Document:

EX-4.1

 

Exhibit 4.1

INDENTURE

SENIOR SECURITIES

MARCH 18, 2008

PPG INDUSTRIES, INC.,

Issuer

and

THE BANK OF NEW YORK TRUST COMPANY, N.A.,

Trustee

 

 

Table of Contents

	 	 	 	 	 	 	 
	Contents	 	 	 	Page
	 
	 	 	 	 	 	 
	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 	 	1	 
	Section 1.01
	 	Definitions	 	 	1	 
	Section 1.02
	 	Compliance Certificates and Opinions	 	 	6	 
	Section 1.03
	 	Form of Documents Delivered to Trustee	 	 	6	 
	Section 1.04
	 	Acts of Holders; Record Dates	 	 	7	 
	Section 1.05
	 	Notices, Etc., to Trustee and Company	 	 	8	 
	Section 1.06
	 	Notice to Holders; Waiver	 	 	9	 
	Section 1.07
	 	Conflict with Trust Indenture Act	 	 	9	 
	Section 1.08
	 	Effect of Headings and Table of Contents	 	 	10	 
	Section 1.09
	 	Successors and Assigns	 	 	10	 
	Section 1.10
	 	Separability Clause	 	 	10	 
	Section 1.11
	 	Benefits of Indenture	 	 	10	 
	Section 1.12
	 	Governing Law	 	 	10	 
	Section 1.13
	 	Legal Holidays	 	 	10	 
	Section 1.14
	 	Waiver of Jury Trial	 	 	10	 
	Section 1.15
	 	Force Majeure	 	 	10	 
	 
	 	 	 	 	 	 
	ARTICLE II SECURITY FORMS	 	 	11	 
	Section 2.01
	 	Forms Generally	 	 	11	 
	Section 2.02
	 	Form of Face of Security	 	 	11	 
	Section 2.03
	 	Form of Reverse of Security	 	 	13	 
	Section 2.04
	 	Form of Legend for Global Securities	 	 	17	 
	Section 2.05
	 	Form of Trustee’s Certificate of Authentication	 	 	17	 
	 
	 	 	 	 	 	 
	ARTICLE III THE SECURITIES	 	 	17	 
	Section 3.01
	 	Amount Unlimited; Issuable in Series	 	 	17	 
	Section 3.02
	 	Denominations	 	 	19	 
	Section 3.03
	 	Execution, Authentication, Delivery and Dating	 	 	20	 
	Section 3.04
	 	Temporary Securities	 	 	21	 
	Section 3.05
	 	Registration, Registration of Transfer and Exchange	 	 	21	 
	Section 3.06
	 	Mutilated, Destroyed, Lost and Stolen Securities	 	 	22	 
	Section 3.07
	 	Payment of Interest; Interest Rights Preserved	 	 	23	 
	Section 3.08
	 	Persons Deemed Owners	 	 	24	 
	Section 3.09
	 	Cancellation	 	 	24	 
	Section 3.10
	 	Computation of Interest	 	 	25	 
	Section 3.11
	 	CUSIP Numbers	 	 	25	 
	 
	 	 	 	 	 	 
	ARTICLE IV SATISFACTION AND DISCHARGE	 	 	25	 
	Section 4.01
	 	Satisfaction and Discharge of Indenture	 	 	25	 
	Section 4.02
	 	Application of Trust Money	 	 	26	 
	 
	 	 	 	 	 	 
	ARTICLE V REMEDIES	 	 	26	 
	Section 5.01
	 	Events of Default	 	 	26	 
	Section 5.02
	 	Acceleration of Maturity; Rescission and Annulment	 	 	27	 

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	Contents	 	 	 	Page
	 
	 	 	 	 	 	 
	Section 5.03
	 	Collection and Suits for Enforcement by Trustee	 	 	28	 
	Section 5.04
	 	Trustee May File Proofs of Claim	 	 	28	 
	Section 5.05
	 	Trustee May Enforce Claims Without Possession of Securities	 	 	29	 
	Section 5.06
	 	Application of Money Collected	 	 	29	 
	Section 5.07
	 	Limitation on Suits	 	 	29	 
	Section 5.08
	 	Unconditional Right of Holders to Receive Principal, Premium and Interest	 	 	30	 
	Section 5.09
	 	Restoration of Rights and Remedies	 	 	30	 
	Section 5.10
	 	Rights and Remedies Cumulative	 	 	30	 
	Section 5.11
	 	Delay or Omission Not Waiver	 	 	30	 
	Section 5.12
	 	Control by Holders	 	 	30	 
	Section 5.13
	 	Section 5.13 Waiver of Past Defaults	 	 	31	 
	Section 5.14
	 	Undertaking for Costs	 	 	31	 
	Section 5.15
	 	Waiver of Usury, Stay or Extension Laws	 	 	31	 
	 
	 	 	 	 	 	 
	ARTICLE VI THE TRUSTEE	 	 	31	 
	Section 6.01
	 	Duties of Trustee	 	 	32	 
	Section 6.02
	 	Rights of Trustee	 	 	32	 
	Section 6.03
	 	Individual Rights of Trustee	 	 	33	 
	Section 6.04
	 	Trustee's Disclaimer	 	 	34	 
	Section 6.05
	 	Notice of Default	 	 	34	 
	Section 6.06
	 	Reports by Trustee to Holders	 	 	34	 
	Section 6.07
	 	Compensation and Indemnity	 	 	34	 
	Section 6.08
	 	Replacement of Trustee	 	 	35	 
	Section 6.09
	 	Successor Trustee by Merger, Etc.	 	 	36	 
	Section 6.10
	 	Eligibility; Disqualification	 	 	36	 
	Section 6.11
	 	Preferential Collection of Claims against Company	 	 	36	 
	 
	 	 	 	 	 	 
	ARTICLE VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	 	 	36	 
	Section 7.01
	 	Company to Furnish Trustee Names and Addresses of Holders	 	 	36	 
	Section 7.02
	 	Preservation of Information; Communications to Holders	 	 	36	 
	Section 7.03
	 	Reports by Trustee	 	 	37	 
	Section 7.04
	 	Reports by Company	 	 	37	 
	 
	 	 	 	 	 	 
	ARTICLE VIII CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	 	 	37	 
	Section 8.01
	 	When Company May Merge, Etc.	 	 	37	 
	Section 8.02
	 	Successor Substituted	 	 	38	 
	 
	 	 	 	 	 	 
	ARTICLE IX SUPPLEMENTAL INDENTURES	 	 	38	 
	Section 9.01
	 	Supplemental Indentures Without Consent of Holders	 	 	38	 
	Section 9.02
	 	Supplemental Indentures with Consent of Holders	 	 	39	 
	Section 9.03
	 	Execution of Supplemental Indentures	 	 	40	 
	Section 9.04
	 	Effect of Supplemental Indentures	 	 	40	 
	Section 9.05
	 	Conformity with Trust Indenture Act	 	 	40	 
	Section 9.06
	 	Reference in Securities to Supplemental Indentures	 	 	40	 
	 
	 	 	 	 	 	 
	ARTICLE X COVENANTS	 	 	41	 
	Section 10.01
	 	Payment of Securities	 	 	41	 
	Section 10.02
	 	Maintenance of Office or Agency	 	 	41	 
	Section 10.03
	 	Money for Securities Payments to Be Held in Trust	 	 	41	 

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	Contents	 	 	 	Page
	 
	 	 	 	 	 	 
	Section 10.04
	 	Compliance Certificate; Notice of Default	 	 	42	 
	Section 10.05
	 	Corporate Existence	 	 	42	 
	Section 10.06
	 	Waiver of Certain Covenants	 	 	43	 
	 
	 	 	 	 	 	 
	ARTICLE XI REDEMPTION OF SECURITIES	 	 	43	 
	Section 11.01
	 	Applicability of Article	 	 	43	 
	Section 11.02
	 	Election to Redeem; Notice to Trustee	 	 	43	 
	Section 11.03
	 	Selection by Trustee of Securities to Be Redeemed	 	 	43	 
	Section 11.04
	 	Notice of Redemption	 	 	44	 
	Section 11.05
	 	Deposit of Redemption Price	 	 	44	 
	Section 11.06
	 	Securities Payable on Redemption Date	 	 	45	 
	Section 11.07
	 	Securities Redeemed in Part	 	 	45	 
	 
	 	 	 	 	 	 
	ARTICLE XII SINKING FUNDS	 	 	45	 
	Section 12.01
	 	Applicability of Article	 	 	45	 
	Section 12.02
	 	Satisfaction of Sinking Fund Payments with Securities	 	 	46	 
	Section 12.03
	 	Redemption of Securities for Sinking Fund	 	 	46	 
	 
	 	 	 	 	 	 
	ARTICLE XIII DEFEASANCE AND COVENANT DEFEASANCE	 	 	46	 
	Section 13.01
	 	Company’s Option to Effect Defeasance or Covenant Defeasance	 	 	46	 
	Section 13.02
	 	Defeasance and Discharge	 	 	46	 
	Section 13.03
	 	Covenant Defeasance	 	 	47	 
	Section 13.04
	 	Conditions to Defeasance or Covenant Defeasance	 	 	47	 
	Section 13.05
	 	Deposited Money and U.S. Government Obligations to be Held in Trust; Other	 	 	 	 
	 
	 	Miscellaneous Provisions	 	 	49	 
	Section 13.06
	 	Reinstatement	 	 	49	 

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INDENTURE, dated as of March 18, 2008, between PPG Industries, Inc., a corporation duly organized
and existing under the laws of Pennsylvania (herein called the “Company”), having its principal
office at One PPG Place, Pittsburgh, PA 15272, and The Bank of New York Trust Company, N.A., a
national banking association, as Trustee (herein called the “Trustee”).

RECITALS OF THE COMPANY

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

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

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE I

DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

Section 1.01 Definitions

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

	(1)	 	the terms defined in this Article have the meanings assigned to them in this Article and
include the plural as well as the singular;
	 
	(2)	 	all other terms used herein which are defined in the Trust Indenture Act, either directly or
by reference therein, have the meanings assigned to them therein;
	 
	(3)	 	all accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with generally accepted accounting principles, and, except as otherwise herein
expressly provided, the term GAAP with respect to any computation required or permitted
hereunder shall mean such accounting principles as are generally accepted at the date of such
computation;
	 
	(4)	 	the words “Article” and “Section” refer to an Article and Section, respectively, of this
Indenture;
	 
	(5)	 	the words “herein”, “hereof” and “hereunder” and other words of similar import refer to this
Indenture as a whole and not to any particular Article, Section or other subdivision; and
	 
	(6)	 	Certain terms used principally in Articles III, V, XII and XIII are defined in those
Articles.
	 
	 	 	“Act”, when used with respect to any Holder, has the meaning specified in Section 1.04.
	 
	 	 	“Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For
the purposes of this definition, “control” when used with respect to any specified Person
means the power to direct the management and policies of such Person, directly or indirectly,
whether

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	 	 	through the ownership of voting securities, by contract or otherwise; and the terms
“controlling” and “controlled” have meanings correlative to the foregoing.
	 
	 	 	“Bankruptcy Law” means Title 11, U.S. Code or any similar Federal, state or foreign law for
the relief of debtors.
	 
	 	 	“Board of Directors” means either the board of directors of the Company or any duly
authorized committee of that board.
	 
	 	 	“Business Day”, when used with respect to any Place of Payment, means each Monday, Tuesday,
Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place
of Payment are authorized or obligated by law or executive order to close.
	 
	 	 	“Commission” means the Securities and Exchange Commission, from time to time constituted,
created under the Exchange Act or, if at any time after the execution of this instrument such
Commission is not existing and performing the duties now assigned to it under the Trust
Indenture Act, then the body performing such duties at such time.
	 
	 	 	“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.
	 
	 	 	“Company Request” or “Company Order” means a written request or order signed in the name of
the Company by its Chairman of the Board, any Vice Chairman of the Board, its President or a
Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant
Secretary, and delivered to the Trustee.
	 
	 	 	“Corporate Trust Office” means the principal office of the Trustee in Chicago, Illinois at
which at any particular time its corporate trust business shall be administered, which office
as of the date hereof is located at 2 North LaSalle, Chicago, IL 60602, Attn: Global
Corporate Trust.
	 
	 	 	“Corporation” means a corporation, association, company, joint-stock company or business
trust.
	 
	 	 	“Covenant Defeasance” has the meaning specified in Section 13.03.
	 
	 	 	“Defaulted Interest” has the meaning specified in Section 3.07.
	 
	 	 	“Defeasance” has the meaning specified in Section 13.02.
	 
	 	 	“Defeasible Series” has the meaning specified in Section 13.01.
	 
	 	 	“Depositary” means, with respect to Securities of any series issuable in whole or in part in
the form of one or more Global Securities, a clearing agency registered under the Exchange
Act that is designated to act as Depositary for such Securities as contemplated by Section
3.01.
	 
	 	 	“Establishment Action” shall mean:

	 	(i)	 	a resolution duly adopted by the Company’s Board of Directors establishing one or
more series of Securities, authorizing the issuance of any Security and/or authorizing
any other action that may be taken by the Company in connection with this Indenture or
the Securities, or

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	 	(ii)	 	a resolution or action by a committee, officer or employee of the Corporation,
establishing one or more series of Securities, authorizing the issuance of any Security
and/or authorizing any other action that may be taken by the Company in connection with
this Indenture or the Securities, in each case, pursuant to a resolution duly adopted by
the Company’s Board of Directors.

“Event of Default” has the meaning specified in Section 5.01.

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

“GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Standards Board or in such
other statements by such other entity as have been approved by a significant segment of the
accounting profession.

“Global Security” means a Security that evidences all or part of the Securities of any series
and is authenticated and delivered to, and registered in the name of, the Depositary for such
Securities or a nominee thereof.

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

“Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant
to the applicable provisions hereof, including, for all purposes of this instrument, and any
such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be
a part of and govern this instrument and any such supplemental indenture, respectively. The
term “Indenture” shall also include the terms of particular series of Securities established
as contemplated by Section 3.01.

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

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

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

“Notice of Default” means a written notice of the kind specified in Section 5.01(4).

“Officers’ Certificate” means a certificate signed by the Chairman of the Board, a Vice
Chairman of the Board, the Chief Executive Officer, the President or a Vice President, and by
the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the
Company, and delivered to the Trustee.

“Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company.

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“Original Issue Discount Security” means any Security which provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 5.02.

