Document:

Exhibit 4.1

CIT GROUP INC., 

Issuer

and

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

Trustee

	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
 INDENTURE

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 

Dated as of March 30, 2011

Debt Securities

Reconciliation and tie between

Trust Indenture Act of 1939 (the “Trust Indenture Act”)

and Indenture

	
  

 	
  

 	
  

 
	
 Trust Indenture

 Section

 	
  

 	
 Indenture Act

 Section

 
	

 

 	
  

 	

 

 
	
  

 	
  

 	
  

 
	
 § 310(a)(1)

 	
  

 	
 6.7

 
	
 (a)(2)

 	
  

 	
 6.7

 
	
 (b)

 	
  

 	
 6.8

 
	
 § 311

 	
  

 	
 6.4

 
	
 § 312(a)

 	
  

 	
 7.1

 
	
 (b)

 	
  

 	
 7.2

 
	
 (c)

 	
  

 	
 7.2

 
	
 § 313(a)

 	
  

 	
 7.3

 
	
 (c)

 	
  

 	
 7.3

 
	
 (d)

 	
  

 	
 7.3

 
	
 § 314(a)

 	
  

 	
 7.4

 
	
 (c)(l)

 	
  

 	
 1.2

 
	
 (c)(2)

 	
  

 	
 1.2

 
	
 (e)

 	
  

 	
 1.1, 1.2

 
	
 (f)

 	
  

 	
 1.2

 
	
 §
 315(a)-(d)

 	
  

 	
 3.3

 
	
 (b)

 	
  

 	
 6.2

 
	
 (c)

 	
  

 	
 6.1(9)

 
	
 (d)

 	
  

 	
 6.1(8)

 
	
 (e)

 	
  

 	
 5.15

 
	
 §
 316(a)(last sentence)

 	
  

 	
 1.1

 
	
 (a)(l)(A)

 	
  

 	
 5.12

 
	
 (a)(1)(B)

 	
  

 	
 5.13

 
	
 (b)

 	
  

 	
 5.8

 
	
 § 317(a)(1)

 	
  

 	
 5.3

 
	
 (a)(2)

 	
  

 	
 5.4

 
	
 (b)

 	
  

 	
 10.3

 
	
 § 318(a)

 	
  

 	
 1.8

 
	
  

 	
  

 	
  

 
	
 Note: This
 reconciliation and tie shall not, for any purpose, be deemed to be part of
 the Indenture.

 	
  

 	
  

 

TABLE OF CONTENTS

	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
 Page

 
	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 1

 
	
  

 	
  

 	
  

 	
  

 
	
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 
	
  

 	
  

 	
  

 	
  

 
	
 Section 1.1.

 	
 Definitions

 	
  

 	
 1

 
	
 Section 1.2.

 	
 Compliance
 Certificates and Opinions

 	
  

 	
 9

 
	
 Section 1.3.

 	
 Form of
 Documents Delivered to Trustee

 	
  

 	
 10

 
	
 Section 1.4.

 	
 Acts of
 Holders

 	
  

 	
 10

 
	
 Section 1.5.

 	
 Notices,
 Etc. to Trustee and Company

 	
  

 	
 12

 
	
 Section 1.6.

 	
 Notice to
 Holders of Securities; Waiver

 	
  

 	
 12

 
	
 Section 1.7.

 	
 Language of
 Notices

 	
  

 	
 13

 
	
 Section 1.8.

 	
 Conflict
 with Trust Indenture Act

 	
  

 	
 14

 
	
 Section 1.9.

 	
 Effect of
 Headings and Table of Contents

 	
  

 	
 14

 
	
 Section
 1.10.

 	
 Successors
 and Assigns

 	
  

 	
 14

 
	
 Section
 1.11.

 	
 Separability
 Clause

 	
  

 	
 14

 
	
 Section
 1.12.

 	
 Benefits of
 Indenture

 	
  

 	
 14

 
	
 Section
 1.13.

 	
 Governing
 Law

 	
  

 	
 14

 
	
 Section
 1.14.

 	
 Legal
 Holidays

 	
  

 	
 14

 
	
 Section
 1.15.

 	
 Counterparts

 	
  

 	
 14

 
	
 Section
 1.16.

 	
 Judgment
 Currency

 	
  

 	
 14

 
	
 Section
 1.17.

 	
 Limitation
 on Individual Liability

 	
  

 	
 15

 
	
 Section
 1.18.

 	
 Waiver of
 Jury Trial

 	
  

 	
 15

 
	
 Section
 1.19.

 	
 Force
 Majeure

 	
  

 	
 15

 
	
 Section
 1.20.

 	
 Patriot Act

 	
  

 	
 15

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 2

 
	
  

 	
  

 	
  

 	
  

 
	
 SECURITIES FORMS

 
	
  

 	
  

 	
  

 	
  

 
	
 Section 2.1.

 	
 Forms
 Generally

 	
  

 	
 16

 
	
 Section 2.2.

 	
 Form of
 Trustee’s Certificate of Authentication

 	
  

 	
 16

 
	
 Section 2.3.

 	
 Securities
 in Global Form

 	
  

 	
 16

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 3

 
	
  

 	
  

 	
  

 	
  

 
	
 THE SECURITIES

 
	
  

 	
  

 	
  

 	
  

 
	
 Section 3.1.

 	
 Amount
 Unlimited; Issuable in Series

 	
  

 	
 17

 
	
 Section 3.2.

 	
 Currency;
 Denominations

 	
  

 	
 20

 
	
 Section 3.3.

 	
 Execution,
 Authentication, Delivery and Dating

 	
  

 	
 20

 
	
 Section 3.4.

 	
 Temporary
 Securities

 	
  

 	
 21

 
	
 Section 3.5.

 	
 Registration,
 Transfer and Exchange

 	
  

 	
 22

 
	
 Section 3.6.

 	
 Mutilated,
 Destroyed, Lost and Stolen Securities

 	
  

 	
 25

 

-i-

	
  

 	
  

 	
  

 	
  

 
	
 Section 3.7.

 	
 Payment of
 Interest; Rights to Interest Preserved

 	
  

 	
 26

 
	
 Section 3.8.

 	
 Persons
 Deemed Owners

 	
  

 	
 27

 
	
 Section 3.9.

 	
 Cancellation

 	
  

 	
 28

 
	
 Section
 3.10.

 	
 Computation
 of Interest

 	
  

 	
 28

 
	
 Section
 3.11.

 	
 CUSIP
 Numbers

 	
  

 	
 28

 
	
 Section
 3.12.

 	
 Issuance of
 Additional Securities

 	
  

 	
 28

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 4

 
	
  

 	
  

 	
  

 	
  

 
	
 SATISFACTION AND DISCHARGE OF INDENTURE;

 DEFEASANCE AND COVENANT DEFEASANCE

 
	
  

 	
  

 	
  

 	
  

 
	
 Section 4.1.

 	
 Satisfaction
 and Discharge

 	
  

 	
 29

 
	
 Section 4.2.

 	
 Defeasance
 and Covenant Defeasance

 	
  

 	
 30

 
	
 Section 4.3.

 	
 Application
 of Trust Money

 	
  

 	
 33

 
	
 Section 4.4.

 	
 Reinstatement

 	
  

 	
 33

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 5

 
	
  

 	
  

 	
  

 	
  

 
	
 REMEDIES

 
	
  

 	
  

 	
  

 	
  

 
	
 Section 5.1.

 	
 Events of
 Default

 	
  

 	
 34

 
	
 Section 5.2.

 	
 Acceleration
 of Maturity; Rescission and Annulment

 	
  

 	
 35

 
	
 Section 5.3.

 	
 Collection
 of Indebtedness and Suits for Enforcement by Trustee

 	
  

 	
 36

 
	
 Section 5.4.

 	
 Trustee May
 File Proofs of Claim

 	
  

 	
 37

 
	
 Section 5.5.

 	
 Trustee May
 Enforce Claims without Possession of Securities or Coupons

 	
  

 	
 37

 
	
 Section 5.6.

 	
 Application
 of Money Collected

 	
  

 	
 38

 
	
 Section 5.7.

 	
 Limitations
 on Suits

 	
  

 	
 38

 
	
 Section 5.8.

 	
 Unconditional
 Right of Holders to Receive Principal and any Premium and

 	
  

 	
  

 
	
  

 	
 Interest

 	
  

 	
 39

 
	
 Section 5.9.

 	
 Restoration
 of Rights and Remedies

 	
  

 	
 39

 
	
 Section
 5.10.

 	
 Rights and
 Remedies Cumulative

 	
  

 	
 39

 
	
 Section
 5.11.

 	
 Delay or
 Omission Not Waiver

 	
  

 	
 39

 
	
 Section
 5.12.

 	
 Control by
 Holders of Securities

 	
  

 	
 39

 
	
 Section
 5.13.

 	
 Waiver of
 Past Defaults

 	
  

 	
 39

 
	
 Section
 5.14.

 	
 Waiver of
 Usury, Stay or Extension Laws

 	
  

 	
 40

 
	
 Section
 5.15.

 	
 Undertaking
 for Costs

 	
  

 	
 40

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 6

 
	
  

 	
  

 	
  

 	
  

 
	
 THE TRUSTEE

 
	
  

 	
  

 	
  

 	
  

 
	
 Section 6.1.

 	
 Certain
 Duties and Responsibilities

 	
  

 	
 40

 
	
 Section 6.2.

 	
 Certain
 Rights of Trustee

 	
  

 	
 41

 
	
 Section 6.3.

 	
 Notice of
 Defaults

 	
  

 	
 43

 
	
 Section 6.4.

 	
 Not
 Responsible for Recitals or Issuance of Securities

 	
  

 	
 43

 
	
 Section 6.5.

 	
 May Hold
 Securities

 	
  

 	
 43

 
	
 Section 6.6.

 	
 Money Held
 in Trust

 	
  

 	
 43

 
	
 Section 6.7.

 	
 Compensation
 and Reimbursement

 	
  

 	
 43

 
	
 Section 6.8.

 	
 Corporate
 Trustee Required; Eligibility

 	
  

 	
 44

 

-ii-

	
  

 	
  

 	
  

 	
  

 
	
 Section 6.9.

 	
 Resignation
 and Removal; Appointment of Successor

 	
  

 	
 44

 
	
 Section
 6.10.

 	
 Acceptance
 of Appointment by Successor

 	
  

 	
 46

 
	
 Section
 6.11.

 	
 Merger,
 Conversion, Consolidation or Succession to Business

 	
  

 	
 47

 
	
 Section
 6.12.

 	
 Appointment
 of Authenticating Agent

 	
  

 	
 47

 
	
 Section
 6.13.

 	
 Appointment
 of Attorney-in-Fact

 	
  

 	
 49

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 7

 
	
  

 	
  

 	
  

 	
  

 
	
 HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

 
	
  

 	
  

 	
  

 	
  

 
	
 Section 7.1.

 	
 Company to
 Furnish Trustee Names and Addresses of Holders

 	
  

 	
 49

 
	
 Section 7.2.

 	
 Preservation
 of Information; Communications to Holders

 	
  

 	
 49

 
	
 Section 7.3.

 	
 Reports by
 Trustee

 	
  

 	
 50

 
	
 Section 7.4.

 	
 Reports by
 Company

 	
  

 	
 50

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 8

 
	
  

 	
  

 	
  

 	
  

 
	
 CONSOLIDATION, AMALGAMATIONS, MERGER AND SALES

 
	
  

 	
  

 	
  

 	
  

 
	
 Section 8.1.

 	
 Company May
 Consolidate, Etc., Only on Certain Terms

 	
  

 	
 51

 
	
 Section 8.2.

 	
 Successor
 Person Substituted for Company

 	
  

 	
 51

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 9

 
	
  

 	
  

 	
  

 	
  

 
	
 SUPPLEMENTAL INDENTURES

 
	
  

 	
  

 	
  

 	
  

 
	
 Section 9.1.

 	
 Supplemental
 Indentures without Consent of Holders

 	
  

 	
 52

 
	
 Section 9.2.

 	
 Supplemental
 Indentures with Consent of Holders

 	
  

 	
 53

 
	
 Section 9.3.

 	
 Execution of
 Supplemental Indentures

 	
  

 	
 54

 
	
 Section 9.4.

 	
 Effect of
 Supplemental Indentures

 	
  

 	
 54

 
	
 Section 9.5.

 	
 Reference in
 Securities to Supplemental Indentures

 	
  

 	
 54

 
	
 Section 9.6.

 	
 Conformity
 with Trust Indenture Act

 	
  

 	
 54

 
	
 Section 9.7.

 	
 Notice of
 Supplemental Indenture

 	
  

 	
 54

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 10

 
	
  

 	
  

 	
  

 	
  

 
	
 COVENANTS

 
	
  

 	
  

 	
  

 	
  

 
	
 Section
 10.1.

 	
 Payment of
 Principal, any Premium, Interest

 	
  

 	
 55

 
	
 Section
 10.2.

 	
 Maintenance
 of Office or Agency

 	
  

 	
 55

 
	
 Section
 10.3.

 	
 Money for
 Securities Payments to Be Held in Trust

 	
  

 	
 56

 
	
 Section
 10.4.

 	
 Corporate
 Existence

 	
  

 	
 57

 
	
 Section
 10.5.

 	
 Waiver of
 Certain Covenants

 	
  

 	
 57

 
	
 Section
 10.6.

 	
 Company
 Statement as to Compliance; Notice of Certain Defaults

 	
  

 	
 57

 

-iii-

	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 11

 
	
  

 	
  

 	
  

 	
  

 
	
 REDEMPTION OF SECURITIES

 
	
  

 	
  

 	
  

 	
  

 
	
 Section
 11.1.

 	
 Applicability
 of Article

 	
  

 	
 58

 
	
 Section
 11.2.

 	
 Election to
 Redeem; Notice to Trustee

 	
  

 	
 58

 
	
 Section
 11.3.

 	
 Selection by
 Trustee of Securities to be Redeemed

 	
  

 	
 58

 
	
 Section
 11.4.

 	
 Notice of
 Redemption

 	
  

 	
 59

 
	
 Section
 11.5.

 	
 Deposit of
 Redemption Price

 	
  

 	
 60

 
	
 Section
 11.6.

 	
 Securities
 Payable on Redemption Date

 	
  

 	
 60

 
	
 Section
 11.7.

 	
 Securities
 Redeemed in Part

 	
  

 	
 61

 
	
 Section
 11.8.

 	
 Cancellation
 and Destruction of Securities

 	
  

 	
 61

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 12

 
	
  

 	
  

 	
  

 	
  

 
	
 SINKING FUNDS

 
	
  

 	
  

 	
  

 	
  

 
	
 Section
 12.1.

 	
 Applicability
 of Article

 	
  

 	
 61

 
	
 Section
 12.2.

 	
 Satisfaction
 of Sinking Fund Payments with Securities

 	
  

 	
 61

 
	
 Section
 12.3.

 	
 Redemption
 of Securities for Sinking Fund

 	
  

 	
 62

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 13

 
	
  

 	
  

 	
  

 	
  

 
	
 REPAYMENT AT THE OPTION OF HOLDERS

 
	
  

 	
  

 	
  

 	
  

 
	
 Section
 13.1.

 	
 Applicability
 of Article

 	
  

 	
 62

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 14

 
	
  

 	
  

 	
  

 	
  

 
	
 SECURITIES IN FOREIGN CURRENCIES

 
	
  

 	
  

 	
  

 	
  

 
	
 Section
 14.1.

 	
 Applicability
 of Article

 	
  

 	
 63

 
	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 15

 
	
  

 	
  

 	
  

 	
  

 
	
 MEETINGS OF HOLDERS OF SECURITIES

 
	
  

 	
  

 	
  

 	
  

 
	
 Section 15.1.

 	
 Purposes for
 Which Meetings May Be Called

 	
  

 	
 63

 
	
 Section
 15.2.

 	
 Call, Notice
 and Place of Meetings

 	
  

 	
 63

 
	
 Section
 15.3.

 	
 Persons
 Entitled to Vote at Meetings

 	
  

 	
 64

 
	
 Section
 15.4.

 	
 Quorum;
 Action

 	
  

 	
 64

 
	
 Section
 15.5.

 	
 Determination
 of Voting Rights; Conduct and Adjournment of Meetings

 	
  

 	
 64

 
	
 Section
 15.6.

 	
 Counting
 Votes and Recording Action of Meetings

 	
  

 	
 65

 
	
 Section
 15.7.

 	
 Preservation
 of Rights of Trustee and Holders

 	
  

 	
 65

 
	
  

 	
  

 	
  

 	
  

 
	
 Appendix A –

 	
 Provisions
 Relating to Initial Securities and Exchange Securities

 	
  

 	
  

 

-iv-

          INDENTURE,
dated as of March 30, 2011 (the “Indenture”),
between CIT Group Inc., a corporation duly organized and existing under the
laws of the State of Delaware (the “Company”)
and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”). 

RECITALS

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

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

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

          NOW,
THEREFORE, THIS INDENTURE WITNESSETH: 

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

ARTICLE 1

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

          Section
1.1. Definitions. Except as otherwise specified with respect to any Securities
issued pursuant to Section 3.1, and except as otherwise expressly provided in
or pursuant to this Indenture, or unless the context otherwise requires, for
all purposes of this Indenture: 

	
  

 	
  

 
	
  

 	
           (1)
 the terms defined in this Article have the meanings assigned to them in this
 Article, and include the plural as well as the singular; 

 
	
  

 	
  

 
	
  

 	
           (2)
 all other terms used herein which are defined in the Trust Indenture Act,
 either directly or by reference therein, have the meanings assigned to them
 therein; 

 
	
  

 	
  

 
	
  

 	
           (3)
 all accounting terms not otherwise defined herein have the meanings assigned
 to them in accordance with generally accepted accounting principles in the
 United States of America and, except as otherwise herein expressly provided,
 the terms “generally accepted accounting principles” or “GAAP” with respect
 to any computation required or permitted hereunder shall mean such accounting
 principles as are generally accepted in the United States of America at the date
 or time of such computation; 

 
	
  

 	
  

 
	
  

 	
           (4)
 the words “herein,” “hereof,” “hereto” and “hereunder” and other words of
 similar import refer to this Indenture as a whole and not to any particular
 Article, Section or other subdivision; and 

 

	
  

 	
  

 
	
  

 	
           (5)
 the word “or” is always used inclusively (for example, the phrase “A or B”
 means “A or B or both,” not “either A or B but not both”). Certain terms used
 principally in certain Articles hereof are defined in those Articles. 

 

          “Act” when used with respect to any Holders,
has the meaning specified in Section 1.4. 

          “Additional Securities” has the meaning
specified in Section 3.12. 

          “Affiliate” of any specified Person means
any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of
this definition, “control,” as
used with respect to any Person, means the possession, directly or indirectly,
of the power to direct or cause the direction of the management or policies of
such Person, whether through the ownership of voting securities, by agreement
or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under
common control with” have correlative meanings. In no event shall
any Person acquired or formed in connection with a workout, restructuring or
foreclosure in the ordinary course of business be considered an “Affiliate” of
the Company or of any guarantor of Securities issued hereunder. 

          “Authenticating Agent” means any Person
authorized by the Trustee pursuant to Section 6.12 to act on behalf of the
Trustee to authenticate Securities of one or more series. 

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

          “Authorized Officer” means, when used with
respect to the Company, the Chairman of the Board of Directors, a Vice
Chairman, the President, the Chief Executive Officer, the Chief Financial
Officer, any Vice President, the Treasurer, an Assistant Treasurer, the
Secretary or an Assistant Secretary, of the Company. 

          “Bankruptcy Law” has the meaning specified
in Section 5.1(5). 

          “Bearer Security” means any Security in the
form established pursuant to Section 2.1 which is payable to bearer. 

          “Board of Directors” means: 

	
  

 	
  

 
	
  

 	
           (1)
 with respect to a corporation, the board of directors of the corporation or
 any committee thereof duly authorized to act on behalf of such board; 

 
	
  

 	
  

 
	
  

 	
           (2)
 with respect to a partnership, the board of directors of the general partner
 of the partnership; 

 
	
  

 	
  

 
	
  

 	
           (3)
 with respect to a limited liability company, the managing member or members
 or any controlling committee of managing members or board of directors
 thereof; and 

 

-2-

	
  

 	
  

 
	
  

 	
           (4)
 with respect to any other Person, the board or committee of such Person
 serving a similar function. 

 

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

          “Business Day,” with respect to any Place of
Payment or other location, means any day other than a Saturday, Sunday or other
day on which banking institutions in such Place of Payment or other location
are authorized or obligated by law, regulation or executive order to close. 

          “Capital Stock” of any Person means any and
all shares, interests, rights to purchase, warrants, options, participations or
other equivalents of or interests in (however designated) equity of such
Person, including Preferred Stock, but excluding any debt securities
convertible into such equity. 

          “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 of this Indenture such Commission is not existing and performing the
duties now assigned to it under the Trust Indenture Act, then the body
performing such duties at such time. 

          “Common Stock” in respect of any Corporation
means Capital Stock of any class or classes (however designated) which has no
preference as to the payment of dividends, or as to the distribution of assets
upon any voluntary or involuntary liquidation or dissolution of such
Corporation, and which is not subject to redemption by such Corporation. 

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

          “Company Paid Amount” has the meaning
specified in Section 4.4(3). 

          “Company Request” and “Company Order” mean, respectively, a
written request or order, as the case may be, signed in the name of the Company
by an Authorized Officer, and delivered to the Trustee. 

          “Conversion Event” means the cessation of
use of (i) a Foreign Currency both by the government of the country or the
confederation which issued such Foreign Currency and for the settlement of
transactions by a central bank or other public institutions of or within the
international banking community or (ii) any currency unit or composite currency
for the purposes for which it was established. 

          “Corporate Trust Office” means the principal
corporate trust office of the Trustee at which at any particular time its
corporate trust business shall be administered, which office at the date of
original execution of this Indenture is located at 60 Wall Street, 26th Floor,
New York, New York 10005, Attn: Corporate Trust Administration, or such other
address as the Trustee may designate from time to time by notice to the Holders
and the Company. 

          “Corporation” means corporations and limited
liability companies and, except for purposes of Article 8, associations,
companies and business trusts. 

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

-3-

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

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

          “Custodian” has the meaning specified in
Section 5.1(5). 

          “Defaulted Interest” has the meaning
specified in Section 3.7. 

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

          “Event of Default” has the meaning specified
in Section 5.1. 

          “Foreign Currency” means any currency,
currency unit or composite currency, including, without limitation, the euro,
issued by the government of one or more countries other than the United States
of America or by any recognized confederation or association of such governments.

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

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

          “Indebtedness” means, with respect to any
Person, such Person’s (i) obligations for borrowed money, (ii) obligations
representing the deferred purchase price of property or services other than
accounts payable arising in the ordinary course of such Person’s business,
(iii) obligations, whether or not assumed, secured by Liens on property now or
hereafter owned or acquired by such Person (other than obligations not for
borrowed money and other than carriers’, warehousemen’s, mechanics’,
repairmen’s or other like nonconsensual statutory Liens arising in the ordinary
course of business), (iv) obligations which are evidenced by notes,
acceptances, or other similar instruments, (v) that portion of capitalized
lease obligations that is properly classified as a liability on a balance sheet
in conformity with generally 

-4-

accepted
accounting principles, (vi) contingent obligations with respect to the
Indebtedness of another Person, including but not limited to the obligation or
liability of another which such Person assumes, guarantees, endorses,
contingently agrees to purchase or provide funds for the payment of, or
otherwise becomes contingently liable upon; provided
that any Indebtedness owing by the Company to any of its Subsidiaries or by any
Subsidiary to the Company or by any Subsidiary to any other Subsidiary of the
Company or any contingent obligation in respect thereof shall not constitute
Indebtedness for purposes of this Indenture, and (vii) obligations for which
such Person is obligated in respect of a letter of credit. 

          For
purposes of the Indenture, Indebtedness shall not include (A) any indebtedness
of such Person to the extent (I) such indebtedness does not appear on the
financial statement of such Person, (II) such indebtedness is recourse only to
certain assets of such Person, and (III) the assets to which such indebtedness
is recourse only appear on the financial statements of such Person net of such
indebtedness, or (B) any indebtedness or other obligations issued by any Person
(or by a trust or other entity established by such Person or any of its
affiliates) to the extent (I) primarily serviced by the cash flows of a
discrete pool of receivables, leases or other financial or operating assets
which have been sold or transferred by the Company or any Subsidiary in
securitization or secured financing transactions and (II) such sale or transfer
of receivables, leases or other financial or operating assets is treated as a
true sale for legal purposes (irrespective of whether such sale or transfer is
accounted for as a sale under generally accepted accounting principles). It is
understood and agreed that (1) the amount of any Indebtedness described in
clause (iii) for which recourse is limited to certain property of such Person
shall be the lower of (x) the amount of the obligation and (y) the fair market
value of the property of such Person securing such obligation, and (2) the
amount of any obligation described in clause (vi) shall be the lower of (x) the
stated or determinable amount of the primary obligation in respect of which
such contingent obligation is made, and (y) the maximum amount for which such
Person may be liable pursuant to the terms of the agreement embodying such
contingent obligation unless such primary obligation and the maximum amount for
which such Person may be liable are not stated or determinable, in which case
the amount of such contingent obligation shall be such Person’s maximum,
reasonably anticipated liability in respect thereof as determined by such
Person in good faith. 

          “Indenture” means this instrument as it may
from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof,
including, for all purposes of this instrument and any such supplemental
indenture, the provisions of the Trust Indenture Act that are deemed to be a
part of and govern this instrument, and, with respect to any Security, by the
terms and provisions of such Security and any Coupon appertaining thereto
established pursuant to Section 3.1 (as such terms and provisions may be
amended pursuant to the applicable provisions hereof). 

          “Independent Public Accountants” means
accountants or a firm of accountants that, with respect to the Company and any
other obligor under the Securities or the Coupons, are independent public
accountants within the meaning of the Securities Act of 1933, as amended, and
the rules and regulations promulgated by the Commission thereunder, who may be
the independent public accountants regularly retained by the Company or who may
be other independent public accountants. Such accountants or firm shall be
entitled to rely upon any Opinion of Counsel as to the interpretation of any
legal matters relating to this Indenture or certificates required to be
provided hereunder. 

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

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

-5-

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

          
“Judgment Currency” has the
meaning specified in Section 1.16. 

          
“Lien” means any pledge of and any
lien on any property or assets of a Person to secure Indebtedness for money
borrowed, incurred, issued, assumed or guaranteed by such Person. 

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

          
“New York Banking Day” has the
meaning specified in Section 1.16. 

          
“Office” or “Agency” with respect to any Securities,
means an office or agency of the Company maintained or designated in a Place of
Payment for such Securities pursuant to Section 10.2 or any other office or
agency of the Company maintained or designated for such Securities pursuant to
Section 10.2 or, to the extent designated or required by Section 10.2 in lieu
of such office or agency, the Corporate Trust Office of the Trustee. 

          “Officers’ Certificate” means a certificate
signed by the Chairman, Vice Chairman, President, Chief Executive Officer or a
Vice President and by the Chief Financial Officer, Treasurer, an Assistant
Treasurer, the Secretary, or an Assistant Secretary of the Corporation, and
delivered to the Trustee. 

          
“Opinion of Counsel” means a
written opinion of counsel, reasonably acceptable to the Trustee, who may be an
employee of or counsel for the Company or other counsel, that, if required by
the Trust Indenture Act, complies with the requirements of Section 314(e) of
the Trust Indenture Act. 

          
“Original Issue Discount Security”
means a Security issued pursuant to this Indenture which provides for
declaration of an amount less than the principal face amount thereof to be due
and payable upon acceleration pursuant to Section 5.2. 

          
“Original Securities” has the
meaning specified in Section 3.12. 

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

	
  

 	
  

 	
  

 
	
  

 	
 (a)

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

 
	
  

 	
  

 	
  

 
	
  

 	
 (b)

 	
 any such
 Security for whose payment at the Maturity thereof money in the necessary
 amount has been theretofore deposited pursuant hereto with the Trustee or any
 Paying Agent (other than the Company) in trust or set aside and segregated in
 trust by the Company (if the Company shall act as its own Paying Agent) for
 the Holders of such Securities and any Coupons appertaining thereto, provided
 that, if such Securities are to be redeemed, notice of such redemption has
 been duly given pursuant to this Indenture or provision therefor reasonably
 satisfactory to the Trustee has been made; 

 

-6-

	
  

 	
  

 	
  

 
	
  

 	
 (c)

 	
 any such
 Security with respect to which the Company has effected defeasance and/or
 covenant defeasance pursuant to the terms hereof, except to the extent
 provided in Section 4.2; 

 
	
  

 	
  

 	
  

 
	
  

 	
 (d)

 	
 any such
 Security which has been paid pursuant to Section 3.6 or in exchange for or in
 lieu of which other Securities have been authenticated and delivered pursuant
 to this Indenture, unless there shall have been presented to the Trustee
 proof reasonably satisfactory to it that such Security is held by a bona fide
 purchaser in whose hands such Security is a valid obligation of the Company;
 and 

 
	
  

 	
  

 	
  

 
	
  

 	
 (e)

 	
 any such
 Security converted or exchanged as contemplated by this Indenture into other
 securities or property of a Person (including the Company) if the terms of
 such Security provide for such conversion or exchange pursuant to Section
 3.1; 

 

provided, however, that in determining
whether the Holders of the requisite principal amount of Outstanding Securities
have given any request, demand, authorization, direction, notice, consent or
waiver hereunder or are present at a meeting of Holders of Securities for
quorum purposes, (i) the principal amount of an Original Issue Discount
Security that may be counted in making such determination and that shall be
deemed to be Outstanding for such purposes shall be equal to the amount of the
principal thereof that pursuant to the terms of such Original Issue Discount
Security would be declared (or shall have been declared to be) due and payable
upon a declaration of acceleration thereof pursuant to Section 5.2 at the time
of such determination, and (ii) the principal amount of any Indexed Security
that may be counted in making such determination and that shall be deemed
Outstanding for such purposes shall be equal to the principal face amount of
such Indexed Security at original issuance, unless otherwise provided in or
pursuant to this Indenture, and (iii) the principal amount of a Security
denominated in a Foreign Currency shall be the Dollar equivalent, determined on
the date of original issuance of such Security, of the principal amount (or, in
the case of an Original Issue Discount Security, the Dollar equivalent on the
date of original issuance of such Security of the amount determined as provided
in (i) above) of such Security, and (iv) Securities owned by the Company or any
other obligor upon the Securities or any Affiliate of the Company or such other
obligor, shall be disregarded and deemed not to be Outstanding, except that, in
determining whether the Trustee shall be protected in making any such determination
or relying upon any such request, demand, authorization, direction, notice,
consent or waiver, only Securities which a Responsible Officer of the Trustee
actually knows to be so owned shall be so disregarded. Securities so owned
which shall have been pledged in good faith may be regarded as Outstanding if
the pledgee establishes to the satisfaction of the Trustee (A) the pledgee’s
right so to act with respect to such Securities and (B) that the pledgee is not
the Company or any other obligor upon the Securities or any Coupons
appertaining thereto or an Affiliate of the Company or such other obligor. 

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

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

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

          “Predecessor Security” of any particular
Security means every previous Security evidencing all or a portion of the same
Indebtedness as that evidenced by such particular Security; and, for the
purposes of this definition, any Security authenticated and delivered under
Section 3.6 in exchange for or in lieu of 

-7-

a lost,
destroyed, mutilated or stolen Security or any Security to which a mutilated,
destroyed, lost or stolen Coupon appertains shall be deemed to evidence the
same Indebtedness as the lost, destroyed, mutilated or stolen Security or the
Security to which a mutilated, destroyed, lost or stolen Coupon appertains. 

          “Preferred Stock” in respect of any
Corporation means Capital Stock of any class or classes (however designated)
which is preferred as to the payment of dividends, or as to the distribution of
assets upon any voluntary or involuntary liquidation or dissolution of such
Corporation, over shares of Capital Stock of any other class of such
Corporation. 

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

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

          “Registered Security” means any Security in
the form established pursuant to Section 2.1 which is registered in a Security
Register. 

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

          “Required Currency” has the meaning
specified in Section 1.16. 

          “Responsible Officer” means any officer
within the corporate trust office of the Trustee, which may include every vice
president or officer senior thereto, every assistant vice president, every
trust officer, every assistant trust officer, and every other officer and
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
knowledge of, and familiarity with, a particular subject and who shall have
direct responsibility for the administration of this Indenture. 

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

          “Security Register” and “Security Registrar” have the respective
meanings specified in Section 3.5. 

          “Special Record Date” for the payment of any
Defaulted Interest on any Registered Security means a date fixed by the Company
pursuant to Section 3.7. 

          “Stated Maturity,” with respect to any
Security or any installment of principal thereof or interest thereon, 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, due and payable. 

          “Subsidiary” means, with respect to any
specified Person: 

-8-

	
  

 	
  

 
	
  

 	
           (1)
 any corporation, association or other business entity of which more than 50%
 of the total voting power of shares of Capital Stock entitled (without regard
 to the occurrence of any contingency and after giving effect to any voting
 agreement or stockholders’ agreement that effectively transfers voting power)
 to vote in the election of directors, managers or trustees of the
 corporation, association or other business entity is at the time owned or
 controlled, directly or indirectly, by that Person or one or more of the
 other Subsidiaries of that Person (or a combination thereof); and

 
	
  

 	
           (2) any partnership (a) the sole general
 partner or the managing general partner of which is such Person or a
 Subsidiary of such Person or (b) the only general partners of which are that
 Person or one or more Subsidiaries of that Person (or any combination
 thereof). 

 

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

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

          “United States,” except as otherwise
provided in or pursuant to this Indenture or any Security, means the United
States of America (including the states thereof and the District of Columbia),
its territories and possessions and other areas subject to its jurisdiction. 

          “U.S. Depository” or “Depository” means, with respect to any
Security issuable or issued in the form of one or more global Securities, the
Person designated as U.S. Depository or Depository by the Company in or
pursuant to this Indenture, which Person must be, to the extent required by
applicable law or regulation, a clearing agency registered under the Securities
Exchange Act of 1934, as amended, and, if so provided with respect to any
Security, any successor to such Person. If at any time there is more than one
such Person, “U.S. Depository” or “Depository” shall mean, with respect to any
Securities, the qualifying entity that has been appointed with respect to such
Securities. 

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

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

-9-

          Except
as otherwise expressly provided in the Indenture, every certificate or opinion
with respect to compliance with a condition or covenant provided for in this
Indenture shall include: 

	
  

 	
  

 
	
  

 	
           (1)
 a statement that the individual signing such certificate or opinion has read
 such condition or covenant and the definitions herein relating thereto; 

 
	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
           (4)
 a statement as to whether, in the opinion of such individual, such condition
 or covenant has been complied with. 

 

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

          Any
certificate or opinion of an officer of the Company may be based, insofar as it
relates to legal matters, upon an Opinion of Counsel, provided that such
officer, after reasonable inquiry, has no reason to believe and does not
believe that the Opinion of Counsel with respect to the matters upon which his
certificate or opinion is based is erroneous. Any such Opinion of Counsel may
be based, insofar as it relates to factual matters, upon a certificate or
opinion of, or representations by, an officer or officers of the Company,
stating that the information with respect to such factual matters is in the
possession of the Company, provided that such counsel, after reasonable
inquiry, has no reason to believe and does not believe that the certificate or
opinion or representations with respect to such matters are erroneous. 

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

          Section
1.4. Acts of Holders. 

	
  

 	
  

 	
  

 
	
  

 	
           (1)
 Any request, demand, authorization, direction, notice, consent, waiver or
 other action provided by or pursuant to this Indenture to be given or taken
 by Holders may be embodied in and evidenced by one or more instruments of
 substantially similar tenor signed by such Holders in person or by an agent
 duly appointed in writing. If, but only if, Securities of a series are
 issuable as Bearer Securities, any request, demand, authorization, direction,
 notice, consent, waiver or other action provided in or pursuant to this
 Indenture to be given or taken by Holders of Securities of such series may,
 alternatively, be embodied in and evidenced by the record of Holders of
 Securities of such series voting in favor thereof, either in person or by
 proxies duly appointed in writing, at any meeting of Holders of Securities of
 such series duly called and held in accordance with the provisions of Article
 15, or a combination of such instruments and any such record. Except as
 herein otherwise expressly provided, such action shall become effective when
 such instrument or instruments or record or both are delivered to the Trustee
 and, where it is hereby expressly required, to the Company. Such instrument
 or instruments and any such record 

 

-10-

	
  

 	
  

 
	
  

 	
 (and the
 action embodied therein and evidenced thereby) are herein sometimes referred
 to as the “Act” of the Holders signing such instrument or instruments or so
 voting at any such meeting. Proof of execution of any such instrument or of a
 writing appointing any such agent, or of the holding by any Person of a
 Security, shall be sufficient for any purpose of this Indenture and (subject
 to Section 315 of the Trust Indenture Act) conclusive in favor of the
 Trustee, the Company and any agent of the Trustee or the Company, if made in
 the manner provided in this Section. The record of any meeting of Holders of
 Securities shall be proved in the manner provided in Section 15.6.

 

          Without
limiting the generality of this Section 1.4, unless otherwise provided in or
pursuant to this Indenture, a Holder, including a U.S. Depository that is a
Holder of a global Security, may make, give or take, by a proxy or proxies,
duly appointed in writing, any request, demand, authorization, direction,
notice, consent, waiver or other Act provided in or pursuant to this Indenture
to be made, given or taken by Holders, and a U.S. Depository that is a Holder
of a global Security may provide its proxy or proxies to the beneficial owners
of interests in any such global Security through such U.S. Depository’s
standing instructions and customary practices. 

          The
Company shall fix a record date for the purpose of determining the Persons who
are beneficial owners of interest in any permanent global Security held by a
U.S. Depository entitled under the procedures of such U.S. Depository to make,
give or take, by a proxy or proxies duly appointed in writing, any request,
demand, authorization, direction, notice, consent, waiver or other Act provided
in or pursuant to this Indenture to be made, given or taken by Holders. If such
a record date is fixed, the Holders on such record date or their duly appointed
proxy or proxies, and only such Persons, shall be entitled to make, give or
take such request, demand, authorization, direction, notice, consent, waiver or
other Act, whether or not such Holders remain Holders after such record date.
No such request, demand, authorization, direction, notice, consent, waiver or
other Act shall be valid or effective if made, given or taken more than 90 days
after such record date. 

	
  

 	
  

 
	
  

 	
           (2)
 The fact and date of the execution by any Person of any such instrument or
 writing referred to in this Section 1.4 may be proved in any reasonable
 manner; and the Trustee may in any instance require further proof with
 respect to any of the matters referred to in this Section. 

 
	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

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

 

-11-

          ment and the
date of the termination of holding the same may also be proved in any other
manner, which the Company and the Trustee deem sufficient. 

	
  

 	
  

 
	
  

 	
           (5)
 If the Company shall solicit from the Holders of any Registered Securities
 any request, demand, authorization, direction, notice, consent, waiver or
 other Act, the Company may at its option (but is not obligated to), by Board
 Resolution, fix in advance a record date for the determination of Holders of
 Registered Securities entitled to give such request, demand, authorization,
 direction, notice, consent, waiver or other Act. If such a record date is
 fixed, such request, demand, authorization, direction, notice, consent,
 waiver or other Act may be given before or after such record date, but only
 the Holders of Registered Securities of record at the close of business on
 such record date shall be deemed to be Holders for the purpose of determining
 whether Holders of the requisite proportion of Outstanding Securities have
 authorized or agreed or consented to such request, demand, authorization,
 direction, notice, consent, waiver or other Act, and for that purpose the
 Outstanding Securities shall be computed as of such record date; provided
 that no such authorization, agreement or consent by the Holders of Registered
 Securities shall be deemed effective unless it shall become effective
 pursuant to the provisions of this Indenture not later than six months after
 the record date. 

 
	
  

 	
  

 
	
  

 	
           (6)
 Any request, demand, authorization, direction, notice, consent, waiver or
 other Act by the Holder of any Security shall bind every future Holder of the
 same Security and the Holder of every Security issued upon the registration
 of transfer thereof or in exchange therefor or in lieu thereof in respect of
 anything done or suffered to be done by the Trustee, any Security Registrar,
 any Paying Agent or the Company in reliance thereon, whether or not notation
 of such Act is made upon such Security. 

 
	
  

 	
  

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

 
	
  

 	
  

 
	
  

 	
           (1)
 the Trustee by any Holder or the Company shall be sufficient for every
 purpose hereunder if made, given, furnished or filed in writing to or with
 the Trustee at its Corporate Trust Office, or 

 
	
  

 	
  

 
	
  

 	
           (2)
 the Company, by the Trustee or any Holder shall be sufficient for every
 purpose hereunder (unless otherwise herein expressly provided) if in writing
 and mailed, first-class postage prepaid, to the Company, addressed to the
 attention of its Treasurer, with a copy to the attention of its General
 Counsel, at the address of its principal office specified herein or at any
 other address previously furnished in writing to the Trustee by the Company. 

 
	
  

 	
  

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

 
	
  

 	
  

 
	
  

 	
           (1)
 such notice shall be sufficiently given to Holders of Registered Securities
 if in writing and mailed, first-class postage prepaid, to each Holder of a
 Registered Security affected by such event, at his address as it appears in
 the Security Register, not later than the latest date, and not earlier than
 the earliest date, prescribed for the giving of such notice; and 

 
	
  

 	
  

 
	
  

 	
           (2)
 such notice shall be sufficiently given to Holders of Bearer Securities, if
 any, if published in an Authorized Newspaper in The City of New York and, if
 such Securities are then listed on any stock exchange outside the United
 States, in an Authorized Newspaper in such city 

 

-12-

	
  

 	
  

 
	
  

 	
 as the
 Company shall advise the Trustee that such stock exchange so requires, on a
 Business Day at least twice, the first such publication to be not earlier
 than the earliest date and the second such publication not later than the
 latest date prescribed for the giving of such notice. 

 

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

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

          Where
this Indenture provides for notice in any manner, such notice may be waived in
writing by the Person entitled to receive such notice, either before or after
the event, and such waiver shall be the equivalent of such notice. Waivers of
notice by Holders of Securities shall be filed with the Trustee, but such
filing shall not be a condition precedent to the validity of any action taken
in reliance upon such waiver. 

          All
communications hereunder will be in writing and will be mailed, delivered or
sent via facsimile and confirmed to the party receiving such communication at
its address or facsimile number indicated below: 

	
  

 	
  

 	
  

 
	
  

 	
 If to the
 Company: 

 
	
  

 	
  

 
	
  

 	
  

 	
 CIT Group
 Inc. 

 1 CIT Drive 

 
	
  

 	
  

 	
 Livingston,
 New Jersey 07039 

 Facsimile: (973) 740-5750 

 Facsimile: (973) 740-5264 

 
	
  

 	
  

 	
 Attention:
 Treasurer and General Counsel 

 
	
  

 	
  

 
	
  

 	
 If to the
 Trustee: 

 
	
  

 	
  

 
	
  

 	
  

 	
 Deutsche
 Bank Trust Company Americas 

 60 Wall Street, 26th Floor 

 New York, NY 10005 

 Facsimile: (212) 553-2460 

 Attention: Corporate Trust Administration 

 

          Section
1.7. Language of Notices. Any request, demand, authorization, direction,
notice, consent, election or waiver required or permitted under this Indenture
shall be in the English language, except 

-13-

that, if the
Company so elects, any published notice may be in an official language of the
country of publication. 

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

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

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

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

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

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

          Section
1.14. Legal Holidays. Unless otherwise specified in or pursuant to this
Indenture or any Securities, in any case where any Interest Payment Date,
Stated Maturity or Maturity of any Security, or the last date on which a Holder
has the right to convert or exchange Securities of a series that are
convertible or exchangeable, shall not be a Business Day at any Place of
Payment, then (notwithstanding any other provision of this Indenture, any
Security or any Coupon other than a provision in any Security or Coupon that
specifically states that such provision shall apply in lieu hereof) payment
need not be made at such Place of Payment on such date, and such Securities
need not be converted or exchanged on such date, but such payment may be made,
and such Securities may be converted or exchanged, on the next succeeding day
that is a Business Day at such Place of Payment, and no interest shall accrue
on the amount payable on such date or at such time for the period from and
after such Interest Payment Date, Stated Maturity, Maturity or last day for
conversion or exchange, as the case may be, to such next succeeding Business
Day, except that if such next succeeding Business Day is in the next succeeding
calendar year, such payment may be made, and such Securities may be converted
or exchanged, on the immediately preceding Business Day (in the case of each of
the foregoing, with the same force and effect as if made on such Interest
Payment Date or at such Stated Maturity or Maturity or on such last day for
conversion or exchange, as the case may be). 

          Section
1.15. Counterparts. This Indenture may be executed in any number of
counterparts, each of which shall be an original and all of which shall
constitute but one and the same instrument. Delivery of an executed counterpart
of this Indenture by telefacsimile or by any electronic imaging, electronic
mail or other similar means shall be effective as delivery of a manually
executed counterpart of this Indenture. 

          Section
1.16. Judgment Currency. The Company agrees, to the fullest extent that
it may effectively do so under applicable law, that (a) if for the purpose of
obtaining judgment in any court it is neces-

-14-

sary to
convert the sum due in respect of the principal of, or premium or interest, if
any, (the “Required Currency”)
into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange
used shall be the rate at which in accordance with normal banking procedures
the Trustee could purchase in The City of New York the requisite amount of the
Required Currency with the Judgment Currency on the New York Banking Day
preceding the day on which a final unappealable judgment is given and (b) its
obligations under this Indenture to make payments in the Required Currency (i)
shall not be discharged or satisfied by any tender, or any recovery pursuant to
any judgment (whether or not entered in accordance with clause (a)), in any
currency other than the Required Currency, except to the extent that such tender
or recovery shall result in the actual receipt, by the payee, of the full
amount of the Required Currency expressed to be payable in respect of such
payments, (ii) shall be enforceable as an alternative or additional cause of
action for the purpose of recovering in the Required Currency the amount, if
any, by which such actual receipt shall fall short of the full amount of the
Required Currency so expressed to be payable and (iii) shall not be affected by
judgment being obtained for any other sum due under this Indenture. For
purposes of the foregoing, “New York Banking
Day” means any day except a Saturday, Sunday or a legal holiday in
The City of New York or a day on which banking institutions in The City of New
York are authorized or obligated by law, regulation or executive order to be
closed. 

          Section
1.17. Limitation on Individual Liability. No recourse under or upon any
obligation, covenant or agreement contained in this Indenture or in any
Security, or for any claim based thereon or otherwise in respect thereof, shall
be had against any incorporator, shareholder, employee, officer or director, as
such, past, present or future, of the Company, either directly or through the
Company, 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, shareholders,
employees, officers or directors, as such, of the Company, or any of them,
because of the creation of the indebtedness hereby authorized, or under or by
reason of the obligations, covenants or agreements contained in this Indenture
or in any Security or 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, shareholder, employee, officer or director, as such,
because of the creation of the indebtedness hereby authorized, or under or by
reason of the obligations, covenants or agreements contained in this Indenture
or in any Security or 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 Security. 

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

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

          Section
1.20. Patriot Act. The parties hereto acknowledge that in accordance
with Section 326 of the USA Patriot Act, the Trustee is required to obtain,
verify and record information that identifies 

-15-

each person or
legal entity that establishes a relationship or opens an account with it. The
Company agrees that it will, and will cause its Subsidiaries to, provide the
Trustee with such information as it may reasonably request in order for the
Trustee to satisfy the applicable requirements of the USA Patriot Act. 

ARTICLE 2

SECURITIES FORMS

          Section
2.1. Forms Generally. Provisions relating to the Initial Securities and
the Exchange Securities are set forth in Appendix A, which is hereby
incorporated in and expressly made a part of this Indenture. The Securities and
the Trustee’s certificate of authentication are hereby incorporated in and
expressly made a part of this Indenture. The Securities may have notations,
legends or endorsements required by law, stock exchange rule, agreements to
which the Company is subject, if any, or depository procedure or usage
(provided that any such notation, legend or endorsement is in a form acceptable
to the Company). Each Security shall be dated the date of its authentication.
The terms of the Securities are part of the terms of this Indenture. The
Securities shall be issued only in registered form without interest coupons and
in denominations of $2,000 and any integral multiples of $1,000. 

          Unless
otherwise provided in or pursuant to this Indenture or any Securities, the
Securities shall be issuable in registered form without Coupons and shall not
be issuable upon the exercise of warrants. 

          Definitive
Securities and definitive Coupons shall be printed, lithographed or engraved or
produced by any combination of these methods on a steel engraved border or
steel engraved borders or may be produced in any other manner, all as
determined by the officers of the Company executing such Securities or Coupons,
as evidenced by their execution of such Securities or Coupons. 

          Section
2.2. Form of Trustee’s Certificate of Authentication. The Securities and
the Trustee’s certificate of authentication are hereby incorporated in and
expressly made a part of this Indenture. 

          Section
2.3. Securities in Global Form. Unless otherwise provided in or pursuant
to this Indenture or any Securities, the Securities shall not be issuable in
temporary or permanent global form. If Securities of a series shall be issuable
in global form, as specified and contemplated by Section 3.1, any such Security
may provide that it or any number of such Securities shall represent the
aggregate amount of all Outstanding Securities of such series (or such lesser
amount as is permitted by the terms thereof) from time to time endorsed thereon
and may also provide that the aggregate amount of Outstanding Securities
represented thereby may from time to time be increased or reduced to reflect
exchanges. Any endorsement of any Security in global form to reflect the
amount, or any increase or decrease in the amount, or changes in the rights of
Holders, of Outstanding Securities represented thereby shall be made in such
manner and by such Person or Persons as shall be specified therein or in the
Company Order to be delivered pursuant to Section 3.3 or 3.4 with respect
thereto. Subject to the provisions of Section 3.3 and, if applicable, Section
3.4, the Trustee shall deliver and redeliver, in each case at the Company’s
expense, any Security in permanent global form in the manner and upon
instructions given by the Person or Persons specified therein or in the
applicable Company Order. If a Company Order pursuant to Section 3.3 or 3.4 has
been, or simultaneously is, delivered, any instructions by the Company with
respect to a Security in global form shall be in writing. 

          Notwithstanding
the provisions of Section 3.7, unless otherwise specified in or pursuant to
this Indenture or any Securities, payment of principal of, any premium and
interest on, any Security (i) in temporary form shall be made to the Person or
Persons specified therein, and (ii) in global form and registered in the name
of a Depository or its nominee shall be made to the Depository or its nominee
as the Holder of such global Security. Neither the Company nor the Trustee shall
have any responsibility or 

-16-

liability for
any aspect of the records relating to, or payments made on account of,
beneficial ownership interests of a global Security, or for maintaining,
supervising or reviewing any records relating to beneficial ownership
interests, and each of the Company and the Trustee may act or refrain from
acting without liability on any information provided by the Depository. 

          Notwithstanding
the provisions of Section 3.8 and except as provided in the preceding paragraph,
the Company, the Trustee and any agent of the Company or the Trustee shall
treat as the Holder of such principal amount of Outstanding Securities
represented by a global Security (i) in the case of a global Security in
registered form, the Holder of such global Security in registered form, or (ii)
in the case of a global Security in bearer form, the Person or Persons
specified pursuant to Section 3.1. 

ARTICLE 3

THE SECURITIES

          Section
3.1. Amount Unlimited; Issuable in Series. The aggregate principal
amount of Securities which may be authenticated and delivered under this
Indenture is unlimited. The Securities may be issued in one or more series. 

