Document:

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                                                                   Exhibit 10.75

                          EXODUS COMMUNICATIONS, INC.

                 $1,000,000,000 11 5/8% Senior Notes due 2010

               (EURO) 200,000,000 11 3/8% Senior Notes due 2008

                                 _____________

                              Purchase Agreement
                              ------------------

                                                                   June 28, 2000

Goldman, Sachs & Co.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Morgan Stanley & Co. Incorporated
Chase Securities Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
FleetBoston Robertson Stephens Inc.
Thomas Weisel Partners LLC

c/o Goldman, Sachs & Co.
85 Broad Street,
New York, New York 10004

  As representative of the Several
  Purchasers Named on Schedule I
  hereto

Ladies and Gentlemen:

     Exodus Communications, Inc., a Delaware corporation (the "Company"),
proposes, subject to the terms and conditions stated herein, to issue and sell
to the Purchasers named in Schedule I hereto (the "Purchasers") an aggregate of
$1,000,000,000 principal amount of 11 5/8% Senior Notes due 2010 (the "Dollar
Securities") and (EURO)200,000,000 principal amount of 11 3/8% Senior Notes due
2008 (the "Euro Securities" and together with the Dollar Securities, the
"Securities").

     1.   The Company represents and warrants to, and agrees with, the
Purchasers that:
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          (a)  A preliminary offering circular, dated June 20, 2000 (the
"Preliminary Offering Circular") and an offering circular, dated June 28, 2000
(the "Offering Circular") has been prepared in connection with the offering of
the Securities. Additionally, the Company has previously prepared the following
documents: the Company's Quarterly Reports on Form 10-Q for the quarter ended
March 31, 2000, the Company's Annual Report on Form 10-K for the year ended
December 31, 1999, the Company's Current Reports on Form 8-K, filed April 7,
2000 and June 21, 2000 (together the "Exchange Act Reports"). Any reference
(other than in Section 7(a) hereof) to the Offering Circular shall be deemed to
refer to and include the Exchange Act Reports, and any reference (other than in
Section 7(a) hereof) to the Offering Circular as amended or supplemented as of
any specified date after the date hereof shall be deemed to include (i) the
Exchange Act Reports and all subsequent documents filed with the United States
Securities and Exchange Commission (the "Commission") pursuant to Section 13(a),
13(c) or 15(d) of the United States Securities Exchange Act of 1934, as amended
(the "Exchange Act"), after the date of the Offering Circular and prior to such
specified date and (ii) any Additional Issuer Information (as defined in Section
5(f)) furnished by the Company, prior to the completion of the distribution of
the Securities. The Exchange Act Reports, when they were filed with the
Commission, conformed in all material respects to the applicable requirements of
the Exchange Act and the applicable rules and regulations of the Commission
thereunder. The Preliminary Offering Circular, the Offering Circular and the
Exchange Act Reports did not, as of their respective dates, contain an untrue
statement of a material fact or omit to state a material fact necessary in order
to make the statements therein, in the light of the circumstances under which
they were made, not misleading; provided, however, that this representation and
warranty shall not apply to any statements or omissions made in reliance upon
and in conformity with information furnished in writing to the Company by a
Purchaser through Goldman, Sachs & Co. expressly for use therein. Since June 21,
2000, the Company has not filed any documents with the Commission pursuant to
Section 13(a), 13(c) or 15(d) of the Exchange Act other than the Exchange Act
Reports;

          (b)  Neither the Company nor any of its subsidiaries has sustained
since the date of the latest audited financial statements included in the
Offering Circular any material loss or interference with its business from fire,
explosion, flood or other calamity, whether or not covered by insurance, or from
any labor dispute or court or governmental action, order or decree, otherwise
than as set forth or contemplated in the Offering Circular; and, otherwise than
as set forth or contemplated in the Offering Circular, since the respective
dates as of which information is given in the Offering Circular, there has not
been any change in the capital stock or long-term debt of the Company or any of
its subsidiaries or any material adverse change, or any development that is
reasonably likely to result in a material adverse change, in or affecting the
general affairs, management, financial position, stockholders' equity or results
of operations of the Company and its subsidiaries;

          (c)  The Company has no subsidiary that is a "Significant Subsidiary"
of the Company within the meaning of Regulation S-X under the Securities Act of
1933, as amended (the "Securities Act");

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          (d)  The Company and its subsidiaries own no material real property.
The Company and its subsidiaries have good and marketable title to all personal
property owned by them, in each case free and clear of all liens, encumbrances
and defects except such as are described in the Offering Circular or such as do
not materially affect the value of such property and do not interfere with the
use made and proposed to be made of such property by the Company and its
subsidiaries; and any real property and buildings held under lease by the
Company and its subsidiaries are held by them under valid, subsisting and
enforceable leases with such exceptions as are not material and do not interfere
with the use made and proposed to be made of such property and buildings by the
Company and its subsidiaries;

          (e)  All of the issued shares of capital stock of the Company have
been duly and validly authorized and issued and are fully paid and non-
assessable;

          (f)  The Company has been duly incorporated and is validly existing as
a corporation in good standing under the laws of Delaware, with power and
authority (corporate and other) to own its properties and conduct its business
as described in the Offering Circular, and has been duly qualified as a foreign
corporation for the transaction of business and is in good standing under the
laws of each other jurisdiction where the failure to be so qualified could be
reasonably expected to have a material adverse effect on the business, financial
condition or results of operations of the Company, and each subsidiary of the
Company has been duly incorporated and is validly existing as a corporation in
good standing under the laws of its jurisdiction of incorporation;

          (g)  The Dollar Securities have been duly authorized and, when issued
and delivered pursuant to this Agreement, will have been duly executed,
authenticated, issued and delivered and will constitute valid and legally
binding obligations of the Company entitled to the benefits provided by the
Indenture to be dated as of July 6, 2000 (the "Dollar Indenture") between the
Company and Chase Manhattan Bank and Trust Company, National Association, as
Trustee (the "Trustee"), relating to the Dollar Securities, under which they are
to be issued, which will be substantially in the form previously delivered to
you; and the Euro Securities have been duly authorized and, when issued and
delivered pursuant to this Agreement, will have been duly executed,
authenticated, issued and delivered and will constitute valid and legally
binding obligations of the Company entitled to the benefits provided by the
Indenture to be dated as of July 6, 2000 (the "Euro Indenture", and, together
with the Dollar Indenture, the "Indentures") between the Company and the
Trustee, relating to the Euro Securities, under which they are to be issued,
which will be substantially in the form previously delivered to you; and the
Securities and the Indentures conform to the descriptions thereof in the
Offering Circular and are in substantially the form previously delivered to you;

          (h)  The Indentures have been duly authorized and, when executed and
delivered by the Company and the Trustee, will constitute valid and legally
binding instruments, enforceable in accordance with their terms, except as the
enforcement thereof may be limited by bankruptcy, insolvency (including, without
limitation, all laws relating to fraudulent transfers), reorganization,
moratorium or similar laws affecting enforcement of

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creditors' rights generally and except as enforcement thereof is subject to
general principles of equity (regardless of whether enforcement is considered in
a proceeding in equity or at law);

          (i)  Those certain Exchange and Registration Rights Agreements among
the Company and the Purchasers to be dated as of July 6, 2000 (the "Registration
Rights Agreements") have been duly authorized and, when executed and delivered
by the Company, will constitute valid and legally binding instruments,
enforceable in accordance with their terms, except as the enforcement thereof
may be limited by bankruptcy, insolvency (including, without limitation, all
laws relating to fraudulent transfers), reorganization, moratorium or similar
laws affecting enforcement of creditors' rights generally and except as
enforcement thereof is subject to general principles of equity (regardless of
whether enforcement is considered in a proceeding in equity or at law);

          (j)  None of the transactions contemplated by this Agreement
(including, without limitation, the use of the proceeds from the sale of the
Securities) will violate or result in a violation of Section 7 of the Exchange
Act, or any regulation promulgated thereunder, including, without limitation,
Regulations T, U, and X of the Board of Governors of the Federal Reserve System,
if applicable;

          (k)  Prior to the date hereof, neither the Company nor any of its
affiliates (as such term is defined in Rule 144 promulgated under the Securities
Act of 1933, as amended (the "Securities Act")) has taken any action which is
designed to or which has constituted or which might have reasonably been
expected to cause or result in stabilization or manipulation of the price of any
security of the Company in connection with the offering of the Securities;

          (l)  The issue and sale of the Securities and the compliance by the
Company with all of the provisions of the Securities, the Indentures, the
Registration Rights Agreements and this Agreement, and the consummation of the
transactions herein and therein contemplated will not conflict with or result in
a breach or violation of any of the terms or provisions of, or constitute a
default under, any indenture, mortgage, deed of trust, loan agreement or other
agreement or instrument to which the Company or any of its subsidiaries is a
party or by which the Company or any of its subsidiaries is bound or to which
any of the property or assets of the Company or any of its subsidiaries is
subject, nor will such action result in any violation of the provisions of the
Certificate of Incorporation or By-laws of the Company or any statute or any
order, rule or regulation of any court or governmental agency or body having
jurisdiction over the Company or any of its subsidiaries or any of their
properties; and no consent, approval, authorization, order, registration or
qualification of or with any such court or governmental agency or body is
required for the issue and sale of the Securities or the consummation by the
Company of the transactions contemplated by this Agreement or the Indentures,
except the filing of a notice on Form D by the Company with the Commission
pursuant to Section 5(h) hereof and such consents, approvals, authorizations,
registrations or qualifications as may be required under state securities or
Blue Sky laws in connection with the purchase and distribution of the Securities
by the Purchasers;

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          (m)  Neither the Company nor any of its subsidiaries is in violation
of its Certificate of Incorporation or Bylaws or in default in the performance
or observance of any material obligation, covenant or condition contained in any
indenture, mortgage, deed of trust, loan agreement, lease or other agreement or
instrument to which it is a party or by which it or any of its properties may be
bound;

          (n)  The statements set forth in the Offering Circular under the
captions "Description of Notes" insofar as they purport to constitute a summary
of the terms of the Securities, the Indentures and the Registration Rights
Agreements and under the captions "Certain United States Federal Income Tax
Considerations" and "Underwriting", insofar as they purport to describe the
provisions of the documents referred to therein, are accurate, complete and
fair;

          (o)  Other than as set forth in the Offering Circular, there are no
legal or governmental proceedings pending to which the Company or any of its
subsidiaries is a party or of which any property of the Company or any of its
subsidiaries is the subject which, if determined adversely to the Company or any
of its subsidiaries, would individually or in the aggregate have a material
adverse effect on the current or future financial position, stockholders' equity
or results of operations of the Company and its subsidiaries; and, to the
Company's knowledge, no such proceedings are threatened or contemplated by
governmental authorities or threatened by others;

          (p)  When the Securities are issued and delivered pursuant to this
Agreement, the Securities will not be of the same class (within the meaning of
Rule 144A under the Securities Act) as securities which are listed on a national
securities exchange registered under Section 6 of the Exchange Act or quoted in
a U.S. automated inter-dealer quotation system;

          (q)  The Company is subject to Section 13 or 15(d) of the Exchange
Act;

          (r)  The Company is not, and after giving effect to the offering and
sale of the Securities, will not be an "investment company", as such term is
defined in the United States Investment Company Act of 1940, as amended (the
"Investment Company Act");

          (s)  Neither the Company nor any or its subsidiaries, nor any person
acting on its or their behalf has offered or sold the Securities by means of any
general solicitation or general advertising within the meaning of Rule 502(c)
under the Securities Act or, with respect to Securities sold outside the United
States to persons who are not U.S. persons (as defined in Rule 902 under the
Securities Act), by means of any directed selling efforts within the meaning of
Rule 902 under the Securities Act and the Company, any affiliate of the Company
and any person acting on its or their behalf has complied with and will
implement the "offering restrictions" within the meaning of such Rule 902, it
being understood that the Company makes no representations in this clause (s) as
to the Purchasers;

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          (t)  Within the six months prior to the date hereof, neither the
Company nor any other person acting on behalf of the Company has offered or sold
to any person any Securities, or any substantially similar securities of the
Company, other than Securities offered or sold to the Purchasers hereunder. The
Company will take reasonable precautions designed to insure that any offer or
sale, direct or indirect, in the United States or to any U.S. person (as defined
in Rule 902 under the Securities Act) of any Securities or any substantially
similar security issued by the Company, within six months subsequent to the date
on which the distribution of the Securities has been completed (as notified to
the Company by Goldman, Sachs & Co), is made under restrictions and other
circumstances reasonably designed not to affect adversely the status of the
offer and sale of the Securities in the United States and to U.S. persons
contemplated by this Agreement as transactions exempt from the registration
provisions of the Securities Act;

          (u)  KPMG LLP, which has certified certain financial statements of the
Company and its subsidiaries is an independent public accountant as required by
the Securities Act and the rules and regulations of the Commission thereunder;

          (v)  The Company owns or possesses, or can acquire on reasonable
terms, adequate patents, patent rights, licenses, inventions, copyrights, know-
how (including trade secrets and other unpatented and/or unpatentable
proprietary or confidential information, systems or procedures), trademarks,
service marks, trade names or other intellectual property (collectively,
"Intellectual Property") necessary to carry on the business now operated by it,
and the Company has not received any notice of, and is not otherwise aware of,
any infringement of or conflict with asserted rights of others with respect to
any Intellectual Property or of any facts or circumstances which would render
invalid, or otherwise prevent or materially inhibit the Company from utilizing,
any Intellectual Property necessary to carry on the business now conducted by
the Company, and which infringement or conflict (if the subject of any
unfavorable decision, ruling or finding), invalidity, prevention or inhibition,
singly or in the aggregate, is reasonably likely to result in a material adverse
change in the general affairs, management, financial position, stockholders'
equity or results of operations of the Company;

          (w)  Except as described in the Offering Circular and except as would
not, singly or in the aggregate, result in a material adverse change in or
affecting the general affairs, management, financial position, stockholders'
equity or results of operations of the Company, (A) the Company is not in
violation of any federal, state, local or foreign statute, law, rule,
regulation, ordinance, code, policy or rule of common law or any judicial or
administrative interpretation thereof, including any judicial or administrative
order, consent, decree or judgment, relating to pollution or protection of human
health, the environment (including, without limitation, ambient air, surface
water, groundwater, land surface or subsurface strata) or wildlife, including,
without limitation, laws and regulations relating to the release or threatened
release of chemicals, pollutants, contaminants, wastes, toxic substances,
hazardous substances, petroleum or petroleum products (collectively "Hazardous
Materials") or to the manufacture, processing, distribution, use, treatment,
storage, disposal, transport or handling of Hazardous Materials (collectively,
"Environmental Laws"), (B) the Company has all permits, authorizations and
approvals

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required under any applicable Environmental Laws and is in compliance with their
requirements, (C) there are no pending or, to the best of the Company's
knowledge, threatened administrative, regulatory or judicial action, suits,
demands, demand letters, claims, liens, notices of noncompliance or violation,
investigation or proceedings relating to any Environmental Law against the
Company and (D) to the best of the Company's knowledge, there are no events or
circumstances that might reasonably be expected to form the basis of an order
for clean-up or remediation, or an action, suit or proceeding by any private
party or government body or agency, against or affecting the Company relating to
Hazardous Materials or any Environmental Laws;

     2.   (a)  Subject to the terms and conditions herein set forth, the Company
agrees to issue and sell to each of the Purchasers, and each of the Purchasers
agrees, severally and not jointly, to purchase from the Company, at a purchase
price of 97.25%  of the principal amount thereof, plus accrued interest, if any,
from July 6, 2000 to the Time of Delivery hereunder, the principal amount of
Securities set forth opposite the name of such Purchaser in Schedule I hereto.

          (b)  The Company may offer and sell such dollar-denominated senior
notes in an aggregate principal amount not to exceed $100,000,000 and such euro-
denominated senior notes in an aggregate principal amount not to exceed
(EURO)100,000,000, (the "Additional Securities") before the maturity date of the
Securities and upon written notice to Goldman, Sachs & Co. of its intention to
issue such Additional Securities; provided, however, that the Company shall have
                                  --------  -------
entered into a purchase agreement on substantially similar terms and conditions
as this Agreement and an Exchange and Registration Rights Agreement on
substantially similar terms and conditions as the Registration Rights Agreement,
in each case, with Goldman, Sachs & Co. (or such other underwriter as the
Company shall choose in the event that Goldman, Sachs & Co. shall decline the
representation of the Company in such offering) and such other of the Purchasers
as the Company and Goldman, Sachs & Co. shall mutually agree upon for the sale
and issuance of the Additional Securities.  The purchase price for any such
Additional Securities shall be equal to the then current market price of the
Dollar Securities less an initial purchaser's discount equal to 2.75% of the
principal amount of such Additional Securities or such other percentage as shall
be reasonably acceptable to Goldman, Sachs & Co and the Company.  Holders of
Additional Securities shall be entitled to receive an interest payment equal to
the holders of the Dollar Securities, on a percentage basis, on all Interest
Payment Dates (as defined in the Indentures) occurring after the date of
issuance of such Additional Securities.

     3.   Upon the authorization by Goldman, Sachs & Co. of the release of the
Securities, the several Purchasers propose to offer the Securities for sale upon
the terms and conditions set forth in this Agreement and the Offering Circular
and each Purchaser hereby represents and warrants to, and agrees with, the
Company that:

          (a)  It will offer and sell the Securities only to: (i) persons which
it reasonably believes are "qualified institutional buyers" ("QIBs") within the
meaning of Rule 144A under the Securities Act in transactions meeting the
requirements of Rule 144A or, (ii) upon the terms and conditions set forth in
Annex I to this Agreement;

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          (b)  Upon request of the Company, it will notify the Company upon
completion of the distribution of the Securities;

          (c)  It is an Institutional Accredited Investor; and

          (d)  It has not offered and will not offer or sell the Securities by
any form of general solicitation or general advertising, including but not
limited to the methods described in Rule 502(c) under the Securities Act.