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

(1) Securities theretofore cancelled by the Trustee or delivered to the Trustee for
cancellation;

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

(3) Securities as to which Defeasance has been effected pursuant to Section 13.02; and

(4) Securities which have been paid pursuant to Section 3.06 or in exchange for or in lieu of
which other Securities have been authenticated and delivered pursuant to this Indenture,
other than any such Securities in respect of which there shall have been presented to the
Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in
whose hands such Securities are valid obligations of the Company;

provided, however, that in determining whether the Holders of the requisite principal amount
of the Outstanding Securities have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, (A) the principal amount of an Original Issue Discount
Security that shall be deemed to be Outstanding shall be the amount of the principal thereof
that would be due and payable as of the date of such determination upon acceleration of the
Maturity thereof to such date pursuant to Section 5.02, (B) the principal amount of a
Security denominated in one or more foreign currencies or currency units shall be the U.S.
dollar equivalent, determined in the manner provided as contemplated by Section 3.01 on the
date of original issuance of such Security, of the principal amount (or, in the case of an
Original Issue Discount Security, the U.S. dollar equivalent on the date of original issuance
of such Security of the amount determined as provided in Clause (A) above) of such Security,
and (C) Securities owned by the Company or any other obligor upon the Securities or any
Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be protected in relying
upon any such request, demand, authorization, direction, notice, consent or waiver, only
Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be
so disregarded. Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right
so to act with respect to such Securities and that the pledgee is not the Company or any
other obligor upon the Securities or any Affiliate of the Company or of such other obligor.

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

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

“Place of Payment”, when used with respect to the Securities of any series, means the place
or places where the principal of and any premium and interest on the Securities of that
series are payable as specified as contemplated by Section 3.01.

“Predecessor Security” of any particular Security means every previous Security evidencing
all or a portion of the same debt as that evidenced by such particular Security; and, for the
purposes of this definition, any Security authenticated and delivered under Section 3.06 in
exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security.

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

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

“Regular Record Date” for the interest payable on any Interest Payment Date on the Securities
of any series means the date specified for that purpose as contemplated by Section 3.01.

“Responsible Officer”, when used with respect to the Trustee, means any officer of the
Trustee with direct responsibility for the administration of this Indenture and also means,
with respect to a particular corporate trust matter, any other officer of the Trustee to whom
such matter is referred because of his knowledge and familiarity with the particular subject.

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

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
of the Securities and Exchange Commission promulgated thereunder.

“Security Register” and “Security Registrar” have the respective meanings specified in
Section 3.05.

“Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 3.07.

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

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

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

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hereunder, and if at any time there is more than one such Person, “Trustee” as used with
respect to the Securities of any series shall mean each Trustee with respect to Securities of
that series.

“U.S. Government Obligations” has the meaning specified in Section 13.04.

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

Section 1.02 Compliance Certificates and Opinions

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

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

	(1)	 	a statement that each individual signing such certificate or opinion has read such covenant
or condition and the definitions herein relating thereto;
	 
	(2)	 	a brief statement as to the nature and scope of the examination or investigation upon which
the statements or opinions contained in such certificate or opinion are based;
	 
	(3)	 	a statement that, in the opinion of each such individual, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or
not such covenant or condition has been complied with; and
	 
	(4)	 	a statement as to whether, in the opinion of each such individual, such condition or covenant
has been complied with.

Section 1.03 Form of Documents Delivered to Trustee

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

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

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reasonable care should know, that the certificate or opinion or representations with respect to
such matters are erroneous.

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

Section 1.04 Acts of Holders; Record Dates

Any request, demand, authorization, direction, notice, consent, waiver or other action provided or
permitted by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by agent
duly appointed in writing; and, except as herein otherwise expressly provided, such action shall
become effective when such instrument or instruments are delivered to the Trustee and, where it is
hereby expressly required, to the Company. Such instrument or instruments (and the action embodied
therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing
such instrument or instruments. Proof of execution of any such instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to
Section 6.01) conclusive in favor of the Trustee and the Company, if made in the manner provided in
this Section.

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

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

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

The Company may, in the circumstances permitted by the Trust Indenture Act, set any day as the
record date for the purpose of determining the Holders of Outstanding Securities of any series
entitled to give or take any request, demand, authorization, direction, notice, consent, waiver or
other action provided or permitted by this Indenture to be given or taken by Holders of Securities
of such series. With regard to any record date set pursuant to this paragraph, the Holders of
Outstanding Securities of the relevant series on such record date (or their duly appointed agents),
and only such Persons, shall be entitled to give or take the relevant action, whether or not such
Holders remain Holders after such record date. With regard to any action that may be given or taken
hereunder only by Holders of a requisite principal amount of Outstanding Securities of any series
(or their duly appointed agents) and for which a record date is set pursuant to this paragraph, the
Company may, at its option, set an expiration date after which no such action purported to be given
or taken by any Holder shall be effective hereunder unless given or taken on or prior to such
expiration date by Holders of the requisite principal amount of Outstanding Securities of such
series on such record date (or their duly appointed

-7-

 

agents). On or prior to any expiration date set pursuant to this paragraph, the Company may, on one
or more occasions at its option, extend such date to any later date. Nothing in this paragraph
shall prevent any Holder (or any duly appointed agent thereof) from giving or taking, after any
such expiration date, any action identical to, or, at any time, contrary to or different from, the
action or purported action to which such expiration date relates, in which event the Company may
set a record date in respect thereof pursuant to this paragraph. Nothing in this paragraph shall be
construed to render ineffective any action taken at any time by the Holders (or their duly
appointed agents) of the requisite principal amount of Outstanding Securities of the relevant
series on the date such action is so taken. Notwithstanding the foregoing or the Trust Indenture
Act, the Company shall not set a record date for, and the provisions of this paragraph shall not
apply with respect to, any notice, declaration or direction referred to in the next paragraph.

The Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to join in the giving or making of (i) any Notice of
Default, (ii) any declaration of acceleration referred to in Section 5.02, if an Event of Default
with respect to Securities of such series has occurred and is continuing and the Trustee shall not
have given such a declaration to the Company, (iii) any request to institute proceedings referred
to in Section 5.07(2) or (iv) any direction referred to in Section 5.12, in each case with respect
to Securities of such series. Promptly after any record date is set pursuant to this paragraph, the
Trustee shall notify the Company and the Holders of Outstanding Series of such series of any such
record date so fixed and the proposed action. The Holders of Outstanding Securities of such series
on such record date (or their duly appointed agents), and only such Persons, shall be entitled to
join in such notice, declaration or direction, whether or not such Holders remain Holders after
such record date; provided that, unless such notice, declaration or direction shall have become
effective by virtue of Holders of the requisite principal amount of Outstanding Securities of such
series on such record date (or their duly appointed agents) having joined therein on or prior to
the 90th day after such record date, such notice, declaration or direction shall automatically and
without any action by any Person be cancelled and of no further effect. Nothing in this paragraph
shall be construed to prevent a Holder (or a duly appointed agent thereof) from giving, before or
after the expiration of such 90-day period, a notice, declaration or direction contrary to or
different from, or, after the expiration of such period, identical to, the notice, declaration or
direction to which such record date relates, in which event a new record date in respect thereof
shall be set pursuant to this paragraph. Nothing in this paragraph shall be construed to render
ineffective any notice, declaration or direction of the type referred to in this paragraph given at
any time to the Trustee and the Company by Holders (or their duly appointed agents) of the
requisite principal amount of Outstanding Securities of the relevant series on the date such
notice, declaration or direction is so given.

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

Section 1.05 Notices, Etc., to Trustee and Company

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other
document provided or permitted by this Indenture to be made upon, given or furnished to, or filed
with,

-8-

 

	(1)	 	the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder
if made, given, furnished or filed in writing (which may be via facsimile) to or with the
Trustee at its Corporate Trust Office, Attention: Global Corporate Trust, or

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

Section 1.06 Notice to Holders; Waiver

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

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

Section 1.07 Conflict with Trust Indenture Act

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

The following Trust Indenture Act terms used in this Indenture have the following meanings:

“commission” means the United States Securities and Exchange Commission;

“indenture securities” means the Securities;

“indenture security holder” means a Holder;

“indenture to be qualified” means this Indenture;

“indenture trustee” or “institutional trustee” means the Trustee; and

“obligor on the indenture securities” means the Company and any other obligor on the
Securities.

-9-

 

All other Trust Indenture Act terms used in this Indenture that are defined by the Trust Indenture
Act, defined by the Trust Indenture Act referenced to another statute or defined by any Commission
Rule and not otherwise defined herein have the meanings defined to them thereby.

Section 1.08 Effect of Headings and Table of Contents

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

Section 1.09 Successors and Assigns

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

Section 1.10 Separability Clause

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

Section 1.11 Benefits of Indenture

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

Section 1.12 Governing Law

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

Section 1.13 Legal Holidays

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security or
the last date on which a Holder has the right to convert his Securities shall not be a Business Day
at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the
Securities (other than a provision of the Securities of any series which specifically states that
such provision shall apply in lieu of this Section)) payment of interest or principal (and premium,
if any) or conversion of the Securities need not be made at such Place of Payment on such date, but
may be made on the next succeeding Business Day at such Place of Payment with the same force and
effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, or on
such last day for conversion, provided that no interest shall accrue for the intervening period.

Section 1.14 Waiver of Jury Trial

EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

Section 1.15 Force Majeure

In no event shall the Trustee be responsible or liable for any failure or delay in the performance
of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its
control, including, without limitation, strikes, work stoppages, accidents, acts of war or
terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and
interruptions, loss or malfunctions of

-10-

 

utilities, communications or computer (software and hardware) services; it being understood that
the Trustee shall use reasonable efforts which are consistent with accepted practices in the
banking industry to resume performance as soon as practicable under the circumstances.

ARTICLE II

SECURITY FORMS

Section 2.01 Forms Generally

The Securities of each series shall be in substantially the form set forth in this Article, or in
such other form as shall be established by or pursuant to an Establishment Action or in one or more
indentures supplemental hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture, and may have
such letters, numbers or other marks of identification and such legends or endorsements placed
thereon as may be required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the officers executing such Securities, as evidenced by
their execution of the Securities. If the form of Securities of any series is established by action
taken pursuant to an Establishment Action, a copy of an appropriate record of such action shall be
certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at
or prior to the delivery of the Company Order contemplated by Section 3.03 for the authentication
and delivery of such Securities.

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

Section 2.02 Form of Face of Security.

[Insert any legend required by the Internal Revenue Code and the regulations thereunder.]

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PPG INDUSTRIES, INC.

	 	 	 	 	 
	No. [•]
	 	$	[•]	 

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

[If the Security is not to bear interest prior to Maturity, insert — The principal of this
Security shall not bear interest except in the case of a default in payment of principal upon
acceleration, upon redemption or at Stated Maturity and in such case the overdue principal of this
Security shall bear interest at the rate of [•]% per annum, which shall accrue from the date of
such default in payment to the date payment of such principal has been made or duly provided for.
Interest on any overdue principal shall be payable on demand. Any such interest on any overdue
principal that is not so paid on demand shall bear interest at the rate of [•]% per annum, which
shall accrue from the date of such demand for payment to the date payment of such interest has been
made or duly provided for, and such interest shall also be payable on demand.]

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

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

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

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

Dated: [•]

	 	 	 	 	 
	PPG INDUSTRIES, INC.

 	 	 
	By:  	 	 	 
	 	Name:  	[•] 	 	 
	 	Title:  	[•] 	 	 
	 

Attest:

[•]

Section 2.03 Form of Reverse of Security

This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an Indenture, dated as of [•],
20[•] (herein called the “Indenture”), between the Company and The Bank of New York Trust Company,
N.A., as Trustee (herein called the “Trustee”, which term includes any successor trustee under the
Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for
a statement of the respective rights, limitations of rights, duties and immunities thereunder of
the Company, the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is one of the series
designated on the face hereof [if applicable, insert —, limited in aggregate principal
amount to $[•]].

[If applicable, insert — Subject to and upon compliance with the provisions of the
Indenture, the Holder of this Security is entitled, at his option, at any time on or before the
close of business on [•], or in case this Security or a portion hereof is called for redemption,
then in respect of this Security or such portion hereof until and including, but (unless the
Company defaults in making the payment due upon redemption) not after, the close of business on the
10th calendar day before the Redemption Date, to convert this Security (or any portion of the
principal amount hereof which is $1,000 or an integral multiple thereof), at the principal amount
hereof, or of such portion, into fully paid and non-assessable shares (calculated as to each
conversion to the nearest 1/100 of a share) of Common Stock of the Company at a conversion price
per share of Common Stock equal to $[•] per each share of Common Stock (or at the current adjusted
conversion price if an adjustment has been made as provided in the Indenture) by surrender of this
Security, duly endorsed or assigned to the Company or in blank, to the Company at its office or
agency in [•], accompanied by written notice to the Company that the Holder hereof elects to
convert this Security, or if less than the entire principal amount hereof is to be converted, the
portion hereof to be converted, and, in case such surrender shall be made during the period from
the close of business on any Regular Record Date next preceding any Interest Payment Date to the
opening of business on such Interest Payment Date (unless this Security or the portion thereof
being converted has been called for redemption on a Redemption Date within such period), also
accompanied by payment in funds acceptable to the Company of an amount equal to the interest
payable on such Interest Payment Date on the principal amount of this Security then being
converted. Subject to the aforesaid requirement for payment and, in the case of a conversion after
the Regular Record Date next preceding any Interest Payment Date and on or before such Interest
Payment Date, to the right of the Holder of this Security (or any Predecessor Security) of record
at such Regular Record Date to receive an installment of interest (with certain exceptions provided
in the

-13-

 

Indenture), no payment or adjustment is to be made on conversion for interest accrued hereon or for
dividends on the Common Stock issued on conversion. No fractions of shares or scrip representing
fractions of shares will be issued on conversion, but instead of any fractional interest the
Company shall pay a cash adjustment as provided in the Indenture. The conversion price is subject
to adjustment as provided in the Indenture. In addition, the Indenture provides that in case of
certain consolidations or mergers to which the Company is a party or the transfer of substantially
all of the assets of the Company, the Indenture shall be amended, without the consent of any
Holders of Securities, so that this Security, if then outstanding, will be convertible thereafter,
during the period this Security shall be convertible as specified above, only into the kind and
amount of securities, cash and other property receivable upon the consolidation, merger or transfer
by a holder of the number of shares of Common Stock into which this Security might have been
converted immediately prior to such consolidation, merger or transfer (assuming such holder of
Common Stock failed to exercise any rights of election and received per share the kind and amount
received per share by a plurality of non-electing shares).]

