Document:

ex_10-1.htm

    
 

    
      

      

    

    EXHIBIT
10.1

    

     

    ULURU
Inc.

     

    INDEMNIFICATION
AGREEMENT

     

    

     

    THIS
INDEMNIFICATION AGREEMENT (the “Agreement”) is made
and entered into as of July 13, 2009 between ULURU Inc., a Nevada corporation
(the “Company”), and
___________ (“Indemnitee”).

     

    WITNESSETH
THAT:

     

    WHEREAS,
highly competent persons have become more reluctant to serve corporations as
directors and officers or in other capacities unless they are provided with
adequate protection through insurance or adequate indemnification against
inordinate risks of claims and actions against them arising out of their service
to and activities on behalf of the corporation;

     

    WHEREAS,
the Board of Directors of the Company (the “Board”) has
determined that, in order to attract and retain qualified individuals, the
Company will attempt to maintain on an ongoing basis, at its sole expense,
liability insurance to protect persons serving the Company and its subsidiaries
from certain liabilities.  Although the furnishing of such insurance
has been a customary and widespread practice among United States-based
corporations and other business enterprises, the Company believes that, given
current market conditions and trends, such insurance may be available to it in
the future only at higher premiums and with more exclusions.  At the
same time, directors, officers, and other persons in service to corporations or
business enterprises are being increasingly subjected to expensive and
time-consuming litigation relating to, among other things, matters that
traditionally would have been brought only against the Company or business
enterprise itself.  The By-laws of the Company require indemnification
of the directors, officers, employees, fiduciaries and agents of the
Company.  Indemnitee may also be entitled to indemnification pursuant
to Chapter 78 - Private Corporations, of the Nevada Revised Statutes (the “NRS”).  The
NRS expressly provides that the indemnification provisions set forth therein are
not exclusive, and thereby contemplate that contracts may be entered into
between the Company and members of the Board with respect to
indemnification;

     

    WHEREAS,
the uncertainties relating to such insurance and to indemnification have
increased the difficulty of attracting and retaining such persons;

     

    WHEREAS,
the Board has determined that the increased difficulty in attracting and
retaining such persons is detrimental to the best interests of the Company's
stockholders and that the Company should act to assure such persons that there
will be increased certainty of such protection in the future;

     

    WHEREAS,
it is reasonable, prudent and necessary for the Company contractually to
obligate itself to indemnify, and to advance expenses on behalf of, such persons
to the fullest extent permitted by applicable law so that they will serve or
continue to serve the Company free from undue concern that they will not be so
indemnified;

     

    WHEREAS,
this Agreement is a supplement to and in furtherance of any indemnification
provisions in the Articles of Incorporation and/or the By-laws of the Company
and any resolutions adopted pursuant thereto, and shall not be deemed a
substitute therefore, nor to diminish or abrogate any rights of Indemnitee
thereunder;

     

    WHEREAS,
Indemnitee does not regard the protection available under the NRS, the Company's
By-laws and insurance as adequate in the present circumstances, and may not be
willing to serve as an officer or a director without adequate protection, and
the Company desires Indemnitee to serve in such capacity.  Indemnitee
is willing to serve, continue to serve and to take on additional services for or
on behalf of the Company on the condition that he be so indemnified;
and

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    NOW,
THEREFORE, in consideration of Indemnitee’s agreement to serve as a director
from and after the date hereof, the parties hereto agree as
follows:

     

    1. Indemnity of
Indemnitee.  The Company hereby agrees to hold harmless and
indemnify Indemnitee to the fullest extent permitted by law, as such may be
amended from time to time.  In furtherance of the foregoing
indemnification, and without limiting the generality thereof:

     

    (a) Proceedings Other Than
Proceedings by or in the Right of the Company.  Indemnitee
shall be entitled to the rights of indemnification provided in this Section l(a) if, by
reason of his Corporate Status (as hereinafter defined), Indemnitee is, or is
threatened to be made, a party to or participant in any Proceeding (as
hereinafter defined) other than a Proceeding by or in the right of the
Company.  Pursuant to this Section 1(a), the
Company shall indemnify Indemnitee against all Expenses (as hereinafter
defined), judgments, penalties, fines and amounts paid in settlement actually
and reasonably incurred by him, or on his behalf, in connection with such
Proceeding or any claim, issue or matter therein, if the Indemnitee acted in
good faith and in a manner the Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company, and with respect to any criminal
Proceeding, had no reasonable cause to believe Indemnitee’s conduct was
unlawful.

     

    (b) Proceedings by or in the
Right of the Company.  Indemnitee shall be entitled to the
rights of indemnification provided in this Section 1(b) if, by
reason of his Corporate Status, the Indemnitee is, or is threatened to be made,
a party to or participant in any Proceeding brought by or in the right of the
Company.  Pursuant to this Section 1(b), the
Company shall indemnify Indemnitee against all Expenses and amounts paid in
settlement actually and reasonably incurred by Indemnitee, or on Indemnitee’s
behalf, in connection with such Proceeding or any claim, issue or matters
therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably
believed to be in or not opposed to the best interests of the Company; provided, however, if
applicable law so provides, no indemnification against such Expenses shall be
made in respect of any claim, issue or matter in such Proceeding as to which
Indemnitee shall have been adjudged by a court of competent jurisdiction, after
exhaustion of all appeals therefrom, to be liable to the Company unless and to
the extent that a court of competent jurisdiction shall determine that such
indemnification may be made.

     

    (c)            Indemnification under NRS
78.138.  Indemnitee shall be entitled to the rights of
indemnification provided under Section 1(a) and Section 1(b) if Indemnitee is
not liable pursuant to NRS 78.138.

     

    (d)            Indemnification for Expenses
of a Party Who is Wholly or Partly Successful.  Notwithstanding
any other provision of this Agreement, to the extent that Indemnitee is, by
reason of his Corporate Status, a party to and is successful, on the merits or
otherwise, in any Proceeding, the Company shall indemnify Indemnitee to the
maximum extent permitted by law, as such may be amended from time to time,
against all Expenses actually and reasonably incurred by him or on his behalf in
connection therewith.  If Indemnitee is not wholly successful in such
Proceeding but is successful, on the merits or otherwise, as to one or more but
less than all claims, issues or matters in such Proceeding, the Company shall
indemnify Indemnitee against all Expenses actually and reasonably incurred by
him or on his behalf in connection with each successfully resolved claim, issue
or matter.  For purposes of this Section and without limitation, the
termination of any claim, issue or matter in such a Proceeding by dismissal,
with or without prejudice, shall be deemed to be a successful result as to such
claim, issue or matter.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Additional
Indemnity.  In addition to, and without regard to any
limitations on, the indemnification provided for in Section 1 of this
Agreement, the Company shall and hereby does indemnify and hold harmless
Indemnitee, to the fullest extent permitted by law, as may be amended from time
to time, against all Expenses, judgments, penalties, fines and amounts paid in
settlement actually and reasonably incurred by him or on his behalf if, by
reason of his Corporate Status, he is, or is threatened to be made, a party to
or participant in any Proceeding (including a Proceeding by or in the right of
the Company), including, without limitation, all liability arising out of the
negligence or active or passive wrongdoing of Indemnitee.  The only
limitation that shall exist upon the Company’s obligations pursuant to this
Agreement shall be that the Company shall not be obligated to make any payment
to Indemnitee that is finally determined (under the procedures, and subject to
the presumptions, set forth in Sections 6 and 7 hereof) to be
unlawful.

     

    2. Contribution.

     

    (a) Whether or not the indemnification
provided in Sections
1 and 2
hereof is available, in respect of any threatened, pending or completed action,
suit or proceeding in which the Company is jointly liable with Indemnitee (or
would be if joined in such action, suit or proceeding), the Company shall pay
the entire amount of any judgment or settlement of such action, suit or
proceeding without requiring Indemnitee to contribute to such payment and the
Company hereby waives and relinquishes any right of contribution it may have
against Indemnitee.  The Company shall not enter into any settlement
of any action, suit or proceeding in which the Company is jointly liable with
Indemnitee (or would be if joined in such action, suit or proceeding) unless
such settlement provides for a full and final release of all claims asserted
against Indemnitee.

     

    (b) Without diminishing or impairing the
obligations of the Company set forth in the preceding subparagraph, if, for any
reason, Indemnitee shall elect or be required to pay all or any portion of any
judgment or settlement in any threatened, pending or completed action, suit or
proceeding in which the Company is jointly liable with Indemnitee (or would be
if joined in such action, suit or proceeding), the Company shall contribute to
the amount of Expenses, judgments, fines and amounts paid in settlement actually
and reasonably incurred and paid or payable by Indemnitee in proportion to the
relative benefits received by the Company and all officers, directors or
employees of the Company, other than Indemnitee, who are jointly liable with
Indemnitee (or would be if joined in such action, suit or proceeding), on the
one hand, and Indemnitee, on the other hand, from the transaction from which
such action, suit or proceeding arose; provided, however, that the
proportion determined on the basis of relative benefit may, to the extent
necessary to conform to law, be further adjusted by reference to the relative
fault of the Company and all officers, directors or employees of the Company
other than Indemnitee who are jointly liable with Indemnitee (or would be if
joined in such action, suit or proceeding), on the one hand, and Indemnitee, on
the other hand, in connection with the events that resulted in such expenses,
judgments, fines or settlement amounts, as well as any other equitable
considerations which applicable law may require to be considered.  The
relative fault of the Company and all officers, directors or employees of the
Company, other than Indemnitee, who are jointly liable with Indemnitee (or would
be if joined in such action, suit or proceeding), on the one hand, and
Indemnitee, on the other hand, shall be determined by reference to, among other
things, the degree to which their actions were motivated by intent to gain
personal profit or advantage, the degree to which their liability is primary or
secondary and the degree to which their conduct is active or
passive.

     

    (c) The Company hereby agrees to fully
indemnify and hold Indemnitee harmless from any claims of contribution which may
be brought by officers, directors or employees of the Company, other than
Indemnitee, who may be jointly liable with Indemnitee.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (d) To the fullest extent permissible under
applicable law, if the indemnification provided for in this Agreement is
unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of
indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee,
whether for judgments, fines, penalties, excise taxes, amounts paid or to be
paid in settlement and/or for Expenses, in connection with any claim relating to
an indemnifiable event under this Agreement, in such proportion as is deemed
fair and reasonable in light of all of the circumstances of such Proceeding in
order to reflect (i) the relative benefits received by the Company and
Indemnitee as a result of the event(s) and/or transaction(s) giving cause to
such Proceeding; and/or (ii) the relative fault of the Company (and its
directors, officers, employees and agents) and Indemnitee in connection with
such event(s) and/or transaction(s).

     

    3. Indemnification for Expenses
of a Witness.  Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee is, by reason of his Corporate Status,
a witness, or is made (or asked) to respond to discovery requests, in any
Proceeding to which Indemnitee is not a party, the Company shall indemnify
Indemnitee against all Expenses actually and reasonably incurred by him or on
his behalf in connection therewith.

     

    4. Advancement of
Expenses.  Notwithstanding any other provision of this
Agreement, the Company shall advance all Expenses incurred by or on behalf of
Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate
Status within thirty (30) days after the receipt by the Company of a statement
or statements from Indemnitee requesting such advance or advances from time to
time, whether prior to or after final disposition of such
Proceeding.  Such statement or statements shall reasonably evidence
the Expenses incurred by Indemnitee and, if required by law at the time of such
advance, shall include or be preceded or accompanied by a written undertaking by
or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately
be determined by a court of competent jurisdiction that Indemnitee is not
entitled to be indemnified against such Expenses.  Any advances and
undertakings to repay pursuant to this Section 5 shall be
unsecured and interest free.  In furtherance of the foregoing the
Indemnitee hereby undertakes to repay such amounts advanced only if, and to the
extent that, it shall ultimately be determined by a court of competent
jurisdiction that the Indemnitee is not entitled to be indemnified by the
Company as authorized by this Agreement.

     

    5. Procedures and Presumptions
for Determination of Entitlement to Indemnification.  It is the
intent of this Agreement to secure for Indemnitee rights of indemnity that are
as favorable as may be permitted under the NRS and public policy of the State of
Nevada.  Accordingly, the parties agree that the following procedures
and presumptions shall apply in the event of any question as to whether
Indemnitee is entitled to indemnification under this Agreement:

     

    (a) To obtain indemnification under this
Agreement, Indemnitee shall submit to the Company a written request, including
therein or therewith such documentation and information as is reasonably
available to Indemnitee and is reasonably necessary to determine whether and to
what extent Indemnitee is entitled to indemnification.  The Secretary
of the Company shall, promptly upon receipt of such a request for
indemnification, advise the Board in writing that Indemnitee has requested
indemnification.  Notwithstanding the foregoing, any failure of
Indemnitee to provide such a request to the Company, or to provide such a
request in a timely fashion, shall not relieve the Company of any liability that
it may have to Indemnitee unless, and to the extent that, the Company is
actually and materially prejudiced as a direct result of such
failure.

     

    (b) Upon written request by Indemnitee for
indemnification pursuant to the first sentence of Section 6(a) hereof,
a determination with respect to Indemnitee’s entitlement thereto shall be made
in the specific case by one of the following three methods, which shall be at
the election of the Board:  (i) by a majority vote of a quorum
consisting of Disinterested Directors (as hereinafter defined), (ii) if a
majority vote of a quorum consisting of Disinterested Directors so orders, or if
a quorum of Disinterested Directors cannot be obtained, by Independent Counsel
(as hereinafter defined) in a written opinion to the Board, a copy of which
shall be delivered to Indemnitee, or (iii) by the stockholders of the
Company.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (c) Notwithstanding anything to the
contrary set forth in this Agreement, if a request for indemnification is made
after a Change in Control, at the election of Indemnitee made in writing to the
Company, any determination required to be made pursuant to Section 6(b)
above as to whether Indemnitee is entitled to indemnification shall be made by
Independent Counsel selected as provided in this Section 6(c).
The Independent Counsel shall be selected by Indemnitee, unless Indemnitee shall
request that such selection be made by the Board. The party making the selection
shall give written notice to the other party advising it of the identity of the
Independent Counsel so selected. The party receiving such notice may, within
seven (7) days after such written notice of selection shall have been given,
deliver to the other party a written objection to such selection. Such objection
may be asserted only on the ground that the Independent Counsel so selected does
not meet the requirements of “Independent Counsel”
as defined in Section 13
hereof, and the objection shall set forth with particularity the factual basis
of such assertion.  Absent a proper and timely objection, the person
so selected shall act as Independent Counsel.  If a written objection
is made, the Independent Counsel so selected may not serve as Independent
Counsel unless and until a court has determined that such objection is without
merit.  If, within twenty (20) days after submission by Indemnitee of
a written request for indemnification pursuant to Section 6(a) hereof,
no Independent Counsel shall have been selected (or, if selected, such selection
shall have been objected to) in accordance with this paragraph, then either the
Company or Indemnitee may petition the courts of the State of Nevada or other
court of competent jurisdiction for resolution of any objection which shall have
been made by the Company or Indemnitee to the other’s selection of Independent
Counsel and/or for the appointment as Independent Counsel of a person selected
by the court or by such other person as the court shall designate, and the
person with respect to whom an objection is favorably resolved or the person so
appointed shall act as Independent Counsel under Section 6(c)
hereof.  The Company shall pay any and all reasonable fees and
expenses of Independent Counsel incurred by such Independent Counsel in
connection with acting pursuant to Section 6(b)
hereof.  The Company shall pay any and all reasonable and necessary
fees and expenses incident to the procedures of this Section 6(c),
regardless of the manner in which such Independent Counsel was selected or
appointed.

     

    (d) If the determination of entitlement to
indemnification is to be made by Independent Counsel pursuant to Section 6(b) hereof,
the Independent Counsel shall be selected as provided in this Section
6(d).  The Independent Counsel shall be selected by the
Board.  Indemnitee may, within ten (10) days after such written notice
of selection shall have been given, deliver to the Company a written objection
to such selection; provided, however, that such
objection may be asserted only on the ground that the Independent Counsel so
selected does not meet the requirements of “Independent Counsel”
as defined in Section
13 of this Agreement, and the objection shall set forth with
particularity the factual basis of such assertion.  Absent a proper
and timely objection, the person so selected shall act as Independent
Counsel.  If a written objection is made and substantiated, the
Independent Counsel selected may not serve as Independent Counsel unless and
until such objection is withdrawn or a court has determined that such objection
is without merit.  If, within twenty (20) days after submission by
Indemnitee of a written request for indemnification pursuant to Section 6(a) hereof,
no Independent Counsel shall have been selected (or, if selected, such selection
shall have been objected to) in accordance with this paragraph, then either the
Company or Indemnitee may petition the appropriate courts of the State of Nevada
or other court of competent jurisdiction for resolution of any objection which
shall have been made by Indemnitee to the Company’s selection of Independent
Counsel and/or for the appointment as Independent Counsel of a person selected
by the court or by such other person as the court shall designate, and the
person with respect to whom an objection is favorably resolved or the person so
appointed shall act as Independent Counsel under Section 6(b)
hereof.  The Company shall pay any and all reasonable fees and
expenses of Independent Counsel incurred by such Independent Counsel in
connection with acting pursuant to Section 6(b) hereof,
and the Company shall pay any and all reasonable fees and expenses incident to
the procedures of this Section 6(d),
regardless of the manner in which such Independent Counsel was selected or
appointed.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (e) In making a determination with respect
to entitlement to indemnification hereunder, the person or persons or entity
making such determination shall presume that Indemnitee is entitled to
indemnification under this Agreement.  Anyone seeking to overcome this
presumption shall have the burden of proof and the burden of persuasion by clear
and convincing evidence.  Neither the failure of the Company
(including by its directors or independent legal counsel) to have made a
determination prior to the commencement of any action pursuant to this Agreement
that indemnification is proper in the circumstances because Indemnitee has met
the applicable standard of conduct, nor an actual determination by the Company
(including by its directors or independent legal counsel) that Indemnitee has
not met such applicable standard of conduct, shall be a defense to the action or
create a presumption that Indemnitee has not met the applicable standard of
conduct.

     

    (f) Indemnitee shall be deemed to have
acted in good faith if Indemnitee’s action is based on the records or books of
account of the Enterprise (as hereinafter defined), including financial
statements, or on information supplied to Indemnitee by the officers of the
Enterprise in the course of their duties, or on the advice of legal counsel for
the Enterprise or on information or records given or reports made to the
Enterprise by an independent certified public accountant or by an appraiser or
other expert selected with reasonable care by the Enterprise.  In
addition, the knowledge and/or actions, or failure to act, of any director,
officer, agent or employee of the Enterprise shall not be imputed to Indemnitee
for purposes of determining the right to indemnification under this
Agreement.  Whether or not the foregoing provisions of this Section 6(f) are
satisfied, it shall in any event be presumed that Indemnitee has at all times
acted in good faith and in a manner he reasonably believed to be in or not
opposed to the best interests of the Company.  Anyone seeking to
overcome this presumption shall have the burden of proof and the burden of
persuasion by clear and convincing evidence.