          With
respect to any Securities to be authenticated and delivered hereunder, there
shall be established in or pursuant to a Board Resolution and set forth in an
Officers’ Certificate, or established in one or more indentures supplemental
hereto, 

	
  

 	
  

 
	
  

 	
           (1)
 the title and series of such Securities, which may include medium-term notes;
 

 
	
  

 	
  

 
	
  

 	
           (2)
 the total principal amount of the series of such Securities and whether there
 shall be any limit upon the aggregate principal amount of such Securities
 that may be authenticated and delivered under this Indenture (except for
 Securities authenticated and delivered upon registration or transfer of, or
 in exchange for, or in lieu of, other Securities of such series pursuant to
 Section 3.4, 3.5, 3.6, 9.5 or 11.7); 

 
	
  

 	
  

 
	
  

 	
           (3)
 if such Securities are to be issuable as Registered Securities, as Bearer
 Securities or alternatively as Bearer Securities and Registered Securities,
 and whether the Bearer Securities are to be issuable with Coupons, without
 Coupons or both, and any restrictions applicable to the offer, sale or
 delivery of the Bearer Securities and the terms, if any, upon which Bearer
 Securities may be exchanged for Registered Securities and vice versa; 

 
	
  

 	
  

 
	
  

 	
           (4)
 if any of such Securities are to be issuable in global form, when any of such
 Securities are to be issuable in global form and (i) whether such Securities
 are to be issued in temporary or permanent global form or both, (ii) whether
 beneficial owners of interests in any such global Security may exchange such
 interests for Securities of the same series and of like tenor and of any
 authorized form and denomination, and the circumstances under which any such
 exchanges may occur, if other than in the manner specified in Section 3.5,
 and (iii) the name of the Depository or the U.S. Depository, as the case may
 be, with respect to any such global Security; 

 
	
  

 	
  

 
	
  

 	
           (5)
 if any of such Securities are to be issuable as Bearer Securities or in
 global form, the date as of which any such Bearer Security or global Security
 shall be dated (if other than the date of original issuance of the first of
 such Securities to be issued); 

 
	
  

 	
  

 
	
  

 	
           (6)
 if any of such Securities are to be issuable as Bearer Securities, whether
 interest in respect of any portion of a temporary Bearer Security in global
 form payable in respect of an 

 

-17-

	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
           (7)
 the date or dates, or the method or methods, if any, by which such date or
 dates shall be determined, on which the principal of and premium, if any, on
 the Securities shall be payable; 

 
	
  

 	
  

 
	
  

 	
           (8)
 the Person to whom any interest on a Security shall be payable, if other than
 the Person in whose name that Security is registered at the close of business
 on the Regular Record Date for such interest; the rate or rates at which such
 Securities shall bear interest, if any, which rate may be zero in the case of
 certain Securities issued at an issue price representing a discount from the
 principal amount payable at Maturity, or the method by which such rate or
 rates will be determined (including, if applicable, any remarketing option or
 similar method), and the date or dates from which such interest, if any, will
 accrue or the method by which such date or dates will be determined, and the
 basis upon which interest shall be calculated if other than that of a 360 day
 year of twelve 30-day months; 

 
	
  

 	
  

 
	
  

 	
           (9)
 the date or dates on which interest, if any, on such Securities shall be
 payable and any Regular Record Dates applicable to the date or dates on which
 interest will be so payable; 

 
	
  

 	
  

 
	
  

 	
           (10)
 if in addition to or other than the Borough of Manhattan, The City of New
 York, the place or places where the principal of or any premium or interest
 on such Securities shall be payable, where any of such Securities that are
 issued in registered form may be surrendered for registration of, transfer or
 exchange, and where any such Securities may be surrendered for conversion or
 exchange and notices of demands to or upon the Company in respect of such
 Securities and this Indenture may be served, the extent to which, the manner
 in which, any interest payment on a global Security on an Interest Payment
 Date, will be paid and the manner in which any principal of or premium, if
 any, on any global Security will be paid; 

 
	
  

 	
  

 
	
  

 	
           (11)
 if such Securities are to be redeemable at the Company’s option, the date or
 dates on which, the period or periods within which, the price or prices at
 which and the other terms and conditions upon which such Securities may be
 redeemed, in whole or in part, at the Company’s option pursuant to any sinking
 fund or otherwise; 

 
	
  

 	
  

 
	
  

 	
           (12)
 provisions specifying whether the Company shall be obligated to redeem,
 purchase or repay any of such Securities pursuant to any sinking fund or
 analogous provision or at the option of any Holder of such Securities and, if
 so, the date or dates on which, the period or periods within which, the price
 or prices at which and the other terms and conditions upon which such
 Securities shall be redeemed, purchased or repaid, in whole or in part,
 pursuant to such obligation, and any provisions for the remarketing of such
 Securities so redeemed or purchased; 

 
	
  

 	
  

 
	
  

 	
           (13)
 if other than denominations of $2,000, and any integral multiple of $1,000
 thereof, the denominations in which any Securities to be issued in registered
 form will be issuable and, if other than a denomination of $5,000, the
 denominations in which any Securities to be issued in bearer form will be
 issuable; 

 

-18-

	
  

 	
  

 
	
  

 	
           (14)
 provisions specifying whether the Securities will be convertible into other
 securities or property of any Person (including the Company) and/or
 exchangeable for securities or property of any Person (including the Company)
 and, if so, the terms and conditions upon which such Securities shall be so
 convertible or exchangeable; 

 
	
  

 	
  

 
	
  

 	
           (15)
 if other than the principal amount, the portion of the principal amount (or
 the method by which such portion will be determined) of such Securities that
 will be payable upon declaration of acceleration of the Maturity thereof
 pursuant to the terms of this Indenture; 

 
	
  

 	
  

 
	
  

 	
           (16)
 the guarantors, if any, of the Securities of the series, and the extent of
 the guarantees (including provisions relating to seniority, subordination,
 and the release of the guarantors), if any, and any additions or changes to
 permit or facilitate guarantees of such Securities; 

 
	
  

 	
  

 
	
  

 	
           (17)
 whether the Securities of such series are subject to subordination and the
 terms of such subordination;

 
	
  

 	
  

 
	
  

 	
           (18)
 any restriction or condition on the transferability of the Securities of such
 series; 

 
	
  

 	
  

 
	
  

 	
           (19)
 whether the Securities of the series to be issued will be Original Issue
 Discount Securities and the amount of discount with which such Securities may
 be issued; 

 
	
  

 	
  

 
	
  

 	
           (20)
 the form of the Securities of the series in accordance with Section 2.1; 

 
	
  

 	
  

 
	
  

 	
           (21)
 if other than Dollars, the Currency of payment, including composite
 Currencies and Foreign Currencies, of the principal of, any premium or
 interest on any of such Securities; 

 
	
  

 	
  

 
	
  

 	
           (22)
 if other than as provided in Section 4.2, the manner in which the Securities
 of the series are to be defeased; 

 
	
  

 	
  

 
	
  

 	
           (23)
 provisions specifying whether the principal of, or any premium or interest on
 such Securities shall be payable, at the election of the Company or a Holder,
 in a Currency other than that in which such Securities are stated to be
 payable and the date or dates on which, the period or periods within which,
 and the other terms and conditions upon which, such election may be made, and
 the time and manner of determining the exchange rate; 

 
	
  

 	
  

 
	
  

 	
           (24)
 any index, formula or other method used to determine the amount of payments
 of principal of, or any premium or interest on such Securities; 

 
	
  

 	
  

 
	
  

 	
           (25)
 provisions specifying whether such Securities are to be issued in the form of
 one or more global Securities and, if so, the identity of the Depository for
 such global Security or Securities; 

 
	
  

 	
  

 
	
  

 	
           (26)
 any deletions from, modifications of or additions to the Events of Default or
 covenants of the Company that are contained herein with respect to such
 Securities; 

 
	
  

 	
  

 
	
  

 	
           (27)
 terms specifying whether the provisions described below under Section 4.2
 shall be applicable to such Securities; 

 
	
  

 	
  

 
	
  

 	
           (28)
 terms specifying whether any of such Securities are to be issued upon the
 exercise of warrants, and the time, manner and place for such Securities to
 be authenticated and delivered; and 

 

-19-

	
  

 	
  

 
	
  

 	
           (29)
 any other terms of such Securities and any other deletions from or
 modifications or additions to this Indenture in respect of such Securities. 

 

          All
Securities of any one series and all Coupons, if any, appertaining to Bearer
Securities of such series shall be substantially identical except as to
Currency of payments due thereunder, denomination and the rate of interest
thereon, or method of determining the rate of interest, if any, Maturity, and
the date from which interest, if any, shall accrue and except as may otherwise
be provided by the Company in or pursuant to the Board Resolution and set forth
in the Officers’ Certificate or in any indenture or indentures supplemental
hereto pertaining to such series of Securities. The terms of the Securities of
any series may provide, without limitation, that the Securities shall be
authenticated and delivered by the Trustee on original issue from time to time
upon written order of persons designated in the Officers’ Certificate or
supplemental indenture and that such persons are authorized to determine,
consistent with such Officers’ Certificate or any applicable supplemental
indenture, such terms and conditions of the Securities of such series as are
specified in such Officers’ Certificate or supplemental indenture. All
Securities of any one series need not be issued at the same time and, unless
otherwise so provided, a series may be reopened for issuances of Additional
Securities of such series or to establish additional terms of such series of
Securities pursuant to Section 3.12. The Company also may issue, and the
Trustee may authenticate, Securities with the same terms as previously issued
Securities. 

          If
any of the terms of the Securities of any series shall be established by action
taken by or pursuant to a Board Resolution, the Board Resolution shall be
delivered to the Trustee at or prior to the delivery of the Officers’
Certificate setting forth the terms of such series. 

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

          Section
3.3. Execution, Authentication, Delivery and Dating. Securities shall be
executed on behalf of the Company by its Chairman of the Board, a Vice
Chairman, its President, its Chief Executive Officer, its Chief Financial
Officer, its Treasurer or a Vice President and attested by its Secretary or one
of its Assistant Secretaries. Coupons shall be executed on behalf of the
Company by the Treasurer or any Assistant Treasurer of the Company. The
signature of any of these officers on the Securities or any Coupons
appertaining thereto may be manual or facsimile. 

          Securities
and any Coupons appertaining thereto bearing the manual or facsimile signatures
of individuals who were at any time the proper officers of the Company shall
bind the Company, notwithstanding that such individuals or any of them have
ceased to hold such offices prior to the authentication and delivery of such
Securities and Coupons or did not hold such offices at the date of original
issuance of such Securities or Coupons. 

          At
any time and from time to time on and/or after the execution and delivery of
this Indenture, the Company may deliver Securities, together with any Coupons
appertaining thereto, executed by the Company, to the Trustee for
authentication and, provided that the Board Resolution and Officers’
Certificate or supplemental indenture or indentures with respect to such
Securities referred to in Section 3.1 and a Company Order for the
authentication and delivery of such Securities have been delivered to the
Trustee, the Trustee in accordance with the Company Order and subject to the
provisions hereof and of such Securities shall authenticate and deliver such
Securities. In authenticating such Securities, and accepting the 

-20-

additional
responsibilities under this Indenture in relation to such Securities and any
Coupons appertaining thereto, the Trustee shall be given, and (subject to
Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully
protected in relying upon, 

                    (1)
an Opinion of Counsel to the effect that: 

	
  

 	
  

 
	
  

 	
           (a)
 the form or forms and the terms of such Securities and any Coupons have been
 established in conformity with the provisions of this Indenture; and 

 
	
  

 	
  

 
	
  

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

 

	
  

 	
  

 
	
  

 	
           (2)
 an Officers’ Certificate stating that, to the best knowledge of the Persons
 executing such certificate, all conditions precedent to the execution,
 authentication and delivery of such Securities and Coupons, if any,
 appertaining thereto, have been complied with, and no event which is, or
 after notice or lapse of time would become, an Event of Default with respect
 to any of the Securities shall have occurred and be continuing.

 

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

          Each
Registered Security shall be dated the date of its authentication. Each Bearer
Security and any Bearer Security in global form shall also be dated the date of
its authentication. 

          No
Security or Coupon appertaining thereto shall be entitled to any benefit under
this Indenture or be valid or obligatory for any purpose, unless there appears
on such Security a certificate of authentication substantially in the form provided
for in Section 2.2 or 6.11 executed by or on behalf of the Trustee or by the
Authenticating Agent by the manual signature of one of its authorized officers.
Such certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered
hereunder. Except as permitted by Section 3.6, the Trustee shall not
authenticate and deliver any Bearer Security unless all Coupons appertaining
thereto then matured have been detached and cancelled. 

          Section
3.4. Temporary Securities. Pending the preparation of definitive
Securities, the Company may execute and deliver to the Trustee and, upon
Company Order, the Trustee shall authenticate and deliver, in the manner
provided in Section 3.3, temporary Securities in lieu thereof which are
printed, lithographed, typewritten, mimeographed or otherwise produced, in any
authorized denomination, substantially of the tenor of the definitive
Securities in lieu of which they are issued, in registered form or, if
authorized in or pursuant to this Indenture, in bearer form with one or more
Coupons or without Coupons 

-21-

and with such
appropriate insertions, omissions, substitutions and other variations as the
officers of the Company executing such Securities may determine, as
conclusively evidenced by their execution of such Securities. Such temporary
Securities may be in global form. 

          Except
in the case of temporary Securities in global form, which shall be exchanged in
accordance with the provisions thereof, if temporary Securities are issued, the
Company shall cause definitive Securities to be prepared without unreasonable
delay. After the preparation of definitive Securities of the same series and
containing terms and provisions that are identical to those of any temporary
Securities, such temporary Securities shall be exchangeable for such definitive
Securities upon surrender of such temporary Securities at an Office or Agency
for such Securities, without charge to any Holder thereof. Upon surrender for
cancellation of any one or more temporary Securities (accompanied by any
unmatured Coupons appertaining thereto), the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor an equal aggregate
principal amount of definitive Securities of authorized denominations of the
same series and containing identical terms and provisions; provided, however,
that no definitive Bearer Security, except as provided in or pursuant to this
Indenture, shall be delivered in exchange for a temporary Registered Security;
and provided, further, that a definitive Bearer Security shall be delivered in
exchange for a temporary Bearer Security only in compliance with the conditions
set forth in or pursuant to this Indenture. Unless otherwise provided in or
pursuant to this Indenture with respect to a temporary global Security, until
so exchanged the temporary Securities of any series shall in all respects be
entitled to the same benefits under this Indenture as definitive Securities of
such series. 

          Section
3.5. Registration, Transfer and Exchange. With respect to the Registered
Securities of each series, if any, the Company shall cause to be kept a
register (each such register being herein sometimes referred to as the “Security
Register”) at an Office or Agency for such series in which, subject to such
reasonable regulations as it may prescribe, the Company shall provide for the
registration of the Registered Securities of such series and of transfers of
the Registered Securities of such series. Such Office or Agency shall be the
“Security Registrar” for that series of Securities. Unless otherwise specified
in or pursuant to this Indenture or the Securities, the Trustee shall be the
initial Security Registrar for each series of Securities. The Company shall
have the right to remove and replace from time to time the Security Registrar
for any series of Securities; provided that no such removal or replacement
shall be effective until a successor Security Registrar with respect to such
series of Securities shall have been appointed by the Company and shall have
accepted such appointment by the Company. In the event that the Trustee shall
not be or shall cease to be Security Registrar with respect to a series of
Securities, it shall have the right to examine the Security Register for such
series at all reasonable times. The Company shall be required to maintain a
Security Registrar in each place where the principal of and premium or interest
on any Security is payable. There shall be only one Security Register for each
series of Securities. 

          The
Securities shall be transferable upon the surrender of a Security for
registration of transfer and in compliance with Appendix A. 

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

          At
the option of the Holder, certificated Securities (including Bearer Securities)
and the right to receive the principal, premium and interest, if any, on any
certificated Security may be transferred by a Holder by surrendering such
certificate representing the certificated Securities at the Corporate Trust
Office of the Trustee. Such certificate representing the certificated
Securities may be reissued by the Com-

-22-

pany or the
Trustee to a new Holder or a new certificate representing the certificated
Securities may be issued by the Company or the Trustee to a new Holder. 

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

          If
provided in or pursuant to this Indenture, with respect to Securities of any
series, at the option of the Holder, Bearer Securities of such series may be
exchanged for Registered Securities of such series containing identical terms,
denominated as authorized in or pursuant to this Indenture and in the same
aggregate principal amount, upon surrender of the Bearer Securities to be exchanged
at any Office or Agency for such series, with all unmatured Coupons and all
matured Coupons in default thereto appertaining. If the Holder of a Bearer
Security is unable to produce any such unmatured Coupon or Coupons or matured
Coupon or Coupons in default, such exchange may be effected if the Bearer
Securities are accompanied by payment in funds acceptable to the Company and
the Trustee in an amount equal to the face amount of such missing Coupon or
Coupons, or the surrender of such missing Coupon or Coupons may be waived by
the Company and the Trustee if there is furnished to them such security or
indemnity as they may require to save each of them and any Paying Agent
harmless. If thereafter the Holder of such Bearer Security shall surrender to
any Paying Agent any such missing Coupon in respect of which such a payment
shall have been made, such Holder shall be entitled to receive the amount of
such payment; provided, however, that, except as otherwise
provided in Section 10.2, interest represented by Coupons shall be payable only
upon presentation and surrender of those Coupons at an Office or Agency for
such series located outside the United States. Notwithstanding the foregoing,
in case a Bearer Security of any series is surrendered at any such Office or
Agency for such series in exchange for a Registered Security of such series and
like tenor after the close of business at such Office or Agency on (i) any
Regular Record Date and before the opening of business at such Office or Agency
on the next succeeding Interest Payment Date, or any Special Record Date and
before the opening of business at such Office or Agency on the related date for
payment of Defaulted Interest, such Bearer Security shall be surrendered
without the Coupon relating to such Interest Payment Date or proposed date of
payment, as the case may be (or, if such Coupon is so surrendered with such
Bearer Security, such Coupon shall be returned to the Person so surrendering
the Bearer Security), and interest or Defaulted Interest, as the case may be,
shall not be payable on such Interest Payment Date or proposed date for
payment, as the case may be, in respect of the Registered Security issued in
exchange for such Bearer Security, but shall be payable only to the Holder of
such Coupon when due in accordance with the provisions of this Indenture. 

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

          Whenever
any Securities are surrendered for exchange as contemplated by the immediately
preceding two paragraphs, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities that the Holder making the exchange is
entitled to receive. 

          Notwithstanding
the foregoing, except as otherwise provided in or pursuant to this Indenture,
any global Security shall be exchangeable for certificated Securities only if
(i) the Depository is at any time unwilling, unable or ineligible to continue
as Depository and a successor depository is not appointed by the Company within
90 days of the date the Company is so informed in writing, the Company, in its
discretion, determines not to require all of the Securities of a series to be
represented by a global Security 

-23-

and notifies
the Trustee of its decision by executing and delivering to the Trustee a
Company Order to the effect that such global Security shall be so exchangeable
or (iii) an Event of Default has occurred and is continuing, the Company, the
Trustee, the Security Registrar and the Paying Agent shall have notified the
Depository that the global Security shall be exchangeable for certificated
Securities. If the beneficial owners of interests in a global Security are
entitled to exchange such interests for definitive Securities as the result of
an event described in clause (i), or (iii) of the preceding sentence, then
without unnecessary delay but in any event not later than the earliest date on
which such interests may be so exchanged, the Company shall deliver to the
Trustee definitive Securities in such form and denominations as are required by
or pursuant to this Indenture, and of the same series, containing identical
terms and in aggregate principal amount equal to the principal amount of such
global Security, executed by the Company. On or after the earliest date on
which such interests may be so exchanged, such global Security shall be
surrendered from time to time by the U.S. Depository or such other Depository
as shall be specified in the Company Order with respect thereto, and in
accordance with instructions given to the Trustee and the U.S. Depository or
such other Depository, as the case may be (which instructions shall be in
writing but need not be contained in or accompanied by an Officers’ Certificate
or be accompanied by an Opinion of Counsel), as shall be specified in the
Company Order with respect thereto to the Trustee, as the Company’s agent for
such purpose, to be exchanged, in whole or in part, for definitive Securities
as described above without charge. The Trustee shall authenticate and make
available for delivery, in exchange for each portion of such surrendered global
Security, a like aggregate principal amount of definitive Securities of the
same series of authorized denominations and of like tenor as the portion of
such global Security to be exchanged, which (unless such Securities are not
issuable both as Bearer Securities and as Registered Securities, in which case
the definitive Securities exchanged for the global Security shall be issuable
only in the form in which the Securities are issuable, as provided in or
pursuant to this Indenture) shall be in the form of Bearer Securities or
Registered Securities, or any combination thereof, as shall be specified by the
beneficial owner thereof, but subject to the satisfaction of any certification
or other requirements to the issuance of Bearer Securities; provided, however,
that (unless otherwise provided in or pursuant to this Indenture) no Bearer
Security delivered in exchange for a portion of a global Security shall be
mailed or otherwise delivered to any location in the United States. Promptly
following any such exchange in part, such global Security shall be returned by
the Trustee to such Depository or the U.S. Depository, as the case may be, or
such other Depository or U.S. Depository referred to above in accordance with
the instructions of the Company referred to above. If a Registered Security is
issued in exchange for any portion of a global Security after the close of
business at the Office or Agency for such Security where such exchange occurs
on or after (i) any Regular Record Date for such Security and before the
opening of business at such Office or Agency on the next succeeding Interest
Payment Date, or any Special Record Date for such Security and before the
opening of business at such Office or Agency on the related proposed date for
payment of interest or Defaulted Interest, as the case may be, interest shall
not be payable on such Interest Payment Date or proposed date for payment, as
the case may be, in respect of such Registered Security, but shall be payable
on such Interest Payment Date or proposed date for payment, as the case may be,
only to the Person to whom interest in respect of such portion of such global
Security shall be payable in accordance with the provisions of this Indenture. 

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

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

-24-

          No
service charge shall be made for any registration of transfer or exchange, or
redemption of Securities, but the Company may require payment of a sum
sufficient to cover any stamp tax or other governmental charge and any other
reasonable expenses (including fees and expenses of the Trustee) that may be
imposed in connection with any registration of transfer or exchange of
Securities, other than exchanges pursuant to Section 3.4, 3.6, 9.5 or 11.7 not
involving any transfer. 

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

          Section
3.6. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated
Security or a Security with a mutilated Coupon appertaining to it is
surrendered to the Trustee, subject to the provisions of this Section 3.6, the
Company shall execute and the Trustee shall authenticate and deliver in
exchange therefor a new Security of the same series containing identical terms
and of like principal amount and bearing a number not contemporaneously
outstanding, with Coupons appertaining thereto corresponding to the Coupons, if
any, appertaining to the surrendered Security. 

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

          Notwithstanding
the foregoing provisions of this Section 3.6, in case any mutilated, destroyed,
lost or stolen Security or Coupon has become or is about to become due and
payable, the Company in its discretion may, instead of issuing a new Security,
pay such Security or Coupon; provided, however, that payment of principal of,
and any premium or interest, if any, on any Bearer Securities shall, except as
otherwise provided in Section 10.2, be payable only at an Office or Agency for
such Securities located outside the United States. 

          Upon
the issuance of any new Security under this Section 3.6, the Company may
require the payment of a sum sufficient to cover any stamp 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. 

-25-

          Every
new Security, with any Coupons appertaining thereto issued pursuant to this
Section 3.6 in lieu of any destroyed, lost or stolen Security, or in exchange
for a Security to which a destroyed, lost or stolen Coupon appertains shall
constitute a separate obligation of the Company, whether or not the destroyed,
lost or stolen Security and Coupons appertaining thereto or the destroyed, lost
or stolen Coupon shall be at any time enforceable by anyone, and shall be
entitled to all the benefits of this Indenture equally and proportionately with
any and all other Securities of such series and any Coupons, if any, duly
issued hereunder. 

          The
provisions of this Section 3.6, as amended or supplemented pursuant to this
Indenture with respect to particular Securities or generally, shall be
exclusive and shall preclude (to the extent lawful) all other rights and
remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities or Coupons. 

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

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

	
  

 	
  

 
	
  

 	
           (1)
 The Company may elect to make payment of any Defaulted Interest to the Person
 in whose name such Registered Security (or a Predecessor Security thereof)
 shall be registered at the close of business on a Special Record Date for the
 payment of such Defaulted Interest, which shall be fixed by the Company in
 the following manner. The Company shall notify the Trustee in writing of the
 amount of Defaulted Interest proposed to be paid on such Registered Security,
 the Special Record Date therefor and the date of the proposed payment, and at
 the same time the Company shall deposit with the Trustee an amount of money
 equal to the aggregate amount proposed to be paid in respect of such
 Defaulted Interest or shall make arrangements reasonably satisfactory to the
 Trustee for such deposit on or prior to the date of the proposed payment,
 such money when so deposited to be held in trust for the benefit of the
 Person entitled to such Defaulted Interest as in this clause provided. The
 Special Record Date for the payment of such Defaulted Interest shall be not
 more than 15 days and not less than 10 days prior to the date of the proposed
 payment and not less than 10 days after notification to the Trustee of the
 proposed payment. The Trustee shall, in the name and at the expense of the
 Company cause notice of the proposed payment of such Defaulted Interest and
 the Special Record Date therefor to be mailed, first-class postage prepaid,
 to the Holder of such Registered Security (or a Predecessor Security thereof)
 at his address as it appears in the Security Register not less than 10 days
 prior to such Special Record Date. The Trustee may, in its discretion, in the
 name and at the expense of the Company cause a similar notice to be published
 at least once in an Authorized Newspaper of general circulation in the
 Borough of Manhattan, The City of New York, but such publication shall not be
 a condition precedent to the establishment of such Special Record Date.
 Notice of the proposed payment of such Defaulted Interest and the Special
 Record Date therefor having been mailed as aforesaid, such Defaulted Interest
 shall be paid to the Person in whose name such Registered Security (or a
 Predecessor Security thereof) shall be registered at the close of business on
 such Special Record Date and shall no longer be payable pursuant to the
 following clause (2). 

 

-26-

	
  

 	
  

 
	
  

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

 

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

          Notwithstanding
the foregoing, a holder of $1,000,000 or more in aggregate principal amount of
Securities of any series of global Securities (or its equivalent in a Foreign
Currency, if the currency unit is a Foreign Currency), whether having identical
or different terms and provisions, having the same interest payment dates will
be entitled to receive interest payments, other than at Maturity, by wire
transfer of immediately available funds if appropriate wire transfer
instructions have been received in writing by the Trustee for the Securities of
such series at least 15 days prior to the applicable Interest Payment Date. In
addition to the foregoing, a holder of $1,000,000 or more in aggregate
principal amount of Securities of any series of global Securities (or its
equivalent in a Foreign Currency, if the currency unit is a Foreign Currency),
whether having identical or different terms and provisions, having the same
Maturity will be entitled to receive payment at Maturity by wire transfer of
immediately available funds if appropriate wire transfer instructions have been
received in writing by the Trustee for the Securities of such series at least
15 days prior to Maturity; provided, however, that such payments
shall be made subject to applicable laws and regulations and only after surrender
of the global Securities to the Company, the corporate trust office or the
Paying Agent, for such global Securities not later than one Business Day prior
to Maturity. Any wire instructions received by the Trustee for the Securities
of such series shall remain in effect until revoked by the Holder. 

          Subject
to the foregoing provisions of this Section and Section 3.5, each Security
delivered under this Indenture upon registration of transfer of or in exchange
for or in lieu of any other Security shall carry the rights to interest accrued
and unpaid, and to accrue, which were carried by such other Security. 

          In
the case of any Registered Security of any series that is convertible into
other securities or property of any Person (including the Company) or
exchangeable for securities or property of any Person (including the Company),
which Registered Security is converted or exchanged after any Regular Record
Date and on or prior to the next succeeding Interest Payment Date (other than any
Registered Security with respect to which the Stated Maturity is prior to such
Interest Payment Date), interest with respect to which the Stated Maturity is
on such Interest Payment Date shall be payable on such Interest Payment Date
notwithstanding such conversion or exchange, and such interest (whether or not
punctually paid or duly provided for) shall be paid to the Person in whose name
that Registered Security (or one or more predecessor Registered Securities) is
registered at the close of business on such Regular Record Date. Except as
otherwise expressly provided in the immediately preceding sentence, in the case
of any Registered Security which is converted or exchanged, interest with
respect to which the Stated Maturity is after the date of conversion or
exchange of such Registered Security shall not be payable. 

          Section
3.8. Persons Deemed Owners. Prior to due presentment of a Registered
Security for registration of transfer, the Company, the Trustee and any agent
of the Company or the Trustee may treat the Person in whose name such
Registered Security is registered in the Security Register as the owner of such
Registered Security for the purpose of receiving payment of principal of, and
any premium or (sub-

-27-

ject to
Sections 3.5 and 3.7) interest, if any, on such Registered Security and for all
other purposes whatsoever, whether or not any payment with respect to such
Registered Security shall be overdue, and none of the Company, the Trustee or
any agent of the Company or the Trustee shall be affected by notice to the
contrary. 

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

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

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

          Section
3.10. Computation of Interest. Except as otherwise provided in or
pursuant to this Indenture or in any Security, interest on the Securities shall
be computed on the basis of a 360-day year of twelve 30-day months. 

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

          Section
3.12. Issuance of Additional Securities. The Company shall be entitled
to issue Securities under this Indenture which shall have identical terms as
Securities of a series previously issued under this Indenture (the “Original Securities”), other than with
respect to the date of issuance and issue price (“Additional Securities”). The Additional Securities will bear
any legend required by applicable law. Such Original Securities and any
Additional Securities shall be treated as a single series for all purposes
under this Indenture. Notwithstanding anything to the contrary in this
Indenture or Appendix A, any issuance of Additional Securities after the date
hereof shall be in a principal amount of at least $2,000 and integral multiples
of $1,000 in excess of $2,000. 

-28-

          With
respect to any Additional Securities, the Company shall set forth in a
resolution of the Board of Directors and an Officers’ Certificate, a copy of
each which shall be delivered to the Trustee or established in one or more
indentures supplemental thereto, the following information: 

	
  

 	
  

 
	
  

 	
           (1)
 the aggregate principal amount of such Additional Securities to be
 authenticated and delivered pursuant to this Indenture; and 

 
	
  

 	
  

 
	
  

 	
           (2)
 the issue price, the issue date and the CUSIP number of such Additional
 Securities; provided, however, that no Additional Securities
 may be issued at a price that would cause such Additional Securities to have
 “original issue discount” within the meaning of Section 1273 of the Internal
 Revenue Code. 

 

ARTICLE 4 

SATISFACTION AND DISCHARGE OF INDENTURE; 

DEFEASANCE AND COVENANT DEFEASANCE 

          Section
4.1. Satisfaction and Discharge. Upon the direction of the Company by a
Company Order, this Indenture shall cease to be of further effect with respect
to any series of Securities specified in such Company Order and any Coupons
appertaining thereto (except as to any surviving rights of Securities of such
series expressly provided for herein or pursuant thereto), and the Trustee, on
receipt of a Company Order, at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture as to
such series, when: 

	
  

 	
  

 
	
  

 	
 (1) either: 

 
	
  

 	
  

 
	
  

 	
           (a)
 all Securities of such series theretofore authenticated and delivered and all
 Coupons appertaining thereto (other than (i) Coupons appertaining to Bearer
 Securities of such series surrendered in exchange for Registered Securities
 of such series and maturing after such exchange whose surrender is not required
 or has been waived as provided in Section 3.5, (ii) Securities and Coupons of
 such series which have been destroyed, lost or stolen and which have been
 replaced or paid as provided in Section 3.6, (iii) Coupons appertaining to
 Securities of such series called for redemption and maturing after the
 relevant Redemption Date whose surrender has been waived as provided in
 Section 11.7, and (iv) Securities and Coupons of such series for whose
 payment money has theretofore been deposited in trust or segregated and held
 in trust by the Company and thereafter repaid to the Company or discharged
 from such trust, as provided in Section 10.3) have been delivered to the
 Trustee for cancellation; or 

 
	
  

 	
  

 
	
  

 	
           (b)
 all Securities of such series and, in the case of (i) or (ii) below, any
 Coupons appertaining thereto not theretofore delivered to the Trustee for
 cancellation, (i) have become due and payable, (ii) will become due and
 payable at their Stated Maturity within one year, or (iii) if redeemable at
 the option of the Company, are to be called for redemption within one year
 under arrangements reasonably satisfactory to the Trustee for the giving of
 notice of redemption by the Trustee in the name, and at the expense, of the
 Company, and the Company, in the case of (i), (ii) or (iii) above, has
 deposited or caused to be deposited with the Trustee as trust funds in trust
 for such purpose, money in the Currency in which such Securities are payable
 in an amount sufficient to pay and discharge the entire indebtedness on such
 Securities and any Coupons appertaining thereto not theretofore delivered to
 the Trustee for cancellation, including the principal of, and any premium or
 interest, if any, on such Securities and any Coupons appertaining thereto, 

 

-29-

	
  

 	
  

 
	
  

 	
 to the date
 of such deposit (in the case of Securities which have become due and payable)
 or to the Maturity thereof, as the case may be;

 

	
  

 	
  

 
	
  

 	
           (2)
 the Company has paid or caused to be paid all other sums payable hereunder by
 the Company with respect to the Outstanding Securities of such series and any
 Coupons appertaining thereto; and 

 
	
  

 	
  

 
	
  

 	
           (3)
 the Company has delivered to the Trustee an Opinion of Counsel and an
 Officers’ Certificate, each stating that all conditions precedent herein
 provided for relating to the satisfaction and discharge of this Indenture as
 to such series have been complied with. 

 

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

          Notwithstanding
the satisfaction and discharge of this Indenture with respect to any series of
Securities, the obligations of the Company to the Trustee under Section 6.7
and, if money shall have been deposited with the Trustee pursuant to subclause
(b) of clause (1) of this Section, the obligations of the Company and the
Trustee with respect to the Securities of each series under Sections 3.5, 3.6,
4.3, 10.2 and 10.3, and with respect to any rights to convert or exchange such
Securities into securities of the Company or another issuer, shall survive such
satisfaction and discharge. 

          Section
4.2. Defeasance and Covenant Defeasance. 

	
  

 	
  

 	
  

 
	
  

 	
           (1)
 Unless pursuant to Section 3.1, either or both of (i) defeasance of the
 Securities of or within a series under clause (2) of this Section 4.2 shall
 not be applicable with respect to the Securities of such series or (ii)
 covenant defeasance of the Securities of or within a series under clause (3)
 of this Section 4.2 shall not be applicable with respect to the Securities of
 such series, then such provisions, together with the other provisions of this
 Section 4.2 (with such modifications thereto as may be specified pursuant to
 Section 3.1 with respect to any Securities), shall be applicable to such
 Securities and any Coupons appertaining thereto, and the Company may at its
 option by Board Resolution, at any time, with respect to such Securities and
 any Coupons appertaining thereto, elect to have Section 4.2(2) or Section
 4.2(3) be applied to such Outstanding Securities and any Coupons appertaining
 thereto upon compliance with the conditions set forth below in this Section
 4.2. 

 
	
  

 	
  

 
	
  

 	
           (2)
 Upon the Company’s exercise of the above option applicable to this Section
 4.2(2) with respect to any Securities of or within a series, the Company
 shall be deemed to have been discharged from its obligations with respect to
 such Outstanding Securities and any Coupons appertaining thereto on the date
 the conditions set forth in clause (4) of this Section 4.2 are satisfied
 (hereinafter, “defeasance”). For
 this purpose, such defeasance means that the Company shall be deemed to have
 paid and discharged the entire Indebtedness represented by such Outstanding
 Securities and any Coupons appertaining thereto, which shall thereafter be
 deemed to be “Outstanding” only for the purposes of clause (5) of this
 Section 4.2 and the other Sections of this Indenture referred to in clauses
 (i) and below, and to have satisfied all of its other obligations under such
 Securities and any Coupons appertaining thereto, and this Indenture insofar as
 such Securities and any Coupons appertaining thereto are concerned (and the
 Trustee, at the expense of the Company, shall execute proper instruments
 acknowledging the same), except for the following which shall survive until
 otherwise terminated or discharged hereunder: (i) the rights of Holders of
 such Outstanding Securities and any Coupons appertaining thereto to receive,
 solely 

 

-30-

	
  

 	
  

 	
  

 
	
  

 	
 from the
 trust fund described in clause (4) of this Section 4.2 and as more fully set
 forth in such clause, payments in respect of the principal of (and premium,
 if any) and interest, if any, on such Securities and any Coupons appertaining
 thereto when such payments are due, and any rights of such Holder to convert
 such Securities into other securities of the Company or exchange such
 Securities for securities another issuer, the obligations of the Company and
 the Trustee with respect to such Securities under Sections 3.5, 3.6, 10.2 and
 10.3, and with respect to any rights to convert such Securities into other
 securities of the Company or exchange such Securities for securities of
 another issuer, (iii) the rights, powers, trusts, duties and immunities of
 the Trustee hereunder and this Section 4.2. The Company may exercise its
 option under this Section 4.2(2) notwithstanding the prior exercise of its
 option under clause (3) of this Section 4.2 with respect to such Securities
 and any Coupons appertaining thereto. 

 
	
  

 	
  

 
	
  

 	
           (3)
 Upon the Company’s exercise of the option to have this Section 4.2(3) apply
 with respect to any Securities of or within a series, the Company shall be
 released from its obligations under Sections 10.4 and 10.5, and, to the
 extent specified pursuant to Section 3.1, any other covenant applicable to
 such Securities, with respect to such Outstanding Securities and any Coupons
 appertaining thereto, on and after the date the conditions set forth in
 clause (4) of this Section 4.2 are satisfied (hereinafter, “covenant
 defeasance”), and such Securities and any Coupons appertaining thereto shall
 thereafter be deemed to be not “Outstanding” for the purposes of any
 direction, waiver, consent or declaration or Act of Holders (and the
 consequences of any thereof) in connection with any such covenant, but shall
 continue to be deemed “Outstanding” for all other purposes hereunder. For
 this purpose, such covenant defeasance means that, with respect to such
 Outstanding Securities and any Coupons appertaining thereto, the Company may
 omit to comply with, and shall have no liability in respect of, any term,
 condition or limitation set forth in any such Section or such other covenant,
 whether directly or indirectly, by reason of any reference elsewhere herein
 to any such Section or such other covenant or by reason of reference in any
 such Section or such other covenant to any other provision herein or in any
 other document and such omission to comply shall not constitute a default or
 an Event of Default under Section 5.1(4) or 5.1(7) or otherwise, as the case
 may be, but, except as specified above, the remainder of this Indenture and
 such Securities and Coupons appertaining thereto shall be unaffected thereby.
 

 
	
  

 	
  

 
	
  

 	
           (4)
 The following shall be the conditions to application of clause (2) or (3) of
 this Section 4.2 to any Outstanding Securities of or within a series and any
 Coupons appertaining thereto: 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (a) The
 Company shall irrevocably have deposited or caused to be deposited with the
 Trustee (or another trustee satisfying the requirements of Section 6.8 who
 shall agree to comply with the provisions of this Section 4.2 applicable to
 it) as trust funds in trust for the purpose of making the following payments,
 specifically pledged as security for, and dedicated solely to, the benefit of
 the Holders of such Securities and any Coupons appertaining thereto, (1) an
 amount in Dollars or in such Foreign Currency in which such Securities and
 any Coupons appertaining thereto are then specified as payable at Stated
 Maturity, or (2) Government Obligations applicable to such Securities and
 Coupons appertaining thereto (determined on the basis of the Currency in
 which such Securities and Coupons appertaining thereto are then specified as
 payable at Stated Maturity) which through the scheduled payment of principal
 and interest in respect thereof in accordance with their terms will provide,
 not later than one day before the due date of any payment of principal of
 (and premium, if any) and interest, if any, on such Securities and any
 Coupons appertaining thereto, money in an amount, or (3) a combination
 thereof, in any case, in an amount, sufficient, without consideration of any
 reinvestment of such principal and interest, in the opinion of a nationally
 recognized firm of Independent Pub-

 

-31-

	
  

 	
  

 
	
  

 	
 lic
 Accountants expressed in a written certification thereof delivered to the
 Trustee, to pay and discharge, and which shall be applied by the Trustee (or
 other qualifying trustee) to pay and discharge, (y) the principal of (and
 premium, if any) and interest, if any, on such Outstanding Securities and any
 Coupons appertaining thereto at the Stated Maturity of such principal or
 installment of principal or premium or interest and (z) any mandatory sinking
 fund payments or analogous payments applicable to such Outstanding Securities
 and any Coupons appertaining thereto on the days on which such payments are
 due and payable in accordance with the terms of this Indenture and of such
 Securities and any Coupons appertaining thereto; provided, that
 notwithstanding the foregoing, with respect to any Securities which shall at
 the time be listed for trading on the New York Stock Exchange, there shall be
 no deposit of funds in cash and/or in Government Obligations with the Trustee
 to pay the principal amount, the redemption price or any installment of
 interest in order to discharge the Company’s obligations in respect of such
 payment if, at such time, the rules of the New York Stock Exchange prohibit
 such deposit with the Trustee. 

 
	
  

 	
  

 
	
  

 	
           (b)
 Such defeasance or covenant defeasance shall not result in a breach or
 violation of, or constitute a default under, this Indenture or any other
 material agreement or instrument to which the Company is a party or by which
 it is bound. 

 
	
  

 	
  

 
	
  

 	
           (c)
 No Event of Default or event which with notice or lapse of time or both would
 become an Event of Default with respect to such Securities and any Coupons
 appertaining thereto shall have occurred and be continuing on the date of
 such deposit. 

 
	
  

 	
  

 
	
  

 	
           (d)
 In the case of an election under clause (2) of this Section 4.2, the Company
 shall have delivered to the Trustee an Opinion of Counsel stating that (i)
 the Company has received from the U.S. Internal Revenue Service a letter
 ruling, or there has been published by the U.S. Internal Revenue Service a
 Revenue Ruling, or since the date of execution of this Indenture, there has
 been a change in the applicable federal income tax law, in either case to the
 effect that, and based thereon such opinion shall confirm that, the Holders
 of such Outstanding Securities and any Coupons appertaining thereto will not
 recognize income, gain or loss for federal income tax purposes as a result of
 such defeasance and will be subject to federal income tax on the same
 amounts, in the same manner and at the same times as would have been the case
 if such defeasance had not occurred. 

 
	
  

 	
  

 
	
  

 	
           (e)
 In the case of an election under clause (3) of this Section 4.2, the Company
 shall have delivered to the Trustee an Opinion of Counsel to the effect that
 the Holders of such Outstanding Securities and any Coupons appertaining
 thereto will not recognize income, gain or loss for federal income tax
 purposes as a result of such covenant defeasance and will be subject to
 federal income tax on the same amounts, in the same manner and at the same
 times as would have been the case if such covenant defeasance had not
 occurred. 

 
	
  

 	
  

 
	
  

 	
           (f)
 The Company shall have delivered to the Trustee an Officers’ Certificate and
 an Opinion of Counsel, each stating that all conditions precedent to the
 defeasance or covenant defeasance under clause (2) or (3) of this Section 4.2
 (as the case may be) have been complied with. 

 
	
  

 	
  

 
	
  

 	
           (g)
 Notwithstanding any other provisions of this Section 4.2(4), such defeasance
 or covenant defeasance shall be effected in compliance with any additional or
 sub-

 

-32-

	
  

 	
  

 
	
  

 	
 stitute
 terms, conditions or limitations which may be imposed on the Company in
 connection therewith pursuant to Section 3.1.

 

	
  

 	
  

 
	
  

 	
           (5)
 Unless otherwise specified in or pursuant to this Indenture or any Security,
 if, after a deposit referred to in Section 4.2(4)(a) has been made, (a) the
 Holder of a Security in respect of which such deposit was made is entitled
 to, and does, elect pursuant to Section 3.1 or the terms of such Security to
 receive payment in a Currency other than that in which the deposit pursuant
 to Section 4.2(4)(a) has been made in respect of such Security, or (b) a
 Conversion Event occurs in respect of the Foreign Currency in which the
 deposit pursuant to Section 4.2(4)(a) has been made, the indebtedness represented
 by such Security and any Coupons appertaining thereto shall be deemed to have
 been, and will be, fully discharged and satisfied through the payment of the
 principal of (and premium, if any), and interest, if any, on, such Security
 as the same becomes due out of the proceeds yielded by converting (from time
 to time as specified below in the case of any such election) the amount or
 other property deposited in respect of such Security into the Currency in
 which such Security becomes payable as a result of such election or
 Conversion Event based on (x) in the case of payments made pursuant to clause
 (a) above, the applicable market exchange rate for such Currency in effect on
 the second Business Day prior to each payment date, or (y) with respect to a
 Conversion Event, the applicable market exchange rate for such Foreign
 Currency in effect (as nearly as feasible) at the time of the Conversion
 Event. 

 
	
  

 	
  

 
	
  

 	
 The Company
 shall pay and indemnify the Trustee (or other qualifying trustee,
 collectively for purposes of this Section 4.2(5) and Section 4.3, the
 “Trustee”) against any tax, fee or other charge, imposed on or assessed
 against the Government Obligations deposited pursuant to this Section 4.2 or
 the principal or interest received in respect thereof other than any such
 tax, fee or other charge which by law is for the account of the Holders of
 such Outstanding Securities and any Coupons appertaining thereto. 

 

          Anything
in this Section 4.2 to the contrary notwithstanding, the Trustee shall deliver
or pay to the Company from time to time upon Company Request, any money or
Government Obligations (or other property and any proceeds therefrom) held by
it as provided in clause (4) of this Section 4.2 which, in the opinion of a
nationally recognized firm of Independent Public Accountants expressed in a
written certification thereof delivered to the Trustee, are in excess of the
amount thereof which would then be required to be deposited to effect a
defeasance or covenant defeasance, as applicable, in accordance with this
Section 4.2. 

          Section
4.3. Application of Trust Money. Subject to the provisions of the last
paragraph of Section 10.3, all money and Government Obligations (or other
property as may be provided pursuant to Section 3.1) (including the proceeds
thereof) deposited with the Trustee pursuant to Section 4.1 or 4.2 in respect
of any Outstanding Securities of any series and any Coupons appertaining
thereto shall be held in trust and applied by the Trustee, in accordance with
the provisions of such Securities and any Coupons appertaining thereto and this
Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Holders of such Securities and any Coupons appertaining
thereto of all sums due and to become due thereon in respect of principal (and
premium, if any) and interest; but such money and Government Obligations need
not be segregated from other funds except to the extent required by law. 

          Section
4.4. Reinstatement. 

	
  

 	
  

 
	
  

 	
           (1)
 If the Trustee or Paying Agent is unable to apply any money or Government
 Obligations in accordance with Section 4.2(4) by reason of any legal
 proceeding or by reason of any order or judgment of any court or governmental
 authority enjoining, restraining or otherwise pro-

 

-33-

	
  

 	
  

 
	
  

 	
 hibiting
 such application, the Company’s obligations under this Indenture and the
 Securities of the applicable series issued hereunder shall be revived and
 reinstated as though no deposit has occurred pursuant to Section 4.2(4) until
 such time as the Trustee or Paying Agent is permitted to apply all such money
 or Government Obligations in accordance with and as contemplated by Section
 4.2(4). 

 
	
  

 	
  

 
	
  

 	
           (2)
 If the Company’s obligations under this Indenture and the Securities of the
 applicable series issued hereunder shall be revived and reinstated in
 accordance with this Section 4.4, the Company shall be permitted, at its
 discretion to withdraw all or a portion of the deposits made by the Company
 pursuant to Section 4.2(4). 

 
	
  

 	
  

 
	
  

 	
           (3)
 If the Company elects not to withdraw any of the deposits made by the Company
 pursuant to Section 4.2(4), if and when the Trustee or Paying Agent is later
 permitted to apply all such money or Government Obligations in accordance
 with and as contemplated by Section 4.2(4), the rights of the Company shall
 be subrogated to the rights of the Holders of the Securities of the
 applicable series to receive payments from the money or Government
 Obligations deposited by the Company pursuant to Section 4.2(4) and held by
 the Trustee or Paying Agent; provided that if the Company shall have made any
 payment of principal or interest on the Securities of any series because of
 the revival and reinstatement of its obligations, which payment is not
 sourced from any amounts deposited by the Company pursuant to Section 4.2(4)
 (such amount, in the aggregate, being referred to as the “Company Paid Amount”), the Company shall
 be permitted, at its discretion, to withdraw all or a portion of the deposits
 made by the Company pursuant to Section 4.2(4) up to the Company Paid Amount.
 

 

ARTICLE 5

REMEDIES

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

	
  

 	
  

 
	
  

 	
           (1)
 default in the payment of any interest on any Security of such series when
 such interest becomes due and payable, and continuance of such default for a
 period of 30 days; or 

 
	
  

 	
  

 
	
  

 	
           (2)
 default in the payment of the principal of or any premium on any Security of
 such series when such principal or premium becomes due and payable at their
 Maturity; or 

 
	
  

 	
  

 
	
  

 	
           (3)
 default in the deposit of any sinking fund or analogous payment when and as
 due by the terms of a Security of such series; or 

 
	
  

 	
  

 
	
  

 	
           (4)
 default in the performance, or breach, of any covenant or agreement of the
 Company in this Indenture with respect to any Security of that series (other
 than a covenant or agreement a default in whose performance or whose breach
 is elsewhere in this Section specifically dealt with and other than a
 covenant or agreement included in this Indenture solely for the benefit of
 another series of Securities), and continuance of such default or breach for
 a period of 60 days after there has been given, by registered or certified
 mail, to the Company by the Trustee or to the 

 

-34-

	
  

 	
  

 	
  

 
	
  

 	
 Company and
 the Trustee by the Holders of at least 25% in principal amount of the
 Outstanding Securities as a single class (unless otherwise provided with
 respect to Securities of any series pursuant to Section 3.1)of that 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 

 
	
  

 	
  

 
	
  

 	
           (5)
 a court of competent jurisdiction enters an order or decree under any
 applicable Bankruptcy Law that: 

 

	
  

 	
  

 
	
  

 	
           (a)
 is for relief against the Company in an involuntary case; or 

 
	
  

 	
  

 
	
  

 	
           (b)
 appoints a Custodian of the Company or for all or substantially all of the
 property of the Company; or 

 
	
  

 	
  

 
	
  

 	
           (c) orders
 the liquidation of the Company; and the order or decree remains unstayed and
 in effect for 60 consecutive days. The term “Bankruptcy Law” means title 11, U.S. Code or any similar
 federal or state law for the relief of debtors. The term “Custodian” means any receiver, trustee,
 assignee, liquidator or other similar official under any Bankruptcy Law. 

 

	
  

 	
  

 
	
  

 	
           (6)
 the commencement by the Company of a voluntary proceeding under any
 applicable bankruptcy, insolvency, reorganization (other than a
 reorganization under a foreign law that does not relate to insolvency) or
 other similar law or of a voluntary proceeding seeking to be adjudicated
 insolvent or the consent by the Company to the entry of a decree or order for
 relief in an involuntary proceeding under any applicable bankruptcy,
 insolvency, reorganization or other similar law or to the commencement of any
 insolvency proceedings against it, or the filing by the Company of a petition
 or answer or consent seeking reorganization, arrangement, adjustment or
 composition of the Company under any applicable law, or the consent by the
 Company to the filing of such petition or to the appointment of or taking
 possession by a custodian, receiver, liquidator, assignee, trustee or similar
 official of the Company or any substantial part of the property of the
 Company or the making by the Company of an assignment for the benefit of
 creditors, or the taking of corporate action by the Company in furtherance of
 any such action or the admitting in writing by the Company of its inability
 to pay its debts generally as they become due; or 

 
	
  

 	
  

 
	
  

 	
           (7)
 any other Event of Default provided in or pursuant to this Indenture with
 respect to Securities of such series. 

