Document:

firstamendmenttoloan

Execution Version

FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT
THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into as of this 25th day of September, 2013 by and among THE PRIVATEBANK AND TRUST COMPANY (“Lender”), LAWSON PRODUCTS, INC., a Delaware corporation (“Lawson Products Delaware”), LAWSON PRODUCTS, INC., an Illinois corporation (“Lawson Products Illinois”), DRUMMOND AMERICAN LLC, an Illinois limited liability company (“Drummond American”), CRONATRON WELDING SYSTEMS LLC, a North Carolina limited liability company (“Cronatron Welding”), SHIRE DIVESTITURE COMPANY, a Nevada corporation (“Shire Divestiture”), BARON DIVESTITURE COMPANY, an Illinois corporation (“Baron Divestiture”), and AUTOMATIC SCREW MACHINE PRODUCTS COMPANY, INC., an Alabama corporation (“Automatic Screw Machine”; Lawson Products Delaware, Lawson Products Illinois, Drummond American, Cronatron Welding, Shire Divestiture, Baron Divestiture and Automatic Screw Machine are individually referred to herein each as a “Borrower” and collectively as “Borrowers”).
W I T N E S S E T H:
WHEREAS, Lender and Borrowers are party to that certain Loan and Security Agreement dated as of August 8, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”);
WHEREAS, Borrowers have requested that Lender agree to amend the Loan Agreement in certain respects as set forth herein; and
WHEREAS, Lender is willing to make such amendments, subject to the terms, conditions and other provisions hereof.
NOW, THEREFORE, for and in consideration of the premises and mutual agreements herein contained and for the purposes of setting forth the terms and conditions of this Amendment, the parties, intending to be bound, hereby agree as follows:
Section 1    Incorporation of the Loan Agreement.  All capitalized terms which are not defined hereunder shall have the same meanings as set forth in the Loan Agreement, and the Loan Agreement, to the extent not inconsistent with this Amendment, is incorporated herein by this reference as though the same were set forth in its entirety.  To the extent any terms and provisions of the Loan Agreement are inconsistent with the amendments set forth in Section 2 below, such terms and provisions shall be deemed superseded hereby.  Except as specifically set forth herein, the Loan Agreement and the other Loan Documents shall remain in full force and effect and the provisions thereof shall be binding on the parties hereto.

Section 2    Amendment of the Loan Agreement.  Upon satisfaction of the conditions precedent set forth in Section 3 of this Amendment and in reliance on the representations and warranties made by the Loan Parties set forth herein, the Loan Agreement is hereby amended as follows:

(a)The Loan Agreement is amended by deleting Section 14.1.1 thereof in its entirety and restating it to read as follows:

14.1.1   EBITDA.  Loan Parties shall not permit EBITDA to be less than the amount set forth below for the corresponding fiscal quarter period set forth below (“Minimum EBITDA”):
	
		
	Quarter End
	Amount

	For the 3 month period ending on 9/30/2012
	$(1,000,000)

	For the 3 month period ending on 12/31/2012
	$(1,500,000)

	For the 3 month period ending on 3/31/2013
	$—

	For the 3 month period ending on 6/30/2013
	$2,000,000

	For the 3 month period ending on 9/30/2013
	$2,000,000

	For the 3 month period ending on 12/31/2013
	$3,000,000

	For the 3 month period ending on 3/31/2014
	$3,500,000

	For the 3 month period ending on 6/30/2014 and each 3 month period ending on the last day of each fiscal quarter thereafter
	$3,500,000

Section 3    Conditions Precedent.  The effectiveness of this Amendment is subject to satisfaction of the following conditions:

(a)    Lender shall have received a fully executed copy of this Amendment, in form and substance reasonably acceptable to Lender, executed by each of the Borrowers and Lender; and

(b)    The representations and warranties set forth in Section 4 below shall be true and correct.

Section 4    Representations and Warranties.  Each Loan Party hereby represents and warrants, in each case after giving effect to this Amendment, to Lender as follows:

(a)    The representations and warranties of each Loan Party in the Loan Agreement and each of the other Loan Documents to which it is a party shall be true and correct in all material respects (provided that if any representation or warranty is by its terms qualified by concepts of materiality, such representation or warranty shall be true and correct in all respects) on the date hereof, except for representations and warranties that expressly relate to an earlier date which must be true and correct as of such earlier date;

(b)No Default or Event of Default exists;

(c)Each Loan Party has the power and authority to execute, deliver and perform its obligations under this Amendment and each other document, agreement and instrument executed by such Loan Party in connection with each of the foregoing;

(d)The execution, delivery and performance by each Loan Party of this Amendment and each other document, agreement and instrument executed by such Loan Party in connection with each of the foregoing have been duly authorized by all necessary action; and

(e)This Amendment constitutes the legal, valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditor's rights generally or by equitable principles relating to enforceability.

Section 5    Fees and Expenses.  Borrowers agree to pay on demand all reasonable, out-of-pocket costs and expenses of or incurred by Lender, including, but not limited to, legal expenses and reasonable attorneys' fees, in connection with the evaluation, negotiation, preparation, execution and delivery of this Amendment.

Section 6    Entire Agreement.  This Amendment constitutes the entire agreement of the parties hereto with respect to the subject matter hereof and supersedes all other understandings, oral or written, with respect to the subject matter hereof.

Section 7    No Modification; No Waiver.  Except as expressly set forth herein, nothing contained herein shall be deemed to constitute a waiver of compliance with any term of condition contained in the Loan Agreement or any other Loan Document or constitute a course of conduct or dealing among the parties.  Except as expressly stated herein, Lender reserves all rights, privileges and remedies under the Loan Documents.  All references in the Loan Documents to the Loan Agreement shall be deemed to be references to the Loan Agreement, as amended hereby.  The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Lender under the Loan Agreement or any of the Loan Documents.

Section 8    Severability.  The illegality or unenforceability of any provision of this Amendment or any instrument or agreement required hereunder shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Amendment or any instrument or agreement required hereunder.

Section 9    Counterparts.  This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.  Delivery by facsimile or electronic transmission of a portable document file (also known as a .pdf file) of an executed counterpart signature page shall be effective as a manually executed counterpart signature hereof.

Section 10    Governing Law; Other Waivers.  This Amendment shall be governed and construed in accordance with the internal laws of the State of Illinois.  Section 18.11 of the Loan Agreement is incorporated herein by reference, mutatis mutandis.

Section 11    Release.  In consideration of Lender's agreements contained in this Amendment, each Loan Party hereby irrevocably releases and forever discharges Lender and its affiliates, subsidiaries, successors, assigns, directors, officers, employees, agents, consultants and attorneys (each, a “Released Person”) of and from any and all claims, suits, actions, investigations, proceedings or 

demands, whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which such Loan Party ever had or now has against Lender or any other Released Person which relates, directly or indirectly, to any acts of omissions of Lender or any other Released Person relating to the Loan Agreement or any other Loan Document on or prior to the date hereof.

[SIGNATURE PAGE FOLLOWS]

(Signature Page to First Amendment to Loan and Security Agreement)

IN WITNESS WHEREOF, the parties hereto have duly executed this First Amendment to Loan and Security Agreement as of the date first above written.
BORROWERS:
LAWSON PRODUCTS, INC., a Delaware corporation
    
By: /s/ Michael G. DeCata                            
Name: Michael G. DeCata                            
Title: President & Chief Executive Officer   
    

LAWSON PRODUCTS, INC., an Illinois corporation
    
By: /s/ Michael G. DeCata                            
Name: Michael G. DeCata                            
Title: President & Chief Executive Officer   
    

DRUMMOND AMERICAN LLC, an  Illinois limited liability company
    
By: /s/ Michael G. DeCata                            
Name: Michael G. DeCata                            
Title: President                                               
    

CRONATRON WELDING SYSTEMS LLC, a North Carolina limited liability company
    
By: /s/ Michael G. DeCata                            
Name: Michael G. DeCata                            
Title: President                                               
    

AUTOMATIC SCREW MACHINE PRODUCTS COMPANY, INC., an   Alabama corporation
    
By: /s/ Michael G. DeCata                            
Name: Michael G. DeCata                            
Title: Chief Executive Officer                       
    

(Signature Page to First Amendment to Loan and Security Agreement)

BORROWERS (con't):
SHIRE DIVESTITURE COMPANY, a Nevada corporation
    
By: /s/ Michael G. DeCata                            
Name: Michael G. DeCata                            
Title: President & Chief Executive Officer   
    

BARON DIVESTITURE COMPANY, an Illinois corporation
    
By: /s/ Michael G. DeCata                            
Name: Michael G. DeCata                            
Title: President & Chief Executive Officer   
    

(Signature Page to First Amendment to Loan and Security Agreement)

LENDER:
THE PRIVATEBANK AND TRUST COMPANY
    
By: /s/ Joseph G. Fudacz                               
       Joseph G. Fudacz                               
       Managing DirectorExhibit 4.6 

	
  

 
	
  

 

DAKOTA
PLAINS HOLDINGS, INC.

TO

as
Trustee

INDENTURE

Dated as of           , 20

	
  

 
	
  

 

CROSS REFERENCE SHEET *

          Provisions
of Trust Indenture Act of 1939, as amended, and Indenture to be dated as of           ,
20 by and between Dakota Plains Holdings, Inc. and           , as Trustee: 

	
  

 	
  

 	
  

 
	
 Section of the Act

 	
  

 	
 Section of Indenture

 
	
 310(a)(1)
 and (2)

 	
  

 	
 6.09

 
	
 310(a)(3)
 and (4)

 	
  

 	
 Inapplicable

 
	
 310(b)

 	
  

 	
 6.08 and
 6.10(a), (b) and (d)

 
	
 311(a)

 	
  

 	
 6.13

 
	
 311(b)

 	
  

 	
 6.13

 
	
 312(a)

 	
  

 	
 4.01 and
 4.02(a)

 
	
 312(b)

 	
  

 	
 4.02(a) and
 (b)

 
	
 312(c)

 	
  

 	
 4.02(c)

 
	
 313(a)

 	
  

 	
 4.04(a)

 
	
 313(b)(1)

 	
  

 	
 Inapplicable

 
	
 313(b)(2)

 	
  

 	
 4.04(a)

 
	
 313(c)

 	
  

 	
 4.04(a)

 
	
 313(d)

 	
  

 	
 4.04(b)

 
	
 314(a)

 	
  

 	
 4.03

 
	
 314(b)

 	
  

 	
 Inapplicable

 
	
 314(c)(1)
 and (2)

 	
  

 	
 14.05

 
	
 314(c)(3)

 	
  

 	
 Inapplicable

 
	
 314(d)

 	
  

 	
 Inapplicable

 
	
 314(e)

 	
  

 	
 14.05

 
	
 314(f)

 	
  

 	
 Inapplicable

 
	
 315(a), (c)
 and (d)

 	
  

 	
 6.01

 
	
 315(b)

 	
  

 	
 5.11

 
	
 315(e)

 	
  

 	
 5.12

 
	
 316(a)(1)

 	
  

 	
 5.09 and
 5.10

 
	
 316(a)(2)

 	
  

 	
 Not required

 
	
 316(a) (last
 sentence)

 	
  

 	
 7.04

 
	
 316(b)

 	
  

 	
 5.07

 
	
 316(c)

 	
  

 	
 7.06

 
	
 317(a)

 	
  

 	
 5.02

 
	
 317(b)

 	
  

 	
 3.04(a) and
 (b)

 
	
 318(a)

 	
  

 	
 14.07

 

	
  

 	
  

 	
  

 
	
  

 	
  

 
	
 *

 	
 This Cross
 Reference Sheet is not part of the Indenture. 

 

TABLE OF CONTENTS

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Page

 
	
  

 	
  

 	
  

 
	
 RECITALS

 	
  

 	
 1

 
	
 AGREEMENT

 	
  

 	
 1

 
	
 ARTICLE 1
 DEFINITIONS

 	
  

 	
 1

 
	
 ARTICLE 2
 SECURITIES

 	
  

 	
 5

 
	
 Section 2.01 Forms Generally

 	
  

 	
 5

 
	
 Section 2.02 Form of Trustee’s Certificate
 of Authentication

 	
  

 	
 6

 
	
 Section 2.03 Amount Unlimited; Issuable in
 Series

 	
  

 	
 6

 
	
 Section 2.04 Authentication and Delivery of
 Securities

 	
  

 	
 8

 
	
 Section 2.05 Execution of Securities

 	
  

 	
 9

 
	
 Section 2.06 Certificate of Authentication

 	
  

 	
 10

 
	
 Section 2.07 Denomination and Date of
 Securities; Payments of Interest

 	
  

 	
 10

 
	
 Section 2.08 Registration, Transfer and
 Exchange

 	
  

 	
 11

 
	
 Section 2.09 Mutilated, Defaced, Destroyed,
 Lost and Stolen Securities

 	
  

 	
 12

 
	
 Section 2.10 Cancellation of Securities

 	
  

 	
 13

 
	
 Section 2.11 Temporary Securities

 	
  

 	
 13

 
	
 Section 2.12 Currency and Manner of
 Payments in Respect of Securities

 	
  

 	
 13

 
	
 Section 2.13 Compliance with Certain Laws
 and Regulations

 	
  

 	
 16

 
	
 Section 2.14 CUSIP Numbers

 	
  

 	
 16

 
	
 Section 2.15 Securities in Global Form

 	
  

 	
 16

 
	
 Section 2.16 Form of Conversion Notice

 	
  

 	
 16

 
	
 ARTICLE 3
 COVENANTS OF THE ISSUER

 	
  

 	
 17

 
	
 Section 3.01 Payment of Principal and
 Interest

 	
  

 	
 17

 
	
 Section 3.02 Offices for Payment, etc.

 	
  

 	
 17

 
	
 Section 3.03 Appointment to Fill a Vacancy
 in Office of Trustee

 	
  

 	
 17

 
	
 Section 3.04 Paying Agents

 	
  

 	
 17

 
	
 Section 3.05 Additional Amounts

 	
  

 	
 18

 
	
 Section 3.06 Calculation of Original Issue
 Discount

 	
  

 	
 19

 
	
 ARTICLE 4
 SECURITYHOLDERS’ LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE

 	
  

 	
 19

 
	
 Section 4.01 Company to Furnish Trustee
 Information as to Names and Addresses of Securityholders

 	
  

 	
 19

 
	
 Section 4.02 Preservation and Disclosure of
 Securityholders’ Lists

 	
  

 	
 19

 
	
 Section 4.03 Reports by the Company

 	
  

 	
 20

 
	
 Section 4.04 Reports by the Trustee

 	
  

 	
 21

 
	
 ARTICLE 5
 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

 	
  

 	
 21

 
	
 Section 5.01 Event of Default Defined;
 Acceleration of Maturity; Waiver of Default

 	
  

 	
 21

 
	
 Section 5.02 Collection of Indebtedness by
 Trustee; Trustee May Prove Debt

 	
  

 	
 23

 
	
 Section 5.03 Application of Proceeds

 	
  

 	
 24

 
	
 Section 5.04 Suits for Enforcement

 	
  

 	
 25

 
	
 Section 5.05 Restoration of Rights on
 Abandonment of Proceedings

 	
  

 	
 25

 
	
 Section 5.06 Limitations on Suits by
 Securityholders

 	
  

 	
 25

 
	
 Section 5.07 Unconditional Right of
 Securityholders to Institute Certain Suits

 	
  

 	
 25

 
	
 Section 5.08 Powers and Remedies
 Cumulative; Delay or Omission Not Waiver of Default

 	
  

 	
 25

 
	
 Section 5.09 Control by Securityholders

 	
  

 	
 26

 
	
 Section 5.10 Waiver of Past Defaults

 	
  

 	
 26

 
	
 Section 5.11 Trustee to Give Notice of
 Default, But May Withhold in Certain Circumstances

 	
  

 	
 26

 
	
 5.12 Right of Court to Require Filing of
 Undertaking to Pay Costs

 	
  

 	
 26

 

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Page

 
	
  

 	
  

 	
  

 
	
 ARTICLE 6
 CONCERNING THE TRUSTEE

 	
  

 	
 27

 
	
 Section 6.01 Duties and Responsibilities of
 the Trustee; During Default; Prior to Default

 	
  

 	
 27

 
	
 Section 6.02 Certain Rights of the Trustee

 	
  

 	
 28

 
	
 Section 6.03 Trustee Not Responsible for
 Recitals, Disposition of Securities or Application of Proceeds Thereof

 	
  

 	
 28

 
	
 Section 6.04 Trustee and Agents May Hold
 Securities; Collections, etc.

 	
  

 	
 29

 
	
 Section 6.05 Moneys Held by Trustee

 	
  

 	
 29

 
	
 Section 6.06 Compensation and
 Indemnification of Trustee and Its Prior Claim

 	
  

 	
 29

 
	
 Section 6.07 Right of Trustee to Rely on
 Officers’ Certificate, etc.

 	
  

 	
 29

 
	
 Section 6.08 Disqualification of Trustee;
 Conflicting Interests

 	
  

 	
 30

 
	
 Section 6.09 Persons Eligible for
 Appointment as Trustee

 	
  

 	
 30

 
	
 Section 6.10 Resignation and Removal;
 Appointment of Successor Trustee

 	
  

 	
 30

 
	
 Section 6.11 Acceptance of Appointment by
 Successor Trustee

 	
  

 	
 31

 
	
 Section 6.12 Merger, Conversion,
 Consolidation or Succession to Business of Trustee

 	
  

 	
 32

 
	
 Section 6.13 Preferential Collection of
 Claims Against the Company

 	
  

 	
 32

 
	
 ARTICLE 7
 CONCERNING THE SECURITYHOLDERS

 	
  

 	
 32

 
	
 Section 7.01 Evidence of Action Taken by
 Securityholders

 	
  

 	
 32

 
	
 Section 7.02 Proof of Execution of
 Instruments

 	
  

 	
 33

 
	
 Section 7.03 Holders to Be Treated as
 Owners

 	
  

 	
 33

 
	
 Section 7.04 Securities Owned by Company
 Deemed Not Outstanding

 	
  

 	
 33

 
	
 Section 7.05 Right of Revocation of Action
 Taken

 	
  

 	
 33

 
	
 Section 7.06 Record Date for Determination
 of Holders Entitled to Vote

 	
  

 	
 33

 
	
 ARTICLE 8
 SUPPLEMENTAL INDENTURES

 	
  

 	
 34

 
	
 Section 8.01 Supplemental Indentures
 Without Consent of Securityholders

 	
  

 	
 34

 
	
 Section 8.02 Supplemental Indentures With
 Consent of Securityholders

 	
  

 	
 35

 
	
 Section 8.03 Effect of Supplemental
 Indenture

 	
  

 	
 36

 
	
 Section 8.04 Documents to Be Given to
 Trustee

 	
  

 	
 36

 
	
 Section 8.05 Notation on Securities in
 Respect of Supplemental Indentures

 	
  

 	
 36

 
	
 ARTICLE 9
 CONSOLIDATION, MERGER, SALE OR CONVEYANCE

 	
  

 	
 36

 
	
 Section 9.01 Company May Consolidate, etc.,
 on Certain Terms

 	
  

 	
 36

 
	
 Section 9.02 Successor Corporation
 Substituted

 	
  

 	
 37

 
	
 Section 9.03 Opinion of Counsel to Trustee

 	
  

 	
 37

 
	
 ARTICLE 10
 SATISFACTION AND DISCHARGE; DEFEASANCE

 	
  

 	
 37

 
	
 Section 10.01 Satisfaction and Discharge of
 Indenture

 	
  

 	
 37

 
	
 Section 10.02 Defeasance and Covenant
 Defeasance

 	
  

 	
 38

 
	
 Section 10.03 Application by Trustee of
 Funds Deposited for Payment of Securities

 	
  

 	
 39

 
	
 Section 10.04 Repayment of Moneys Held by
 Paying Agent

 	
  

 	
 39

 
	
 Section 10.05 Return of Unclaimed Moneys
 Held by Trustee and Paying Agent

 	
  

 	
 39

 
	
 Section 10.06 Reinstatement of Obligations

 	
  

 	
 40

 
	
 ARTICLE 11
 REDEMPTION OF SECURITIES

 	
  

 	
 40

 
	
 Section 11.01 Notice of Redemption; Partial
 Redemptions

 	
  

 	
 40

 
	
 Section 11.02 Payment of Securities Called
 for Redemption

 	
  

 	
 41

 
	
 Section 11.03 Exclusion of Certain
 Securities from Eligibility for Selection for Redemption

 	
  

 	
 42

 
	
 Section 11.04 Repayment at the Option of
 the Holders

 	
  

 	
 42

 
	
 ARTICLE 12
 HOLDERS’ MEETINGS

 	
  

 	
 42

 
	
 Section 12.01 Purposes of Meetings

 	
  

 	
 42

 
	
 Section 12.02 Call of Meetings by Trustee

 	
  

 	
 42

 
	
 Section 12.03 Call of Meetings by Company
 or Holders

 	
  

 	
 43

 
	
 Section 12.04 Qualifications for Voting

 	
  

 	
 43

 
	
 Section 12.05 Regulations

 	
  

 	
 43

 
	
 Section 12.06 Voting

 	
  

 	
 43

 
	
 Section 12.07 No Delay of Rights by Meeting

 	
  

 	
 44

 
	
 ARTICLE 13
 SECURITY

 	
  

 	
 44

 

ii

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Page

 
	
  

 	
  

 	
  

 
	
 ARTICLE 14
 MISCELLANEOUS PROVISIONS

 	
  

 	
 44

 
	
 Section 14.01 Incorporators, Stockholders,
 Officers and Directors of Company Exempt from Individual Liability

 	
  

 	
 44

 
	
 Section 14.02 Provisions of Indenture for
 the Sole Benefit of Parties and Securityholders

 	
  

 	
 45

 
	
 Section 14.03 Successors and Assigns of
 Company Bound by Indenture

 	
  

 	
 45

 
	
 Section 14.04 Notices and Demands on
 Company, Trustee and Securityholders

 	
  

 	
 45

 
	
 Section 14.05 Officers’ Certificates and
 Opinions of Counsel; Statements to Be Contained Therein

 	
  

 	
 45

 
	
 Section 14.06 Payments Due on Saturdays,
 Sundays and Holidays

 	
  

 	
 46

 
	
 Section 14.07 Conflict of Any Provision of
 Indenture with Trust Indenture Act

 	
  

 	
 46

 
	
 Section 14.08 New York Law to Govern

 	
  

 	
 46

 
	
 Section 14.09 Counterparts

 	
  

 	
 46

 
	
 Section 14.10 Effect of Headings

 	
  

 	
 46

 
	
 Section 14.11 Determination of Principal
 Amount

 	
  

 	
 46

 
	
 Section 14.12 Waiver

 	
  

 	
 47

 
	
 Section 14.13 Force Majeure

 	
  

 	
 47

 
	
 Section 14.14 Waiver of Jury Trial

 	
  

 	
 47

 

iii

          THIS
INDENTURE, dated as of           , 20 (this “Indenture”),
is by and between Dakota Plains Holdings, Inc., a Nevada corporation (the “Company”), and           , as Trustee (the “Trustee”), 

RECITALS

               A.          The
Company has duly authorized the execution and delivery of this Indenture in
order to issue from time to time its debentures, notes or other evidences of
indebtedness in one or more Series (as defined herein) in accordance with the
terms of this Indenture. 

               B.          All
things necessary to make this Indenture a valid agreement of the Company
according to its terms have been done. 

