Document:

exh4_2.htm

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

                

                    Exhibit
              4.2      
    

        

      

      

       

      

       

      

       

      

       

      

       

      

       

      GULF
        SOUTH PIPELINE COMPANY, LP

       

      $225,000,000

       

      5.75%
        NOTES DUE 2012

       

      INDENTURE

       

      Dated
        as of August 17, 2007

       

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

       

      as
        Trustee

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      This
        INDENTURE, dated as of August 17, 2007, is entered into between Gulf South
        Pipeline Company, LP, a Delaware limited partnership (the “Issuer”) and The Bank
        Of New York Trust Company, N.A., a national banking association, as Trustee
        (the
“Trustee”).

       

      The
        Issuer and the Trustee agree as follows for the benefit of each other and
        for
        the equal and ratable benefit of the Holders of the 5.75% Notes due 2012
        (the
“Notes”):

       

      ARTICLE
        ONE

       

      DEFINITIONS
        AND INCORPORATION BY REFERENCE

       

      
        	
                Section
                  1.1  

              	
                Definitions.

              

      

       

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

       

      “144A
        Global Note” means a Global Note in the form of Exhibit A-1 hereto bearing
        the Global Note Legend and the Private Placement Legend and deposited with
        and
        registered in the name of the Depositary or its nominee that shall be issued
        in
        a denomination equal to the Outstanding principal amount of the Notes sold
        for
        initial resale in reliance on Rule 144A.

       

      “Additional
        Notes” means any Notes (other than Initial Notes and Notes issued under
        Sections 2.6, 2.7 and 2.10 hereof) issued under this Indenture in accordance
        with Sections 2.2, 2.15 and 4.9 hereof, as part of the same series as the
        Initial Notes.

       

       “Affiliate”
        of any specified Person means any other Person directly or indirectly
        controlling, controlled by or under direct or indirect common control with
        the
        specified Person. For 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, shall mean the possession,
        directly or indirectly, of the power to direct or cause the direction of
        the
        management or policies of the Person, whether through the ownership of voting
        securities, by agreement or otherwise.

       

      “Agent”
        means any Registrar, co-registrar, Paying Agent or additional paying
        agent.

       

      “Applicable
        Procedures” means, with respect to any transfer, redemption or exchange of
        or for beneficial interests in any Global Note, the rules and procedures
        of the
        Depositary, Euroclear and Clearstream that apply to such transfer, redemption
        or
        exchange.

       

      “Attributable
        Debt” means, with respect to any Sale and Lease-Back Transaction as of any
        particular time, the present value discounted at a rate of interest implicit
        in
        the terms of the lease of the obligations of the lessee under such lease
        for net
        rental payments during the remaining term of the lease (including any period
        for
        which such lease has been extended or may, at the option of the lessee, be
        extended).

       

      “Authenticating
        Agent” shall have the meaning set forth in Section 5.12.

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      “Bankruptcy
        Law” means Title 11, U.S. Code or any similar federal or state law for the
        relief of debtors, or the law of any other jurisdiction relating to bankruptcy,
        insolvency, winding up, liquidation, reorganization or relief of
        debtors.

       

      “Board
        of Directors” means either the Board of Directors of the general partner of
        the Issuer or any committee of such Board duly authorized to act on its
        behalf.

       

      “Board
        Resolution” means a copy of one or more resolutions, certified by the
        secretary or an assistant secretary of the general partner of the Issuer
        to have
        been duly adopted or consented to by the Board of Directors and to be in
        full
        force and effect, and delivered to the Trustee.

       

      “Business
        Day” means, with respect to any Note, a day that in the city (or in any of
        the cities, if more than one) in which amounts are payable, as specified
        in the
        form of such Note, is not a day on which banking institutions are authorized
        or
        required by law or regulation to close.

       

      “Capital
        Lease Obligation” means, at the time any determination of the obligation is
        to be made, the amount of the liability in respect of a capital lease that
        would
        at the time be so required to be capitalized on the balance sheet in accordance
        with GAAP.

       

      “Clearstream”
        means Clearstream Banking S.A. and any successor thereto.

       

      “Code”
        means the U.S. Internal Revenue Code of 1986, as amended.

       

      “Commission”
        means the Securities and Exchange Commission, as from time to time constituted,
        created under the Securities Exchange Act of 1934, as amended, or if at any
        time
        after the execution and delivery of this Indenture such Commission is not
        existing and performing the duties now assigned to it under the Trust Indenture
        Act, then the body performing such duties on such date.

       

      “Comparable
        Treasury Issue” means the United States Treasury security selected by an
        Independent Investment Banker as having a maturity comparable to the remaining
        term of the Notes to be redeemed that would be utilized, at the time of
        selection and in accordance with customary financial practice, in pricing
        new
        issues of corporate debt securities of comparable maturity to the remaining
        term
        of such Notes.

       

      “Comparable
        Treasury Price” means, with respect to any redemption date, (i) the average
        of the bid and asked prices for the Comparable Treasury Issue (expressed
        in each
        case as a percentage of its principal amount) on the third business day
        preceding such redemption date, as set forth in the daily statistical release
        (or any successor release) published by the Federal Reserve Bank of New York
        and
        designated “Composite 3:30 p.m. Quotations for U.S. Government Securities” or
        (ii) if such release (or any successor release) is not published or does
        not
        contain such prices on such business day, (A) the average of the Reference
        Treasury Dealer Quotations for such redemption date, after excluding the
        highest
        and lowest such Reference Treasury Dealer Quotations, or (B) if the Issuer
        obtains fewer than four such Reference Treasury Dealer Quotations, the average
        of all such Quotations.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      “Consolidated
        Funded Indebtedness” means the aggregate of all Outstanding Funded
        Indebtedness of the Issuer and its consolidated Subsidiaries, determined
        on a
        consolidated basis in accordance with generally accepted accounting
        principles.

       

      “Consolidated
        Net Tangible Assets” means the total assets appearing on a consolidated
        balance sheet of a Person and its consolidated Subsidiaries less, in general:
        (1) intangible assets; (2) current and accrued liabilities (other than
        Consolidated Funded Indebtedness and capitalized rentals or leases), deferred
        credits, deferred gains and deferred income; and (3) reserves.

       

      “Corporate
        Trust Office of the Trustee” means the principal office of the Trustee at
        which at any time its corporate trust business shall be administered, which
        office at the dated hereof is located at 2 N. LaSalle Street, Suite 1020,
        Chicago, Illinois 60602 Attention: Corporate Trust Administration, or such
        other
        address as the Trustee may designate from time to time by notice to the Holders
        and the Issuer, or the principal corporate trust office of any successor
        Trustee
        (or such other address as such successor Trustee may designate from time
        to time
        by notice to the Holders and the Issuer).

       

      “Custodian”
        means, with respect to the Notes issuable or issued in whole or in part in
        global form, the Person specified in Section 2.3(c) hereof as Custodian with
        respect to the Notes, and any and all successors thereto appointed as custodian
        hereunder and having become such pursuant to the applicable provisions of
        this
        Indenture.

       

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

       

      “Definitive
        Note” means a certificated Note registered in the name of the Holder
        thereof and issued in accordance with Section 2.6 or 2.10 hereof, in
        substantially the form of Exhibit A hereto except that such Note shall not
        bear
        the Global Note Legend and shall not have the “Schedule of Exchanges of
        Interests in the Global Note” attached thereto.

       

      “Depositary”
        means, with respect to the Notes issuable or issued in whole or in part in
        global form, the Person specified in Section 23(b) hereof as the Depositary
        with
        respect to the Notes, and any and all successors thereto appointed as depositary
        hereunder and having become such pursuant to the applicable provisions of
        this
        Indenture.

       

      “Distribution
        Compliance Period” means the 40-day distribution compliance period as
        defined in Regulation S.

       

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

       

      “Euroclear”
        means Euroclear Bank, S.A./N.V., as operator of the Euroclear systems, and
        any
        successors thereto.

       

      “ECU”
        means the European Currency Unit as defined and revised from time to time
        by the
        Council of European Communities.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      “Event
        of Default” means any event or condition specified as such in Section
        4.1.

       

      “Exchange
        Act” means the U.S. Securities Exchange Act of 1934, as amended, and the
        rules and regulations thereunder, including any successor legislation and
        rules
        and regulations.

       

      “Funded
        Indebtedness” means any Indebtedness that matures more than one year after
        the date as of which Funded Indebtedness is being determined less any such
        Indebtedness as will be retired through or by means of any deposit or payment
        required to be made within one year from such date under any prepayment
        provision, sinking fund, purchase fund, or otherwise.

       

      “GAAP”
        means generally accepted accounting principles set forth in the opinions
        and
        pronouncements of the Accounting Principles Board of the American Institute
        of
        Certified Public Accountants and statements and pronouncements of the Financial
        Accounting Standards Board or in other statements by another entity as have
        been
        approved by a significant segment of the accounting profession, as in effect
        from time to time; provided, however, that any change in GAAP that would
        cause
        the Issuer to record an existing item as a liability upon its balance sheet,
        which item was not previously required by GAAP to be so recorded, shall not
        constitute an incurrence of Indebtedness for purposes hereof.

       

      “Global
        Note Legend” means the legend set forth in Section 2.6(g)(ii) hereof, which
        is required to be placed on all Global Notes issued under this
        Indenture.

       

      “Global
        Notes” means the global Notes in the form of Exhibit A hereto issued in
        accordance with Article 2 hereof.

       

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

       

      “Holder”
        means, in general, a Person in whose name the Notes are registered, or, if
        not
        registered, the bearer thereof.

       

      “Indebtedness”
        means indebtedness which is for money borrowed from others.

       

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

       

      “Independent
        Investment Banker” means one of the Reference Treasury Dealers appointed by
        the Issuer.

       

      “Indirect
        Participant” means a Person who holds a beneficial interest in a Global
        Note through a Participant.

       

      “Initial
        Notes” means $225.0 million aggregate principal amount of Notes issued
        under this Indenture on the date hereof.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      “Interest
        Payment Dates” shall have the meaning set forth in paragraph 1 of each
        Note.

       

      “Issue
        Date” means August 17, 2007.

       

      “Issue
        Order” means a written statement, request or order on behalf of the Issuer
        signed in its name by the Chairman of the Board, the President or Vice
        President, a Secretary or a Treasurer of the general partner of the
        Issuer.

       

      “Obligations”
        means any principal, interest, penalties, fees, indemnifications,
        reimbursements, damages and other liabilities payable under the documentation
        governing any Indebtedness.

       

      “Officer”
        means the Chief Executive Officer, the President, the Chief Financial Officer,
        the Treasurer, any Assistant Treasurer, the Secretary or any Vice President
        of
        the general partner of the Issuer.

       

      “Officers’
        Certificate” means a certificate signed by the Chairman of the Board, the
        President or a Vice President, and by the Chief Financial Officer, Controller,
        Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary
        of
        the general partner of the Issuer and delivered to the Trustee. Each such
        certificate shall comply with § 314 of the Trust Indenture Act of 1939 and
        include the statements provided for in Section 10.5, if applicable.

       

      “Opinion
        of Counsel” means an opinion in writing signed by legal counsel who may be
        an employee of or counsel to the Issuer. Each such opinion shall comply with
§
314 of the Trust Indenture Act of 1939 and include the statements provided
        for
        in Section 10.5, if applicable.

       

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

       

      (a)  Notes
        theretofore cancelled by the Trustee or delivered to the Trustee for
        cancellation;

       

      (b)  Notes,
        or
        portions thereof, for the payment or redemption of which moneys or U.S.
        Government Obligations (as provided for in Section 9.1) in the necessary
        amount
        shall have been deposited in trust with the Trustee or with any paying agent
        (other than the Issuer) or shall have been set aside, segregated and held
        in
        trust by the Issuer for the Holders of such Notes (if the Issuer shall act
        as
        its own paying agent), provided that if such Notes, or portions thereof,
        are to
        be redeemed prior to the maturity thereof, notice of such redemption shall
        have
        been given as herein provided, or provision satisfactory to the Trustee shall
        have been made for giving such notice; and

       

      (c)  Notes
        which shall have been paid or in substitution for which other Notes shall
        have
        been authenticated and delivered pursuant to the terms of Section 2.7 (except
        with respect to any such Note as to which proof satisfactory to the Trustee
        is
        presented that such Note is held by a Person in whose hands such Note is
        a
        legal, valid and binding obligation of the Issuer).

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      “Participant”
        means, with respect to the Depositary, Euroclear or Clearstream, a Person
        who
        has an account with the Depositary, Euroclear or Clearstream, respectively,
        and,
        with respect to DTC, shall include Euroclear and Clearstream.

       

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

       

      “Predecessor
        Note” of any particular Note means every previous Note evidencing all or a
        portion of the same Indebtedness as that evidenced by such particular Note;
        and
        any Note authenticated and delivered under Section 2.07 in lieu of a lost,
        destroyed or stolen Note shall be deemed to evidence the same Indebtedness
        as
        the lost, destroyed or stolen Note.

       

      “Principal
        Property” means any natural gas pipeline, gathering or storage property or
        facility, or natural gas processing plant located in the United States, except
        any such property that in the opinion of the Board of Directors is not of
        material importance to the total business conducted by the Issuer and its
        consolidated Subsidiaries; provided, however, that “Principal Property” shall
        not include production and proceeds from production from gas processing plants
        or oil or natural gas or petroleum products in any pipeline or storage
        field.

       

      “Private
        Placement Legend” means the legend set forth in Section 2.6(g)(i) hereof to
        be placed on all Notes issued under this Indenture except as otherwise permitted
        by the provisions of this Indenture.

       

      “QIB”
        means a “qualified institutional buyer” as deemed in Rule 144A.

       

      “Reference
        Treasury Dealer” means each of Citigroup Global Markets Inc. and Morgan
        Stanley & Co. Incorporated and their respective successors and, at the
        option of the Issuer, additional Primary Treasury Dealers; provided, however,
        that if any of the foregoing shall cease to be a primary U.S. Government
        securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer
        shall substitute therefor another Primary Treasury Dealer.

       

      “Reference
        Treasury Dealer Quotations” means, with respect to each Reference Treasury
        Dealer and any redemption date, the average, as determined by the Issuer,
        of the
        bid and ask prices for the Comparable Treasury Issue (expressed in each case
        as
        a percentage of its principal amount) quoted in writing to the Issuer by
        such
        Reference Treasury Dealer at 5:00 p.m. on the third business day preceding
        such
        redemption date.

       

      “Regular
        Record Date” for the interest payable on any Interest Payment Date means
        the applicable date specified as a “Record Date” on the face of the
        Note.

       

      “Regulation
        S” means Regulation S promulgated under the Securities Act.

       

      “Regulation
        S Global Note” means a Regulation S Temporary Global Note or Regulation S
        Permanent Global Note, as appropriate.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      “Regulation
        S Permanent Global Note” means a Global Note in the form of Exhibit A-1
        hereto bearing the Global Note Legend and the Private Placement Legend and
        deposited with and registered in the name of the Depositary or its nominee
        that
        shall be issued in a denomination equal to the Outstanding principal amount
        of
        the Regulation S Temporary Global Note upon expiration of the Distribution
        Compliance Period.

       

      “Regulation
        S Temporary Global
        Note” means a temporary Global Note in the form of Exhibit A-2 hereto
        deposited with or on behalf of and registered in the name of the Depositary
        or
        its nominee, issued in a denomination equal to the outstanding principal
        amount
        of the Notes initially sold in reliance on Rule 903 of Regulation
        S.

       

      “Reporting
        Failure” means our
        failure to file with the Trustee (a) within 90 days after the end of each
        fiscal
        year, audited balance sheets as of the end of the two most recent fiscal
        years
        and audited statements of income and cash flows for each of the three fiscal
        years preceding the date of the most recent audited balance sheet or (b)
        within
        60 days of the end of each of the first three fiscal quarters, unaudited
        interim
        balance sheets as of the end of the most recent fiscal quarter and unaudited
        interim statements of income and cash flows for the period between the latest
        audited balance sheet and the most recent interim balance sheet provided,
        and
        for the corresponding period of the preceding fiscal year.

       

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

       

      “Restricted
        Definitive Note” means one or more Definitive Notes bearing the Private
        Placement Legend.

       

      “Restricted
        Global Notes” means 144A Global Notes and Regulation S Global
        Notes.

       

      “Rule
        144” means Rule 144 promulgated under the Securities Act.

       

      “Rule
        144A” means Rule 144A promulgated under the Securities Act.

       

      “Rule
        903” means Rule 903 promulgated under the Securities Act.

       

      “Rule
        904” means Rule 904 promulgated under the Securities Act.

       

      “Securities
        Act” means the U.S. Securities Act of 1933, as amended, and the rules and
        regulations thereunder, including any successor legislation and rules and
        regulations.

       

      “Significant
        Subsidiary” means any Subsidiary that would be a “significant subsidiary”
of the Issuer within the meaning of Rule 1-02 under Regulation S-X promulgated
        by the Commission.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

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

       

      “Subsidiary”
        means, in respect of any Person, any corporation, company (including any
        limited
        liability company), association, partnership, joint venture or other business
        entity of which at least a majority of the outstanding equity interests having
        ordinary voting power is at the time owned or controlled, directly or
        indirectly, by: (a) such Person; (b) such Person and one or more Subsidiaries
        of
        such Person, or (c) one or more Subsidiaries of such Person.

       

      “Tax”
        means any tax, duty, levy, impost, assessment or other governmental charge
        (including penalties, interest and any other liabilities related
        thereto).

       

      “Trust
        Indenture Act of 1939” means the U.S. Trust Indenture Act of 1939, as
        amended, and the rules and regulations thereunder, including any successor
        legislation and rules and regulations.

       

      “Treasury
        Rate” means, with respect to any redemption date, the rate per annum equal
        to the semiannual equivalent Yield to Maturity of the Comparable Treasury
        Issue,
        assuming a price for the Comparable Treasury Issue (expressed as a percentage
        of
        its principal amount) equal to the Comparable Treasury Price for such redemption
        date.

       

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

       

      “Unrestricted
        Definitive Notes” means one or more Definitive Notes that do not and are
        not required to bear the Private Placement Legend.

       

      “Unrestricted
        Global Notes” means one or more Global Notes that do not and are not
        required to bear the Private Placement Legend and are deposited with and
        registered in the name of the Depositary or its nominee.

       

      “U.S.
        Government Obligations” shall have the meaning set forth in Section
        9.1(A).

       

      “Yield
        to Maturity” means the yield to maturity on the Notes, calculated at the
        time of issuance of the Notes, and calculated in accordance with accepted
        financial practice.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      
        	
                Section
                  1.2  

              	
                Other
                  Definitions.

              

      

       

      
        	
                Term

              	
                Defined
                  in Section

              
	 	 
	
                “Authentication
                  Order”                                                                                  

              	
                2.2(d)

              
	
                “Issuer”                                                                                  

              	
                Preamble

              
	
                “covenant
                  defeasance”                                                                                  

              	
                9.1

              
	
                “DTC”                                                                                  

              	
                2.3(b)

              
	
                “Event
                  of
                  Default”                                                                                  

              	
                4.1

              
	
                “lien”                                                                                  

              	
                3.4

              
	
                “mortgage”                                                                                  

              	
                3.4

              
	
                “Notes”                                                                                  

              	
                Preamble

              
	
                “Paying
                  Agent”                                                                                  

              	
                2.3(a)

              
	
                “Registrar”                                                                                  

              	
                2.3(a)

              
	
                “Security
                  Register”                                                                                  

              	
                11.3

              

      

      

       

      
        	
                Section
                  1.3  

              	
                Incorporation
                  by Reference of Trust Indenture
                  Act.

              

      

       

      (a)  Whenever
        this Indenture refers to a provision of the Trust Indenture Act of 1939,
        the
        provision is incorporated by reference in and made a part of this
        Indenture.

       

      (b)  The
        following Trust Indenture Act of 1939 terms used in this Indenture have the
        following meanings:

       

      “indenture
        securities” means the Notes;

       

      “indenture
        security holder” means a Holder of a Note;

       

      “indenture
        to be qualified” means this Indenture;

       

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

       

      “obligor”
        on the Notes means the Issuer and any successor obligor upon the
        Notes.

       

      (c)  All
        other
        terms used in this Indenture that are defined by the Trust Indenture Act
        of
        1939, defined by Trust Indenture Act of 1939 reference to another statute
        or
        defined by Commission rule under the Trust Indenture Act of 1939 and not
        otherwise defined herein have the meanings so assigned to them either in
        the
        Trust Indenture Act of 1939, by another statute or Commission rule, as
        applicable.

       

      
        	
                Section
                  1.4  

              	
                Rules
                  of
                  Construction.

              

      

       

      (a)  Unless
        the context otherwise requires:

       

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

       

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

       

      (iii)  “or”
is
        not exclusive;

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

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

       

      (v)  all
        references in this instrument to “Articles,” “Sections” and other subdivisions
        are to the designated Articles, Sections and subdivisions of this instrument
        as
        originally executed;

       

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

       

      (vii)  “including”
        means “including without limitation;”

       

      (viii)  provisions
        apply to successive events and transactions; and

       

      (ix)  references
        to sections of or rules under the Securities Act, the Exchange Act or the
        Trust
        Indenture Act of 1939 shall be deemed to include substitute, replacement
        or
        successor sections or rules adopted by the Commission from time to time
        thereunder.

       

      ARTICLE
        TWO

       

      NOTES

       

      
        	
                Section
                  2.1  

              	
                Form
                  and Dating.

              

      

       

      (a)  General.
        The Notes and the Trustee’s certificate of authentication shall be substantially
        in the form included in Exhibit A hereto, which is hereby incorporated in
        and
        expressly made part of this Indenture. The Notes may have notations, legends
        or
        endorsements required by law, exchange rule or usage in addition to those
        set
        forth on Exhibit A. Each Note shall be dated the date of its authentication.
        The
        Notes shall be in denominations of $2,000 and integral multiples of $1,000
        in
        excess thereof. The terms and provisions contained in the Notes shall constitute
        a part of this Indenture, and the Issuer and the Trustee, by their execution
        and
        delivery of this Indenture, expressly agree to such terms and provisions
        and to
        be bound thereby. To the extent any provision of any Note conflicts with
        the
        express provisions of this Indenture, the provisions of this Indenture shall
        govern and be controlling.

       

      (b)  Global
        Notes. Notes shall be issued initially in global form and shall be
        substantially in the form of Exhibits A-1 or A-2 attached hereto (including
        the
        Global Note Legend thereon and the “Schedule of Exchanges of Interests in the
        Global Note” attached thereto). Notes issued in definitive form shall be
        substantially in the form of Exhibit A attached hereto (but without the Global
        Note Legend thereon and without the “Schedule of Exchanges of Interests in the
        Global Note” attached thereto). Each Global Note shall represent such aggregate
        principal amount of the Outstanding Notes as shall be specified therein and
        each
        shall provide that it shall represent the aggregate principal amount of
        Outstanding Notes from time to time endorsed thereon and that the aggregate
        principal amount of Outstanding Notes represented thereby may from time to
        time
        be reduced or increased, as appropriate, to reflect exchanges and redemptions
        and transfers of interests therein. Any endorsement of a Global Note to reflect
        the amount of any increase or decrease in the aggregate principal amount
        of
        Outstanding Notes represented thereby shall be made by the Trustee or the
        Custodian, at the direction of the Trustee, in accordance with instructions
        given by the Holder thereof as required by Section 2.6 hereof.

       

      
        
          
          

        

        
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      (c)  Temporary
        Global Notes.  Notes offered and sold in reliance on Regulation S
        will be issued initially in the form of the Regulation S Temporary Global
        Note,
        which will be deposited on behalf of the purchasers of the Notes represented
        thereby with the Trustee, at its New York office, as custodian for the
        Depositary, and registered in the name of the Depositary or the nominee of
        the
        Depositary for the accounts of designated agents holding on behalf of Euroclear
        or Clearstream, duly executed by the Issuer and authenticated by the Trustee
        as
        hereinafter provided.  The Distribution Compliance Period will be
        terminated upon the receipt by the Trustee of:

       

      (1)  a
        written
        certificate from the Depositary, together with copies of certificates from
        Euroclear and Clearstream certifying that they have received certification
        of
        non-United States beneficial ownership of 100% of the aggregate principal
        amount
        of the Regulation S Temporary Global Note (except to the extent of any
        beneficial owners thereof who acquired an interest therein during the
        Distribution Compliance Period pursuant to another exemption from registration
        under the Securities Act and who will take delivery of a beneficial ownership
        interest in a 144A Global Note bearing a Private Placement Legend, all as
        contemplated by Section 2.6(b) hereof); and

       

      (2)  an
        Officers’ Certificate.

       

      Following
        the termination of the Distribution Compliance Period, beneficial interests
        in
        the Regulation S Temporary Global Note will be exchanged for beneficial
        interests in the Regulation S Permanent Global Note pursuant to the Applicable
        Procedures.  Simultaneously with the authentication of the Regulation
        S Permanent Global Note, the Trustee will cancel the Regulation S Temporary
        Global Note.  The aggregate principal amount of the Regulation S
        Temporary Global Note and the Regulation S Permanent Global Note may from
        time
        to time be increased or decreased by adjustments made on the records of the
        Trustee and the Depositary or its nominee, as the case may be, in connection
        with transfers of interest as hereinafter provided.

       

      (d)  Book-Entry
        Provisions. This Section 2.1(d) shall apply only to Global Notes deposited
        with the Trustee, as custodian for the Depositary. Notwithstanding the
        foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent
        of
        the Issuer or the Trustee from giving effect to any written certification,
        proxy
        or other authorization furnished by the Depositary or impair, as between
        the
        Depositary and its Participants or Indirect Participants, the Applicable
        Procedures or the operation of customary practices of the Depositary governing
        the exercise of the rights of a holder of a beneficial interest in any Global
        Note.

       

      (e)  Euroclear
        and Clearstream Procedures Applicable. The provisions of the “Operating
        Procedures of the Euroclear System” and “Terms and Conditions Governing Use of
        Euroclear” and the “General Terms and Conditions of Clearstream” and “Customer
        Handbook” of Clearstream shall be applicable to transfers of beneficial
        interests in Global Notes that are held by Participants through Euroclear
        or
        Clearstream.

       

      
        
          
          

        

        
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                Section
                  2.2  

              	
                Execution
                  and Authentication.

              

      

       

      (a)  One
        Officer shall execute the Notes on behalf of the Issuer by manual or facsimile
        signature.

       

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

       

      (c)  A
        Note
        shall not be valid until authenticated by the manual signature of the Trustee.
        The signature shall be conclusive evidence that the Note has been authenticated
        under this Indenture. The form of Trustee’s certificate of authentication to be
        borne by the Note shall be substantially as set forth in Exhibit A
        hereto.

       

      (d)  The
        Trustee shall, upon a written order of the Issuer signed by an Officer (an
        “Authentication Order”), authenticate Notes for original issue.

       

      
        	
                Section
                  2.3  

              	
                Registrar
                  and Paying Agent.

              

      

       

      (a)  The
        Issuer shall maintain an office or agency where Notes may be presented for
        registration of transfer or for exchange (“Registrar”) and an office or agency
        where Notes may be presented for payment (“Paying Agent”). The Registrar shall
        keep a register of the Notes and of their transfer and exchange. The Issuer
        may
        appoint one or more co-registrars and one or more additional paying agents.
        The
        term “Registrar” includes any co-registrar and the term “Paying Agent” includes
        any additional paying agent. The Issuer may enter into an appropriate agency
        agreement with any Agent not party to this Indenture, which may incorporate
        the
        provisions of the Trust Indenture Act of 1939. Such Agreement shall implement
        the provisions of this Indenture that relate to such Agent. The Issuer may
        change any Paying Agent or Registrar without notice to any Holder. The Issuer
        shall notify the Trustee in writing of the name and address of any Agent
        not a
        party to this Indenture. If the Issuer fails to appoint or maintain another
        entity as Registrar or Paying Agent, the Trustee shall act as such and shall
        be
        entitled to appropriate compensation in accordance with Section 5.6
        hereof.  The Issuer or any of its Subsidiaries may act as Paying Agent
        or Registrar.

       

      (b)  The
        Issuer initially appoints The Depository Trust Company (“DTC”) to act as
        Depositary with respect to the Global Notes.

       

      (c)  The
        Issuer initially appoints the Trustee to act as Registrar and Paying Agent,
        agent for service of notices and demands in connection with the Global Note
        and
        to act as Custodian with respect to the Global Notes, and the Trustee hereby
        agrees so to initially act.

       

      
        	
                Section
                  2.4  

              	
                Paying
                  Agent to Hold Money in
                  Trust.

              

      

       

      The
        Issuer shall require each Paying Agent other than the Trustee to agree in
        writing that the Paying Agent shall hold in trust for the benefit of Holders
        or
        the Trustee all money held by the Paying Agent for the payment of principal,
        premium, if any, or interest on the Notes, and shall notify the Trustee of
        any
        Default by the Issuer in making any such payment. While any such Default
        continues, the Trustee may require a Paying Agent to pay all funds held by
        it
        relating to the Notes to the Trustee. The Issuer at any time may require
        a
        Paying Agent to pay all funds held by it relating to the Notes to the Trustee.
        Upon payment over to the Trustee, the Paying Agent (if other than the Issuer)
        shall have no further liability for such funds. If the Issuer or a Subsidiary
        acts as Paying Agent, it shall segregate and hold in a separate trust fund
        for
        the benefit of the Holders all funds held by it as Paying Agent. Upon any
        Event
        of Default under Sections 4.1(d) and (e) hereof relating to the Issuer, the
        Trustee shall serve as Paying Agent for the Notes.

       

      
        
          
          

        

        
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                Section
                  2.5  

              	
                Holder
                  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 all Holders
        and
        shall otherwise comply with Trust Indenture Act of 1939 §312(a). If the Trustee
        is not the Registrar, the Issuer shall furnish or cause to be furnished to
        the
        Trustee at least three Business Days before each Interest Payment Date and
        at
        such other times as the Trustee may request in writing, a list in such form
        and
        as of such date or such shorter time as the Trustee may allow, as the Trustee
        may reasonably require of the names and addresses of the Holders and the
        Issuer
        shall otherwise comply with Trust Indenture Act of 1939 §312(a).

       

      
        	
                Section
                  2.6  

              	
                Transfer
                  and Exchange.

