Document:

Exhibit 10.7

 

SEMILEDS PHOTONICS

 

EMPLOYEE AGREEMENT

 

This
Employee Agreement (the “Agreement”) is entered into by and between Lanfang (Lydia) Chin (“Employee”) and
Semi-Photonics
Co., Ltd., a company organized under the laws of Republic of China (the
“Company”), dated effective as of November 17, 2008.

 

1.                       Duties; Title.  Employee’s job title and duties may change
from time to time on reasonable notice, based on the needs of the Company and
Employee’s skills, as determined by the Company.  Employee is required to devote Employee’s
full energies, efforts and abilities to the employment, unless the Company
expressly agrees otherwise.

 

2.                       Hours of Work.  Employee is expected to work the number of
hours required to get the job done. 
However, Employee is generally expected to be present during normal
working hours of the Company.

 

3.                       Adjustments and Changes in Employment Status.  Employee hereby acknowledges
that the Company reserves the right to make personnel decisions regarding
Employee’s employment, including but not limited to decisions regarding any
promotion, salary adjustment, transfer or disciplinary action, up to and
including termination, consistent with the needs of the business.

 

4.                       Proprietary Information Agreement.  If Employee has not already done so, Employee
will be required to sign and abide by the terms of the enclosed proprietary
information and inventions agreement, as attached hereto as Exhibit A
(the “Proprietary Information and Inventions Agreement”)

 

5.                       Conflict of Interest.  Employee is not permitted to engage in any
outside business activity, including consulting services, or outside employment
that competes with, or may have the appearance of competing with the interest
of the Company, including but not limited to being  employed by, investing in, or providing
times, materials or other services to any entity that buys from, sells or
provide services to, or competes with the Company, or engaging in any
non-Company activity that utilizes any of the Company’s equipment, physical
plant, or confidential information.

 

6.                       Representation and Warranty of Employee.  Employee represents and warrants to the
Company that the performance of Employee’s duties will not violate any
confidentiality or employment agreements with or trade secrets of Employee’s
prior employers or any entity.

 

1

 

7.                       Employee Benefits.  Employee will be eligible for paid time-off,
vacation and holidays and other benefits in accordance with the Company policy.

 

8.                       Entire Agreement.  This Agreement,
and the Proprietary Information and Inventions
Agreement  entered
between Employee and the Company constitute the entire and exclusive contract
between the parties with respect to the subject matters herein, and supersede
all prior agreements, representations or promises of any kind, whether written,
oral, express or implied between the parties hereto with respect to the subject
matters herein.  This Agreement cannot be
changed unless in writing, signed by Employee and an authorized officer of the
Company.

 

9.                       Severability.  If any term of this Agreement is held to be
invalid, void or unenforceable, the remainder of this Agreement shall remain in
full force and effect and shall in no way be affected; and, the parties shall
use their best efforts to find an alternative way to achieve the same result.

 

10.                 Governing Law; Interpretation.  This Agreement shall be governed by the law
of Republic of China.  This Agreement is
made both in English and Chinese.  The
English version shall control in all interpretation, proceedings and
deliberation in the event of discrepancy between the English and Chinese
versions.

 

11.                 Jurisdiction; Arbitration.  All disputes, controversies or differences
arising between the parties under or relating to this Agreement that cannot be
settled amicably shall be subject to binding reconciliation or arbitration
administered by Hsinchu Science Park Bureau labor agency.  In the event that the Hsinchu Science Park
Bureau agency is not in the position to come to a final resolution, the matters
shall be subject to the judgment of the Hsinchu District Court as the court of
first instance.  The language used in all
proceedings shall be in English.  The parties shall split all expenses and
costs, excluding attorneys’ fees, associated with arbitration proceedings.

 

IN WITNESS WHEREOF, the parties have executed this Agreement effective
as of the date first above written.

 

	
  SEMI-PHOTONICS CO., LTD.

  	
   

  	
   

  
	
   

  	
   

  	
  [print name] Lanfang (Lydia) Chin

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Chris
  Wang

  	
   

  	
  [signature]

  	
  /s/ Lanfang
  (Lydia) Chin

  
	
   

  	
   

  	
   

  	
   

  
	
  Name:
  Chris Wang

  	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
  Tel:

  	
   

  
	
   

  	
   

  	
  ID:

  	
   

  
					

 

2Exhibit 4.5

 

AFFILIATED MANAGERS GROUP, INC.,

 

as Issuer,

 

and

 

                                                                  ,

 

as Trustee

 

INDENTURE

 

Dated as of
            ,

 

 

CROSS-REFERENCE TABLE

 

	
  TIA Section

  	
   

  	
  Indenture Section

  
	
   

  	
   

  	
   

  
	
  310

  	
  (a)(1)

  	
  8.9

  
	
   

  	
  (a)(2)

  	
  8.9

  
	
   

  	
  (a)(3)

  	
  N/A

  
	
   

  	
  (a)(4)

  	
  N/A

  
	
   

  	
  (a)(5)

  	
  8.9

  
	
   

  	
  (b)

  	
  8.8; 8.9

  
	
   

  	
  (c)

  	
  N/A

  
	
  311

  	
  (a)

  	
  8.13

  
	
   

  	
  (b)

  	
  8.13

  
	
   

  	
  (c)

