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 Exhibit 10.2  

EXECUTION COPY  

  
 

    AMENDMENT NO. 2 TO VOTING AND RIGHT OF FIRST REFUSAL AGREEMENT    
    

        THIS AMENDMENT NO. 2 TO THE VOTING AND RIGHT OF FIRST REFUSAL AGREEMENT (this
"Amendment"), dated as of October 2, 2009, is made by and among Liberty Entertainment, Inc., a Delaware corporation
("Splitco"), The DIRECTV Group, Inc., a Delaware corporation ("DIRECTV"), DIRECTV, a Delaware
corporation formed as a direct, wholly-owned Subsidiary of DIRECTV ("Holdings"), Dr. John C. Malone
("Dr. Malone"), Mrs. Leslie Malone, The Tracy L. Neal Trust A (the "Tracy Trust") and The
Evan D. Malone Trust A (the "Evan Trust," and together with Dr. Malone, Mrs. Malone and the Tracy Trust, collectively, the
"Malones" and each a "Malone"). 

 
 

RECITALS    
    

        A.    Splitco,
DIRECTV, Holdings and each Malone entered into that certain Voting and Right of First Refusal Agreement, dated as of May 3, 2009 and that certain
Amendment No. 1 to the Voting and Right of First Refusal Agreement, dated as of July 29, 2009 (collectively, the "Malone Agreement"). 

        B.    Splitco,
Holdings and each Malone now intend to amend certain provisions of the Malone Agreement as set forth herein. 

        C.    Section 13(j)
of the Malone Agreement requires that prior to the Merger Effective Time, any amendment to the Malone Agreement be by written agreement of
(i) Holdings, (ii) Members holding a majority of the Member Shares, and (iii) Splitco. 

        NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of Splitco,
Holdings and each Malone hereby agrees as follows: 

        SECTION 1. Defined Terms.    Terms defined in the Malone Agreement are used in this Amendment
with the same meaning, unless otherwise indicated. 

        SECTION 2. Amendments to Malone Agreement.    The Malone Agreement is hereby amended as follows: 

        2.1   The
definition of "Malone Child Attribution Person" in Section 1 of the Malone Agreement is hereby amended by deleting such definition and replacing it in its
entirety to read as follows: 

          ""Malone Child Attribution Person" means any Person who, with respect to a Malone Child, (i) is
related to the Malone Child, as described in Section 355(d)(7)(A) of the Code, or (ii) otherwise is treated as one Person with the Malone Child for all purposes of Section 355(e)
of the Code." 

        2.2   The
definition of "Malone Related Person" in Section 1 of the Malone Agreement is hereby amended by deleting such definition and replacing it in its entirety to
read as follows: 

          ""Malone Related Person" means any Person who (i) is related to a Malone, as described in
Section 355(d)(7)(A) of the Code, or (ii) otherwise is treated as one Person with a Malone for all purposes of Section 355(e) of the Code." 

        SECTION 3. Effect on Malone Agreement.    Other than as specifically set forth herein, all other
terms and provisions of the Malone Agreement shall remain unaffected by the terms of this Amendment, and shall continue in full force and effect. 

        SECTION 4. Severability.    If any term or other provision of this Amendment is determined by a
court of competent jurisdiction to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other terms, provisions and conditions of this Amendment shall
nevertheless remain 

 

in
full force and effect. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this
Amendment so as to effect the original intent of the parties as closely as possible to the fullest extent permitted by applicable law in an acceptable manner to the end that the transactions
contemplated hereby are fulfilled to the extent possible. 

        SECTION 5. Captions.    The captions herein are included for convenience of reference only and
will be ignored in the construction or interpretation hereof. 

        SECTION 6. Counterparts.    This Amendment may be executed in counterparts (each of which shall
be deemed to be an original but all of which taken together shall constitute one and the same agreement) and shall become effective when one or more counterparts have been signed by each of the
parties and delivered to the other parties. 

        SECTION 7. Successors and Assigns.    This Amendment shall be binding upon, inure to the benefit
of, and be enforceable by, the parties hereto and their respective successors and permitted assigns, including, in the case of any Malone, any trustee, executor, heir, legatee or personal
representative succeeding to the ownership of the Malone Liberty Shares, Malone Splitco Shares and Member Shares (and any other Malone Holdings Shares) (including upon the death, disability or
incapacity of any Malone). 

        SECTION 8. Governing Law.    This amendment shall be governed by and construed in accordance with
the laws of the state of Delaware. 

        SECTION 9. Jurisdiction.    All actions and proceedings arising out of or relating to this
Amendment shall be heard and determined in the Court of Chancery of the State of Delaware, or, if the Court of
Chancery lacks subject matter jurisdiction, in any federal court sitting in the State of Delaware, and the parties hereto hereby irrevocably submit to the exclusive jurisdiction of such courts (and,
in the case of appeals, appropriate appellate courts there from) in any such action or proceeding and irrevocably waive the defense of an inconvenient forum to the maintenance of any such action or
proceeding. The consents to jurisdiction set forth in this paragraph shall not constitute general consents to service of process in the State of Delaware and shall have no effect for any purpose
except as provided in this paragraph and shall not be deemed to confer rights on any Person other than the parties hereto. The parties hereto agree that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AMENDMENT. 

[remainder
of page intentionally left blank] 

2

  
        IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first above written. 

				
	 	LIBERTY ENTERTAINMENT, INC.
	
 	
 By:	
 	
/s/ CHARLES Y. TANABE

  Name: Charles Y. Tanabe

Title: Executive Vice President
	
 	

DIRECTV
	
 	
 By:	
 	
/s/ LARRY D. HUNTER

  Name: Larry D. Hunter

Title: Chief Executive Officer
	
 	

/s/ JOHN C. MALONE

  Dr. John C. Malone, individually
	
 	

/s/ LESLIE MALONE

  Mrs. Leslie Malone, individually
	
 	

THE TRACY L. NEAL TRUST A
	
 	
 By:	
 	
/s/ DAVID THOMAS

  Name: David Thomas

Title: Trustee
	
 	

THE EVAN D. MALONE TRUST A
	
 	
 By:	
 	
/s/ DAVID THOMAS

  Name: David Thomas

Title: Trustee
	
 	

THE DIRECTV GROUP, INC.
	
 	
 By:	
 	
/s/ LARRY D. HUNTER

  Name: Larry D. Hunter

Title: Chief Executive Officer

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AMENDMENT NO. 2 TO VOTING AND RIGHT OF FIRST REFUSAL AGREEMENT

RECITALSExhibit 4.2

 

 

 

	
   

  	
  LANNETT COMPANY, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INDENTURE

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Dated
  as of              

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [              
  ]

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Trustee

  	
   

  

 

 

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  
	
  ARTICLE I. DEFINITIONS
  AND INCORPORATION BY REFERENCE

  	
  1

  
	
  Section 1.1.

  	
  Definitions

  	
  1

  
	
  Section 1.2.

  	
  Other Definitions

  	
  4

  
	
  Section 1.3.

  	
  Incorporation by
  Reference of Trust Indenture Act

  	
  5

  
	
  Section 1.4.

  	
  Rules of
  Construction

  	
  5

  
	
   

  	
   

  	
   

  
	
  ARTICLE II. THE
  SECURITIES

  	
  6

  
	
  Section 2.1.

  	
  Issuable in Series

  	
  6

  
	
  Section 2.2.

  	
  Establishment of Terms
  of Series of Securities

  	
  6

  
	
  Section 2.3.

  	
  Execution and
  Authentication

  	
  8

  
	
  Section 2.4.

  	
  Registrar and Paying
  Agent

  	
  9

  
	
  Section 2.5.

  	
  Paying Agent to Hold
  Money in Trust

  	
  10

  
	
  Section 2.6.

  	
  Securityholder Lists

  	
  10

  
	
  Section 2.7.

  	
  Transfer and Exchange

  	
  10

  
	
  Section 2.8.

  	
  Mutilated, Destroyed,
  Lost and Stolen Securities

  	
  11

  
	
  Section 2.9.

  	
  Outstanding Securities

  	
  12

  
	
  Section 2.10.

  	
  Treasury Securities

  	
  12

  
	
  Section 2.11.

  	
  Temporary Securities

  	
  12

  
	
  Section 2.12.

  	
  Cancellation

  	
  13

  
	
  Section 2.13.

  	
  Defaulted Interest

  	
  13

  
	
  Section 2.14.

  	
  Global Securities

  	
  13

  
	
  Section 2.15.

  	
  CUSIP Numbers

  	
  14

  
	
   

  	
   

  	
   

  
	
  ARTICLE III. REDEMPTION

  	
  14

  
	
  Section 3.1.

  	
  Notice to Trustee

  	
  14

  
	
  Section 3.2.

  	
  Selection of Securities
  to be Redeemed

  	
  15

  
	
  Section 3.3.

  	
  Notice of Redemption

  	
  15

  
	
  Section 3.4.

  	
  Effect of Notice of
  Redemption

  	
  16

  
	
  Section 3.5.

  	
  Deposit of Redemption
  Price

  	
  16

  
	
  Section 3.6.

  	
  Securities Redeemed in
  Part

  	
  16

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV. COVENANTS

  	
  16

  
	
  Section 4.1.

  	
  Payment of Principal
  and Interest

  	
  16

  
	
  Section 4.2.

  	
  SEC Reports

  	
  16

  
	
  Section 4.3.

  	
  Compliance Certificate

  	
  16

  
	
  Section 4.4.

  	
  Stay, Extension and
  Usury Laws

  	
  17

  
	
  Section 4.5.

  	
  Corporate Existence

  	
  17

  
	
   

  	
   

  	
   

  
	
  ARTICLE V. SUCCESSORS

  	
  17

  
	
  Section 5.1.

  	
  When Company
  May Merge, Etc.

  	
  17

  
	
  Section 5.2.

  	
  Successor Corporation
  Substituted

  	
  18

  

 

i

 

	
  ARTICLE VI. DEFAULTS
  AND REMEDIES

  	
  18

  
	
  Section 6.1.

  	
  Events of Default

  	
  18

  
	
  Section 6.2.

  	
  Acceleration of
  Maturity; Rescission and Annulment

  	
  19

  
	
  Section 6.3.

  	
  Collection of
  Indebtedness and Suits for Enforcement by Trustee

  	
  20

  
	
  Section 6.4.

  	
  Trustee May File
  Proofs of Claim

  	
  21

  
	
  Section 6.5.

  	
  Trustee
  May Enforce Claims Without Possession of Securities

  	
  21

  
	
  Section 6.6.

  	
  Application of Money
  Collected

  	
  21

  
	
  Section 6.7.

  	
  Limitation on Suits

  	
  22

  
	
  Section 6.8.