     

    (g) Notwithstanding anything to the
contrary set forth in this Agreement, if the person, persons or entity empowered
or selected under Section 6 to
determine whether Indemnitee is entitled to indemnification shall not have been
appointed or shall not have made a determination within sixty (60) days after
receipt by the Company of the request therefore, the requisite determination of
entitlement to indemnification shall be deemed to have been made and Indemnitee
shall be entitled to such indemnification, unless the Company establishes by
written opinion of Independent Counsel that (i) a misstatement by Indemnitee of
a material fact, or an omission of a material fact necessary to make
Indemnitee’s statement not materially misleading, in connection with the request
for indemnification, or (ii) a prohibition of such indemnification under
applicable law; provided, however,
that such 60-day period may be extended for a reasonable time, not to exceed an
additional thirty (30) days, if the person, persons or entity making such
determination with respect to entitlement to indemnification in good faith
requires such additional time to obtain or evaluate documentation and/or
information relating thereto; and provided, further,
that the foregoing provisions of this Section 6(g) shall
not apply if the determination of entitlement to indemnification is to be made
by the stockholders pursuant to Section 6(b) of this
Agreement and if (A) within fifteen (15) days after receipt by the Company of
the request for such determination, the Disinterested Directors resolve as
required by Section 6(b)(iii) of this Agreement to submit such determination to
the stockholders for their consideration at an annual meeting thereof to be held
within seventy-five (75) days after such receipt and such determination is made
thereat, or (B) a special meeting of stockholders is called within fifteen (15)
days after such receipt for the purpose of making such determination, such
meeting is held for such purpose within sixty (60) days after having been so
called and such determination is made thereat.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (h) Indemnitee shall cooperate with the
person, persons or entity making such determination with respect to Indemnitee’s
entitlement to indemnification, including providing to such person, persons or
entity upon reasonable advance request any documentation or information which is
not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such
determination.  Any Independent Counsel or member of the Board or
stockholder of the Company shall act reasonably and in good faith in making a
determination regarding Indemnitee’s entitlement to indemnification under this
Agreement.  Any costs or expenses (including attorneys’ fees and
disbursements) incurred by Indemnitee in so cooperating with the person, persons
or entity making such determination shall be borne by the Company (irrespective
of the determination as to Indemnitee’s entitlement to indemnification) and the
Company hereby indemnifies and agrees to hold Indemnitee harmless
therefrom.

     

    (i) The Company acknowledges that a
settlement or other disposition, including a conviction or a plea of nolo
contendere, short of final judgment may be successful if it permits a party to
avoid expense, delay, distraction, disruption and uncertainty.  In the
event that any action, claim or proceeding to which Indemnitee is a party is
resolved in any manner other than by adverse judgment against Indemnitee
(including, without limitation, settlement of such action, claim or proceeding
with or without payment of money or other consideration) it shall be presumed
that Indemnitee has been successful on the merits or otherwise in such action,
suit or proceeding, and it shall not create a presumption that the Indemnitee
did not act in good faith and in a manner reasonably believed to be in or not
opposed to the best interest of the Company or that, with respect to any
criminal Proceeding, the Indemnitee had reasonable cause to believe that his
conduct unlawful.  Anyone seeking to overcome this presumption shall
have the burden of proof and the burden of persuasion by clear and convincing
evidence.

     

    (j) The termination of any Proceeding or of
any claim, issue or matter therein, by judgment, order, settlement or
conviction, or upon a plea of nolo contendere or its equivalent, shall not of
itself adversely affect the right of Indemnitee to indemnification or create a
presumption that Indemnitee did not act in good faith and in a manner which he
reasonably believed to be in or not opposed to the best interests of the Company
or, with respect to any criminal Proceeding, that Indemnitee had reasonable
cause to believe that his conduct was unlawful.

     

    6. Remedies of
Indemnitee.

     

    (a) In the event that (i) a determination
is made pursuant to Section 6 of this
Agreement that Indemnitee is not entitled to indemnification under this
Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this
Agreement, (iii) no determination of entitlement to indemnification is made
pursuant to Section
6(b) or Section
6(c) of this Agreement within sixty (60) days after receipt by the
Company of the request for indemnification, (iv) payment of indemnification is
not made pursuant to this Agreement within ten (10) days after receipt by the
Company of a written request therefor or (v) payment of indemnification is not
made within ten (10) days after a determination has been made that Indemnitee is
entitled to indemnification or such determination is deemed to have been made
pursuant to Section
6 of this Agreement, Indemnitee shall be entitled to an adjudication of
Indemnitee’s entitlement to such indemnification or advancement of expenses
either, at the Indemnitee’s sole option, in (1) an appropriate court of the
State of Nevada, or any other court of competent jurisdiction, or (2) an
arbitration to be conducted by a single arbitrator, selected by mutual agreement
of the Company and Indemnitee, pursuant to the rules of the American Arbitration
Association. The Company shall not oppose Indemnitee’s right to seek any such
adjudication.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (b) In the event that a determination shall
have been made pursuant to Section 6(b) or Section 6(c) of this
Agreement that Indemnitee is not entitled to indemnification, (i) any judicial
proceeding or arbitration commenced pursuant to this Section 7 shall be
conducted in all respects de novo on the merits, and Indemnitee shall not be
prejudiced by reason of the adverse determination under Section 6(b) or Section 6(c); and
(ii) in any such judicial proceeding or arbitration, the Company shall have the
burden of proving that Indemnitee is not entitled to indemnification under this
Agreement.

     

    (c) If a determination shall have been made
pursuant to Section
6(b) or Section
6(c), or shall have been deemed to have been made pursuant to Section 6(g), of this
Agreement that Indemnitee is entitled to indemnification, the Company shall be
obligated to pay the amounts constituting such indemnification within five (5)
days after such determination has been made or has been deemed to have been made
and shall be conclusively bound by such determination in any judicial proceeding
commenced pursuant to this Section 7, unless the
Company establishes by written opinion of Independent Counsel that (i) a
misstatement by Indemnitee of a material fact, or an omission of a material fact
necessary to make Indemnitee’s misstatement not materially misleading in
connection with the request for indemnification, or (ii) a prohibition of such
indemnification under applicable law.

     

    (d) In the event that Indemnitee, pursuant
to this Section
7, seeks a judicial adjudication of, or an award in arbitration to
enforce, his rights under, or to recover damages for breach of, this Agreement,
or to recover under any directors’ and officers’ liability insurance policies
maintained by the Company, the Company shall pay to him or on his behalf, in
advance, and shall indemnify him against, any and all expenses (of the types
described in the definition of Expenses in Section 13 of this
Agreement) actually and reasonably incurred by him in such judicial adjudication
or arbitration, regardless of whether Indemnitee ultimately is determined to be
entitled to such indemnification, advancement of expenses or insurance
recovery.

     

    (e) The Company shall be precluded from
asserting in any judicial proceeding or arbitration commenced pursuant to this
Section 7 that
the procedures and presumptions of this Agreement are not valid, binding and
enforceable and shall stipulate in any such court or before any such arbitrator
that the Company is bound by all the provisions of this
Agreement.  The Company shall indemnify Indemnitee against any and all
Expenses and, if requested by Indemnitee, shall (within ten (10) days after
receipt by the Company of a written request therefore) advance, to the extent
not prohibited by law, such expenses to Indemnitee, which are incurred by
Indemnitee in connection with any action brought by Indemnitee for
indemnification or advance of Expenses from the Company under this Agreement or
under any directors' and officers' liability insurance policies maintained by
the Company, regardless of whether Indemnitee ultimately is determined to be
entitled to such indemnification, advancement of Expenses or insurance recovery,
as the case may be.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    7. Non-Exclusivity; Survival of
Rights; Insurance; Subrogation.

     

    (a) The rights of indemnification and
advancement of expenses as provided by this Agreement shall not be deemed
exclusive of, and shall be in addition to, any other rights to which Indemnitee
may at any time be entitled under applicable law, the Articles of Incorporation
or By-laws of the Company, any agreement, a vote of stockholders, a resolution
of directors or otherwise, and nothing in this Agreement shall diminish or
otherwise restrict Indemnitee’s rights to indemnification or advancement of
expenses under the foregoing.  No amendment, alteration or repeal of
this Agreement or of any provision hereof shall limit or restrict any right of
Indemnitee under this Agreement in respect of any action taken or omitted by
such Indemnitee in his Corporate Status prior to such amendment, alteration or
repeal.  To the extent that a change in the NRS, whether by statute or
judicial decision, permits greater indemnification than would be afforded
currently under the Company’s Articles of Incorporation, By-laws and this
Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by
this Agreement the greater benefits so afforded by such change and Indemnitee
shall be deemed to have such greater benefits hereunder.  No right or
remedy herein conferred is intended to be exclusive of any other right or
remedy, and every other right and remedy shall be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law
or in equity or otherwise.  The assertion or employment of any right
or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other right or remedy.  The Company shall not adopt
any amendments to its Articles of Incorporation or By-laws, the effect of which
would be to deny, diminish or encumber Indemnitee’s right to indemnification or
advancement of expenses under this Agreement, any other agreement or
otherwise.

     

    (b) To the extent that the Company
maintains an insurance policy or policies providing liability insurance for
directors, officers, employees, or agents or fiduciaries of the Company or of
any other corporation, partnership, joint venture, trust, employee benefit plan
or other enterprise that such person serves at the request of the Company,
Indemnitee shall be covered by such policy or policies in accordance with its or
their terms to the maximum extent of the coverage available for any director,
officer, employee, agent or fiduciary under such policy or
policies.  If, at the time of the receipt of a notice of a claim
pursuant to the terms hereof, the Company has director and officer liability
insurance in effect, the Company shall give prompt notice of the commencement of
such proceeding to the insurers in accordance with the procedures set forth in
the respective policies.  The Company shall thereafter take all
necessary or desirable action to cause such insurers to pay, on behalf of
Indemnitee, all amounts payable as a result of such proceeding in accordance
with the terms of such policies.

     

    (c) In the event of any payment under this
Agreement, the Company shall be subrogated to the extent of such payment to all
of the rights of recovery of Indemnitee, who shall execute all papers required
and take all action necessary to secure such rights, including execution of such
documents as are necessary to enable the Company to bring suit to enforce such
rights (with all of Indemnitee’s reasonable expenses, including, without
limitation, attorneys’ fees and charges, related thereto to be reimbursed by or,
at the option of Indemnitee, advanced by the Company).

     

    (d) The Company shall not be liable under
this Agreement to make any payment of amounts otherwise indemnifiable hereunder
if and to the extent that Indemnitee has otherwise actually received such
payment under any insurance policy, contract, agreement or
otherwise.

     

    (e) The Company's obligation to indemnify
or advance Expenses hereunder to Indemnitee who is or was serving at the request
of the Company as a director, officer, employee or agent of any other
corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise shall be reduced by any amount Indemnitee has actually received as
indemnification or advancement of expenses from such other corporation,
partnership, joint venture, trust, employee benefit plan or other
enterprise.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    8. Exception to Right of
Indemnification. Notwithstanding any provision in this Agreement, the
Company shall not be obligated under this Agreement to make any indemnity in
connection with any claim made against Indemnitee:

     

    (a) for which payment has actually been
made to or on behalf of Indemnitee under any insurance policy or other indemnity
provision, except with respect to any excess beyond the amount paid under any
insurance policy or other indemnity provision; or

     

    (b) for an accounting of profits made from
the purchase and sale (or sale and purchase) by Indemnitee of securities of the
Company within the meaning of Section 16(b) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), or
similar provisions of state statutory law or common law; or

     

    (c) in connection with any Proceeding (or
any part of any Proceeding) initiated by Indemnitee, including any Proceeding
(or any part of any Proceeding) initiated by Indemnitee against the Company or
its directors, officers, employees or other indemnitees, unless (i) the Board of
the Company authorized the Proceeding (or any part of any Proceeding) prior to
its initiation or (ii) the Company provides the indemnification, in its sole
discretion, pursuant to the powers vested in the Company under applicable
law.

     

    9. Retroactive Effect; Duration
of Agreement; Successors and Binding Agreement.  All agreements
and obligations of the Company contained herein shall be deemed to have become
effective upon the date Indemnitee first became an officer or director of the
Company; shall continue during the period Indemnitee is an officer or a director
of the Company (or is or was serving at the request of the Company as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise); and shall continue thereafter so long as
Indemnitee may be subject to any Proceeding (or any proceeding commenced under
Section 7
hereof) by reason of his Corporate Status, whether or not he is acting or
serving in any such capacity at the time any liability or expense is incurred
for which indemnification can be provided under this Agreement.  This
Agreement shall be binding upon and inure to the benefit of and be enforceable
by the parties hereto and their respective successors (including any direct or
indirect successor by purchase, merger, consolidation, reorganization or
otherwise to all or substantially all of the business or assets of the Company),
assigns, spouses, heirs, executors and personal and legal
representatives.  The Company shall require any such successor to all
or substantially all of the business or assets of the Company, by agreement in
form and substance satisfactory to Indemnitee and his counsel, expressly to
assume and agree to perform this Agreement in the same manner and to the same
extent the Company would be required to perform if no such succession had taken
place.  Except as otherwise set forth in this Section 10, this
Agreement shall not be assignable or delegable by the Company.

     

    10. Security.  To
the extent requested by Indemnitee and approved by the Board of the Company, the
Company may at any time and from time to time provide security to Indemnitee for
the Company’s obligations hereunder through an irrevocable bank line of credit,
funded trust or other collateral.  Any such security, once provided to
Indemnitee, may not be revoked or released without the prior written consent of
the Indemnitee.

     

    11. Enforcement.

     

    (a) The Company expressly confirms and
agrees that it has entered into this Agreement and assumes the obligations
imposed on it hereby in order to induce Indemnitee to serve, or continue to
serve, as an officer or a director of the Company, and the Company acknowledges
that Indemnitee is relying upon this Agreement in serving as an officer or a
director of the Company.

     

    (b) This Agreement constitutes the entire
agreement between the parties hereto with respect to the subject matter hereof
and supersedes all prior agreements and understandings, oral, written and
implied, between the parties hereto with respect to the subject matter
hereof.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    12. Definitions.  For
purposes of this Agreement:

     

    (a) “Change in Control”
means the occurrence of any one of the following events:

     

     

    (i)           any
“person” (as such term is defined in Section 3(a)(9) of the Exchange
Act and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act)
is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of the Company representing
35% or more of the combined voting power of the Company’s then outstanding
securities eligible to vote for the election of the Board (the “Company Voting
Securities”); provided, however, that the
event described in this paragraph (i) shall not be deemed to be a Change in
Control by virtue of any of the following acquisitions:  (A) by the
Company or any subsidiary; (B) by any employee benefit plan (or related
trust) sponsored or maintained by the Company or any subsidiary; (C) by any
underwriter temporarily holding securities pursuant to an offering of such
securities; (D) pursuant to a Non-Control Transaction (as defined in
paragraph (iii) below); or (E) a transaction (other than one described in
paragraph (iii) below) in which Company Voting Securities are acquired from the
Company, if a majority of the Incumbent Board (as defined in paragraph (ii)
below) approves a resolution providing expressly that the acquisition pursuant
to this clause (E) does not constitute a Change in Control under this paragraph
(i);

     

    (ii)           individuals
who, on June 17, 2009, constitute the Board (the “Incumbent Board”)
cease for any reason to constitute at least a majority thereof, provided that
any person becoming a director subsequent to June 17, 2009, whose election or
nomination for election was approved by a vote of at least two-thirds of the
directors comprising the Incumbent Board (either by a specific vote or by
approval of the proxy statement of the Company in which such person is named as
a nominee for director, without objection to such nomination) shall be
considered a member of the Incumbent Board; provided, however, that no
individual initially elected or nominated as a director of the Company as a
result of an actual or threatened election contest with respect to directors or
any other actual or threatened solicitation of proxies or consents by or on
behalf of any person other than the Board shall be deemed to be a member of the
Incumbent Board;

     

    (iii)           the
consummation of a merger, consolidation, share exchange or similar form of
corporate transaction involving the Company or any of its subsidiaries that
requires the approval of the Company’s stockholders (whether for such
transaction or the issuance of securities in the transaction or otherwise) (a
“Reorganization”),
unless immediately following such Reorganization:  (A) more than 60%
of the total voting power of (x) the corporation resulting from such
Reorganization (the “Surviving Company”),
or (y) if applicable, the ultimate parent corporation that directly or
indirectly has beneficial ownership of 95% of the voting securities eligible to
elect directors of the Surviving Company (the “Parent Company”), is
represented by Company Voting Securities that were outstanding immediately prior
to such Reorganization (or, if applicable, is represented by shares into which
such Company Voting Securities were converted pursuant to such Reorganization),
and such voting power among the holders thereof is in substantially the same
proportion as the voting power of such Company Voting Securities among holders
thereof immediately prior to the Reorganization; (B) no person (other than
any employee benefit plan (or related trust) sponsored or maintained by the
Surviving Company or the Parent Company) is or becomes the beneficial owner,
directly or indirectly, of 20% or more of the total voting power of the
outstanding voting securities eligible to elect directors of the Parent Company
(or, if there is no Parent Company, the Surviving Company); and (C) at
least a majority of the members of the board of directors of the Parent Company
(or, if there is no Parent Company, the Surviving Company) following the
consummation of the Reorganization were members of the Incumbent Board at the
time of the Board’s approval of the execution of the initial agreement providing
for such Reorganization (any Reorganization which satisfies all of the criteria
specified in (A), (B) and (C) above shall be deemed to be a “Non-Control
Transaction”);

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    

     

    (iv)           the
stockholders of the Company approve a plan of complete liquidation or
dissolution; or

     

    (v)           the
consummation of a sale (or series of sales) of all or substantially all of the
assets of the Company and its subsidiaries to an entity that is not an affiliate
of the Company.

     

    Notwithstanding
the foregoing, a Change in Control shall not be deemed to occur solely because
any person acquires beneficial ownership of 35% or more of the Company Voting
Securities as a result of the acquisition of Company Voting Securities by the
Company which reduces the number of Company Voting Securities outstanding;
provided, that, if after such acquisition by the Company such person becomes the
beneficial owner of additional Company Voting Securities that increases the
percentage of outstanding Company Voting Securities beneficially owned by such
person, a Change in Control shall then occur.

     

    

    (b)            “Corporate Status”
describes the status of a person who is or was a director, officer, employee,
agent or fiduciary of the Company or of any other corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise that such person
is or was serving at the request of the Company.

     

    (c) “Disinterested
Director” means a director of the Company who is not and was not a party
to the Proceeding in respect of which indemnification is sought by
Indemnitee.

     

    (d) “Enterprise” shall
mean the Company and any other corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise that Indemnitee is or was serving at
the express written request of the Company as a director, officer, employee,
agent or fiduciary.

     

    (e) “Expenses” shall
include all reasonable attorneys’ fees, retainers, court costs, transcript
costs, fees of experts, witness fees, travel expenses, duplicating costs,
printing and binding costs, telephone charges, postage, delivery service fees
and all other disbursements or expenses of the types customarily incurred or
actually incurred in connection with prosecuting, defending, preparing to
prosecute or defend, investigating, participating, or being or preparing to be a
witness in a Proceeding, or responding to, or objecting to, a request to provide
discovery in a Proceeding.  Expenses also shall include Expenses
incurred in connection with any appeal resulting from any Proceeding, and any
federal, state, local or foreign taxes imposed on the Indemnitee as a result of
the actual or deemed receipt of any payments under this Agreement, including,
without limitation, the premium, security for, and other costs relating to any
cost bond, supersede as bond, or other appeal bond or its
equivalent.  Expenses, however, shall not include amounts paid in
settlement by Indemnitee or the amount of judgments or fines against
Indemnitee.

