Document:

ex4_2.htm

    
      

    

    Exhibit
4.2

    

    OCCULOGIX,
INC.

    

    TO

    

    _______________________

    

    AS
TRUSTEE

    

    INDENTURE

    

    DATED
AS OF ________, 20___

    

    SUBORDINATED
DEBT SECURITIES

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

    TABLE OF
CONTENTS

    

    
      
        
          
            
              
                
                  
                    	 
      	 
      	 
      	
                            Page

                          
	 
      	 
      	 
      	 
      
	
                            ARTICLE
      1 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

                          	
                            1

                          
	 
      	
                            Section
      1.1

                          	
                            Definitions.

                          	
                            1

                          
	 
      	
                            Section
      1.2

                          	
                            Compliance
      Certificates and Opinions.

                          	
                            9

                          
	 
      	
                            Section
      1.3

                          	
                            Form
      of Documents Delivered to Trustee.

                          	
                            9

                          
	 
      	
                            Section
      1.4

                          	
                            Acts
      of Holders; Record Dates.

                          	
                            10

                          
	 
      	
                            Section
      1.5

                          	
                            Notices,
      etc., to Trustee and Company.

                          	
                            12

                          
	 
      	
                            Section
      1.6

                          	
                            Notice
      to Holders; Waiver.

                          	
                            12

                          
	 
      	
                            Section
      1.7

                          	
                            Conflict
      with Trust Indenture Act.

                          	
                            12

                          
	 
      	
                            Section
      1.8

                          	
                            Effect
      of Headings and Table of Contents.

                          	
                            12

                          
	 
      	
                            Section
      1.9

                          	
                            Successors
      and Assigns.

                          	
                            13

                          
	 
      	
                            Section
      1.10

                          	
                            Separability
      Clause.

                          	
                            13

                          
	 
      	
                            Section
      1.11

                          	
                            Benefits
      of Indenture.

                          	
                            13

                          
	 
      	
                            Section
      1.12

                          	
                            Governing
      Law.

                          	
                            13

                          
	 
      	
                            Section
      1.13

                          	
                            Legal
      Holidays.

                          	
                            13

                          
	 
      	
                            Section
      1.14

                          	
                            Indenture
      and Securities Solely Corporate Obligations.

                          	
                            13

                          
	 
      	
                            Section
      1.15

                          	
                            Indenture
      May be Executed in Counterparts.

                          	
                            13

                          
	
                            ARTICLE
      2 SECURITY FORMS

                          	
                            14

                          
	 
      	
                            Section
      2.1

                          	
                            Forms
      Generally.

                          	
                            14

                          
	 
      	
                            Section
      2.2

                          	
                            Form
      of Face of Security.

                          	
                            14

                          
	 
      	
                            Section
      2.3

                          	
                            Form
      of Reverse of Security.

                          	
                            16

                          
	 
      	
                            Section
      2.4

                          	
                            Form
      of Legend for Global Securities.

                          	
                            19

                          
	 
      	
                            Section
      2.5

                          	
                            Form
      of Trustee’s Certificate of Authentication.

                          	
                            19

                          
	 
      	
                            Section
      2.6

                          	
                            Form
      of Conversion Notice.

                          	
                            19

                          
	
                            ARTICLE
      3 THE SECURITIES

                          	
                            20

                          
	 
      	
                            Section
      3.1

                          	
                            Amount
      Unlimited; Issuable in Series.

                          	
                            20

                          
	 
      	
                            Section
      3.2

                          	
                            Denominations.

                          	
                            23

                          
	 
      	
                            Section
      3.3

                          	
                            Execution,
      Authentication, Delivery and Dating.

                          	
                            24

                          
	 
      	
                            Section
      3.4

                          	
                            Temporary
      Securities.

                          	
                            25

                          
	 
      	
                            Section
      3.5

                          	
                            Registration;
      Registration of Transfer and Exchange.

                          	
                            25

                          
	 
      	
                            Section
      3.6

                          	
                            Mutilated,
      Destroyed, Lost and Stolen Securities.

                          	
                            27

                          
	 
      	
                            Section
      3.7

                          	
                            Payment
      of Interest; Interest Rights Preserved.

                          	
                            28

                          
	 
      	
                            Section
      3.8

                          	
                            Persons
      Deemed Owners.

                          	
                            29

                          
	 
      	
                            Section
      3.9

                          	
                            Cancellation.

                          	
                            29

                          
	 
      	
                            Section
      3.10

                          	
                            Computation
      of Interest.

                          	
                            29

                          
	
                            ARTICLE
      4 SATISFACTION AND DISCHARGE

                          	
                            29

                          
	 
      	
                            Section
      4.1

                          	
                            Satisfaction
      and Discharge of Indenture.

                          	
                            29

                          
	 
      	
                            Section
      4.2

                          	
                            Application
      of Trust Money.

                          	
                            30

                          
	
                            ARTICLE
      5 REMEDIES

                          	
                            30

                          
	 
      	
                            Section
      5.1

                          	
                            Events
      of Default.

                          	
                            30

                          
	 
      	
                            Section
      5.2

                          	
                            Acceleration
      of Maturity; Rescission and Annulment.

                          	
                            32

                          
	 
      	
                            Section
      5.3

                          	
                            Collection
      of Indebtedness and Suits for Enforcement by Trustee.

                          	
                            33

                          
	 
      	
                            Section
      5.4

                          	
                            Trustee
      May File Proofs of Claim.

                          	
                            33

                          
	 
      	
                            Section
      5.5

                          	
                            Trustee
      May Enforce Claims Without Possession of Securities.

                          	
                            34

                          

                  

                

              

            

          

        

      

    

    
      
         

      

      
        -i-

        
          

        

      

      
         

      

    

    TABLE
OF CONTENTS

    

    
      
        
          
            
              	 
      	 
      	 
      	
                      Page

                    
	 
      	 
      	 
      	 
      
	 
      	
                      Section
      5.6

                    	
                      Application
      of Money Collected.

                    	
                      34

                    
	 
      	
                      Section
      5.7

                    	
                      Limitation
      on Suits.

                    	
                      34

                    
	 
      	
                      Section
      5.8

                    	
                      Unconditional
      Right of Holders to Receive Principal, Premium and Interest and to
      Convert.

                    	
                      35

                    
	 
      	
                      Section
      5.9

                    	
                      Restoration
      of Rights and Remedies.

                    	
                      35

                    
	 
      	
                      Section
      5.10

                    	
                      Rights
      and Remedies Cumulative.

                    	
                      35

                    
	 
      	
                      Section
      5.11

                    	
                      Delay
      or Omission Not Waiver.

                    	
                      35

                    
	 
      	
                      Section
      5.12

                    	
                      Control
      by Holders.

                    	
                      35

                    
	 
      	
                      Section
      5.13

                    	
                      Waiver
      of Past Defaults.

                    	
                      36

                    
	 
      	
                      Section
      5.14

                    	
                      Undertaking
      for Costs.

                    	
                      36

                    
	 
      	
                      Section
      5.15

                    	
                      Waiver
      of Usury, Stay or Extension Laws.

                    	
                      36

                    
	
                      ARTICLE
      6 THE TRUSTEE

                    	
                      37

                    
	 
      	
                      Section
      6.1

                    	
                      Certain
      Duties and Responsibilities.

                    	
                      37

                    
	 
      	
                      Section
      6.2

                    	
                      Notice
      of Defaults.

                    	
                      37

                    
	 
      	
                      Section
      6.3

                    	
                      Certain
      Rights of Trustee.

                    	
                      38

                    
	 
      	
                      Section
      6.4

                    	
                      Not
      Responsible for Recitals or Issuance of Securities.

                    	
                      38

                    
	 
      	
                      Section
      6.5

                    	
                      May
      Hold Securities and Act as Trustee under Other Indentures.

                    	
                      39

                    
	 
      	
                      Section
      6.6

                    	
                      Money
      Held in Trust.

                    	
                      39

                    
	 
      	
                      Section
      6.7

                    	
                      Compensation
      and Reimbursement.

                    	
                      39

                    
	 
      	
                      Section
      6.8

                    	
                      Conflicting
      Interests.

                    	
                      40

                    
	 
      	
                      Section
      6.9

                    	
                      Corporate
      Trustee Required; Eligibility.

                    	
                      40

                    
	 
      	
                      Section
      6.10

                    	
                      Resignation
      and Removal; Appointment of Successor.

                    	
                      40

                    
	 
      	
                      Section
      6.11

                    	
                      Acceptance
      of Appointment by Successor.

                    	
                      41

                    
	 
      	
                      Section
      6.12

                    	
                      Merger,
      Conversion, Consolidation or Succession to Business.

                    	
                      42

                    
	 
      	
                      Section
      6.13

                    	
                      Preferential
      Collection of Claims Against Company.

                    	
                      43

                    
	 
      	
                      Section
      6.14

                    	
                      Appointment
      of Authenticating Agent.

                    	
                      43

                    
	
                      ARTICLE
      7 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

                    	
                      44

                    
	 
      	
                      Section
      7.1

                    	
                      Company
      to Furnish Trustee Names and Addresses of Holders.

                    	
                      44

                    
	 
      	
                      Section
      7.2

                    	
                      Preservation
      of Information; Communications to Holders.

                    	
                      44

                    
	 
      	
                      Section
      7.3

                    	
                      Reports
      by Trustee.

                    	
                      45

                    
	 
      	
                      Section
      7.4

                    	
                      Reports
      by Company.

                    	
                      45

                    
	
                      ARTICLE
      8 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

                    	
                      45

                    
	 
      	
                      Section
      8.1

                    	
                      Company
      May Consolidate, etc., Only on Certain Terms.

                    	
                      45

                    
	 
      	
                      Section
      8.2

                    	
                      Successor
      Substituted.

                    	
                      46

                    
	
                      ARTICLE
      9 SUPPLEMENTAL INDENTURES

                    	
                      46

                    
	 
      	
                      Section
      9.1

                    	
                      Supplemental
      Indentures Without Consent of Holders.

                    	
                      46

                    
	 
      	
                      Section
      9.2

                    	
                      Supplemental
      Indentures with Consent of Holders.

                    	
                      48

                    
	 
      	
                      Section
      9.3

                    	
                      Execution
      of Supplemental Indentures.

                    	
                      49

                    
	 
      	
                      Section
      9.4

                    	
                      Effect
      of Supplemental Indentures.

                    	
                      49

                    
	 
      	
                      Section
      9.5

                    	
                      Conformity
      with Trust Indenture Act.

                    	
                      49

                    
	 
      	
                      Section
      9.6

                    	
                      Reference
      in Securities to Supplemental Indentures.

                    	
                      49

                    
	
                      ARTICLE
      10 COVENANTS

                    	
                      49

                    
	 
      	
                      Section
      10.1

                    	
                      Payment
      of Principal, Premium and Interest.

                    	
                      49

                    
	 
      	
                      Section
      10.2

                    	
                      Maintenance
      of Office or Agency.

                    	
                      49

                    

            

          

        

      

    

    
      
         

      

      
        -ii-

        
          

        

      

      
         

      

    

    TABLE
OF CONTENTS

    

    
      
        
          
            	 
      	 
      	 
      	
                    Page

                  
	 
      	 
      	 
      	 
      
	 
      	
                    Section
      10.3

                  	
                    Money
      for Securities Payments to be Held in Trust.

                  	
                    50

                  
	 
      	
                    Section
      10.4

                  	
                    Statement
      by Officers as to Default.

                  	
                    51

                  
	 
      	
                    Section
      10.5

                  	
                    Existence.

                  	
                    51

                  
	 
      	
                    Section
      10.6

                  	
                    Waiver
      of Certain Covenants.

                  	
                    51

                  
	
                    ARTICLE
      11 REDEMPTION OF SECURITIES

                  	
                    51

                  
	 
      	
                    Section
      11.1

                  	
                    Applicability
      of Article.

                  	
                    51

                  
	 
      	
                    Section
      11.2

                  	
                    Election
      to Redeem; Notice to Trustee.

                  	
                    52

                  
	 
      	
                    Section
      11.3

                  	
                    Selection
      by Trustee of Securities to Be Redeemed.

                  	
                    52

                  
	 
      	
                    Section
      11.4

                  	
                    Notice
      of Redemption.

                  	
                    52

                  
	 
      	
                    Section
      11.5

                  	
                    Deposit
      of Redemption Price.

                  	
                    53

                  
	 
      	
                    Section
      11.6

                  	
                    Securities
      Payable on Redemption Date.

                  	
                    54

                  
	 
      	
                    Section
      11.7

                  	
                    Securities
      Redeemed in Part.

                  	
                    54

                  
	
                    ARTICLE
      12 SINKING FUNDS

                  	
                    54

                  
	 
      	
                    Section
      12.1

                  	
                    Applicability
      of Article.

                  	
                    54

                  
	 
      	
                    Section
      12.2

                  	
                    Satisfaction
      of Sinking Fund Payments with Securities.

                  	
                    55

                  
	 
      	
                    Section
      12.3

                  	
                    Redemption
      of Securities for Sinking Fund.

                  	
                    55

                  
	
                    ARTICLE
      13 DEFEASANCE AND COVENANT DEFEASANCE

                  	
                    55

                  
	 
      	
                    Section
      13.1

                  	
                    Company’s
      Option to Effect Defeasance or Covenant Defeasance.

                  	
                    55

                  
	 
      	
                    Section
      13.2

                  	
                    Defeasance
      and Discharge.

                  	
                    55

                  
	 
      	
                    Section
      13.3

                  	
                    Covenant
      Defeasance.

                  	
                    56

                  
	 
      	
                    Section
      13.4

                  	
                    Conditions
      to Defeasance or Covenant Defeasance.

                  	
                    57

                  
	 
      	
                    Section
      13.5

                  	
                    Deposited
      Money, U.S. Government Obligations and Foreign Government Obligations to
      be Held in Trust; Miscellaneous Provisions.

                  	
                    59

                  
	 
      	
                    Section
      13.6

                  	
                    Reinstatement.

                  	
                    59

                  
	
                    ARTICLE
      14 CONVERSION OF SECURITIES

                  	
                    60

                  
	 
      	
                    Section
      14.1

                  	
                    Applicability
      of Article.

                  	
                    60

                  
	 
      	
                    Section
      14.2

                  	
                    Exercise
      of Conversion Privilege.

                  	
                    60

                  
	 
      	
                    Section
      14.3

                  	
                    No
      Fractional Shares.

                  	
                    61

                  
	 
      	
                    Section
      14.4

                  	
                    Adjustment
      of Conversion Price or Conversion Rate.

                  	
                    61

                  
	 
      	
                    Section
      14.5

                  	
                    Notice
      of Certain Corporate Actions.

                  	
                    62

                  
	 
      	
                    Section
      14.6

                  	
                    Reservation
      of Shares of Common Stock.

                  	
                    62

                  
	 
      	
                    Section
      14.7

                  	
                    Payment
      of Certain Taxes upon Conversion.

                  	
                    62

                  
	 
      	
                    Section
      14.8

                  	
                    Nonassessability.

                  	
                    63

                  
	 
      	
                    Section
      14.9

                  	
                    Provision
      in Case of Consolidation, Merger or Sale of Assets.

                  	
                    63

                  
	 
      	
                    Section 14.10

                  	
                    Duties
      of Trustee Regarding Conversion.

                  	
                    64

                  
	 
      	
                    Section 14.11

                  	
                    Repayment
      of Certain Funds upon Conversion.

                  	
                    64

                  
	
                    ARTICLE
      15 SUBORDINATION OF SECURITIES

                  	
                    64

                  
	 
      	
                    Section
      15.1

                  	
                    Agreement
      of Subordination.

                  	
                    64

                  
	 
      	
                    Section
      15.2

                  	
                    Payments
      to Holders.

                  	
                    65

                  
	 
      	
                    Section
      15.3

                  	
                    Subrogation
      of Securities.

                  	
                    67

                  
	 
      	
                    Section
      15.4

                  	
                    Authorization
      to Effect Subordination.

                  	
                    68

                  
	 
      	
                    Section
      15.5

                  	
                    Notice
      to Trustee.

                  	
                    68

                  
	 
      	
                    Section
      15.6

                  	
                    Trustee’s
      Relation to Senior Debt.

                  	
                    69

                  
	 
      	
                    Section
      15.7

                  	
                    No
      Impairment of Subordination.

                  	
                    69

                  

          

        

      

    

    
      
         

      

      
        -iii-

        
          

        

      

      
         

      

    

    TABLE
OF CONTENTS

    

    
      
        
          
            	 
      	 
      	 
      	
                    Page

                  
	 
      	 
      	 
      	 
      
	 
      	
                    Section
      15.8

                  	
                    Certain
      Conversions/Exchanges Deemed Payment.

                  	
                    69

                  
	 
      	
                    Section
      15.9

                  	
                    Article
      Applicable to Paying Agents.

                  	
                    69

                  
	 
      	
                    Section 15.10

                  	
                    Senior
      Debt Entitled to Rely.

                  	
                    70

                  
	 
      	
                    Section 15.11

                  	
                    Reliance
      on Judicial Order or Certificate of Liquidating Agent.

                  	
                    70

                  
	 
      	
                    Section 15.12

                  	
                    Trust
      Monies Not Subordinated.

                  	
                    70

                  

          

        

      

    

    
      
         

      

      
        -iv-

        
          

        

      

      
         

      

    

    TABLE
OF CONTENTS

    

    
      
        
          
            	 
      	 
      	
                    Page

                  
	
                    Certain
      Sections of this Indenture relating to Sections 310 through 318,
      inclusive, of the Trust Indenture Act of 1939:

                     

                  
	
                    Section
      310

                  	
                    (a)(1)

                  	
                    6.9

                  
	 
      	
                    (a)(2)

                  	
                    6.9

                  
	 
      	
                    (a)(3)

                  	
                    Not
      Applicable

                  
	 
      	
                    (a)(4)

                  	
                    Not
      Applicable

                  
	 
      	
                    (b)

                  	
                    6.8,
      6.10

                  
	
                    Section
      311

                  	
                    (a)

                  	
                    6.13

                  
	 
      	
                    (b)

                  	
                    6.13

                  
	
                    Section
      312

                  	
                    (a)

                  	
                    7.1,
      7.2

                  
	 
      	
                    (b)

                  	
                    7.2

                  
	 
      	
                    (c)

                  	
                    7.2

                  
	
                    Section
      313

                  	
                    (a)

                  	
                    7.3

                  
	 
      	
                    (b)

                  	
                    7.3

                  
	 
      	
                    (c)

                  	
                    7.3

                  
	 
      	
                    (d)

                  	
                    7.3

                  
	
                    Section
      314

                  	
                    (a)

                  	
                    7.4

                  
	 
      	
                    (a)(4)

                  	
                    1.1,
      10.4

                  
	 
      	
                    (b)

                  	
                    Not
      Applicable

                  
	 
      	
                    (c)(1)

                  	
                    1.2

                  
	 
      	
                    (c)(2)

                  	
                    1.2

                  
	 
      	
                    (c)(3)

                  	
                    Not
      Applicable

                  
	 
      	
                    (d)

                  	
                    Not
      Applicable

                  
	 
      	
                    (e)

                  	
                    1.2

                  
	
                    Section
      315

                  	
                    (a)

                  	
                    6.1

                  
	 
      	
                    (b)

                  	
                    6.2

                  
	 
      	
                    (c)

                  	
                    6.1

                  
	 
      	
                    (d)

                  	
                    6.1

                  
	 
      	
                    (e)

                  	
                    5.14

                  
	
                    Section
      316

                  	
                    (a)

                  	
                    1.1

                  
	 
      	
                    (a)(1)(A)

                  	
                    5.2,
      5.12

                  
	 
      	
                    (a)(1)(B

                  	
                    5.13

                  
	 
      	
                    (a)(2)

                  	
                    Not
      Applicable

                  
	 
      	
                    (b)

                  	
                    5.8

                  
	 
      	
                    (c)

                  	
                    1.4

                  
	
                    Section
      317

                  	
                    (a)(1)

                  	
                    5.3

                  
	 
      	
                    (a)(2)

                  	
                    5.4

                  
	 
      	
                    (b)

                  	
                    10.3

                  
	
                    Section
      318

                  	
                    (a)

                  	
                    1.7

                  

          

        

      

    

    

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

    
      
         

      

      
        -v-

        
          

        

      

      
         

      

    

    INDENTURE,
dated as of ___, 20___, between OccuLogix, Inc., a corporation duly organized
and existing under the laws of the State of Delaware (herein called the
“Company”), having its principal executive office at 12707 High Bluff Drive,
Suite 200, San Diego, California 92130, and ___, as Trustee (herein called the
“Trustee”).

    

    RECITALS
OF THE COMPANY

    

    The
Company has duly authorized the execution and delivery of this Indenture to
provide for the issuance from time to time of its unsecured subordinated
debentures, notes or other evidences of indebtedness (herein called the
“Securities”), to be issued in one or more series as provided in this
Indenture.

    

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

    

    NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

    

    For and
in consideration of the premises and the purchase of the Securities by the
Holders thereof, it is mutually covenanted and agreed, for the equal and
proportionate benefit of all Holders of the Securities or of series thereof
appertaining, as follows:

    

    ARTICLE
1

    DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATION

    

    
      	
              Section
      1.1

            	
              Definitions.

            

    

    

    For all
purposes of this Indenture, except as otherwise expressly provided or unless the
context otherwise requires:

    

    
      	
               
      

            	
              (1)

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

            

    

    

    
      	
               
      

            	
              (2)

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

            

    

    

    
      	
               
      

            	
              (3)

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

            

    

    

    
      	
               
      

            	
              (4)

            	
              all
      references to “$” refer to the lawful currency of the United States of
      America;

            

    

    

    
      	
               
      

            	
              (5)

            	
              unless
      the context otherwise requires, any reference to an “Article” or a
      “Section” refers to an Article or a Section, as the case may be, of this
      Indenture; and

            

    

    

    
      	
               
      

            	
              (6)

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

            

    

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

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

    

    “Affiliate”
of any specified Person means any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
such specified Person.

    

    “Authenticating
Agent” means any Person authorized by the Trustee pursuant to Section 6.14 to
act on behalf of the Trustee to authenticate Securities of one or more
series.

    

    “Board of
Directors” means either the board of directors of the Company or any duly
authorized committee of that board empowered to act for it with respect to this
Indenture.

    

    “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,
and delivered to the Trustee.

    

    “Business
Day,” when used with respect to any Place of Payment, means each Monday,
Tuesday, Wednesday, Thursday and Friday which is not a day on which banking
institutions in that Place of Payment are authorized or obligated by law or
executive order to close.

    

    “Commission”
means the Securities and Exchange Commission, from time to time constituted,
created under the Exchange Act, or, if at any time after the execution of this
instrument such Commission is not existing and performing the duties now
assigned to it under the Trust Indenture Act, then the body performing such
duties at such time.

    

    “Common
Stock” includes any stock of any class of the Company which has no preference in
respect of dividends or of amounts payable in the event of any voluntary or
involuntary liquidation, dissolution or winding-up of the Company and which is
not subject to redemption by the Company; provided, however, subject to the
provisions of Section 14.9, shares issuable upon conversion of Securities shall
include only shares of the class designated as Common Stock of the Company at
the date of this Indenture or shares of any class or classes resulting from any
reclassification or reclassifications thereof and which have no preference in
respect of dividends or of amounts payable in the event of any voluntary or
involuntary liquidation, dissolution or winding-up of the Company and which are
not subject to redemption by the Company; provided, further, that if at any time
there shall be more than one such resulting class, the shares of each such class
then so issuable shall be substantially in the proportion which the total number
of shares of such class resulting from all such reclassifications bears to the
total number of shares of all such classes resulting from all such
reclassifications.

    

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

    

    “Company
Request” or “Company Order” means a written request or order signed in the name
of the Company by its Chairman of the Board, its Vice Chairman of the Board, its
Chief Executive Officer, its President or a Vice President, and by its principal
financial officer, its Treasurer, an Assistant Treasurer, its Secretary or an
Assistant Secretary, and delivered to the Trustee.

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    “control”
when used with respect to any specified Person means the power to direct the
management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms
“controlling” and “controlled” have meanings correlative to the
foregoing.

    

    “Corporate
Trust Office” means the corporate trust office of the Trustee at __________,
Attention: Corporate Trust Department, or such other office, designated by the
Trustee by written notice to the Company, at which at any particular time its
corporate trust business shall be administered.

    

    “corporation”
means a corporation, association, company, joint-stock company or business
trust.

    

    “Covenant
Defeasance” has the meaning specified in Section 13.3.

    

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

    

    “Defeasance”
has the meaning specified in Section 13.2.

    

    “Depositary”
means, with respect to Securities of any series issuable in whole or in part in
the form of one or more Global Securities, a clearing agency registered under
the Exchange Act that is designated to act as Depositary for such Securities as
contemplated by Section 3.1.

    

    “Designated
Senior Debt” means the Company’s obligations under any particular Senior Debt in
which the instrument creating or evidencing the same or the assumption or
guarantee thereof (or related agreements or documents to which the Company is a
party) expressly provides that such Senior Debt shall be “Designated Senior
Debt” for purposes of this Indenture (provided that such instrument, agreement
or other document may place limitations and conditions on the right of such
Senior Debt to exercise the rights of Designated Senior Debt).  If any
payment made to any holder of any Designated Senior Debt or its Representative
with respect to such Designated Senior Debt is rescinded or must otherwise be
returned by such holder or Representative upon the insolvency, bankruptcy or
reorganization of the Company or otherwise, the reinstated Indebtedness of the
Company arising as a result of such rescission or return shall constitute
Designated Senior Debt effective as of the date of such rescission or
return.

    

    “euro” or
“euros” means the currency adopted by those nations participating in the third
stage of the economic and monetary union provisions of the Treaty on European
Union, signed at Maastricht on February 7, 1992.

    

    “European
Economic Area” means the member nations of the European Economic Area pursuant
to the Oporto Agreement on the European Economic Area dated May 2, 1992, as
amended.

    

    “European
Union” means the member nations of the European Union established by the Treaty
of European Union, signed at Maastricht on February 2, 1992, which amended the
Treaty of Rome establishing the European Community.

    

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

    

    “Exchange
Act” means the Securities Exchange Act of 1934 and any statute successor
thereto, in each case as amended from time to time.

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    “Expiration
Date” has the meaning specified in Section 1.4.

    

    “Foreign
Government Obligation” means with respect to Securities of any series which are
not denominated in the currency of the United States of America (x) any security
which is (i) a direct obligation of the government which issued or caused to be
issued the currency in which such security is denominated and for the payment of
which obligations its full faith and credit is pledged, or, with respect to
Securities of any series which are denominated in euros, a direct obligation of
any member nation of the European Union for the payment of which obligation the
full faith and credit of the respective nation is pledged so long as such nation
has a credit rating at least equal to that of the highest rated member nation of
the European Economic Area, or (ii) an obligation of a Person controlled or
supervised by or acting as an agency or instrumentality of a government
specified in clause (i) above the timely payment of which is unconditionally
guaranteed as a full faith and credit obligation by the such government, which,
in either case (i) or (ii), is not callable or redeemable at the option of the
issuer thereof, and (y) any depositary receipt issued by a bank (as defined in
Section 3(a)(2) of the Securities Act) as custodian with respect to any Foreign
Government Obligation which is specified in clause (x) above and held by such
bank for the account of the holder of such depositary receipt, or with respect
to any specific payment of principal of or interest on any Foreign Government
Obligation which is so specified and held, provided that (except as required by
law) such custodian is not authorized to make any deduction from the amount
payable to the holder of such depositary receipt from any amount received by the
custodian in respect of the Foreign Government Obligation or the specific
payment of principal or interest evidenced by such depositary
receipt.

    

    “Global
Security” means a Security that evidences all or part of the Securities of any
series and bears the legend set forth in Section 2.4 (or such legend as may be
specified as contemplated by Section 3.1 for such Securities).