  	
  Unconditional Right of
  Holders to Receive Principal and Interest

  	
  22

  
	
  Section 6.9.

  	
  Restoration of Rights
  and Remedies

  	
  23

  
	
  Section 6.10.

  	
  Rights and Remedies
  Cumulative

  	
  23

  
	
  Section 6.11.

  	
  Delay or Omission Not
  Waiver

  	
  23

  
	
  Section 6.12.

  	
  Control by Holders

  	
  23

  
	
  Section 6.13.

  	
  Waiver of Past Defaults

  	
  24

  
	
  Section 6.14.

  	
  Undertaking for Costs

  	
  24

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII. TRUSTEE

  	
  24

  
	
  Section 7.1.

  	
  Duties of Trustee

  	
  24

  
	
  Section 7.2.

  	
  Rights of Trustee

  	
  26

  
	
  Section 7.3.

  	
  Individual Rights of
  Trustee

  	
  26

  
	
  Section 7.4.

  	
  Trustee’s Disclaimer

  	
  27

  
	
  Section 7.5.

  	
  Notice of Defaults

  	
  27

  
	
  Section 7.6.

  	
  Reports by Trustee to
  Holders

  	
  27

  
	
  Section 7.7.

  	
  Compensation and
  Indemnity

  	
  27

  
	
  Section 7.8.

  	
  Replacement of Trustee

  	
  28

  
	
  Section 7.9.

  	
  Successor Trustee by
  Merger, etc.

  	
  29

  
	
  Section 7.10.

  	
  Eligibility;
  Disqualification

  	
  29

  
	
  Section 7.11.

  	
  Preferential Collection
  of Claims Against Company

  	
  29

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII.
  SATISFACTION AND DISCHARGE; DEFEASANCE

  	
  29

  
	
  Section 8.1.

  	
  Satisfaction and
  Discharge of Indenture

  	
  29

  
	
  Section 8.2.

  	
  Application of Trust
  Funds; Indemnification

  	
  30

  
	
  Section 8.3.

  	
  Legal Defeasance of
  Securities of any Series

  	
  31

  
	
  Section 8.4.

  	
  Covenant Defeasance

  	
  33

  
	
  Section 8.5.

  	
  Repayment to Company

  	
  34

  
	
  Section 8.6.

  	
  Reinstatement

  	
  34

  
	
   

  	
   

  	
   

  
	
  ARTICLE IX. AMENDMENTS
  AND WAIVERS

  	
  34

  
	
  Section 9.1.

  	
  Without Consent of
  Holders

  	
  34

  
	
  Section 9.2.

  	
  With Consent of Holders

  	
  35

  
	
  Section 9.3.

  	
  Limitations

  	
  35

  
	
  Section 9.4.

  	
  Compliance with Trust
  Indenture Act

  	
  36

  
	
  Section 9.5.

  	
  Revocation and Effect
  of Consents

  	
  36

  
	
  Section 9.6.

  	
  Notation on or Exchange
  of Securities

  	
  36

  
	
  Section 9.7.

  	
  Trustee Protected

  	
  37

  

 

ii

 

	
  ARTICLE X. MISCELLANEOUS

  	
  37

  
	
  Section 10.1.

  	
  Trust Indenture Act
  Controls

  	
  37

  
	
  Section 10.2.

  	
  Notices

  	
  37

  
	
  Section 10.3.

  	
  Communication by
  Holders with Other Holders

  	
  38

  
	
  Section 10.4.

  	
  Certificate and Opinion
  as to Conditions Precedent

  	
  38

  
	
  Section 10.5.

  	
  Statements Required in
  Certificate or Opinion

  	
  38

  
	
  Section 10.6.

  	
  Rules by Trustee
  and Agents

  	
  38

  
	
  Section 10.7.

  	
  Legal Holidays

  	
  39

  
	
  Section 10.8.

  	
  No Recourse Against
  Others

  	
  39

  
	
  Section 10.9.

  	
  Counterparts

  	
  39

  
	
  Section 10.10.

  	
  Governing Laws

  	
  39

  
	
  Section 10.11.

  	
  No Adverse Interpretation
  of Other Agreements

  	
  39

  
	
  Section 10.12.

  	
  Successors

  	
  39

  
	
  Section 10.13.

  	
  Severability

  	
  39

  
	
  Section 10.14.

  	
  Table of Contents,
  Headings, Etc.

  	
  39

  
	
  Section 10.15.

  	
  Securities in a Foreign
  Currency or in ECU

  	
  40

  
	
  Section 10.16.

  	
  Judgment Currency

  	
  40

  
	
   

  	
   

  	
   

  
	
  ARTICLE XI. SINKING
  FUNDS

  	
  41

  
	
  Section 11.1.

  	
  Applicability of
  Article

  	
  41

  
	
  Section 11.2.

  	
  Satisfaction of Sinking
  Fund Payments with Securities

  	
  41

  
	
  Section 11.3.

  	
  Redemption of Securities for Sinking Fund

  	
  42

  

 

iii

 

LANNETT COMPANY, INC.

 

Reconciliation
and tie between Trust Indenture Act of 1939 and

Indenture, dated as of             

 

	
  § 310(a)(1)

  	
   

  	
  7.10

  
	
  (a)(2)

  	
   

  	
  7.10

  
	
  (a)(3)

  	
   

  	
  Not Applicable

  
	
  (a)(4)

  	
   

  	
  Not Applicable

  
	
  (a)(5)

  	
   

  	
  7.10

  
	
  (b)

  	
   

  	
  7.10

  
	
  § 311(a)

  	
   

  	
  7.11

  
	
  (b)

  	
   

  	
  7.11

  
	
  (c)

  	
   

  	
  Not Applicable

  
	
  § 312(a)

  	
   

  	
  2.6

  
	
  (b)

  	
   

  	
  10.3

  
	
  (c)

  	
   

  	
  10.3

  
	
  § 313(a)

  	
   

  	
  7.6

  
	
  (b)(1)

  	
   

  	
  7.6

  
	
  (b)(2)

  	
   

  	
  7.6

  
	
  (c)(1)

  	
   

  	
  7.6

  
	
  (d)

  	
   

  	
  7.6

  
	
  § 314(a)

  	
   

  	
  4.2, 10.5

  
	
  (b)

  	
   

  	
  Not Applicable

  
	
  (c)(1)

  	
   

  	
  10.4

  
	
  (c)(2)

  	
   

  	
  10.4

  
	
  (c)(3)

  	
   

  	
  Not Applicable

  
	
  (d)

  	
   

  	
  Not Applicable

  
	
  (e)

  	
   

  	
  10.5

  
	
  (f)

  	
   

  	
  Not Applicable

  
	
  § 315(a)

  	
   

  	
  7.1

  
	
  (b)

  	
   

  	
  7.5

  
	
  (c)

  	
   

  	
  7.1

  
	
  (d)

  	
   

  	
  7.1

  
	
  (e)

  	
   

  	
  6.14

  
	
  § 316(a)

  	
   

  	
  2.10

  
	
  (a)(1)(A)

  	
   

  	
  6.12

  
	
  (a)(1)(B)

  	
   

  	
  6.13

  
	
  (b)

  	
   

  	
  6.8

  
	
  § 317(a)(1)

  	
   

  	
  6.3

  
	
  (a)(2)

  	
   

  	
  6.4

  
	
  (b)

  	
   

  	
  2.5

  
	
  § 318(a)

  	
   

  	
  10.1

  

 

Note:  This
reconciliation and tie shall not, for any purpose, be deemed to be part of the
Indenture.

 

iv

 

Indenture
dated as of
                            
between Lannett Company, Inc., a Delaware corporation (“Company”), and
[                ],
a [                ]
(“Trustee”).

 

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

 

ARTICLE I.

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.1.                                   Definitions.

 

“Additional Amounts” means any additional
amounts which are required hereby or by any Security, under circumstances
specified herein or therein, to be paid by the Company in respect of certain
taxes imposed on Holders specified herein or therein and which are owing to
such Holders.

 

“Affiliate” of any specified person means
any other person directly or indirectly controlling or controlled by or under
common control with such specified person. 
For the purposes of this definition, “control” (including, with
correlative meanings, the terms “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 such person, whether through the ownership of voting securities
or by agreement or otherwise.

 

“Agent” means any Registrar, Paying Agent
or Service Agent.

 

“Board of Directors” means the Board of
Directors of the Company or any duly authorized committee thereof.

 

“Board Resolution” means a copy of a
resolution certified by the Secretary or an Assistant Secretary of the Company
to have been adopted by the Board of Directors or pursuant to authorization by
the Board of Directors and to be in full force and effect on the date of the
certificate and delivered to the Trustee.

 

“Business Day” means, unless otherwise
provided by Board Resolution, Officers’ Certificate or supplemental indenture
hereto for a particular Series, any day except a Saturday, Sunday or a legal
holiday in The City of New York on which banking institutions are authorized or
required by law, regulation or executive order to close.

 

“Capital Stock” means any and all shares,
interests, participations, rights or other equivalents (however designated) of
corporate stock.

 

“Company” means the party named as such
above until a successor replaces it and thereafter means the successor.

 

“Company Order” means a written order
signed in the name of the Company by two Officers, one of whom must be the
Company’s principal executive officer, principal financial officer or principal
accounting officer.

 

 

“Company Request” means a written request
signed in the name of the Company by its Chief Executive Officer, the President
or a Vice President, and by its Treasurer, an Assistant Treasurer, its
Secretary or an Assistant Secretary, and delivered to the Trustee.

 

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

 

“Default” means any event which is, or
after notice or passage of time or both would be, an Event of Default.

 

“Depositary” means, with respect to the
Securities of any Series issuable or issued in whole or in part in the
form of one or more Global Securities, the person designated as Depositary for
such Series by the Company, which Depositary shall be a clearing agency
registered under the Exchange Act; and if at any time there is more than one
such person, “Depositary” as used with respect to the Securities of any
Series shall mean the Depositary with respect to the Securities of such
Series.

 

“Discount Security” means any Security that
provides for an amount less than the stated principal amount thereof to be due
and payable upon declaration of acceleration of the maturity thereof pursuant
to Section 6.2.

 

“Dollars” and “$” means the currency of The United States of America.

 

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

 

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

 

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

 

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

 

“GAAP” means accounting principles generally accepted in the United States of
America 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
such other statements by such other entity as have been approved by a
significant segment of the accounting profession, which are in effect as of the
date of determination.

 

“Global Security” or “Global Securities” means a Security or
Securities, as the case may be, in the form established pursuant to
Section 2.2 evidencing all or part of a Series of 

 

2

 

Securities, issued to the
Depositary for such Series or its nominee, and registered in the name of
such Depositary or nominee.

 

“Holder” or “Securityholder” means a person in whose name a Security is
registered.