     

    (f) “Independent Counsel”
means a law firm, or a member of a law firm, that is experienced in matters of
corporation law and neither presently is, nor in the past five (5) years has
been, retained to represent:  (i) the Company or Indemnitee in any
matter material to either such party (other than with respect to matters
concerning Indemnitee under this Agreement, or of other indemnitees under
similar indemnification agreements), or (ii) any other party to the Proceeding
giving rise to a claim for indemnification hereunder.  Notwithstanding
the foregoing, the term “Independent Counsel” shall not include any person who,
under the applicable standards of professional conduct then prevailing, would
have a conflict of interest in representing either the Company or Indemnitee in
an action to determine Indemnitee’s rights under this Agreement.  The
Company agrees to pay the reasonable fees of the Independent Counsel referred to
above and to fully indemnify such counsel against any and all Expenses, claims,
liabilities and damages arising out of or relating to this Agreement or its
engagement pursuant hereto.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (g) “Proceeding” includes
any threatened, pending or completed action, suit, arbitration, alternate
dispute resolution mechanism, investigation, inquiry, administrative hearing or
any other actual, threatened or completed proceeding, whether brought by or in
the right of the Company or otherwise and whether civil, criminal,
administrative or investigative, in which Indemnitee was, is or will be involved
as a party or otherwise, by reason of the fact that Indemnitee is or was an
officer or a director of the Company, by reason of any action taken by him or of
any inaction on his part while acting as an officer or a director of the
Company, or by reason of the fact that he is or was serving at the request of
the Company as a director, officer, employee, agent or fiduciary of another
corporation, partnership, joint venture, trust or other Enterprise; in each case
whether or not he is acting or serving in any such capacity at the time any
liability or expense is incurred for which indemnification can be provided under
this Agreement; including one pending on or before the date of this Agreement,
but excluding one initiated by an Indemnitee pursuant to Section 7 of this
Agreement to enforce his rights under this Agreement.

     

    13. Severability.  The
invalidity or unenforceability of any provision hereof shall in no way affect
the validity or enforceability of any other provision.  Without
limiting the generality of the foregoing, this Agreement is intended to confer
upon Indemnitee indemnification rights to the fullest extent permitted by
applicable laws.  In the event any provision hereof conflicts with any
applicable law, such provision shall be deemed modified, consistent with the
aforementioned intent, to the extent necessary to resolve such
conflict.

     

    14. Modification and
Waiver.  No supplement, modification, termination or amendment
of this Agreement shall be binding unless executed in writing by both of the
parties hereto.  No waiver of any of the provisions of this Agreement
shall be deemed or shall constitute a waiver of any other provisions hereof
(whether or not similar) nor shall such waiver constitute a continuing
waiver.

     

    15. Notice By
Indemnitee.  Indemnitee agrees promptly to notify the Company
in writing upon being served with or otherwise receiving any summons, citation,
subpoena, complaint, indictment, information or other document relating to any
Proceeding or matter which may be subject to indemnification covered
hereunder.  The failure to so notify the Company shall not relieve the
Company of any obligation which it may have to Indemnitee under this Agreement
unless, and only to the extent that, the Company is actually and materially
prejudiced as a direct result of such delay or failure.

     

    16. Notices.  All
notices and other communications given or made pursuant to this Agreement shall
be in writing and shall be deemed effectively given:  (a) upon
personal delivery to the party to be notified, (b) when sent by confirmed
electronic mail or facsimile if sent during normal business hours of the
recipient, and if not so confirmed, then on the next business day, (c) five (5)
days after having been sent by registered or certified mail, return receipt
requested, postage prepaid, or (d) one (1) day after deposit with a nationally
recognized overnight courier, specifying next day delivery, with written
verification of receipt.  All communications shall be
sent:

     

    (a) To Indemnitee at the address set forth
below Indemnitee’s signature hereto.

     

    (b) To the Company at:

     

    
      	
              ULURU
      Inc.

              4452
      Beltway Drive

            
	
              Addison,
      Texas 75001

              Attention:
      Chief Financial Officer

            

    

    

    or to
such other address as may have been furnished to Indemnitee by the Company or to
the Company by Indemnitee, as the case may be.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    17. Counterparts.  This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
Agreement.  Executed counterparts may be delivered by facsimile and
shall be deemed an original, but all of such counterparts  together
shall constitute one and the same instrument.

     

    18. Headings.  The
headings of the paragraphs of this Agreement are inserted for convenience only
and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

     

    19.            Successors and
Assigns.  The terms of this Agreement shall be binding upon the
Company and its successors and assigns and shall inure to the benefit of
Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors,
administrators and other legal representatives.

     

    20. Governing Law and Consent to
Jurisdiction.  This Agreement and the legal relations among the
parties shall be governed by, and construed and enforced in accordance with, the
laws of the State of Nevada, without regard to its conflict of laws rules. The
Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any
action or proceeding arising out of or in connection with this Agreement (other
than an arbitration pursuant to Section 7 hereof)
shall be brought only in the appropriate court of the State of Nevada (the
“Nevada
Court”), and not in any other state or federal court in the United States
of America or any court in any other country, (ii) consent to submit to the
exclusive jurisdiction of the Nevada Court for purposes of such action or
proceeding, (iii) waive any objection to the laying of venue of any such action
or proceeding in the Nevada Court, and (iv) waive, and agree not to plead or to
make, any claim that any such action or proceeding brought in the Nevada Court
has been brought in an improper or inconvenient forum.

     

    

     

    SIGNATURE
PAGE TO FOLLOW

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of
the day and year first above written.

     

    ULURU
Inc.

    

    

    By:                                                               

    Name:                                                               

    Title:                                                               

    

    

    

    INDEMNITEE

    

    ______________________________________

    [Name]

    

    Address:

    ______________________________________

    ______________________________________

    ______________________________________

    ______________________________________ex_4-1.htm

    
 

    
      

      

    

     

    EXHIBIT
4.1

     

    

     

    

     

    FORM
OF SENIOR INDENTURE

     

     

    ULURU
Inc.

     

    and

     

    [                             
]

     

    TRUSTEE

     

    INDENTURE

     

     

    DATED
AS OF [                   ],
[   
   ]

     

     

    SENIOR
DEBT SECURITIES

     

     

    

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              TABLE
      OF CONTENTS

            

    

     

    

     

    
      	
               

            	
               

            	
               

            

    

     

    
                     ARTICLE ONE.    DEFINITIONS
AND OTHER PROVISIONS OF GERNERAL APPLICATION

       

    

    
      	
               
      

            	
              SECTION
      1.01.Definitions                                                  

            

    

    
      	
               
      

            	
              SECTION
      1.02.Compliance Certificates and Opinions                                    

            

    

    
      	
               
      

            	
              SECTION
      1.03.Form of Documents Delivered to Trustee                                    

            

    

    
      	
               
      

            	
              SECTION
      1.04.Acts of Holders                                                

            

    

    
      	
               
      

            	
              SECTION
      1.05.Notices, Etc., to Trustee and Company                                  

            

    

    
      	
               
      

            	
              SECTION
      1.06.Notice to Holders; Waiver                                         

            

    

    
      	
               
      

            	
              SECTION
      1.07.Conflict with Trust Indenture Act                                    

            

    

    
      	
               
      

            	
              SECTION
      1.08.Effect of Headings and Table of Contents                              

            

    

    
      	
               
      

            	
              SECTION
      1.09.Successors and Assigns                                        

            

    

    
      	
               
      

            	
              SECTION
      1.10.Separability Clause                                          

            

    

    
      	
               
      

            	
              SECTION
      1.11.Benefits of Indenture                

            

    

    
      	
               
      

            	
              SECTION
      1.12.Governing Law

            

    

    
      	
               
      

            	
              SECTION
      1.13.Legal Holidays

            

    

    
      	
               
      

            	
              SECTION
      1.14.Indenture and Securities Solely Corporate
  Obligations

            

    

    
      	
               
      

            	
              SECTION
      1.15.Consent of Holders of Securities in a Foreign Currency or
      Euros

            

    

    
      	
               
      

            	
              SECTION
      1.16.Payment Currency

            

    

     

     

    
      	
               
      

            	
              ARTICLE
      TWO.    SECURITY
  FORMS

            

    

     

    
      	
               
      

            	
              SECTION
      2.01.Forms Generally

            

    

    
      	
               
      

            	
              SECTION
      2.02.Form of Trustee’s Certificate of
  Authentication

            

    

     

     

    
      	
               
      

            	
              ARTICLE
      THREE.    THE
  SECURITIES

            

    

     

    
      	
               
      

            	
              SECTION
      3.01.Amount; Issuable in Series

            

    

    
      	
               
      

            	
              SECTION
      3.02.Denominations

            

    

    
      	
               
      

            	
              SECTION
      3.03.Execution, Authentication, Delivery and
  Dating

            

    

    
      	
               
      

            	
              SECTION
      3.04.Temporary Securities

            

    

    
      	
               
      

            	
              SECTION
      3.05.Registration, Registration of Transfer and
  Exchange

            

    

    
      	
               
      

            	
              SECTION
      3.06.Mutilated, Destroyed, Lost and Stolen
  Securities

            

    

    
      	
               
      

            	
              SECTION
      3.07.Payment of Interest; Interest Rights Preserved; Optional Interest
      Reset

            

    

    
      	
               
      

            	
              SECTION
      3.08.Persons Deemed Owners

            

    

    
      	
               
      

            	
              SECTION
      3.09.Cancellation

            

    

    
      	
               
      

            	
              SECTION
      3.10.Computation of Interest

            

    

    
      	
               
      

            	
              SECTION
      3.11.Global Securities

            

    

    
      	
               
      

            	
              SECTION
      3.12.Optional Extension of Maturity

            

    

    
      	
               
      

            	
              SECTION
      3.13.CUSIP and ISIN Numbers

            

    

     

     

    
      	
               
      

            	
              ARTICLE
      FOUR.    SATISFACTION AND
      DISCHARGE22

            

    

     

    
      	
               
      

            	
              SECTION
      4.01.Satisfaction and Discharge of Securities of any
    Series22

            

    

    
      	
               
      

            	
              SECTION
      4.02.Satisfaction and Discharge of
Indenture23

            

    

    
      	
               
      

            	
              SECTION
      4.03.Application of Trust Money24

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	
               
      

            	
              ARTICLE
      FIVE.    REMEDIES

            

    

     

    
      	
               
      

            	
              SECTION
      5.01.Events of Default

            

    

    
      	
               
      

            	
              SECTION
      5.02.Acceleration of Maturity; Rescission and
  Annulment

            

    

    
      	
               
      

            	
              SECTION
      5.03.Collection of Indebtedness and Suits for Enforcement by
      Trustee

            

    

    
      	
               
      

            	
              SECTION
      5.04.Trustee May File Proofs of
Claim

            

    

    
      	
               
      

            	
              SECTION
      5.05.Trustee May Enforce Claims Without Possession of
      Securities

            

    

    
      	
               
      

            	
              SECTION
      5.06.Application of Money Collected

            

    

    
      	
               
      

            	
              SECTION
      5.07.Limitation on Suits

            

    

    
      	
               
      

            	
              SECTION
      5.08.Unconditional Right of Holders to Receive Principal, Premium and
      Interest

            

    

    
      	
               
      

            	
              SECTION
      5.09.Restoration of Rights and
Remedies

            

    

    
      	
               
      

            	
              SECTION
      5.10.Rights and Remedies Cumulative

            

    

    
      	
               
      

            	
              SECTION
      5.11.Delay or Omission Not Waiver

            

    

    
      	
               
      

            	
              SECTION
      5.12.Control by Holders

            

    

    
      	
               
      

            	
              SECTION
      5.13.Waiver of Past Defaults

            

    

    
      	
               
      

            	
              SECTION
      5.14.Undertaking for Costs

            

    

     

     

    
      	
               

            	
               

            	
               

            

    

                    ARTICLE SIX.    THE
TRUSTEE

     

    
      	
               
      

            	
              SECTION
      6.01.Certain Duties and
Responsibilities

            

    

    
      	
               
      

            	
              SECTION
      6.02.Notice of Defaults

            

    

    
      	
               
      

            	
              SECTION
      6.03.Certain Rights of Trustee

            

    

    
      	
               
      

            	
              SECTION
      6.04.Not Responsible for Recitals or Issuance of
  Securities

            

    

    
      	
               
      

            	
              SECTION
      6.05.May Hold Securities

            

    

    
      	
               
      

            	
              SECTION
      6.06.Money Held in Trust

            

    

    
      	
               
      

            	
              SECTION
      6.07.Compensation and Reimbursement

            

    

    
      	
               
      

            	
              SECTION
      6.08.Corporate Trustee Required; Eligibility; Conflicting
      Interests

            

    

    
      	
               
      

            	
              SECTION
      6.09.Resignation and Removal; Appointment of
  Successor

            

    

    
      	
               
      

            	
              SECTION
      6.10.Acceptance of Appointment by
Successor

            

    

    
      	
               
      

            	
              SECTION
      6.11.Merger, Conversion, Consolidation or Succession to
      Business

            

    

    
      	
               
      

            	
              SECTION
      6.12.Preferential Collection of Claims Against
  Company

            

    

    
      	
               
      

            	
              SECTION
      6.13.Appointment of Authenticating
Agent

            

    

     

     

    
      	
               
      

            	
              ARTICLE
      SEVEN.    HOLDERS’ LISTS AND REPORTS BY
      TRUSTEE AND COMPANY

            

    

     

    
      	
               
      

            	
              SECTION
      7.01.Holder Lists

            

    

    
      	
               
      

            	
              SECTION
      7.02.Communications by Holders with Other
  Holders

            

    

    
      	
               
      

            	
              SECTION
      7.03.Reports by Trustee

            

    

    
      	
               
      

            	
              SECTION
      7.04.Reports by Company

            

    

     

     

    
      	
               
      

            	
              ARTICLE
      EIGHT.    SUCCESSOR
    CORPORATION

            

    

     

    
      	
               
      

            	
              SECTION
      8.01.Limitation on Consolidation, Merger and Sale of
  Assets

            

    

    
      	
               
      

            	
              SECTION
      8.02.Successor Person Substituted

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	
               
      

            	
              ARTICLE
      NINE.    SUPPLEMENTAL
    INDENTURES

            

    

     

    
      	
               
      

            	
              SECTION
      9.01.Supplemental Indentures Without Consent of
  Holders

            

    

    
      	
               
      

            	
              SECTION
      9.02.Supplemental Indentures with Consent of
  Holders

            

    

    
      	
               
      

            	
              SECTION
      9.03.Execution of Supplemental
Indentures

            

    

    
      	
               
      

            	
              SECTION
      9.04.Effect of Supplemental
Indentures

            

    

    
      	
               
      

            	
              SECTION
      9.05.Conformity with Trust Indenture
Act

            

    

    
      	
               
      

            	
              SECTION
      9.06.Reference in Securities to Supplemental
  Indentures

            

    

     

     

                

      	
               

            	
               

            	
               

            

    

                    ARTICLE TEN.    COVENANTS

     

    
      	
               
      

            	
              SECTION
      10.01.Payment of Principal, Premium and
Interest

            

    

    
      	
               
      

            	
              SECTION
      10.02.Maintenance of Office or
Agency

            

    

    
      	
               
      

            	
              SECTION
      10.03.Money for Securities Payments to Be Held in
  Trust

            

    

    
      	
               
      

            	
              SECTION
      10.04.Corporate Existence

            

    

    
      	
               
      

            	
              SECTION
      10.05.Statement as to Compliance

            

    

    
      	
               
      

            	
              SECTION
      10.06.Waiver of Certain Covenants

            

    

     

     

    
      	
               
      

            	
              ARTICLE
      ELEVEN.    REDEMPTION OF
      SECURITIES

            

    

     

    
      	
               
      

            	
              SECTION
      11.01.Applicability of Article

            

    

    
      	
               
      

            	
              SECTION
      11.02.Election to Redeem; Notice to
Trustee

            

    

    
      	
               
      

            	
              SECTION
      11.03.Selection by Trustee of Securities to be
  Redeemed

            

    

    
      	
               
      

            	
              SECTION
      11.04.Notice of Redemption

            

    

    
      	
               
      

            	
              SECTION
      11.05.Deposit of Redemption Price

            

    

    
      	
               
      

            	
              SECTION
      11.06.Securities Payable on Redemption
Date

            

    

    
      	
               
      

            	
              SECTION
      11.07.Securities Redeemed in Part

            

    

     

     

    
      	
               
      

            	
              ARTICLE
      TWELVE.    SINKING
  FUNDS

            

    

     

    
      	
               
      

            	
              SECTION
      12.01.Applicability of Article

            

    

    
      	
               
      

            	
              SECTION
      12.02.Satisfaction of Sinking Fund Payments with
  Securities

            

    

    
      	
               
      

            	
              SECTION
      12.03.Redemption of Securities for Sinking
Fund

            

    

     

     

    
      	
               
      

            	
              ARTICLE
      THIRTEEN.    REPAYMENT AT THE OPTION OF
      HOLDERS

            

    

     

    
      	
               
      

            	
              SECTION
      13.01.Applicability of Article

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    INDENTURE,
dated as of [                                
], [            
], between ULURU Inc., a corporation duly organized and existing under the laws
of the State of Nevada (herein called the “Company”), and [                    
    ], as trustee (herein called the
“Trustee”).

     

    RECITALS
OF THE COMPANY

     

    The
Company has duly authorized the execution and delivery of this Indenture to
provide for the issuance from time to time of its unsecured or secured and
unsubordinated debentures, notes or other evidences of senior indebtedness
(herein called the “Securities”), to be issued in one or more series as in this
Indenture provided.

     

    All
things necessary to make this Indenture a valid agreement of the Company, in
accordance with its terms, have been done.

     

    NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

     

    For and
in consideration of the premises and the purchase of the securities by the
Holders thereof, it is mutually covenanted and agreed, for the equal and
proportionate benefit of all holders of the Securities or of any series thereof,
as follows:

     

    ARTICLE
ONE.                                

     

    DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATION

     

    SECTION
1.01.   Definitions.

     

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

     

    (1) the terms
defined in this Article have the meanings assigned to them in this Article and
include the plural as well as the singular;

     

    (2) all other
terms used herein which are defined in the Trust Indenture Act, either directly
or by reference therein, have the meanings assigned to them
therein;

     

    (3) all
accounting terms not otherwise defined herein have the meanings assigned to them
in accordance with generally accepted accounting principles and, except as
otherwise herein expressly provided, the term “generally accepted accounting
principles” with respect to any computation required or permitted hereunder
shall mean such accounting principles as are generally accepted in the United
States of America at the date of such computation; and

     

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

     

    “Act,”
when used with respect to any Holder, has the meaning specified in
Section 104.

     

    “Affiliate”
of any specified person means any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
such specified Person. For the purposes of this definition, “control” when used
with respect to any specified Person means the power to direct the management
and policies of such person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms
“controlling” and “controlled” have meanings correlative to the
foregoing.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “Authenticating
Agent” means any Person authorized by the Trustee to act on behalf of the
Trustee to authenticate and deliver one or more series of
Securities.

     

    “Beneficial
Owner” means, with respect to Global Securities, the Person who is the
beneficial owner of such Securities as effected on the books of the Depositary
for such Securities or on the books of a Person maintaining an account with such
Depositary (directly or as an indirect participant, in accordance with the rules
of such Depositary).

     

    “Board of
Directors” means either the board of directors of the Company or any duly
authorized committee of that board.

     

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

     

    “Business
Day,” when used with respect to any Place of Payment, means each Monday,
Tuesday, Wednesday, Thursday and Friday which is not a day on which banking
institutions in that Place of Payment, and (i) with respect to Securities
denominated in a Foreign Currency, the capital city of the country of the
Foreign Currency, or (ii) with respect to Securities denominated in Euros,
Luxembourg, are authorized or obligated by it to close.