              

      

       

      (a)  Transfer
        and Exchange of Global Notes. A Global Note may not be transferred as a
        whole except by the Depositary to a nominee of the Depositary, by a nominee
        of
        the Depositary to the Depositary or to another nominee of the Depositary,
        or by
        the Depositary or any such nominee to a successor Depositary or a nominee
        of
        such successor Depositary. The Issuer shall exchange Global Notes for Definitive
        Notes if: (1) the Issuer delivers to the Trustee a notice from the Depositary
        that the Depositary is unwilling or unable to continue to act as Depositary
        for
        the Global Notes or that it has ceased to be a clearing agency registered
        under
        the Exchange Act and, in either case, a successor Depositary is not appointed
        by
        the Issuer within 120 days after the date of such notice from the Depositary;
        (2) the Issuer at its option determines that the Global Notes shall be exchanged
        for Definitive Notes and delivers a written notice to such effect to the
        Trustee; provided that in no event shall the Regulation S Temporary
        Global Note be exchanged by the Issuer for Definitive Notes prior to (x)
        the
        expiration of the Distribution Compliance Period and (y) the receipt by the
        Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B)
        under
        the Securities Act; or (3) a Default or Event of Default shall have occurred
        and
        be continuing. Upon the occurrence of any of the preceding events in clauses
        (1), (2) or (3) above, Definitive Notes shall be issued in denominations
        of
        $2,000 or integral multiples of $1,000 in excess thereof and in such names
        as
        the Depositary shall instruct the Trustee in writing. Global Notes also may
        be
        exchanged or replaced, in whole or in part, as provided in Sections 2.7 and
        2.10
        hereof. Except as provided above, every Note authenticated and delivered
        in
        exchange for, or in lieu of, a Global Note or any portion thereof, pursuant
        to
        this Section 2.6 or Section 2.7 or 2.10 hereof, shall be authenticated and
        delivered in the form of, and shall be, a Global Note. A Global Note may
        not be
        exchanged for another Note other than as provided in this Section 2.6(a),
        and
        beneficial interests in a Global Note may not be transferred and exchanged
        other
        than as provided in Section 2.6(b), (c) or (f) hereof.

       

      
        
          
          

        

        
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      (b)  Transfer
        and Exchange of Beneficial Interests in the Global Notes. The transfer and
        exchange of beneficial interests in the Global Notes shall be effected through
        the Depositary in accordance with the provisions of this Indenture and the
        Applicable Procedures. Beneficial interests in Restricted Global Notes shall
        be
        subject to restrictions on transfer comparable to those set forth herein
        to the
        extent required by the Securities Act. Transfers of beneficial interests
        in
        Global Notes also shall require compliance with either clause (i) or (ii)
        below,
        as applicable, as well as one or more of the other following clauses, as
        applicable:

       

      (i)  Transfer
        of Beneficial Interests in the Same Global Note. Beneficial interests in any
        Restricted Global Note may be transferred to Persons who take delivery thereof
        in the form of a beneficial interest in the same Restricted Global Note in
        accordance with the transfer restrictions set forth in the Private Placement
        Legend and any Applicable Procedures; provided, however, that prior to the
        expiration of the Distribution Compliance Period, transfers of beneficial
        interests in the Regulation S Temporary Global Note may not be made to or
        for
        the account or benefit of a “U.S. Person” (as defined in Rule 902(k) of
        Regulation S) (other than a “distributor” (as defined in Rule 902(d) of
        Regulation S)). Beneficial interests in any Unrestricted Global Note may
        be
        transferred to Persons who take delivery thereof in the form of a beneficial
        interest in an Unrestricted Global Note. Except as may be required by any
        Applicable Procedures, no written orders or instructions shall be required
        to be
        delivered to the Registrar to effect the transfers described in this Section
        2.6(b)(i).

       

      (ii)  All
        Other Transfers and Exchanges of Beneficial Interests in Global Notes. In
        connection with all transfers and exchanges of beneficial interests that
        are not
        subject to Section 2.6(b)(i) above, the transferor of such beneficial interest
        must deliver to the Registrar either (A)(1) a written order from a Participant
        or an Indirect Participant given to the Depositary in accordance with the
        Applicable Procedures directing the Depositary to credit or cause to be credited
        a beneficial interest in another Global Note in an amount equal to the
        beneficial interest to be transferred or exchanged and (2) instructions given
        in
        accordance with the Applicable Procedures containing information regarding
        the
        Participant account to be credited with such increase or (B) if permitted
        under
        Section 2.6(a) hereof, (1) a written order from a Participant or an Indirect
        Participant given to the Depositary in accordance with the Applicable Procedures
        directing the Depositary to cause to be issued a Definitive Note in an amount
        equal to the beneficial interest to be transferred or exchanged and (2)
        instructions given by the Depositary to the Registrar containing information
        regarding the Person in whose name such Definitive Note shall be registered
        to
        effect the transfer or exchange referred to in (B)(1) above; provided
        that in no event shall Definitive Notes be issued upon the transfer or exchange
        of beneficial interests in the Regulation S Temporary Global Note prior to
        (A)
        the expiration of the Distribution Compliance Period and (B) the receipt
        by the
        Registrar of any certificates required pursuant to Rule 903 under the Securities
        Act.  Upon satisfaction of all of the requirements for transfer or
        exchange of beneficial interests in Global Notes contained in this Indenture
        and
        the Notes or otherwise applicable under the Securities Act, the Trustee shall
        adjust the principal amount of the relevant Global Note(s) pursuant to Section
        2.6(h) hereof.

       

      
        
          
          

        

        
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      (iii)  Transfer
        of Beneficial Interests in a Restricted Global Note to Another Restricted
        Global
        Note. A beneficial interest in any Restricted Global Note may be transferred
        to a Person who takes delivery thereof in the form of a beneficial interest
        in
        another Restricted Global Note if the transfer complies with the requirements
        of
        Section 2.6(b)(ii) above and the Registrar receives the following:

       

      (A)  if
        the
        transferee shall take delivery in the form of a beneficial interest in a
        144A
        Global Note, then the transferor must deliver a certificate in the form of
        Exhibit B hereto, including the certifications in item (1) thereof or, if
        permitted by Applicable Procedures, item (3) thereof; and

       

      (B)  if
        the
        transferee shall take delivery in the form of a beneficial interest in a
        Regulation S Global Note, then the transferor must deliver a certificate
        in the
        form of Exhibit B hereto, including the certifications in item (2)
        thereof.

       

      (iv)  Transfer
        and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial
        Interests in an Unrestricted Global Note.  A beneficial interest
        in any Restricted Global Note may be exchanged by any holder thereof for
        a
        beneficial interest in an Unrestricted Global Note or transferred to a Person
        who takes delivery thereof in the form of a beneficial interest in an
        Unrestricted Global Note only if the exchange or transfer complies with the
        requirements of Section 2.6(b)(ii) above and the Registrar receives the
        following: (1) if the holder of such beneficial interest in a Restricted
        Global
        Note proposes to exchange such beneficial interest for a beneficial interest
        in
        an Unrestricted Global Note, a certificate from such holder in the form of
        Exhibit C hereto, including the certifications in item (1)(a) thereof; or
        (2) if
        the holder of such beneficial interest in a Restricted Global Note proposes
        to
        transfer such beneficial interest to a Person who shall take delivery thereof
        in
        the form of a beneficial interest in an Unrestricted Global Note, a certificate
        from such holder in the form of Exhibit B hereto, including the certifications
        in item (4) thereof,

       

      and,
        in
        each such case, if the Registrar so requests or if the Applicable Procedures
        so
        require, an Opinion of Counsel in form reasonably acceptable to the Registrar
        to
        the effect that such exchange or transfer shall be effected in compliance
        with
        the Securities Act and that the restrictions on transfer contained herein
        and in
        the Private Placement Legend shall no longer be required in order to maintain
        compliance with the Securities Act.

       

      If
        any
        such transfer is effected at a time when an Unrestricted Global Note has
        not yet
        been issued, the Issuer shall execute and, upon receipt of an Authentication
        Order in accordance with Section 2.2 hereof, the Trustee shall authenticate
        one
        or more Unrestricted Global Notes in an aggregate principal amount equal
        to the
        aggregate principal amount of beneficial interests transferred pursuant to
        this
        Section 2.6(b)(iv).

       

      (v)  Transfer
        or Exchange of Beneficial Interests in Unrestricted Global Notes for Beneficial
        Interests in Restricted Global Notes Prohibited. Beneficial interests in an
        Unrestricted Global Note may not be exchanged for, or transferred to Persons
        who
        take delivery thereof in the form of, beneficial interests in a Restricted
        Global Note.

       

      (c)  Transfer
        or Exchange of Beneficial Interests for Definitive Notes.

       

      
        
          
          

        

        
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      (i)  Beneficial
        Interests in Restricted Global Notes to Restricted Definitive Notes. Subject
        to Section 2.6(a) hereof, if any holder of a beneficial interest in a Restricted
        Global Note proposes to exchange such beneficial interest for a Restricted
        Definitive Note or to transfer such beneficial interest to a Person who takes
        delivery thereof in the form of a Restricted Definitive Note, then, upon
        receipt
        by the Registrar of the following documentation:

       

      (A)  if
        the
        holder of such beneficial interest in a Restricted Global Note proposes to
        exchange such beneficial interest for a Restricted Definitive Note, a
        certificate from such holder in the form of Exhibit C hereto, including the
        certifications in item (2)(a) thereof;

       

      (B)  if
        such
        beneficial interest is being transferred to a QIB in accordance with Rule
        144A,
        a certificate to the effect set forth in Exhibit B hereto, including the
        certifications in item (1) thereof,

       

      (C)  if
        such
        beneficial interest is being transferred to a “non-U.S. Person” (as defined in
        Rule 902(k) of Regulation S) in an offshore transaction in accordance with
        Rule
        903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto,
        including the certifications in item (2) thereof;

       

      (D)  if
        such
        beneficial interest is being transferred pursuant to an exemption from the
        registration requirements of the Securities Act in accordance with Rule 144
        under the Securities Act, a certificate to the effect set forth in Exhibit
        B
        hereto, including the certifications in item (3)(a) thereof;

       

      (E)  if
        such
        beneficial interest is being transferred to the Issuer or any of its
        Subsidiaries, a certificate to the effect set forth in Exhibit B hereto,
        including the certifications in item (3)(b) thereof, or

       

      (F)  if
        such
        beneficial interest is being transferred pursuant to an effective registration
        statement under the Securities Act, a certificate to the effect set forth
        in
        Exhibit B hereto, including the certifications in item 3(c)
        thereof,

       

      the
        Trustee shall reduce or cause to be reduced in a corresponding amount pursuant
        to Section 2.6(h) hereof the aggregate principal amount of the applicable
        Restricted Global Note, and the Issuer shall execute and, upon receipt of
        an
        Authentication Order in accordance with Section 2.2 hereof, the Trustee shall
        authenticate and deliver a Restricted Definitive Note in the appropriate
        principal amount to the Person designated by the holder of such beneficial
        interest in instructions delivered to the Registrar by the Depositary and
        the
        applicable Participant or Indirect Participant on behalf of such holder.
        Any
        Restricted Definitive Note issued in exchange for a beneficial interest in
        a
        Restricted Global Note pursuant to this Section 2.6(c)(i) shall be registered
        in
        such name or names and in such authorized denomination or denominations as
        the
        holder of such beneficial interest shall designate in such instructions.
        The
        Trustee shall deliver such Restricted Definitive Notes to the Persons in
        whose
        names such Notes are so registered. Any Restricted Definitive Note issued
        in
        exchange for a beneficial interest in a Restricted Global Note pursuant to
        this
        Section 2.6(c)(i) shall bear the Private Placement Legend and shall be subject
        to all restrictions on transfer contained therein.

       

      
        
          
          

        

        
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      (ii)  Beneficial
        Interests in Regulation S Temporary Global Note to Definitive
        Notes.  Notwithstanding Sections 2.6(c)(i)(A) and (C)
        hereof, a beneficial interest in the Regulation S Temporary Global Note may
        not
        be exchanged for a Definitive Note or transferred to a Person who takes delivery
        thereof in the form of a Definitive Note prior to (A) the expiration of the
        Distribution Compliance Period and (B) the receipt by the Registrar of any
        certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities
        Act, except in the case of a transfer pursuant to an exemption from the
        registration requirements of the Securities Act other than Rule 903 or Rule
        904.

       

      (iii)  Beneficial
        Interests in Restricted Global Notes to Unrestricted Definitive Notes.
        Subject to Section 2.6(a) hereof, a holder of a beneficial interest in a
        Restricted Global Note may exchange such beneficial interest for an Unrestricted
        Definitive Note or may transfer such beneficial interest to a Person who
        takes
        delivery thereof in the form of an Unrestricted Definitive Note only if the
        Registrar receives the following: (1) if the holder of such beneficial interest
        in a Restricted Global Note proposes to exchange such beneficial interest
        for an
        Unrestricted Definitive Note, a certificate from such holder in the form
        of
        Exhibit C hereto, including the certifications in item (1)(b) thereof, or
        (2) if
        the holder of such beneficial interest in a Restricted Global Note proposes
        to
        transfer such beneficial interest to a Person who shall take delivery thereof
        in
        the form of an Unrestricted Definitive Note, a certificate from such holder
        in
        the form of Exhibit B hereto, including the certifications in item (4)
        thereof,

       

      and,
        in
        each such case, if the Registrar so requests or if the Applicable Procedures
        so
        require, an Opinion of Counsel in form reasonably acceptable to the Registrar
        to
        the effect that such exchange or transfer shall be effected in compliance
        with
        the Securities Act and that the restrictions on transfer contained herein
        and in
        the Private Placement Legend shall no longer be required in order to maintain
        compliance with the Securities Act.

       

      Upon
        satisfaction of the conditions of any of the clauses of this Section 2.6(c)(ii)
        the Issuer shall execute, and, upon receipt of an Authentication Order in
        accordance with Section 2.2 hereof, the Trustee shall authenticate and deliver
        an Unrestricted Definitive Note in the appropriate principal amount to the
        Person designated by the holder of such beneficial interest in instructions
        delivered to the Registrar by the Depositary and the applicable Participant
        or
        Indirect Participant on behalf of such holder, and the Trustee shall reduce
        or
        cause to be reduced in a corresponding amount pursuant to Section 2.6(h)
        hereof
        the aggregate principal amount of the applicable Restricted Global
        Note.

       

      
        
          
          

        

        
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      (iv)  Beneficial
        Interests in Unrestricted Global Notes to Unrestricted Definitive Notes.
        Subject to Section 2.6(a) hereof, if any holder of a beneficial interest
        in an
        Unrestricted Global Note proposes to exchange such beneficial interest for
        an
        Unrestricted Definitive Note or to transfer such beneficial interest to a
        Person
        who takes delivery thereof in the form of an Unrestricted Definitive Note,
        then,
        upon satisfaction of the applicable conditions set forth in Section 2.6(b)(ii)
        hereof, the Trustee shall reduce or cause to be reduced in a corresponding
        amount pursuant to Section 2.6(h) hereof the aggregate principal amount of
        the
        applicable Unrestricted Global Note, and the Issuer shall execute and, upon
        receipt of an Authentication Order in accordance with Section 2.2 hereof,
        the
        Trustee shall authenticate and deliver an Unrestricted Definitive Note in
        the
        appropriate principal amount to the Person designated by the holder of such
        beneficial interest in instructions delivered to the Registrar by the Depositary
        and the applicable Participant or Indirect Participant on behalf of such
        holder.
        Any Unrestricted Definitive Note issued in exchange for a beneficial interest
        pursuant to this Section 2.6(c)(iv) shall be registered in such name or names
        and in such authorized denomination or denominations as the holder of such
        beneficial interest shall designate in such instructions. The Trustee shall
        deliver such Unrestricted Definitive Notes to the Persons in whose names
        such
        Notes are so registered. Any Unrestricted Definitive Note issued in exchange
        for
        a beneficial interest pursuant to this Section 2.6(c)(iv) shall not bear
        the
        Private Placement Legend.

       

      (d)  Transfer
        and Exchange of Definitive Notes for Beneficial Interests.

       

      (i)  Restricted
        Definitive Notes to Beneficial Interests in Restricted Global Notes. If any
        holder of a Restricted Definitive Note proposes to exchange such Note for
        a
        beneficial interest in a Restricted Global Note or to transfer such Restricted
        Definitive Notes to a Person who takes delivery thereof in the form of a
        beneficial interest in a Restricted Global Note, then, upon receipt by the
        Registrar of the following documentation:

       

      (A)  if
        the
        holder of such Restricted Definitive Note proposes to exchange such Note
        for a
        beneficial interest in a Restricted Global Note, a certificate from such
        holder
        in the form of Exhibit C hereto, including the certifications in item (2)(b)
        thereof;

       

      (B)  if
        such
        Restricted Definitive Note is being transferred to a QIB in accordance with
        Rule
        144A, a certificate to the effect set forth in Exhibit B hereto, including
        the
        certifications in item (1) thereof;

       

      (C)  if
        such
        Restricted Definitive Note is being transferred to a “non-U.S. Person” (as
        defined in Rule 902(k) of Regulation S) in an offshore transaction in accordance
        with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit
        B
        hereto, including the certifications in item (2) thereof,

       

      (D)  if
        such
        Restricted Definitive Note is being transferred pursuant to an exemption
        from
        the registration requirements of the Securities Act in accordance with Rule
        144,
        a certificate to the effect set forth in Exhibit B hereto, including the
        certifications in item (3)(a) thereof;

       

      (E)  if
        such
        Restricted Definitive Note is being transferred to the Issuer or any of its
        Subsidiaries, a certificate to the effect set forth in Exhibit B hereto,
        including the certifications in item (3)(b) thereof, or

       

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

      (F)  if
        such
        Restrictive Definitive Note is being transferred pursuant to an effective
        registration statement under the Securities Act, a certificate to the effect
        set
        forth in Exhibit B hereto, including the certification in item 3(c)
        thereof,

       

      the
        Trustee shall cancel the Restricted Definitive Note, increase or cause to
        be
        increased in a corresponding amount pursuant to Section 2.6(h) hereof the
        aggregate principal amount of, in the case of clause (A) above, the appropriate
        Restricted Global Note, in the case of clause (B) above, a 144A Global Note,
        and
        in the case of clause (C) above, a Regulation S Global Note.

       

      (ii)  Restricted
        Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A
        holder of a Restricted Definitive Note may exchange such Note for a beneficial
        interest in an Unrestricted Global Note or transfer such Restricted Definitive
        Note to a Person who takes delivery thereof in the form of a beneficial interest
        in an Unrestricted Global Note only if the Registrar receives the following:
        (1)
        if the holder of such Restricted Definitive Note proposes to exchange such
        Note
        for a beneficial interest in an Unrestricted Global Note, a certificate from
        such holder in the form of Exhibit C hereto, including the certifications
        in
        item (1)(c) thereof, or (2) if the holder of such Restricted Definitive Note
        proposes to transfer such Note to a Person who shall take delivery thereof
        in
        the form of a beneficial interest in an Unrestricted Global Note, a certificate
        from such holder in the form of Exhibit B hereto, including the certifications
        in item (4) thereof,

       

      and,
        in
        each such case, if the Registrar so requests or if the Applicable Procedures
        so
        require, an Opinion of Counsel in form reasonably acceptable to the Registrar
        to
        the effect that such exchange or transfer shall be effected in compliance
        with
        the Securities Act and that the restrictions on transfer contained herein
        and in
        the Private Placement Legend shall no longer be required in order to maintain
        compliance with the Securities Act.

       

      Upon
        satisfaction of the conditions of
        any of the clauses in this Section 2.6(d)(ii), the Trustee shall cancel such
        Restricted Definitive Note and increase or cause to be increased in a
        corresponding amount pursuant to Section 2.6(h) hereof the aggregate principal
        amount of the Unrestricted Global Note.

       

      (iii)  Unrestricted
        Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A
        holder of an Unrestricted Definitive Note may exchange such Note for a
        beneficial interest in an Unrestricted Global Note or transfer such Unrestricted
        Definitive Note to a Person who takes delivery thereof in the form of a
        beneficial interest in an Unrestricted Global Note at any time. Upon receipt
        of
        a request for such an exchange or transfer, the Trustee shall cancel the
        applicable Unrestricted Definitive Note and increase or cause to be increased
        in
        a corresponding amount pursuant to Section 2.6(h) hereof the aggregate principal
        amount of one of the Unrestricted Global Notes.

       

      (iv)  Transfer
        or Exchange of Unrestricted Definitive Notes to Beneficial Interests in
        Restricted Global Notes Prohibited. An Unrestricted Definitive Note may not
        be exchanged for, or transferred to Persons who take delivery thereof in
        the
        form of, beneficial interests in a Restricted Global Note.

       

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

      (v)  Issuance
        of Unrestricted Global Notes. If any such exchange or transfer of a
        Definitive Note for a beneficial interest in an Unrestricted Global Note
        is
        effected pursuant to clause (ii)(B), (ii)(D) or (iii) above at a time when
        an
        Unrestricted Global Note has not yet been issued, the Issuer shall issue
        and,
        upon receipt of an Authentication Order in accordance with Section 2.2 hereof,
        the Trustee shall authenticate one or more Unrestricted Global Notes in an
        aggregate principal amount equal to the principal amount of Definitive Notes
        so
        transferred.

       

      (e)  Transfer
        and Exchange of Definitive Notes for Definitive Notes. Upon request by a
        holder of Definitive Notes and such holder’s compliance with the provisions of
        this Section 2.6(e), the Registrar shall register the transfer or exchange
        of
        Definitive Notes. Prior to such registration of transfer or exchange, the
        requesting holder shall present or surrender to the Registrar the Definitive
        Notes duly endorsed or accompanied by a written instruction of transfer in
        form
        satisfactory to the Registrar duly executed by such holder.  In
        addition, the requesting holder shall provide any additional certifications,
        documents and information, as applicable, required pursuant to the following
        provisions of this Section 2.6(e).

       

      (i)  Restricted
        Definitive Notes to Restricted Definitive Notes. Any Restricted Definitive
        Note may be transferred to and registered in the name of Persons who take
        delivery thereof in the form of a Restricted Definitive Note if the Registrar
        receives the following:

       

      (A)  if
        the
        transfer shall be made pursuant to Rule 144A, a certificate in the form of
        Exhibit B hereto, including the certifications in item (1) thereof,

       

      (B)  if
        the
        transfer shall be made pursuant to Rule 903 or Rule 904, a certificate in
        the
        form of Exhibit B hereto, including the certifications in item (2) thereof,
        and

       

      (C)  if
        the
        transfer shall be made pursuant to any other exemption from the registration
        requirements of the Securities Act, a certificate in the form of Exhibit
        B
        hereto, including the certifications, certificates and Opinion of Counsel
        required by item (3) thereof, if applicable.

       

      (D)  Restricted
        Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive
        Note may be exchanged by the holder thereof for an Unrestricted Definitive
        Note
        or transferred to a Person or Persons who take delivery thereof in the form
        of
        an Unrestricted Definitive Note only if the Registrar receives the
        following:

       

      (1)  if
        the
        holder of such Restricted Definitive Notes proposes to exchange such Notes
        for
        an Unrestricted Definitive Note, a certificate from such holder in the form
        of
        Exhibit C hereto, including the certifications in item (1)(d) thereof;
        or

       

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

      (2)  if
        the
        holder of such Restricted Definitive Notes proposes to transfer such Notes
        to a
        Person who shall take delivery thereof in the form of an Unrestricted Definitive
        Note, a certificate from such holder in the form of Exhibit B hereto, including
        the certifications in item (4) thereof,

       

      and,
        in
        each such case, if the Registrar so requests, an Opinion of Counsel in form
        reasonably acceptable to the Registrar to the effect that such exchange or
        transfer shall be effected in compliance with the Securities Act and that
        the
        restrictions on transfer contained herein and in the Private Placement Legend
        shall no longer be required in order to maintain compliance with the Securities
        Act.

       

      Upon
        satisfaction of the conditions of any of the clauses of Section 2.6(e)(ii)
        the
        Trustee shall cancel the prior Restricted Definitive Note and the Issuer
        shall
        execute, and, upon receipt of an Authentication Order in accordance with
        Section
        2.2 hereof, the Trustee shall authenticate and deliver an Unrestricted
        Definitive Note in the appropriate principal amount to the Person designated
        by
        the holder of such prior Restricted Definitive Note in instructions delivered
        to
        the Registrar by such holder.

       

      (ii)  Unrestricted
        Definitive Notes to Unrestricted Definitive Notes. A holder of Unrestricted
        Definitive Notes may transfer such Notes to a Person who takes delivery thereof
        in the form of an Unrestricted Definitive Note. Upon receipt of a request
        to
        register such a transfer, the Registrar shall register the Unrestricted
        Definitive Notes pursuant to the instructions from the Holders
        thereof.

       

      (f)  [Reserved]

       

      (g)  Legends.
        The following legends shall appear on the face of all Global Notes and
        Definitive Notes issued under this Indenture unless specifically stated
        otherwise in the applicable provisions of this Indenture.

       

      (i)  Private
        Placement Legend.

       

      (A)  Except
        as
        permitted by clause (B) below, each Global Note and each Definitive Note
        (and
        all Notes issued in exchange therefor or substitution thereof) shall bear
        the
        legend in substantially the following form:

       

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

      “THE
        NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
        OF
        1933, AS AMENDED (THE “SECURITIES ACT”), OR OTHER SECURITIES LAWS. NEITHER THIS
        NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
        TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE
        OF SUCH
        REGISTRATION UNLESS THE TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE
        REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER OF THIS SECURITY
        BY
        ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL
        BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (B) IT IS NOT A
        U.S. PERSON AND IS ACQUIRING ITS NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT TO
        RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL
        NOT
        PRIOR TO (X) THE DATE WHICH IS TWO YEARS (OR SUCH SHORTER PERIOD OF TIME
        AS
        PERMITTED BY RULE 144(k) UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION
        THEREUNDER) AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF (OR OF ANY
        PREDECESSOR OF THIS NOTE) OR THE LAST DAY ON WHICH THE ISSUER OR ANY AFFILIATE
        OF THE ISSUER WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE)
        AND
        (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW (THE “RESALE
        RESTRICTION TERMINATION DATE”), OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE
        EXCEPT (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT WHICH
        HAS
        BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE
        NOTES
        ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY
        BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE
        SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A
        QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS
        BEING
        MADE IN RELIANCE ON RULE 144A INSIDE THE UNITED STATES, (D) PURSUANT TO OFFERS
        AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN
        THE
        MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANY OTHER
        AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
        ACT AND
        (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS NOTE IS TRANSFERRED
        A
        NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND; PROVIDED THAT THE ISSUER,
        THE
        TRUSTEE AND THE REGISTRAR SHALL HAVE THE RIGHT PRIOR TO ANY SUCH OFFER, SALE
        OR
        TRANSFER (I) PURSUANT TO CLAUSE (D) OR (E) TO REQUIRE THE DELIVERY OF AN
        OPINION
        OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF
        THEM,
        AND (II) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATION
        OF
        TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS NOTE IS COMPLETED
        AND
        DELIVERED BY THIS TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED
        UPON
        THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.
        AS USED
        HEREIN, THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE
        THE MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES
        ACT.”

       

      (B)  Notwithstanding
        the foregoing, any Global Note or Definitive Note issued pursuant to clauses
        (b)(iv), (c)(ii), (c)(iii), (d)(ii), (d)(iii), (e)(ii), (e)(iii) to this
        Section
        2.6 (and all Notes issued in exchange therefor or substitution thereof) shall
        not bear the Private Placement Legend.

       

      (ii)  Global
        Note Legend. Each Global Note shall bear a legend in substantially the
        following form:

       

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

      “THIS
        GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
        THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS
        HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT
        THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT
        TO SECTION 2.6 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN
        WHOLE
        BUT NOT IN PART PURSUANT TO SECTION 2.6(a) OF THE INDENTURE, (III)THIS GLOBAL
        NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION
        2.11
        OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
        DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER.

       

      UNLESS
        AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM,
        THIS
        NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE
        OF
        THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY UNLESS THIS
        NOTE
        IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
        (55
        WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE ISSUER OR ITS AGENT FOR
        REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
        IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN
        AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
        TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE
        OF
        DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
        OR TO
        ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
        HAS AN INTEREST HEREIN.”

       

      (h)  Cancellation
        and/or Adjustment of Global Notes.  At such time as all
        beneficial interests in a particular Global Note have been exchanged for
        Definitive Notes or a particular Global Note has been redeemed, repurchased
        or
        cancelled in whole and not in part, each such Global Note shall be returned
        to
        or retained and cancelled by the Trustee in accordance with Section 2.11
        hereof.
        At any time prior to such cancellation, if any beneficial interest in a Global
        Note is exchanged for or transferred to a Person who shall take delivery
        thereof
        in the form of a beneficial interest in another Global Note or for Definitive
        Notes, the principal amount of Notes represented by such Global Note shall
        be
        reduced accordingly and an endorsement shall be made on such Global Note
        by the
        Trustee or by the Depositary at the direction of the Trustee to reflect such
        reduction; and if the beneficial interest is being exchanged for or transferred
        to a Person who shall take delivery thereof in the form of a beneficial interest
        in another Global Note, such other Global Note shall be increased accordingly
        and an endorsement shall be made on such Global Note by the Trustee or by
        the
        Depositary at the direction of the Trustee to reflect such
        increase.

       

      (i)  General
        Provisions Relating to Transfers and Exchanges.

       

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

      (i)  No
        service charge shall be made to a Holder of a beneficial interest in a Global
        Note or to a Holder of a Definitive Note for any registration of transfer
        or
        exchange, but the Issuer may require payment of a sum sufficient to cover
        any
        transfer tax or similar governmental charge payable in connection therewith
        (other than any such transfer taxes or similar governmental charge payable
        upon
        exchange or transfer pursuant to Sections 2.10, 3.6, 3.9, 4.12, 4.18 and
        9.5
        hereof).

       

      (ii)  All
        Global Notes and Definitive Notes issued upon any registration of transfer
        or
        exchange of Global Notes or Definitive Notes shall be the valid obligations
        of
        the Issuer, evidencing the same Indebtedness, as the Global Notes or Definitive
        Notes surrendered upon such registration of transfer or exchange and shall
        be
        entitled to all of the benefits of this Indenture equally and proportionately
        with all other Notes duly issued hereunder.

       

      (iii)  Neither
        the Registrar nor the Issuer shall be required (A) to issue, to register
        the
        transfer of or to exchange any Notes during a period beginning at the opening
        of
        business 15 days before the day of any selection of Notes for redemption
        under
        Section 3.2 hereof and ending at the close of business on the date of selection,
        (B) to register the transfer of or to exchange any Note so selected for
        redemption in whole or in part, except the unredeemed portion of any Note
        being
        redeemed in part or (C) to register the transfer of or to exchange a Note
        between a record date (including a Regular Record Date) and the next succeeding
        Interest Payment Date.