    

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

    

    “Indebtedness”
means, with respect to any Person, all obligations, whether absolute or
contingent, whether secured or unsecured, due or to become due, outstanding on
the date of this Indenture or thereafter created, incurred or assumed, of such
Person (i) (a) for borrowed money (including, but not limited to, any
indebtedness secured by a security interest, mortgage or other lien on the
assets of that Person that is (1) given to secure all or part of the purchase
price of property subject thereto, whether given to the vendor of such property
or to another, or (2) existing on property at the time of acquisition thereof),
(b) evidenced by a note or similar instrument given in connection with the
acquisition of any businesses, properties or assets of any kind (c) evidenced by
a credit or loan agreement, note, debenture, bond or other written obligation,
(d) under a lease required to be capitalized on the balance sheet of the lessee
under GAAP or under other leases for facilities, capital equipment or related
assets, whether or not capitalized, entered into or leased for financing
purposes, (e) in respect of letters of credit, bank guarantees, bankers’
acceptances and similar facilities (including reimbursement obligations with
respect to any of the foregoing), (f) issued or assumed as the deferred purchase
price of any property or services, but excluding trade accounts payable and
accrued liabilities arising in the ordinary course of business, (g) under
interest rate or currency swap agreements, cap, floor, collar agreements, hedge
agreements, forward contracts and similar agreements and arrangements; (ii) with
respect to any obligation of others of the type described in the preceding
clause (i) and all dividends of another Person, the payment of which, in either
case, assumed by or guaranteed in any manner by such Person or for which such
Person is responsible or liable, directly or indirectly, jointly or severally,
as obligor, guarantor or otherwise, or which are secured by a lien on such
Person’s property; and (iii) any and all renewals, extensions, modifications,
replacements, restatements and refundings of, or any Indebtedness or obligation
issued in exchange for, any such Indebtedness or obligation described in the
preceding clauses (i) or (ii).

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    “Indenture”
means this instrument as originally executed and as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into pursuant to the applicable provisions hereof, including, for all purposes
of this instrument and any such supplemental indenture, the provisions of the
Trust Indenture Act that are deemed to be a part of and govern this instrument
and any such supplemental indenture, respectively.  The term
“Indenture” shall also include the terms of particular series of Securities
established as contemplated by Section 3.1; provided, however, that if at any
time more than one Person is acting as Trustee under this Indenture due to the
appointment of one or more separate Trustees for any one or more separate series
of Securities, “Indenture” shall mean, with respect to such series of Securities
for which any such Person is Trustee, 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 pursuant to the applicable provisions hereof
and shall include the terms of particular series of Securities for which such
Person is Trustee established as contemplated by Section 3.1, exclusive,
however, of any provisions or terms which relate solely to other series of
Securities for which such Person is not Trustee, regardless of when such terms
or provisions were adopted, and exclusive of any provisions or terms adopted by
means of one or more indentures supplemental hereto executed and delivered after
such Person had become such Trustee, but to which such person, as such Trustee,
was not a party; provided, further that in the event that this Indenture is
supplemented or amended by one or more indentures supplemental hereto which are
only applicable to certain series of Securities, the term “Indenture” for a
particular series of Securities shall only include the supplemental indentures
applicable thereto.

    

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

    

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

    

    “Investment
Company Act” means the Investment Company Act of 1940 and any statute successor
thereto, in each case as amended from time to time.

    

    “Maturity,”
when used with respect to any Security, means the date on which the principal of
such Security or an installment of principal becomes due and payable as therein
or herein provided, whether at the Stated Maturity or by declaration of
acceleration, repurchase at the option of the Holder, upon redemption or
otherwise.

    

    “Notice
of Default” means a written notice of the kind specified in Section
5.1(4).

    

    “Officers’
Certificate” means a certificate signed by the Chairman of the Board, a Vice
Chairman of the Board, the Chief Executive Officer, the President or a Vice
President, and by the principal financial officer, the Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary, of the Company, and
delivered to the Trustee.  One of the officers signing an Officers’
Certificate given pursuant to Section 10.4 shall be the principal executive,
financial or accounting officer of the Company.

    

    “Opinion
of Counsel” means a written opinion of counsel, who may be counsel for, or an
employee of, the Company, and who shall be reasonably acceptable to the
Trustee.

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    “Original
Issue Discount Security” means any Security that provides for an amount less
than the principal amount thereof to be due and payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 5.2.

    

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

    

    
      	
               
      

            	
              (1)

            	
              Securities
      theretofore canceled by the Trustee or delivered to the Trustee for
      cancellation;

            

    

    

    
      	
               
      

            	
              (2)

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

            

    

    

    
      	
               
      

            	
              (3)

            	
              Securities
      as to which Defeasance has been effected pursuant to Section 13.2;
      and

            

    

    

    
      	
               
      

            	
              (4)

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

            

    

    

    provided,
however, that in determining whether the Holders of the requisite principal
amount of the Outstanding Securities have given, made or taken any request,
demand, authorization, direction, notice, consent, waiver or other action
hereunder as of any date, (A) the principal amount of an Original Issue Discount
Security which shall be deemed to be Outstanding shall be the amount of the
principal thereof which would be due and payable as of such date upon
acceleration of the Maturity thereof to such date pursuant to Section 5.2, (B)
if, as of such date, the principal amount payable at the Stated Maturity of a
Security is not determinable, the principal amount of such Security which shall
be deemed to be Outstanding shall be the amount as specified or determined as
contemplated by Section 3.1, (C) the principal amount of a Security denominated
in one or more non-U.S. dollar currencies or currency units which shall be
deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of
such date in the manner provided as contemplated by Section 3.1, of the
principal amount of such Security (or, in the case of a Security described in
clause (A) or (B) above, of the amount determined as provided in such clause),
and (D) Securities owned by the Company or any other obligor upon the Securities
or any Affiliate of the Company or of such other obligor shall be disregarded
and deemed not to be Outstanding, except that, in determining whether the
Trustee shall be protected in relying upon any such request, demand,
authorization, direction, notice, consent, waiver or other action, only
Securities which the Trustee knows to be so owned shall be so
disregarded.  Securities so owned which have been pledged in good
faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such
Securities and that the pledgee is not the Company or any other obligor upon the
Securities or any Affiliate of the Company or of such other
obligor.

    

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

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    “Payment
Blockage Notice” has the meaning specified in Section 15.2.

    

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

    

    “Place of
Payment,” when used with respect to the Securities of any series, means the
place or places where the principal of and any premium and interest on the
Securities of that series are payable as specified as contemplated by Section
3.1.

    

    “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 3.6 in exchange for or in lieu of a mutilated,
destroyed, lost or stolen Security shall be deemed to evidence the same debt as
the mutilated, destroyed, lost or stolen Security.

    

    “Record
Date” means any Regular Record Date or Special Record Date.

    

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

    

    “Redemption
Price,” when used with respect to any Security to be redeemed, means the price
at which it is to be redeemed pursuant to this Indenture.

    

    “Regular
Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as
contemplated by Section 3.1.

    

    “Representative”
means the (a) indenture trustee or other trustee, agent or representative for
any Senior Debt or (b) with respect to any Senior Debt that does not have any
such trustee, agent or other representative, (i) in the case of such Senior Debt
issued pursuant to an agreement providing for voting arrangements as among the
holders or owners of such Senior Debt, any holder or owner of such Senior Debt
acting with the consent of the required persons necessary to bind such holders
or owners of such Senior Debt and (ii) in the case of all other such Senior
Debt, the holder or owner of such Senior Debt.

    

    “Responsible
Officer” means, when used with respect to the Trustee, an officer of the Trustee
in the Corporate Trust Office assigned and duly authorized by the Trustee to
administer its corporate trust matters.

    

    “Securities”
has the meaning stated in the first recital of this Indenture and more
particularly means any Securities authenticated and delivered under this
Indenture.

    

    “Securities
Act” means the Securities Act of 1933 and any statute successor thereto, in each
case as amended from time to time.

    

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

    

    “Senior
Debt” means the principal of, premium, if any, and interest (including all
interest accruing subsequent to the commencement of any bankruptcy or similar
proceeding, whether or not a claim for post-petition interest is allowable as a
claim in any such proceeding) on, and all fees and other amounts payable in
connection with, Indebtedness of the Company, whether outstanding on the date of
this Indenture or thereafter created, incurred, assumed, guaranteed or in effect
guaranteed by the Company (including all deferrals, renewals, extensions or
refundings of, or amendments, modifications or supplements to, the foregoing),
unless in the case of any particular Indebtedness the instrument creating or
evidencing the same or the assumption or guarantee thereof expressly provides
that such Indebtedness shall not be senior in right of payment to the Securities
or expressly provides that such Indebtedness is “pari passu” or “ junior” to the
Securities.  Notwithstanding the foregoing, the term Senior Debt shall
not include any Indebtedness of the Company to any Subsidiary of the
Company.  If any payment made to any holder of any Senior Debt or its
Representative with respect to such Senior Debt is rescinded or must otherwise
be returned by such holder or Representative upon the insolvency, bankruptcy or
reorganization of the Company or otherwise, the reinstated Indebtedness of the
Company arising as a result of such rescission or return shall constitute Senior
Debt effective as of the date of such rescission or return.

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

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

    

    “Stated
Maturity,” when used with respect to any Security or any installment of
principal thereof or interest thereon, means the date specified in such Security
as the fixed date on which the principal of such Security or such installment of
principal or interest is due and payable.

    

    “Subsidiary”
means a Person of which more than 50% of the outstanding voting stock having the
power to elect a majority of the board of directors of such Person (in the case
of a corporation) is, or of which more than 50% of the equity interests (in the
case of a Person which is not a corporation) are, at the time owned, directly or
indirectly, by the Company or by one or more other Subsidiaries, or by a
combination of the Company and one or more other Subsidiaries.  For
the purposes of this definition, “voting stock” means stock or other similar
interests to the Company which ordinarily has or have voting power for the
election of directors, or persons performing similar functions, whether at all
times or only so long as no senior class of stock or other interests has or have
such voting power by reason of any contingency.

    

    “Trust
Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as
of which this instrument was executed; provided, however, that in the event the
Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act”
means, to the extent required by any such amendment, the Trust Indenture Act of
1939 as so amended.

    

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

    

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

    
      
         

      

      
        -8-

        
          

        

      

      
         

      

    

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

    

    
      	
              Section
      1.2

            	
              Compliance
      Certificates and Opinions.

            

    

    

    Upon any
application or request by the Company to the Trustee to take any action under
any provision of this Indenture, the Company shall furnish to the Trustee such
certificates and opinions as may be required under the Trust Indenture
Act.  Each such certificate or opinion shall be given in the form of
an Officers’ Certificate, if to be given by an officer of the Company, or an
Opinion of Counsel, if to be given by counsel, and shall comply with the
requirements of the Trust Indenture Act and any other requirements set forth in
this Indenture.

    

    Every
certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture shall include,

    

    
      	
               
      

            	
              (1)

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

            

    

    

    
      	
               
      

            	
              (2)

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

            

    

    

    
      	
               
      

            	
              (3)

            	
              a
      statement that, in the opinion of each such individual, 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

            

    

    

    
      	
               
      

            	
              (4)

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

            

    

    

    
      	
              Section
      1.3

            	
              Form
      of Documents Delivered to Trustee.

            

    

    

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

    

    Any
certificate or opinion of an officer of the Company may be based, insofar as it
relates to legal matters, upon a certificate or opinion of, or representations
by, counsel, unless such officer knows, or in the exercise of reasonable care
should know, that the certificate or opinion or representations with respect to
the matters upon which his or her certificate or opinion is based are
erroneous.  Any such certificate or opinion of counsel may be based,
insofar as it relates to factual matters, upon a certificate or opinion of, or
representations by, an officer or officers of the Company stating that the
information with respect to such factual matters is in the possession of the
Company, unless such counsel knows, or in the exercise of reasonable care should
know, that the certificate or opinion or representations with respect to such
matters are erroneous.

    
      
         

      

      
        -9-

        
          

        

      

      
         

      

    

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

    

    
      	
              Section
      1.4

            	
              Acts
      of Holders; Record Dates.

            

    

    

    Any
request, demand, authorization, direction, notice, consent, waiver or other
action provided or permitted by this Indenture to be given, made or taken by
Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by agent duly
appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered
to the Trustee and, where it is hereby expressly required, to the
Company.  The Trustee shall promptly deliver to the Company copies of
all such instrument or instruments delivered to the Trustee.  Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders signing
such instrument or instruments.  Proof of execution of any such
instrument or of a writing appointing any such agent shall be sufficient for any
purpose of this Indenture and (subject to Section 6.1) conclusive in favor of
the Trustee and the Company, if made in the manner provided in this
Section.

    

    The fact
and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by a certificate of a
notary public or other officer authorized by law to take acknowledgments of
deeds, certifying that the individual signing such instrument or writing
acknowledged to him or her the execution thereof.  Where such
execution is by a signer acting in a capacity other than his or her individual
capacity, such certificate or affidavit shall also constitute sufficient proof
of his or her authority.  The fact and date of the execution of any
such instrument or writing, or the authority of the Person executing the same,
may also be proved in any other manner that the Trustee deems
sufficient.

    

    The
ownership of Securities shall be proved by the Security Register.

    

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

    

    The
Company may set any day as a record date for the purpose of determining the
Holders of Outstanding Securities of any series entitled to give, make or take
any request, demand, authorization, direction, vote, notice, consent, waiver or
other action provided or permitted by this Indenture to be given, made or taken
by Holders of Securities of such series, provided that the Company may not set a
record date for, and the provisions of this paragraph shall not apply with
respect to, the giving or making of any notice, declaration, request or
direction referred to in the next paragraph.  If any record date is
set pursuant to this paragraph, the Holders of Outstanding Securities of the
relevant series on such record date, and no other Holders, shall be entitled to
take the relevant action, whether or not such Holders remain Holders after such
record date; provided that no such action shall be effective hereunder unless
taken on or prior to the applicable Expiration Date by Holders of the requisite
principal amount of Outstanding Securities of such series on such record
date.  Nothing in this paragraph shall be construed to prevent the
Company from setting a new record date for any action for which a record date
has previously been set pursuant to this paragraph (whereupon the record date
previously set shall automatically and with no action by any Person be canceled
and of no effect), and nothing in this paragraph shall be construed to render
ineffective any action taken by Holders of the requisite principal amount of
Outstanding Securities of the relevant series on the date such action is
taken.  Promptly after any record date is set pursuant to this
paragraph, the Company, at its own expense, shall cause notice of such record
date, the proposed action by Holders and the applicable Expiration Date to be
given to the Trustee in writing and to each Holder of Securities of the relevant
series in the manner set forth in Section 1.6.

    
      
         

      

      
        -10-

        
          

        

      

      
         

      

    

    The
Trustee may set any day as a record date for the purpose of determining the
Holders of Outstanding Securities of any series entitled to join in the giving
or making of (i) any Notice of Default, (ii) any declaration of acceleration
referred to in Section 5.2, (iii) any request to institute proceedings referred
to in Section 5.7(2) or (iv) any direction referred to in Section 5.12, in each
case with respect to Securities of such series.  If any record date is
set pursuant to this paragraph, the Holders of Outstanding Securities of such
series on such record date, and no other Holders, shall be entitled to join in
such notice, declaration, request or direction, whether or not such Holders
remain Holders after such record date; provided that no such action shall be
effective hereunder unless taken on or prior to the applicable Expiration Date
by Holders of the requisite principal amount of Outstanding Securities of such
series on such record date.  Nothing in this paragraph shall be
construed to prevent the Trustee from setting a new record date for any action
for which a record date has previously been set pursuant to this paragraph
(whereupon the record date previously set shall automatically and with no action
by any Person be canceled and of no effect), and nothing in this paragraph shall
be construed to render ineffective any action taken by Holders of the requisite
principal amount of Outstanding Securities of the relevant series on the date
such action is taken.  Promptly after any record date is set pursuant
to this paragraph, the Trustee, at the Company’s expense, shall cause notice of
such record date, the proposed action by Holders and the applicable Expiration
Date to be given to the Company in writing and to each Holder of Securities of
the relevant series in the manner set forth in Section 1.6.

    

    With
respect to any record date set pursuant to this Section, the party hereto which
sets such record dates may designate any day as the “Expiration Date” and from
time to time may change the Expiration Date to any earlier or later day;
provided that no such change shall be effective unless notice of the proposed
new Expiration Date is given to the other party hereto in writing, and to each
Holder of Securities of the relevant series in the manner set forth in Section
1.6, on or prior to the existing Expiration Date.  If an Expiration
Date is not designated with respect to any record date set pursuant to this
Section, the party hereto which set such record date shall be deemed to have
initially designated the 180th day after such record date as the Expiration Date
with respect thereto, subject to its right to change the Expiration Date as
provided in this paragraph.  Notwithstanding the foregoing, no
Expiration Date shall be later than the 180th day after the applicable record
date.

    

    Without
limiting the foregoing, a Holder entitled hereunder to take any action hereunder
with regard to any particular Security may do so with regard to all or any part
of the principal amount of such Security or by one or more duly appointed agents
each of which may do so pursuant to such appointment with regard to all or any
part of such principal amount.

    
      
         

      

      
        -11-

        
          

        

      

      
         

      

    

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

    

    
      	
               
      

            	
              (1)

            	
              the
      Trustee by any Holder or by the Company shall be sufficient for every
      purpose hereunder if made, given, furnished or filed in writing (or by
      facsimile transmissions, provided that oral confirmation of receipt shall
      have been received) to or with the Trustee at its Corporate Trust Office,
      Attention: Corporate Trust Department,
or

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      Company by the Trustee or by any Holder shall be sufficient for every
      purpose hereunder (unless otherwise herein expressly provided) if in
      writing and mailed, first-class postage prepaid, personally delivered or
      sent via overnight courier to the Company addressed to it at the address
      of its principal office specified in the first paragraph of this
      instrument or at any other address previously furnished in writing to the
      Trustee by the Company, Attention: Chief Financial
  Officer.

            

    

    

    
      	
              Section
      1.6

            	
              Notice
      to Holders; Waiver.

            

    

    

    Where
this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing
and mailed, first-class postage prepaid, or delivered by hand or overnight
courier, to each Holder affected by such event, at its address as it appears in
the Security Register, not later than the latest date (if any), and not earlier
than the earliest date (if any), prescribed for the giving of such
notice.  Neither the failure to mail or deliver by hand or overnight
courier any notice, nor any defect in any notice so mailed or delivered by hand
or overnight courier, to any particular Holder shall affect the sufficiency of
such notice with respect to other Holders.  Where this Indenture
provides for notice in any manner, such notice may be waived in writing by the
Person entitled to receive such notice, either before or after the event, and
such waiver shall be the equivalent of such notice.  Waivers of notice
by Holders shall be filed with the Trustee, but such filing shall not be a
condition precedent to the validity of any action taken in reliance upon such
waiver.

    

    In case
by reason of the suspension of regular mail service or by reason of any other
cause it shall be impracticable to give such notice by mail, then such
notification as shall be made with the approval of the Trustee shall constitute
a sufficient notification for every purpose hereunder.

    

    
      	
              Section
      1.7

            	
              Conflict
      with Trust Indenture Act.

            

    

    

    If any
provision hereof limits, qualifies or conflicts with a provision of the Trust
Indenture Act that is required under the Trust Indenture Act to be a part of and
govern this Indenture, the latter provision shall control.  If any
provision of this Indenture modifies or excludes any provision of the Trust
Indenture Act, which may be so modified or excluded, the latter provision shall
be deemed to apply to this Indenture as so modified or to be excluded, as the
case may be.

    

    
      	
              Section
      1.8

            	
              Effect
      of Headings and Table of Contents.

            

    

    

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

    
      
         

      

      
        -12-

        
          

        

      

      
         

      

    

    
      	
              Section
      1.9

            	
              Successors
      and Assigns.

            

    

    

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

    

    
      	
              Section
      1.10

            	
              Separability
      Clause.

            

    

    

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

    

    
      	
              Section
      1.11

            	
              Benefits
      of Indenture.

            

    

    

    Nothing
in this Indenture or in the Securities, express or implied, shall give to any
Person, other than the parties hereto and their successors hereunder, the
holders of Senior Debt and the Holders, any benefit or any legal or equitable
right, remedy or claim under this Indenture.

    

    
      	
              Section
      1.12

            	
              Governing
      Law.

            

    

    

    THIS
INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS
OF THE STATE OF NEW YORK.

    

    
      	
              Section
      1.13

            	
              Legal
      Holidays.

            

    

    

    In any
case where any Interest Payment Date, Redemption Date or Stated Maturity of any
Security or the last date on which a Holder has the right to convert a Security
at a particular conversion price or conversion rate, as the case may be, shall
not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or of the Securities (other than a provision of any
Security which specifically states that such provision shall apply in lieu of
this Section)) payment of interest or principal (and premium, if any) or, if
applicable to a particular series of Securities, conversion need not be made at
such Place of Payment on such date, but may be made on the next succeeding
Business Day at such Place of Payment with the same force and effect as if made
on the Interest Payment Date or Redemption Date, at the Stated Maturity or on
such last day for conversion, as the case may be.

    

    
      	
              Section
      1.14

            	
              Indenture
      and Securities Solely Corporate
Obligations.

            

    

    

    No
recourse for the payment of the principal of or premium, if any, or interest on
any Security, or for any claim based thereon or otherwise in respect thereof,
and no recourse under or upon any obligation, covenant or agreement of the
Company in this Indenture or in any supplemental indenture or in any Security,
or because of the creation of any indebtedness represented thereby, shall be had
against any incorporator, stockholder, employee, agent, officer, or director or
subsidiary, as such, past, present or future, of the Company or of any successor
corporation, either directly or through the Company or any 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 all such liability is hereby expressly waived and released as a
condition of, and as a consideration for, the execution of this Indenture and
the issue of the Securities.

    

    
      	
              Section
      1.15

            	
              Indenture
      May be Executed in
Counterparts.

            

    

    
      
         

      

      
        -13-

        
          

        

      

      
         

      

    

    This
instrument 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.

    

    ARTICLE
2

    SECURITY
FORMS

    

    
      	
              Section
      2.1

            	
              Forms
      Generally.

            

    

    

    The
Securities of each series shall be in substantially the form set forth in this
Article, or in such other form as shall be established by or pursuant to a Board
Resolution or in one or more indentures supplemental hereto, in each case with
such appropriate insertions, omissions, substitutions and other variations as
are required or permitted by this Indenture, and may have such letters, numbers
or other marks of identification and such legends or endorsements placed thereon
as may be required to comply with the rules of any securities exchange or
Depositary therefor or as may, consistently herewith, be determined by the
officers executing such Securities, as evidenced by their execution
thereof.  If the form of Securities of any series is 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 Company
Order contemplated by Section 3.3 for the authentication and delivery of such
Securities.  Any such Board Resolution or record of such action shall
have attached thereto a true and correct copy of the form of Security referred
to therein approved by or pursuant to such Board Resolution.

    

    The
definitive Securities shall be printed, lithographed or engraved on steel
engraved borders or may be produced in any other manner, all as determined by
the officers executing such Securities, as evidenced by their execution of such
Securities.

    

    
      	
              Section
      2.2

            	
              Form
      of Face of Security.

            

    

    

    [INSERT
ANY LEGEND REQUIRED BY THE INTERNAL REVENUE CODE AND THE REGULATIONS
THEREUNDER.]

    

    OCCULOGIX,
INC.

    

    
      
        

      

    

     

    
      
        	
                NO.
      ___________

              	
                $__________

              

      

    

    

    CUSIP:__________

    

    OccuLogix,
Inc., a corporation duly organized and existing under the laws of Delaware
(herein called the “Company,” which term includes any successor Person under the
Indenture hereinafter referred to), for value received, hereby promises to pay
to , or registered assigns, the principal sum of ____ dollars on _______ [if the Security is to bear interest
prior to Maturity, insert — , and to pay interest thereon from ______ or
from the most recent Interest Payment Date to which interest has been paid or
duly provided for, semi-annually on _______ and ________ in each year,
commencing , at the rate of ____% per annum, until the principal hereof is paid
or made available for payment [if applicable, insert — ,
provided that any principal and premium, and any such installment of interest,
which is overdue shall bear interest at the rate of ____% per annum (to the
extent that the payment of such interest shall be legally enforceable), from the
dates such amounts are due until they are paid or made available for payment,
and such interest shall be payable on demand].  The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in such Indenture, be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of
business on the Regular Record Date for such interest, which shall be the _____
or ______ (whether or not a Business Day), as the case may be, next preceding
such Interest Payment Date.  Any such interest not so punctually paid
or duly provided for will forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of
business on a Special Record Date for the payment of such Defaulted Interest to
be fixed by the Trustee, notice whereof shall be given to Holders of Securities
of this series not less than 10 days prior to such Special Record Date, or be
paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Securities of this series
may be listed, and upon such notice as may be required by such exchange, all as
more fully provided in said Indenture].

    
      
         

      

      
        -14-

        
          

        

      

      
         

      

    

    [If the Security is not to bear
interest prior to Maturity, insert — The principal of this Security shall
not bear interest except in the case of a default in payment of principal upon
acceleration, upon redemption or at Stated Maturity and in such case the overdue
principal and any overdue premium shall bear interest at the rate of __________%
per annum (to the extent that the payment of such interest shall be legally
enforceable), from the dates such amounts are due until they are paid or made
available for payment.  Interest on any overdue principal or premium
shall be payable on demand.  [Any such interest on overdue principal
or premium which is not paid on demand shall bear interest at the rate of
______% per annum (to the extent that the payment of such interest on interest
shall be legally enforceable), from the date of such demand until the amount so
demanded is paid or made available for payment.  Interest on any
overdue interest shall be payable on demand.]]

    

    Payment
of the principal of (and premium, if any) and [if applicable, insert — any such]
interest on this Security will be made at the office or agency of the Company
maintained for that purpose in _________, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts [if applicable, insert —; provided, however, that at
the option of the Company payment of interest may be made by check mailed to the
address of the Person entitled thereto as such address shall appear in the
Security Register].

    

    Reference
is hereby made to the further provisions of this Security set forth on the
reverse hereof, which further provisions shall for all purposes have the same
effect as if set forth at this place.

    

    Unless
the certificate of authentication hereon has been executed by the Trustee
referred to on the reverse hereof by manual signature, this Security shall not
be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

    

    IN
WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

    

    
      
        
          
            
              	
                      Dated:

                    	
                      OCCULOGIX,
      INC.

                    
	 
      	 
      	 
      
	 
      	
                      By:

                    	 
      
	 
      	 
      	 
      
	 
      	
                      Title:

                    	 
      

            

          

        

      

    

    
      
         

      

      
        -15-

        
          

        

      

      
         

      

    

    ATTEST:

     

    
      
        
          
            
              
                
                  
                    
                      	 
      	
                               

                            

                    

                  

                

              

            

          

        

      

    

     

    
      	
              Section
      2.3

            	
              Form
      of Reverse of Security.

            

    

    

    This
Security is one of a duly authorized issue of securities of the Company (herein
called the “Securities”), issued and to be issued in one or more series under an
Indenture, dated as of _____, 20___ (herein called the “Indenture,” which term
shall have the meaning assigned to it in such instrument), between the Company
and _______, as Trustee (herein called the “Trustee,” which term includes any
successor trustee under the Indenture), and reference is hereby made to the
Indenture and all indentures supplemental thereto for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of
the Company, the Trustee, the holders of Senior Debt and the Holders of the
Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered.  This Security is one of the series
designated on the face hereof [if applicable, insert — ,
limited in aggregate principal amount to $______].

    

    [If applicable, insert — The
Securities of this series are subject to redemption upon not less than [if
applicable, insert — 30] days’ notice by mail, [if applicable, insert — (1)
on  in any year commencing with the year  and ending with
the year  through operation of the sinking fund for this series at a
Redemption Price equal to 100% of the principal amount, and (2)] at any time [if
applicable, insert — on or after , 20], as a whole or in part, at the election
of the Company, at the following Redemption Prices (expressed as percentages of
the principal amount): If redeemed [if applicable, insert — on or
before , ____%, and if redeemed] during the 12-month period
beginning  of the years indicated,

    

    
      
        
          	
                  
                    Year

                  

                	 
      	
                  
                    Redemption Price

                  

                	 
      	
                  
                    Year

                  

                	 
      	
                  
                    Redemption Price

                  

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      

        

      

    

    

    and
thereafter at a Redemption Price equal to ____% of the principal amount,
together in the case of any such redemption [if applicable, insert —
(whether through operation of the sinking fund or otherwise)] with accrued
interest to the Redemption Date, but interest installments whose Stated Maturity
is on or prior to such Redemption Date will be payable to the Holders of such
Securities, or one or more Predecessor Securities, of record at the close of
business on the relevant Record Dates referred to on the face hereof, all as
provided in the Indenture.]