 

“Indenture” means this Indenture as amended
or supplemented from time to time and shall include the form and terms of
particular Series of Securities established as contemplated hereunder.

 

“interest” with respect to any Discount
Security which by its terms bears interest only after Maturity, means interest
payable after Maturity.

 

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

 

“Officer” means the Chief Executive
Officer, President, any Vice-President, the Treasurer, the Secretary, any
Assistant Treasurer or any Assistant Secretary of the Company.

 

“Officers’ Certificate” means a certificate
signed by two Officers, one of whom must be the Company’s principal executive
officer, principal financial officer or principal accounting officer.

 

“Opinion of Counsel” means a written
opinion of legal counsel who is acceptable to the Trustee.  The counsel may be an employee of or counsel
to the Company.

 

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

 

“principal” of a Security means the
principal of the Security plus, when appropriate, the premium, if any, on, and
any Additional Amounts in respect of, the Security.

 

“Responsible Officer” means any officer of
the Trustee in its Corporate Trust Office and also means, with respect to a
particular corporate trust matter, any other officer to whom any corporate
trust matter is referred because of his or her knowledge of and familiarity
with a particular subject.

 

“SEC” means the Securities and Exchange
Commission.

 

“Securities” means the debentures, notes or
other debt instruments of the Company of any Series authenticated and
delivered under this Indenture.

 

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

 

3

 

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

 

“Subsidiary” of any specified person means
any corporation, association or other business entity of which more than 50% of
the total voting power of shares of Capital Stock entitled (without regard to
the occurrence of any contingency) to vote in the election of directors,
managers or trustees thereof is at the time owned or controlled, directly or
indirectly, by such person or one or more of the other Subsidiaries of that
person or a combination thereof.

 

 “TIA”
means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as in
effect on the date of this Indenture; provided, however, that in
the event the Trust Indenture Act of 1939 is amended after such date, “TIA”
means, to the extent required by any such amendment, the Trust Indenture Act as
so amended.

 

“Trustee” means the person named as the
“Trustee” in the first paragraph of this instrument until a successor Trustee
shall have become such pursuant to the applicable provisions of this Indenture,
and thereafter “Trustee” shall mean or include each person who is then a
Trustee hereunder, and if at any time there is more than one such person,
“Trustee” as used with respect to the Securities of any Series shall mean
the Trustee with respect to Securities of that Series.

 

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

 

Section 1.2.                                   Other Definitions.

 

	
   

  	
   

  	
  DEFINED IN

  	
   

  
	
  TERM

  	
   

  	
  SECTION

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  “Bankruptcy Law”

  	
   

  	
  6.

  	
  1

  	
   

  
	
  “Custodian”

  	
   

  	
  6.

  	
  1

  	
   

  
	
  “Event of Default”

  	
   

  	
  6.

  	
  1

  	
   

  
	
  “Journal”

  	
   

  	
  10.

  	
  15

  	
   

  
	
  “Judgment Currency”

  	
   

  	
  10.

  	
  16

  	
   

  
	
  “Legal Holiday”

  	
   

  	
  10.

  	
  7

  	
   

  

 

4

 

	
  “mandatory sinking fund payment”

  	
   

  	
  11.

  	
  1

  	
   

  
	
  “Market Exchange Rate”

  	
   

  	
  10.

  	
  15

  	
   

  
	
  “New York Banking Day”

  	
   

  	
  10.

  	
  16

  	
   

  
	
  “optional sinking fund payment”

  	
   

  	
  11.

  	
  1

  	
   

  
	
  “Paying Agent”

  	
   

  	
  2.

  	
  4

  	
   

  
	
  “Registrar”

  	
   

  	
  2.

  	
  4

  	
   

  
	
  “Required Currency”

  	
   

  	
  10.

  	
  16

  	
   

  
	
  “Service Agent”

  	
   

  	
  2.

  	
  4

  	
   

  
	
  “successor person”

  	
   

  	
  5.

  	
  1

  	
   

  

 

Section 1.3.                                   Incorporation by Reference of Trust Indenture Act.

 

Whenever
this Indenture refers to a provision of the TIA, the provision is incorporated
by reference in and made a part of this Indenture.  The following TIA terms used in this
Indenture have the following meanings:

 

“Commission” means the SEC.

 

“indenture securities” means the
Securities.

 

“indenture security holder” means a
Securityholder.

 

“indenture to be qualified” means this
Indenture.

 

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

 

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

 

All
other terms used in this Indenture that are defined by the TIA, defined by TIA
reference to another statute or defined by SEC rule under the TIA and not
otherwise defined herein are used herein as so defined.

 

Section 1.4.                                   Rules of Construction.

 

Unless
the context otherwise requires:

 

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

 

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

 

(c)                                  “or”
is not exclusive;

 

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

 

(e)                                  provisions apply to successive events and
transactions.

 

5

 

ARTICLE II.

THE SECURITIES

 

Section 2.1.                                   Issuable in Series.

 

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

 

Section 2.2.                                   Establishment of Terms of Series of
Securities.

 

At or prior to the issuance of any Securities within a Series, the
following shall be established (as to the Series generally, in the case of
Subsection 2.2.1 and either as to such Securities within the Series or as
to the Series generally in the case of Subsections 2.2.2 through 2.2.23)
by or pursuant to a Board Resolution, and set forth or determined in the manner
provided in a Board Resolution, supplemental indenture or Officers’
Certificate:

 

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

 

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

 

2.2.3.                                             any limit upon the aggregate principal
amount of the Securities of the Series which may be authenticated and
delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Securities of the Series pursuant to Section 2.7, 2.8, 2.11,
3.6 or 9.6);

 

2.2.4.                                             the date or dates on which the principal
of the Securities of the Series is payable;

 

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

 

2.2.6.                                             the place or places where the principal
of and interest, if any, on the Securities of the Series shall be payable,
where the Securities of such Series may be surrendered 

 

6

 

for registration of transfer or exchange and where notices and demands
to or upon the Company in respect of the Securities of such Series and
this Indenture may be served, and the method of such payment, if by wire
transfer, mail or other means;

 

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

 

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

 

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

 

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

 

2.2.11.                                       the forms of the Securities of the Series and
whether the Securities will be issuable as Global Securities;

 

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

 

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

 

2.2.14.                                       the designation of the currency, currencies or
currency units in which payment of the principal of and interest, if any, on
the Securities of the Series will be made;

 

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

 

2.2.16.                                       the manner in which the amounts of payment of
principal of or interest, if any, on the Securities of the Series will be
determined, if such amounts may be determined by reference to an index based on
a currency or currencies or by reference to a commodity, commodity index, stock
exchange index or financial index;

 

2.2.17.                                       the provisions, if any, relating to any security
provided for the Securities of the Series;

 

7

 

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

 

2.2.19.                                       any addition to or change in the covenants set forth
in Articles IV or V which applies to Securities of the Series;

 

2.2.20.                                       any other terms of the Securities of the Series (which
may supplement, modify or delete any provision of this Indenture insofar as it
applies to such Series);

 

2.2.21.                                       any depositaries, interest rate calculation agents,
exchange rate calculation agents or other agents with respect to Securities of
such Series if other than those appointed herein;

 

2.2.22.                                       the provisions, if any, relating to conversion of any
Securities of such Series, including if applicable, the conversion price, the
conversion period, provisions as to whether conversion will be mandatory, at
the option of the Holders thereof or at the option of the Company, the events
requiring an adjustment of the conversion price and provisions affecting
conversion if such Series of Securities are redeemed; and

 

2.2.23.                                       whether the Securities of such Series will be
senior debt securities or subordinated debt securities and, if applicable, a
description of the subordination terms thereof.

 

All Securities of any one Series need not be issued at the same
time and may be issued from time to time, consistent with the terms of this
Indenture, if so provided by or pursuant to the Board Resolution, supplemental
indenture hereto or Officers’ Certificate referred to above.

 

Section 2.3.                                   Execution and Authentication.

 

Two Officers shall sign the Securities for the Company by manual or
facsimile signature.

 

If an Officer whose signature is on a Security no longer holds that
office at the time the Security is authenticated, the Security shall
nevertheless be valid.

 

A Security shall not be valid until authenticated by the manual
signature of the Trustee or an authenticating agent.  The signature shall be conclusive evidence
that the Security has been authenticated under this Indenture.

 

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

 

8

 

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

 

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

 

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

 

The Trustee may appoint an authenticating agent acceptable to the
Company to authenticate Securities.  An
authenticating agent may authenticate Securities whenever the Trustee may do
so.  Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent.  An authenticating agent has the same rights
as an Agent to deal with the Company or an Affiliate of the Company.

 

Section 2.4.                                   Registrar and Paying Agent.

 

The Company shall maintain, with respect to each Series of
Securities, at the place or places specified with respect to such Series pursuant
to Section 2.2, an office or agency where Securities of such Series may
be presented or surrendered for payment (“Paying Agent”),
where Securities of such Series may be surrendered for registration of
transfer or exchange (“Registrar”) and
where notices and demands to or upon the Company in respect of the Securities
of such Series and this Indenture may be served (“Service
Agent”).  The Registrar shall
keep a register with respect to each Series of Securities and to their
transfer and exchange.  The Company will
give prompt written notice to the Trustee of the name and address, and any
change in the name or address, of each Registrar, Paying Agent or Service Agent.  If at any time the Company shall fail to
maintain any such required Registrar, Paying Agent or Service Agent or shall
fail to furnish the Trustee with the name and address thereof, such
presentations, surrenders, notices and demands may be made or served at the
Corporate Trust Office of the Trustee, and the Company hereby appoints the
Trustee as its agent to receive all such presentations, surrenders, notices and
demands.

 

The Company may also from time to time designate one or more
co-registrars, additional paying agents or additional service agents and may
from time to time rescind such designations; provided, however,
that no such designation or rescission shall in any manner relieve the Company
of its obligations to maintain a Registrar, Paying Agent and Service Agent in
each place so specified pursuant to Section 2.2 for Securities of any Series for
such purposes.  

 

9

 

The Company will give prompt written notice to the
Trustee of any such designation or rescission and of any change in the name or
address of any such co-registrar, additional paying agent or additional service
agent.  The term “Registrar”
includes any co-registrar; the term “Paying Agent”
includes any additional paying agent; and the term “Service
Agent” includes any additional service agent.

 

The Company hereby appoints the Trustee the initial Registrar, Paying
Agent and Service Agent for each Series unless another Registrar, Paying
Agent or Service Agent, as the case may be, is appointed prior to the time
Securities of that Series are first issued.

 

Section 2.5.                                   Paying Agent to Hold Money in Trust.