     

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

     

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

     

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

     

    “Corporate
Trust Office” means the principal corporate trust office of the Trustee at which
at any particular time its corporate trust business shall be principally
administered. At the date of this Indenture, the Corporate Trust Office of the
Trustee is located at [            ],
except that whenever a provision herein refers to an office or agency of the
Trustee in the Borough of Manhattan, City of New York, New York, such office is
located, at the date hereof, at [       
 ].

     

    “Corporation”
includes corporations, associations, companies and business trusts.

     

    “Defaulted
Interest” has the meaning specified in Section 307.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “Depositary”
means a clearing agency registered as such under the Securities Exchange Act of
1934, as amended, or any successor thereto, which shall in either case be
designated by the Company pursuant to Section 301 until a successor
Depositary shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Depositary” shall mean or include each Person who is
then a Depositary hereunder, and if at any time there is more than one such
Person, such Persons. “Depositary” as used with respect to the Securities of any
series shall mean the Depositary with respect to the Securities of that
series.

     

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

     

    “Euro”
means the single currency of participating member states of the economic and
monetary union as contemplated in the Treaty on European Union.

     

    “Event of
Default” has the meaning specified in Section 501.

     

    “Extension
Notice” has the meaning specified in Section 312.

     

    “Extension
Period” has the meaning specified in Section 312.

     

    “Final
Maturity” has the meaning specified in Section 312.

     

    “Fixed
Rate Security” means a Security which provides for the payment of interest at a
fixed rate.

     

    “Floating
Rate Security” means a Security which provides for the payment of interest at a
variable rate determined periodically by reference to an interest rate index or
other index specified pursuant to Section 301.

     

    “Foreign
Currency” means a currency, other than the Euro, issued by the government of a
country other than the United States of America.

     

    “Global
Security” means a Security evidencing all or part of a series of Securities
which is executed by the Company and authenticated and delivered to the
Depositary for such series or its nominee, all in accordance with this Indenture
and pursuant to a Company Order, which shall be registered in the name of the
Depositary or its nominee and which shall represent the amount of uncertificated
securities as specified therein.

     

    “Holder”
means a Person in whose name a Security is registered in the Security
Register.

     

    “Indenture”
means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into pursuant to the applicable provisions hereof and shall include any
Officers’ Certificates setting forth the form and terms of particular series of
Securities as contemplated by Sections 201 and 301.

     

    “Interest,”
when used with respect to an Original Issue Discount Security which by its terms
bears interest only after Maturity, means interest payable after
Maturity.

     

    “Interest
Payment Date,” when used with respect to any Security, means the Stated Maturity
of an installment of interest on such Security.

     

    “Journal”
means the official Journal of the European Union or successor publication
thereto.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “Lien”
means any mortgage, pledge, lien, security interest or encumbrance.

     

    “Market
Exchange Rate” means on a given date, the noon Dollar buying rate in New York
City for cable transfers of a currency as published by the Federal Reserve Bank
of New York; provided that, in the case of the Euro, 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 Journal.

     

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

     

    “Officers’
Certificate” means a certificate signed by the Chairman, the President, a Vice
President or the Treasurer, and by an Assistant Treasurer, the Controller, an
Assistant Controller, the Secretary or an Assistant Secretary, of the Company,
and delivered to the Trustee.

     

    “Opinion
of Counsel” means a written opinion of counsel, who may be an employee of or
counsel for the Company or the Trustee, and who shall be acceptable to the
Trustee, which opinion is delivered to the Trustee.

     

    “Optional
Reset Date” has the meaning specified in Section 307.

     

    “Original
Issue Discount Security” means any Security which provides for an amount less
than the principal amount thereof to be due and payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 502.

     

    “Original
Stated Maturity” has the meaning specified in Section 312.

     

    “Outstanding,”
when used with respect to Securities, means, as of the date of determination,
all Securities theretofore authenticated and delivered under this Indenture,
except:

     

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

     

    (ii) Securities
or portions thereof for whose payment or redemption money in the necessary
amount has been theretofore deposited with the Trustee or any Paying Agent
(other than the Company) in trust or set aside and segregated in trust by the
Company (if the Company shall act as its own Paying Agent) for the Holders of
such Securities; provided that, if such Securities or portions thereof are to be
redeemed, notice of such redemption has been duly given pursuant to this
Indenture or provision therefor satisfactory to the Trustee has been made;
and

     

    (iii) Securities
which have been paid pursuant to Section 306 or in exchange for or in lieu
of which other Securities have been authenticated and delivered pursuant to this
Indenture, other than any such Securities in respect of which there shall have
been presented to the Trustee proof satisfactory to it that such Securities are
held by a bona fide purchaser in whose hands such Securities are valid
obligations of the Company;

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    provided,
however, that 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, Securities owned by the Company
or any other obligor upon the Securities or any Affiliate of the Company or of
such other obligor shall be disregarded and deemed not to be Outstanding, except
that, in determining whether the Trustee shall be protected in relying upon any
such request, demand, authorization, direction, notice, consent or waiver, only
Securities which the Trustee knows to be so owned shall be so disregarded.
Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee the
pledgee’s right so to act with respect to such Securities and that the pledgee
is not the Company or any other obligor upon the Securities or any Affiliate of
the Company or of such other obligor. In determining the requisite principal
amount of any Original Issue Discount Security, such principal amount that shall
be deemed to be Outstanding shall be equal to the amount of the principal
thereof that could be declared to be due and payable upon an Event of Default
pursuant to the terms of such Original Issue Discount Security at the time of
such determination.

     

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

     

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

     

    “Place of
Payment,” when used with respect to the Securities of any series, means the
place or places where the principal of (and premium, if any) and interest, if
any, on the Securities of that series are payable as specified as contemplated
in Section 301 or, if not so specified, as specified in
Section 1002.

     

    “Predecessor
Security” of any particular Security means every previous Security evidencing
all or a portion of the same debt as that evidenced by such particular Security;
and, for the purposes of this definition, any Security authenticated and
delivered under Section 306 in lieu of a mutilated, destroyed, lost or
stolen Security shall be deemed to evidence the same debt as the mutilated,
destroyed, lost or stolen Security.

     

    “Property”
means any kind of property or asset, whether real, personal or mixed, tangible
or intangible.

     

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

     

    “Redemption
Price,” when used with respect to any Security to be redeemed, means the price
at which it is to be redeemed pursuant to this Indenture.

     

    “Regular
Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as
contemplated by Section 301.

     

    “Reset
Notice” has the meaning specified in Section 307.

     

    “Responsible
Officer,” when used with respect to the Trustee, means any officer of the
Trustee assigned to administer corporate trust matters and also means, with
respect to a particular corporate trust matter, any other officer to whom such
matter is referred because of his or her knowledge of and familiarity with the
particular subject.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “Securities”
has the meaning stated in the first recital of this Indenture and more
particularly means any Securities authenticated and delivered under this
Indenture.

     

    “Security
Register” and “Security Registrar” have the respective meanings specified in
Section 305.

     

    “Special
Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 307.

     

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

     

    “Subsequent
Interest Period” has the meaning specified in Section 307.

     

    “Subsidiary”
means with respect to any Person, any corporation, association, joint venture,
partnership, limited liability company or other business entity of which at
least a majority of the voting stock or other ownership interests having voting
power for the election of directors, managers or trustees (or the equivalent)
is, at the time as of which any determination is being made, owned or controlled
by such Person or one or more Subsidiaries of such Person, or by such Person and
one or more Subsidiaries of such Person, other than shares, interests,
participations or other equivalents having such power by reason of the
occurrence of any contingency.

     

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

     

    “Trust
Indenture Act” means the Trust Indenture Act of 1939 (15 U.S. Code Sections
77aaa-77bbbb) as in force at the date on the date of this Indenture, except as
provided in Section 905.

     

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

     

    SECTION
1.02.   Compliance
Certificates and Opinions.

     

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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

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

     

    (1) a
statement that each individual signing such certificate or opinion has read such
condition or covenant and the definitions herein relating thereto;

     

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

     

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

     

    (4) a
statement as to whether, in the opinion of each such individual, such condition
or covenant has been complied with.

     

    SECTION
1.03.   Form
of Documents Delivered to Trustee.

     

    In any
case where several matters are required to be certified by, or covered by an
opinion of, any specified Person, it is not necessary that all such matters be
certified by, or covered by the opinion of, only one such Person, or that they
be so certified or covered by only one document, but one such Person may certify
or give an opinion with respect to some matters and one or more other such
Persons as to other matters, and any such Person may certify or give an opinion
as to such matters in one or several documents.

     

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

     

    Where any
Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this
Indenture, they may, but need not, be consolidated and form one
instrument.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    SECTION
1.04.   Acts
of Holders.

     

    (a) Any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders (or Holders of
any series) may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by agent duly
appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered
to the Trustee and, where it is hereby expressly required, to the Company. Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders signing
such instrument or instruments, proof of execution of any such instrument or of
a writing appointing any such agent shall be sufficient for any purpose of this
Indenture and (subject to Section 601) conclusive in favor of the Trustee
and the Company and any agent of the Trustee or the Company, if made in the
manner provided in this Section.

     

    (b) The fact
and date of the execution by any person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by a certificate of a
notary public or other officer authorized by law to take acknowledgments of
deeds, certifying that the individual signing such instrument or writing
acknowledged to him the execution thereof. Where such execution is by a signer
acting in a capacity other than his individual capacity, such certificate or
affidavit shall also constitute sufficient proof of his authority. The fact and
date of the execution of any such instrument or writing, or the authority of the
person executing the same, may also be proved in any other manner which the
Trustee deems sufficient; and the Trustee may in any instance require further
proof with respect to any of the matters referred to in this
Section.

     

    (c) The
ownership of Securities and the principal amount held by any Person and the date
of holding the same shall be proved by the Security Register.

     

    (d) If the
Company shall solicit from the Holders any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may, at its option,
by Board Resolution, fix in advance a record date for the determination of
Holders entitled to give such request, demand, authorization, direction, notice,
consent, waiver or other Act, but the Company shall have no obligation to do so.
If such a record date is fixed, such request, demand, authorization, direction,
notice, consent, waiver or other Act may be given before or after such record
date, but only the Holders of record at the close of business on such record
date shall be deemed to be Holders for the purposes of determining whether
Holders of the requisite proportion of Outstanding Securities have authorized or
agreed or consented to such request, demand, authorization, direction, notice,
consent, waiver or other Act, and for that purpose the Outstanding Securities
shall be computed as of such record date, provided that no such authorization,
agreement or consent by the Holders on such record date shall be deemed
effective unless it shall become effective pursuant to the provision of this
Indenture not later than six months after the record date.

     

    (e) Any
request, demand, authorization, direction, notice, consent, waiver or other Act
of the Holder of any Security shall bind every future Holder of the same
Security and the Holder of every Security issued upon the registration of
transfer thereof or in exchange therefor or in lieu thereof in respect of
anything done, omitted or suffered to be done by the Trustee, the Security
Registrar, any Paying Agent or the Company in reliance thereon, whether or not
notation of such action is made upon such Security.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
1.05.   Notices,
Etc., to Trustee and Company.

     

    Except as
otherwise specifically provided herein, any request, demand, authorization,
direction, notice, consent, waiver or Act of Holders or other document provided
or permitted by this Indenture to be made upon, given or furnished to, or filed
with:

     

    (1) the
Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee
at its Corporate Trust Office; or

     

    (2) the
Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to the Company addressed to the attention of its
Treasurer at [  ] or any other address subsequently furnished in
writing to the Trustee by the Company.

     

    SECTION
1.06.   Notice
to Holders; Waiver.

     

    Where
this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing
and mailed, first-class postage prepaid, to each Holder affected by such event,
at his address as it appears in the Security Register, not later than the latest
date, and not earlier than the earliest date, prescribed for the giving of such
notice. In any case where notice to Holders is given by mail, neither the
failure to mail such notice, nor any defect in any notice so mailed, to any
particular Holder shall affect the sufficiency of such notice with respect to
other Holders. Any notice mailed in the manner prescribed by this Indenture
shall be conclusively presumed to have been duly given whether or not received
by any particular Holder. Where this Indenture provides for notice in any
manner, such notice may be waived in writing by the Person entitled to receive
such notice, either before or after the event, and such waiver shall be the
equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of
any action taken in reliance upon such waiver.

     

    In case
by reason of the suspension of regular mail service or by reason of any other
cause it shall be impracticable to give such notice by mail, then such
notification as shall be made with the approval of the Trustee shall constitute
a sufficient notification for every purpose hereunder.

     

    In the
case of Global Securities, notices or communications to be given to Holders
shall be given to the Depository, in accordance with its applicable policies
from time to time.

     

    SECTION
1.07.   Conflict
with Trust Indenture Act.

     

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

     

    SECTION
1.08.   Effect
of Headings and Table of Contents.

     

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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
1.09.   Successors
and Assigns.

     

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

     

    SECTION
1.10.   Separability
Clause.

     

    In case
any provision of 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, and a Holder
shall have no claim therefor against any party hereto.

     

    SECTION
1.11.   Benefits
of Indenture.

     

    Nothing
in this Indenture or in the Securities, express or implied, shall give to any
Person, other than the parties hereto, any Paying Agent, any Security Registrar,
or any Authenticating Agent and their respective successors hereunder and the
Holders, any benefit or any legal or equitable right, remedy or claim under this
Indenture.

     

    SECTION
1.12.   Governing
Law.

     

    This
Indenture and the Securities shall be governed and construed by and in
accordance with the laws of the State of New York, as applied to contracts made
and performed within the State of New York without regard to principles of
conflicts of laws.

     

    SECTION
1.13.   Legal
Holidays.

     

    In any
case where any Interest Payment Date, Redemption Date, the Stated Maturity of
any Security or any date upon which any Defaulted Interest is proposed to be
paid shall not be a Business Day at any Place of Payment, then (notwithstanding
any other provision of this Indenture or of the Securities) payment of interest,
if any, or principal (and premium, if any) need not be made at such Place of
Payment on such date, but may be made on the next succeeding Business Day at
such Place of Payment with the same force and effect as if made on the Interest
Payment Date, Redemption Date, at the Stated Maturity, or on the date for
payment of Defaulted Interest, provided that no interest shall accrue for the
period from and after such Interest Payment Date, Redemption Date, Stated
Maturity or date for the payment of Defaulted Interest, as the case may be, to
the date of payment.

     

    SECTION
1.14.   Indenture
and Securities Solely Corporate Obligations.

     

    No
recourse for the payment of the principal of (or premium, if any) or interest on
any Security, or for any claim based thereon or otherwise in respect thereof,
and no recourse under or upon any obligation, covenant or agreement of the
Company in this Indenture or in any supplemental indenture, or in any Security,
or because of the creation of any indebtedness represented thereby, shall be had
against any incorporator, stockholder, officer or director, as such, past,
present or future, of the Company or of any successor corporation, either
directly or through the Company or any successor corporation, whether by virtue
of any constitution, statute or rule of law, or by the enforcement of any
assessment or penalty or otherwise; it being expressly understood that all such
liability is hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this Indenture and the issuance of the
Securities.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
1.15.   Consent
of Holders of Securities in a Foreign Currency or Euros.

     

    Unless
otherwise specified in a certificate delivered pursuant to Section 301 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, currency or currency unit other than Dollars, 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 the stated Foreign Currency or Euro principal amount of such
Outstanding Securities at the Market Exchange Rate on the record date for the
purpose of taking such action. If the appropriate 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 Euros, the rate of exchange
as published in Journal, as of the most recent available date, or quotations or,
in the case of Euros, 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 Euros, in Luxembourg, or such other quotations or, in the case of Euros,
rates of exchange as the Trustee, upon consultation with the Company, shall deem
appropriate. All decisions and determinations of the Trustee regarding the
Market Exchange Rate or any alternative determination provided for in the
preceding paragraph shall be in its sole discretion and shall, in the absence of
manifest error, be conclusive for all purposes and irrevocably binding upon the
Company and all Holders.

     

    SECTION
1.16.   Payment
Currency.

     

    If the
principal of and/or interest on (or premium, if any, on) any Securities is
payable in a Foreign Currency or Euros and such Foreign Currency or Euros is not
available for payment due to the imposition of exchange controls or other
circumstances beyond the control of the Company, then the Company shall be
entitled to satisfy its obligations to Holders under this Indenture by making
such payment in Dollars on the basis of the Market Exchange Rate for such
Foreign Currency or Euros on the latest date for which such rate was established
on or before the date on which payment is due. Any payment made under this
Section in Dollars where the required payment is in a Foreign Currency or Euros
shall not constitute an Event of Default.

     

    ARTICLE
TWO.                                           

     

    SECURITY
FORMS

     

    SECTION
2.01.   Forms
Generally.

     

    The
Securities of each series shall be in substantially the form as shall be
established by or pursuant to a Board Resolution or in one or more indentures
supplemental hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this
Indenture, and may have such letters, numbers or other marks of identification
and such legends or endorsements placed thereon as may be required to comply
with the rules of any securities exchange or as may, consistently herewith, be
determined by the officers executing such Securities, as evidenced by their
execution of the Securities. If the form of Securities of any series is
established by action taken pursuant to a Board Resolution, an appropriate
Officers’ Certificate setting forth such form together with a copy of the Board
Resolution shall be delivered to the Trustee at or prior to the delivery of the
Company Order contemplated by Section 303 for the authentication and
delivery of such Securities.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
definitive Securities shall be printed, typed, lithographed or engraved or
produced by any combination of these methods or may be produced in any other
manner permitted by the rules of any securities exchange on which the Securities
may be listed, all as determined by the officers executing such Securities, as
evidenced by their execution of such Securities.

     

    SECTION
2.02.   Form
of Trustee’s Certificate of Authentication.

     

    The
Trustee’s certificate of authentication shall be in substantially the form set
forth below:

     

    This is
one of the Securities of the series designated herein issued under the
within-mentioned Indenture.

     

    [                   
       ], as Trustee

     

    By: _____________________          

     

    Authorized Officer

     

     

    ARTICLE
THREE.                                           

     

    THE
SECURITIES

     

    SECTION
3.01.   Amount;
Issuable in Series.

     

    The
aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture may not exceed $[
______________ ].