    

    [If applicable, insert —The
Securities of this series are subject to redemption upon not less than [if
applicable, insert — 30] days’ notice by mail, (1) on  in any year
commencing with the year  and ending with the year  through
operation of the sinking fund for this series at the Redemption Prices for
redemption through operation of the sinking fund (expressed as percentages of
the principal amount) set forth in the table below, and (2) at any time [if applicable, insert — on or
after ], as a whole or in part, at the election of the Company, at the
Redemption Prices for redemption otherwise than through operation of the sinking
fund (expressed as percentages of the principal amount) set forth in the table
below: If redeemed during the 12-month period beginning  of the years
indicated,

     

    
      
        	
                
                  Year

                

              	 
      	
                
                  Redemption Price for Redemption Through Operation
      of the Sinking Fund

                

              	 
      	
                
                  Redemption Price for Redemption Otherwise than
      Through Operation of the Sinking Fund

                

              
	 
      	 
      	 
      	 
      	 
      

      

    

    
      
         

      

      
        -16-

        
          

        

      

      
         

      

    

    and
thereafter at a Redemption Price equal to ________% of the principal amount,
together in the case of any such redemption (whether through operation of the
sinking fund or otherwise) with accrued interest to the Redemption Date, but
interest installments whose Stated Maturity is on or prior to such Redemption
Date will be payable to the Holders of such Securities, or one or more
Predecessor Securities, of record at the close of business on the relevant
Record Dates referred to on the face hereof, all as provided in the
Indenture.]

    

    [If applicable, insert —
Notwithstanding the foregoing, the Company may not, prior to , redeem any
Securities of this series as contemplated by [if applicable, insert —
clause (2) of] the preceding paragraph as a part of, or in anticipation of, any
refunding operation by the application, directly or indirectly, of moneys
borrowed having an interest cost to the Company (calculated in accordance with
generally accepted financial practice) of less than ____% per
annum.]

    

    [If applicable, insert — The
sinking fund for this series provides for the redemption on , in each year
beginning with the year  and ending with the year  of [if applicable, insert — not
less than $______ (“mandatory sinking fund”) and not more than] $_____ aggregate
principal amount of Securities of this series.  Securities of this
series acquired or redeemed by the Company otherwise than through [if applicable, insert —
mandatory] sinking fund payments may be credited against subsequent [if applicable, insert —
mandatory] sinking fund payments otherwise required to be made if applicable,
insert —, in the inverse order in which they become due].]

    

    [If the Security is subject to
redemption of any kind, insert — In the event of redemption of this
Security in part only, a new Security or Securities of this series and of like
tenor for the unredeemed portion hereof will be issued in the name of the Holder
hereof upon the cancellation hereof.]

    

    [If applicable, insert — The
Indenture contains provisions for defeasance at any time of [the entire
indebtedness of this Security] [or] [certain restrictive covenants and Events of
Default with respect to this Security] [, in each case] upon compliance with
certain conditions set forth in the Indenture.]

    

    [If
the Security is convertible into other securities of the Company, specify the
conversion features.]

    

    The
indebtedness evidenced by this Security is, to the extent and in the manner
provided in the Indenture, subordinate and subject in right of payment to the
prior payment in full of all Senior Debt of the Company, and this Security is
issued subject to such provisions of the Indenture with respect
thereto.  Each Holder of this Security, by accepting the same, (a)
agrees to and shall be bound by such provisions, (b) authorizes and directs the
Trustee on his behalf to take such action as may be necessary or appropriate to
effectuate the subordination so provided and (c) appoints the Trustee his
attorney-in-fact for any and all such purposes.

    

    [If the Security is not an Original
Issue Discount Security, insert — If an Event of Default with respect to
Securities of this series shall occur and be continuing, the principal of the
Securities of this series may be declared due and payable in the manner and with
the effect provided in the Indenture.]

    

    [If the Security is an Original Issue
Discount Security, insert — If an Event of Default with respect to
Securities of this series shall occur and be continuing, an amount of principal
of the Securities of this series may be declared due and payable in the manner
and with the effect provided in the Indenture.  Such amount shall be
equal to — insert formula for
determining the amount.  Upon payment (i) of the amount of
principal so declared due and payable and (ii) of interest on any overdue
principal, premium and interest (in each case to the extent that the payment of
such interest shall be legally enforceable), all of the Company’s obligations in
respect of the payment of the principal of and premium and interest, if any, on
the Securities of this series shall terminate.]

    
      
         

      

      
        -17-

        
          

        

      

      
         

      

    

    The
Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and
the rights of the Holders of the Securities of each series to be affected under
the Indenture at any time by the Company and the Trustee with the consent of the
Holders of more than 50% in principal amount of the Securities at the time
Outstanding of each series to be affected.  The Indenture also
contains provisions permitting the Holders of specified percentages in principal
amount of the Securities of each series at the time Outstanding, on behalf of
the Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences.  Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this
Security.

    

    As
provided in and subject to the provisions of the Indenture, the Holder of this
Security shall not have the right to institute any proceeding with respect to
the Indenture or for the appointment of a receiver or trustee or for any other
remedy thereunder, unless such Holder shall have previously given the Trustee
written notice of a continuing Event of Default with respect to the Securities
of this series, the Holders of not less than a majority in principal amount of
the Securities of this series at the time Outstanding shall have made written
request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee
shall not have received from the Holders of a majority in principal amount of
Securities of this series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60
days after receipt of such notice, request and offer of
indemnity.  The foregoing shall not apply to any suit instituted by
the Holder of this Security for the enforcement of any payment of principal
hereof or any premium or interest hereon on or after the respective due dates
expressed herein.

    

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

    

    As
provided in the Indenture and subject to certain limitations therein set forth,
the transfer of this Security is registrable in the Security Register, upon
surrender of this Security for registration of transfer at the office or agency
of the Company in any place where the principal of and any premium and interest
on this Security are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security
Registrar duly executed by, the Holder hereof or its attorney duly authorized in
writing, and thereupon one or more new Securities of this series and of like
tenor, of authorized denominations and for the same aggregate principal amount,
will be issued to the designated transferee or transferees.

    

    The
Securities of this series are issuable only in registered form without coupons
in denominations of $______ and any integral multiple thereof.  As
provided in the Indenture and subject to certain limitations therein set forth,
Securities of this series are exchangeable for a like aggregate principal amount
of Securities of this series and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same.

    
      
         

      

      
        -18-

        
          

        

      

      
         

      

    

    No
service charge shall be made for any such registration of transfer or exchange,
but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection therewith.

    

    Prior to
due presentment of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this Security is registered as the owner hereof for all purposes,
whether or not this Security be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.

    

    All terms
used in this Security that are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

    

    
      	
              Section
      2.4

            	
              Form
      of Legend for Global Securities.

            

    

    

    Unless
otherwise specified as contemplated by Section 3.1 for the Securities evidenced
thereby, every Global Security authenticated and delivered hereunder shall bear
a legend in substantially the following form:

    

    THIS
SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE
THEREOF.  THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A
SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE
THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE.

    

    
      	
              Section
      2.5

            	
              Form
      of Trustee’s Certificate of
Authentication.

            

    

    

    The
Trustee’s certificates of authentication shall be in substantially the following
form:

    

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

    

    
      
        
          
            
              
                
                  	 
      	 
      	 
      
	 
      	
                          as
      Trustee

                        
	 
      	 
      	 
      
	 
      	
                          By:

                        	 
      
	 
      	 
      	
                          Authorized
      Officer

                        

                

              

            

          

        

      

    

    

    
      	
              Section
      2.6

            	
              Form
      of Conversion Notice.

            

    

    

    Unless
otherwise as contemplated by Section 3.1, or in a supplemental indenture for the
Securities evidenced hereby, conversion notices shall be in substantially the
following form:

    

    To
OccuLogix, Inc.:

    
      
         

      

      
        -19-

        
          

        

      

      
         

      

    

    The
undersigned owner of this Security hereby irrevocably exercises the option to
convert this Security, or portion hereof (which is $1,000 or an integral
multiple thereof) below designated, into shares of Common Stock of the Company
in accordance with the terms of the Indenture referred to in this Security, and
directs that the shares issuable and deliverable upon the conversion, together
with any check in payment for fractional shares and any Securities representing
any unconverted principal amount hereof, be issued and delivered to the
registered holder hereof unless a different name has been indicated
below.  If shares are to be issued in the name of a person other than
the undersigned, the undersigned will pay all transfer taxes payable with
respect hereto.  Any amount required to be paid by the undersigned on
account of interest accompanies this Security.

    

    Principal
Amount to be Converted

    

    (in an
integral multiple of $1,000, if less than all):

    

    
      
        
          
            	
                    U.S.
      $

                  	 
      	 
      
	 
      	 
      	 
      
	
                    Dated:

                  	 
      	 
      

          

        

      

    

    

    
      
        
          	 
      	
                  Signature(s)
      must be guaranteed by an eligible guarantor institution (banks,
      stockbrokers, savings and loan associations and credit unions with
      membership in an approved signature guarantee medallion program) pursuant
      to Securities and Exchange Commission Rule 17Ad-15.

                
	 
      	 
      
	 
      	 
      
	 
      	
                  Signature
      Guaranty

                

        

      

    

    

    Fill in
for registration of shares of Common Stock and Security if to be issued
otherwise than to the registered Holder.

    

    
      
        
          
            
              	 
      	 
      	 
      
	
                      (Name)

                    	 
      	
                      Social
      Security or Other Taxpayer

                    
	 
      	 
      	
                      Identification
      Number

                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                      Please
      print Name and Address

                    	 
      	 
      
	
                      (including
      zip code)

                    	 
      	 
      

            

          

        

      

    

    

    [The
above conversion notice is to be modified, as appropriate, for conversion into
other securities or property of the Company.]

    

    ARTICLE
3

    THE
SECURITIES

    

    
      	
              Section
      3.1

            	
              Amount
      Unlimited; Issuable in Series.

            

    

    
      
         

      

      
        -20-

        
          

        

      

      
         

      

    

    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.  There shall be established in or pursuant to a
Board Resolution and, subject to Section 3.3, set forth, or determined in the
manner provided, in an Officers’ Certificate, or established in one or more
indentures supplemental hereto, prior to the issuance of Securities of any
series,

    

    
      	
               
      

            	
              (1)

            	
              the
      title of the Securities of the series (which shall distinguish the
      Securities of the series from Securities of any other
    series);

            

    

    

    
      	
               
      

            	
              (2)

            	
              any
      limit upon the aggregate principal amount of the Securities of the series
      which may be authenticated and delivered under this Indenture (except for
      Securities authenticated and delivered upon registration of transfer of,
      or in exchange for, or in lieu of, other Securities of the series pursuant
      to Section 3.4, 3.5, 3.6, 9.6 or 11.7 and except for any Securities which,
      pursuant to Section 3.3, are deemed never to have been authenticated and
      delivered hereunder);

            

    

    

    
      	
               
      

            	
              (3)

            	
              the
      Person to whom any interest on a Security of the series shall be payable,
      if other than the Person in whose name that Security (or one or more
      Predecessor Securities) is registered at the close of business on the
      Regular Record Date for such
interest;

            

    

    

    
      	
               
      

            	
              (4)

            	
              the
      date or dates on which the principal of any Securities of the series is
      payable;

            

    

    

    
      	
               
      

            	
              (5)

            	
              the
      rate or rates (which may be fixed or variable) at which any Securities of
      the series shall bear interest, if any, the date or dates from which any
      such interest shall accrue, the Interest Payment Dates on which any such
      interest shall be payable and the Regular Record Date for any such
      interest payable on any Interest Payment Date (or the method for
      determining the dates and rates);

            

    

    

    
      	
               
      

            	
              (6)

            	
              the
      place or places where the principal of and any premium and interest on any
      Securities of the series shall be
payable;

            

    

    

    
      	
               
      

            	
              (7)

            	
              the
      period or periods within which, the price or prices at which and the terms
      and conditions upon which any Securities of the series may be redeemed, in
      whole or in part, at the option of the Company and, if other than by a
      Board Resolution, the manner in which any election by the Company to
      redeem the Securities shall be
evidenced;

            

    

    

    
      	
               
      

            	
              (8)

            	
              the
      obligation, if any, of the Company to redeem or purchase any Securities of
      the series pursuant to any sinking fund or analogous provisions or at the
      option of the Holder thereof and the period or periods within which, the
      price or prices at which and the terms and conditions upon which any
      Securities of the series shall be redeemed or purchased, in whole or in
      part, pursuant to such obligation;

            

    

    

    
      	
               
      

            	
              (9)

            	
              if
      other than denominations of $1,000 and any integral multiple thereof, the
      denominations in which any Securities of the series shall be
      issuable;

            

    

    
      
         

      

      
        -21-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (10)

            	
              if
      the amount of principal of or any premium or interest on any Securities of
      the series may be determined with reference to an index or pursuant to a
      formula, the manner in which such amounts shall be
    determined;

            

    

    

    
      	
               
      

            	
              (11)

            	
              if
      other than the currency of the United States of America, the currency,
      currencies or currency units in which the principal of or any premium or
      interest on any Securities of the series shall be payable and the manner
      of determining the equivalent thereof in the currency of the United States
      of America for any purpose, including for purposes of the definition of
      “Outstanding” in Section 1.1 and, whether the Company or the Holder
      thereof may elect payment to be made in a different
    currency;

            

    

    

    
      	
               
      

            	
              (12)

            	
              if
      the principal of or any premium or interest on any Securities of the
      series is to be payable, at the election of the Company or the Holder
      thereof, in one or more currencies or currency units other than that or
      those in which such Securities are stated to be payable, the currency,
      currencies or currency units in which the principal of or any premium or
      interest on such Securities as to which such election is made shall be
      payable, the periods within which and the terms and conditions upon which
      such election is to be made and the amount so payable (or the manner in
      which such amount shall be
determined);

            

    

    

    
      	
               
      

            	
              (13)

            	
              if
      other than the entire principal amount thereof, the portion of the
      principal amount of any Securities of the series which shall be payable
      upon declaration of acceleration of the Maturity thereof pursuant to
      Section 5.2;

            

    

    

    
      	
               
      

            	
              (14)

            	
              if
      the principal amount payable at the Stated Maturity of any Securities of
      the series will not be determinable as of any one or more dates prior to
      the Stated Maturity, the amount which shall be deemed to be the principal
      amount of such Securities as of any such date for any purpose thereunder
      or hereunder, including the principal amount thereof which shall be due
      and payable upon any Maturity other than the Stated Maturity or which
      shall be deemed to be Outstanding as of any date prior to the Stated
      Maturity (or, in any such case, the manner in which such amount deemed to
      be the principal amount shall be
determined);

            

    

    

    
      	
               
      

            	
              (15)

            	
              if
      applicable, that the Securities of the series, in whole or any specified
      part, shall be defeasible pursuant to Section 13.2 or Section 13.3 or both
      such Sections, or any other defeasance provisions applicable to any
      Securities of the series, and, if other than by a Board Resolution, the
      manner in which any election by the Company to defease such Securities
      shall be evidenced;

            

    

    

    
      	
               
      

            	
              (16)

            	
              if
      applicable, the terms of any right to convert or exchange Securities of
      the series into shares of Common Stock of the Company or other securities
      or property;

            

    

    

    
      	
               
      

            	
              (17)

            	
              if
      applicable, that any Securities of the series shall be issuable in whole
      or in part in the form of one or more Global Securities and, in such case,
      the respective Depositaries for such Global Securities, the form of any
      legend or legends which shall be borne by any such Global Security in
      addition to or in lieu of that set forth in Section 2.4 and any
      circumstances in addition to or in lieu of those set forth in clause (2)
      of the last paragraph of Section 3.5 in which any such Global Security may
      be exchanged in whole or in part for Securities registered, and any
      transfer of such Global Security in whole or in part may be registered, in
      the name or names of Persons other than the Depositary for such Global
      Security or a nominee thereof;

            

    

    
      
         

      

      
        -22-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (18)

            	
              any
      deletion of, addition to or change in the Events of Default which applies
      to any Securities of the series and any change in the right of the Trustee
      or the requisite Holders of such Securities to declare the principal
      amount thereof due and payable pursuant to Section
  5.2;

            

    

    

    
      	
               
      

            	
              (19)

            	
              any
      deletion of, addition to or change in the covenants set forth in Article
      10 which applies to Securities of the
series;

            

    

    

    
      	
               
      

            	
              (20)

            	
              any
      Authenticating Agents, Paying Agents, Security Registrars or such other
      agents necessary in connection with the issuance of the Securities of such
      series, including, without limitation, exchange rate agents and
      calculation agents;

            

    

    

    
      	
               
      

            	
              (21)

            	
              if
      applicable, the terms of any security that will be provided for a series
      of Securities, including provisions regarding the circumstances under
      which collateral may be released or
substituted;

            

    

    

    
      	
               
      

            	
              (22)

            	
              if
      applicable, the terms of any guaranties for the Securities and any
      circumstances under which there may be additional obligors on the
      Securities;

            

    

    

    
      	
               
      

            	
              (23)

            	
              any
      addition to or change in or modification to the subordination provisions
      of this Indenture relating to the Securities of that series (including the
      provisions of Article 15), or different subordination provisions,
      including a different definition of “Senior Debt” or “Designated Senior
      Debt,” will apply to Securities of the series;
  and

            

    

    

    
      	
               
      

            	
              (24)

            	
              any
      other terms of the series (which terms shall not be inconsistent with the
      provisions of this Indenture, except as permitted by Section
      9.1(5)).

            

    

    

    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 the Board
Resolution referred to above and (subject to Section 3.3) set forth, or
determined in the manner provided, in the Officers’ Certificate referred to
above or in any such indenture 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.

    

    The
Securities shall be subordinated in right of payment to Senior Debt as provided
in Article 15.

    

    
      	
              Section
      3.2

            	
              Denominations.

            

    

    

    The
Securities of each series shall be issuable only in registered form without
coupons and only in such denominations as shall be specified as contemplated by
Section 3.1.  In the absence of any such specified denomination with
respect to the Securities of any series, the Securities of such series shall be
issuable in denominations of $1,000 and any integral multiple
thereof.

    
      
         

      

      
        -23-

        
          

        

      

      
         

      

    

    
      	
              Section
      3.3

            	
              Execution,
      Authentication, Delivery and
Dating.

            

    

    

    The
Securities shall be executed on behalf of the Company by its Chairman of the
Board, its Vice Chairman of the Board, its Chief Executive Officer, its
principal financial officer, its President or one of its Vice Presidents,
attested by its Treasurer, its Secretary or one of its Assistant Treasurers or
Assistant Secretaries.  The signature of any of these officers on the
Securities may be manual or facsimile.

    

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

    

    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 Company Order for the authentication
and delivery of such Securities, and the Trustee in accordance with the Company
Order shall authenticate and deliver such Securities.  If the form or
terms of the Securities of the series have been established by or pursuant to
one or more Board Resolutions as permitted by Sections 2.1 and 3.1, in
authenticating such Securities, and accepting the additional responsibilities
under this Indenture in relation to such Securities, the Trustee shall be
entitled to receive, and (subject to Section 6.1) shall be fully protected in
relying upon, a copy of such Board Resolution, the Officers’ Certificate setting
forth the terms of the series and an Opinion of Counsel, with such Opinion of
Counsel stating,

    

    
      	
               
      

            	
              (1)

            	
              if
      the form of such Securities has been established by or pursuant to Board
      Resolution as permitted by Section 2.1, that such form has been
      established in conformity with the provisions of this
      Indenture;

            

    

    

    
      	
               
      

            	
              (2)

            	
              if
      the terms of such Securities have been established by or pursuant to Board
      Resolution as permitted by Section 3.1, that such terms have been
      established in conformity with the provisions of this Indenture;
      and

            

    

    

    
      	
               
      

            	
              (3)

            	
              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 constitute valid and legally
      binding obligations of the Company enforceable in accordance with their
      terms, subject to bankruptcy, insolvency, fraudulent transfer,
      reorganization, moratorium and similar laws of general applicability
      relating to or affecting creditors’ rights and to general equity
      principles.

            

    

    

    If such
form or terms have been so established, 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 which is not reasonably
acceptable to the Trustee.

    

    Notwithstanding
the provisions of Section 3.1 and of the preceding paragraph, if all Securities
of a series are not to be originally issued at one time, it shall not be
necessary to deliver the Officers’ Certificate otherwise required pursuant to
Section 3.1 or the Company Order and Opinion of Counsel otherwise required
pursuant to such preceding paragraph at or prior to the authentication of each
Security of such series if such documents are delivered at or prior to the
authentication upon original issuance of the first Security of such series to be
issued.

    
      
         

      

      
        -24-

        
          

        

      

      
         

      

    

    Each
Security shall be dated the date of its authentication.

    

    No
Security shall be entitled to any benefit under this Indenture or be valid or
obligatory for any purpose unless there appears on such Security a certificate
of authentication substantially in the form provided for herein executed by the
Trustee by manual signature, and such certificate upon any Security shall be
conclusive evidence, and the only evidence, that such Security has been duly
authenticated and delivered hereunder.  Notwithstanding the foregoing,
if any Security shall have been authenticated and delivered hereunder but never
issued and sold by the Company, and the Company shall deliver such Security to
the Trustee for cancellation as provided in Section 3.9, for all purposes of
this Indenture such Security shall be deemed never to have been authenticated
and delivered hereunder and shall never be entitled to the benefits of this
Indenture.

    

    Neither
the Company nor the Trustee shall have any responsibility for any defect in the
CUSIP number that appears on any Security, check, advice of payment or
redemption notice, and any such document may contain a statement to the effect
that CUSIP numbers have been assigned by an independent service for convenience
of reference and that neither the Company nor the Trustee shall be liable for
any inaccuracy in such numbers.

    

    
      	
              Section
      3.4

            	
              Temporary
      Securities.

            

    

    

    Pending
the preparation of definitive Securities of any series, the Company may execute,
and upon Company Order the Trustee shall authenticate and deliver, temporary
Securities which are printed, lithographed, typewritten, mimeographed or
otherwise produced, in any authorized denomination, substantially of the tenor
of the definitive Securities in lieu of which they are issued and with such
appropriate insertions, omissions, substitutions and other variations as the
officers executing such Securities may determine, as evidenced by their
execution of such Securities.

    

    If
temporary Securities of any series are issued, the Company will cause definitive
Securities of that series to be prepared without unreasonable
delay.  After the preparation of definitive Securities of such series,
the temporary Securities of such series shall be exchangeable for definitive
Securities of such series upon surrender of the temporary Securities of such
series at the office or agency of the Company in a Place of Payment for that
series, without charge to the Holder.  Upon surrender for cancellation
of any one or more temporary Securities of any series, the Company shall execute
and the Trustee shall authenticate and deliver in exchange therefor one or more
definitive Securities of the same series, of any authorized denominations and of
like tenor and aggregate principal amount.  Until so exchanged, the
temporary Securities of any series shall in all respects be entitled to the same
benefits under this Indenture as definitive Securities of such series and
tenor.

    

    
      	
              Section
      3.5

            	
              Registration;
      Registration of Transfer and
Exchange.

            

    

    

    The
Company shall cause to be kept at the Corporate Trust Office of the Trustee a
register (the register maintained in such office and in any other office or
agency of the Company in a Place of Payment being herein sometimes collectively
referred to as the “Security Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall provide for the registration
of Securities and of transfers of Securities.  The Trustee is hereby
appointed “Security Registrar” for the purpose of registering Securities and
transfers of Securities as herein provided.

    
      
         

      

      
        -25-

        
          

        

      

      
         

      

    

    Upon
surrender for registration of transfer of any Security of a series at the office
or agency of the Company in a Place of Payment for that series, the Company
shall execute, and the Trustee shall authenticate and deliver, in the name of
the designated transferee or transferees, one or more new Securities of the same
series, of any authorized denominations and of like tenor and aggregate
principal amount.

    

    At the
option of the Holder, Securities of any series may be exchanged for other
Securities of the same series, of any authorized denominations and of like tenor
and aggregate principal amount, upon surrender of the Securities to be exchanged
at such office or agency.  Whenever any Securities are so surrendered
for exchange, the Company shall execute, and the Trustee shall authenticate and
deliver, the Securities that the Holder making the exchange is entitled to
receive.

    

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

    

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

    

    No
service charge shall be made for any registration of transfer or exchange of
Securities, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in connection with any
registration of transfer or exchange of Securities, other than exchanges
pursuant to Section 3.4, 9.6 or 11.7 not involving any transfer.

    

    If the
Securities of any series (or of any series and specified tenor) are to be
redeemed in part, the Company shall not be required (A) to issue, register the
transfer of or exchange any Securities of that series (or of that series and
specified tenor, as the case may be) during a period beginning at the opening of
business 15 days before the day of the mailing of a notice of redemption of any
such Securities selected for redemption under Section 11.3 and ending at the
close of business on the day of such mailing, or (B) to register the transfer of
or exchange any Security so selected for redemption in whole or in part, except
the unredeemed portion of any Security being redeemed in part.

    

    The
provisions of clauses (1), (2), (3) and (4) below shall apply only to Global
Securities:

    

    
      	
               
      

            	
              (1)

            	
              Each
      Global Security authenticated under this Indenture shall be registered in
      the name of the Depositary designated for such Global Security or a
      nominee thereof and delivered to such Depositary or a nominee thereof or
      custodian therefor, and each such Global Security shall constitute a
      single Security for all purposes of this
  Indenture.

            

    

    

    
      	
               
      

            	
              (2)

            	
              Notwithstanding
      any other provision in this Indenture, no Global Security may be exchanged
      in whole or in part for Securities registered, and no transfer of a Global
      Security in whole or in part may be registered, in the name of any Person
      other than the Depositary for such Global Security or a nominee thereof
      unless (A) such Depositary (i) has notified the Company that it is
      unwilling or unable to continue as Depositary for such Global Security or
      (ii) has ceased to be a clearing agency registered under the Exchange Act,
      (B) there shall have occurred and be continuing an Event of Default with
      respect to such Global Security or (C) there shall exist such
      circumstances, if any, in addition to or in lieu of the foregoing as have
      been specified for this purpose as contemplated by Section
      3.1.

            

    

    
      
         

      

      
        -26-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (3)

            	
              Subject
      to clause (2) above, any exchange of a Global Security for other
      Securities may be made in whole or in part, and all Securities issued in
      exchange for a Global Security or any portion thereof shall be registered
      in such names as the Depositary for such Global Security shall
      direct.

            

    

    

    
      	
               
      

            	
              (4)

            	
              Every
      Security authenticated and delivered upon registration of transfer of, or
      in exchange for or in lieu of, a Global Security or any portion thereof,
      whether pursuant to this Section, Section 3.4, 3.6, 9.6 or 11.7 or
      otherwise, shall be authenticated and delivered in the form of, and shall
      be, a Global Security, unless such Security is registered in the name of a
      Person other than the Depositary for such Global Security or a nominee
      thereof.

            

    

    

    
      	
              Section
      3.6

            	
              Mutilated,
      Destroyed, Lost and Stolen
Securities.

            

    

    

    If any
mutilated Security is surrendered to the Trustee, the Company shall execute and
the Trustee shall authenticate and deliver in exchange therefor a new Security
of the same series and of like tenor and principal amount and bearing a number
not contemporaneously outstanding.

    

    If there
shall be delivered to the Company and the Trustee (i) evidence to their
satisfaction of the destruction, loss or theft of any Security and (ii) such
security or indemnity as may be required by them to save each of them and any
agent of either of them harmless, then, in the absence of notice to the Company
or the Trustee that such Security has been acquired by a bona fide purchaser,
the Company shall execute and the Trustee shall authenticate and deliver, in
lieu of any such destroyed, lost or stolen Security, a new Security of the same
series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding.

    

    In case
any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a
new Security, pay such Security.

    

    Upon the
issuance of any new Security under this Section, the Company may require the
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in relation thereto and any other expenses (including the fees
and expenses of the Trustee) connected therewith.

    

    Every new
Security of any series issued pursuant to this Section in lieu of any destroyed,
lost or stolen Security shall constitute an original additional contractual
obligation of the Company, whether or not the destroyed, lost or stolen Security
shall be at any time enforceable by anyone, and shall be entitled to all the
benefits of this Indenture equally and proportionately with any and all other
Securities of that series duly issued hereunder.

    

    The
provisions of this Section are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment
of mutilated, destroyed, lost or stolen Securities.

