Document:

exv4w1

 

Exhibit 4.1

Execution Copy

 

WILLIAMS PARTNERS L.P.

WILLIAMS PARTNERS FINANCE CORPORATION

 

71/4% SENIOR NOTES DUE 2017

 

INDENTURE

Dated as of December 13, 2006

 

THE BANK OF NEW YORK

As Trustee

 

 

 

CROSS-REFERENCE TABLE*

	 	 	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	310(a)(1)
	 	 	7.10	 
	(a)(2)
	 	 	7.10	 
	(a)(3)
	 	 	N/A	 
	(a)(4)
	 	 	N/A	 
	(a)(5)
	 	 	7.10	 
	(b)
	 	 	7.10	 
	(c)
	 	 	N/A	 
	311(a)
	 	 	7.11	 
	(b)
	 	 	7.11	 
	(c)
	 	 	N/A	 
	312(a)
	 	 	2.05	 
	(b)
	 	 	11.03	 
	(c)
	 	 	11.03	 
	313(a)
	 	 	7.06	 
	(b)(1)
	 	 	7.06	 
	(b)(2)
	 	 	7.06, 7.07	 
	(c)
	 	 	7.06, 11.02	 
	(d)
	 	 	7.06	 
	314(a)
	 	 	4.03, 4.04, 11.02	 
	(b)
	 	 	N/A	 
	(c)(1)
	 	 	11.04	 
	(c)(2)
	 	 	11.04	 
	(c)(3)
	 	 	N/A	 
	(d)
	 	 	N/A	 
	(e)
	 	 	11.05	 
	(f)
	 	 	N/A	 
	315(a)
	 	 	7.01	 
	(b)
	 	 	7.05, 11.02	 
	(c)
	 	 	7.01	 
	(d)
	 	 	7.01	 
	(e)
	 	 	6.11	 
	316(a)(last sentence)
	 	 	2.08	 
	(a)(1)(A)
	 	 	6.05	 
	(a)(1)(B)
	 	 	6.04	 
	(a)(2)
	 	 	N/A	 
	(b)
	 	 	6.07	 
	(c)
	 	 	9.04	 
	317(a)(1)
	 	 	6.08	 
	(a)(2)
	 	 	6.09	 
	(b)
	 	 	2.04	 
	318(a)
	 	 	11.01	 
	(b)
	 	 	N/A	 
	(c)
	 	 	11.01	 

 

			
	N/A means not applicable.
	 
	*	 	This Cross-Reference Table is not part of the Indenture.

i

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE	 	 	1	 
	Section 1.01.
	 	Definitions	 	 	1	 
	Section 1.02.
	 	Other Definitions	 	 	11	 
	Section 1.03.
	 	Incorporation by Reference of Trust Indenture Act	 	 	11	 
	Section 1.04.
	 	Rules of Construction	 	 	11	 
	 
	 	 	 	 	 	 
	ARTICLE 2 THE NOTES	 	 	12	 
	Section 2.01.
	 	Form and Dating	 	 	12	 
	Section 2.02.
	 	Execution and Authentication	 	 	12	 
	Section 2.03.
	 	Registrar and Paying Agent	 	 	13	 
	Section 2.04.
	 	Paying Agent to Hold Money in Trust	 	 	13	 
	Section 2.05.
	 	Noteholder Lists; Record Dates	 	 	14	 
	Section 2.06.
	 	Transfer and Exchange	 	 	14	 
	Section 2.07.
	 	Replacement Notes	 	 	14	 
	Section 2.08.
	 	Outstanding Notes	 	 	15	 
	Section 2.09.
	 	Temporary Notes	 	 	15	 
	Section 2.10.
	 	Cancellation	 	 	15	 
	Section 2.11.
	 	Defaulted Interest	 	 	15	 
	Section 2.12.
	 	CUSIP and ISIN Numbers	 	 	16	 
	Section 2.13.
	 	Issuance of Additional Notes	 	 	16	 
	 
	 	 	 	 	 	 
	ARTICLE 3 REDEMPTION AND PREPAYMENT	 	 	16	 
	Section 3.01.
	 	Notices to Trustee	 	 	16	 
	Section 3.02.
	 	Selection of Notes to Be Redeemed	 	 	17	 
	Section 3.03.
	 	Notice of Redemption	 	 	17	 
	Section 3.04.
	 	Effect of Notice of Redemption	 	 	18	 
	Section 3.05.
	 	Deposit of Redemption Price	 	 	18	 
	Section 3.06.
	 	Notes Redeemed in Part	 	 	19	 
	Section 3.07.
	 	Optional Redemption	 	 	19	 
	Section 3.08.
	 	Mandatory Redemption	 	 	19	 
	 
	 	 	 	 	 	 
	ARTICLE 4 COVENANTS	 	 	19	 
	Section 4.01.
	 	Payment of Notes	 	 	19	 
	Section 4.02.
	 	Maintenance of Office or Agency	 	 	20	 
	Section 4.03.
	 	Reports	 	 	20	 
	Section 4.04.
	 	Compliance Certificate	 	 	21	 
	Section 4.05.
	 	[Intentionally Omitted]	 	 	21	 
	Section 4.06.
	 	[Intentionally Omitted]	 	 	21	 
	Section 4.07.
	 	Limitation on Liens	 	 	21	 
	Section 4.08.
	 	Potential Subsidiary Guarantees	 	 	22	 
	Section 4.09.
	 	[Intentionally Omitted]	 	 	22	 
	Section 4.10.
	 	Offer to Repurchase Upon Change of Control	 	 	22	 
	Section 4.11.
	 	Permitted Business Activities of Finance Corp	 	 	24	 
	Section 4.12.
	 	No Inducements	 	 	25	 

ii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	Section 4.13.
	 	Covenant Termination	 	 	25	 
	 
	 	 	 	 	 	 
	ARTICLE 5 SUCCESSORS	 	 	25	 
	Section 5.01.
	 	Merger, Consolidation, or Sale of Assets	 	 	25	 
	Section 5.02.
	 	Successor Substituted	 	 	26	 
	 
	 	 	 	 	 	 
	ARTICLE 6 DEFAULTS AND REMEDIES	 	 	26	 
	Section 6.01.
	 	Events of Default	 	 	26	 
	Section 6.02.
	 	Acceleration	 	 	28	 
	Section 6.03.
	 	Other Remedies	 	 	28	 
	Section 6.04.
	 	Waiver of Past Defaults	 	 	29	 
	Section 6.05.
	 	Control by Majority	 	 	29	 
	Section 6.06.
	 	Limitation on Suits	 	 	29	 
	Section 6.07.
	 	Rights of Holders of Notes to Receive Payment	 	 	30	 
	Section 6.08.
	 	Collection Suit by Trustee	 	 	30	 
	Section 6.09.
	 	Trustee May File Proofs of Claim	 	 	30	 
	Section 6.10.
	 	Priorities	 	 	31	 
	Section 6.11.
	 	Undertaking for Costs	 	 	31	 
	 
	 	 	 	 	 	 
	ARTICLE 7 TRUSTEE	 	 	31	 
	Section 7.01.
	 	Duties of Trustee	 	 	31	 
	Section 7.02.
	 	Rights of Trustee	 	 	32	 
	Section 7.03.
	 	Individual Rights of Trustee	 	 	33	 
	Section 7.04.
	 	Trustee’s Disclaimer	 	 	33	 
	Section 7.05.
	 	Notice of Defaults	 	 	34	 
	Section 7.06.
	 	Reports by Trustee to Holders of the Notes	 	 	34	 
	Section 7.07.
	 	Compensation and Indemnity	 	 	34	 
	Section 7.08.
	 	Replacement of Trustee	 	 	35	 
	Section 7.09.
	 	Successor Trustee by Merger, Etc	 	 	36	 
	Section 7.10.
	 	Eligibility; Disqualification	 	 	36	 
	Section 7.11.
	 	Preferential Collection of Claims Against Issuers	 	 	37	 
	 
	 	 	 	 	 	 
	ARTICLE 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE	 	 	37	 
	Section 8.01.
	 	Option to Effect Legal Defeasance or Covenant Defeasance	 	 	37	 
	Section 8.02.
	 	Legal Defeasance and Discharge	 	 	37	 
	Section 8.03.
	 	Covenant Defeasance	 	 	38	 
	Section 8.04.
	 	Conditions to Legal or Covenant Defeasance	 	 	38	 
	Section 8.05.
	 	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	 	 	40	 
	Section 8.06.
	 	Repayment to Issuers	 	 	40	 
	Section 8.07.
	 	Reinstatement	 	 	41	 
	Section 8.08.
	 	Discharge	 	 	41	 
	 
	 	 	 	 	 	 
	ARTICLE 9 AMENDMENT, SUPPLEMENT AND WAIVER	 	 	42	 
	Section 9.01.
	 	Without Consent of Holders of Notes	 	 	42	 
	Section 9.02.
	 	With Consent of Holders of Notes	 	 	43	 
	Section 9.03.
	 	Compliance with Trust Indenture Act	 	 	44	 
	Section 9.04.
	 	Revocation and Effect of Consents	 	 	44	 
	Section 9.05.
	 	Notation on or Exchange of Notes	 	 	45	 

iii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	Section   9.06.
	 	Trustee to Sign Amendments, Etc	 	 	45	 
	 
	 	 	 	 	 	 
	ARTICLE 10 GUARANTEES OF NOTES	 	 	45	 
	Section 10.01.
	 	Subsidiary Guarantees	 	 	45	 
	Section 10.02.
	 	Releases of Subsidiary Guarantees	 	 	47	 
	Section 10.03.
	 	Limitation on Guarantor Liability	 	 	47	 
	Section 10.04.
	 	Notation of Subsidiary Guarantee	 	 	47	 
	 
	 	 	 	 	 	 
	ARTICLE 11 MISCELLANEOUS	 	 	47	 
	Section 11.01.
	 	Trust Indenture Act Controls	 	 	47	 
	Section 11.02.
	 	Notices	 	 	48	 
	Section 11.03.
	 	Communication by Holders of Notes with Other Holders of Notes	 	 	49	 
	Section 11.04.
	 	Certificate and Opinion as to Conditions Precedent	 	 	49	 
	Section 11.05.
	 	Statements Required in Certificate or Opinion	 	 	49	 
	Section 11.06.
	 	Rules by Trustee and Agents	 	 	50	 
	Section 11.07.
	 	No Personal Liability	 	 	50	 
	Section 11.08.
	 	Governing Law	 	 	50	 
	Section 11.09.
	 	No Adverse Interpretation of Other Agreements	 	 	50	 
	Section 11.10.
	 	Successors	 	 	50	 
	Section 11.11.
	 	Severability	 	 	50	 
	Section 11.12.
	 	Table of Contents, Headings, Etc	 	 	50	 
	Section 11.13.
	 	Joint and Several Liability	 	 	51	 
	Section 11.14.
	 	Counterparts	 	 	51	 

iv

 

APPENDIX AND ANNEXES

	 	 	 	 	 	 	 
	RULE 144A/REGULATION S APPENDIX
	 	App. – 1
	 
	 	 	 	 	 	 
	 
	 	EXHIBIT 1  Form of Initial Note	 	 	 	 
	 
	 	EXHIBIT A Form of Exchange Note	 	 	 	 
	 
	 	 	 	 	 	 
	ANNEX A
	 	Form of Supplemental Indenture 	 	 	A  –  1
	 
	 	 	 	 	 	 
	ANNEX B
	 	Form of Registration Rights Agreement 	 	 	B  –  1

v

 

     This Indenture, dated as of December 13, 2006, is among Williams Partners L.P., a Delaware
limited partnership (the “Company”), Williams Partners Finance Corporation, a Delaware corporation
(“Finance Corp.” and, together with the Company, the “Issuers”), and The Bank of New York, a New
York banking corporation, as trustee (the “Trustee”).

     The Issuers and the Trustee agree as follows for the benefit of each other and for the equal
and ratable benefit of the Holders of the Issuers’ Initial Notes, Exchange Notes and Additional
Notes:

ARTICLE 1

DEFINITIONS AND INCORPORATION

BY REFERENCE

          Section 1.01. Definitions.

     “Additional Interest” means all Additional Interest then owing pursuant to Section 5 of the
Registration Rights Agreement referred to in clause (1) of the definition of “Registration Rights
Agreement” in the Appendix. Unless the context indicates otherwise, all references to “interest”
in this Indenture or the Notes shall be deemed to include any Additional Interest.

     “Additional Notes” means 71/4% Senior Notes due 2017 of the Issuers issued from time to time
after the Initial Issuance Date under the terms of this Indenture (other than pursuant to Section
2.06, 2.07, 2.09, 3.06 or 4.10 of this Indenture and other than Exchange Notes issued pursuant to
an exchange offer for other Notes outstanding under this Indenture).

     “Agent” means any Registrar or Paying Agent.

     “Agent Members” has the meaning provided in the Appendix.

     “Applicable Law,” except as the context may otherwise require, means all applicable laws,
rules, regulations, ordinances, judgments, decrees, injunctions, writs and orders of any court or
governmental or congressional agency or authority and rules, regulations, orders, licenses and
permits of any United States federal, state, municipal, regional, or other governmental body,
instrumentality, agency or authority.

     “Applicable Procedures” means, with respect to any transfer or exchange of beneficial
interests in a Global Note, the rules and procedures of the Depository that apply to such transfer
and exchange.

     “Bankruptcy Law” means Title 11, United States Code, as may be amended from time to time, or
any similar federal or state law for the relief of debtors.

     “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under
the Exchange Act, except that in calculating the beneficial ownership of any particular “person”
(as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to
have beneficial ownership of all securities that such “person” has the right to acquire by
conversion or exercise of other securities, whether such right is currently exercisable or is

 

 

exercisable only upon the occurrence of a subsequent condition. The terms “Beneficially Owns”
and “Beneficially Owned” have correlative meanings.

     “Board of Directors” means:

     (1) with respect to Finance Corp., the board of directors of Finance Corp.;

     (2) with respect to the Company, the Board of Directors of the General Partner or any
authorized committee thereof; and

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

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

     “Business Day” means each day that is not a Saturday, Sunday or other day on which banking
institutions in Houston, Texas or in New York, New York or another place of payment are authorized
or required by law or regulation 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 or
membership interests (whether general or limited); 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.

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

     (1) the direct or indirect sale, lease, transfer, conveyance or other disposition
(other than by way of merger or consolidation), in one or a series of related transactions,
of all or substantially all of the properties or assets of the General Partner to any
“person” (as that term is used in Section 13(d)(3) of the Exchange Act), other than Williams
or one of its other Subsidiaries;

     (2) the adoption of a plan relating to the liquidation or dissolution of the Company or
the General Partner;

2

 

     (3) any Person other than Williams or any of its Subsidiaries becomes the Beneficial
Owner, directly or indirectly, of 50% or more of the Voting Stock of the General Partner; or

     (4) the first day on which a majority of the members of the Board of Directors of the
General Partner are not Continuing Directors.

     “Clearstream” means Clearstream Banking, société anonyme, or any successor securities clearing
agency.

     “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any
successor statute.

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

     “Consolidated Net Tangible Assets” means at any date of determination, the total amount of
assets of the Company and its Subsidiaries after deducting therefrom:

     (1) all current liabilities (excluding (A) any current liabilities that by their terms
are extendable or renewable at the option of the obligor thereon to a time more than 12
months after the time as of which the amount thereof is being computed, and (B) current
maturities of long-term debt); and

     (2) the value (net of any applicable reserves) of all goodwill, trade names,
trademarks, patents and other like intangible assets,

all as set forth, or on a pro forma basis would be set forth, on the consolidated balance sheet of
the Company and its Subsidiaries for the Company’s most recently completed fiscal quarter, prepared
in accordance with GAAP.

     “Continuing Directors” means, as of any date of determination, any member of the Board of
Directors of the General Partner who:

     (1) was a member of such Board of Directors on the date of this Indenture; or

     (2) was nominated for election or elected to such Board of Directors with the approval
of a majority of the Continuing Directors who were members of such Board at the time of such
nomination or election.

     “Corporate Trust Office of the Trustee” means the office of the Trustee at which at any time
its corporate trust business shall be administered, which office at the date hereof is located at
101 Barclay Street, Floor 21 West, New York, New York 10286, Attention: Global Corporate Trust, or
such other address as the Trustee may designate from time to time by notice to the Holders and the
Issuers, or the principal corporate trust office of any successor Trustee (or such other address as
a successor Trustee may designate from time to time by notice to the Holders and the Issuers).

3

 

     “Credit Agreements” means that certain (1) Amended and Restated Working Capital Loan Agreement
dated as of August 7, 2006 between Williams and the Company providing for a $20.0 million revolving
credit facility in favor of the Company, and (2) Credit Agreement dated as of May 1, 2006 among
Williams, the Company, Northwest Pipeline Corporation and Transcontinental Gas Pipe Line
Corporation, as Borrowers, Citibank, N.A., as Administrative Agent, and the other lenders party
thereto, providing for, among other things, a $75.0 million revolving credit facility in favor of
the Company, including in each case any related notes, guarantees, instruments and agreements
executed in connection therewith, and in each case as amended, restated, modified, renewed,
refunded, replaced or refinanced from time to time.

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

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

     “Depository” has the meaning provided in the Appendix.

     “Discovery” means Discovery Producer Services LLC, a Delaware limited liability company, and
its successors and assigns.

     “Domestic Subsidiary” means any Subsidiary of the Company formed under the laws of the United
States or any state of the United States or the District of Columbia.

     “Euroclear” means Euroclear Bank S.A./N.V. or any successor securities clearing agency.

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

     “Exchange Notes” has the meaning specified in the Appendix.

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

     “Fitch” means Fitch, Inc. or any successor to the rating agency business thereof.

     “GAAP” means generally accepted accounting principles in the United States, which are in
effect from time to time.

     “General Partner” means Williams Partners GP LLC, a Delaware limited liability company
(including any permitted successors and assigns under the Limited Partnership Agreement).

     “Global Note” has the meaning provided in the Appendix.

4

 

     “Government Securities” means direct obligations of, or obligations guaranteed by, the United
States of America for the payment of which guarantee or obligations the full faith and credit of
the United States is pledged.

     The term “guarantee” means a guarantee other than by endorsement of negotiable instruments for
collection in the ordinary course of business, direct or indirect, in any manner including, without
limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements
in respect thereof, of all or any part of any Indebtedness. When used as a verb, “guarantee” has a
correlative meaning.

     “Guarantors” means each of (a) the Subsidiaries of the Company that executes a supplement to
this Indenture in accordance with Section 4.08 hereof and (b) the respective successors of such
Subsidiaries, as required under Section 5.02 hereof, in each case until such time as any such
Subsidiary shall be released and relieved of its obligations pursuant to Section 10.02 hereof.

     “Holder” or “Noteholder” means a Person in whose name a Note is registered.

     “Indebtedness” means, with respect to any specified Person, any obligation created or assumed
by such Person, whether or not contingent, for the repayment of money borrowed from others or any
guarantee thereof.

     “Indenture” means this Indenture, as amended or supplemented from time to time.

     “Initial Issuance Date” means December 13, 2006.

     “Initial Notes” has the meaning provided in the Appendix.

     “Initial Purchasers” has the meaning provided in the Appendix.

     “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s, BBB- (or the equivalent) by S&P or BBB- (or the equivalent) by Fitch.

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

     “Joint Venture” means any Person that is not a direct or indirect Subsidiary of the Company in
which the Company or any of its Subsidiaries owns any Capital Stock.

     “Legal Holiday” means any calendar day other than a Business Day. If a payment date is a
Legal Holiday, payment may be made on the next succeeding day that is not a Legal Holiday, and no
interest shall accrue for the intervening period.

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, security interest or
encumbrance in respect of such asset.

5

 

     “Limited Partnership Agreement” means the Amended and Restated Agreement of Limited
Partnership of the Company dated as of August 23, 2005, among the General Partner and Williams
Energy Services, LLC, Williams Energy, L.L.C., Williams Discovery Pipeline LLC and Williams
Partners Holdings LLC, as amended, supplemented or restated from time to time.

     “Make Whole Premium” means at any time, with respect to a Note to be redeemed, the excess, if
any, of (a) the present value at such time of (i) the remaining scheduled payment of the then
outstanding principal amount of such Note plus (ii) any required interest payments due on such Note
through February 1, 2017 (except for currently accrued and unpaid interest), computed using a
discount rate equal to the Treasury Rate plus 75 basis points, discounted to the redemption date on
a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), over (b) the
principal amount of such Note.

     “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business
thereof.

     “Notes” has the meaning specified in the Appendix.

     “Notes Custodian” has the meaning specified in the Appendix.

     “Obligations” means any principal, premium, if any, interest (including interest accruing on
or after the filing of any petition in bankruptcy or for reorganization, whether or not a claim for
post-filing interest is allowed in such proceeding), penalties, fees, charges, expenses,
indemnifications, reimbursement obligations, damages, guarantees, and other liabilities or amounts
payable under the documentation governing any Indebtedness or in respect thereto.

     “Offering Memorandum” means the offering memorandum of the Issuers dated December 6, 2006
relating to the offering of the Initial Notes.

     “Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer,
any Assistant Treasurer, the Controller, the Secretary, any Assistant Secretary or any Vice
President of such Person (or, with respect to the Company, for so long as it remains a limited
partnership, of its General Partner).

     “Officers’ Certificate” means a certificate signed on behalf of each of the Company and
Finance Corp. by two of its Officers, one of whom, for purposes of Section 4.04, must be the
principal executive officer, the principal financial officer or the principal accounting officer of
the Company or Finance Corp., as the case may be, that meets the requirements of Section 11.05
hereof, if applicable.

     “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the
Trustee, that meets the requirements of Section 11.05 hereof, if applicable. The counsel may be an
employee of or counsel to the Company, any affiliate of the Company or the Trustee.

6

 

     “Permitted Liens” means:

     (a) any Lien existing on any property at the time of the acquisition thereof and not created
in contemplation of such acquisition by the Company or any of its Subsidiaries, whether or not
assumed by the Company or any of its Subsidiaries;

     (b) any Lien existing on any property of a Subsidiary of the Company at the time it becomes a
Subsidiary of the Company and not created in contemplation thereof and any Lien existing on any
property of any Person at the time such Person is merged or liquidated into or consolidated with
the Company or any Subsidiary thereof and not created in contemplation thereof;

     (c) purchase money and analogous Liens incurred in connection with the acquisition,
development, construction, improvement, repair or replacement of property (including such Liens
securing Indebtedness incurred within 12 months of the date on which such property was acquired,
developed, constructed, improved, repaired or replaced) provided that all such Liens attach only to
the property acquired, developed, constructed, improved, repaired or replaced and the principal
amount of the Indebtedness secured by such Lien shall not exceed the gross cost of the property;

     (d) any Liens created or assumed to secure Indebtedness of the Company or any Subsidiary of
the Company maturing within 12 months of the date of creation thereof and not renewable or
extendible by the terms thereof at the option of the obligor beyond such 12 months;

     (e) Liens on accounts receivable and related asset proceeds thereof arising in connection with
a receivables financing and any Lien held by the purchaser of receivables derived from property or
assets sold by the Company or any Subsidiary and securing such receivables resulting from the
exercise of any rights arising out of defaults on such receivables;

     (f) leases constituting Liens now or hereafter existing and any renewals or extensions
thereof;

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

     (h) Liens existing on the date hereof;

     (i) Liens in favor of the Company or any of its Subsidiaries;

     (j) Liens securing Indebtedness incurred to refund, extend refinance or otherwise replace
Indebtedness (“Refinanced Indebtedness”) secured by a Lien permitted to be incurred under this
Indenture; provided, that the principal amount of such Refinanced Indebtedness does not exceed the
principal amount of Indebtedness refinanced (plus the amount of penalties, premiums, fees, accrued
interest and reasonable expenses and other obligations incurred therewith) at the time of
refinancing;

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     (k) Liens on and pledges of the Capital Stock of any Joint Venture owned by the Company or any
Subsidiary to the extent securing Indebtedness of such Joint Venture that is non-recourse to the
Company or any Subsidiary;

     (l) any Lien created or assumed by the Company or any of its Subsidiaries on oil, gas, coal or
other mineral or timber property, owned or leased by the Company or any of its Subsidiaries;

     (m) Liens on the products and proceeds (including insurance, condemnation and eminent domain
proceeds) of and accessions to, and contract or other rights (including rights under insurance
policies and product warranties) derivative of or relating to, property permitted to be subject to
Liens but subject to the same restrictions and limitations set forth in this Indenture as to Liens
on such property (including the requirement that such Liens on products, proceeds, accessions and
rights secure only obligations that such property is permitted to secure);

     (n) any Liens securing Indebtedness neither assumed nor guaranteed by the Company or a
Subsidiary of the Company nor on which it customarily pays interest, existing upon real estate or
rights in or relating to real estate (including rights-of-way and easements) acquired by the
Company or such Subsidiary, which Liens do not materially impair the use of such property for the
purposes for which it is held by the Company or such Subsidiary;

     (o) any Lien existing or hereafter created on any office equipment, data processing equipment
(including computer and computer peripheral equipment) or transportation equipment (including motor
vehicles, aircraft and marine vessels);

     (p) undetermined Liens incidental to construction or maintenance; and

     (q) any Lien created by the Company or a Subsidiary of the Company on any contract (or any
rights thereunder or proceeds therefrom) providing for advances by the Company or such Subsidiary
to finance gas exploration and development, which Lien is created to secure Indebtedness incurred
to finance such advance.

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

     “Purchase Agreement” has the meaning provided in the Appendix.

     “QIB” means a “qualified institutional buyer” as defined in Rule 144A under the Securities
Act.

