Document:

exv10w37

EXHIBIT 10.37

STEMCELLS, INC.

DIRECTORS’ FEE PLAN

     1. Purpose. The following equity compensation plan, entitled the “Directors’ Fee
Plan” (hereinafter, the “Plan”), was adopted by the Board of Directors of StemCells, Inc.
(the “Company”), effective as of March 16, 2011, to provide a method for paying equity
compensation to one or more of the Company’s directors in lieu of cash compensation otherwise owed
to them for Board service, such as quarterly retainers and meeting attendance fees. Participation
in the Plan is entirely discretionary and open to each of the currently serving non-employee
directors of the Company (each a “Director”). The Plan allows such Directors to elect to
receive certain fees for services to the Company in the form of cash and/or Company common stock.

     2. Establishment. The Plan has been established by the Board under the Company’s
existing Amended and Restated 2006 Equity Incentive Plan (the “2006 Incentive Plan”), as permitted
by section 3 of the 2006 Incentive Plan. All capitalized terms used herein, but not otherwise
defined, shall have the meanings ascribed to them in the 2006 Incentive Plan, which is incorporated
herein by this reference. The Company has reserved 1,000,000 shares of Company common stock under
the 2006 Incentive Plan for issuance under this Plan.

     3. Election of Form of Payment.

     (a) Any Director may, at any time, make an election in the form attached hereto as Exhibit
A to receive a specified percentage of fees for services to be performed by the Director as a
member of the Board, including fees for service on Board committees (any such compensation
hereinafter, the Director’s “Fees”), in the form of cash and/or an Award of Company common
stock. Any election received by the Company’s CEO will become effective on the first day of the
calendar quarter immediately after the calendar quarter in which the election was received by the
Company. Each Director’s election will continue in force and effect until the earlier of: (i) the
end of the Director’s service on the Board, (ii) the consummation of a Covered Transaction, (iii)
termination or expiration of the Plan or the 2006 Incentive Plan, (iv) the date on which the
Company’s common stock is no longer publicly traded, and (v) delivery by the Director of a
superseding election, which will become effective on the first day of the immediately following
calendar quarter, as provided above.

     (b) An individual who first becomes a Director after the beginning of a calendar quarter will
be paid all Fees in cash for the remainder of that calendar quarter, but may make an election
described in Section 3(a) for any future calendar quarter, provided such election is made in
accordance with Section 3(a).

     (c) A Director’s Fees will be paid 100% in cash unless and until he or she makes an election
to the contrary.

 

 

     4. Payment.

     (a) The Company will make a cash payment and/or issue shares of common stock to each Director
participating in the Plan for Fees owed, within five (5) business days of the first business day of
each calendar quarter, in each case in accordance with such Director’s then-current election and
the provisions of the Plan. If a Director has elected, pursuant Section 3, above, to receive any
portion of his or her Fees in the form of an Award of common stock issued under the 2006 Incentive
Plan, the number of shares issuable will be calculated by multiplying the Fees owed by the
percentage to be paid in stock, as provided in the Director’s current election, and then dividing
the product by the closing price of the Company’s common stock, as reported on the applicable U.S.
stock exchange, on the first trading day of the calendar quarter in which payment is made;
provided, however, that the Company will round shares paid down to the nearest whole share. No
partial shares will be issued.

     (b) Any stock Award received pursuant to this Plan will be granted under and pursuant to the
2006 Incentive Plan and will be subject to all of the terms and conditions therein.

     (c) Stock Awards under this Plan will be fully vested. However, the resale or other transfer
of shares issued under the Plan to Directors may be restricted by U.S. securities law as well as by
the Company’s Insider Trading Policies, as may then be in effect.

     (d) Stock Awards may be either certificated or uncertificated, at the Administrator’s
election. Directors must have an active brokerage account in order to participate in the Plan.

     5. Restriction on Alienation. No person shall have any right to sell, assign,
transfer or otherwise convey any rights or obligations hereunder, in whole or in part, whether
voluntarily or involuntarily, which rights and obligations are expressly declared to be
non-assignable and non-transferable.

     6. Section 409A of the Code. Each election hereunder is intended to be exempt from,
or comply with, the requirements of Section 409A of the Internal Revenue Code of 1986, as amended
(the “Code”) and regulations issued thereunder and shall be construed accordingly.
Notwithstanding anything to the contrary in this Plan, neither the Company nor any person acting on
behalf of the Company shall be liable to any Director or to his or her estate or beneficiary by
reason of any acceleration of income, or any additional tax, asserted by reason of the failure of
this Plan to be exempt from or to satisfy the requirements of Section 409A of the Code or by reason
of Section 4999 of the Code.

     7 Successors. The Plan shall be binding upon and shall inure to the benefit of the
Company, its successors and assigns and each participating Director, his or her personal
representatives, designated beneficiary and next-of-kin.

     8. Administration. The Administrator shall have full discretionary power to
administer the Plan, including, but not limited to, the power to interpret the Plan and make and
enforce such rules as it deems necessary or proper for the efficient administration of the Plan.

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Interpretations and determinations under the Plan by the Administrator are binding and conclusive.

     9. Recapitalizations. In the event of any change in the capitalization of the
Company, such as a stock split, reverse stock-split, corporate merger, or reorganization, the
Administrator may make such substitution or adjustments in the aggregate number and kind of shares
reserved for issuance under the Plan, and/or such other equitable substitution or adjustments as it
may determine to be appropriate in its sole discretion; provided, however, that the number of
shares subject to any Award will always be a whole number.

     10. Amendment and Termination. The Board may at any time amend, alter, suspend, or
terminate the Plan. No amendment, alteration, suspension, or termination of the Plan will impair
the vested rights of any Director, unless mutually agreed otherwise in writing by the Company and
the Director.

     11. Governing Law. The Plan will be governed by the laws of the State of California,
without reference to principles of conflict of laws.

	 	 	 	 	 
	StemCells, Inc.

 	 
	By:  	/s/
Kenneth B. Stratton	 
	 	Name:  	  Kenneth B. Stratton, 	 
	 	 General Counsel and Company Secretary 
	 

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Exhibit A: Directors’ Fees Election Form

I,                                         , hereby elect to have my Fees paid to me in the following form (one form of payment should be
marked with an “x”), pursuant to the Directors’ Fees Plan of StemCells, Inc. (“Company”):

	 	 	 	 	 

	 

	 	___
	 	100% cash;
	 

	 	___
	 	50% cash and 50% common stock Award under the 2006 Incentive Plan; or
	 

	 	___
	 	100% common stock Award under the 2006 Incentive Plan.

Common stock should be deposited into the following brokerage account:

____________________________

____________________________

I understand that “Fees” will include payments owed to me for my service on the Company’s Board of
Directors, including its committees, such as the following retainer amounts and attendance fees, if
applicable (as may be amended from time to time):

	 	 	 	 	 

	Retainer, members of the Board

	 	$6,250 each quarter, payable on the
last day of each quarter

	 
	 	 	 	 
	Retainer, Chairman of the Board

	 	$12,500 each quarter, payable on
the last day of each quarter

	 
	 	 	 	 
	Standing Committee Chairmanships

	 	Audit: $2,500 quarterly

	 

	 	Compensation 1,250 quarterly

	 

	 	Nominating/Gov. 1,250 quarterly

	 

	 	Strategic Trans 1,250 quarterly

	 

	 	all payable on the last day of each quarter

	 
	 	 	 	 
	Board Meetings, in person or by
videoconference

	 	$2,000	 
	 
	 	 	 	 
	Meetings of Standing Committees, in
person or by videoconference

	 	$ 1,000	 
	 
	 	 	 	 	 	 	 	 
	Board or Standing Committee Meetings
by phone

	 	$1,000 (Board mtg); $500 (committee
mtg)

I understand that an investment in the Company involves risks and uncertainties and that no
assurance is given that I will be able to sell any stock issued to me under the Plan, at any
particular time or at any particular price.

Accepted and Agreed:

____________________________________

Director

Date: ______________

4exv4w6

EXHIBIT 4.6

 

Celanese US Holdings LLC

as Issuer

AND

Celanese Corporation

as Parent Guarantor

 

INDENTURE

Dated as of [__________], 2011

 

Wells Fargo Bank, National Association

as Trustee

Senior Debt Securities

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	 	Page
	 
	 	 	 	 
	ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE	 	1
	Section 1.1.
	 	Definitions	 	1
	Section 1.2.
	 	Other Definitions	 	5
	Section 1.3.
	 	Rules of Construction	 	5
	ARTICLE II. THE SECURITIES	 	6
	Section 2.1.
	 	Issuable in Series	 	6
	Section 2.2.
	 	Establishment of Terms of Series of Securities	 	6
	Section 2.3.
	 	Execution and Authentication	 	9
	Section 2.4.
	 	Registrar, Paying Agent and Transfer Agent	 	10
	Section 2.5.
	 	Paying Agent to Hold Money in Trust	 	11
	Section 2.6.
	 	Securityholder Lists	 	11
	Section 2.7.
	 	Transfer and Exchange	 	11
	Section 2.8.
	 	Mutilated, Destroyed, Lost and Stolen Securities	 	12
	Section 2.9.
	 	Outstanding Securities	 	12
	Section 2.10.
	 	Treasury Securities	 	13
	Section 2.11.
	 	Temporary Securities	 	13
	Section 2.12.
	 	Cancellation	 	13
	Section 2.13.
	 	Global Securities	 	14
	Section 2.14.
	 	CUSIP Numbers	 	15
	Section 2.15.
	 	Form of Parent Guarantee	 	15
	ARTICLE III. REDEMPTION	 	16
	Section 3.1.
	 	Notice to Trustee; No Liability for Calculations	 	16
	Section 3.2.
	 	Selection of Securities to be Redeemed	 	16
	Section 3.3.
	 	Notice of Redemption	 	17
	Section 3.4.
	 	Effect of Notice of Redemption	 	18
	Section 3.5.
	 	Deposit of Redemption Price	 	18
	Section 3.6.
	 	Securities Redeemed in Part	 	18
	Section 3.7.
	 	Sinking Fund	 	19
	Section 3.8.
	 	Satisfaction of Sinking Fund Payments with Securities	 	19
	Section 3.9.
	 	Redemption of Securities for Sinking Fund	 	19
	ARTICLE IV. COVENANTS	 	20
	Section 4.1.
	 	Payment of Principal, Premium and Interest	 	20
	Section 4.2.
	 	Compliance Certificate	 	20
	Section 4.3.
	 	Stay, Extension and Usury Laws	 	20
	Section 4.4.
	 	Corporate Existence	 	21
	Section 4.5.
	 	Reports	 	21
	ARTICLE V. SUCCESSORS	 	21
	Section 5.1.
	 	Consolidation, Merger and Sale of Assets	 	21
	ARTICLE VI. DEFAULTS AND REMEDIES	 	22
	Section 6.1.
	 	Events of Default	 	22
	Section 6.2.
	 	Acceleration of Maturity; Rescission and Annulment	 	23
	Section 6.3.
	 	Collection of Indebtedness and Suits for Enforcement by Trustee 	 	24
	Section 6.4.
	 	Trustee May File Proofs of Claim	 	24

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	Section 6.5.
	 	Trustee May Enforce Claims Without Possession of Securities	 	25
	Section 6.6.
	 	Application of Money Collected	 	25
	Section 6.7.
	 	Limitation on Suits	 	26
	Section 6.8.
	 	Unconditional Right of Holders to Receive Principal and Interest	 	26
	Section 6.9.
	 	Restoration of Rights and Remedies	 	26
	Section 6.10.
	 	Rights and Remedies Cumulative	 	27
	Section 6.11.
	 	Delay or Omission Not Waiver	 	27
	Section 6.12.
	 	Control by Holders	 	27
	Section 6.13.
	 	Waiver of Past Defaults	 	27
	Section 6.14.
	 	Undertaking for Costs	 	28
	ARTICLE VII. TRUSTEE	 	28
	Section 7.1.
	 	Duties of Trustee	 	28
	Section 7.2.
	 	Rights of Trustee	 	29
	Section 7.3.
	 	May Hold Securities	 	31
	Section 7.4.
	 	Trustee’s Disclaimer	 	31
	Section 7.5.
	 	Notice of Defaults	 	31
	Section 7.6.
	 	Compensation and Indemnity	 	31
	Section 7.7.
	 	Replacement of Trustee	 	32
	Section 7.8.
	 	Successor Trustee by Merger, etc.	 	34
	Section 7.9.
	 	Eligibility; Disqualification	 	34
	Section 7.10.
	 	Preferential Collection of Claims Against Issuer	 	34
	ARTICLE VIII. DISCHARGE OF INDENTURE	 	35
	Section 8.1.
	 	Termination of Issuer’s Obligations	 	35
	Section 8.2.
	 	Application of Trust Money	 	38
	Section 8.3.
	 	Repayment to Issuer or Parent Guarantor	 	38
	Section 8.4.
	 	Reinstatement	 	39
	ARTICLE IX. AMENDMENTS AND WAIVERS	 	39
	Section 9.1.
	 	Without Consent of Holders	 	39
	Section 9.2.
	 	With Consent of Holders	 	40
	Section 9.3.
	 	Limitations	 	41
	Section 9.4.
	 	Form of Amendments	 	41
	Section 9.5.
	 	Revocation and Effect of Consents	 	42
	Section 9.6.
	 	Notation on or Exchange of Securities	 	42
	Section 9.7.
	 	Trustee Protected	 	42
	ARTICLE X. MISCELLANEOUS	 	42
	Section 10.1.
	 	Notices	 	42
	Section 10.2.
	 	Communication by Holders with Other Holders	 	44
	Section 10.3.
	 	Certificate and Opinion as to Conditions Precedent	 	44
	Section 10.4.
	 	Statements Required in Certificate or Opinion	 	44
	Section 10.5.
	 	Rules by Trustee and Agents	 	45
	Section 10.6.
	 	Legal Holidays	 	45
	Section 10.7.
	 	No Personal Liability of Directors, Officers, Employees and Certain Others	 	45
	Section 10.8.
	 	Counterparts	 	45
	Section 10.9.
	 	Governing Laws	 	46
	Section 10.10.
	 	No Adverse Interpretation of Other Agreements	 	46

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	Section 10.11.
	 	Successors	 	46
	Section 10.12.
	 	Severability	 	46
	Section 10.13.
	 	Table of Contents, Headings, Etc.	 	46
	Section 10.14.
	 	Judgment Currency	 	46
	Section 10.15.
	 	English Language	 	47
	Section 10.16.
	 	Submission to Jurisdiction; Appointment of Agent	 	47
	Section 10.17.
	 	Waiver of Immunity	 	48
	Section 10.18.
	 	Waiver of Jury Trial	 	48
	ARTICLE XI. GUARANTEES	 	48
	Section 11.01
	 	Parent Guarantee	 	48
	Section 11.02
	 	Execution and Delivery of Parent Guarantee	 	49
	Section 11.03
	 	Release of Parent Guarantee	 	50

iii

 

Indenture dated as of [__________] between Celanese US Holdings LLC, a Delaware limited
liability company (the “Issuer”), Celanese Corporation, a Delaware corporation (the “Parent
Guarantor”) and Wells Fargo Bank, National Association, as trustee (the “Trustee”).