 

          Section
5.2. Acceleration of Maturity; Rescission and Annulment. If an Event of
Default with respect to Securities of any series at the time Outstanding (other
than an Event of Default specified in clause (5) or (6) of Section 5.1) occurs
and is continuing, then the Trustee or the Holders of not less than 25% in
principal amount of the Outstanding Securities of such series may declare the
principal of all the Securities of such series, or such lesser amount as may be
provided for in the Securities of such series, to be due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given
by the Holders), and upon any such declaration such principal or such lesser
amount shall become immediately due and payable. 

          If
an Event of Default specified in clause (5) or (6) of Section 5.1 occurs, all
unpaid principal of and accrued interest on the Outstanding Securities of that
series (or such lesser amount as may be provided for in the Securities of such
series) shall ipso facto become and be immediately due and payable without any
declaration or other act on the part of the Trustee or any Holder of any
Security of that series. 

-35-

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

	
  

 	
  

 
	
  

 	
 (1) the
 Company has paid or deposited with the Trustee a sum sufficient to pay: 

 

	
  

 	
  

 
	
  

 	
           (a)
 all overdue installments of any interest on all Securities of such series and
 any Coupon appertaining thereto, 

 
	
  

 	
  

 
	
  

 	
           (b)
 the principal of and any premium on any Securities of such series which have
 become due otherwise than by such declaration of acceleration and interest
 thereon at the rate or rates borne by or provided for in such Securities, 

 
	
  

 	
  

 
	
  

 	
           (c)
 to the extent that payment of such interest is lawful, interest upon overdue
 installments of any interest at the rate or rates borne by or provided for in
 such Securities, and 

 
	
  

 	
  

 
	
  

 	
           (d)
 all sums paid or advanced by the Trustee hereunder and the reasonable
 compensation, expenses, disbursements and advances of the Trustee, its agents
 and counsel and all other amounts due the Trustee under Section 6.7; and 

 

	
  

 	
  

 
	
  

 	
           (2)
 all Events of Default with respect to Securities of such series, other than
 the non-payment of the principal of, or any premium and interest, if any, on
 Securities of such series which shall have become due solely by such
 declaration of acceleration, shall have been cured or waived as provided in
 Section 5.13. 

 
	
  

 	
  

 
	
  

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

 

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

	
  

 	
  

 
	
  

 	
           (1)
 default is made in the payment of any installment of interest on any Security
 or any Coupon appertaining thereto when such interest shall have become due
 and payable and such default continues for a period of 30 days, or 

 
	
  

 	
  

 
	
  

 	
           (2)
 default is made in the payment of the principal of or any premium on any
 Security at its Maturity, 

 
	
  

 	
  

 
	
 the Company
 shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the
 Holders of such Securities and any Coupons appertaining thereto, the whole
 amount of money then due and payable with respect to such Securities and any
 Coupons appertaining thereto, with interest upon the overdue principal, any
 premium and, to the extent that payment of such interest shall be legally
 enforceable, upon any overdue installments of interest, and in addition
 thereto, such further amount of money as shall be sufficient to cover the
 costs and expenses of collection, including the reasonable compensation,
 expenses, disbursements and advances of the Trustee, its agents and counsel
 and all other amounts due to the Trustee under Section 6.7.

 
	
  

 
	
           If
 the Company shall fail to pay the money it is required to pay the Trustee pursuant
 to the preceding paragraph forthwith upon the demand of the Trustee, the
 Trustee, in its own name and as trustee of

 

-36-

an express
trust, may institute a judicial proceeding for the collection of the money so
due and unpaid, and may prosecute such proceeding to judgment or final decree,
and may enforce the same against the Company or any other obligor upon such
Securities and any Coupons appertaining thereto and collect the monies adjudged
or decreed to be payable in the manner provided by law out of the property of
the Company or any other obligor upon such Securities and any Coupons
appertaining thereto, wherever situated. Every recovery of judgment in any such
action or other proceeding subject to the payment of the expenses,
disbursements and compensation of the Trustee, its agents and attorneys, shall
be for the ratable benefit of the Holders of such Securities that shall be the
subject of such action or proceeding. 

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

          Section
5.4. Trustee May File Proofs of Claim. In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,
adjustment, composition or other judicial proceeding relative to the Company or
any other obligor upon the Securities of any series or the property of the
Company or such other obligor or their creditors, the Trustee (irrespective of
whether the principal of the Securities shall then be due and payable as
therein expressed or by declaration or otherwise and irrespective of whether
the Trustee shall have made any demand on the Company for the payment of any
overdue principal, premium or interest) shall be entitled and empowered, by
intervention in such proceeding or otherwise, 

	
  

 	
  

 
	
  

 	
           (1)
 to file and prove a claim for the whole amount, or such lesser amount as may
 be provided for in the Securities of any applicable series, of the principal
 and any premium and interest in respect of the Securities and any Coupons
 appertaining thereto and to file such other papers or documents as may be
 necessary or advisable in order to have the claims of the Trustee (including
 any claim for the reasonable compensation, expenses, disbursements and
 advances of the Trustee, its agents or counsel) and of the Holders of
 Securities or any Coupons appertaining thereto allowed in such judicial
 proceeding, and 

 
	
  

 	
  

 
	
  

 	
           (2)
 to collect and receive any monies or other property payable or deliverable on
 any such claims and to distribute the same; and any custodian, receiver,
 assignee, trustee, liquidator, sequestrator or other similar official in any
 such judicial proceeding is hereby authorized by each Holder of Securities or
 any Coupons to make such payments to the Trustee and, in the event that the
 Trustee shall consent to the making of such payments directly to the Holders
 of Securities or any Coupons, to pay to the Trustee any amount due to it for
 the reasonable compensation, expenses, disbursements and advances of the
 Trustee, its agents and counsel and any other amounts due the Trustee under
 Section 6.7. 

 

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

          Section
5.5. Trustee May Enforce Claims without Possession of Securities or Coupons.
All rights of action and claims under this Indenture or any of the Securities
or Coupons may be prosecuted and enforced by the Trustee without the possession
of any of the Securities or Coupons or the production 

-37-

thereof in any
proceeding relating thereto, and any such proceeding instituted by the Trustee
shall be brought in its own name as trustee of an express trust, and any
recovery or judgment, after provision for the payment of the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, shall be for the ratable benefit of each and every Holder of the
Securities or Coupons in respect of which such judgment has been recovered. 

          Section
5.6. Application of Money Collected. Any money collected by the Trustee
pursuant to this Article shall be applied in the following order, at the date
or dates fixed by the Trustee and, in case of the distribution of such money on
account of principal or any premium or interest, upon presentation of the
Securities or Coupons, or both, as the case may be, and the notation thereon of
the payment if only partially paid and upon surrender thereof if fully paid: 

	
  

 	
  

 
	
  

 	
           (1)
 to the payment of all amounts due the Trustee and any predecessor Trustee
 under Section 6.7; 

 
	
  

 	
  

 
	
  

 	
           (2)
 to the payment of the amounts then due and unpaid upon the Securities and any
 Coupons for principal and any premium and interest, ratably, without preference
 or priority of any kind, according to the aggregate amounts due and payable
 on such Securities and Coupons for principal and any premium and interest,
 respectively; 

 
	
  

 	
  

 
	
  

 	
           (3)
 the balance, if any, to the Company or as a court of competent jurisdiction
 shall direct in writing. 

 
	
  

 	
  

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

 
	
  

 	
  

 
	
  

 	
           (1)
 such Holder has previously given written notice to the Trustee of a
 continuing Event of Default with respect to the Securities of such series; 

 
	
  

 	
  

 
	
  

 	
           (2)
 the Holders of a majority in principal amount outstanding of the Outstanding
 Securities of such series shall have made written request to the Trustee to
 institute proceedings in respect of such Event of Default in its own name as
 Trustee hereunder; 

 
	
  

 	
  

 
	
  

 	
           (3)
 such Holder or Holders have offered to the Trustee such indemnity as is
 reasonably satisfactory to it against the costs, expenses and liabilities to
 be incurred in compliance with such request; 

 
	
  

 	
  

 
	
  

 	
           (4)
 the Trustee for 30 days after its receipt of such notice, request and offer
 of indemnity has failed to institute any such proceeding; and 

 
	
  

 	
  

 
	
  

 	
           (5)
 no direction inconsistent with such written request has been given to the
 Trustee during such 30-day period by the Holders of a majority in principal
 amount of the Outstanding Securities of such series; it being understood and
 intended that no one or more of such Holders shall have any right in any
 manner whatever by virtue of, or by availing of, any provision of this
 Indenture or any Security to affect, disturb or prejudice the rights of any
 other such Holders or Holders of Securities of any other series, or to obtain
 or to seek to obtain priority or preference over any other Holders or to
 enforce any right under this Indenture, except in the manner herein provided
 and for the equal and ratable benefit of all such Holders. 

 

-38-

          Section
5.8. Unconditional Right of Holders to Receive Principal and any Premium and
Interest. Notwithstanding any other provision in this Indenture, the Holder
of any Security or Coupon shall have the right, which is absolute and
unconditional, to receive payment of the principal of, any premium and (subject
to Sections 3.7 and 3.10) interest on such Security or payment of such Coupon,
as the case may be, on the respective Stated Maturity or Maturities therefor
specified in such Security or Coupon (or, in the case of redemption, on the
Redemption Date or, in the case of repayment at the option of such Holder if provided
in or pursuant to this Indenture, on the date such repayment is due) and to
institute suit for the enforcement of any such payment, and such right shall
not be impaired without the consent of such Holder. 

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

          Section
5.10. Rights and Remedies Cumulative. Except as otherwise provided with
respect to the replacement or payment of mutilated, destroyed, lost or stolen
Securities or Coupons in the last paragraph of Section 3.6, no right or remedy
herein conferred upon or reserved to the Trustee or to each and every Holder of
a Security or a Coupon is intended to be exclusive of any other right or
remedy, and every right and remedy, to the extent permitted by law, shall be
cumulative and in addition to every other right and remedy given hereunder or
now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right or remedy hereunder, or otherwise, shall not, to the
extent permitted by law, prevent the concurrent assertion or employment of any
other appropriate right or remedy. 

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

          Section
5.12. Control by Holders of Securities. The Holders of a majority in
principal amount of the Outstanding Securities of any series shall have the
right to direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee or exercising any trust or power conferred on
the Trustee with respect to the Securities of such series and any Coupons
appertaining thereto, provided that 

	
  

 	
  

 
	
  

 	
           (1)
 such direction shall not be in conflict with any rule of law or with this
 Indenture or with the Securities of such series, 

 
	
  

 	
  

 
	
  

 	
           (2)
 the Trustee may take any other action deemed proper by the Trustee which is
 not inconsistent with such direction, and 

 
	
  

 	
  

 
	
  

 	
           (3)
 such direction is not unduly prejudicial to the rights of the other Holders
 of Securities of such series not joining in such action. 

 

          Section
5.13. Waiver of Past Defaults. The Holders of not less than a majority
in principal amount of the Outstanding Securities of any series on behalf of
the Holders of all the Securities of such 

-39-

series and any
Coupons appertaining thereto may waive any past default hereunder with respect
to such series and its consequences, except a default 

	
  

 	
  

 
	
  

 	
           (1)
 in the payment of the principal of, any premium or interest on, any Security
 of such series or any Coupons appertaining thereto, or 

 
	
  

 	
  

 
	
  

 	
           (2)
 in respect of a covenant or provision hereof which under Article 9 cannot be
 modified or amended without the consent of the Holder of each Outstanding
 Security of such series affected. 

 

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

          Section
5.14. Waiver of Usury, Stay or Extension Laws. The Company covenants
that (to the extent that it may lawfully do so) it will not at any time insist
upon, or plead, or in any manner whatsoever claim or take the benefit or
advantage of, any usury, stay or extension law wherever enacted, now or at any
time hereafter in force, which may affect the covenants or the performance of
this Indenture; and the Company expressly waives (to the extent that it may
lawfully do so) all benefit or advantage of any such law and covenants that it
will not hinder, delay or impede the execution of any power herein granted to
the Trustee, but will suffer and permit the execution of every such power as
though no such law had been enacted. 

          Section
5.15. Undertaking for Costs. All parties to this Indenture agree, and
each Holder of any Security by his acceptance thereof shall be deemed to have
agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against
the Trustee for any action taken or omitted by it as Trustee, the filing by any
party litigant in such suit of any undertaking to pay the costs of such suit,
and that such court may in its discretion assess reasonable costs, including
reasonable attorneys’ fees and expenses, 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 5.15 shall not
apply to any suit instituted by the Trustee, to any suit instituted by any
Holder, or group of Holders, holding in the aggregate more than 10% in
principal amount of Outstanding Securities of any series, or to any suit
instituted by any Holder for the enforcement of the payment of the principal of
(or premium, if any) or interest, if any, on any Security on or after the
respective Stated Maturities expressed in such Security (or, in the case of redemption,
on or after the Redemption Date, and, in the case of repayment, on or after the
date for repayment) or for the enforcement of the right, if any, to convert or
exchange any Security into other securities in accordance with its terms. 

ARTICLE 6

THE TRUSTEE

          Section
6.1. Certain Duties and Responsibilities.

	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
           (a)
 the Trustee undertakes to perform such duties and only such duties as are
 specifically set forth in this Indenture, and no implied covenants or
 obligations shall be read into this Indenture against the Trustee; and 

 

-40-

	
  

 	
  

 
	
  

 	
           (b)
 in the absence of bad faith on its part, the Trustee may conclusively rely,
 as to the truth of the statements and the correctness of the opinions
 expressed therein, upon certificates or opinions furnished to the Trustee and
 conforming to the requirements of this Indenture. 

 

          (2)
In case an Event of Default has occurred and is continuing, the Trustee shall
exercise such of the rights and powers vested in it by this Indenture, and use
the same degree of care and skill in their exercise, as a prudent person would
exercise or use under the circumstances in the conduct of his or her own
affairs. 

          (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, except that: 

	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
           (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 of a majority in principal amount of the Outstanding Securities of
 any series, relating to the time, method and place of conducting any
 proceeding for any remedy available to the Trustee, or exercising any trust
 or power conferred upon the Trustee, under this Indenture with respect to the
 Securities of such series. 

 
	
  

 	
  

 
	
           (4)
 Whether or not therein expressly so provided, every provision of this
 Indenture relating to the conduct or affecting the liability of or affording
 protection to the Trustee shall be subject to the provisions of this Section.
 

 
	
  

 	
  

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

 
	
  

 	
  

 
	
  

 	
           (1)
 The Trustee may conclusively rely and shall be protected in acting or
 refraining from acting upon any resolution, certificate, statement,
 instrument, opinion, report, notice, request, direction, consent, order,
 bond, debenture, note, coupon or other paper or document believed by it to be
 genuine and to have been signed or presented by the proper party or parties. 

 
	
  

 	
  

 
	
  

 	
           (2)
 Any request or direction of the Company mentioned herein shall be
 sufficiently evidenced by a Company Request or Company Order (other than
 delivery of any Security, together with any Coupons appertaining thereto, to
 the Trustee for authentication and delivery pursuant to Section 3.3 which
 shall be sufficiently evidenced as provided therein) and any resolution of
 the Board of Directors may be sufficiently evidenced by a Board Resolution. 

 
	
  

 	
  

 
	
  

 	
           (3)
 Whenever in the administration of this Indenture the Trustee shall deem it
 desirable that a matter be proved or established prior to taking, suffering
 or omitting any action hereunder, the Trustee (unless other evidence shall be
 herein specifically prescribed) may, in the absence of bad faith on its part,
 rely upon a Board Resolution, an Opinion of Counsel or an Officers’
 Certificate. 

 
	
  

 	
  

 
	
  

 	
           (4)
 The Trustee may consult with counsel of its selection and the advice of such
 counsel or any Opinion of Counsel shall be full and complete authorization
 and protection in re-

 

-41-

	
  

 	
  

 
	
  

 	
 spect of any
 action taken, suffered or omitted by it hereunder in good faith and in
 reliance thereon. 

 
	
  

 	
  

 
	
  

 	
           (5)
 The Trustee shall be under no obligation to exercise any of the rights or
 powers vested in it by this Indenture at the request or direction of any of
 the Holders of Securities of any series or any related Coupons pursuant to
 this Indenture, unless such Holders shall have offered to the Trustee
 security or indemnity satisfactory to the Trustee against the costs, expenses
 and liabilities which might be incurred by it in compliance with such request
 or direction. 

 
	
  

 	
  

 
	
  

 	
           (6)
 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, direction, consent, order, bond, debenture,
 note, coupon or other paper or document, but the Trustee, in its discretion,
 may make such further inquiry or investigation into such facts or matters as
 it may see fit, and, if the Trustee shall determine to make such further
 inquiry or investigation, it shall be entitled to examine the books, records
 and premises of the Company, personally or by agent or attorney. 

 
	
  

 	
  

 
	
  

 	
           (7)
 The Trustee may execute any of the trusts or powers hereunder or perform any
 duties hereunder either directly or by or through agents or attorneys and the
 Trustee shall not be responsible for any misconduct or negligence on the part
 of any agent or attorney appointed with due care by it hereunder. 

 
	
  

 	
  

 
	
  

 	
           (8)
 The Trustee shall not be liable for any action taken, suffered or omitted by
 it in good faith and believed by it to be authorized or within the discretion
 or rights or powers conferred upon it by this Indenture. 

 
	
  

 	
  

 
	
  

 	
           (9)
 The Trustee shall not be charged with knowledge of any default or Event of
 Default with respect to the Securities of any series unless either (1) such
 default or Event of Default is actually known by a Responsible Officer of the
 Trustee or (2) written notice of such default or Event of Default which is in
 fact such a default is received by the Trustee at the Corporate Trust Office
 of the Trustee and such notice references the Securities and this Indenture. 

 
	
  

 	
  

 
	
  

 	
           (10)
 The Trustee shall not be required to expend or risk its own funds or
 otherwise incur any financial liability in the performance of any of its
 duties hereunder, or in the exercise of any of its rights or powers, if it
 shall have reasonable grounds for believing that repayment of such funds or
 adequate indemnity against such risk or liability is not reasonably assured
 to it. 

 
	
  

 	
  

 
	
  

 	
           (11)
 In no event shall the Trustee be responsible or liable for special, indirect,
 or consequential loss or damage of any kind whatsoever (including, but not
 limited to, loss of profit) irrespective of whether the Trustee has been
 advised of the likelihood of such loss or damage and regardless of the form
 of action. 

 
	
  

 	
  

 
	
  

 	
           (12)
 The rights, privileges, protections, immunities and benefits given to the
 Trustee, including, without limitation, its right to be indemnified, are
 extended to, and shall be enforceable by, the Trustee in each of its
 capacities hereunder (other than in its capacity as a Holder), and each
 agent, custodian and other Person employed by it to act hereunder. 

 
	
  

 	
  

 
	
  

 	
           (13)
 The Trustee may request that the Company deliver a certificate setting forth
 the names of individuals and/or titles of officers authorized at such time to
 take specified actions pursuant to this Indenture. 

 

-42-

          Section
6.3. Notice of Defaults. Within 90 days after the occurrence of any
default hereunder with respect to the Securities of any series, the Trustee
shall transmit by mail to all Holders of Securities of such series entitled to
receive reports pursuant to Section 7.3(3), notice of such default hereunder
actually known to a Responsible Officer of the Trustee, unless such default
shall have been cured or waived; provided, however, that, except
in the case of a default in the payment of the principal of (or premium, if
any), or interest, if any, on, or any sinking fund or purchase fund installment
with respect to, any Security of such series, the Trustee shall be protected in
withholding such notice if and so long as the board of directors, the executive
committee or a trust committee of directors and/or Responsible Officers of the
Trustee in good faith determine that the withholding of such notice is in the
best interest of the Holders of Securities and Coupons of such series; and
provided, further, that in the case of any default of the character specified
in Section 5.1(4) with respect to Securities of such series, no such notice to
Holders shall be given until such default shall have become an Event of Default
with respect to Securities of such series. For the purpose of Sections 6.1 and
6.2, the term “default” means any
event that is, or after notice or lapse of time or both would become, an Event
of Default with respect to Securities of such series. 

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

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

          Section
6.6. Money Held in Trust. Except as provided in Section 4.3 and Section
10.3, money held by the Trustee in trust hereunder need not be segregated from
other funds except to the extent required by law and shall be held uninvested.
The Trustee shall be under no liability for interest on any money received by
it hereunder except as otherwise agreed to in writing with the Company. 

          Section
6.7. Compensation and Reimbursement. The Company agrees: 

	
  

 	
  

 
	
  

 	
           (1)
 to pay to the Trustee from time to time such compensation for all services
 rendered by it hereunder as the Company and the Trustee shall from time to
 time agree in writing (which compensation shall not be limited by any
 provision of law in regard to the compensation of a trustee of an express
 trust). 

 
	
  

 	
  

 
	
  

 	
           (2)
 except as otherwise expressly provided herein, to reimburse the Trustee upon
 its request for all reasonable expenses, disbursements and advances incurred
 or made by the Trustee in accordance with any provision of this Indenture
 (including reasonable compensation and the expenses, advances and
 disbursements of its agents and counsel), except any such expense,
 disbursement or advance as shall be determined to have been caused by its own
 negligence or willful misconduct. 

 

-43-

	
  

 	
  

 
	
  

 	
           (3)
 to indemnify each of the Trustee and any predecessor Trustee for, and to hold
 it harmless against, any loss, claim, damage, liability or expense, including
 taxes, incurred without negligence or willful misconduct on its own part,
 arising out of or in connection with the acceptance or administration of the
 trust or trusts hereunder, including the costs and expenses of defending
 itself against any claim or liability in connection with the exercise or
 performance of any of its powers or duties hereunder, except to the extent
 that any such loss, liability, claim, damage or expense shall be determined
 to have been caused by the Trustee’s own negligence or willful misconduct. 

 

          As
security for the performance of the obligations of the Company under this
Section, the Trustee for the Securities of any series shall have a claim prior
to the Securities of such series upon all property and funds held or collected
by the Trustee as such, except funds held in trust for the payment of principal
of (or premium, if any) or interest, if any, on Securities or any Coupons of
such series. 

          To
the extent permitted by law, any compensation or expense incurred by the
Trustee in connection with a default specified in or pursuant to Section 5.1 is
intended to constitute an expense of administration under any then applicable
bankruptcy or insolvency law. “Trustee” for purposes of this Section 6.7 shall
include any predecessor Trustee but the negligence or bad faith of any Trustee
shall not affect the rights of any other Trustee under this Section 6.7. 

          The
provisions of this Section 6.7 shall survive the satisfaction, termination or
discharge of this Indenture or the earlier resignation or removal of the
Trustee and shall apply with equal force and effect to the Trustee in its
capacity as Authenticating Agent, Paying Agent or Security Registrar. 

          Section
6.8. Corporate Trustee Required; Eligibility. There shall at all times
be a Trustee hereunder that is a Corporation organized and doing business under
the laws of the United States of America, any state thereof or the District of
Columbia, that is eligible under Section 310(a)(1) of the Trust Indenture Act
to act as trustee under an indenture qualified under the Trust Indenture Act
and that has a combined capital and surplus (computed in accordance with
Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000, and that
is subject to supervision or examination by Federal or state authority. If at
any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with
the effect hereinafter specified in this Article. Also, if the Trustee has or
shall acquire a conflicting interest within the meaning of Section 310(b) of
the Trust Indenture Act, the Trustee shall either eliminate such interest or
resign, to the extent and in the manner provided by, and subject to the
provisions of, the Trust Indenture Act and this Indenture. If Section 310(b) of
the Trust Indenture Act is amended any time after the date of this Indenture to
change the circumstances under which a Trustee shall be deemed to have a
conflicting interest with respect to the Securities of any series or to change
any of the definitions in connection therewith, this Section 6.8 shall be
automatically amended to incorporate such changes. 

          Section
6.9. Resignation and Removal; Appointment of Successor. 

	
  

 	
  

 
	
  

 	
           (1)
 No resignation or removal of the Trustee and no appointment of a successor
 Trustee pursuant to this Article shall become effective until the acceptance
 of appointment by the successor Trustee pursuant to Section 6.10. 

 
	
  

 	
  

 
	
  

 	
           (2)
 The Trustee may resign at any time with respect to the Securities of one or
 more series by giving written notice thereof to the Company. If the
 instrument of acceptance by a successor Trustee required by Section 6.10
 shall not have been delivered to the Trustee within 30 days after the giving
 of such notice of resignation, the resigning Trustee may petition at the ex-

 

-44-

	
  

 	
  

 
	
  

 	
 pense of the
 Company any court of competent jurisdiction for the appointment of a
 successor Trustee with respect to such series. 

 
	
  

 	
  

 
	
  

 	
           (3)
 The Trustee may be removed at any time with respect to the Securities of any
 series by Act of the Holders of a majority in principal amount of the
 Outstanding Securities of such series, delivered to the Trustee and the
 Company. If the instrument of acceptance by a successor Trustee required by
 Section 6.10 shall not have been delivered to the Trustee within 30 days
 after the Act of the Holders removing the Trustee, the removed Trustee may
 petition at the expense of the Company any court of competent jurisdiction
 for the appointment of a successor Trustee with respect to such series.

 
	
  

 	
  

 
	
  

 	
           (4)
 If at any time:

 

	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
           (b)
 the Trustee shall cease to be eligible under Section 6.8 and shall fail to
 resign after written request therefor by the Company or any such Holder, or 

 
	
  

 	
  

 
	
  

 	
           (c)
 the Trustee shall become incapable of acting or shall be adjudged a bankrupt
 or insolvent or a receiver of the Trustee or of its property shall be
 appointed or any public officer shall take charge or control of the Trustee
 or of its property or affairs for the purpose of rehabilitation, conservation
 or liquidation, then, in any such case, (i) the Company, by or pursuant to a
 Board Resolution, may remove the Trustee with respect to all Securities or
 the Securities of such series, or subject to Section 315(e) of the Trust
 Indenture Act, any Holder of a Security who has been a bona fide Holder of a
 Security of such series for at least six months may, on behalf of himself and
 all others similarly situated, petition any court of competent jurisdiction
 for the removal of the Trustee with respect to all Securities of such series
 and the appointment of a successor Trustee or Trustees. 

 

	
  

 	
  

 
	
  

 	
           (5)
 If the Trustee shall resign, be removed or become incapable of acting, or if
 a vacancy shall occur in the office of Trustee for any cause, with respect to
 the Securities of one or more series, the Company, by or pursuant to a Board
 Resolution, shall promptly appoint a successor Trustee or Trustees with
 respect to the Securities of such series (it being understood that any such
 successor Trustee may be appointed with respect to the Securities of one or
 more or all of such series and that at any time there shall be only one
 Trustee with respect to the Securities of any particular series) and shall
 comply with the applicable requirements of Section 6.10. If, within one year
 after such resignation, removal or incapacity, or the occurrence of such
 vacancy, a successor Trustee with respect to the Securities of any series
 shall be appointed by Act of the Holders of a majority in principal amount of
 the Outstanding Securities of such series delivered to the Company and the
 retiring Trustee, the successor Trustee so appointed shall, forthwith upon
 its acceptance of such appointment in accordance with the applicable
 requirements of Section 6.10, become the successor Trustee with respect to
 the Securities of such series and to that extent supersede the successor
 Trustee appointed by the Company. If no successor Trustee with respect to the
 Securities of any series shall have been so appointed within three months
 after such appointment might have been made hereunder by the Company or the
 Holders of Securities and accepted appointment in the manner required by
 Section 6.10, any Holder of a Security who has been a bona fide Holder of a
 Security of such series for at least six months may, on behalf of himself and
 

 

-45-

	
  

 	
  

 
	
  

 	
 all others
 similarly situated, petition any court of competent jurisdiction for the
 appointment of a successor Trustee with respect to the Securities of such
 series. 

 
	
  

 	
  

 
	
  

 	
           (6)
 The Company shall give notice of each resignation and each removal of the
 Trustee with respect to the Securities of any series and each appointment of
 a successor Trustee with respect to the Securities of any series by mailing
 written notice of such event by first-class mail, postage prepaid, to the
 Holders of Registered Securities, if any, of such series as their names and
 addresses appear in the Security Register and, if Securities of such series
 are issued as Bearer Securities, by publishing notice of such event once in
 an Authorized Newspaper in each Place of Payment located outside the United
 States. Each notice shall include the name of the successor Trustee with
 respect to the Securities of such series and the address of its Corporate Trust
 Office. 

 
	
  

 	
  

 
	
  

 	
           (7)
 In no event shall any retiring Trustee be liable for the acts or omissions of
 any successor Trustee hereunder. 

 
	
  

 	
  

 
	
  

 	
 Section
 6.10. Acceptance of Appointment by Successor. 

 
	
  

 	
  

 
	
  

 	
           (1)
 Upon the appointment hereunder of any successor Trustee with respect to all
 Securities, such successor Trustee so appointed shall execute, acknowledge
 and deliver to the Company and the retiring Trustee an instrument accepting
 such appointment, and thereupon the resignation or removal of the retiring
 Trustee shall become effective and such successor Trustee, without any
 further act, deed or conveyance, shall become vested with all the rights,
 powers, trusts and duties hereunder of the retiring Trustee; but, on the
 request of the Company or such successor Trustee or the Holders of at least
 10% in principal amount of the applicable series of Securities then
 Outstanding, such retiring Trustee, upon payment of its charges, shall
 execute and deliver an instrument transferring to such successor Trustee all
 the rights, powers and trusts of the retiring Trustee and, subject to Section
 10.3, shall duly assign, transfer and deliver to such successor Trustee all
 property and money held by such retiring Trustee hereunder, subject
 nevertheless to its claim, if any, provided for in Section 6.7. 

 
	
  

 	
  

 
	
  

 	
           (2)
 Upon the appointment hereunder of any successor Trustee with respect to the
 Securities of one or more (but not all) series, the Company, the retiring
 Trustee and such successor Trustee shall execute and deliver an indenture
 supplemental hereto wherein each successor Trustee shall accept such
 appointment and which (1) shall contain such provisions as shall be necessary
 or desirable to transfer and confirm to, and to vest in, such successor
 Trustee all the rights, powers, trusts and duties of the retiring Trustee
 with respect to the Securities of that or those series to which the
 appointment of such successor Trustee relates, (2) if the retiring Trustee is
 not retiring with respect to all Securities, shall contain such provisions as
 shall be deemed necessary or desirable to confirm that all the rights,
 powers, trusts and duties of the retiring Trustee with respect to the
 Securities of that or those series as to which the retiring Trustee is not
 retiring shall continue to be vested in the retiring Trustee, and (3) shall
 add to or change any of the provisions of this Indenture as shall be
 necessary to provide for or facilitate the administration of the trusts
 hereunder by more than one Trustee, it being understood that nothing herein
 or in such supplemental indenture shall constitute such Trustees co-trustees
 of the same trust, that each such Trustee shall be trustee of a trust or
 trusts hereunder separate and apart from any trust or trusts hereunder administered
 by any other such Trustee and that no Trustee shall be responsible for any
 notice given to, or received by, or any act or failure to act on the part of
 any other Trustee hereunder, and, upon the execution and delivery of such
 supplemental indenture, the resignation or removal of the retiring Trustee
 shall become effective to the extent provided therein, such retiring Trustee
 shall have no further responsibility for the exercise of rights and powers or
 for the performance of the duties and obligations vested in the Trustee under
 this Indenture with respect to 

 

-46-

	
  

 	
  

 
	
  

 	
 the Securities of that or those series to which the appointment of such successor
 Trustee relates other than as hereinafter expressly set forth, and such
 successor Trustee, without any further act, deed or conveyance, shall become
 vested with all the rights, powers, trusts and duties of the retiring Trustee
 with respect to the Securities of that or those series to which the
 appointment of such successor Trustee relates; but, on request of the Company
 or such successor Trustee, such retiring Trustee, upon payment of its charges
 with respect to the Securities of that or those series to which the
 appointment of such successor Trustee relates and subject to Section 10.3
 shall duly assign, transfer and deliver to such successor Trustee, to the
 extent contemplated by such supplemental indenture, the property and money
 held by such retiring Trustee hereunder with respect to the Securities of
 that or those series to which the appointment of such successor Trustee
 relates, subject to its claim, if any, provided for in Section 6.7.

 
	
  

 	
           (3)
 Upon request of any Person appointed hereunder as a successor Trustee, the
 Company shall execute any and all instruments for more fully and certainly
 vesting in and confirming to such successor Trustee all such rights, powers
 and trusts referred to in paragraph (1) or (2) of this Section, as the case
 may be. 

 
	
  

 	
  

 
	
  

 	
           (4)
 No Person shall accept its appointment hereunder as a successor Trustee
 unless at the time of such acceptance such successor Person shall be
 qualified and eligible under this Article.

 

          Section
6.11. Merger, Conversion, Consolidation or Succession to Business. Any
Corporation into which, the Trustee may be merged or converted or with which it
may be consolidated, or any Corporation resulting from any merger, conversion
or consolidation to which the Trustee shall be a party, shall be the successor
of the Trustee hereunder, without the execution or filing of any paper or any
further act on the part of any of the parties hereto, provided, that such
Corporation shall be otherwise qualified and eligible under this Section. In
case any Securities shall have been authenticated but not delivered by the
Trustee then in office, any successor by merger, conversion or consolidation to
such authenticating Trustee may adopt such authentication and deliver the
Securities so authenticated with the same effect as if such successor Trustee
had itself authenticated such Securities. 

          Section
6.12. Appointment of Authenticating Agent. The Trustee may appoint one
or more Authenticating Agents acceptable to the Company with respect to one or
more series of Securities, and which shall be authorized to act on behalf of
the Trustee to authenticate Securities of that or those series issued upon
original issue, exchange, registration of transfer, partial redemption or
partial repayment or pursuant to Section 3.6, and Securities so authenticated
shall be entitled to the benefits of this Indenture and shall be valid and
obligatory for all purposes as if authenticated by the Trustee hereunder.
Wherever reference is made in this Indenture to the authentication and delivery
of Securities by the Trustee or the Trustee’s certificate of authentication,
such reference shall be deemed to include authentication and delivery on behalf
of the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. 

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

-47-

          Any
Corporation into which an Authenticating Agent may be merged or converted or
with which it may be consolidated, or any Corporation resulting from any
merger, conversion or consolidation to which such Authenticating Agent shall be
a party, or any Corporation succeeding to all or substantially all of the
corporate agency or corporate trust business of an Authenticating Agent, shall
be the successor of such Authenticating Agent hereunder, provided such
Corporation shall be otherwise eligible under this Section, without the
execution or filing of any paper or any further act on the part of the Trustee
or the Authenticating Agent. 

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

          The
Company agrees to pay each Authenticating Agent from time to time reasonable
compensation for its services under this Section. If the Trustee makes such
payments, it shall be entitled to be reimbursed for such payments, subject to
the provisions of Section 6.7. 

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

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

	
  

 	
  

 	
  

 	
  

 
	
  

 	
 DEUTSCHE
 BANK TRUST COMPANY AMERICAS,

 
	
  

 	
    as
 Trustee

 
	
  

 	
  

 
	
 Date:

 	
  

 	
 By:

 	
  

 
	
  

 	

 

 	
  

 	

 

 
	
  

 	
           as
 Authenticating Agent

 

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

-48-

          Section
6.13. Appointment of Attorney-in-Fact. The Trustee for each series of
Securities is hereby appointed, and each and every Holder of Securities of such
series, by receiving and holding the same, shall be conclusively deemed to have
appointed such Trustee, the true and lawful attorney-in-fact of such Holder,
with authority to make or file (whether or not the Company shall be in default
in respect of the payment of the principal of, or premium or interest, if any,
on any of the Securities of such series), in its own name as trustee of an
express trust or otherwise as it shall deem advisable, in any receivership,
insolvency, liquidation, bankruptcy, reorganization, or other judicial
proceedings relative to the Company or any other obligor upon such Securities
or to their respective creditors or property, any and all claims, proofs of
claim, proofs of debt, petitions, consents, other papers and documents, and
amendments of any thereof, as may be necessary or advisable in order to have
the claims of the Trustee and of the Holders of such Securities allowed in any
such proceeding and to collect and receive any moneys or other property payable
or deliverable on any such claim, and to execute and deliver any and all other
papers and documents and to do and perform any and all other acts and things,
as it may deem necessary or advisable in order to enforce in any such
proceedings any of the claims of such Trustee and of any of such Holders in
respect of any of the Securities of such series; and any receiver, assignee,
custodian, trustee, or debtor in any such proceedings is hereby authorized, and
each and every Holder of the Securities of such series, by receiving and
holding the same, shall be conclusively deemed to have authorized any such
receiver, assignee, custodian, trustee, or debtor, to make any such payment or
delivery to or on the order of such Trustee, and, in the event that such
Trustee shall consent to the making of such payments or deliveries directly to
the Holders of the Securities of such series, to pay to such Trustee any amount
due it for compensation and expenses, including counsel fees and expenses,
incurred by it down to the date of such payment or delivery; provided, however,
that nothing herein contained shall be deemed to authorize or empower such Trustee
to consent to or accept or adopt, on behalf of any Holder of Securities of such
series, any plan of reorganization or readjustment of the Company affecting the
Securities of such series or the rights of any Holder thereof, or to authorize
or empower such Trustee to vote in respect of the claim of any Holder of any
Securities of such series in any such proceedings. 

ARTICLE 7

HOLDERS LISTS AND REPORTS BY TRUSTEE AND
COMPANY

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

	
  

 	
  

 
	
  

 	
           (1)
 semi-annually with respect to Securities of each series not later than May 1
 and November 1 of the year or upon such other dates as are set forth in or
 pursuant to the Board Resolution or indenture supplemental hereto authorizing
 such series, a list, in each case in such form as the Trustee may reasonably
 require, of the names and addresses of Holders as of the applicable date, and
 

 
	
  

 	
  

 
	
  

 	
           (2)
 at such other times as the Trustee may request in writing, within 30 days
 after the receipt by the Company of any such request, a list of similar form
 and content as of a date not more than 15 days prior to the time such list is
 furnished, 

 

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

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

-49-

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

          Section
7.3. Reports by Trustee. 

	
  

 	
  

 
	
  

 	
           (1)
 Within 60 days after September 15 of each year commencing with the first
 September 15 following the first issuance of Securities pursuant to Section
 3.1, if required by Section 313(a) of the Trust Indenture Act, the Trustee
 shall transmit, pursuant to Section 313(c) of the Trust Indenture Act, a
 brief report dated as of such September 15 with respect to any of the events
 specified in said Section 313(a) which may have occurred since the later of
 the immediately preceding September 15 and the date of this Indenture. 

 
	
  

 	
  

 
	
  

 	
           (2)
 The Trustee shall transmit the reports required by Section 313(a) of the
 Trust Indenture Act at the times specified therein. 

 
	
  

 	
  

 
	
  

 	
           (3)
 Reports pursuant to this Section shall be transmitted in the manner and to
 the Persons required by Sections 313(c) and 313(d) of the Trust Indenture
 Act. 

 
	
  

 	
  

 
	
           Section
 7.4. Reports by Company. The Company, pursuant to Section 314(a) of
 the Trust Indenture Act, shall: 

 
	
  

 	
  

 
	
  

 	
           (1)
 file with the Trustee, within 30 days after the Company is required to file
 the same with the Commission, copies of the annual reports and of the
 information, documents and other reports (or copies of such portions of any
 of the foregoing as the Commission may from time to time by rules and
 regulations prescribe) which the Company may be required to file with the
 Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange
 Act of 1934, as amended; or, if the Company is not required to file
 information, documents or reports pursuant to either of said Sections, then
 it shall file with the Trustee and the Commission, in accordance with rules
 and regulations prescribed from time to time by the Commission, such of the
 supplementary and periodic information, documents and reports which may be
 required pursuant to Section 13 of the Securities Exchange Act of 1934, as
 amended, in respect of a security listed and registered on a national
 securities exchange as may be prescribed from time to time in such rules and
 regulations; 

 
	
  

 	
  

 
	
  

 	
           (2)
 file with the Trustee and the Commission, in accordance with rules and
 regulations prescribed from time to time by the Commission, such additional
 information, documents and reports with respect to compliance by the Company
 with the conditions and covenants of this Indenture as may be required from
 time to time by such rules and regulations; and 

 
	
  

 	
  

 
	
  

 	
           (3)
 transmit to the Holders of Securities within 30 days after the filing thereof
 with the Trustee, in the manner and to the extent provided in Section 313(c)
 of the Trust Indenture Act, such summaries of any information, documents and
 reports required to be filed by the Company, pursuant to paragraphs (1) and
 (2) of this Section as may be required by rules and regulations prescribed
 from time to time by the Commission. 

 

-50-

          Delivery
of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute
constructive notice of any information contained therein or determinable from
information contained therein, including the Company’s compliance with any of
its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates). 

ARTICLE 8

CONSOLIDATION, AMALGAMATIONS, MERGER AND
SALES

          Section
8.1. Company May Consolidate, Etc., Only on Certain Terms. The Company
shall not consolidate or amalgamate with or merge into any other Person
(whether or not affiliated with the Company), or convey, transfer or lease its
properties and assets as an entirety or substantially as an entirety to any
other Person (whether or not affiliated with the Company), and the Company
shall not permit any other Person (whether or not affiliated with the Company)
to consolidate or amalgamate with or merge into the Company or convey, transfer
or lease its properties and assets as an entirety or substantially as an
entirety to the Company; unless: 

	
  

 	
  

 
	
  

 	
           (1)
 either the Company shall be the continuing corporation, or the Person (if
 other than the Company) formed by such consolidation or into which the
 Company is merged or the Person which acquires by conveyance or transfer the
 properties and assets of the Company substantially as an entirety shall
 expressly assume, by an indenture supplemental hereto, executed and delivered
 to the Trustee, in form reasonably satisfactory to the Trustee, the due and
 punctual payment of the principal of (and premium, if any) and interest, if
 any, on all the Securities and the performance of every covenant of this
 Indenture on the part of the Company to be performed or observed; 

 
	
  

 	
  

 
	
  

 	
           (2)
 immediately after giving effect to such transaction, no default or Event of
 Default shall have occurred and be continuing; and 

 
	
  

 	
  

 
	
  

 	
           (3)
 the Company and the successor Person have delivered to the Trustee an
 Officers’ Certificate and an Opinion of Counsel each stating that such
 consolidation, merger, conveyance or transfer and such supplemental indenture
 comply with this Article and that all conditions precedent herein provided
 for relating to such transaction have been complied with. 

 

          For
the purpose of this Section 8.1, the term “default” means any event that is, or
after notice or lapse of time or both would become, an Event of Default with
respect to Securities of such series. 

          Section
8.2. Successor Person Substituted for Company. Upon any consolidation or
amalgamation by the Company with or merger of the Company into any other Person
or any conveyance, transfer or lease of the properties and assets of the
Company substantially as an entirety to any Person in accordance with Section
8.1, the successor Person formed by such consolidation or amalgamation or into
which the Company 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 Company under this Indenture with the same effect as if such
successor Person had been named as the Company herein; and thereafter, except
in the case of a lease, the predecessor Person shall be released from all
obligations and covenants under this Indenture, the Securities and the Coupons.

-51-

ARTICLE 9

SUPPLEMENTAL INDENTURES

          Section
9.1. Supplemental Indentures without Consent of Holders. Except as
otherwise contemplated by Section 3.1 with respect to Securities of any Series,
without the consent of any Holders of Securities or Coupons, the Company (when
authorized by or pursuant to a Board Resolution) and the Trustee, at any time
and from time to time, may enter into one or more indentures supplemental
hereto, for any of the following purposes: 

	
  

 	
  

 
	
  

 	
           (1)
 to evidence the succession of another Person to the Company, and the
 assumption by any such successor of the covenants of the Company contained
 herein and in the Securities; or 

 
	
  

 	
  

 
	
  

 	
           (2) to
 add to the covenants and agreements of the Company for the benefit of the
 Holders of all or any series of Securities (as shall be specified in such
 supplemental indenture or indentures) or to surrender any right or power
 herein conferred upon the Company; or 

 
	
  

 	
  

 
	
  

 	
           (3) to
 add to or change any of the provisions of this Indenture to provide that
 Bearer Securities may be registrable as to principal, to change or eliminate any
 restrictions on the payment of principal of, any premium or interest on,
 Securities, to permit Bearer Securities to be issued in exchange for
 Registered Securities, to permit Bearer Securities to be exchanged for Bearer
 Securities of other authorized denominations or to permit or facilitate the
 issuance of Securities in uncertificated form, provided any such action shall
 not adversely affect the interests of the Holders of Outstanding Securities
 of any series or any Coupons appertaining thereto in any material respect; or
 

 
	
  

 	
  

 
	
  

 	
           (4)
 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
 6.10; or 

 
	
  

 	
  

 
	
  

 	
           (5)
 to cure any ambiguity or to correct or supplement any provision herein which
 may be defective or inconsistent with any other provision herein, or to make
 any other provisions with respect to matters or questions arising under this
 Indenture, which shall not adversely affect the interests of the Holders of
 Securities of any series then Outstanding or any Coupons appertaining thereto
 in any material respect; or 

 
	
  

 	
  

 
	
  

 	
           (6)
 to establish the form or terms of Securities of any series and any related
 Coupons as permitted by Sections 2.1 and 3.1, including the provisions and
 procedures relating to Securities convertible into or exchangeable for any
 securities of any Person (including the Company); or 

 
	
  

 	
  

 
	
  

 	
           (7)
 to add any additional Events of Default with respect to all or any series of
 Securities (as shall be specified in such supplemental indenture); or 

 
	
  

 	
  

 
	
  

 	
           (8)
 to supplement any of the provisions of this Indenture to such extent as shall
 be necessary to permit or facilitate the defeasance and discharge of any
 series of Securities pursuant to Article 4, provided that any such
 action shall not adversely affect the interests of any Holder of an
 Outstanding Security of such series and any Coupons appertaining thereto or
 any other Outstanding Security or Coupon in any material respect; or 

 

-52-

	
  

 	
  

 
	
  

 	
           (9)
 to secure payment on the Securities; or 

 
	
  

 	
  

 
	
  

 	
           (10)
 to amend or supplement any provision contained herein or in any supplemental
 indenture, provided that no such amendment or supplement shall
 materially adversely affect the interests of the Holders of any Securities
 then Outstanding. 

 

          Section
9.2. Supplemental Indentures with Consent of Holders. With the consent
of the Holders of not less than a majority in aggregate principal amount of the
Outstanding Securities of each series affected by such supplemental indenture,
by Act of said Holders delivered to the Company and the Trustee, the Company
(when authorized by or pursuant to a Company’s Board Resolution) and the
Trustee may enter into an indenture or indentures supplemental hereto for the
purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of modifying in any manner the
rights of the Holders of Securities of such series under this Indenture or of
the Securities of such series; provided, however, that no such
supplemental indenture, without the consent of each Holder of each Outstanding
Security affected thereby, shall: 

	
  

 	
  

 
	
  

 	
           (1)
 extend the Stated Maturity of the principal of, or any premium or installment
 of interest on, any Security, or reduce the principal amount thereof or the
 rate (or modify the calculation of such rate) of interest thereon, or any
 premium payable upon the redemption thereof or otherwise, or reduce the
 amount of the principal of an Original Issue Discount Security that would be
 due and payable upon a declaration of acceleration of the Maturity thereof
 pursuant to Section 5.2 or the amount thereof provable in bankruptcy pursuant
 to Section 5.4, change the redemption provisions or adversely affect the
 right of repayment at the option of any Holder as contemplated by Article 13,
 or change the Place of Payment, Currency in which the principal of, any
 premium or interest on, any Security is payable, or impair the right to
 institute suit for the enforcement of any such payment on or after the Stated
 Maturity thereof (or, in the case of redemption, on or after the Redemption
 Date or, in the case of repayment at the option of the Holder, on or after
 the date for repayment), or 

 
	
  

 	
  

 
	
  

 	
           (2)
 reduce the percentage in principal amount of the Outstanding Securities of
 any series, the consent of whose Holders is required for any such
 supplemental indenture, or the consent of whose Holders is required for any
 waiver (of compliance with certain provisions of this Indenture or certain
 defaults hereunder and their consequences) provided for in this Indenture, or
 reduce the requirements of Section 15.4 for quorum or voting, or 

 
	
  

 	
  

 
	
  

 	
           (3)
 modify any of the provisions of this Section, Section 5.13 or Section 10.6,
 except to increase any such percentage or to provide that certain other
 provisions of this Indenture cannot be modified or waived without the consent
 of the Holder of each Outstanding Security affected thereby, or 

 
	
  

 	
  

 
	
  

 	
           (4)
 make any change that adversely affects the right to convert or exchange any
 Security into or for securities of the Company or other securities (whether
 or not issued by the Company), cash or property in accordance with its terms.
 

 

          In
computing whether the Holders of the requisite principal amount of Outstanding
Securities have taken action under this Indenture or under a supplemental
indenture hereto, the Company shall use: (i) for an Original Issue Discount
security, the amount of the principal that would be due and payable as of that
date, as if the Maturity of such Security had been accelerated due to a
default; and for a Security denominated in a Foreign Currency or Currencies,
the Dollar equivalent of the outstanding principal amount as of that date,
using the exchange rate in effect on the date of original issuance of such
Security. 

-53-

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

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

          Any
consent given by any Holder of a Security under this Section 9.2 shall be
irrevocable for a period of six months after the day of execution thereof, but
may be revoked at any time thereafter by such Holder or by his successor in
title by filing written notice of such revocation with the Trustee at its
corporate trust office; provided, however, that such consent shall not be
revocable after the holders of not less than a majority in aggregate principal
amount of the Securities of the series of which such Security is a part at the
time Outstanding shall have consented to such supplemental indenture. No
notation on any Security of the fact of such consent shall be necessary, but
any such written consent by the Holder of any Security shall be conclusive and
binding on all future Holders and owners of the same Security and of all
Securities delivered in exchange therefor, unless revoked in the manner and
during the period provided in this Section 9.2. 

          Section
9.3. Execution of Supplemental Indentures. As a condition to executing,
or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trust created by
this Indenture, the Trustee shall be given, and (subject to Section 315 of the
Trust Indenture Act) shall be fully protected in relying upon, an Opinion of
Counsel and Officers’ Certificate stating that the execution of such
supplemental indenture is authorized or permitted by this Indenture. The
Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under
this Indenture or otherwise is not reasonably acceptable to the Trustee. 

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

          Section
9.5. Reference in Securities to Supplemental Indentures. Securities of
any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall if required by the Trustee,
bear a notation in form approved by the Trustee as to any matter provided for
in such supplemental indenture. If the Company shall so determine, new
Securities of any series so modified as to conform, in the opinion of the
Trustee and the Company, to any such supplemental indenture may be prepared and
executed by the Company and authenticated and delivered by the Trustee in
exchange for Outstanding Securities of such series in equal aggregate principal
amounts, and such exchange shall be made without cost to the Holders. 

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

          Section
9.7. Notice of Supplemental Indenture. Promptly after the execution by
the Company and the Trustee of any supplemental indenture pursuant to Section
9.2, the Company shall transmit to the Holders of Outstanding Securities of any
series affected thereby a notice setting forth in general terms the 

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substance of
such supplemental indenture. Failure to send such notice will not impair the
validity of such supplemental indenture. 