       

      (iv)  Prior
        to
        due presentment for the registration of a transfer of any Note, the Trustee,
        any
        Agent and the Issuer may deem and treat the Person in whose name any Note
        is
        registered as the absolute owner of such Note for the purpose of receiving
        payment of principal of and interest on such Note and for all other purposes,
        in
        each case regardless of any notice to the contrary.

       

      (v)  All
        certifications, certificates and Opinions of Counsel required to be submitted
        to
        the Registrar pursuant to this Section 2.6 to effect a registration of transfer
        or exchange may be submitted by facsimile.

       

      (vi)  The
        Trustee is hereby authorized and directed to enter into a letter of
        representation with the Depositary in the form provided by the Issuer and
        to act
        in accordance with such letter.

       

      (vii)  To
        permit
        registrations of transfers and exchanges, the Issuer shall execute, and the
        Trustee shall authenticate, Global Notes and Definitive Notes upon the Issuer’s
        order or at the Registrar’s request.

       

      (viii)  The
        Registrar shall not be required to register the transfer of or exchange any
        Note
        selected for redemption in whole or in part, except the unredeemed portion
        of
        any Note being redeemed in part.

       

      (ix)  The
        Trustee shall authenticate Global Notes and Definitive Notes in accordance
        with
        the provisions of Section 2.2 hereof.

       

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

      
        	
                Section
                  2.7  

              	
                Replacement
                  Notes.

              

      

       

      If
        any
        mutilated Note is surrendered to the Trustee or the Issuer and the Trustee
        receives evidence to its satisfaction of the destruction, loss or theft of
        any
        Note, the Issuer shall issue and the Trustee, upon receipt of an Authentication
        Order in accordance with Section 2.2 hereof, shall authenticate a replacement
        Note. If required by the Trustee or the Issuer, the Holder of such Note shall
        provide indemnity sufficient, in the judgment of the Trustee or the Issuer,
        as
        applicable, to protect the Issuer, the Trustee, any Agent and any Authenticating
        Agent from any loss that any of them may suffer in connection with such
        replacement. If required by the Issuer, such Holder shall reimburse the Issuer
        for its reasonable expenses in connection with such replacement.

       

      Every
        replacement Note issued in accordance with this Section 2.7 shall be the
        valid
        obligation of the Issuer evidencing the same Indebtedness as the destroyed,
        lost
        or stolen Note and shall be entitled to all of the benefits of this Indenture
        equally and proportionately with all other Notes duly issued
        hereunder.

       

      
        	
                Section
                  2.8  

              	
                Outstanding
                  Notes.

              

      

       

      (a)  The
        Notes
        Outstanding at any time shall be the entire principal amount of Notes
        represented by all the Global Notes and Definitive Notes authenticated by
        the
        Trustee except for those cancelled by it, those delivered to it for
        cancellation, those subject to reductions in beneficial interests effected
        by
        the Trustee in accordance with Section 2.6 hereof, and those described in
        this
        Section 2.8 as not Outstanding. Except as set forth in Section 2.9 hereof,
        a
        Note shall not cease to be Outstanding because the Issuer or an Affiliate
        of the
        Issuer holds the Note; provided, however, that Notes held by the Issuer or
        a
        Subsidiary of the Issuer shall be deemed not to be outstanding for purposes
        of
        Section 3.7 hereof.

       

      (b)  If
        a Note
        is replaced pursuant to Section 2.7 hereof, it shall cease to be Outstanding
        unless the Trustee receives proof satisfactory to it that the replaced Note
        is
        held by a bona fide purchaser.

       

      (c)  If
        the
        principal amount of any Note is considered paid under Section 3.1 hereof,
        it
        shall cease to be Outstanding and interest on it shall cease to
        accrue.

       

      (d)  If
        the
        Paying Agent (other than the Issuer, a Subsidiary or an Affiliate of any
        thereof) holds, on a redemption date, a Purchase Date or maturity date, funds
        sufficient to pay Notes payable on that date, then on and after that date
        such
        Notes shall be deemed to be no longer Outstanding and shall cease to accrue
        interest.

       

      
        	
                Section
                  2.9  

              	
                Treasury
                  Notes.

              

      

       

      In
        determining whether the Holders of the required principal amount of Notes
        have
        concurred in any direction, waiver or consent, Notes owned by the Issuer
        or by
        any Affiliate of the Issuer shall be considered as though not Outstanding,
        except that for the purposes of determining whether the Trustee shall be
        protected in relying on any such direction, waiver or consent, only Notes
        that a
        Responsible Officer of the Trustee actually knows are so owned shall be so
        disregarded.

       

      
        	
                Section
                  2.10  

              	
                Temporary
                  Notes.

              

      

       

      Until
        certificates representing Notes are ready for delivery, the Issuer may prepare
        and the Trustee, upon receipt of an Authentication Order in accordance with
        Section 2.2 hereof, shall authenticate temporary Notes. Temporary Notes shall
        be
        substantially in the form of Definitive Notes but may have variations that
        the
        Issuer considers appropriate for temporary Notes and as shall be reasonably
        acceptable to the Trustee. Without unreasonable delay, the Issuer shall prepare
        and the Trustee shall authenticate Global Notes or Definitive Notes in exchange
        for temporary Notes, as applicable.

       

      Holders
        of temporary Notes shall be entitled to all of the benefits of this Indenture
        equally and proportionately with all other Notes duly issued
        hereunder.

       

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

      
        	
                Section
                  2.11  

              	
                Cancellation.

              

      

       

      The
        Issuer at any time may deliver Notes to the Trustee for cancellation. The
        Registrar and Paying Agent shall forward to the Trustee any Notes surrendered
        to
        them for registration of transfer, exchange or payment. Upon sole direction
        of
        the Issuer, the Trustee and no one else shall cancel all Notes surrendered
        for
        registration of transfer, exchange, payment, replacement or cancellation
        and
        shall dispose of such cancelled Notes in accordance with its customary
        procedures (subject to the record retention requirements of the Exchange
        Act or
        other applicable laws) unless the Issuer directs the Trustee in writing to
        be
        returned to them. The Issuer may not issue new Notes to replace Notes that
        it
        has paid or that have been delivered to the Trustee for
        cancellation.

       

      
        	
                Section
                  2.12  

              	
                Defaulted
                  Interest.

              

      

       

      If
        the
        Issuer defaults in a payment of interest on the Notes, it shall pay the
        defaulted interest in any lawful manner plus, to the extent lawful, interest
        payable on the defaulted interest, to the Persons who are Holders on a
        subsequent special record date, in each case at the rate provided in the
        Notes
        and in Section 3.1 hereof. The Issuer shall notify the Trustee in writing
        of the
        amount of defaulted interest proposed to be paid on each Note and the date
        of
        the proposed payment. The Issuer shall fix or cause to be fixed each such
        special record date and payment date, provided that no such special record
        date
        shall be less than 10 days prior to the related payment date for such defaulted
        interest. At least 15 days before the special record date, the Issuer (or,
        upon
        the written request of the Issuer, the Trustee in the name and at the expense
        of
        the Issuer) shall mail or cause to be mailed to Holders a notice that states
        the
        special record date, the related payment date and the amount of such interest
        to
        be paid.

       

      
        	
                Section
                  2.13  

              	
                CUSIP
                  or ISIN Numbers.

              

      

       

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

       

      
        
          
          

        

        
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                Section
                  2.14  

              	
                Issuance
                  of Additional Notes.

              

      

       

      The
        Issuer shall be entitled, subject to its compliance with Section 3.5 hereof,
        to
        issue Additional Notes under this Indenture which shall have identical terms
        as
        the Initial Notes issued on the date hereof, other than with respect to the
        date
        of issuance and issue price. The Initial Notes issued on the date hereof,
        any
        Additional Notes shall be treated as a single class for all purposes under
        this
        Indenture, including without limitation, directions, waivers, amendments,
        consents, redemptions and offers to purchase.

       

      With
        respect to any Additional Notes, the Issuer shall set forth in a Board
        Resolution and an Officers’ Certificate, a copy of each of which shall be
        delivered to the Trustee, the following information:

       

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

       

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

       

      (c)  whether
        such Additional Notes shall be subject to the restrictions on transfer set
        forth
        Section 2.6 hereof relating to Restricted Global Notes and Restricted Definitive
        Notes.

       

      
        	
                Section
                  2.15  

              	
                Record
                  Date.

              

      

       

      The
        record date for purposes of determining the identity of Holders of Notes
        entitled to vote or consent to any action by vote or consent authorized or
        permitted under this Indenture shall be determined as provided for in Trust
        Indenture Act of 1939 § 316(c).

       

      ARTICLE
        THREE

       

      COVENANTS
        OF THE ISSUER

       

      
        	
                Section
                  3.1  

              	
                Payment
                  of Principal and
                  Interest

              

      

       

      The
        Issuer covenants and agrees for the benefit of the Holders of the Notes that
        it
        will duly and punctually pay or cause to be paid the principal of, and interest
        on, each of the Notes at the place or places, at the respective times and
        in the
        manner provided in such Notes and in this Indenture.  If any temporary
        Note provides that interest thereon may be paid while such Note is in temporary
        form, the interest on any such temporary Note shall be paid, only upon
        presentation of such Notes for notation thereon of the payment of such interest,
        in each case subject to any restrictions that may be established pursuant
        to
        Article Two. The interest on Notes (together with any additional amounts
        payable
        pursuant to the terms of such Notes) shall be payable only to or upon the
        written order of the Holders thereof entitled thereto and, at the option
        of the
        Issuer, may be paid by wire transfer or by mailing checks for such interest
        payable to or upon the written order of such Holders at their last addresses
        as
        they appear on the registry books of the Issuer.

       

      
        
          
          

        

        
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                Section
                  3.2  

              	
                Appointment
                  to Fill a Vacancy in Office of
                  Trustee.

              

      

       

      The
        Issuer, whenever necessary to avoid or fill a vacancy in the office of Trustee,
        will appoint, in the manner provided in Section 5.9, a Trustee, so that there
        shall at all times be a Trustee with respect to the Notes.

       

      
        	
                Section
                  3.3  

              	
                Written
                  Statement to Trustee.

              

      

       

      The
        Issuer will furnish to the Trustee on or before January 31 in each year
        (beginning with January 31, 2008) a brief certificate (which need not comply
        with Section 10.5) from the principal executive, financial or accounting
        officer
        of the general partner of the Issuer as to his or her knowledge of the Issuer’s
        compliance with all conditions and covenants under the Indenture (such
        compliance to be determined without regard to any period of grace or requirement
        of notice provided under the Indenture).

       

      
        	
                Section
                  3.4  

              	
                Limitations
                  upon Liens.

              

      

       

      After
        the
        date hereof and so long as any Notes are Outstanding, the Issuer will not,
        and
        will not permit any Subsidiary to, issue, assume or guarantee any Indebtedness
        secured by a mortgage, pledge, lien, security interest or encumbrance (any
        mortgage, pledge, lien, security interest or encumbrance being hereinafter
        in
        this Article referred to as a “mortgage” or “mortgages” or as a “lien” or
“liens”) of, or upon, any property of the Issuer or of any Subsidiary, without
        effectively providing that the Notes shall be equally and ratably secured
        with
        such Indebtedness; provided, however, that the foregoing restriction shall
        not
        apply to:

       

      (a)  Any
        purchase money mortgage created by the Issuer or a Subsidiary to secure all
        or
        part of the purchase price of any property (or to secure a loan made to enable
        the Issuer or a Subsidiary to acquire the property described in such mortgage),
        provided that the principal amount of the Indebtedness secured by any such
        mortgage, together with all other Indebtedness secured by a mortgage on such
        property, shall not exceed the purchase price of the property
        acquired;

       

      (b)  Any
        mortgage existing on any property at the time of the acquisition thereof
        by the
        Issuer or a Subsidiary whether or not assumed by the Issuer or a Subsidiary,
        and
        any mortgage on any property acquired or constructed by the Issuer or a
        Subsidiary and created not later than 12 months after (i) completion of such
        acquisition or construction or (ii) commencement of full operation of such
        property, whichever is later; provided that, if assumed or created by the
        Issuer
        or a Subsidiary, the principal amount of the Indebtedness secured by such
        mortgage, together with all other Indebtedness secured by a mortgage on such
        property, shall not exceed the purchase price of the property acquired or
        the
        cost of the property constructed;

       

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

      (c)  Any
        mortgage created or assumed by the Issuer or a Subsidiary on any contract
        for
        the sale of any product or service or any rights thereunder or any proceeds
        therefrom, including accounts and other receivables, related to the operation
        or
        use of any property acquired or constructed by the Issuer or a Subsidiary
        and
        created not later than 12 months after (i) such acquisition or completion
        of
        such construction or (ii) commencement of full operation of such property,
        whichever is later;

       

      (d)  Any
        mortgage existing on any property of a Subsidiary at the time it becomes
        a
        Subsidiary and any mortgage on property existing at the time of acquisition
        thereof,

       

      (e)  Any
        refunding or extension of maturity, in whole or in part, of any mortgage
        created
        or assumed in accordance with the provisions of subdivision (a), (b), (c)
        or (d)
        above or (j), (p), or (y) below, provided that the principal amount of the
        Indebtedness secured by such refunding mortgage or extended mortgage shall
        not
        exceed the principal amount of the Indebtedness secured by the mortgage to
        be
        refunded or extended outstanding at the time of such refunding or extension
        and
        that such refunding mortgage or extended mortgage shall be limited in lien
        to
        the same property that secured the mortgage so refunded or
        extended;

       

      (f)  Any
        mortgage created or assumed by the Issuer or a Subsidiary to secure loans
        to the
        Issuer or a Subsidiary maturing within 12 months of the date of creation
        thereof
        and not renewable or extendible by the terms thereof at the option of the
        obligor beyond such 12 months, and made in the ordinary course of
        business;

       

      (g)  Mechanics’
        or materialmen’s liens or any lien or charge arising by reason of pledges or
        deposits to secure payment of workmen’s compensation or other insurance, good
        faith deposits in connection with tenders or leases of real estate, bids
        or
        contracts (other than contracts for the payment of money), deposits to secure
        public or statutory obligations, deposits to secure or in lieu of surety,
        stay
        or appeal bonds and deposits as security for the payment of taxes or assessments
        or other similar charges;

       

      (h)  Any
        mortgage arising by reason of deposits with or the giving of any form of
        security to any governmental agency or any body created or approved by law
        or
        governmental regulation for any purpose at any time as required by law or
        governmental regulation as a condition to the transaction of any business
        or the
        exercise of any privilege or license, or to enable the Issuer or a Subsidiary
        to
        maintain self-insurance or to participate in any fund for liability on any
        insurance risks or in connection with workmen’s compensation, unemployment
        insurance, old age pensions or other social security or to share in the
        privileges or benefits required for companies participating in such
        arrangements;

       

      (i)  Mortgages
        upon rights-of-way;

       

      (j)  Undetermined
        mortgages and charges incidental to construction or maintenance;

       

      (k)  The
        right
        reserved to, or vested in, any municipality or governmental or other public
        authority or railroad by the terms of any right, power, franchise, grant,
        license, permit or by any provision of law, to terminate or to require annual
        or
        other periodic payments as a condition to the continuance of such right,
        power,
        franchise, grant, license or permit;

       

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

      (l)  The
        lien
        of taxes and assessments which are not at the time delinquent;

       

      (m)  The
        lien
        of specified taxes and assessments which are delinquent but the validity
        of
        which is being contested in good faith at the time by the Issuer or a
        Subsidiary;

       

      (n)  The
        lien
        reserved in leases for rent and for compliance with the terms of the lease
        in
        the case of leasehold estates;

       

      (o)  Defects
        and irregularities in the titles to any property (including rights-of-way
        and
        easements) which are not material to the business of the Issuer and its
        Subsidiaries considered as a whole;

       

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

       

      (q)  Easements,
        exceptions or reservations in any property of the Issuer or a Subsidiary
        granted
        or reserved for the purpose of pipelines, roads, telecommunication equipment
        and
        cable, streets, alleys, highways, railroad purposes, the removal of oil,
        gas,
        coal or other minerals or timber, and other like purposes, or for the joint
        or
        common use of real property, facilities and equipment, which do not materially
        impair the use of such property for the purposes for which it is held by
        the
        Issuer or such Subsidiary;

       

      (r)  Rights
        reserved to or vested in any municipality or public authority to control
        or
        regulate any property of the Issuer or a Subsidiary, or to use such property
        in
        any manner which does not materially impair the use of such property for
        the
        purposes for which it is held by the Issuer or such Subsidiary;

       

      (s)  Any
        obligations or duties, affecting the property of the Issuer or a Subsidiary,
        to
        any municipality or public authority with respect to any franchise, grant,
        license or permit;

       

      (t)  The
        liens
        of any judgments in an aggregate amount not in excess of $2,000,000 or the
        lien
        of any judgment the execution of which has been stayed or which has been
        appealed and secured, if necessary, by the filing of an appeal
        bond;

       

      (u)  Zoning
        laws and ordinances;

       

      (v)  Any
        mortgage existing on any office equipment, data processing equipment (including
        computer and computer peripheral equipment) or transportation equipment
        (including motor vehicles, aircraft and marine vessels);

       

      (w)  Leases
        now or hereafter existing and any renewals or extensions thereof;

       

      
        
          
          

        

        
          30

          
            

          

        

        
          
          

        

      

      (x)  Any
        lien
        on inventory and receivables incurred in the ordinary course of business
        to
        secure Indebtedness incurred for working capital purposes including liens
        incurred in connection with a sale of receivables; and

       

      (y)  Any
        mortgage not permitted by clauses (a) through (x) above if at the time of,
        and
        after giving effect to, the creation or assumption of any such mortgage,
        the
        aggregate of all Indebtedness of the Issuer and its Subsidiaries secured
        by all
        such mortgages not so permitted by clauses (a) through (x) above do not exceed
        10% of Consolidated Net Tangible Assets.

       

      In
        the
        event that the Issuer or a Subsidiary shall hereafter secure the Notes equally
        and ratably with any other obligation or Indebtedness pursuant to the provisions
        of this Section 3.6, the Trustee is hereby authorized to enter into an indenture
        supplemental hereto and to take such action, if any, as it may deem advisable
        to
        enable it to enforce effectively the rights of the Holders of the Notes so
        secured, equally and ratably with such other obligation or
        Indebtedness.

       

      Subject
        to the provisions of Section 5.1, the Trustee, at its request, may receive
        an
        Opinion of Counsel as conclusive evidence that any such supplemental indenture
        or steps taken to secure the Notes equally and ratably comply with the
        provisions of this Section.

       

      
        	
                Section
                  3.5  

              	
                Limitation
                  on Sale and Leaseback
                  Transactions.

              

      

       

      The
        Issuer agrees that it will not, and will not permit any Subsidiary to, enter
        into any arrangement with any Person providing for the leasing by the Issuer
        or
        a Subsidiary of any Principal Property, acquired or placed into service more
        than 180 days prior to such arrangement (except for leases of three years
        or
        less), whereby such property has been or is to be sold or transferred by
        the
        Issuer or any Subsidiary to such Person (herein referred to as a “Sale and
        Lease-Back Transaction”), unless:

       

      (i)  the
        Issuer or any Subsidiary would, at the time of entering into a Sale and
        Lease-Back Transaction, be entitled to incur Indebtedness secured by a mortgage
        on the property to be leased in an amount at least equal to the Attributable
        Debt in respect of such transaction without equally and ratably securing
        the
        Notes pursuant to Section 3.4 hereof; or

       

      (ii)  the
        Issuer shall covenant that it will apply or cause to be applied an amount
        equal
        to the net proceeds from the sale of the Principal Property so leased to
        the
        retirement (other than any mandatory retirement) of its Funded Indebtedness
        within 90 days of the effective date of any such Sale and Lease Back
        Transaction, provided that the amount to be applied to the retirement of
        Funded
        Indebtedness of the Issuer shall be reduced by (i) the principal amount of
        any
        Notes delivered by the Issuer to the Trustee within 90 days after such Sale
        and
        Lease-Back Transaction for retirement and cancellation, and (ii) the principal
        amount of Funded Indebtedness, other than Notes, voluntarily retired by the
        Issuer within 90 days following such Sale and Lease-Back Transaction, provided,
        further, that the covenant contained in this Section shall not apply to,
        and
        there shall be excluded from Attributable Debt in any computation under this
        Section, Attributable Debt with respect to any Sale and Lease-Back Transaction
        if:

       

      
        
          
          

        

        
          31

          
            

          

        

        
          
          

        

      

      (A)  such
        Sale
        and Lease-Back Transaction is entered into in connection with transactions
        which
        are part of an industrial development or pollution control financing,
        or

       

      (B)  the
        only
        parties involved in such Sale and Lease-Back Transaction are the Issuer and
        any
        Subsidiary or any Subsidiaries.

       

      Notwithstanding
        these restrictions on Sale and Lease-Back Transaction, the Issuer and its
        Subsidiaries may enter into, create, assume and suffer to exist Sale and
        Lease-Back Transactions, not otherwise permitted hereby, if at the time of,
        and
        after giving effect to, such Sale and Lease-Back Transaction, the total
        consolidated Attributable Debt of the Issuer and its Subsidiaries does not
        exceed 10% of Consolidated Net Tangible Assets.

       

      
        	
                Section
                  3.6  

              	
                Holders
                  Lists.

              

      

       

      If
        and so
        long as the Trustee shall not be the Registrar for the Notes, the Issuer
        will
        furnish or cause to be furnished to the Trustee a list in such form as the
        Trustee may reasonably require of the names and addresses of the holders
        of the
        Notes pursuant to § 312 of the Trust Indenture Act of 1939 (a) semi-annually not
        more than 15 days after each record date for the payment of interest on such
        Notes, as hereinabove specified, as of such record date and on dates to be
        determined pursuant to Section 2.5 for non-interest bearing securities in
        each
        year, and (b) at such other times as the Trustee may request in writing,
        within
        thirty days after receipt by the Issuer of any such request as of a date
        not
        more than 15 days prior to the time such information is furnished.

       

      
        	
                Section
                  3.7  

              	
                Reports
                  by the Issuer.

              

      

       

      The
        Issuer covenants to file with the Trustee and Holders of Notes with (1) the
        information regarding our business required to be delivered pursuant to Rule
        144A(d)(4) under the Securities Act and (2) within 90 days after the end
        of each
        fiscal year, audited balance sheets as of the end of the two most recent
        fiscal
        years and audited statements of income and cash flows for each of the three
        fiscal years preceding the date of the most recent balance sheet, and within
        60
        days of the end of each of the first three fiscal quarters, unaudited, unaudited
        interim balance sheets as of the end of the most recent fiscal quarter and
        unaudited interim statements of income and cash flows for the period between
        the
        latest audited balance sheet and the most recent interim balance sheet provided,
        and for the corresponding period of the preceding fiscal year.

       

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

       

      
        	
                Section
                  3.8  

              	
                Reports
                  by the Trustee.

              

      

       

      Any
        Trustee’s report required under § 313(a) of the Trust Indenture Act of 1939
        shall be transmitted on or before May 15 in each year following the date
        hereof,
        so long as any Notes are Outstanding hereunder, and shall be dated as of
        a date
        convenient to the Trustee no more than 60 nor less than 45 days prior
        thereto.

       

      
        
          
          

        

        
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      ARTICLE
        FOUR

       

      DEFAULTS
        ADD REMEDIES

       

      
        	
                Section
                  4.1  

              	
                Event
                  of Default Defined, Acceleration of Maturity, Waiver of
                  Default.

              

      

       

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

       

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

       

      (b)  default
        in the payment of all or any part of the principal on any of the Notes as
        and
        when the same shall become due and payable either at maturity, upon any
        redemption, by declaration or otherwise; or

       

      (c)  default
        in the performance, or breach, of any covenant or warranty of

       

      the
        Issuer in respect of the Notes and continuance of such default or breach
        for a
        period of 60 days (or 180 days in the case of a Reporting Failure) after
        there
        has been given, by registered or certified mail, to the Issuer by the Trustee
        or
        to the Issuer and the Trustee by the Holders of at least 25% in aggregate
        principal amount of the Outstanding Notes, a written notice specifying such
        default or breach and requiring it to be remedied and stating that such notice
        is a “Notice of Default” hereunder; or

       

      (d)  either
        (1) default in payment of any Indebtedness of the Issuer or any Subsidiary
        of
        the Issuer within any applicable grace period after final maturity or (2)
        the
        acceleration of Indebtedness of the Issuer or any Subsidiary of the Issuer
        by
        the holders thereof because of a default and, in either case, the total amount
        of the Indebtedness unpaid or accelerated exceeds $25.0 million; or

       

      (e)  the
        entry
        of a decree or order by a court having jurisdiction in the premises adjudging
        the Issuer or any Significant Subsidiary as bankrupt or insolvent, or approving
        as properly filed a petition seeking reorganization, arrangement, adjustment
        or
        composition of or in respect of the Issuer or any Significant Subsidiary
        under
        the federal bankruptcy law or any other applicable federal or state law,
        or
        appointing a receiver, liquidator, assignee, trustee,
        sequestrator  (or other similar official) of the Issuer or any
        Significant Subsidiary or for any substantial part of its property, or ordering
        the winding up or liquidation of the affairs of the Issuer or any Significant
        Subsidiary, and the continuance of any such decree or order unstayed and
        in
        effect for a period of 60 consecutive days; or

       

      
        
          
          

        

        
          33

          
            

          

        

        
          
          

        

      

      (f)  the
        institution by the Issuer or any Significant Subsidiary of proceedings to
        be
        adjudicated as bankrupt or insolvent or the consent by the Issuer or any
        Significant Subsidiary to the institution of bankruptcy or insolvency
        proceedings against it, or the filing by the Issuer or any Significant
        Subsidiary of a petition or answer or consent seeking reorganization or relief
        under the federal bankruptcy law or any other applicable federal or state
        law,
        or the consent by the Issuer or any Significant Subsidiary to the filing
        of any
        such petition or to the appointment of a receiver, liquidator, assignee,
        trustee, sequestrator (or other similar official) of the Issuer or any
        Significant Subsidiary or for any substantial part of its property, or the
        making by the Issuer or any Significant Subsidiary of any general assignment
        for
        the benefit of creditors;

       

      provided,
        however, that the occurrence of any of the events described in the
        foregoing clause (c) shall not constitute an Event of Default if such occurrence
        is the result of changes in generally accepted accounting principles as
        recognized by the American Institute of Certified Public Accountants at the
        date
        as of which this Indenture is executed and a certificate to such effect is
        delivered to the Trustee by the Issuer’s independent public
        accountants.

       

      If
        an
        Event of Default described in clauses (a), (b), (c) or (d) above occurs and
        is
        continuing, then, and in each and every such case, either the Trustee or
        the
        Holders of not less than 25% in aggregate principal amount of the Notes then
        Outstanding hereunder, by notice in writing to the Issuer (and to the Trustee
        if
        given by the Holders), may declare the entire principal and the interest
        accrued
        thereon, if any, to be due and payable immediately, and upon any such
        declaration, the same shall become immediately due and payable. If an Event
        of
        Default described in clause (e) or (f) occurs and is continuing, then and
        in
        each and every such case, unless the principal of all the Notes shall have
        already become due and payable, the entire principal of all of the Notes
        then
        Outstanding, and interest accrued thereon, if any, will become immediately
        due
        and payable without any declaration of acceleration or other act on the part
        of
        the Trustee or any Holders.

       

      The
        foregoing provisions, however, are subject to the condition that if, at any
        time
        after the principal of the Notes shall have been so declared due and payable
        or
        become automatically due and payable, and before any judgment or decree for
        the
        payment of the moneys due shall have been obtained or entered as hereinafter
        provided, the Issuer shall pay or shall deposit with the Trustee a sum
        sufficient to pay all matured installments of interest upon all the Notes
        and
        the principal of all Notes which shall have become due otherwise than by
        acceleration (with interest upon such principal and, to the extent that payment
        of such interest is enforceable under applicable law, on overdue installments
        of
        interest, at the same rate as the rate of interest specified in the Notes
        to the
        date of such payment or deposit) and such amount as shall be sufficient to
        cover
        reasonable compensation to the Trustee and each predecessor Trustee and their
        agents, attorneys and counsel, and all other expenses and liabilities incurred,
        and all advances made, by the Trustee and each predecessor Trustee except
        as a
        result of negligence or bad faith, and if any and all Events of Default under
        this Indenture, other than the non-payment of the principal of Notes which
        shall
        have become due by acceleration, shall have been cured, waived or otherwise
        remedied as provided herein, then and in every such case the Holders of a
        majority in aggregate principal amount of all the Notes then Outstanding,
        by
        written notice to the Issuer and to the Trustee, may waive all defaults with
        respect to the Notes, and rescind and annul such declaration and its
        consequences, but no such waiver or rescission and annulment shall extend
        to or
        shall affect any subsequent default or shall impair any right consequent
        thereon.

       

      
        
          
          

        

        
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                Section
                  4.2  

              	
                Collection
                  of Indebtedness by Trustee; Trustee May Prove
                  Debt.

              

      

       

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

       

      Until
        such demand is made by the Trustee, the Issuer may pay the principal of and
        interest on the Notes to the registered Holders, whether or not the principal
        of
        and interest on Notes be overdue.

       

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

       

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

       

      (a)  to
        file
        and prove a claim or claims for the whole amount of principal and interest
        owing
        and unpaid in respect of the Notes and to file such other papers or documents
        as
        may be necessary or advisable in order to have the claims of the Trustee
        (including any claim for reasonable compensation to the Trustee and each
        predecessor Trustee, and their respective agents, attorneys and counsel,
        and for
        reimbursement of all expenses and liabilities incurred, and all advances
        made,
        by the Trustee and each predecessor Trustee, except as a result of negligence
        or
        bad faith) and of the Holders allowed in any judicial proceedings relative
        to
        the Issuer or other obligor upon the Notes, or to the creditors or property
        of
        the Issuer or such other obligor,

       

      (b)  unless
        prohibited by applicable law and regulations, to vote on behalf of the Holders
        of the Notes in any election of a trustee or a standby trustee in arrangement,
        reorganization, liquidation or other bankruptcy or insolvency proceedings
        or
        Person performing similar functions in comparable proceedings, and

       

      
        
          
          

        

        
          35

          
            

          

        

        
          
          

        

      

      (c)  to
        collect and receive any moneys or other property payable or deliverable on
        any
        such claims, and to distribute all amounts received with respect to the claims
        of the Holders and of the Trustee on their behalf, and any trustee, receiver,
        or
        liquidator, custodian or other similar official is hereby authorized by each
        of
        the Holders to make payments to the Trustee, and, in the event that the Trustee
        shall consent to the making of payments directly to the Holders, to pay to
        the
        Trustee such amounts as shall be sufficient to cover reasonable compensation
        to
        the Trustee, each predecessor Trustee and their respective agents, attorneys
        and
        counsel, and all other expenses and liabilities incurred, and all advances
        made,
        by the Trustee and each predecessor Trustee except as a result of negligence
        or
        bad faith.