Each party agrees as follows for the benefit of the other parties and for the equal and
ratable benefit of the Holders (as defined below) of the Securities (as defined below) issued under
this Indenture.

ARTICLE I.

DEFINITIONS AND INCORPORATION BY REFERENCE

Section 1.1.    Definitions.

“Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under common control with such specified Person. For the purposes of this
definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled
by” and “under common control with”), as used with respect to any Person, shall mean the
possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of such Person, whether through the ownership of voting securities or by agreement or
otherwise.

“Agent” means any Registrar, Paying Agent or Transfer Agent or any other agent appointed
pursuant to this Indenture.

“Board of Directors” means the Board of Directors of the Issuer, or any duly authorized
committee thereof.

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Issuer to have been adopted by the Board of Directors or pursuant to authorization
by the Board of Directors and to be in full force and effect on the date of the certification and
delivered to the Trustee.

“Business Day” means, unless otherwise provided by Board Resolution, Officer’s Certificate or
supplemental indenture for a particular Series, any day except a Saturday, Sunday or a Legal
Holiday in The City of New York on which banking institutions are authorized or required by law,
regulation or executive order to close.

“Capital Stock” means (1) in the case of a corporation, corporate stock; (2) in the case of an
association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; (3) in the case of a partnership or limited
liability company, partnership interests (whether general or limited) or membership interests; and
(4) 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.

 

 

“Certificated Securities” means definitive Securities in registered non-global certificated
form.

“Company Order” or “Company Request” means a written order signed in the name of the Issuer by
one of the Officers of the Issuer or the Parent Guarantor, as the case may be.

“Corporate Trust Office” means the office of the Trustee at which at any particular time its
corporate trust business shall be principally administered, which, as of the date hereof is the
address set forth in Section 10.1.

“Default” means any event which is, or after notice or passage of time or both would be, an
Event of Default.

“Depositary” means, with respect to the Securities of any Series issuable or issued in whole
or in part in the form of one or more Global Securities, the Person designated as Depositary for
such Series by the Issuer which Depositary shall be a clearing agency registered under the Exchange
Act; and if at any time there is more than one such Person, “Depositary” as used with respect to
the Securities of any Series shall mean the Depositary with respect to the Securities of such
Series.

“Discount Security” means any Security that provides for an amount less than the stated
principal amount thereof to be due and payable upon declaration of acceleration of the maturity
thereof pursuant to Section 6.2.

“Dollars” or “$” means the currency of The United States of America.

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

“GAAP” means accounting principles generally accepted in the United States of America 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 have been approved
by a significant segment of the accounting profession, which are in effect from time to time.

“Global Security” or “Global Securities” means a Security or Securities, as the case may be,
in the form established pursuant to Section 2.2 evidencing all or part of a Series of Securities,
issued to the Depositary for such Series or its nominee, and registered in the name of such
Depositary or nominee.

“Government Obligations” means securities which are (i) direct obligations of The United
States of America for the payment of which its full faith and credit is pledged or (ii) obligations
of a Person controlled or supervised by and acting as an agency or instrumentality of The United
States of America the payment of which is unconditionally guaranteed as a full faith and credit
obligation by The United States of America, and which in the case of (i) and (ii) are not callable
or redeemable at the option of the issuer thereof, and shall also include a depository receipt
issued by a bank or trust company as custodian with respect to any such Government

2

 

Obligation or a specific payment of interest on or principal of any such Government Obligation
held by such custodian for the account of the holder of a depository receipt, provided that (except
as required by law) such custodian is not authorized to make any deduction from the amount payable
to the holder of such depository receipt from any amount received by the custodian with respect to
the Government Obligation evidenced by such depository receipt.

“Holder” or “Securityholder” means a Person in whose name a Security is registered in the
register maintained by the Registrar.

“Indenture” means this Indenture as amended or supplemented from time to time and shall
include the form and terms of particular Series of Securities established as contemplated
hereunder.

“Issue Date” means, with respect to any Security, the date of original issuance of such
Security.

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

“Officer” means the Chief Executive Officer, Chief Operating Officer, Chief Financial Officer,
Chief Accounting Officer, President, any Vice-President, the Treasurer, a Director, the Chairman,
the Secretary, any Assistant Treasurer or any Assistant Secretary of the Issuer or the Parent
Guarantor, as the case may be.

“Officer’s Certificate” means a certificate signed by an Officer of the Issuer or the Parent
Guarantor, as the case may be.

“Opinion of Counsel” means a written opinion of legal counsel who is acceptable to the
Trustee. The counsel may be a direct or indirect employee of or counsel to the Issuer or the
Parent Guarantor, as the case may be.

“Parent Guarantee” means the unconditional and unsubordinated guarantee by the Parent
Guarantor of the due and punctual payment of principal of and interest on a series of Securities
when and as the same shall become due and payable, whether at the stated maturity, by acceleration,
call for redemption or otherwise in accordance with the terms of the Securities and this Indenture.

“Parent Guarantor” means Celanese Corporation, a Delaware corporation.

“Periodic Offering” means an offering of Securities of a Series from time to time, during
which any or all of the specific terms of the Securities, including the rate or rates of interest,
if any, thereon, the maturity or maturities thereof and the redemption provisions, if any, with
respect thereto, are to be determined by the Issuer or its agents upon the issuance of such
Securities in accordance with the terms of the relevant supplemental indenture.

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

3

 

organization, including a government or political subdivision or an agency or instrumentality
thereof.

“principal” of a Security means the principal of the Security plus, when appropriate, the
premium, if any, on the Security.

“Responsible Officer” means any officer of the Trustee in its Corporate Trust Office
responsible for the administration of this Indenture and also means, with respect to a particular
corporate trust matter, any other officer to whom any corporate trust matter is referred because of
his or her knowledge of and familiarity with a particular subject.

“Restricted Security”, with respect to any Series of Securities, means a Security of such
Series, unless or until it has been (i) effectively registered under the Securities Act and
disposed of in accordance with a registration statement with respect to such Series or (ii)
distributed to the public pursuant to Rule 144 under the Securities Act or any similar provision
then in force.

“SEC” means the Securities and Exchange Commission.

“Securities” means the debentures, notes or other debt instruments of the Issuer of any Series
authenticated and delivered under this Indenture.

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

“Series” or “Series of Securities” means each series of Securities of the Issuer created
pursuant to Sections 2.1 and 2.2 hereof.

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

“Subsidiary” means, with respect to any specified Person, (a) any corporation, association or
other business entity of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency and after giving effect to any voting
agreement or stockholders’ agreement that effectively transfers voting power) to vote in the
election of directors, managers or trustees of the corporation, association or other business
entity which is at the time owned or controlled, directly or indirectly, by that Person or one or more of
the other subsidiaries of that Person (or a combination thereof); and (b) any partnership or
limited liability company of which (x) more than 50% of the capital accounts, distribution rights,
total equity and voting interests or general and limited partnership interests, as applicable, are
owned or controlled, directly or indirectly, by such Person or one or more of the other
subsidiaries of that Person or a combination thereof, whether in the form of membership, general,
special or limited partnership interests or otherwise, and (y) such Person or any subsidiary of
such Person is a controlling general partner or otherwise controls such entity.

“Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean or include each Person who is

4

 

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.

“Unrestricted Securities”, with respect to any Series of Securities, means a Security (i)
effectively registered under the Securities Act and disposed of in accordance with a registration
statement with respect to such Series or (ii) distributed to the public pursuant to Rule 144 under
the Securities Act or any similar provision then in force.

Section 1.2.    Other Definitions.

	 	 	 	 	 
	TERM	 	DEFINED IN
	 	 	SECTION
	 
	 	 	 	 
	“Acceleration Notice”
	 	 	6.2	 
	“Bankruptcy Law”
	 	 	6.1	 
	“covenant defeasance”
	 	 	8.1(b)
	“Custodian”
	 	 	6.1	 
	“Event of Default”
	 	 	6.1	 
	“Issuer”
	 	 	Preamble
	“Judgment Currency”
	 	 	10.14	 
	“legal defeasance”
	 	 	8.1(c)
	“Legal Holiday”
	 	 	10.6	 
	“New York Banking Day”
	 	 	10.14	 
	“Paying Agent”
	 	 	2.4	 
	“Process Agent”
	 	 	10.16	 
	“Registrar”
	 	 	2.4	 
	“Related Proceeding”
	 	 	10.16	 
	“Required Currency”
	 	 	10.14	 
	“Successor Company”
	 	 	5.01	 
	“TIA”
	 	 	7.10	 
	“Transfer Agent”
	 	 	2.4	 

Section 1.3.    Rules of Construction.

Unless the context otherwise requires:

(a)    a term has the meaning assigned to it;

(b)    an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

(c)    “or” is not exclusive and “including” means including without limitation;

(d)    words in the singular include the plural, and in the plural include the singular;
and

5

 

(e)    provisions apply to successive events and transactions.

ARTICLE II.

THE SECURITIES

Section 2.1.    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. All Securities
of a Series shall be identical except as may be set forth in, or pursuant to a Board Resolution,
Officer’s Certificate or supplemental indenture establishing the terms of such Series of
Securities.

Section 2.2.    Establishment of Terms of Series of Securities.

At or prior to the issuance of any Securities within a Series, the following shall be
established (as to the Series generally, in the case of Subsection 2.2.1 and either as to such
Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through
2.2.28) by or pursuant to a Board Resolution, Officer’s Certificate or supplemental indenture:

2.2.1.      the title of the Series of Securities (which shall distinguish the Securities of that
particular Series from the Securities of any other Series);

2.2.2.      any limit upon the aggregate principal amount of the Securities of the Series which may
be authenticated and delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of
the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);

2.2.3.      the date or dates on which the principal and premium, if any, of the Securities of the
Series is payable;

2.2.4.      the rate or rates, which may be fixed or variable, at which the Securities of the
Series shall bear interest or the manner of calculation of such rate or rates, if any, including
any procedures to vary or reset such rate or rates, and the basis upon which interest will be
calculated if other than that of a 360-day year of twelve 30-day months;

2.2.5.      the place or places where the principal of and interest, if any, on the Securities of
the Series shall be payable, where the Securities of such Series may be surrendered for
registration of transfer or exchange and where notices and demands to or upon the Issuer with
respect to the Securities of such Series and this Indenture may be served, and the method of such
payment, if by wire transfer, mail or other means if other than as set forth in this Indenture;

2.2.6.      the date or dates from which interest on the Securities of the Series shall accrue, the
dates on which such interest will be payable or the manner of determination of such dates, and the
record date for the determination of Holders to whom interest is payable on any such dates;

6

 

2.2.7.    any trustees, authenticating agents or paying agents with respect to the Securities of
the Series, if different from those set forth in this Indenture;

2.2.8.    the right, if any, to extend the interest payment periods or defer the payment of
interest and the duration of such extension or deferral;

2.2.9.    if applicable, the period or periods within which, the price or prices at which and the
terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part,
at the option of the Issuer if other than as set forth in this Indenture;

2.2.10.   the obligation, if any, of the Issuer to redeem, repurchase or repay, if other than as
set forth herein, the Securities of the Series pursuant to any sinking fund or analogous
provisions, including payments made in cash in anticipation of future sinking fund obligations, or
at the option of a Holder thereof and the period or periods within which, the price or prices at
which and the terms and conditions upon which Securities of the Series shall be redeemed, purchased
or repaid, in whole or in part, pursuant to such obligation;

2.2.11.    the forms of the Securities of the Series including the form of the Trustee’s
certificate of authentication for such Series;

2.2.12.    if other than denominations of $1,000 or integral multiples of $1,000 in excess
thereof, the denominations in which the Securities of the Series shall be issuable;

2.2.13.    the currency or currencies in which payment of the principal of, premium, if any, and
interest on, the Securities of the Series shall be payable;

2.2.14.    if the principal amount payable at the Stated Maturity of Securities of the Series
will not be determinable as of any one or more dates prior to such Stated Maturity, the amount
which will be deemed to be such principal amount as of any such date for any purpose, including the
portion of the principal amount thereof that will be due and payable upon declaration of
acceleration of the maturity thereof pursuant to Section 6.2 or upon any maturity other than the
Stated Maturity or that will be deemed to be outstanding as of any such date, or, in any such case,
the manner in which such deemed principal amount is to be determined;

2.2.15.    the terms of any repurchase or remarketing rights;

2.2.16.    if the Securities of the Series shall be issued in whole or in part in the form of a
Global Security or Securities, the type of Global Security to be issued; the terms and conditions,
if different from those contained in this Indenture, upon which such Global Security or Securities
may be exchanged in whole or in part for other individual Securities in definitive registered form;
the Depositary for such Global Security or Securities; and the form of any legend or legends to be
borne by any such Global Security or Securities in addition to or in lieu of the legend referred to
in Section 2.14.2;

2.2.17.    whether the Securities of the Series will be convertible into or exchangeable for
other Securities, common shares or other securities of any kind of the Issuer or another obligor,
and, if so, the terms and conditions upon which such Securities will be so convertible or
exchangeable, including the initial conversion or exchange price or rate or the

7

 

method of calculation, how and when the conversion price or exchange ratio may be adjusted,
whether conversion or exchange is mandatory, at the option of the holder or at the Issuer’s option,
the conversion or exchange period, and any other provision in addition to or in lieu of those
described herein;

2.2.18.      any additional restrictive covenants or Events of Default that will apply to the
Securities of the Series, or any changes to the restrictive covenants set forth in Article IV or
the Events of Default set forth in Section 6.01 that will apply to the Securities of the Series,
which may consist of establishing different terms or provisions from those set forth in Article IV
or Section 6.01 or eliminating any such restrictive covenant or Event of Default with respect to
the Securities of the Series;

2.2.19.      any provisions granting special rights to Holders when a specified event occurs;

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

2.2.21.      any special tax implications of the Securities, including provisions for original
issue discount securities, if offered;

2.2.22.      whether and upon what terms Securities of the Series may be defeased if different from
the provisions set forth in this Indenture;

2.2.23.      with regard to the Securities of any Series that do not bear interest, the dates for
certain required reports to the Trustee;

2.2.24.      whether the Securities of any Series will be issued as Unrestricted Securities or
Restricted Securities, and, if issued as Restricted Securities, the rule or regulation promulgated
under the Securities Act in reliance on which they will be sold;

2.2.25.      any guarantees, supplemental to the Parent Guarantee, on the Securities of the Series,
and the terms and conditions upon which any guarantees, including the Parent Guarantee, may be
released or terminated;

2.2.26.      the provisions, if any, relating to any security provided for the Securities of the
Series;

2.2.27.      any Depositaries, interest rate calculation agents, exchange rate calculation agents
or other agents with respect to Securities of such Series if other than those appointed herein; and

2.2.28.      any and all additional, eliminated or changed terms that shall apply to the Securities
of the Series, including any terms that may be required by or advisable under United States laws or
regulations, including the Securities Act and the rules and regulations promulgated thereunder, or
advisable in connection with the marketing of Securities of that Series.

