Document:

Exhibit
10.16

       

      Unofficial Summary Translation

    

    

    
      Institute
of Microbiology, Chinese Academy of Sciences

    

    
      Laiyang
Jiangbo Pharmaceutical Co. Ltd

    

    
      Pharmaceutical
Industrialization Joint Base Agreement

    

    

    Party A:
Institute of Microbiology, Chinese Academy of Sciences (IMCAS)

    Party B:
Laiyang Jiangbo Pharmaceutical Co, .Ltd.

    

    Under the
background of National "Eleventh Five-Year Plan" program, IMCAS actively
promotes the industrialization of scientific research to utilize its own
advantages adequately and implements the policy of IMCAS and the knowledge
innovation project. With the foundation of continuous improved yearly production
value and revenues, Laiyang Jiangbo Pharmaceutical Co. Ltd. focuses on
strengthening the basic research of biomedical industrial in order to achieve a
new level. Therefore, both parties reached the agreement to form the “Joint
base of industrialization, Institute of Microbiology, Chinese Academy of
Sciences-Laiyang Jiangbo Pharmaceutical Co. Ltd” with the formation of good
cooperative research system in order to promote the further development of bio-
pharmaceutical industry with the approach of joining enterprise and institute.
This agreement is signed for the implementation of this
cooperation.

    

    
      	
              A.

            	
              Name
      of the Joint base of
industrialization

            

    

    Joint
base of industrialization, Institute of Microbiology, Chinese Academy of
Sciences – Laiyang Jiangbo Pharmaceutical Co, Ltd

    

    
      	
              B.

            	
              Operation
      model of the Joint base of
industrialization

            

    

    
      	
              1.

            	
              Joint
      base of industrialization will be licensed and operated at Party
      B.

            

    

    
      	
              2.

            	
              Party
      A and Party B should both assign a representative to take responsibility
      for the work of joint base of industrialization. Both of Party A and Party
      B can recruit related employees in accordance with
      requirement.

            

    

    
      	
              3.

            	
              The
      joint base should hold at least one working conference or academic
      exchange every year and both parties’ research and managerial personnel
      should participate the conference or academic
  exchange.

            

    

    

    
      	
              C.

            	
              Responsibilities
      of both Party

            

    

    
      	
              1.

            	
              Party
      A.

            

    

    
      	
              a.

            	
              Give
      Party B the priority to get the transferable technological
      achievements.

            

    

    
      	
              b.

            	
              Cultivate
      post-doctoral or master and doctoral students and training related
      technical staff for Party B. Related expenses will be negotiated by both
      parties.

            

    

    
      	
              c.

            	
              Within
      the scientific research scope of IMCAS, Party A will solve the problems
      encountered in Party B’s production process for Party B; specific issues
      will be resolved by other agreements between the two
    parties.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              d.

            	
              Both
      parties should apply for national and local projects (such as 863 projects
      etc). Party A shall provide party B technical
  support.

            

    

    

    
      	
              2. 

            	
              Party
      B.

            

    

    a.
Provide party A related industrial technological achievements transformation
platform.

    b.
Provide RMB 6,000,000 per year operating expenses for the Joint base of
industrialization.

    c. Bear
enterprise related responsibilities during the application process of national
and local projects.

    

    
      	
              D.

            	
              Cooperation
      period

            

    

    The
agreement is for five years (November 2006 till November 2010). Both
parties will renegotiate the terms after the contract expires.

    

    
      
        	
                E.

              	
                Others

              

      

    

    
      	
               
      

            	
              1.

            	
              Matters
      not mentioned herein and other possible disputes occurred during the
      operation process of the cooperative library shall be decided through
      mutual negotiations.

            

    

    
      	
               
      

            	
              2.

            	
              This
      agreement shall be validated with the representatives from both
      parties’ signatures and seals. This agreement has four copies, two
      copies for both sides with same legal
effect.

            

    

    

    Party A
(Representative): (Seal)   

    Institute
of Microbiology, Chinese Academy of Sciences

    November
12, 2007

     

    Party B
(Representative): (Seal)

    Laiyang
Jiangbo Pharmaceutical Co. Ltd.

    November
12, 2007Unassociated Document

     

    Exhibit 4.1

     

    Bolt
Technology Corporation

     

    and

     

                                                        ,
as Trustee

     

    
      
        

      

    

     

    INDENTURE

     

    Dated
as of
                            ,

    
       

        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

    

    

    TABLE
OF CONTENTS

     

    
      
        
          
            	 
      	 
      	
                    Page

                  
	 
      	 
      	 
      
	
                    ARTICLE
      1

                  	
                    DEFINITIONS
      AND INCORPORATION BY REFERENCE

                  	
                    1

                  
	 
      	 
      	 
      
	
                    1.1

                  	
                    Definitions

                  	
                    1

                  
	 
      	 
      	 
      
	
                    1.2

                  	
                    Other
      Definitions

                  	
                    5

                  
	 
      	 
      	 
      
	
                    1.3

                  	
                    Incorporation
      by Reference of Trust Indenture Act

                  	
                    6

                  
	 
      	 
      	 
      
	
                    1.4

                  	
                    Rules of
      Construction

                  	
                    6

                  
	 
      	 
      	 
      
	
                    ARTICLE
      2

                  	
                    THE
      SECURITIES

                  	
                    7

                  
	 
      	 
      	 
      
	
                    2.1

                  	
                    Issuable
      in Series

                  	
                    7

                  
	 
      	 
      	 
      
	
                    2.2

                  	
                    Establishment
      of Terms of Series of Securities

                  	
                    7

                  
	 
      	 
      	 
      
	
                    2.3

                  	
                    Execution
      and Authentication

                  	
                    10

                  
	 
      	 
      	 
      
	
                    2.4

                  	
                    Registrar
      and Paying Agent

                  	
                    11

                  
	 
      	 
      	 
      
	
                    2.5

                  	
                    Paying
      Agent To Hold Assets in Trust

                  	
                    12

                  
	 
      	 
      	 
      
	
                    2.6

                  	
                    Securityholder
      Lists

                  	
                    12

                  
	 
      	 
      	 
      
	
                    2.7

                  	
                    Transfer
      and Exchange

                  	
                    12

                  
	 
      	 
      	 
      
	
                    2.8

                  	
                    Replacement
      Securities

                  	
                    13

                  
	 
      	 
      	 
      
	
                    2.9

                  	
                    Outstanding
      Securities

                  	
                    14

                  
	 
      	 
      	 
      
	
                    2.10

                  	
                    Treasury
      Securities

                  	
                    14

                  
	 
      	 
      	 
      
	
                    2.11

                  	
                    Temporary
      Securities

                  	
                    14

                  
	 
      	 
      	 
      
	
                    2.12

                  	
                    Cancellation

                  	
                    14

                  
	 
      	 
      	 
      
	
                    2.13

                  	
                    Payment
      of Interest; Defaulted Interest; Computation of Interest

                  	
                    15

                  
	 
      	 
      	 
      
	
                    2.14

                  	
                    CUSIP
      Number

                  	
                    15

                  
	 
      	 
      	 
      
	
                    2.15

                  	
                    Provisions
      for Global Securities

                  	
                    16

                  

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  2.16

                	
                  Persons
      Deemed Owners

                	
                  17

                
	 
      	 
      	 
      
	
                  ARTICLE
      3

                	
                  REDEMPTION

                	
                  17

                
	 
      	 
      	 
      
	
                  3.1

                	
                  Notices
      of Trustee

                	
                  17

                
	 
      	 
      	 
      
	
                  3.2

                	
                  Selection
      by Trustee of Securities to Be Redeemed

                	
                  17

                
	 
      	 
      	 
      
	
                  3.3

                	
                  Notice
      of Redemption

                	
                  18

                
	 
      	 
      	 
      
	
                  3.4

                	
                  Effect
      of Notice of Redemption

                	
                  19

                
	 
      	 
      	 
      
	
                  3.5

                	
                  Deposit
      of Redemption Price

                	
                  19

                
	 
      	 
      	 
      
	
                  3.6

                	
                  Securities
      Redeemed in Part

                	
                  19

                
	 
      	 
      	 
      
	
                  ARTICLE
      4

                	
                  COVENANTS

                	
                  20

                
	 
      	 
      	 
      
	
                  4.1

                	
                  Payment
      of Securities

                	
                  20

                
	 
      	 
      	 
      
	
                  4.2

                	
                  SEC
      Reports

                	
                  20

                
	 
      	 
      	 
      
	
                  4.3

                	
                  Waiver
      of Stay, Extension or Usury Laws

                	
                  20

                
	 
      	 
      	 
      
	
                  4.4

                	
                  Compliance
      Certificate

                	
                  21

                
	 
      	 
      	 
      
	
                  4.5

                	
                  Payment
      of Taxes and Other Claims

                	
                  21

                
	 
      	 
      	 
      
	
                  4.6

                	
                  Corporate
      Existence

                	
                  22

                
	 
      	 
      	 
      
	
                  4.7

                	
                  Maintenance
      of Properties

                	
                  22

                
	 
      	 
      	 
      
	
                  ARTICLE
      5

                	
                  SUCCESSOR
      CORPORATION

                	
                  22

                
	 
      	 
      	 
      
	
                  5.1

                	
                  Limitation
      on Consolidation, Merger and Sale of Assets

                	
                  22

                
	 
      	 
      	 
      
	
                  5.2

                	
                  Successor
      Person Substituted

                	
                  23

                
	 
      	 
      	 
      
	
                  ARTICLE
      6

                	
                  DEFAULTS
      AND REMEDIES

                	
                  23

                
	 
      	 
      	 
      
	
                  6.1

                	
                  Events
      of Default

                	
                  23

                
	 
      	 
      	 
      
	
                  6.2

                	
                  Acceleration

                	
                  25

                
	 
      	 
      	 
      
	
                  6.3

                	
                  Other
      Remedies

                	
                  25

                

        

      

    

    
      
         

      

      
        ii

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  6.4

                	
                  Waiver
      of Past Defaults and Events of Default

                	
                  25

                
	 
      	 
      	 
      
	
                  6.5

                	
                  Control
      by Majority

                	
                  26

                
	 
      	 
      	 
      
	
                  6.6

                	
                  Limitation
      on Suits

                	
                  26

                
	 
      	 
      	 
      
	
                  6.7

                	
                  Rights
      of Holders To Receive Payment

                	
                  26

                
	 
      	 
      	 
      
	
                  6.8

                	
                  Collection
      Suit by Trustee

                	
                  27

                
	 
      	 
      	 
      
	
                  6.9

                	
                  Trustee
      May File Proofs of Claim

                	
                  27

                
	 
      	 
      	 
      
	
                  6.10

                	
                  Priorities

                	
                  27

                
	 
      	 
      	 
      
	
                  6.11

                	
                  Undertaking
      for Costs

                	
                  28

                
	 
      	 
      	 
      
	
                  ARTICLE
      7

                	
                  TRUSTEE

                	
                  28

                
	 
      	 
      	 
      
	
                  7.1

                	
                  Duties
      of Trustee

                	
                  28

                
	 
      	 
      	 
      
	
                  7.2

                	
                  Rights
      of Trustee

                	
                  29

                
	 
      	 
      	 
      
	
                  7.3

                	
                  Individual
      Rights of Trustee

                	
                  30

                
	 
      	 
      	 
      
	
                  7.4

                	
                  Trustee’s
      Disclaimer

                	
                  30

                
	 
      	 
      	 
      
	
                  7.5

                	
                  Notice
      of Default

                	
                  30

                
	 
      	 
      	 
      
	
                  7.6

                	
                  Reports
      by Trustee to Holders

                	
                  31

                
	 
      	 
      	 
      
	
                  7.7

                	
                  Compensation
      and Indemnity

                	
                  31

                
	 
      	 
      	 
      
	
                  7.8

                	
                  Replacement
      of Trustee

                	
                  32

                
	 
      	 
      	 
      
	
                  7.9

                	
                  Successor
      Trustee by Consolidation, Merger or Conversion

                	
                  33

                
	 
      	 
      	 
      
	
                  7.10

                	
                  Eligibility;
      Disqualification

                	
                  33

                
	 
      	 
      	 
      
	
                  7.11

                	
                  Preferential
      Collection of Claims Against Company

                	
                  33

                
	 
      	 
      	 
      
	
                  7.12

                	
                  Paying
      Agents

                	
                  33

                
	 
      	 
      	 
      
	
                  ARTICLE
      8

                	
                  AMENDMENTS,
      SUPPLEMENTS AND WAIVERS

                	
                  34

                
	 
      	 
      	 
      
	
                  8.1

                	
                  Without
      Consent of Holders

                	
                  34

                

        

      

    

    
      
         

      

      
        iii

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  8.2

                	
                  With
      Consent of Holders

                	
                  34

                
	 
      	 
      	 
      
	
                  8.3

                	
                  Compliance
      with Trust Indenture Act

                	
                  36

                
	 
      	 
      	 
      
	
                  8.4

                	
                  Revocation
      and Effect of Consents

                	
                  36

                
	 
      	 
      	 
      
	
                  8.5

                	
                  Notation
      on or Exchange of Securities

                	
                  36

                
	 
      	 
      	 
      
	
                  8.6

                	
                  Trustee
      to Sign Amendments, Etc.