     4.   (a)  The Securities to be purchased by each Purchaser hereunder will
be represented by one or more definitive Securities in book-entry form which
will be deposited by or on behalf of the Company to Goldman, Sachs & Co. with
The Depository Trust Company ("DTC") or other appropriate depository for the
account of such purchaser, or its designated custodian. The Company will deliver
the Securities to Goldman, Sachs & Co. for the account of each Purchaser against
payment by or on behalf of such Purchaser of the purchase price therefor by wire
transfer, payable to the order of the Company in Federal (or other same day)
funds, by causing DTC or other appropriate depository to credit the Securities
to the account of Goldman, Sachs & Co. at DTC or other appropriate depository.
The Company will cause the certificates representing the Securities to be made
available to Goldman, Sachs & Co. for checking at least twenty-four hours prior
to the Time of Delivery (as defined below) at the office of DTC or its
designated custodian (the "Designated Office") or at another place designated by
Goldman, Sachs & Co. The time and date of such delivery and payment shall be
9:30 a.m., New York City time, on July 6, 2000 or such other time and date as
Goldman, Sachs & Co. and the Company may agree upon in writing. Such time and
date are herein called the "Time of Delivery".

          (b)  The documents to be delivered at the Time of Delivery by or on
behalf of the parties hereto pursuant to Section 7 hereof, including the cross-
receipt for the Securities and any additional documents requested by the
Purchasers pursuant to Section 7(h) hereof, will be delivered at such time and
date at the offices of Fenwick & West LLP, Two Palo Alto Square, Palo Alto,
California 94306 (the "Closing Location"), and the Securities will be delivered
at the Designated Office, all at the Time of Delivery. A meeting will be held at
the Closing Location at 6:00 p.m., New York City time, on the New York Business
Day next preceding the Time of Delivery, at which meeting the final drafts of
the documents to be delivered pursuant to the preceding sentence will be
available for review by the parties hereto. For the purposes of this Section 4,
"New York Business Day" shall mean each Monday, Tuesday, Wednesday, Thursday and
Friday which is not a day on which banking institutions in New York are
generally authorized or obligated by law or executive order to close.

     5.   The Company agrees with each of the Purchasers:

          (a)  To prepare the Offering Circular in a form approved by you; to
make no amendment or any supplement to the Offering Circular which shall be
disapproved by you promptly after reasonable notice thereof; and to furnish you
with copies thereof;

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          (b)  Promptly from time to time to take such action as you may
reasonably request to qualify the Securities for offering and sale under the
securities laws of such jurisdictions as you may request and to comply with such
laws so as to permit the continuance of sales and dealings therein in such
jurisdictions for as long as may be necessary to complete the distribution of
the Securities, provided that in connection therewith the Company shall not be
required to qualify as a foreign corporation or to file a general consent to
service of process in any jurisdiction;

          (c)  To furnish the Purchasers with four copies of the Offering
Circular and each amendment or supplement thereto signed by an authorized
officer of the Company and with the independent accountants' report(s) in the
Offering Circular, and any amendment or supplement containing amendments to the
financial statements covered by such report(s), signed by the accountants, and
additional copies thereof in such quantities as you may from time to time
reasonably request, and if, at any time prior to the expiration of nine months
after the date of the Offering Circular, any event shall have occurred as a
result of which the Offering Circular as then amended or supplemented would
include an untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made when such Offering Circular is
delivered, not misleading, or, if for any other reason it shall be necessary or
desirable during such same period to amend or supplement the Offering Circular,
to notify you and upon your request to prepare and furnish without charge to
each Purchaser and to any dealer in securities as many copies as you may from
time to time reasonably request of an amended Offering Circular or a supplement
to the Offering Circular which will correct such statement or omission or effect
such compliance;

          (d)  During the period beginning from the date hereof and continuing
until the date six months after the Time of Delivery, not to offer, sell,
contract to sell or otherwise dispose of, except as provided hereunder any
securities of the Company that are substantially similar to the Securities
(other than Additional Securities);

          (e)  Not to be or become, at any time prior to the expiration of three
years after the Time of Delivery, an open-end investment company, unit
investment trust, closed-end investment company or face-amount certificate
company that is or is required to be registered under Section 8 of the
Investment Company Act;

          (f)  At any time when the Company is not subject to Section 13 or
15(d) of the Exchange Act, for the benefit of holders from time to time of
Securities, to furnish at its expense, upon request, to holders of Securities
and prospective purchasers of securities information (the "Additional Issuer
Information") satisfying the requirements of subsection (d)(4)(i) of Rule 144A
under the Securities Act;

          (g)  If requested by you, to use its best efforts to cause (i) the
Dollar Securities to be eligible for the PORTAL trading system of the National
Association of Securities Dealers, Inc. and (ii) the Euro Securities to be
eligible for listing on the Luxembourg Stock Exchange;

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          (h)  If applicable, to file with the Commission, not later than 15
days after the Time of Delivery, five copies of a notice on Form D under the
Securities Act (one of which will be manually signed by a person duly authorized
by the Company); to otherwise comply with the requirements of Rule 503 under the
Securities Act; and to furnish promptly to you evidence of each such required
timely filing (including a copy thereof);

          (i)  To furnish to the holders of the Securities as soon as
practicable after the end of each fiscal year an annual report (including a
balance sheet and statements of income, stockholders' equity and cash flows of
the Company and its consolidated subsidiaries certified by independent public
accountants) and, as soon as practicable after the end of each of the first
three quarters of each fiscal year (beginning with the fiscal quarter ending
after the date of the Offering Circular), consolidated summary financial
information of the Company and its subsidiaries for such quarter in reasonable
detail;

          (j)  During a period of five years from the date of the Offering
Circular, to furnish to you copies of all reports or other communications
(financial or other) furnished to stockholders of the Company, and to deliver to
you (i) as soon as they are available, copies of any reports and financial
statements furnished to or filed with the Commission or any securities exchange
on which the Securities or any class of securities of the Company is listed; and
(ii) such additional information concerning the business and financial condition
of the Company as you may from time to time reasonably request (such financial
statements to be on a consolidated basis to the extent the accounts of the
Company and its subsidiaries are consolidated in reports furnished to its
stockholders generally or to the Commission) provided that you agree to hold in
confidence any confidential or non-public information so provided;

          (k)  The Company agrees that, to the extent required under the Senior
Notes Indenture (as defined below), it will use the net proceeds of the sale of
the Securities to finance the purchase or other acquisition of any property,
inventory, asset or business directly or indirectly, by the Company or any
Restricted Subsidiary used in, or to be used in, the System and Network
Management Business or for such other purposes permitted by the Senior Notes
Indenture (as defined below). Neither the Company nor any of its Restricted
Subsidiaries has, as of the date hereof, incurred any Debt under Section
1008(11) of the Senior Notes Indenture. "Debt" has the meaning given thereto in
the Senior Notes Indenture. "Restricted Subsidiary" shall mean any subsidiary of
the Company that has not been designated an "Unrestricted Subsidiary" pursuant
to the Indenture dated as of December 1, 1999 between the Company and the Chase
Manhattan Bank and Trust Company, National Association, as trustee governing the
Company's 10 3/4% Senior Notes due 2009 (as amended or supplemented from time to
time, the "Senior Notes Indenture"). "System and Network Management Business"
means: (i) server and other hardware hosting; (ii) connectivity, data
networking, telecommunications or content for computer or data networks or
systems; (iii) management of computer or data networks or systems; (iv)
technology services, equipment sales or leasing or software licensing for
computer or data networks or systems (including Internet Protocol and any
successor protocol(s) based networks); and (v) businesses reasonably related,
complementary or incidental thereto;

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<PAGE>

          (l)  The Company and its affiliates and all persons acting on its
behalf (other than the Purchasers, as to whom the Company makes no
representation) will comply in all material respects with the offering
restrictions requirements of Regulation S in connection with the offering of the
Securities outside the United States.

     6.   The Company covenants and agrees with the several Purchasers that the
Company will pay or cause to be paid the following: (i) the fees, disbursements
and expenses of the Company's counsel and accountants in connection with the
issue of the Securities and all other expenses in connection with the
preparation, printing and filing of the Preliminary Offering Circular and the
Offering Circular and any amendments and supplements thereto and the mailing and
delivering of copies thereof to the Purchasers and dealers; (ii) the cost of
printing or producing this Agreement, any Agreement among Purchasers, the
Indentures, the Blue Sky and Legal Investment Memoranda, closing documents
(including any compilations thereof) and any other documents in connection with
the offering, purchase, sale and delivery of the Securities; (iii) all expenses
in connection with the qualification of the Securities for offering and sale
under state securities laws as provided in Section 5(b) hereof, including the
fees and disbursements of counsel for the Purchasers in connection with such
qualification and in connection with the Blue Sky and legal investment surveys;
(iv) any fees charged by securities rating services for rating the Securities;
(v) the cost of preparing the Securities; (vi) the fees and expenses of the
Trustee and any agent of the Trustee and the fees and disbursements of counsel
for the Trustee in connection with the Indentures and the Securities; (vii) any
cost incurred in connection with the designation of the Dollar Securities for
trading in PORTAL and the listing of the Euro Securities on the Luxembourg Stock
Exchange; and (viii) all other costs and expenses incident to the performance of
its obligations hereunder which are not otherwise specifically provided for in
this Section.  It is understood, however, that, except as provided in this
Section, and Sections 8 and 11 hereof, the Purchasers will pay all of their own
costs and expenses, including the fees of their counsel, transfer taxes on
resale of any of the Securities by them, and any advertising expenses connected
with any offers they may make.

     7.   The obligations of the Purchasers hereunder shall be subject, in their
discretion, to the condition that all representations and warranties and other
statements of the Company herein are, at and as of the Time of Delivery, true
and correct, the condition that the Company shall have performed all of its
obligations hereunder theretofore to be performed, and the following additional
conditions:

          (a)  Wilson Sonsini Goodrich & Rosati, Professional Corporation,
counsel for the Purchasers, shall have furnished to you such opinion or
opinions, dated the Time of Delivery, with respect to the matters covered in
paragraphs (i), (ii), (v), (vi), (vii), (x), (xi), (xii) and (xiii) of
subsection (b) below as well as such other related matters as you may reasonably
request, and such counsel shall have received such papers and information as
they may reasonably request to enable them to pass upon such matters;

          (b)  Fenwick & West LLP, counsel for the Company, (or such other
counsel as the Company shall deem appropriate and which shall be reasonably
acceptable to

                                      -11-
<PAGE>

Goldman, Sachs & Co.) shall have furnished to you their written opinion, dated
the Time of Delivery, in form and substance satisfactory to you, to the effect
that:

               (i)    The Company has been duly incorporated and is validly
existing as a corporation in good standing under the laws of the State of
Delaware, with corporate power and corporate authority to own its properties and
conduct its business as described in the Offering Circular;

               (ii)   The Company had, as of the dates specified in the Offering
Circular, duly authorized capital stock as set forth under the caption
"Capitalization" in the Offering Circular, and all of the issued and outstanding
shares of capital stock of the Company described therein have been duly and
validly authorized and issued, are non-assessable and to such counsel's
knowledge, are fully paid;

               (iii)  The Company has been duly qualified as a foreign
corporation for the transaction of business and is in good standing under the
laws of each jurisdiction within the United States in which it owns or leases
properties or employs personnel, where the failure to be so qualified would have
a material adverse effect on the business, financial condition or results of
operations of the Company;

               (iv)   To such counsel's knowledge and other than as set forth in
the Offering Circular, there are no legal or governmental proceedings pending to
which the Company is a party or of which any property of the Company is the
subject which, if determined adversely to the Company, would individually or in
the aggregate have a material adverse effect on the current or future
consolidated financial position, stockholders' equity or results of operations
of the Company; and, to such counsel's knowledge, no such proceedings are
threatened by governmental authorities or threatened by others;

               (v)    This Agreement has been duly authorized, executed and
delivered by the Company to you;

               (vi)   The Securities have been duly authorized, executed,
authenticated, issued and delivered and constitute valid and legally binding
obligations of the Company;

               (vii)  The Indentures and the Registration Rights Agreements have
been duly authorized, executed and delivered by the Company and constitute valid
and legally binding instruments, enforceable in accordance with their respective
terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization and
other laws of general applicability relating to or affecting creditors' rights
and to general equity principles;

               (viii) The issue and sale of the Securities being delivered at
the Time of Delivery and the compliance by the Company with all of the
provisions of the Securities, the Indentures, this Agreement and the
Registration Rights Agreements and the consummation of the transactions herein
and therein contemplated were they to be

                                      -12-
<PAGE>

completed on or prior to the date of such opinion and assuming the absence of
any applicable cure period, waiting period or other similar provision, do not
conflict with or result in a breach or violation of any of the terms or
provisions of, or constitute a default under, any of the agreements filed as
exhibits to the Company's Annual Report filed on Form 10-K for the year ended
December 31, 1999, its Quarterly Report on Form 10-Q for the quarter ended March
31, 2000 or any other Exchange Act Report or any agreements entered into by the
Company after March 31, 2000 that would be required to be filed as a material
agreement exhibit on Form 10-Q or any other Exchange Act Report (in each case, a
"Material Agreement") (provided that in determining which documents would be
required to be so filed, such counsel may rely on an officer's certificate that
specifies agreements that the Company or any of its significant subsidiaries has
entered into since March 31, 2000) nor does such action result in any violation
of the provisions of the Certificate of Incorporation or Bylaws of the Company
or any of its significant subsidiaries or any statute or any order, rule or
regulation known to such counsel of any court or governmental agency or body
having jurisdiction over the Company or any of its significant subsidiaries or
any of their properties;

               (ix)  No consent, approval, authorization, order, registration or
qualification of or with any United States court or United States governmental
agency or United States body is required for the issue and sale of the
Securities or the consummation by the Company of the transactions contemplated
by this Agreement, the Indentures or the Registration Rights Agreements, except
(A) such consents, approvals, authorizations, orders, registrations or
qualifications as may be required under state securities or Blue Sky laws in
connection with the purchase and distribution of the Securities by the
Purchasers (as to which such counsel renders no opinion) or (B) such consents,
approvals, authorizations, orders, registrations or qualifications as are
referenced in the Offering Circular;

               (x)   The statements set forth in the Offering Circular insofar
as they purport to constitute a summary of the terms of the Securities, the
Indentures and the Registration Rights Agreements, and under the captions
"Certain United States Federal Income Tax Considerations" and "Underwriting,"
insofar as they purport to describe the provisions of the laws and documents
referred to therein, are accurate and complete in all material respects;

               (xi)  The Exchange Act Reports (other than the financial
statements and related notes and schedules (and financial data) therein, as to
which such counsel need express no opinion), when they were filed with the
Commission, complied as to form in all material respects with the requirements
of the Exchange Act, and the rules and regulations of the Commission promulgated
thereunder;

               (xii) No registration of the Securities under the Securities Act,
and no qualification of an indenture under the Trust Indenture Act of 1939 with
respect thereto, is required for the offer and sale to, and initial resale of
the Securities by, the Purchasers in the manner contemplated by this Agreement;
and

                                      -13-
<PAGE>

               (xiii) The Company is not an "investment company," as such term
is defined in the Investment Company Act.

     In addition, such counsel shall state that, although they are not passing
upon and do not assume any responsibility for, nor have they independently
verified, the accuracy, completeness or fairness of the statements contained in
the Preliminary Offering Circular and the Offering Circular, except for and to
the extent of those referred to in the opinion in subsection (x) of this Section
7(b), they have participated in certain conferences with officers and other
employees of the Company, representatives of the Company's independent certified
public accountants and representatives of the Purchasers with respect to the
preparation of the Preliminary Offering Circular and the Offering Circular, and
no facts have come to the attention of attorneys devoting attention to the
representation of the Company in its preparation of the Preliminary Offering
Circular and the Offering Circular that have caused them to believe that, as of
their respective dates and as of the Time of Delivery, the Preliminary Offering
Circular and the Offering Circular or any further amendments thereto made by the
Company prior to such Time of Delivery (other than the financial statements and
related notes, related schedules and financial data included therein, as to
which such counsel need express no opinion) contained an untrue statement of a
material fact or omitted to state a material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading. Further, such counsel shall state that,
although they are not passing upon and do not assume any responsibility for, nor
have they independently verified, the accuracy, completeness or fairness of the
statements contained in the Exchange Act Reports, they have participated in
certain conferences with officers and other employees of the Company, and
representatives of the Company's independent certified public accountants with
respect to the preparation of the respective Exchange Act Reports, and no facts
have come to the attention of attorneys devoting attention to the representation
of the Company in its preparation of the respective Exchange Act Reports that
have caused them to believe that as of the dates on which the respective
Exchange Act Reports were filed with the Commission, the Exchange Act Reports
(other than the financial statements and related notes, related schedules and
financial data included therein, as to which such counsel need express no
opinion) contained an untrue statement of material fact or omitted to state a
material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made when such
documents were so filed, not misleading.

          (c)  On the date of the Offering Circular prior to the execution of
this Agreement and also at the Time of Delivery, KPMG LLP shall have furnished
to you a letter or letters, dated the respective dates of delivery thereof, in
form and substance satisfactory to you, to the effect set forth in Annex II
hereto;

          (d)  (i) Neither the Company nor any of its subsidiaries shall have
sustained since the date of the latest audited financial statements included in
the Offering Circular any loss or interference with its business from fire,
explosion, flood or other calamity, whether or not covered by insurance, or from
any labor dispute or court or governmental action, order or decree, otherwise
than as set forth or contemplated in the

                                      -14-
<PAGE>

Offering Circular, and (ii) since the respective dates as of which information
is given in the Offering Circular there shall not have been any change in the
capital stock or long-term debt of the Company or any of its subsidiaries or any
change, or any development involving a prospective change, in or affecting the
general affairs, management, financial position, stockholders' equity or results
of operations of the Company and its subsidiaries, otherwise than as set forth
or contemplated in the Offering Circular, the effect of which, in any such case
described in Clause (i) or (ii), is in the judgment of the Purchasers so
material and adverse as to make it impracticable or inadvisable to proceed with
the public offering or the delivery of the Securities on the terms and in the
manner contemplated in this Agreement and in the Offering Circular;

          (e)  On or after the date hereof (i) no downgrading shall have
occurred in the rating accorded the Company's debt securities by any "nationally
recognized statistical rating organization", as that term is defined by the
Commission for purposes of Rule 436(g)(2) under the Securities Act, and (ii) no
such organization shall have publicly announced that it has under surveillance
or review, with possible negative implications, its rating of any of the
Company's debt securities;

          (f)  On or after the date hereof there shall not have occurred any of
the following: (i) a suspension or material limitation in trading in securities
generally on the New York Stock Exchange; or on NASDAQ; (ii) a suspension or
material limitation in trading in the Company's securities on NASDAQ; (iii) a
general moratorium on commercial banking activities declared by either Federal
or New York or California State authorities; (iv) the outbreak or escalation of
hostilities involving the United States or the declaration by the United States
of a national emergency or war, if the effect of any such event specified in
this Clause (iv) in the judgment of the Purchasers makes it impracticable or
inadvisable to proceed with the public offering or the delivery of the
Securities on the terms and in the manner contemplated in the Offering Circular;
or (v) the occurrence of any material adverse change in the existing financial,
political or economic conditions in the United States or elsewhere which, in the
judgment of the Purchasers, would materially and adversely affect the financial
markets or markets for the Securities or other debt securities;

          (g)  The Dollar Securities have been designated for trading on PORTAL;

          (h)  The Company shall have furnished to you executed copies of the
Indentures and the Registration Rights Agreements; and

          (i)  The Company shall have furnished or caused to be furnished to you
at the Time of Delivery certificates of officers of the Company satisfactory to
you as to the accuracy of the representations and warranties of the Company
herein at and as of such Time of Delivery, as to the performance by the Company
of all of its obligations hereunder to be performed at or prior to such Time of
Delivery, as to the matters set forth in subsection (d) of this Section and as
to such other matters as you may reasonably request.