AGREEMENT

          In
consideration of the recitals and the purchases of the Securities by the
Holders (as defined herein) thereof, the Company and the Trustee mutually
covenant and agree for the equal and proportionate benefit of the respective
Holders from time to time of the Securities as follows: 

ARTICLE 1

DEFINITIONS

          The
following terms (except as herein otherwise expressly provided or unless the
context otherwise clearly requires) for all purposes of this Indenture and of
any indenture supplemental hereto shall have the respective meanings specified
in this Section 1.1. Certain terms used principally in certain Articles or
Sections hereof are defined in those Articles or Sections, as the case may be.
All terms used but not defined in this Indenture that are defined in the Trust
Indenture Act (as defined herein) or the definitions of which in the Securities
Act (as defined herein) are referred to in the Trust Indenture Act, including
terms defined therein by reference to the Securities Act (except as herein
otherwise expressly provided or unless the context otherwise clearly requires),
shall have the meanings assigned to such terms in the Trust Indenture Act and
in the Securities Act. Unless the context otherwise clearly requires: (a) all
accounting terms used herein and not expressly defined shall have the meanings
assigned to such terms in accordance with generally accepted accounting
principles, and the term” generally accepted accounting principles” means such
accounting principles as are generally accepted in the United States of America
(as defined herein) at the time of any computation; (b) the words” “herein,”
“hereof” and “hereunder” and other words of similar import refer to this
Indenture as a whole, as supplemented and amended from time to time, and not to
any particular Article, Section or other subdivision; (c) all references to
Articles, Sections or other subdivisions are to Articles, Sections or other
subdivisions of this Indenture; (d) words in the singular include the plural
and vice versa; (e) the pronoun “his” refers to the masculine, feminine and
neuter; (f) the word “including” or any variation thereof shall be deemed to be
followed by “but not limited to” and (g) the word “principal,” whenever used
with reference to the Securities or any Security or any portion thereof, shall
be deemed to be followed by “and premium, if any.” 

          “Additional Amounts” has the meaning
specified in Section 3.05. 

          “Business Day” means any calendar day that
is not a Saturday, Sunday or legal holiday in New York, New York, and on which
the Trustee and commercial banks are open for business in New York, New York. 

          “Capital Stock” means any and all shares,
interests, participations or other equivalents (however designated and whether
or not voting) of corporate stock, including each class of Common Stock and
Preferred Stock, and all options, warrants or other rights to purchase or
acquire any of the foregoing. 

          “Commission” means the Securities and
Exchange Commission, as from time to time constituted, created under the
Exchange Act or if at any time after the execution and delivery of this
Indenture such Commission is not 

1

existing and
performing the duties now assigned to it under the Trust Indenture Act, then
the body performing such duties on such date. 

          “Common Stock” includes any stock of any
class of the Company that has no preference in respect of dividends or of
amounts payable in the event of any voluntary or involuntary liquidation,
dissolution or winding up of the Company and which is not subject to redemption
by the Company. 

          “Company” means Dakota Plains Holdings,
Inc., a Nevada corporation, until a successor Person shall have become such pursuant
to the applicable provisions of this Indenture, and thereafter “Company” will
mean such successor Person. 

          “Company Board of Directors” means either
the Board of Directors of the Company or any committee of such Board of
Directors duly authorized to act hereunder, as the case may be. 

          “Company Board Resolution” means a copy of
one or more resolutions certified by the secretary or any assistant secretary
of the Company to have been duly adopted by the Company Board of Directors and
to be in full force and effect on the date of such certification, and delivered
to the Trustee. Where any provision of this Indenture refers to action to be
taken pursuant to a Company Board Resolution (including the establishment of
any Series of the Securities and the forms and terms thereof), such action may
be taken by any officer of the Company authorized to take such action by the
Company Board of Directors as evidenced by a Company Board Resolution. 

          “Company Officers’ Certificate” means a
certificate signed by both (i) the chief executive officer, the president or
any vice president of the Company and (ii) the treasurer or any assistant
treasurer or the secretary or any assistant secretary of the Company, and
delivered to the Trustee. Each such certificate shall include the statements
provided for in Section 14.05 to the extent applicable. 

          “Company Order” means a written order,
direction, instruction or request of the Company signed by both (i) the chief
executive officer, the president or any vice president of the Company and (ii)
the treasurer or any assistant treasurer or the secretary or any assistant
secretary of the Company. 

          “Conversion Date” has the meaning specified
in Section 2.12(e). 

          “Conversion Event” means the cessation of
use of a Foreign Currency both by the government of the country or countries,
or the confederation or association of governments, that issued such Currency
and for the settlement of transactions by a central bank or other public institutions
of or within the international banking community. 

          “Corporate Trust Office” means the office of
the Trustee at which the corporate trust business of the Trustee shall, at any
particular time, be principally administered, which office is, at the date as
of which this Indenture is dated, located at        . 

          “Coupon” means any interest coupon
appertaining to any Security. 

          “Coupon Security” means any Security
authenticated and delivered with one or more Coupons appertaining thereto. 

          “Currency” means any currency or currencies
issued by the government of one or more countries or by any confederation or
association of such governments, including Dollars, euros and pounds sterling. 

          “Currency Determination Agent” means the New
York clearing house bank, if any, from time to time selected by the Company for
purposes of Section 2.12. 

          “Dollar” means the coin or currency of the
United States of America which as of the time of payment is legal tender for
the payment of public and private debts. 

          “Event of Default” means any event or
condition specified as such in Section 5.01. 

2

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

          “Foreign Currency” means any Currency issued
by the government of one or more countries other than the United States of
America or by any confederation or association of such governments, including
euros and pounds sterling. 

          “Government Obligations” means securities which
are (i) direct obligations of the United States of America or the government
which issued the Currency in which the Securities of a particular Series are
denominated or (ii) obligations of a Person controlled or supervised by, or
acting as an agency or instrumentality of, the United States of America or the
government which issued the Currency in which the Securities of such Series are
denominated, the full and timely payment of which obligations is
unconditionally guaranteed by such government, and which, in either case, are
full faith and credit obligations of such government, are denominated in the
Currency in which the Securities of such Series are denominated and which are
not callable or redeemable at the option of the issuer thereof and shall also
include a depository receipt issued by a bank or trust company as custodian
with respect to any such Government Obligation or a specific payment of
interest on principal of any such Government Obligation held by such custodian
for the account of the holder of a depository receipt, provided that
(except as required by law) such custodian is not authorized to make any
deduction from the amount payable to the holder of such depository receipt from
any amount received by the custodian in respect of the Government Obligation or
the specific payment of interest on or principal of the Government Obligation
evidenced by such depository receipt. 

          “Holder,” “Holder
of Securities,” “Securityholder”
or other similar terms mean the bearer of an Unregistered Security or a
Registered Holder of a Registered Security and, when used with respect to any
Coupon, means the bearer thereof. 

          “Indenture” means this instrument as
originally executed and delivered or, if amended or supplemented as herein
provided, as so amended or supplemented or both, and shall include the forms
and terms of particular Series of Securities established as contemplated
hereunder. 

          “interest,” when used with respect to
non-interest bearing Securities, means interest payable at maturity and, when
used with respect to a Security which provides for the payment of Additional
Amounts pursuant to Section 3.5 or otherwise, includes such Additional Amounts.

          “Market Exchange Rate” has the meaning
specified in Section 2.12(d). 

          “Opinion of Counsel” means an opinion in
writing signed by legal counsel who may be an employee of or counsel to the
Company, and who shall be reasonably satisfactory to the Trustee. Each such
opinion shall include the statements provided for in Section 14.05 to the
extent applicable. 

          “Original Issue Discount” with respect to
any Security, including an Original Issue Discount Security, has the same
meaning set forth in Section 1273 of the Internal Revenue Code of 1986 as in
effect on the date hereof, or any successor provision, and the applicable
Treasury Regulations thereunder. 

          “Original Issue Discount Security” means any
Security which provides for an amount less than the stated principal amount
thereof to be due and payable upon declaration of acceleration of the maturity
thereof pursuant to Section 5.01. 

          “Outstanding,” when used with reference to
Securities, shall, subject to the provisions of Section 7.04, mean, as of any
particular time, all Securities authenticated and delivered by the Trustee
under this Indenture, except: 

	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
                (ii)
 Securities, or portions thereof, as to which moneys in the amount and
 Currency required for the repayment or redemption thereof shall have been
 deposited in trust with the Trustee or with any Paying Agent (other than the
 Company) or shall have been set aside, segregated and held in trust by the
 Company for the holders of such Securities (if the Company shall act as its
 own Paying Agent), provided that, if such 

 

3

	
  

 	
  

 
	
  

 	
 Securities,
 or portions thereof, are to be redeemed prior to the maturity thereof, notice
 of such redemption shall have been given as herein provided, or provision
 satisfactory to the Trustee shall have been made for giving such notice;

 
	
  

 	
  

 
	
  

 	
                (iii)
 Securities for which other Securities shall have been authenticated and
 delivered in substitution, or which shall have been paid, pursuant to the
 terms of Section 2.09 (except with respect to any such Security as to which
 proof satisfactory to the Trustee and the Company is presented that such
 Security is held by a Person in whose hands such Security is a legal, valid
 and binding obligation of the Company); and 

 
	
  

 	
  

 
	
  

 	
                (iv)
 Securities discharged pursuant to Section 10.01 or with respect to which the
 Company has effected defeasance and/or covenant defeasance as provided in
 Section 10.02, to the extent such Securities are not reinstated pursuant to
 Section 10.06. 

 

          “Paying Agent” means any Person (which may
include the Company) authorized by the Company to pay the principal of or
interest, if any, on any Security on behalf of the Company. 

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

          “Place of Payment,” when used with respect
to the Securities of any Series, means the place or places where the principal
of and interest, if any, on the Securities of that Series are payable as
specified pursuant to Section 3.02, and initially shall mean the designated
office of the Trustee at which the corporate trust paying agent office of the
Trustee shall, at any particular time, be administered, which office is, at the
date of this Indenture, located at . 

          “Preferred Stock” includes any stock of any
class of the Company that has a preference over Common Stock in respect of
dividends or of amounts payable in the event of any voluntary or involuntary
liquidation, dissolution or winding up of the Company. 

          “Registered Holder,” when used with respect
to a Registered Security, means the Person in whose name such Security is
registered in the Security register. 

          “Registered Security” means any Security
registered in the Security register. 

          “Responsible Officer,” when used with
respect to the Trustee, means any officer within the corporate trust department
(or any successor group) of the Trustee including any vice president, assistant
vice president, assistant secretary, or any other officer or assistant officer
of the Trustee customarily performing functions similar to those performed by
the Persons who at the time shall be such officers, respectively, or to whom
any corporate trust matter is referred at the Corporate Trust Office because of
such Person’s knowledge of and familiarity with the particular subject. 

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

          “Securities” means debentures, notes or
other evidences of indebtedness that have been authenticated and delivered
under this Indenture. 

          “Series” or “Series of Securities” means a series of Securities and, except
in Sections 2.03 and 7.04 and Articles One (“Outstanding”),
Five and Six, a Tranche in the event that the applicable Series may be issued
in separate Tranches. 

          “Subsidiary” means any Person which is
consolidated in the Company’s accounts and any Person of which at least a
majority of the outstanding stock having by the terms thereof ordinary voting
power to elect a majority of the directors (or Persons performing similar
functions) of such Person (irrespective of whether or not at the time stock of
any other class or classes of such Person shall have or might have voting power
by reason of the happening of any 

4

contingency)
is at the time directly or indirectly owned or controlled by the Company, or by
one or more Subsidiaries, or by the Company and one or more Subsidiaries. 

          “Tranche” means all Securities of the same
Series which have the same issue date, maturity date, interest rate or method
of determining interest, and, in the case of Original Issue Discount
Securities, which have the same issue price. 

          “Trustee” means the Person identified as
“Trustee” in the first paragraph hereof and, subject to the provisions of
Article 6, any successor trustee, and if at any time there is more than one
such Person, “Trustee” as used with respect to the Securities of any Series
shall mean the Trustee with respect to Securities of that Series. 

          “Trust Indenture Act of 1939” or “Trust Indenture Act,” except as otherwise
provided in Sections 8.01 and 8.02, means the Trust Indenture Act of 1939, as
amended. 

          “United States” means the United States of
America (together with the District of Columbia), its territories, its
possessions and other areas subject to its jurisdiction. 

          “United States of America” means the fifty
states constituting the United States of America as of the date hereof. 

          “United States Person” means, unless
otherwise specified with respect to any Securities pursuant to Section 2.03, an
individual who is a citizen or resident of the United States, a corporation,
partnership or other entity created or organized in or under the laws of the
United States or an estate or trust the income of which is subject to United
States federal income taxation regardless of its source. 

          “Unregistered Security” means any Security
not registered in the Security register. 

          “Valuation Date” has the meaning specified
in Section 2.12(d). 

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

          “Wholly Owned Subsidiary” means any
Subsidiary in which the Company and/or its other wholly owned Subsidiaries own
all of the outstanding capital stock (other than directors’ qualifying shares).

ARTICLE 2

SECURITIES

          Section
2.01 Forms Generally. The
Securities of each Series and the Coupons, if any, shall be substantially in
such form (not inconsistent with this Indenture) as shall be established by or
pursuant to a Company Board Resolution and set forth in a Company Officers’
Certificate and/or in one or more indentures supplemental hereto, in each case
with such appropriate insertions, omissions, substitutions and other variations
as are required or permitted by this Indenture or any indenture supplemental
hereto (the provisions of which shall be appropriate to reflect the terms of
each Series of Securities, including the currency or denomination, which may be
Dollars or any Foreign Currency) and may have imprinted or otherwise reproduced
thereon such legend or legends, not inconsistent with the provisions of this
Indenture or any indenture supplemental hereto, as may be required to comply
with any law or with any rules or regulations pursuant thereto, or with any
rules of any securities exchange or market or to conform to general usage, all
as may be determined by the officers executing such Securities and Coupons, if
any, as evidenced by their execution of the Securities and Coupons, if any. 

          The
definitive Securities and Coupons, if any, shall be printed, or may be produced
in any other manner, all as determined by the officers of the Company executing
such Securities and Coupons, if any, as evidenced by their execution of such
Securities and Coupons, if any. 

5

          Section
2.02 Form of Trustee’s Certificate of
Authentication. The Trustee’s certificate of authentication on all
Securities shall be in substantially the following form: 

[FORM OF TRUSTEE’S CERTIFICATE OF
AUTHENTICATION]

          This
is one of the Securities of the Series designated herein and referred to in the
within-mentioned Indenture.

	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
 as Trustee

 	
  

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 By

 	
  

 	
  

 
	
  

 	
  

 	
      Authorized
 Signatory

 	
  

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 OR

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 as
 Authentication Agent

 	
  

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 By

 	
  

 	
  

 
	
  

 	
  

 	
      Authorized
 Officer

 	
  

 

          Section
2.03 Amount Unlimited; Issuable in
Series The aggregate principal amount of Securities which may be
authenticated and delivered under this Indenture is unlimited. 

          The
Securities may be issued in one or more Series. There shall be established in
or pursuant to one or more Company Board Resolutions and set forth in a Company
Officers’ Certificate and/or established in one or more indentures supplemental
hereto, prior to the issuance of Securities of any Series: 

               (a)
the title of the Securities of the Series (which title shall distinguish the
Securities of the Series from all other Securities issued by the Company),
including, as applicable, whether the Securities of the Series shall be issued
as senior Securities, senior subordinated Securities or subordinated
Securities; any subordination provisions particular to the Securities of the
Series; and whether the Securities of the Series are convertible or
exchangeable for other securities; 

               (b)
any limit upon the aggregate principal amount of the Securities of the Series
that may be authenticated and delivered under this Indenture (except for
Securities authenticated and delivered upon registration of transfer of, or in
exchange for, or in lieu of, other Securities of the Series pursuant to
Sections 2.08, 2.09, 2.11 or 11.02); 

               (c)
if other than 100% of its aggregate principal amount, the percentage of the
aggregate principal amount at which the Securities of the Series will be
offered; 

               (d)
the date or dates (whether fixed or extendable) on which the principal of the
Securities of the Series is payable; 

               (e)
the rate or rates, which may be fixed or variable, at which the Securities of
the Series shall bear interest, if any, the date or dates from which such
interest shall accrue, the interest payment dates on which such interest shall
be payable, the basis upon which interest shall be calculated if other than
that of a 360-day year consisting of twelve 30-day months and, in the case of
Registered Securities, the record dates for the determination of Holders to
whom interest is payable; 

               (f)
any provisions relating to the issuance of the Securities of the Series at an
Original Issue Discount; 

6

               (g)
the place or places where the principal of and interest on Securities of the
Series shall be payable and where Securities of the Series may be surrendered
for conversion or exchange (if other than as provided in Section 3.02); 

               (h)
whether any of such Securities of the Series are to be redeemable at the option
of the Company, and if so, the price or prices at which, the period or periods
within which and the terms and conditions upon which Securities of the Series
may be so redeemed, in whole or in part, at the option of the Company, pursuant
to any sinking fund or otherwise; 

               (i)
if other than 100% of the aggregate principal amount thereof, the portion of
the principal amount of the Securities of the Series which shall be payable
upon declaration of acceleration of the maturity date thereof pursuant to
Section 5.01 or provable in bankruptcy pursuant to Section 5.02, or, if
applicable, which is convertible or exchangeable; 

               (j)
the obligation, if any, of the Company to redeem, purchase or repay Securities
of the Series pursuant to any sinking fund or analogous provisions or at the
option of a Holder thereof, and the price or prices at which, the Currency in
which and the period or periods within which, and the terms and conditions upon
which, Securities of the Series shall be redeemed, purchased or repaid, in
whole or in part, pursuant to such obligation (including the terms or method of
payment thereof if other than cash), and any provision for the remarketing of
the Securities; 

               (k)
the issuance of Securities of the Series as Registered Securities or
Unregistered Securities or both, and the rights of the Holders to exchange
Unregistered Securities of the Series for Registered Securities of the Series
or to exchange Registered Securities of the Series for Unregistered Securities
of the Series and the circumstances under which any such exchanges, if
permitted, may be made; 

               (l)
if other than denominations of $1,000 and any integral multiple thereof, the
denominations, which may be in Dollars or any Foreign Currency, in which
Securities of the Series shall be issuable; 

               (m)
whether the Securities of the Series will be certificated and, if so, the form
of the Securities (or forms thereof if both Unregistered Securities and
Registered Securities shall be issuable in such Series), including such legends
as required by law or as the Company deems necessary or appropriate, the form
of any Coupons or temporary global security which may be issued and the forms
of any other certificates which may be required hereunder or which the Company
may require in connection with the offering, sale, delivery or exchange of the
Securities; 

               (n)
if other than Dollars, the Currency or Currencies in which payments of
interest, principal and other amounts payable with respect to the Securities of
the Series are to be denominated, payable, redeemable or repurchasable, as the
case may be; 

               (o)
whether Securities of the Series are issuable in Tranches; 

               (p)
the obligations, if any, of the Company to permit the conversion or exchange of
the Securities of such Series into Common Stock, Preferred Stock or other
Capital Stock or property (including securities), or a combination thereof, and
the terms and conditions upon which such conversion shall be effected
(including the initial conversion or exchange price or rate, the conversion or
exchange period, the provisions for conversion or exchange price or rate
adjustments and any other provisions relative to such obligation) and any
limitations on the ownership or transferability of the securities or property
into which the Securities may be converted or exchanged; 

               (q)
if other than the Trustee, any trustees, authenticating or paying agents,
transfer agents or registrars or any other agents with respect to the
Securities of such Series; 

               (r)
if the Securities of the Series do not bear interest, the applicable dates for
purposes of Section 4.01; 

               (s)
any deletions from, modifications of or additions to (a) the Events of Default
with respect to Securities of the Series or (b) the right of the Trustee or the
Holders of such Securities pursuant to Section 5.01; 

7

               (t)
any deletions from, modifications of or additions to the covenants set forth in
Article 3 with respect to Securities of the Series; 

               (u)
if the amount of payments of principal of, and make-whole amount, if any, and
interest on, the Securities of the Series may be determined with reference to
an index, the manner in which such amount shall be determined; 

               (v)
whether the Securities of the Series shall be issued in whole or in part in the
global form of one or more Securities and in such case, (a) the depositary for
such Securities, which depositary must be a clearing agency registered under
the Exchange Act, (b) the circumstances under which any such Securities may be
exchanged for Securities registered in the name of, and under which any
transfer of such Securities may be registered in the name of, any Person other
than such depositary or its nominee, if other than as set forth in Section
2.15, and (c) any other provisions regarding such Securities which provisions
may be in addition to or in lieu of, in whole or in part, the provisions of
Section 2.15; 

               (w)
whether, under what circumstances and the Currency in which, the Company will
pay Additional Amounts as contemplated by Section 3.05 on the Securities of the
Series to any Holder who is not a United States Person (including any
modification to the definition of such term) in respect of any tax, assessment
or governmental charge and, if so, whether the Company will have the option to
redeem such Securities rather than pay such Additional Amounts (and the terms
of any such option); 

               (x)
whether the Securities of the Series, in whole or in specified part, will not
be defeasible pursuant to Section 10.02(b) or Section 10.02(c), or both such
Sections, and, if the Securities may be defeased, in whole or in specified
part, pursuant to either or both such Sections, any provisions to permit a pledge
of obligations other than Government Obligations (or the establishment of other
arrangements) to satisfy the requirements of Section 10.02(d)(i) for defeasance
of the Securities and, if other than by a Company Board Resolution, the manner
in which any election by the Company to defease the Securities will be
evidenced; 

               (y)
whether the Securities of such Series are to be secured by any property, assets
or other collateral and, if so, the applicable collateral, any deletions from,
modifications of or additions to the provisions of Article 13; 

               (z)
the Person to whom any interest on the Securities of such Series will be
payable, if other than the Securityholder thereof, on the regular record date
therefor; 

               (aa)
the dates on which interest, if any, will be payable and the regular record
dates for interest payment dates; 

               (bb)
any restrictions, conditions or requirements for transfer of the Securities of
such Series; and 

               (cc)
any other terms or conditions upon which the Securities of the Series are to be
issued (which terms shall not be inconsistent with the provisions of this
Indenture). 

          All
Securities of any one Series shall be substantially identical except as to
denomination, except as contemplated by the immediately succeeding paragraph,
and except as may otherwise be provided in or pursuant to such Company Board
Resolution or in any such indenture supplemental hereto. All Securities of any
one Series need not be issued at the same time, and unless otherwise provided,
a Series may be reopened, without the consent of the Holders, for issuances of
additional Securities of such Series or to establish additional terms of such
Series of Securities (which additional terms shall only be applicable to
unissued or additional Securities of such Series). 

          Each
Series may be issued in one or more Tranches. All Securities of a Tranche shall
have the same issue date, maturity date, interest rate or method of determining
interest, and, in the case of Original Issue Discount Securities, the same
issue price. 

          Section
2.04 Authentication and Delivery of
Securities. At any time and from time to time after the execution
and delivery of this Indenture, the Company may deliver Securities of any
Series having attached thereto 

8

appropriate
Coupons, if any, executed by the Company to the Trustee for authentication, and
the Trustee shall thereupon authenticate and deliver such Securities to or upon
a Company Order without any further action by the Company. In authenticating
such Securities and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall be entitled to
receive and (subject to Section 6.01) shall be fully protected in relying upon:

               (a)
a Company Board Resolution relating to such Series; 

               (b)
an executed supplemental indenture, if any; 

               (c)
a Company Officers’ Certificate setting forth the form and terms of the Securities
of such Series as required pursuant to Sections 2.01 and 2.03, respectively,
and prepared in accordance with Section 14.05; 

               (d)
at the option of the Company, either an Opinion of Counsel, prepared in
accordance with Section 14.05, or a letter addressed to the Trustee allowing
the Trustee to rely on an Opinion of Counsel, substantially to the effect that:

	
  

 	
  

 
	
  

 	
                (i)
 the form or forms and terms of such Securities and Coupons, if any, have been
 established in or pursuant to a Company Board Resolution or in a supplemental
 indenture as permitted by Sections 2.01 and 2.03, respectively, in conformity
 with the provisions of this Indenture; and 

 
	
  

 	
  

 
	
  

 	
                (ii)
 such Securities and Coupons, if any, have been duly authorized, and, when authenticated
 and delivered by the Trustee and issued by the Company in the manner and
 subject to any conditions specified in such Opinion of Counsel, will
 constitute valid and binding obligations of the Company enforceable in
 accordance with their terms, subject to applicable bankruptcy, insolvency,
 reorganization or other laws relating to or affecting the enforcement of
 creditors’ rights and by general equitable principles, regardless of whether
 such enforceability is considered in a proceeding in equity or at law; 

 

provided, however, that in the case of
any Series issuable in Tranches, if the Trustee has previously received the
applicable documents referred to in clause (a) through (d) above with respect
to such Series, the Trustee shall authenticate and deliver Securities of such
Tranches executed by the Company for original issuance upon receipt by the
Trustee of a notice, executed by an officer of the Company transmitted
electronically by facsimile or otherwise and confirmed in writing to the
Trustee, of the terms of the issuance of such Securities. 