     “Qualifying Domestic Subsidiary” means (a) any Domestic Subsidiary that is a Wholly Owned
Subsidiary of the Company or (b) any other Domestic Subsidiary, provided that, if the
organizational documents or an agreement among owners of Capital Stock of such other Domestic
Subsidiary do not expressly permit, or if they prohibit, the Domestic Subsidiary from guaranteeing
the Notes in accordance with this Indenture, such Domestic Subsidiary shall not be a Qualifying
Domestic Subsidiary for purposes of this Indenture. In addition and

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notwithstanding the foregoing, Discovery shall not be a Qualifying Domestic Subsidiary for so
long as a Person other than the Company, or any Subsidiary thereof, directly or indirectly owns any
Capital Stock thereof.

     “Registered Exchange Offer” has the meaning provided in the Appendix.

     “Registration Rights Agreement” has the meaning provided in the Appendix.

     “Regulation S” has the meaning provided in the Appendix.

     “Responsible Officer,” when used with respect to the Trustee, means any officer within the
corporate trust department of the Trustee having direct responsibility for the administration of
this Indenture.

     “Restricted Global Note” has the meaning provided in the Appendix.

     “Rule 144A” has the meaning provided in the Appendix.

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.,
or any successor to the rating agency business thereof.

     “SEC” means the Securities and Exchange Commission.

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

     “Senior Debt” means:

     (1) all Indebtedness of the Company or any Subsidiary outstanding under any Credit
Agreement;

     (2) any other Indebtedness of the Company or any Subsidiary, unless the instrument
under which such Indebtedness is incurred expressly provides that it is subordinated in
right of payment to the Notes or any Subsidiary Guarantee; and

     (3) all Obligations with respect to the items listed in the preceding clauses (1) and
(2).

     “Shelf Registration Statement” has the meaning provided in the Appendix.

     “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as
defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as
such Regulation is in effect on the date of this Indenture.

     “Stated Maturity” means, with respect to any installment of interest or principal on any
Indebtedness, the date on which the payment of interest or principal was scheduled to be paid in
the original documentation governing such Indebtedness, and will not include any contingent
obligations to repay, redeem or repurchase any such interest or principal prior to the date
originally scheduled for the payment thereof.

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

     (1) any corporation, association or other business entity (other than a partnership or
limited liability company) of which more than 50% of the total voting power of Voting Stock
is at the time owned or controlled, directly or indirectly, by that Person or one or more of
the other Subsidiaries of that Person (or a combination thereof); and

     (2) any partnership (whether general or limited) or limited liability company (a) the
sole general partner or member of which is such Person or a Subsidiary of such Person, or
(b) if there is more than a single general partner or member, either (x) the only managing
general partners or managing members of which are such Person or one or more Subsidiaries of
such Person (or any combination thereof) or (y) such Person owns or controls, directly or
indirectly, a majority of the outstanding general partner interests, member interests or
other Voting Stock of such partnership or limited liability company, respectively.

Unless otherwise indicated, all references herein to a “Subsidiary” are to a Subsidiary of the
Company.

     “Subsidiary Guarantees” means the joint and several guarantees issued by all of the Guarantors
pursuant to Article 10 hereof.

     “TIA” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) and the rules and
regulations thereunder, as in effect on the date on which this Indenture is qualified under the TIA
(except as provided in Section 9.01(i) and 9.03 hereof).

     “Transfer Restricted Securities” has the meaning provided in the Appendix.

     “Treasury Rate” means the yield to maturity at the time of computation of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal
Reserve Statistical Release H.15(519) which has become publicly available at least two Business
Days prior to the date fixed for redemption of the Notes (or, if such Statistical Release is no
longer published, any publicly available source of similar market data)) most nearly equal to the
period from the redemption date to February 1, 2017; provided, however, that if such period is not
equal to the constant maturity of a United States Treasury security for which a weekly average
yield is given, the Company shall obtain the Treasury Rate by linear interpolation (calculated to
the nearest one-twelfth of a year) from the weekly average yields of United States Treasury
securities for which such yields are given, except that if the period from the redemption date to
February 1, 2017 is less than one year, the weekly average yield on actually traded United States
Treasury securities adjusted to a constant maturity of one year shall be used. The Company will
(a) calculate the Make Whole Premium and the Treasury Rate on the second Business Day preceding the
applicable redemption date and (b) prior to such redemption date file with the Trustee an Officers’
Certificate setting forth the Make Whole Premium and the Treasury Rate and showing the calculation
of each in reasonable detail. The Trustee shall have no responsibility for determining the Make
Whole Premium or the Treasury Rate.

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     “Trustee” means the party named as such above until a successor replaces it in accordance with
the applicable provisions of this Indenture and thereafter means the successor serving hereunder.

     “Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at
the time entitled (without regard to the occurrence of any contingency) to vote in the election of
the Board of Directors of such Person.

     “Wholly Owned Subsidiary” means a Subsidiary of a Person, to the extent all of the outstanding
Capital Stock (other than directors’ qualifying shares) of such Subsidiary are owned by such
Person.

     “Williams” means The Williams Companies, Inc., a Delaware corporation.

          Section 1.02. Other Definitions.

	 	 	 	 	 
	Term	 	Defined in Section
	“Appendix”

	 	 	2.01	 
	“Change of Control Offer”

	 	 	4.10	 
	“Change of Control Payment”

	 	 	4.10	 
	“Change of Control Purchase Date”

	 	 	4.10	 
	“Change of Control Settlement Date”

	 	 	4.10	 
	“Covenant Defeasance”

	 	 	8.03	 
	“Discharge”

	 	 	8.08	 
	“Event of Default”

	 	 	6.01	 
	“Legal Defeasance”

	 	 	8.02	 
	“Paying Agent”

	 	 	2.03	 
	“Registrar”

	 	 	2.03	 

     Section 1.03. Incorporation by Reference of Trust Indenture Act.

     Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture. Any terms incorporated in this Indenture that are
defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under the
TIA have the meanings so assigned to them.

     Section 1.04. Rules of Construction.

     Unless the context otherwise requires:

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

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

     (3) “or” is not exclusive;

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

     (5) provisions apply to successive events and transactions;

     (6) references to sections of or rules under the Securities Act or the Exchange Act
shall be deemed to include substitute, replacement or successor sections or rules adopted by
the SEC from time to time; and

     (7) “herein,” “hereof” and other words of similar import refer to this Indenture as a
whole (as amended or supplemented from time to time) and not to any particular Article,
Section or other subdivision.

ARTICLE 2

THE NOTES

     Section 2.01. Form and Dating.

     Provisions relating to the Initial Notes and the Exchange Notes are set forth in the Rule
144A/Regulation S Appendix attached hereto (the “Appendix”) which is hereby incorporated in and
expressly made part of this Indenture. The Initial Notes and the Trustee’s certificate of
authentication therefor shall be substantially in the form of Exhibit 1 to the Appendix which is
hereby incorporated in and expressly made a part of this Indenture. The Exchange Notes and the
Trustee’s certificate of authentication therefor shall be substantially in the form of Exhibit A to
the Appendix, which is hereby incorporated in and expressly made a part of this Indenture. The
Notes may have notations, legends or endorsements required by law, stock exchange rule, agreements
to which an Issuer is subject, if any, or usage (provided that any such notation, legend or
endorsement is in a form acceptable to the Company). Each Note shall be dated the date of its
authentication. The terms of the Notes set forth in the Appendix are part of the terms of this
Indenture.

     Section 2.02. Execution and Authentication.

     An Officer shall sign the Notes on behalf of each Issuer by manual or facsimile signature.

     If an Officer whose signature is on a Note no longer holds that office at the time the Trustee
authenticates the Note, the Note shall be valid nevertheless.

     A Note shall not be valid until an authorized signatory of the Trustee manually signs the
certificate of authentication on the Note. The signature shall be conclusive evidence that the
Note has been authenticated under this Indenture.

     On the Initial Issuance Date, the Trustee shall authenticate and deliver $600.0 million
aggregate principal amount of 71/4% Senior Notes due 2017 and, at any time and from time to time
thereafter, the Trustee shall authenticate and deliver Notes for original issue, in each case upon
a written order of the Issuers signed on behalf of each Issuer by an Officer thereof. Such order
shall specify the aggregate principal amount of the Notes to be authenticated, the date on

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which the original issue of Notes is to be authenticated and to whom the Notes shall be
registered and delivered.

     The Trustee may appoint an authenticating agent reasonably acceptable to the Issuers to
authenticate the Notes. Unless limited by the terms of such appointment, an authenticating agent
may authenticate Notes 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 any Registrar, Paying Agent or agent for service of notices and demands.

     Section 2.03. Registrar and Paying Agent.

     The Issuers shall maintain an office or agency where Notes may be presented for registration
of transfer or for exchange (the “Registrar”) and an office or agency in New York, New York where
Notes may be presented for payment (the “Paying Agent”). The Registrar shall keep a register of
the Notes and of their transfer and exchange. The Issuers may have one or more co-registrars and
one or more additional paying agents. The term “Registrar” includes any co-registrar, and the term
“Paying Agent” includes any additional paying agent.

     The Issuers shall enter into an appropriate agency agreement with any Registrar or Paying
Agent not a party to this Indenture, which shall incorporate the terms of the TIA. The agreement
shall implement the provisions of this Indenture that relate to such agent. The Issuers shall
notify the Trustee of the name and address of any such agent. If the Issuers fail to maintain a
Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate
compensation therefor pursuant to Section 7.07. The Company or any Subsidiary may act as Paying
Agent or Registrar.

     The Issuers initially appoint the Trustee as Registrar and Paying Agent in connection with the
Notes at the Corporate Trust Office of the Trustee.

     The immunities, protections and exculpations available to the Trustee under this Indenture
shall also be available to the Paying Agent and the Registrar.

     Section 2.04. Paying Agent to Hold Money in Trust.

     Prior to 11:00 a.m. New York City time, on each due date of the principal and interest on any
Note, an Issuer shall deposit with the Paying Agent a sum sufficient to pay such principal and
interest when so becoming due. The Issuers shall require each Paying Agent (other than the
Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of
Noteholders or the Trustee all money held by the Paying Agent for the payment of principal of or
interest on the Notes, shall notify the Trustee of any default by the Issuers in making any such
payment and shall during the continuance of any default by an Issuer (or any other obligor upon the
Notes) in the making of any payment in respect of the Notes, upon the written request of the
Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in
respect of the Notes. If the Company or a Subsidiary acts as Paying Agent, it shall segregate the
money held by it as Paying Agent and hold it as a separate trust fund. The Issuers at any time may
require a Paying Agent to pay all money held by it to the Trustee and to account for any funds
disbursed by the Paying Agent. Upon complying with this Section, the Paying Agent shall have no
further liability for the money delivered to the Trustee.

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     Section 2.05. Noteholder Lists; Record Dates.

     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 Noteholders. If the Trustee is not the
Registrar, the Issuers shall furnish to the Trustee, in writing at least five Business 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
Noteholders.

     All references herein and in the Notes to “record dates” shall be understood to mean records
of the Holders taken as of the close of business on the respective dates thereof.

     Section 2.06. Transfer and Exchange.

     The Notes shall be issued in registered form and shall be transferable only upon the surrender
of a Note for registration of transfer. When a Note is presented to the Registrar with a request
to register a transfer, the Registrar shall register the transfer as requested if the requirements
of this Indenture and any other reasonable requirements of the Registrar are met. When Notes are
presented to the Registrar with a request to exchange them for an equal principal amount of Notes
of other denominations, the Registrar shall make the exchange as requested if the same requirements
are met. The Issuers may require payment of a sum sufficient to cover any taxes, assessments or
other governmental charges in connection with any transfer or exchange pursuant to this Section
(other than any such transfer taxes, assessments or similar governmental charge payable upon an
exchange pursuant to Section 3.06, 4.10 or 9.05).

     Section 2.07. Replacement Notes.

     If a mutilated Note is surrendered to the Registrar or if the Holder of a Note claims that the
Note has been lost, destroyed or wrongfully taken, the Issuers shall issue and the Trustee shall
authenticate a replacement Note if the Holder satisfies the reasonable requirements of the Trustee.
If required by the Trustee or the Issuers, such Holder shall furnish an indemnity bond sufficient
in the judgment of the Issuers and the Trustee to protect the Issuers, the Trustee, the Paying
Agent and the Registrar from any loss which any of them may suffer if a Note is replaced. The
Issuers and the Trustee may charge the Holder for their expenses in replacing a Note. In the event
any such Note shall have matured, instead of issuing a new Note, the Trustee may pay the same
without surrender thereof upon the Holder furnishing the Issuers and the Trustee with indemnity
satisfactory to them and complying with such other reasonable regulations as the Trustee may
prescribe and paying such reasonable expenses as the Issuer and the Trustee may incur in connection
therewith.

     Every replacement Note is an additional obligation of the Issuers.

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

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     Section 2.08. Outstanding Notes.

     Notes outstanding at any time are all Notes authenticated by the Trustee except for those
canceled by it, those delivered to it for cancellation and those described in this Section as not
outstanding. Except as otherwise provided in TIA §316(a), a Note does not cease to be outstanding
because the Company or an Affiliate of the Company holds the Note.

     If a Note is replaced pursuant to Section 2.07, it ceases to be outstanding unless the
Trustee, any provider of an indemnity bond and the Issuers receive proof satisfactory to them that
the replaced Note is held by a bona fide purchaser.

     If the Paying Agent segregates and holds in trust, in accordance with this Indenture, by 11:00
a.m. New York time, on a redemption date or other maturity date money sufficient to pay all
principal, premium, if any, interest and Additional Interest, if any, payable on that date with
respect to the Notes (or portions thereof) to be redeemed or maturing, as the case may be, then on
and after that date such Notes (or portions thereof) cease to be outstanding and interest and
Additional Interest, if any, on them cease to accrue.

     Section 2.09. Temporary Notes.

     Until definitive Notes are ready for delivery, the Issuers may prepare and the Trustee shall
authenticate temporary Notes. Temporary Notes shall be substantially in the form of definitive
Notes but may have variations that the Issuers consider appropriate for temporary Notes. Without
unreasonable delay, the Issuers shall prepare and the Trustee shall authenticate definitive Notes
and deliver them in exchange for temporary Notes.

     Section 2.10. Cancellation.

     An Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and
the Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee and no one else shall cancel (subject to the record
retention requirements of the Exchange Act) all Notes surrendered for registration of transfer,
exchange, payment or cancellation. Upon written request, the Trustee will deliver a certificate of
such cancellation to the Issuers unless the Issuers direct the Trustee to deliver canceled Notes to
the Issuers instead. The Issuers may not issue new Notes to replace Notes they have redeemed, paid
or delivered to the Trustee for cancellation.

     Section 2.11. Defaulted Interest.

     If the Issuers default in a payment of interest on the Notes, the Issuers shall pay defaulted
interest (plus interest on such defaulted interest at the rate provided in the Notes and in Section
4.01 hereof to the extent lawful) in any lawful manner. The Issuers may pay the defaulted interest
to the Persons who are Noteholders on a subsequent special record date. The Issuers shall fix or
cause to be fixed any such special record date and payment date to the reasonable satisfaction of
the Trustee and shall promptly mail to each Noteholder a notice that states the special record
date, the payment date and the amount of defaulted interest to be paid.

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     Section 2.12. CUSIP and ISIN Numbers.

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

     Section 2.13. Issuance of Additional Notes.

     The Issuers shall be entitled to issue Additional Notes under this Indenture which shall have
identical terms as the Initial Notes issued on the Initial Issuance Date, other than with respect
to the date of issuance, issue price and initial interest accrual and payment dates. The Initial
Notes issued on the Initial Issuance Date, any Additional Notes and all Exchange Notes issued in
exchange therefor shall be treated as a single class for all purposes under this Indenture,
including, without limitation, waivers, consents, directions, declarations, amendments, redemptions
and offers to purchase.

     With respect to any Additional Notes, the Issuers shall set forth in an Officers’ Certificate,
which shall be delivered to the Trustee, the following information:

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

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

     (3) whether such Additional Notes shall be Transfer Restricted Securities and issued in
the form of Initial Notes as set forth in Exhibit 1 to the Appendix to this Indenture or
shall be issued in the form of Exchange Notes as set forth in Exhibit A to the Appendix.

Any such Officers’ Certificate shall comply with Sections 11.04 and 11.05 and shall be accompanied
by an Opinion of Counsel complying with such Sections.

ARTICLE 3

REDEMPTION AND PREPAYMENT

     Section 3.01. Notices to Trustee.

     If the Issuers elect to redeem Notes pursuant to the optional redemption provisions of Section
3.07 hereof, they shall furnish to the Trustee, at least 15 days (unless a shorter period shall be
agreeable to the Trustee) before the date of giving notice of the redemption pursuant to Section
3.03, an Officers’ Certificate setting forth (i) the clause of Section 3.07 pursuant to

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which the redemption shall occur, (ii) the redemption date, (iii) the principal amount of
Notes to be redeemed, (iv) the redemption price, and (v) whether it requests the Trustee to give
notice of such redemption. Any such notice may be cancelled at any time prior to the mailing of
notice of such redemption to any Holder and shall thereby be void and of no effect.

     Section 3.02. Selection of Notes to Be Redeemed.

     If less than all of the Notes are to be redeemed at any time, the Trustee shall select the
Notes to be redeemed among the Holders of the Notes by such method as it shall deem fair and
appropriate. In the event of partial redemption other than on a pro rata basis, the particular
Notes to be redeemed shall be selected, not more than 60 days prior to the redemption date, by the
Trustee from the outstanding Notes not previously called for redemption.

     The Trustee shall promptly notify the Issuers in writing of the Notes selected for redemption
and, in the case of any Note selected for partial redemption, the principal amount thereof to be
redeemed. Notes and portions of Notes selected shall be in minimum amounts of $2,000 and in whole
multiples of $1,000 in excess thereof. Provisions of this Indenture that apply to Notes called for
redemption also apply to portions of Notes called for redemption.

     The provisions of the two preceding paragraphs of this Section 3.02 shall not apply with
respect to any redemption affecting only a Global Note, whether such Global Note is to be redeemed
in whole or in part. In case of any such redemption in part, the unredeemed portion of the
principal amount of the Global Note shall be in an authorized denomination.

     Section 3.03. Notice of Redemption.

     The Issuers shall mail or cause to be mailed, in accordance with Section 11.02, a notice of
redemption to each Holder whose Notes are to be redeemed, at least 30 days but not more than 60
days before a redemption date, except that redemption notices may be mailed more than 60 days prior
to a redemption date if the notice is issued in connection with a Legal Defeasance, Covenant
Defeasance or Discharge.

     The notice shall identify the Notes to be redeemed and shall state:

     (a) the redemption date;

     (b) the redemption price or, if the redemption price is not then determinable, the
manner in which it is to be determined;

     (c) if any Note is being redeemed in part, the portion of the principal amount of such
Note to be redeemed and that, after the redemption date upon surrender of such Note, a new
Note or Notes in a principal amount equal to the unredeemed portion shall be issued in the
name of the Holder upon cancellation of the original Note;

     (d) the name and address of the Paying Agent;

     (e) that Notes called for redemption must be surrendered to the Paying Agent to collect
the redemption price;

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     (f) that, unless the Issuers default in making such redemption payment, interest and
Additional Interest, if any, on Notes called for redemption cease to accrue on and after the
redemption date and the only remaining right of the Holders of such Notes is to receive
payment of the redemption price upon surrender to the Paying Agent of the Notes redeemed;

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

     (h) that no representation is made as to the correctness or accuracy of the CUSIP or
ISIN number, if any, listed in such notice or printed on the Notes.

     If any of the Notes to be redeemed is in the form of a Global Note, then the Issuers shall
modify such notice to the extent necessary to accord with the procedures of the Depository
applicable to redemption.

     At the Issuers’ request, the Trustee shall give the notice of optional redemption in the
Issuers’ names and at their expense; provided, however, that the Issuers shall have delivered to
the Trustee, as provided in Section 3.01, an Officers’ Certificate requesting that the Trustee give
such notice and setting forth the information to be stated in such notice as provided in the second
preceding paragraph.

     Section 3.04. Effect of Notice of Redemption.

     Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for
redemption become irrevocably due and payable on the redemption date at the redemption price. A
notice of redemption may not be conditional. If mailed in the manner provided for in Section 3.03,
the notice of redemption shall be conclusively presumed to have been given whether or not a Holder
receives such notice. Failure to give timely notice or any defect in the notice as to any
particular Holder shall not affect the validity of the redemption as to other Holders.

     Section 3.05. Deposit of Redemption Price.

     Prior to 11:00 a.m., New York City time, on the redemption date, the Issuers shall deposit
with the Paying Agent (or, if the Company or a Subsidiary thereof is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 2.04 hereof) money sufficient in same day
funds to pay the redemption price of and accrued interest and Additional Interest, if any, on all
Notes to be redeemed on that date. The Paying Agent shall promptly return to the Issuers any money
deposited with the Paying Agent by an Issuer in excess of the amounts necessary to pay the
redemption price of and accrued interest and Additional Interest, if any, on all Notes to be
redeemed.

     If the Issuers comply with the provisions of the preceding paragraph, on and after the
redemption date, interest and Additional Interest, if any, shall cease to accrue on the Notes or
the portions of Notes called for redemption whether or not such Notes are presented for payment,
and the only remaining right of the Holders of such Notes shall be to receive payment of the
redemption price upon surrender to the Paying Agent of the Notes redeemed. If any Note called

18

 

for redemption shall not be so paid upon surrender for redemption because of the failure of an
Issuer to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from
the redemption date until such principal is paid, and to the extent lawful, on any interest and
Additional Interest, if any, not paid on such unpaid principal, in each case at the rate provided
in the Notes and in Section 4.01 hereof.

     Section 3.06. Notes Redeemed in Part.

     Upon surrender of a Note that is redeemed in part, the Issuers shall issue in the name of the
Holder and the Trustee shall authenticate for the Holder at the expense of the Issuers a new Note
equal in principal amount to the unredeemed portion of the Note surrendered.

     Section 3.07. Optional Redemption.

       (a) Except as set forth in clause (b) of this Section 3.07, the Issuers shall not have
the option to redeem the Notes.

       (b) At any time or from time to time, the Issuers may redeem all or part of the Notes
at a redemption price equal to the sum of:

          (i) 100% of the principal amount thereof, plus

          (ii) accrued and unpaid interest, if any, to the redemption date (subject to the right
of Holders of record on the relevant record date to receive interest due on an interest
payment date that is on or prior to the redemption date), plus

          (iii) the Make Whole Premium at the redemption date.

       (c) Any redemption pursuant to this Section 3.07 shall be made pursuant to the
provisions of Section 3.01 through Section 3.06 hereof.

     Section 3.08. Mandatory Redemption.

     Except as set forth under Section 4.10 hereof, neither of the Issuers shall be required to
make mandatory redemption or sinking fund payments with respect to the Notes or to repurchase the
Notes at the option of the Holders.

ARTICLE 4

COVENANTS

     Section 4.01. Payment of Notes.

     The Issuers shall pay or cause to be paid the principal of, and premium, if any, interest and
Additional Interest, if any, on, the Notes on the dates and in the manner provided in the Notes.
Principal, premium, if any, interest and Additional Interest, if any, shall be considered paid on
the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of
11:00 a.m., New York City time, on the due date money deposited by an Issuer or a

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Guarantor in immediately available funds and designated for and sufficient to pay all
principal, premium, if any, interest and Additional Interest, if any, then due.

     The Issuers shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at the rate equal to the interest rate then in effect with
respect to the Notes to the extent lawful; and they shall pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and
Additional Interest, if any (without regard to any applicable grace period), at the same rate to
the extent lawful.

          Section 4.02. Maintenance of Office or Agency.

     The Issuers shall maintain an office or agency (which may be an office of the Trustee or an
affiliate of the Trustee) in New York, New York where Notes may be presented or surrendered for
payment and they shall maintain an office or agency (which may be an office of the Trustee or an
affiliate of the Trustee) where Notes may be surrendered for registration of transfer or for
exchange and where notices and demands to or upon the Issuers in respect of the Notes and this
Indenture may be served. The Issuers shall give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency. If at any time the Issuers
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with
the address thereof, such presentations, surrenders, notices and demands may be made or served at
the Corporate Trust Office of the Trustee.

     The Issuers may also from time to time designate one or more other offices or agencies where
the Notes may be presented or surrendered for any or all such purposes and may from time to time
rescind such designations. Further, if at any time there shall be no such office or agency in the
City of New York where the Notes may be presented or surrendered for payment, the Issuers shall
forthwith designate and maintain such an office or agency in the City of New York, in order that
the Notes shall at all times be payable in the City of New York. The Issuers shall give prompt
written notice to the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency.

     The Issuers hereby designate the Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 2.03.

          Section 4.03. Reports.

     (a) Notwithstanding that the Company may not be subject to the reporting requirements of
Section 13 or 15(d) of the Exchange Act, so long as any Notes are outstanding, the Company will
file with the SEC (unless the SEC will not accept such a filing) for public availability within the
time periods specified in the SEC’s rules and regulations under the Exchange Act and, within 30
Business Days after the time specified in the SEC’s rules and regulations, furnish to the Trustee
and, upon its prior request, to any of the Holders or Beneficial Owners of the Notes:

          (1) all quarterly and annual financial and other information with respect to the
Company and its Subsidiaries that would be required to be contained in a filing with the SEC
on Forms 10-Q and 10-K if the Company were required to file such forms, including

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a “Management’s Discussion and Analysis of Financial Condition and Results of
Operations” and, with respect to the annual information only, a report thereon by the
Company’s certified independent accountants; and

          (2) all current reports that would be required to be filed with the SEC on Form 8-K if
the Company were required to file such reports.

The Issuers and any Guarantors shall at all times comply with TIA § 314(a).

     (b) The Company shall furnish to the Holders and Beneficial Owners of the Notes, prospective
purchasers of the Notes and securities analysts, upon their request, the information, if any,
required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

     (c) Delivery of reports, information and documents to the Trustee under this Section is for
informational purposes only and the Trustee’s receipt of the foregoing shall not constitute
constructive notice of any information contained therein or determinable from information contained
therein.