    
      
         

      

      
        -27-

        
          

        

      

      
         

      

    

    
      	
              Section
      3.7

            	
              Payment
      of Interest; Interest Rights
Preserved.

            

    

    

    Except as
otherwise provided as contemplated by Section 3.1 with respect to any series of
Securities or in a supplemental indenture with respect to any series of
Securities, interest on any Security which is payable, and is punctually paid or
duly provided for, on any Interest Payment Date shall be paid to the Person in
whose name that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such
interest.

    

    Any
interest on any Security of any series which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the Holder on the
relevant Regular Record Date by virtue of having been such Holder, and such
Defaulted Interest may be paid by the Company, at its election in each case, as
provided in clause (1) or (2) below:

    

    
      	
               
      

            	
              (1)

            	
              The
      Company may elect to make payment of any Defaulted Interest to the Persons
      in whose names the Securities of such series (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 Security of such series 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 be not more than
      15 days and not less than 10 days prior to the date of the proposed
      payment and not less than 10 days after 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 given to
      each Holder of Securities of such series in the manner set forth in
      Section 1.6, not less than 10 days prior to such Special Record
      Date.  Notice of the proposed payment of such Defaulted Interest
      and the Special Record Date therefor having been so mailed, such Defaulted
      Interest shall be paid to the Persons in whose names the Securities of
      such series (or their respective Predecessor Securities) are registered at
      the close of business on such Special Record Date and shall no longer be
      payable pursuant to the following clause
(2).

            

    

    

    
      	
               
      

            	
              (2)

            	
              The
      Company may make payment of any Defaulted Interest on the Securities of
      any series 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.

            

    

    

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

    
      
         

      

      
        -28-

        
          

        

      

      
         

      

    

    
      	
              Section
      3.8

            	
              Persons
      Deemed Owners.

            

    

    

    Prior to
due presentment of a Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name such Security is registered as the owner of such Security for the
purpose of receiving payment of principal of and any premium and (subject to
Section 3.7) any interest on such Security and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company,
the Trustee nor any agent of the Company or the Trustee shall be affected by
notice to the contrary.

    

    
      	
              Section
      3.9

            	
              Cancellation.

            

    

    

    All
Securities surrendered for payment, redemption, registration of transfer or
exchange or for credit against any sinking fund payment shall, if surrendered to
any Person other than the Trustee, be delivered to the Trustee and shall be
promptly canceled by it.  The Company may at any time deliver to the
Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and may
deliver to the Trustee (or to any other Person for delivery to the Trustee) for
cancellation any Securities previously authenticated hereunder which the Company
has not issued and sold, and all Securities so delivered shall be promptly
canceled by the Trustee.  No Securities shall be authenticated in lieu
of or in exchange for any Securities canceled as provided in this Section,
except as expressly permitted by this Indenture.  All canceled
Securities held by the Trustee shall be disposed of in accordance with its
customary procedures.

    

    
      	
              Section
      3.10

            	
              Computation
      of Interest.

            

    

    

    Except as
otherwise specified as contemplated by Section 3.1 for Securities of any series,
interest on the Securities of each series shall be computed on the basis of a
360-day year of twelve 30-day months.

    

    ARTICLE
4

    SATISFACTION
AND DISCHARGE

    

    
      	
              Section
      4.1

            	
              Satisfaction
      and Discharge of Indenture.

            

    

    

    This
Indenture shall upon Company Request cease to be of further effect (except as to
any surviving rights of registration of transfer or exchange of Securities
herein expressly provided for), and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging satisfaction and discharge of
this Indenture, when

    

    
      	
               
      

            	
              (1)

            	
              either

            

    

    

    
      	
               
      

            	
              (A)

            	
              all
      Securities theretofore authenticated and delivered (other than (i)
      Securities which have been destroyed, lost or stolen and which have been
      replaced or paid as provided in Section 3.6 and (ii) Securities for whose
      payment money has theretofore been deposited in trust or segregated and
      held in trust by the Trustee or the Company and thereafter repaid to the
      Company or discharged from such trust, as provided in Section 10.3) have
      been delivered to the Trustee for cancellation;
  or

            

    

    
      
         

      

      
        -29-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (B)

            	
              all
      such Securities not theretofore delivered to the Trustee for
      cancellation

            

    

    

    
      	
               
      

            	
              (i)

            	
              have
      become due and payable, or

            

    

    

    
      	
               
      

            	
              (ii)

            	
              will
      become due and payable at their Stated Maturity within one year,
      or

            

    

    

    
      	
               
      

            	
              (iii)

            	
              are
      to be called for redemption within one year under arrangements
      satisfactory to the Trustee for the giving of notice of redemption by the
      Trustee in the name, and at the expense, of the
  Company,

            

    

    

    and the
Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be
deposited with the Trustee as trust funds in trust for the purpose money in an
amount sufficient to pay and discharge the entire indebtedness on such
Securities not theretofore delivered to the Trustee for cancellation, for
principal and any premium and interest to the date of such deposit (in the case
of Securities which have become due and payable) or to the Stated Maturity or
Redemption Date, as the case may be;

    

    
      	
               
      

            	
              (2)

            	
              the
      Company has paid or caused to be paid all other sums payable hereunder by
      the Company; and

            

    

    

    
      	
               
      

            	
              (3)

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

            

    

    

    Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company
to the Trustee under Section 6.7, the obligations of the Trustee to any
Authenticating Agent under Section 6.14 and, if money shall have been deposited
with the Trustee pursuant to subclause (B) of clause (1) of this Section, the
obligations of the Trustee under Section 4.2 and the last paragraph of Section
10.3 shall survive.

    

    
      	
              Section
      4.2

            	
              Application
      of Trust Money.

            

    

    

    Subject
to the provisions of the last paragraph of Section 10.3, all money deposited
with the Trustee pursuant to Section 4.1 shall be held in trust and applied by
it, in accordance with the provisions of the Securities and this Indenture, to
the payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Persons
entitled thereto, of the principal and any premium and interest for whose
payment such money has been deposited with the Trustee.

    

    ARTICLE
5

    REMEDIES

    

    
      	
              Section
      5.1

            	
              Events
      of Default.

            

    

    

    “Event of
Default,” wherever used herein with respect to Securities of any series, means
any one of the following events (whatever the reason for such Event of Default
and whether it shall be occasioned by the provisions of Article 15 or be
voluntary or involuntary or be effected by operation of law or pursuant to any
judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body), unless in the Board Resolution,
supplemental indenture or Officers’ Certificate establishing such series, it is
provided that such series shall not have the benefit of said Event of
Default:

    
      
         

      

      
        -30-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (1)

            	
              default
      in the payment of any interest upon any Security of that series when it
      becomes due and payable, and continuance of such default for a period of
      30 days; or

            

    

    

    
      	
               
      

            	
              (2)

            	
              default
      in the payment of the principal of or any premium on any Security of that
      series at its Maturity; or

            

    

    

    
      	
               
      

            	
              (3)

            	
              default
      in the deposit of any sinking fund payment, when and as due by the terms
      of a Security of that series; or

            

    

    

    
      	
               
      

            	
              (4)

            	
              default
      in the performance, or breach, of any covenant or warranty of the Company
      in this Indenture (other than a covenant or warranty a default in whose
      performance or whose breach is elsewhere in this Section specifically
      dealt with or which has expressly been included in this Indenture solely
      for the benefit of series of Securities other than that series), and
      continuance of such default or breach for a period of 90 days after there
      has been given, by registered or certified mail, to the Company by the
      Trustee or to the Company and the Trustee by the Holders of at least 25%
      in principal amount of the Outstanding Securities of that series a written
      notice specifying such default or breach and requiring it to be remedied
      and stating that such notice is a “Notice of Default” hereunder;
      or

            

    

    

    
      	
               
      

            	
              (5)

            	
              the
      entry by a court having jurisdiction in the premises of (A) a decree or
      order for relief in respect of the Company in an involuntary case or
      proceeding under any applicable Federal or State bankruptcy, insolvency,
      reorganization or other similar law or (B) a decree or order adjudging the
      Company a bankrupt or insolvent, or approving as properly filed a petition
      seeking reorganization, arrangement, adjustment or composition of or in
      respect of the Company under any applicable Federal or State law, or
      appointing a custodian, receiver, liquidator, assignee, trustee,
      sequestrator or other similar official of the Company or of any
      substantial part of its property, or ordering the winding up or
      liquidation of its affairs, and the continuance of any such decree or
      order for relief or any such other decree or order unstayed and in effect
      for a period of 90 consecutive days;
or

            

    

    

    
      	
               
      

            	
              (6)

            	
              the
      commencement by the Company of a voluntary case or proceeding under any
      applicable Federal or State bankruptcy, insolvency, reorganization or
      other similar law or of any other case or proceeding to be adjudicated a
      bankrupt or insolvent, or the consent by it to the entry of a decree or
      order for relief in respect of the Company in an involuntary case or
      proceeding under any applicable Federal or State bankruptcy, insolvency,
      reorganization or other similar law or to the commencement of any
      bankruptcy or insolvency case or proceeding against it, or the filing by
      it of a petition or answer or consent seeking reorganization or relief
      under any applicable Federal or State law, or the consent by it to the
      filing of such petition or to the appointment of or taking possession by a
      custodian, receiver, liquidator, assignee, trustee, sequestrator or other
      similar official of the Company or of any substantial part of its
      property, or the making by it of an assignment for the benefit of
      creditors, or the admission by it in writing of its inability to pay its
      debts generally as they become due, or the taking of corporate action by
      the Company in furtherance of any such action;
  or

            

    

    
      
         

      

      
        -31-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (7)

            	
              any
      other Event of Default provided with respect to Securities of that series
      in the Board Resolution, supplemental indenture or Officers’ Certificate
      establishing that series.

            

    

    

    
      	
              Section
      5.2

            	
              Acceleration
      of Maturity; Rescission and
Annulment.

            

    

    

    Unless
the Board Resolution, supplemental indenture or Officers’ Certificate
establishing such series provides otherwise, if an Event of Default (other than
an Event of Default specified in Section 5.1(5) or 5.1(6)) with respect to
Securities of any series at the time Outstanding occurs and is continuing, then
in every such case the Trustee or the Holders of not less than 25% in principal
amount of the Outstanding Securities of that series may declare the principal
amount of all the Securities of that series (or, if any Securities of that
series are Original Issue Discount Securities, such portion of the principal
amount of such Securities as may be specified by the terms thereof), and
premium, if any, together with accrued and unpaid interest, if any, thereon, to
be due and payable immediately, by a notice in writing to the Company (and to
the Trustee if given by the Holders), and upon any such declaration such
principal amount (or specified amount), and premium, if any, together with
accrued and unpaid interest, if any, thereon, shall become immediately due and
payable.  If an Event of Default specified in Section 5.1(5) or 5.1(6)
with respect to Securities of any series at the time Outstanding occurs, the
principal amount of all the Securities of that series (or, if any Securities of
that series are Original Issue Discount Securities, such portion of the
principal amount of such Securities as may be specified by the terms thereof),
and premium, if any, together with accrued and unpaid interest, if any, thereon,
shall automatically, and without any declaration or other action on the part of
the Trustee or any Holder, become immediately due and payable.  Any
payments by the Company on the Securities following any such acceleration will
be subject to the subordination provisions of Article 15 to the extent provided
therein.

    

    At any
time after such a declaration of acceleration with respect to Securities of any
series has been made and before a judgment or decree for payment of the money
due has been obtained by the Trustee as hereinafter in this Article provided,
the Holders of a majority in principal amount of the Outstanding Securities of
that series, by written notice to the Company and the Trustee, may rescind and
annul such declaration and its consequences if

    

    
      	
               
      

            	
              (1)

            	
              the
      Company has paid or deposited with the Trustee a sum sufficient to
      pay

            

    

    

    
      	
               
      

            	
              (A)

            	
              all
      overdue interest on all Securities of that
  series,

            

    

    

    
      	
               
      

            	
              (B)

            	
              the
      principal of (and premium, if any, on) any Securities of that series which
      have become due otherwise than by such declaration of acceleration and any
      interest thereon at the rate or rates prescribed therefor in such
      Securities,

            

    

    

    
      	
               
      

            	
              (C)

            	
              to
      the extent that payment of such interest is lawful, interest upon overdue
      interest at the rate or rates prescribed therefor in such Securities,
      and

            

    

    

    
      	
               
      

            	
              (D)

            	
              all
      sums paid or advanced by the Trustee hereunder and the reasonable
      compensation, expenses, disbursements and advances of the Trustee, its
      agents and counsel; and

            

    

    
      
         

      

      
        -32-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (2)

            	
              all
      Events of Default with respect to Securities of that series, other than
      the non-payment of the principal of Securities of that series that have
      become due solely by such declaration of acceleration, have been cured or
      waived as provided in Section 5.13.

            

    

    

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

    

    
      	
              Section
      5.3

            	
              Collection
      of Indebtedness and Suits for Enforcement by
  Trustee.

            

    

    

    The
Company covenants that if

    

    
      	
               
      

            	
              (1)

            	
              default
      is made in the payment of any interest on any Security when such interest
      becomes due and payable and such default continues for a period of 30
      days, or

            

    

    

    
      	
               
      

            	
              (2)

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

            

    

    

    the
Company will, upon demand of the Trustee, pay to it, for the benefit of the
Holders of such Securities, the whole amount then due and payable on such
Securities for principal and any premium and interest and, to the extent that
payment of such interest shall be legally enforceable, interest on any overdue
principal and premium and on any overdue interest, at the rate or rates
prescribed therefor in such Securities, and, in addition thereto, such further
amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel.

    

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

    

    
      	
              Section
      5.4

            	
              Trustee
      May File Proofs of Claim.

            

    

    

    In case
of any judicial proceeding relative to the Company (or any other obligor upon
the Securities), its property or its creditors, the Trustee shall be entitled
and empowered, by intervention in such proceeding or otherwise, to take any and
all actions authorized under the Trust Indenture Act in order to have claims of
the Holders and the Trustee allowed in any such proceeding.  In
particular, the Trustee shall be authorized to collect and receive any moneys or
other property payable or deliverable on any such claims and to distribute the
same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator
or other similar official in any such judicial proceeding is hereby authorized
by each Holder to make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders, to
pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other
amounts due the Trustee under Section 6.7.  No provision of this
Indenture shall be deemed to authorize the Trustee to authorize or consent to or
accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder
thereof or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding; provided, however, that the Trustee may, on
behalf of the Holders, vote for the election of a trustee in bankruptcy or
similar official and be a member of a creditors’ or other similar
committee.

    
      
         

      

      
        -33-

        
          

        

      

      
         

      

    

    
      	
              Section
      5.5

            	
              Trustee
      May Enforce Claims Without Possession of
  Securities.

            

    

    

    All
rights of action and claims under this Indenture or the Securities may be
prosecuted and enforced by the Trustee without the possession of any of the
Securities or the production thereof in any proceeding relating thereto, and any
such proceeding instituted by the Trustee shall be brought in its own name as
trustee of an express trust, and any recovery of judgment shall, after provision
for the payment of the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, be for the ratable benefit of
the Holders of the Securities in respect of which such judgment has been
recovered.

    

    
      	
              Section
      5.6

            	
              Application
      of Money Collected.

            

    

    

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

    

    FIRST: To
the payment of all amounts due the Trustee under Section 6.7;

    

    SECOND:
Subject to Article 15, to the payment of the amounts then due and unpaid for
principal of and any premium, if any, and interest on the Securities 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 any premium, if any, and interest,
respectively; and

    

    THIRD:
The balance, if any, to the Company or any other Person or Persons entitled
thereto.

    

    
      	
              Section
      5.7

            	
              Limitation
      on Suits.

            

    

    

    No Holder
of any Security of any series shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of
a receiver or trustee, or for any other remedy hereunder, unless

    

    
      	
               
      

            	
              (1)

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

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      Holders of at least a majority in aggregate principal amount of the
      Outstanding Securities of that series shall have made written request to
      the Trustee to institute proceedings in respect of such Event of Default
      in its own name as Trustee
hereunder;

            

    

    

    
      	
               
      

            	
              (3)

            	
              such
      Holder or Holders have offered to the Trustee reasonable indemnity against
      the costs, expenses and liabilities to be incurred in compliance with such
      request;

            

    

    

    
      	
               
      

            	
              (4)

            	
              the
      Trustee for 60 days after its receipt of such notice, request and offer of
      indemnity has failed to institute any such proceeding;
  and

            

    

    

    
      	
               
      

            	
              (5)

            	
              no
      direction inconsistent with such written request has been given to the
      Trustee during such 60-day period by the Holders of a majority in
      principal amount of the Outstanding Securities of that
    series;

            

    

    
      
         

      

      
        -34-

        
          

        

      

      
         

      

    

    it being
understood and intended that no one or more of such Holders shall have any right
in any manner whatever by virtue of, or by availing of, any provision of this
Indenture to affect, disturb or prejudice the rights of any other of such
Holders, or to obtain or to seek to obtain priority or preference over any other
of such Holders or to enforce any right under this Indenture, except in the
manner herein provided and for the equal and ratable benefit of all of such
Holders.

    

    Section
5.8            Unconditional
Right of Holders to Receive Principal, Premium and Interest and to
Convert.

    

    Notwithstanding
any other provision in this Indenture, the Holder of any Security shall have the
right, which is absolute and unconditional, to receive payment of the principal
of and any premium and (subject to Section 3.7) interest on such Security on the
respective Stated Maturities expressed in such Security (or, in the case of
redemption, on the Redemption Date), to convert such Securities in accordance
with Article 14 to the extent that such right to convert is applicable to such
Security, and to institute suit for the enforcement of any such payment, and
such rights shall not be impaired without the consent of such
Holder.

    

    
      	
              Section
      5.9

            	
              Restoration
      of Rights and Remedies.

            

    

    

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

    

    
      	
              Section
      5.10

            	
              Rights
      and Remedies Cumulative.

            

    

    

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

    

    
      	
              Section
      5.11

            	
              Delay
      or Omission Not Waiver.

            

    

    

    No delay
or omission of the Trustee or of any Holder of any Securities to exercise any
right or remedy accruing upon any Event of Default shall impair any such right
or remedy or constitute a waiver of any such Event of Default or an acquiescence
therein.  Every right and remedy given by this Article or by law to
the Trustee or to the Holders may be exercised from time to time, and as often
as may be deemed expedient, by the Trustee (subject to the limitations contained
in this Indenture) or by the Holders, as the case may be.

    

    
      	
              Section
      5.12

            	
              Control
      by Holders.

            

    

    
      
         

      

      
        -35-

        
          

        

      

      
         

      

    

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

    

    
      	
               
      

            	
              (1)

            	
              such
      direction shall not be in conflict with any rule of law or with this
      Indenture and the Trustee shall not have determined that the action so
      directed would be unjustly prejudicial to Holders of Securities of that
      series, or any other series, not taking part in such direction;
      and

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      Trustee may take any other action deemed proper by the Trustee that is not
      inconsistent with such direction or this
  Indenture.

            

    

    

    
      	
              Section
      5.13

            	
              Waiver
      of Past Defaults.

            

    

    

    The
Holders of not less than a majority in principal amount of the Outstanding
Securities of any series may on behalf of the Holders of all the Securities of
such series waive any past default hereunder with respect to such series and its
consequences, except

    

    
      	
               
      

            	
              (1)

            	
              a
      default in the payment of the principal of or any premium or interest on
      any Security of such series as and when the same shall become due and
      payable by the terms thereof, otherwise than by acceleration (unless such
      default has been cured and a sum sufficient to pay all matured
      installments of interest, principal and premium, if any, has been
      deposited with the Trustee), or

            

    

    

    
      	
               
      

            	
              (2)

            	
              to
      the extent such right is applicable to such Security, a failure by the
      Company on request to convert any Security into Common Stock;
      or

            

    

    

    
      	
               
      

            	
              (3)

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

            

    

    

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

    

    
      	
              Section
      5.14

            	
              Undertaking
      for Costs.

            

    

    

    In any
suit for the enforcement of any right or remedy under this Indenture, or in any
suit against the Trustee for any action taken, suffered or omitted by it as
Trustee, a court may require any party litigant in such suit to file an
undertaking to pay the costs of such suit, and may assess costs against any such
party litigant, in the manner and to the extent provided in the Trust Indenture
Act; provided that neither this Section nor the Trust Indenture Act shall be
deemed to authorize any court to require such an undertaking or to make such an
assessment in any suit instituted by the Company or in any suit for the
enforcement of the right to convert any Security in accordance with Article
14.

    

    
      	
              Section
      5.15

            	
              Waiver
      of Usury, Stay or Extension
Laws.

            

    

    
      
         

      

      
        -36-

        
          

        

      

      
         

      

    

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

    

    ARTICLE
6

    THE
TRUSTEE

    

    
      	
              Section
      6.1

            	
              Certain
      Duties and Responsibilities.

            

    

    

    The
duties and responsibilities of the Trustee shall be as provided by the Trust
Indenture Act.  Notwithstanding the foregoing, no provision of this
Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder,
or in the exercise of any of its rights or powers if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against
such risk or liability is not reasonably assured to it.  Whether or
not therein expressly so provided, every provision of this Indenture relating to
the conduct or affecting the liability of or affording protection to the Trustee
shall be subject to the provisions of this Section.

    

    
      	
              Section
      6.2

            	
              Notice
      of Defaults.

            

    

    

    If a
default occurs hereunder with respect to Securities of any series, the Trustee
shall give the Holders of Securities of such series notice of such default as
and to the extent provided by the Trust Indenture Act; provided, however, that
except in the case of a default in the payment of principal of (or premium, if
any) or interest on any Securities of such series or in the payment of any
sinking fund installment or any conversion right applicable to Securities of
such series, the Trustee shall be protected in withholding such notice if and so
long as a trust committee of directors and/or Responsible Officers of the
Trustee in good faith determine that the withholding of such notice is in the
interests of the holders of Securities of such series; provided, further,
however, that in the case of any default of the character specified in Section
5.1(4) with respect to Securities of such series, no such notice to Holders
shall be given until at least 60 days after the occurrence
thereof.  For the purpose of this Section, the term “default” means
any event that is, or after notice or lapse of time or both would become, an
Event of Default with respect to Securities of such series.

    

    Except
with respect to Section 10.1, the Trustee shall have no duty to inquire as to
the performance of the Company with respect to the covenants contained in
Article 10.  In addition, the Trustee shall not be deemed to have
knowledge of an Event of Default except (i) any Default or Event of Default
occurring pursuant to Sections 5.1(1), 5.1(2) and 5.1(3) (defaults in payments
on the Securities) or (ii) any Default or Event of Default of which the Trustee
shall have received written notification or obtained actual
knowledge.

    

    Delivery
of reports, information and documents to the Trustee under Section 7.4 is for
informational purposes only and the Trustee’s receipt of the foregoing shall not
constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Company’s
compliance with any of their covenants hereunder (as to which the Trustee is
entitled to rely conclusively on Officers’ Certificates).

    
      
         

      

      
        -37-

        
          

        

      

      
         

      

    

    
      	
              Section
      6.3

            	
              Certain
      Rights of Trustee.

            

    

    

    Subject
to the provisions of Section 6.1:

    

    
      	
               
      

            	
              (1)

            	
              in
      the absence of bad faith on the part of the Trustee, the Trustee may rely
      and shall be protected in acting or refraining from acting upon any
      resolution, certificate, statement, instrument, opinion, report, notice,
      request, direction, consent, order, bond, debenture, note, other evidence
      of indebtedness or other paper or document believed by it to be genuine
      and to have been signed or presented by the proper party or
      parties;

            

    

    

    
      	
               
      

            	
              (2)

            	
              any
      request or direction of the Company mentioned herein shall be sufficiently
      evidenced by a Company Request or Company Order, and any resolution of the
      Board of Directors shall be sufficiently evidenced by a Board
      Resolution;

            

    

    

    
      	
               
      

            	
              (3)

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

            

    

    

    
      	
               
      

            	
              (4)

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

            

    

    

    
      	
               
      

            	
              (5)

            	
              the
      Trustee shall be under no obligation to exercise any of the rights or
      powers vested in it by this Indenture at the request or direction of any
      of the Holders pursuant to this Indenture, unless such Holders shall have
      offered to the Trustee reasonable security or indemnity against the costs,
      expenses and liabilities which might be incurred by it in compliance with
      such request or direction;

            

    

    

    
      	
               
      

            	
              (6)

            	
              the
      Trustee shall not be bound to make any investigation into the facts or
      matters stated in any resolution, certificate, statement, instrument,
      opinion, report, notice, request, direction, consent, order, bond,
      debenture, note, other evidence of indebtedness or other paper or
      document, but the Trustee, in its discretion, may make such further
      inquiry or investigation into such facts or matters as it may see fit,
      and, if the Trustee shall determine to make such further inquiry or
      investigation, it shall be entitled to examine the books, records and
      premises of the Company, personally or by agent or attorney;
      and

            

    

    

    
      	
               
      

            	
              (7)

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

            

    

    

    
      	
              Section
      6.4

            	
              Not
      Responsible for Recitals or Issuance of
  Securities.

            

    

    

    The
recitals contained herein and in the Securities, except the Trustee’s
certificates of authentication, shall be taken as the statements of the Company,
and neither the Trustee nor any Authenticating Agent assumes any responsibility
for their correctness.  The Trustee makes no representations as to the
validity, sufficiency or priority of this Indenture or of the
Securities.  Neither the Trustee nor any Authenticating Agent shall be
accountable for the use or application by the Company of Securities or the
proceeds thereof.

    
      
         

      

      
        -38-

        
          

        

      

      
         

      

    

    
      	
              Section
      6.5

            	
              May
      Hold Securities and Act as Trustee under Other
  Indentures.

            

    

    

    The
Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or
any other agent of the Company, in its individual or any other capacity, may
become the owner or pledgee of Securities and, subject to Sections 6.8 and 6.13,
may otherwise deal with the Company with the same rights it would have if it
were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such
other agent.

    

    Subject
to the limitations imposed by the Trust Indenture Act, nothing in this Indenture
shall prohibit the Trustee from becoming and acting as trustee under other
indentures under which other securities, or certificates of interest of
participation in other securities, of the Company are outstanding in the same
manner as if it were not Trustee hereunder.

    

    
      	
              Section
      6.6

            	
              Money
      Held in Trust.

            

    

    

    Money
held by the Trustee in trust hereunder 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 money received by it hereunder except as otherwise
agreed with the Company.

    

    
      	
              Section
      6.7

            	
              Compensation
      and Reimbursement.

            

    

    

    The
Company agrees:

    

    
      	
               
      

            	
              (1)

            	
              to
      pay to the Trustee from time to time reasonable compensation for all
      services rendered by it hereunder (which compensation shall not be limited
      by any provision of law in regard to the compensation of a trustee of an
      express trust);

            

    

    

    
      	
               
      

            	
              (2)

            	
              except
      as otherwise expressly provided herein, to reimburse the Trustee upon its
      request for all reasonable expenses, disbursements and advances incurred
      or made by the Trustee in accordance with any provision of this Indenture
      (including the reasonable compensation and the expenses and disbursements
      of its agents and counsel), except any such expense, disbursement or
      advance as may be attributable to its negligence or bad faith;
      and

            

    

    

    
      	
               
      

            	
              (3)

            	
              to
      indemnify the Trustee for, and to hold it harmless against, any loss,
      liability or expense incurred without negligence or bad faith on its part,
      arising out of or in connection with the acceptance or administration of
      the trust or trusts hereunder, including the costs and expenses of
      defending itself against any claim or liability in connection with the
      exercise or performance of any of its powers or duties
      hereunder.

            

    

    

    When the
Trustee incurs expenses or renders services after an Event of Default specified
in Section 5.1(5) or Section 5.1(6) hereof occurs, the expenses and the
compensation for the services (including the fees and expenses of its agents and
counsel) are intended to constitute expenses of administration under any
applicable bankruptcy, insolvency, reorganization or similar
law.

    
      
         

      

      
        -39-

        
          

        

      

      
         

      

    

    
      	
              Section
      6.8

            	
              Conflicting
      Interests.

            

    

    

    If the
Trustee has or shall acquire a conflicting interest within the meaning of the
Trust Indenture Act and there is an Event of Default under the Securities of
that series, the Trustee shall either eliminate such interest or resign, to the
extent and in the manner provided by, and subject to the provisions of, the
Trust Indenture Act and this Indenture.  To the extent permitted by
the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting
interest by virtue of being a trustee under this Indenture with respect to
Securities of more than one series.