                	
                  37

                
	 
      	 
      	 
      
	
                  ARTICLE
      9

                	
                  DISCHARGE
      OF INDENTURE; DEFEASANCE

                	
                  37

                
	 
      	 
      	 
      
	
                  9.1

                	
                  Discharge
      of Indenture

                	
                  37

                
	 
      	 
      	 
      
	
                  9.2

                	
                  Legal
      Defeasance

                	
                  37

                
	 
      	 
      	 
      
	
                  9.3

                	
                  Covenant
      Defeasance

                	
                  38

                
	 
      	 
      	 
      
	
                  9.4

                	
                  Conditions
      to Legal Defeasance or Covenant Defeasance

                	
                  38

                
	 
      	 
      	 
      
	
                  9.5

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

                	
                  40

                
	 
      	 
      	 
      
	
                  9.6

                	
                  Reinstatement

                	
                  40

                
	 
      	 
      	 
      
	
                  9.7

                	
                  Moneys
      Held by Paying Agent

                	
                  41

                
	 
      	 
      	 
      
	
                  9.8

                	
                  Moneys
      Held by Trustee

                	
                  41

                
	 
      	 
      	 
      
	
                  ARTICLE
      10

                	
                   MISCELLANEOUS

                	
                  41

                
	 
      	 
      	 
      
	
                  10.1

                	
                  Trust
      Indenture Act Controls

                	
                  41

                
	 
      	 
      	 
      
	
                  10.2

                	
                  Notices

                	
                  42

                
	 
      	 
      	 
      
	
                  10.3

                	
                  Communications
      by Holders with Other Holders

                	
                  43

                
	 
      	 
      	 
      
	
                  10.4

                	
                  Certificate
      and Opinion as to Conditions Precedent

                	
                  43

                
	 
      	 
      	 
      
	
                  10.5

                	
                  Statement
      Required in Certificate and Opinion

                	
                  43

                
	 
      	 
      	 
      
	
                  10.6

                	
                  Rules by
      Trustee and Agents

                	
                  44

                
	 
      	 
      	 
      
	
                  10.7

                	
                  Business
      Days; Legal Holidays

                	
                  44

                

        

      

    

    
      
         

      

      
        iv

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  10.8

                	
                  Governing
      Law

                	
                  44

                
	 
      	 
      	 
      
	
                  10.9

                	
                  No
      Adverse Interpretation of Other Agreements

                	
                  44

                
	 
      	 
      	 
      
	
                  10.10

                	
                  No
      Recourse Against Others

                	
                  44

                
	 
      	 
      	 
      
	
                  10.11

                	
                  Successors
      and Assigns

                	
                  45

                
	 
      	 
      	 
      
	
                  10.12

                	
                  Multiple
      Counterparts

                	
                  45

                
	 
      	 
      	 
      
	
                  10.13

                	
                  Table
      of Contents, Headings, Etc.

                	
                  45

                
	 
      	 
      	 
      
	
                  10.14

                	
                  Separabilty

                	
                  45

                
	 
      	 
      	 
      
	
                  10.15

                	
                  Securities
      in a Foreign Currency or in ECU

                	
                  45

                
	 
      	 
      	 
      
	
                  10.16

                	
                  Judgment
      Currency

                	
                  46

                

        

      

    

    
      
         

      

      
        v

        
          

        

      

      
         

      

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        	
                                                                CROSS-REFERENCE
      TABLE

                                                              	 
      
	
                                                                TIA SECTION

                                                              	
                                                                INDENTURE SECTION

                                                              
	
                                                                310

                                                              	
                                                                (a)(1)

                                                              	
                                                                7.10

                                                              
	 
      	
                                                                (a)(2)

                                                              	
                                                                7.10

                                                              
	 
      	
                                                                (a)(3)

                                                              	
                                                                N/A

                                                              
	 
      	
                                                                (a)(4)

                                                              	
                                                                N/A

                                                              
	 
      	
                                                                (a)(5)

                                                              	
                                                                7.10

                                                              
	 
      	
                                                                (b)

                                                              	
                                                                7.8;
      7.10; 10.2

                                                              
	 
      	
                                                                (b)(1)

                                                              	
                                                                7.10

                                                              
	 
      	
                                                                (b)(9)

                                                              	
                                                                7.10

                                                              
	 
      	
                                                                (c)

                                                              	
                                                                N/A

                                                              
	
                                                                311

                                                              	
                                                                (a)

                                                              	
                                                                7.11

                                                              
	 
      	
                                                                (b)

                                                              	
                                                                7.11

                                                              
	 
      	
                                                                (c)

                                                              	
                                                                N/A

                                                              
	
                                                                312

                                                              	
                                                                (a)

                                                              	
                                                                2.6

                                                              
	 
      	
                                                                (b)

                                                              	
                                                                10.3

                                                              
	 
      	
                                                                (c)

                                                              	
                                                                10.3

                                                              
	
                                                                313

                                                              	
                                                                (a)

                                                              	
                                                                7.6

                                                              
	 
      	
                                                                (b)(1)

                                                              	
                                                                7.6

                                                              
	 
      	
                                                                (b)(2)

                                                              	
                                                                7.6

                                                              
	 
      	
                                                                (c)

                                                              	
                                                                7.6;
      10.2

                                                              
	 
      	
                                                                (d)

                                                              	
                                                                7.6

                                                              
	
                                                                314

                                                              	
                                                                (a)

                                                              	
                                                                4.2;
      4.4; 10.2

                                                              
	 
      	
                                                                (b)

                                                              	
                                                                N/A

                                                              
	 
      	
                                                                (c)(1)

                                                              	
                                                                10.4;
      10.5

                                                              
	 
      	
                                                                (c)(2)

                                                              	
                                                                10.4;
      10.5

                                                              
	 
      	
                                                                (c)(3)

                                                              	
                                                                N/A

                                                              
	 
      	
                                                                (d)

                                                              	
                                                                N/A

                                                              
	 
      	
                                                                (e)

                                                              	
                                                                10.5

                                                              
	 
      	
                                                                (f)

                                                              	
                                                                N/A

                                                              
	
                                                                315

                                                              	
                                                                (a)

                                                              	
                                                                7.1,
      7.2

                                                              
	 
      	
                                                                (b)

                                                              	
                                                                7.5;
      10.2

                                                              
	 
      	
                                                                (c)

                                                              	
                                                                7.1

                                                              
	 
      	
                                                                (d)

                                                              	
                                                                6.5;
      7.1; 7.2

                                                              
	 
      	
                                                                (e)

                                                              	
                                                                6.11

                                                              
	
                                                                316

                                                              	
                                                                (a)(last
      sentence)

                                                              	
                                                                2.10

                                                              
	 
      	
                                                                (a)(1)(A)

                                                              	
                                                                6.5

                                                              
	 
      	
                                                                (a)(1)(B)

                                                              	
                                                                6.4

                                                              
	 
      	
                                                                (a)(2)

                                                              	
                                                                8.2

                                                              
	 
      	
                                                                (b)

                                                              	
                                                                6.7

                                                              
	 
      	
                                                                (c)

                                                              	
                                                                8.4

                                                              
	
                                                                317

                                                              	
                                                                (a)(1)

                                                              	
                                                                6.8

                                                              
	 
      	
                                                                (a)(2)

                                                              	
                                                                6.9

                                                              
	 
      	
                                                                (b)

                                                              	
                                                                2.5;
      7.12

                                                              
	
                                                                318

                                                              	
                                                                (a)

                                                              	
                                                                10.1

                                                              

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
        
N/A
means not applicable

    

     

    
      
        	
                Note: 

              	
                This
      Cross-Reference Table shall not, for any purpose, be deemed to be a part
      of the Indenture.

              

      

    

    
      
         

      

      
        vi

        
          

        

      

      
         

      

    

     

    INDENTURE,
dated as of
                ,
          , by and between
Bolt Technology Corporation, a Connecticut corporation, as Issuer (the “Company”), and
                                                ,
a
                          
organized under the laws of
                                      ,
as Trustee (the “Trustee”).

     

    RECITALS
OF THE COMPANY

     

    The
Company has duly authorized the execution and delivery of this Indenture to
provide for the issuance from time to time of its debentures, notes or other
evidences of indebtedness to be issued in one or more series (the “Securities”), as herein
provided, up to such principal amount as may from time to time be authorized in
or pursuant to one or more resolutions of the Board of Directors or by
supplemental indenture.

     

    All
things necessary to make this Indenture a valid agreement of the Company in
accordance with its terms have been done, and the execution and delivery thereof
have been in all respects duly authorized by the parties hereto.

     

    NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

     

    Each
party agrees as follows for the benefit of the other parties and for the equal
and ratable benefit of the Holders of the Securities issued under this
Indenture:

     

    ARTICLE
1

    DEFINITIONS
AND INCORPORATION BY REFERENCE

     

    
      	
              1.1

            	
              Definitions.

            

    

     

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

     

    “Agent” means any Registrar,
Paying Agent, co-registrar or agent for service of notices and
demands.

    

    “Bankruptcy Law” means Title
11, U.S. Code or any similar Federal or state law for the relief of
debtors. 

     

    “Board of Directors” means the
Board of Directors of the Company or any committee authorized to act
therefor.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    “Board Resolution” means a
copy of a resolution certified pursuant to an Officers’ Certificate to have been
duly adopted by the Board of Directors of the Company and to be in full force
and effect on the date of such certification, and delivered to the
Trustee.

     

    “Capital Stock” means, with
respect to any Person, any and all shares or other equivalents (however
designated) of capital stock or any other participation, right or other interest
in the nature of an equity interest in such Person or any option, warrant or
other security convertible into any of the foregoing.

     

    “Company” means the party
named as such in the first paragraph of this Indenture until a successor
replaces such party pursuant to Article 5 of this Indenture, and thereafter
means the successor and any other primary obligor on the
Securities.

     

    “Company Order” means a
written order signed in the name of the Company by two Officers, one of whom
must be its Chief Executive Officer or its Chief Financial Officer.

     

    “Company Request” means any
written request signed in the name of the Company by its Chief Executive
Officer, its President, any Vice President, its Chief Financial Officer or its
Treasurer and attested to by the Secretary or any Assistant Secretary of the
Company.

     

    “Corporate Trust Office” means
the office of the Trustee at which at any particular time its corporate trust
business shall be principally administered.

     

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

    

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

     

    “Depositary” means, with
respect to the Securities of any Series issuable or issued in whole or in
part in the form of one or more Global Securities, the Person designated as
Depositary for such Series by the Company, which Depositary shall be a
clearing agency registered under the Exchange Act, until a successor Depositary
shall have become such pursuant to the applicable provisions of this Indenture,
and thereafter “Depositary” shall mean each
Person who is then a Depositary hereunder, and if at any time there is more than
one such Person, such Persons.

     

    “Dollars” means the currency
of the United States of America.

     

    “ECU” means the European
Currency Unit as determined by the Commission of the European
Union.

     

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

     

    “Foreign Currency” means any
currency or currency unit issued by a government other than the government of
the United States of America.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    “Foreign Government
Obligations” means with respect to Securities of any Series that are
denominated in a Foreign Currency, (i) direct obligations of the government
that issued or caused to be issued such currency for the payment of which
obligations its full faith and credit is pledged or (ii) obligations of a
person controlled or supervised by or acting as an agency or instrumentality of
such government the timely payment of which is unconditionally guaranteed as a
full faith and credit obligation by such government, which, in either case under
clauses (i) or (ii), are not callable or redeemable at the option of the
issuer thereof.

     

    “GAAP” means generally
accepted accounting principles consistently applied as in effect in the United
States from time to time.

     

    “Global Security” or “Global Securities” means a
Security or Securities, as the case may be, in the form established pursuant to
Section 2.2, evidencing all or part of a Series of Securities issued
to the Depositary for such Series or its nominee, registered in the name of
such Depositary or nominee, and bearing the legend set forth in
Section 2.15(c) (or such legend as may be specified as contemplated by
Section 2.2 for such Securities).

     

    “Holder” or “Securityholder” means the
Person in whose name a Security is registered on the Registrar’s
books.

     

    “Indebtedness” means (without
duplication), with respect to any Person, any indebtedness at any time
outstanding, secured or unsecured, contingent or otherwise, which is for
borrowed money (whether or not the recourse of the lender is to the whole of the
assets of such Person or only to a portion thereof), or evidenced by bonds,
notes, debentures or similar instruments or representing the balance deferred
and unpaid of the purchase price of any property (excluding any balances that
constitute accounts payable or trade payables, and other accrued liabilities
arising in the ordinary course of business) if and to the extent any of the
foregoing indebtedness would appear as a liability upon a balance sheet of such
Person prepared in accordance with GAAP.

     

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

     

    “Interest Payment Date” means
the Stated Maturity of an installment of interest on Securities of any
Series.

     

    “Lien” means, with respect to
any property or assets of any Person, any mortgage or deed of trust, pledge,
hypothecation, assignment, deposit arrangement, security interest, lien, charge,
easement, encumbrance, preference, priority, or other security agreement or
preferential arrangement of any kind or nature whatsoever on or with respect to
such property or assets (including, without limitation, any capitalized lease
obligation, conditional sales, or other title retention agreement having
substantially the same economic effect as any of the
foregoing).

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

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

     

    “Officer” means the Chief
Executive Officer, the President, any Vice President, the Chief Financial
Officer, the Treasurer or the Secretary of the Company or any other officer
designated by the Board of Directors, as the case may be.

     

    “Officers’ Certificate” means,
with respect to any Person, a certificate signed by the Chief Executive Officer,
the President or any Vice President, and the Chief Financial Officer or any
Treasurer of such Person that shall comply with applicable provisions of this
Indenture.

     

    “Opinion of Counsel” means a
written opinion from legal counsel which counsel is reasonably acceptable to the
Trustee.

     

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

     

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

     

    “Responsible Officer” when
used with respect to the Trustee, means any officer or officers within the
corporate trust department of the Trustee (or any successor group of the
Trustee) or any other officer of the Trustee customarily performing functions
similar to those performed by any of the above designated officers and who are
responsible for compliance with the obligations of the Trustee as set forth in
this Indenture and also means, with respect to a particular corporate trust
matter or obligation required of the Trustee as set forth in this Indenture, any
other officer to whom such matter is referred because of his knowledge of and
familiarity with the particular subject.

     

    “SEC” means the United States
Securities and Exchange Commission as constituted from time to time or any
successor performing substantially the same functions.

     

    “Securities” means the
securities that are issued under this Indenture, as amended or supplemented from
time to time pursuant to this Indenture.

     

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

    

    “Securityholder” has the
meaning set forth above for the defined term “Holder”.

     

    “Series” or “Series of Securities”
means each series of debentures, notes or other debt instruments of the Company
created pursuant to Sections 2.1 or 2.2 hereof.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    “Significant Subsidiary” means
(i) any direct or indirect Subsidiary of the Company that would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of
Regulation S-X, promulgated pursuant to the Securities Act, as such regulation
is in effect on the date hereof, or (ii) any group of direct or indirect
Subsidiaries of the Company that, taken together as a group, would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of
Regulation S-X, promulgated pursuant to the Securities Act, as such regulation
is in effect on the date hereof.

     

    “Stated Maturity” means, (i)
when used with respect to any Security of any Series or any installment of
principal thereof or interest thereon, the date specified in such Security as
the fixed date on which the principal of such Security or such installment of
principal or interest is due and payable and, (ii) when used with respect to any
other Indebtedness, the date specified in the instrument governing such
Indebtedness as the fixed date on which the principal of such Indebtedness, or
any installment of interest thereon, is due and payable.