          The
Trustee shall have the right to decline to authenticate and deliver any
Securities under this Section 2.04 if the Trustee, being advised by counsel,
determines that such Securities may not lawfully be issued by the Company. 

          Notwithstanding
the foregoing, if any Security shall have been authenticated and delivered
hereunder but never issued and sold by the Company, and the Company shall
deliver such Security to the Trustee for cancellation as provided in Section
2.10, together with a written statement (which need not comply with Section
14.05 and need not be accompanied by an Opinion of Counsel) stating that such
Security has never been issued and sold by the Company, for all purposes of
this Indenture such Security shall be deemed never to have been authenticated
and delivered hereunder and shall never be entitled to the benefits of this
Indenture. 

          Section
2.05 Execution of
Securities. The Securities shall be signed on behalf of the Company
by both (a) its chief executive officer, president or any vice president and
(b) its treasurer, any assistant treasurer, its secretary or any assistant
secretary, which may, but need not, be attested. Such signatures may be the
manual or facsimile signatures of the present or any future such officers.
Typographical and other minor errors or defects in any such reproduction of any
such signature shall not affect the validity or enforceability of any Security
that has been duly authenticated and delivered by the Trustee. Any Coupons
attached to any Unregistered Security shall be executed on behalf of the
Company by the manual or facsimile signature of any such officer of the
Company. 

          Securities
and Coupons, if any, bearing the manual or facsimile signatures of individuals
who were at any time the proper officers of the Company shall, to the fullest
extent permitted by law, bind the Company, notwithstanding 

9

that such
individuals or any of them have ceased to hold such offices prior to the
authentication and delivery of such Securities or did not hold such offices at
the date of such Securities or Coupons, if any. 

               Section
2.06 Certificate of Authentication.
Only such Securities as shall bear thereon a certificate of authentication
substantially in the form hereinbefore recited, executed by the Trustee by the
manual signature of one of its authorized signatories, shall be entitled to the
benefits of this Indenture or be valid or obligatory for any purpose. Such
certificate by the Trustee upon any Security executed by the Company shall be
conclusive evidence that the Security so authenticated has been duly
authenticated and delivered hereunder and that the Holder is entitled to the
benefits of this Indenture. 

          The
Trustee shall not authenticate or deliver any Unregistered Security until
matured Coupons appertaining thereto have been detached and canceled, except as
otherwise provided or permitted by this Indenture. 

               Section
2.07 Denomination and Date of
Securities; Payments of Interest. The Securities shall be issuable
in denominations as shall be specified as contemplated by Section 2.03. In the
absence of any such specification with respect to the Securities of any Series,
the Securities of such Series shall be issuable in denominations of $1,000 and
any multiple thereof, which may be in Dollars or any Foreign Currency, and
interest shall be computed on the basis of a 360-day year of twelve 30-day
months. The Securities shall be numbered, lettered, or otherwise distinguished
in such manner or in accordance with such plan as the officers of the Company
executing the same may determine with the approval of the Trustee as evidenced
by the execution and authentication thereof. 

          Each
Security shall be dated the date of its authentication, shall bear interest
from the date and shall be payable on the dates, in each case, which shall be
specified as contemplated by Section 2.03. 

          Interest
on any Security which is payable, and is punctually paid or duly provided for,
on any interest payment date shall be paid, in the case of Registered
Securities, to the Person in whose name that Security (or one or more
predecessor Securities) is registered at the close of business on the regular
record date for the payment of such interest and, in the case of Unregistered
Securities, upon surrender of the Coupon appertaining thereto in respect of the
interest due on such interest payment date. 

          The
term “record date,” as used with
respect to any interest payment date (except for a date for payment of
defaulted interest), means the date specified as such in the terms of the
Securities of any particular Series, or, if no such date is so specified, if
such interest payment date is the first day of a calendar month, the close of
business on the fifteenth day of the next preceding calendar month or, if such
interest payment date is the fifteenth day of a calendar month, the close of
business on the first day of such calendar month, whether or not such record
date is a Business Day. 

          Any
interest on any Security of any Series which is payable, but is not punctually
paid or duly provided for, on any interest payment date (called “defaulted interest” for the purpose of this
Section 2.07) shall forthwith cease to be payable to the Registered Holder on
the relevant record date by virtue of his having been such Holder; and such
defaulted interest may be paid by the Company, at its election in each case, as
provided in clause (a) or (b) below: 

                    
(a) The Company may elect to make payment of any defaulted interest to the
Persons in whose names any such Registered Securities (or their respective
predecessor Securities) are registered at the close of business on a special
record date for the payment of such defaulted interest, which shall be fixed in
the following manner. The Company shall notify the Trustee in writing of the
amount of defaulted interest proposed to be paid on each Security of such
Series and the date of the proposed payment, and at the same time the Company
shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such defaulted interest or shall make
arrangements satisfactory to the Trustee for such deposit prior to the date of
the proposed payment; such money, when so deposited, will be held in trust for
the benefit of the Persons entitled to such defaulted interest. Thereupon the
Trustee shall fix a special record date for the payment of such defaulted
interest in respect of Registered Securities of such Series which shall be not
more than 15 nor less than 10 days prior to the date of the proposed payment
and not less than 10 days after the receipt by the Trustee of the notice of the
proposed payment. The Trustee shall promptly notify the Company of such special
record date and, in the name and at the expense of the Company, shall cause
notice of the proposed payment of such defaulted interest and the special
record date 

10

thereof to be
mailed, first class postage prepaid, to each Registered Holder at his address
as it appears in the Security register, not less than 10 days prior to such
special record date. Notice of the proposed payment of such defaulted interest
and the special record date therefor having been mailed as aforesaid, such
defaulted interest in respect of Registered Securities of such Series shall be
paid to the Person in whose names such Securities (or their respective predecessor
Securities) are registered on such special record date and such defaulted
interest shall no longer be payable pursuant to the following clause (b). 

                    (b)
The Company may make payment of any defaulted interest on the Registered Securities
of any Series in any other lawful manner not inconsistent with the requirements
of any securities exchange or market on which the Securities of that Series may
be listed, and upon such notice as may be required by such exchange or market,
if, after notice given by the Company to the Trustee of the proposed payment
pursuant to this clause, such payment shall be deemed practicable by the
Trustee. 

          Any
defaulted interest payable in respect of any Security of any Series which is
not a Registered Security shall be payable pursuant to such procedures as may
be satisfactory to the Trustee in such manner that there is no discrimination
as between the Holders of Registered Securities and other Securities of the
same Series, and notice of the payment date therefor shall be given by the
Trustee, in the name and at the expense of the Company, by publication at least
once in a newspaper of general circulation in New York, New York. 

          Subject
to the foregoing provisions of this Section 2.07, each Security delivered under
this Indenture upon transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest accrued and unpaid, and to accrue,
which were carried by such other Security. 

          In
the case of any Security which is converted into Common Stock or Preferred
Stock after any regular record date and on or prior to the next succeeding
interest payment date (other than any Security whose maturity is prior to such
interest payment date), interest whose stated maturity is on such interest
payment date shall be payable on such interest payment date notwithstanding
such conversion, and such interest (whether or not punctually paid or duly
provided for) shall be paid to the Person in whose name that Security (or one
or more predecessor Securities) is registered at the close of business on such
regular record date. Except as otherwise expressly provided in the immediately
preceding sentence, in the case of any Security which is converted, interest
whose stated maturity is after the date of conversion of such Security shall
not be payable. 

               Section
2.08 Registration, Transfer and Exchange.
The Company will keep or will cause to be kept at the office or agency of the
Trustee to be maintained for the purpose as provided in Section 3.02 a register
or registers in which, subject to such reasonable regulations as it may
prescribe, the Company will provide for the registration and transfer of
Registered Securities as is provided in this Article 2. Such register shall be
in written form in the English language or in any other form capable of being
converted into such form within a reasonable time. At all reasonable times such
register or registers shall be open for inspection by the Trustee. 

          Upon
due presentation for registration of transfer of any Registered Security of any
Series at any such office or agency to be maintained for the purpose as
provided in Section 3.2, the Company shall execute and the Trustee shall
authenticate and deliver in the name of the transferee or transferees a new
Registered Security or Registered Securities of the same Series in authorized
denominations for a like aggregate principal amount. 

          At
the option of the Holder thereof, Unregistered Securities of a Series, which by
their terms are registerable as to principal and interest, may, to the extent
and under the circumstances specified pursuant to Section 2.03, be exchanged
for Registered Securities of such Series, as may be issued by the terms
thereof. At the option of the Holder thereof, Registered Securities of a Series
which by their terms provide for the issuance of Unregistered Securities, may,
to the extent and under the circumstances specified pursuant to Section 2.3, be
exchanged for Unregistered Securities of such Series. Securities so issued in
exchange for other Securities shall be of any authorized denomination and of
like principal amount and maturity date, interest rate or method of determining
interest, and shall be issued upon surrender of the Securities for which they
are to be exchanged and, in the case of Coupon Securities, together with all
unmatured Coupons and matured Coupons in default appertaining thereto, at the
office of the Company provided for in Section 3.02 and upon payment, if the Company
shall require, of charges provided therein. Unregistered Securities of any
Series issued in exchange for Registered Securities of such Series between the
regular record date for such Registered Security and the next interest payment
date will be issued 

11

without the
Coupon relating to such interest payment date, and Unregistered Securities
surrendered in exchange for Registered Securities between such dates shall be
surrendered without the Coupon relating to such interest payment date. Whenever
any Securities are so surrendered for exchange, the Company shall execute, and
the Trustee shall authenticate and deliver, the Securities which the Holder
making the exchange is entitled to receive. Notwithstanding the foregoing, an
Unregistered Security will not be delivered in exchange for a Registered
Security or Securities unless the Trustee receives a certificate signed by the
Person entitled to delivery of such Security or other items or documents
fulfilling such conditions as shall be required by regulations of the United
States Department of the Treasury, or shall be notified by the Company that
such a certificate shall not be required by such regulations; provided, however,
that no such Unregistered Security shall be delivered by the Trustee if the
Trustee or such agent shall have, or shall have been notified in writing by the
Company that the Company has, actual knowledge that such certificate is false. 

          Upon
presentation for registration of any Unregistered Securities of any Series
which by its terms is registerable as to principal, at the office or agency of
the Company to be maintained as provided in Section 3.02, such Security shall
be registered as to principal in the name of the Holder thereof and such
registration shall be noted on such Security. Any Security so registered shall be
transferable on the registry books of the Company upon presentation of such
Security at such office or agency for similar notation thereon, but such
Security may be discharged from registration by being in a like manner
transferred to bearer, whereupon transferability by delivery shall be restored.
Except as otherwise provided pursuant to Section 2.3, Unregistered Securities
shall continue to be subject to successive registrations and discharges from
registration at the option of the Holders thereof. 

          Unregistered
Securities shall be transferable by delivery, except while registered as to
principal. Registration of any Coupon Security shall not affect the
transferability by delivery of the Coupons appertaining thereto which shall
continue to be payable to bearer and transferable by delivery. 

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

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

          No
service charge shall be made for any registration of transfer or exchange of
Securities, but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in connection with any
transfer or exchange of Securities, other than exchanges pursuant to Sections
2.11, 8.05 or 11.02 not involving any transfer. 

          The
Company shall not be required (i) to issue, register the transfer of or
exchange any Security during a period beginning at the opening of business 15
days before the day of mailing of a notice of redemption of Securities for
redemption under Article 11 or (ii) to register the transfer of or exchange any
Security so selected for redemption in whole or in part, except, in the case of
any Security to be redeemed in part, the portion thereof not redeemed. 

               Section
2.09 Mutilated, Defaced, Destroyed, Lost
and Stolen Securities. In case any temporary or definitive Security
or Coupon shall become mutilated or defaced or be destroyed, lost or stolen,
the Company at its own discretion may execute, and upon receipt of a Company
Order, the Trustee shall authenticate and deliver, a new Security of the same
Series or Coupon, bearing a number not contemporaneously outstanding, in
exchange and substitution for the mutilated or defaced Security or Coupon, or
in lieu of and substitution for the Security or Coupon so destroyed, lost or
stolen. In every case, the applicant for a substitute Security or Coupon shall
furnish to the Company, to the Trustee and to any agent of the Company or the
Trustee such security or indemnity as may be required by them to indemnify and
defend and to save each of them harmless and, in every case of destruction,
loss or theft, evidence to their satisfaction of the destruction, loss or theft
of such Security or Coupon and of the ownership thereof. 

12

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

          In
case any Security or Coupon which has matured or is about to mature or has been
called for redemption in full shall become mutilated or defaced or be
destroyed, lost or stolen, the Company may, instead of issuing a substitute
Security or Coupon, pay or authorize the payment of the same (without surrender
thereof except in the case of a mutilated or defaced Security or Coupon); provided,
however, that any such payments in respect of Unregistered Securities or
Coupons shall be subject to the provisions of Section 2.12(c). 

          Every
substitute Security of any Series or Coupon issued pursuant to the provisions
of this Section 2.09 by virtue of the fact that any such Security or Coupon is
destroyed, lost or stolen shall constitute an additional contractual obligation
of the Company, whether or not the destroyed, lost or stolen Security or Coupon
shall be at any time enforceable by anyone and shall be entitled to all the
benefits of (but shall be subject to all the limitations of rights set forth
in) this Indenture equally and proportionately with any and all other
Securities of such Series or Coupons duly authenticated and delivered
hereunder. All Securities or Coupons shall be held and owned upon the express
condition that, to the extent permitted by the law, the foregoing provisions
are exclusive with respect to the replacement or payment of mutilated, defaced,
destroyed, lost or stolen Securities or Coupons and shall preclude any and all
other rights or remedies notwithstanding any law or statute existing or
hereafter enacted to the contrary with respect to the replacement or payment of
negotiable instruments or other securities without their surrender. 

               Section
2.10 Cancellation of Securities.
All Securities surrendered for payment, redemption, registration of transfer,
conversion or exchange, or for credit against any payment in respect of a
sinking or analogous fund and all Coupons surrendered for payment or exchange,
shall, if surrendered to the Company or any agent of the Company or the
Trustee, be delivered to the Trustee for cancellation or, if surrendered to the
Trustee, shall be cancelled promptly by it; and no Securities or Coupons shall
be issued in lieu thereof, except as expressly permitted by any of the
provisions of this Indenture. The Trustee shall dispose of cancelled Securities
in accordance with its customary procedures. If the Company shall acquire any
of the Securities and Coupons, such acquisition shall not operate as a
redemption or satisfaction of the indebtedness represented by such Securities
and Coupons unless and until the same are delivered to the Trustee for
cancellation. 

               Section
2.11 Temporary Securities.
Pending the preparation of definitive Securities for any Series, the Company
may execute and the Trustee shall authenticate and deliver temporary Securities
for such Series (printed, lithographed, typewritten or otherwise reproduced, in
each case in form satisfactory to the Trustee). Temporary Securities of any
Series may be issued as Registered Securities or Unregistered Securities with
or without Coupons attached thereto, of any authorized denomination, and
substantially in the form of the definitive Securities of such Series but with
such omissions, insertions and variations as may be appropriate for temporary
Securities, all as may be determined by the Company with the concurrence of the
Trustee. Temporary Securities may contain such reference to any provisions of
this Indenture as may be appropriate. Every temporary Security shall be
executed by the Company and be authenticated by the Trustee upon the same
conditions and in substantially the same manner, and with like effect, as the
definitive Securities. Without unreasonable delay the Company shall execute and
shall furnish definitive Securities of such Series and thereupon temporary
Securities of such Series may be surrendered in exchange therefor without
charge at each office or agency to be maintained by the Company for that
purpose pursuant to Section 3.02, and the Trustee shall authenticate and
deliver in exchange for such temporary Securities of such Series a like
aggregate principal amount of definitive Securities of the same Series of
authorized denominations and, in the case of Unregistered Securities, having
attached thereto any appropriate Coupons. Until so exchanged, the temporary
Securities of any Series shall be entitled to the same benefits under this Indenture
as definitive Securities of such Series. 

               Section
2.12 Currency
and Manner of Payments in Respect of Securities. 

                    (a)
With respect to Registered Securities of any Series with respect to which the
Holders of such Securities have not made the election provided for in
subsection (b) of this Section 2.12, the following payment provisions shall
apply: 

13

                              (i)
Except as provided in subsection (a)(ii) or subsection (e) of this Section 2.12,
payment of the principal of any Registered Security will be made at the Place
of Payment by delivery of a check in the Currency in which the Security is
denominated on the payment date against surrender of such Registered Security,
or, if the Securities are global securities, in accordance with the procedures
of the applicable clearing agency pursuant to Section 2.15, and any interest on
any Registered Security will be paid at the Place of Payment by mailing a check
in the Currency in which the Securities were issued to the Person entitled
thereto at the address of such Person appearing on the Security register. 

                              (ii)
Payment of the principal of and interest on such Security may also, subject to
applicable laws and regulations, be made at such other place or places as may
be designated by the Company by any appropriate method. 

                    (b)
With respect to Registered Securities of any Series, the following payment
provisions shall apply, except as otherwise provided in subsections (e) and (f)
of this Section 2.12 : 

                              (i)
The Company Board of Directors may provide with respect to any Series of such
Securities that Holders shall have the option to receive payments of principal
of and interest on such Security in any of the Currencies which may be
designated for such election in such Security (or, if no such Currencies are
designated, in the Currency in which the Securities of such Series are
denominated) by delivering to the Trustee a written election, to be in
substantially the form included with the applicable form of Securities as shall
be established pursuant to Section 2.01, not later than the close of business
on the record date immediately preceding the applicable payment date. Such election
will remain in effect for such Holder until changed by the Holder by written
notice to the Trustee (but any such change must be made not later than the
close of business on the record date immediately preceding the next payment
date to be effective for the payment to be made on such payment date and no
such change may be made with respect to payments to be made on any Security
with respect to which notice of redemption has been given by the Company
pursuant to Article 11) . Any Holder of any such Security who shall not have
delivered any such election to the Trustee by the close of business on the
applicable record date will be paid the amount due on the applicable payment
date in the relevant Currency as provided in subsection (a) of this Section 2.12.
Payment of principal shall be made on the payment date against surrender of
such Securities. Payment of principal and interest shall be made at the Place
of Payment by mailing a check in the applicable Currency to the Person entitled
thereto at the address of such Person appearing on the Security register. 

                              (ii)
Payment of the principal of and interest on such Security may also, subject to
applicable laws and regulations, be made at such other place or places as may
be designated by the Company by any appropriate method. 

                    
(c) Payment of the principal of any Unregistered Security and of interest on
any Coupon Security will be made at such place or places outside the United
States of America as may be designated by the Company by any appropriate method
only in the Currency in which the Security is payable (except as provided in
subsection (e) of this Section 2.12) on the payment date against surrender of
the Unregistered Security, in the case of payment of principal, or the relevant
Coupon, in the case of payment of interest. Except as provided in subsection
(e) of this Section 2.12, payment with respect to Unregistered Securities and
Coupons will be made by check, subject to any limitations on the methods of effecting
such payment as shall be specified in the terms of the Security established as
provided in Section 2.3 and as shall be required under applicable laws and
regulations. Payment of the principal of and interest on Unregistered
Securities may also, subject to applicable laws and regulations, be made at
such other place or places as may be designated by the Company by any
appropriate method. 

                    (d)
Not later than the fourth Business Day after the record date for each payment
date, the Trustee will deliver to the Company a written notice specifying, in
the Currency in which each Series of Securities are denominated, the respective
aggregate amounts of principal of and interest on the Securities to be made on
such payment date, specifying the amounts so payable in respect of the
Registered and the Unregistered Securities and in respect of the Registered
Securities as to which the Holders shall have elected to be paid in another
Currency as provided in subsection (b) of this Section 2.12. If the Company
Board of Directors has provided for the election referred to in subsection (b)
of this Section 2.12 with respect to Registered Securities and if at least one
Holder of such Registered Securities has made such election, then not later
than the second Business Day preceding the

14

 applicable payment date the Company will
deliver to the Trustee an Exchange Rate Officer’s Certificate in respect of
such payment date. The Dollar or Foreign Currency amount receivable by Holders
of Registered Securities who have elected payment in another Currency as
provided in subsection (b) of this Section 2.12 shall be determined by the
Company on the basis of the applicable Market Exchange Rate in effect on the
second Business Day (the “Valuation Date”)
prior to such payment date and set forth in the applicable Exchange Rate
Officer’s Certificate. For purposes of this Section 2.12 and Section 6.02(a), “Exchange Rate Officer’s Certificate” means,
with respect to any payment date in respect of Registered Securities as to
which the Company Board of Directors has provided for the election referred to
in subsection (b) of this Section 2.12 and at least one Holder of such
Registered Securities has made such election, a certificate setting forth (i)
the applicable Market Exchange Rate to Holders of such Registered Securities
who had elected payment in a Currency other than the Currency in which such
Registered Securities are denominated as determined by the Company and (ii) the
Dollar or Foreign Currency amounts payable for the Valuation Date with respect
to such payment date on the basis of such Market Exchange Rate or quotation in
respect of the principal of and interest on the applicable Series of Registered
Securities, signed by the treasurer or any assistant treasurer of the Company,
and delivered to the Trustee. For purposes of this Section 2.12 and Section
14.11, “Market Exchange Rate”
means for any Currency as of a particular date, the noon Dollar buying rate for
such Currency for cable transfers quoted in New York City on such date as
certified for customs purposes by the Federal Reserve Bank of New York; provided,
however, that if such rate is not available for any reason on such date,
the Currency Determination Agent shall determine the Market Exchange Rate for the
particular date, in its sole discretion and without liability on its part,
based on such quotation of the Federal Reserve Bank of New York as of the most
recent available date, or quotations from one or more major banks in New York
City or in the country of issue of the currency in question, or such other
quotations as the Currency Determination Agent shall deem appropriate. Unless
otherwise specified by the Currency Determination Agent, if there is more than
one market for dealing in any Currency by reason of foreign exchange
regulations or otherwise, the market to be used in respect of such Currency
shall be that upon which a nonresident issuer of securities designated in such
Currency would purchase such Currency in order to make payments in respect of
such securities. 

                    (e)
If a Conversion Event occurs with respect to a Foreign Currency in which any of
the Securities are denominated or payable, then with respect to each date for
the payment of principal of and interest on such Securities occurring after the
last date on which the Foreign Currency was so used (the “Conversion Date”), the Dollar shall be the
Currency of payment for use on each such payment date. The Dollar amount to be
paid by the Company to the Trustee and by the Trustee or any Paying Agent to
the Holders of such Securities with respect to such payment date shall be the
Dollar Equivalent of the Foreign Currency as determined by the Currency
Determination Agent in the manner provided in subsection (g) of this Section 2.12.

