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Exhibit 4.1.1

        INDENTURE,
dated as of June 16, 2004, between Celestica Inc., a corporation duly organized and existing under the laws of the Province of Ontario, Canada (herein called the
"Company"), having its principal office at 1150 Eglinton Avenue East, Toronto, Ontario, Canada, M3C 1H7, and JPMorgan Chase Bank, a New York corporation, as trustee hereunder (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 secured or unsecured debentures,
notes or other evidences of indebtedness (herein collectively called the "Securities" and individually called a "Security"), unlimited as to principal amount, to bear such rates of interest, to mature
at such times, and to be issued in one or more series which may be convertible into or exchangeable for any securities of any person (including the Company) as hereinafter provided. 

        This
Indenture is subject to the provisions of the Trust Indenture Act (as hereinafter defined) that are required to be part of this Indenture and shall, to the extent applicable, be
governed by such provisions. 

        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 the series thereof, as follows: 

 
 

ARTICLE 1
  
    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 or any other Article have the meanings assigned to them in this Article or such other 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, and the
terms "cash transaction" and "self-liquidating paper," as used in Trust Indenture Act Section 311, shall have the meanings assigned to them in the rules of the Commission adopted under the
Trust Indenture Act; 

 

        (3)   all
accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles in Canada, 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 at the date of such computation; 

        (4)   the
words "consolidation, amalgamation or merger" as used herein shall be deemed in each case to include any statutory arrangement (including a business combination),
binding share exchange or substantially similar extraordinary transaction; and the words "consolidated, amalgamated or merged" and similar phrases have meanings correlative to the foregoing; 

        (5)   the
words "include," "included" and "including" as used herein shall be deemed in each case to be followed by the phrase "without limitation"; and 

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

        "Act,"
when used with respect to any Holder, has the meaning specified in Section 1.04. 

        "Additional
Amounts" has the meaning specified in Section 10.05. 

        "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 or cause the direction of 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 or Persons appointed by the Trustee to act on behalf of the Trustee pursuant to Section 6.13 to authenticate Securities of one or
more series. 

        "Authorized
Newspaper" means a newspaper, in the English language or in an official language of the country of publication, customarily published on each Business Day, whether or not
published on Saturdays, Sundays or holidays, and of general circulation in each place in connection with which the term is used or in the financial community of each such place. Where successive
publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers in the same city meeting the foregoing requirements and in
each case on any Business Day. 

        "Bearer
Security" means any Security except a Registered Security. 

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        "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" means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banks and trust companies in the City of New York or Toronto are authorized
or obligated by law, regulation or executive order to close or to remain closed. 

        "Canadian
Taxes" has the meaning specified in Section 10.05. 

        "Clearstream
International" means Clearstream Banking Luxembourg, a socíeté anonyme, or its successor. 

        "Code"
means the United States Internal Revenue Code of 1986, as amended. 

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

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

        "Company
Request" or "Company Order" means a written request or order signed in the name of the Company by any two of the following officers of the Company: Chairman of the Board, Vice
Chairman of the Board, Chief Executive Officer, President, an Executive Vice President, a Senior Vice President, a Vice President, the principal financial officer, Treasurer, an Assistant Treasurer,
the Controller, the Secretary or an Assistant Secretary, and delivered to the Trustee. 

        "Conversion
Date" has the meaning specified in Section 3.12(d). 

        "Conversion
Event" means the cessation of use of (i) a Foreign Currency both by the government of the country which issued such Foreign Currency and by a central bank or other
public institution of or within the international banking community for the settlement of transactions, or (ii) any Currency unit (or composite Currency) for the purposes for which it was
established. 

        "Corporate
Trust Office" means the corporate trust office of the Trustee of a series of Securities at which at any particular time its corporate trust business shall be administered
(which at the date of this Indenture is located at JPMorgan Chase Bank, 4 New York Plaza, 15th Floor, New York, New York 10004, Attention: Institutional Trust Services), except
that with respect to presentation of Securities of a series for payment of such series or for registration of transfer or exchange, such term shall mean the office or agency of the Trustee of such
series designated for such purpose (which at the date of this Indenture is located at JPMorgan Chase Bank, GIS Unit Trust Window, 4 New York Plaza, 1st Floor,
New York, New York 10004). 

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        "corporation"
includes corporations, associations, joint-stock companies, companies, limited liability companies and business trusts. 

        "coupon"
means any interest coupon appertaining to a Bearer Security. 

        "covenant
defeasance" has the meaning specified in Section 14.03. 

        "Currency"
means any currency or currencies, composite currency or currency unit or currency units issued by the government of one or more countries or by any recognized confederation or
association of such governments. 

        "Debt"
means notes, bonds, debentures or other similar evidences of indebtedness for money borrowed. 

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

        "Defaulted
Interest" has the meaning specified in Section 3.07. 

        "defeasance"
has the meaning specified in Section 14.02. 

        "Depositary"
means, with respect to Securities of any series issuable or issued in whole or in part in the form of one or more Global Securities, a clearing agency registered under the
Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 3.05 or, with respect to Securities of any series offered and sold to persons outside of the
United States, Euroclear or Clearstream International. 

        "Dollar"
or "$" means a dollar or other equivalent unit in such coin or currency of the United States as at the time shall be legal tender for the payment of public and private
debts. 

        "Dollar
Equivalent of the Currency Unit" has the meaning specified in Section 3.12(g). 

        "Dollar
Equivalent of the Foreign Currency" has the meaning specified in Section 3.12(f). 

        "Election
Date" has the meaning specified in Section 3.12(h). 

        "Euroclear"
means, as applicable, Euroclear Bank, Euroclear France, Euroclear Nederland or CRESTCo, or their successors as operators of the Euroclear system. 

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        "Event
of Default" has the meaning specified in Section 5.01. 

        "Exchange
Act" means the United States Securities Exchange Act of 1934, as amended. 

        "Exchange
Rate Agent" means, with respect to Securities of or within any series, unless otherwise specified with respect to any Securities pursuant to Section 3.01, a
New York Clearing House bank, designated pursuant to Section 3.01 or Section 3.13. 

        "Exchange
Rate Officers' Certificate" means a tested telex or a certificate setting forth (i) the applicable Market Exchange Rate and (ii) the Dollar or Foreign Currency
amounts of principal (and premium, if any) and interest, if any (on an aggregate basis and on the basis of a Security having the lowest denomination principal amount determined in accordance with
Section 3.02 in the relevant Currency), payable with respect to a Security of any series on the basis of such Market Exchange Rate, sent (in the case of a telex) or signed (in the case of a
certificate) by the President, any Executive Vice President, Senior Vice President or Vice President, and countersigned by the principal financial officer, the Treasurer or any Assistant Treasurer of
the Company. 

        "Extension
Notice" has the meaning specified in Section 3.08. 

        "Extension
Period" has the meaning specified in Section 3.08. 

        "Federal
Bankruptcy Code" means the Bankruptcy Act of Title 11 of the United States Code, as amended from time to time. 

        "Final
Maturity" has the meaning specified in Section 3.08. 

        "Foreign
Currency" means any Currency other than Currency of the United States. 

        "Global
Security" means any Registered Security registered in the name of the Depositary or a nominee thereof. 

        "Government
Obligations" means, unless otherwise specified with respect to Securities of any series pursuant to Section 3.01, securities which are (i) direct obligations of
the government which issued the Currency in which the principal of or any premium or interest on such Securities of a particular series are payable or (ii) obligations of a Person controlled or
supervised by and acting as an agency or instrumentality of the government which issued the Currency in which the Securities of such series are payable, the payment of which is unconditionally
guaranteed by such government, which, in either case, are full faith and credit obligations of such government payable in such Currency and are not callable or redeemable at the option of the issuer
thereof and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific payment of interest on or principal of
any such Government Obligation held by such custodian for the account of the holder of a depository receipt; provided that (except as required by law) such custodian is not authorized to make any
deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Obligation or the specific payment of interest or
principal of the Government Obligation evidenced by such depository receipt. 

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        "Holder"
means, in the case of a Registered Security, the Person in whose name the Security is registered in the Security Register and, in the case of a Bearer Security, the bearer
thereof and, when used with respect to any coupon, shall mean the bearer thereof. 

        "Indenture"
means this instrument as originally executed and 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 the terms of particular series of Securities established as contemplated by Section 3.01;  provided, however, that, if at any time more than one Person is acting as Trustee under this instrument,
"Indenture" shall mean, with respect to any one or more series of Securities for which such Person is Trustee, 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 the terms of particular series of Securities for which such Person is
Trustee established as contemplated by Section 3.01, exclusive, however, of any provisions or terms which relate solely to other series of Securities for which such Person is not Trustee,
regardless of when such terms or provisions were adopted, and exclusive of any provisions or terms adopted by means of one or more indentures supplemental hereto executed and delivered after such
Person had become such Trustee but to which such Person, as such Trustee, was not a party. 

        "Indexed
Security" means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal face amount thereof at
original issuance. 

        "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 at the rate
prescribed in such Original Issue Discount Security. 

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

        "Judgment
Currency" has the meaning specified in Section 1.14. 

        "Market
Exchange Rate" means, unless otherwise specified with respect to Securities of any series pursuant to Section 3.01, (i) for any conversion involving a Currency unit
on the one hand and Dollars or any Foreign Currency on the other, the exchange rate between the relevant Currency unit and Dollars or such Foreign Currency calculated by the method specified pursuant
to Section 3.01 for the Securities of the relevant series, (ii) for any conversion of Dollars into any Foreign Currency, the noon (New York City time) buying rate for such
Foreign Currency for cable transfers quoted in New York City as certified for customs purposes by the Federal Reserve Bank of New York, and (iii) for any conversion of one Foreign
Currency into Dollars or another Foreign Currency, the spot rate at noon local time in the relevant market at which, in accordance with normal banking procedures, the Dollars or Foreign Currency into
which conversion is being made could be 

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purchased
with the Foreign Currency from which conversion is being made from major banks located in either New York City, Toronto or any other principal market for Dollars or such purchased
Foreign Currency, in each case determined by the Exchange Rate Agent, or, if there is no Exchange Rate Agent, as determined by the Company. Unless otherwise specified with respect to Securities of any
series pursuant to Section 3.01, in the event of the unavailability of any of the exchange rates provided for in the foregoing clauses (i), (ii) and (iii), the Exchange Rate Agent
or, if there is no Exchange Rate, the Company shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New York as of the most recent
available date, or quotations from one or more major banks in New York City, Toronto or another principal market for the Currency in question, or such other quotations as the Exchange Rate
Agent or the Company, as the case may be, shall deem appropriate. Unless otherwise specified by the Exchange Rate Agent, if there is more than one market for dealing in any Currency by reason of
foreign exchange regulations or otherwise, the market to be used in respect of such Currency shall be that upon which a non-resident issuer of securities designated in such Currency would purchase
such Currency in order to make payments in respect of such securities. 

        "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, notice of redemption, notice of option to elect repayment or otherwise. 

        "Officers'
Certificate" means a certificate signed by any two of the following officers of the Company: the Chairman of the Board, a Vice Chairman of the Board, the Chief Executive
Officer, the President, an Executive Vice President, a Senior Vice President, a Vice President, the principal financial officer, Treasurer, an Assistant Treasurer, the Controller, the Secretary or an
Assistant Secretary of the Company, and delivered to the Trustee. 

        "Opinion
of Counsel" means a written opinion of counsel of recognized standing, who may be counsel for the Company, including an employee of the Company, and who shall be acceptable to
the Trustee. 

        "Optional
Reset Date" has the meaning specified in Section 3.07(b). 

        "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 5.02. 

        "Original
Stated Maturity" has the meaning specified in Section 3.08. 

        "Outstanding,"
when used with respect to Securities, and unless otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, means, as of the date
of determination, all Securities theretofore authenticated and delivered under this Indenture and, as applicable, which have not been cancelled, except: 

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

        (ii)   Securities,
or portions thereof, for whose payment or redemption or repayment at the option of the Holder 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 and any coupons appertaining thereto; provided that, if such Securities 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; 

        (iii)  Securities,
except to the extent provided in Sections 14.02 and 14.03, with respect to which the Company has effected defeasance and/or covenant
defeasance as provided in Article 14; and 

        (iv)  Securities
which have been paid pursuant to Section 3.06 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 the
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders for quorum purposes, and for the purpose of
making the calculations required by Trust Indenture Act Section 313, (i) the principal amount of an Original Issue Discount Security that may be counted in making such determination or
calculation and that shall be deemed to be Outstanding for such purpose shall be equal to the amount of principal thereof that would be (or shall have been declared to be) due and payable, at the time
of such determination, upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02, (ii) the principal amount of any Security denominated in a Foreign Currency
that may be counted in making such determination or calculation and that shall be deemed Outstanding for such purpose shall be equal to the Dollar equivalent, determined as of the date such Security
is originally issued by the Company as set forth in an Exchange Rate Officers' Certificate delivered to the Trustee, of the principal amount (or, in the case of an Original Issue Discount Security,
the Dollar equivalent as of such date of original issuance of the amount determined as provided in clause (i) above) of such Security, (iii) the principal amount of any Indexed Security
that may be counted in making such determination or calculation and that shall be deemed Outstanding for such purpose shall be equal to the principal face amount of such Indexed Security at original
issuance, unless otherwise provided with respect to such Security pursuant to Section 3.01, and (iv) 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 making such calculation
or in relying upon any such request, demand, authorization, direction, notice, consent or waiver, or upon any such determination as to the presence of a quorum, 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 such other obligor. 

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        "Paying
Agent" means any Person (including the Company acting as Paying Agent) authorized by the Company to pay the principal of (or premium, if any) or interest, if any, on any
Securities on behalf of the Company. 

        "Person"
means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, estate, unincorporated organization or government or any agency or
political subdivision thereof and any other entity, and includes any successor of such entity. 

        "Place
of Payment" means, when used with respect to the Securities of or within any series, the place or places where the principal of (and premium, if any) and interest, if any, on such
Securities are payable as specified as contemplated by Sections 3.01 and 10.02. 

        "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 3.06 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security or a Security to which a
mutilated, destroyed, lost or stolen coupon appertains shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security or the Security to which the mutilated, destroyed,
lost or stolen coupon appertains, as the case may be. 

        "Redemption
Date," when used with respect to any Security to be redeemed, in whole or in part, 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 fixed for such redemption pursuant to this Indenture. 

        "Registered
Security" means any Security registered in the Security Register. 

        "Regular
Record Date" for the interest payable on any Interest Payment Date on the Registered Securities of any series means the date specified for that purpose as contemplated by
Section 3.01. 

        "Repayment
Date" means, when used with respect to any Security to be repaid at the option of the Holder, the date fixed for such repayment pursuant to this Indenture. 

        "Repayment
Price" means, when used with respect to any Security to be repaid at the option of the Holder, the price at which it is to be repaid pursuant to this Indenture. 

        "Required
Currency" has the meaning specified in Section 1.14. 

        "Reset
Notice" has the meaning specified in Section 3.07(b) 

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        "Responsible
Officer," when used with respect to the Trustee, means the president, any Vice President, any assistant secretary, any assistant treasurer, any cashier, any assistant
cashier, any senior trust officer, any trust officer or assistant trust officer, any assistant controller or any other officer of the Trustee customarily performing corporate trust functions on behalf
of the Trustee, and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his 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;  provided, however, that if at any time there is more than one Person acting as Trustee under this
Indenture, "Securities," with respect to any such Person, shall have the meaning stated in the first recital of this Indenture and shall more particularly mean Securities authenticated and delivered
under this Indenture, exclusive, however, of Securities of any series as to which such Person is not Trustee. 

        "Securities
Act" means the United States Securities Act of 1933, as amended. 

        "Security
Register" and "Security Registrar" have the respective meanings specified in Section 3.05. 

        "Special
Record Date" for the payment of any Defaulted Interest on the Registered Securities of or within any series means a date fixed by the Trustee pursuant to Section 3.07. 

        "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 or a coupon representing
such installment of interest as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable, as such date may be extended pursuant to the
provisions of Section 3.08. 

        "Subsidiary"
means any corporation of which, at the time of determination, the Company, directly and/or indirectly through one or more Subsidiaries, owns more than 50% of the outstanding
Voting Stock. 

        "Subsequent
Interest Period" has the meaning specified in Section 3.07(b) 

        "Trust
Indenture Act" means the United States Trust Indenture Act of 1939, as amended, and, except as provided in Section 9.05, in force at the date as of which this
Indenture was executed. 

        "Trustee"
means the Person named as the "Trustee" in the first paragraph of this Indenture 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 only the Trustee with respect to Securities of that series. 

10

 

        "United States"
means, unless otherwise specified with respect to any Securities pursuant to Section 3.01, the United States of America (including the states and the
District of Columbia), its territories, its possessions and other areas subject to its jurisdiction. 

        "United States
person" means, unless otherwise specified with respect to any Securities pursuant to Section 3.01, an individual who is a citizen or resident of the
United States, a corporation, partnership or other entity created or organized in or under the laws of the United States or an estate or trust the income of which is subject to
United States federal income taxation regardless of its source. 

        "Valuation
Date" has the meaning specified in Section 3.12(c). 

        "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." 

        "Voting
Stock" of any Person means shares or other equity in the Person which ordinarily have the right to vote in the election of the directors (or persons performing similar functions
if the Person is not a corporation), whether at all times or only under circumstances which have occurred and are continuing. 

        "Yield
to Maturity" means the yield to maturity, computed at the time of issuance of a Security (or, if applicable, at the most recent redetermination of interest on such Security) and
as set forth in such Security in accordance with generally accepted United States bond yield computation principles. 

        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 (including any covenant compliance with which constitutes a condition precedent) 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 covenant or condition provided for in this Indenture (other than pursuant to Section 10.04) shall include: 

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

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        (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 or she has made such examination or investigation as is necessary to enable him or her, as the case may be,
to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

        (4)   a
statement as to whether, in the opinion of each such individual, such covenant or condition 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 or her 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 or permitted by this Indenture to be made, given or taken by Holders of
the Outstanding Securities of all series or one or more series, as the case may be, may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by agents duly appointed in writing. If Securities of a series are issuable as Bearer Securities, any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be made, given or taken by Holders of such series may, alternatively, be embodied in and evidenced by the record of Holders of such series voting in favor thereof, either
in person or by proxies duly appointed in writing, at any meeting of Holders of such series duly called and held in accordance with the provisions of Article 15, or a combination of such
instrument 

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or
instruments and any such record. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or record or both are delivered to the Trustee
and, where it is hereby expressly required, to the Company. The Trustee shall promptly deliver to the Company copies of all such instruments and records delivered to the Trustee with a courtesy copy
to the Company's counsel at the address listed in Section 1.05. Such instrument or instruments and any such record (and the action embodied therein and evidenced thereby) are herein sometimes
referred to as the "Act" of the Holders signing such instrument or instruments or so voting at any such meeting. Proof of execution of any such instrument or of a writing appointing any such agent, or
of the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this
Section. The record of any meeting of Holders shall be proved in the manner provided in Section 15.06. 

        (b)   The
fact and date of the execution by any Person of any such instrument or writing may be proved in any reasonable manner which the Trustee deems sufficient. 

        (c)   The
principal amount and serial numbers of Registered Securities held by any Person, and the date of commencement and the date of termination of holding the same, shall
be proved by the Security Register. 

        (d)   The
principal amount and serial numbers of Bearer Securities held by any Person, and the date of holding the same, may be proved by the production of such Bearer
Securities or by a certificate executed, as depositary, by any trust company, bank, banker or other depositary, wherever situated, if such certificate shall be deemed by the Trustee to be
satisfactory, showing that at the date therein mentioned such Person had on deposit with such depositary, or exhibited to it, the Bearer Securities therein described; or such facts may be proved by
the certificate or affidavit of the Person holding such Bearer Securities, if such certificate or affidavit is deemed by the Trustee to be satisfactory. The Trustee and the Company may assume that
such ownership of any Bearer Security continues until (1) another certificate or affidavit bearing a later date issued in respect of the same Bearer Security is produced, or (2) such
Bearer Security is produced to the Trustee by some other Person, or (3) such Bearer Security is surrendered in exchange for a Registered Security, or (4) such Bearer Security is no
longer Outstanding. The principal amount and serial numbers of Bearer Securities held by any Person, and the date of holding the same, may also be proved in any other manner that the Trustee deems
sufficient. 

        (e)   If
the Company shall solicit from the Holders of Registered Securities any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company
may, at its option, by or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders entitled to make, give or take such request, demand, authorization, direction,
notice, consent, waiver or other Act, but the Company shall have no obligation to do so. Notwithstanding Trust Indenture Act Section 316(c), such record date shall be the record date specified
in or pursuant to such Board Resolution, which shall be a date not earlier than the date 30 days prior to the first solicitation of Holders generally in connection therewith and not later than
the date such solicitation is completed. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be made, given or taken before or
after such record date, but only 

13

 

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 provisions of
this Indenture not later than eleven months after the record date. 

        (f)    Any
request, demand, authorization, direction, notice, consent, election, 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 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. 

        Any
request, demand, authorization, direction, notice, consent, election, waiver or Act of Holders of a series of Securities or other documents provided or permitted by this Indenture to
be made upon, given or furnished to, or filed with, 

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

        in
addition, a courtesy copy shall be sent to Trustee's counsel (which shall not constitute notice to the Trustee): Kelley Drye & Warren, LLP, 101 Park Avenue,
New York, New York 10178, Attention: David E. Retter, Esq. (facsimile number (212) 808-7897); 

        (2)   the
Company by the Trustee of such series or by any Holder of a Security of such series shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, or delivered by hand or overnight courier, to the Company, addressed to it at the address of its principal office specified
in the first paragraph of this Indenture or at any other address previously furnished in writing to the Trustee of such series by the Company, with a copy to Onex Corporation, 161 Bay Street, 44th
Floor, P. O. Box 700, Toronto, Ontario, Canada M5J 2S1, Attention: Anthony Melman or Mark Hilson (which shall not constitute notice to the Company); 

        in
addition, courtesy copies shall be sent to Company's counsel (which shall not constitute notice to the Company): Davies Ward Phillips & Vineberg, LLP, 1 First Canadian
Place, Suite 4400, Toronto, Ontario, Canada, M5X 1B1, Attention: I. Berl Nadler, Esq. (facsimile number (416) 863-0871) and Kaye Scholer LLP, 425 Park Avenue,
New York, New York 10022, Attention: Lynn Toby Fisher, Esq. (facsimile number (212) 836-8689). 

14

 

        Any
request, demand, authorization, direction, notice, consent, election or waiver required or permitted under this Indenture shall be in the English language, except that any published
notice may be in an official language of the country of publication. 

        Section 1.06.
Notice to Holders; Waiver. 

        Where
this Indenture provides for notice of any event to Holders of Registered Securities by the Company or the Trustee, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to each such Holder affected by such event, at his or her 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 of Registered Securities 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 of Registered Securities or the sufficiency
of any notice to Holders of Bearer Securities given as provided below. Any notice mailed to a Holder in the manner herein prescribed shall be conclusively deemed to have been received by such Holder,
whether or not such Holder actually receives such notice. 

        In
case, by reason of the suspension of or irregularities in regular mail service or by reason of any other cause, it shall be impracticable to mail notice of any event to Holders of
Registered Securities when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to the Trustee shall be
deemed to be sufficient giving of such notice for every purpose hereunder. 

        Except
as otherwise expressly provided herein or otherwise specified with respect to any Securities pursuant to Section 3.01, where this Indenture provides for notice to Holders
of Bearer Securities of any event, such notice shall be sufficiently given to Holders of Bearer Securities if published in an Authorized Newspaper in The City of New York and in such other city
or cities as may be specified in such Securities on a Business Day at least twice, the first such publication to be not earlier than the earliest date, and not later than the latest date, prescribed
for the giving of such notice. Any such notice shall be deemed to have been given on the date of the first such publication. 

        In
case, by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause, it shall be impracticable to publish any notice
to Holders of Bearer Securities as provided above, then such notification to Holders of Bearer Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to such
Holders for every purpose hereunder. Neither the failure to give notice by publication to Holders of Bearer Securities as provided above, nor any defect in any notice so published, shall affect the
sufficiency of such notice with respect to other Holders of Bearer Securities or the sufficiency of any notice to Holders of Registered Securities given as provided herein. 

        Any
request, demand, authorization, direction, notice, consent, election or waiver required or permitted under this Indenture shall be in the English language, except that any published
notice may be in an official language of the country of publication. 

15

 

        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. 

        Section 1.07.
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 1.08.
Successors and Assigns. 

        All
covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 

        Section 1.09.
Separability Clause. 

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

        Section 1.10.
Benefits of Indenture. 

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

        Section 1.11
Governing Law. 

        This
Indenture and the Securities and coupons shall be governed by and construed in accordance with the law of the State of New York without regard to its principles of conflict
of laws. This Indenture is subject to the provisions of the Trust Indenture Act that are required to be part of this Indenture and shall, to the extent applicable, be governed by such provisions. 

        Section 1.12.
Legal Holidays. 

        In
any case where any Interest Payment Date, Redemption Date, Repayment Date, sinking fund payment date or Stated Maturity or Maturity of any Security shall not be a Business Day at any
Place of Payment, then (notwithstanding any other provision of this Indenture or of any Security or coupon other than a provision in the Securities of any series which specifically states that such
provision shall apply in lieu of this Section), payment of principal (or premium, if any) or interest, 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, Repayment Date or sinking fund payment date, or at the Stated
Maturity or Maturity, as the case may be; provided that no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Redemption Date, Repayment Date,
sinking fund payment date, Stated Maturity or Maturity, as the case may be. 

16

 

        Section 1.13.
Conflict with Trust Indenture Act. 

        If
any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required or deemed under the Trust Indenture Act to be a part of and to govern
this Indenture, the provision required by the Trust Indenture Act shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that 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 1.14.
Conversion of Currency. 

        The
Company covenants and agrees that the following provisions shall apply to conversion of Currency in the case of the Securities and this Indenture: 

        (a)   To
the fullest extent allowed under applicable law, if for the purpose of obtaining judgment against the Company in any court it is necessary to convert the sum due in
respect of the principal of, or any premium or interest on, the Securities of any series (the "Required Currency") into a currency in which judgment will be rendered (the "Judgment Currency"), the
rate of exchange used shall be the Market Exchange Rate on the Business Day preceding that on which final judgment is given. The Company shall not be liable for any shortfall nor shall it benefit from
any windfall in payments to Holders of Securities under this Section 1.14 caused by a change in Market Exchange Rates between the time the amount of a judgment against it is calculated as above
and the time the Trustee converts the Judgment Currency into the Required Currency to make payments under this Section 1.14 to Holders of Securities, but payment of such judgment shall
discharge all amounts owed by the Company on the claim or claims underlying such judgment. 

        (b)   In
the event of the winding-up, liquidation, dissolution, arrangement, reorganization or insolvency of the Company at any time while any amount or damages owing under
the Securities and this Indenture, or any judgment or order rendered in respect thereof, shall remain outstanding, the Company shall indemnify and hold the Holders and the Trustee harmless against any
deficiency arising or resulting from any variation in Market Exchange Rates between (i) the date as of which the equivalent of the amount in cash due or contingently due under the Securities
and this Indenture (other than under this subsection (b)) is calculated for the purposes of such winding-up and (ii) the final date for the filing of proofs of claim in such winding-up.
For the purpose of this subsection (b), the final date for the filing of proofs of claim in the winding-up of the Company shall be the date fixed by the liquidator or otherwise in accordance
with the relevant provisions of applicable law as being the latest practicable date as at which liabilities of the Company may be ascertained for such winding-up prior to payment by the liquidator or
otherwise in respect thereto. 

17

 

        (c)   The
obligations contained in subsection (b)(ii) of this Section 1.14 shall constitute separate and independent obligations of the Company from its other
obligations under the Securities and this Indenture, shall give rise to separate and independent causes of action against the Company, shall apply irrespective of any waiver or extension granted by
any Holder or the Trustee or any of them from time to time and shall continue in full force and effect notwithstanding any judgment or order or the filing of any proof of claim in the winding-up of
the Company for a liquidated sum in respect of amounts due hereunder (other than under subsection (b) above) or under any such judgment or order. Any such deficiency as aforesaid shall be
deemed to constitute a loss suffered by the Holders or the Trustee, as the case may be, and no proof or evidence of any actual loss shall be required by the Company or the liquidator or otherwise or
any of them which shall be liable for such deficiency. In the case of subsection (b) above, the amount of such deficiency shall not be deemed to be reduced by any variation in Market Exchange
Rates occurring between the said final date and the date of any liquidating distribution. 

        (d)   The
Trustee shall have no duty or liability with respect to monitoring or enforcing this Section 1.14 and shall have no liability to the Holders due to
fluctuations in Currency rates. 

        Section 1.15.
Indenture and Securities Solely Corporate Obligations. 

        No
recourse for the payment of principal (or premium, if any) or interest, if any, 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, shareholder, employee, agent, officer or
director, as such, past, present or future, of the Company or of any successor corporations, 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 waived and released as a condition of, and as a consideration for, the execution of this Indenture and the
issuance of the Securities. 

        Section 1.16.
Agent for Service; Submission to Jurisdiction; Waiver of Immunities. 

        Upon
the execution and delivery of this Indenture, the Company hereby (a) acknowledges that it has, by separate written instrument, irrevocably designated and appointed CT
Corporation System as its authorized agent upon which process may be served in any suit, action or proceeding arising out of or relating to the Securities, the coupons or this Indenture that may be
instituted in any federal or state court in the City of New York, Borough of Manhattan, or brought under federal or state securities laws or brought by the Trustee (whether in its individual
capacity or in its capacity as Trustee hereunder), and acknowledges that CT Corporation System has accepted such designation, (b) irrevocably submits to the jurisdiction of any such court in
any such suit, action or proceeding, and (c) agrees that service of process upon CT Corporation System and written notice of said service to it (mailed or delivered to the Company's Secretary
at its address as specified pursuant to Section 1.05 hereof) shall be deemed in every respect effective service of process upon it in any such suit, action or proceeding. The Company further
agrees to take any and all actions, including the execution and filing of any and all such documents and instruments, as may be necessary to continue such designation and appointment of CT Corporation
System in full force and effect so long as any Securities shall remain Outstanding or this Indenture shall be in full force and effect. 

18

 

        To
the extent the Company has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service of notice, attachment prior to
judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, the Company hereby irrevocably waives such immunity in respect of its obligations under this
Indenture and the Securities, to the extent permitted by law. 

        Section 1.17.
Counterparts. 

        This
Indenture 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 Indenture. 

        Section 1.18.
Incorporation by Reference of Trust Indenture Act. 

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

 
 

ARTICLE 2
  
    SECURITY FORMS    
    

        Section 2.01. Forms Generally. 

        The
Registered Securities, if any, of each series and the Bearer Securities, if any, of each series and related coupons shall be in substantially the forms 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 Securities Act,
the Exchange Act, applicable provincial or state securities laws or the rules of any securities exchange in the United States or Canada, the Code and the United States Department of
Treasury regulations under the Code or as may, consistently herewith, be determined by the officers executing such Securities or coupons, as evidenced by their execution of the Securities or coupons
but which do not affect the rights or duties of the Trustee. If the forms of Securities or coupons of any 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 Company Order
contemplated by Section 3.03 for the authentication and delivery of such Securities or coupons. Any portion of the text of any Security may be set forth on the reverse thereof, with an
appropriate reference thereto on the face of the Security. 

19

 

        Unless
otherwise specified as contemplated by Section 3.01, Securities in bearer form shall have interest coupons attached thereto. 

        The
Trustee's certificate of authentication on all Securities shall be in substantially the form set forth in this Article. 

        The
definitive Securities and coupons shall be printed, lithographed or engraved on steel-engraved borders or may be produced in any other manner permitted by the rules of any applicable
stock exchange, all as determined by the officers of the Company executing such Securities, as evidenced by their execution of such Securities or coupons. 

        Section 2.02.
Form of Trustee's Certificate of Authentication. 

        Subject
to Section 6.11, the Trustee's certificate of authentication shall be in substantially the following form: 

        TRUSTEE'S
CERTIFICATE OF AUTHENTICATION 

        Dated:
                                         
                  

        This
is one of the Securities of the series referred to in the within-mentioned Indenture. 

	 	 	JPMORGAN CHASE BANK,

as Trustee
	
 	
 	

By	

 
	 	 	 	
 Authorized Officer

        Section 2.03.
Global Securities. 

        If
Securities of or within a series are issuable as Global Securities, as specified as contemplated by Section 3.01, then, notwithstanding clause (10) of
Section 3.01, any such Security shall represent such of the Outstanding Securities of such series as shall be specified therein and may provide that it shall represent the aggregate amount of
Outstanding Securities of such series from time to time endorsed thereon and that the aggregate amount of Outstanding Securities of such series represented thereby may from time to time be increased
or decreased to reflect exchanges. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, or changes in the rights of Holders, of Outstanding Securities
represented thereby shall be made by the Trustee in such manner and upon instructions given by such Person or Persons as shall be specified therein or in the Company Order to be delivered to the
Trustee pursuant to Section 3.03 or Section 3.04. Subject to the provisions of Section 3.03 and, if applicable, Section 3.04, the Trustee shall deliver and redeliver any
permanent Global Security in the manner and upon instructions given by the Person or Persons specified therein or in the applicable Company Order. If a Company Order pursuant to Section 3.03 or
Section 3.04 has been, or simultaneously is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Global Security shall be in writing but need
not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel. 

20

  

        The provisions of the last sentence of Section 3.03 shall apply to any Security represented by a Global Security if such Security was never issued and sold by the Company and the
Company delivers to the Trustee the Global Security together with written instructions (which need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel) with
regard to the reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence of Section 3.03. 

        Notwithstanding
the provisions of Section 3.07, unless otherwise specified as contemplated by Section 3.01, payment of principal of (and premium, if any) and interest, if
any, on any permanent Global Security shall be made to the Person or Persons specified therein. 

        Notwithstanding
the provisions of Section 3.09 and except as provided in the preceding paragraph, the Company, the Trustee and any agent of the Company and the Trustee
shall treat as the Holder of such principal amount of Outstanding Securities represented by a permanent Global Security (i) in the case of a permanent Global Security in registered form, the
Holder of such permanent Global Security in registered form, or (ii) in the case of a permanent Global Security in bearer form, Euroclear or Clearstream International. 

        Section 2.04.
Form of Legend for Global Securities. 

        Any
Global Security authenticated and delivered pursuant to this Indenture or any indenture supplemental hereto may bear any legend required to comply with the requirements of any
Depositary. 

 
 

ARTICLE
  
    THE SECURITIES    
    

        Section 3.01.
Amount Unlimited; Issuable in Series. 

        The
aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 

        The
Securities may be issued from time to time in one or more series. There shall be established in one or more Board Resolutions or pursuant to authority granted by one or more Board
Resolutions 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, any or all of the following, as
applicable (each of which (except for the matters set forth in clauses (1), (2) and (19) below), if so provided, may be determined from time to time by the Company with respect to
unissued Securities of the series and set forth in such Securities of the series when issued from time to time): 

21

 

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

        (2)   any
limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 3.04, 3.05, 3.06, 9.06, 11.07 or 13.05); 

        (3)   the
extent and manner, if any, to which payment on or in respect of the Securities of the series will be senior or will be subordinated to the prior payment of other
liabilities and obligations of the Company; 

        (4)   the
percentage or percentages of principal amount at which the Securities of the series will be issued and the amount of discount, if any, with which such Securities
will be issued; 

        (5)   the
date or dates, or the method by which such date or dates will be determined or extended, on which the principal of the Securities of the series is payable; 

        (6)   the
rate or rates (whether fixed or variable) at which the Securities of the series shall bear interest, if any, or the method by which such rate or rates shall be
determined, the date or dates from which such interest shall accrue, or the method by which such date or dates shall be determined, the notice, if any, to Holders regarding the determination of
interest on a floating rate Security and the manner of giving such notice, the Interest Payment Dates on which such interest shall be payable and the Regular Record Date, if any, for the interest
payable on any Registered Security on any Interest Payment Date, or the method by which such date or dates shall be determined; provided,  however, that
interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months; 

        (7)   the
place or places, if any, other than or in addition to the Borough of Manhattan, The City of New York, where the principal of (and premium, if any) and
interest, if any, on Securities of the series shall be payable, where any Registered Securities of the series may be surrendered for registration of transfer, where Securities of the series may be
surrendered for exchange, where Securities of the series that are convertible or exchangeable may be surrendered for conversion or exchange, as applicable and, if different than the location specified
in Section 1.06, the place or places where notices or demands to or upon the Company in respect of the Securities of the series and this Indenture may be served; 

        (8)   the
period or periods within which, the price or prices at which, the Currency in which, and other terms and conditions upon which Securities of the series may be
redeemed, in whole or in part, at the option of the Company, if the Company is to have that option; 

22

 

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

        (10) if
other than denominations of $1,000 and any integral multiple thereof, the denomination or denominations in which Registered Securities of the series, if any, shall
be issuable and, if other than denominations of $5,000, the denomination or denominations in which Bearer Securities of the series, if any, shall be issuable; 

        (11) if
other than the Trustee, the identity of each Security Registrar and/or Paying Agent; 

        (12) if
other than the principal amount thereof, the portion of the principal amount of Securities of the series that shall be payable upon declaration of acceleration of
the Maturity thereof pursuant to Section 5.02 or the method by which such portion shall be determined; 

        (13) if
other than Dollars, the Currency in which payment of the principal of (or premium, if any) or interest, if any, on the Securities of the series shall be payable or
in which the Securities of the series shall be denominated and the particular provisions applicable thereto in accordance with, in addition to or in lieu of any of the provisions of
Section 3.12; 

        (14) whether
the amount of payments of principal of (or premium, if any) or interest, if any, on the Securities of the series may be determined with reference to an index,
formula or other method (which index, formula or method may be based, without limitation, on one or more Currencies, commodities, equity indices or other indices), and the manner in which such amounts
shall be determined; 

        (15) whether
the principal of (or premium, if any) or interest, if any, on the Securities of the series are to be payable, at the election of the Company or a Holder
thereof, in a Currency other than that in which such Securities are denominated or stated to be payable, the period or periods within which (including the Election Date), and the terms and conditions
upon which, such election may be made, and the time and manner of determining the exchange rate between the Currency in which such Securities are denominated or stated to be payable and the Currency
in which such Securities are to be so payable, in each case in accordance with, in addition to or in lieu of any of the provisions of Section 3.12; 

        (16) the
designation of the initial Exchange Rate Agent, if any; 

        (17) the
applicability, if any, of Sections 14.02 and/or 14.03 to the Securities of the series and any provisions in modification of, in addition to or in lieu
of any of the provisions of Article 14 that shall be applicable to the Securities of the series; 

23

 

        (18) provisions,
if any, granting special rights to the Holders of Securities of the series upon the occurrence of such events as may be specified; 

        (19) any
deletions from, modifications of or additions to the Events of Default or covenants (including any deletions from, modifications of or additions to
Articles 5, 8 and 10) of the Company with respect to Securities of the series, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants
set forth herein (which deletions, modifications or additions shall not be inconsistent with the Trust Indenture Act); 

        (20) whether
Securities of the series are to be issuable as Bearer Securities (with or without coupons), any restrictions applicable to the offer, sale or delivery of Bearer
Securities, whether any Securities of the series are to be issuable initially as temporary Global Securities and whether any Securities of the series are to be issuable as permanent Global Securities
with or without coupons and, if so, whether beneficial owners of interests in any such permanent Global Security may exchange such interests for Securities of such series and of like tenor of any
authorized form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section 3.05, whether Registered Securities of the
series may be exchanged for Bearer Securities of the series (if permitted by applicable laws and regulations), whether Bearer Securities of the series may be exchanged for Registered Securities of
such series, and the circumstances under which and the place or places where any such exchanges may be made and if Securities of the series are to be issuable as Global Securities, the identity of any
initial Depositary therefor and the form of any legend or legends to be borne by the Global Security; 

        (21) the
date as of which any Bearer Securities of the series, any temporary Bearer Security in global form and any Global Securities representing Outstanding 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; 

        (22) the
Person to whom any interest on any Registered Security of the series shall be payable, if other than 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, the manner in which, or the Person to whom, any interest on any Bearer Security of the
series shall be payable, if otherwise than upon presentation and surrender of the coupons appertaining thereto as they severally mature, and the extent to which, or the manner in which, any interest
payable on a temporary Global Security on an Interest Payment Date will be paid if other than in the manner provided in Section 3.04; 

        (23) if
Securities of the series are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary Security of such series) only upon
receipt of certain certificates or other documents or satisfaction of other conditions, the form and/or terms of such certificates, documents or conditions; 

        (24) if
the Securities of the series are to be issued upon the exercise of warrants, the time, manner and place for such Securities to be authenticated and delivered; 

24

 

        (25) whether,
under what circumstances and the Currency in which the Company will pay Additional Amounts as contemplated by Section 10.05 on the Securities of the
series to any Holder who is not a Canadian Person (including any modification to the definition of Additional Amounts) in respect of any tax, assessment or governmental charge and, if so, whether the
Company will have the option to redeem such Securities rather than pay such Additional Amounts (and the terms of any such option); 

        (26) the
terms of any guarantee of the payment of principal, premium and interest with respect to Securities of the series and any corresponding changes to the provisions of
this Indenture as then in effect; 

        (27) the
terms, if any, of the transfer, mortgage, pledge or assignment as security for the Securities of the series of any properties, assets, moneys, proceeds, securities
or other collateral, including whether certain provisions of the Trust Indenture Act are applicable and any corresponding changes to provisions of this Indenture as then in effect; and 

        (28) if
the Securities of the series are to be convertible into or exchangeable for any securities of any Person (including the Company), the terms and conditions upon which
such Securities will be so convertible or exchangeable; 

        (29) any
other terms, conditions, rights and preferences (or limitations on such rights and preferences) relating to the series (which terms shall not be inconsistent with
the requirements of the Trust Indenture Act). 

        All
Securities of any one series and the coupons appertaining to any Bearer Securities of such series shall be substantially identical except, in the case of Registered Securities, as to
denomination and except as may otherwise be provided in or pursuant to such Board Resolution (subject to Section 3.03) and set forth in such Officers' Certificate or in any such
indenture supplemental hereto as the case may be. Not all Securities of any one series need be issued at the same time, and, unless otherwise provided, a series may be reopened for issuances of
additional Securities of such series. To the extent any terms of a supplemental indenture relating to a series of Securities are contrary to or duplicative of terms contained in this Indenture, the
terms of such supplemental indenture shall be deemed to supersede this Indenture solely with respect to the Securities issued pursuant to such supplemental indenture. 

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

        Section 3.02.
Denominations. 

        The
Securities of each series shall be issuable in such denominations as shall be specified as contemplated by Section 3.01. With respect to Securities of any series denominated
in Dollars, in the absence of any such provisions, the Registered Securities of such series, other than Registered Securities issued in global form (which may be of any denomination), shall be
issuable in denominations of $1,000 and any integral multiple thereof and the Bearer Securities of such series, other than the Bearer Securities issued in global form (which may be of any
denomination), shall be issuable in a denomination of $5,000. 

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        Section 3.03.
Execution, Authentication, Delivery and Dating. 

        The
Securities and any coupons appertaining thereto shall be executed on behalf of the Company by its Chairman of the Board, its Vice Chairman of the Board, its Chief Executive Officer,
its President, any Executive Vice President, any Senior Vice President, any Vice President or its Treasurer. The signature of any of these officers on the Securities or coupons may be the manual or
facsimile signatures of the present or any future such authorized officer and may be imprinted or otherwise reproduced on the Securities. 

        Securities
or coupons bearing the manual or facsimile signatures of individuals who were, at any time relevant to the authorization thereof, 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 or coupons. 

        At
any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series, together with any coupon appertaining thereto,
executed on behalf of the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with such
Company Order shall authenticate and deliver such Securities. If any Security shall be represented by a permanent Bearer Security in global form, then, for purposes of this Section and
Section 3.04, the notation of a beneficial owner's interest therein upon original issuance of such Security or upon exchange of a portion of a temporary Global Security shall be deemed to be
delivery in connection with its original issuance of such beneficial owner's interest in such permanent Global Security. Except as permitted by Section 3.06, the Trustee shall not authenticate
and deliver any Bearer Security unless all appurtenant coupons for interest then matured have been detached and canceled. If not all the Securities of any series are to be issued at one time and if
the Board Resolution or supplemental indenture establishing such series shall so permit, such Company Order shall set forth procedures acceptable to the Trustee for the issuance of such Securities and
the determination of terms of particular Securities of such series such as interest rate, Stated Maturity, date of issuance and date from which interest shall accrue. 