8

 

All Securities of any one Series need not be issued at the same time and may be issued from
time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the
Board Resolution, Officer’s Certificate or supplemental indenture referred to above.

Section 2.3.    Execution and Authentication.

An Officer of the Issuer shall sign the Securities for the Issuer, and an Officer of the
Parent Guarantor shall sign the Parent Guarantees for the Parent Guarantor, in each case by manual
or facsimile signature.

If an Officer whose signature is on a Security or Parent Guarantee no longer holds that office
at the time the Security is authenticated, the Security or Parent Guarantee, as the case may be,
shall nevertheless be valid.

A Security shall not be valid until authenticated by the manual signature of the Trustee or an
authenticating agent. The signature shall be conclusive evidence that the Security has been
authenticated under this Indenture.

The Trustee shall at any time, and from time to time, authenticate Securities for original
issue in the principal amount provided in the Board Resolution, Officer’s Certificate or
supplemental indenture, upon receipt by the Trustee of a Company Order. Each Security shall be
dated the date of its authentication unless otherwise provided by the relevant Board Resolution,
Officer’s Certificate or supplemental indenture.

Notwithstanding the provisions of Section 2.2 and the preceding paragraph, in the case of
Securities offered in a Periodic Offering, the Trustee shall authenticate and deliver such
Securities from time to time in accordance with a Company Order or such other procedures acceptable
to the Trustee as may be specified by or pursuant to a supplemental indenture or the written order
of the Issuer delivered to the Trustee prior to the time of the first authentication of Securities
of such Series.

The aggregate principal amount of Securities of any Series outstanding at any time may not
exceed any limit upon the maximum principal amount for such Series set forth in the Board
Resolution, Officer’s Certificate or supplemental indenture delivered pursuant to Section 2.2.

Prior to the issuance of Securities of any Series, the Trustee shall have received and
(subject to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution,
Officer’s Certificate or supplemental indenture establishing the form of the Securities of that
Series or of Securities within that Series and the terms of the Securities of that Series or of
Securities within that Series, (b) an Officer’s Certificate complying with Section 10.4, and (c) an
Opinion of Counsel complying with Section 10.4. With respect to Securities of a Series subject to
a Periodic Offering, the Trustee conclusively may rely, as to the authorization by the Issuer of
any of such Securities, the forms and terms thereof and the legality, validity, binding effect and
enforceability thereof, upon the written order of the Issuer, Opinion of Counsel, Officer’s
Certificate and other documents delivered pursuant to this Section 2.3 at or prior to the time of
the first authentication of Securities of such Series unless and until such written order, Opinion

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of Counsel, Officer’s Certificate or other documents have been superseded or revoked, and
written notice thereof is provided to Trustee, or expire by their terms.

The Trustee shall have the right to decline to authenticate and deliver any Securities of such
Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken
lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive
committee or a committee of Responsible Officers shall determine that such action would expose the
Trustee to personal liability.

The Trustee may appoint an authenticating agent to authenticate Securities. An authenticating
agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture
to authentication by the Trustee includes authentication by such agent. An authenticating agent
has the same rights as an Agent to deal with the Issuer or an Affiliate of the Issuer.

Section 2.4.    Registrar, Paying Agent and Transfer Agent.

The Issuer will maintain one or more paying agents (each, a “Paying Agent”) for the Securities
in the Borough of Manhattan, City of New York. The initial Paying Agent will be the Trustee and
thereafter “Paying Agent” shall mean or include each Person who is then a Paying Agent hereunder,
and if at any time there is more than one such Person, “Paying Agent” as used with respect to the
Securities of any Series shall mean the Paying Agent with respect to Securities of that Series.
The Issuer, upon written notice to the Trustee accompanied by an Officer’s Certificate, may appoint
one or more paying agents, other than the Trustee, for all or any Series of Securities. If the
Issuer fails to appoint or maintain another entity as paying agent, the Trustee shall act as such.
The Issuer, the Parent Guarantor or any of their Subsidiaries, upon notice to the Trustee, may act
as paying agent.

The Issuer will maintain one or more registrars (each, a “Registrar”) for the Securities in
the Borough of Manhattan, City of New York. The initial Registrar will be the Trustee and
thereafter “Registrar” shall mean or include each Person who is then a Registrar hereunder, and if
at any time there is more than one such Person, “Registrar” as used with respect to the Securities
of any Series shall mean the Registrar with respect to Securities of that Series. The Issuer, upon
written notice to the Trustee accompanied by an Officer’s Certificate, may appoint one or more
registrars, other than the Trustee, for all or any Series of Securities. If the Issuer fails to
appoint or maintain another entity as registrar, the Trustee shall act as such. The Issuer, the
Parent Guarantor or any of their Subsidiaries, upon notice to the Trustee, may act as registrar.

The Issuer will also maintain a transfer agent (each, a “Transfer Agent”) for the Securities
in the Borough of Manhattan, City of New York. The initial Transfer Agent will be the Trustee and
thereafter “Transfer Agent” shall mean or include each Person who is then a Transfer Agent
hereunder, and if at any time there is more than one such Person, “Transfer Agent” as used with
respect to the Securities of any Series shall mean the Transfer Agent with respect to Securities of
that Series. The Issuer, upon written notice to the Trustee accompanied by an Officer’s
Certificate, may appoint one or more transfer agents, other than the Trustee, for all or any Series
of Securities. If the Issuer fails to appoint or maintain another entity as transfer

10

 

agent, the Trustee shall act as such. The Issuer, the Parent Guarantor, or any Subsidiary of
either, upon notice to the Trustee, may act as transfer agent.

The Issuer may change any Paying Agent, Registrar or Transfer Agent for its Securities without
prior notice to the Holders.

Section 2.5.    Paying Agent to Hold Money in Trust.

The Issuer shall require each Paying Agent appointed by it other than the Issuer, the Parent
Guarantor, a Subsidiary of either the Issuer or the Parent Guarantor, or the Trustee to agree in
writing that the Paying Agent will hold in trust, for the benefit of Securityholders of any Series
of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of
or interest on the Series of Securities, and will notify the Trustee of any default by the Issuer
in making any such payment. While any such default continues, the Trustee may require a Paying
Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying
Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying
Agent (if other than the Issuer, the Parent Guarantor or a Subsidiary of either) shall have no
further liability for the money. If the Issuer, the Parent Guarantor or a Subsidiary of either
acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of
Securityholders of any Series of Securities all money held by it as Paying Agent.

Section 2.6.    Securityholder Lists.

The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Securityholders of each Series of Securities.
If the Trustee is not the Registrar, the Issuer shall furnish to the Trustee at least ten days
before each interest payment date and at such other times as the Trustee may request in writing a
list, in such form and as of such date as the Trustee may reasonably require, of the names and
addresses of Securityholders of each Series of Securities.

Section 2.7.    Transfer and Exchange.

Where Securities of a Series are presented to the Registrar or a co-registrar with a request
to register a transfer or to exchange them for an equal principal amount of Securities of the same
Series, the Registrar shall register the transfer or make the exchange if the requirements for such
transactions set forth in this Indenture are met. To permit registrations of transfers and
exchanges, the Trustee shall authenticate Securities at the Registrar’s request upon the Trustee’s
receipt of a Company Order from the Issuer. No service charge shall be made for any registration
of transfer or exchange (except as otherwise expressly permitted herein), but the Issuer may
require payment of a sum sufficient to cover any transfer tax or similar governmental charge
payable in connection therewith (other than any such transfer tax or similar governmental charge
payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6).

Neither the Issuer nor the Registrar shall be required (a) to issue, register the transfer of,
or exchange Securities of any Series for the period beginning at the opening of business fifteen
days immediately preceding the delivery of a notice of redemption of Securities of that Series
selected for redemption and ending at the close of business on the day of such delivery, or (b) to
register the transfer of or exchange Securities of any Series selected, called or

11

 

being called for redemption as a whole or the portion being redeemed of any such Securities
selected, called or being called for redemption in part.

Section 2.8.    Mutilated, Destroyed, Lost and Stolen Securities.

If any mutilated Security is surrendered to the Trustee, the Issuer shall execute a new
Security of the same Series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding, upon which the Parent Guarantor shall execute the Parent Guarantee,
and the Trustee shall authenticate and deliver such new Security in exchange for the Security
surrendered.

If there shall be delivered to the Issuer and the Trustee (i) evidence to their satisfaction
of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be
required by them to save each of them and any agent of either of them harmless, then, in the
absence of notice to the Issuer or the Trustee that such Security has been acquired by a protected
purchaser, the Issuer shall execute, the Parent Guarantor shall execute the Parent Guarantee
thereon and upon receipt of a Company Order, the Trustee shall authenticate and make available for
delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series
and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

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

Upon the issuance of any new Security under this Section 2.8, the Issuer may require the
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith.

Every new Security of any Series issued pursuant to this Section 2.8 in lieu of any destroyed,
lost or stolen Security shall constitute an original additional contractual obligation of the
Issuer whether or not the destroyed, lost or stolen Security shall be at any time enforceable by
anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately
with any and all other Securities of that Series duly issued hereunder.

The provisions of this Section 2.8 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 2.9.    Outstanding Securities.

The Securities outstanding at any time are all the Securities authenticated by the Trustee
except for those canceled by it, those delivered to it for cancellation, those reductions in the
interest on a Security, if applicable, effected by the Trustee in accordance with the provisions
hereof and those described in this Section 2.9 as not outstanding.

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If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the
Trustee receives proof satisfactory to it that the replaced Security is held by a protected
purchaser.

If the Paying Agent (other than the Issuer, a Subsidiary of the Issuer or an Affiliate of the
Issuer) holds on the Maturity of Securities of a Series money sufficient to pay such Securities
payable on that date, then on and after that date such Securities of the Series cease to be
outstanding and interest on them ceases to accrue.

The Issuer may purchase or otherwise acquire the Securities, whether by open market purchases,
negotiated transactions or otherwise. A Security does not cease to be outstanding because the
Issuer or an Affiliate of the Issuer holds the Security.

In determining whether the Holders of the requisite principal amount of outstanding Securities
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the
principal amount of a Discount Security that shall be deemed to be outstanding for such purposes
shall be the amount of the principal thereof that would be due and payable as of the date of such
determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2.

Section 2.10.    Treasury Securities.

In determining whether the Holders of the required principal amount of Securities of a Series
have concurred in any request, demand, authorization, direction, notice, consent or waiver,
Securities of a Series owned by the Issuer, the Parent Guarantor or any Affiliate of the Issuer or
the Parent Guarantor shall be disregarded, except that for the purposes of determining whether the
Trustee shall be protected in relying on any such request, demand, authorization, direction,
notice, consent or waiver only Securities of a Series that a Responsible Officer of the Trustee
knows are so owned shall be so disregarded.

Section 2.11.    Temporary Securities.

Until definitive Securities are ready for delivery, the Issuer may prepare and the Trustee
shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be
substantially in the form of definitive Securities but may have variations that the Issuer
considers appropriate for temporary Securities. Without unreasonable delay, the Issuer shall
prepare and the Trustee upon request shall authenticate definitive Securities of the same Series
and date of maturity in exchange for temporary Securities. Until so exchanged, temporary
securities shall have the same rights under this Indenture as the definitive Securities.

Section 2.12.    Cancellation.

The Issuer at any time may deliver Securities to the Trustee for cancellation. The Agents
shall forward to the Trustee any Securities surrendered to them for registration of transfer,
exchange or payment. The Trustee shall cancel all Securities surrendered for transfer, exchange,
payment, replacement or cancellation and shall destroy such canceled Securities (subject to the
record retention requirement of the Exchange Act) and deliver a certificate of such

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destruction to the Issuer upon written request. The Issuer may not issue new Securities to
replace Securities that it has paid or delivered to the Trustee for cancellation.

Section 2.13.    Global Securities.

2.13.1.    Transfer and Exchange. Notwithstanding any provisions to the contrary
contained in Section 2.7 of this Indenture and in addition thereto, any Global Security shall be
exchangeable pursuant to Section 2.7 of this Indenture for Securities registered in the names of
Holders other than the Depositary for such Security or its nominee only if (i) such Depositary
notifies the Issuer that it is unwilling or unable to continue as Depositary for such Global
Security or if at any time such Depositary ceases to be a clearing agency registered under the
Exchange Act, and, in either case, the Issuer fails to appoint a successor Depositary registered as
a clearing agency under the Exchange Act within 90 days of such event or (ii) the Issuer executes
and delivers to the Trustee an Officer’s Certificate to the effect that such Global Security shall
be so exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence
shall be exchangeable for Securities registered in such names as the Depositary shall direct in
writing in an aggregate principal amount equal to the principal amount of the Global Security with
like tenor and terms.