     

    “Subsidiary” of any specified
Person means any corporation, partnership, joint venture, association or other
business entity, whether now existing or hereafter organized or acquired,
(i) in the case of a corporation, of which more than 50% of the total
voting power of the Capital Stock entitled (without regard to the occurrence of
any contingency) to vote in the election of directors thereof is held, directly
or indirectly by such Person or any of its Subsidiaries; or (ii) in the
case of a partnership, joint venture, association or other business entity, with
respect to which such
Person or any of its Subsidiaries has the power to direct or cause the direction
of the management and policies of such entity by contract or otherwise or if in
accordance with GAAP such entity is consolidated with such Person for financial
statement purposes.

     

    “TIA” or “Trust Indenture Act” means
the Trust Indenture Act of 1939 (15 U.S. Code Section 77aaa-77bbbb) as in effect on the date
of this Indenture (except as provided in Section 8.3 hereof).

     

    “Trustee” means the party
named as such in this Indenture until a successor replaces it pursuant to this
Indenture and thereafter means the successor.

     

    “U.S. Government Obligations”
means direct non-callable obligations of, or non-callable obligations guaranteed
by, the United States of America for the payment of which obligation or
guarantee the full faith and credit of the United States of America is
pledged.

     

    
      	
              1.2

            	
              Other
      Definitions.

            

    

     

    The
definitions of the following terms may be found in the sections indicated as
follows:

     

    
      
        
          
            	
                    Term

                  	 
      	
                    Defined

                    in Section

                  
	 
      	 
      	 
      
	
                    “Business
      Day”

                  	 
      	
                    10.7

                  
	
                    “Covenant
      Defeasance”

                  	 
      	
                    9.3

                  
	
                    “Event
      of Default”

                  	 
      	
                    6.1

                  
	
                    “Journal”

                  	 
      	
                    10.15

                  
	
                    “Judgment
      Currency”

                  	 
      	
                    10.16

                  
	
                    “Legal
      Defeasance”

                  	 
      	
                    9.2

                  
	
                    “Legal
      Holiday”

                  	 
      	
                    10.7

                  
	
                    “Market
      Exchange Rate”

                  	 
      	
                    10.15

                  
	
                    “New
      York Banking Day”

                  	 
      	
                    10.16

                  
	
                    “Paying
      Agent”

                  	 
      	
                    2.4

                  
	
                    “Registrar”

                  	 
      	
                    2.4

                  
	
                    “Required
      Currency”

                  	 
      	
                    10.16

                  
	
                    “Service
      Agent”

                  	 
      	
                    2.4

                  

          

        

      

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	
              1.3

            	
              Incorporation by Reference of
      Trust Indenture Act.

            

    

     

    Whenever
this Indenture refers to a provision of the TIA, the portion of such provision
required to be incorporated herein for this Indenture to be qualified under the
TIA is incorporated by reference in and made a part of this Indenture.  The
following TIA terms used in this Indenture have the following
meanings:

     

    “Commission” means the
SEC.

     

    “indenture securities” means
the Securities.

     

    “indenture securityholder”
means a Securityholder.

     

    “indenture to be qualified”
means this Indenture.

     

    “indenture trustee” or “institutional trustee” means
the Trustee.

     

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

     

    All other
terms used in this Indenture that are defined by the TIA, defined in the TIA by
reference to another statute or defined by SEC rule have the meanings
therein assigned to them.

     

    
      	
              1.4

            	
              Rules of
      Construction.

            

    

     

    Unless
the context otherwise requires:

     

    (1)           a
term has the meaning assigned to it herein, whether defined expressly or by
reference;

     

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

     

    (3)           “or” is not
exclusive;

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

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

     

    (5)           words
used herein implying any gender shall apply to each gender; and

     

    (6)           the
words “herein,” “hereof” and “hereunder” and other words of similar import refer
to this Indenture as a whole and not to any particular Article, Section or
other sub-division.

     

    ARTICLE
2

    THE
SECURITIES

     

    
      	
              2.1

            	
              Issuable in
      Series.

            

    

     

    The
aggregate principal amount of Securities that may be authenticated and delivered
under this Indenture is unlimited.  The Securities may be issued in one or
more Series.  All Securities of a Series shall be identical except as
may be set forth in a Board Resolution, a supplemental indenture or an Officers’
Certificate detailing the adoption of the terms thereof pursuant to the
authority granted under a Board Resolution.  In the case of Securities of a
Series to be issued from time to time, the Board Resolution, supplemental
indenture or Officers’ Certificate may provide for the method by which specified
terms (such as interest rate, Stated Maturity, record date or date from which
interest shall accrue) are to be determined.  Securities may differ between
Series in respect of any matters, provided that all
Series of Securities shall be equally and ratably entitled to the benefits
of the Indenture.

     

    
      	
              2.2

            	
              Establishment of Terms of
      Series of Securities.

            

    

     

    At or
prior to the issuance of any Securities within a Series, the following shall be
established (as to the Series generally, in the case of Subsection
2.2(1) and either as to such Securities within the Series or as to the
Series generally in the case of Subsections 2.2(2) through 2.2(25)) by
a Board Resolution, a supplemental indenture or an Officers’ Certificate, in
each case, pursuant to authority granted under a Board Resolution:

     

    (1)       
     the title of the Series (which shall
distinguish the Securities of that particular Series from the Securities of
any other Series);

     

    (2)        
    the price or prices (expressed as a percentage of the
principal amount thereof) at which the Securities of the Series will be
issued;

     

    (3)      
      any limit upon the aggregate principal
amount of the Securities of the Series which may be authenticated and
delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Securities of the Series pursuant to Section 2.7, 2.8, 2.11, 3.6
or 8.5);

     

    (4)     
       the date or dates on which the
principal of the Securities of the Series is payable;

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    (5)      
      the rate or rates (which may be fixed or
variable) per annum or, if applicable, the method used to determine such rate or
rates (including, but not limited to, any commodity, commodity index, stock
exchange index or financial index) at which the Securities of the
Series shall bear interest, if any, the date or dates from which such
interest, if any, shall accrue, the date or dates on which such interest, if
any, shall commence and be payable and any regular record date for the interest
payable on any Interest Payment Date;

     

    (6)       
     the place or places where the principal of (and
premium, if any) and interest, if any, on the Securities of the
Series shall be payable, or the method of such payment, if by wire
transfer, mail or other means;

     

    (7)          
  if applicable, the period or periods within which, the price or
prices at which and the terms and conditions upon which the Securities of the
Series may be redeemed, in whole or in part, at the option of the
Company;

     

    (8)         
   the obligation, if any, of the Company to redeem or purchase
the Securities of the Series pursuant to any sinking fund or analogous
provisions or at the option of a Holder thereof and the period or periods within
which, the price or prices at which and the terms and conditions upon which
Securities of the Series shall be redeemed or purchased, in whole or in
part, pursuant to such obligation;

     

    (9)          
  the dates, if any, on which and the price or prices at which the
Securities of the Series will be repurchased by the Company at the option
of the Holders thereof and other detailed terms and provisions of such
repurchase obligations;

     

    (10)           if
other than denominations of $1,000 and any integral multiple thereof, the
denominations in which the Securities of the Series shall be
issuable;

     

    (11)           whether
the Securities of the Series will be issued in bearer or fully registered
form (and, if in fully registered form, whether the Securities will be issuable
as Global Securities);

     

    (12)           if
other than the principal amount thereof, the portion of the principal amount of
the Securities of the Series that shall be payable upon declaration of
acceleration of the maturity thereof pursuant to Section 6.2;

     

    (13)           the
currency of denomination of the Securities of the Series, which may be Dollars
or any Foreign Currency, including, but not limited to, the ECU, and if such
currency of denomination is a composite currency other than the ECU, the agency
or organization, if any, responsible for overseeing such composite
currency;

     

    (14)           the
designation of the currency, currencies or currency units in which payment of
the principal of (and premium, if any) and interest, if any, on the Securities
of the Series will be made;

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    (15)           if
payments of principal of (and premium, if any) and interest, if any, on the
Securities of the Series are to be made in one or more currencies or
currency units other than that or those in which such Securities are
denominated, the manner in which the exchange rate with respect to such payments
will be determined;

     

    (16)           the
manner in which the amounts of payment of principal of (and premium, if any) and
interest, if any, on the Securities of the Series will be determined, if
such amounts may be determined by reference to an index based on a currency or
currencies other than the currency of denomination or designation or by
reference to a commodity, commodity index, stock exchange index or financial
index;

     

    (17)           the
provisions, if any, relating to any security provided for the Securities of the
Series;

     

    (18)           any
addition to or change in the Events of Default which applies to any Securities
of the Series and any change in the right of the Trustee or the requisite
Holders of such Securities to declare the principal amount thereof due and
payable pursuant to Section 6.2;

     

    (19)           any
addition to or change in the covenants set forth in Articles 4 or 5 which
applies to Securities of the Series;

     

    (20)           any
other terms of the Securities of the Series (which terms shall not be
inconsistent with the provisions of this Indenture, except as permitted by
Section 8.1, but which may modify or delete any provision of this Indenture
insofar as it applies to such Series);

     

    (21)           any
depositories, interest rate calculation agents, exchange rate calculation agents
or other agents with respect to Securities of such Series if other than
those appointed herein;

     

    (22)           the
terms and conditions, if any, upon which the Securities and any guarantees
thereof shall be subordinated in right of payment to other indebtedness of the
Company or any guarantor;

     

    (23)           the
form and terms of any guarantee of the Securities;

     

    (24)           if
applicable, that the Securities of the Series, in whole or any specified part,
shall be defeasible pursuant to Article 9; and

     

    (25)           if
applicable, that the Securities of the Series, in whole or any specified part,
shall be convertible into equity securities of the Company.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

    All
Securities of any one Series need not be issued at the same time and may be
issued from time to time, consistent with the terms of this Indenture, if so
provided by or pursuant to the Board Resolution, supplemental indenture or
Officers’ Certificate referred to above, and the authorized principal amount of
any Series may not be increased to provide for issuances of additional
Securities of such Series, unless otherwise provided in such Board Resolution,
supplemental indenture or Officers’ Certificate.

     

    
      	
              2.3

            	
              Execution and
      Authentication.

            

    

     

    The
Securities shall be executed on behalf of the Company by two Officers of the
Company or an Officer and an Assistant Secretary of the Company.  Each such
signature may be either manual or facsimile.  The Company’s seal may be
impressed, affixed, imprinted or reproduced on the Securities and may be in
facsimile form.

     

    If an
Officer whose signature is on a Security no longer holds that office at the time
the Security is authenticated, the Security shall nevertheless be valid.  A
Security shall not be valid until authenticated by the manual signature of the
Trustee or an authenticating agent.  The signature shall be conclusive
evidence that the Security has been authenticated under this
Indenture.

     

    The
Trustee shall at any time, and from time to time, authenticate Securities for
original issue in the principal amount provided in the Board Resolution,
supplemental indenture hereto or Officers’ Certificate, upon receipt by the
Trustee of a Company Order.  Such Company Order may authorize
authentication and delivery pursuant to oral or electronic instructions from the
Company or its duly authorized agent or agents, which oral instructions shall be
promptly confirmed in writing.  Each Security shall be dated the date of
its authentication unless otherwise provided by a Board Resolution, a
supplemental indenture hereto or an Officers’ Certificate.

     

    The
aggregate principal amount of Securities of any Series outstanding at any
time may not exceed any limit upon the maximum principal amount for such
Series set forth in the Board Resolution,
supplemental indenture hereto or Officers’ Certificate delivered pursuant to
Section 2.2, except as provided in Section 2.8.

     

    Prior to
the issuance of Securities of any Series, the Trustee shall have received and
(subject to Section 7.2) shall be fully protected in relying on: 
(a) the Board Resolution, supplemental indenture hereto or Officers’
Certificate establishing the form of the Securities of that Series or of
Securities within that Series and the terms of the Securities of that
Series or of Securities within that Series, (b) an Officers’
Certificate complying with Section 10.4, and (c) an Opinion of Counsel
complying with Section 10.4.

     

    The
Trustee shall have the right to decline to authenticate and deliver any
Securities of such Series:  (a) if the Trustee, being advised in
writing by outside counsel, determines that such action may not lawfully be
taken; or (b) if the Trustee in good faith by its board of directors or
trustees, executive committee or a trust committee of directors and/or
vice-presidents shall reasonably determine that such action would expose the
Trustee to personal liability, or cause it to have a conflict of interest with
respect to Holders of any then outstanding Series of
Securities.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    The
Trustee may appoint an authenticating agent reasonably acceptable to the Company
to authenticate Securities.  An authenticating agent may authenticate
Securities whenever the Trustee may do so.  Any appointment shall be
evidenced by instrument signed by an authorized officer of the Trustee, a copy
of which shall be furnished to the Company.  Each reference in this
Indenture to authentication by the Trustee includes authentication by such
agent.  An authenticating agent has the same rights as an Agent to deal
with the Company or an Affiliate of the Company.

     

    
      	
              2.4

            	
              Registrar and Paying
      Agent.

            

    

     

    The
Company shall maintain an office or agency where Securities of any
Series may be presented for registration of transfer or for exchange
(“Registrar”), an
office or agency where Securities may be presented for payment (“Paying Agent”), and an office
or agency where notices and demands to or upon the Company in respect of the
Securities and this Indenture may be served (“Service Agent”).  The
Registrar shall keep a register of the Securities and of their transfer and
exchange.  The Company may have one or more co-registrars and one or more
additional paying agents.  The Company shall give prompt written notice to
the Trustee of the location, and any change in the location, of such office or
agency.  If at any time the Company shall fail to maintain any such
required office or to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the
address of the Trustee as set forth in Section 10.2.  Neither the
Company nor any Affiliate of the Company may act as Paying Agent.  The
Company may change any Paying Agent, Registrar or co-registrar without notice to
any Securityholder.

     

    The
Company may also from time to time designate one or more other offices or
agencies where the Securities may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations.  The
Company shall give prompt written notice to the Trustee
of such designation or rescission and of any change in the location of any such
other office or agency.

     

    The
Company shall enter into an appropriate agency agreement with any Registrar or
Paying Agent not a party to this Indenture.  The agreement shall implement
the provisions of this Indenture that relate to such Agent.  The Company
shall notify the Trustee of the name and address of any such Agent.  If the
Company fails to maintain a Registrar or Paying Agent, or agent for service of
notices and demands, or fails to give the foregoing notice, the Trustee shall
act as such.  The Company hereby appoints the Trustee as the initial
Registrar, Paying Agent and Service Agent for each Series unless another
Registrar, Paying Agent or Service Agent, as the case may be, is appointed prior
to the time Securities of that Series are first issued.  The Company
hereby initially designates the Corporate Trust Office of the Trustee as such
office of the Company.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    2.5         Paying Agent To Hold Assets in
Trust.

