Document:

inta-ex1024_865.htm

 

			
	
 
	
 
	
Exhibit 10.24

	
 
	

	
 

 

 

Mr. Ralph Baxter

Ralph Baxter, Inc.

37 Hamilton Avenue

Wheeling, WV 26003

 

June 23, 2022

 

RE: Seventh Amendment to Consulting Agreement dated March 1, 2016

 

Dear Ralph:

 

This Seventh Amendment (the “Seventh Amendment”) amends the previously signed Consulting Agreement by and between Integration Appliance, Inc. (“Company”) and Ralph Baxter, Inc. (“Consultant”) dated March 1, 2016, and amended on April 28, 2017, January 1, 2019, April 30, 2019, December 18, 2019, June 16, 2020, and on June 20, 2021 (as amended, the “Agreement”).

 

1. The parties agree to extend the term of the Agreement. Therefore, Section 6(c) of the Agreement shall be deleted in its entirety and replaced as follows:

 

“(c) Expiration. Unless terminated earlier, this Agreement will expire on June 30, 2023.”

 

Unless otherwise specified, capitalized terms used herein shall have the meanings set forth in the Agreement. This Seventh Amendment may be executed in multiple counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument. A facsimile or pdf signature shall be considered valid as if an original signature.

 

Except as specifically amended by this Seventh Amendment, the Agreement remains in full force and effect. To the extent that there is any conflict between the provisions of this Seventh Amendment and the Agreement, the provisions of this Seventh Amendment shall prevail.

 

IN WITNESS WHEREOF, the parties, through the signatures below of their duly authorized officers, have executed this Seventh Amendment as of the dates set forth below.

 

		
	
RALPH BAXTER, INC.
	
INTEGRATION APPLIANCE, INC.

 

					
	
By:
	
/s/ Ralph Baxter
	
 
	
By:
	
/s/ Steven Todd

	
Name:
	
Ralph Baxter
	
 
	
Name:
	
Steven Todd

	
Title:
	
Principal
	
 
	
Title:
	
SVP and General Counsel

	
Date:
	
June 23, 2022
	
 
	
Date:
	
June 23, 2022

	
 
	
 
	
 
	
 
	
 

 

 

 

 

Page 1 of 1sdc_exx41xformofindentur

    ===================================================================    SMILEDIRECTCLUB, INC.    ----------    INDENTURE    Dated as of  [             ]    ----------  DEBT SECURITIES    [     ]  Trustee    ===================================================================  

 

   i      Reconciliation and tie between  Trust Indenture Act of 1939 and Indenture*  Trust Indenture  Act Section  Indenture Section  § 310 (a) 11.04(a), 16.02   (b) 11.01(f), 11.04(b), 11.05(1),     16.02   (b)(1) 11.04(b), 16.02  § 311  11.01(f), 16.02  § 312  14.02(d), 16.02   (b) 11.10, 16.02   (c) 11.10, 16.02  § 313 (a) 10.01(a), 16.02  § 314  16.02  § 315 (e) 11.05, 16.02  § 316  16.02  § 317  16.02  § 318  16.02    *This reconciliation and tie shall not, for any purpose, be deemed to be a part of the Indenture.  

 

   i      TABLE OF CONTENTS*  PAGE  ARTICLE I    DEFINITIONS  Section 1.01 Definitions................................................................................................................1  ARTICLE II    FORMS OF SECURITIES  Section 2.01 Terms of the Securities ..........................................................................................11  Section 2.02 Form of Trustee’s Certificate of Authentication ....................................................12  Section 2.03 Form of Trustee’s Certificate of Authentication by an Authenticating  Agent ......................................................................................................................12  ARTICLE III    THE DEBT SECURITIES  Section 3.01 Amount Unlimited; Issuable in Series ...................................................................13  Section 3.02 Denominations .......................................................................................................16  Section 3.03 Execution, Authentication, Delivery and Dating ...................................................16  Section 3.04 Temporary Securities .............................................................................................18  Section 3.05 Registrar .................................................................................................................19  Section 3.06 Transfer and Exchange ..........................................................................................19  Section 3.07 Mutilated, Destroyed, Lost and Stolen Securities ..................................................23  Section 3.08 Payment of Interest; Interest Rights Preserved ......................................................24  Section 3.09 Cancellation ...........................................................................................................25  Section 3.10 Computation of Interest .........................................................................................25  Section 3.11 Currency of Payments in Respect of Securities .....................................................26  Section 3.12 Judgments ..............................................................................................................26  Section 3.13 CUSIP Numbers.....................................................................................................27  ARTICLE IV    REDEMPTION OF SECURITIES  Section 4.01 Applicability of Right of Redemption ...................................................................27  Section 4.02 Selection of Securities to be Redeemed .................................................................27    *  The Table of Contents is not a part of the Indenture.  

 

  ii    Section 4.03 Notice of Redemption ............................................................................................28  Section 4.04 Deposit of Redemption Price .................................................................................28  Section 4.05 Securities Payable on Redemption Date ................................................................28  Section 4.06 Securities Redeemed in Part ..................................................................................29  ARTICLE V    SINKING FUNDS  Section 5.01 Applicability of Sinking Fund ...............................................................................29  Section 5.02 Mandatory Sinking Fund Obligation .....................................................................30  Section 5.03 Optional Redemption at Sinking Fund Redemption Price .....................................30  Section 5.04 Application of Sinking Fund Payment ...................................................................30  ARTICLE VI    PARTICULAR COVENANTS OF THE COMPANY  Section 6.01 Payments of Securities ...........................................................................................31  Section 6.02 Paying Agent ..........................................................................................................31  Section 6.03 To Hold Payment in Trust......................................................................................32  Section 6.04 Merger, Consolidation and Sale of Assets .............................................................33  Section 6.05 Compliance Certificate ..........................................................................................34  Section 6.06 Conditional Waiver by Holders of Securities ........................................................34  Section 6.07 Statement by Officers as to Default .......................................................................35  ARTICLE VII    REMEDIES OF TRUSTEE AND SECURITYHOLDERS  Section 7.01 Events of Default ...................................................................................................35  Section 7.02 Acceleration; Rescission and Annulment ..............................................................37  Section 7.03 Other Remedies ......................................................................................................38  Section 7.04 Trustee as Attorney-in-Fact ...................................................................................39  Section 7.05 Priorities .................................................................................................................39  Section 7.06 Control by Securityholders; Waiver of Past Defaults ............................................40  Section 7.07 Limitation on Suits .................................................................................................40  Section 7.08 Undertaking for Costs ............................................................................................41  Section 7.09 Remedies Cumulative ............................................................................................41  ARTICLE VIII    CONCERNING THE SECURITYHOLDERS  Section 8.01 Evidence of Action of Securityholders ..................................................................42  Section 8.02 Proof of Execution or Holding of Securities..........................................................42  Section 8.03 Persons Deemed Owners .......................................................................................43  Section 8.04 Effect of Consents ..................................................................................................43  

 

  iii    ARTICLE IX    SECURITYHOLDERS’ MEETINGS  Section 9.01 Purposes of Meetings .............................................................................................43  Section 9.02 Call of Meetings by Trustee ...................................................................................44  Section 9.03 Call of Meetings by Company or Securityholders .................................................44  Section 9.04 Qualifications for Voting .......................................................................................44  Section 9.05 Regulation of Meetings ..........................................................................................44  Section 9.06 Voting ....................................................................................................................45  Section 9.07 No Delay of Rights by Meeting .............................................................................45  ARTICLE X    REPORTS BY THE COMPANY AND THE TRUSTEE AND  SECURITYHOLDERS’ LISTS  Section 10.01 Reports by Trustee .................................................................................................46  Section 10.02 Reports by the Company ........................................................................................46  Section 10.03 Securityholders’ Lists ............................................................................................46  ARTICLE XI    CONCERNING THE TRUSTEE  Section 11.01 Rights of Trustees; Compensation and Indemnity .................................................47  Section 11.02 Duties of Trustee ....................................................................................................49  Section 11.03 Notice of Defaults ..................................................................................................51  Section 11.04 Eligibility; Disqualification ...................................................................................51  Section 11.05 Resignation and Notice; Removal .........................................................................51  Section 11.06 Successor Trustee by Appointment .......................................................................52  Section 11.07 Successor Trustee by Merger .................................................................................53  Section 11.08 Right to Rely on Officer’s Certificate ....................................................................54  Section 11.09 Appointment of Authenticating Agent...................................................................54  Section 11.10 Communications by Securityholders with Other Securityholders .........................55  ARTICLE XII    SATISFACTION AND DISCHARGE; DEFEASANCE  Section 12.01 Applicability of Article ..........................................................................................55  Section 12.02 Satisfaction and Discharge of Indenture ................................................................55  Section 12.03 Defeasance and Covenant Defeasance upon Deposit of Moneys or U.S.  Government Obligations ........................................................................................57  Section 12.04 Repayment to Company .........................................................................................59  Section 12.05 Indemnity for U.S. Government Obligations .........................................................59  Section 12.06 Deposits to Be Held in Escrow ..............................................................................59  

 

  iv    Section 12.07 Application of Trust Money ...................................................................................59  Section 12.08 Deposits of Non-U.S. Currencies ...........................................................................60  ARTICLE XIII    IMMUNITY OF CERTAIN PERSONS  Section 13.01 No Personal Liability .............................................................................................60  ARTICLE XIV    SUPPLEMENTAL INDENTURES  Section 14.01 Without Consent of Securityholders ......................................................................60  Section 14.02 With Consent of Securityholders; Limitations ......................................................62  Section 14.03 Trustee Protected ...................................................................................................64  Section 14.04 Effect of Execution of Supplemental Indenture.....................................................64  Section 14.05 Notation on or Exchange of Securities ..................................................................64  Section 14.06 Conformity with TIA .............................................................................................64  ARTICLE XV    SUBORDINATION OF SECURITIES  Section 15.01 Agreement to Subordinate .....................................................................................65  Section 15.02 Distribution on Dissolution, Liquidation and Reorganization; Subrogation  of Securities ...........................................................................................................65  Section 15.03 No Payment on Securities in Event of Default on Senior Indebtedness ................66  Section 15.04 Payments on Securities Permitted ..........................................................................67  Section 15.05 Authorization of Securityholders to Trustee to Effect Subordination ...................67  Section 15.06 Notices to Trustee ..................................................................................................67  Section 15.07 Trustee as Holder of Senior Indebtedness .............................................................68  Section 15.08 Modifications of Terms of Senior Indebtedness ....................................................68  Section 15.09 Reliance on Judicial Order or Certificate of Liquidating Agent ............................68  Section 15.10 Satisfaction and Discharge; Defeasance and Covenant Defeasance ......................69  Section 15.11 Trustee Not Fiduciary for Holders of Senior Indebtedness ...................................69  ARTICLE XVI    MISCELLANEOUS PROVISIONS  Section 16.01 Certificates and Opinions as to Conditions Precedent ...........................................69  Section 16.02 Trust Indenture Act Controls .................................................................................70  Section 16.03 Notices to the Company and Trustee .....................................................................70  Section 16.04 Notices to Securityholders; Waiver .......................................................................71  Section 16.05 Legal Holiday.........................................................................................................71  Section 16.06 Effects of Headings and Table of Contents ...........................................................71  Section 16.07 Successors and Assigns..........................................................................................72  

 

  v    Section 16.08 Separability Clause ................................................................................................72  Section 16.09 Benefits of Indenture..............................................................................................72  Section 16.10 Counterparts Originals ...........................................................................................72  Section 16.11 Governing Law; Waiver of Trial by Jury ..............................................................72      

 

    INDENTURE dated as of    , 20 , among SmileDirectClub, Inc., a  Delaware corporation (the “Company”), and [   ], as trustee (the “Trustee”).  WITNESSETH:  WHEREAS, the Company has duly authorized the execution and delivery of this  Indenture to provide for the issuance of unsecured debentures, notes, bonds or other evidences of  indebtedness (the “Securities”) in an unlimited aggregate principal amount to be issued from  time to time in one or more series as provided in this Indenture; and  WHEREAS, all things necessary to make this Indenture a valid and legally binding  agreement of the Company, in accordance with its terms, have been done.  NOW, THEREFORE, THIS INDENTURE WITNESSETH:   That, in consideration of the premises and the purchase of the Securities by the Holders  thereof for the equal and proportionate benefit of all of the present and future Holders of the  Securities, each party agrees and covenants as follows:  ARTICLE I    DEFINITIONS  For all purposes of this Indenture, except as otherwise expressly provided or unless the  context otherwise requires:  (a) the terms defined in this Article have the meanings assigned to them in this  Article and include the plural as well as the singular;  (b) unless otherwise defined in this Indenture or the context otherwise requires, all  terms used herein without definition which are defined in the Trust Indenture Act, either directly  or by reference therein, have the meanings assigned to them therein;   (c) 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;  and  (d) references to “Article” or “Section” or other subdivision herein are references to  an Article, Section or other subdivision of this Indenture, unless the context otherwise requires.  Section 1.01 Definitions.   Unless the context otherwise requires, the terms defined in this Section 1.01 shall for all  purposes of this Indenture have the meanings hereinafter set forth:  

 

  2    Affiliate:  The term “Affiliate,” with respect to any specified Person shall mean any other Person  directly or indirectly controlling or controlled by or under direct or indirect common control with  such specified Person.  For the purposes of this definition, “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.  Authenticating Agent:  The term “Authenticating Agent” shall have the meaning assigned to it in Section 11.09.  Board of Directors:  The term “Board of Directors” shall mean either the board of directors of the Company   or the executive or any other committee of that board duly authorized to act in respect hereof.  Board Resolution:  The term “Board Resolution” shall mean a copy of a resolution or resolutions certified by  the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board  of Directors (or by a committee of the Board of Directors to the extent that any such other  committee has been authorized by the Board of Directors to establish or approve the matters  contemplated) and to be in full force and effect on the date of such certification and delivered to  the Trustee.  Business Day:  The term “Business Day,” when used with respect to any Place of Payment or any other  particular location referred to in this Indenture or in the Securities, shall mean each Monday,  Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in  that Place of Payment or such location are authorized or obligated by law or executive order to  close.   Capital Stock:  The term “Capital Stock” shall mean:  (a) in the case of a corporation, corporate stock;  (b) in the case of an association or business entity, any and all shares,  interests, participations, rights or other equivalents (however designated) of corporate stock;  (c) in the case of a partnership or limited liability company, partnership  interests (whether general or limited) or membership interests; and  

 

  3    (d) any other interest or participation that confers on a Person the right to  receive a share of the profits and losses of, or distributions of assets of, the issuing Person, but  excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or  not such debt securities include any right of participation with Capital Stock.  Code:  The term “Code” shall mean the Internal Revenue Code of 1986, as amended.  Company:  The term “Company” shall mean the Person named as the “Company” in the first  paragraph of this Indenture 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 Order:  The term “Company Order” shall mean a written order signed in the name of the  Company by any Officer and delivered to the Trustee.  Corporate Trust Office:  The term “Corporate Trust Office,” or other similar term, shall mean the principal office  of the Trustee at which at any particular time its corporate trust business shall be administered,  which office at the date hereof is located at [    ], Attention: [         ], [address], or such other  address as the Trustee may designate from time to time by notice to the Holders and the  Company, or the principal corporate trust officer of any successor Trustee (or such other address  as such successor Trustee may designate from time to time by notice to the Holders and the  Company).  Currency:  The term “Currency” shall mean U.S. Dollars or Foreign Currency.  Default:  The term “Default” shall have the meaning assigned to it in Section 11.03.  Defaulted Interest:  The term “Defaulted Interest” shall have the same meaning assigned to it in Section  3.08(b).  Depositary:  The term “Depositary” shall mean, with respect to the Securities of any series issuable in  whole or in part in the form of one or more Global Securities, each Person designated as  Depositary by the Company pursuant to Section 3.01 until one or more successor Depositaries  

 

  4    shall have become such pursuant to the applicable provisions of this Indenture, and thereafter  “Depositary” shall mean or include each Person who is then a Depositary hereunder, and if at  any time there is more than one such Person, “Depositary” as used with respect to the Securities  of any such series shall mean the Depositary with respect to the Securities of that series.  Designated Currency:  The term “Designated Currency” shall have the same meaning assigned to it in Section  3.12.  Discharged:  The term “Discharged” shall have the meaning assigned to it in Section 12.03.  DTC:   The term “DTC” shall mean The Depository Trust Company, Inc. and its successors.  Event of Default:  The term “Event of Default” shall have the meaning specified in Section 7.01.  Exchange Act:  The term “Exchange Act” shall mean the United States Securities Exchange Act of 1934,  and the rules and regulations promulgated by the SEC thereunder and any statute successor  thereto, in each case as amended from time to time.  Exchange Rate:  The term “Exchange Rate” shall have the meaning assigned to it in Section 7.01.  Floating Rate Security:  The term “Floating Rate Security” shall mean a Security that provides for the payment of  interest at a variable rate determined periodically by reference to an interest rate index specified  pursuant to Section 3.01.  Foreign Currency:  The term “Foreign Currency” shall mean a currency issued by the government of any  country other than the United States or a composite currency, the value of which is determined  by reference to the values of the currencies of any group of countries.  GAAP:  The term  “GAAP,” with respect to any computations required or permitted hereunder,  shall mean generally accepted accounting principles in effect in the United States as in effect  from time to time; provided, however if the Company is required by the SEC to adopt (or is  

 

  5    permitted to adopt and so adopts) a different accounting framework, including but not limited to  the International Financial Reporting Standards, “GAAP” shall mean such new accounting  framework as in effect from time to time, including, without limitation, in each case, those  accounting principles set forth in the opinions and pronouncements of the Accounting Principles  Board of the American Institute of Certified Public Accountants and statements and  pronouncements of the Financial Accounting Standards Board or in such other statements by  such other entity as approved by a significant segment of the accounting profession.  Global Security:  The term “Global Security” shall mean any Security that evidences all or part of a series  of Securities, issued in fully-registered certificated form to the Depositary for such series in  accordance with Section 3.03 and bearing the legend prescribed in Section 3.03(g).  Holder; Holder of Securities:  The terms “Holder” and “Holder of Securities” are defined under “Securityholder; Holder  of Securities; Holder.”  Indebtedness:  The term “Indebtedness” shall mean any and all obligations of a Person for money  borrowed which, in accordance with GAAP, would be reflected on the balance sheet of such  Person as a liability on the date as of which Indebtedness is to be determined.  Indenture:  The term “Indenture” or “this Indenture” shall mean 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, 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 3.01; 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 3.01, 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  

 

  6    series of Securities, the term “Indenture” for a particular series of Securities shall only include  the supplemental indentures applicable thereto.  Individual Securities:  The term “Individual Securities” shall have the meaning specified in Section 3.01(p).  Interest:  The term “interest” shall mean, unless the context otherwise requires, interest payable on  any Securities, and with respect to an Original Issue Discount Security that by its terms bears  interest only after Maturity, interest payable after Maturity.  Interest Payment Date:  The term “Interest Payment Date” shall mean, with respect to any Security, the Stated  Maturity of an installment of interest on such Security.  Mandatory Sinking Fund Payment:  The term “Mandatory Sinking Fund Payment” shall have the meaning assigned to it in  Section 5.01(b).  Maturity:  The term “Maturity,” with respect to any Security, shall mean the date on which the  principal of such Security shall become due and payable as therein and herein provided, whether  by declaration, call for redemption or otherwise.  Members:  The term “Members” shall have the meaning assigned to it in Section 3.03(i).  Officer:  The term “Officer” shall mean the Chairman of the Board of Directors, the Chief  Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the  Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Vice-President of the  Company.  Officer’s Certificate:  The term “Officer’s Certificate” shall mean a certificate signed by any Officer and  delivered to the Trustee.  Each such certificate shall include the statements provided for in  Section 16.01 if and to the extent required by the provisions of such Section.  