       

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

       

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

       

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

       

      
        	
                Section
                  4.3  

              	
                Application
                  of Proceeds.

              

      

       

      Any
        moneys collected by the Trustee pursuant to this Article in respect of any
        series shall be applied in the following order at the date or dates fixed
        by the
        Trustee and, in case of the distribution of such moneys on account of principal
        or interest, upon presentation of the several Notes in respect of which monies
        have been collected and stamping (or otherwise noting) thereon the payment,
        or
        issuing Notes in reduced principal amounts in exchange for the presented
        Notes
        if only partially paid, or upon surrender thereof if fully paid:

       

      
        
          
          

        

        
          36

          
            

          

        

        
          
          

        

      

      FIRST:
        To the payment of costs and
        expenses in respect of which monies have been collected, including reasonable
        compensation to the Trustee and each predecessor Trustee and their respective
        agents and attorneys and of all expenses and liabilities incurred, and all
        advances made, by the Trustee and each predecessor Trustee except as a result
        of
        negligence or bad faith;

       

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

       

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

       

      FOURTH:
        To the payment of the
        remainder, if any, to the Issuer.

       

      
        	
                Section
                  4.4  

              	
                Suits
                  for Enforcement.

              

      

       

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

       

      
        	
                Section
                  4.5  

              	
                Restoration
                  of Rights on Abandonment of
                  Proceedings.

              

      

       

      In
        case
        the Trustee shall have proceeded to enforce any right under this Indenture
        and
        such proceedings shall have been discontinued or abandoned for any reason,
        or
        shall have been determined adversely to the Trustee, then and in every such
        case
        the Issuer and the Trustee shall be restored respectively to their former
        positions and rights hereunder, and all rights, remedies and powers of the
        Issuer, the Trustee and the Holders shall continue as though no such proceedings
        had been taken.

       

      
        
          
          

        

        
          37

          
            

          

        

        
          
          

        

      

      
        	
                Section
                  4.6  

              	
                Limitations
                  on Suits by Holders.

              

      

       

      No
        Holder
        of any Note shall have any right by virtue or by availing of any provision
        of
        this Indenture to institute any action or proceeding at law or in equity
        or in
        bankruptcy or otherwise upon or under or with respect to this Indenture,
        or for
        the appointment of a trustee, receiver, liquidator, custodian or other similar
        official or for any other remedy hereunder, unless such Holder previously
        shall
        have given to the Trustee written notice of default and of the continuance
        thereof, as hereinbefore provided, and unless also the Holders of not less
        than
        25% in aggregate principal amount of the Notes shall have made written request
        upon the Trustee to institute such action or proceedings in its own name
        as
        Trustee hereunder and shall have offered to the Trustee such indemnity
        reasonably satisfactory to it against the costs, expenses and liabilities
        to be
        incurred therein or thereby and the Trustee for 60 days after its receipt
        of
        such notice, request and offer of indemnity shall have failed to institute
        any
        such action or proceeding and no direction inconsistent with such written
        request shall have been given to the Trustee pursuant to Section 4.9; it
        being
        understood and intended, and being expressly covenanted by the taker and
        Holder
        of every Note with every other taker and Holder and the Trustee, that no
        one or
        more Holders of Notes shall have any right in any manner whatever by virtue
        or
        by availing of any provision of this Indenture to affect, disturb or prejudice
        the rights of any other such Holder of Notes, or to obtain or seek to obtain
        priority over or preference to any other such Holder or to enforce any right
        under this Indenture, except in the manner herein provided and for the equal,
        ratable and common benefit of all Holders of Notes. For the protection and
        enforcement of the provisions of this Section, each and every Holder and
        the
        Trustee shall be entitled to such relief as can be given either at law or
        in
        equity.

       

      
        	
                Section
                  4.7  

              	
                Unconditional
                  Right of Holders to Institute Certain
                  Suits.

              

      

       

      Notwithstanding
        any other provision in this Indenture and any provision of any Note, the
        right
        of any Holder of any Note to receive payment of the principal of and interest
        on
        such Note on or after the respective due dates expressed or provided for
        in such
        Note, or to institute suit for the enforcement of any such payment on or
        after
        such respective dates, shall not be impaired or affected without the consent
        of
        such Holder.

       

      
        	
                Section
                  4.8  

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

              

      

       

      Except
        as
        provided in Section 4.6, no right or remedy herein conferred upon or reserved
        to
        the Trustee or to the Holders of Notes is intended to be exclusive of any
        other
        right or remedy, and every right and remedy shall, to the extent permitted
        by
        law, be cumulative and in addition to every other right and remedy given
        hereunder or now or hereafter existing at law or in equity or otherwise.
        The
        assertion or employment of any right or remedy hereunder, or otherwise, shall
        not prevent the concurrent assertion or employment of any other appropriate
        right or remedy.

       

      No
        delay
        or omission of the Trustee or of any Holder of Notes to exercise any right
        or
        power accruing upon any Event of Default occurring and continuing as aforesaid
        shall impair any such right or power or shall be construed to be a waiver
        of any
        such Event of Default or an acquiescence therein; and, subject to Section
        4.6,
        every power and remedy given by this Indenture or by law to the Trustee or
        to
        the Holders of Notes may be exercised from time to time, and as often as
        shall
        be deemed expedient, by the Trustee or by the Holders of Notes.

       

      
        
          
          

        

        
          38

          
            

          

        

        
          
          

        

      

      
        	
                Section
                  4.9  

              	
                Control
                  by Holders of Notes.

              

      

       

      The
        Holders of a majority in aggregate principal amount of the Notes at the time
        Outstanding shall have the right to direct the time, method, and place of
        conducting any proceeding for any remedy available to the Trustee, or exercising
        any trust or power conferred on the Trustee with respect to the Notes by
        this
        Indenture; provided that such direction shall not be otherwise than in
        accordance with law and the provisions of this Indenture and provided further
        that (subject to the provisions of Section 5.1) the Trustee shall have the
        right
        to decline to follow any such direction if the Trustee, being advised by
        counsel, shall determine that the action or proceeding so directed may not
        lawfully be taken or if the Trustee in good faith by its board of directors,
        the
        executive committee, or a trust committee of directors or Responsible Officers
        of the Trustee shall determine that the action or proceedings so directed
        would
        involve the Trustee in personal liability or if the Trustee in good faith
        shall
        so determine that the actions or forbearances specified in or pursuant to
        such
        direction would be unduly prejudicial to the interests of Holders of the
        Notes
        of all series so affected not joining in the giving of said direction, it
        being
        understood that (subject to Section 5.1) the Trustee shall have no duty to
        ascertain whether or not such actions or forbearances are unduly prejudicial
        to
        such Holders.

       

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

       

      
        	
                Section
                  4.10  

              	
                Waiver
                  of Past Defaults.

              

      

       

      Prior
        to
        the acceleration of the maturity of any Notes as provided in Section 4.1,
        the
        Holders of a majority in aggregate principal amount of the Notes at the time
        Outstanding with respect to which an Event of Default shall have occurred
        and be
        continuing may on behalf of the Holders of all such Notes waive any past
        default
        or Event of Default described in Section 4.1 and its consequences, except
        a
        default in respect of a covenant or provision hereof which cannot be modified
        or
        amended without the consent of the Holder of each Note affected. In the case
        of
        any such waiver, the Issuer, the Trustee and the Holders of all such Notes
        shall
        be restored to their former positions and rights hereunder, respectively;
        but no
        such waiver shall extend to any subsequent or other default or impair any
        right
        consequent thereon.

       

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

       

      
        
          
          

        

        
          39

          
            

          

        

        
          
          

        

      

      
        	
                Section
                  4.11  

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

              

      

       

      The
        Trustee shall, within 90 days after the occurrence of a Default with respect
        to
        the Notes, give notice of all Defaults known to the Trustee to all Holders
        of
        Notes in the manner and to the extent provided in § 313(c) of the Trust
        Indenture Act of 1939, unless in each case such Defaults shall have been
        cured
        before the mailing of such notice; provided that, except in the case of default
        in the payment of the principal of or interest on any of the Notes, the Trustee
        shall be protected in withholding such notice if and so long as the board
        of
        directors, the executive committee, or a trust committee of directors or
        trustees and/or Responsible Officers of the Trustee in good faith determines
        that the withholding of such notice is in the interests of the
        Holders.

       

      
        	
                Section
                  4.12  

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

              

      

       

      All
        parties to this Indenture agree, and each Holder of any Note by its acceptance
        thereof shall be deemed to have agreed, that any court may in its discretion
        require, in any suit for the enforcement of any right or remedy under this
        Indenture or in any suit against the Trustee for any action taken, suffered
        or
        omitted by it as Trustee, the filing by any party litigant in such suit of
        an
        undertaking to pay the costs of such suit, and that such court may in its
        discretion assess reasonable costs, including reasonable attorneys’ fees and
        expenses, against any party litigant in such suit, having due regard to the
        merits and good faith of the claims or defenses made by such party litigant;
        but
        the provisions of this Section shall not apply to any suit instituted by
        the
        Trustee, to any suit instituted by any Holder or group of Holders holding
        in the
        aggregate more than 10% in aggregate principal amount of the Notes, or, in
        the
        case of any suit relating to or arising under clause (c) or (f) of Section
        4.1,
        or to any suit instituted by any Holder for the enforcement of the payment
        of
        the principal of or interest on any Note on or after the due date expressed
        in
        such Note or any date fixed for redemption.

       

      ARTICLE
        FIVE

       

      CONCERNING
        THE TRUSTEE

       

      
        	
                Section
                  5.1  

              	
                Duties
                  and Responsibilities of the Trustee; During, Default; Prior to
                  Default.

              

      

       

      With
        respect to the Holders of Notes issued hereunder, the Trustee, prior to the
        occurrence of an Event of Default with respect to the Notes and after the
        curing
        or waiving of all Events of Default which may have occurred, undertakes to
        perform such duties and only such duties as are specifically set forth in
        this
        Indenture.  In case an Event of Default with respect to the Notes has
        occurred (which has not been cured or waived) the Trustee shall exercise
        with
        respect to the Notes such of the rights and powers vested in it by this
        Indenture, and use the same degree of care and skill in their exercise, as
        a
        prudent person would exercise or use under the circumstances in the conduct
        of
        such person’s own affairs.

       

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

       

      
        
          
          

        

        
          40

          
            

          

        

        
          
          

        

      

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

       

      (i)  the
        duties and obligations of the Trustee with respect

       

      to
        the
        Notes of any series shall be determined solely by the express provisions
        of this
        Indenture, and the Trustee shall not be liable except for the performance
        of
        such duties and obligations as are specifically set forth in this Indenture,
        and
        no implied covenants or obligations shall be read into this Indenture against
        the Trustee; and

       

      (ii)  in
        the
        absence of bad faith on the part of the Trustee,

       

      the
        Trustee may conclusively rely, as to the truth of the statements and the
        correctness of the opinions expressed therein, upon any statements, certificates
        or opinions furnished to the Trustee and conforming to the requirements of
        this
        Indenture; but in the case of any such statements, certificates or opinions
        which by any provision 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 (but need
        not
        confirm or investigate the accuracy of mathematical calculations or other
        facts
        stated therein);

       

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

       

      (c)  the
        Trustee shall not be liable with respect to any action taken or omitted to
        be
        taken by it in good faith in accordance with the direction of the Holders
        pursuant to Section 4.9 relating to the time, method and place of conducting
        any
        proceeding for any remedy available to the Trustee, or exercising any trust
        or
        power conferred upon the Trustee, under this Indenture.

       

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

       

      The
        provisions of this Section 5.1 are in furtherance of and subject to §§ 315 and
        316 of the Trust Indenture Act of 1939.

       

      
        	
                Section
                  5.2  

              	
                Certain
                  Rights of Trustee.

              

      

       

      In
        furtherance of and subject to the Trust Indenture Act of 1939, and subject
        to
        Section 5.1:

       

      (a)  the
        Trustee may conclusively rely and shall be fully protected in acting or
        refraining from acting upon any resolution, Officers’ Certificate or any other
        certificate, statement, instrument, opinion, report, notice, request, consent,
        order, bond, debenture, note, , Note or other paper or document believed
        by it
        to be genuine and to have been signed or presented by the proper party or
        parties;

       

      
        
          
          

        

        
          41

          
            

          

        

        
          
          

        

      

      (b)  any
        request, direction, order or demand of the Issuer mentioned herein shall
        be
        sufficiently evidenced by an Officers’ Certificate (unless other evidence in
        respect thereof be herein specifically prescribed); and any resolution of
        the
        Board of Directors may be evidenced to the Trustee by a copy thereof certified
        by the secretary or an assistant secretary of the general partner of the
        Issuer;

       

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

       

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

       

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

       

      (f)  prior
        to
        the occurrence of an Event of Default hereunder and after the curing or waiving
        of all Events of Default, the Trustee shall not be bound to make any
        investigation into the facts or matters stated in any resolution, certificate,
        statement, instrument, opinion, report, notice, request, consent, order,
        approval, appraisal, bond, debenture, note, Note, or other paper or document
        unless requested in writing so to do by the Holders of not less than a majority
        in aggregate principal amount of the Notes then Outstanding; provided that,
        if
        the payment within a reasonable time to the Trustee of the costs, expenses
        or
        liabilities likely to be incurred by it in the making of such investigation
        is,
        in the opinion of the Trustee, not reasonably assured to the Trustee by the
        security afforded to it by the terms of this Indenture, the Trustee may require
        reasonable indemnity against such expenses or liabilities as a condition
        to
        proceeding; the reasonable expenses of every such investigation shall be
        paid by
        the Issuer or, if paid by the Trustee or any predecessor Trustee, shall be
        repaid by the Issuer upon demand;

       

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

       

      (h)  in
        no
        event shall the Trustee be responsible or liable for special, indirect, or
        consequential loss or damage of any kind whatsoever (including, but not limited
        to, loss of profit) irrespective of whether the Trustee has been advised
        of the
        likelihood of such loss or damage and regardless of the form of
        action;

       

      
        
          
          

        

        
          42

          
            

          

        

        
          
          

        

      

      (i)  the
        Trustee shall not be deemed to have notice of any Default or Event of Default
        unless a Responsible Officer of the Trustee has actual knowledge thereof
        or
        unless written notice of any event which is in fact such a default is received
        by the Trustee at the Corporate Trust Office of the Trustee, and such notice
        references the Notes and this Indenture;

       

      (j)  the
        rights, privileges, protections, immunities and benefits given to the Trustee,
        including, without limitation, its right to be indemnified, are extended
        to, and
        shall be enforceable by, the Trustee in each of its capacities hereunder,
        and
        each agent, custodian and other Person employed to act hereunder;
        and

       

      (k)  the
        Trustee may request that the Issuer deliver an Officers’ Certificate setting
        forth the names of individuals and/or titles of officers authorized at such
        time
        to take specified actions pursuant to this Indenture, which Officers’
Certificate may be signed by any person authorized to sign an Officers’
Certificate, including any person specified as so authorized in any such
        certificate previously delivered and not superseded.

       

      
        	
                Section
                  5.3  

              	
                Trustee
                  Not Responsible for Recitals Disposition of Notes or Applications
                  of
                  Proceeds Thereof.

              

      

       

      The
        recitals contained herein and in the Notes, except the Trustee’s certificates of
        authentication, shall be taken as the statements of the Issuer, and the Trustee
        assumes no responsibility for the correctness of the same. The Trustee makes
        no
        representation as to the validity or sufficiency of this Indenture or of
        the
        Notes, except that the Trustee represents that it is duly authorized to execute
        and deliver this Indenture, authenticate the Notes and perform all its
        obligations hereunder. The Trustee shall not be accountable for the use or
        application by the Issuer of any of the Notes or of the proceeds
        thereof.

       

      
        	
                Section
                  5.4  

              	
                Trustee
                  and Agents May Hold Notes, Collections
                  etc.

              

      

       

      The
        Trustee or any agent of the Issuer or the Trustee, in its individual or any
        other capacity, may become the owner or pledgee of Notes with the same rights
        it
        would have if it were not the Trustee or such agent and may otherwise deal
        with
        the Issuer and receive, collect, hold and retain collections from the Issuer
        with the same rights it would have if it were not the Trustee or such
        agent.

       

      
        	
                Section
                  5.5  

              	
                Moneys
                  Held by Trustee.

              

      

       

      Subject
        to the provisions of Section 9.4 hereof, all moneys received by the Trustee
        shall, until used or applied as herein provided, be held in trust for the
        purposes for which they were received, but need not be segregated from other
        funds except to the extent required by mandatory provisions of law. Neither
        the
        Trustee nor any agent of the Issuer or the Trustee shall be under any liability
        for interest on any moneys received by it hereunder.

       

      
        
          
          

        

        
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                Section
                  5.6  

              	
                Compensation
                  and Indemnification of Trustee and Its Prior
                  Claim.

              

      

       

      The
        Issuer covenants and agrees to pay to the Trustee from time to time, and
        the
        Trustee shall be entitled to, such compensation as shall be agreed upon in
        writing (which shall not be limited by any provision of law in regard to
        the
        compensation of a trustee of an express trust) and the Issuer covenants and
        agrees to pay or reimburse the Trustee and each predecessor Trustee upon
        its
        request for all reasonable expenses, disbursements and advances incurred
        or made
        by or on behalf of it in accordance with any of the provisions of this Indenture
        (including the reasonable compensation and the expenses and disbursements
        of its
        counsel and of all agents and other persons not regularly in its employ)
        except
        any such expense, disbursement or advance as shall have been determined to
        have
        been caused by its own negligence or willful misconduct. The Issuer also
        covenants to indemnify the Trustee and each predecessor Trustee for, and
        to hold
        it harmless against, any and all loss, liability, claim, damage or expense,
        including taxes (other than those based on or measured by the income of the
        Trustee) incurred without negligence or willful misconduct on its part, arising
        out of or in connection with the acceptance or administration of this Indenture
        or the trusts hereunder and its duties hereunder, including the costs and
        expenses of defending itself against or investigating any claim of liability
        (whether asserted by the Issuer, any Holder or any other Person) in the
        premises. The obligations of the Issuer under this Section to compensate
        and
        indemnify the Trustee and each predecessor Trustee and to pay or reimburse
        the
        Trustee and each predecessor Trustee for expenses, disbursements and advances
        shall constitute additional indebtedness hereunder and shall survive the
        satisfaction and discharge of this Indenture or the resignation or removal
        of
        the Trustee. Such additional indebtedness shall be a senior claim to that
        of the
        Notes upon all property and funds held or collected by the Trustee as such,
        except funds held in trust for the benefit of the Holders of particular Notes,
        and the Notes are hereby subordinated to such senior claim. When the Trustee
        incurs expenses or renders services in connection with an Event of Default
        specified in Section 4.1(d) or 4.1(e), the expenses (including the reasonable
        charges and expenses of its counsel) and the compensation for the services
        are
        intended to constitute expenses of administration under any applicable Federal
        or state bankruptcy, insolvency or other similar law.

       

      
        	
                Section
                  5.7  

              	
                Right
                  of Trustee to Rely on Officers’
                  Certificate.

              

      

       

      Subject
        to Sections 5.1 and 5.2, whenever in the administration of the trusts of
        this
        Indenture the Trustee shall deem it necessary or desirable that a matter
        be
        proved or established prior to taking or suffering or omitting any action
        hereunder, such matter (unless other evidence in respect thereof be herein
        specifically prescribed) may, in the absence of negligence or bad faith on
        the
        part of the Trustee, be deemed to be conclusively proved and established
        by an
        Officers’ Certificate delivered to the Trustee, and such certificate, in the
        absence of negligence or willful misconduct  on the part of the
        Trustee, shall be full warrant to the Trustee for any action taken, suffered
        or
        omitted by it under the provisions of this Indenture upon the faith
        thereof.

       

      
        	
                Section
                  5.8  

              	
                Persons
                  Eligible for Appointment as
                  Trustee.

              

      

       

      The
        Trustee shall at all times be a corporation organized and doing business
        under
        the laws of the United States of America or of any state or the District
        of
        Columbia having a combined capital and surplus of at least $50,000,000, and
        which is eligible in accordance with the provisions of § 310(a) of the Trust
        Indenture Act of 1939. If such corporation publishes reports of condition
        at
        least annually, pursuant to law or to the requirements of a federal, state
        or
        District of Columbia supervising or examining authority, then for the purposes
        of this Section, the combined capital and surplus of such corporation shall
        be
        deemed to be its combined capital and surplus as set forth in its most recent
        report of condition so published.

       

      
        
          
          

        

        
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                Section
                  5.9  

              	
                Resignation
                  and Removal; Appointment of Successor
                  Trustee

              

      

       

      The
        Trustee, or any trustee or trustees hereafter appointed, may at any time
        resign
        by giving written notice of resignation to the Issuer and by mailing notice
        of
        such resignation to the Holders of then Outstanding Notes at their addresses
        as
        they shall appear on the registry books. Upon receiving such notice of
        resignation, the Issuer shall promptly appoint a successor trustee or trustees
        with respect to the applicable series by written instrument in duplicate,
        executed by authority of the Board of Directors, one copy of which instrument
        shall be delivered to the resigning Trustee and one copy to the successor
        trustee or trustees. If no successor trustee shall have been so appointed
        and
        have accepted appointment within 30 days after the mailing of such notice
        of
        resignation, the resigning trustee may petition any court of competent
        jurisdiction at the expense of the Issuer for the appointment of a successor
        trustee, or any Holder who has been a bona fide Holder of a Note or Notes
        for at
        least six months may, subject to the provisions of Section 4.12, on behalf
        of
        himself and all others similarly situated, petition any such court for the
        appointment of a successor trustee. Such court may thereupon, after such
        notice,
        if any, as it may deem proper and prescribe, appoint a successor
        trustee.

       

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

       

      (i)  the
        Trustee shall fail to comply with the provisions of § 310(b) of the Trust
        Indenture Act of 1939 after written request therefor by the Issuer or by
        any
        Holder who has been a bona fide Holder of a Note or Notes of such series
        for at
        least six months; or

       

      (ii)  the
        Trustee shall cease to be eligible in accordance with the provisions of § 310(a)
        of the Trust Indenture Act of 1939 and shall fail to resign after written
        request therefor by the Issuer or by any Holder; or

       

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

       

      then,
        in
        any such case, the Issuer may remove the Trustee and appoint a successor
        trustee
        for such series by written instrument, in duplicate, executed by order of
        the
        Board of Directors, one copy of which instrument shall be delivered to the
        Trustee so removed and one copy to the successor trustee, or, subject to
§
315(e) of the Trust Indenture Act of 1939, any Holder who has been a bona
        fide
        Holder of a Note or Notes for at least six months may on behalf of himself
        and
        all others similarly situated, petition any court of competent jurisdiction
        for
        the removal of the Trustee and the appointment of a successor trustee. Such
        court may thereupon, after such notice, if any, as it may deem proper and
        prescribe, remove the Trustee and appoint a successor trustee. If an instrument
        of acceptance by a successor Trustee shall not have been delivered to the
        Trustee within 30 days after the giving of such notice of removal, the Trustee
        being removed may petition, at the expense of the Issuer, any court of competent
        jurisdiction for the appointment of a successor Trustee with respect to the
        Notes.

       

      
        
          
          

        

        
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      (b)  The
        Holders of a majority in aggregate principal amount of the Notes at the time
        Outstanding may at any time remove the Trustee with respect to the Notes
        and
        appoint a successor trustee with respect to the Notes by delivering to the
        Trustee so removed, to the successor trustee so appointed and to the Issuer
        the
        evidence provided for in Section 6.1 of the action in that regard taken by
        the
        Holders.

       

      Any
        resignation or removal of the Trustee and any appointment of a successor
        trustee
        with respect to such series pursuant to any of the provisions of this Section
        5.9 shall become effective upon acceptance of appointment by the successor
        trustee as provided in Section 5.10

       

      
        	
                Section
                  5.10  

              	
                Acceptance
                  and Appointment of Successor
                  Trustee.

              

      

       

      Any
        successor trustee appointed as provided in Section 5.9 shall execute and
        deliver
        to the Issuer and to its predecessor trustee an instrument accepting such
        appointment hereunder, and thereupon the resignation or removal of the
        predecessor trustee with respect to all Notes shall become effective and
        such
        successor trustee, without any further act, deed or conveyance, shall become
        vested with all rights, powers, duties and obligations with respect to such
        Notes of its predecessor hereunder, with like effect as if originally named
        as
        trustee for the Notes hereunder; but, nevertheless, on the written request
        of
        the Issuer or of the successor trustee, upon payment of its charges then
        unpaid,
        the trustee ceasing to act shall, subject to Section 9.4, pay over to the
        successor trustee all moneys at the time held by it hereunder and shall execute
        and deliver an instrument transferring to such successor trustee all such
        rights, powers, duties and obligations. Upon request of any such successor
        trustee, the Issuer shall execute any and all instruments in writing for
        more
        fully and certainly vesting in and confirming to such successor trustee all
        such
        rights and powers. Any trustee ceasing to act shall, nevertheless, retain
        a
        prior claim upon all property or funds held or collected by such trustee
        to
        secure any amounts then due it pursuant to the provisions of Section
        5.6.

       

      Upon
        acceptance of appointment by any successor trustee as provided in this Section
        5.10, the Issuer shall give notice thereof to the Holders thereof by mailing
        such notice to such Holders at their addresses as they shall appear on the
        registry books. If the acceptance of appointment is substantially
        contemporaneous with the resignation, then the notice called for by the
        preceding sentence may be combined with the notice called for by Section
        5.9. If
        the Issuer fails to give such notice within ten days after acceptance of
        appointment by the successor trustee, the successor trustee shall cause such
        notice to be given at the expense of the Issuer.

       

      
        	
                Section
                  5.11  

              	
                Merger,
                  Conversion, Consolidation or Succession to Business of
                  Trustee.

              

      

       

      Any
        corporation into which the Trustee may be merged or converted or with which
        it
        may be consolidated, or any corporation resulting from any merger, conversion
        or
        consolidation to which the Trustee shall be a party, or any corporation
        succeeding to all or substantially all the corporate trust business of the
        Trustee, shall be the successor of the Trustee hereunder, provided that such
        corporation shall be eligible under the provisions of Section 5.8, without
        the
        execution or filing of any paper or any further act on the part of any of
        the
        parties hereto, anything herein to the contrary notwithstanding.

       

      
        
          
          

        

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

       

      
        	
                Section
                  5.12  

              	
                Appointment
                  of Authenticating
                  Agent.

              

      

       

      As
        long
        as any Notes remain Outstanding, the Trustee may, by an instrument in writing,
        appoint with the approval of the Issuer an authenticating agent (the
“Authenticating Agent”) which shall be authorized to act on behalf of the
        Trustee to authenticate Notes, including Notes issued upon exchange,
        registration of transfer, partial redemption or pursuant to Section 2.7.
        Notes
        authenticated by such Authenticating Agent shall be entitled to the benefits
        of
        this Indenture and shall be valid and obligatory for all purposes as if
        authenticated by the Trustee. Whenever reference is made in this Indenture
        to
        the authentication and delivery of Notes by the Trustee or to the Trustee’s
        certificate of authentication, such reference shall be deemed to include
        authentication and delivery on behalf of the Trustee by an Authenticating
        Agent
        for such series and a certificate of authentication executed on behalf of
        the
        Trustee by such Authenticating Agent. Such Authenticating Agent shall at
        all
        times be a corporation organized and doing business under the laws of the
        United
        States of America or of any State, authorized under such laws to exercise
        corporate trust powers, having a combined capital and surplus of at least
        $50,000,000 (determined as provided in Section 5.8 with respect to the Trustee)
        and subject to supervision or examination by Federal or State
        authority.

       

      Any
        corporation into which any Authenticating Agent may be merged or converted,
        or
        with which it may be consolidated, or any corporation resulting from any
        merger,
        conversion or consolidation to which any Authenticating Agent shall be a
        party,
        or any corporation succeeding to the corporate agency business of any
        Authenticating Agent, shall continue to be the Authenticating Agent with
        respect
        to the Notes for which it served as Authenticating Agent without the execution
        or filing of any paper or any further act on the part of the Trustee or such
        Authenticating Agent.

       

      Any
        Authenticating Agent may at any time, and if it shall cease to be eligible
        shall, resign by giving written notice of resignation to the Trustee and
        to the
        Issuer. The Trustee may at any time terminate the agency of any Authenticating
        Agent by giving written notice of termination to such Authenticating Agent
        and
        to the Issuer. Upon receiving such a notice of resignation or upon such a
        termination, or in case at any time any Authenticating Agent shall cease
        to be
        eligible in accordance with the provisions of this Section 5.12 with respect
        to
        the Notes, the Trustee may upon receipt of an Issuer Order appoint a successor
        Authenticating Agent and the Issuer shall provide notice of such appointment
        to
        all Holders of Notes of such series in the manner and to the extent provided
        in
        Section 5.10. Any successor Authenticating Agent upon acceptance of its
        appointment hereunder shall become vested with all rights, powers, duties
        and
        responsibilities of its predecessor hereunder, with like effect as if originally
        named as Authenticating Agent. The Issuer agrees to pay to the Authenticating
        Agent for such series from time to time reasonable compensation. The
        Authenticating Agent for the Notes shall have no responsibility or liability
        for
        any action taken by it as such at the direction of the Trustee.

       

      Sections
        5.2, 5.3, 5.4, 5.6, 5.8 and 6.3 shall be applicable to any Authenticating
        Agent.

       

      
        
          
          

        

        
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      ARTICLE
        SIX

       

      CONCERNING
        THE HOLDERS

       

      
        	
                Section
                  6.1  

              	
                Evidence
                  of Action Taken by
                  Holders.

              

      

       

      Any
        request, demand, authorization, direction, notice, consent, waiver or other
        action provided by this Indenture to be given or taken by a specified percentage
        in principal amount of the Holders may be embodied in and evidenced by one
        or
        more instruments of substantially similar tenor signed by such specified
        percentage of Holders in person or by an agent duly appointed in writing;
        and,
        except as herein otherwise expressly provided, such action shall become
        effective when such instrument or instruments are delivered to the Trustee.
        Proof of execution of any instrument or of a writing appointing any such
        agent
        shall be sufficient for any purpose of this Indenture and (subject to Sections
        5.1 and 5.2) conclusive in favor of the Trustee and the Issuer, if made in
        the
        manner provided in this Article.