     

    The
Trustee as Paying Agent shall, and the Company shall require each Paying Agent
other than the Trustee to agree in writing that each Paying Agent shall, hold in
trust for the benefit of the Holders of any Series of Securities or the
Trustee all assets held by the Paying Agent for the payment of principal of (and
premium, if any) and interest, if any, on such Series of Securities
(whether such assets have been distributed to it by the Company or any other
obligor on such Series of Securities), and the Company and the Paying Agent
shall notify the Trustee in writing of any Default by the Company (or any other
obligor on such Series of Securities) in making any such payment.  The
Company at any time may require a Paying Agent to distribute all assets held by
it to the Trustee and account for any assets disbursed, and the Trustee may at
any time during the continuance of any payment default with respect to any
Series of Securities, upon written request to a Paying Agent, require such
Paying Agent to distribute all assets held by it to the Trustee and to account
for any assets distributed.  Upon distribution to the Trustee of all assets
that shall have been delivered by the Company to the Paying Agent, the Paying
Agent shall have no further liability for such assets.

     

    2.6         Securityholder
Lists.

     

    The
Trustee shall preserve in as current a form as is reasonably practicable the
most recent list available to it of the names and addresses of Securityholders
of each Series of Securities.  If the Trustee is not the Registrar,
the Company shall furnish to the Trustee as of each regular record date for the
payment of interest on the Securities of a Series and before each related
Interest Payment Date, and at such other times as the Trustee may request in
writing, a list in such form and as of such date as the Trustee may reasonably
require of the names and addresses of Securityholders of each Series of
Securities.

     

    2.7         Transfer and
Exchange.

     

    When
Securities of a Series are presented to the Registrar with a request to
register the transfer thereof, the Registrar shall register the transfer as
requested, and when such Securities of a Series are presented to the
Registrar with a request to exchange them for an equal principal amount of other
authorized denominations of Securities of the same Series, the Registrar shall
make the
exchange as requested.  To permit transfers and exchanges, upon surrender
of any Security for registration of transfer at the office or agency maintained
pursuant to Section 2.4 hereof, the Company shall execute and the Trustee
shall authenticate Securities at the Registrar’s request.

     

    Notwithstanding
any other provision of this Section 2.7, unless and until it is exchanged
in whole or in part for definitive Securities, a Global Security may not be
transferred except as a whole by the Depositary to a nominee of such Depositary
or by a nominee of such Depositary to such Depositary or another nominee of such
Depositary or by such Depositary or any such nominee to a successor Depositary
or a nominee of such successor Depositary.

     

    If
(i) the Depositary is at any time unwilling, unable or ineligible to
continue as Depositary and a successor Depositary is not appointed by the
Company within 90 days after the date the Company is so informed in writing or
becomes aware of the same, or (ii) a Default or an Event of Default has
occurred and is continuing, the Company promptly will execute and deliver to the
Trustee definitive Securities, and the Trustee, upon receipt of a Company
Request for the authentication and delivery of such definitive Securities (which
the Company will promptly execute and deliver to the Trustee), will authenticate
and deliver definitive Securities, without charge, in an aggregate principal
amount equal to the principal amount of the outstanding Global Securities, in
exchange for and upon surrender of all such Global Securities.

    
      
         

      

      
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    In any
exchange provided for in the preceding paragraph, the Company will execute and
the Trustee will authenticate and deliver definitive Securities in the
authorized denominations provided by Section 2.3.

     

    Upon the
exchange of a Global Security for definitive Securities, such Global Security
shall be canceled by the Trustee.  Definitive Securities issued in exchange
for Global Securities pursuant to this Section 2.7 shall be registered in
such names and in such authorized denominations as the Depositary, pursuant to
instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee.

     

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

     

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

     

    Any
exchange or transfer shall be without charge, except that the Company may
require payment by the Holder of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation to a transfer or exchange,
but this provision shall not apply to any exchange pursuant to
Section 2.11, 3.6 or 8.5 hereof.  The Trustee shall not be required to
register transfers of Securities of any Series or to exchange Securities of
any Series for a period of 15 days before selection for redemption of such
Securities.  The Trustee shall not be required to
exchange or register transfers of Securities of any Series called or being
called for redemption in whole or in part, except the unredeemed portion of such
Security being redeemed in part.

     

    2.8         Replacement
Securities.

     

    If a
mutilated Security is surrendered to the Trustee or if the Holder of a Security
presents evidence to the satisfaction of the Company and the Trustee that the
Security has been lost, destroyed or wrongfully taken, the Company shall issue
and the Trustee shall authenticate a replacement Security of the same
Series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding.  An indemnity bond may be required by the
Company or the Trustee that is sufficient in the reasonable judgment of the
Company or the Trustee, as the case may be, to protect the Company, the Trustee
or any Agent from any loss which any of them may suffer if a Security is
replaced.  The Company may charge such Holder for its reasonable,
out-of-pocket expenses in replacing a Security, including the fees and expenses
of counsel.  Every replacement Security shall constitute an additional
obligation of the Company, whether or not the destroyed, lost or stolen Security
shall be at any time enforceable by anyone, and shall be entitled to all the
benefits of this Indenture equally and proportionally with any and all other
Securities of that Series duly issued hereunder.

    
      
         

      

      
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    2.9         Outstanding
Securities.

     

    Securities
outstanding at any time are all Securities authenticated by the Trustee except
for those canceled by it, those delivered to it for cancellation, and those
described in this Section 2.9 as not outstanding.

     

    If a
Security is replaced pursuant to Section 2.8 (other than a mutilated
Security surrendered for replacement), it ceases to be outstanding until the
Company and the Trustee receive proof satisfactory to each of them that the
replaced Security is held by a bona fide purchaser.  A mutilated Security
ceases to be outstanding upon surrender of such Security and replacement thereof
pursuant to Section 2.8.

     

    If a
Paying Agent holds on a Redemption Date or Maturity Date of a Series of
Securities money sufficient to pay the principal of (and premium, if any) and
interest, if any, on Securities payable on that date and is not prohibited from
paying such money to the Holders thereof pursuant to the terms of this
Indenture, then on and after that date such Securities cease to be outstanding
and interest on them ceases to accrue.

     

    Subject
to Section 2.10, a Security does not cease to be outstanding solely because
the Company or an Affiliate holds the Security.

     

    2.10       Treasury
Securities.

     

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

     

    2.11       Temporary
Securities.

     

    Until
definitive Securities are ready for delivery, the Company may prepare and the
Trustee shall authenticate temporary Securities.  Temporary Securities
shall be substantially in the form, and shall carry all rights, of definitive
Securities but may have variations that the Company considers appropriate for
temporary Securities.  Without unreasonable delay, the Company shall
prepare and the Trustee shall authenticate definitive Securities in exchange for
temporary Securities presented to it.

     

    2.12      Cancellation.

     

    The
Company at any time may deliver Securities to the Trustee for
cancellation.  The Registrar and the Paying Agent shall forward to the
Trustee any Securities surrendered to them for transfer, exchange or
payment.  At the direction of the Trustee, the Registrar or the Paying
Agent, and no one else, shall cancel and, at the written request of the Company,
shall dispose of all Securities surrendered for transfer, exchange, payment or
cancellation.  If the Company shall acquire any of the Securities, such
acquisition shall not operate as a redemption or satisfaction of the
Indebtedness represented by such Securities unless and until the same are
surrendered to the Trustee for cancellation pursuant to this
Section 2.12.

    
      
         

      

      
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    2.13       Payment of Interest; Defaulted
Interest; Computation of Interest.

     

    Except as
otherwise provided as contemplated by Section 2.2 with respect to any
Series of Securities, interest on any Security which is payable, and is
punctually paid or duly provided for, on any Interest Payment Date shall be paid
to the Person in whose name that Security is registered at the close of business
on the regular record date for such interest, as provided in the Board
Resolution, supplemental indenture hereto or Officers’ Certificate establishing
the terms of such Series.

     

    At the
option of the Company, Holders shall receive payments of interest by check, by
transfer to an account maintained by such Holder in the United States or, upon
receipt by the Trustee of a written request from a Holder, by wire transfer of
immediately available funds. 

     

    If the
Company defaults in a payment of interest on the Securities, it shall pay the
defaulted amounts, plus any interest payable on defaulted amounts pursuant to
Section 4.1 hereof, to the persons who are Securityholders on a subsequent
special record date, which date shall be the fifteenth day next preceding the
date fixed by the Company for the payment of defaulted interest or the next
succeeding Business Day if such date is not a Business Day.  At least 15
days before the special record date, the Company shall mail or cause to be
mailed to each Securityholder, with a copy to the Trustee, a notice that states
the special record date, the payment date, and the amount of defaulted interest,
and interest payable on such defaulted interest, if any, to be
paid.

     

    Except as
otherwise specified as contemplated by Section 2.2 for Securities of any
Series, interest on the Securities of each Series shall be computed on the
basis of a 360-day year of twelve 30-day months.

     

    2.14      CUSIP Number.

     

    The
Company in issuing the Securities may use one or more “CUSIP” numbers, and if
so, the Trustee shall use the CUSIP number(s) in notices of redemption or
exchange as a convenience to Holders, provided that any such notice may state
that no representation is made as to the correctness or accuracy of the CUSIP
number(s) printed in the notice or on the Securities, and that reliance may
be placed only on the other identification numbers printed on the
Securities.

    
      
         

      

      
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    2.15       Provisions for Global
Securities.

     

    (a)           A
Board Resolution, a supplemental indenture hereto or an Officers’ Certificate
shall establish whether the Securities of a Series shall be issued in whole
or in part in the form of one or more Global Securities and the Depositary for
such Global Security or Securities.

     

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

     

    Except as
provided in this Section 2.15(b), a Global Security may not be transferred
except as a whole by the Depositary with respect to such Global Security to a
nominee of such Depositary, by a nominee of such Depositary to such Depositary
or another nominee of such Depositary or by the Depositary or any such nominee
to a successor Depositary or a nominee of such a successor
Depositary.

     

    (c)           Any
Global Security issued hereunder shall bear a legend in substantially the
following form:

     

    “This
Security is a Global Security within the meaning of the Indenture hereinafter
referred to and is registered in the name of the Depositary or a nominee of the
Depositary. This Security is exchangeable for Securities registered in the name
of a person other than the Depositary or its nominee only in the limited
circumstances described in the Indenture, and may not be transferred except as a
whole by the Depositary to a nominee of the Depositary, by a nominee of the
Depositary to the Depositary or another nominee of the Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such a
successor Depositary.”

     

    (d)           The
Depositary, as a Holder, may appoint agents and otherwise authorize participants
to give or take any request, demand, authorization, direction, notice, consent,
waiver or other action which a Holder is entitled to give or take under the
Indenture.

    
      
         

      

      
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    (e)           Notwithstanding
the other provisions of this Indenture, unless otherwise specified as
contemplated by Section 2.2, payment of the principal of (and premium, if
any) and interest, if any, on any Global Security shall be made to the
Depositary or its nominee in its capacity as the Holder thereof.

     

    (f)           Except
as provided in Section 2.15(e), the Company, the Trustee and any Agent
shall treat a person as the Holder of such principal amount of outstanding
Securities of any Series represented by a Global Security as shall be
specified in a written statement of the Depositary (which may be in the form of
a participants’ list for such Series) with respect to such Global Security, for
purposes of obtaining any consents, declarations, waivers or directions required
to be given by the Holders pursuant to this Indenture.

     

    2.16       Persons Deemed
Owners.

     

    Prior to
due presentment of a Security for registration of transfer, the Company, the
Trustee, the Registrar and any agent of the Company, the Registrar or the
Trustee may treat the Person in whose name such Security is registered as the
owner of such Security for the purpose of receiving payment of principal of (and
premium, if any) and (subject to Section 2.13) interest, if any, on such
Security and for all other purposes whatsoever, and neither the Company, the
Trustee, the Registrar nor any agent of the Company, the Registrar or the
Trustee shall be affected by notice to the contrary.

     

    ARTICLE
3

    REDEMPTION

     

    3.1         Notices of
Trustee.

     

    The
Company may, with respect to any Series of Securities, reserve the right to
redeem and pay the Series of Securities or may covenant to redeem and pay
the Series of Securities or any part thereof prior to the Stated Maturity
thereof at such time and on such terms as provided for in such Securities or the
related Board Resolution, supplemental indenture or Officers’ Certificate. 
If a Series of Securities is redeemable and the Company elects to redeem
such Securities of a Series, it shall notify the Trustee of the Redemption Date
and the principal amount of Securities to be redeemed at least 35 days (unless a
shorter notice shall be satisfactory to the Trustee) but not more than 60 days
before the Redemption Date.  Any such notice may be canceled
at any time prior to notice of such redemption being mailed to any Holder and
shall thereby be void and of no effect.

     

    3.2         Selection by Trustee of Securities to
Be Redeemed.

     

    Unless
otherwise indicated for a particular Series of Securities by a Board
Resolution, a supplemental indenture or an Officers’ Certificate, if fewer than
all of the Securities of a Series are to be redeemed, the Trustee shall
select the Securities of a Series to be redeemed pro rata, by lot or by any
other method that the Trustee considers fair and appropriate and, if such
Securities are listed on any securities exchange, by a method that complies with
the requirements of such exchange.

    
      
         

      

      
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    The
Trustee shall make the selection from Securities of a Series outstanding
and not previously called for redemption and shall promptly notify the Company
in writing of the Securities selected for redemption and, in the case of any
Security selected for partial redemption, the principal amount thereof to be
redeemed.  Securities of a Series in denominations of $1,000 may be
redeemed only in whole.  The Trustee may select for redemption portions of
the principal of Securities of a Series that have denominations larger than
$1,000.  Securities of a Series and portions of them it selects shall
be in amounts of $1,000 or, with respect to Securities of any
Series issuable in other denominations pursuant to Section 2.2(10),
the minimum principal denomination for each Series and integral multiples
thereof.  Provisions of this Indenture that apply to Securities called for
redemption also apply to portions of Securities called for
redemption.

     

    3.3        
Notice of
Redemption.

     

    Unless
otherwise indicated for a particular Series by Board Resolution, a
supplemental indenture hereto or an Officers’ Certificate, at least 30 days, and
no more than 60 days, before a Redemption Date, the Company shall mail, or cause
to be mailed, a notice of redemption by first-class mail to each Holder of
Securities to be redeemed at his or her last address as the same appears on the
registry books maintained by the Registrar.