ARTICLE 10

COVENANTS

          Section
10.1. Payment of Principal, any Premium, Interest. The Company covenants
and agrees for the benefit of the Holders of the Securities of each series that
it will duly and punctually pay the principal of, and any premium or interest,
if any, on the Securities of such series in accordance with the terms thereof,
any Coupons appertaining thereto and this Indenture. Any interest due on any
Bearer Security on or before the Maturity thereof, shall be payable only upon
presentation and surrender of the Coupons appertaining thereto for such
interest as they severally mature. When and as paid, all Securities of such series
shall be cancelled and destroyed in accordance with the Section 3.9 hereof. 

          Section
10.2. Maintenance of Office or Agency. The Company shall maintain in
each Place of Payment for any series of Securities an Office or Agency where
Securities of such series (but not Bearer Securities, except as otherwise
provided below, unless such Place of Payment is located outside the United
States) may be presented or surrendered for payment, where Securities of such
series may be surrendered for registration of transfer or exchange, where
Securities of such series that are convertible or exchangeable may be
surrendered for conversion or exchange, and where notices and demands to or
upon the Company in respect of the Securities of such series relating thereto
and this Indenture may be served. If Securities of a series are issuable as
Bearer Securities, the Company shall maintain, subject to any laws or
regulations applicable thereto, an Office or Agency in a Place of Payment for
such series which is located outside the United States where Securities of such
series and any Coupons appertaining thereto may be presented and surrendered
for payment; provided, however, that if the Securities of such series are
listed on The Stock Exchange of the United Kingdom and the Republic of Ireland
or the Luxembourg Stock Exchange or any other stock exchange located outside
the United States and such stock exchange shall so require, the Company shall
maintain a Paying Agent in London, Luxembourg or any other required city located
outside the United States, as the case may be, so long as the Securities of
such series are listed on such exchange. The Company will give prompt written
notice to the Trustee of the location, and any change in the location, of such
Office or Agency. If at any time the Company shall fail to maintain any such
required Office or Agency or shall fail to furnish the Trustee with the address
thereof, such presentations, surrenders, notices and demands may be made or
served at the Corporate Trust Office of the Trustee, except that Bearer
Securities of such series and any Coupons appertaining thereto may be presented
and surrendered for payment at the place specified for the purpose with respect
to such Securities as provided in or pursuant to this Indenture, and the
Company hereby appoints the Trustee as its agent to receive all such
presentations, surrenders, notices and demands. 

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

-55-

          The
Company may also from time to time designate one or more other Offices or
Agencies where the Securities of one or more series may be presented or
surrendered for any or all such purposes and may from time to time rescind such
designations; provided, however, that no such designation or rescission shall
in any manner relieve the Company of its obligation to maintain an Office or
Agency in each Place of Payment for Securities of any series for such purposes.
The Company shall give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other
Office or Agency. Unless otherwise provided in or pursuant to this Indenture,
the Company hereby designates as the Place of Payment for each series of
Securities the Borough of Manhattan, The City of New York, and initially
appoints the Corporate Trust Office of the Trustee as the Office or Agency of
the Company in the Borough of Manhattan, The City of New York for such purpose.
The Company may subsequently appoint a different Office or Agency in the
Borough of Manhattan, The City of New York for the Securities of any series. 

          Unless
otherwise specified with respect to any Securities pursuant to Section 3.1, if
and so long as the Securities of any series are denominated in a Foreign
Currency or may be payable in a Foreign Currency, or so long as it is required
under any other provision of this Indenture, then the Company will maintain
with respect to each such series of Securities, or as so required, at least one
exchange rate agent. 

          Section
10.3. Money for Securities Payments to Be Held in Trust. If the Company
shall at any time act as its own Paying Agent, with respect to any series of
Securities, it shall, on or before each due date of the principal of, any
premium or interest on, any of the Securities of such series, segregate and
hold in trust for the benefit of the Persons entitled thereto a sum in the
currency or currencies, currency unit or units or composite currency or currencies
in which the Securities of such series are payable (except as otherwise
specified pursuant to Section 3.1 for the Securities of such series) sufficient
to pay the principal or any premium or interest so becoming due until such sums
shall be paid to such Persons or otherwise disposed of as herein provided, and
shall promptly notify the Trustee of its action or failure so to act. 

          Whenever
the Company shall have one or more Paying Agents for any series of Securities,
it shall, no later than 11:00 am on the Business Day prior to each due date of
the principal of, any premium or interest on, any Securities of such series,
deposit with any Paying Agent a sum (in the currency or currencies, currency
unit or units or composite currency or currencies described in the preceding
paragraph) sufficient to pay the principal or any premium or interest so
becoming due, such sum to be held in trust for the benefit of the Persons
entitled thereto, and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of its action or failure so to act. 

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

	
  

 	
  

 
	
  

 	
           (1)
 hold all sums held by it for the payment of the principal of, any premium or
 interest on, Securities of such series in trust for the benefit of the
 Persons entitled thereto until such sums shall be paid to such Persons or
 otherwise disposed of as provided in or pursuant to this Indenture; 

 
	
  

 	
  

 
	
  

 	
           (2)
 give the Trustee notice of any default by the Company (or any other obligor
 upon the Securities of such series) in the making of any payment of
 principal, any premium or interest on, Securities of such series; and 

 
	
  

 	
  

 
	
  

 	
           (3)
 at any time during the continuance of any such default, upon the written
 request of the Trustee, forthwith pay to the Trustee all sums so held in
 trust by such Paying Agent. 

 

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

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

          Section
10.4. Corporate Existence. Subject to Article 8, the Company shall do or
cause to be done all things necessary to preserve and keep in full force and
effect its corporate existence and that of each of its Subsidiaries and its
rights (charter and statutory) and franchises; provided, however, that the
foregoing shall not obligate the Company or any of its Subsidiaries to preserve
any such right or franchise if the Company or any such Subsidiary shall
determine that the preservation thereof is no longer desirable in the conduct
of its business or the business of such Subsidiary and that the loss thereof is
not disadvantageous in any material respect to any Holder. 

          Section
10.5. Waiver of Certain Covenants. Anything in this Indenture to the contrary
notwithstanding, the Company may fail or omit in any particular instance to
comply with a covenant or condition set forth herein with respect to the
Securities of any series if, prior to the time of such failure or omission, the
Holders of at least a majority in principal amount of the Outstanding
Securities of such series, by Act of such Holders, either shall waive such
compliance in such instance or generally shall have waived compliance with such
term, provision or condition, but no such waiver shall extend to or affect such
term, provision or condition except to the extent so expressly waived, and,
until such waiver shall become effective, the obligations of the Company and
the duties of the Trustee in respect of any such term, provision or condition
shall remain in full force and effect. The Company shall obtain and file with
the Trustee, before or after the time for such compliance, evidence of the
consent of such Holders. 

          Section
10.6. Company Statement as to Compliance; Notice of Certain Defaults. 

	
  

 	
  

 	
  

 
	
  

 	
           (1)
 The Company shall deliver to the Trustee, within 120 days after the end of
 each fiscal year, a written statement (which need not be contained in or
 accompanied by an Officers’ Certificate) signed by the principal executive
 officer, the principal financial officer or the principal accounting officer
 of the Company, stating that 

 

-57-

	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (a)
 a review of the activities of the Company during such year and of its
 performance under this Indenture has been made under his or her supervision,
 and 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (b)
 to the best of his or her knowledge, based on such review, (a) the Company
 has complied in all material respects with all the conditions and covenants
 imposed on it under this Indenture throughout such year, or, if there has
 been a default in the fulfillment of any such condition or covenant or
 agreement, specifying each such default known to him or her and the nature
 and status thereof, and (b) no event has occurred and is continuing which is,
 or after notice or lapse of time or both would become, an Event of Default,
 or, if such an event has occurred and is continuing, specifying each such
 event known to him and the nature and status thereof. 

 
	
  

 	
  

 	
  

 
	
  

 	
           (2)
 The Company shall deliver to the Trustee, within 30 days after the occurrence
 thereof, written notice of any Event of Default or any event which after
 notice or lapse of time or both would become an Event of Default pursuant to
 clause (4) of Section 5.1. 

 
	
  

 	
  

 	
  

 
	
  

 	
           (3)
 The Trustee shall have no duty to monitor the Company’s compliance with the
 covenants contained in this Article 10 other than as specifically set forth
 in this Section 10.6. 

 

ARTICLE 11

REDEMPTION OF SECURITIES

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

          Section
11.2. Election to Redeem; Notice to Trustee. The election of the Company
to redeem any Securities shall be evidenced by or pursuant to a Board
Resolution. In case of any redemption at the election of the Company of (a)
less than all of the Securities of any series or (b) all of the Securities of
any series, with the same issue date, interest rate or formula, Stated Maturity
and other terms, the Company shall, at least 60 days prior to the Redemption
Date fixed by the Company (unless a shorter notice shall be reasonably
satisfactory to the Trustee), notify the Trustee of such Redemption Date and of
the principal amount of Securities of such series to be redeemed. 

          Section
11.3. Selection by Trustee of Securities to be Redeemed. If less than
all of the Securities of any series with the same issue date, interest rate or
formula, Stated Maturity and other terms are to be redeemed, the Outstanding
Securities shall be redeemed on a pro rata
basis; provided, however, that no such partial redemption shall reduce the
portion of the principal amount of a Registered Security of such series not
redeemed to less than the minimum denomination for a Security of such series
established herein or pursuant hereto. 

          The
Trustee shall promptly notify the Company and the Security Registrar (if other
than itself) in writing of the Securities selected for redemption and, in the
case of any Securities selected for partial redemption, the principal amount
thereof to be redeemed. 

          For
all purposes of this Indenture, unless the context otherwise requires, all
provisions relating to the redemption of Securities shall relate, in the case
of any Securities redeemed or to be redeemed only in part, to the portion of
the principal of such Securities which has been or is to be redeemed. 

-58-

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

          Section
11.4. Notice of Redemption. Notice of redemption will be mailed by first
class mail to each holder of Securities to be redeemed at its registered
address at least 30 but not more than 60 days prior to the Redemption Date,
unless a shorter period is specified in the Securities to be redeemed; provided that redemption notices may be mailed
more than 60 days prior to a redemption date if the notice is issued in
connection with a defeasance of the Securities or a satisfaction and discharge
of the Indenture. Failure to give notice by mailing in the manner herein
provided to the Holder of any Registered Securities designated for redemption
as a whole or in part, or any defect in the notice to any such Holder, shall
not affect the validity of the proceedings for the redemption of any other
Securities or portion thereof. 

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

          All
notices of redemption shall state: 

	
  

 	
  

 
	
  

 	
           (1)
 the Redemption Date, 

 
	
  

 	
  

 
	
  

 	
           (2)
 the Redemption Price, 

 
	
  

 	
  

 
	
  

 	
           (3)
 if less than all Outstanding Securities of any series are to be redeemed, the
 identification (and, in the case of partial redemption, the principal amount)
 of the particular Security or Securities to be redeemed, 

 
	
  

 	
  

 
	
  

 	
           (4)
 in case any Security is to be redeemed in part only, the notice which relates
 to such Security shall state that on and after the Redemption Date, upon surrender
 of such Security, the Holder of such Security will receive, without charge, a
 new Security or Securities of authorized denominations for the principal
 amount thereof remaining unredeemed, 

 
	
  

 	
  

 
	
  

 	
           (5)
 that, on the Redemption Date, the Redemption Price shall become due and
 payable upon each such Security or portion thereof to be redeemed, and, if
 applicable, that interest thereon shall cease to accrue on and after said
 date, 

 
	
  

 	
  

 
	
  

 	
           (6)
 the place or places where such Securities, together (in the case of Bearer
 Securities) with all Coupons appertaining thereto, if any, maturing after the
 Redemption Date, are to be surrendered for payment of the Redemption Price
 and any accrued interest, 

 
	
  

 	
  

 
	
  

 	
           (7)
 that the redemption is for a sinking fund, if such is the case, 

 
	
  

 	
  

 
	
  

 	
           (8)
 that, unless otherwise specified in such notice, Bearer Securities of any
 series, if any, surrendered for redemption must be accompanied by all Coupons
 maturing subsequent to the date fixed for redemption or the amount of any
 such missing Coupon or Coupons will be deducted from the Redemption Price,
 unless security or indemnity satisfactory to the Company, the Trustee and any
 Paying Agent is furnished, 

 

-59-

	
  

 	
  

 
	
  

 	
           (9)
 if Bearer Securities of any series are to be redeemed and no Registered
 Securities of such series are to be redeemed, and if such Bearer Securities
 may be exchanged for Registered Securities not subject to redemption on the
 Redemption Date pursuant to Section 3.5 or otherwise, the last date, as
 determined by the Company, on which such exchanges may be made, 

 
	
  

 	
  

 
	
  

 	
           (10)
 in the case of Securities of any series that are convertible into Common
 Stock of the Company or exchangeable for other securities, the conversion or
 exchange price or rate, the date or dates on which the right to convert or
 exchange the principal of the Securities of such series to be redeemed will
 commence or terminate and the place or places where such Securities may be
 surrendered for conversion or exchange, and 

 
	
  

 	
  

 
	
  

 	
           (11)
 the CUSIP number or the Euroclear or Clearstream reference numbers of such
 Securities, if any (or any other numbers used by a Depository to identify
 such Securities). 

 

          A
notice of redemption published as contemplated by Section 1.6 need not identify
particular Registered Securities to be redeemed. 

          Notice
of redemption of Securities to be redeemed at the election of the Company shall
be given by the Company or, at the Company’s request, by the Trustee in the name
and at the expense of the Company; provided, in the latter case, the
Trustee shall be given at least 5 days prior notice of the requested date of
the giving of such. 

          Section
11.5. Deposit of Redemption Price. One Business Day prior to any Redemption
Date, the Company shall deposit, with respect to the Securities of any series
called for redemption pursuant to Section 11.4, with the Trustee or with a
Paying Agent (or, if the Company is acting as its own Paying Agent, segregate
and hold in trust as provided in Section 10.3) an amount of money in the
applicable Currency sufficient to pay the Redemption Price of, and (except if
the Redemption Date shall be an Interest Payment Date, unless otherwise
specified pursuant to Section 3.1 or in the Securities of such series) any
accrued interest on, all such Securities or portions thereof which are to be
redeemed on that date. 

          Section
11.6. Securities Payable on Redemption Date. Notice of redemption having
been given as aforesaid, the Securities so to be redeemed shall, on the
Redemption Date, become due and payable at the Redemption Price therein
specified, and from and after such date (unless the Company shall default in
the payment of the Redemption Price and accrued interest) such Securities shall
cease to bear interest and the Coupons for such interest appertaining to any
Bearer Securities so to be redeemed, except to the extent provided below, shall
be void. Upon surrender of any such Security for redemption in accordance with
said notice, together with all Coupons, if any, appertaining thereto maturing
after the Redemption Date, such Security shall be paid by the Company at the
Redemption Price, together with any accrued interest to the Redemption Date; provided,
however, that, except as otherwise provided in or pursuant to this
Indenture or the Bearer Securities of such series, installments of interest on
Bearer Securities whose Stated Maturity is on or prior to the Redemption Date
shall be payable only upon presentation and surrender of Coupons for such
interest (at an Office or Agency located outside the United States except as
otherwise provided in Section 10.2), and provided, further, that,
except as otherwise specified in or pursuant to this Indenture or the
Registered Securities of such series, installments of interest on Registered
Securities whose Stated Maturity is on or prior to the Redemption Date shall be
payable to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business on the Regular Record
Dates therefor according to their terms and the provisions of Section 3.7. 

          If
any Bearer Security surrendered for redemption shall not be accompanied by all
appurtenant Coupons maturing after the Redemption Date, such Security may be
paid after deducting from the Redemption Price an amount equal to the face
amount of all such missing Coupons, or the surrender of such 

-60-

missing Coupon
or Coupons may be waived by the Company and the Trustee if there be furnished
to them such security or indemnity as they may require to save each of them and
any Paying Agent harmless. If thereafter the Holder of such Security shall
surrender to the Trustee or any Paying Agent any such missing Coupon in respect
of which a deduction shall have been made from the Redemption Price, such
Holder shall be entitled to receive the amount so deducted; provided, however,
that any interest represented by Coupons shall be payable only upon
presentation and surrender of those Coupons at an Office or Agency for such
Security located outside of the United States except as otherwise provided in
Section 10.2. 

          If
any Security called for redemption shall not be so paid upon surrender thereof
for redemption, the principal and any premium until paid, shall bear interest
from the Redemption Date at the rate prescribed therefor in the Security. 

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

          Section
11.8. Cancellation and Destruction of Securities. All Securities
redeemed and paid pursuant to the provisions of this Article 11 shall be
disposed of, as provided in Section 3.9, and, except in the case of partial
redemption of any Security, no Security shall be issued under this Indenture in
lieu thereof. 

ARTICLE 12

SINKING FUNDS

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

          The
minimum amount of any sinking fund payment provided for by the terms of
Securities of any series is herein referred to as a “mandatory sinking fund
payment,” and any payment in excess of such minimum amount provided for by the
terms of Securities of such series is herein referred to as an “optional
sinking fund payment.” If provided for by the terms of Securities of any
series, the cash amount of any sinking fund payment may be subject to reduction
as provided in Section 12.2. Each sinking fund payment shall be applied to the
redemption of Securities of any series as provided for by the terms of
Securities of such series and this Indenture. 

          Section
12.2. Satisfaction of Sinking Fund Payments with Securities. The Company
may, in satisfaction of all or any part of any sinking fund payment with
respect to the Securities of any series to be made pursuant to the terms of
such Securities (1) deliver Outstanding Securities of such series (other than 

-61-

any of such
Securities previously called for redemption or any of such Securities in
respect of which cash shall have been released to the Company), together in the
case of any Bearer Securities of such series with all unmatured Coupons
appertaining thereto, and (2) apply as a credit Securities of such series which
have been redeemed either at the election of the Company pursuant to the terms
of such series of Securities or through the application of permitted optional
sinking fund payments pursuant to the terms of such Securities, provided that
such series of Securities have not been previously so credited. Such Securities
shall be received and credited for such purpose by the Trustee at the
Redemption Price specified in such Securities for redemption through operation
of the sinking fund and the amount of such sinking fund payment shall be
reduced accordingly. If, as a result of the delivery or credit of Securities of
any series in lieu of cash payments pursuant to this Section 12.2, the
principal amount of Securities of such series to be redeemed in order to
satisfy the remaining sinking fund payment shall be less than $100,000, the
Trustee need not call Securities of such series for redemption, except upon
Company Request, and such cash payment shall be held by the Trustee or a Paying
Agent and applied to the next succeeding sinking fund payment, provided,
however, that the Trustee or such Paying Agent shall at the request of the
Company from time to time pay over and deliver to the Company any cash payment
so being held by the Trustee or such Paying Agent upon delivery by the Company
to the Trustee of Securities of that series purchased by the Company having an
unpaid principal amount equal to the cash payment requested to be released to
the Company. 

          Section
12.3. Redemption of Securities for Sinking Fund. Not less than 75 days
prior to each sinking fund payment date for any series of Securities, the
Company shall deliver to the Trustee an Officers’ Certificate specifying the
amount of the next, ensuing mandatory sinking fund payment for that series
pursuant to the terms of that series, the portion thereof, if any, which is to
be satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivering and crediting of Securities of that series pursuant to
Section 12.2, and the optional amount, if any, to be added in cash to the next
ensuing mandatory sinking fund payment, and will also deliver to the Trustee
any Securities to be so credited and not theretofore delivered. If such
Officers’ Certificate shall specify an optional amount to be added in cash to
the next ensuing mandatory sinking fund payment, the Company shall thereupon be
obligated to pay the amount therein specified. Not less than 60 days before
each such sinking fund payment date the Trustee shall select the Securities to
be redeemed upon such sinking fund payment date in the manner specified in
Section 11.3 and cause notice of the redemption thereof to be given in the name
of and at the expense of the Company in the manner provided in Section 11.4.
Such notice having been duly given, the redemption of such Securities shall be
made upon the terms and in the manner stated in Sections 11.6 and 11.7. 

ARTICLE 13

REPAYMENT AT THE OPTION OF HOLDERS

          Section
13.1. Applicability of Article. Securities of any series which are
repayable at the option of the Holders thereof before their Stated Maturity
shall be repaid in accordance with the terms of the Securities of such series.
The repayment of any principal amount of Securities pursuant to such option of
the Holder to require repayment of Securities before their Stated Maturity, for
purposes of Section 3.9, shall not operate as a payment, redemption or
satisfaction of the Indebtedness represented by such Securities unless and until
the Company, at its option, shall deliver or surrender the same to the Trustee
with a directive that such Securities be cancelled. Notwithstanding anything to
the contrary contained in this Section 13.1, in connection with any repayment
of Securities, the Company may arrange for the purchase of any Securities by an
agreement with one or more investment bankers or other purchasers to purchase
such Securities by paying to the Holders of such Securities on or before the
close of business on the repayment date an amount not less than the repayment
price payable by the Company on repayment of such 

-62-

Securities,
and the obligation of the Company to pay the repayment price of such Securities
shall be satisfied and discharged to the extent such payment is so paid by such
purchasers. 

ARTICLE 14

SECURITIES IN FOREIGN CURRENCIES

          Section
14.1. Applicability of Article. Whenever this Indenture provides for any
action by, or the determination of any of the rights of, Holders of Securities
of any series in which not all of such Securities are denominated in the same
Currency, or any distribution to Holders of Securities, in the absence of any
provision to the contrary in the form of Security of any particular series or
pursuant to this Indenture or the Securities, any amount in respect of any
Security denominated in a Currency other than Dollars shall be treated for any
such action or distribution as that amount of Dollars that could be obtained
for such amount on such reasonable basis of exchange and as of the record date
with respect to Registered Securities of such series (if any) for such action,
determination of rights or distribution (or, if there shall be no applicable
record date, such other date reasonably proximate to the date of such action,
determination of rights or distribution) as the Company may specify in a
written notice to the Trustee. 

ARTICLE 15

MEETINGS OF HOLDERS OF SECURITIES

          Section
15.1. Purposes for Which Meetings May Be Called. A meeting of Holders of
Securities of any series may be called at any time and from time to time
pursuant to this Article, to make, give or take any request, demand,
authorization, direction, notice, consent, waiver or other Act provided by this
Indenture or under applicable law, to be made, given or taken by Holders of
Securities of such series. 

          Section
15.2. Call, Notice and Place of Meetings. 

	
  

 	
  

 
	
  

 	
           (1)
 The Trustee may at any time call a meeting of Holders of Securities of any
 series for any purpose specified in Section 15.1, to be held at such time and
 at such place in the Borough of Manhattan, The City of New York, or, if
 Securities of such series have been issued in whole or in part as Bearer
 Securities, in London or in such place outside the United States as the
 Trustee shall determine. Notice of every meeting of Holders of Securities of
 any series, setting forth the time and the place of such meeting and in
 general terms the action proposed to be taken at such meeting, shall be
 given, in the manner provided in Section 1.6, not less than 21 nor more than
 180 days prior to the date fixed for the meeting. 

 
	
  

 	
  

 
	
  

 	
           (2)
 In case at any time the Company (by or pursuant to a Board Resolution) or the
 Holders of at least 10% in principal amount of the Outstanding Securities of
 any series or all series shall have requested the Trustee to call a meeting
 of the Holders of Securities of such series or all series, respectively, for
 any purpose specified in Section 15.1, by written request setting forth in
 reasonable detail the action proposed to be taken at the meeting, and the
 Trustee shall not have mailed notice of or made the first publication of the
 notice of such meeting within 21 days after receipt of such request
 (whichever shall be required pursuant to Section 1.6) or shall not thereafter
 proceed to cause the meeting to be held as provided herein, then the Company
 or the Holders of Securities of such series in the amount above specified, as
 the case may be, may determine the time and the place in the Borough of
 Manhattan, The City of New York, or, if Securities of such series are to be
 issued as Bearer Securities, in London for such meeting and may call such
 meeting for such purposes by giving notice thereof as provided in clause (1)
 of this Section. 

 

-63-

          Section
15.3. Persons Entitled to Vote at Meetings. To be entitled to vote at
any meeting of Holders of Securities of any series, a Person shall be (1) a
Holder of one or more Outstanding Securities of such series, or (2) a Person
appointed by an instrument in writing as proxy for a Holder or Holders of one
or more Outstanding Securities of such series by such Holder or Holders. The
only Persons who shall be entitled to be present or to speak at any meeting of
Holders of Securities of any series shall be the Persons entitled to vote at
such meeting and their counsel, any representatives of the Trustee and its
counsel, and any representatives of the Company and its counsel. 

          Section
15.4. Quorum; Action. The Persons entitled to vote a majority in
aggregate principal amount of the Outstanding Securities of the relevant series
shall constitute a quorum for any meeting of Holders of Securities of such
series. In the absence of a quorum within 30 minutes after the time appointed
for any such meeting, the meeting shall, if convened at the request of Holders
of Securities of such series, be dissolved. In any other case the meeting may
be adjourned for a period of not less than 10 days as determined by the
chairman of the meeting prior to the adjournment of such meeting. In the
absence of a quorum at any reconvened meeting, such reconvened meeting may be
further adjourned for a period of not less than 10 days as determined by the
chairman of the meeting prior to the adjournment of such reconvened meeting.
Notice of the reconvening of any adjourned meeting shall be given as provided
in Section 15.2(1), except that such notice need be given only once not less
than five days prior to the date on which the meeting is scheduled to be
reconvened. Notice of the reconvening of an adjourned meeting shall state
expressly the percentage, as provided above, of the principal amount of the
Outstanding Securities of such series which shall constitute a quorum. 

          Except
as limited by the proviso to Section 9.2, any resolution presented to a meeting
or adjourned meeting duly reconvened at which a quorum is present as aforesaid
may be adopted only by the affirmative vote of the Holders of a majority in
principal amount of the Outstanding Securities of that series; provided,
however, that, except as limited by the proviso to Section 9.2, any
resolution with respect to any request, demand, authorization, direction,
notice, consent, waiver or other Act which this Indenture expressly provides
may be made, given or taken by the Holders of a specified percentage, which is
less than a majority, in principal amount of the Outstanding Securities of a
series may be adopted at a meeting or an adjourned meeting duly reconvened and
at which a quorum is present as aforesaid by the affirmative vote of the
Holders of such specified percentage in principal amount of the Outstanding
Securities of such series. 

          Except
as limited by the proviso to Section 9.2, any resolution passed or decision
taken at any meeting of Holders of Securities of any series duly held in
accordance with this Section shall be binding on all the Holders of Securities
of such series and the Coupons appertaining thereto, whether or not such
Holders were present or represented at the meeting. 

          Section
15.5. Determination of Voting Rights; Conduct and Adjournment of Meetings.

	
  

 	
  

 
	
  

 	
           (1)
 Notwithstanding any other provisions of this Indenture, the Trustee may make
 such reasonable regulations as it may deem advisable for any meeting of
 Holders of Securities of such series in regard to proof of the holding of
 Securities of such series and of the appointment of proxies and in regard to
 the appointment and duties of inspectors of votes, the submission and
 examination of proxies, certificates and other evidence of the right to vote,
 and such other matters concerning the conduct of the meeting as it shall deem
 appropriate. Except as otherwise permitted or required by any such
 regulations, the holding of Securities shall be proved in the manner
 specified in Section 1.4 and the appointment of any proxy shall be proved in
 the manner specified in Section 1.4 or by having the signature of the person
 executing the proxy witnessed or guaranteed by any trust company, bank or
 banker authorized by Section 1.4 to certify to the holding of Bearer
 Securities. Such regulations may provide that written instruments appointing
 proxies, 

 

-64-

	
  

 	
  

 
	
  

 	
 regular on
 their face, may be presumed valid and genuine without the proof specified in
 Section 1.4 or other proof.

 
	
  

 	
  

 
	
  

 	
           (2)
 The Trustee shall, by an instrument in writing, appoint a temporary chairman
 of the meeting, unless the meeting shall have been called by the Company or
 by Holders of Securities as provided in Section 15.2(2), in which case the
 Company or the Holders of Securities of the series calling the meeting, as
 the case may be, shall in like manner appoint a temporary chairman. A
 permanent chairman and a permanent secretary of the meeting shall be elected
 by vote of the Persons entitled to vote a majority in principal amount of the
 Outstanding Securities of such series represented at the meeting. 

 
	
  

 	
  

 
	
  

 	
           (3)
 At any meeting, each Holder of a Security of such series or proxy shall be
 entitled to one vote for each $1,000 principal amount of Securities of such
 series held or represented by him or such other amount established pursuant
 to Section 3.1; provided, however, that no vote shall be cast or counted at
 any meeting in respect of any Security challenged as not Outstanding and
 ruled by the chairman of the meeting to be not Outstanding. The chairman of
 the meeting shall have no right to vote, except as a Holder of a Security of
 such series or proxy. 

 
	
  

 	
  

 
	
  

 	
           (4)
 Any meeting of Holders of Securities of any series duly called pursuant to
 Section 15.2 at which a quorum is present may be adjourned from time to time
 by Persons entitled to vote a majority in principal amount of the Outstanding
 Securities of such series represented at the meeting; and the meeting may be
 held as so adjourned without further notice. 

 

          Section
15.6. Counting Votes and Recording Action of Meetings. The vote upon any
resolution submitted to any meeting of Holders of Securities of any series
shall be by written ballots on which shall be subscribed the signatures of the
Holders of Securities of such series or of their representatives by proxy and
the principal amounts and serial numbers of the Outstanding Securities of such
series held or represented by them. The permanent chairman of the meeting shall
appoint two inspectors of votes who shall count all votes cast at the meeting
for or against any resolution and who shall make and file with the secretary of
the meeting their verified written reports in triplicate of all votes cast at
the meeting. A record, at least in triplicate, of the proceedings of each
meeting of Holders of Securities of any series shall be prepared by the
secretary of the meeting and there shall be attached to said record the
original reports of the inspectors of votes on any vote by ballot taken thereat
and affidavits by one or more persons having knowledge of the facts setting
forth a copy of the notice of the meeting and showing that said notice was
given as provided in Section 15.2 and, if applicable, Section 15.4. Each copy
shall be signed and verified by the affidavits of the permanent chairman and
secretary of the meeting and one such copy shall be delivered to the Company,
and another to the Trustee to be preserved by the Trustee, the latter to have
attached thereto the ballots voted at the meeting. Any record so signed and
verified shall be conclusive evidence of the matters therein stated. 

          Section
15.7. Preservation of Rights of Trustee and Holders. Nothing contained
in this Article 15 shall be deemed or construed to authorize or permit, by
reason of any call of a meeting of Holders of any or all series or any rights
expressly or impliedly conferred hereunder to make such call, any hindrance or
delay in the exercise of any right or rights conferred upon or reserved to the
Trustee or to the Holders of any or all series under any of the provisions of
this Indenture or of such series of Securities. 

-65-

          IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly
executed, as of the date first above written 

	
  

 	
  

 	
  

 
	
  

 	
 CIT GROUP
 INC.

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
 /s/ Glenn A.
 Votek

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name: Glenn
 A. Votek

 
	
  

 	
  

 	
 Title:
 Executive Vice President & Treasurer

 
	
  

 	
  

 	
  

 

	
  

 	
  

 	
  

 
	
  

 	
 DEUTSCHE
 BANK TRUST COMPANY AMERICAS, as Trustee

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
 /s/ Maria
 Inoa

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name: Maria
 Inoa

 
	
  

 	
  

 	
 Title:
 Associate

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
 /s/ Sue Kim

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name: Sue
 Kim

 
	
  

 	
  

 	
 Title:
 Associate

 

APPENDIX A 

PROVISIONS RELATING TO INITIAL SECURITIES 

AND EXCHANGE SECURITIES

          1. Definitions.

          1.1 Definitions.

          For
the purposes of this Appendix the following terms shall have the meanings indicated below: 

          “Applicable
Procedures” means, with respect to any transfer or
transaction involving a Regulation S Global Security or beneficial interest
therein, the rules and procedures of the Depository for such a Regulation S
Global Security, to the extent applicable to such transaction and as in effect
from time to time. 

          “Definitive
Security” means a certificated Initial Security or Exchange
Security bearing, if required, the appropriate restricted securities legend set
forth in Section 2.3(e) of this Appendix. 

          “Depository” means
The Depository Trust Company, its nominees and their
respective successors. 

          “Distribution
Compliance Period”, with respect to any Securities, means
the period of 40 consecutive days beginning on and including the later of (i)
the day on which such Securities are first offered to Persons other than
distributors (as defined in Regulation S under the Securities Act) in reliance
on Regulation S and (ii) the issue date with respect to such Securities. 

          “Exchange
Securities” means (1) the Securities issued pursuant to the
Indenture in connection with a Registered Exchange Offer pursuant to a
Registration Rights Agreement and (2) Additional Securities, if any, issued
pursuant to a registration statement filed with the SEC under the Securities
Act. 

          “IAI” means
an institutional “accredited investor”, as defined in Rule
501(a)(1), (2), (3) and (7) of Regulation D under the Securities Act. 

          “Initial
Purchasers” means (1) with respect to the Initial Securities
issued on the Issue Date, the Persons purchasing such Initial Securities under
the related purchase agreement and (2) with respect to each issuance of
Additional Securities, the Persons purchasing such Additional Securities under
the related purchase agreement. 

          “Initial
Securities” means (1) Securities, issued in a transaction
exempt from the registration requirements of the Securities Act, and (2)
Additional Securities, if any, issued in a transaction exempt from the
registration requirements of the Securities Act. 

          “QIB”
means a “qualified institutional buyer” as defined in Rule 144A. 

          “Registered
Exchange Offer” means the offer by the Company and the guarantors, if any,
pursuant to a Registration Rights Agreement, to certain Holders of Initial
Securities, to issue and deliver to such Holders, in exchange for the Initial
Securities, a like aggregate principal amount of Exchange Securities registered
under the Securities Act. 

APPENDIX A-10

          “Registration
Rights Agreement” means (1) with respect to each issuance of Securities
issued in a transaction exempt from the registration requirements of the
Securities Act, the registration rights agreement, if any, among the Company
and the Initial Purchasers of such Securities and (2) with respect to each
issuance of Additional Securities issued in a transaction exempt from the
registration requirements of the Securities Act, the registration rights agreement,
if any, among the Company and the Initial Purchasers of such Additional
Securities. 

          
“Rule 144A Securities” means all Securities offered and sold to QIBs in
reliance on Rule 144A.

          “Securities” means
the Initial Securities and the Exchange Securities, treated as a single class.

          “Securities
Act” means the Securities Act of 1933.

          
“Securities Custodian” means the custodian with respect to a Global
Security (as appointed by the Depository), or any successor Person thereto and
shall initially be the Trustee. 

          
“Shelf Registration Statement” means the registration statement issued
by the Company in connection with the offer and sale of Initial Securities
pursuant to a Registration Rights Agreement. 

          
“Transfer Restricted Securities” means Securities that bear or are
required to bear the legend relating to restrictions on transfer relating to
the Securities Act set forth in Section 2.3(e) of this Appendix. 

          1.2
Other Definitions. 

	
  

 	
  

 	
  

 
	
 Term

 	
  

 	
 Defined 

 in Section:

 
	

 

 	
  

 	

 

 
	
 “Agent
 Members”

 	
  

 	
 2.1(b)

 
	
 “Global
 Securities”

 	
  

 	
 2.1(a)

 
	
 “IAI Global
 Security”

 	
  

 	
 2.1(a)

 
	
 “Regulation
 S”

 	
  

 	
 2.1(a)

 
	
 “Regulation
 S Global Security”

 	
  

 	
 2.1(a)

 
	
 “Rule 144A”

 	
  

 	
 2.1(a)

 
	
 “Rule 144A
 Global Security”

 	
  

 	
 2.1(a)

 

          2. The Securities. 

          2.1
(a) Form and Dating. The Initial Securities will be offered and sold by
the Company to the Initial Purchasers. The Initial Securities will be resold
initially only to (i) QIBs in reliance on Rule 144A under the Securities Act (“Rule
144A”) and (ii) Persons other than U.S. Persons (as defined in Regulation
S) in reliance on Regulation S under the Securities Act (“Regulation S”).
Initial Securities may thereafter be transferred to, among others, QIBs, IAIs
and purchasers in reliance on Regulation S, subject to the restrictions on
transfer set forth herein. Initial Securities initially resold pursuant to Rule
144A shall be issued initially in the form of one or more permanent global
Securities in definitive, fully registered form (collectively, the “Rule
144A Global Security”) and Initial Securities initially resold pursuant to
Regulation S shall be issued initially in the form of one or more global
securities in fully registered form (collectively, the “Regulation S Global
Security”), in each case without interest coupons and with the global
securities legend and the applicable restricted securities legend, which shall
be deposited on behalf of the purchasers of the Initial Securities represented
thereby with the Securities Custodian and registered in the name of the
Depository or a nominee of the Depository, duly executed by the Company and
authenticated by the Trustee as provided in the Indenture. At such time
Securities are transferred to one or more IAIs, one or more global securities
in fully registered form (collectively, the “IAI Global Se-

APPENDIX A-2

curity”) without interest coupons and with the
global securities legend and the applicable restricted securities legend shall
also be issued and deposited with the Securities Custodian and registered in
the name of the Depository or a nominee of the Depository, duly executed by the
Company and authenticated by the Trustee as provided in the Indenture to
accommodate transfers of beneficial interests in the Initial Securities to IAIs
subsequent to the initial distribution. 

          Beneficial
interests in Regulation S Global Securities or IAI Global Securities may be
exchanged for interests in Rule 144A Global Securities if (1) such exchange
occurs in connection with a transfer of Securities in compliance with Rule 144A
and (2) the transferor of the beneficial interest in the Regulation S Global
Security (if such transfer is during the Distribution Compliance Period) or the
IAI Global Security, as applicable, first delivers to the Trustee a written
certificate to the effect that the beneficial interest in the Regulation S
Global Security or the IAI Global Security, as applicable, is being transferred
to a Person (a) who the transferor reasonably believes to be a QIB, (b)
purchasing for its own account or the account of a QIB in a transaction meeting
the requirements of Rule 144A and (c) in accordance with all applicable
securities laws of the States of the United States and other jurisdictions. 

          Beneficial
interests in Regulation S Global Securities and Rule 144A Global Securities may
be exchanged for an interest in IAI Global Securities if (1) such exchange
occurs in connection with a transfer of the securities in compliance with an
exemption under the Securities Act and (2) the transferor of the Regulation S
Global Security or Rule 144A Global Security, as applicable, first delivers to
the Trustee a written certificate (substantially in the form of Exhibit C to
the Indenture) to the effect that (A) the Regulation S Global Security or Rule
144A Global Security, as applicable, is being transferred (a) to an “accredited
investor” within the meaning of 501(a)(1),(2),(3) and (7) under the
Securities Act that is an institutional investor acquiring the securities for
its own account or for the account of such an institutional accredited
investor, in each case in a minimum principal amount of the securities of
$250,000, for investment purposes and not with a view to or for offer or sale
in connection with any distribution in violation of the Securities Act and (B)
in accordance with all applicable securities laws of the States of the United
States and other jurisdictions. 

          Beneficial
interests in a Rule 144A Global Security or an IAI Global Security may be
transferred to a Person who takes delivery in the form of an interest in a
Regulation S Global Security, whether before or after the expiration of the
Distribution Compliance Period, only if the transferor first delivers to the
Trustee a written certificate (in the form provided in the Indenture) to the
effect that such transfer is being made in accordance with Rule 903 or 904 of
Regulation S or Rule 144 (if applicable). 

          The
Rule 144A Global Security, the IAI Global Security and the Regulation S Global
Security are collectively referred to herein as “Global Securities”. The
aggregate principal amount of the Global Securities may from time to time be
increased or decreased by adjustments made on the records of the Trustee and
the Depository or its nominee as hereinafter provided. 

          
(b) Book-Entry Provisions. This Section 2.1(b) shall apply only to a
Global Security deposited with or on behalf of the Depository. 

          The
Company shall execute and the Trustee, upon receipt of a Company Order in the
form of an Officers’ Certificate, shall, in accordance with this Section
2.1(b), authenticate and deliver initially one or more Global Securities that
(a) shall be registered in the name of the Depository for such Global Security
or Global Securities or the nominee of such Depository and (b) shall be
delivered by the Trustee to such Depository or pursuant to such Depository’s
instructions or held by the Trustee as custodian for the Depository. 

APPENDIX A-3

          Members
of, or participants in, the Depository (“Agent Members”) shall have no
rights under the Indenture with respect to any Global Security held on their
behalf by the Depository or by the Trustee as the custodian of the Depository
or under such Global Security, and the Company, the Trustee and any agent of
the Company or the Trustee shall be entitled to treat the Depository as the
absolute owner of such Global Security for all purposes whatsoever.
Notwithstanding the foregoing, nothing herein shall prevent the Company, the
Trustee or any agent of the Company or the Trustee from giving effect to any
written certification, proxy or other authorization furnished by the Depository
or impair, as between the Depository and its Agent Members, the operation of
customary practices of such Depository governing the exercise of the rights of
a holder of a beneficial interest in any Global Security. 

          (c)
Definitive Securities. Except as provided in this Section 2.1 or
Section 2.3 or 2.4 of this Appendix, owners of beneficial interests in Global
Securities shall not be entitled to receive physical delivery of Definitive
Securities. 

          2.2
Authentication. The Trustee shall authenticate and deliver: (1) on the
Issue Date, the applicable series of Securities, (2) any Additional Securities
for an original issue in an aggregate principal amount specified in a Company
Order pursuant to Section 3.1 of the Indenture and (3) Exchange Securities for
issue only in a Registered Exchange Offer pursuant to a Registration Rights
Agreement, for a like principal amount of Initial Securities, in each case upon
a Company Order. Such order shall specify the amount of the Securities to be
authenticated and the date on which the original issue of Securities is to be
authenticated. 

          2.3
Transfer and Exchange. 

          (a)
Transfer and Exchange of Definitive Securities. When Definitive
Securities are presented to the Security Registrar with a request: 

	
  

 	
  

 	
  

 
	
  

 	
 (x)

 	
 to register
 the transfer of such Definitive Securities; or

 
	
  

 	
  

 	
  

 
	
  

 	
 (y)

 	
 to exchange
 such Definitive Securities for an equal principal amount of Definitive
 Securities of other authorized denominations, 

 

the Security
Registrar shall register the transfer or make the exchange as requested if its
reasonable requirements for such transaction are met; provided, however,
that the Definitive Securities surrendered for transfer or exchange: 

	
  

 	
  

 	
  

 
	
  

 	
           (i)
 shall be duly endorsed or accompanied by a written instrument of transfer in
 form reasonably satisfactory to the Company and the Security Registrar, duly
 executed by the Holder thereof or its attorney duly authorized in writing;
 and 

 
	
  

 	
  

 	
  

 
	
  

 	
           (ii)
 if such Definitive Securities are required to bear a restricted securities
 legend, are being transferred or exchanged pursuant to an effective
 registration statement under the Securities Act, pursuant to Section 2.3(b)
 of this Appendix or pursuant to clause (A), (B) or (C) below, and are
 accompanied by the following additional information and documents, as
 applicable: 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (A)
 if such Definitive Securities are being delivered to the Security Registrar
 by a Holder for registration in the name of such Holder, without transfer, a
 certification from such Holder to that effect; or 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (B)
 if such Definitive Securities are being transferred to the Company, a
 certification to that effect; or 

 

APPENDIX A-4

	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (C)
 if such Definitive Securities are being transferred (x) pursuant to an
 exemption from registration in accordance with Rule 144A, Regulation S or
 Rule 144 under the Securities Act or (y) in reliance upon another exemption
 from the requirements of the Securities Act: (1) a certification to that
 effect (in the form set forth on the reverse of the Security) and (2) if the
 Company so requests, an opinion of counsel or other evidence reasonably
 satisfactory to it as to the compliance with the restrictions set forth in
 the legend set forth in Section 2.3(e)(i) of this Appendix.

 

          (b)
Restrictions on Transfer of a Definitive Security for a Beneficial Interest
in a Global Security. A Definitive Security may not be exchanged for a
beneficial interest in a Rule 144A Global Security, an IAI Global Security or a
Regulation S Global Security except upon satisfaction of the requirements set
forth below. Upon receipt by the Trustee of a Definitive Security, duly
endorsed or accompanied by appropriate instruments of transfer, together with: 

	
  

 	
  

 	
  

 
	
  

 	
           
 (i) certification, in the form set forth on the reverse of the Security, that
 such Definitive Security is either (A) being transferred to a QIB in
 accordance with Rule 144A, (B) being transferred to an IAI or (C) being
 transferred after expiration of the Distribution Compliance Period by a
 Person who initially purchased such Security in reliance on Regulation S to a
 buyer who elects to hold its interest in such Security in the form of a
 beneficial interest in the Regulation S Global Security; and

 
	
  

 	
  

 	
  

 
	
  

 	
           
 (ii) written instructions directing the Trustee to make, or to direct the
 Securities Custodian to make, an adjustment on its books and records with
 respect to such Rule 144A Global Security (in the case of a transfer pursuant
 to clause (b)(i)(A)), IAI Global Security (in the case of a transfer pursuant
 to clause (b)(i)(B)) or Regulation S Global Security (in the case of a transfer
 pursuant to clause (b)(i)(C)) to reflect an increase in the aggregate
 principal amount of the Securities represented by the Rule 144A Global
 Security, IAI Global Security or Regulation S Global Security, as applicable,
 such instructions to contain information regarding the Depository account to
 be credited with such increase, then the Trustee shall cancel such Definitive
 Security and cause, or direct the Securities Custodian to cause, in
 accordance with the standing instructions and procedures existing between the
 Depository and the Securities Custodian, the aggregate principal amount of
 Securities represented by the Rule 144A Global Security, IAI Global Security
 or Regulation S Global Security, as applicable, to be increased by the
 aggregate principal amount of the Definitive Security to be exchanged and
 shall credit or cause to be credited to the account of the Person specified
 in such instructions a beneficial interest in the Rule 144A Global Security,
 IAI Global Security or Regulation S Global Security, as applicable, equal to
 the principal amount of the Definitive Security so canceled. If no Rule 144A
 Global Securities, IAI Global Securities or Regulation S Global Securities,
 as applicable, are then outstanding, the Company shall issue and the Trustee
 shall authenticate, upon a Company Order, a new Rule 144A Global Security,
 IAI Global Security or Regulation S Global Security, as applicable, in the
 appropriate principal amount.

 

          
(c) Transfer and Exchange of Global Securities. 

          
(i) The transfer and exchange of Global Securities or beneficial interests
therein shall be effected through the Depository, in accordance with the
Indenture (including applicable restrictions on transfer set forth herein, if
any) and the procedures of the Depository therefor. A transferor of a
beneficial interest in a Global Security shall deliver to the Security
Registrar a written order given in accordance with the Depository’s procedures
containing information regarding the participant account of the Depository to
be credited with a beneficial interest in the Global Security. The Security
Registrar shall, in accordance with such instructions instruct the Depository
to credit to the account of the Person specified in 

APPENDIX A-5

such
instructions a beneficial interest in the Global Security and to debit the
account of the Person making the transfer the beneficial interest in the Global
Security being transferred. 

          
(ii) If the proposed transfer is a transfer of a beneficial interest in one
Global Security to a beneficial interest in another Global Security, the
Security Registrar shall reflect on its books and records the date and an
increase in the principal amount of the Global Security to which such interest
is being transferred in an amount equal to the principal amount of the interest
to be so transferred, and the Security Registrar shall reflect on its books and
records the date and a corresponding decrease in the principal amount of the
Global Security from which such interest is being transferred. 

          
(iii) Notwithstanding any other provisions of this Appendix (other than the
provisions set forth in Section 2.4) of this Appendix, a Global Security may
not be transferred as a whole except by the Depository to a nominee of the
Depository or by a nominee of the Depository to the Depository or another
nominee of the Depository or by the Depository or any such nominee to a
successor Depository or a nominee of such successor Depository. 

          (iv)
In the event that a Global Security is exchanged for Definitive Securities
pursuant to Section 2.4 of this Appendix, prior to the consummation of a
Registered Exchange Offer or the effectiveness of a Shelf Registration
Statement with respect to such Securities, such Securities may be exchanged only
in accordance with such procedures as are substantially consistent with the
provisions of this Section 2.3 (including the certification requirements set
forth on the reverse of the Initial Securities intended to ensure that such
transfers comply with Rule 144A, Regulation S or another applicable exemption
under the Securities Act, as the case may be) and such other procedures as may
from time to time be adopted by the Company. 

          
(d) Restrictions on Transfer of Regulation S Global Securities. (i)
Prior to the expiration of the Distribution Compliance Period, beneficial
ownership interests in the Regulation S Global Security may only be sold,
pledged or transferred in accordance with the Applicable Procedures and only
(A) to the Company, (B) so long as such security is eligible for resale
pursuant to Rule 144A, to a person whom the selling holder reasonably believes
is a QIB that purchases for its own account or for the account of a QIB to whom
notice is given that the resale, pledge or transfer is being made in reliance
on Rule 144A, (C) to a non-U.S. Person in an offshore transaction in accordance
with Regulation S, (D) pursuant to an exemption from registration under the
Securities Act provided by Rule 144 (if applicable), (E) to an IAI purchasing
for its own account, or for the account of such an IAI, in a minimum principal
amount of Securities of $250,000 or (F) pursuant to an effective registration
statement under the Securities Act, in each case in accordance with any
applicable securities laws of any State of the United States. Prior to the
expiration of the Distribution Compliance Period, transfers by an owner of a
beneficial interest in the Regulation S Global Security to a transferee who
takes delivery of such interest through the Rule 144A Global Security or the
IAI Global Security shall be made only in accordance with Applicable Procedures
and upon receipt by the Trustee of a written certification from the transferor
of the beneficial interest in the form provided on the reverse of the Initial
Security to the effect that such transfer is being made to (1) a QIB within the
meaning of Rule 144A in a transaction meeting the requirements of Rule 144A or
(2) an IAI purchasing for its own account, or for the account of such an IAI,
in a minimum principal amount of the Securities of $250,000. Such written
certification shall no longer be required after the expiration of the
Distribution Compliance Period. 

          
(e) Legend. 

          
(i) Except as permitted by the following paragraphs (ii), (iii) and (iv), each
Security certificate evidencing the Global Securities (and all Securities
issued in exchange therefor or in substitution thereof) shall bear a legend in
substantially the following form: 

APPENDIX A-6

	
  

 	
  

 
	
  

 	
 THE SECURITY
 (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION
 EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT
 OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED
 HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF
 SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE
 SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING
 ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT
 PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE SECURITY EVIDENCED HEREBY
 AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) SUCH SECURITY MAY BE RESOLD,
 PLEDGED OR OTHERWISE TRANSFERRED ONLY (i) (a) TO A PERSON WHO IS A QUALIFIED
 INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A
 TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b) IN A TRANSACTION
 MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c) OUTSIDE
 THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE
 REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT, OR (d) IN ACCORDANCE WITH
 ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
 (AND BASED UPON AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS), (ii) TO
 THE COMPANY, OR (iii) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN
 EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF
 THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION, AND (B) THE HOLDER
 WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT
 OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN
 CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE
 EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE SECURITY EVIDENCED HEREBY. 

 

          Each
certificate evidencing a Security offered in reliance on Regulation S shall, in
addition to the foregoing, bear a legend in substantially the following form: 

	
  

 	
  

 
	
  

 	
 THIS
 SECURITY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION
 UNDER THE SECURITIES ACT, AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR
 TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN
 AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
 AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS
 GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT.