     8.   (a)  The Company will indemnify and hold harmless each Purchaser
against any losses, claims, damages or liabilities, joint or several, to which
such Purchaser

                                      -15-
<PAGE>

may become subject, under the Securities Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out
of or are based upon an untrue statement or alleged untrue statement of a
material fact contained in the Preliminary Offering Circular or the Offering
Circular, or any amendment or supplement thereto, or arise out of or are based
upon the omission or alleged omission to state therein a material fact necessary
to make the statements therein not misleading, and will reimburse each Purchaser
for any legal or other expenses reasonably incurred by such Purchaser in
connection with investigating or defending any such action or claim as such
expenses are incurred; provided, however, that the Company shall not be liable
in any such case to the extent that any such loss, claim, damage or liability
arises out of or is based upon an untrue statement or alleged untrue statement
or omission or alleged omission made in the Preliminary Offering Circular or the
Offering Circular or any such amendment or supplement in reliance upon and in
conformity with written information furnished to the Company by any Purchaser
through Goldman, Sachs & Co. expressly for use therein.

          (b)  Each Purchaser will indemnify and hold harmless the Company
against any losses, claims, damages or liabilities to which the Company may
become subject, under the Securities Act or otherwise, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of or
are based upon an untrue statement or alleged untrue statement of a material
fact contained in the Preliminary Offering Circular or the Offering Circular, or
any amendment or supplement thereto, or arise out of or are based upon the
omission or alleged omission to state therein a material fact or necessary to
make the statements therein not misleading, in each case to the extent, but only
to the extent, that such untrue statement or alleged untrue statement or
omission or alleged omission was made in the Preliminary Offering Circular or
the Offering Circular or any such amendment or supplement in reliance upon and
in conformity with written information furnished to the Company by such
Purchaser through Goldman, Sachs & Co. expressly for use therein; and will
reimburse the Company for any legal or other expenses reasonably incurred by the
Company in connection with investigating or defending any such action or claim
as such expenses are incurred.

          (c)  Promptly after receipt by an indemnified party under subsection
(a) or (b) above of notice of the commencement of any action, such indemnified
party shall, if a claim in respect thereof is to be made against the
indemnifying party under such subsection, notify the indemnifying party in
writing of the commencement thereof; but the omission so to notify the
indemnifying party shall not relieve it from any liability which it may have to
any indemnified party otherwise than under such subsection.  In case any such
action shall be brought against any indemnified party and it shall notify the
indemnifying party of the commencement thereof, the indemnifying party shall be
entitled to participate therein and, to the extent that it shall wish, jointly
with any other indemnifying party similarly notified, to assume the defense
thereof, with counsel satisfactory to such indemnified party (who shall not,
except with the consent of the indemnified party, be counsel to the indemnifying
party), and, after notice from the indemnifying party to such indemnified party
of its election so to assume the defense thereof, the indemnifying party shall
not be liable to such indemnified party under such subsection for any legal
expenses of other counsel or any other expenses, in each case subsequently
incurred by such indemnified party, in

                                      -16-
<PAGE>

connection with the defense thereof other than reasonable costs of
investigation. No indemnifying party shall, without the written consent of the
indemnified party, effect the settlement or compromise of, or consent to the
entry of any judgment with respect to, any pending or threatened action or claim
in respect of which indemnification or contribution may be sought hereunder
(whether or not the indemnified party is an actual or potential party to such
action or claim) unless such settlement, compromise or judgment (i) includes an
unconditional release of the indemnified party from all liability arising out of
such action or claim and (ii) does not include a statement as to, or an
admission of, fault, culpability or a failure to act, by or on behalf of any
indemnified party.

          (d)  If the indemnification provided for in this Section 8 is
unavailable to or insufficient to hold harmless an indemnified party under
subsection (a) or (b) above in respect of any losses, claims, damages or
liabilities (or actions in respect thereof) referred to therein, then each
indemnifying party shall contribute to the amount paid or payable by such
indemnified party as a result of such losses, claims, damages or liabilities (or
actions in respect thereof) in such proportion as is appropriate to reflect the
relative benefits received by the Company on the one hand and the Purchasers on
the other from the offering of the Securities. If, however, the allocation
provided by the immediately preceding sentence is not permitted by applicable
law or if the indemnified party failed to give the notice required under
subsection (c) above, then each indemnifying party shall contribute to such
amount paid or payable by such indemnified party in such proportion as is
appropriate to reflect not only such relative benefits but also the relative
fault of the Company on the one hand and the Purchasers on the other in
connection with the statements or omissions which resulted in such losses,
claims, damages or liabilities (or actions in respect thereof), as well as any
other relevant equitable considerations. The relative benefits received by the
Company on the one hand and the Purchasers on the other shall be deemed to be in
the same proportion as the total net proceeds from the offering (before
deducting expenses) received by the Company bear to the total underwriting
discounts and commissions received by the Purchasers, in each case as set forth
in the Offering Circular. The relative fault shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact
relates to information supplied by the Company on the one hand or the Purchasers
on the other and the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission. The Company
and the Purchasers agree that it would not be just and equitable if contribution
pursuant to this subsection (d) were determined by pro rata allocation (even if
the Purchasers were treated as one entity for such purpose) or by any other
method of allocation which does not take account of the equitable considerations
referred to above in this subsection (d). The amount paid or payable by an
indemnified party as a result of the losses, claims, damages or liabilities (or
actions in respect thereof) referred to above in this subsection (d) shall be
deemed to include any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such action
or claim. Notwithstanding the provisions of this subsection (d), no Purchaser
shall be required to contribute any amount in excess of the amount by which the
total price at which the Securities underwritten by it and distributed to
investors were offered to investors exceeds the amount of any damages which such
Purchaser has otherwise been required to pay by

                                      -17-
<PAGE>

reason of such untrue or alleged untrue statement or omission or alleged
omission. The Purchasers' obligations in this subsection (d) to contribute are
several in proportion to their respective underwriting obligations and not
joint.

          (e)  The obligations of the Company under this Section 8 shall be in
addition to any liability which the Company may otherwise have and shall extend,
upon the same terms and conditions, to each person, if any, who controls any
Purchaser within the meaning of the Act; and the obligations of the Purchasers
under this Section 8 shall be in addition to any liability which the respective
Purchasers may otherwise have and shall extend, upon the same terms and
conditions, to each officer and director of the Company and to each person, if
any, who controls the Company within the meaning of the Securities Act.

     9.   (a)  If any Purchaser shall default in its obligation to purchase the
Securities which it has agreed to purchase hereunder, you may in your discretion
arrange for you or another party or other parties to purchase such Securities on
the terms contained herein.  If within thirty-six hours after such default by
any Purchaser you do not arrange for the purchase of such Securities, then the
Company shall be entitled to a further period of thirty-six hours within which
to procure another party or other parties satisfactory to you to purchase such
Securities on such terms.  In the event that, within the respective prescribed
periods, you notify the Company that you have so arranged for the purchase of
such Securities, or the Company notifies you that it has so arranged for the
purchase of such Securities, you or the Company shall have the right to postpone
the Time of Delivery for a period of not more than  seven days, in order to
effect whatever changes may thereby be made necessary in the Offering Circular,
or in any other documents or arrangements, and the Company agrees to prepare
promptly any amendments to the Offering Circular which in your opinion may
thereby be made necessary.  The term "Purchaser" as used in this Agreement shall
include any person substituted under this Section with like effect as if such
person had originally been a party to this Agreement with respect to such
Securities.

          (b)  If, after giving effect to any arrangements for the purchase of
the Securities of a defaulting Purchaser or Purchasers by you and the Company as
provided in subsection (a) above, the aggregate principal amount of such
Securities which remains unpurchased does not exceed one-eleventh of the
aggregate principal amount of all the Securities, then the Company shall have
the right to require each non-defaulting Purchaser to purchase the principal
amount of Securities which such Purchaser agreed to purchase hereunder and, in
addition, to require each non-defaulting Purchaser to purchase its pro rata
share (based on the principal amount of Securities which such Purchaser agreed
to purchase hereunder) of the Securities of such defaulting Purchaser or
Purchasers for which such arrangements have not been made; but nothing herein
shall relieve a defaulting Purchaser from liability for its default.

          (c)  If, after giving effect to any arrangements for the purchase of
the Securities of a defaulting Purchaser or Purchasers by you and the Company as
provided in subsection (a) above, the aggregate principal amount of Securities
which remains unpurchased exceeds one-eleventh of the aggregate principal amount
of all the Securities,

                                      -18-
<PAGE>

or if the Company shall not exercise the right described in subsection (b) above
to require non-defaulting Purchasers to purchase Securities of a defaulting
Purchaser or Purchasers, then this Agreement shall thereupon terminate, without
liability on the part of any non-defaulting Purchaser or the Company, except for
the expenses to be borne by the Company and the Purchasers as provided in
Section 6 hereof and the indemnity and contribution agreements in Section 8
hereof; but nothing herein shall relieve a defaulting Purchaser from liability
for its default.

     10.  The respective indemnities, agreements, representations, warranties
and other statements of the Company and the several Purchasers, as set forth in
this Agreement or made by or on behalf of them, respectively, pursuant to this
Agreement, shall remain in full force and effect, regardless of any
investigation (or any statement as to the results thereof) made by or on behalf
of any Purchaser or any controlling person of any Purchaser, or the Company, or
any officer or director or controlling person of the Company, and shall survive
delivery of and payment for the Securities.

     11.  If this Agreement shall be terminated pursuant to Section 9 hereof,
the Company shall not then be under any liability to any Purchaser except as
provided in Sections 6 and 8 hereof; but, if for any other reason, the
Securities are not delivered by or on behalf of the Company as provided herein,
the Company will reimburse the Purchasers through you for all out-of-pocket
expenses approved in writing by you, including fees and disbursements of
counsel, reasonably incurred by the Purchasers in making preparations for the
purchase, sale and delivery of the Securities, but the Company shall then be
under no further liability to any Purchaser except as provided in Sections 6 and
8 hereof.

     12.  In all dealings hereunder, you shall act on behalf of each of the
Purchasers, and the parties hereto shall be entitled to act and rely upon any
statement, request, notice or agreement on behalf of any Purchaser made or given
by you jointly or by Goldman, Sachs & Co. on behalf of you as the
representatives.

     13.  All statements, requests, notices and agreements hereunder shall be in
writing, and if to the Purchasers shall be delivered or sent by mail, telex or
facsimile transmission to you as the representatives in care of Goldman, Sachs &
Co., 32 Old Slip, 21st Floor, New York, New York 10004, Attention: Registration
Department; and if to the Company shall be delivered or sent by mail, telex or
facsimile transmission to the address of the Company set forth in the Offering
Circular, Attention: Secretary; provided, however, that any notice to a
Purchaser pursuant to Section 8(c) hereof shall be delivered or sent by mail,
telex or facsimile transmission to such Purchaser at its address set forth in
its Purchasers' Questionnaire, or telex constituting such Questionnaire, which
address will be supplied to the Company by you upon request.  Any such
statements, requests, notices or agreements shall take effect upon receipt
thereof.

     14.  This Agreement shall be binding upon, and inure solely to the benefit
of, the Purchasers, the Company and, to the extent provided in Sections 8 and 10
hereof, the officers and directors of the Company and each person who controls
the Company or any Purchaser, and their respective heirs, executors,
administrators, successors and assigns,

                                      -19-
<PAGE>

and no other person shall acquire or have any right under or by virtue of this
Agreement. No purchaser of any of the Securities from any Purchaser shall be
deemed a successor or assign by reason merely of such purchase.

     15.  In respect of any judgment or order given or made for any amount due
hereunder that is expressed and paid in a currency (the "judgment currency")
other than United States dollars, the Company will indemnify each Purchaser
against any loss incurred by such Purchaser as a result of any variation as
between (i) the rate of exchange at which the United States dollar amount is
converted into the judgment currency for the purpose of such judgment or order
and (ii) the rate of exchange at which a Purchaser is able to purchase United
States dollars with the amount of judgment currency actually received by such
Purchaser.  The foregoing indemnity shall constitute a separate and independent
obligation of the Company and shall continue in full force and effect
notwithstanding any such judgment or order as aforesaid.  The term "rate of
exchange" shall include any premiums and costs of exchange payable in connection
with the purchase of or conversion into United States dollars.

     16.  Time shall be of the essence of this Agreement.

     17.  This Agreement shall be governed by and construed in accordance with
the laws of the State of New York.

     18.  This Agreement may be executed by any one or more of the parties
hereto in any number of counterparts, each of which shall be deemed to be an
original, but all such respective counterparts shall together constitute one and
the same instrument.

                                      -20-
<PAGE>

     If the foregoing is in accordance with your understanding, please sign and
return to us ten (10) counterparts hereof, and upon the acceptance hereof by
you, on behalf of each of the Purchasers, this letter and such acceptance hereof
shall constitute a binding agreement between each of the Purchasers and the
Company.  It is understood that your acceptance of this letter on behalf of each
of the Purchasers is pursuant to the authority set forth in a form of Agreement
among Purchasers, the form of which shall be submitted to the Company for
examination upon request, but without warranty on your part as to the authority
of the signers thereof.

                                    Very truly yours,

                                    EXODUS COMMUNICATIONS, INC.

                                    By: /s/ R. Marshall Case
                                        -------------------------------------

                                    Name: R. Marshall Case
                                          -----------------------------------

                                    Title: Executive Vice President, Finance
                                           ----------------------------------

                                           and Chief Financial Officer
                                    -----------------------------------------

Accepted as of the date hereof:
Goldman, Sachs & Co.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Morgan Stanley & Co. Incorporated
Chase Securities Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
FleetBoston Robertson Stephens Inc.
Thomas Weisel Partners LLC

By: /s/ Goldman, Sachs & Co.
    --------------------------------
          (Goldman, Sachs & Co.)

On behalf of each of the Purchasers

                                      -21-
<PAGE>

                                  SCHEDULE I

<TABLE>
<CAPTION>
                                                                            Principal
                                                                            Amount of
                                                                            Securities
                                                                              to be
                        Purchaser                                           Purchased
                        ---------                                           ---------
<S>                                                                <C>
Goldman, Sachs & Co.                                                    $  500,000,000.00
Merrill Lynch, Pierce, Fenner & Smith Incorporated                      $  200,000,000.00
Morgan Stanley & Co. Incorporated                                       $   70,000,000.00
Chase Securities Inc.                                                   $   70,000,000.00
Donaldson, Lufkin & Jenrette Securities Corporation                     $   70,000,000.00
FleetBoston Robertson Stephens Inc.                                     $   45,000,000.00
Thomas Weisel Partners LLC                                              $   45,000,000.00
                                                                        -----------------

Total                                                                   $1,000,000,000.00
                                                                        =================
</TABLE>

<TABLE>
<CAPTION>
                                                                          Principal
                                                                          Amount of
                                                                          Securities
                                                                            to be
                        Purchaser                                         Purchased
                        ---------                                         ---------
<S>                                                                <C>
Goldman, Sachs & Co.                                                (EURO) 100,000,000.00
Morgan Stanley & Co. Incorporated                                   (EURO)  40,000,000.00
Merrill Lynch, Pierce, Fenner & Smith Incorporated                  (EURO)  14,000,000.00
Chase Securities Inc.                                               (EURO)  14,000,000.00
Donaldson, Lufkin & Jenrette Securities Corporation                 (EURO)  14,000,000.00
FleetBoston Robertson Stephens Inc.                                 (EURO)   9,000,000.00
Thomas Weisel Partners LLC                                          (EURO)   9,000,000.00
                                                                    ---------------------
Total                                                               (EURO) 200,000,000.00
                                                                    =====================
</TABLE>

                                      -22-
<PAGE>

                                                                         ANNEX I

     (1)  The Securities have not been and will not be registered under the
Securities Act and may not be offered or sold within the United States or to, or
for the account or benefit of, U.S. persons except in accordance with Regulation
S under the Securities Act or pursuant to an exemption from the registration
requirements of the Securities Act.  Each Purchaser represents that it has
offered and sold the Securities, and will offer and sell the Securities (i) as
part of their distribution at any time and (ii) otherwise until 40 days after
the later of the commencement of the offering and the Time of Delivery, only in
accordance with Rule 903 of Regulation S or Rule 144A under the Securities Act.
Accordingly, each Purchaser agrees that neither it, its affiliates nor any
persons acting on its or their behalf has engaged or will engage in any directed
selling efforts with respect to the Securities, and it and they have complied
and will comply with the offering restrictions requirement of Regulation S.
Each Purchaser agrees that, at or prior to confirmation of sale of Securities
(other than a sale pursuant to Rule 144A), it will have sent to each
distributor, dealer or person receiving a selling concession, fee or other
remuneration that purchases Securities from it during the distribution
compliance period a confirmation or notice to substantially the following
effect:

     "The Securities covered hereby have not been registered under the U.S.
     Securities Act of 1933 (the "Securities Act") and may not be offered and
     sold within the United States or to, or for the account or benefit of, U.S.
     persons (i) as part of their distribution at any time or (ii) otherwise
     until 40 days after the later of the commencement of the offering and the
     closing date, except in either case in accordance with Regulation S (or
     Rule 144A if available) under the Securities Act.  Terms used above have
     the meaning given to them by Regulation S."