     

    The
notice shall identify the Securities to be redeemed (including the CUSIP
number(s) thereof, if any) and shall state:

     

    (1)           the
Redemption Date;

     

    (2)           the
redemption price;

     

    (3)           if
any Security of a Series is being redeemed in part, the portion of the
principal amount of such Security of a Series to be redeemed and that,
after the Redemption Date and upon surrender of such Security of a Series, a new
Security or Securities in principal amount equal to the unredeemed portion will
be issued;

     

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

     

    (5)           that
Securities of a Series called for redemption must be surrendered to the
Paying Agent to collect the redemption price, and the place or places where each
such Security is to be surrendered for such payment;

     

    (6)           that,
unless the Company defaults in making the redemption payment, interest on the
Securities of a Series called for redemption ceases to accrue on or after
the Redemption Date, and the only remaining right of the Holders of such
Securities is to receive payment of the redemption price upon surrender to the
Paying Agent of the Securities redeemed; and

    
      
         

      

      
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    (7)           if
fewer than all the Securities of a Series are to be redeemed, the
identification of the particular Securities of a Series (or portion
thereof) to be redeemed, as well as the aggregate principal amount of Securities
of a Series to be redeemed and the aggregate principal amount of Securities
of a Series to be outstanding after such partial redemption.

     

    At the
Company’s request, the Trustee shall give the notice of redemption in the
Company’s name and at the Company’s sole expense.

     

    3.4         Effect
of Notice of Redemption.

     

    Once the
notice of redemption described in Section 3.3 is mailed, Securities of a
Series called for redemption become due and payable on the Redemption Date
and at the redemption price, plus interest, if any, accrued to (but not
including) the Redemption Date.  Upon surrender to the Trustee or Paying
Agent, such Securities of a Series shall be paid at the redemption price,
plus accrued interest, if any, to (but not including) the Redemption Date, provided that if the
Redemption Date is after a regular interest payment record date and on or prior
to the next Interest Payment Date, the accrued interest shall be payable to the
Holder of the redeemed Securities registered on the relevant record date, as
specified by the Company in the notice to the Trustee pursuant to
Section 3.1 hereof.

     

    3.5         Deposit of Redemption
Price.

     

    On or
prior to the Redemption Date, the Company shall deposit with the Paying Agent
money sufficient to pay the redemption price of and accrued interest, if any, on
all Securities to be redeemed on that date other than Securities or portions
thereof called for redemption on that date which have been delivered by the
Company to the Trustee for cancellation.

     

    On and
after any Redemption Date, if money sufficient to pay the redemption price of
and accrued interest on Securities called for redemption shall have been made
available in accordance with the preceding paragraph and the Company and the
Paying Agent are not prohibited from paying such moneys to Holders, the
Securities called for redemption will cease to accrue interest and the only
right of the Holders of such Securities will be to receive payment of the
redemption price of and, subject to the proviso in Section 3.4, accrued and
unpaid interest on such Securities to the Redemption Date.  If any Security
called for redemption shall not be so paid, interest will be paid, from the
Redemption Date until such redemption payment is made, on the
unpaid principal of the Security and any premium or interest, if any, not paid
on such unpaid principal, in each case, at the rate and in the manner provided
in the Securities.

     

    3.6         Securities Redeemed in
Part.

     

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

    
      
         

      

      
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    ARTICLE
4

    COVENANTS

     

    4.1         Payment of
Securities.

     

    The
Company shall pay the principal of (and premium, if any) and interest, if any,
on each Series of Securities on the dates and in the manner provided in
such Securities and this Indenture.

     

    An
installment of principal or interest shall be considered paid on the date it is
due if the Trustee or Paying Agent holds on that date money designated for and
sufficient to pay such installment and is not prohibited from paying such money
to the Holders pursuant to the terms of this Indenture or
otherwise.

     

    The
Company shall pay interest on overdue principal, and overdue interest, to the
extent lawful, at the rate specified in the Series of
Securities.

     

    4.2         SEC Reports.

     

    The
Company will:

     

    (1)           file
with the Trustee, within 15 days after the Company is required to file the same
with the SEC, copies of the annual reports and of the information, documents,
and other reports (or copies of such portions of any of the foregoing as the SEC
may from time to time by rules and regulations prescribe) which the Company may
be required to file with the SEC 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 it will file with the
Trustee and the SEC, in accordance with rules and regulations prescribed from
time to time by the SEC, such of the supplementary and periodic information,
documents and reports which may be required pursuant to Section 13 of the
Exchange Act 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;

     

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

     

    (3)           comply
with all other provisions of TIA Section 314(a).

     

    4.3         Waiver of Stay, Extension or Usury
Laws.

     

    The
Company covenants (to the extent that it may lawfully do so) that they will not
at any time insist upon, or plead (as a defense or otherwise) or in any manner
whatsoever claim or take the benefit or advantage of, any stay, extension law,
usury law or other law which would prohibit or forgive the Company from paying
all or any portion of the principal of (and premium, if any) and interest, if
any, on the Securities as contemplated herein, wherever enacted, now or at any
time hereafter in force, or which may affect the covenants or the performance of
this Indenture; and (to the extent that they may lawfully do so) the Company
hereby expressly waives all benefit or advantage of any such law, and covenants
that it will not hinder, delay or impede the execution of any power herein
granted to the Trustee, but will suffer and permit the execution of every such
power as though no such law had been enacted.

    
      
         

      

      
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    4.4         Compliance
Certificate.

     

    (a)           The
Company shall deliver to the Trustee, within 90 days after the end of each
fiscal year of the Company, an Officers’ Certificate which complies with
TIA Section 314(a)(4) stating that a review of the activities of
the Company and its Subsidiaries during such fiscal year has been made under the
supervision of the signing Officers with a view to determining whether each has
kept, observed, performed and fulfilled its obligations under this Indenture,
and further stating, as to each such Officer signing such certificate, that to
the best of his or her knowledge each has kept, observed, performed and
fulfilled each and every covenant contained in this Indenture and is not in
default in the performance or observance of any of the terms, provisions and
conditions hereof (or, if a Default or Event of Default shall have occurred,
describing all such Defaults or Events of Default of which he or she may have
knowledge and what action each is taking or proposes to take with respect
thereto) and that to the best of his or her knowledge no event has occurred and
remains in existence by reason of which payments on account of the principal of
(and premium, if any) and interest, if any, on the Securities is prohibited or
if such event has occurred, a description of the event and what action each is
taking or proposes to take with respect thereto.

     

    (b)           (i) If
any Default or Event of Default has occurred and is continuing or (ii) if
any Holder seeks to exercise any remedy hereunder with respect to a claimed
Default under this Indenture or the Securities, the Company shall deliver to the
Trustee an Officers’ Certificate specifying such event, notice or other action
within five Business Days of its becoming aware of such occurrence and what
action the Company is taking or proposes to take with respect
thereto.

     

    4.5         Payment of Taxes and Other
Claims.

     

    The
Company shall pay or discharge or cause to be paid or discharged, before the
same shall become delinquent, (i) all taxes, assessments and governmental
charges (including withholding taxes and any penalties, interest and additions
to taxes) levied or imposed upon it or any of its Significant Subsidiaries or
properties of it or any of its Significant Subsidiaries and (ii) all lawful
claims for labor, materials and supplies that, if unpaid, might by law become a
Lien upon the property of it or any of its Significant Subsidiaries; provided, however, that neither
the Company nor any of its Significant Subsidiaries shall be required to pay or
discharge or cause to be paid or discharged any such tax, assessment, charge or
claim if the amount, applicability or validity thereof is being contested in
good faith by appropriate proceedings and an adequate reserve has been
established therefor to the extent required by GAAP.

    
      
         

      

      
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    4.6         Corporate
Existence.

     

    Subject
to Article 5 hereof, the Company shall do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate existence,
and the corporate or other existence of each Significant Subsidiary, in
accordance with the respective organizational documents (as the same may be
amended from time to time) of the Company and of each Significant Subsidiary,
and the rights (charter and statutory), licenses and franchises of the Company
and its Significant Subsidiaries; provided, however, that the
Company shall not be required to preserve any such right, license or franchise,
or the corporate or other existence of any of its Significant Subsidiaries, if
the Board of Directors shall determine that the preservation thereof is no
longer desirable in the conduct of the business of the Company and its
Significant Subsidiaries, taken as a whole, and that the loss thereof is not
adverse in any material respect to the Holders.

     

    4.7         Maintenance of
Properties.

     

    The
Company will cause all properties used or useful in the conduct of its business
or the business of any Subsidiary to be maintained and kept in good condition,
repair and working order and supplied with all necessary equipment and will
cause to be made all necessary repairs, renewals, replacements, betterments and
improvements thereof, all as in the judgment of the Company may be necessary so
that the business carried on in connection therewith may be properly and
advantageously conducted at all times; provided, however, that nothing
in this Section 4.7 shall prevent the Company from discontinuing the
operation or maintenance of any of such properties if such discontinuance is, in
the judgment of the Company, desirable in the conduct of its business or the
business of any Subsidiary and not disadvantageous in any material respect to
the Holders.

     

    ARTICLE
5

    SUCCESSOR
CORPORATION

     

    5.1         Limitation on Consolidation, Merger
and Sale of Assets.

     

    (a)           The
Company will not, in any transaction or series of transactions, merge or
consolidate with or into, or sell, assign, convey, transfer, lease or otherwise
dispose of all or substantially all of its properties and assets (as an entirety
or substantially as an entirety in one transaction or a series of related
transactions), to any Person or Persons, unless at the time of and after giving
effect thereto (i) either (A) if the transaction or series of
transactions is a merger or consolidation, the Company shall be the surviving
Person of such merger or consolidation, or (B) the Person formed by such
consolidation or into which the Company is merged or to which the properties and
assets of the Company are transferred (any such surviving person or transferee
Person being the “Surviving
Entity”) shall be a corporation organized and existing under the laws of
the United States of America, any state thereof or the District of Columbia and
shall expressly assume by a supplemental indenture executed and delivered to the
Trustee, in form
reasonably satisfactory to the Trustee, all the obligations of the Company
(including, without limitation, the obligation to pay the principal of (and
premium, if any) and interest, if any, on the Securities and the performance of
the other covenants) under the Securities of each Series and this
Indenture, and in each case, this Indenture shall remain in full force and
effect; and (ii) immediately before and immediately after giving effect to
such transaction or series of transactions on a pro forma basis (including,
without limitation, any Indebtedness incurred or anticipated to be incurred in
connection with or in respect of such transaction or series of transactions), no
Default or Event of Default shall have occurred and be
continuing.

    
      
         

      

      
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    (b)           In
connection with any consolidation, merger or transfer of assets contemplated by
this Section 5.1, the Company shall deliver, or cause to be delivered, to
the Trustee, in form and substance reasonably satisfactory to the Trustee, an
Officers’ Certificate and an Opinion of Counsel, each stating that such
consolidation, merger or transfer and the supplemental indenture in respect
thereto comply with this Section 5.1 and that all conditions precedent
herein provided for relating to such transaction or transactions have been
complied with.

     

    5.2         Successor Person
Substituted.

     

    Upon any
consolidation or merger, or any transfer of all or substantially all of the
assets of the Company in accordance with Section 5.1 hereof, the successor
corporation formed by such consolidation or into which the Company is merged or
to which such transfer is made shall succeed to, and be substituted for, and may
exercise every right and power of, the Company under this Indenture with the
same effect as if such successor corporation had been named as the Company
herein, and thereafter (except with respect to any such transfer which is a
lease) the predecessor corporation shall be relieved of all obligations and
covenants under this Indenture and the Securities.

     

    ARTICLE
6

    DEFAULTS
AND REMEDIES

     

    6.1         Events of
Default.

     

    “Events of Default,” wherever
used herein with respect to Securities of any Series, means any one of the
following events, unless in the establishing Board Resolution, supplemental
indenture or Officers’ Certificate, it is provided that such Series shall
not have the benefit of said Event of Default:

     

    (1)           there
is a default in the payment of any principal of or premium, if any, on the
Securities when the same becomes due and payable at maturity, upon acceleration,
redemption or otherwise;

     

    (2)           there
is a default in the payment of any interest on any Security of a
Series when the same becomes due and payable and the Default continues for
a period of 30 days;

    
      
         

      

      
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    (3)           the
Company defaults in the observance or performance of any other covenant in the
Securities of a Series or this Indenture for 90 days after written notice
from the Trustee or the Holders of not less than 25% in the aggregate principal
amount of the Securities of such Series then outstanding;

     

    (4)           the
Company or any Significant Subsidiary pursuant to or within the meaning of any
Bankruptcy Law:

     

    (A)           commences
a voluntary case,

     

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

     

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

     

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

     

    (E)           generally
is not paying its debts as they become due;

     

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

     

    (A)           is
for relief against the Company or any Significant Subsidiary in an involuntary
case;

     

    (B)           appoints
a Custodian of the Company or any Significant Subsidiary or for all or
substantially all of the property of the Company or any Significant Subsidiary;
or

     

    (C)           orders
the liquidation of the Company or any Significant Subsidiary, and the order or
decree remains unstayed and in effect for 60 days; or

     

    (6)           any
other Event of Default provided with respect to Securities of that Series, which
is specified in a Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate, in accordance with Section 2.2(18).

     

    The
Trustee may withhold notice of any Default (except in payment of principal of
(and premium, if any) and interest, if any, on the Securities) to the Holders of
the Securities of any Series in accordance with
Section 7.5.

    
      
         

      

      
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    6.2         Acceleration.

     

    If an
Event of Default with respect to Securities of any Series at the time
outstanding (other than an Event of Default arising under
Section 6.1(4) or (5)) occurs and is continuing, the Trustee by
written notice to the Company, or the Holders of not less than 25% in aggregate
principal amount of the Securities of that Series then outstanding may by
written notice to the Company and the Trustee declare that the entire principal
amount of all the Securities of that Series then outstanding plus accrued
and unpaid interest to the date of acceleration are immediately due and payable,
in which case such amounts shall become immediately due and payable; provided, however, that after
such acceleration but before a judgment or decree based on such acceleration is
obtained by the Trustee, the Holders of a majority in aggregate principal amount
of the outstanding Securities of that Series may rescind and annul such
acceleration and its consequences if (i) all existing Events of Default,
other than the nonpayment of accelerated principal (and premium, if any) or
interest that has become due solely because of the acceleration, have been cured
or waived, (ii) to the extent the payment of such interest is lawful,
interest on overdue installments of interest and overdue principal, which has
become due otherwise than by such declaration of acceleration, has been paid and
(iii) the rescission would not conflict with any judgment or decree. 
No such rescission shall affect any subsequent Default or impair any right
consequent thereto.  In case an Event of Default specified in
Section 6.1(4) or (5) with respect to the Company occurs, such
principal (and premium, if any) and interest amount with respect to all of the
Securities of that Series shall be due and payable immediately without any
declaration or other act on the part of the Trustee or the Holders of the
Securities of that Series.