    

    
      	
              Section
      6.9

            	
              Corporate
      Trustee Required; Eligibility.

            

    

    

    There
shall at all times be one (and only one) Trustee hereunder with respect to the
Securities of each series, which may be Trustee hereunder for Securities of one
or more other series.  Each Trustee shall be a Person that is eligible
pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is
a member of a bank holding company system, its bank holding company has) a
combined capital and surplus of at least $50,000,000.  If any such
Person or bank holding company publishes reports of condition at least annually,
pursuant to law or to the requirements of its supervising or examining
authority, then for the purposes of this Section and to the extent permitted by
the Trust Indenture Act, the combined capital and surplus of such Person or bank
holding company shall be deemed to be its combined capital and surplus as set
forth in its most recent report of condition so published.  If at any
time the Trustee with respect to the Securities of any series shall cease to be
eligible in accordance with the provisions of this Section, it shall resign
immediately in the manner and with the effect hereinafter specified in this
Article.

    

    
      	
              Section
      6.10

            	
              Resignation
      and Removal; Appointment of
Successor.

            

    

    

    No
resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of
appointment by the successor Trustee in accordance with the applicable
requirements of Section 6.11.  The Trustee may resign at any time with
respect to the Securities of one or more series by giving written notice thereof
to the Company.  If the instrument of acceptance by a successor
Trustee required by Section 6.11 shall not have been delivered to the Trustee
within 30 days after the giving 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 the Securities of such series.

    

    The
Trustee may be removed at any time with respect to the Securities of any series
by Act of the Holders of a majority in principal amount of the Outstanding
Securities of such series, delivered to the Trustee and to the
Company.

    

    If at any
time:

    

    
      	
               
      

            	
              (1)

            	
              the
      Trustee shall fail to comply with Section 6.8 after written request
      therefor by the Company or by any Holder who has been a bona fide Holder
      of a Security for at least six months,
or

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      Trustee shall cease to be eligible under Section 6.9 and shall fail to
      resign after written request therefor by the Company or by any such
      Holder, or

            

    

    
      
         

      

      
        -40-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (3)

            	
              the
      Trustee shall become incapable of acting or shall be adjudged a bankrupt
      or insolvent or a receiver of the Trustee or of its property shall be
      appointed or any public officer shall take charge or control of the
      Trustee or of its property or affairs for the purpose of rehabilitation,
      conservation or liquidation, then, in any such case, (A) the Company by a
      Board Resolution may remove the Trustee with respect to all Securities, or
      (B) subject to Section 5.14, any Holder who has been a bona fide Holder of
      a Security for at least six months may, on behalf of himself and all
      others similarly situated, petition any court of competent jurisdiction
      for the removal of the Trustee with respect to all Securities and the
      appointment of a successor Trustee or
Trustees.

            

    

    

    If the
Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the
Securities of one or more series, the Company, by a Board Resolution, shall
promptly appoint a successor Trustee or Trustees with respect to the Securities
of that or those series (it being understood that any such successor Trustee may
be appointed with respect to the Securities of one or more or all of such series
and that at any time there shall be only one Trustee with respect to the
Securities of any particular series) and shall comply with the applicable
requirements of Section 6.11.  If, within one year after such
resignation, removal or incapability, or the occurrence of such vacancy, a
successor Trustee with respect to the Securities of any series shall be
appointed by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series delivered to the Company and the retiring
Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section
6.11, become the successor Trustee with respect to the Securities of such series
and to that extent supersede the successor Trustee appointed by the
Company.  If no successor Trustee with respect to the Securities of
any series shall have been so appointed by the Company or the Holders and
accepted appointment in the manner required by Section 6.11, the retiring
Trustee may petition, or any Holder who has been a bona fide Holder of a
Security of such series for at least six months may petition, on behalf of
himself and all others similarly situated, any court of competent jurisdiction
for the appointment of a successor Trustee with respect to the Securities of
such series.

    

    The
Company shall give notice of each resignation and each removal of the Trustee
with respect to the Securities of any series and each appointment of a successor
Trustee with respect to the Securities of any series to all Holders of
Securities of such series in the manner provided in Section 1.6.  Each
notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust
Office.

    

    
      	
              Section
      6.11

            	
              Acceptance
      of Appointment by Successor.

            

    

    

    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.

    
      
         

      

      
        -41-

        
          

        

      

      
         

      

    

    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 (1) 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, (2) if the retiring Trustee
is not retiring with respect to all Securities, shall contain such provisions as
shall be deemed necessary or desirable to confirm that all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of that
or those series as to which the retiring Trustee is not retiring shall continue
to be vested in the retiring Trustee, and (3) shall add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee, it being
understood that nothing herein or in such supplemental indenture shall
constitute such Trustees co-trustees of the same trust and 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 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 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 all 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.

    

    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 the first or
second preceding paragraph, as the case may be.

    

    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.

    

    
      	
              Section
      6.12

            	
              Merger,
      Conversion, Consolidation or Succession to
  Business.

            

    

    

    Any
corporation into which the Trustee may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Trustee shall be a party, or any corporation
succeeding to all or substantially all the corporate trust business of the
Trustee (including the administration of the trust created by this Indenture),
shall be the successor of the Trustee hereunder, provided such corporation shall
be otherwise qualified and eligible under this Article, without the execution or
filing of any paper or any further act on the part of any of the parties
hereto.  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.  In the
event that any Securities shall not have been authenticated by such predecessor
Trustee, any such successor Trustee may authenticate and deliver such Securities
in either its own name or that of such predecessor Trustee, with the full force
and effect which this Indenture provides for the certificate of authentication
of the Trustee.

    
      
         

      

      
        -42-

        
          

        

      

      
         

      

    

    
      	
              Section
      6.13

            	
              Preferential
      Collection of Claims Against
Company.

            

    

    

    If and
when the Trustee shall be or become a creditor of the Company (or any other
obligor upon the Securities), the Trustee shall be subject to the provisions of
the Trust Indenture Act regarding the collection of claims against the Company
(or any such other obligor).

    

    
      	
              Section
      6.14

            	
              Appointment
      of Authenticating Agent.

            

    

    

    The
Trustee may appoint an Authenticating Agent or Agents with respect to one or
more series of Securities which shall be authorized to act on behalf of the
Trustee to authenticate Securities of such series issued upon original issue and
upon exchange, registration of transfer or partial redemption thereof or
pursuant to Section 3.6, and Securities so authenticated shall be entitled to
the benefits of this Indenture and shall be valid and obligatory for all
purposes as if authenticated by the Trustee hereunder.  Wherever
reference is made in this Indenture to the authentication and delivery of
Securities by the Trustee or the Trustee’s certificate of authentication, such
reference shall be deemed to include authentication and delivery on behalf of
the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent.  Each
Authenticating Agent shall be acceptable to the Company and shall at all times
be a corporation organized and doing business under the laws of the United
States of America, any State thereof or the District of Columbia, authorized
under such laws to act as Authenticating Agent, having (or if the Authenticating
Agent is a member of a bank holding company system, its bank holding company
has) a combined capital and surplus of not less than $50,000,000 and subject to
supervision or examination by Federal or State authority.  If such
Authenticating Agent publishes reports of condition at least annually, pursuant
to law or to the requirements of said supervising or examining authority, then
for the purposes of this Section, the combined capital and surplus of such
Authenticating Agent shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published.  If at
any time an Authenticating Agent shall cease to be eligible in accordance with
the provisions of this Section, such Authenticating Agent shall resign
immediately in the manner and with the effect specified in this
Section.

    

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

    

    An
Authenticating Agent may resign at any time by giving written notice thereof to
the Trustee and to the Company.  The Trustee may at any time terminate
the agency of an Authenticating Agent by giving written notice thereof to such
Authenticating Agent and to the Company.  Upon receiving such a notice
of resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, the Trustee may appoint a successor Authenticating
Agent which shall be acceptable to the Company and shall give notice of such
appointment in the manner provided in Section 1.6 to all Holders of Securities
of the series with respect to which such Authenticating Agent will
serve.  Any successor Authenticating Agent upon acceptance of its
appointment hereunder shall become vested with all the rights, powers and duties
of its predecessor hereunder, with like effect as if originally named as an
Authenticating Agent.  No successor Authenticating Agent shall be
appointed unless eligible under the provisions of this Section.

    
      
         

      

      
        -43-

        
          

        

      

      
         

      

    

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

    

    If an
appointment with respect to one or more series is made pursuant to this Section
6.12, the Securities of such series may have endorsed thereon, in lieu of the
Trustee’s certificate of authentication, an alternative certificate of
authentication in the following form:

    

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

    

    
      
        
          
            
              
                	 
      	 
      	
                        ,

                      
	 
      	 
      	
                        as
      Trustee

                      
	 
      	 
      	 
      
	 
      	
                        By:  
      

                      	 
      
	 
      	 
      	
                        as
      Authenticating Agent

                      
	 
      	 
      	 
      
	 
      	
                        By:  
      

                      	 
      
	 
      	 
      	
                        Authorized
      Officer

                      

              

            

          

        

      

    

    

    ARTICLE
7

    HOLDERS’
LISTS AND REPORTS BY TRUSTEE AND COMPANY

    

    
      	
              Section
      7.1

            	
              Company
      to Furnish Trustee Names and Addresses of
  Holders.

            

    

    

    The
Company will furnish or cause to be furnished to the Trustee

    

    
      	
               
      

            	
              (1)

            	
              semi-annually,
      not later than 15 days after the Regular Record Date for each respective
      series of Securities, a list, in such form as the Trustee may reasonably
      require, of the names and addresses of the Holders of Securities of each
      series as of such Regular Record Date, as the case may be, or if there is
      no Regular Record Date for such series of Securities, semi-annually,
      and

            

    

    

    
      	
               
      

            	
              (2)

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

            

    

    

    provided
that no such list need be furnished by the Company to the Trustee so long as the
Trustee is acting as Security Registrar.

    

    
      	
              Section
      7.2

            	
              Preservation
      of Information; Communications to
Holders.

            

    

    

    The
Trustee shall preserve, in as current a form as is reasonably practicable, the
names and addresses of Holders contained in the most recent list furnished to
the Trustee as provided in Section 7.1 and the names and addresses of Holders
received by the Trustee in its capacity as Security Registrar.  The
Trustee may destroy any list furnished to it as provided in Section 7.1 upon
receipt of a new list so furnished.

    
      
         

      

      
        -44-

        
          

        

      

      
         

      

    

    The
rights of Holders to communicate with other Holders with respect to their rights
under this Indenture or under the Securities, and the corresponding rights and
privileges of the Trustee, shall be as provided by the Trust Indenture
Act.  Every Holder of Securities, by receiving and holding the same,
agrees with the Company and the Trustee that neither the Company nor
the

    

    Trustee
nor any agent of either of them shall be held accountable by reason of any
disclosure of information as to names and addresses of Holders made pursuant to
the Trust Indenture Act.

    

    
      	
              Section
      7.3

            	
              Reports
      by Trustee.

            

    

    

    The
Trustee shall transmit to Holders such reports concerning the Trustee and its
actions under this Indenture as may be required pursuant to the Trust Indenture
Act at the times and in the manner provided pursuant thereto.

    

    Reports
so required to be transmitted at stated intervals of not more than 12 months
shall be transmitted no later than July 15 in each calendar year, commencing
with the first July 15 after the first issuance of Securities pursuant to this
Indenture.

    

    A copy of
each such report shall, at the time of such transmission to Holders, be filed by
the Trustee with each stock exchange upon which any Securities are listed, with
the Commission and with the Company.  The Company will notify the
Trustee when any Securities are listed on any stock exchange.

    

    
      	
              Section
      7.4

            	
              Reports
      by Company.

            

    

    

    The
Company shall file with the Trustee and the Commission, and transmit to Holders,
such information, documents and other reports, and such summaries thereof, as
may be required pursuant to the Trust Indenture Act at the times and in the
manner provided pursuant to the Trust Indenture Act; provided that any such
information, documents or reports required to be filed with the Commission
pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the
Trustee within 15 days after the same is so required to be filed with the
Commission.

    

    ARTICLE
8

    CONSOLIDATION,
MERGER, CONVEYANCE, TRANSFER OR LEASE

    

    
      	
              Section
      8.1

            	
              Company
      May Consolidate, etc., Only on Certain
Terms.

            

    

    

    The
Company shall not consolidate with or merge into any other Person (in a
transaction in which the Company is not the surviving corporation) or convey,
transfer or lease its properties and assets substantially as an entirety to any
Person, unless:

    

    
      	
               
      

            	
              (1)

            	
              in
      case the Company shall consolidate with or merge into another Person (in a
      transaction in which the Company is not the surviving corporation) or
      convey, transfer or lease its properties and assets substantially as an
      entirety 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, the properties and assets of the Company
      substantially as an entirety shall be a corporation, limited liability
      company, partnership, trust or other business entity, 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,
      in form satisfactory 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 and the conversion rights shall
      be provided for in accordance with Article 14, if applicable, or as
      otherwise specified pursuant to Section 3.1, by supplemental indenture
      satisfactory in form to the Trustee, executed and delivered to the
      Trustee, by the Person (if other than the Company) formed by such
      consolidation or into which the Company shall have been merged or by the
      Person which shall have acquired the Company’s
  assets;

            

    

    
      
         

      

      
        -45-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (2)

            	
              immediately
      after giving effect to such transaction and treating any indebtedness
      which becomes an obligation of the Company or any Subsidiary as a result
      of such transaction as having been incurred by the Company or such
      Subsidiary at the time of 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 occurred and be continuing;
  and

            

    

    

    
      	
               
      

            	
              (3)

            	
              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
      8.2

            	
              Successor
      Substituted.

            

    

    

    Upon any
consolidation of the Company with, or merger of the Company into, any other
Person or any conveyance, transfer or lease of the properties and assets of the
Company substantially as an entirety in accordance with Section 8.1, 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 this Indenture with the same effect as if such successor Person had been
named as the Company herein, and thereafter, except in the case of a lease, the
predecessor Person shall be relieved of all obligations and covenants under this
Indenture and the Securities.

    

    ARTICLE
9

    SUPPLEMENTAL
INDENTURES

    

    
      	
              Section
      9.1

            	
              Supplemental
      Indentures Without Consent of
Holders.

            

    

    

    Without
the consent of any Holders, the Company, when authorized by a Board Resolution,
and the Trustee, at any time and from time to time, may enter into one or more
indentures supplemental hereto, in form satisfactory to the Trustee, for any of
the following purposes:

    

    
      	
               
      

            	
              (1)

            	
              to
      evidence the succession of another Person to the Company, or successive
      successions, and the assumption by any such successor of the covenants of
      the Company herein and in the Securities in compliance with Article 8;
      or

            

    

    
      
         

      

      
        -46-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (2)

            	
              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;
      or

            

    

    

    
      	
               
      

            	
              (3)

            	
              to
      add any additional Events of Default for the benefit of the Holders of all
      or any series of Securities (and if such additional Events of Default are
      to be for the benefit of less than all series of Securities, stating that
      such additional Events of Default are expressly being included solely for
      the benefit of such series); or

            

    

    

    
      	
               
      

            	
              (4)

            	
              to
      add to or change any of the provisions of this Indenture to such extent as
      shall be necessary to permit or facilitate the issuance of Securities in
      bearer form, registrable or not registrable as to principal, and with or
      without interest coupons, or to permit or facilitate the issuance of
      Securities in uncertificated form;
or

            

    

    

    
      	
               
      

            	
              (5)

            	
              to
      add to, change or eliminate any of the provisions of this Indenture in
      respect of one or more series of Securities, provided that any such
      addition, change or elimination (A) shall neither (i) apply to any
      Security of any series created prior to the execution of such supplemental
      indenture and entitled to the benefit of such provision nor (ii) modify
      the rights of the Holder of any such Security with respect to such
      provision or (B) shall become effective only when there is no such
      Security Outstanding; or

            

    

    

    
      	
               
      

            	
              (6)

            	
              to
      secure the Securities, including provisions regarding the circumstances
      under which collateral may be released or substituted;
  or

            

    

    

    
      	
               
      

            	
              (7)

            	
              to
      add or provide for a guaranty of the Securities or additional obligors on
      the Securities; or

            

    

    

    
      	
               
      

            	
              (8)

            	
              to
      establish the form or terms of Securities of any series as permitted by
      Sections 2.1 and 3.1; or

            

    

    

    
      	
               
      

            	
              (9)

            	
              to
      evidence and provide for the acceptance of appointment hereunder by a
      successor Trustee with respect to the Securities of one or more series and
      to add to or change any of the provisions of this Indenture as shall be
      necessary to provide for or facilitate the administration of the trusts
      hereunder by more than one Trustee, pursuant to the requirements of
      Section 6.11; or

            

    

    

    
      	
               
      

            	
              (10)

            	
              to
      cure any ambiguity, to correct or supplement any provision herein which
      may be defective or inconsistent with any other provision herein, or to
      make any other provisions with respect to matters or questions arising
      under this Indenture, provided that such action pursuant to this clause
      (10) shall not adversely affect the interests of the Holders of Securities
      of any series in any material respect;
or

            

    

    

    
      	
               
      

            	
              (11)

            	
              to
      supplement any of the provisions of the Indenture to such extent as shall
      be necessary to permit or facilitate the defeasance and discharge of any
      series of Securities pursuant to Articles 4 and 13, provided that any such
      action shall not adversely affect the interests of the Holders of
      Securities of such series or any other series of Securities in any
      material respect.

            

    

    
      
         

      

      
        -47-

        
          

        

      

      
         

      

    

    
      	
              Section
      9.2

            	
              Supplemental
      Indentures with Consent of Holders.

            

    

    

    With the
consent of the Holders of a majority in principal amount of the Outstanding
Securities of each series affected by such supplemental indenture, by Act of
said Holders delivered to the Company and the Trustee, the Company, when
authorized by a Board Resolution, and the Trustee may enter into an indenture or
indentures supplemental hereto for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture or
of modifying in any manner the rights of the Holders of Securities of such
series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security
affected thereby,

    

    
      	
               
      

            	
              (1)

            	
              change
      the Stated Maturity of the principal of, or any installment of principal
      of or interest on, any Security, or reduce the principal or premium amount
      thereof or the rate of interest thereon or any amount payable upon the
      redemption or repurchase thereof, or reduce the amount of the principal of
      an Original Issue Discount Security or any other Security which would be
      due and payable upon a declaration of acceleration of the Maturity thereof
      pursuant to Section 5.2 or reduce the amount of any sinking fund payment,
      or change the place of payment or the coin or currency in which, any
      Security or any premium or interest thereon is payable, or impair the
      right to institute suit for the enforcement of any such payment on or
      after the Stated Maturity thereof (or, in the case of redemption, on or
      after the Redemption Date), or modify the provisions of this Indenture
      with respect to the subordination of such series of Securities in a manner
      materially adverse to the Holders of Securities of such series, or, in the
      case of Securities of any series that are convertible into Securities or
      other securities of the Company, adversely affect the right of Holders to
      convert any of the Securities of such series other than as provided in or
      pursuant to this Indenture, or

            

    

    

    
      	
               
      

            	
              (2)

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

            

    

    

    
      	
               
      

            	
              (3)

            	
              modify
      any of the provisions of this Section, Section 5.13 or Section 10.8,
      except to increase any such percentage or to provide that certain other
      provisions of this Indenture cannot be modified or waived without the
      consent of the Holder of each Outstanding Security affected thereby;
      provided, however, that this clause shall not be deemed to require the
      consent of any Holder with respect to changes in the references to “the
      Trustee” and concomitant changes in this Section and Section 10.8, or the
      deletion of this proviso, in accordance with the requirements of Sections
      6.11 and 9.1(8), or

            

    

    

    
      	
               
      

            	
              (4)

            	
              if
      applicable, make any change that adversely affects the right to convert
      any security as provided in Article 14 or pursuant to Section 3.1 (except
      as permitted by Section 9.1(9)).

            

    

    

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

    
      
         

      

      
        -48-

        
          

        

      

      
         

      

    

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

    

    
      	
              Section
      9.3

            	
              Execution
      of Supplemental Indentures.

            

    

    

    In
executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modifications thereby of the trusts
created by this Indenture, the Trustee shall be entitled to receive, and
(subject to Sections 6.1 and 6.3) shall be fully protected in relying upon, an
Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture.  The Trustee may, but shall
not be obligated to, enter into any such supplemental indenture which affects
the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.

    

    
      	
              Section
      9.4

            	
              Effect
      of Supplemental Indentures.

            

    

    

    Upon the
execution of any supplemental indenture under this Article, this Indenture shall
be modified in accordance therewith, and such supplemental indenture shall form
a part of this Indenture for all purposes; and every Holder of Securities
theretofore or thereafter authenticated and delivered hereunder shall be bound
thereby.

    

    
      	
              Section
      9.5

            	
              Conformity
      with Trust Indenture Act.

            

    

    

    Every
supplemental indenture executed pursuant to this Article shall conform to the
requirements of the Trust Indenture Act.

    

    
      	
              Section
      9.6

            	
              Reference
      in Securities to Supplemental
Indentures.

            

    

    

    Securities
of any series authenticated and delivered after the execution of any
supplemental indenture pursuant to this Article may, and shall if required by
the Trustee, bear a notation in form approved by the Trustee as to any matter
provided for in such supplemental indenture.  If the Company shall so
determine, new Securities of any series so modified as to conform, in the
opinion of the Trustee and the Company, to any such supplemental indenture may
be prepared and executed by the Company and authenticated and delivered by the
Trustee in exchange for Outstanding Securities of such series.

    

    ARTICLE
10

    COVENANTS

    

    
      	
              Section
      10.1

            	
              Payment
      of Principal, Premium and Interest.

            

    

    

    The
Company covenants and agrees for the benefit of each series of Securities that
it will duly and punctually pay the principal of and any premium and interest on
the Securities of that series in accordance with the terms of the Securities and
this Indenture.

    

    
      	
              Section
      10.2

            	
              Maintenance
      of Office or Agency.

            

    

    

    The
Company will maintain in each Place of Payment for any series of Securities an
office or agency where Securities of that series may be presented or surrendered
for payment, where Securities of that series may be surrendered for registration
of transfer or exchange, where Securities of that series may be surrendered for
conversion and where notices and demands to or upon the Company in respect of
the Securities of that series and this Indenture may be served.  The
Company will give prompt written notice to the Trustee of the location, and any
change in the location, of such office or agency.  If at any time the
Company shall fail to maintain any such required office or agency or shall fail
to furnish the Trustee with the address thereof, such presentations, surrenders,
notices and demands may be made or served at the Corporate Trust Office of the
Trustee, and the Company hereby appoints the Trustee as its agent to receive all
such presentations, surrenders, notices and demands.  Unless otherwise
provided in a supplemental indenture or pursuant to Section 3.1 hereof, the
Place of Payment for any series of Securities shall be the Corporate Trust
Office of the Trustee.

    
      
         

      

      
        -49-

        
          

        

      

      
         

      

    

    The
Company may also from time to time designate one or more other offices or
agencies where the Securities of one or more series may be presented or
surrendered for any or all such purposes and may from time to time rescind such
designations; provided, however, that no such designation or rescission shall in
any manner relieve the Company of its obligation to maintain an office or agency
in each Place of Payment for Securities of any series for such
purposes.  The Company will give prompt written notice to the Trustee
of any such designation or rescission and of any change in the location of any
such other office or agency.

    

    
      	
              Section
      10.3

            	
              Money
      for Securities Payments to be Held in
Trust.

            

    

    

    If the
Company shall at any time act as its own Paying Agent with respect to any series
of Securities, it will, on or before each due date of the principal of or any
premium or interest on any of the Securities of that series, segregate and hold
in trust for the benefit of the Persons entitled thereto a sum sufficient to pay
the principal and any premium and interest so becoming due until such sums shall
be paid to such Persons or otherwise disposed of as herein provided and will
promptly notify the Trustee of its action or failure so to act.

    

    Whenever
the Company shall have one or more Paying Agents for any series of Securities,
it will, on or prior to each due date of the principal of or any premium or
interest on any Securities of that series, deposit with a Paying Agent a sum
sufficient to pay such amount, such sum to be held as provided by the Trust
Indenture Act, and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of its action or failure so to act.

    

    The
Company will cause each Paying Agent for any series of Securities other than the
Trustee to execute and deliver to the Trustee an instrument in which such Paying
Agent shall agree with the Trustee, subject to the provisions of this Section,
that such Paying Agent will (1) comply with the provisions of the Trust
Indenture Act applicable to it as a Paying Agent and (2) during the continuance
of any default by the Company (or any other obligor upon the Securities of that
series) in the making of any payment in respect of the Securities of that
series, upon the written request of the Trustee, forthwith pay to the Trustee
all sums held in trust by such Paying Agent for payment in respect of the
Securities of that series.

    

    The
Company may at any time, for the purpose of obtaining the satisfaction and
discharge of this Indenture or for any other purpose, pay, or by Company Order
direct any Paying Agent to pay, to the Trustee all sums held in trust by the
Company or such Paying Agent, such sums to be held by the Trustee upon the same
trusts 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.

    

    Any money
deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of or any premium or interest on any
Security of any series and remaining unclaimed for a period ending on the
earlier of the date that is ten Business Days prior to the date such money would
escheat to the State or two years after such principal, premium or interest has
become due and payable shall be paid to the Company on Company Request, or (if
then held by the Company) shall be discharged from such trust; and the Holder of
such Security shall thereafter, as an unsecured general creditor, look only to
the Company for payment thereof, and all liability of the Trustee or such Paying
Agent with respect to such trust money, and all liability of the Company as
trustee thereof, shall thereupon cease; provided, however, that the Trustee or
such Paying Agent, before being required to make any such repayment, may at the
expense of the Company cause to be published once, in a newspaper published in
the English language, customarily published on each Business Day and of general
circulation in each Place of Payment, notice that such money remains unclaimed
and that, after a date specified therein, which shall not be less than 30 days
from the date of such publication, any unclaimed balance of such money then
remaining will be repaid to the Company.

    
      
         

      

      
        -50-

        
          

        

      

      
         

      

    

    
      	
              Section
      10.4

            	
              Statement
      by Officers as to Default.

            

    

    

    The
Company will deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company ending after the date hereof, an Officers’
Certificate, stating whether or not to the best knowledge of the signers thereof
the Company is in default in the performance and observance of any of the terms,
provisions and conditions of this Indenture (without regard to any period of
grace or requirement of notice provided hereunder) and, if the Company shall be
in default, specifying all such defaults and the nature and status thereof of
which they may have knowledge.  The fiscal year of the Company
currently ends on December 31; and the Company will give the Trustee prompt
written notice of any change of its fiscal year.

    

    
      	
              Section
      10.5

            	
              Existence.

            

    

    

    Subject
to Article 8, the Company will do or cause to be done all things necessary to
preserve and keep in full force and effect its existence.

    

    
      	
              Section
      10.6

            	
              Waiver
      of Certain Covenants.

            

    

    

    Except as
otherwise specified as contemplated by Section 3.1 for Securities of such
series, the Company may, with respect to the Securities of any series, omit in
any particular instance to comply with any term, provision or condition set
forth in any covenant provided pursuant to Section 3.1(19), 9.1(2) or 9.1(7) for
the benefit of the Holders of such series if before the time for such compliance
the Holders of at least a majority in principal amount of the Outstanding
Securities of such series shall, by Act of such Holders, either waive such
compliance in such instance or generally waive compliance with such term,
provision or condition, but no such waiver shall extend to or affect such term,
provision or condition except to the extent so expressly waived, and, until such
waiver shall become effective, the obligations of the Company and the duties of
the Trustee in respect of any such term, provision or condition shall remain in
full force and effect.

    

    ARTICLE
11

    REDEMPTION
OF SECURITIES

    

    
      	
              Section
      11.1

            	
              Applicability
      of Article.

            

    

    

    Securities
of any series that are redeemable before their Stated Maturity shall be
redeemable in accordance with their terms and (except as otherwise specified as
contemplated by Section 3.1 for such Securities) in accordance with this
Article.

    
      
         

      

      
        -51-

        
          

        

      

      
         

      

    

    
      	
              Section
      11.2

            	
              Election
      to Redeem; Notice to Trustee.