       

      
        	
                Section
                  6.2  

              	
                Proof
                  of Execution of Instruments and of Holding of
                  Notes.

              

      

       

      Subject
        to Sections 5.1 and 5.2, the execution of any instrument by a Holder or his
        agent or proxy may be proved in the following manner:

       

      (i)  The
        fact
        and date of the execution by any Holder of any instrument may be proved by
        the
        certificate of any notary public or other officer of any jurisdiction authorized
        to take acknowledgments of deeds or administer oaths that the Person executing
        such instruments acknowledged to him the execution thereof, or by an affidavit
        of a witness to such execution sworn to before any such notary or other such
        officer. Where such execution is by or on behalf of any legal entity other
        than
        an individual, such certificate or affidavit shall also constitute sufficient
        proof of the authority of the Person executing the same. The fact of the
        holding
        by any Holder of a Note, and the identifying number of such Note and the
        date of
        his holding the same, may be proved by the production of such Note or by
        a
        certificate executed by any trust company, bank, banker or recognized securities
        dealer wherever situated satisfactory to the Trustee, if such certificate
        shall
        be deemed by the Trustee to be satisfactory. Each such certificate shall
        be
        dated and shall state that on the date thereof a Note bearing a specified
        identifying number was deposited with or exhibited to such trust company,
        bank,
        banker or recognized securities dealer by the Person named in such certificate.
        Any such certificate may be issued in respect of one or more Notes specified
        therein. The holding by the Person named in any such certificate of any Notes
        specified therein shall be presumed to continue for a period of one year
        from
        the date of such certificate unless at the time of any determination of such
        holding (1) another certificate bearing a later date issued in respect of
        the
        same Notes shall be produced, or (2) the Note specified in such certificate
        shall be produced by some other Person, or (3) the Note specified in such
        certificate shall have ceased to be Outstanding. The fact and date of the
        execution of any such instrument and the amount and numbers of Notes held
        by the
        Person so executing such instrument and the amount and numbers of any Note
        or
        Notes may also be proven in accordance with such reasonable rules and
        regulations as may be prescribed by the Trustee for such series or in any
        other
        manner which the Trustee for such series may deem sufficient.

       

      (ii)  The
        ownership of Notes shall be proved by the Security Register or by a certificate
        of the Registrar.

       

      
        
          
          

        

        
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                Section
                  6.3  

              	
                Holders
                  to be Treated as
                  Owners.

              

      

       

      The
        Issuer, the Trustee and any agent of the Issuer or the Trustee may deem and
        treat the Person in whose name any Note shall be registered upon the Note
        register as the absolute owner of such Note (whether or not such Note shall
        be
        overdue and notwithstanding any notation of ownership or other writing thereon)
        for the purpose of receiving payment of or on account of the principal of
        and,
        subject to the provisions of this Indenture, interest on such Note and for
        all
        other purposes; and neither the Issuer nor the Trustee nor any agent of the
        Issuer or the Trustee shall be affected by any notice to the contrary. The
        Issuer, the Trustee and any agent of the Issuer or the Trustee may treat
        the
        Holder of any Note as the absolute owner of such Note for the purpose of
        receiving payment thereof or on account thereof and for all other purposes
        and
        neither the Issuer, the Trustee, nor any agent of the Issuer or the Trustee
        shall be affected by any notice to the contrary. All such payments so made
        to
        any such Person, or upon his order, shall be valid, and, to the extent of
        the
        sum or sums so paid, effectual to satisfy and discharge the liability for
        moneys
        payable upon any such Note.

       

      
        	
                Section
                  6.4  

              	
                Notes
                  Owned by Issuer Deemed Not
                  Outstanding.

              

      

       

      In
        determining whether the Holders of the requisite aggregate principal amount
        of
        Outstanding Notes have concurred in any direction, consent or waiver under
        this
        Indenture, Notes which are owned by the Issuer or any other obligor on the
        Notes
        with respect to which such determination is being made or by any Person directly
        or indirectly controlling or controlled by or under direct or indirect common
        control with the Issuer or any other obligor on the Notes with respect to
        which
        such determination is being made shall be disregarded and deemed not to be
        Outstanding for the purpose of any such determination, except that for the
        purpose of determining whether the Trustee shall be protected in relying
        on any
        such direction, consent or waiver only Notes which the Trustee knows are
        so
        owned shall be so disregarded. Notes so owned which have been pledged in
        good
        faith may be regarded as Outstanding if the pledgee establishes to the
        satisfaction of the Trustee the pledgee’s right so to act with respect to such
        Notes and that the pledgee is not the Issuer or any other obligor upon the
        Notes
        or any Person directly or indirectly controlling or controlled by or under
        direct or indirect common control with the Issuer or any other obligor on
        the
        Notes. In case of a dispute as to such right, the advice of counsel shall
        be
        full protection in respect of any decision made by the Trustee in accordance
        with such advice. Upon request of the Trustee, the Issuer shall furnish to
        the
        Trustee promptly an Officers’ Certificate listing and identifying all Notes, if
        any, known by the Issuer to be owned or held by or for the account of any
        of the
        above-described Persons; and, subject to Sections 5.1 and 5.2, the Trustee
        shall
        be entitled to accept such Officers’ Certificate as conclusive evidence of the
        facts therein set forth and of the fact that all Notes not listed therein
        are
        Outstanding for the purpose of any such determination.

       

      
        
          
          

        

        
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                Section
                  6.5  

              	
                Right
                  of Revocation of Action
                  Taken.

              

      

       

      At
        any
        time prior to (but not after) the evidencing to the Trustee, as provided
        in
        Section 6.1, of the taking of any action by the Holders of the percentage
        in
        aggregate principal amount of the Notes specified in this Indenture in
        connection with such action, any Holder the serial number of which is shown
        by
        the evidence to be included among the serial numbers of the Notes the Holders
        of
        which have consented to such action may, by filing written notice at the
        Corporate Trust Office and upon proof of holding as provided in this Article,
        revoke such action so far as concerns such Note. Except as aforesaid any
        such
        action taken by the Holder of any Note shall be conclusive and binding upon
        such
        Holder and upon all future Holders and owners of such Note and of any Notes
        issued in exchange or substitution therefor or on registration of transfer
        thereof, irrespective of whether or not any notation in regard thereto is
        made
        upon any such Note. Any action taken by the Holders of the percentage in
        aggregate principal amount of the Notes specified in this Indenture in
        connection with such action shall be conclusively binding upon the Issuer,
        the
        Trustee and the Holders of all the Notes affected by such action.

       

      
        
          
          

        

        
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      ARTICLE
        SEVEN

       

      AMENDMENTS

       

      
        	
                Section
                  7.1  

              	
                Amendments
                  and Supplements Without Consent of
                  Holders.

              

      

       

      The
        Issuer, when authorized by a resolution of its Board of Directors (which
        resolution may provide general terms or parameters for such action and may
        provide that the specific terms of such action may be determined in accordance
        with or pursuant to an Officers’ Certificate), and the Trustee may from time to
        time and at any time enter into an amend or supplement this Indenture for
        one or
        more of the following purposes:

       

      (a)  to
        convey, transfer, assign, mortgage or pledge to the Trustee as security for
        the
        Notes any property or assets;

       

      (b)  to
        evidence the succession of another Person to the Issuer, or successive
        successions, and the assumption by the successor Person of the covenants,
        agreements and obligations of the Issuer pursuant to Article Eight;

       

      (c)  to
        add to
        the covenants of the Issuer such further covenants, restrictions, conditions
        or
        provisions as the Issuer and the Trustee shall consider to be for the protection
        of the Holders of Notes and to make the occurrence, or the occurrence and
        continuance, of a default in any such additional covenants, restrictions,
        conditions or provisions an Event of Default permitting the enforcement of
        all
        or any of the several remedies provided in this Indenture as herein set forth;
        provided, that in respect of any such additional covenant, restriction,
        condition or provision such supplemental indenture may provide for a particular
        period of grace after default (which period may be shorter or longer than
        that
        allowed in the case of other defaults) or may provide for an immediate
        enforcement upon such an Event of Default or may limit the remedies available
        to
        the Trustee upon such an Event of Default or may limit the right of the Holders
        of a majority in aggregate principal amount of the Notes to waive such an
        Event
        of Default;

       

      (d)  to
        cure
        any ambiguity or to correct or supplement any provision contained herein
        or in
        any supplemental indenture which may be defective or inconsistent with any
        other
        provision contained herein or in any supplemental indenture, or to make any
        other provisions as the Issuer may deem necessary or desirable, provided
        that no
        such action shall materially adversely affect the interests of the Holders
        of
        the Notes;

       

      (e)  to
        establish the form or terms of the Notes or Additional Notes; and

       

      (f)  to
        evidence and provide for the acceptance of appointment hereunder by a successor
        trustee with respect to the Notes and to add to or change any of the provisions
        of this Indenture as shall be necessary to provide for or facilitate the
        administration of the trusts hereunder by more than one trustee, pursuant
        to the
        requirements of Section 5.10.

       

      The
        Trustee is hereby authorized to join with the Issuer in the execution of
        any
        such amendment or supplement, to make any further appropriate agreements
        and
        stipulations which may be therein contained and to accept the conveyance,
        transfer, assignment, mortgage or pledge of any property thereunder, but
        the
        Trustee shall not be obligated to enter into any such amendment or supplement
        that affects the Trustee’s own rights, duties or immunities under this Indenture
        or otherwise.

       

      
        
          
          

        

        
          51

          
            

          

        

        
          
          

        

      

      Any
        amendment or supplement authorized by the provisions of this Section may
        be
        executed without the consent of the Holders of any of the Notes at the time
        Outstanding, notwithstanding any of the provisions of Section 7.2.

       

      
        	
                Section
                  7.2  

              	
                Amendments
                  and Supplements With Consent of
                  Holders

              

      

       

      With
        the
        consent (evidenced as provided in Article Six) of the Holders of not less
        than a
        majority in aggregate principal amount of the Notes at the time Outstanding
        affected by such amendment or supplement, the Issuer, when authorized by
        a
        resolution of its Board of Directors (which resolution may provide general
        terms
        or parameters for such action and may provide that the specific terms of
        such
        action may be determined in accordance with or pursuant to an Issuer Order),
        and
        the Trustee may, from time to time and at any time, amendment or supplement
        this
        Indenture for the purpose of adding any provisions to or changing in any
        manner
        or eliminating any of the provisions of this Indenture or of any amendment
        or
        supplement hereto or of modifying in any manner the rights of the Holders
        of the
        Notes; provided, that no such amendment or supplement shall (a) extend the
        final
        maturity of any Note, or reduce the principal amount thereof, or reduce the
        rate
        or extend the time of payment of interest thereon, or reduce any amount payable
        on redemption thereof, or make the principal thereof or interest thereon
        payable
        in any coin or currency other than that provided in the Notes that would
        be due
        and payable upon an acceleration of the maturity thereof pursuant to Section
        4.1
        or the amount thereof provable in bankruptcy pursuant to Section 4.2 or impair
        or affect the right of any Holder to institute suit for the payment thereof
        or,
        if the Notes provide therefor, any right of repayment at the option of the
        Holder, in each case without the consent of the Holder of each Note so affected,
        or (b) reduce the aforesaid percentage of Notes of any series, the consent
        of
        the Holders of which is required for any such amendment or supplement, without
        the consent of the Holders of each Note so affected.

       

      Upon
        the
        request of the Issuer, accompanied by a copy of a resolution of the Board
        of
        Directors (which resolution may provide general terms or parameters for such
        action and may provide that the specific terms of such action may be determined
        in accordance with or pursuant to an Issuer Order) certified by the secretary
        or
        an assistant secretary of the general partner of the Issuer authorizing the
        execution of any such amendment or supplement, and upon the filing with the
        Trustee of evidence of the consent of the Holders of the Notes as aforesaid
        and
        other documents, if any, required by Section 6.1, the Trustee shall join
        with
        the Issuer in the execution of such amendment or supplement unless such
        amendment or supplement affects the Trustee’s own rights, duties or immunities
        under this Indenture or otherwise, in which case the Trustee may in its
        discretion, but shall not be obligated to, enter into such amendment or
        supplement.

       

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

       

      
        
          
          

        

        
          52

          
            

          

        

        
          
          

        

      

      Promptly
        after the execution by the Issuer and the Trustee of any amendment or supplement
        pursuant to the provisions of this Section, the Trustee shall give notice
        thereof to the Holders of then Outstanding Registered Notes by mailing a
        notice
        thereof by first-class mail to such Holders at their addresses as they shall
        appear on the Note register, and in each case such notice shall set forth
        in
        general terms the substance of such amendment or supplement. Any failure
        of the
        Issuer to give such notice, or any defect therein, shall not, however, in
        any
        way impair or affect the validity of any such amendment or
        supplement.

       

      
        	
                Section
                  7.3  

              	
                Effect
                  of Amendment or Supplement to this
                  Indenture.

              

      

       

      Upon
        the
        execution of any amendment or supplement pursuant to the provisions hereof,
        this
        Indenture shall be and be deemed to be modified and amended in accordance
        therewith and the respective rights, limitations of rights, obligations,
        duties
        and immunities under this Indenture of the Trustee, the Issuer and the Holders
        of Notes affected thereby shall thereafter be determined, exercised and enforced
        hereunder subject in all respects to such modifications and amendments, and
        all
        the terms and conditions of any such amendment or supplement shall be and
        be
        deemed to be part of the terms and conditions of this Indenture for any and
        all
        purposes.

       

      
        	
                Section
                  7.4  

              	
                Documents
                  to Be Given to
                  Trustee.

              

      

       

      The
        Trustee, subject to the provisions of Sections 5.1 and 5.2, shall be provided
        with an Officers’ Certificate and an Opinion of Counsel as conclusive evidence
        that any amendment or supplement to this Indenture executed pursuant to this
        Article complies with the applicable provisions of this Indenture and is
        authorized or permitted under this Indenture.

       

      
        	
                Section
                  7.5  

              	
                Notation
                  on Notes in Respect of Amendments and
                  Supplements.

              

      

       

      Notes
        authenticated and delivered after the execution of any amendment or supplement
        to this Indenture pursuant to the provisions of this Article may bear a notation
        in form approved by the Trustee as to any matter provided for by such amendment
        or supplement or as to any action taken by Holders. If the Issuer or the
        Trustee
        shall so determine, new Notes so modified as to conform, in the opinion of
        the
        Trustee and the Board of Directors, to any modification of this Indenture
        contained in any such amendment or supplement may be prepared by the Issuer,
        authenticated by the Trustee and delivered in exchange for the Notes then
        Outstanding.

       

      ARTICLE
        EIGHT

       

      SUCCESSORS

       

      
        	
                Section
                  8.1  

              	
                Merger,
                  Consolidation or Sale of Assets of the
                  Issuer.

              

      

       

      The
        Issuer shall not consolidate with or merge into any other Person or convey,
        transfer or lease its properties and assets substantially as an entirety
        to any
        Person, unless:

       

      (i)  the
        Person formed by such consolidation or into which the Issuer is merged or
        the
        Person which acquires by conveyance, transfer or lease the properties and
        assets
        of the Issuer substantially as an entirety shall expressly assume, by a
        supplemental indenture hereto, executed and delivered to the Trustee, in
        form
        satisfactory to the Trustee, the due and punctual payment of the principal
        of
        and interest on all the Notes according to their tenor, and the performance
        of
        every covenant of this Indenture on the part of the Issuer to be performed
        or
        observed;

       

      
        
          
          

        

        
          53

          
            

          

        

        
          
          

        

      

      (ii)  immediately
        after giving effect to such transaction, no Event of Default, and no event
        which, after notice or lapse of time, or both, would become an Event of Default,
        shall have happened and be continuing; and

       

      (iii)  the
        Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of
        Counsel each stating that such consolidation, merger, conveyance, transfer
        or
        lease and such supplemental indenture comply with this Article and that all
        conditions precedent herein provided for relating to such transaction have
        been
        complied with.

       

      
        	
                Section
                  8.2  

              	
                Successor
                  Person Substituted.

              

      

       

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

       

      In
        case
        of any such consolidation, merger, sale, lease or conveyance such changes
        in
        phrasing and form (but not in substance) may be made in the Notes thereafter
        to
        be issued as may be appropriate.

       

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

       

      
        
          
          

        

        
          54

          
            

          

        

        
          
          

        

      

      ARTICLE
        NINE

       

      SATISFACTION
        AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS

       

      
        	
                Section
                  9.1  

              	
                Satisfaction
                  and Discharge of
                  Indenture.

              

      

       

      (a)  If
        at any
        time (a) the Issuer shall have paid or caused to be paid the principal of
        and
        interest on all the Notes Outstanding hereunder (other than Notes which have
        been destroyed, lost or stolen and which have been replaced or paid as provided
        in Section 2.7) as and when the same shall have become due and payable, or
        (b)
        the Issuer shall have delivered to the Trustee for cancellation all Notes
        theretofore authenticated (other than any Notes which shall have been destroyed,
        lost or stolen and which shall have been replaced or paid as provided in
        Section
        2.7) or (c) in the case of Notes where the exact or maximum amount of principal
        of and interest due on which can be determined at the time of making the
        deposit
        referred to in clause (ii) below, (i) all the Notes not theretofore delivered
        to
        the Trustee for cancellation shall have become due and payable, or are by
        their
        terms to become due and payable within one year or are to be called for
        redemption within one year under arrangements satisfactory to the Trustee
        for
        the giving of notice of redemption, and (ii) the Issuer shall have irrevocably
        deposited or caused to be deposited with the Trustee as trust funds the entire
        amount in cash (other than moneys repaid by the Trustee or any paying agent
        to
        the Issuer in accordance with Section 9.4), or, direct obligations of the
        United
        States of America, backed by its full faith and credit (“U.S. Government
        Obligations”), maturing as to principal and interest at such times and in such
        amounts as will insure the availability of cash, or 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 (A) the principal of and interest on all Notes on each date
        that
        such principal or interest is due and payable and (B) any mandatory sinking
        fund
        payments applicable to Notes of such Series on the dates on which such payments
        are due and payable in accordance with the terms of the Indenture and the
        Notes;
        and if, in any such case, the Issuer shall also pay or cause to be paid all
        other sums payable hereunder by the Issuer with respect to the Notes, then
        this
        Indenture with respect to the Notes shall cease to be of further effect (except
        as to (i) rights of registration of transfer and exchange of Notes and the
        Issuer’s right of optional redemption, if any, (ii) substitution of mutilated,
        defaced, destroyed, lost or stolen Notes, (iii) rights of Holders of Notes
        to
        receive payments of principal thereof and interest thereon, upon the original
        stated due dates therefor (but not upon acceleration), and remaining rights
        of
        the Holders to receive mandatory sinking fund payments, if any, (iv) the
        rights,
        obligations, duties and immunities of the Trustee hereunder, and (v) the
        rights
        of the Holders of Notes as beneficiaries hereof with respect to the property
        so
        deposited with the Trustee payable to all or any of them) and the Trustee,
        on
        demand of the Issuer accompanied by an Officers’ Certificate and an Opinion of
        Counsel and at the cost and expense of the Issuer, shall execute proper
        instruments acknowledging such satisfaction of and discharging this Indenture
        with respect to the Notes; provided, that the rights of Holders of the Notes
        to
        receive amounts in respect of principal of and interest on the Notes held
        by
        them shall not be delayed longer than required by then-applicable mandatory
        rules or policies of any securities exchange upon which the Notes are listed.
        The Issuer agrees to reimburse the Trustee for any costs or expenses thereafter
        reasonably and properly incurred and to compensate the Trustee for any services
        thereafter reasonably and properly rendered by the Trustee in connection
        with
        this Indenture or the Notes.

       

      (b)  The
        following provisions shall apply to the Notes unless specifically otherwise
        provided in a Board Resolution, Officers’ Certificate or indenture supplemental
        hereto provided pursuant to Section 2.15. In addition to discharge of the
        Indenture pursuant to the next preceding paragraph, in the case of Notes
        the
        exact or maximum amounts (including the currency of payment) of principal
        of and
        interest due on which can be determined at the time of making the deposit
        referred to in clause (a) below, the Issuer shall be deemed to have paid
        and
        discharged the entire indebtedness on all the Notes on the 91st day after
        the
        date of the deposit referred to in subparagraph (a) below, and the provisions
        of
        this Indenture with respect to the Notes shall no longer be in effect (except
        as
        to (i) rights of registration of transfer and exchange of Notes and the Issuer’s
        right of optional redemption, if any, (ii) substitution of mutilated, defaced,
        destroyed, lost or stolen Notes, (iii) rights of Holders of Notes to receive
        payments of principal thereof and interest thereon, upon the original stated
        due
        dates therefor (but not upon acceleration), and remaining rights of the Holders
        to receive mandatory sinking fund payments, if any, (iv) the rights,
        obligations, duties and immunities of the Trustee hereunder, and (v) the
        rights
        of the Holders of Notes as beneficiaries hereof with respect to the property
        so
        deposited with the Trustee payable to all or any of them) and the Trustee,
        at
        the expense of the Issuer, shall at the Issuer’s request, execute proper
        instruments acknowledging the same, if

       

      
        
          
          

        

        
          55

          
            

          

        

        
          
          

        

      

      (i)  with
        reference to this provision the Issuer has irrevocably deposited or caused
        to be
        irrevocably deposited with the Trustee as trust funds in trust, specifically
        pledged as security for, and dedicated solely to, the benefit of the Holders
        of
        the Notes (i) cash in an amount, or (ii) U.S. Government Obligations, maturing
        as to principal and interest at such times and in such amounts as will insure
        the availability of cash or (iii) 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
        (A) the principal of and interest on all Notes on each date that such principal
        or interest is due and payable and (B) any mandatory sinking fund payments
        on
        the dates on which such payments are due and payable in accordance with the
        terms of the Indenture and the Notes;

       

      (ii)  such
        deposit will not result in a breach or violation of, or constitute a default
        under, any agreement or instrument (other than this Indenture) to which the
        Issuer is a party or by which it is bound;

       

      (iii)  the
        Issuer has delivered to the Trustee an Opinion of Counsel based on the fact
        that
        (x) the Issuer has received from, or there has been published by, the Internal
        Revenue Service a ruling or (y) since the date hereof, there has been a change
        in the applicable Federal income tax law, in either case to the effect that,
        and
        such opinion shall confirm that, the Holders of the Notes will not recognize
        income, gain or loss for Federal income tax purposes as a result of such
        deposit, defeasance and discharge 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 deposit, defeasance and discharge had not
        occurred;

       

      (iv)  the
        Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of
        Counsel, each stating that all conditions precedent provided for relating
        to the
        defeasance contemplated by this provision have been complied with;
        and

       

      (v)  no
        Event
        of Default or event which with notice or lapse of time or both would become
        an
        Event of Default with respect to the Notes shall have occurred and be continuing
        on the date of such deposit or, insofar as subsections 4.1(d) and (e) are
        concerned, at any time during the period ending on the 91st day after the
        date
        of such deposit, other than an Event of Default or such event resulting from
        the
        borrowing of funds to be applied to such deposit.

       

      
        
          
          

        

        
          56

          
            

          

        

        
          
          

        

      

      (c)  The
        following provisions shall apply to the Notes of each series unless specifically
        otherwise provided in a Board Resolution, Officers’ Certificate or indenture
        supplemental hereto provided pursuant to Section 2.15. In the case of Notes
        the
        exact or maximum amounts (including the currency of payment) of principal
        of and
        interest due on the Notes can be determined at the time of making the deposit
        referred to in clause (a) below, the Issuer shall be released from its
        obligations under Sections 3.6, 3.7 and 8.1 with respect to the Outstanding
        Notes on and after the date the conditions set forth below are satisfied
        (hereinafter, “covenant defeasance”). For this purpose, such covenant defeasance
        means that, with respect to the Outstanding Notes, the Issuer may omit to
        comply
        with and shall have no liability in respect of any term, condition or limitation
        set forth in such Sections, whether directly or indirectly by reason of any
        reference elsewhere herein to such Sections or by reason of any reference
        in
        such Sections to any other provision herein or in any other document and
        such
        omission to comply shall not constitute an Event of Default under Section
        4. 1,
        but the remainder of this Indenture and such Notes shall be unaffected thereby.
        The following shall be the conditions to application of this subsection (c)
        of
        this Section 9.1:

       

      (i)  The
        Issuer has irrevocably deposited or caused to be deposited with the Trustee
        as
        trust funds in trust for the purpose of making the following payments,
        specifically pledged as security for, and dedicated solely to, the benefit
        of
        the Holders of the Notes, (i) cash in an amount, or (ii) U.S. Government
        Obligations maturing as to principal and interest at such times and in such
        amounts as will insure the availability of cash or (iii) 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 (A) the principal of and interest on all Notes on each date
        that
        such principal and interest is due and payable and (B) any mandatory sinking
        fund payments applicable to such Notes on the day on which such payments
        are due
        and payable in accordance with the terms of the Indenture and the
        Notes;

       

      (ii)  No
        Event
        of Default or event which with notice or lapse of time or both would become
        an
        Event of Default with respect to the Notes shall have occurred and be continuing
        on the date of such deposit or, insofar as subsections 4.1(d) and (e) are
        concerned, at any time during the period ending on the 91st day after the
        date
        of such deposit, other than an Event of Default or such event resulting from
        the
        borrowing of funds to be applied to such deposit;

       

      (iii)  Such
        covenant defeasance shall not result in a breach or violation of, or constitute
        a default under any agreement or instrument (other than this Indenture) to
        which
        the Issuer is a party or by which it is bound;

       

      (iv)  The
        Issuer shall have delivered to the Trustee an Officers’ Certificate and Opinion
        of Counsel to the effect that the Holders of the Notes will not recognize
        income, gain or loss for federal income tax purposes as a result of such
        covenant defeasance and will be subject to federal income tax on the same
        amounts, in the same manner and at the same times as would have been the
        case if
        such covenant defeasance had not occurred and

       

      (v)  The
        Issuer shall have delivered to the Trustee an Officers’ Certificate and an
        Opinion of Counsel, each stating that all conditions precedent provided for
        relating to the covenant defeasance contemplated by this provision have been
        complied with.

       

      
        
          
          

        

        
          57

          
            

          

        

        
          
          

        

      

      
        	
                Section
                  9.2  

              	
                Application
                  by Trustee of Funds Deposited for Payment of
                  Notes.

              

      

       

      Subject
        to Section 9.4, all moneys deposited with the Trustee (or other trustee)
        pursuant to Section 9.1 shall be held in trust and applied by it to the payment,
        either directly or through any paying agent (including the Issuer acting
        as its
        own paying agent), to the Holders of the particular Notes for the payment
        or
        redemption of which such moneys have been deposited with the Trustee, of
        all
        sums due and to become due thereon for principal and interest; but such money
        need not be segregated from other funds except to the extent required by
        law.

       

      
        	
                Section
                  9.3  

              	
                Repayment
                  of Moneys Held by Paying
                  Agent.

              

      

       

      In
        connection with the satisfaction and discharge of this Indenture with respect
        to
        Notes, all moneys then held by any paying agent under the provisions of this
        Indenture with respect to the Notes shall, upon demand of the Issuer, be
        repaid
        to it or paid to the Trustee and thereupon such paying agent shall be released
        from all further liability with respect to such moneys.

       

      
        	
                Section
                  9.4  

              	
                Return
                  of Moneys Held by Trustee and Paving Agent Unclaimed for Two
                  Years.

              

      

       

      Any
        moneys deposited with or paid to the Trustee or any paying agent for the
        payment
        of the principal of or interest on any Note and not applied but remaining
        unclaimed for two years after the date upon which such principal or interest
        shall have become due and payable, shall, upon the written request of the
        Issuer
        and unless otherwise required by mandatory provisions of applicable escheat
        or
        abandoned or unclaimed property law, be repaid to the Issuer by the Trustee
        or
        such paying agent, and the Holder of the Notes shall, unless otherwise required
        by mandatory provisions of applicable escheat or abandoned or unclaimed property
        laws, thereafter look only to the Issuer for any payment which such Holder
        may
        be entitled to collect, and all liability of the Trustee or any paying agent
        with respect to such moneys shall thereupon cease; provided, however, that
        the
        Trustee or such paying agent, before being required to make any such repayment
        with respect to moneys deposited with it for any payment  in respect
        of Registered Notes of any series, shall at the expense of the Issuer, mail
        by
        first-class mail to Holders of such Notes at their addresses as they shall
        appear on the Note register, notice, that such moneys remain 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 money then remaining
        will be repaid to the Issuer.

       

      
        	
                Section
                  9.5  

              	
                Indemnity
                  for U.S. Government
                  Obligations.

              

      

       

      The
        Issuer shall pay and indemnify the Trustee against any tax, fee or other
        charge
        imposed on or assessed against the U.S. Government Obligations deposited
        pursuant to Section 9.1 or the principal or interest received in respect
        of such
        obligations.

       

      
        
          
          

        

        
          58

          
            

          

        

        
          
          

        

      

      
        	
                Section
                  9.6  

              	
                Excess
                  Funds.

              

      

       

      The
        Trustee shall deliver to the Issuer from time to time upon Issuer Order any
        U.S.
        Government Obligations or money held by it as provided in Section 9.1 which,
        as
        expressed in the opinion of a nationally recognized firm of independent public
        accountants expressed in a written certification thereof delivered to the
        Trustee (which may include the applicable opinion delivered to the Trustee
        pursuant to Section 9.1), are then in excess of the amount thereof which
        then
        would have been required to be deposited for the purpose for which such
        obligations or money were deposited or received.

       

      ARTICLE
        TEN

       

      MISCELLANEOUS
        PROVISIONS

       

      
        	
                Section
                  10.1  

              	
                Incorporators,
                  Sponsors, Members, Partners, Holders of Equity Interests, Officers
                  and
                  Directors of Issuer Exempt from Individual
                  Liability.

              

      

       

      No
        recourse under or upon any obligation, covenant or agreement contained in
        this
        Indenture, or in any Note, or because of any indebtedness evidenced thereby,
        shall be had against any future director, officer, employee, incorporator
        or
        sponsor, partner or holder of equity interest of the Issuer, as such, or
        of any
        successor, either directly or through the Issuer, the general partner of
        the
        Issuer, or any successor, under any rule of law, statute or constitutional
        provision or by the enforcement of any assessment or by any legal or equitable
        proceeding or otherwise, all such liability being expressly waived and released
        by the acceptance of the Notes by the Holders thereof and as part of the
        consideration for the issue of the Notes.

       

      
        	
                Section
                  10.2  

              	
                Provisions
                  of Indenture for the Sole Benefit of Parties and Holders of
                  Notes.