 

  7    Opinion of Counsel:  The term “Opinion of Counsel” shall mean an opinion in writing signed by one or more  legal counsel, who may be an employee of or of counsel to the Company, and meets the  requirements provided for in Section 16.01.  Optional Sinking Fund Payment:  The term “Optional Sinking Fund Payment” shall have the meaning assigned to it in  Section 5.01(b).  Original Issue Discount Security:  The term “Original Issue Discount Security” shall mean any Security that is issued with  “original issue discount” within the meaning of Section 1273(a) of the Code and the regulations  thereunder, or any successor provision, and any other Security designated by the Company as  issued with original issue discount for United States federal income tax purposes.  Outstanding:  The term “Outstanding,” when used with respect to Securities means, as of the date of  determination, all Securities theretofore authenticated and delivered under this Indenture, except:  (a) Securities theretofore canceled by the Trustee or delivered to the  Trustee for cancellation;  (b) Securities or portions thereof for which 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 or Securities as to  which the Company’s obligations have been Discharged; provided, however, that if such  Securities or portions thereof 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; and  (c) Securities that have been paid pursuant to Section 3.07(b) 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 a Responsible Officer of the Trustee proof satisfactory to it that such Securities are  held by a protected 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  Securities of a series Outstanding have performed any action hereunder, Securities owned by the  Company or any other obligor upon the Securities of such series 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 action, only  Securities of such series that a Responsible Officer of the Trustee actually knows to be so owned  shall be so disregarded.  Securities so owned that have been pledged in good faith may be  

 

  8    regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s  right to act with respect to such Securities and that the pledgee is not the Company or any other  obligor upon such Securities or any Affiliate of the Company or of such other obligor.  In  determining whether the Holders of the requisite principal amount of Outstanding Securities of a  series have performed any action hereunder, the principal amount of an Original Issue Discount  Security that shall be deemed to be Outstanding for such purpose shall be the amount of the  principal thereof that would be due and payable as of the date of such determination upon a  declaration of acceleration of the Maturity thereof pursuant to Section 7.02 and the principal  amount of a Security denominated in a Foreign Currency that shall be deemed to be Outstanding  for such purpose shall be the amount calculated pursuant to Section 3.11(b).  Paying Agent:  The term “Paying Agent” shall have the meaning assigned to it in Section 6.02(a).  Person:  The term “Person” shall mean any individual, a corporation, a limited liability company,  a partnership, an association, a joint stock company, a trust, an unincorporated organization or a  government or an agency or political subdivision thereof or other entity.  Place of Payment:  The term “Place of Payment” shall mean, when used with respect to the Securities of any  series, the place or places where the principal of and premium, if any, and interest on the  Securities of that series are payable as specified pursuant to Section 3.01.  Predecessor Security:  The term “Predecessor Security” shall mean, with respect to any Security, every previous  Security evidencing all or a portion of the same Indebtedness as that evidenced by such  particular Security, and, for the purposes of this definition, any Security authenticated and  delivered under Section 3.07 in lieu of a lost, destroyed or stolen Security shall be deemed to  evidence the same Indebtedness as the lost, destroyed or stolen Security.  Record Date:  The term “Record Date” shall mean, with respect to any interest payable on any Security  on any Interest Payment Date, any date specified in such Security or pursuant to Section 3.01  with respect to such Security as the record date for the payment of interest .  Redemption Date:  The term “Redemption Date” shall mean, when used with respect to any Security to be  redeemed, in whole or in part, the date fixed for such redemption by or pursuant to this Indenture  and the terms of such Security, which, in the case of a Floating Rate Security, unless otherwise  specified pursuant to Section 3.01, shall be an Interest Payment Date only.  

 

  9    Redemption Price:  The term “Redemption Price,” when used with respect to any Security to be redeemed, in  whole or in part, shall mean the price at which it is to be redeemed pursuant to the terms of the  applicable Security and this Indenture.  Register:  The term “Register” shall have the meaning assigned to it in Section 3.05(a).  Registrar:  The term “Registrar” shall have the meaning assigned to it in Section 3.05(a).  Responsible Officers:  The term “Responsible Officers” of the Trustee hereunder shall mean any vice president,  any assistant vice president, any trust officer, any assistant trust officer, secretary, associate or  any other officer associated with the corporate trust department of the Trustee customarily  performing functions similar to those performed by any of the above designated officers, and  also means, with respect to a particular corporate trust matter, any other officer of the Trustee to  whom such matter is referred because of such person’s knowledge of and familiarity with the  particular subject and who shall have direct responsibility for the administration of this  Indenture.  SEC:  The term “SEC” shall mean the United States Securities and Exchange Commission, as  constituted from time to time.  Security:  The term “Security” or “Securities” shall have the meaning stated in the recitals and shall  more particularly mean one or more of the Securities duly authenticated by the Trustee and  delivered pursuant to the provisions of this Indenture.  Security Custodian:  The term “Security Custodian” shall mean the custodian with respect to any Global  Security appointed by the Depositary, or any successor Person thereto, and shall initially be the  Trustee.   Securityholder; Holder of Securities; Holder:  The term “Securityholder” or “Holder of Securities” or “Holder,” shall mean the Person  in whose name Securities shall be registered in the Register kept for that purpose hereunder.  

 

  10    Senior Indebtedness:  The term “Senior Indebtedness” means the principal of (and premium, if any) and unpaid  interest on (x) Indebtedness of the Company, whether outstanding on the date hereof or  thereafter created, incurred, assumed or guaranteed, for money borrowed other than (a) any  Indebtedness of the Company which when incurred, and without respect to any election under  Section 1111(b) of the Federal Bankruptcy Code, was without recourse to the Company, (b) any  Indebtedness of the Company to any of its Subsidiaries, (c) Indebtedness to any employee of the  Company, (d) any liability for taxes, (e) Trade Payables and (f) any Indebtedness of the  Company which is expressly subordinate in right of payment to any other Indebtedness of the  Company, and (y) renewals, extensions, modifications and refundings of any such Indebtedness.   For purposes of the foregoing and the definition of “Senior Indebtedness,” the phrase  “subordinated in right of payment” means debt subordination only and not lien subordination,  and accordingly, (i) unsecured indebtedness shall not be deemed to be subordinated in right of  payment to secured indebtedness merely by virtue of the fact that it is unsecured, and (ii) junior  liens, second liens and other contractual arrangements that provide for priorities among Holders  of the same or different issues of indebtedness with respect to any collateral or the proceeds of  collateral shall not constitute subordination in right of payment. This definition may be modified  or superseded by a supplemental indenture.  Special Record Date:  The term “Special Record Date” shall have the meaning assigned to it in Section  3.08(b)(i).  Stated Maturity:  The term “Stated Maturity” when used with respect to any Security or any installment of  interest thereon, shall mean the date specified in such Security or pursuant to Section 3.01 with  respect to such Security as the fixed date on which the principal (or any portion thereof) of or  premium, if any, on such Security or such installment of interest is due and payable.  Subsidiary:  The term “Subsidiary,” when used with respect to any Person, shall mean with respect to  any Person, a corporation, partnership association, joint venture, trust, limited liability company  or other business entity which is required to be consolidated with such Person in accordance with  GAAP.  Successor Company:  The term “Successor Company” shall have the meaning assigned to it in Section 3.06(i).  Trade Payables:  The term “Trade Payables” means accounts payable or any other Indebtedness or  monetary obligations to trade creditors created or assumed by the Company or any Subsidiary of  

 

  11    the Company in the ordinary course of business (including guarantees thereof or instruments  evidencing such liabilities).  Trust Indenture Act; TIA:  The term “Trust Indenture Act” or “TIA” shall mean the Trust Indenture Act of 1939, as  amended, and the rules and regulations thereunder as in effect on the date of this Indenture,  except as provided in Section 14.06 and except to the extent any amendment to the Trust  Indenture Act expressly provides for application of the Trust Indenture Act as in effect on  another date.  Trustee:  The term “Trustee” shall mean the Person named as the “Trustee” in the first paragraph  of this Indenture until a successor Trustee shall have become such with respect to one or more  series of Securities pursuant to the applicable provisions of this Indenture, and thereafter  “Trustee” shall mean 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. Dollars:  The term “U.S. Dollars” shall mean such currency of the United States as at the time of  payment shall be legal tender for the payment of public and private debts.  U.S. Government Obligations:  The term “U.S. Government Obligations” shall have the meaning assigned to it in Section  12.03.  United States:  The term “United States” shall mean the United States of America, its territories and  possessions, any State of the United States and the District of Columbia.  ARTICLE II    FORMS OF SECURITIES  Section 2.01 Terms of the Securities.  (a) The Securities of each series shall be substantially in the form set forth  in a Board Resolution, a Company Order or in one or more indentures supplemental hereto, and  shall have 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 or designation and such legends or endorsements placed thereon as the Company  may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may  be required to comply with any law or with any rule or regulation made pursuant thereto or with  

 

  12    any rule or regulation of any securities exchange on which any series of the Securities may be  listed or of any automated quotation system on which any such series may be quoted, or to  conform to usage, all as determined by any of the officers executing such Securities as  conclusively evidenced by their execution of such Securities.    (b) The terms and provisions of the Securities shall constitute, and are  hereby expressly made, a part of this Indenture, and, to the extent applicable, the Company and  the Trustee, by their execution and delivery of this Indenture expressly agree to such terms and  provisions and to be bound thereby.  Section 2.02 Form of Trustee’s Certificate of Authentication.  (a) Only such of the Securities as shall bear thereon a certificate  substantially in the form of the Trustee’s certificate of authentication hereinafter recited,  executed by the Trustee by manual signature, shall be valid or become obligatory for any  purpose or entitle the Holder thereof to any right or benefit under this Indenture.  (b) Each Security shall be dated the date of its authentication, except that  any Global Security shall be dated as of the date specified as contemplated in Section 3.01.  (c) The form of the Trustee’s certificate of authentication to be borne by the  Securities shall be substantially as follows:  TRUSTEE’S CERTIFICATE OF AUTHENTICATION  This is one of the Securities of the series designated therein referred to in the within- mentioned Indenture.  Date of authentication: ___________ [          ],  as Trustee  By:      Authorized Signatory      Section 2.03 Form of Trustee’s Certificate of Authentication by an Authenticating  Agent.  If at any time there shall be an Authenticating Agent appointed with respect to any series  of Securities, then the Trustee’s Certificate of Authentication by such Authenticating Agent to be  borne by Securities of each such series shall be substantially as follows:  TRUSTEE’S CERTIFICATE OF AUTHENTICATION  This is one of the Securities of the series designated therein referred to in the within- mentioned Indenture.  Date of authentication: ___________  [                       ] , as Trustee  

 

  13    By:        as Authenticating Agent  By:      Authorized Signatory      ARTICLE III    THE DEBT SECURITIES  Section 3.01 Amount Unlimited; Issuable in Series.  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.  The title and terms on each series of Securities  shall be as set forth in a Board Resolution, Company Order or in one or more indentures  supplemental hereto, prior to the issuance of Securities of any series:  (a) the title of the Securities of the series (which shall distinguish the  Securities of such series from the Securities of all other series, except to the extent that additional  Securities of an existing series are being issued);  (b) any limit upon the aggregate principal amount of the Securities of the  series that may be authenticated and delivered under this Indenture (except for Securities  authenticated and delivered upon transfer of, or in exchange for, or in lieu of, other Securities of  such series pursuant to Section 3.04, 3.06, 3.07, 4.06, or 14.05);  (c) the dates on which or periods during which the Securities of the series  may be issued, and the dates on, or the range of dates within, which the principal of and  premium, if any, on the Securities of such series are or may be payable or the method by which  such date or dates shall be determined or extended;  (d) the rate or rates at which the Securities of the series shall bear interest, if  any, or the method by which such rate or rates shall be determined, whether such interest shall be  payable in cash or additional Securities of the same series or shall accrue and increase the  aggregate principal amount outstanding of such series (including if such Securities were  originally issued at a discount), the date or dates from which such interest shall accrue, or the  method by which such date or dates shall be determined, the Interest Payment Dates on which  any such interest shall be payable, and the Record Dates for the determination of Holders to  whom interest is payable on such Interest Payment Dates or the method by which such date or  dates shall be determined, the right, if any, to extend or defer interest payments and the duration  of such extension or deferral;  (e)  if other than U.S. Dollars, the Foreign Currency in which Securities of  the series shall be denominated or in which payment of the principal of, premium, if any, or  interest on the Securities of the series shall be payable and any other terms concerning such  payment;  

 

  14    (f) if the amount of payment of principal of, premium, if any, or interest on  the Securities of the series may be determined with reference to an index, formula or other  method including, but not limited to, an index based on a Currency or Currencies other than that  in which the Securities are stated to be payable, the manner in which such amounts shall be  determined;  (g) if the principal of, premium, if any, or interest on Securities of the series  are to be payable, at the election of the Company or a Holder thereof, in a Currency other than  that in which the Securities are denominated or stated to be payable without such election, the  period or periods within which, and the terms and conditions upon which, such election may be  made and the time and the manner of determining the exchange rate between the Currency in  which the Securities are denominated or payable without such election and the Currency in  which the Securities are to be paid if such election is made;  (h) the place or places, if any, in addition to or instead of the Corporate  Trust Office of the Trustee where the principal of, premium, if any, and interest on Securities of  the series shall be payable, and where Securities of any series may be presented for registration  of transfer, exchange or conversion, and the place or places where notices and demands to or  upon the Company in respect of the Securities of such series may be made;  (i) the price or prices at which, the period or periods within which or the  date or dates on which, and the terms and conditions upon which Securities of the series may be  redeemed, in whole or in part, at the option of the Company, if the Company is to have that  option;  (j) the obligation or right, if any, of the Company to redeem, purchase or  repay Securities of the series pursuant to any sinking fund, amortization or analogous provisions  or at the option of a Holder thereof and the price or prices at which, the period or periods within  which or the date or dates on which, the Currency or Currencies in which and the terms and  conditions upon which Securities of the series shall be redeemed, purchased or repaid, in whole  or in part, pursuant to such obligation;  (k) if other than denominations of $2,000 and any integral multiple of  $1,000 in excess thereof, the denominations in which Securities of the series shall be issuable;  (l) if other than the principal amount thereof, the portion of the principal  amount of the Securities of the series which shall be payable upon declaration of acceleration of  the Maturity thereof pursuant to Section 7.02;  (m) the guarantors, if any, of the Securities of the series, and the extent of  the guarantees (including provisions relating to seniority, subordination, and the release of the  guarantors), if any, and any additions or changes to permit or facilitate guarantees of such  Securities;  (n) whether the Securities of the series are to be issued as Original Issue  Discount Securities and the amount of discount with which such Securities may be issued;  

 

  15    (o) if the provisions of Article XII hereof shall not be applicable with  respect to the Securities of such series; or any addition to or change in the provisions of Article  XII and, if the Securities of any series are payable in a Currency other than U.S. Dollars, the  Currency or the nature of the government obligations to be deposited with the Trustee pursuant  to Section 12.08;  (p) whether the Securities of the series are to be issued in whole or in part in  the form of one or more Global Securities and, in such case, the Depositary for such Global  Security or Global Securities, and the terms and conditions, if any, upon which interests in such  Global Security or Global Securities may be exchanged in whole or in part for the individual  securities represented thereby in definitive form registered in the name or names of Persons other  than such Depositary or a nominee or nominees thereof (“Individual Securities”);  (q) the date as of which any Global Security of the series shall be dated if  other than the original issuance of the first Security of the series to be issued;  (r) the form or forms of the Securities of the series including such legends  as may be required by applicable law;  (s) if the Securities of the series are to be convertible into or exchangeable  for any securities or property of any Person (including the Company), the terms and conditions  upon which such Securities will be so convertible or exchangeable, and any additions or changes,  if any, to permit or facilitate such conversion or exchange;  (t) whether the Securities of such series are subject to subordination and the  terms of such subordination (for avoidance of doubt, Article XV shall not apply to the Securities  of any series unless the terms of such series expressly state it applies);  (u) whether the Securities of such series are to be secured and the terms of  such security;  (v) any restriction or condition on the transferability of the Securities of  such series;   (w) any addition or change in the provisions related to compensation and  reimbursement of the Trustee which applies to Securities of such series;  (x) any addition or change in the provisions related to supplemental  indentures set forth in Sections 14.01, 14.02 and 14.04 which applies to Securities of such series;  (y) provisions, if any, granting special rights to Holders upon the  occurrence of specified events;   (z) any 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 7.02 and  any addition or change in the provisions set forth in Article VII which applies to Securities of the  series;  

 

  16    (aa) any addition to or change in the covenants set forth in Article VI which  applies to Securities of the series; and  (bb) any other terms of the Securities of such series (which terms shall not be  inconsistent with the provisions of the TIA, but may modify, amend, supplement or delete any of  the terms of this Indenture with respect to such series).  All Securities of any one series shall be substantially identical, except as to denomination and  except as may otherwise be provided herein or set forth in a Board Resolution, a Company Order  or in one or more indentures supplemental hereto.    Unless otherwise specified with respect to the Securities of any series pursuant to this Section  3.01, the Company may, at its option, at any time and from time to time, issue additional  Securities of any series of Securities previously issued under this Indenture which together shall  constitute a single series of Securities under this Indenture.  Section 3.02 Denominations.  In the absence of any specification pursuant to Section  3.01 with respect to Securities of any series, the Securities of such series shall be issuable only as  Securities in denominations of $2,000 and any integral multiple of $1,000 in excess thereof, and  shall be payable only in U.S. Dollars.  Section 3.03 Execution, Authentication, Delivery and Dating.  (a) The Securities shall be executed in the name and on behalf of the  Company by the manual or facsimile signature of any Officer.  If the Person whose signature is  on a Security no longer holds that office at the time the Security is authenticated and delivered,  the Security shall nevertheless be valid.  (b) 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, if required pursuant to Section 3.01, a supplemental indenture or  Company Order setting forth the terms of the Securities of a series.  The Trustee shall thereupon  authenticate and deliver such Securities without any further action by the Company.  The  Company Order shall specify the amount of Securities to be authenticated and the date on which  the original issue of Securities is to be authenticated.  (c) In authenticating the first Securities of any series and accepting the  additional responsibilities under this Indenture in relation to such Securities the Trustee shall  receive, and (subject to Section 11.02) shall be fully protected in relying upon an Officer’s  Certificate and an Opinion of Counsel, each prepared in accordance with Section 16.01 stating  that the conditions precedent, if any, provided for in the Indenture have been complied with.  (d) The Trustee shall have the right to decline to authenticate and deliver  the Securities under this Section 3.03 if the issue of the 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.  

 

  17    (e) Each Security shall be dated the date of its authentication, except as  otherwise provided pursuant to Section 3.01 with respect to the Securities of such series.  (f) Notwithstanding the provisions of Section 3.01 and of this Section 3.03,  if all of the Securities of any series are not to be originally issued at the same time, then the  documents required to be delivered pursuant to this Section 3.03 must be delivered only once  prior to the authentication and delivery of the first Security of such series;  (g) If the Company shall establish pursuant to Section 3.01 that the  Securities of a series are to be issued in whole or in part in the form of one or more Global  Securities, then the Company shall execute and the Trustee shall authenticate and deliver one or  more Global Securities that (i) shall represent an aggregate amount equal to the aggregate  principal amount of the Outstanding Securities of such series to be represented by such Global  Securities, (ii) shall be registered, in the name of the Depositary for such Global Security or  Global Securities or the nominee of such Depositary, (iii) shall be delivered by the Trustee to  such Depositary or pursuant to such Depositary’s instruction and (iv) shall bear a legend  substantially to the following effect:   “THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE  INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE  NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH  SHALL BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT  THEREOF AS OWNER AND HOLDER OF THIS SECURITY FOR ALL PURPOSES.   UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED  REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT  FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY  CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF THE NOMINEE OF  THE DEPOSITARY OR IN SUCH OTHER NAME AS IS REQUESTED BY AN  AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT  HEREON IS MADE TO THE NOMINEE OF THE DEPOSITARY OR TO SUCH  OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE  OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF  FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE  THE REGISTERED OWNER HEREOF, THE NOMINEE OF THE DEPOSITARY,  HAS AN INTEREST HEREIN.   TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS  IN WHOLE, BUT NOT IN PART, BY THE DEPOSITARY TO A NOMINEE OF THE  DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE  DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE  DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A  NOMINEE OF SUCH SUCCESSOR DEPOSITARY.”    The aggregate principal amount of each Global Security may from time to time be  increased or decreased by adjustments made on the records of the Security Custodian, as  provided in this Indenture.  