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

	 	 	 	 	 	 	 
	Year

	 	Redemption Price
	 	Year
	 	Redemption Price

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

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

-14-

 

	 	 	 	 	 
	Year

	 	Redemption Price
For Redemption
Through Operation
of the Sinking Fund
	 	Redemption Price For
Redemption Otherwise
Than Through Operation
of the Sinking Fund
	 

	 	 
	 	 

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

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

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

[If applicable, insert — The Indenture contains provisions for defeasance at any time of
[(1) the entire indebtedness of this Security or (2)] certain restrictive covenants and Events of
Default with respect to this Security, in each case upon compliance with certain conditions set
forth in the Indenture.]

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

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

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting
the

-15-

 

Holders of specified percentages in principal amount of the Securities of each series at the time
Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the
Company with certain provisions of the Indenture and certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive
and binding upon such Holder and upon all future Holders of this Security and of any Security
issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Security.

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall
not have the right to institute any proceeding with respect to the Indenture or for the appointment
of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have
previously given the Trustee written notice of a continuing Event of Default with respect to the
Securities of this series, the Holders of not less than 25% in principal amount of the Securities
of this series at the time Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable
indemnity and the Trustee shall not have received from the Holders of a majority in principal
amount of Securities of this series at the time Outstanding a direction inconsistent with such
request, and shall have failed to institute any such proceeding, for 60 days after receipt of such
notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the
Holder of this Security for the enforcement of any payment of principal hereof or any premium or
interest hereon on or after the respective due dates expressed herein.

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

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

The Securities of this series are issuable only in registered form without coupons in denominations
of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain
limitations therein set forth, Securities of this series are exchangeable for a like aggregate
principal amount of Securities of this series and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same.

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

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name this Security is
registered

-16-

 

as the owner hereof for all purposes, whether or not this Security be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary.

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

Section 2.04 Form of Legend for Global Securities

Unless otherwise specified as contemplated by Section 3.01 for the Securities evidenced thereby,
every Global Security authenticated and delivered hereunder shall bear a legend in substantially
the following form:

This Security is a Global Security within the meaning of the Indenture hereinafter referred to and
is registered in the name of a Depositary or a nominee thereof. This Security may not be
transferred to, or registered or exchanged for Securities registered in the name of, any Person
other than the Depositary or a nominee thereof and no such transfer may be registered, except in
the limited circumstances described in the Indenture. Every Security authenticated and delivered
upon registration of transfer of, or in exchange for or in lieu of, this Security shall be a Global
Security subject to the foregoing, except in such limited circumstances.

Section 2.05 Form of Trustee’s Certificate of Authentication.

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

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

	 	 	 	 	 
	THE BANK OF NEW YORK TRUST

COMPANY, N.A., as Trustee

 	 	 
	By:  	 	 	 
	 	Authorized Signatory 	 	 
	 	Dated: 	 	 
	 

ARTICLE III

THE SECURITIES

Section 3.01 Amount Unlimited; Issuable in Series.

The aggregate principal amount of Securities which may be authenticated and delivered under this
Indenture is unlimited.

The Securities may be issued in one or more series. There shall be established in or pursuant to an
Establishment Action and, subject to Section 3.03, set forth, or determined in the manner provided,
in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to
the issuance of Securities of any series,

	(1)	 	the title of the Securities of the series, including CUSIP Numbers (which shall distinguish
the Securities of the series from Securities of any other series);
	 
	(2)	 	any limit upon the aggregate principal amount of the Securities of the series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to Section 3.04, 3.05, 3.06, 9.06 or 11.07 and except for
any Securities which,

-17-

 

	 	 	pursuant to Section 3.03, are deemed never to have been authenticated and delivered
hereunder);
	 
	(3)	 	the Person to whom any interest on a Security of the series shall be payable, if other than
the Person in whose name that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such interest;
	 
	(4)	 	the date or dates on which the principal of the Securities of the series is payable;
	 
	(5)	 	the rate or rates at which the Securities of the series shall bear interest, if any, the date
or dates from which such interest shall accrue, the Interest Payment Dates on which any such
interest shall be payable and the Regular Record Date for any interest payable on any Interest
Payment Date;
	 
	(6)	 	the place or places where the principal of and any premium and interest on Securities of the
series shall be payable;
	 
	(7)	 	the period or periods within which, the price or prices at which and the terms and conditions
upon which Securities of the series may be redeemed, in whole or in part, at the option of the
Company;
	 
	(8)	 	the obligation, if any, of the Company to redeem or purchase Securities of the series
pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and
the period or periods within which, the price or prices at which and the terms and conditions
upon which Securities of the series shall be redeemed or purchased, in whole or in part,
pursuant to such obligation;
	 
	(9)	 	if other than denominations of $1,000 and any integral multiple thereof, the denominations in
which Securities of the series shall be issuable;
	 
	(10)	 	the currency, currencies or currency units in which payment of the principal of and any
premium and interest on any Securities of the series shall be payable if other than the
currency of the United States of America and the manner of determining the equivalent thereof
in the currency of the United States of America for purposes of the definition of
“Outstanding” in Section 1.01;
	 
	(11)	 	if the amount of payments of principal of or any premium or interest on any Securities of the
series may be determined with reference to an index, the manner in which such amounts shall be
determined;
	 
	(12)	 	if the principal of or any premium or interest on any Securities of the series is to be
payable, at the election of the Company or a Holder thereof, in one or more currencies or
currency units other than that or those in which the Securities are stated to be payable, the
currency, currencies or currency units in which payment of the principal of and any premium
and interest on Securities of such series as to which such election is made shall be payable,
and the periods within which and the terms and conditions upon which such election is to be
made;
	 
	(13)	 	if other than the principal amount thereof, the portion of the principal amount of Securities
of the series which shall be payable upon declaration of acceleration of the Maturity thereof
pursuant to Section 5.02;
	 
	(14)	 	if applicable, that the Securities of the series shall be subject to either or both of
Defeasance or Covenant Defeasance as provided in Article XIII; provided that no series of
Securities that is

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	 	 	convertible into or exchangeable for any other securities pursuant to Section 3.01(16) shall
be subject to Defeasance pursuant to Section 13.02;
	 
	(15)	 	if and as applicable, that the Securities of the series shall be issuable in whole or in part
in the form of one or more Global Securities and, in such case, the Depositary or Depositaries
for such Global Security or Global Securities and any circumstances other than those set forth
in Section 3.05 in which any such Global Security may be transferred to, and registered and
exchanged for Securities registered in the name of, a Person other than the Depositary for
such Global Security or a nominee thereof and in which any such transfer may be registered;
	 
	(16)	 	the terms and conditions, if any, pursuant to which the Securities are convertible into or
exchangeable for any other securities;
	 
	(17)	 	any addition to or change in the covenants set forth in Article X which applies to Securities
of the series; and
	 
	(18)	 	any other terms of the series (which terms shall not be inconsistent with the provisions of
this Indenture, except as permitted by Section 9.01(5)).

All Securities of any one series shall be substantially identical except as to denomination and
except as may otherwise be provided in or pursuant to an Establishment Action referred to above and
(subject to Section 3.03) set forth, or determined in the manner provided, in the Officers’
Certificate referred to above or in any such indenture supplemental hereto.

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

The Company may, from time to time, by an Establishment Action and subject to compliance with any
other applicable provisions of this Indenture, without the consent of the Holders, create and issue
pursuant to this Indenture additional securities of any series of Securities (“Add On Securities”)
having terms and conditions identical to those of such series of Outstanding Securities, except
that such Add On Securities:

	(i)	 	may have a different issue date from such series of Outstanding Securities;
	 
	(ii)	 	may have a different amount of interest payable on the first Interest Payment Date after
issuance than is payable on such series of Outstanding Securities; and
	 
	(iii)	 	may have terms specified in such Establishment Action for such Add On Securities making
appropriate adjustments to this Article III applicable to such Add On Securities in order to
conform to and ensure compliance with the Securities Act (or applicable securities laws) which
are not adverse in any material respect to the Holder of any Outstanding Securities (other
than such Add On Securities) and which shall not affect the rights or duties of the Trustee.

Section 3.02 Denominations

The Securities of each series shall be issuable only in registered form without coupons in such
denominations as shall be specified as contemplated by Section 3.01. In the absence of any such
specified denomination with respect to the Securities of any series, the Securities of such series
shall be issuable in denominations of $1,000 and any integral multiple thereof.

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Section 3.03 Execution, Authentication, Delivery and Dating

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

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

At any time and from time to time after the execution and delivery of this Indenture, the Company
may deliver Securities of any Series executed by the Company to the Trustee for authentication,
together with a Company Order for the authentication and delivery of such Securities, and the
Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If the
form or terms of the Securities of the series have been established in or pursuant to one or more
Establishment Actions as permitted by Sections 2.01 and 3.01, in authenticating such Securities,
and accepting the additional responsibilities under this Indenture in relation to such Securities,
the Trustee shall be provided with, and (subject to Section 6.01) shall be fully protected in
relying upon, an Opinion of Counsel stating,

	(1)	 	if the form of such Securities has been established by an Establishment Action as permitted
by Section 2.01, that such form has been established in conformity with the provisions of this
Indenture;
	 
	(2)	 	if the terms of such Securities have been established by an Establishment Action as permitted
by Section 3.01, that such terms have been established in conformity with the provisions of
this Indenture; and
	 
	(3)	 	that such Securities, when authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such Opinion of Counsel, will
constitute valid and legally binding obligations of the Company enforceable in accordance with
their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’
rights and to general equity principles.

If such form or terms have been so established, the Trustee shall not be required to authenticate
such Securities if the issue of such Securities pursuant to this Indenture will affect the
Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in
a manner which is not reasonably acceptable to the Trustee.

Notwithstanding the provisions of Section 3.01 and of the preceding paragraph, if all Securities of
a series are not to be originally issued at one time, it shall not be necessary to deliver the
Officers’ Certificate otherwise required pursuant to Section 3.01 or the Company Order and Opinion
of Counsel otherwise required pursuant to such preceding paragraph at or prior to the time of
authentication of each Security of such series if such documents are delivered at or prior to the
authentication upon original issuance of the first Security of such series to be issued.

Each Security shall be dated the date of its authentication.

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No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any
purpose unless there appears on such Security a certificate of authentication substantially in the
form provided for herein executed by the Trustee by manual signature, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such Security has been duly
authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have
been authenticated and delivered hereunder but never issued and sold by the Company, and the
Company shall deliver such Security to the Trustee for cancellation as provided in Section 3.09,
for all purposes of this Indenture such Security shall be deemed never to have been authenticated
and delivered hereunder and shall never be entitled to the benefits of this Indenture.

Section 3.04 Temporary Securities

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

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

Section 3.05 Registration, Registration of Transfer and Exchange

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

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

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

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

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

No service charge shall be made for any registration of transfer or exchange of Securities, but the
Company or Security Registrar may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer or exchange
of Securities, other than exchanges pursuant to Section 3.04, 9.06 or 11.07 not involving any
transfer.

The Company shall not be required (1) to issue, register the transfer of or exchange Securities of
any series during a period beginning at the opening of business 15 days before the day of the
mailing of a notice of redemption of Securities of that series selected for redemption under
Section 11.03 and ending at the close of business on the day of such mailing, or (2) to register
the transfer of or exchange any Security so selected for redemption in whole or in part, except the
unredeemed portion of any Security being redeemed in part.

Notwithstanding any other provision in this Indenture, no Global Security may be transferred to, or
registered or exchanged for Securities registered in the name of, any Person other than the
Depositary for such Global Security or any nominee thereof, and no such transfer may be registered,
unless (1) such Depositary (A) notifies the Company that it is unwilling or unable to continue as
Depositary for such Global Security or (B) has ceased to be a clearing agency registered under the
Exchange Act, (2) the Company executes and delivers to the Trustee a Company Order that such Global
Security shall be so transferable, registrable and exchangeable, and such transfers shall be
registrable, (3) there shall have occurred and be continuing an Event of Default with respect to
the Securities evidenced by such Global Security or (4) there shall exist such other circumstances,
if any, as have been specified for this purpose as contemplated by Section 3.01. Notwithstanding
any other provision in this Indenture, a Global Security to which the restriction set forth in the
preceding sentence shall have ceased to apply may be transferred only to, and may be registered and
exchanged for Securities registered only in the name or names of, such Person or Persons as the
Depositary for such Global Security shall have directed and no transfer thereof other than such a
transfer may be registered.

Every Security authenticated and delivered upon registration of transfer of, or in exchange for or
in lieu of, a Global Security to which the restriction set forth in the first sentence of the
preceding paragraph shall apply, whether pursuant to this Section, Section 3.04, 3.06, 9.06 or
11.07 or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global
Security.

Section 3.06 Mutilated, Destroyed, Lost and Stolen Securities

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

If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of
the destruction, loss or theft of any Security and (ii) such security or indemnity as may be
required by

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them to save each of them and any agent of either of them harmless, then, in the absence of notice
to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the
Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such
destroyed, lost or stolen Security, a new Security of the same series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding.

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

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

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

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

Section 3.07 Payment of Interest; Interest Rights Preserved

Except as otherwise provided as contemplated by Section 3.01 with respect to any series of
Securities, interest on any Security which is payable, and is punctually paid or duly provided for,
on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for
such interest.

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

	(1)	 	The Company may elect to make payment of any Defaulted Interest to the Persons in whose names
the Securities of such series (or their respective Predecessor Securities) are registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest,
which shall be fixed in the following manner. The Company shall notify the Trustee in writing
of the amount of Defaulted Interest proposed to be paid on each Security of such series and
the date of the proposed payment, and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of
such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such
deposit prior to the date of the proposed payment, such money when deposited to be held in
trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause
provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the
date of the proposed payment and not less than 10 days after the receipt by the Trustee of the
notice of the

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	 	 	proposed payment. The Trustee shall promptly notify the Company of such Special Record Date
and, in the name and at the expense of the Company, shall cause notice of the proposed
payment of such Defaulted Interest and the Special Record Date therefor to be mailed,
first-class postage prepaid, to each Holder of Securities of such series at his address as it
appears in the Security Register, not less than 10 days prior to such Special Record Date.
Notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose
names the Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on such Special Record Date and shall no longer be
payable pursuant to the following Clause (2).
	 
	(2)	 	The Company may make payment of any Defaulted Interest on the Securities of any series in any
other lawful manner not inconsistent with the requirements of any securities exchange on which
such Securities may be listed, and upon such notice as may be required by such exchange, if,
after notice given by the Company to the Trustee of the proposed payment pursuant to this
Clause, such manner of payment shall be deemed practicable by the Trustee.