Terms used in this paragraph have the meanings given to them by Regulation S.

     Each Purchaser further agrees that it has not entered and will not enter
into any contractual arrangement with respect to the distribution or delivery of
the Securities, except with its affiliates or with the prior written consent of
the Company.

     (2)  Notwithstanding the foregoing, Securities may be offered, sold and
delivered by the Purchasers in the United States and to U.S. persons pursuant to
Section 3(a)(i) of this Agreement without delivery of the written statement
required by paragraph (1) above.

     (3)  Each Purchaser further represents and agrees that (i) it has not
offered or sold and prior to the date six months after the date of issue of the
Securities will not offer or sell any Securities to persons in the United
Kingdom except to persons whose ordinary activities involve them in acquiring,
holding, managing or disposing of investments (as principal or agent) for the
purposes of their businesses or otherwise in circumstances which have not
resulted and will not result in an offer to the public in the United Kingdom
within the meaning of the Public Offers of Securities Regulations 1995, (b) it
has complied, and will comply, with all applicable provisions of the Financial
Services Act of 1986 of Great
<PAGE>

Britain with respect to anything done by it in relation to the Securities in,
from or otherwise involving the United Kingdom, and (c) it has only issued or
passed on and will only issue or pass on in the United Kingdom any document
received by it in connection with the issuance of the Securities to a person who
is of a kind described in Article 11(3) of the Financial Services Act 1986
(Investment Advertisements) (Exemptions) Order 1996 of Great Britain or is a
person to whom the document may otherwise lawfully be issued or passed on.

     (4)  Each Purchaser agrees that it will not offer, sell or deliver any of
the Securities in any jurisdiction outside the United States except under
circumstances that will result in compliance with the applicable laws thereof,
and that it will take at its own expense whatever action is required to permit
its purchase and resale of the Securities in such jurisdictions. Each Purchaser
understands that no action has been taken to permit a public offering in any
jurisdiction outside the United States where action would be required for such
purpose. Each Purchaser agrees not to cause any advertisement of the Securities
to be published in any newspaper or periodical or posted in any public place and
not to issue any circular relating to the Securities, except in any such case
with Goldman, Sachs & Co.'s express written consent and then only at its own
risk and expense.

                                      -2-
<PAGE>

                                                                        ANNEX II

     Pursuant to Section 7(c) of the Purchase Agreement, the accountants shall
furnish letters to the Purchasers to the effect that:

          (i)   They are independent certified public accountants with respect
     to the Company and its subsidiaries within the meaning of Section 101 of
     the AICPA Code of Professional Conduct;

          (ii)  In our opinion, the consolidated financial statements and
     financial statement schedules audited by us and included in the Offering
     Circular comply as to form in all material respects with the applicable
     requirements of the Exchange Act and the related published rules and
     regulations;

          (iii) The unaudited selected financial information with respect to the
     consolidated results of operations and financial position of the Company
     for the four most recent fiscal years included in the Offering Circular
     agrees with the corresponding amounts (after restatements where applicable)
     in the audited consolidated financial statements for such four fiscal
     years;

          (iv)  On the basis of limited procedures not constituting an audit in
     accordance with generally accepted auditing standards, consisting of a
     reading of the unaudited financial statements and other information
     referred to below, a reading of the latest available interim financial
     statements of the Company and its subsidiaries, inspection of the minute
     books of the Company and its subsidiaries since the date of the latest
     audited financial statements included in the Offering Circular, inquiries
     of officials of the Company and its subsidiaries responsible for financial
     and accounting matters and such other inquiries and procedures as may be
     specified in such letter, nothing came to their attention that caused them
     to believe that:

                (A) the unaudited consolidated statements of income,
          consolidated balance sheets and consolidated statements of cash flows
          included in the Offering Circular are not in conformity with generally
          accepted accounting principles applied on the basis substantially
          consistent with the basis for the audited condensed consolidated
          statements of income, consolidated balance sheets and consolidated
          statements of cash flows included in the Offering Circular;

                (B) any other unaudited income statement data and balance sheet
          items included in the Offering Circular do not agree with the
          corresponding items in the unaudited consolidated financial statements
          from which such data and items were derived, and any such unaudited
          data and items were not determined on a basis substantially consistent
          with the basis for the
<PAGE>

          corresponding amounts in the audited consolidated financial statements
          included in the Offering Circular;

               (C)  the unaudited financial statements which were not included
          in the Offering Circular but from which were derived any unaudited
          condensed financial statements referred to in Clause (A) and any
          unaudited income statement data and balance sheet items included in
          the Offering Circular and referred to in Clause (B) were not
          determined on a basis substantially consistent with the basis for the
          audited consolidated financial statements included in the Offering
          Circular;

               (D)  any unaudited pro forma consolidated condensed financial
          statements included in the Offering Circular do not comply as to form
          in all material respects with the applicable accounting requirements
          or the pro forma adjustments have not been properly applied to the
          historical amounts in the compilation of those statements;

               (E)  as of a specified date not more than five days prior to the
          date of such letter, there have been any changes in the consolidated
          capital stock (other than issuances of capital stock upon exercise of
          options and stock appreciation rights, upon earn-outs of performance
          shares and upon conversions of convertible securities, in each case
          which were outstanding on the date of the latest financial statements
          included in the Offering Circular or any increase in the consolidated
          long-term debt of the Company and its subsidiaries, or any decreases
          in consolidated net current assets or stockholders' equity or other
          items specified by the Purchasers, or any increases in any items
          specified by the Purchasers, in each case as compared with amounts
          shown in the latest balance sheet included in the Offering Circular
          except in each case for changes, increases or decreases which the
          Offering Circular discloses have occurred or may occur or which are
          described in such letter; and

               (F)  for the period from the date of the latest financial
          statements included in the Offering Circular to the specified date
          referred to in Clause (E) there were any decreases in consolidated net
          revenues or operating profit or the total or per share amounts of
          consolidated net income or other items specified by the Purchasers, or
          any increases in any items specified by the Purchasers, in each case
          as compared with the comparable period of the preceding year and with
          any other period of corresponding length specified by the Purchasers,
          except in each case for decreases or increases which the Offering
          Circular discloses have occurred or may occur or which are described
          in such letter; and

          (v)  In addition to the examination referred to in their report(s)
     included in the Offering Circular and the limited procedures, inspection of
     minute books, inquiries and other procedures referred to in paragraphs
     (iii) and (iv) above, they

                                      -2-
<PAGE>

     have carried out certain specified procedures, not constituting an audit in
     accordance with generally accepted auditing standards, with respect to
     certain amounts, percentages and financial information specified by the
     Purchasers, which are derived from the general accounting records of the
     Company and its subsidiaries, which appear in the Offering Circular, and
     have compared certain of such amounts, percentages and financial
     information with the accounting records of the Company and its subsidiaries
     and have found them to be in agreement.

                                      -3-
<PAGE>

                                                                 June ____, 2000

Dear KPMG LLP:

     Goldman, Sachs & Co., as representative of the Purchasers of  Senior Notes
due to be issued by Exodus Communications, Inc. (the "Company"), will be
reviewing certain information relating to the Company that will be included
(incorporated by reference) in the Offering Circular.  This review process,
applied to the information relation to the issue, is (will be) substantially
consistent with the due diligence review process that we would perform if this
placement of securities were being registered pursuant to the Securities Act of
1933 (the "Act").  It is recognized however that what is "substantially
consistent" may vary from situation to situation and may not be the same as that
done in a registered offering of the same securities for the same issuer and
whether the procedures being, or to be, followed will be "substantially
consistent" will be determined by us on a case-by-case basis.  We are
knowledgeable with respect to the due diligence review process that would be
performed if this placement of securities were being registered pursuant to the
Act.  We hereby request that you deliver to us a "comfort" letter concerning the
financial statements of the issuer and certain statistical and other data
included in the offering document.  We will contact you to identify the
procedures we wish you to follow and the form we wish the comfort letter to
take.

                                      Very truly yours,

                                      ----------------------------------------
                                            (Goldman, Sachs & Co.)<PAGE>

                                                                   Exhibit 10.76

                  EXCHANGE AND REGISTRATION RIGHTS AGREEMENT

          EXCHANGE AND REGISTRATION RIGHTS AGREEMENT, dated as of July 6, 2000,
among Exodus Communications, Inc., a Delaware corporation (the "Company"),
Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan
Stanley & Co. Incorporated, Chase Securities Inc., Donaldson, Lufkin & Jenrette
Securities Corporation, FleetBoston Robertson Stephens Inc. and Thomas Weisel
Partners LLC (each an "Initial Purchaser" and, collectively, the "Initial
Purchasers") each of whom has agreed to purchase the Company's $1,000,000,000
principal amount of 11-5/8% Senior Notes due 2010 (the "Securities") pursuant to
the Purchase Agreement, dated June 28, 2000, by and among the Company and
Initial Purchasers (the "Purchase Agreement").

          The Company proposes to issue and sell and the Initial Purchasers
propose to purchase the Securities upon the terms set forth in the Purchase
Agreement.  As an inducement to the Initial Purchasers to enter into the
Purchase Agreement and in satisfaction of a condition to the obligations of the
Initial Purchasers thereunder, the Company agrees with the Initial Purchasers
for the benefit of holders (as defined herein) from time to time of the Transfer
Restricted Securities as follows:

     1.   Certain Definitions.

     For purposes of this Exchange and Registration Rights Agreement, the
following terms shall have the following respective meanings:

          "Act" shall mean the Securities Act of 1933, as amended.

          "Affiliate" shall have the meaning ascribed thereto by Rule 144 of the
     Act.

          "Business Days" shall mean each Monday, Tuesday, Wednesday, Thursday
     and Friday which is not a day on which banking institutions in the City of
     New York, New York are authorized or obligated by law or executive order to
     close.

          "Broker-Dealer" shall mean any broker or dealer registered with the
     Commission under the Exchange Act.

          "Closing Date" shall mean the date hereof.

          "Commission" shall mean the United States Securities and Exchange
     Commission, or any other federal agency at the time administering the
     Exchange Act or the Securities Act, whichever is the relevant statute for
     the particular purpose.
<PAGE>

          "Effective Time" shall mean (i) with regard to the Exchange
     Registration, the time and date as of which the Commission declares the
     Exchange Offer Registration Statement effective or as of which the Exchange
     Offer Registration Statement otherwise becomes effective and (ii) with
     regard to the Shelf Registration, the time and date as of which the
     Commission declares the Shelf Registration Statement effective or as of
     which the Shelf Registration Statement otherwise becomes effective.

          "Electing Holder" shall mean any holder of Transfer Restricted
     Securities that has returned a completed and signed Notice and
     Questionnaire to the Company in accordance with Section 3(d)(ii) or
     3(d)(iii) hereof.

          "Exchange Act" shall mean the Securities Exchange Act of 1934, or any
     successor thereto, as the same shall be amended from time to time.

          "Exchange Offer" shall have the meaning assigned thereto in Section
     2(a) hereof.

          "Exchange Offer Registration Statement" shall have the meaning
     assigned thereto in Section 2(a) hereof.

          "Exchange Registration" shall have the meaning assigned thereto in
     Section 3(c) hereof.

          "Exchange Securities" shall have the meaning assigned thereto in
     Section 2(a) hereof.

          "Holder" shall mean with respect to the Transfer Restricted
     Securities, each of the Initial Purchasers and other persons who acquire
     Transfer Restricted Securities from time to time (including any successors
     or assigns), in each case for so long as such person owns any Transfer
     Restricted Securities.

          "Indenture" shall mean the Indenture, dated as of July 6, 2000,
     between the Company and Chase Manhattan Bank and Trust Company, National
     Association, as Trustee, as the same shall be amended from time to time.

          "Liquidated Damages" shall have the meaning assigned thereto in
     Section 2(c) hereof.

          "Notice and Questionnaire" means a Notice of Registration Statement
     and Selling Securityholder Questionnaire substantially in the form of
     Exhibit A hereto.

          "Person" shall mean a corporation, association, partnership,
     organization, business, individual, government or political subdivision
     thereof or governmental agency.

          "Press Release" shall have the meaning given thereto in the Indenture.

          "Prospectus" shall have the meaning ascribed to it in Section 2(a)(10)
     of the Act.

                                      -2-
<PAGE>

          "Registration Default" shall have the meaning assigned thereto in
     Section 2(c) hereof.

          "Registration Expenses" shall have the meaning assigned thereto in
     Section 4 hereof.

          "Resale Period" shall have the meaning assigned thereto in Section
     2(a) hereof.

          "Restricted Holder" shall mean (i) a holder that is an affiliate of
     the Company within the meaning of Rule 405, (ii) a holder who acquires
     Exchange Securities outside the ordinary course of such holder's business,
     (iii) a holder who has arrangements or understandings with any person to
     participate in the Exchange Offer for the purpose of a distribution within
     the meaning of the Act of Exchange Securities and (iv) a holder that is a
     Broker-Dealer, but only with respect to Exchange Securities received by
     such Broker-Dealer pursuant to an Exchange Offer in exchange for Transfer
     Restricted Securities acquired by the Broker-Dealer directly from the
     Company.

          "Rule 144," "Rule 405" and "Rule 415" shall mean, in each case, such
     rule promulgated under the Act (or any successor provision), as the same
     shall be amended from time to time.

          "Securities" shall mean, collectively, the 11-5/8% Senior Notes due
     2010 of the Company to be issued and sold to the Initial Purchasers, and
     securities issued in exchange therefor or in lieu thereof pursuant to the
     Indenture.

          "Shelf Registration" shall have the meaning assigned thereto in
     Section 2(b) hereof.

          "Shelf Registration Statement" shall have the meaning assigned thereto
     in Section 2(b) hereof.

          "Transfer Restricted Securities" shall mean each Security until the
     earliest of (i) the date on which such Security has been exchanged by a
     person other than a Broker-Dealer for an Exchange Security in an Exchange
     Offer, (ii) following the exchange by a Broker-Dealer in the Exchange Offer
     of a Security for an Exchange Security, the date on which such Exchange
     Security is sold to a purchaser who receives from such Broker-Dealer on or
     prior to the date of such sale a copy of the Prospectus used in connection
     with such Exchange Offer, (iii) the date on which such Security has been
     effectively registered under the Act and disposed of in accordance with a
     Shelf Registration Statement or (iv) the date on which such Security is
     distributed to the public pursuant to Rule 144 under the Act.

          "Trust Indenture Act" shall mean the Trust Indenture Act of 1939, or
     any successor thereto, and the rules, regulations and forms promulgated
     thereunder, all as the same shall be amended from time to time.

     Unless the context otherwise requires, any reference herein to a "Section"
or "Clause" refers to a Section or clause, as the case may be, of this Exchange
and Registration Rights Agreement, and the words "herein," "hereof" and
"hereunder" and other words of similar import refer to this

                                      -3-
<PAGE>

Exchange and Registration Rights Agreement as a whole and not to any particular
Section or other subdivision.

     2.   Registration Under the Securities Act.

          (a) Except as set forth in Section 2(b) below, the Company agrees to
file with the Commission, as soon as practicable after the Closing Date, but no
later than 60 days after the Closing Date, a registration statement relating to
an offer to exchange (such registration statement, the "Exchange Offer
Registration Statement", and such offer, the "Exchange Offer") any and all of
the Securities for a like aggregate principal amount of debt securities issued
by the Company, which debt securities are substantially identical to the
Securities (and are entitled to the benefits of a trust indenture which is
substantially identical to the Indenture or is the Indenture and which has been
qualified under the Trust Indenture Act), except that they have been registered
pursuant to an effective registration statement under the Act and do not contain
provisions for liquidated damages contemplated in Section 2(c) below (such new
debt securities hereinafter called "Exchange Securities").  The Company agrees
to use its best efforts to cause the Exchange Offer Registration Statement to
become effective under the Act as soon as practicable, but no later than 150
days after the Closing Date.  The Exchange Offer will be registered under the
Act on the appropriate form and will comply with all applicable tender offer
rules and regulations under the Exchange Act.  Unless the Exchange Offer would
not be permitted by applicable law or Commission policy, the Company further
agrees to use its best efforts (i) to complete the Exchange Offer promptly, but
no later than 30 Business Days after the Exchange Offer Registration Statement
becomes effective or is declared effective by the Commission, (ii) to hold the
Exchange Offer open for a period of not less than the minimum period required
under applicable federal and state securities laws, provided however, that in no
event shall such period be less than 20 Business Days after the mailing of
notice to holders of such Exchange Offer Registration Statement being declared
effective, and (iii) to issue Exchange Securities for all Transfer Restricted
Securities that have been properly tendered and not withdrawn on or prior to the
expiration of the Exchange Offer.  The Exchange Offer will be deemed to have
been "completed" only if the debt securities received by holders other than
Restricted Holders in the Exchange Offer for Transfer Restricted Securities are,
upon receipt, transferable by each such holder without need for further
compliance with Section 5 of the Act and the Exchange Act (except for the
requirement to deliver a Prospectus included in the Exchange Offer Registration
Statement applicable to resales by Broker-Dealers of Exchange Securities
received by such Broker-Dealer pursuant to an Exchange Offer in exchange for
Transfer Restricted Securities other than those acquired by the Broker-Dealer
directly from the Company), and without material restrictions under the blue sky
or securities laws of a substantial majority of the States of the United States
of America.  The Exchange Offer shall be deemed to have been completed upon the
earlier to occur of (i) the Company having exchanged the Exchange Securities for
all outstanding Transfer Restricted Securities pursuant to the Exchange Offer
and (ii) the Company having exchanged, pursuant to the Exchange Offer, Exchange
Securities for all Transfer Restricted Securities that have been properly
tendered and not withdrawn before the expiration of the Exchange Offer.  If the
Company is notified prior to the completion of the Exchange Offer by a Broker-
Dealer that is a holder of Transfer Restricted Securities (other than Transfer
Restricted Securities received by the Broker-Dealer directly from the Company),
then the Company agrees (x) to include in the Exchange Offer

                                      -4-
<PAGE>

Registration Statement a Prospectus for use in connection with any resales of
Exchange Securities by a Broker-Dealer, other than resales of Exchange
Securities received by a Broker-Dealer pursuant to an Exchange Offer in exchange
for Transfer Restricted Securities acquired by the Broker-Dealer directly from
the Company, and (y) to keep such Exchange Offer Registration Statement
effective for a period (the "Resale Period") beginning when Exchange Securities
are first issued in the Exchange Offer and ending upon the earlier of the
expiration of the 180th day after the Exchange Offer has been completed or such
time as such Broker-Dealers no longer own any Transfer Restricted Securities.
With respect to such Exchange Offer Registration Statement, each Broker-Dealer
that holds Exchange Securities received in an Exchange Offer in exchange for
Transfer Restricted Securities not acquired by it directly from the Company
shall have the benefit of the rights of indemnification and contribution set
forth in Sections 6(a), (c), (d) and (e) hereof.