 

  18    (h) Each Depositary designated pursuant to Section 3.01 for a Global  Security in registered form must, at the time of its designation and at all times while it serves as  such Depositary, be a clearing agency registered under the Exchange Act and any other  applicable statute or regulation.  (i) Members of, or participants in, the Depositary (“Members”) shall have  no rights under this Indenture with respect to any Global Security held on their behalf by the  Depositary or by the Security Custodian under such Global Security, and the Depositary shall be  treated by the Company, the Trustee, the Paying Agent and the Registrar and any of their agents  as the absolute owner of such Global Security for all purposes whatsoever.  Notwithstanding the  foregoing, nothing herein shall prevent the Company, the Trustee, the Paying Agent or the  Registrar or any of their agents from giving effect to any written certification, proxy or other  authorization furnished by the Depositary or impair, as between the Depositary and its Members,  the operation of customary practices of the Depositary governing the exercise of the rights of an  owner of a beneficial interest in any Global Security.  The Holder of a Global Security may grant  proxies and otherwise authorize any Person, including Members and Persons that may hold  interests through Members, to take any action that a Holder is entitled to take under this  Indenture or the Securities.  (j) 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 one of the forms provided for herein duly executed by the Trustee  or by an Authenticating Agent by manual or facsimile signature of an authorized signatory of the  Trustee or Authenticating Agent, and such certificate upon any Security shall be conclusive  evidence, and the only evidence, that such Security has been duly authenticated and delivered  hereunder and is entitled to the benefits of this Indenture.  Section 3.04 Temporary Securities.  (a) 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 that are printed, lithographed, typewritten, mimeographed or otherwise  reproduced, in any authorized denominations, substantially of the tenor of the definitive  Securities in lieu of which they are issued, in registered form and with such appropriate  insertions, omissions, substitutions and other variations as the officers executing such Securities  may determine, as conclusively evidenced by their execution of such Securities.  Any such  temporary Security may be in the form of one or more Global Securities, representing all or a  portion of the Outstanding Securities of such series.  Every such temporary Security shall be  executed by the Company and shall be authenticated and delivered by the Trustee upon the same  conditions and in substantially the same manner, and with the same effect, as the definitive  Security or Securities in lieu of which it is issued.  (b) If temporary Securities of any series are issued, the Company will cause  definitive Securities of such 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 such temporary Securities  at the office or agency of the Company in a Place of Payment for such series, without charge to  

 

  19    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 a like principal amount of definitive Securities of the same series of authorized  denominations and of like tenor.  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.  (c) Upon any exchange of a portion of a temporary Global Security for a  definitive Global Security or for the Individual Securities represented thereby pursuant to this  Section 3.04 or Section 3.06, the temporary Global Security shall be endorsed by the Trustee to  reflect the reduction of the principal amount evidenced thereby, whereupon the principal amount  of such temporary Global Security shall be reduced for all purposes by the amount so exchanged  and endorsed.  Section 3.05 Registrar.  (a) The Company will keep, at an office or agency to be maintained by it in  a Place of Payment where Securities may be presented for registration or presented and  surrendered for registration of transfer or of exchange, and where Securities of any series that are  convertible or exchangeable may be surrendered for conversion or exchange, as applicable (the  “Registrar”), a security register for the registration and the registration of transfer or of exchange  of the Securities (the registers 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  “Register”), as in this Indenture provided, which Register shall at all reasonable times be open  for inspection by the Trustee.  Such Register shall be in written form or in any other form  capable of being converted into written form within a reasonable time.  The Company may have  one or more co-Registrars; the term “Registrar” includes any co-registrar.  (b) The Company shall enter into an appropriate agency agreement with  any Registrar or co-Registrar not a party to this Indenture.  The agreement shall implement the  provisions of this Indenture that relate to such agent.  The Company shall notify the Trustee of  the name and address of each such agent.  If the Company fails to maintain a Registrar for any  series, the Trustee shall act as such and shall be entitled to appropriate compensation therefor  pursuant to Section 11.01.  The Company or any Affiliate thereof may act as Registrar, co- Registrar or transfer agent.   (c) The Company hereby appoints the Trustee at its Corporate Trust Office  as Registrar in connection with the Securities and this Indenture, until such time as another  Person is appointed as such.  Section 3.06 Transfer and Exchange.  (a) Transfer.  (i) Upon surrender for registration of transfer of any Security  of any series at the Registrar the Company shall execute, and the Trustee or any  Authenticating Agent shall authenticate and deliver, in the name of the designated  transferee, one or more new Securities of the same series for like aggregate  

 

  20    principal amount of any authorized denomination or denominations.  The transfer  of any Security shall not be valid as against the Company or the Trustee unless  registered at the Registrar at the request of the Holder, or at the request of his, her  or its attorney duly authorized in writing.  (ii) Notwithstanding any other provision of this Section, unless  and until it is exchanged in whole or in part for the Individual Securities  represented thereby, a Global Security representing all or a portion of the  Securities of a series may not be transferred except as a whole by the Depositary  for such series to a nominee of such Depositary or by a nominee of such  Depositary to such Depositary or another nominee of such Depositary or by such  Depositary or any such nominee to a successor Depositary for such series or a  nominee of such successor Depositary.  (b) Exchange.  (i) At the option of the Holder, Securities of any series (other  than a Global Security, except as set forth below) may be exchanged for other  Securities of the same series for like aggregate principal amount of any authorized  denomination or denominations, upon surrender of the Securities to be exchanged  at the Registrar.  (ii) Whenever any Securities are so surrendered for exchange,  the Company shall execute, and the Trustee or Authenticating Agent shall  authenticate and deliver, the Securities that the Holder making the exchange is  entitled to receive.  (c) Exchange of Global Securities for Individual Securities.  Except as  provided below, owners of beneficial interests in Global Securities will not be entitled to receive  Individual Securities.  (i) Individual Securities shall be issued to all owners of  beneficial interests in a Global Security in exchange for such interests if: (A) at  any time the Depositary for the Securities of a series notifies the Company that it  is unwilling or unable to continue as Depositary for the Securities of such series  or if at any time the Depositary for the Securities of such series shall no longer be  eligible under Section 3.03(h) and, in each case, a successor Depositary is not  appointed by the Company within 90 days of such notice, or (B) the Company  executes and delivers to the Trustee and the Registrar an Company Order stating  that such Global Security shall be so exchangeable.   In connection with the exchange of an entire Global Security for  Individual Securities pursuant to this subsection (c), such Global Security shall be  deemed to be surrendered to the Trustee for cancellation, and the Company shall  execute, and the Trustee, upon receipt of a Company Order for the authentication  and delivery of Individual Securities of such series, will authenticate and deliver  to each beneficial owner identified by the Depositary in exchange for its  

 

  21    beneficial interest in such Global Security, an equal aggregate principal amount of  Individual Securities of authorized denominations.   (ii) The owner of a beneficial interest in a Global Security will  be entitled to receive an Individual Security in exchange for such interest if an  Event of Default has occurred and is continuing.  Upon receipt by the Security  Custodian and Registrar of instructions from the Holder of a Global Security  directing the Security Custodian and Registrar to (x) issue one or more Individual  Securities in the amounts specified to the owner of a beneficial interest in such  Global Security and (y) debit or cause to be debited an equivalent amount of  beneficial interest in such Global Security, subject to the rules and regulations of  the Depositary:   (A) the Security Custodian and  Registrar shall notify the Company and the Trustee of such  instructions, identifying the owner and amount of such beneficial  interest in such Global Security;  (B) the Company shall promptly  execute and the Trustee, upon receipt of a Company Order for the  authentication and delivery of Individual Securities of such series,  shall authenticate and deliver to such beneficial owner Individual  Securities in an equivalent amount to such beneficial interest in  such Global Security; and  (C) the Security Custodian and  Registrar shall decrease such Global Security by such amount in  accordance with the foregoing.  In the event that the Individual  Securities are not issued to each such beneficial owner promptly  after the Registrar has received a request from the Holder of a  Global Security to issue such Individual Securities, the Company  expressly acknowledges, with respect to the right of any Holder to  pursue a remedy pursuant to Section 7.07 hereof, the right of any  beneficial Holder of Securities to pursue such remedy with respect  to the portion of the Global Security that represents such beneficial  Holder’s Securities as if such Individual Securities had been  issued.  (iii) If specified by the Company pursuant to Section 3.01 with  respect to a series of Securities, the Depositary for such series of Securities may  surrender a Global Security for such series of Securities in exchange in whole or  in part for Individual Securities of such series on such terms as are acceptable to  the Company and such Depositary.  Thereupon, the Company shall execute, and  the Trustee shall authenticate and deliver, without service charge,  (A) to each Person specified by such  Depositary a new Individual Security or new Individual Securities  

 

  22    of the same series, of any authorized denomination as requested by  such Person in aggregate principal amount equal to and in  exchange for such Person’s beneficial interest in the Global  Security; and  (B) to such Depositary a new Global  Security in a denomination equal to the difference, if any, between  the principal amount of the surrendered Global Security and the  aggregate principal amount of Individual Securities delivered to  Holders thereof.  (iv) In any exchange provided for in clauses (i) through (iii), the  Company will execute and the Trustee will authenticate and deliver Individual  Securities in registered form in authorized denominations.  (v) Upon the exchange in full of a Global Security for  Individual Securities, such Global Security shall be canceled by the Trustee.   Individual Securities issued in exchange for a Global Security pursuant to this  Section shall be registered in such names and in such authorized denominations as  the Depositary for such Global Security, pursuant to instructions from its direct or  indirect participants or otherwise, shall instruct the Trustee.  The Trustee shall  deliver such Securities to the Persons in whose names such Securities are so  registered.  (d) All Securities issued upon any registration of transfer or exchange of  Securities shall be valid obligations of the Company evidencing the same debt, and entitled to the  same benefits under this Indenture, as the Securities surrendered for such registration of transfer  or exchange.  (e) Every Security presented or surrendered for registration of transfer, or  for exchange or payment shall (if so required by the Company, the Trustee or the Registrar) be  duly endorsed, or be accompanied by a written instrument or instruments of transfer in form  satisfactory to the Company, the Trustee and the Registrar, duly executed by the Holder thereof  or by his, her or its attorney duly authorized in writing.  (f) No service charge will be made for any registration of transfer or  exchange of Securities.  The Company or the Trustee may require payment of a sum sufficient to  cover any tax, assessment or other governmental charge that may be imposed in connection with  any registration of transfer or exchange of Securities, other than those expressly provided in this  Indenture to be made at the Company’s own expense or without expense or charge to the  Holders.  (g) The Company shall not be required to (i) register, transfer or exchange  Securities of any series during a period beginning at the opening of business 15 days before the  day of the transmission of a notice of redemption of Securities of such series selected for  redemption under Section 4.02 and ending at the close of business on the day of such  

 

  23    transmission, or (ii) register, transfer or exchange any Security so selected for redemption in  whole or in part, except the unredeemed portion of any Security being redeemed in part.  (h) In case a successor Company (“Successor Company”) has executed an  indenture supplemental hereto with the Trustee pursuant to Section 6.04, any of the Securities  previously authenticated or delivered may, from time to time, at the request of the Successor  Company, be exchanged for other Securities executed in the name of the Successor Company  with such changes in phraseology and form as may be appropriate, but otherwise identical to the  Securities surrendered for such exchange and of like principal amount; and the Trustee, upon  Company Order of the Successor Company, shall authenticate and deliver Securities as specified  in such order for the purpose of such exchange.  If Securities shall at any time be authenticated  and delivered in any new name of a Successor Company pursuant to this Section 3.06 in  exchange or substitution for or upon registration of transfer of any Securities, such Successor  Company, at the option of the Holders but without expense to them, shall provide for the  exchange of all Securities at the time Outstanding for Securities authenticated and delivered in  such new name.  (i) The Trustee shall have no obligation or duty to monitor, determine or  inquire as to compliance with any restrictions on transfer imposed under this Indenture or under  applicable law with respect to any transfer of any interest in any Security other than to require  delivery of such certificates and other documentation or evidence as are expressly required by,  and to do so if and when expressly required by the terms of, this Indenture, and to examine the  same to determine substantial compliance as to form with the express requirements hereof.  (j) Neither the Trustee nor any agent of the Trustee shall have any  responsibility for any actions taken or not taken by the Depositary.  Section 3.07 Mutilated, Destroyed, Lost and Stolen Securities.  (a) If (i) any mutilated Security is surrendered to the Trustee at its  Corporate Trust Office or (ii) the Company and the Trustee receive evidence to their satisfaction  of the destruction, loss or theft of any Security, and there is delivered to the Company and the  Trustee security or indemnity satisfactory to them to save each of them and any Paying Agent  harmless, and neither the Company nor the Trustee receives notice that such Security has been  acquired by a protected purchaser, then the Company shall execute and upon Company Order the  Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated,  destroyed, lost or stolen Security, a new Security of the same series and of like tenor, form, terms  and principal amount, bearing a number not contemporaneously outstanding, such that neither  gain nor loss in interest shall result from such exchange or substitution.   (b) 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 the amount due on such Security in accordance with its terms.   (c) 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  

 

  24    may be imposed in respect thereto and any other expenses (including the fees and expenses of  the Trustee) connected therewith.   (d) Every new Security of any series issued pursuant to this Section 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.   (e) 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.  Section 3.08 Payment of Interest; Interest Rights Preserved.  (a) Interest on any Security that is payable and is punctually paid or duly  provided for on any Interest Payment Date shall be paid to the Person in whose name such  Security (or one or more Predecessor Securities) is registered at the close of business on the  Record Date for such interest notwithstanding the cancellation of such Security upon any transfer  or exchange subsequent to the Record Date.  Payment of interest on Securities shall be made at  the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the  option of the Company, by check mailed to the address of the Person entitled thereto as such  address shall appear in the Register or, in accordance with arrangements satisfactory to the  Trustee, by wire transfer to an account designated by the Holder.   (b) Any interest on any Security that 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 Record Date by virtue of his, her or  its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its  election in each case, as provided in clause (i) or (ii) below:   (i) The Company may elect to make payment of any Defaulted  Interest to the Persons in whose names such Securities (or their respective  Predecessor Securities) are registered at the close of business on a special record  date for the payment of such Defaulted Interest (a “Special Record Date”), which  shall be fixed in the following manner.  The Company shall notify the Trustee in  writing of the amount of Defaulted Interest proposed to be paid on each such  Security and the date of the proposed payment, and at the same time the Company  shall deposit with the Trustee an amount of money equal to the aggregate amount  proposed to be paid in respect of such Defaulted Interest or shall make  arrangements satisfactory to the Trustee for such deposit prior to the date of the  proposed payment, such money when deposited to be held in trust for the benefit  of the Persons entitled to such Defaulted Interest as in this clause provided.   Thereupon the Trustee shall fix a Special Record Date for the payment of such  Defaulted Interest which shall be not more than 15 calendar days and not less than  10 calendar days prior to the date of the proposed payment and not less than 10  calendar days after the receipt by the Trustee of the notice of the proposed  

 

  25    payment.  The Trustee shall promptly notify the Company of such Special Record  Date and, in the name and at the expense of the Company, shall cause notice of  the proposed payment of such Defaulted Interest and the Special Record Date  therefor to be mailed, first-class postage prepaid, to the Holders of such Securities  at their addresses as they appear in the Register, not less than 10 calendar days  prior to such Special Record Date.  Notice of the proposed payment of such  Defaulted Interest and the Special Record Date therefor having been mailed as  aforesaid, such Defaulted Interest shall be paid to the Persons in whose names  such Securities (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 (ii).  (ii) The Company may make payment of any Defaulted Interest  on Securities in any other lawful manner not inconsistent with the requirements of  any securities exchange on which such Securities may be listed, and upon such  notice as may be required by such exchange, if, after notice given by the  Company to the Trustee of the proposed payment pursuant to this clause, such  manner of payment shall be deemed practicable by the Trustee.   (c) Subject to the provisions set forth herein relating to Record Dates, each  Security delivered pursuant to any provision of this Indenture in exchange or substitution for, or  upon registration of transfer of, any other Security shall carry all the rights to interest accrued  and unpaid, and to accrue, which were carried by such other Security.  Section 3.09 Cancellation.  Unless otherwise specified pursuant to Section 3.01 for  Securities of any series, all Securities surrendered for payment, redemption, registration of  transfer or exchange or credit against any sinking fund or otherwise shall, if surrendered to any  Person other than the Trustee, be delivered to the Trustee for cancellation and shall be promptly  canceled by it and, if surrendered to the Trustee, 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 that the Company may have acquired in any manner whatsoever, 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.  The Trustee shall dispose of all canceled  Securities held by it in accordance with its then customary procedures and deliver a certificate of  such disposal to the Company upon its request therefor.  The acquisition of any Securities by the  Company shall not operate as a redemption or satisfaction of the Indebtedness represented  thereby unless and until such Securities are surrendered to the Trustee for cancellation.  Section 3.10 Computation of Interest.  Except as otherwise specified pursuant to  Section 3.01 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.  

 

  26    Section 3.11 Currency of Payments in Respect of Securities.  (a) Except as otherwise specified pursuant to Section 3.01 for Securities of  any series, payment of the principal of and premium, if any, and interest on Securities of such  series will be made in U.S. Dollars.    (b) For purposes of any provision of the Indenture where the Holders of  Outstanding Securities may perform an action that requires that a specified percentage of the  Outstanding Securities of all series perform such action and for purposes of any decision or  determination by the Trustee of amounts due and unpaid for the principal of and premium, if any,  and interest on the Securities of all series in respect of which moneys are to be disbursed ratably,  the principal of and premium, if any, and interest on the Outstanding Securities denominated in a  Foreign Currency will be the amount in U.S. Dollars based upon exchange rates, determined as  specified pursuant to Section 3.01 for Securities of such series, as of the date for determining  whether the Holders entitled to perform such action have performed it or as of the date of such  decision or determination by the Trustee, as the case may be.    (c) Any decision or determination to be made regarding exchange rates  shall be made by an agent appointed by the Company; provided, that such agent shall accept  such appointment in writing and the terms of such appointment shall, in the opinion of the  Company at the time of such appointment, require such agent to make such determination by a  method consistent with the method provided pursuant to Section 3.01 for the making of such  decision or determination.  All decisions and determinations of such agent regarding exchange  rates shall, in the absence of manifest error, be conclusive for all purposes and irrevocably  binding upon the Company, the Trustee and all Holders of the Securities.  Section 3.12 Judgments.  The Company may provide pursuant to Section 3.01 for  Securities of any series that (a) the obligation, if any, of the Company to pay the principal of,  premium, if any, and interest on the Securities of any series in a Foreign Currency or U.S.  Dollars (the “Designated Currency”) as may be specified pursuant to Section 3.01 is of the  essence and agrees that, to the fullest extent possible under applicable law, judgments in respect  of such Securities shall be given in the Designated Currency; (b) the obligation of the Company  to make payments in the Designated Currency of the principal of and premium, if any, and  interest on such Securities shall, notwithstanding any payment in any other Currency (whether  pursuant to a judgment or otherwise), be discharged only to the extent of the amount in the  Designated Currency that the Holder receiving such payment may, in accordance with normal  banking procedures, purchase with the sum paid in such other Currency (after any premium and  cost of exchange) on the business day in the country of issue of the Designated Currency or in  the international banking community (in the case of a composite currency) immediately  following the day on which such Holder receives such payment; (c) if the amount in the  Designated Currency that may be so purchased for any reason falls short of the amount originally  due, the Company shall pay such additional amounts as may be necessary to compensate for such  shortfall; and (d) any obligation of the Company  not discharged by such payment shall be due as  a separate and independent obligation and, until discharged as provided herein, shall continue in  full force and effect.  

 

  27    Section 3.13 CUSIP Numbers.  The Company in issuing any Securities may use  CUSIP, ISIN or other similar numbers, if then generally in use, and thereafter with respect to  such series, the Trustee may use such numbers in any notice of redemption or exchange with  respect to such series provided that any such notice may state that no representation is made as to  the correctness of such numbers either as printed on the Securities or as contained in any notice  of a redemption and that reliance may be placed only on the other identification numbers printed  on the Securities, and any such redemption shall not be affected by any defect in or omission of  such numbers.  The Company will promptly notify the Trustee in writing of any change in the  CUSIP, ISIN or other similar numbers.  ARTICLE IV    REDEMPTION OF SECURITIES  Section 4.01 Applicability of Right of Redemption. Redemption of Securities (other  than pursuant to a sinking fund, amortization or analogous provision) permitted by the terms of  any series of Securities shall be made (except as otherwise specified pursuant to Section 3.01 for  Securities of any series) in accordance with this Article; provided, however, that if any such  terms of a series of Securities shall conflict with any provision of this Article, the terms of such  series shall govern.  Section 4.02 Selection of Securities to be Redeemed.  (a) If the Company shall at any time elect to redeem all or any portion of  the Securities of a series then Outstanding, it shall at least 30 days prior to the Redemption Date  fixed by the Company (unless a shorter period shall be satisfactory to the Trustee) notify the  Trustee of such Redemption Date and of the principal amount of Securities to be redeemed, and  thereupon the Trustee shall select, by lot or in such other manner as the Trustee shall deem  appropriate and which may provide for the selection for redemption of a portion of the principal  amount of any Security of such series; 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.  In any case where more than one  Security of such series is registered in the same name, the Trustee may treat the aggregate  principal amount so registered as if it were represented by one Security of such series.  The  Trustee shall, as soon as practicable, notify the Company in writing of the Securities and portions  of Securities so selected.  (b) 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 Security  redeemed or to be redeemed only in part, to the portion of the principal amount of such Security  that has been or is to be redeemed.  If the Company shall so direct, Securities registered in the  name of the Company, any Affiliate or any Subsidiary thereof shall not be included in the  Securities selected for redemption.  