              

      

       

      Nothing
        in this Indenture or in the Notes, expressed or implied, shall give or be
        construed to give to any Person, other than the parties hereto and their
        successors and the Holders of the Notes, any legal or equitable right, remedy
        or
        claim under this Indenture or under any covenant or provision herein contained,
        all such covenants and provisions being for the sole benefit of the parties
        hereto and their successors and of the Holders of the Notes.

       

      
        	
                Section
                  10.3  

              	
                Successors
                  and Assigns of Issuer Bound by
                  Indenture.

              

      

       

      All
        the
        covenants, stipulations, promises and agreements in this Indenture contained
        by
        or in behalf of the Issuer shall bind its successors and assigns, whether
        so
        expressed or not.

       

      
        	
                Section
                  10.4  

              	
                Notices
                  and Demands on Issuer, Trustee and Holders of
                  Notes 

              

      

       

      Any
        notice or communication by the Issuer or the Trustee to the other is duly
        given
        if in writing and delivered in person or mailed by first class mail (registered
        or certified, return receipt requested), facsimile transmission or overnight
        air
        courier guaranteeing next-day delivery, to the other’s address:

       

      
        
          
          

        

        
          59

          
            

          

        

        
          
          

        

      

      If
        to the
        Issuer:

      

      Gulf
        South Pipeline Company, LP

      3800
        Frederica Street

      Ownesboro,
        KY  42301

      Attn:
        Jamie Buskill, Chief Financial Officer

      Facsimile
        No.: (270) 668-6392

      

      If
        to the
        Trustee:

      

      The
        Bank
        of New York Trust Company, N.A.

      2
        North
        LaSalle St., Suite 1020

      Chicago,
        IL  60602

      Attn:
        Corporate Trust Administration

      Facsimile
        No.: (312) 827-8542

      

      The
        Issuer or the Trustee, by notice to the other, may designate additional or
        different addresses for subsequent notices or communications.

       

      All
        notices and communications (other than those sent to the Trustee or Holder)
        shall be deemed to have been duly given: at the time delivered by hand, if
        personally delivered; five Business Days after being deposited in the mail,
        postage prepaid, if mailed; when receipt acknowledged, if sent by facsimile
        transmission; and the next Business Day after timely delivery to the courier,
        if
        sent by overnight air courier guaranteeing next-day delivery. All notices
        and
        communications to the Trustee or Holder shall be deemed duly given and effective
        only upon receipt.

       

      Any
        notice or communication to a Holder shall be mailed by first class mail,
        certified or registered, return receipt requested, or by overnight air courier
        guaranteeing next-day delivery to its address shown on the Security Register.
        Any notice or communication shall also be so mailed to any Person described
        in
        Trust Indenture Act of 1939 § 313(c), to the extent required by the Trust
        Indenture Act of 1939. Failure to mail a notice or communication to a Holder
        or
        any defect in it shall not affect its sufficiency with respect to other
        Holders.

       

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

       

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

       

      
        	
                Section
                  10.5  

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

              

      

       

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

       

      
        
          
          

        

        
          60

          
            

          

        

        
          
          

        

      

      Each
        certificate or opinion provided for in this Indenture and delivered to the
        Trustee with respect to compliance with a condition or covenant provided
        for in
        this Indenture shall include (a) a statement that the person making such
        certificate or opinion has read such covenant or condition, (b) a brief
        statement as to the nature and scope of the examination or investigation
        upon
        which the statements or opinions contained in such certificate or opinion
        are
        based, (c) a statement that, in the opinion of such person, he has made such
        examination or investigation as is necessary to enable him to express an
        opinion
        as to whether or not such covenant or condition has been complied with and
        (d) a
        statement as to whether or not, in the opinion of such person, such condition
        or
        covenant has been complied with.

       

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

       

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

       

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

       

      
        	
                Section
                  10.6  

              	
                Payments
                  Due on Saturdays, Sundays and
                  Holidays.

              

      

       

      If
        the
        date of maturity of interest on or principal of the Notes or the date fixed
        for
        redemption or repayment of any such Note shall not be a Business Day, then
        payment of interest or principal need not be made on such date, but may be
        made
        on the next succeeding Business Day with the same force and effect as if
        made on
        the date of maturity or the date fixed for redemption or repayment, and no
        interest shall accrue for the period after such date.

       

      
        
          
          

        

        
          61

          
            

          

        

        
          
          

        

      

      
        	
                Section
                  10.7  

              	
                Conflict
                  of Any Provision of Indenture with Trust Indenture Act of
                  1939

              

      

       

      If
        and to
        the extent that any provision of this Indenture limits, qualifies or conflicts
        with another provision included in this Indenture by operation of §§ 310 to 317,
        inclusive, of the Trust Indenture Act of 1939 (an “incorporated provision”),
        such incorporated provision shall control.

       

      
        	
                Section
                  10.8  

              	
                New
                  York Law to Govern.

              

      

       

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

       

      
        	
                Section
                  10.9  

              	
                Counterparts.

              

      

       

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

       

      
        	
                Section
                  10.10  

              	
                Effect
                  of Headings.

              

      

       

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

       

      
        	
                Section
                  10.11  

              	
                Waiver
                  of Jury
                  Trial. 

              

      

       

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

       

      
        	
                Section
                  10.12  

              	
                Force
                  Majeure. 

              

      

       

      In
        no
        event shall the Trustee be responsible or liable for any failure or delay
        in the
        performance of its obligations hereunder arising out of or caused by, directly
        or indirectly, forces beyond its control, including, without limitation,
        strikes, work stoppages, accidents, acts of war or terrorism, civil or military
        disturbances, nuclear or natural catastrophes or acts of God, and interruptions,
        loss or malfunctions of utilities, communications or computer (software and
        hardware) services; it being understood that the Trustee shall use reasonable
        efforts which are consistent with accepted practices in the banking industry
        to
        resume performance as soon as practicable under the circumstances.

       

      
        
          
          

        

        
          62

          
            

          

        

        
          
          

        

      

      ARTICLE
        ELEVEN

       

      REDEMPTION
        AND PREPAYMENT

       

      
        	
                Section
                  11.1  

              	
                Notices
                  to Trustee.

              

      

       

      If
        the
        Issuer elects to redeem Notes pursuant to the optional redemption provisions
        of
        Section 11.7 hereof, it shall furnish to the Trustee, at least 45 days but
        not
        more than 60 days before a redemption date (or such shorter period as allowed
        by
        the Trustee), an Officers’ Certificate setting forth (i) the applicable section
        of this Indenture pursuant to which the redemption shall occur, (ii) the
        redemption date, (iii) the principal amount of Notes to be redeemed and (iv)
        the
        redemption price.

       

      
        	
                Section
                  11.2  

              	
                Selection
                  of Notes to Be
                  Redeemed.

              

      

       

      If
        less
        than all of the Notes are to be redeemed at any time, the Trustee shall select
        the Notes to be redeemed among the Holders of the Notes in compliance with
        the
        requirements of the principal national securities exchange, if any, on which
        the
        Notes are listed or, if the Notes are not so listed, on a pro rata basis,
        by lot
        or in accordance with any other method the Trustee deems fair and appropriate
        (and in compliance with applicable legal requirements). However, no Notes
        of a
        principal amount of $1,000 or less shall be redeemed in part, and, if a partial
        redemption of Notes is made with the proceeds of a public offering of common
        equity securities of the Issuer, selection of the Notes or portions of the
        Notes
        for redemption shall be made by the Trustee only on a proportional basis
        or on
        as nearly a proportional basis as is practicable (except as required by the
        procedures of DTC), unless that method is otherwise prohibited. In the event
        of
        partial redemption by lot, the particular Notes to be redeemed shall be
        selected, unless otherwise provided herein, not less than 30 nor more than
        60
        days prior to the redemption date by the Trustee from the Outstanding Notes
        not
        previously called for redemption.

       

      The
        Trustee shall promptly notify the Issuer in writing of the Notes selected
        for
        redemption and, in the case of any Note selected for partial redemption,
        the
        principal amount thereof to be redeemed. Notes and portions of Notes selected
        shall be in amounts of $2,000 or integral multiples of $1,000, except that
        if
        all of the Notes of a Holder are to be redeemed, the entire Outstanding amount
        of Notes held by such Holder, even if not an integral multiple of $1,000,
        shall
        be redeemed. Except as provided in the preceding sentence, provisions of
        this
        Indenture that apply to Notes called for redemption also apply to portions
        of
        Notes called for redemption.

       

      
        	
                Section
                  11.3  

              	
                Notice
                  of Redemption.

              

      

       

      At
        least
        30 days but not more than 60 days prior to a redemption date, the Issuer
        shall
        mail or cause to be mailed, by first class mail, a notice of redemption to
        each
        Holder whose Notes are to be redeemed at such Holder’s address appearing in the
        securities register maintained in respect of the Notes by the Registrar (the
        “Security Register”).

       

      The
        notice shall identify the Notes to be redeemed (including the CUSIP number)
        and
        shall state:

       

      (a)  the
        redemption date;

       

      
        
          
          

        

        
          63

          
            

          

        

        
          
          

        

      

      (b)  The
        appropriate calculation of the redemption price, but need not include the
        redemption price itself. The actual redemption price, calculated as described
        above, shall be set forth in an Officers’ Certificate delivered to the Trustee
        no later than two (2) Business Days prior to the redemption date unless clause
        (b) of the definition of “Comparable Treasury Price” is applicable, in which
        case such Officer’s Certificate should be delivered on the redemption
        date;

       

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

       

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

       

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

       

      (f)  that,
        unless the Issuer defaults in making such redemption payment, interest on
        Notes
        called for redemption ceases to accrue on and after the redemption
        date;

       

      (g)  the
        applicable section of this Indenture pursuant to which the Notes called for
        redemption are being redeemed; and

       

      (h)  the
        CUSIP
        and/or ISIN numbers, if applicable.

       

      At
        the
        Issuer’s request, the Trustee shall give the notice of redemption in the
        Issuer’s name and at its expense; provided, however, that the Issuer shall have
        delivered to the Trustee, at least 15 days (or such shorter period allowed
        by
        the Trustee) prior to the date of the giving of such notice of redemption,
        an
        Officers’ Certificate requesting that the Trustee give such notice (in the name
        and at the expense of the Issuer) and setting forth the information to be
        stated
        in such notice as provided in this Section 11.3.

       

      
        	
                Section
                  11.4  

              	
                Effect
                  of Notice of
                  Redemption.

              

      

       

      Once
        notice of redemption is mailed in accordance with Section 11.3 hereof, Notes
        called for redemption shall become irrevocably due and payable on the redemption
        date at the redemption price. A notice of redemption may not be
        conditional.

       

      
        	
                Section
                  11.5  

              	
                Deposit
                  of Redemption Price.

              

      

       

      On
        or
        prior to 11:00 a.m. New York City time on the Business Day prior to any
        redemption date, the Issuer shall deposit with the Trustee or with the Paying
        Agent money sufficient to pay the redemption price of and, if applicable,
        accrued and unpaid interest on all Notes to be redeemed on that date. The
        Trustee or the Paying Agent shall promptly, and in any event within two (2)
        Business Days after the redemption date, return to the Issuer any money
        deposited with the Trustee or the Paying Agent by the Issuer in excess of
        the
        amounts necessary to pay the redemption price of, and, accrued and unpaid
        interest, if any, on all Notes to be redeemed.

       

      
        
          
          

        

        
          64

          
            

          

        

        
          
          

        

      

      If
        the
        Issuer complies with the provisions of the preceding paragraph, on and after
        the
        redemption date, interest shall cease to accrue on Notes or portions of Notes
        called for purchase or redemption in accordance with Section 2.8(d) hereof,
        whether or not such Notes are presented for payment. If a Note is redeemed
        on or
        after a Regular Record Date but on or prior to the related Interest Payment
        Date, then any accrued and unpaid interest, if any, shall be paid to the
        Person
        in whose name such Note was registered at the close of business on such Regular
        Record Date. If any Note called for redemption shall not be so paid upon
        surrender for redemption because of the failure of the Issuer to comply with
        the
        preceding paragraph, interest shall be paid on the unpaid principal from
        the
        redemption date until such principal is paid, and to the extent lawful on
        any
        interest not paid on such unpaid principal, in each case at the rate provided
        in
        the Notes and in Section 4.01 hereof.

       

      
        	
                Section
                  11.6  

              	
                Notes
                  Redeemed in Part.

              

      

       

      Upon
        surrender of a Note that is redeemed in part, the Issuer shall issue and,
        upon
        the Issuer’s written request, the Trustee shall authenticate for the Holder at
        the expense of the Issuer a new Note equal in principal amount to the unredeemed
        portion of the Note surrendered.

       

      
        	
                Section
                  11.7  

              	
                Optional
                  Redemption.

              

      

       

      (a)  The
        Notes
        will be redeemable as a whole or in part, at the option of the Issuer at
        any
        time at a redemption price determined by the Issuer equal to the greater
        of (i)
        100% of the principal amount of such Notes and (ii) the sum of the present
        values of the remaining scheduled payments of principal and interest thereon
        discounted to the redemption date on a semiannual basis (assuming a 360-day
        year
        consisting of twelve 30-day months) at the Treasury Rate, plus 20 basis points,
        plus in each case accrued interest thereon to the date of
        redemption.

       

      (b)  Any
        prepayment pursuant to this Section 11.7 shall be made pursuant to the
        provisions of Sections 11.1 through 11.6 hereof.

       

      
        	
                Section
                  11.8  

              	
                Mandatory
                  Redemption.

              

      

       

      The
        Issuer shall not be required to make mandatory redemption or sinking fund
        payments with respect to, or offers to purchase, the Notes.

       

      [Signatures
        on following page]

       

      
        
          
          

        

        
          65

          
            

          

        

        
          
          

        

      

      SIGNATURES

      

      Dated
        as
        of August 17, 2007.

       

      Issuer:

      

      GULF
        SOUTH PIPELINE COMPANY, LP

      

      

      By:
        GS
        Pipeline Company, LLC, its general partner

      

      

      By:           

      Name:

      Title:

      

      Trustee:

      

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

      as
        Trustee

      

      By:           

      Name:

      Title:

      

      

      
        
          
          

        

        
          66

          
            

          

        

        
          
          

                

                    EXHIBIT
              A-1      
    

        

      

      (Face
        of Note)

       

      

       

      5.75%
        NOTES DUE 2012

       

      

       

      CUSIP  ____________

       

      No.
        _____ $ ____________

       

      

       

      GULF
        SOUTH PIPELINE COMPANY, LP

       

      promises
        to pay to CEDE & CO., INC., or its registered assigns, the principal sum of
        U.S. Dollars ($_____________) on August 15, 2012.

       

      Interest
        Payment Dates:  February 15 and August 15, commencing February 15,
        2008

       

      Record
        Dates:  February 1 and August 1.

       

      IN
        WITNESS WHEREOF, the Issuer has caused this Note to be signed by its duly
        authorized officer.

       

      

      GULF
        SOUTH PIPELINE COMPANY, LP

      

        By:
        GS Pipeline Company, LLC, its general partner

      

      By:           

      Name:

      Title:

      

      This
        is
        one of the [Global]

      Notes
        referred to in the

      within-mentioned
        Indenture:

      

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

      as
        Trustee

      

      

      By:                                                      

      Authorized
        Signatory

      

      Dated:                                           ,
        20__

      

       

      

       

      
        
          
          

        

        
          67

          
            

          

        

        
          
          

        

      

      (Back
        of Note)

       

      

       

      5.75%
        NOTES DUE 2012

       

      [THE
        NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
        OF
        1933, AS AMENDED (THE “SECURITIES ACT”), OR OTHER SECURITIES
        LAWS.  NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
        BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
        DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS THE TRANSACTION IS
        EXEMPT
        FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
        ACT.
        THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT
        (A) IT
        IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE
        SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING ITS NOTE
        IN AN
“OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE SECURITIES
        ACT, (2) AGREES THAT IT WILL NOT PRIOR TO (X) THE DATE WHICH IS TWO YEARS
        (OR
        SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144(k) UNDER THE SECURITIES
        ACT
        OR ANY SUCCESSOR PROVISION THEREUNDER) AFTER THE LATER OF THE ORIGINAL ISSUE
        DATE HEREOF (OR OF ANY PREDECESSOR OF THIS NOTE) OR THE LAST DAY ON WHICH
        THE
        ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS NOTE (OR ANY
        PREDECESSOR OF THIS NOTE) AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED
        BY
        APPLICABLE LAW (THE “RESALE RESTRICTION TERMINATION DATE”), OFFER, SELL OR
        OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO THE ISSUER, (B) PURSUANT TO A
        REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES
        ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE
        144A,
        TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS
        DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN
        ACCOUNT
        OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN
        THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A INSIDE THE UNITED
        STATES, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE
        THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES
        ACT OR
        (E) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
        OF THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO
        WHOM
        THIS NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND;
        PROVIDED THAT THE ISSUER, THE TRUSTEE AND THE REGISTRAR SHALL HAVE THE RIGHT
        PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (I) PURSUANT TO CLAUSE (D) OR (E)
        TO
        REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER
        INFORMATION SATISFACTORY TO EACH OF THEM, AND (II) IN EACH OF THE FOREGOING
        CASES, TO REQUIRE THAT A CERTIFICATION OF TRANSFER IN THE FORM APPEARING
        ON THE
        OTHER SIDE OF THIS NOTE IS COMPLETED AND DELIVERED BY THIS TRANSFEROR TO
        THE
        TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER
        THE
        RESALE RESTRICTION TERMINATION DATE. AS USED HEREIN, THE TERMS “OFFSHORE
        TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
        BY REGULATION S UNDER THE SECURITIES ACT.]

       

      
        
          
          

        

        
          68

          
            

          

        

        
          
          

        

      

      [THIS
        GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
        THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS
        HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT
        THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT
        TO SECTION 2.6 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN
        WHOLE
        BUT NOT IN PART PURSUANT TO SECTION 2.6(a) OF THE INDENTURE, (III)THIS GLOBAL
        NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION
        2.11
        OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
        DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER.

       

      UNLESS
        AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM,
        THIS
        NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE
        OF
        THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY UNLESS THIS
        NOTE
        IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
        (55
        WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE ISSUER OR ITS AGENT FOR
        REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
        IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN
        AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
        TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE
        OF
        DTC). ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
        OR TO
        ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
        HAS AN INTEREST HEREIN.]

       

      Capitalized
        terms used herein shall have the meanings assigned to them in the Indenture
        referred to below unless otherwise indicated.

       

      1.           Interest.  Gulf
        South Pipeline Company, LP, a Delaware limited partnership (the “Issuer”),
        promises to pay interest on the principal amount of this Note at 5.75% per
        annum
        until maturity. The Issuer shall pay interest semi-annually in arrears in
        cash
        on February 15 and August 15 of each year, or if any such day is not a Business
        Day, on the next succeeding Business Day (each an “Interest Payment Date”).
        Interest on the Notes shall accrue from the most recent date to which interest
        has been paid or, if no interest has been paid, from August 17,  2007;
        provided, however, that if this Note is authenticated between a record date
        referred to on the face hereof and the next succeeding Interest Payment Date,
        interest shall accrue from such next succeeding Interest Payment Date; provided,
        further, that the first Interest Payment Date shall be February 15, 2008.
        The
        Issuer shall pay interest (including post-petition interest in any proceeding
        under any Bankruptcy Law) on overdue principal and premium, if any, from
        time to
        time at the interest rate then in effect under the Indenture and this Note;
        it
        shall pay interest (including post-petition interest in any proceeding under
        any
        Bankruptcy Law) on overdue installments of interest, from time to time at
        the
        same rate to the extent lawful. Interest shall be computed on the basis of
        a
        360-day year of twelve 30-day months.

       

      
        
          
          

        

        
          69

          
            

          

        

        
          
          

        

      

      2.           Method
        of Payment. The Issuer shall pay interest on the Notes (except defaulted
        interest) to the Persons in whose name this Note (or one or more Predecessor
        Notes) is registered at the close of business on February 1 or August 1
        preceding the Interest Payment Date, even if such Notes are cancelled after
        such
        record date and on or before such Interest Payment Date, except as provided
        in
        Section 2.12 of the Indenture with respect to defaulted interest. The Notes
        shall be payable as to principal, premium, if any, and interest at the office
        or
        agency of the Issuer maintained for such purpose, or, at the option of the
        Issuer, payment of interest may be made by check mailed to the Holders at
        their
        addresses set forth in the Security Register; provided, however, that payment
        by
        wire transfer of immediately available funds shall be required with respect
        to
        principal of and interest and premium, if any, on, all Global Notes and all
        other Notes the Holders of which shall have provided wire transfer instructions
        to the Issuer or the Paying Agent. Such payment shall be in such coin or
        currency of the United States of America as at the time of payment is legal
        tender for payment of public and private debts.

       

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

       

      4.           Indenture.
        The Issuer issued the Notes under an Indenture, dated as of August 17, 2007
        (“Indenture”), among the Issuer and the Trustee. The terms of the Notes include
        those stated in the Indenture and those made part of the Indenture by reference
        to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§
77aaa-77bbbb). The Notes are subject to all such terms,
        and
        Holders are referred to the Indenture and such Act for a statement of such
        terms. To the extent any provision of this Note conflicts with the express
        provisions of the Indenture, the provisions of the Indenture shall govern
        and be
        controlling.

       

      5.           Optional
        Redemption.

       

      (a)           The
        Notes will be redeemable as a whole or in part, at the option of the Issuer
        at
        any time at a redemption price equal to the greater of (i) 100% of the principal
        amount of such Notes and (ii) the sum of the present values of the remaining
        scheduled payments of principal and interest thereon discounted to the
        redemption date on a semiannual basis (assuming a 360-day year consisting
        of
        twelve 30-day months) at the Treasury Rate, as defined in the Indenture below,
        plus 20 basis points, plus in each case accrued interest thereon to the date
        of
        redemption.

       

      For
        purposes of this Note the following terms shall have the meaning
        specified.

       

      “Comparable
        Treasury Issue” means the United States Treasury security selected by an
        Independent Investment Banker as having a maturity comparable to the remaining
        term of the Notes to be redeemed that would be utilized, at the time of
        selection and in accordance with customary financial practice, in pricing
        new
        issues of corporate debt securities of comparable maturity to the remaining
        term
        of such Notes.

       

      
        
          
          

        

        
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      “Comparable
        Treasury Price” means, with respect to any redemption date, (i) the average
        of the bid and asked prices for the Comparable Treasury Issue (expressed
        in each
        case as a percentage of its principal amount) on the third business day
        preceding such redemption date, as set forth in the daily statistical release
        (or any successor release) published by the Federal Reserve Bank of New York
        and
        designated “Composite 3:30 p.m. Quotations for U.S. Government Securities” or
        (ii) if such release (or any successor release) is not published or does
        not
        contain such prices on such business day, (A) the average of the Reference
        Treasury Dealer Quotations for such redemption date, after excluding the
        highest
        and lowest such Reference Treasury Dealer Quotations, or (B) if the Issuer
        obtains fewer than four such Reference Treasury Dealer Quotations, the average
        of all such Quotations.

       

      “Independent
        Investment Banker” means one of the Reference Treasury Dealers appointed by
        the Issuer.

       

      “Reference
        Treasury Dealer” means each of Citigroup Global Markets Inc. and Morgan
        Stanley & Co. Incorporated and their respective successors and, at the
        option of the Issuer, additional Primary Treasury Dealers; provided, however,
        that if any of the foregoing shall cease to be a primary U.S. Government
        securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer
        shall substitute therefor another Primary Treasury Dealer.

       

      “Reference
        Treasury Dealer Quotations” means, with respect to each Reference Treasury
        Dealer and any redemption date, the average, as determined by the Issuer,
        of the
        bid and ask prices for the Comparable Treasury Issue (expressed in each case
        as
        a percentage of its principal amount) quoted in writing to the Issuer by
        such
        Reference Treasury Dealer at 5:00 p.m. on the third business day preceding
        such
        redemption date.

       

      “Yield
        to Maturity” means the yield to maturity on the Notes, calculated at the
        time of issuance of the Notes, and calculated in accordance with accepted
        financial practice.

       

      (b)           Any
        prepayment pursuant to this paragraph shall be made pursuant to the provisions
        of Sections 11.1 through 11.6 of the Indenture.

       

      6.           Mandatory
        Redemption. The Issuer shall not be required to make mandatory redemption
        or sinking fund payments with respect to the Notes.

       

      7.           Notice
        of Redemption. Notices of redemption shall be mailed at least 30 days but
        not more than 60 days before the redemption date to each Holder whose Notes
        are
        to be redeemed at its registered address. Notes in denominations larger than
        $2,000 may be redeemed in part but only in integral multiples of $1,000,
        unless
        all of the Notes held by a Holder are to be redeemed. On and after the
        redemption date interest shall cease to accrue on Notes or portions thereof
        called for redemption.

       

      
        
          
          

        

        
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      8.           Denominations,
        Transfer, Exchange. The Notes are in registered form without coupons in
        denominations of $2,000 and integral multiples of $1,000 in excess
        thereof.  This Note shall represent the aggregate principal amount of
        Outstanding Notes from time to time endorsed hereon and the aggregate principal
        amount of Notes represented hereby may from time to time be reduced or
        increased, as appropriate, to reflect exchanges and redemptions. The transfer
        of
        Notes may be registered and Notes may be exchanged as provided in the Indenture.
        The Registrar and the Trustee may require a Holder, among other things, to
        furnish appropriate endorsements and transfer documents and the Issuer may
        require a Holder to pay any taxes and fees required by law or permitted by
        the
        Indenture. The Issuer need not exchange or register the transfer of any Note
        or
        portion of a Note selected for redemption, except for the unredeemed portion
        of
        any Note being redeemed in part. Also, the Issuer need not exchange or register
        the transfer of any Notes for a period of 15 days before a selection of Notes
        to
        be redeemed or during the period between a record date and the corresponding
        Interest Payment Date.

       

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

       

      10.           Amendment,
        Supplement and Waiver. Subject to certain exceptions, the Issuer and the
        Trustee may amend or supplement the Indenture or the Notes with the consent
        of
        the Holders of at least a majority in principal amount of the Notes, including
        Additional Notes, if any then Outstanding, voting as a single class (including
        consents obtained in connection with a purchase of or tender offer or exchange
        offer for the Notes), and, subject to Section 4.10 of the Indenture, any
        existing Default or Event of Default (except a continuing Default or Event
        of
        Default (i) in the payment of principal, premium, if any, interest, if any,
        on
        the Notes and (ii) in respect of a covenant or provision which under the
        Indenture cannot be modified or amended without the consent of the Holder
        of
        each Note affected by such modification or amendment) or compliance with
        any
        provision of the Indenture or the Notes may be waived with the consent of
        the
        Holders of at least a majority in principal amount of the Notes, including
        Additional Notes, if any, then Outstanding voting as a single class (including
        consents obtained in connection with a purchase of or tender offer or exchange
        offer for the Notes). Without the consent of any Holder, the Issuer and the
        Trustee may amend or supplement the Indenture or the Notes: (a) to convey,
        transfer, assign, mortgage or pledge to the Trustee as security for the Notes
        any property or assets; (b) to evidence the succession of another Person
        to the
        Issuer, or successive successions, and the assumption by the successor Person
        of
        the covenants, agreements and obligations of the Issuer pursuant to Article
        Eight of the Indenture; (c) to add to the covenants of the Issuer such further
        covenants, restrictions, conditions or provisions as the Issuer and the Trustee
        shall consider to be for the protection of the Holders of Notes, and to make
        the
        occurrence, or the occurrence and continuance, of a default in any such
        additional covenants, restrictions, conditions or provisions an Event of
        Default
        permitting the enforcement of all or any of the several remedies provided
        in
        this Indenture as herein set forth; provided, that in respect of any such
        additional covenant, restriction, condition or provision such supplemental
        indenture may provide for a particular period of grace after default (which
        period may be shorter or longer than that allowed in the case of other defaults)
        or may provide for an immediate enforcement upon such an Event of Default
        or may
        limit the remedies available to the Trustee upon such an Event of Default
        or may
        limit the right of the Holders of a majority in aggregate principal amount
        of
        the Notes of such series to waive such an Event of Default; (d) to cure any
        ambiguity or to correct or supplement any provision contained herein or in
        any
        supplemental indenture which may be defective or inconsistent with any other
        provision contained herein or in any supplemental indenture, or to make any
        other provisions as the Issuer may deem necessary or desirable, provided
        that no
        such action shall materially adversely affect the interests of the Holders
        of
        the Notes; (e) to establish the form or terms of the Notes or Additional
        Notes
        appertaining to such Notes or Additional Notes; and (f) to evidence and provide
        for the acceptance of appointment hereunder by a successor trustee with respect
        to the Notes of one or more series and to add to or change any of the provisions
        of this Indenture as shall be necessary to provide for or facilitate the
        administration of the trusts hereunder by more than one trustee, pursuant
        to the
        requirements of Section 5.10 of the Indenture.