     

    6.3         Other Remedies.

     

    If an
Event of Default with respect to Securities of any Series at the time
outstanding occurs and is continuing, the Trustee may pursue any available
remedy by proceeding at law or in equity to collect the payment of principal of
(and premium, if any) and interest, if any, on the Securities of that
Series or to enforce the performance of any provision of the Securities of
that Series or this Indenture.

     

    The
Trustee may maintain a proceeding even if it does not possess any of the
Securities of that Series or does not produce any of them in the
proceeding.  A delay or omission by the Trustee or any Securityholder in
exercising any right or remedy accruing upon an Event of Default shall not
impair the right or remedy or constitute a waiver of or acquiescence in the
Event of
Default.  No remedy is exclusive of any other remedy.  All available
remedies are cumulative to the extent permitted by law.

     

    6.4         Waiver of Past Defaults and Events of
Default.

     

    Subject
to Sections 6.2, 6.7 and 8.2 hereof, the Holders of a majority in principal
amount of the Securities of any Series then outstanding have the right to
waive any existing Default or Event of Default with respect to such
Series or compliance with any provision of this Indenture (with respect to
such Series) or the Securities of such Series.  Upon any such waiver, such
Default with respect to such Series shall cease to exist, and any Event of
Default with respect to such Series arising therefrom shall be deemed to
have been cured for every purpose of this Indenture; but no such waiver shall
extend to any subsequent or other Default or Event of Default or impair any
right consequent thereto.

    
      
         

      

      
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    6.5         Control by
Majority.

     

    The
Holders of a majority in principal amount of the Securities of any
Series then outstanding may 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 by this Indenture with respect to such
Series.  The Trustee, however, may refuse to follow any direction that
conflicts with law or this Indenture or that the Trustee determines may be
unduly prejudicial to the rights of another Securityholder or that may involve
the Trustee in personal liability; provided that the
Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction.

     

    6.6         Limitation on
Suits.

     

    Subject
to Section 6.7 below, a Securityholder may not institute any proceeding or
pursue any remedy with respect to this Indenture or the Securities of a
Series unless:

     

    (1)           the
Holder gives to the Trustee written notice of a continuing Event of Default with
respect to the Securities of that Series;

     

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

     

    (3)           such
Holder or Holders offer to the Trustee indemnity reasonably satisfactory to the
Trustee against any loss, liability or expense to be incurred in compliance with
such request;

     

    (4)           the
Trustee does not comply with the request within 60 days after receipt of the
request and the offer of indemnity; and

     

    (5)           no
direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in aggregate principal
amount of the Securities of such Series then outstanding.

     

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

     

    6.7         Rights of Holders To Receive
Payment.

     

    Notwithstanding
any other provision of this Indenture, the right of any Holder of a Security of
a Series to receive payment of principal of (and premium, if any) and
interest, if any, on the Security of such Series on or after the respective
due dates expressed in the Security of such Series, or to bring suit for the
enforcement of any such payment on or after such respective dates, is absolute
and unconditional and shall not be impaired or affected without the consent of
the Holder.

    
      
         

      

      
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    6.8         Collection Suit by
Trustee.

     

    If an
Event of Default in payment of principal, premium or interest specified in
Section 6.1(1) or (2) hereof with respect to Securities of any
Series at the time outstanding occurs and is continuing, the Trustee may
recover judgment in its own name and as trustee of an express trust against the
Company (or any other obligor on the Securities of that Series) for the whole
amount of unpaid principal and accrued interest remaining unpaid, together with
interest on overdue principal and, to the extent that payment of such interest
is lawful, interest on overdue installments of interest, in each case at the
rate then borne by the Securities of that Series, and such further amounts as
shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel.

     

    6.9         Trustee May File Proofs of
Claim.

     

    The
Trustee may file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any
claim for the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel) and the Securityholders allowed in any
judicial proceedings relative to the Company (or any other obligor upon the
Securities), any of their respective creditors or any of their respective
property and shall be entitled and empowered to collect and receive any monies
or other property payable or deliverable on any such claims and to distribute
the same after deduction of its charges and expenses to the extent that any such
charges and expenses are not paid out of the estate in any such proceedings and
any custodian in any such judicial proceeding is hereby authorized by each
Securityholder to make such payments to the Trustee, and in the event that the
Trustee shall consent to the making of such payments directly to the
Securityholders, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.7
hereof.

     

    Nothing
herein contained shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Securityholder any plan or
reorganization, arrangement, adjustment or composition affecting the Securities
of a 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
proceedings.

     

    6.10       Priorities.

     

    If the
Trustee collects any money pursuant to this Article 6, it shall pay out the
money in the following order:

     

    FIRST: 
to the Trustee for amounts due under Section 7.7 hereof;

     

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

    
      
         

      

      
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    THIRD: 
to the Company.

     

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

     

    6.11       Undertaking for
Costs.

     

    In any
suit for the enforcement of any right or remedy under this Indenture or in any
suit against the Trustee for any action taken or omitted by it as Trustee, a
court in its discretion may require the filing by any party litigant in the suit
of an undertaking to pay the costs of the suit, and the court in its discretion
may assess reasonable costs, including reasonable attorneys’ fees, against any
party litigant in the suit, having due regard to the merits and good faith of
the claims or defenses made by the party litigant.  This Section 6.11
does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 6.7 hereof or a suit by Holders of more than 10% in principal
amount of the Securities of a Series then outstanding.

     

    ARTICLE
7

    TRUSTEE

     

    7.1         Duties of
Trustee.

     

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

     

    (b)           Except
during the continuance of an Event of Default:

     

    (1)           The
Trustee need perform only those duties that are specifically set forth in this
Indenture and no covenants or obligations shall be implied in this Indenture
against the Trustee.

     

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

     

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

    
      
         

      

      
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    (1)           This
paragraph does not limit the effect of paragraph (b) of this
Section 7.1.

     

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

     

    (3)           The
Trustee shall not be liable with respect to any action it takes or omits to take
in good faith in accordance with a direction received by it pursuant to Sections
6.2 and 6.5 hereof.

     

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

     

    (e)           Whether
or not therein expressly so provided, paragraphs (a), (b), (c) and
(d) of this Section 7.1 shall govern every provision of this Indenture
that in any way relates to the Trustee.

     

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

     

    (g)           The
Paying Agent, the Registrar and any authenticating agent shall be entitled to
the protections, immunities and standard of care set forth in paragraphs (a),
(b), (c), and (d) of this Section 7.1 and in Section 7.2 with
respect to the Trustee.

     

    7.2         Rights of
Trustee.

     

    (a)           Subject
to Section 7.1 hereof:

     

    (1)           The
Trustee may rely on and shall be protected in acting or refraining from acting
upon any document reasonably believed by it to be genuine and to have been
signed or presented by the proper person.  The Trustee need not investigate
any fact or matter stated in the document.

     

    (2)           Before
the Trustee acts or refrains from acting, it may require an Officers’
Certificate or an Opinion of Counsel, or both, which shall conform to the
provisions of Section 10.5 hereof.  The Trustee shall be protected and
shall not be liable for any action it takes or omits to take in good faith in
reliance on such certificate or opinion.

     

    (3)           The
Trustee may act through agents and shall not be responsible for the misconduct
or negligence of any agent appointed by it with due care.

    
      
         

      

      
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    (4)           The
Trustee shall not be liable for any action it takes or omits to take in good
faith which it reasonably believes to be authorized or within its rights or
powers.

     

    (5)           The
Trustee may consult with counsel of its selection, and the advice or opinion of
such counsel as to matters of law shall be full and complete authorization and
protection from liability in respect of any action taken, omitted or suffered by
it hereunder in good faith and in accordance with the advice or opinion of such
counsel.

     

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

     

    (7)           The
Trustee shall not be deemed to have knowledge of any fact or matter unless such
fact or matter is known to a Responsible Officer of the Trustee.

     

    7.3           Individual Rights of
Trustee.

     

    The
Trustee in its individual or any other capacity may become the owner or pledgee
of Securities and may make loans to, accept deposits from, perform services for
or otherwise deal with the Company, or any Affiliate thereof, with the same
rights it would have if it were not Trustee.  Any Agent may do the same
with like rights.  The Trustee, however, shall be subject to
Sections 7.10 and 7.11 hereof.

     

    7.4           Trustee’s
Disclaimer.

     

    The
Trustee makes no representation as to the validity or adequacy of this Indenture
or the Securities (except that the Trustee represents that it is duly authorized
to execute and deliver this Indenture and authenticate the Securities and
perform its obligations hereunder), it shall not be accountable for the
Company’s use of the proceeds from the sale of Securities or any money paid to
the Company pursuant to the terms of this Indenture and it shall not be
responsible for any statement in the Securities other than its certificates of
authentication.

     

    7.5           Notice of
Default.

     

    If a
Default or an Event of Default occurs and is continuing with respect to the
Securities of any Series and if it is known to the Trustee, the Trustee
shall mail to each Securityholder of the Securities of that Series notice
of the Default or the Event of Default, as the case may be, within 30 days after
it occurs.  Except in the case of a Default or an Event of Default in
payment of the principal of (and premium, if any) and interest, if any, on any
Security of any Series, the Trustee may withhold the notice if and so long as
the Board of Directors of the Trustee, the executive committee or any trust
committee of such board and/or its Responsible Officers in good faith
determine(s) that withholding the notice is in the interests of the
Securityholders of that Series.

    
      
         

      

      
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    7.6           Reports by Trustee to
Holders.

     

    If and to
the extent required by the TIA, within 60 days after September 1 of each
year, commencing the September 1 following the date of this Indenture, the
Trustee shall mail to each Securityholder a brief report dated as of such
September 1 that complies with TIA Section 313(a).  The Trustee
also shall comply with TIA Sections 313(b) and 313(c).

     

    A copy of
each report at the time of its mailing to Securityholders shall be filed with
the SEC and any stock exchange on which the Securities of that Series are
listed.  The Company shall promptly notify the Trustee when the Securities
of any Series are listed on any stock exchange, and the Trustee shall
comply with TIA Section 313(d).

     

    7.7           Compensation and
Indemnity.

     

    The
Company shall pay to the Trustee from time to time reasonable compensation for
its services.  The Trustee’s compensation shall not be limited by any
provision of law on compensation of a trustee of an express trust.  The
Company shall reimburse the Trustee upon request for all reasonable
disbursements, expenses and advances incurred or made by it in connection with
its duties under this Indenture, including the reasonable compensation,
disbursements and expenses of the Trustee’s agents and counsel.

     

    The
Company shall indemnify the Trustee for, and hold it harmless against, any and
all loss or liability incurred by it in connection with the acceptance or
performance of its duties under this Indenture including the reasonable costs
and expenses of defending itself against any claim or liability in connection
with the exercise or performance of any of its powers or duties hereunder. 
The Trustee shall notify the Company promptly of any claim asserted against the
Trustee for which it may seek indemnity.  However, the failure by the
Trustee to so notify the Company shall not relieve the Company of its
obligations.  Notwithstanding the foregoing, the Company need not reimburse
the Trustee for any expense or indemnify it against any loss or liability
incurred by the Trustee through its negligence or bad faith.

     

    To secure
the payment obligations of the Company in this Section 7.7, the Trustee
shall have a Lien prior to the Securities of any Series on all money or
property held or collected by the Trustee, except such money or property held in
trust to pay principal of (and premium, if any) and interest, if any, on
particular Securities of that Series.

     

    When the
Trustee incurs expenses or renders services after an Event of Default specified
in Section 6.1(4) or (5) hereof occurs, the expenses and the
compensation for the services are intended to constitute expenses of
administration under any Bankruptcy Law.

     

    For
purposes of this Section 7.7, the term “Trustee” shall include any
trustee appointed pursuant to Article 9.

    
      
         

      

      
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    7.8           Replacement of
Trustee.

     

    The
Trustee may resign with respect to the Securities of one or more Series by
so notifying the Company in writing at least 90 days in advance of such
resignation.

     

    The
Holders of a majority in principal amount of the outstanding Securities of any
Series may remove the Trustee with respect to that Series by notifying
the removed Trustee in writing and may appoint a successor Trustee with respect
to that Series with the written consent of the Company, which consent shall
not be unreasonably withheld.  The Company may remove the Trustee with
respect to that Series at its election if:

     

    (1)           the
Trustee fails to comply with, or ceases to be eligible under, Section 7.10
hereof;

     

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

     

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

     

    (4)           the
Trustee otherwise becomes incapable of acting.

     

    If the
Trustee resigns or is removed or if a vacancy exists in the office of Trustee
with respect to any Series of Securities for any reason, the Company shall
promptly notify each Holder of such event and shall promptly appoint a successor
Trustee.

     

    If a
successor Trustee with respect to the Securities of one or more Series does
not take office within 60 days after the retiring Trustee resigns or is removed,
the retiring Trustee, the Company or the Holders of at least 10% in principal
amount of the outstanding Securities of the applicable Series may petition
any court of competent jurisdiction for the appointment of a successor
Trustee.

     

    If the
Trustee with respect to the Securities of one or more Series fails to
comply with Section 7.10 hereof, any Securityholder of the applicable
Series may petition any court of competent jurisdiction for the removal of
the Trustee and the appointment of a successor Trustee.

     

    A
successor Trustee shall deliver a written acceptance of its appointment to the
retiring Trustee and to the Company.  Immediately following such delivery
(i) the retiring Trustee with respect to one or more Series shall,
subject to its rights under Section 7.7 hereof, transfer all property held
by it as Trustee with respect to such Series to the successor Trustee,
(ii) the resignation
or removal of the retiring Trustee shall become effective, and (iii) the
successor Trustee with respect to such Series shall have all the rights,
powers and duties of the Trustee under this Indenture.  A successor Trustee
with respect to the Securities of one or more Series shall mail notice of
its succession to each Securityholder of such Series.

    
      
         

      

      
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    7.9           Successor Trustee by Consolidation,
Merger or Conversion.

     

    If the
Trustee consolidates with, merges or converts into, or transfers all or
substantially all of its corporate trust assets to, another corporation, subject
to Section 7.10 hereof, the successor corporation without any further act
shall be the successor Trustee.