 

The Company shall require each Paying Agent other than the Trustee to
agree in writing that the Paying Agent will hold in trust, for the benefit of
Securityholders of any Series of Securities, or the Trustee, all money
held by the Paying Agent for the payment of principal of or interest on the Series of
Securities, and will notify the Trustee of any default by the Company in making
any such payment.  While any such default
continues, the Trustee may require a Paying Agent to pay all money held by it
to the Trustee.  The Company at any time
may require a Paying Agent to pay all money held by it to the Trustee.  Upon payment over to the Trustee, the Paying
Agent (if other than the Company or a Subsidiary of the Company) shall have no
further liability for the money.  If the
Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate
and hold in a separate trust fund for the benefit of Securityholders of any Series of
Securities all money held by it as Paying Agent.

 

Section 2.6.                                   Securityholder Lists.

 

The Trustee shall preserve in as current a form as is reasonably
practicable the most recent list available to it of the names and addresses of
Securityholders of each Series of Securities and shall otherwise comply
with TIA  § 312(a).  If the Trustee is not the Registrar, the
Company shall furnish to the Trustee at least ten 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 as the Trustee may reasonably require,
of the names and addresses of Securityholders of each Series of
Securities.

 

Section 2.7.                                   Transfer and Exchange.

 

Where Securities of a Series are presented to the Registrar or a
co-registrar with a request to register a transfer or to exchange them for an
equal principal amount of Securities of the same Series, the Registrar shall
register the transfer or make the exchange if its requirements for such
transactions are met.  To permit
registrations of transfers and exchanges, the Trustee shall authenticate
Securities at the Registrar’s request. 
No service charge shall be made for any registration of transfer or
exchange (except as otherwise expressly permitted herein), but the Company 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 tax or similar governmental charge payable upon exchanges pursuant to
Sections 2.11, 3.6 or 9.6).

 

Neither the Company nor the Registrar shall be required (a) to
issue, register the transfer of, or exchange Securities of any Series for
the period beginning at the opening of 

 

10

 

business fifteen days immediately preceding the
mailing of a notice of redemption of Securities of that Series selected
for redemption and ending at the close of business on the day of such mailing,
or (b) to register the transfer of or exchange Securities of any Series selected,
called or being called for redemption as a whole or the portion being redeemed
of any such Securities selected, called or being called for redemption in part.

 

Section 2.8.                                   Mutilated, Destroyed, Lost and Stolen
Securities.

 

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

 

If there shall be delivered to the Company and the Trustee (i) evidence
to their satisfaction of the destruction, loss or theft of any Security and (ii) such
security or indemnity as may be required by them to save each of them and any
agent of either of them harmless, then, in the absence of notice to the Company
or the Trustee that such Security has been acquired by a bona fide purchaser,
the Company shall execute and upon its request the Trustee shall authenticate
and make available for delivery, in lieu of any such destroyed, lost or stolen
Security, a new Security of the same Series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding.

 

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

 

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

 

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

 

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

 

11

 

Section 2.9.                                   Outstanding Securities.

 

The Securities outstanding at any time are all the Securities
authenticated by the Trustee except for those canceled by it, those delivered
to it for cancellation, those reductions in the interest on a Global Security
effected by the Trustee in accordance with the provisions hereof and those
described in this Section as not outstanding.

 

If a Security is replaced pursuant to Section 2.8, it ceases to be
outstanding until the Trustee receives proof satisfactory to it that the
replaced Security is held by a bona fide purchaser.

 

If the Paying Agent (other than the Company, a Subsidiary of the
Company or an Affiliate of the Company) holds on the Maturity of Securities of
a Series money sufficient to pay such Securities payable on that date,
then on and after that date such Securities of the Series cease to be
outstanding and interest on them ceases to accrue.

 

A Security does not cease to be outstanding because the Company or an
Affiliate of the Company holds the Security.

 

In determining whether the Holders of the requisite principal amount of
outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, the principal amount of a
Discount Security that shall be deemed to be outstanding for such purposes
shall be the amount of the principal thereof that would be due and payable as
of the date of such determination upon a declaration of acceleration of the
Maturity thereof pursuant to Section 6.2.

 

Section 2.10.                             Treasury Securities.

 

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

 

Section 2.11.                             Temporary Securities.

 

Until definitive Securities are ready for delivery, the Company may
prepare and the Trustee shall authenticate temporary Securities upon a Company
Order.  Temporary Securities shall be
substantially in the form of definitive Securities but may have variations that
the Company considers appropriate for temporary Securities.  Without unreasonable delay, the Company shall
prepare and the Trustee upon request shall authenticate definitive Securities
of the same Series and date of maturity in exchange for temporary
Securities.  Until so exchanged,
temporary securities shall have the same rights under this Indenture as the
definitive Securities.

 

12

 

Section 2.12.                             Cancellation.

 

The Company at any time may deliver Securities to the
Trustee for cancellation.  The Registrar
and the Paying Agent shall forward to the Trustee any Securities surrendered to
them for registration of transfer, exchange or payment.  The Trustee shall cancel all Securities
surrendered for transfer, exchange, payment, replacement or cancellation and
shall destroy such canceled Securities (subject to the record retention
requirement of the Exchange Act) and deliver a certificate of such destruction
to the Company, unless the Company otherwise directs.  The Company may not issue new Securities to
replace Securities that it has paid or delivered to the Trustee for
cancellation.

 

Section 2.13.                             Defaulted Interest.

 

If the Company defaults
in a payment of interest on a Series of Securities, it shall pay the
defaulted interest, plus, to the extent permitted by law, any interest payable
on the defaulted interest, to the persons who are Securityholders of the
Series on a subsequent special record date.  The Company shall fix the record date and
payment date.  At least 10 days before
the record date, the Company shall mail to the Trustee and to each
Securityholder of the Series a notice that states the record date, the
payment date and the amount of interest to be paid.  The Company may pay defaulted interest in any
other lawful manner.

 

Section 2.14.                             Global Securities.

 

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

 

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

 

Except as provided in
this Section 2.14.2, a Global Security may not be transferred except as a
whole by the Depositary with respect to such Global Security to a nominee of
such Depositary, by a nominee of such Depositary to such Depositary or another
nominee of such Depositary or by the Depositary or any such nominee to a
successor Depositary or a nominee of such a successor Depositary.

 

13

 

2.14.3.                                       Legend.  Any Global
Security issued hereunder shall bear a legend in substantially the following
form:

 

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

 

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

 

2.14.5.                                       Payments. 
Notwithstanding the other provisions of this Indenture, unless otherwise
specified as contemplated by Section 2.2, payment of the principal of and
interest, if any, on any Global Security shall be made to the Holder thereof.

 

2.14.6.                                       Consents, Declaration and Directions. 
Except as provided in Section 2.14.5, the Company, the Trustee and
any Agent shall treat a person as the Holder of such principal amount of
outstanding Securities of such Series represented by a Global Security as
shall be specified in a written statement of the Depositary with respect to
such Global Security, for purposes of obtaining any consents, declarations,
waivers or directions required to be given by the Holders pursuant to this
Indenture.

 

Section 2.15.                             CUSIP Numbers.

 

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

 

ARTICLE III.

REDEMPTION

 

Section 3.1.                                   Notice to Trustee.

 

The Company may, with
respect to any Series of Securities, reserve the right to redeem and pay
the Series of Securities or may covenant to redeem and pay the
Series of Securities or any part thereof prior to the Stated Maturity
thereof at such time and on such terms as provided for in such Securities.  If a Series of Securities is redeemable
and the Company wants or is obligated to redeem prior to the Stated Maturity
thereof all or part of the Series of

 

14

 

Securities pursuant to
the terms of such Securities, it shall notify the Trustee of the redemption
date and the principal amount of Series of Securities to be redeemed.  The Company shall give the notice at least 30
days before the redemption date (or such shorter notice as may be acceptable to
the Trustee).

 

Section 3.2.                                   Selection of Securities to be Redeemed.

 

Unless otherwise
indicated for a particular Series by a Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate, if less than all the Securities
of a Series are to be redeemed, the Trustee shall select the Securities of
the Series to be redeemed in any manner that the Trustee deems fair and
appropriate.  The Trustee shall make the
selection from Securities of the Series outstanding not previously called
for redemption.  The Trustee may select
for redemption portions of the principal of Securities of the Series that
have denominations larger than $1,000. 
Securities of the Series and portions of them it selects shall be
in amounts of $1,000 or whole multiples of $1,000 or, with respect to
Securities of any Series issuable in other denominations pursuant to
Section 2.2.10, the minimum principal denomination for each
Series and integral multiples thereof. 
Provisions of this Indenture that apply to Securities of a
Series called for redemption also apply to portions of Securities of that
Series called for redemption.

 

Section 3.3.                                   Notice of Redemption.

 

Unless otherwise
indicated for a particular Series by Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate, at least 15 days but not more
than 60 days before a redemption date, the Company shall mail a notice of
redemption by first-class mail to each Holder whose Securities are to be
redeemed.

 

The notice shall identify
the Securities of the Series to be redeemed and shall state:

 

(a)                                  the redemption date;

 

(b)                                 the redemption price;

 

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

 

(d)                                 that Securities of the Series called
for redemption must be surrendered to the Paying Agent to collect the
redemption price;

 

(e)                                  that interest on Securities of the
Series called for redemption ceases to accrue on and after the redemption
date;

 

(f)                                    the CUSIP number, if any; and

 

(g)                                 any other information as may be required
by the terms of the particular Series or the Securities of a
Series being redeemed.

 

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

 

15

 

Section 3.4.                                   Effect of Notice of Redemption.

 

Once notice of redemption
is mailed or published as provided in Section 3.3, Securities of a
Series called for redemption become due and payable on the redemption date
and at the redemption price.  A notice of
redemption may not be conditional.  Upon
surrender to the Paying Agent, such Securities shall be paid at the redemption
price plus accrued interest to the redemption date.

 

Section 3.5.                                   Deposit of Redemption Price.

 

On or before
10:00 a.m., New York City time, on the redemption date, the Company shall
deposit with the Paying Agent money sufficient to pay the redemption price of
and accrued interest, if any, on all Securities to be redeemed on that date.

 

Section 3.6.                                   Securities Redeemed in Part.

 

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

 

ARTICLE IV.

COVENANTS

 

Section 4.1.                                   Payment of Principal and Interest.

 

The Company covenants and agrees for the benefit of
the Holders of each Series of Securities that it will duly and punctually
pay the principal of and interest, if any, on the Securities of that
Series in accordance with the terms of such Securities and this Indenture.

 

Section 4.2.                                   SEC Reports.

 

The Company shall deliver
to the Trustee within 15 days after it files them with the SEC copies of the
annual reports and of the information, documents, and other reports (or copies
of such portions of any of the foregoing as the SEC may by rules and
regulations prescribe) which the Company is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act.  The Company also shall comply with the other
provisions of TIA § 314(a).

 

Section 4.3.                                   Compliance Certificate.