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

In the case of any Security which is converted after any Regular Record Date and on or prior to the
next succeeding Interest Payment Date, interest whose Stated Maturity is on such Interest Payment
Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such
interest (whether or not punctually paid or duly provided for) shall be paid to the Person in whose
name that Security (or one or more Predecessor Securities) is registered at the close of business
on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding
sentence in the case of any Security which is converted, interest whose Stated Maturity is after
the date of conversion of such Security, shall not be payable.

Section 3.08 Persons Deemed Owners

Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and
any agent of the Company or the Trustee may treat the Person in whose name such Security is
registered as the owner of such Security for the purpose of receiving payment of principal of and
any premium and (subject to Section 3.07) any interest on such Security and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any
agent of the Company or the Trustee shall be affected by notice to the contrary.

Section 3.09 Cancellation

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

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this Indenture. All cancelled Securities held by the Trustee shall be disposed of by the Trustee in
its customary manner.

Section 3.10 Computation of Interest

Except as otherwise specified as contemplated by Section 3.01 for Securities of any series,
interest on the Securities of each series shall be computed on the basis of a 360-day year of
twelve 30-day months.

Section 3.11 CUSIP Numbers

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

ARTICLE IV

SATISFACTION AND DISCHARGE

Section 4.01 Satisfaction and Discharge of Indenture

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

	(1)	 	either

	 	(A)	 	all Securities theretofore authenticated and delivered (other than (i) Securities
which have been destroyed, lost or stolen and which have been replaced or paid as
provided in Section 3.06 and (ii) Securities for whose payment money has theretofore
been deposited in trust or segregated and held in trust by the Company and thereafter
repaid to the Company or discharged from such trust) have been delivered to the Trustee
for cancellation; or

	 	(B)	 	all such Securities not theretofore delivered to the Trustee for cancellation

	 	(i)	 	have become due and payable, or
	 
	 	(ii)	 	will become due and payable at their Stated Maturity within one
year, or
	 
	 	(iii)	 	are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the Trustee
in the name, and at the expense, of the Company,

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

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

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

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to
the Trustee under Section 6.07, and, if money shall have been deposited with the Trustee pursuant
to subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 4.02
shall survive such satisfaction and discharge.

Section 4.02 Application of Trust Money

All money deposited with the Trustee pursuant to Section 4.01 shall be held in trust and applied by
it, in accordance with the provisions of the Securities and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the
Trustee may determine, to the Persons entitled thereto, of the principal and any premium and
interest for whose payment such money has been deposited with the Trustee.

ARTICLE V

REMEDIES

Section 5.01 Events of Default

“Event of Default”, wherever used herein with respect to Securities of any series, means any one of
the following events (whatever the reason for such Event of Default and whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or
order of any court or any order, rule or regulation of any administrative or governmental body):

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

	(2)	 	default in the payment of the principal of (or premium, if any, on) any Security of that
series at its Maturity; or

	(3)	 	default in the deposit of any sinking fund payment, when and as due by the terms of a
Security of that series, and continuance of such default for a period of 30 days; or

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

	(5)	 	the entry by a court having jurisdiction in the premises of (A) a decree or order for relief
in respect of the Company in an involuntary case or proceeding under any applicable Federal or
State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order

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	 	 	adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect of the
Company under any applicable Federal or State law, or appointing a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or of
any substantial part of its property, or ordering the winding up or liquidation of its
affairs, and the continuance of any such decree or order for relief or any such other decree
or order unstayed and in effect for a period of 60 consecutive days; or
	 
	(6)	 	the commencement by the Company of a voluntary case or proceeding under any applicable
Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other
case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the
entry of a decree or order for relief in respect of the Company in an involuntary case or
proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or
other similar law or to the commencement of any bankruptcy or insolvency case or proceeding
against it, or the filing by it of a petition or answer or consent seeking reorganization or
relief under any applicable Federal or State law, or the consent by it to the filing of such
petition or to the appointment of or taking possession by a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official of the Company or of any substantial
part of its property, or the making by it of an assignment for the benefit of creditors, or
the admission by it in writing of its inability to pay its debts generally as they become due,
or the taking of corporate action by the Company in furtherance of any such action; or
	 
	(7)	 	any other Event of Default provided with respect to Securities of that series.

Section 5.02 Acceleration of Maturity; Rescission and Annulment

If an Event of Default with respect to Securities of any series at the time Outstanding occurs and
is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal
amount of the Outstanding Securities of that series may declare the principal amount (or, if any of
the Securities of that series are Original Issue Discount Securities, such portion of the principal
amount of such Securities as may be specified in the terms thereof) of all of the Securities of
that series to be due and payable immediately, by a notice in writing to the Company (and to the
Trustee if given by Holders), and upon any such declaration such principal amount (or specified
amount) shall become immediately due and payable.

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

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

	 	(A)	 	all overdue interest on all Securities of that series,
	 
	 	(B)	 	the principal of (and premium, if any, on) any Securities of that series which
have become due otherwise than by such declaration of acceleration and any interest
thereon at the rate or rates prescribed therefor in such Securities,
	 
	 	(C)	 	to the extent that payment of such interest is lawful, interest upon overdue
interest at the rate or rates prescribed therefor in such Securities, and

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

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

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

Section 5.03 Collection and Suits for Enforcement by Trustee

The Company covenants that if:

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

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

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

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

Section 5.04 Trustee May File Proofs of Claim

In case of any judicial proceeding relative to the Company (or any other obligor upon the
Securities), its property or its creditors, the Trustee shall be entitled and empowered, by
intervention in such proceeding or otherwise, to take any and all actions authorized under the
Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such
proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or
other property payable or deliverable on any such claims and to distribute the same; and any
custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any
such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee
and, in the event that the Trustee shall consent to the making of such payments directly to the
Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 6.07.

No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or the rights of any Holder thereof or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding; provided,
however, that the Trustee

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may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official
and be a member of a creditors’ or other similar committee.

Section 5.05 Trustee May Enforce Claims Without Possession of Securities

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

Section 5.06 Application of Money Collected

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

FIRST: To the payment of all amounts due the Trustee under Section 6.07;

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

THIRD: To the Company.

Section 5.07 Limitation on Suits

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

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

	(2)	 	the Holders of not less than 25% in principal amount of the Outstanding Securities of that
series shall have made written request to the Trustee to institute proceedings in respect of
such Event of Default in its own name as Trustee hereunder;

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

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

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

it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb
or

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prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all of such Holders.

Section 5.08 Unconditional Right of Holders to Receive Principal, Premium and Interest

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the
right, which is absolute and unconditional, to receive payment of the principal of and any premium
and (subject to Section 3.07) interest on such Security on the respective Stated Maturities
expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute
suit for the enforcement of any such payment, and such rights shall not be impaired without the
consent of such Holder.

Section 5.09 Restoration of Rights and Remedies

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

Section 5.10 Rights and Remedies Cumulative

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities in the last paragraph of Section 3.06, no right or remedy herein
conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any
other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

Section 5.11 Delay or Omission Not Waiver

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

Section 5.12 Control by Holders

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

	(1)	 	such direction shall not be in conflict with any rule of law or with this Indenture,
	 
	(2)	 	the Trustee may take any other action deemed proper by the Trustee which is not inconsistent
with such direction, and
	 
	(3)	 	subject to the provisions of Section 6.01, the Trustee shall have the right to decline to
follow any such direction if the Trustee in good faith shall, by a Responsible Officer or
Officers of the

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	 	 	Trustee, determine that the proceedings so directed would involve the Trustee in personal liability.

Section 5.13 Waiver of Past Defaults.

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

	(1)	 	in the payment of the principal of or any premium or interest on any Security of such series,
or
	 
	(2)	 	in respect of a covenant or provision hereof which under Article IX cannot be modified or
amended without the consent of the Holder of each Outstanding Security of such series
affected.

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

Section 5.14 Undertaking for Costs

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against
the Trustee for any action taken, suffered or omitted by it as Trustee, a court may require any
party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess
costs against any such party litigant, including reasonable attorney’s fees and expenses, in the
manner and to the extent provided in the Trust Indenture Act; provided that neither this
Section nor the Trust Indenture Act shall apply to any suit instituted by the Trustee, to any suit
instituted by any Holders of the Securities, or group of Holders of the Securities, holding in the
aggregate more than 10% of principal amount of the Outstanding Securities of any series, or to any
suit instituted by any Holder of the Outstanding Securities for the enforcement of the payment of
principal of or interest on any Outstanding Securities held by such Holder, on or after the
respective due dates expressed in such Outstanding Securities; and provided,
further, that neither this Section nor the Trust Indenture Act shall be deemed to authorize
any court to require such an undertaking or to make such an assessment in any suit instituted by
the Company.

Section 5.15 Waiver of Usury, Stay or Extension Laws

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

ARTICLE VI

THE TRUSTEE

The Trustee hereby accepts the trust imposed upon it by this Indenture and covenants and agrees to
perform the same, as herein expressed.

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Section 6.01 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 their exercise as a prudent person would exercise or use
under the circumstances in the conduct of his own affairs.
	 
	 	(b)	 	Except during the continuance of an Event of Default:
	 
	 	 	 	(1) The Trustee need perform only those duties as are specifically set forth in this
Indenture and no others, and no covenants or obligations shall be implied in or read
into this Indenture.
	 
	 	 	 	(2) In the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein,
upon certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture. However, in the case of any such certificates or
opinions which by any provision hereof are specifically required to be furnished to
the Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they substantially conform to the requirements of this Indenture (but
need not confirm or investigate the accuracy of mathematical calculations or other
facts stated therein).
	 
	 	(c)	 	The Trustee may not be relieved from liability for its own negligent action,
its own negligent failure to act, or its own willful misconduct, except that:
	 
	 	 	 	(1) This paragraph does not limit the effect of paragraph (b) of this Section 6.01.
	 
	 	 	 	(2) The Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved that the Trustee was negligent in
ascertaining the pertinent facts.
	 
	 	 	 	(3) 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
5.12.
	 
	 	(d)	 	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 to take or omit to take any action under this Indenture.
	 
	 	(e)	 	Every provision of this Indenture that in any way relates to the Trustee is
subject to paragraphs (a), (b), (c), (d) and (f) of this Section 6.01.
	 
	 	(f)	 	The Trustee shall not be liable for interest on any assets received by it
except as the Trustee may agree in writing with the Company. Assets held in trust by
the Trustee need not be segregated from other assets except to the extent required by
law.

Section 6.02 Rights of Trustee

Subject to Section 6.01:

	 	(a)	 	The Trustee may conclusively rely on any document (whether in its original or
facsimile form) believed by it to be genuine and to have been signed or presented by
the proper person. The Trustee need not investigate any fact or matter stated in any
document.

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	 	(b)	 	Before the Trustee acts or refrains from acting, it may require an Officers’
Certificate or an Opinion of Counsel. The Trustee shall not be liable for any action it
takes or omits to take in good faith in reliance on such certificate or opinion.
	 
	 	(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 which it believes to be authorized or within its rights or powers.
	 
	 	(e)	 	The Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, notice,
request, direction, consent, order, bond, debenture, or other paper or document, but
the Trustee, in its discretion, may make such further inquiry or investigation into
such facts or matters as it may see fit and, if the Trustee shall determine to make
such further inquiry or investigation, it shall be entitled to examine the books,
records and premises of the Company, personally or by agent or attorney at the sole
cost of the Company and shall incur no liability or additional liability of any kind by
reason of such investigation.
	 
	 	(f)	 	The Trustee may consult with counsel of its selection and the advice of such
counsel or any Opinion of Counsel shall be full and complete authorization and
protection of any action taken, suffered or omitted by in hereunder in good faith and
in reliance thereon.
	 
	 	(g)	 	The rights, privileges, protections, immunities and benefits given to the
Trustee, including, without limitation, its right to be indemnified, are extended to,
and shall be enforceable by, the Trustee in each of its capacities hereunder, and each
agent, custodian and other Person employed to act hereunder.
	 
	 	(h)	 	The Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Indenture at the request or direction of any of the Holders
pursuant to this Indenture, unless such Holders shall have offered to the Trustee
security or indemnity satisfactory to the Trustee against the costs, expenses and
liabilities which might be incurred by it in compliance with such request or direction.
	 
	 	(i)	 	The Trustee shall not be deemed to have notice of any default or Event of
Default unless a Responsible Officer of the Trustee has actual knowledge thereof or
unless written notice of any event which is in fact such a default is received by the
Trustee at the Corporate Trust Office of the Trustee, and such notice references the
particular Securities and this Indenture.
	 
	 	(j)	 	In no event shall the Trustee be responsible or liable for special, indirect,
or consequential loss or damage of any kind whatsoever (including, but not limited to,
loss of profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action.

Section 6.03 Individual Rights of Trustee

The Trustee in its individual or any other capacity may become the owner or pledgee of Securities
and may otherwise deal with the Company or its Affiliates with the same rights it would have if it
were not Trustee. Any Paying Agent or Security Registrar may do the same with like rights. However,
the Trustee must comply with Sections 6.08, 6.09 and 6.10.

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Section 6.04 Trustee’s Disclaimer

The Trustee makes no representation as to the validity or adequacy of this Indenture or the
Securities and it shall not be accountable for the Company’s use of the proceeds from the
Securities, and it shall not be responsible for any statement in the Securities, other than the
Trustee’s certificate of authentication, or the use or application of any funds received by a
Paying Agent other than the Trustee.

Section 6.05 Notice of Default

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

Section 6.06 Reports by Trustee to Holders

Within 60 days after each February 15 beginning with the February 15 following the date of this
Indenture, the Trustee shall mail to each Holder a brief report dated as of such February 15 that
complies with Trust Indenture Act Section 313(a) if such report is required by such Trust Indenture
Act Section 313(a). The Trustee also shall comply with Trust Indenture Act Sections 313(b) and
313(c).

The Company shall promptly notify the Trustee in writing if the Securities of any series become
listed on any stock exchange or automatic quotation system.

A copy of each report at the time of its mailing to Holders shall be mailed to the Company and
filed with the Commission and each stock exchange, if any, on which the Securities are listed.