          Section 4.04. Compliance Certificate.

     The Issuers and any Guarantors shall deliver to the Trustee, within 120 days after the end of
each fiscal year ending after December 31, 2006, a written statement (which need not be an
Officers’ Certificate) signed by the principal executive officer, the principal accounting officer,
or the principal financial officer of each of the Issuers and any Guarantor stating that in the
course of performance of his or her duties as an officer of each of the Issuers and any Guarantor
he or she would normally obtain knowledge of the keeping, observing, performing and fulfilling by
each of the Issuers and any Guarantor of its obligations under this Indenture, and further stating
that to his or her knowledge each of the Issuers and any Guarantors has kept, observed, performed
and fulfilled each and every covenant contained in this Indenture and is not in default in the
performance or observance of any of the terms, provisions and conditions of this Indenture (or, if
a Default or Event of Default shall have occurred, describing all such Defaults or Events of
Default of which he or she may have knowledge and what action the Company or any of its
Subsidiaries is taking or proposes to take with respect thereto).

          Section 4.05. [Intentionally Omitted].

          Section 4.06. [Intentionally Omitted].

          Section 4.07. Limitation on Liens.

     The Company shall not, and shall not permit any Subsidiary of the Company to, issue, assume or
guarantee any Indebtedness secured by a Lien, other than a Permitted Lien, upon any of their
respective properties, without providing that the Notes shall be equally and ratably

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secured with such Indebtedness until such time as such Indebtedness is no longer secured by a
Lien.

     Notwithstanding the preceding, the Company may, and may permit any Subsidiary of the Company
to, issue, assume or guarantee any Indebtedness secured by a Lien, other than a Permitted Lien,
without securing the Notes, provided that the aggregate principal amount of all Indebtedness then
outstanding secured by Liens (other than Permitted Liens) does not exceed 15% of Consolidated Net
Tangible Assets.

     Section 4.08. Potential Subsidiary Guarantees.

     If, after the date of this Indenture, any Subsidiary of the Company that is not already a
Guarantor guarantees any other Indebtedness of either of the Issuers or any Indebtedness of any
Guarantor, or any Qualifying Domestic Subsidiary, if not then a Guarantor, incurs any Indebtedness
aggregating in excess of $50.0 million in principal amount at any time outstanding, then, in either
case, that Subsidiary shall become a Guarantor by executing (together with the Issuers and any
other Guarantors) a supplemental indenture substantially in the form of Annex A hereto and
delivering it to the Trustee within twenty Business Days of the date on which it guaranteed or
incurred such Indebtedness, as the case may be, together with any Officers’ Certificate or Opinion
of Counsel required by Section 9.06.

     Section 4.09. [Intentionally Omitted].

     Section 4.10. Offer to Repurchase Upon Change of Control.

        (1) Within 30 days following the occurrence of a Change of Control, the Company shall
make an offer (a “Change of Control Offer”) to repurchase all or any part (equal to $2,000
or an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase
price (the “Change of Control Payment”) in cash equal to 101% of the aggregate principal
amount of Notes repurchased, plus accrued and unpaid interest and Additional Interest, if
any, thereon to the date of settlement (the “Change of Control Settlement Date”), subject to
the right of Holders of record on the relevant record date to receive interest due on an
interest payment date that is on or prior to the Change of Control Settlement Date. Within
30 days following a Change of Control, the Company shall mail a notice of the Change of
Control Offer to each Holder and the Trustee describing the transaction that constitutes the
Change of Control and stating:

     (a) that the Change of Control Offer is being made pursuant to this Section
4.10 and that all Notes validly tendered and not withdrawn will be accepted for
payment;

     (b) the purchase price and the purchase date, which shall be no earlier than 30
days but no later than 60 days from the date such notice is mailed (the “Change of
Control Purchase Date”);

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     (c) that the Change of Control Offer will expire as of the time specified in
such notice on the Change of Control Purchase Date and that the Company shall pay
the Change of Control Purchase Price for all Notes purchased as of the Change of
Control Purchase Date promptly thereafter on the Change of Control Settlement Date;

     (d) that any Note not tendered will continue to accrue interest and Additional
Interest, if any;

     (e) that, unless the Company defaults in the payment of the Change of Control
Payment, all Notes accepted for payment pursuant to the Change of Control Offer
shall cease to accrue interest and Additional Interest, if any, after the Change of
Control Settlement Date;

     (f) that Holders electing to have any Notes purchased pursuant to a Change of
Control Offer will be required to surrender the Notes, properly endorsed for
transfer, together with the form entitled “Option of Holder to Elect Purchase” on
the reverse of the Notes completed and such customary documents as the Company may
reasonably request, to the Paying Agent at the address specified in the notice prior
to the termination of the Change of Control Offer on the Change of Control Purchase
Date;

     (g) that Holders will be entitled to withdraw their election if the Paying
Agent receives, prior to the termination of the Change of Control Offer, a telegram,
facsimile transmission or letter setting forth the name of the Holder, the principal
amount of Notes delivered for purchase, and a statement that such Holder is
withdrawing its election to have the Notes purchased; and

     (h) that Holders whose Notes are being purchased only in part will be issued
new Notes equal in principal amount to the unpurchased portion of the Notes
surrendered, which unpurchased portion must be equal to $1,000 in principal amount
or an integral multiple thereof.

If any of the Notes subject to a Change of Control Offer is in the form of a Global Note,
then the Company shall modify such notice to the extent necessary to accord with the
procedures of the Depository applicable to repurchases. Further, the Company shall comply
with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent such laws and regulations are applicable in connection
with the repurchase of Notes as a result of a Change of Control. To the extent that the
provisions of any securities laws or regulations conflict with the provisions of this
Section 4.10, the Company shall comply with the applicable securities laws and regulations
and will not be deemed to have breached its obligations under such provisions by virtue of
such conflict.

       (2) On the Change of Control Purchase Date, the Company shall, to the extent lawful,
accept for payment all Notes or portions thereof (in integral multiples of $1,000)

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properly tendered pursuant to the Change of Control Offer. Promptly thereafter on the
Change of Control Settlement Date the Company shall:

     (a) deposit with the Paying Agent by 11:00 a.m., New York City time, an amount
equal to the Change of Control Payment in respect of all Notes or portions thereof
so tendered; and

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

On the Change of Control Settlement Date, the Paying Agent shall mail to each Holder of
Notes properly tendered the Change of Control Payment for such Notes (or, if all the Notes
are then in global form, make such payment through the facilities of the Depository) and the
Trustee shall authenticate and mail (or cause to be transferred by book entry) to each
Holder a new Note equal in principal amount to any unpurchased portion of the Notes
surrendered, if any; provided, however, that each such new Note will be in a principal
amount of $2,000 or an integral multiple of $1,000 in excess thereof. The Company shall
publicly announce the results of the Change of Control Offer on or as soon as practicable
after the Change of Control Purchase Date.

       (3) Subject to the provisions of Section 4.13, the Change of Control provisions
described above shall be applicable whether or nor any other provisions of this Indenture
are applicable.

       (4) Prior to complying with any of the provisions of this Section 4.10, but in any
event no later than the Change of Control Purchase Date, if the Company is subject to any
agreement restricting its compliance with this Section 4.10, the Company must either repay
all of the Senior Debt outstanding under such agreement or obtain the requisite consents, if
any, under such agreement to permit the repurchase of Notes required by this Section 4.10.

       (5) The Company shall not be required to make a Change of Control Offer following a
Change of Control if a third party makes the Change of Control Offer in the manner, at the
time and otherwise in compliance with the requirements set forth in this Indenture
applicable to a Change of Control Offer made by the Company and purchases all Notes properly
tendered and not withdrawn under such Change of Control Offer.

     Section 4.11. Permitted Business Activities of Finance Corp.

     Finance Corp. shall not incur Indebtedness unless (1) the Company is a co-obligor or guarantor
of such Indebtedness or (2) the net proceeds of such Indebtedness are loaned to the Company, used
to acquire outstanding debt securities issued by the Company or used to repay Indebtedness of the
Company. Finance Corp. shall not engage in any business not related directly or indirectly to
obtaining money or arranging financing for the Company or its Subsidiaries.

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     Section 4.12. No Inducements.

     The Company shall not, and the Company shall not permit any of its Subsidiaries, either
directly or indirectly, to pay (or cause to be paid) any consideration, whether by way of interest,
fee or otherwise, to any Beneficial Owner or Holder of the Notes for or as an inducement to any
consent to any waiver, amendment or supplement of any terms or provisions of this Indenture or the
Notes, unless such consideration is offered to be paid (or agreed to be paid) to all Beneficial
Owners and Holders of the Notes which so consent in the time frame set forth in the solicitation
documents relating to such consent.

     Section 4.13. Covenant Termination.

     If at any time (a) the rating assigned to the Notes by at least two of S&P, Moody’s and Fitch
is an Investment Grade Rating and (b) no Default has occurred and is continuing under this
Indenture, upon the Company’s delivery to the Trustee of an Officers’ Certificate to the effect
that the conditions described in clauses (a) and (b) are satisfied, the Company and its
Subsidiaries shall no longer be subject to the provisions of Sections 4.08 and 4.10 and Article 10
of this Indenture and any Subsidiary Guarantee then outstanding shall be released as provided in
Section 10.02. However, the Company and its Subsidiaries shall remain subject to all of the other
provisions of this Indenture.

ARTICLE 5

SUCCESSORS

     Section 5.01. Merger, Consolidation, or Sale of Assets.

     Neither of the Issuers may, directly or indirectly, (1) consolidate or merge with or into
another Person (whether or not such Issuer is the survivor), or (2) sell, assign, transfer, lease,
convey or otherwise dispose of all or substantially all of its properties or assets in one or more
related transactions to another Person, except in any case respecting the Company in accordance
with the Limited Partnership Agreement, unless:

     (a) either (1) such Issuer is the survivor or (2) the Person formed by or surviving any
such consolidation or merger (if other than such Issuer ) or to which such sale, assignment,
transfer, lease, conveyance or other disposition shall have been made is a Person organized
or existing under the laws of the United States, any state of the United States or the
District of Columbia; provided, however, that Finance Corp. may not consolidate or merge
with or into any Person other than a corporation satisfying such requirement so long as the
Company is not a corporation;

     (b) the Person formed by or surviving any such consolidation or merger (if other than
such Issuer) or the Person to which such sale, assignment, transfer, lease, conveyance or
other disposition shall have been made assumes all the obligations of such Issuer under the
Notes, this Indenture and the applicable Registration Rights Agreement pursuant to a
supplemental indenture or other agreement in a form reasonably satisfactory to the Trustee;

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

     (d) such Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger or disposition and such supplemental
indenture (if any) comply with this Indenture.

     Section 5.02. Successor Substituted.

     Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or
other disposition of all or substantially all of the properties or assets of an Issuer in
accordance with Section 5.01 hereof, the successor formed by such consolidation or into which such
Issuer is merged or to which such sale, assignment, transfer, lease, conveyance or other
disposition is made shall succeed to, and may exercise every right and power of, such Issuer under
this Indenture with the same effect as if such successor had been named as such Issuer herein and
shall be substituted for such Issuer (so that from and after the date of such consolidation,
merger, sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this
Indenture referring to the “Company” or “Finance Corp.,” as the case may be, shall refer instead to
the successor and not to the Company or Finance Corp., as the case may be); and thereafter, if an
Issuer is dissolved following a transfer of all or substantially all of its properties or assets in
accordance with this Indenture, it shall be discharged and released from all obligations and
covenants under this Indenture and the Notes.

     Upon any consolidation or merger of a Guarantor, the successor formed by such consolidation or
into which such Guarantor is merged shall succeed to, and may exercise every right and power of and
shall be subject to every obligation of, such Guarantor under this Indenture with the same effect
as if such successor had been named as such Guarantor herein and shall be substituted for such
Guarantor (so that from and after the date of such consolidation or merger the provisions of this
Indenture referring to such “Guarantor” shall refer instead to the successor and not to the
predecessor Guarantor).

ARTICLE 6

DEFAULTS AND REMEDIES

     Section 6.01. Events of Default.

     An “Event of Default” occurs if one of the following shall have occurred and be continuing
(whatever the reason for such Event of Default and whether it shall be involuntary or be effected
by operation of law):

     (a) an Issuer defaults in the payment when due of interest or Additional Interest, if
any, with respect to, the Notes, and such default continues for a period of 30 days;

     (b) an Issuer defaults in the payment of the principal of, or premium, if any, on, the
Notes when due at their Stated Maturity, upon required repurchase, upon optional redemption,
upon declaration or otherwise;

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     (c) the Company fails to comply with the provisions of Section 4.10 or 5.01 hereof;

     (d) the Company fails to comply with any other covenant or other agreement in this
Indenture or the Notes for 60 days after its receipt of written notice requiring the same to
be remedied and stating that such notice is a “Notice of Default” given by registered or
certified mail by the Trustee upon direction by the Holders of at least 25% in principal
amount of the Notes then outstanding; provided, that if such failure cannot be remedied
within such 60-day period, such period shall be extended by another 60 days so long as (i)
such failure is subject to cure and (ii) the Company is using commercially reasonable
efforts to cure such failure; and provided, further, that a failure to comply with any such
other agreement in this Indenture or the Notes that results from a change in GAAP shall not
be deemed to be an Event of Default;

     (e) except as permitted by this Indenture, any Subsidiary Guarantee is held in any
judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full
force and effect or any Guarantor, or any Person acting on behalf of any Guarantor, denies
or disaffirms its obligations under its Subsidiary Guarantee; and

     (f) the Company, Finance Corp., any of the Company’s Subsidiaries that is a Significant
Subsidiary of the Company or any group of Subsidiaries of the Company that, taken together,
would constitute a Significant Subsidiary of the Company pursuant to or within the meaning
of Bankruptcy Law:

     (1) commences a voluntary case,

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

     (3) consents in writing 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

     (5) admits in writing it generally is not paying its debts as they become due;
or

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

     (1) is for relief against the Company, Finance Corp., any of the Company’s
Subsidiaries that is a Significant Subsidiary of the Company or any group of
Subsidiaries of the Company that, taken together, would constitute a Significant
Subsidiary of the Company in an involuntary case;

     (2) appoints a Custodian of the Company, Finance Corp., any of the Company’s
Subsidiaries that is a Significant Subsidiary of the Company or any group of
Subsidiaries of the Company that, taken together, would constitute a

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Significant Subsidiary of the Company or for all or substantially all of the
property of the Company, Finance Corp., any of the Company’s Subsidiaries that is a
Significant Subsidiary of the Company or any group of Subsidiaries of the Company,
that, taken together, would constitute a Significant Subsidiary of the Company; or

     (3) orders the liquidation of the Company, Finance Corp., any of the Company’s
Subsidiaries that is a Significant Subsidiary of the Company or any group of
Subsidiaries of the Company that, taken together, would constitute a Significant
Subsidiary of the Company;

     and the order or decree remains unstayed and in effect for 90 consecutive days.

     Section 6.02. Acceleration.

     If any Event of Default occurs and is continuing, the Trustee, by notice to the Issuers, or
the Holders of at least 25%, in the case of clause (a) or (b) of Section 6.01 hereof, or of at
least a majority, in the case of clauses (c) – (e) of Section 6.01 hereof, in principal amount of
the then outstanding Notes, by notice to the Issuers and the Trustee, may declare all the Notes to
be due and payable immediately. Upon any such declaration, the Notes shall become due and payable
immediately, together with all accrued and unpaid interest, Additional Interest, if any, and
premium, if any, thereon. Notwithstanding the preceding, if an Event of Default specified in
clause (f) or (g) of Section 6.01 hereof occurs with respect to the Company, Finance Corp., any of
the Company’s Subsidiaries that is a Significant Subsidiary of the Company or any group of
Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary of the
Company, all outstanding Notes shall become due and payable without further action or notice,
together with all accrued and unpaid interest, Additional Interest, if any, and premium, if any,
thereon. The Holders of a majority in principal amount of the then outstanding Notes by notice to
the Trustee may on behalf of all of the Holders rescind an acceleration and its consequences if (i)
the rescission would not conflict with any judgment or decree, (ii) all existing Events of Default
(except with respect to nonpayment of principal, premium, if any, interest or Additional Interest,
if any, that have become due solely because of the acceleration) have been cured or waived and
(iii) all amounts due to the Trustee under Section 7.07 have been paid.

     Section 6.03. Other Remedies.

     If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy
to collect the payment of principal of, and premium, if any, interest and Additional Interest, if
any, on, the Notes or to enforce the performance of any provision of the Notes or this Indenture.

     The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note
in exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law.

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     Section 6.04. Waiver of Past Defaults.

     Holders of a majority in principal amount of the then outstanding Notes by notice to the
Trustee may on behalf of the Holders of all of the Notes waive any existing Default or Event of
Default and its consequences hereunder, except a continuing Default or Event of Default in the
payment of the principal of, or premium, if any, interest or Additional Interest, if any, on, the
Notes (including in connection with an offer to purchase). 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 6.05. Control by Majority.

     Holders of a majority in principal amount of the then outstanding Notes may direct the time,
method and place of conducting any proceeding for exercising any remedy available to the Trustee or
exercising any trust or power conferred on it. However, the Trustee may refuse to follow any
direction that conflicts with law or this Indenture or that the Trustee determines may be unduly
prejudicial to the rights of other Holders of Notes or that may involve the Trustee in personal
liability.

     Section 6.06. Limitation on Suits.

     A Holder of a Note may pursue a remedy with respect to this Indenture or the Notes only if:

     (a) the Holder of a Note gives to the Trustee written notice of a continuing Event of
Default;

     (b) the Holders of at least 25%, or, in the case of an Event of Default specified in
clauses (c) – (e) of Section 6.01 hereof, at least a majority, in principal amount of the
then outstanding Notes make a written request to the Trustee to pursue the remedy;

     (c) such Holder of a Note or Holders of Notes offer and, if requested, provide to the
Trustee indemnity or security satisfactory to the Trustee against any loss, liability or
expense;

     (d) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer and, if requested, the provision of indemnity; and

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

A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a Note
or to obtain a preference or priority over another Holder of a Note.

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     Section 6.07. Rights of Holders of Notes to Receive Payment.

     Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to
receive payment of principal of, and premium, if any, interest and Additional Interest, if any, on,
the Note, on or after the respective due dates expressed or provided for in the Note (including in
connection with an offer to purchase), or to bring suit for the enforcement of any such payment on
or after such respective dates, shall not be impaired or affected without the consent of such
Holder.

     Section 6.08. Collection Suit by Trustee.

     If an Event of Default specified in Section 6.01(a) or (b) occurs and is continuing, the
Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Issuers and any Guarantors for the whole amount of principal, premium, if any, interest
and Additional Interest, if any, remaining unpaid on the Notes and interest on overdue principal
and, to the extent lawful, interest and Additional Interest, if any, as provided for in the Notes
and in Section 4.01 hereof, and 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.

     Section 6.09. Trustee May File Proofs of Claim.

     The Trustee is authorized to file such proofs of claim and 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 the Holders of the Notes allowed in any judicial proceedings relative to the Issuers
(or any other obligor upon the Notes), their creditors or their property and shall be entitled and
empowered to collect, receive and distribute any money or other property payable or deliverable on
any such claims and any custodian 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 to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and any other amounts due the Trustee under Section 7.07 hereof. To the extent that the
payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in
any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien
on, and shall be paid out of, any and all distributions, dividends, money, securities and other
properties that the Holders may be entitled to receive in such proceeding whether in liquidation or
under any plan of reorganization or arrangement or otherwise. 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 Notes or
the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder
in any such proceeding.

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     Section 6.10. Priorities.

     If the Trustee collects any money pursuant to this Article, it shall pay out the money in the
following order:

     First: to the Trustee, its agents and attorneys for amounts due under Section 7.07
hereof, including payment of all compensation, expense and liabilities incurred, and all
advances made, by the Trustee and the Trustee’s costs and expenses of collection;

     Second: to Holders of Notes for amounts due and unpaid on the Notes for principal,
premium, interest and Additional Interest, if any, ratably, without preference or priority
of any kind, according to the amounts due and payable on the Notes for principal, premium,
interest and Additional Interest, if any, respectively; and

     Third: to the Issuers or to such party as a court of competent jurisdiction shall
direct.

     The Trustee may fix a record date and payment date for any payment to Holders of Notes
pursuant to this Section 6.10.

     Section 6.11. Undertaking for Costs.

     In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the
claims or defenses made by the party litigant. This Section does not apply to a suit by the
Trustee, a suit by a Holder of a Note pursuant to Section 6.07 hereof, or a suit by Holders of more
than 10% in principal amount of the then outstanding Notes.

ARTICLE 7

TRUSTEE

     Section 7.01. 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
its 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:

     (i) the duties of the Trustee shall be determined solely by the express provisions of
this Indenture and 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

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     (ii) 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 the certificates and opinions to determine
whether or not they conform to the requirements of this Indenture.

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

     (i) this paragraph does not limit the effect of paragraph (b) of this Section 7.01;

     (ii) 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 negligent in ascertaining the
pertinent facts;

     (iii) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.05
hereof; and

     (iv) no provision of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured to it.

     (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01.

     (e) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with an Issuer. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law.

     Section 7.02. Rights of Trustee.

     (a) The Trustee may conclusively rely upon any 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 the document.

     (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel or both covering such matters as the Trustee shall reasonably request.
The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance
on such Officers’ 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 from liability in respect of 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 its attorneys and agents and shall not be responsible for the
misconduct or negligence of any agent appointed with due care.

     (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture.

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

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

     (g) The Trustee shall have no duty to inquire as to the performance of the Company’s covenants
in Article 4 hereof. In addition, the Trustee shall not be deemed to have knowledge of any Default
or Event of Default except: (1) any Event of Default occurring pursuant to Section 6.01(a) or
6.01(b) hereof if the Trustee is then a Paying Agent; or (2) any Default or Event of Default of
which a Responsible Officer shall have received written notification from an Issuer, a Guarantor or
a Holder, or obtained actual knowledge.

     (h) The permissive right of the Trustee to act hereunder shall not be construed as a duty.

     Section 7.03. Individual Rights of Trustee.

     The Trustee or any Agent in its individual or any other capacity may become the owner or
pledgee of Notes and may otherwise deal with the Issuers, any Guarantor or any Affiliate of the
Company with the same rights it would have if it were not Trustee or such Agent. However, in the
event that the Trustee acquires any conflicting interest (as defined in the TIA) after a Default
has occurred and is continuing, it must eliminate such conflict within 90 days, apply to the SEC
for permission to continue as trustee or resign. The Trustee is also subject to Sections 7.10 and
7.11 hereof.

     Section 7.04. Trustee’s Disclaimer.

     The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture or the Notes, it shall not be accountable for either Issuer’s use of the
proceeds from the Notes or any money paid to an Issuer or upon either Issuer’s direction under any
provision of this Indenture, it shall not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it shall not be responsible for any
statement or recital herein or any statement in the Notes or any other document in connection with
the sale of the Notes or pursuant to this Indenture other than its certificate of authentication.

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     Section 7.05. Notice of Defaults.

     If a Default or Event of Default occurs and is continuing and if it is known to the Trustee,
the Trustee shall mail to Holders of Notes 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, or premium, if any, interest or Additional Interest, if any, on, any Note, the Trustee may
withhold the notice if and so long as a committee of its Responsible Officers in good faith
determines that withholding the notice is in the interests of the Holders of the Notes.

     Section 7.06. Reports by Trustee to Holders of the Notes.

     Within 60 days after each May 15 beginning with the May 15 following the date of this
Indenture, and for so long as Notes remain outstanding, the Trustee shall mail to the Holders of
the Notes a brief report dated as of such reporting date that complies with TIA § 313(a) (but if no
event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date,
no report need be transmitted). The Trustee also shall comply with TIA § 313(b)(2) and §
313(b)(1). The Trustee shall also transmit by mail all reports as required by TIA § 313(c).

     A copy of each report at the time of its mailing to the Holders of Notes shall be mailed to
the Issuers and filed with the SEC and each stock exchange on which the Notes are listed in
accordance with TIA § 313(d). The Company shall promptly notify the Trustee when the Notes are
listed on any stock exchange.

     Section 7.07. Compensation and Indemnity.

     The Issuers shall pay to the Trustee from time to time such reasonable compensation as the
Issuers and the Trustee may agree in writing for the Trustee’s acceptance of this Indenture and
services hereunder. The Trustee’s compensation shall not be limited by any law on compensation of
a trustee of an express trust. The Issuers shall reimburse the Trustee promptly upon request for
all reasonable disbursements, advances and expenses incurred or made by it in addition to the
compensation for its services, except for any disbursements, advances or expenses as may be caused
by the Trustee’s own negligence or willful misconduct. Such expenses shall include the reasonable
compensation, disbursements and expenses of the Trustee’s agents and counsel.

     The Issuers and any Guarantors shall indemnify the Trustee, jointly and severally, against any
and all losses, liabilities or expenses incurred by it arising out of or in connection with the
acceptance or administration of its duties under this Indenture, including the costs and expenses
of enforcing this Indenture against the Issuers and any Guarantors (including this Section 7.07)
and defending itself against any claim (whether asserted by an Issuer, any Guarantor or any Holder
or any other Person) or liability in connection with the exercise or performance of any of its
powers or duties hereunder, except to the extent any such loss, liability or expense may be
attributable to its negligence, bad faith or willful misconduct. The Trustee shall notify the
Issuers and any Guarantors promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Issuers and any Guarantors shall not relieve the Issuers or any Guarantors
of their obligations hereunder. The Issuers and any Guarantors shall defend the claim and the
Trustee shall cooperate in the defense. The Trustee may have separate counsel and

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the Issuers and any Guarantors shall pay the reasonable fees and expenses of such counsel;
provided that the Issuers and any Guarantors will not be required to pay such fees and expenses if
they assume the Trustee’s defense with counsel acceptable to and approved by the Trustee (such
approval not to be unreasonably withheld) and there is no conflict of interest between the Issuers
and the Trustee in connection with such defense. The Issuers and any Guarantors need not pay for
any settlement made without their consent, which consent shall not be unreasonably withheld.
Neither the Issuers nor any Guarantors need reimburse the Trustee for any expense or indemnify
against any liability or loss of the Trustee to the extent such expense, liability or loss is
attributable to the negligence, bad faith or willful misconduct of the Trustee.