 

The Company shall deliver
to the Trustee, within 120 days after the end of each fiscal year of the
Company, an Officers’ Certificate stating that a review of the activities of
the Company and its Subsidiaries during the preceding fiscal year has been made
under the supervision of the signing Officers with a view to determining
whether the Company has kept, observed, performed and fulfilled its obligations
under this Indenture, and further stating, as to each such Officer signing such
certificate, that to the best of his/her knowledge the Company has kept,
observed, performed and fulfilled each and every covenant contained in this
Indenture and is not in default in the performance or observance of any of the
terms, provisions and conditions

 

16

 

hereof (or, if a Default
or Event of Default shall have occurred, describing all such Defaults or Events
of Default of which he may have knowledge).

 

The Company will, so long
as any of the Securities are outstanding, deliver to the Trustee, promptly upon
becoming aware of any Default or Event of Default, an Officers’ Certificate
specifying such Default or Event of Default and what action the Company is
taking or proposes to take with respect thereto.

 

Section 4.4.                                   Stay, Extension and Usury Laws.

 

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

 

Section 4.5.                                   Corporate Existence.

 

Subject to
Article V, the Company will do or cause to be done all things necessary to
preserve and keep in full force and effect its corporate existence and rights
(charter and statutory); provided, however, that the Company shall not be
required to preserve any such right if the Board of Directors shall determine
that the preservation thereof is no longer desirable in the conduct of the
business of the Company and its Subsidiaries taken as a whole and that the loss
thereof is not adverse in any material respect to the Holders.

 

ARTICLE V.

SUCCESSORS

 

Section 5.1.                                   When Company May Merge, Etc.

 

The Company shall not
consolidate with or merge with or into, or convey, transfer or lease all or
substantially all of its properties and assets to, any person (a “successor person”) unless:

 

(a)                                  the Company is the surviving corporation
or the successor person (if other than the Company) is a corporation organized
and validly existing under the laws of any U.S. domestic jurisdiction and
expressly assumes the Company’s obligations on the Securities and under this
Indenture; and

 

(b)                                 immediately after giving effect to the
transaction, no Default or Event of Default, shall have occurred and be
continuing.

 

The Company shall deliver
to the Trustee prior to the consummation of the proposed transaction an
Officers’ Certificate to the foregoing effect and an Opinion of Counsel stating
that the proposed transaction and any supplemental indenture comply with this
Indenture.

 

17

 

Notwithstanding the
above, any Subsidiary of the Company may consolidate with, merge into or
transfer all or part of its properties to the Company. Neither an Officers’
Certificate nor an Opinion of Counsel shall be required to be delivered in
connection therewith.

 

Section 5.2.                                   Successor Corporation Substituted.

 

Upon any consolidation or
merger, or any sale, lease, conveyance or other disposition of all or
substantially all of the assets of the Company in accordance with
Section 5.1, the successor corporation formed by such consolidation or
into or with which the Company is merged or to which such sale, lease,
conveyance or other disposition is made shall succeed to, and be substituted
for, and may exercise every right and power of, the Company under this
Indenture with the same effect as if such successor person has been named as
the Company herein; provided, however, that the predecessor
Company in the case of a sale, conveyance or other disposition (other than a
lease) shall be released from all obligations and covenants under this Indenture
and the Securities.

 

ARTICLE VI.

DEFAULTS AND REMEDIES

 

Section 6.1.                                   Events of Default.

 

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

 

(a)                                  default in the payment of any interest on
any Security of that Series when it becomes due and payable, and continuance
of such default for a period of 30 days (unless the entire amount of such
payment is deposited by the Company with the Trustee or with a Paying Agent
prior to the expiration of such period of 30 days); or

 

(b)                                 default in the payment of principal of
any Security of that Series at its Maturity; or

 

(c)                                  default in the performance or breach of
any covenant or warranty of the Company in this Indenture (other than a
covenant or warranty that has been included in this Indenture solely for the
benefit of Series of Securities other than that Series), which default
continues uncured for a period of 60 days after there has been given, by
registered or certified mail, to the Company by the Trustee or to the Company
and the Trustee by the Holders of at least 25% in principal amount of the
outstanding Securities of that Series a written notice specifying such
default or breach and requiring it to be remedied and stating that such notice
is a “Notice of Default” hereunder; or

 

(d)                                 the Company pursuant to or within the
meaning of any Bankruptcy Law:

 

(i)                                     commences a voluntary case,

 

18

 

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

 

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

 

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

 

(v)                                 generally is unable to pay its debts as
the same become due; or

 

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

 

(i)                                     is for relief against the Company in an
involuntary case,

 

(ii)                                  appoints a Custodian of the Company or
for all or substantially all of its property, or

 

(iii)                               orders the liquidation of the Company,

 

and the order or decree
remains unstayed and in effect for 60 days; or

 

(f)                                    any other Event of Default provided with
respect to Securities of that Series, which is specified in a Board Resolution,
a supplemental indenture hereto or an Officers’ Certificate, in accordance with
Section 2.2.18.

 

The term “Bankruptcy Law” means title 11, U.S. Code
or any similar Federal or State law for the relief of debtors.  The term “Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law.

 

Section 6.2.                                   Acceleration of Maturity; Rescission and Annulment.

 

If an Event of Default
with respect to Securities of any Series at the time outstanding occurs
and is continuing (other than an Event of Default referred to in
Section 6.1(d) or (e)) then in every such case the Trustee or the
Holders of not less than 25% in principal amount of the outstanding Securities
of that Series may declare the principal amount (or, if any Securities of
that Series are Discount Securities, such portion of the principal amount
as may be specified in the terms of such Securities) of and accrued and unpaid
interest, if any, on all of the Securities of that Series to be due and
payable immediately, by a notice in writing to the Company (and to the Trustee
if given by Holders), and upon any such declaration such principal amount (or
specified amount) and accrued and unpaid interest, if any, shall become
immediately due and payable.  If an Event
of Default specified in Section 6.1(d) or (e) shall occur, the
principal amount (or specified amount) of and accrued and unpaid interest, if
any, on all outstanding Securities shall ipso
facto become and be immediately due and payable without any
declaration or other act on the part of the Trustee or any Holder.

 

At any time after such a
declaration of acceleration with respect to any Series has been made and
before a judgment or decree for payment of the money due has been obtained by

 

19

 

the Trustee as
hereinafter in this Article provided, the Holders of a majority in
principal amount of the outstanding Securities of that Series, by written
notice to the Company and the Trustee, may rescind and annul such declaration
and its consequences if all Events of Default with respect to Securities of that
Series, other than the non-payment of the principal and interest, if any, of
Securities of that Series which have become due solely by such declaration
of acceleration, have been cured or waived as provided in Section 6.13.

 

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

 

Section 6.3.                                   Collection of Indebtedness and Suits for Enforcement
by Trustee.

 

The Company covenants
that if

 

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

 

(b)                                 default is made in the payment of
principal of any Security at the Maturity thereof, or

 

(c)                                  default is made in the deposit of any
sinking fund payment when and as due by the terms of a Security,

 

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

 

If the Company fails to
pay such amounts forthwith upon such demand, the Trustee, in its own name and as
trustee of an express trust, may institute a judicial proceeding for the
collection of the sums so due and unpaid, may prosecute such proceeding to
judgment or final decree and may enforce the same against the Company or any
other obligor upon such Securities and collect the moneys adjudged or deemed to
be payable in the manner provided by law out of the property of the Company or
any other obligor upon such Securities, wherever situated.

 

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

 

20

 

Section 6.4.            Trustee
May File Proofs of Claim.

 

In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to the Company or any other
obligor upon the Securities or the property of the Company or of such other
obligor or their creditors, the Trustee (irrespective of whether the principal
of the Securities shall then be due and payable as therein expressed or by
declaration or otherwise and irrespective of whether the Trustee shall have
made any demand on the Company for the payment of overdue principal or
interest) shall be entitled and empowered, by intervention in such proceeding
or otherwise,

 

(a)           to
file and prove a claim for the whole amount of principal and interest owing and
unpaid in respect of the Securities 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 the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel) and of the Holders allowed
in such judicial proceeding, and

 

(b)           to
collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute the same,

 

and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due it for
the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.7.

 

Nothing herein contained shall be deemed to authorize
the Trustee to authorize or consent to or accept or adopt on behalf of any
Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Securities or the rights of any Holder thereof or to authorize
the Trustee to vote in respect of the claim of any Holder in any such
proceeding.

 

Section 6.5.            Trustee
May Enforce Claims Without Possession of Securities.

 

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

 

Section 6.6.            Application
of Money Collected.

 

Any money collected by
the Trustee pursuant to this Article shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the
distribution of such 

 

21

 

money on account
of principal or interest, upon presentation of the Securities and the notation
thereon of the payment if only partially paid and upon surrender thereof if
fully paid:

 

First:                       To the payment of all
amounts due the Trustee under Section 7.7; and

 

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

 

Third:                     To the Company.

 

Section 6.7.            Limitation
on Suits.

 

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

 

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

 

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

 

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

 

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

 

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

 

it being understood and intended that no one or more
of such Holders shall have any right in any manner whatever by virtue of, or by
availing of, any provision of this Indenture to affect, disturb or prejudice
the rights of any other of such Holders, or to obtain or to seek to obtain
priority or preference over any other of such Holders or to enforce any right
under this Indenture, except in the manner herein provided and for the equal
and ratable benefit of all such Holders.

 

Section 6.8.            Unconditional
Right of Holders to Receive Principal and Interest.

 

Notwithstanding any other provision in this Indenture,
the Holder of any Security shall have the right, which is absolute and
unconditional, to receive payment of the principal of and interest, if any, on
such Security on the Stated Maturity or Stated Maturities expressed in such
Security (or, in the case of redemption, on the redemption date) and to
institute suit for the 

 

22

 

enforcement of any such
payment, and such rights shall not be impaired without the consent of such
Holder.

 

Section 6.9.            Restoration
of Rights and Remedies.

 

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

 

Section 6.10.          Rights
and Remedies Cumulative.

 

Except as otherwise provided with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.8,
no right or remedy herein conferred upon or reserved to the Trustee or to the
Holders is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. 
The assertion or employment of any right or remedy hereunder, or
otherwise, shall not, to the extent permitted by law, prevent the concurrent
assertion or employment of any other appropriate right or remedy.

 

Section 6.11.          Delay
or Omission Not Waiver.

 

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

 

Section 6.12.          Control
by Holders.

 

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

 

(a)           such
direction shall not be in conflict with any rule of law or with this
Indenture,

 

(b)           the
Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction, and

 

(c)           subject
to the provisions of Section 6.1, the Trustee shall have the right to
decline to follow any such direction if the Trustee in good faith shall, by a
Responsible 

 

23

 

Officer of the Trustee, determine that the proceeding so directed would
involve the Trustee in personal liability.