 

  28    Section 4.03 Notice of Redemption.  (a) Notice of redemption 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, not less than  30 nor more than 60 days prior to the Redemption Date (unless a shorter period shall be  satisfactory to the Trustee), to the Holders of Securities of any series to be redeemed in whole or  in part pursuant to this Article, in the manner provided in Section 16.04.  Any notice so given  shall be conclusively presumed to have been duly given, whether or not the Holder receives such  notice.  Failure to give such notice, or any defect in such notice to the Holder of any Security of a  series designated for redemption, in whole or in part, shall not affect the sufficiency of any notice  of redemption with respect to the Holder of any other Security of such series.   (b) All notices of redemption shall identify the Securities to be redeemed  (including CUSIP, ISIN or other similar numbers, if available along with the statement in  Section 3.13) and shall state:   (i) such election by the Company to redeem Securities of such  series pursuant to provisions contained in this Indenture or the terms of the  Securities of such series or a supplemental indenture establishing such series, if  such be the case;   (ii) the Redemption Date;   (iii) the Redemption Price;   (iv) if less than all Outstanding Securities of any series are to be  redeemed, the identification (and, in the case of partial redemption, the principal  amounts) of the Securities of such series to be redeemed;   (v) that on the Redemption Date the Redemption Price will  become due and payable upon each such Security to be redeemed, and that, if  applicable, interest thereon shall cease to accrue on and after said date;   (vi) the Place or Places of Payment where such Securities are to  be surrendered for payment of the Redemption Price; and  (vii) that the redemption is for a sinking fund, if such is the case;  Section 4.04 Deposit of Redemption Price.  On or prior to 11:00 a.m., New York City  time, on the Redemption Date for any Securities, 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 6.03) an amount of money in the Currency in which such Securities  are denominated (except as provided pursuant to Section 3.01) sufficient to pay the Redemption  Price of such Securities or any portions thereof that are to be redeemed on that date.  Section 4.05 Securities Payable on Redemption Date.  Notice of redemption having  been given as aforesaid, any Securities so to be redeemed shall, on the Redemption Date, become  due and payable at the Redemption Price and from and after such date (unless the Company shall  

 

  29    Default in the payment of the Redemption Price) 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; provided, however, that (unless  otherwise provided pursuant to Section 3.01) installments of interest that have a Stated Maturity  on or prior to the Redemption Date for such Securities shall be payable according to the terms of  such Securities and the provisions of Section 3.08.   If any Security called for redemption shall not be so paid upon surrender thereof for  redemption, the principal thereof and premium, if any, thereon shall, until paid, bear interest  from the Redemption Date at the rate borne by or prescribed in such Securities.   Section 4.06 Securities Redeemed in Part.  Any Security that is to be redeemed only in  part shall be surrendered at the Corporate Trust Office or such other office or agency of the  Company as is specified in the notice of redemption with, if the Company, the Registrar or the  Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory  to the Company, the Registrar and the Trustee duly executed by the Holder thereof or his, her 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, of like tenor and form, 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; except that if a Global  Security is so surrendered, the Company shall execute, and the Trustee shall authenticate and  deliver to the Depositary for such Global Security, without service charge, a new Global Security  in a denomination equal to and in exchange for the unredeemed portion of the principal of the  Global Security so surrendered.  In the case of a Security providing appropriate space for such  notation, at the option of the Holder thereof, the Trustee, in lieu of delivering a new Security or  Securities as aforesaid, may make a notation on such Security of the payment of the redeemed  portion thereof.  ARTICLE V    SINKING FUNDS  Section 5.01 Applicability of Sinking Fund.  (a) Redemption of Securities permitted or required pursuant to a sinking  fund for the retirement of Securities of a series by the terms of such series of Securities shall be  made in accordance with such terms of such series of Securities and this Article, except as  otherwise specified pursuant to Article IV for Securities of such series, provided, however, that if  any such terms of a series of Securities shall conflict with any provision of this Article, the terms  of such series shall govern.  (b) The minimum amount of any sinking fund payment provided for by the  terms of Securities of any series is herein referred to as a “Mandatory Sinking Fund Payment,”  and any payment in excess of such minimum amount provided for by the terms of Securities of  any series is herein referred to as an “Optional Sinking Fund Payment.”  If provided for by the  

 

  30    terms of Securities of any series, the cash amount of any Mandatory Sinking Fund Payment may  be subject to reduction as provided in Section 5.02.  Section 5.02 Mandatory Sinking Fund Obligation.  The Company may, at its option,  satisfy any Mandatory Sinking Fund Payment obligation, in whole or in part, with respect to a  particular series of Securities by (a) delivering to the Trustee Securities of such series in  transferable form theretofore purchased or otherwise acquired by the Company or redeemed at  the election of the Company pursuant to Article IV or (b) receiving credit for Securities of such  series (not previously so credited) acquired by the Company and theretofore delivered to the  Trustee.  The Trustee shall credit such Mandatory Sinking Fund Payment obligation with an  amount equal to the Redemption Price specified in such Securities for redemption through  operation of the sinking fund and the amount of such Mandatory Sinking Fund Payment shall be  reduced accordingly.  If the Company shall elect to so satisfy any Mandatory Sinking Fund  Payment obligation, it shall deliver to the Trustee not less than 45 days prior to the relevant  sinking fund payment date an Officer’s Certificate, which shall designate the Securities (and  portions thereof, if any) so delivered or credited and which shall be accompanied by such  Securities (to the extent not theretofore delivered) in transferable form.  In case of the failure of  the Company, at or before the time so required, to give such notice and deliver such Securities  the Mandatory Sinking Fund Payment obligation shall be paid entirely in moneys.  Section 5.03 Optional Redemption at Sinking Fund Redemption Price.  In addition to  the sinking fund requirements of Section 5.02, to the extent, if any, provided for by the terms of a  particular series of Securities, the Company may, at its option, make an Optional Sinking Fund  Payment with respect to such Securities.  Unless otherwise provided by such terms, (a) to the  extent that the right of the Company to make such Optional Sinking Fund Payment shall not be  exercised in any year, it shall not be cumulative or carried forward to any subsequent year, and  (b) such optional payment shall operate to reduce the amount of any Mandatory Sinking Fund  Payment obligation as to Securities of the same series.  If the Company intends to exercise its  right to make such optional payment in any year it shall deliver to the Trustee not less than 45  days prior to the relevant sinking fund payment date an Officer’s Certificate stating that the  Company will exercise such optional right, and specifying the amount which the Company will  pay on or before the next succeeding sinking fund payment date.  Such Officer’s Certificate shall  also state that no Event of Default has occurred and is continuing.  Section 5.04 Application of Sinking Fund Payment.  (a) If the sinking fund payment or payments made in funds pursuant to  either Section 5.02 or 5.03 with respect to a particular series of Securities plus any unused  balance of any preceding sinking fund payments made in funds with respect to such series shall  exceed $50,000 (or a lesser sum if the Company shall so request, or such equivalent sum for  Securities denominated other than in U.S. Dollars), it shall be applied by the Trustee on the  sinking fund payment date next following the date of such payment, unless the date of such  payment shall be a sinking fund payment date, in which case such payment shall be applied on  such sinking fund payment date, to the redemption of Securities of such series at the redemption  price specified pursuant to Section 4.03(b).  The Trustee shall select, in the manner provided in  Section 4.02, for redemption on such sinking fund payment date, a sufficient principal amount of  Securities of such series to absorb said funds, as nearly as may be, and shall, at the expense and  

 

  31    in the name of the Company, thereupon cause notice of redemption of the Securities to be given  in substantially the manner provided in Section 4.03(a) for the redemption of Securities in part at  the option of the Company, except that the notice of redemption shall also state that the  Securities are being redeemed for the sinking fund.  Any sinking fund moneys not so applied by  the Trustee to the redemption of Securities of such series shall be added to the next sinking fund  payment received in funds by the Trustee and, together with such payment, shall be applied in  accordance with the provisions of this Section 5.04.  Any and all sinking fund moneys held by  the Trustee on the last sinking fund payment date with respect to Securities of such series, and  not held for the payment or redemption of particular Securities of such series, shall be applied by  the Trustee to the payment of the principal of the Securities of such series at Maturity.   (b) On or prior to each sinking fund payment date, the Company shall pay  to the Trustee a sum equal to all interest accrued to but not including the date fixed for  redemption on Securities to be redeemed on such sinking fund payment date pursuant to this  Section 5.04.   (c) The Trustee shall not redeem any Securities of a series with sinking  fund moneys or mail any notice of redemption of Securities of such series by operation of the  sinking fund during the continuance of a Default in payment of interest on any Securities of such  series or of any Event of Default (other than an Event of Default occurring as a consequence of  this paragraph) of which a Responsible Officer of the Trustee has actual knowledge, except that  if the notice of redemption of any Securities of such series shall theretofore have been mailed in  accordance with the provisions hereof, the Trustee shall redeem such Securities if funds  sufficient for that purpose shall be deposited with the Trustee in accordance with the terms of  this Article.  Except as aforesaid, any moneys in the sinking fund at the time any such Default or  Event of Default shall occur and any moneys thereafter paid into the sinking fund shall, during  the continuance of such Default or Event of Default, be held as security for the payment of all  the Securities of such series; provided, however, that in case such Default or Event of Default  shall have been cured or waived as provided herein, such moneys shall thereafter be applied on  the next sinking fund payment date on which such moneys are required to be applied pursuant to  the provisions of this Section 5.04.  ARTICLE VI    PARTICULAR COVENANTS OF THE COMPANY  The Company hereby covenants and agrees as follows:  Section 6.01 Payments of Securities.  The Company will duly and punctually pay the  principal of and premium, if any, on each series of Securities, and the interest which shall have  accrued thereon, at the dates and place and in the manner provided in the Securities and in this  Indenture.  Section 6.02 Paying Agent.  (a) The Company will maintain in each Place of Payment for any series of  Securities an office or agency where Securities may be presented or surrendered for payment,  

 

  32    where Securities of such series may be surrendered for registration of transfer or exchange and  where notices and demands to or upon the Company in respect of the Securities and this  Indenture may be served (the “Paying Agent”).  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 Paying Agent to receive all presentations, surrenders, notices and demands.   (b) The Company may also from time to time designate different or  additional offices or agencies where the Securities of any series may be presented or surrendered  for any or all such purposes (in or outside of such Place of Payment), and may from time to time  rescind any such designations; provided, however, that no such designation or rescission shall in  any manner relieve the Company of its obligations described in the preceding paragraph.  The  Company will give prompt written notice to the Trustee of any such additional designation or  rescission of designation and of any change in the location of any such different or additional  office or agency.  The Company shall enter into an appropriate agency agreement with any  Paying Agent not a party to this Indenture.  The agreement shall implement the provisions of this  Indenture that relate to such agent.  The Company shall notify the Trustee of the name and  address of each such agent.  The Company or any Affiliate thereof may act as Paying Agent.  Section 6.03 To Hold Payment in Trust.  (a) If the Company or an Affiliate thereof shall at any time act as Paying  Agent with respect to any series of Securities, then, on or before the date on which the principal  of and premium, if any, or interest on any of the Securities of that series by their terms or as a  result of the calling thereof for redemption shall become payable, the Company or such Affiliate  will segregate and hold in trust for the benefit of the Holders of such Securities or the Trustee a  sum sufficient to pay such principal and premium, if any, or interest which shall have so become  payable until such sums shall be paid to such Holders or otherwise disposed of as herein  provided, and will notify the Trustee of its action or failure to act in that regard.  Upon any  proceeding under any federal bankruptcy laws with respect to the Company or any Affiliate  thereof, if the Company or such Affiliate is then acting as Paying Agent, the Trustee shall replace  the Company or such Affiliate as Paying Agent.   (b) If the Company shall appoint, and at the time have, a Paying Agent for  the payment of the principal of and premium, if any, or interest on any series of Securities, then  prior to 11:00 a.m., New York City time, on the date on which the principal of and premium, if  any, or interest on any of the Securities of that series shall become payable as aforesaid, whether  by their terms or as a result of the calling thereof for redemption, the Company will deposit with  such Paying Agent a sum sufficient to pay such principal and premium, if any, or interest, such  sum to be held in trust for the benefit of the Holders of such Securities or the Trustee, and (unless  such Paying Agent is the Trustee), the Company or any other obligor of such Securities will  promptly notify the Trustee of its payment or failure to make such payment.   (c) If the Paying Agent shall be other than the Trustee, the Company will  cause such Paying Agent to execute and deliver to the Trustee an instrument in which such  

 

  33    Paying Agent shall agree with the Trustee, subject to the provisions of this Section 6.03, that  such Paying Agent shall:   (i) hold all moneys held by it for the payment of the principal  of and premium, if any, or interest on the Securities of that series in trust for the  benefit of the Holders of such Securities until such sums shall be paid to such  Holders or otherwise disposed of as herein provided;   (ii) give to the Trustee notice of any Default by the Company  or any other obligor upon the Securities of that series in the making of any  payment of the principal of and premium, if any, or interest on the Securities of  that series; and   (iii) at any time during the continuance of any such Default,  upon the written request of the Trustee, pay to the Trustee all sums so held in trust  by such Paying Agent.   (d) Anything in this Section 6.03 to the contrary notwithstanding, the  Company may at any time, for the purpose of obtaining a release, satisfaction or discharge of this  Indenture or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by  the Company or by any Paying Agent other than the Trustee as required by this Section 6.03,  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.   (e) 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 and premium, if any, or interest  on any Security of any series and remaining unclaimed for two years after such principal and  premium, if any, or interest has become due and payable shall be paid to the Company upon  Company Order along with any interest that has accumulated thereon as a result of such money  being invested at the direction of the Company, 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 of such amounts without interest  thereon, 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 The City of  New York, 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.  Section 6.04 Merger, Consolidation and Sale of Assets.  Except as otherwise provided  as contemplated by Section 3.01 with respect to any series of Securities:  (a) The Company will not consolidate with any other entity or permit a  merger of any other entity into the Company or permit the Company to be merged into any other  entity, or sell, convey, transfer or lease all or substantially all its assets to another entity, unless  

 

  34    (i) either the Company shall be the continuing entity, or the successor, transferee or lessee entity  (if other than the Company) shall be organized and existing under the laws of the United States  or any State thereof or the District of Columbia and expressly assume, by indenture supplemental  hereto, executed and delivered by such entity prior to or simultaneously with such consolidation,  merger, sale, conveyance, transfer or lease, the due and punctual payment of the principal of and  interest and premium, if any, on all the Securities, according to their tenor, and the due and  punctual performance and observance of all other obligations to the Holders and the Trustee  under this Indenture or under the Securities to be performed or observed by the Company; and  (ii) immediately after such consolidation, merger, sale, conveyance, transfer or lease the  Company or the successor, transferee or lessee entity (if other than the Company) would not be  in Default in the performance of any covenant or condition of this Indenture.   (b) Upon any consolidation with or merger into any other entity, or any  sale,  conveyance or transfer lease of all or substantially all of the assets of the Company in  accordance with this Section 6.04, the successor entity formed by such consolidation or into or  with which the Company is merged or to which the Company is sold 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 entity had been named as the Company herein, and thereafter, except in the case of a  lease, the predecessor Company shall be relieved of all obligations and covenants under this  Indenture and the Securities, and from time to time such entity may exercise each and every right  and power of the Company under this Indenture, in the name of the Company, or in its own  name; and any act or proceeding by any provision of this Indenture required or permitted to be  done by the Board of  Directors or any officer of the Company may be done with like force and  effect by the like board or officer of any entity that shall at the time be the successor of the  Company hereunder.  In the event of any such sale or conveyance, but not any such lease, the  Company (or any successor entity which shall theretofore have become such in the manner  described in this Section 6.04) shall be discharged from all obligations and covenants under this  Indenture and the Securities and may thereupon be dissolved and liquidated.  Section 6.05 Compliance Certificate.  Except as otherwise provided as contemplated by  Section 3.01 with respect to any series of Securities, the Company shall furnish to the Trustee  annually, within 120 days after the end of each fiscal year, a brief certificate from an Officer as  to his or her knowledge of the Company’s compliance with all conditions and covenants under  this Indenture (which compliance shall be determined without regard to any period of grace or  requirement of notice provided under this Indenture) and, in the event of any Default, specifying  each such Default and the nature and status thereof of which such person may have knowledge.   Such certificates need not comply with Section 16.01 of this Indenture.  Section 6.06 Conditional Waiver by Holders of Securities.  Anything in this Indenture  to the contrary notwithstanding, the Company may fail or omit in any particular instance to  comply with a covenant or condition set forth herein with respect to any series of Securities if the  Company shall have obtained and filed with the Trustee, prior to the time of such failure or  omission, evidence (as provided in Article VIII) of the consent of the Holders of a majority in  aggregate principal amount of the Securities of such series at the time Outstanding (except as to a  covenant or condition which under Section 14.02 cannot be modified or amended without the  consent of the Holder of each Outstanding Security of such series affected, in which case the  

 

  35    consent of the Holder of each Outstanding Security of such series affected shall be required),  either waiving such compliance in such instance or generally waiving compliance with such  covenant or condition, but no such waiver shall extend to or affect such covenant or condition  except to the extent so expressly waived, or impair any right consequent thereon and, until such  waiver shall have become effective, the obligations of the Company and the duties of the Trustee  in respect of any such covenant or condition shall remain in full force and effect.  Section 6.07 Statement by Officers as to Default.  The Company shall deliver to the  Trustee as soon as possible and in any event within 30 days after the Company becomes aware of  the occurrence of any Event of Default or an event which, with the giving of notice or the lapse  of time or both, would constitute an Event of Default, an Officer’s Certificate setting forth the  details of such Event of Default or Default and the action which the Company proposes to take  with respect thereto.  ARTICLE VII    REMEDIES OF TRUSTEE AND SECURITYHOLDERS  Section 7.01 Events of Default.  Except where otherwise indicated by the context or  where the term is otherwise defined for a specific purpose, the term “Event of Default” as used in  this Indenture with respect to Securities of any series shall mean any of the following described  events unless it is either inapplicable to a particular series or it is specifically deleted or modified  in the manner contemplated in Section 3.01:   (a) the failure of the Company to pay any installment of interest on any  Security of such series when and as the same shall become payable, which failure shall have  continued unremedied for a period of 30 days;   (b) the failure of the Company to pay the principal of (and premium, if any,  on) any Security of such series, when and as the same shall become payable, whether at Maturity  as therein expressed, by call for redemption (otherwise than pursuant to a sinking fund), upon  acceleration under this Indenture or otherwise;   (c) the failure of the Company to pay a sinking fund installment, if any,  when and as the same shall become payable by the terms of a Security of such series, which  failure shall have continued unremedied for a period of 30 days;   (d) the failure of the Company, subject to the provisions of Section 6.06, to  perform any covenants or satisfy any conditions contained in this Indenture (or the terms of the  Securities of such series or a supplemental indenture establishing such series) (other than a  covenant or condition which has been expressly included in this Indenture solely for the benefit  of a series of Securities other than that series and other than a covenant or condition a default in  the performance of which is elsewhere in this Section 7.01 specifically addressed), which failure  shall not have been remedied, or without provision deemed to be adequate for the remedying  thereof having been made, for a period of 90 days after written notice shall have been given to  the Company by the Trustee or shall have been given to the Company and the Trustee by  Holders of 25% or more in aggregate principal amount of the Securities of such series then  

 

  36    Outstanding, specifying such failure, requiring the Company to remedy the same and stating that  such notice is a “Notice of Default” hereunder;  (e) the entry by a court having jurisdiction in the premises of a decree or  order for relief in respect of the Company in an involuntary case under the federal bankruptcy  laws, as now or hereafter constituted, or any other applicable federal or state bankruptcy,  insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator,  assignee, custodian, trustee or sequestrator (or similar official) of the Company or of  substantially all the property of the Company or ordering the winding-up or liquidation of its  affairs and such decree or order shall remain unstayed and in effect for a period of 90  consecutive days;   (f) the commencement by the Company of a voluntary case under the  federal bankruptcy laws, as now or hereafter constituted, or any other applicable federal or state  bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by the  Company to the entry of an order for relief in an involuntary case under any such law, or the  consent by the Company to the appointment of or taking possession by a receiver, liquidator,  assignee, trustee, custodian or sequestrator (or similar official) of the Company or of  substantially all the property of the Company 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 action; or   (g) the occurrence of any other Event of Default with respect to Securities  of such series as provided in Section 3.01;  provided, however, that no event described in clause (d) or (other than with respect to a payment  default) (g) above shall constitute an Event of Default hereunder until the Trustee or the Holders  of 25% or more in aggregate principal amount of the Securities of such series the Outstanding,  notify the Company (and the Trustee in case of notice by the Holders) of the Default, specifying  the Default, requiring the Company to remedy the same and stating that such notice is a “Notice  of Default” hereunder.  Notwithstanding the foregoing provisions of this Section 7.01, if the principal or any  premium or interest on any Security is payable in a Currency other than the Currency of the  United States and such Currency is not available to the Company for making payment thereof  due to the imposition of exchange controls or other circumstances beyond the control of the  Company, the Company will be entitled to satisfy its obligations to Holders of the Securities by  making such payment in the Currency of the United States in an amount equal to the Currency of  the United States equivalent of the amount payable in such other Currency, as determined by the  Company’s agent in accordance with Section 3.11(c) hereof by reference to the noon buying rate  in The City of New York for cable transfers for such Currency (“Exchange Rate”), as such  Exchange Rate is reported or otherwise made available by the Federal Reserve Bank of New  York on the date of such payment, or, if such rate is not then available, on the basis of the most  recently available Exchange Rate.  Notwithstanding the foregoing provisions of this Section  7.01, any payment made under such circumstances in the Currency of the United States where  the required payment is in a Currency other than the Currency of the United States will not  constitute an Event of Default under this Indenture.  

