Document:

EX-4.4

 Exhibit 4.4 
  

 
  

SUNOCO LOGISTICS PARTNERS OPERATIONS L.P. 

As Issuer, 
 SUNOCO
LOGISTICS PARTNERS L.P. 
 As Guarantor, and 

U.S. BANK NATIONAL ASSOCIATION, As Trustee 
  

 
 THIRTEENTH
SUPPLEMENTAL INDENTURE 
 Dated as of November 17, 2015 

to 
 Indenture dated as
of December 16, 2005 
  
  

$400,000,000 
 5.95%
Senior Notes due 2025 
  
  

 

 TABLE OF CONTENTS 

 

							
	 ARTICLE I. THE NOTES
	  	 	2	  
			
	 SECTION 1.1
	 	 Form
	  	 	2	  
	 SECTION 1.2
	 	 Title, Amount and Payment of Principal and Interest
	  	 	2	  
	 SECTION 1.3
	 	 Registrar and Paying Agent
	  	 	3	  
	 SECTION 1.4
	 	 Transfer and Exchange
	  	 	3	  
	 SECTION 1.5
	 	 Legends
	  	 	3	  
	 SECTION 1.6
	 	 Guarantee of the Notes
	  	 	3	  
	 SECTION 1.7
	 	 Defeasance and Discharge
	  	 	4	  
	 SECTION 1.8
	 	 Additional Covenants
	  	 	4	  
	 SECTION 1.9
	 	 Additional Default
	  	 	7	  
	 SECTION 1.10
	 	 Additional Definitions
	  	 	7	  
		
	 ARTICLE II. REDEMPTION
	  	 	11	  
			
	 SECTION 2.1
	 	 Redemption
	  	 	11	  
		
	 ARTICLE III. MISCELLANEOUS PROVISIONS
	  	 	11	  
			
	 SECTION 3.1
	 	 Table of Contents, Headings, etc.
	  	 	11	  
	 SECTION 3.2
	 	 Counterpart Originals
	  	 	11	  
	 SECTION 3.3
	 	 Governing Law
	  	 	11	  
			
	 EXHIBIT A
	 	 Form of Note
	  	 	A-1	  
			
	 ANNEX A
	 	 Form of Supplemental Indenture
	  	 	Annex-1	  

 THIS THIRTEENTH SUPPLEMENTAL INDENTURE dated as of November 17, 2015 is among Sunoco
Logistics Partners Operations L.P., a Delaware limited partnership (the “Partnership”), Sunoco Logistics Partners L.P., a Delaware limited partnership (the “Guarantor”), and U.S. Bank National
Association, a national banking association, as successor trustee (the “Trustee”). Each capitalized term used but not defined in this Thirteenth Supplemental Indenture shall have the meaning assigned to such term in the
Original Indenture (as defined below). 
 RECITALS: 

WHEREAS, the Partnership, the Guarantor and the Subsidiary Guarantors named therein have executed and delivered to the Trustee an Indenture
dated as of December 16, 2005 (the “Original Indenture”), providing for the issuance by the Partnership from time to time of its debentures, notes, bonds or other evidences of indebtedness, issued and to be issued in one
or more series unlimited as to principal amount (the “Debt Securities”), and the guarantee of the Debt Securities by one or more of the Subsidiary Guarantors and the Guarantor (the “Guarantee”); 

WHEREAS, U.S. Bank National Association replaced Citibank, N.A. as the trustee under the Original Indenture, pursuant to the Agreement of
Resignation, Appointment and Acceptance dated as of April 9, 2007 among the Partnership, Citibank, N.A. and U.S. Bank National Association; 

WHEREAS, the Partnership has duly authorized and desires to issue pursuant to the Original Indenture, as supplemented and amended by this
Thirteenth Supplemental Indenture (the “Thirteenth Supplemental Indenture” and, together with the Original Indenture, the “Indenture”), a new series of Debt Securities designated the “5.95% Senior
Notes due 2025” (the “Notes”), all of such Notes to be guaranteed by the Guarantor as provided in Article XIV of the Original Indenture; 

WHEREAS, the Partnership desires to issue the Notes pursuant to Sections 2.01 and 2.03 of the Original Indenture, which Sections permit the
execution of supplemental indentures to establish the form and terms of Debt Securities of any series; 
 WHEREAS, pursuant to
Section 9.01 of the Original Indenture, the Partnership and the Guarantor have requested that the Trustee join in the execution of this Thirteenth Supplemental Indenture to establish the form and terms of the Notes; 

WHEREAS, all things necessary have been done to make the Notes, when executed by the Partnership and authenticated and delivered under the
Indenture and duly issued by the Partnership, and the Guarantee of the Guarantor, when the Notes are duly issued by the Partnership, the valid obligations of the Partnership and the Guarantor, respectively, and to make this Thirteenth Supplemental
Indenture a valid agreement of the Partnership and the Guarantor enforceable in accordance with its terms. 

  
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 NOW, THEREFORE, the Partnership, the Guarantor and the Trustee hereby agree that the following
provisions shall supplement the Original Indenture: 
 ARTICLE I. 

THE NOTES 
  

	 	SECTION 1.1	Form. 

 The Notes and the Trustee’s certificate of authentication shall be
substantially in the form of Exhibit A to this Thirteenth Supplemental Indenture, which is hereby incorporated into this Thireenth Supplemental Indenture. The terms and provisions contained in the Notes shall constitute, and are hereby
expressly made, a part of this Thirteenth Supplemental Indenture and to the extent applicable, the Partnership, the Guarantor and the Trustee, by their execution and delivery of this Thirteenth Supplemental Indenture, expressly agree to such terms
and provisions and to be bound thereby. 
 The Notes shall be issued upon original issuance in whole in the form of one or more Global
Securities (the “Book-Entry Notes”). Each Book-Entry Note shall represent such of the Outstanding Notes as shall be specified therein and shall provide that it shall represent the aggregate amount of Outstanding Notes from
time to time endorsed thereon and that the aggregate amount of Outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Book-Entry Note to reflect
the amount, or any increase or decrease in the amount, of Outstanding Notes represented thereby shall be made by the Trustee in accordance with written instructions or such other written form of instructions as is customary for the Depositary, from
the Depositary or its nominee on behalf of any Person having a beneficial interest in the Book-Entry Note. 
 The Partnership initially
appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Book-Entry Notes. 
  

	 	SECTION 1.2	Title, Amount and Payment of Principal and Interest. 

 The Notes shall be entitled
the “5.95% Senior Notes due 2025.” The Trustee shall authenticate and deliver (i) Notes for original issue on the date hereof (the “Original Notes”) in the aggregate principal amount of $400,000,000 and
(ii) additional Notes for original issue from time to time after the date hereof in such principal amounts as may be specified in the Partnership Order described in this sentence, provided that no such additional Notes may be issued at a price
that would cause such Notes to have “original issue discount” within the meaning of the Internal Revenue Code of 1986, as amended, in each case upon a Partnership Order for the authentication and delivery thereof and satisfaction of the
other provisions of Section 2.05 of the Original Indenture. Such order shall specify the amount of the Notes to be authenticated, the date on which the original issue of Notes is to be authenticated, and the name or names of the initial Holder
or Holders. The aggregate principal amount of Notes that may be outstanding at any time may not exceed $400,000,000 plus such additional principal amounts as may be issued and authenticated pursuant to clause (ii) of this paragraph (except as
provided in Section 2.09 of the Original Indenture). Any such additional Notes issued in this manner will be consolidated with, and will form a single series with, the Original Notes. 

The principal amount of each Note shall be payable on December 1, 2025. Each Note shall bear interest from the date of original issuance,
or the most recent date to which interest has 

  
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been paid, at the fixed rate of 5.95% per annum. The dates on which interest on the Notes shall be payable shall be June 1 and December 1 of each year, commencing June 1, 2016
in the case of the Original Notes (the “Interest Payment Dates”). The regular record date for interest payable on the Notes on any Interest Payment Date shall be May 15 and November 15 (the “Regular
Record Date”), as the case may be, next preceding such Interest Payment Date. 
 Payments of principal of, premium, if any, and
interest due on the Book-Entry Notes on any Interest Payment Date or at maturity will be made available to the Trustee by 11:00 a.m., New York City time, on such date, unless such date falls on a day which is not a Business Day, in which case such
payments will be made available to the Trustee by 11:00 a.m., New York City time, on the next Business Day. As soon as possible thereafter, the Trustee will make such payments to the Depositary. 

 

	 	SECTION 1.3	Registrar and Paying Agent. 

 The Partnership initially appoints the Trustee as
Registrar and paying agent with respect to the Notes. The office or agency in the City and State of New York where Notes may be presented for registration of transfer or exchange and the Place of Payment for the Notes shall initially be U.S. Bank
National Association, 100 Wall Street, Suite 1600, New York, New York 10005, Attention: Corporate Trust Department. 
  

	 	SECTION 1.4	Transfer and Exchange. 

 Transfer and Exchange of Notes in Definitive Form.
Notes in definitive form shall be presented or surrendered for registration of transfer or exchange pursuant to Section 2.07 of the Original Indenture. 

Transfer and Exchange of Global Notes. The transfer and exchange of Book-Entry Notes or beneficial interests therein shall be effected
through the Depositary, in accordance with Section 2.15 of the Original Indenture. 
  

	 	SECTION 1.5	Legends. 

 Each certificate evidencing the Book-Entry Notes shall bear the legend
specified in Section 2.15 of the Original Indenture. 
  

	 	SECTION 1.6	Guarantee of the Notes. 

 In accordance with Article XIV of the Original
Indenture, the Notes will be fully, unconditionally and absolutely guaranteed on an unsecured, unsubordinated basis by the Guarantor. Initially, there will not be any other guarantors of the Notes. 

Section 14.04(a) is amended with respect to the Notes by (i) adding the words “with respect to the Notes” after the word
“Default” in the final sentence thereof and (ii) substituting the words “Funded Debt” for the word “Debt” in such sentence. 

  
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	 	SECTION 1.7	Defeasance and Discharge. 

 The Notes shall be subject to satisfaction and
discharge and to both legal defeasance and covenant defeasance as contemplated by Article XI of the Original Indenture. 
  

	 	SECTION 1.8	Additional Covenants. 

 Pursuant to Section 9.01 of the Original Indenture,
the following covenants of the Partnership are made in relation solely to the Notes by adding the following Sections to Article IV of the Original Indenture: 

Section 4.12 Limitations on Liens. 

(i) The Partnership will not, nor will the Partnership permit any Subsidiary to, create, assume, incur or suffer to exist any
Lien upon any Principal Property, or upon any shares of capital stock of any Subsidiary owning or leasing any Principal Property, whether owned or leased on the date of the Thirteenth Supplemental Indenture or thereafter acquired, to secure any Debt
of the Partnership or Debt of any other Person, other than the Notes and any other Debt Securities issued under the Indenture, without making effective provision for all the Notes outstanding under the Indenture to be secured equally and ratably
with, or prior to, that Debt so long as that Debt is so secured. 
 There is excluded from this restriction: 

(1) Permitted Liens; 

(2) any Lien upon any property or asset created at the time of the acquisition of that property or asset by the Partnership or
any of its Subsidiaries or within one year after that time to secure all or a portion of the purchase price for that property or asset or Debt incurred to finance the purchase price, whether that Debt was incurred prior to, at the time of or within
one year after the date of the acquisition; 
 (3) any Lien upon any property or asset to secure all or part of the cost of
construction, development, repair or improvements thereon or to secure Debt incurred prior to, at the time of, or within one year after completion of the construction, development, repair or improvements or the commencement of full operations
thereof, whichever is later, to provide funds for that purpose; 
 (4) any Lien upon any property or asset existing thereon
at the time of the acquisition thereof by the Partnership or any of its Subsidiaries, whether or not the obligations secured thereby are assumed by the Partnership or by any of its Subsidiaries; provided, however, that the Lien only encumbers the
property or asset so acquired; 
 (5) any Lien upon any property or asset of an entity existing thereon at the time that
entity becomes a Subsidiary by acquisition, merger or otherwise; provided, however, that the Lien only encumbers the property or asset of that entity at the time it becomes a Subsidiary; 

  
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 (6) any Lien upon any property or asset of the Partnership or any of its
Subsidiaries in existence on the date the Notes are first issued or provided for pursuant to agreements existing on that date, including, without limitation, pursuant to the revolving credit facility of the Partnership; 

(7) Liens imposed by law or order as a result of any proceeding before any court or regulatory or body that is being contested
in good faith, and Liens which secure a judgment or other court-ordered award or settlement as to which the Partnership or the applicable Subsidiary has not exhausted its appellate rights; 

(8) any extension, renewal, refinancing, refunding or replacement, or successive extensions, renewals, refinancings, refundings
or replacements, of Liens, in whole or in part, referred to in clauses (1) through (7) above; provided, however, that any extension, renewal, refinancing, refunding or replacement Lien shall be limited to the property or asset covered by
the Lien extended, renewed, refinanced, refunded or replaced and that the obligations secured by any extension, renewal, refinancing, refunding or replacement Lien shall be in an amount not greater than the amount of the obligations secured by the
Lien extended, renewed, refinanced, refunded or replaced and any expenses of the Partnership and its Subsidiaries, including any premium, incurred in connection with any extension, renewal, refinancing, refunding or replacement; or 

(9) any Lien resulting from the deposit of moneys or evidence of indebtedness in trust for the purpose of defeasing Debt of the
Partnership or any of its Subsidiaries. 
 (ii) Notwithstanding the preceding, under the Indenture, the Partnership may, and
may permit any Subsidiary to, create, assume, incur, or suffer to exist any Lien upon any Principal Property or upon any shares of capital stock of any Subsidiary owning or leasing any Principal Property to secure Debt of the Partnership or any
other Person, other than the Notes and any other Debt Securities issued under the Indenture, that is not excepted by clauses (1) through (9) above, without securing the Notes; provided that the aggregate principal amount of all Debt then
outstanding secured by that Lien and all similar Liens, together with all Attributable Indebtedness from Sale-Leaseback Transactions (excluding Sale-Leaseback Transactions permitted by clauses (1) through (4), inclusive, of
Section 4.13(i)) does not exceed 10% of Consolidated Net Tangible Assets. 

  
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 Section 4.13 Restrictions on Sale-Leasebacks. 