       

      
        
          
          

        

        
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      11.           Defaults
        and Remedies. Each of the following constitutes an Event of Default with
        respect to the Notes: default in the payment of any installment of interest
        upon
        any of the Notes as and when the same shall become due and payable, and
        continuance of such default for a period of 30 days; or default in the payment
        of all or any part of the principal on any of the Notes as and when the same
        shall become due and payable either at maturity, upon any redemption, by
        declaration or otherwise; or default in the performance, or breach, of any
        covenant or warranty of the Issuer in respect of the Notes and continuance
        of
        such default or breach for a period of 60 days (or 180 days in the case of
        a
        Reporting Failure) after there has been given, by registered or certified
        mail,
        to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders
        of
        at least 25% in aggregate principal amount of the Outstanding Notes, a written
        notice specifying such default or breach and requiring it to be remedied
        and
        stating that such notice is a “Notice of Default” hereunder; or either (1)
        default in payment of any Indebtedness of the Issuer or any Subsidiary of
        the
        Issuer within any applicable grace period after final maturity or (2) the
        acceleration of Indebtedness of the Issuer or any Subsidiary of the Issuer
        by
        the holders thereof because of a default and, in either case, the total amount
        of the Indebtedness unpaid or accelerated exceeds $25.0 million; or the entry
        of
        a decree or order by a court having jurisdiction in the premises adjudging
        the
        Issuer or any Significant Subsidiary as bankrupt or insolvent, or approving
        as
        properly filed a petition seeking reorganization arrangement, adjustment
        or
        composition of or in respect of the Issuer or any Significant Subsidiary
        under
        the federal bankruptcy law or any other applicable federal or state law,
        or
        appointing a receiver, liquidator, assignee, trustee, sequestrator (or other
        similar official) of the Issuer or any Significant Subsidiary or for any
        substantial part of its property, or ordering the winding up or liquidation
        of
        its affairs, and the continuance of any such decree or order unstayed and
        in
        effect for a period of 60 consecutive days; or the institution by the Issuer
        or
        any Significant Subsidiary of proceedings to be adjudicated as bankrupt or
        insolvent or the consent by the Issuer or any Significant Subsidiary to the
        institution of bankruptcy or insolvency proceedings against it, or the filing
        by
        the Issuer or any Significant Subsidiary of a petition or answer or consent
        seeking reorganization or relief under the federal bankruptcy law or any
        other
        applicable federal or state law, or the consent by the Issuer or any Significant
        Subsidiary to the filing of any such petition or to the appointment of a
        receiver, liquidator, assignee, trustee, sequestrator (or other similar
        official) of the Issuer or any Significant Subsidiary or for any substantial
        part of its property, or the making by the Issuer or any Significant Subsidiary
        of any general assignment for the benefit of creditors; provided, however,
        that
        the occurrence of any of the events described in clause (c) of Section 4.1
        of
        the Indenture shall not constitute an Event of Default if such occurrence
        is the
        result of changes in generally accepted accounting principles as recognized
        by
        the American Institute of Certified Public Accountants at the date as of which
        this Indenture is executed and a certificate to such effect is delivered
        to the
        Trustee by the Issuer’s independent public accountants

       

      
        
          
          

        

        
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      If
        an
        Event of Default described in clauses (a), (b), (c) or (d) of Section 4.1
        of the
        Indenture occurs and is continuing, then, and in each and every such case,
        either the Trustee or the Holders of not less than 25% in aggregate principal
        amount of the Notes then Outstanding under the Indenture by notice in writing
        to
        the Issuer (and to the Trustee if given by Noteholders), may declare the
        entire
        principal of all Notes, and the interest accrued thereon, if any, to be due
        and
        payable immediately, and upon any such declaration, the same shall become
        immediately due and payable. If an Event of Default described in clause (e)
        or
        (f) of Section 4.1 of the Indenture occurs and is continuing, then and in
        each
        and every such case, unless the principal of all the Notes shall have already
        become due and payable, the entire principal of all of the Notes then
        Outstanding, and interest accrued thereon, if any, will become immediately
        due
        and payable without any declaration of acceleration or other act on the part
        of
        the Trustee or any Holders.

       

      The
        foregoing provisions, however, are subject to the condition that if, at any
        time
        after the principal of the Notes shall have been so declared due and payable
        or
        become automatically due and payable, and before any judgment or decree for
        the
        payment of the moneys due shall have been obtained or entered as hereinafter
        provided, the Issuer shall pay or shall deposit with the Trustee a sum
        sufficient to pay all matured installments of interest upon all the Notes
        and
        the principal of any and all Notes which shall have become due otherwise
        than by
        acceleration (with interest upon such principal and, to the extent that payment
        of such interest is enforceable under applicable law, on overdue installments
        of
        interest, at the same rate as the rate of interest specified in the Notes
        to the
        date of such payment or deposit) and such amount as shall be sufficient to
        cover
        reasonable compensation to the Trustee and each predecessor Trustee and their
        agents, attorneys and counsel, and all other expenses and liabilities incurred,
        and all advances made, by the Trustee and each predecessor Trustee except
        as a
        result of negligence or bad faith, and if any and all Events of Default under
        the Indenture, other than the non-payment of the principal of Notes which
        shall
        have become due by acceleration, shall have been cured, waived or otherwise
        remedied as provided herein, then and in every such case the Holders of a
        majority in aggregate principal amount of all the Notes then Outstanding,
        by
        written notice to the Issuer and to the Trustee, may waive all defaults with
        respect to each such series (or with respect to all the Notes, as the case
        may
        be) and rescind and annul such declaration and its consequences, but no such
        waiver or rescission and annulment shall extend to or shall affect any
        subsequent default or shall impair any right consequent thereon.

       

      12.           Trustee
        Dealings with Issuer. Subject to certain limitations, the Trustee in its
        individual or any other capacity may become the owner or pledgee of Notes
        and
        may otherwise deal with the Issuer or any Affiliate of the Issuer with the
        same
        rights it would have if it were not Trustee.

       

      13.           No
        Recourse Against Others. No past, present or future director, officer,
        employee, incorporator or sponsor, partner or holder of equity interest of
        the
        Issuer, as such, shall have any liability for any obligations of the Issuer
        under the Indenture, the Notes or for any claim based on, in respect of,
        or by
        reason of, such obligations or their creation. Each Holder by accepting a
        Note
        waives and releases all such liability.

       

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

       

      
        
          
          

        

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

       

      16.           CUSIP
        Numbers. Pursuant to a recommendation promulgated by the Committee on
        Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers
        to be printed on the Notes and has directed the Trustee to use CUSIP numbers
        in
        notices of redemption or notices of Offers to Purchase as a convenience to
        Holders. No representation is made as to the correctness of such numbers
        either
        as printed on the Notes or as contained in any notice of redemption or notice
        of
        an offer to purchase and reliance may be placed only on the other identification
        numbers printed thereon and any such redemption or offer to purchase shall
        not
        be affected by any defect in or omission of such numbers.

       

      The
        Issuer shall furnish to any Holder upon written request and without charge
        a
        copy of the Indenture. Requests may be made to: Gulf South Pipeline Company,
        LP,
        3800 Frederica Street, Owensboro, KY  42301, Attn: Jamie Buskill,
        Chief Financial Officer.

       

      17.           Governing
        Law. The law of the State of New York shall govern and be used to construe
        this Note.

       

      
        
          
          

        

        
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      SCHEDULE
        OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

       

      The
        following exchanges of a part of this Global Note for an interest in another
        Global Note or for a Definitive Note, or exchanges of a part of another Global
        Note or Definitive Note for an interest in this Global Note, have been
        made:

       

      

       

      
        	
                Date
                  of Exchange

              	
                Amount
                  of decrease in Principal Amount of this Global
                  Note

              	
                Amount
                  of increase in Principal Amount of this Global
                  Note

              	
                Principal
                  Amount of this Global Note following such decrease (or
                  increase)

              	
                Signature
                  of authorized signatory of Trustee or Note
                  Custodian

              
	 	 	 	 	 

      

      

       

      
        
          
          

        

        
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                    EXHIBIT
              A-2      
    

        

      

      (Face
        of Regulation S Temporary Global Note)

       

      

       

      ____%
        NOTES DUE 2012

       

      

       

      CUSIP  ____________

       

      No.
        _____ $ ____________

       

      

       

      GULF
        SOUTH PIPELINE COMPANY, LP

       

      promises
        to pay to CEDE & CO., INC., or its registered assigns, the principal sum of
        U.S. Dollars ($_____________) on August 15, 2012.

       

      Interest
        Payment Dates:  February 15 and August 15, commencing February 15,
        2008

       

      Record
        Dates:  February 1 and August 1.

       

      IN
        WITNESS WHEREOF, the Issuer has caused this Note to be signed by its duly
        authorized officer.

       

      

      GULF
        SOUTH PIPELINE COMPANY, LP

      

        By:
        GS Pipeline Company, LLC, its general partner

      

      By:           

      Name:

      Title:

      

      This
        is
        one of the [Global]

      Notes
        referred to in the

      within-mentioned
        Indenture:

      

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

      as
        Trustee

      

      

      By:                                                      

      Authorized
        Signatory

      

      Dated:                                           ,
        20__

      

       

      
        
          
          

        

        
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      (Back
        of Regulation S Temporary Global Note)

       

      

       

      5.75%
        NOTES DUE 2012

       

      THE
        RIGHTS ATTACHING TO THIS REGULATION
        S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS
        EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED
        HEREIN).  NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS
        REGULATION S TEMPORARY GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF
        INTEREST HEREON.

       

      [THE
        NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
        OF
        1933, AS AMENDED (THE “SECURITIES ACT”), OR OTHER SECURITIES
        LAWS.  NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
        BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
        DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS THE TRANSACTION IS
        EXEMPT
        FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
        ACT.
        THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT
        (A) IT
        IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE
        SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING ITS NOTE
        IN AN
“OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE SECURITIES
        ACT, (2) AGREES THAT IT WILL NOT PRIOR TO (X) THE DATE WHICH IS TWO YEARS
        (OR
        SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144(k) UNDER THE SECURITIES
        ACT
        OR ANY SUCCESSOR PROVISION THEREUNDER) AFTER THE LATER OF THE ORIGINAL ISSUE
        DATE HEREOF (OR OF ANY PREDECESSOR OF THIS NOTE) OR THE LAST DAY ON WHICH
        THE
        ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS NOTE (OR ANY
        PREDECESSOR OF THIS NOTE) AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED
        BY
        APPLICABLE LAW (THE “RESALE RESTRICTION TERMINATION DATE”), OFFER, SELL OR
        OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO THE ISSUER, (B) PURSUANT TO A
        REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES
        ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE
        144A,
        TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS
        DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN
        ACCOUNT
        OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN
        THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A INSIDE THE UNITED
        STATES, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE
        THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES
        ACT OR
        (E) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
        OF THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO
        WHOM
        THIS NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND;
        PROVIDED THAT THE ISSUER, THE TRUSTEE AND THE REGISTRAR SHALL HAVE THE RIGHT
        PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (I) PURSUANT TO CLAUSE (D) OR (E)
        TO
        REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER
        INFORMATION SATISFACTORY TO EACH OF THEM, AND (II) IN EACH OF THE FOREGOING
        CASES, TO REQUIRE THAT A CERTIFICATION OF TRANSFER IN THE FORM APPEARING
        ON THE
        OTHER SIDE OF THIS NOTE IS COMPLETED AND DELIVERED BY THIS TRANSFEROR TO
        THE
        TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER
        THE
        RESALE RESTRICTION TERMINATION DATE. AS USED HEREIN, THE TERMS “OFFSHORE
        TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
        BY REGULATION S UNDER THE SECURITIES ACT.]

       

      
        
          
          

        

        
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      [THIS
        GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
        THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS
        HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT
        THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT
        TO SECTION 2.6 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN
        WHOLE
        BUT NOT IN PART PURSUANT TO SECTION 2.6(a) OF THE INDENTURE, (III)THIS GLOBAL
        NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION
        2.11
        OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
        DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER.

       

      UNLESS
        AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM,
        THIS
        NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE
        OF
        THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY UNLESS THIS
        NOTE
        IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
        (55
        WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE ISSUER OR ITS AGENT FOR
        REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
        IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN
        AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
        TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE
        OF
        DTC). ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
        OR TO
        ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
        HAS AN INTEREST HEREIN.]

       

      Capitalized
        terms used herein shall have the meanings assigned to them in the Indenture
        referred to below unless otherwise indicated.

       

      1.           Interest.  Gulf
        South Pipeline Company, LP, a Delaware limited partnership (the “Issuer”),
        promises to pay interest on the principal amount of this Note at 5.75% per
        annum
        until maturity. The Issuer shall pay interest semi-annually in arrears in
        cash
        on February 15 and August 15 of each year, or if any such day is not a Business
        Day, on the next succeeding Business Day (each an “Interest Payment Date”).
        Interest on the Notes shall accrue from the most recent date to which interest
        has been paid or, if no interest has been paid, from August 17,  2007;
        provided, however, that if this Note is authenticated between a record date
        referred to on the face hereof and the next succeeding Interest Payment Date,
        interest shall accrue from such next succeeding Interest Payment Date; provided,
        further, that the first Interest Payment Date shall be February 15, 2008.
        The
        Issuer shall pay interest (including post-petition interest in any proceeding
        under any Bankruptcy Law) on overdue principal and premium, if any, from
        time to
        time at the interest rate then in effect under the Indenture and this Note;
        it
        shall pay interest (including post-petition interest in any proceeding under
        any
        Bankruptcy Law) on overdue installments of interest, from time to time at
        the
        same rate to the extent lawful. Interest shall be computed on the basis of
        a
        360-day year of twelve 30-day months.

       

      
        
          
          

        

        
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      2.           Method
        of Payment. The Issuer shall pay interest on the Notes (except defaulted
        interest) to the Persons in whose name this Note (or one or more Predecessor
        Notes) is registered at the close of business on February 1 or August 1
        preceding the Interest Payment Date, even if such Notes are cancelled after
        such
        record date and on or before such Interest Payment Date, except as provided
        in
        Section 2.12 of the Indenture with respect to defaulted interest. The Notes
        shall be payable as to principal, premium, if any, and interest at the office
        or
        agency of the Issuer maintained for such purpose, or, at the option of the
        Issuer, payment of interest may be made by check mailed to the Holders at
        their
        addresses set forth in the Security Register; provided, however, that payment
        by
        wire transfer of immediately available funds shall be required with respect
        to
        principal of and interest and premium, if any, on, all Global Notes and all
        other Notes the Holders of which shall have provided wire transfer instructions
        to the Issuer or the Paying Agent. Such payment shall be in such coin or
        currency of the United States of America as at the time of payment is legal
        tender for payment of public and private debts.

       

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

       

      4.           Indenture.
        The Issuer issued the Notes under an Indenture, dated as of August 17, 2007
        (“Indenture”), among the Issuer and the Trustee. The terms of the Notes include
        those stated in the Indenture and those made part of the Indenture by reference
        to the Trust Indenture Act of 1939, as amended (15 U.S.Code §§ 77aaa-77bbbb).
        The Notes are subject to all such terms, and Holders are referred to the
        Indenture and such Act for a statement of such terms. To the extent any
        provision of this Note conflicts with the express provisions of the Indenture,
        the provisions of the Indenture shall govern and be controlling.

       

      5.           Optional
        Redemption.

       

      (a)           The
        Notes will be redeemable as a whole or in part, at the option of the Issuer
        at
        any time at a redemption price equal to the greater of (i) 100% of the principal
        amount of such Notes and (ii) the sum of the present values of the remaining
        scheduled payments of principal and interest thereon discounted to the
        redemption date on a semiannual basis (assuming a 360-day year consisting
        of
        twelve 30-day months) at the Treasury Rate, as defined in the Indenture below,
        plus 20 basis points, plus in each case accrued interest thereon to the date
        of
        redemption.

       

      For
        purposes of this Note the following terms shall have the meaning
        specified.

       

      
        
          
          

        

        
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      “Comparable
        Treasury Issue” means the United States Treasury security selected by an
        Independent Investment Banker as having a maturity comparable to the remaining
        term of the Notes to be redeemed that would be utilized, at the time of
        selection and in accordance with customary financial practice, in pricing
        new
        issues of corporate debt securities of comparable maturity to the remaining
        term
        of such Notes.

       

      “Comparable
        Treasury Price” means, with respect to any redemption date, (i) the average
        of the bid and asked prices for the Comparable Treasury Issue (expressed
        in each
        case as a percentage of its principal amount) on the third business day
        preceding such redemption date, as set forth in the daily statistical release
        (or any successor release) published by the Federal Reserve Bank of New York
        and
        designated “Composite 3:30 p.m. Quotations for U.S. Government Securities” or
        (ii) if such release (or any successor release) is not published or does
        not
        contain such prices on such business day, (A) the average of the Reference
        Treasury Dealer Quotations for such redemption date, after excluding the
        highest
        and lowest such Reference Treasury Dealer Quotations, or (B) if the Issuer
        obtains fewer than four such Reference Treasury Dealer Quotations, the average
        of all such Quotations.

       

      “Independent
        Investment Banker” means one of the Reference Treasury Dealers appointed by
        the Issuer.

       

      “Reference
        Treasury Dealer” means each of Citigroup Global Markets Inc. and Morgan
        Stanley & Co. Incorporated and their respective successors and, at the
        option of the Issuer, additional Primary Treasury Dealers; provided, however,
        that if any of the foregoing shall cease to be a primary U.S. Government
        securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer
        shall substitute therefor another Primary Treasury Dealer.

       

      “Reference
        Treasury Dealer Quotations” means, with respect to each Reference Treasury
        Dealer and any redemption date, the average, as determined by the Issuer,
        of the
        bid and ask prices for the Comparable Treasury Issue (expressed in each case
        as
        a percentage of its principal amount) quoted in writing to the Issuer by
        such
        Reference Treasury Dealer at 5:00 p.m. on the third business day preceding
        such
        redemption date.

       

      “Yield
        to Maturity” means the yield to maturity on the Notes, calculated at the
        time of issuance of the Notes, and calculated in accordance with accepted
        financial practice.

       

      (b)           Any
        prepayment pursuant to this paragraph shall be made pursuant to the provisions
        of Sections 11.1 through 11.6 of the Indenture.

       

      6.           Mandatory
        Redemption. The Issuer shall not be required to make mandatory redemption
        or sinking fund payments with respect to the Notes.

       

      7.           Notice
        of Redemption. Notices of redemption shall be mailed at least 30 days but
        not more than 60 days before the redemption date to each Holder whose Notes
        are
        to be redeemed at its registered address. Notes in denominations larger than
        $2,000 may be redeemed in part but only in integral multiples of $1,000,
        unless
        all of the Notes held by a Holder are to be redeemed. On and after the
        redemption date interest shall cease to accrue on Notes or portions thereof
        called for redemption.

       

      
        
          
          

        

        
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      8.           Denominations,
        Transfer, Exchange. The Notes are in registered form without coupons in
        denominations of $2,000 and integral multiples of $1,000 in excess
        thereof.  This Note shall represent the aggregate principal amount of
        Outstanding Notes from time to time endorsed hereon and the aggregate principal
        amount of Notes represented hereby may from time to time be reduced or
        increased, as appropriate, to reflect exchanges and redemptions. The transfer
        of
        Notes may be registered and Notes may be exchanged as provided in the Indenture.
        The Registrar and the Trustee may require a Holder, among other things, to
        furnish appropriate endorsements and transfer documents and the Issuer may
        require a Holder to pay any taxes and fees required by law or permitted by
        the
        Indenture. The Issuer need not exchange or register the transfer of any Note
        or
        portion of a Note selected for redemption, except for the unredeemed portion
        of
        any Note being redeemed in part. Also, the Issuer need not exchange or register
        the transfer of any Notes for a period of 15 days before a selection of Notes
        to
        be redeemed or during the period between a record date and the corresponding
        Interest Payment Date.

       

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

       

      10.           Amendment,
        Supplement and Waiver. Subject to certain exceptions, the Issuer and the
        Trustee may amend or supplement the Indenture or the Notes with the consent
        of
        the Holders of at least a majority in principal amount of the Notes, including
        Additional Notes, if any then Outstanding, voting as a single class (including
        consents obtained in connection with a purchase of or tender offer or exchange
        offer for the Notes), and, subject to Section 4.10 of the Indenture, any
        existing Default or Event of Default (except a continuing Default or Event
        of
        Default (i) in the payment of principal, premium, if any, interest, if any,
        on
        the Notes and (ii) in respect of a covenant or provision which under the
        Indenture cannot be modified or amended without the consent of the Holder
        of
        each Note affected by such modification or amendment) or compliance with
        any
        provision of the Indenture or the Notes may be waived with the consent of
        the
        Holders of at least a majority in principal amount of the Notes, including
        Additional Notes, if any, then Outstanding voting as a single class (including
        consents obtained in connection with a purchase of or tender offer or exchange
        offer for the Notes). Without the consent of any Holder, the Issuer and the
        Trustee may amend or supplement the Indenture or the Notes: (a) to convey,
        transfer, assign, mortgage or pledge to the Trustee as security for the Notes
        any property or assets; (b) to evidence the succession of another Person
        to the
        Issuer, or successive successions, and the assumption by the successor Person
        of
        the covenants, agreements and obligations of the Issuer pursuant to Article
        Eight of the Indenture; (c) to add to the covenants of the Issuer such further
        covenants, restrictions, conditions or provisions as the Issuer and the Trustee
        shall consider to be for the protection of the Holders of Notes, and to make
        the
        occurrence, or the occurrence and continuance, of a default in any such
        additional covenants, restrictions, conditions or provisions an Event of
        Default
        permitting the enforcement of all or any of the several remedies provided
        in
        this Indenture as herein set forth; provided, that in respect of any such
        additional covenant, restriction, condition or provision such supplemental
        indenture may provide for a particular period of grace after default (which
        period may be shorter or longer than that allowed in the case of other defaults)
        or may provide for an immediate enforcement upon such an Event of Default
        or may
        limit the remedies available to the Trustee upon such an Event of Default
        or may
        limit the right of the Holders of a majority in aggregate principal amount
        of
        the Notes of such series to waive such an Event of Default; (d) to cure any
        ambiguity or to correct or supplement any provision contained herein or in
        any
        supplemental indenture which may be defective or inconsistent with any other
        provision contained herein or in any supplemental indenture, or to make any
        other provisions as the Issuer may deem necessary or desirable, provided
        that no
        such action shall materially adversely affect the interests of the Holders
        of
        the Notes; (e) to establish the form or terms of the Notes or Additional
        Notes
        appertaining to such Notes or Additional Notes; and (f) to evidence and provide
        for the acceptance of appointment hereunder by a successor trustee with respect
        to the Notes of one or more series and to add to or change any of the provisions
        of this Indenture as shall be necessary to provide for or facilitate the
        administration of the trusts hereunder by more than one trustee, pursuant
        to the
        requirements of Section 5.10 of the Indenture.

       

      
        
          
          

        

        
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      11.           Defaults
        and Remedies. Each of the following constitutes an Event of Default with
        respect to the Notes: default in the payment of any installment of interest
        upon
        any of the Notes as and when the same shall become due and payable, and
        continuance of such default for a period of 30 days; or default in the payment
        of all or any part of the principal on any of the Notes as and when the same
        shall become due and payable either at maturity, upon any redemption, by
        declaration or otherwise; or default in the performance, or breach, of any
        covenant or warranty of the Issuer in respect of the Notes and continuance
        of
        such default or breach for a period of 60 days (or 180 days in the case of
        a
        Reporting Failure) after there has been given, by registered or certified
        mail,
        to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders
        of
        at least 25% in aggregate principal amount of the Outstanding Notes, a written
        notice specifying such default or breach and requiring it to be remedied
        and
        stating that such notice is a “Notice of Default” hereunder; or either (1)
        default in payment of any Indebtedness of the Issuer or any Subsidiary of
        the
        Issuer within any applicable grace period after final maturity or (2) the
        acceleration of Indebtedness of the Issuer or any Subsidiary of the Issuer
        by
        the holders thereof because of a default and, in either case, the total amount
        of the Indebtedness unpaid or accelerated exceeds $25.0 million; or the entry
        of
        a decree or order by a court having jurisdiction in the premises adjudging
        the
        Issuer or any Significant Subsidiary as bankrupt or insolvent, or approving
        as
        properly filed a petition seeking reorganization arrangement, adjustment
        or
        composition of or in respect of the Issuer or any Significant Subsidiary
        under
        the federal bankruptcy law or any other applicable federal or state law,
        or
        appointing a receiver, liquidator, assignee, trustee, sequestrator (or other
        similar official) of the Issuer or any Significant Subsidiary or for any
        substantial part of its property, or ordering the winding up or liquidation
        of
        its affairs, and the continuance of any such decree or order unstayed and
        in
        effect for a period of 60 consecutive days; or the institution by the Issuer
        or
        any Significant Subsidiary of proceedings to be adjudicated as bankrupt or
        insolvent or the consent by the Issuer or any Significant Subsidiary to the
        institution of bankruptcy or insolvency proceedings against it, or the filing
        by
        the Issuer or any Significant Subsidiary of a petition or answer or consent
        seeking reorganization or relief under the federal bankruptcy law or any
        other
        applicable federal or state law, or the consent by the Issuer or any Significant
        Subsidiary to the filing of any such petition or to the appointment of a
        receiver, liquidator, assignee, trustee, sequestrator (or other similar
        official) of the Issuer or any Significant Subsidiary or for any substantial
        part of its property, or the making by the Issuer or any Significant Subsidiary
        of any general assignment for the benefit of creditors; provided, however,
        that
        the occurrence of any of the events described in clause (c) of Section 4.1
        of
        the Indenture shall not constitute an Event of Default if such occurrence
        is the
        result of changes in generally accepted accounting principles as recognized
        by
        the American Institute of Certified Public Accountants at the date as of
        which
        this Indenture is executed and a certificate to such effect is delivered
        to the
        Trustee by the Issuer’s independent public accountants

       

      
        
          
          

        

        
          83

          
            

          

        

        
          
          

        

      

      If
        an
        Event of Default described in clauses (a), (b), (c) or (d) of Section 4.1
        of the
        Indenture occurs and is continuing, then, and in each and every such case,
        either the Trustee or the Holders of not less than 25% in aggregate principal
        amount of the Notes then Outstanding under the Indenture by notice in writing
        to
        the Issuer (and to the Trustee if given by Noteholders), may declare the
        entire
        principal of all Notes, and the interest accrued thereon, if any, to be due
        and
        payable immediately, and upon any such declaration, the same shall become
        immediately due and payable. If an Event of Default described in clause (e)
        or
        (f) of Section 4.1 of the Indenture occurs and is continuing, then and in
        each
        and every such case, unless the principal of all the Notes shall have already
        become due and payable, the entire principal of all of the Notes then
        Outstanding, and interest accrued thereon, if any, will become immediately
        due
        and payable without any declaration of acceleration or other act on the part
        of
        the Trustee or any Holders.

       

      The
        foregoing provisions, however, are subject to the condition that if, at any
        time
        after the principal of the Notes shall have been so declared due and payable
        or
        become automatically due and payable, and before any judgment or decree for
        the
        payment of the moneys due shall have been obtained or entered as hereinafter
        provided, the Issuer shall pay or shall deposit with the Trustee a sum
        sufficient to pay all matured installments of interest upon all the Notes
        and
        the principal of any and all Notes which shall have become due otherwise
        than by
        acceleration (with interest upon such principal and, to the extent that payment
        of such interest is enforceable under applicable law, on overdue installments
        of
        interest, at the same rate as the rate of interest specified in the Notes
        to the
        date of such payment or deposit) and such amount as shall be sufficient to
        cover
        reasonable compensation to the Trustee and each predecessor Trustee and their
        agents, attorneys and counsel, and all other expenses and liabilities incurred,
        and all advances made, by the Trustee and each predecessor Trustee except
        as a
        result of negligence or bad faith, and if any and all Events of Default under
        the Indenture, other than the non-payment of the principal of Notes which
        shall
        have become due by acceleration, shall have been cured, waived or otherwise
        remedied as provided herein, then and in every such case the Holders of a
        majority in aggregate principal amount of all the Notes then Outstanding,
        by
        written notice to the Issuer and to the Trustee, may waive all defaults with
        respect to each such series (or with respect to all the Notes, as the case
        may
        be) and rescind and annul such declaration and its consequences, but no such
        waiver or rescission and annulment shall extend to or shall affect any
        subsequent default or shall impair any right consequent thereon.

       

      12.           Trustee
        Dealings with Issuer. Subject to certain limitations, the Trustee in its
        individual or any other capacity may become the owner or pledgee of Notes
        and
        may otherwise deal with the Issuer or any Affiliate of the Issuer with the
        same
        rights it would have if it were not Trustee.

       

      13.           No
        Recourse Against Others. No past, present or future director, officer,
        employee, incorporator or sponsor, partner or holder of equity interest of
        the
        Issuer, as such, shall have any liability for any obligations of the Issuer
        under the Indenture, the Notes or for any claim based on, in respect of,
        or by
        reason of, such obligations or their creation. Each Holder by accepting a
        Note
        waives and releases all such liability.

       

      
        
          
          

        

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

       

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

       

      16.           CUSIP
        Numbers. Pursuant to a recommendation promulgated by the Committee on
        Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers
        to be printed on the Notes and has directed the Trustee to use CUSIP numbers
        in
        notices of redemption or notices of Offers to Purchase as a convenience to
        Holders. No representation is made as to the correctness of such numbers
        either
        as printed on the Notes or as contained in any notice of redemption or notice
        of
        an offer to purchase and reliance may be placed only on the other identification
        numbers printed thereon and any such redemption or offer to purchase shall
        not
        be affected by any defect in or omission of such numbers.

       

      The
        Issuer shall furnish to any Holder upon written request and without charge
        a
        copy of the Indenture. Requests may be made to: Gulf South Pipeline Company,
        LP,
        3800 Frederica Street, Owensboro, KY  42301, Attn: Jamie Buskill,
        Chief Financial Officer.

       

      17.           Governing
        Law. The law of the State of New York shall govern and be used to construe
        this Note.

       

      
        
          
          

        

        
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      Assignment
        Form

       

      To
        assign
        this Note, fill in the form below:

       

      (I)
        or
        (we) assign and transfer this Note to

       

      

       

                                                         (Insert
        assignee’s social security or other tax I.D. no.)

       

      

       

      

       

      

       

      

       

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

       

      and
        irrevocably appoint

       

           as
        agent
        to transfer this Note on the books of the Issuer. The agent may substitute
        another to act for him.

       

      

       

      Date:                                

       

      Your
        Signature:                                                                           

      (Sign
        exactly as your name appears on the face of this Note)

      

      

      Signature
        Guarantee:                                                                           

      

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

      
        
          
          

        

        
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      SCHEDULE
        OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

       

      The
        following exchanges of a part of this Global Note for an interest in another
        Global Note or for a Definitive Note, or exchanges of a part of another Global
        Note or Definitive Note for an interest in this Global Note, have been
        made:

       

      

       

      
        	
                Date
                  of Exchange

              	
                Amount
                  of decrease in Principal Amount of this Global
                  Note

              	
                Amount
                  of increase in Principal Amount of this Global
                  Note

              	
                Principal
                  Amount of this Global Note following such decrease (or
                  increase)

              	
                Signature
                  of authorized signatory of Trustee or Note
                  Custodian

              
	 	 	 	 	 

      

      

       

      

       

      

       

      
        
          
          

        

        
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      EXHIBIT
        B

       

      

       

      FORM
        OF CERTIFICATE OF TRANSFER

       

      GULF
        SOUTH PIPELINE COMPANY, LP

      3800
        Frederica Street

      Ownesboro,
        KY  42301

      Attn:
        Jamie Buskill, Chief Financial Officer

      

      The
        Bank
        of New York Trust Company, N.A.

      2
        North
        LaSalle St., Suite 1020

      Chicago,
        IL  60602

      Attn:
        Corporate Trust Administration

      Facsimile
        No.: (312) 827-8542

      

      Re:           5.75%
        Notes due 2012

       

      Reference
        is hereby made to the Indenture, dated as of August 17, 2007 (the “Indenture”),
        among Gulf South Pipeline Company, LP, as issuer (the “Issuer”) and The Bank of
        New York Trust Company, N.A., as Trustee. Capitalized terms used but not
        defined
        herein shall have the meanings given to them in the Indenture.