Except as provided in this Section 2.14.1, a Global Security may not be transferred except as
a whole by the Depositary with respect to such Global Security to a nominee of such Depositary, by
a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such a successor
Depositary.

Neither the Trustee nor any Agent shall have any obligation or duty to monitor, determine or
inquire as to compliance with any tax or securities laws with respect to any restrictions on
transfer imposed under this Indenture or under applicable law (including any transfers between or
among Depositary participants, members or beneficial owners in any Global Security) other than to
require delivery of such certificates and other documentation or evidence as are expressly required
by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the
same to determine substantial compliance as to form with the express requirements hereof.

2.13.2.    Legend. Any Global Security issued hereunder shall bear a legend in
substantially the following form:

“THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED
TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS SECURITY
IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS
NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY
TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH

14

 

NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY.”

2.13.3.    Acts of Holders. The Depositary, as a Holder, may appoint agents and
otherwise authorize participants to give or take any request, demand, authorization, direction,
notice, consent, waiver or other action which a Holder is entitled to give or take under this
Indenture.

2.13.4.    Payments. Notwithstanding the other provisions of this Indenture, unless
otherwise specified as contemplated by Section 2.2, payment of the principal of and interest, if
any, on any Global Security shall be made to the Holder thereof, which in the case of a Depositary
therefore will be made in accordance with its applicable procedures.

2.13.5.    Holders. The Issuer, the Trustee and each Agent shall treat the Person in
whose name any Security is registered in the register maintained by the Registrar as the Holder for
all purposes including for purposes of obtaining any consents, declarations, waivers or directions
permitted or required to be given by the Holders pursuant to this Indenture.

2.13.6.    No Obligation of the Trustee. Neither the Trustee nor any Agent shall have any
responsibility or obligation to any beneficial owner of an interest in a Global Security, a member
of, or a participant in, the Depositary or other Person with respect to the accuracy of the records
of the Depositary or its nominee or of any participant or member thereof, with respect to any
ownership interest in the Securities or with respect to the delivery to any participant, member,
beneficial owner or other Person (other than the Depositary) of any notice (including any notice of
redemption) or the payment of any amount or delivery of any Securities (or other security or
property) under or with respect to such Securities. All notices and communications to be given to
the Holders and all payments to be made to Holders with respect to the Securities shall be given or
made only to or upon the order of the registered Holders (which shall be the Depositary or its
nominee in the case of a Global Security). The rights of beneficial owners in any Global Security
shall be exercised only through the Depositary subject to the applicable rules and procedures of
the Depositary. The Trustee and each Agent may rely and shall be fully protected in relying upon
information furnished by the Depositary with respect to its members, participants and any
beneficial owners.

Section 2.14.    CUSIP Numbers.

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

Section 2.15.    Form of Parent Guarantee.

The form of Parent Guarantee shall be set forth on the applicable Series of Securities
substantially as follows:

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GUARANTEE

For value received, the Parent Guarantor hereby absolutely, unconditionally and irrevocably
guarantees to the holder of this Security the payment of principal of, premium, if any, and
interest on, the Security upon which this Parent Guarantee is set forth in the amounts and at the
time when due and payable whether by declaration thereof, or otherwise, and interest on the overdue
principal and interest, if any, of such Security, if lawful, to the holder of such Security and the
Trustee on behalf of the Holders, all in accordance with and subject to the terms and limitations
of such Security and Article XI of the Indenture. This Parent Guarantee will not become effective
until the Trustee or authenticating agent duly executes the certificate of authentication on this
Security. This Parent Guarantee shall be governed by and construed in accordance with the laws of
the State of New York, without regard to conflict of law principles thereof.

	 	 	 	 	 	 	 

	Dated:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	CELANESE CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 
	 

	 	Name:	 	 	 
	 

	 	Title:	 	 	 

ARTICLE III.

REDEMPTION

Section 3.1.    Notice to Trustee; No Liability for Calculations.

The Issuer may, with respect to any Series of Securities, reserve the right to redeem and pay
such Series of Securities or may covenant to redeem and pay such Series of Securities or any part
thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in
Sections 3.9 and 3.10 hereof or, as applicable, in the Board Resolution, Officer’s Certificate or
supplemental indenture relating to such Series. If a Series of Securities is redeemable and the
Issuer wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the
Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee in
writing of the redemption date and the principal amount of Series of Securities to be redeemed at
least 40 days before a redemption date (or such shorter notice as may be acceptable to the
Trustee). The Trustee shall have no liability with respect to or obligation to calculate the
redemption price of any Securities to be redeemed pursuant to this Indenture.

Section 3.2.    Selection of Securities to be Redeemed.

Unless otherwise indicated for a particular Series by a Board Resolution, Officer’s
Certificate or a supplemental indenture, if less than all of the Securities of a Series are to be
redeemed at any time, the Trustee will select the Securities of a Series to be redeemed on a pro
rata basis (or, in the case of Securities issued in global form based on a method that most nearly
approximates a pro rata selection as the Trustee deems fair and appropriate) unless otherwise

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required by law or applicable stock exchange or Depositary requirements. The Trustee will not
be liable for selections made by it as contemplated in this section.

No Securities of a Series in principal amount of $1,000 or less can be redeemed in part.

Notices of purchase or redemption will be given to each Holder pursuant to Section 3.3 and
Section 10.1.

Section 3.3.    Notice of Redemption.

Unless otherwise indicated for a particular Series by Board Resolution, Officer’s Certificate
or supplemental indenture, at least 30 days but not more than 60 days before a redemption date, the
Issuer will deliver a notice of redemption to each Holder whose Securities are to be redeemed in
accordance with Section 10.1, except that redemption notices may be given more than 60 days prior
to a redemption date if the notice is issued in connection with a defeasance of the Securities or a
satisfaction and discharge of this Indenture pursuant to Article VIII hereof.

The notice shall identify the Securities to be redeemed and corresponding CUSIP, ISIN or
Common Code numbers, as applicable, and will state:

(a)    the redemption date;

(b)    the redemption price and the amount of accrued interest, if any, to be paid;

(c)    if any Global Security is being redeemed in part, the portion of the principal
amount of such Global Security to be redeemed and that, after the redemption date upon
surrender of such Global Security, the principal amount thereof will be decreased by the
portion thereof redeemed pursuant thereto;

(d)    if any Certificated Security is being redeemed in part, the portion of the
principal amount of such Security to be redeemed, and that, after the redemption date, upon
surrender of such Security, a new Certificated Security or Certificated Securities in
principal amount equal to the unredeemed portion thereof will be issued in the name of the
Holder thereof upon cancellation of the original Certificated Security;

(e)    the name and address of the Paying Agent(s) to which the Securities are to be
surrendered for redemption;

(f)    that Securities called for redemption must be surrendered to the relevant Paying
Agent to collect the redemption price, plus accrued and unpaid interest, if any;

(g)    that, unless the Issuer defaults in making such redemption payment, interest on
Securities called for redemption cease to accrue on and after the redemption date;

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(h)    that Securities of the Series called for redemption must be surrendered to the
Paying Agent to collect the redemption price;

(i)    the paragraph of the Securities and/or Section of this Indenture pursuant to which
the Securities called for redemption are being redeemed; and

(j)    that no representation is made as to the correctness or accuracy of the CUSIP, ISIN
or Common Code numbers, if any, listed in such notice or printed on the Securities.

At the Issuer’s written request, the Trustee shall give the notice of redemption in the
Issuer’s name and at its expense; provided, however, that the Issuer has delivered to the Trustee,
at least 40 days prior to the redemption date (or such shorter period of time as the Trustee may
permit), an Officer’s Certificate requesting that the Trustee give such notice and setting forth
the information to be stated in such notice as provided in the preceding paragraph.

Section 3.4.    Effect of Notice of Redemption.

Once notice of redemption is mailed or published as provided in Section 3.3, Securities of a
Series called for redemption become due and payable on the redemption date and at the redemption
price. Unless otherwise indicated for a particular Series by Board Resolution, Officer’s
Certificate or supplemental indenture, a notice of redemption may not be conditional. Upon
surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued
interest to the redemption date.

On or after any purchase or redemption date, unless the Issuer defaults in payment of the
purchase or redemption price, interest shall cease to accrue on Securities or portions thereof
tendered for purchase or called for redemption.

Section 3.5.    Deposit of Redemption Price.

On or before 10:00 a.m., New York City time, on the redemption date, the Issuer shall deposit
with the Paying Agent money in immediately available funds sufficient to pay the redemption price
of and accrued interest, if any, on all Securities to be redeemed on that date.

Section 3.6.    Securities Redeemed in Part.

Upon surrender of a Certificated Security that is redeemed in part, the Trustee shall
authenticate for the Holder a new Certificated Security of the same Series and the same maturity
equal in principal amount to the unredeemed portion of the Security surrendered.

In relation to Certificated Securities, a new Security in principal amount equal to the
unpurchased or unredeemed portion of any Security purchased or redeemed in part will be issued in
the name of the Holder thereof upon cancellation of the original Certificated Security.

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Section 3.7.    Sinking Fund.

Unless otherwise indicated for a particular Series by Board Resolution, Officer’s Certificate
or supplemental indenture, the provisions of Sections 3.7, 3.8 and 3.9 shall be applicable to any
sinking fund for the retirement of Securities of a Series.

The minimum amount of any sinking fund payment provided for by the terms of Securities of any
Series is 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 referred to as an “optional
sinking fund payment.” If provided for by the terms of Securities of any Series, the cash amount
of any sinking fund payment may be subject to reduction as provided in Section 3.8. Each sinking
fund payment shall be applied to the redemption of Securities of any Series as provided for by the
terms of Securities of such Series.

Section 3.8.    Satisfaction of Sinking Fund Payments with Securities.

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

Section 3.9.    Redemption of Securities for Sinking Fund.

Not less than 30 days prior to each sinking fund payment date for any Series of Securities,
the Issuer will deliver to the Trustee an Officer’s Certificate specifying the amount of the next
ensuing sinking fund payment for that Series pursuant to the terms of the Series, the portion
thereof, if any, that is to be satisfied by payment of cash in the currency in which the Securities
of such Series are denominated (except as provided pursuant to Section 2.2), the portion thereof,
if any, that is to be satisfied by delivering and crediting Securities of that Series pursuant to
Section 3.8 and the basis for such credit. Together with such Officer’s Certificate, the Issuer
will deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each
such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such
sinking fund payment date in the manner specified in Section 3.3 and cause notice of the redemption
thereof to be given in the name of and at the expense of the Issuer in the manner provided in
Section 3.3.

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ARTICLE IV.

COVENANTS

Section 4.1.    Payment of Principal, Premium and Interest.

The Issuer covenants and agrees for the benefit of the Holders of each Series of Securities
that it will duly and punctually pay the principal of, premium, if any, and interest, on the
Securities of that Series in accordance with the terms of such Securities and this Indenture.
Unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental indenture for
a particular Series, on or before 10:00 a.m., New York City time, on the applicable payment date,
the Issuer shall deposit with the Paying Agent money sufficient to pay the principal of, premium,
if any, and interest on the Securities of each such Series in accordance with the terms of such
Securities and this Indenture.

Section 4.2.    Compliance Certificate.

The Issuer and the Parent Guarantor shall deliver to the Trustee, within 120 days after the
end of its fiscal year of the Issuer and the Parent Guarantor (which as of the date of this
Indenture is December 31, or if the fiscal year with respect to the Issuer or the Parent Guarantor,
as the case may be, is changed, such other fiscal year end date as the Issuer or the Parent
Guarantor, as the case may be, shall notify to the Trustee in writing), an Officer’s Certificate
stating that a review of the activities of the Issuer, the Parent Guarantor and the Subsidiaries of
each during the preceding fiscal year has been made under the supervision of the signing Officer
with a view to determining whether the Issuer or the Parent Guarantor, as the case may be, has
kept, observed, performed and fulfilled its obligations under this Indenture, and further stating,
as to each such Officer signing such certificate, that to his/her knowledge the Issuer or the
Parent Guarantor, as the case may be, is not in default in the performance or observance of any of
the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have
occurred, describing all such Defaults or Events of Default of which he may have knowledge). Such
Officer’s Certificate need not include a reference to any non-compliance that has been fully cured
prior to the date as of which such certificate speaks.

The Issuer will, so long as any of the Securities are outstanding, deliver to the Trustee,
within 30 days upon becoming aware of any Default or Event of Default, an Officer’s Certificate
specifying such Default or Event of Default and what action the Issuer is taking or proposes to
take with respect thereto.

Section 4.3.    Stay, Extension and Usury Laws.

Each of the Issuer and the Parent Guarantor covenants (to the extent that it may lawfully do
so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time
hereafter in force, which may affect the covenants or the performance of this Indenture or the
Securities; and each of the Issuer and the Parent Guarantor (to the extent it may lawfully do so)
hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by
resort to any such law, hinder, delay or impede the execution of any power herein

20

 

granted to the Trustee, but will suffer and permit the execution of every such power as though
no such law has been enacted.

Section 4.4.    Corporate Existence.

Subject to Article V, each of the Issuer and the Parent Guarantor will do or cause to be done
all things necessary to preserve and keep in full force and effect its corporate existence and
rights (charter and statutory); provided, however, that neither Issuer nor the Parent Guarantor
shall be required to preserve any such right if its Board of Directors shall determine that the
preservation thereof is no longer desirable in the conduct of its business and its Subsidiaries
taken as a whole and that the loss thereof is not adverse in any material respect to the Holders of
the Securities.

Section 4.5.    Reports.

            (a)     So long as any Securities are outstanding, the Issuer shall file with the Trustee,
within 15 days after the Parent Guarantor files with the SEC, copies of the annual reports
and of the information, documents and other reports (or copies of such portions of any of
the foregoing as the SEC may from time to time by rules and regulations prescribe) that the
Parent Guarantor may be required to file with the SEC pursuant to Section 13 or Section
15(d) of the Exchange Act. The Issuer shall be deemed to have complied with the previous
sentence to the extent that such information, documents and reports are filed with the SEC
via EDGAR (or any successor electronic delivery procedure).