(i) The Partnership will not, and will not permit any of its Subsidiaries to, engage in the sale or transfer by the Partnership
or any of its Subsidiaries of any Principal Property to a Person, other than the Partnership or any of its Subsidiaries, and the taking back by the Partnership or any Subsidiary, as the case may be, of a lease of the Principal Property (a
“Sale-Leaseback Transaction”), unless: 
 (1) the Sale-Leaseback Transaction occurs within one year from the date
of completion of the acquisition of the Principal Property subject thereto or the date of the completion of construction, development or substantial repair or improvement, or commencement of full operations on the Principal Property, whichever is
later; 
 (2) the Sale-Leaseback Transaction involves a lease for a period, including renewals, of not more than three years;

 (3) the Partnership or the Subsidiary would be entitled to incur Debt secured by a Lien on the Principal Property subject
thereto in a principal amount equal to or exceeding the Attributable Indebtedness from the Sale-Leaseback Transaction without equally and ratably securing the Notes; or 

(4) the Partnership or a Subsidiary, within a one-year period after the Sale-Leaseback Transaction, applies or causes to be
applied an amount not less than the Attributable Indebtedness from the Sale-Leaseback Transaction to: 
 (A) the prepayment,
repayment, redemption, reduction or retirement of any Debt of the Partnership or Debt of any Subsidiary that is not subordinated to the Notes; or 

(B) the expenditure or expenditures for Principal Property used or to be used in the ordinary course of the Partnership’s
business or the business of its Subsidiaries. 
 (ii) Notwithstanding the preceding, the Partnership may, and may permit any Subsidiary to,
effect any Sale-Leaseback Transaction that is not excepted by clauses (1) through (4), inclusive, of Section 4.13(i), provided that the Attributable Indebtedness from the Sale-Leaseback Transaction and any other Sale-Leaseback Transaction
that is not so excepted, together with the aggregate principal amount of outstanding Debt, other than the Notes and any other Debt Securities issued under the Indenture, secured by Liens upon Principal Properties, or upon any shares of capital stock
of any Subsidiary owning or leasing any Principal Property, and in any case not excepted by clauses (1) through (9), inclusive, of Section 4.12(i), does not exceed 10% of the Consolidated Net Tangible Assets. 

Section 4.14 Future Subsidiary Guarantors. 

The Partnership shall cause each of its Subsidiaries that guarantees or becomes a co-obligor in respect of any Funded Debt of the Partnership
at any time after the date of the Thirteenth Supplemental Indenture (including, without limitation, following any release of such Subsidiary pursuant to Section 14.04 of the Original Indenture from any Guarantee previously provided by it under
Article XIV), to cause such Subsidiary to guarantee the Notes, but only to the extent that the Notes are not already guaranteed by such Subsidiary, by executing and delivering to the Trustee, within thirty days thereafter, a supplemental indenture
substantially in the form attached to the Thirteenth Supplemental Indenture as Annex A. 

  
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	 	SECTION 1.9	Additional Default. 

 In accordance with Section 9.01(b) of the Original
Indenture, Section 6.01 is amended solely with respect to the Notes by deleting paragraph (h) and inserting in lieu thereof: 

(h) the acceleration of the maturity of any other Debt of the Partnership or any of its Subsidiaries or a default in the payment of any
principal or interest in respect of any other Debt of the Partnership or any of its Subsidiaries having an outstanding principal amount of $25 million or more individually or in the aggregate and such default shall be continuing for a period of 30
days. 
  

	 	SECTION 1.10	Additional Definitions. 

 In accordance with Section 9.01 of the Original
Indenture, the following terms are inserted into Section 1.01 of the Original Indenture in the appropriate alphabetical order and made applicable only to the Notes: 

“Attributable Indebtedness,” when used with respect to any Sale-Leaseback Transaction, means, as at the time of
determination, the present value, discounted at the rate set forth or implicit in the terms of the lease included in the transaction, of the total obligations of the lessee for rental payments, other than amounts required to be paid on account of
property taxes, maintenance, repairs, insurance, assessments, utilities, operating and labor costs and other items that constitute payments for property rights, during the remaining term of the lease included in the Sale-Leaseback Transaction,
including any period for which the lease has been extended. In the case of any lease that is terminable by the lessee upon the payment of a penalty or other termination payment, the amount shall be the lesser of the amount determined assuming
termination upon the first date the lease may be terminated, in which case the amount shall also include the amount of the penalty or termination payment, but no rent shall be considered as required to be paid under the lease subsequent to the first
date upon which it may be so terminated, or the amount determined assuming no termination. 
 “Commodity Trading
Obligations” with respect to any Person, means the obligations of such Person under (1) any commodity swap agreement, commodity future agreement, commodity option agreement, commodity cap agreement, commodity floor agreement, commodity
collar agreement, commodity hedge agreement, and any put, call or other agreement or arrangement, or combination thereof, designed to protect such Person against fluctuations in commodity prices or (2) any commodity swap agreement, commodity
future agreement, commodity option agreement, commodity hedge agreement, and any put, call or other agreement or arrangement, or combination thereof (including an agreement or arrangement to hedge foreign exchange risks) in respect of commodities
entered into by the Partnership pursuant to asset optimization and risk management policies and procedures adopted in good faith by the Board of Directors. 

  
 7 

 “Consolidated Net Tangible Assets” means, at any date of determination,
the total amount of assets after deducting: (1) all current liabilities, excluding: 
 (A) any current liabilities that
by their terms are extendable or renewable at the option of the obligor to a time more than one year after the time as of which the amount is being computed; and 

(B) current maturities of long-term debt; and 

(2) the value, net of any applicable reserves, of all goodwill, trade names, trademarks, patents and other like intangible
assets, 
 all as set forth, or as on a pro forma basis would set forth, on the consolidated balance sheet of the Partnership for its most
recently completed fiscal quarter, prepared in accordance with GAAP. 
 “Funded Debt” means all Debt:
(1) maturing one year or more from the date of its creation; (2) directly or indirectly renewable or extendable, at the option of the debtor, by its terms or by the terms of any instrument or agreement relating to the Debt, to a date one
year or more from the date of its creation; or (3) under a revolving credit or similar agreement obligating the lender or lenders to extend credit over a period of one year or more. 

“Notes” means the Partnership’s 5.95% Senior Notes due 2025. 

“Permitted Hedging Obligations” of any Person shall mean (1) hedging obligations entered into in the ordinary
course of business and in accordance with such Person’s established risk management policies that are designed to protect such Person against, among other things, fluctuations in interest rates or currency exchange rates and which in the case
of agreements relating to interest rates shall have a notional amount no greater than the payments due with respect to the Debt being hedged thereby and (2) Commodity Trading Obligations. 

“Permitted Liens” means: 

(1) Liens upon rights of way for pipeline purposes; 

(2) any statutory or governmental Lien or Lien arising by operation of law, or any mechanic’s, repairman’s,
materialman’s, supplier’s, carrier’s, landlord’s, warehouseman’s or similar Lien incurred in the ordinary course of business which is not yet due or which is being contested in good faith by appropriate proceedings and any
undetermined Lien which is incidental to construction, development, improvement or repair; 
 (3) the right reserved to, or
vested in, any municipality or public authority by the terms of any right, power, franchise, grant, license, permit or by any provision of law, to purchase or recapture or to designate a purchaser of, any property; 

  
 8 

 (4) Liens of taxes and assessments which are (A) for the then current year,
(B) not at the time delinquent, or (C) delinquent but the validity of which is being contested at the time by the Partnership or any of its Subsidiaries in good faith; 

(5) Liens of, or to secure performance of, leases, other than capital leases; 

(6) any Lien upon, or deposits of, any assets in favor of any surety company or clerk of court for the purpose of obtaining
indemnity or stay of judicial proceedings; 
 (7) any Lien upon property or assets acquired or sold by the Partnership or by
any of its Subsidiaries resulting from the exercise of any rights arising out of defaults on receivables; 
 (8) any Lien
incurred in the ordinary course of business in connection with worker’s compensation, unemployment insurance, temporary disability, social security, retiree health or similar laws or regulations or to secure obligations imposed by statute or
governmental regulations; 
 (9) any Lien in favor of the Partnership or any of its Subsidiaries; 

(10) any Lien in favor of the United States of America or any state of the United States, or any department, agency or
instrumentality or political subdivision of the United States of America or any state of the United States, to secure partial, progress, advance, or other payments pursuant to any contract or statute, or any Debt incurred by the Partnership or any
of its Subsidiaries for the purpose of financing all or any part of the purchase price of, or the cost of constructing, developing, repairing or improving, the property or assets subject to the Liens; 

(11) any Lien securing industrial development, pollution control or similar revenue bonds; 

(12) any Lien securing debt of the Partnership or any of its Subsidiaries, all or a portion of the net proceeds of which are
used, substantially concurrent with the funding thereof (and for purposes of determining “substantial concurrence,” taking into consideration, among other things, required notices to be given to Holders of Outstanding Notes in connection
with the refunding, refinancing or repurchase, and the required corresponding durations thereof), to refinance, refund or repurchase all Outstanding Notes, including the amount of all accrued interest thereon and reasonable fees and expenses and
premium, if any, incurred by the Partnership or any of its Subsidiaries in connection therewith; 
 (13) Liens in favor of
any Person to secure obligations under the provisions of any letters of credit, bank guarantees, bonds or surety obligations required or requested by any governmental authority in connection with any contract or statute; 

  
 9 

 (14) any easements, exceptions or reservations in any property or assets of the
Partnership or any Subsidiary granted or reserved for the purpose of pipelines, roads, the removal of oil, gas, coal or other minerals, and other like purposes, or for the joint or common use of real property, facilities and equipment, which are
incidental to, and do not materially interfere with, the ordinary conduct of its business or the business of the Partnership and its Subsidiaries, taken as a whole; 

(15) Liens securing Permitted Hedging Obligations; or 

(16) any Lien upon or deposits of any assets to secure performance of bids, trade contracts, leases or statutory obligations.

 “Principal Property” means, whether owned or leased on the date of the Thirteenth Supplemental Indenture or
thereafter acquired, any pipeline, terminal or other logistics property or asset of the Partnership or any of its Subsidiaries, including any related property or asset employed in the transportation, distribution, storage, terminalling, processing
or marketing of crude oil, refined products (including gasoline, diesel fuel, jet fuel, heating oil, distillates, liquefied petroleum gas, natural gas liquids, blend stocks, ethanol, xylene, toluene and petrochemical feedstocks) or fuel additives,
that is located in the United States of America or any territory or political subdivision thereof, except: 
 (1) any of
those properties or assets consisting of inventories, furniture, office fixtures and equipment, including data processing equipment, vehicles and equipment used on, or with, vehicles; and 

(2) any of those properties or assets which, in the opinion of the board of directors of the General Partner, is not material
in relation to the activities of the Partnership or its Subsidiaries, taken as a whole. 
 “Sale-Leaseback
Transaction” has the meaning attributed thereto in Section 4.13. 
 “Thirteenth Supplemental Indenture”
means the Thirteenth Supplemental Indenture among the Partnership, the Guarantor and the Trustee dated as of November 17, 2015 relating to the Partnership’s 5.95% Senior Notes due 2025. 

  
 10 

 ARTICLE II. 

REDEMPTION 
  

	 	SECTION 2.1	Redemption. 

 The Partnership shall have no obligation to redeem, purchase or
repay the Notes pursuant to any mandatory redemption, sinking fund or analogous provisions or at the option of a Holder thereof. The Partnership, at its option, may redeem the Notes in accordance with the provisions of paragraph 5 of the Notes and
Article III of the Original Indenture. 
 ARTICLE III. 

MISCELLANEOUS PROVISIONS 
  

	 	SECTION 3.1	Table of Contents, Headings, etc. 

 The table of contents and headings of
the Articles and Sections of this Thirteenth Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 

 

	 	SECTION 3.2	Counterpart Originals. 

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

	 	SECTION 3.3	Governing Law. 

 THIS THIRTEENTH SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [Signature Pages Follow] 

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

			
	SUNOCO LOGISTICS PARTNERS OPERATIONS L.P.
		
	By:	 	 SUNOCO LOGISTICS PARTNERS GP LLC,
 its
General Partner

		
	By:	 	 /s/ Michael J. Hennigan

		 	Michael J. Hennigan
		 	President and Chief Executive Officer
	
	SUNOCO LOGISTICS PARTNERS L.P.
		
	By:	 	SUNOCO PARTNERS LLC, its General Partner
		
	By:	 	 /s/ Michael J. Hennigan

		 	Michael J. Hennigan
		 	President and Chief Executive Officer
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ George Rayzis

		 	George Rayzis
		 	Vice President

  
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 Exhibit A 

FORM OF NOTE 
 [FACE OF
SECURITY] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”), A NEW YORK
CORPORATION, NEW YORK, NEW YORK, TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY 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 SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO HEREIN. 
  

			
	No. R-1	  	 Principal Amount
  

$        , which amount may be

increased or decreased by the Schedule

of Increases and Decreases in Global Security attached hereto.

 SUNOCO LOGISTICS PARTNERS OPERATIONS L.P. 

5.95% SENIOR NOTE DUE 2025 

CUSIP 86765B AS8 
 SUNOCO
LOGISTICS PARTNERS OPERATIONS L.P., a Delaware limited partnership (the “Partnership,” which term includes any successor under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co. or its
registered assigns, the principal sum of          U.S. dollars ($        ), or such greater or lesser principal sum as is shown on the attached Schedule of Increases and
Decreases in Global Security, on December 1, 2025 in such coin and currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest at an annual rate of
5.95% payable on June 1 and December 1 of each year, to the person in whose name the Security is registered at the close of business on the record date for such interest, which shall be the preceding May 15 and November 15 (each,
a “Regular Record Date”), respectively, payable commencing on June 1, 2016, with interest accruing from November 17, 2015, or the most recent date to which interest shall have been paid. 

  
 A-1 

 Reference is made to the further provisions of this Security set forth on the reverse hereof.
Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 The statements in the
legends set forth in this Security are an integral part of the terms of this Security and by acceptance hereof the Holder of this Security agrees to be subject to, and bound by, the terms and provisions set forth in each such legend. 

This Security is issued in respect of a series of Debt Securities of an initial aggregate principal amount of $400,000,000, designated as the
5.95% Senior Notes due 2025 of the Partnership, which are governed by the Indenture dated as of December 16, 2005 (the “Original Indenture”), among the Partnership, Sunoco Logistics Partners L.P., a Delaware limited partnership (the
“Guarantor”), the Subsidiary Guarantors named therein and Citibank, N.A., as initial trustee, as supplemented and amended by the Thirteenth Supplemental Indenture (herein so called) dated as of November 17, 2015 among the Partnership,
the Guarantor and U.S. Bank National Association, as successor trustee (the “Trustee”). The Original Indenture, as supplemented and amended from time to time, is herein referred to as the “Indenture.” The terms of the Indenture
are incorporated herein by reference. This Security shall in all respects be entitled to the same benefits as definitive Securities under the Indenture. 

This Security shall not be valid or become obligatory for any purpose until the Trustee’s Certificate of Authentication hereon shall have
been manually signed by the Trustee under the Indenture. 

  
 A-2 

 IN WITNESS WHEREOF, the Partnership has caused this instrument to be duly executed by its sole
General Partner. 
 Dated: November 17, 2015 
  

			
	SUNOCO LOGISTICS PARTNERS OPERATIONS L.P.
		
	By:	 	SUNOCO LOGISTICS PARTNERS GP LLC,
		 	its General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 

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

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 A-3 

 [REVERSE OF SECURITY] 

SUNOCO LOGISTICS PARTNERS OPERATIONS L.P. 

5.95% SENIOR NOTE DUE 2025 

This Security is one of a duly authorized issue of debentures, notes or other evidences of indebtedness of the Partnership (the “Debt
Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to the Indenture, to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Partnership, the Guarantor and the Holders of the Debt Securities. The Debt Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may
mature at different times, may bear interest (if any) at different rates, may be subject to different sinking, purchase or analogous funds (if any) and may otherwise vary as provided in the Indenture. This Security is one of a series designated as
the 5.95% Senior Notes due 2025 of the Partnership, in initial aggregate principal amount of $400,000,000 (the “Securities”). 
  