        In
authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and
(subject to Trust Indenture Act Sections 315(a) through 315(d)) shall be fully protected in relying upon: 

        1.     an
Opinion of Counsel complying with Section 1.02 stating: 

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        (a)   that
the form or forms of such Securities and any coupons have been established by or pursuant to a Board Resolution or by an indenture supplemental hereto as permitted
by Section 2.01 and in conformity with the provisions of this Indenture; 

        (b)   that
the terms of such Securities and any coupons have been established by or pursuant to a Board Resolution or by an indenture supplemental hereto as limited by
Sections 2.01 and 3.01 and in conformity with the provisions of this Indenture; 

        (c)   that
such Securities, together with any coupons appertaining thereto, when completed by appropriate insertions and executed and delivered by the Company to the Trustee
for authentication in accordance with this Indenture, authenticated and delivered by the Trustee in accordance with this Indenture and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute the legal, valid and binding obligations of the Company entitled to the benefits provided by the Indenture, enforceable in accordance with their
terms, subject to (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or transfer and other similar laws of general applicability relating to or affecting
the enforcement of creditors' rights, (ii) general equitable principles and (iii) such other qualifications as such counsel shall conclude do not materially affect the rights of Holders
of such Securities and any coupons; 

        (d)   that
all laws and requirements in respect of the execution and delivery by the Company of such Securities, any coupons and of the supplemental indentures, if any, have
been complied with and that authentication and delivery of such Securities and any coupons and the execution and delivery of the supplemental indenture, if any, by the Trustee will not violate the
terms of the Indenture; 

        (e)   that
the Company has the corporate power to issue such Securities and any coupons, and has duly taken all necessary corporate action with respect to such issuance; 

        (f)    that
the issuance of such Securities and any coupons will not contravene the articles of incorporation or by-laws of the Company or result in any violation of any of the
terms or provisions of any law or regulation or of any indenture, mortgage or other agreement known to such Counsel by which the Company is bound; and 

        (g)   such
other matters as the Trustee may reasonably request. 

        2.     an
Officers' Certificate pursuant to Sections 2.01 and 3.01 and complying with Section 1.02; and 

        3.     The
board resolution or an indenture supplemental hereto establishing the form of the Securities of that series pursuant to Section 2.01 and setting forth
the terms of the Securities of that series as contemplated by Section 3.01. 

27

 

        Notwithstanding
the provisions of Section 3.01 and of the preceding two paragraphs, if not all the Securities of any series are to be issued at one time, it shall not be
necessary to deliver the Officers' Certificate otherwise required pursuant to Section 3.01 or the Company Order, Officers' Certificate and Opinion of Counsel otherwise required pursuant
to the preceding two paragraphs prior to or at the time of issuance of each Security, but such documents shall be delivered prior to or at the time of issuance of the first Security of such series and
shall pertain to all of the Securities of such series. After any such first delivery, any separate Company Request that the Trustee receives concerning Securities of such series for original issue
will be deemed to be a Officers' Certificate that all conditions precedent provided for in this Indenture relating to the authentication and delivery of such Securities continue to be met. 

        The
Trustee shall not be required to authenticate and deliver any Securities if (i) 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; (ii) the Trustee, being advised by counsel, determines
that such action may not lawfully be taken; or (iii) the Trustee in good faith, acting by its board of directors, executive committee, a committee of directors or Responsible Officers of the
Trustee, determines that such action would expose the Trustee to personal liability to Holders of any Outstanding Securities. 

        Each
Security shall be dated the date of its authentication. 

        No
Security or coupon 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 duly executed by the Trustee by manual signature of an authorized officer, 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. Notwithstanding the foregoing, if any
Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in
Section 3.10 together with a written statement (which need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel) stating that such Security has never
been issued and sold by the Company, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the
benefits of this Indenture. 

        Section 3.04.
Temporary Securities. 

        Pending
the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee 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 (but which
do not affect the rights or duties of the Trustee). 

        If
temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of
definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series
at the office or agency of the Company maintained pursuant to Section 10.02 in each Place of Payment for that series for the purpose of exchanges of Securities of such series, without charge to
the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series (accompanied by any related coupons appertaining thereto) the Company shall execute and the Trustee
shall authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of a like aggregate principal amount and tenor. 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 and tenor. 

28

 

        Section 3.05.
Registration, Registration of Transfer and Exchange. 

        The
Company shall cause to be kept at one of its offices or agencies maintained pursuant to Section 10.02 a register for each series of Securities (herein sometimes 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 Registered Securities and transfers and exchanges of
such Registered Securities of such series. The Security Register shall be in written form or any other form capable of being converted into written form within a reasonable time. At all reasonable
times, the Security Register shall be open to inspection by the Trustee. Such office or agency is hereby initially appointed as security registrar (the "Security Registrar") for the purpose of
registering Registered Securities of each series and transfers and exchanges of Registered Securities of such series as herein provided. 

        The
Company shall have the right to remove and replace from time to time the Security Registrar for any series of Securities; provided, that, no such removal or replacement shall be
effective until a successor Security Registrar with respect to such series of Registered Securities shall have been appointed by the Company and shall have accepted such appointment by the Company. In
the event that the Trustee shall not be or shall cease to be the Security Registrar with respect to a series of Securities, it shall have the right to examine the Security Register for such series at
all reasonable times. There shall be only one Security Registrar for such series of Securities. 

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

        At
the option of the Holder, Registered Securities of any series (except a Global Security representing all or a portion of such series) may be exchanged for other Registered Securities
of the same series, Stated Maturity and original issue date of any authorized denomination and of a like aggregate principal amount and like tenor, upon surrender of the Registered Securities to be
exchanged at such office or agency. Whenever any Registered Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Registered
Securities which the Holder making the exchange is entitled to receive. Unless otherwise specified with respect to any series of Securities as contemplated by Section 3.01, Bearer Securities
may not be issued in exchange for Registered Securities. 

29

 

        If
(but only if) expressly permitted in or pursuant to the applicable Board Resolution and set forth in the applicable Officers' Certificate, or in any indenture supplemental hereto,
delivered as contemplated by Section 3.01, at the option of the Holder, Bearer Securities of any series, Stated Maturity and original issue date, may be exchanged for Registered Securities of
the same series of any authorized denomination and of a like aggregate principal amount and tenor, upon surrender of the Bearer Securities to be exchanged at any such office or agency, with all
unmatured coupons and all matured coupons in default thereto appertaining. If the Holder of a Bearer Security is unable to produce any such unmatured coupon or coupons or matured coupon or coupons in
default, any such permitted exchange may be effected if the Bearer Securities are accompanied by payment in funds acceptable to the Company and the Trustee in an amount equal to the face amount of
such missing coupon or coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there is furnished to them such security or indemnity as they may
require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to any Paying Agent any such missing coupon in respect of which such a payment
shall have been made, such Holder shall be entitled to receive the amount of such payment. Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at any such office or
agency in a permitted exchange for a Registered Security of the same series and like tenor after the close of business at such office or agency on (i) any Regular Record Date and before the
opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such office or agency on the related
proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to such Interest Payment Date or proposed date for payment, as the case may be,
and interest or Defaulted Interest, as the case may be, will not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of the Registered Security issued
in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance with the provisions of this Indenture. 

        Whenever
any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is
entitled to receive. 

        Notwithstanding
the foregoing, except as otherwise specified as contemplated by Section 3.01, any permanent Global Security shall be exchangeable only as provided in this
paragraph and the immediately following paragraph. If any beneficial owner of an interest in a permanent Global Security is entitled to exchange such interest for Securities of such series and of like
tenor and principal amount of another authorized form and denomination, as specified as contemplated by Section 3.01 and provided that any applicable notice provided in the permanent
Global Security shall have been given, then without unnecessary delay but in any event not later than the earliest date on which such interest may be so exchanged, the Company shall deliver to the
Trustee definitive Securities of that series in aggregate principal amount equal to the principal amount of such beneficial owner's interest in such permanent Global Security, executed by the Company.
On or after the earliest date on which such interests may be so exchanged, such permanent Global Security shall be surrendered by the Depositary or such other depositary as shall be specified in the
Company Order with respect thereto to the Trustee, as the Company's agent for such purpose, to be exchanged, in whole or from time to time in part, for definitive Securities of the same series without
charge, and the Trustee shall authenticate and deliver, in exchange for each portion of such permanent Global Security, an equal aggregate principal amount of definitive Securities of the same series
of authorized denominations and of like tenor as the portion of such permanent Global Security to be exchanged which (unless the Securities of the series are not issuable both as Bearer Securities and
as Registered Securities, as specified as contemplated by Section 3.01) shall be in the form of Bearer Securities or Registered Securities, or any combination thereof, as shall be specified by
the beneficial owner thereof; provided, however, that no such exchanges may occur during a period
beginning at the opening of business 15 days before any selection of Securities of that series to be redeemed and ending on the relevant Redemption Date if the Security for which exchange is
requested may be among those selected for redemption. If a Registered Security is issued in exchange for any portion of a permanent Global Security after the close of business at the office or agency
where such exchange occurs on (i) any Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special Record
Date and before the opening of business at such office or agency on the related proposed date for payment of Defaulted Interest, interest or Defaulted Interest, as the case may be, will not be payable
on such Interest Payment Date or proposed date for payment, as the case may be, in respect of such Registered Security, but will be payable on such Interest Payment Date or proposed date for payment,
as the case may be, only to the Person to whom interest in respect of such portion of such permanent Global Security is payable in accordance with the provisions of this Indenture. 

30

 

        If
at any time the Depositary for Securities of a series notifies the Company that it is unwilling, unable or no longer qualifies to continue as Depositary for Securities of such series
or if at any time the Depositary for Securities for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, the Company shall
appoint a successor Depositary with respect to the Securities for such series. If a successor to the Depositary for Securities is not appointed by the Company within 90 days after the Company
receives such notice or becomes aware of such condition, as the case may be, the Company's election pursuant to Section 3.01 shall no longer be effective with respect to the Securities for such
series and 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 in definitive registered form, in authorized denominations, 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. 

        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 in definitive registered form, in authorized denominations, 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. 

31

 

        Upon
the exchange of a Global Security for Securities in definitive registered form, such Global Security shall be canceled 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 in writing. The Trustee shall deliver such Securities to the persons in whose names such Securities are so registered. 

        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
Registered Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee or any successor Security Registrar)
be duly endorsed, or be accompanied by a written instrument of transfer, in form satisfactory to the Company and the Security Registrar, 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 3.04, 9.06, 11.07 or 14.05 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 the selection for redemption of Securities of that series under Section 11.03 or 12.03 and ending at the close of business on (A) if Securities of the series are
issuable only as Registered Securities, the day of the mailing of the relevant notice of redemption and (B) if Securities of the series are issuable as Bearer Securities, the day of the first
publication of the relevant notice of redemption or, if Securities of the series are also issuable as Registered Securities and there is no publication, the mailing of the relevant notice of
redemption, or (ii) to issue, register the transfer of or exchange any Registered Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being
redeemed in part, or (iii) to exchange any Bearer Security so selected for redemption except that such a Bearer Security may be exchanged for a Registered Security of that series and like
tenor; provided that such Registered Security shall be simultaneously surrendered for redemption with written instruction for payment consistent with the provisions of this Indenture; or
(iv) to issue, register the transfer of or exchange any Security which has been surrendered for repayment at the option of the Holder, except the portion, if any, of such Security not to be so
repaid. 

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

        If
any mutilated Security or a Security with a mutilated coupon appertaining to it is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver
in exchange therefor a new Security of the same series, Stated Maturity and original issue date, and of like tenor and principal amount and bearing a number not contemporaneously outstanding, with
coupons corresponding to the coupons, if any, appertaining to the surrendered Security. 

32

 

        If
there shall be delivered to the Company and to the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security or coupon and (ii) such
security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security or
coupon has been acquired by a bona fide purchaser, the Company shall execute and upon Company Order the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security
or in exchange for the Security to which a destroyed, lost or stolen coupon appertains (with all appurtenant coupons not destroyed, lost or stolen), a new Security of the same series, Stated Maturity,
original issue date and of like tenor and principal amount and bearing a number not contemporaneously outstanding, with coupons corresponding to the coupons, if any, appertaining to such destroyed,
lost or stolen Security or to the Security to which such destroyed, lost or stolen coupon appertains. 

        Notwithstanding
the provisions of the previous two paragraphs, in case any such mutilated, destroyed, lost or stolen Security or coupon has become or is about to become due and payable,
the Company in its discretion may, instead of issuing a new Security, with coupons corresponding to the coupons, if any, appertaining to such mutilated, destroyed, lost or stolen Security or to the
Security to which such mutilated, destroyed, lost or stolen coupon appertains, pay such Security or coupon; provided,  however, that payment of interest, if
any, on Bearer Securities shall, unless otherwise specified as contemplated by Section 3.01, be payable
only upon presentation and surrender of the coupons appertaining thereto. 

        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 (other than any stamp and other duties, if any, which may be imposed by the United States, Canada or any political subdivision thereof or therein, which shall be paid by the
Company) and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

        Every
new Security of any series with its coupons, if any, issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Security or in exchange for a Security to
which a mutilated, destroyed, lost or stolen coupon appertains, shall constitute an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen
Security and its coupons, if any, or the mutilated, destroyed, lost or stolen coupon 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 and their coupons, if any, duly issued hereunder. 

        The
provisions of this Section, as amended or supplemented pursuant to this Indenture with respect to a particular series of Securities or generally, 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 or coupons. 

33

 

        Section 3.07.
Payment of Principal and Interest; Interest Rights Preserved; Optional Interest Reset. 

        (a)   Unless
otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest, if any, on any Registered 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 such Security (or one or more Predecessor Securities) is registered at the close of
business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose pursuant to Section 10.02;  provided, however, that each installment of interest, if any, on any Registered Security or the
principal at Maturity may, at the Company's option, be paid by (i) mailing a check for such interest or principal payment, payable to or upon the written order of the Person entitled thereto
pursuant to Section 3.09, to the address of such Person as it appears on the Security Register or (ii) wire transfer to an account maintained by the payee; provided further, that
principal paid in relation to any Security redeemed at the option of the Company pursuant to Article 11, or paid at Maturity, shall be paid to the Holder of such Security only upon
presentation and surrender of such Security to such office or agency referred to in this Section 3.07(a). 

        Unless
otherwise provided as contemplated by Section 3.01 with respect to the Securities of any series, payment of interest, if any, may be made, in the case of a Bearer Security,
by transfer to an account maintained by the payee. 

        Unless
otherwise provided as contemplated by Section 3.01, every permanent Global Security will provide that interest, if any, payable on any Interest Payment Date will be paid to
the Depositary, for the purpose of permitting the Depositary to credit the interest, if any, received by it in respect of such permanent Global Security to the accounts of the beneficial owners
thereof. 

        Any
interest on any Registered Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable
to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such defaulted interest and, if applicable, interest on such defaulted interest (to the extent lawful) at
the rate specified in the Securities of such series (such defaulted interest and, if applicable, interest thereon herein collectively called "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 Registered 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 Registered 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 in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.01 for the Securities
of such series and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e)) 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 on or 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 given in the manner provided in Section 1.06, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor having been so given, such Defaulted Interest shall be paid to the Persons in whose name the Registered 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). 

34

 

        (2)   The
Company may make payment of any Defaulted Interest on the Registered Securities of any series in any other lawful manner not inconsistent with the requirements of
any securities exchange 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. 

        (b)   The
provisions of this Section 3.07(b) may be made applicable to any series of Securities pursuant to Section 3.01 (with such modifications, additions or
substitutions as may be specified pursuant to such Section 3.01). The interest rate (or the spread or spread multiplier used to calculate such interest rate, if applicable) 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 such Security
by notifying the Trustee of such exercise at least 50 but not more than 60 days prior to an Optional Reset Date for such Security by delivery of a Company Order. Not later than 40 days
prior to each Optional Reset Date, the Trustee shall transmit, in the manner provided for in Section 1.06, to the Holder of any such Security a notice (the "Reset Notice") indicating
whether the Company has elected to reset the interest rate (or the spread or spread multiplier used to calculate such interest rate, if applicable), and if so (i) such new interest rate (or
such new spread or spread multiplier, if applicable) 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 (or the spread or spread
multiplier used to calculate such interest rate, if applicable) provided for in the Reset Notice and establish an interest rate (or a spread or spread multiplier used to calculate such interest rate,
if applicable) that is higher than the interest rate (or the spread or spread multiplier, if applicable) provided for in the Reset Notice, for the Subsequent Interest Period by directing the Trustee
by delivery of a Company Order, to transmit, in the manner provided for in Section 1.06, notice of such higher interest rate (or such higher spread or spread multiplier, if applicable) to the
Holder of such Security within 30 days after receipt of such Company Order. Such notice shall be irrevocable. All Securities with respect to which the interest rate (or the spread or spread
multiplier used to calculate such interest rate, if applicable) is reset on an Optional Reset Date, and with respect to which the Holders of such Securities
have not tendered such Securities for repayment (or have validly revoked any such tender) pursuant to the next succeeding paragraph, will bear such higher interest rate (or such higher spread or
spread multiplier, if applicable). 

35

 

        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 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 3.05, 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.
Optional Extension of Stated Maturity. 

        The
provisions of this Section 3.08 may be made and shall only be applicable to any series of Securities if expressly set forth in a supplemental indenture with respect to such
Securities pursuant to Section 3.01 (with such modifications, additions or substitutions as may be specified pursuant to such Section 3.01). The Stated Maturity of any Security of such
series may be extended, if contemplated by the particular Series of Securities, 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 option (the "Original Stated Maturity") by delivery of a
Company Order. If the Company exercises such option, the Trustee shall transmit, in the manner provided for in Section 1.06, 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 Stated Maturity, (ii) the new Stated Maturity,
(iii) the interest rate, if any, 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 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 Extension Notice. 

36

 

        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 directing the Trustee by delivery of a Company Order, to transmit, in the manner provided for in
Section 1.06, notice of such higher interest rate to the Holder of such Security within 10 days after receipt of such Company Order. 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 Stated 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 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
must follow the procedures set forth in Article Thirteen for repayment at the option of Holders, 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 fifth day before the Original Stated Maturity. 

        Section 3.09.
Persons Deemed Owners. 

        Prior
to due presentment of a Registered Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name
such Registered Security is registered as the absolute owner of such Registered Security for the purpose of receiving payment of principal of (and premium, if any) and (subject to Sections 3.05
and 3.07) interest, if any, on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and none of the Company, the Trustee or any agent of the Company or
the Trustee shall be affected by notice to the contrary. 

        Title
to any Bearer Security and any coupons appertaining thereto shall pass by delivery. The Company, the Trustee and any agent of the Company or the Trustee may treat the bearer of any
Bearer Security and the bearer of any coupon as the absolute owner of such Security or coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes whatsoever,
whether or not such Security or coupons be overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary. 

        The
Depositary, or its nominee, may be treated by the Company, the Trustee, and any agent of the Company or the Trustee as the owner of such Global Security for all purposes whatsoever.
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 of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

37

 

        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 the 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 3.10.
Cancellation. 

        All
Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against any current or future
sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee. All Securities and coupons so delivered to the Trustee, if not already cancelled, shall be
promptly canceled 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 may deliver to the Trustee for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be
promptly canceled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by
such Securities unless and until the same are surrendered to the Trustee for cancellation. For purposes of this Section 3.10, the repayment of any principal amount of Securities at the option
of the Holder shall not operate as a payment, redemption or satisfaction of the indebtedness represented by such Securities unless and until the Company shall deliver or surrender the same to the
Trustee with a Company Order that such Securities be canceled. No Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided in this Section, except as
expressly permitted by this Indenture. All canceled Securities and coupons held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures and certification of
their disposal delivered to the Company unless by Company Order the Company shall direct that canceled Securities be returned to it. 

        Section 3.11.
Computation of Interest. 

        Interest,
if any, on the Securities of any series shall be computed on the basis of a 360-day year of twelve 30-day months. 

        Section 3.12.
Currency and Manner of Payments in Respect of Securities. 

        (a)   With
respect to Registered Securities of any series not permitting the election provided for in paragraph (b) below or the Holders of which have not made the
election provided for in paragraph (b) below, and with respect to Bearer Securities of any series, except as provided in paragraph (d) below, payment of the principal of (and
premium, if any) and interest, if any, on any Registered or Bearer Security of such series will be made in the Currency in which such Registered Security or Bearer Security, as the case may be, is
payable. The provisions of this Section 3.12 may be modified or superseded with respect to any Securities pursuant to Section 3.01. 

38

 

        (b)   It
may be provided pursuant to Section 3.01 with respect to Registered Securities of any series that Holders shall have the option, subject to
paragraphs (d) and (e) below, to receive payments of principal of (or premium, if any) or interest, if any, on such Registered Securities in any of the Currencies which may be designated
for such election by delivering to the Trustee a written election with signature guarantees and in the applicable form established pursuant to Section 3.01, not later than the close of business
on the Election Date immediately preceding the applicable payment date. If a Holder so elects to receive such payments in any such Currency, such election will remain in effect for such Holder or any
transferee of such Holder until changed by such Holder or such transferee by written notice to the Trustee (but any such change must be made not later than the close of business on the Election Date
immediately preceding the next payment date to be effective for the payment to be made on such payment date and no such change of election may be made with respect to payments to be made on any
Registered Security of such series with respect to which an Event of Default has occurred or with respect to which the Company has deposited funds pursuant to Article 4 or 14 or with
respect to which a notice of redemption has been given by the Company or a notice of option to elect repayment has been sent by such Holder or such transferee). Any Holder of any such Registered
Security who shall not have delivered any such election to the Trustee not later than the close of business on the applicable Election Date will be paid the amount due on the applicable payment date
in the relevant Currency as provided in Section 3.12(a). The Trustee shall notify the Exchange Rate Agent as soon as practicable after the Election Date of the aggregate principal amount of
Registered Securities for which Holders have made such written election. 

        (c)   Unless
otherwise specified pursuant to Section 3.01, if the election referred to in paragraph (b) above has been provided for pursuant to
Section 3.01, then, unless otherwise specified pursuant to Section 3.01, not later than the fourth Business Day after the Election Date for each payment date for Registered Securities of
any series, the Exchange Rate Agent will deliver to the Company a written notice specifying, in the Currency in which Registered Securities of such series are payable, the respective aggregate amounts
of principal of (and premium, if any) and interest, if any, on the Registered Securities to be paid on such payment date, specifying the amounts in such Currency so payable in respect of the
Registered Securities as to which the Holders of Registered Securities of such series shall have elected to be paid in another Currency as provided in paragraph (b) above. If the election
referred to in paragraph (b) above has been provided for pursuant to Section 3.01 and if at least one Holder has made such election, then, unless otherwise specified pursuant to
Section 3.01, on the second Business Day preceding such payment date the Company will deliver to the Trustee for such series of Registered Securities an Exchange Rate Officers' Certificate in
respect of the Dollar or Foreign Currency payments to be made on such payment date. Unless otherwise specified pursuant to Section 3.01, the Dollar or Foreign Currency amount receivable by
Holders of Registered Securities who have elected payment in a Currency as provided in paragraph (b) above shall be determined by the Company on the basis of the applicable Market Exchange Rate
in effect on the third Business Day (the "Valuation Date") immediately preceding each payment date, and such determination shall be conclusive and binding for all purposes, absent manifest error. 

39

 

        (d)   If
a Conversion Event occurs with respect to a Foreign Currency in which any of the Securities are denominated or payable other than pursuant to an election provided for
pursuant to paragraph (b) above, then with respect to each date for the payment of principal of (and premium, if any) and interest, if any, on the applicable Securities denominated or payable
in such Foreign Currency occurring after the last date on which such Foreign Currency was used (the "Conversion Date"), the Dollar shall be the Currency of payment for use on each such payment date.
Unless otherwise specified pursuant to Section 3.01, the Dollar amount to be paid by the Company to the Trustee and by the Trustee or any Paying Agent to the Holders of such Securities with
respect to such payment date shall be, in the case of a Foreign Currency other than a currency unit, the Dollar Equivalent of the Foreign Currency or, in the case of a currency unit, the Dollar
Equivalent of the Currency Unit, in each case as determined by the Exchange Rate Agent in the manner provided in paragraph (f) or (g) below. 

        (e)   Unless
otherwise specified pursuant to Section 3.01, if the Holder of a Registered Security denominated in any Currency shall have elected to be paid in another
Currency as provided in paragraph (b) above, and a Conversion Event occurs with respect to such elected Currency, such Holder shall receive payment in the Currency in which payment would
have been made in the absence of such election; and if a Conversion Event occurs with respect to the Currency in which payment would have been made in the absence of such election, such Holder shall
receive payment in Dollars as provided in paragraph (d) above. 

        (f)    The
"Dollar Equivalent of the Foreign Currency" shall be determined by the Exchange Rate Agent and shall be obtained for each subsequent payment date by converting the
specified Foreign Currency into Dollars at the Market Exchange Rate on the Conversion Date. 

        (g)   The
"Dollar Equivalent of the Currency Unit" shall be determined by the Exchange Rate Agent and subject to the provisions of paragraph (h) below shall be the sum
of each amount obtained by converting the Specified Amount of each Component Currency into Dollars at the Market Exchange Rate for such Component Currency on the Valuation Date with respect to each
payment. 

        (h)   For
purposes of this Section 3.12 the following terms shall have the following meanings: 

        A
"Component Currency" shall mean any Currency which, on the Conversion Date, was a component Currency of the relevant Currency unit. 

        A
"Specified Amount" of a Component Currency shall mean the number of units of such Component Currency or fractions thereof which were represented in the relevant Currency unit on the
Conversion Date. If, after the Conversion Date, the official unit of any Component Currency is altered by way of combination or subdivision, the Specified Amount of such Component Currency shall be
divided or multiplied in the same proportion. If after the Conversion Date two or more Component Currencies are consolidated into a single currency, the respective Specified Amounts of such Component
Currencies shall be replaced by an amount in such single Currency equal to the sum of the respective Specified Amounts of such consolidated Component Currencies expressed in such single Currency, and
such amount shall thereafter be a Specified Amount and such single Currency shall thereafter be a Component Currency. If, after the Conversion Date, any Component Currency shall be divided into two or
more Currencies, the Specified Amount of such Component Currency shall be replaced by amounts of such two or more Currencies, having an aggregate Dollar Equivalent value at the Market Exchange Rate on
the date of such replacement equal to the Dollar Equivalent value of the Specified Amount of such former Component Currency at the Market Exchange Rate immediately before such division and such
amounts shall thereafter be Specified Amounts and such Currencies shall thereafter be Component Currencies. If, after the Conversion Date of the relevant Currency unit, a Conversion Event (other than
any event referred to above in this definition of Specified Amount) occurs with respect to any Component Currency of such Currency unit and is continuing on the applicable Valuation Date, the
Specified Amount of such Component Currency shall, for purposes of calculating the Dollar Equivalent of the Currency Unit, be converted into Dollars at the Market Exchange Rate in effect on the
Conversion Date of such Component Currency. 

40

  

        "Election Date" shall mean the date, which shall be no later than 10 Business Days prior to the applicable payment date, for any series of Registered Securities as specified pursuant to
clause (15) of Section 3.01 by which the written election referred to in paragraph (b) above may be made. 

        All
decisions and determinations of the Exchange Rate Agent regarding the Dollar Equivalent of the Foreign Currency, the Dollar Equivalent of the Currency Unit, the Market Exchange Rate
and changes in the Specified Amounts as specified above shall be in its sole discretion and shall, in the absence of manifest error, be conclusive for all purposes and irrevocably binding upon the
Company, the Trustee and all Holders of such Securities denominated or payable in the relevant Currency. The Exchange Rate Agent shall promptly give written notice to the Company and the Trustee of
any such decision or determination. 

        In
the event that the Company determines in good faith that a Conversion Event has occurred with respect to a Foreign Currency, the Company will immediately give written notice thereof
to the Trustee and to the Exchange Rate Agent (and the Trustee will promptly thereafter give notice in the manner provided for in Section 1.06 to the affected Holders) specifying the
Conversion Date. In the event the Company so determines that a Conversion Event has occurred with respect to any Currency unit in which Securities are denominated or payable, the Company will
immediately give written notice thereof to the Trustee and to the Exchange Rate Agent (and the Trustee will promptly thereafter give notice in the manner provided for in Section 1.06
to the affected Holders) specifying the Conversion Date and the Specified Amount of each Component Currency on the Conversion Date. In the event the Company determines in good faith that any
subsequent change in any Component Currency as set forth in the definition of Specified Amount above has occurred, the Company will similarly give written notice to the Trustee and the Exchange Rate
Agent. 

        The
Trustee shall be fully justified and protected in relying and acting upon information received by it from the Company and the Exchange Rate Agent and shall not have any duty or
obligation to determine the accuracy or validity of such information independent of the Company or the Exchange Rate Agent. 

41

 

        Section 3.13.
Appointment and Resignation of Successor Exchange Rate Agent. 

        (a)   Unless
otherwise specified pursuant to Section 3.01, if and so long as the Securities of any series (i) are denominated in a Currency other than Dollars or
(ii) may be payable in a Currency other than Dollars, or so long as it is required under any other provision of this Indenture, then the Company will maintain with respect to each such series
of Securities, or as so required, at least one Exchange Rate Agent. The Company will cause the Exchange Rate Agent to make the necessary foreign exchange determinations at the time and in the manner
specified pursuant to Section 3.01 for the purpose of determining the applicable rate of exchange and, if applicable, for the purpose of converting the issued Currency into the
applicable payment Currency for the payment of principal (and premium, if any) and interest, if any, pursuant to Section 3.12. 

        (b)   The
Company shall have the right to remove and replace from time to time the Exchange Rate Agent for any series of Securities. No resignation or removal of the Exchange
Rate Agent and no appointment of a successor Exchange Rate Agent pursuant to this Section shall become effective until the acceptance of appointment by the successor Exchange Rate Agent as evidenced
by a written instrument delivered to the Company and the Trustee. 

        (c)   If
the Exchange Rate Agent shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of the Exchange Rate Agent for any cause
with respect to the Securities of one or more series, the Company, by or pursuant to a Board Resolution, shall promptly appoint a successor Exchange Rate Agent or Exchange Rate Agents with respect to
the Securities of that or those series (it being understood that any such successor Exchange Rate Agent may be appointed with respect to the Securities of one or more or all of such series and that,
unless otherwise specified pursuant to Section 3.01, at any time there shall only be one Exchange Rate Agent with respect to the Securities of any particular series that are originally issued
by the Company on the same date and that are initially denominated and/or payable in the same Currency). 

        Section 3.14.
CUSIP Numbers. 

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

42

 
 
 

ARTICLE 4
  
    SATISFACTION AND DISCHARGE    
    

        Section 4.01.
Satisfaction and Discharge of Indenture. 

        This
Indenture shall upon Company Request cease to be of further effect with respect to any series of Securities specified in such Company Request (except as to any surviving rights of
registration of transfer or exchange of Securities of such series expressly provided for herein or pursuant hereto and any right to receive Additional Amounts as contemplated by Section 10.05)
and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture as to such series when 

        (1)   either

        (A)  all
Securities of such series theretofore authenticated and delivered and all coupons, if any, appertaining thereto (other than (i) coupons appertaining to Bearer
Securities surrendered for exchange for Registered Securities and maturing after such exchange, whose surrender is not required or has been waived as provided in Section 3.05,
(ii) Securities and coupons of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.06, (iii) coupons appertaining
to Securities called for redemption and maturing after the relevant Redemption Date, whose surrender has been waived as provided in Section 11.06, and (iv) Securities and coupons of such
series for whose payment money has theretofore been deposited in trust with the Trustee or any Paying Agent or segregated and held in trust by the Company and thereafter repaid to the Company, as
provided in Section 10.03) have been cancelled and delivered to the Trustee or delivered to the Trustee for cancellation; or 

        (B)  all
Securities of such series and, in the case of (i) or (ii) below, any coupons appertaining thereto not theretofore delivered to the Trustee for
cancellation 

        (i)    have
become due and payable, or 

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

        (iii)  if
redeemable at the option of the Company, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company, 

and
the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose an amount in the
Currency in which the Securities of such series are payable, sufficient, without reinvestment, to pay and discharge the entire indebtedness on such Securities and coupons not theretofore cancelled and
delivered to the Trustee or delivered to the Trustee for cancellation, for principal (and premium, if any) and interest, if any, to the date of such deposit (in the case of Securities which have
become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 

43

 

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

        (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 this Indenture as to such series have been complied with. 

        Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.07, the obligations of the Trustee to any
Authenticating Agent under Section 6.13 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of the
Trustee under Section 4.02 and the last paragraph of Section 10.03 shall survive. 

        Section 4.02.
Application of Trust Money. 

        Subject
to the provisions of the last paragraph of Section 10.03, all money and securities deposited with the Trustee pursuant to Section 4.01 shall be held in trust and
applied by it, in accordance with the provisions of the Securities, the coupons and this Indenture, 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 (and premium, if any) and interest, if any, for whose payment such money and securities has been deposited
with the Trustee, but such money need not be segregated from other funds except to the extent required by law. 

        All
moneys and securities deposited with the Trustee pursuant to Section 4.01 (and held by it or any Paying Agent) for the payment of Securities subsequently converted
shall be returned to the Company upon a Company Request. 

 
 

ARTICLE 5
  
    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), except to the extent such event is specifically deleted or modified as contemplated by Section 3.01 for the Securities of that series: 

44

 

        (1)   default
in the payment of any interest on any Security of that series, or any related coupon, when such interest or coupon 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 (excluding a Maturity arising from a call for redemption
through operation of any sinking fund); or 

        (3)   default
in the deposit of any sinking fund payment, when and as due by the terms of the Securities of that series, and continuance of such default for a period of
30 days; or 

        (4)   with
respect to a series of Securities, default in the performance, or breach, of any covenant, agreement or warranty of the Company in the Securities of such series or
in this Indenture (other than a covenant, agreement or warranty a default in the performance or breach of which is specifically dealt with elsewhere in this Section or which has expressly been
included in this Indenture solely for the benefit of a series of Securities other than that series or which has been included in this Indenture but expressly made not applicable to the Securities of
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 aggregate 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
entry of a decree or order by a court having jurisdiction in the premises adjudging the Company bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under the Federal Bankruptcy Code or any other applicable federal or state law, or appointing a receiver,
liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the
continuance of any such decree or order unstayed and in effect for a period of 90 consecutive days; or 

        (6)   the
institution by the Company of proceedings to be adjudicated bankrupt or insolvent, or the consent by it to the institution of bankruptcy or insolvency proceedings
against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under the Federal Bankruptcy Code or any other applicable federal or state law, or the consent by it
to the filing of any such petition or to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or of any substantial part of its
property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due; or 

        (7)   any
other Event of Default provided with respect to Securities of that series. 

45

 

        Section 5.02.
Acceleration of Maturity; Rescission and Annulment. 

        If
an Event of Default described in clause (1), (2), (3), (4) or (7) of Section 5.01 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 or Indexed 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 thereof) shall become immediately due and payable. If an Event of Default specified in Section 5.01(5) or 5.01(6) occurs and is continuing, then the principal amount of all the
Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 

        At
any time after a declaration of acceleration with respect to Securities of any series (or of all series, as the case may be) has been made and before a judgment or decree for payment
of the money due has been obtained by the Trustee as hereinafter provided in this Article, the Holders of a majority in principal amount of the Outstanding Securities of that series (or of all series,
as the case may be), 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 in the Currency in which the Securities of such series are payable (except as otherwise
specified pursuant to Section 3.01 for the Securities of such series and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e): 

        (A)  all
overdue interest, if any, on all Outstanding Securities of that series (or of all series, as the case may be) and any related coupons, 

        (B)  all
unpaid principal of (and premium, if any, on) any Outstanding Securities of that series (or of all series, as the case may be) which has become due otherwise than by
such declaration of acceleration, and interest on such unpaid principal at the rate or rates prescribed therefor in such Securities, 

        (C)  to
the extent lawful, interest on overdue interest, if any, at the rate or rates 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 any
other amounts due to the Trustee under Section 6.07; and 

        (2)   all
Events of Default with respect to Securities of that series (or of all series, as the case may be), other than the non-payment of amounts of principal of (or
premium, if any, on) or interest on Securities of that series (or of all series, as the case may be) which have become due solely by such declaration of acceleration, have been cured or waived as
provided in Section 5.13. 

46

 

No
such rescission and annulment 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 and any related coupon 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 at the Maturity thereof, or 

        (3)   default
is made in the payment of any sinking or purchase fund or analogous obligation when the same becomes due by the terms of the Securities of any series, and any
such default continues for any period of grace provided with respect to the Securities of such series, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holder of any
such Security and coupon (or the Holders of any such series), the whole amount then due and payable on any such Security and coupon (or on the Securities and coupons of any such series) for principal
and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or
rates prescribed therefor by the terms of any such Security (or of Securities of any such series); 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 and any other amounts due to the Trustee under Section 6.07. 

        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 (or of all series, as the case may be) 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 (or of all series, as the case may be) 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. 

47

 

        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 or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal,
premium, if any, 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 (and premium, if any), or such portion of the principal amount of any series of Original Issue Discount
Securities or Indexed Securities as may be specified in the terms of such series, and interest, if any, 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 any other amounts due to the Trustee under Section 6.07) 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 6.07. 

        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 or coupons may be prosecuted and enforced by the Trustee without the possession of any of the Securities or coupons
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, and any other amounts due to the Trustee
under Section 6.07 be for the ratable benefit of the Holders of the Securities and coupons in respect of which such judgment has been recovered. 

48

 

        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, if any, upon presentation of the Securities or coupons, or both, as the case may be, 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 6.07; 

        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 and coupons 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 and coupons for principal (and premium,
if any) and interest, if any, respectively; and 

        Third:
The balance, if any, to the Person or Persons entitled thereto. 

        Except
as provided in Section 3.12, in any case where Securities are Outstanding which are denominated in more than one Currency, or in a composite Currency and at least one other
Currency, and the Trustee is directed to make ratable payments under this Section to Holders of Securities, the Trustee shall calculate the amount of such payments as follows: (i) as of the day
the Trustee collects an amount under this Article, the Trustee shall, as to each Holder of a Security to whom an amount is due and payable under this Section which is denominated in a Foreign Currency
or a composite Currency, determine that amount of Dollars that would be obtained for the amount owing such Holder, using the Market Exchange Rate, as determined by the Exchange Rate Agent;
(ii) calculate the sum of all Dollar amounts determined under (i) and add thereto any amounts due and payable in Dollars; and (iii) using the individual amounts determined in
(i) or any individual amounts due and payable in Dollars, as the case may be, as a numerator and the sum calculated in (ii) as a denominator, calculate as to each Holder of a Security to
whom an amount is owed under this Section the fraction of the amount collected under this Article payable to such Holder. Any expenses incurred by the Trustee in actually converting amounts owing
Holders of Securities denominated in a Currency or composite Currency other than that in which any amount is collected under this Article shall be likewise (in accordance with this paragraph) borne
ratably by all Holders of Securities to whom amounts are payable under this Section. 

        Section 5.07.
Limitation on Suits. 

        No
Holder of any Security of any series or any related coupons 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)   such
Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that series; 

49

 

        (2)   the
Holders of not less than 25% in principal amount of the Outstanding Securities of that series in the case of any Event of Default described in clause (1),
(2), (3), (4) or (7) of Section 5.01, or, in the case of any Event of Default described in clause (5) or (6) of Section 5.01, the Holders of not less than 25% in
principal amount of all Outstanding Securities, 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 or more in principal amount of
the Outstanding Securities of that series in the case of any Event of Default described in clause (1), (2), (3), (4) or (7) of Section 5.01, or, in the case of any Event of
Default described in clause (5) or (6) of Section 5.01, by the Holders of a majority or more in principal amount of all Outstanding Securities; 

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 Holders of Securities of the same series, in the case of any Event of Default described in clause (1), (2), (3), (4) or (7) of Section 5.01,
or of Holders of all Outstanding Securities in the case of any Event of Default described in clause (5) or (6) of Section 5.01, or to obtain or to seek to obtain
priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all Holders of
Securities of the same series, in the case of any Event of Default described in clause (1), (2), (3), (4) or (7) of Section 5.01, or of Holders of all Outstanding
Securities in the case of any Event of Default described in clause (5) or (6) of Section 5.01. 

        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 or coupon shall have the right, which is absolute and unconditional, to receive payment, as provided
herein (including, if applicable, Article 14) and in such Security, of the principal of (and premium, if any) and (subject to Section 3.07) interest, if any, on, such Security or
payment of such coupon on the respective Stated Maturity or Maturities expressed in such Security or coupon (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. 

50

 

        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 of Securities and
coupons 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 or coupons in the last paragraph of Section 3.06, no
right or remedy herein conferred upon or reserved to the Trustee or to the Holders of Securities or coupons 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 or coupon 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. 

        With
respect to the Securities of any series, the Holders of not less than a majority in principal amount of the Outstanding Securities of such 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, relating to or arising under clause (1),
(2), (3), (4) or (7) of Section 5.01, and, with respect to all Outstanding Securities, the Holders of not less than a majority in principal amount of all Outstanding Securities 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, not relating to or
arising under clause (1), (2), (3), (4) or (7) of Section 5.01, provided that in each case: 

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

51

 

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

        (3)   the
Trustee need not take any action which might expose it to personal liability or be unjustly prejudicial to the Holders not joined therein; and 

        (4)   such
direction shall be presented by such Holders to the Trustee in a timely manner. 

        Section 5.13.
Waiver of Past Defaults. 

        Subject
to Section 5.02, 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 described in clause (1), (2), (3), (4) or (7) of Section 5.01 (and, in the case of a default described in clause (5) or (6) of
Section 5.01, the Holders of not less than a majority in principal amount of all Outstanding Securities) may waive any such past default in each case and its consequences, except a default: 

        (1)   in
respect of the payment of the principal of (or premium, if any) or interest, if any, on any Security or any related coupon, or 

        (2)   in
respect of a covenant or provision hereof which under Article 9 cannot be modified or amended without the consent of the Holder of each Outstanding Security of
such series affected. 

        Upon
any such waiver, any such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no
such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. 

        Section 5.14.
Waiver of Stay or Extension and Usury Laws. 

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

52

 

        Section 5.15.
Undertaking for Costs. 

        All
parties to this Indenture agree, and each Holder of any Security by his or her acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any
suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in
such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys' fees, against any party litigant in such
suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided, that the provisions of this Section 5.15 shall not apply to any suit
instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities, or to any suit
instituted by any Holder for the enforcement of the payment of any amount owed in respect of any Security or coupon on or after the due date expressed in such Security or coupon or to any suit for the
enforcement of the right to convert any Security in accordance with the provisions of Section 3.01. 

 
 

ARTICLE 6
  
    THE TRUSTEE    
    

        Section 6.01. Certain Duties and Responsibilities. 

        (a)   Except
during the continuance of an Event of Default with respect to Securities of any series: 

        (i)    the
Trustee undertakes to perform, with respect to Securities of such series, 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 

        (ii)   in
the absence of bad faith on its part, the Trustee may, with respect to Securities of any series, 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. 

        (b)   If
an Event of Default with respect to Securities of any series has occurred and is continuing, the Trustee shall exercise, with respect to Securities of such series,
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: 

53

 

        (i)    this
subsection shall not be construed to limit the effect of subsection (a) of this Section; 

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

        (iii)  the
Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a
majority in principal amount of the Outstanding Securities of any series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any
trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series; and 

        (iv)  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 therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the
Trustee shall be subject to the 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 in the manner and to the extent provided in
Trust Indenture Act Section 313(c), notice of such Default hereunder known to 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, and related coupons, on any Security of such series or in the payment of any sinking fund installment with respect to Securities of such series, the Trustee shall be
protected in withholding such notice if and so long as the board of directors, the executive committee or a committee of directors and/or Responsible Officers of the Trustee in good faith determine
that the withholding of such notice is in the interest of the Holders of such series and any related coupons; and provided further that in the case of any Default of the character specified in
Section 5.01(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. 

        Section
6.03. Certain Rights of Trustee. 

        Subject
to the provisions of Trust Indenture Act Sections 315(a) through 315(d): 

        (1)   the
Trustee may rely and shall be protected in acting or refraining from acting upon any statutory declaration, resolution, certificate, statement, instrument, opinion,
report, notice, request, direction, consent, order, bond, debenture, note, coupon, 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; 

54

 

        (2)   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 shall be sufficiently evidenced by a Board Resolution; 

        (3)   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; 

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

        (5)   the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders of any
series or any related coupons 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; 

        (6)   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, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the
Company, personally or by agent or attorney; 

        (7)   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 appointed with due care by it hereunder; 

        (8)   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
(a) a Responsible Officer of the Trustee assigned to Institutional Trust Services (or any successor division or department of the Trustee) shall have actual knowledge of the Event of Default or
(b) 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; and 

55

 

        (9)   the
Trustee shall not be liable for any action taken, suffered 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. 