            

    

    

    The
election of the Company to redeem any Securities shall be evidenced by a Board
Resolution or in another manner specified as contemplated by Section 3.1 for
such Securities.  In case of any redemption at the election of the
Company of less than all the Securities of any series (including any such
redemption affecting only a single Security), the Company shall, at least 45
days prior to the Redemption Date fixed by the Company (unless a shorter notice
shall be satisfactory to the Trustee), notify the Trustee of such Redemption
Date, of the principal amount of Securities of such series to be redeemed and,
if applicable, of the tenor of the Securities to be redeemed.  In the
case of any redemption of Securities prior to the expiration of any restriction
on such redemption provided in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish the Trustee with an Officers’ Certificate
evidencing compliance with such restriction.

    

    
      	
              Section
      11.3

            	
              Selection
      by Trustee of Securities to Be
Redeemed.

            

    

    

    If less
than all the Securities of any series are to be redeemed (unless all the
Securities of such series and of a specified tenor are to be redeemed or unless
such redemption affects only a single Security), the particular Securities to be
redeemed shall be selected not more than 45 days prior to the Redemption Date by
the Trustee, from the Outstanding Securities of such series not previously
called for redemption, by lot, or in the Trustee’s discretion, on a pro-rata
basis, provided that the unredeemed portion of the principal amount of any
Security shall be in an authorized denomination (which shall not be less than
the minimum authorized denomination) for such Security.  If less than
all the Securities of such series and of a specified tenor are to be redeemed
(unless such redemption affects only a single Security), the particular
Securities to be redeemed shall be selected not more than 45 days prior to the
Redemption Date by the Trustee, from the Outstanding Securities of such series
and specified tenor not previously called for redemption in accordance with the
preceding sentence.

    

    If any
Security selected for partial redemption is converted in part before termination
of the conversion right with respect to the portion of the Security so selected,
the converted portion of such Security shall be deemed (so far as may be) to be
the portion selected for redemption.  Securities that have been
converted during a selection of Securities to be redeemed shall be treated by
the Trustee as Outstanding for the purpose of such selection.

    

    The
Trustee shall promptly notify the Company in writing of the Securities selected
for redemption as aforesaid and, in case of any Securities selected for partial
redemption as aforesaid, the principal amount thereof to be
redeemed.

    

    The
provisions of the two preceding paragraphs shall not apply with respect to any
redemption affecting only a single Security, whether such Security is to be
redeemed in whole or in part.  In the case of any such redemption in
part, the unredeemed portion of the principal amount of the Security shall be in
an authorized denomination (which shall not be less than the minimum authorized
denomination) for such Security.

    

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

    

    
      	
              Section
      11.4

            	
              Notice
      of Redemption.

            

    

    
      
         

      

      
        -52-

        
          

        

      

      
         

      

    

    Notice of
redemption shall be given by first-class mail, postage prepaid, mailed not fewer
than 30 nor more than 60 days prior to the Redemption Date, unless a shorter
period is specified in the Securities to be redeemed, to each Holder of
Securities to be redeemed, at its address appearing in the Security
Register.

    

    All
notices of redemption shall state:

    

    
      	
               
      

            	
              (1)

            	
              the
      Redemption Date,

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      Redemption Price (including accrued interest, if
  any),

            

    

    

    
      	
               
      

            	
              (3)

            	
              if
      less than all the Outstanding Securities of any series consisting of more
      than a single Security are to be redeemed, the identification (and, in the
      case of partial redemption of any such Securities, the principal amounts)
      of the particular Securities to be redeemed and, if less than all the
      Outstanding Securities of any series consisting of a single Security are
      to be redeemed, the principal amount of the particular Security to be
      redeemed,

            

    

    

    
      	
               
      

            	
              (4)

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

            

    

    

    
      	
               
      

            	
              (5)

            	
              that
      on the Redemption Date the Redemption Price will become due and payable
      upon each such Security to be redeemed and, if applicable, that interest
      thereon will cease to accrue on and after said
  date,

            

    

    

    
      	
               
      

            	
              (6)

            	
              the
      place or places where each such Security is to be surrendered for payment
      of the Redemption Price,

            

    

    

    
      	
               
      

            	
              (7)

            	
              if
      applicable, the conversion price or the conversion rate, as the case may
      be, the date on which the right to convert the principal of the Securities
      or the portions thereof to be redeemed will terminate, and the place or
      places where such Securities may be surrendered for
      conversion,

            

    

    

    
      	
               
      

            	
              (8)

            	
              that
      the redemption is for a sinking fund, if such is the case,
    and

            

    

    

    
      	
               
      

            	
              (9)

            	
              the
      CUSIP number or numbers and/or common codes of the Security being
      redeemed; 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.

            

    

    

    Notice of
redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company’s request, by the Trustee in the name
and at the expense of the Company and shall be irrevocable.

    

    
      	
              Section
      11.5

            	
              Deposit
      of Redemption Price.

            

    

    
      
         

      

      
        -53-

        
          

        

      

      
         

      

    

    On or
prior to any Redemption Date, the Company shall deposit with the Trustee or with
a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate
and hold in trust as provided in Section 10.3) an amount of money sufficient to
pay the Redemption Price of, and (except if the Redemption Date shall be an
Interest Payment Date) accrued interest on, all the Securities which are to be
redeemed on that date.

    

    If any
Security called for redemption is converted, any money deposited with the
Trustee or with a Paying Agent or so segregated and held in trust for the
redemption of such Security shall (subject to the right of any Holder of such
Security to receive interest as provided in the last paragraph of Section 3.7)
be paid to the Company on Company Request, or if then held by the Company, shall
be discharged from such trust.

    

    
      	
              Section
      11.6

            	
              Securities
      Payable on Redemption Date.

            

    

    

    Notice of
redemption having been given as aforesaid, the Securities so to be redeemed
shall, on the Redemption Date, become due and payable at the Redemption Price
therein specified, and from and after such date (unless the Company shall
default in the payment of the Redemption Price and accrued interest) such
Securities shall cease to bear interest.  Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be
paid by the Company at the Redemption Price, together with accrued interest to
the Redemption Date; provided, however, that, unless otherwise specified as
contemplated by Section 3.1, installments of interest whose Stated Maturity is
on or prior to the Redemption Date will be payable to the Holders of such
Securities, or one or more Predecessor Securities, registered as such at the
close of business on the relevant Record Dates according to their terms and the
provisions of Section 3.7.

    

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

    

    
      	
              Section
      11.7

            	
              Securities
      Redeemed in Part.

            

    

    

    Any
Security which is to be redeemed only in part shall be surrendered at a Place of
Payment therefor (with, if the Company or the Trustee so requires, due
endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or its attorney
duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service
charge, a new Security or Securities of the same series and of like tenor, of
any authorized denomination as requested by such Holder, in aggregate principal
amount equal to and in exchange for the unredeemed portion of the principal of
the Security so surrendered.

    

    ARTICLE
12

    SINKING
FUNDS

    

    
      	
              Section
      12.1

            	
              Applicability
      of Article.

            

    

    

    The
provisions of this Article shall be applicable to any sinking fund for the
retirement of Securities of any series except as otherwise specified as
contemplated by Section 3.1 for such Securities.

    

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

    
      
         

      

      
        -54-

        
          

        

      

      
         

      

    

    
      	
              Section
      12.2

            	
              Satisfaction
      of Sinking Fund Payments with
Securities.

            

    

    

    The
Company (1) may deliver Outstanding Securities of a series (other than any
previously called for redemption) and (2) may apply as a credit Securities of a
series which 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 any
Securities of such series required to be made pursuant to the terms of such
Securities as and to the extent provided for by the terms of such Securities;
provided that the Securities to be so credited have not been previously so
credited.  The Securities to be so credited shall be received and
credited for such purpose by the Trustee at the Redemption Price, as specified
in the Securities so to be redeemed, for redemption through operation of the
sinking fund and the amount of such sinking fund payment shall be reduced
accordingly.

    

    
      	
              Section
      12.3

            	
              Redemption
      of Securities for Sinking Fund.

            

    

    

    Not fewer
than 60 days prior to each sinking fund payment date for any Securities, the
Company will deliver to the Trustee an Officers’ Certificate specifying the
amount of the next ensuing sinking fund payment for such Securities pursuant to
the terms of such Securities, the portion thereof, if any, which is to be
satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivering and crediting Securities pursuant to Section 12.2 and
will also deliver to the Trustee any Securities to be so
delivered.  Not fewer than 30 days prior to each such sinking fund
payment date, the Trustee shall select the Securities to be redeemed upon such
sinking fund payment date in the manner specified in Section 11.3 and cause
notice of the redemption thereof to be given in the name of and at the expense
of the Company in the manner provided in Section 11.4.  Such notice
having been duly given, the redemption of such Securities shall be made upon the
terms and in the manner stated in Sections 11.6 and 11.7.

    

    ARTICLE
13

    DEFEASANCE
AND COVENANT DEFEASANCE

    

    
      	
              Section
      13.1

            	
              Company’s
      Option to Effect Defeasance or Covenant
  Defeasance.

            

    

    

    The
Company may elect, at its option at any time, to have Section 13.2 or Section
13.3 applied to any Securities or any series of Securities, as the case may be,
designated pursuant to Section 3.1 as being defeasible pursuant to such Section
13.2 or 13.3, in accordance with any applicable requirements provided pursuant
to Section 3.1 and upon compliance with the conditions set forth below in this
Article.  Any such election shall be evidenced by a Board Resolution
or in another manner specified as contemplated by Section 3.1 for such
Securities.

    

    
      	
              Section
      13.2

            	
              Defeasance
      and Discharge.

            

    

    

    Upon the
Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be, the Company shall be
deemed to have been discharged from its obligations, and the provisions of
Article 15 shall cease to be effective, with respect to such Securities as
provided in this Section on and after the date the conditions set forth in
Section 13.4 are satisfied (hereinafter called “Defeasance”).  For
this purpose, such Defeasance means that the Company shall be deemed to have
paid and discharged the entire indebtedness represented by such Securities and
to have satisfied all its other obligations under such Securities and this
Indenture insofar as such Securities are concerned (and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging the
same), subject to the following which shall survive until otherwise terminated
or discharged hereunder:

    
      
         

      

      
        -55-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (1)

            	
              the
      rights of Holders of such Securities to receive, solely from the trust
      fund described in Section 13.4 and as more fully set forth in such
      Section, payments in respect of the principal of and any premium and
      interest on such Securities when payments are
  due,

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      Company’s obligations with respect to such Securities under Sections 3.4,
      3.5, 3.6, 10.2 and 10.3, and, if applicable, Article
  14,

            

    

    

    
      	
               
      

            	
              (3)

            	
              the
      rights, powers, trusts, duties and immunities of the Trustee hereunder,
      and

            

    

    

    
      	
               
      

            	
              (4)

            	
              this
      Article.

            

    

    

    Subject
to compliance with this Article, the Company may exercise its option (if any) to
have this Section applied to any Securities notwithstanding the prior exercise
of its option (if any) to have Section 13.3 applied to such
Securities.

    

    
      	
              Section
      13.3

            	
              Covenant
      Defeasance.

            

    

    

    Upon the
Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be,

    

    
      	
               
      

            	
              (1)

            	
              the
      Company shall be released from its obligations under any covenants
      provided pursuant to Sections 3.1(19), 9.1(2) or 9.1(7) for the benefit of
      the Holders of such Securities,

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      occurrence of any event specified in Section 5.1(4) (with respect to any
      such covenants provided pursuant to Section 3.1(19), 9.1(2) or 9.1(7)) and
      the occurrence of any other Event of Default specified pursuant to Section
      3.1 shall be deemed not to be or result in an Event of Default,
      and

            

    

    

    
      	
               
      

            	
              (3)

            	
              the
      provisions of Article 15 shall cease to be
  effective,

            

    

    

    in each
case with respect to such Securities or any series of Securities as provided in
this Section on and after the date the conditions set forth in Section 13.4 are
satisfied (hereinafter called “Covenant Defeasance”).  For this
purpose, such Covenant Defeasance means that, with respect to such Securities,
the Company may omit to comply with and shall have no liability in respect of
any term, condition or limitation set forth in any such specified Section (to
the extent so specified in the case of Section 5.1(4) and the occurrence of any
Event of Default specified pursuant to Section 3.1) or Article 15, whether
directly or indirectly by reason of any reference elsewhere herein to any such
Section or Article or by reason of any reference in any such Section or Article
to any other provision herein or in any other document, but the remainder of
this Indenture and such Securities shall be unaffected thereby.

    
      
         

      

      
        -56-

        
          

        

      

      
         

      

    

    
      	
              Section
      13.4

            	
              Conditions
      to Defeasance or Covenant
Defeasance.

            

    

    

    The
following shall be the conditions to the application of Section 13.2 or Section
13.3 to any Securities or any series of Securities, as the case may
be:

    

    
      	
               
      

            	
              (1)

            	
              The
      Company shall irrevocably have deposited or caused to be deposited with
      the Trustee (or another trustee which satisfies the requirements
      contemplated by Section 6.9 and agrees to comply with the provisions of
      this Article applicable to it) as trust funds in trust for the purpose of
      making the following payments, specifically pledged as security for, and
      dedicated solely to, the benefits of the Holders of such
      Securities,

            

    

    

    
      	
               
      

            	
              (A)

            	
              in
      the case of Securities of a series denominated in currency of the United
      States of America,

            

    

    

    
      	
               
      

            	
              (i)

            	
              cash
      in currency of the United States of America in an amount,
    or

            

    

    

    
      	
               
      

            	
              (ii)

            	
              U.S.
      Government Obligations which through the scheduled payment of principal
      and interest in respect thereof in accordance with their terms will
      provide, not later than one day before the due date of any payment, an
      amount in cash, or

            

    

    

    
      	
               
      

            	
              (iii)

            	
              a
      combination thereof, or

            

    

    

    
      	
               
      

            	
              (B)

            	
              in
      the case of Securities of a series denominated in currency other than that
      of the United States of America,

            

    

    

    
      	
               
      

            	
              (i)

            	
              cash
      in the currency in which such series of Securities is denominated in an
      amount, or

            

    

    

    
      	
               
      

            	
              (ii)

            	
              Foreign
      Government Obligations which through the scheduled payment of principal
      and interest in respect thereof in accordance with their terms will
      provide, not later than one day before the due date of any payment, an
      amount in cash, or

            

    

    

    
      	
               
      

            	
              (iii)

            	
              a
      combination thereof,

            

    

    

    in each
case sufficient, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the
Trustee, to pay and discharge, and which shall be applied by the Trustee (or any
such other qualifying trustee) to pay and discharge, the principal of and any
premium and interest on such Securities on the respective Stated Maturities, in
accordance with the terms of this Indenture and such Securities.

    

    (2)         
  For Securities denominated in United States dollars, in the event of
an election to have Section 13.2 apply to any Securities or any series of
Securities, as the case may be, the Company shall have delivered to the Trustee
an Opinion of Counsel stating that

    
      
         

      

      
        -57-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (A)

            	
              the
      Company has received from, or there has been published by, the Internal
      Revenue Service a ruling or

            

    

    

    
      	
               
      

            	
              (B)

            	
              since
      the date of this instrument, there has been a change in the applicable
      Federal income tax law,

            

    

    

    in either
case (A) or (B) to the effect that, and based thereon such opinion shall confirm
that, the Holders of such Securities will not recognize gain or loss for Federal
income tax purposes as a result of the deposit, Defeasance and discharge to be
effected with respect to such Securities and will be subject to Federal income
tax on the same amount, in the same manner and at the same times as would be the
case if such deposit, Defeasance and discharge were not to occur.

    

    
      	
               
      

            	
              (3)

            	
              For
      Securities denominated in United States dollars, in the event of an
      election to have Section 13.3 apply to any Securities or any series of
      Securities, as the case may be, the Company shall have delivered to the
      Trustee an Opinion of Counsel to the effect that the Holders of such
      Securities will not recognize gain or loss for Federal income tax purposes
      as a result of the deposit and Covenant Defeasance to be effected with
      respect to such Securities and will be subject to Federal income tax on
      the same amount, in the same manner and at the same times as would be the
      case if such deposit and Covenant Defeasance were not to
      occur.

            

    

    

    
      	
               
      

            	
              (4)

            	
              The
      Company shall have delivered to the Trustee an Officers’ Certificate to
      the effect that neither such Securities nor any other Securities of the
      same series, if then listed on any securities exchange, will be delisted
      as a result of such deposit.

            

    

    

    
      	
               
      

            	
              (5)

            	
              No
      event which is, or after notice or lapse of time or both would become, an
      Event of Default with respect to such Securities or any other Securities
      shall have occurred and be continuing at the time of such deposit or, with
      regard to any such event specified in Sections 5.1(5) and (6), at any time
      on or prior to the 90th day after the date of such deposit (it being
      understood that this condition shall not be deemed satisfied until after
      such 90th day).

            

    

    

    
      	
               
      

            	
              (6)

            	
              Such
      Defeasance or Covenant Defeasance shall not cause the Trustee to have a
      conflicting interest within the meaning of the Trust Indenture Act
      (assuming all Securities are in default within the meaning of such
      Act).

            

    

    

    
      	
               
      

            	
              (7)

            	
              Such
      Defeasance or Covenant Defeasance shall not result in a breach or
      violation of, or constitute a default under, this Indenture or any other
      agreement or instrument to which the Company is a party or by which it is
      bound.

            

    

    

    
      	
               
      

            	
              (8)

            	
              Such
      Defeasance or Covenant Defeasance shall not result in the trust arising
      from such deposit constituting an investment company within the meaning of
      the Investment Company Act unless such trust shall be registered under
      such Act or exempt from registration
thereunder.

            

    

    

    
      	
               
      

            	
              (9)

            	
              At
      the time of such deposit,

            

    

    

    
      	
               
      

            	
              (A)

            	
              no
      default in the payment of any principal of or premium or interest on any
      Senior Debt shall have occurred and be
  continuing,

            

    

    
      
         

      

      
        -58-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (B)

            	
              no
      event of default with respect to any Senior Debt shall have resulted in
      such Senior Debt becoming, and continuing to be, due and payable prior to
      the date on which it would otherwise have become due and payable (unless
      payment of such Senior Debt has been made or duly provided for),
      and

            

    

    

    
      	
               
      

            	
              (C)

            	
              no
      other event of default with respect to any Senior Debt shall have occurred
      and be continuing permitting (after notice or lapse of time or both) the
      holders of such Senior Debt (or a trustee on behalf of such holders) to
      declare such Senior Debt due and payable prior to the date on which it
      would otherwise have become due and
payable.

            

    

    

    
      	
               
      

            	
              (10)

            	
              The
      Company shall have delivered to the Trustee an Officers’ Certificate and
      an Opinion of Counsel, each stating that all conditions precedent with
      respect to such Defeasance or Covenant Defeasance have been complied
      with.

            

    

    

    Section
13.5          Deposited Money,
U.S. Government Obligations and Foreign Government Obligations to be Held in
Trust; Miscellaneous Provisions.

    

    Subject
to the provisions of the last paragraph of Section 10.3, all money, U.S.
Government Obligations and Foreign Government Obligations (including the
proceeds thereof) deposited with the Trustee or other qualifying trustee (solely
for purposes of this Section and Section 13.6, the Trustee and any such other
trustee are referred to collectively as the “Trustee”) pursuant to Section 13.4
in respect of any Securities shall be held in trust and applied by the Trustee,
in accordance with the provisions of such Securities and this Indenture, to the
payment, either directly or through any such Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Holders of
such Securities, of all sums due and to become due thereon in respect of
principal and any premium and interest, but money so held in trust need not be
segregated from other funds except to the extent required by
law.  Money, U.S. Government Obligations and Foreign Government
Obligations so held in trust shall not be subject to the provisions of Article
15.

    

    The
Company shall pay and indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against the U.S. Government Obligations or Foreign
Government Obligations deposited pursuant to Section 13.4 or the principal and
interest received in respect thereof other than any such tax, fee or other
charge which by law is for the account of the Holders of Outstanding
Securities.

    

    Anything
in this Article to the contrary notwithstanding, the Trustee shall deliver or
pay to the Company from time to time upon Company Request any money, U.S.
Government Obligations or Foreign Government Obligations held by it as provided
in Section 13.4 with respect to any Securities which, in the opinion of a
nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, are in excess of the
amount thereof which would then be required to be deposited to effect the
Defeasance or Covenant Defeasance, as the case may be, with respect to such
Securities.

    

    
      	
              Section
      13.6

            	
              Reinstatement.

            

    

    

    If the
Trustee or the Paying Agent is unable to apply any money in accordance with this
Article with respect to any Securities by reason of any order or judgment of any
court or governmental authority enjoining, restraining or otherwise prohibiting
such application, then the obligations under this Indenture and such Securities
from which the Company has been discharged or released pursuant to Section 13.2
or 13.3 shall be revived and reinstated as though no deposit had occurred
pursuant to this Article with respect to such Securities, until such time as the
Trustee or Paying Agent is permitted to apply all money held in trust pursuant
to Section 13.5 with respect to such Securities in accordance with this Article;
provided, however, that if the Company makes any payment of principal of or any
premium or interest on any such Security following such reinstatement of its
obligations, the Company shall be subrogated to the rights (if any) of the
Holders of such Securities to receive such payment from the money so held in
trust.

    
      
         

      

      
        -59-

        
          

        

      

      
         

      

    

    ARTICLE
14

    CONVERSION
OF SECURITIES

    

    
      	
              Section
      14.1

            	
              Applicability
      of Article.

            

    

    

    The
provisions of this Article shall be applicable to the Securities of any series
which are convertible into shares of Common Stock of the Company, and the
issuance of such shares of Common Stock upon the conversion of such Securities,
except as otherwise specified as contemplated by Section 3.1 for the Securities
of such series or in a supplemental indenture for Securities of such
series.

    

    
      	
              Section
      14.2

            	
              Exercise
      of Conversion Privilege.

            

    

    

    In order
to exercise a conversion privilege, the Holder of a Security of a series with
such a privilege shall surrender such Security to the Company at the office or
agency maintained for that purpose pursuant to Section 10.2, accompanied by a
duly executed conversion notice to the Company substantially in the form set
forth in Section 2.6 stating that the Holder elects to convert such Security or
a specified portion thereof.  Such notice shall also state, if
different from the name and address of such Holder, the name or names (with
address) in which the certificate or certificates for shares of Common Stock,
which shall be issuable on such conversion, shall be
issued.  Securities surrendered for conversion shall (if so required
by the Company or the Trustee) be duly endorsed by or accompanied by instruments
of transfer in forms satisfactory to the Company and the Trustee duly executed
by the Holder or its attorney duly authorized in writing.  As promptly
as practicable after the receipt of such notice and of any payment required
pursuant to a Board Resolution and, subject to Section 3.3, set forth, or
determined in the manner provided, in an Officers’ Certificate, or established
in one or more indentures supplemental hereto setting forth the terms of such
series of Security, and the surrender of such Security in accordance with such
reasonable regulations as the Company may prescribe, the Company shall issue and
shall deliver, at the office or agency at which such Security is surrendered, to
such Holder or on its written order, a certificate or certificates for the
number of full shares of Common Stock issuable upon the conversion of such
Security (or specified portion thereof), in accordance with the provisions of
such Board Resolution, Officers’ Certificate or supplemental indenture, and cash
as provided therein in respect of any fractional share of such Common Stock
otherwise issuable upon such conversion.  Such conversion shall be
deemed to have been effected immediately prior to the close of business on the
date on which such notice and such payment, if required, shall have been
received in proper order for conversion by the Company and such Security shall
have been surrendered as aforesaid (unless such Holder shall have so surrendered
such Security and shall have instructed the Company to effect the conversion on
a particular date following such surrender and such Holder shall be entitled to
convert such Security on such date, in which case such conversion shall be
deemed to be effected immediately prior to the close of business on such date)
and at such time the rights of the Holder of such Security as such Security
Holder shall cease and the person or persons in whose name or names any
certificate or certificates for shares of Common Stock of the Company shall be
issuable upon such conversion shall be deemed to have become the Holder or
Holders of record of the shares represented thereby.  Except as set
forth above and subject to the final paragraph of Section 3.7, no payment or
adjustment shall be made upon any conversion on account of any interest accrued
on the Securities (or any part thereof) surrendered for conversion or on account
of any dividends on the Common Stock of the Company issued upon such
conversion.

    
      
         

      

      
        -60-

        
          

        

      

      
         

      

    

    In the
case of any Security which is converted in part only, upon such conversion the
Company shall execute and the Trustee shall authenticate and deliver to or on
the order of the Holder thereof, at the expense of the Company, a new Security
or Securities of the same series, of authorized denominations, in aggregate
principal amount equal to the unconverted portion of such Security.

    

    
      	
              Section
      14.3

            	
              No
      Fractional Shares.

            

    

    

    No
fractional share of Common Stock of the Company shall be issued upon conversions
of Securities of any series.  If more than one Security shall be
surrendered for conversion at one time by the same Holder, the number of full
shares which shall be issuable upon conversion shall be computed on the basis of
the aggregate principal amount of the Securities (or specified portions thereof
to the extent permitted hereby) so surrendered.  If, except for the
provisions of this Section 14.3, any Holder of a Security or Securities would be
entitled to a fractional share of Common Stock of the Company upon the
conversion of such Security or Securities, or specified portions thereof, the
Company shall pay to such Holder an amount in cash equal to the current market
value of such fractional share computed, (i) if such Common Stock is listed or
admitted to unlisted trading privileges on a national securities exchange or
market, on the basis of the last reported sale price regular way on such
exchange or market on the last trading day prior to the date of conversion upon
which such a sale shall have been effected, or (ii) if such Common Stock is not
at the time so listed or admitted to unlisted trading privileges on a national
securities exchange or market, on the basis of the average of the bid and asked
prices of such Common Stock in the over- the-counter market, on the last trading
day prior to the date of conversion, as reported by the National Quotation
Bureau, Incorporated or similar organization if the National Quotation Bureau,
Incorporated is no longer reporting such information, or if not so available,
the fair market price as determined by the Board of Directors.  For
purposes of this Section, “trading day” shall mean each Monday, Tuesday,
Wednesday, Thursday and Friday other than any day on which the Common Stock is
not traded on the Nasdaq National Market, or if the Common Stock is not traded
on the Nasdaq National Market, on the principal exchange or market on which the
Common Stock is traded or quoted.

    

    
      	
              Section
      14.4

            	
              Adjustment
      of Conversion Price or Conversion
Rate.

            

    

    

    The
conversion price or conversion rate, as the case may be, of Securities of any
series that is convertible into Common Stock of the Company shall be adjusted
for any stock dividends, stock splits, reclassifications, combinations or
similar transactions in accordance with the terms of the supplemental indenture
or Board Resolutions setting forth the terms of the Securities of such
series.

    

    Whenever
the conversion price or conversion rate, as the case may be, is adjusted, the
Company shall compute the adjusted conversion price or conversion rate, as the
case may be, in accordance with terms of the applicable Board Resolution or
supplemental indenture and shall prepare an Officers’ Certificate setting forth
the adjusted conversion price or conversion rate, as the case may be, and
showing in reasonable detail the facts upon which such adjustment is based, and
such certificate shall forthwith be filed at each office or agency maintained
for the purpose of conversion of Securities pursuant to Section 10.2 and, if
different, with the Trustee.  The Company shall forthwith cause a
notice setting forth the adjusted conversion price or conversion rate, as the
case may be, to be mailed, first class postage prepaid, to each Holder of
Securities of such series at its address appearing on the Security Register and
to any conversion agent other than the Trustee.

    
      
         

      

      
        -61-

        
          

        

      

      
         

      

    

    
      	
              Section
      14.5

            	
              Notice
      of Certain Corporate Actions.