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

ARTICLE V.

SUCCESSORS

Section 5.1.    Consolidation, Merger and Sale of Assets.

The Issuer may not, directly or indirectly: (x) consolidate or merge with or into or wind up
into another Person (whether or not the Issuer is the surviving Person); or (y) sell, assign,
transfer, convey or otherwise dispose of all or substantially all of its properties or assets, in
one or more related transactions, to another Person; unless:

            (a)     either: (i) the Issuer is the surviving Person; or (ii) the Person formed by or
surviving any such consolidation or merger (if other than the Issuer) or to which such sale,
assignment, transfer, conveyance or other disposition has been made is a corporation,
limited liability company or limited partnership organized or existing under the laws of the
jurisdiction of organization of the Issuer or the United States, any state of

21

 

the United States, the District of Columbia or any territory thereof (the Issuer or
such Person, as the case may be, hereinafter referred to as the “Successor
Company”);

            (b)     the Successor Company (if other than the Issuer) expressly assumes all the
obligations of the Issuer under the Securities and the Indenture;

            (c)     immediately after such transaction no Default or Event of Default exists;

            (d)     the Issuer shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or transfer and such
amendment or supplement (if any) comply with the Indenture.

The Successor Company shall succeed to, and be substituted for, the Issuer under this
Indenture and the Securities.

ARTICLE VI.

DEFAULTS AND REMEDIES

Section 6.1.    Events of Default.

The following are “Events of Default” with respect to the Securities of any Series, unless in
the establishing Board Resolution, Officer’s Certificate or supplemental indenture, it is provided
that such Series shall not have the benefit of said Event of Default:

            (a)     the Issuer defaults in payment when due and payable, upon redemption, acceleration
or otherwise, of principal of, or premium, if any, on the Notes;

            (b)     the Issuer defaults in the payment when due of interest on or with respect to the
Notes and such default continues for a period of 30 days;

            (c)     the Issuer defaults in the performance of, or breaches any covenant, warranty or
other agreement contained in this Indenture (other than a default in the performance or
breach of a covenant, warranty or agreement which is specifically dealt with in clauses (a)
or (b) above) and such default or breach continues for a period of 90 days after the notice
specified below;

            (d)     the Issuer or the Parent Guarantor pursuant to or within the meaning of any
Bankruptcy Law:

            (1)      commences a voluntary case,

            (2)      consents to the entry of an order for relief against it in an involuntary
case,

            (3)      consents to the appointment of a Custodian of it or for all or
substantially all of its property,

            (4)      makes a general assignment for the benefit of its creditors, or

22

 

            (5)      generally is unable to pay its debts as the same become due; or

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

            (1)      is for relief against the Issuer or the Parent Guarantor in an involuntary
case,

            (2)     appoints a Custodian of the Issuer or the Parent Guarantor or for all or
substantially all of its property, or

            (3)      orders the liquidation of the Issuer or the Parent Guarantor,

and the order or decree remains unstayed and in effect for 60 days;

            (f)      the Parent Guarantee with respect to the Securities of such Series shall for any
reason cease to be, or shall for any reason be asserted in writing by the Parent Guarantor
or the Issuer not to be, in full force and effect and enforceable in accordance with its
terms except to the extent contemplated by this Indenture and such Parent Guarantee; or

            (g)      any other Event of Default provided in the supplemental indenture or Board
Resolution under which such Series of Securities is issued or in the form of Security for
such Series.

The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law for
the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or
similar official under any Bankruptcy Law.

A Default under one Series of Securities issued under this Indenture will not necessarily be a
default under another Series of Securities under this Indenture.

Section 6.2.    Acceleration of Maturity; Rescission and Annulment.

If an Event of Default for a Series of Securities occurs and is continuing (other than an
Event of Default referred to in Section 6.1(e) or (f)), the Trustee or the Holders of at least 25%
in principal amount of such Series of Securities may declare the unpaid principal of all such
Securities to be due and payable by notice in writing to the Issuer and the Trustee specifying the
respective Event of Default and that it is a “notice of acceleration” (the “Acceleration Notice”),
and the same shall become immediately due and payable. If an Event of Default referred to in
Section 6.1(e) or (f) occurs, the principal amount plus accrued and unpaid interest on such Series
of Securities will become immediately due and payable without any action on the part of the Trustee
or any Holder.

At any time after such a declaration of acceleration with respect to any Series has been made
and before a judgment or decree for payment of the money due has been obtained by the Trustee as
hereinafter in this Article VI provided, the Holders of a majority in principal amount of the
outstanding Securities of that Series, by written notice to the Issuer and the

23

 

Trustee, may rescind and annul such declaration and its consequences if all Events of Default
with respect to Securities of that Series, other than the non-payment of the principal and
interest, if any, of Securities of that Series which have become due solely by such declaration of
acceleration, have been cured or waived as provided in Section 6.13.

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

Section 6.3.    Collection of Indebtedness and Suits for Enforcement by Trustee.

The Issuer covenants that if

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

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

            (c)     default is made in the deposit of any sinking fund payment when and as due by the
terms of a Security,

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

If the Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, may institute a judicial proceeding for the collection of
the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may
enforce the same against the Issuer, the Parent Guarantor or any other obligor upon such Securities
and collect the moneys adjudged or deemed to be payable in the manner provided by law out of the
property of the Issuer, the Parent Guarantor or any other obligor upon such Securities, wherever
situated.

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

Section 6.4.    Trustee May File Proofs of Claim.

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the

24

 

Issuer, the Parent Guarantor or any other obligor upon the Securities or the property of the
Issuer, the Parent Guarantor or of such other obligor or their creditors, the Trustee (irrespective
of whether the principal of the Securities shall then be due and payable as therein expressed or by
declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the
Issuer for the payment of overdue principal or interest) shall be entitled and empowered, by
intervention in such proceeding or otherwise,

            (a)      to file and prove a claim for the whole amount of principal and interest owing and
unpaid with respect to the Securities and to file such other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for
the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel) and of the Holders allowed in such judicial proceeding, and

            (b)      to collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute the same,

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.6.

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

Section 6.5.    Trustee May Enforce Claims Without Possession of Securities.

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

Section 6.6.    Application of Money Collected.

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

First:           To the payment of all amounts due the Trustee under Section 7.6;

25

 

Second:           To the payment of the amounts then due and unpaid for principal of, premium, if any,
and interest on the Securities with respect to which or for the benefit of which such money has
been collected, ratably, without preference or priority of any kind, according to the amounts due
and payable on such Securities for principal and interest, respectively; and

Third:               To the Issuer.

Section 6.7.    Limitation on Suits.

A Holder of Securities of any Series may pursue any remedy under this Indenture applicable to
such Securities only if:

            (a)      the Holder gives the Trustee written notice of a continuing Event of Default for
such Series of Securities;

            (b)      the Holders of at least 25% in principal amount of such outstanding Series of
Securities make a written request to the Trustee to pursue the remedy;

            (c)      the Holders furnish to the Trustee indemnity reasonably satisfactory to the Trustee
against the costs, expenses and liabilities which might be incurred by it in compliance with
such request;

            (d)      the Trustee fails to act for a period of 60 days after receipt of notice and
furnishing of indemnity; and

            (e)      during that 60-day period, the Holders of a majority in principal amount of such
Securities do not give the Trustee a direction inconsistent with the request.

This provision does not, however, affect the right of a Holder of Securities to sue for
enforcement of any overdue payment with respect to such Securities.

Section 6.8.    Unconditional Right of Holders to Receive Principal and Interest.

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of and
interest, if any, on such Security on the Stated Maturity or Stated Maturities expressed in such
Security (or, in the case of redemption, on the redemption date) and to institute suit for the
enforcement of any such payment, and such rights shall not be impaired without the consent of such
Holder.

Section 6.9.    Restoration of Rights and Remedies.

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has
been determined adversely to the Trustee or to such Holder, then and in every such case, subject to
any determination in such proceeding, the Issuer, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all

26

 

rights and
remedies of the Trustee and the Holders shall continue as though no such proceeding had been
instituted.

Section 6.10.    Rights and Remedies Cumulative.

Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in Section 2.8, no right or remedy herein conferred upon or
reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not,
to the extent permitted by law, prevent the concurrent assertion or employment of any other
appropriate right or remedy.

Section 6.11.    Delay or Omission Not Waiver.

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

Section 6.12.    Control by Holders.

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

            (a)      such direction shall not be in conflict with any rule of law or with this
Indenture,

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

            (c)      the Trustee shall have the right to decline to follow any such direction if the
Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the
proceeding so directed would involve the Trustee in personal liability or that it will not
be adequately indemnified against the costs, expenses and liabilities which might be
incurred by it in complying with such direction.

Section 6.13.    Waiver of Past Defaults.

The Holders of not less than a majority in principal amount of the outstanding Securities of
any Series may on behalf of the Holders of all the Securities of such Series waive an existing
Default or Event of Default hereunder with respect to such Series and its consequences, except a
Default in the payment of the principal of or interest on any Security of

27

 

such Series (provided,
however, that the Holders of a majority in principal amount of the outstanding Securities of any
Series may rescind an acceleration and its consequences, including any related payment default that
resulted from such acceleration). Upon any such waiver, such Default shall cease to exist, and any
Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right
consequent thereon.

Section 6.14.    Undertaking for Costs.

All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit,
having due regard to the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section shall not apply to any suit instituted by the Issuer
to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders,
holding in the aggregate more than 10% in principal amount of the outstanding Securities of any
Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal
of or interest on any Security on or after the Stated Maturity or Stated Maturities expressed in
such Security (or, in the case of redemption, on the redemption date).

ARTICLE VII.

TRUSTEE

Section 7.1.    Duties of Trustee.

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

            (b)     Except during the continuance of an Event of Default with respect to the Securities
of any Series:

	 	 (1)	 	the Trustee need perform only those duties that
are specifically set forth in this Indenture and no others, and no
implied covenants or obligations shall be read into this Indenture
against the Trustee; and

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

28

 

	 	 	 	their face, they appear to
conform to the requirements of this Indenture.

            (c)      The Trustee may not be relieved from liabilities for its own grossly negligent
action, its own grossly negligent failure to act or its own willful misconduct, except that:

	 	 (1)	 	this paragraph does not limit the effect of
paragraph (b) of this Section 7.1; and

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

            (d)      Whether or not therein expressly so provided, every provision of this Indenture
that in any way relates to the Trustee is subject to the provisions of this Article VII.

            (e)      No provision of this Indenture shall require the Trustee to expend or risk its own
funds or incur any liability. The Trustee may refuse to perform any duty or exercise any
right or power unless it receives indemnity reasonably satisfactory to it against any loss,
liability or expense.

            (f)      The Trustee shall not be liable for interest on or investment of any money received
by it except as the Trustee may agree in writing with the Issuer. Money held in trust by
the Trustee need not be segregated from other funds except to the extent required by law.
All money received by the Trustee shall, until applied as herein provided, be held in trust
for the payment of the principal of and premium (if any) and interest on the Securities.

Section 7.2.    Rights of Trustee.

            (a)      The Trustee may conclusively rely and shall be fully protected in acting or
refraining from acting, upon any resolution, certificate, statement, instrument, opinion,
report, notice, request, direction, consent, order, note, debenture or other paper or
document believed by it to be genuine and to have been signed or presented by the proper
Person. The Trustee need not investigate any fact or matter stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent,
order, bond, security or other paper or document.

            (b)      Before the Trustee acts or refrains from acting, it may require instruction, an
Officer’s Certificate or an Opinion of Counsel or both to be provided by the Issuer.
The Trustee shall not be liable for any action it takes or omits to take in good faith
in reliance on such instruction, Officer’s Certificate or Opinion of Counsel. The Trustee
may consult with counsel and the written advice of such counsel or any Opinion of Counsel
shall be full and complete authorization and protection with respect to any action taken,
suffered or omitted by it hereunder in good faith and in reliance thereon.

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            (c)      The Trustee may act through agents, attorneys, custodians or nominees and shall not
be responsible for the misconduct or negligence of any agent, attorney, custodian or nominee
appointed with due care.

            (d)      The Trustee shall not be liable for any action it takes or omits to take in good
faith which it believes to be authorized or within its rights or powers conferred upon it by
this Indenture or with respect to any action it takes or omits to take in good faith in
accordance with a direction received by it from the Holders of a majority in aggregate
principal amount of the relevant Series of Securities.

            (e)      Unless otherwise specifically provided in this Indenture, any demand, request,
direction or notice from the Issuer shall be sufficient if signed by an Officer of the
Issuer.

            (f)      Anything in this Indenture to the contrary notwithstanding, in no event shall the
Trustee be liable under or in connection with this Indenture for indirect, special,
incidental, punitive or consequential losses or damages of any kind whatsoever, including
but not limited to lost profits, whether or not foreseeable, even if the Trustee has been
advised of the possibility thereof and regardless of the form of action in which such
damages are sought.

            (g)      The Trustee shall be under no obligation to exercise any of the trusts or powers
vested in it by this Indenture at the request, order or direction of any of the Holders of
Securities pursuant to the provisions of this Indenture, unless such Holders of Securities
shall have offered to the Trustee, security or indemnity reasonably satisfactory to the
Trustee against the costs, expenses and liabilities which might be incurred therein or
thereby.

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

            (i)      The Trustee may at any time request, and the Issuer shall deliver an Officer’s
Certificate setting forth the specimen signatures and the names of individuals and/or titles
of Officers authorized at such time to take specified actions pursuant to this Indenture,
which Officer’s Certificate may be signed by any Person authorized to sign an Officer’s
Certificate, including any Person specified as so authorized in any such certificate
previously delivered and not superseded.

            (j)      Notwithstanding any provision herein to the contrary, in no event shall the Trustee
be liable for any failure or delay in the performance of its obligations under this
Indenture because of circumstances beyond its control, including, but not limited to, acts
of God, flood, war (whether declared or undeclared), terrorism, fire, riot, strikes or work
stoppages for any reason, embargo, government action, including any laws, ordinances,
regulations or the like which restrict or prohibit the providing of the services

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contemplated by this Indenture, inability to obtain material, equipment, or communications
or computer facilities, or the failure of equipment or interruption of communications or
computer facilities, and other causes beyond its control whether or not of the same class or
kind as specifically named above.