 

Section 6.13.          Waiver
of Past Defaults.

 

The Holders of not less than a majority in principal
amount of the outstanding Securities of any Series may on behalf of the
Holders of all the Securities of such Series waive any past Default
hereunder with respect to such Series and its consequences, except a Default
in the payment of the principal of or interest on any Security of such Series (provided,
however, that the Holders of a majority in principal amount of the outstanding
Securities of any Series may rescind an acceleration and its consequences,
including any related payment default that resulted from such
acceleration).  Upon any such waiver,
such Default shall cease to exist, and any Event of Default arising therefrom
shall be deemed to have been cured, for every purpose of this Indenture; but no
such waiver shall extend to any subsequent or other Default or impair any right
consequent thereon.

 

Section 6.14.          Undertaking
for Costs.

 

All parties to this Indenture agree, and each Holder
of any Security by his acceptance thereof shall be deemed to have agreed, that
any court may in its discretion require, in any suit for the enforcement of any
right or remedy under this Indenture, or in any suit against the Trustee for
any action taken, suffered or omitted by it as Trustee, the filing by 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, 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 Company, 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 principal amount of the outstanding Securities of any Series, or to
any suit instituted by any Holder for the enforcement of the payment of the
principal of or interest on any Security on or after the Stated Maturity or
Stated Maturities expressed in such Security (or, in the case of redemption, on
the redemption date).

 

ARTICLE VII.

TRUSTEE

 

Section 7.1.            Duties
of Trustee.

 

(a)           If
an Event of Default has occurred and is continuing, the Trustee shall exercise
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 man would exercise or use under
the circumstances in the conduct of his own affairs.

 

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

 

(i)            The
Trustee need perform only those duties that are specifically set forth in this
Indenture and no others.

 

24

 

(ii)           In
the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed
therein, upon Officers’ Certificates or Opinions of Counsel furnished to the
Trustee and conforming to the requirements of this Indenture; however,
in the case of any such Officers’ Certificates or Opinions of Counsel which by
any provisions hereof are specifically required to be furnished to the Trustee,
the Trustee shall examine such Officers’ Certificates and Opinions of Counsel
to determine whether or not they conform to the requirements of this Indenture.

 

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

 

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

 

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

 

(iii)          The
Trustee shall not be liable with respect to any action taken, suffered or
omitted to be taken by it with respect to Securities of any Series in good
faith in accordance with the direction of the Holders of a majority in
principal amount of the outstanding Securities of such Series 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 with respect to the Securities of such Series.

 

(d)           Every
provision of this Indenture that in any way relates to the Trustee is subject
to paragraph (a), (b) and (c) of this Section.

 

(e)           The
Trustee may refuse to perform any duty or exercise any right or power unless it
receives indemnity satisfactory to it against any loss, liability or expense.

 

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

 

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

 

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

 

25

 

Section 7.2.            Rights
of Trustee.

 

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

 

(b)           Before
the Trustee acts or refrains from acting, it may require an Officers’
Certificate or an Opinion of Counsel. 
The Trustee shall not be liable for any action it takes or omits to take
in good faith in reliance on such Officers’ Certificate or Opinion of Counsel.

 

(c)           The
Trustee may act through agents and shall not be responsible for the misconduct
or negligence of any agent appointed with due care.  No Depositary shall be deemed an agent of the
Trustee and the Trustee shall not be responsible for any act or omission by any
Depositary.

 

(d)           The
Trustee shall not be liable for any action it takes or omits to take in good
faith which it believes to be authorized or within its rights or powers,
provided that the Trustee’s conduct does not constitute negligence or bad
faith.

 

(e)           The
Trustee may consult with counsel and the advice of such counsel or any Opinion
of Counsel shall be full and complete authorization and protection in respect
of any action taken, suffered or omitted by it hereunder without negligence and
in good faith and in reliance thereon.

 

(f)            The
Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the
Holders of Securities unless such Holders shall have offered to the Trustee
reasonable security or indemnity against the costs, expenses and liabilities
which might be incurred by it in compliance with such request or direction.

 

(g)           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, direction, consent, order, bond, debenture, note, other
evidence of indebtedness or other paper or document, but the Trustee, in its
discretion, may make such further inquiry or investigation into such facts or
matters as it may see fit.

 

(h)           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 Securities generally or the Securities of a particular Series and
this Indenture.

 

Section 7.3.            Individual
Rights of Trustee.

 

The Trustee in its individual or any other capacity
may become the owner or pledgee of Securities and may otherwise deal with the
Company or an Affiliate of the Company 

 

26

 

with the same rights it
would have if it were not Trustee.  Any
Agent may do the same with like rights. 
The Trustee is also subject to Sections 7.10 and 7.11.

 

Section 7.4.            Trustee’s
Disclaimer.

 

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

 

Section 7.5.            Notice
of Defaults.

 

If a Default or Event of Default occurs and is
continuing with respect to the Securities of any Series and if it is known
to a Responsible Officer of the Trustee, the Trustee shall mail to each
Securityholder of the Securities of that Series notice of a Default or
Event of Default within 90 days after it occurs or, if later, after a
Responsible Officer of the Trustee has knowledge of such Default or Event of
Default.  Except in the case of a Default
or Event of Default in payment of principal of or interest on any Security of
any Series, the Trustee may withhold the notice if and so long as its corporate
trust committee or a committee of its Responsible Officers in good faith
determines that withholding the notice is in the interests of Securityholders
of that Series.

 

Section 7.6.            Reports
by Trustee to Holders.

 

Within 60 days after May 15 in each year, the
Trustee shall transmit by mail to all Securityholders, as their names and
addresses appear on the register kept by the Registrar, a brief report dated as
of such May 15, in accordance with, and to the extent required under, TIA
§ 313.

 

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

 

Section 7.7.            Compensation
and Indemnity.

 

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

 

The Company shall indemnify each of the Trustee and
any predecessor Trustee (including the cost of defending itself) against any
loss, liability or expense, including taxes (other than taxes based upon,
measured by or determined by the income of the Trustee) incurred by it except
as set forth in the next paragraph in the performance of its duties under this
Indenture as Trustee or Agent.  The
Trustee shall notify the Company promptly of any claim for which it may seek
indemnity.  The Company shall defend the
claim and the Trustee shall 

 

27

 

cooperate in the
defense.  The Trustee may have one
separate counsel and the Company shall pay the reasonable fees and expenses of
such counsel.  The Company need not pay
for any settlement made without its consent, which consent shall not be
unreasonably withheld.  This
indemnification shall apply to officers, directors, employees, shareholders and
agents of the Trustee.

 

The Company need not reimburse any expense or
indemnify against any loss or liability incurred by the Trustee or by any
officer, director, employee, shareholder or agent of the Trustee through
negligence or bad faith.

 

To secure the Company’s payment obligations in this
Section, the Trustee shall have a lien prior to the Securities of any Series on
all money or property held or collected by the Trustee, except that held in
trust to pay principal of and interest on particular Securities of that Series.

 

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

 

The provisions of this Section shall survive the
termination of this Indenture.

 

Section 7.8.            Replacement
of Trustee.

 

A resignation or removal of the Trustee and
appointment of a successor Trustee shall become effective only upon the
successor Trustee’s acceptance of appointment as provided in this Section.

 

The Trustee may resign with respect to the Securities
of one or more Series by so notifying the Company at least 30 days prior
to the date of the proposed resignation. 
The Holders of a majority in principal amount of the Securities of any Series may
remove the Trustee with respect to that Series by so notifying the Trustee
and the Company.  The Company may remove
the Trustee with respect to Securities of one or more Series if:

 

(a)           the
Trustee fails to comply with Section 7.10;

 

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

 

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

 

(d)           the
Trustee becomes incapable of acting.

 

If the Trustee resigns or is removed or if a vacancy
exists in the office of Trustee for any reason, the Company shall promptly
appoint a successor Trustee.  Within one
year after the successor Trustee takes office, the Holders of a majority in
principal amount of the then outstanding Securities may appoint a successor
Trustee to replace the successor Trustee appointed by the Company.

 

28

 

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

 

A successor Trustee shall deliver a written acceptance
of its appointment to the retiring Trustee and to the Company.  Immediately after that, the retiring Trustee
shall transfer all property held by it as Trustee to the successor Trustee
subject to the lien provided for in Section 7.7, the resignation or
removal of the retiring Trustee shall become effective, and the successor
Trustee shall have all the rights, powers and duties of the Trustee with
respect to each Series of Securities for which it is acting as Trustee
under this Indenture.  A successor
Trustee shall mail a notice of its succession to each Securityholder of each
such Series.  Notwithstanding replacement
of the Trustee pursuant to this Section 7.8, the Company’s obligations
under Section 7.7 hereof shall continue for the benefit of the retiring
Trustee with respect to expenses and liabilities incurred by it prior to such
replacement.

 

Section 7.9.            Successor Trustee by Merger, etc.

 

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

 

Section 7.10.          Eligibility;
Disqualification.

 

This Indenture shall always have a Trustee who
satisfies the requirements of TIA § 310(a)(1), (2) and (5).  The Trustee shall always have a combined capital
and surplus of at least $25,000,000 as set forth in its most recent published
annual report of condition.  The Trustee
shall comply with TIA § 310(b).

 

Section 7.11.          Preferential
Collection of Claims Against Company.

 

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

 

ARTICLE VIII.

SATISFACTION AND DISCHARGE; DEFEASANCE

 

Section 8.1.            Satisfaction and Discharge of Indenture.

 

This Indenture shall upon Company Order cease to be of
further effect (except as hereinafter provided in this Section 8.1), and
the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture, when

 

(a)           either

 

29

 

(i)            all Securities theretofore authenticated
and delivered (other than Securities that have been destroyed, lost or stolen
and that have been replaced or paid) have been delivered to the Trustee for
cancellation; or

 

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

 

(1)           have become due and payable, or

 

(2)           will become due and payable at their Stated Maturity
within one year, or

 

(3)           have been called for redemption or are to be called
for redemption within one year under arrangements satisfactory to the Trustee
for the giving of notice of redemption by the Trustee in the name, and at the
expense, of the Company, or

 

(4)           are deemed paid and discharged pursuant to Section 8.3,
as applicable;

 

and the Company, in the case of (1), (2) or (3) above,
has irrevocably deposited or caused to be deposited with the Trustee as trust
funds in trust an amount sufficient for the purpose of paying and discharging
the entire indebtedness on such Securities not theretofore delivered to the
Trustee for cancellation, for principal and interest to the date of such
deposit (in the case of Securities which have become due and payable on or prior
to the date of such deposit) or to the Stated Maturity or redemption date, as
the case may be;

 

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

 

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

 

Notwithstanding the satisfaction and discharge of this
Indenture, the obligations of the Company to the Trustee under Section 7.7,
and, if money shall have been deposited with the Trustee pursuant to clause (a) of
this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall
survive.