	1.	Interest. 

 The Partnership promises to pay interest on the principal amount of this
Security at the rate of 5.95% per annum. 
 The Partnership will pay interest semi-annually on June 1 and December 1 of each
year (each an “Interest Payment Date”), commencing June 1, 2016. Interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid on the Securities, from
November 17, 2015. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. The Partnership shall pay interest (including post-petition interest in any proceeding under any applicable bankruptcy laws) on
overdue installments of interest (without regard to any applicable grace period) and on overdue principal and premium, if any, from time to time on demand at the same rate per annum, in each case to the extent lawful. 

 

	2.	Method of Payment. 

 The Partnership shall pay interest on the Securities (except
Defaulted Interest) to the persons who are the registered Holders at the close of business on the Regular Record Date immediately preceding the Interest Payment Date. Any such interest not so punctually paid or duly provided for (“Defaulted
Interest”) may be paid to the persons who are registered Holders at the close of business on a special record date for the payment of such Defaulted Interest, or in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may then be listed if such manner of payment shall be deemed practicable by the Trustee, as more fully provided in the Indenture. The Partnership shall pay principal, premium, if any, and interest in such
coin or currency of the United States of America as at the time of payment shall be legal tender for payment of public and private debts. Payments in respect of a Global Security (including principal, premium, if any, and interest) will be made by
wire transfer of immediately available funds to the accounts specified by the Depositary. Payments in respect of Securities in definitive form (including principal, premium, if any, and 

  
 A-4 

 
interest) will be made at the office or agency of the Partnership maintained for such purpose within The City of New York, which initially will be U.S. Bank National Association, 100 Wall Street,
Suite 1600, New York, New York 10005 Attention: Corporate Trust Department, or, at the option of the Company, payment of interest may be made by check mailed to the Holders on the relevant record date at their addresses set forth in the Debt
Security register of Holders or at the option of the Holder, payment of interest on Securities in definitive form will be made by wire transfer of immediately available funds to any account maintained in the United States, provided such Holder has
requested such method of payment and provided timely wire transfer instructions to the paying agent. The Holder must surrender this Security to a paying agent to collect payment of principal. 

 

	3.	Paying Agent and Registrar. 

 Initially, U.S. Bank National Association will act as
paying agent and Registrar. The Partnership may change any paying agent or Registrar at any time upon notice to the Trustee and the Holders. The Partnership may act as paying agent. 

 

	4.	Indenture. 

 This Security is one of a duly authorized issue of Debt Securities of the
Partnership issued and to be issued in one or more series under the Indenture. 
 Capitalized terms herein are used as defined in the
Indenture unless otherwise defined herein. The terms of the Securities include those stated in the Original Indenture, those made part of the Indenture by reference to the TIA, as in effect on the date of the Original Indenture, and those terms
stated in the Thirteenth Supplemental Indenture. The Securities are subject to all such terms, and Holders of Securities are referred to the Original Indenture, the Thirteenth Supplemental Indenture and the TIA for a statement of them. The
Securities of this series are general unsecured obligations of the Company limited to an initial aggregate principal amount of $400,000,000; provided, however, that the authorized aggregate principal amount of such series may be
increased from time to time as provided in the Thirteenth Supplemental Indenture. 
  

	5.	Optional Redemption. 

 The Securities are redeemable, at the option of the Partnership,
at any time prior to September 1, 2025 (the date that is three months prior to the Stated Maturity) in whole, or from time to time in part, at a redemption price (the “Make-Whole Price”) equal to the greater of: (i) 100% of the
principal amount of the Securities to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest (at the rate in effect on the date of calculation of the redemption price) on the Securities
to be redeemed that would be due if the Securities matured on September 1, 2025 (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the applicable Treasury Rate plus 50 basis points; plus, in either case, accrued and unpaid interest to the Redemption Date. 

  
 A-5 

 The actual Make-Whole Price, calculated as provided above, shall be calculated and certified to
the Trustee and the Partnership by the Independent Investment Banker. For purposes of determining the Make-Whole Price, the following definitions are applicable: 

“Treasury Rate” means the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be calculated on the third business day preceding
the Redemption Date. 
 “Comparable Treasury Issue” means the United States Treasury security selected by the Independent
Investment Banker as having a maturity comparable to the remaining term of the Securities to be redeemed, calculated as if the maturity date of the Securities were September 1, 2025 (the “Remaining Life”) 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 Life of the Securities. 

“Comparable Treasury Price” means with respect to any Redemption Date (1) the average of the Reference Treasury Dealer
Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of
all such quotations. 
 “Independent Investment Banker” means any of U.S. Bancorp Investments, Inc., Mitsubishi UFJ Securities
(USA), Inc. or Mizuho Securities USA Inc. as specified by the Partnership, and any successor firm or, if such firm is unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing
appointed by the Partnership. 
 “Primary Treasury Dealer” means a primary U.S. Government securities dealer in New York City.

 “Reference Treasury Dealer” means a Primary Treasury Dealer selected by each of U.S. Bancorp Investments, Inc., Mitsubishi UFJ
Securities (USA), Inc. or Mizuho Securities USA Inc. or an affiliate or successor of the foregoing, and, at the Partnership’s option, one or more additional Primary Treasury Dealers; provided, however, that if any of the foregoing shall
cease to be a Primary Treasury Dealer, the Partnership will substitute therefor another Primary Treasury Dealer. 
 “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (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. 

Additionally, the Securities are redeemable, at the option of the Partnership, at any time on or after September 1, 2025 (the date that
is three months prior to the Stated Maturity) in whole, or from time to time in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to such Redemption Date. 

  
 A-6 

 Except as set forth above, the Securities will not be redeemable prior to their Stated Maturity
and will not be entitled to the benefit of any sinking fund. 
 Securities called for optional redemption become due on the Redemption Date.
Notices of optional redemption will be mailed at least 30 but not more than 60 days before the Redemption Date to each Holder of the Securities to be redeemed at its registered address. The notice of optional redemption for the Securities will
state, among other things, the amount of Securities to be redeemed, the Redemption Date, the redemption price, the method of calculating such redemption price (if the Make-Whole Price) and the place(s) that payment will be made upon presentation and
surrender of Securities to be redeemed. Unless the Partnership defaults in payment of the redemption price, interest will cease to accrue on the Redemption Date with respect to any Securities that have been called for optional redemption. If less
than all the Securities are redeemed at any time, the Trustee will select the Securities to be redeemed on a pro rata basis, by lot or by any other method the Trustee deems fair and appropriate; provided, however, that if at the time of redemption
such Securities are represented by a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each beneficial owner to be redeemed. 

The Securities may be redeemed in part in minimum principal amounts of $2,000 and integral multiples of $1,000 in excess thereof. Any such
redemption will also comply with Article III of the Indenture. 
  

	6.	Denominations; Transfer; Exchange. 

 The Securities are to be issued in registered form,
without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may register the transfer of, or exchange, Securities in accordance with the Indenture. The Registrar may require a Holder, among other things,
to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. 
  

	7.	Person Deemed Owners. 

 The registered Holder of a Security may be treated as the owner
of it for all purposes. 
  

	8.	Amendment; Supplement; Waiver. 

 Subject to certain exceptions, the Indenture may be
amended or supplemented, and any existing Event of Default or compliance with any provision may be waived, with the consent of the Holders of a majority in principal amount of the Outstanding Debt Securities of each series affected. Without consent
of any Holder of a Security, the parties thereto may amend or supplement the Indenture to, among other things, cure any ambiguity or omission, to correct any defect or inconsistency, or to make any other change that does not adversely affect the
rights of any Holder of a Security. Any such consent or waiver by the Holder of this Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Security and
any Securities which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon this Security or such other Securities. 

  
 A-7 

	9.	Defaults and Remedies. 

 Certain events of bankruptcy or insolvency are Events of Default
that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default
with respect to the Securities occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then Outstanding may declare the principal amount of all the Securities,
together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a
declaration of acceleration has been made, the Holders of a majority in principal amount of the Outstanding Securities, by written notice to the Trustee, may rescind such declaration and annul its consequences if the rescission would not conflict
with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest which has become due solely by such acceleration, shall
have been cured or shall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the
Indenture. The Trustee may require reasonable indemnity or security before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding may direct
the Trustee in its exercise of any trust or power. 
  

	10.	Trustee Dealings with Partnership. 

 The Trustee under the Indenture, in its individual
or any other capacity, may make loans to, accept deposits from, and perform services for the Partnership or its Affiliates or any subsidiary of the Partnership’s Affiliates, and may otherwise deal with the Company or its Affiliates as if it
were not the Trustee. 
  

	11.	Authentication. 

 This Security shall not be valid until the Trustee signs the
certificate of authentication on the other side of this Security. 
  

	12.	Abbreviations and Defined Terms. 

 Customary abbreviations may be used in the name of a
Holder of a Security or an assignee, such as: TEN COM (tenant in common), TEN ENT (tenants by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common), CUST (Custodian), and U/G/M/A (Uniform Gifts to Minors
Act). 
  

	13.	CUSIP Numbers. 

 Pursuant to a recommendation promulgated by the Committee on Uniform
Note Identification Procedures, the Partnership has caused CUSIP numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such number as printed on the Securities and
reliance may be placed only on the other identification numbers printed hereon. 

  
 A-8 

	14.	Absolute Obligation. 

 No reference herein to the Indenture and no provision of this
Security or the Indenture shall alter or impair the obligation of the Partnership, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Security in the manner, at the respective times, at the rate and
in the coin or currency herein prescribed. 
  

	15.	No Recourse. 

 The General Partner and its directors, officers, employees and members, as
such, shall have no liability for any obligations of any Subsidiary Guarantor, the Guarantor or the Partnership under the Securities, the Indenture or any Guarantee or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder by accepting the Securities waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 
  

	16.	Governing Law. 

 This Security shall be construed in accordance with and governed by the
laws of the State of New York. 
  

	17.	Guarantee. 

 The Securities are fully and unconditionally guaranteed on an unsecured,
unsubordinated basis by the Guarantor as set forth in Article XIV of the Indenture, as noted in the Notation of Guarantee affixed to this Security, and under certain circumstances set forth in the Thirteenth Supplemental Indenture one or more
Subsidiaries of the Partnership may be required to join in such Guarantee. 
  

	18.	Reliance. 

 The Holder, by accepting this Security, acknowledges and affirms that
(i) it has purchased the Security in reliance upon the separateness of the Guarantor and the general partner of the Guarantor from each other and from any other Persons, and (ii) the Guarantor and the general partner of Guarantor have
assets and liabilities that are separate from those of each other and of any other Persons. 

  
 A-9 

 NOTATION OF GUARANTEE 

The Guarantor (which term includes any successor Person under the Indenture), has fully, unconditionally and absolutely guaranteed, to the
extent set forth in the Indenture and subject to the provisions in the Indenture, the due and punctual payment of the principal of, and premium, if any, and interest on the Securities and all other amounts due and payable under the Indenture and the
Securities by the Partnership. 
 The obligations of the Guarantor to the Holders of Securities and to the Trustee pursuant to its Guarantee
and the Indenture are expressly set forth in Article XIV of the Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

 

			
	SUNOCO LOGISTICS PARTNERS L.P.
		
	By:	 	SUNOCO PARTNERS LLC,
		 	its General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 A-10 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations: 
 TEN
CO          –        as tenants in common 

TEN ENT        –        as tenants by entireties 

JT TEN            –        as joint
tenants with right of survivorship and not as tenants in common 
  

			
	 UNIF GIFT MIN ACT –
	  	
		
		  	(Cust.)
		
	 Custodian for:
	  	
		
		  	(Minor)
		
	 under Uniform Gifts to Minors Act of
	  	
		
		  	(State)

 Additional abbreviations may also be used though not in the above list. 

  
 A-11 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

 
  
  

Please print or type name, Social Security or other identifying number and address 

including postal zip code of assignee 
  

 
  

the within Security and all rights thereunder, hereby irrevocably constituting and 

appointing 
  

 
  

to transfer said Security on the books of the Partnership, with full power of substitution in 

the premises. 
  

 

							
	  
	 		 		 	  

	Dated	 		 		 	Registered Holder

  

							
	Signature Guarantee:*	 	  
	 		 	

  

	*	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Trustee, which requirements include membership or participation in the Securities Transfer
Association Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Trustee in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended. 

  
 A-12 

 SCHEDULE OF INCREASES OR DECREASES 

IN GLOBAL SECURITY 
 The
following increases or decreases in this Global Security 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 Security
following such
decrease (or
increase)	  	Signature of
authorized officer of
Trustee or
Depositary
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-13 

 Annex A 

FORM OF SUPPLEMENTAL INDENTURE 

This Supplemental Indenture, dated as of
                     (this “Supplemental Indenture”), is among [name of future Subsidiary Guarantor] (the “Additional
Guarantor”), Sunoco Logistics Partners Operations L.P., a Delaware limited partnership (the “Partnership”), Sunoco Logistics Partners L.P., a Delaware limited partnership (the “Guarantor”), each other then existing
Subsidiary Guarantor, if any, under the Indenture referred to below, and U.S. Bank National Association, as Trustee under the Indenture referred to below. 

WITNESSETH: 
 WHEREAS, the
Partnership, the Guarantor, the Subsidiary Guarantors named therein and the Trustee have heretofore executed and delivered an Indenture, dated as of December 16, 2005 (as supplemented and amended by the Thirteenth Supplemental Indenture thereto
dated as of November 17, 2015, the “Indenture”), providing for the issuance of an aggregate principal amount of $400,000,000 of 5.95% Senior Notes due 2025 of the Partnership (the “Securities”); 

WHEREAS, Section 4.14 of the Indenture provides that under certain circumstances the Partnership is required to cause the Additional
Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the Additional Guarantor shall unconditionally guarantee the Securities pursuant to the Guarantee set forth in Section 14.01 of the Indenture on the
terms and conditions set forth herein; and 
 WHEREAS, pursuant to Section 9.01(g) of the Indenture, the Partnership, the Guarantor,
any other then existing Subsidiary Guarantors and the Trustee are authorized to execute and deliver this Supplemental Indenture to amend the Indenture, without the consent of any Holder of the Securities; 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the Additional Guarantor, the Partnership, the Guarantor, [the existing Subsidiary Guarantors] and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01 Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or
recitals hereto are used herein as therein defined. The words “herein,” “hereof’ and “hereby’ and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not
to any particular section hereof. 

  
 Annex-1 

 ARTICLE II 

AGREEMENT TO BE BOUND; GUARANTEE 

Section 2.01 Agreement to be Bound. The Additional Guarantor hereby becomes a party to the Indenture as a Subsidiary Guarantor and
as such will have all of the rights and be subject to all of the obligations and agreements of a Subsidiary Guarantor under the Indenture. 