 

          Each
Definitive Security shall also bear the following additional legend: 

	
  

 	
  

 
	
  

 	
 IN
 CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE SECURITY
 REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH
 TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES
 WITH THE FOREGOING RESTRICTIONS. 

 

APPENDIX A-7

          
(ii) Upon any sale or transfer of a Transfer Restricted Security (including any
Transfer Restricted Security represented by a Global Security) pursuant to Rule
144 under the Securities Act, the Security Registrar shall permit the
transferee thereof to exchange such Transfer Restricted Security for a
certificated Security that does not bear the legend set forth above and rescind
any restriction on the transfer of such Transfer Restricted Security, if the
transferor thereof certifies in writing to the Security Registrar that such sale
or transfer was made in reliance on Rule 144 (such certification to be in the
form set forth on the reverse of the Security). 

          (iii)
After a transfer of any Initial Securities pursuant to and during the period of
the effectiveness of a Shelf Registration Statement with respect to such
Initial Securities, all requirements pertaining to legends on such Initial
Security will cease to apply, the requirements requiring any such Initial
Security issued to certain Holders be issued in global form will cease to
apply, and a certificated Initial Security or an Initial Security in global
form, in each case without restrictive transfer legends, will be available to
the transferee of the Holder of such Initial Securities upon exchange of such
transferring Holder’s certificated Initial Security or directions to transfer
such Holder’s interest in the Global Security, as applicable. 

          
(iv) Upon the occurrence of the Registered Exchange Offer in accordance with
the Registration Rights Agreement, the Issuer shall issue and, upon receipt of
a Company Order in accordance with Section 2.2 of this Appendix, the Trustee
shall authenticate, one or more Global Securities not bearing the restricted
securities legend in an aggregate principal amount equal to the principal
amount of the beneficial interests in the Global Securities that are Initial
Securities tendered for acceptance in accordance with the Registered Exchange
Offer and accepted for exchange in the Registered Exchange Offer. Concurrently
with the issuance of such Global Securities, the Security Registrar shall cause
the aggregate principal amount of the applicable Initial Securities to be
reduced accordingly, and the Security Registrar shall deliver to the Persons
designated by the Holders of the Initial Securities so accepted Global
Securities not bearing the restricted securities legend in the appropriate
principal amount. Upon the consummation of a Registered Exchange Offer with
respect to the Initial Securities, all requirements pertaining to such Initial
Securities that Initial Securities issued to certain Holders be issued in
global form will still apply with respect to Holders of such Initial Securities
that do not exchange their Initial Securities, and Exchange Securities in
certificated or global form, in each case without the restricted securities
legend set forth in Exhibit 1 hereto will be available to Holders that exchange
such Initial Securities in such Registered Exchange Offer. 

          
(f) Cancellation or Adjustment of Global Security. At such time as all
beneficial interests in a Global Security have either been exchanged for
Definitive Securities, redeemed, purchased or canceled, such Global Security
shall be returned to the Depository for cancellation or retained and canceled
by the Trustee. At any time prior to such cancellation, if any beneficial
interest in a Global Security is exchanged for Definitive Securities, redeemed,
purchased or canceled, the principal amount of Securities represented by such
Global Security shall be reduced and an adjustment shall be made on the books
and records of the Trustee (if it is then the Securities Custodian for such
Global Security) with respect to such Global Security, by the Trustee or the
Securities Custodian, to reflect such reduction. 

          
(g) No Obligation of the Trustee. 

          
(i) The Trustee shall have no responsibility or obligation to any beneficial
owner of a Global Security, a member of, or a participant in the Depository or
other Person with respect to the accuracy of the records of the Depository or
its nominee or of any participant or member thereof, with respect to any
ownership interest in the Securities or with respect to the delivery to any
participant, member, beneficial owner or other Person (other than the Depository)
of any notice (including any notice of redemption) or the payment of any
amount, under or with respect to such Securities. All notices and
communications to 

APPENDIX A-8

be given to
the Holders and all payments to be made to Holders under the Securities shall
be given or made only to or upon the order of the registered Holders (which
shall be the Depository or its nominee in the case of a Global Security). The
rights of beneficial owners in any Global Security shall be exercised only
through the Depository subject to the applicable rules and procedures of the
Depository. The Trustee may rely and shall be fully protected in relying upon
information furnished by the Depository with respect to its members,
participants and any beneficial owners. 

          (ii)
The Trustee shall have no obligation or duty to monitor, determine or
inquire as to compliance with any restrictions on transfer imposed under the
Indenture or under applicable law with respect to any transfer of any interest
in any Security (including any transfers between or among Depository
participants, members or beneficial owners in any Global Security) other than
to require delivery of such certificates and other documentation or evidence as
are expressly required by, and to do so if and when expressly required by, the
terms of the Indenture, and to examine the same to determine substantial
compliance as to form with the express requirements hereof. 

          2.4
Definitive Securities. 

          (a)
A Global Security deposited with the Depository or with the Trustee as
Securities Custodian for the Depository pursuant to Section 2.1 of this
Appendix shall be transferred to the beneficial owners thereof in the form of
Definitive Securities in an aggregate principal amount equal to the principal
amount of such Global Security, in exchange for such Global Security, only if
such transfer complies with Section 2.3 of this Appendix and (i) the Depository
notifies the Company that it is unwilling or unable to continue as Depository
for such Global Security and the Depository fails to appoint a successor
depository or if at any time such Depository ceases to be a “clearing agency”
registered under the Exchange Act and, in either case, a successor depository
is not appointed by the Company within 90 days of such notice, or (ii) an Event
of Default has occurred and is continuing or (iii) the Company, in its sole
discretion, notifies the Trustee in writing that it elects to cause the
issuance of Definitive Securities under the Indenture. 

          (b)
Any Global Security that is transferable to the beneficial owners thereof
pursuant to this Section 2.4 shall be surrendered by the Depository to the
Trustee located at its Corporate Trust Office, to be so transferred, in whole
or from time to time in part, without charge, and the Trustee shall
authenticate and deliver, upon such transfer of each portion of such Global
Security, an equal aggregate principal amount of Definitive Securities of
authorized denominations. Any portion of a Global Security transferred pursuant
to this Section 2.4 shall be executed, authenticated and delivered only in
denominations of $2,000 principal amount and any integral multiples of $1,000
in excess thereof and registered in such names as the Depository shall direct.
Any Definitive Security delivered in exchange for an interest in the Transfer
Restricted Security shall, except as otherwise provided by Section 2.3(e) of
this Appendix, bear the applicable restricted securities legend and definitive
securities legend set forth in Section 2.3(e) of this Appendix. 

          (c)
Subject to the provisions of Section 2.4(b) of this Appendix, the
registered Holder of a Global Security shall be entitled to grant proxies and
otherwise authorize any Person, including Agent Members and Persons that may
hold interests through Agent Members, to take any action which a Holder is
entitled to take under the Indenture or the Securities. 

          (d)
In the event of the occurrence of one of the events specified in Section
2.4(a) of this Appendix, the Company shall promptly make available to the
Trustee a reasonable supply of Definitive Securities in definitive, fully
registered form without interest coupons. In the event that such Definitive
Securities are not issued, the Company expressly acknowledges, with respect to
the right of any Holder to pursue a remedy pursuant to Section 5.7 of the
Indenture, the right of any beneficial owner of Securities 

APPENDIX A-9

to pursue such
remedy with respect to the portion of the Global Security that represents such
beneficial owner’s Securities as if such Definitive Securities had been issued.

APPENDIX A-10Exhibit 4.2

5.250% Series C Second-Priority Secured Notes due 2014 

6.625% Series C Second-Priority Secured Notes due 2018

CIT GROUP INC., 

as Issuer,

THE GUARANTORS NAMED HEREIN, as Guarantors

and

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Trustee, Series C Parent Collateral Agent and Series C Subsidiary Collateral
Agent

	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
  

 	
  

 
	
 FIRST SUPPLEMENTAL INDENTURE

 
	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 

Dated as of March 30, 2011

TABLE OF CONTENTS

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 1

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 DEFINITIONS

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 1.1

 	
  

 	
 Relation to
 Base Indenture

 	
  

 	
 1

 
	
 Section 1.2

 	
  

 	
 Definition
 of Terms

 	
  

 	
 2

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 2

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 GENERAL TERMS AND CONDITIONS OF THE NOTES

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 2.1

 	
  

 	
 Designation
 and Principal Amount

 	
  

 	
 10

 
	
 Section 2.2

 	
  

 	
 Maturity

 	
  

 	
 10

 
	
 Section 2.3

 	
  

 	
 Form,
 Payment and Appointment

 	
  

 	
 10

 
	
 Section 2.4

 	
  

 	
 Global Notes

 	
  

 	
 11

 
	
 Section 2.5

 	
  

 	
 Interest

 	
  

 	
 11

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 3

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 REDEMPTION AND REPURCHASE OF THE NOTES

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 3.1

 	
  

 	
 No Sinking
 Fund or Repayment at Option of the Holder

 	
  

 	
 12

 
	
 Section 3.2

 	
  

 	
 Optional
 Redemption

 	
  

 	
 12

 
	
 Section 3.3

 	
  

 	
 Offer to
 Repurchase Upon Change of Control Triggering Event

 	
  

 	
 13

 
	
 Section 3.4

 	
  

 	
 Effect of
 Redemption

 	
  

 	
 14

 
	
 Section 3.5

 	
  

 	
 Redemption
 Procedures

 	
  

 	
 14

 
	
 Section 3.6

 	
  

 	
 No Other
 Redemption

 	
  

 	
 15

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 4

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 FORM OF NOTE

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 4.1

 	
  

 	
 Form of Note

 	
  

 	
 15

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 5

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 [RESERVED]

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 6

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 AMENDMENT, SUPPLEMENT AND WAIVER

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 6.1

 	
  

 	
 General

 	
  

 	
 15

 
	
 Section 6.2

 	
  

 	
 Consent of
 Holders

 	
  

 	
 16

 
	
 Section 6.3

 	
  

 	
 Without
 Consent of Holders

 	
  

 	
 17

 

-i-

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 6.4

 	
  

 	
 Form of
 Consent

 	
  

 	
 18

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 7

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 COVENANTS

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 7.1

 	
  

 	
 Liens

 	
  

 	
 18

 
	
 Section 7.2

 	
  

 	
 Merger,
 Consolidation or Sale of All or Substantially All Assets

 	
  

 	
 21

 
	
 Section 7.3

 	
  

 	
 Reports

 	
  

 	
 22

 
	
 Section 7.4

 	
  

 	
 Additional
 Note Guarantees and Collateral

 	
  

 	
 23

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 8

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 EVENTS OF DEFAULT

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 8.1

 	
  

 	
 Events of
 Default

 	
  

 	
 23

 
	
 Section 8.2

 	
  

 	
 Effect of
 Event of Default

 	
  

 	
 25

 
	
 Section 8.3

 	
  

 	
 Company
 Statement as to Compliance; Notice of Certain Defaults

 	
  

 	
 26

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 9

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 GUARANTEE OF NOTES

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 9.1

 	
  

 	
 Guarantee

 	
  

 	
 27

 
	
 Section 9.2

 	
  

 	
 Limitation
 on Guarantor Liability

 	
  

 	
 28

 
	
 Section 9.3

 	
  

 	
 Guarantors
 May Consolidate, etc., on Certain Terms

 	
  

 	
 29

 
	
 Section 9.4

 	
  

 	
 Releases

 	
  

 	
 29

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 10

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 COLLATERAL

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 10.1

 	
  

 	
 Intercreditor
 Agreements

 	
  

 	
 30

 
	
 Section 10.2

 	
  

 	
 Security
 Documents

 	
  

 	
 30

 
	
 Section 10.3

 	
  

 	
 Release of
 Liens in Respect of Notes

 	
  

 	
 30

 
	
 Section 10.4

 	
  

 	
 Compliance
 with Trust Indenture Act

 	
  

 	
 30

 
	
 Section 10.5

 	
  

 	
 Notes
 Collateral Agent

 	
  

 	
 31

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 ARTICLE 11

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 SATISFACTION AND DISCHARGE; DEFEASANCE 

 AND COVENANT DEFEASANCE

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 11.1

 	
  

 	
 Satisfaction
 and Discharge

 	
  

 	
 36

 
	
 Section 11.2

 	
  

 	
 Legal
 Defeasance and Covenant Defeasance

 	
  

 	
 37

 
	
  

 	
  

 	
  

 	
  

 	
  

 

-ii-

ARTICLE 12

MISCELLANEOUS

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Section 12.1

 	
  

 	
 Ratification
 of Indenture

 	
  

 	
 39

 
	
 Section 12.2

 	
  

 	
 No Personal
 Liability of Directors, Officers, Employees and Stockholders

 	
  

 	
 39

 
	
 Section 12.3

 	
  

 	
 Subordination

 	
  

 	
 39

 
	
 Section 12.4

 	
  

 	
 Trustee Not
 Responsible for Recitals

 	
  

 	
 40

 
	
 Section 12.5

 	
  

 	
 New York Law
 To Govern

 	
  

 	
 40

 
	
 Section 12.6

 	
  

 	
 Separability

 	
  

 	
 40

 
	
 Section 12.7

 	
  

 	
 Counterparts

 	
  

 	
 40

 
	
 Section 12.8

 	
  

 	
 Parent
 Pledge Collateral Agent

 	
  

 	
 40

 

-iii-

          THIS
FIRST SUPPLEMENTAL INDENTURE, dated as of March 30, 2011 (the “Supplemental Indenture”), between CIT Group
Inc., a corporation duly organized and existing under the laws of the State of
Delaware (the “Company”), the
guarantors named herein and Deutsche Bank Trust Company Americas, as trustee
(the “Trustee”), Series C Parent
Collateral Agent and Series C Subsidiary Collateral Agent, amending and
supplementing the Indenture, dated as of March 30, 2011 between the Company and
the Trustee, governing the issuance of debt securities (the “Base Indenture”). The Base Indenture, as
amended and supplemented by the Supplemental Indenture, shall be referred to
herein as the “Indenture”. 

RECITALS

          WHEREAS,
the Company executed and delivered the Base Indenture to the Trustee to provide
for the future issuance of the Company’s debt securities or other evidence of
Indebtedness, to be issued from time to time in one or more series as might be
determined by the Company under the Base Indenture; 

          WHEREAS,
Section 9.1(6) of the Base Indenture provides for the Company and the Trustee
to enter into an indenture supplemental to the Base Indenture to establish the
forms or terms of Securities of any series as permitted by Section 2.1 and Section
3.1 of the Base Indenture; 

          WHEREAS,
pursuant to Section 3.1 of the Base Indenture, the Company wishes to provide
for the issuance of two new series of Securities to be known as its 5.250%
Series C Second-Priority Secured Notes due 2014 (the “2014 Notes”) and its 6.625% Series C
Second-Priority Secured Notes due 2018 (the “2018
Notes”) and the form, terms, provisions and conditions thereof
(including the guarantee thereof) to be set forth as provided in this
Supplemental Indenture; and 

          WHEREAS,
the Company has requested that the Trustee execute and deliver this
Supplemental Indenture, and all requirements necessary to make this
Supplemental Indenture a valid, binding and enforceable instrument in accordance
with its terms, and to make the Notes, when executed by the Company and
authenticated and delivered by the Trustee, the valid, binding and enforceable
Obligations of the Company, have been done and performed, and the execution and
delivery of this Supplemental Indenture has been duly authorized in all
respects. 

          NOW,
THEREFORE, in consideration of the covenants and agreements set forth herein
and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE 1

DEFINITIONS

          Section
1.1 Relation to Base Indenture. This Supplemental Indenture constitutes
an integral part of the Base Indenture, and supplements and amends the Base
Indenture solely with respect to the Notes. 

          Section
1.2 Definition of Terms. For all purposes of this Supplemental
Indenture: 

	
  

 	
  

 
	
  

 	
           (a)
 a term not defined herein that is defined in the Base Indenture has the same
 meaning when used in this Supplemental Indenture; 

 
	
  

 	
  

 
	
  

 	
           (b)
 the definition of any term in this Supplemental Indenture that is also
 defined in the Base Indenture shall supersede the definition of such term in
 the Base Indenture; 

 
	
  

 	
  

 
	
  

 	
           (c)
 a term defined anywhere in this Supplemental Indenture has the same meaning
 throughout; 

 
	
  

 	
  

 
	
  

 	
           (d)
 the singular includes the plural and vice versa and use of any gender
 includes each other gender; 

 
	
  

 	
  

 
	
  

 	
           (e)
 headings are for convenience of reference only and do not affect
 interpretation; and 

 
	
  

 	
  

 
	
  

 	
           (f)
 the following terms have the meanings given to them in this Section 1.2: 

 

          “2014 Notes” has the meaning set forth in
the recitals hereto. 

          “2018 Notes” has the meaning set forth in
the recitals hereto. 

          “Additional Interest” has the meaning set
forth in the Registration Rights Agreement.

          “Additional Notes” means additional Notes
(other than the Initial Notes) issued under this Indenture in accordance with
Section 3.12 of the Base Indenture hereof, as part of the same series as the
Initial Notes. 

          “Alternate Offer” has the meaning assigned
to that term set forth in Section 3.3. 

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

          “Beneficial Owner” has the meaning assigned
to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that
in calculating the beneficial ownership of any particular “person” (as that
term is used in Section 13(d)(3) of the Exchange Act), such “person” shall be
deemed to have beneficial ownership of all securities that such “person” has
the right to acquire by conversion or exercise of other securities, whether
such right is currently exercisable or is exercisable only after the passage of
time. The terms “Beneficially Owns”
and “Beneficially Owned” have a
corresponding meaning. 

          “Cash” means money, currency or a credit
balance in any demand or deposit account. 

-2-

          “Change of Control” means the occurrence of any of the
following: 

	
  

 	
  

 	
  

 
	
  

 	
           (1)
 any “person” or “group” (as such terms are used in Sections 13(d) and 14(d)
 of the Exchange Act) is or becomes the Beneficial Owner of more than 50% of
 the total outstanding Voting Stock (measured by voting power rather than the
 number of shares) of the Company, other than in any such transaction where: 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (A)
 the Voting Stock of the Company outstanding immediately prior to such
 transaction is changed into or exchanged for Voting Stock of another Person
 (the “Permitted Parent”)
 constituting a majority of the outstanding Voting Stock (measured by voting
 power rather than the number of shares) of the Permitted Parent (immediately
 after giving effect to such issuance); and 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (B)
 immediately after such transaction, no “person” or “group” (as such terms are
 used in Sections 13(d) and 14(d) of the Exchange Act) is the Beneficial Owner
 of more than 50% of the total outstanding Voting Stock (measured by voting
 power rather than the number of shares) of the Permitted Parent; or 

 
	
  

 	
  

 	
  

 
	
  

 	
           (2)
 the Company sells, assigns, conveys, transfers, leases or otherwise disposes
 of all or substantially all of its assets to any Person, other than any such
 transaction where: 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (A)
 the Voting Stock of the Company outstanding immediately prior to such
 transaction is changed into or exchanged for Voting Stock of the transferee
 Person (the “Transferee”)
 constituting a majority of the outstanding shares of the outstanding Voting
 Stock (measured by voting power rather than the number of shares) of the
 Transferee (immediately after giving effect to such issuance); and 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (B)
 immediately after such transaction, no “person” or “group” (as such terms are
 used in Sections 13(d) and 14(d) of the Exchange Act), is the Beneficial
 Owner of more than 50% of the total outstanding Voting Stock (measured by
 voting power rather than the number of shares) of the Transferee. 

 

Following any
transaction described in clause (1)(A), the Permitted Parent shall be
substituted for the Company in this definition and the definition of “Trigger
Period”, and following any transaction described in clause (2)(A), the
Transferee shall be substituted for the Company in this definition and the
definition of “Trigger Period”. 

          “Change of Control Offer” has the meaning
assigned to that term in Section 3.3 hereof. 

          “Change of Control Payment” has the meaning
assigned to that term in Section 3.3 hereof. 

          “Change of Control Payment Date” has the
meaning assigned to that term in Section 3.3 hereof. 

-3-

          “Change of Control Triggering Event” means
the occurrence of both (i) a Change of Control and (ii) a Ratings Downgrade
Event. 

          “CIT Leasing Support Agreements” means those
support agreements identified on Schedule I hereto. 

          “Collateral” means, collectively, all of the
property (including Capital Stock) in which Liens are purported to be granted
pursuant to the Security Documents as security for the Note Obligations. 

          “Commission” the United States Securities
and Exchange Commission. 

          “Comparable Treasury Issue” means, with
respect to any series of the Notes, the United States Treasury security
selected by the Independent Investment Banker as having a maturity comparable
to the remaining term of the Notes of such series to be redeemed that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Notes of such series to be redeemed; provided, however, that if no maturity is
within three months before or after the maturity date for such Notes of such
series, yields for the two published maturities most closely corresponding to
such United States Treasury security will be determined and the treasury rate
will be interpolated or extrapolated from those yields on a straight line basis
rounding to the nearest month. 

          “Comparable Treasury Price” means, with
respect to any redemption date for Notes of any series, (a) the average of the
Reference Treasury Dealer Quotations for the redemption date for Notes of such
series, after excluding the highest and lowest Reference Treasury Dealer
Quotations, or (b) if the Independent Investment Banker obtains fewer than four
Reference Treasury Dealer Quotations, the average of all such quotations. 

          “Coupon Rates” has the meaning set forth in
Section 2.5(a) hereof. 

          “Covenant Defeasance” has the meaning set
forth in Section 11.2(b) hereof. 

          “Credit Agreement” means that certain Third
Amended and Restated Credit and Guaranty Agreement, dated as of August 11,
2010, among the Company, certain Subsidiaries of the Company, the lenders party
thereto, and Bank of America, N.A., as administrative agent and collateral
agent, as amended, supplemented, modified, renewed, refunded, replaced or
refinanced, in whole or in part, from time to time, 

          “Custodian” means, with respect to any
Global Note, the Trustee, as custodian for DTC with respect to such Global
Note. 

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

          “DTC” has the meaning set forth in Section
2.3(d) hereof. 

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

-4-

          “First Lien Agent” means the First Lien
Agent under the Senior Intercreditor Agreement. 

          “First Lien Obligations” means the “First
Lien Obligations” and the “Long-Dated Bond Obligations”, each as defined in the
Senior Intercreditor Agreement. 

          “Global Notes” has the meaning set forth in
Section 2.4 hereof. 

          “Guarantee” means, with respect to any Person,
any Obligation, contingent or otherwise, of such Person guaranteeing or having
the economic effect of guaranteeing any Indebtedness or other Obligation of any
other Person in any manner, whether directly or indirectly, and including any
Obligation of the guarantor, direct or indirect, that is (1) an Obligation of
such Person the primary purpose or intent of which is to provide assurance to
an obligee that the Obligation of the obligor thereof shall be paid or
discharged, or any agreement relating thereto shall be complied with, or the
holders thereof shall be protected (in whole or in part) against loss in
respect thereof; or (2) a liability of such Person for an Obligation of another
through any agreement (contingent or otherwise) (a) to purchase, repurchase or
otherwise acquire such Obligation or any security therefor, or to provide funds
for the payment or discharge of such Obligation (whether in the form of loans,
advances, stock purchases, capital contributions or otherwise) or (b) to
maintain the solvency or any balance sheet item, level of income or financial
condition of another if, in the case of any agreement described under
subclauses (a) or (b) of this clause (2), the primary purpose or intent thereof
is as described in clause (1) above. The verb “Guarantee” shall have a
correlative meaning. 

          “Guarantor” means any Subsidiary of the
Company that has delivered a Note Guarantee and its successors and assigns, in
each case, until the Note Guarantee of such Person has been released in accordance
with the provisions of this Indenture. 

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

          “Independent Investment Banker” means
Merrill Lynch, Pierce, Fenner & Smith Incorporated (and its respective
successors) or, if any such firm is not willing and able to select the
applicable Comparable Treasury Issue, an independent investment banking
institution of national standing appointed by the Company and reasonably
acceptable to the Trustee. 

          “Initial Notes” means, collectively,
$1,300,000,000 aggregate principal amount of the Company’s 2014 Notes and
$700,000,000 aggregate principal amount of the Company’s 2018 Notes, in each
case issued on the Issue Date. 

          “Intercreditor Agreement” means, as the
context may require, the Senior Intercreditor Agreement, the Junior
Intercreditor Agreement or both such agreements. 

          “Interest Payment Date” has the meaning set
forth in Section 2.5(a) hereof. 

          “Investment Grade Rating” means a rating
from Moody’s of Baa3 or higher (or its equivalent under any successor rating
category of Moody’s) and a rating from S&P of BBB- or higher (or its
equivalent under any successor rating category of S&P), in each case with a
stable 

-5-

outlook, and
the equivalent investment grade credit rating from any replacement rating
agency or rating agencies selected by the Company under the circumstances
permitting the Company to select a replacement agency and in the manner for
selecting a replacement agency, in each case as set forth in the definition of
“Rating Agency.” 

          “Issue Date” means the date of this
Supplemental Indenture. 

          “Junior Intercreditor Agreement” means the
Junior Intercreditor Agreement, dated as of December 10, 2009, among Deutsche
Bank Trust Company Americas, as Series A Parent Collateral Agent and Series A
Subsidiary Collateral Agent, Company, the Guarantors and certain other parties,
including, pursuant to a joinder agreement dated the date hereof, the Trustee
and the Notes Collateral Agent, as amended or supplemented from time to time. 

          “Legal Defeasance” has the meaning set forth
in Section 11.2(a) hereof. 

          “Lien” has the meaning set forth in Section
7.1 hereof. 

          “Long-Dated Senior Notes Indenture” means
the indenture, dated as of January 20, 2006, between the Company and The Bank
of New York (as successor to JPMorgan Chase Bank, N.A.), as trustee (or its
successor) (as amended, amended and restated, supplemented or modified from
time to time). 

          “Long-Dated Senior Notes Obligations” means
all obligations of the Company in respect of the payment of principal of, and
interest on, any note, bond, debenture, or other evidence of Indebtedness, as
the case may be, issued pursuant to the Long-Dated Senior Notes Indenture and
outstanding as of the Issue Date. 

          “Maturity Date” means April 1, 2014 for the
2014 Notes and April 1, 2018 for the 2018 Notes. 

          “Moody’s” means Moody’s Investors Service,
Inc. 

          “Note Documents” means, collectively, the
Notes, the Indenture, the Note Guarantees, the Security Documents, the
Registration Rights Agreement and all other certificates, documents,
instruments or agreements executed and delivered by an Obligor for the benefit
of any Holder, the Trustee or the Notes Collateral Agent in connection
herewith. 

          “Note Guarantee” means the Guarantee by each
Guarantor of the Note Obligations, executed pursuant to the provisions of this
Indenture. 

          “Note Obligations” means all Obligations of
the Company and each other Obligor under the Note Documents. 

          “Notes” mean, collectively, the 2014 Notes
and the 2018 Notes. The term “Note” refers to either of the foregoing. 

          “Notes Collateral Agent” means Deutsche Bank
Trust Company Americas, in its capacity as Series C Parent Collateral Agent and
Series C Subsidiary Collateral Agent, until a 

-6-

successor
replaces it in accordance with the applicable provisions of this Indenture and
thereafter means the successor serving hereunder. 

          “Obligations” means any principal, interest
(including interest which, but for the filing of a petition in bankruptcy with
respect to an obligor, would have accrued on any obligation, whether or not a
claim is allowed against such obligor for such interest in the related
proceeding), penalties, fees, indemnifications, reimbursements, damages and
other liabilities payable under the documentation governing any Indebtedness. 

          “Obligor” means the Company, any Guarantor
or any “Foreign Grantor” as defined in the Security Agreement. 

          “Offering Memorandum” means that certain
offering memorandum dated March 23, 2011, relating to the initial offering of
the Notes. 

          “Parent” has the meaning set forth in
Section 7.3(c) hereof. 

          “Pari Passu Notes” means all notes issued
under the Base Indenture that constitute Second Lien Obligations. 

          “Paying Agent” means the Trustee or any
other Person authorized by the Company to calculate and pay the principal of,
or any interest on, any Security or any Coupon on behalf of the Company. 

          “Payment Default” has the meaning set forth
in Section 8.1(a)(v)(1) hereof. 

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

          “Rate Management Transaction” means any
transaction (including an agreement with respect thereto) now existing or
hereafter entered into by the Company which is a rate swap, basis swap, total
return swap, forward rate transaction, commodity swap, commodity option, equity
or equity index swap, equity or equity index option, bond option, interest rate
option, foreign exchange transaction, cap transaction, floor transaction,
collar transaction, forward transaction, currency swap transaction,
cross-currency rate swap transaction, currency option or any other similar
transaction (including any option with respect to any of these transactions) or
any combination thereof, whether linked to one or more interest rates, foreign
currencies, commodity prices, equity prices or other financial measures, or the
purchase of credit default swaps. 

          “Rating Agency” means each of Moody’s and
S&P; provided, that if Moody’s or S&P ceases to rate the Notes or fails
to make a rating of the Notes available, the Company shall use commercially
reasonable efforts to appoint another “nationally recognized statistical rating
organization” within the meaning of Section 3(a)(62) of the Exchange Act as a
replacement for such Rating Agency and following such appointment such
replacement rating agency shall be substituted in this definition for the
rating agency that ceased to rate the Notes or failed to make a 

-7-

rating of the
Notes available; provided that the Company shall give notice of such
appointment to the Trustee. 

          “Ratings Downgrade Event” means, on any date
during the Trigger Period, the Notes being downgraded by at least one modifier
(a modifier being plus, neutral or minus for S&P, 1, 2 or 3 for Moody’s and
similar modifier by any other Rating Agency) by one of the Rating Agencies from
the rating on the Notes by such Rating Agency on the date prior to the first day
of the Trigger Period; provided
that no Ratings Downgrade Event shall be deemed to occur if either (i) the
rating on the Notes by each Rating Agency that downgraded its rating is an
Investment Grade Rating after such downgrade or (ii) in respect of a particular
Change of Control, if the Rating Agency or Agencies (as applicable) that
downgraded the Notes announce or confirm or inform the Trustee in writing that
the reduction was not the result, in whole or in part, of any event or
circumstance comprised of or arising as a result of, or in respect of, the
applicable Change of Control. 

          “Reference Treasury Dealers” means any four
of Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital
Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P.
Morgan Securities LLC and, in each case, their respective successors; provided,
however, that if any of the foregoing shall resign as a Reference Treasury
Dealer or cease to be a primary U.S. government securities dealer, the Company
will substitute therefor another primary U.S. government securities dealer. 

          “Reference Treasury Dealer Quotations”
means, with respect to each Reference Treasury Dealer and any redemption date
for the Notes, an average, as determined by the Independent Investment Banker,
of the bid and asked prices for the Comparable Treasury Issue for the Notes to
be redeemed (expressed in each case as a percentage of its principal amount)
quoted in writing to the Independent Investment Banker by such Reference
Treasury Dealer at 5:00 p.m., New York City time, on the third business day
preceding such redemption date. 

          “Registration Rights Agreement” means (i)
the Registration Rights Agreement dated as of the Issue Date among the Company,
the Guarantors and Merrill Lynch, Pierce, Fenner & Smith Incorporated,
Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities
Inc. and J.P. Morgan Securities LLC, as representatives for the initial
purchasers and (ii) any other registration rights agreement entered into in
connection with an issuance of Additional Notes in a private offering after the
Issue Date. 

          “Regular Record Date” means, with respect to
an April 1 Interest Payment Date, the immediately preceding March 15 and with
respect to an October 1 Interest Payment Date, the immediately preceding
September 15. 

          “S&P” means Standard & Poor’s
Ratings Group, a division of The McGraw Hill Corporation. 

          “Second Lien Obligations” means the
Obligations that are secured by a Lien on the Collateral that ranks junior to
the Lien securing the First Lien Obligations pursuant to the Senior
Intercreditor Agreement and pari passu with the Lien securing the Notes
Obligations pursuant to the Junior Intercreditor Agreement. 

-8-

          “Security Agreement” means the Series C
Collateral Agreement dated as of the Issue Date among the Company, the
Guarantors and the Notes Collateral Agent relating to the Collateral for the
Notes. 

          “Security Documents” means the Security Agreement and each
other security document or pledge agreement executed by the Company or any
Guarantor and delivered in accordance with applicable local or foreign law to
grant a valid, perfected security interest in any property as collateral for
the Note Obligations, in each case, as amended, restated, supplemented or
otherwise modified from time to time. 

          “Senior Intercreditor Agreement” means the
Senior Intercreditor and Subordination Agreement, dated as of December 10,
2009, among Bank of America, N.A., as First Lien Credit Facility Representative
and First Lien Agent, Deutsche Bank Trust Company Americas, as Series A
Representative and Series A Collateral Agent, the Company, the Guarantors and
certain other parties, including, pursuant to a joinder agreement dated the
date hereof, the Trustee and the Notes Collateral Agent, as amended or
supplemented from time to time. 

          “Series A Notes” means the 7.0% Series A
Second-Priority Secured Notes due 2013, the 7.0% Series A Second-Priority
Secured Notes due 2014, the 7.0% Series A Second-Priority Secured Notes due
2015, the 7.0% Series A Second-Priority Secured Notes due 2016 and the 7.0%
Series A Second-Priority Secured Notes due 2017 of the Company issued under the
Series A Notes Indenture. 

          “Series A Notes Indenture” means the
Indenture, dated as of December 10, 2009, between the Company and Deutsche Bank
Trust Company Americas, as trustee, as supplemented by the First Supplemental
Indenture, dated as of December 10, 2009, among the Company, the guarantors
party thereto, and Deutsche Bank Trust Company Americas, as trustee and
collateral agent, and as further amended or supplemented from time to time. 

          “Series C Parent Collateral Agent” has the
meaning assigned to such term in the Security Agreement. 

          “Series C Subsidiary Collateral Agent” has
the meaning assigned to such term in the Security Agreement. 

          “Significant Subsidiary” means any
Subsidiary of the Company that is both a Guarantor and would be a “significant
subsidiary” as defined in Regulation S-X promulgated pursuant to the Securities
Act as such regulation is in effect on the Issue Date. 

          “Treasury Yield” means, with respect to any
redemption date, (a) the yield, under the heading which represents the average
for the immediately preceding week, appearing in the most recently published
statistical release designated “H.15(519)” or any successor publication which
is published weekly by the Board of Governors of the Federal Reserve System and
which establishes yields on actively traded United States Treasury securities
adjusted to constant maturity under the caption “Treasury Constant Maturities,”
for the maturity corresponding to the Comparable Treasury Issue; or (b) if the
release (or any successor release) is not published during the week preceding
the calculation date or does not contain these yields, the rate per 

-9-

annum equal to
the semi—annual equivalent yield to maturity (computed as of the third business
day immediately preceding such redemption date) of the Comparable Treasury
Issue, assuming a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the applicable Comparable Treasury
Price for such redemption date. 

          “Trigger Period” means the period commencing
1 day prior to the first public announcement by the Company of an arrangement
that could result in a Change of Control and ending 60 days following
consummation of the Change of Control (which period will be extended following
consummation of a Change of Control for so long as the rating of the Notes is
under announced consideration for possible downgrade by any of the Rating
Agencies as the result, in whole or in part, of any event or circumstance comprised
of or arising as a result of, or in respect of, the applicable Change of
Control). 

          “United States” or “U.S.” means the United States of America. 

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

          The
terms “Company”, “Trustee”, “Indenture” and “Base
Indenture” shall have the respective meanings set forth in the
paragraph preceding the recitals to this Supplemental Indenture. 

ARTICLE 2

GENERAL TERMS AND CONDITIONS OF THE NOTES

          Section
2.1 Designation and Principal Amount. 

          (a)
There is hereby authorized a series of Securities designated the “5.250% Series C Second-Priority Secured Notes due 2014”
initially offered in the aggregate principal amount of $1,300,000,000, which
amount shall be as set forth in a Company Order for the authentication and
delivery of Notes pursuant to Section 3.3 of the Base Indenture. 

          (b)
There is hereby authorized a series of Securities designated the “6.625% Series C Second-Priority Secured Notes due 2018”
initially offered in the aggregate principal amount of $700,000,000, which
amount shall be as set forth in a Company Order for the authentication and
delivery of Notes pursuant to Section 3.3 of the Base Indenture. 

          Section
2.2 Maturity. Unless earlier redeemed pursuant to Section 3.2 hereof,
the date upon which each series of Notes shall become due and payable at final
maturity, together with any accrued and unpaid interest, is the Maturity Date
for that series of Notes. 

          Section
2.3 Form, Payment and Appointment. 

          (a)
Except as provided in Section 2.4, each series of Notes shall be issued in
fully registered, certificated form, bearing identical terms without Coupons.
Principal of, premium, if any, and interest (including Additional Interest, if
any) on the Notes shall be payable, the transfer of such Notes shall be
registrable, and such Notes shall be exchangeable for Notes of a like 

-10-

aggregate
principal amount bearing identical terms and provisions, at the office or
agency of the Company maintained for such purpose in the Borough of Manhattan,
The City of New York, which shall initially be the Corporate Trust Office of
the Trustee; provided, however, that (i) if a Holder (including a Depository)
has given wire transfer instructions to the Company on or before the Regular
Record Date, then payment of principal, premium, if any, and interest (including
Additional Interest, if any) on that Holder’s Notes shall be paid in accordance
with those instructions and (ii) if no such instructions have been given, then,
at the option of the Company, payments of principal, premium, if any, and
interest (including Additional Interest, if any) may be made by check mailed to
the Holder at such address as shall appear in the Security Register. Principal,
premium, if any, and interest (including Additional Interest, if any) shall be
payable in U.S. dollars. 

          (b)
No service charge shall be made for any registration of transfer or exchange of
the Notes, but the Company may require payment from the Holder of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
connection therewith. 

          (c)
The Paying Agent and Security Registrar for the Notes shall initially be the
Trustee. 

          (d)
The Company initially appoints The Depository Trust Company (“DTC”) to act as Depository with respect to
the Global Notes. Deutsche Bank Trust Company Americas shall act as Custodian
with respect to the Global Notes. 

          (e)
The Notes of each series shall be issuable in the denominations of $2,000 and
integral multiples of $1,000 in excess thereof. 

          (f)
Except as otherwise provided in this Indenture, the provisions of Appendix A to
the Base Indenture shall apply to the Notes. 

          Section
2.4 Global Notes. Each series of Notes initially shall be issued in
permanent global form as one or more Global Notes (collectively, the “Global Notes”). Except as otherwise
provided in the Indenture or this Section 2.4, Notes represented by the Global
Notes shall not be exchangeable for, and shall not otherwise be issuable as,
Notes in certificated form. Unless and until such Global Note is exchanged for
Notes in certificated form, Global Notes may be transferred, in whole but not
in part, and any payments on the Notes shall be made, only to the Depositary or
a nominee of the Depositary, or to a successor Depositary selected or approved
by the Company or to a nominee of such successor Depositary. 

          Section
2.5 Interest.

          (a)
The unpaid principal amount of the Notes shall bear interest at the rate of
5.250% per year for the 2014 Notes (the “2014
Notes Coupon Rate”) and 6.625% per year for the 2018 Notes (the “2018 Notes Coupon Rate” and together with
the 2014 Notes Coupon Rate, the “Coupon Rates”)
from and including the Issue Date or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, but excluding, the
applicable Maturity Date. Interest on each series of Notes will be payable
semiannually in arrears on April 1 and 

-11-

October 1,
commencing on October 1, 2011. Each such date on which interest is payable for
a series of Notes is an “Interest Payment
Date” for such series. 

          (b)
Interest shall be computed on the basis of a 360-day year consisting of twelve
30-day months. In the event that any scheduled Interest Payment Date falls on a
day that is not a Business Day, then payment of interest payable on such
Interest Payment Date shall be made on the next succeeding day that is a
Business Day (and without any interest or other payment in respect of any such
delay). 

          (c)
Interest shall be calculated by the Paying Agent. The Paying Agent will provide
to the Company the calculation of interest payable on an Interest Payment Date
at least 5 Business Days prior to such Interest Payment Date. 

          (d)
The Company shall deposit the funds for any payment of interest with the
Trustee or Paying Agent one Business Day prior to any Interest Payment Date. 

ARTICLE 3

REDEMPTION AND REPURCHASE OF THE NOTES

          Section
3.1 No Sinking Fund or Repayment at Option of the Holder. The Notes are
not entitled to the benefit of any sinking fund and are not subject to
redemption at the option of the Holders. Articles 12 and 13 of the Base
Indenture shall not apply to the Notes. 

          Section
3.2 Optional Redemption. 

          (a)
At any time and from time to time, the Company may redeem all or a part of the
Notes of any series, upon not less than 30 nor more than 60 days’ notice to
each holder of Notes of such series, at a redemption price equal to the greater
of: 

	
  

 	
  

 
	
  

 	
           (1)
 100% of the principal amount of the Notes redeemed, and 

 
	
  

 	
  

 
	
  

 	
           (2) the sum of the present values of the
 remaining scheduled payments of principal and interest on the Notes to be
 redeemed that would be due after the related redemption date but for such
 redemption (exclusive of interest accrued to the redemption date) discounted
 to the redemption date on a semiannual basis (assuming a 360-day year
 consisting of twelve 30-day months) at the applicable Treasury Yield plus 50
 basis points; 

 

plus, in
either case, accrued and unpaid interest, and Additional Interest, if any, to
the date of redemption, subject to the rights of Holders of such Notes on a
relevant record date to receive interest due on a relevant Interest Payment
Date. 

          (b)
If less than all of the Notes of a series are to be redeemed at any time, the
Notes shall be redeemed on a pro rata
basis in accordance with Section 11.3 of the Base Indenture. 

          (c)
Any redemption of Notes pursuant to this Section 3.2 that is in part processed
through DTC shall be treated in accordance with the rules and procedures of DTC
as a “Pro Rata 

-12-

Pass-Through
Distribution of Principal” (as defined under such rules and procedures). Except
to the extent modified by this Indenture, the provisions of Article 11 of the
Base Indenture shall apply to redemptions of Notes pursuant to this Section
3.2. 

          (d)
In addition to the Company’s right to redeem Notes as set forth above in this
Section 3.2, the Company may at any time and from time to time purchase Notes
in open market transactions, tender offers or otherwise. 

          Section
3.3 Offer to Repurchase Upon Change of Control Triggering Event. 

          (a)
Upon the occurrence of a Change of Control Triggering Event, the Company will
be obligated to make an offer to purchase (a “Change
of Control Offer”) and each Holder of Notes will have the right to
require the Company to purchase all or any part (equal to $2,000 in principal
amount or an integral multiple of $1,000 in principal amount in excess thereof)
of that Holder’s Notes on the terms set forth in this Indenture. In the Change
of Control Offer, the Company will offer a Change of Control payment in cash
equal to 101% of the aggregate principal amount of Notes purchased plus accrued
and unpaid interest and Additional Interest, if any, on the Notes purchased to
the date of purchase, subject to the rights of Holders of Notes on the relevant
record date to receive interest due on the relevant Interest Payment Date (the
“Change of Control Payment”). 

          Within
30 days following the date upon which the Change of Control Triggering Event
occurred, or at the Company’s option, prior to any Change of Control but after
the public announcement of the pending Change of Control and conditional upon a
Change of Control Triggering Event occurring, the Company will mail, by first
class mail, a notice to each Holder of Notes, with a copy to the Trustee,
describing the transaction or transactions that constitute the Change of
Control and offering to repurchase Notes on the Change of Control payment date
specified in the notice (the “Change of
Control Payment Date”), which date will be no earlier than 30 days
and no later than 60 days from the date such notice is mailed, other than as
required by law, pursuant to the procedures required by this Indenture and
described in such notice. The notice, if mailed prior to the date of
consummation of the Change of Control, will state that the Change of Control
Offer is conditioned on the consummation of the Change of Control on or prior
to the Change of Control Payment Date. 

          (b)
On the Change of Control Payment Date, the Company shall, to the extent lawful:

	
  

 	
  

 
	
  

 	
           (i)
 accept for payment all Notes or portions of Notes properly tendered and not
 withdrawn pursuant to the Change of Control Offer; 

 
	
  

 	
  

 
	
  

 	
           (ii)
 deposit with the Paying Agent an amount equal to the Change of Control
 Payment in respect of all Notes or portions of Notes properly tendered and
 not withdrawn pursuant to the Change of Control Offer; and 

 
	
  

 	
  

 
	
  

 	
           (iii)
 deliver or cause to be delivered to the Trustee the Notes properly accepted
 together with an Officers’ Certificate stating the aggregate principal amount
 of Notes or portions of Notes being purchased by the Company. 

 

-13-

          (c)
The Paying Agent shall promptly mail to each Holder of Notes properly tendered
pursuant to the Change of Control Offer the Change of Control Payment for such
Notes, and the Trustee shall promptly authenticate and mail, or cause to be
transferred by book entry, to each such Holder a new Note equal in principal
amount to any unpurchased portion of the Notes surrendered, if any; provided
that the new Note shall be in a principal amount of $2,000 or an integral
multiple of $1,000 in excess thereof. The Company shall publicly announce the
results of the Change of Control Offer on or as soon as reasonably practicable
after the Change of Control Payment Date. 

          (d)
The Change of Control provisions described in this Section 3.3 shall be
applicable whether or not any other provisions of this Indenture are
applicable, except in any case in which the provisions of Section 11.2 hereof
are applicable. The Company shall comply with the requirements of Section 14e-1
of the Exchange Act and any other securities laws or regulations to the extent
those laws and regulations are applicable to the purchase of Notes as a result
of a Change of Control Triggering Event. To the extent that the provisions of
any securities laws or regulations conflict with the Change of Control provisions
of this Section 3.3, the Company shall comply with the applicable securities
laws and regulations and shall not be deemed to have breached its obligations
under this Section 3.3 by virtue of such compliance. 

          (e)
The Company shall not be required to make a Change of Control Offer upon a
Change of Control Triggering Event if (1) a third party makes the Change of
Control Offer in the manner, at the times and otherwise in compliance with the
requirements set forth in this Indenture applicable to a Change of Control
Offer made by the Company and purchases all Notes validly and properly tendered
and not withdrawn under the Change of Control Offer, (2) the Company has given
notice to redeem all Notes in accordance with the redemption provisions of
Section 3.2 hereof unless and until there is a default in payment of the
applicable Redemption Price or (3) in connection with or in contemplation of
any Change of Control for which a definitive agreement is in place, the Company
or a third party has made an offer to purchase (an “Alternate Offer”) any and all Notes validly and properly
tendered at a cash price equal to or higher than the Change of Control Payment
and has purchased all Notes validly and properly tendered and not withdrawn in
accordance with the terms of such Alternate Offer. 

          Section
3.4 Effect of Redemption. Unless the Company defaults in the payment of
the Redemption Price, on and after the Redemption Date, (a) interest shall
cease to accrue on the Notes immediately prior to the close of business on the
Redemption Date, (b) the Notes shall become due and payable at the Redemption
Price and (c) the Notes shall be void and all rights of the Holders in respect
of the Notes shall terminate and lapse (other than the right to receive the
Redemption Price upon surrender of such Notes but without interest on such
Redemption Price). Following the notice of a redemption, neither the Company
nor the Trustee shall be required to register the transfer of or exchange the
Notes to be redeemed. The redemption provisions of Sections 11.5 and 11.6 of
the Base Indenture shall not apply to the Notes. 

          Section
3.5 Redemption Procedures. One Business Day prior to the Redemption
Date, the Company shall deposit with the Trustee immediately available funds in
an amount sufficient to pay, on the Redemption Date, the aggregate Redemption
Price for Notes being redeemed. If the Company gives an irrevocable notice of
redemption with respect to the Notes pursuant to Section 3.2 hereof in
connection with an optional redemption, and the Company has paid to the 

-14-

Trustee the
Redemption Price of the Notes to be redeemed, then, on the Redemption Date, the
Trustee shall irrevocably deposit such funds with the Depository. The Company
shall also give the Depository irrevocable instructions and authority to pay
the Redemption Price in immediately available funds to the Holders of
beneficial interests in the Global Notes. If any Redemption Date is not a
Business Day, then the Redemption Price shall be payable on the next Business
Day (and without any interest or other payment in respect of any such delay).
Interest to be paid on or before the Redemption Date for any Notes called for
redemption shall be payable to the Holders on the Regular Record Date for the related
Interest Payment Dates. If any Notes called for redemption are not so paid upon
surrender thereof for redemption, the Redemption Price shall, until paid, bear
interest from the Redemption Date at the Coupon Rate. In exchange for the
unredeemed portion of such surrendered Notes, new Notes in an aggregate
principal amount equal to the unredeemed portion of such surrendered Notes
shall be issued. 

          Section
3.6 No Other Redemption. Except as set forth in this Article 3, the
Notes shall not be redeemable by the Company prior to the Maturity Date. 

ARTICLE 4

FORM OF NOTE

          Section
4.1 Form of Note. The Notes and the Trustee’s Certificate of
Authentication to be endorsed thereon are to be substantially in the forms
attached as Exhibit A-1 and A-2 and Exhibits B-1 and B-2 hereto, with such
changes therein as the officers of the Company executing the Notes (by manual
or facsimile signature) may approve, such approval to be conclusively evidenced
by their execution thereof. 

ARTICLE 5

 [Reserved]

ARTICLE 6

AMENDMENT, SUPPLEMENT AND WAIVER

          Section
6.1 General. Except as provided in Sections 6.2 through 6.4 hereof, this
Indenture, the Notes of any series, the Note Guarantees, any Intercreditor
Agreement, the Registration Rights Agreement and the Security Documents may be
amended or supplemented as they relate to any series of Notes with the consent
of the Holders of at least a majority in aggregate principal amount of the
Notes of such series then Outstanding under this Indenture (including, without
limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, Notes), and any existing Default or Event of Default or
compliance with any provision of this Indenture or the Notes or the Note
Guarantees, the Registration Rights Agreement or the Security Documents may be
waived with the consent of the Holders of a majority in aggregate principal
amount of the then Outstanding Pari Passu Notes (including, without limitation,
consents obtained in connection with a purchase of, or tender offer or 

-15-

exchange offer
for, Notes). Sections 9.1 and 9.2 of the Base Indenture shall not apply to the Notes. 

          Section
6.2 Consent of Holders. Without the consent of each Holder of Notes
affected, an amendment, supplement or waiver may not (with respect to any Notes
held by a non-consenting Holder): 

	
  

 	
  

 
	
  

 	
           (a)
 reduce the principal amount of Notes whose Holders must consent to an
 amendment, supplement or waiver; 

 
	
  

 	
  

 
	
  

 	
           (b)
 reduce the principal of or change the fixed maturity of any Note or reduce
 the Redemption Price of any Note; 

 
	
  

 	
  

 
	
  

 	
           (c)
 reduce the rate of or change the time for payment of interest, including
 default interest, on any Note; 

 
	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
           (e)
 make any Note payable in money other than U.S. dollars; 

 
	
  

 	
  

 
	
  

 	
           (f)
 make any change in the provisions of this Indenture relating to waivers of past
 Defaults or the rights of Holders of Notes to receive payments of principal
 of, or interest, premium, if any, or Additional Interest, if any, on, the
 Notes; 

 
	
  

 	
  

 
	
  

 	
           (g)
 waive a redemption payment with respect to any Note; 

 
	
  

 	
  

 
	
  

 	
           (h)
 release all or substantially all Guarantors from any of their obligations
 under their Note Guarantees or this Indenture, except in accordance with the
 terms of this Indenture; 

 
	
  

 	
  

 
	
  

 	
           (i)
 make any change in any Security Document, any Intercreditor Agreement or the
 provisions in this Indenture dealing with the Collateral or the Security
 Documents or the application of trust proceeds of the Collateral that would
 release all or substantially all of the Collateral from the Liens of the
 Security Documents (except as permitted by the terms of this Indenture, the
 Security Documents and the applicable Intercreditor Agreement) or change or
 alter, in a manner adverse to the Holders, the priority of the security
 interests in the Collateral; or 

 
	
  

 	
  

 
	
  

 	
           (j)
 make any change in this Section 6.2; 

 

provided that it is
understood that a purchase required pursuant to the provisions of Section 3.3
of this Indenture does not constitute a redemption for the purpose of this
Section 6.2. 