 

Section 8.2.            Application of Trust Funds; Indemnification.

 

(a)           Subject to the provisions of Section 8.5,
all money deposited with the Trustee pursuant to Section 8.1, all money
and U.S. Government Obligations or Foreign Government Obligations deposited
with the Trustee pursuant to Section 8.3 or 8.4 and all money received by
the Trustee in respect of U.S. Government Obligations or Foreign Government
Obligations deposited with the Trustee pursuant to Section 8.3 or 8.4,
shall be held in trust and applied by it, in accordance with the provisions of
the Securities and this Indenture, to the payment, either directly or through
any Paying Agent (including the 

 

30

 

Company acting as its own Paying Agent) as the Trustee may determine,
to the persons entitled thereto, of the principal and interest for whose
payment such money has been deposited with or received by the Trustee or to
make mandatory sinking fund payments or analogous payments as contemplated by
Sections 8.3 or 8.4.

 

(b)           The Company shall pay and shall indemnify
the Trustee against any tax, fee or other charge imposed on or assessed against
U.S. Government Obligations or Foreign Government Obligations deposited
pursuant to Sections 8.3 or 8.4 or the interest and principal received in
respect of such obligations other than any payable by or on behalf of Holders.

 

(c)           The Trustee shall deliver or pay to the
Company from time to time upon Company Request any U.S. Government Obligations
or Foreign Government Obligations or money held by it as provided in Sections
8.3 or 8.4 which, in the opinion of a nationally recognized firm of independent
certified public accountants expressed in a written certification thereof
delivered to the Trustee, are then in excess of the amount thereof which then
would have been required to be deposited for the purpose for which such U.S.
Government Obligations or Foreign Government Obligations or money were
deposited or received.  This provision
shall not authorize the sale by the Trustee of any U.S. Government Obligations
or Foreign Government Obligations held under this Indenture.

 

Section 8.3.            Legal Defeasance of Securities of any Series.

 

Unless this Section 8.3 is otherwise specified,
pursuant to Section 2.2.20, to be inapplicable to Securities of any Series,
the Company shall be deemed to have paid and discharged the entire indebtedness
on all the outstanding Securities of any Series on the 91st day after the
date of the deposit referred to in subparagraph (d) hereof, and the
provisions of this Indenture, as it relates to such outstanding Securities of
such Series, shall no longer be in effect (and the Trustee, at the expense of
the Company, shall, at Company Request, execute proper instruments
acknowledging the same), except as to:

 

(a)           the rights of Holders of Securities of
such Series to receive, from the trust funds described in subparagraph (d)
hereof, (i) payment of the principal of and each installment of principal of
and interest on the outstanding Securities of such Series on the Stated
Maturity of such principal or installment of principal or interest and (ii) the
benefit of any mandatory sinking fund payments applicable to the Securities of
such Series on the day on which such payments are due and payable in
accordance with the terms of this Indenture and the Securities of such Series;

 

(b)           the provisions of Sections 2.4, 2.7, 2.8,
8.2, 8.3 and 8.5; and

 

(c)           the rights, powers, trust and immunities
of the Trustee hereunder;

 

provided that, the following conditions shall have
been satisfied:

 

(d)           the Company shall have deposited or
caused to be irrevocably deposited (except as provided in Section 8.2(c))
with the Trustee as trust funds in trust for the 

 

31

 

purpose of making the following payments, specifically pledged as
security for and dedicated solely to the benefit of the Holders of such
Securities (i) in the case of Securities of such Series denominated
in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in
the case of Securities of such Series denominated in a Foreign Currency
(other than a composite currency), money and/or Foreign Government Obligations,
which through the payment of interest and principal in respect thereof in
accordance with their terms, will provide (and without reinvestment and
assuming no tax liability will be imposed on such Trustee), not later than one
day before the due date of any payment of money, an amount in cash, sufficient,
in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay
and discharge each installment of principal of and interest, if any, on and any
mandatory sinking fund payments in respect of all the Securities of such Series on
the dates such installments of interest or principal and such sinking fund
payments are due;

 

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

 

(f)            no Default or Event of Default with
respect to the Securities of such Series shall have occurred and be
continuing on the date of such deposit or during the period ending on the 91st
day after such date;

 

(g)           the Company shall have delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that (i) the
Company has received from, or there has been published by, the Internal Revenue
Service a ruling, or (ii) since the date of execution of this Indenture,
there has been a change in the applicable Federal income tax law, in either
case to the effect that, and based thereon such Opinion of Counsel shall
confirm that, the Holders of the Securities of such Series 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 amount and in the same manner and at the same times as would
have been the case if such deposit, defeasance and discharge had not occurred;

 

(h)           the Company shall have delivered to the
Trustee an Officers’ Certificate stating that the deposit was not made by the
Company with the intent of preferring the Holders of the Securities of such Series over
any other creditors of the Company or with the intent of defeating, hindering,
delaying or defrauding any other creditors of the Company; and

 

(i)            the Company 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 defeasance contemplated
by this Section have been complied with.

 

32

 

Section 8.4.            Covenant Defeasance.

 

Unless this Section 8.4 is otherwise specified
pursuant to Section 2.2.20 to be inapplicable to Securities of any Series,
the Company may omit to comply with respect to the Securities of any Series with
any term, provision or condition set forth under Sections 4.2, 4.3, 4.4, 4.5,
and 5.1 as well as any additional covenants specified in a supplemental
indenture for such Series of Securities or a Board Resolution or an
Officers’ Certificate delivered pursuant to Section 2.2.20 (and the
failure to comply with any such covenants shall not constitute a Default or
Event of Default with respect to such Series under Section 6.1) and
the occurrence of any event specified in a supplemental indenture for such Series of
Securities or a Board Resolution or an Officers’ Certificate delivered pursuant
to Section 2.2.18 and designated as an Event of Default shall not
constitute a Default or Event of Default hereunder, with respect to the
Securities of such Series, provided that the following conditions shall have
been satisfied:

 

(a)           With reference to this Section 8.4,
the Company has deposited or caused to be irrevocably deposited (except as
provided in Section 8.2(c)) 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 such Securities (i) in
the case of Securities of such Series denominated in Dollars, cash in
Dollars and/or U.S. Government Obligations, or (ii) in the case of
Securities of such Series denominated in a Foreign Currency (other than a
composite currency), money and/or Foreign Government Obligations, which through
the payment of interest and principal in respect thereof in accordance with
their terms, will provide (and without reinvestment and assuming no tax
liability will be imposed on such Trustee), not later than one day before the
due date of any payment of money, an amount in cash, sufficient, in the opinion
of a nationally recognized firm of independent certified public accountants
expressed in a written certification thereof delivered to the Trustee, to pay
and discharge each installment of principal of and interest, if any, on and any
mandatory sinking fund payments in respect of the Securities of such Series on
the dates such installments of interest or principal and such sinking fund
payments are due;

 

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

 

(c)           No Default or Event of Default with
respect to the Securities of such Series shall have occurred and be
continuing on the date of such deposit;

 

(d)           The Company shall have delivered to the
Trustee an Opinion of Counsel to the effect that Holders of the Securities of
such Series will not recognize income, gain or loss for federal income tax
purposes as a result of such deposit and 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 deposit and covenant
defeasance had not occurred;

 

(e)           The Company shall have delivered to the
Trustee an Officers’ Certificate stating the deposit was not made by the
Company with the intent of preferring the Holders of the Securities of such Series over
any other creditors of the Company or with 

 

33

 

the intent of defeating, hindering, delaying or defrauding any other
creditors of the Company; and

 

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

 

Section 8.5.            Repayment to Company.

 

The Trustee and the Paying Agent shall pay to the
Company upon request any money held by them for the payment of principal and
interest that remains unclaimed for two years. 
After that, Securityholders entitled to the money must look to the
Company for payment as general creditors unless an applicable abandoned
property law designates another person.

 

Section 8.6.            Reinstatement.

 

If the Trustee or the Paying Agent is unable to apply
any money deposited with respect to Securities of any Series in accordance
with Section 8.1 by reason of any legal proceeding or by reason of any
order or judgment of any court or governmental authority enjoining, restraining
or otherwise prohibiting such application, the obligations of the Company under
this Indenture with respect to the Securities of such Series and under the
Securities of such Series shall be revived and reinstated as though no
deposit had occurred pursuant to Section 8.1 until such time as the
Trustee or the Paying Agent is permitted to apply all such money in accordance
with Section 8.1; provided, however, that if the Company has
made any payment of principal of or interest on or any Additional Amounts with
respect to any Securities because of the reinstatement of its obligations, the
Company shall be subrogated to the rights of the Holders of such Securities to
receive such payment from the money held by the Trustee or Paying Agent.

 

ARTICLE IX.

AMENDMENTS AND WAIVERS

 

Section 9.1.            Without Consent of Holders.

 

The Company and the Trustee may amend or supplement
this Indenture or the Securities of one or more Series without the consent
of any Securityholder:

 

(a)           to cure any ambiguity, defect or
inconsistency;

 

(b)           to comply with Article V;

 

(c)           to provide for uncertificated Securities
in addition to or in place of certificated Securities;

 

(d)           to make any change that does not
adversely affect the rights of any Securityholder;

 

34

 

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

 

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

 

(g)           to comply with requirements of the SEC in
order to effect or maintain the qualification of this Indenture under the TIA.

 

Section 9.2.            With Consent of Holders.

 

The Company and the Trustee may enter into a
supplemental indenture with the written consent of the Holders of at least a
majority in principal amount of the outstanding Securities of each Series affected
by such supplemental indenture (including consents obtained in connection with
a tender offer or exchange offer for the Securities of such Series), for the
purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of any supplemental indenture or of
modifying in any manner the rights of the Securityholders of each such
Series.  Except as provided in Section 6.13,
the Holders of at least a majority in principal amount of the outstanding
Securities of any Series by notice to the Trustee (including consents
obtained in connection with a tender offer or exchange offer for the Securities
of such Series) may waive compliance by the Company with any provision of this
Indenture or the Securities with respect to such Series.

 

It shall not be necessary for the consent of the
Holders of Securities under this Section 9.2 to approve the particular
form of any proposed supplemental indenture or waiver, but it shall be
sufficient if such consent approves the substance thereof.  After a supplemental indenture or waiver
under this section becomes effective, the Company shall mail to the Holders of
Securities affected thereby, a notice briefly describing the supplemental
indenture or waiver.  Any failure by the
Company to mail or publish such notice, or any defect therein, shall not,
however, in any way impair or affect the validity of any such supplemental
indenture or waiver.