 

  37    Section 7.02 Acceleration; Rescission and Annulment.  (a) Except as otherwise provided as contemplated by Section 3.01 with  respect to any series of Securities, if any one or more of the above-described Events of Default  (other than an Event of Default specified in Section 7.01(e) or 7.01(f)) shall happen with respect  to Securities of any series at the time Outstanding, then, and in each and every such case, during  the continuance of any such Event of Default, the Trustee or the Holders of 25% or more in  principal amount of the Securities of such series then Outstanding may declare the principal (or,  if the Securities of that series are Original Issue Discount Securities, such portion of the principal  amount as may be specified in the terms of that series) of and all accrued and unpaid interest on  all the Securities of such series then Outstanding to be due and payable immediately by a notice  in writing to the Company (and to the Trustee if given by Holders), and upon any such  acceleration such principal amount (or specified amount) and accrued and unpaid interest thereon  shall become immediately due and payable.  If an Event of Default specified in Section 7.01(e)  or 7.01(f) occurs and is continuing, then in every such case, the principal amount (or, if the  Securities of that series are Original Issue Discount Securities, such portion of the principal  amount as may be specified by the terms of that series) of and accrued and unpaid interest on all  of the Securities of that series then Outstanding shall automatically, and without any acceleration  or any other action on the part of the Trustee or any Holder, become due and payable  immediately.  Upon payment of such amounts in the Currency in which such Securities are  denominated (subject to the last paragraph of Section 7.01 and except as otherwise provided  pursuant to Section 3.01), all obligations of the Company in respect of the payment of principal  of and interest on the Securities of such series shall terminate.  (b) The provisions of Section 7.02(a), however, are subject to the condition  that, at any time after the principal and accrued and unpaid interest on all the Securities of such  series, to which any one or more of the above-described Events of Default is applicable, shall  have been so declared to be or shall have automatically become due and payable, and before a  judgment or decree for payment of the money due has been obtained by the Trustee as  hereinafter provided in this Article, Holders of a majority in principal amount of the Securities of  that Series then Outstanding, by written notice to the Company and the Trustee, may rescind and  annual such acceleration if:  (i) the Company has paid or deposited with the Trustee or  Paying Agent a sum in the Currency in which such Securities are denominated  (subject to the last paragraph of Section 7.01 and except as otherwise provided  pursuant to Section 3.01) sufficient to pay:   (A) all amounts owing the Trustee and  any predecessor trustee hereunder under Section 11.01(a)  (provided, however, that all sums payable under this clause (A)  shall be paid in U.S. Dollars);   (B) all accrued and unpaid interest, if  any, upon all the Securities of such series with interest thereon to  the extent that interest thereon shall be legally enforceable, on any  

 

  38    overdue installment of interest at the rate borne by or prescribed in  such Securities; and  (C) the principal of and accrued and  unpaid premium, if any, on any Securities of such series that have  become due otherwise than by such acceleration with interest  thereon to the extent that interest thereon shall be legally  enforceable, on any overdue installment of interest at the rate  borne by or prescribed in such Securities; and  (ii) every other Default and Event of Default with respect to  Securities of that series, other than the non-payment of the principal of Securities  of that series which have become due solely by such acceleration, have been  cured or waived as provided in Section 7.06.  (c) No such rescission shall affect any subsequent default or impair any  right consequent thereon.  (d) For all purposes under this Indenture, if a portion of the principal of any  Original Issue Discount Securities shall have been accelerated and declared due and payable  pursuant to the provisions hereof, then, from and after such acceleration, unless such acceleration  has been rescinded and annulled, the principal amount of such Original Issue Discount Securities  shall be deemed, for all purposes hereunder, to be such portion of the principal thereof as shall be  due and payable as a result of such acceleration, and payment of such portion of the principal  thereof as shall be due and payable as a result of such acceleration, together with interest, if any,  thereon and all other amounts owing thereunder, shall constitute payment in full of such Original  Issue Discount Securities.   Section 7.03 Other Remedies.  If the Company shall fail for a period of 30 days to pay  any installment of interest on the Securities of any series or shall fail to pay any principal of and  premium, if any, on any of the Securities of such series when and as the same shall become due  and payable, whether at Maturity, or by call for redemption (other than pursuant to the sinking  fund), by acceleration as authorized by this Indenture, or otherwise, or shall fail for a period of  30 days to make any required sinking fund payment as to a series of Securities, then, upon  demand of the Trustee, the Company will pay to the Paying Agent for the benefit of the Holders  of Securities of such series then Outstanding the whole amount which then shall have become  due and payable on all the Securities of such series for principal, premium, if any, and accrued  and unpaid interest, with interest (so far as the same may be legally enforceable) on the overdue  principal and on the overdue premium, if any, and accrued and unpaid interest at the rate borne  by or prescribed in such Securities, and all amounts owing the Trustee and any predecessor  trustee hereunder under Section 11.01(a).   In case the Company shall fail forthwith to pay such amounts upon such demand, the  Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to  institute any action or proceeding at law or in equity for the collection of the sums so due and  unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may  enforce any such judgment or final decree against the Company or any other obligor upon the  

 

  39    Securities of such series, and collect the moneys adjudged or decreed to be payable out of the  property of the Company or any other obligor upon the Securities of such series, wherever  situated, in the manner provided by law.  Every recovery of judgment in any such action or other  proceeding, subject to the payment to the Trustee of all amounts owing the Trustee and any  predecessor trustee hereunder under Section 11.01(a), shall be for the ratable benefit of the  Holders of such series of Securities which shall be the subject of such action or proceeding.  All  rights of action upon or under any of the Securities or this Indenture may be enforced by the  Trustee without the possession of any of the Securities and without the production of any thereof  at any trial or any proceeding relative thereto.  Section 7.04 Trustee as Attorney-in-Fact.  The Trustee is hereby appointed, and each  and every Holder of the Securities, by receiving and holding the same, shall be conclusively  deemed to have appointed the Trustee, the true and lawful attorney-in-fact of such Holder, with  authority to make or file (whether or not the Company shall be in Default in respect of the  payment of the principal of, premium, if any, or interest on, any of the Securities), in its own  name and as trustee of an express trust or otherwise as it shall deem advisable, in any  receivership, insolvency, liquidation, bankruptcy, reorganization or other judicial proceeding  relative to the Company or any other obligor upon the Securities or to their respective creditors  or property, any and all claims, proofs of claim, proofs of debt, petitions, consents, other papers  and documents and amendments of any thereof, as may be necessary or advisable in order to  have the claims of the Trustee and any predecessor trustee hereunder and of the Holders of the  Securities allowed in any such proceeding and to collect and receive any moneys or other  property payable or deliverable on any such claim, and to execute and deliver any and all other  papers and documents and to do and perform any and all other acts and things, as it may deem  necessary or advisable in order to enforce in any such proceeding any of the claims of the  Trustee and any predecessor trustee hereunder and of any of such Holders in respect of any of  the Securities; and any receiver, assignee, trustee, custodian or debtor in any such proceeding is  hereby authorized, and each and every taker or Holder of the Securities, by receiving and holding  the same, shall be conclusively deemed to have authorized any such receiver, assignee, trustee,  custodian or debtor, to make any such payment or delivery only to or on the order of the Trustee,  and to pay to the Trustee any amount due it and any predecessor trustee hereunder under Section  11.01(a); provided, however, that nothing herein contained shall be deemed to authorize or  empower the Trustee to consent to or accept or adopt, on behalf of any Holder of Securities, any  plan of reorganization or readjustment affecting the Securities or the rights of any Holder  thereof, or to authorize or empower the Trustee to vote in respect of the claim of any Holder of  any Securities in any such proceeding.  Section 7.05 Priorities.  Any moneys or properties collected by the Trustee with respect  to a series of Securities under this Article VII shall be applied in the order following, at the date  or dates fixed by the Trustee for the distribution of such moneys or properties and, in the case of  the distribution of such moneys or properties on account of the Securities of any series, upon  presentation of the Securities of such series, and stamping thereon the payment, if only partially  paid, and upon surrender thereof, if fully paid:   First: To the payment of all amounts due to the Trustee and any predecessor  trustee hereunder under Section 11.01(a).   

 

  40    Second: Subject to Article XV (to the extent applicable to any series of Securities  then outstanding), to the payment of the amounts then due and unpaid for principal of and  any premium and interest on the Outstanding Securities of such series 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 Outstanding  Securities for principal and any premium and interest, respectively.   Any surplus then remaining shall be paid to the Company or as directed by a court of competent  jurisdiction.  Section 7.06 Control by Securityholders; Waiver of Past Defaults.  The Holders of a  majority in principal amount of the Securities of any series at the time Outstanding may direct  the time, method and place of conducting any proceeding for any remedy available to the Trustee  hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to  the Securities of such series, provided, however, that, subject to the provisions of Sections 11.01  and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee  being advised by counsel determines that the action so directed may not lawfully be taken or  would be unduly prejudicial to Holders not joining in such direction or would involve the  Trustee in personal liability.  Prior to any acceleration of the Maturity of the Securities of any  series, the Holders of a majority in aggregate principal amount of such series of Securities at the  time Outstanding may on behalf of the Holders of all of the Securities of such series waive any  past Default or Event of Default hereunder and its consequences except a Default in the payment  of interest or any premium on or the principal of the Securities of such series and except as to a  covenant or condition which under Section 14.02 cannot be modified or amended without the  consent of the Holder of each Outstanding Security of such series affected, in which case the  consent of the Holder of each Outstanding Security of such series affected shall be required for  such waiver.  Upon any such waiver the Company, the Trustee and the Holders of the Securities  of such series shall be restored to their former positions and rights hereunder, respectively; but  no such waiver shall extend to any subsequent or other Default or Event of Default or impair any  right consequent thereon.  Whenever any Default or Event of Default hereunder shall have been  waived as permitted by this Section 7.06, said Default or Event of Default shall for all purposes  of the Securities of such series and this Indenture be deemed to have been cured and to be not  continuing.  Section 7.07 Limitation on Suits.  No Holder of any Security of any series shall have  any right to institute any action, suit or proceeding at law or in equity for the execution of any  trust hereunder or for the appointment of a receiver or for any other remedy hereunder, in each  case with respect to an Event of Default with respect to such series of Securities, unless such  Holder previously shall have given to the Trustee written notice of one or more of the Events of  Default herein specified with respect to such series of Securities, and unless also the Holders of  25% or more in principal amount of the Securities of such series then Outstanding shall have  requested the Trustee in writing to take action in respect of the matter complained of, and unless  also there shall have been offered to the Trustee security and indemnity reasonably satisfactory  to it against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee,  for 60 days after receipt of such notification, request and offer of indemnity, shall have neglected  or refused to institute any such action, suit or proceeding; and such notification, request and offer  of indemnity are hereby declared in every such case to be conditions precedent to any such  

 

  41    action, suit or proceeding by any Holder of any Security of such series; it being understood and  intended that no one or more of the Holders of Securities of such series shall have any right in  any manner whatsoever by his, her, its or their action to enforce any right hereunder, except in  the manner herein provided, and that every action, suit or proceeding at law or in equity shall be  instituted, had and maintained in the manner herein provided and for the equal benefit of all  Holders of the Outstanding Securities of such series; provided, however, that nothing in this  Indenture or in the Securities of such series shall affect or impair the obligation of the Company,  which is absolute and unconditional, to pay the principal of, premium, if any, and interest on the  Securities of such series to the respective Holders of such Securities at the respective due dates in  such Securities stated, or affect or impair the right, which is also absolute and unconditional, of  such Holders to institute suit to enforce the payment thereof.  Section 7.08 Undertaking for Costs.  All parties to this Indenture and each Holder of  any Security, by such Holder’s acceptance thereof, shall be deemed to have agreed that any court  may in its discretion require, in any action, suit or proceeding for the enforcement of any right or  remedy under this Indenture, or in any action, suit or proceeding against the Trustee for any  action taken or omitted by it as Trustee, the filing by any party litigant in such action, suit or  proceeding of an undertaking to pay the costs of such action, suit or proceeding, and that such  court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and  expenses, against any party litigant in such action, suit or proceeding, having due regard to the  merits and good faith of the claims or defenses made by such party litigant; provided, however,  that the provisions of this Section 7.08 shall not apply to any action, suit or proceeding instituted  by the Trustee, to any action, suit or proceeding instituted by any one or more Holders of  Securities holding in the aggregate more than 10% in principal amount of the Securities of any  series Outstanding, or to any action, suit or proceeding instituted by any Holder of Securities of  any series for the enforcement of the payment of the principal of or premium, if any, or the  interest on, any of the Securities of such series, on or after the respective due dates expressed in  such Securities.  Section 7.09 Remedies Cumulative.  No remedy herein conferred upon or reserved to  the Trustee or to the Holders of Securities of any series is intended to be exclusive of any other  remedy or remedies, and each and every remedy shall be cumulative and shall be in addition to  every other remedy given hereunder or now or hereafter existing at law or in equity or by statute.   No delay or omission of the Trustee or of any Holder of the Securities of any series to exercise  any right or power accruing upon any Default or Event of Default shall impair any such right or  power or shall be construed to be a waiver of any such Default or Event of Default or an  acquiescence therein; and every power and remedy given by this Article VII to the Trustee and to  the Holders of Securities of any series, respectively, may be exercised from time to time and as  often as may be deemed expedient by the Trustee or by the Holders of Securities of such series,  as the case may be.  In case the Trustee or any Holder of Securities of any series shall have  proceeded to enforce any right under this Indenture and the proceedings for the enforcement  thereof shall have been discontinued or abandoned because of waiver or for any other reason or  shall have been adjudicated adversely to the Trustee or to such Holder of Securities, then and in  every such case the Company, the Trustee and the Holders of the Securities of such series shall  severally and respectively be restored to their former positions and rights hereunder, and  thereafter all rights, remedies and powers of the Trustee and the Holders of the Securities of such  

 

  42    series shall continue as though no such proceedings had been taken, except as to any matters so  waived or adjudicated.  ARTICLE VIII    CONCERNING THE SECURITYHOLDERS  Section 8.01 Evidence of Action of Securityholders.  Whenever in this Indenture it is  provided that the Holders of a specified percentage or a majority in aggregate principal amount  of the Securities or of any series of Securities may take any action (including the making of any  demand or request, the giving of any notice, consent or waiver or the taking of any other action),  the fact that at the time of taking any such action the Holders of such specified percentage or  majority have joined therein may be evidenced by (a) any instrument or any number of  instruments of similar tenor executed by Securityholders in person, by an agent or by a  proxy  appointed in writing, including through an electronic system for tabulating consents operated by  the Depositary for such series or otherwise (such action becoming effective, except as herein  otherwise expressly provided, when such instruments or evidence of electronic consents are  delivered to the Trustee and, where it is hereby expressly required, to the Company), or (b) by  the record of the Holders of Securities voting in favor thereof at any meeting of Securityholders  duly called and held in accordance with the provisions of Article IX, or (c) by a combination of  such instrument or instruments and any such record of such a meeting of Securityholders.  Section 8.02 Proof of Execution or Holding of Securities.  Proof of the execution of any  instrument by a Securityholder or his, her or its agent or proxy and proof of the holding by any  Person of any of the Securities shall be sufficient if made in the following manner:   (a) The fact and date of the execution by any Person of any such instrument  may be proved (i) by the certificate of any notary public or other officer in any jurisdiction who,  by the laws thereof, has power to take acknowledgments or proof of deeds to be recorded within  such jurisdiction, that the Person who signed such instrument did acknowledge before such  notary public or other officer the execution thereof, or (ii) by the affidavit of a witness of such  execution sworn to before any such notary or other officer.  Where such execution is by a Person  acting in other than his or her individual capacity, such certificate or affidavit shall also  constitute sufficient proof of his or her authority.   (b) The ownership of Securities of any series shall be proved by the  Register of such Securities or by a certificate of the Registrar for such series.   (c) The record of any Holders’ meeting shall be proved in the manner  provided in Section 9.06.   (d) The Trustee may require such additional proof of any matter referred to  in this Section 8.02 as it shall deem appropriate or necessary, so long as the request is a  reasonable one.   (e) If the Company shall solicit from the Holders of Securities of any series  any action, the Company may, at its option fix in advance a record date for the determination of  Holders of Securities entitled to take such action, but the Company shall have no obligation to do  

 

  43    so.  Any such record date shall be fixed at the Company’s discretion.  If such a record date is  fixed, such action may be sought or given before or after the record date, but only the Holders of  Securities of record at the close of business on such record date shall be deemed to be Holders of  Securities for the purpose of determining whether Holders of the requisite proportion of  Outstanding Securities of such series have authorized or agreed or consented to such action, and  for that purpose the Outstanding Securities of such series shall be computed as of such record  date.  Section 8.03 Persons Deemed Owners.  (a) The Company, the Trustee or any of their agents shall treat the Person in  whose name any Security is registered as the owner of such Security for the purpose of receiving  payment of principal of and premium, if any, and (subject to Section 3.08) interest, if any, on,  such Security and for all other purposes whatsoever, whether or not such Security be overdue,  and neither the Company, the Trustee nor any of their agents shall be affected by notice to the  contrary.  All payments made to any Holder, or upon his, her or its order, shall be valid, and, to  the extent of the sum or sums paid, effectual to satisfy and discharge the liability for moneys  payable upon such Security.   (b) None of the Company, the Trustee, or any of their agents will have any  responsibility or liability for any aspect of the records relating to or payments made on account  of beneficial ownership interests in a Global Security or for maintaining, supervising or  reviewing any records relating to such beneficial ownership interests.  Section 8.04 Effect of Consents.  After an amendment, supplement, waiver or other  action becomes effective as to any series of Securities, a consent to it by a Holder of such series  of Securities is a continuing consent conclusive and binding upon such Holder and every  subsequent Holder of the same Securities or portion thereof, and of any Security issued upon the  transfer thereof or in exchange therefor or in place thereof, even if notation of the consent is not  made on any such Security.    ARTICLE IX    SECURITYHOLDERS’ MEETINGS  Section 9.01 Purposes of Meetings.  A meeting of Securityholders of any or all series  may be called at any time and from time to time pursuant to the provisions of this Article IX for  any of the following purposes:   (a) to give any notice to the Company or to the Trustee, or to give any  directions to the Trustee, or to consent to the waiving of any Default or Event of Default  hereunder and its consequences, or to take any other action authorized to be taken by  Securityholders pursuant to any of the provisions of Article VIII;   (b) to remove the Trustee and nominate a successor trustee pursuant to the  provisions of Article XI;   

 

  44    (c) to consent to the execution of an Indenture or of indentures  supplemental hereto pursuant to the provisions of Section 14.02; or   (d) to take any other action authorized to be taken by or on behalf of the  Holders of any specified aggregate principal amount of the Securities of any one or more or all  series, as the case may be, under any other provision of this Indenture or under applicable law.  Section 9.02 Call of Meetings by Trustee.  The Trustee may at any time call a meeting  of all Securityholders of any or all series that may be affected by the action proposed to be taken,  to take any action specified in Section 9.01, to be held at such time and at such place as the  Trustee shall determine.  Notice of every meeting of the Securityholders of a series, setting forth  the time and the place of such meeting and in general terms the action proposed to be taken at  such meeting, shall be mailed at the expense of the Company to Holders of Securities of such  series at their addresses as they shall appear on the Register of the Company.  Such notice shall  be mailed not less than 20 nor more than 90 days prior to the date fixed for the meeting.  Section 9.03 Call of Meetings by Company or Securityholders.  In case at any time the  Company or the Holders of at least 10% in aggregate principal amount of the Securities of any or  all series then Outstanding that may be affected by the action proposed to be taken, shall have  requested the Trustee to call a meeting of Securityholders of such series, by written request  setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee  shall not have mailed the notice of such meeting within 20 days after receipt of such request,  then the Company or such Securityholders may determine the time and the place for such  meeting and may call such meeting to take any action authorized in Section 9.01, by mailing  notice thereof as provided in Section 9.02.  Section 9.04 Qualifications for Voting.  To be entitled to vote at any meeting of  Securityholders, a Person shall (a) be a Holder of one or more Securities affected by the action  proposed to be taken at the meeting or (b) be a Person appointed by an instrument in writing as  proxy by a Holder of one or more such Securities.  The only Persons who shall be entitled to be  present or to speak at any meeting of Securityholders shall be the Persons entitled to vote at such  meeting and their counsel and any representatives of the Trustee and its counsel and any  representatives of the Company and its counsel. Unless otherwise expressly provided pursuant to  Section 3.01 with respect to the Securities of any series, any vote, consent, waiver or other action  given or taken by the Holders of any series of Securities at a meeting shall be given or taken, as  the case may be, by the Holders of such series of Securities as a separate class.  Section 9.05 Regulation of Meetings.  (a) Notwithstanding any other provisions of this Indenture, the Trustee may  make such reasonable regulations as it may deem advisable for any meeting of Securityholders,  in regard to proof of the holding of Securities and of the appointment of proxies, and in regard to  the appointment and duties of inspectors of votes, the submission and examination of proxies,  certificates and other evidence of the right to vote, and such other matters concerning the conduct  of the meeting as it shall deem fit.   