                    
(f) If the Holder of a Registered Security elects payment in a specified
Currency as provided for by subsection (b) of this Section 2.12 and a
Conversion Event occurs with respect to such elected Currency, such Holder
shall receive payment in the Currency in which payment would have been made in
the absence of such election; and if a Conversion Event occurs with respect to
the Currency in which payment would have been made in the absence of such
election, such Holder shall receive payment in Dollars in the Dollar Equivalent
of the Foreign Currency as determined by the Currency Determination Agent in
the manner provided in subsection (g) of this Section 2.12. 

                    (g)
The “Dollar Equivalent of the Foreign
Currency” shall be determined by the Currency Determination Agent as
of each Valuation Date and shall be obtained by converting the applicable
Foreign Currency into Dollars at the Market Exchange Rate on the Conversion
Date. 

                    (h)
All decisions and determinations of the Currency Determination Agent regarding
the Dollar Equivalent of the Foreign Currency and the Market Exchange Rate as
specified above shall be in its sole discretion and shall, in the absence of
manifest error, be conclusive for all purposes and irrevocably binding upon the
Company, the Trustee and all Holders of the applicable Securities. 

                    (i)
In the event that a Conversion Event has occurred with respect to a Foreign
Currency, the Company, after learning thereof, will immediately give notice
thereof to the Trustee (and the Trustee will promptly thereafter give notice on
behalf of the Company in the manner provided in Section 14.04 to the affected
Holders) specifying the Conversion Date. 

15

                    (j)
The Trustee shall be fully justified and protected in relying on and acting
upon the information so received by it from the Company and the Currency
Determination Agent and shall not otherwise have any duty or obligation to
determine such information independently. 

               Section
2.13 Compliance with Certain Laws and
Regulations. If any Unregistered Securities or Coupon Securities are
to be issued in any Series of Securities, the Company will use reasonable
efforts to provide for arrangements and procedures designed pursuant to then
applicable laws and regulations, if any, to ensure that Unregistered Securities
or Coupon Securities are sold or resold, exchanged, transferred and paid only
in compliance with such laws and regulations and without adverse consequences
to the Company. 

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

               Section
2.15 Securities in Global Form.
Unless otherwise provided in or pursuant to this Indenture or any Securities,
the Securities shall be issuable in temporary or permanent global form. If
Securities of or within a Series are issuable in whole or in part in global
form, any such Security may provide that it shall represent the aggregate
amount of Outstanding Securities of such Series (or such lesser amount as is
permitted by the terms thereof) from time to time endorsed thereon and may also
provide that the aggregate amount of Outstanding Securities represented thereby
may from time to time be reduced or increased to reflect exchanges. Any
endorsement of a Security in global form to reflect the amount, or any increase
or decrease in the amount, or changes in the rights of Holders, of Outstanding
Securities represented thereby, shall be made in such manner and by such Person
or Persons as shall be specified therein or in the Company Order to be
delivered to the Trustee pursuant to Section 2.04. Subject to the provisions of
Section 2.04 and, if applicable, Section 2.11, the Trustee shall deliver and
redeliver any Security in permanent global form in the manner and upon
instructions given by the Person or Persons specified therein or in the
applicable Company Order, if any. Any instructions by the Company with respect
to endorsement or delivery or redelivery of a Security in global form shall be
in writing but need not comply with Section 14.05 and need not be accompanied
by an Opinion of Counsel. 

          The
provisions of the last paragraph of Section 2.04 shall apply to any Security in
global form if such Security was never issued and sold by the Company and the
Company delivers to the Trustee the Security in global form together with
written instructions (which need not comply with Section 14.05 and need not be
accompanied by an Opinion of Counsel) with regard to the reduction in the
principal amount of Securities represented thereby, together with the written
statement contemplated by the last paragraph of Section 2.04. 

          Notwithstanding
the provisions of Section 3.01, unless otherwise specified as contemplated by
Section 2.04, payment of principal of and interest on any Security in permanent
global form shall be made to the Person or Persons specified in such Security. 

          Neither
the Company nor the Trustee shall have any responsibility or obligation to any
Person claiming a beneficial ownership interest in the Securities under or
through any clearing agency or any other Person which is not shown on the
Security register as being a Registered Holder with respect to either the
Securities, the accuracy of any records maintained by any such clearing agency,
the payment by any such clearing agency or its participants of any amount in
respect of the principal of or interest on the Securities, any notice which is
permitted or required to be given under the Indenture, any consent given or
other action taken by such clearing agency as Registered Holder, or any
selection by such clearing agency of any Person to receive payment of
principal, interest or other amounts payable on the Securities. 

               Section
2.16 Form of Conversion Notice.
The form of any conversion notice for the conversion of Securities into shares
of Common Stock, Preferred Stock or other securities of the Company shall be in
substantially the form included with the applicable form of Securities as shall
be established pursuant to Section 2.01. 

16

ARTICLE 3

COVENANTS OF THE ISSUER

               Section
3.01 Payment of Principal and Interest.
The Company covenants and agrees for the benefit of each Series of Securities
that it will duly and punctually pay or cause to be paid (in the currency in
which the Securities of such Series and Coupons, if any, are payable, except as
otherwise provided pursuant to Section 2.03 for the Securities of such Series
and except as provided in Section 2.12(b), (e) and (f)) the principal of, and
interest on, each of the Securities of such Series in accordance with the terms
of the Securities of such Series, any Coupons appertaining thereto and this
Indenture. 

          The
interest on Unregistered Securities shall be payable only upon presentation and
surrender of the several Coupons for such interest installments as are
evidenced thereby as they severally mature at the office of a Paying Agent
outside the United States of America. The interest on any temporary
Unregistered Security shall be paid, as to any installment of interest
evidenced by a Coupon attached thereto, if any, only upon presentation and
surrender of such Coupon, and, as to the other installments of interest, if
any, only upon presentation of such Securities for notation thereon of the
payment of such interest. 

               Section
3.02 Offices for Payment, etc. So long as any of the Securities remain Outstanding,
the Company will maintain the following for each Series: an office or agency
(a) where the Securities may be presented for payment, (b) where the Securities
may be presented for registration of transfer and for exchange as in this
Indenture provided, and (c) where notices and demands to or upon the Company in
respect of the Securities or of this Indenture may be served. The Company will
give to the Trustee written notice of the location of any such office or agency
and of any change of location thereof. In case the Company shall fail to so
designate or maintain any such office or agency or shall fail to give such
notice of the location or of any change in the location thereof, presentations
and demands may be made at the Place of Payment and notices may be served at
the Corporate Trust Office. Unless otherwise specified pursuant to Section
2.03, the Trustee is appointed Paying Agent and Registrar. 

          So
long as any Coupon Securities or Unregistered Securities of any Series remain
Outstanding, the Company will (except as specified pursuant to Section 2.03)
maintain one or more offices or agencies outside the United States of America
in such city or cities as may be specified elsewhere in this Indenture or as
contemplated by Section 2.03, and shall maintain such office or offices for a
period of two years (or any period thereafter for which it is necessary in
order to conform to United States tax laws or regulations) after the principal
on such Coupon Securities or Unregistered Securities has become due and
payable, with respect to such Series where Coupons appertaining to Securities
of such Series or Unregistered Securities of such Series may be surrendered or
presented for payment, or surrendered for exchange pursuant to Section 2.08 and
where notices and demands to or upon the Company in respect of Coupons
appertaining to Securities of such Series or the Unregistered Securities of
such Series or of this Indenture may be served. The Company will give prompt
written notice to the Trustee of the location, and any change in the location,
of any such office or agency. If at any time the Company shall fail to maintain
such required office or agency or shall fail to furnish the Trustee with the
address thereof, presentations, surrenders and demands in respect of
Unregistered Securities may be made or served at the Place of Payment and
notice may be served at the Corporate Trust Office and the corporate trust
office of any authenticating agent appointed, and presentations, surrenders,
notices and demands in respect of Coupons appertaining to Securities of any
Series and Unregistered Securities may be made or served at the corporate trust
office of the Trustee in the other city or cities referred to above; and the
Company hereby appoints the Trustee and any authenticating agent appointed
hereunder as its agents to receive all such presentations, surrenders, notices
and demands. 

               Section
3.03 Appointment to Fill a Vacancy in
Office of Trustee. The Company, whenever necessary to avoid or fill
a vacancy in the office of Trustee, will appoint, in the manner provided in
Section 6.10, a Trustee, so that there shall at all times be a Trustee with
respect to each Series of Securities hereunder. 

               Section
3.04 Paying Agents. Whenever
the Company shall appoint a Paying Agent other than the Trustee with respect to
the Securities of any Series, it will cause such Paying Agent to execute and
deliver to the Trustee an instrument in which such Paying Agent shall agree
with the Trustee, subject to the provisions of this Section 3.04: 

17

                    (a)
that it will hold all sums received by it as such Paying Agent for the payment
of the principal of or interest on the Securities of such Series or Coupons
(whether such sums have been paid to it by the Company or other obligor on the
Securities of such Series or Coupons) in trust for the benefit of the Holders
of the Securities of such Series or Coupons or of the Trustee, and upon the
occurrence of an Event of Default and upon the written request of the Trustee,
pay over all such sums received by it to the Trustee; 

                    (b)
that it will give the Trustee notice of any failure by the Company (or by any
other obligor on the Securities of such Series) to make any payment of the
principal of or interest on the Securities of such Series or Coupons when the
same shall be due and payable; and 

                    (c)
that it will give the Trustee notice of any change of address of any Holder of
which it is aware. 

          The
Company will, on or prior to each due date of the principal of or interest on
the Securities of such Series or Coupons, deposit with the Paying Agent a sum
sufficient to pay such principal or interest so becoming due, and (unless such
Paying Agent is the Trustee) the Company will promptly notify the Trustee of
any failure to take such action. 

          If
the Company shall act as its own Paying Agent with respect to the Securities of
any Series or Coupons, it will, on or before each due date of the principal of
or interest on the Securities of such Series or Coupons, set aside, segregate
and hold in trust for the benefit of the Holders of the Securities of such
Series or Holders of such Coupons a sum sufficient to pay such principal or
interest so becoming due. The Company will promptly notify the Trustee of any
failure to take such action. 

          Anything
in this Section 3.04 to the contrary notwithstanding, the Company may at any
time, for the purpose of obtaining a satisfaction and discharge with respect to
one or more or all Series of Securities or Coupons hereunder, or for any other
reason, pay or cause to be paid to the Trustee all sums held in trust for any
such Series by the Company or any Paying Agent hereunder, as required by this
Section 3.04, such sums to be held by the Trustee upon the trusts herein
contained. 

          Anything
in this Section 3.04 to the contrary notwithstanding, the agreement to hold
sums in trust as provided in this Section 3.04 is subject to the provisions of
Sections 10.04 and 10.05. 

               Section
3.05 Additional Amounts. If
Securities of a Series provide for the payment of additional amounts to any
Holder who is not a United States Person in respect of any tax, assessment or
governmental charge (“Additional Amounts”),
the Company will pay to the Holder of any Security of such Series or any Coupon
appertaining thereto such Additional Amounts as may be so provided by Section
2.03. Whenever in this Indenture there is mentioned, in any context, the
payment of the principal of or interest on, or in respect of, any Security of a
Series or payment of any related Coupon or the net proceeds received on the
sale or exchange of a Security of a Series, such mention shall be deemed to
include mention of the payment of Additional Amounts provided for by the terms
of such Series established pursuant to Section 2.03 to the extent that, in such
context, Additional Amounts are, were or would be payable in respect thereof
pursuant to such terms and express mention of the payment of Additional Amounts
(if applicable) in any provisions shall not be construed as excluding
Additional Amounts in those provisions where such express mention is not made. 

          Except
as otherwise specified pursuant to Section 2.03, if the Securities of a Series
provide for the payment of Additional Amounts, at least 10 days prior to each
date of payment of principal or interest on which any Additional Amount shall
be payable, the Company will furnish the Trustee and the Company’s principal
Paying Agent or Paying Agents, if other than the Trustee, with a Company
Officers’ Certificate instructing the Trustee and such Paying Agent or Paying
Agents whether such payment of principal of or interest on the Securities of
that Series shall be made to Holders of Securities of that Series or any
related Coupons who are not United States Persons without withholding for or on
account of any tax, assessment or other governmental charge described in the Securities
of that Series. If any such withholding shall be required, then such Company
Officers’ Certificate shall specify by country the amount, if any, required to
be withheld on such payments to such Holders of Securities of that Series or
related Coupons and the Company will pay to the Trustee or such Paying Agent
the Additional Amounts required by the terms of such Securities. The Company
covenants to indemnify the Trustee and any Paying Agent for, and to hold them
harmless against, any loss, liability or expense reasonably incurred without
negligence or bad faith on their

18

 part arising out of or in connection with
actions taken or omitted by any of them in reliance on any Company Officers’
Certificate furnished pursuant to this Section 3.05 or in the event the Trustee
shall not withhold or deduct any sums as a result of not receiving a Company
Officers’ Certificate pursuant to this Section 3.05. 

               Section
3.06 Calculation of Original Issue
Discount. The Company shall promptly, at the end of each calendar
year, calculate the Original Issue Discount accrued on Outstanding Securities
as of the end of such year and shall determine whether the amount of Original
Issue Discount qualifies for the de minimis exception rule as set forth in
Section 1273(a)(3) of the Internal Revenue Code of 1986, as amended from time
to time, and the Treasury Regulations promulgated thereunder. If such
calculated amount does not qualify for the de minimis exception rule, then the
Company shall subsequently file with the Trustee no later than January 15th of
each calendar year (a) a written notice specifying the amount of Original Issue
Discount (including daily rates and accrual periods) accrued on Outstanding
Securities as of the end of such year and (b) such other specific information
relating to such Original Issue Discount as may then be relevant under the
Internal Revenue Code of 1986, as amended from time to time, and the Treasury
Regulations promulgated thereunder. 

ARTICLE 4

SECURITYHOLDERS’ LISTS AND REPORTS BY THE
ISSUER AND THE TRUSTEE

               Section
4.01 Company to Furnish Trustee
Information as to Names and Addresses of Securityholders. The
Company covenants and agrees that it will furnish or cause to be furnished to
the Trustee for the Securities of each Series a list in such form as the
Trustee may reasonably require of the names and addresses of the Holders of the
Registered Securities of each Series: 

                    (a)
semiannually and not more than 15 days after each record date for the payment
of interest on such Securities, as hereinabove specified, as of such record
date, and on dates to be determined pursuant to Section 2.03 for non-interest
bearing securities in each year; and 

                    (b)
at such other times as the Trustee may request in writing, within 30 days after
receipt by the Company of any such request, and such list shall be as of a date
not more than 15 days prior to the time such information is furnished; 

provided that, if and so long as the Trustee
shall be the Security registrar for such Series, such list shall not be
required to be furnished but in any event the Company shall be required to
furnish such information concerning the Holders of Coupon Securities and
Unregistered Securities which is known to it; provided, further,
that the Company shall have no obligation to investigate any matter relating to
any Holder of an Unregistered Security or any Holder of a Coupon. 

               Section
4.02 Preservation
and Disclosure of Securityholders’ Lists. 

                    (a)
The Trustee for the Securities of each Series shall preserve, in as current a
form as is reasonably practicable, all information as to the names and
addresses of the Holders of each Series of Securities contained in the most
recent list furnished to it as provided in Section 4.01 or maintained by the
Trustee in its capacity as Security registrar for such Series, if so acting.
The Trustee may destroy any list furnished to it as provided in Section 4.01
upon receipt of a new list so furnished. 

                    (b)
In case three or more Holders of Registered Securities of any Series
(hereinafter referred to as “applicants”)
apply in writing to the Trustee and furnish to the Trustee reasonable proof
that each such applicant has owned a Security for a period of at least six
months preceding the date of such application, and such application states that
the applicants desire to communicate with other Holders of Securities of a
particular Series (in which case the applicants must all hold Securities of
such Series) or with Holders of all Securities with respect to their rights
under this Indenture or under such Securities and such application is
accompanied by a copy of the form of proxy or other communication which such
applicants propose to transmit, then the Trustee shall, within five Business
Days after the receipt of such application, at its election, either: 

19

                              (i)
afford to such applicants access to the information preserved at the time by
the Trustee in accordance with the provisions of subsection (a) of this Section
4.02, or 

                              (ii)
inform such applicants as to the approximate number of Holders of Securities of
such Series or all Securities, as the case may be, whose names and addresses
appear in the information preserved at the time by the Trustee, in accordance
with the provisions of subsection (a) of this Section 4.2, and as to the
approximate cost of mailing to such Securityholders the form of proxy or other
communication, if any, specified in such application. 

          If
the Trustee shall elect not to afford to such applicants access to such
information, the Trustee shall, upon the written request of such applicants,
mail to each Securityholder of such Series or all Securities, as the case may
be, whose name and address appear in the information preserved at the time by
the Trustee in accordance with the provisions of subsection (a) of this Section
4.02, a copy of the form of proxy or other communication which is specified in
such request, with reasonable promptness after a tender to the Trustee of the
material to be mailed and of payment, or provision for the payment, of the
reasonable expenses of mailing, unless within five days after such tender, the
Trustee shall mail to such applicants and file with the Commission together
with a copy of the material to be mailed, a written statement to the effect
that, in the opinion of the Trustee, such mailing would be contrary to the best
interests of the Holders of Securities of such Series or all Securities, as the
case may be, or could be in violation of applicable law. Such written statement
shall specify the basis of such opinion. If the Commission, after opportunity
for a hearing upon the objections specified in the written statement so filed,
shall enter an order refusing to sustain any of such objections or if, after
the entry of such order sustaining one or more of such objections, the
Commission shall find, after notice and opportunity for hearing, that all the
objections so sustained have been met, and shall enter an order so declaring,
the Trustee shall mail copies of such material to all such Securityholders with
reasonable promptness after the entry of such order and the renewal of such
tender; otherwise the Trustee shall be relieved of any obligation or duty to
such applicants respecting their application. 

                    (c)
Each and every Holder of Securities, by receiving and holding the same, agrees
with the Company and the Trustee that none of the Company, the Trustee or any
agent of the Company or the Trustee shall be held accountable by reason of the
disclosure of any such information as to the names and addresses of the Holders
of Securities in accordance with the provisions of subsection (b) of this
Section 4.02, regardless of the source from which such information was derived,
and that the Trustee shall not be held accountable by reason of mailing any
material pursuant to a request made under such subsection (b). 

               Section
4.03 Reports
by the Company. 

                    (a)
The Company covenants to: 

                              (i)
file with the Trustee for the Securities of each Series, within 15 days after
the Company is required to file the same with the Commission (giving effect to
any extensions thereof), copies of the annual reports and of the information,
documents and other reports (or copies of such portions of any of the foregoing
as the Commission may from time to time by rules and regulations prescribe)
which the Company may be required to file with the Commission pursuant to
Section 13 or Section 15(d) of the Exchange Act, or if the Company is not
required to file information, documents or reports pursuant to either of such
Sections, then to file with the Trustee and the Commission, in accordance with
rules and regulations prescribed from time to time by the Commission, such of
the supplementary and periodic information, documents, and reports which may be
required pursuant to Section 13 of the Exchange Act, or in respect of a security
listed and registered on a national securities exchange as may be prescribed
from time to time in such rules and regulations; 

                              (ii)
file with the Trustee and the Commission, in accordance with rules and
regulations prescribed from time to time by the Commission, such additional
information, documents and reports with respect to compliance by the Company
with the conditions and covenants provided for in this Indenture as may be
required from time to time by such rules and regulations; 

                              (iii)
transmit by mail to the Holders of Registered Securities in the manner and to
the extent required by Sections 4.04(a) and 14.04, within 30 days after the
filing thereof with the Trustee, such summaries of any information, documents
and reports required to be filed by the Company pursuant to 

20

subsections
(a)(i) and (a)(ii) of this Section 4.03 as may be required to be transmitted to
such Holders by rules and regulations prescribed from time to time by the Commission;
provided that any such information, documents or reports filed or
furnished with the Commission pursuant to its Electronic Data Gathering,
Analysis and Retrieval (or EDGAR) system shall be deemed to be filed with the
Trustee and Holders as of the time such information, documents or reports are
filed or furnished by EDGAR; and 

                              
(iv) furnish to the Trustee, not less often than annually on or before a date
not more than four months after the end of each of its fiscal years ending
after the date hereof, a brief certificate from the principal executive
officer, principal financial officer or principal accounting officer of the
Company as to his or her knowledge of the Company’s compliance with all
conditions and covenants under this Indenture. For purposes of this subsection
(a)(iv), such compliance shall be determined without regard to any period of
grace or requirement of notice provided under this Indenture. 

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

               Section
4.04 Reports
by the Trustee. 

                    (a)
The Trustee shall transmit to Holders such reports concerning the Trustee and
its actions under this Indenture as may be required pursuant to the Trust
Indenture Act at the times and in the manner provided pursuant thereto. If
required by Section 313(a) of the Trust Indenture Act, the Trustee shall,
within 60 days after each May 15 following the date of this Indenture deliver
to Holders a brief report, dated as of such May 15, which complies with the
provisions of such Section 313(a). 

                    (b)
A copy of each such report shall, at the time of such transmission to Holders,
be filed by the Trustee with each stock exchange, if any, upon which the
Securities are listed, with the Commission and with the Company. The Company
will promptly notify the Trustee when the Securities are listed on any stock
exchange or market and of any delisting thereof. 