            (k)     The rights, privileges, protections, immunities and benefits given to the Trustee,
including its right to be indemnified, are extended to, and shall be enforceable by, the
Trustee in each of its capacities hereunder, each Agent, and each other agent, custodian and
other Person employed to act hereunder.

Section 7.3.    May Hold Securities.

The Trustee in its individual or any other capacity may become the owner or pledgee of
Securities and may otherwise deal with the Issuer or any of its Affiliates with the same rights it
would have if it were not Trustee. Any Agent may do the same with like rights and duties.
However, the Trustee is subject to Sections 7.9 and 7.10.

Section 7.4.    Trustee’s Disclaimer.

The Trustee makes no representation as to the validity, sufficiency or adequacy of any
offering materials, this Indenture or the Securities, it shall not be accountable for the Issuer’s
use of the proceeds from the Securities or any money paid to the Issuer or upon the Issuer’s
direction under any provision hereof, it shall not be responsible for any statement or recital
herein or any statement in any offering materials or the Securities other than its certificate of
authentication.

Section 7.5.    Notice of Defaults.

If a Default or Event of Default with respect to the Securities of any Series occurs and is
continuing and it is actually known to the Trustee, the Trustee shall mail to Holders of Securities
of such Series a notice of the Default or Event of Default within 90 days after it occurs. Except
in the case of a Default or Event of Default in payment of principal of and premium (if any) and
interest on any sinking fund installment with respect to the Securities of such Series, the Trustee
may withhold the notice if and so long as a Responsible Officer in good faith determines that
withholding the notice is in the interests of Holders of Securities of such Series to do so.

Section 7.6.    Compensation and Indemnity.

The Issuer agrees to pay to the Trustee for its acceptance of this Indenture and services
hereunder such compensation as the Issuer and the Trustee shall from time to time agree in writing.
The Trustee’s compensation shall not be limited by any law on compensation of a
trustee of an express trust. The Issuer agrees to reimburse the Trustee upon request for all
reasonable disbursements, advances and expenses incurred by it. Such expenses shall include the
reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel.

The Issuer and the Parent Guarantor shall indemnify the Trustee from, and hold it harmless
against any damage, cost, claim, loss, liability or expense (including the reasonable fees

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and expenses of the Trustee’s agents and counsel) incurred by it arising out of or in connection with
its acceptance and administration of the trusts set forth under this Indenture, the performance of
its obligations and/or the exercise of its rights hereunder, including the reasonable costs and
expenses of defending itself against any claim, except as set forth in the next following
paragraph. The Trustee shall notify the Issuer promptly of any claim for which it may seek
indemnity. The Issuer shall defend the claim, with counsel reasonably acceptable to the Trustee,
and the Trustee shall cooperate in the defense, unless, the Trustee, in its reasonable discretion,
determines that any actual or potential conflict of interest may exist, in which case the Trustee
may have separate counsel, reasonably acceptable to the Issuer and the Issuer shall pay the
reasonable fees and expenses of such counsel. The Issuer need not pay for any settlement made
without its consent.

The Issuer shall not be obligated to reimburse any expense or indemnify against any loss or
liability incurred by the Trustee through the Trustee’s own gross negligence or bad faith.

To secure the payment obligations of the Issuer in this Section 7.6, the Trustee shall have a
lien prior to the Securities on all money or property held or collected by the Trustee, except that
held in trust to pay principal of and premium (if any) and interest on Securities of any Series.
Such lien and the obligations of the Issuer and the Parent Guarantor under this Section 7.6 shall
survive the satisfaction and discharge of this Indenture, the payment of the Securities and/or the
resignation or removal of the Trustee.

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

Section 7.7.    Replacement of Trustee.

A resignation or removal of the Trustee and appointment of a successor Trustee shall become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section
7.7.

The Trustee may resign and be discharged at any time with respect to the Securities of one or
more Series by so notifying the Issuer. The Holders of a majority in principal amount of the then
outstanding Securities of any Series may remove the Trustee with respect to the Securities of such
Series by so notifying the Trustee and the Issuer. The Issuer may remove the Trustee for any or
all Series of the Securities if:

            (a)     the Trustee fails to comply with Section 7.9;

            (b)     the Trustee is adjudged as bankrupt or an insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law;

            (c)     a Custodian or public officer takes charge of the Trustee or its property; or

            (d)     the Trustee becomes incapable of acting.

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If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any
reason, with respect to the Securities of one or more Series, the Issuer shall promptly appoint a
successor Trustee or Trustees with respect to the Securities of that or those Series (it being
understood that any such successor Trustee may be appointed with respect to the Securities of one
or more or all of such Series). Within one year after the successor Trustee with respect to the
Securities of any Series takes office, the Holders of a majority in principal amount of the
Securities of such Series then outstanding may appoint a successor Trustee to replace the successor
Trustee appointed by the Issuer.

If a successor Trustee with respect to the Securities of any Series does not take office
within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer
or the Holders of at least 10% in principal amount of the then outstanding Securities of such
Series may petition any court of competent jurisdiction for the appointment of a successor Trustee
with respect to the Securities of such Series.

If the Trustee with respect to the Securities of a Series fails to comply with Section 7.9,
any Holder of Securities of such Series may petition any court of competent jurisdiction for the
removal of the Trustee and the appointment of a successor Trustee with respect to the Securities of
such Series.

In case of the appointment of a successor Trustee with respect to all Securities, each such
successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and
to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become
effective, and the successor Trustee shall have all the rights, powers and duties of the retiring
Trustee under this Indenture. The successor Trustee shall give a notice of its succession to
Holders in accordance with Section 10.2. The retiring Trustee shall promptly transfer all property
held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6.

In case of the appointment of a successor Trustee with respect to the Securities of one or
more Series, the Issuer, the retiring Trustee and each successor Trustee with respect to the
Securities of one or more Series shall execute and deliver an indenture supplemental hereto in
which each successor Trustee shall accept such appointment and that (1) shall confer to each
successor Trustee all the rights, powers and duties of the retiring Trustee with respect to the
Securities of that or those Series to which the appointment of such successor Trustee relates, (2)
if the retiring Trustee is not retiring with respect to all Securities, shall confirm that all the
rights, powers and duties of the retiring Trustee with respect to the Securities of that or those
Series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring
Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more than one
Trustee. Nothing
herein or in such supplemental indenture shall constitute such Trustees co-trustees of the
same trust, and each such Trustee shall be trustee of a trust or trusts hereunder separate and
apart from any trust or trusts hereunder administered by any other such Trustee. Upon the
execution and delivery of such supplemental indenture, the resignation or removal of the retiring
Trustee shall become effective to the extent provided therein and each such successor Trustee shall
have all the rights, powers and duties of the retiring Trustee with respect to the Securities of
that or those Series to which the appointment of such successor Trustee relates. On request of the
Issuer, or

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any successor Trustee, such retiring Trustee shall transfer to such successor Trustee
all property held by such retiring Trustee as Trustee with respect to the Securities of that or
those Series to which the appointment of such successor Trustee relates. Such retiring Trustee
shall, however, have the right to deduct its unpaid fees and expenses, including attorneys’ fees.

Notwithstanding replacement of the Trustee or Trustees pursuant to this Section 7.7, the
obligations of the Issuer and the Parent Guarantor under Section 7.6 shall continue for the benefit
of the retiring Trustee or Trustees.

Section 7.8.    Successor Trustee by Merger, etc.

Subject to Section 7.9, if the Trustee consolidates, merges or converts into, or transfers all
or substantially all of its corporate trust business (including this transaction) to, another
corporation, the successor corporation without any further act shall be the successor Trustee.

In case any Securities shall have been authenticated, but not delivered, by the Trustee then
in office, any successor by merger, conversion or consolidation to such authenticating Trustee may
adopt such authentication and deliver the Securities so authenticated; 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 to
the 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.

Section 7.9.    Eligibility; Disqualification.

There shall at all times be a Trustee hereunder which shall be a corporation organized and
doing business under the laws of the United States, any State thereof or the District of Columbia
and authorized under such laws to exercise corporate trust power, shall be subject to supervision
or examination by Federal or State (or the District of Columbia) authority and shall have, or be a
subsidiary of a bank or bank holding company having, a combined capital and surplus of at least $50
million as set forth in its most recent published annual report of condition.

Section 7.10.    Preferential Collection of Claims Against Issuer.

The Trustee is subject to and shall comply with the provisions of the Trust Indenture Act of
1933, as amended (the “TIA”) § 311(a), as if such section applied hereto, excluding any creditor
relationship listed in TIA § 311(b). A Trustee who has resigned or been
removed shall be subject to TIA § 311(a), as if such section applied hereto, to the extent
indicated therein.

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ARTICLE VIII.

DISCHARGE OF INDENTURE

Section 8.1.    Termination of Issuer’s Obligations.

(a)      This Indenture shall cease to be of further effect with respect to the Securities of a
Series (except that all obligations of the Issuer and the Parent Guarantor under Section 7.6, the
Trustee’s and Paying Agent’s obligations under Section 8.3 and the rights, powers, protections and
privileges accorded the Trustee under Article VII shall survive), and the Trustee, on written
demand of the Issuer shall execute instruments acknowledging the satisfaction and discharge of this
Indenture with respect to the Securities of such Series, when:

	 	(1)	 	    either

(A)  all outstanding Securities of such Series theretofore
authenticated and issued (other than destroyed, lost or stolen
Securities that have been replaced or paid) have been delivered
to the Trustee for cancellation; or

(B)  all outstanding Securities of such Series not theretofore
delivered to the Trustee for cancellation:

(i)   have become due and payable, or

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

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

and, in the case of clause (i), (ii) or (iii) above, the Issuer or the Parent Guarantor has
irrevocably deposited or caused to be deposited with the Trustee as funds (immediately
available to the Holders in the case of clause (i)) in trust for such purpose (x) cash in an
amount, or (y) Government Obligations, maturing as to principal and interest at such times
and in such amounts as will ensure the availability of cash in an amount or (z) a
combination thereof which will be sufficient, in the opinion (in the case of (y) or (z)) of
a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and discharge the entire indebtedness
on the Securities of such Series for principal and interest to the date of such deposit (in
the case of Securities which have become due and payable) or for principal, premium, if any,
and interest to the Stated Maturity or redemption date, as the case may be; or

(C)  the Issuer or the Parent Guarantor has properly fulfilled
such other means of satisfaction and discharge, as contemplated
by Section 2.2 to be applicable to the Securities of such Series;

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            (2)     the Issuer or the Parent Guarantor has paid or caused to be paid all other
sums payable by it hereunder with respect to the Securities of such Series; and

            (3)      the Issuer or the Parent Guarantor, as the case may be, has delivered to
the Trustee an Officer’s Certificate stating that all conditions precedent to
satisfaction and discharge of this Indenture with respect to the Securities of such
Series have been complied with, together with an Opinion of Counsel to the same
effect.

(b)     Unless this Section 8.1(b) is specified as not being applicable to Securities of a Series
as contemplated by Section 2.2, each of the Issuer and the Parent Guarantor may terminate certain
of its obligations under this Indenture (“covenant defeasance”) with respect to the Securities of a
Series if:

            (1)      either the Issuer or the Parent Guarantor has irrevocably deposited or
caused to be irrevocably deposited with the Trustee as trust funds in trust for the
purpose of making the following payments, specifically pledged as security for and
dedicated solely to the benefit of the Holders of Securities of such Series, (i)
money, or (ii) Government Obligations with respect to such Series, maturing as to
principal and interest at such times and in such amounts as will ensure the
availability of money in the currency in which payment of the Securities of such
Series is to be made in an amount or (iii) a combination thereof, that is
sufficient, in the opinion (in the case of (ii) and (iii)) of a nationally
recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay the principal of and premium
(if any) and interest on all Securities of such Series on each date that such
principal, premium (if any) or interest is due and payable and (at the Stated
Maturity thereof or upon redemption as provided in Section 8.1(e)) to pay all other
sums payable by it hereunder; provided that the Trustee shall have been irrevocably
instructed to apply such money and/or the proceeds of such Government Obligations to
the payment of said principal, premium (if any) and interest with respect to the
Securities of such Series as the same shall become due;

            (2)      the Issuer or the Parent Guarantor, as the case may be, has delivered to
the Trustee an Officer’s Certificate stating that all conditions precedent to
satisfaction and discharge of this Indenture with respect to the Securities of such
Series have been complied with, and an Opinion of Counsel to the same effect;

            (3)      no Default or Event of Default with respect to the Securities of such
Series shall have occurred and be continuing on the date of such deposit
(other than a Default or Event of Default resulting from the borrowing of funds
to be applied to such deposit and the grant of any lien securing such borrowings);

            (4)      the Issuer or the Parent Guarantor, as the case may be, shall have
delivered to the Trustee an Opinion of Counsel from a nationally recognized

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counsel acceptable to the Trustee or a tax ruling to the effect that the Holders will not
recognize income, gain or loss for Federal income tax purposes as a result of such
Issuer or Parent Guarantor’s exercise of its option under this Section 8.1(b) and
will be subject to Federal income tax on the same amount and in the same manner and
at the same times as would have been the case if such option had not been exercised;
and

            (5)      the Issuer and the Parent Guarantor have complied with any additional
conditions specified pursuant to Section 2.2 to be applicable to the discharge of
Securities of such Series pursuant to this Section 8.1.

In such event, this Indenture shall cease to be of further effect (except as set forth in this
paragraph), and the Trustee, on written demand of the Issuer or the Parent Guarantor, as the case
may be, shall execute instruments acknowledging satisfaction and discharge under this Indenture.
However, the Issuer’s obligations in Sections 2.4, 2.5, 2.6, 2.7, 2.8, 4.1, 5.1, 7.6 and 7.7, the
Parent Guarantor’s obligations in Section 5.1 and 7.6, the Trustee’s and Paying Agent’s obligations
in Section 8.3 and the rights, powers, protections and privileges accorded the Trustee under
Article VII shall survive until all Securities of such Series are no longer outstanding.
Thereafter, only the obligations of the Issuer and the Parent Guarantor in Section 7.6 and the
Trustee’s and Paying Agent’s obligations in Section 8.3 shall survive with respect to Securities of
such Series.