     The obligations of the Issuers and any Guarantors under this Section 7.07 shall survive the
satisfaction and discharge of this Indenture.

     To secure the Issuers’ and any Guarantors’ payment obligations in this Section 7.07, the
Trustee shall have a Lien prior to the Notes on all money or property held or collected by the
Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien
shall survive the satisfaction and discharge of this Indenture.

     Without prejudice to any other remedies available to the Trustee under applicable law, when
the Trustee incurs expenses or renders services after an Event of Default specified in Section
6.01(f) or (g) hereof occurs, the expenses and the compensation for the services (including the
fees and expenses of its agents and counsel) are intended to constitute expenses of administration
under any Bankruptcy Law.

     Section 7.08. 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.

     The Trustee may resign in writing upon 30 days notice at any time and be discharged from the
trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal
amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the
Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The
Issuers may remove the Trustee if:

     (a) the Trustee fails to comply with Section 7.10 hereof;

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

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

     (d) the Trustee becomes incapable of acting.

     If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any
reason, the Issuers shall promptly appoint a successor Trustee. Within one year after the

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successor Trustee takes office, the Holders of a majority in principal amount of the then
outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Issuers.

     If a successor Trustee has not been appointed within 90 days after the retiring Trustee
resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in
principal amount of the then outstanding Notes may petition any court of competent jurisdiction for
the appointment of a successor Trustee.

     If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note
for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may
petition any court of competent jurisdiction for the removal of the Trustee and the appointment of
a successor Trustee.

     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Issuers. 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
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders of the Notes. The retiring Trustee shall promptly transfer all property held by it as
Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid
and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the
Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section
7.07 hereof shall continue for the benefit of the retiring Trustee.

     Section 7.09. Successor Trustee by Merger, Etc.

     If the Trustee consolidates, merges or converts into, or transfers all or substantially all of
its corporate trust business to, another corporation, the successor corporation without any further
act shall be the successor Trustee. As soon as practicable, the successor Trustee shall mail a
notice of its succession to the Issuers and the Holders of the Notes.

     Section 7.10. Eligibility; Disqualification.

     There shall at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate trustee power, that is subject to supervision or examination
by federal or state authorities and that has a combined capital and surplus of at least $100
million as set forth in its most recent published annual report of condition.

     This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1),
(2) and (5). The Trustee is subject to TIA § 310(b). The Trustee shall not be deemed to have a
conflicting interest within the meaning of TIA § 310(b) by virtue of being trustee under the
Indenture dated as of June 20, 2006 among the Issuers and The Bank of New York (as successor to
JPMorgan Chase Bank, N.A.), as Trustee.

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     Section 7.11. Preferential Collection of Claims Against Issuers.

     The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA §
311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent
indicated therein.

ARTICLE 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

     Section 8.01. Option to Effect Legal Defeasance or Covenant Defeasance.

     The Issuers may, at their option evidenced by an Officers’ Certificate, at any time, exercise
their rights under either Section 8.02 or 8.03 hereof with respect to all outstanding Notes upon
compliance with the conditions set forth below in this Article 8.

     Section 8.02. Legal Defeasance and Discharge.

     Upon the Issuers’ exercise under Section 8.01 hereof of the option applicable to this Section
8.02, the Issuers shall, subject to the satisfaction of the conditions set forth in Section 8.04
hereof, be deemed to have discharged their obligations with respect to all outstanding Notes, and
each Guarantor shall be deemed to have discharged its obligations with respect to its Subsidiary
Guarantee, on the date the conditions set forth in Section 8.04 below are satisfied (hereinafter,
“Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuers shall be deemed to
have paid and discharged the entire Indebtedness represented by the outstanding Notes, and each
Guarantor shall be deemed to have paid and discharged its Subsidiary Guarantee (which in the case
of the Notes shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.05
hereof and the other Sections of this Indenture referred to in (a) and (b) below) and to have
satisfied all its other obligations under such Notes or Subsidiary Guarantee and this Indenture
(and the Trustee, on demand of and at the expense of the Issuers, shall execute proper instruments
acknowledging the same), except for the following provisions which shall survive until otherwise
terminated or discharged hereunder: (a) the rights of Holders of outstanding Notes to receive
solely from the trust fund described in Section 8.04 hereof, and as more fully set forth in such
Section, payments in respect of the principal of, and premium, if any, interest and Additional
Interest, if any, on, such Notes when such payments are due, (b) the Issuers’ obligations with
respect to such Notes under Sections 2.03, 2.04, 2.07, 2.09 and 4.02 hereof and the Appendix, (c)
the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuers’ and the
Guarantors’ obligations in connection therewith and (d) the Legal Defeasance provisions of this
Article 8. Subject to compliance with this Article 8, the Issuers may exercise their option under
this Section 8.02 notwithstanding the prior exercise of their option under Section 8.03 hereof.

     If the Issuers exercise their Legal Defeasance option, each Guarantor shall be released and
relieved of any obligations under its Subsidiary Guarantee, and any security for the Notes (other
than the trust) shall be released.

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     Section 8.03. Covenant Defeasance.

     Upon the Issuers’ exercise under Section 8.01 hereof of the option applicable to this Section
8.03, the Issuers shall, subject to the satisfaction of the conditions set forth in Section 8.04
hereof, be released from their obligations under the covenants contained in Article 4 (other than
those in Sections 4.01 and 4.02 and those imposed by TIA § 318(c)) on and after the date the
conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the Notes shall
thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or
declaration or act of Holders (and the consequences of any thereof) in connection with such
covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder. For
this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuers
and any Guarantor may omit to comply with and shall have no liability in respect of any term,
condition or limitation set forth in any such covenant, whether directly or indirectly, by reason
of any reference elsewhere herein to any such covenant or by reason of any reference in any such
covenant to any other provision herein or in any other document and such omission to comply shall
not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified
above, the remainder of this Indenture and such Notes shall be unaffected thereby. In addition,
upon the Issuers’ exercise under Section 8.01 hereof of the option applicable to this Section 8.03
hereof, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, Section
6.01(e) hereof shall not constitute an Event of Default.

     If the Issuers exercise their Covenant Defeasance option, each Guarantor shall be released and
relieved of any obligations under its Subsidiary Guarantee and any security for the Notes (other
than the trust) shall be released.

     Section 8.04. Conditions to Legal or Covenant Defeasance.

     In order to exercise either Legal Defeasance or Covenant Defeasance:

     (a) the Issuers must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders, an amount of cash in U.S. dollars, non-callable Government Securities that
through the payment of interest and principal in accordance with their terms, or a
combination thereof, as will be sufficient without consideration of any reinvestment of
interest, in the opinion of a nationally recognized firm of independent public accountants,
to pay the principal of, and premium, if any, interest and Additional Interest, if any, on,
the outstanding Notes on the date of fixed maturity or on the applicable redemption date, as
the case may be, and the Issuers must specify whether the Notes are being defeased to the
date of fixed maturity or to a particular redemption date, and in the case of a defeasance
to a particular redemption date, notice of such redemption shall have been given pursuant to
this Indenture or the Issuers shall have given the Trustee irrevocable direction to give
such notice;

     (b) in the case of an election under Section 8.02 hereof, the Issuers shall have
delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that:

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     (1) the Issuers have received from, or there has been published by, the
Internal Revenue Service a ruling; or

     (2) since the Initial Issuance Date, there has been a change in the applicable
federal income tax law,

in either case to the effect that, and based thereon such Opinion of Counsel shall confirm
that, the Holders of the outstanding Notes will not recognize income, gain or loss for
federal income tax purposes as a result of such Legal Defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such Legal Defeasance had not occurred;

     (c) in the case of an election under Section 8.03 hereof, the Issuers shall have
delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that the Holders of the outstanding Notes will not recognize income, gain or loss
for federal income tax purposes as a result of such Covenant Defeasance and will be subject
to federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such Covenant Defeasance had not occurred;

     (d) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit (other than a Default or Event of Default resulting from the incurrence of
Indebtedness or the grant of Liens securing such Indebtedness, all or a portion of the
proceeds of which will be used to defease the Notes pursuant to this Article 8 concurrently
with such incurrence or within 30 days thereof) or insofar as Events of Default described in
clause (f) or (g) of Section 6.01 are concerned, at any time in the period ending on the
91st day after the day of deposit;

     (e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under, any material agreement or instrument (other
than this Indenture) to which the Company or any of its Subsidiaries is a party or by which
the Company or any of its Subsidiaries is bound;

     (f) the Issuers shall have delivered to the Trustee an Opinion of Counsel (which may be
based on such solvency certificates or solvency opinions as counsel deems necessary or
appropriate) to the effect that after the 91st day following the deposit, the trust funds
will not be subject to the effect of any applicable bankruptcy, insolvency, reorganization
or similar laws affecting creditors’ rights generally;

     (g) the Issuers shall have delivered to the Trustee an Officers’ Certificate stating
that the deposit was not made by the Issuers with the intent of preferring the Holders over
any other creditors of the Issuers or with the intent of defeating, hindering, delaying or
defrauding creditors of the Issuers or others; and

     (h) the Issuers shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for or relating to
the Legal Defeasance or the Covenant Defeasance have been complied with.

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Section 8.05. Deposited Money and Government Securities to be Held in Trust; Other
Miscellaneous Provisions.

     Subject to Section 8.06 hereof, all money and non-callable Government Securities (including
the proceeds thereof) deposited with the Trustee pursuant to Section 8.04 or 8.08 hereof in respect
of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the
provisions of such Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company or any of its Subsidiaries acting as Paying Agent) as the Trustee may
determine, to the Holders of such Notes of all sums due and to become due thereon in respect of
principal, premium, if any, interest and Additional Interest, if any, but such money need not be
segregated from other funds except to the extent required by law.

     The Issuers shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or non-callable Government Securities deposited pursuant to Section
8.04 or 8.08 hereof or the principal and interest received in respect thereof other than any such
tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes.

     Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Issuers from time to time upon the written request of the Issuers any money or non-callable
Government Securities held by it as provided in Section 8.04 or 8.08 hereof which, in the opinion
of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee (which may be the opinion delivered under Section
8.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited to
effect an equivalent Legal Defeasance, Covenant Defeasance or Discharge, as the case may be.

          Section 8.06. Repayment to Issuers.

     Subject to applicable escheat and abandoned property laws, any money or non-callable
Government Securities deposited with the Trustee or any Paying Agent, or then held by an Issuer, in
trust for the payment of the principal of, or premium, if any, interest or Additional Interest, if
any, on, any Note and remaining unclaimed for two years after such principal, premium, interest or
Additional Interest, if any, has become due and payable shall be paid to the Issuers on their
written request or (if then held by an Issuer) shall be discharged from such trust; and the Holder
of such Note shall thereafter, as an unsecured creditor, look only to the Issuers for payment
thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money or
non-callable Government Securities, and all liability of the Issuers as trustee thereof, shall
thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to
make any such repayment, may at the expense of the Issuers cause to be published once, in the New
York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed
and that, after a date specified therein, which shall not be less than 30 days from the date of
such notification or publication, any unclaimed balance of such money then remaining will be repaid
to the Issuers.

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          Section 8.07. Reinstatement.

     If the Trustee or Paying Agent is unable to apply any money or non-callable Government
Securities in accordance with Section 8.05 hereof, by reason of any order or judgment of any court
or governmental authority enjoining, restraining or otherwise prohibiting such application, then
the Issuers’ obligations under this Indenture and the Notes shall be revived and reinstated as
though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the
Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.05
hereof; provided, however, that, if an Issuer makes any payment of principal of, or premium, if
any, interest or Additional Interest, if any, on, any Note following the reinstatement of its
obligations, such Issuer shall be subrogated to the rights of the Holders of such Notes to receive
such payment from the money held by the Trustee or Paying Agent.

          Section 8.08. Discharge.

     This Indenture shall be satisfied and discharged and shall cease to be of further effect as to
all Notes issued hereunder (except for (a) the rights of Holders of outstanding Notes to receive
solely from the trust fund described in clause (b) of this Section 8.08, and as more fully set
forth in such clause (b), payments in respect of the principal of, and premium, if any, interest or
Additional Interest, if any, on, such Notes when such payments are due, (b) the Issuers’
obligations with respect to such Notes under Sections 2.03, 2.04, 2.07, 2.09 and 4.02 hereof and
the Appendix and (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and
the Issuers’ and Guarantors’ obligations in connection therewith), when:

     (1) either:

     (a) all Notes that have been authenticated, except lost, stolen or destroyed Notes that
have been replaced or paid and Notes for whose payment money has been deposited in trust and
thereafter repaid to the Issuers, have been delivered to the Trustee for cancellation; or

     (b) all Notes that have not been delivered to the Trustee for cancellation have become
due and payable or will become due and payable within one year by reason of the mailing of a
notice of redemption or otherwise, and the Issuers or any Guarantor has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in trust solely for the
benefit of the Holders, an amount of cash in U.S. dollars, non-callable Government
Securities that through the payment of interest and principal in accordance with their
terms, or a combination thereof, as will be sufficient without consideration of any
reinvestment of interest, in the opinion of a nationally recognized firm of independent
public accountants, to pay and discharge the entire indebtedness on the Notes not delivered
to the Trustee for cancellation for principal, premium, if any, and accrued interest and
Additional Interest, if any, to the date of fixed maturity or redemption;

     (2) no Default or Event of Default has occurred and is continuing on the date of the deposit
or will occur as a result of the deposit and the deposit will not result in a breach or violation
of, or constitute a default under, any material agreement or instrument (other than this

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Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company
or any of its Subsidiaries is bound;

     (3) the Issuers or any Guarantor has paid or caused to be paid all sums payable by it under
this Indenture;

     (4) the Issuers have delivered irrevocable instructions to the Trustee to apply the deposited
money toward the payment of the Notes at fixed maturity or the redemption date, as the case may be;
and

     (5) the Issuers have delivered an Officers’ Certificate and an Opinion of Counsel to the
Trustee stating that all conditions precedent to satisfaction and discharge of this Indenture
(“Discharge”) have been satisfied.

ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

          Section 9.01. Without Consent of Holders of Notes.

     Notwithstanding Section 9.02 of this Indenture, the Issuers, any Guarantors and the Trustee
may amend or supplement this Indenture or the Notes without the consent of any Holder of a Note:

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

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

     (c) to provide for the assumption of an Issuer’s or Guarantor’s obligations to the
Holders of Notes pursuant to Article 5 hereof;

     (d) to make any change that would provide any additional rights or benefits to the
Holders of the Notes or that does not adversely affect the legal rights hereunder of any
Holder, provided that any change to conform this Indenture to the Offering Memorandum shall
not be deemed to adversely affect the legal rights hereunder of any Holder;

     (e) to secure the Notes pursuant to the requirements of Section 4.07 or otherwise;

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

     (g) to add any Guarantor with respect to the Notes in accordance with Section 4.08
hereof or to evidence the release of any Guarantor from its Subsidiary Guarantee in
accordance with Article 10 hereof;

42

 

     (h) to comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the TIA; or

     (i) to evidence or provide for the acceptance of appointment under this Indenture of a
successor Trustee.

     Upon the request of the Company and upon receipt by the Trustee of the documents described in
Section 9.06 hereof, the Trustee shall join with the Issuers and the Guarantors in the execution of
any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to
make any further appropriate agreements and stipulations that may be therein contained, but the
Trustee shall not be obligated to enter into such amended or supplemental Indenture that affects
its own rights, duties or immunities under this Indenture or otherwise.

          Section 9.02. With Consent of Holders of Notes.

     Except as provided above in Section 9.01 and below in this Section 9.02, the Issuers, any
Guarantors and the Trustee may amend or supplement this Indenture and the Notes may be amended or
supplemented with the consent of the Holders of at least a majority in principal amount of the then
outstanding Notes (including consents obtained in connection with a purchase of, or tender offer or
exchange offer for, Notes), and, subject to Sections 6.04 and 6.07 hereof, any existing Default or
Event of Default or compliance with any provision of this Indenture or the Notes may be waived with
the consent of the Holders of a majority in principal amount of the then outstanding Notes
(including consents obtained in connection with a purchase of, tender offer or exchange offer for
Notes). However, without the consent of each Holder affected, an amendment, supplement or waiver
may not (with respect to any Notes held by a non-consenting Holder):

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

     (b) reduce the principal of or change the fixed maturity of any Note or alter any of the
provisions with respect to the redemption or repurchase of the Notes (except for the provisions of
Section 4.10 hereof);

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

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

     (e) make any Note payable in money other than that stated in the Notes;

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

43

 

     (g) waive a redemption or repurchase payment with respect to any Note (other than a payment
required by Section 4.10 hereof);

     (h) release any Guarantor from any of its obligations under its Subsidiary Guarantee or this
Indenture, except in accordance with the terms of this Indenture; or

     (i) make any change in the preceding amendment, supplement and waiver provisions.

     Upon the request of the Issuers accompanied by Board Resolutions authorizing their execution
of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence
satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt
by the Trustee of the documents described in Section 9.06 hereof, the Trustee shall join with the
Issuers and the Guarantors in the execution of such amended or supplemental indenture, unless such
amended or supplemental indenture affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated
to, enter into such amended or supplemental indenture.

     It shall not be necessary for the consent of the Holders of Notes under this Section 9.02 to
approve the particular form of any proposed amendment, supplement or waiver, but it shall be
sufficient if such consent approves the substance thereof.

     After an amendment, supplement or waiver under this Section becomes effective, the Company
shall mail to the Holders of Notes affected thereby a notice briefly describing the amendment,
supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such amended or supplemental
Indenture or waiver.

          Section 9.03. Compliance with Trust Indenture Act.

     Every amendment or supplement to this Indenture or the Notes shall be set forth in an amended
or supplemental Indenture that complies with the TIA as then in effect.

     A consent to any amendment, supplement or waiver under this Indenture by any Holder given in
connection with a purchase, tender or exchange of such Holder’s Notes shall not be rendered invalid
by such purchase, tender or exchange.

          Section 9.04. Revocation and Effect of Consents.

     Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a
Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or
portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of
the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation
before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or
waiver becomes effective in accordance with its terms and thereafter binds every Holder.

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     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to consent to any amendment, supplement or waiver. If a record
date is fixed, then notwithstanding the last sentence of the immediately preceding paragraph, those
Persons who were Holders at such record date (or their duly designated proxies), and only those
Persons, shall be entitled to consent to such amendment or waiver or revoke any consent previously
given, whether or not such Persons continue to be Holders after such record date. No consent shall
be valid or effective for more than 90 days after such record date except to the extent that the
requisite number of consents to the amendment, supplement or waiver have been obtained within such
90-day period or as set forth in the next paragraph of this Section 9.04.

     After an amendment, supplement or waiver becomes effective, it shall bind every Holder, unless
it makes a change described in any of clauses (a) through (i) of Section 9.02, in which case, the
amendment, supplement or waiver shall bind only each Holder of a Note who has consented to it and
every subsequent Holder of a Note or portion of a Note that evidences the same indebtedness as the
consenting Holder’s Note.

          Section 9.05. Notation on or Exchange of Notes.

     The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Note thereafter authenticated. The Issuers, in exchange for all Notes, may issue and the Trustee
shall authenticate new Notes that reflect the amendment, supplement or waiver.

     Failure to make the appropriate notation or issue a new Note shall not affect the validity and
effect of such amendment, supplement or waiver.

          Section 9.06. Trustee to Sign Amendments, Etc.

     The Trustee shall sign any amended or supplemental indenture authorized pursuant to this
Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities
or immunities of the Trustee under this Indenture or otherwise. In executing any amended or
supplemental indenture, the Trustee shall be entitled to receive and (subject to Section 7.01)
shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel
stating that the execution of such amended or supplemental indenture is authorized or permitted by
this Indenture.

ARTICLE 10

GUARANTEES OF NOTES

          Section 10.01. Subsidiary Guarantees.

     Subject to this Article 10, each of the Persons who shall become a Guarantor pursuant to
Section 4.08 hereof thereby, jointly and severally, unconditionally guarantees as provided in this
Article 10 and on a senior unsecured basis, to each Holder of a Note authenticated and delivered by
the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and
enforceability of this Indenture, the Notes held thereby and the Obligations of the Issuers
hereunder and thereunder, that: (a) the principal of, premium, if any, interest and Additional
Interest, if any, on, the Notes will be promptly paid in full when due, subject to any applicable

45

 

grace period, whether at Stated Maturity, by acceleration, upon repurchase, redemption or
otherwise, and interest on the overdue principal of premium, if any, and (to the extent permitted
by law) interest and Additional Interest, if any, on, the Notes, and all other payment Obligations
of the Issuers to the Holders or the Trustee hereunder or thereunder will be promptly paid in full
and performed, all in accordance with the terms hereof and thereof; and (b) in case of any
extension of time of payment or renewal of any Notes or any of such other Obligations, the same
will be promptly paid in full when due or performed in accordance with the terms of the extension
or renewal, subject to any applicable grace period, whether at Stated Maturity, by acceleration,
upon repurchase, redemption or otherwise. Failing payment when so due of any amount so guaranteed
for whatever reason, the Guarantors will be jointly and severally obligated to pay the same
immediately. An Event of Default under this Indenture or the Notes shall constitute an event of
default under the Subsidiary Guarantees, and shall entitle the Holders to accelerate the
obligations of the Guarantors hereunder in the same manner and to the same extent as the
Obligations of the Issuers.

     The Guarantors hereby agree that their obligations hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the
absence of any action to enforce the same, any waiver or consent by any Holder with respect to any
provisions hereof or thereof, the recovery of any judgment against an Issuer, any action to enforce
the same or any other circumstance (other than complete performance) which might otherwise
constitute a legal or equitable discharge or defense of a Guarantor. Each Guarantor further, to
the extent permitted by law, hereby waives diligence, presentment, demand of payment, filing of
claims with a court in the event of insolvency or bankruptcy of an Issuer, any right to require a
proceeding first against an Issuer, protest, notice and all demands whatsoever and covenants that
its Subsidiary Guarantee is a guarantee of payment and not of collection and will not be discharged
except by complete performance of the Obligations contained in the Notes and this Indenture.

     If any Holder or the Trustee is required by any court or otherwise to return to an Issuer, the
Guarantors, or any Custodian, Trustee or other similar official acting in relation to any of the
Issuers or the Guarantors, any amount paid by an Issuer or any Guarantor to the Trustee or such
Holder, the Subsidiary Guarantees, to the extent theretofore discharged, shall be reinstated in
full force and effect. Each Guarantor agrees that it shall not be entitled to, and hereby waives,
any right of subrogation in relation to the Holders in respect of any Obligations guaranteed
hereby.

     Each Guarantor further agrees that, as between the Guarantors, on the one hand, and the
Holders and the Trustee, on the other hand, (a) the maturity of the Obligations guaranteed hereby
may be accelerated as provided in Article 6 hereof for the purposes of its Subsidiary Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect
of the Obligations guaranteed thereby, and (b) in the event of any declaration of acceleration of
such Obligations as provided in Article 6 hereof, such Obligations (whether or not due and payable)
shall forthwith become due and payable by the Guarantor for the purpose of its Subsidiary
Guarantee. The Guarantors shall have the right to seek contribution from any non-paying Guarantor
so long as the exercise of such right does not impair the rights of the Holders under the
Subsidiary Guarantees.

46

 

          Section 10.02. Releases of Subsidiary Guarantees.

     The Subsidiary Guarantee of a Guarantor shall be released: (1) in connection with any sale or
other disposition of all or substantially all of the properties or assets of such Guarantor
(including by way of merger or consolidation) to a Person that is not (either before or after
giving effect to such transaction) a Subsidiary of the Company; (2) in connection with any sale or
other disposition of all of the Capital Stock of such Guarantor to a Person that is not (either
before or after giving effect to such transaction) a Subsidiary of the Company; (3) if the
provisions of Section 4.08 shall terminate in accordance with Section 4.13 of this Indenture; (4)
upon Legal Defeasance or Covenant Defeasance or Discharge in accordance with Article 8; or (5) at
such time as such Guarantor ceases to guarantee any other Indebtedness of either of the Issuers and
any Indebtedness of any other Guarantor, provided that it is then no longer an obligor with respect
to any Indebtedness in excess of $50.0 million in aggregate principal amount.

     Upon delivery by the Company to the Trustee of an Officers’ Certificate to the effect that any
of the conditions described in the foregoing clauses (1) – (5) has occurred, the Trustee shall
execute any documents reasonably requested by the Company in order to evidence the release of any
Guarantor from its obligations under its Subsidiary Guarantee. Any Guarantor not released from its
obligations under its Subsidiary Guarantee shall remain liable for the full amount of principal of,
and premium, if any, interest and Additional Interest, if any, on, the Notes and for the other
obligations of such Guarantor under this Indenture as provided in this Article 10.

          Section 10.03. Limitation on Guarantor Liability.

     The obligations of each Guarantor under its Subsidiary Guarantee will be limited to the
maximum amount as will, after giving effect to all other contingent and fixed liabilities of such
Guarantor and after giving effect to any collections from or payments made by or on behalf of any
other Guarantor in respect of the obligations of such other Guarantor under its Subsidiary
Guarantee or pursuant to its contribution obligations under this Indenture, result in the
obligations of such Guarantor under its Subsidiary Guarantee not constituting a fraudulent
conveyance or fraudulent transfer under federal or state law and not otherwise being void or
voidable under any similar laws affecting the rights of creditors generally.