     

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

     

    (1) the title
of the Securities of the series (which shall distinguish the Securities of the
series from the Securities of all other series) and the form of the Securities
of the series;

     

    (2) 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 304,
305, 306, 906 or 1107);

     

    (3) the date
or dates on which the principal of (and premium, if any, on) the Securities of
the series is payable, or the manner in which such dates are
determined;

     

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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (5) the rate
or rates at which the Securities of the series shall bear interest, if any, 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 on which such interest, if any, shall commence, the date
or dates from which any such interest shall accrue, or the manner in which such
dates are determined, the Interest Payment Dates on which any such interest
shall be payable, the Regular Record Dates, if any, for the payment of interest
on any Interest Payment Date and the rate or rates of interest, if any, payable
on overdue installments of interest on or principal of (or premium, if any, on)
the Securities of the series, and whether the interest rate may be reset upon
certain designated events and, in the case of Floating Rate Securities, the
notice, if any, to Holders regarding the determination of interest and the
manner of giving such notice, and the extent to which, or the manner in which,
any interest payable on any Global Security on an Interest Payment Date will be
paid or calculated if other than in the manner provided in Section 307 or
Section 310 if other than calculated on the basis of a 360-day year of
twelve 30-day months;

     

    (6) if other
than the Trustee, the identity of the Security Registrar and, if other than as
specified in Section 1002, the place or places where the principal of (and
premium, if any) and interest, if any, on Securities of the series shall be
payable, or the method of such payment, if by wire transfer, mail or other
means;

     

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

     

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

     

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

     

    (10) if other
than the principal amount thereof, the portion of the principal amount of
Securities of the series which shall be payable upon declaration of acceleration
of the Maturity thereof pursuant to Section 502;

     

    (11) additional
covenants of the Company, if any, for the benefit of the Holders of Securities
of such series;

     

    (12) if the
provisions of Section 401(4) relating to satisfaction and discharge of
Securities more than one year prior to their Stated Maturity or redemption shall
apply to Securities of the series, a statement of such fact;

     

    (13) if other
than Dollars, the coin or currency in which the Securities of that series are
denominated (including, but not limited to any Foreign Currency or Euros) if
payments of principal of, or interest or premium, 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;

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (14) if the
amount of payments of principal (and premium, if any) or interest, if any, on
the Securities of the series may be determined with reference to an index based
on a currency or currencies or by reference to a commodity, commodity index,
stock exchange index or financial index, the manner in which such amounts shall
be determined;

     

    (15) provisions,
if any, for the defeasance of Securities of the series;

     

    (16) the date
as of which any Global Security representing any Outstanding Debt Securities of
the series shall be dated if other than the date of original issuance of the
first Security of the series to be issued;

     

    (17) whether
the Securities of the series shall be issued in whole or in part in the form of
one or more Global Securities and, in such case, the Depositary for such Global
Security or Securities;

     

    (18) the
provisions, if any, relating to any collateral provided for the Securities of
the series;

     

    (19) 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 502;

     

    (20) the terms
and conditions, if any, for conversion of the Securities into or exchange of the
Securities for shares of common stock or preferred stock of the Company that
apply to Securities of the series;

     

    (21) the
right, if any, to extend the maturity of the Securities of the series and the
duration of such extension;

     

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

     

    (23) any other
terms, conditions, rights and preferences (or limitations on such rights and
preferences) relating to the Securities of such series.

     

    All
Securities of any one series shall be substantially identical except as to
denomination and the rate or rates of interest, if any, the date or dates from
which interest shall accrue and maturity and except as may otherwise be provided
in or pursuant to such Board Resolution and set forth in such Officers’
Certificate or in any such indenture supplemental hereto.

     

    If any of
the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by
the Secretary or an Assistant Secretary of the Company and delivered to the
Trustee at or prior to the delivery of the Officers’ Certificate setting forth
the terms of the series.

     

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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
3.02.   Denominations.

     

    The
Securities of each series shall be issuable in registered form without coupons
in such denominations as shall be specified as contemplated by Section 301.
In the absence of any such provisions with respect to the Securities of any
series, the Securities of such series shall be issuable in denominations of
$1,000 and any integral multiple thereof.

     

    SECTION
3.03.   Execution,
Authentication, Delivery and Dating.

     

    The
Securities shall be executed on behalf of the Company by any two of its Chairman
of the Board, its President, any Vice President, its Treasurer or its Secretary,
under its corporate seal reproduced thereon. The signature of any of these
officers on the Securities may be manual or facsimile.

     

    Securities
bearing the manual or facsimile signatures of individuals who were at any time
the proper officers of the Company shall bind the Company, notwithstanding that
such individuals or any of them have ceased to hold such offices prior to the
authentication and delivery of such Securities or did not hold such offices at
the date of such Securities.

     

    At any
time and from time to time after the execution and delivery of this Indenture,
the Company may deliver to the Trustee or an Authenticating Agent for
authentication Securities of any series executed by the Company, together with a
Company Order for the authentication and delivery of such Securities, and the
Trustee or such Authenticating Agent in accordance with the Company Order shall
authenticate and deliver such Securities. If all the Securities of any series
are not to be issued at one time, and if the Board Resolution, Officers’
Certificate or supplemental indenture establishing such series shall so permit,
such Company Order may set forth procedures acceptable to the Trustee for the
issuance of such Securities and the determination of the terms of particular
Securities of such series such as interest rate, maturity date, date of issuance
and date from which interest shall accrue. If the form or terms of the
Securities of the series have been established in or pursuant to one or more
Board Resolutions as permitted by Sections 201 and 301, in authenticating
such Securities, and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall receive, and
(subject to Section 601) shall be fully protected in relying upon, an
Opinion of Counsel stating,

     

    (a) if the
form of such Securities has been established by or pursuant to Board Resolution
as permitted by Section 201, that such form has been established in
conformity with the provisions of this Indenture; and

     

    (b) if the
terms of such Securities have been established by or pursuant to Board
Resolution as permitted by Section 301, that such terms have been
established in conformity with the provisions of this Indenture.

     

    If all
the Securities of any series are not to be issued at one time, it shall not be
necessary to deliver an Opinion of Counsel at the time of issuance of each
Security, but such Opinion of Counsel, with appropriate modifications, may
instead be delivered at or prior to the time of issuance of the first Security
of such series.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
Trustee or any Authenticating Agent shall have the right to authenticate and
deliver any of such Securities if it, being advised by counsel, determines that
such action may not lawfully be taken, or if it, its board of directors,
trustees, executive committee, or a trust committee of directors or trustees
and/or vice presidents shall determine in good faith that such action would
expose it to personal liability to existing Holders or if the issue of such
Securities pursuant to this Indenture will affect the Trustee’s own rights,
duties or immunities under the Securities and this Indenture or otherwise in a
manner which is not reasonably acceptable to the Trustee.

     

    Each
Security shall be dated the date of its authentication.

     

    No
Security shall be entitled to any benefit under this Indenture or be valid or
obligatory for any purpose unless there appears on such Security a certificate
of authentication substantially in the form provided for herein executed by the
Trustee or an Authenticating Agent by manual signature, and such certificate
upon any Security shall be conclusive evidence, and the only evidence, that such
Security has been duly authenticated and delivered hereunder and is entitled to
the benefits of this Indenture.

     

    SECTION
3.04.   Temporary
Securities.

     

    Pending
the preparation of definitive Securities of any series, the Company may execute,
and upon Company Order the Trustee or an Authenticating Agent shall authenticate
and deliver, temporary Securities which are printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denomination,
substantially of the tenor of the definitive Securities in lieu of which they
are issued and with such appropriate insertions, omissions, substitutions and
other variations as the officers executing such Securities may determine, as
evidenced by their execution of such Securities.

     

    Until so
exchanged the temporary Securities of any series shall in all respects be
entitled to the same benefits under this Indenture as definitive Securities of
such series.

     

    SECTION
3.05.   Registration,
Registration of Transfer and Exchange.

     

    With
respect to each series of Securities, the Company shall cause to be kept at one
of the offices or agencies maintained pursuant to Section 1002 a register
(the register maintained in such office and in any other office or agency
established by the Company in a Place of Payment being herein sometimes
collectively referred to as the “Security Register”) in which, subject to such
reasonable regulations as it may prescribe, the Company shall provide for the
registration of Securities of that series and of transfers of Securities of that
series. Pursuant to Section 301, the Company shall appoint, with respect to
Securities of each series, a “Security Registrar” for the purpose of registering
such Securities and transfers and exchanges of such Securities as herein
provided. In the event the Trustee shall not be Security Registrar, it shall
have the right to examine the Security Register at all reasonable
times.

     

    Upon
surrender for registration of transfer of any Security of any series at the
designated office or agency in a Place of Payment for that series, the Company
shall execute, and the Trustee or an Authenticating Agent shall authenticate and
deliver, in the name of the designated transferee or transferees, one or more
new Securities of the same series, of any authorized denominations and of a like
tenor, aggregate principal amount and Stated Maturity.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    At the
option of the Holder, Securities of any series (except Global Securities) may be
exchanged for other Securities of the same series, of any authorized
denominations and of a like tenor, aggregate principal amount and Stated
Maturity, upon surrender of the Securities to be exchanged at such office or
agency and upon payment, if the Company shall so require, of the charges
hereinafter provided. Whenever any Securities are so surrendered for exchange,
the Company shall execute, and the Trustee or an Authenticating Agent shall
authenticate and deliver, the Securities which the Holder making the exchange is
entitled to receive.

     

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

     

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

     

    No
service charge shall be made for any registration of transfer or exchange of
Securities, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in connection with any
registration of transfer or exchange of Securities, other than exchanges
pursuant to Section 304, 906 or 1107 not involving any
transfer.

     

    The
Company shall not be required (i) to issue, register the transfer of or
exchange Securities of any series during a period beginning at the opening of
business 15 days before the day of selection for redemption of Securities
of that series selected for redemption under Section 1103 and ending at the
close of business on the day of the mailing of notice of redemption, or (ii) to
register the transfer of or exchange any Security so selected for redemption in
whole or in part, except the unredeemed portion of any Security being redeemed
in part.

     

    SECTION
3.06.   Mutilated,
Destroyed, Lost and Stolen Securities.

     

    If there
shall be delivered to the Company and the Trustee (i) a mutilated Security
or evidence to their satisfaction of the destruction, loss or theft of any
Security and (ii) such security or indemnity bond as may be determined in
the reasonable judgment of the Company or the Trustee, as the case may be, to
protect the Company, the Trustee and any agent of either of them from any loss
which any of them may suffer if a Security is replaced, 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
or an Authenticating Agent shall authenticate and deliver, in exchange for or in
lieu of any such mutilated, destroyed, lost or stolen Security, a new Security
of the same series and of like tenor, principal amount and Stated Maturity 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.

     

    SECTION
3.07.   Payment
of Interest; Interest Rights Preserved; Optional Interest Reset.

     

    (a) Except as
otherwise specified with respect to a series of Securities in accordance with
the provisions of Section 301, interest on any Security which is payable,
and is punctually paid or duly provided for, on any Interest Payment Date shall
be paid to the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest.

     

    Any
interest on any Security of any series which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the registered
Holder on the relevant Regular Record Date by virtue of having been such Holder,
and such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in Clause (1) or (2) below:

     

    (1) The
Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest, which shall be fixed in the following
manner. The Company shall notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on each Security of such series and the
date of the proposed payment, and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to be
paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this Clause provided.
Thereupon the Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest which shall be not more than 15 days and not less than
10 days prior to the date of the proposed payment and not less than
10 days after the receipt by the Trustee of the notice of the proposed
payment. The Trustee shall promptly notify the Company of such Special Record
Date and, in the name and at the expense of the Company, shall cause notice of
the proposed payment of such Defaulted Interest and the Special Record Date
therefor to be mailed, first-class postage prepaid, to each Holder of Securities
of such series at his address as it appears in the Security Register, not less
than l0 days prior to such Special Record Date. Notice of the proposed
payment of such Defaulted Interest and the Special Record Date therefor having
been so mailed, such Defaulted Interest shall be paid to the Persons in whose
names the Securities of such series (or their respective Predecessor Securities)
are registered at the close of business on such Special Record Date and shall no
longer be payable pursuant to the following Clause (2).

     

    (2) The
Company may make payment of any Defaulted Interest on the Securities of any
series in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may be listed, and upon such notice
as may be required by such exchange, if, after notice given by the Company to
the Trustee of the proposed payment pursuant to this Clause, such manner of
payment shall be deemed practicable by the Trustee.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

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

     

    (b) The
provisions of this Section 307(b) may be made applicable to any series of
Securities pursuant to Section 301 (with such modifications, additional or
substitutions as may be specified pursuant to Section 301). The interest
rate on any Security of such series may be reset by the Company on the date or
dates specified on the face of such Security (each an “Optional Reset Date”).
The Company may exercise such option with respect to a Security by notifying the
Trustee of all of the relevant information relating to such exercise at least 50
but not more than 60 days prior to an Optional Reset Date, the Trustee
shall transmit, in the manner provided for in Section 106, to the Holder of any
such Security a notice (the “Reset Notice”) indicating whether the Company has
elected to reset the interest rate, and if so (i) such new interest rate
and (ii) the provisions, if any, for redemption during the period from such
Optional Reset Date to the next Optional Reset Date or if there is no such next
Optional Reset Date, to the Stated Maturity Date of such Security (each such
period a “Subsequent Interest Period”), including the date or dates on which or
the period or periods during which and the price or prices at which such
redemption may occur during the Subsequent Interest Period.

     

    Notwithstanding
the foregoing, not later than 20 days prior to the Optional Reset Date, the
Company may, at its option, revoke the interest rate provided for in the Reset
Notice and establish a higher interest rate for the Subsequent Interest Period
by causing the Trustee to transmit, in the manner provided for in
Section 106, notice of such higher interest rate to the Holder of such
Security. Such notice shall be irrevocable. All Securities with respect to which
the interest rate is reset on an Optional Reset Date will bear such higher
interest rate.

     

    The
Holder of any such Security will have the option to elect repayment by the
Company of the principal of such Security on each Optional Reset Date at a price
equal to the principal amount thereof plus interest accrued to such Optional
Reset Date. In order to obtain repayment on an Optional Reset Date, the Holder
must follow the procedures set forth in Article Thirteen for repayment at
the option of Holders, as such apply to such Security, except that the period
for delivery or notification to the Trustee shall be at least 25 but not more
than 35 days prior to such Optional Reset Date and except that, if the
holder has tendered any Security for repayment pursuant to the Reset Notice, the
Holder may, by written notice to the Trustee, revoke such tender or repayment
until the close of business on the tenth day before such Optional Reset
Date.

     

    Subject
to the foregoing provisions of this Section and Section 305, each Security
delivered under this Indenture upon registration of transfer of or in exchange
for or in lieu of any other Security shall carry the rights to interest accrued
and unpaid, and to accrue, which were carried by such other
Security.

     

    SECTION
3.08.   Persons
Deemed Owners.

     

    Prior to
due presentment of a Security for registration of transfer, the Company, the
Trustee, any Paying Agent, any Authenticating Agent and any other agent of the
Company or the Trustee may treat the Person in whose name such Security is
registered as the owner of such Security for the purpose of receiving payment of
principal of (and premium, if any) and (subject to Section 307) interest,
if any, on such Security and for all other purposes whatsoever, whether or not
such Security be overdue, and neither the Company, the Trustee, any Paying
Agent, any Authenticating Agent nor any other agent of the Company or the
Trustee shall be affected by notice to the contrary.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    None of
the Company, the Trustee, any Paying Agent or the Security Registrar will have
any responsibility or liability for any aspect of the records relating to or
payments made on account of beneficial ownership interests in a Global Security
or for maintaining, supervising or reviewing any records relating to such
beneficial ownership interests. Notwithstanding the foregoing, with respect to
any Global Security, nothing herein shall prevent the Company, the Trustee, or
any agent of the Company or the Trustee, from giving effect to any written
certification, proxy or other authorization furnished by any Depositary, as a
Holder, with respect to such Global Security or impair, as between such
Depositary and owners of beneficial interests in such Global Security, the
operation of customary practices governing the exercise of the rights of such
Depositary (or its nominee) as Holder of such Global Security.

     

    SECTION
3.09.   Cancellation.

     

    All
Securities surrendered for payment, redemption, registration of transfer or
exchange or for credit against any sinking fund payment shall, if surrendered to
any Person other than the Trustee, be delivered to the Trustee and shall be
promptly cancelled by it. The Company may at any time deliver to the Trustee for
cancellation any Securities previously authenticated and delivered hereunder
which the Company may have acquired in any manner whatsoever, and all Securities
so delivered shall be promptly cancelled by the Trustee. No Securities shall be
authenticated in lieu of or in exchange for any Securities cancelled as provided
in this Section, except as expressly permitted by this Indenture. All cancelled
Securities shall be destroyed by the Trustee and the Trustee shall deliver a
certificate of such destruction to the Company, unless the Company by Company
Order shall direct that such cancelled Securities be returned to
it.

     

    SECTION
3.10.   Computation
of Interest.

     

    Except as
otherwise specified as contemplated by Section 301 for Securities of any
series, interest on the Securities of each series shall be computed on the basis
of a 360-day year of twelve 30-day months.

     

    SECTION
3.11.   Global
Securities.

     

    If the
Company shall establish pursuant to Section 301 that the Securities of a
series are to be issued in whole or in part in the form of one or more Global
Securities, then the Company shall execute and the Trustee shall, in accordance
with Section 303 and the Company Order with respect to such series,
authenticate and deliver one or more Global Securities in temporary or permanent
form that (i) shall represent and shall be denominated in an amount equal
to the aggregate principal amount of the outstanding Securities of such series
to be represented by one or more Global Securities, (ii) shall be
registered in the name of the Depositary for such Global Security or Securities
or the nominee of such depositary, (iii) shall be delivered by the Trustee
to such Depositary or pursuant to such Depositary’s instruction, and
(iv) shall bear a legend substantially to the following effect: “This
Security is a Global Security within the meaning of the Indenture hereinafter
referred to, and is registered in the name of the Depository or a nominee of the
Depository. This Security is exchangeable for Securities registered in the name
of a Person other than the Depository or its nominee only in the limited
circumstances described in the Indenture, and may 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
successor Depositary.” The Trustee shall deal with the Depositary and its
participants as representatives of the Beneficial Owners of the Global
Securities for purposes of exercising the rights of the Holders hereunder and
the rights of the Beneficial Owners of the Global Securities shall be limited to
those established by law and agreements between such Beneficial Owners and the
Depositary and its participants. Beneficial Owners shall not be entitled to
certificates for Global Securities as to which they are the Beneficial
Owners.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     Requests
and directions from, and votes of, such representatives shall not be deemed to
be inconsistent if they are made with respect to different Beneficial
Owners.

     

    Notwithstanding
any other provision of this Section or Section 305, unless and until it is
exchanged in whole or in part for Securities in definitive form, a Global
Security representing all or a portion of the Securities of a series may not be
transferred except as a whole by the Depositary for such series to a nominee of
such Depositary, by a nominee of such Depositary to such Depositary or another
nominee of such Depositary or by such Depositary or any such nominee to a
successor Depositary for such series or a nominee of such successor depositary.
The Beneficial Owner’s ownership of Securities shall be recorded on the records
of a participant of the Depositary that maintains such Beneficial Owner’s
account for such purpose and the participant’s record ownership of such
Securities shall be recorded on the records of the Depositary.

     

    If at any
time the Depositary for the Securities of a series notifies the Company that it
is unwilling or unable to continue as Depositary for the Securities of such
series or if at any time the Depositary for Securities of a series ceases to be
a clearing agency registered under the Securities Exchange Act of 1934, as
amended, or other applicable statute or regulation, the Company shall appoint a
successor Depositary with respect to the Securities of such series. If a
successor Depositary for the Securities of such series is not appointed by the
Company within 90 days after the Company receives written notice or becomes
aware of such condition, the Company will execute, and the Trustee, upon receipt
of a Company Order for the authentication and delivery of definitive Securities
of such series, will authenticate and deliver, Securities of such series, with
like tenor and terms, in definitive form in an aggregate principal amount equal
to the principal amount of the Global Security or Securities representing such
series in exchange for such Global Security or Securities.

     

    The
Company may at any time and in its sole discretion determine that the Securities
of any series issued in the form of one or more Global Securities shall no
longer be represented by such Global Security or Securities. In such event, the
Company will execute, and the Trustee, upon receipt of a Company Order for the
authentication and delivery of definitive Securities of such series, will
authenticate and deliver, Securities of such series, with like tenor and terms,
in definitive form and in an aggregate principal amount equal to the principal
amount of the Global Security or Securities representing such series in exchange
for such Global Security or Securities.