        Section
6.04. Trustee Not Responsible for Recitals or Issuance of Securities. 

        The
recitals contained herein and in the Securities, except for the Trustee's certificates of authentication, and in any coupons 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 or coupons, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that
the statements made by it in a Statement of Eligibility on Form T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. 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, any Security Registrar or any other agent of the Company or of the Trustee, in its individual or any other capacity, may become
the owner or pledgee of Securities and coupons and, subject to Trust Indenture Act Sections 310(b) and 311, 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. 

        The
Trustee may become and act as trustee under other indentures under which other securities, or certificates of interest or participation in other securities, of the Company are
outstanding in the same manner as if it were not Trustee hereunder. 

        Section
6.06. Money Held in Trust. 

        Money
held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no 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 and each Authenticating Agent 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 and any Authenticating Agent), except any
such expense, disbursement or advance as may be attributable to its negligence or bad faith; and 

56

 

        (3)   to
indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on its 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 itself against any claim or liability in connection with the exercise
or performance of any of its powers or duties hereunder. 

        The
obligations of the Company under this Section to compensate the Trustee, to pay or reimburse the Trustee for expenses, disbursements and advances and to indemnify and hold harmless
the Trustee shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture or, for all periods up to the date of resignation, the resignation of
the Trustee pursuant to Section 6.09 hereof. As security for the performance of such obligations of the Company, 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 of (or premium, if any) or interest, if any, on particular Securities or coupons. 

        When
the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 5.01(5) or (6), the expenses (including reasonable charges
and expense of its counsel) of and the compensation for such services are intended to constitute expenses of administration under any applicable federal or state bankruptcy, insolvency or other
similar law. 

        The
provisions of this Section shall survive the termination of this Indenture or the resignation of the Trustee pursuant to Section 6.09 hereof. 

        "Trustee"
for purposes of this Section 6.07 shall include any predecessor Trustee but the willful misconduct, negligence or bad faith of any Trustee shall not affect the rights of
any other Trustee under this Section 6.07. 

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

        (a)   There
shall be at all times a Trustee hereunder which shall be eligible to act as Trustee under Trust Indenture Act Section 310(a)(1) and shall have a
combined capital and surplus of at least $50,000,000. If such Person publishes reports of condition at least annually, pursuant to law or to the requirements of federal, state, territorial or District
of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Person 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 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 hereinafter specified in this Article. 

        (b)   The
indenture, dated as of August 1, 2000, between the Company and JP Morgan Chase Bank (formerly The Chase Manhattan Bank), as trustee, relating to the issuance
of Liquid Yield Option Notes due 2020 shall be deemed to be specifically described herein for the purposes of clause (i) of the first proviso contained in Trust Indenture Act
Section 310(b). 

57

 

        Section
6.09. Resignation and Removal; Appointment of Successor. 

        (a)   No
resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by
the successor Trustee in accordance with the applicable requirements of Section 6.10. 

        (b)   The
Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance
by a successor Trustee required by Section 6.10 shall not have been delivered to the Trustee within 30 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 not less than 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: 

        (1)   the
Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 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 cease to be eligible under Section 6.08(a) 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 

        (3)   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 Trust Indenture Act Section 315(e), any
Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all other similarly situated Holders, 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. 

        (e)   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). 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 6.09, become the successor Trustee with respect to the Securities of such
series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or
the Holders and accepted appointment in the manner hereinafter provided, 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. 

58

 

        (f)    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 to the Holders of such series in the manner provided for in Section 1.06. 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 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, 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; provided, that such property and money shall continue to be
subject to any lien in favor of the retiring Trustee provided for in Section 6.07. 

        (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 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
of 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 to be deemed 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, unless contemplated otherwise by a supplemental indenture, all property and money held by such retiring Trustee hereunder, subject
nevertheless to its lien provided for in Section 6.07 with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. Whenever there is a
successor Trustee with respect to one or more (but less than all) series of Securities issued pursuant to this Indenture, the terms "Indenture" and "Securities" shall have the meanings specified in
the provisos to the respective definitions of those terms in Section 1.01 which contemplate such situation. 

59

 

        (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 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, Amalgamation, Conversion, Consolidation or Succession to Business. 

        Any
Person into which the Trustee may be merged, amalgamated, or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to
which the Trustee shall be a party, or any Person succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
Person 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, amalgamation, 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. In case any of the Securities shall not have been
authenticated by such predecessor Trustee, any successor Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor Trustee. In all such
cases such certificates shall have the full force and effect which this Indenture provides for the certificate of authentication of the Trustee;  provided, however, that the right to adopt the certificate of authentication of any predecessor Trustee
or to authenticate Securities in the name of any predecessor Trustee shall apply only to its successor or successors by merger, amalgamation, conversion or consolidation. 

60

  

        Section 6.12. Section Preferential Collection of Claims Against Company. 

        If
and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of Section 311 of
the Trust Indenture Act and any other provision of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor). 

        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 Securities of such series issued upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.06
and the Trustee shall give written notice of such appointment to all Holders of the series with respect to which such Authenticating Agent will serve, in the manner provided for in
Section 1.06. Securities so authenticated 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.
Any such appointment shall be evidenced by an instrument in writing signed by a Responsible Officer of the Trustee, and a copy of such instrument shall be promptly furnished to the Company. 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 corporation organized and doing business 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 $50,000,000 and subject to supervision or examination by federal, state or District of
Columbia authority. If such corporation 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 corporation 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, it shall resign immediately in the manner and with the effect specified in this Section. 

        Any
corporation into which an Authenticating Agent may be merged, amalgamated or converted or with which it may be consolidated, or any corporation resulting from any merger,
amalgamation, 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. 

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        An
Authenticating Agent may resign 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 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 give written notice of such appointment to all Holders of the series with respect to which such Authenticating Agent will serve, in the manner provided for in Section 1.06. 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
provisions of Sections 3.09, 6.04 and 6.05 shall be applicable to each Authenticating Agent. 

        If
an appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee's certificate
of authentication, an alternate certificate of authentication in the following form: 

        Dated:
                                         
   

        This
is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

	 	 	JPMORGAN CHASE BANK,

as Trustee
	
 	
 	

By	

 
	 	 	 	
 as Authenticating Agent
	
 	
 	

By	

 
	 	 	 	
 Authorized Officer

 
 

ARTICLE 7
  
    HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY    
    

        Section 7.01. Company to Furnish Trustee Names and Addresses of Holders. 

        The
Company will furnish or cause to be furnished to the Trustee (1) not more than 7 days after each Regular Record Date a list, in such form as the Trustee may reasonably
require, of the names and addresses of Holders as of such Regular Record Date; provided, however, that
the Company shall not be obligated to furnish or cause to be furnished such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the
Company and at such times as the Trustee is acting as Security Registrar for the applicable series of Securities and (2) at such other times as the Trustee may request in writing, within
30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished. 

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        Section
7.02. Preservation of List of Names and Addresses of Holders. 

        (a)   The
Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the Holders contained in the most recent
list furnished to it as provided in Section 7.01 and as to the names and addresses of Holders received by the Trustee in its capacity as Security Registrar for the applicable series of
Securities (if acting in such capacity). 

        (b)   The
Trustee may destroy any list furnished to it as provided in Section 7.01 upon receipt of a new list so furnished. 

        (c)   Holders
may communicate as provided in Section 312(b) of the Trust Indenture Act with other Holders with respect to their rights under this Indenture or under the
Securities. 

        Section
7.03. Disclosure of Names and Addresses of Holders. 

        Every
Holder of Securities or coupons, by receiving and holding the same, agrees with the Company and the Trustee that none of the Company or the Trustee or any agent of either of them
shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders in accordance with Trust Indenture Act Section 312, regardless of the
source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Trust Indenture Act Section
312(b). 

        Section
7.04. Reports by Trustee. 

        Within
60 days after May 15 of each year commencing with the first May 15 after the first issuance of Securities pursuant to this Indenture, the Trustee shall
transmit to the Holders, in the manner and to the extent provided in Trust Indenture Act Section 313(c), a brief report dated as of such May 15 if required by Trust Indenture Act
Section 313(a). 

        Section
7.05. Reports by Company. 

        The
Company shall file with the Trustee and the Commission, and transmit to Holders, such information, documents and other reports, if any, and such summaries thereof, as may be required
pursuant to the Trust Indenture Act at the times and in the manner provided pursuant to such Trust Indenture Act; provided that any such information, documents or reports required to be filed with the
Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is so required to be filed with the Commission. 

63

 
 
 

ARTICLE 8
  
    CONSOLIDATION, AMALGAMATION, MERGER,
  CONVEYANCE, TRANSFER OR LEASE    
    

        Section 8.01. Company May Consolidate, etc., Only on Certain Terms. 

        Unless
otherwise provided in a supplemental indenture with respect to a particular series of Securities, the Company shall not consolidate or amalgamate with or merge into or enter into
any statutory arrangement with any other Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, unless: 

        (a)   the
Person formed by such consolidation or amalgamation or into which the Company is merged or the Person which acquires by conveyance or transfer, or which leases, the
properties and assets of the Company substantially as an entirety (i) shall be a corporation, partnership or trust organized and validly existing under the laws of Canada or any province or
territory thereof, the United States, any state thereof or the District of Columbia and (ii) shall expressly assume, by an indenture supplemental hereto, executed and delivered to the
Trustee, in form satisfactory to the Trustee, the Company's obligation for the due and punctual payment of the principal of (and premium, if any) and interest, if any, on all the Securities and the
performance and observance of every covenant of this Indenture on the part of the Company to be performed or observed; 

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

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

        The
requirements of paragraphs (a) and (b) of this Section 8.01 shall not apply to (1) any merger, amalgamation or consolidation in which the Company is the
surviving corporation or (2) any sale, conveyance, transfer, lease or other disposition of the Company's assets to a direct or indirect wholly owned Subsidiary of the Company. 

        Section
8.02. Successor Person Substituted. 

        Upon
any consolidation or amalgamation by the Company with or merger by the Company into any other Person or any conveyance, transfer or lease of the properties and assets of the Company
substantially as an entirety to any Person in accordance with Section 8.01, the successor Person formed by such consolidation or amalgamation or into which the Company is merged or to which
such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such
successor Person had been named as the Company herein, and thereafter the Company (which term shall for this purpose mean the Person named as the "Company" in the first paragraph of this Indenture or
any successor Person which shall theretofore become such in the manner described in Section 8.01), except in the case of a lease, shall be discharged of all obligations and covenants under this
Indenture and the Securities and the coupons and may be dissolved and liquidated. 

64

 

        Upon
any transaction referred to in Section 8.01, the assumption of the Company's obligations by such successor person referred to in the preceding paragraph shall be and be
deemed to be a novation of the Securities. In the event of any such novation, except in the case of a lease of all or substantially all of the assets of the Company, the Company shall be discharged
from all of its obligations and covenants under this Indenture and the Securities. The Company, the Trustee and such successor Person shall enter into a supplemental indenture to evidence the novation
of the Securities, the succession and substitution of such successor Person and such discharge and release of the Company. In addition, in case of any such novation, such changes in phraseology and
form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 

        Section
8.03. No Consent or Approval Required. 

        To
the greatest extent permitted by law, no approval or consent of the Holders is required in connection with any consolidation, amalgamation or merger involving the Company, or any sale
or conveyance to another Person of all or substantially all the assets of the Company, or any change in the conversion rate or exchange rate of any series of Securities in each case in accordance with
the provisions of Section 3.01, or the property deliverable upon conversion of the Securities, whether as a result of any of the events referred to in Section 8.01
or otherwise under the terms of this Indenture. 

 
 

ARTICLE 9
  
    SUPPLEMENTAL INDENTURES    
    

        Section 9.01. Supplemental Indentures Without Consent of Holders. 

        Without
the consent of any Holders, the Company, when authorized by or pursuant to 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 Person to the Company and the assumption by any such successor of the covenants of the Company contained herein and in the
Securities and coupons; or 

65

 

        (2)   to
add to the covenants of the Company for the benefit of the Holders of all or any series of Securities and any related coupons (and if such covenants are to be for the
benefit of less than all series of Securities, stating that such covenants are being included solely for the benefit of the specified series) or to surrender any right or power herein conferred upon
the Company; or 

        (3)   to
add any additional Events of Default (and if such Events of Default are to be for the benefit of less than all series of Securities, stating that such Events of
Default are being included solely for the benefit of the specified series); or 

        (4)   to
add to or change any of the provisions of this Indenture to provide that Bearer Securities may be registrable as to principal, to change or eliminate any restrictions
on the payment of principal of (or premium, if any) or interest on Bearer Securities, to permit Bearer Securities to be issued in exchange for Registered Securities, to permit Bearer Securities to be
issued in exchange for Bearer Securities of other authorized denominations or to permit or facilitate the issuance of Securities in uncertificated form; provided that any such action shall not
adversely affect the interests of the Holders of any series or any related coupons in any material respect; 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
establish the form or terms of Securities of any series and any related coupons as permitted by Sections 2.01 and 3.01; or 

        (7)   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 6.10(b); or 

        (8)   to close
this Indenture with respect to the authentication and delivery of additional series of Securities, to cure any ambiguity, to correct or supplement any
provision herein which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture; provided
such other provisions shall not be inconsistent with the provisions in this Indenture or adversely affect the interests of the Holders of any series and any related coupons in any material respect; or 

        (9)   to
supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance and discharge of any series of
Securities pursuant to Sections 4.01, 14.02 and 14.03; provided that any such action shall not adversely affect the interests of the Holders of such series and any related coupons or any other
series of Securities in any material respect; or 

66

 

        (10) to
modify or amend this Indenture in such a manner as to permit the qualification of this Indenture or any supplemental indenture under the Trust Indenture Act, the
Business Corporations Act (Ontario) and/or any other applicable laws governing trust indentures, in each case as then in effect; or 

        (11) to
add guarantees with respect to any or all of the Securities or to secure any or all of the Securities; or 

        (12) to
make any changes that does not adversely affect the rights of any Holder. 

        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 all Outstanding Securities of each series affected by such supplemental indenture, by Act of said
Holders delivered to the Company and the Trustee, the Company, when authorized by or pursuant to 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 which affect such series of Securities or of modifying in any manner the rights
of the Holders of such series and any related coupon under this Indenture; provided, however, that no
such supplemental indenture shall, without the consent of the Holder of each Outstanding Security of such series: 

        (1)   change
the Stated Maturity of the principal of (or premium, if any) or any installment of principal of or interest on any Security of such series, or reduce the
principal amount thereof (or premium, if any) or the rate of interest, if any, thereon, or change the method of calculating the rate of interest thereon, or change any obligation of the Company to pay
Additional Amounts contemplated by Section 10.05 (except as contemplated by Section 8.01(1) and permitted by Section 9.01(1)), or reduce the amount of the principal
of an Original Issue Discount Security of such series that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02 or the amount
thereof provable in bankruptcy pursuant to Section 5.04, or adversely affect any right of repayment at the option of any Holder of any Security of such series, or change any Place of
Payment where, or the Currency in which, any Security of such series or any premium or 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 or repayment at the option of the Holder, on or after the Redemption Date or Repayment Date, as the case may be), or adversely affect
any right to convert or exchange any Security as may be provided pursuant to Section 3.01, or 

        (2)   reduce
the percentage in principal amount of the Outstanding Securities of such series the consent of whose Holders is required for any modification, supplement or
amendment of this Indenture or for any waiver of compliance with certain provisions of this Indenture which affect such series or certain defaults applicable to such series hereunder and their
consequences provided for in this Indenture, or reduce the requirements of Section 15.04 for quorum or voting with respect to Securities of such series, or 

67

 

        (3)   modify
any of the provisions of this Section, Section 5.13 or Section 10.08, except to increase any such percentage or to provide that certain other
provisions of this Indenture which affect such series cannot be modified or waived without the consent of the Holder of each Outstanding Security of such series. 

        Any
supplemental indenture adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture which has expressly been included solely for the
benefit of one or more particular series of Securities, or modifying in any manner the rights of the Holders of Securities of one or more particular series, shall not affect the rights under this
Indenture of the Holders of Securities of any other series. 

        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 entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by
this Indenture. The Trustee 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 under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of
this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder and of any coupons appertaining thereto shall be bound thereby. To the
extent any terms of a supplemental indenture relating to a series of Securities are contrary to or duplicative of terms contained in this Indenture, the terms of such supplemental indenture shall be
deemed to supersede this Indenture solely with respect to the Securities issued pursuant to such supplemental indenture. 

        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 as then in effect. 

68

 

        Section
9.06. Reference in Securities to Supplemental Indentures. 

        Securities
of any series 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 Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of
such series. 

        Section
9.07. Notice of Supplemental Indentures. 

        Promptly
after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of Section 9.02, the Company shall give notice thereof to the
Holders of each Outstanding Security affected, in the manner provided for in Section 1.06, setting forth in general terms the substance of such supplemental indenture. 

 
 

ARTICLE 10
  
    COVENANTS    
    

        Section 10.01. Payment of Principal, Premium, if any, and Interest. 

        The
Company covenants and agrees for the benefit of the Holders of each series of Securities and any related coupons that it will duly and punctually pay the principal of (and premium,
if any) and interest, if any, on the Securities of that series in accordance with the terms of the Securities, any coupons appertaining thereto and this Indenture. Unless otherwise specified as
contemplated by Section 3.01 with respect to any series of Securities, any interest installments due on Bearer Securities on or before Maturity shall be payable only upon presentation and
surrender of the several coupons for such interest installments as are evidenced thereby as they severally mature. 

        Section
10.02. Maintenance of Office or Agency. 

        If
the Securities of a series are issuable only as Registered Securities, the Company will maintain in each Place of Payment for such 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, where Securities of that series that
are convertible or exchangeable may be surrendered for conversion or exchange, as applicable, 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 hereby initially appoints the Trustee its office or agency for each of said purposes. 

        If
Securities of a series are issuable as Bearer Securities, the Company will maintain (A) in The City of New York, an office or agency where any Bearer Securities of that
series may be presented or surrendered for payment, where any Registered Securities of that series may be surrendered for registration of transfer, where Securities of that series may be surrendered
for exchange, where Securities of that series that are convertible or exchangeable may be surrendered for conversion or exchange, as applicable, where notices and demands to or upon the Company in
respect of the Securities of that series and this Indenture may be served and where Bearer Securities of that series and related coupons may be presented or surrendered for payment in the
circumstances described in the following paragraph (and not otherwise), (B) subject to any laws or regulations applicable thereto, a Place of Payment for that series which is located outside
the United States, an office or agency where Securities of that series and related coupons may be presented and surrendered for payment;  provided, however, that, if the Securities of that series are listed on any stock exchange located
outside the United States and such stock exchange shall so require, the Company will maintain a Paying Agent for the Securities of that series in any required city located outside the
United States so long as the Securities of that series are listed on such exchange, and (C) subject to any laws or regulations applicable thereto, in a Place of Payment for that series
located outside the United States, an office or agency where any Registered Securities of that series may be surrendered for registration of transfer, where Securities of that series may be
surrendered for exchange, where Securities of that series that are convertible and exchangeable may be surrendered for conversion or exchange, as applicable, and where notices and demands to or upon
the Company in respect of the Securities of that series and this Indenture may be served. 

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        The
Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain
any such required office or agency in respect of any series of Securities 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, except that Bearer Securities of any series and the related coupons may be presented and surrendered for payment at the offices specified for
the purpose in the Security, and the Company hereby appoints the same as its agents to receive such respective presentations, surrenders, notices and demands. 

        The
Company may also from time to time designate one or more other offices or agencies 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 any such designation; 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 accordance with the requirements set forth above 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 other office or agency. Unless otherwise
specified with respect to any Securities as contemplated by Section 3.01 with respect to a series of Securities, the Company hereby designates as a Place of Payment for each series of
Securities the office or agency of the Company in the Borough of Manhattan, The City of New York, and initially appoints the Trustee at its Corporate Trust Office as Paying Agent in such city
and as its agent to receive all such presentations, surrenders, notices and demands. 

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        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 and any related coupons, it will, on or before each due date of the principal of (or
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 in the Currency in which the Securities
of such series are payable (except as otherwise specified pursuant to Section 3.01 for the Securities of such series and except, if applicable, as provided in Sections 3.12(b),
3.12(d) and 3.12(e)) sufficient to pay the principal of (or premium, if any) or interest, if any, on Securities of such series 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 and any related coupons, it will, prior to or on each due date of the principal of (or premium, if
any) or interest, if any, on any Securities of that series, deposit with a Paying Agent a sum (in the Currency described in the preceding paragraph) sufficient to pay the principal of (or 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 for the payment of the principal of (and premium, if any) and interest, if any, on Securities of such 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 notice of any default by the Company (or any other obligor upon the Securities of such series) in the making of any payment of principal of (or premium,
if any) or interest, if any, on the Securities of such 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 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 sums. 

        Except
as provided in the Securities of any series, any money or securities deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the
principal of (or premium, if any) or interest, if any, on any Security of any series, or any coupon appertaining thereto, and remaining unclaimed for the earlier of ten days prior to the time such
money or securities would escheat to the state or two years after such principal, premium or interest has become due and payable shall 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 or coupon shall 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 or Securities, 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 an Authorized Newspaper in general circulation in the Borough of Manhattan, The City of New York, or mail to each
Holder or both, 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 or mailing as the case
may be, any unclaimed balance of such money then remaining will be repaid to the Company. 

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        Section
10.04. Statement as to Compliance; Statement as to Default. 

        The
Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company (which on the date hereof ends on December 31) ending after the
date hereof, a brief certificate from the principal executive officer, principal financial officer or principal accounting officer or treasurer of the Company as to his or her review of the Company
during such year regarding compliance with the condition covenants under this Indenture and as to his or her knowledge of the Company's compliance with all conditions and covenants under this
Indenture. For purposes of this Section 10.04, such compliance shall be determined without regard to any period of grace or requirement of notice under this Indenture. The Company will deliver
to the Trustee, within five days after the occurrence thereof, written notice of any Event of Default. 

        Section
10.05. Additional Amounts. 

        If
specified pursuant to Section 3.01, all payments made by the Company under or with respect to the Securities of any series will be made free and clear of and without
withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including penalties, interest and other liabilities related
thereto) imposed or levied by or on behalf of the Government of Canada or of any province or territory thereof or by any authority or agency therein or thereof having power to tax (hereinafter
"Canadian Taxes"), unless the Company is required to withhold or deduct Canadian Taxes by law or by the interpretation or administration thereof by the relevant governmental authority or agency. If
the Company is so required to withhold or deduct any amount for or on account of Canadian Taxes from any payment made under or with respect to the Securities, the Company will pay such additional
amounts ("Additional Amounts") as may be necessary so that the net amount received by each Holder (including Additional Amounts) after such withholding or deduction will not be less than the amount
the Holder would have received if such Canadian Taxes had not been withheld or deducted (a similar payment will also be made to Holders that are exempt from withholding but are required to pay tax
directly on amounts otherwise subject to withholding); provided that no Additional Amounts will be payable: 

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        (1)   to
any Person in respect of whom such taxes are required to be withheld or deducted as a result of such Person not dealing at arm's length with the Company (within the
meaning of the Income Tax Act (Canada)) at the time of the making of such payment; 

        (2)   to
any Person by reason of such Person being connected with Canada (otherwise than merely by holding or ownership of any series of Securities or receiving any payments
or exercising any rights thereunder), including without limitation a nonresident insurer who carries on an insurance business in Canada and in a country other than Canada; 

        (3)   for
or on account of any tax, assessment or other governmental charge which would not have been so imposed but for the presentation by the Holder of such Security or
coupon for payment on a date more than 10 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; 

        (4)   for
or on account of any estate, inheritance, gift, sales, transfer, personal property tax or any similar tax, assessment or other governmental charge; 

        (5)   for
or on account of any tax, assessment or other governmental charge required to be withheld by any paying agent from any payment to a Person in respect of any
Security, if such payment can be made to such person without such withholding by at least one other paying agent the identity of which is provided to such Person; 

        (6)   for
or on account of any tax, assessment or other governmental charge which is payable otherwise than by withholding from a payment in respect of such Security; 

        (7)   to
any Person which is subject to such Canadian Taxes by reason of its failure to comply with any certification, identification, information, documentation or other
reporting requirement if compliance is required by law, regulation, administrative practice or an applicable treaty as a precondition to exemption from, or a reduction in the rate of deduction or
withholding of, such Canadian Taxes; or 

        (8)   for
any combination of items (1), (2), (3), (4), (5), (6) and (7); 

nor
will Additional Amounts be paid with respect to any payment on a Security to a Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent such
payment would be required by the laws of Canada (or any political subdivision thereof) to be included in the income for Canadian federal income tax purposes of a beneficiary or settlor with respect to
such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to payment of the Additional Amounts had such beneficiary, settlor, member or beneficial owner
been the Holder of such Security. 

        At
least 10 days prior to each date on which any payment under or with respect to the Securities is due and payable, if the Company will be obligated to pay Additional Amounts
with respect to such payment, the Company will (i) deliver to the Trustee an Officers' Certificate stating the fact that such Additional Amounts will be payable, the amounts so payable and will
set forth such other information necessary to enable the Trustee to pay such Additional Amounts to Holders on the payment date and (ii) deliver to the Trustee such Additional Amounts. The
Company covenants to indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense reasonably incurred by the Trustee without negligence or bad faith on its part arising
out of or in connection with actions taken or omitted by it in reliance on any Officers' Certificate furnished pursuant to this Section. Whenever in this Indenture there is mentioned, in any context,
the payment of principal (and premium, if any), Redemption Price, interest or any other amount payable under or with respect to any Security or any related coupon such mention shall be deemed to
include mention of the payment of Additional Amounts provided for in this Section to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to
the provisions of this Section and express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those
provisions hereof where such express mention is not made (if applicable). 

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        The
obligations of the Company under this Section 10.05 shall survive the termination of the Indenture. 

        Section
10.06. Payment of Taxes and Other Claims. 

        The
Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, all material taxes, assessments and governmental charges levied or imposed
upon the Company or upon the income, profits or property of the Company; provided, however, that the
Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment or charge whose amount, applicability or validity is being contested in good faith by
appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of any Outstanding Securities. 

        Section
10.07. Corporate Existence. 

        Subject
to Article 8, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and the rights (charter
and statutory) and franchises of the Company; provided, however, that the Company shall not be required
to preserve any such right or franchise if the Company shall determine that either (i) the preservation thereof is no longer desirable in the conduct of the business of the Company and its
Subsidiaries as a whole and that the loss thereof is not disadvantageous in any material respect to the Holders or (ii) that such preservation is not necessary in connection with any
transaction not prohibited by this Indenture. 

        Section
10.08. Waiver of Certain Covenants. 

        The
Company may, with respect to any series of Securities, omit in any particular instance to comply with any term, provision or condition which affects such series set forth in
Sections 10.06 to 10.07, inclusive, or, as specified pursuant to Section 3.01(19) for Securities of such series, in any covenants of the Company added to Article 10
pursuant to Section 3.01(18) or Section 3.01(19) in connection with Securities of such series, if before the time for such compliance the Holders of at least a majority in principal
amount of all Outstanding Securities of any series, by Act of such Holders, waive such compliance in such instance with such term, provision or condition, but no such waiver shall extend to or affect
such term, provision 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 to Holders of such series in respect of any such term, provision or condition shall remain in full force and effect. 

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ARTICLE 11
  
    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 the terms of such Securities and (except as otherwise specified as
contemplated by Section 3.01 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 or pursuant to a Board Resolution. In case of any redemption at the election of the Company, the Company shall,
at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the
principal amount of Securities of such series to be redeemed and shall deliver to the Trustee such documentation and records as shall enable the Trustee to select the Securities to be redeemed
pursuant to Section 11.03. 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, or pursuant to an election of the Company which is subject to a condition specified in the terms of such Securities, the Company shall furnish the Trustee with an Officers' Certificate
evidencing compliance with such restriction or condition. 

        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 not more than 60 days prior to the Redemption Date by
the Trustee, 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 of the principal amount of Securities of such series; provided, however, that
no such partial redemption shall reduce the portion of the principal amount of a Security not redeemed to less than the minimum authorized denomination for Securities of such series established
pursuant to Section 3.01. 

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        The
Trustee shall promptly notify the Company and the Security Registrar (if other than the Company or the Trustee) 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. 

        Except
as otherwise specified as contemplated by Section 3.01, notice of redemption shall be given in the manner provided for in Section 1.06 not less than 30 nor more than
60 days prior to the Redemption Date, to each Holder of Securities to be redeemed. Failure to give notice in the manner provided in Section 1.06 to the Holder of any Securities
designated for redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption of any other Securities or portion
thereof. 

        Any
notice that is mailed to the Holder of any Securities in the manner provided in Section 1.06 shall be conclusively presumed to have been duly given, whether or not such Holder
receives the notice. 

        All
notices of redemption shall state: 

        (1)   the
Redemption Date, 

        (2)   the
appropriate method of calculation of 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 and accrued interest, if any, to the Redemption Date payable as provided in Section 11.06 will become due and
payable upon each such Security, or the portion thereof, to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date, 

        (6)   the
Place or Places of Payment where such Securities, together in the case of Bearer Securities with all coupons appertaining thereto, if any, maturing after the
Redemption Date, are to be surrendered for payment of the Redemption Price and accrued interest, if any, 

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

        (8)   that,
unless otherwise specified in such notice, Bearer Securities of any series, if any, surrendered for redemption must be accompanied by all coupons maturing
subsequent to the Redemption Date or the amount of any such missing coupon or coupons will be deducted from the Redemption Price unless security or indemnity satisfactory to the Company, the Trustee
and any Paying Agent is furnished, and 

        (9)   if
Bearer Securities of any series are to be redeemed and any Registered Securities of such series are not to be redeemed, and if such Bearer Securities may be exchanged
for Registered Securities not subject to redemption on such Redemption Date pursuant to Section 3.05 or otherwise, the last date, as determined by the Company, on which such exchanges
may be made. 

        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. 

        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 10.03) an amount of money in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.01 for the
Securities of such series and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e)) sufficient to pay the Redemption Price of, and accrued interest, if any, 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, and the conditions, if any, set forth in such notice having been satisfied, the Securities so to be redeemed shall, on the Redemption
Date, become due and payable at the Redemption Price therein specified in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.01
for the Securities of such series and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e)) (together with accrued interest, if any, to the Redemption Date), and
from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest, if any) such Securities shall, if the same were interest-bearing, cease to bear
interest and the coupons for such interest appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void. Upon surrender of any such Security for
redemption in accordance with said notice, together with all coupons, if any, appertaining thereto maturing after the Redemption Date, such Security shall be paid by the Company at the Redemption
Price, together with accrued interest, if any, to the Redemption Date; provided, however, that
installments of interest on Bearer Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable only at an office or agency located outside the United States (except
as otherwise provided in Section 10.02) and, unless otherwise specified as contemplated by Section 3.01, only upon presentation and surrender of coupons for such interest; and provided
further that installments of interest on Registered Securities 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 Record Dates according to their terms and the provisions of Section 3.07. 

77

 

        If
any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant coupons maturing after the Redemption Date, such Security may be paid after deducting from
the Redemption Price an amount equal to the face
amount of all such missing coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there be furnished to them such security or indemnity as they may
require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the Trustee or any Paying Agent any such missing coupon in respect of which a
deduction shall have been made from the Redemption Price, such Holder shall be entitled to receive the amount so deducted. 

        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 of interest or Yield to Maturity (in the case of Original Issue Discount Securities) set forth in such Security. 

        Section
11.07. Securities Redeemed in Part. 

        Any
Security which is to be redeemed only in part (pursuant to the provisions of this Article or of Article 12) 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 such Holder's
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 and Stated Maturity, and 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. 

        Section
11.08. Tax Redemption. 

        If
specified pursuant to Section 3.01, the Securities of a series will be subject to redemption at any time, in whole but not in part, at a Redemption Price equal to the principal
amount thereof together with accrued and unpaid interest to the date fixed for redemption, upon the giving of a notice as described below, if (1) the Company determines that (a) as a
result of any change in or amendment to the laws (or any regulations or rulings promulgated thereunder) of Canada or of any political subdivision or taxing authority thereof or therein affecting
taxation, or any change in official position regarding application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction), which change or
amendment is announced or becomes effective on or after a date specified in the applicable supplemental indenture, if any date is so specified, the Company has or will become obligated to pay, on the
next succeeding date on which interest is due, Additional Amounts pursuant to Section 10.05 or (b) on or after a date specified pursuant to Section 3.01, any action has been taken
by any taxing authority of, or any decision has been rendered by a court of competent jurisdiction in, Canada or any political subdivision or taxing authority thereof or therein, including any of
those actions specified in (a) above, whether or not such action was taken or decision was rendered with respect to the Company, or any change, amendment, application or interpretation shall be
officially proposed, which, in any case, in the Opinion of Counsel to the Company, will result in the Company becoming obligated to pay, on the next succeeding date on which interest is due,
Additional Amounts with respect to any Security of such series and (2) in any such case, the Company in its business judgment determines that such obligation cannot be avoided by the use of
reasonable measures available to the Company; provided, however, that (i) no such notice of
redemption may be given earlier than 90 or later than 30 days prior to the earliest date on which the Company would be obligated to pay such Additional Amounts were a payment in respect of the
Securities due, and (ii) at the time such notice of redemption is given, such obligation to pay such Additional Amounts remains in effect. 

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ARTICLE 12
  
    SINKING FUNDS    
    

        Section 12.01. Applicability of Article. 

        Retirements
of Securities of any series pursuant to any sinking fund shall be made in accordance with the terms of such Securities and (except as otherwise specified as contemplated by
Section 3.01 for Securities of any series) in accordance with this Article. 

        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 mandatory sinking fund payment may be subject to reduction as provided in Section 12.02. 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. 

        Subject
to Section 12.03, in lieu of making all or any part of any mandatory sinking fund payment with respect to any Securities of such series in cash, the Company may at its
option (1) deliver to the Trustee Outstanding Securities of such series (other than any previously called for redemption) theretofore purchased or otherwise acquired by the Company together in
the case of any Bearer Securities of such series with all unmatured coupons appertaining thereto, and/or (2) receive credit for the principal amount of Securities of such series which have been
previously delivered to the Trustee by the Company or for Securities of such series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through
the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any mandatory sinking fund payment with respect
to the Securities of the same series required to be made pursuant to the terms of such Securities as provided for by the terms of such series; provided,  however, 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 mandatory sinking fund payment shall be reduced accordingly. 

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        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 in the Currency in which the
Securities of such series are payable (except as otherwise specified pursuant to Section 3.01 for the Securities of such series and except, if applicable, as provided in
Sections 3.12(b), 3.12(d) and 3.12(e)) and the portion thereof, if any, which is to be satisfied by delivering or crediting Securities of that series pursuant to Section 12.02 (which
Securities will, if not previously delivered, accompany such certificate) and whether the Company intends to exercise its right to make a permitted optional sinking fund payment with respect to such
series. Such Officers' Certificate shall be irrevocable and upon its delivery the Company shall be obligated to make the cash payment or payments therein referred to, if any, on or before the next
succeeding sinking fund payment date. In the case of the failure of the Company to deliver such Officers' Certificate, the sinking fund payment due on the next succeeding sinking fund payment date for
that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Securities subject to a mandatory sinking fund payment without, with respect to such payment
date, the option to deliver or credit Securities as provided in Section 12.02 and without the right to make any optional sinking fund payment, if any, with respect to such series. 

        Not
more than 60 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 11.03 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 11.04. Such notice
having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 11.06 and 11.07. 

        On
or prior to any sinking fund payment date, the Company shall pay to the Trustee or a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 10.03) in cash a sum equal to any interest that will accrue to the date fixed for redemption of Securities or portions thereof to be redeemed on such sinking fund payment
date pursuant to this Section 12.03. 

        Notwithstanding
the foregoing, with respect to a sinking fund for any series of Securities, if at any time the amount of cash to be paid into such sinking fund on the next succeeding
sinking fund payment date, together with any unused balance of any preceding sinking fund payment or payments for such series, does not exceed in the aggregate $100,000, the Trustee, unless requested
by the Company in a Company Request, shall not give the next succeeding notice of the redemption of Securities of such series through the operation of the sinking fund. Any such unused balance of
moneys deposited in such sinking fund shall be added to the sinking fund payment for such series to be made in cash on the next succeeding sinking fund payment date or, at the request of the Company
in a Company Request, shall be applied at any time or from time to time to the purchase of Securities of such series, by public or private purchase, in the open market or otherwise, at a purchase
price for such Securities (excluding accrued interest and brokerage commissions, for which the Trustee or any Paying Agent will be reimbursed by the Company) not in excess of the principal amount
thereof. 

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ARTICLE 13
  
    REPAYMENT AT OPTION OF HOLDERS    
    

        Section 13.01. Applicability of Article. 

        Repayment
of Securities of any series before their Stated Maturity at the option of Holders thereof shall be made in accordance with the terms of such Securities and (except as otherwise
specified as contemplated by Section 3.01 for Securities of any series) in accordance with this Article. 

        Section
13.02. Repayment of Securities. 

        Securities
of any series subject to repayment in whole or in part at the option of the Holders thereof will, unless otherwise provided in the terms of such Securities, be repaid at a
price equal to the principal amount thereof, together with interest, if any, thereon accrued to the Repayment Date specified in or pursuant to the terms of such Securities. The Company covenants that
on or before the Repayment Date it will 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 10.03) an amount of money in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.01 for the Securities of
such series and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e)) sufficient to pay the principal (or, if so provided by the terms of the Securities of any series, a
percentage of the principal) of and (except if the Repayment Date shall be an Interest Payment Date) accrued interest, if any, on, all the Securities or portions thereof, as the case may be, to be
repaid on such date. 

        Section
13.03. Exercise of Option. 

        Securities
of any series subject to repayment at the option of the Holders thereof will contain an "Option to Elect Repayment" form on the reverse of such Securities. To be repaid at the
option of the Holder, any Security so providing for such repayment, with the "Option to Elect Repayment" form on the reverse of such Security duly completed by the Holder (or by the Holder's attorney
duly authorized in writing), must be received by the Company at the Place of Payment therefor specified in the terms of such Security (or at such other place or places or which the Company shall from
time to time notify the Holders of such Securities) not earlier than 45 days nor later than 30 days prior to the Repayment Date. If less than the entire principal amount of such Security
is to be repaid in accordance with the terms of such Security, the principal amount of such Security to be repaid, in increments of the minimum denomination for Securities of such series, and the
denomination or denominations of the Security or Securities to be issued to the Holder for the portion of the principal amount of such Security surrendered that is not to be repaid, must be specified.
The principal amount of any Security providing for repayment at the option of the Holder thereof may not be repaid in part if, following such repayment, the unpaid principal amount of such Security
would be less than the minimum authorized denomination of Securities of the series of which such Security to be repaid is a part. Except as otherwise may be provided by the terms of any Security
providing for repayment at the option of the Holder thereof, exercise of the repayment option by the Holder shall be irrevocable unless waived by the Company. 

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        Section
13.04. When Securities Presented for Repayment Become Due and Payable. 

        If
Securities of any series providing for repayment at the option of the Holders thereof shall have been surrendered as provided in this Article and as provided by or pursuant to the
terms of such Securities, such Securities or the portions thereof, as the case may be, to be repaid shall become due and payable and shall be paid by the Company on the Repayment Date therein
specified, and on and after such Repayment Date (unless the Company shall default in the payment of such Securities on such Repayment Date) such Securities shall, if the same were interest-bearing,
cease to bear interest and the coupons for such interest appertaining to any Bearer Securities so to be repaid, except to the extent provided below, shall be void. Upon surrender of any Bearer
Security for repayment in accordance with such provisions, together with all coupons, if any, appertaining thereto maturing after the Repayment Date, the principal amount of such Security so to be
repaid shall be paid by the Company, together with accrued interest, if any, to the Repayment Date; provided,  however, that coupons whose Stated Maturity
is on or prior to the Repayment Date shall be payable only, unless otherwise specified, pursuant to
Section 3.01, upon presentation and surrender of such coupons; and provided further that, in the case of Registered Securities, installments of interest, if any, whose Stated Maturity is on or
prior to the Repayment 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 Record Dates
according to their terms and the provisions of Section 3.07. 

        If
any Bearer Security surrendered for repayment shall not be accompanied by all appurtenant coupons maturing after the Repayment Date, such Security may be paid after deducting from the
amount payable therefor as provided in Section 13.02 an amount equal to the face amount of all such missing coupons, or the surrender of such missing coupon or coupons may be waived by the
Company and the Trustee if there be furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall
surrender to the Trustee or any Paying Agent any such missing coupon in respect of which a deduction shall have been made as provided in the preceding sentence, such Holder shall be entitled to
receive the amount so deducted; provided, however, that interest represented by coupons shall be
payable, unless otherwise specified as contemplated by Section 3.01, only upon presentation and surrender of those coupons. 

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        If the principal amount of any Security surrendered for repayment shall not be so repaid upon surrender thereof, such principal amount (together with interest, if any, thereon accrued to
such Repayment Date) shall, until paid, bear interest from the Repayment Date at the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) set forth in such
Security. 

        Section
13.05. Securities Repaid in Part. 

        Upon
surrender of any Registered Security which is to be repaid in part only, the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security,
without service charge and at the expense of the Company, a new Registered Security or Securities of the same series, of any authorized denomination specified by the Holder, in an aggregate principal
amount equal to and in exchange for the portion of the principal of such Security so surrendered which is not to be repaid. 

 
 

ARTICLE 14
  
    DEFEASANCE AND COVENANT DEFEASANCE    
    

        Section
14.01. Company's Option to Effect Defeasance or Covenant Defeasance. 

        Except
as otherwise specified as contemplated by Section 3.01 for Securities of any series, the provisions of this Article 14 shall apply to each series of
Securities, and the Company may, at its option, by Board Resolution effect defeasance of the Securities of or within a series under Section 14.02 or covenant defeasance of a series under
Section 14.03 in accordance with the terms of such Securities and in accordance with this Article. 

        Section
14.02. Defeasance and Discharge. 

        Upon
the Company's exercise under Section 14.01 of the option applicable to this Section with respect to any Securities of a series, the Company shall be deemed to have been
discharged from its obligations with respect to such Outstanding Securities and any related coupons on the date the conditions set forth in Section 14.04 are satisfied (hereinafter,
"defeasance"). For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Outstanding Securities and any related
coupons, which shall thereafter be deemed to be "Outstanding" only for the purposes of Section 14.05 and the other Sections of this Indenture referred to in (A), (B) and
(C) below, and to have satisfied all its other obligations under such Securities and any related coupons and this Indenture insofar as such Securities and any related coupons are concerned (and
the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated or
discharged hereunder: (A) the rights of Holders of such Outstanding Securities and any related coupons to receive, solely from the trust fund described in Section 13.04 and as
more fully set forth in such Section, payments in respect of the principal of (and premium, if any) and interest, if any, on such Securities and any related coupons when such payments are due,
(B) the Company's obligations with respect to such Securities under Sections 3.04, 3.05, 3.06, 10.02 and 10.03 and with respect to the payment of Additional Amounts, if any, on such
Securities as contemplated by Section 10.05, (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company's obligations in connection therewith,
including the Company's obligations under Section 6.07, and (D) this Article 14. Subject to compliance with this Article 14, the Company may exercise its option under this
Section 14.02 notwithstanding the prior exercise of its option under Section 14.03 with respect to such Securities and any related coupons. 

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        Section
14.03. Covenant Defeasance. 

        Upon
the Company's exercise under Section 14.01 of the option applicable to this Section with respect to any Securities of a series, the Company shall be released from its
obligations under Article 10, and, if specified pursuant to Section 3.01, its obligations under any other covenant, with respect to such Outstanding Securities and any related coupons on
and after the date the conditions set forth in Section 14.04 are satisfied (hereinafter, "covenant defeasance"), and such Securities and any related coupons shall thereafter be deemed not to be
"Outstanding" for the purposes of any direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be
deemed "Outstanding" for all other purposes hereunder. For this purpose, such covenant defeasance means that, with respect to such Outstanding Securities and any related coupons, the Company may omit
to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein
to any such covenant or by reason of reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of
Default under Section 5.01(4) or Section 5.01(7) or otherwise, as the case may be, but, except as specified above, the remainder of this Indenture and such Securities and any
related coupons shall be unaffected thereby. 

        Section
14.04. Conditions to Defeasance or Covenant Defeasance. 