The Additional Guarantor agrees to be bound by all of the provisions of the Indenture applicable to a Subsidiary Guarantor and to perform all
of the obligations and agreements of a Subsidiary Guarantor under the Indenture. 
 Section 2.02 Guarantee. The Additional
Guarantor hereby fully, unconditionally and absolutely guarantees, jointly and severally with any other Subsidiary Guarantor and the Guarantor, to each Holder of the Securities and the Trustee, the due and punctual payment of the principal of, and
premium, if any, and interest on the Securities and all other amounts due and payable under the Indenture and the Securities by the Partnership, when and as such principal, premium, if any, and interest shall become due and payable, whether at the
Stated Maturity or by declaration of acceleration, call for redemption or otherwise, according to the terms of the Securities and Article XIV of the Indenture. 

ARTICLE III 

MISCELLANEOUS 

Section 3.01 Parties. Nothing expressed or mentioned herein is intended or shall be construed to give any Person, other than the
Holders and the Trustee, any legal or equitable tight, remedy or claim under or in respect of this Supplemental Indenture or the Indenture or any provision herein or therein contained. 

Section 3.02 Governing Law. This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the
State of New York. 
 Section 3.03 Severability Clause. In case any provision in this Supplemental Indenture 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 and such provision shall be ineffective only to the extent of such invalidity, illegality or
unenforceability. 
 Section 3.04 Ratification of Indenture; Supplemental Indenture Part of Indenture. Except as expressly
amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and
every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby. The Trustee makes no representation or warranty as to the validity or sufficiency of this Supplemental Indenture. 

Section 3.05 Counterparts. The parties hereto may sign one or more copies of this Supplemental Indenture in counterparts, all of
which together shall constitute one and the same agreement. 

  
 Annex-2 

 Section 3.06 Headings. The headings of the Articles and the sections in this
Supplemental Indenture are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 

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

 

			
	[ADDITIONAL GUARANTOR]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 SUNOCO LOGISTICS PARTNERS OPERATIONS L.P.

		
	By:	 	SUNOCO LOGISTICS PARTNERS GP LLC,
		 	its General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SUNOCO LOGISTICS PARTNERS L.P.
		
	By:	 	SUNOCO PARTNERS LLC, its General Partner
	By:	 	  

	Name:	 	
	Title:	 	
	
	 [EACH EXISTING SUBSIDIARY GUARANTOR]

		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Annex-3 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Annex-4Net 1 UEPS Technologies, Inc. - Exhibit 4.1 - Filed by newsfilecorp.com

Exhibit 4.1 

	 
	NET 1 UEPS TECHNOLOGIES, INC., 
	Company 
	 
	 
	AND 
	 
	 
	WELLS FARGO BANK, NATIONAL ASSOCIATION, 
	Trustee 
	  
	 
	INDENTURE 
	  _________________
	 
	Dated as
      of                           
    
	 _________________
	 
	Senior Debt Securities 
	 
	 

CROSS-REFERENCE TABLE* 

	Section of 	  
	First Indenture Act 	Section of 
	of 1939, as amended 	Indenture 
	310(a) 	7.09 
	310(b) 	7.08 
	  	7.10 
	310(c) 	Inapplicable 
	311(a) 	713(a) 
	311(b) 	713(b) 
	311(c) 	Inapplicable 
	312(a) 	5.01 
	  	5.02(a) 
	312(b) 	5.02(b) 
	312(c) 	5.02(c) 
	313(a) 	5.04(a) 
	313(b) 	5.04(b) 
	313(c) 	5.04(a) 
	  	5.04(b) 
	313(d) 	5.04(c) 
	314(a) 	5.03 
	314(b) 	Inapplicable 
	314(c) 	Inapplicable 
	314(d) 	Inapplicable 
	314(e) 	Inapplicable 
	314(f) 	Inapplicable 
	315(a) 	7.01(a) 
	  	7.02 
	315(b) 	6.07 
	315(c) 	7.01 
	315(d) 	7.01(b) 
	  	7.01(c) 
	315(e) 	6.07 
	316(a) 	6.06 
	  	8.04 
	316(b) 	6.04 
	316(c) 	8.01 
	317(a) 	6.02 
	317(b) 	4.03 
	318(a) 	13.06 

____________________

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

TABLE OF CONTENTS 

	 	  	Page 
	 	  	  
	 	  	  
	ARTICLE 1
    
DEFINITIONS  
	Section 1.01. 	Definitions of Terms
      	1 
	 	  	  
	ARTICLE 2 
ISSUE,
      DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF
    SECURITIES  
	Section 2.01. 	Designation and Terms of Securities 	6 
	Section 2.02. 	Form of Securities and
      Trustee’s Certificate 	7 
	Section 2.03. 	Denominations; Provision for Payment 	8 
	Section 2.04. 	Execution and
      Authentications 	9 
	Section 2.05. 	Registration of Transfer and Exchange 	10

	Section 2.06. 	Temporary Securities
      	11 
	Section 2.07. 	Mutilated, Destroyed, Lost or Stolen Securities
    	12

	Section 2.08. 	Cancellation 	13 
	Section 2.09. 	Benefits
      of Indenture 	13

	Section 2.10. 	Authenticating Agent
      	13 
	Section 2.11. 	Global
      Securities 	14

	Section 2.12. 	CUSIP Numbers 	14 
	 	  	  
	ARTICLE 3 
REDEMPTION
    OF SECURITIES AND SINKING FUND PROVISIONS  
	Section 3.01. 	Redemption 	15

	Section 3.02. 	Notice of Redemption
      	15 
	Section 3.03. 	Payment
      Upon Redemption 	16

	Section 3.04. 	Sinking Fund 	16 
	Section 3.05. 	Satisfaction of Sinking Fund Payments with
      Securities 	17

	Section 3.06. 	Redemption of Securities
      for Sinking Fund 	17 
	 	  	  
	ARTICLE 4 
CERTAIN
    COVENANTS  
	Section 4.01. 	Payment
      of Principal, Premium and Interest 	17

	Section 4.02. 	Maintenance of Office or
      Agency 	18 
	Section 4.03. 	Paying
      Agents 	18

	Section 4.04. 	Appointment to Fill
      Vacancy in Office of Trustee 	19 
	Section 4.05. 	Compliance with Consolidation Provisions 	19

	Section 4.06. 	Limitation on Liens on
      Stock of Significant Subsidiaries 	19 
	Section 4.07. 	Trustee’s
      Obligations with Respect to the Covenants 	20

	Section 4.08. 	Compliance
      Certificate 	20 

-i- 

TABLE OF CONTENTS 
(continued) 

	 	  	Page 
	 	  	  
	 	  	  
	 ARTICLE
      5 
SECURITYHOLDERS LISTS AND REPORTS BY THE COMPANY AND THE
    TRUSTEE  
	Section
      5.01. 	Company
      to Furnish Trustee Names and Addresses of Securityholders 	20
      
	Section
      5.02. 	Preservation
      of Information; Communications with Securityholders 	20
      
	Section
      5.03. 	Reports
      by the Company 	21
      
	Section
      5.04. 	Reports
      by the Trustee 	21
      
	 	  	  
	 ARTICLE
      6 
REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF
    DEFAULT  
	Section
      6.01. 	Events
      of Default 	22
      
	Section
      6.02. 	Collection
      of Indebtedness and Suits for Enforcement by Trustee 	24
      
	Section
      6.03. 	Application
      of Moneys Collected 	25
      
	Section
      6.04. 	Limitation
      on Suits 	26
      
	Section
      6.05. 	Rights
      and Remedies Cumulative; Delay or Omission not Waiver 	26
      
	Section
      6.06. 	Control
      by Securityholders 	27
      
	Section
      6.07. 	Undertaking
      to Pay Costs 	27
      
	 	  	  
	 ARTICLE
    7 
CONCERNING THE TRUSTEE  
	Section
      7.01. 	Certain
      Duties and Responsibilities of Trustee 	28
      
	Section
      7.02. 	Certain
      Rights of Trustee 	29
      
	Section
      7.03. 	Trustee
      not Responsible for Recitals or Issuance or Securities 	30
      
	Section
      7.04. 	May
      Hold Securities 	31
      
	Section
      7.05. 	Moneys
      Held in Trust 	31
      
	Section
      7.06. 	Compensation
      and Reimbursement 	31
      
	Section
      7.07. 	Reliance
      on Officers’ Certificate or Opinion of Counsel or Both 	32
      
	Section
      7.08. 	Disqualification;
      Conflicting Interests 	32
      
	Section
      7.09. 	Corporate
      Trustee Required, Eligibility 	32
      
	Section
      7.10. 	Resignation
      and Removal; Appointment of Successor 	32
      
	Section
      7.11. 	Acceptance
      of Appointment by Successor 	34
      
	Section
      7.12. 	Merger,
      Conversion, Consolidation or Succession to Business 	35
      
	Section
      7.13. 	Preferential
      Collection of Claims Against the Company 	35
      
	 	  	  
	 ARTICLE
    8 
CONCERNING THE SECURITYHOLDERS  
	Section
      8.01. 	Evidence
      of Action by Securityholders 	35
      
	Section
      8.02. 	Proof
      of Execution by Securityholders 	36
      
	Section
      8.03. 	Who
      May be Deemed Owners 	36
      
	Section
      8.04. 	Certain
      Securities Owned by Company Disregarded 	37
      
	Section
      8.05. 	Actions
      Binding on Future Securityholders 	37
      

-ii- 

TABLE OF CONTENTS 
(continued) 

	 	  	Page 
	 	  	  
	 	  	  
	 ARTICLE
    9 
SUPPLEMENTAL INDENTURES  
	Section
      9.01. 	Supplemental
      Indentures Without the Consent of Securityholders 	37
      
	Section
      9.02. 	Supplemental
      Indentures With Consent of Securityholders 	38
      
	Section
      9.03. 	Effect
      of Supplemental Indentures 	39
      
	Section
      9.04. 	Securities
      Affected by Supplemental Indentures 	39
      
	Section
      9.05. 	Execution
      of Supplemental Indentures 	39
      
	Section
      9.06. 	Conformity
      with Trust Indenture Act 	40
      
	 	  	  
	 ARTICLE
    10 
SUCCESSOR CORPORATION  
	Section
      10.01. 	Company
      May Consolidate, Etc., Only on Certain Terms 	40
      
	Section
      10.02. 	Successor
      Substitute 	40
      
	 	  	  
	 ARTICLE
    11 
DEFEASANCE AND DISCHARGE  
	Section
      11.01. 	Discharge
      of Company’s Obligations 	41
      
	Section
      11.02. 	Legal
      Defeasance 	42
      
	Section
      11.03. 	Covenant
      Defeasance 	42
      
	Section
      11.04. 	Application
      of Trust Money 	43
      
	Section
      11.05. 	Repayment
      to Company 	44
      
	 	  	  
	 ARTICLE
      12 
IMMUNITY OF INCORPORATORS, SHAREHOLDERS, OFFICERS AND
    DIRECTORS  
	Section
      12.01. 	No
      Recourse 	44
      
	 	  	  
	 ARTICLE
    13 
MISCELLANEOUS PROVISIONS  
	Section
      13.01. 	Effect
      on Successors and Assigns 	45
      
	Section
      13.02. 	Actions
      by Successor 	45
      
	Section
      13.03. 	Surrender
      of Company Powers 	45
      
	Section
      13.04. 	Notices
      	45
      
	Section
      13.05. 	Governing
      Law 	45
      
	Section
      13.06. 	Compliance
      Certificates and Opinions 	45
      
	Section
      13.07. 	Payments
      on Business Days 	46
      
	Section
      13.08. 	Conflict
      with Trust Indenture Act 	46
      
	Section
      13.09. 	Counterparts
      	46
      
	Section
      13.10. 	Separability
      	46
      
	Section
      13.11. 	Assignment
      	46
      
	Section
      13.12. 	Waiver
      of Jury Trial 	47
      

-iii- 

TABLE OF CONTENTS 
(continued) 

	 	  	Page 
	 	  	  
	 	  	  
	Section 13.13. 	Force
      Majeure 	47

	Section 13.14. 	USA Patriot Act
    	47 

-iv- 

      
     INDENTURE, dated as
of        , between NET 1 UEPS TECHNOLOGIES,
INC., a Florida corporation (the “Company”), and WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, as trustee (the “Trustee”): 

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

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

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

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

ARTICLE 1 
DEFINITIONS 

            Section
1.01. Definitions of Terms. 

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

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

            “Authorized
Newspaper” means a newspaper in the English language or in an official language
of the country of publication, customarily printed on each Business Day, whether
or not published on Saturdays, Sundays or holidays, and of general circulation
in the place in connection with which the term is used or in the financial
community of such place. If, because of temporary suspension of publication or
general circulation of any newspaper or for any other reason, it is impossible
or impracticable to make any publication of any notice required by this
Indenture in the manner herein provided, such publication or other notice in
lieu thereof which is made by the Company shall constitute a sufficient
publication of such notice. 

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

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

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

            “Business
Day” means, with respect to any series of Securities, any day other than a day
on which Federal or State banking institutions in the Borough of Manhattan, The
City of New York, are authorized or obligated by law, executive order or
regulation to close. 

            “Commission”
means the United States Securities and Exchange Commission and any successor
thereto. 

            “Company”
means Net 1 UEPS Technologies, Inc., a corporation duly organized and existing
under the laws of the State of Florida, and, subject to the provisions of
Article 10, shall also include its successors and assigns. 

            “Company
Order” has the meaning assigned to such term in Section 2.04. 

            “Corporate
Trust Office” means the office of the Trustee at which, at any particular time,
its corporate trust business shall be principally administered, which office is
located at 150 East 42nd Street, 40th Floor, New York, New
York 10017 Attn: Corporate Trust Services Administrator for Net 1 UEPS
Technologies, Inc., or such other address as the Trustee may designate from time
to time by notice to the Securityholders and the Company, or the principal
corporate trust office of any successor Trustee (or such other address as such
successor Trustee may designate from time to time by notice to the
Securityholders and the Company). 

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

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

            “Defaulted
Interest” has the meaning assigned to such term in Section 2.03. “Depositary”
means, with respect to Securities of any series, for which the Company shall
determine that such Securities will be issued as a Global Security, The
Depository Trust Company, New York, New York, another clearing agency, or any
successor registered as a clearing agency under the Exchange Act or other
applicable statute or regulation, which, in each case, shall be designated by
the Company pursuant to either Section 2.01 or Section 2.11. 

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

2 

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

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

            “Governmental
Obligations” means securities that are (i) direct obligations of the United
States of America for the payment of which its full faith and credit is pledged
or (ii) obligations of a Person controlled or supervised by and acting as an
agency or instrumentality of the United States of America, the payment of which
is unconditionally guaranteed as a full faith and credit obligation by the
United States of America that, in either case, are not callable or redeemable at
the option of the issuer thereof, and shall also include a depositary receipt
issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as
custodian with respect to any such Governmental Obligation or a specific payment
of principal of or interest on any such Governmental Obligation held by such
custodian for the account of the holder of such depositary receipt;
provided, however, that (except as required by law) such custodian
is not authorized to make any deduction from any amount payable to the holder of
such depositary receipt, or from any amount received by the custodian in respect
of the Governmental Obligation, or from any specific payment of principal of or
interest on the Governmental Obligation evidenced by such depositary receipt.