ARTICLE 5

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS

ON EVENT OF DEFAULT

               Section
5.01 Event of Default Defined;
Acceleration of Maturity; Waiver of Default. In case one or more of
the following Events of Default (unless it is either inapplicable to a
particular Series or it is specifically deleted from or modified in the
indenture supplement, the Company Board Resolution or other instrument
establishing such Series and the form of Security for such Series) shall have
occurred and be continuing with respect to any Series of Securities, that is to
say: 

                    (a)
default in the payment of any installment of interest upon any Security of such
Series as and when the same shall become due and payable, and continuance of
such default for a period of 30 days; or 

                    (b)
default in the payment of the principal of the Securities of such Series as and
when the same shall become due and payable either at maturity, upon redemption
(for any sinking fund payment or otherwise), by declaration or otherwise; or 

                    (c)
failure on the part of the Company duly to observe or perform any other of the
covenants or agreements on the part of the Company in the Securities of such
Series, or in this Indenture contained and relating to such Series, for a
period of 90 days after the date on which written notice specifying such
failure and requiring the Company to remedy the same and stating that such
notice is a “Notice of Default”
hereunder shall have been given by registered or certified mail to the Company
by the Trustee for the Securities of such Series, or to the Company

21

 and the Trustee by the Holders of not less
than 25% in aggregate principal amount at maturity of the Securities of such
Series then Outstanding; or 

                    
(d) the Company shall make an assignment for the benefit of creditors, or shall
file a petition in bankruptcy; or the Company shall be adjudicated insolvent or
bankrupt, or shall petition or shall apply to any court having jurisdiction in
the premises for the appointment of a receiver, trustee, liquidator or
sequestrator of, or for, the Company or any substantial portion of the property
of the Company; or the Company shall commence any proceeding relating to the
Company or any substantial portion of the property of the Company under any
insolvency, reorganization, arrangement or readjustment of debt, dissolution,
winding-up, adjustment, composition or liquidation law or statute of any
jurisdiction, whether now or hereafter in effect (hereinafter in this clause
(d) called “Proceeding”); or if
there shall be commenced against the Company any Proceeding and an order
approving the petition shall be entered, or such Proceeding shall remain
undischarged or unstayed for a period of 90 days; or a receiver, trustee,
liquidator or sequestrator of, or for, the Company or any substantial portion
of the property of the Company shall be appointed and shall not be discharged
or unstayed within a period of 90 days; or the Company by any act shall
indicate consent to or approval of or acquiescence in any Proceeding or the
appointment of a receiver, trustee, liquidator or sequestrator of, or for, the
Company or any substantial portion of the property of the Company; provided
that a resolution or order for winding-up the Company with a view to its
consolidation, amalgamation or merger with another entity or the transfer of
its assets as a whole, or substantially as a whole, to such other entity as
provided in Section 9.01 shall not make the rights and remedies herein
enforceable under this clause (d) if such last-mentioned entity shall, as a
part of such consolidation, amalgamation, merger or transfer, and within 90
days from the passing of the resolution or the date of the order, comply with
the conditions to that end stated in Section 9.01; or 

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

then and in
each and every such case (other than an Event of Default under clause (d)
above), so long as such Event of Default with respect to such Series shall not
have been remedied or waived, unless the principal of all Securities of such
Series shall have already become due and payable, either the Trustee for such
Series or the Holders of not less than 25% in aggregate principal amount at
maturity of the Securities of such Series then Outstanding hereunder, by notice
in writing to the Company (and to the Trustee if given by such Holders), may
declare the principal (or, in the case of Original Issue Discount Securities,
such principal amount as may be determined in accordance with the terms thereof)
of all the Securities of such Series to be due and payable immediately, and
upon any such declaration the same shall become and shall be immediately due
and payable, anything in this Indenture or in the Securities of such Series
contained to the contrary notwithstanding. With respect to an Event of Default
described under clause (d) above, the principal of all Securities of such
Series shall become immediately due and payable without any declaration or
other act by the Trustee or the Holders. This provision, however, is subject to
the condition that if at any time after the principal of the Securities of such
Series (or, in the case of Original Issue Discount Securities, such principal
amount as may be determined in accordance with the terms thereof) shall have
been so declared due and payable, and before any judgment or decree for the
payment of the moneys due shall have been obtained or entered as hereinafter
provided, the Company shall pay or shall deposit with the Trustee a sum
sufficient to pay in the Currency in which the Securities of such Series are
payable (except as otherwise provided pursuant to Section 2.03 for the
Securities of such Series and except as provided in Section 2.12(b), (e) and
(f)) all matured installments of interest, if any, upon all the Securities of
such Series and the principal of any and all Securities of such Series which
shall have become due otherwise than by such acceleration (with interest upon
such principal and, to the extent that payment of such interest is enforceable
under applicable law, upon overdue installments of interest, at the rate borne
by the Securities of such Series (or, in the case of Original Issue Discount
Securities, at the yield to maturity) to the date of such payment or deposit)
and in Dollars such amount as shall be sufficient to cover reasonable
compensation to the Trustee, its agents, attorneys and counsel and all other
expenses and liabilities incurred, and all advances made, by the Trustee, its
agents, attorneys and counsel and any and all defaults under this Indenture,
other than the nonpayment of the principal of Securities of such Series which
shall have become due by such acceleration, shall have been remedied then and
in every such case the Holders of a majority in aggregate principal amount at
maturity of the Securities of such Series then Outstanding, by written notice
to the Company and to the Trustee for the Securities of such Series, may waive
all defaults and rescind and annul such declaration and its consequences; but
no such waiver or rescission and annulment shall extend to or shall affect any
subsequent default or shall impair any right consequent thereon. 

22

               Section
5.02 Collection of Indebtedness by
Trustee; Trustee May Prove Debt. The Company covenants that (a) in case
default shall be made in the payment of any installment of interest on any of
the Securities of any Series when such interest shall have become due and
payable, and such default shall have continued for a period of 30 days or (b)
in case default shall be made in the payment of all or any part of the
principal of any of the Securities of any Series when the same shall have
become due and payable, whether upon maturity of the Securities of such Series
or upon any redemption or by declaration or otherwise, then upon demand of the
Trustee for the Securities of such Series, the Company will pay to the Trustee
for the Securities of such Series for the benefit of the Holders of the
Securities of such Series and the Holders of any Coupons appertaining thereto the
whole amount that then shall have become due and payable on all Securities of
such Series or such Coupons for principal of or interest, as the case may be
(with interest to the date of such payment upon the overdue principal and, to
the extent that payment of such interest is enforceable under applicable law,
on overdue installments of interest at the same rate as the rate of interest
specified in the Securities of such Series); and in addition thereto, such
further amount as shall be sufficient to cover the costs and expenses of
collection, including reasonable compensation to the Trustee and each
predecessor Trustee, their respective agents, attorneys and counsel, and any
expenses and liabilities incurred, and all advances made, by the Trustee and
each predecessor Trustee. 

          Until
such demand is made by the Trustee, the Company may pay the principal of and
interest on the Securities of any Series to the Persons entitled thereto,
whether or not the principal of and interest on the Securities of such Series
are overdue. 

          In
case the Company shall fail forthwith to pay such amounts upon such demand, the
Trustee for the Securities of such Series, in its own name and as trustee of an
express trust, shall be entitled and empowered to institute any action or
proceedings at law or in equity for the collection of the sums so due and
unpaid, and may prosecute any such action or proceedings to judgment or final
decree, and may enforce any such judgment or final decree against the Company
or other obligor upon such Securities and collect in the manner provided by law
out of the property of the Company or other obligor upon such Securities and
Coupons, wherever situated, the moneys adjudged or decreed to be payable. 

          In
case there shall be pending proceedings relative to the Company or other
obligor upon such Securities and Coupons, if any, under Title 11 of the United
States Code or any other applicable federal or state bankruptcy, insolvency or
other similar law, or in case a receiver, assignee or trustee in bankruptcy or
reorganization, liquidator, sequestrator or similar official shall have been
appointed for or taken possession of the Company or its property or other
obligor, or in case of any other comparable judicial proceedings relative to
the Company or other obligor, or to the creditors or property of the Company or
other obligor, the Trustee, irrespective of whether the principal of any
Securities shall then be due and payable as therein expressed or by declaration
or otherwise and irrespective of whether the Trustee shall have made any demand
pursuant to the provisions of this Section 5.02, shall be entitled and
empowered, by intervention in such proceedings or otherwise: 

                    (a)
to file and prove a claim or claims for the whole amount of principal (or, if
the Securities of such Series are Original Issue Discount Securities, such
portion of the principal amount as may be due and payable with respect to the
Securities of such Series pursuant to a declaration in accordance with Section
5.01) and interest owing and unpaid in respect of the Securities of such
Series, and to file such other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee (including any claim for
reasonable compensation to the Trustee and each predecessor Trustee, and their
respective agents, attorneys and counsel, and for reimbursement of all expenses
and liabilities incurred, and all advances made, by the Trustee and each
predecessor Trustee) and of the Securityholders and the Holders of any Coupons
appertaining thereto allowed in any judicial proceedings relative to the
Company or other obligor upon all Securities of such Series, or to the
creditors or property of the Company or other obligor; and 

                    (b)
to collect and receive any moneys or other property payable or deliverable on
any such claims, and to distribute all amounts received with respect to the
claims of the Securityholders and of the Trustee on their behalf; and any
trustee, receiver or liquidator, custodian or other similar official is hereby
authorized by each of the Holders to make payments to the Trustee for the
Securities of such Series, and, in the event that such Trustee shall consent to
the making of payments directly to the Securityholders, to pay to such Trustee
such amounts as shall be sufficient to cover reasonable compensation to such
Trustee, each predecessor Trustee and their respective agents, attorneys and 

23

counsel, and
all other expenses and liabilities incurred, and all advances made, by such
Trustee and each predecessor Trustee and all other amounts due to such Trustee
or any predecessor Trustee pursuant to Section 6.06. 

          Nothing
herein contained shall be deemed to authorize the Trustee to authorize or
consent to or vote for or accept or adopt on behalf of any Securityholder any
plan of reorganization, arrangement, adjustment or composition affecting the
Securities of any Series or the rights of any Holder thereof, or to authorize
the Trustee to vote in respect of the claim of any Securityholder in any such
proceeding except, as aforesaid, to vote for the election of a trustee in
bankruptcy or similar Person. 

          All
rights of action and of asserting claims under this Indenture, or under any of
the Securities or any Coupon appertaining thereto, may be enforced by the
Trustee for the Securities of such Series without the possession of any of the
Securities of such Series or any Coupon appertaining thereto or the production
thereof at any trial or other proceedings relative thereto, and any such action
or proceedings instituted by the Trustee shall be brought in its own name as
trustee of an express trust, and any recovery of judgment, subject to the
payment of the expenses, disbursements and compensation of the Trustee, each
predecessor Trustee and their respective agents and attorneys, shall be for the
ratable benefit of the Holders of the Securities and Holders of any Coupons in
respect of which such action was taken. 

          In
any proceedings brought by the Trustee for the Securities of such Series (and
also any proceedings involving the interpretation of any provision of this
Indenture to which the Trustee shall be a party), the Trustee shall be held to
represent all the Holders of the Securities and Coupons appertaining thereto in
respect to which such action was taken, and it shall not be necessary to make
any Holders of such Securities and Coupons appertaining thereto parties to any
such proceedings. 

               Section
5.03 Application of Proceeds.
Any moneys collected by the Trustee for the Securities of such Series pursuant
to this Article shall be applied in the following order at the date or dates
fixed by such Trustee and, in case of the distribution of such moneys on
account of principal or interest, upon presentation of the Securities and any
Coupons appertaining thereto in respect of which moneys have been collected and
stamping (or otherwise noting) thereon the payment, or issuing Securities of
such Series in reduced principal amounts in exchange for the presented
Securities of like Series if only partially paid, or upon surrender thereof if
fully paid: 

          FIRST:
To the payment of costs and expenses applicable to such Series in respect of
which moneys have been collected, including reasonable compensation to the
Trustee and each predecessor Trustee and their respective agents and attorneys
and of all expenses and liabilities incurred, including the costs and expenses
of collection, and all advances made, by the Trustee and each predecessor
Trustee and all other amounts due to the Trustee or any predecessor Trustee
pursuant to Section 6.06; 

          SECOND:
In case the principal of the Securities of such Series in respect of which
moneys have been collected shall not have become and be then due and payable,
to the payment of interest on the Securities of such Series in default in the
order of the maturity of the installments of such interest, with interest (to
the extent that such interest is permissible by law and that such interest has
been collected by the Trustee) upon the overdue installments of interest at the
same rate as the rate of interest specified in such Securities, such payments
to be made ratably to the Persons entitled thereto, without discrimination or
preference; 

          THIRD:
In case the principal of the Securities of such Series in respect of which
moneys have been collected shall have become and shall be then due and payable,
to the payment of the whole amount then owing and unpaid upon all the Securities
of such Series for principal and interest, with interest upon the overdue
principal, and (to the extent that payment of such interest is permissible by
law and that such interest has been collected by the Trustee) upon overdue
installments of interest at the same rate as the rate of interest specified in
the Securities of such Series; and in case such moneys shall be insufficient to
pay in full the whole amount so due and unpaid upon the Securities of such
Series, then to the payment of such principal and interest without preference
or priority of principal over interest or of interest over principal, or of any
installment of interest over any other installment of interest, or of any
Security of such Series over any other Security of such Series, ratably to the
aggregate of such principal and accrued and unpaid interest; and 

24

          FOURTH:
To the payment of the remainder, if any, to the Company or to such party as a
court of competent jurisdiction shall direct. 

          The
Trustee may fix a record date and payment date for any payment to Holders. 

               Section
5.04 Suits for Enforcement.
In case an Event of Default has occurred, has not been waived and is
continuing, the Trustee may in its discretion proceed to protect and enforce
the rights vested in it by this Indenture by such appropriate judicial
proceedings as the Trustee shall deem most effectual to protect and enforce any
of such rights, either at law or in equity or in bankruptcy or otherwise,
whether for the specific enforcement of any covenant or agreement contained in
this Indenture or in aid of the exercise of any power granted in this Indenture
or to enforce any other legal or equitable right vested in the Trustee by this
Indenture or by law. 

               Section
5.05 Restoration of Rights on
Abandonment of Proceedings. In case the Trustee for the Securities
of any Series shall have proceeded to enforce any right under this Indenture
and such proceedings shall have been discontinued or abandoned for any reason,
or shall have been determined adversely to the Trustee, then and in every such
case, the Company and the Trustee shall be restored respectively to their
former positions and rights hereunder, and all rights, remedies and powers of
the Company, the Trustee and the Securityholders shall continue as though no
such proceedings had been taken. 

               Section
5.06 Limitations on Suits by
Securityholders. No Holder of any Security of any Series or Holder
of any Coupon shall have any right by virtue or by availing of any provision of
this Indenture to institute any action or proceeding at law or in equity or in
bankruptcy or otherwise upon or under or with respect to this Indenture, or for
the appointment of a trustee, receiver, liquidator, custodian or other similar
official or for any other remedy hereunder, unless (a) such Holder previously
shall have given to the Trustee written notice of default and of the
continuance thereof, as provided in Section 5.01, (b) the Holders of not less
than a majority in aggregate principal amount of the Securities of such Series
then Outstanding shall have made written request upon the Trustee to institute
such action or proceedings in its own name as trustee hereunder, (c) such
Holder or Holders shall have offered to the Trustee such reasonable indemnity
as it may require against the costs, expenses and liabilities to be incurred
therein or thereby, (d) the Trustee for 60 days after its receipt of such
notice, request and offer of indemnity shall have failed to institute any such action
or proceeding, and (e) no direction inconsistent with such written request
shall have been given to the Trustee pursuant to Section 5.09; it being
understood and intended, and being expressly covenanted by the taker and Holder
of every Security and by a Holder of each Coupon appertaining thereto with
every other taker and Holder of a Security or Holder of any Coupon appertaining
thereto and the Trustee, that no one or more Holders of Securities of any
Series or one or more Holders of any Coupons appertaining thereto shall have
any right in any manner whatever, by virtue or by availing of any provision of
this Indenture to affect, disturb or prejudice the rights of any other such
Holder of Securities or any other Holders of such Coupons, or to obtain or seek
to obtain priority over or preference to any other such Holder or to enforce
any right under this Indenture, except in the manner herein provided and for
the equal, ratable and common benefit of all Holders of Securities of the
applicable Series and all the Holders of Coupons appertaining thereto. For the
protection and enforcement of the provisions of this Section 5.06, each and
every Securityholder and the Trustee shall be entitled to such relief as can be
given either at law or in equity. 

               Section
5.07 Unconditional Right of
Securityholders to Institute Certain Suits. Notwithstanding any
provision in this Indenture and any provision of any Security or Coupon, the
right of any Holder of any Security and the right of any Holder of any Coupon
appertaining thereto to receive payment of the principal of and interest on
such Security at the respective rates, in the respective amount and in the
Currency therein prescribed on or after the respective due dates expressed in
such Security, or to institute suit for the enforcement of any such payment on
or after such respective dates, shall not be impaired or affected without the
consent of such Holder. 

               Section
5.08 Powers and Remedies Cumulative;
Delay or Omission Not Waiver of Default. Except as provided in
Section 5.06, no right or remedy herein conferred upon or reserved to the
Trustee or to the Securityholders is intended to be exclusive of any other
right or remedy, and every right and remedy shall, to the extent permitted by
law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The
assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other appropriate
right or remedy. 

25

          No
delay or omission of the Trustee or of any Securityholder to exercise any right
or power accruing upon any Event of Default occurring and continuing as
aforesaid shall impair any such right or power or shall be construed to be a
waiver of any such Event of Default or an acquiescence therein; and, subject to
Section 5.06, every power and remedy given by this Indenture or by law to the
Trustee, to the Securityholders or to the Holder of any Coupon may be exercised
from time to time, and as often as shall be deemed expedient, by the Trustee,
the Securityholders or Holders of any Coupon. 

               Section
5.09 Control by Securityholders.
The Holders of a majority in aggregate principal amount of the Securities of
each Series affected (with each Series treated as a separate class) at the time
Outstanding shall have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee with respect to the
Securities of such Series by this Indenture; provided that such
direction shall not be otherwise than in accordance with law and the provisions
of this Indenture and provided further that (subject to the provisions of
Section 6.1) the Trustee shall have the right to decline to follow any such
direction if the Trustee, being advised by counsel, shall determine that the
actions or proceeding so directed may not lawfully be taken or that the actions
or proceedings so directed would involve the Trustee in personal liability or
if a trust committee of Responsible Officers in good faith shall determine that
the actions or forbearances specified in or pursuant to such direction would be
unduly prejudicial to the interests of Holders of the Securities of all Series
or of the Holders of any Coupons appertaining thereto so affected not joining
in the giving of said direction, it being understood that (subject to Section
6.01) the Trustee shall have no duty to ascertain whether or not such actions
or forbearances are unduly prejudicial to such Holders. 

          Nothing
in this Indenture shall impair the right of the Trustee in its discretion to
take any action deemed proper by the Trustee and which is not inconsistent with
such direction or directions by Securityholders. 

               Section
5.10 Waiver of Past Defaults.
Prior to the declaration of the acceleration of the maturity of the Securities
of any Series as provided in Section 5.01, the Holders of a majority in
aggregate principal amount of the Securities of such Series at the time
Outstanding may on behalf of the Holders of all the Securities of such Series
and Holders of all Coupons, if any, appertaining thereto waive any past default
hereunder or its consequences, except a default in the payment of principal or
interest on any of the Securities of such Series. In the case of any such
waiver, the Company, the Trustee, the Holders of the Securities of such Series
and the Holder of any Coupon appertaining thereto shall be restored to their
former positions and rights hereunder, respectively; but no such waiver shall
extend to any subsequent or other default or impair any right consequent
thereon. 

          Upon
any such waiver, such default shall cease to exist and be deemed to have been
cured and not to have occurred, and any Event of Default arising therefrom
shall be deemed to have been cured and not to have occurred for every purpose
of this Indenture; but no such waiver shall extend to any subsequent or other
default or Event of Default or impair any right consequent thereon. 

              Section
5.11 Trustee to Give Notice of Default,
But May Withhold in Certain Circumstances. The Trustee shall
transmit to the Securityholders of any Series notice, in the manner and to the
extent provided in Section 14.04, of all defaults which have occurred with
respect to such Series, such notice to be transmitted within 90 days after the
occurrence thereof, unless such defaults shall have been cured before the
giving of such notice (the term “default”
or “defaults” for the purposes of
this Section 5.11 and Section 6.02(h) being hereby defined to mean any event or
condition which is, or with notice or lapse of time or both would become, an
Event of Default); provided that, except in the case of default in the
payment of the principal of or interest on any of the Securities of such Series
or any default in the payment of any sinking fund installment or analogous
obligation in respect of any of the Securities of such Series, the Trustee
shall be protected in withholding such notice if and so long as a trust
committee of Responsible Officers of the Trustee in good faith determines that
the withholding of such notice is in the interests of the Securityholders of
such Series. In the case of any default of the character specified in Section
5.01(c) with respect to Securities of such Series, no such notice to Holders
shall be given until at least 30 days after the occurrence thereof. 

          5.12
Right of Court to Require Filing of
Undertaking to Pay Costs. All parties to this Indenture agree, and
each Holder of any Security and each Holder of any Coupon, by his acceptance
thereof, shall be deemed to have agreed, that any court may in its discretion require,
in any suit for the enforcement of any right or remedy under this Indenture or
in any suit against the Trustee for any action taken, suffered or omitted by it
as Trustee, the filing by 

26

any party
litigant in such suit of an undertaking to pay the costs of such suit, and that
such court may in its discretion assess reasonable costs, including reasonable
attorneys’ fees and expenses, against any party litigant in such suit, having
due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section 5.12 shall not apply to any
suit instituted by the Trustee, to any suit instituted by any Securityholder or
group of Securityholders of any Series holding in the aggregate more than 10%
in aggregate principal amount of the Securities of such Series, or to any suit
instituted by any Securityholder for the enforcement of the payment of the
principal of or interest on any Security on or after the due date expressed in
such Security. 

ARTICLE 6

CONCERNING THE TRUSTEE

               Section
6.01 Duties and Responsibilities of the
Trustee; During Default; Prior to Default. With respect to the
Holders of any Series of Securities issued hereunder, the Trustee, prior to the
occurrence of an Event of Default with respect to the Securities of a
particular Series and after the curing or waiving of all Events of Default
which may have occurred with respect to such Series, undertakes to perform such
duties and only such duties as are specifically set forth in this Indenture. In
case an Event of Default with respect to the Securities of a Series has
occurred (which has not been cured or waived) of which a Responsible Officer
has actual knowledge, the Trustee shall exercise such of the rights and powers
vested in it by this Indenture, and use the same degree of care and skill in
their exercise, as a prudent individual would exercise or use under the
circumstances in the conduct of such Person’s own affairs. 

          No
provision of this Indenture shall be construed to relieve the Trustee from
liability for its own negligent action, its own negligent failure to act or its
own willful misconduct, except that: 

                    (a)
prior to the occurrence of an Event of Default with respect to the Securities
of any Series and after the curing or waiving of all such Events of Default
with respect to such Series which may have occurred: 

                              (i)
the duties and obligations of the Trustee with respect to the Securities of any
Series shall be determined solely by the express provisions of this Indenture,
and the Trustee need only perform such duties and obligations as are
specifically set forth in this Indenture, and no implied covenants or
obligations shall be read into this Indenture against the Trustee; and 

                              (ii)
in the absence of bad faith on the part of the Trustee, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon any statements, certificates or opinions
furnished to the Trustee and conforming to the requirements of this Indenture;
but in the case of any such statements, certificates or opinions which by any
provision are specifically required to be furnished to the Trustee, the Trustee
shall be under a duty to examine the same to determine whether or not they
conform to the requirements of this Indenture; 

                    (b)
the Trustee shall not be liable for any error of judgment made in good faith by
a Responsible Officer or Responsible Officers, unless it shall be proved that
the Trustee was negligent in ascertaining the pertinent facts; and 

                    (c)
the Trustee shall not be liable with respect to any action taken or omitted to
be taken by it in good faith in accordance with the direction of the Holders
pursuant to Section 5.09 relating to the time, method and place of conducting
any proceeding for any remedy available to the Trustee, or exercising any trust
or power conferred upon the Trustee, under this Indenture. 

          None
of the provisions contained in this Indenture shall require the Trustee to
expend or risk its own funds or otherwise incur personal financial liability in
the performance of any of its duties or in the exercise of any of its rights or
powers, if there shall be reasonable ground for believing that the repayment of
such funds or adequate indemnity against such liability is not reasonably
assured to it. 

27

          Whether
or not therein expressly so provided, every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection
to the Trustee shall be subject to the conditions of this Section 6.01. 

               Section
6.02 Certain Rights of the Trustee.
Subject to Section 6.01: 

                    (a)
The Trustee may conclusively rely and shall be protected in acting or
refraining from acting upon any Company Board Resolution, Company Officers’
Certificate, Exchange Rate Officers’ Certificate, Company Order, certificate
pursuant to Section 4.03(a)(iv) or any other certificate, statement,
instrument, opinion, report, notice, request, consent, order, bond, debenture,
note, coupon, security or other paper or document believed by it to be genuine
and to have been signed or presented by the proper party or parties. 

                    (b)
Any request, direction, order or demand of the Company mentioned herein shall
be sufficiently evidenced by a Company Officers’ Certificate (unless other
evidence in respect thereof be herein specifically prescribed). 

                    (c)
The Trustee may consult with counsel of its selection and any advice of such
counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken, suffered or omitted to be taken by
it hereunder in good faith and in accordance with such advice or Opinion of
Counsel. 

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

                    (e)
The Trustee shall not be liable for any action taken or omitted by it in good
faith and believed by it to be authorized or within the discretion, rights or
powers conferred upon it by this Indenture. 

                    (f)
Prior to the occurrence of any Event of Default hereunder and after the curing
or waiving of all Events of Default, the Trustee shall not be bound to make any
investigation into the facts or matters stated in any Company Board Resolution,
Company Officers’ Certificate, Exchange Rate Officers’ Certificate, certificate
pursuant to Section 4.03(a)(iv), Company Order or any other certificate,
statement, instrument, opinion, report, notice, request, consent, order,
approval, appraisal, bond, debenture, note, coupon, security or other paper or
document unless requested in writing to do so by the Holders of not less than a
majority in aggregate principal amount of the Securities of all Series affected
then Outstanding. 