-16-

          Section
6.3 Without Consent of Holders. 

	
  

 	
  

 	
  

 
	
           (a)
 Notwithstanding Section 6.1 and 6.2 hereof, without the consent of any Holder
 of Notes, the Company or the Guarantors and the Trustee may amend or
 supplement the Note Documents: 

 

	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
           (ii)
 to provide for uncertificated Notes in addition to or in place of
 certificated Notes; 

 
	
  

 	
  

 
	
  

 	
           (iii)
 to provide for the assumption of the Company’s or a Guarantor’s obligations
 to Holders of Notes and Note Guarantees in the case of a merger or
 consolidation or sale of all or substantially all of the Company’s or such
 Guarantor’s assets, as applicable; 

 
	
  

 	
  

 
	
  

 	
           (iv)
 to make any change that would provide any additional rights or benefits to
 the Holders, increase the interest rate applicable to any series of Notes or
 that does not adversely affect the legal rights under this Indenture of any
 such Holder; 

 
	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
           (vi)
 to conform the text of this Indenture, the Note Guarantees, the Notes or the
 Security Documents to any provision of the Offering Memorandum set forth
 under the heading “Description of Notes” or “Description of Collateral”; 

 
	
  

 	
  

 
	
  

 	
           (vii)
 to confirm and evidence the release, termination, subordination or discharge
 of any Lien securing the Notes when such release, termination or discharge is
 permitted by this Indenture, the Security Documents or any Intercreditor
 Agreement; 

 
	
  

 	
  

 
	
  

 	
           (viii)
 to provide for the issuance of Additional Notes in accordance with the
 limitations set forth in this Indenture as of the date of this Indenture; 

 
	
  

 	
  

 
	
  

 	
           (ix)
 to allow any Guarantor to execute a supplemental indenture and/or a Note
 Guarantee with respect to the Notes or to effect the release of any Guarantor
 from any of its obligations under its Note Guarantee or this Indenture (to
 the extent permitted by this Indenture); and 

 
	
  

 	
  

 
	
  

 	
           (x)
 in the case of any Intercreditor Agreement, in order to subject the security
 interests in the Collateral to secure any First Lien Obligations (to the
 extent such Liens are permitted by this Indenture) or Second Lien Obligations
 to the terms of any Intercreditor Agreement. 

 
	
  

 	
  

 

          (b)
Notwithstanding Section 6.1 and 6.2 hereof, (i) to the extent provided in
Section 5.3(e) of the Senior Intercreditor Agreement, any amendment, waiver
or consent in respect of any of the First Lien Collateral Documents (as
defined in the Senior Intercreditor Agreement) for the purpose of adding to,
or deleting from, or waiving or consenting to any departures from any

-17-

provisions of, any First Lien Collateral Document (as defined in the Senior
Intercreditor Agreement) changing in any manner the rights of the First Lien
Agent or the First Lien Claimholders (as defined in the Senior Intercreditor
Agreement) or the Company or any Guarantor or any other Grantor (as defined
in the Security Agreement), then such amendment, waiver or consent shall
apply automatically to any comparable provision of the comparable Security Documents or the comparable provision in any other Note
Document, to the extent applicable to any Collateral, and will also apply
automatically to the comparable Security Documents or any other Note Document
without the consent of the Trustee, the Notes Collateral Agent or any Holder of
Notes of any series and without any action by the Trustee, the Notes Collateral
Agent, the Company, any Guarantor or any other Grantor (as defined in the
Security Agreement) and (ii) provisions of the Senior Intercreditor Agreement
may be amended, modified or waived without the approval, consent or signature
of the Trustee, the Notes Collateral Agent or any Holder of Notes of any series
to the extent such amendment, modification or waiver is effected solely to
implement the succession of a new First Lien Representative and/or First Lien
Collateral Agent (as each such term is defined in the Senior Intercreditor
Agreement) upon a refinancing of the Credit Agreement in whole or in part. Each
Holder authorizes the Notes Collateral Agent to execute any documentation
reasonably requested by the Company to evidence any amendment, waiver or
consent described in this Section 6.3(b).

          Section
6.4 Form of Consent. The consent of the Holders of any series of Notes
is not necessary under this Indenture, any Security Document or any
Intercreditor Agreement to approve the particular form of any proposed
amendment or waiver. It is sufficient if such consent approves the substance of
the proposed amendment or waiver. Any consent given by any Holder under Section
6.2 hereof or this Section 6.4 shall be irrevocable for a period of three
months after the date of execution thereof, but may be revoked at any time
thereafter by such Holder or by his successor in title by filing written notice
of such revocation with the Trustee at its Corporate Trust Office; provided,
however, that such consent shall not be revocable after the Holders of not less
than a majority in aggregate principal amount of the Notes of the series of
which such Note is a part at the time Outstanding shall have consented to such
amendment or waiver or such supplemental indenture. No notation on any Note of
the fact of such consent shall be necessary, but any such written consent by
the Holder of any Note shall be conclusive and binding on all future Holders
and owners of the same Note and of all Securities delivered in exchange
therefor, unless revoked in the manner and during the period provided in this
Section 6.4.  

ARTICLE 7

COVENANTS

          In
addition to the covenants set forth in Article 10 of the Base Indenture, the
following covenants shall apply to any Outstanding Notes: 

          Section
7.1 Liens. 

          After
the date of the execution and delivery of this Indenture and so long as any
Notes shall be outstanding, the Company shall not pledge or otherwise subject
to any lien (any such pledge or lien being hereinafter referred to as a “Lien”)
any of its property or assets to secure  

-18-

Indebtedness
for money borrowed, incurred, issued, assumed or guaranteed by the Company
without thereby expressly securing the due and punctual payment of the
principal of and interest and Additional Interest, if any, on the Notes equally
and ratably with any and all other Indebtedness for borrowed money secured by
such Lien, so long as any such other Indebtedness shall be so secured;
provided, however, that this restriction shall not prohibit or otherwise
restrict: 

	
  

 	
  

 
	
  

 	
           (a)
 Liens existing on the date of this Indenture (other than Liens securing the
 First Lien Obligations); 

 
	
  

 	
  

 
	
  

 	
           (b)
 Liens securing the First Lien Obligations; provided that the aggregate
 principal amount of Indebtedness constituting First Lien Obligations secured
 by Liens permitted by this clause (b) shall not exceed the aggregate
 principal amount of Indebtedness constituting First Lien Obligations as of
 the Issue Date; 

 
	
  

 	
  

 
	
  

 	
           (c)
 the Company from creating, incurring or suffering to exist upon any of its
 property or assets any Lien in favor of any Subsidiary of the Company; 

 
	
  

 	
  

 
	
  

 	
           (d)
 the Company (i) from creating, incurring or suffering to exist a purchase
 money Lien upon any such property, assets, capital stock or Indebtedness
 acquired by the Company prior to, at the time of, or within one year after
 (1) in the case of physical property or assets, the later of the acquisition,
 completion of construction (including any improvements on existing property)
 or commencement of commercial operation of such property or (2) in the case
 of shares of Capital Stock, Indebtedness or other property or assets, the
 acquisition of such shares of Capital Stock, Indebtedness, property or
 assets, (ii) from acquiring property or assets subject to Liens existing
 thereon at the date of acquisition thereof, whether or not the Indebtedness
 secured by any such Lien is assumed or guaranteed by the Company, or (iii)
 from creating, incurring or suffering to exist Liens upon any property of any
 Person, which Liens exist at the time any such Person is merged with or into
 or consolidated with the Company (or becomes a subsidiary of the Company) or
 which Liens exist at the time of a sale or transfer of the properties of any
 such Person as an entirety or substantially as an entirety to the Company; 

 
	
  

 	
  

 
	
  

 	
           (e)
 the Company from creating, incurring or suffering to exist upon any of its
 property or assets Liens in favor of the United States or any state thereof
 or the District of Columbia, or any agency, department or other
 instrumentality thereof, to secure progress, advance or other payments
 pursuant to any contract or provision of any statute (including maintaining
 self-insurance or participating in any fund in connection with worker’s
 compensation, disability benefits, unemployment insurance, old age pensions
 or other types of social benefits, or joining in any other provisions or
 benefits available to companies participating in any such arrangements); 

 
	
  

 	
  

 
	
  

 	
           (f)
 the Company from creating, incurring or suffering to exist upon any of its
 property or assets Liens securing its obligations under letters of credit
 issued, Rate Management Transactions entered into not for speculative
 purposes, bids, tenders, sales contracts, purchase agreements, repurchase
 agreements, reverse repurchase agreements, 

 

-19-

	
  

 	
  

 
	
  

 	
 bankers’
 acceptances, leases, surety and performance bonds, and other similar
 obligations, in each case, incurred in the ordinary course of business; 

 
	
  

 	
  

 
	
  

 	
           (g)
 the Company from creating, incurring or suffering to exist Liens upon any
 real property acquired or constructed by the Company primarily for use in the
 conduct of its business; 

 
	
  

 	
  

 
	
  

 	
           (h)
 the Company from entering into any arrangement with any Person providing for
 the leasing by the Company of any property or assets, which property or
 assets have been or will be sold or transferred by the Company to such Person
 with the intention that such property or assets will be leased back to the
 Company, if the obligations in respect of such lease would not be included as
 liabilities on a consolidated balance sheet of the Company; 

 
	
  

 	
  

 
	
  

 	
           (i)
 the Company from creating, incurring or suffering to exist upon any of its
 property or assets Liens to secure non-recourse debt in connection with the
 Company engaging in any leveraged or single-investor or other lease
 transactions, whether (in the case of Liens on or relating to leases or
 groups of leases or the particular properties subject thereto) such Liens are
 on the particular properties subject to any leases involved in any of such
 transactions and/or the rental or other payments or rights under such leases
 or, in the case of any group of related or unrelated leases, on the
 properties subject to the leases comprising such group and/or on the rental
 or other payments or rights under such leases, or on any direct or indirect
 interest therein, and whether (in any case) (A) such Liens are created prior
 to, at the time of, or at any time after the entering into of such lease
 transactions and/or (B) such leases are in existence prior to, or are entered
 into by the Company at the time of or at any time after, the purchase or
 other acquisition by the Company of the properties subject to such leases; 

 
	
  

 	
  

 
	
  

 	
           (j)
 the Company from creating, incurring or suffering to exist (A) other
 consensual Liens in the ordinary course of business of the Company that
 secure Indebtedness that, in accordance with generally accepted accounting
 principles, would not be included in total liabilities as shown on the
 Company’s consolidated balance sheet, or (B) Liens created by the Company in
 connection with any transaction intended by the Company to be a sale of
 property or assets of the Company, provided that such Liens are upon any or
 all of the property or assets intended to be sold, the income from such
 property or assets and/or the proceeds of such property or assets; 

 
	
  

 	
  

 
	
  

 	
           (k)
 the Company from creating, incurring or suffering to exist Liens on property
 or assets financed through tax-exempt municipal obligations, provided that
 such Liens are only on the property or assets so financed; 

 
	
  

 	
  

 
	
  

 	
           (l)
 any extension, renewal, refinancing or replacement (or successive extensions,
 renewals, refinancings or replacements), in whole or in part, of any of the
 foregoing (other than Liens permitted by clause (b)); provided, however, that
 any such extension, renewal, refinancing or replacement shall be limited to
 all or a part of the property or assets (or substitutions therefor) which
 secured the Lien so extended, renewed, refinanced or replaced (plus
 improvements on such property); and 

 

-20-

	
  

 	
  

 
	
  

 	
           (m)
 the Company from creating, incurring or suffering to exist any other Liens
 not otherwise permitted by any of the foregoing clauses (a) through (l)
 above; provided that the  maximum amount of Indebtedness secured by Liens in reliance on this clause
 (m) shall not exceed, at the time of and after giving effect to the incurrence
 of any Indebtedness secured by a Lien in reliance on this clause (m), an
 amount equal to the greater of $900 million or 10% of the excess of the
 Company’s consolidated total assets over the Company’s consolidated
 liabilities, as shown on the Company’s balance sheet for the most recent
 fiscal quarter for which financial statements are publicly available in
 accordance with generally accepted accounting principles at the date of
 measurement. 

 

          For
the purposes of this Section 7.1, any contract by which title is retained as
security (whether by lease, purchase, title retention agreement or otherwise)
for the payment of a purchase price shall be deemed to be a purchase money
Lien. 

          Nothing
contained in this Section 7.1 or in this Indenture shall prevent or be deemed
to prohibit the creation, assumption or guaranty by the Company of any
Indebtedness not secured by a Lien or the issuance by the Company of any
debentures, notes or other evidences of Indebtedness not secured by a Lien,
whether in the ordinary course of business or otherwise. 

          The
entry by the Company into any contract, document, agreement or instrument
(which shall include bank credit facilities, Rate Management Transactions and
loan agreements), in the ordinary course of business or otherwise, which
contract, document, agreement or instrument may provide for or contain a right
of set-off or other similar right between the Company and such other party to
the contract, document, agreement or instrument shall not result in, or be
deemed to constitute, the creation or incurrence of a “Lien” as such term is
used in this Indenture. 

          Section
7.2 Merger, Consolidation or Sale of All or Substantially All Assets. 

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

	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

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

 

-21-

	
  

 	
  

 
	
  

 	
           (iii)
 immediately after, and upon giving effect to, such transaction, no Default or
 Event of Default exists. 

 
	
  

 	
  

 
	
           (b)
 This Section 7.2 shall not apply to: 

 
	
  

 	
  

 
	
  

 	
           (i)
 a merger of the Company with an Affiliate solely for the purpose of
 reincorporating the Company in another jurisdiction; or 

 
	
  

 	
  

 
	
  

 	
           (ii)
 any consolidation or merger, or any sale, assignment, transfer, conveyance,
 lease or other disposition of assets between or among the Company and its
 Subsidiaries. 

 

          (c)
Section 8.1 of the Base Indenture shall not apply to the Notes. Section 8.2 of
the Base Indenture shall apply, mutatis
mutandis, to any event described in this Section 7.2. Section 10.4
of the Base Indenture shall be subject to this Section 7.2. 

          Section
7.3 Reports. 

          (a)
Whether or not required by the rules and regulations of the Commission and in
lieu of Section 7.4 of the Base Indenture, so long as any Notes are
Outstanding, the Company shall furnish to the Holders or cause the Trustee to
furnish to the Holders, within 15 days after the Company is required to file
the same with the Commission:

	
  

 	
  

 
	
  

 	
           (i)
 all quarterly and annual reports that the Company is required to file, or
 would be required to be filed with the Commission, on Forms 10-Q and 10-K if
 the Company were required to file such reports; and 

 
	
  

 	
  

 
	
  

 	
           (ii)
 all current reports that the Company is required to file, or would be
 required to be filed with the Commission, on Form 8-K if the Company were
 required to file such reports; 

 

provided that any such above information or
reports filed with the EDGAR system of the Commission (or any successor system)
and available publicly on the Internet shall be deemed to be furnished to the
Holders of Notes. 

          (b)
All such reports shall be prepared in all material respects in accordance with
all of the rules and regulations applicable to such reports. Each annual report
on Form 10-K shall include a report on the Company’s consolidated financial
statements by the Company’s independent registered public accounting firm. In
addition, whether or not required by the Commission, the Company shall file a
copy of all of the reports referred to in Section 7.3(a)(i) and (ii) with the
Commission for public availability within the time periods specified in the
Commission’s rules and regulations applicable to such reports for the status of
the filer that the Company would otherwise be if it were required to file
reports with the Commission, subject to extension as set forth in Rule
12b-25(b)(ii) under the Exchange Act (or any successor provision) (unless the Commission
shall not accept such a filing) and make such information available to
securities analysts and prospective investors upon request. The Company agrees
that it shall not take any action that would cause the Commission not to accept
such filings. If, notwithstanding 

-22-

the foregoing,
the Commission will not accept such filings for any reason, the Company will
post the reports specified in Section 7.3(a) hereof on its publicly accessible
website within the time periods that would apply if the Company were required
to file those reports with the Commission. 

          (c)
If, and so long as, all of the Capital Stock of the Company is beneficially
owned, directly or indirectly, by a Person (the “Parent”) (i) whose corporate family and corporate credit
ratings are Investment Grade Ratings and (ii) that files reports with the
Commission under Section 13(a) or 15(d) of the Exchange Act, the requirements
in Section 7.3(a) shall be deemed satisfied by the filing by such Parent of the
reports specified in Section 7.3(a) hereof within the time periods specified
therein. 

          (d)
In addition, the Company and the Guarantors agree that, for so long as any
Notes remain Outstanding, if at any time they are not required to file with the
Commission the reports required by this Section 7.3, they shall furnish to the
Holders and to securities analysts, broker/dealers, corporate trading desks and
prospective investors, upon the request of any Holder, the information required
to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

          Section
7.4 Additional Note Guarantees and Collateral. 

          (a)
The Company will not at any time cause or permit any Subsidiary of the Company
to Guarantee any Series A Notes, unless such Subsidiary also Guarantees the
Notes on a pari passu basis pursuant to a supplemental indenture. In such
event, the Company will deliver an Opinion of Counsel reasonably satisfactory
to the Trustee relating to such supplemental indenture. 

          (b)
The Company will not at any time create or suffer to exist, or cause or permit
any Subsidiary of the Company to create or suffer to exist, directly or
indirectly, any Lien on any of its property or assets to secure any Obligations
in respect of the Series A Notes, unless such property or asset is pledged to
secure the Note Obligations on a pari passu basis. The Company will, and will
cause to be, executed and delivered to the Trustee and the Notes Collateral
Agent and filed (if applicable) all such agreements, instruments, opinions,
certificates and documents as are executed, delivered and/or filed after the
Issue Date, as the case may be, in connection with any Lien securing any
Obligations in respect of the Series A Notes. 

ARTICLE 8

EVENTS OF DEFAULT

          Section
8.1 Events of Default. 

          (a)
Solely with respect to each series of Notes, the following shall be substituted
for, and shall constitute Events of Default in lieu of, the events listed as
Events of Default in Section 5.1 of the Base Indenture: “Event of Default” wherever used in the
Indenture solely with respect to Notes of any series, means any one of the
following events (whatever the reason for such Event of Default and whether it
shall be voluntary or involuntary or be effected by 

-23-

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): 

	
  

 	
  

 
	
  

 	
           (i)
 default for 30 days in the payment when due of interest on the Notes of such
 series; 

 
	
  

 	
  

 
	
  

 	
           (ii)
 default in the payment when due (at maturity, upon redemption or otherwise)
 of the principal of, or premium, if any, on, the Notes of such series; 

 
	
  

 	
  

 
	
  

 	
           (iii)
 failure for 3 business days by the Company to comply with Sections 3.3 or 7.2
 hereof; 

 
	
  

 	
  

 
	
  

 	
           (iv)
 failure by the Company for 60 days after written notice to the Company by the
 Trustee or the Holders of at least 25% in aggregate principal amount of the
 Pari Passu Notes then Outstanding voting as a single class to comply with any
 of the other agreements in this Indenture; 

 
	
  

 	
  

 
	
  

 	
           (v)
 default under any mortgage, indenture or instrument under which there may be
 issued or by which there may be secured or evidenced any Indebtedness for
 money borrowed by the Company or any of its Significant Subsidiaries (or the
 payment of which is guaranteed by the Company or any of its Significant
 Subsidiaries), whether such Indebtedness or Guarantee now exists, or is
 created after the Issue Date, if that default:

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (1)
is caused by a failure to pay any scheduled installment of principal on such
Indebtedness prior to the expiration of the grace period provided in such
Indebtedness on the date of such default (a “Payment Default”); or  

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (2)
 results in the acceleration of such Indebtedness prior to its express
 maturity, 

 

	
  

 	
  

 
	
  

 	
 and, in each
 case, the principal amount of any such Indebtedness, together with the
 principal amount of any other such Indebtedness under which there has been a
 Payment Default or the maturity of which has been so accelerated, aggregates
 $250.0 million or more; 

 

	
  

 	
  

 
	
  

 	
           (vi)
 failure by the Company or any of its Significant Subsidiaries to pay final
 and non-appealable judgments entered by a court or courts of competent
 jurisdiction aggregating in excess of $250.0 million (net of any amounts
 covered by insurance), which judgments are not paid, discharged or stayed for
 a period of 60 days; 

 
	
  

 	
  

 
	
  

 	
           (vii)
 with respect to the Company or any of its Significant Subsidiaries, (x) a
 court of competent jurisdiction enters an order or decree under any
 applicable Bankruptcy Law that: (A) is for relief against such Person or
 Persons in an involuntary case; (B) appoints a Bankruptcy Custodian of such
 Person or Persons or for all or substantially all of the property of such
 Person or Persons; or (C) orders the liquidation of such Person or Persons;
 and, in each case, the order or decree remains unstayed and in effect for 60 

 

-24-

	
  

 	
  

 
	
  

 	
 consecutive
 days; or (y) the commencement by such Person or Persons of a voluntary
 proceeding under any applicable bankruptcy, insolvency, reorganization (other
 than a reorganization under a foreign law that does not relate to insolvency)
 or other similar law or of a voluntary proceeding seeking to be adjudicated insolvent
 or the consent by such Person or Persons to the entry of a decree or order
 for relief in an involuntary proceeding under any applicable bankruptcy,
 insolvency, reorganization or other similar law or to the commencement of any
 insolvency proceedings against it or them, or the filing by such Person or
 Persons of a petition or answer or consent seeking reorganization,
 arrangement, adjustment or composition of such Person or Persons under any
 such applicable law, or the consent by such Person or Persons to the filing
 of such petition or to the appointment of or taking possession by a
 custodian, receiver, liquidator, assignee, trustee or similar official of
 such Person or Persons or any substantial part of the property of such Person
 or Persons or the making by such Person or Persons of an assignment for the
 benefit of creditors, or the taking of corporate action by such Person or
 Persons in furtherance of any such action or the admitting in writing by such
 Person or Persons of its or their inability to pay its or their debts
 generally as they become due; 

 
	
  

 	
  

 
	
  

 	
           (viii)
 (x) any Note Guarantee with respect to a Note of such series of any Guarantor
 that is a Significant Subsidiary, (A) ceases to be in full force and effect
 (other than in accordance with the terms of such Note Guarantee or
 Guarantees, as applicable, and this Indenture) or (B) is declared null and
 void and unenforceable or found to be invalid or (y) any Guarantor that is a
 Significant Subsidiary denies its liability under its Note Guarantee with
 respect to a Note of such series (other than by reason of release of a
 Guarantor from its Note Guarantee in accordance with the terms of this
 Indenture and the Note Guarantee); and 

 
	
  

 	
  

 
	
  

 	
           (ix)
 any security interest and Lien purported to be created by any Security
 Document with respect to any Collateral, individually or in the aggregate,
 having a fair market value in excess of $250.0 million shall cease to be in
 full force and effect, or shall cease to give the Notes Collateral Agent, for
 the benefit of the Holders, the Liens, rights, powers and privileges
 purported to be created and granted thereby (including a perfected
 second-priority security interest in and Lien on, all of the Collateral
 thereunder (except as otherwise expressly provided in this Indenture, the
 Security Documents or the Intercreditor Agreements)) in favor of the Notes
 Collateral Agent, or shall be asserted by the Company or any Guarantor to not
 be, a valid, perfected, second-priority (except as otherwise expressly provided
 in this Indenture, the Security Documents or any Intercreditor Agreement)
 security interest in or Lien on such Collateral covered thereby; except to
 the extent that any such loss of perfection or priority results from the
 failure of the Notes Collateral Agent or the Trustee (or an agent or trustee
 on its behalf) to maintain possession of certificates actually delivered to
 it (or such agent or trustee) representing securities pledged under the
 Security Documents. 

 
	
  

 	
  

 
	
  

 	
 Section 8.2 Effect
 of Event of Default. 

 

          (a)
In the case of an Event of Default arising under Section 8.1(a)(vii), all
Outstanding Notes shall become due and payable immediately without further
action or notice. If any other Event of Default occurs and is continuing, the
Trustee or the Holders of at least 25% 

-25-

 in aggregate principal amount of the then
Outstanding Pari Passu Notes, by notice to the Company, may declare all the
Notes of any affected series to be due and payable immediately. 

          (b)
Subject to certain limitations and to the Intercreditor Agreements, Holders of
a majority in aggregate principal amount of the then Outstanding Pari Passu
Notes may direct the Trustee in its exercise of any trust or power. The Trustee
may withhold from Holders of Pari Passu Notes notice of any continuing Default
or Event of Default if it determines that withholding notice is in their
interest, except a Default or Event of Default relating to the payment of
principal, interest or premium, if any. 

          (c) Subject to the provisions of this Indenture
relating to the duties of the Trustee, in case an Event of Default occurs and
is continuing, the Trustee shall be under no obligation to exercise any of the
rights or powers under this Indenture at the request or direction of any
Holders of Pari Passu Notes unless such Holders have offered to the Trustee
reasonable indemnity or security against any loss, liability or expense. Except
to enforce the right to receive payment of principal, premium, if any, or
interest or Additional Interest, if any, when due, no Holder of Notes of a
series may pursue any remedy with respect to this Indenture or the Notes
unless: 

	
  

 	
  

 	
  

 
	
  

 	
           (i)
 such Holder has previously given the Trustee notice that an Event of Default
 is continuing; 

 
	
  

 	
  

 	
  

 
	
  

 	
           (ii)
 Holders of at least 25% in aggregate principal amount of the then Outstanding
 Pari Passu Notes have requested the Trustee to pursue the remedy; 

 
	
  

 	
  

 	
  

 
	
  

 	
           (iii)
 such Holders of Pari Passu Notes have offered the Trustee reasonable security
 or indemnity against any loss, liability or expense; 

 
	
  

 	
  

 	
  

 
	
  

 	
           (iv)
 the Trustee has not complied with such request within 60 days after the
 receipt of the request and the offer of security or indemnity; and 

 
	
  

 	
  

 	
  

 
	
  

 	
           (v)
 Holders of a majority in aggregate principal amount of the then Outstanding
 Pari Passu Notes have not given the Trustee a direction inconsistent with
 such request within such 60-day period. 

 

          (d)
The Holders of a majority in aggregate principal amount of the then Outstanding
Pari Passu Notes by notice to the Trustee may, on behalf of the Holders of all
of the Notes, rescind an acceleration or waive any existing Default or Event of
Default and its consequences under the Indenture except a continuing Default or
Event of Default in the payment of interest, including Additional Interest, if
any, or premium, if any, on, or the principal of, the Notes. 

          Section
8.3 Company Statement as to Compliance; Notice of Certain Defaults. 

          (a)
The Company shall deliver to the Trustee, within 120 days after the end of each
fiscal year, a written statement (which need not be contained in or accompanied
by an Officers’ Certificate) signed by the principal executive officer, the
principal financial officer or the principal accounting officer of the Company,
stating that: 

-26-

	
  

 	
  

 
	
  

 	
           (i)
 a review of the activities of the Company during such year and of its
 performance under this Indenture has been made under his or her supervision;
 and 

 
	
  

 	
  

 
	
  

 	
           (ii)
 to the best of his or her knowledge, based on such review, (a) the Company
 has complied in all material respects with all the conditions and covenants
 imposed on it under this Indenture throughout such year, or, if there has
 been a default in the fulfillment of any such condition or covenant or
 agreement, specifying each such default known to him or her and the nature
 and status thereof, and (b) no event has occurred and is continuing which is,
 or after notice or lapse of time or both would become, an Event of Default,
 or, if such an event has occurred and is continuing, specifying each such
 event known to him and the nature and status thereof.

 

          (b)
The Company shall deliver to the Trustee, within 30 days after the Company
becomes aware of the occurrence thereof, written notice of any Event of Default
or Default. 

          (c)
The Trustee shall have no duty to monitor the Company’s compliance with the
covenants contained in this Indenture other than as specifically set forth in
this Section 8.3. 

ARTICLE 9

GUARANTEE OF NOTES

          Section
9.1 Guarantee. 

          (a)
Subject to this Article 9, each of the Guarantors hereby, jointly and
severally, unconditionally guarantees to each Holder of a Note authenticated
and delivered by the Trustee and to the Trustee and its successors and assigns,
irrespective of the validity and enforceability of this Indenture, the Notes or
the Obligations of the Company hereunder or thereunder, that: 

	
  

 	
  

 
	
  

 	
           (i)
 the principal of, premium, if any, interest and Additional Interest, if any,
 on, the Notes shall be promptly paid in full when due, whether at maturity,
 by acceleration, redemption or otherwise, and interest on the overdue
 principal of, premium, if any, interest, and Additional Interest, if any, on
 the Notes, if any, if lawful, and all other obligations of the Company to the
 Holders or the Trustee hereunder or thereunder shall be promptly paid in full
 or performed, all in accordance with the terms hereof and thereof; and 

 
	
  

 	
  

 
	
  

 	
           (ii)
 in case of any extension of time of payment or renewal of any Notes or any of
 such other obligations, that same shall be promptly paid in full when due or
 performed in accordance with the terms of the extension or renewal, whether
 at stated maturity, by acceleration or otherwise. 

 

If the Company
fails to make payments when due of any amount so guaranteed or any performance
so guaranteed for whatever reason, the Guarantors shall be jointly and
severally obligated to pay the same immediately. Each Guarantor agrees that
this is a guarantee of payment and not a guarantee of collection. 

-27-

          (b)
The Guarantors hereby agree that their Obligations hereunder are unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this
Indenture, the absence of any action to enforce the same, any waiver or consent
by any Holder with respect to any provisions hereof or thereof, the recovery of
any judgment against the Company, any action to enforce the same or any other
circumstance which might otherwise constitute a legal or equitable discharge or
defense of a guarantor. To the extent permitted by applicable law, each
Guarantor hereby waives diligence, presentment, demand of payment, filing of
claims with a court in the event of insolvency or bankruptcy of the Company,
any right to require a proceeding first against the Company, protest, notice
and all demands whatsoever and covenant that this Note Guarantee shall not be
discharged except by complete performance of the Obligations contained in the
Notes and this Indenture. 

          (c)
If any Holder or the Trustee is required by any court or otherwise to return to
the Company, the Guarantors or any custodian, trustee, liquidator or other
similar official acting in relation to either the Company or the Guarantors,
any amount paid by either to the Trustee or such Holder, the Note Guarantee, to
the extent theretofore discharged, shall be reinstated in full force and
effect. 

          (d)
Each Guarantor agrees that it shall not be entitled to any right of subrogation
in relation to the Holders in respect of any obligations guaranteed hereby
until payment in full of all obligations guaranteed hereby. Each Guarantor
further agrees that, as between the Guarantors, on the one hand, and the
Holders and the Trustee, on the other hand, (i) the maturity of the obligations
guaranteed hereby may be accelerated as provided in Article 5 of the Base
Indenture (as amended hereby) for the purposes of this Note Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (ii) in the
event of any declaration of acceleration of such obligations as provided in
Article 5 of the Base Indenture (as amended hereby), such obligations (whether
or not due and payable) shall forthwith become due and payable by the
Guarantors for the purpose of this Note Guarantee. The Guarantors shall have
the right to seek contribution from any nonpaying Guarantor so long as the
exercise of such right does not impair the rights of the Holders under the Note
Guarantee. 

          Section
9.2 Limitation on Guarantor Liability. Each Guarantor, and by its
acceptance of Notes, each Holder, hereby confirms that it is the intention of
all such parties that the Note Guarantee of such Guarantor not constitute a
fraudulent transfer or conveyance for purposes of any Bankruptcy Law, the
Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any
similar federal or state law to the extent applicable to any Note Guarantee. To
effectuate the foregoing intention, the Trustee, the Holders and the Guarantors
hereby irrevocably agree that the obligations of such Guarantor shall be
limited to the maximum amount that shall, after giving effect to such maximum
amount and all other contingent and fixed liabilities of such Guarantor that
are relevant under such laws and after giving effect to any collections from,
rights to receive contribution from or payments made by or on behalf of any
other Guarantor in respect of the obligations of such other Guarantor under
this Article 9, result in the obligations of such Guarantor under its Note
Guarantee not constituting a fraudulent transfer or conveyance. 

-28-

          Section
9.3 Guarantors May Consolidate, etc., on Certain Terms. 

          A
Guarantor may not sell or otherwise dispose of all or substantially all of its
assets to, or consolidate with or merge with or into, another Person, other
than another Guarantor, unless: 

	
  

 	
  

 
	
  

 	
           (i)
 immediately after giving effect to that transaction, no Default or Event of
 Default exists; 

 
	
  

 	
  

 
	
  

 	
           (ii)
 the Person acquiring the property in any such sale or disposition or the
 Person (if other than that Guarantor) formed by or surviving any such
 consolidation or merger assumes all obligations of that Guarantor under this
 Indenture, its Note Guarantee, the Security Documents and the Registration
 Rights Agreement pursuant to a supplemental indenture and other agreements
 reasonably satisfactory to the Trustee; and 

 
	
  

 	
  

 
	
  

 	
           (iii)
 at the time of the transaction, the surviving Person (if other than the
 Guarantor) will have delivered, or caused to be delivered, to the Trustee, in
 form and substance reasonably satisfactory to the Trustee, an Officers’
 Certificate and an Opinion of Counsel, each to the effect that such
 consolidation, merger, transfer, sale, assignment, conveyance, lease or other
 transaction and the supplemental indenture in respect thereof comply with
 this Indenture and that all conditions precedent therein provided for
 relating to such transaction have been complied with; 

 

provided, however, that this Section 9.3 shall not
apply to any Guarantor whose Note Guarantee is released and discharged in
accordance with Section 9.4. 

          Section
9.4 Releases. 

          (a)
A Guarantor shall be automatically released and relieved of its Obligations
under the Note Guarantee without the consent of any Holder of the Notes: 

	
  

 	
  

 
	
  

 	
           (i)
 upon (A) the release of such Guarantor’s Guarantee of the Series A Notes
 (including, without limitation, pursuant to the Series A Notes Indenture or
 the Intercreditor Agreements or as a result of or pursuant to any amendment
 of the Series A Indenture or Intercreditor Agreements), other than as a
 result of payment under such Guarantee of the Series A Notes following an
 “Event of Default” under (and as defined in) the Series A Indenture, or (B)
 payment in full of the Series A Notes; 

 
	
  

 	
  

 
	
  

 	
           (ii)
 upon the Notes receiving an Investment Grade Rating from each Rating Agency
 on a pro forma basis after
 giving effect to such release; or 

 
	
  

 	
  

 
	
  

 	
           (iii)
 upon legal defeasance, covenant defeasance or satisfaction and discharge of
 the Indenture as provided under Sections 11.1 and 11.2 hereof. 

 

          (b)
Any Guarantor not released from its Obligations under its Note Guarantee as
provided in this Section 9.4 shall remain liable for the full amount of
principal of, premium, if any, interest, and Additional Interest, if any, on
the Notes and for the other obligations of any Guarantor under this Indenture
as provided in this Article 9. 

-29-

          (c)
To the extent that the Obligations of any Guarantor under its Guarantee of the
First Lien Obligations are subordinated, then the Note Guarantee of such
Guarantor shall be subordinated to the same extent, as required by the
Intercreditor Agreements and subject to the subordination of the obligations of
any Guarantor under its Guarantee of the Series A Notes to the same extent. 

ARTICLE 10

COLLATERAL

          Section
10.1 Intercreditor Agreements. This Article 10 and the provisions of
each other Security Document are subject to the terms, limitations and
conditions set forth in the Intercreditor Agreements. 

          Section
10.2 Security Documents. The payment of the Notes and the Note Guarantee
when due (at maturity, upon redemption or otherwise) shall be secured as
provided in the Security Documents which the Company and the Guarantors and
other Grantors (as defined in the Security Agreement) have entered into on the
Issue Date and shall be secured as provided by all Security Documents hereafter
delivered as required by the Indenture, in each case subject to the terms of
the Intercreditor Agreements. Each Holder of Notes, by its acceptance of a
Note, consents and agrees to the terms of each Security Document and each
Intercreditor Agreement, appoints Deutsche Bank Trust Company Americas as Notes
Collateral Agent as of the Issue Date, authorizes and directs the Trustee to
enter into each Intercreditor Agreement by joinder thereto and the Notes
Collateral Agent to enter into the Security Documents and, by joinder thereto,
each Intercreditor Agreement, and authorizes and empowers each of the Trustee
and the Notes Collateral Agent to bind the Holders as set forth in the Security
Documents and the Intercreditor Agreements. 

          Section
10.3 Release of Liens in Respect of Notes. The Holders authorize the
Notes Collateral Agent to release or subordinate Liens upon the Collateral in
accordance with, and as required by, the Security Agreement and the
Intercreditor Agreements, and to take any further action and enter into any
documentation to evidence the release or subordination of such Lien in
accordance with the Security Agreement and the Intercreditor Agreements. 

          Section
10.4 Compliance with Trust Indenture Act. The Company shall comply with
the provisions of Trust Indenture Act Section 314 to the extent applicable. To
the extent applicable, the Company shall cause Trust Indenture Act Section
313(b), relating to reports, and, following qualification of the Indenture
under the Trust Indenture Act (if required), Trust Indenture Act Section
314(d), relating to the release of property or securities subject to the Lien
of the Security Documents and to the substitution therefor of any property to
be pledged as Collateral for the Notes, to be complied with. Any certificate
or opinion required by Trust Indenture Act Section 314(d) shall be made by an
officer of the Company, except in cases where Trust Indenture Act Section
314(d) requires that such certificate or opinion be made by an independent
Person, which Person shall be an independent engineer, appraiser or other
expert reasonably satisfactory to the Trustee. Notwithstanding anything to the
contrary in this Section 10.4, the Company shall not be required to comply with
all or any portion of Trust Indenture Act Section 314(d) if it reasonably
determines that under the terms of Trust Indenture Act Section 

-30-

314(d) or any
interpretation or guidance as to the meaning thereof of the Commission and its
staff, including “no action” letters or exemptive orders, all or any portion of
Trust Indenture Act Section 314(d) is inapplicable to any release or series of
releases of Collateral. Without limiting the generality of the foregoing,
certain “no action” letters issued by the Commission have permitted an
indenture qualified under the Trust Indenture Act to contain provisions
permitting the release of Collateral from Liens under such indenture in the
ordinary course of the issuer’s business without requiring the issuer to
provide certificates and other documents under Trust Indenture Act Section
314(d). 

          Section
10.5 Notes Collateral Agent. 

          (a)
The Holders authorize the Trustee to appoint the Notes Collateral Agent, and
the Trustee, on the terms and conditions hereof, hereby irrevocably appoints
and authorizes the Notes Collateral Agent to act as its agent hereunder and
under the Security Documents, with such powers as are expressly delegated to
the Notes Collateral Agent by the terms of the Indenture and the Security
Documents. Without limiting the generality of the foregoing, the Notes
Collateral Agent shall, subject to the terms hereof, the Intercreditor
Agreements and the Security Documents: (i) receive the grant of the security
interests under the Security Agreement, (ii) hold, manage, receive, endorse and
collect on any Collateral, (iii) take all lawful and commercially reasonable
actions that the Notes Collateral Agent is directed to take by the Holders in
accordance with this Indenture or the Security Documents or are necessary or
advisable to protect or preserve the Collateral or the security interest of the
Notes Collateral Agent therein, (iv) deliver and receive notices pursuant to
the Security Documents, (v) sell, assign, foreclose on, institute legal
proceedings with respect to, or otherwise exercise the rights and remedies of a
secured party with respect to the Collateral, (vi) release or terminate the
security interests as provided herein and (vii) enter into the Intercreditor
Agreements by joinder thereto and the Series C Debt Documents (as defined in
the Security Agreement). The execution of this Supplemental Indenture by the
Notes Collateral Agent shall be deemed an acceptance by the Notes Collateral
Agent of the appointment made under this Section 10.5. 

          (b)
Subject to the Intercreditor Agreements, the duties and obligations of the
Notes Collateral Agent shall be determined solely by the express provisions of
this Indenture and any other Security Document to which it is a party and the
Notes Collateral Agent shall not be liable except for the performance of such
duties and obligations as are specifically set out in this Indenture or such
Security Document. The Notes Collateral Agent shall be under no liability to
any party hereto by reason of any failure on the part of any party hereto or
any maker, guarantor, endorser or other signatory of any document or any other
Person to perform such Person’s obligations under any such document. 

          (c)
The Notes Collateral Agent shall not be responsible in any manner for the
validity or sufficiency of this Indenture, the Security Documents or of any
Collateral delivered under the Security Documents, or for the value or
collectibility of any Obligations or other instrument, if any, so delivered, or
for any representations made or obligations assumed by any party other than the
Notes Collateral Agent. The Notes Collateral Agent shall not be bound to
examine or inquire into or be liable for any defect or failure in the right or
title of the Company or any Guarantor to all or any of such assets whether such
defect or failure was known to the Notes Collateral Agent 

-31-

or might have
been discovered upon examination or inquiry and whether capable of remedy of
not. 

          (d)
The Notes Collateral Agent shall not be responsible for any unsuitability,
inadequacy, expiration or unfitness of any security interest created hereunder
or pursuant to any other Security Document nor shall it be obligated to make
any investigation into, and shall be entitled to assume, the adequacy and
fitness of any security interest created hereunder or pursuant to any other
Security Document. 

          (e)
The Notes Collateral Agent shall not be liable for any error of judgment, or
for any act done or step taken or omitted by it in good faith or for any
mistake in act or law, or for anything which it may do or refrain from doing in
connection herewith, except its own gross negligence or willful misconduct. 

          (f)
The Notes Collateral Agent may seek the advice, at the expense of the Company,
of legal counsel (i) in the event of any dispute or (ii) any question as to the
construction of any of the provisions of this Indenture or an ambiguity with
respect to its duties hereunder or under any Security Document or applicable
law, and it shall incur no liability and shall be fully protected in respect of
any action taken, omitted or suffered by it in good faith in accordance with
the advice or written opinion of such counsel. 

          (g)
The Notes Collateral Agent 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, approval or other paper
or document. 

          (h)
In no event shall the Notes Collateral Agent be liable for any indirect,
special, punitive or consequential loss or damage of any kind whatsoever,
including, but not limited to, lost profits, even if such loss or damage was
foreseeable or it has been advised of the likelihood of such loss or damage and
regardless of the form of action. 

          (i)
In no event shall the Notes Collateral Agent be liable for any failure or delay
in the performance of its obligations hereunder because of circumstances beyond
its control, including, but not limited to, acts of God, flood, war (whether
declared or undeclared), terrorism, strikes, work stoppages, civil or military
disturbances, nuclear or natural catastrophes, fire, riot, embargo, loss or
malfunctions of utilities, communications or computer (software and hardware)
services, government action, including any laws, ordinances, regulations,
governmental action or the like which delay, restrict or prohibit the providing
of the services contemplated by this Indenture. 

          (j)
The Notes Collateral Agent agrees to accept and act upon facsimile transmission
of written instructions pursuant to this Indenture; provided, however, that (a)
the party providing such written instructions, subsequent to such transmission
of written instructions, shall provide the originally executed instructions or
directions to the Notes Collateral Agent in a timely manner, and (b) such
originally executed instructions or directions shall be signed by an authorized
representative of the party providing such instructions or directions. 

-32-

          (k)
In the event of (i) any dispute or (ii) any question as to the construction of
any of the provisions of this Indenture or an ambiguity with respect to its
duties hereunder or any of the Security Documents or applicable law, the Notes
Collateral Agent shall be entitled to seek written directions from the Holders
or their representative, prior to taking any action under this Indenture, the
Security Documents, any Collateral instrument or any other instrument or
document furnished pursuant thereto. 

          (l)
The Notes Collateral Agent shall not be responsible to any Holder for the due
execution, legality, validity, enforceability, genuineness, sufficiency or
value of, or the perfection or priority of any lien or security interest
created or purported to be created under or in connection with, any Security
Document or any other instrument or document furnished pursuant thereto. 

          
(m) The Notes Collateral Agent shall have no responsibility for or liability
with respect to monitoring compliance of any other party to the Security
Documents, this Indenture or any other document related thereto. The Notes
Collateral Agent has no duty to monitor the value or rating of any Collateral
on an ongoing basis. 

          (n)
No provision of this Indenture shall require the Notes Collateral Agent to
expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder or in any of the Security Documents
or in the exercise of any of its rights or powers hereunder or under any of the
Security Documents unless it is indemnified to its satisfaction and the Notes
Collateral Agent shall have no liability to any person for any loss occasioned
by any delay in taking or failure to take any such action while it is awaiting
an indemnity satisfactory to it. 

          (o)
Whenever in the administration of this Indenture the Notes Collateral Agent
shall deem it desirable that a matter be proved or established prior to taking,
suffering or omitting any action hereunder, the Notes Collateral Agent (unless
other evidence be herein specifically prescribed) may, in the absence of bad
faith on its part, conclusively rely upon an Officers’ Certificate and/or an
Opinion of Counsel. 

          (p)
The Notes Collateral Agent may act and rely and shall be protected in acting
and relying in good faith on the opinion or advice of, or information obtained
from, any counsel, accountant, investment banker, appraiser or other expert or
adviser, whether retained or employed by the Company or by the Notes Collateral
Agent or otherwise. 

          (q)
The Notes Collateral Agent shall be under no obligation to exercise any of the
rights or powers vested in it by this Indenture at the request or direction of
any of the Holders or their representative pursuant to this Indenture, unless
offered security or indemnity satisfactory to it against the costs, expenses
and liabilities which might be incurred by it in compliance with such request
or direction. 

          (r)
The Notes Collateral Agent may employ or retain such counsel, accountants,
subagent, agent or attorney in fact, appraisers or other experts or advisers as
it may reasonably require for the purpose of determining and discharging its
rights and duties hereunder and shall not be responsible for any misconduct on
the part of any of them. 

-33-

          (s)
The Notes Collateral Agent may request that the Company or other parties
deliver a certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this
Indenture. 

          (t)
Money held by the Notes Collateral Agent in trust hereunder need not be
segregated from other funds except to the extent required by law. The Notes
Collateral Agent shall be under no liability for interest on any money received
by it hereunder except as otherwise agreed in writing with the Company. 

          (u)
Beyond the exercise of reasonable care in the custody thereof and subject to
the Intercreditor Agreements, the Notes Collateral Agent shall have no duty as
to any Collateral in its possession or control or in the possession or control
of any agent or bailee or any income thereon or as to preservation of rights
against prior parties or any other rights pertaining thereto and the Notes
Collateral Agent shall not be responsible for filing any financing or
continuation statements or recording any documents or instruments in any public
office at any time or times or otherwise perfecting or maintaining the
perfection of any security interest in the Collateral. The Notes Collateral
Agent shall be deemed to have exercised reasonable care in the custody of the
Collateral in its possession if the Collateral is accorded treatment
substantially equal to that which other collateral agents accord similar
collateral and shall not be liable or responsible for any loss or diminution in
the value of any of the Collateral, by reason of the act or omission of any
carrier, forwarding agency or other agent or bailee. 

          (v)
The Notes Collateral Agent shall not be responsible for the existence,
genuineness or value of any of the Collateral or for the validity, perfection,
priority or enforceability of the Liens in any of the Collateral, whether
impaired by operation of law or by reason of any action or omission to act on
its part hereunder, except to the extent such action or omission constitutes
gross negligence, bad faith or willful misconduct on the part of the Notes
Collateral Agent, for the validity or sufficiency of the Collateral or any agreement
or assignment contained therein, for the validity of the title to the
Collateral, for insuring the Collateral or for the payment of taxes, charges,
assessments or Liens upon the Collateral or otherwise as to the maintenance of
the Collateral. The Notes Collateral Agent shall have no duty to ascertain or
inquire as to or monitor the performance or observance of any of the terms of
this Indenture or the Security Documents by any other Person. 

          (w)
The Company and the Guarantors shall on a joint and several basis defend,
indemnify, and hold harmless the Notes Collateral Agent from and against any
claims, demands, penalties, fines, liabilities, settlements, damages, costs, or
expenses of whatever kind or nature, known or unknown, contingent or otherwise,
arising out of, or in any way related to, (w) the presence, disposal, release,
or threatened release of any Hazardous Materials which are on, from, or
affecting the soil, water, vegetation, buildings, personal property, persons,
animals, or otherwise; (x) any personal injury (including wrongful death) or
property damage (real or personal) arising out of or related to such Hazardous
Materials; (y) any lawsuit brought or threatened, settlement reached, or
government order relating to such Hazardous Materials, and/or (z) any violation
of laws, orders, regulations, requirements or demands of government
authorities, which are based upon or in any way related to such Hazardous
Materials including, without limitation, attorney and consultant fees and expenses,
investigation and laboratory fees, court costs, and litigation expenses, in
each case relating to or arising out of this Indenture and 

-34-

the Security
Documents or the transactions contemplated hereby or thereby (including any
enforcement of any of the Security Documents and any sale of, collection from,
or other realization upon any of the Collateral or the enforcement of the Notes
Obligations). For purposes of this paragraph, “Hazardous Materials” includes, without limit, any flammable
explosives, radioactive materials, hazardous materials, hazardous wastes,
hazardous or toxic substances, or related materials defined in the U.S.
Comprehensive Environmental Response, Compensation, and Liability Act of 1980,
as amended (42 U.S.C. Sections 9601, et. seq.), the Hazardous Materials
Transportation Act, as amended (49 U.S.C. Sections 5108, et seq.), the Resource
Conservation and Recovery Act, as amended (42 U.S.C. Sections 6901, et seq.),
and in the regulations adopted and publications promulgated pursuant thereto,
or any other Federal, state or local environmental law, ordinance, rule, or
regulation. The provisions of this paragraph shall be in addition to any and
all other obligations and liabilities the Company may have to the Notes
Collateral Agent at common law, and shall survive the termination of this
Indenture. The provisions of this Section 10.5(w) shall survive the
satisfaction, termination or discharge of this Indenture or the earlier
resignation or removal of the Notes Collateral Agent. 

          (x)
The Company and the Guarantors jointly and severally agree (i) to pay to the
Notes Collateral Agent from time to time such compensation for all services
rendered by it hereunder as the Company and the Notes Collateral Agent shall
from time to time agree in writing, (ii) except as otherwise expressly provided
herein, to reimburse the Notes Collateral Agent upon its request for all
reasonable expenses, disbursements and advances incurred or made by the Notes
Collateral Agent in accordance with any provision of this Indenture (including
reasonable compensation and the expenses, advances and disbursements of its
agents and counsel), except any such expense, disbursement or advance as shall
be determined to have been caused by its own or its representatives’ or agents’
gross negligence or willful misconduct; and (iii) to indemnify the Notes
Collateral Agent (which for purposes of this Section 10.5(x) shall include its
officers, directors, employees and agents) for, and to hold it harmless
against, any loss, claim, damage, liability or expense incurred without gross
negligence or willful misconduct on its own or its representatives’ or agents’
part, arising out of or in connection with the acceptance or administration of
the agency or agencies under this Indenture, the Note Guarantees or the
Security Documents or the Registration Rights Agreement, including the
reasonable costs and expenses of defending itself against any claim or
liability in connection with the exercise or performance of any of its powers
or duties under such documents, except to the extent that any such loss,
liability, claim, damage or expense shall be determined to have been caused by
the Notes Collateral Agent’s own or its representatives’ or agents’ gross
negligence or willful misconduct. The provisions of this Section 10.5(x) shall
survive the satisfaction, termination or discharge of this Indenture or the
earlier resignation or removal of the Notes Collateral Agent. 