          (b)  If (i) the Company is not permitted to consummate the Exchange
Offer because the Exchange Offer is not permitted by applicable law or
Commission policy or (ii) any holder of Transfer Restricted Securities notifies
the Company prior to the 20th day following completion of the Exchange Offer
that (A) it is prohibited by law or Commission policy from participating in the
Exchange Offer or (B) that it may not resell in compliance with the Act or
Commission policy the Exchange Securities acquired by it in the Exchange Offer
to the public without delivering a Prospectus and the Prospectus contained in
the Exchange Offer Registration Statement is not appropriate or available for
such resales or (C) that it is a Broker-Dealer and owns Securities acquired
directly from the Company or an Affiliate, then in lieu of conducting the
Exchange Offer for such Transfer Restricted Securities contemplated by Section
2(a) the Company shall use its best efforts to file with the Commission as soon
as practicable, but no later than 45 days after the date on which the Company
determines that it is not permitted to file the Exchange Offer Registration
Statement pursuant to clause (i) above or 45 days after the date on which the
Company receives the notice specified in clause (ii) above (but in either case,
in no event less than 60 days after the Closing Date), a "shelf" registration
statement providing for the registration of, and the sale on a continuous or
delayed basis by the holders of, all of the Transfer Restricted Securities,
pursuant to Rule 415 or any similar rule that may be adopted by the Commission,
which may be an amendment to the Exchange Offer Registration Statement (such
filing, the "Shelf Registration" and such registration statement, the "Shelf
Registration Statement").  The Company agrees to use its best efforts (i) to
cause the Shelf Registration Statement to become or be declared effective by the
Commission on or prior to 90 days after such obligation arises (but in no event
less than 150 days after the Closing Date) and to keep such Shelf Registration
Statement continuously effective in order to permit the Prospectus forming a
part thereof to be usable by holders for resales of Transfer Restricted
Securities for a period ending on the earlier of the second anniversary of the
Effective Time or such time as there are no longer any Transfer Restricted
Securities outstanding, provided, however, that no holder shall be entitled to
be named as a selling securityholder in the Shelf Registration Statement or to
use the Prospectus forming a part thereof for resales of Transfer Restricted
Securities unless such holder is an Electing Holder, and (ii) after the
Effective Time of the Shelf Registration Statement, promptly upon the request of
any holder of Transfer Restricted Securities that is not then an Electing
Holder, to take any action reasonably necessary to enable such holder to use the
Prospectus forming a part thereof for resales of Transfer Restricted Securities,
including, without limitation, any action necessary to identify such holder as a
selling securityholder

                                      -5-
<PAGE>

in the Shelf Registration Statement, provided, however, that nothing in this
Clause (ii) shall relieve any such holder of the obligation to return a
completed and signed Notice and Questionnaire to the Company in accordance with
Section 3(d)(iii) hereof. No holder of Securities shall be entitled to
Liquidated Damages pursuant to 2(c) hereof unless and until such holder shall
have provided all such information. The Company further agrees to supplement or
make amendments to the Shelf Registration Statement, as and when required by the
rules, regulations or instructions applicable to the registration form used by
the Company for such Shelf Registration Statement or by the Act or rules and
regulations thereunder for shelf registration, and the Company agrees to furnish
to each Electing Holder copies of any such supplement or amendment prior to its
being used or promptly following its filing with the Commission.

          (c) In the event that (i) the Company has not filed the Exchange Offer
Registration Statement or Shelf Registration Statement on or before the date on
which such registration statement is required to be filed pursuant to Section
2(a) or 2(b), respectively, or (ii) such Exchange Offer Registration Statement
or Shelf Registration Statement has not become effective or been declared
effective by the Commission on or before the date on which such registration
statement is required to become or be declared effective pursuant to Section
2(a) or 2(b), respectively, or (iii) the Exchange Offer has not been completed
within 30 Business Days after the initial effective date of the Exchange Offer
Registration Statement relating to the Exchange Offer (if the Exchange Offer is
then required to be made) or (iv) any Exchange Offer Registration Statement or
Shelf Registration Statement required by Section 2(a) or 2(b) hereof is filed
and declared effective, but shall thereafter cease to be effective or usable in
connection with resales of Transfer Restricted Securities during the periods
specified in Section 2(a) or 2(b), respectively, (except as specifically
permitted herein, including pursuant to Sections 3(c)(ii) and (iv) and 3(d)(iv)
and 3(e)) without being succeeded immediately by an additional registration
statement filed and declared effective (each such event referred to in clauses
(i) through (iv), a "Registration Default" and each period during which a
Registration Default has occurred and is continuing, a "Registration Default
Period"), then, the Company will pay liquidated damages to each holder of
Transfer Restricted Securities affected thereby (such liquidated damages, the
"Liquidated Damages"), with respect to the first 90-day period immediately
following the occurrence of the first Registration Default in an amount equal to
$0.05 per week such Registration Default continues per $1,000 principal amount
of Transfer Restricted Securities held by such holder.  The amount of the
Liquidated Damages will increase by an additional $0.05 per week such
Registration Default continues per $1,000 principal amount of Transfer
Restricted Securities with respect to each subsequent 90-day period until all
Registration Defaults have been cured, up to a maximum amount of Liquidated
Damages for all Registration Defaults of $0.25 per week per $1,000 principal
amount of Transfer Restricted Securities.  Notwithstanding the foregoing, the
Company shall in no event be required to pay Liquidated Damages for more than
one Registration Default at any time.  All accrued Liquidated Damages will be
paid by the Company on each Interest Payment Date (as defined in the Indenture)
to each holder of any Transfer Restricted Securities by wire transfer of
immediately available funds or by federal funds check and to holders of Transfer
Restricted Securities by wire transfer to the accounts specified by them or by
mailing checks to their registered addresses if no such accounts have been
specified.  Following the cure of all Registration Defaults, the accrual of
Liquidated

                                      -6-
<PAGE>

Damages will cease. No other damages shall be available to holders of Transfer
Restricted Securities for any Registration Default.

          (d)  Any reference herein to a registration statement as of any time
shall be deemed to include any document incorporated, or deemed to be
incorporated, therein by reference as of such time and any reference herein to
any post-effective amendment to a registration statement as of any time shall be
deemed to include any document incorporated, or deemed to be incorporated,
therein by reference as of such time.

     3.   Registration Procedures.

          If the Company files a registration statement pursuant to Section 2(a)
or Section 2(b), the following provisions shall apply:

          (a)  At or before the Effective Time of the Exchange Offer or the
Shelf Registration, as the case may be, the Company shall qualify the Indenture
under the Trust Indenture Act of 1939.

          (b)  In the event that such qualification would require the
appointment of a new trustee under the Indenture, the Company shall appoint a
new trustee thereunder pursuant to the applicable provisions of the Indenture.

          (c)  In connection with the Company's obligations with respect to the
registration of Exchange Securities as contemplated by Section 2(a) (the
"Exchange Registration"), if applicable, the Company shall, as soon as
practicable (or as otherwise specified):

               (i)  prepare and file with the Commission, as soon as practicable
but no later than 60 days after the Closing Date, an Exchange Offer Registration
Statement on any form which may be utilized by the Company and which shall
permit the Exchange Offer and, if applicable, resales of Exchange Securities by
Broker-Dealers during the Resale Period to be effected as contemplated by
Section 2(a), and use its best efforts to cause such Exchange Offer Registration
Statement to become effective as soon as practicable thereafter, but no later
than 150 days after the Closing Date;

               (ii) as soon as practicable prepare and file with the Commission
such amendments and supplements to such Exchange Offer Registration Statement
and the Prospectus included therein as may be necessary to effect and maintain
the effectiveness of such Exchange Offer Registration Statement for the periods
and purposes contemplated in Section 2(a) hereof and as may be required by the
applicable rules and regulations of the Commission and the instructions
applicable to the form of such Exchange Offer Registration Statement, and
promptly provide each Broker-Dealer holding Exchange Securities with such number
of copies of the Prospectus included therein (as then amended or supplemented),
in conformity in all material respects with the requirements of the Act and the
Trust Indenture Act and the rules and regulations of the Commission thereunder,
as such Broker-Dealer reasonably may request prior to the expiration of the
Resale Period, for use in connection with resales of Exchange Securities;
provided that upon the occurrence

                                      -7-
<PAGE>

of any event that would cause any such Exchange Offer Registration Statement or
the Prospectus contained therein (A) to contain a material misstatement or
omission or (B) not to be effective and usable for resale of Transfer Restricted
Securities, either of which occurs during the period that the Company is
required to maintain an effective and usable Exchange Offer Registration
Statement and Prospectus pursuant to this Agreement, the Company shall file
promptly an appropriate amendment or supplement to such Registration Statement
or Prospectus, (1) in the case of clause (A), correcting any such misstatement
or omission, and (2) in the case of clauses (A) and (B) use its best efforts to
cause any amendment to be declared effective and such Exchange Offer
Registration Statement and the Prospectus to become usable for their intended
purpose(s) as soon as practicable thereafter; provided further notwithstanding
anything to the contrary set forth in this Agreement, during the 180 day period
following completion of the Exchange Offer, the Company's obligations to use its
best efforts to keep the Exchange-Offer Registration Statement continuously
effective, supplemented and amended shall be suspended in the event continued
effectiveness of the Exchange-Offer Registration Statement would, with the
advice of counsel to the Company, make it advisable for the Company to disclose
a material financing, acquisition or other corporate transaction, and the Board
of Directors shall have determined in good faith that such disclosure is not in
the best interests of the Company, but in no event will any such suspension,
individually or in the aggregate, exceed sixty (60) days (such suspensions being
referred to herein as an "Exchange Suspension Period");

          (iii)  promptly notify in writing each Broker-Dealer that has
requested or received from the Company copies of the Prospectus included in such
Exchange Offer Registration Statement and issue a Press Release indicating the
same, (A) when such Exchange Offer Registration Statement or the Prospectus
included therein or any Prospectus amendment or supplement or post-effective
amendment has been filed, and, with respect to such Exchange Offer Registration
Statement or any post-effective amendment, when the same has become effective,
(B) of the issuance by the Commission of any stop order suspending the
effectiveness of such Exchange Offer Registration Statement or the initiation or
threatening of any proceedings for that purpose, (C) of the receipt by the
Company of any notification with respect to the suspension of the qualification
of the Exchange Securities for sale in any jurisdiction or the initiation or
threatening of any proceeding for such purpose, or (D) at any time during the
Resale Period when a Prospectus is required to be delivered under the Act, that
such Exchange Offer Registration Statement, Prospectus, Prospectus amendment or
supplement or post-effective amendment does not conform in all material respects
to the applicable requirements of the Act and the Trust Indenture Act and the
rules and regulations of the Commission thereunder or contains an untrue
statement of a material fact or omits to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in
light of the circumstances then existing. Each holder of Transfer Restricted
Securities agrees that upon receipt of any notice from the Company pursuant to
this Section 3(c)(iii)(D), such holder shall forthwith discontinue the
disposition of Transfer Restricted Securities pursuant to the Exchange Offer
Registration Statement applicable to such Transfer Restricted Securities until
such Broker-Dealer shall have received copies of such amended or supplemented
Prospectus, and if so directed by the Company, such Broker-Dealer shall deliver
to the Company (at the Company's expense) all copies, other than permanent file
copies, then in such Broker-Dealer's possession of the Prospectus covering such
Transfer Restricted Securities at the time of receipt of such notice;

                                      -8-
<PAGE>

          (iv)   in the event that the Company would be required, pursuant to
Section 3(c)(iii)(D) above, to notify any Broker-Dealers holding Exchange
Securities, without unreasonable delay, subject to Section 3(c)(ii), prepare and
furnish to each such holder a reasonable number of copies of a Prospectus
supplemented or amended so that, as thereafter delivered to purchasers of such
Exchange Securities during the Resale Period, such Prospectus shall conform in
all material respects to the applicable requirements of the Act and the Trust
Indenture Act and the rules and regulations of the Commission thereunder and
shall not contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances then existing;

          (v)    subject to the provisos in (ii) above, use its best efforts to
obtain the withdrawal of any order suspending the effectiveness of such Exchange
Offer Registration Statement or any post-effective amendment thereto at the
earliest practicable date;

          (vi)   use its best efforts to (A) register or qualify the Exchange
Securities under the securities laws or blue sky laws of such jurisdictions as
are contemplated by Section 2(a) no later than the commencement of the Exchange
Offer, (B) if applicable, keep such registrations or qualifications in effect
and comply with such laws so as to permit the continuance of offers, sales and
dealings therein in such jurisdictions until the expiration of the Resale Period
and (C) take any and all other actions as may be reasonably necessary or
advisable to enable each Broker-Dealer holding Exchange Securities to consummate
the disposition thereof in such jurisdictions; provided, however, that the
Company shall not be required for any such purpose to (1) qualify as a foreign
corporation in any jurisdiction wherein it would not otherwise be required to
qualify but for the requirements of this Section 3(c)(vi), (2) consent to
general service of process in any such jurisdiction or (3) make any changes to
its certificate of incorporation or by-laws or any agreement between it and its
stockholders;

          (vii)  use its best efforts to obtain the consent or approval of each
governmental agency or authority, whether federal, state or local, which may be
required to effect the Exchange Registration, the Exchange Offer and the
offering and sale of Exchange Securities by Broker-Dealers during the Resale
Period;

          (viii) provide a CUSIP number for all Exchange Securities, not later
than the applicable Effective Time;

          (ix)   comply with all applicable rules and regulations of the
Commission, and make generally available to its securityholders as soon as
practicable but no later than eighteen months after the effective date of such
Exchange Offer Registration Statement, an earning statement of the Company and
its subsidiaries complying with Section 11(a) of the Act (including, at the
option of the Company, Rule 158 thereunder).

      (d) In connection with the Company's obligations with respect to the
registration of the Transfer Restricted Securities as contemplated by Section
2(b) pursuant to the Shelf Registration, if applicable, the Company shall, as
soon as practicable (or as otherwise specified):

                                      -9-
<PAGE>

          (i)   prepare and file with the Commission, as soon as practicable but
in any case within the time periods specified in Section 2(b), a Shelf
Registration Statement on any form which may be utilized by the Company and
which shall register all of the Transfer Restricted Securities for resale by the
holders thereof in accordance with such method or methods of disposition as may
be specified by such of the holders as, from time to time, may be Electing
Holders and use its best efforts to cause such Shelf Registration Statement to
become effective as soon as practicable but in any case within the time periods
specified in Section 2(b);

          (ii)  not less than 30 calendar days prior to the Effective Time of
the Shelf Registration Statement, mail the Notice and Questionnaire, in the form
of Exhibit A hereto, to the holders of Transfer Restricted Securities; no holder
shall be entitled to be named as a selling securityholder in the Shelf
Registration Statement as of the Effective Time, and no holder shall be entitled
to use the Prospectus forming a part thereof for resales of Transfer Restricted
Securities at any time, unless such holder has returned a completed and signed
Notice and Questionnaire to the Company by the deadline for response set forth
therein; provided, however, holders of Transfer Restricted Securities shall have
at least 28 calendar days from the date on which the Notice and Questionnaire is
first mailed to such holders to return a completed and signed Notice and
Questionnaire to the Company;

          (iii) after the Effective Time of the Shelf Registration Statement,
upon the request of any holder of Transfer Restricted Securities that is not
then an Electing Holder, promptly send a Notice and Questionnaire to such
holder; provided that the Company shall not be required to take any action to
name such holder as a selling securityholder in the Shelf Registration Statement
or to enable such holder to use the Prospectus forming a part thereof for
resales of Transfer Restricted Securities until such holder has returned a
completed and signed Notice and Questionnaire to the Company;

          (iv)  as soon as practicable prepare and file with the Commission such
amendments and supplements to such Shelf Registration Statement and the
Prospectus included therein, and take any other action, as may be necessary to
effect and maintain the effectiveness of such Shelf Registration Statement for
the period specified in Section 2(b) hereof and as may be required by the
applicable rules and regulations of the Commission and the instructions
applicable to the form of such Shelf Registration Statement, and furnish to the
Electing Holders copies of any such supplement or amendment simultaneously with
or prior to its being used or filed with the Commission; provided that upon the
occurrence of any event that would cause any such Shelf Registration Statement
or the Prospectus contained therein (A) to contain a material misstatement or
omission or (B) not to be effective and usable for resale of Transfer Restricted
Securities, either of which occurs during the period that the Company is
required to maintain an effective and usable Shelf Registration Statement and
Prospectus pursuant to this Agreement, the Company shall file promptly an
appropriate amendment or supplement to such Registration Statement or
Prospectus, (1) in the case of clause (A), correcting any such misstatement or
omission, and (2) in the case of clauses (A) and (B) use its best efforts to
cause any amendment to be declared effective and such Shelf Registration
Statement and the related Prospectus to become usable for their intended
purpose(s) as soon as practicable thereafter; provided further notwithstanding
anything to the