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

            “Indebtedness”
of any person means the principal of (and premium, if any) and interest due on
indebtedness of such Person, whether outstanding on the date of this Indenture
or thereafter created, incurred or assumed, which is (a) indebtedness for money
borrowed, and (b) any amendments, renewals, extensions, modifications and
refundings of any such indebtedness. For the purposes of this definition,
“indebtedness for money borrowed” means (i) any obligation of, or any obligation
guaranteed by, such Person for the repayment of borrowed money, whether or not
evidenced by bonds, debentures, notes or other written instruments, (ii) any
obligation of, or any such obligation guaranteed by, such Person evidenced by
bonds, debentures, notes or similar written instruments, including obligations
assumed or incurred in connection with the acquisition of property, assets or
businesses (provided, however, that the deferred purchase price of
any business or property or assets shall not be considered Indebtedness if the
purchase price thereof is payable in full within 90 days from the date on which
such indebtedness was created), and (iii) any obligations of such Person as
lessee under leases required to be capitalized on the balance sheet of the
lessee under generally accepted accounting principles and leases of property or
assets made as part of any sale and lease-back transaction to which such Person
is a party. For purposes of the covenant under Section 4.06 of this Indenture
only, Indebtedness also includes any obligation of, or any obligation guaranteed
by, any Person for the payment of amounts due under a swap agreement or similar
instrument or agreement, or under a foreign currency hedge or similar instrument
or agreement. 

3 

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

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

            “Officers’
Certificate” means a certificate, signed by any two of the Chief Executive
Officer, Chief Financial Officer, the Treasurer and an Assistant Treasurer of
the Company, provided that at least one such officer is the Chief
Financial Officer or the Treasurer of the Company, that is delivered to the
Trustee in accordance with the terms hereof. Each such certificate shall include
the statements provided for in Section 13.06, if and to the extent required by
the provisions thereof. 

            “Opinion
of Counsel” means an opinion in writing of legal counsel, who may be an employee
of or counsel for the Company, that is delivered to the Trustee in accordance
with the terms hereof. Each such opinion shall include the statements provided
for in Section 13.06, if and to the extent required by the provisions thereof.

            “Outstanding”,
when used with reference to Securities of any series, means, subject to the
provisions of Section 8.04, as of any particular time, all Securities of that
series theretofore authenticated and delivered by the Trustee under this
Indenture, except: (a) Securities theretofore canceled by the Trustee or any
paying agent, or delivered to the Trustee or any paying agent for cancellation
or that have previously been canceled; (b) Securities or portions thereof for
the payment or redemption of which moneys or Governmental Obligations in the
necessary amount shall have been deposited in trust with the Trustee or with any
paying agent (other than the Company) or shall have been set aside and
segregated in trust by the Company (if the Company shall act as its own paying
agent), provided, however, that if such Securities or portions of
such Securities are to be redeemed prior to the maturity thereof, notice of such
redemption shall have been given as specified in Article 3 or provision
satisfactory to the Trustee shall have been made for giving such notice; and (c)
Securities in lieu of or in substitution for which other Securities shall have
been authenticated and delivered, or securities which shall have been paid,
pursuant to the terms of Section 2.07. 

            “Person”
means any individual, corporation, partnership, joint-venture, joint-stock
company, limited liability company or other unincorporated organization or
government or any agency or political subdivision thereof. 

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

4 

            “Responsible
Officer” when used with respect to the Trustee means any vice president, any
assistant vice president, any trust officer or assistant trust officer or any
other officer of the Trustee customarily performing functions similar to those
performed by any of the above designated officers and also means, with respect
to a particular corporate trust matter, any other officer to whom any corporate
trust matter is referred because of his or her knowledge of and familiarity with
the particular subject and who shall have direct responsibility for the
administration of this Indenture. 

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

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

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

            “Security
Register” has the meaning assigned to such term in Section 2.05(b) .

             “Security
  Registrar” has the meaning assigned to such term in Section 2.05(b) . 

            “Significant
Subsidiary” means [   ]. 

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

            “Trustee”
means Wells Fargo Bank, National Association, and, subject to the provisions of
Article 7, shall also include its successors and assigns, and, if at any time
there is more than one Person acting in such capacity hereunder, “Trustee” shall
mean each such Person. The term “Trustee” as used with respect to a particular
series of the Securities shall mean the trustee with respect to that series.

            “Trust
Indenture Act” means the Trust Indenture Act of 1939, as amended, subject to the
provisions of Section 9.01 and Section 9.02, as in effect at the date of
execution of this instrument. 

            “UCC”
means the Uniform Commercial Code, as in effect in each applicable jurisdiction.

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

5 

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

            Section
2.01. Designation and Terms of Securities. 

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

            (a)       
the title of the Security of the series and any applicable CUSIP and/or ISIN
numbers (which shall distinguish the Securities of the series from all other
Securities); 

            (b)       
any limit upon the aggregate principal amount of the Securities of that series
that may be authenticated and delivered under this Indenture (except for
Securities authenticated and delivered upon registration of transfer of, or in
exchange for, or in lieu of, other Securities of that series); 

            (c)       
the date or dates on which the principal of the Securities of the series is
payable; 

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

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

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

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

            (h)       
the obligation, if any, of the Company to redeem or purchase Securities of the
series pursuant to any sinking fund or analogous provisions (including payments
made in cash in participation of future sinking fund obligations) or at the
option of a holder thereof and the period or periods within which, the price or
prices at which, and the terms and conditions upon which, Securities of the
series shall be redeemed or purchased, in whole or in part, pursuant to such
obligation; 

6 

            (i)       
the form of the Securities of the series including the form of the certificate
of authentication for such series; 

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

            (k)       
any and all other terms with respect to such series (which terms shall not be
inconsistent with the terms of this Indenture) including any terms which may be
required by or advisable under United States laws or regulations or advisable in
connection with the marketing of Securities of that series; 

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

            (m)       
whether the Securities will be convertible into shares of common stock or other
securities of the Company and, if so, the terms and conditions upon which such
Securities will be so convertible, including the conversion price and the
conversion period; 

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

            (o)       
any additional or different Events of Default or restrictive covenants provided
for with respect to the Securities of the series; 

            (p)       
any provisions granting special rights to Securityholders when a specified event
occurs; and 

            (q)       
any special tax implications of the Securities of the series, including
provisions for an original issue discount, if offered. 

            All
Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to any such
Board Resolution or in any indentures supplemental hereto. 

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

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

            Section
2.02. Form of Securities and Trustee’s Certificate. 

7 

           
The Securities of any series and the Trustee’s certificate of authentication to
be borne by such Securities shall be substantially of the tenor and purport as
set forth in one or more indentures supplemental hereto or as provided by or
pursuant to a Board Resolution and set forth in an Officers’ Certificate, and
may have such letters, numbers or other marks of identification or designation
and such legends or endorsements printed, lithographed or engraved thereon as
the Company may deem appropriate and as are not inconsistent with the provisions
of this Indenture, or as may be required to comply with any law or with any rule
or regulation made pursuant thereto or with any rule or regulation of any stock
exchange on which Securities of that series may be listed, or to conform to
usage. 

            Section
2.03. Denominations; Provision for Payment. 

            The
Securities shall be issuable as registered Securities without coupons and in the
denominations of one thousand U.S. dollars ($1,000) or any integral multiple
thereof, subject to Section 2.01(j) . The Securities of a particular series
shall bear interest payable on the dates and at the rate or rates specified with
respect to that series. The principal of and the interest on the Securities of
any series, as well as any premium thereon in case of redemption thereof prior
to maturity, shall be payable in the coin or currency of the United States of
America that at the time is legal tender for public and private debt, at the
office or agency of the Company maintained for that purpose in the Borough of
Manhattan, the City and State of New York. Each Security shall be dated the date
of its authentication. Interest on the Securities shall be computed on the basis
of a 360-day year composed of twelve 30-day months. 

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

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

           
(a)        The Company may make payment of
any Defaulted Interest on Securities to the Persons in whose names such
Securities (or their respective Predecessor Securities) are registered at the
close of business on a special record date for the payment of such Defaulted
Interest, which shall be fixed in the following manner: the Company shall notify
the Trustee in writing of the amount of Defaulted Interest proposed to be paid
on each such Security and the date of the proposed payment, and at the same time
the Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest or
shall make arrangements satisfactory to the Trustee for such deposit prior to
the date of the proposed payment, such money when deposited to be held in trust
for the benefit of the Persons entitled to such Defaulted Interest as in this
clause provided. Thereupon the Trustee shall fix a special record date for the
payment of such Defaulted Interest which shall not be more than 15 nor less than
10 days prior to the date of the proposed payment and not less than 10 days
after the receipt by the Trustee of the notice of the proposed payment. The
Trustee shall promptly notify the Company of such special record date and, in
the name and at the expense of the Company, shall cause notice of the proposed
payment of such Defaulted Interest and the special record date therefor to be
mailed, first class postage prepaid, to each Securityholder at his or her
address as it appears in the Security Register (as hereinafter defined), not
less than 10 days prior to such special record date (or otherwise transmitted in
accordance with the procedure of the Depositary). Following such transmission of
notice of the proposed payment of such Defaulted Interest and the special record
date, such Defaulted Interest shall be paid to the Persons in whose names such
Securities (or their respective Predecessor Securities) are registered on such
special record date and shall be no longer payable pursuant to the following
clause (b). 

8 

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

            Unless
otherwise set forth in or pursuant to a Board Resolution or one or more
indentures supplemental hereto establishing the terms of any series of
Securities pursuant to Section 2.01 hereof, the term “regular record date” as
used in this Section with respect to a series of Securities with respect to any
Interest Payment Date for such series shall mean either the fifteenth day of the
month immediately preceding the month in which an Interest Payment Date
established for such series pursuant to Section 2.01 hereof shall occur, if such
Interest Payment Date is the first day of a month, or the first day of the month
in which an Interest Payment Date established for such series pursuant to
Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth
day of such month, whether or not such date is a Business Day. 

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

            Section
2.04. Execution and Authentications. 

            The
Securities shall be signed on behalf of the Company by any two of its officers
among the Chief Executive Officer, Chief Financial Officer, the Treasurer and an
Assistant Treasurer, provided that at least one such officer is the Chief
Financial Officer or the Treasurer and attested by its Secretary or one of its
Assistant Secretaries. Signatures may be in the form of a manual or facsimile
signature. The Company may use the facsimile signature of any Person who shall
have been a Chief Executive Officer, Chief Financial Officer, Treasurer or
Assistant Treasurer thereof, or of any Person who shall have been a Secretary or
Assistant Secretary thereof, notwithstanding the fact that at the time the
Securities shall be authenticated and delivered or disposed of such Person shall
have ceased to be the Chief Executive Officer, Chief Financial Officer, Treasurer or Assistant Treasurer, or the Secretary or
an Assistant Secretary, of the Company. The Securities may contain such
notations, legends or endorsements as are required by law, stock exchange rule
or usage. Each Security shall be dated the date of its authentication by the
Trustee. 

9 

            A
Security shall not be valid until authenticated manually by an authorized
signatory of the Trustee, or by an Authenticating Agent. Such signature shall be
conclusive evidence that the Security so authenticated has been duly
authenticated and delivered hereunder and that the holder of such Security is
entitled to the benefits of this Indenture. 

            At
any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, together with a written order of the
Company for the authentication and delivery of such Securities, signed by its
Chief Executive Officer, Chief Financial Officer, Treasurer or any Assistant
Treasurer and its Secretary or any Assistant Secretary (“Company Order”), and
the Trustee in accordance with such Company Order shall authenticate and deliver
such Securities. 

            In
authenticating such Securities and accepting the additional responsibilities
under this Indenture in relation to such Securities, the Trustee shall be
entitled to receive, and (subject to Section 7.01) shall be fully protected in
relying upon (A) an Officers’ Certificate or executed supplemental indenture
setting forth the form and terms of the Securities as required pursuant to
Section 2.01, (B) an Opinion of Counsel stating (1) that the form and terms
thereof have been established in conformity with the provisions of this
Indenture, (2) that such Securities, when authenticated and delivered by the
Trustee and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will be valid and binding obligations of
the Company entitled to the benefits of this Indenture, and enforceable against
the Company in accordance with their terms, except to the extent that
enforcement thereof may be limited by (a) bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance or similar laws now or
hereafter in effect relating to creditors’ rights generally, (b) general
principles of equity (regardless of whether enforceability is considered in a
proceeding in equity or at law) and (c) that all conditions precedent to the
authentication of the Securities have been met, (C) an Officers’ Certificate
delivered pursuant to Section 13.06. 

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

            Section
2.05. Registration of Transfer and Exchange. 

            (a)       
Securities of any series may be exchanged upon presentation thereof at the
office or agency of the Company designated for such purpose in the Borough of
Manhattan, the City and State of New York, for other Securities of such series
of authorized denominations, and for a like aggregate principal amount, upon
payment of a sum sufficient to cover any tax or other governmental charge in
relation thereto, all as provided in this Section. In respect of any Securities
so surrendered for exchange, the Company shall execute, the Trustee shall
authenticate and such office or agency shall deliver in exchange therefor the
Security or Securities of the same series that the Securityholder making the exchange shall
be entitled to receive, bearing numbers not contemporaneously outstanding. 

10 

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

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

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

            (c)       
No service charge shall be made for any exchange or registration of transfer of
Securities, or issue of new Securities in case of partial redemption of any
series, but the Company may require payment of a sum sufficient to cover any tax
or other governmental charge in relation thereto, other than exchanges pursuant
to Section 2.06, Section 3.03(b) and Section 9.04 not involving any transfer.

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

            Section
2.06. Temporary Securities. 

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

11 

            Section
2.07. Mutilated, Destroyed, Lost or Stolen Securities. 

            In
case any temporary or definitive Security shall become mutilated or be
destroyed, lost or stolen, the Company (subject to the next succeeding sentence)
shall execute, and upon the Company’s delivery of a Company Order the Trustee
(subject as aforesaid) shall authenticate and deliver, a new Security of the
same series, bearing a number not contemporaneously outstanding, in exchange and
substitution for the mutilated Security, or in lieu of and in substitution for
the Security so destroyed, lost or stolen. In every case the applicant for a
substituted Security shall furnish to the Company and the Trustee such security
or indemnity as required by them to save each of them harmless, and, in every
case of destruction, loss or theft, the applicant shall also furnish to the
Company and the Trustee evidence to their satisfaction of the destruction, loss
or theft of the applicant’s Security and of the ownership thereof. The Trustee
may authenticate any such substituted Security and deliver the same upon receipt
of a Company Order. Upon the issuance of any substituted Security, the Company
may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other
expenses (including the fees and expenses of the Trustee and its counsel)
connected therewith. In case any Security that has matured or is about to mature
shall become mutilated or be destroyed, lost or stolen, the Company may, instead
of issuing a substitute Security, pay or authorize the payment of the same
(without surrender thereof except in the case of a mutilated Security) if the
applicant for such payment shall furnish to the Company and the Trustee such
security or indemnity as they require to save them harmless, and, in case of
destruction, loss or theft, evidence to the satisfaction of the Company and the
Trustee of the destruction, loss or theft of such Security and of the ownership
thereof. 