        The
following shall be the conditions to application of either Section 14.02 or Section 14.03 to any Outstanding Securities of a series and any related coupons: 

        (1)   The
Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 6.08 who shall
agree to comply with the provisions of this Article 14 applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and
dedicated solely to, the benefit of the Holders of such Securities and any related coupons, (A) an amount (in such Currency in which such Securities and any related coupons are then specified
as payable at Stated Maturity), or (B) Government Obligations applicable to such Securities (determined on the basis of the Currency in which such Securities are then specified as payable at
Stated Maturity) which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment
of principal of and premium, if any, and interest, if any, under such Securities and any related coupons, money in an amount, or (C) a combination thereof, sufficient, in the opinion of a
nationally recognized firm of independent chartered accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee
(or other qualifying trustee) to pay and discharge, (i) the principal of (and premium, if any) and interest, if any, on such Outstanding Securities and any related coupons on the Stated
Maturity (or Redemption Date, if applicable) of such principal (and premium, if any) or installment of interest, if any, and (ii) any mandatory sinking fund payments or analogous payments
applicable to such Outstanding Securities and any related coupons on the day on which such payments are due and payable in accordance with the terms of this Indenture and of such Securities and any
related coupons; provided, that the Trustee shall have been irrevocably instructed to apply such money or the proceeds of such Government Obligations to said payments with respect to such Securities
and any related coupons. Before such a deposit, the Company may give to the Trustee, in accordance with Section 11.02 hereof, a notice of its election to redeem all or any portion of such
Outstanding Securities at a future date in accordance with the terms of the Securities of such series and Article 11 hereof, which notice shall be irrevocable. Such irrevocable redemption
notice, if given, shall be given effect in applying the foregoing. 

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        (2)   No
Default or Event of Default with respect to such Securities or any related coupons shall have occurred and be continuing on the date of such deposit or, insofar as
paragraphs (5) and (6) of Section 5.01 are concerned, at any time during the period ending on the 91st day after the date of such deposit (it being understood that this condition
shall not be deemed satisfied until the expiration of such period). 

        (3)   Such
defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a Default under, this Indenture or any other material agreement or
instrument to which the Company is a party or by which it is bound. 

        (4)   In
the case of an election under Section 14.02, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (x) the Company has
received from, or there has been published by, the Internal Revenue Service a ruling, or (y) since the date of execution of this Indenture, there has been a change in the applicable federal
income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of such Outstanding Securities and any related coupons will not recognize
income, gain or loss for federal income tax purposes as a result of such defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such defeasance had not occurred. 

        (5)   In
the case of an election under Section 14.03, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such
Outstanding Securities and any related coupons will not recognize income, gain or loss for federal income tax purposes as a result of such covenant defeasance and will be subject to federal income tax
on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred. 

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        (6)   The
Company has delivered to the Trustee an Opinion of Counsel to the effect that such deposit shall not cause the Trustee or the trust so created to be subject to the
Investment Company Act of 1940, as amended. 

        (7)   The
Company has delivered to the Trustee either an Opinion of Counsel of Canadian counsel or a ruling from Canada Customs and Revenue Agency, in either case to the
effect that the Holders of such Outstanding Securities will not recognize income, gain or loss for Canadian federal, provincial or territorial income tax or other tax purposes as a result of such
defeasance or covenant defeasance and will be subject to Canadian federal or provincial income tax and other tax on the same amounts, in the same manner and at the same times as would have been the
case had such defeasance or covenant defeasance not occurred (and for the purposes of such Opinion of Counsel, such Canadian counsel shall assume that Holders include Holders who are not resident in
Canada). 

        (8)   The
Company is not an "insolvent person" within the meaning of the Bankruptcy and Insolvency Act (Canada) on the date of such deposit or at any time during the period
ending on the 91st day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period). 

        (9)   Notwithstanding
any other provisions of this Section, such defeasance or covenant defeasance shall be effected in compliance with any additional or substitute terms,
conditions or limitations in connection therewith pursuant to Section 3.01. 

        (10) The
Company shall have delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to
either the defeasance under Section 14.02 or the covenant defeasance under Section 14.03 (as the case may be) have been complied with. 

        Section
14.05. Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions. 

        Subject
to the provisions of the last paragraph of Section 10.03, all money and Government Obligations (or other property as may be provided pursuant to Section 3.01)
(including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 14.05, the "Trustee") pursuant to Section 14.04 in
respect of such Outstanding Securities and any related coupons shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and any related coupons and this
Indenture, 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 Holders of such Securities and any
related coupons of all sums due and to become due thereon in respect of principal (and premium, if any) and interest, if any, but such money need not be segregated from other funds except to the
extent required by law. 

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        Unless
otherwise specified with respect to any Security pursuant to Section 3.01, if, after a deposit referred to in Section 14.04(1) has been made, (a) the Holder
of a Security in respect of which such deposit was made is entitled to, and does, elect pursuant to Section 3.12(b) or the terms of such Security to receive payment in a Currency other
than that in which the deposit pursuant to Section 14.04(1) has been made in respect of such Security, or (b) a Conversion Event occurs as contemplated in Section 3.12(d)
or 3.12(e) or by the terms of any Security in respect of which the deposit pursuant to Section 14.04(1) has been made, the indebtedness represented by such Security and any related
coupons shall be deemed to have been, and will be, fully discharged and satisfied through the payment of the principal of (and premium, if any) and interest, if any, on such Security as they become
due out of the proceeds yielded by converting (from time to time as specified below in the case of any such election) the amount or other property deposited in respect of such Security into the
Currency in which such Security becomes payable as a result of such election or Conversion Event based on the applicable Market Exchange Rate for such Currency in effect on the third Business Day
prior to each payment date, except, with respect to a Conversion Event, for such Currency in effect (as nearly as feasible) at the time of the Conversion Event. 

        The
Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Obligations deposited pursuant to Section 14.04
or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of such Outstanding Securities and any
related coupons. 

        Anything
in this Article 14 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or Government
Obligations (or other property and any proceeds therefrom) held by it as provided in Section 14.04 which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent defeasance or covenant
defeasance, as applicable, in accordance with this Article. 

        Section
14.06. Reinstatement. 

        If
the Trustee or any Paying Agent is unable to apply any money in accordance with Section 14.05 by reason of any order or judgment of any court or governmental authority
enjoining, restraining or otherwise prohibiting such application, then the Company's obligations under this Indenture and such Securities and any related coupons shall be revived and reinstated as
though no deposit had occurred pursuant to Section 14.02 or 14.03, as the case may be, until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance
with Section 14.05; provided, however, that if the Company makes any payment of principal of (or
premium, if any) or interest, if any, on any such Security or any related coupon following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such
Securities and any related coupons to receive such payment from the money held by the Trustee or Paying Agent. 

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ARTICLE 15
  
    MEETINGS OF HOLDERS OF SECURITIES    
    

        Section
15.01. Purposes for Which Meetings May Be Called. 

        If
Securities of a series are issuable as Bearer Securities, a meeting of Holders of Securities of such series may be called at any time and from time to time pursuant to this Article to
make, give or take any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be made, given or taken by Holders of Securities of such series. 

        Section
15.02. Call, Notice and Place of Meetings. 

        (a)   The
Trustee may at any time call a meeting of Holders of Securities of any series for any purpose specified in Section 15.01, to be held at such time and
at such place in the Borough of Manhattan, The City of New York as the Trustee shall determine. Notice of every meeting of Holders of Securities of any series, setting forth the time and the
place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given, in the manner provided for in Section 1.06, not less than 21 nor more than
180 days prior to the date fixed for the meeting. 

        (a)   In
case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 10% in principal amount of the Outstanding Securities of any series shall
have requested the Trustee to call a meeting of the Holders of Securities of such series for any purpose specified in Section 15.01, by written request setting forth in reasonable detail the
action proposed to be taken at the meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 21 days after receipt of such request or shall not
thereafter proceed to cause the meeting to be held as provided herein, then the Company or the Holders of Securities of such series in the amount above specified, as the case may be, may determine the
time and the place in the Borough of Manhattan, The City of New York for such meeting and may call such meeting for such purposes by giving notice thereof as provided in paragraph (a) of
this Section. 

        Section
15.03. Persons Entitled to Vote at Meetings. 

        To
be entitled to vote at any meeting of Holders of Securities of any series, a Person shall be (1) a Holder of one or more Outstanding Securities of such series, or (2) a
Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Securities of such series by such Holder or Holders of the Securities. The only Persons who
shall be entitled to be present or to speak at any meeting of Holders of Securities of any series shall be the Person entitled to vote at such meeting and their counsel, any representatives of the
Trustee and its counsel and any representatives of the Company and its counsel. 

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        Section
15.04. Quorum; Action. 

        The
Persons entitled to vote a majority in principal amount of the Outstanding Securities of a series shall constitute a quorum for a meeting of Holders of Securities of such series;  provided, however, that, if any action is to be taken at such meeting with respect to a consent or
waiver which this Indenture expressly provides may be given by the Holders of not less than a specified percentage in principal amount of the Outstanding Securities of a series, the Persons entitled
to vote such specified percentage in principal amount of the Outstanding Securities of such series shall constitute a quorum. In the absence of a quorum within 30 minutes of the time appointed for any
such meeting, the meeting shall, if convened at the request of Holders of Securities of such series, be dissolved. In any other case the meeting may be adjourned for a period of not less than
10 days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further
adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned
meeting shall be given as provided in Section 15.02(a), except that such notice need be given only once not less than five days prior to the date on which the meeting is scheduled to be
reconvened. Notice of the reconvening of any adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the Outstanding Securities of such series which shall
constitute a quorum. 

        Subject
to the foregoing and except as limited by the provisions to Section 9.02, at the reconvening of any meeting adjourned for lack of a quorum the Holders entitled to vote 25%
in aggregate principal amount of the Outstanding Securities at the time shall constitute a quorum for the taking of any action set forth in the notice of the original meeting. 

        Except
as limited by the proviso to Section 9.02, any resolution presented to a meeting or adjourned meeting duly reconvened at which a quorum is present as aforesaid may be
adopted by the affirmative vote of the Holders of not less than a majority in principal amount of the Outstanding Securities of such series; provided,  however, that, except as limited by the proviso to Section 9.02, any resolution with respect to any request, demand, authorization, direction,
notice, consent, waiver or other action which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage, which is less than a majority, in principal amount
of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of
not less than such specified percentage in principal amount of the Outstanding Securities of such series. 

        Any
resolution passed or decision taken at any meeting of Holders of Securities of any series duly held in accordance with this Section shall be binding on all the Holders of Securities
of such series and the related coupons, whether or not present or represented at the meeting. 

        Notwithstanding
the foregoing provisions of this Section 15.04, if any action is to be taken at a meeting of Holders of Securities of any series with respect to any request,
demand, authorization, direction, notice, consent, waiver or other action that this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage in principal
amount of all Outstanding Securities affected thereby, or of the Holders of such series and one or more additional series: 

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        (i)    there
shall be no minimum quorum requirement for such meeting; and 

        (ii)   the
principal amount of the Outstanding Securities of such series that vote in favor of such request, demand, authorization, direction, notice, consent, waiver or other
action shall be taken into account in determining whether such request, demand, authorization, direction, notice, consent, waiver or other action has been made, given or taken under this Indenture. 

        Section
15.05. Determination of Voting Rights; Conduct and Adjournment of Meetings. 

        (a)   Notwithstanding
any provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders of Securities of a
series in regard to proof of the holding of Securities of such series and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and
examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as its shall deem appropriate. Except as otherwise permitted
or required by any such regulations, the holding of Securities shall be proved in the manner specified in Section 1.04 and the appointment of any proxy shall be proved in the manner
specified in Section 1.04. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in
Section 1.04 or other proof. 

        (b)   The
Trustee shall, by an instrument in writing appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders as
provided in Section 15.02(b), in which case the Company or the Holders of the series calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent
chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at
the meeting. 

        (c)   At
any meeting each Holder of the Securities of such series or proxy shall be entitled to one vote for each $1,000 principal amount of Outstanding Securities of such
series held or represented by him (determined as specified in the definition of "Outstanding" in Section 1.01); provided,  however, that no vote shall
be cast or counted at any meeting in respect of any Security challenged in good faith as not Outstanding and ruled by the
chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of the Securities of such series or proxy. 

        (d)   Any
meeting of Holders of the Securities of any series duly called pursuant to Section 15.02 at which a quorum is present may be adjourned from time to time by
Persons entitled to vote a majority or more in principal amount of the Outstanding Securities of such series represented at the meeting; and the meeting may be held as so adjourned without further
notice. 

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        Section
15.06. Counting Votes and Recording Action of Meetings. 

        The
vote upon any resolution submitted to any meeting of Holders of the Securities of any series shall be by written ballots on which shall be subscribed the signatures of the Holders of
the Securities of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities of such series held or represented by them. The permanent
chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting
their verified written reports in duplicate of all votes cast at the meeting. A record, at least in duplicate, of the proceedings of each meeting of Holders of the Securities of any series shall be
prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more
persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section 15.02 and, if applicable,
Section 15.04. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company, and another
to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters
therein stated. 

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        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. 

	 	 	CELESTICA INC.
	
 	
 	

By:	

/s/  ELIZABETH L. DELBIANCO      
 Name: Elizabeth L. Delbianco

Title: Chief Legal Officer
	
 	
 	
JPMORGAN CHASE BANK,

as Trustee
	
 	
 	

By:	

/s/  L. OBRIEN      
 Name: L. OBrien

Title: Vice President

92

  

CELESTICA INC. 

as Issuer 

AND 

JPMORGAN CHASE BANK, 

as Trustee 

Indenture 

Dated
as of                          

93

 
  
 

    CELESTICA INC.
  
    Reconciliation and tie between Trust Indenture Act of 1939 and Indenture    
    

	Trust Indenture Act Section
 
	 	Indenture Section
 

	310	(a)(1)	 	6.07
	 	(a)(2)	 	6.07
	 	(a)(3)	 	Not Applicable
	 	(a)(4)	 	Not Applicable
	 	(b)	 	6.04, 6.07(b), 6.08
	
 311	

(a)	
 	

6.04
	 	(b)	 	6.04
	 	(c)	 	Not Applicable
	
 312	

(a)	
 	

7.01, 7.02
	 	(b)	 	7.02(c), 7.03
	 	(c)	 	7.01
	
 313	

(a)	
 	

7.04
	 	(b)	 	Not Applicable
	 	(c)	 	7.04
	
 314	

(a)	
 	

7.05
	 	(a)(4)	 	10.04
	 	(b)	 	Not Applicable
	 	(c)(1)	 	1.02
	 	(c)(2)	 	1.02
	 	(c)(3)	 	Not Applicable
	 	(d)	 	Not Applicable
	 	(e)	 	1.02
	
 315	

(a)	
 	

6.02
	 	(b)	 	6.01. 6.02
	 	(c)	 	6.02
	 	(d)	 	6.02
	 	(e)	 	6.02
	
 316	

(a) (last sentence)	
 	

1.01 ("Outstanding")
	 	(a)(1)(A)	 	5.02, 5.12
	 	(a)(1)(B)	 	5.13
	 	(a)(2)	 	Not Applicable
	 	(b)	 	5.08
	 	(c)	 	1.04(e)
	
 317	

(a)(1)	
 	

5.03
	 	(a)(2)	 	5.04
	 	(b)	 	10.03
	
 318	

(a)	
 	

1.11

94

  

 
 

TABLE OF CONTENTS    
    

	 
	 	 
	 	Page

	 ARTICLE 1    DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 	1
	 	Section 1.01.	 	Definitions	 	1
	 	Section 1.02.	 	Compliance Certificates and Opinions	 	11
	 	Section 1.03.	 	Form of Documents Delivered to Trustee	 	12
	 	Section 1.04.	 	Acts of Holders	 	12
	 	Section 1.05.	 	Notices, etc., to Trustee and Company	 	14
	 	Section 1.06.	 	Notice to Holders; Waiver	 	15
	 	Section 1.07.	 	Effect of Headings and Table of Contents	 	16
	 	Section 1.08.	 	Successors and Assigns	 	16
	 	Section 1.09.	 	Separability Clause	 	16
	 	Section 1.10.	 	Benefits of Indenture	 	16
	 	Section 1.11.	 	Governing Law	 	16
	 	Section 1.12.	 	Legal Holidays	 	16
	 	Section 1.13.	 	Conflict with Trust Indenture Act	 	17
	 	Section 1.14.	 	Conversion of Currency	 	17
	 	Section 1.15.	 	Indenture and Securities Solely Corporate Obligations	 	18
	 	Section 1.16.	 	Agent for Service; Submission to Jurisdiction; Waiver of Immunities	 	18
	 	Section 1.17.	 	Counterparts	 	19
	 	Section 1.18.	 	Incorporation by Reference of Trust Indenture Act	 	19
	
 ARTICLE 2 SECURITY FORMS	
 	

19
	 	Section 2.01.	 	Forms Generally	 	19
	 	Section 2.02.	 	Form of Trustee's Certificate of Authentication	 	20
	 	Section 2.03.	 	Global Securities	 	20
	 	Section 2.04.	 	Form of Legend for Global Securities	 	21
	
 ARTICLE 3    THE SECURITIES	
 	

21
	 	Section 3.01.	 	Amount Unlimited; Issuable in Series	 	21
	 	Section 3.02.	 	Denominations	 	25
	 	Section 3.03.	 	Execution, Authentication, Delivery and Dating	 	26
	 	Section 3.04.	 	Temporary Securities	 	28
	 	Section 3.05.	 	Registration, Registration of Transfer and Exchange	 	29
	 	Section 3.06.	 	Mutilated, Destroyed, Lost and Stolen Securities	 	32
	 	Section 3.07.	 	Payment of Principal and Interest; Interest Rights Preserved; Optional Interest Reset	 	33
	 	Section 3.08.	 	Optional Extension of Stated Maturity	 	36
	 	Section 3.09.	 	Persons Deemed Owners	 	37
	 	Section 3.10.	 	Cancellation	 	38
	 	Section 3.11.	 	Computation of Interest	 	38

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	 	Section 3.12.	 	Currency and Manner of Payments in Respect of Securities	 	38
	 	Section 3.13.	 	Appointment and Resignation of Successor Exchange Rate Agent	 	41
	 	Section 3.14.	 	CUSIP Numbers	 	42
	
 ARTICLE 4    SATISFACTION AND DISCHARGE	
 	

42
	 	Section 4.01.	 	Satisfaction and Discharge of Indenture	 	42
	 	Section 4.02.	 	Application of Trust Money	 	44
	
 ARTICLE 5    REMEDIES	
 	

44
	 	Section 5.01.	 	Events of Default	 	44
	 	Section 5.02.	 	Acceleration of Maturity; Rescission and Annulment	 	45
	 	Section 5.03.	 	Collection of Indebtedness and Suits for Enforcement by Trustee	 	46
	 	Section 5.04.	 	Trustee May File Proofs of Claim	 	47
	 	Section 5.05.	 	Trustee May Enforce Claims Without Possession of Securities	 	48
	 	Section 5.06.	 	Application of Money Collected	 	48
	 	Section 5.07.	 	Limitation on Suits	 	49
	 	Section 5.08.	 	Unconditional Right of Holders to Receive Principal, Premium and Interest	 	50
	 	Section 5.09.	 	Restoration of Rights and Remedies	 	50
	 	Section 5.10.	 	Rights and Remedies Cumulative	 	50
	 	Section 5.11.	 	Delay or Omission Not Waiver	 	51
	 	Section 5.13.	 	Waiver of Past Defaults	 	51
	 	Section 5.14.	 	Waiver of Stay or Extension and Usury Laws	 	52
	 	Section 5.15.	 	Undertaking for Costs	 	52
	
 ARTICLE 6    THE TRUSTEE	
 	

53
	 	Section 6.01.	 	Certain Duties and Responsibilities	 	53
	 	Section 6.02.	 	Notice of Defaults	 	54
	 	Section 6.03.	 	Certain Rights of Trustee	 	54
	 	Section 6.04.	 	Trustee Not Responsible for Recitals or Issuance of Securities	 	55
	 	Section 6.05.	 	May Hold Securities	 	56
	 	Section 6.06.	 	Money Held in Trust	 	56
	 	Section 6.07.	 	Compensation and Reimbursement	 	56
	 	Section 6.08.	 	Corporate Trustee Required; Eligibility; Conflicting Interests	 	57
	 	Section 6.09.	 	Resignation and Removal; Appointment of Successor	 	57
	 	Section 6.10.	 	Acceptance of Appointment by Successor	 	59
	 	Section 6.11.	 	Merger, Amalgamation, Conversion, Consolidation or Succession to Business	 	60
	 	Section 6.12.	 	Preferential Collection of Claims Against Company	 	60

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	 	Page

	 	Section 6.13.	 	Appointment of Authenticating Agent	 	61
	
 ARTICLE 7    HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY	
 	

62
	 	Section 7.01.	 	Company to Furnish Trustee Names and Addresses of Holders	 	62
	 	Section 7.02.	 	Preservation of List of Names and Addresses of Holders	 	63
	 	Section 7.03.	 	Disclosure of Names and Addresses of Holders	 	63
	 	Section 7.04.	 	Reports by Trustee	 	63
	 	Section 7.05.	 	Reports by Company	 	63
	
 ARTICLE 8    CONSOLIDATION, AMALGAMATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	
 	

64
	 	Section 8.01.	 	Company May Consolidate, etc., Only on Certain Terms	 	64
	 	Section 8.02.	 	Successor Person Substituted	 	64
	 	Section 8.03.	 	No Consent or Approval Required	 	65
	
 ARTICLE 9    SUPPLEMENTAL INDENTURES	
 	

65
	 	Section 9.01.	 	Supplemental Indentures Without Consent of Holders	 	65
	 	Section 9.02.	 	Supplemental Indentures with Consent of Holders	 	67
	 	Section 9.03.	 	Execution of Supplemental Indentures	 	68
	 	Section 9.04.	 	Effect of Supplemental Indentures	 	68
	 	Section 9.05.	 	Conformity with Trust Indenture Act	 	68
	 	Section 9.06.	 	Reference in Securities to Supplemental Indentures	 	68
	 	Section 9.07.	 	Notice of Supplemental Indentures	 	69
	
 ARTICLE 10    COVENANTS	
 	

69
	 	Section 10.01.	 	Payment of Principal, Premium, if any, and Interest	 	69
	 	Section 10.02.	 	Maintenance of Office or Agency	 	69
	 	Section 10.03.	 	Money for Securities Payments to Be Held in Trust	 	70
	 	Section 10.04.	 	Statement as to Compliance; Statement as to Default	 	72
	 	Section 10.05.	 	Additional Amounts	 	72
	 	Section 10.06.	 	Payment of Taxes and Other Claims	 	74
	 	Section 10.07.	 	Corporate Existence	 	74
	 	Section 10.08.	 	Waiver of Certain Covenants	 	74
	
 ARTICLE 11    REDEMPTION OF SECURITIES	
 	

75
	 	Section 11.01.	 	Applicability of Article	 	75
	 	Section 11.02.	 	Election to Redeem; Notice to Trustee	 	75
	 	Section 11.03.	 	Selection by Trustee of Securities to Be Redeemed	 	75
	 	Section 11.04.	 	Notice of Redemption	 	76
	 	Section 11.05.	 	Deposit of Redemption Price	 	77
	 	Section 11.06.	 	Securities Payable on Redemption Date	 	77
	 	Section 11.07.	 	Securities Redeemed in Part	 	78

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	 	Page

	 	Section 11.08.	 	Tax Redemption	 	78
	
 ARTICLE 12    SINKING FUNDS	
 	

79
	 	Section 12.01.	 	Applicability of Article	 	79
	 	Section 12.02.	 	Satisfaction of Sinking Fund Payments With Securities	 	79
	 	Section 12.03.	 	Redemption of Securities for Sinking Fund	 	80
	
 ARTICLE 13    REPAYMENT AT OPTION OF HOLDERS	
 	

81
	 	Section 13.01.	 	Applicability of Article	 	81
	 	Section 13.02.	 	Repayment of Securities	 	81
	 	Section 13.03.	 	Exercise of Option	 	81
	 	Section 13.04.	 	When Securities Presented for Repayment Become Due and Payable	 	82
	 	Section 13.05.	 	Securities Repaid in Part	 	83
	
 ARTICLE 14    DEFEASANCE AND COVENANT DEFEASANCE	
 	

83
	 	Section 14.01.	 	Company's Option to Effect Defeasance or Covenant Defeasance	 	83
	 	Section 14.02.	 	Defeasance and Discharge	 	83
	 	Section 14.03.	 	Covenant Defeasance	 	84
	 	Section 14.04.	 	Conditions to Defeasance or Covenant Defeasance	 	84
	 	Section 14.05.	 	Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions	 	86
	 	Section 14.06.	 	Reinstatement	 	87
	
 ARTICLE 15    MEETINGS OF HOLDERS OF SECURITIES	
 	

87
	 	Section 15.01.	 	Purposes for Which Meetings May Be Called	 	87
	 	Section 15.02.	 	Call, Notice and Place of Meetings	 	88
	 	Section 15.03.	 	Persons Entitled to Vote at Meetings	 	88
	 	Section 15.04.	 	Quorum; Action	 	88
	 	Section 15.05.	 	Determination of Voting Rights; Conduct and Adjournment of Meetings	 	90
	 	Section 15.06.	 	Counting Votes and Recording Action of Meetings	 	90

iv

QuickLinks

RECITALS OF THE COMPANY

ARTICLE 1 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

ARTICLE 2 SECURITY FORMS

ARTICLE THE SECURITIES

ARTICLE 4 SATISFACTION AND DISCHARGE

ARTICLE 5 REMEDIES

ARTICLE 6 THE TRUSTEE

ARTICLE 7 HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

ARTICLE 8 CONSOLIDATION, AMALGAMATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

ARTICLE 9 SUPPLEMENTAL INDENTURES

ARTICLE 10 COVENANTS

ARTICLE 11 REDEMPTION OF SECURITIES

ARTICLE 12 SINKING FUNDS

ARTICLE 13 REPAYMENT AT OPTION OF HOLDERS

ARTICLE 14 DEFEASANCE AND COVENANT DEFEASANCE

ARTICLE 15 MEETINGS OF HOLDERS OF SECURITIES

CELESTICA INC. Reconciliation and tie between Trust Indenture Act of 1939 and Indenture

TABLE OF CONTENTSQuickLinks
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Exhibit 4.2.1  

 

  

CELESTICA INC.,
 as Company 

US$500,000,000 

77/8% Senior Subordinated Notes Due 2011 

First Supplemental Indenture

Dated
as of June 16, 2004 

to
the 

Indenture

Dated
as of June 16, 2004 

JPMORGAN CHASE BANK,
 as Trustee 

 

        This FIRST SUPPLEMENTAL INDENTURE dated as of June 16, 2004, is by and between Celestica Inc., an Ontario corporation (the
"Company") and JPMorgan Chase Bank, as trustee (the "Trustee"), to the Indenture, dated as of
June 16, 2004, between the Company and the Trustee (formerly, The Chase Manhattan Bank) (the "Base Indenture" and, together with this First
Supplemental Indenture, the "Indenture"). 

        The
Company and the Trustee have heretofore executed the Base Indenture, a form of which has been filed with the Securities and Exchange Commission under the Securities Act of 1933, as
amended, as Exhibit 4.1 to the Company's Registration Statement on Form F-3 (Registration No. 333-50240), providing for the issuance from time to
time of debt securities of the Company. 

        The
Company and the Trustee are hereby supplementing the Base Indenture pursuant to the provisions of Sections 3.01 and 9.01(6) of the Base Indenture to establish the form
and terms and conditions of the debt securities issued pursuant to this First Supplemental Indenture. The terms of this First Supplemental Indenture shall supplement and be incorporated in their
entirety with the terms of the Base Indenture solely with respect to the debt securities issued pursuant to the this First Supplemental Indenture. To the extent any terms of this First Supplemental
Indenture are contrary to or duplicative of terms contained in the Base Indenture, pursuant to Section 9.02 of the Base Indenture, the terms of this First Supplemental Indenture shall be deemed
to supersede the Base Indenture solely with respect to the debt securities issued pursuant to this First Supplemental Indenture. 

        The
Company and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the 77/8% Senior Subordinated Notes due
2011 (the "Notes") issued under this First Supplemental Indenture: 

 
 

ARTICLE 1.
  
    DEFINITIONS AND INCORPORATION BY REFERENCE    
    

        Section 1.01.
Definitions. 

        So
long as any of the Notes are outstanding, the following definitions shall be applicable to the Notes, shall be included as defined terms for all purposes under the Base Indenture with
respect to the Notes and, to the extent inconsistent with the definitions contained in Section 1.01 of the Base Indenture, shall replace such definitions solely with respect to the Notes.
Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Base
Indenture. For all purposes of this First Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

        "2004 Restructuring" means the Company's restructuring programs publicly announced prior to the Issue Date. 

        "Acquired Indebtedness" means Debt of any Person (i) which is outstanding at the time that such Person becomes a Restricted
Subsidiary or is amalgamated with, or merged or consolidated with or into, the Company or a Restricted Subsidiary; or (ii) which is outstanding at the time that assets of a Person are acquired
by the Company or a Restricted Subsidiary and the obligation for repayment of which is assumed by the Company or such Restricted Subsidiary in connection with the acquisition of such assets; in any
such case that is not Incurred by such Person in connection with, or in contemplation of, such amalgamation, merger, consolidation or acquisition and assumption. 

        "Additional Amounts" shall have the definition set forth under Section 4.19. All references in this First Supplemental Indenture to
payments of principal of, premium, if any, and interest on the Notes shall be deemed to include any applicable Additional Amounts that may become payable in respect of the Notes. 

        "Additional Assets" means: 

        (a)   any
Property (other than cash, Cash Equivalents and securities) to be owned by the Company or any Restricted Subsidiary and used in a Related Business; or 

 

        (b)   Capital
Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Company or another Restricted Subsidiary from
any Person other than the Company or an Affiliate of the Company; provided, however, that, in the case of this clause (b), such Restricted
Subsidiary is primarily engaged in a Related Business. 

        "Additional Notes" means any Notes (other than Initial Notes and Notes issued under Sections 3.04, 3.05 and 3.06 of the Base
Indenture and Sections 2.05 and 3.06 hereof) issued under this Indenture in accordance with Sections 2.02, 2.08 and 4.09 hereof, as part of the same series as the Initial Notes or
as an additional series. 

        "Affiliate" of any specified Person means: 

        (a)   any
other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person, or 

        (b)   any
other Person who is a director or officer of: 

        (1)   such
specified Person, 

        (2)   any
Subsidiary of such specified Person, or 

        (3)   any
Person described in clause (a) above. 

For the
purposes of this definition, "control," when used with respect to any 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. 

        "Agent" means any Security Registrar, co-Security Registrar, Paying Agent or additional paying agent. 

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

        "Asset Sale" means any sale, lease, transfer, issuance, conveyance or other disposition (or series of related sales, leases, transfers,
issuances or dispositions) by the Company or any Restricted Subsidiary, including any disposition by means of a merger, amalgamation, arrangement, consolidation or similar transaction (each referred
to for the purposes of this definition as a "disposition"), of 

        (a)   any
shares of Capital Stock of a Restricted Subsidiary (other than directors' qualifying shares), or 

        (b)   any
other Property of the Company or any Restricted Subsidiary outside of the ordinary course of business of the Company or such Restricted Subsidiary. 

        Notwithstanding
the foregoing, each of the following shall be deemed not to be an Asset Sale: 

        (1)   any
disposition by a Restricted Subsidiary to the Company or by the Company or a Restricted Subsidiary to a Wholly Owned Restricted Subsidiary, 

        (2)   any
disposition that constitutes a Permitted Investment or Restricted Payment permitted by Section 4.10, 

        (3)   any
disposition effected in compliance with Section 5.01, 

        (4)   any
disposition of assets in connection with a Receivables Program, 

        (5)   any
disposition of obsolete equipment consistent with industry practice, 

2

 

        (6)   any
disposition of Property in connection with the 2004 Restructuring, and 

        (7)   any
disposition in a single transaction or a series of related transactions of assets that have a Fair Market Value of less than US$10.0 million or for aggregate
consideration of less than US$10.0 million. 

        "Attributable Debt" in respect of a Sale and Leaseback Transaction means, at any date of determination, 

        (a)   if
such Sale and Leaseback Transaction is a Capital Lease Obligation, the amount of Debt represented thereby according to the definition of "Capital Lease Obligations,"
and 

        (b)   in
all other instances, the present value (discounted at the interest rate borne by the Notes, compounded annually) of the total obligations of the lessee for rental
payments during the remaining term of the lease included in such Sale and Leaseback Transaction (including any period for which such lease has been extended). 

        "Average Life" means, as of any date of determination, with respect to any Debt or Preferred Stock, the quotient obtained by dividing: 

        (a)   the
sum of the products of the numbers of years (rounded to the nearest one-twelfth of one year) from the date of determination to the respective dates of
each successive scheduled principal payment of such Debt or redemption or similar payment with respect to such Preferred Stock multiplied by the amount of such payment by 

        (b)   the
sum of all such payments. 

        "Bankruptcy Law" means Title 11, U.S. Code or any similar federal or state law for the relief of debtors, the  Bankruptcy and Insolvency Act (Canada), the
Companies' Creditors Arrangement Act (Canada) or any other
Canadian federal or provincial law or the law of any other jurisdiction relating to bankruptcy, insolvency, winding-up, liquidation, reorganization or relief of debtors. 

        "Board of Directors" means the board of directors of the Company or any committee of the board of directors of the Company acting within
the scope of the authority duly delegated to it by the board of directors of the Company and any reference to a majority of the Board of Directors shall be construed, where appropriate, to mean a
majority of such committee. 

        "Borrowing Base" means an amount equal to the sum of (i) 85% of the value of accounts receivable (before giving effect to any
related reserves) that are not more than 90 days past due reflected in the Company's most recent audited or unaudited consolidated balance sheet and (ii) 60% of the value of the
inventory reflected in the Company's most recent audited or unaudited consolidated balance sheet. 

        "Business Day" means any day other than a Legal Holiday. 

        "Capital Lease Obligations" means any obligation under a lease that is required to be capitalized for financial reporting purposes in
accordance with GAAP; and the amount of Debt represented by such obligation shall be the capitalized amount of such obligations determined in accordance with GAAP; and the Stated Maturity thereof
shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty. For
purposes of Section 4.11, a Capital Lease Obligation shall be deemed secured by a Lien on the Property being leased. 

        "Capital Stock" means, with respect to any Person, any shares or other equivalents (however designated) of any class of corporate stock or
partnership or trust interests or any other participations, rights, warrants, options or other interests in the nature of an equity interests in such Person, including Preferred Stock, but excluding
any debt security convertible or exchangeable into such equity interests. 

3

 

        "Capital Stock Sale Proceeds" means the aggregate cash proceeds received by the Company from the issuance or sale (other than to a
Subsidiary of the Company or an employee stock ownership plan or trust established by the Company or any such Subsidiary for the benefit of their employees, to the extent that such issuance or sale is
funded by contributions (not including contributions made in the form of payroll deductions) made by the Company or a Subsidiary under such plan or trust) by the Company of its Capital Stock (other
than Disqualified Stock) after the Issue Date, net of attorneys' fees, accountants' fees, underwriters' or placement agents' fees, discounts or commissions and brokerage, consultant and other fees
actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof. 

        "Cash Equivalents" means any of the following: 

        (a)   United States
dollars, Canadian dollars, Euros, Pounds Sterling or Japanese Yen; 

        (b)   securities
with maturities of one year or less from the date of acquisition issued or fully guaranteed by (i) the United States of America or any state,
commonwealth or territory thereof and rated "A-3" or "A–" or higher according to Moody's or S&P, (ii) Canada or any commonwealth, territory or province thereof and rated
in the "R-1" category by the Dominion Bond Rating Service Limited, (iii) any member of the European Economic Area or Switzerland, or any agency or instrumentality thereof, provided
that such country, agency or instrumentality has a credit rating at least equal to that of the United States of America and the full faith and credit of such country is pledged in support
thereof, or (iv) Japan, provided that the full faith and credit of Japan is pledged in support thereof; 

        (c)   certificates
of deposit and eurodollar time deposits with maturities of one year or less from the date of acquisition, bankers' acceptances with maturities not exceeding
one year and overnight bank deposits, in each case, with any commercial bank organized in the United States, Canada, any member of the European Economic Area, Switzerland or Japan and having
capital, and surplus in excess of US$500.0 million (or the foreign currency equivalent thereof); 

        (d)   repurchase
obligations with a term of not more than seven days for underlying securities of the types described in clauses (b) and (c) above entered into
with any financial institution meeting the qualifications specified in clause (c) above; 

        (e)   commercial
paper, having the highest rating obtainable from Moody's Investors Service, Inc. or Standard & Poor's Ratings Service and in each case maturing
within one year after the date of acquisition and, with respect to commercial paper in the United States, with a rating at the time as of which any Investment therein is made of
"P-1" (or higher) according to Moody's or "A-1" (or higher) according to S&P, and, with respect to commercial paper in Canada, having a rating in the "R-1" category
by the Dominion Bond Rating Service Limited; 

        (f)    money
market funds at least 90% of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (e) of this definition. 

        "Change of Control" means the occurrence of any of the following events: 

        (a)   for
so long as (i) the Company's Voting Stock is registered under Section 12 of the Securities Act, any Person, including its Affiliates and associates,
other than a Permitted Holder, files a Schedule 13D or a Schedule TO (or any successor schedule, form or report) under the Exchange Act disclosing that such person has become the
beneficial owner of more than 50% of the total number of votes attached to the Voting Stock of the Company, or (ii) the Voting Stock of the Company is listed on the Toronto Stock Exchange, any
offeror, as defined in the Ontario securities laws, other than a Permitted Holder, files a report with any securities commission or securities regulatory authority in Canada, disclosing that
the offeror has acquired beneficial ownership, as defined in Ontario securities laws, of or the power to exercise control or direction over more than 50% of the total number of votes attached to the
Voting Stock of the Company; and, in the case of either of the foregoing clauses (i) and (ii), thereafter, any "person" or "group" (as such terms are used in Sections 13(d)
and 14(d) of the Exchange Act or any successor provisions to either of the foregoing), including any group acting for the purpose of acquiring, holding, voting or disposing of securities within
the meaning of Rule 13d-5(b)(1) under the Exchange Act, other than a Permitted Holder, becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange
Act, except that a person will be deemed to have "beneficial ownership" of all shares that any such person has the right to acquire, whether such right is exercisable immediately or only after the
passage of time), directly or indirectly, of 50% or more of the total number of votes attached to the Voting Stock of the Company; or 

4

 

        (b)   the
sale, transfer, assignment, lease, conveyance or other disposition, directly or indirectly, of all or substantially all the Property of the Company and the
Restricted Subsidiaries, considered as a whole (other than a disposition of such Property as an entirety or virtually as an entirety to a Wholly Owned Restricted Subsidiary, shall have occurred, or
the Company effects an arrangement or merges, consolidates or amalgamates with or into any other Person or any other Person merges, consolidates or amalgamates with or into the Company, in any such
event pursuant to a transaction in which the outstanding Voting Stock of the Company is reclassified into or exchanged for cash, securities or other Property, other than any such transaction where: 

        (1)   the
outstanding Voting Stock of the Company is reclassified into or exchanged for other Voting Stock of the Company or for Voting Stock of the Surviving Person, and 

        (2)   the
holders of the Voting Stock of the Company immediately prior to such transaction own, directly or indirectly, not less than a majority of the Voting Stock of the
Company or the Surviving Person immediately after such transaction and in substantially the same proportion as before the transaction; or 

        (c)   during
any period of two consecutive years, individuals who at the beginning of such period constituted the Board of Directors (together with any new directors
(i) whose appointment by such Board or whose proposed nomination for election by the shareholders of the Company was included in a management information circular approved by a vote of not less
than a majority of the directors then still in office who were either directors at the beginning of such period or whose appointment or proposed nomination for election was previously so approved or
(ii) for whose election all Permitted Holders voted in favor) cease for any reason to constitute at least a majority of the Board of Directors then in office; or 

        (d)   the
shareholders of the Company shall have approved any plan of liquidation or dissolution of the Company. 

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

        "Comparable Treasury Price" means, with respect to any Redemption Date: 

        (a)   the
average of the bid and ask prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) on the third Business Day
preceding such Redemption Date, as set forth in the most recently published statistical release designated "H.15(519)" (or any successor release) published by the Board of Governors of the Federal
Reserve System and which establishes yields on actively traded United States treasury securities adjusted to constant maturity under the caption "Treasury Constant Maturities," or 

        (b)   if
such release (or any successor release) is not published or does not contain such prices on such Business Day, the average of the Reference Treasury Dealer Quotations
for such Redemption Date. 

        "Consolidated Cash Flow" means, for any period, an amount equal to, for the Company and its consolidated Restricted Subsidiaries: 

5

 

        (a)   the
sum of Consolidated Net Income for such period, plus the following to the extent reducing Consolidated Net Income for such period: 

        (1)   the
provision for taxes based on income or profits or utilized in computing net loss, 

        (2)   Consolidated
Fixed Charges, 

        (3)   depreciation, 

        (4)   amortization
of intangibles, and 

        (5)   restructuring
charges, write-downs and reserves taken by the Company or its Restricted Subsidiaries during such period,  provided that: 

        (A)  up
to a maximum aggregate amount of US$213.3 million of restructuring charges payable in cash taken in connection with the 2004 Restructuring may be included in
Consolidated Cash Flow for all periods if incurred on or prior to June 30, 2005 (and such charges in excess of such amount or incurred after such date shall not be so included); and 

        (B)  up
to a maximum aggregate amount of US$50.0 million of restructuring charges payable in cash taken in connection with any restructuring plans announced after the
Issue Date may be included in Consolidated Cash Flow during the respective periods in which such charges are taken, 

        (6)   any
other non-cash items (other than any such non-cash item to the extent that it represents an accrual of, or reserve for, cash expenditures in
any future period), minus 

        (b)   all
non-cash items increasing Consolidated Net Income for such period (other than any such non-cash item to the extent that it will result in the
receipt of cash payments in any future period). 

Notwithstanding
the foregoing clause (a), the provision for taxes and the depreciation, amortization and non-cash items of a Restricted Subsidiary shall be added to Consolidated Net
Income to compute Consolidated Cash Flow only to the extent (and in the same proportion) that the net income of such Restricted Subsidiary was included in calculating Consolidated Net Income and only
if a corresponding amount would be permitted at the date of determination to be dividended to the Company by such Restricted Subsidiary without prior approval (that has not been obtained), pursuant to
the terms of its charter and all agreements, instruments, judgments, decrees, orders, statutes, rules and governmental regulations applicable to such Restricted Subsidiary or its shareholders. 

        "Consolidated Fixed Charge Coverage Ratio" means, as of any date of determination, the ratio of: 

        (a)   the
aggregate amount of Consolidated Cash Flow for the most recent four consecutive fiscal quarters for which internal financial statements are available to 

        (b)   Consolidated
Fixed Charges for such four fiscal quarters; 

provided, however, that: 

        (1)   if

        (A)  since
the beginning of such period the Company or any Restricted Subsidiary has Incurred any Debt that remains outstanding or Repaid any Debt, or 

        (B)  the
transaction giving rise to the need to calculate the Consolidated Fixed Charge Coverage Ratio is an Incurrence or Repayment of Debt, 

6

 

Consolidated
Fixed Charges for such four-quarter period shall be calculated after giving effect on a pro forma basis to such
Incurrence or Repayment as if such Debt was Incurred or Repaid on the first day of such four-quarter period, provided that, in the event of
any such Repayment of Debt, Consolidated Cash Flow for such period shall be calculated as if the Company or such Restricted Subsidiary had not earned any interest income actually earned during such
period in respect of the funds used to Repay such Debt, and 

        (2)   if

        (A)  since
the beginning of such period the Company or any Restricted Subsidiary shall have made any Asset Sale or an Investment (by merger or otherwise) in any Restricted
Subsidiary (or any Person that becomes a Restricted Subsidiary) or an acquisition of Property which constitutes all or substantially all of an operating unit of a business, 

        (B)  the
transaction giving rise to the need to calculate the Consolidated Fixed Charge Coverage Ratio is such an Asset Sale, Investment or acquisition, or 

        (C)  since
the beginning of such period any Person (that subsequently became a Restricted Subsidiary or was merged or amalgamated with or into the Company or any Restricted
Subsidiary since the beginning of such period) shall have made such an Asset Sale, Investment or acquisition, 

then
Consolidated Cash Flow for such four-quarter period shall be calculated after giving pro forma effect to such Asset Sale,
Investment or acquisition as if such Asset Sale, Investment or acquisition had occurred on the first day of such four-quarter period. 

        If
any Debt bears a floating rate of interest and is being given pro forma effect, the interest expense on such Debt shall be
calculated as if the base interest rate in effect for such floating rate of interest on the date of determination had been the applicable base interest rate for the entire period (taking into account
any Interest Rate Agreement applicable to such Debt if such Interest Rate Agreement has a remaining term in excess of 12 months). In the event the Capital Stock of any Restricted Subsidiary is
sold during the period, the Company shall be deemed, for purposes of clause (1) above, to have Repaid during such period the Debt of such Restricted Subsidiary to the extent the Company
and its continuing Restricted Subsidiaries are no longer liable for such Debt after such sale. 