Section 6.07 Compensation and Indemnity

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

The Company shall indemnify each of the Trustee (in its capacity as Trustee) and any predecessor
Trustee and each of their respective officers, directors, attorneys-in-fact and agents for, and
hold it harmless against, any claim, damage, demand, expense (including but not limited to
reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel), loss,
charges (including taxes (other than taxes based upon the income of the Trustee)) or liability
incurred by them without negligence or bad faith on its part, arising out of or in connection with
the acceptance or administration of this trust and their rights or duties hereunder including the
reasonable costs and expenses of defending themselves against any claim or liability in connection
with the exercise or performance of any of its powers or duties hereunder. The Trustee shall notify
the Company promptly of any claim asserted against the Trustee for which it may seek indemnity. The
Company shall defend the claim and the Trustee shall provide reasonable cooperation at the
Company’s expense in the defense. The Trustee may have separate counsel and the Company shall pay
the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made
without its written

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consent which consent shall not be unreasonably withheld. The Company need not reimburse any
expense or indemnify against any loss or liability to the extent incurred by the Trustee as
determined by a court of competent jurisdiction to have been caused by its own negligence, bad
faith or willful misconduct.

To secure the Company’s payment obligations in this Section 6.07, the Trustee shall have a lien
prior to the Securities on all assets held or collected by the Trustee, in its capacity as Trustee,
except assets held in trust to pay principal and premium, if any, of or interest on particular
Securities.

When the Trustee incurs expenses or renders services after an Event of Default specified in Section
5.01(5) or (6) occurs, the expenses and the compensation for the services are intended to
constitute expenses of administration under any Bankruptcy Law.

The Company’s obligations under this Section 6.07 and any lien arising hereunder shall survive the
resignation or removal of the Trustee, the discharge of the Company’s obligations pursuant to
Article IV of this Indenture and any rejection or termination of this Indenture under any
Bankruptcy Law.

Section 6.08 Replacement of Trustee

The Trustee may resign at any time with respect to the Securities of one or more series by so
notifying the Company in writing. The Holder or Holders of a majority in principal amount of the
outstanding Securities of a series may remove the Trustee with respect to Securities of such series
by so notifying the Company and the Trustee in writing and may appoint a successor trustee with
respect to Securities of such series with the Company’s consent. The Company may remove the Trustee
if:

	(1)	 	the Trustee fails to comply with Section 6.10;
	 
	(2)	 	the Trustee is adjudged bankrupt or insolvent;
	 
	(3)	 	a receiver, custodian, or other public officer takes charge of the Trustee or its property;
or
	 
	(4)	 	the Trustee becomes incapable of acting.

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee, with respect
to the Securities of one or more series, for any reason, the Company shall promptly appoint a
successor Trustee, with respect to Securities of that or those series. Within one year after the
successor Trustee with respect to a series of Securities takes office, the Holder or Holders of a
majority in principal amount of the Securities of such series may appoint a successor Trustee with
respect to such series to replace the successor Trustee appointed by the Company.

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee
and to the Company. Immediately after that and provided that all sums owing to the Trustee provided
for in Section 6.07 have been paid, the retiring Trustee shall transfer all property held by it as
Trustee with respect to such series of Securities to the successor Trustee, subject to the lien
provided in Section 6.07, 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. A successor Trustee with respect to one or more series of Securities shall
mail notice of its succession to each Holder of Securities of that or those series.

If a successor Trustee with respect to a series of Securities does not take office within 60 days
after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holder
or Holders of at least 10% in principal amount of the outstanding Securities of that series may
petition at the

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expense of the Company any court of competent jurisdiction for the appointment of a successor
Trustee with respect to such series.

If the Trustee fails to comply with Section 6.10, any Holder of Securities of a series may petition
any court of competent jurisdiction for the removal of the Trustee with respect to such series and
the appointment of a successor Trustee with respect to such series.

Notwithstanding replacement of the Trustee pursuant to this Section 6.08, the Company’s obligations
under Section 6.07 shall continue for the benefit of the retiring Trustee.

Section 6.09 Successor Trustee by Merger, Etc.

If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of
its corporate trust business to, another corporation, the resulting, surviving or transferee
corporation without any further act shall, if such resulting, surviving or transferee corporation
is otherwise eligible hereunder, be the successor Trustee.

Section 6.10 Eligibility; Disqualification

The Trustee shall at all times satisfy the requirements of Trust Indenture Act Section 310(a)(1)
and Trust Indenture Act Section 310(a)(5). The Trustee shall have a combined capital and surplus of
at least $50,000,000 as set forth in its most recent published annual report of condition. The
Trustee shall comply with Trust Indenture Act Section 310(b).

Section 6.11 Preferential Collection of Claims against Company

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

ARTICLE VII

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

Section 7.01 Company to Furnish Trustee Names and Addresses of Holders

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

	(1)	 	semi-annually, not more than 15 days after each Regular Record Date, a list for each series
of Securities, in such form as the Trustee may reasonably require, of the names and addresses
of the Holders of Securities of such series as of the Regular Record Date, as the case may be,
and
	 
	(2)	 	at such other times as the Trustee may request in writing, within 30 days after the receipt
by the Company of any such request, a list of similar form and content as of a date not more
than 15 days prior to the time such list is furnished;

excluding from any such list names and addresses received by the Trustee in its capacity as
Security Registrar.

Section 7.02 Preservation of Information; Communications to Holders

The Trustee shall preserve, in as current a form as is reasonably practicable, the names and
addresses of Holders contained in the most recent list furnished to the Trustee as provided in
Section 7.01 and the names and addresses of Holders received by the Trustee in its capacity as
Security

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Registrar. The Trustee may destroy any list furnished to it as provided in Section 7.01 upon
receipt of a new list so furnished.

The rights of the Holders to communicate with other Holders with respect to their rights under this
Indenture or under the Securities, and the corresponding rights and privileges of the Trustee,
shall be as provided by the Trust Indenture Act.

Every Holder of Securities, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held
accountable by reason of any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act.

Section 7.03 Reports by Trustee

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

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

Section 7.04 Reports by Company

The Company shall file with the Trustee and the Commission, and transmit to Holders, such
information, documents and other reports, and such summaries thereof, as may be required pursuant
to the Trust Indenture Act at the times and in the manner provided pursuant to such Act; provided
that any such information, documents or reports required to be filed with the Commission pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934 shall be filed with the Trustee
within 15 days after the same is so required to be filed with the Commission. Delivery of such
reports, information and documents to the Trustee is for informational purposes only and the
Trustee’s receipt of such shall not constitute constructive notice of any information contained
therein or determinable from information contained therein, including the Company’s compliance with
any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on
Officer’s Certificates).

ARTICLE VIII

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

Section 8.01 When Company May Merge, Etc.

The Company may not, in a single transaction or through a series of related transactions,
consolidate with or merge with or into any other person, or, directly or indirectly, sell or convey
substantially all of its assets to another person or group of affiliated persons, unless:

	(1)	 	the Company shall be the continuing person, or the person (if other than the Company) formed
by such consolidation or into which the Company is merged or to which all or substantially all
of the properties and assets of the Company are transferred as an entirety or substantially as
an entirety (the Company or such other person being hereinafter referred to as the “Surviving
Person”), shall be organized and validly existing under the laws of the United States, any
State thereof or the District of Columbia, and shall expressly assume, by an indenture
supplemental hereto, executed and delivered to the Trustee, in form and substance satisfactory
to the

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	 	 	Trustee, all the obligations of the Company under the Securities and this Indenture and the
Indenture, so supplemented, shall remain in full force and effect;

	(2)	 	immediately after giving effect to such transaction and the assumption of the obligations as
set forth in clause (1), above, no Event of Default shall have occurred and be continuing; and

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

For purposes of this Section 8.01, “substantially all of its assets” shall mean, at any date, a
portion of the non-current assets reflected in the Company’s consolidated balance sheet as of the
end of the most recent quarterly period that represents at least sixty-six and two-thirds percent
(66-2/3%) of the total reported value of such assets.

Section 8.02 Successor Substituted

Upon any consolidation or merger, or any transfer of assets in accordance with Section 8.01, the
Surviving Person formed by such consolidation or into which the Company is merged or to which such
transfer is made shall succeed to, and be substituted for, and may exercise every right and power
of, the Company under this Indenture with the same effect as if such Surviving Person had been
named as the Company herein. When a Surviving Person duly assumes all of the obligations of the
Company pursuant hereto and pursuant to the Securities, the predecessor shall be relieved of the
performance and observance of all obligations and covenants of this Indenture and the Securities,
including but not limited to the obligation to make payment of the principal of and interest, if
any, on all the Securities then outstanding, and the Company may thereupon or any time thereafter
be liquidated and dissolved.

ARTICLE IX

SUPPLEMENTAL INDENTURES

Section 9.01 Supplemental Indentures Without Consent of Holders

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

	(1)	 	to evidence the succession of another Person to the Company and the assumption by any such
successor of the covenants of the Company herein and in the Securities; or

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

(3) to add any additional Events of Default; or

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

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	(5)	 	to add to, change or eliminate any of the provisions of this Indenture in respect of one or
more series of Securities, provided that any such addition, change or elimination (A) shall
neither (i) apply to any Security of any series created prior to the execution of such
supplemental indenture and entitled to the benefit of such provision nor (ii) modify the
rights of the Holder of any such Security with respect to such provision or (B) shall become
effective only when there is no such Security Outstanding; or
	 
	(6)	 	to secure the Securities pursuant to the requirements of Article X or otherwise; or
	 
	(7)	 	to establish the form or terms of Securities of any series as permitted by Sections 2.01 and
3.01; or
	 
	(8)	 	to evidence and provide for the acceptance of appointment hereunder by a successor Trustee
with respect to the Securities of one or more series and to add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, pursuant to the requirements
of Section 6.11; or
	 
	(9)	 	to cure any ambiguity, to correct or supplement any provision herein which may be defective
or inconsistent with any other provision herein, or to make any other provisions with respect
to matters or questions arising under this Indenture, provided that such action pursuant to
this clause (9) shall not adversely affect the interests of the Holders of Securities of any
series in any material respect.

Section 9.02 Supplemental Indentures with Consent of Holders

With the consent of the Holders of not less than a majority in principal amount of the Outstanding
Securities of each series affected by such supplemental indenture, by Act of said Holders delivered
to the Company and the Trustee, the Company, when authorized by an Establishment Action, and the
Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or
of modifying in any manner the rights of the Holders of Securities of such series under this
Indenture; provided, however, that no such supplemental indenture shall, without the consent of the
Holder of each Outstanding Security affected thereby,

	(1)	 	change the Stated Maturity of the principal of, or any installment of principal of or
interest on, any Security, or reduce the principal amount thereof or the rate of interest or
the time of payment of interest thereon or any premium payable upon the redemption thereof, or
reduce the amount of the principal of an Original Issue Discount Security that would be due
and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section
5.02, or change the coin or currency in which, any Security or any premium or interest thereon
is payable, or impair the right to institute suit for the enforcement of any such payment on
or after the Stated Maturity thereof (or, in the case of redemption, on or after the
Redemption Date), or

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

	(3)	 	modify any of the provisions of this Section or Section 5.13, except to increase any such
percentage or to provide that certain other provisions of this Indenture cannot be modified or
waived without the consent of the Holder of each Outstanding Security affected thereby,

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	 	 	provided, however, that this clause shall not be deemed to require the consent of any Holder
with respect to changes in the references to “the Trustee” and concomitant changes in this
Section, or the deletion of this proviso, in accordance with the requirements of Sections
6.11 and 9.01(8), or

	(4)	 	change any obligation of the Company to maintain an office or agency, or
	 
	(5)	 	change any obligation of the Company to pay additional amounts, or
	 
	(6)	 	adversely affect any right of repayment or repurchase at the option of the Holder, or
	 
	(7)	 	reduce or postpone any sinking fund or similar provision.

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

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

Section 9.03 Execution of Supplemental Indentures

In executing, or accepting the additional trusts created by, any supplemental indenture permitted
by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee
shall be provided with, and (subject to Section 6.01) shall be fully protected in relying upon, an
Opinion of Counsel stating that the execution of such supplemental indenture is authorized or
permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such
supplemental indenture which affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise.

Section 9.04 Effect of Supplemental Indentures

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

Section 9.05 Conformity with Trust Indenture Act

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

Section 9.06 Reference in Securities to Supplemental Indentures

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

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ARTICLE X

COVENANTS

Section 10.01 Payment of Securities

The Company covenants and agrees for the benefit of each series of Securities that it will pay the
principal of and interest on the Securities of that series on the dates and in the manner provided
in the Securities of that series and this Indenture. An installment of principal, premium, if any,
or interest on the Securities shall be considered paid on the date it is due if the Trustee or
Paying Agent (other than the Company or an Affiliate of the Company) holds for the benefit of the
Holders, on that date, immediately available funds deposited and designated for and sufficient to
pay the installment. The Company shall pay interest on overdue principal and on overdue
installments of interest at the rate specified in the Securities compounded semi-annually, to the
extent lawful.

Section 10.02 Maintenance of Office or Agency

The Company shall maintain in the Place of Payment for any series of Securities, an office or
agency where Securities of that series may be presented or surrendered for payment, where
Securities of that series may be surrendered for registration of transfer or exchange and where
notices and demands to or upon the Company in respect of the Securities of that series and this
Indenture may be served. The Company 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 Company
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with
the address thereof, such presentations, surrenders, notices and demands may be made or served at
the Corporate Trust Office.

The Company may also from time to time designate one or more other offices or agencies where the
Securities of one or more series may be presented or surrendered for any or all such purposes and
may from time to time rescind such designations; provided, however, that no such designation or
rescission shall in any manner relieve the Company of its obligation to maintain an office or
agency in each Place of Payment for Securities of any series for such purposes. The Company 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 Company hereby initially designates the
principal corporate trust office of the Trustee as such office of the Company.

Section 10.03 Money for Securities Payments to Be Held in Trust

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

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

The Company will cause each Paying Agent for any series of Securities other than the Trustee to
execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the

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

The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this
Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the
Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the
Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying
Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be
released from all further liability with respect to such money.

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

Section 10.04 Compliance Certificate; Notice of Default

The Company shall deliver to the Trustee within 120 days after the end of its fiscal year an
Officers’ Certificate (one of the signatories of which shall be the Company’s principal executive
officer, principal financial officer or principal accounting officer) complying with Section
314(a)(4) of the Trust Indenture Act and stating that a review of its activities during the
preceding fiscal year has been made under the supervision of the signing officers with a view to
determining whether the Company has kept, observed, performed and fulfilled its obligations under
this Indenture (all without regard to periods of grace, which shall be deemed fulfilled unless and
until the expiration of such periods or notice requirements) and further stating, as to each such
officer signing such certificate, whether or not the signer knows of any failure by the Company to
comply with any conditions or covenants in this Indenture and, if such signer does know of such a
failure to comply, the certificate shall describe such failure with particularity. The Officers’
Certificate shall also notify the Trustee should the relevant fiscal year end on any date other
than the current fiscal year end date.