In order to have money available on a payment date to pay principal of or premium (if any) or
interest on the Securities, the Government Obligations shall be payable as to principal or interest
on or before such payment date in such amounts as will provide the necessary money. Government
Obligations shall not be callable at the Issuer’s option.

(c)      If the Issuer or the Parent Guarantor, as the case may be, has previously complied or is
concurrently complying with the conditions set forth in Section 8.1(b) (other than any additional
conditions specified pursuant to Section 2.2 that are expressly applicable only to covenant
defeasance) with respect to Securities of a Series, then unless this Section 8.1(c) is specified as
not being applicable to Securities of such Series as contemplated by Section 2.2, each of the
Issuer and the Parent Guarantor may elect to be discharged (“legal defeasance”) from its
obligations to make payments with respect to Securities of such Series, if:

           (1)      unless otherwise specified with respect to Securities of such Series as
contemplated by Section 2.2, the Issuer or the Parent Guarantor, as the case may be,
has delivered to the Trustee an Opinion of Counsel from a nationally recognized
counsel acceptable to the Trustee to the effect referred to in Section 8.1(b)(4)
with respect to such legal defeasance, which opinion is based on (i) a private
ruling of the Internal Revenue Service addressed to the Issuer or the Parent
Guarantor, as the case may be, (ii) a published ruling of the Internal
Revenue Service or (iii) a change in the applicable federal income tax law
(including regulations) after the date of this Indenture; the Issuer or the Parent
Guarantor, as the case may be, has complied with any other conditions specified
pursuant to Section 2.2 to be applicable to the legal defeasance of Securities of
such Series pursuant to this Section 8.1(c); and

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            (2)      the Issuer or the Parent Guarantor, as the case may be, has delivered to
the Trustee a Company Request requesting such legal defeasance of the Securities of
such Series and an Officer’s Certificate stating that all conditions precedent with
respect to such legal defeasance of the Securities of such Series have been complied
with, together with an Opinion of Counsel to the same effect.

In such event, each of the Issuer and the Parent Guarantor will be discharged from its
obligations under this Indenture and the Securities of such Series to pay principal of and premium
(if any) and interest on Securities of such Series, the Issuer’s obligations under Sections 4.1 and
5.1 and the Parent Guarantor’s obligations under Section 5.1 shall terminate with respect to such
Securities, and the entire indebtedness of the Issuer evidenced by such Securities shall be deemed
paid and discharged.

(d)     If and to the extent additional or alternative means of satisfaction, discharge or
defeasance of Securities of a Series are specified to be applicable to such Series as contemplated
by Section 2.2, each of the Issuer and the Parent Guarantor may terminate any or all of its
obligations under this Indenture with respect to the Securities of a Series and any or all of its
obligations under the Securities of such Series if it fulfills such other means of satisfaction and
discharge as may be so specified, as contemplated by Section 2.2, to be applicable to the
Securities of such Series.

(e)      If Securities of any Series subject to subsections (a), (b), (c) or (d) of this Section
8.1 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 provisions, the terms of
the applicable trust arrangement shall provide for such redemption, and the Issuer shall make such
arrangements as are reasonably satisfactory to the Trustee for the giving of notice of redemption
in the name, and at the expense, of the Issuer.

Section 8.2.    Application of Trust Money.

The Trustee or a trustee satisfactory to the Trustee and the Issuer shall hold in trust money
or Government Obligations deposited with it pursuant to Section 8.1 hereof. It shall apply the
deposited money and the money from Government Obligations through the Paying Agent and in
accordance with this Indenture to the payment of principal of and premium (if any) and interest on
the Securities of the Series with respect to which the deposit was made.

Section 8.3.    Repayment to Issuer or Parent Guarantor.

The Trustee and the Paying Agent shall promptly pay to the Issuer or the Parent Guarantor, as
the case may be, upon written request any excess money or Government Obligations (or proceeds
therefrom) held by them at any time upon the written request of the Issuer or the Parent Guarantor,
as the case may be.

Subject to the requirements of any applicable abandoned property laws, the Trustee and the
Paying Agent shall pay to the Issuer or the Parent Guarantor, as the case may be, upon written
request any money held by them for the payment of principal, premium (if any) or interest that
remains unclaimed for two years after the date upon which such payment shall have become due.
After payment to the Issuer or the Parent Guarantor, as the case may be, Holders

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entitled to the
money must look to the Issuer for payment as general creditors unless an applicable abandoned
property law designates another Person, and all liability of the Trustee and the Paying Agent with
respect to such money shall cease.

Section 8.4.    Reinstatement.

If the Trustee or the Paying Agent is unable to apply any money or Government Obligations
deposited with respect to Securities of any Series in accordance with Section 8.1 by reason of any
legal proceeding or by reason of any order or judgment of any court or governmental authority
enjoining, restraining or otherwise prohibiting such application, the obligations of the Issuer and
the Parent Guarantor under this Indenture with respect to the Securities of such Series and under
the Securities of such Series shall be revived and reinstated as though no deposit had occurred
pursuant to Section 8.1 until such time as the Trustee or the Paying Agent is permitted to apply
all such money or Government Obligations in accordance with Section 8.1; provided, however, that if
the Issuer or the Parent Guarantor has made any payment of principal of, premium (if any) or
interest on any Securities because of the reinstatement of its obligations, the Issuer or the
Parent Guarantor, as the case may be, shall be subrogated to the rights of the Holders of such
Securities to receive such payment from the money or Government Obligations held by the Trustee or
the Paying Agent.

ARTICLE IX.

AMENDMENTS AND WAIVERS

Section 9.1.    Without Consent of Holders.

Without the consent of any Holder of Securities of a Series, the Issuer, the Parent Guarantor
and the Trustee may amend or supplement this Indenture or the Series of Securities in the following
circumstances:

            (1)     to cure any ambiguity, omission, defect or
inconsistency;

            (2)     to provide for the assumption of the Issuer or the Parent Guarantor’s
obligations under this Indenture by a successor upon any merger, consolidation or
transfer of substantially all of the assets of the Issuer or the Parent Guarantor,
as the case may be;

            (3)      to provide for uncertificated Securities in addition to or in place of
Certificated Securities;

            (4)      to provide any security for or guarantees, supplemental to the Parent
Guarantee, of its Securities or for the addition of an additional obligor on its
Securities;

            (5)      to comply with any requirement to effect or maintain the qualification of
this Indenture under the Trust Indenture Act of 1939, as amended, if applicable;

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            (6)      to add covenants that would benefit the Holders of its Securities or to
surrender any rights the Issuer or the Parent Guarantor has under this Indenture;

            (7)      to change or eliminate any of the provisions of this Indenture, provided
that any such change or elimination shall not become effective with respect to any
outstanding Securities of any Series created prior to the execution of such
supplemental indenture which is entitled to the benefit of such provision;

            (8)      to provide for the issuance of and establish forms and terms and conditions
of a new Series of Securities;

            (9)      to permit or facilitate the defeasance and discharge of the Securities;

            (10)      to issue additional Securities of any Series, provided that such
additional Securities have the same terms as, and be deemed part of the same Series
as, the applicable Series of Securities to the extent required under this Indenture;

            (11)      to evidence and provide for the acceptance of and appointment by a
successor trustee with respect to the Securities of one or more Series and to add to
or change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trust by more than one trustee;

            (12)      to add additional Events of Default with respect to Securities; and

            (13)      to make any change that does not adversely affect any of its outstanding
Securities in any material respect.

Section 9.2.     With Consent of Holders.

This Indenture or the Securities of a Series may be amended or supplemented, and waivers may
be obtained, with the consent of the Holders of at least a majority in aggregate principal amount
of the then outstanding Securities of such Series voting as a single class (including consents
obtained in connection with a tender offer or exchange offer for, or purchase of, such Securities
of a Series), and any existing Default or Event of Default (other than a Default or Event of
Default in the payment of the principal of, premium on, if any or interest, if any, on, such
Securities of a Series, except a payment Default resulting from an acceleration that has been
rescinded) or compliance with any provision of this Indenture or the Securities of such Series may
be waived with the consent of the Holders of a majority in aggregate principal amount of the then
outstanding Securities of such Series voting as a single class (including consents obtained in
connection with a purchase of, or tender offer or exchange offer for, such Securities of a Series).

The Holders of a majority in principal amount of the outstanding Securities of a Series issued
by the Issuer may waive any existing or past Default or Event of Default with respect to those
Securities. Those Holders may not, however, waive any Default or Event of Default in any payment
on any Security.

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For the avoidance of doubt, any amendment, supplement or waiver to any Series of Securities
made with the consent of Holders of such Series of Securities, shall be made with respect to that
Series of Securities only, and not any other Series of Securities.

Section 9.3.    Limitations.

Without the consent of each Holder of Securities of a Series affected thereby, an amendment,
supplement or waiver may not (with respect to any Securities of such Series held by a
non-consenting Holder):

            (1)      reduce the amount of the Securities of such Series whose Holders must
consent to an amendment, supplement or waiver;

            (2)      reduce the rate of or change the time for payment of interest on the
Securities of such Series;

            (3)     reduce the principal of the Securities of such Series or change the Stated
Maturity of the Securities of such Series;

            (4)      reduce any premium payable on the redemption of the Securities of such
Series or change the time at which the Securities of such Series may or must be
redeemed;

            (5)      make payments on the Security of such Series payable in currency other than
as originally stated in such Security;

            (6)      impair the Holder’s right to institute suit for the enforcement of any
payment on the Security of such Series;

            (7)      make any change in the percentage of principal amount of the Securities of
such Series necessary to waive compliance with Sections 6.8 and 6.13 of this
Indenture or to make any change in this Section 9.3(8); or

            (8)      waive a continuing Default or Event of Default regarding any payment on
Securities of such Series.

In the event that consent is obtained from some of the Holders but not from all of the Holders
with respect to any amendments or waivers pursuant to clauses (1) through (8) of this Section 9.3,
new Securities of such Series with such amendments or waivers will be issued to those consenting
Holders. Such new Securities shall have separate CUSIP numbers and ISINs from those Securities of
such Series held by non-consenting Holders.

Section 9.4.    Form of Amendments.

Every amendment to this Indenture or the Securities of one or more Series shall be set forth
in a supplemental indenture.

41

 

Section 9.5.    Revocation and Effect of Consents.

Until an amendment is set forth in a supplemental indenture or a waiver becomes effective, a
consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent
Holder of a Security or portion of a Security that evidences the same debt as the consenting
Holder’s Security, even if notation of the consent is not made on any Security. However, any such
Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if
the Trustee receives the written notice of revocation before the date of the supplemental indenture
or the date the waiver becomes effective.

Any amendment or waiver once effective shall bind every Securityholder of each Series affected
by such amendment or waiver unless it is of the type described in any of clauses (1) through (8) of
Section 9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has
consented to it and every subsequent Holder of a Security or portion of a Security that evidences
the same debt as the consenting Holder’s Security.

Section 9.6.    Notation on or Exchange of Securities.

The Trustee may place an appropriate notation about an amendment or waiver on any Security of
any Series thereafter authenticated. The Issuer, in exchange for its Securities of that Series,
may issue and the Trustee shall authenticate upon request new Securities of that Series that
reflect the amendment or waiver.

Section 9.7.    Trustee Protected.

In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article IX or the modifications thereby of the trusts created by this Indenture,
the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in
relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter
into any supplemental indentures which affect the Trustee’s own rights, duties, immunities, or
indemnities under this Indenture, the Securities or otherwise.

ARTICLE X.

MISCELLANEOUS

Section 10.1.    Notices.

Any request, direction, instruction, demand, document, notice or communication by the Issuer,
the Parent Guarantor or the Trustee to the other, or by a Holder to the Issuer, the Parent
Guarantor or the Trustee, shall be in English and in writing and delivered in person, mailed by
first-class mail, delivered via facsimile or delivered by overnight courier as follows:

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if to the Issuer:

Celanese US Holdings LLC

1601 West LBJ Freeway

Dallas, Texas 75234

Fax: (214) 258-9730

Attention: General Counsel

if to the Parent Guarantor:

Celanese Corporation

1601 West LBJ Freeway

Dallas, Texas 75234

Fax: (214) 258-9730

Attention: General Counsel

in either case, with a copy to:

Gibson, Dunn & Crutcher LLP

200 Park Avenue

New York, New York 10166

Fax: (212) 351-4035

Attention: Andrew L. Fabens

if to the Trustee:

Wells Fargo Bank, N.A.

201 Main Street, Suite 301

MAC: T T5441-030

Fort Worth, TX 76102

Fax: (817) 885-8650

Notices shall be effective upon the recipient’s actual receipt thereof. Any party by notice
to the other parties may designate additional or different addresses for subsequent notices or
communications.

Any notice or communication to (i) a Securityholder of a Certificated Security shall be mailed
by first-class mail to his address shown on the register kept by the Registrar (ii) a
Securityholder of a Global Security shall be delivered to the Depositary in accordance with its
applicable procedures. Failure to mail a notice or communication to a Securityholder of any Series
or any defect in it shall not affect its sufficiency with respect to other Securityholders of that
or any other Series.

If a notice or communication to any Securityholder is mailed or published in the manner
provided above, within the time prescribed, it is duly given, whether or not the Securityholder
receives it.

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If the Issuer mails a notice or communication to Securityholders, it shall mail a copy to the
Trustee and each Agent at the same time.

With respect to this Indenture, the Trustee shall not have any duty or obligation to verify or
confirm that the Person sending instructions, directions, reports, notices or other communications
or information by electronic transmission is, in fact, a Person authorized to give such
instructions, directions, reports, notices or other communications or information on behalf of the
party purporting to send such electronic transmission; and the Trustee shall not have any liability
for any losses, liabilities, costs or expenses incurred or sustained by any party as a result of
such reliance upon or compliance with such instructions, directions, reports, notices or other
communications or information. Each other party agrees to assume all risks arising out of the use
of electronic methods to submit instructions, directions, reports, notices or other communications
or information to the Trustee, including the risk of the Trustee acting on unauthorized
instructions, notices, reports or other communications or information, and the risk of interception
and misuse by third parties.

Section 10.2.    Communication by Holders with Other Holders.

Securityholders of a Series may communicate pursuant to TIA § 312(b), as if such section
applied hereto, with other Securityholders of such Series with respect to their rights under this
Indenture or the Securities.