                                      -10-
<PAGE>

contrary set forth in this Agreement, the Company's obligations to use its best
efforts to keep the Shelf Registration Statement continuously effective,
supplemented and amended shall be suspended in the event continued effectiveness
of the Shelf Registration Statement would, with the advice of counsel to the
Company, make it advisable for the Company to disclose a material financing,
acquisition or other corporate transaction, and the Board of Directors shall
have determined in good faith that such disclosure is not in the best interests
of the Company, but in no event will any such suspension, individually or in the
aggregate, exceed ninety (90) days in any calendar year (such suspensions being
referred to herein as a "Shelf Suspension Period");

          (v)   comply with the provisions of the Act with respect to the
disposition of all of the Transfer Restricted Securities covered by such Shelf
Registration Statement in accordance with the intended methods of disposition by
the Electing Holders provided for in such Shelf Registration Statement;

          (vi)  provide (A) the Electing Holders, (B) the underwriters (which
term, for purposes of this Exchange and Registration Rights Agreement, shall
include a person deemed to be an underwriter within the meaning of Section 2(11)
of the Act), if any, thereof, (C) any sales or placement agent therefor, (D)
counsel for any such underwriters or agents and (E) not more than one counsel
for all the Electing Holders the opportunity to participate in the preparation
of such Shelf Registration Statement, each Prospectus included therein or filed
with the Commission and each amendment or supplement thereto;

          (vii) for a reasonable period prior to the filing of such Shelf
Registration Statement, and throughout the period specified in Section 2(b),
make available at reasonable times at the Company's principal place of business
or such other reasonable place for inspection by the persons referred to in
Section 3(d)(vi) who shall certify to the Company that they have a current
intention to sell the Transfer Restricted Securities pursuant to the Shelf
Registration such financial and other information and books and records of the
Company, and cause the officers, employees, counsel and independent certified
public accountants of the Company to respond to such inquiries, as shall be
reasonably necessary, in the judgment of the respective counsel referred to in
such Section, to conduct a reasonable investigation within the meaning of
Section 11 of the Act; provided, however, that each such party shall be required
to maintain in confidence and not to disclose to any other person any
information or records reasonably designated by the Company as being
confidential, until such time as (A) such information becomes a matter of public
record (whether by virtue of its inclusion in such registration statement or
otherwise), or (B) such person shall be required so to disclose such information
pursuant to a subpoena or order of any court or other governmental agency or
body having jurisdiction over the matter (subject to the requirements of such
order, and only after such person shall have given the Company prompt prior
written notice of such requirement), or (C) after the Effective Time and after
having requested, in writing, that the Company include such information in such
Shelf Registration Statement or an amendment or supplement thereto, and such
request has not been accepted by the Company within 15 days of such request,
such information, in the reasonable judgment of such party pursuant to advice of
counsel, is required to be set forth in such Shelf Registration Statement or the
Prospectus included therein or in an amendment to such Shelf Registration
Statement or an amendment or supplement to such

                                      -11-
<PAGE>

Prospectus in order that such Shelf Registration Statement, Prospectus,
amendment or supplement, as the case may be, complies with applicable
requirements of the federal securities laws and the rules and regulations of the
Commission and does not contain an untrue statement of a material fact or omit
to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading in light of the circumstances then
existing;

          (viii) promptly notify in writing each of the Electing Holders, any
sales or placement agent therefor and any underwriter thereof (which
notification may be made through any managing underwriter that is a
representative of such underwriter for such purpose), (A) when such Shelf
Registration Statement or the Prospectus included therein or any Prospectus
amendment or supplement or post-effective amendment has been filed, and, with
respect to such Shelf Registration Statement or any post-effective amendment,
when the same has become effective, (B) of the issuance by the Commission of any
stop order suspending the effectiveness of such Shelf Registration Statement or
the initiation or threatening of any proceedings for that purpose, (C) of the
receipt by the Company of any notification with respect to the suspension of the
qualification of the Transfer Restricted Securities for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purpose, or (D) (I)
if at any time when a Prospectus is required to be delivered under the Act, such
Shelf Registration Statement, Prospectus, Prospectus amendment or supplement or
post-effective amendment does not conform in all material respects to the
applicable requirements of the Act and the Trust Indenture Act and the rules and
regulations of the Commission thereunder or contains an untrue statement of a
material fact or omits to state any material fact required to be stated therein
or necessary to make the statements therein not misleading in light of the
circumstances then existing; or (II) the occurrence of a Shelf Suspension
Period;

          (ix)  subject to the provisos in (iv) above, use its best efforts to
obtain the withdrawal of any order suspending the effectiveness of such
registration statement or any post-effective amendment thereto at the earliest
practicable date;

          (x)   if requested by any managing underwriter or underwriters, any
placement or sales agent or any Electing Holder, promptly incorporate in a
Prospectus supplement or post-effective amendment such information as is
required by the applicable rules and regulations of the Commission and as such
managing underwriter or underwriters, such agent or such Electing Holder
specifies should be included therein relating to the terms of the sale of such
Transfer Restricted Securities, including information with respect to the
principal amount of Transfer Restricted Securities being sold by such Electing
Holder or agent or to any underwriters, the name and description of such
Electing Holder, agent or underwriter, the offering price of such Transfer
Restricted Securities and any discount, commission or other compensation payable
in respect thereof, the purchase price being paid therefor by such underwriters
and with respect to any other terms of the offering of the Transfer Restricted
Securities to be sold by such Electing Holder or agent or to such underwriters;
and make all required filings of such Prospectus supplement or post-effective
amendment promptly after notification of the matters to be incorporated in such
Prospectus supplement or post-effective amendment;

                                      -12-
<PAGE>

          (xi)   furnish to each Electing Holder, each placement or sales agent,
if any, therefor, each underwriter, if any, thereof and the respective counsel
referred to in Section 3(d)(vi) an executed copy (or, in the case of an Electing
Holder, a conformed copy) of such Shelf Registration Statement, each such
amendment and supplement thereto (in each case including all exhibits thereto
(in the case of an Electing Holder of Transfer Restricted Securities, upon
request) and documents incorporated by reference therein) and such number of
copies of such Shelf Registration Statement (excluding exhibits thereto and
documents incorporated by reference therein unless specifically so requested by
such Electing Holder, agent or underwriter, as the case may be) and of the
Prospectus included in such Shelf Registration Statement (including each
preliminary Prospectus and any summary Prospectus), in conformity in all
material respects with the applicable requirements of the Act and the Trust
Indenture Act and the rules and regulations of the Commission thereunder, and
such other documents, as such Electing Holder, agent, if any, and underwriter,
if any, may reasonably request in order to facilitate the offering and
disposition of the Transfer Restricted Securities owned by such Electing Holder,
offered or sold by such agent or underwritten by such underwriter and to permit
such Electing Holder, agent and underwriter to satisfy the Prospectus delivery
requirements of the Act; and the Company hereby consents, unless it has
otherwise notified the Electing Holder under Section 3(d)(iv) or (viii) hereof,
to the use of such Prospectus (including such preliminary and summary
Prospectus) and any amendment or supplement thereto by each such Electing Holder
and by any such agent and underwriter, in each case in the form most recently
provided to such person by the Company, in connection with the offering and sale
of the Transfer Restricted Securities covered by the Prospectus (including such
preliminary and summary Prospectus) or any supplement or amendment thereto;

          (xii)  use its best efforts to (A) register or qualify the Transfer
Restricted Securities to be included in such Shelf Registration Statement under
such securities laws or blue sky laws of such jurisdictions as any Electing
Holder and each placement or sales agent, if any, therefor and underwriter, if
any, thereof shall reasonably request, (B) keep such registrations or
qualifications in effect and comply with such laws so as to permit the
continuance of offers, sales and dealings therein in such jurisdictions during
the period the Shelf Registration is required to remain effective under Section
2(b) above and for so long as may be necessary to enable any such Electing
Holder, agent or underwriter to complete its distribution of Securities pursuant
to such Shelf Registration Statement and (C) take any and all other actions as
may be reasonably necessary or advisable to enable each such Electing Holder,
agent, if any, and underwriter, if any, to consummate the disposition in such
jurisdictions of such Transfer Restricted Securities; provided, however, that
the Company shall not be required for any such purpose to (1) qualify as a
foreign corporation in any jurisdiction wherein it would not otherwise be
required to qualify but for the requirements of this Section 3(d)(xii), (2)
consent to general service of process in any such jurisdiction or (3) make any
changes to its certificate of incorporation or by-laws or any agreement between
it and its stockholders;

          (xiii) use its best efforts to obtain the consent or approval of each
governmental agency or authority, whether federal, state or local, which may be
required to effect the Shelf Registration or the offering or sale in connection
therewith or to enable the selling holder or holders to offer, or to consummate
the disposition of, their Transfer Restricted Securities;

                                      -13-
<PAGE>

          (xiv)  cooperate with the Electing Holders and the managing
underwriters, if any, to facilitate the timely preparation and delivery of
certificates representing Transfer Restricted Securities to be sold, which
certificates shall be printed, lithographed or engraved, or produced by any
combination of such methods, and which shall not bear any restrictive legends;
and, in the case of an underwritten offering, enable such Transfer Restricted
Securities to be in such denominations and registered in such names as the
managing underwriters may request at least two business days prior to any sale
of the Transfer Restricted Securities;

          (xv)   provide a CUSIP number for all Transfer Restricted Securities,
not later than the applicable Effective Time;

          (xvi)  enter into one or more underwriting agreements, engagement
letters, agency agreements, "best efforts" underwriting agreements or similar
agreements, as appropriate, including customary provisions relating to
indemnification and contribution, and take such other actions in connection
therewith as any Electing Holders aggregating at least 20% in aggregate
principal amount of the Transfer Restricted Securities at the time outstanding
shall reasonably request in order to expedite or facilitate the disposition of
such Transfer Restricted Securities;

          (xvii) whether or not an agreement of the type referred to in Section
3(d)(xvi) hereof is entered into and whether or not any portion of the offering
contemplated by the Shelf Registration is an underwritten offering or is made
through a placement or sales agent or any other entity, (A) make such
representations and warranties to the Electing Holders and the placement or
sales agent, if any, therefor and the underwriters, if any, thereof in form,
substance and scope as are customarily made in connection with an offering of
debt securities pursuant to any appropriate agreement or to a registration
statement filed on the form applicable to the Shelf Registration; (B) obtain an
opinion of counsel to the Company in customary form and covering such matters,
of the type customarily covered by such an opinion, as the managing
underwriters, if any, or as any Electing Holders of at least 20% in aggregate
principal amount of the Transfer Restricted Securities at the time outstanding
may reasonably request, addressed to such Electing Holder or Electing Holders
and the placement or sales agent, if any, therefor and the underwriters, if any,
thereof and dated the effective date of such Shelf Registration Statement (and
if such Shelf Registration Statement contemplates an underwritten offering of a
part or all of the Transfer Restricted Securities, dated the date of the closing
under the underwriting agreement relating thereto) (it being agreed that the
matters to be covered by such opinion shall include the due incorporation and
good standing of the Company and its subsidiaries; the qualification of the
Company and its subsidiaries to transact business as foreign corporations; the
due authorization, execution and delivery by the Company of the relevant
agreement of the type referred to in Section 3(d)(xvi) hereof; the due
authorization, execution, authentication and issuance by the Company, and the
validity and enforceability, of the Securities; the absence of knowledge of such
counsel of material legal or governmental proceedings involving the Company; the
absence of governmental approvals required to be obtained in connection with the
Shelf Registration, the offering and sale of the Transfer Restricted Securities,
this Exchange and Registration Rights Agreement or any agreement of the type
referred to in Section 3(d)(xvi) hereof, except such approvals as are referenced
in the Shelf Registration Statement or as may be required under state securities
or blue sky laws; the material compliance as to form of such

                                      -14-
<PAGE>

Shelf Registration Statement and any documents incorporated by reference therein
and of the Indenture with the requirements of the Act and the Trust Indenture
Act and the rules and regulations of the Commission thereunder, respectively;
and the expression of the belief of such counsel as to the absence of any facts
having come to the attention of such counsel that have caused them to believe
that such Shelf Registration Statement and the Prospectus included therein, as
then amended or supplemented, as of the date of the opinion and of the Shelf
Registration Statement or most recent post-effective amendment thereto, as the
case may be, and from the documents incorporated by reference therein as of the
dates of such documents (in each case other than the financial statements,
related notes, related schedules and other financial data contained therein)
contained an untrue statement of a material fact or omitted to state therein a
material fact necessary to make the statements therein in light of the
circumstances under which they were made, and in the case of the documents
incorporated by reference, in the light of the circumstances existing at the
time that such documents were filed with the Commission under the Exchange Act,
not misleading); (C) obtain a "comfort" letter or letters from the independent
certified public accountants of the Company addressed to the selling Electing
Holders, the placement or sales agent, if any, therefor or the underwriters, if
any, thereof, dated (i) the effective date of such Shelf Registration Statement
and (ii) the effective date of any Prospectus supplement to the Prospectus
included in such Shelf Registration Statement or post-effective amendment to
such Shelf Registration Statement which includes unaudited or audited financial
statements as of a date or for a period subsequent to that of the latest such
statements included in such Prospectus (and, if such Shelf Registration
Statement contemplates an underwritten offering pursuant to any Prospectus
supplement to the Prospectus included in such Shelf Registration Statement or
post-effective amendment to such Shelf Registration Statement which includes
unaudited or audited financial statements as of a date or for a period
subsequent to that of the latest such statements included in such Prospectus,
dated the date of the closing under the underwriting agreement relating
thereto), such letter or letters to be in customary form and covering such
matters of the type customarily covered by letters of such type; (D) deliver
such documents and certificates, including officers' certificates, as may be
reasonably requested by any Electing Holders of at least 20% in aggregate
principal amount of the Transfer Restricted Securities at the time outstanding
or the placement or sales agent, if any, therefor and the managing underwriters,
if any, thereof to evidence the accuracy of the representations and warranties
made pursuant to clause (A) above or those contained in Section 5(a) hereof and
the compliance with or satisfaction of any agreements or conditions contained in
the underwriting agreement or other agreement entered into by the Company; and
(E) undertake such obligations relating to expense reimbursement,
indemnification and contribution as are provided in Section 6 hereof;

          (xviii)  notify in writing each holder of Transfer Restricted
Securities of any proposal by the Company to amend or waive any provision of
this Exchange and Registration Rights Agreement pursuant to Section 9(h) hereof
and of any amendment or waiver effected pursuant thereto, each of which notices
shall contain the text of the amendment or waiver proposed or effected, as the
case may be;

          (xix)    in the event that any broker-dealer registered under the
Exchange Act shall underwrite any Transfer Restricted Securities or participate
as a member of an underwriting syndicate or selling group or "assist in the
distribution" (within the meaning of the Rules of Fair

                                      -15-
<PAGE>

Practice and the By-Laws of the National Association of Securities Dealers, Inc.
("NASD") or any successor thereto, as amended from time to time) thereof,
whether as a holder of such Transfer Restricted Securities or as an underwriter,
a placement or sales agent or a broker or dealer in respect thereof, or
otherwise, assist such broker-dealer in complying with the requirements of such
Rules and By-Laws, including by (A) if such Rules or By-Laws shall so require,
engaging a "qualified independent underwriter" (as defined in such Schedule (or
any successor thereto)) to participate in the preparation of the Shelf
Registration Statement relating to such Transfer Restricted Securities, to
exercise usual standards of due diligence in respect thereto and, if any portion
of the offering contemplated by such Shelf Registration Statement is an
underwritten offering or is made through a placement or sales agent, to
recommend the yield of such Transfer Restricted Securities, (B) indemnifying any
such qualified independent underwriter to the extent of the indemnification of
underwriters provided in Section 6 hereof (or to such other customary extent as
may be requested by such underwriter), and (C) providing such information to
such broker-dealer as may be required in order for such broker-dealer to comply
with the requirements of the Rules of Fair Practice of the NASD; and

               (xx) comply with all applicable rules and regulations of the
Commission, and make generally available to its securityholders as soon as
practicable but in any event not later than eighteen months after the effective
date of such Shelf Registration Statement, an earning statement of the Company
and its subsidiaries complying with Section 11(a) of the Act (including, at the
option of the Company, Rule 158 thereunder).

          (e)  In the event that the Company would be required, pursuant to
Section 3(d)(viii)(D) above, to notify the Electing Holders, the placement or
sales agent, if any, therefor and the managing underwriters, if any, thereof,
the Company shall without unreasonable delay, subject to Section 3(d)(iv),
prepare and furnish to each of the Electing Holders, to each placement or sales
agent, if any, and to each such underwriter, if any, a reasonable number of
copies of a Prospectus supplemented or amended so that, as thereafter delivered
to purchasers of Transfer Restricted Securities, such Prospectus shall conform
in all material respects to the applicable requirements of the Act and the Trust
Indenture Act and the rules and regulations of the Commission thereunder and
shall not contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances then existing.  Each
Electing Holder agrees that upon receipt of any notice from the Company pursuant
to Section 3(d)(viii)(D) hereof, such Electing Holder shall forthwith
discontinue the disposition of Transfer Restricted Securities pursuant to the
Shelf Registration Statement applicable to such Transfer Restricted Securities
until such Electing Holder shall have received copies of such amended or
supplemented Prospectus, and if so directed by the Company, such Electing Holder
shall deliver to the Company (at the Company's expense) all copies, other than
permanent file copies, then in such Electing Holder's possession of the
Prospectus covering such Transfer Restricted Securities at the time of receipt
of such notice.

          (f)  In the event of a Shelf Registration, in addition to the
information required to be provided by each Electing Holder in its Notice and
Questionnaire, the Company may require such Electing Holder to furnish to the
Company such additional information regarding such Electing

                                      -16-
<PAGE>

Holder and such Electing Holder's intended method of distribution of Transfer
Restricted Securities as may be required in order to comply with the Act. Each
such Electing Holder agrees to notify the Company as promptly as practicable of
any inaccuracy or change in information previously furnished by such Electing
Holder to the Company or of the occurrence of any event in either case as a
result of which any Prospectus relating to such Shelf Registration contains or
would contain an untrue statement of a material fact regarding such Electing
Holder or such Electing Holder's intended method of disposition of such Transfer
Restricted Securities or omits to state any material fact regarding such
Electing Holder or such Electing Holder's intended method of disposition of such
Transfer Restricted Securities required to be stated therein or necessary to
make the statements therein not misleading in light of the circumstances then
existing, and promptly to furnish to the Company any additional information
required to correct and update any previously furnished information or required
so that such Prospectus shall not contain, with respect to such Electing Holder
or the disposition of such Transfer Restricted Securities, an untrue statement
of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading in light of
the circumstances then existing.