Section 10.05 Corporate Existence

Subject to Article VIII, the Company shall do or cause to be done all things necessary to preserve
and keep in full force and effect its corporate existence in accordance with its organizational
documents and the rights (charter and statutory) and corporate franchises of the Company; provided,
however, that the Company shall not be required to preserve, with respect to itself, any right or
franchise, if (a)

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the Board of Directors of the Company shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Company and (b) the loss thereof is not
disadvantageous in any material respect to the Holders.

Section 10.06 Waiver of Certain Covenants

Except as otherwise specified as contemplated by Section 3.01 for Securities of such series, the
Company may, with respect to the Securities of any series, omit in any particular instance to
comply with any term, provision or condition set forth in any covenant pursuant to Section
3.01(18), 9.01(2) or 9.01(7) for the benefit of the Holders of such series, if the Holders of at
least a majority in principal amount of the Outstanding Securities of such series shall, by Act of
such Holders, either waive such compliance in such instance or generally waive compliance with such
term, provision or condition, but no such waiver shall extend to or affect such term, provision or
condition except to the extent expressly waived and, until such waiver shall become effective, the
obligations of the Company and the duties of the trustee in respect of any such term, provision or
condition shall remain in full force and effect.

ARTICLE XI

REDEMPTION OF SECURITIES

Section 11.01 Applicability of Article

Securities of any series which are redeemable before their Stated Maturity shall be redeemable in
accordance with their terms and (except as otherwise specified as contemplated by Section 3.01 for
Securities of any series) in accordance with this Article.

Section 11.02 Election to Redeem; Notice to Trustee

The election of the Company to redeem any Securities shall be evidenced by an Establishment Action.
In case of any redemption at the election of the Company of less than all the Securities of any
series, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company
(unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such
Redemption Date, of the principal amount of Securities of such series to be redeemed and, if
applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of
Securities prior to the expiration of any restriction on such redemption provided in the terms of
such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an
Officers’ Certificate evidencing compliance with such restriction.

Section 11.03 Selection by Trustee of Securities to Be Redeemed

If less than all the Securities of any series are to be redeemed (unless all of the Securities of
such series and of a specified tenor are to be redeemed), the particular Securities to be redeemed
shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the
Outstanding Securities of such series not previously called for redemption, by such method as the
Trustee shall deem fair and appropriate and which may provide for the selection for redemption of
portions (equal to the minimum authorized denomination for Securities of that series or any
integral multiple thereof) of the principal amount of Securities of such series of a denomination
larger than the minimum authorized denomination for Securities of that series. If less than all of
the Securities of such series and of a specified tenor are to be redeemed, the particular
Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by
the Trustee, from the Outstanding

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Securities of such series and specified tenor not previously called for redemption in accordance
with the preceding sentence.

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

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

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

Section 11.04 Notice of Redemption

Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30
nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, at
his address appearing in the Security Register.

All notices of redemption shall state:

	(1)	 	the Redemption Date,
	 
	(2)	 	the Redemption Price,
	 
	(3)	 	if less than all the Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption of any Securities, the principal
amounts) of the particular Securities to be redeemed,
	 
	(4)	 	that on the Redemption Date the Redemption Price will become due and payable upon each such
Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and
after said date,
	 
	(5)	 	the place or places where such Securities are to be surrendered for payment of the Redemption
Price,
	 
	(6)	 	that the redemption is for a sinking fund, if such is the case, and
	 
	(7)	 	applicable CUSIP Numbers.

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

Section 11.05 Deposit of Redemption Price

On or before the Redemption Date specified in the notice of redemption given as provided in Section
11.04, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is
acting as its own Paying Agent, segregate and hold in trust as provided in Section 10.03) an amount
of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an

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Interest Payment Date) accrued interest on, all the Securities which are to be redeemed on that
date, other than any Securities called for redemption on that date which have been converted prior
to the date of such deposit.

If any Security called for redemption is converted, any money deposited with the Trustee or with
any Paying Agent or so segregated and held in trust for the redemption of such Security shall
(subject to any right of the Holder of such Security or any Predecessor Security to receive
interest as provided in the last paragraph of Section 3.07) be paid to the Company upon Company
Request or, if then held by the Company, shall be discharged from such trust.

Section 11.06 Securities Payable on Redemption Date

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the
Redemption Date, become due and payable at the Redemption Price therein specified, and from and
after such date (unless the Company shall default in the payment of the Redemption Price and
accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security
for redemption in accordance with said notice, such Security shall be paid by the Company at the
Redemption Price, together with accrued interest to the Redemption Date; provided,
however, that, unless otherwise specified as contemplated by Section 3.01, installments of
interest whose Stated Maturity is on or prior to the Redemption Date shall be payable to the
Holders of such Securities, or one or more Predecessor Securities, registered as such at the close
of business on the relevant Record Dates according to their terms and the provisions of Section
3.07.

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

Section 11.07 Securities Redeemed in Part

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

ARTICLE XII

SINKING FUNDS

Section 12.01 Applicability of Article

The provisions of this Article shall be applicable to any sinking fund for the retirement of
Securities of a series except as otherwise specified as contemplated by Section 3.01 for Securities
of such series.

The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of
such minimum amount provided for by the terms of Securities of any series is herein referred to as
an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.02.
Each

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sinking fund payment shall be applied to the redemption of Securities of any series as provided for
by the terms of Securities of such series.

Section 12.02 Satisfaction of Sinking Fund Payments with Securities

The Company (1) may deliver Outstanding Securities of a series (other than any previously called
for redemption) and (2) may apply as a credit Securities of a series which have been redeemed
either at the election of the Company pursuant to the terms of such Securities or through the
application of permitted optional sinking fund payments pursuant to the terms of such Securities,
in each case in satisfaction of all or any part of any sinking fund payment with respect to the
Securities of such series required to be made pursuant to the terms of such Securities as provided
for by the terms of such series; provided that such Securities have not been previously so
credited. Such Securities shall be received and credited for such purpose by the Trustee at the
Redemption Price specified in such Securities for redemption through operation of the sinking fund
and the amount of such sinking fund payment shall be reduced accordingly.

Section 12.03 Redemption of Securities for Sinking Fund

Not less than 60 days prior to each sinking fund payment date for any series of Securities, the
Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next
ensuing sinking fund payment for that series pursuant to the terms of that series, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which
is to be satisfied by delivering and crediting Securities of that series pursuant to Section 12.02
and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days
before each such sinking fund payment date the Trustee shall select the Securities to be redeemed
upon such sinking fund payment date in the manner specified in Section 11.03 and cause notice of
the redemption thereof to be given in the name of and at the expense of the Company in the manner
provided in Section 11.04. Such notice having been duly given, the redemption of such Securities
shall be made upon the terms and in the manner stated in Sections 11.06 and 11.07.

ARTICLE XIII

DEFEASANCE AND COVENANT DEFEASANCE

Section 13.01 Company’s Option to Effect Defeasance or Covenant Defeasance

The Company may elect, at its option at any time, to have either Section 13.02 or Section 13.03
applied to the Outstanding Securities of any series designated pursuant to Section 3.01 as being
defeasible pursuant to this Article XIII (hereinafter called a “Defeasible Series”), upon
compliance with the conditions set forth below in this Article XIII; provided that Section 13.02
shall not apply to any series of Securities that is convertible into or exchangeable for any other
securities pursuant to Section 3.01(16). Any such election shall be evidenced by an Establishment
Action or in another manner specified as contemplated by Section 3.01 for such Securities.

Section 13.02 Defeasance and Discharge

Upon the Company’s exercise of the option provided in Section 13.01 to have this Section 13.02
applied to the Outstanding Securities of any Defeasible Series and subject to Section 13.01, the
Company shall be deemed to have been discharged from its obligations with respect to the
Outstanding Securities of such series as provided in this Section on and after the date the
conditions set forth in Section 13.04 are satisfied (hereinafter called “Defeasance”). For this
purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the
entire

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indebtedness represented by the Outstanding Securities of such series and to have satisfied all its
other obligations under the Securities of such series and this Indenture insofar as the Securities
of such series are concerned (and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging the same), subject to the following which shall survive until otherwise
terminated or discharged hereunder: (1) the rights of Holders of Securities of such series to
receive, solely from the trust fund described in Section 13.04 and as more fully set forth in such
Section, payments in respect of the principal of and any premium and interest on such Securities of
such series when payments are due, (2) the Company’s obligations with respect to the Securities of
such series under Sections 3.04, 3.05, 3.06, 10.02 and 10.03, (3) the rights, powers, trusts,
duties and immunities of the Trustee hereunder and (4) this Article XIII. Subject to compliance
with this Article XIII, the Company may exercise its option provided in Section 13.01 to have this
Section 13.02 applied to the Outstanding Securities of any Defeasible Series notwithstanding the
prior exercise of its option provided in Section 13.01 to have Section 13.03 applied to the
Outstanding Securities of such series.

Section 13.03 Covenant Defeasance

Upon the Company’s exercise of the option provided in Section 13.01 to have this Section 13.03
applied to the Outstanding Securities of any Defeasible Series, (1) the Company shall be released
from its obligations under Section 8.01 and any covenants provided pursuant to Section 3.01(18),
9.01(2) or 9.01(7) for the benefit of the Holders of such Securities, and (2) the occurrence of any
event specified in Sections 5.01(3), 5.01(4) (with respect to Section 8.01 and any such covenants
provided pursuant to Section 3.01(18), 9.01(2) or 9.01(7)) and 5.01(7) shall be deemed not to be or
result in an Event of Default, in each case with respect to the Outstanding Securities of such
series as provided in this Section on and after the date the conditions set forth in Section 13.04
are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant
Defeasance means that the Company may omit to comply with and shall have no liability in respect of
any term, condition or limitation set forth in any such specified Section (to the extent so
specified in the case of Section 5.01(4)), whether directly or indirectly by reason of any
reference elsewhere herein to any such Section or by reason of any reference in any such Section to
any other provision herein or in any other document, but the remainder of this Indenture and the
Securities of such series shall be unaffected thereby.

Section 13.04 Conditions to Defeasance or Covenant Defeasance

The following shall be the conditions to application of either Section 13.02 or Section 13.03 to
the Outstanding Securities of any Defeasible Series:

	(1)	 	The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or
another trustee that satisfies the requirements contemplated by Section 6.09 and agrees to
comply with the provisions of this Article XIII applicable to it) as trust funds in trust for
the purpose of making the following payments, specifically pledged as security for, and
dedicated solely to, the benefit of the Holders of Outstanding Securities of such series, (A)
money in an amount, or (B) U.S. Government Obligations that through the scheduled payment of
principal and interest in respect thereof in accordance with their terms will provide, not
later than one day before the due date of any payment, money in an amount, or (C) a
combination thereof, in each case sufficient, in the opinion of a nationally recognized firm
of independent public accountants expressed in a written certification thereof delivered to
the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such
other qualifying trustee) to pay and discharge, the principal of and any premium and interest
on the Securities of such series on the

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	 	 	respective Stated Maturities, in accordance with the terms of this Indenture and the
Securities of such series. As used herein, “U.S. Government Obligation” means (x) any
security that is (i) a direct obligation of the United States of America for the payment of
which full faith and credit of the United States of America is pledged or (ii) an obligation
of a Person controlled or supervised by and acting as an agency or instrumentality of the
United States of America the payment of which is unconditionally guaranteed as a full faith
and credit obligation by the United States of America, which, in either case (i) or (ii), is
not callable or redeemable at the option of the issuer thereof, and (y) any depositary
receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as
amended) as custodian with respect to any U.S. Government Obligation specified in Clause (x)
and held by such custodian for the account of the holder of such depositary receipt, or with
respect to any specific payment of principal of or interest on any such U.S. Government
Obligation, provided that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depositary receipt from any
amount received by the custodian in respect of the U.S. Government Obligation or the specific
payment of principal or interest evidenced by such depositary receipt.
	 
	(2)	 	In the case of an election under Section 13.02, the Company shall have delivered to the
Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has
been published by, the Internal Revenue Service a ruling or (B) since the date first set forth
hereinabove, there has been a change in the applicable Federal income tax law, in either case
(A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders
of the Outstanding Securities of such series will not recognize gain or loss for Federal
income tax purposes as a result of the deposit, Defeasance and discharge to be effected with
respect to the Securities of such series and will be subject to Federal income tax on the same
amount, in the same manner and at the same times as would be the case if such deposit,
Defeasance and discharge were not to occur.

	(3)	 	In the case of an election under Section 13.03, the Company shall have delivered to the
Trustee an Opinion of Counsel to the effect that the Holders of the Outstanding Securities of
such series will not recognize gain or loss for Federal income tax purposes as a result of the
deposit and Covenant Defeasance to be effected with respect to the Securities of such series
and will be subject to Federal income tax on the same amount, in the same manner and at the
same times as would be the case if such deposit and Covenant Defeasance were not to occur.

	(4)	 	The Company shall have delivered to the Trustee an Officer’s Certificate to the effect that
the Securities of such series, if then listed on any securities exchange, will not be delisted
as a result of such deposit.

	(5)	 	No Event of Default or event that (after notice or lapse of time or both) would become an
Event of Default shall have occurred and be continuing at the time of such deposit or, with
regard to any Event of Default or any such event specified in Sections 5.01(5) and (6), at any
time on or prior to the 90th day after the date of such deposit (it being understood that this
condition shall not be deemed satisfied until after such 90th day).

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

-48-

 

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

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

	(9)	 	Such Defeasance or Covenant Defeasance shall not result in the trust arising from such
deposit constituting an investment company within the meaning of the Investment Company Act of
1940, as amended, unless such trust shall be qualified under such Act or exempt from
regulation thereunder.

Section 13.05 Deposited Money and U.S. Government Obligations to be Held in Trust; Other
Miscellaneous Provisions

All money and U.S. Government Obligations (including the proceeds thereof) deposited with the
Trustee or other qualifying trustee (solely for purposes of this Section and Section 13.06, the
Trustee and any such other trustee are referred to collectively as the “Trustee”) pursuant to
Section 13.04 in respect of the Securities of any Defeasible Series shall be held in trust and
applied by the Trustee, in accordance with the provisions of the Securities of such series and this
Indenture, to the payment, either directly or through any such Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Holders of Securities of such
series, of all sums due and to become due thereon in respect of principal and any premium and
interest, but money so held in trust need not be segregated from other funds except to the extent
required by law.