 

Section 9.3.            Limitations.

 

Without the consent of each Securityholder affected,
an amendment or waiver may not:

 

(a)           reduce the principal amount of Securities
whose Holders must consent to an amendment, supplement or waiver;

 

(b)           reduce the rate of or extend the time for
payment of interest (including default interest) on any Security;

 

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

 

35

 

(d)           reduce the principal amount of Discount Securities
payable upon acceleration of the maturity thereof;

 

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

 

(f)            make the principal of or interest, if
any, on any Security payable in any currency other than that stated in the
Security;

 

(g)           make any change in Sections 6.8, 6.13 or
9.3 (this sentence); or

 

(h)           waive a redemption payment with respect
to any Security, provided that such redemption is made at the Company’s option.

 

Section 9.4.            Compliance with Trust Indenture Act.

 

Every amendment to this Indenture or the Securities of
one or more Series shall be set forth in a supplemental indenture hereto
that complies with the TIA as then in effect.

 

Section 9.5.            Revocation and Effect of Consents.

 

Until an amendment is set forth in a supplemental
indenture or a waiver becomes effective, a consent to it by a Holder of a
Security is a continuing consent by the Holder and every subsequent Holder of a
Security or portion of a Security that evidences the same debt as the
consenting Holder’s Security, even if notation of the consent is not made on
any Security.  However, any such Holder
or subsequent Holder may revoke the consent as to his Security or portion of a
Security if the Trustee receives the notice of revocation before the date of
the supplemental indenture or the date the waiver becomes effective.

 

Any amendment or waiver once effective shall bind
every Securityholder of each Series affected by such amendment or waiver
unless it is of the type described in any of clauses (a) through (h) of
Section 9.3.  In that case, the
amendment or waiver shall bind each Holder of a Security who has consented to
it and every subsequent Holder of a Security or portion of a Security that
evidences the same debt as the consenting Holder’s Security.

 

Section 9.6.            Notation on or Exchange of Securities.

 

The Trustee may place an appropriate notation about an
amendment or waiver on any Security of any Series thereafter
authenticated.  The Company in exchange
for Securities of that Series may issue and the Trustee shall authenticate
upon request new Securities of that Series that reflect the amendment or
waiver.

 

36

 

Section 9.7.            Trustee Protected.

 

In executing, or accepting the additional trusts
created by, any supplemental indenture permitted by this Article or the
modifications thereby of the trusts created by this Indenture, the Trustee
shall be entitled to receive, and (subject to Section 7.1) shall be fully
protected in relying upon, an Opinion of Counsel stating that the execution of
such supplemental indenture is authorized or permitted by this Indenture.  The Trustee shall sign all supplemental
indentures, except that the Trustee need not sign any supplemental indenture that
adversely affects its rights.

 

ARTICLE X.

MISCELLANEOUS

 

Section 10.1.          Trust
Indenture Act Controls.

 

If any provision of this Indenture limits, qualifies,
or conflicts with another provision which is required or deemed to be included
in this Indenture by the TIA, such required or deemed provision shall control.

 

Section 10.2.          Notices.

 

Any notice or communication by the Company or the
Trustee to the other, or by a Holder to the Company or the Trustee, is duly
given if in writing and delivered in person or mailed by first-class mail:

 

if to the Company:

 

Lannett Company, Inc.

9000 State Road

Philadelphia, Pennslyvania 19136

Attention: Chief
Financial Officer

Telephone: (215) 333-9000

 

if to the Trustee:

 

[                         ]

 

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

 

Any notice or communication to a Securityholder shall
be mailed by first-class mail to his address shown on the register kept by the
Registrar.  Failure to mail a notice or
communication to a Securityholder of any Series or any defect in it shall
not affect its sufficiency with respect to other Securityholders of that or any
other Series.

 

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

 

37

 

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

 

Section 10.3.          Communication
by Holders with Other Holders.

 

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

 

Section 10.4.          Certificate
and Opinion as to Conditions Precedent.

 

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

 

(a)           an
Officers’ Certificate stating that, in the opinion of the signers, all
conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with; and

 

(b)           an
Opinion of Counsel stating that, in the opinion of such counsel, all such
conditions precedent have been complied with.

 

Section 10.5.          Statements
Required in Certificate or Opinion.

 

Each certificate or opinion with respect to compliance
with a condition or covenant provided for in this Indenture (other than a
certificate provided pursuant to TIA § 314(a)(4)) shall comply with the
provisions of TIA § 314(e) and 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 informed opinion as
to whether or not such covenant or condition has been complied with; and

 

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

 

Section 10.6.          Rules by
Trustee and Agents.

 

The Trustee may make reasonable rules for action
by or a meeting of Securityholders of one or more Series.  Any Agent may make reasonable rules and
set reasonable requirements for its functions.

 

38

 

Section 10.7.          Legal
Holidays.

 

Unless otherwise provided by Board Resolution,
Officers’ Certificate or supplemental indenture hereto for a particular Series,
a “Legal Holiday” is any day that is not a
Business Day.  If a payment date is a
Legal Holiday at a place of payment, payment may be made at that place on the
next succeeding day that is not a Legal Holiday, and no interest shall accrue
for the intervening period.

 

Section 10.8.          No
Recourse Against Others.

 

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

 

Section 10.9.          Counterparts.

 

This Indenture may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

 

Section 10.10.        Governing
Laws.

 

THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED
BY THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE
PERFORMED IN SUCH STATE, WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS
THEREOF.

 

Section 10.11.        No
Adverse Interpretation of Other Agreements.

 

This Indenture may not be used to interpret another
indenture, loan or debt agreement of the Company or a Subsidiary of the
Company.  Any such indenture, loan or
debt agreement may not be used to interpret this Indenture.

 

Section 10.12.        Successors.

 

All agreements of the Company in this Indenture and
the Securities shall bind its successor. 
All agreements of the Trustee in this Indenture shall bind its
successor.

 

Section 10.13.        Severability.

 

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

 

Section 10.14.        Table
of Contents, Headings, Etc.

 

39

 

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

 

Section 10.15.        Securities
in a Foreign Currency or in ECU.

 

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

 

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

 

Section 10.16.        Judgment
Currency.

 

The Company agrees, to the fullest extent that it may
effectively do so under applicable law, that (a) if for the purpose of
obtaining judgment in any court it is necessary to convert the sum due in
respect of the principal of or interest or other amount on the Securities of
any Series (the “Required Currency”)
into a currency in which a judgment will be rendered (the “Judgment
Currency”), the rate of exchange used shall be the rate at which in
accordance with normal banking procedures the Trustee could purchase in The
City of New York the Required Currency with the Judgment Currency on the day on
which final unappealable judgment is 

 

40

 

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

 

ARTICLE XI.

SINKING FUNDS

 

Section 11.1.          Applicability
of Article.

 

The provisions of this Article shall be
applicable to any sinking fund for the retirement of the Securities of a
Series, except as otherwise permitted or required by any form of Security of
such Series issued pursuant to this Indenture.

 

The minimum amount of any sinking fund payment
provided for by the terms of the Securities of any Series is herein
referred to as a “mandatory sinking fund payment”
and any other amount provided for by the terms of Securities of such Series is
herein referred to as an “optional sinking fund
payment.”  If provided for by
the terms of Securities of any Series, the cash amount of any sinking fund
payment may be subject to reduction as provided in Section 11.2.  Each sinking fund payment shall be applied to
the redemption of Securities of any Series as provided for by the terms of
the Securities of such Series.

 

Section 11.2.          Satisfaction
of Sinking Fund Payments with Securities.

 

The Company may, in satisfaction of all or any part of
any sinking fund payment with respect to the Securities of any Series to
be made pursuant to the terms of such Securities (1) deliver outstanding
Securities of such Series to which such sinking fund payment is applicable
(other than any of such Securities previously called for mandatory sinking fund
redemption) and (2) apply as credit Securities of such Series to
which such sinking fund payment is applicable and which have been repurchased
by the Company or redeemed either at the election of the Company pursuant to
the terms of such Series of Securities (except pursuant to any mandatory
sinking fund) or through the application of permitted optional sinking fund
payments or other optional redemptions pursuant to the terms of such
Securities, provided that such Securities have not been previously so
credited.  Such Securities shall be
received by the Trustee, together with an Officers’ Certificate with respect
thereto, not later than 15 days prior to 

 

41

 

the date on which the
Trustee begins the process of selecting Securities for redemption, and shall be
credited for such purpose by the Trustee at the price specified in such
Securities for redemption through operation of the sinking fund and the amount
of such sinking fund payment shall be reduced accordingly.  If as a result of the delivery or credit of
Securities in lieu of cash payments pursuant to this Section 11.2, the
principal amount of Securities of such Series to be redeemed in order to
exhaust the aforesaid cash payment shall be less than $100,000, the Trustee
need not call Securities of such Series for redemption, except upon
receipt of a Company Order that such action be taken, and such cash payment
shall be held by the Trustee or a Paying Agent and applied to the next
succeeding sinking fund payment, provided, however, that the
Trustee or such Paying Agent shall from time to time upon receipt of a Company
Order pay over and deliver to the Company any cash payment so being held by the
Trustee or such Paying Agent upon delivery by the Company to the Trustee of
Securities of that Series purchased by the Company having an unpaid
principal amount equal to the cash payment required to be released to the
Company.

 

Section 11.3.          Redemption
of Securities for Sinking Fund.

 

Not less than 45 days (unless otherwise indicated in
the Board Resolution, supplemental indenture hereto or Officers’ Certificate in
respect of a particular Series of Securities) prior to each sinking fund
payment date for any Series of Securities, the Company will deliver to the
Trustee an Officers’ Certificate specifying the amount of the next ensuing
mandatory sinking fund payment for that Series pursuant to the terms of
that Series, the portion thereof, if any, which is to be satisfied by payment
of cash and the portion thereof, if any, which is to be satisfied by delivering
and crediting of Securities of that Series pursuant to Section 11.2,
and the optional amount, if any, to be added in cash to the next ensuing
mandatory sinking fund payment, and the Company shall thereupon be obligated to
pay the amount therein specified.  Not
less than 30 days (unless otherwise indicated in the Board Resolution, Officers’
Certificate or supplemental indenture in respect of a particular Series of
Securities) before each such sinking fund payment date the Trustee shall select
the Securities to be redeemed upon such sinking fund payment date in the manner
specified in Section 3.2 and cause notice of the redemption thereof to be
given in the name of and at the expense of the Company in the manner provided
in Section 3.3.  Such notice having
been duly given, the redemption of such Securities shall be made upon the terms
and in the manner stated in Sections 3.4, 3.5 and 3.6.

 

42

 

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

 

	
   

  	
  Lannett
  Company, Inc.

  
	
   

  	
   

  
	
   

  	
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