            Every
replacement Security issued pursuant to the provisions of this Section shall
constitute an additional contractual obligation of the Company whether or not
the mutilated, destroyed, lost or stolen Security shall be found at any time, or
be enforceable by anyone, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities of the
same series duly issued hereunder. All Securities shall be held and owned upon
the express condition that the foregoing provisions are exclusive with respect
to the replacement or payment of mutilated, destroyed, lost or stolen Securities
and shall preclude (to the extent lawful) any and all other rights or remedies,
notwithstanding any law or statute existing or hereafter enacted to the contrary
with respect to the replacement or payment of negotiable instruments or other
securities without their surrender. 

12 

            Section
2.08. Cancellation. 

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

            Section
2.09. Benefits of Indenture. 

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

            Section
2.10. Authenticating Agent. 

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

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

13 

            Section
2.11. Global Securities. 

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

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

            (c)       
If at any time the Depositary for a series of the Securities notifies the
Company that it is unwilling or unable to continue as Depositary for such series
or if at any time the Depositary for such series shall no longer be registered
or in good standing under the Exchange Act or other applicable statute or
regulation, and a successor Depositary for such series is not appointed by the
Company within 90 days after the Company receives such notice or becomes aware
of such condition, as the case may be, this Section 2.11 shall no longer be
applicable to the Securities of such series and the Company will execute, and
subject to Section 2.05, the Trustee will authenticate and deliver the
Securities of such series in definitive registered form without coupons, in
authorized denominations, and in an aggregate principal amount equal to the
principal amount of the Global Security of such series in exchange for such
Global Security. In addition, the Company may at any time determine that the
Securities of any series shall no longer be represented by a Global Security and
that the provisions of this Section 2.11 shall no longer apply to the Securities
of such series. In such event the Company will execute and, subject to Sections
2.05 and 13.06, the Trustee, upon receipt of an Officers’ Certificate evidencing
such determination by the Company, will authenticate and deliver the Securities
of such series in definitive registered form without coupons, in authorized
denominations, and in an aggregate principal amount equal to the principal
amount of the Global Security of such series in exchange for such Global
Security. Upon the exchange of the Global Security for such Securities in
definitive registered form without coupons, in authorized denominations, the
Global Security shall be canceled by the Trustee. Such Securities in definitive
registered form issued in exchange for the Global Security pursuant to this
Section 2.11(c) shall be registered in such names and in such authorized
denominations as the Depositary, pursuant to instructions from its direct or
indirect participants or otherwise, shall instruct the Trustee. The Trustee
shall deliver such Securities to the Depositary for delivery to the Persons in
whose names such Securities are so registered. 

           
Section 2.12. CUSIP Numbers. 

14 

            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 Securityholders; 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. 

ARTICLE 3 
REDEMPTION OF SECURITIES AND SINKING FUND
PROVISIONS 

            Section
3.01. Redemption. 

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

            Section
3.02. Notice of Redemption. 

            (a)       
In case the Company shall desire to exercise such right to redeem all or, as the
case may be, a portion of the Securities of any series in accordance with the
right reserved so to do, the Company shall, or shall cause the Trustee to, give
notice of such redemption to holders of the Securities of such series to be
redeemed by mailing, first class postage prepaid, (or otherwise transmitted in
accordance with the procedure of the Depositary) a notice of such redemption not
less than 30 days and not more than 60 days before the date fixed for redemption
of that series to such holders at their last addresses as they shall appear upon
the Security Register unless a shorter period is specified in the Securities to
be redeemed. Any notice that is transmitted in the manner herein provided shall
be conclusively presumed to have been duly given, whether or not the registered
holder receives the notice. In any case, failure duly to give such notice to the
holder of any Security of any series designated for redemption in whole or in
part, or any defect in the notice, shall not affect the validity of the
proceedings for the redemption of any other Securities of such series or any
other series. In the case of any redemption of Securities subject to the
expiration of any restriction on such redemption provided in the terms of such
Securities or elsewhere in this Indenture, the Company shall furnish the Trustee
with an Officers’ Certificate evidencing compliance with any such restriction.

           
Each such notice of redemption shall specify the series of Securities being
redeemed, the CUSIP and/or ISIN numbers of the Securities being redeemed, the
date fixed for redemption and the redemption price at which Securities of that
series are to be redeemed, and shall state that payment of the redemption price
of such Securities to be redeemed will be made at the office or agency of the
Company in the Borough of Manhattan, the City and State of New York, upon
presentation and surrender of such Securities, that interest accrued to the date
fixed for redemption will be paid as specified in said notice, that from and
after such date interest will cease to accrue and that the redemption is for a
sinking fund, if such is the case. If less than all the Securities of a series
are to be redeemed, the notice to the holders of Securities of that series to be
redeemed in whole or in part shall specify the particular Securities to be so
redeemed. In case any Security is to be redeemed in part only, the notice
that relates to such Security shall state the portion of the principal amount
thereof to be redeemed, and shall state that on and after the redemption date,
upon surrender of such Security, a new Security or Securities of such series in
principal amount equal to the unredeemed portion thereof will be issued. 

15 

            (b)       
If the Trustee is to provide notice to the holders of Securities in accordance
with clause (a) above, for a partial or full redemption, the Company shall give
the Trustee the notice to be delivered to Securityholders at least 45 days
notice in advance of the date fixed for redemption as to the aggregate principal
amount of Securities of the series to be redeemed, and thereupon, in the case of
a partial redemption, the Trustee shall select, by lot or in such other manner
as it shall deem appropriate and fair (in accordance with the procedures of the
Depositary) and that may provide for the selection of a portion or portions
(equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof)
of the principal amount of such Securities of a denomination larger than $1,000,
the Securities to be redeemed and shall thereafter promptly notify the Company
in writing of the numbers of the Securities to be redeemed, in whole or in part.

            The
Company may, if and whenever it shall so elect, by delivery of instructions
signed on its behalf by its Chief Executive Officer, Chief Financial Officer,
Treasurer or an Assistant Treasurer, instruct the Trustee or any paying agent to
call all or any part of the Securities of a particular series for redemption and
to give notice of redemption in the manner set forth in this Section, such
notice to be in the name of the Company. 

            Section
3.03. Payment Upon Redemption. 

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

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

            Section
3.04. Sinking Fund. 

16 

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

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

            Section
3.05. Satisfaction of Sinking Fund Payments with Securities. 

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

            Section
3.06. Redemption of Securities for Sinking Fund. 

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

ARTICLE 4 
CERTAIN COVENANTS 

            Section
4.01. Payment of Principal, Premium and Interest. 

            The
Company will duly and punctually pay or cause to be paid the principal of (and
premium, if any) and interest on the Securities of that series on or prior to
11:00 a.m., New York City time, on such the date of such payment at the place
and in the manner provided herein and established with respect to such
Securities.

17 

           
Section 4.02. Maintenance of Office or Agency. 

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

           
Section 4.03. Paying Agents. 

            (a)       
If the Company shall appoint one or more paying agents for all or any series of
the Securities, other than the Trustee, the Company will cause each such paying
agent to execute and deliver to the Trustee an instrument in which such agent
shall agree with the Trustee, subject to the provisions of this Section: 

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

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

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

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

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

18 

            (c)       
Notwithstanding anything in this Section to the contrary, (i) the agreement to
hold sums in trust as provided in this Section is subject to the provisions of
Section 11.05, and (ii) the Company may at any time, for the purpose of
obtaining the satisfaction and discharge of this Indenture or for any other
purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in
trust by the Company or such paying agent, such sums to be held by the Trustee
in accordance with Section 11.04 and upon the same terms and conditions as those
upon which such sums were held by the Company or such paying agent; and, upon
such payment by any paying agent to the Trustee, such paying agent shall be
released from all further liability with respect to such money. 

            Section
4.04. Appointment to Fill Vacancy in Office of Trustee. 

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

            Section
4.05. Compliance with Consolidation Provisions. 

            The
Company will not, while any of the Securities remain Outstanding, consolidate
with, or merge into, or merge into itself, or sell or convey all or
substantially all of its property to any other company unless the provisions of
Article 10 hereof are complied with. 

            Section
4.06. Limitation on Liens on Stock of Significant Subsidiaries. 

            The
Company will not, and it will not permit any Subsidiary of the Company to, at
any time directly or indirectly create, assume, incur or permit to exist any
Indebtedness secured by a pledge, lien or other encumbrance (any pledge, lien or
other encumbrance being hereinafter in this Section referred to as a “lien”) on
the Voting Stock of a Significant Subsidiary without making effective provision
whereby the Securities then Outstanding (and, if the Company so elects, any
other Indebtedness of the Company that is not subordinate to the Securities and
with respect to which the governing instruments require, or pursuant to which
the Company is otherwise obligated or required, to provide such security) shall
be equally and ratably secured with such secured Indebtedness so long as such
other Indebtedness shall be so secured. 

            If
the Company shall hereafter be required to secure the Securities equally and
ratably with any other Indebtedness pursuant to this Section, (i) the Company
will promptly deliver to the Trustee an Officers’ Certificate stating that the
foregoing covenant has been complied with, and an Opinion of Counsel stating
that in the opinion of such counsel the foregoing covenant has been complied
with and (ii) the Trustee is hereby authorized to enter into an indenture or
agreement supplemental hereto and to take such action, if any,
as it may deem advisable to enable it to enforce the rights of the holders of
the Securities so secured. 

19 

            Section
4.07. Trustee’s Obligations with Respect to the Covenants. 

            The
Trustee shall not be obligated to monitor or confirm, on a continuing basis or
otherwise, the Company’s compliance with the covenants contained in this Article
4 or with respect to reports or other documents filed under the Indenture
(unless otherwise required hereunder). 

            Section
4.08. Compliance Certificate. 

            The
Company shall deliver to the Trustee within 120 days after the end of each of
the Company’s fiscal years, commencing ________, 201__, a certificate executed
by its principal executive officer, principal financial officer or principal
accounting officer, stating as to his or her knowledge the Company’s compliance
(without regard to periods of grace or notice requirements) with all conditions
and covenants under this Indenture, and if the Company shall not be in
compliance, specifying such non- compliance and the nature and status thereof of
which such officer may have knowledge. Promptly upon learning of a Default, the
Company shall provide notice thereof to the Trustee. 

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

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

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

            Section
5.02. Preservation of Information; Communications with Securityholders.

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

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

20 

            (c)       
Securityholders may communicate as provided in Section 312(b) of the Trust
Indenture Act with other Securityholders with respect to their rights under this
Indenture or under the Securities. 

            Section
5.03. Reports by the Company. 

            (a)       
The Company covenants and agrees to 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) that the Company may be required to file with
the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or,
if the Company is not required to file information, documents or reports
pursuant to either of such sections, then to file with the Trustee and the
Commission, in accordance with the rules and regulations prescribed from time to
time by the Commission, such of the supplementary and periodic information,
documents and reports that may be required pursuant to Section 13 of the
Exchange Act, in respect of a security listed and registered on a national
securities exchange as maybe prescribed from time to time in such rules and
regulations. 

            (b)       
The Company covenants and agrees to file with the Trustee and the Commission, in
accordance with the 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 provided for in this
Indenture as may be required from time to time by such rules and regulations.

            (c)       
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). 

            (d)       
The Company covenants and agrees to transmit in accordance with the procedures
of the Depositary or by mail, first class postage prepaid, or reputable
over-night delivery service that provides for evidence of receipt, to the
Securityholders, as their names and addresses appear upon the Security Register,
within 30 days after the filing thereof with the Trustee, such summaries of any
information, documents and reports required to be filed by the Company pursuant
to subsections (a) and (b) of this Section as may be required by rules and
regulations prescribed from time to time by the Commission. 

            Section
5.04. Reports by the Trustee. 

            (a)       
On or before May 15 in each year in which any of the Securities are Outstanding,
the Trustee shall transmit in accordance with the procedures of the Depositary
or by mail, first class postage prepaid, to the Securityholders, as their names
and addresses appear upon the Security Register, a brief report dated as of the
preceding May 15, if and to the extent required under Section 313(a) of the
Trust Indenture Act. 

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

21 

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

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

            Section
6.01. Events of Default. 

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

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

           
(ii)         the Company defaults in the
payment of the principal of (or premium, if any, on) any of the Securities of
that series as and when the same shall become due and payable whether at
maturity, upon redemption, by declaration or otherwise, or in any payment
required by any sinking or analogous fund established with respect to that
series; provided, however, that a valid extension of the maturity
of such Securities in accordance with the terms of any indenture supplemental
hereto shall not constitute a default in the payment of principal or premium, if
any; 

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

           
(iv)        the Company pursuant to or within
the meaning of any Bankruptcy Law (A) commences a voluntary case, (B) consents
to the entry of an order for relief against it in an involuntary case, (C)
consents to the appointment of a Custodian of it or for all or substantially all
of its property or (D) makes a general assignment for the benefit of its
creditors; 

           
(v)          a court of competent
jurisdiction enters an order under any Bankruptcy Law that (A) is for relief
against the Company in an involuntary case, (B) appoints a Custodian of the Company for all or
substantially all of their respective property, or (C) orders the liquidation of
the Company, and the order or decree remains unstayed and in effect for 90 days;
or 

22 

           
(vi)        any other Event of Default
provided for with respect to the Securities of such series in accordance with
Section 2.01. 

            (b)       
If an Event of Default described in clauses (a)(i) or (a)(ii) of this Section
6.01 with respect to the Securities of any series then Outstanding hereunder
occurs and is continuing, then, unless the principal of the Securities of such
series shall have already become due and payable, either the Trustee or the
holders of not less than 25% in aggregate principal amount of the Securities of
such series then Outstanding, by notice in writing to the Company (and to the
Trustee if given by such Securityholders), may declare the principal of all the
Securities of such series and interest accrued thereon, if any, to be due and
payable immediately, and upon any such declaration the same shall become and
shall be immediately due and payable, notwithstanding anything contained in this
Indenture or in the Securities of such series or established with respect to
such series pursuant to Section 2.01 to the contrary. If an Event of Default
described in clauses (a)(iv) or (a)(v) of this Section 6.01 occurs and is
continuing, or if an Event of Default described in clauses (a)(iii) or (a)(vi)
of this Section 6.01 with respect to Securities of one or more series then
Outstanding hereunder occurs and is continuing, then, except with respect to any
such affected series for which the principal of all the Securities thereof shall
have already become due and payable, either the Trustee or the holders of not
less than 25% in aggregate principal amount of the Securities of all affected
series then Outstanding (all such series voting together as a single class), by
notice in writing to the Company (and to the Trustee if given by such
Securityholders), may declare the principal of all the Securities then
Outstanding of such series and interest accrued thereon, if any, to be due and
payable immediately, and upon such declaration the same shall become immediately
due and payable. 