            

    

    

    In
case:

    

    
      	
               
      

            	
              (1)

            	
              the
      Company shall declare a dividend (or any other distribution) on its Common
      Stock payable otherwise than in cash out of its retained earnings (other
      than a dividend for which approval of any shareholders of the Company is
      required) that would require an adjustment pursuant to Section 14.4;
      or

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      Company shall authorize the granting to all or substantially all of the
      holders of its Common Stock of rights, options or warrants to subscribe
      for or purchase any shares of capital stock of any class or of any other
      rights (other than any such grant for which approval of any shareholders
      of the Company is required); or

            

    

    

    
      	
               
      

            	
              (3)

            	
              of
      any reclassification of the Common Stock of the Company (other than a
      subdivision or combination of its outstanding shares of Common Stock, or
      of any consolidation, merger or share exchange to which the Company is a
      party and for which approval of any shareholders of the Company is
      required), or of the sale of all or substantially all of the assets of the
      Company; or

            

    

    

    
      	
               
      

            	
              (4)

            	
              of
      the voluntary or involuntary dissolution, liquidation or winding up of the
      Company;

            

    

    

    then the
Company shall cause to be filed with the Trustee, and shall cause to be mailed
to all Holders at their last addresses as they shall appear in the Security
Register, at least 20 days (or 10 days in any case specified in clause (1) or
(2) above) prior to the applicable record date hereinafter specified, a notice
stating (i) the date on which a record is to be taken for the purpose of such
dividend, distribution, rights, options or warrants, or, if a record is not to
be taken, the date as of which the holders of Common Stock of record to be
entitled to such dividend, distribution, rights, options or warrants are to be
determined, or (ii) the date on which such reclassification, consolidation,
merger, share exchange, sale, dissolution, liquidation or winding up is expected
to become effective, and the date as of which it is expected that holders of
Common Stock of record shall be entitled to exchange their shares of Common
Stock for securities, cash or other property deliverable upon such
reclassification, consolidation, merger, share exchange, sale, dissolution,
liquidation or winding up.  If at any time the Trustee shall not be
the conversion agent, a copy of such notice shall also forthwith be filed by the
Company with the Trustee.

    

    
      	
              Section
      14.6

            	
              Reservation
      of Shares of Common Stock.

            

    

    

    The
Company shall at all times reserve and keep available, free from preemptive
rights, out of its authorized but unissued Common Stock, for the purpose of
effecting the conversion of Securities, the full number of shares of Common
Stock of the Company then issuable upon the conversion of all outstanding
Securities of any series that has conversion rights.

    

    
      	
              Section
      14.7

            	
              Payment
      of Certain Taxes upon
Conversion.

            

    

    
      
         

      

      
        -62-

        
          

        

      

      
         

      

    

    Except as
provided in the next sentence, the Company will pay any and all taxes that may
be payable in respect of the issue or delivery of shares of its Common Stock on
conversion of Securities pursuant hereto.  The Company shall not,
however, be required to pay any tax which may be payable in respect of any
transfer involved in the issue and delivery of shares of its Common Stock in a
name other than that of the Holder of the Security or Securities to be
converted, and no such issue or delivery shall be made unless and until the
person requesting such issue has paid to the Company the amount of any such tax,
or has established, to the satisfaction of the Company, that such tax has been
paid.

    

    
      	
              Section
      14.8

            	
              Nonassessability.

            

    

    

    The
Company covenants that all shares of its Common Stock that may be issued upon
conversion of Securities will upon issue in accordance with the terms hereof be
duly and validly issued and fully paid and nonassessable.

    

    
      	
              Section
      14.9

            	
              Provision
      in Case of Consolidation, Merger or Sale of
  Assets.

            

    

    

    In case
of any consolidation or merger of the Company with or into any other Person, any
merger of another Person with or into the Company (other than a merger which
does not result in any reclassification, conversion, exchange or cancellation of
outstanding shares of Common Stock of the Company) or any conveyance, sale,
transfer or lease of all or substantially all of the assets of the Company, the
Person formed by such consolidation or resulting from such merger or which
acquires such assets, as the case may be, shall execute and deliver to the
Trustee a supplemental indenture providing that the Holder of each Security of a
series then Outstanding that is convertible into Common Stock of the Company
shall have the right thereafter (which right shall be the exclusive conversion
right thereafter available to said Holder), during the period such Security
shall be convertible, to convert such Security only into the kind and amount of
securities, cash and other property receivable upon such consolidation, merger,
conveyance, sale, transfer or lease by a holder of the number of shares of
Common Stock of the Company into which such Security might have been converted
immediately prior to such consolidation, merger, conveyance, sale, transfer or
lease, assuming such holder of Common Stock of the Company (i) is not a Person
with which the Company consolidated or merged with or into or which merged into
or with the Company or to which such conveyance, sale, transfer or lease was
made, as the case may be (a “Constituent Person”), or an Affiliate of a
Constituent Person and (ii) failed to exercise his rights of election, if any,
as to the kind or amount of securities, cash and other property receivable upon
such consolidation, merger, conveyance, sale, transfer or lease (provided that
if the kind or amount of securities, cash and other property receivable upon
such consolidation, merger, conveyance, sale, transfer, or lease is not the same
for each share of Common Stock of the Company held immediately prior to such
consolidation, merger, conveyance, sale, transfer or lease by others than a
Constituent Person or an Affiliate thereof and in respect of which such rights
of election shall not have been exercised (“Non-electing Share”), then for the
purpose of this Section 14.9 the kind and amount of securities, cash and other
property receivable upon such consolidation, merger, conveyance, sale, transfer
or lease by the holders of each Non-electing Share shall be deemed to be the
kind and amount so receivable per share by a plurality of the Non-electing
Shares).  Such supplemental indenture shall provide for adjustments
which, for events subsequent to the effective date of such supplemental
indenture, shall be as nearly equivalent as may be practicable to the
adjustments provided for in this Article or in accordance with the terms of the
supplemental indenture or Board Resolutions setting forth the terms of such
adjustments.  The above provisions of this Section 14.9 shall
similarly apply to successive consolidations, mergers, conveyances, sales,
transfers or leases.  Notice of the execution of such a supplemental
indenture shall be given by the Company to the Holder of each Security of a
series that is convertible into Common Stock of the Company as provided in
Section 1.6 promptly upon such execution.

    
      
         

      

      
        -63-

        
          

        

      

      
         

      

    

    Neither
the Trustee nor any conversion agent, if any, shall be under any responsibility
to determine the correctness of any provisions contained in any such
supplemental indenture relating either to the kind or amount of shares of stock
or other securities or property or cash receivable by Holders of Securities of a
series convertible into Common Stock of the Company upon the conversion of their
Securities after any such consolidation, merger, conveyance, transfer, sale or
lease or to any such adjustment, but may accept as conclusive evidence of the
correctness of any such provisions, and shall be protected in relying upon, an
Opinion of Counsel with respect thereto, which the Company shall cause to be
furnished to the Trustee upon request.

    

    
      	
              Section
      14.10

            	
              Duties
      of Trustee Regarding Conversion.

            

    

    

    Neither
the Trustee nor any conversion agent shall at any time be under any duty or
responsibility to any Holder of Securities of any series that is convertible
into Common Stock of the Company to determine whether any facts exist which may
require any adjustment of the conversion price or conversion rate, as the case
may be, or with respect to the nature or extent of any such adjustment when
made, or with respect to the method employed, whether herein or in any
supplemental indenture, any resolutions of the Board of Directors or written
instrument executed by one or more officers of the Company provided to be
employed in making the same.  Neither the Trustee nor any conversion
agent shall be accountable with respect to the validity or value (or the kind or
amount) of any shares of Common Stock of the Company, or of any securities or
property, which may at any time be issued or delivered upon the conversion of
any Securities and neither the Trustee nor any conversion agent makes any
representation with respect thereto.  Subject to the provisions of
Section 6.1, neither the Trustee nor any conversion agent shall be responsible
for any failure of the Company to issue, transfer or deliver any shares of its
Common Stock or stock certificates or other securities or property upon the
surrender of any Security for the purpose of conversion or to comply with any of
the covenants of the Company contained in this Article 14 or in the applicable
supplemental indenture, resolutions of the Board of Directors or written
instrument executed by one or more duly authorized officers of the
Company.

    

    
      	
              Section
      14.11

            	
              Repayment
      of Certain Funds upon Conversion.

            

    

    

    Any funds
which at any time shall have been deposited by the Company or on its behalf with
the Trustee or any other paying agent for the purpose of paying the principal
of, and premium, if any, and interest, if any, on any of the Securities
(including, but not limited to, funds deposited for the sinking fund referred to
in Article 12 hereof and funds deposited pursuant to Article 13 hereof) and
which shall not be required for such purposes because of the conversion of such
Securities as provided in this Article 14 shall after such conversion be repaid
to the Company by the Trustee upon the Company’s written request.

    

    ARTICLE
15

    SUBORDINATION
OF SECURITIES

    

    
      	
              Section
      15.1

            	
              Agreement
      of Subordination.

            

    

    

    Except as
otherwise provided in a supplemental indenture or pursuant to Section 3.1, the
Company covenants and agrees, and each Holder of Securities issued hereunder by
its acceptance thereof likewise covenants and agrees, that all Securities shall
be issued subject to the provisions of this Article 15; and each Person holding
any Security, whether upon original issue or upon transfer, assignment or
exchange thereof, accepts and agrees to be bound by such
provisions.

    
      
         

      

      
        -64-

        
          

        

      

      
         

      

    

    The
payment of the principal of, premium, if any, and interest on all Securities
(including, but not limited to, the redemption price with respect to the
Securities called for redemption in accordance with Article 11 as provided in
the Indenture) issued hereunder shall, to the extent and in the manner
hereinafter set forth, be subordinated and subject in right of payment to the
prior payment in full of all Senior Debt, whether outstanding at the date of
this Indenture or thereafter incurred.

    

    No
provision of this Article 15 shall prevent the occurrence of any default or
Event of Default hereunder.

    

    
      	
              Section
      15.2

            	
              Payments
      to Holders.

            

    

    

    No
payment shall be made with respect to the principal of, or premium, if any, or
interest on the Securities (including, but not limited to, the redemption price
with respect to the Securities to be called for redemption in accordance with
Article 11 as provided in the Indenture), except payments and distributions made
by the Trustee as permitted by the first or second paragraph of Section 15.5,
if:

    

    (i) a
default in the payment of principal, premium, if any, interest, rent or other
obligations due on any Senior Debt occurs and is continuing (or, in the case of
Senior Debt for which there is a period of grace, in the event of such a default
that continues beyond the period of grace, if any, specified in the instrument
or lease evidencing such Senior Debt) (a “Payment Default”), unless and until
such default shall have been cured or waived or shall have ceased to exist;
or

    

    (ii) a
default, other than a Payment Default, on any Designated Senior Debt occurs and
is continuing that then permits holders of such Designated Senior Debt to
accelerate its maturity and the Trustee receives a notice of the default (a
“Payment Blockage Notice”) from a holder of Designated Senior Debt, a
Representative of Designated Senior Debt or the Company (a “Non-Payment
Default”).

    

    If the
Trustee receives any Payment Blockage Notice pursuant to clause (ii) above, no
subsequent Payment Blockage Notice shall be effective for purposes of this
Section unless and until at least 365 days shall have elapsed since the initial
effectiveness of the immediately prior Payment Blockage Notice.  No
Non-Payment Default that existed or was continuing on the date of delivery of
any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a
subsequent Payment Blockage Notice.

    

    The
Company may and shall resume payments on and distributions in respect of the
Securities upon the earlier of:

    

    
      	
               
      

            	
              (1)

            	
              in
      the case of any Payment Default, the date upon which the Payment Default
      is cured or waived or ceases to exist,
or

            

    

    

    
      	
               
      

            	
              (2)

            	
              in
      the case of a Non-Payment Default, the earlier of (a) the date upon which
      such Non-Payment Default is cured, waived or ceases to exist or (b) 179
      days after the date on which the applicable Payment Blockage Notice is
      received by the Trustee, unless this Article 15 otherwise prohibits the
      payment or distribution at such
time.

            

    

    
      
         

      

      
        -65-

        
          

        

      

      
         

      

    

    Upon any
payment or distribution of assets of the Company of any kind or character,
whether in cash, property or securities, to creditors upon any dissolution or
winding-up or liquidation or reorganization of the Company, whether voluntary or
involuntary or in bankruptcy, insolvency, reorganization, liquidation,
receivership or other proceedings, or upon an assignment for the benefit of
creditors or any marshalling of the assets and liabilities of the Company, or
otherwise, all amounts due or to become due upon all Senior Debt shall first be
paid in full in cash or other payment satisfactory to the holders of such Senior
Debt, or payment thereof in accordance with its terms provided for in cash or
other payment satisfactory to the holders of such Senior Debt, before any
payment is made on account of the principal of, premium, if any, or interest on
the Securities (except payments made pursuant to Article 4 from monies deposited
with the Trustee pursuant thereto prior to commencement of proceedings for such
dissolution, winding-up, liquidation, reorganization, assignment for the benefit
of creditors or the marshalling of assets and liabilities of the Company); and
upon any such dissolution, winding-up, liquidation, reorganization, assignment
for the benefit of creditors or marshalling of assets and liabilities of the
Company or bankruptcy, insolvency, receivership or other proceeding, any payment
by the Company, or distribution of assets of the Company of any kind or
character, whether in cash, property or securities, to which the Holders of the
Securities or the Trustee would be entitled, except for the provision of this
Article 15, shall (except as aforesaid) be paid by the Company or by any
receiver, trustee in bankruptcy, liquidating trustee, agent or other Person
making such payment or distribution, or by the Holders of the Securities or by
the Trustee under this Indenture if received by them or it, directly to the
holders of Senior Debt (pro rata to such holders on the basis of the respective
amounts of Senior Debt held by such holders, or as otherwise required by law or
a court order) or their Representative or Representatives, or to the trustee or
trustees under any indenture pursuant to which any instruments evidencing any
Senior Debt may have been issued, as their respective interests may appear, to
the extent necessary to pay all Senior Debt in full, in cash or other payment
satisfactory to the holders of such Senior Debt, after giving effect to any
concurrent payment or distribution to or for the holders of Senior Debt, before
any payment or distribution or provision therefor is made to the Holders of the
Securities or to the Trustee.

    

    For
purposes of this Article 15, the words, “cash, property or securities” shall not
be deemed to include shares of stock of the Company as reorganized or
readjusted, or securities of the Company or any other corporation provided for
by a plan of reorganization or readjustment, the payment of which is
subordinated at least to the extent provided in this Article 15 with respect to
the Securities to the payment of all Senior Debt which may at the time be
outstanding; provided that (i) the Senior Debt is assumed by the new
corporation, if any, resulting from any reorganization or readjustment, and (ii)
the rights of the holders of Senior Debt (other than leases which are not
assumed by the Company or the new corporation, as the case may be) are not,
without the consent of such holders, altered by such reorganization or
readjustment.  The consolidation of the Company with, or the merger of
the Company into, another corporation or the liquidation or dissolution of the
Company following the conveyance or transfer of its property as an entirety, or
substantially as an entirety, to another corporation upon the terms and
conditions provided for in Article 8 shall not be deemed a dissolution,
winding-up, liquidation or reorganization for the purposes of this Section 15.2
if such other corporation shall, as a part of such consolidation, merger,
conveyance or transfer, comply with the conditions stated in Article
8.

    

    In the
event of the acceleration of the Securities because of an Event of Default, no
payment or distribution shall be made to the Trustee or any Holder of Securities
in respect of the principal of, premium, if any, or interest on the Securities
(including, but not limited to, the redemption price with respect to the
Securities called for redemption in accordance with Article 11 as provided in
the Indenture), except payments and distributions made by the Trustee as
permitted by the first or second paragraph of Section 15.5, until all Senior
Debt has been paid in full in cash or other payment satisfactory to the holders
of Senior Debt or such acceleration is rescinded in accordance with the terms of
this Indenture.  If payment of the Securities is accelerated because
of an Event of Default, the Company shall promptly notify holders of Senior Debt
of the acceleration.

    
      
         

      

      
        -66-

        
          

        

      

      
         

      

    

    In the
event that, notwithstanding the foregoing provisions, any payment or
distribution of assets of the Company of any kind or character, whether in cash,
property or securities (including, without limitation, by way of setoff or
otherwise), prohibited by the foregoing, shall be received by the Trustee or the
Holders of the Securities before all Senior Debt is paid in full in cash or
other payment satisfactory to the holders of such Senior Debt, or provision is
made for such payment thereof in accordance with its terms in cash or other
payment satisfactory to the holders of such Senior Debt, such payment or
distribution shall be held in trust for the benefit of and shall be paid over or
delivered to the holders of Senior Debt or their Representative or
Representatives, or to the trustee or trustees under any indenture pursuant to
which any instruments evidencing any Senior Debt may have been issued, as their
respective interests may appear, as calculated by the Company, for application
to the payment of all Senior Debt remaining unpaid to the extent necessary to
pay all Senior Debt in full in cash or other payment satisfactory to the holders
of such Senior Debt, after giving effect to any concurrent payment or
distribution to or for the holders of such Senior Debt.

    

    Nothing
in this Section 15.2 shall apply to claims of, or payments to, the Trustee under
or pursuant to Section 6.7.  This Section 15.2 shall be subject to the
further provisions of Section 15.5.

    

    
      	
              Section
      15.3

            	
              Subrogation
      of Securities.

            

    

    

    Subject
to the payment in full of all Senior Debt, the rights of the Holders of the
Securities shall be subrogated to the extent of the payments or distributions
made to the holders of such Senior Debt pursuant to the provisions of this
Article 15 (equally and ratably with the holders of all indebtedness of the
Company which by its express terms is subordinated to other indebtedness of the
Company to substantially the same extent as the Securities are subordinated and
is entitled to like rights of subrogation) to the rights of the holders of
Senior Debt to receive payments or distributions of cash, property or securities
of the Company applicable to the Senior Debt until the principal, premium, if
any, and interest on the Securities shall be paid in full; and, for the purposes
of such subrogation, no payments or distributions to the holders of the Senior
Debt of any cash, property or securities to which the Holders of the Securities
or the Trustee would be entitled except for the provisions of this Article 15,
and no payment over pursuant to the provisions of this Article 15, to or for the
benefit of the holders of Senior Debt by Holders of the Securities or the
Trustee, shall, as between the Company, its creditors other than holders of
Senior Debt, and the Holders of the Securities, be deemed to be a payment by the
Company to or on account of the Senior Debt; and no payments or distributions of
cash, property or securities to or for the benefit of the Holders of the
Securities pursuant to the subrogation provisions of this Article 15, which
would otherwise have been paid to the holders of Senior Debt shall be deemed to
be a payment by the Company to or for the account of the
Securities.  It is understood that the provisions of this Article 15
are and are intended solely for the purposes of defining the relative rights of
the Holders of the Securities, on the one hand, and the holders of the Senior
Debt, on the other hand.

    

    Nothing
contained in this Article 15 or elsewhere in this Indenture or in the Securities
is intended to or shall impair, as among the Company, its creditors other than
the holders of Senior Debt, and the Holders of the Securities, the obligation of
the Company, which is absolute and unconditional, to pay to the Holders of the
Securities the principal of (and premium, if any) and interest on the Securities
as and when the same shall become due and payable in accordance with their
terms, or is intended to or shall affect the relative rights of the Holders of
the Securities and creditors of the Company other than the holders of the Senior
Debt, nor shall anything herein or therein prevent the Trustee or the Holder of
any Security from exercising all remedies otherwise permitted by applicable law
upon default under this Indenture, subject to the rights, if any, under this
Article 15 of the holders of Senior Debt in respect of cash, property or
securities of the Company received upon the exercise of any such
remedy.

    
      
         

      

      
        -67-

        
          

        

      

      
         

      

    

    Upon any
payment or distribution of assets of the Company referred to in this Article 15,
the Trustee, subject to the provisions of Section 6.1, and the Holders of the
Securities shall be entitled to rely upon any order or decree made by any court
of competent jurisdiction in which such bankruptcy, dissolution, winding-up,
liquidation or reorganization proceedings are pending, or a certificate of the
receiver, trustee in bankruptcy, liquidating trustee, agent or other person
making such payment or distribution, delivered to the Trustee or to the Holders
of the Securities, for the purpose of ascertaining the persons entitled to
participate in such distribution, the holders of the Senior Debt and other
indebtedness of the Company, the amount thereof or payable thereon and all other
facts pertinent thereto or to this Article 15.

    

    
      	
              Section
      15.4

            	
              Authorization
      to Effect Subordination.

            

    

    

    Each
Holder of a Security by the holder’s acceptance thereof authorizes and directs
the Trustee on the holder’s behalf to take such action as may be necessary or
appropriate to effectuate the subordination as provided in this Article 15 and
appoints the Trustee to act as the holder’s attorney-in-fact for any and all
such purposes.  If the Trustee does not file a proper proof of claim
or proof of debt in the form required in any proceeding referred to in Section
5.4 hereof at least 30 days before the expiration of the time to file such
claim, the holders of any Senior Debt or their representatives are hereby
authorized to file an appropriate claim for and on behalf of the Holders of the
Securities.

    

    
      	
              Section
      15.5

            	
              Notice
      to Trustee.

            

    

    

    The
Company shall give prompt written notice in the form of an Officers’ Certificate
to a Responsible Officer of the Trustee and to any Paying Agent of any fact
known to the Company which would prohibit the making of any payment of monies to
or by the Trustee or any Paying Agent in respect of the Securities pursuant to
the provisions of this Article 15.  Notwithstanding the provisions of
this Article 15 or any other provision of this Indenture, the Trustee shall not
be charged with knowledge of the existence of any facts which would prohibit the
making of any payment of monies to or by the Trustee in respect of the
Securities pursuant to the provisions of this Article 15, unless and until a
Responsible Officer of the Trustee shall have received written notice thereof at
the Corporate Trust Office from the Company (in the form of an Officers’
Certificate) or a Representative or a holder or holders of Senior Debt or from
any trustee therefor; and before the receipt of any such written notice, the
Trustee, subject to the provisions of Section 6.1, shall be entitled in all
respects to assume that no such facts exist; provided that if on a date not
fewer than two Business Days prior to the date upon which by the terms hereof
any such monies may become payable for any purpose (including, without
limitation, the payment of the principal of, or premium, if any, or interest on
any Security) the Trustee shall not have received, with respect to such monies,
the notice provided for in this Section 15.5, then, anything herein contained to
the contrary notwithstanding, the Trustee shall have full power and authority to
receive such monies and to apply the same to the purpose for which they were
received, and shall not be affected by any notice to the contrary which may be
received by it on or after such prior date.

    

    Notwithstanding
anything in this Article 15 to the contrary, nothing shall prevent any payment
by the Trustee to the Holders of monies deposited with it pursuant to Section
4.1, and any such payment shall not be subject to the provisions of Section 15.1
or 15.2.

    

    The
Trustee, subject to the provisions of Section 6.1, shall be entitled to rely on
the delivery to it of a written notice by a Representative or a person
representing himself to be a holder of Senior Debt (or a trustee on behalf of
such holder) to establish that such notice has been given by a Representative or
a holder of Senior Debt or a trustee on behalf of any such holder or
holders.  The Trustee shall not be required to make any payment or
distribution to or on behalf of a holder of Senior Debt pursuant to this Article
15 unless it has received satisfactory evidence as to the amount of Senior Debt
held by such person, the extent to which such person is entitled to participate
in such payment or distribution and any other facts pertinent to the rights of
such person under this Article 15.

    
      
         

      

      
        -68-

        
          

        

      

      
         

      

    

    
      	
              Section
      15.6

            	
              Trustee’s
      Relation to Senior Debt.

            

    

    

    The
Trustee in its individual capacity shall be entitled to all the rights set forth
in this Article 15 in respect of any Senior Debt at any time held by it, to the
same extent as any other holder of Senior Debt, and nothing in this Indenture
shall deprive the Trustee of any of its rights as such holder.

    

    With
respect to the holders of Senior Debt, the Trustee undertakes to perform or to
observe only such of its covenants and obligations as are specifically set forth
in this Article 15, and no implied covenants or obligations with respect to the
holders of Senior Debt shall be read into this Indenture against the
Trustee.  The Trustee shall not be deemed to owe any fiduciary duty to
the holders of Senior Debt and, subject to the provisions of Section 6.1, the
Trustee shall not be liable to any holder of Senior Debt (i) for any failure to
make any payments or distributions to such holders or (ii) if it shall pay over
or deliver to Holders of Securities, the Company or any other Person money or
assets to which any holder of Senior Debt shall be entitled by virtue of this
Article 15 or otherwise.

    

    
      	
              Section
      15.7

            	
              No
      Impairment of Subordination.

            

    

    

    No right
of any present or future holder of any Senior Debt to enforce subordination as
herein provided shall at any time in any way be prejudiced or impaired by any
act or failure to act on the part of the Company or by any act or failure to
act, in good faith, by any such holder, or by any noncompliance by the Company,
the Trustee or any Holder of Securities with the terms, provisions and covenants
of this Indenture, regardless of any knowledge thereof which any such holder may
have or otherwise be charged with.

    

    
      	
              Section
      15.8

            	
              Certain
      Conversions/Exchanges Deemed
Payment.

            

    

    

    For the
purposes of this Article 15 only, (1) the issuance and delivery of junior
securities upon conversion or exchange of Securities in accordance with Article
14 or otherwise (except upon conversion of the Securities in accordance with
their terms) shall not be deemed to constitute a payment or distribution on
account of the principal of (or premium, if any) or interest on Securities or on
account of the purchase or other acquisition of Securities, and (2) the payment,
issuance or delivery of cash (except in satisfaction of fractional shares
pursuant to Section 14.3), property or securities (other than junior securities)
upon conversion or exchange of a Security shall be deemed to constitute payment
on account of the principal of such Security.  For the purposes of
this Section 15.8, the term “junior securities” means (a) shares of any stock of
any class of the Company, or (b) securities of the Company which are
subordinated in right of payment to all Senior Debt which may be outstanding at
the time of issuance or delivery of such securities to substantially the same
extent as, or to a greater extent than, the Securities are so subordinated as
provided in this Article.  Nothing contained in this Article 15 or
elsewhere in this Indenture or in the Securities is intended to or shall impair,
as among the Company, its creditors other than holders of Senior Debt and the
Holders of Securities, the right, which is absolute and unconditional, of the
Holder of any Security to convert such Security in accordance with Article
14.

    

    
      	
              Section
      15.9

            	
              Article
      Applicable to Paying Agents.

            

    

    
      
         

      

      
        -69-

        
          

        

      

      
         

      

    

    If at any
time any Paying Agent other than the Trustee shall have been appointed by the
Company and be then acting hereunder, the term “Trustee” as used in this Article
shall (unless the context otherwise requires) be construed as extending to and
including such Paying Agent within its meaning as fully for all intents and
purposes as if such Paying Agent were named in this Article in addition to or in
place of the Trustee; provided, however, that the first paragraph of Section
15.5 shall not apply to the Company or any Affiliate of the Company if the
Company or such Affiliate acts as Paying Agent.

    

    The
Trustee shall not be responsible for the actions or inactions of any other
Paying Agents (including the Company if acting as its own Paying Agent) and
shall have no control of any funds held by such other Paying
Agents.

    

    
      	
              Section
      15.10

            	
              Senior
      Debt Entitled to Rely.

            

    

    

    The
holders of Senior Debt (including, without limitation, Designated Senior Debt)
shall have the right to rely upon this Article 15, and no amendment or
modification of the provisions contained herein shall diminish the rights of
such holders unless such holders shall have agreed in writing
thereto.

    

    
      	
              Section
      15.11

            	
              Reliance
      on Judicial Order or Certificate of Liquidating
  Agent.

            

    

    

    Upon any
payment or distribution of assets of the Company referred to in this Article,
the Trustee and the Holders shall be entitled to rely upon any order or decree
entered by any court of competent jurisdiction in which such dissolution,
winding up, liquidation, reorganization, assignment for the benefit of creditors
or marshalling of assets and liabilities of the Company or bankruptcy,
insolvency, receivership or other like proceeding is pending, or a certificate
of the trustee in bankruptcy, liquidating trustee, custodian, receiver, assignee
for the benefit of creditors, agent or other person making such payment or
distribution, delivered to the Trustee or to the Holders, for the purpose of
ascertaining the persons entitled to participate in such payment or
distribution, the holders of Senior Debt and other indebtedness of the Company,
the amount thereof or payable thereon, the amount or amounts paid or distributed
thereon and all other facts pertinent thereto or to this Article.

    

    
      	
              Section
      15.12

            	
              Trust
      Monies Not Subordinated.

            

    

    

    Notwithstanding
anything contained herein to the contrary, payments from money, U.S. Government
Obligations and/or Foreign Government Obligations held in trust under Article 4
or Article 13 by the Trustee for the payment of the principal of, premium, if
any, and interest on the Securities shall not be subordinated to the prior
payment in full of any Senior Debt of the Company or subject to the restrictions
set forth in this Article 15, and none of the Holders shall be obligated to pay
over any such amount to the Company or any holder of Senior Debt of the Company
or any other creditor of the Company.

    

    [The
remainder of this page is intentionally left blank.]