     

    7.10         Eligibility;
Disqualification.

     

    This
Indenture shall always have a Trustee who satisfies the requirements of TIA
Sections 310(a)(1), (2) and (5) in every respect.  The Trustee
shall have a combined capital and surplus of at least $50,000,000 as set forth
in its most recent published annual report of condition. The Trustee shall
comply with TIA Section 310(b), including the provision in
Section 310(b)(1).  If at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section 7.10, it shall
resign immediately in the manner and with the effect specified in this
Article 7.

     

    7.11         Preferential Collection of Claims
Against Company.

     

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

     

    7.12         Paying Agents.

     

    The
Company shall cause each Paying Agent other than the Trustee to execute and
deliver to it and the Trustee an instrument in which such agent shall agree with
the Trustee, subject to the provisions of this Section 7.12:

     

    (1)           that
it will hold all sums held by it as agent for the payment of principal of (and
premium, if any) and interest, if any, on the Securities (whether such sums have
been paid to it by the Company or by any obligor on the Securities) in trust for
the benefit of Holders of the Securities or the Trustee;

     

    (2)           that
it will at any time during the continuance of any Event of Default, upon written
request from the Trustee, deliver to the Trustee all sums so held in trust by it
together with a full accounting thereof; and

     

    (3)           that
it will give the Trustee written notice within three (3) Business Days of
any failure of the Company (or by any obligor on the Securities) in the payment
of any installment of the principal of (and premium, if any) and interest, if
any, on the Securities when the same shall be due and payable.

    
      
         

      

      
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    ARTICLE
8

    AMENDMENTS,
SUPPLEMENTS AND WAIVERS

     

    8.1           Without Consent of
Holders.

     

    The
Company, when authorized by a Board Resolution, and the Trustee may amend or
supplement this Indenture or the Securities of one or more Series without
notice to or consent of any Securityholder:

     

    (1)           to
comply with Section 5.1 hereof;

     

    (2)           to
provide for uncertificated Securities in addition to certificated
Securities;

     

    (3)           to
comply with any requirements of the SEC under the TIA;

     

    (4)           to
cure any ambiguity, defect or inconsistency, or to make any other change that
does not adversely affect the rights of any Securityholder;

     

    (5)           to
provide for the issuance of and establish the form and terms and conditions of
Securities of any Series as permitted by this Indenture; or

     

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

     

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

     

    8.2           With Consent of
Holders.

     

    (a)           The
Company, when authorized by a Board Resolution, and the Trustee may amend or
supplement this Indenture or the Securities of one or more Series with the
written consent of the Holders of not less than a majority in aggregate
principal amount of the outstanding Securities of such Series affected by
such amendment or supplement without notice to any Securityholder.  The
Holders of not less than a majority in aggregate principal amount of the
outstanding Securities of each such Series affected by such amendment or
supplement may waive compliance in a particular instance by the Company with any
provision of this Indenture or the Securities of such Series without notice
to any Securityholder.  Subject to Section 8.4, without the consent of
each Securityholder affected, however, an amendment, supplement or waiver,
including a waiver pursuant to Section 6.4, may not:

    
      
         

      

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

     

    (2)           reduce
the rate of or change the time for payment of interest on any
Security;

     

    (3)           reduce
the principal or change the Stated Maturity of any Security or reduce the amount
of, or postpone the date fixed for, the payment of any sinking fund or analogous
obligation;

     

    (4)           make
any Security payable in money other than that stated in the
Security;

     

    (5)           change
the amount or time of any payment required by the Securities or reduce the
premium payable upon any redemption of the Securities, or change the time before
which no such redemption may be made;

     

    (6)           waive
a Default or Event of Default in the payment of the principal of (and premium,
if any) and interest, if any, on any Security (except a rescission of
acceleration of the Securities of any Series by the Holders of at least a
majority in principal amount of the outstanding Securities of such
Series and a waiver of the payment default that resulted from such
acceleration);

     

    (7)           waive
a redemption payment with respect to any Security or change any of the
provisions with respect to the redemption of any Securities;

     

    (8)           make
any changes in Sections 6.4 or 6.7 hereof or this Section 8.2, except to
increase any percentage of Securities the Holders of which must consent to any
matter; or

     

    (9)           take
any other action otherwise prohibited by this Indenture to be taken without the
consent of each Holder affected thereby.

     

    (b)           Upon
the request of the Company, accompanied by a Board Resolution authorizing the
execution of any such supplemental indenture, and upon the receipt by the
Trustee of evidence reasonably satisfactory to the Trustee of the consent of the
Securityholders as aforesaid and upon receipt by the Trustee of the documents
described in Section 8.6 hereof, the Trustee shall join with the Company in
the execution of such supplemental indenture unless such supplemental indenture
affects the Trustee’s own rights, duties or immunities under this Indenture, in
which case the Trustee may in its discretion, but shall not be obligated to,
enter into such supplemental indenture.

     

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

    
      
         

      

      
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    8.3           Compliance with Trust Indenture
Act.

     

    Every
amendment to or supplement of this Indenture or the Securities shall comply with
the TIA as then in effect.

     

    8.4           Revocation and Effect of
Consents.

     

    Until an
amendment, supplement, waiver or other action becomes effective, a consent to it
by a Holder of a Security is a continuing consent conclusive and binding upon
such Holder and every subsequent Holder of the same Security or portion thereof,
and of any Security issued upon the transfer thereof or in exchange therefor or
in place thereof, even if notation of the consent is not made on any such
Security.  Any such Holder or subsequent Holder, however, may revoke the
consent as to his Security or portion of a Security, if the Trustee receives the
notice of revocation before the date the amendment, supplement, waiver or other
action becomes effective.

     

    The
Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to consent to any amendment, supplement, or
waiver which record date shall be at least 30 days prior to the first
solicitation of such consent.  If a record date is fixed, then,
notwithstanding the preceding paragraph, those Persons who were Holders at such
record date (or their duly designated proxies), and only such Persons, shall be
entitled to consent to such amendment, supplement, or waiver or to revoke any
consent previously given, whether or not such Persons continue to be Holders
after such record date.  No such consent shall be valid or effective for
more than 90 days after such record date without the applicable amendment,
supplement or waiver becoming effective.

     

    After an
amendment, supplement, waiver or other action becomes effective, it shall bind
every Securityholder, unless it makes a change described in any of clauses
(1) through (9) of Section 8.2 hereof.  In that case the
amendment, supplement, waiver or other action shall bind each Holder of a
Security who has consented to it and every subsequent Holder of a Security or
portion of a Security that evidences the same debt as the consenting Holder’s
Security; provided that any
such waiver shall not impair or affect the right of any Holder to receive
payment of principal of (and premium, if any) and interest, if any, on a
Security, on or after the respective due dates expressed in such Security, or to
bring suit for the enforcement of any such payment on or after such respective
dates without the consent of such Holder.

     

    8.5           Notation on or Exchange of
Securities.

     

    If an
amendment, supplement, or waiver changes the terms of a Security of any Series,
the Trustee may request the Holder of such Security to deliver it to the
Trustee.  In such case, the Trustee shall place an appropriate notation on
such Security about the changed terms and return it to the Holder. 
Alternatively, if the Company or the Trustee so determines, the Company in
exchange for such Security shall issue and the Trustee shall authenticate a new
security that reflects the changed terms.  Failure to make the appropriate
notation or issue a new Security shall not affect the validity and effect of
such amendment, supplement or waiver.

      

      
        
           

        

        
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    8.6           Trustee to Sign Amendments,
Etc.

     

    The
Trustee shall sign any amendment, supplement or waiver authorized pursuant to
this Article 8 if the amendment, supplement or waiver does not adversely
affect the rights, duties, liabilities or immunities of the Trustee.  If it
does, the Trustee may, but need not, sign it.  In signing such amendment,
supplement or waiver the Trustee shall be entitled to receive and, subject to
Section 7.1 hereof, shall be fully protected in relying upon an Officers’
Certificate and an Opinion of Counsel stating that such amendment, supplement or
waiver is authorized or permitted by this Indenture.  The Company may not
sign an amendment or supplement until the Board of Directors of the Company
approves it.

     

    ARTICLE
9

    DISCHARGE
OF INDENTURE; DEFEASANCE

     

    9.1           Discharge of
Indenture.

     

    The
Company may terminate its obligations under the Securities of any
Series and this Indenture with respect to such Series, except the
obligations referred to in the last paragraph of this Section 9.1, if there
shall have been canceled by the Trustee or delivered to the Trustee for
cancellation all Securities of such Series theretofore authenticated and
delivered (other than any Securities of such Series that are asserted to
have been destroyed, lost or stolen and that shall have been replaced as
provided in Section 2.8 hereof) and the Company has paid all sums payable
by it hereunder or deposited all required sums with the Trustee.

     

    After
such delivery the Trustee upon request shall acknowledge in writing the
discharge of the Company’s obligations under the Securities of such
Series and this Indenture except for those surviving obligations specified
below.

     

    Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company
in Sections 7.7, 9.5 and 9.6 hereof shall survive.

     

    9.2           Legal Defeasance.

     

    The
Company may at its option, by Board Resolution, be discharged from its
obligations with respect to the Securities of any Series on the date the
conditions set forth in Section 9.4 below are satisfied (hereinafter,
“Legal
Defeasance”).  For this purpose, such Legal Defeasance means that
the Company shall be deemed to have paid and discharged the entire indebtedness
represented by the Securities of such Series and to have satisfied all its
other obligations under such Securities and this Indenture insofar as such
Securities are concerned (and the Trustee, at the expense of the Company, shall,
subject to Section 9.6 hereof, execute proper instruments acknowledging the
same), except for the following which shall survive until otherwise terminated
or discharged hereunder:  (A) the rights of Holders of outstanding
Securities of such Series to receive solely from the trust funds described
in Section 9.4 hereof and as more fully set forth in such section, payments
in respect of the principal of (and premium, if any) and interest, if any, on
the Securities of such Series when such payments are due, (B) the
Company’s obligations with respect to the Securities of such Series under
Sections 2.4, 2.5, 2.6, 2.7, 2.8 and 2.9 hereof, (C) the rights, powers,
trusts, duties, and immunities of the Trustee hereunder (including claims of, or
payments to, the Trustee under or pursuant to Section 7.7 hereof) and
(D) this Article 9.  Subject to compliance with this
Article 9, the Company may exercise its option under this Section 9.2
with respect to the Securities of any Series notwithstanding the prior
exercise of its option under Section 9.3 below with respect to the
Securities of such Series.

    
      
         

      

      
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    9.3           Covenant
Defeasance.

     

    At the
option of the Company, pursuant to a Board Resolution, the Company shall be
released from its obligations under Sections 4.2 through 4.7 hereof, inclusive,
and Section 5.1 hereof, with respect to the outstanding Securities of any
Series, on and after the date the conditions set forth in Section 9.4
hereof are satisfied (hereinafter, “Covenant Defeasance”). 
For this purpose, such Covenant Defeasance means that the Company may omit to
comply with and shall have no liability in respect of any term, condition or
limitation set forth in any such specified section or portion thereof, whether
directly or indirectly by reason of any reference elsewhere herein to any such
specified Section or portion thereof or by reason of any reference in any
such specified section or portion thereof to any other provision herein or in
any other document, but the remainder of this Indenture and the Securities of
any Series shall be unaffected thereby.

     

    9.4           Conditions to Legal Defeasance or
Covenant Defeasance.

     

    The
following shall be the conditions to application of Section 9.2 or
Section 9.3 hereof to the outstanding Securities of a Series:

     

    (1)           the
Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee satisfying the requirements of Section 7.10
hereof who shall agree to comply with the provisions of this Article 9
applicable to it) as funds in trust for the purpose of making the following
payments, specifically pledged as security for, and dedicated solely to, the
benefit of the Holders of the Securities, (A) money in an amount, or
(B) U.S.  Government Obligations or Foreign Government Obligations
which through the scheduled payment of principal and interest in respect thereof
in accordance with their terms will provide, not later than the due date of any
payment, money in an amount, or (C) a combination thereof, sufficient, in
the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay
and discharge, and which shall be applied by the Trustee (or other qualifying
trustee) to pay and discharge, the principal of (and premium, if any) and
interest, if any, on the outstanding Securities of such Series at the
Stated Maturity of such principal, premium, if any, or interest, if any, or on
dates for payment and redemption of such principal, premium, if any, and
interest, if any, selected in accordance with the terms of this Indenture and of
the Securities of such Series;

     

    (2)           no
Event of Default or Default with respect to the Securities of such
Series shall have occurred and be continuing on the date of such deposit,
or shall have occurred and be continuing at any time during the period ending on
the 91st day after the date of such deposit or, if longer, ending on the day
following the expiration of the longest preference period under any Bankruptcy
Law applicable to the Company in respect of such deposit (it being understood
that this condition shall not be deemed satisfied until the expiration of such
period);

    
      
         

      

      
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    (3)           such
Legal Defeasance or Covenant Defeasance shall not cause the Trustee to have a
conflicting interest for purposes of the TIA with respect to any securities of
the Company;

     

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

     

    (5)           the
Company shall have delivered to the Trustee an Opinion of Counsel stating that,
as a result of such Legal Defeasance or Covenant Defeasance, neither the trust
nor the Trustee will be required to register as an investment company under the
Investment Company Act of 1940, as amended;

     

    (6)           in
the case of an election under Section 9.2 hereof, the Company shall have
delivered to the Trustee an Opinion of Counsel stating that (i) the Company
has received from, or there has been published by, the Internal Revenue Service
a ruling to the effect that or (ii) there has been a change in any
applicable Federal income tax law with the effect that, and such opinion shall
confirm that, the Holders of the outstanding Securities of such Series or
persons in their positions will not recognize income, gain or loss for Federal
income tax purposes solely as a result of such Legal Defeasance and will be
subject to Federal income tax on the same amounts, in the same manner, including
as a result of prepayment, and at the same times as would have been the case if
such Legal Defeasance had not occurred;

     

    (7)           in
the case of an election under Section 9.3 hereof, the Company shall have
delivered to the Trustee an Opinion of Counsel to the effect that the Holders of
the outstanding Securities of such Series will not recognize income, gain
or loss for Federal income tax purposes as a result of such Covenant Defeasance
and will be subject to Federal income tax on the same amounts, in the same
manner and at the same times as would have been the case if such Covenant
Defeasance had not occurred;

     

    (8)           the
Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for in
this Article 9 relating to either the Legal Defeasance under
Section 9.2 hereof or the Covenant Defeasance under Section 9.3 hereof
(as the case may be) have been complied with;

     

    (9)           the
Company shall have delivered to the Trustee an Officers’ Certificate stating
that the deposit under clause (1) was not made by the Company with the
intent of defeating, hindering, delaying or defrauding any creditors of the
Company or others; and

    
      
         

      

      
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    (10)         the
Company shall have paid or duly provided for payment under terms mutually
satisfactory to the Company and the Trustee all amounts then due to the Trustee
pursuant to Section 7.7 hereof.