            (c)       
At any time after the principal of the Securities of any series shall have been
declared due and payable as provided in Section 6.01(b), and before any judgment
or decree for the payment of the moneys due shall have been obtained or entered
as hereinafter provided, the holders of a majority in aggregate principal amount
of the Securities of such series then Outstanding (in the case of an Event of
Default described in clauses (a)(i) or (a)(ii) of this Section 6.01, each such
affected series voting as a separate class, and in the case of an Event of
Default described in clauses (a)(iii), (a)(iv), (a)(v) or (a)(vi) of this
Section 6.01, all such affected series voting together as a single class), 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 all matured installments of interest upon
all the Securities of such series and the principal of (and premium, if any, on)
any and all Securities of such series that shall have become due otherwise than
by acceleration (with interest upon such principal and premium, if any, and, to
the extent that such payment is enforceable under applicable law, upon overdue
installments of interest, applied to the Securities of each such series at the
rate per annum expressed in the Securities of each such series, respectively, to
the date of such payment or deposit) and the amount payable to the Trustee under
Section 7.06, and (2) any and all Events of Default under the Indenture with
respect to such series, other than the nonpayment of principal on Securities of
that series that shall not have become due by their terms, shall have been
remedied or waived as provided in Section 6.06. 

23 

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

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

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

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

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

            (c)       
In case of any receivership, insolvency, liquidation, bankruptcy,
reorganization, readjustment, arrangement, composition or judicial proceedings
affecting the Company, or its creditors or property, the Trustee shall have
power to intervene in such proceedings and take any action therein that may be
permitted by the court and shall (except as may be otherwise provided by law) be
entitled to file such proofs of claim and other papers and documents as may be
necessary or advisable in order to have the claims of the Trustee and of the
holders of Securities of such series allowed for the entire amount due and
payable by the Company under the Indenture at the date of institution of such
proceedings and for any additional amount that may become due and payable by the
Company after such date, and to collect and receive any moneys or other property payable or deliverable on any such claim, and
to distribute the same after the deduction of the amount payable to the Trustee
under Section 7.06; and any receiver, assignee or trustee in bankruptcy or
reorganization is hereby authorized by each of the holders of Securities of such
series to make such payments to the Trustee, and, in the event that the Trustee
shall consent to the making of such payments directly to such Securityholders,
to pay to the Trustee any amount due it under Section 7.06. 

24 

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

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

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

            Section
6.03. Application of Moneys Collected. 

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

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

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

            THIRD:          
To the Company or as a court of competent jurisdiction may direct in a final
non-applicable judgement. 

25 

           
Section 6.04. Limitation on Suits. 

            No
holder of any Security of any series shall have any right by virtue or by
availing itself of any provision of this Indenture to institute any suit, action
or proceeding in equity or at law upon or under or with respect to this
Indenture or for the appointment of a receiver or trustee, or for any other
remedy hereunder, unless: (a) such holder previously shall have given to the
Trustee written notice of an Event of Default and of the continuance thereof
with respect to the Securities of such series specifying such Event of Default,
as hereinbefore provided; (b) the holders of not less than 25% in aggregate
principal amount of the Outstanding Securities of such series (in the case of an
Event of Default described in clauses Section 6.01(a)(i) or Section 6.01(a)(ii)
of Section 6.01, each such series voting as a separate class, and in the case of
an Event of Default described in clauses Section 6.01(a)(iii), Section
6.01(a)(iv), Section 6.01(a)(v) or Section 6.01(a)(vi) of Section 6.01, all
affected series voting together as a single class) or shall have made written
request upon the Trustee to institute such action, suit or proceeding in its own
name as trustee hereunder; (c) such holder or holders shall have offered to the
Trustee such indemnity satisfactory to the Trustee against the costs, expenses
and liabilities to be incurred therein or thereby; (d) the Trustee for 60 days
after its receipt of such notice, request and offer of indemnity, shall have
failed to institute any such action, suit or proceeding; and (e) during such 60
day period, the holders of a majority in principal amount of the Securities of
such series (voting as provided in clause (b) above) do not give the Trustee a
direction inconsistent with the request. 

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

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

           
(a)        Except as otherwise provided in
Section 2.07, all powers and remedies given by this Article to the Trustee or to
the Securityholders shall, to the extent permitted by law, be deemed cumulative
and not exclusive of any other powers and remedies available to the Trustee or
the holders of the Securities, by judicial proceedings or otherwise, to enforce
the performance or observance of the covenants and agreements contained in this
Indenture or otherwise established with respect to such Securities. 

26 

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

            Section
6.06. Control by Securityholders. 

            The
holders of a majority in aggregate principal amount of the Securities of all
series at the time Outstanding affected thereby (all such series voting together
as a single class except with respect to an Event of Default described in
clauses Section 6.01(a)(i) or Section 6.01(a)(ii) of Section 6.01, in which
case, each such affected series voting as a separate class), determined in
accordance with Section 8.04, shall have the right to direct the time, method
and place of conducting any proceeding for any remedy available to the Trustee,
or exercising any trust or power conferred on the Trustee with respect to such
series subject to Section 7.02(d); provided, however, that such
direction shall not be in conflict with any rule of law or with this Indenture
or be unduly prejudicial to the rights of holders of Securities of any other
series at the time Outstanding determined in accordance with Section 8.04.
Subject to the provisions of Section 7.01, the Trustee shall have the right to
decline to follow any such direction if the Trustee in good faith shall, by a
Responsible Officer or Officers of the Trustee, determine that the proceeding so
directed would involve the Trustee in personal liability. The holders of a
majority in aggregate principal amount of the Securities of all series at the
time Outstanding affected thereby (all such series voting together as a single
class), determined in accordance with Section 8.04, may on behalf of the holders
of all of the Securities of such series waive any past default in the
performance of any of the covenants contained herein or established pursuant to
Section 2.01 with respect to such series and its consequences, except a default
in the payment of the principal of, or premium, if any, or interest on, any of
the Securities of any such series as and when the same shall become due by the
terms of such Securities otherwise than by acceleration (unless such default has
been cured and a sum sufficient to pay all matured installments of interest and
principal and any premium has been deposited with the Trustee (in accordance
with Section 6.01(c)) . Upon any such waiver, the default covered thereby shall
be deemed to be cured for all purposes of this Indenture and the Company, the
Trustee and the holders of the Securities of such series shall be restored to
their former positions and rights hereunder, respectively; but no such waiver
shall extend to any subsequent or other default or impair any right consequent
thereon. 

            Section
6.07. Undertaking to Pay Costs. 

            All
parties to this Indenture agree, and each holder of any Securities by such
holder’s acceptance thereof shall be deemed to have agreed, that any court may
in its discretion require, in any suit for the enforcement of any right or
remedy under this Indenture, or in any suit against the Trustee for any action
taken or omitted by it as Trustee, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees 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 shall not apply to any suit instituted by the Trustee, to any suit instituted by any
Securityholder, or group of Securityholders, holding more than 10% in aggregate
principal amount of the Outstanding Securities of any series, or to any suit
instituted by any Securityholder for the enforcement of the payment of the
principal of (or premium, if any) or interest on any Security of such series, on
or after the respective due dates expressed in such Security or established
pursuant to this Indenture. 

27 

ARTICLE 7 
CONCERNING THE TRUSTEE 

            Section
7.01. Certain Duties and Responsibilities of Trustee. 

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

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

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

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

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

28 

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

            (iii)       
the Trustee shall not be liable with respect to any action taken or omitted to
be taken by it in good faith in accordance with the direction of Securityholders
provided to the Trustee in accordance with Section 6.06 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; 

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

           
(v)        whether or not therein expressly
so provided, every provision of this Indenture relating to the conduct of or
affecting the liability of or affording protection to the Trustee shall be
subject to the requirements of the Trust Indenture Act. 

           
Section 7.02. Certain Rights of Trustee. 

           
Except as otherwise provided in Section 7.01: 

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

           
(b)        any request, direction, order or
demand of the Company mentioned herein shall be sufficiently evidenced by a
Board Resolution or an instrument signed in the name of the Company, by any two
of the Chief Executive Officer, Chief Financial Officer, the Secretary, an
Assistant Secretary, the Treasurer and an Assistant Treasurer thereof (unless
other evidence in respect thereof is specifically prescribed herein); 

           
(c)        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 respect of
any action taken or suffered or omitted hereunder in good faith and in reliance
thereon; 

           
(d)        subject to Section 7.01, the
Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request, order or direction of any of the
Security holders, pursuant to the provisions of this Indenture, unless such
Securityholders shall have offered to the Trustee security or indemnity satisfactory
to it against the costs, expenses and liabilities that may be incurred therein
or thereby; 

29 

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

           
(f)        the Trustee shall not be bound to
make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, consent,
order, approval, bond, security, or other papers or documents, unless requested
in writing so to do and indemnified by the holders of not less than a majority
in principal amount of the Outstanding Securities of the series affected
thereby. The reasonable expense of every such examination shall be paid by the
Company or, if paid by the Trustee, shall be repaid by the Company upon demand;

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

           
(h)        the Trustee shall not be deemed to
have notice of any Default or Event of Default unless a Responsible Officer of
the Trustee has actual knowledge thereof or unless written notice of any event
which is in fact such a default is received by the Trustee at the Corporate
Trust Office, and such notice references the Securities and this Indenture; 

           
(i)        the rights, privileges,
protections, immunities and benefits given to the Trustee, including, without
limitation, its right to be indemnified in connection with the performance of
its duties under this Indenture shall extend to the Trustee’s officers,
directors, agents and employees. Such immunities and protections and right to
indemnification, together with the Trustee’s right to compensation, shall
survive the Trustee’s resignation or removal and final payment of the
Securities; 

           
(j)        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;

           (k)       
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; and 

           
(l)        The Trustee shall not be required
to give any bond or surety in respect of the performance of its powers and
duties hereunder. 

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

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

30 

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

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

            Section
7.04. May Hold Securities. 

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

            Section
7.05. Moneys Held in Trust. 

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

            Section
7.06. Compensation and Reimbursement. 

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

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

31 

            (c)       
When the Trustee incurs expenses or renders services in connection with an Event
of Default, the expenses (including the reasonable charges and expenses of its
counsel) and the compensation for the services are intended to constitute
expenses of administration under any applicable Federal or State bankruptcy,
insolvency or other similar law. 

            Section
7.07. Reliance on Officers’ Certificate or Opinion of Counsel or Both.

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

           
Section 7.08. Disqualification; Conflicting Interests. 

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

           
Section 7.09. Corporate Trustee Required, Eligibility. 

            There
shall at all times be a Trustee with respect to the Securities issued hereunder
which shall at all times be a corporation or national association organized and
doing business under the laws of the United States of America or any State or
Territory thereof or of the District of Columbia, or a corporation or other
Person permitted to act as trustee by the Commission, authorized under such laws
to exercise corporate trust powers, having a combined capital and surplus of at
least 50 million U.S. dollars ($50,000,000), and subject to supervision or
examination by Federal, State, Territorial, or District of Columbia authority.
If such corporation or national association publishes reports of condition at
least annually, pursuant to law or to the requirements of the aforesaid
supervising or examining authority, then for the purposes of this Section, the
combined capital and surplus of such corporation or national association shall
be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. The Company may not, nor may any Person
directly or indirectly controlling, controlled by, or under common control with
the Company, serve as Trustee. In case at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section, the Trustee shall
resign immediately in the manner and with the effect specified in Section 7.10.

           
Section 7.10. Resignation and Removal; Appointment of Successor. 

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

32 

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

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

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

           (iii)       
the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or
insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the
Trustee or of its property shall be appointed or consented to, or any public
officer shall take charge or control of the Trustee or of its property or
affairs for the purpose of rehabilitation, conservation or liquidation, 

then, in any such case, the Company may remove the Trustee with
respect to all Securities and appoint a successor trustee by written instrument,
in duplicate, executed by order of the Board of Directors, one copy of which
instrument shall be delivered to the Trustee so removed and one copy to the
successor trustee, or, unless the Trustee’s duty to resign is stayed as provided
herein, any Securityholder who has been a bona fide holder of a Security or
Securities for at least six months may, on behalf of that holder and all others
similarly situated, petition any court of competent jurisdiction for the removal
of the Trustee and the appointment of a successor trustee. Such court may
thereupon after such notice, if any, as it may deem proper and prescribe, remove
the Trustee and appoint a successor trustee. 

            (c)       
The holders of a majority in aggregate principal amount of the Securities of any
series at the time Outstanding may at any time remove the Trustee with respect
to such series by so notifying the Trustee and the Company in writing within 30
days of the effective date of such removal and may appoint a successor Trustee
for such series with the consent of the Company. 

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

33 

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

            Section
7.11. Acceptance of Appointment by Successor. 

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

            (b)       
In case of the appointment hereunder of a successor trustee with respect to the
Securities of one or more (but not all) series, the Company, the retiring
Trustee and each successor trustee with respect to the Securities of one or more
series shall execute and deliver an indenture supplemental hereto wherein each
successor trustee shall accept such appointment and which (i) shall contain such
provisions as shall be necessary or desirable to transfer and confirm to, and to
vest in, each successor trustee all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which
the appointment of such successor trustee relates, (ii) shall contain such
provisions as shall be deemed necessary or desirable to confirm that all the
rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and (iii) shall
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same
trust, that each such Trustee shall be trustee of a trust or trusts hereunder
separate and apart from any trust or trusts hereunder administered by any other
such Trustee and that no Trustee shall be responsible for any act or failure to
act on the part of any other Trustee hereunder; and upon the execution and
delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein, such
retiring Trustee shall with respect to the Securities of that or those series to
which the appointment of such successor trustee relates have no further
responsibility for the exercise of rights and powers or for the performance of
the duties and obligations vested in the Trustee under this Indenture, and each
such successor trustee, without any further act, deed or conveyance, shall
become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the
appointment of such successor trustee relates; but, on request of the Company or
any successor trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor trustee, to the extent contemplated by such
supplemental indenture, the property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the
appointment of such successor trustee relates. 

34 

            (c)       
Upon request of any such successor trustee, the Company shall execute any and
all instruments for more fully and certainly vesting in and confirming to such
successor trustee all such rights, powers and trusts referred to in paragraph
(a) or (b) of this Section, as the case may be. 

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

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

            (f)       
The retiring Trustee shall have no responsibility or liability for by action or
inaction of a successor trustee. 

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

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

           
Section 7.13. Preferential Collection of Claims Against the Company. 

            The
Trustee shall comply with Section 31l(a) of the Trust Indenture Act, excluding
any creditor relationship described in Section 31l(b) of the Trust Indenture
Act. A Trustee who has resigned or been removed shall be subject to Section
311(a) of the Trust Indenture Act to the extent included therein. 

ARTICLE 8 
CONCERNING THE SECURITYHOLDERS 

           
Section 8.01. Evidence of Action by Securityholders. 

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

35 

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

           
Section 8.02. Proof of Execution by Securityholders. 

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

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

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

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

           
Section 8.03. Who May be Deemed Owners. 

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

36 

           
Section 8.04. Certain Securities Owned by Company Disregarded. 

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

           
Section 8.05. Actions Binding on Future Securityholders. 

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

ARTICLE 9 
SUPPLEMENTAL INDENTURES 

           
Section 9.01. Supplemental Indentures Without the Consent of
Securityholders. 

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

37 

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

           
(b)        to comply with Article 10; 

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

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

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

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

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

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

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

           
Section 9.02. Supplemental Indentures With Consent of Securityholders.