 

  45    (b) The Trustee shall, by an instrument in writing, appoint a temporary  chairman of the meeting, unless the meeting shall have been called by the Company or by  Securityholders as provided in Section 9.03, in which case the Company or the Securityholders  calling the meeting, as the case may be, shall in like manner appoint a temporary chair.  A  permanent chairman and a permanent secretary of the meeting shall be elected by majority vote  of the meeting.   (c) At any meeting of Securityholders of a series, each Securityholder of  such series of such Securityholder’s proxy shall be entitled to one vote for each $1,000 principal  amount of Securities of such series Outstanding held or represented by him; provided, however,  that no vote shall be cast or counted at any meeting in respect of any Security challenged as not  Outstanding and ruled by the chairman of the meeting to be not Outstanding.  If the Securities of  any series are issuable in minimum denominations of less than $1,000, then a Holder of such a  Security in a principal amount of less than $1,000 shall be entitled to a fraction of one vote  which is equal to the fraction that the principal amount of such Security bears to $1,000.  The  chairman of the meeting shall have no right to vote other than by virtue of Securities of such  series held by him or her or instruments in writing as aforesaid duly designating him or her as the  Person to vote on behalf of other Securityholders.  At any meeting of the Securityholders of any  series duly called pursuant to the provisions of Section 9.02 or 9.03, the presence of Persons  holding or representing Securities of such series in an aggregate principal amount sufficient to  take action as it concerns the Securities of such series upon the business for the transaction of  which such meeting was called shall be necessary to constitute a quorum, and any such meeting  may be adjourned from time to time by a majority of those present, whether or not constituting a  quorum, and the meeting may be held as so adjourned without further notice.  Section 9.06 Voting.  The vote upon any resolution submitted to any meeting of  Securityholders of a series shall be by written ballots on which shall be subscribed the signatures  of the Holders of Securities of such series or of their representatives by proxy and the principal  amounts of the Securities of such series held or represented by them.  The permanent chairman  of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting  for or against any resolution and who shall make and file with the secretary of the meeting their  verified written reports in duplicate of all votes cast at the meeting.  A record in duplicate of the  proceedings of each meeting of Securityholders shall be prepared by the secretary of the meeting  and there shall be attached to said record the original reports of the inspectors of votes on any  vote by ballot taken thereat and affidavits by one or more Persons having knowledge of the facts  setting forth a copy of the notice of the meeting and showing that said notice was mailed as  provided in Section 9.02.  The record shall show the principal amounts of the Securities voting in  favor of or against any resolution.  The record shall be signed and verified by the affidavits of the  permanent chairman and secretary of the meeting and one of the duplicates shall be delivered to  the Company and the other to the Trustee to be preserved by the Trustee.   Any record so signed and verified shall be conclusive evidence of the matters therein  stated.  Section 9.07 No Delay of Rights by Meeting.  Nothing contained in this Article IX shall  be deemed or construed to authorize or permit, by reason of any call of a meeting of  Securityholders of any series or any rights expressly or impliedly conferred hereunder to make  

 

  46    such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved  to the Trustee or to the Securityholders of such series under any of the provisions of this  Indenture or of the Securities of such series.  ARTICLE X    REPORTS BY THE COMPANY AND THE TRUSTEE AND  SECURITYHOLDERS’ LISTS  Section 10.01 Reports by Trustee.  (a) So long as any Securities are outstanding, 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 therein.  If  required by Section 313(a) of the Trust Indenture Act, the Trustee shall, within 60 days after  each anniversary following the date of this Indenture deliver to Holders a brief report which  complies with the provisions of such Section 313(a).  (b) The Trustee shall, at the time of the transmission to the Holders of  Securities of any report pursuant to the provisions of this Section 10.01, file a copy of such  report with each stock exchange upon which the Securities are listed, if any, and also with the  SEC in respect of a Security listed and registered on a national securities exchange, if any.  The  Company agrees to notify the Trustee when, as and if the Securities become listed on any stock  exchange or any delisting thereof.   (c) The Company will reimburse the Trustee for all expenses incurred in the  preparation and transmission of any report pursuant to the provisions of this Section 10.01 and of  Section 10.02.  Section 10.02 Reports by the Company.  The Company shall file with the Trustee and  the SEC, 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 in the Trust Indenture Act; provided that, unless available on EDGAR, any  such information, documents or reports required to be filed with the SEC pursuant to Section 13  or 15(d) of the Exchange Act shall be filed with the Trustee within 30 days after the same is filed  with the SEC.  Delivery of such reports, information and documents to the Trustee is for informational  purposes only and the Trustee’s receipt of such shall not constitute actual or constructive notice  of any information contained therein or determinable from information contained therein,  including the Company’s compliance with any of its covenants hereunder (as to which the  Trustee is entitled to rely exclusively on Officer’s Certificates).   Section 10.03 Securityholders’ Lists.  The Company covenants and agrees that it will  furnish or cause to be furnished to the Trustee:   (a) semi-annually, within 15 days after each Record Date, but in any event  not less frequently than semi-annually, a list in such form as the Trustee may reasonably require  

 

  47    of the names and addresses of the Holders of Securities to which such Record Date applies, as of  such Record Date, and   (b) at such other times as the Trustee may request in writing, within 30 days  after receipt by the Company of any such request, a list of similar form and content as of a date  not more than 15 days prior to the time such list is furnished;  provided, however, that so long as the Trustee shall be the Registrar, such lists shall not be  required to be furnished.  ARTICLE XI    CONCERNING THE TRUSTEE  Section 11.01 Rights of Trustees; Compensation and Indemnity.  The Trustee accepts the  trusts created by this Indenture upon the terms and conditions hereof, including the following, to  all of which the parties hereto and the Holders from time to time of the Securities agree:   (a) The Trustee shall be entitled to such compensation as the Company and  the Trustee shall from time to time agree in writing for all services rendered by it hereunder  (including in any agent capacity in which it acts).  The compensation of the Trustee shall not be  limited by any provision of law in regard to the compensation of a trustee of an express trust.   The Company shall reimburse the Trustee promptly upon its request for all reasonable out-of- pocket expenses, disbursements and advances incurred or made by the Trustee (including the  reasonable expenses and disbursements of its agents and counsel), except any such expense,  disbursement or advance as may be attributable to its own negligence, bad faith or willful  misconduct.     The Company also agrees to indemnify each of the Trustee and any predecessor Trustee  hereunder for, and to hold it harmless against, any and all loss, liability, damage, claim, or  expense incurred without its own negligence, bad faith or willful misconduct, arising out of or in  connection with the acceptance or administration of the trust or trusts hereunder and the  performance of its duties (including in any agent capacity in which it acts), as well as the costs  and expenses of defending itself against any claim or liability in connection with the exercise or  performance of any of its powers or duties hereunder, except those attributable to its negligence,  willful misconduct or bad faith.  The Trustee shall notify the Company promptly of any claim for  which it may seek indemnity. The Company shall defend the claim and the Trustee shall  cooperate in the defense. The Trustee may have one separate counsel of its selection and the  Company shall pay the reasonable fees and expenses of such counsel. The Company need not  pay for any settlement made without its consent, which consent shall not be unreasonably  withheld.   As security for the performance of the obligations of the Company under this Section  11.01(a), the Trustee shall have a lien upon all property and funds held or collected by the  Trustee as such, except funds held in trust by the Trustee to pay principal of, premium and  interest on any Securities.  Notwithstanding any provisions of this Indenture to the contrary, the  obligations of the Company to compensate and indemnify the Trustee under this Section 11.01(a)  

 

  48    shall survive the resignation or removal of the Trustee, the termination of this Indenture and any  satisfaction and discharge under Article XII.  When the Trustee incurs expenses or renders  services after an Event of Default specified in clause (e) or (f) of Section 7.01 occurs, the  expenses and compensation for the services are intended to constitute expenses of administration  under any applicable federal or state bankruptcy, insolvency or similar laws.   (b) The Trustee may execute any of the trusts or powers hereof and perform  any duty hereunder either directly or by its agents and attorneys and shall not be responsible for  any misconduct or negligence on the part of any agent or attorney appointed with due care by it  hereunder.   (c) The Trustee shall not be responsible in any manner whatsoever for the  correctness of the recitals herein or in the Securities (except its certificates of authentication  thereon) contained, all of which are made solely by the Company; and the Trustee shall not be  responsible or accountable in any manner whatsoever for or with respect to the validity or  execution or sufficiency of this Indenture or of the Securities (except its certificates of  authentication thereon), and the Trustee makes no representation with respect thereto, except that  the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate  the Securities and perform its obligations hereunder and that the statements made by it in a  Statement of Eligibility on Form T-1 supplied to the Company are true and accurate, subject to  the qualifications set forth therein.  The Trustee shall not be accountable for the use or  application by the Company of any Securities, or the proceeds of any Securities, authenticated  and delivered by the Trustee in conformity with the provisions of this Indenture.   (d) The Trustee may consult with counsel of its selection, and advice of  counsel shall be full and complete authorization and protection in respect of any action taken or  suffered by the Trustee hereunder in good faith and in accordance with such advice of counsel.   (e) The Trustee may rely upon the certificate of the Secretary or one of the  Assistant Secretaries of the Company as to the adoption of any Board Resolution or resolution of  the stockholders of the Company, and any request, direction, order or demand of the Company  mentioned herein shall be sufficiently evidenced by, and 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 may rely upon, an Officer’s  Certificate of the Company (unless other evidence in respect thereof be herein specifically  prescribed).   (f) The Trustee or any agent of the Trustee, in its individual or any other  capacity, may become the owner or pledgee of Securities and, subject to Sections 310(b) and 311  of the Trust Indenture Act, may otherwise deal with the Company with the same rights it would  have had if it were not the Trustee or such agent.   (g) 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 in writing with the  Company.   

 

  49    (h) Any action taken by the Trustee pursuant to any provision hereof at the  request or with the consent of any Person who at the time is the Holder of any Security shall be  conclusive and binding in respect of such Security upon all future Holders thereof or of any  Security or Securities which may be issued for or in lieu thereof in whole or in part, whether or  not such Security shall have noted thereon the fact that such request or consent had been made or  given.   (i) The Trustee may conclusively rely and shall be protected in acting or  refraining from acting upon any resolution, certificate, statement, instrument, opinion, report,  notice, request, consent, order, approval, bond, debenture or other paper or document reasonably  believed by it to be genuine and to have been signed or presented by the proper party or parties.   (j) The Trustee shall not be under any obligation to exercise any of the  rights or powers vested in it by this Indenture at the request, order or direction of any of the  Holders of the Securities, pursuant to any provision of this Indenture, unless one or more of the  Holders of the Securities shall have offered to the Trustee security or indemnity reasonably  satisfactory to it against the costs, expenses and liabilities which may be incurred by it therein or  thereby.   (k) The Trustee shall not be liable for any action taken or omitted by it in  good faith and believed by it to be authorized or within its discretion or within the rights or  powers conferred upon it by this Indenture.   (l) The Trustee shall not be deemed to have knowledge or notice of any  Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge  thereof or unless the Company or Holders of not less than 25% of the Outstanding Securities  notify the Trustee thereof.   (m) 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, may, but shall not be required to, make further inquiry or  investigation into such facts or matters as it may see fit.   (n) The rights, privileges, protections, immunities and benefits given to the  Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be  enforceable by, the Trustee in each of its capacities hereunder.   Section 11.02 Duties of Trustee.  (a) If one or more of the Events of Default specified in Section 7.01 with  respect to the Securities of any series shall have happened, then, during the continuance thereof,  the Trustee shall, with respect to such Securities, exercise such of the rights and powers vested in  it by this Indenture, and shall use the same degree of care and skill in their exercise, as a prudent  person would exercise or use under the circumstances in the conduct of such person’s own  affairs.  

 

  50    (b) None of the provisions of this Indenture shall be construed as relieving  the Trustee from liability for its own negligent action, negligent failure to act, or its own willful  misconduct, except that, anything in this Indenture contained to the contrary notwithstanding,   (i) unless and until an Event of Default specified in Section  7.01 with respect to the Securities of any series shall have happened which at the  time is continuing,   (A) the Trustee undertakes to perform  such duties and only such duties with respect to the Securities of  that series as are specifically set out in this Indenture, and no  implied covenants or obligations shall be read into this Indenture  against the Trustee, whose duties and obligations shall be  determined solely by the express provisions of this Indenture; and  (B) the Trustee may conclusively rely,  as to the truth of the statements and the correctness of the opinions  expressed therein, in the absence of bad faith on the part of the  Trustee, upon certificates and opinions furnished to it pursuant to  the express provisions of this Indenture; but in the case of any such  certificates or opinions which, by the provisions of this Indenture,  are specifically required to be furnished to the Trustee, the Trustee  shall be under a duty to examine the same to determine whether or  not they conform to the requirements of this Indenture (but need  not confirm or investigate the accuracy of mathematical  calculations or other facts, statements, opinions or conclusions  stated therein);   (ii) the Trustee shall not be liable to any Holder of Securities or  to any other Person for any error of judgment made in good faith by a  Responsible Officer or Officers of the Trustee, unless it shall be proved that the  Trustee was negligent in ascertaining the pertinent facts; and   (iii) the Trustee shall not be liable to any Holder of Securities or  to any other Person with respect to any action taken or omitted to be taken by it in  good faith, in accordance with the direction of Securityholders given as provided  in Section 7.06, relating to the time, method and place of conducting any  proceeding for any remedy available to it or exercising any trust or power  conferred upon it by this Indenture.   (c) None of the provisions of this Indenture shall require the Trustee to  expend or risk its own funds or otherwise to 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.   

 

  51    (d) 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 11.02.  Section 11.03 Notice of Defaults.  Within 90 days after the occurrence thereof, and if  known to the Trustee, the Trustee shall give to the Holders of the Securities of a series notice of  each Default or Event of Default with respect to the Securities of such series known to the  Trustee, by transmitting such notice to Holders at their addresses as the same shall then appear  on the Register of the Company, unless such Default shall have been cured or waived before the  giving of such notice (the term “Default” being hereby defined to be the events specified in  Section 7.01, which are, or after notice or lapse of time or both would become, Events of Default  as defined in said Section).  Except in the case of a Default or Event of Default in payment of the  principal of, premium, if any, or interest on any of the Securities of such series when and as the  same shall become payable, or to make any sinking fund payment as to Securities of the same  series, the Trustee shall be protected in withholding such notice, if and so long as a Responsible  Officer or Responsible Officers of the Trustee in good faith determines that the withholding of  such notice is in the interests of the Holders of the Securities of such series.  Section 11.04 Eligibility; Disqualification.  (a) The Trustee shall at all times satisfy the requirements of TIA Section  310(a).  The Trustee shall have a combined capital and surplus of at least $50 million as set forth  in its most recent published annual report of condition, and shall have a Corporate Trust Office.   If at any time the Trustee shall cease to be eligible in accordance with the provisions of this  Section 11.04, it shall resign immediately in the manner and with the effect hereinafter specified  in this Article.   (b) The Trustee shall comply with TIA Section 310(b); provided, however,  that there shall be excluded from the operation of TIA Section 310(b)(i) any indenture or  indentures under which other securities or certificates of interest or participation in other  securities of the Company are outstanding if the requirements for such exclusion set forth in TIA  Section 310(b)(i) are met.  If the Trustee has or shall acquire a conflicting interest within the  meaning of Section 310(b) of the Trust Indenture Act, the Trustee shall either eliminate such  interest or resign, to the extent and in the manner provided by, and subject to the provisions of,  the Trust Indenture Act and this Indenture.  If Section 310(b) of the Trust Indenture Act is  amended any time after the date of this Indenture to change the circumstances under which a  Trustee shall be deemed to have a conflicting interest with respect to the Securities of any series  or to change any of the definitions in connection therewith, this Section 11.04 shall be  automatically amended to incorporate such changes.  Section 11.05 Resignation and Notice; Removal.  The Trustee, or any successor to it  hereafter appointed, may at any time resign and be discharged of the trusts hereby created with  respect to any one or more or all series of Securities by giving to the Company notice in writing.   Such resignation shall take effect upon the appointment of a successor Trustee and the  acceptance of such appointment by such successor Trustee.  Any Trustee hereunder may be  removed with respect to any series of Securities at any time by the filing with such Trustee and  the delivery to the Company of an instrument or instruments in writing signed by the Holders of  

 

  52    a majority in principal amount of the Securities of such series then Outstanding, specifying such  removal and the date when it shall become effective.  If at any time:  (1)  the Trustee shall fail to comply with the provisions of TIA Section 310(b) 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, if it is a shorter period, the period since the initial issuance of  the Securities of such series), or  (2) the Trustee shall cease to be eligible under Section 11.04 and shall fail to resign  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, if it is a shorter period, the period since the initial  issuance of the Securities of such series), or  (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, (i) the Company by written notice to the Trustee may remove the Trustee  and appoint a successor Trustee with respect to all Securities, or (ii) subject to TIA Section  315(e), any Securityholder who has been a bona fide Holder of a Security for at least six months  (or, if it is a shorter period, the period since the initial issuance of the Securities of such series)  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.   In addition, the Company may remove the Trustee with respect to Securities of any series  without cause if the Company gives written notice to the Trustee of such proposed removal at  least three months in advance of the proposed effective date of such removal.  Upon its resignation or removal, any Trustee shall be entitled to the payment of  reasonable compensation for the services rendered hereunder by such Trustee and to the payment  of all reasonable expenses incurred hereunder and all moneys then due to it hereunder.  The  Trustee’s rights to indemnification provided in Section 11.01(a) shall survive its resignation or  removal.  Section 11.06 Successor Trustee by Appointment.  (a) In case at any time the Trustee shall resign, or shall be removed or if a  vacancy exists in the office of the Trustee for any reason, with respect to Securities of any or all  series, the Compay shall promptly appoint a successor Trustee.  However, if all or substantially  all the assets of the Company shall be in the possession of one or more custodians or receivers  lawfully appointed, or of trustees in bankruptcy or reorganization proceedings (including a  trustee or trustees appointed under the provisions of the federal bankruptcy laws, as now or  hereafter constituted), or of assignees for the benefit of creditors, such receivers, custodians,  trustees or assignees, as the case may be, shall promptly appoint a successor Trustee with respect  

 

  53    to the Securities of any or all series.  Subject to the provisions of Sections 11.04 and 11.05, upon  the appointment as aforesaid of a successor Trustee with respect to the Securities of any series,  the Trustee with respect to the Securities of such series shall cease to be Trustee hereunder.   After any such appointment other than by the Holders of Securities of any such series, the Person  making such appointment shall forthwith cause notice thereof to be mailed to the Holders of  Securities of such series at their addresses as the same shall then appear on the Register of the  Company.   Any failure of the Company to mail such notice, or any defect therein, shall not,  however, in any way impair or affect the validity of such appointment.  (b) If any Trustee with respect to the Securities of any series shall resign or  be removed and a successor Trustee shall not have been appointed by the Company or, if any  successor Trustee so appointed shall not have accepted its appointment within 30 days after such  appointment shall have been made, the resigning Trustee at the expense of the Company may  apply to any court of competent jurisdiction for the appointment of a successor Trustee.  If in any  other case a successor Trustee shall not be appointed pursuant to the foregoing provisions of this  Section 11.06 within three months after such appointment might have been made hereunder, the  Holder of any Security of the applicable series or any retiring Trustee at the expense of the  Company may apply to any court of competent jurisdiction to appoint a successor Trustee.  Such  court may thereupon, in any such case, after such notice, if any, as such court may deem proper  and prescribe, appoint a successor Trustee.   (c) Any successor Trustee appointed hereunder with respect to the  Securities of one or more series shall execute, acknowledge and deliver to its predecessor  Trustee and to the Company, or to the receivers, trustees, assignees or court appointing it, as the  case may be, an instrument accepting such appointment hereunder, and thereupon such successor  Trustee, without any further act, deed or conveyance, shall become vested with all the authority,  rights, powers, trusts, immunities, duties and obligations with respect to such series of such  predecessor Trustee with like effect as if originally named as Trustee hereunder, and such  predecessor Trustee, upon payment of its charges and disbursements then unpaid, shall thereupon  become obligated to pay over, and such successor Trustee shall be entitled to receive, all moneys  and properties held by such predecessor Trustee as Trustee hereunder with respect to the  Securities of such series, subject nevertheless to its lien provided for in Section 11.01(a).   Nevertheless, on the written request of the Company or of the successor Trustee or of the  Holders of at least 10% in principal amount of the Securities of any such series then Outstanding,  such predecessor Trustee, upon payment of its said charges and disbursements, shall execute and  deliver an instrument transferring to such successor Trustee upon the trusts herein expressed all  the rights, powers and trusts of such predecessor Trustee with respect to the Securities of such  series and shall assign, transfer and deliver to the successor Trustee all moneys and properties  held by such predecessor Trustee with respect to the Securities of such series, subject  nevertheless to its lien provided for in Section 11.01(a); and, upon request of any such successor  Trustee or the Company shall make, execute, acknowledge and deliver any and all instruments in  writing for more fully and effectually vesting in and confirming to such successor Trustee all  such authority, rights, powers, trusts, immunities, duties and obligations.  Section 11.07 Successor Trustee by Merger.  Any Person into which the Trustee or any  successor to it in the trusts created by this Indenture shall be merged or converted, or any Person  with which it or any successor to it shall be consolidated, or any Person resulting from any  

 

  54    merger, conversion or consolidation to which the Trustee or any such successor to it shall be a  party, or any Person to which the Trustee or any successor to it shall sell or otherwise transfer all  or substantially all of the corporate trust business of the Trustee, shall be the successor Trustee  under this Indenture without the execution or filing of any paper or any further act on the part of  any of the parties hereto; provided that such Person shall be otherwise qualified and eligible  under this Article.  In case at the time such successor to the Trustee shall succeed to the trusts  created by this Indenture with respect to one or more series of Securities, any of such Securities  shall have been authenticated but not delivered by the Trustee then in office, any successor to  such Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver  such Securities so authenticated; and in case at that time any of the Securities shall not have been  authenticated, any successor to the Trustee may authenticate such Securities either in the name of  any predecessor hereunder or in the name of the successor Trustee; and in all such cases such  certificates shall have the full force which it is anywhere in the Securities or in this Indenture  provided that the certificate of the Trustee shall have; provided, however, that the right to adopt  the certificate of authentication of any predecessor Trustee or authenticate Securities in the name  of any predecessor Trustee shall apply only to its successor or successors by merger, conversion  or consolidation.  Section 11.08 Right to Rely on Officer’s Certificate.  Whenever in the administration of  the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be  proved or established prior to taking or suffering any action hereunder, such matter (unless other  evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence,  bad faith or willful misconduct on the part of the Trustee, be deemed to be conclusively proved  and established by an Officer’s Certificate with respect thereto delivered to the Trustee, and such  Officer’s Certificate, in the absence of negligence, bad faith or willful misconduct on the part of  the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it  under the provisions of this Indenture upon the faith thereof.  Section 11.09 Appointment of Authenticating Agent.  The Trustee may appoint an agent  (the “Authenticating Agent”) acceptable to the Company to authenticate the Securities, and the  Trustee shall give written notice of such appointment to all Holders of Securities of the series  with respect to which such Authenticating Agent will serve.  Unless limited by the terms of such  appointment, any such Authenticating Agent may authenticate Securities whenever the Trustee  may do so.  Each reference in this Indenture to authentication by the Trustee includes  authentication by the Authenticating Agent. 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.  Each Authenticating Agent shall at all times be a corporation organized and doing  business and in good standing under the laws of the United States, any State thereof or the  District of Columbia, authorized under such laws to act as Authenticating Agent, having 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 corporation 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 Article XI, the combined capital and surplus of such corporation  shall be deemed to be its combined capital and surplus as set forth in its most recent report of  condition so published. If at any time an Authenticating Agent shall cease to be eligible in  