                    (g)
The Trustee may execute any of the trusts or powers hereunder or perform any
duties hereunder either directly or by or through agents or attorneys not
regularly in its employ and the Trustee shall not be responsible for any
misconduct or negligence on the part of any such agent or attorney appointed
with due care by it hereunder. 

                    (h)
The Trustee shall not be deemed to have notice of any default or Event of
Default (other than any Event of Default under Section 5.01(a) or 5.01(b))
unless a Responsible Officer has actual knowledge thereof or unless written
notice of such default or Event of Default is received by the Trustee at the
Corporate Trust Office of the Trustee. 

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

                    (j)
The Trustee may request that the Company deliver a Company Officers’
Certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture. 

               Section
6.03 Trustee Not Responsible for
Recitals, Disposition of Securities or Application of Proceeds Thereof.
The recitals contained herein and in the Securities, except the Trustee’s
certificate of authentication, shall 

28

be taken as
the statements of the Company, and the Trustee assumes no responsibility for
the correctness of the same. The Trustee makes no representation as to the
validity or sufficiency of this Indenture or of any Securities or Coupons. The
Trustee represents that it is duly authorized to execute and deliver this
Indenture and perform its obligations hereunder. The Trustee shall not be
accountable for the use or application by the Company of any of the Securities
or of the proceeds thereof. 

               Section
6.04 Trustee and Agents May Hold
Securities; Collections, etc. The Trustee, any Paying Agent, any
Security registrar or any agent of the Company or the Trustee, in its
individual or any other capacity, may become the owner or pledgee of Securities
or Coupons with the same rights it would have if it were not serving in such
capacity and, subject to Sections 6.08 and 6.13, if operative, may otherwise
deal with the Company and receive, collect, hold and retain collections from
the Company with the same rights it would have if it were not serving in such
capacity. 

               Section
6.05 Moneys Held by Trustee.
Subject to the provisions of Section 10.04, all moneys received by the Trustee
shall, until used or applied as herein provided, be held in trust for the
purposes for which they were received, but need not be segregated from other
funds except to the extent required by mandatory provisions of law. Neither the
Trustee nor any agent of the Company or the Trustee shall be under any
liability for interest on any moneys received by it hereunder. 

               Section
6.06 Compensation and Indemnification of
Trustee and Its Prior Claim. The Company covenants and agrees to pay
to the Trustee from time to time, and the Trustee shall be entitled to, such
compensation as shall be agreed in writing between the Company and the Trustee
in Dollars (which shall not be limited by any provision of law in regard to the
compensation of a trustee of an express trust) and the Company covenants and
agrees to pay or reimburse the Trustee and each predecessor Trustee upon its
request in Dollars for all reasonable expenses, disbursements and advances
actually incurred or made by or on behalf of it in accordance with any of the
provisions of this Indenture (including the reasonable compensation and the expenses
and disbursements of its counsel and of all agents and other persons not
regularly in its employ) except any such expense, disbursement or advance as
may arise from its fraud, negligence or bad faith. The Company also covenants
to indemnify the Trustee and each predecessor Trustee for, and to hold it
harmless against, any and all loss, liability, damage, claim or expense,
including taxes (other than taxes based on the income of the Trustee), actually
incurred without fraud, negligence or bad faith on its part, arising out of or
in connection with the acceptance or administration of this Indenture or the
trusts hereunder and its duties hereunder, including the reasonable costs and
expenses of defending itself against or investigating any claim (whether
asserted by the Company, a Holder or any other Person) or liability in
connection with the exercise or performance of any of its powers or duties
hereunder. The obligations of the Company under this Section 6.06 to compensate
and indemnify the Trustee and each predecessor Trustee and to pay or reimburse
the Trustee and each predecessor Trustee for reasonable expenses, disbursements
and advances shall constitute additional indebtedness hereunder and shall
survive the satisfaction and discharge of this Indenture and the resignation or
removal of the Trustee. Such additional indebtedness shall be a senior claim to
that of the Securities upon all property and funds held or collected by the
Trustee as such, except funds held in trust for the benefit of the Holders of
particular Securities or the Holders of particular Coupons, and the Securities
are hereby subordinated to such senior claim. 

          When
the Trustee incurs expenses or renders services in connection with an Event of
Default specified in clause (d) of Section 5.01, the expenses (including the
reasonable charges and expenses of its counsel) and the compensation for the
services are intended to constitute expenses of administration under any
applicable federal or state bankruptcy, insolvency or other similar law. 

               Section
6.07 Right of Trustee to Rely on
Officers’ Certificate, etc. Subject to Sections 6.01 and 6.02,
whenever in the administration of the trusts of this Indenture the Trustee
shall deem it necessary or desirable that a matter be proved or established
prior to taking or suffering or omitting any action hereunder, such matter
(unless other evidence in respect thereof be herein specifically prescribed)
may, in the absence of fraud, negligence or bad faith on the part of the Trustee,
be deemed to be conclusively proved and established by a Company Officers’
Certificate delivered to the Trustee, and such Company Officers’ Certificate in
the absence of fraud, negligence or bad faith on the part of the Trustee, shall
be full warrant to the Trustee for any action taken, suffered or omitted by it
or under the provisions of this Indenture upon the faith thereof. 

29

               Section
6.08 Disqualification of Trustee;
Conflicting Interests. If the Trustee for the Securities of any
Series has or shall acquire any conflicting interest, as defined in the Trust
Indenture Act, it shall, within 90 days after ascertaining that it has such
conflicting interest, and if the default (as defined in the Trust Indenture
Act) to which such conflicting interest relates has not been cured or waived or
otherwise eliminated before the end of such 90-day period, the Trustee shall, either
eliminate such conflicting interest or resign in the manner and with the effect
specified in the Trust Indenture Act and this Indenture. If the Trustee does
not so resign, each holder of the Securities for any Series for which such
Trustee acts as trustee shall have the rights provided under, and subject to
the limitations set forth in, Section 310(b)(iii) of the Trust Indenture Act.
To the extent permitted by the Trust Indenture Act, the Trustee shall not be
deemed to have a conflicting interest by virtue of being a trustee under this
Indenture with respect to Securities of more than one Series. 

               Section
6.09 Persons Eligible for Appointment as
Trustee. The Trustee for each Series of Securities hereunder shall
at all times be a corporation organized and doing business under the laws of
the United States of America or of any State or the District of Columbia having
a combined capital and surplus of at least $100,000,000, and which is
authorized under such laws to exercise corporate trust powers and is subject to
supervision or examination by federal, state or District of Columbia authority
and which has a Corporate Trust Office in any State of the United States of
America. If such corporation publishes reports of condition at least annually,
pursuant to law or to the requirements of the aforesaid supervising or
examining authority, then for the purposes of this Section 6.09, the combined
capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so
published. In case at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section 6.09, the Trustee shall resign
immediately in the manner and with the effect specified in Section 6.10. 

               Section
6.10 Resignation and Removal;
Appointment of Successor Trustee.

                    (a)
No resignation or removal of the Trustee and no appointment of a successor
Trustee pursuant to this Article shall become effective until acceptance of
such appointment by the successor Trustee in accordance with Section 6.11. 

                    (b)
The Trustee, or any trustee or trustees hereafter appointed, may at any time
resign with respect to one or more or all Series of Securities by giving
written notice of resignation to the Company and by mailing notice thereof to
the Holders in the manner and to the extent provided in Section 14.04. Upon
receiving such notice of resignation, the Company shall promptly appoint a
successor trustee or trustees with respect to the applicable Series by written
instrument in duplicate, authorized by a Company Board Resolution and executed
by the Company, one copy of which instrument shall be delivered to the
resigning Trustee and one copy to the successor trustee or trustees. If no
successor trustee shall have been so appointed with respect to any Series and
have accepted appointment within 60 days after the mailing of such notice of
resignation, the resigning Trustee may petition, at the expense of the Company,
any court of competent jurisdiction for the appointment of a successor trustee,
or any Securityholder who has been a bona fide Holder of a Security or
Securities of the applicable Series for at least six months may, subject to the
provisions of Section 5.12, on behalf of himself and all others similarly
situated, petition any such court for the appointment of a successor trustee.
Such court may thereupon, after such notice, if any, as it may deem proper and
prescribe, appoint a successor trustee. 

                    (c)
In case at any time any of the following shall occur: 

	
  

 	
  

 
	
  

 	
                     (i)
 the Trustee shall fail to comply with the provisions of Section 6.08 with
 respect to any Series of Securities after written request therefor by the
 Company pursuant to a Company Order or by any Securityholder who has been a
 bona fide Holder of a Security or Securities of such Series for at least six
 months unless the Trustee’s duty to resign is stayed in accordance with the
 provisions of Section 310(b) of the Trust Indenture Act; or 

 
	
  

 	
  

 
	
  

 	
                     (ii)
 the Trustee shall cease to be eligible in accordance with the provisions of
 Section 6.09 and shall fail to resign upon written request by the Company
 pursuant to a Company Order or by any Securityholder; or 

 

30

	
  

 	
  

 
	
  

 	
                     (iii)
 the Trustee shall become incapable of acting with respect to any Series of
 the Securities, or shall be adjudged a bankrupt or insolvent, or a receiver
 or liquidator of the Trustee or of its property shall be appointed, or any
 public officer shall take charge or control of the Trustee or of its property
 or affairs for the purpose of rehabilitation, conservation or liquidation; 

 

then, in any such case, the
Company may remove the Trustee with respect to the applicable Series of
Securities and appoint a successor trustee for such Series by written
instrument, in duplicate, authorized by a Company Board Resolution and executed
by the Company, one copy of which instrument shall be delivered to the Trustee so
removed and one copy to the successor trustee, or, subject to the provisions of
Section 5.12, any Securityholder who has been a bona fide Holder of a Security
or Securities of such Series for at least six months may on behalf of himself
and all others similarly situated, petition any court of competent jurisdiction
for the removal of the Trustee and the appointment of a successor trustee with
respect to such Series. Such court may thereupon, after such notice, if any, as
it may deem proper and prescribe, remove the Trustee and appoint a successor
trustee. 

                    (d)
The Holders of a majority in aggregate principal amount of the Securities of
each Series at the time Outstanding may at any time remove the Trustee with
respect to Securities of such Series and appoint a successor trustee with
respect to the Securities of such Series by delivering to the Trustee so
removed, to the successor trustee so appointed and to the Company the evidence
provided for in Section 7.01 of the action in that regard taken by the
Securityholders. 

          If
no successor trustee shall have been appointed with respect to such Series
within 30 days after the mailing of such notice of removal, the Trustee being
removed may petition, at the expense of the Company, any court of competent
jurisdiction for the appointment of a successor trustee with respect to the
Securities of such Series. 

                    (e)
Any resignation or removal of the Trustee with respect to any Series and any
appointment of a successor trustee with respect to such Series pursuant to any
of the provisions of this Section 6.10 shall become effective upon acceptance
of appointment by the successor trustee as provided in Section 6.11. 

               Section
6.11 Acceptance of Appointment by Successor
Trustee. Any successor trustee appointed as provided in Section 6.10
shall execute and deliver to the Company and to its predecessor Trustee an
instrument accepting such appointment hereunder, and thereupon the resignation
or removal of the predecessor Trustee with respect to all or any applicable
Series shall become effective and such successor trustee, without any further
act, deed or conveyance, shall become vested with all rights, powers, duties
and obligations with respect to such Series of its predecessor hereunder, with
like effect as if originally named as trustee for such Series hereunder; but,
nevertheless, on the written request of the Company pursuant to a Company Order
or of the successor Trustee, upon payment of its charges then unpaid, the
trustee ceasing to act shall pay over to the successor trustee all moneys at
the time held by it hereunder and shall execute and deliver an instrument
transferring to such successor trustee all such rights, powers, duties and
obligations. Upon request of any such successor trustee, the Company shall
execute any and all instruments in writing for more fully and certainly vesting
in and confirming to such successor trustee all such rights and powers. Any
trustee ceasing to act shall, nevertheless, retain a prior claim upon all
property or funds held or collected by such trustee to secure any amounts then
due it pursuant to the provisions of Section 6.06. 

          If
a successor trustee is appointed with respect to the Securities of one or more
(but not all) Series, the Company, the predecessor Trustee and each successor
trustee with respect to the Securities of any applicable Series shall execute
and deliver an indenture supplemental hereto which shall contain such
provisions as shall be deemed necessary or desirable to confirm that all the
rights, powers, trusts and duties of the predecessor Trustee with respect to
the Securities of any Series as to which the predecessor Trustee is not
retiring shall continue to be vested in the predecessor Trustee, and shall add
to or change any of the provisions of this Indenture as shall be necessary to
provide for or facilitate the administration of the trusts hereunder by more
than one trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such trustees co-trustees of the same
trust and that each such trustee shall be trustee of a trust or trusts under
separate indentures. 

          No
successor trustee with respect to any Series of Securities shall accept
appointment as provided in this Section 6.11 unless at the time of such
acceptance such successor trustee shall be qualified under the provisions of
Section 6.8 and eligible under the provisions of Section 6.9. 

31

          Upon
acceptance of appointment by any successor trustee as provided in this Section
6.11, the Company shall give notice in the manner and to the extent provided in
Section 14.04 to the Holders of Securities of any Series for which such
successor trustee is acting as trustee at their last addresses as they shall
appear in the Security register. If the acceptance of appointment is
substantially contemporaneous with the resignation, then the notice called for
by the preceding sentence may be combined with any notice called for by Section
6.10. If the Company fails to mail such notice within ten days after acceptance
of appointment by the successor trustee, the successor trustee shall cause such
notice to be mailed at the expense of the Company. 

               Section
6.12 Merger, Conversion, Consolidation or
Succession to Business of Trustee. Any entity into which the Trustee
may be merged or converted or with which it may be consolidated, or any entity
resulting from any merger, conversion or consolidation to which the Trustee
shall be a party, or any entity succeeding to all or substantially all the
corporate trust business of the Trustee, shall become the successor of the
Trustee hereunder, provided that such entity shall be qualified under
the provisions of Section 6.08 and eligible under the provisions of Section
6.09, without the execution or filing of any paper or any further act on the
part of any of the parties hereto, anything herein to the contrary
notwithstanding. 

          In
case at the time such successor to the Trustee shall succeed to the trusts
created by this Indenture any of the Securities of any Series shall have been
authenticated but not delivered, any such successor to the Trustee may adopt
the certificate of authentication of any predecessor Trustee and deliver such
Securities so authenticated; and, in case at that time any of the Securities of
any Series shall not have been authenticated, any successor to the Trustee may
authenticate such Securities either in the name of any predecessor Trustee
hereunder or in the name of the successor Trustee; and in all such cases such
certificates shall have the full force which it is anywhere in the Securities
of such Series or in this Indenture provided that the certificate of the
Trustee shall have; provided that the right to adopt the certificate of
authentication of any predecessor Trustee or to authenticate Securities of any
Series in the name of any predecessor Trustee shall apply only to its successor
or successors by merger, conversion or consolidation. 

               Section
6.13 Preferential Collection of Claims
Against the Company. If and when the Trustee shall be or become a
creditor of the Company (or any other obligor upon the Securities), the Trustee
shall be subject to the provisions of the Trust Indenture Act regarding the
collection of claims against the Company (or any such other obligor). 

ARTICLE 7

CONCERNING THE SECURITYHOLDERS

               Section
7.01 Evidence of Action Taken by
Securityholders.

                    (a)
Any request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by a specified
percentage in principal amount of the Securityholders of any or all Series may
be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such specified percentage of Securityholders in person
or by agent duly appointed in writing; and, except as herein otherwise
expressly provided, such action shall become effective when such instrument or
instruments are delivered to the Trustee. Proof of execution of any instrument
or of a writing appointing any such agent shall be sufficient for any purpose
of this Indenture and (subject to Sections 6.01 and 6.2) conclusive in favor of
the Trustee and the Company, if made in the manner provided in this Article. 

                    (b)
The ownership of Registered Securities shall be proved by the Security
register. 

                    (c)
The amount of Unregistered Securities held by any Person executing any
instrument or writing as a Securityholder, the numbers of such Unregistered
Securities, and the date of his holding the same may be proved by the
production of such Securities or by a certificate executed by any trust
company, bank, broker or member of a national securities exchange (wherever
situated), as depositary, if such certificate is in form satisfactory to the
Trustee, showing that at the date therein mentioned such Person had on deposit
with such depositary, or exhibited to it, the Unregistered Securities therein
described; or such facts may be proved by the certificate or affidavit of the
Person executing such instrument or writing as a Securityholder, if such
certificate or affidavit is in form satisfactory to the Trustee. The Trustee
and the Company may assume that such ownership of any Unregistered Security 

32

continues until (i) another
certificate or affidavit bearing a later date issued in respect of the same
Unregistered Security is produced, or (ii) such Unregistered Security is
produced by some other Person, or (iii) such Unregistered Security is
surrendered in exchange for a Registered Security, or (iv) such Unregistered
Security has been cancelled in accordance with Section 2.10. 

               Section
7.02 Proof of Execution of Instruments.
Subject to Sections 6.01 and 6.02, the execution of any instrument by a
Securityholder or his agent or proxy may be proved in accordance with such
reasonable rules and regulations as may be prescribed by the Trustee or in such
manner as shall be satisfactory to the Trustee. 

               Section
7.03 Holders to Be Treated as Owners.
The Company, the Trustee and any agent of the Company or the Trustee may deem
and treat the Person in whose name any Security shall be registered upon the
Security register for such Series as the absolute owner of such Security
(whether or not such Security shall be overdue and notwithstanding any notation
of ownership or other writing thereon) for the purpose of receiving payment of
or on account of the principal of and interest on such Security and for all
other purposes; and none of the Company, the Trustee or any agent of the
Company or the Trustee shall be affected by any notice to the contrary. All
such payments so made to any such Person, or upon his order, shall be valid,
and, to the extent of the sum or sums so paid, effectual to satisfy and
discharge the liability for moneys payable upon any such Security. 

               Section
7.04 Securities Owned by Company Deemed
Not Outstanding. In determining whether the Holders of the requisite
aggregate principal amount of Outstanding Securities of any or all Series have
concurred in any direction, consent or waiver under this Indenture or whether a
quorum is present at a meeting of Holders of Securities, Securities which are
owned by the Company or any other obligor on the Securities with respect to
which such determination is being made or by any Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
the Company or any other obligor on the Securities with respect to which such
determination is being made shall be disregarded and deemed not to be
Outstanding for the purpose of any such determination, except that for the
purpose of determining whether the Trustee shall be protected in relying on any
such direction, consent or waiver, and for purposes of determining the presence
of a quorum, only Securities which a Responsible Officer actually knows are so
owned shall be so disregarded. Securities so owned which have been pledged in
good faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such
Securities and that the pledgee is not the Company or other obligor on such
Securities or any Person directly or indirectly controlling or controlled by or
under direct or indirect common control with the Company or any other obligor
on such Securities. In case of a dispute as to such right, the advice of
counsel shall be full protection in respect of any decision made by the Trustee
in accordance with such advice. Upon request of the Trustee, the Company shall
furnish to the Trustee promptly a Company Officers’ Certificate listing and
identifying all Securities, if any, known by the Company to be owned or held by
or for the account of any of the above-described Persons; and, subject to
Sections 6.01 and 6.02, the Trustee shall be entitled to accept such Company
Officers’ Certificate as conclusive evidence of the facts therein set forth and
of the fact that all Securities not listed therein are Outstanding for the
purpose of any such determination. 

               Section
7.05 Right of Revocation of Action
Taken. At any time prior to (but not after) the evidencing to the
Trustee, as provided in Section 7.01, of the taking of any action by the
Holders of the percentage in aggregate principal amount of the Securities of
any or all Series, as the case may be, specified in this Indenture in
connection with such action, any Holder of a Security the serial number of
which is shown by the evidence to be included among the serial numbers of the
Securities the Holders of which have consented to such action may, by filing
written notice at the Corporate Trust Office and upon proof of holding as
provided in this Article, revoke such action so far as it concerns such
Security. Except as aforesaid, any such action taken by the Holder of any
Security shall be conclusive and binding upon such Holder and upon all future
Holders and owners of such Security and of any Securities issued in exchange or
substitution therefor, irrespective of whether or not any notation in regard
thereto is made upon any such Security. Any action taken by the Holders of the
percentage in aggregate principal amount of the Securities of any or all
Series, as the case may be, specified in this Indenture in connection with such
action shall be conclusively binding upon the Company, the Trustee and the
Holders of all the Securities affected by such action. 

               Section
7.06 Record Date for Determination of
Holders Entitled to Vote. The Company may, in the circumstances
permitted by the Trust Indenture Act, set a record date for the purpose of
determining the Securityholders entitled to give or take any request, demand,
authorization, direction, notice, consent, waiver or other action, or to vote
on any action, authorized or permitted to be given or taken by Securityholders.
If not set by 

33

the Company
prior to the first solicitation of a Securityholder made by any Person in
respect of any such action, or, in the case of any such vote, prior to such
vote, the record date for any such action or vote shall be the 30th day (or, if
later, the date of the most recent list of Holders required to be provided
pursuant to Section 4.01) prior to such first solicitation or vote, as the case
may be. With regard to any record date, only the Holders on such date (or their
duly appointed proxies) shall be entitled to give or take, or vote on, the
relevant action. 

ARTICLE 8

SUPPLEMENTAL INDENTURES

               Section
8.01 Supplemental Indentures Without
Consent of Securityholders. The Company, when authorized by a
Company Board Resolution, and the Trustee for the Securities of any or all
Series may, from time to time and at any time, enter into one or more
indentures supplemental hereto (which shall conform to the provisions of the
Trust Indenture Act as in force at the date of the execution thereof), in form
satisfactory to such Trustee, for one or more of the following purposes: 

                    (a)
to evidence the succession of another entity to the Company or successive
successions, and the assumption by such entity of the covenants, agreements and
obligations of the Company herein and in the Securities; 

                    (b)
to add to the Events of Default such further Events of Default for the
protection of the Holders of Securities of any or all Series (and, if such
Events of Default are to be for the benefit of less than all the Series of
Securities stating that such Events of Default are being added solely for the
benefit of one or more particular Series); provided, that, in respect of
any such additional Events of Default, such supplemental indenture may provide
for a particular period of grace after default (which period may be shorter or
longer than that allowed in the case of other defaults) or may provide for an
immediate enforcement upon such an Event of Default or may limit the remedies
available to the Trustee upon such an Event of Default or may limit the rights
of the Holders of the applicable Securities upon such an Event of Default; 

                    (c)
to add to the covenants of the Company such further covenants for the
protection of the Holders of Securities of any or all Series (and, if such
additional covenants are to be for the benefit of less than all the Series of
Securities stating that such covenants are being added solely for the benefit
of one or more particular Series), or to surrender any right or power herein
conferred upon the Company with regard to all or any Securities of any or all
Series (and, if such surrender is to be for the benefit of less than all the
Series of Securities stating that such surrender is being added solely for the
benefit of one or more particular Series); 

                    (d)
to cure any ambiguity or to correct or supplement any provision contained
herein or in any supplemental indenture which may be defective or inconsistent
with any other provision contained herein or in any supplemental indenture; or
to make such other provisions in regard to matters or questions arising under
this Indenture or under any supplemental indenture as the Company Board of
Directors may deem necessary or desirable and which shall not materially and
adversely affect the interests of the Holders of the Securities or the Holders
of any Coupons; 

                    (e)
to establish the form, terms and conditions of Securities of any Series, the
Coupons, if any, as permitted by Sections 2.01 and 2.03; 

                    (f)
to evidence and provide for the acceptance of appointment hereunder by a
successor Trustee with respect to the Securities of one or more Series and to
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more
than the one Trustee, pursuant to the requirements of Section 6.11; 

                    (g)
to delete, modify or add provisions of this Indenture, provided that,
except as otherwise contemplated by Section 2.03, such deletion, modification
or addition does not apply to any Outstanding Security of any Outstanding
Security created prior to the date of such supplemental indenture; 

34

                    (h)
to secure, or, if applicable, provide additional security for, any Securities
and to provide for matters relating thereto, and to provide for the release of
any collateral as security for any Securities; or 

                    (i)
to amend or supplement any provision contained herein, which was required to be
contained herein in order for this Indenture to be qualified under the Trust
Indenture Act, if the Trust Indenture Act or regulations thereunder change what
is so required to be included in qualified indentures, in any manner not
inconsistent with what then may be required for such qualification. 