          Section 10.04. Notation of Subsidiary Guarantee.

     Nothing herein shall require that the Notes bear a notation evidencing any Subsidiary
Guarantee and the failure of a Note to bear such a notation shall not impair or affect the validity
of any Subsidiary Guarantee.

ARTICLE 11

MISCELLANEOUS

          Section 11.01. Trust Indenture Act Controls.

     If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by
TIA §318(c), such TIA-imposed duties shall control.

47

 

          Section 11.02. Notices.

     Any notice or communication by an Issuer, any Guarantor or the Trustee to the others is duly
given if in writing (in the English language) and delivered in person or mailed by first class mail
(registered or certified, return receipt requested), telecopier or overnight air courier
guaranteeing next day delivery, to the others’ address:

     If to any of the Issuers or any Guarantor:

Williams Partners L.P.

One Williams Center

Tulsa, Oklahoma 74172-0172

Attention: Chief Financial Officer

Telecopier No.: (918) 573-0871

     If to the Trustee:

The Bank of New York

101 Barclay Street, Floor 21 West

New York, New York 10286

Attention: Global Corporate Trust

Telecopier No.: (212) 815-3455

     An Issuer, any Guarantor or the Trustee, by notice to the others, may designate additional or
different addresses for subsequent notices or communications.

     All notices and communications (other than those sent to Holders) shall be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if telecopied; and
the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery in each case to the address shown above.

     Any notice or communication to a Holder shall be mailed by first class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to
its address shown on the register kept by the Registrar. Any notice or communication shall also be
so mailed to any Person described in TIA § 313(c), to the extent required by the TIA. Failure to
mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency
with respect to other Holders.

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

     If either of the Issuers mails a notice or communication to Holders, it shall mail a copy to
the Trustee and each Agent at the same time.

48

 

          Section 11.03. Communication by Holders of Notes with Other Holders of Notes.

     Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their
rights under this Indenture or the Notes. The Issuers, the Trustee, the Registrar and anyone else
shall have the protection of TIA § 312(c).

          Section 11.04. Certificate and Opinion as to Conditions Precedent.

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

     (a) an Officers’ Certificate in form reasonably satisfactory to the Trustee (which
shall include the statements set forth in Section 11.05 hereof) stating that, in the opinion
of the signers, all conditions precedent and covenants, if any, provided for in this
Indenture relating to the proposed action have been satisfied; and

     (b) an Opinion of Counsel in form reasonably satisfactory to the Trustee (which shall
include the statements set forth in Section 11.05 hereof) stating that, in the opinion of
such counsel, all such conditions precedent and covenants have been satisfied.

          Section 11.05. Statements Required in Certificate or Opinion.

     Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to Section 4.04 or TIA §
314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include:

     (a) a statement that the person making such certificate or opinion has read such
covenant or condition;

     (b) 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;

     (c) a statement that, in the opinion of such person, he or she 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 satisfied; and

     (d) a statement as to whether or not, in the opinion of such person, such condition or
covenant has been satisfied.

49

 

          Section 11.06. Rules by Trustee and Agents.

     The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

          Section 11.07. No Personal Liability.

     Neither the General Partner nor any present or future director, officer, partner, employee,
incorporator, manager or owner of Capital Stock of the General Partner, as such, shall have any
liability for any obligations of the Issuers or any Guarantor under the Notes, the Subsidiary
Guarantees or this Indenture or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all
such liability. The waiver and release are part of the consideration for issuance of the Notes.

     Notwithstanding the foregoing, nothing in the preceding paragraph shall be construed to modify
or supersede any obligation of the General Partner to restore any negative balance in its capital
account (maintained by the Company pursuant to the Limited Partnership Agreement) upon liquidation
of its interest in the Company.

          Section 11.08. Governing Law.

     THIS INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK.

          Section 11.09. No Adverse Interpretation of Other Agreements.

     This Indenture may not be used to interpret any other indenture, loan or debt agreement of the
Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may
not be used to interpret this Indenture.

          Section 11.10. Successors.

     All agreements of the Issuers and any Guarantors in this Indenture and the Notes shall bind
their respective successors. All agreements of the Trustee in this Indenture shall bind its
successors.

          Section 11.11. Severability.

     In case any provision in this Indenture or in the Notes 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 11.12. 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 of
this Indenture and shall in no way modify or restrict any of the terms or provisions hereof.

50

 

          Section 11.13. Joint and Several Liability.

     The Obligations of the Issuers under this Indenture and the Notes shall be joint and several.

          Section 11.14. Counterparts.

     This Indenture may be signed in counterparts and by the different parties hereto in separate
counterparts, each of which shall constitute an original and all of which together shall constitute
one and the same instrument.

[Signatures on following page]

51

 

SIGNATURES

	 	 	 	 	 
	 	WILLIAMS PARTNERS L.P.

 	 
	 	By:  	 Williams Partners GP LLC,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	     /s/ Rodney J. Sailor
 	 
	 	 	Rodney J. Sailor 	 
	 	 	Treasurer 	 
	 
	 	WILLIAMS PARTNERS FINANCE

CORPORATION

 	 
	 	By:  	/s/ Rodney J. Sailor
 	 
	 	 	Rodney J. Sailor 	 
	 	 	Treasurer 	 
	 
	 	THE BANK OF NEW YORK,

as Trustee

 	 
	 	By:  	/s/ Joanne Adamis
 	 
	 	 	Joanne Adamis 	 
	 	 	Vice President 	 

52

 

	 	 	 	 	 

RULE 144A/REGULATION S APPENDIX

PROVISIONS RELATING TO INITIAL NOTES

AND EXCHANGE NOTES

1. Definitions

     1.1 Definitions.

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

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

     “Exchange Notes” means (1) the 71/4% Senior Notes due 2017 issued pursuant to the Indenture in
connection with a Registered Exchange Offer pursuant to a Registration Rights Agreement and (2)
Additional Notes, if any, issued pursuant to a registration statement filed with the SEC under the
Securities Act.

     “Initial Notes” means (1) $600.0 million aggregate principal amount of 71/4% Senior Notes due
2017 issued on the Initial Issuance Date and (2) Additional Notes, if any, issued in a transaction
exempt from the registration requirements of the Securities Act.

     “Initial Purchasers” means (1) with respect to the Initial Notes issued on the Initial
Issuance Date, Citigroup Global Markets Inc., Lehman Brothers Inc., Merrill Lynch, Pierce, Fenner &
Smith Incorporated, Scotia Capital (USA) Inc., ABN AMRO Incorporated, Banc of America Securities,
LLC, BNP Paribas Securities Corp., Calyon Securities (USA) Inc., Greenwich Capital Markets, Inc.,
TD Securities (USA) LLC, and The William Capital Group, L.P., and (2) with respect to each issuance
of Additional Notes, the Persons purchasing such Additional Notes under the related Purchase
Agreement.

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

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

     “Purchase Agreement” means (1) with respect to the Initial Notes issued on the Initial
Issuance Date, the Purchase Agreement dated December 6, 2006 among the Issuers and the related
Initial Purchasers, and (2) with respect to each issuance of Additional Notes, the purchase
agreement or underwriting agreement among the Issuers and the Persons purchasing such Additional
Notes.

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

App. - 1 

 

     “Registration Rights Agreement” means (1) with respect to the Initial Notes issued on the
Initial Issuance Date, the Registration Rights Agreement dated December 13, 2006 among the Issuers
and the Initial Purchasers, a form of which is attached to this Indenture as Annex B, and (2) with
respect to each issuance of Additional Notes issued in a transaction exempt from the registration
requirements of the Securities Act, the registration rights agreement, if any, among the Issuers
and the Persons purchasing such Additional Notes under the related Purchase Agreement.

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

     “Transfer Restricted Securities” means Notes that bear or are required to bear the legend set
forth in Section 2.3(b) hereof.

     1.2 Other Definitions.

	 	 	 	 	 
	Term	 	Defined in Section:
	“Agent Members”

	 	 	2.1	(b)
	“Distribution Compliance Period”

	 	 	2.1	(b)
	“Global Note”

	 	 	2.1	(a)
	“Regulation S”

	 	 	2.1	(a)
	“Regulation S Notes”

	 	 	2.1	(a)
	“Restricted Global Note”

	 	 	2.1	(a)
	“Rule 144A”

	 	 	2.1	(a)
	“Rule 144A Notes”

	 	 	2.1	(a)

2. The Notes.

     2.1 (a) Form and Dating. Initial Notes offered and sold to QIBs in reliance on Rule
144A (“Rule 144A Notes”) under the Securities Act (“Rule 144A”) or in reliance on Regulation S
(“Regulation S Notes”) under the Securities Act (“Regulation S”), in each case as provided in a
Purchase Agreement, shall be issued initially in the form of one or more permanent global Notes in
definitive, fully registered form without interest coupons with the global Notes legend and
restricted Notes legend set forth in Exhibit 1 hereto (each, a “Restricted Global Note”), which
shall be deposited on behalf of the purchasers of the Initial Notes represented thereby with the
Trustee, as custodian for the Depository (or with such other custodian as the Depository may
direct), and registered in the name of the Depository or a nominee of the Depository, duly executed
by the Issuers and authenticated by the Trustee as hereinafter provided. Beneficial interests in a
Restricted Global Note representing Initial Notes sold in reliance on either Rule 144A or
Regulation S may be held through Euroclear or Clearstream, as indirect participants in the
Depository. The aggregate principal amount of the Global Notes may from time to time be increased
or decreased by adjustments made on the records of the Trustee and the Depository or its nominee as
hereinafter provided. Exchange Notes shall be issued in global form (with the global Notes legend
set forth in Exhibit 1 hereto) or in certificated form as

App. - 2 

 

provided in Section 2.4 of this Appendix. Exchange Notes issued in global form and Restricted
Global Notes are sometimes referred to in this Appendix as “Global Notes”.

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

     The Issuers shall execute and the Trustee shall, in accordance with this Section 2.1(b),
authenticate and deliver initially one or more Global Notes that (a) shall be registered in the
name of the Depository for such Global Note or Global Notes or the nominee of such Depository and
(b) shall be delivered by the Trustee to such Depository or pursuant to such Depository’s
instructions or held by the Trustee as custodian for the Depository. If such Global Notes are
Restricted Global Notes, then separate Global Notes shall be issued to represent Rule 144A Notes
and Regulation S Notes so long as required by law or the Depository.

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

     Until the 40th day after the later of the commencement of the offering of any Initial Notes
and the original issue date of such Initial Notes (such period, the “Distribution Compliance
Period”), a beneficial interest in a Restricted Global Note representing Regulation S Notes may be
transferred to a Person who takes delivery in the form of an interest in a Restricted Global Note
representing Rule 144A Notes only if the transferor first delivers to the Trustee a written
certificate (in the form provided in the assignment form contained in Exhibit 1 hereto) to the
effect that such transfer is being made to a Person who the transferor reasonably believes is
purchasing for its own account or for the account of a QIB to whom notice is given that such
transfer is being made in reliance on Rule 144A, in each case in a transaction meeting the
requirements of Rule 144A and in accordance with any applicable securities laws of any state of the
United States or any other jurisdiction. After the expiration of the Distribution Compliance
Period, such certification requirements shall not apply to such transfers of beneficial interests
in a Restricted Global Note representing Regulation S Notes.

     The Issuers shall give the Trustee notice of the termination date of a Distribution Compliance
Period promptly after the original issuance of any Initial Notes hereunder.

     Beneficial interests in a Restricted Global Note representing Rule 144A Notes may be
transferred to a Person who takes delivery in the form of an interest in a Restricted Global Note
representing Regulation S Notes, whether before or after the expiration of the Distribution
Compliance Period, only if the transferor first delivers to the Trustee a written certificate (in
the form provided in the assignment form contained in Exhibit 1 hereto) to the effect that such
transfer is being made in accordance with Rule 904 of Regulation S or Rule 144 (if available).

App. - 3 

 

     (c) Certificated Notes. Except as provided in Section 2.3 or 2.4, owners of
beneficial interests in Global Notes shall not be entitled to receive physical delivery of
certificated Notes. Certificated Notes shall not be exchangeable for beneficial interests in
Global Notes.

     2.2 Authentication. The Trustee shall authenticate and deliver: (1) on the Initial
Issuance Date, an aggregate principal amount of $600.0 million of 71/4% Senior Notes due 2017, (2)
any Additional Notes for an original issue in an aggregate principal amount specified in the
written order of the Issuers pursuant to Section 2.02 of the Indenture and (3) Exchange Notes for
issue only in a Registered Exchange Offer, pursuant to a Registration Rights Agreement, for a like
principal amount of Initial Notes, in each case upon a written order of the Issuers signed on
behalf of each Issuer by an Officer thereof. Such order shall specify the amount of the Notes to
be authenticated, the date on which the original issue of Notes is to be authenticated and to whom
the Notes shall be registered and delivered.

     2.3 Transfer and Exchange.

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

     (ii) Notwithstanding any other provisions of this Appendix, a Global Note may not be
transferred as a whole except by the Depository to a nominee of the Depository or by a
nominee of the Depository to the Depository or another nominee of the Depository or by the
Depository or any such nominee to a successor Depository or a nominee of such successor
Depository.

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

App. - 4 

 

(b) Legend.

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

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS NOTE NOR ANY INTEREST OR
PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS
EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE
HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER
SUCH NOTE, PRIOR TO THE DATE WHICH IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE
HEREOF AND THE LAST DATE ON WHICH AN ISSUER OR ANY AFFILIATE OF AN ISSUER WAS THE OWNER OF
THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) (THE “RESALE RESTRICTION TERMINATION DATE”) ONLY
(A) TO AN ISSUER OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS
OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN
THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES
TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S
UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUERS’ AND THE TRUSTEE’S
RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (i) PURSUANT TO CLAUSE (D) PRIOR TO THE END
OF THE 40 DAY DISTRIBUTION COMPLIANCE PERIOD WITHIN THE MEANING OF REGULATION S UNDER THE
SECURITIES ACT OR PURSUANT TO CLAUSE (E) PRIOR TO THE RESALE RESTRICTION TERMINATION DATE TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM, AND (ii) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A
CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THIS NOTE IS COMPLETED AND DELIVERED BY THE
TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF A HOLDER AFTER
THE RESALE RESTRICTION TERMINATION DATE.

App. - 5 

 

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

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

     (iv) Upon the consummation of a Registered Exchange Offer with respect to the Initial
Notes, Exchange Notes in certificated or global form will be available to Holders that
exchange such Initial Notes in such Registered Exchange Offer, in each case without the
restrictive transfer legend prescribed in the preceding paragraph (i).

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

     (d) Obligations with Respect to Transfers and Exchanges of Notes.

     (i) To permit registrations of transfers and exchanges, the Issuers shall execute and
the Trustee shall authenticate certificated Notes and Global Notes at the Registrar’s
request.

     (ii) No service charge shall be made for any registration of transfer or exchange, but
the Issuers may require payment of a sum sufficient to cover any transfer tax, assessments
or similar governmental charge payable in connection therewith (other than any such transfer
taxes, assessments or similar governmental charge payable upon exchange pursuant to Sections
3.06, 4.10 and 9.05 and of the Indenture).

     (iii) The Registrar shall not be required to register the transfer of or exchange of
any Note or portion of a Note selected for redemption, except for the unredeemed portion of
any Note being redeemed in part. Also, it need not exchange or register the transfer of any
Notes for a period of 15 days before mailing notice of any redemption of the Notes.

App. - 6 

 

     (iv) Prior to the due presentation for registration of transfer of any Note, the
Issuers, the Guarantors, the Trustee, the Paying Agent or the Registrar may deem and treat
the Person in whose name a Note is registered as the absolute owner of such Note for the
purpose of receiving payment of principal of, premium, if any, and (subject to the record
date provisions of the Notes) interest and Additional Interest, if any, on, such Note and
for all other purposes whatsoever, whether or not such Note is overdue, and none of the
Issuers, the Guarantors, the Trustee, the Paying Agent or the Registrar shall be affected by
notice to the contrary.

     (v) All Notes issued upon any registration of transfer or exchange pursuant to the
terms of this Indenture shall evidence the same debt and shall be entitled to the same
benefits under this Indenture as the Notes surrendered upon such registration of transfer or
exchange.

     (e) No Obligation of the Trustee.

     (i) The Trustee shall have no responsibility or obligation to any beneficial owner of a
Global Note, a member of, or a participant in the Depository or other Person with respect to
the accuracy of the records of the Depository or its nominee or of any participant or member
thereof, with respect to any ownership interest in the Notes or with respect to the delivery
to any participant, member, beneficial owner or other Person (other than the Depository) of
any notice (including any notice of optional redemption) or the payment of any amount, under
or with respect to such Notes. All notices and communications to be given to the Holders
and all payments to be made to Holders under the Notes shall be given or made only to or
upon the order of the registered Holders (which shall be the Depository or its nominee in
the case of a Global Note). The rights of beneficial owners in any Global Note shall be
exercised only through the Depository subject to the applicable rules and procedures of the
Depository. The Trustee may rely and shall be fully protected in relying upon information
furnished by the Depository with respect to its members, participants and any beneficial
owners.

     (ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as
to compliance with any restrictions on transfer imposed under this Indenture or under
Applicable Law with respect to any transfer of any interest in any Note (including any
transfers between or among Depository participants, members or beneficial owners in any
Global Note) 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.

     2.4 Certificated Notes.

     (a) Notwithstanding any other provision hereof, a Global Note shall be transferred to the
beneficial owners thereof in the form of certificated Notes in an aggregate principal amount equal
to the principal amount of such Global Note, in exchange for such Global Note, only if such
transfer complies with Section 2.3 and (i) the Depository notifies the Issuers that it is unwilling
or unable to continue as Depository for such Global Note or if at any time such Depository ceases
to be a “clearing agency” registered under the Exchange Act and in either event a successor
depositary is not appointed by the Issuers within 90 days, or (ii) an Event of

App. - 7 

 

Default has occurred and is continuing and the Depository notifies the Trustee of its decision
to exchange the Global Notes.

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

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

     (d) In the event of the occurrence of any of the events specified in Section 2.4(a), the
Issuers shall promptly make available to the Trustee a reasonable supply of certificated Notes in
definitive, fully registered form without interest coupons.

App. - 8 

 

EXHIBIT 1 TO RULE 144A/REGULATION S APPENDIX

[FORM OF FACE OF INITIAL NOTE]

[Global Notes Legend]

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO AN ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

     TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC,
TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS
OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

[Restricted Notes Legend]

     THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS NOTE NOR ANY INTEREST OR
PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT
SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER OF THIS NOTE BY ITS
ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH NOTE, PRIOR TO THE DATE WHICH IS
TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH AN ISSUER OR
ANY AFFILIATE OF AN ISSUER WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) (THE
“RESALE RESTRICTION TERMINATION DATE”) ONLY (A) TO AN ISSUER OR ANY SUBSIDIARY THEREOF, (B)
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE
NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A
PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT
PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE
IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES
TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED

Ex. 1 to App. - 1 

 

STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE
ISSUERS’ AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (i) PURSUANT TO CLAUSE
(D) PRIOR TO THE END OF THE 40 DAY DISTRIBUTION COMPLIANCE PERIOD WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT OR PURSUANT TO CLAUSE (E) PRIOR TO THE RESALE RESTRICTION TERMINATION
DATE TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM, AND (ii) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A
CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THIS NOTE IS COMPLETED AND DELIVERED BY THE
TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF A HOLDER AFTER THE
RESALE RESTRICTION TERMINATION DATE.

Ex. 1 to App. - 2 

 

WILLIAMS PARTNERS L.P.

WILLIAMS PARTNERS FINANCE CORPORATION

71/4% Senior Note due 2017

	 	 	 
	No.

	 	$               
	 

	 	CUSIP No. ___
	 

	 	ISIN No. ___

     Williams Partners L.P., a Delaware limited partnership, and Williams Partners Finance
Corporation, a Delaware corporation, jointly and severally promise to pay to                     , or
registered assigns, the principal sum of                      Dollars [or such greater or lesser amount as may
be indicated on Schedule A hereto]1 on February 1, 2017.

     Interest Payment Dates: February 1 and August 1.

     Record Dates: January 15 and July 15.

     Additional provisions of this Note are set forth on the other side of this Note.

	 	 	 	 	 
	 	WILLIAMS PARTNERS L.P.

 	 
	 	By:  	Williams Partners GP LLC,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 
	 	WILLIAMS PARTNERS 

FINANCE CORPORATION

 	 
	 	By:  	
 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

 

			
	1  If this Note is a Global Note, add this provision.

Ex. 1 to App. - 3 

 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

THE BANK OF NEW YORK,

as Trustee, certifies that

this is one of the Notes

referred to in the Indenture.

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	 

	 	Authorized Signatory	 	 

Dated:

Ex. 1 to App. - 4 

 

[FORM OF REVERSE SIDE OF INITIAL NOTE]

71/4% Senior Note due 2017

     Capitalized terms used herein but not defined shall have the meanings assigned to them in the
Indenture referred to below unless otherwise indicated.

     1. Interest. Williams Partners L.P., a Delaware limited partnership (the “Company”),
and Williams Partners Finance Corporation, a Delaware corporation (the “Finance Corp.” and,
together with the Company, the “Issuers”), jointly and severally promise to pay interest on the
principal amount of this Note at 71/4% per annum from December 13, 2006 until maturity and shall pay
any Additional Interest payable pursuant to Section 5 of the Registration Rights Agreement referred
to below. The Issuers will pay interest and Additional Interest, if any, semi-annually in arrears
on February 1 and August 1 of each year (each an “Interest Payment Date”), commencing August 1,
2007, or if any such day is not a Business Day, on the next succeeding Business Day. Interest on
the Notes will accrue from the most recent date to which interest has been paid or duly provided
for or, if no interest has been paid or duly provided for, from the date of original issuance;
provided that if there is no existing Default or Event of Default in the payment of interest, and
if this Note is authenticated between a record date referred to on the face hereof and the next
succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment
Date, except in the case of the original issuance of Notes, in which case interest shall accrue
from the date of original issuance. The Issuers shall pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from
time to time on demand at a rate that is the rate then in effect with respect to this Note; they
shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on
overdue installments of interest and Additional Interest (without regard to any applicable grace
periods) from time to time on demand at the same rate to the extent lawful. Interest will be
computed on the basis of a 360-day year of twelve 30-day months.

     2. Method of Payment. The Issuers will pay interest on the Notes (except defaulted
interest) and Additional Interest to the Persons who are registered Holders of Notes on the January
15 or July 15 next preceding the Interest Payment Date whether or not a Business Day, even if such
Notes are cancelled after such record date and on or before such Interest Payment Date, except as
provided in Section 2.11 of the Indenture with respect to defaulted interest. Holders must
surrender Notes to the Paying Agent to collect payments of principal, and premium, if any, together
with accrued and unpaid interest and Additional Interest, if any, due at maturity (unless the date
of maturity is an Interest Payment Date). The Notes will be payable as to principal, premium, if
any, interest and Additional Interest, if any, at the office or agency of the Issuers maintained
for such purpose within the City and State of New York, or, at the option of the Issuers, payment
of interest and Additional Interest may be made by check mailed to the Holders at their addresses
set forth in the register of Holders, and provided that payment by wire transfer of immediately
available funds will be required with respect to any amounts due on all Global Notes and all other
Notes the Holders of which shall have provided wire transfer instructions to the Paying Agent at
least 15 days prior to the applicable payment date. Such payment shall be in such coin or currency
of the United States of America as at the time of payment is legal tender for payment of public and
private debts.

Ex. 1 to App. - 5 

 

     3. Paying Agent and Registrar. Initially, The Bank of New York, the Trustee under the
Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or
Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such
capacity.

     4. Indenture. The Issuers issued the Notes under an Indenture dated as of December
13, 2006 (“Indenture”) among the Issuers and the Trustee. The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture
Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms,
and Holders are referred to the Indenture and such Act for a statement of such terms. The Notes
are unsecured senior obligations of the Issuers limited to $600,000,000 aggregate principal amount
in the case of Notes issued on the Initial Issuance Date (as defined in the Indenture).

     5. Optional Redemption.

     (a) Except as set forth in subparagraph (b) of this Paragraph 5, the Issuers shall not have
the option to redeem the Notes.

     (b) At any time or from time to time, the Issuers may redeem all or part of the Notes upon not
less than 30 nor more than 60 days’ notice, at a redemption price equal to the sum of (1) the
principal amount thereof, plus (2) accrued and unpaid interest, if any, to the redemption date
(subject to the right of Holders of record on the relevant record date to receive interest due on
an interest payment date that is on or prior to the redemption date), plus (3) the Make Whole
Premium at the redemption date.

     6. Mandatory Redemption.

     Except as set forth in Paragraph 7 below, neither of the Issuers shall be required to make
mandatory redemption or sinking fund payments with respect to the Notes or to repurchase the Notes
at the option of the Holders.

     7. Repurchase at Option of Holder Upon Change of Control.

     Unless the Company and its Subsidiaries are no longer subject to the provisions of Section
4.10 of the Indenture, within 30 days following the occurrence of a Change of Control, the Company
shall make an offer (a “Change of Control Offer”) to repurchase all or any part (equal to $2,000 or
an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price equal
to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest
and Additional Interest, if any, to the date of settlement (the “Change of Control Settlement
Date”), subject to the right of Holders of record on the relevant record date to receive interest
due on an Interest Payment Date that is on or prior to the Change of Control Settlement Date.
Within 30 days following a Change of Control, the Company shall mail a notice of the Change of
Control Offer to each Holder and the Trustee describing the transaction that constitutes the Change
of Control and setting forth the procedures governing the Change of Control Offer as required by
Section 4.10 of the Indenture.