 

  55    accordance with the provisions of this Article XI, it shall resign immediately in the manner and  with the effect specified in this Article XI.  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  Article XI, 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 11.09, the Trustee may appoint a successor Authenticating Agent which shall be  acceptable to the Company and shall give written notice of such appointment 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 11.09.  The Company agrees to pay to each Authenticating Agent from time to time reasonable  compensation for its services under this Section 11.09.  Section 11.10 Communications by Securityholders with Other Securityholders.  Holders  of Securities may communicate pursuant to Section 312(b) of the Trust Indenture Act with other  Holders with respect to their rights under this Indenture or the Securities.  The Company, the  Trustee, the Registrar and anyone else shall have the protection of Section 312(c) of the Trust  Indenture Act with respect to such communications.  ARTICLE XII    SATISFACTION AND DISCHARGE; DEFEASANCE  Section 12.01 Applicability of Article.  The provisions of this Article shall be applicable  to the Securities of all series issued pursuant to this Indenture, except as otherwise specified  pursuant to Section 3.01.  Section 12.02 Satisfaction and Discharge of Indenture.  This Indenture, with respect to  the Securities of any series (if all series issued under this Indenture are not to be affected), shall,  upon Company Order, cease to be of further effect (except as to any surviving rights of  registration of transfer or exchange of such Securities herein expressly provided for and the  rights of the Holders of the Securities of such series to receive, the principal of and premium, if  any, and interest on such Securities as and when the same shall become due and payable and  

 

  56    except as otherwise provided in the last paragraph of this Section 12.02), and the Trustee, at the  expense of the Company, shall execute proper instruments acknowledging satisfaction and  discharge of this Indenture with respect to the Securities of such series, when,   (a) either:   (i) all Securities of such series theretofore authenticated and  delivered (other than (A) Securities that have been destroyed, lost or stolen and  that have been replaced or paid as provided in Section 3.07 and (B) Securities for  whose payment money has theretofore been deposited in trust or segregated and  held in trust by the Company and thereafter repaid to the Company or discharged  from such trust, as provided in Section 6.03(e)) have been delivered to the Trustee  for cancellation; or  (ii) all Securities of such series not theretofore delivered to the  Trustee for cancellation,   (A) have become due and payable, or  (B) will become due and payable at  their Stated Maturity within one year, or   (C) if redeemable at the option of the  Company (including, without limitation, by operation of any  mandatory sinking fund), 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 (A), (B) or (C) above, has irrevocably deposited  or caused to be deposited with the Trustee funds in trust for the purpose an  amount in cash in the Currency in which such Securities are payable (subject to  Section 12.08) sufficient to pay and discharge the entire indebtedness on such  Securities for principal and premium, if any, and interest to the date of such  deposit (in the case of Securities that have become due and payable) or to the  Stated Maturity thereof or, in the case of Securities of such series which are to be  called for redemption as contemplated by (C) above, the applicable Redemption  Date, as the case may be, and including any mandatory sinking fund payments as  and when the same shall become due and payable; provided, however, that, if a  Default of the nature described in clauses (e) or (f) of Section 7.01 shall have  occurred at any time during the period ending on and including the date of such  deposit or if the Trustee or any Paying Agent is required to return the monies then  on deposit with or held by the Trustee or such Paying Agent to the Company or to  a trustee in bankruptcy, receiver, conservator or other similar Person, or the  Trustee or any Paying Agent is not permitted to apply any such funds to pay the  principal of and premium, if any, and interest on the Securities of such series  (including to make sinking fund payments) as and when the same shall become  

 

  57    due and payable, the obligations of the Company under this Indenture with  respect to such Securities shall not be deemed terminated or discharged;   (b) the Company has paid or caused to be paid all other sums payable  hereunder by the Company with respect to the Securities of such series; and   (c) the Company has delivered to the Trustee an Officer’s Certificate and an  Opinion of Counsel each stating that all conditions precedent herein provided for relating to the  satisfaction and discharge of this Indenture with respect to such series have been complied with.    Notwithstanding the satisfaction and discharge of this Indenture with respect to the Securities of  any series, the obligations of the Company to the Trustee under Section 11.01, the provisions of  Sections 3.04, 3.05, 3.06, 3.07, 3.10, 6.02 and 6.03 and this Article XII, and, if the Securities of  such series are to be redeemed prior to their Stated Maturity (including, without limitation,  pursuant to a mandatory sinking fund), the provisions of Article IV hereof, and, if the Securities  of such series are convertible into or exchangeable for other securities or property, the rights of  the Holders of such Securities to convert or exchange, and the obligations of the Company to  convert or exchange, such Securities into other securities or property, and, if money shall have  been deposited with the Trustee pursuant to clause (a) of this Section, the obligations of the  Trustee under Section 12.07 and Section 6.03(e) shall survive such satisfaction and discharge.  Section 12.03 Defeasance and Covenant Defeasance upon Deposit of Moneys or U.S.  Government Obligations.  At the Company’s option, either (x) the Company shall be deemed to  have been Discharged (as defined below) from its obligations with respect to Securities of any  series on the first day after the applicable conditions set forth below have been satisfied or (y) the  Company shall cease to be under any obligation to comply with any term, provision or condition  set forth in Section 6.04 and Section 10.02 with respect to Securities of any series (and, if so  specified pursuant to Section 3.01, any other restrictive covenant added for the benefit of such  series pursuant to Section 3.01) (“covenant defeasance”) upon the satisfaction of the applicable  conditions set forth below:   (a) the Company shall have deposited or caused to be deposited irrevocably  with the Trustee as trust funds in trust, specifically pledged as security for, and dedicated solely  to, the benefit of the Holders of the Securities of such series (i) money in the Currency in which  such Securities are payable in an amount, or (ii) U.S. Government Obligations (as defined  below) that, through the payment of interest and principal in respect thereof in accordance with  their terms, will provide, not later than one day before the due date of any payment, money in the  Currency in which such Securities are payable in an amount, or (iii) a combination of (i) and (ii),  sufficient (without consideration of any reinvestment of such principal and interest) to pay and  discharge each installment of principal (including any mandatory sinking fund payments) of and  premium, if any, and interest on, the Outstanding Securities of such series on the dates such  installments of interest or principal and premium are due and, if the Securities of such series are  to be called for redemption as described in clause (d) below, to pay and discharge the  Redemption Price on the Securities called for redemption on the applicable Redemption Date;  (b) no Default with respect to the Securities of such series shall have  occurred and be continuing on the date of such deposit (other than a Default resulting from the  

 

  58    borrowing of funds and the grant of any related liens to be applied to such deposit) and, solely in  the case of Discharge pursuant to clause (x) of the first paragraph of this Section 12.03, no  Default with respect to the Securities of such series under either clause (e) or (f) of Section 7.01  shall have occurred at any time during the period ending on and including the date of such  deposit;  (c) the Company shall have delivered to the Trustee an Opinion of Counsel  to the effect that Holders of the Securities of such series will not recognize income, gain or loss  for U.S. federal income tax purposes as a result of the Company’s exercise of its option under  this Section and will be subject to federal income tax on the same amounts and in the same  manner and at the same times as would have been the case if such option had not been exercised  and, in the case of the Securities of such series being Discharged pursuant to clause (x) of the  first paragraph of this Section 12.03, such Opinion of Counsel shall be based upon and  accompanied by a ruling to that effect received by the Company from or published by the  Internal Revenue Service;  (d) if the monies or U.S. Government Obligations or combination thereof,  as the case may be, deposited under clause (a) above are sufficient to pay the principal of and  premium, if any, and interest on the Securities of such series (including, without limitation, any  mandatory sinking fund payment) or any portion thereof to be redeemed on a particular  Redemption Date (including, without limitation, pursuant to a mandatory sinking fund), the  Company shall have given to the Trustee irrevocable instructions to redeem such Securities on  such date and shall have made arrangements satisfactory to the Trustee for the giving of notice of  such redemption by the Trustee in the name, and at the expense, of the Company; and  (e) the Company shall have delivered to the Trustee an Officers Certificate  and an Opinion of Counsel, each stating that all conditions precedent to such action under this  Indenture have been complied with.  “Discharged” means, with respect to the Securities of any series, that the Company shall  be deemed to have paid and discharged the entire indebtedness represented by, and obligations  under, the Securities of such series and to have satisfied all the obligations under this Indenture  relating to the Securities of such series (and the Trustee, at the expense of the Company, shall  execute proper instruments acknowledging the same), except for the following, all of which shall  survive such Discharge and remain in full force and effect with respect to the Securities of such  series: (A) the rights of Holders of Securities of such series to receive, from the trust fund  described in clause (a) above, payment of the principal of and premium, if any, and interest on  such Securities when such payments are due, (B) Sections 3.04, 3.05, 3.06, 3.07, 3.10, 6.02 and  6.03, (C) if the Securities of such series are to be redeemed prior to their Stated Maturity, the  provisions of Article IV hereof, (D) if the Securities of such series are convertible into or  exchangeable for other securities or property, the rights of the Holders of such Securities to  convert or exchange, and the obligations of the Company to convert or exchange, such Securities  into such other securities or property, (E) the provisions of this Article XII and (F) the rights,  powers, trusts, duties and immunities of the Trustee hereunder.   “U.S. Government Obligations” means securities that are (i) direct obligations of the  United States for the payment of which its full faith and credit is pledged or (ii) obligations of a  

 

  59    Person controlled or supervised by and acting as an agency or instrumentality of the United  States the timely of payment of which is unconditionally guaranteed as a full faith and credit  obligation by the United States, that, in either case under clauses (i) or (ii) are not callable or  redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued  by a bank or trust company as custodian with respect to any such U.S. Government Obligation or  a specific payment of interest on or principal of any such U.S. Government Obligation held by  such custodian for the account of the holder of a depositary receipt; provided that (except as  required by law) such custodian is not authorized to make any deduction from the amount  payable to the holder of such depositary receipt from any amount received by the custodian in  respect of the U.S. Government Obligation or the specific payment of interest on or principal of  the U.S. Government Obligation evidenced by such depositary receipt.  Section 12.04 Repayment to Company.  The Trustee and any Paying Agent shall  promptly pay to the Company (or to its designee) upon delivery of a Company Order any  moneys or U.S. Government Obligations deposited pursuant to Sections 12.02 and 12.03 with  respect to the Securities of any series and held by them that are in excess of the monies and/or  U.S. Government Obligations that were required to effect the satisfaction and discharge,  covenant defeasance or Discharge, as applicable, with respect to the Securities of such series,  including any such moneys or obligations held by the Trustee under any escrow trust agreement  entered into pursuant to Section 12.06.  The provisions of Section 6.03(e) shall apply to any  money held by the Trustee or any Paying Agent under this Article.  Section 12.05 Indemnity for U.S. Government Obligations.  The Company shall pay and  shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against  the deposited U.S. Government Obligations or the principal or interest received on such U.S.  Government Obligations.  Section 12.06 Deposits to Be Held in Escrow.  Any deposits with the Trustee referred to  in Section 12.03 above shall be irrevocable (except to the extent provided in Sections 12.04 and  6.03(e)) and shall be made under the terms of an escrow trust agreement.  If any Outstanding  Securities of a series are to be redeemed prior to their Stated Maturity, whether pursuant to any  optional redemption provisions or in accordance with any mandatory or optional sinking fund  requirement, the applicable escrow trust agreement shall provide therefor and the Company shall  make such arrangements as are satisfactory to the Trustee for the giving of notice of redemption  by the Trustee in the name, and at the expense, of the Company.  Section 12.07 Application of Trust Money.  (a) Neither the Trustee nor any other Paying Agent shall be required to pay  interest on any moneys deposited pursuant to the provisions of this Indenture, except such as it  shall agree with the Company in writing to pay thereon.  (b) Subject to Section 6.03(e), any monies and U.S. Government  Obligations which at any time shall be deposited by the Company or on its behalf with the  Trustee or any other Paying Agent for the purpose of paying the principal of, premium, if any,  and interest on any of the Securities shall be and are hereby assigned, transferred and set over to  the Trustee or such other Paying Agent in trust for the respective Holders of the Securities for the  

 

  60    purpose for which such moneys shall have been deposited, and such funds shall be applied by the  Trustee or Paying Agent in accordance with the provisions of such Securities and this Indenture  to the payment of all sums due and to become due on such Securities in respect of principal and  premium, if any, and interest; but such moneys need not be segregated from other funds except  to the extent required by law.  Anything in this Indenture to the contrary notwithstanding, neither  the Company nor any of its Subsidiaries nor any of their respective Affiliates may act as Paying  Agent for any Securities in respect of which money or U.S. Government Obligations have been  deposited pursuant to this Article XII.  Section 12.08 Deposits of Non-U.S. Currencies.  Notwithstanding the foregoing  provisions of this Article, if the Securities of any series are payable in a Currency other than U.S.  Dollars, the Currency or the nature of the government obligations to be deposited with the  Trustee under the foregoing provisions of this Article shall be as set forth in a Board Resolution,  a Company Order or in one or more supplemental indentures hereto.  ARTICLE XIII    IMMUNITY OF CERTAIN PERSONS  Section 13.01 No Personal Liability.  No recourse shall be had for the payment of the  principal of, or the premium, if any, or interest on, any Security or for any claim based thereon or  otherwise in respect thereof or of the Indebtedness represented thereby, or upon any obligation,  covenant or agreement of this Indenture, against any incorporator, stockholder, officer or  director, 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  constitutional provision, statute or rule of law, or by the enforcement of any assessment or  penalty or otherwise; it being expressly agreed and understood that this Indenture and the  Securities are solely corporate obligations, and that no personal liability whatsoever shall attach  to, or be incurred by, any incorporator, stockholder, officer or director, as such, past, present or  future, of the Company or of any successor corporation, either directly or through the Company  or any successor corporation, because of the incurring of the Indebtedness hereby authorized or  under or by reason of any of the obligations, covenants, promises or agreements contained in this  Indenture or in any of the Securities, or to be implied herefrom or therefrom, and that all liability,  if any, of that character against every such incorporator, stockholder, officer and director is, by  the acceptance of the Securities and as a condition of, and as part of the consideration for, the  execution of this Indenture and the issue of the Securities expressly waived and released.  ARTICLE XIV    SUPPLEMENTAL INDENTURES  Section 14.01 Without Consent of Securityholders.  Except as otherwise provided as  contemplated by Section 3.01 with respect to any series of Securities, the Company 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 one or more of or all the following purposes:   

 

  61    (a) to add to the covenants and agreements of the Company, to be observed  thereafter and during the period, if any, in such supplemental indenture or indentures expressed,  and to add Events of Default, in each case for the protection or benefit of the Holders of all or  any series of the Securities (and if such covenants, agreements and Events of Default are to be  for the benefit of fewer than all series of Securities, stating that such covenants, agreements and  Events of Default are expressly being included for the benefit of such series as shall be identified  therein), or to surrender any right or power herein conferred upon the Company;   (b) to delete or modify any Events of Default with respect to any series of  the Securities, the form and terms of which are being first established pursuant to such  supplemental indenture as permitted in Section 3.01 (and, if any such Event of Default is  applicable to fewer than all such series of the Securities, specifying the series to which such  Event of Default is applicable), and to specify the rights and remedies of the Trustee and the  Holders of such Securities in connection therewith;   (c) to add to or change any of the provisions of this Indenture to provide,  change or eliminate any restrictions on the payment of principal of or premium, if any, on  Securities; provided that any such action shall not adversely affect the interests of the Holders of  Securities of any series in any material respect;   (d) to change or eliminate any of the provisions of this Indenture; provided  that any such change or elimination shall become effective only when there is no Outstanding  Security of any series created prior to the execution of such supplemental indenture that is  entitled to the benefit of such provision and as to which such supplemental indenture would  apply;   (e) to evidence the succession of another entity to the Company, or  successive successions, and the assumption by such successor of the covenants and obligations  of the Company contained in the Securities of one or more series and in this Indenture or any  supplemental indenture;   (f) to evidence and provide for the acceptance of appointment hereunder by  a successor Trustee with respect to one or more series of Securities and to add to or change any  of the provisions of this Indenture as shall be necessary for or facilitate the administration of the  trusts hereunder by more than one Trustee, pursuant to the requirements of Section 11.06(c);  (g) to secure any series of Securities;  (h) to evidence any changes to this Indenture pursuant to Sections 11.05,  11.06 or 11.07 hereof as permitted by the terms thereof;  (i) to cure any ambiguity or inconsistency or to correct or supplement any  provision contained herein or in any indenture supplemental hereto which may be defective or  inconsistent with any other provision contained herein or in any supplemental indenture or to  conform the terms hereof, as amended and supplemented, that are applicable to the Securities of  any series to the description of the terms of such Securities in the offering memorandum,  prospectus supplement or other offering document applicable to such Securities at the time of  initial sale thereof;  

 

  62    (j) to add to or change or eliminate any provision of this Indenture as shall  be necessary or desirable in accordance with any amendments to the Trust Indenture Act;   (k) to add guarantors or co-obligors with respect to any series of Securities  or to release guarantors from their guarantees of Securities in accordance with the terms of the  applicable series of Securities;  (l) to make any change in any series of Securities that does not adversely  affect in any material respect the rights of the Holders of such Securities;  (m) to provide for uncertificated securities in addition to certificated  securities;  (n) to supplement any of the provisions of this Indenture to such extent as  shall be necessary to permit or facilitate the defeasance and discharge of any series of Securities;  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;  (o) to prohibit the authentication and delivery of additional series of  Securities; or   (p)  to establish the form and terms of Securities of any series as permitted  in Section 3.01, or to authorize the issuance of additional Securities of a series previously  authorized or to add to the conditions, limitations or restrictions on the authorized amount, terms  or purposes of issue, authentication or delivery of the Securities of any series, as herein set forth,  or other conditions, limitations or restrictions thereafter to be observed.  Subject to the provisions of Section 14.03, the Trustee is authorized to join with the  Company in the execution of any such supplemental indenture, to make the further agreements  and stipulations which may be therein contained and to accept the conveyance, transfer,  assignment, mortgage or pledge of any property or assets thereunder.   Any supplemental indenture authorized by the provisions of this Section 14.01 may be  executed by the Company and the Trustee without the consent of the Holders of any of the  Securities at the time Outstanding.  Section 14.02 With Consent of Securityholders; Limitations.  (a) With the consent of the Holders (evidenced as provided in Article VIII)  of a majority in aggregate principal amount of the Outstanding Securities of each series affected  by such supplemental indenture voting separately, the Company and the Trustee may, from time  to time and at any time, enter into an indenture or indentures supplemental hereto for the purpose  of adding any provisions to or changing in any manner or eliminating any provisions of this  Indenture or of modifying in any manner the rights of the Holders of the Securities of such series  to be affected; provided, however, that no such supplemental indenture shall, without the consent  of the Holder of each Outstanding Security of each such series affected thereby,   

 

  63    (i) extend the Stated Maturity of the principal of, or any  installment of interest on, any Security, or reduce the principal amount thereof or  the interest thereon or any premium payable thereon, or extend the Stated  Maturity of, or change the place of payment where, or the Currency in which the  principal of and premium, if any, or interest on such Security is denominated or  payable, or reduce the amount of the principal of an Original Issue Discount  Security that would be due and payable upon acceleration of the Maturity thereof  pursuant to Section 7.02, change the ranking of any Security or, in the case of any  subordinated Security, the definition of Senior Indebtedness applicable thereto, or  impair the right to institute suit for the enforcement of any payment on or after the  Stated Maturity thereof (or, in the case of redemption, on or after the Redemption  Date), or materially adversely affect the economic terms of any right to convert or  exchange any Security as may be provided pursuant to Section 3.01; or   (ii) reduce the percentage in principal amount of the  Outstanding Securities of any series, the consent of whose Holders is required for  any 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   (iii) modify any of the provisions of this Section, Section 7.06  or Section 6.06, 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 6.06, or the deletion of this proviso, in  accordance with the requirements of Sections 11.06 and 14.01(f); or   (iv) [reserved]  (v) modify, without the written consent of the Trustee, the  rights, duties or immunities of the Trustee.   (b) A supplemental indenture that changes or eliminates any 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.   (c) It shall not be necessary for the consent of the Securityholders under  this Section 14.02 to approve the particular form of any proposed supplemental indenture, but it  shall be sufficient if such consent shall approve the substance thereof.   (d) The Company may set a record date for purposes of determining the  identity of the Holders of each series of Securities entitled to give a written consent or waive  compliance by the Company as authorized or permitted by this Section.  Such record date shall  

 

  64    not be more than 30 days prior to the first solicitation of such consent or waiver or the date of the  most recent list of Holders furnished to the Trustee prior to such solicitation pursuant to Section  312 of the Trust Indenture Act.   (e) Promptly after the execution by the Company and the Trustee of any  supplemental indenture pursuant to the provisions of this Section 14.02, the Company shall mail  a notice, setting forth in general terms the substance of such supplemental indenture, to the  Holders of Securities at their addresses as the same shall then appear in the Register of the  Company.  Any failure of the Company to mail such notice, or any defect therein, shall not,  however, in any way impair or affect the validity of any such supplemental indenture.  Section 14.03 Trustee Protected.  Upon the request of the Company, accompanied by the  Officer’s Certificate and Opinion of Counsel required by Section 16.01 (provided, however, that  such Officer’s Certificate or Opinion of Counsel need not be provided in connection with the  execution of a supplemental indenture that establishes the terms of a series of Securities pursuant  to Section 2.01 hereof) and evidence reasonably satisfactory to the Trustee of consent of the  Holders if the supplemental indenture is to be executed pursuant to Section 14.02, the Trustee  shall join with the Company in the execution of said supplemental indenture unless said  supplemental indenture affects the Trustee’s own rights, duties or immunities under this  Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated  to, enter into said supplemental indenture.  The Trustee shall be fully protected in relying upon  such Officer’s Certificate and an Opinion of Counsel.  Section 14.04 Effect of Execution of Supplemental Indenture.  Upon the execution of  any supplemental indenture pursuant to the provisions of this Article XIV, this Indenture shall be  deemed to be modified and amended in accordance therewith and, except as herein otherwise  expressly provided, the respective rights, limitations of rights, obligations, duties and immunities  under this Indenture of the Trustee, the Company and the Holders of all of the Securities or of  the Securities of any series affected, as the case may be, shall thereafter be determined, exercised  and enforced hereunder subject in all respects to such modifications and amendments, and all the  terms and conditions of any such supplemental indenture shall be and be deemed to be part of the  terms and conditions of this Indenture for any and all purposes.  Section 14.05 Notation on or Exchange of Securities.  Securities of any series  authenticated and delivered after the execution of any supplemental indenture pursuant to the  provisions of this Article may bear a notation in the form approved by the Trustee as to any  matter provided for in such supplemental indenture.  If the Company or the Trustee shall so  determine, new Securities so modified as to conform, in the opinion of the Trustee and the Board  of Directors of the Company, to any modification of this Indenture contained in any such  supplemental indenture may be prepared and executed by the Company and authenticated and  delivered by the Trustee in exchange for the Securities then Outstanding in equal aggregate  principal amounts, and such exchange shall be made without cost to the Holders of the  Securities.  Section 14.06 Conformity with TIA.  Every supplemental indenture executed pursuant to  the provisions of this Article shall conform to the requirements of the Trust Indenture Act as then  in effect.  