     

    If
specified by the Company pursuant to Section 301 with respect to Securities
of a series, the Depositary for such series of Securities may surrender a Global
Security for such series of Securities in exchange in whole or in part for
Securities of such series in definitive form on such terms as are acceptable to
the Company and such Depositary. Thereupon, the Company shall execute and the
Trustee shall authenticate and deliver, without charge,

     

    (i) to
each Person specified by the Depositary a new Security or Securities of the same
series of like tenor and terms, of any authorized denomination as requested by
such Person in aggregate principal amount equal to and in exchange for such
Person’s beneficial interest in the Global Security; and

     

    (ii) to
the Depositary a new Global Security in a denomination equal to the difference,
if any, between the principal amount of the surrendered Global Security and the
aggregate principal amount of Securities delivered to Holders
thereof.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Upon the
exchange of a Global Security for Securities in definitive form, such Global
Security shall be cancelled by the Trustee. Securities issued in exchange for a
Global Security pursuant to this Section shall be registered in such names and
in such authorized denominations as the Depositary for such Global Security,
pursuant to instructions from its direct or indirect participants or otherwise,
shall instruct the Trustee. The Trustee shall deliver such Securities to the
persons in whose names such Securities are so registered.

     

    The
Depository, 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 this
Indenture.

     

    Notwithstanding
the other provisions of this Indenture, unless otherwise specified as
contemplated by Section 301, payment of the principal of, and interest and
premium, if any, on, any Global Security shall be made to the Depository or its
nominee in its capacity as the Holder thereof. Further, the Company, the Trustee
and any Authentication Agent shall treat a Person as the Holder of such
principal amount of outstanding Securities of any series represented by a Global
Security as shall be specified in a written statement of the Depository (which
may be in the form of a participants’ list for such series) with respect to such
Global Security, for purposes of obtaining any consents, declarations, waivers
or directions required to be given by the Holders pursuant to this Indenture,
provided, that until the Trustee is so provided with a written statement, it may
treat the Depository or any other Person in whose name a Global Security is
registered as the owner of such Global Security for all purposes, and none of
the Company, the Trustee or any agent of the Company or the Trustee shall be
affected by notice to the contrary.

     

    SECTION
3.12.   Optional
Extension of Maturity.

     

    The
provisions of this Section may be made applicable to any series of Securities
pursuant to Section 301 (with such modifications, additions or
substitutions as may be specified pursuant to Section 301). The Stated
Maturity of any Security of such series may be extended at the option of the
Company for the period or periods specified on the face of such Security (each
an “Extension Period”) up to but not beyond the date (the “Final Maturity”) set
forth on the face of such Security. The Company may exercise such option with
respect to any Security by notifying the Trustee of such exercise at least 50
but not more than 60 days prior to the Stated Maturity of such Security in
effect prior to the exercise of such (the “Original Stated Maturity”). If the
Company exercises such option, the Trustee shall transmit, in the manner
provided for in Section 106, to the Holder of such Security not later than
40 days prior to the Original Stated Maturity a notice (the “Extension
Notice”) indicating (i) the election of the Company to extend the Maturity,
(ii) the new Stated Maturity Date, (iii) the interest rate applicable
to the Extension Period and (iv) the provisions, if any, for redemption
during such Extension Period. Upon the Trustee’s transmittal of the Extension
Notice, the Stated Maturity Date of such Security shall be extended
automatically and, except as modified by the Extension Notice and as described
in the next paragraph, such Security will have the same terms as prior to the
transmittal of such Notice.

     

    Notwithstanding
the foregoing, not later than 20 days before the Original Stated Maturity
of such Security, the Company may, at its option, revoke the interest rate
provided for in the Extension Notice and establish a higher interest rate for
the Extension Period by causing the Trustee to transmit, in the manner provided
for in Section 106, notice of such higher interest rate to the Holder of
such Security. Such notice shall be irrevocable. All Securities with respect to
which the Stated Maturity is extended will bear such higher interest
rate.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    If the
Company extends the Maturity of any Security, the Holder will have the option to
elect repayment of such Security by the Company on the Original Stated Maturity
at a price equal to the outstanding principal amount thereof, plus interest
accrued to such date. In order to obtain repayment on the Original Stated
Maturity once the Company has extended the Maturity thereof, the Holder of an
Outstanding Security must follow the procedures set forth in
Article Thirteen for repayment at the option of Holders, as such applies to
the Securities of such series, except that the period for delivery or
notification to the Trustee shall be at least 25 but not more than 35 days prior
to the Original Stated Maturity and except that, if the Holder has tendered any
Security for repayment pursuant to an Extension Notice, the Holder may by
written notice to the Trustee revoke such tender for repayment until the close
of business on the tenth day before the Original Stated Maturity unless the
Trustee has previously delivered repayment of such Security to such
Holder.

     

    SECTION
3.13.   CUSIP
and ISIN Numbers.

     

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

     

    ARTICLE
FOUR.                                           

     

    SATISFACTION
AND DISCHARGE

     

    SECTION
4.01.   Satisfaction
and Discharge of Securities of any Series.

     

    The
Company shall be deemed to have satisfied and discharged the entire indebtedness
on all the Securities of any particular series and the Trustee, upon Company
request and at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of such indebtedness, when

     

    (1) either:

     

    (A)           all
Securities of such series theretofore authenticated and delivered (other than
(i) Securities which have been destroyed, lost or stolen and which have been
replaced or paid as provided in Section 306 and (ii) Securities for
whose payment money has theretofore been deposited in trust or segregated and
held in trust by the Company and thereafter repaid to the Company or discharged
from such trust, as provided in the last paragraph of Section 1003) have
been delivered to the Trustee for cancellation; or

     

    (B)           with
respect to all Outstanding Securities of such series described in (A) above
not theretofore delivered to the Trustee for cancellation,

     

    (i) The
Company has deposited or caused to be deposited with the Trustee as trust funds
in trust an amount sufficient to pay and discharge the entire indebtedness on
all such Outstanding Securities of such series for principal (and premium, if
any) and interest to the Stated Maturity or any Redemption Date as contemplated
by Section 403, as the case may be; or

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (ii) The
Company has deposited or caused to be deposited with the Trustee as obligations
in trust such amount of direct obligations of, or obligations the principal of
and interest on which are fully guaranteed by, the United States of America
(other than obligations subject to prepayment, redemption or call prior to their
stated maturity) as will, together with the predetermined and certain income to
accrue thereon (without consideration of any reinvestment thereof), be
sufficient to pay and discharge when due the entire indebtedness on all such
Outstanding Securities of such series for principal (and premium, if any) and
interest to the Stated Maturity or any Redemption Date as contemplated by
Section 403, as the case may be;

     

    (2) the
Company has paid or caused to be paid all other sums payable with respect to the
Securities of such series;

     

    (3) 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 the entire indebtedness on all Securities
of such series have been complied with; and

     

    (4) if the
entire indebtedness on the Outstanding Securities of such series is to be
satisfied and discharged pursuant to Section 401(l)(B) above, then
(i) the Company shall have specified the applicability (as provided in
Section 301) of this Section 401(4) to the Securities of such series,
(ii) the Company shall have given, not later than the date of such deposit,
notice of such deposit to the Holders of Securities of such series and
(iii) the Trustee shall have received an Opinion of Counsel (which Counsel
shall be recognized tax counsel) stating that, (x) the Company has received
from the Internal Revenue Service a ruling or (y) since the date of this
Indenture, there has been a change in the applicable federal income tax law,
including by means of a Revenue Ruling published by the Internal Revenue
Service, in either case to the effect that, and based thereon such Opinion of
Counsel will confirm that the deposit of funds or obligations and the
satisfaction and discharge of indebtedness on the Securities of such series
pursuant to this Section will not result in recognition by the Holders of
income, gain or loss for federal income tax purposes (other than income, gain or
loss which would have been recognized in like amount and at a like time absent
such deposit, satisfaction and discharge), provided that the Company will be
discharged from the requirements of Article Eight if (i) it has
satisfied all of the requirements for satisfaction and discharge of the
indebtedness on the Outstanding Securities pursuant to Section 401(1)(B)
except for the delivery of the Opinion of Counsel described above, and
(ii) the Trustee shall have received an Opinion of Counsel stating that the
Holders will not recognize income, gain or loss for federal income tax purposes
as a result of the deposit of such funds or obligations and will be subject to
federal tax in the same amounts, in the same manner and at the same times as
would have been the case if such deposit of funds or obligations had not
occurred.

     

    Upon the
satisfaction of the conditions set forth in this Section with respect to all the
Securities of any series, the terms and conditions of such series, including the
terms and conditions with respect thereto set forth in this Indenture, shall no
longer be binding upon, or applicable to, the Company, and the Holders of the
Securities of such series shall look for payment only to the funds or
obligations deposited with the Trustee pursuant to Section 401(l)(B);
provided, however, that, in no event shall the Company be discharged
(a) from any payment obligations in respect of Securities of such series
which are deemed not to be Outstanding under clause (iii) of the definition
thereof if such obligations continue to be valid obligations of the Company
under applicable law, (b) from any obligations under Section 607 or
the last paragraph of Section 1003, and (c) from any obligations under
Section 305 and 306 (except that Securities of such series issued upon
registration of transfer or exchange or in lieu of mutilated, lost, destroyed or
stolen Securities shall not be obligations of the Company), and
Section 701.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
4.02.   Satisfaction
and Discharge of Indenture.

     

    Upon
compliance by the Company with the provisions of Section 401 as to the
satisfaction and discharge of each series of Securities issued hereunder, this
Indenture shall cease to be of any further effect (except as otherwise provided
herein). Upon Company Request (and at the expense of the Company), the Trustee
shall execute proper instruments acknowledging satisfaction and discharge of
this Indenture. In the event there are two or more Trustees hereunder, then the
effectiveness of any such instrument shall be conditioned upon receipt of such
instruments from all Trustees hereunder.

     

    Notwithstanding
the satisfaction and discharge of this Indenture, any obligations of the Company
under Sections 305, 306, 607 and 701 and the last paragraph of
Section 1003, and of the Trustee under Sections 403 and 613 and the
last two paragraphs of Section 1003, shall survive.

     

    SECTION
4.03.   Application
of Trust Money.

     

    Subject
to the provisions of the last two paragraphs of Section 1003, all money and
obligations deposited with the Trustee pursuant to Section 401 shall be
held irrevocably in trust and shall be made under the terms of an escrow trust
agreement in form and substance satisfactory to the Trustee. Such money and
obligations shall be applied by the Trustee, in accordance with the provisions
of the Securities, this Indenture and such escrow trust agreement, to the
payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Persons
entitled thereto, of the principal of (and premium, if any) and interest, if
any, on the Securities for the payment of which such money and obligations have
been deposited with the Trustee (but such money need not be segregated from
other funds except to the extent required by law). If Securities of any series
are to be redeemed prior to their Stated Maturity, whether pursuant to any
optional redemption provisions or in accordance with any mandatory sinking fund
requirement, the Company shall make such arrangements as are satisfactory to the
Trustee for the giving of notice of redemption by the Trustee in the name, and
at the expense, of the Company.

     

    ARTICLE
FIVE.                                           

     

    REMEDIES

     

    SECTION
5.01.   Events
of Default.

     

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

     

    (1) default
in the payment of any interest upon any Security of that series when it becomes
due and payable, and continuance of such default for a period of 30 days;
or

     

    (2) default
in the payment of the principal of (or premium, if any, on) any Security of that
series at its Maturity; or

     

    (3) default
in the deposit of any sinking fund payment, when and as due by the terms of a
Security of that series; or

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (4) default
in the performance, or breach, of any covenant or agreement of the Company in
this Indenture (other than a covenant or agreement a default in whose
performance or whose breach is elsewhere in this Section specifically dealt with
or which has expressly been included in this Indenture solely for the benefit of
series of Securities other than that series), and continuance of such default or
breach for a period of 90 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

     

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

     

    (A) commences
a voluntary case,

     

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

     

    
      	
               
      

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

            

    

     

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

     

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

     

    (A) is
for relief against the Company in an involuntary case;

     

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

     

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

     

    The term
“Bankruptcy Law” means Title 11 of the 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.

     

    (6) any other
Event of Default provided with respect to the Securities of that series pursuant
to Section 301 or in a supplemental indenture.

     

    SECTION
5.02.   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, 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 the Securities of that
series are Original Issue Discount Securities, such portion of the principal
amount as may be specified in the terms of that series) of 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 portion) shall become immediately due and
payable.

     

    Upon
payment of such amount, all obligations of the Company in respect of the payment
of principal of the Securities of such series shall terminate.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

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

     

    (1) the
Company has paid or deposited with the Trustee a sum sufficient to
pay

     

    (A) all
overdue interest, if any, on all Securities of that series,

     

    (B) the
principal of (and premium, if any, on) any Securities of that series which have
become due otherwise than by such declaration of acceleration and interest
thereon at the rate or rates prescribed therefor in such
Securities,

     

    (C) to
the extent that payment of such interest is lawful, interest upon overdue
interest at the rate or rates, if any, prescribed therefor in such Securities,
and

     

    (D) all
sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel;
and

     

    (2) all
Events of Default with respect to Securities of that series, other than the
non-payment of the principal of Securities of that series which have become due
solely by such declaration of acceleration, have been cured, or waived as
provided in Section 513.

     

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

     

    SECTION
5.03.   Collection
of Indebtedness and Suits for Enforcement by Trustee.

     

    The
Company covenants that if:

     

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

     

    (2) default
is made in the payment of the principal of (or premium, if any, on) any Security
of any series at the Maturity thereof, the Company will, upon demand of the
Trustee, pay to it, for the benefit of the Holders of Securities of such series,
the whole amount then due and payable on Securities of such series for principal
(and premium, if any) and interest and, to the extent that payment of such
interest shall be legally enforceable, interest on any overdue principal (and
premium, if any) and on any overdue interest, at the rate or rates, if any,
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 decreed 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 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.

     

    SECTION
5.04.   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 of acceleration 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,

     

    (i) to
file and prove a claim for the whole amount of principal (or with respect to
Original Issue Discount Securities, such portion of the principal amount as may
be specified in the terms of such Securities), and premium, if any 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

     

    (ii) 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 607. 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
5.05.   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
5.06.   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 money on account of principal (or premium, if any) 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 607;

     

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

     

    THIRD:
The balance, if any, to the Company, its successor or assigns or to whoever may
be lawfully entitled to receive the same or as a court of competent jurisdiction
may direct.

     

    SECTION
5.07.   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:

     

    (1) An Event
of Default shall have occurred and be continuing with respect to the Securities
of that series and such Holder shall have previously given written notice
thereof to the Trustee;

     

    (2) 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;

     

    (3) 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;

     

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

     

    (5) no
direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in 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 Holder or to
obtain or to seek to obtain priority or preference over any other Holder or to
enforce any right under this Indenture, except in the manner herein provided and
for the equal and ratable benefit of all Holders of Securities of such
series.

     

    SECTION
5.08.   Unconditional
Right of Holders to Receive Principal, Premium 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 premium, if any) and (subject to Section 307) interest, if any, on
such Security on the Stated Maturity or Maturities expressed in such Security
(or, in the case of redemption, on the Redemption Date) and to institute suit
for the enforcement of any such payment, and such rights shall not be impaired
without the consent of such Holder.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
5.09.   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
5.10.   Rights
and Remedies Cumulative.

     

    Except as
otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 306,
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 prevent the concurrent
assertion or employment of any other appropriate right or remedy.

     

    SECTION
5.11.   Delay
or Omission Not Waiver.

     

    No delay
or omission of the Trustee or of any Holder of any Security 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
5.12.   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:

     

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

     

    (2) the
Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction;

     

    (3) such
direction is not unduly prejudicial to the rights of other
Holders;and

     

    (4) such
direction would not involve the Trustee in personal liability.

     

    SECTION
5.13.   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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (1) in the
payment of the principal of (or premium, if any) or interest, if any (subject to
the provisions of Section 502), on any Security of such series,
or

     

    (2) in
respect of a covenant or provision hereof which under Article Nine cannot
be modified or amended without the consent of the Holder of each Outstanding
Security of such series affected.

     

    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 the
Securities of such series under this Indenture; but no such waiver shall extend
to any subsequent or other default or impair any right consequent
thereon.

     

    SECTION
5.14.   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 at
trial and on appeal, 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 premium, if any) or interest on any Security on or after the
Stated Maturity or Maturities expressed in such Security (or, in the case of
redemption, on or after the Redemption Date).

     

    ARTICLE
SIX.                                

     

    THE
TRUSTEE

     

    SECTION
6.01.   Certain
Duties and Responsibilities.

     

    (a) Except
during the continuance of an Event of Default,

     

    (1) the
Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants or
obligations shall be read into this Indenture against the Trustee;
and

     

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

     

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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

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

     

    (1) this
Subsection shall not be construed to limit the effect of Subsection (a) of
this Section;

     

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

     

    (3) the
Trustee shall not be liable with respect to any action taken, suffered or
omitted to be taken by it in good faith in accordance with the direction of the
Holders of a majority in principal amount of the Outstanding Securities of any
series, as provided in Section 512, 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; and

     

    (4) No
provision of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of
its duties hereunder, 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 or liability is not reasonably assured to
it.

     

    (d) Whether
or not herein expressly so provided, every provision of this Indenture relating
to the conduct of or affecting the liability of or affording protection to the
Trustee shall be subject to the provisions of this Section.

     

    SECTION
6.02.   Notice
of Defaults.

     

    Within
90 days after the occurrence of any default hereunder with respect to the
Securities of any series, the Trustee shall transmit by mail to all Holders of
Securities of such series, as their names and addresses appear in the Security
Register, notice of such default hereunder actually known to a Responsible
Officer of the Trustee, unless such default shall have been cured or waived;
provided, however, that except in the case of a default in the payment of the
principal of (or premium, if any) or interest, if any, on any Security of such
series, in the payment of any sinking fund installment with respect to
Securities of such series or in the payment of the Redemption Price of any
Securities as to which notice of redemption has been given, the Trustee shall be
protected in withholding such notice if and so long as the board of directors,
the executive committee or a trust committee of directors or Responsible
Officers of the Trustee in good faith determines that the withholding of such
notice is in the interest of the Holders of Securities of such series; and
provided, further, that in the case of any default of the character specified in
Section 501(4) with respect to Securities of such series, no such notice to
Holders shall be given until at least 60 days after the occurrence thereof.
For the purpose of this Section, the term “default” means any event which is, or
after notice or lapse of time or both would become, an Event of Default with
respect to Securities of such series.

     

    SECTION
6.03.   Certain
Rights of Trustee.

     

    Subject
to the provisions of Section 601:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

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

     

    (b) any
request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order and any resolution of the Board
of Directors may be sufficiently evidenced by a Board Resolution;

     

    (c) whenever
in the administration of this Indenture the Trustee shall deem it desirable that
a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically
prescribed) may, in the absence of bad faith on its part, rely upon an Officers’
Certificate;

     

    (d) the
Trustee may consult with counsel and the written 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 in good faith
and in reliance thereon;

     

    (e) 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
pursuant to this Indenture, 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;

     

    (f) 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;

     

    (g) the
Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee
shall not be responsible for any misconduct or negligence on the part of any
agent or attorney, including any Authenticating Agent, appointed with due care
by it hereunder;

     

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

     

    (i) the
Trustee shall not be charged with knowledge of any Event of Default with respect
to the Securities of any series for which it is acting as Trustee unless either
(1) a Responsible Officer of the Trustee assigned to the Corporate Trust
Office of the Trustee (or any successor division or department of the Trustee)
shall have actual knowledge of the Event of Default or (2) written notice of
such Event of Default shall have been given to the Trustee by the Company, any
other obligor on such Securities or by any Holder of such
Securities.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
6.04.   Not
Responsible for Recitals or Issuance of Securities.