        "Consolidated Fixed Charges" means, for any period, the total interest expense of the Company and its consolidated Restricted
Subsidiaries, plus, to the extent not included in such total interest expense, and to the extent Incurred by the Company or its Restricted Subsidiaries, 

        (a)   interest
expense attributable to leases constituting part of a Sale and Leaseback Transaction and to Capital Lease Obligations, 

        (b)   amortization
of debt discount and debt issuance cost, including commitment fees (for greater certainty, excluding the Existing Convertible Securities), 

        (c)   capitalized
interest, 

        (d)   non-cash
interest expense, 

        (e)   commissions,
discounts and other fees and charges owed with respect to letters of credit and banker's acceptance financing, 

        (f)    the
net effective cost of interest after giving effect to Interest Rate Agreements (including amortization of fees but not any income or loss resulting from the
marked-to-market value of such Interest Rate Agreements), 

7

 

        (g)   Disqualified
Stock Dividends, 

        (h)   Preferred
Stock Dividends, 

        (i)    interest
Incurred in connection with Investments in discontinued operations, 

        (j)    interest
accruing on any Debt of any other Person to the extent such Debt is Guaranteed by the Company or any Restricted Subsidiary, and 

        (k)   the
cash contributions to any employee stock ownership plan or similar trust to the extent such contributions are used by such plan or trust to pay interest or fees to
any Person (other than the Company) in connection with Debt Incurred by such plan or trust. 

        "Consolidated Net Income" means, for any period, the net income (loss) of the Company and its consolidated Restricted Subsidiaries;  provided, however, that there shall
not be included in such Consolidated Net Income: 

        (a)   any
net income of any Person (other than the Company) if such Person is not a Restricted Subsidiary, except that, subject to the exclusion contained in clause (d)
below, equity of the Company and its Consolidated Restricted Subsidiaries in the net income of any such Person for such period shall be included in such Consolidated Net Income up to the aggregate
amount of cash distributed by such Person during such period to the Company or a Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend or other distribution to
a Restricted Subsidiary, to the limitations contained in clause (c) below), 

        (b)   any
net income of any Restricted Subsidiary if such Restricted Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the making
of distributions, directly or indirectly, to the Company, except that, subject to
the exclusion contained in clause (c) below, the equity of the Company and its Consolidated Restricted Subsidiaries in the net income of any such Restricted Subsidiary for such period shall be
included in such Consolidated Net Income up to the greater of (i) the aggregate amount of cash actually distributed by such Restricted Subsidiary during such period to the Company or another
Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend or other distribution to another Restricted Subsidiary, to the limitation contained in this
clause (b)) and (ii) the aggregate amount of cash that could have been distributed by such Restricted Subsidiary during such period to the Company or another Restricted Subsidiary as a
dividend or other distribution (subject, in the case of a dividend or other distribution to another Restricted Subsidiary, to the limitation contained in this clause(b)), 

        (c)   any
gain or loss realized upon the sale or other disposition of any Property of the Company or any of its consolidated Subsidiaries (including pursuant to any Sale and
Leaseback Transaction) that is not sold or otherwise disposed of in the ordinary course of business, 

        (d)   any
unusual, non-recurring or extraordinary gain or loss, 

        (e)   any
non-cash restructuring charges, 

        (f)    the
cumulative effect of a change in accounting principles, and 

        (g)   any
non-cash compensation expense realized for grants of performance shares, stock options or other rights to officers, directors and employees of the
Company or any Restricted Subsidiary, provided that such shares, options or other rights can be redeemed at the option of the holder only for Capital
Stock of the Company (other than Disqualified Stock). 

        Notwithstanding
the foregoing, for purposes of Section 4.10 only, there shall be excluded from Consolidated Net Income any dividends, repayments of loans or advances or other
transfers of Property from Unrestricted Subsidiaries to the Company or a Restricted Subsidiary to the extent such dividends, repayments or transfers increase the amount of Restricted Payments
permitted pursuant to Section 4.10(a)(iii)(D) thereof. 

8

 

        "Credit Agreement" means the Third Amended and Restated Revolving Term Credit Agreement, made as of June 4, 2004, among the
Company, the Subsidiaries specified as Designated Subsidiaries therein, CIBC World Markets, as Joint Lead Arranger, RBC Capital Markets, as Joint Lead Arranger and Co-Syndication Agent,
Canadian Imperial Bank of Commerce, as Administrative Agent, The Bank of Nova Scotia, as Documentation Agent, Banc of America Securities LLC, as Co-Syndication Agent and the Lenders
named therein. 

        "Credit Facilities" means, with respect to the Company or any Restricted Subsidiary, one or more debt or commercial paper facilities with
banks or other institutional lenders (including the Credit Agreement) providing for revolving credit loans, term loans, receivables or inventory financing (including through the sale of receivables or
inventory to such lenders or to special purpose, bankruptcy remote entities formed to borrow from such lenders against such receivables or inventory) or trade or standby letters of credit, in each
case as any such facility may be revised, restructured or Refinanced from time to time, including to extend the maturity thereof, to increase the amount of commitments thereunder
(provided that any such increase is permitted under Section 4.09), or to add Restricted Subsidiaries as additional borrowers or guarantors
thereunder, whether by the same or any other agent, lender or group of lenders or investors and whether such revision, restructuring or Refinancing is under one or more Debt facilities or commercial
paper facilities, indentures or other agreements, in each case with banks or other institutional lenders or trustees or investors providing for revolving credit loans, term loans, notes or letters of
credit, together with documents related thereto (including, without limitation, any guaranty agreements and security documents). 

        "Currency Exchange Protection Agreement" means, in respect of a Person, any foreign exchange contract, currency swap agreement, currency
option or other similar agreement or arrangement designed to protect such Person against fluctuations in currency exchange rates. 

        "Custodian" means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in
Section 2.03(a) as Custodian with respect to the Notes, and any and all successors thereto appointed as custodian hereunder and having become such pursuant to the applicable provisions of this
Indenture. 

        "Debt" means, with respect to any Person on any date of determination (without duplication): 

        (a)   the
principal of and premium (if any) in respect of: 

        (1)   debt
of such Person for money borrowed, and 

        (2)   debt
evidenced by notes, debentures, bonds or other similar instruments for the payment of which such Person is responsible or liable; 

        (b)   all
Capital Lease Obligations of such Person and all Attributable Debt in respect of Sale and Leaseback Transactions entered into by such Person; 

        (c)   all
obligations of such Person representing the deferred purchase price of Property, all conditional sale obligations of such Person and all obligations of such Person
under any title retention agreement (but excluding trade accounts payable arising in the ordinary course of business); 

        (d)   all
obligations of such Person for the reimbursement of any obligor on any letter of credit, banker's acceptance or similar credit transaction (other than obligations
with respect to letters of credit securing obligations (other than obligations described in (a) through (c) above) entered into in the ordinary course of business of such Person to the
extent such letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed or Refinanced no later than the third Business Day following receipt by such Person of
a demand for reimbursement following payment on the letter of credit); 

9

 

        (e)   the
amount of all obligations of such Person with respect to the Repayment of any Disqualified Stock or, with respect to any Subsidiary of such Person, any Preferred
Stock (but excluding, in each case, any accrued dividends); 

        (f)    all
obligations of the type referred to in clauses (a) through (e) above of other Persons and all dividends of other Persons for the payment of which, in
either case, such Person is responsible or liable, directly or indirectly, as obligor, guarantor or otherwise, including by means of any Guarantee; 

        (g)   all
obligations of the type referred to in clauses (a) through (f) above of other Persons secured by any Lien on any Property of such Person (whether or
not such obligation is assumed by such Person), the amount of such obligation being deemed to be the lesser of the Fair Market Value of such Property and the amount of the obligation so secured; and 

        (h)   to
the extent not otherwise included in this definition, Hedging Obligations of such Person, 

in
each case, if and to the extent any of the foregoing items, other than letters of credit and Hedging Obligations, would appear as a liability on the balance sheet of such Person prepared in
accordance with GAAP. The amount of Debt of any Person at any date shall be the outstanding balance, or the accreted value of such Debt in the case of Debt issued with original issue discount, at such
date of all unconditional obligations as described above and the maximum liability, upon the occurrence of the contingency giving rise to the obligation, of any contingent obligations at such date.
The amount of Debt represented by a Hedging Obligation shall be equal to: 

        (1)   zero
if such Hedging Obligation has been Incurred pursuant to clause (vii) or (viii) of Section 4.09(b), or 

        (2)   the
notional amount of such Hedging Obligation if not Incurred pursuant to such clauses. 

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

        "Definitive Note" means a certificated Note registered in the name of the Holder thereof and issued in accordance with Section 2.05
hereof, in substantially the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not have the "Schedule of Exchanges of Interests in the Global
Note" attached thereto. 

        "Designated Senior Debt" means: 

        (a)   any
Senior Debt that has, at the time of determination, an aggregate principal amount outstanding (or accreted value in the case of Debt issued at a discount) of at
least US$25.0 million (including the amount of all undrawn commitments and matured and contingent reimbursement obligations pursuant to letters of credit thereunder) that is specifically
designated in the instrument evidencing such Senior Debt and is designated in a notice delivered by the Company to the holders or a Representative of the holders of such Senior Debt and in an
Officers' Certificate delivered to the Trustee as "Designated Senior Debt" of the Company for purposes of this First Supplemental Indenture, and 

        (b)   any
Senior Debt outstanding under Credit Facilities, including the Credit Agreement. 

        "Disqualified Stock" means any Capital Stock of the Company or any of its Restricted Subsidiaries that by its terms (or by the terms of
any security into which it is convertible or for which it is exchangeable, in either case at the option of the holder thereof) or otherwise: 

        (a)   matures
or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise, 

        (b)   is
or may become redeemable or repurchaseable at the option of the holder thereof, in whole or in part, or 

10

 

        (c)   is
convertible or exchangeable at the option of the holder thereof for cash, Debt or Disqualified Stock, 

on
or prior to, in the case of clause (a), (b) or (c), more than three months following the Stated Maturity of the Notes. Notwithstanding the foregoing, any Capital Stock that would
constitute Disqualified Stock solely because the holders of the Capital Stock have the right to require the Company to repurchase such Capital Stock upon the occurrence if a change of control or asset
sale will not constitute Disqualified Stock if the terms of such Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such provisions unless such
repurchase or redemption complies with Section 4.10. 

        "Disqualified Stock Dividends" means all dividends with respect to Disqualified Stock of the Company held by Persons other than a Wholly
Owned Restricted Subsidiary. The amount of any such dividend shall be equal to the quotient of such dividend divided by the difference between one and the maximum statutory federal income tax rate
(expressed as a decimal number between 1 and 0) then applicable to the Company. 

        "Event of Default" has the meaning set forth under Section 6.01. 

        "Existing Convertible Securities" means the Liquid Yield Option Notes due 2020 of the Company in aggregate principal amount at maturity
outstanding and as in effect on the Issue Date. 

        "Fair Market Value" means, with respect to any Property, the price that could be negotiated in an arm's-length free market transaction,
for cash, between a willing seller and a willing buyer, neither of whom is under undue pressure or compulsion to complete the transaction. Fair Market Value shall be determined, except as otherwise
provided, 

        (a)   if
such Property has a Fair Market Value equal to or less than US$25.0 million, by any Officer of the Company, or 

        (b)   if
such Property has a Fair Market Value in excess of US$25.0 million, by at least a majority of the Board of Directors and evidenced by a Board Resolution dated
within 30 days of the relevant transaction, delivered to the Trustee. 

        "GAAP" means generally accepted accounting principles as in effect in Canada on the Issue Date. 

        "Global Note Legend" means the legend set forth in Section 2.05(b), which is required to be placed on all Global Notes issued under
this Indenture. 

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

        "Guarantee" means, in respect of any Person, any obligation, contingent or otherwise, of such Person directly or indirectly guaranteeing
any Debt of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 

        (a)   to
purchase or pay (or advance or supply funds for the purchase or payment of) such Debt of such other Person (whether arising by virtue of partnership arrangements, or
by agreements to keep-well, to purchase assets, goods, securities or services, to take-or-pay or to maintain financial statement conditions or otherwise), or 

        (b)   entered
into for the purpose of assuring in any other manner the obligee against loss in respect thereof (in whole or in part); 

provided, however, that the term "Guarantee" shall not include: 

        (1)   endorsements
for collection or deposit in the ordinary course of business, or 

11

 

        (2)   a
contractual commitment by one Person to invest in another Person for so long as such Investment is reasonably expected to constitute a Permitted Investment under
clause (a), (b) or (c) of the definition of "Permitted Investment." 

The
term "Guarantee" used as a verb has a corresponding meaning. The term "Guarantor" shall mean any Person Guaranteeing any obligation. 

        "Hedging Obligation" of any Person means any obligation of such Person pursuant to any Interest Rate Agreement, Currency Exchange
Protection Agreement or any other similar agreement or arrangement. 

        "Incur" means, with respect to any Debt or other obligation of any Person, to create, issue, incur (by merger, conversion, exchange or
otherwise), extend, assume, Guarantee or become liable in respect of such Debt or other obligation or the recording, as required pursuant to GAAP or otherwise, of any such Debt or obligation on the
balance sheet of such Person (and "Incurrence" and "Incurred" shall have meanings correlative to the foregoing); provided, however, that a change in
GAAP that results in an obligation of such Person that exists at such time, and is not theretofore classified as Debt, becoming Debt shall not be deemed an Incurrence of such Debt;  provided further,
however, that any Debt or other obligations of a Person existing at the time such
Person becomes a Subsidiary (whether by merger, amalgamation, arrangement, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Subsidiary at the time it becomes a
Subsidiary; and provided further, however, that solely for purposes of determining compliance with Section 4.09, amortization of debt discount
shall not be deemed to be the Incurrence of Debt, provided that in the case of Debt sold at a discount, the amount of such Debt Incurred shall at all
times be the aggregate principal amount at Stated Maturity. 

        "Independent Investment Banker" means one of the Reference Treasury Dealers appointed by the Company. 

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

        "Initial Notes" means $500.0 million aggregate principal amount of Notes issued under this First Supplemental Indenture on the date
hereof. 

        "Interest Payment Dates" shall have the meaning set forth in paragraph 1 of a Note. 

        "Interest Rate Agreement" means, for any Person, any interest rate swap agreement, interest rate cap agreement, interest rate collar
agreement or other similar agreement designed to protect against fluctuations in interest rates. 

        "Investment" by any Person means any direct or indirect loan (other than advances to customers in the ordinary course of business that are
recorded as accounts receivable on the balance sheet of such Person), advance or other extension of credit or capital contribution (by means of transfers of cash or other Property to others or
payments for Property or services for the account or use of others, or otherwise) to, or Incurrence of a Guarantee of any obligation of, or purchase or acquisition of Capital Stock, bonds, notes,
debentures or other securities or evidence of Debt issued by, any other Person. For purposes of Sections 4.10 and 4.16 and the definition of "Restricted Payment," the term "Investment"
shall include (a) upon the issuance, sale or other disposition of Capital Stock of any Restricted Subsidiary to a Person other than the Company or another Restricted Subsidiary as a result of
which such Restricted Subsidiary ceases to be a Restricted Subsidiary, the Fair Market Value of the remaining interest, if any, in such former Restricted Subsidiary held by the Company or such other
Restricted Subsidiary, and (b) at the time that a Subsidiary of the Company is designated an Unrestricted Subsidiary, the portion (proportionate to the Company's equity interest in such
Subsidiary) of the Fair Market Value of the net assets of such Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a
Restricted Subsidiary, the Company shall be deemed to continue to have a permanent "Investment" in an Unrestricted Subsidiary of an amount (if positive) equal to: 

12

  

        (a)   the
Company's "Investment" in such Subsidiary at the time of such redesignation, less 

        (b)   the
portion (proportionate to the Company's equity interest in such Subsidiary) of the Fair Market Value of the net assets of such Subsidiary at the time of such
redesignation. 

In
determining the amount of any Investment made by transfer of any Property other than cash, such Property shall be valued at its Fair Market Value at the time of such Investment. For purposes of
Section 4.12, "Investment" shall include the entering into of a binding agreement to make an Investment. 

        "Investment Grade Rating" means a rating equal to or higher than Baa3 (or the equivalent) by Moody's and BBB– (or the
equivalent) by S&P. 

        "Investment Grade Status" shall be deemed to have been reached on the date that the Notes have an Investment Grade Rating from both Rating
Agencies. 

        "Issue Date" means June 16, 2004. 

        "Legal Holiday" means a Saturday, a Sunday or a day on which banks and trust companies in the City of New York, the City of
Toronto, the city in which the Corporate Trust Office of the Trustee is located or any other place of payment on the Notes are authorized by law, regulation or executive order to remain closed. 

        "Lien" means, with respect to any Property of any Person, any mortgage or deed of trust, pledge, hypothecation, assignment, deposit
arrangement, security interest, lien, charge, encumbrance, preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever on or with respect to such
Property (including any Capital Lease Obligation, conditional sale or other title retention agreement having substantially the same economic effect as any of the foregoing or any Sale and Leaseback
Transaction). 

        "Moody's" means Moody's Investors Service, Inc. or any successor to the rating agency business thereof. 

        "Net Available Cash" from any Asset Sale means cash payments received therefrom (including any cash payments received by way of deferred
payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring
Person of Debt or other obligations relating to the Property that is the subject of such Asset Sale or received in any other non-cash form (except to the extent converted into cash)), in
each case net of: 

        (a)   all
direct costs relating to the Asset Sale, including, without limitation, all legal, title and recording tax expenses, commissions and other fees and expenses
incurred, and all Federal, state, provincial, foreign and local taxes required to be accrued as a liability under GAAP, as a consequence of such Asset Sale, 

        (b)   all
payments made on or in respect of any Debt that is secured by any Property subject to such Asset Sale, in accordance with the terms of any Lien upon such Property,
or which must by its terms, or in order to obtain a necessary consent to such Asset Sale, or by applicable law, be repaid out of the proceeds from such Asset Sale, 

        (c)   all
distributions and other payments required to be made to minority interest holders in Subsidiaries or joint ventures as a result of such Asset Sale, and 

        (d)   the
deduction of appropriate amounts provided by the seller as a reserve, in accordance with GAAP, against any liabilities associated with the Property disposed of in
such Asset Sale and retained by the Company or any Restricted Subsidiary after such Asset Sale. 

        "Officer" means the Chief Executive Officer, the President, the Chief Financial Officer, any Executive Vice President or any Senior Vice
President of the Company. 

13

 

        "Officers' Certificate" means a certificate signed by two Officers of the Company, at least one of whom shall be the Chief Executive
Officer, Chief Financial Officer or Corporate Treasurer of the Company, and delivered to the Trustee. 

        "Opinion of Counsel" means a written opinion from legal counsel who is acceptable to the Trustee, acting reasonably. The counsel may be
General Counsel to the Company. 

        "Participant" means, with respect to the Depositary, a Person who has an account with the Depositary. 

        "Permitted Holder" means Onex Corporation and its Affiliates and successors. 

        "Permitted Investment" means any Investment by the Company or a Restricted Subsidiary in: 

        (a)   the
Company or any Restricted Subsidiary, 

        (b)   any
Person that will, upon the making of such Investment, become a Restricted Subsidiary, provided that the primary
business of such Restricted Subsidiary is a Related Business; 

        (c)   any
Person if as a result of such Investment such Person is merged, amalgamated or consolidated with or into, or transfers or conveys all or substantially all its
Property to, the Company or a Restricted Subsidiary, provided that such Person's primary business is a Related Business; 

        (d)   Cash
Equivalents; 

        (e)   receivables
owing to the Company or a Restricted Subsidiary, if created or acquired in the ordinary course of business and payable or dischargeable in accordance with
customary trade terms; provided, however, that such trade terms may include such concessionary trade terms as the Company or such Restricted Subsidiary
deems reasonable under the circumstances; 

        (f)    payroll,
travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and
that are made in the ordinary course of business; 

        (g)   loans
and advances to employees made in the ordinary course of business consistent with past practices of the Company or such Restricted Subsidiary, as the case may be;  provided that such loans and advances,
excluding loans to employees identified in the Company's annual report on Form 20-F
for the year ended December 31, 2003, do not exceed US$2.0 million in the aggregate at any one time outstanding; 

        (h)   stock,
obligations or other securities received in settlement of debts created in the ordinary course of business and owing to the Company or a Restricted Subsidiary or
in satisfaction of judgments; 

        (i)    any
Person to the extent such Investment represents the non-cash portion of the consideration received in connection with an Asset Sale consummated in
compliance with Section 4.12; 

        (j)    Permitted
Joint Ventures and suppliers of the Company or a Restricted Subsidiary that do not exceed 10% of Total Assets in the aggregate outstanding at any one time; 

        (k)   Hedging
Obligations Incurred in accordance with clause (vii) or (viii) of Section 4.09(b); 

        (l)    assets
solely in exchange for Capital Stock, other than Disqualified Stock, of the Company; and 

        (m)  other
Investments made for Fair Market Value (measured on the date of such Investment) that do not exceed US$100.0 million in the aggregate outstanding at any one
time. 

14

 

        "Permitted Joint Venture" means any Person which is, directly or indirectly, engaged principally in a Related Business, and the capital
stock, or securities convertible into capital stock, of which is owned by the Company and one or more Persons other than the Company or any of its Affiliates. 

        "Permitted Junior Securities" means: 

        (a)   Capital
Stock in the Company; or 

        (b)   debt
securities that are subordinated to all Senior Debt and debt securities that are issued in exchange for Senior Debt and are subordinated to substantially the same
extent as, or to a greater extent than, the Notes are subordinated to Senior Debt under the Senior Indenture. 

        "Permitted Liens" means any one or more of the following with respect to the assets of the Company or any Restricted Subsidiary: 

        (a)   inchoate
or statutory Liens for taxes, assessments and other governmental charges or levies which are not delinquent (taking into account any relevant grace periods) or
the validity of which are currently being contested in good faith by appropriate proceedings and in respect of which there shall have been set aside a provision or reserve (to the extent required by
GAAP) in an amount which is adequate therefor; 

        (b)   inchoate
or statutory Liens of contractors, sub-contractors, mechanics, workers, suppliers, materialmen, carriers and others in respect of construction,
maintenance, repair or operation of assets of the Company or the relevant Restricted Subsidiary, or otherwise arising in the ordinary course provided that such Liens are related to obligations not due
or delinquent (taking into account any applicable grace or cure periods), are not registered as encumbrances against title to any of the assets of the Company or the relevant Restricted Subsidiary and
adequate holdbacks are being maintained as required by applicable legislation or such Liens are being contested in good faith by appropriate proceedings and in respect of which there shall have been
set aside a provision or reserve (to the extent required by GAAP) in an amount which is adequate with respect thereto and provided further that such Liens do not, in the aggregate, materially detract
from the value of the assets of the Company or any Restricted Subsidiary encumbered thereby or materially interfere with the use thereof in the operation of the business of the Company or any
Restricted Subsidiary; 

        (c)   easements,
rights-of-way, servitudes, restrictions and similar rights in real property comprised in the assets of the Company or the relevant
Restricted Subsidiary or interests therein granted or reserved to other persons, provided that such rights do not, in the aggregate, materially detract from the value of the assets of the Company or
any Restricted Subsidiary or materially interfere with the use thereof in the operation of the business of the Company or any Restricted Subsidiary; 

        (d)   title
defects or irregularities which are of a minor nature and which do not, in the aggregate, materially detract from the value of the assets of the Company or any
Restricted Subsidiary or materially interfere with the use thereof in the operation of the business of the Company or any Restricted Subsidiary; 

        (e)   Liens
incidental to the conduct of the business or the ownership of the assets of the Company or the relevant Restricted Subsidiary (other than those described in
clauses (f) and (g) below) which were not incurred in connection with the borrowing of money or the obtaining of advances of credit (including, without limitation, unpaid purchase
price), and
which do not, in the aggregate, materially detract from the value of the assets of the Company or any Restricted Subsidiary or materially interfere with the use thereof in the operation of the
business of the Company or any Restricted Subsidiary; 

        (f)    Liens
securing appeal bonds or other similar Liens arising in connection with court proceedings (including, without limitation, surety bonds, security for costs of
litigation where required by law and letters of credit) or any other instrument serving a similar purpose; 

15

 

        (g)   attachments,
judgments and other similar Liens arising in connection with court proceedings; provided, however, that such Liens are in existence for less than
30 days after the entry thereof or the execution or other enforcement of such Liens is effectively stayed and the claims secured thereby are being actively contested in good faith and by
appropriate proceedings; 

        (h)   Liens
given to a public utility or any municipality or governmental or other public authority when required by such utility or other authority in connection with the
operation of the business or the ownership of the assets of the Company or the relevant Restricted Subsidiary, provided that such Liens do not have a material adverse effect on (i) the
business, assets, operations, prospects or condition, financial or otherwise, of the Company and of the Restricted Subsidiaries, taken as a whole, or (ii) the ability of the Company to perform
any of its obligations under the Notes or this Indenture, or (iii) the rights of the Trustee or the Holders; 

        (i)    the
right reserved to or vested in any governmental entity by any statutory provision or by the terms of any lease, license, franchise, grant or permit of any of the
Company or the relevant Restricted Subsidiary, to terminate any such lease, license, franchise, grant or permit, or to require annual or other payments as a condition to the continuance thereof; 

        (j)    the
extension, renewal or refinancing of any Permitted Lien, provided that the amount so secured does not exceed the original amount secured immediately prior to such
extension, renewal or refinancing; 

        (k)   Liens
granted over the assets securitized in connection with any Receivables Program; 

        (l)    Liens
granted by the Company and/or any Restricted Subsidiary pursuant to future subsidized financing by development entities; 

        (m)  the
interest of lessors (including, without limitation, security interests granted in favor of lessors) pursuant to all leases, including Capital Lease Obligations,
under which the Company or the relevant Restricted Subsidiary is the lessee; 

        (n)   Liens
granted to secure Acquired Indebtedness, to the extent that (i) such Liens exist at the time such person or the assets subject to such Lien are acquired by
the Company or a Restricted Subsidiary; (ii) such Liens were not created in contemplation of the transaction by which the subject Debt became Acquired Indebtedness; and (iii) such Liens
either (A) only extend to the assets acquired or the assets of the Person acquired, as applicable, in the transaction pursuant to which the Acquired Indebtedness became an obligation of a
borrower under the Credit Agreement or a Restricted Subsidiary or (B) are discharged within 60 days of such acquisition; 

        (o)   Liens
of the nature contemplated in clauses (b), (c), (d) or (e) above, but exceeding the materiality thresholds specified therein, securing Debt in an
aggregate amount not to exceed US$25.0 million; 

        (p)   pledges
or deposits by the Company or any Restricted Subsidiary under workers' compensation laws, unemployment insurance laws or similar legislation, or good faith
deposits in connection with bids, tenders, contracts (other than the payment of Debt) or leases to which the Company or any Restricted Subsidiary is party, or deposits to secure public or statutory
obligations of the Company, or deposits for the payment of rent, in each case Incurred in the ordinary course of business; 

        (q)   Liens
existing on the Issue Date not otherwise described in clauses (a) through (p) above; and 

        (r)   Liens
not otherwise described in clauses (a) through (q) above in an aggregate amount not to exceed US$25.0 million. 

16

 

        "Permitted Refinancing Debt" means any Debt that Refinances any other Debt, including any successive Refinancings, so long as: 

        (a)   such
Debt is in an aggregate principal amount (or if Incurred with original issue discount, an aggregate issue price) not in excess of the sum of: 

        (1)   the
aggregate principal amount (or if Incurred with original issue discount, the aggregate accreted value) then outstanding of the Debt being Refinanced, and 

        (2)   an
amount necessary to pay any fees and expenses, including premiums and defeasance costs, related to such Refinancing, 

        (b)   the
Average Life of such Debt is equal to or greater than the Average Life of the Debt being Refinanced, 

        (c)   the
Stated Maturity of such Debt is no earlier than the Stated Maturity of the Debt being Refinanced, and 

        (d)   the
new Debt shall not be senior in right of payment to the Debt that is being Refinanced; 

provided, however, that Permitted Refinancing Debt shall not include: 

        (x)   Debt
of a Subsidiary that Refinances Debt of the Company, or 

        (y)   Debt
of the Company or a Restricted Subsidiary that Refinances Debt of an Unrestricted Subsidiary. 

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

        "Preferred Stock" means any Capital Stock of a Person, however designated, which entitles the holder thereof to a preference with respect
to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over shares of any other class of Capital Stock issued by
such Person. 

        "Preferred Stock Dividends" means all dividends with respect to Preferred Stock of Restricted Subsidiaries held by Persons other than the
Company or a Wholly Owned Restricted Subsidiary. The amount of any such dividend shall be equal to the quotient of such dividend divided by the difference between one and the maximum statutory federal
income rate (expressed as a decimal number between 1 and 0) then applicable to the issuer of such Preferred Stock. 

        "pro forma" means, with respect to any calculation made or required to be made pursuant to the terms hereof, a calculation
performed in accordance with Article 11 of Regulation S-X promulgated under the Securities Act, as interpreted in good faith by the Board of Directors after consultation with
the independent certified public accountants of the Company, or otherwise a calculation made in good faith by the Board of Directors after consultation with the independent certified public
accountants of the Company, as the case may be. 

        "Property" means, with respect to any Person, any interest of such Person in any kind of property or asset, whether real, personal or
mixed, or tangible or intangible, including Capital Stock in, and other securities of, any other Person. For purposes of any calculation required pursuant to this Indenture, the value of any Property
shall be its Fair Market Value. 

        "Public Equity Offering" means an underwritten public offering of common stock of the Company pursuant to an effective registration
statement under the Securities Act. 

17

 

        "Purchase Money Debt" means Debt: 

        (a)   consisting
of the deferred purchase price of Property, conditional sale obligations, obligations under any title retention agreement, other purchase money obligations
and obligations in respect of industrial revenue bonds, in each case where the maturity of such Debt does not exceed the anticipated useful life of the Property being financed, and 

        (b)   Incurred
to finance the acquisition, construction or lease by the Company or a Restricted Subsidiary of such Property, including additions and improvements thereto; 

provided, however, that such Debt is Incurred within 180 days after the acquisition, construction or lease of such Property by the Company or
such Restricted Subsidiary. 

        "Rating Agencies" means Moody's and S&P. 

        "Receivables Program" means, with respect to any Person, an agreement or other arrangement or program providing for payment (by way of
cash transfer, set-off or credit) to such Person against or in respect of the pledge, contribution, sale, lease or other transfer or encumbrances from time to time or on a
one-time basis of interests in Receivables Program Assets of such Person or such Person and/or one or more of its Subsidiaries, in each case as any such facility may be revised,
restructured or Refinanced from time to time. 

        "Receivables Program Assets" means all of the following Property and interests in Property, including any undivided interest in any pool
of any such Property or interests, whether now existing or existing in the future or hereafter arising or acquired: 

        (1)   accounts;

        (2)   accounts
receivable, general intangibles, instruments, contract rights, documents and chattel paper (including, without limitation, all rights to payment created by or
arising from sales of goods or merchandise, leases of goods or merchandise or the rendition of services, no matter how evidenced, whether or not earned by performance); 

        (3)   all
unpaid sellers' or lessors' rights (including, without limitation, rescission, replevin, reclamation and stoppage in transit) relating to any of the foregoing or
arising therefrom; 

        (4)   all
rights to any goods or merchandise represented by any of the foregoing; 

        (5)   all
reserves and credit balances with respect to any accounts receivable or account debtors; 

        (6)   all
letters of credit, security interests or Guarantees in respect of any of the foregoing; 

        (7)   all
insurance policies or reports relating to any of the foregoing; 

        (8)   all
collection or deposit accounts relating to any of the foregoing; 

        (9)   all
books and records relating to any of the foregoing; 

        (10) inventory
and/or contractual rights related thereto; and 

        (11) all
proceeds of any of the foregoing. 

        "Reference Treasury Dealer" means Citigroup Global Markets Inc., Banc of America Securities LLC, Deutsche Bank
Securities Inc. and their respective successors; provided, however, that if any of the foregoing
shall cease to be a primary U.S. Government securities dealer in New York City (a "Primary Treasury Dealer"), the Company shall substitute
therefor another Primary Treasury Dealer. 

18

 

        "Reference Treasury Dealer Quotation" means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as
determined by the Trustee, of the bid and ask prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such
Reference Treasury Dealer at 5:00 p.m. on the third Business Day preceding such Redemption Date. 

        "Refinance" means, in respect of any Debt, to refinance, extend, renew, refund or Repay, or to issue other Debt, in exchange or
replacement for, such Debt. "Refinanced" and "Refinancing" shall have correlative meanings. 

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

        "Related Business" means any business that is related, ancillary or complementary to, or a reasonable extension or expansion of, the
businesses of the Company and the Restricted Subsidiaries on the Issue Date. 

        "Repay" means, in respect of any Debt, to repay, prepay, repurchase, redeem, legally defease or otherwise retire such Debt. "Repayment"
and "Repaid" shall have correlative meanings. For purposes of Section 4.12 and the definition of "Consolidated Fixed Charge Coverage Ratio," Debt shall be considered to have been Repaid
only to the extent the related loan commitment, if any, shall have been permanently reduced in connection therewith. 

        "Representative" means the trustee, agent or representative expressly authorized to act in such capacity, if any, for an issue of Senior
Debt, or, if no such Person is so authorized, the holders or lenders of that percentage of the principal amount of such Senior Debt that are permitted to act in such capacity under the terms of such
Senior Debt. 

        "Restricted Payment" means: 

        (a)   any
dividend or distribution (whether made in cash, securities or other Property) declared or paid on or with respect to any shares of Capital Stock of the Company or
any Restricted Subsidiary (including any payment in connection with any merger or consolidation with or into the Company or any Restricted Subsidiary), except for any dividend or distribution that is
made solely to the Company or a Restricted Subsidiary (and, if such Restricted Subsidiary is not a Wholly Owned Restricted Subsidiary, to the other shareholders of such Restricted Subsidiary on a  pro rata basis or on a basis that results in the receipt by the Company or a Restricted Subsidiary of dividends or distributions of greater value
than it would receive on a pro rata basis) or any dividend or distribution payable solely in shares of Capital Stock (other than Disqualified
Stock) of the Company or in options, warrants or other rights to purchase such Capital Stock (other than Disqualified Stock); 

        (b)   the
purchase, repurchase, redemption, reduction, acquisition or retirement for value of any Capital Stock of the Company or any Restricted Subsidiary (other than from
the Company or a Restricted Subsidiary) or any securities exchangeable for or convertible into any such Capital Stock, including the exercise of any option to exchange any Capital Stock (other than
for or into Capital Stock of the Company or a Restricted Subsidiary that is not Disqualified Stock); 

        (c)   the
purchase, repurchase, redemption, acquisition or retirement for value, prior to the date for any scheduled maturity, sinking fund or amortization or other
installment payment, of any Subordinated Obligation (other than the purchase, repurchase or other acquisition of any Subordinated Obligation purchased in anticipation of satisfying a scheduled
maturity, sinking fund or amortization or other installment obligation, in each case due within one year of the date of acquisition); or 

        (d)   any
Investment (other than Permitted Investments) in any Person. 

        "Restricted Subsidiary" means any Subsidiary of the Company other than an Unrestricted Subsidiary. 

        "S&P" means Standard & Poor's Ratings Service or any successor to the rating agency business thereof. 

19

 

        "Sale and Leaseback Transaction" means any direct or indirect arrangement relating to Property now owned or hereafter acquired whereby the
Company or a Restricted Subsidiary transfers such Property to another Person and the Company or a Restricted Subsidiary leases it from such Person. 

        "Senior Debt" means: 

        (a)   all
obligations consisting of the principal, premium, if any, and accrued and unpaid interest (including interest accruing on or after the filing of any petition in
bankruptcy or for reorganization relating to the Company whether or not such post-filing interest is allowed in such proceeding) in respect of: 

        (1)   Debt
of the Company for money borrowed, and 

        (2)   Debt
of the Company evidenced by notes, debentures, bonds or other similar instruments for the payment of which the Company is responsible or liable; 

        (b)   all
Capital Lease Obligations of the Company and all Attributable Debt in respect of Sale and Leaseback Transactions entered into by the Company; 

        (c)   all
obligations of the Company 

        (1)   for
the reimbursement of any obligor on any letter of credit, banker's acceptance or similar credit transaction, 

        (2)   under
Hedging Obligations, or 

        (3)   issued
or assumed as the deferred purchase price of Property and all conditional sale obligations of the Company and all obligations under any title retention agreement
permitted under this First Supplemental Indenture; and 

        (d)   all
obligations of other Persons of the type referred to in clauses (a), (b) and (c) for the payment of which the Company is responsible or liable as
Guarantor; 

provided, however, that Senior Debt shall not include: 

        (A)  Debt
of the Company that is by its terms expressly subordinate or pari passu in right of payment to the Notes,
including any Senior Subordinated Debt or any Subordinated Obligations; 

        (B)  any
Debt Incurred in violation of the provisions of this First Supplemental Indenture; 

        (C)  accounts
payable or any other obligations of the Company to trade creditors created or assumed by the Company in the ordinary course of business in connection with the
obtaining of materials or services (including Guarantees thereof or instruments evidencing such liabilities); 

        (D)  any
liability for Federal, state, provincial, local or other taxes owed or owing by the Company; 

        (E)  any
obligation of the Company to any Subsidiary; or 

        (F)  any
obligations with respect to any Capital Stock of the Company. 

        To
the extent that any payment of Senior Debt (whether by or on behalf of the Company as proceeds of security or enforcement or any right of setoff or otherwise) is declared to be
fraudulent or preferential, set aside or required to be paid to a trustee, receiver or other similar party under any bankruptcy, insolvency, receivership or similar law, then if such payment is
recovered by, or paid over to, such trustee, receiver or other similar party, the Senior Debt or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if
such payment had not occurred. 

20

 

        "Senior Subordinated Debt" means the Notes and any other subordinated Debt of the Company that specifically provides that such Debt is to
rank pari passu with the Notes and is not subordinated by its terms to any other subordinated Debt or other obligation of the Company which is
not Senior Debt. 

        "Significant Subsidiary" means any Subsidiary that would be a "significant subsidiary" of the Company within the meaning of
Article 1 of Rule 1-02 under Regulation S-X promulgated pursuant to the Securities Act, as such Regulation is in effect on the Issue Date. 

        "Stated Maturity" means, with respect to any Debt or security, the date specified in such Debt or security as the fixed date on which the
payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the
option of the holder thereof upon the happening of any contingency beyond the control of the issuer unless such contingency has occurred). 

        "Subordinated Obligation" means any Debt of the Company (whether outstanding on the Issue Date or thereafter Incurred) that is, by its
terms, expressly subordinate or junior in right of payment to the Notes. 

        "Subsidiary" means, in respect of any Person, any corporation, company (including any limited liability company), association,
partnership, trust, joint venture or other business entity of which at least a majority of the total voting power of the Voting Stock is at the time owned or controlled, directly or indirectly, by: 

        (a)   such
Person, 

        (b)   such
Person and one or more Subsidiaries of such Person, or 

        (c)   one
or more Subsidiaries of such Person. 

        "Surviving Person" means the surviving Person formed by an arrangement, merger, consolidation or amalgamation and, for purposes of
Section 5.01, a Person to whom all or substantially all of the Property of the Company is sold, transferred, assigned, leased, conveyed or otherwise disposed. 

        "TIA" means the United States Trust Indenture Act of 1939, as amended, and the rules and regulations thereunder. 

        "Total Assets" means, with respect to any date of determination, the total assets shown on the Company's consolidated balance sheet in
accordance with GAAP on the last day of the fiscal quarter prior to the date of determination. 

        "Treasury Rate" means, with respect to any Redemption Date, the rate per annum equal to the yield to maturity of the Comparable Treasury
Issue, compounded semi-annually, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such
Redemption Date. 

        "Unregistered Senior Debt" means any Senior Debt of the Company that is not registered under the Securities Act. 

        "Unrestricted Subsidiary" means: 

        (a)   any
Subsidiary of the Company that is designated after the Issue Date as an Unrestricted Subsidiary as permitted or required pursuant to Section 4.16
and is not thereafter redesignated as a Restricted Subsidiary as permitted pursuant thereto; and 

        (b)   any
Subsidiary of an Unrestricted Subsidiary. 

21

 

        "U.S. Government Obligations" means direct obligations (or certificates representing an ownership interest in such obligations) of
the United States of America (including any agency or instrumentality thereof) for the payment of which the full faith and credit of the United States of America is pledged and which are
not callable or redeemable at the issuer's option. 

        "Voting Stock" of any Person means all classes of Capital Stock or other interests (including partnership interests and interests in a
trust) of such Person then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof. 

        "Wholly Owned Restricted Subsidiary" means, at any time, a Restricted Subsidiary all the Voting Stock of which (except directors'
qualifying shares) is at such time owned, directly or indirectly, by the Company and its other Wholly Owned Subsidiaries. 

Section 1.02.
Other Definitions. 

	Term
 
	 	Defined in Section

	"Acceleration Notice"	 	6.02
	"Affiliate Transaction"	 	4.14
	"Allocable Excess Proceeds"	 	4.12
	"Authentication Order"	 	2.02
	"Change of Control Offer"	 	4.18
	"Change of Control Purchase Price"	 	4.18
	"Covenant Defeasance"	 	7.03
	"DTC"	 	2.03
	"Event of Default"	 	6.01
	"Excess Proceeds"	 	4.12
	"Excluded Holder"	 	4.19
	"Legal Defeasance"	 	7.02
	"Offer Amount"	 	3.09
	"Offer Period"	 	3.09
	"Offer to Purchase"	 	3.09
	"Payment Blockage Notice"	 	10.03
	"Payment Blockage Period"	 	10.03
	"pay the Notes"	 	10.03
	"Permitted Debt"	 	4.09
	"Prepayment Offer	 	4.12
	"Purchase Date"	 	3.09
	"Purchase Price"	 	3.09
	"Taxes"	 	4.19

Section 1.03.
Incorporation by Reference of Trust Indenture Act. 

        (a)   The
following TIA terms used in this Indenture have the following meanings: 

        "indenture
securities" means the Notes; 

        "indenture
security holder" means a Holder of a Note; 

        "indenture
to be qualified" means this Indenture; 

        "indenture
trustee" or "institutional trustee" means the Trustee; and 

        "obligor" on the Notes means the Company and any successor obligor upon the Notes. 

22

 

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

Section 1.04.
Rules of Construction. 

        (a)   Unless
the context otherwise requires: 

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

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

        (iii)  "or"
is not exclusive; 

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

        (v)   all
references in this instrument to "Articles," "Sections" and other subdivisions are to the designated Articles, Sections and subdivisions of this First Supplemental
Indenture as originally executed; 

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

        (vii) "including"
means "including without limitation"; 

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

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

 
 

ARTICLE 2.
  
    THE NOTES    
    

Section 2.01.
General. 

        (a)   Designation of Series.    Pursuant to the terms hereof and Section 3.01 of the Base Indenture, there is
hereby established the Notes, known as the "77/8% Senior Subordinated Notes due 2011," and such Notes shall be deemed "Securities" for purposes of the Base Indenture. 

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

        (c)   Global Notes.    Notes shall be issued initially in global form and shall be substantially in the form of
Exhibit A attached hereto (including the Global Note Legend thereon and the "Schedule of Exchanges of Interests in the Global Note" attached thereto). Notes issued in definitive form shall be
substantially in the form of Exhibit A attached hereto (but without the Global Note Legend thereon and without the "Schedule of Exchanges of Interests in the Global Note" attached thereto).
Each Global Note shall represent such aggregate principal amount of the outstanding Notes as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of
outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to
reflect exchanges and redemptions and transfers of interests therein. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of
outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by
Section 2.05 hereof. 

23

 

        (d)   Book-Entry Provisions.    This Section 2.01(d) shall apply only to Global Notes deposited
with the Custodian for the Depositary. Participants and Indirect Participants shall have no rights under this Indenture or any Global Note with respect to any Global Note held on their behalf by the
Depositary or by the Custodian for the Depositary, and the Depositary shall be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Note
for all purposes whatsoever, except as required by law. Notwithstanding the foregoing, 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 the Depositary or impair, as between the Depositary and its Participants or Indirect Participants, the Applicable
Procedures or the operation of customary practices of the Depositary governing the exercise of the rights of a Holder of a beneficial interest in any Global Note. 

Section 2.02.
Execution and Authentication. 