Ex. 1 to App. - 6 

 

     8. Notice of Redemption. Notice of redemption will be mailed at least 30 days but not
more than 60 days (except as otherwise provided in the Indenture if the notice is issued in
connection with a Legal Defeasance, Covenant Defeasance or Discharge) before the redemption date to
each Holder whose Notes are to be redeemed at its registered address. If mailed in the manner
provided for in Section 3.03 of the Indenture, the notice of optional redemption shall be
conclusively presumed to have been given whether or not a Holder receives such notice. Failure to
give timely notice or any defect in the notice as to any particular Holder shall not affect the
validity of the redemption as to other Holders. Notes in denominations larger than $2,000 may be
redeemed in part but only in whole multiples of $1,000. On and after the redemption date interest
and Additional Interest, if any, cease to accrue on Notes or portions thereof called for
redemption.

     9. Potential Subsidiary Guarantees. Subject to the conditions set forth in Section
4.08 of the Indenture, the payment by the Issuers of the principal of, and premium, if any,
interest and Additional Interest, if any, on, the Notes will be fully and unconditionally
guaranteed on a joint and several senior unsecured basis by each of the Guarantors to the extent
set forth in the Indenture.

     10. Denominations, Transfer, Exchange. The Notes are in registered form without
coupons in denominations of integral multiples of $1,000, with a minimum denomination of $2,000.
The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture.
The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents, and the Company may require a Holder to pay any taxes due on
transfer or exchange. The Issuers need not exchange or register the transfer of any Note or
portion of a Note selected for redemption, except for the unredeemed portion of any Note being
redeemed in part. Also, they need not exchange or register the transfer of any Notes for a period
of 15 days before a selection of Notes to be redeemed.

     11. Persons Deemed Owners. The registered Holder of a Note may be treated as its
owner for all purposes.

     12. Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture or
the Notes may be amended or supplemented with the consent of the Holders of at least a majority in
principal amount of the then outstanding Notes, and any existing default or compliance with any
provision of the Indenture or the Notes may be waived with the consent of the Holders of a majority
in principal amount of the then outstanding Notes. Without the consent of any Holder of a Note,
the Indenture or the Notes may be amended or supplemented (1) to cure any ambiguity, defect or
inconsistency, (2) to provide for uncertificated Notes in addition to or in place of certificated
Notes, (3) to provide for the assumption of an Issuer’s or Guarantor’s obligations to Holders of
the Notes pursuant to Article 5 of the Indenture, (4) to make any change that would provide any
additional rights or benefits to the Holders of the Notes or that does not adversely affect the
legal rights under the Indenture of any such Holder, provided that any change to conform the
Indenture to the Offering Memorandum shall not be deemed to adversely affect the legal rights under
the Indenture of any Holder, (5) to secure the Notes pursuant to Section 4.07 of the Indenture or
otherwise, (6) to provide for the issuance of Additional Notes in accordance with the limitations
set forth in the Indenture, (7) to add any Guarantor with respect to the Notes or to evidence the
release of any Guarantor from its

Ex. 1 to App. - 7 

 

Subsidiary Guarantee, in each case as provided in the Indenture, (8) to comply with the
requirements of the SEC in order to effect or maintain the qualification of the Indenture under the
Trust Indenture Act or (9) to evidence or provide for the acceptance of appointment under the
Indenture of a successor Trustee.

     13. Defaults and Remedies. Events of Default include: (i) default for 30 days in the
payment when due of interest or Additional Interest, if any, on the Notes; (ii) default in payment
of the principal of, or premium, if any, the Notes when due at Stated Maturity, upon required
repurchase, upon optional redemption, declaration or otherwise; (iii) failure by the Company to
comply with Section 4.10 of the Indenture; (iv) failure by the Company for 60 days after its
receipt of written notice as specified in the Indenture to comply with any of its other agreements
in the Indenture or the Notes; provided, that if such failure cannot be remedied within such 60-day
period, such period shall be extended by another 60 days so long as (a) such failure is subject to
cure and (b) the Company is using commercially reasonable efforts to cure such failure; and
provided, further, that a failure to comply with any such other agreement that results from a
change in GAAP shall not be deemed to be an Event of Default; (v) except as permitted by the
Indenture, any Subsidiary Guarantee is held in any judicial proceeding to be unenforceable or
invalid or ceases for any reason to be in full force and effect or any Guarantor, or any Person
acting on behalf of any Guarantor, denies or disaffirms its obligations under its Subsidiary
Guarantee; and (vi) certain events of bankruptcy, insolvency or reorganization with respect to the
Company, Finance Corp., any of the Company’s Subsidiaries that is a Significant Subsidiary of the
Company or any group of Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary of the Company as specified in Section 6.01(f) or 6.01(g) of the Indenture.
If any Event of Default occurs and is continuing, the Trustee, by notice to the Issuers, or the
Holders of at least 25%, in the case of clause (i) or (ii) above, or at least a majority, in the
case of clauses (iii) – (v) above, in principal amount of the then outstanding Notes, by notice to
the Issuers and the Trustee, may declare all the Notes to be due and payable immediately.
Notwithstanding the preceding, in the case of an Event of Default arising from such events of
bankruptcy, insolvency or reorganization described in Section 6.01(f) or 6.01(g) of the Indenture,
all outstanding Notes will become due and payable without further action or notice. Holders may
not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain
limitations, Holders of a majority in principal amount of the then outstanding Notes may direct the
Trustee in its exercise of any trust or power conferred on it. The Trustee may withhold from
Holders of the Notes notice of any continuing Default or Event of Default (except a Default or
Event of Default relating to the payment of principal, premium, interest or Additional Interest) if
it determines that withholding notice is in their interest. The Holders of a majority in principal
amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all
of the Notes waive any existing Default or Event of Default and its consequences under the
Indenture except a continuing Default or Event of Default in the payment of the principal of, or
premium, if any, interest or Additional Interest, if any, on, the Notes. The Issuers and any
Guarantors are required to deliver to the Trustee annually a statement regarding compliance with
the Indenture.

     14. Defeasance and Discharge. The Notes are subject to defeasance and discharge upon
the terms and conditions specified in the Indenture.

Ex. 1 to App. - 8 

 

     15. No Recourse Against General Partner. Neither the General Partner nor any past,
present or future director, officer, partner, employee, incorporator, manager or owner of Capital
Stock of the General Partner, as such, shall have any liability for any obligations of the Issuers
or any Guarantor under the Notes, the Subsidiary Guarantees or the Indenture or for any claim based
on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a
Note waives and releases all such liability. The waiver and release are part of the consideration
for the issuance of the Notes.

     Notwithstanding the foregoing, nothing in the preceding paragraph shall be construed to modify
or supersede any obligation of the General Partner to restore any negative balance in its capital
account (maintained by the Company pursuant to the Limited Partnership Agreement) upon liquidation
of its interest in the Company.

     16. Authentication. This Note shall not be valid until authenticated by the manual
signature of an authorized officer of the Trustee or an authenticating agent.

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

     18. Additional Rights of Holders of Transfer Restricted Securities. In addition to
the rights provided to Holders of Notes under the Indenture, Holders of Transfer Restricted
Securities shall have all the rights set forth in the Registration Rights Agreement dated as of
December 13, 2006, among the Issuers and the Initial Purchasers (the “Registration Rights
Agreement”).

     19. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Issuers have caused CUSIP numbers and corresponding
ISIN numbers to be printed on the Notes, and the Trustee may use such numbers in notices of
redemption as a convenience to Holders. No representation is made as to the accuracy of such
numbers either as printed on the Notes or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon.

     20. Governing Law. THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     21. Successors. In the event a successor assumes all the obligations of an Issuer
under the Notes and the Indenture, pursuant to the terms thereof, such Issuer will be released from
all such obligations in the circumstances set forth in Section 5.02 of the Indenture.

Ex. 1 to App. - 9 

 

     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture or the Registration Rights Agreement. Requests may be made to:

Williams Partners L.P.

One Williams Center

Tulsa, Oklahoma 74172-0172

Attention: Chief Financial Officer

Ex. 1 to App. - 10 

 

ASSIGNMENT FORM

     To assign this Note, fill in the form below:

     I or we assign and transfer this Note to

 

Print or type assignee’s name, address and zip code)

 

(Insert assignee’s soc. sec. or tax I.D. No.)

     and irrevocably appoint                                          agent to transfer this Note on the books of the Issuers.
The agent may substitute another to act for him.

	 	 	 	 	 	 	 	 	 	 	 
	Date:	 	 	 	 	 	Your Signature:	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sign exactly as your name appears on the other side of this Note.
	 
	 	 	 	 	 	 	 	 	 	 
	Signature Guarantee:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	(Signature must be guaranteed)	 	 	 	 	 	 	 	 

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

 

In connection with any transfer of any of the Notes evidenced by this certificate occurring prior
to the expiration of the period referred to in Rule 144(k) under the Securities Act after the later
of the date of original issuance of such Notes and the last date, if any, on which such Notes were
owned by the Company or any Affiliate of the Company (or, in the case of Regulation S Notes, prior
to the expiration of the Distribution Compliance Period), the undersigned confirms that such Notes
are being transferred in accordance with its terms:

CHECK ONE BOX BELOW

	 	 	 	 	 	 	 	 	 
	 

	 	 	(1	)	 	o
	 	to an Issuer or a Subsidiary thereof; or
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(2	)	 	o
	 	pursuant to an effective registration statement under the Securities Act of
1933; or
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(3	)	 	o
	 	inside the United States to a person who the undersigned reasonably believes is
a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of
1933) that is purchasing for its own account or for the account of a qualified
institutional buyer to whom notice is given that such

Ex. 1 to App. - 11 

 

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	transfer is being made in reliance on Rule 144A, in each case pursuant to
and in compliance with Rule 144A under the Securities Act of 1933; or
	 
	 

	 	 	(4	)	 	o
	 	outside the United States in an offshore transaction within the meaning of
Regulation S under the Securities Act in compliance with Rule 904 under the Securities
Act of 1933; or
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(5	)	 	o
	 	pursuant to any other available exemption from the registration requirements of
the Securities Act of 1933, including an exemption provided by Rule 144 under the
Securities Act of 1933,

and in any case in accordance with any applicable securities laws of any state of the United States
or any other jurisdiction. Unless one of the boxes is checked, the Trustee will refuse to register
any of the Notes evidenced by this certificate in the name of any person other than the registered
holder thereof; provided, however, that if box (4) or (5) is checked, the Trustee shall be entitled
to require, prior to registering any such transfer of the Notes, such legal opinions,
certifications and other information as the Company has reasonably requested to confirm that such
transfer is being made pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933, such as the exemption provided by Rule 144
under such Act.

	 	 	 	 	 
	 

	 	 

Signature
	 	 

Ex. 1 to App. - 12 

 

TO BE COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this Note for its own account or an
account with respect to which it exercises sole investment discretion and that it and any such
account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities
Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Issuers and any Guarantors as the
undersigned has requested pursuant to Rule 144A or has determined not to request such information
and that it is aware that the transferor is relying upon the undersigned’s foregoing
representations in order to claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 	 	 	 	 
	Dated:

	 	 

	 	 	 	
 

	 	 
	 

	 	 

	 	 	 	Notice: To be executed by an executive officer
 

	 	 

Ex. 1 to App. - 13 

 

OPTION OF HOLDER TO ELECT PURCHASE

     If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 of
the Indenture, check the box below:

o

     If you want to elect to have only part of this Note purchased by the Company pursuant to
Section 4.10 of the Indenture, state the amount (in minimum denomination of $1,000 or integral
multiples thereof) you elect to have purchased: $                                        

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Date:	 	 	 	 	 	Your Signature:	 	 	 	 
	
 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	(Sign exactly as
your name appears on the other side of this Note)
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Soc. Sec. or Tax Identification No.:	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Signature Guarantee:

	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	(signature must be guaranteed)	 	 	 	 	 	 

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

Ex. 1 to App. - 14 

 

[TO BE ATTACHED TO GLOBAL NOTE]

SCHEDULE A – INCREASES OR DECREASES IN GLOBAL NOTE

     The following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Principal Amount of	 	 	 
	 	 	 	 	 	 	 	 	this Global Note	 	 	Signature of
	 	 	Amount of decrease	 	 	Amount of increase	 	 	following such	 	 	authorized officer
	 	 	in Principal Amount	 	 	in Principal Amount	 	 	decrease or	 	 	of Trustee or
	Date	 	of this Global Note	 	 	of this Global Note	 	 	increase	 	 	Notes Custodian

Ex. 1 to App. - 15 

 

EXHIBIT A TO RULE 144A/REGULATION S APPENDIX

[FORM OF FACE OF EXCHANGE NOTE] ___*/

*/ If the Note is to be issued in global form add the Global Notes Legend from Exhibit 1 to Rule
144A/Regulation S Appendix and the attachment from such Exhibit 1 captioned “[TO BE ATTACHED TO
GLOBAL NOTES] — SCHEDULE A – INCREASES OR DECREASES IN GLOBAL NOTE”.

All references to “Additional Interest” in the Note shall be deleted unless if at the date of
issuance of the Exchange Note any Registration Default (as defined in the Registration Rights
Agreement) has occurred with respect to the related Initial Notes during the interest period in
which such date of issuance occurs.

Ex. A to App. - 1 

 

[FORM OF FACE OF EXCHANGE NOTE]

WILLIAMS PARTNERS L.P.

WILLIAMS PARTNERS FINANCE CORPORATION

71/4% Senior Note due 2017

	 	 	 	 	 
	No.

	 	 	$	 
	 

	 	            CUSIP No. ___

	 

	 	                ISIN No. ___

     Williams Partners L.P., a Delaware limited partnership, and Williams Partners Finance
Corporation, a Delaware corporation, jointly and severally promise to pay to                     , or
registered assigns, the principal sum of                      Dollars on [or such greater or lesser amount as
may be indicated on Schedule A hereto]2 on February 1, 2017.

     Interest Payment Dates: February 1 and August 1.

     Record Dates: January 15 and July 15.

     Additional provisions of this Note are set forth on the other side of this Note.

	 	 	 	 	 
	 	WILLIAMS PARTNERS L.P.

 	 
	 	By:  	Williams Partners GP, LLC,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 
	 	WILLIAMS PARTNERS

FINANCE CORPORATION

 	 
	 	By:  	
 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

 

			
	2  If this Note is a Global Note, add this provision.

Ex. A to App. - 2 

 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

THE BANK OF NEW YORK,

as Trustee, certifies that

this is one of the Notes

referred to in the Indenture.

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

Dated:

Ex. A to App. - 3 

 

[FORM OF REVERSE SIDE OF EXCHANGE NOTE]

71/4% Senior Note due 2017

     Capitalized terms used herein but not defined shall have the meanings assigned to them in the
Indenture referred to below unless otherwise indicated.

     1. Interest. Williams Partners L.P., a Delaware limited partnership (the “Company”),
and Williams Partners Finance Corporation, a Delaware corporation (the “Finance Corp.” and,
together with the Company, the “Issuers”), jointly and severally promise to pay interest on the
principal amount of this Note at 71/4% per annum from                     , 20___until maturity and shall pay
any Additional Interest payable pursuant to Section 5 of the Registration Rights Agreement referred
to below. The Issuers will pay interest and Additional Interest, if any, semi-annually in arrears
on February 1 and August 1 of each year (each an “Interest Payment Date”), commencing                     ,
20___, or if any such day is not a Business Day, on the next succeeding Business Day. Interest on
the Notes will accrue from the most recent date to which interest has been paid or duly provided
for or, if no interest has been paid or duly provided for, from the date of original issuance;
provided that if there is no existing Default or Event of Default in the payment of interest, and
if this Note is authenticated between a record date referred to on the face hereof and the next
succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment
Date, except in the case of the original issuance of Notes, in which case interest shall accrue
from the date of original issuance. The Issuers shall pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from
time to time on demand at a rate that is the rate then in effect with respect to this Note; they
shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on
overdue installments of interest and Additional Interest (without regard to any applicable grace
periods) from time to time on demand at the same rate to the extent lawful. Interest will be
computed on the basis of a 360-day year of twelve 30-day months.

     2. Method of Payment. The Issuers will pay interest on the Notes (except defaulted
interest) and Additional Interest to the Persons who are registered Holders of Notes on the January
15 and July 15 next preceding the Interest Payment Date, whether or not a Business Day, even if
such Notes are cancelled after such record date and on or before such Interest Payment Date, except
as provided in Section 2.11 of the Indenture with respect to defaulted interest. Holders must
surrender Notes to the Paying Agent to collect payments of principal and premium, if any, together
with accrued and unpaid interest and Additional Interest, if any, due at maturity (unless the date
of maturity is an Interest Payment Date). The Notes will be payable as to principal, premium, if
any, interest and Additional Interest, if any, at the office or agency of the Issuers maintained
for such purpose within the City and State of New York, or, at the option of the Issuers, payment
of interest and Additional Interest may be made by check mailed to the Holders at their addresses
set forth in the register of Holders, and provided that payment by wire transfer of immediately
available funds will be required with respect to any amounts due on all Global Notes and all other
Notes the Holders of which shall have provided wire transfer instructions to the Paying Agent at
least 15 days prior to the applicable payment date. Such payment shall be in such coin or currency
of the United States of America as at the time of payment is legal tender for payment of public and
private debts.

Ex. A to App. - 4 

 

     3. Paying Agent and Registrar. Initially, The Bank of New York, the Trustee under the
Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or
Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such
capacity.

     4. Indenture. The Issuers issued the Notes under an Indenture dated as of December
13, 2006 (“Indenture”) among the Issuers and the Trustee. The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture
Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms,
and Holders are referred to the Indenture and such Act for a statement of such terms. The Notes
are unsecured senior obligations of the Issuers limited to $600,000,000 aggregate principal amount
in the case of Notes issued on the Initial Issuance Date (as defined in the Indenture).

     5. Optional Redemption.

     (a) Except as set forth in subparagraph (b) of this Paragraph 5, the Issuers shall not have
the option to redeem the Notes.

     (b) At any time, from time to time, the Issuers may redeem all or part of the Notes upon not
less than 30 nor more than 60 days’ notice, at a redemption price equal to the sum of (1) the
principal amount thereof, plus (2) accrued and unpaid interest, if any, to the redemption date
(subject to the right of Holders of record on the relevant record date to receive interest due on
an interest payment date that is on or prior to the redemption date), plus (3) the Make Whole
Premium at the redemption date.

     6. Mandatory Redemption.

     Except as set forth in Paragraph 7 below, neither of the Issuers shall be required to make
mandatory redemption or sinking fund payments with respect to the Notes or to repurchase the Notes
at the option of the Holders.

     7. Repurchase at Option of Holder Upon Change of Control.

     Unless the Company and its Subsidiaries are no longer subject to the provisions of Section
4.10 of the Indenture, within 30 days following the occurrence of a Change of Control, the Company
shall make an offer (a “Change of Control Offer”) to repurchase all or any part (equal to $2,000 or
an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price equal
to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest
and Additional Interest, if any, to the date of settlement (the “Change of Control Settlement
Date”), subject to the right of Holders of record on the relevant record date to receive interest
due on an Interest Payment Date that is on or prior to the Change of Control Settlement Date.
Within 30 days following a Change of Control, the Company shall mail a notice of the Change of
Control Offer to each Holder and the Trustee describing the transaction that constitutes the Change
of Control and setting forth the procedures governing the Change of Control Offer as required by
Section 4.10 of the Indenture.

Ex. A to App. - 5 

 

     8. Notice of Redemption. Notice of redemption will be mailed at least 30 days but not
more than 60 days (except as otherwise provided in the Indenture if the notice is issued in
connection with a Legal Defeasance, Covenant Defeasance or Discharge) before the redemption date to
each Holder whose Notes are to be redeemed at its registered address. If mailed in the manner
provided for in Section 3.03 of the Indenture, the notice of optional redemption shall be
conclusively presumed to have been given whether or not a Holder receives such notice. Failure to
give timely notice or any defect in the notice as to any particular Holder shall not affect the
validity of the redemption as to other Holders. Notes in denominations larger than $2,000 may be
redeemed in part but only in whole multiples of $1,000. On and after the redemption date interest
and Additional Interest, if any, cease to accrue on Notes or portions thereof called for
redemption.

     9. Potential Subsidiary Guarantees. Subject to the conditions set forth in Section
4.08 of the Indenture, the payment of the Issuers of the principal of, and premium, if any,
interest and Additional Interest, if any, on, the Notes will be fully and unconditionally
guaranteed on a joint and several senior unsecured basis by each of the Guarantors to the extent
set forth in the Indenture.

     10. Denominations, Transfer, Exchange. The Notes are in registered form without
coupons in denominations of integral multiples of $1,000, with a minimum denomination of $2,000.
The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture.
The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents, and the Company may require a Holder to pay any taxes due on
transfer or exchange. The Issuers need not exchange or register the transfer of any Note or
portion of a Note selected for redemption, except for the unredeemed portion of any Note being
redeemed in part. Also, they need not exchange or register the transfer of any Notes for a period
of 15 days before a selection of Notes to be redeemed.

     11. Persons Deemed Owners. The registered Holder of a Note may be treated as its
owner for all purposes.

     12. Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture or
the Notes may be amended or supplemented with the consent of the Holders of at least a majority in
principal amount of the then outstanding Notes, and any existing default or compliance with any
provision of the Indenture or the Notes may be waived with the consent of the Holders of a majority
in principal amount of the then outstanding Notes. Without the consent of any Holder of a Note,
the Indenture or the Notes may be amended or supplemented (1) to cure any ambiguity, defect or
inconsistency, (2) to provide for uncertificated Notes in addition to or in place of certificated
Notes, (3) to provide for the assumption of an Issuer’s or Guarantor’s obligations to Holders of
the Notes pursuant to Article 5 of the Indenture, (4) to make any change that would provide any
additional rights or benefits to the Holders of the Notes or that does not adversely affect the
legal rights under the Indenture of any such Holder, provided that any change to conform the
Indenture to the Offering Memorandum shall not be deemed to adversely affect the legal rights under
the Indenture of any Holder, (5) to secure the Notes pursuant to Section 4.07 of the Indenture or
otherwise, (6) to provide for the issuance of Additional Notes in accordance with the limitations
set forth in the Indenture, (7) to add any Guarantor with respect to the Notes or to evidence the
release of any Guarantor from its

Ex. A to App. - 6 

 

Subsidiary Guarantee, in each case as provided in the Indenture, (8) to comply with the
requirements of the SEC in order to effect or maintain the qualification of the Indenture under the
Trust Indenture Act or (9) to evidence or provide for the acceptance of appointment under the
Indenture of a successor Trustee.

     13. Defaults and Remedies. Events of Default include: (i) default for 30 days in the
payment when due of interest or Additional Interest, if any, on the Notes; (ii) default in payment
of the principal of, or premium, if any, the Notes when due at Stated Maturity, upon required
repurchase, upon optional redemption, declaration or otherwise; (iii) failure by the Company to
comply with Section 4.10 of the Indenture; (iv) failure by the Company for 60 days after its
receipt of written notice as specified in the Indenture to comply with any of its other agreements
in the Indenture or the Notes; provided, that if such failure cannot be remedied within such 60-day
period, such period shall be extended by another 60 days so long as (a) such failure is subject to
cure and (b) the Company is using commercially reasonable efforts to cure such failure; and
provided, further, that a failure to comply with any such other agreement that results from a
change in GAAP shall not be deemed to be an Event of Default; (v) except as permitted by the
Indenture, any Subsidiary Guarantee is held in any judicial proceeding to be unenforceable or
invalid or ceases for any reason to be in full force and effect or any Guarantor, or any Person
acting on behalf of any Guarantor, denies or disaffirms its obligations under its Subsidiary
Guarantee; and (vi) certain events of bankruptcy, insolvency or reorganization with respect to the
Company, Finance Corp., any of the Company’s Subsidiaries that is a Significant Subsidiary of the
Company or any group of Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary of the Company as specified in Section 6.01(f) or 6.01(g) of the Indenture.
If any Event of Default occurs and is continuing, the Trustee, by notice to the Issuers, or the
Holders of at least 25%, in the case of clause (i) or (ii) above, or at least a majority in the
case of clauses (iii) – (v) above, in principal amount of the then outstanding Notes, by notice to
the Issuers and the Trustee, may declare all the Notes to be due and payable immediately.
Notwithstanding the preceding, in the case of an Event of Default arising from such events of
bankruptcy, insolvency or reorganization described in Section 6.01(f) or 6.01(g) of the Indenture,
all outstanding Notes will become due and payable without further action or notice. Holders may
not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain
limitations, Holders of a majority in principal amount of the then outstanding Notes may direct the
Trustee in its exercise of any trust or power conferred on it. The Trustee may withhold from
Holders of the Notes notice of any continuing Default or Event of Default (except a Default or
Event of Default relating to the payment of principal, premium, interest or Additional Interest) if
it determines that withholding notice is in their interest. The Holders of a majority in principal
amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all
of the Notes waive any existing Default or Event of Default and its consequences under the
Indenture except a continuing Default or Event of Default in the payment of the principal of, or
premium, if any, interest or Additional Interest, if any, on, the Notes. The Issuers and any
Guarantors are required to deliver to the Trustee annually a statement regarding compliance with
the Indenture.

     14. Defeasance and Discharge. The Notes are subject to defeasance and discharge upon
the terms and conditions specified in the Indenture.

Ex. A to App. - 7 

 

     15. No Recourse Against General Partner. Neither the General Partner nor any past,
present or future director, officer, partner, employee, incorporator, manager or owner of Capital
Stock of the General Partner, as such, shall have any liability for any obligations of the Issuers
or any Guarantor under the Notes, the Subsidiary Guarantees or the Indenture or for any claim based
on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a
Note waives and releases all such liability. The waiver and release are part of the consideration
for the issuance of the Notes.

     Notwithstanding the foregoing, nothing in the preceding paragraph shall be construed to modify
or supersede any obligation of the General Partner to restore any negative balance in its capital
account (maintained by the Company pursuant to the Limited Partnership Agreement) upon liquidation
of its interest in the Company.