The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or
assessed against the U.S. Government Obligations deposited pursuant to Section 13.04 or the
principal and interest received in respect thereof other than any such tax, fee or other charge
that by law is for the account of the Holders of Outstanding Securities.

Anything in this Article XIII to the contrary notwithstanding, the Trustee shall deliver or pay to
the Company from time to time upon Company Request any money or U.S. Government Obligations held by
it as provided in Section 13.04 with respect to Securities of any Defeasible Series that, in the
opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, are in excess of the amount thereof that would then
be required to be deposited to effect an equivalent Defeasance or Covenant Defeasance with respect
to the Securities of such series.

Section 13.06 Reinstatement

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article
XIII with respect to the Securities of any series by reason of any order or judgment of any court
or governmental authority enjoining, restraining or otherwise prohibiting such application, then
the Company’s obligations under this Indenture and the Securities of such series shall be revived
and reinstated as though no deposit had occurred pursuant to this Article XIII with respect to
Securities of such series until such time as the Trustee or Paying Agent is permitted to apply all
money held in trust pursuant to Section 13.05 with respect to Securities of such series in
accordance with this Article XIII; provided, however, that if the Company makes any payment of
principal of or any premium or interest on any Security of such series following the reinstatement
of its obligations, the Company shall be

-49-

 

subrogated to the rights of the Holders of Securities of such series to receive such payment from
the money so held in trust.

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

(Signature Page to Follow)

-50-

 

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

	 	 	 	 	 
	PPG INDUSTRIES, INC.

 	 	 
	By:  	 /s/ William H. Hernandez	 	 
	 	Name:  	William H. Hernandez 	 	 
	 	Title:  	Senior Vice President, Finance
and Chief Financial Officer 	 	 
	 
	THE BANK OF NEW YORK TRUST COMPANY, N.A., as Trustee

 	 	 
	By:  	 /s/ J.
Bartolini	 	 
	 	Name:  	J. Bartolini	 	 
	 	Title:  	Vice President	 	 

-51-EX-4.2

 

Exhibit 4.2

PPG INDUSTRIES, INC.

AND

THE BANK OF NEW YORK TRUST COMPANY, N.A.

as Trustee

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of March 18, 2008

to

Indenture

Dated as of March 18, 2008

 

 

 

          FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of March 18, 2008,
between PPG INDUSTRIES, INC., a Pennsylvania corporation (the “Company”) and THE BANK OF NEW YORK
TRUST COMPANY, N.A., a national banking association, as trustee (the “Trustee”).

          Capitalized terms used herein and not otherwise defined herein have the meanings assigned to
those terms in the Indenture unless otherwise indicated.

RECITALS

     WHEREAS, the Company executed and delivered an indenture dated as of March 18, 2008 (the
“Indenture”) between the Company and the Trustee;

     WHEREAS, Section 9.01 of the Indenture provides that the Company and the Trustee may enter
into one or more indentures supplemental to the Indenture, without the consent of any Holders, to
add, among other things, covenants and agreements of the Company to be observed thereafter for the
protection of the Holders of all or any series of Securities and to establish the terms of any
series of Securities;

     WHEREAS, the Company and the Trustee wish to enter into this Supplemental Indenture to add the
covenants set forth in Article I hereof to the Indenture;

     WHEREAS, the Company desires to issue three series of Securities, the $600,000,000 5.75% Notes
Due 2013 (the “2013 Notes”), the $700,000,000 6.65% Notes Due 2018 (the “2018 Notes” and the
$250,000,000 7.70% Notes Due 2038 (the “2038 Notes”, and together with the 2013 Notes and the 2018
Notes, the “Notes”); and

     WHEREAS, all requirements necessary to make this Supplemental Indenture a valid, binding and
enforceable instrument in accordance with its terms have been done and performed, and the execution
and delivery of this Supplemental Indenture has been duly authorized in all respects.

     NOW, THEREFORE, in consideration of the covenants and agreements set forth herein, the parties
hereto hereby agree as follows:

ARTICLE I

Amendments to Certain Provisions of Indenture

     Section 1.01.
Amendment of Section 1.01. Section 1.01 of the
Indenture is hereby amended by adding the following defined term:

“Subsidiary”
means a corporation more than 50% of the outstanding stock of which
is owned, directly or indirectly, by the Company or by one or more
other Subsidiaries, or by the Company and one or more other
Subsidiaries. For the purposes of this definition, “voting
stock” means stock which ordinarily has voting power for the
election of directors, whether at all times or only so long as no
senior class of stock has such voting power by reason of any
contingency.

     Section 1.02.
Amendment of Section 1.03. Section 1.03 of the
Indenture is hereby amended by replacing the term
“subsidiary” used therein with the term
“Subsidiary”.

     Section 1.03. Amendment of Article X. Article X of the Indenture is hereby amended as
follows to add Sections 10.07 and 10.08:

10.07. Limitation on Liens.

1

 

          The Company covenants and agrees that it will not itself, and will not permit any Restricted
Subsidiary to, issue, assume, guarantee or incur any Secured Debt, without effectively providing
that the Securities (together with, if the Company shall so determine, any other indebtedness of
the Company or such Restricted Subsidiary then existing or thereafter created ranking equally with
the Securities, including guaranty of indebtedness of others) shall be secured equally and ratably
with (or prior to) such Secured Debt, so long as such Secured Debt shall be so secured, except that
this Section 10.07 shall not apply to Secured Debt secured by:

          (a) mortgages on property of any corporation existing at the time such corporation becomes a
Subsidiary;

          (b) mortgages on property existing at the time of acquisition thereof or to secure the payment
of all or any part of the purchase price thereof or to secure any indebtedness incurred prior to,
at the time of or within 90 days after the acquisition of such property for the purpose of
financing all or any part of the purchase price thereof;

          (c) mortgages on particular property to secure indebtedness incurred in financing all or any
part of the cost of exploration or development of such property, or to secure all or any part of
the cost of improvements to such property which is, in the opinion of the Board of Directors,
substantially unimproved, or to secure any indebtedness incurred to provide funds for such purpose;

          (d) mortgages on property in favor of the United States of America or any State thereof, or
any other country, or any political subdivision of any of the foregoing, to secure payments
pursuant to any contract or statute or to secure any indebtedness incurred for the purpose of
financing all or any part of the purchase price or the cost of construction of the property subject
to such mortgages;

          (e) mortgages which secure indebtedness owing to the Company or to a Wholly-owned Restricted
Subsidiary by a Subsidiary; and

          (f) any extension, renewal or replacement (or successive extensions, renewals or
replacements), in whole or in part, of any mortgage referred to in the foregoing clauses (a) to
(e), inclusive, or of any indebtedness secured thereby; provided that such extension, renewal or
replacement mortgage shall be limited to all or any part of the same property that secured the
mortgage extended, renewed or replaced (plus improvements on such property).

     As used in clauses (a) through (f) above, the terms “mortgage” or “mortgages” shall include
mortgages, pledges, liens and security interests.

          Notwithstanding the foregoing provisions of this Section 10.07, the Company and any one or
more Restricted Subsidiaries may, without equally and ratably securing the Securities, issue,
assume, guarantee or incur Secured Debt which would otherwise be subject to the foregoing
restrictions if, after giving effect to the Secured Debt to be issued, assumed, guaranteed or
incurred, the sum of (i) the aggregate amount of all such Secured Debt of the

2

 

Company and its Restricted Subsidiaries (not including Secured Debt permitted under clauses
(a) through (f) above) and (ii) the aggregate value of the Sale and Leaseback Transactions (as
defined in Section 10.08) in existence at such time (except Sale and Leaseback Transactions the
proceeds of which have been applied in accordance with Section 10.08(a)(ii)) does not exceed 10% of
the Consolidated Net Tangible Assets.

          “Restricted Subsidiary” means:

          (a) any Subsidiary other than

          (i) a Subsidiary substantially all of the physical properties of which are located, or
substantially all of the business of which is carried on, outside the United States of America
(“United States of America” shall not include the territories and possessions thereof), or

          (ii) a Subsidiary the primary business of which consists of purchasing accounts receivable
and/or making loans secured by accounts receivable or inventories and/or making investments in real
estate or providing services directly related thereto, or which is otherwise primarily engaged in
the business of a finance or real estate investment company, or

          (iii) a Subsidiary the primary business of which consists of leasing equipment, machinery,
vehicles, rolling stock and other articles for use in the business of the Company, or

          (iv) a Subsidiary the stock of which is held primarily for the purpose of securing the
investment of the Company in such Subsidiary, while the management of such Subsidiary is
accumulating funds for the purchase of such stock pursuant to written contract

          and

          (b) any Subsidiary specified in clauses (i) through (iv) of paragraph (a) above which at the
time of determination shall be a Restricted Subsidiary pursuant to designation by the Board of
Directors hereinafter provided for.

          The
Company may by resolution of the Board of Directors designate any Restricted Subsidiary to be an Unrestricted
Subsidiary, provided that in the opinion of the Board of Directors it does not own a major
manufacturing or research property, plant or facility of the Company and its Restricted
Subsidiaries taken as a whole, and may designate any Unrestricted Subsidiary to be a Restricted
Subsidiary. The Company may by resolution of the Board of Directors designate a newly acquired or formed Subsidiary to
be an Unrestricted Subsidiary, provided such designation takes place within 90 days of such
acquisition or formation.

          “Unrestricted Subsidiary” means any Subsidiary which is not a Restricted Subsidiary.

          “Consolidated Net Tangible Assets” means the aggregate amount of assets (less applicable
reserves and other properly deductible items) included on a consolidated balance sheet of the
Company and its Restricted Subsidiaries after deducting therefrom (i) all goodwill,

3

 

tradenames, trademarks, patents, copyrights, unamortized debt discount and expense and other
like intangibles and (ii) all current liabilities (excluding any current liabilities for money
borrowed having a maturity of less than 12 months that by their terms are renewable or extendible
beyond 12 months from such date at the option of the obligor, all as reflected in the Company’s
latest audited consolidated balance sheet contained in the Company’s most recent annual report to
its stockholders prior to the time as of which “Consolidated Net Tangible Assets” shall be
determined.

          “Secured Debt” means indebtedness for money borrowed if such indebtedness is secured by a
mortgage, pledge, lien, security interest or encumbrance on any of the present or future
manufacturing or research property, plant or facilities of the Company or any Restricted Subsidiary
(but not including a property determined not to be a principal property of the Company or a
Restricted Subsidiary by the Board of Directors in its discretion) or on any present or future
shares of stock or indebtedness of any Restricted Subsidiary.

          “Wholly-owned Restricted Subsidiary” means a Restricted Subsidiary all of the outstanding
capital stock of which, other than directors’ qualifying shares, and all of the Funded Debt of
which, shall at the time be owned by the Company or by one or more Wholly-owned Restricted
Subsidiaries, or by the Company in conjunction with one or more Wholly-owned Restricted
Subsidiaries.

          Section 10.08. Limitation on Sale and Leaseback Transactions and Transfers of Assets to
Unrestricted Subsidiaries.

          (a) The Company will not itself, and will not permit any Restricted Subsidiary to, enter into
any arrangement with any bank, insurance company or other lender or investor, or to which any such
lender or investor is a party, providing for the leasing to the Company or a Restricted Subsidiary
of any real property (except a lease for a temporary period not to exceed three years by the end of
which it is intended that the use of such real property by the lessee will be discontinued) which
has been or is to be sold or transferred by the Company or such Restricted Subsidiary to such
lender or investor or to any person to whom funds have been or are to be advanced by such lender or
investor on the security of such real property (herein referred to as a “Sale and Leaseback
Transaction”) unless either:

          (i) the Company or such Restricted Subsidiary could create a Secured Debt secured by a
mortgage, in accordance with Section 10.07, on the real property to be leased, in an amount
equal to the value of such Sale and Leaseback Transaction, without equally and ratably
securing the Securities, or

          (ii) the Company (and in any such case the Company covenants that it will) within 120
days after the Sale and Leaseback Transaction, regardless of whether such Sale and Leaseback
Transaction may have been made by the Company or by a Restricted Subsidiary, applies an
amount equal to the greater of (A) the net proceeds of the sale of the real property leased
pursuant to such Sale and Leaseback Transaction and (B) the fair value of the real property
so leased at the time of entering into such Sale and

4

 

Leaseback Transaction (as determined by the Board of Directors), to the retirement of
Funded Debt of the Company; provided, that the amount to be applied to the retirement of
Funded Debt of the Company shall be reduced by

     (A) the principal amount of any Securities delivered within 120 days after
such sale to the Trustee for retirement and cancellation, and

     (B) the principal amount of Funded Debt, other than such Securities,
voluntarily retired by the Company within 120 days after such sale;

provided, that no retirement referred to in this clause (ii) may be effected by payment at
maturity.

          For purposes of this Section 10.08 and Section 10.07, the term “value” shall mean, with
respect to a Sale and Leaseback Transaction, as of any particular time, the amount equal to the
greater of (i) the net proceeds of the sale of the real property leased pursuant to such Sale and
Leaseback Transaction and (ii) the fair value of the real property so leased at the time of
entering into such Sale and Leaseback Transaction (as determined by the Board of Directors),
divided first by the number of full years in the term of the lease and then multiplied by the
number of full years of such term remaining at the time of determination, without regard to any
renewal or extension options contained in the lease.

          “Funded Debt” means all indebtedness for money borrowed which by its terms matures at or is
extendable or renewable at the option of the obligor to a date more than twelve months after the
date of the creation of such indebtedness.

          (b) The Company will not itself, and will not permit any Restricted Subsidiary to, transfer
any assets which, in the opinion of the Board of Directors, constitute a major manufacturing or
research property, plant or facility of the Company and its Restricted Subsidiaries, taken as a
whole, to any Unrestricted Subsidiary.