      

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

     

    All
money, U.S. Government Obligations and Foreign Government Obligations (including
the proceeds thereof) deposited with the Trustee pursuant to Section 9.4
hereof in respect of the outstanding Securities shall be held in trust and
applied by the Trustee, in accordance with the provisions of such Securities and
this Indenture, to the payment, either directly or through any Paying Agent as
the Trustee may determine, to the Holders of such Securities, of all sums due
and to become due thereon in respect of principal, premium, if any, and
interest, if any, but such money need not be segregated from other funds except
to the extent required by law.

     

    The
Company shall pay and indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against the U.S. Government Obligations and Foreign
Government Obligations deposited pursuant to Section 9.4 hereof or the
principal, premium, if any, and interest, if any, received in respect thereof
other than any such tax, fee or other charge which by law is for the account of
the Holders of the outstanding Securities.

     

    Anything
in this Article 9 to the contrary notwithstanding, the Trustee shall
deliver or pay to the Company from time to time upon Company Request any money,
U.S. Government Obligations or Foreign Government Obligations held by it as
provided in Section 9.4 hereof which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, are in excess of the amount
thereof which would then be required to be deposited to effect an equivalent
Legal Defeasance or Covenant Defeasance.

     

    9.6           Reinstatement.

     

    If the
Trustee or Paying Agent is unable to apply any money, U.S. Government
Obligations or Foreign Government Obligations in accordance with
Section 9.1, 9.2, 9.3 or 9.4 hereof by reason of any legal proceeding or by
reason of any order or judgment of any court or governmental authority
enjoining, restraining or otherwise prohibiting such application, the Company’s
obligations under this Indenture and the Securities shall be revived and
reinstated as though no deposit had occurred pursuant to this Article 9
until such time as the Trustee or Paying Agent is permitted to apply all such
money, U.S. Government Obligations or Foreign Government Obligations, as the
case may be, in accordance with Section 9.1, 9.2, 9.3 or 9.4 hereof; provided, however, that if the
Company has made any payment of principal of (and premium, if any) and interest,
if any, on any Securities because of the reinstatement of their obligations, the
Company shall be subrogated to the rights of the Holders of such Securities to
receive such payment from the money, U.S. Government Obligations or Foreign
Government Obligations held by the Trustee or Paying Agent.

    
      
         

      

      
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    9.7           Moneys Held by Paying
Agent.

     

    In
connection with the satisfaction and discharge of this Indenture, all moneys
then held by any Paying Agent under the provisions of this Indenture shall, upon
demand of the Company, be paid to the Trustee, or if sufficient moneys have been
deposited pursuant to Section 9.1 hereof,
to the Company, and thereupon such Paying Agent shall be released from all
further liability with respect to such moneys.

     

    9.8           Moneys Held by
Trustee.

     

    Any
moneys deposited with the Trustee or any Paying Agent or then held by the
Company in trust for the payment of the principal of (and premium, if any) and
interest, if any, on any Security that are not applied but remain unclaimed by
the Holder of such Security for two years after the date upon which the
principal of (and premium, if any) and interest, if any, on such Security shall
have respectively become due and payable shall be repaid to the Company upon
Company Request, or if such moneys are then held by the Company in trust, such
moneys shall be released from such trust; and the Holder of such Security
entitled to receive such payment shall thereafter, as an unsecured general
creditor, look only to the Company for the payment thereof, and all liability of
the Trustee or such Paying Agent with respect to such trust money shall
thereupon cease; provided, however, that the
Trustee or any such Paying Agent, before being required to make any such
repayment, may, at the expense of the Company, either mail to each
Securityholder affected, at the address shown in the register of the Securities
maintained by the Registrar or cause to be published once a week for two
successive weeks, in a newspaper published in the English language, customarily
published each Business Day and of general circulation in the City of
___________, ____________, a notice that such money remains unclaimed and that,
after a date specified therein, which shall not be less than 30 days from the
date of such mailing or publication, any unclaimed balance of such moneys then
remaining will be repaid to the Company.  After payment to the Company or
the release of any money held in trust by the Company, Securityholders entitled
to the money must look only to the Company for payment as general creditors
unless applicable abandoned property law designates another person.

     

    ARTICLE
10

    MISCELLANEOUS

     

    10.1        Trust Indenture Act
Controls.

     

    If any
provision of this Indenture limits, qualifies or conflicts with another
provision which is required to be included in this Indenture by the TIA, the
required provision shall control.  If any provision of this Indenture
modifies or excludes any provision of the TIA which may be so modified or
excluded, the latter provision shall be deemed to apply to this Indenture as so
modified or to be excluded, as the case may be.

     

    
      
         

      

      
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    10.2         Notices.

     

    Any
notice or communication shall be given in writing and delivered in person, sent
by facsimile, delivered by commercial courier service or mailed by first-class
mail, postage prepaid, addressed as follows:

      

    If to the
Company:

     

    Bolt
Technology Corporation

    Four Duke
Place

    Norwalk,
Connecticut 06854

    Attention: 
Chief Financial Officer

     

    Copy
to:

     

    Levett
Rockwood P.C.

    33
Riverside Avenue

    Westport,
Connecticut 06880

    Attention: 
Barbara A. Young, Esq.

     

    If to the
Trustee:

     

     

     

    
 

    The
Company or the Trustee by written notice to the other may designate additional
or different addresses for subsequent notices or communications.  Any
notice or communication to the Company or the Trustee shall be deemed to have
been given or made as of the date so delivered if personally delivered; when
answered back, if telexed; when receipt is acknowledged, if telecopied; and five
(5) calendar days after mailing if sent by registered or certified mail,
postage prepaid (except that a notice of change of address shall not be deemed
to have been given until actually received by the addressee).

     

    Any
notice or communication mailed to a Securityholder shall be mailed to him by
first-class mail, postage prepaid, at his address shown on the register kept by
the Registrar. Failure to mail a notice or communication to a
Securityholder or any defect in it shall not affect its sufficiency with respect
to other Securityholders.  If a notice or communication to a Securityholder
is mailed in the manner provided above, it shall be deemed duly given five
(5) calendar days after mailing, whether or not the addressee receives
it.

     

    In case
by reason of the suspension of regular mail service, or by reason of any other
cause, it shall be impossible to mail any notice as required by this Indenture,
then such method of notification as shall be made with the approval of the
Trustee shall constitute a sufficient mailing of such notice.

      

      
        
           

        

        
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    In the
case of Global Securities, notices or communications to be given to
Securityholders shall be given to the Depositary, in accordance with its
applicable policies as in effect from time to time.

     

    10.3         Communications by Holders with Other
Holders.

     

    Securityholders
of any Series may communicate pursuant to TIA Section 312(b) with
other Securityholders of that Series or any other Series with respect
to their rights under this Indenture or the Securities of that Series or
any other Series.  The Company, the Trustee, the Registrar and anyone else
shall have the protection of TIA Section 312(c).

     

    10.4         Certificate and Opinion as to
Conditions Precedent.

     

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

     

    (1)           an
Officers’ Certificate (which shall include the statements set forth in
Section 10.5 below) stating that, in the opinion of the signers, all
conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with; and

     

    (2)           an
Opinion of Counsel (which shall include the statements set forth in
Section 10.5 below) stating that, in the opinion of such counsel, all such
conditions precedent have been complied with.

     

    10.5         Statement Required in Certificate and
Opinion.

     

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

     

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

     

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

     

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

     

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

    
      
         

      

      
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    10.6         Rules by Trustee and
Agents.

     

    The
Trustee may make reasonable rules for action by or at meetings of
Securityholders.  The Registrar and Paying Agent may make reasonable
rules for their functions.

     

    10.7         Business Days; Legal
Holidays.

     

    A “Business Day” is a day that
is not a Legal Holiday.  A “Legal Holiday” is a Saturday,
a Sunday, a federally recognized holiday or a day on which banking institutions
are not required to be open in the State of ____________.

     

    If a
payment date is a Legal Holiday at a place of payment, payment may be made at
that place on the next succeeding day that is not a Legal Holiday, and no
interest shall accrue for the intervening period.

     

    10.8         Governing Law.

     

    THIS
INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND
PERFORMED WITHIN THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS
OF LAW THAT WOULD APPLY THE LAW OF ANY OTHER JURISDICTION.  EACH OF THE
PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE
OF NEW YORK IN ANY
ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE
SECURITIES.

     

    10.9         No Adverse Interpretation of Other
Agreements.

     

    This
Indenture may not be used to interpret another indenture, loan, security or debt
agreement of the Company or any Subsidiary thereof.  No such indenture,
loan, security or debt agreement may be used to interpret this
Indenture.

     

    10.10       No Recourse Against
Others.

     

    A
director, officer, employee, stockholder or incorporator, as such, of the
Company shall not have any liability for any obligations of the Company under
the Securities or the Indenture or for any claim based on, in respect of or by
reason of such obligations or their creations.  Each Securityholder by
accepting a Security waives and releases all such liability.  Such waiver
and release are part of the consideration for the issuance of the
Securities.

    
      
         

      

      
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    10.11      Successors and
Assigns.

     

    All
agreements of the Company in this Indenture and the Securities shall bind its
successors and assigns, whether so expressed or not.  All agreements of the
Trustee, any additional trustee and any Paying Agents in this Indenture shall
bind their respective successors and assigns.

      

    10.12      Multiple
Counterparts.

     

    The
parties may sign multiple counterparts of this Indenture.  Each signed
counterpart shall be deemed an original, but all of them together represent one
and the same agreement.

     

    10.13      Table of Contents, Headings,
Etc.

     

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

     

    10.14      Separabilty.

     

    Each
provision of this Indenture shall be considered separable, and if for any reason
any provision which is not essential to the effectuation of the basic purpose of
this Indenture or the Securities shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

     

    10.15      Securities in a Foreign Currency or
in ECU.

     

    Unless
otherwise specified in a Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate delivered pursuant to Section 2.2 of this Indenture
with respect to a particular Series of Securities, whenever for purposes of
this Indenture any action may be taken by the Holders of a specified percentage
in aggregate principal amount of Securities of all Series or all
Series affected by a particular action at the time outstanding and, at such
time, there are outstanding Securities of any Series which are denominated
in a coin or currency other than Dollars (including ECU), then the principal
amount of Securities of such Series which shall be deemed to be outstanding
for the purpose of taking such action shall be that amount of Dollars that could
be obtained for such amount at the Market Exchange Rate at such time.  For
purposes of this Section 10.15, “Market Exchange Rate” shall
mean the noon Dollar buying rate in New York City for cable transfers of that
currency as published by the Federal Reserve Bank of New York; provided, however, in the case
of ECUs, Market Exchange Rate shall mean the rate of exchange determined by the
Commission of the European Union (or any successor thereto) as published in the
Official Journal of the European Union (such publication or any successor
publication, the “Journal”).  If such
Market Exchange Rate is not available for any reason with respect to such
currency, the Trustee shall use, in its sole discretion and without liability on
its part, such quotation of the Federal Reserve Bank of New York or, in the case
of ECUs, the rate of exchange as published in the Journal, as of the most recent
available date, or quotations or, in the case of ECUs, rates of exchange from
one or more major banks in The City of New York or in the country of issue of
the currency in question or, in the case of ECUs, in Luxembourg or such other
quotations or, in the case of ECUs, rates of exchange as the Trustee, upon
consultation with the Company, shall deem appropriate.  The provisions of
this paragraph shall apply in determining the equivalent principal amount in
respect of Securities of a Series denominated in currency other than
Dollars in connection with any action taken by Holders of Securities pursuant to
the terms of this Indenture.

    
      
         

      

      
        45

        
          

        

      

      
         

      

    

    All
decisions and determinations of the Trustee regarding the Market Exchange Rate
or any alternative determination provided for in the preceding paragraph shall
be in its sole discretion and shall, in the absence of manifest error, be
conclusive to the extent permitted by law for all purposes and irrevocably
binding upon the Company and all Holders.

     

    10.16      Judgment
Currency.

     

    The
Company agrees, to the fullest extent that it may effectively do so under
applicable law, that (a) if for the purpose of obtaining judgment in any
court it is necessary to convert the sum due in respect of the principal of (and
premium, if any) and interest, if any, or other amount on the Securities of any
Series (the “Required
Currency”) into a currency in which a judgment will be rendered (the
“Judgment Currency”),
the rate of exchange used shall be the rate at which in accordance with normal
banking procedures the Trustee could purchase in The City of New York the
Required Currency with the Judgment Currency on the day on which final
unappealable judgment is entered, unless such day is not a New York Banking Day,
then, the rate of exchange used shall be the rate at which in accordance with
normal banking procedures the Trustee could purchase in The City of New York the
Required Currency with the Judgment Currency on the New York Banking Day
preceding the day on which final unappealable judgment is entered and
(b) its obligations under this Indenture to make payments in the Required
Currency (i) shall not be discharged or satisfied by any tender, any
recovery pursuant to any judgment (whether or not entered in accordance with
subsection (a)), in any currency other than the Required Currency, except to the
extent that such tender or recovery shall result in the actual receipt, by the
payee, of the full amount of the Required Currency expressed to be payable in
respect of such payments, (ii) shall be enforceable as an alternative or
additional cause of action for the purpose of recovering in the Required
Currency the amount, if any, by which such actual receipt shall fall short of
the full amount of the Required Currency so expressed to be payable, and
(iii) shall not be affected by judgment being obtained for any other sum
due under this Indenture.  For purposes of the foregoing, “New York Banking Day” means
any day except a Saturday, Sunday or a legal holiday in The City of New York on
which banking institutions are authorized or required by law, regulation or
executive order to close. 

     

    [Remainder
of Page Intentionally Left Blank]

    
      
         

      

      
        46

        
          

        

      

      
         

      

    

     

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

     

    
      	 
      	
              BOLT
      TECHNOLOGY CORPORATION

            
	 
      	 
      
	 
      	
              By:

            	 
      	 
      
	 
      	
              Name:

            
	 
      	
              Title:

            
	 
      	 
      
	 
      	
              [Name
      of Trustee]

            
	 
      	 
      
	 
      	
              By:

            	 
      	 
      
	 
      	
              Name:

            
	 
      	
              Title:

            

    

    
      
         

      

      
        47

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