     16. Authentication. This Note shall not be valid until authenticated by the manual
signature of an authorized officer of the Trustee or an authenticating agent.

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

     18. [Additional Rights of Holders of Transfer Restricted Securities. In addition to
the rights provided to Holders of Notes under the Indenture, Holders of Transfer Restricted
Securities shall have all the rights set forth in the Registration Rights Agreement dated as of
December 13, 2006, among the Issuers and the Initial Purchasers (the “Registration Rights
Agreement”).]3

     19. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Issuers have caused CUSIP numbers and corresponding
ISIN numbers to be printed on the Notes, and the Trustee may use such numbers in notices of
redemption as a convenience to Holders. No representation is made as to the accuracy of such
numbers either as printed on the Notes or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon.

     20. Governing Law. THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     21. Successors. In the event a successor assumes all the obligations of an Issuer
under the Notes and the Indenture, pursuant to the terms thereof, such Issuer will be released from
all such obligations in the circumstances set forth in Section 5.02 of the Indenture.

 

			
	3  Delete if this Note is not being issued in
exchange for an Initial Note or if there is no existing Registration Default.

Ex. A to App. - 8 

 

     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture [and/or the Registration Rights Agreement]4. Requests may be made to:

Williams Partners L.P.

One Williams Center

Tulsa, Oklahoma 74172-0172

Attention: Chief Financial Officer

 

			
	4  Delete if this Note is not being issued in
exchange for an Initial Note.

Ex. A to App. - 9 

 

ASSIGNMENT FORM

     To assign this Note, fill in the form below:

     I or we assign and transfer this Note to

 

Print or type assignee’s name, address and zip code)

 

(Insert assignee’s soc. sec. or tax I.D. No.)

and irrevocably appoint                                          agent to transfer this Note on the books of the Issuers.
The agent may substitute another to act for him.

	 	 	 	 	 	 	 	 	 	 	 
	Date:	 	 	 	 	 	Your Signature:	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sign exactly as your name appears on the other side of this Note.

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

Ex. A to App. - 10 

 

OPTION OF HOLDER TO ELECT PURCHASE

     If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 of
the Indenture, check the box below:

o

     If you want to elect to have only part of this Note purchased by the Company pursuant to
Section 4.10 of the Indenture, state the amount (in minimum denomination of $1,000 or integral
multiples thereof) you elected to have purchased: $                    

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Date:	 	 	 	 	 	Your Signature:	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	(Sign exactly as
your name appears on the other side of this Note)
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Soc. Sec. or Tax Identification No.:	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Signature Guarantee:

	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	(signature must be guaranteed)	 	 	 	 	 	 

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

Ex. A to App. - 11 

 

ANNEX A

 

WILLIAMS PARTNERS L.P.

WILLIAMS PARTNERS FINANCE CORPORATION

and

the Guarantors named herein

 

71/4% SENIOR NOTES DUE 2017

 

 

FORM OF SUPPLEMENTAL INDENTURE

AND AMENDMENT — SUBSIDIARY GUARANTEE

DATED AS OF                      ___, ___

 

THE BANK OF NEW YORK,

Trustee

 

 

A-1 

 

     This SUPPLEMENTAL INDENTURE, dated as of                      ___, ___is among Williams Partners L.P.,
a Delaware limited partnership (the “Company”), Williams Partners Finance Corporation, a Delaware
corporation (“Finance Corp.” and, together with the Company, the “Issuers”), each of the parties
identified under the caption “Guarantors” on the signature page hereto (the “Guarantors”) and The
Bank of New York, a New York banking corporation, as Trustee.

RECITALS

     WHEREAS, the Issuers and the Trustee entered into an Indenture, dated as of December 13, 2006
(the “Indenture”), pursuant to which the Issuers have issued $                     in principal amount of
their 71/4% Senior Notes due 2017 (the “Notes”);

     WHEREAS, Section 9.01(g) of the Indenture provides that the Issuers, any Guarantors and the
Trustee may amend or supplement the Indenture in order to comply with Section 4.08 thereof, without
the consent of the Holders of the Notes; and

     WHEREAS, all acts and things prescribed by the Indenture, by law and by the Certificate of
Incorporation and the Bylaws (or comparable constituent documents) of the Issuers, of the
Guarantors and of the Trustee necessary to make this Supplemental Indenture a valid instrument
legally binding on the Issuers, the Guarantors and the Trustee, in accordance with its terms, have
been duly done and performed;

     NOW, THEREFORE, to comply with the provisions of the Indenture and in consideration of the
above premises, the Issuers, the Guarantors and the Trustee covenant and agree for the equal and
proportionate benefit of the respective Holders of the Notes as follows:

ARTICLE 1

     Section 1.01. This Supplemental Indenture is supplemental to the Indenture and does and shall
be deemed to form a part of, and shall be construed in connection with and as part of, the
Indenture for any and all purposes.

     Section 1.02. This Supplemental Indenture shall become effective immediately upon its
execution and delivery by each of the Issuers, the Guarantors and the Trustee.

ARTICLE 2

     From this date, in accordance with Section 4.08 of the Indenture and by executing this
Supplemental Indenture, the Guarantors whose signatures appear below are subject to the provisions
of the Indenture to the extent provided for in Article 10 thereof and subject to Section 4.13
thereof.

ARTICLE 3

     Section 3.01. Except as specifically modified herein, the Indenture and the Notes are in all
respects ratified and confirmed (mutatis mutandis) and shall remain in full force and effect in

A-2 

 

accordance with their terms with all capitalized terms used herein without definition having
the same respective meanings ascribed to them as in the Indenture.

     Section 3.02. Except as otherwise expressly provided herein, no duties, responsibilities or
liabilities are assumed, or shall be construed to be assumed, by the Trustee by reason of this
Supplemental Indenture, and the Trustee shall not be responsible for the recitals contained herein,
all of which are made by the Issuers and the Guarantors whose signatures appear below, or for the
validity or sufficiency hereof. This Supplemental Indenture is executed and accepted by the
Trustee subject to all the terms and conditions set forth in the Indenture with the same force and
effect as if those terms and conditions were repeated at length herein and made applicable to the
Trustee with respect hereto.

     Section 3.03. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.

     Section 3.04. The parties may sign any number of copies of this Supplemental Indenture. Each
signed copy shall be an original, but all of such executed copies together shall represent the same
agreement.

[NEXT PAGE IS SIGNATURE PAGE]

A-3 

 

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

 

	 	 	 	 	 
	 	 	 
	 	WILLIAMS PARTNERS L.P.	 
	 
	 	By:  	                             Williams Partners GP LLC,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WILLIAMS PARTNERS 

FINANCE CORPORATION

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GUARANTORS

[                                        ]

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE BANK OF NEW YORK,

as Trustee

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

A-4 

 

ANNEX B

FORM OF REGISTRATION RIGHTS AGREEMENT

See attached.

D- 1exv4w3

 

Exhibit 4.3

Execution
Copy

REGISTRATION RIGHTS AGREEMENT

by and among

Williams Partners L.P.

Williams Partners Finance Corporation

and

Citigroup Global Markets Inc.

Lehman Brothers Inc.

Merrill Lynch, Pierce, Fenner & Smith Incorporated

as Representatives of

the Initial Purchasers

Dated as of December 13, 2006

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	Section 1.

	 	Definitions
	 	 	1	 
	 
	 	 	 	 	 	 
	Section 2.

	 	Securities Subject to this Agreement
	 	 	3	 
	 
	 	 	 	 	 	 
	Section 3.

	 	Registered Exchange Offer
	 	 	4	 
	 
	 	 	 	 	 	 
	Section 4.

	 	Shelf Registration
	 	 	5	 
	 
	 	 	 	 	 	 
	Section 5.

	 	Additional Interest
	 	 	6	 
	 
	 	 	 	 	 	 
	Section 6.

	 	Registration Procedures
	 	 	7	 
	 
	 	 	 	 	 	 
	Section 7.

	 	Registration Expenses
	 	 	12	 
	 
	 	 	 	 	 	 
	Section 8.

	 	Indemnification
	 	 	13	 
	 
	 	 	 	 	 	 
	Section 9.

	 	Rule 144 and 144A Information
	 	 	15	 
	 
	 	 	 	 	 	 
	Section 10.

	 	Participation in Underwritten Offerings
	 	 	15	 
	 
	 	 	 	 	 	 
	Section 11.

	 	Selection of Underwriters
	 	 	15	 
	 
	 	 	 	 	 	 
	Section 12.

	 	Miscellaneous
	 	 	15	 

 i 

 

 

REGISTRATION RIGHTS AGREEMENT

     This Registration Rights Agreement (this “Agreement”) is made and entered into as of
December 13, 2006, by and among Williams Partners L.P., a Delaware limited partnership (the
“Partnership”), and Williams Partners Finance Corporation, a Delaware corporation
(“Williams Finance,” and together with the Partnership, the “Issuers”), and
Citigroup Global Markets Inc., Lehman Brothers Inc. and Merrill Lynch, Pierce, Fenner & Smith
Incorporated, as representatives (collectively, the “Representatives”) of certain
purchasers, including the Representatives (collectively, the “Initial Purchasers”), who
have agreed to purchase the Issuers’ 7 1/4% Senior Notes due 2017 (the “Initial Securities”)
pursuant to the Purchase Agreement (as defined below).

     This Agreement is made pursuant to the Purchase Agreement, dated December 6, 2006 (the
“Purchase Agreement”), among the Issuers and the Initial Purchasers relating to the Initial
Securities (i) for the benefit of the Initial Purchasers and (ii) for the benefit of the Holders
from time to time of the Initial Securities, including the Initial Purchasers. In order to induce
the Initial Purchasers to purchase the Initial Securities, the Issuers have agreed to provide the
registration rights set forth in this Agreement. The execution and delivery of this Agreement is a
condition to the obligations of the Initial Purchasers set forth in Section 6 of the Purchase
Agreement.

     The parties hereby agree as follows:

     Section 1.
Definitions. As used in this Agreement, the following capitalized terms shall have the
following meanings:

     Additional Interest: As defined in Section 5 hereof.

     Advice: As defined in the last paragraph of Section 6(c) hereof.

     Agreement: As defined in the preamble hereto.

     Blackout Period: As defined in the last paragraph of Section 4(a) hereof.

     Broker-Dealer: Any broker or dealer registered under the Exchange Act.

     Business Day: As defined in the Indenture.

     Closing Date: The date of this Agreement.

     Commission: The Securities and Exchange Commission.

     Consummate: A registered Exchange Offer shall be deemed “Consummated” for purposes of this
Agreement upon the occurrence of (i) the filing and effectiveness under the Securities Act of the
Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the
Exchange Offer, (ii) the maintenance of such Registration Statement continuously effective and the
keeping of the Exchange Offer open for a period not less than the minimum period required pursuant
to Section 3(b) hereof, and (iii) the delivery by the Issuers to

 

 

the Registrar under the Indenture of Exchange Securities in the same aggregate principal amount
as the aggregate principal amount of Initial Securities that were tendered by Holders thereof
pursuant to the Exchange Offer.

     Effectiveness Target Date: As defined in Section 5 hereof.

     Exchange Act: The Securities Exchange Act of 1934, as amended.

     Exchange Offer: The Issuers’ offer to the Holders of all outstanding Transfer Restricted
Securities of the opportunity to exchange all such outstanding Transfer Restricted Securities held
by such Holders for Exchange Securities in an aggregate principal amount equal to the aggregate
principal amount of the Transfer Restricted Securities tendered in such exchange offer by such
Holders.

     Exchange Offer Registration Statement: The Registration Statement relating to the Exchange
Offer, including the related Prospectus.

     Exchange Securities: The 7 1/4% Senior Notes due 2017, of the same series under the Indenture
as the Initial Securities, to be issued to Holders in exchange for Transfer Restricted Securities
pursuant to this Agreement.

     Exempt Resales: The transactions in which the Initial Purchasers propose to sell the Initial
Securities to certain “qualified institutional buyers,” as such term is defined in Rule 144A under
the Securities Act and to certain non-U.S. persons pursuant to Regulation S under the Securities
Act.

     Holder: As defined in Section 2(b) hereof.

     Indemnified Holder: As defined in Section 8(a) hereof.

     Indenture: The Indenture, dated as of December 13, 2006 by and among the Issuers and the
Trustee, pursuant to which the Securities are to be issued, as such Indenture is amended or
supplemented from time-to-time in accordance with the terms thereof.

     Initial Placement: The issuance and sale by the Issuers of the Initial Securities to the
Initial Purchasers pursuant to the Purchase Agreement.

     Initial Purchasers: As defined in the preamble hereto.

     Initial Securities: As defined in the preamble hereto.

     Issuers: As defined in the preamble hereto.

     NASD: NASD Inc.

     Partnership: As defined in the preamble hereto.

     Person: An individual, partnership, limited liability company, corporation, trust or
unincorporated organization, or a government or agency or political subdivision thereof.

2

 

     Prospectus: The prospectus included in a Registration Statement, as amended or supplemented
by any prospectus supplement and by all other amendments thereto, including post-effective
amendments, and all material incorporated by reference into such prospectus.

     Registration Default: As defined in Section 5 hereof.

     Registration Statement: Any registration statement of the Partnership relating to (a) an
offering of Exchange Securities pursuant to an Exchange Offer or (b) the registration for resale of
Transfer Restricted Securities pursuant to the Shelf Registration Statement, which is filed
pursuant to the provisions of this Agreement, in each case, including the Prospectus.

     Representatives: As defined in the preamble hereto.

     Securities: The Initial Securities and the Exchange Securities.

     Securities Act: The Securities Act of 1933, as amended.

     Shelf Filing Deadline: As defined in Section 4(a)(x) hereof.

     Shelf Registration Statement: As defined in Section 4(a)(x) hereof.

     Transfer Restricted Securities: Each Initial Security, until the earliest to occur of (a) the
date on which such Initial Security is exchanged in the Exchange Offer for an Exchange Security
entitled to be resold to the public by the Holder thereof without complying with the prospectus
delivery requirements of the Securities Act, (b) the date on which such Initial Security has been
effectively registered under the Securities Act and disposed of in accordance with a Shelf
Registration Statement, (c) the date on which such Initial Security is distributed to the public
pursuant to Rule 144(k) under the Securities Act or by a Broker-Dealer pursuant to the “Plan of
Distribution” contemplated by the Exchange Offer Registration Statement (including delivery of the
Prospectus contained therein) and (d) the date on which such Initial Securities cease to be
outstanding for purposes of the Indenture.

     Trust Indenture Act: The Trust Indenture Act of 1939, as amended.

     Trustee: The Bank of New York.

     Underwritten Offering: An offering in which securities of the Partnership are sold to an
underwriter for reoffering to the public.

     Williams Finance: As defined in the preamble hereto.

     Section 2. Securities Subject to this Agreement.

     (a) Transfer Restricted Securities. The Transfer Restricted Securities are entitled to the
benefits of this Agreement.

3

 

     (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer
Restricted Securities (each, a “Holder”) whenever such Person owns Transfer Restricted
Securities.

     Section 3. Registered Exchange Offer.

     (a) Unless the Exchange Offer shall not be permissible under applicable law or Commission
policy, the Issuers shall (i) cause to be filed with the Commission on or prior to 270 days after
the Closing Date, a Registration Statement under the Securities Act relating to the Exchange
Securities (other than Transfer Restricted Securities acquired by any Broker-Dealer directly from
the Issuers) and the Exchange Offer, (ii) use commercially reasonable efforts to cause such
Registration Statement to be declared effective by the Commission on or prior to 360 days after the
Closing Date, and (iii) upon the effectiveness of such Registration Statement, promptly commence
the Exchange Offer. The Exchange Offer shall be on the appropriate form permitting registration of
the Exchange Securities to be offered in exchange for the Transfer Restricted Securities (other
than Transfer Restricted Securities acquired by any Broker-Dealer directly from the Issuers) and to
permit resales of Initial Securities held by Broker-Dealers as contemplated by Section 3(c) hereof.

     (b) The Issuers shall use commercially reasonable efforts to cause the Exchange Offer to be
Consummated no later than 40 Business Days after the Exchange Offer Registration Statement has
become effective.

     (c) The Issuers shall indicate in a “Plan of Distribution” section contained in the Prospectus
forming a part of the Exchange Offer Registration Statement that any Broker-Dealer who holds
Initial Securities that are Transfer Restricted Securities and that were acquired for its own
account as a result of market-making activities or other trading activities (other than Transfer
Restricted Securities acquired directly from the Issuers) may exchange such Initial Securities
pursuant to the Exchange Offer; however, such Broker-Dealer may be deemed to be an “underwriter”
within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the
requirements of the Securities Act in connection with any resales of the Exchange Securities
received by such Broker-Dealer in the Exchange Offer, which prospectus delivery requirement may be
satisfied by the delivery by such Broker-Dealer of the Prospectus contained in the Exchange Offer
Registration Statement. Such “Plan of Distribution” section shall also contain all other
information with respect to such resales by Broker-Dealers that the Commission may require in order
to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such
Broker-Dealer or disclose the amount of Initial Securities held by any such Broker-Dealer except to
the extent required by the Commission.

     The Issuers shall use commercially reasonable efforts to keep the Exchange Offer Registration
Statement continuously effective, supplemented and amended as required by the provisions of Section
6(c) hereof to the extent necessary to ensure that it is available for resales
of Initial Securities acquired by Broker-Dealers for their own accounts as a result of
market-making activities or other trading activities for a period ending on the earlier of (i) 180
days after the Consummation of the Exchange Offer and (ii) the date on which a Broker-Dealer is no
longer required to deliver a prospectus in connection with market-making or other trading
activities.

4

 

     The Issuers shall promptly provide copies of the latest version of such Prospectus to
Broker-Dealers as may be reasonably requested at any time during such 180-day (or shorter as
provided in the foregoing sentence) period in order to facilitate such resales.

     Section 4.
Shelf Registration.

     (a) Shelf Registration. If (i) the Issuers are not required to file an Exchange Offer
Registration Statement or to consummate the Exchange Offer because the Exchange Offer is not
permitted by applicable law or Commission policy, (ii) for any reason the Exchange Offer is not
Consummated within 40 Business Days after the Exchange Offer Registration Statement has become
effective or (iii) with respect to any Holder of Transfer Restricted Securities, such Holder
notifies the Partnership following the Consummation of the Exchange Offer that (A) because of any
change in law or in currently prevailing interpretations of the staff of the Commission, such
Holder (other than an Initial Purchaser holding Notes acquired directly from the Issuers) is
prohibited by applicable law or Commission policy from participating in the Exchange Offer, or (B)
such Holder may not resell the Exchange Securities acquired by it in the Exchange Offer to the
public without delivering a prospectus and that the Prospectus contained in the Exchange Offer
Registration Statement is not appropriate or available for such resales by such Holder, or (C) such
Holder is a Broker-Dealer and holds Initial Securities acquired directly from an Issuer or one of
its affiliates, then, in each case upon such Holder’s request in writing within 20 days after the
Consummation of the Exchange Offer, the Issuers shall:

          (x) use commercially reasonable efforts to cause to be filed a shelf registration
statement pursuant to Rule 415 under the Securities Act, which may be an amendment to the
Exchange Offer Registration Statement (in either event, the “Shelf Registration
Statement”), within 90 days after such filing obligation under clauses (i), (ii) or
(iii) of clause (a) above arises (such date being the “Shelf Filing Deadline”),
which Shelf Registration Statement shall provide for resales of all Transfer Restricted
Securities the Holders of which shall have provided the information required pursuant to
Section 4(b) hereof; and

          (y) use commercially reasonable efforts to cause such Shelf Registration Statement to
be declared effective by the Commission on or before the 270th day after the date on which
the filing obligation arises.

     The Issuers shall use commercially reasonable efforts to keep such Shelf Registration
Statement continuously effective, supplemented and amended as required by the provisions of
Sections 6(b) and (c) hereof to the extent necessary to ensure that it is available for resales of
Initial Securities by the Holders of Transfer Restricted Securities entitled to the benefit of this
Section 4(a) for a period of at least two years following the Closing Date (or shorter period (i)
that will terminate when all the Initial Securities covered by such Shelf Registration Statement
have been sold pursuant to such Shelf Registration Statement or (ii) as may be required
pursuant to Rule 144(k) under the Securities Act). The Issuers shall be deemed not to have used
commercially reasonable efforts to keep the Shelf Registration Statement effective during the
requisite period if any of the Issuers voluntarily takes any action that would result in Holders of
Transfer Restricted Securities covered thereby not being able to offer and sell such Transfer
Restricted Securities during that period, unless (A) such action is required by applicable law; or

5

 

(B) such action is taken by any of the Issuers in good faith and for valid business reasons (not
including avoidance of the Issuers obligations hereunder) including, but not limited to, a material
business transaction or development such as the acquisition or divestiture of assets, so long as
the Issuers promptly thereafter comply with the requirements of the last paragraph of Section 6(c)
hereof (the period during which the Shelf Registration Statement is not available under clauses (A)
or (B) above, the “Blackout Period”). The Blackout Period shall not exceed 45 days in any
three-month period or 90 days in any twelve-month period.

     (b) Provision by Holders of Certain Information in Connection with the Shelf Registration
Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted
Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such
Holder furnishes to the Partnership in writing, within 20 days after receipt of a request therefor,
such information as the Partnership may reasonably request for use in connection with any Shelf
Registration Statement or Prospectus or preliminary Prospectus included therein. Each Holder as to
which any Shelf Registration Statement is being effected agrees to furnish promptly to the
Partnership all information required to be disclosed in order to make the information previously
furnished to the Partnership by such Holder not materially misleading.

     Section 5. Additional Interest. If (i) any of the Registration Statements required by this
Agreement is not filed with the Commission on or prior to the date specified for such filing in
this Agreement, (ii) any of such Registration Statements has not been declared effective by the
Commission on or prior to the date specified for such effectiveness in this Agreement (the
“Effectiveness Target Date”), (iii) the Exchange Offer has not been Consummated within 40
Business Days after the Exchange Offer Registration Statement has become effective under the
Securities Act or (iv) the Shelf Registration Statement or the Exchange Offering Registration
Statement is filed and declared effective but shall thereafter cease to be effective or fail to be
usable for its intended purpose, except during any Blackout Period, without being succeeded
immediately by a post-effective amendment to such Registration Statement that cures such failure
and that is itself immediately declared effective (each such event referred to in clauses (i)
through (iv), a “Registration Default”), the Issuers hereby agree that the interest rate
borne by the Transfer Restricted Securities shall be increased by 0.25% per annum during the 90-day
period immediately following the occurrence of any Registration Default and shall increase by 0.25%
per annum 90 days thereafter until all Registration Defaults have been cured, but in no event shall
such aggregate additional interest exceed 0.5% per annum. Such additional interest to be paid
pursuant to a Registration Default as set forth in this Section 5 is herein referred to as
“Additional Interest.” The Issuers shall not be required to pay Additional Interest for
more than one Registration Default at any given time. Following the cure of all Registration
Defaults relating to any particular Transfer Restricted Securities, the interest rate borne by the
relevant
Transfer Restricted Securities will be reduced to the original interest rate borne by such Transfer
Restricted Securities; provided, however, that, if after any such reduction in interest rate, a
different Registration Default occurs, the interest rate borne by the relevant Transfer Restricted
Securities shall again be increased pursuant to the foregoing provisions.

     All Additional Interest accrued pursuant to this Section 5 shall be paid in the manner
provided for in the Indenture. All obligations of the Issuers set forth in the preceding paragraph
that are outstanding with respect to any Transfer Restricted Security at the time such security

6

 

ceases to be a Transfer Restricted Security shall survive until such time as all such obligations
with respect to such security shall have been satisfied in full.

     Section 6. Registration Procedures.

     (a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the Issuers
shall comply with all of the provisions of Section 6(c) hereof and shall use commercially
reasonable efforts to effect such exchange to permit the sale of Transfer Restricted Securities
being sold in accordance with the intended method or methods of distribution thereof. As a
condition to its participation in the Exchange Offer pursuant to the terms of this Agreement, each
Holder of Transfer Restricted Securities shall furnish, upon the request of the Issuers, prior to
the Consummation thereof, a written representation to the Issuers (which may be contained in the
letter of transmittal contemplated by the Exchange Offer Registration Statement) to the effect that
(A) it is not an affiliate (within the meaning of Rule 405 under the Securities Act) of either of
the Issuers, (B) it is not engaged in, and does not intend to engage in, and has no arrangement or
understanding with any Person to participate in, a distribution of the Exchange Securities to be
issued in the Exchange Offer and (C) it is acquiring the Exchange Securities in its ordinary course
of business. In addition, all such Holders of Transfer Restricted Securities shall otherwise
cooperate in the Issuers’ preparations for the Exchange Offer. Each Holder hereby acknowledges and
agrees that any Broker-Dealer and any such Holder using the Exchange Offer to participate in a
distribution of the securities to be acquired in the Exchange Offer (1) could not under Commission
policy as in effect on the date of this Agreement rely on the position of the Commission enunciated
in Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon Capital Holdings
Corporation (available May 13, 1988), as interpreted in the Commission’s letter to Shearman &
Sterling dated July 2, 1993, and similar no-action letters, and (2) must comply with the
registration and prospectus delivery requirements of the Securities Act in connection with a
secondary resale transaction and that such a secondary resale transaction should be covered by an
effective registration statement containing the selling security holder information required by
Item 507 or 508, as applicable, of Regulation S-K if the resales are of Exchange Securities
obtained by such Holder in exchange for Initial Securities acquired by such Holder directly from
the Issuers.

     (b) Shelf Registration Statement. In connection with the Shelf Registration Statement, the
Issuers shall comply with all the provisions of Section 6(c) hereof and shall use commercially
reasonable efforts to effect such registration to permit the sale of the Transfer Restricted
Securities being sold in accordance with the intended method or methods of distribution thereof,
and pursuant thereto the Issuers will prepare and file with the Commission a
Registration Statement relating to the registration on any appropriate form under the
Securities Act, which form shall be available for the sale of the Transfer Restricted Securities in
accordance with the intended method or methods of distribution thereof.