          (y)
The Notes Collateral Agent reserves the right to conduct an environmental audit
prior to foreclosing on any real estate Collateral or mortgage Collateral. The
Notes Collateral Agent reserves the right to forebear from foreclosing in its
own name if to do so may expose it to undue risk. 

          (z)
Upon any payment or distribution of assets hereunder, the Notes Collateral
Agent, and the Holders shall be entitled to conclusively rely upon any order or
decree entered by any court of competent jurisdiction in which such insolvency,
bankruptcy, receivership, liquidation, 

-35-

reorganization,
dissolution, winding up or similar case or proceeding is pending, or a
certificate of the trustee in bankruptcy, liquidating trustee, custodian,
receiver, assignee for the benefit of creditors, agent or other person making
such payment or distribution, delivered to the Notes Collateral Agent or to the
Holders, for the purpose of ascertaining the persons entitled to participate in
such payment or distribution, the amount thereof or payable thereon, the amount
or amounts paid or distributed thereon and all other facts pertinent thereto. 

          (aa)
The rights and protections of the Notes Collateral Agent set forth herein shall
also be applicable to the Notes Collateral Agent in its roles as mortgagee
(including letters of quiet enjoyment), beneficiary, pledgee or any of its
other roles under the Security Documents or any other agreement pertaining to
Collateral pledged to the Notes Collateral Agent. 

ARTICLE 11

SATISFACTION AND DISCHARGE; DEFEASANCE

AND COVENANT DEFEASANCE

          Section
11.1 Satisfaction and Discharge.  

          (a)
This Indenture shall be discharged and shall cease to be of further effect as
to all Notes of any series issued hereunder, when: 

	
  

 	
  

 
	
  

 	
 (i) either: 

 
	
  

 	
  

 
	
  

 	
           (1)
 all Notes of such series that have been authenticated, except lost, stolen or
 destroyed Notes that have been replaced or paid and Notes for whose payment
 money has been deposited in trust and thereafter repaid to the Company, have
 been delivered to the Trustee for cancellation; or 

 
	
  

 	
  

 
	
  

 	
           (2)
 all Notes of such series that have not been delivered to the Trustee for
 cancellation have become due and payable by reason of the mailing of a notice
 of redemption or otherwise or shall become due and payable within one year
 and the Company or any Guarantor has irrevocably deposited or caused to be
 deposited with the Trustee as trust funds in trust solely for the benefit of
 the Holders of Notes of such series, Cash in U.S. dollars, non-callable
 Government Obligations, or a combination of Cash in U.S. dollars and
 non-callable Government Obligations, in amounts as shall be sufficient,
 without consideration of any reinvestment of interest, to pay and discharge
 the entire Indebtedness on the Notes of such series not delivered to the Trustee
 for cancellation for principal, premium, if any, and accrued interest,
 including Additional Interest, if any, to the date of maturity or redemption;
 

 

	
  

 	
  

 
	
  

 	
           (ii)
 with respect to such series of Notes, no Default or Event of Default has
 occurred and is continuing on the date of the deposit (other than a Default
 or Event of Default resulting from the borrowing of funds to be applied to
 such deposit and the grant of any Lien securing such borrowing) and the
 deposit shall not result in a breach or violation of, or constitute a default
 under, any other material agreement or instrument to 

 

-36-

	
  

 	
  

 
	
  

 	
 which the
 Company or any Guarantor is a party or by which the Company or any Guarantor
 is bound; 

 
	
  

 	
  

 
	
  

 	
           (iii)
 the Company or any Guarantor has paid or caused to be paid all sums payable
 by it under this Indenture with respect to the Notes of such series; and 

 
	
  

 	
  

 
	
  

 	
           (iv)
 the Company has delivered irrevocable instructions to the Trustee under this
 Indenture to apply the deposited money toward the payment of the Notes of
 such series at maturity or on the redemption date, as the case may be. 

 

          (b)
The Company must deliver an Officers’ Certificate and an Opinion of Counsel to
the Trustee stating that all conditions precedent to satisfaction and discharge
have been satisfied. 

          (c)
The Collateral shall be released from the Lien securing the Notes upon a
satisfaction and discharge in accordance with this Section 11.1. 

          (d)
Notwithstanding the satisfaction and discharge of the Indenture with respect to
any series of Notes, the Obligations of the Company to the Trustee under
Section 6.7 of the Base Indenture and, if money shall have been deposited with
the Trustee pursuant to Section 11.1(a)(i)(2) hereof, the Obligations of the
Company and the Trustee with respect to the Notes under Sections 3.5, 3.6, 4.3,
10.2 and 10.3 of the Base Indenture, and with respect to any rights to convert
or exchange such Notes into securities of the Company or another issuer, shall
survive such satisfaction and discharge. 

          (e)
Section 4.1 of the Base Indenture shall not apply to the Notes. 

          Section
11.2 Legal Defeasance and Covenant Defeasance. 

          (a)
The Company may at its option and at any time, elect to have all of its
obligations discharged with respect to the outstanding Notes of any series and
all obligations of the Guarantors discharged with respect to their Note
Guarantees of such series (“Legal Defeasance”) except for:  

	
  

 	
  

 
	
  

 	
           (i)
 the rights of Holders of Outstanding Notes of such series to receive payments
 in respect of the principal of, or interest including Additional Interest, if
 any, or premium, if any, on, such Notes when such payments are due from the
 trust referred to in Section 11.2(c); 

 
	
  

 	
  

 
	
  

 	
           (ii)
 the Company’s obligations with respect to the Notes of such series concerning
 issuing temporary Notes, registration of Notes, mutilated, destroyed, lost or
 stolen Notes and the maintenance of an office or agency for payment and money
 for security payments held in trust; 

 
	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
           (iv)
 this Section 11.2. 

 

-37-

          (b)
The Company may, at its option and at any time, elect to have the Obligations
of the Company and the Guarantors released with respect to Sections 3.3 and 7.1
through 7.4 hereof with respect to Notes of any series (“Covenant Defeasance”),
and thereafter any omission to comply with those covenants shall not constitute
a Default or Event of Default with respect to the Notes of such series. In the
event Covenant Defeasance occurs, the events set forth under Section
8.1(a)(iii), (iv), (v), (vi), (viii) and (ix) hereof shall no longer constitute
an Event of Default with respect to the Notes of such series.  

          (c)
The following shall be the conditions to the application of Section 11.2(a) or
(b) to any Outstanding Notes of any series: 

	
  

 	
  

 
	
  

 	
           (i)
 The Company must irrevocably deposit with the Trustee, in trust, for the
 benefit of the Holders of such series, Cash in U.S. dollars, non-callable
 Government Obligations, or a combination of Cash in U.S. dollars and
 non-callable Government Obligations, in amounts as shall be sufficient, in
 the opinion of a nationally recognized investment bank, appraisal firm or
 firm of independent public accountants, to pay the principal of, or interest,
 premium, if any, and Additional Interest, if any, on, the Outstanding Notes
 of such series on the stated date for payment thereof or on the applicable
 redemption date, as the case may be, and the Company must specify whether
 such Notes are being defeased to such stated date for payment or to a
 particular redemption date; 

 
	
  

 	
  

 
	
  

 	
           (ii)
 in the case of Legal Defeasance, the Company must deliver to the Trustee an
 Opinion of Counsel reasonably acceptable to the Trustee confirming that (1)
 the Company has received from, or there has been published by, the Internal
 Revenue Service a ruling or (2) since the Issue Date, there has been a change
 in the applicable federal income tax law, in either case to the effect that,
 and based thereon such Opinion of Counsel shall confirm that, the Holders of
 the Outstanding Notes of such series shall not recognize income, gain or loss
 for federal income tax purposes as a result of such Legal Defeasance and
 shall be subject to federal income tax on the same amounts, in the same
 manner and at the same times as would have been the case if such Legal
 Defeasance had not occurred; 

 
	
  

 	
  

 
	
  

 	
           (iii)
 in the case of Covenant Defeasance, the Company must deliver to the Trustee
 an Opinion of Counsel reasonably acceptable to the Trustee confirming that
 the Holders of the Outstanding Notes shall not recognize income, gain or loss
 for federal income tax purposes as a result of such Covenant Defeasance and
 shall be subject to federal income tax on the same amounts, in the same
 manner and at the same times as would have been the case if such Covenant Defeasance
 had not occurred; 

 
	
  

 	
  

 
	
  

 	
           (iv)
 no Default or Event of Default has occurred and is continuing on the date of
 such deposit (other than a Default or Event of Default resulting from the
 borrowing of funds to be applied to such deposit and the grant of any Lien
 securing such borrowing); 

 
	
  

 	
  

 
	
  

 	
           (v)
 such Legal Defeasance or Covenant Defeasance shall not result in a breach or
 violation of, or constitute a default under, any material agreement or
 instrument 

 

-38-

	
  

 	
  

 
	
  

 	
 (other than
 this Indenture) to which the Company or any Guarantor is a party or by which
 the Company or any Guarantor is bound; 

 
	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
           (vii)
 the Company must deliver to the Trustee an Officers’ Certificate and an
 Opinion of Counsel, each stating that all conditions precedent relating to
 the Legal Defeasance or the Covenant Defeasance have been complied with. 

 
	
  

 	
  

 
	
           (d)
 The Collateral shall be automatically released from the Lien securing the
 Notes of such series upon a Legal Defeasance or Covenant Defeasance. 

 
	
  

 	
  

 
	
           (e)
 Section 4.2 of the Base Indenture shall not apply to the Notes. 

 

ARTICLE 12

MISCELLANEOUS

          Section
12.1 Ratification of Indenture. The Base Indenture, as supplemented by
this Supplemental Indenture, is in all respects ratified and confirmed, and
this Supplemental Indenture shall be deemed part of this Indenture in the
manner and to the extent herein and therein provided. 

          Section
12.2 No Personal Liability of Directors, Officers, Employees and
Stockholders. No director, officer, employee, incorporator or stockholder
of the Company, any Guarantor or any of their Affiliates, will have any
liability for any Obligation of the Company or the Guarantors under the Notes,
this Indenture, the Note Guarantees, the Security Documents or the Registration
Rights Agreement or for any claim based on, in respect of, or by reason of,
such Obligations or their creation. Each Holder of Notes by accepting a Note
waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Notes. The waiver may not be effective to
waive liabilities under the federal securities laws. For the avoidance of
doubt, nothing in this Section 12.2 shall affect, limit, waive, release or
impair in any way any obligation, covenant or agreement contained in the CIT
Leasing Support Agreements or any right or claim based thereon or otherwise in
respect thereof. 

          Section
12.3 Subordination. Notwithstanding anything herein to the contrary, the
payment obligations hereunder are subject to the provisions of: (i) the Senior
Intercreditor Agreement and (ii) the Junior Intercreditor Agreement. In the
event of any conflict between the terms of the Senior Intercreditor Agreement,
the Junior Intercreditor Agreement and this Indenture, the terms of the Senior
Intercreditor Agreement shall govern and control; and in the event of any
conflict between the terms of the Junior Intercreditor Agreement and this
Indenture, the terms of the Junior Intercreditor Agreement shall govern and
control. 

-39-

          Section
12.4 Trustee Not Responsible for Recitals. The recitals herein contained
are made by the Company and not by the Trustee, and the Trustee assumes no
responsibility for the correctness thereof. The Trustee makes no representation
as to the validity or sufficiency of this Supplemental Indenture. 

          Section
12.5 New York Law To Govern. THIS SUPPLEMENTAL INDENTURE AND EACH NOTE
SHALL BE DEEMED TO BE CONTRACTS MADE UNDER THE LAWS OF THE STATE OF NEW YORK
AND SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED WHOLLY
WITHIN SUCH STATE. 

          Section
12.6 Separability. In case any one or more of the provisions contained
in this Supplemental Indenture or in the Notes shall for any reason be held to
be invalid, illegal or unenforceable in any respect, then, to the extent
permitted by law, such invalidity, illegality or unenforceability shall not
affect any other provisions of this Supplemental Indenture or of the Notes, but
this Supplemental Indenture and the Notes shall be construed as if such invalid
or illegal or unenforceable provision had never been contained herein or
therein. 

          Section
12.7 Counterparts. This Supplemental 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.
Delivery of an executed counterpart of this Supplemental Indenture by
telefacsimile or by any electronic imaging, electronic mail or other similar
means shall be effective as delivery of a manually executed counterpart of this
Supplemental Indenture. 

          Section
12.8 Parent Pledge Collateral Agent. The parties hereto acknowledge and
accept that the Series C Parent Collateral Agent is not an agent solely for the
Holders, but is also acting as an agent for the trustee under the Long-Dated
Senior Notes Indenture. In addition, the parties hereto acknowledge and accept
that the Lien on the Collateral of the Company in favor of the Series C Parent
Collateral Agent secures not only the Obligations under this Indenture, but
also the Long-Dated Senior Notes Obligations. 

-40-

          IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to
be duly executed, as of the date first above written 

	
  

 	
  

 	
  

 
	
  

 	
 Deutsche Bank Trust
 Company Americas, as Trustee, Series C Parent Collateral Agent and Series C
 Subsidiary Collateral Agent

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
 /s/ Irene Siegel

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name: Irene Siegel

 
	
  

 	
  

 	
 Title: Vice President

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
 /s/ Maria Inoa

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name: Maria Inoa

 
	
  

 	
  

 	
 Title: Associate

 

	
  

 	
  

 	
  

 
	
  

 	
 CIT GROUP INC.

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
 /s/ Glenn A. Votek

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name: Glenn A. Votek

 
	
  

 	
  

 	
 Title: Executive Vice
 President & Treasurer

 

	
  

 	
  

 
	
  

 	
 GUARANTORS:

 
	
  

 	
  

 
	
  

 	
 C.I.T. LEASING CORPORATION

 
	
  

 	
 CAPITA COLOMBIA HOLDINGS CORP.

 
	
  

 	
 CAPITA CORPORATION

 
	
  

 	
 CAPITA INTERNATIONAL L.L.C.

 
	
  

 	
 CIT CAPITAL USA INC.

 
	
  

 	
 CIT CHINA 12, INC.

 
	
  

 	
 CIT CHINA 13, INC.

 
	
  

 	
 CIT CHINA 3, INC.

 
	
  

 	
 CIT COMMUNICATIONS FINANCE CORPORATION

 
	
  

 	
 CIT CREDIT FINANCE CORP. 

 
	
  

 	
 CIT CREDIT GROUP USA INC. 

 
	
  

 	
 CIT FINANCIAL LTD. OF PUERTO RICO

 
	
  

 	
 CIT FINANCIAL USA, INC. 

 
	
  

 	
 CIT GROUP (NJ) LLC 

 
	
  

 	
 CIT GROUP SF HOLDING CO., INC. 

 
	
  

 	
 CIT HEALTHCARE LLC 

 
	
  

 	
 CIT LENDING SERVICES CORPORATION 

 
	
  

 	
 CIT LENDING SERVICES CORPORATION
 (ILLINOIS)

 
	
  

 	
 CIT LOAN CORPORATION (F/K/A THE

 
	
  

 	
 CIT GROUP/CONSUMER FINANCE, INC.)

 
	
  

 	
 CIT MIDDLE MARKET FUNDING COMPANY, LLC

 
	
  

 	
 CIT MIDDLE MARKET HOLDINGS, LLC 

 
	
  

 	
 CIT TECHNOLOGIES CORPORATION 

 
	
  

 	
 CIT TECHNOLOGY FINANCING SERVICES, INC.

 
	
  

 	
 CMS FUNDING COMPANY LLC

 
	
  

 	
 EQUIPMENT ACCEPTANCE CORPORATION

 
	
  

 	
 NAMEKEEPERS LLC

 
	
  

 	
 STUDENT LOAN XPRESS, INC. 

 
	
  

 	
 THE CIT GROUP/BC SECURITIES INVESTMENT, INC.

 
	
  

 	
 THE CIT GROUP/BUSINESS CREDIT, INC.

 
	
  

 	
 THE CIT GROUP/CAPITAL FINANCE, INC.

 
	
  

 	
 THE CIT GROUP/CMS SECURITIES INVESTMENT, INC.

 
	
  

 	
 THE CIT GROUP/COMMERCIAL SERVICES, INC.

 
	
  

 	
 THE CIT GROUP/COMMERCIAL SERVICES, INC.
 (VA.)

 

[Supplemental Indenture Signature Page]

	
  

 	
  

 
	
  

 	
 THE CIT GROUP/CORPORATE
 AVIATION, INC. 

 
	
  

 	
 THE CIT GROUP/EQUIPMENT
 FINANCING, INC. 

 
	
  

 	
 THE CIT GROUP/EQUITY
 INVESTMENTS, INC. 

 
	
  

 	
 THE CIT GROUP/FACTORING
 ONE, INC. 

 
	
  

 	
 THE CIT GROUP/FM
 SECURITIES INVESTMENT, INC.

 
	
  

 	
 THE CIT GROUP/LSC
 SECURITIES INVESTMENT, INC. 

 
	
  

 	
 THE CIT GROUP/VENTURE
 CAPITAL, INC. 

 

	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
 /s/ Glenn A. Votek

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name: Glenn A. Votek 

 
	
  

 	
  

 	
 Title: Treasurer

 

	
  

 	
  

 	
  

 
	
  

 	
 THE CIT GROUP/CONSUMER
 FINANCE, INC. (NY)

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
 /s/ Glenn A. Votek

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name: Glenn A. Votek

 
	
  

 	
  

 	
 Title: Assistant Treasurer

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
 FRANCHISE PORTFOLIO 1, INC.

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
 /s/ Glenn A. Votek

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name: Glenn A. Votek

 
	
  

 	
  

 	
 Title: Executive Vice
 President

 

EXHIBIT A-1

[FORM OF FACE OF INITIAL SECURITY] 

[Global Securities Legend]

          UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN. 

          TRANSFERS
OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND
TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN
ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE
REVERSE HEREOF. 

          [[FOR
REGULATION S GLOBAL NOTE ONLY] UNTIL 40 DAYS AFTER THE LATER OF COMMENCEMENT OR
COMPLETION OF THE OFFERING, AN OFFER OR SALE OF SECURITIES WITHIN THE UNITED
STATES BY A DEALER (AS DEFINED IN THE SECURITIES ACT) MAY VIOLATE THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IF SUCH OFFER OR SALE IS MADE
OTHERWISE THAN IN ACCORDANCE WITH RULE 144A THEREUNDER.] 

[Restricted Securities Legend]

          THE
SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS
ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE
SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED OR
OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE
EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY
NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF
SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF
THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A)
SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (i) (a) TO A
PERSON WHO IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) 

Exhibit A-1-1

IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b) IN A TRANSACTION MEETING
THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c) OUTSIDE THE UNITED
STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
904 UNDER THE SECURITIES ACT, OR (d) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION
OF COUNSEL IF THE COMPANY SO REQUESTS), (ii) TO THE COMPANY, OR (iii) PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE IN ACCORDANCE WITH ANY
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
APPLICABLE JURISDICTION, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS
REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY OF
THE RESALE RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE
MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF
THE SECURITY EVIDENCED HEREBY. 

[Additional Restricted Securities Legend for
Securities Offered in Reliance on Regulation S]

          THIS
SECURITY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER
THE SECURITIES ACT, AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR
FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL
APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO
THEM IN REGULATION S UNDER THE SECURITIES ACT. 

[Definitive Securities Legend]

          IN
CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE SECURITY REGISTRAR
AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER
AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE
FOREGOING RESTRICTIONS. 

Exhibit A-1-2

CUSIP No.
[               ]

ISIN No.
[                  ]

	
  

 	
  

 
	
 No. ________

 	
 $________ 

 

5.250% Series C Second-Priority Secured Notes
due 2014 (the “Notes”)

          CIT
GROUP INC., a Delaware corporation, promises to pay to Cede & Co., or
registered assigns, the principal sum of
$[                
] Dollars on April 1, 2014. 

          Interest
Payment Dates: April 1 and October 1. 

          Record
Dates: March 15 and September 15. 

Exhibit A-1-3

          Additional
provisions of this Note are set forth on the other side of this Note.

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Dated:

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 CIT GROUP
 INC.

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
 By: 

 	
  

 
	
  

 	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 	
 Name:

 
	
  

 	
  

 	
  

 	
  

 	
 Title:

 
	
  

 
	
 Attest:

 	
  

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	
  

 	
  

 
	
  

 	
 Name:

 	
  

 	
  

 	
  

 
	
  

 	
 Title:

 	
  

 	
  

 	
  

 

Exhibit A-1-4

	
  

 
	
 TRUSTEE’S
 CERTIFICATE OF

 
	
 AUTHENTICATION 

 

	
  

 
	
 DEUTSCHE
 BANK TRUST COMPANY AMERICAS

 
	
 as Trustee,
 certifies

 
	
 that this is one of

 
	
 the Notes referred 

 
	
 to in the Indenture. 

 

	
  

 	
  

 	
  

 
	
 by

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
 Authorized Signatory

 	
  

 

Exhibit A-1-5

FORM OF REVERSE SIDE OF INITIAL SECURITY

1. Interest

          CIT
GROUP INC., a Delaware corporation (such corporation, and its successors and
assigns under the Indenture hereinafter referred to, being herein called the
“Company”), promises to pay interest on the principal amount of this Note at
the rate per annum shown above. The Company shall pay interest semiannually on
April 1 and October 1 of each year, commencing October 1, 2011. Interest on the
Notes shall accrue from the most recent date to which interest has been paid
or, if no interest has been paid, from March 30, 2011. Interest shall be
computed on the basis of a 360-day year of twelve 30-day months. 

2. Method of Payment 

          The
Company shall pay interest on the Notes (except defaulted interest) to the
Persons who are registered holders of Notes at the close of business on the
March 15 and September 15 next preceding the interest payment date even if
Notes are canceled after the record date and on or before the interest payment
date. Holders must surrender Notes to a Paying Agent to collect principal
payments. The Company shall pay principal and interest in money of the United
States that at the time of payment is legal tender for payment of public and
private debts. Payments in respect of the Notes represented by a Global Note
(including principal, premium, if any, and interest) shall be made by wire
transfer of immediately available funds to the accounts specified by The
Depository Trust Company. The Company shall make all payments in respect of a
certificated Security (including principal, premium, if any, and interest) by
mailing a check to the registered address of each Holder thereof; provided,
however, that payments on a certificated Security shall be made by wire
transfer to a U.S. dollar account maintained by the payee with a bank in the
United States if such Holder elects payment by wire transfer by giving written
notice to the Trustee or the Paying Agent to such effect designating such
account no later than 30 days immediately preceding the relevant due date for
payment (or such other date as the Trustee may accept in its discretion). 

3. Paving Agent and Security Registrar 

          Initially,
Deutsche Bank Trust Company Americas (the “Trustee”), shall act as Paying Agent
and Security Registrar. The Company may appoint and change any Paying Agent,
Security Registrar or co-registrar without notice. The Company or any wholly
owned Subsidiary may act as Paying Agent, Security Registrar or co-registrar. 

4. Indenture

          The
Company issued the Notes under an Indenture (the “Base Indenture”) dated as of
March 30, 2011 and a Supplemental Indenture (the “Supplemental Indenture” and
together with the Base Indenture, the “Indenture”) dated as of March 30, 2011,
among the Company, the Subsidiary Guarantors and the Trustee. The terms of the
Notes include those stated in the 

Exhibit A-1-6

Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of
1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the Indenture (the
“Act”). Terms defined in the Indenture and not defined herein have the meanings
ascribed thereto in the Indenture. The Notes are subject to all such terms, and
Holders are referred to the Indenture and the Act for a statement of those terms. 

          The
Notes are general unsecured obligations of the Company. The Company shall be
entitled, to issue Additional Securities pursuant to Section 3.12 of the Base
Indenture. The Notes issued on the Issue Date and any Additional Securities shall
be treated as a single class for all purposes under the Indenture. 

5. Optional
Redemption 

          At
any time and from time to time, the Company may redeem all or a part of the
Notes, upon not less than 30 nor more than 60 days’ notice to each holder of
Notes, at a redemption price equal to the greater of: 

	
  

 	
  

 
	
  

 	
           (1)
 100% of the principal amount of the Notes redeemed, and 

 
	
  

 	
  

 
	
  

 	
           (2)
 the sum of the present values of the remaining scheduled payments of
 principal and interest on the Notes to be redeemed that would be due after
 the related redemption date but for such redemption (exclusive of interest
 accrued to the redemption date) discounted to the redemption date on a
 semiannual basis (assuming a 360-day year consisting of twelve 30-day months)
 at the applicable Treasury Yield plus 50 basis points; 

 

          plus,
in either case, accrued and unpaid interest, and Additional Interest, if any,
to the date of redemption, subject to the rights of Holders of such Notes on a
relevant record date to receive interest due on a relevant Interest Payment
Date. 

          In
addition to the Company’s right to redeem Notes as set forth in Section 3.2 of
the Supplemental Indenture, the Company may at any time and from time to time
purchase Notes in open market transactions, tender offers or otherwise. 

6. Notice
of Redemption 

          If
less than all of the Notes of a series are to be redeemed at any time, the
Notes shall be redeemed on a pro rata
basis in accordance with Section 11.3 of the Base Indenture. 

          Any
redemption of Notes pursuant to Section 3.2 of the Supplemental Indenture that
is in part processed through DTC shall be treated in accordance with the rules
and procedures of DTC as a “Pro Rata Pass-Through Distribution of Principal”
(as defined under such rules and procedures). Except to the extent modified by
the Indenture, the provisions of Article 11 of the Base Indenture shall apply
to redemptions of Notes pursuant to Section 3.2 of the Supplemental Indenture. 

Exhibit A-1-7

7. Change
of Control 

          Upon
the occurrence of a Change of Control Triggering Event, the Company will be
obligated to make an offer to purchase and each Holder of Notes will have the
right to require the Company to purchase all or any part (equal to $2,000 in
principal amount or an integral multiple of $1,000 in principal amount in
excess thereof) of that Holder’s Notes on the terms set forth herein. In the
Change of Control Offer, the Company will offer a Change of Control Payment in
cash equal to 101% of the aggregate principal amount of Notes purchased plus
accrued and unpaid interest and Additional Interest, if any, on the Notes
purchased to the date of purchase, subject to the rights of Holders of Notes on
the relevant record date to receive interest due on the relevant Interest
Payment Date. 

8. Guarantees

          The
payment by the Company of the principal of, and premium and interest on, the
Notes is fully and unconditionally guaranteed on a joint and several senior
basis by each of the Guarantors on the terms set forth in the Indenture. 

9. Denominations;
Transfer; Exchange 

          The
Notes are in registered form without coupons in denominations of $2,000
principal amount and whole multiples of $1,000 in excess thereof. A Holder may
transfer or exchange Notes in accordance with the Indenture. The Security
Registrar may require a Holder, among other things, to furnish appropriate
endorsements or transfer documents and to pay any taxes and fees required by
law or permitted by the Indenture. The Security Registrar need not register the
transfer of or exchange any Notes selected for redemption (except, in the case
of a Note to be redeemed in part, the portion of the Note not to be redeemed)
or any Notes for a period of 15 days before a selection of Notes to be redeemed
or 15 days before an interest payment date. 

10. Persons
Deemed Owners 

          The
registered Holder of this Note may be treated as the owner of it for all
purposes. 

11. Discharge
and Defeasance 

          Subject
to certain conditions, the Company at any time shall be entitled to terminate
some or all of its obligations under the Notes of any series and the Indenture,
including the Guarantees, if the Company deposits with the Trustee Cash in U.S.
dollars, non-callable Government Obligations, or a combination of Cash in U.S.
dollars and non-callable Government Obligations, in amounts as shall be
sufficient, without consideration of any reinvestment of interest, to pay and
discharge the entire Indebtedness on the Notes of any series not delivered to
the Trustee for 

Exhibit A-1-8

cancellation
for principal, premium, if any, and accrued interest, including Additional
Interest, if any, to the date of maturity or redemption. 

12. Defaults and Remedies 

          Under
the Indenture, Events of Default include: 

	
  

 	
  

 
	
  

 	
           (i)
 default for 30 days in the payment when due of interest on the Notes; 

 
	
  

 	
  

 
	
  

 	
           (ii)
 default in the payment when due (at maturity, upon redemption or otherwise)
 of the principal of, or premium, if any, on, the Notes; 

 
	
  

 	
  

 
	
  

 	
           (iii)
 failure for 3 business days by the Company to comply with Sections 3.3 or 7.2
 of the Supplemental Indenture; 

 
	
  

 	
  

 
	
  

 	
           (iv)
 failure by the Company for 60 days after written notice to the Company by the
 Trustee or the Holders of at least 25% in aggregate principal amount of the
 Pari Passu Notes then Outstanding voting as a single class to comply with any
 of the other agreements in the Indenture; 

 
	
  

 	
  

 
	
  

 	
           (v)
 default under any mortgage, indenture or instrument under which there may be
 issued or by which there may be secured or evidenced any Indebtedness for
 money borrowed by the Company or any of its Significant Subsidiaries (or the
 payment of which is guaranteed by the Company or any of its Significant Subsidiaries),
 whether such Indebtedness or Guarantee now exists, or is created after the
 Issue Date, if that default: 

 

	
  

 	
  

 
	
  

 	
           (1)
 is caused by a failure to pay any scheduled installment of principal on such
 Indebtedness prior to the expiration of the grace period provided in such
 Indebtedness on the date of such default (a “Payment Default”); or 

 
	
  

 	
  

 
	
  

 	
           (2)
 results in the acceleration of such Indebtedness prior to its express
 maturity, 

 

	
  

 	
  

 
	
  

 	
 and, in each
 case, the principal amount of any such Indebtedness, together with the
 principal amount of any other such Indebtedness under which there has been a
 Payment Default or the maturity of which has been so accelerated, aggregates
 $250.0 million or more;

 
	
  

 	
  

 
	
  

 	
           (vi)
 failure by the Company or any of its Significant Subsidiaries to pay final
 and non-appealable judgments entered by a court or courts of competent
 jurisdiction aggregating in excess of $250.0 million (net of any amounts
 covered by insurance), which judgments are not paid, discharged or stayed for
 a period of 60 days; 

 
	
  

 	
  

 
	
  

 	
           (vii)
 with respect to the Company or any of its Significant Subsidiaries, (x) a
 court of competent jurisdiction enters an order or decree under any
 applicable Bankruptcy Law that: (A) is for relief against such Person or
 Persons in an involuntary case; (B) 

 

Exhibit A-1-9

	
  

 	
  

 
	
  

 	
 appoints a
 Bankruptcy Custodian of such Person or Persons or for all or substantially
 all of the property of such Person or Persons; or (C) orders the liquidation
 of such Person or Persons; and, in each case, the order or decree remains
 unstayed and in effect for 60 consecutive days; or (y) the commencement by
 such Person or Persons of a voluntary proceeding under any applicable
 bankruptcy, insolvency, reorganization (other than a reorganization under a
 foreign law that does not relate to insolvency) or other similar law or of a
 voluntary proceeding seeking to be adjudicated insolvent or the consent by
 such Person or Persons to the entry of a decree or order for relief in an
 involuntary proceeding under any applicable bankruptcy, insolvency,
 reorganization or other similar law or to the commencement of any insolvency
 proceedings against it or them, or the filing by such Person or Persons of a
 petition or answer or consent seeking reorganization, arrangement, adjustment
 or composition of such Person or Persons under any such applicable law, or
 the consent by such Person or Persons to the filing of such petition or to
 the appointment of or taking possession by a custodian, receiver, liquidator,
 assignee, trustee or similar official of such Person or Persons or any
 substantial part of the property of such Person or Persons or the making by
 such Person or Persons of an assignment for the benefit of creditors, or the
 taking of corporate action by such Person or Persons in furtherance of any
 such action or the admitting in writing by such Person or Persons of its or
 their inability to pay its or their debts generally as they become due; 

 
	
  

 	
  

 
	
  

 	
           (viii)
 (x) any Note Guarantee with respect to a Note of any Guarantor that is a
 Significant Subsidiary, (A) ceases to be in full force and effect (other than
 in accordance with the terms of such Note Guarantee or Guarantees, as
 applicable, and the Indenture) or (B) is declared null and void and unenforceable
 or found to be invalid or (y) any Guarantor that is a Significant Subsidiary
 denies its liability under its Note Guarantee with respect to a Note of such
 series (other than by reason of release of a Guarantor from its Note
 Guarantee in accordance with the terms of the Indenture and the Note
 Guarantee); and 

 
	
  

 	
  

 
	
  

 	
           (ix)
 any security interest and Lien purported to be created by any Security
 Document with respect to any Collateral, individually or in the aggregate,
 having a fair market value in excess of $250.0 million shall cease to be in
 full force and effect, or shall cease to give the Notes Collateral Agent, for
 the benefit of the Holders, the Liens, rights, powers and privileges
 purported to be created and granted thereby (including a perfected
 second-priority security interest in and Lien on, all of the Collateral
 thereunder (except as otherwise expressly provided in the Indenture, the
 Security Documents and the Intercreditor Agreements)) in favor of the Notes
 Collateral Agent, or shall be asserted by the Company or any Guarantor to not
 be, a valid, perfected, second-priority (except as otherwise expressly
 provided in the Indenture, the Security Documents or any Intercreditor
 Agreement) security interest in or Lien on such Collateral covered thereby;
 except to the extent that any such loss of perfection or priority results
 from the failure of the Notes Collateral Agent or the Trustee (or an agent or
 trustee on its behalf) to maintain possession of certificates actually
 delivered to it (or such agent or trustee) representing securities pledged
 under the Security Documents. 

 

Exhibit A-1-10

13. No
Recourse Against Others 

          No
director, officer, employee, incorporator or stockholder of the Company or any
Guarantor, as such, will have any liability for any obligations of the Company
or the Guarantors under the Notes, the Indenture, the Guarantees, the Security
Documents or the Registration Rights Agreement or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each holder of
Notes by accepting a Note waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes. The waiver
may not be effective to waive liabilities under the federal securities laws. 

14. Authentication

          This
Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the
other side of this Note. 

15. Abbreviations

          Customary
abbreviations may be used in the name of a Holder or an assignee, such as TEN
COM (=tenants in common), TEN ENT (=tenants by the entireties), IT TEN (joint
tenants with rights of survivorship and not as tenants in common), CUST
(=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

16. CUSIP
Numbers 

          The
Company has caused CUSIP numbers to be printed on the Notes and has directed
the Trustee to use CUSIP numbers in notices of redemption as a convenience to
Holders. No representation is made as to the accuracy of such numbers either as
printed on the Notes or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon. 

17. Governing
Law 

          THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER
THE LAWS OF THE STATE OF NEW YORK AND SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED WHOLLY WITHIN SUCH STATE. 

Exhibit A-1-11

ASSIGNMENT FORM

	
  

 	
  

 
	
 To assign
 this Note, fill in the form below:

 	
  

 
	
  

 	

 

 

	
  

 	
  

 
	
 I or we
 assign and transfer this Note to

 	
  

 
	
  

 	

 

 
	
  

 	
 (Print or type assignee’s name, address and zip code)

 
	
  

 
	

 

 
	
 (Insert assignee’s sec. sec. or tax I.D. No.)

 

and irrevocably appoint ____________________________________ agent to
transfer this Note on the books of the Company. The agent may substitute
another to act for him. 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date:

 	
  

 	
  

 	
 Your
 Signature:

 	
  

 
	
  

 	

 

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 	
 Sign exactly
 as your name appears

 on the other side of this Note.

 

Exhibit A-1-12

CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR REGISTRATION OF TRANSFER RESTRICTED SECURITIES 

This certificate relates to $_________ principal amount of Notes held in definitive
form by the undersigned. 

The undersigned has requested the Trustee by written order to exchange or register
the transfer of a Note or Notes. 

In connection with any transfer of any of the Notes evidenced by this certificate occurring
prior to the expiration of the period referred to in Rule 144 under the
Securities Act, the undersigned confirms that such Notes are being transferred
in accordance with its terms: 

CHECK ONE BOX BELOW 

	
  

 	
  

 	
  

 	
  

 
	
 o

 	
 (1)

 	 	
 to the Company; or

 
	
  

 	
  

 	 	
  

 
	
 o

 	
 (2)

 	 	
 to the Security Registrar for registration
 in the name of the Holder, without transfer; or

 
	
  

 	
  

 	 	
  

 
	
 o

 	
 (3)

 	 	
 pursuant to an effective registration
 statement under the Securities Act of 1933; or

 
	
  

 	
  

 	 	
  

 
	
 o

 	
 (4)

 	 	
 inside the United States to a “qualified
 institutional buyer” (as defined in Rule 144A under the Securities Act of
 1933) that purchases for its own account or for the account of a qualified
 institutional buyer to whom notice is given that such transfer is being made
 in reliance on Rule 144A, in each case pursuant to and in compliance with
 Rule 144A under the Securities Act of 1933; or

 
	
  

 	
  

 	 	
  

 
	
 o

 	
 (5)

 	 	
 outside the United States in an offshore
 transaction within the meaning of Regulation S under the Securities Act in
 compliance with Rule 904 under the Securities Act of 1933; or

 
	
  

 	
  

 	 	
  

 
	
 o

 	
 (6)

 	 	
 to an institutional “accredited investor”
 (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of
 1933) that has furnished to the Trustee a signed letter containing certain
 representations and agreements; or

 

Exhibit A-1-13

	
  

 	
  

 	
  

 	
  

 
	
 o

 	
 (7)

 	 	
 pursuant to
 another available exemption from registration provided by Rule 144 under the
 Securities Act of 1933.

 

Exhibit A-1-14

	
  

 	
  

 
	
  

 	
 Unless one
 of the boxes is checked, the Trustee will refuse to register any of the Notes
 evidenced by this certificate in the name of any Person other than the
 registered holder thereof; provided, however, that if box (5), (6) or (7) is
 checked, the Trustee may require, prior to registering any such transfer of
 the Notes, such legal opinions, certifications and other information as the
 Company has reasonably requested to confirm that such transfer is being made
 pursuant to an exemption from, or in a transaction not subject to, the
 registration requirements of the Securities Act of 1933. 

 

	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
 Your
 Signature

 
	
  

 	
  

 	
  

 	
  

 
	
 Signature
 Guarantee:

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 
	
 Date:

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	

 

 
	
 Signature
 must be guaranteed by a participant in a recognized signature guaranty
 medallion program or other signature guarantor acceptable to the Trustee

 	
  

 	
 Signature of
 Signature Guarantee

 

TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS
CHECKED.

          The undersigned represents and warrants that
it is purchasing this Note for its own account or an account with respect to
which it exercises sole investment discretion and that it and any such account
is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, and is aware that the sale to it is being made in
reliance on Rule 144A and acknowledges that it has received such information
regarding the Company as the undersigned has requested pursuant to Rule 144A or
has determined not to request such information and that it is aware that the
transferor is relying upon the undersigned’s foregoing representations in order
to claim the exemption from registration provided by Rule 144A. 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Dated:

 	
  

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
 NOTICE:

 	
 To be
 executed by an executive officer

 

Exhibit A-1-15

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

The following increases or decreases in this Global Note have been made: 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date of

 Exchange

 	
  

 	
 Amount of

 decrease in

 Principal amount

 of this Global

 Security

 	
  

 	
 Amount of

 increase in

 Principal amount

 of this Global

 Security

 	
  

 	
 Principal amount

 of this Global

 Note following

 such

 decrease or

 increase

 	
  

 	
 Signature of

 authorized

 officer of

 Trustee or

 Securities

 Custodian

 
	

 

 	
  

 	

 

 	
  

 	

 

 	
  

 	

 

 	
  

 	

 

 

Exhibit A-1-16

OPTION OF HOLDER TO ELECT PURCHASE

          If
you want to elect to have this Note purchased by the Company pursuant to
Section 4.07 or 4.09 of the Indenture, check the box: o

          If
you want to elect to have only part of this Note purchased by the Company
pursuant to Section 4.07 or 4.09 of the Indenture, state the amount in
principal amount: $________ 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date:

 	
  

 	
  

 	
 Your
 Signature:

 	
  

 
	
  

 	

 

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 	
 Sign exactly
 as your name appears

 on the other side of this Note.

 

	
  

 	
  

 	
  

 
	
 Signature
 Guarantee:

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 (Signature
 must be guaranteed)

 

          Signatures
must be guaranteed by an “eligible guarantor institution” meeting the
requirements of the Security Registrar, which requirements include membership
or participation in the Security Transfer Agent Medallion Program (“STAMP”) or
such other “signature guarantee program” as may be determined by the Security
Registrar in addition to, or in substitution for, STAMP, all in accordance with
the United States Securities Exchange Act of 1934, as amended. 

Exhibit A-1-17

EXHIBIT A-2 

[FORM OF FACE OF EXCHANGE SECURITY]

[Global Securities Legend]

          UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

          TRANSFERS
OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND
TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN
ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE
REVERSE HEREOF. 

[Definitive Securities Legend]

          IN
CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE SECURITY REGISTRAR
AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER
AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE
FOREGOING RESTRICTIONS.

Exhibit A-2-1

CUSIP No. [               ]

ISIN No. [                   ]

	
  

 	
  

 
	
 No.
 ________

 	
 $________

 

5.250% Series C Second-Priority Secured Notes due 2014 (the “Notes”)

          CIT
GROUP INC., a Delaware corporation, promises to pay to Cede & Co., or
registered assigns, the principal sum of
$[               
] Dollars on April 1, 2014. 

          Interest
Payment Dates: April 1 and October 1. 

          Record
Dates: March 15 and September 15. 

Exhibit A-2-2

Additional provisions of this Note are set forth on the other side of this Note.

 Dated:

CIT GROUP INC.

	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name:

 
	
  

 	
  

 	
 Title:

 

	
  

 	
  

 	
  

 
	
 Attest:

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 Name:

 	
  

 
	
  

 	
 Title:

 	
  

 

Exhibit A-2-3

	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 
	
 DEUTSCHE
 BANK TRUST COMPANY AMERICAS 

 
	
 as Trustee,
 certifies 

 	
  

 
	
  

 	
 that this is
 one of 

 	
  

 
	
  

 	
 the
 Securities referred

 	
  

 
	
  

 	
 to in the
 Indenture. 

 	
  

 
	
 by

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 Authorized Signatory

 	
  

 

Exhibit A-2-4

FORM OF REVERSE SIDE OF EXCHANGE SECURITY

1. Interest

          CIT
GROUP INC., a Delaware corporation (such corporation, and its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate per
annum shown above. The Company shall pay interest semiannually on April 1 and
October 1 of each year, commencing October 1, 2011. Interest on the Notes shall
accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from March 30, 2011. Interest shall be computed on the
basis of a 360-day year of twelve 30-day months. 

2. Method
of Payment 

          The
Company shall pay interest on the Notes (except defaulted interest) to the
Persons who are registered holders of Notes at the close of business on the
March 15 and September 15 next preceding the interest payment date even if
Notes are canceled after the record date and on or before the interest payment
date. Holders must surrender Notes to a Paying Agent to collect principal
payments. The Company shall pay principal and interest in money of the United
States that at the time of payment is legal tender for payment of public and
private debts. Payments in respect of the Notes represented by a Global Note
(including principal, premium, if any, and interest) shall be made by wire
transfer of immediately available funds to the accounts specified by The
Depository Trust Company. The Company shall make all payments in respect of a
certificated Security (including principal, premium, if any, and interest) by
mailing a check to the registered address of each Holder thereof; provided,
however, that payments on a certificated Security shall be made by wire
transfer to a U.S. dollar account maintained by the payee with a bank in the
United States if such Holder elects payment by wire transfer by giving written
notice to the Trustee or the Paying Agent to such effect designating such
account no later than 30 days immediately preceding the relevant due date for
payment (or such other date as the Trustee may accept in its discretion). 

3. Paving
Agent and Security Registrar 

          Initially,
Deutsche Bank Trust Company Americas (the “Trustee”), shall act as
Paying Agent and Security Registrar. The Company may appoint and change any
Paying Agent, Security Registrar or co-registrar without notice. The Company or
any wholly owned Subsidiary may act as Paying Agent, Security Registrar or
co-registrar. 

4. Indenture

          The
Company issued the Notes under an Indenture (the “Base Indenture”) dated
as of March 30, 2011 and a Supplemental Indenture (the “Supplemental
Indenture” and together with the Base Indenture, the “Indenture”)
dated as of March 30, 2011, among the Company, the Subsidiary Guarantors and
the Trustee. The terms of the Notes include those stated in the 

Exhibit A-2-5

Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of
1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the
Indenture (the “Act”). Terms defined in the Indenture and not defined
herein have the meanings ascribed thereto in the Indenture. The Notes are
subject to all such terms, and Holders are referred to the Indenture and the
Act for a statement of those terms. 

          The
Notes are general unsecured obligations of the Company. The Company shall be
entitled, to issue Additional Securities pursuant to Section 3.12 of the Base
Indenture. The Notes issued on the Issue Date and any Additional Securities shall
be treated as a single class for all purposes under the Indenture. 

5. Optional
Redemption

          At
any time and from time to time, the Company may redeem all or a part of the
Notes, upon not less than 30 nor more than 60 days’ notice to each holder of
Notes, at a redemption price equal to the greater of: 

	
  

 	
  

 
	
  

 	
           (3)
 100% of the principal amount of the Notes redeemed, and 

 
	
  

 	
  

 
	
  

 	
           (4) the sum of the present values of the
 remaining scheduled payments of principal and interest on the Notes to be
 redeemed that would be due after the related redemption date but for such
 redemption (exclusive of interest accrued to the redemption date) discounted
 to the redemption date on a semiannual basis (assuming a 360-day year
 consisting of twelve 30-day months) at the applicable Treasury Yield plus 50
 basis points; 

 

          plus,
in either case, accrued and unpaid interest, and Additional Interest, if any,
to the date of redemption, subject to the rights of Holders of such Notes on a
relevant record date to receive interest due on a relevant Interest Payment
Date.

          In
addition to the Company’s right to redeem Notes as set forth in Section 3.2 of
the Supplemental Indenture, the Company may at any time and from time to time
purchase Notes in open market transactions, tender offers or otherwise. 

6. Notice
of Redemption 

          If
less than all of the Notes of a series are to be redeemed at any time, the
Notes shall be redeemed on a pro rata
basis in accordance with Section 11.3 of the Base Indenture. 

          Any
redemption of Notes pursuant to Section 3.2 of the Supplemental Indenture that
is in part processed through DTC shall be treated in accordance with the rules
and procedures of DTC as a “Pro Rata Pass-Through Distribution of Principal”
(as defined under such rules and procedures). Except to the extent modified by
the Indenture, the provisions of Article 11 of the Base Indenture shall apply
to redemptions of Notes pursuant to Section 3.2 of the Supplemental Indenture. 

Exhibit A-2-6

7. Change
of Control

          Upon
the occurrence of a Change of Control Triggering Event, the Company will be
obligated to make an offer to purchase and each Holder of Notes will have the
right to require the Company to purchase all or any part (equal to $2,000 in
principal amount or an integral multiple of $1,000 in principal amount in
excess thereof) of that Holder’s Notes on the terms set forth herein. In the
Change of Control Offer, the Company will offer a Change of Control Payment in
cash equal to 101% of the aggregate principal amount of Notes purchased plus
accrued and unpaid interest and Additional Interest, if any, on the Notes
purchased to the date of purchase, subject to the rights of Holders of Notes on
the relevant record date to receive interest due on the relevant Interest
Payment Date. 

8. Guarantees

          The
payment by the Company of the principal of, and premium and interest on, the
Notes is fully and unconditionally guaranteed on a joint and several senior
basis by each of the Guarantors on the terms set forth in the Indenture. 

9. Denominations;
Transfer; Exchange

          The
Notes are in registered form without coupons in denominations of $2,000
principal amount and whole multiples of $1,000 in excess thereof. A Holder may
transfer or exchange Notes in accordance with the Indenture. The Security
Registrar may require a Holder, among other things, to furnish appropriate
endorsements or transfer documents and to pay any taxes and fees required by
law or permitted by the Indenture. The Security Registrar need not register the
transfer of or exchange any Notes selected for redemption (except, in the case
of a Note to be redeemed in part, the portion of the Note not to be redeemed)
or any Notes for a period of 15 days before a selection of Notes to be redeemed
or 15 days before an interest payment date. 

10. Persons
Deemed Owners

          The
registered Holder of this Note may be treated as the owner of it for all
purposes. 

11. Discharge
and Defeasance

          Subject
to certain conditions, the Company at any time shall be entitled to terminate
some or all of its obligations under the Notes of any series and the Indenture,
including the Guarantees, if the Company deposits with the Trustee Cash in U.S.
dollars, non-callable Government Obligations, or a combination of Cash in U.S.
dollars and non-callable Government Obligations, in amounts as shall be
sufficient, without consideration of any reinvestment of interest, to pay and
discharge the entire Indebtedness on the Notes of any series not delivered to
the Trustee for 

Exhibit A-2-7

cancellation
for principal, premium, if any, and accrued interest, including Additional
Interest, if any, to the date of maturity or redemption. 