    

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

    

    
      
        
          
            
              
                	 
      	
                        OCCULOGIX,
      INC.

                      
	 
      	 
      	 
      
	 
      	
                        By:

                      	 
      
	 
      	
                        Title

                      	 
      

              

            

          

        

      

    

    
      
         

      

      
        -70-

        
          

        

      

      
         

      

    

     

    
      
        
          
            
              
                
                  
                    
                      	 
      	
                              _______________,

                            
	 
      	
                                 as
      Trustee

                            
	 
      	 
      	 
      
	 
      	
                              By:

                            	 
      
	 
      	
                              Title

                            	 
      

                    

                  

                

              

            

          

        

      

    

     

     

    -71-ex4_11.htm

    
      

    

    Exhibit
4.11

     

    SUBSCRIPTION
AGREEMENT

     

    

     

    OccuLogix,
Inc.

    12707
High Bluff Drive, 2nd Floor

    San
Diego, CA  92130

    

    

    Gentlemen:

    

    The
undersigned (the “Investor”) hereby confirms
its agreement with you as follows:

     

    1.       
    This Subscription Agreement, including the Terms
and Conditions For Purchase of  Units attached hereto as Annex I (collectively, this
“Agreement”), is made
as of the date set forth below between OccuLogix, Inc., a Delaware corporation
(the “Company”), and
the Investor.

     

    2.      
     The Company has authorized the sale and
issuance to certain investors of up to an aggregate of [_________] units (the
“Units”), each
consisting of [(i)] one share (the “Share,” collectively the
“Shares”) of its common
stock (the “Common
Stock”)[, and (ii) a warrant expiring on the date that is [___________]
from the Closing Date (the “Warrant,” collectively the
“Warrants”) to purchase
[__] shares of Common Stock (the fraction amount being the “Warrant Ratio”), subject to
adjustment by the Company’s Board of Directors, or a committee thereof,] for a
purchase price of $[____] per Unit (the “Purchase Price”)[, reflecting
a price of $[___] per Share and $[___] per Warrant].  [The Shares
issuable upon the exercise of the Warrants are referred to herein as the “Warrant
Shares.”  The Warrant Shares, together with the Shares and the
Warrants, are referred to herein as the “Securities.”]

     

    3.      
     The offering and sale of the Units (the
“Offering”) are being
made pursuant to (1) an effective Registration Statement on Form S-3 (including
the Prospectus contained therein (the “Base Prospectus”), the “Registration Statement”)
filed by the Company with the Securities and Exchange Commission (the “Commission”), (2) if
applicable, certain “free writing prospectuses” (as that term is defined in Rule
405 under the Securities Act of 1933, as amended (the “Act”)), that have or will be
filed with the Commission and delivered to the Investor on or prior to the date
hereof and (3) a Preliminary Prospectus Supplement to the Base Prospectus dated
___________ __, 20__ (the “Preliminary Prospectus”), and
(4) a Final Prospectus Supplement (the “Prospectus Supplement” and
together with the Base Prospectus, the “Prospectus”) containing
certain supplemental information regarding the Units and terms of the offering
that will be filed with the Commission and delivered to the Investor (or made
available to the Investor by the filing by the Company of an electronic version
thereof with the Commission).

     

    4.       
    The Company and the Investor agree that the
Investor will purchase from the Company and the Company will issue and sell to
the Investor the number of Units set forth below for the aggregate purchase
price set forth below.  The Units shall be purchased pursuant to the
Terms and Conditions for Purchase of Units attached hereto as Annex I and
incorporated herein by this reference as if fully set forth
herein.  The Investor acknowledges that the Offering is not being
underwritten by the placement agent (the “Placement Agent”) named in
the Prospectus Supplement and that there is no minimum offering
amount.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.          
 The manner of settlement of the Shares included in the Units
purchased by the Investor shall be determined by such Investor as follows (check
one):

     

    
      	
              [____]

            	
              A.

            	
              Delivery
      by crediting the account of the Investor’s prime broker (as specified by
      such Investor on Exhibit A
      annexed hereto) through the Depository Trust Company’s (“DTC”)
      Deposit/Withdrawal At Custodian (“DWAC”) system, whereby
      Investor’s prime broker shall initiate a DWAC transaction on the Closing
      Date using its DTC participant identification number, and the Shares are
      released by [insert name
      of transfer agent], the Company’s transfer agent (the “Transfer Agent”), at
      the Company’s direction.  NO LATER THAN ONE (1) BUSINESS
      DAY AFTER THE EXECUTION OF THIS AGREEMENT BY THE INVESTOR AND THE COMPANY,
      THE INVESTOR SHALL:

            

    

     

    
      	
               
      

            	
              (I)

            	
              DIRECT
      THE BROKER-DEALER AT WHICH THE ACCOUNT OR ACCOUNTS TO BE CREDITED WITH THE
      SHARES ARE MAINTAINED TO SET UP A DWAC INSTRUCTING THE TRANSFER AGENT TO
      CREDIT SUCH ACCOUNT OR ACCOUNTS WITH THE SHARES,
  AND

            

    

     

    
      	
               
      

            	
              (II)

            	
              REMIT
      BY WIRE TRANSFER THE AMOUNT OF FUNDS EQUAL TO THE AGGREGATE PURCHASE PRICE
      FOR THE UNITS BEING PURCHASED BY THE INVESTOR TO THE FOLLOWING
      ACCOUNT:

            

    

    

    
      
        	
                [Escrow
      Agent]

              
	
                ABA
      #
      [           ]

              
	
                Account
      Name:
      [              ]

              
	
                Account
      Number: [_______________]

              

      

    

     

    – OR
–

     

    
      	
              [____]

            	
              B.

            	
              Delivery
      versus payment (“DVP”) through DTC
      (i.e., the Company shall deliver Shares registered in the Investor’s name
      and address as set forth below and released by the Transfer Agent to the
      Investor through DTC at the Closing directly to the account(s) at
      [____________] (“Placement Agent”)
      identified by the Investor and simultaneously therewith payment shall be
      made by the Placement Agent via wire transfer to the
      Company).  NO
      LATER THAN ONE (1) BUSINESS DAY AFTER THE EXECUTION OF THIS AGREEMENT BY
      THE INVESTOR AND THE COMPANY, THE INVESTOR
  SHALL:

            

    

     

    
      	
               
      

            	
              (I)

            	
              NOTIFY THE PLACEMENT AGENT OF
      THE ACCOUNT OR ACCOUNTS TO BE CREDITED WITH THE SHARES BEING PURCHASED BY
      SUCH INVESTOR, AND

            

    

     

    
      	
               
      

            	
              (II)

            	
              CONFIRM
      THAT THE ACCOUNT OR ACCOUNTS TO BE CREDITED WITH THE SHARES BEING
      PURCHASED BY THE INVESTOR HAVE A MINIMUM BALANCE EQUAL TO THE AGGREGATE
      PURCHASE PRICE FOR THE UNITS BEING PURCHASED BY THE
    INVESTOR.

            

    

     

    IT IS THE INVESTOR’S
RESPONSIBILITY TO (A) MAKE THE NECESSARY WIRE TRANSFER OR CONFIRM THE PROPER
ACCOUNT BALANCE IN A TIMELY MANNER AND (B) ARRANGE FOR SETTLEMENT BY WAY OF DWAC
OR DVP IN A TIMELY MANNER.  IF THE INVESTOR DOES NOT DELIVER THE
AGGREGATE PURCHASE PRICE FOR THE UNITS OR DOES NOT MAKE PROPER ARRANGEMENTS FOR
SETTLEMENT IN A TIMELY MANNER, THE SHARES AND WARRANTS MAY NOT BE DELIVERED AT
CLOSING TO THE INVESTOR OR THE INVESTOR MAY BE EXCLUDED FROM THE CLOSING
ALTOGETHER.

    
      
         

      

      
        - 2
-

        
          

        

      

      
         

      

    

    6.      
     The executed Warrant shall be delivered in
accordance with the terms thereof.

     

    7.     
      The Investor represents that, except as set
forth below, (a) it has had no position, office or other material relationship
within the past three years with the Company or persons known to it to be
affiliates of the Company, (b) it is not a FINRA member or an Associated Person
(as such term is defined under the NASD Membership and Registration Rules
Section 1011) as of the Closing, and (c) neither the Investor nor any group of
Investors (as identified in a public filing made with the Commission) of which
the Investor is a part in connection with the Offering of the Units, acquired,
or obtained the right to acquire, 20% or more of the Common Stock (or securities
convertible into or exercisable for Common Stock) or the voting power of the
Company on a post-transaction basis.  Exceptions:

     

    
      
        

      

    

    (If no
exceptions, write “none.” If left blank, response will be deemed to be
“none.”)

     

    8.            The
Investor represents that it has received (or otherwise had made available to it
by the filing by the Company of an electronic version thereof with the
Commission) the Base Prospectus, dated ___________ __, 20__, which is a part of
the Company’s Registration Statement, the Preliminary Prospectus, the documents
incorporated by reference therein and any free writing prospectus (collectively,
the “Disclosure
Package”), prior to or in connection with the receipt of this
Agreement.  The Investor acknowledges that, prior to the delivery of
this Agreement to the Company, the Investor will receive certain additional
information regarding the Offering, including pricing information (the “Offering Information”). Such
information may be provided to the Investor by any means permitted under the
Act, including in the Prospectus Supplement, a free writing prospectus or oral
communications.

     

    9.         
   No offer by the Investor to buy Units will be accepted
and no part of the Purchase Price will be delivered to the Company until the
Investor has received the Offering Information and the Company has accepted such
offer by countersigning a copy of this Agreement, and any such offer may be
withdrawn or revoked, without obligation or commitment of any kind, at any time
prior to the Company (or the Placement Agent on behalf of the Company) sending
(orally, in writing or by electronic mail) notice of its acceptance of such
offer.  An indication of interest will involve no obligation or
commitment of any kind until the Investor has been delivered the Offering
Information and this Agreement is accepted and countersigned by or on behalf of
the Company.

    
      
         

      

      
        - 3
-

        
          

        

      

      
         

      

    

     

    
      
        
          
            
              
                	
                        Number
      of Units:

                      	 
      
	
                        Purchase
      Price Per Unit:      $

                      	 
      
	
                        Aggregate
      Purchase Price: $   

                      	 
      

              

            

          

        

      

    

     

    Please
confirm that the foregoing correctly sets forth the agreement between us by
signing in the space provided below for that purpose.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    	 
      	 	 	
                                                            Dated
      as of: __________ ___, 20__

                                                          
	 
      	 	 	 	 
      
	 
      	 	 	 	 
      
	 
      	 	 	
                                                            INVESTOR

                                                          	 
      
	 
      	 	 	
                                                            By:

                                                          	 
      
	 
      	 	 	
                                                            Print
      Name:

                                                          	 
      
	 
      	 	 	
                                                            Title:

                                                          	 
      
	 
      	 	 	
                                                            Address:

                                                          	 
      
	 
      	 	 	 
      
	 
      	 	 	 
      
	 
      	 	 	 
      
	
                                                            Agreed
      and Accepted

                                                          	 	 
      
	
                                                            this
      ___ day of _______________, 20__:

                                                          	 	 
      
	 
      	 	 	 
      
	
                                                            OCCULOGIX,
      INC.

                                                          	 	 
      
	 	 	 	 
      
	
                                                            By:

                                                          	 	 	 
      
	
                                                            Title:

                                                          	 	 
      

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        - 4
-

        
          

        

      

      
         

      

    

    ANNEX I

     

    TERMS
AND CONDITIONS FOR PURCHASE OF UNITS

    OF

    OCCULOGIX,
INC.

    

     

    1.     
      Authorization and Sale of the
Units.  Subject to the terms and conditions of this Agreement,
the Company has authorized the sale of the Units, which consists of the Shares
[and the Warrants].

     

    2.      
     Agreement to Sell and Purchase the Units;
Placement Agent.

     

    2.1           At
the Closing (as defined in Section 3.1), the
Company will sell to the Investor, and the Investor will purchase from the
Company, upon the terms and conditions set forth herein, the number of Units set
forth on the last page of the Agreement to which these Terms and Conditions for
Purchase of Units are attached as Annex I (the “Signature Page”) for the
aggregate purchase price therefor set forth on the Signature Page.

     

    2.2           The
Company proposes to enter into substantially this same form of Subscription
Agreement with certain other investors (the “Other Investors”) and expects
to complete sales of Units to them.  The Investor and the Other
Investors are hereinafter sometimes collectively referred to as the “Investors,” and this
Agreement and the Subscription Agreements executed by the Other Investors are
hereinafter sometimes collectively referred to as the “Agreements.”

    

    2.3           The
Investor acknowledges that the Company has agreed to pay [__________________]
(the “Placement Agent”)
a fee (the “Placement
Fee”) in respect of the sale of Units to the Investor.

    

    2.4           The
Company has entered into a Placement Agent Agreement, dated ___________ __, 20__
(the “Placement
Agreement”), with the Placement Agent that contains certain
representations, warranties, covenants and agreements of the Company that may be
relied upon by the Investor, which shall be a third party beneficiary
thereof.

    

    3.         
  Closings and Delivery of the Units and Funds.

     

    3.1           Closing.  The completion of
the purchase and sale of the Units (the “Closing”) shall occur at a
place and time (the “Closing
Date”) to be specified by the Company and the Placement Agent, and of
which the Investors will be notified in advance by the Placement Agent, in
accordance with Rule 15c6-1 promulgated under the Securities Exchange Act of
1934, as amended (the “Exchange Act”).  At
the Closing, (a) the Company shall cause the Transfer Agent to deliver to the
Investor the number of Shares (and Units) set forth on the Signature Page
registered in the name of the Investor or, if so indicated on the Investor
Questionnaire attached hereto as Exhibit A, in the
name of a nominee designated by the Investor, [(b) the Company shall cause to be
delivered to the Investor a Warrant to purchase a number of whole Warrant Shares
determined by multiplying the number of Shares (and Units) set forth on the
signature page by the Warrant Ratio and rounding down to the nearest whole
number,] and [(c)] the aggregate purchase price for the Units being purchased by
the Investor will be delivered by or on behalf of the Investor to the
Company.

    
      
         

      

      
        - 5
-

        
          

        

      

      
         

      

    

    3.2           Conditions
to the Company’s Obligations.  (a)  The
Company’s obligation to issue and sell the Units to the Investor shall be
subject to: (i) the receipt by the Company of the purchase price for the Units
being purchased hereunder as set forth on the Signature Page and (ii) the
accuracy of the representations and warranties made by the Investor and the
fulfillment of those undertakings of the Investor to be fulfilled prior to the
Closing Date.

    

    (b)           Conditions
to the Investor’s Obligations.  The Investor’s
obligation to purchase the Units will be subject to the accuracy of the
representations and warranties made by the Company and the fulfillment of those
undertakings of the Company to be fulfilled prior to the Closing Date, including
without limitation, those contained in the Placement Agreement, and to the
condition that the Placement Agent shall not have: (a) terminated the Placement
Agreement pursuant to the terms thereof, or (b) determined that the conditions
to the closing in the Placement Agreement have not been
satisfied.  The Investor’s obligations are expressly not conditioned
on the purchase by any or all of the Other Investors of the Units that they have
agreed to purchase from the Company.

    

    3.3           Delivery
of Funds.

    

    (a)           Delivery by Electronic
Book-Entry at The Depository Trust Company.  If the Investor
elects to settle the Shares purchased by such Investor through delivery by
electronic book-entry at DTC, no later
than one (1) business day after the execution of this Agreement by the Investor
and the Company, the Investor shall remit by wire transfer the amount of
funds equal to the aggregate purchase price for the Units being purchased by the
Investor to the following account designated by the Company and the Placement
Agent pursuant to the terms of that certain Escrow Agreement (the “Escrow Agreement”) dated as
of ___________ __, 20__, by and among the Company, the Placement Agent and
[________] (the “Escrow
Agent”):

    

    
      
        
          
            	
                    [Escrow
      Agent]

                  
	
                    ABA
      # [_______]

                  
	
                    Account
      Name: [__________]

                  
	
                    Account
      Number: [_____________]

                  

          

        

      

    

    

    Such
funds shall be held in escrow until the Closing and delivered by the Escrow
Agent on behalf of the Investors to the Company upon the satisfaction, in the
sole judgment of the Placement Agent, of the conditions set forth in Section
3.2(b) hereof.  Except with respect to the Placement Fee, the
Placement Agent shall have no rights in or to any of the escrowed funds, unless
the Placement Agent and the Escrow Agent are otherwise notified in writing by
the Company in connection with the Closing.  The Company and the
Investor agree to indemnify and hold the Escrow Agent harmless from and against
any and all losses, costs, damages, expenses and claims (including, without
limitation, court costs and reasonable attorneys fees) (“Losses”) arising under this
Section 3.3 or
otherwise with respect to the funds held in escrow pursuant hereto or arising
under the Escrow Agreement, unless it is finally determined that such Losses
resulted directly from the willful misconduct or gross negligence of the Escrow
Agent.  Anything in this Agreement to the contrary notwithstanding, in
no event shall the Escrow Agent be liable for any special, indirect or
consequential loss or damage of any kind whatsoever (including but not limited
to lost profits), even if the Escrow Agent has been advised of the likelihood of
such loss or damage and regardless of the form of action.

    

    (b)           Delivery Versus Payment
through The Depository Trust Company.  If the Investor elects
to settle the Shares purchased by such Investor by delivery versus payment
through DTC, no later
than one (1) business day after the execution of this Agreement by the Investor
and the Company, the Investor shall confirm that the account or accounts
at Placement Agent to be credited with the Shares being purchased by the
Investor have a minimum balance equal to the aggregate purchase price for the
Shares being purchased by the Investor.

    
      
         

      

      
        - 6
-

        
          

        

      

      
         

      

    

    3.4           Delivery
of Shares.

    

    (a)           Delivery by Electronic
Book-Entry at The Depository Trust Company.  If the Investor
elects to settle the Shares purchased by such Investor through delivery by
electronic book-entry at DTC, no later
than one (1) business day after the execution of this Agreement by the Investor
and the Company, the Investor shall direct the broker-dealer at which the
account or accounts to be credited with the Shares being purchased by such
Investor are maintained, which broker/dealer shall be a DTC participant, to set
up a Deposit/Withdrawal at Custodian (“DWAC”) instructing the Transfer Agent, to
credit such account or accounts with the Shares by means of an electronic
book-entry delivery.  Such DWAC shall indicate the settlement date for
the deposit of the Shares, which date shall be provided to the Investor by the
Placement Agent.  Simultaneously with the delivery to the Company by
the Escrow Agent of the funds held in escrow pursuant to Section 3.3 above,
the Company shall direct its Transfer Agent to credit the Investor’s account or
accounts with the Shares pursuant to the information contained in the
DWAC.

    

    (b)           Delivery Versus Payment
through The Depository Trust Company.  If the Investor elects
to settle the Shares purchased by such Investor by delivery versus payment
through DTC, no later
than one (1) business day after the execution of this Agreement by the Investor
and the Company, the Investor shall notify the Placement Agent of the
account or accounts at the Placement Agent to be credited with the Shares being
purchased by such Investor.  On the Closing Date, the Company shall
deliver the Shares to the Investor through DTC directly to the account or
accounts at the Placement Agent identified by Investor and simultaneously
therewith payment shall be made by the Placement Agent via wire transfer to the
Company.

    

    4.       
     Representations, Warranties and Covenants of the
Investor.

     

    The
Investor acknowledges, represents and warrants to, and agrees with, the Company
and the Placement Agent that:

    4.1           The
Investor (a) is knowledgeable, sophisticated and experienced in making, and is
qualified to make decisions with respect to, investments in shares presenting an
investment decision like that involved in the purchase of the Units, including
investments in securities issued by the Company and investments in comparable
companies, (b) has answered all questions on the Signature Page and the Investor
Questionnaire for use in preparation of the Prospectus Supplement and the
answers thereto are true and correct as of the date hereof and will be true and
correct as of the Closing Date, and (c) in connection with its decision to
purchase the number of Units set forth on the Signature Page, has received and
is relying solely upon (i) the Disclosure Package and the documents incorporated
by reference therein and (ii) the Offering Information.

    
      
         

      

      
        - 7
-

        
          

        

      

      
         

      

    

    4.2           The
Investor acknowledges that (a) no action has been or will be taken in any
jurisdiction outside the United States by the Company or the Placement Agent
that would permit an offering of the Units, or possession or distribution of
offering materials in connection with the issue of the Securities in any
jurisdiction outside the United States where action for that purpose is
required, (b) if the Investor is outside the United States, it will comply with
all applicable laws and regulations in each foreign jurisdiction in which it
purchases, offers, sells or delivers Securities or has in its possession or
distributes any offering material, in all cases at its own expense and (c) the
Placement Agent is not authorized to make and has not made any representation,
disclosure or use of any information in connection with the issue, placement,
purchase and sale of the Units, except as set forth or incorporated by reference
in the Base Prospectus, the Disclosure Package or the Prospectus
Supplement.

     

    4.3           The
Investor acknowledges that (a) the Investor has full right, power, authority and
capacity to enter into this Agreement and to consummate the transactions
contemplated hereby and has taken all necessary action to authorize the
execution, delivery and performance of this Agreement, and (b) this Agreement
constitutes a valid and binding obligation of the Investor enforceable against
the Investor in accordance with its terms, except as enforceability may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting creditors’ and contracting parties’ rights generally and
except as enforceability may be subject to general principles of equity
(regardless of whether such enforceability is considered in a proceeding in
equity or at law) and except as to the enforceability of any rights to
indemnification or contribution that may be violative of the public policy
underlying any law, rule or regulation (including any federal or state
securities law, rule or regulation).

     

    4.4           The
Investor understands that nothing in this Agreement, the Disclosure Package, the
Prospectus or any other materials presented to the Investor in connection with
the purchase and sale of the Units constitutes legal, tax or investment
advice.  The Investor has consulted such legal, tax and investment
advisors as it, in its sole discretion, has deemed necessary or appropriate in
connection with its purchase of Units.

     

    4.5           Since
the date on which the Placement Agent first contacted such Investor about the
Offering, Investor has not engaged in any transactions in the securities of the
Company (including, without limitation, any Short Sales (as defined below)
involving the Company’s securities).  Each Investor covenants that it
will not engage in any transactions in the securities of the Company (including
Short Sales) prior to the time that the transactions contemplated by this
Agreement are publicly disclosed.  Each Investor agrees that it will
not use any of the Shares acquired pursuant to this Agreement to cover any short
position in the Common Stock if doing so would be in violation of applicable
securities laws.  For purposes hereof, “Short Sales” include, without
limitation, all “short sales” as defined in Rule 200 promulgated under
Regulation SHO under the Exchange Act, whether or not against the box, and all
types of direct and indirect stock pledges, forward sales contracts, options,
puts, calls, short sales, swaps, “put equivalent positions” (as defined in Rule
16a-1(h) under the Exchange Act) and similar arrangements (including on a total
return basis), and sales and other transactions through non-US broker dealers or
foreign regulated brokers.

     

    5.       
     Survival of Representations, Warranties and
Agreements; Third Party Beneficiary.  Notwithstanding any
investigation made by any party to this Agreement or by the Placement Agent, all
covenants, agreements, representations and warranties made by the Company and
the Investor herein will survive the execution of this Agreement, the delivery
to the Investor of the Units being purchased and the payment
therefor.  The Placement Agent shall be a third party beneficiary with
respect to the representations, warranties and agreements of the Investor in
Section 4 hereof.

     

    
      
         

      

      
        - 8
-

        
          

        

      

      
         

      

    

    6.          
  Notices.  All notices, requests, consents and other
communications hereunder will be in writing, will be mailed (a) if within the
domestic United States by first-class registered or certified airmail, or
nationally recognized overnight express courier, postage prepaid, or by
facsimile or (b) if delivered from outside the United States, by International
Federal Express or facsimile, and will be deemed given (i) if delivered by
first-class registered or certified mail domestic, three business days after so
mailed, (ii) if delivered by nationally recognized overnight carrier, one
business day after so mailed, (iii) if delivered by International Federal
Express, two business days after so mailed and (iv) if delivered by facsimile,
upon electric confirmation of receipt and will be delivered and addressed as
follows:

     

    
      	
               
      

            	
              (a)

            	
              if to the Company,
      to:

            

    

     

    OccuLogix,
Inc.

    12707
High Bluff Drive, 2nd Floor

    San
Diego, California  92130

    Attention:
CEO

    Facsimile:
(858) 794-1493

     

    with a copy
to:

     

    Martin J.
Waters, Esq.

    Wilson
Sonsini Goodrich & Rosati PC

    12235 El
Camino Real, Suite 200

    San
Diego, California 92130

    

    (b)       if
to the Investor, at its address on the Signature Page hereto, or at such other
address or addresses as may have been furnished to the Company in
writing.

     

    7.          
  Changes.  This Agreement may not be modified or
amended except pursuant to an instrument in writing signed by the Company and
the Investor.

     

    8.       
     Headings.  The headings of the
various sections of this Agreement have been inserted for convenience of
reference only and will not be deemed to be part of this Agreement.

     

    9.          
  Severability.  In case any provision contained in
this Agreement should be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein will not in any way be affected or impaired thereby.

     

    10.           Governing
Law.  This Agreement will be governed by, and construed in
accordance with, the internal laws of the State of New York, without giving
effect to the principles of conflicts of law that would require the application
of the laws of any other jurisdiction.

     

    11.           Counterparts.  This
Agreement may be executed in any number of counterparts, each of which will
constitute an original, but all of which, when taken together, will constitute
but one instrument, and will become effective when one or more counterparts have
been signed by each party hereto and delivered to the other
parties.  The Company and the Investor acknowledge and agree that the
Company shall deliver its counterpart to the Investor along with the Base
Prospectus and the Prospectus Supplement (or the filing by the Company of an
electronic version thereof with the Commission).

    
      
         

      

      
        - 9
-

        
          

        

      

      
         

      

    

    12.           Confirmation
of Sale.  The Investor acknowledges and agrees that such
Investor’s receipt of the Company’s counterpart to this Agreement, together with
the Base Prospectus and the Prospectus Supplement (or the filing by the Company
of an electronic version thereof with the Commission), shall constitute written
confirmation of the Company’s sale of Units to such Investor.

     

    13.           Press
Release.  The Company and the Investor agree that the Company
shall issue a press release announcing the Offering prior to the opening of the
financial markets in New York City on the business day immediately after the
date hereof.

     

    14.           Termination.  In
the event that the Placement Agreement is terminated by the Placement Agent
pursuant to the terms thereof, this Agreement shall terminate without any
further action on the part of the parties hereto.

    
      
         

      

      
        - 10
-

        
          

        

      

      
         

      

    

    Exhibit
A

     

    OCCULOGIX,
INC.

     

    INVESTOR
QUESTIONNAIRE

     

    Pursuant
to Section 3 of
Annex I to the
Agreement, please provide us with the following information:

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          	
                                                  1.

                                                	
                                                  The
      exact name that your Shares and Warrants are to be registered in. You may
      use a nominee name if appropriate:

                                                	 	 
      	 
	 
      	 
      	 	 
      	 
	
                                                  2.

                                                	
                                                  The
      relationship between the Investor and the registered holder listed in
      response to item 1 above:

                                                	 	 
      	 
	
                                                   
      

                                                	 
      	 	 
      	 
	
                                                  3.

                                                	
                                                  The
      mailing address of the registered holder listed in response to item 1
      above:

                                                	 	 
      	 
	 
      	 
      	 	 
      	 
	
                                                  4.

                                                	
                                                  The
      Social Security Number or Tax Identification Number of the registered
      holder listed in the response to item 1 above:

                                                	 	 
      	 
	 
      	 
      	 	 
      	 
	
                                                  5.

                                                	
                                                  Name
      of DTC Participant (broker-dealer at which the account or accounts to be
      credited with the Shares are maintained):

                                                	 	 
      	 
	
                                                   
      

                                                	 
      	 	 
      	 
	
                                                  6.

                                                	
                                                  DTC
      Participant Number:

                                                	 	 
      	 
	
                                                   
      

                                                	 
      	 	 
      	 
	
                                                  7.

                                                	
                                                  Name
      of Account at DTC Participant being credited with the
    Shares:

                                                	 	 
      	 
	 
      	 
      	 	 
      	 
	
                                                  8.

                                                	
                                                  Account
      Number at DTC Participant being credited with the Shares:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}]]