            With
the consent (evidenced as provided in Section 8.01) of the holders of not less
than a majority in aggregate principal amount of the Securities of all of the
series affected by such supplemental indenture or indentures at the time
Outstanding (all such series voting together as a single class), the Company,
when authorized by Board Resolutions, and the Trustee may from time to time and
at any time enter into an indenture or indentures supplemental hereto (which
shall conform to the provisions of the Trust Indenture Act as then in effect)
for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or of any supplemental
indenture or of modifying in any manner not covered by Section 9.01 the rights
of the holders of the Securities of such series under this Indenture;
provided, however, that no such supplemental indenture shall,
without the consent of the holders of each Security then Outstanding and
affected thereby, (i) extend the fixed maturity of any Securities of any series, or reduce the principal amount
thereof, or reduce the rate or extend the time of payment of interest thereon,
or reduce any premium payable upon the redemption thereof or (ii) reduce the
aforesaid percentage of Securities, the holders of which are required to consent
to any such supplemental indenture. 

38 

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

            Section
9.03. Effect of Supplemental Indentures. 

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

            Section
9.04. Securities Affected by Supplemental Indentures. 

            Following
the execution, authentication and delivery of a supplemental indenture pursuant
to the provisions of this Article or of Section 10.01, the Securities of any
series affected thereby may bear a notation in form approved by the Company,
provided such form meets the requirements of any exchange 

            Upon
which such series may be listed, as to any matter provided for in such
supplemental indenture. If the Company shall determine that it is necessary or
desirable, new Securities of such series so modified as to conform, in the
opinion of the Board of Directors, to any modification of this Indenture
contained in any such supplemental indenture may be prepared by the Company,
authenticated by the Trustee and delivered in exchange for the Securities of
that series then Outstanding. 

            Section
9.05. Execution of Supplemental Indentures. 

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

39 

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

            Section
9.06. 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. 

ARTICLE 10 
SUCCESSOR CORPORATION 

            Section
10.01. Company May Consolidate, Etc., Only on Certain Terms. 

            The
Company shall not consolidate with or merge into any other Person or convey,
transfer or lease all or substantially all of its properties and assets to any
Person, and the Company shall not permit any Person to consolidate with or merge
into the Company, unless: 

           
(a) in case the Company shall consolidate with or merge into another Person or
convey, transfer or lease all or substantially all of its properties and assets
to any Person, the Person formed by such consolidation or into which the Company
is merged or the Person which acquires by conveyance or transfer, or which
leases, all or substantially all of the properties and assets of the Company
shall be a corporation, partnership or trust, shall be organized and validly
existing under the laws of the United States of America, any State thereof or
the District of Columbia and shall expressly assume, by an indenture
supplemental hereto, executed and delivered to the Trustee, the due and punctual
payment of the principal of and any premium and interest on all the Securities
and the performance or observance of every covenant of this Indenture on the
part of the Company to be performed or observed; 

           
(b) immediately after giving effect to such transaction, no Event of Default,
and no event which, after notice or lapse of time or both, would become an Event
of Default, shall have happened and be continuing; and 

            (c)       
the Company has delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that such consolidation, merger, conveyance, transfer
or lease and, if a supplemental indenture is required in connection with such
transaction, such supplemental indenture comply with this Article and that all
conditions precedent herein provided for relating to such transaction have been
complied with. 

            Section
10.02. Successor Substitute. 

40 

            Upon
any consolidation of the Company with, or merger of the Company into, any other
Person or any conveyance, transfer or lease of all or substantially all of the
properties and assets of the Company in accordance with Section 10.01 above, the
successor Person formed by such consolidation 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 the 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 relieved of all obligations and covenants under the
Indenture and the Securities. 

ARTICLE 11 
DEFEASANCE AND DISCHARGE 

            Section
11.01. Discharge of Company’s Obligations. Except as otherwise
provided in this Section 11.01, the Company may terminate its obligations under
the Securities of any series and this Indenture with respect to the Securities
of such series if:

             (a)       
all Securities of such series previously authenticated and delivered (other than
destroyed, lost or wrongfully taken Securities of such series that have been
replaced or Securities of such series that are paid pursuant to Section 2.07 or
Securities of such series for whose payment money or securities have theretofore
been held in trust and thereafter repaid to the Company, as provided in Section
11.05) have been delivered to the Trustee for cancellation and the Company has
paid all sums payable by it hereunder; or 

            (b)       
(i) the Securities of such series are scheduled to mature within one year or are
to be called for redemption within one year under arrangements satisfactory to
the Trustee for giving the notice of redemption, (ii) the Company irrevocably
deposits in trust with the Trustee, as trust funds solely for the benefit of the
holders of such Securities, money or Government Obligations or a combination
thereof sufficient (unless such funds consist solely of money), in the opinion
of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, without consideration of
any reinvestment and after payment of all Federal, state and local taxes or
other charges and assessments in respect thereof payable by the Trustee, to pay
and discharge the principal of (and premium, if any) and interest on the
Securities of such series to maturity or redemption, as the case may be, and to
pay all other sums payable by the Company hereunder, and (iii) the Company
delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, in
each case stating that all conditions precedent provided for herein relating to
the satisfaction and discharge of this Indenture with respect to the Securities
of such series have been complied with. 

            With
respect to the foregoing clause (a), only the Company’s obligations under
Sections 7.06 and 11.05 in respect of the Securities of such series shall
survive. With respect to the foregoing clause (b), only the Company’s
obligations in Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10 in respect
of the Securities of such series shall survive until such Securities of such
series are no longer outstanding. Thereafter, only the Company’s obligations in
Sections 7.06 and 11.05 in respect of the Securities of such series shall
survive. After any such irrevocable deposit, the Trustee shall acknowledge in
writing the discharge of the Company’s obligations under the Securities of such
series and this Indenture with respect to the Securities of such series except
for those surviving obligations specified above. 

41 

            Section
11.02. Legal Defeasance. Except as provided below, the Company will be
deemed to have paid and will be discharged from any and all obligations in
respect of the Securities of any series and the provisions of this Indenture
(and the Trustee, at the expense of the Company, shall execute instruments in
form and substance satisfactory to the Company and the Trustee acknowledging the
same) if the following conditions shall have been satisfied: 

            (a)       
the Company has irrevocably deposited in trust with the Trustee as trust funds
solely for the benefit of the holders of the Securities of such series, for
payment of the principal of (and premium, if any) and interest on the Securities
of such series, money or Government Obligations or a combination thereof
sufficient (unless such funds consist solely of money), in the opinion of a
nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee without consideration of
any reinvestment and after payment of all Federal, state and local taxes or
other charges and assessments in respect thereof payable by the Trustee, to pay
and discharge the principal of (and premium, if any) and interest on the
outstanding Securities of such series to maturity or earlier redemption
(irrevocably provided for under arrangements satisfactory to the Trustee), as
the case may be; 

            (b)       
such deposit will 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 Default or Event of Default with respect to the Securities of such series
shall have occurred and be continuing on the date of such deposit; 

            (d)       
the Company has delivered to the Trustee (i) either (x) a ruling directed to the
Trustee received from the Internal Revenue Service to the effect that the
holders of the Securities of such series will not recognize income, gain or loss
for Federal income tax purposes as a result of the Company’s exercise of its
option under this Section 11.02 and will be subject to Federal income tax on the
same amount and in the same manner and at the same times as would have been the
case if such deposit and defeasance had not occurred or (y) an Opinion of
Counsel to the same effect as the ruling described in clause (x) above and based
upon a change in law and (ii) an Opinion of Counsel, subject to customary
assumptions and qualifications, to the effect that the holders of the Securities
of such series have a valid security interest in the trust funds subject to no
prior liens under the UCC; and 

            (e)       
the Company has delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel, in each case stating that all conditions precedent provided for
herein relating to the defeasance contemplated by this Section 11.02 of the
Securities of such series have been complied with. 

            The
Company’s obligations in Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10
with respect to the Securities of such series shall survive until such
Securities are no longer outstanding. Thereafter, only the Company’s obligations
in Sections 7.06 and 11.05 shall survive. 

            Section
11.03. Covenant Defeasance. The Company may omit to comply with any term,
provision or condition set forth in Sections 4.05, 4.06 or 4.08 (or any other
specific covenant relating to the Securities of any series provided for in a
Board Resolution or supplemental indenture pursuant to Section 2.01 which may by
its terms be defeased pursuant to this Section 11.03), and such omission shall
be deemed not to be an Event of Default under clause (a)(iii) of Section 6.01,
with respect to the outstanding Securities of such series if: 

42 

           
(a)        the Company has irrevocably
deposited in trust with the Trustee as trust funds solely for the benefit of the
holders of Securities of such series, for payment of the principal of (and
premium, if any) and interest on the Securities of such series, money or
Government Obligations or a combination thereof in an amount sufficient (unless
such funds consist solely of money), in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee without consideration of any reinvestment and
after payment of all Federal, state and local taxes or other charges and
assessments in respect thereof payable by the Trustee, to pay and discharge the
principal of (and premium, if any) and accrued interest on the outstanding
Securities of such series to maturity or earlier redemption (irrevocably
provided for under arrangements satisfactory to the Trustee), as the case may
be; 

           
(b)        such deposit will 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 Default or Event of Default
with respect to the Securities of such series shall have occurred and be
continuing on the date of such deposit; 

           
(d)        the Company has delivered to the
Trustee an Opinion of Counsel, subject to customary assumptions and
qualifications, to the effect that (i) the holders of the Securities of such
series have a valid security interest in the trust funds subject to no prior
liens under the UCC and (ii) such holders will not recognize income, gain or
loss for Federal income tax purposes as a result of such deposit and covenant
defeasance and will be subject to Federal income tax on the same amount and in
the same manner and at the same times as would have been the case if such
deposit and defeasance had not occurred; and 

           
(e)        the Company has delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, in each case stating
that all conditions precedent provided for herein relating to the covenant
defeasance contemplated by this Section 11.03 of the Securities of such series
have been complied with. 

            Section
11.04. Application of Trust Money. Subject to Section 11.05, the Trustee
or paying agent shall hold in trust money or Government Obligations deposited
with it pursuant to Section 11.01, 11.02 or 11.03, as the case maybe, in respect
of the Securities of any series and shall apply the deposited money and the
proceeds from deposited Government Obligations in accordance with the Securities
of such series and this Indenture to the payment of principal of (and premium,
if any) and interest on the Securities of such series; but such money need not
be segregated from other funds except to the extent required by law. The Company
shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the Government Obligations deposited pursuant to Section
11.01, 11.02 or 11.03, as the case may be, or the principal and interest received in respect thereof,
other than any such tax, fee or other charge that by law is for the account of
the Securityholders. 

43 

            Section
11.05. Repayment to Company. Subject to Sections 7.06, 11.01, 11.02 and
11.03, the Trustee and the paying agent shall promptly pay to the Company upon
request set forth in an Officers’ Certificate any money held by them at any time
and not required to make payments hereunder and thereupon shall be relieved from
all liability with respect to such money. Subject to applicable escheat or
abandoned property laws, the Trustee and the paying agent shall pay to the
Company upon written request any money held by them and required to make
payments under this Indenture that remains unclaimed for two years;
provided that the Trustee or such paying agent before being required to
make any such payment to the Company shall cause to be published at the expense
of the Company once in an Authorized Newspaper or mail to each Securityholder
entitled to such money at such Securityholder’s address (as set forth in the
register) notice that such money remains unclaimed and that after a date
specified therein (which shall be at least 30 days from the date of such
publication or mailing) any unclaimed balance of such money then remaining will
be repaid to the Company. After payment to the Company, Securityholders entitled
to such money must look to the Company for payment as unsecured general
creditors unless an abandoned property law designates another Person, and all
liability of the Trustee and such paying agent with respect to such money shall
cease. 

ARTICLE 12 
IMMUNITY OF INCORPORATORS, SHAREHOLDERS, OFFICERS
AND DIRECTORS 

            Section
12.01. No Recourse. 

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

44 

ARTICLE 13 
MISCELLANEOUS PROVISIONS 

            Section
13.01. Effect on Successors and Assigns. 

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

            Section
13.02. Actions by Successor. 

           
Any act or proceeding which by any provision of this Indenture is authorized or
required to be done or performed by any board, committee or officer of the
Company shall and may be done and performed with like force and effect by the
corresponding board, committee or officer of any corporation that shall at the
time be the lawful successor of the Company. 

            Section
13.03. Surrender of Company Powers. 

            The
Company, by an instrument in writing executed by 2/3 (two-thirds) of its Board
of Directors and delivered to the Trustee, may surrender any of the powers or
rights, but in no event any of its duties or obligations, reserved to the
Company under this Indenture, including any supplemental indenture hereto, and
thereupon such power or right so surrendered shall terminate both as to the
Company and as to any successor corporation. 

            Section
13.04. Notices. 

            Except
as otherwise expressly provided herein any notice or demand that by any
provision of this Indenture is required or permitted to be given or served by
the Trustee or by the holders of Securities to or on the Company may be given or
served by being deposited first class postage prepaid in a post-office letterbox
addressed (until another address is filed in writing by the Company with the
Trustee), as follows: Net 1 UEPS Technologies, Inc., President Place,
4th Floor, Cnr. Jan Smuts Avenue and Bolton Road, Rosebank,
Johannesburg, South Africa. Any notice, election, request or demand by the
Company or any Securityholder to or upon the Trustee shall be deemed to have
been sufficiently given or made, for all purposes, if given or made in writing
at the Corporate Trust Office. 

            Section
13.05. Governing Law. 

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

            Section
13.06. Compliance Certificates and Opinions. 

            (a)       
Upon any application or demand by the Company to the Trustee to take any action
under any of the provisions of this Indenture, the Company shall furnish to the
Trustee an Officers’ Certificate stating that all conditions precedent provided
for in this Indenture relating to the proposed action have been complied with
and an Opinion of Counsel stating that in the opinion of such counsel all such
conditions precedent have been complied with. 

45 

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

           
Section 13.07. Payments on Business Days. 

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

           
Section 13.08. Conflict with Trust Indenture Act. 

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

           
Section 13.09. Counterparts. 

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

           
Section 13.10. Separability. 

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

           
Section 13.11. Assignment. 

            The
Company will have the right at all times to assign any of its rights or
obligations under this Indenture to a direct or indirect wholly-owned Subsidiary
of the Company, provided that, in the event of any such assignment, the
Company will remain liable for all such obligations. Subject to the foregoing,
the Indenture is binding upon and inures to the benefit of the parties thereto
and their respective successors and assigns. This Indenture may not otherwise be
assigned by the parties hereto. 

46 

            Section
13.12. 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 NOTES OR THE
TRANSACTION CONTEMPLATED HEREBY. 

            Section
13.13. 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
13.14. USA Patriot Act 

            The
parties hereto acknowledge that in accordance with Section 326 of the USA
PATRIOT Act, the Trustee, like all financial institutions and in order to help
fight the funding of terrorism and money laundering, is required to obtain,
verify and record information that identifies each person or legal entity that
establishes a relationship or opens an account with the Trustee. The parties to
this Indenture agree that they will provide the Trustee with such information as
it may request in order for the Trustee to satisfy the requirements of the USA
PATRIOT Act. 

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

NET 1 UEPS TECHNOLOGIES, INC. 

By:
____________________________________
Name: 
Title: 

WELLS FARGO BANK, NATIONAL
  

ASSOCIATION, as Trustee 

By:
____________________________________
Name: 
Title: 

47

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