          The
Trustee is hereby authorized to join with the Company in the execution of any
such supplemental indenture, to make any further appropriate agreements and
stipulations which may be therein contained and to accept collateral
thereunder, but the Trustee shall not be obligated to enter into any such
supplemental indenture which affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise. 

          Any
supplemental indenture authorized by the provisions of this Section 8.01 may be
executed without the consent of the Holders of any of the Securities at the
time Outstanding, notwithstanding any of the provisions of Section 8.02. 

               Section
8.02 Supplemental Indentures With
Consent of Securityholders. With the consent (evidenced as provided
in Article 7) of the Holders of not less than a majority in aggregate principal
amount of the Securities at the time Outstanding of each Series affected by
such supplemental indenture (treated as one class), the Company, when authorized
by a Company Board Resolution, and the Trustee may, from time to time and at
any time, enter into an indenture or indentures supplemental hereto (which
shall conform to the provisions of the Trust Indenture Act as in force at the
date of execution thereof) for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture
or of any supplemental indenture or of modifying in any manner the rights of
the Holders of the Securities of each such Series; provided, that the
following modifications and amendments will not be effective against any Holder
without such Holder’s consent: (a) a change in the stated maturity date of any
payment of principal or interest; (b) a reduction in the principal amount of, or
interest on, any Security; (c) an alteration or impairment of the right to
convert at the rate or upon the terms provided in the Indenture; (d) a change
in the Currency in which any payment on the Securities is payable; (e) an
impairment of a Holder’s right to sue the Company for the enforcement of
payments due on the Securities; or (f) a reduction in the percentage of
Outstanding Securities required to consent to a modification or amendment of
the Indenture or required to consent to a waiver of compliance with certain
provisions of the Indenture or certain defaults under the Indenture. 

          Upon
request by the Company pursuant to a Company Order, accompanied by a copy of a
Company Board Resolution authorizing the execution of any such supplemental indenture,
and upon the filing with the Trustee for such Series of Securities of evidence
of the consent of Securityholders as aforesaid and other documents, if any,
required by Section 7.01, the Trustee for such Series of Securities shall join
with the Company in the execution of such supplemental indenture unless such
supplemental indenture affects such Trustee’s own rights, duties or immunities
under this Indenture or otherwise, in which case such Trustee may in its
discretion, but shall not be obligated to, enter into such supplemental
indenture. 

          It
shall not be necessary for the consent of the Securityholders under this
Section 8.02 to approve the particular form of any proposed supplemental
indenture, but it shall be sufficient if such consent shall approve the
substance thereof. 

          Promptly
after the execution by the Company and the Trustee of any supplemental
indenture pursuant to the provisions of this Section 8.02, the Company shall
give notice in the manner and to the extent provided in Section 14.04 to the
Holders of Securities of each Series affected thereby at their addresses as
they shall appear on the Securities register of the Company, setting forth in
general terms the substance of such supplemental indenture. Any failure of the
Company to mail such notice, or any defect therein, shall not, however, in any
way impair or affect the validity of any such supplemental indenture. 

          For
the purposes of this Section 8.02 only, if the Securities of any Series are
issuable upon the exercise of warrants, each holder of an unexercised and
unexpired warrant with respect to such Series shall be deemed to be a Holder of
Outstanding Securities of such Series in the amount issuable upon the exercise
of such warrant. For such 

35

purposes, the ownership of
any such warrant shall be determined by the Company in a manner consistent with
customary commercial practices. The Trustee for such Series shall be entitled
to rely on a Company Officers’ Certificate as to the principal amount of Securities
of such Series in respect of which consents shall have been executed by holders
of such warrants. 

               Section
8.03 Effect of Supplemental Indenture.
Upon the execution of any supplemental indenture pursuant to the provisions
hereof, this Indenture shall be and be deemed to be modified and amended in
accordance therewith and the respective rights, limitations of rights,
obligations, duties and immunities under this Indenture of the Trustee, the
Company and the Holders of Securities of each Series and Holders of Coupons
affected thereby shall thereafter be determined, exercised and enforced
hereunder subject in all respects to such modifications and amendments, and all
the terms and conditions of any such supplemental indenture shall be and be
deemed to be part of the terms and conditions of this Indenture for any and all
purposes. 

               Section
8.04 Documents to Be Given to Trustee.
The Trustee, subject to the provisions of Sections 6.01 and 6.02, shall receive
a Company Officers’ Certificate and an Opinion of Counsel as conclusive
evidence that any supplemental indenture executed pursuant to this Article 8
complies with the applicable provisions of this Indenture. 

               Section
8.05 Notation on Securities in Respect of Supplemental Indentures. Securities of any Series (including any Coupons appertaining thereto),
authenticated and delivered after the execution of any supplemental indenture
pursuant to the provisions of this Article may bear, upon the direction of the
Company, a notation in form satisfactory to the Trustee for the Securities of
such Series as to any matter provided for by such supplemental indenture or as
to any action taken at any such meeting. If the Company or the Trustee shall so
determine, new Securities of any Series (including any Coupons appertaining
thereto), so modified as to conform, in the opinion of the Trustee and the
Company to any modification of this Indenture contained in any such
supplemental indenture may be prepared and executed by the Company,
authenticated by the Trustee and delivered in exchange for the Securities of
such Series then Outstanding. Failure to make the appropriate notation or issue
a new Security will not affect the validity and effect of such amendment,
supplement or waiver.  

ARTICLE 9

CONSOLIDATION, MERGER, SALE OR CONVEYANCE

               Section
9.01 Company May Consolidate, etc., on
Certain Terms.

                    (a)
Nothing contained in this Indenture or in any of the Securities shall prevent
any consolidation or merger of the Company with or into any other entity or
entities (whether or not affiliated with the Company), or successive
consolidations or mergers in which the Company or its successor or successors
shall be a party or parties, or shall prevent any sale, conveyance or lease of
all or substantially all the property of the Company to any other entity
(whether or not affiliated with the Company) authorized to acquire and operate
the same; provided, that in any such case: (i) either the Company shall
be the surviving or continuing entity or the resulting or acquiring entity, if
other than the Company, is organized and existing under the laws of a United
States jurisdiction and assumes all of the Company’s responsibilities and
liabilities under the Indenture, including the payment of all amounts due on
the Securities and performance of the covenants in the Indenture; (ii)
immediately after the transaction, and giving effect to the transaction, no
Event of Default under the Indenture exists; and (iii) the Company has
delivered to the Trustee a Company Officers’ Certificate stating that the
transaction and, if a supplemental indenture is required in connection with the
transaction, the supplemental indenture comply with the Indenture and that all
conditions precedent to the transaction contained in the Indenture have been
satisfied. 

                    (b)
If the Company consolidates or merges with or into any other entity or sells or
leases all or substantially all of the Company’s assets in compliance with the
terms and conditions of this Indenture, the resulting or acquiring entity will
be substituted for the Company in this Indenture and the Securities with the
same effect as if such entity had been an original party to this Indenture and
the Securities. As a result, such successor entity may exercise the Company’s
rights and powers under the Indenture and the Securities, in the Company’s name
and, except in the case of a lease, the Company will be released from all its
liabilities and obligations under the Indenture and under the Securities. 

36

                    (c)
Notwithstanding the foregoing provisions, the Company may transfer all of its
property and assets to another entity if, immediately after giving effect to
the transfer, such entity is a Wholly Owned Subsidiary. 

               Section
9.02 Successor Corporation Substituted.
In case of any such consolidation, merger, sale or conveyance, and following
such an assumption by the successor entity, such successor entity shall succeed
to and be substituted for the Company, with the same effect as if it had been
named herein. Such successor entity may cause to be signed, and may issue
either in its own name or in the name of the Company prior to such succession
any or all of the Securities issuable hereunder which theretofore shall not
have been signed by the Company and delivered to the Trustee; and, upon the
order of such successor entity instead of the Company and subject to all the
terms, conditions and limitations in this Indenture prescribed, the Trustee
shall authenticate and shall deliver any Securities and Coupons, if any,
appertaining thereto which previously shall have been signed and delivered by
the officers of the Company to the Trustee for authentication, and any
Securities which such successor entity thereafter shall cause to be signed and
delivered to the Trustee for that purpose. All of the Securities and Coupons,
if any, appertaining thereto so issued shall in all respects have the same
legal rank and benefit under this Indenture as the Securities and Coupons, if
any, appertaining thereto, theretofore or thereafter issued in accordance with
the terms of this Indenture as though all of such Securities and Coupons, if
any, appertaining thereto had been issued at the date of the execution hereof. 

          In
case of any such consolidation, merger, sale, lease or conveyance such changes
in phraseology and form (but not in substance) may be made in the Securities
and Coupons, if any, appertaining thereto, thereafter to be issued as may be
appropriate. 

          In
the event of any such sale or conveyance (other than a conveyance by way of
lease) by the Company or any successor entity which shall theretofore have
become such in the manner described in this Article Nine, the Company or such
successor entity, as applicable, shall be discharged from all obligations and
covenants under this Indenture and the Securities and may be liquidated and
dissolved. 

               Section
9.03 Opinion of Counsel to Trustee.
The Trustee, subject to the provisions of Sections 6.01 and 6.02, shall receive
an Opinion of Counsel, prepared in accordance with Section 14.05, as conclusive
evidence that any such consolidation, merger, sale, lease or conveyance, and
any such assumption, any such supplemental indenture, and any such liquidation
or dissolution, complies with the applicable provisions of this Indenture. 

ARTICLE 10

SATISFACTION AND DISCHARGE; DEFEASANCE

               Section
10.01 Satisfaction and Discharge of
Indenture. If at any time (a) the Company shall have paid or caused
to be paid the principal of and interest on all the Securities of any Series
and Coupons, if any, appertaining thereto Outstanding hereunder (other than
Securities and Coupons which have been destroyed, lost or stolen and which have
been replaced or paid as provided in Section 2.09) as and when the same shall
have become due and payable, or (b) the Company shall have delivered to the
Trustee for cancellation all Securities of any Series and Coupons, if any,
appertaining thereto theretofore authenticated (other than any Securities of
such Series and Coupons which have been destroyed, lost or stolen and which
shall have been replaced or paid as provided in Section 2.09) or (c) (i) all
the Securities of such Series and Coupons, if any, appertaining thereto not
theretofore delivered to the Trustee for cancellation shall have become due and
payable, or are by their terms to become due and payable within one year or are
to be called for redemption within one year under arrangements satisfactory to
the Trustee for the giving of notice of redemption and (ii) the Company shall
have irrevocably deposited or caused to be deposited with the Trustee as trust
funds the entire amount in the Currency required and/or the required Government
Obligations maturing as to principal and interest in such amounts and at such
times as will, in aggregate, ensure the availability of cash sufficient, in the
opinion of a firm of independent certified public accountants, to pay at
maturity or upon redemption all Securities of such Series and Coupons, if any,
appertaining thereto (other than any Securities of such Series and Coupons, if
any, appertaining thereto which shall have been destroyed, lost or stolen and
which shall have been replaced or paid as provided in Section 2.09) not
theretofore delivered to the Trustee for cancellation, including principal and
interest due or to become due to such date of maturity as the case may be, and
if, in any such case, the Company shall also pay or cause to be paid all other
sums payable hereunder by the Company with respect to Securities of such Series
and Coupons, if any, appertaining thereto, then this Indenture 

37

shall cease to
be of further effect with respect to Securities of such Series and Coupons, if
any, appertaining thereto (except as to (A) rights of registration of transfer
and exchange, and the Company’s right of optional redemption, (B) substitution
of mutilated, defaced, destroyed, lost or stolen Securities and Coupons, (C)
rights of Holders to receive payments of principal thereof and interest thereon
upon the original stated due dates therefor (but not upon acceleration) and
remaining rights of the Holders to receive mandatory sinking fund payments, if
any, (D) the rights, obligations and immunities of the Trustee hereunder, and
(E) the rights of the Securityholders of such Series as beneficiaries hereof
with respect to the property so deposited with the Trustee payable to all or
any of them), and, subject to Section 10.06, the Trustee, upon request by the Company
pursuant to a Company Order accompanied by a Company Officers’ Certificate and
an Opinion of Counsel, shall execute proper instruments acknowledging such
satisfaction and discharge of this Indenture with respect to Securities of such
Series and Coupons, if any, appertaining thereto. 

               Section
10.02 Defeasance and Covenant
Defeasance.

                    (a)
Unless otherwise specified pursuant to Section 2.03, the Securities of any
Series shall be subject to defeasance pursuant to Section 10.02(b) or covenant
defeasance pursuant to Section 10.02(c), in accordance with any applicable
requirements specified pursuant to Section 2.03 and upon compliance with the
conditions set forth below in Section 10.02(d). The Company may elect, at its option,
at any time, to have Section 10.02(b) or Section 10.02(c) applied to any
Securities of any Series so subject to defeasance or covenant defeasance. Any
such election shall be evidenced by a Company Board Resolution or in another
manner specified as contemplated by Section 2.03 for such Securities. 

                    (b)
Upon the Company’s exercise of its option, if any, to have this Section
10.02(b) applied to any Securities of any Series, on and after the date the
conditions set forth in Section 10.02(d) are satisfied, the Company shall be
deemed to have satisfied and discharged the entire indebtedness represented by
such Securities and Coupons, if any, appertaining thereto and to have satisfied
and discharged all of its other obligations under such Securities and Coupons,
if any, appertaining thereto and this Indenture, insofar as such Securities and
Coupons are concerned (“Defeasance”).

          Subject
to compliance with this Section 10.02, the Company may exercise its option, if
any, to have this Section 10.02(b) applied to any Securities notwithstanding
the prior exercise of its option, if any, to have Section 10.02(c) applied to
such Securities. 

          In
connection with Defeasance with respect to any Securities of any Series, the
irrevocable trust agreement contemplated by Section 10.02(d) shall include,
among other things, provision for (a) payment of the principal of and interest
on such Securities and Coupons, if any, appertaining thereto when due (by
redemption, sinking fund payments or otherwise), (b) the payment of the
expenses of the Trustee incurred or to be incurred in connection with carrying
out such trust provisions, (c) rights of registration, transfer, substitution
and exchange of such Securities and Coupons, if any, appertaining thereto in
accordance with the terms stated in this Indenture, and (d) continuation of the
rights, obligations and immunities of the Trustee as against the Holders of
such Securities as stated in this Indenture. 

          Subject
to Section 10.06, the Trustee, upon request of the Company pursuant to a
Company Order accompanied by a Company Officer’s Certificate and Opinion of
Counsel, shall execute proper instruments acknowledging any satisfaction and
discharge pursuant to this Section 10.02(b). 

                    (c)
Upon the Company’s exercise of its option, if any, to have this Section
10.02(c) applied to any Securities of any Series, on and after the date the
conditions set forth in Section 10.02(d) are satisfied (i) the Company shall be
released from such of its obligations and covenants established pursuant to
Section 2.03 for the benefit of the Holders of such Securities as are specified
in the Company Board Resolutions or supplemental indenture establishing such
obligations and covenants, and (ii) the occurrence of any event contemplated by
Section 5.01(c) with respect to such of its obligations and covenants
established pursuant to Section 2.03 for the benefit of the Holders of such
Securities as are specified in the Company Board Resolutions or supplemental
indenture establishing such obligations and covenants or by Section 5.01(f) to
the extent specified in the Company Board Resolutions or supplemental indenture
establishing such event as an Event of Default shall be deemed not to be or
result in an Event of Default, in each case with respect to such Securities (“Covenant Defeasance”) . Upon the 

38

effectiveness of Covenant
Defeasance with respect to any Securities of any Series, with respect to such
Securities, the Company may omit to comply with and shall have no liability in
respect of any of the Company’s obligations and covenants established pursuant
to Section 2.03 for the benefit of the Holders of such Securities as are
specified in the Company Board Resolutions or supplemental indenture establishing
such obligations and covenants, whether directly or indirectly by reason of any
reference elsewhere herein to any such obligation or covenant or by reason of
any reference in any such obligation or covenant to any other provision herein
or in any other document, but, except as provided in the immediately preceding
sentence, the remainder of this Indenture and such Securities of such Series
and Coupons, if any, appertaining thereto shall be unaffected thereby. 

          (d)
The following shall be the conditions to the application of Section 10.02(b) or
Section 10.02(c) to any Securities of any Series: 

	
  

 	
  

 
	
  

 	
                (i)
 The Company shall have irrevocably deposited or caused to be deposited with
 the Trustee at its Corporate Trust Office or such other office as the Trustee
 may designate, under the terms of an irrevocable trust agreement in form and
 substance satisfactory to the Trustee, as trust funds in trust solely for the
 benefit of the Holders of Securities of such Series and Coupons, if any,
 appertaining thereto, (i) immediately available funds in the Currency
 required and/or (ii) the required Government Obligations maturing as to
 principal and interest in such amounts and at such times as are sufficient,
 in the opinion of a firm of independent certified public accountants, without
 consideration of any reinvestment of such principal or interest, to pay the
 principal of and interest in the Currency required on the Outstanding
 Securities of such Series and Coupons, if any, appertaining thereto to
 maturity or redemption, as the case may be, provided that the Trustee
 shall have been irrevocably instructed to apply such money or the proceeds of
 such Government Obligations to the payment of said principal of and interest
 on the Outstanding Securities of such Series and Coupons, if any,
 appertaining thereto. 

 
	
  

 	
  

 
	
  

 	
                (ii)
 In the event of an election to have Section 10.02(b) apply to any Securities
 of any Series, the Company shall have delivered to the Trustee an Opinion of
 Counsel to the effect that the Holders of such Securities and Coupons, if
 any, appertaining thereto will not recognize income, gain or loss for federal
 income tax purposes as a result of the Defeasance to be effected with respect
 to such Securities and will be subject to federal income tax on the same
 amount, in the same manner and at the same times as would be the case if such
 Defeasance had not occurred. 

 
	
  

 	
  

 
	
  

 	
                (iii)
 In the event of an election to have Section 10.02(c) apply to any Securities
 of any Series, the Company shall have delivered to the Trustee an Opinion of
 Counsel to the effect that the Holders of such Securities and Coupons, if
 any, appertaining thereto will not recognize income, gain or loss for federal
 income tax purposes as a result of the Covenant Defeasance to be effected
 with respect to such Securities and will be subject to federal income tax on
 the same amount, in the same manner and at the same times as would be the
 case if such Covenant Defeasance had not occurred. 

 

               Section
10.03 Application by Trustee of Funds
Deposited for Payment of Securities. Subject to Section 10.05, all
moneys deposited with the Trustee pursuant to this Article 10 shall be held in
trust and applied by it to the payment, either directly or through any Paying
Agent (including the Company acting as its own Paying Agent), to the Holders of
the particular Securities of such Series and Coupons, if any, appertaining
thereto for the payment or redemption of which such moneys have been deposited
with the Trustee, of all sums due and to become due thereon for principal and
interest; but such money need not be segregated from other funds except to the
extent required by law. 

               Section
10.04 Repayment of Moneys Held by Paying
Agent. In connection with the satisfaction and discharge of this
Indenture with respect to Securities of any Series or Coupons, if any,
appertaining thereto, all moneys then held by any Paying Agent under the
provisions of this Indenture with respect to such Series of Securities or
Coupons, if any, appertaining thereto, shall, upon a Company Order, be repaid
to it or paid to the Trustee and thereupon such Paying Agent shall be released
from all further liability with respect to such moneys. 

               Section
10.05 Return of Unclaimed Moneys Held by
Trustee and Paying Agent. Anything in this Article 10 to the
contrary notwithstanding, any moneys deposited with or paid to the Trustee or
any Paying Agent for the payment of the principal of or interest on any
Security of any Series or Coupons, if any, appertaining thereto and not 

39

applied but
remaining unclaimed for two years after the date upon which such principal or
interest shall have become due and payable, shall, upon direction by the Company
pursuant to a Company Order unless otherwise required by mandatory provisions
of applicable escheat or abandoned or unclaimed property law, be repaid to the
Company by the Trustee for such Series or such Paying Agent, and the Holder of
the Security of such Series or Holders of Coupons appertaining thereto shall,
unless otherwise required by mandatory provisions of applicable escheat or
abandoned or unclaimed property laws, thereafter look only to the Company for
any payment which such Holder may be entitled to collect, and all liability of
the Trustee or any Paying Agent with respect to such moneys shall thereupon
cease. 

               Section
10.06 Reinstatement of Obligations.
If the Trustee is unable to apply any funds or Government Obligations in accordance
with this Article 10 by reason of any legal proceeding or by reason of any
order or judgment of any court or governmental authority enjoining, restraining
or otherwise prohibiting such application or by reason of the Trustee’s
inability to convert any such funds or Government Obligations into the Currency
required to be paid with respect to any Securities of any Series and Coupons,
if any, appertaining thereto, the obligations of the Company under this
Indenture and the Securities and Coupons for which such application is
prohibited, shall be revived and reinstated as if no deposit had occurred
pursuant to this Article 10 until such time as the Trustee is permitted to
apply all such funds or Government Obligations in accordance with this Article
10 or is able to convert all such funds or Government Obligations; provided,
however, that, if the Company has made any payment of interest on or
principal of any of such Securities or Coupons because of the reinstatement of
its obligations, the Company shall be subrogated to the rights of the Holders
of such Securities or Coupons to receive such payment from the funds or
Government Obligations held by the Trustee. 

ARTICLE 11

REDEMPTION OF SECURITIES

               Section
11.01 Notice of Redemption; Partial Redemptions.
Notice of redemption to the Holders of Securities of any Series to be redeemed
as a whole or in part at the option of the Company shall be given by giving
notice of such redemption as provided in Section 14.04, at least 30 days and
not more than 60 days prior to the date fixed for redemption to such Holders of
Securities of such Series. Failure to give notice by mail to the Holder of any
Security of a Series designated for redemption as a whole or in part, or any
defect in such notice, shall not affect the validity of the proceedings for the
redemption of any other Security of such Series. 

          The
notice of redemption to each such Holder shall identify the Securities to be
redeemed (including “CUSIP” or “ISIN” numbers, if any), specify the date fixed
for redemption, the redemption price, each Place of Payment, that payment will
be made upon presentation and surrender of such Securities, and that, unless
otherwise specified in such notice, Coupon Securities, if any, surrendered for
payment must be accompanied by all Coupons maturing subsequent to the
redemption date, failing which the amount of any such missing Coupon or Coupons
will be deducted from the sum due for payment, that such redemption is pursuant
to the mandatory or optional sinking fund, or both, if such be the case, that
interest accrued to the date fixed for redemption will be paid as specified in
such notice and that on and after said date interest thereon or on the portions
thereof to be redeemed will cease to accrue, the conversion rate or price, the
date on which the right to convert the Securities to be redeemed will terminate
and each place where such Securities may be surrendered for conversion, if
applicable, and that, if less than all of the Outstanding Securities of a Series
are to be redeemed, the identification and principal amount of the Securities
to be redeemed. If less than all of the Securities of any Series are to be
redeemed, the notice of redemption shall specify the numbers of the Securities
of such Series to be redeemed, and, if only Unregistered Securities of any
Series are to be redeemed, and if such Unregistered Securities may be exchanged
for Registered Securities, the last date on which exchanges of Unregistered
Securities for Registered Securities not subject to redemption may be made. In
case any Security of a Series is to be redeemed in part, the notice of
redemption shall state the portion of the principal amount thereof to be
redeemed and shall state that on and after the date fixed for redemption, upon
surrender of such Security and Coupons, if any, appertaining thereto, a new
Security or Securities of such Series in principal amount equal to the
unredeemed portion thereof with appropriate Coupons will be issued. 