          (g)  Until the expiration of two years after the Closing Date, the
Company will not resell, and will use its best efforts to prevent any of its
Affiliates from reselling, any of the Securities that have been reacquired by
any of them except pursuant to an effective registration statement under the
Act.

          (h)  As a condition to its participation in the Exchange Offer
pursuant to the terms of this Agreement, each holder of Transfer Restricted
Securities shall furnish, upon the written request of the Company, prior to the
completion of the Exchange Offer, a written representation to the Company,
(which may be contained in the letter of transmittal contemplated by the
Exchange Offer Registration Statement) to the effect that (A) it is not an
affiliate of the Company, (B) it is not engaged in, and does not intend to
engage in, and has no arrangement or understanding with any person to
participate in, a distribution of the Exchange Securities to be issued in the
Exchange Offer and (C) it is acquiring the Exchange Securities in its ordinary
course of business. Each Holder hereby acknowledges and agrees that any Broker-
Dealer and any such holder using the Exchange Offer to participate in a
distribution of the securities to be acquired in the Exchange Offer (1) could
not under Commission policy as in effect on the date of this Agreement rely on
the position of the Commission enunciated in Morgan Stanley and Co., Inc.
(available June 5, 1991) and Exxon Capital Holdings Corporation (available May
13, 1988), as interpreted in the Commission's letter to Shearman & Sterling
dated July 2, 1993, and similar no-action letters, and (2) must comply with the
registration and prospectus delivery requirements of the Act in connection with
a secondary resale transaction and that such a secondary resale transaction must
be covered by an effective registration statement (which may be the Exchange
Offer Registration Statement) containing the selling security holder information
required by Item 507 or 508, as applicable, of Regulation S-K if the resales are
of Exchange Securities obtained by such Holder in exchange for securities
acquired by such holder directly from the Company or an affiliate thereof.

          4.   Registration Expenses.

                                      -17-
<PAGE>

          The Company agrees to bear and to pay or cause to be paid promptly all
expenses incident to the Company's performance of or compliance with this
Exchange and Registration Rights Agreement, including (a) all Commission and any
NASD registration, filing and review fees and expenses including fees and
disbursements of counsel for the placement or sales agent or underwriters in
connection with such NASD registration, filing and review, (b) all fees and
expenses in connection with the qualification of the Securities for offering and
sale under the State securities and blue sky laws referred to in Section
3(d)(xii) hereof and determination of their eligibility for investment under the
laws of such jurisdictions as any managing underwriters or the Electing Holders
may designate, including any fees and disbursements of counsel for the Electing
Holders (subject to the limitations of Clause (i) below) or underwriters in
connection with such qualification and determination, (c) all expenses relating
to the preparation, printing, production, distribution and reproduction of each
registration statement required to be filed hereunder, each Prospectus included
therein or prepared for distribution pursuant hereto, each amendment or
supplement to the foregoing, the expenses of preparing the Securities for
delivery and the expenses of printing or producing any underwriting agreements,
agreements among underwriters, selling agreements and blue sky or legal
investment memoranda and all other documents in connection with the offering,
sale or delivery of Securities to be disposed of (including certificates
representing the Securities), (d) messenger, telephone and delivery expenses
relating to the offering, sale or delivery of Securities and the preparation of
documents referred in clause (c) above, (e) fees and expenses of the Trustee
under the Indenture, any agent of the Trustee and any counsel for the Trustee
and of any collateral agent or custodian, (f) internal expenses (including all
salaries and expenses of the Company's officers and employees performing legal
or accounting duties), (g) fees, disbursements and expenses of counsel and
independent certified public accountants of the Company (including the expenses
of any opinions or "comfort" letters required by or incident to such performance
and compliance), (h) fees, disbursements and expenses of any "qualified
independent underwriter" engaged pursuant to Section 3(d)(xix) hereof, (i) fees,
disbursements and expenses of one counsel for the Electing Holders retained in
connection with a Shelf Registration, as selected by the Electing Holders of at
least a majority in aggregate principal amount of the Transfer Restricted
Securities held by Electing Holders (which counsel shall be reasonably
satisfactory to the Company), (j) any fees charged by securities rating services
for rating the Securities, and (k) fees, expenses and disbursements of any other
persons, including special experts, retained by the Company in connection with
such registration (collectively, the "Registration Expenses").  To the extent
that any Registration Expenses are incurred, assumed or paid by any holder of
Transfer Restricted Securities or any placement or sales agent therefor or
underwriter thereof, the Company shall reimburse such person for the full amount
of the Registration Expenses so incurred, assumed or paid promptly after receipt
of a request therefor.  Notwithstanding the foregoing, the holders of the
Transfer Restricted Securities being registered shall pay all agency fees and
commissions and underwriting discounts and commissions attributable to the sale
of such Transfer Restricted Securities and the fees and disbursements of any
counsel or other advisors or experts retained by such holders (severally or
jointly), other than the counsel and experts specifically referred to above.

          5.  Representations and Warranties.

                                      -18-
<PAGE>

     The Company represents and warrants to, and agrees with, each Initial
Purchaser and each of the holders from time to time of Transfer Restricted
Securities that:

          (a)  Each registration statement covering Transfer Restricted
Securities and each Prospectus (including any preliminary or summary Prospectus)
contained therein or furnished pursuant to Section 3(d) or Section 3(c) hereof
and any further amendments or supplements to any such registration statement or
Prospectus, when it becomes effective or is filed with the Commission, as the
case may be, and, in the case of an underwritten offering of Transfer Restricted
Securities, at the time of the closing under the underwriting agreement relating
thereto, will conform in all material respects to the applicable requirements of
the Act and the Trust Indenture Act and the rules and regulations of the
Commission thereunder and will not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein not misleading; and at all times subsequent to
the Effective Time when a Prospectus would be required to be delivered under the
Act, other than from (i) such time as a notice has been given to holders of
Transfer Restricted Securities pursuant to Section 3(d)(viii)(D) or Section
3(c)(iii)(D) hereof until (ii) such time as the Company furnishes an amended or
supplemented Prospectus pursuant to Section 3(e) or Section 3(c)(iv) hereof,
each such registration statement, and each Prospectus (including any summary
Prospectus) contained therein or furnished pursuant to Section 3(d) or Section
3(c) hereof, as then amended or supplemented, will conform in all material
respects to the applicable requirements of the Act and the Trust Indenture Act
and the rules and regulations of the Commission thereunder and will not contain
an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not misleading
in the light of the circumstances then existing; provided, however, that this
representation and warranty shall not apply to any statements or omissions made
in reliance upon and in conformity with information furnished in writing to the
Company by a holder of Transfer Restricted Securities expressly for use therein.

          (b)  Any documents incorporated by reference in any Prospectus
referred to in Section 5(a) hereof, when they become or became effective or are
or were filed with the Commission, as the case may be, will conform or conformed
in all material respects to the requirements of the Act or the Exchange Act, as
applicable, and none of such documents will at such time contain or contained an
untrue statement of a material fact or will omit or omitted to state a material
fact required to be stated therein or necessary to make the statements therein
not misleading; provided, however, that this representation and warranty shall
not apply to any statements or omissions made in reliance upon and in conformity
with information furnished in writing to the Company by a holder of Transfer
Restricted Securities expressly for use therein.

          (c)  The compliance by the Company with all of the provisions of this
Exchange and Registration Rights Agreement and the consummation of the
transactions herein contemplated will not conflict with or result in a breach of
any of the terms or provisions of, or constitute a default under, any material
indenture, mortgage, deed of trust, loan agreement or other agreement or
instrument to which the Company or any subsidiary of the Company is a party or
by which the Company or any subsidiary of the Company is bound or to which any
of the property or assets of the Company or any subsidiary of the Company is
subject, nor will such action result in any violation of

                                      -19-
<PAGE>

the provisions of the certificate of incorporation, as amended, or the by-laws
of the Company or any statute or any order, rule or regulation of any court or
governmental agency or body having jurisdiction over the Company or any
subsidiary of the Company or any of their properties; and no consent, approval,
authorization, order, registration or qualification of or with any such court or
governmental agency or body is required for the consummation by the Company of
the transactions contemplated by this Exchange and Registration Rights
Agreement, except the registration under the Act of the Securities,
qualification of the Indenture under the Trust Indenture Act and such consents,
approvals, authorizations, registrations or qualifications as may be required
under State securities or blue sky laws in connection with the offering and
distribution of the Securities.

          (d) This Exchange and Registration Rights Agreement has been duly
authorized, executed and delivered by the Company.

     6.   Indemnification.

          (a)  Indemnification by the Company.  The Company shall indemnify and
hold harmless each of the holders of Transfer Restricted Securities included in
an Exchange Offer Registration Statement, each of the Electing Holders of
Transfer Restricted Securities included in a Shelf Registration Statement and
each person who participates as a placement or sales agent or as an underwriter
in any offering or sale of such Transfer Restricted Securities against any
losses, claims, damages or liabilities, joint or several, to which such holder,
agent or underwriter may become subject under the Act or otherwise, insofar as
such losses, claims, damages or liabilities (or actions in respect thereof)
arise out of or are based upon an untrue statement or alleged untrue statement
of a material fact contained in any Exchange Offer Registration Statement or
Shelf Registration Statement, as the case may be, under which such Transfer
Restricted Securities were registered under the Act, or any preliminary, final
or summary Prospectus contained therein or furnished by the Company to any such
holder, Electing Holder, agent or underwriter, or any amendment or supplement
thereto, or arise out of or are based upon the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, and the Company shall, and it hereby
agrees to, reimburse such holder, such Electing Holder, such agent and such
underwriter for any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such action or claim as such
expenses are incurred; provided, however, that the Company shall not be liable
to any such person in any such case to the extent that any such loss, claim,
damage or liability arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission made in such
registration statement, or preliminary, final or summary Prospectus, or
amendment or supplement thereto, in reliance upon and in conformity with written
information furnished to the Company by such person expressly for use therein;

          (b)  Indemnification by the Holders and any Agents and Underwriters.
The Company may require, as a condition to including any Transfer Restricted
Securities in any registration statement filed pursuant to Section 2(b) hereof
and to entering into any underwriting agreement with respect thereto, that the
Company shall have received an undertaking reasonably satisfactory to it from
the Electing Holder of such Transfer Restricted Securities and from each

                                      -20-
<PAGE>

underwriter named in any such underwriting agreement, severally and not jointly,
to (i) indemnify and hold harmless the Company, and all other holders of
Transfer Restricted Securities, against any losses, claims, damages or
liabilities to which the Company or such other holders of Transfer Restricted
Securities may become subject, under the Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out
of or are based upon an untrue statement or alleged untrue statement of a
material fact contained in such registration statement, or any preliminary,
final or summary Prospectus contained therein or furnished by the Company to any
such Electing Holder, agent or underwriter, or any amendment or supplement
thereto, or arise out of or are based upon the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, in each case to the extent, but only to
the extent, that such untrue statement or alleged untrue statement or omission
or alleged omission was made in reliance upon and in conformity with written
information furnished to the Company by such Electing Holder or underwriter
expressly for use therein, and (ii) reimburse the Company for any legal or other
expenses reasonably incurred by the Company in connection with investigating or
defending any such action or claim as such expenses are incurred; provided,
however, that no such Electing Holder shall be required to undertake liability
to any person under this Section 6(b) for any amounts in excess of the dollar
amount of the proceeds to be received by such Electing Holder from the sale of
such Electing Holder's Transfer Restricted Securities pursuant to such
registration.

          (c)  Notices of Claims, Etc.  Promptly after receipt by an indemnified
party under subsection (a) or (b) above of written notice of the commencement of
any action, such indemnified party shall, if a claim in respect thereof is to be
made against an indemnifying party pursuant to the indemnification provisions of
or contemplated by this Section 6, notify such indemnifying party in writing of
the commencement of such action; but the omission so to notify the indemnifying
party shall not relieve it from any liability which it may have to any
indemnified party other than under the indemnification provisions of or
contemplated by Section 6(a) or 6(b) hereof.  In case any such action shall be
brought against any indemnified party and it shall notify an indemnifying party
of the commencement thereof, such indemnifying party shall be entitled to
participate therein and, to the extent that it shall wish, jointly with any
other indemnifying party similarly notified, to assume the defense thereof, with
counsel reasonably satisfactory to such indemnified party (who shall not, except
with the consent of the indemnified party, be counsel to the indemnifying
party), and, after notice from the indemnifying party to such indemnified party
of its election so to assume the defense thereof, such indemnifying party shall
not be liable to such indemnified party for any legal expenses of other counsel
or any other expenses, in each case subsequently incurred by such indemnified
party, in connection with the defense thereof other than reasonable costs of
investigation.  No indemnifying party shall, without the written consent of the
indemnified party, effect the settlement or compromise of, or consent to the
entry of any judgment with respect to, any pending or threatened action or claim
in respect of which indemnification or contribution may be sought hereunder
(whether or not the indemnified party is an actual or potential party to such
action or claim) unless such settlement, compromise or judgment (i) includes an
unconditional release of the indemnified party from all liability arising out of
such action or claim and (ii) does not include a statement as to or an admission
of fault, culpability or a failure to act by or on behalf of any indemnified
party.

                                      -21-
<PAGE>

          (d)  Contribution.  If for any reason the indemnification provisions
contemplated by Section 6(a) or Section 6(b) are unavailable to or insufficient
to hold harmless an indemnified party in respect of any losses, claims, damages
or liabilities (or actions in respect thereof) referred to therein, then each
indemnifying party shall contribute to the amount paid or payable by such
indemnified party as a result of such losses, claims, damages or liabilities (or
actions in respect thereof) in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party in connection
with the statements or omissions which resulted in such losses, claims, damages
or liabilities (or actions in respect thereof), as well as any other relevant
equitable considerations.  The relative fault of such indemnifying party and
indemnified party shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or omission or
alleged omission to state a material fact relates to information supplied by
such indemnifying party or by such indemnified party, and the parties' relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.  The parties hereto agree that it would not be just
and equitable if contributions pursuant to this Section 6(d) were determined by
pro rata allocation (even if the holders or any agents or underwriters or all of
them were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred
to in this Section 6(d).  The amount paid or payable by an indemnified party as
a result of the losses, claims, damages, or liabilities (or actions in respect
thereof) referred to above shall be deemed to include any legal or other fees or
expenses reasonably incurred by such indemnified party in connection with
investigating or defending any such action or claim.  Notwithstanding the
provisions of this Section 6(d), no holder shall be required to contribute any
amount in excess of the amount by which the dollar amount of the proceeds
received by such holder from the sale of any Transfer Restricted Securities
(after deducting any fees, discounts and commissions applicable thereto) exceeds
the amount of any damages which such holder has otherwise been required to pay
by reason of such untrue or alleged untrue statement or omission or alleged
omission, and no underwriter shall be required to contribute any amount in
excess of the amount by which the total price at which the Transfer Restricted
Securities underwritten by it and distributed to the public were offered to the
public exceeds the amount of any damages which such underwriter has otherwise
been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission.  No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation.  The holders' and any underwriters' obligations in this
Section 6(d) to contribute shall be several in proportion to the principal
amount of Transfer Restricted Securities registered or underwritten, as the case
may be, by them and not joint.

          (e)  The obligations of the Company under this Section 6 shall be in
addition to any liability which the Company may otherwise have and shall extend,
upon the same terms and conditions, to each officer, director and partner of
each holder, agent and underwriter and each person, if any, who controls any
holder, agent or underwriter within the meaning of the Act; and the obligations
of the holders and any agents or underwriters contemplated by this Section 6
shall be in addition to any liability which the respective holder, agent or
underwriter may otherwise have and shall extend, upon the same terms and
conditions, to each officer and director of the Company (including any person
who, with his consent, is named in any registration statement as about to

                                      -22-
<PAGE>

become a director of the Company) and to each person, if any, who controls the
Company within the meaning of the Act.

          7.   Underwritten Offerings.

               (a)  Selection of Underwriters. If any of the Transfer Restricted
Securities covered by the Shelf Registration are to be sold pursuant to an
underwritten offering, the managing underwriter or underwriters thereof shall be
designated by Electing Holders holding at least a majority in aggregate
principal amount of the Transfer Restricted Securities to be included in such
offering, provided that such designated managing underwriter or underwriters is
or are reasonably acceptable to the Company.

               (b)  Participation by Holders. Each holder of Transfer Restricted
Securities hereby agrees with each other such holder that no such holder may
participate in any underwritten offering hereunder unless such holder (i) agrees
to sell such holder's Transfer Restricted Securities on the basis provided in
any underwriting arrangements approved by the persons entitled hereunder to
approve such arrangements and (ii) completes and executes all questionnaires,
powers of attorney, indemnities, underwriting agreements and other documents
reasonably required under the terms of such underwriting arrangements.

          8.   Rule 144.

          The Company covenants to the holders of Transfer Restricted Securities
that to the extent it shall be required to do so under the Exchange Act, the
Company shall timely file the reports required to be filed by it under the
Exchange Act or the Act (including the reports under Section 13 and 15(d) of the
Exchange Act referred to in subparagraph (c)(1) of Rule 144 adopted by the
Commission under the Act) and the rules and regulations adopted by the
Commission thereunder, and shall take such further action as any holder of
Transfer Restricted Securities may reasonably request, all to the extent
required from time to time to enable such holder to sell Transfer Restricted
Securities without registration under the Act within the limitations of the
exemption provided by Rule 144 under the Act, as such Rule may be amended from
time to time, or any similar or successor rule or regulation hereafter adopted
by the Commission. Upon the request of any holder of Transfer Restricted
Securities in connection with that holder's sale pursuant to Rule 144, the
Company shall deliver to such holder a written statement as to whether it has
complied with such requirements.

          9.   Miscellaneous.

               (a)  No Inconsistent Agreements. The Company represents,
warrants, covenants and agrees that it has not granted, and shall not grant,
registration rights with respect to Transfer Restricted Securities or any other
securities which would be inconsistent with the terms contained in this Exchange
and Registration Rights Agreement.