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

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

        (c)   A
Note shall not be valid until authenticated by the manual signature of the Trustee. The signature shall be conclusive evidence that the Note has been authenticated
under this Indenture. 

        (d)   The
Trustee shall, upon receipt of (i) a Company Order (an "Authentication Order") and (ii) the Opinion of
Counsel and Officers' Certificate set forth in Section 3.03 of the Base Indenture, authenticate Notes for issuance. 

        (e)   The
Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. Unless otherwise provided in such appointment, an authenticating agent
may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent shall have the
same rights as the Trustee to deal with Holders, the Company or an Affiliate of the Company. 

Section 2.03.
Security Registrar, Paying Agent and Depositary. 

        (a)   The
Company initially appoints the Trustee to act as Security Registrar and Paying Agent and to act as Custodian with respect to the Global Notes, and the Trustee hereby
agrees so to initially act. 

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

Section 2.04.
Paying Agent to Hold Money in Trust. 

        The
Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held
by the Paying Agent for the payment of principal, premium, if any, or interest on the Notes, and shall promptly notify the Trustee in writing of any default by the Company in making any such payment.
While any such default continues, the Trustee may require a Paying Agent to pay all funds held by it relating to the Notes to the Trustee. The Company at any time may require a Paying Agent to pay all
funds held by it to the Trustee and account for any funds disbursed. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for
such funds. If the Company or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all funds held by it as Paying Agent. Upon any
Event of Default under Section 6.01(g) or (h) hereof relating to the Company, the Trustee shall serve as Paying Agent for the Notes. 

24

  

        Section 2.05. Transfer and Exchange. 

        (a)   Global Note Legend.    Each Global Note shall bear the following legend unless specifically stated otherwise in
the applicable provisions of this Indenture. 

        "THIS
GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT
TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.05 OF THE FIRST SUPPLEMENTAL
INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.05 OF THE FIRST SUPPLEMENTAL INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO
THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 3.10 OF THE BASE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE
COMPANY. 

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

        (b)   Cancellation and/or Adjustment of Global Notes.    At such time as all beneficial interests in a particular
Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or cancelled in whole and not in part, each such Global Note shall be returned to or
retained and canceled by the Trustee in accordance with Section 3.10 of the Base Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for
or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global
Note shall be reduced accordingly and an endorsement shall be made on such Global Note, by the Custodian or by the Depositary at the direction of the Trustee, to reflect such reduction; and if the
beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be
increased accordingly and an endorsement shall be made on such Global Note, by the Trustee or by the Depositary at the direction of the Trustee, to reflect such increase. 

25

 

        (c)   General Provisions Relating to Transfers and Exchanges.

        (i)    No
service charge shall be made to a holder of a beneficial interest in a Global Note or to a holder of a Definitive Note for any registration of transfer or exchange,
but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar
governmental charge payable upon exchange or transfer pursuant to Section 3.04 of the Base Indenture and Sections 3.06 and 8.05 hereof). 

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

        (iii)  Neither
the Security Registrar nor the Company shall be required (A) to issue, to register the transfer of or to exchange Notes during a period beginning at the
opening of business 15 days before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on the date of selection, (B) to
register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part or (C) to register the transfer
of or to exchange a Note between a record date (including a Regular Record Date) and the next succeeding Interest Payment Date. 

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

        (v)   All
certifications, certificates and Opinions of Counsel required to be submitted to the Security Registrar pursuant to this Section 2.05 to effect a
registration of transfer or exchange may be submitted by facsimile. 

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

        Section 2.06.
Outstanding Notes. 

        (a)   This
Section 2.06 shall replace and supersede in its entirety the definition of "Outstanding" in the Base Indenture solely with respect to the Notes. The Notes
outstanding at any time shall be the entire principal amount of Notes represented by all of the Global Notes and Definitive Notes authenticated by the Trustee except for those cancelled by it, those
delivered to it for cancellation, those subject to reductions in beneficial interests effected by the Trustee in accordance with Section 2.05 hereof, and those described in this
Section 2.06 as not outstanding. Except as set forth in Section 2.07 hereof, a Note shall not cease to be outstanding because the Company or an Affiliate of the Company holds the Note;  provided, however, that Notes held by the Company or a Subsidiary of the Company shall be deemed not to
be outstanding for purposes of Section 3.07(c) hereof. 

        (b)   If
a Note is replaced pursuant to Section 3.06 of the Base Indenture, it shall cease to be outstanding unless the Trustee receives proof satisfactory to it that
the replaced note is held by a bona fide purchaser. 

        (c)   If
the principal amount of any Note is considered paid under Section 4.01 hereof, it shall cease to be outstanding and interest on it shall cease to accrue. 

26

 

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

        Section 2.07.
Treasury Notes. 

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

        Section 2.08.
Issuance of Additional Notes. 

        The
Company shall be entitled, subject to its compliance with Section 4.09 hereof, to issue Additional Notes under this Indenture which shall have identical terms as the
Initial Notes issued on the Issue Date, other than with respect to the date of issuance and issue price. The Initial Notes issued on the Issue Date and any Additional Notes shall be treated as a
single class for all purposes under this First Supplemental Indenture, including directions, waivers, amendments, consents, redemptions and Offers to Purchase. 

        With
respect to any Additional Notes, the Company shall set forth in a Board Resolution and an Officers' Certificate, a copy of each of which shall be delivered to the Trustee along with
an Authentication Order and Opinion of Counsel, the following information: 

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

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

 
 

ARTICLE 3.
  
    REDEMPTION AND PREPAYMENT    
    

        This Article 3 shall replace and supersede Sections 11.02 to 11.08 of the Base Indenture in their entirety. 

        Section 3.01.
Notices to Trustee. 

        If
the Company elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 hereof, it shall furnish to the Trustee, at least 60 days before a
Redemption Date (or such shorter period as allowed by the Trustee), an Officers' Certificate setting forth (a) the applicable section of this Indenture pursuant to which the redemption shall
occur, (b) the Redemption Date, (c) the principal amount of Notes to be redeemed and (d) the Redemption Price or the appropriate method for calculation of the Redemption Price. 

        Section 3.02.
Selection of Notes to Be Redeemed. 

        If
less than all of the Notes are to be redeemed at any time, the Trustee shall select the Notes to be redeemed among the Holders of the Notes in compliance with the requirements of the
principal national securities exchange, if any, on which the Notes are listed or, if the Notes are not so listed, on a pro rata basis, by lot or
in accordance with any other method the Trustee deems fair and appropriate. In the event of partial redemption by lot, the particular Notes to be redeemed shall be selected, unless otherwise provided
herein, not less than 30 nor more than 60 days prior to the Redemption Date by the Trustee from the outstanding Notes not previously called for redemption. 

27

 

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

        Section 3.03.
Notice of Redemption. 

        At
least 30 days but not more than 60 days prior to a Redemption Date, the Company shall mail or cause to be mailed, by first class mail, a notice of redemption to each
Holder whose Notes are to be redeemed in accordance with Section 1.06 of
the Base Indenture at such Holder's registered address appearing in the Security Register, except that redemption notices may be mailed more than 60 days prior to a Redemption Date if the
notice is issued in connection with a defeasance pursuant to Article 7 hereof or a satisfaction and discharge pursuant to Article 10 hereof. 

        The
notice shall identify the Notes to be redeemed and shall state: 

        (a)   the
Redemption Date; 

        (b)   the
appropriate method for calculation of the redemption price, but need not include the redemption price itself; the actual redemption price shall be set forth in an
Officers' Certificate delivered to the Trustee no later than two (2) Business Days prior to the Redemption Date unless clause (2) of the definition of "Comparable Treasury Price" is
applicable, in which case such Officers' Certificate should be delivered on the Redemption Date; 

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

        (d)   the
name and address of the Paying Agent and the Place or Places of Payment; 

        (e)   that
Notes called for redemption must be surrendered to the Place or Places of Payment to collect the redemption price; 

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

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

        (h)   that
no representation is made as to the correctness of the CUSIP and/or ISIN numbers, if any, listed in such notice or printed on the Notes. 

        At
the Company's request, the Trustee shall give the notice of redemption in the Company's name and at its expense; provided, however,
that the Company shall have delivered to the Trustee, at least 45 days (or such shorter period allowed by the Trustee), prior to the Redemption Date, an Officers' Certificate requesting that
the Trustee give such notice (in the name and at the expense of the Company) and setting forth the information to be stated in such notice as provided in this Section 3.03. 

28

 

        Section 3.04.
Effect of Notice of Redemption. 

        Once
notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for redemption shall become irrevocably due and payable on the Redemption Date at the
redemption price. A notice of redemption may not be conditional. 

        Section 3.05.
Deposit of Redemption Price. 

        On
or prior to 12:00 noon Eastern time on the Business Day prior to any Redemption Date, the Company shall deposit with the Trustee or with the Paying Agent money sufficient to pay the
redemption price of and, if applicable, accrued and unpaid interest on all Notes to be redeemed on that date. The Trustee or the Paying Agent shall promptly, and in any event within two
(2) Business Days after the Redemption Date, return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the
redemption price of, and accrued and unpaid interest, if any, on, all Notes to be redeemed. The Trustee or Paying Agent, as the case may be, shall have no duty to invest such deposited funds. 

        If
the Company complies with the provisions of the preceding paragraph, on and after the Redemption Date, interest shall cease to accrue on the Notes or the portions of Notes called for
purchase or redemption in accordance with Section 2.06(d) hereof, whether or note such Notes are presented for payment. If a Note is redeemed on or after a Regular Record Date but on or prior
to the related Interest Payment Date, then any accrued and unpaid interest, if any, shall be paid to the Person in whose name such Note was registered at the close of business on such Regular Record
Date. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the Company to comply with the preceding paragraph, interest shall be paid on the
unpaid principal from the Redemption Date until such principal is paid. 

        Section 3.06.
Notes Redeemed in Part. 

        Upon
surrender of a Note that is redeemed in part, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall
authenticate for the Holder at the expense of the Company a new Note equal in principal amount to the unredeemed portion of the Note surrendered. 

        Section 3.07.
Optional Redemption. 

        (a)   Except
as set forth below, the Notes shall not be redeemable at the option of the Company prior to    July 1, 2008. Starting on that date, the Company
may redeem all or any portion of the Notes, at once or over time, after giving the notice required pursuant to Section 3.03 hereof. The Notes may be redeemed at the redemption prices set forth
below, plus accrued and unpaid interest, to but excluding the applicable Redemption Date (subject to the right of Holders on the relevant Regular Record Date to receive interest due on the relevant
Interest Payment Date). The following prices are for Notes redeemed during the 12-month period commencing on July 1 of the years set forth below, and are expressed as percentages of
principal amount: 

	Year
 
	 	Redemption Price

	2008	 	103.938%
	2009	 	101.969%
	2010 and thereafter	 	100.000%

        (b)   In
addition, at any time and from time to time prior to July 1, 2008, the Company may elect to redeem all or any portion of the Notes, after giving the notice
required pursuant to Section 3.03 hereof, at a redemption price equal to the greater of: 

        (i)    100%
of the principal amount of Notes to be redeemed, and 

29

 

        (ii)   the
sum of the present values of (1) the redemption price of the Notes to be redeemed at, July 1, 2008 (as set forth in the prior paragraph) of the Notes
to be redeemed, and (2) the remaining scheduled payments of interest from the Redemption Date to, July 1, 2008, but excluding accrued and unpaid interest to the Redemption Date,
discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points, 

plus,
in either case, accrued and unpaid interest to the Redemption Date (subject to the right of Holders on the relevant Regular Record Date to receive interest due on the relevant Interest Payment
Date). 

        (c)   In
addition, at any time and from time to time, prior to July 1, 2007, the Company may redeem up to 35% of the aggregate principal amount of the Notes (including
any Additional Notes) then outstanding with the net cash proceeds of one or more Public Equity Offerings, at a redemption price equal to 107.875% of the principal amount, plus accrued and unpaid
interest, to but excluding the Redemption Date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date);  provided,
however, that after giving effect to any such redemption, at least 65% of the aggregate
principal amount of the Notes (including any Additional Notes) remains outstanding. Any such redemption shall be made within 90 days of the closing of such Public Equity Offering and upon not
less than 30 nor more than 60 days' prior notice. 

        (d)   (i)
The Company may, at its option, at any time redeem in whole but not in part the outstanding Notes at a redemption price of 100% of the principal amount thereof plus
accrued and unpaid interest (if any) to but excluding the date of redemption if it has become or would become obligated to pay on the next date on which any amount would be payable under or in respect
of the Notes any Additional Amounts in respect of the Notes as a result of: 

        (A)  any
change in or amendment to the laws (or regulations promulgated thereunder) of Canada (or any political subdivision or taxing authority thereof or therein), or 

        (B)  any
change in or amendment to any official position regarding the application or interpretation of such laws or regulations, 

in
either case, which change or amendment is announced or is effective on or after the Issue Date (unless announced prior to the Issue Date). 

        (ii)   It
shall be a condition to the Company's right to redeem the Notes pursuant to the provisions set forth in clause (i) above that, prior to giving any notice of
redemption of the Notes, the Company shall have delivered to the Trustee: 

        (A)  an
Officers' Certificate stating that the obligation to pay such Additional Amounts cannot be avoided by the Company taking reasonable measures available to it; and 

        (B)  an
Opinion of Counsel that the Company has or will become obligated to pay, on the next date on which any amount would be payable with respect to the Notes, Additional
Amounts in respect of the Notes as a result of an amendment or change of the type described in clause (i) above, which opinion, in the case of an announced amendment or change, may assume that
the announced amendment or change will become effective as of the date specified in such announcement and in the form announced and, where the change or amendment is one described in
clause (i)(B) above, may assume such official position accurately reflects the relevant law. 

        (e)   Any
prepayment pursuant to this Section 3.07 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof. 

        Section 3.08.
Mandatory Redemption. 

        There
shall be no mandatory sinking fund payments with respect to the Notes. Except as set forth in Sections 4.12 and 4.18 hereof, the Company shall not be required to make
mandatory redemption payments with respect to, or offer to purchase, the Notes. 

30

 

        Section 3.09.
Offer To Purchase. 

        (a)   In
the event that, pursuant to Section 4.12 or 4.18 hereof, the Company shall be required to commence a Prepayment Offer or a Change of Control Offer
(each, an "Offer to Purchase"), it shall follow the procedures specified below. The provisions of this Section 3.09 (together with
Sections 4.12 and 4.18) shall replace and supersede Article 13 of the Base Indenture in its entirety. 

        (b)   The
Company shall cause a notice of the Offer to Purchase to be sent at least once to the Dow Jones News Service
or similar business news service in the United States, provided, that the first notice shall be sent prior to, or on the day of, commencement of the Offer to Purchase. 

        (c)   The
Company shall commence the Offer to Purchase by sending, by first-class mail, with a copy to the Trustee, to each Holder at such Holder's address appearing in the
Security Register, a notice, the terms of which shall govern the Offer to Purchase, stating: 

        (i)    that
the Offer to Purchase is being made pursuant to this Section 3.09 and Section 4.12 or Section 4.18, as the case may be, and, in the case of a
Change of Control Offer, that a Change of Control has occurred, the circumstances and relevant facts regarding the Change of Control and that a Change of Control Offer is being made pursuant to
Section 4.18; 

        (ii)   the
principal amount of Notes in respect of which the Offer to Purchase is made pursuant to Section 4.12 or Section 4.18, as the case may be (the
"Offer Amount"), the purchase price set forth in Section 4.12 or Section 4.18, as applicable (the "Purchase
Price"), the Offer Period and the Purchase Date (each as defined below); 

        (iii)  except
as provided in clause (ix), that all Notes timely tendered and not withdrawn shall be accepted for payment; 

        (iv)  that
any Note not tendered or accepted for payment shall continue to accrue interest; 

        (v)   that,
unless the Company defaults in making such payment, any Note accepted for payment pursuant to the Offer to Purchase shall cease to accrue interest after the
Purchase Date; 

        (vi)  that
Holders electing to have a Note purchased pursuant to an Offer to Purchase may elect to have Notes purchased in integral multiples of US$1,000 only; 

        (vii) that
Holders electing to have a Note purchased pursuant to any Offer to Purchase shall be required to surrender the Note, with the form entitled "Option of Holder to
Elect Purchase" on the reverse of the Note completed, or transfer by book-entry transfer, to the Company, the Depositary, if appointed by the Company, or a Paying Agent at the address
specified in the notice before the close of business on the third Business Day before the Purchase Date; 

        (viii) that
Holders shall be entitled to withdraw their election if the Company, the Depositary or the Paying Agent, as the case may be, receives, not later than the
expiration of the Offer Period, a telegram, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note (or portions thereof) the Holder delivered for
purchase and a statement that such Holder is withdrawing his election to have such Note purchased; 

        (ix)  that,
in the case of a Prepayment Offer, if the aggregate principal amount of Notes surrendered by Holders exceeds the Offer Amount, the Company shall select the Notes
to be purchased on a pro rata basis (with such adjustments as may be deemed appropriate by the Company so that only Notes in denominations of
US$1,000 or integral multiples thereof shall be purchased); 

        (x)   that
Holders whose Notes were purchased in part shall be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred
by book-entry transfer); and 

31

 

        (xi)  any
other procedures the Holders must follow in order to tender their Notes (or portions thereof) for payment and the procedures that Holders must follow in order to
withdraw an election to tender Notes (or portions thereof) for payment. 

        (d)   The
Offer to Purchase shall remain open for a period of at least 30 days but no more than 60 days following its commencement, except to the extent that a
longer period is required by applicable law (the "Offer Period"). No later than five (5) Business Days (and in any event no later than the 60th
day following the Change of Control) after the termination of the Offer Period (the "Purchase Date"), the Company shall purchase the Offer Amount, or if
less than the Offer Amount has been tendered all, of the Notes tendered in response to the Offer to Purchase. Payment for any Notes so purchased shall be made in the same manner as interest payments
are made. The Company shall publicly announce the results of the Offer to Purchase on the Purchase Date. 

        (e)   On
or prior to the Purchase Date, the Company shall, to the extent lawful: 

        (i)    accept
for payment (on a pro rata basis to the extent necessary in connection with an Prepayment Offer), the Offer
Amount of Notes or portions of Notes properly tendered and not withdrawn pursuant to the Offer to Purchase, or if less than the Offer Amount has been tendered, all Notes tendered; 

        (ii)   deposit
with the Paying Agent funds in an amount equal to the Purchase Price in respect of all Notes or portions of Notes properly tendered; and 

        (iii)  deliver
or cause to be delivered to the Trustee the Notes properly accepted together with an Officers' Certificate stating the aggregate principal amount of Notes or
portions of Notes being purchased by the Company and that such Notes or portions thereof were accepted for payment by the Company in accordance with the terms of this Section 3.09. 

        (f)    The
Paying Agent (or the Company, if acting as the Paying Agent) shall promptly (but in the case of a Change of Control, not later than 60 days from the date of
commencement of the Change of Control Offer) deliver to each tendering Holder the Purchase Price. In the event that any portion of the Notes surrendered is not purchased by the Company, the Company
shall promptly execute and issue a new Note in a principal amount equal to such unpurchased portion of the Note surrendered, and, upon receipt of an Authentication Order in accordance with
Section 2.02 hereof, the Trustee shall authenticate and deliver (or cause to be transferred by book-entry) such new Note to such Holder, in a principal amount equal to any
unpurchased portion of the Note surrendered; provided, however, that each such new Note shall be in a
principal amount of US$1,000 or an integral multiple thereof. Any Note not so accepted shall be promptly mailed or delivered by the Company to the Holder thereof. 

        (g)   If
the Purchase Date is on or after a Regular Record Date and on or before the related Interest Payment Date, any accrued and unpaid interest shall be paid to the Person
in whose name a Note is registered at the close of business on such Regular Record Date, and no additional interest shall be payable to Holders who tender Notes pursuant to the Offer to Purchase. 

        (h)   The
Company shall comply, to the extent applicable, with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent those laws and regulations are applicable in connection with the Offer to Purchase. To the extent that the provisions of any securities laws or regulations
conflict with Sections 4.12 or 4.18, as applicable, this Section 3.09 or other provisions of this Indenture, the Company shall comply with applicable securities laws and
regulations and shall not be deemed to have breached its obligations under Sections 4.12 or 4.18, as applicable, this Section 3.09 or such other provision by virtue of such
compliance. 

        (i)    Other
than as specifically provided in this Section 3.09, any purchase pursuant to this Section 3.09 shall be made in accordance with the provisions of
Section 3.01 through 3.06 hereof. 

32

 
 
 

ARTICLE 4.
  
    COVENANTS    
    

This
Article 4 shall replace and supersede Article 10 of the Base Indenture in its entirety. 

        Section 4.01.
Payment of Notes. 

        The
Company shall pay or cause to be paid the principal of, premium, if any, and interest on, the Notes on the dates and in the manner provided in this Indenture and the Notes.
Principal, premium, if any, and interest shall be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 12:00 noon Eastern Time on the due
date money deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest then due. Such Paying Agent shall return to the
Company promptly, and in any event, no later than five (5) Business Days following the date of payment, any money (including accrued interest) that exceeds such amount of principal, premium, if
any, and interest paid on the Notes. The Paying Agent shall have no duty to invest any such money deposited with it. If a payment date is a Legal Holiday at a place of payment, payment may be made at
that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such payment for the intervening period. The Company shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium, if any, and interest at the same rate per annum as the rate then in effect. 

        Interest
shall be computed on the basis of a 360-day year of twelve 30-day months. For the purposes of the Interest
Act (Canada), the yearly rate of interest which is equivalent to the rate payable hereunder is the rate payable multiplied by the actual number of days in the year and divided
by 360. 

        Section 4.02.
Maintenance of Office or Agency. 

        (a)   The
Company shall maintain in the Borough of Manhattan, The City of New York, an office or agency (which may be an office or drop facility of the Trustee or an
affiliate of the Trustee, Security Registrar or co-Security Registrar) where Notes may be presented or surrendered for registration of transfer or for exchange and where notices and
demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company shall give prompt written notice to the Trustee of the location, and any change in the location, of
such office or agency. If at any time the Company shall fail to maintain any such required office or 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. 

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

        (c)   The
Company hereby designates the Corporate Trust Office of the Trustee, as one such office, drop facility or agency of the Company for each of the said purposes in this
Section 4.02 in accordance with Section 2.03 hereof. 

        Section 4.03.
Reports. 

        The
Company shall provide the Trustee and, to the extent not filed electronically with the Commission through the Commission's Electronic Data Gathering, Analysis and Retrieval System
(or any successor system), the Holders, within 15 days after it files with, or furnishes to, the Commission, copies of its annual report and of the information, documents and other reports (or
copies of such portions of any of the foregoing as the Commission may by rules and regulations prescribe), which the Company is required to file with the Commission pursuant to Section 13
or 15(d) of the Exchange Act or is required to furnish to the Commission pursuant to this Indenture. Notwithstanding that the Company may not be required to remain subject to the reporting
requirements of Section 13 or 15(d) of the Exchange Act or otherwise report on an annual and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules
and regulations promulgated by the Commission, the Company will continue to file with, or furnish to, the Commission, the Trustee and, to the extent not filed electronically with the Commission
through the Commission's Electronic Data Gathering, Analysis and Retrieval System (or any successor system), provide the Holders: 

33

 

        (a)   within
90 days after the end of each fiscal year (or such shorter period as the Commission may in the future prescribe), annual reports on
Form 20-F or Form 40-F (or any successor or comparable form) containing the information required to be contained therein (or required in such successor or
comparable form), and 

        (b)   within
45 days after the end of each of the first three fiscal quarters of each fiscal year (or such shorter period as the Commission may in the future prescribe)
and promptly from time to time after the occurrence of an event other reports on Form 6-K (or any successor or comparable form) containing the information required to be
contained therein (or required in any successor or comparable form); 

provided, however, that the Company shall not be so obligated to file such reports with the Commission if the Commission does not permit such filings. 

        Section 4.04.
Compliance Certificate. 

        (a)   The
Company shall deliver to the Trustee, within 90 days after the end of each fiscal year (which as of the Issue Date is December 31), an Officers'
Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year and of their performance under this Indenture has been made under the
supervision of the signing Officers with a view to determining whether the Company and its Subsidiaries have kept, observed, performed and fulfilled their obligations under this Indenture, and further
stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Company and its Subsidiaries have been in compliance with every covenant contained in this
Indenture and are not in default in the performance or observance of any of the terms, provisions, obligations and conditions of this Indenture (or, if a Default or Event of Default shall have
occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to the best
of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of, premium, if any, or interest on the Notes is prohibited or if such
event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. 

        (b)   The
Company shall otherwise comply with TIA §314(a)(2). 

        (c)   The
Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written notice in the form of an Officers' Certificate of any Event of
Default, its status and what action the Company is taking or proposes to take with respect thereto. 

        Section 4.05.
Taxes. 

        The
Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments and governmental levies imposed upon it, its Subsidiaries or
their respective incomes, profits or properties, except such as are being contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any
material respect to the Holders. 

        Section 4.06.
Stay, Extension and Usury Laws. 

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

34

 

        Section 4.07.
Corporate Existence. 

        Subject
to Article 5 hereof, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and the rights
(charter and statutory) and franchises of the Company; provided, however, that the Company shall not be required to preserve any such right or franchise if the Company shall determine that either
(i) the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries as a whole and that the loss thereof is not disadvantageous in any
material respect to the Holders or (ii) that such preservation is not necessary in connection with any transaction not prohibited by this First Supplemental Indenture. For greater certainty,
notwithstanding the foregoing, the Company may effect any arrangement, merger, consolidation or amalgamation with or into any other Person or sale, transfer, assignment, lease, conveyance or other
disposal of all or substantially all of its property in any one transaction or series of transactions not prohibited pursuant to Section 5.01. 

        Section 4.08.
Payments for Consent. 

        The
Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise,
to or for the benefit of any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Notes unless
such consideration is offered to be paid and is paid to all Holders that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or
agreement. 

        Section 4.09.
Limitation on Debt and Preferred Stock. 

        (a)   The
Company shall not, and shall not permit any Restricted Subsidiary to, Incur, directly or indirectly, any Debt, and the Company shall not permit any Restricted
Subsidiary to issue any Preferred Stock; provided, however, that the Company and its Restricted Subsidiaries may Incur Debt and the Restricted
Subsidiaries may issue Preferred Stock if either: 

        (i)    after
giving effect to the Incurrence of such Debt or issuance of such Preferred Stock and the application of the proceeds thereof, the Consolidated Fixed Charge
Coverage Ratio would be at least 2.0 to 1.0, or 

        (ii)   such
Debt or Preferred Stock is Permitted Debt. 

        (b)   The
term "Permitted Debt" shall include the following: 

        (i)    Debt
of the Company evidenced by the Notes issued on the Issue Date; 

        (ii)   Debt
of the Company or a Restricted Subsidiary under Credit Facilities, provided that the aggregate principal amount of
all such Debt under Credit Facilities at any one time outstanding shall not exceed the greater of US$1,250.0 million and the Borrowing Base as at the most recently ended fiscal quarter for
which audited or unaudited consolidated financial statements of the Company are available, which amount shall be permanently reduced by the amount of Net Available Cash used to Repay Debt under Credit
Facilities and not subsequently reinvested in Additional Assets or used to purchase Notes or Repay other Debt, pursuant to Section 4.12; 

        (iii)  Debt
of the Company or a Restricted Subsidiary under a Receivables Program in an aggregate amount at any one time outstanding not to exceed, together with the amounts
outstanding under clause (ii) above, the greater of US$1,250.0 million and the Borrowing Base as at the most recently ended fiscal quarter for which audited or unaudited consolidated
financial statements of the Company are available; 

        (iv)  Debt
of the Company or a Restricted Subsidiary in respect of Capital Lease Obligations and Purchase Money Debt, provided
that: 

35

 

        (A)  the
aggregate principal amount of such Debt does not exceed the Fair Market Value (on the date of the Incurrence thereof) of the Property acquired, constructed or
leased, and 

        (B)  the
aggregate principal amount of all Debt Incurred and then outstanding pursuant to this clause (iv) (together with all Permitted Refinancing Debt Incurred and
then outstanding in respect of Debt previously Incurred pursuant to this clause (d)) does not exceed 10% of Total Assets; 

        (v)   Debt
of the Company owing to and held by any Wholly Owned Restricted Subsidiary, Debt of a Restricted Subsidiary owing to and held by the Company or any Wholly Owned
Restricted Subsidiary and Preferred Stock of a Restricted Subsidiary issued to and held by the Company or any Wholly Owned Restricted Subsidiary;  provided, however, that any subsequent issue or transfer of Capital Stock or other event that results in
any such Wholly Owned Restricted Subsidiary ceasing to be a Wholly Owned Restricted Subsidiary or any subsequent transfer of any such Debt or Preferred Stock (except to the Company or a Wholly Owned
Restricted Subsidiary) shall be deemed, in each case, to constitute the Incurrence of such Debt by the issuer thereof; 

        (vi)  Acquired
Indebtedness; 

        (vii) Debt
under Interest Rate Agreements entered into by the Company or a Restricted Subsidiary for the purpose of managing interest rate risk in the ordinary course of the
financial management of the Company or such Restricted Subsidiary and not for speculative purposes, provided that the obligations under such agreements
are directly related to payment obligations on Debt otherwise permitted by the terms of this Section 4.09; 

        (viii) Debt
under Currency Exchange Protection Agreements entered into by the Company or a Restricted Subsidiary for the purpose of managing currency exchange rate risks in
the ordinary course of business and not for speculative purposes; 

        (ix)  Guarantees
by the Company or any Restricted Subsidiary of Debt or any other obligation or liability of the Company or any Restricted Subsidiary Guarantor that the
Company or such Restricted Subsidiary could otherwise have Incurred pursuant to this Section 4.09; 

        (x)   Debt
in connection with one or more standby letters of credit or performance or surety bonds issued by the Company or a Restricted Subsidiary in the ordinary course of
business or pursuant to self-insurance obligations and not in connection with the borrowing of money or the obtaining of advances or credit not to exceed 5.0% of Total Assets at any time
outstanding; 

        (xi)  Debt
of the Company or any Restricted Subsidiary arising from the honoring of a check, draft or similar instrument drawn against insufficient funds in the ordinary
course of business; provided that such Debt is extinguished within five Business Days of its Incurrence; 

        (xii) Debt
of the Company or a Restricted Subsidiary outstanding on the Issue Date not otherwise described in clauses (i) through (xi) above; 

        (xiii) Debt
of the Company or a Restricted Subsidiary in an aggregate principal amount outstanding at any one time (including any Permitted Refinancing Debt Incurred
pursuant to clause (xiv) below with respect thereto) not to exceed US$250.0 million; and 

        (xiv) Permitted
Refinancing Debt Incurred in respect of Debt Incurred pursuant to Section 4.09(a)(i) and clauses (i), (iv), (vi), (xii) and (xiii)
above. 

36

  

        (c)   For purposes of this Section 4.09, accrual of interest, accretion or amortization of original issue discount and the payment of interest or dividends in the form
of additional Debt or Preferred Stock, will not be deemed to be an Incurrence of Debt. For purposes of determining compliance with this Section 4.09, in the event that any item of Debt or
Preferred Stock meets the criteria of more than one of the categories of Permitted Debt described in clauses (i) through (xiv) of Section 4.09(b) or is entitled to be
incurred pursuant to Section 4.09(a)(i), the Company shall, in its sole discretion, classify (or later reclassify in whole or in part, in its sole discretion) such item of Debt or Preferred
Stock in any manner that complies with this covenant; provided, that any Debt outstanding under Credit Facilities after the application of the net
proceeds from the sale of the Notes will be treated as Incurred on the Issue Date under clause (ii) above and any Debt outstanding under a Receivables Program after the application of the net
proceeds from the sale of the Notes will be treated as Incurred on the Issue Date under clause (iii) above. 

        Section 4.10.
Limitation on Restricted Payments. 

        (a)   The
Company shall not make, and shall not permit any Restricted Subsidiary to make, directly or indirectly, any Restricted Payment if at the time of, and after giving
effect to, such proposed Restricted Payment, 

        (i)    a
Default or Event of Default shall have occurred and be continuing, 

        (ii)   the
Company could not Incur at least US$1.00 of additional Debt pursuant to Section 4.09(a)(i), or 

        (iii)  the
aggregate amount of such Restricted Payment and all other Restricted Payments declared or made since the Issue Date (the amount of any Restricted Payment, if made
other than in cash, to be based upon Fair Market Value at the time of such Restricted Payment) would exceed an amount equal to the sum of: 

        (A)  50%
of the aggregate amount of Consolidated Net Income for the period (treated as one accounting period) from the beginning of the fiscal quarter during which the Issue
Date occurs to the end of the most recently ended fiscal quarter for which internal financial statements are available (or if the aggregate amount of Consolidated Net Income for such period shall be a
loss, minus 100% of such loss), plus 

        (B)  100%
of Capital Stock Sale Proceeds, plus 

        (C)  the
sum of: 

        (1)   the
aggregate net cash proceeds received by the Company or any Restricted Subsidiary from the issuance or sale after the Issue Date of convertible or exchangeable Debt
that has been converted into or exchanged for Capital Stock (other than Disqualified Stock) of the Company, and 

        (2)   the
aggregate amount by which Debt (other than Subordinated Obligations) of the Company or any Restricted Subsidiary is reduced on or after the Issue Date on the
Company's most recent audited or unaudited consolidated balance sheet upon the conversion or exchange of any Debt issued or sold on or prior to the Issue Date that is convertible or exchangeable for
Capital Stock (other than Disqualified Stock) of the Company, 

excluding,
in the case of clause (1) or (2): 

        (x)   any
such Debt issued or sold to the Company or a Subsidiary of the Company or an employee stock ownership plan or trust established by the Company or any such Subsidiary
for the benefit of their employees, and 

37

 

        (y)   the
aggregate amount of any cash or other Property distributed by the Company or any Restricted Subsidiary upon any such conversion or exchange, plus 

        (D)  an
amount equal to the sum of: 

        (1)   the
net reduction in Investments in any Person other than the Company or a Restricted Subsidiary resulting from dividends, repayments of loans or advances or other
transfers of Property, in each case to the Company or any Restricted Subsidiary from such Person, and 

        (2)   the
portion (proportionate to the Company's equity interest in such Unrestricted Subsidiary) of the Fair Market Value of the net assets of an Unrestricted Subsidiary at
the time such Unrestricted Subsidiary is designated a Restricted Subsidiary; 

provided, however, that the foregoing sum shall not exceed, in the case of any Person, the amount of
Investments previously made (and treated as a Restricted Payment) by the Company or any Restricted Subsidiary in such Person. 

        (b)   Notwithstanding
the limitation set forth in clause (a) above, the Company may: 

        (i)    pay
dividends on its Capital Stock within 60 days of the declaration thereof if, on the declaration date, such dividends could have been paid in compliance with
this Indenture, provided, however, that such dividends shall be included in the calculation of the amount of Restricted Payments; 

        (ii)   purchase,
repurchase, redeem, legally defease, acquire or retire for value Capital Stock or Subordinated Obligations of the Company or any Subsidiary in exchange for,
or out of the proceeds of the substantially concurrent sale of, Capital Stock of the Company (other than Disqualified Stock and other than Capital Stock issued or sold to a Subsidiary of the Company
or an employee stock ownership plan or trust established by the Company or any such Subsidiary for the benefit of their employees); provided,  however, that

        (A)  any
payments made in connection with such purchase, repurchase, redemption, legal defeasance, acquisition or retirement shall be excluded in the calculation of the
amount of Restricted Payments and 

        (B)  the
Capital Stock Sale Proceeds from such exchange or sale shall be excluded from the calculation pursuant to clause (a)(iii)(B) above; 

        (iii)  purchase,
repurchase, redeem, legally defease, acquire or retire for value any Subordinated Obligations in exchange for, or out of the proceeds of the substantially
concurrent Incurrence of, Permitted Refinancing Debt; provided, however, that payments made in
connection with such purchase, repurchase, redemption, legal defeasance, acquisition or retirement shall be excluded in the calculation of the amount of Restricted Payments; 

        (iv)  make
payments at Stated Maturity on inter-company Debt and Preferred Stock, the Incurrence or issuance of which was permitted pursuant to Section 4.09;  provided, however, that, except with respect to
inter-company Debt Incurred by the Company, no Default or Event of Default has occurred and is
continuing or would otherwise result therefrom; and provided further that any such payments shall be excluded in the calculation of the amount of
Restricted Payments made after the Issue Date; 

        (v)   purchase,
repurchase, redeem, legally defease, acquire or retire for value Existing Convertible Securities; provided,  however, that immediately prior to and after
giving effect to such purchase, repurchase, redemption, defeasance, acquisition or retirement, no Default
or Event of Default shall have occurred and be continuing; and provided further, that any payment made in connection with such purchase, repurchase,
redemption, defeasance, acquisition or retirement shall be excluded in the calculation of the amount of Restricted Payments; and 

38

 

        (vi)  make
additional Restricted Payments in an aggregate amount not to exceed US$50.0 million; provided, however, that
such payments shall be excluded in the calculation of the amount of Restricted Payments. 

        Section 4.11.
Limitation on Liens. 

        The
Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, Incur or suffer to exist, any Lien (other than Permitted Liens or Liens securing Senior
Debt) upon any of its Property (including Capital Stock of a Restricted Subsidiary), whether owned at the Issue Date or thereafter acquired, or any interest therein or any income or profits therefrom,
unless: 

        (a)   if
such Lien secures Senior Subordinated Debt the Notes are secured on an equal and ratable basis with such Debt and, 

        (b)   if
such Lien secures Subordinated Obligations, such Lien shall be subordinated to a Lien securing the Notes in the same Property as that securing such Lien to the same
extent as such Subordinated Obligations are subordinated to the Notes. 

        Section 4.12.
Limitation on Asset Sales. 

        (a)   The
Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, consummate any Asset Sale unless: 

        (i)    the
Company or such Restricted Subsidiary receives consideration at the time of such Asset Sale at least equal to the Fair Market Value of the Property subject to such
Asset Sale; 

        (ii)   at
least 75% of the consideration paid to the Company or such Restricted Subsidiary in connection with such Asset Sale is in the form of one or more of (A) cash
or Cash Equivalents, (B) the assumption of liabilities of the Company or any Restricted Subsidiary (other than contingent liabilities or liabilities that are by their terms subordinated to the
Notes) by the transferee of any such assets pursuant to a customary novation agreement or other agreement that releases or indemnifies the Company or such Restricted Subsidiary from further liability
with respect to such liabilities, or (C) any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such transferee to the extent converted by the
Company or such Restricted Subsidiary into cash within 30 days of receipt thereof by the Company or such Restricted Subsidiary; and 

        (iii)  the
Company delivers an Officers' Certificate to the Trustee certifying that such Asset Sale complies with the foregoing clauses (i) and (ii). 

        (b)   The
Net Available Cash (or any portion thereof) from Asset Sales may be applied by the Company or a Restricted Subsidiary, to the extent the Company or such Restricted
Subsidiary elects (or is required by the terms of any Debt): 

        (i)    to
Repay Senior Debt of the Company or Debt of any Restricted Subsidiary (excluding, in any such case, any Debt owed to the Company or an Affiliate of the Company); or 

        (ii)   to
invest in Additional Assets (including the making of any capital expenditure by the Company or such Restricted Subsidiary (in each case for or on behalf of the
Company or any Restricted Subsidiary) or by means of an Investment in Additional Assets by a Restricted Subsidiary with Net Available Cash received by the Company or another Restricted Subsidiary). 

39

 

        Any
Net Available Cash from an Asset Sale not applied in accordance with the preceding paragraph within 365 days from the date of the receipt by the Company or such Restricted
Subsidiary of such Net Available Cash shall constitute "Excess Proceeds." 

        (c)   When
the aggregate amount of Excess Proceeds exceeds US$10.0 million (taking into account income earned on such Excess Proceeds, if any), the Company will be
required to make an offer to repurchase (the "Prepayment Offer") the Notes, which offer shall be in the amount of the Allocable Excess Proceeds (rounded
to the nearest US$1,000), on a pro rata basis according to principal amount, at a purchase price equal to 100% of the principal amount thereof,
plus accrued and unpaid interest, to the repurchase date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date), in
accordance with the procedures (including prorating in the event of oversubscription) set forth in this Indenture. To the extent that any portion of the amount of Net Available Cash remains after
compliance with the preceding sentence and provided that all Holders have been given the opportunity to tender their Notes for repurchase in accordance
with this Indenture, the Company or such Restricted Subsidiary may use such remaining amount of Net Available Cash for any purpose permitted by this Indenture, and the amount of Excess Proceeds will
be reset to zero. 

        The
term "Allocable Excess Proceeds" shall mean the product of: 

        (i)    the
Excess Proceeds and 

        (ii)   a
fraction, 

        (A)  the
numerator of which is the aggregate principal amount of the Notes outstanding on the date of the Prepayment Offer, and 

        (B)  the
denominator of which is the sum of the aggregate principal amount of the Notes outstanding on the date of the Prepayment Offer and the aggregate principal amount of
other Debt of the Company outstanding on the date of the Prepayment Offer that is pari passu in right of payment with the Notes and subject to
terms and conditions in respect of Asset Sales similar in all material respects to this covenant and requiring the Company to make an offer to repurchase such Debt at substantially the same time as
the Prepayment Offer. 

        (d)   The
Company shall effect any Prepayment Offer pursuant to and in accordance with Section 3.09. 

        Section 4.13.
Limitation on Restrictions on Distributions from Restricted Subsidiaries. 

        (a)   Except
for the restrictions set forth herein or imposed by law, the Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, create
or otherwise cause or suffer to exist any consensual restriction on the right of any Restricted Subsidiary to: 

        (i)    pay
dividends, in cash or otherwise, or make any other distributions on or in respect of its Capital Stock, or pay any Debt or other obligation owed, to the Company or
any other Restricted Subsidiary, 

        (ii)   make
any loans or advances to the Company or any other Restricted Subsidiary, or 

        (iii)  transfer
any of its Property to the Company or any other Restricted Subsidiary. 

40

 

        (b)   The
foregoing limitations shall not apply: 

        (i)    with
respect to clauses (a)(i), (ii) and (iii), to restrictions: 

        (A)  in
effect on the Issue Date (including, without limitation, restrictions pursuant to the Notes, this Indenture, a Receivables Program and the Credit Agreement), 

        (B)  relating
to Acquired Indebtedness, or 

        (C)  that
result from the Refinancing of Debt Incurred pursuant to an agreement referred to in clause (i)(A) or (B) above or in clause (ii)(A)
or (B) below, provided that such restrictions are not more restrictive, taken as a whole, with respect to such dividend and other payment
restrictions than those contained in the agreement evidencing the Debt so refinanced (as determined by the Board of Directors in its good faith judgment), and 

        (ii)   with
respect to clause (a)(iii) only, to restrictions: 

        (A)  relating
to Debt that is permitted to be Incurred and secured without also securing the Notes pursuant to the covenants described under Sections 4.09
and 4.11 that limit the right of the debtor to dispose of the Property securing such Debt, 

        (B)  encumbering
Property at the time such Property was acquired by the Company or any Restricted Subsidiary, so long as such restrictions relate solely to the Property so
acquired and were not created in connection with or in anticipation of such acquisition, 

        (C)  resulting
from customary provisions restricting the subletting or assignment of leases or customary provisions in other agreements that restrict the assignment of such
agreements or rights or other non-cash assets thereunder, including, without limitation, customary restrictions imposed on the transfer of copyrighted or patented materials, 

        (D)  customary
restrictions contained in asset sale agreements limiting the transfer of such Property pending the closing of such sale, 

        (E)  contained
in Purchase Money Debt for Property acquired in the ordinary course of business, 

        (F)  included
in customary provisions and agreements with respect to Permitted Joint Ventures, 

        (G)  contained
in any Debt or any agreement pursuant to which such Debt was issued if (i) the encumbrance or restriction applies only upon a payment default or
financial covenant default or event of default contained in such Debt or agreement and (ii) the encumbrance or restriction is not materially more disadvantageous to Holders than is customary in
comparable financings (as determined by the Board of Directors in its good faith judgment), or 

        (H)  resulting
from the application of reasonable and customary borrowing base, net worth and similar covenants set forth in agreements entered into by the Company or a
Restricted Subsidiary in respect of Permitted Debt. 

        Section 4.14.
Limitation on Transactions with Affiliates. 