     

    The
recitals contained herein and in the Securities, except certificates of
authentication, shall be taken as the statements of the Company, and neither the
Trustee nor any Authenticating Agent assumes any responsibility for their
correctness. The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Securities. Neither the Trustee nor any
Authenticating Agent shall be accountable for the use or application by the
Company of Securities or the proceeds thereof.

     

    SECTION
6.05.   May
Hold Securities.

     

    The
Trustee, any Authenticating Agent, any Paying Agent, the Security Registrar or
any other agent of the Company or the Trustee, in their individual or any other
capacity, may become the owner or pledgee of Securities and, subject to
Sections 608 and 612, may otherwise deal with the Company with the same
rights it would have if it were not Trustee, Authenticating Agent, Paying Agent,
Security Registrar or such other agent.

     

    SECTION
6.06.   Money
Held in Trust.

     

    Money
held by the Trustee or any Paying Agent in trust hereunder need not be
segregated from other funds except to the extent required by law. Neither the
Trustee nor any paying Agent shall be subject to any liability for interest on
any money received by it hereunder except as otherwise agreed with the
Company.

     

    SECTION
6.07.   Compensation
and Reimbursement.

     

    The
Company agrees:

     

    (1) to pay to
the Trustee from time to time reasonable compensation for all services rendered
by it hereunder (which compensation shall not be limited by any provision of law
in regard to the compensation of a trustee of an express trust);

     

    (2) except as
otherwise expressly provided herein, to reimburse the Trustee upon its request
for all reasonable expenses, disbursements and advances incurred or made by the
Trustee in accordance with any provision of this Indenture (including the
reasonable compensation and the expenses and disbursements of its agents and
counsel), except any such expense, disbursement or advance as may be
attributable to its negligence or bad faith; and

     

    (3) to
indemnify the Trustee and its agents for, and to hold them harmless against, any
loss, liability or expense incurred without negligence or bad faith on their
part, arising out of or in connection with the acceptance or administration of
the trust or trusts hereunder, including the costs and expenses of defending
themselves against any claim or liability in connection with the exercise or
performance of any of their powers or duties hereunder.

     

    As
security for the performance of the obligations of the Company under this
Section, the Trustee shall have a lien prior to the Securities upon all property
and funds held or collected by the Trustee as such, except funds held in trust
for the payment of principal (or premium, if any) or interest, if any, on
Securities.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
provisions of this Section shall survive the resignation or removal of the
Trustee or the discharge of this Indenture. When the Trustee incurs expenses
after the occurrence of an Event of Default specified in Section 501(5) or
(6) the expenses are intended to constitute expenses of administration
under any Bankruptcy Law.

     

    SECTION
6.08.   Corporate
Trustee Required; Eligibility; Conflicting Interests.

     

    This
Indenture shall always have a Trustee who satisfies the requirements of Trust
Indenture Act Sections 310(a)(1), (2) and (5) in every respect.
The Trustee (or in the case of a Trustee that is a Person included in a bank
holding company system, the related bank holding company) shall have a combined
capital and surplus of at least $100,000,000 as set forth in its most recent
published annual report of condition. The Trustee shall comply with Trust
Indenture Act Section 310(b), including the provision in
Section 310(b)(1). In addition, if the Trustee is a Person included in a
bank holding company system, the Trustee, independently of such bank holding
company, shall meet the capital requirements of Trust Indenture Act
Section 310(a)(2). If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in
the manner and with the effect specified in this Article.

     

    SECTION
6.09.   Resignation
and Removal; Appointment of Successor.

     

    (a) No
resignation or removal of the Trustee and no appointment of a successor Trustee
or Trustees pursuant to this Article shall become effective until the acceptance
of appointment by the successor Trustee or Trustees in accordance with the
applicable requirements of Section 610.

     

    (b) The
Trustee may resign at any time with respect to the Securities of one or more
series by notifying the Company in writing at least 90 days in advance of
such resignation. If the instrument of acceptance by a successor Trustee
required by Section 610 shall not have been delivered to the Trustee within
60 days after the giving of such notice of resignation, the resigning
Trustee may petition any court of competent jurisdiction for the appointment of
a successor Trustee with respect to the Securities of such series.

     

    (c) The
Trustee may be removed at any time with respect to the Securities of any series
by Act of the Holders of a majority in principal amount of the Outstanding
Securities of such series, delivered to the Trustee and to the
Company.

     

    (d) If at any
time the Trustee shall fail to comply with Section 608 after written
request therefor by the Company or by any Holder who has been a bona fide Holder
of a Security for at least six months, the Company by a Board Resolution may
remove the Trustee with respect to the Securities of such series or, subject to
Section 514, any Holder who has been a bona fide Holder of a Security of
such series for at least six months may, on behalf of himself and all others
similarly situated, petition any court of competent jurisdiction for the removal
of the Trustee with respect to the Securities of such series and the appointment
of a successor Trustee.

     

    (e) If at any
time:

     

    (1) the
Trustee shall cease to be eligible under Section 608 and shall fail to
resign after written request therefor by the Company or by any Holder who has
been a bona fide Holder of a Security for at least six months, or

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

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

     

    then, in
any such case, (i) the Company by a Board Resolution may remove the Trustee
with respect to all Securities, or (ii) subject to Section 514, any
holder who has been a bona fide Holder of a Security for at least six months
may, on behalf of himself and all others similarly situated, petition any court
of competent jurisdiction for the removal of the Trustee with respect to all
Securities and the appointment of a successor Trustee or Trustees.

     

    (f) If the
Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the
Securities of one or more series, the Company, by a Board Resolution, shall
promptly appoint a successor Trustee or Trustees with respect to the Securities
of that or those series (it being understood that any such successor Trustee may
be appointed with respect to the Securities of one or more or all of such series
and that at any time there shall be only one Trustee with respect to the
Securities of any particular series) and shall comply with the applicable
requirements of Section 610. If, within one year after such resignation,
removal or incapability, or the occurrence of such vacancy, a successor Trustee
with respect to the Securities of any series shall be appointed by Act of the
Holders of a majority in principal amount of the Outstanding Securities of such
series delivered to the Company and the retiring Trustee, the successor Trustee
so appointed shall, forthwith upon its acceptance of such appointment in
accordance with the applicable requirements of Section 610, become the
successor Trustee with respect to the Securities of such series and to that
extent supersede the successor Trustee appointed by the Company with respect to
such series. If no successor Trustee with respect to the Securities of any
series shall have been so appointed by the Company or the Holders of the
Securities of such series and accepted appointment in the manner required by
Section 610, any Holder who has been a bona fide holder of a Security of
such series for at least six months may, on behalf of himself and all others
similarly situated, petition any court of competent jurisdiction for the
appointment of a successor Trustee with respect to the Securities of such
series.

     

    (g) The
Company shall give notice of each resignation and each removal of the Trustee
with respect to the Securities of any series and each appointment of a successor
Trustee with respect to the Securities of any series by mailing written notice
of such event by first-class mail, postage prepaid, to all Holders of Securities
of such series as their names and addresses appear in the Security Register.
Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust
Office.

     

    SECTION
6.10.   Acceptance
of Appointment by Successor.

     

    (a) In case
of the appointment hereunder of a successor Trustee with respect to all series
of Securities, every such successor Trustee so appointed shall execute,
acknowledge and deliver to the Company and to the retiring Trustee an instrument
accepting such appointment, and thereupon the resignation or removal of the
retiring Trustee shall become effective and such successor Trustee, without any
further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the retiring Trustee; but, on the request of the
Company or the successor Trustee, such retiring Trustee shall, upon payment of
its charges due pursuant to Section 607, execute and deliver an instrument
transferring to such successor Trustee all the rights, powers and trusts of the
retiring Trustee and shall duly assign, transfer and deliver to such successor
Trustee all property and money held by such retiring Trustee hereunder subject
to the lien provided in Section 607.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (b) In case
of the appointment hereunder of a successor Trustee with respect to the
Securities of one or more (but not all) series, the Company, the retiring
Trustee and each successor Trustee with respect to the Securities of one or more
series shall execute and deliver an indenture supplemental hereto wherein each
successor Trustee shall accept such appointment and which (1) shall contain such
provisions as shall be necessary or desirable to transfer and confirm to, and to
vest in, each successor Trustee all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which
the appointment of such successor Trustee relates, (2) if the retiring
Trustee is not retiring with respect to all series of Securities, shall contain
such provisions as shall be deemed necessary or desirable to confirm that all
the rights, powers, trusts and duties of the retiring Trustee with respect to
the Securities or that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and (3) shall
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the

     

    administration
of the trusts hereunder by more than one Trustee, it being understood that
nothing herein or in such supplemental indenture shall constitute such Trustees
co-trustees of the same trust and that each such Trustee shall be trustee of a
trust or trusts hereunder separate and apart from any trust or trusts hereunder
administered by any other such Trustee; and upon the execution and delivery of
such supplemental indenture the resignation or removal of the retiring Trustee
shall become effective to the extent provided therein and each such successor
Trustee, without any further act, deed or conveyance, shall become vested with
all the rights, powers, trusts and duties of the retiring Trustee with respect
to the Securities of that or those series to which the appointment of such
successor Trustee relates; but, on request of the Company or any successor
Trustee, such retiring trustee shall duly assign, transfer and deliver to such
successor Trustee all property and money held by such retiring Trustee hereunder
with respect to the Securities of that or these series to which the appointment
of such successor Trustee relates.

     

    (c) Upon
request of any such successor Trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such
successor Trustee all such rights, powers and trusts referred to in paragraph
(a) or (b) of this Section, as the case may be.

     

    (d) No
successor Trustee shall accept its appointment unless at the time of such
acceptance such successor Trustee shall be qualified and eligible under this
Article.

     

    SECTION
6.11.   Merger,
Conversion, Consolidation or Succession to Business.

     

    Any
corporation into which the Trustee may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Trustee shall be a party, or any corporation
succeeding to all or substantially all the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article,
without the execution or filing of any paper or any further act on the part of
any of the parties hereto. In case any Securities shall have been authenticated,
but not delivered, by the Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such
authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee had itself authenticated such
Securities.

     

    SECTION
6.12.   Preferential
Collection of Claims Against Company.

     

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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
6.13.   Appointment
of Authenticating Agent.

     

    At any
time when any of the Securities remain Outstanding the Trustee may appoint an
Authenticating Agent or Agents with respect to one or more series of Securities
which shall be authorized to act on behalf of the Trustee to authenticate and
deliver Securities of such series with respect to which it has been so
designated, and Securities so authenticated and delivered shall be entitled to
the benefits of this Indenture and shall be valid and obligatory for all
purposes as if authenticated by the Trustee hereunder.

     

    Wherever
reference is made in this Indenture to the authentication and delivery of
Securities by the Trustee or the Trustee’s certificate of authentication, such
reference shall be deemed to include authentication and delivery on behalf of
the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Company and shall at all times
be a bank or trust company or corporation organized and doing business and in
good standing under the laws of the United States, any State thereof or the
District of Columbia, authorized under such laws to act as Authenticating Agent,
having a combined capital and surplus of not less than $100,000,000 and subject
to supervision or examination by Federal, State or District of Columbia
authority. If such Authenticating Agent publishes reports of condition at least
annually, pursuant to law or to the requirements of said supervising or
examining authority, then for the purposes of this Section, the combined capital
and surplus of such Authenticating Agent shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so
published. If at any time an Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, such Authenticating Agent shall
resign immediately in the manner and with the effect specified in this
Section.

     

    Any
corporation into which an Authenticating Agent may be merged or converted or
with which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which such Authenticating Agent shall be a party,
or any corporation succeeding to the corporate agency or corporate trust
business of an Authenticating Agent, shall continue to be an Authenticating
Agent, provided such corporation shall be otherwise eligible under this Section,
without the execution or filing of any paper or any further act on the part of
the Trustee or the Authenticating Agent.

     

    An
Authenticating Agent may resign with respect to one or more series of Securities
at any time by giving written notice thereof to the Trustee and to the Company.
The Trustee may at any time terminate the agency of an Authenticating Agent with
respect to one or more series of Securities by giving written notice thereof to
such Authenticating Agent and to the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in  accordance with
the provisions of this Section, the Trustee may appoint a successor
Authenticating Agent which shall be acceptable to the Company and shall mail
written notice of such appointment by first-class mail, postage prepaid, to all
holders of Securities of the series with respect to which such Authenticating
Agent will serve, as their names and addresses appear in the Security Register.
Any successor Authenticating Agent upon acceptance of its appointment hereunder
shall become vested with all the rights, powers and duties of its predecessor
hereunder, with like effect as if originally named as an Authenticating Agent.
No successor Authenticating Agent shall be appointed unless eligible under the
provisions of this Section.

     

    The
Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section. The provisions of
Sections 104, 111, 603, 604 and 605 shall be applicable to any
Authenticating Agent.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Pursuant
to each appointment made under this Section, the Securities of each series
covered by such appointment may have endorsed thereon, in lieu of the Trustee’s
certificate of authentication, an alternate certificate of authentication in
substantially the following form:

     

    This is
one of the Securities, of the series designated herein, issued under the
within-mentioned Indenture.

     

    
      	 
      	
              [                                      ]

               

            
	 
      	
              By:  

            	 
      
	 
      	 
      	
              as
      Authenticating Agent, 

            

    

    

     

    
      	 
      	
              By:  

            	 
      
	 
      	 
      	
              Authorized
      Officer 

            

    

    

     

    ARTICLE
SEVEN.                                           

     

    HOLDERS’
LISTS AND REPORTS BY TRUSTEE AND COMPANY

     

    SECTION
7.01.   Holder
Lists.

     

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

     

    SECTION
7.02.   Communications
by Holders with Other Holders.

     

    Holders
of any series may communicate pursuant to Trust Indenture Act Section 312(b)
with other Holders of that series or any other series with respect to their
rights under this Indenture or the Securities of that series or any other
series. The Company, the Trustee, the Securities Registrar and any other Person
shall have the protection of Trust Indenture Act
Section 312(c).

     

    SECTION
7.03.   Reports
by Trustee.

     

    (a) If and to
the extent required by the Trust Indenture Act, within 60 days after May 1
of each year commencing with the May 1 following the date of this Indenture, if
and so long as any Securities are Outstanding hereunder, the Trustee shall
transmit by mail to all Holders, as their names and addresses appear in the
Security Register, a brief report dated as of such May 1 that complies with
Trust Indenture Act Section 313(a). The Trustee shall also comply with
Trust Indenture Act Sections 313(b) and 313(c).

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (b) A copy of
any such report required to be sent under Section 703(a) shall, at the time of
such transmission to Holders, be filed by the Trustee, with each securities
exchange upon which any Securities of that series are listed, with the
Commission and with the Company. The Company will notify the Trustee when any
Securities of any series are listed on any securities exchange or any delisting
thereof, and the Trustee shall comply with Trust Indenture Act
Section 313(d).

     

    SECTION
7.04.   Reports
by Company.

     

    The
Company will deliver to the Trustee within 15 days after the filing of the
same with the Commission, copies of the quarterly and annual reports and of the
information, documents and other reports, if any, which the Company is required
to file with the Commission pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended. Notwithstanding that the Company
may not be subject to the reporting requirements of Section 13 or 15(d) of
the Securities Exchange Act of 1934, as amended, the Company will file with the
Commission, to the extent permitted, and provide the Trustee with, such
supplementary and periodic information, documents and reports which may be
required under Section 13 of the Securities Exchange Act of 1934, as
amended. The  Company will also comply with the other provisions of
Trust Indenture Act Section 314(a). All information, documents and reports
to be provided pursuant to this Section will be deemed to be so delivered to the
Trustee when the Company files such information, documents and reports with the
Commission through the Commission’s EDGAR database.

     

    ARTICLE
EIGHT.                                           

     

    SUCCESSOR
CORPORATION

     

    SECTION
8.01.   Limitation
on Consolidation, Merger and Sale of Assets.

     

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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

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

     

    (c) For the
avoidance of doubt, the foregoing provisions shall not be deemed to require the
assumption of Securities of a series if the terms thereof established in
accordance with Section 301 provide for their redemption or purchase in the
event of a transaction described in this Section 801.

     

    SECTION
8.02.   Successor
Person Substituted.

     

    Upon any
consolidation, merger or transfer of all or substantially all of the assets of
the Company in accordance with Section 801, the successor corporation
formed by such consolidation, or into which the Company is merged or to which
such transfer is made, shall succeed to, and be substituted for, and may
exercise every right and power of, the Company under this Indenture with the
same effect as if such successor corporation had been named as the Company
herein, and thereafter (except with respect to any such transfer which is a
lease) the predecessor corporation shall be relieved of all obligations and
covenants under this Indenture and the Securities.

     

    ARTICLE
NINE.                                           

     

    SUPPLEMENTAL
INDENTURES

     

    SECTION
9.01.   Supplemental
Indentures Without Consent of Holders.

     

    Without
the consent of any Holder, the Company, when authorized by a Board Resolution,
and the Trustee, at any time and from time to time, may enter into one or more
indentures supplemental hereto, in form satisfactory to the Trustee, for any of
the following purposes:

     

    (1) to
evidence the succession of another corporation to the Company and the assumption
by any such successor of the covenants of the Company herein and in the
Securities; or

     

    (2) to add to
the covenants of the Company for the benefit of the Holders of all or any series
of Securities (and if such covenants are to be for the benefit of less than all
series of Securities, stating that such covenants are expressly being included
solely for the benefit of such series) or to surrender any right or power herein
conferred upon the Company; provided, however, that in respect of any such
additional covenant, such supplemental indenture may provide for a particular
period of grace after default in the performance of such covenant (which period
may be shorter or longer than that allowed in the case of other defaults) or may
provide for an immediate enforcement upon such default or may limit the remedies
available to the Trustee upon such default; or

     

    (3) to add
any additional Events of Default; or

     

    (4) to add to
or change or eliminate any of the provisions of this Indenture to extent as
shall be necessary to permit or facilitate the issuance of Securities in bearer
form, registrable or not registrable as to principal, and with or without
interest coupons; or

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (5) to change
or eliminate any of the provisions of this Indenture, provided that any such
change or elimination shall become effective only when there is no Security
Outstanding of any series created prior to the execution of such supplemental
indenture which is entitled to the benefit of such provision; or

     

    (6) to secure
the Securities; or

     

    (7) to
establish the form or terms of Securities of any series as permitted by
Sections 201 and 301; or

     

    (8) 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, pursuant to the requirements of Section 610(b); or

     

    (9) to cure
any ambiguity, to correct or supplement any provision herein which may be
inconsistent with any other provision herein, or to make any other provisions
with respect to matters or questions arising under this Indenture, provided such
action shall not adversely affect the interests of the Holders of Securities of
any series in any material respect.

     

    SECTION
9.02.   Supplemental
Indentures with Consent of Holders.