     (c) General Provisions. In connection with any Registration Statement and any Prospectus
required by this Agreement to permit the sale or resale of Transfer Restricted Securities
(including, without limitation, any Registration Statement and the related Prospectus required to
permit resales of Initial Securities by Broker-Dealers), the Issuers shall:

7

 

     (i) use commercially reasonable efforts to keep such Registration Statement
continuously effective and provide all requisite financial statements for the period
specified in Section 3 or 4 hereof, as applicable; upon the occurrence of any event that
would cause any such Registration Statement or the Prospectus contained therein (A) to
contain a material misstatement or omission or (B) not to be effective and usable for resale
of Transfer Restricted Securities during the period required by this Agreement, the Issuers
shall file promptly an appropriate amendment to such Registration Statement, in the case of
clause (A), correcting any such misstatement or omission, and, in the case of either clause
(A) or (B), use commercially reasonable efforts to cause such amendment to be declared
effective and such Registration Statement and the related Prospectus to become usable for
their intended purpose(s) as soon as practicable thereafter;

     (ii) prepare and file with the Commission such amendments and post-effective amendments
to the applicable Registration Statement as may be necessary to keep the Registration
Statement effective for the applicable period set forth in Section 3 or 4 hereof, as
applicable, or such shorter period as set forth in this Agreement; cause the Prospectus to
be supplemented by any required prospectus supplement, and as so supplemented to be filed
pursuant to Rule 424 under the Securities Act, and to comply fully with the applicable
provisions of Rules 424 and 430A under the Securities Act in a timely manner; and comply
with the provisions of the Securities Act with respect to the disposition of all securities
covered by such Registration Statement during the applicable period in accordance with the
intended method or methods of distribution by the sellers thereof set forth in such
Registration Statement or supplement to the Prospectus;

     (iii) advise the lead or managing underwriter, if any, and selling Holders promptly
and, if requested by such Persons, to confirm such advice in writing, (A) when the Shelf
Registration Statement or any post-effective amendment thereto is filed and when the same
has become effective, (B) of any request by the Commission for amendments to the
Registration Statement or amendments or supplements to the Prospectus or for additional
information relating thereto, (C) of the issuance by the Commission of any stop order
suspending the effectiveness of the Registration Statement under the Securities Act or of
the suspension by any state securities commission of the qualification of the Transfer
Restricted Securities for offering or sale in any jurisdiction, and (D) of the existence of
any fact or the happening of any event that makes any statement of a material fact made in
the Registration Statement, the Prospectus, any amendment or supplement thereto, or any
document incorporated by reference therein untrue, or that requires the making of any
additions to or changes in the Registration Statement or the Prospectus in order to make the
statements therein (with respect to the
Prospectus, in the light of the circumstances under which they were made) not
misleading. If at any time the Commission shall issue any stop order suspending the
effectiveness of the Registration Statement, or any state securities commission or other
regulatory authority shall issue an order suspending the qualification or exemption from
qualification of the Transfer Restricted Securities under state securities or blue sky laws,
the Issuers shall use commercially reasonable efforts to obtain the withdrawal or lifting of
such order at the earliest possible time;

8

 

     (iv) in the case of a Shelf Registration Statement, furnish without charge to the
Initial Purchasers, each selling Holder named in any Registration Statement, and each of the
underwriter(s), if any, before filing with the Commission, copies of any Registration
Statement or any Prospectus included therein or any amendments or supplements to any such
Registration Statement or Prospectus, which documents will be subject to the review and
comment of such Holders and underwriter(s) in connection with such sale, if any, for a
period of at least two Business Days; and not file any such Registration Statement or
Prospectus or any amendment or supplement to any such Registration Statement or Prospectus
(including all such documents incorporated by reference) to which an Initial Purchaser of
Transfer Restricted Securities covered by such Registration Statement or the lead or
managing underwriter(s), if any, shall reasonably object in writing within two Business Days
after the receipt thereof (such objection to be deemed timely made upon confirmation of
telecopy transmission within such period;

     (v) in the case of a Shelf Registration Statement, make available during normal
business hours for inspection by the Initial Purchasers, the managing underwriter(s), if
any, participating in any disposition pursuant to such Shelf Registration Statement and any
attorney or accountant retained by the Initial Purchasers or the lead or managing
underwriter, all financial and other records, pertinent corporate documents and properties
of the Issuers and cause the Issuers’ officers, directors and employees to supply all
information reasonably requested by any such Holder, underwriter, attorney or accountant in
connection with such Shelf Registration Statement or any post-effective amendment thereto
subsequent to the filing thereof and prior to its effectiveness, in each case, that would
customarily be reviewed in connection with a “due diligence” review of the Issuers;

     (vi) in the case of a Shelf Registration Statement, if requested by any Holder,
promptly incorporate in such Prospectus, pursuant to a supplement, such information as such
selling Holders and the lead or managing underwriter, if any, may reasonably request to have
included therein, including, without limitation, information relating to the “Plan of
Distribution” of the Transfer Restricted Securities, information with respect to the
principal amount of Transfer Restricted Securities being sold to such underwriter(s), the
purchase price being paid therefor and any other terms of the offering of the Transfer
Restricted Securities to be sold in such offering; and make all required filings of such
prospectus supplement as soon as practicable after the Partnership is notified of the
matters to be incorporated in such prospectus supplement;

     (vii) in the case of a Shelf Registration Statement, furnish to each Initial Purchaser,
each selling Holder and each of the underwriter(s), if any, without charge, at
least one copy of such Shelf Registration Statement, as first filed with the
Commission, and of each amendment thereto, including, if they so request, financial
statements and schedules, all documents incorporated by reference therein and all exhibits
(including exhibits incorporated therein by reference);

     (viii) in the case of a Shelf Registration Statement, deliver to each selling Holder
and each of the underwriter(s), if any, without charge, as many copies of the Prospectus
(including each preliminary prospectus) and any amendment or supplement thereto as such
Persons reasonably may request; the Issuers hereby consent to the use of the Prospectus and
any amendment or supplement

9

 

thereto by each of the selling Holders and each of the
underwriter(s), if any, in connection with the offering and the sale of the Transfer
Restricted Securities covered by the Prospectus or any amendment or supplement thereto;

     (ix) in the case of a Shelf Registration Statement, upon the request of a majority of
the Holders of Transfer Restricted Securities, enter into such agreements (including an
underwriting agreement), and make such representations and warranties, and take all such
other actions in connection therewith in order to expedite or facilitate the disposition of
the Transfer Restricted Securities in connection with any resale pursuant to any Shelf
Registration Statement contemplated by this Agreement in an Underwritten Offering, and the
Issuers shall:

          (A) furnish to each Initial Purchaser, each selling Holder and each
underwriter, if any, in such substance and scope as they may reasonably request
and as are customarily made by issuers to underwriters in secondary underwritten
offerings, upon the effectiveness of the Shelf Registration Statement:

               (1) opinions of counsel for the Issuers, covering such matters as are
customarily covered in opinions requested in secondary underwritten
offerings; and

               (2) a comfort letter from the Partnership’s registered independent
public accountants, in the customary form and covering matters of the type
customarily requested to be covered in comfort letters by underwriters in
connection with secondary underwritten offerings;

          (B) enter into an underwriting agreement with the underwriters, or
representatives thereof, that contains customary terms and provisions for an
Underwritten Offering, including indemnification provisions in favor of the
underwriters and the selling unitholders; and

          (C) deliver such other documents and certificates as may be reasonably
requested by the Holders of a majority of the Transfer Restricted Securities to
evidence compliance with this Section 6(c)(ix) and with any customary conditions
contained in the underwriting agreement or other agreement entered into by the
Issuers pursuant to this Section 6(c)(ix), if any.

     If at any time the representations and warranties of the Issuers contemplated in this
Section 6(c)(ix) cease to be true and correct, the Issuers shall so advise the Initial
Purchasers and the underwriter(s), if any, and each selling Holder promptly and, if
requested by such Persons, shall confirm such advice in writing;

     (x) in the case of any Shelf Registration Statement, prior to any public offering of
Transfer Restricted Securities pursuant thereto, cooperate with the selling Holders, the
underwriter(s), if any, and their respective counsel in connection with the

10

 

registration and
qualification of the Transfer Restricted Securities under the state securities or blue sky
laws of such jurisdictions as the selling Holders or underwriter(s), if any, may request and
do any and all other acts or things reasonably necessary or advisable to enable the
disposition in such jurisdictions of the Transfer Restricted Securities covered by the Shelf
Registration Statement; provided, however, that none of the Issuers shall be required to
register or qualify as a foreign corporation where it is not then so qualified or to take
any action that would subject it to the service of process in suits or to taxation in any
jurisdiction where it is not then so subject;

     (xi) in the case of a Shelf Registration Statement, cooperate with the selling Holders
and the underwriter(s), if any, to facilitate the timely preparation and delivery of
certificates representing Transfer Restricted Securities to be sold and not bearing any
restrictive legends; and enable such Transfer Restricted Securities to be in such
denominations and registered in such names as the Holders or the underwriter(s), if any, may
request at least two Business Days prior to any sale of Transfer Restricted Securities made
by such Holders or underwriter(s);

     (xii) if any fact or event contemplated by Section 6(c)(iii)(D) hereof shall exist or
have occurred, prepare a supplement or post-effective amendment to the Registration
Statement or related Prospectus or any document incorporated therein by reference or file
any other required document so that, as thereafter delivered to the purchasers of Transfer
Restricted Securities, the Prospectus will not contain an untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading;

     (xiii) provide a CUSIP number for all Securities not later than the effective date of
the Registration Statement covering such Securities and provide the Trustee under the
Indenture with one or more global certificates for such Securities which are in a form
eligible for deposit with The Depository Trust Company and take all other action necessary
to ensure that all such Securities are eligible for deposit with The Depository Trust
Company;

     (xiv) cooperate with and assist each selling Holder in connection with any filings
required to be made with the NASD;

     (xv) otherwise use commercially reasonable efforts to comply with all applicable rules
and regulations of the Commission, and make generally available to its security holders, as
soon as practicable, a consolidated earnings statement meeting the
requirements of Rule 158 (which need not be audited) for the twelve-month period (A)
commencing at the end of any fiscal quarter in which Transfer Restricted Securities are sold
to underwriters in a firm commitment or best efforts Underwritten Offering or (B) if not
sold to underwriters in such an offering, beginning with the first month of the
Partnership’s first fiscal quarter commencing after the effective date of the Registration
Statement; and

11

 

          (xvi) cause the Indenture to be qualified under the Trust Indenture Act not later than
the effective date of the first Registration Statement required by this Agreement, and, in
connection therewith, cooperate with the Trustee and the Holders of Securities to effect
such changes to the Indenture as may be required for such Indenture to be so qualified in
accordance with the terms of the Trust Indenture Act; and to execute and use commercially
reasonable efforts to cause the Trustee to execute, all documents that may be required to
effect such changes and all other forms and documents required to be filed with the
Commission to enable such Indenture to be so qualified in a timely manner.

     Each Holder agrees by acquisition of a Transfer Restricted Security that, upon receipt of any
notice from the Partnership of the existence of any fact of the kind described in Section
6(c)(iii)(D) hereof or any Blackout Period described in Section 4(a) hereof, such Holder will
forthwith discontinue disposition of Transfer Restricted Securities pursuant to the applicable
Registration Statement until such Holder’s receipt of the copies of the supplemented or amended
Prospectus contemplated by Section 6(c)(xii) hereof, or until it is advised (the “Advice”)
by the Partnership that the use of the Prospectus may be resumed, and has received copies of any
additional or supplemental filings that are incorporated by reference in the Prospectus. If so
directed by the Partnership, each Holder will deliver to the Issuers (at the Partnership’s expense)
all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus
covering such Transfer Restricted Securities that was current at the time of receipt of such
notice. In the event the Partnership shall give any such notice, the time period regarding the
effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable,
shall be extended by the number of days during the period from and including the date of the giving
of such notice pursuant to Section 6(c)(iii)(D) hereof or notice of any Blackout Period to and
including the date when each selling Holder covered by such Registration Statement shall have
received the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xii)
hereof or shall have received the Advice.

     Section 7. Registration Expenses.

     (a) All expenses incident to the Issuers’ performance of, or compliance with, this Agreement
will be borne by the Issuers, jointly and severally, regardless of whether a Registration Statement
becomes effective, including, without limitation: (i) all registration and filing fees and expenses
(including filings made by any Initial Purchaser or Holder with the NASD); (ii) all fees and
expenses of compliance with federal securities and state securities or blue sky laws; (iii) all
expenses of printing (including printing certificates for the Exchange Securities to be issued in
the Exchange Offer and printing of Prospectuses), messenger and delivery services and telephone;
(iv) all fees and disbursements of counsel for the Issuers and, subject to Section 7(b) hereof, the
Holders of Transfer Restricted Securities; (v) all application
and filing fees in connection with listing the Exchange Securities on a securities exchange or
automated quotation system pursuant to the requirements thereof; (vi) all fees and disbursements of
independent certified public accountants of the Issuers (including the expenses of any special
audit and comfort letters required by or incident to such performance) and (vii) all fees and
disbursements of the Trustee and its counsel.

12

 

     The Issuers will, in any event, bear their internal expenses (including, without limitation,
all salaries and expenses of their officers and employees performing legal or accounting duties),
the expenses of any annual audit and the fees and expenses of any Person, including special
experts, retained by the Issuers.

     (b) In connection with any Shelf Registration Statement, the Issuers, jointly and severally,
will reimburse the Holders of Transfer Restricted Securities being registered pursuant to the Shelf
Registration Statement for the reasonable fees and disbursements of not more than one counsel, who
shall be Vinson & Elkins L.L.P. or such other counsel as may be chosen by the Holders of a majority
in principal amount of the Transfer Restricted Securities for whose benefit such Registration
Statement is being prepared.

     Section 8. Indemnification.

     (a) The Issuers, jointly and severally, agree to indemnify and hold harmless (i) each Holder
and (ii) each Person, if any, who controls (within the meaning of Section 15 of the Securities Act
or Section 20 of the Exchange Act) any such Holder or is controlled by such Holder (any of the
Persons referred to in this clause (ii) being hereinafter referred to as a “Participant”)
(any Person referred to in clause (i) or (ii) may hereinafter be referred to as an “Indemnified
Holder”), to the fullest extent lawful, from and against any and all losses, claims, damages,
liabilities or actions (including, without limitation, and as incurred, reimbursement of each such
Indemnified Holder for any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action) arising out of or
based upon any untrue statement or alleged untrue statement of a material fact contained in any
Registration Statement or Prospectus (or any amendment or supplement thereto), or any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein (with respect to the Prospectus, in the light of the circumstances
under which they were made) not misleading, except insofar as such losses, claims, damages,
liabilities or actions are caused by an untrue statement or omission or alleged untrue statement or
omission that is made in reliance upon and in conformity with information relating to any of the
Holders furnished in writing to the Partnership by or on behalf of any of the Holders expressly for
use therein. This indemnity agreement shall be in addition to any liability that the Issuers may
otherwise have.

     In case any action or proceeding (including any governmental or regulatory investigation or
proceeding) shall be brought or asserted against any of the Indemnified Holders with respect to
which indemnity may be sought against either Issuer, such Indemnified Holder (or the Indemnified
Holder controlled by or controlling such Participant) shall promptly notify the Issuers in writing;
provided, however, that the failure to give such notice shall not relieve any of the Issuers of its
obligations pursuant to this Agreement unless either Issuer is materially prejudiced by such
delay. Upon the request of an Indemnified Holder, the Issuers shall retain
counsel reasonably satisfactory to such Indemnified Holder to represent such Indemnified Party
and any others the Issuers may designate in such proceeding and the fees and expenses of such
counsel shall be paid, as incurred, by the Issuers. The Issuers shall not, in connection with any
one such action or proceeding or separate but substantially similar or related actions or
proceedings in the same jurisdiction arising out of the same general allegations or circumstances,
be liable for the reasonable fees and expenses of more than one separate firm of attorneys (in

13

 

addition to any local counsel) at any time for such Indemnified Holders. The Issuers shall not be
liable for any settlement of any such action or proceeding effected without the Issuers’ prior
written consent, but if settled with such consent, the Issuers agree to indemnify and hold harmless
any Indemnified Holder from and against any loss, claim, damage, liability or action by reason of
such settlement. The Issuers shall not, without the prior written consent of each Indemnified
Holder, settle or compromise or consent to the entry of judgment in or otherwise seek to terminate
any pending or threatened action, claim, litigation or proceeding in respect of which
indemnification or contribution may be sought hereunder (whether or not any Indemnified Holder is a
party thereto), unless such settlement, compromise, consent or termination includes an
unconditional release of each Indemnified Holder from all liability arising out of such action,
claim, litigation or proceeding.

     (b) Each Holder of Transfer Restricted Securities agrees, severally and not jointly, to
indemnify and hold harmless the Issuers, the officers and directors of the Issuers who sign a
Registration Statement, any Person controlling (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) either Issuer, the Initial Purchasers and the other selling
Holders , to the same extent as the foregoing indemnity from the Issuers to each of the Indemnified
Holders, but only with respect to claims and actions based on information relating to such Holder
furnished in writing by or on behalf of such Holder expressly for use in any Registration Statement
or Prospectus. In case any action or proceeding shall be brought against the Issuers or their
respective directors or officers or any such Participant in respect of which indemnity may be
sought against a Holder of Transfer Restricted Securities, such Holder shall have the rights and
duties given the Issuers, and the Issuers, their respective directors and officers and such
Participant shall have the rights and duties given to each Holder by the preceding paragraph. This
indemnity agreement shall be in addition to any liability that the Holders of Transfer Restricted
Securities may otherwise have.

     (c) If the indemnification provided for in this Section 8 is unavailable to an indemnified
party under Section 8(a) or (b) hereof (other than by reason of exceptions provided in those
Sections) in respect of any losses, claims, damages, liabilities or actions referred to therein,
then each applicable indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result of such losses,
claims, damages, liabilities or actions (including any reasonable legal or other expenses
reasonably incurred in connection with investigating or defending same) in such proportion as is
appropriate to reflect the relative fault of the Issuers, on the one hand, and the Holders, on the
other hand, in connection with the statements or omissions which resulted in such losses, claims,
damages, liabilities or actions, as well as any other relevant equitable considerations. The
relative fault of the Issuers on the one hand and of the Indemnified Holder on the other shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact relates to information
supplied by the Issuers, on the one hand, or the Indemnified Holders, on the other
hand, and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. The amount paid or payable by a party as a result
of the losses, claims, damages, liabilities or actions referred to above shall be deemed to
include, subject to the limitations set forth in the second paragraph of Section 8(a) hereof, any
legal or other fees or expenses reasonably incurred by such party in connection with investigating
or defending any action or claim.

14

 

     The Issuers and each Holder of Transfer Restricted Securities agree that it would not be just
and equitable if contribution pursuant to this Section 8(c) were determined by pro rata allocation
(even if the Holders were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred to in the
immediately preceding paragraph. The amount paid or payable by an indemnified party as a result of
the losses, claims, damages, liabilities or actions referred to in the immediately preceding
paragraph shall be deemed to include, subject to the limitations set forth above, any reasonable
legal or other expenses reasonably incurred by such indemnified party in connection with
investigating or defending any such action or claim. Notwithstanding the provisions of this
Section 8, none of the Holders (and its related Indemnified Holders) shall be required to
contribute, in the aggregate, any amount in excess of the amount by which the aggregate price at
which Transfer Restricted Securities were sold by such Holder exceeds the amount of any damages
which such Holder has otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from
any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to
contribute pursuant to this Section 8(c) are several in proportion to the respective principal
amount of Initial Securities held by each of the Holders hereunder and not joint.

     Section 9. Rule 144 and 144A Information. The Issuers hereby agree with each Holder, for so long
as any Transfer Restricted Securities remain outstanding, to make available to any Holder or
beneficial owner of Transfer Restricted Securities in connection with any sale thereof and any
prospective purchaser of such Transfer Restricted Securities from such Holder or beneficial owner,
the information required by Rule 144A(d)(4) under the Securities Act in order to permit resales of
such Transfer Restricted Securities pursuant to Rule 144A under the Securities Act.

     Section 10. Participation in Underwritten Offerings. No Holder may participate in any Underwritten
Offering hereunder unless such Holder (a) agrees to sell such Holder’s Transfer Restricted
Securities on the basis provided in any underwriting arrangements approved by the Persons entitled
hereunder to approve such arrangements and (b) completes and executes all reasonable
questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other
documents required under the terms of such underwriting arrangements.

     Section 11. Selection of Underwriters
The Holders of Transfer Restricted Securities covered by the Shelf Registration Statement who
desire to do so may sell such Transfer Restricted Securities in an Underwritten Offering. In any
such Underwritten Offering, the investment banker(s) and managing underwriter(s) that will
administer such offering will be selected by the Holders of a majority in aggregate principal
amount of the Transfer Restricted Securities included in such offering; provided, however, that
such investment banker(s) and managing underwriter(s) must be reasonably satisfactory to the
Issuers.

     Section 12. Miscellaneous.

     (a) Remedies. The provisions for Additional Interest in Section 5 during a Registration
Default shall be the only monetary remedy available to Holders hereunder. The

15

 

Issuers hereby agree
that monetary damages would not be adequate compensation for any loss incurred by reason of a
breach by them of any other provisions of this Agreement and hereby agree to waive the defense in
any action for specific performance that a remedy at law would be adequate.

     (b) No Inconsistent Agreements. The Issuers have not and, on or after the date of this
Agreement will not enter into any agreement with respect to its securities that is inconsistent
with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions
hereof. The rights granted to the Holders hereunder do not in any way conflict with and are not
inconsistent with the rights granted to the holders of the Issuers’ securities under any agreement
in effect on the date hereof.

     (c) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or
supplemented, and waivers or consents to or departures from the provisions hereof may not be given
unless the Issuers have obtained the written consent of Holders of a majority of the outstanding
principal amount of Transfer Restricted Securities. Notwithstanding the foregoing, a waiver or
consent to departure from the provisions hereof that relates exclusively to the rights of Holders
whose securities are being tendered pursuant to the Exchange Offer and that does not affect
directly or indirectly the rights of other Holders whose securities are not being tendered pursuant
to such Exchange Offer may be given by the Holders of a majority of the outstanding principal
amount of Transfer Restricted Securities being tendered or registered; provided, however, that,
with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser
hereunder, the Issuers shall obtain the written consent of each such Initial Purchaser with respect
to which such amendment, qualification, supplement, waiver, consent or departure is to be
effective.

     (d) Notices. All notices and other communications provided for or permitted hereunder shall
be made in writing by hand-delivery, first-class mail (registered or certified, return receipt
requested), telex, telecopier, or air courier guaranteeing overnight delivery:

          (i) if to a Holder, at the address set forth on the records of the Registrar under the
Indenture, with a copy to the Registrar under the Indenture;

          (ii) if to the Issuers, initially at their addresses set forth in the Purchase
Agreement;

          (iii) if to the Initial Purchasers, initially at the address or addresses set forth in
the Purchase Agreement with respect to the Representatives.

     All such notices and communications shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if
telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing
overnight delivery.

     Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee at the address specified in the Indenture.

16

 

     (e) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors and assigns of each of the parties, including, without limitation, and without the
need for an express assignment, subsequent Holders of Transfer Restricted Securities; provided,
however, that this Agreement shall not inure to the benefit of or be binding upon a successor or
assign of a Holder unless and to the extent such successor or assign acquired Transfer Restricted
Securities from such Holder.

     (f) Counterparts. This Agreement 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.

     (g) Headings. The headings in this Agreement are for convenience of reference only and shall
not limit or otherwise affect the meaning hereof.

     (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICTS OF LAW RULES THEREOF.

     (i) Severability. In the event that any one or more of the provisions contained herein, or
the application thereof in any circumstance, is held invalid, illegal or unenforceable, the
validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired thereby.

     (j) Entire Agreement. This Agreement is intended by the parties as a final expression of
their agreement and intended to be a complete and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein. There are
no restrictions, promises, warranties or undertakings, other than those set forth or referred to
herein with respect to the registration rights granted by the Issuers with respect to the Transfer
Restricted Securities. This Agreement supersedes all prior agreements and understandings among the
parties with respect to such subject matter.

[Signature page follows.]

17

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.

	 	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Williams Partners GP LLC,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Rodney J. Sailor	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Rodney J. Sailor	 	 
	 	 	Title: Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS FINANCE CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Rodney J. Sailor	 	 
	 

	 	 	 	 	 	 
	 	 	Name:Rodney J. Sailor	 	 
	 	 	Title: Treasurer	 	 
	 
	 	 	 	 	 	 

The foregoing Agreement is hereby

confirmed and accepted as of the

date first above written.

For themselves and the other several

Initial Purchasers named in Schedule I 

to the Purchase Agreement.

CITIGROUP GLOBAL MARKETS INC.

	 	 	 	 	 
	By:

	 	/s/ Michael Casey	 	 
	 

	 	 	 	 
	 

	 	Name: Michael Casey
	 	 
	 

	 	Title: Vice President	 	 
	 
	 	 	 	 
	LEHMAN BROTHERS INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ J. Scott Schlossel	 	 
	 

	 	 	 	 
	 

	 	Name: J. Scott Schlossel	 	 
	 

	 	Title: Managing Director	 	 
	 
	 	 	 	 
	MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
	 
	 	 	 	 
	By:

	 	/s/ Aaron R. Hoover	 	 
	 

	 	 	 	 
	 

	 	Name: Aaron R. Hoover	 	 
	 

	 	Title: Managing Director	 	 

Signature Page to Registration Rights Agreement

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