 

  65    ARTICLE XV    SUBORDINATION OF SECURITIES  Section 15.01 Agreement to Subordinate. In the event a series of Securities is designated  as subordinated pursuant to Section 3.01, and except as otherwise provided in a Company Order  or in one or more indentures supplemental hereto, the Company, for itself, its successors and  assigns, covenants and agrees, and each Holder of Securities of such series by his, her or its  acceptance thereof, likewise covenants and agrees, that the payment of the principal of (and  premium, if any) and interest, if any, on each and all of the Securities of such series is hereby  expressly subordinated, to the extent and in the manner hereinafter set forth, in right of payment  to the prior payment in full of all Senior Indebtedness.  In the event a series of Securities is not  designated as subordinated pursuant to Section 3.01(s), this Article XV shall have no effect upon  the Securities.  Section 15.02 Distribution on Dissolution, Liquidation and Reorganization; Subrogation  of Securities. Subject to Section 15.01, upon any distribution of assets of the Company upon any  dissolution, winding up, liquidation or reorganization of the Company, whether in bankruptcy,  insolvency, reorganization or receivership proceedings or upon an assignment for the benefit of  creditors or any other marshalling of the assets and liabilities of the Company or otherwise  (subject to the power of a court of competent jurisdiction to make other equitable provision  reflecting the rights conferred in this Indenture upon the Senior Indebtedness and the holders  thereof with respect to the Securities and the holders thereof by a lawful plan of reorganization  under applicable bankruptcy law):  (a) the holders of all Senior Indebtedness shall be entitled to receive  payment in full of the principal thereof (and premium, if any) and interest due thereon before the  Holders of the Securities are entitled to receive any payment upon the principal (or premium, if  any) or interest, if any, on Indebtedness evidenced by the Securities; and  (b) any payment 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 provisions of this Article XV shall be paid by the  liquidation trustee or agent or other Person making such payment or distribution, whether a  trustee in bankruptcy, a receiver or liquidating trustee or otherwise, directly to the holders of  Senior Indebtedness or their representative or representatives or to the trustee or trustees under  any indenture under which any instruments evidencing any of such Senior Indebtedness may  have been issued, ratably according to the aggregate amounts remaining unpaid on account of the  principal of (and premium, if any) and interest on the Senior Indebtedness held or represented by  each, to the extent necessary to make payment in full of all Senior Indebtedness remaining  unpaid, after giving effect to any concurrent payment or distribution to the holders of such Senior  Indebtedness; and  (c) in the event that, notwithstanding the foregoing, any payment or  distribution of assets of the Company of any kind or character, whether in cash, property or  securities prohibited by the foregoing, shall be received by the Trustee or the Holders of the  Securities before all Senior Indebtedness is paid in full, such payment or distribution shall be  

 

  66    paid over, upon written notice to a Responsible Officer of the Trustee, to the holder of such  Senior Indebtedness or his, her or its representative or representatives or to the trustee or trustees  under any indenture under which any instrument evidencing any of such Senior Indebtedness  may have been issued, ratably as aforesaid, as calculated by the Company, for application to  payment of all Senior Indebtedness remaining unpaid until all such Senior Indebtedness shall  have been paid in full, after giving effect to any concurrent payment or distribution to the holders  of such Senior Indebtedness.  (d) Subject to the payment in full of all Senior Indebtedness, the Holders of  the Securities shall be subrogated to the rights of the holders of Senior Indebtedness (to the  extent that distributions otherwise payable to such holder have been applied to the payment of  Senior Indebtedness) to receive payments or distributions of cash, property or securities of the  Company applicable to Senior Indebtedness until the principal of (and premium, if any) and  interest, if any, on the Securities shall be paid in full and no such payments or distributions to the  Holders of the Securities of cash, property or securities otherwise distributable to the holders of  Senior Indebtedness shall, as between the Company, its creditors other than the holders of Senior  Indebtedness, and the Holders of the Securities be deemed to be a payment by the Company to or  on account of the Securities. It is understood that the provisions of this Article XV are and are  intended solely for the purpose of defining the relative rights of the Holders of the Securities, on  the one hand, and the holders of the Senior Indebtedness, on the other hand. Nothing contained  in this Article XV or elsewhere in this Indenture or in the Securities is intended to or shall  impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and  the Holders of the Securities, the obligation of the Company, which is unconditional and  absolute, to pay to the Holders of the Securities the principal of (and premium, if any) and  interest, if any, on the Securities as and when the same shall become due and payable in  accordance with their terms, or to affect the relative rights of the Holders of the Securities and  creditors of the Company other than the holders of Senior Indebtedness, nor shall anything  herein or in the Securities 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 XV of the holders of Senior Indebtedness in respect of cash,  property or securities of the Company received upon the exercise of any such remedy. Upon any  payment or distribution of assets of the Company referred to in this Article XV, the Trustee,  subject to the provisions of Section 15.06, shall be entitled to conclusively rely upon a certificate  of the liquidating trustee or agent or other person making any distribution to the Trustee for the  purpose of ascertaining the Persons entitled to participate in such distribution, the holders of  Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable  thereon, the amount or amounts paid or distributed thereof and all other facts pertinent thereto or  to this Article XV.  Section 15.03 No Payment on Securities in Event of Default on Senior Indebtedness.  Subject to Section 15.01, no payment by the Company on account of principal (or premium, if  any), sinking funds or interest, if any, on the Securities shall be made at any time if: (i) a default  on Senior Indebtedness exists that permits the holders of such Senior Indebtedness to accelerate  its maturity and (ii) the default is the subject of judicial proceedings or the Company has  received notice of such default. The Company may resume payments on the Securities when full  payment of amounts then due for principal (premium, if any), sinking funds and interest on  Senior Indebtedness has been made or duly provided for in money or money’s worth.  

 

  67    In the event that, notwithstanding the foregoing, any payment shall be received by the  Trustee when such payment is prohibited by the preceding paragraph of this Section 15.03, such  payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the  holders of such Senior Indebtedness or their respective representatives, or to the trustee or  trustees under any indenture pursuant to which any of such Senior Indebtedness may have been  issued, as their respective interests may appear, as calculated by the Company, but only to the  extent that the holders of such Senior Indebtedness (or their representative or representatives or a  trustee) notify the Trustee in writing within 90 days of such payment of the amounts then due  and owing on such Senior Indebtedness and only the amounts specified in such notice to the  Trustee shall be paid to the holders of such Senior Indebtedness.  Section 15.04 Payments on Securities Permitted. Subject to Section 15.01, nothing  contained in this Indenture or in any of the Securities shall (a) affect the obligation of the  Company to make, or prevent the Company from making, at any time except as provided in  Sections 15.02 and 15.03, payments of principal of (or premium, if any) or interest, if any, on the  Securities or (b) prevent the application by the Trustee of any moneys or assets deposited with it  hereunder to the payment of or on account of the principal of (or premium, if any) or interest, if  any, on the Securities, unless a Responsible Officer of the Trustee shall have received at its  Corporate Trust Office written notice of any fact prohibiting the making of such payment from  the Company or from the holder of any Senior Indebtedness or from the trustee for any such  holder, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness or  of the authority of such trustee more than two Business Days prior to the date fixed for such  payment.  Section 15.05 Authorization of Securityholders to Trustee to Effect Subordination.  Subject to Section 15.01, each Holder of Securities by his acceptance thereof authorizes and  directs the Trustee on his, her or its behalf to take such action as may be necessary or appropriate  to effectuate the subordination as provided in this Article XV and appoints the Trustee his  attorney-in-fact for any and all such purposes.  Section 15.06 Notices to Trustee. The Company shall give prompt written notice to a  Responsible Officer of the Trustee of any fact known to the Company that would prohibit the  making of any payment of monies or assets to or by the Trustee in respect of the Securities of  any series pursuant to the provisions of this Article XV.  Subject to Section 15.01,  notwithstanding the provisions of this Article XV or any other provisions of this Indenture,  neither the Trustee nor any Paying Agent (other than the Company) shall be charged with  knowledge of the existence of any Senior Indebtedness or of any fact which would prohibit the  making of any payment of moneys or assets to or by the Trustee or such Paying Agent, unless  and until a Responsible Officer of the Trustee or such Paying Agent shall have received (in the  case of a Responsible Officer of the Trustee, at the Corporate Trust Office of the Trustee) written  notice thereof from the Company or from the holder of any Senior Indebtedness or from the  trustee for any such holder, together with proof satisfactory to the Trustee of such holding of  Senior Indebtedness or of the authority of such trustee and, prior to the receipt of any such  written notice, the Trustee shall be entitled in all respects conclusively to presume that no such  facts exist; provided, however, that if at least two Business Days prior to the date upon which by  the terms hereof any such moneys or assets may become payable for any purpose (including,  without limitation, the payment of either the principal (or premium, if any) or interest, if any, on  

 

  68    any Security) a Responsible Officer of the Trustee shall not have received with respect to such  moneys or assets the notice provided for in this Section 15.06, then, anything herein contained to  the contrary notwithstanding, the Trustee shall have full power and authority to receive such  moneys or assets 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 within two Business  Days prior to such date. The Trustee shall be entitled to rely on the delivery to it of a written  notice by a Person representing himself to be a holder of Senior Indebtedness (or a trustee on  behalf of such holder) to establish that such a notice has been given by a holder of Senior  Indebtedness or a trustee on behalf of any such holder. In the event that the Trustee determines in  good faith that further evidence is required with respect to the right of any Person as a holder of  Senior Indebtedness to participate in any payment or distribution pursuant to this Article XV, the  Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee  as to the amount of Senior Indebtedness 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 XV and, if such evidence is not furnished, the Trustee may defer  any payment to such Person pending judicial determination as to the right of such Person to  receive such payment.  Section 15.07 Trustee as Holder of Senior Indebtedness. Subject to Section 15.01, the  Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XV in  respect of any Senior Indebtedness at any time held by it to the same extent as any other holder  of Senior Indebtedness and nothing in this Indenture shall be construed to deprive the Trustee of  any of its rights as such holder. Nothing in this Article XV shall apply to claims of, or payments  to, the Trustee under or pursuant to Sections 7.05 or 11.01.  Section 15.08 Modifications of Terms of Senior Indebtedness. Subject to Section 15.01,  any renewal or extension of the time of payment of any Senior Indebtedness or the exercise by  the holders of Senior Indebtedness of any of their rights under any instrument creating or  evidencing Senior Indebtedness, including, without limitation, the waiver of default thereunder,  may be made or done all without notice to or assent from the Holders of the Securities or the  Trustee. To the extent permitted by applicable law, no compromise, alteration, amendment,  modification, extension, renewal or other change of, or waiver, consent or other action in respect  of, any liability or obligation under or in respect of, or of any of the terms, covenants or  conditions of any indenture or other instrument under which any Senior Indebtedness is  outstanding or of such Senior Indebtedness, whether or not such release is in accordance with the  provisions of any applicable document, shall in any way alter or affect any of the provisions of  this Article XV or of the Securities relating to the subordination thereof.  Section 15.09 Reliance on Judicial Order or Certificate of Liquidating Agent. Subject to  Section 15.01, upon any payment or distribution of assets of the Company referred to in this  Article XV, the Trustee and the Holders of the Securities shall be entitled to conclusively rely  upon any order or decree entered by any court of competent jurisdiction in which such  insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or  similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, liquidating  trustee, custodian, receiver, assignee for the benefit of creditors, agent or other person making  such payment or distribution, delivered to the Trustee or to the Holders of Securities, for the  purpose of ascertaining the Persons entitled to participate in such payment or distribution, the  

 

  69    holders of Senior Indebtedness 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 XV.  Section 15.10 Satisfaction and Discharge; Defeasance and Covenant Defeasance. Subject  to Section 15.01, amounts and U.S. Government Obligations deposited in trust with the Trustee  pursuant to and in accordance with Article XII and not, at the time of such deposit, prohibited to  be deposited under Sections 15.02 or 15.03 shall not be subject to this Article XV.  Section 15.11 Trustee Not Fiduciary for Holders of Senior Indebtedness.  With respect to  the holders of Senior Indebtedness, the Trustee undertakes to perform or observe only such of its  covenants and obligations as are specifically set forth in this Article XV, and no implied  covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this  Indenture against the Trustee.  The Trustee shall not be deemed to owe any fiduciary duty to the  holders of Senior Indebtedness.  The Trustee shall not be liable to any such holder if it shall pay  over or distribute to or on behalf of Holders of Securities or the Company, or any other Person,  moneys or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this  Article XV or otherwise.  ARTICLE XVI    MISCELLANEOUS PROVISIONS  Section 16.01 Certificates and Opinions as to Conditions Precedent.  (a) Upon any request or application by the Company to the Trustee to take  any action under any of the provisions of this Indenture, the Company shall furnish to the  Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this  Indenture relating to the proposed action have been complied with and an Opinion of Counsel  stating that in the opinion of such counsel all such conditions precedent have been complied  with, except that in the case of any such application or demand as to which the furnishing of such  document is specifically required by any provision of this Indenture relating to such particular  application or demand, no additional certificate or opinion need be furnished.  (b) Each certificate or opinion provided for in this Indenture and delivered  to the Trustee with respect to compliance with a condition or covenant provided for in this  Indenture (other than the certificates provided pursuant to Section 6.05 of this Indenture) shall  include (i) a statement that the Person giving such certificate or opinion has read such covenant  or condition; (ii) a brief statement as to the nature and scope of the examination or investigation  upon which the statements or opinions contained in such certificate or opinion are based; (iii) a  statement that, in the view or opinion of such Person, he or she has made such examination or  investigation as is necessary to enable such Person to express an informed view or opinion as to  whether or not such covenant or condition has been complied with; and (iv) a statement as to  whether or not, in the view or opinion of such Person, such condition or covenant has been  complied with.  

 

  70    (c) Any certificate, statement 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, statement or opinion is based are erroneous.  Any certificate, statement or opinion of  counsel may be based, insofar as it relates to factual matters, upon a certificate, statement 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, statement  or opinion or representations with respect to such matters are erroneous.   (d) Any certificate, statement or opinion of an officer of the Company or of  counsel to the Company may be based, insofar as it relates to accounting matters, upon a  certificate or opinion of, or representations by, an accountant or firm of accountants, unless such  officer or counsel, as the case may be, knows, or in the exercise of reasonable care should know,  that the certificate or opinion or representations with respect to the accounting matters upon  which his or her certificate, statement or opinion may be based are erroneous.  Any certificate or  opinion of any firm of independent registered public accountants filed with the Trustee shall  contain a statement that such firm is independent.   (e) 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.   (f) 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 16.02 Trust Indenture Act Controls.  If and to the extent that any provision of  this Indenture limits, qualifies or conflicts with the duties imposed by, or another provision  included in this Indenture which is required to be included in this Indenture by any of the  provisions of Sections 310 to 318, inclusive, of the Trust Indenture Act, such imposed duties or  incorporated provision shall control.  Section 16.03 Notices to the Company and Trustee.  Any notice or demand authorized  by this Indenture to be made upon, given or furnished to, or filed with, the Company or the  Trustee shall be sufficiently made, given, furnished or filed for all purposes if it shall be mailed,  delivered or telefaxed to:  (a) the Company, at SmileDirectClub, Inc. 414 Union St. 8th Floor,  Nashville, TN 37219, Attention: Troy Crawford, Chief Financial Officer and Susan Greenspon  Rammelt, Chief Legal Officer, email: troy.crawford@smiledirectclub.com and  susan.greenspon@smiledirectclub.com or at such other address or email as may have been  furnished in writing to the Trustee by the Company.  

 

  71    (b) the Trustee, at the Corporate Trust Office of the Trustee, Attention:  Trust Administrator, email: [   ].  Any such notice, demand or other document shall be in the English language.  Section 16.04 Notices to Securityholders; Waiver.  Any notice required or permitted to  be given to Securityholders shall be sufficiently given (unless otherwise herein expressly  provided),   (a) if to Holders, if given in writing by first class mail, postage prepaid, to  such Holders at their addresses as the same shall appear on the Register of the Company;  provided, that in the event of suspension of regular mail service or by reason of any other cause  it shall be impracticable to give notice by mail, then such notification as shall be given with the  approval of the Trustee shall constitute sufficient notice for every purpose hereunder; or    (b) If a series of Securities has been issued in the form of one or more  Global Securities through DTC as Depositary, notice may be provided with respect to such series  of Securities by delivery of such notice to DTC for posting through its “Legal Notice Service”  (LENS) or a successor system thereof.   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 on such waiver.  In any case where notice to Holders is given by mail; neither the  failure to mail such notice nor any defect in any notice so mailed to any particular Holder shall  affect the sufficiency of such notice with respect to other Holders, and any notice that is mailed  in the manner herein provided shall be conclusively presumed to have been duly given.  In any  case where notice to Holders is given by publication, any defect in any notice so published as to  any particular Holder shall not affect the sufficiency of such notice with respect to other Holders,  and any notice that is published in the manner herein provided shall be conclusively presumed to  have been duly given.  Section 16.05 Legal Holiday.  Unless otherwise specified pursuant to Section 3.01, in  any case where any Interest Payment Date, Redemption Date or Maturity of any Security of any  series shall not be a Business Day at any Place of Payment for the Securities of that series, then  payment of principal and premium, if any, or interest 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 such Interest Payment Date, Redemption Date or  Maturity and no interest shall accrue on such payment for the period from and after such Interest  Payment Date, Redemption Date or Maturity, as the case may be, to such Business Day if such  payment is made or duly provided for on such Business Day.  Section 16.06 Effects 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.  

 

  72    Section 16.07 Successors and Assigns.  All covenants and agreements in this Indenture  by the parties hereto shall bind their respective successors and assigns and inure to the benefit of  their permitted successors and assigns, whether so expressed or not.  Section 16.08 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 16.09 Benefits of Indenture.  Nothing in this Indenture expressed and nothing  that may be implied from any of the provisions hereof is intended, or shall be construed, to  confer upon, or to give to, any Person or corporation other than the parties hereto and their  successors and the Holders of the Securities any benefit or any right, remedy or claim under or  by reason of this Indenture or any covenant, condition, stipulation, promise or agreement hereof,  and all covenants, conditions, stipulations, promises and agreements in this Indenture contained  shall be for the sole and exclusive benefit of the parties hereto and their successors and of the  Holders of the Securities.  Section 16.10 Counterparts Originals.  This Indenture may be executed in any number of  counterparts, each of which so executed shall be deemed to be an original, but all such  counterparts shall together constitute but one and the same instrument.  Section 16.11 Governing Law; Waiver of Trial by Jury.  This Indenture and the  Securities shall be deemed to be contracts made under the law of the State of New York, and for  all purposes shall be governed by and construed in accordance with the law of said State.  EACH PARTY HERETO, AND EACH HOLDER OF A SECURITY BY  ACCEPTANCE THEREOF, HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED  BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT  OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN  CONNECTION WITH THIS INDENTURE.  

 

    IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as  of the date first written above.  SmileDirectClub, Inc.,  as Issuer  By:      Name:   Title:       [        ],  as Trustee  By:     Name:   Title:

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