       

      ,
        (the “Transferor”) owns and proposes
        to transfer the Note[s] or interest in such Note[s] specified in Annex A
        hereto,
        in the principal amount of $  in such Note[s] or interests (the
“Transfer”‘), to   (the “Transferee”), as further specified in Annex
        A hereto. In connection with the Transfer, the Transferor hereby certifies
        that:

       

      [CHECK
        ALL THAT APPLY]

       

      1.           ❑
        Check if Transferee will take delivery of a beneficial interest in the 144A
        GlobalNote or a Definitive Note Pursuant to Rule 144A. The Transfer is being
        effected pursuant to and in accordance with Rule 144A under the United States
        Securities Act of 1933, as amended (the “Securities Act’), and, accordingly, the
        Transferor hereby further certifies that the beneficial interest or Definitive
        Note is being transferred to a Person that the Transferor reasonably believed
        and believes is purchasing the beneficial interest or Definitive Note for
        its
        own account, or for one or more accounts with respect to which such Person
        exercises sole investment discretion, and such Person and each such account
        is a
“qualified institutional buyer” within the meaning of Rule 144A in a transaction
        meeting the requirements of Rule 144A and such Transfer is in compliance
        with
        any applicable blue sky securities laws of any state of the United States.
        Upon
        consummation of the proposed Transfer in accordance with the terms of the
        Indenture, the transferred beneficial interest or Definitive Note will be
        subject to the restrictions on transfer enumerated in the Private Placement
        Legend printed on the 144A Global Note and/or the Definitive Note and in
        the
        Indenture and the Securities Act.

       

      
        
          
          

        

        
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      2.           ❑
        Check if Transferee will take delivery of a beneficial interest in the
        Regulation S Global Note or a Definitive Note pursuant to Regulation S. The
        Transfer is being effected pursuant to and in accordance with Rule 903 or
        Rule
        904 under the Securities Act and, accordingly, the Transferor hereby further
        certifies that (i) the Transfer is not being made to a Person in the United
        States and (x) at the time the buy order was originated, the Transferee was
        outside the United States or such Transferor and any Person acting on its
        behalf
        reasonably believed and believes that the Transferee was outside the United
        States or (y) the transaction was executed in, on or through the facilities
        of a
        designated offshore securities market and neither such Transferor nor any
        Person
        acting on its behalf knows that the transaction was prearranged with a buyer
        in
        the United States, (ii) no directed selling efforts have been made in
        contravention of the requirements of Rule 903(b) or Rule 904(a) of Regulation
        S
        under the Securities Act, (iii) the transaction is not part of a plan or
        scheme
        to evade the registration requirements of the Securities Act and (iv) if
        the
        proposed transfer is being made prior to the expiration of the Distribution
        Compliance Period, the transfer is not being made to a U.S. Person or for
        the
        account or benefit of a U.S. Person (other than an Initial Purchaser). Upon
        consummation of the proposed transfer in accordance with the terms of the
        Indenture, the transferred beneficial interest or Definitive Note will be
        subject to the restrictions on Transfer enumerated in the Private Placement
        Legend printed on the Regulation S Global Note, the Temporary Regulation
        S
        Global Note and/or the Definitive Note and in the Indenture and the Securities
        Act.

       

      3.           ⁯
        Check and complete if Transferee will take delivery of a Definitive Note
        pursuant to any provision of the Securities Act other than Rule 144A or
        Regulation S. The Transfer is being effected in compliance with the transfer
        restrictions applicable to beneficial interests in Restricted Global Notes
        and
        Restricted Definitive Notes and pursuant to and in accordance with the
        Securities Act and any applicable blue sky securities laws of any state of
        the
        United States, and accordingly the Transferor hereby further certifies that
        (check one):

       

      (a)           ⁯
        such Transfer is being effected pursuant to and in accordance with Rule 144
        under the Securities Act;

       

      or

       

      (b)           ⁯
        such Transfer is being effected to the Issuer or a Subsidiary
        thereof;

       

      or

       

      (c)           ⁯
        such Transfer is being effected pursuant to an effective registration statement
        under the Securities Act and in compliance with the prospectus delivery
        requirements of the Securities Act.

       

      4.           ⁯
        Check if Transferee will take delivery of a beneficial interest in an
        Unrestricted Global Note or of an Unrestricted Definitive Note.

       

      (a)           ⁯
        Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected
        pursuant to and in accordance with Rule 144 under the Securities Act and
        in
        compliance with the transfer restrictions contained in the Indenture and
        any
        applicable blue sky securities laws of any state of the United States and
        (ii)
        the restrictions on transfer contained in the Indenture and the Private
        Placement Legend are not required in order to maintain compliance with the
        Securities Act. Upon consummation of the proposed Transfer in accordance
        with
        the terms of the Indenture, the transferred beneficial interest or Definitive
        Note will no longer be subject to the restrictions on transfer enumerated
        in the
        Private Placement Legend printed on the Restricted Global Notes, on Restricted
        Definitive Notes and in the Indenture.

       

      
        
          
          

        

        
          89

          
            

          

        

        
          
          

        

      

      (b)           ⁯
        Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being
        effected pursuant to and in accordance with Rule 903 or Rule 904 under the
        Securities Act and in compliance with the transfer restrictions contained
        in the
        Indenture and any applicable blue sky securities laws of any state of the
        United
        States and (ii) the restrictions on transfer contained in the Indenture and
        the
        Private Placement Legend are not required in order to maintain compliance
        with
        the Securities Act. Upon consummation of the proposed Transfer in accordance
        with the terms of the Indenture, the transferred beneficial interest or
        Definitive Note will no longer be subject to the restrictions on transfer
        enumerated in the Private Placement Legend printed on the Restricted Global
        Notes, on Restricted Definitive Notes and in the Indenture.

       

      (c)           ⁯
        Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being
        effected pursuant to and in compliance with an exemption from the registration
        requirements of the Securities Act other than Rule 144, Rule 903 or Rule
        904 and
        in compliance with the transfer restrictions contained in the Indenture and
        any
        applicable blue sky securities laws of any State of the United States and
        (ii)
        the restrictions on transfer contained in the Indenture and the Private
        Placement Legend are not required in order to maintain compliance with the
        Securities Act. Upon consummation of the proposed Transfer in accordance
        with
        the terms of the Indenture, the transferred beneficial interest or Definitive
        Note will not be subject to the restrictions on transfer enumerated in the
        Private Placement Legend printed on the Restricted Global Notes or Restricted
        Definitive Notes and in the Indenture.

       

      This
        certificate and the statements contained herein are made for your benefit
        and
        the benefit of the Issuer.

       

      

       

      

      [Insert
        Name of Transferor]

      

      

      

      By:           

      Name:

      Title:

      

      

      

       

      
        
          
          

        

        
          90

          
            

          

        

        
          
          

        

      

      ANNEX
        A TO CERTIFICATE OF TRANSFER

       

      1.           The
        Transferor owns and proposes to transfer the following:

       

      [CHECK
        ONE OF (a) OR (b)]

       

      (a)           ⁬
        a beneficial interest in the:

       

      (i)           ⁬
        144A Global Note (CUSIP), or

       

      (ii)           ⁬
        Regulation S Global Note (CUSIP), or

       

      (b)           ⁬
        a Restricted Definitive Note.

       

      2.           After
        the Transfer the Transferee will hold:

       

      [CHECK
        ONE OF (a), (b) OR (c)]

       

      (a)           ⁬
        a beneficial interest in the:

       

      (i)           ⁬
        144A Global Note (CUSIP), or

       

      (ii)           ⁬
        Regulation S Global Note (CUSIP), or

       

      (iii)           ⁬
        Unrestricted Global Note (CUSIP), or

       

      (b)           ⁬
        a Restricted Definitive Note; or

       

      (c)           ⁬
        an Unrestricted Definitive Note,

       

      in
        accordance with the terms of the Indenture.

       

      
        
          
          

        

        
          91

          
            

          

        

        
          
          

        

      

      EXHIBIT
        C

       

      FORM
        OF CERTIFICATE OF EXCHANGE

       

      

      GULF
        SOUTH PIPELINE COMPANY, LP

      3800
        Frederica Street

      Ownesboro,
        KY  42301

      Attn:
        Jamie Buskill, Chief Financial Officer

      

      The
        Bank
        of New York Trust Company, N.A.

      2
        North
        LaSalle St., Suite 1020

      Chicago,
        IL  60602

      Attn:
        Corporate Trust Administration

      Facsimile
        No.: (312) 827-8542

      

      Re:           5.75%
        Notes due 2012

       

      Reference
        is hereby made to the Indenture, dated as of August 17, 2007 (the “Indenture”),
        among Gulf South Pipeline Company, LP, as issuer (the “Issuer”) and The Bank of
        New York Trust Company, N.A., as Trustee. Capitalized terms used but not
        defined
        herein shall have the meanings given to them in the Indenture.

       

      ,
        (the “Owner”) owns and proposes to
        exchange the Note[s] or interest in such Note[s] specified herein, in the
        principal amount of $ in such Note[s] or interests (the “Exchange”). In
        connection with the Exchange, the Owner hereby certifies that:

       

      1.           Exchange
        of Restricted Definitive Notes or Beneficial Interests in a Restricted Global
        Note for Unrestricted Definitive Notes or Beneficial Interests in an
        Unrestricted Global Note

       

      (a)           ⁯
        Check if Exchange is from beneficial interest in a Restricted Global Note
        to
        beneficial interest in an Unrestricted Global Note. In connection with the
        Exchange of the Owner’s beneficial interest in a Restricted Global Note for a
        beneficial interest in an Unrestricted Global Note in an equal principal
        amount,
        the Owner hereby certifies (i) the beneficial interest is being acquired
        for the
        Owner’s own account without transfer, (ii) such Exchange has been effected in
        compliance with the transfer restrictions applicable to the Restricted Global
        Note and pursuant to and in accordance with the United States Securities
        Act of
        1933, as amended (the “Securities Act”), (iii) the restrictions on transfer
        contained in the Indenture and the Private Placement Legend are not required
        in
        order to maintain compliance with the Securities Act and (iv) the beneficial
        interest in an Unrestricted Global Note is being acquired in compliance with
        any
        applicable blue sky securities laws of any state of the United
        States.

       

      
        
          
          

        

        
          92

          
            

          

        

        
          
          

        

      

      (b)           ⁯
        Check if Exchange is from beneficial interest in a Restricted GlobalNote
        to
        Unrestricted Definitive Note. In connection with the Exchange of the Owner’s
        beneficial interest in a Restricted Global Note for an Unrestricted Definitive
        Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is
        being
        acquired for the Owner’s own account without transfer, (ii) such Exchange has
        been effected in compliance with the transfer restrictions applicable to
        the
        Restricted Global Note and pursuant to and in accordance with the Securities
        Act, (iii) the restrictions on transfer contained in the Indenture and the
        Private Placement Legend are not required in order to maintain compliance
        with
        the Securities Act and (iv) the Unrestricted Definitive Note is being acquired
        in compliance with any applicable blue sky securities laws of any state of
        the
        United States.

       

      (c)           ⁯
        Check if Exchange is from Restricted Definitive Note to beneficial interest
        in
        an Unrestricted Global Note. In connection with the Owner’s Exchange of a
        Restricted Definitive Note for a beneficial interest in an Unrestricted Global
        Note, the Owner hereby certifies (i) the beneficial interest is being acquired
        for the Owner’s own account without transfer, (ii) such Exchange has been
        effected in compliance with the transfer restrictions applicable to Restricted
        Definitive Notes and pursuant to and in accordance with the Securities Act,
        (iii) the restrictions on transfer contained in the Indenture and the Private
        Placement Legend are not required in order to maintain compliance with the
        Securities Act and (iv) the beneficial interest is being acquired in compliance
        with any applicable blue sky securities laws of any state of the United
        States.

       

      (d)           ⁯
        Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive
        Note. In connection with the Owner’s Exchange of a Restricted Definitive Note
        for an Unrestricted Definitive Note, the Owner hereby certifies (i) the
        Unrestricted Definitive Note is being acquired for the Owner’s own account
        without transfer, (ii) such Exchange has been effected in compliance with
        the
        transfer restrictions applicable to Restricted Definitive Notes and pursuant
        to
        and in accordance with the Securities Act, (iii) the restrictions on transfer
        contained in the Indenture and the Private Placement Legend are not required
        in
        order to maintain compliance with the Securities Act and (iv) the Unrestricted
        Definitive Note is being acquired in compliance with any applicable blue
        sky
        securities laws of any state of the United States.

       

      2.           Exchange
        of Restricted Definitive Notes or Beneficial Interests in Restricted Global
        Notes for Restricted Definitive Notes or Beneficial Interests in Restricted
        Global Notes

       

      (a)           ⁯
        Check if Exchange is from beneficial interest in a Restricted GlobalNote
        to
        Restricted Definitive Note. In connection with the Exchange of the Owner’s
        beneficial interest in a Restricted Global Note for a Restricted Definitive
        Note
        with an equal principal amount, the Owner hereby certifies that the Restricted
        Definitive Note is being acquired for the Owner’s own account without transfer.
        Upon consummation of the proposed Exchange in accordance with the terms of
        the
        Indenture, the Restricted Definitive Note issued will continue to be subject
        to
        the restrictions on transfer enumerated in the Private Placement Legend printed
        on the Restricted Definitive Note and in the Indenture and the Securities
        Act.

       

      
        
          
          

        

        
          93

          
            

          

        

        
          
          

        

      

      (b)           ⁯
        Check if Exchange is from Restricted Definitive Note to beneficial interest
        in a
        Restricted Global Note. In connection with the Exchange of the Owner’s
        Restricted Definitive Note for a beneficial interest in the [CIRCLE ONE]
        144A
        Global Note, Regulation S Global Note, with an equal principal amount, the
        Owner
        hereby certifies (i) the beneficial interest is being acquired for the Owner’s
        own account without transfer and (ii) such Exchange has been effected in
        compliance with the transfer restrictions applicable to the Restricted
        Definitive Note and pursuant to and in accordance with the Securities Act,
        and
        in compliance with any applicable blue sky securities laws of any state of
        the
        United States. Upon consummation of the proposed Exchange in accordance with
        the
        terms of the Indenture, the beneficial interest issued will be subject to
        the
        restrictions on transfer enumerated in the Private Placement Legend printed
        on
        the relevant Restricted Global Note and in the Indenture and the Securities
        Act.

       

      This
        certificate and the statements contained herein are made for your benefit
        and
        the benefit of the Issuer.

       

      

       

      

      [Insert
        Name of Transferor]

      

      

      

      By:           

      Name:

      Title:

      

      Dated:                                                                           

      

      

      
        
          
          

        

        
          94

          
            

          

        

        
          
          

        

      

      TABLE
        OF CONTENTS

       

       

      ARTICLE
        ONE DEFINITIONS AND INCORPORATION BY
        REFERENCE ...............................................................................................................................................................................................1

       

      
        	
                 

              	
                Section
                  1.1Definitions.........................................................................................................................................................................................................................................1

              

      

       

      
        	
                 

              	
                Section
                  1.2Other
                  Definitions..............................................................................................................................................................................................................................9

              

      

       

      
        	
                 

              	
                Section
                  1.3Incorporation by Reference of Trust Indenture
                  Act..................................................................................................................................................................9

              

      

       

      
        	
                 

              	
                Section
                  1.4Rules of
                  Construction.....................................................................................................................................................................................................................9

              

      

       

      ARTICLE
        TWO
        NOTES ...................................................................................................................................................................................................................................................................................10

       

      
        	
                 

              	
                Section
                  2.1Form and
                  Dating.............................................................................................................................................................................................................................10

              

      

       

      
        	
                 

              	
                Section
                  2.2Execution and
                  Authentication.....................................................................................................................................................................................................12

              

      

       

      
        	
                 

              	
                Section
                  2.3Registrar and Paying
                  Agent.........................................................................................................................................................................................................12

              

      

       

      
        	
                 

              	
                Section
                  2.4Paying Agent to Hold Money in
                  Trust......................................................................................................................................................................................12

              

      

       

      
        	
                 

              	
                Section
                  2.5Holder
                  Lists....................................................................................................................................................................................................................................13

              

      

       

      
        	
                 

              	
                Section
                  2.6Transfer and
                  Exchange.................................................................................................................................................................................................................13

              

      

       

      
        	
                 

              	
                Section
                  2.7Replacement
                  Notes.......................................................................................................................................................................................................................25

              

      

       

      
        	
                 

              	
                Section
                  2.8Outstanding
                  Notes........................................................................................................................................................................................................................25

              

      

       

      
        	
                 

              	
                Section
                  2.9Treasury
                  Notes..............................................................................................................................................................................................................................25

              

      

       

      
        	
                 

              	
                Section
                  2.10Temporary
                  Notes........................................................................................................................................................................................................................26

              

      

       

      
        	
                 

              	
                Section
                  2.11Cancellation.................................................................................................................................................................................................................................26

              

      

       

      
        	
                 

              	
                Section
                  2.12Defaulted
                  Interest.......................................................................................................................................................................................................................26

              

      

       

      
        	
                 

              	
                Section
                  2.13CUSIP or ISIN
                  Numbers............................................................................................................................................................................................................26

              

      

       

      
        	
                 

              	
                Section
                  2.14Issuance of Additional
                  Notes..................................................................................................................................................................................................27

              

      

       

      
        	
                 

              	
                Section
                  2.15Record
                  Date.................................................................................................................................................................................................................................27

              

      

       

      ARTICLE
        THREE COVENANTS OF THE
        ISSUER .....................................................................................................................................................................................................................................27

       

      
        	
                 

              	
                Section
                  3.1Payment of Principal and
                  Interest...............................................................................................................................................................................................27

              

      

       

      
        	
                 

              	
                Section
                  3.2Appointment to Fill a Vacancy in Office of
                  Trustee................................................................................................................................................................28

              

      

       

      
        	
                 

              	
                Section
                  3.3Written Statement to
                  Trustee......................................................................................................................................................................................................28

              

      

       

      
        	
                 

              	
                Section
                  3.4Limitations upon
                  Liens.................................................................................................................................................................................................................28

              

      

       

      
        	
                 

              	
                Section
                  3.5Limitation on Sale and Leaseback
                  Transactions......................................................................................................................................................................31

              

      

       

      
        	
                 

              	
                Section
                  3.6Holders
                  Lists..................................................................................................................................................................................................................................32

              

      

       

      
        	
                 

              	
                Section
                  3.7Reports by the
                  Issuer...................................................................................................................................................................................................................32

              

      

       

      
        	
                 

              	
                Section
                  3.8Reports by the
                  Trustee.................................................................................................................................................................................................................32

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        FOUR DEFAULTS ADD
        REMEDIES ..........................................................................................................................................................................................................................................33

       

      
        	
                 

              	
                Section
                  4.1Event of Default Defined, Acceleration of Maturity, Waiver
                  of
                  Default..............................................................................................................................33

              

      

       

      
        	
                 

              	
                Section
                  4.2Collection of Indebtedness by Trustee; Trustee May Prove
                  Debt.......................................................................................................................................35

              

      

       

      
        	
                 

              	
                Section
                  4.3Application of
                  Proceeds..............................................................................................................................................................................................................36

              

      

       

      
        	
                 

              	
                Section
                  4.4Suits for
                  Enforcement...................................................................................................................................................................................................................37

              

      

       

      
        	
                 

              	
                Section
                  4.5Restoration of Rights on Abandonment of
                  Proceedings.......................................................................................................................................................37

              

      

       

      
        	
                 

              	
                Section
                  4.6Limitations on Suits by
                  Holders.................................................................................................................................................................................................38

              

      

       

      
        	
                 

              	
                Section
                  4.7Unconditional Right of Holders to Institute Certain
                  Suits.....................................................................................................................................................38

              

      

       

      
        	
                 

              	
                Section
                  4.8Powers and Remedies Cumulative; Delay or Omission Not Waiver
                  of
                  Default..................................................................................................................38

              

      

       

      
        	
                 

              	
                Section
                  4.9Control by Holders of
                  Notes.......................................................................................................................................................................................................39

              

      

       

      
        	
                 

              	
                Section
                  4.10Waiver of Past
                  Defaults.............................................................................................................................................................................................................39

              

      

       

      
        	
                 

              	
                Section
                  4.11Trustee to Give Notice of Default, But May Withhold in Certain
                  Circumstances............................................................................................................40

              

      

       

      
        	
                 

              	
                Section
                  4.12Right of Court to Require Filing of Undertaking to Pay
                  Costs............................................................................................................................................40

              

      

       

      ARTICLE
        FIVE CONCERNING THE
        TRUSTEE ..........................................................................................................................................................................................................................................40

       

      
        	
                 

              	
                Section
                  5.1Duties and Responsibilities of the Trustee; During, Default;
                  Prior
                  to
                  Default....................................................................................................................40

              

      

       

      
        	
                 

              	
                Section
                  5.2Certain Rights of
                  Trustee.............................................................................................................................................................................................................41

              

      

       

      
        	
                 

              	
                Section
                  5.3Trustee Not Responsible for Recitals Disposition of Notes
                  or
                  Applications of Proceeds
                  Thereof.................................................................................43

              

      

       

      
        	
                 

              	
                Section
                  5.4Trustee and Agents May Hold Notes, Collections
                  etc...........................................................................................................................................................43

              

      

       

      
        	
                 

              	
                Section
                  5.5Moneys Held by
                  Trustee.............................................................................................................................................................................................................43

              

      

       

      
        	
                 

              	
                Section
                  5.6Compensation and Indemnification of Trustee and Its Prior
                  Claim.......................................................................................................................................43

              

      

       

      
        	
                 

              	
                Section
                  5.7Right of Trustee to Rely on Officers’
                  Certificate......................................................................................................................................................................44

              

      

       

      
        	
                 

              	
                Section
                  5.8Persons Eligible for Appointment as
                  Trustee...........................................................................................................................................................................44

              

      

       

      
        	
                 

              	
                Section
                  5.9Resignation and Removal; Appointment of Successor
                  Trustee............................................................................................................................................45

              

      

       

      
        	
                 

              	
                Section
                  5.10Acceptance and Appointment of Successor
                  Trustee...........................................................................................................................................................46

              

      

       

      
        	
                 

              	
                Section
                  5.11Merger, Conversion, Consolidation or Succession to Business
                  of
                  Trustee.....................................................................................................................46

              

      

       

      
        	
                 

              	
                Section
                  5.12Appointment of Authenticating
                  Agent...................................................................................................................................................................................47

              

      

       

      ARTICLE
        SIX CONCERNING THE
        HOLDERS ............................................................................................................................................................................................................................................48

       

      
        	
                 

              	
                Section
                  6.1Evidence of Action Taken by
                  Holders......................................................................................................................................................................................48

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                 

              	
                Section
                  6.2Proof of Execution of Instruments and of Holding of
                  Notes.................................................................................................................................................48

              

      

       

      
        	
                 

              	
                Section
                  6.3Holders to be Treated as
                  Owners..............................................................................................................................................................................................49

              

      

       

      
        	
                 

              	
                Section
                  6.4Notes Owned by Issuer Deemed Not
                  Outstanding................................................................................................................................................................49

              

      

       

      
        	
                 

              	
                Section
                  6.5Right of Revocation of Action
                  Taken......................................................................................................................................................................................50

              

      

       

      ARTICLE
        SEVEN
        AMENDMENTS ..............................................................................................................................................................................................................................................................51

       

      
        	
                 

              	
                Section
                  7.1Amendments and Supplements Without Consent of
                  Holders..............................................................................................................................................51

              

      

       

      
        	
                 

              	
                Section
                  7.2Amendments and Supplements With Consent of
                  Holders....................................................................................................................................................52

              

      

       

      
        	
                 

              	
                Section
                  7.3Effect of Amendment or Supplement to this
                  Indenture..........................................................................................................................................................53

              

      

       

      
        	
                 

              	
                Section
                  7.4Documents to Be Given to
                  Trustee............................................................................................................................................................................................53

              

      

       

      
        	
                 

              	
                Section
                  7.5Notation on Notes in Respect of Amendments and
                  Supplements.......................................................................................................................................53

              

      

       

      ARTICLE
        EIGHT
        SUCCESSORS ...................................................................................................................................................................................................................................................................53

       

      
        	
                 

              	
                Section
                  8.1Merger, Consolidation or Sale of Assets of the
                  Issuer..........................................................................................................................................................53

              

      

       

      
        	
                 

              	
                Section
                  8.2Successor Person
                  Substituted...................................................................................................................................................................................................54

              

      

       

      ARTICLE
        NINE SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED
        MONEYS ..................................................................................................................................................54

       

      
        	
                 

              	
                Section
                  9.1Satisfaction and Discharge of
                  Indenture..................................................................................................................................................................................54

              

      

       

      
        	
                 

              	
                Section
                  9.2Application by Trustee of Funds Deposited for Payment of
                  Notes....................................................................................................................................58

              

      

       

      
        	
                 

              	
                Section
                  9.3Repayment of Moneys Held by Paying
                  Agent.......................................................................................................................................................................58

              

      

       

      
        	
                 

              	
                Section
                  9.4Return of Moneys Held by Trustee and Paving Agent Unclaimed
                  for
                  Two
                  Years...........................................................................................................58

              

      

       

      
        	
                 

              	
                Section
                  9.5Indemnity for U.S. Government
                  Obligations............................................................................................................................................................................58

              

      

       

      
        	
                 

              	
                Section
                  9.6Excess
                  Funds.................................................................................................................................................................................................................................59

              

      

       

      ARTICLE
        TEN MISCELLANEOUS
        PROVISIONS ......................................................................................................................................................................................................................................59

       

      
        	
                 

              	
                Section
                  10.1Incorporators, Sponsors, Members, Partners, Holders of Equity
                  Interests, Officers and Directors of Issuer Exempt from Individual
                  Liability....59

              

      

       

      
        	
                 

              	
                Section
                  10.2Provisions of Indenture for the Sole Benefit of Parties and
                  Holders of
                  Notes..................................................................................................................59

              

      

       

      
        	
                 

              	
                Section
                  10.3Successors and Assigns of Issuer Bound by
                  Indenture......................................................................................................................................................59

              

      

       

      
        	
                 

              	
                Section
                  10.4Notices and Demands on Issuer, Trustee and Holders of
                  Notes........................................................................................................................................59

              

      

       

      
        	
                 

              	
                Section
                  10.5Officers’ Certificates and Opinions of Counsel; Statements to Be
                  Contained
                  Therein...................................................................................................60

              

      

       

      
        	
                 

              	
                Section
                  10.6Payments Due on Saturdays, Sundays and
                  Holidays..........................................................................................................................................................61

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                 

              	
                Section
                  10.7Conflict of Any Provision of Indenture with Trust Indenture
                  Act
                  of
                  1939.......................................................................................................................62

              

      

       

      
        	
                 

              	
                Section
                  10.8New York Law to
                  Govern..........................................................................................................................................................................................................62

              

      

       

      
        	
                 

              	
                Section
                  10.9Counterparts...............................................................................................................................................................................................................................62

              

      

       

      
        	
                 

              	
                Section
                  10.10Effect of
                  Headings...................................................................................................................................................................................................................62

              

      

       

      
        	
                 

              	
                Section
                  10.11Section 10.11  Waiver of Jury
                  Trial.......................................................................................................................................................................................62

              

      

       

      
        	
                 

              	
                Section
                  10.12Section 10.12  Force
                  Majeure.................................................................................................................................................................................................62

              

      

       

      ARTICLE
        ELEVEN REDEMPTION AND
        PREPAYMENT ........................................................................................................................................................................................................................63

       

      
        	
                 

              	
                Section
                  11.1Notices to
                  Trustee.....................................................................................................................................................................................................................63

              

      

       

      
        	
                 

              	
                Section
                  11.2Selection of Notes to Be
                  Redeemed........................................................................................................................................................................................63

              

      

       

      
        	
                 

              	
                Section
                  11.3Notice of
                  Redemption................................................................................................................................................................................................................63

              

      

       

      
        	
                 

              	
                Section
                  11.4Effect of Notice of
                  Redemption................................................................................................................................................................................................64

              

      

       

      
        	
                 

              	
                Section
                  11.5Deposit of Redemption
                  Price....................................................................................................................................................................................................64

              

      

       

      
        	
                 

              	
                Section
                  11.6Notes Redeemed in
                  Part............................................................................................................................................................................................................65

              

      

       

      
        	
                 

              	
                Section
                  11.7Optional
                  Redemption.................................................................................................................................................................................................................65

              

      

       

      
        	
                 

              	
                Section
                  11.8Mandatory
                  Redemption............................................................................................................................................................................................................65exhibit10-1.htm

     

     

    Exhibit
      10.1

    AEROFLEX
      INCORPORATED

    35
      South
      Service Road

    Plainview,
      New York  11803

    

    

                            August
      15,
      2007

    

    

    

    
      	
               

            	
              Re:  Addendum
                to March 2, 2007 Letter Agreement and May 25, 2007 Letter
                Agreement

            

    

    

    Dear
      Mr.
      Blau:

    

    This
      Letter Agreement is entered into,
      effective as of the date hereof, between you and Aeroflex Incorporated
      (“Aeroflex” or the “Company”).  Reference is made to those certain
      letter agreements between you and Aeroflex dated March 2, 2007 (the “March 2
      Letter Agreement”) and May 25, 2007, each of which remains in full force and
      effect.  Capitalized terms used but not defined herein shall have the
      meaning ascribed to such terms in the March 2 Letter Agreement.

    

    For
      purposes of determining the 2007
      Bonus amount, the Company agrees that to the extent the Company's consolidated
      pre-tax earnings for the fiscal year ended June 30, 2007 ("FY 2007") are reduced
      by an accrual for the bonuses to be paid to employees located in the Plainview
      office in respect of FY 2007, such accruals shall not be considered and shall
      not reduce the Company's consolidated pre-tax earnings in computing your 2007
      Bonus.

    

    Please
      indicate your agreement and
      acceptance of the terms of this Letter Agreement by executing both copies in
      the
      space indicated and returning one copy to Aeroflex.

     

     

    
      	 	AEROFLEX
              INCORPORATED	 
	 	 	 	 
	
               

            	
              By:
                

            	/s/ John
              Adamovich,
              Jr.	 
	 	 	Name:  	 John
              Adamovich,
              Jr.	 
	 	 	Title:    	 Senior
              Vice President and
              Chief Financial Officer	 
	 	 	 	 

     

    ACCEPTED
      AND AGREED TO:

    

    

    /s/
      Harvey R. Blau

    Harvey
      R.
      Blau

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