        (a)   The
Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, conduct any business or enter into or suffer to exist any transaction
or series of transactions (including the purchase, sale, transfer, assignment, lease, conveyance or exchange of any Property or the rendering of any service) with, or for the benefit of, any Affiliate
of the Company (an "Affiliate Transaction") if such Affiliate Transaction or series of Affiliate Transactions involves aggregate consideration in excess
of US$5.0 million, unless: 

41

 

        (i)    the
terms of such Affiliate Transaction are: 

        (A)  set
forth in writing, 

        (B)  fair
and reasonable to the Company or such Restricted Subsidiary, as the case may be, and 

        (C)  no
less favorable to the Company or such Restricted Subsidiary, as the case may be, than those that could reasonably be expected to be obtained in a comparable
arm's-length transaction with a Person that is not an Affiliate of the Company, and 

        (ii)   if
such Affiliate Transaction involves aggregate payments or value in excess of US$10.0 million, the Board of Directors (including at least a majority of the
disinterested members of the Board of Directors) approves such Affiliate Transaction and, in its good faith judgment, determines that such Affiliate Transaction complies with clauses (a)(i)(B)
and (C) of this paragraph as evidenced by a Board Resolution promptly delivered to the Trustee. 

        (b)   Notwithstanding
the foregoing limitation, the Company or any Restricted Subsidiary may enter into or suffer to exist the following: 

        (i)    any
transaction or series of transactions between the Company and one or more Restricted Subsidiaries not otherwise prohibited by any provisions of this Indenture
(excluding, for greater certainty, the provisions described under this Section 4.14) or between two or more Restricted Subsidiaries,  provided that no more than 5% of the total voting power of
the Voting Stock (on a fully diluted basis) of any such Restricted Subsidiary is owned by an
Affiliate of the Company (other than a Restricted Subsidiary); 

        (i)    any
Restricted Payment permitted to be made pursuant to Section 4.10 or any Permitted Investment; 

        (iii)  any
employment, compensation or indemnification agreement entered into by the Company or a Restricted Subsidiary with an employee, officer or director in the ordinary
course of business and substantially consistent with industry practice that is not otherwise prohibited by this Indenture; 

        (iv)  any
transaction or series of transactions between the Company and one or more Wholly Owned Subsidiaries or between two or more Wholly Owned Subsidiaries in connection
with a Receivables Program; and 

        (v)   agreements
in effect on the Issue Date and described in the prospectus and any modifications, extensions or renewals thereto that are no less favorable, taken as a
whole, to the Company or any Restricted Subsidiary than such agreements as in effect on the Issue Date. 

        Section 4.15.
Limitation on Layered Debt. 

        The
Company shall not Incur, directly or indirectly, any Debt that is subordinate or junior in right of payment to any Senior Debt unless such Debt is Senior Subordinated Debt or
constitutes Subordinated Obligations. 

        Section 4.16.
Designation of Restricted and Unrestricted Subsidiaries. 

        (a)   The
Board of Directors may designate any Subsidiary of the Company to be an Unrestricted Subsidiary if: 

        (i)    either
(A) the Company or a Restricted Subsidiary, as the case may be, is permitted to make an Investment in such Subsidiary equal to the sum of the
(1) Fair Market Value of the Capital Stock of such Subsidiary plus (2) the amount of any Debt owed by such Subsidiary to the Company, in each case pursuant to Section 4.10(a)
or (B) such Investment constitutes a Permitted Investment, 

42

 

        (ii)   immediately
after giving pro forma effect to such designation, the Company could Incur at least US$1.00 of additional Debt pursuant to Section 4.09(a)(i),
and 

        (iii)  such
Subsidiary does not own any Capital Stock or Debt of, or own or hold any Lien on any Property of, the Company or any Restricted Subsidiary. 

        (b)   Notwithstanding
the foregoing, following the Issue Date the Company may designate any Subsidiary of the Company, at or prior to the time it becomes a Subsidiary of the
Company, to be an Unrestricted Subsidiary, and unless designated by the Company as an Unrestricted Subsidiary, any Person that becomes a Subsidiary of the Company will be classified as a Restricted
Subsidiary; provided, however, that such Subsidiary shall not be designated a Restricted Subsidiary and shall be automatically classified as an
Unrestricted Subsidiary if the requirements set forth in clauses (d)(i) and (d)(ii) below will not be satisfied after giving pro forma effect to such classification or if such
Person is a Subsidiary of an Unrestricted Subsidiary. 

        (c)   Except
as provided in clause (b) above, no Restricted Subsidiary may be redesignated as an Unrestricted Subsidiary, and neither the Company nor any Restricted
Subsidiary shall at any time be directly or indirectly liable for any Debt that provides that the holder thereof may (with the passage of time or notice or both) declare a default thereon or cause the
payment thereof to be accelerated or payable prior to its Stated Maturity upon the occurrence of a default with respect to any Debt, Lien or other obligation of any Unrestricted Subsidiary (including
any right to take enforcement action against such Unrestricted Subsidiary). Upon designation of a Restricted Subsidiary as an Unrestricted Subsidiary in compliance with this covenant, such Restricted
Subsidiary shall, by execution and delivery of a supplemental indenture in form satisfactory to the Trustee, be released from any Subsidiary Guarantee previously made by such Restricted
Subsidiary.

        (d)   An
Unrestricted Subsidiary may be redesignated as a Restricted Subsidiary by the Board of Directors or, if the Company's interest in the Fair Market Value of the net
assets of such Subsidiary is less than US$10.0 million, the Company, so long as, immediately after giving pro forma effect to such designation, 

        (i)    the
Company could Incur at least US$1.00 of additional Debt pursuant to Section 4.09(a)(i) and 

        (ii)   no
Default or Event of Default shall have occurred and be continuing or would result therefrom. 

        (e)   Any
such designation or redesignation will be evidenced to the Trustee by filing with the Trustee an Officers' Certificate that: 

        (i)    certifies
that such designation or redesignation complies with the foregoing provisions, and 

        (ii)   gives
the effective date of such designation or redesignation, 

and,
if applicable, a Board Resolution giving effect to such designation or redesignation, such filing with the Trustee to occur within 60 days after the end of the fiscal quarter of the
Company in which such designation or redesignation is made (or, in the case of a designation or redesignation made during the last fiscal quarter of the Company's fiscal year, within 90 days
after the end of such fiscal year). 

        Section 4.17.
Future Subsidiary Guarantors. 

        (a)   The
Company shall not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee the payment, or pledge any of its Property to secure the payment,
of other Debt of the Company (other than Unregistered Senior Debt) unless such Restricted Subsidiary concurrently executes and delivers a supplemental indenture with the Company, the Trustee and the
other Guarantors, if any, party hereto providing for the Guarantee, on a senior subordinated basis, of the payment of principal of, and premium, if any, and interest on the Notes. 

43

 

        (b)   Notwithstanding
clause (a) above, any such Guarantee of the Notes will provide by its terms that it will be automatically and unconditionally released and
discharged: 

        (i)    in
connection with any sale or other disposition of all of the assets of that Guarantor (including by way of merger or consolidation) to a Person that is not (either
before or after giving effect to such transaction) a Restricted Subsidiary of the Company, if the sale or other disposition complies with Section 4.12; or 

        (ii)   in
connection with any sale of all or substantially all of the Capital Stock of a Guarantor to a Person that is not (either before or after giving effect to such
transaction) a Restricted Subsidiary of the Company, if the sale complies with Section 4.12 and such Guarantor ceases to be a Subsidiary of the Company; 

provided, however, that any such release and discharge shall occur only to the extent that all obligations of such Guarantor under all of its Guarantees
of the Company's or its Restricted Subsidiaries' Debt shall also terminate upon such release, sale or transfer and none of such Guarantor's equity interests are pledged for the benefit of any holder
of any such Debt of the Company or its Restricted Subsidiaries. 

        Section 4.18.
Repurchase at the Option of Holders Upon a Change of Control Offer. 

        (a)   Upon
the occurrence of a Change of Control, the Company shall be required to make an offer (the "Change of Control
Offer") to each Holder to repurchase all (or, at the option of the Holder, any portion) of the Notes (equal to US$1,000 or an integral multiple thereof) at a purchase price
(the "Change of Control Purchase Price") equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the repurchase date
(subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date). 

        (b)   The
Company shall effect any Change of Control Offer pursuant to and in accordance with Section 3.09. 

        (c)   The
Company will not be required to make a Change of Control Offer following a Change of Control if a third party makes the Change of Control Offer in the manner, at the
times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Company and purchases all Notes validly tendered and not
withdrawn under such Change of Control Offer. 

        Section 4.19.
Additional Amounts. 

        (a)   Payments
made by the Company under or with respect to the Notes will be made free and clear of and without withholding or deduction for or on account of any present or
future tax, duty, levy, interest, assessment or other governmental charge (including penalties, interest and other liabilities related thereto) imposed or levied by or on behalf of the Government of
Canada or of any province or territory thereof or by any authority or agency therein or thereof having power to tax ("Taxes"), unless the Company is
required to withhold or deduct Taxes under Canadian law or by the interpretation or administration thereof by the relevant taxing authority. If, after the Issue Date, the Company is so required to
withhold or deduct any amount for or on account of Taxes from any payment made under or with respect to the Notes, the Company will pay to each Holder of Notes or to the Paying Agent, such additional
amounts ("Additional Amounts") as may be necessary so that the net amount (including the Additional Amounts) received by such Holders after such
withholding or deduction will not be less than the amount such Holders would have received if such Taxes had not been withheld or deducted and similar payments (the term "Additional Amounts" shall
also include any such similar payments) will also be made by the Company to Holders that are not subject to withholding but are required to pay tax directly on amounts otherwise not subject to
withholding; provided that no Additional Amounts will be payable with respect to a payment made to a Holder in respect of the beneficial owner thereof
(an "Excluded Holder"): 

44

 

        (i)    with
which the Company does not deal at arm's length (within the meaning of the Income Tax Act (Canada)) at the time of making such payment, 

        (ii)   which
is subject to such Taxes by reason of its being connected with Canada or any province or territory thereof otherwise than by the mere holding of the Notes,
receipt of payments thereunder or enforcement of its rights in respect thereof, 

        (iii)  to
the extent that such Holder is subject to such Taxes by reason of such Holder's failure to comply with any certification, identification, documentation or other
reporting requirements if compliance is required by law, regulation, administrative practice or an applicable treaty as a precondition to exemption from, or a reduction in the rate of deduction or
withholding of, such Taxes but only to the extent that such Holder is legally able to comply with such requirements, 

        (iv)  in
circumstances where presentation of the Notes for payment is required, if the Notes are presented for payment more than 15 days after the date on which such
payment became due and payable or the date on which such payment is duly provided for, whichever is later (except to the extent that the holder would have been entitled to such Additional Amounts had
the Notes been presented on the last day of such 15-day period), or 

        (v)   that
is a fiduciary, a partnership or a person other than the beneficial owner of any payment on a Note, if and to the extent that, as a result of an applicable tax
treaty, no Additional Amounts would have been payable had the applicable beneficiary, partner or beneficial owner owned the Notes directly (but only if there is no material cost or expense associated
with transferring such Notes to such beneficiary, partner or beneficial owner and no restriction on such transfer that it outside the control of such beneficiary, partner or beneficial owner). 

        (b)   The
Company shall: 

        (i)    make
such withholding or deduction, and 

        (ii)   remit
the full amount deducted or withheld to the relevant authority in accordance with applicable law. 

        (c)   The
Company shall furnish to the Trustee, or cause to be furnished to the Trustee, promptly after the payment of any Taxes becomes due pursuant to applicable law, copies
of tax receipts evidencing such payment by the Company in such form as is provided in the normal course by the taxing authority imposing such Taxes and which is reasonably available to the Company. 

        (d)   The
Company shall indemnify and hold harmless each Holder of Notes that are outstanding on the date of the required payment (other than an Excluded Holder) and upon
written request reimburse each such Holder for the amount of: 

        (i)    any
Taxes so levied or imposed and paid by such Holder as a result of payments made under or with respect to the Notes, 

        (ii)   any
expenses arising therefrom or with respect thereto, and 

        (iii)  any
Taxes imposed with respect to any reimbursement under clause (a) above. 

        (e)   If
the Company becomes obligated to pay Additional Amounts with respect to any payment under or in respect of the Notes, at least 30 days prior to the date on
which such payment becomes due and payable (unless such obligations arise after such date), the Company will deliver to the Trustee an Officers' Certificate stating the fact that such Additional
Amounts will be payable, and setting forth the amounts so payable, including Additional Amounts, and such other information as is necessary to enable the Trustee to pay such Additional Amounts to the
Holders on the payment date. For purposes of this First Supplemental Indenture any reference to: 

45

 

        (i)    the
payment of principal (and premium, if any), 

        (ii)   purchase
prices in connection with a repurchase or redemption of Notes, 

        (iii)  interest,
or 

        (iv)  any
other amount payable on or with respect to any of the Notes (including in connection with a Change of Control Offer or Prepayment Offer), 

shall
be deemed to include the payment of Additional Amounts provided for in this Section 4.19 to the extent that, in such context, Additional Amounts are, were or would be payable in
respect thereof. 

        (f)    This
Section 4.19 shall survive any termination, defeasance, Covenant Defeasance or discharge of this Indenture and shall survive the repayment of all or any of
the Notes. 

        (g)   The
indemnity requirements set forth in Section 6.07 of the Base Indenture shall be applicable to any actions taken or omitted to be taken by the Trustee in
reliance on an Officers' Certificate delivered pursuant to this Section 4.19. 

        Section 4.20.
Covenant Termination. 

        The
provisions of Article 4 shall be applicable to the Company and the Restricted Subsidiaries unless the Company reaches Investment Grade Status. After the Company has reached
Investment Grade Status, and notwithstanding that the Company may later cease to have an Investment Grade Rating from either or both of the Rating Agencies, the Company and the Restricted Subsidiaries
will be released automatically and without any action on the part of the Company from their obligations to comply with Sections 4.09, 4.10, 4.12, 4.13, 4.14, 4.16(d)(i) (and such
clause (d)(i) as referred to in Section 4.16(a)), 4.17 and Section 5.01(a)(iv). 

 
 

ARTICLE 5.
  
    SUCCESSORS    
    

        This Article 5 shall replace and supersede Article 8 of the Base Indenture in its entirety. 

        Section 5.01.
Merger, Consolidation and Sale of Assets 

        (a)   The
Company shall not effect an arrangement or merge, consolidate or amalgamate with or into any other Person (other than a merger or amalgamation of a Wholly Owned
Restricted Subsidiary with or into the Company) or sell, transfer, assign, lease, convey or otherwise dispose of all or substantially all its Property in any one transaction or series of transactions
unless: 

        (i)    the
Company shall be the Surviving Person in such arrangement, merger, consolidation or amalgamation, or the Surviving Person (if other than the Company) formed by such
arrangement, merger, consolidation or amalgamation or to which such sale, transfer, assignment, lease, conveyance or disposition is made shall be a corporation organized and existing under the laws of
Canada or any province or territory thereof or the United States of America, any State thereof or the District of Columbia; 

        (ii)   the
Surviving Person (if other than the Company) expressly assumes, by supplemental indenture in form reasonably satisfactory to the Trustee, executed and delivered to
the Trustee by such Surviving Person, the due and punctual payment of the principal of, and premium, if any, and interest on, all the Notes, according to their tenor, and the due and punctual
performance and observance of all the covenants and conditions of this Indenture to be performed by the Company; 

        (iii)  immediately
before and after giving effect to such transaction or series of transactions on a pro forma basis
(and treating, for purposes of this clause (iii) and clause (iv) below, any Debt that becomes, or is anticipated to become, an obligation of the Surviving Person or any Restricted
Subsidiary as a result of such transaction or series of transactions as having been Incurred by the Surviving Person or such Restricted Subsidiary at the time of such transaction or series of
transactions), no Default or Event of Default shall have occurred and be continuing; 

46

 

        (iv)  other
than in the case of any merger, amalgamation, consolidation, sale, transfer, assignment, lease, conveyance or other disposal between or among the Company and its
Wholly Owned Subsidiaries, immediately after giving effect to such transaction or series of transactions on a pro forma basis, the Company or the
Surviving Person, as the case may be, would be able to Incur at least US$1.00 of additional Debt under Section 4.09(a)(i); and 

        (v)   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 transaction or series of transactions and the supplemental indenture, if any, with respect thereto comply with this covenant and that all conditions
precedent herein
provided for relating to such transaction or series of transactions have been satisfied, including, where a supplemental indenture is required, receipt of Opinions of Counsel pursuant to
Section 8.01(2). 

        Section 5.02.
Successor Corporation Substituted. 

        Upon
any transaction or series of transactions not prohibited under Section 5.01, the Surviving Person shall succeed to, and be substituted for and may exercise every right and
power of the Company under this Indenture; provided that the predecessor company in the case of: 

        (a)   a
sale, transfer, assignment, conveyance or other disposition of all or substantially all of its Property (unless such sale, transfer, assignment, conveyance or other
disposition is of all the Property of the Company as an entirety or virtually as an entirety), or 

        (b)   a
lease, 

shall
not be released from any of the obligations or covenants under this Indenture, including with respect to the payment of the Notes. 

 
 

ARTICLE 6.
  
    DEFAULTS AND REMEDIES    
    

        This Article 6 shall replace and supersede Article 5 of the Base Indenture in its entirety. 

        Section 6.01.
Events of Default. 

        Each
of the following constitutes an "Event of Default" with respect to the Notes: 

        (a)   failure
to make the payment of any interest on the Notes when the same becomes due and payable, and such failure continues for a period of 30 days; 

        (b)   failure
to make the payment of any principal of, or premium, if any, on, any of the Notes when the same becomes due and payable at its Stated Maturity, upon
acceleration, redemption, optional redemption, required repurchase or otherwise; 

        (c)   failure
to comply with the covenants described under Sections 4.09, 4.10, 4.12, 4.18 and 5.01 and such failure continues for 30 days after written notice
is given to the Company as provided below; 

47

 

        (d)   failure
to comply with any other covenant or agreement in the Notes or in this Indenture (other than a failure that is the subject of the foregoing clause (a),
(b) or (c)), and such failure continues for 60 days after written notice is given to the Company as provided below; 

        (e)   a
default under any Debt by the Company or any Restricted Subsidiary (other than any Debt of the Company owed to any Wholly Owned Restricted Subsidiary or any Debt of
any Restricted Subsidiary owed to the Company or any Wholly Owned Restricted Subsidiary) that results in acceleration of the maturity of such Debt, or failure to pay any such Debt at maturity, in an
aggregate amount greater than US$50.0 million or its foreign currency equivalent at the time; 

        (f)    any
judgment or judgments for the payment of money in an aggregate amount in excess of US$25.0 million (or its foreign currency equivalent at the time) that shall
be rendered against the Company or any Restricted Subsidiary and that shall not be waived, satisfied, discharged or acknowledged by a third party insurer to be its exclusive liability for any period
of 60 consecutive days during which a stay of enforcement shall not be in effect; 

        (g)   the
Company or any of its Significant Subsidiaries or any group of Subsidiaries that, when taken together, would constitute a Significant Subsidiary pursuant to or
within the meaning of any Bankruptcy Law: 

        (A)  commences
a voluntary case or gives notice of intention to make a proposal under any Bankruptcy Law; 

        (B)  consents
to the entry of an order for relief against it in an involuntary case or consents to its dissolution or winding-up (other than the dissolution or
winding-up of a Significant Subsidiary due to requirements under applicable corporate law); 

        (C)  consents
to the appointment of a receiver, interim receiver, receiver and manager, liquidator, trustee or custodian of it or for all or substantially all of its
property; 

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

        (E)  admits
in writing its inability to pay its debts as they become due or otherwise admits its insolvency; or 

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

        (A)  is
for relief against the Company or any of its Significant Subsidiaries or any group of Subsidiaries that, when taken together, would constitute a Significant
Subsidiary in an involuntary case; or 

        (B)  appoints
a receiver, interim receiver, receiver and manager, liquidator, trustee or custodian of the Company or any of its Significant Subsidiaries or any group of
Subsidiaries that, when taken together, would constitute a Significant Subsidiary or for all or substantially all of the property of the Company or any of its Significant Subsidiaries or any group of
Subsidiaries that, when taken together, would constitute a Significant Subsidiary; or 

        (C)  orders
the liquidation of the Company or any of its Significant Subsidiaries or any group of Subsidiaries that, when taken together, would constitute a Significant
Subsidiary; 

and
such order or decree remains unstayed and in effect for 60 consecutive days. 

48

  

        The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written notice in the form of an Officers' Certificate of any Event of Default, its status
and what action the Company is taking or proposes to take with respect thereto. 

        Section 6.02.    Acceleration.

        If
any Event of Default (other than those set forth in Section 6.01(g) or (h)) occurs and is continuing, the Trustee may, and the Trustee upon the request of Holders of 25%
in principal amount of the outstanding Notes shall, or the Holders of at least 25% in principal amount of outstanding Notes may, declare the principal of all the Notes, together with all accrued and
unpaid interest, premium, if any, to be due and payable by notice in writing to the Company and the Trustee (if such notice is given by Holders) specifying the respective Event of Default and that
such notice is a notice of acceleration (the "Acceleration Notice"), and the same shall become immediately due and payable to the date of acceleration.
Notwithstanding the foregoing, a Default under clause (d) shall not constitute an Event of Default until the Trustee or the Holders of not less than 25% in aggregate principal amount of the
Notes then outstanding notify the Company of the Default and the Company does not cure such Default within the time specified after receipt of such notice. Such notice must specify the Default, demand
that it be remedied and state that such notice is a "Notice of Default." 

        In
the case of an Event of Default specified in Section (g) or (h) of Section 6.01 hereof, all outstanding Notes shall become due and payable immediately without any
further declaration or other act on the part of the Trustee or the Holders. Holders may not enforce this Indenture or the Notes except as provided in this Indenture. 

        Section 6.03.    Other
Remedies. 

        If
an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest on the Notes or to enforce
the performance of any provision of the Notes or this Indenture. 

        The
Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in
exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy of the Trustee or the Holders or constitute a waiver of or acquiescence in the Event of Default.
All rights and remedies of the Trustee and the Holders shall be cumulative to the extent permitted by law. 

        Section 6.04.    Waiver
of Defaults. 

        (a)   The
Holders of at least a majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may, on behalf of the Holders of all of the
Notes, waive any existing Default or Event of Default or compliance with any provisions of this First Supplemental Indenture and the Note, and its consequences, except a continuing Default or Event of
Default (i) in the payment of the principal of, premium, if any, or interest, on the Notes and (ii) in respect of a covenant or provision which under this Indenture cannot be modified or
amended without the consent of either the Holder of each Note affected by such modification or amendment or Holders of at least 75% in aggregate principal amount of the Notes then outstanding. 

        (b)   Upon
any waiver of a Default or Event of Default, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed cured for every purpose
of this Indenture but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 

        Section 6.05.    Control
by Majority. 

        Subject
to Section 6.01, Section 6.03(5) (including the Trustee's receipt of the security or indemnification described therein) and Section 6.07 of the Base
Indenture, in case an Event of Default shall occur and be continuing, the Holders of a majority in aggregate principal amount of the Notes then outstanding shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Notes provided that (i) such
direction shall not be in conflict with any rule of law or with this Indenture, expose the Trustee to personal liability, or be unduly prejudicial to Holders not joining therein and (ii) the
Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 

49

 

        Section 6.06.    Limitation
on Suits. 

        No
Holder shall have any right to institute any proceeding with respect to this Indenture, or for the appointment of a receiver or trustee, or for any remedy thereunder, unless: 

        (a)   such
Holder has previously given to the Trustee written notice of a continuing Event of Default or the Trustee receives the notice from the Company, 

        (b)   Holders
of at least 25% in aggregate principal amount of the Notes then outstanding have made written request and offered reasonable indemnity to the Trustee to
institute such proceeding in its own name as trustee, 

        (c)   the
Trustee shall not have received from the Holders of a majority in aggregate principal amount of the Notes then outstanding a direction inconsistent with such request
and shall have failed to institute such proceeding within 60 days. 

        The
preceding limitations shall not apply to a suit instituted by a Holder for enforcement of payment of principal of, and premium, if any, or interest on, a Note on or after the
respective due dates for such payments set forth in such Note. 

        A
Holder may not use this Indenture to affect, disturb or prejudice the rights of another Holder or to obtain a preference or priority over another Holder or to enforce any right under
this Indenture, except in the manner herein provided and for the equal and ratable benefit for all of the Holders. 

        Section 6.07.    Rights
of Holders to Receive Payment. 

        Notwithstanding
any other provision of this Indenture (including Section 6.06), the right of any Holder to receive payment of principal, premium, if any, and interest on the Notes
held by such Holder, on or after the respective due dates expressed in the Notes (including in connection with an Offer to Purchase), or to bring suit for the enforcement of any such payment on or
after such respective dates, shall not be impaired or affected without the consent of such Holder. 

        Section 6.08.    Collection
Suit by Trustee. 

        If
an Event of Default specified in Section 6.01 occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against
the Company for the whole amount of principal of, premium, if any, and interest then due and owing (together with interest on overdue principal and, to the extent lawful, interest) and such further
amount as shall be sufficient to cover the costs and expenses of collection, and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and any other
amounts due under Section 6.07 of the Base Indenture. 

        If
an Event of Default with respect to Notes occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders 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. 

50

 

        Section 6.09.    Trustee
May File Proofs of Claim. 

        The
Trustee (irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee
shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered to file such proofs of claim for the whole amount of principal (and premium,
if any and accrued and unpaid interest with respect to the Notes) and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company (or any other obligor
upon the Notes), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any
custodian 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 to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts
due the Trustee under Section 6.07 of the Base Indenture. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee and its agents and
counsel, and any other amounts due the Trustee under Section 6.07 of the Base Indenture made out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall
be secured by a Lien on, and shall be paid out of, any and all distributions, moneys, securities and any other properties that the Holders may be entitled to receive in such proceeding whether in
liquidation or under any plan of reorganization or arrangement or otherwise. 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 Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding. 

        Section 6.10.    Priorities.

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

        First:    to the Trustee, its agents and attorneys for amounts due under Section 6.07 of the Base Indenture, including
payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

        Second:    subject to the terms of Article 10, to Holders for amounts due and unpaid on the Notes for principal,
premium, if any, and interest ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively; and 

        Third:    to the Company or to such party as a court of competent jurisdiction shall direct. 

        The
Trustee, upon prior notice to the Company; may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. 

        Section 6.11.    Undertaking
for Costs. 

        In
any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its
discretion may require the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and the court in its discretion may assess reasonable costs, including reasonable
attorneys' fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 shall not apply
to a suit by the Trustee, a suit by the Company, a suit by a Holder pursuant to Section 6.07 hereof, or a suit by Holders of more than 10% in principal amount of the then outstanding
Notes. 

51

 

        Section 6.12.    Restorations
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 such proceeding had not been instituted. 

        Section 6.13.    Delay
or Omission Not Waiver. 

        No
delay or omission of the Trustee or of any Holder 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 6 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. 

 
 

ARTICLE 7.
  
    LEGAL DEFEASANCE AND COVENANT DEFEASANCE    
    

        This Article 7 shall replace and supersede Article 14 of the Base Indenture in its entirety. 

        Section 7.01.    Option
to Effect Legal Defeasance or Covenant Defeasance. 

        The
Company may, at its option and at any time, elect to have either Section 7.02 or 7.03 hereof be applied to all outstanding Notes upon compliance with the conditions set
forth in this Article 7 and, to the extent applicable, Sections 9.02 and 9.03. 

        Section 7.02.    Legal
Defeasance and Discharge. 

        Upon
the Company's exercise under Section 7.01 of the option applicable to this Section 7.02, the Company shall, subject to the satisfaction of the conditions set forth in
Section 7.04, be deemed to have been discharged from its obligations with respect to all outstanding Notes on the date the conditions set forth below are satisfied (hereinafter,  "Legal
Defeasance"). For this purpose, Legal Defeasance means that the Company shall be deemed to have paid and discharged the
entire Debt represented by the outstanding Notes, which shall thereafter be deemed to be "outstanding" only for the purposes of Section 7.05 and the other Sections of this Indenture
referred to in (a) and (b) below, and to have satisfied all its other obligations under the Notes and this Indenture (and the Trustee, on demand of and at the expense of the Company,
shall execute proper instruments acknowledging the same), except for the following provisions which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders
of outstanding Notes to receive solely from the trust fund described in Section 7.04, and as more fully set forth in such Section, payments in respect of the principal of, premium, if
any, or interest on such Notes when such payments are due, (b) the Company's obligations with respect to such Notes under Article 2 and Sections 4.01 and 4.02,
(c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company's obligations in connection therewith including the Company's obligations under
Section 6.07 of the Base Indenture and (d) this Article 7. If the Company exercises under Section 7.01 the option applicable to this Section 7.02, subject to the
satisfaction of the conditions set forth in Section 7.04, payment of the Notes may not be accelerated because of an Event of Default. Subject to compliance with this Article 7, the
Company may exercise its option under this Section 7.02 notwithstanding the prior exercise of its option under Section 7.03. 

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        Section 7.03.    Covenant
Defeasance. 

        Upon
the Company's exercise under Section 7.01 of the option applicable to this Section 7.03, the Company shall, subject to the satisfaction of the conditions set forth in
Section 7.04, be released from its obligations under the covenants contained in Sections 4.06, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15 and 4.17 hereof, and the operation of
Section 5.01(a)(iv), with respect to the outstanding Notes on and after the date the conditions set forth in Section 7.04 are satisfied (hereinafter,  "Covenant
Defeasance") and the Notes shall thereafter be deemed not "outstanding" for the purposes of
any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed "outstanding" for all other
purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding
Notes, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not
constitute a Default or an Event of Default under Section 6.01, but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. If the Company
exercises under Section 7.01 the option applicable to this Section 7.03, subject to the satisfaction of the conditions set forth in Section 7.04, payment of the Notes may not be
accelerated because of an Event of Default specified in Section 7.04 (d) (with respect to Sections 4.06, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15 and 4.17), (e),
(f) or (g) (with respect only to Significant Subsidiaries) under Section 6.01 or because of the failure of the Company to comply with clause (a)(iv) under
Section 5.01. 

        Section 7.04.    Conditions
to Legal or Covenant Defeasance. 

        The
following shall be the conditions to the application of either Section 7.02 or 7.03 to the outstanding Notes. 

        The
Legal Defeasance or Covenant Defeasance may be exercised only if: 

        (a)   the
Company irrevocably deposits in trust with the Trustee money or U.S. Government Obligations for the payment of principal of, premium, if any, and interest on
the Notes to maturity or redemption, as the case may be; 

        (b)   the
Company delivers to the Trustee a certificate from a nationally recognized firm of independent certified public accountants expressing their opinion that the
payments of principal, premium, if any, and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment will provide cash
at such times and in such amounts as will be sufficient to pay principal, premium, if any, and interest when due on all the Notes to be defeased to maturity or redemption, as the case may be; 

        (c)   123 days
pass after the deposit is made, and during the 123-day period, no Default described in clause (g) or (h) under
Section 6.01 occurs with respect to the Company or any other Person making such deposit which is continuing at the end of the period; 

        (d)   no
Default or Event of Default has occurred and is continuing on the date of such deposit and after giving effect thereto; 

        (e)   such
deposit does not constitute a default under any other agreement or instrument binding on the Company; 

        (f)    the
Company delivers to the Trustee an Opinion of Counsel to the effect that the trust resulting from the deposit does not constitute, or is qualified as, a regulated
investment company under the Investment Company Act of 1940; 

        (g)   in
the case of Legal Defeasance, the Company delivers to the Trustee an Opinion of Counsel stating that: 

        (1)   the
Company has received from the Internal Revenue Service a ruling, or 

        (2)   subsequent
to the Issue Date, there has been a change in the applicable Federal income tax law, to the effect, in either case, that, and based thereon such Opinion of
Counsel shall confirm that, the Holders will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such Legal Defeasance and will be subject to
U.S. Federal income tax on the same amounts, in the same manner and at the same time as would have been the case if such Legal Defeasance had not occurred; 

53

 

        (h)   in
the case of Covenant Defeasance, the Company delivers to the Trustee an Opinion of Counsel to the effect that the Holders will not recognize income, gain or loss for
U.S. Federal income tax purposes as a result of such Covenant Defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have
been the case if such Covenant Defeasance had not occurred; 

        (i)    in
the case of either Legal Defeasance or Covenant Defeasance, the Company delivers to the Trustee an Opinion of Counsel of Canadian counsel to the effect that Holders
will not recognize income, gain or loss for Canadian tax purposes as a result of such deposit and defeasance and will be subject to Canadian Federal, territorial and provincial taxes (including
withholding taxes) on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; and 

        (j)    the
Company delivers to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the
Notes have been complied with as required by this Indenture. 

 
 

ARTICLE 8.
  
    AMENDMENT, SUPPLEMENT AND WAIVER    
    

        This Article 8 shall replace and supersede Article 9 of the Base Indenture in its entirety. 

        Section 8.01.    Without
Consent of Holders of Notes. 

        Notwithstanding
Section 8.02 of this First Supplemental Indenture, the Company (when authorized by a Board Resolution) and the Trustee may amend or supplement this Indenture or
the Notes without the consent of any Holder to: 

        (1)   cure
any ambiguity, omission, defect or inconsistency in any manner that is not adverse in any material respect to any Holder, 

        (2)   provide
for the assumption by a Surviving Person of the obligations of the Company under this Indenture, provided, that
the Company delivers to the Trustee: (a) an Opinion of Counsel to the effect that Holders will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such
assumption by the Surviving Person and will be subject to U.S. Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such assumption
had not occurred, and (b) an Opinion of Counsel of Canadian counsel to the effect that Holders will not recognize income, gain or loss for Canadian tax purposes as a result of such assumption
by the Surviving Person and will be subject to Canadian federal, provincial and territorial taxes (including withholding taxes) on the same amounts, in the same manner and at the same times as would
have been the case if such assumption had not occurred, 

        (3)   provide
for uncertificated Notes in addition to or in place of certificated Notes (provided that the uncertificated Notes
are issued in registered form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of the Code), 

        (4)   add
Guarantees with respect to the Notes, 

        (5)   secure
the Notes, add to the covenants of the Company for the benefit of the Holders or surrender any right or power conferred upon the Company, 

54

 

        (6)   make
any change that does not adversely affect the rights of any Holder, 

        (7)   make
any change to the subordination provisions of this Indenture that would limit or terminate the benefits available to any holder of Senior Debt under such
provisions, 

        (8)   comply
with any requirement of the Commission in connection with the qualification of this Indenture under the TIA, or 

        (9)   provide
for the issuance of Additional Notes in accordance with this Indenture. 

        Section 8.02.    With
Consent of Holders of Notes. 

        The
Company and the Trustee with the consent of the holders of at least a majority in aggregate principal amount of the Notes then outstanding (including consents obtained in connection
with a tender offer or exchange offer for the Notes) may amend this Indenture and the Notes, and the holders of at least a majority in aggregate principal amount of the Notes outstanding may waive any
past default or compliance with any provisions of this Indenture and the Notes (except a default in the payment of principal, premium, interest, and certain covenants and provisions of this Indenture
which cannot be amended without the consent of each holder of an outstanding Note). However, without the consent of each affected holder of an outstanding Note, no amendment may, 

        (1)   reduce
the amount of Notes whose holders must consent to an amendment or waiver, 

        (2)   reduce
the rate of, or extend the time for payment of, interest on any Note, 

        (3)   reduce
the principal of, or extend the Stated Maturity of, any Note, 

        (4)   make
any Note payable in money other than that stated in the Note, 

        (5)   impair
the right of any Holder to receive payment of principal of, premium, if any, and interest on, such Holder's Notes on or after the due dates therefor or to
institute suit for the enforcement of any payment on or with respect to such Holder's Notes, 

        (6)   release
any security interest that may have been granted in favor of the Holders other than pursuant to the terms of such security interest, 

        (7)   reduce
the premium payable upon the redemption of any Note or change the time at which any Note may be redeemed, as described under Section 3.07, 

        (8)   reduce
the premium payable pursuant to a Change of Control Offer or, at any time after a Change of Control has occurred, change the time at which the Change of Control
Offer relating thereto must be made or at which the Notes must be repurchased pursuant to such Change of Control Offer; provided, that, prior to the
occurrence of a Change of Control, the holders of a majority in aggregate principal amount of the Notes then outstanding may waive the requirement to complete a Change of Control Offer or otherwise
change such requirements other than to reduce the premium payable pursuant to a Change of Control Offer, 

        (9)   at
any time after the Company is obligated to make a Prepayment Offer in respect of Excess Proceeds from Asset Sales, change the time at which such Prepayment Offer must
be made or at which the Notes must be repurchased pursuant thereto, or 

        (10) amend
or modify the provisions described under Section 4.19. 

        In
addition, any amendment to the subordination provisions of this Indenture that would adversely affect the rights of Holders will require the consent of holders of at least 75% in
aggregate principal amount of the Notes then outstanding. 

55

 

        The
Company may, but shall not be obligated to, fix a record date for the purpose of determining the Persons entitled to consent to any amendment or supplemental indenture. If a record
date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to consent to such amendment or supplemental indenture, whether or not such
Holders remain Holders after such record date; provided that unless such consent shall have become effective by virtue of the requisite percentage
having been obtained prior to the date which is 120 days after such record date, any such consent previously given shall automatically and without further action by any Holder be cancelled and
of no further effect. 

        It
shall not be necessary for the consent of the Holders under this Section 8.02 to approve the particular form of any proposed amendment or waiver, but it shall be
sufficient if such consent approves the substance thereof. 

        After
an amendment, supplement or waiver under this Section 8.02 becomes effective, the Company shall mail to the Holder of each Note affected thereby to such Holder's address
appearing in the Security Register a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any
way impair or affect the validity of any such amended or supplemental indenture or waiver. 

        Section 8.03.    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 entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by
this Indenture. The Trustee 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 8.04.    Effect
of Supplemental Indentures. 

        Upon
the execution of any supplemental indenture under this Article, this First Supplemental Indenture shall be modified in accordance therewith, and such supplemental indenture shall
form a part of this First Supplemental Indenture for all purposes, and every Holder theretofore or thereafter authenticated and delivered hereunder and of any coupons appertaining thereto shall
be bound thereby. 

        Section 8.05.    Compliance
with Trust Indenture Act. 

        Every
amendment or supplement to this Indenture or the Notes shall be set forth in an amended or supplemental indenture that complies with the TIA as then in effect. 

        Section 8.06.    Revocation
and Effect of Consents. 

        Until
an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or portion
thereof that evidences the same debt as the consenting Holder's Note, even if notation of the consent is not made on any Note. However, any such Holder or subsequent Holder may revoke the consent as
to its Note or portion thereof if the Trustee receives written notice of revocation before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or waiver shall
become effective in accordance with its terms and thereafter shall bind every Holder. 

        Section 8.07.    Notation
on or Exchange of Notes. 

        The
Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company in exchange for all Notes may issue and, upon
receipt of an Authentication Order in
accordance with Section 2.02 hereof, the Trustee shall authenticate new Notes that reflect the amendment, supplement or waiver. 

56

 

        Failure
to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver. 

        Section 8.08.    Trustee
to Sign Amendments, etc. 

        The
Trustee shall sign any amended or supplemental indenture authorized pursuant to this Article 8 if the amendment or supplement does not adversely affect the rights, duties,
liabilities or immunities of the Trustee. The Company may not sign an amendment or supplemental indenture until its Board of Directors approves the same. In executing any amended or supplemental
indenture, the Trustee shall be entitled to receive and (subject to Section 6.01 of the Base Indenture) shall be fully protected in relying upon an Officers' Certificate and an Opinion of
Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted by this Indenture and that such amended or supplemental indenture is the legal, valid and
binding obligations of the Company enforceable against it in accordance with its terms, subject to customary exceptions and that such amended or supplemental indenture complies with the provisions
hereof (including Section 8.05). 

 
 

ARTICLE 9.
  
    SATISFACTION AND DISCHARGE    
    

        This Article 9 shall replace and supersede Article 4 of the Base Indenture in its entirety. 

        Section 9.01.    Satisfaction
and Discharge. 

        This
Indenture shall be discharged and shall cease to be of further effect as to all Notes issued hereunder, when: 

        (a)   either:

        (1)   all
Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money has been deposited in
trust and thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or 

        (2)   all
Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the mailing of a notice of redemption or otherwise or
will become due and payable within one year, and the Company has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in
U.S. dollars, non-callable U.S. Government Obligations, or a combination of cash in U.S. dollars and non-callable U.S. Government Obligations, in
such amounts as will be sufficient without consideration of any reinvestment of interest, to pay and discharge the entire indebtedness on the Notes not delivered to the Trustee for cancellation for
principal, premium and accrued interest to the date of maturity or redemption; 

        (b)   no
Default or Event of Default has occurred and is continuing on the date of the deposit or shall occur as a result of such deposit and such deposit will not result in a
breach or violation of, or constitute a default under, any other instrument to which the Company is a party or by which the Company is bound; 

        (c)   the
Company has paid or caused to be paid all sums payable by it under this Indenture; and 

        (d)   the
Company has delivered a Company Request to the Trustee under this Indenture to apply the deposited money toward the payment of the Notes at maturity or the
Redemption Date, as the case may be. 

57

 

        In
addition, the Company shall deliver an Officers' Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge of this
Indenture have been satisfied. Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.07 of the Base Indenture shall
survive. 

        Section 9.02.    Deposited
Cash and U.S. Government Securities to be Held in Trust; Other Miscellaneous Provisions. 

        Subject
to Section 9.03, all cash and non-callable U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying
trustee, collectively for purposes of this Section 9.02, the "Trustee") pursuant to Section 9.01 or Section 7.04 in respect of the outstanding Notes shall be held in trust and
applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent)
as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest but such cash and securities need not be
segregated from other funds except to the extent required by law. 

        The
Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable U.S. Government
Obligations deposited pursuant to Section 9.01 or 7.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the
account of the Holders of the outstanding Notes. 

        Anything
in Article 7 or this Article 9 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon receipt of a
Company Request any cash or non-callable U.S. Government Obligations held by it as provided in Section 9.01 and 7.04 which, in the opinion of a nationally recognized
firm of independent certified public accountants expressed in a written certification thereof delivered to the Trustee are in excess of the amount thereof that would then be required to be deposited
to effect an equivalent discharge or Legal Defeasance or Covenant Defeasance, as the case may be. 

        Section 9.03.    Repayment
to Company. 

        The
Trustee shall promptly, and in any event, no later than five (5) Business Days, pay to the Company after request therefor, any excess money held with respect to the Notes at
such time in excess of amounts required to pay any of the Company's Obligations then owing with respect to the Notes. The Trustees shall have no duty to invest any such monies. 

        Any
cash or non-callable U.S. Government Obligations deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the
principal of, premium, if any, or interest on, any Note pursuant to Section 9.01 or Section 7.04 and remaining unclaimed for two years after such principal, and premium, if any,
or interest has become due and payable shall be paid to the Company on its request or (if then held by the Company) shall be discharged from such trust; and the Holder shall thereafter, as an
unsecured creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such cash and securities, 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 The New York Times and The Wall Street
Journal (national edition), notice that such cash and securities remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from
the date of such notification or publication, any unclaimed balance of such cash and securities then remaining shall be repaid to the Company. The Trustee shall have no duty to invest any such monies. 

        Section 9.04.    Reinstatement.

        If
the Trustee or Paying Agent is unable to apply any cash or non-callable U.S. Government Obligations in accordance with Section 9.02 by reason of any order or
judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company's obligations under this Indenture and the Notes shall be revived and
reinstated as though no deposit had occurred pursuant to Section 9.02 until such time as the Trustee or Paying Agent is permitted to apply all such cash and securities in accordance with
Section 9.02; provided, however, that, if the Company makes any payment of principal of, premium, if any, or interest on any Note following the
reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders to receive such payment from the cash and securities held by the Trustee or Paying Agent. 

58

 
 
 

ARTICLE 10.
  
    SUBORDINATION    
    

        Section 10.01    Agreement
to Subordinate. 

        The
Company agrees, and each Holder by accepting a Note agrees, that the payment of principal of, premium, if any, and interest on, and all other amounts payable in respect of, the Notes
is subordinated in right of payment, to the extent and in the manner provided in this Article 10 and subject to the provisions of Article 8 hereof, to the payment when due
in cash of all Senior Debt of the Company and that the subordination is for the benefit of and enforceable by the holders of such Senior Debt. The Notes shall in all respects rank pari passu
with any future Senior Subordinated Debt and senior to all existing and future Subordinated Debt of the Company, and only Senior Debt shall rank senior to the Notes in accordance with the provisions
set forth herein. All provisions of this Article 10 shall be subject to Section 10.12. All references to "Senior Debt" in this Article 10 are to Senior Debt of the Company.
Notwithstanding anything to the contrary, the obligations of the Company under Section 6.07 of the Base Indenture shall not be subordinated to the payment of any Senior Debt pursuant to this
Article 10. 