12. Defaults
and Remedies

	
  

 	
  

 	
  

 
	
  

 	
 Under the
 Indenture, Events of Default include: 

 
	
  

 	
  

 	
  

 
	
  

 	
           (i)
 default for 30 days in the payment when due of interest on the Notes; 

 
	
  

 	
  

 
	
  

 	
           (ii)
 default in the payment when due (at maturity, upon redemption or otherwise)
 of the principal of, or premium, if any, on, the Notes; 

 
	
  

 	
  

 
	
  

 	
           (iii)
 failure for 3 business days by the Company to comply with Sections 3.3 or 7.2
 of the Supplemental Indenture; 

 
	
  

 	
  

 
	
  

 	
           (iv)
 failure by the Company for 60 days after written notice to the Company by the
 Trustee or the Holders of at least 25% in aggregate principal amount of the
 Pari Passu Notes then Outstanding voting as a single class to comply with any
 of the other agreements in the Indenture; 

 
	
  

 	
  

 
	
  

 	
           (v)
 default under any mortgage, indenture or instrument under which there may be
 issued or by which there may be secured or evidenced any Indebtedness for
 money borrowed by the Company or any of its Significant Subsidiaries (or the
 payment of which is guaranteed by the Company or any of its Significant Subsidiaries),
 whether such Indebtedness or Guarantee now exists, or is created after the
 Issue Date, if that default: 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (1)
 is caused by a failure to pay any scheduled installment of principal on such
 Indebtedness prior to the expiration of the grace period provided in such
 Indebtedness on the date of such default (a “Payment Default”); or 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (2)
 results in the acceleration of such Indebtedness prior to its express
 maturity, 

 
	
  

 	
  

 	
  

 
	
  

 	
 and, in each
 case, the principal amount of any such Indebtedness, together with the
 principal amount of any other such Indebtedness under which there has been a
 Payment Default or the maturity of which has been so accelerated, aggregates
 $250.0 million or more;

 
	
  

 
	
  

 	
           (vi)
 failure by the Company or any of its Significant Subsidiaries to pay final
 and non-appealable judgments entered by a court or courts of competent
 jurisdiction aggregating in excess of $250.0 million (net of any amounts
 covered by insurance), which judgments are not paid, discharged or stayed for
 a period of 60 days; 

 
	
  

 	
  

 
	
  

 	
           (vii)
 with respect to the Company or any of its Significant Subsidiaries, (x) a
 court of competent jurisdiction enters an order or decree under any
 applicable Bankruptcy Law that: (A) is for relief against such Person or
 Persons in an involuntary case; (B) 

 

Exhibit A-2-8

	
  

 	
  

 
	
  

 	
 appoints a
 Bankruptcy Custodian of such Person or Persons or for all or substantially
 all of the property of such Person or Persons; or (C) orders the liquidation
 of such Person or Persons; and, in each case, the order or decree remains
 unstayed and in effect for 60 consecutive days; or (y) the commencement by
 such Person or Persons of a voluntary proceeding under any applicable
 bankruptcy, insolvency, reorganization (other than a reorganization under a
 foreign law that does not relate to insolvency) or other similar law or of a
 voluntary proceeding seeking to be adjudicated insolvent or the consent by
 such Person or Persons to the entry of a decree or order for relief in an
 involuntary proceeding under any applicable bankruptcy, insolvency,
 reorganization or other similar law or to the commencement of any insolvency
 proceedings against it or them, or the filing by such Person or Persons of a
 petition or answer or consent seeking reorganization, arrangement, adjustment
 or composition of such Person or Persons under any such applicable law, or
 the consent by such Person or Persons to the filing of such petition or to
 the appointment of or taking possession by a custodian, receiver, liquidator,
 assignee, trustee or similar official of such Person or Persons or any
 substantial part of the property of such Person or Persons or the making by
 such Person or Persons of an assignment for the benefit of creditors, or the
 taking of corporate action by such Person or Persons in furtherance of any
 such action or the admitting in writing by such Person or Persons of its or
 their inability to pay its or their debts generally as they become due; 

 
	
  

 	
  

 
	
  

 	
           (viii)
 (x) any Note Guarantee with respect to a Note of any Guarantor that is a
 Significant Subsidiary, (A) ceases to be in full force and effect (other than
 in accordance with the terms of such Note Guarantee or Guarantees, as
 applicable, and the Indenture) or (B) is declared null and void and unenforceable
 or found to be invalid or (y) any Guarantor that is a Significant Subsidiary
 denies its liability under its Note Guarantee with respect to a Note of such
 series (other than by reason of release of a Guarantor from its Note
 Guarantee in accordance with the terms of the Indenture and the Note
 Guarantee); and

 
	
  

 	
  

 
	
  

 	
           (ix)
 any security interest and Lien purported to be created by any Security
 Document with respect to any Collateral, individually or in the aggregate,
 having a fair market value in excess of $250.0 million shall cease to be in
 full force and effect, or shall cease to give the Notes Collateral Agent, for
 the benefit of the Holders, the Liens, rights, powers and privileges
 purported to be created and granted thereby (including a perfected
 second-priority security interest in and Lien on, all of the Collateral
 thereunder (except as otherwise expressly provided in the Indenture, the
 Security Documents and the Intercreditor Agreements)) in favor of the Notes
 Collateral Agent, or shall be asserted by the Company or any Guarantor to not
 be, a valid, perfected, second-priority (except as otherwise expressly
 provided in the Indenture, the Security Documents or any Intercreditor
 Agreement) security interest in or Lien on such Collateral covered thereby;
 except to the extent that any such loss of perfection or priority results
 from the failure of the Notes Collateral Agent or the Trustee (or an agent or
 trustee on its behalf) to maintain possession of certificates actually
 delivered to it (or such agent or trustee) representing securities pledged
 under the Security Documents. 

 

Exhibit A-2-9

13. No
Recourse Against Others 

          No
director, officer, employee, incorporator or stockholder of the Company or any
Guarantor, as such, will have any liability for any obligations of the Company
or the Guarantors under the Notes, the Indenture, the Guarantees, the Security
Documents or the Registration Rights Agreement or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each holder of
Notes by accepting a Note waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes. The waiver
may not be effective to waive liabilities under the federal securities laws. 

14. Authentication

          This
Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the
other side of this Note. 

15. Abbreviations

          Customary
abbreviations may be used in the name of a Holder or an assignee, such as TEN
COM (=tenants in common), TEN ENT (=tenants by the entireties), IT TEN (joint
tenants with rights of survivorship and not as tenants in common), CUST
(=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

16. CUSIP
Numbers 

          The
Company has caused CUSIP numbers to be printed on the Notes and has directed
the Trustee to use CUSIP numbers in notices of redemption as a convenience to
Holders. No representation is made as to the accuracy of such numbers either as
printed on the Notes or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon. 

17. Governing
Law 

          THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER
THE LAWS OF THE STATE OF NEW YORK AND SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED WHOLLY WITHIN SUCH STATE. 

Exhibit A-2-10

ASSIGNMENT FORM

	
  

 	
  

 
	
 To assign this Security, fill in the form below:

 	
  

 
	
  

 	

 

 

	
  

 	
  

 
	
 I or we
 assign and transfer this Security to

 	
  

 
	
  

 	

 

 
	
  

 	
 (Print or type assignee’s name, address and zip code)

 
	
  

 
	

 

 
	
 (Insert assignee’s sec. sec. or tax I.D. No.)

 

and irrevocably appoint ____________________________________ agent to
transfer this Security on the books of the Company. The agent may substitute
another to act for him. 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date:

 	
  

 	
  

 	
 Your
 Signature:

 	
  

 
	
  

 	

 

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 	
 Sign exactly
 as your name appears

 on the other side of this Security.

 

Exhibit A-2-11

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

The following increases or decreases in this Global Note have been made: 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date of

 Exchange

 	
  

 	
 Amount of

 decrease in

 Principal amount

 of this Global

 Security

 	
  

 	
 Amount of

 increase in

 Principal amount

 of this Global

 Security

 	
  

 	
 Principal amount

 of this Global

 Note following

 such

 decrease or

 increase

 	
  

 	
 Signature of

 authorized

 officer of

 Trustee or

 Securities

 Custodian

 
	

 

 	
  

 	

 

 	
  

 	

 

 	
  

 	

 

 	
  

 	

 

 

Exhibit A-2-12

OPTION OF HOLDER TO ELECT PURCHASE

          If
you want to elect to have this Security purchased by the Company pursuant to
Section 4.07 or 4.09 of the Indenture, check the box: o

          If
you want to elect to have only part of this Security purchased by the Company
pursuant to Section 4.07 or 4.09 of the Indenture, state the amount in
principal amount: $________ 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date:

 	
  

 	
  

 	
 Your
 Signature:

 	
  

 
	
  

 	

 

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 	
 Sign exactly
 as your name appears

 on the other side of this Security.

 

	
  

 	
  

 	
  

 
	
 Signature
 Guarantee:

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 (Signature
 must be guaranteed)

 

          Signatures
must be guaranteed by an “eligible guarantor institution” meeting the
requirements of the Security Registrar, which requirements include membership
or participation in the Security Transfer Agent Medallion Program (“STAMP”) or
such other “signature guarantee program” as may be determined by the Security
Registrar in addition to, or in substitution for, STAMP, all in accordance with
the United States Securities Exchange Act of 1934, as amended. 

Exhibit A-2-13

EXHIBIT B-1

[FORM OF FACE OF INITIAL SECURITY] 

[Global Securities Legend]

          UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

          TRANSFERS
OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND
TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN
ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE
REVERSE HEREOF. 

          [[FOR
REGULATION S GLOBAL NOTE ONLY] UNTIL 40 DAYS AFTER THE LATER OF COMMENCEMENT OR
COMPLETION OF THE OFFERING, AN OFFER OR SALE OF SECURITIES WITHIN THE UNITED
STATES BY A DEALER (AS DEFINED IN THE SECURITIES ACT) MAY VIOLATE THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IF SUCH OFFER OR SALE IS MADE
OTHERWISE THAN IN ACCORDANCE WITH RULE 144A THEREUNDER.] 

[Restricted Securities Legend]

          THE
SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A
TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY
EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION
THEREFROM. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED
THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION
5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE
SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) SUCH
SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (i) (a) TO A
PERSON WHO IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) 

Exhibit B-1-1

IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b) IN A TRANSACTION MEETING
THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c) OUTSIDE THE UNITED
STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
904 UNDER THE SECURITIES ACT, OR (d) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION
OF COUNSEL IF THE COMPANY SO REQUESTS), (ii) TO THE COMPANY, OR (iii) PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE IN ACCORDANCE WITH ANY
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
APPLICABLE JURISDICTION, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS
REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY OF
THE RESALE RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE
MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF
THE SECURITY EVIDENCED HEREBY. 

[Additional Restricted Securities Legend for
Securities Offered in Reliance on Regulation S]

          THIS
SECURITY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER
THE SECURITIES ACT, AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR
FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL
APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO
THEM IN REGULATION S UNDER THE SECURITIES ACT.

[Definitive Securities Legend]

          IN
CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE SECURITY REGISTRAR
AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER
AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE
FOREGOING RESTRICTIONS. 

Exhibit B-1-2

CUSIP No.
[               ]

ISIN No.
[                    ]

	
  

 	
  

 
	
 No. ________
 

 	
 $________

 
	
  

 	
  

 

6.625% Series C Second-Priority Secured Notes
due 2018 (the “Notes”)

         CIT
GROUP INC., a Delaware corporation, promises to pay to Cede & Co., or
registered assigns, the principal sum of
$[               ]
Dollars on April 1, 2018. 

          Interest
Payment Dates: April 1 and October 1. 

          Record
Dates: March 15 and September 15. 

Exhibit B-1-3

          Additional
provisions of this Note are set forth on the other side of this Note.

Dated:

	
  

 	
  

 	
  

 	
  

 
	
  

 	
 CIT GROUP
 INC.

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By:

 	
  

 
	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
 Name:

 
	
  

 	
  

 	
  

 	
 Title:

 

	
  

 	
  

 	
  

 
	
 Attest:

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 Name:

 	
  

 
	
  

 	
 Title:

 	
  

 

Exhibit B-1-4

	
  

 	
  

 	
  

 
	
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 
	
  

 	
  

 
	
 DEUTSCHE
 BANK TRUST COMPANY AMERICAS

 
	
 as Trustee,
 certifies

 	
  

 
	
  

 	
 that this is
 one of

 	
  

 
	
  

 	
 the Securities referred

 	
  

 
	
  

 	
 to in the Indenture.

 	
  

 
	
  

 	
  

 	
  

 
	
 by

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 Authorized Signatory

 	
  

 

Exhibit B-1-5

FORM OF REVERSE SIDE OF INITIAL SECURITY

1. Interest

          CIT
GROUP INC., a Delaware corporation (such corporation, and its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate per
annum shown above. The Company shall pay interest semiannually on April 1 and
October 1 of each year, commencing October 1, 2011. Interest on the Notes shall
accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from March 30, 2011. Interest shall be computed on the
basis of a 360-day year of twelve 30-day months. 

2. Method
of Payment

          The
Company shall pay interest on the Notes (except defaulted interest) to the
Persons who are registered holders of Notes at the close of business on the
March 15 and September 15 next preceding the interest payment date even if
Notes are canceled after the record date and on or before the interest payment
date. Holders must surrender Notes to a Paying Agent to collect principal
payments. The Company shall pay principal and interest in money of the United
States that at the time of payment is legal tender for payment of public and
private debts. Payments in respect of the Notes represented by a Global Note
(including principal, premium, if any, and interest) shall be made by wire
transfer of immediately available funds to the accounts specified by The
Depository Trust Company. The Company shall make all payments in respect of a
certificated Security (including principal, premium, if any, and interest) by
mailing a check to the registered address of each Holder thereof; provided,
however, that payments on a certificated Security shall be made by wire
transfer to a U.S. dollar account maintained by the payee with a bank in the
United States if such Holder elects payment by wire transfer by giving written
notice to the Trustee or the Paying Agent to such effect designating such
account no later than 30 days immediately preceding the relevant due date for
payment (or such other date as the Trustee may accept in its discretion). 

3. Paving
Agent and Security Registrar 

          Initially,
Deutsche Bank Trust Company Americas (the “Trustee”), shall act as
Paying Agent and Security Registrar. The Company may appoint and change any
Paying Agent, Security Registrar or co-registrar without notice. The Company or
any wholly owned Subsidiary may act as Paying Agent, Security Registrar or
co-registrar. 

4. Indenture

          The
Company issued the Notes under an Indenture (the “Base Indenture”) dated
as of March 30, 2011 and a Supplemental Indenture (the “Supplemental
Indenture” and together with the Base Indenture, the “Indenture”)
dated as of March 30, 2011, among the Company, the Subsidiary Guarantors and
the Trustee. The terms of the Notes include those stated in the 

Exhibit B-1-6

Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of
1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the
Indenture (the “Act”). Terms defined in the Indenture and not defined
herein have the meanings ascribed thereto in the Indenture. The Notes are
subject to all such terms, and Holders are referred to the Indenture and the
Act for a statement of those terms. 

          The
Notes are general unsecured obligations of the Company. The Company shall be
entitled, to issue Additional Securities pursuant to Section 3.12 of the Base
Indenture. The Notes issued on the Issue Date and any Additional Securities shall
be treated as a single class for all purposes under the Indenture. 

5. Optional
Redemption 

          At
any time and from time to time, the Company may redeem all or a part of the
Notes, upon not less than 30 nor more than 60 days’ notice to each holder of
Notes, at a redemption price equal to the greater of: 

	
  

 	
  

 	
  

 
	
  

 	
           (5)
 100% of the principal amount of the Notes redeemed, and 

 
	
  

 	
  

 	
  

 
	
  

 	
           (6)
 the sum of the present values of the remaining scheduled payments of
 principal and interest on the Notes to be redeemed that would be due after
 the related redemption date but for such redemption (exclusive of interest
 accrued to the redemption date) discounted to the redemption date on a
 semiannual basis (assuming a 360-day year consisting of twelve 30-day months)
 at the applicable Treasury Yield plus 50 basis points;

 

          plus,
in either case, accrued and unpaid interest, and Additional Interest, if any,
to the date of redemption, subject to the rights of Holders of such Notes on a
relevant record date to receive interest due on a relevant Interest Payment
Date. 

          In
addition to the Company’s right to redeem Notes as set forth in Section 3.2 of
the Supplemental Indenture, the Company may at any time and from time to time
purchase Notes in open market transactions, tender offers or otherwise. 

6. Notice
of Redemption 

          If
less than all of the Notes of a series are to be redeemed at any time, the
Notes shall be redeemed on a pro rata
basis in accordance with Section 11.3 of the Base Indenture. 

          Any
redemption of Notes pursuant to Section 3.2 of the Supplemental Indenture that
is in part processed through DTC shall be treated in accordance with the rules
and procedures of DTC as a “Pro Rata Pass-Through Distribution of Principal”
(as defined under such rules and procedures). Except to the extent modified by
the Indenture, the provisions of Article 11 of the Base Indenture shall apply
to redemptions of Notes pursuant to Section 3.2 of the Supplemental Indenture. 

Exhibit B-1-7

7. Change
of Control 

          Upon
the occurrence of a Change of Control Triggering Event, the Company will be
obligated to make an offer to purchase and each Holder of Notes will have the
right to require the Company to purchase all or any part (equal to $2,000 in
principal amount or an integral multiple of $1,000 in principal amount in
excess thereof) of that Holder’s Notes on the terms set forth herein. In the
Change of Control Offer, the Company will offer a Change of Control Payment in
cash equal to 101% of the aggregate principal amount of Notes purchased plus
accrued and unpaid interest and Additional Interest, if any, on the Notes
purchased to the date of purchase, subject to the rights of Holders of Notes on
the relevant record date to receive interest due on the relevant Interest
Payment Date. 

8. Guarantees

          The
payment by the Company of the principal of, and premium and interest on, the
Notes is fully and unconditionally guaranteed on a joint and several senior
basis by each of the Guarantors on the terms set forth in the Indenture. 

9. Denominations;
Transfer; Exchange 

          The
Notes are in registered form without coupons in denominations of $2,000
principal amount and whole multiples of $1,000 in excess thereof. A Holder may
transfer or exchange Notes in accordance with the Indenture. The Security
Registrar may require a Holder, among other things, to furnish appropriate
endorsements or transfer documents and to pay any taxes and fees required by
law or permitted by the Indenture. The Security Registrar need not register the
transfer of or exchange any Notes selected for redemption (except, in the case
of a Note to be redeemed in part, the portion of the Note not to be redeemed)
or any Notes for a period of 15 days before a selection of Notes to be redeemed
or 15 days before an interest payment date. 

10. Persons
Deemed Owners 

          The
registered Holder of this Note may be treated as the owner of it for all
purposes. 

11. Discharge
and Defeasance 

          Subject
to certain conditions, the Company at any time shall be entitled to terminate
some or all of its obligations under the Notes of any series and the Indenture,
including the Guarantees, if the Company deposits with the Trustee Cash in U.S.
dollars, non-callable Government Obligations, or a combination of Cash in U.S.
dollars and non-callable Government Obligations, in amounts as shall be
sufficient, without consideration of any reinvestment of interest, to pay and
discharge the entire Indebtedness on the Notes of any series not delivered to
the Trustee for 

Exhibit B-1-8

cancellation
for principal, premium, if any, and accrued interest, including Additional
Interest, if any, to the date of maturity or redemption. 

12. Defaults
and Remedies 

          Under
the Indenture, Events of Default include: 

	
  

 	
  

 	
  

 
	
  

 	
           (i)
 default for 30 days in the payment when due of interest on the Notes; 

 
	
  

 	
  

 	
  

 
	
  

 	
           (ii)
 default in the payment when due (at maturity, upon redemption or otherwise)
 of the principal of, or premium, if any, on, the Notes;

 
	
  

 	
  

 
	
  

 	
           (iii)
 failure for 3 business days by the Company to comply with Sections 3.3 or 7.2
 of the Supplemental Indenture; 

 
	
  

 	
  

 	
  

 
	
  

 	
           (iv)
 failure by the Company for 60 days after written notice to the Company by the
 Trustee or the Holders of at least 25% in aggregate principal amount of the
 Pari Passu Notes then Outstanding voting as a single class to comply with any
 of the other agreements in the Indenture;

 
	
  

 	
  

 
	
  

 	
           (v)
 default under any mortgage, indenture or instrument under which there may be
 issued or by which there may be secured or evidenced any Indebtedness for
 money borrowed by the Company or any of its Significant Subsidiaries (or the
 payment of which is guaranteed by the Company or any of its Significant Subsidiaries),
 whether such Indebtedness or Guarantee now exists, or is created after the
 Issue Date, if that default:

 

	
  

 	
  

 	
  

 
	
  

 	
           (1)
 is caused by a failure to pay any scheduled installment of principal on such
 Indebtedness prior to the expiration of the grace period provided in such
 Indebtedness on the date of such default (a “Payment Default”); or

 
	
  

 	
  

 
	
  

 	
           (2)
 results in the acceleration of such Indebtedness prior to its express
 maturity, 

 

	
  

 	
  

 	
  

 
	
  

 	
 and, in each
 case, the principal amount of any such Indebtedness, together with the
 principal amount of any other such Indebtedness under which there has been a
 Payment Default or the maturity of which has been so accelerated, aggregates
 $250.0 million or more;

 
	
  

 	
  

 	
  

 
	
  

 	
           (vi)
 failure by the Company or any of its Significant Subsidiaries to pay final
 and non-appealable judgments entered by a court or courts of competent
 jurisdiction aggregating in excess of $250.0 million (net of any amounts
 covered by insurance), which judgments are not paid, discharged or stayed for
 a period of 60 days;

 
	
  

 	
  

 
	
  

 	
           (vii)
 with respect to the Company or any of its Significant Subsidiaries, (x) a
 court of competent jurisdiction enters an order or decree under any
 applicable Bankruptcy Law that: (A) is for relief against such Person or
 Persons in an involuntary case; (B)

 

Exhibit B-1-9

	
  

 	
  

 
	
  

 	
 appoints a
 Bankruptcy Custodian of such Person or Persons or for all or substantially
 all of the property of such Person or Persons; or (C) orders the liquidation
 of such Person or Persons; and, in each case, the order or decree remains
 unstayed and in effect for 60 consecutive days; or (y) the commencement by
 such Person or Persons of a voluntary proceeding under any applicable
 bankruptcy, insolvency, reorganization (other than a reorganization under a
 foreign law that does not relate to insolvency) or other similar law or of a
 voluntary proceeding seeking to be adjudicated insolvent or the consent by
 such Person or Persons to the entry of a decree or order for relief in an
 involuntary proceeding under any applicable bankruptcy, insolvency,
 reorganization or other similar law or to the commencement of any insolvency
 proceedings against it or them, or the filing by such Person or Persons of a
 petition or answer or consent seeking reorganization, arrangement, adjustment
 or composition of such Person or Persons under any such applicable law, or
 the consent by such Person or Persons to the filing of such petition or to
 the appointment of or taking possession by a custodian, receiver, liquidator,
 assignee, trustee or similar official of such Person or Persons or any
 substantial part of the property of such Person or Persons or the making by
 such Person or Persons of an assignment for the benefit of creditors, or the
 taking of corporate action by such Person or Persons in furtherance of any
 such action or the admitting in writing by such Person or Persons of its or
 their inability to pay its or their debts generally as they become due; 

 
	
  

 	
  

 
	
  

 	
           (viii)
 (x) any Note Guarantee with respect to a Note of any Guarantor that is a
 Significant Subsidiary, (A) ceases to be in full force and effect (other than
 in accordance with the terms of such Note Guarantee or Guarantees, as
 applicable, and the Indenture) or (B) is declared null and void and unenforceable
 or found to be invalid or (y) any Guarantor that is a Significant Subsidiary
 denies its liability under its Note Guarantee with respect to a Note of such
 series (other than by reason of release of a Guarantor from its Note
 Guarantee in accordance with the terms of the Indenture and the Note
 Guarantee); and 

 
	
  

 	
  

 
	
  

 	
           (ix)
 any security interest and Lien purported to be created by any Security
 Document with respect to any Collateral, individually or in the aggregate,
 having a fair market value in excess of $250.0 million shall cease to be in
 full force and effect, or shall cease to give the Notes Collateral Agent, for
 the benefit of the Holders, the Liens, rights, powers and privileges
 purported to be created and granted thereby (including a perfected
 second-priority security interest in and Lien on, all of the Collateral
 thereunder (except as otherwise expressly provided in the Indenture, the
 Security Documents and the Intercreditor Agreements)) in favor of the Notes
 Collateral Agent, or shall be asserted by the Company or any Guarantor to not
 be, a valid, perfected, second-priority (except as otherwise expressly
 provided in the Indenture, the Security Documents or any Intercreditor
 Agreement) security interest in or Lien on such Collateral covered thereby;
 except to the extent that any such loss of perfection or priority results
 from the failure of the Notes Collateral Agent or the Trustee (or an agent or
 trustee on its behalf) to maintain possession of certificates actually
 delivered to it (or such agent or trustee) representing securities pledged
 under the Security Documents. 

 
	
  

 	
  

 

Exhibit B-1-10

13. No
Recourse Against Others 

          No
director, officer, employee, incorporator or stockholder of the Company or any
Guarantor, as such, will have any liability for any obligations of the Company
or the Guarantors under the Notes, the Indenture, the Guarantees, the Security
Documents or the Registration Rights Agreement or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each holder of
Notes by accepting a Note waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes. The waiver
may not be effective to waive liabilities under the federal securities laws. 

14. Authentication

          This
Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the
other side of this Note. 

15. Abbreviations

          Customary
abbreviations may be used in the name of a Holder or an assignee, such as TEN
COM (=tenants in common), TEN ENT (=tenants by the entireties), IT TEN (joint
tenants with rights of survivorship and not as tenants in common), CUST
(=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

16. CUSIP
Numbers 

          The
Company has caused CUSIP numbers to be printed on the Notes and has directed
the Trustee to use CUSIP numbers in notices of redemption as a convenience to
Holders. No representation is made as to the accuracy of such numbers either as
printed on the Notes or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon. 

17. Governing
Law 

          THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER
THE LAWS OF THE STATE OF NEW YORK AND SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED WHOLLY WITHIN SUCH STATE. 

Exhibit B-1-11

ASSIGNMENT FORM

	
  

 	
  

 
	
 To assign
 this Security, fill in the form below:

 	
  

 
	
  

 	

 

 

	
  

 	
  

 
	
 I or we
 assign and transfer this Security to

 	
  

 
	
  

 	

 

 
	
  

 	
 (Print or type assignee’s name, address and zip code)

 
	
  

 
	

 

 
	
 (Insert assignee’s sec. sec. or tax I.D. No.)

 

and irrevocably appoint ____________________________________ agent to
transfer this Security on the books of the Company. The agent may substitute
another to act for him. 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date:

 	
  

 	
  

 	
 Your
 Signature:

 	
  

 
	
  

 	

 

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 	
 Sign exactly
 as your name appears

 on the other side of this Security.

 

Exhibit B-1-12

CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR REGISTRATION OF TRANSFER RESTRICTED SECURITIES 

This certificate relates to $_________ principal amount of Notes held in definitive
form by the undersigned. 

The undersigned has requested the Trustee by written order to exchange or register
the transfer of a Note or Notes. 

In connection with any transfer of any of the Notes evidenced by this certificate occurring
prior to the expiration of the period referred to in Rule 144 under the
Securities Act, the undersigned confirms that such Notes are being transferred
in accordance with its terms: 

CHECK ONE BOX BELOW 

	
  

 	
  

 	
  

 	
  

 
	
 o

 	
 (1)

 	 	
 to the Company; or

 
	
  

 	
  

 	 	
  

 
	
 o

 	
 (2)

 	 	
 to the Security Registrar for registration
 in the name of the Holder, without transfer; or

 
	
  

 	
  

 	 	
  

 
	
 o

 	
 (3)

 	 	
 pursuant to an effective registration
 statement under the Securities Act of 1933; or

 
	
  

 	
  

 	 	
  

 
	
 o

 	
 (4)

 	 	
 inside the United States to a “qualified
 institutional buyer” (as defined in Rule 144A under the Securities Act of
 1933) that purchases for its own account or for the account of a qualified
 institutional buyer to whom notice is given that such transfer is being made
 in reliance on Rule 144A, in each case pursuant to and in compliance with
 Rule 144A under the Securities Act of 1933; or

 
	
  

 	
  

 	 	
  

 
	
 o

 	
 (5)

 	 	
 outside the United States in an offshore
 transaction within the meaning of Regulation S under the Securities Act in
 compliance with Rule 904 under the Securities Act of 1933; or

 
	
  

 	
  

 	 	
  

 
	
 o

 	
 (6)

 	 	
 to an institutional “accredited investor”
 (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of
 1933) that has furnished to the Trustee a signed letter containing certain
 representations and agreements; or

 

Exhibit B-1-13

	
  

 	
  

 	
  

 	
  

 
	
 o

 	
 (7)

 	 	
 pursuant to
 another available exemption from registration provided by Rule 144 under the
 Securities Act of 1933.

 

Exhibit B-1-14

	
  

 	
  

 
	
  

 	
 Unless one
 of the boxes is checked, the Trustee will refuse to register any of the Notes
 evidenced by this certificate in the name of any Person other than the
 registered holder thereof; provided, however, that if box (5), (6) or (7) is
 checked, the Trustee may require, prior to registering any such transfer of
 the Notes, such legal opinions, certifications and other information as the
 Company has reasonably requested to confirm that such transfer is being made
 pursuant to an exemption from, or in a transaction not subject to, the
 registration requirements of the Securities Act of 1933. 

 

	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
 Your
 Signature

 
	
  

 	
  

 	
  

 	
  

 
	
 Signature
 Guarantee:

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 
	
 Date:

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	

 

 
	
 Signature
 must be guaranteed by a participant in a recognized signature guaranty
 medallion program or other signature guarantor acceptable to the Trustee

 	
  

 	
 Signature of
 Signature Guarantee

 

TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS
CHECKED.

          The undersigned represents and warrants that
it is purchasing this Note for its own account or an account with respect to
which it exercises sole investment discretion and that it and any such account
is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, and is aware that the sale to it is being made in
reliance on Rule 144A and acknowledges that it has received such information
regarding the Company as the undersigned has requested pursuant to Rule 144A or
has determined not to request such information and that it is aware that the
transferor is relying upon the undersigned’s foregoing representations in order
to claim the exemption from registration provided by Rule 144A. 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Dated: 

 	
  

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
 NOTICE:

 	
 To be
 executed by an executive officer

 

Exhibit B-1-15

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

The following increases or decreases in this Global Note have been made: 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date of

 Exchange

 	
  

 	
 Amount of

 decrease in

 Principal amount

 of this Global

 Security

 	
  

 	
 Amount of

 increase in

 Principal amount

 of this Global

 Security

 	
  

 	
 Principal amount

 of this Global

 Note following

 such

 decrease or

 increase

 	
  

 	
 Signature of

 authorized

 officer of

 Trustee or

 Securities

 Custodian

 
	

 

 	
  

 	

 

 	
  

 	

 

 	
  

 	

 

 	
  

 	

 

 

Exhibit B-1-16

OPTION OF HOLDER TO ELECT PURCHASE

          If
you want to elect to have this Security purchased by the Company pursuant to
Section 4.07 or 4.09 of the Indenture, check the box: o

          If
you want to elect to have only part of this Security purchased by the Company
pursuant to Section 4.07 or 4.09 of the Indenture, state the amount in
principal amount: $________ 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date:

 	
  

 	
  

 	
 Your
 Signature:

 	
  

 
	
  

 	

 

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 	
 Sign exactly
 as your name appears

 on the other side of this Security.

 

	
  

 	
  

 	
  

 
	
 Signature
 Guarantee:

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 (Signature
 must be guaranteed)

 

          Signatures
must be guaranteed by an “eligible guarantor institution” meeting the
requirements of the Security Registrar, which requirements include membership
or participation in the Security Transfer Agent Medallion Program (“STAMP”) or
such other “signature guarantee program” as may be determined by the Security
Registrar in addition to, or in substitution for, STAMP, all in accordance with
the United States Securities Exchange Act of 1934, as amended. 

Exhibit B-1-17

EXHIBIT B-2

[FORM OF FACE OF EXCHANGE SECURITY]

[Global Securities Legend]

          UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

          TRANSFERS
OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND
TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN
ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE
REVERSE HEREOF. 

[Definitive Securities Legend]

          IN
CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE SECURITY REGISTRAR
AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER
AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE
FOREGOING RESTRICTIONS. 

Exhibit B-2-1

	
  

 	
  

 
	
  

 	
 CUSIP No. [               ]

 
	
  

 	
 ISIN No. [                  ]

 
	
 No. ______

 	
 $________ 

 

6.625% Series C Second-Priority Secured Notes
due 2018 (the “Notes”)

          CIT
GROUP INC., a Delaware corporation, promises to pay to Cede & Co., or
registered assigns, the principal sum of $[     ] Dollars on April 1, 2018. 

          Interest
Payment Dates: April 1 and October 1. 

          Record
Dates: March 15 and September 15. 

Exhibit B-2-2

          Additional
provisions of this Note are set forth on the other side of this Note. 

Dated: 

CIT GROUP INC.

	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
 By:

 	
  

 
	
  

 	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 	
 Name:

 
	
  

 	
  

 	
  

 	
  

 	
 Title:

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Attest:

 	
  

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	
  

 	
  

 
	
  

 	
 Name:

 	
  

 	
  

 	
  

 
	
  

 	
 Title:

 	
  

 	
  

 	
  

 

Exhibit B-2-3

	
  

 	
  

 
	
 TRUSTEE’S CERTIFICATE OF
          AUTHENTICATION

 
	
 DEUTSCHE BANK TRUST COMPANY AMERICAS

 
	
 as Trustee, certifies

 that this is one of

 the Securities referred

 to in the Indenture. 

 
	
  

 
	
 by 

 
	
  

 	
 

 
	
                     Authorized
 Signatory

 

Exhibit B-2-4

FORM OF REVERSE SIDE OF EXCHANGE SECURITY

1. Interest

          CIT
GROUP INC., a Delaware corporation (such corporation, and its successors and
assigns under the Indenture hereinafter referred to, being herein called the “Company”),
promises to pay interest on the principal amount of this Note at the rate per
annum shown above. The Company shall pay interest semiannually on April 1 and
October 1 of each year, commencing October 1, 2011. Interest on the Notes shall
accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from March 30, 2011. Interest shall be computed on the
basis of a 360-day year of twelve 30-day months. 

2. Method
of Payment 

          The
Company shall pay interest on the Notes (except defaulted interest) to the
Persons who are registered holders of Notes at the close of business on the
March 15 and September 15 next preceding the interest payment date even if
Notes are canceled after the record date and on or before the interest payment
date. Holders must surrender Notes to a Paying Agent to collect principal
payments. The Company shall pay principal and interest in money of the United
States that at the time of payment is legal tender for payment of public and
private debts. Payments in respect of the Notes represented by a Global Note
(including principal, premium, if any, and interest) shall be made by wire
transfer of immediately available funds to the accounts specified by The Depository
Trust Company. The Company shall make all payments in respect of a certificated
Security (including principal, premium, if any, and interest) by mailing a
check to the registered address of each Holder thereof; provided, however
, that payments on a certificated Security shall be made by wire transfer
to a U.S. dollar account maintained by the payee with a bank in the United
States if such Holder elects payment by wire transfer by giving written notice
to the Trustee or the Paying Agent to such effect designating such account no
later than 30 days immediately preceding the relevant due date for payment (or
such other date as the Trustee may accept in its discretion). 

3. Paving
Agent and Security Registrar 

          Initially,
Deutsche Bank Trust Company Americas (the “Trustee”), shall act as
Paying Agent and Security Registrar. The Company may appoint and change any
Paying Agent, Security Registrar or co-registrar without notice. The Company or
any wholly owned Subsidiary may act as Paying Agent, Security Registrar or
co-registrar. 

4. Indenture

          The
Company issued the Notes under an Indenture (the “Base Indenture”) dated
as of March 30, 2011 and a Supplemental Indenture (the “Supplemental
Indenture” and together with the Base Indenture, the “Indenture”)
dated as of March 30, 2011, among the Company, the Subsidiary Guarantors and
the Trustee. The terms of the Notes include those stated in the 

Exhibit B-2-5

Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of
1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the
Indenture (the “Act”). Terms defined in the Indenture and not defined
herein have the meanings ascribed thereto in the Indenture. The Notes are
subject to all such terms, and Holders are referred to the Indenture and the
Act for a statement of those terms. 

          The
Notes are general unsecured obligations of the Company. The Company shall be
entitled, to issue Additional Securities pursuant to Section 3.12 of the Base
Indenture. The Notes issued on the Issue Date and any Additional Securities
shall be treated as a single class for all purposes under the Indenture. 

5. Optional
Redemption 

          At
any time and from time to time, the Company may redeem all or a part of the
Notes, upon not less than 30 nor more than 60 days’ notice to each holder of
Notes, at a redemption price equal to the greater of: 

	
  

 	
  

 
	
  

 	
           (7)
 100% of the principal amount of the Notes redeemed, and 

 
	
  

 	
  

 
	
  

 	
           (8)
 the sum of the present values of the remaining scheduled payments of
 principal and interest on the Notes to be redeemed that would be due after
 the related redemption date but for such redemption (exclusive of interest
 accrued to the redemption date) discounted to the redemption date on a semiannual
 basis (assuming a 360-day year consisting of twelve 30-day months) at the
 applicable Treasury Yield plus 50 basis points; 

 

          plus,
in either case, accrued and unpaid interest, and Additional Interest, if any,
to the date of redemption, subject to the rights of Holders of such Notes on a
relevant record date to receive interest due on a relevant Interest Payment
Date. 

          In
addition to the Company’s right to redeem Notes as set forth in Section 3.2 of
the Supplemental Indenture, the Company may at any time and from time to time
purchase Notes in open market transactions, tender offers or otherwise. 

6. Notice
of Redemption 

          If
less than all of the Notes of a series are to be redeemed at any time, the
Notes shall be redeemed on a pro rata
basis in accordance with Section 11.3 of the Base Indenture. 

          Any
redemption of Notes pursuant to Section 3.2 of the Supplemental Indenture that
is in part processed through DTC shall be treated in accordance with the rules
and procedures of DTC as a “Pro Rata Pass-Through Distribution of Principal”
(as defined under such rules and procedures). Except to the extent modified by
the Indenture, the provisions of Article 11 of the Base Indenture shall apply
to redemptions of Notes pursuant to Section 3.2 of the Supplemental Indenture. 

Exhibit B-2-6

7. Change
of Control 

          Upon
the occurrence of a Change of Control Triggering Event, the Company will be
obligated to make an offer to purchase and each Holder of Notes will have the right
to require the Company to purchase all or any part (equal to $2,000 in
principal amount or an integral multiple of $1,000 in principal amount in
excess thereof) of that Holder’s Notes on the terms set forth herein. In the
Change of Control Offer, the Company will offer a Change of Control Payment in
cash equal to 101% of the aggregate principal amount of Notes purchased plus
accrued and unpaid interest and Additional Interest, if any, on the Notes
purchased to the date of purchase, subject to the rights of Holders of Notes on
the relevant record date to receive interest due on the relevant Interest
Payment Date. 

8. Guarantees

          The
payment by the Company of the principal of, and premium and interest on, the
Notes is fully and unconditionally guaranteed on a joint and several senior
basis by each of the Guarantors on the terms set forth in the Indenture. 

9. Denominations;
Transfer; Exchange 

          The
Notes are in registered form without coupons in denominations of $2,000
principal amount and whole multiples of $1,000 in excess thereof. A Holder may
transfer or exchange Notes in accordance with the Indenture. The Security
Registrar may require a Holder, among other things, to furnish appropriate
endorsements or transfer documents and to pay any taxes and fees required by
law or permitted by the Indenture. The Security Registrar need not register the
transfer of or exchange any Notes selected for redemption (except, in the case
of a Note to be redeemed in part, the portion of the Note not to be redeemed)
or any Notes for a period of 15 days before a selection of Notes to be redeemed
or 15 days before an interest payment date. 

10. Persons
Deemed Owners 

          The
registered Holder of this Note may be treated as the owner of it for all purposes.

11. Discharge
and Defeasance 

          Subject
to certain conditions, the Company at any time shall be entitled to terminate
some or all of its obligations under the Notes of any series and the Indenture,
including the Guarantees, if the Company deposits with the Trustee Cash in U.S.
dollars, non-callable Government Obligations, or a combination of Cash in U.S.
dollars and non-callable Government Obligations, in amounts as shall be
sufficient, without consideration of any reinvestment of interest, to pay and
discharge the entire Indebtedness on the Notes of any series not delivered to
the Trustee for 

Exhibit B-2-7

cancellation
for principal, premium, if any, and accrued interest, including Additional
Interest, if any, to the date of maturity or redemption. 

12. Defaults
and Remedies 

          Under
the Indenture, Events of Default include: 

	
  

 	
  

 	
  

 
	
  

 	
           (i)
 default for 30 days in the payment when due of interest on the Notes; 

 
	
  

 	
  

 
	
  

 	
           (ii)
 default in the payment when due (at maturity, upon redemption or otherwise)
 of the principal of, or premium, if any, on, the Notes; 

 
	
  

 	
  

 
	
  

 	
           (iii)
 failure for 3 business days by the Company to comply with Sections 3.3 or 7.2
 of the Supplemental Indenture; 

 
	
  

 	
  

 
	
  

 	
           (iv)
 failure by the Company for 60 days after written notice to the Company by the
 Trustee or the Holders of at least 25% in aggregate principal amount of the
 Pari Passu Notes then Outstanding voting as a single class to comply with any
 of the other agreements in the Indenture; 

 
	
  

 	
  

 
	
  

 	
           (v)
 default under any mortgage, indenture or instrument under which there may be
 issued or by which there may be secured or evidenced any Indebtedness for
 money borrowed by the Company or any of its Significant Subsidiaries (or the
 payment of which is guaranteed by the Company or any of its Significant
 Subsidiaries), whether such Indebtedness or Guarantee now exists, or is
 created after the Issue Date, if that default: 

 
	
  

 	
  

 
	
  

 	
  

 	
           (1)
 is caused by a failure to pay any scheduled installment of principal on such
 Indebtedness prior to the expiration of the grace period provided in such
 Indebtedness on the date of such default (a “Payment Default”); or 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
           (2)
 results in the acceleration of such Indebtedness prior to its express maturity,
 

 
	
  

 	
  

 	
  

 
	
  

 	
 and, in each
 case, the principal amount of any such Indebtedness, together with the
 principal amount of any other such Indebtedness under which there has been a
 Payment Default or the maturity of which has been so accelerated, aggregates
 $250.0 million or more; 

 
	
  

 	
  

 
	
  

 	
           (vi)
 failure by the Company or any of its Significant Subsidiaries to pay final
 and non-appealable judgments entered by a court or courts of competent
 jurisdiction aggregating in excess of $250.0 million (net of any amounts
 covered by insurance), which judgments are not paid, discharged or stayed for
 a period of 60 days; 

 
	
  

 	
  

 
	
  

 	
           (vii)
 with respect to the Company or any of its Significant Subsidiaries, (x) a
 court of competent jurisdiction enters an order or decree under any
 applicable Bankruptcy Law that: (A) is for relief against such Person or
 Persons in an involuntary case; (B) 

 

Exhibit B-2-8

	
  

 	
  

 
	
  

 	
 appoints a
 Bankruptcy Custodian of such Person or Persons or for all or substantially
 all of the property of such Person or Persons; or (C) orders the liquidation
 of such Person or Persons; and, in each case, the order or decree remains
 unstayed and in effect for 60 consecutive days; or (y) the commencement by
 such Person or Persons of a voluntary proceeding under any applicable
 bankruptcy, insolvency, reorganization (other than a reorganization under a
 foreign law that does not relate to insolvency) or other similar law or of a
 voluntary proceeding seeking to be adjudicated insolvent or the consent by
 such Person or Persons to the entry of a decree or order for relief in an
 involuntary proceeding under any applicable bankruptcy, insolvency,
 reorganization or other similar law or to the commencement of any insolvency
 proceedings against it or them, or the filing by such Person or Persons of a
 petition or answer or consent seeking reorganization, arrangement, adjustment
 or composition of such Person or Persons under any such applicable law, or
 the consent by such Person or Persons to the filing of such petition or to the
 appointment of or taking possession by a custodian, receiver, liquidator,
 assignee, trustee or similar official of such Person or Persons or any
 substantial part of the property of such Person or Persons or the making by
 such Person or Persons of an assignment for the benefit of creditors, or the
 taking of corporate action by such Person or Persons in furtherance of any
 such action or the admitting in writing by such Person or Persons of its or
 their inability to pay its or their debts generally as they become due; 

 
	
  

 	
  

 
	
  

 	
           (viii)
 (x) any Note Guarantee with respect to a Note of any Guarantor that is a
 Significant Subsidiary, (A) ceases to be in full force and effect (other than
 in accordance with the terms of such Note Guarantee or Guarantees, as applicable,
 and the Indenture) or (B) is declared null and void and unenforceable or
 found to be invalid or (y) any Guarantor that is a Significant Subsidiary
 denies its liability under its Note Guarantee with respect to a Note of such
 series (other than by reason of release of a Guarantor from its Note
 Guarantee in accordance with the terms of the Indenture and the Note
 Guarantee); and 

 
	
  

 	
  

 
	
  

 	
           (ix)
 any security interest and Lien purported to be created by any Security
 Document with respect to any Collateral, individually or in the aggregate,
 having a fair market value in excess of $250.0 million shall cease to be in
 full force and effect, or shall cease to give the Notes Collateral Agent, for
 the benefit of the Holders, the Liens, rights, powers and privileges
 purported to be created and granted thereby (including a perfected
 second-priority security interest in and Lien on, all of the Collateral
 thereunder (except as otherwise expressly provided in the Indenture, the
 Security Documents and the Intercreditor Agreements)) in favor of the Notes
 Collateral Agent, or shall be asserted by the Company or any Guarantor to not
 be, a valid, perfected, second-priority (except as otherwise expressly
 provided in the Indenture, the Security Documents or any Intercreditor
 Agreement) security interest in or Lien on such Collateral covered thereby;
 except to the extent that any such loss of perfection or priority results
 from the failure of the Notes Collateral Agent or the Trustee (or an agent or
 trustee on its behalf) to maintain possession of certificates actually
 delivered to it (or such agent or trustee) representing securities pledged
 under the Security Documents. 

 

Exhibit B-2-9

13. No
Recourse Against Others 

          No
director, officer, employee, incorporator or stockholder of the Company or any
Guarantor, as such, will have any liability for any obligations of the Company
or the Guarantors under the Notes, the Indenture, the Guarantees, the Security
Documents or the Registration Rights Agreement or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each holder of
Notes by accepting a Note waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes. The waiver
may not be effective to waive liabilities under the federal securities laws. 

14. Authentication

          This
Note shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the
other side of this Note. 

15. Abbreviations

          Customary
abbreviations may be used in the name of a Holder or an assignee, such as TEN
COM (=tenants in common), TEN ENT (=tenants by the entireties), IT TEN (joint
tenants with rights of survivorship and not as tenants in common), CUST
(=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

16. CUSIP
Numbers 

          The
Company has caused CUSIP numbers to be printed on the Notes and has directed
the Trustee to use CUSIP numbers in notices of redemption as a convenience to
Holders. No representation is made as to the accuracy of such numbers either as
printed on the Notes or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon. 

17. Governing
Law 

          THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER
THE LAWS OF THE STATE OF NEW YORK AND SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED WHOLLY WITHIN SUCH STATE. 

Exhibit B-2-10

ASSIGNMENT FORM

	
  

 	
  

 
	
 To assign
 this Security, fill in the form below: 

 	
  

 
	
  

 	

 

 

	
  

 	
  

 
	
 I or we assign and transfer this Security to

 
	
  

 	

 

 
	
  

 	
 (Print or type assignee’s name, address and zip code)

 
	
  

 	
  

 
	

 

 
	
 (Insert assignee’s sec. sec. or tax I.D. No.)

 

and
irrevocably appoint ____________________________________ agent to transfer this
Security on the books of the Company. The agent may substitute another to act
for him. 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date:

 	
  

 	
  

 	
 Your
 Signature:

 	
  

 
	
  

 	

 

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 	
 Sign exactly
 as your name appears

 on the other side of this Security.

 

Exhibit B-2-11

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
NOTE

The following
increases or decreases in this Global Note have been made: 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date of

 Exchange

 	
  

 	
 Amount of

 decrease in

 Principal amount

 of this Global

 Security

 	
  

 	
 Amount of

 increase in

 Principal amount

 of this Global

 Security

 	
  

 	
 Principal amount

 of this Global

 Note following

 such

 decrease or

 increase

 	
  

 	
 Signature of

 authorized

 officer of

 Trustee or

 Securities

 Custodian

 
	

 

 	
  

 	

 

 	
  

 	

 

 	
  

 	

 

 	
  

 	

 

 

Exhibit B-2-12

OPTION OF HOLDER TO ELECT PURCHASE

          If
you want to elect to have this Security purchased by the Company pursuant to
Section 4.07 or 4.09 of the Indenture, check the box: o

          If
you want to elect to have only part of this Security purchased by the Company
pursuant to Section 4.07 or 4.09 of the Indenture, state the amount in
principal amount: $________ 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Date:

 	
  

 	
  

 	
 Your
 Signature:

 	
  

 
	
  

 	

 

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 	
 Sign exactly
 as your name appears

 on the other side of this Security.

 

	
  

 	
  

 	
  

 
	
 Signature
 Guarantee:

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 (Signature
 must be guaranteed)

 

          Signatures
must be guaranteed by an “eligible guarantor institution” meeting the
requirements of the Security Registrar, which requirements include membership
or participation in the Security Transfer Agent Medallion Program (“STAMP”) or
such other “signature guarantee program” as may be determined by the Security
Registrar in addition to, or in substitution for, STAMP, all in accordance with
the United States Securities Exchange Act of 1934, as amended. 

Exhibit B-2-13

EXHIBIT C 

[FORM OF]

TRANSFEREE LETTER OF REPRESENTATION

	
  

 
	
 CIT Group
 Inc..

 
	
 c/o Deutsche
 Bank Trust Company Americas

 
	
 60 Wall
 Street, 26th Floor

 
	
 New York, NY
 10005

 
	
 Facsimile:
 (212) 553-2460

 
	
 Attention:
 Corporate Trust Administration 

 
	
  

 
	
 Ladies and
 Gentlemen: 

 

          This
certificate is delivered to request a transfer of
$[     ] principal amount of the
[     ] % Series C Second-Priority Secured Notes due [          ]
(the “Notes”) of CIT Group Inc. (the “Company”). 

          Upon
transfer, the Notes would be registered in the name of the new beneficial owner
as follows: 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Name:

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Address:

 	
  

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Taxpayer ID Number: 

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 

          The
undersigned represents and warrants to you that: 

          1.
We are an institutional “accredited investor” (as defined in Rule 501(a)(1),
(2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities
Act”)), purchasing for our own account or for the account of such an
institutional “accredited investor” at least $250,000 principal amount of the
Notes, and we are acquiring the Notes not with a view to, or for offer or sale
in connection with, any distribution in violation of the Securities Act. We
have such knowledge and experience in financial and business matters as to be
capable of evaluating the merits and risks of our investment in the Notes, and
we invest in or purchase securities similar to the Notes in the normal course of
our business. We, and any accounts for which we are acting, are each able to
bear the economic risk of our or its investment. 

          2.
We understand that the Notes have not been registered under the Securities Act
and, unless so registered, may not be sold except as permitted in the following
sentence. We agree on our own behalf and on behalf of any investor account for
which we are purchasing Notes to offer, sell or otherwise transfer such Notes
prior to the date that is two years after the later of the date of original
issue and the last date on which either the Company or any affiliate of such
Company was the owner of such Notes (or any predecessor thereto) (the “Resale
Restriction Termination Date”) only (a) in the United States to a person whom we
reasonably believe is a 

Exhibit C-1

qualified
institutional buyer (as defined in rule 144A under the Securities Act) in a
transaction meeting the requirements of Rule 144A, (b) outside the United
States in an offshore transaction in accordance with Rule 904 of Regulation S
under the Securities Act, (c) pursuant to an exemption from registration under
the Securities Act provided by Rule 144 thereunder (if applicable) or (d)
pursuant to an effective registration statement under the Securities Act, in each
of cases (a) through (d) in accordance with any applicable securities laws of
any state of the United States. In addition, we will, and each subsequent
holder is required to, notify any purchaser of the Note evidenced hereby of the
resale restrictions set forth above. The foregoing restrictions on resale will
not apply subsequent to the Resale Restriction Termination Date. If any resale
or other transfer of the Notes is proposed to be made to an institutional
“accredited investor” prior to the Resale Restriction Termination Date, the
transferor shall deliver a letter from the transferee substantially in the form
of this letter to the Company and the Trustee, which shall provide, among other
things, that the transferee is an institutional “accredited investor” within
the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and
that it is acquiring such Notes for investment purposes and not for
distribution in violation of the Securities Act. Each purchaser acknowledges
that the Company and the Trustee reserve the right prior to the offer, sale or
other transfer prior to the Resale Restriction Termination Date of the Notes
pursuant to clause 1(b), 1(c) or 1(d) above to require the delivery of an
opinion of counsel, certifications or other information satisfactory to the
Company and the Trustee. 

	
  

 	
  

 	
  

 	
  

 
	
 Dated: 

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	
  

 
	
  

 
	
  

 	
  

 	
  

 	
 TRANSFEREE: _________________________________,

 
	
  

 	
  

 	
  

 	
                         By:

 

Exhibit C-2

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