     

    With the
consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series (each such series voting as a separate
class) affected by such supplemental indenture, by Act of said Holders delivered
to the Company and the Trustee, the Company, when authorized by a Board
Resolution, and the Trustee may enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to or changing in
any manner or eliminating any of the provisions of this Indenture or of
modifying in any manner the rights of the Holders of Securities of such series
under this Indenture; provided, however, that no such supplemental indenture
shall, without the consent of the Holder of each Outstanding Security affected
thereby,

     

    (1) change
the Stated Maturity of the principal of, or any installment of principal of or
interest on, any Security, or reduce the principal amount thereof or the rate of
interest thereon or any premium payable upon the redemption thereof, or modify
the manner of determination of the rate of interest thereon so as to affect
adversely the interest of such Holder or reduce the amount of the principal of
an Original Issue Discount Security that would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to
Section 502, or change any Place of Payment where, or the coin or currency
in which, any Security or any premium or the interest thereon is payable, or
impair the right to institute suit for the enforcement of any such payment on or
after the Stated Maturity thereof (or, in the case of redemption, on or after
the Redemption Date), or

     

    (2) reduce
the percentage in principal amount of the Outstanding Securities of any series,
the consent of whose Holders is required for any such supplemental indenture, or
the consent of whose Holders is required for any waiver (of compliance with
certain provisions of this Indenture or certain defaults hereunder and their
consequences) provided for in this Indenture, or

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (3) modify
any of the provisions of this Section, Section 513 or Section 1006,
except to increase any such percentage or to provide that certain other
provisions of this Indenture cannot be modified or waived without the consent of
the Holder of each Outstanding Security affected thereby; provided, however,
that this clause shall not be deemed to require the consent of any Holder with
respect to changes in the references to the “Trustee” and concomitant changes in
this Section and Section 1006, or the deletion of this proviso, in
accordance with the requirements of Sections 610(b) and 901(8).

     

    A
supplemental indenture which changes or eliminates any covenant or other
provision of this Indenture which has expressly been included solely for the
benefit of one or more particular series of Securities, or which modifies the
rights of the Holders of Securities of such series with respect to such covenant
or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series.

     

    The
Trustee may in its discretion determine whether or not any Securities would be
affected by any supplemental indenture and any such determination shall he
conclusive upon the Holders of all Securities of any series. The Trustee shall
not be liable for any such determination made in good faith.

     

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

     

    SECTION
9.03.   Execution
of Supplemental Indentures.

     

    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 provided, and (subject to
Section 601) 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 and that such supplemental indenture, when
executed and delivered by the Company, will constitute a valid and binding
obligation of the Company in accordance with its terms. The Trustee may, but
shall not be obligated to, enter into any such supplemental indenture which
affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.

     

    SECTION
9.04.   Effect
of Supplemental Indentures.

     

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

     

    SECTION
9.05.   Conformity
with Trust Indenture Act.

     

    Every
supplemental indenture executed pursuant to this Article shall conform to the
requirements of the Trust Indenture Act of 1939, as amended, in effect on such
date.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
9.06.   Reference
in Securities to Supplemental Indentures.

     

    Securities
of any series, affected by a supplemental indenture, authenticated and delivered
after the execution of any supplemental indenture pursuant to this Article may,
and shall if required by the Trustee, bear a notation in form approved by the
Trustee as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities of any series so modified as to
conform, in the opinion of the Trustee and the Board of Directors, to any such
supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee or any Authenticating Agent in
exchange for Outstanding Securities of such series.

     

    ARTICLE
TEN.                                

     

    COVENANTS

     

    SECTION
10.01.   Payment
of Principal, Premium and Interest.

     

    The
Company covenants and agrees that it will duly and punctually pay the principal
of (and premium, if any) and interest, if any, on the Securities of each series
in accordance with the terms of the Securities of such series and this
Indenture.

     

    SECTION
10.02.   Maintenance
of Office or Agency.

     

    The
Company will cause to be maintained in each Place of Payment for any series of
Securities an office or agency where Securities of that series may be presented
or surrendered for payment, where Securities of that series may be surrendered
for registration of transfer or exchange and where notices and demands to or
upon the Company in respect of the Securities of that series and this Indenture
may be served. The Company will give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency. With respect
to the Securities of any series such office or agency and each place of Payment
shall be as specified as contemplated in Section 301. In the absence of any
such provisions with respect to the Securities of any series (i) the place
of payment for such securities shall be the Borough of Manhattan, City of New
York, New York, and (ii) such office or agency in such Place of Payment
shall be the Corporate Trust Office of the Trustee therein. If at any time the
Company shall fail to maintain any such required office or agency or shall fail
to furnish the Trustee with the 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 other offices or
agencies (in or outside the Borough of Manhattan, City of New York, New York)
where the Securities of one or more series may be presented or surrendered for
any or all such purposes 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 obligation to maintain an office or agency in each
place of Payment for Securities of any series for such purposes. The Company
will give prompt written notice to the Trustee of any such designation or
rescission and of any change in the location of any such office or
agency.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
10.03.   Money
for Securities Payments to Be Held in Trust.

     

    If the
Company shall at any time act as its own Paying Agent with respect to any series
of Securities, it will, on or before each due date of the principal of (and
premium, if any) or interest, if any, on any of the Securities of that series,
segregate and hold in trust for the benefit of the persons entitled thereto a
sum sufficient to pay the principal (and premium, if any) or interest, if any,
so becoming due until such sums shall be paid to such persons or otherwise
disposed of as herein provided and will promptly notify the Trustee of its
action or failure so to act.

     

    Whenever
the Company shall have one or more Paying Agents for any series of Securities,
it will, on or before each due date of the principal of (and premium, if any) or
interest, if any, on any Securities of that series, deposit with a Paying Agent
a sum sufficient to pay the principal (and premium, if any) or interest, if any,
so becoming due, such sum to be held in trust for the benefit of the persons
entitled to such principal, premium or interest, and (unless such Paying Agent
is the Trustee) the Company will promptly notify the Trustee of its action or
failure so to act.

     

    The
Company will cause each Paying Agent other than the Trustee for any series of
Securities to execute and deliver to the Trustee an instrument in which such
paying Agent shall agree with the Trustee, subject to the provisions of this
Section, that such Paying Agent will:

     

    (1) hold all
sums held by it as agent for the payment of the principal of (and premium, if
any) or interest, if any, on Securities of that series in trust for the benefit
of the Persons entitled thereto until such sums shall be paid to such Persons or
otherwise disposed of as herein provided;

     

    (2) give the
Trustee written notice within three Business Days of any default by the Company
(or any other obligor upon the Securities of that series) in the making of any
payment of principal (and premium, if any) or interest, if any, on the
Securities of that series; and

     

    (3) at any
time during the continuance of any such default, upon the written request of the
Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying
Agent.

     

    The
Company may at any time, for the purpose of obtaining the satisfaction and
discharge of this Indenture or for any other purpose, pay, or by Company Order
direct any Paying Agent to pay, to the Trustee all sums held in trust by the
Company or such Paying Agent, such sums to be held by the Trustee upon the same
trusts as those upon which such sums were held by the Company or such Paying
Agent; and, upon such payment by any paying Agent to the Trustee, such paying
agent shall be released from all further liability with respect to such money.
Upon the satisfaction and discharge of the indebtedness in respect of all
Outstanding Securities of any series all sums then held by any Paying Agent
(other than the Trustee) in respect thereof shall, upon demand of the Company,
be repaid to it or paid to the Trustee, and thereupon such Paying Agent shall be
released from all further liability with respect to such money.

     

    The
Trustee and any Paying Agent shall promptly pay to the Company upon Company
Request any money or securities held by them at any time in excess of amounts
necessary to satisfy amounts payable to the Holders, the Trustee and the Paying
Agent.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    Any money
deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of (and premium, if any) or interest, if
any, on any Security of any series and remaining unclaimed for two years after
such principal (and premium, if any) or interest, if any, has become due and
payable shall, unless otherwise required by mandatory provisions of applicable
escheat or abandoned or unclaimed property law, be paid to the Company on
Company Request, or (if then held by the Company) shall be discharged from such
trust; and the Holder of such Security shall, unless otherwise required by
mandatory provisions of applicable escheat or abandoned or unclaimed property
law, thereafter, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease; provided, however, that the Trustee or such
Paying Agent, before being required to make any such repayment, may at the
expense of the Company cause to be published once, in a newspaper published in
the English language, customarily published on each Business Day and of general
circulation in each Place of Payment with respect to Securities of such series,
notice that such money remains unclaimed and that, after a date specified
therein, which shall not be less than 30 days from the date of such publication,
any unclaimed balance of such money then remaining will, unless otherwise
required by mandatory provisions of applicable escheat or abandoned or unclaimed
property law, be repaid to the Company.

     

    SECTION
10.04.   Corporate
Existence.

     

    Subject
to Article Eight, the Company will do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate
existence.

     

    SECTION
10.05.   Statement
as to Compliance.

     

    The
Company will deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company ending after the date hereof, an Officers’
Certificate which complies with Trust Indenture Act Section 314(a)(4) and
need not comply with Section 102, stating as to each signer thereof
that:

     

    (1) a review
of the activities of the Company during such year and of performance under this
Indenture has been made under his supervision, and

     

    (2) as of the
end of such year and at the date of the certificate to the best of his
knowledge, based on such review, (a) the Company is not in default in the
fulfillment of any of its obligations under this Indenture, or specifying each
such default known to him and the nature and status thereof and (b) no
event has occurred and is continuing which is or after notice or lapse of time
or both would become an Event of Default, or, if such an event has occurred and
is continuing, specifying each such event known to him and the nature and status
thereof.

     

    SECTION
10.06.   Waiver
of Certain Covenants.

     

    The
Company may omit in any particular instance to comply with any covenant or
condition set forth in Sections 1002 to 1005, each inclusive, or a
supplemental indenture with respect to the Securities of any series if before
the time for such compliance the Holders of at least a majority in principal
amount of the Outstanding Securities of such series shall, by Act of such
Holders, either waive such compliance in such instance or generally waive
compliance with such covenant or condition, but no such waiver shall extend to
or affect such covenant or condition except to the extent so expressly waived,
and, until such waiver shall become effective, the obligations of the Company
and the duties of the Trustee with respect to any such covenant or condition
shall remain in full force and effect.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    ARTICLE
ELEVEN.                                           

     

    REDEMPTION
OF SECURITIES

     

    SECTION
11.01.   Applicability
of Article.

     

    Securities
of any series which are redeemable before their Stated Maturity shall be
redeemable in accordance with their terms and (except as otherwise specified as
contemplated by Section 301 for Securities of any series) in accordance
with this Article.

     

    SECTION
11.02.   Election
to Redeem; Notice to Trustee.

     

    The
election of the Company to redeem any Securities shall be evidenced by a Board
Resolution. In case of any redemption at the election of the Company of less
than all the Securities of any series, the Company shall, at least 45 days
(unless a shorter notice shall be satisfactory to the Trustee) prior to the
Redemption Date fixed by the Company (unless a shorter notice, but not less than
30 days, shall be satisfactory to the Trustee), notify the Trustee in
writing of such Redemption Date and of the principal amount of Securities of
such series to be redeemed. In the case of any redemption of Securities prior to
the expiration of any restriction on such redemption provided in the terms of
such Securities or elsewhere in this Indenture, the Company shall furnish the
Trustee with an Officers’ Certificate evidencing compliance with such
restriction. Any such notice may be canceled at any time prior to notice of such
redemption being mailed to any Holder, and shall thereby be void and of no
effect.

     

    SECTION
11.03.   Selection
by Trustee of Securities to be Redeemed.

     

    If less
than all the Securities of any series are to be redeemed, the particular
Securities to be redeemed shall be selected by the Trustee not more than
45 days prior to the Redemption Date, from the Outstanding Securities of
such series not previously called for redemption, by such method as the Trustee
shall deem fair and appropriate and which may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for
Securities of that series or any integral multiple thereof) of the principal
amount of Securities of such series of a denomination larger than the minimum
authorized denomination for Securities of that series. In any case where
Securities of such series are registered in the same name, the Trustee in its
discretion may treat the aggregate principal amount so registered as if it were
represented by one Security of such series. If the Securities of any series to
be redeemed consist of Securities having different Stated Maturities or
different rates of interest (or methods of computing interest), then the Company
may, by written notice to the Trustee, direct that the Securities of such series
to be redeemed shall be selected from among groups of such Securities having
specified Stated Maturities or rates of interest (or methods or computing
interest) and the Trustee shall thereafter select the particular Securities to
be redeemed in the manner set forth above from among the groups of such
Securities so specified.

     

    The
Trustee shall promptly notify the Company in writing of the Securities selected
for redemption and, in the case of any Securities selected for partial
redemption, the principal amount thereof to be redeemed.

     

    For all
purposes of this Indenture, unless the context otherwise requires, all
provisions relating to the redemption of Securities shall relate, in the case of
any Security redeemed or to be redeemed only in part, to the portion of the
principal amount of such Security which has been or is to be
redeemed.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
11.04.   Notice
of Redemption.

     

    Notice of
redemption shall be given by first-class mail, postage prepaid, mailed not less
than 30 nor more than 60 days prior to the Redemption Date, to each Holder
of Securities to be redeemed, at his address appearing in the Security
Register.

     

    All
notices of redemption shall state:

     

    (1) the
Redemption Date,

     

    (2) the
Redemption Price,

     

    (3) if less
than all the Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the principal amounts)
of the particular Securities to be redeemed,

     

    (4) in case
any Security is to be redeemed in part only, the notice which relates to such
Security shall state that on and after the Redemption Date, upon surrender of
such Security, the Holder will receive, without charge, a new Security or
Securities of authorized denominations for the principal amount thereof
remaining unredeemed,

     

    (5) that on
the Redemption Date, the Redemption Price will become due and payable upon each
such Security to be redeemed and, if applicable, that interest thereon will
cease to accrue on and after said date unless the Company defaults in making the
redemption payment,

     

    (6) the place
or places where such Securities are to be surrendered for payment of the
Redemption Price,

     

    (7) that the
redemption is for a sinking fund, if such is the case,

     

    (8) the CUSIP
number, if any, printed on the Securities being redeemed, and

     

    (9) that no
representation is made as to the correctness or accuracy of the CUSIP number, if
any, listed in such notice or printed on the Securities.

     

    Notice of
redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company’s request, by the Trustee in the name
and at the expense of the Company. In the case of redemptions by the Company of
Global Securities, the Company shall, at least 30 days prior to the
Redemption Date, notify the Depositary (with a copy to the Trustee) of such
redemption.

     

    SECTION
11.05.   Deposit
of Redemption Price.

     

    On or
prior to any Redemption Date, the Company shall deposit with the Trustee or with
a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate
and hold in trust as provided in Section 1003) an amount of money
sufficient to pay the Redemption Price of, and (except if the Redemption Date
shall be an Interest Payment Date) accrued interest on, all the Securities which
are to be redeemed on that date.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
11.06.   Securities
Payable on Redemption Date.

     

    Notice of
redemption having been given as aforesaid, the Securities so to be redeemed
shall, on the Redemption Date, become due and payable at the Redemption Price
therein specified, and from and after such date (unless the Company shall
default in the payment of the Redemption Price and accrued interest) such
Securities shall cease to bear interest. Upon surrender of any such Security for
redemption in accordance with said notice, such Security shall be paid by the
Company at the Redemption Price, together with accrued interest to the
Redemption Date; provided, however, that installments of interest whose Stated
Maturity is on or prior to the Redemption Date shall be payable to the Holders
of such Securities, or one or more Predecessor Securities, registered as such at
the close of business on the relevant Regular Record Date according to their
terms and the provisions of Section 307.

     

    If any
Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest
from the Redemption Date at the rate prescribed therefor in the
Security.

     

    SECTION
11.07.   Securities
Redeemed in Part.

     

    Any
security which is to be redeemed only in part shall be surrendered at a Place of
Payment therefor (with, if the Company or the Trustee so requires, due
endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or his attorney
duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service
charge, a new Security or Securities of the same series, of any authorized
denomination as requested by such Holder, in aggregate principal amount equal to
and in exchange for the unredeemed portion of the principal of the Security so
surrendered; provided, however, that the Depositary need not surrender Global
Securities for a partial redemption and may be authorized to make a notation on
such Global Security of such partial redemption. In the case of a partial
redemption of the Global Securities, the Depositary, and in turn, the
participants in the Depositary, shall have the responsibility to select any
Securities to be redeemed by random lot.

     

    ARTICLE
TWELVE.                                           

     

    SINKING
FUNDS

     

    SECTION
12.01.   Applicability
of Article.

     

    The
provisions of this Article shall be applicable to any sinking fund for the
retirement of Securities of a series except as otherwise specified as
contemplated by Section 301 for Securities of such series.

     

    The
minimum amount of any sinking fund payment provided for by the terms of
Securities of any series is herein referred to as a “mandatory sinking fund
payment”, and any payment in excess of such minimum amount provided for by the
terms of Securities of any 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 1202. Each sinking fund payment shall be applied to the
redemption of Securities of any series as provided for by the terms of
Securities of such series.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    SECTION
12.02.   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 required to be made pursuant to the
terms of such Securities as provided for by the terms of such series
(1) deliver Outstanding Securities of such series (other than any
previously called for redemption) and (2) apply as a credit Securities of
such series which have been redeemed either at the election of the Company
pursuant to the terms of such series of Securities or through the application of
permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case, provided that such Securities have not been previously
so credited. Such Securities shall be received and credited for such purpose by
the Trustee at the Redemption 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.

     

    SECTION
12.03.   Redemption
of Securities for Sinking Fund.

     

    Not less
than 60 days 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 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 Securities of that series pursuant to
Section 1202, and the amount of any optional sinking fund payment to be
added to the next ensuing sinking fund payment, and will also deliver to the
Trustee any Securities to be so delivered. If such Officers’ Certificate shall
specify an optional amount to be added in cash to the next ensuing mandatory
sinking fund payment, the Company shall thereupon be obligated to pay the amount
therein specified. Not less than 30 days 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 1103 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 1104. Such notice having
been duly given, the redemption of such Securities shall be made upon the terms
and in the manner stated in Sections 1106 and 1107.

     

    ARTICLE
THIRTEEN.                                                      

     

    REPAYMENT
AT THE OPTION OF HOLDERS

     

    SECTION
13.01.   Applicability
of Article.

     

    Securities
of any series which are repayable at the option of the Holders thereof before
their Stated Maturity shall be repaid in accordance with the terms of the
Securities of such series. The repayment of any principal amount of Securities
pursuant to such option of the Holder to require repayment of Securities before
their Stated Maturity, for purposes of Section 309, shall not operate as a
payment, redemption or satisfaction of the indebtedness represented by such
Securities unless and until the Company, at its option, shall deliver or
surrender the same to the Trustee with a directive that such Securities be
cancelled. Notwithstanding anything to the contrary contained in this
Section 1301, in connection with any repayment of Securities, the Company
may arrange for the purchase of any Securities by an agreement with one or more
investment bankers or other purchasers to purchase such Securities by paying to
the Holders of such Securities on or before the close of business on the
repayment date an amount not less than the repayment price payable by the
Company on repayment of such Securities, and the obligation of the Company to
pay the repayment price of such Securities shall be satisfied and discharged to
the extent such payment is so paid by such purchasers to the respective Holders
thereof.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    * *
*

     

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

     

    IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly
executed, and their respective corporate seals to be hereunto affixed and
attested, all as of the day and year first above written.

     

    

    ULURU
Inc.

     

    

     

    (SEAL)
                                                                            By:                                                                  

    Name:  _______________________

    Title:  ________________________

    Attest:
___________________________

     

    By: _____________________________                                                       

     

    

    [                                   ]

     

    (SEAL)
                                                                            By:                                                                  

    Name:  _______________________

    Title:  ________________________

    Attest:
___________________________

     

    By: _____________________________

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