        This
Article 10 shall constitute a continuing offer to all Persons who, in reliance upon such Article, become holders of, or continue to hold, Senior Debt, and such provisions are
made for the benefit of the holders of Senior Debt, and such holders are made obligees hereunder and they or each of them may enforce such provisions. 

        Section 10.02    Liquidation,
Dissolution, Bankruptcy. 

        (a)   Upon
any payment or distribution of the assets of the Company to creditors upon a liquidation, dissolution or winding-up of the Company or in a bankruptcy,
reorganization, insolvency, receivership or similar proceeding relating to the Company or its property or upon an assignment for the benefit of the Company's creditors or the marshaling of its assets
and liabilities, the holders of Senior Debt will be entitled to receive payment in full in cash before the Holders are entitled to receive any payment of principal of, premium, if any, or interest on,
the Notes, except that Holders may receive and retain such payments made in Permitted Junior Securities and payments from the trust described in Article 8 hereof. 

        (b)   Until
the Senior Debt is paid in full in cash, any distribution to which Holders would be entitled but for this Article 10 will be made to holders of the Senior
Debt as their interests may appear (except that Holders may receive and retain payments made in Permitted Junior Securities and payments and other distributions made from the trust described in
Article 7 hereof; provided that (i) no Holder shall have the right to receive and retain any such Permitted Junior Securities if the existence of such right would have the effect of
causing the Notes to be treated in the same class of claims as the Senior Debt of the Company or any class of claims which is pari passu with such Senior Debt and (ii) holders of Senior
Debt shall be entitled to receive any cash payments made to any Holder of Notes on the account of Permitted Junior Securities until all Obligations in respect of Senior Debt have been paid in full in
cash). 

        Section 10.03.    Default
on Senior Debt. 

        The
Company may not pay (except in Permitted Junior Securities or from the trust described in Article 7 hereof) principal of, or premium, if any, or interest on, the Notes, or
make any deposit pursuant to Section 7.04, and may not repurchase, redeem or otherwise retire any Notes (collectively, "pay the Notes") if
(a) any principal, premium, interest or any other amount payable in respect of any Senior Debt is not paid within any applicable grace period (including at maturity) or (b) any other
default on Senior Debt occurs and the maturity of such Senior Debt is accelerated in accordance with its terms unless, in either case, (1) the default has been cured or waived and any such
acceleration has been rescinded or (2) such Senior Debt has been paid in full in cash; provided, however, that the Company may pay the Notes without regard to the foregoing if the Company and
the Trustee receive written notice approving such payment from the Representative of the holders of such Senior Debt or, if there is no Representative, from the holders of such Senior Debt. 

59

 

        During
the continuance of any default (other than a default described in clause (a) or (b) of the preceding sentence) with respect to any Designated Senior Debt pursuant to
which the maturity thereof may be accelerated immediately without further notice (except any notice required to effect the acceleration) or upon the expiration of any applicable grace period, the
Company may not pay any amounts outstanding or in respect of the Notes for a period (a "Payment Blockage Period") commencing upon the receipt by the
Company and the Trustee of written notice of such default from the Representative of the holders of such Designated Senior Debt or, if there is no Representative, from the holders of such Designated
Senior Debt specifying an election to effect a Payment Blockage Period (a "Payment Blockage Notice") and ending 179 days thereafter (unless such
Payment Blockage Period is earlier terminated by written notice to the Trustee and the Company from the Representative of the holders of such Designated Senior Debt or, if there is no Representative,
from the holders of such Designated Senior Debt that gave such Payment Blockage Notice, (a) because such default is no longer continuing or (b) because such Designated Senior Debt has
been repaid in full in cash). Not more than one Payment Blockage Notice with respect to all issues of Designated Senior Debt may be given in any consecutive 360-day period, irrespective of
the number of defaults with respect to one or more issues of Designated Senior Debt during such period. Following the expiration of any period during which the Company is prohibited from making
payments on the Notes pursuant to a Payment Blockage Notice, the Company shall (unless otherwise prohibited as described in the first two sentences of this paragraph) resume making any and all
required payments in respect of the Notes, including, without limitation, any missed payments, unless the maturity of any Designated Senior Debt has been accelerated, and such acceleration remains in
full force and effect. 

        The
Company shall give prompt written notice to the Trustee of any default in the payment of any Senior Debt or any acceleration under any Senior Debt or under any agreement pursuant to
which Senior Debt may have been issued. Failure to give such notice shall not effect the subordination of the Notes to the Senior Debt or the application of the other provisions provided in this
Article 10. 

        Section 10.04.    Acceleration
of Payment of Securities. 

        If
payment of the Notes is accelerated when Designated Senior Debt is outstanding, the Company may not pay the Notes until three Business Days after the Representative of the holders of
such Designated Senior Debt or, if there is no Representative, the holders of such Designated Senior Debt receive notice of such acceleration and, thereafter, may pay the Notes only if this Indenture
otherwise permits payment at that time. 

        Section 10.05.    When
Distribution Must Be Paid Over. 

        If
a payment or distribution is made to Holders that because of this Article 10 should not have been made to them, the Trustee or the Holders who receive the distribution shall
return such payment or distribution to the Company or other payor, as the case may be. 

        Section 10.06.    Subrogation.

        After
all Senior Debt is paid in full and until the Notes are paid in full, Holders shall be subrogated (equally and ratably with all other Debt that is pari passu with the Notes)
to the rights of holders of Senior Debt to receive distributions applicable to Senior Debt to the extent that distributions otherwise payable to the Holders have been applied to the payment of Senior
Debt. A distribution made under this Article 10 to holders of Senior Debt that otherwise would have been made to Holders is not, as between the Company and Holders, a payment by the
Company on such Senior Debt. 

60

  

Section 10.07. Relative Rights 

        This
Article 10 defines the relative rights of Holders and holders of Senior Debt. Nothing in this Indenture shall: 

        (a)   impair,
as between the Company and Holders, the obligation of the Company, which is absolute and unconditional, to pay principal of, premium, if any, and interest on,
the Notes in accordance with their terms; 

        (b)   affect
the relative rights of Holders and creditors of the Company other then their rights in relation to holders of Senior Debt; or 

        (c)   prevent
the Trustee or any Holder from exercising its available remedies upon a Default or an Event of Default, subject to the rights of holders of Senior Debt to
receive distributions otherwise payable to Holders. 

Section 10.08.
Subordination May Not Be Impaired by Company 

        No
right of any holder of Senior Debt to enforce the subordination of the Debt evidenced by the Notes shall be impaired by any act or failure to act by the Company or by its failure to
comply with this Indenture. 

Section 10.09.
Rights of Trustee and Paying Agent 

        Notwithstanding
Section 10.03, the Trustee or Paying Agent may continue to make payments on the Notes and shall not be charged with knowledge of the existence of facts that would
prohibit the making of any such payments unless, not less than two Business Days prior to the date of such payment, a Responsible Officer receives notice satisfactory to it that payments may not be
made under this Article 10. The Company, the Security Registrar or co-Security Registrar, the Paying Agent, a Representative or a holder of Senior Debt may give the notice on behalf
of such holders; provided, however, that, if an issue of Senior Debt has a Representative, only the Representative may give the notice. 

        The
Trustee in its individual or any other capacity may hold Senior Debt with the same rights it would have if it were not Trustee. The Security Registrar and co-Security
Registrar and the Paying Agent may do the same with like rights. The Trustee shall be entitled to all the rights set forth in this Article 10 with respect to any Senior Debt that may at any
time be held by it, to the same extent as any other holder of such Senior Debt; and nothing in Article 6 shall deprive the Trustee of any of its rights as such holder. Nothing in this
Article 10 shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.07. 

Section 10.10.
Distribution or Notice to Representative 

        Whenever
a distribution is to be made or a notice given to holders of Senior Debt, the distribution may be made and the notice given to their Representative (if any). 

Section 10.11.
Article 10 Not to Prevent Events of Default or Limit Right to Accelerate 

        Nothing
in this Article 10 shall prevent an Event of Default in accordance with Article 6 or have any effect on the right of the Holders or the Trustee to accelerate
the maturity of the Notes or to exercise the rights and remedies in Article 6. 

Section 10.12.
Trust Moneys Not Subordinated 

        Notwithstanding
anything contained herein to the contrary, payments from cash or the proceeds of non-callable U.S. Government Securities held in trust under
Article 7 by the Trustee for the payment of principal of and interest on the Notes shall not be subordinated to the prior payment of any Senior Debt or subject to the restrictions set forth in
this Article 10, and none of the Holders shall be obligated to pay over any such amount to the Company or any holder of Senior Debt or any other creditor of the Company. 

61

 

Section 10.13.
Trustee Entitled to Rely 

        Upon
any payment or distribution pursuant to this Article 10, the Trustee and the Holders shall be entitled to rely (a) upon any order or decree of a court of competent
jurisdiction in which any proceedings of the nature referred to in Section 10.02 are pending, (b) upon a certificate of the liquidating trustee or agent or other Person making such
payment or distribution to the Trustee or to the Holders or (c) upon a certificate of the Representative of the holders of Senior Debt or, if there is no Representative, the holders of Senior
Debt for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of Senior Debt and other Debt of the Company, the amount thereof or payable
thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article 10. In the event that the Trustee determines, in good faith, that evidence is
required with respect to the right of any Person as a holder of Senior Debt to participate in any payment or distribution pursuant to this Article 10, the Trustee may request such Person to
furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Debt held by such Person, the extent to which such Person is entitled to participate in such payment or
distribution and other facts pertinent to the rights of such Person under this Article 10, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending
judicial determination as to the right of such Person to receive such payment. The provisions of Section 6.01 and 6.03 of the Base Indenture shall be applicable to all actions or
omissions of actions by the Trustee pursuant to this Article 11. 

Section 10.14.
Trustee to Effectuate Subordination 

        Each
Holder by accepting a Note authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination
between the Holders and the holders of Senior Debt as provided in this Article 10 and appoints the Trustee as attorney-in-fact for any and all such purposes. 

Section 10.15.
Trustee Not Fiduciary for Holders of Senior Debt 

        The
Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders if it shall mistakenly pay over or distribute to
Holders or the Company or any other Person, money or assets to which any holders of Senior Debt shall be entitled by virtue of this Article 10 or otherwise, except if such mistake was
the result of the Trustee's gross negligence or willful misconduct. 

Section 10.16.
Reliance by Holders of Senior Debt on Subordination Provisions 

        Each
Holder by accepting a Note acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any
Senior Debt, whether such Senior Debt was created or acquired before or after the issuance of the Notes, to acquire and continue to hold, or to continue to hold, such Senior Debt and such holder of
such Senior Debt shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Debt. 

Section 10.17.
Notice to Trustee 

        The
Company shall give prompt written notice to a Responsible Officer of the Trustee located at the Corporate Trust Office of any fact known to the Company which would prohibit the
making of any payment to or by the Trustee in respect of the Notes. Notwithstanding the provisions of this Article or any other provision of this Indenture, the Trustee shall not be charged with
knowledge of the existence of any facts which would prohibit the making of any payment to or by the Trustee in respect of the Notes, unless and until the Trustee shall have received at its Corporate
Trust Office written notice thereof from the Company or a holder of Senior Debt or from any trustee therefor, and, prior to the receipt of any such written notice, the Trustee, subject to the
provisions of Section 6.01 of the Base Indenture, shall be entitled in all respects to assume that no such facts exist; provided, however, that if the Trustee shall
not have received the notice provided for in this Section 10.17 at least two Business Days prior to the date upon which by the terms hereof any money becomes payable for any purpose (including
the payment of the principal of, and premium, if any, or interest on any Note), then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to
receive such money and to apply the same to the purpose for which such money was received and shall not be affected by any notice to the contrary which may be received by it during or after such two
Business Day period. 

62

 

        Subject
to the provisions of Section 6.01 of the Base Indenture, the Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself
to be a holder of Senior Debt (or a trustee therefor) to establish that such notice has been given by a holder of Senior Debt (or a trustee therefor). In the event that the Trustee determines in good
faith that further evidence is required with respect to the right of any Person as a holder of Senior Debt to participate in any payment or distribution pursuant to this Article 10, the Trustee
may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Debt held by such Person, the extent to which such Person is entitled to
participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article 10, and if such evidence is not furnished, the Trustee may defer
any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 

 
 

ARTICLE 11.
  
    MISCELLANEOUS  
    

Section 11.01.
Notices. 

        Any
notice or communication by the Company or the Trustee to the other shall be duly given if in writing and delivered in person or mailed by first class mail (registered or certified,
return receipt requested), facsimile transmission or overnight air courier guaranteeing next-day delivery, to the other's address as set forth in Section 1.05 of the Base Indenture. 

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

        For
purposes of this First Supplemental Indenture, all notices and communications (other than those sent to the Trustee or Holders) shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if sent by facsimile transmission; and the next
Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next-day delivery. All notices and communications to the Trustee or Holders shall be deemed
duly given and effective only upon receipt. Notwithstanding the foregoing, a notice or communication mailed in the manner provided above within the time prescribed, shall be duly given, whether or not
received by the addressee. 

        Any
notice or communication to a Holder shall be mailed by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing
next-day delivery to its address shown on the Security Register. Any notice or communication shall also be so mailed to any Person described in TIA § 313(c), to the
extent required by the TIA. 

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

Section 11.02.
Certificate and Opinion as to Conditions Precedent. 

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

63

 

        (a)   an
Officers' Certificate in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in Section 1.02 of the Base
Indenture) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

        (b)   an
Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in Section 1.02 of the Base
Indenture) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been complied with. 

Section 11.03.
No Personal Liability of Directors, Officers, Employees and Stockholders. 

        No
past, present or future director, officer, employee, incorporator or stockholder of the Company shall have any liability for any obligations of the Company under the Notes, this
Indenture, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes. The waiver and release may not be effective to waive or release liabilities under the federal securities laws. 

Section 11.04.
Governing Law. 

        THE
INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE AND THE NOTES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE
EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

Section 11.05.
No Adverse Interpretation of Other Agreements. 

        This
Indenture may not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt
agreement may not be used to interpret this Indenture. 

Section 11.06.
Successors. 

        All
covenants and agreements of the Company in this First Supplemental Indenture and the Notes shall bind its successors. All covenants and agreements of the Trustee in this First
Supplemental Indenture shall bind its successors. 

Section 11.07.
Severability. 

        To
the extent permitted by applicable law, in case any provision in this First Supplemental Indenture or in the Notes shall be invalid, illegal or unenforceable in any respect or for any
reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or impaired thereby and shall remain
enforceable to the fullest extent permitted by law. 

Section 11.08.
Consent to Jurisdiction and Service of Process. 

        (a)   The
Company irrevocably consents to the non-exclusive jurisdiction of the courts of the State of New York and the courts of the United States
of America located in the Borough of Manhattan, City and State of New York over any suit, action or proceeding with respect to this Indenture or the transactions contemplated hereby. The
Company waives any objection that it may have to the venue of any suit, action or proceeding with respect to this Indenture or the transactions contemplated hereby in the courts of the State of
New York or the courts of the United States of America, in each case, located in the Borough of Manhattan, City and State of New York, or that such suit, action or proceeding
brought in the courts of the State of New York or the United States of America, in each case, located in the Borough of Manhattan, City and State of New York was brought in an
inconvenient court and agrees not to plead or claim the same. 

64

 

        (b)   The
Company irrevocably appoints CT Corporation System, as its authorized agent upon which process may be served in any such suit or proceedings, and agrees that service
of process upon such agent, and written notice of said service to CT Corporation System, by the person serving the same to the address of the Company or its counsel as provided in Section 1.05
of the Base Indenture, shall be deemed in every respect effective service of process upon the Company in any such suit or proceeding. 

        The
Company further agrees to take any and all action as may be necessary to maintain such designation and appointment of such agent in full force and effect for so long as this First
Supplemental Indenture shall be in full force and effect; provided that the Company may and shall (to the extent that CT Corporation Systems ceases to
be able to be served on the basis contemplated herein), by written notice to the Trustee, designate such additional or alternative agents for service of process under this Section 11.08 that:
(i) maintains an office located in the Borough of Manhattan, City and State of New York; (ii) is either (A) counsel for the Company; or (B) a corporate service
company which acts as agent for service of process for other Persons in the ordinary course of its business; and (iii) agrees to act as agent for service of process in accordance with this
Section 11.08. 

Section 11.09.
Counterpart Originals. 

        The
parties may sign any number of copies of this First Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

Section 11.10.
Table of Contents, Headings, etc. 

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

        [Signatures
on following page] 

65

SIGNATURES  

Dated
as of June 16, 2004 

	 	 	CELESTICA INC.
	 	 	 	 
	

 	
 	

By:	

/s/  ANTHONY P. PUPPI      
 Name: Anthony P. Puppi

Title: Chief Financial Officer

	 	 	Trustee:
	 	 	 	 
	 	 	JPMORGAN CHASE BANK, as Trustee
	

 	
 	

By:	

/s/  L. OBRIEN      
 Name: L. OBrien

Title: Vice President

   EXHIBIT A

(Face
of Note) 

77/8% SENIOR SUBORDINATED NOTES DUE 2011  

	 	 	CUSIP                         
	No.                         	 	US$                             

CELESTICA INC.

promises
to pay to CEDE & CO., INC. or registered assigns, the principal sum of                         
United States Dollars
(US$                        ) on July 1, 2011. 

Interest
Payment Dates: January 1 and July 1, commencing January 1, 2005. 

Record
Dates: December 15 and June 15. 

Dated:
                        . 

A-1

 

        IN
WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile by its duly authorized officer. 

	 	 	CELESTICA INC.
	
 	
 	

By:	

 
	 	 	 	
 Name: Anthony P. Puppi

Title: Chief Financial Officer
	
 	
 	

 	

 
	This is one of the [Global]

Notes referred to in the

within-mentioned Indenture:	 	 	 
	
 	
 	

 	

 
	JPMORGAN CHASE BANK,

as Trustee	 	 	 
	
 	
 	

 	

 
	By:                                       
          

      Authorized Signatory	 	 	 
	
 	
 	

 	

 
	Dated: June 16, 2004	 	 	 

A-2

 
(Back
of Note) 

77/8%
SENIOR SUBORDINATED NOTES due 2011 

        "THIS
GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT
TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.05 OF THE FIRST SUPPLEMENTAL INDENTURE,
(II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.05 OF THE FIRST SUPPLEMENTAL INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 3.10 OF THE BASE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 

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

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

        1.     Interest.    Celestica Inc., an Ontario corporation (the
"Company"), promises to pay interest on the principal amount of this Note at 77/8% per annum until maturity. The Company shall pay
interest semi-annually on January 1 and July 1 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each an
"Interest Payment Date"). Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid,
from June 16, 2004; provided, however, that if there is no existing Default in the payment of interest, and if this Note is authenticated between
a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date;  provided, further, that the first Interest Payment Date shall be the first of January or July to occur
after the date of issuance, unless such January or July occurs within one calendar month of such date of issuance, in which case the first Interest Payment Date shall be January 1, 2005. The
Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, at the same rate per annum that is then
in effect under the Indenture and this Note. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. For the purposes of the  Interest Act (Canada), the yearly rate of interest
which is equivalent to the rate payable hereunder is the rate payable multiplied by the actual number
of days in the year and divided by 360. 

        2.     Method of Payment.    The Company shall pay interest on the Notes (except defaulted interest) to the Persons in
whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the December 15 or June 15 next preceding the Interest Payment Date, even if such Notes
are cancelled after such record date and on or before such Interest Payment Date, except as provided in Section 3.07 of the Base Indenture with respect to defaulted interest. The Notes shall be
payable as to principal, premium, if any, and interest at the office or agency of the Company maintained for such purpose, or, at the option of the Company, payment of interest may be made by check
mailed to the Holders at their addresses set forth in the Security Register; provided, however, that
payment by wire transfer of immediately available funds shall be required with respect to principal of and interest and premium, if any, on, all Global Notes and all other Notes the Holders of which
shall have provided wire transfer instructions to the Paying Agent. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for
payment of public and private debts. 

A-3

 

        3.     Paying Agent and Security Registrar.    Initially, JPMorgan Chase Bank, the Trustee under the Indenture, shall
act as Paying Agent and Security Registrar. The Company may change any Paying Agent or Security Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such
capacity. 

        4.     Indenture.    The Company issued the Notes under the First Supplemental Indenture, dated as of June 16,
2004, by and between the Company and JPMorgan Chase Bank, as trustee (the "Trustee") (the "First Supplemental Indenture") to the Indenture, dated as of June 16, 2004, between the Company and
the Trustee (formerly, The Chase Manhattan Bank) (the "Base Indenture" and, together with the First Supplemental Indenture, the "Indenture"). The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the U.S. Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb).
The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express
provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. 

        5.     Optional Redemption.

        (a)   Except
as set forth below, the Notes shall not be redeemable at the option of the Company prior to    July 1, 2008. Starting on that date, the Company
may redeem all or any portion of the Notes, at once or over time, after giving the notice required pursuant to Section 3.03 of the First Supplemental Indenture. The Notes may be redeemed at the
redemption prices set forth below, plus accrued and unpaid interest, to but excluding the applicable Redemption Date (subject to the right of Holders of record on the relevant Regular Record Date to
receive interest due on the relevant Interest Payment Date). The following prices are for Notes redeemed during the 12-month period commencing on July 1 of the years set forth
below, and are expressed as percentages of principal amount: 

	Year
 
	 	Redemption Price

	2008	 	103.938%
	2009	 	101.969%
	2010 and thereafter	 	100.000%

        (b)   In
addition, at any time and from time to time prior to July 1, 2008, the Company may elect to redeem all or any portion of the Notes, after giving the notice
required pursuant to Section 3.03 of the First Supplemental Indenture, at a redemption price equal to the greater of: 

        (i)    100%
of the principal amount of Notes to be redeemed, and 

        (ii)   the
sum of the present values of (1) the redemption price of the Notes to be redeemed at July 1, 2008 (as set forth in the prior paragraph) of the Notes
to be redeemed, and (2) the remaining scheduled payments of interest from the Redemption Date to July 1, 2008, but excluding accrued and unpaid interest to the Redemption Date,
discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points,
plus, in either case, accrued and unpaid interest to the Redemption Date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on the relevant Interest
Payment Date). 

A-4

 

        (c)   In
addition, at any time and from time to time, prior to July 1, 2007, the Company may redeem up to 35% of the aggregate principal amount of the Notes (including
any Additional Notes) then outstanding with the net cash proceeds of one or more Public Equity Offerings, at a redemption price equal to 107.875% of the principal amount, plus accrued and unpaid
interest, to but excluding the Redemption Date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date);  provided,
however, that after giving effect to any such redemption, at least 65% of the aggregate
principal amount of the Notes (including any Additional Notes) remains outstanding. Any such redemption shall be made within 90 days of the closing of such Public Equity Offering and upon not
less than 30 nor more than 60 days' prior notice. 

        (d)   (i)    The
Company may, at its option, at any time redeem in whole but not in part the outstanding Notes at a redemption price of 100% of the principal amount
thereof plus accrued and unpaid interest (if any) to but excluding the date of redemption if it has become or would become obligated to pay on the next date on which any amount would be payable under
or in respect of the Notes any Additional Amounts in respect of the Notes as a result of: 

        (A)  any
change in or amendment to the laws (or regulations promulgated thereunder) of Canada (or any political subdivision or taxing authority thereof or therein), or 

        (B)  any
change in or amendment to any official position regarding the application or interpretation of such laws or regulations, 

in
either case, which change or amendment is announced or is effective on or after the Issue Date (unless announced prior to the Issue Date). 

        (ii)   It
shall be a condition to the Company's right to redeem the Notes pursuant to the provisions set forth in the immediately preceding paragraph that, prior to giving any
notice of redemption of the Notes, the Company shall have delivered to the Trustee: 

        (A)  an
Officers' Certificate stating that the obligation to pay such Additional Amounts cannot be avoided by the Company taking reasonable measures available to it; and 

        (B)  an
Opinion of Counsel that the Company has or will become obligated to pay, on the next date on which any amount would be payable with respect to the Notes, Additional
Amounts in respect of the Notes as a result of an amendment or change of the type described in clause (i) above, which opinion, in the case of an announced amendment or change, may assume that
the announced amendment or change will become effective as of the date specified in such announcement and in the form announced and, where the change or amendment is one described in
clause (i)(B) above, may assume such official position accurately reflects the relevant law. 

        (e)   Any
notice to the Holders of Notes of a redemption pursuant to clause (b) above shall include the appropriate calculation of the redemption price, but need not
include the redemption price itself. The actual redemption price, calculated as described above, shall be set forth in an Officers' Certificate delivered to the Trustee no later than two Business Days
prior to the Redemption Date. 

        6.     Mandatory Redemption.    There is no mandatory sinking fund payment with respect to the Notes. Except as set
forth in Sections 4.12 and 4.18 of the First Supplemental Indenture, the Company shall not be required to make mandatory redemption payments with respect to the Notes. 

        7.     Repurchase at Option of Holder.

	(a)
	Upon
the occurrence of a Change of Control, the Company shall be required to make an offer to each Holder to repurchase all (or, at the option of the Holder, any portion) of such
Holder's Notes (equal to US$1,000 or an integral multiple of US$1,000) (a "Change of Control Offer") at a purchase price equal to 101% of the aggregate
principal amount of the Notes repurchased, plus accrued and unpaid interest on the Notes repurchased to the repurchase date (subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date. 

A-5

 

        (b)   When
the aggregate amount of Net Available Cash from all Asset Sales following the Issue Date not applied in accordance with Section 4.12(b) of the First
Supplemental Indenture exceeds US$10.0 million, then pursuant to and in accordance with Section 3.09 of the First Supplemental Indenture, the Company shall commence an offer to
repurchase (a "Prepayment Offer"), the maximum principal amount of Notes (including any Additional Notes) that may be purchased out of the portion of
the Net Available Cash that is allocable to the Notes as determined in accordance with Section 4.12(c) of the First Supplemental Indenture at an offer price in cash equal to 100% of the
principal amount thereof plus accrued and unpaid interest to the date fixed for the closing of such offer. To the extent that the aggregate amount of Notes (including Additional Notes) tendered
pursuant to a Prepayment Offer is less than such Net Available Cash, the Company (or such Restricted Subsidiary) may use such deficiency for any purpose not prohibited by the Indenture. If the
aggregate principal amount of Notes surrendered by Holders thereof exceeds the amount of such Net Available Cash, the Trustee shall select the Notes to be purchased on a  pro rata basis. Holders of
Notes that are the subject of an offer to purchase will receive a Prepayment Offer from the Company prior to any
related purchase date and may elect to have such Notes purchased by completing the form entitled "Option of Holder to Elect Purchase" on the reverse of the Notes. 

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

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

        10.   Persons Deemed Owners.    The registered Holder of a Note may be treated as its owner for all purposes, except
as required by law. 

        11.   Amendment, Supplement and Waiver.    Subject to certain exceptions, the Company and the Trustee may amend or
supplement the Indenture or the Notes with the consent of the Holders of a majority in principal amount of the then outstanding Notes, including Additional Notes, if any, voting as a single class
(including consents obtained in connection with a purchase of or tender offer or exchange offer for the Notes), and, subject to Sections 6.04 and 6.07 of the First Supplemental
Indenture, any existing Default or Event of Default (except a continuing Default or Event of Default in the payment of principal, premium, if any, interest on the Notes) or compliance with any
provision of the Indenture or the Notes (except for certain covenants and provisions of the Indenture which cannot be amended without the consent of each Holder) may be waived with the consent of the
Holders of a majority in principal amount of the then outstanding Notes, including Additional Notes, if any, then outstanding voting as a single class (including consents obtained in connection with a
purchase of or tender offer or exchange offer for the Notes). In addition, any amendment to the subordination provisions of the Indenture that would adversely affect the rights of Holders will require
the consent of holders of at least 75% in aggregate principal amount of the Notes then outstanding. Without the consent of any Holder, the Company and the Trustee may amend or supplement the Indenture
or the Notes to (1) cure any ambiguity, omission, defect or inconsistency in any manner that is not adverse in any material respect to any holder of the Notes; (2) provide for the
assumption by a Surviving Person of the obligations of the Company under the Indenture, provided, that the Company delivers to the Trustee:
(a) an Opinion of Counsel to the effect that holders of the Notes will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such assumption by the
Surviving Person and will be subject to U.S. Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such assumption had not occurred,
and (b) an Opinion of Counsel to the effect that holders of the Notes will not recognize income, gain or loss for Canadian tax purposes as a result of such assumption by the Surviving Person
and will be subject to Canadian federal, provincial and territorial taxes (including withholding taxes) on the same amounts, in the same manner and at the same times as would have been the case if
such assumption had not occurred; (3) provide for uncertificated Notes in addition to or in place of certificated Notes (provided that the
uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of
the Code); (4) add Guarantees with respect to the Notes; (5) secure the Notes, add to the covenants of the Company for the benefit of the holders of the Notes or surrender any right or
power conferred upon the Company; (6) make any change that does not adversely affect the rights of any Holder of the Notes; (7) make any change to the subordination provisions of the
Indenture that would limit or terminate the benefits available to any holder of Senior Debt under such provisions; (8) comply with any requirement of the Commission in connection with the
qualification of the Indenture under the Trust Indenture Act; or (9) provide for the issuance of Additional Notes in accordance with the Indenture. 

A-6

 

        12.   Defaults and Remedies.    Each of the following is an Event of Default under the Indenture: (a) failure
to make the payment of any interest on the Notes when the same becomes due and payable, and such failure continues for a period of 30 days; (b) failure to make the payment of any
principal of, or premium, if any, on, any of the Notes when the same becomes due and payable at its Stated Maturity, upon acceleration, redemption, optional redemption, required repurchase or
otherwise; (c) failure to comply with the covenants described under Sections 4.09, 4.10, 4.12, 4.18 and 5.01 of the First Supplemental Indenture and such failure continues for
30 days after written notice is given to the Company as provided in Section 6.01 of the First Supplemental Indenture; (d) failure to comply with any other covenant or agreement in
the Notes or in the (other than a failure that is the subject of the foregoing clause (a), (b) or (c)), and such failure continues for 60 days after written notice is given to the
Company as provided in Section of 6.01 of the First Supplemental Indenture; (e) a default under any Debt by the Company or any Restricted Subsidiary (other than any Debt of the Company owed to
any Wholly Owned Restricted Subsidiary or any Debt of any Restricted Subsidiary owed to the Company or any Wholly Owned Restricted Subsidiary) that results in acceleration of the maturity of such
Debt, or failure to pay any such Debt at maturity, in an aggregate amount greater than US$50.0 million or its foreign currency equivalent at the time; (f) any judgment or judgments for
the payment of money in an aggregate amount in excess of US$25.0 million (or its foreign currency equivalent at the time) that shall be rendered against the Company or any Restricted Subsidiary
and that shall not be waived, satisfied, discharged or acknowledged by a third party insurer to be its exclusive liability for any period of 60 consecutive days during which a stay of enforcement
shall not be in effect; and (g) certain events involving bankruptcy, insolvency or reorganization of the Company or any Significant Subsidiary. 

        If
any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Notes may declare all the Notes to be due and
payable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency described in the First Supplemental Indenture, all outstanding Notes
shall become due and payable without further action or notice. Holders may not enforce the First Supplemental Indenture or the Notes except as provided in the First Supplemental Indenture. Subject to
certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from
Holders notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal or interest) if it determines that withholding notice is in
their interest. The Holders of a majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing
Default or Event of Default and its consequences under the First Supplemental Indenture except a continuing Default or Event of Default in the payment of interest, or the principal of, the Notes and
in respect of a covenant or provision which under the First Supplemental Indenture cannot be modified or amended without the consent of either each Holder affected by such modification or amendment or
Holders of at least 75% in aggregate principal amount of the Notes then outstanding. The Company is required to deliver to the Trustee annually a statement regarding compliance with the First
Supplemental Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default. 

A-7

 

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

        14.   No Recourse Against Others.    No past, present or future director, officer, employee, incorporator or
stockholder of the Company, as such, shall have any liability for any obligations of the Company or any Guarantor, if any, under the First Supplemental Indenture, the Notes, or for any claim based on,
in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release is not effective to release
liabilities under US federal securities laws. 

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

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

        17.   CUSIP Numbers.    Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Company has caused CUSIP numbers to be printed on the Notes and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is
made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice and reliance may be placed only on the other identification numbers placed thereon. 

        The
Company shall furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 

Celestica Inc.

1150 Eglinton Avenue East

Toronto, Ontario M3C 1H7

Canada 

        18.   Governing Law.    The internal law of the State of New York shall govern and be used to construe this
Note without giving effect to applicable principals of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby. 

A-8

 
Option
of Holder to Elect Purchase 

If
you want to elect to have this Note purchased by the Company pursuant to Section 4.12 or 4.18 of the First Supplemental Indenture, check the box below: 

o        Section 4.12

o        Section 4.18 

If you want to elect to have only part of the Note purchased by the Company pursuant to Section 4.12 or Section 4.18 of the First Supplemental Indenture, state
the amount you elect to have purchased: 

	US$                                       
          	 	 
	
 	
 	

 
	Date:                                       
          	 	Your
Signature:                                       
          
	
 	
 	

 
	 	 	Tax Identification
No.:                                        
         
	
 	
 	

 
	 	 	SIGNATURE GUARANTEE:
	
 	
 	

 
	 	 	                                        
                                          

	
 	
 	

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

A-9

 
Assignment Form

To
assign this Note, fill in the form below: 

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

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

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

and
irrevocably
appoint                                        
                                          
                                       

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

	

 	

 	
 	

 	

 
	Date:	 	 	 	 
	 	
	 	 	 
	 	 	 	Your Signature:	 
	 	 	 	 	

	
 	

 	
 	

 	

 
	 	 	 	Signature Guarantee:	 
	 	 	 	 	

A-10

 
 

[SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE]    

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

	Date of Exchange
 
	 	Amount of

decrease in

Principal Amount

of this Global Note
	 	Amount of increase

in Principal Amount

of this Global Note
	 	Principal Amount

of this Global Note

following such

decrease (or increase)
	 	Signature of

authorized signatory

of Trustee or Custodian

	 	 	 	 	 	 	 	 	 

  

 
 

TABLE OF CONTENTS    
    

	 
	 	 
	 	Page

	 ARTICLE 1.    DEFINITIONS AND INCORPORATION BY REFERENCE	 	1
	 	Section 1.01.	 	Definitions	 	1
	 	Section 1.02.	 	Other Definitions	 	22
	 	Section 1.03.	 	Incorporation by Reference of Trust Indenture Act	 	22
	 	Section 1.04.	 	Rules of Construction	 	23
	
 ARTICLE 2.    THE NOTES	
 	

23
	 	Section 2.01.	 	General	 	23
	 	Section 2.02.	 	Execution and Authentication	 	24
	 	Section 2.03.	 	Security Registrar, Paying Agent and Depositary	 	24
	 	Section 2.04.	 	Paying Agent to Hold Money in Trust	 	24
	 	Section 2.05.	 	Transfer and Exchange	 	25
	 	Section 2.06.	 	Outstanding Notes	 	26
	 	Section 2.07.	 	Treasury Notes	 	27
	 	Section 2.08.	 	Issuance of Additional Notes	 	27
	
 ARTICLE 3.    REDEMPTION AND PREPAYMENT	
 	

27
	 	Section 3.01.	 	Notices to Trustee	 	27
	 	Section 3.02.	 	Selection of Notes to Be Redeemed	 	27
	 	Section 3.03.	 	Notice of Redemption	 	28
	 	Section 3.04.	 	Effect of Notice of Redemption	 	29
	 	Section 3.05.	 	Deposit of Redemption Price	 	29
	 	Section 3.06.	 	Notes Redeemed in Part	 	29
	 	Section 3.07.	 	Optional Redemption	 	29
	 	Section 3.08.	 	Mandatory Redemption	 	30
	 	Section 3.09.	 	Offer To Purchase	 	31
	
 ARTICLE 4.    COVENANTS	
 	

32
	 	Section 4.01.	 	Payment of Notes	 	33
	 	Section 4.02.	 	Maintenance of Office or Agency	 	33
	 	Section 4.03.	 	Reports	 	33
	 	Section 4.04.	 	Compliance Certificate	 	34
	 	Section 4.05.	 	Taxes	 	34
	 	Section 4.06.	 	Stay, Extension and Usury Laws	 	34
	 	Section 4.07.	 	Corporate Existence	 	35
	 	Section 4.08.	 	Payments for Consent	 	35
	 	Section 4.09.	 	Limitation on Debt and Preferred Stock	 	35

i

 

	 
	 	 
	 	Page

	 	Section 4.10.	 	Limitation on Restricted Payments	 	37
	 	Section 4.11.	 	Limitation on Liens	 	39
	 	Section 4.12.	 	Limitation on Asset Sales	 	39
	 	Section 4.13.	 	Limitation on Restrictions on Distributions from Restricted Subsidiaries	 	40
	 	Section 4.14.	 	Limitation on Transactions with Affiliates	 	41
	 	Section 4.15.	 	Limitation on Layered Debt	 	42
	 	Section 4.16.	 	Designation of Restricted and Unrestricted Subsidiaries	 	42
	 	Section 4.17.	 	Future Subsidiary Guarantors	 	43
	 	Section 4.18.	 	Repurchase at the Option of Holders Upon a Change of Control Offer	 	44
	 	Section 4.19.	 	Additional Amounts	 	44
	 	Section 4.20.	 	Covenant Termination	 	46
	
 ARTICLE 5.    SUCCESSORS	
 	

46
	 	Section 5.01.	 	Merger, Consolidation and Sale of Assets	 	46
	 	Section 5.02.	 	Successor Corporation Substituted	 	47
	 	
 ARTICLE 6.    DEFAULTS AND REMEDIES	
 	

47
	 	Section 6.01.	 	Events of Default	 	47
	 	Section 6.02.	 	Acceleration	 	49
	 	Section 6.03.	 	Other Remedies	 	49
	 	Section 6.04.	 	Waiver of Defaults	 	49
	 	Section 6.05.	 	Control by Majority	 	49
	 	Section 6.06.	 	Limitation on Suits	 	50
	 	Section 6.07.	 	Rights of Holders to Receive Payment	 	50
	 	Section 6.08.	 	Collection Suit by Trustee	 	50
	 	Section 6.09.	 	Trustee May File Proofs of Claim	 	51
	 	Section 6.10.	 	Priorities	 	51
	 	Section 6.11.	 	Undertaking for Costs	 	51
	 	Section 6.12.	 	Restorations of Rights and Remedies	 	52
	 	Section 6.13.	 	Delay or Omission Not Waiver	 	52
	
 ARTICLE 7.    LEGAL DEFEASANCE AND COVENANT DEFEASANCE	
 	

52
	 	Section 7.01.	 	Option to Effect Legal Defeasance or Covenant Defeasance	 	52
	 	Section 7.02.	 	Legal Defeasance and Discharge	 	52
	 	Section 7.03.	 	Covenant Defeasance	 	52
	 	Section 7.04.	 	Conditions to Legal or Covenant Defeasance	 	53

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	 	Page

	 	Section 7.05.	 	Deposited Cash and U.S. Government Securities to be Held in Trust; Other Miscellaneous Provisions	 	54
	 	Section 7.06.	 	Repayment to Company	 	54
	 	Section 7.07.	 	Reinstatement	 	55
	
 ARTICLE 8.    AMENDMENT, SUPPLEMENT AND WAIVER	
 	

55
	 	Section 8.01.	 	Without Consent of Holders of Notes	 	55
	 	Section 8.02.	 	With Consent of Holders of Notes	 	56
	 	Section 8.03.	 	Execution of Supplemental Indentures	 	57
	 	Section 8.04.	 	Effect of Supplemental Indentures	 	57
	 	Section 8.05.	 	Compliance with Trust Indenture Act	 	57
	 	Section 8.06.	 	Revocation and Effect of Consents	 	57
	 	Section 8.07.	 	Notation on or Exchange of Notes	 	57
	 	Section 8.08.	 	Trustee to Sign Amendments, etc.	 	58
	
 ARTICLE 9.    SATISFACTION AND DISCHARGE	
 	

58
	 	Section 9.01.	 	Satisfaction and Discharge	 	58
	 	Section 9.02.	 	Deposited Cash and U.S. Government Securities to be Held in Trust; Other Miscellaneous Provisions	 	59
	 	Section 9.03.	 	Repayment to Company	 	59
	
 ARTICLE 10.    SUBORDINATION	
 	

59
	 	Section 10.01.	 	Agreement to Subordinate	 	59
	 	Section 10.02.	 	Liquidation, Dissolution, Bankruptcy	 	60
	 	Section 10.03.	 	Default on Senior Debt	 	60
	 	Section 10.04.	 	Acceleration of Payment of Securities	 	61
	 	Section 10.05.	 	When Distribution Must Be Paid Over	 	61
	 	Section 10.06.	 	Subrogation	 	61
	 	Section 10.07.	 	Relative Rights	 	61
	 	Section 10.08.	 	Subordination May Not Be Impaired by Company	 	61
	 	Section 10.09.	 	Rights of Trustee and Paying Agent	 	62
	 	Section 10.10.	 	Distribution or Notice to Representative	 	62
	 	Section 10.11.	 	Article 10 Not to Prevent Events of Default or Limit Right to Accelerate	 	62
	 	Section 10.12.	 	Trust Moneys Not Subordinated	 	62
	 	Section 10.13.	 	Trustee Entitled to Rely	 	62
	 	Section 10.14.	 	Trustee to Effectuate Subordination	 	63
	 	Section 10.15.	 	Trustee Not Fiduciary for Holders of Senior Debt	 	63

iii

 

	 
	 	 
	 	Page

	 	Section 10.16.	 	Reliance by Holders of Senior Debt on Subordination Provisions	 	63
	 	Section 10.17.	 	Notice to Trustee	 	63
	
 ARTICLE 11.    MISCELLANEOUS	
 	

63
	 	Section 11.01.	 	Notices.	 	64
	 	Section 11.02.	 	Certificate and Opinion as to Conditions Precedent	 	64
	 	Section 11.03.	 	No Personal Liability of Directors, Officers, Employees and Stockholders	 	64
	 	Section 11.04.	 	Governing Law	 	64
	 	Section 11.05.	 	No Adverse Interpretation of Other Agreements	 	65
	 	Section 11.06.	 	Successors	 	65
	 	Section 11.07.	 	Severability	 	65
	 	Section 11.08.	 	Consent to Jurisdiction and Service of Process	 	65
	 	Section 11.09.	 	Counterpart Originals	 	65
	 	Section 11.10.	 	Table of Contents, Headings, etc.	 	65

iv

 
 

CROSS-REFERENCE TABLE    
    

	TIA Section Reference
 
	 	Indenture Section

	310(a)(1)	 	7.10
	(a)(2)	 	7.10
	(a)(3)	 	N.A.
	(a)(4)	 	N.A.
	(a)(5)	 	7.10
	(b)	 	7.08, 7.10
	(c)	 	N.A.
	311(a)	 	7.11
	(b)	 	7.11
	(c)	 	N.A.
	312(a)	 	2.05
	(b)	 	10.03
	(c)	 	10.03
	313(a)	 	7.06
	(b)(1)	 	N.A.
	(b)(2)	 	7.06, 7.07
	(c)	 	7.06, 10.02
	(d)	 	7.06
	314(a)	 	4.03, 4.04, 10.02
	(b)	 	N.A.
	(c)(1)	 	10.04
	(c)(2)	 	10.04
	(c)(3)	 	N.A.
	(d)	 	N.A.
	(e)	 	10.05
	315(a)	 	7.01
	(b)	 	7.05, 10.02
	(c)	 	7.01
	(d)	 	7.01
	(e)	 	6.11
	316(a) (last sentence)	 	2.09
	(a)(1)(A)	 	6.05
	(a)(1)(B)	 	6.04
	(a)(2)	 	N.A.
	(b)	 	6.07
	317(a)(1)	 	6.08
	(a)(2)	 	6.09
	(b)	 	2.04
	318(a)	 	10.01

        N.A.
means Not Applicable. 

        Note:
This Cross-Reference Table shall not, for any purpose, be deemed to be part of this Indenture. 

QuickLinks

ARTICLE 1. DEFINITIONS AND INCORPORATION BY REFERENCE

ARTICLE 2. THE NOTES

ARTICLE 3. REDEMPTION AND PREPAYMENT

ARTICLE 4. COVENANTS

ARTICLE 5. SUCCESSORS

ARTICLE 6. DEFAULTS AND REMEDIES

ARTICLE 7. LEGAL DEFEASANCE AND COVENANT DEFEASANCE

ARTICLE 8. AMENDMENT, SUPPLEMENT AND WAIVER

ARTICLE 9. SATISFACTION AND DISCHARGE

ARTICLE 10. SUBORDINATION

ARTICLE 11. MISCELLANEOUS

[SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE]

TABLE OF CONTENTS

CROSS-REFERENCE TABLE

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