          The
notice of redemption of Securities of any Series to be redeemed at the option
of the Company shall be given by the Company or, upon direction by the Company
pursuant to a Company Order, by the Trustee in the name 

40

and at the expense of the
Company. The Company shall give the Trustee at least 45 days prior written
notice of any redemption hereunder, unless a shorter period shall be
satisfactory to the Trustee. 

          Not
later than 9:00 a.m., New York time, on the redemption date specified in the
notice of redemption given as provided in this Section 11.01, the Company will
have on deposit with the Trustee or with one or more paying agents (or, if the
Company is acting as its own Paying Agent, set aside, segregate and hold in
trust as provided in Section 3.04) an amount of money in the Currency in which
the Securities of such Series and Coupons, if any, appertaining thereto are
payable (except as otherwise specified pursuant to Section 2.03 and except as
provided in Sections 2.12(b), (e) and (f) of this Indenture) sufficient to
redeem on the redemption date all the Securities of such Series so called for
redemption at the appropriate redemption price, together with accrued interest
to the date fixed for redemption. If any Security to be redeemed is converted
into Common Stock or Preferred Stock, any money deposited with the Trustee or
with any Paying Agent or so segregated and held in trust for the redemption of
such Security shall (subject to any right of the Holder of such Security or any
predecessor Security to receive interest as provided in the last paragraph of
Section 2.07) be paid to the Company upon direction by the Company pursuant to
a Company Order or, if then held by the Company, shall be discharged from such
trust. If less than all the Outstanding Securities of a Series are to be
redeemed, the Company will deliver to the Trustee at least 60 days prior to the
date fixed for redemption a Company Officers’ Certificate stating the aggregate
principal amount of Securities to be redeemed, unless a shorter period shall be
satisfactory to the Trustee. 

          If
less than all the Securities of a Series are to be redeemed, and the Securities
are not held in global form pursuant to Section 2.15, the Trustee shall select,
in such manner as it shall deem appropriate and fair, Securities of such Series
to be redeemed in whole or in part. Securities may be redeemed in part in
multiples equal to the minimum authorized denomination for Securities of such
Series. The Trustee shall promptly notify the Company in writing of the Securities
of such Series selected for redemption and, in the case of any Securities of
such Series selected for partial redemption, the principal amount thereof to be
redeemed. For all purposes of this Indenture, unless the context otherwise
requires, all provisions relating to the redemption of Securities of any Series
shall relate, in the case of any Security redeemed or to be redeemed only in
part, to the portion of the principal amount of such Security which has been or
is to be redeemed. If any Security to be redeemed in part is converted in part
before termination of the conversion right with respect to the portion of the
Security so selected, the converted portion of such Security shall be deemed
(so far as may be) to be the portion selected for redemption. Securities (or
portions thereof) which have been converted during a selection of Securities to
be redeemed shall be treated by the Trustee as Outstanding for the purpose of
such selection. In any case where more than one Security is registered in the same
name, the Trustee in its discretion may treat the aggregate principal amount so
registered as if it were represented by one Security. 

               Section
11.02 Payment of Securities Called for Redemption. If notice of redemption
has been given as above provided, the Securities or portions of Securities
specified in such notice shall become due and payable on the date and at the
place stated in such notice at the applicable redemption price, together with
interest accrued to the date fixed for redemption, and on and after said date
(unless the Company shall default in the payment of such Securities at the
redemption price, together with interest accrued to said date) interest on the
Securities or portions of Securities so called for redemption shall cease to
accrue and, except as provided in Sections 6.05 and 10.04, such Securities
shall cease from and after the date fixed for redemption to be entitled to any
benefit or security under this Indenture, and the Holders thereof shall have no
right in respect of such Securities except the right to receive the redemption
price and unpaid interest to the date fixed for redemption. On presentation and
surrender of such Securities at a Place of Payment specified in said notice,
such Securities or the specified portions thereof shall be paid and redeemed by
the Company at the applicable redemption price, together with interest accrued
thereon to the date fixed for redemption; provided that any semiannual
payment of interest on Registered Securities becoming due on the date fixed for
redemption shall be payable to the Holders of such Securities registered as
such on the relevant record date subject to the terms and provisions of Section
2.03.  

          If
any Coupon Security surrendered for redemption shall not be accompanied by all
appurtenant Coupons maturing on or after the date fixed for redemption, such
Security may be paid after deducting from the redemption price an amount equal
to the face amount of all such missing Coupons or the surrender of such missing
Coupon or Coupons may be waived by the Company and the Trustee, if there be
furnished to them such security or indemnity as they may require to save each
of them and any Paying Agent harmless. If thereafter the Holder of such
Security shall surrender to any Paying Agent any missing Coupon in respect of
which a deduction shall have been made from 

41

the redemption price, such
Holder shall be entitled to receive the amount so deducted; provided, however,
that, unless otherwise provided pursuant to Section 2.03, interest represented
by Coupons shall be payable only upon presentation and surrender of those
Coupons at an office or agency located outside of the United States of America.

          If
any Security called for redemption shall not be so paid upon surrender thereof
for redemption, the principal shall, until paid or duly provided for, bear
interest from the date fixed for redemption at the rate of interest borne by
the Security. 

          Upon presentation of any
Security redeemed in part only and the Coupons appertaining thereto, the
Company shall execute and the Trustee shall authenticate and deliver to or on
the order of the Holder thereof, at the expense of the Company, a new Security
or Securities and the Coupons appertaining thereto of authorized denominations,
in principal amount equal to the unredeemed portion of the Security so
presented. 

               Section
11.03 Exclusion of Certain Securities
from Eligibility for Selection for Redemption. Securities shall be
excluded from eligibility for selection for redemption if they are identified
by registration and certificate number in a written statement signed by an
authorized officer of the Company and delivered to the Trustee at least 40 days
prior to the last date on which notice of redemption may be given as being
owned of record and beneficially by, and not pledged or hypothecated by, either
(a) the Company or (b) an entity specifically identified in such written
statement directly or indirectly controlling or controlled by or under direct
or indirect common control with the Company. 

               Section
11.04 Repayment at the Option of the
Holders. Securities of any Series which are repayable at the option
of the Holders thereof before their stated maturity shall be repaid in
accordance with the terms of the Securities of such Series. The repayment of
any principal amount of Securities pursuant to such option of the Holder to
require repayment of Securities before their stated maturity, for purposes of
Section 10.01, shall not operate as a payment, redemption or satisfaction of
the indebtedness represented by such Securities unless and until the Company,
at its option, shall deliver or surrender the same to the Trustee with a
directive that such Securities be cancelled. 

ARTICLE 12

HOLDERS’ MEETINGS

               Section
12.01 Purposes of Meetings. A
meeting of Holders of Securities of any or all Series may be called at any time
and from time to time pursuant to the provisions of this Article 12 for any of
the following purposes: 

                    (a)
to give any notice to the Company or the Trustee for the Securities of such
Series, or to give any directions to the Trustee for such Series, or to consent
to the waiving of any default hereunder and its consequences, or to take any
other action authorized to be taken by Holders pursuant to any of the
provisions of Article 5; 

                    (b)
to remove the Trustee for such Series and nominate a successor Trustee pursuant
to the provisions of Article 6; 

                    (c)
to consent to the execution of an indenture or indentures supplemental hereto
pursuant to the provisions of Section 8.02; and 

                    (d)
to take any other action authorized to be taken by or on behalf of the Holders
of any specified aggregate principal amount of the Securities of any one or
more or all Series, as the case may be, under any provision of this Indenture
or under applicable law. 

               Section
12.02 Call of Meetings by Trustee.
The Trustee for the Securities of any Series may at any time call a meeting of
Holders of Securities of such Series to take any action specified in Section
12.01, to be held at such time and at such place in Minneapolis, Minnesota, or
such other city within the United States of America in which there is a Place
of Payment as the Trustee for such Series shall determine. Notice of every
meeting of the Holders of Securities of any Series, setting forth the time and
the place of such meeting and in general terms the action 

42

proposed to be
taken at such meeting, shall be given to Holders of Securities of such Series
in the manner and to the extent provided in Section 14.04. Such notice shall be
given not less than 20 nor more than 90 days prior to the date fixed for the
meeting. 

               Section
12.03 Call of Meetings by Company or
Holders. In case at any time the Company, pursuant to a Company
Board Resolution or the Holders of not less than 10% in aggregate principal
amount of the Outstanding Securities of any or all Series, as the case may be,
shall have requested the Trustee for such Series to call a meeting of Holders
of Securities of any or all Series, as the case may be, by written request
setting forth in reasonable detail the action proposed to be taken at the
meeting, and the Trustee for such Series shall not have given the notice of
such meeting within 20 days after receipt of such request, then the Company or
such Holders may determine the time and the place in Minneapolis, Minnesota, or
such other city within the United States of America in which there is a Place
of Payment for such meeting and may call such meeting to take any action
authorized in Section 12.01, by giving notice thereof as provided in Section
12.02. 

               Section
12.04 Qualifications for Voting.
To be entitled to vote at any meeting of Holders, a Person shall be (a) a
Holder of one or more Securities with respect to which such meeting is being
held or (b) a Person appointed by an instrument in writing as proxy by such
Holder. The only Persons who shall be entitled to be present or to speak at any
meeting of Holders shall be the Persons entitled to vote at such meeting and
their counsel and any representatives of the Trustee for the Securities of the
Series with respect to which such meeting is being held and its counsel and any
representatives of the Company and its counsel. 

               Section
12.05 Regulations.
Notwithstanding any other provisions of this Indenture, the Trustee for the
Securities of any Series may make such reasonable regulations as it may deem
advisable for any meeting of Holders of the Securities of such Series, in
regard to proof of the holding of Securities of such Series and of the
appointment of proxies, and in regard to the appointment and duties of
inspectors of votes, the submission and examination of proxies, certificates
and other evidence of the right to vote, and such other matters concerning the
conduct of the meeting as it shall think fit. 

          The
Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders
of the Securities of such Series as provided in Section 12.03, in which case
the Company or the Holders calling the meeting, as the case may be, shall in
like manner appoint a temporary chairman. A permanent chairman and a permanent
secretary of the meeting shall be elected by majority vote of the meeting. 

          Subject
to Section 7.04, at any meeting each Holder of Securities with respect to which
such meeting is being held or proxy therefore shall be entitled to one vote for
each $1,000 (or the equivalent in the Currency in which such Securities are
denominated, as determined pursuant to Section 14.11) principal amount (in the
case of the Original Issue Discount Securities, such principal amount to be
determined as provided in Section 14.11) of Securities held or represented by
such Holder. However, no vote shall be cast or counted at any meeting in
respect of any such Security challenged as not Outstanding and ruled by the
chairman of the meeting to be not Outstanding. The chairman of the meeting
shall have no right to vote other than by virtue of the Securities of such
Series held by him or instruments in writing aforesaid duly designating him as
the Person to vote on behalf of other Holders of such Series. At any meeting of
Holders, the presence of Persons holding or representing Securities with
respect to which such meeting is being held in an aggregate principal amount
sufficient to take action on the business for the transaction of which such
meeting was called shall constitute a quorum, but, if less than a quorum is
present, the Persons holding or representing a majority in aggregate principal
amount of such Securities represented at the meeting may adjourn such meeting
with the same effect, for all intents and purposes, as though a quorum had been
present. Any meeting of Holders of Securities with respect to which a meeting
was duly called pursuant to the provisions of Section 12.02 or Section 12.03
may be adjourned from time to time by a majority of such Holders present,
whether or not constituting a quorum, and the meeting may be held as so
adjourned without further notice. 

               Section
12.06 Voting. The vote upon
any resolution submitted to any meeting of Holders of Securities with respect
to which such meeting is being held shall be by written ballots on which shall
be subscribed the signatures of such Holders or of their representatives by
proxy and the identifying number or numbers of the Securities held or represented
by them. The chairman of the meeting shall appoint two inspectors of votes who
shall count all votes cast at the meeting for or against any resolution and who
shall make and file with the secretary of the meeting their 

43

verified
written reports in duplicate of all votes cast at the meeting. A record in
duplicate of the proceedings of each meeting of Holders shall be prepared by
the secretary of the meeting and there shall be attached to such record the
original reports of the inspectors of votes on any vote by ballot taken thereat
and affidavits by one or more Persons having knowledge of the facts setting
forth a copy of the notice of the meeting and showing that such notice was
given in the manner and to the extent provided in Section 14.4. The record
shall show the identifying numbers of the Securities voting in favor of or
against any resolution. The record shall be signed and verified by the
affidavits of the chairman and secretary of the meeting and one of the
duplicates shall be delivered to the Company and the other to the Trustee to be
preserved by the Trustee. 

          Any
record so signed and verified shall be conclusive evidence of the matters
therein stated. 

               Section
12.07 No Delay of Rights by Meeting.
Nothing in this Article 12 shall be deemed or construed to authorize or permit,
by reason of any call of a meeting of Holders or any rights expressly or
impliedly conferred hereunder to make such call, any hindrance or delay in the
exercise of any right or rights conferred upon or reserved to the Trustee or to
the Holders under any of the provisions of this Indenture or of the Securities
of any Series. 

ARTICLE 13

SECURITY

          If
so provided pursuant to Section 2.03 with respect to the Securities of any
Series, the Securities of such Series may be secured by such property, assets
or other collateral as may be specified in or pursuant to Section 2.03. Any and
all terms and provisions applicable to the security for the Securities of such
Series shall also be provided in or pursuant to Section 2.03, which may include
provisions for the execution and delivery of such security agreements, pledge
agreements, collateral agreements and other similar or related agreements as
the Company may elect and which may provide for the Trustee to act as
collateral agent or in a similar or other capacity. The Trustee shall comply
with Sections 313(a)(5) and (6) and 313(b)(1) of the Trust Indenture Act and
the Company shall comply with Sections 314(b), 314(c) and 314(d) of the Trust
Indenture Act, in each case in respect of any secured Securities that may be
Outstanding hereunder from time to time. 

ARTICLE 14

MISCELLANEOUS PROVISIONS

               Section
14.01 Incorporators, Stockholders,
Officers and Directors of Company Exempt from Individual Liability.
No recourse under or upon any obligation, covenant or agreement contained in
this Indenture, in any Security or Coupon appertaining thereto, or because of
any indebtedness evidenced thereby, shall be had against any incorporator, as
such or against any past, present or future stockholder, officer or director,
as such, of the Company or of any predecessor or successor to the Company,
either directly or through the Company or any such predecessor or successor,
under any rule of law, statute or constitutional provision or by the
enforcement of any assessment or by any legal or equitable proceeding or
otherwise, all such liability being expressly waived and released by the
acceptance of the Securities and Coupons, if any, appertaining thereto, by the
Holders thereof and as part of the consideration for the issue of the
Securities; it being expressly understood that, without limitation to the
foregoing, this Indenture and the Securities and the obligations created
hereunder and thereunder are solely corporate, limited liability company,
partnership, limited partnership or entity obligations, as the case may be, of
the Company and that no such personal liability whatever shall attach to, or is
or shall be incurred by, any past, present or future stockholder, incorporator,
employee, officer or director, as such, of the Company or any of its respective
predecessors or successors, or any of them, because of the creation of the
indebtedness hereby authorized, or under or by reason of the obligations, covenants
or agreements contained in this Indenture or in any Security or implied
herefrom or therefrom and that any and all such personal liability of every
type and nature, either at common law or in equity or by constitution or
statute, of, and any and all such rights and claims against, every such past,
present or future stockholder, incorporator, employee, officer or director, as
such, because of the creation of the indebtedness hereby authorized, or under
or by reason of the obligations, covenants or agreements contained in this
Indenture or in any Security or implied herefrom or therefrom, are hereby
expressly waived and released as a condition of, and as a consideration for,
the execution of this Indenture and the issuance of the Securities. As used in
this Section 14.1, all references to “stockholders”
shall be deemed to mean, with respect to any Person, any past, present or
future 

44

holder or
owner of an equity interest in such Person, including owners or holders of
capital stock, limited or general partnership interests and limited liability
company interests. 

               Section
14.02 Provisions of Indenture for the
Sole Benefit of Parties and Securityholders. Nothing in this
Indenture or in any Security or Coupon, if any, appertaining thereto, expressed
or implied, shall give or be construed to give to any Person, other than the
parties hereto, any Paying Agent and their successors hereunder and the Holders
of the Securities and Coupons, if any, appertaining thereto any legal or
equitable right, remedy or claim under this Indenture or under any covenant or
provision herein contained, all such covenants and provisions being for the
sole benefit of the parties hereto and their successors and of the Holders of
the Securities and Coupons. 

               Section
14.03 Successors and Assigns of Company
Bound by Indenture. All the covenants, stipulations, promises and
agreements in this Indenture by or on behalf of the Company shall bind its
successors and assigns, whether so expressed or not. 

               Section
14.04 Notices and Demands on Company,
Trustee and Securityholders. Any notice or demand which by any
provision of this Indenture is required or permitted to be given or served by
the Trustee, by the Holders of Securities, or by the Holders of Coupons to or
on the Company may be given or served by being deposited postage prepaid,
first-class mail (except as otherwise specifically provided herein) addressed
(until another address of the Company is filed by the Company with the Trustee)
to the Company at 294 Grove Lane East, Wayzata, Minnesota 55391, Attention:
Chief Financial Officer. Any Company Order or notice by the Company, or any
notice, direction, request or demand by Securityholder to or upon the Trustee
shall be deemed to have been sufficiently given or made, for all purposes, if
given or made at the Corporate Trust Office. 

          Where
this Indenture provides for notice to Holders of any event, (a) if any of the
Securities affected by such event are Registered Securities, such notice shall
be sufficiently given (unless otherwise herein expressly provided) if in
writing and mailed by first-class mail, postage prepaid to such Registered
Holders as their names and addresses appear in the Security register within the
time prescribed and (b) if any of the Securities affected by such event are
Unregistered Securities or Coupon Securities, such notice shall be sufficiently
given (unless otherwise herein expressly provided) if published once in a
newspaper of general circulation in New York, New York, within the time
prescribed. Where this Indenture provides for notice in any manner, such notice
may be waived in writing by the Person entitled to receive such notice, either
before or after the event, and such waiver shall be the equivalent of such
notice. Waivers of notice by Holders shall be filed with the Trustee, but such
filing shall not be a condition precedent to the validity of any action taken
in reliance upon such waiver. In any case where notice to Holders is given by
mail, neither the failure to mail such notice nor any defect in any notice so
mailed to any particular Holder shall affect the sufficiency of such notice
with respect to other Holders, and any notice which is mailed in the manner
herein provided shall be conclusively presumed to have been duly given. 

          In
the event that the suspension of or irregularities in regular mail service
makes it impracticable to mail notice to the Company and the Securityholders
when such notice is required to be given pursuant to any provision of this
Indenture, then any manner of giving such notice as shall be satisfactory to
the Trustee shall be deemed to be a sufficient giving of such notice. 

               Section
14.05 Officers’ Certificates and
Opinions of Counsel; Statements to Be Contained Therein. Upon any
application or demand by the Company to the Trustee to take any action under
any of the provisions of this Indenture, the Company shall furnish to the
Trustee a Company Officers’ Certificate stating that all conditions precedent
provided for in this Indenture relating to the proposed action have been
complied with and an Opinion of Counsel stating that in the opinion of such
counsel all such conditions precedent have been complied with, except that in
the case of any such application or demand as to which the furnishing of such
documents is specifically required by any provision of this Indenture relating
to such particular application or demand, no additional certificate or opinion
need be furnished. 

          Each
certificate or opinion provided for in this Indenture and delivered to the
Trustee with respect to compliance with a condition or covenant provided for in
this Indenture shall include (a) a statement that the Person making such
certificate or opinion has read such covenant or condition, (b) a brief
statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such certificate or opinion are
based, (c) a statement that, in the opinion of such Person, he has made such
examination or investigation 

45

as is necessary to enable
him to express an informed opinion as to whether or not such covenant or
condition has been complied with, and (d) a statement as to whether or not, in
the opinion of such Person, such condition or covenant has been complied with. 

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

          Any
certificate, statement or opinion of an officer of the Company or of counsel
may be based, insofar as it relates to accounting matters, upon a certificate
or opinion of or representations by an accountant or firm of accountants in the
employ of the Company, unless such officer or counsel, as the case may be,
knows that the certificate or opinion or representations with respect to the
accounting matters upon which his certificate, statement or opinion may be
based as aforesaid are erroneous, or in the exercise of reasonable care should
know that the same are erroneous. 

          Any
certificate or opinion of any independent firm of public accountants filed with
the Trustee shall contain a statement that such firm is independent. 

               Section
14.06 Payments Due on Saturdays, Sundays
and Holidays. If the date of maturity of interest on or principal of
the Securities of any Series or Coupons, if any, appertaining thereto or the
date fixed for redemption or repayment of any such Security or Coupon shall not
be a Business Day, then payment of interest or principal need not be made on
such date, but may be made on the next succeeding Business Day with the same
force and effect as if made on the date of maturity or the date fixed for
redemption, and no interest shall accrue on amounts payable on such date for
the period from and after such date to the next succeeding Business Day. 

               Section
14.07 Conflict of Any Provision of
Indenture with Trust Indenture Act. If and to the extent that any
provision of this Indenture limits, qualifies or conflicts with another
provision included in this Indenture which is required to be included herein by
any of Sections 310 to 317, inclusive, of the Trust Indenture Act, such
required provision shall control. 

               Section
14.08 New York Law to Govern.
This Indenture and each Security shall be deemed to be a contract under the
laws of the State of New York, and for all purposes shall be construed in
accordance with the laws of such State. 

               Section
14.09 Counterparts. This
Indenture may be executed in any number of counterparts, each of which shall be
an original; but such counterparts shall together constitute but one and the
same instrument. 

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

               Section
14.11 Determination of Principal Amount.
In determining whether the Holders of the requisite principal amount of
Outstanding Securities of any Series have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, whether a quorum
is present at a meeting of Holders of Securities or whether sufficient funds
are available for redemption or for any other purpose, the principal amount of
an Original Issue Discount Security that shall be deemed to be Outstanding for
such purposes shall be the amount of the principal thereof that would be due
and payable as of the date of such determination upon a declaration of
acceleration of the maturity thereof pursuant to Section 5.01 and the principal
amount of any Securities denominated in a Foreign 

46

Currency that
shall be deemed to be Outstanding for such purposes shall be determined by
converting the Foreign Currency into Dollars at the Market Exchange Rate as of
the date of such determination. 

               Section
14.12 Waiver. With respect to
the Outstanding Securities of any Series, the Holders of not less than a
majority in aggregate principal amount of the Securities of such Series at the
time Outstanding may on behalf of the Holders of all the Securities of such
Series and Holders of all Coupons, if any, appertaining thereto: (a) waive
compliance by the Company with any restrictive provisions in this Indenture;
and (b) waive any past default under this Indenture as provided in Section
5.10. 

               Section
14.13 Force Majeure. In no
event shall the Trustee be responsible or liable, nor shall the Company be
responsible or liable to the Trustee, for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly
or indirectly, forces beyond its control, including strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or
natural catastrophes or acts of God, and interruptions, loss or malfunctions of
utilities, communications or computer (software and hardware) services; it
being understood that the Trustee or the Company, as the case may be, shall use
reasonable efforts which are consistent with accepted practices to resume
performance as soon as practicable under the circumstances. 

               Section
14.14 Waiver of Jury Trial.
THE COMPANY, THE TRUSTEE AND EACH HOLDER OF A SECURITY, BY ITS ACCEPTANCE
THEREOF, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE
TRANSACTIONS CONTEMPLATED HEREBY. 

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

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 DAKOTA PLAINS HOLDINGS,
 INC.

 
	
  

 	
  

 
	
  

 	
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47

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