Section 10.3.    Certificate and Opinion as to Conditions Precedent.

Upon any request or application by the Issuer or the Parent Guarantor to the Trustee to take
any action under this Indenture, the Issuer or the Parent Guarantor shall furnish to the Trustee:

	 	1.	 	an Officer’s Certificate stating that, in
the opinion of the signer, all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have
been complied with; and

	 
	 	2.	 	an Opinion of Counsel stating that, in
the opinion of such counsel, all such conditions precedent have been
complied with.

Section 10.4.    Statements Required in Certificate or Opinion.

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

	 	1.	 	a statement that the Person making such
certificate or opinion has read such covenant or condition;

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

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

	 
	 	4.	 	a statement as to whether or not, in the
opinion of such Person, such condition or covenant has been complied
with.

Section 10.5.    Rules by Trustee and Agents.

The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or
more Series. Any Agent may make reasonable rules and set reasonable requirements for its
functions.

Section 10.6.    Legal Holidays.

Unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental indenture
for a particular Series, a “Legal Holiday” is any day that is not a Business Day. If a payment
date is a Legal Holiday at a place of payment, payment may be made at that place on the next
succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening
period.

Section 10.7.    No Personal Liability of Directors, Officers, Employees and Certain
Others.

No director, officer, employee, incorporator or similar founder, stockholder or member of the
Issuer or the Parent Guarantor will have any liability for or any obligations of the Issuer or the
Parent Guarantor, as the case may be, under this Indenture, the Securities or the Parent Guarantees
or for any claim based on, with respect to or by reason of, such obligations or their creation.
Each Holder of Securities by accepting a Security waives and releases all such liability. The
waiver and release are part of the consideration for issuance of the Securities. The waiver may
not be effective to waive liabilities under the federal securities laws.

Section 10.8.    Counterparts.

This Indenture may be executed in any number of counterparts and by the parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement. Delivery of an executed
counterpart of this Indenture by facsimile or electronic transmission shall be equally as effective
as delivery of an original executed counterpart of this Indenture. Any party delivering an
executed counterpart of this Indenture by facsimile or electronic transmission also shall deliver
an original executed counterpart of this Indenture, but the failure to deliver an original executed
counterpart shall not affect the validity, enforceability and binding effect of this Indenture.

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Section 10.9.    Governing Laws.

THIS INDENTURE AND THE SECURITIES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR
RELATING TO THIS INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW
OTHER THAN THE LAW OF THE STATE OF NEW YORK.

Section 10.10. No Adverse Interpretation of Other Agreements.

This Indenture may not be used to interpret another indenture, loan or debt agreement of the
Issuer, the Parent Guarantor or any Subsidiary of the Issuer or the Parent Guarantor. Any such
indenture, loan or debt agreement may not be used to interpret this Indenture.

Section 10.11. Successors.

All agreements of the Issuer and the Parent Guarantor in this Indenture and the Securities
shall bind their respective successors. All agreements of the Trustee in this Indenture shall bind
its successor.

Section 10.12. Severability.

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 10.13. Table of Contents, Headings, Etc.

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

Section 10.14. Judgment Currency.

The Issuer and the Parent Guarantor agree, to the fullest extent that it may effectively do so
under applicable law, that (a) if for the purpose of obtaining judgment in any court it is
necessary to convert the sum due with respect to the principal of or interest or other amount on
the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be
rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in
accordance with normal banking procedures the recipient could purchase in The City of New York the
Required Currency with the Judgment Currency on the day on which final unappealable judgment is
entered, unless such day is not a New York Banking Day, then the rate of exchange used shall be the
rate at which in accordance with normal banking procedures the recipient could purchase in The City
of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding
the day on which final unappealable

46

 

judgment is entered and (b) its obligations under this Indenture to make payments in the
Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to
any judgment (whether or not entered in accordance with subsection (a)), in any currency other than
the Required Currency, except to the extent that such tender or recovery shall result in the actual
receipt, by the payee, of the full amount of the Required Currency expressed to be payable with
respect to such payments, (ii) shall be enforceable as an alternative or additional cause of action
for the purpose of recovering in the Required Currency the amount, if any, by which such actual
receipt shall fall short of the full amount of the Required Currency so expressed to be payable,
and (iii) shall not be affected by judgment being obtained for any other sum due under this
Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday,
Sunday or a Legal Holiday in The City of New York on which banking institutions are authorized or
required by law, regulation or executive order to close.

Section 10.15. English Language.

This Indenture has been negotiated and executed in the English language. All certificates,
reports, notices and other documents and communications delivered or delivered pursuant to this
Indenture (including any modifications or supplements hereto), shall be in the English language, or
accompanied by a certified English translation thereof. In the case of any document originally
issued in a language other than English, the English language version of any such document shall
for purposes of this Indenture, and absent manifest error, control the meaning of the matters set
out therein.

Section 10.16. Submission to Jurisdiction; Appointment of Agent.

Any suit, action or proceeding against the Issuer, the Parent Guarantor or any of their
respective properties, assets or revenues with respect to this Indenture, the Securities or the
Parent Guarantees (a “Related Proceeding”) may be brought in any state or Federal court in the
Borough of Manhattan in The City of New York, New York, as the Person bringing such Related
Proceeding may elect in its sole discretion. Each of the Issuer and the Parent Guarantor hereby
consents to the non-exclusive jurisdiction of each such court for the purpose of any Related
Proceeding and has irrevocably waived any objection to the laying of venue of any Related
Proceeding brought in any such court and to the fullest extent it may effectively do so and the
defense of an inconvenient forum to the maintenance of any Related Proceeding or any such suit,
action or proceeding in any such court. Each of the Issuer and the Parent Guarantor hereby agrees
that service of all writs, claims, process and summonses in any Related Proceeding brought against
it in the State of New York may be made upon CT Corporation System, 111 Eighth Avenue, New York,
New York 10011 (and any successor entity) (the “Process Agent”). Each of the Issuer and the Parent
Guarantor irrevocably appointed the Process Agent as its agent and true and lawful attorney in fact
in its name, place and stead to accept such service of any and all such writs, claims, process and
summonses, and hereby agrees that the failure of the Process Agent to give any notice to it of any
such service of process shall not impair or affect the validity of such service or of any judgment
based thereon. Each of the Issuer and the Parent Guarantor hereby agrees to have an office or to
maintain at all times an agent with offices in the United States of America to act as Process
Agent. Nothing in this Indenture shall in any way be deemed to limit the ability to serve any such
writs, process or summonses in any other manner permitted by applicable law.

47

 

Section 10.17. Waiver of Immunity.

To the extent that the Issuer or the Parent Guarantor, as the case may be, has or hereafter
may acquire any immunity from jurisdiction of any court or from any legal process (whether through
service of notice, attachment prior to judgment, attachment in aid of execution or execution, on
the ground of sovereignty or otherwise) with respect to itself or its property, each hereby
irrevocably waives, to the fullest extent permitted by applicable law, such immunity with respect
to its obligations under this Indenture, the Securities or the Parent Guarantees.

Section 10.18. Waiver of Jury Trial.

EACH OF THE ISSUER, THE PARENT GUARANTOR AND THE TRUSTEE HERETO HEREBY IRREVOCABLY WAIVE ALL
RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT
OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES, OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY.

ARTICLE XI.

GUARANTEES

Section 11.01 Parent Guarantee.

The Parent Guarantor hereby fully and unconditionally guarantees (i) to each Holder of each
Security that is authenticated and delivered by the Trustee, and (ii) to the Trustee on behalf of
such Holder, the due and punctual payment of the principal of, premium, if any, and interest on
such Security when and as the same shall become due and payable, whether at the stated maturity, by
acceleration, call for redemption or otherwise, in accordance with the terms of such Security and
of this Indenture. In case of the failure of the Issuer punctually to make any such payment, the
Parent Guarantor hereby agrees to cause such payment to be made punctually when and as the same
shall become due and payable, whether at the stated maturity or by acceleration, call for
redemption or otherwise, and as if such payment were made by the Issuer.

The Parent Guarantor hereby agrees that its obligations hereunder shall be absolute and
unconditional, irrespective of, and shall be unaffected by, the validity, regularity or
enforceability of such Security or this Indenture, the absence of any action to enforce the same or
any release, amendment, waiver or indulgence granted to the Issuer or the Parent Guarantor or any
consent to departure from any requirement of any other guarantee of all or any of the Securities or
any other circumstances which might otherwise constitute a legal or equitable discharge or defense
of a surety or guarantor. The Parent Guarantor hereby waives the benefits of diligence,
presentment, demand for payment, any requirement that the Trustee or any of the Holders protect,
secure, perfect or insure any security interest in or other lien on any property subject thereto or
exhaust any right or take any action against the Issuer or any other Person or any collateral,
filing of claims with a court in the event of insolvency or bankruptcy of the Issuer, any right to
require a proceeding first against the Issuer, protest or notice with respect to such Security or
the indebtedness evidenced thereby and all demands whatsoever, and covenants that this Parent
Guarantee will not be discharged in respect of such Security except by complete performance of the
obligations contained in such Security and in such Parent Guarantee. The

48

 

Parent Guarantor agrees that if, after the occurrence and during the continuance of an Event
of Default, the Trustee or any of the Holders of the applicable Series of Securities are prevented
by applicable law from exercising their respective rights to accelerate the maturity of such
Securities, to collect interest on such Securities, or to enforce or exercise any other right or
remedy with respect to such Securities, the Parent Guarantor agrees to pay to the Trustee for the
account of such Holders, upon demand therefor, the amount that would otherwise have been due and
payable had such rights and remedies been permitted to be exercised by the Trustee or any of such
Holders.

The Parent Guarantor shall be subrogated to all rights of the holders of the Securities
against the Issuer in respect of any amounts paid by the Parent Guarantor on account of such
Security pursuant to the provisions of its Parent Guarantee or this Indenture; provided, however,
that the Parent Guarantor shall not be entitled to enforce or to receive any payment arising out
of, or based upon, such right of subrogation until the principal of and interest on all Securities
of such Series issued hereunder shall have been paid in full.

The Parent Guarantee shall remain in full force and effect and continue to be effective should
any petition be filed by or against the Issuer for liquidation or reorganization, should the Issuer
become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee
be appointed for all or any part of the Issuer’s assets, and shall, to the fullest extent permitted
by law, continue to be effective or be reinstated, as the case may be, if at any time payment and
performance of such Securities, is, pursuant to applicable law, rescinded or reduced in amount, or
must otherwise be restored or returned by any holder of such Securities, whether as a “voidable
preference”, “fraudulent transfer”, or otherwise, all as though such payment or performance had not
been made. In the event that any payment, or any part thereof, is rescinded, reduced, restored or
returned, such Securities shall, to the fullest extent permitted by law, be reinstated and deemed
reduced only by such amount paid and not so rescinded, reduced, restored or returned.

Any term or provision of the Parent Guarantee to the contrary notwithstanding, the aggregate
amount of the obligations guaranteed hereunder shall be reduced to the extent necessary to prevent
such Parent Guarantee from violating or becoming voidable under applicable law relating to
fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors
generally.

Section 11.02 Execution and Delivery of Parent Guarantee.

The Parent Guarantee shall include the terms of the Parent Guarantee set forth in Section
11.01 and shall be substantially in the form established pursuant to Section 2.15. The Parent
Guarantor hereby agrees to execute its Parent Guarantee, in a form established pursuant to Section
2.15, on each Security authenticated and delivered by the Trustee.

The Parent Guarantee shall be executed on behalf of the Parent Guarantor by any one of its
chairman of its board of directors, president, vice presidents or other person duly authorized by
the Parent Guarantor’s board of directors. The signature of any or all of these persons on the
Parent Guarantee may be manual or facsimile.

49

 

A Parent Guarantee bearing the manual or facsimile signature of individuals who were at any
time the proper officers of the Parent Guarantor shall bind the Parent Guarantor, notwithstanding
that such individuals or any of them have ceased to hold such offices prior to the authentication
and delivery of any Security or did not hold such offices at the date of such Parent Guarantee.

The delivery of any Security by the Trustee, after the authentication thereof, shall
constitute due delivery of the Parent Guarantee on behalf of the Parent Guarantor and shall bind
the Parent Guarantor notwithstanding the fact that the Parent Guarantee does not bear the signature
of the Parent Guarantor. The Parent Guarantor agrees that its Parent Guarantee set forth in
Section 11.01 and in the form of Parent Guarantee established pursuant to Section 2.15 shall remain
in full force and effect notwithstanding any failure to execute a Parent Guarantee on any such
Security.

Section 11.03 Release of Parent Guarantee.

Notwithstanding anything in this Article XI to the contrary, concurrently with the payment in
full of the principal of, premium, if any, and interest on Securities of a Series, the Parent
Guarantor shall be released from and relieved of its obligations under this Article XI with respect
to the Securities of such Series. Upon the delivery by the Issuer to the Trustee of an Officer’s
Certificate and an Opinion of Counsel to the effect that the transaction giving rise to the release
of this Parent Guarantee was made by the Issuer in accordance with the provisions of this Indenture
and the Securities, the Trustee shall execute any documents reasonably required in order to
evidence the release of the Parent Guarantor from its obligations under this Parent Guarantee. If
any of the obligations to pay the principal of, premium, if any, and interest on such Securities
and all other obligations of the Issuer are revived and reinstated after the termination of this
Parent Guarantee, then all of the obligations of the Parent Guarantor under this Parent Guarantee
shall be revived and reinstated as if this Parent Guarantee had not been terminated until such time
as the principal of, premium, if any, and interest on such Securities are paid in full, and the
Parent Guarantor shall enter into an amendment to this Parent Guarantee, reasonably satisfactory to
the Trustee, evidencing such revival and reinstatement.

[Signature page follows.]

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

	 	 	 	 
	 
	 	CELANESE US HOLDINGS LLC

 
	 	By:  	 
	 	 	Name:  	 
	 	 	Title:  	 
	 
	 
	 	CELANESE CORPORATION

 
	 	By:  	 
	 	 	Name:  	 
	 	 	Title:  	 

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL
ASSOCIATION
	
	 
	 	By:  	 	
	 	 	Name:  	 	
	 	 	Title:

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