               (b)  Specific Performance. The parties hereto acknowledge that
there would be no adequate remedy at law if the Company fails to perform any of
their respective obligations hereunder and that the Initial Purchasers and the
holders from time to time of the Transfer Restricted

                                      -23-
<PAGE>

Securities may be irreparably harmed by any such failure, and accordingly agree
that the Initial Purchasers and such holders, in addition to any other remedy to
which they may be entitled at law or in equity, shall be entitled to compel
specific performance of the respective obligations of the Company under this
Exchange and Registration Rights Agreement in accordance with the terms and
conditions of this Exchange and Registration Rights Agreement, in any court of
the United States or any State thereof having jurisdiction.

          (c) Notices. All notices, requests, claims, demands, waivers and other
communications hereunder shall be in writing and shall be deemed to have been
duly given when delivered by hand, if delivered personally or by courier, or
three days after being deposited in the mail (registered or certified mail,
postage prepaid, return receipt requested) as follows:

          To the Company:

          Exodus Communications, Inc.
          2831 Mission College Blvd.
          Santa Clara, California 95054
          Attention:  General Counsel
          Phone: (408) 346-2200
          Fax: (408) 346-2206
          To the Initial Purchasers:

          Goldman, Sachs & Co.
          Merrill Lynch, Pierce, Fenner & Smith Incorporated
          Morgan Stanley & Co. Incorporated
          Chase Securities Inc.
          Donaldson, Lufkin & Jenrette Securities Corporation
          FleetBoston Robertson Stephens Inc.
          Thomas Weisel Partners LLC
          c/o Goldman, Sachs & Co.
          85 Broad Street
          New York, NY 10004
          Phone: (212) 902-1000
          Fax: (212) 902-3000

          To a holder:

          to the address of such holder set forth in the security register or
          other records of the Company, or to such other address as the Company
          or any such holder may have furnished to the other in writing in
          accordance herewith, except that notices of change of address shall be
          effective only upon receipt.

                                      -24-
<PAGE>

          (d) Parties in Interest. All the terms and provisions of this Exchange
and Registration Rights Agreement shall be binding upon, shall inure to the
benefit of and shall be enforceable by the parties hereto and the holders from
time to time of the Transfer Restricted Securities and the respective successors
and assigns of the parties hereto and such holders. In the event that any
transferee of any holder of Transfer Restricted Securities shall acquire
Transfer Restricted Securities, in any manner, whether by gift, bequest,
purchase, operation of law or otherwise, such transferee shall, without any
further writing or action of any kind, be deemed a beneficiary hereof for all
purposes and such Transfer Restricted Securities shall be held subject to all of
the terms of this Exchange and Registration Rights Agreement, and by taking and
holding such Transfer Restricted Securities such transferee shall be entitled to
receive the benefits of, and be conclusively deemed to have agreed to be bound
by all of the applicable terms and provisions of this Exchange and Registration
Rights Agreement. If the Company shall so request, any such successor, assign or
transferee shall agree in writing to acquire and hold the Transfer Restricted
Securities subject to all of the applicable terms hereof.

          (e)  Survival. The respective indemnities, agreements,
representations, warranties and each other provision set forth in this Exchange
and Registration Rights Agreement or made pursuant hereto shall remain in full
force and effect regardless of any investigation (or statement as to the results
thereof) made by or on behalf of any holder of Transfer Restricted Securities,
any director, officer or partner of such holder, any agent or underwriter or any
director, officer or partner thereof, or any controlling person of any of the
foregoing, and shall survive delivery of and payment for the Transfer Restricted
Securities pursuant to the Purchase Agreement and the transfer and registration
of Transfer Restricted Securities by such holder and the consummation of an
Exchange Offer.

          (f)  LAW GOVERNING. THIS EXCHANGE AND REGISTRATION RIGHTS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF
NEW YORK.

          (g)  Headings. The descriptive headings of the several Sections and
paragraphs of this Exchange and Registration Rights Agreement are inserted for
convenience only, do not constitute a part of this Exchange and Registration
Rights Agreement and shall not affect in any way the meaning or interpretation
of this Exchange and Registration Rights Agreement.

          (h)  Entire Agreement; Amendments. This Exchange and Registration
Rights Agreement and the other writings referred to herein (including the
Indenture and the form of Securities) or delivered pursuant hereto which form a
part hereof contain the entire understanding of the parties with respect to its
subject matter. This Exchange and Registration Rights Agreement supersedes all
prior agreements and understandings between the parties with respect to its
subject matter. This Exchange and Registration Rights Agreement may be amended
and the observance of any term of this Exchange and Registration Rights
Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively) only by a written instrument duly executed by
the Company and the holders of at least a majority in aggregate principal amount
of the Transfer Restricted Securities at the time outstanding. Each holder of
any Transfer Restricted

                                      -25-
<PAGE>

Securities at the time or thereafter outstanding shall be bound by any amendment
or waiver effected pursuant to this Section 9(h), whether or not any notice,
writing or marking indicating such amendment or waiver appears on such Transfer
Restricted Securities or is delivered to such holder.

          (i)  Counterparts. This agreement may be executed by the parties in
counterparts, each of which shall be deemed to be an original, but all such
respective counterparts shall together constitute one and the same instrument.

                                      -26-
<PAGE>

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
referred to above.

               EXODUS COMMUNICATIONS, INC.

               By:/s/ R. Marshall Case
                  --------------------------------------
               Name:  R. Marshall Case
               Title: Executive Vice President, Finance
                      and Chief Financial Officer

               INITIAL PURCHASERS

               GOLDMAN, SACHS & CO.
               MERRILL LYNCH, PIERCE,
                 FENNER & SMITH INCORPORATED
               MORGAN STANLEY & CO. INCORPORATED
               CHASE SECURITIES INC.
               DONALDSON, LUFKIN & JENRETTE SECURITIES
                 CORPORATION
               FLEETBOSTON ROBERTSON STEPHENS INC.
               THOMAS WEISEL PARTNERS LLC

               GOLDMAN, SACHS & CO., on behalf of each of the Initial
               Purchasers

               By:/s/ Goldman, Sachs & Co.
                  --------------------------------------

                                      -27-
<PAGE>

                                                                       EXHIBIT A

                          EXODUS COMMUNICATIONS, INC.

                        INSTRUCTION TO DTC PARTICIPANTS
                        -------------------------------

                               (Date of Mailing)

                     URGENT - IMMEDIATE ATTENTION REQUESTED

                         DEADLINE FOR RESPONSE: [DATE]
                         -----------------------------

     The Depository Trust Company ("DTC") has identified you as a DTC
Participant through which beneficial interests in the Exodus Communications,
Inc. (the "Company") $1,000,000,000 principal amount of 11-5/8% Senior Notes due
2010 (the "Securities") are held.

     The Company is in the process of registering the Securities under the
Securities Act of 1933 for resale by the beneficial owners thereof.  In order to
have their Securities included in the registration statement, beneficial owners
must complete and return the enclosed Notice of Registration Statement and
Selling Securityholder Questionnaire.

     It is important that beneficial owners of the Securities receive a copy of
the enclosed materials as soon as possible as their rights to have the
Securities included in the registration statement depend upon their returning
the Notice and Questionnaire by [DEADLINE FOR RESPONSE].  Please forward a copy
of the enclosed documents to each beneficial owner that holds interests in the
Securities through you.  If you require more copies of the enclosed materials or
have any questions pertaining to this matter, please contact Exodus
Communications, Inc., 2831 Mission College Blvd., Santa Clara, CA 95054,
Attention:  General Counsel, (408) 346-2200.

                                      -28-
<PAGE>

                          Exodus Communications, Inc.

                       Notice of Registration Statement
                                      and
                     Selling Securityholder Questionnaire
                     ------------------------------------

                                    (Date)

     Reference is hereby made to the Exchange and Registration Rights Agreement
(the "Exchange and Registration Rights Agreement") between Exodus
Communications, Inc. (the "Company") and the Initial Purchasers named therein.
Pursuant to the Exchange and Registration Rights Agreement, the Company has
filed with the United States Securities and Exchange Commission (the
"Commission") a registration statement on Form [___] (the "Shelf Registration
Statement") for the registration and resale under Rule 415 of the Securities Act
of 1933, as amended (the "Act"), of the Company's $1,000,000,000 principal
amount of 11-5/8% Senior Notes due 2010 (the "Securities").  A copy of the
Exchange and Registration Rights Agreement is attached hereto.  All capitalized
terms not otherwise defined herein shall have the meanings ascribed thereto in
the Exchange and Registration Rights Agreement.

     Each beneficial owner of Transfer Restricted Securities (as defined below)
is entitled to have the Transfer Restricted Securities beneficially owned by it
included in the Shelf Registration Statement.  In order to have Transfer
Restricted Securities included in the Shelf Registration Statement, this Notice
of Registration Statement and Selling Securityholder Questionnaire ("Notice and
Questionnaire") must be completed, executed and delivered to the Company's
counsel at the address set forth herein for receipt ON OR BEFORE [DEADLINE FOR
RESPONSE].  Beneficial owners of Transfer Restricted Securities who do not
complete, execute and return this Notice and Questionnaire by such date (i) will
not be named as selling securityholders in the Shelf Registration Statement and
(ii) may not use the Prospectus forming a part thereof for resales of Transfer
Restricted Securities.

     Certain legal consequences arise from being named as a selling
securityholder in the Shelf Registration Statement and related Prospectus.
Accordingly, holders and beneficial owners of Transfer Restricted Securities are
advised to consult their own securities law counsel regarding the consequences
of being named or not being named as a selling securityholder in the Shelf
Registration Statement and related Prospectus.

     The term "Transfer Restricted Securities" is defined in the Exchange and
Registration Rights Agreement.

                                      -29-
<PAGE>

                                   ELECTION

     The undersigned holder (the "Selling Securityholder") of Transfer
Restricted Securities hereby elects to include in the Shelf Registration
Statement the Transfer Restricted Securities beneficially owned by it and listed
below in Item (c).  The undersigned, by signing and returning this Notice and
Questionnaire, agrees to be bound with respect to such Transfer Restricted
Securities by the terms and conditions of this Notice and Questionnaire and the
Exchange and Registration Rights Agreement, including, without limitation,
Section 6 of the Exchange and Registration Rights Agreement, as if the
undersigned Selling Securityholder were an original party thereto.

     Upon any sale of Transfer Restricted Securities pursuant to the Shelf
Registration Statement, the Selling Securityholder will be required to deliver
to the Company and Trustee the Notice of Transfer set forth in Appendix A to the
Prospectus and as Exhibit B to the Exchange and Registration Rights Agreement.

     The Selling Securityholder hereby provides the following information to the
Company and represents and warrants that such information is accurate and
complete:

                                      -30-
<PAGE>

                                 QUESTIONNAIRE

(a)  Full Legal Name of Selling Securityholder:

     ___________________________________________________________________________

     (i)    Full Legal Name of Registered Holder (if not the same as in (a)
            above) of Transfer Restricted Securities Listed in Item (c) below:

            ____________________________________________________________________

     (ii)   Full Legal Name of DTC Participant (if applicable and if not the
            same as (a) above) Through Which Transfer Restricted Securities
            Listed in Item (c) below are Held:

            ____________________________________________________________________

(b)  Address for Notices to Selling Securityholder:

     ___________________________________________________________________________

     ___________________________________________________________________________

     ___________________________________________________________________________

     Telephone:       __________________________________

     Fax:             __________________________________

     Contact Person:  __________________________________

(c)  Beneficial Ownership of Securities:

     Except as set forth below in this Item (c), the undersigned does not
beneficially own any Securities.

     (i)  Principal amount of Transfer Restricted Securities beneficially owned:

          CUSIP No(s). of such Transfer Restricted Securities:

                                      -31-
<PAGE>

     (ii)   Principal amount of Securities other than Transfer Restricted
            Securities beneficially owned:______________________________________

            CUSIP No(s). of such other Securities:

     (iii)  Principal amount of Transfer Restricted Securities which the
            undersigned wishes to be included in the Shelf Registration
            Statement:

            CUSIP No(s). of such Transfer Restricted Securities to be included
            in the Shelf Registration Statement:

(d)  Beneficial Ownership of Other Securities of the Company:

     Except as set forth below in this Item (d), the undersigned Selling
Securityholder is not the beneficial or registered owner of any other securities
of the Company, other than the Securities listed above in Item (c).

     State any exceptions here:

(e)  Relationships with the Company:

     Except as set forth below, neither the Selling Securityholder nor any of
its affiliates, officers, directors or principal equity holders (5% or more) has
held any position or office or has had any other material relationship with the
Company (or its predecessors or affiliates) during the past three years.

     State any exceptions here:

(f)  Plan of Distribution:

     Except as set forth below, the undersigned Selling Securityholder intends
to distribute the Transfer Restricted Securities listed above in Item (c) only
as follows (if at all):  Such Transfer Restricted Securities may be sold from
time to time directly by the undersigned Selling Securityholder or,
alternatively, through underwriters, Broker-Dealers or agents.  Such Transfer
Restricted Securities may be sold in one or more transactions at fixed prices,
at prevailing market prices at the time of sale, at varying prices determined at
the time of sale, or at negotiated prices.  Such sales may be effected in
transactions (which may involve crosses or block transactions) (i) on any
national securities exchange or quotation service on which the Transfer
Restricted Securities may be listed or quoted at the time of sale, (ii) in the
over-the-counter market, (iii) in transactions otherwise than on such exchanges
or services or in the over-the-counter market, or (iv) through the

                                      -32-
<PAGE>

writing of options. In connection with sales of the Transfer Restricted
Securities or otherwise, the Selling Securityholder may enter into hedging
transactions with Broker-Dealers, which may in turn engage in short sales of the
Transfer Restricted Securities in the course of hedging the positions they
assume. The Selling Securityholder may also sell Transfer Restricted Securities
short and deliver Transfer Restricted Securities to close out such short
positions, or loan or pledge Transfer Restricted Securities to Broker-Dealers
that in turn may sell such securities.

     State any exceptions here:

     By signing below, the Selling Securityholder acknowledges that it
understands its obligation to comply, and agrees that it will comply, with the
provisions of the Securities Exchange Act of 1934, as amended (the "Exchange
Act") and the rules and regulations thereunder, particularly Regulation M.

     In the event that the Selling Securityholder transfers all or any portion
of the Transfer Restricted Securities listed in Item (c) above after the date on
which such information is provided to the Company, the Selling Securityholder
agrees to notify the transferee(s) at the time of the transfer of its rights and
obligations under this Notice and Questionnaire and the Exchange and
Registration Rights Agreement.

     By signing below, the Selling Securityholder consents to the disclosure of
the information contained herein in its answers to Items (a) through (f) above
and the inclusion of such information in the Shelf Registration Statement and
related Prospectus.  The Selling Securityholder understands that such
information will be relied upon by the Company in connection with the
preparation of the Shelf Registration Statement and related Prospectus.

     In accordance with the Selling Securityholder's obligation under Section
3(d) and (f) of the Exchange and Registration Rights Agreement to provide such
information as may be required by law for inclusion in the Shelf Registration
Statement, the Selling Securityholder agrees to notify the Company promptly of
any inaccuracies or changes in the information provided herein which may occur
subsequent to the date hereof at any time while the Shelf Registration Statement
remains in effect.  All notices hereunder and pursuant to the Exchange and
Registration Rights Agreement shall be made in writing, by hand-delivery, first-
class mail, or air courier guaranteeing overnight delivery as follows:

                         (i)       To the Company:

                                        Exodus Communications, Inc.
                                        2831 Mission College Blvd.

                                      -33-
<PAGE>

                                        Santa Clara, California 95054
                                        Attention:  General Counsel
                                        (408) 346-2200

                         (ii)      With a copy to:

                                        Fenwick & West, LLP
                                        Two Palo Alto Square
                                        Palo Alto, CA 94306
                                        Attention:  Horace Nash
                                        (650) 494-0600

     Once this Notice and Questionnaire is executed by the Selling
Securityholder and received by the Company's counsel, the terms of this Notice
and Questionnaire, and the representations and warranties contained herein,
shall be binding on, shall inure to the benefit of and shall be enforceable by
the respective successors, heirs, personal representatives, and assigns of the
Company and the Selling Securityholder (with respect to the Transfer Restricted
Securities beneficially owned by such Selling Securityholder and listed in Item
(c) above).  This Agreement shall be governed in all respects by the laws of the
State of New York.

                                      -34-
<PAGE>

     IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused
this Notice and Questionnaire to be executed and delivered either in person or
by its duly authorized agent.

Dated:  ________________

                              ____________________________________________
                              Selling Securityholder
                              (Print/type full legal name of beneficial
                              owner of Transfer Restricted Securities)

                              By: ________________________________________
                              Name:
                              Title:

PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE FOR RECEIPT ON
OR BEFORE [DEADLINE FOR RESPONSE] TO THE COMPANY'S COUNSEL AT:

                         Fenwick & West LLP
                         Two Palo Alto Square
                         Palo Alto, CA 94306
                         Attention: Horace Nash
                         (650) 494-0600

                                      -35-
<PAGE>

                                                                       Exhibit B

             NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT

Chase Manhattan Bank and Trust Company,
National Association
Exodus Communications, Inc.
c/o Chase Manhattan Bank and Trust Company,
National Association
101 Barclay Street
Floor 21 West
New York, NY 10286

Attention:  Trust Officer

               Re:  Exodus Communications, Inc. (the "Company")
                    $1,000,000,000  11-5/8% Senior Notes due 2010

Ladies and Gentlemen:

     Please be advised that _____________________ has transferred $___________
aggregate principal amount of the above referenced Notes pursuant to an
effective Registration Statement on Form [___] (File No.  333-____) filed by the
Company.

     We hereby certify that the prospectus delivery requirements, if any, of the
Securities Act of 1933, as amended, have been satisfied and that the above-named
beneficial owner of the Notes is named as a "Selling Holder" in the Prospectus
dated ___________, 2000 or in supplements thereto, and that the aggregate
principal amount of the Notes transferred are the Notes listed in such
Prospectus opposite such owner's name.

Dated:

                                        Very truly yours,

                                        ___________________________
                                        (Name)

                                        By:________________________
                                          (Authorized Signature)

                                      -36-

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