ARTICLE II

Terms and Conditions

     Section 2.01. Terms and Conditions. The terms and characteristics of the Notes shall be as
follows (the numbered clauses set forth below corresponding to the numbered subsections of Section
3.01 of the Indenture, with terms used and not defined herein having the meanings specified in the
Indenture):

	 	(1)	 	the title of the 2013 Notes shall be “$600,000,000 5.75% Notes due 2013” and
the CUSIP for the 2013 Notes is 693506BA4; the title of the 2018 Notes shall be
“$700,000,000 6.65% Notes due 2018” and the CUSIP for the 2018 Notes is

5

 

	 	 	 	693506BB2; and the title of the 2038 Notes shall be “$250,000,000 7.70% Notes due
2038” and the CUSIP for the 2038 Notes is 693506BC0;
	 
	 	(2)	 	the aggregate principal amount of the 2013 Notes which may be authenticated and
delivered under the Indenture shall be limited to $600,000,000, the aggregate principal
amount of the 2018 Notes which may be authenticated and delivered under the Indenture
shall be limited to $700,000,000, and the aggregate principal amount of the 2038 Notes
which may be authenticated and delivered under the Indenture shall be limited to
$250,000,000; provided, however, that such authorized aggregate principal amount may
from time to time be increased above such amount by a resolution of
the Board of Directors to such effect;
	 
	 	(3)	 	not applicable;
	 
	 	(4)	 	the date on which the principal of the 2013 Notes shall be payable shall be
March 15, 2013, the date on which the principal of the 2018 Notes shall be payable
shall be March 15, 2018 and the date on which the principal of the 2038 Notes shall be
payable shall be March 15, 2038;
	 
	 	(5)	 	the 2013 Notes shall bear interest at the rate of 5.75% per annum, the 2018
Notes shall bear interest at the rate of 6.65% per annum and the 2038 Notes shall bear
interest at the rate of 7.70% per annum. Interest shall accrue from the original issue
date of the Notes. The Interest Payment Dates on which such interest will be payable
shall be March 15 and September 15 of each year, commencing on September 15, 2008. The
regular record date for the determination of Holders to whom interest is payable on any
such Interest Payment Date shall be the March 1 and September 1,
as the case may be, (in
each case, whether or not a business day) immediately preceding the related Interest
Payment Date;
	 
	 	(6)	 	the principal of and any premium or interest on any Notes shall be payable at
the office or agency of the Company maintained for that purpose in at the Corporate
Trust Office of the Trustee, currently located at The Bank of New York Trust Company,
N.A., 2 North LaSalle, Suite 1020, Chicago, IL 60602;
	 
	 	(7)	 	The Notes will be redeemable in whole or in part, at the Company’s option, at
any time and from time to time at a redemption price equal to the greater of (i) 100%
of the principal amount of the Notes to be redeemed and (ii) the sum of the present
values of the remaining scheduled payments of principal and interest thereon discounted
to the redemption date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate as defined below, plus 50 basis points, plus
accrued interest thereon to the date of redemption.
	 
	 	 	 	“Treasury Rate” means, with respect to any redemption date, the rate per annum equal
to the semiannual equivalent yield to a maturity of the Comparable Treasury Issue,
assuming a price for the Comparable Treasury Issue (expressed as a

6

 

	 	 	 	percentage of its principal amount equal to the Comparable Treasury Price for such
redemption date).

	 	 	 	“Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term
of the Notes to be redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of such Notes.
	 
	 	 	 	“Comparable Treasury Price” means, with respect to any redemption date, (i) the
average of the Reference Treasury Dealer Quotations for such redemption date, after
excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii)
if the Company obtains fewer than four such Reference Treasury Dealer Quotations,
the average of all such Quotations.
	 
	 	 	 	“Independent Investment Banker” means one of the Reference Treasury Dealers that the
Company appoints.
	 
	 	 	 	“Reference Treasury Dealer” means either Credit Suisse Securities (USA) LLC,
Deutsche Bank Securities Inc., J.P. Morgan Securities Inc. or Morgan Stanley & Co.
Incorporated and their successors, provided, however, that if any of the foregoing
ceases to be a primary U.S. Government securities dealer in New York City (a
“Primary Treasury Dealer”), the Company will substitute another Primary Treasury
Dealer.
	 
	 	 	 	“Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any redemption date, the average, as determined by the Company,
of the bid and asked prices for the Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) quoted in writing to the Company by
such Reference Treasury Dealer at 5:00 p.m. on the third business day preceding such
redemption date.
	 
	 	 	 	Notice of any redemption will be mailed at least 30 days but not more than 60 days
before the redemption date to each holder of Notes to be redeemed.
	 
	 	 	 	Unless the Company defaults in payment of the redemption price, on and after the
redemption date, interest will cease to accrue on the Notes or portions thereof
called for redemption.
	 
	 	(8)	 	not applicable;
	 
	 	(9)	 	the Notes shall be issuable in denominations of $2,000 or integral multiples of
$1,000 thereof;
	 
	 	(10)	 	not applicable

7

 

	 	(11)	 	not applicable;
	 
	 	(12)	 	not applicable;
	 
	 	(13)	 	not applicable;
	 
	 	(14)	 	the Notes shall be subject to Sections 13.02 (Defeasance) and 13.03 (Covenant
Defeasance) of the Indenture;
	 
	 	(15)	 	(a) each of the 2013 Notes, the 2018 Notes and the 2038 Notes shall be issued
in the form of one or more Global Securities; (b) the Depositary for such Global
Securities shall be The Depository Trust Company (“DTC”); and (c) the procedures with
respect to transfer and exchange of Global Securities shall be as set forth in the
Indenture;
	 
	 	(16)	 	not applicable;
	 
	 	(17)	 	If a Change of Control Triggering Event occurs, unless the Company has
exercised its option to redeem the Notes as described above, the Company shall be
required to make an offer (a “Change of Control Offer”) to each Holder of the Notes to
repurchase all or any part (equal to $2,000 or integral multiples of $1,000 thereof) of
that Holder’s Notes on the terms set forth in the Notes. In a Change of Control Offer,
the Company shall be required to offer payment in cash equal to 101% of the aggregate
principal amount of Notes repurchased, plus accrued and unpaid interest, if any, on the
Notes repurchased to the date of repurchase (a “Change of Control Payment”). Within 30
days following any Change of Control Triggering Event or, at the Company’s option,
prior to any Change of Control, but after public announcement of the transaction that
constitutes or may constitute the Change of Control, a notice shall be mailed to
Holders of the Notes describing the transaction that constitutes or may constitute the
Change of Control Triggering Event and offering to repurchase such Notes on the date
specified in the applicable notice, which date shall be no earlier than 30 days and no
later than 60 days from the date such notice is mailed (a “Change of Control Payment
Date”). The notice shall, if mailed prior to the date of consummation of the Change of
Control, state that the Change of Control Offer is conditioned on the Change of Control
Triggering Event occurring on or prior to the applicable Change of Control Payment
Date.
	 
	 	 	 	On each Change of Control Payment Date, the Company shall, to the extent lawful:
	 
	 	 	 	     (C) accept for payment all Notes or portions of Notes properly tendered
pursuant to the applicable Change of Control Offer;

8

 

	 	 	 	     (D) deposit with the Paying Agent an amount equal to the Change of Control
Payment in respect of all Notes or portions of Notes properly tendered; and
	 
	 	 	 	     (E) deliver or cause to be delivered to the Trustee the Notes properly
accepted together with an Officers’ Certificate stating the aggregate principal
amount of Notes or portions of Notes being repurchased.
	 
	 	 	 	The Company shall not be required to make a Change of Control Offer upon the
occurrence of a Change of Control Triggering Event if a third party makes such an
offer in the manner, at the times and otherwise in compliance with the requirements
for an offer made by the Company and the third party purchases all Notes properly
tendered and not withdrawn under its offer. In addition, the Company shall not
repurchase any Notes if there has occurred and is continuing on the Change of
Control Payment Date an Event of Default, other than a default in the payment of the
Change of Control Payment upon a Change of Control Triggering Event.
	 
	 	 	 	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 those laws
and regulations are applicable in connection with the repurchase of the Notes as a
result of a Change of Control Triggering Event. To the extent that the provisions of
any such securities laws or regulations conflict with the Change of Control Offer
provisions of the Notes, the Company shall comply with those securities laws and
regulations and shall not be deemed to have breached its obligations under the
Change of Control Offer provisions herein by virtue of any such conflict.
	 
	 	 	 	“Change of Control” shall mean the occurrence of any of the following: (i) the
direct or indirect sale, lease, transfer, conveyance or other disposition (other
than by way of merger or consolidation), in one or more series of related
transactions, of all or substantially all of the Company’s assets and the assets of
the Company’s Subsidiaries, taken as a whole, to any Person, other than the Company
or one of the Company’s Subsidiaries; (ii) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is
that any Person becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5
under the Exchange Act), directly or indirectly, of more than 50% of the Company’s
outstanding Voting Stock or other Voting Stock into which the Company’s Voting Stock
is reclassified, consolidated, exchanged or changed, measured by voting power rather
than number of shares; (iii) the Company consolidates with, or merges with or into,
any Person, or any Person consolidates with, or merges with or into, the Company, in
any such event pursuant to a transaction in which any of the Company’s outstanding
Voting Stock or the Voting Stock of such other Person is converted into or exchanged
for cash, securities or other property, other

9

 

	 	 	 	than any such transaction where the shares of the Company’s Voting Stock outstanding
immediately prior to such transaction constitute, or are converted into or exchanged
for, a majority of the Voting Stock of the surviving Person or any direct or
indirect parent company of the surviving Person immediately after giving effect to
such transaction; (iv) the first day on which a majority of the members of the
Company’s Board of Directors are not Continuing Directors; or (v) the adoption of a
plan relating to the Company’s liquidation or dissolution. The term “Person,” as
used in this definition, has the meaning given thereto in Section 13(d)(3) of the
Exchange Act.

	 	 	 	“Change of Control Triggering Event” means the occurrence of both a Change of
Control and a Rating Event.
	 
	 	 	 	“Continuing Directors” means, as of any date of determination, any member of the
Company’s Board of Directors who (i) was a member of such Board of Directors on the
date the Notes were issued or (ii) was nominated for election, elected or appointed
to such Board of Directors with the approval of a majority of the Continuing
Directors who were members of such Board of Directors at the time of such
nomination, election or appointment (either by a specific vote or by approval of the
Company’s proxy statement in which such member was named as a nominee for election
as a director, without objection to such nomination).
	 
	 	 	 	“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and the equivalent
investment grade credit rating from any replacement rating agency or Rating Agencies
selected by the Company.
	 
	 	 	 	“Moody’s” means Moody’s Investors Service, Inc., and its successors.
	 
	 	 	 	“Rating Agencies” means (i) each of Moody’s and S&P; and (ii) if any of Moody’s or
S&P ceases to rate the Notes or fails to make a rating of the Notes publicly
available for reasons outside of the Company’s control, a “nationally recognized
statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F)
under the Exchange Act selected by the Company (as certified by a resolution of the
Company’s Board of Directors) as a replacement agency for Moody’s or S&P, or all of
them, as the case may be.
	 
	 	 	 	“Rating Event” means the rating on the Notes is lowered by each of the Rating
Agencies and the Notes are rated below an Investment Grade Rating by each of the
Rating Agencies on any day during the period (which period shall be extended so long
as the rating of the Notes is under publicly announced consideration for a possible
downgrade by any of the Rating Agencies) commencing 60 days prior to the first
public notice of the occurrence of a Change of Control or the Company’s intention to
effect a Change of Control and ending 60 days following consummation of such Change
of Control.

10

 

	 	 	 	“S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill
Companies, Inc., and its successors.
	 
	 	 	 	“Voting Stock” means, with respect to any specified “Person” (as that term is used
in Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such
Person that is at the time entitled to vote generally in the election of the board
of directors of such Person.
	 
	 	(18)	 	not applicable.

ARTICLE III

Miscellaneous

     Section 3.01. Effect Of Supplemental Indenture. Upon the execution and delivery of this
Supplemental Indenture by the Company and the Trustee, the Indenture shall be modified in
accordance herewith, and this Supplemental Indenture shall form a part of the Indenture for all
purposes; and every Holder of Securities heretofore or hereafter authenticated and delivered under
the Indenture shall be bound thereby.

     Section 3.02. Indenture Remains in Full Force and Effect. Except as supplemented and amended
hereby, all provisions in the Indenture shall remain in full force and effect.

     Section 3.03. Indenture and Supplemental Indenture Construed Together. This Supplemental
Indenture is an indenture supplemental to and in implementation of the Indenture, and the Indenture
and this Supplemental Indenture shall henceforth be read and construed together.

     Section 3.04. Confirmation of Indenture. The Indenture, as supplemented and amended by this
Supplemental Indenture, is in all respects confirmed and ratified.

     Section 3.05. Conflict with Trust Indenture Act. If any provision of this Supplemental
Indenture limits, qualifies or conflicts with another provision hereof which is required to be
included in this Supplemental Indenture by any of the provisions of the Trust Indenture Act, such
required provision shall control.

     Section 3.06. Separability. In case any one or more of the provisions contained in this
Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality or
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

     Section 3.07. Successors and Assigns. All agreements in this Supplemental Indenture shall be
binding upon and inure to the benefit of the respective successors and assigns of the Company and
the Trustee.

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     Section 3.08. Certain Duties and Responsibilities of the Trustee. In entering into this
Supplemental Indenture, the Trustee shall be entitled to the benefit of every provision of the
Indenture relating to the conduct or affecting the liability of or affording protection to the
Trustee, whether or not elsewhere herein so provided. The Trustee, for itself and its successor or
successors, accepts the terms of the Indenture as amended by this Supplemental Indenture, and
agrees to perform the same, but only upon the terms and provisions defining and limiting the
liabilities and responsibilities of the Trustee, which terms and provisions shall in like manner
define and limit its liabilities and responsibilities in the performance of the trust created by
the Indenture. The Trustee makes no representations as to the validity or sufficiency of this
Supplemental Indenture other than as to the validity of its execution and delivery by the Trustee.
The recitals and statements herein are deemed to be those of the Company and not of the Trustee.

     Section 3.09. Governing Law. This Supplemental Indenture shall be governed by, and construed
in accordance with, the laws of the State of New York.

     Section 3.10. Counterparts. This Supplemental Indenture may be executed in any number of
counterparts by the parties hereto on separate counterparts, each of which, when so executed and
delivered, shall be deemed an original, but all such counterparts shall together constitute one and
the same instrument.

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

	 	 	 	 	 
	 	PPG INDUSTRIES, INC.

 	 
	 	By:  	/s/ William H. Hernandez	 
	 	 	Name:  	William H. Hernandez 	 
	 	 	Title:  	Senior Vice President, Finance and Chief Financial Officer 	 
	 
	 
	 	THE BANK OF NEW YORK TRUST

      COMPANY, N.A., as Trustee

 	 
	 	By:  	/s/
J. Bartolini	 
	 	 	Name:  	J. Bartolini	 
	 	 	Title:  	Vice President	 
	 

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