  	
  N/A

  
	
  312

  	
  (a)

  	
  9.1

  
	
   

  	
  (b)

  	
  9.2

  
	
   

  	
  (c)

  	
  9.2

  
	
  313

  	
  (a)

  	
  9.3

  
	
   

  	
  (b)(1)

  	
  9.3

  
	
   

  	
  (b)(2)

  	
  9.3

  
	
   

  	
  (c)

  	
  9.3

  
	
   

  	
  (d)

  	
  9.3

  
	
  314

  	
  (a)

  	
  9.4

  
	
   

  	
  (b)

  	
  N/A

  
	
   

  	
  (c)(1)

  	
  1.2

  
	
   

  	
  (c)(2)

  	
  1.2

  
	
   

  	
  (c)(3)

  	
  N/A

  
	
   

  	
  (d)

  	
  N/A

  
	
   

  	
  (e)

  	
  1.2

  
	
   

  	
  (f)

  	
  1.2

  
	
  315

  	
  (a)

  	
  8.1

  
	
   

  	
  (b)

  	
  8.2

  
	
   

  	
  (c)

  	
  8.1

  
	
   

  	
  (d)

  	
  8.1;8.3

  
	
   

  	
  (e)

  	
  7.14

  
	
  316

  	
  (a) (last
  sentence)

  	
  1.1(“Outstanding”)

  
	
   

  	
  (a)(1)(A)

  	
  7.12

  
	
   

  	
  (a)(1)(B)

  	
  7.13

  
	
   

  	
  (a)(2)

  	
  N/A

  
	
   

  	
  (b)

  	
  7.8

  
	
   

  	
  (c)

  	
  10.2

  
	
   

  	
  317(a)(1)

  	
  7.3

  
				

 

i

 

	
   

  	
  (a)(2)

  	
  7.4

  
	
   

  	
  (b)

  	
  5.3

  
	
  318

  	
  (a)

  	
  1.7

  

 

 

N/A
means Not Applicable

 

Note:  This Cross-Reference Table shall not, for any
purpose, be deemed to be part of this Indenture.

 

ii

 

TABLE OF CONTENTS

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  ARTICLE I DEFINITIONS AND
  OTHER PROVISIONS OF GENERAL APPLICATION

  	
  1

  
	
  Section 1.1.

  	
  Definitions

  	
  1

  
	
  Section 1.2.

  	
  Compliance Certificates and Opinions

  	
  7

  
	
  Section 1.3.

  	
  Form of Documents Delivered to Trustee

  	
  7

  
	
  Section 1.4.

  	
  Acts of Holders

  	
  8

  
	
  Section 1.5.

  	
  Notices, Etc., to Trustee or Company

  	
  9

  
	
  Section 1.6.

  	
  Notice to Holders; Waiver

  	
  9

  
	
  Section 1.7.

  	
  Conflict with Trust Indenture Act

  	
  9

  
	
  Section 1.8.

  	
  Effect of Headings and Table of Contents

  	
  10

  
	
  Section 1.9.

  	
  Successors and Assigns

  	
  10

  
	
  Section 1.10.

  	
  Separability Clause

  	
  10

  
	
  Section 1.11.

  	
  Benefits of Indenture

  	
  10

  
	
  Section 1.12.

  	
  Governing Law

  	
  10

  
	
  Section 1.13.

  	
  Legal Holidays

  	
  10

  
	
  Section 1.14.

  	
  Waiver of Jury Trial

  	
  10

  
	
   

  	
   

  	
   

  
	
  ARTICLE II
  THE SECURITIES

  	
  11

  
	
  Section 2.1.

  	
  Amount Unlimited; Issuable in Series

  	
  11

  
	
  Section 2.2.

  	
  Denominations

  	
  13

  
	
  Section 2.3.

  	
  Execution, Authentication, Delivery and Dating

  	
  13

  
	
  Section 2.4.

  	
  Temporary Securities

  	
  15

  
	
  Section 2.5.

  	
  Registration; Registration of Transfer and Exchange

  	
  16

  
	
  Section 2.6.

  	
  Mutilated, Destroyed, Lost and Stolen Securities

  	
  17

  
	
  Section 2.7.

  	
  Payment of Interest; Interest Rights Preserved

  	
  18

  
	
  Section 2.8.

  	
  Persons Deemed Owners

  	
  19

  
	
  Section 2.9.

  	
  Cancellation

  	
  19

  
	
  Section 2.10.

  	
  Computation of Interest

  	
  20

  
	
  Section 2.11.

  	
  CUSIP Numbers

  	
  20

  
	
   

  	
   

  	
   

  
	
  ARTICLE III
  REDEMPTION OF SECURITIES

  	
  20

  
	
  Section 3.1.

  	
  Applicability of Article

  	
  20

  
	
  Section 3.2.

  	
  Election to Redeem; Notice to Trustee

  	
  20

  
	
  Section 3.3.

  	
  Selection by Trustee of Securities to Be Redeemed

  	
  21

  
	
  Section 3.4.

  	
  Notice of Redemption

  	
  21

  
	
  Section 3.5.

  	
  Deposit of Redemption Price

  	
  22

  
	
  Section 3.6.

  	
  Securities Payable on Redemption Date

  	
  22

  
	
  Section 3.7.

  	
  Securities Redeemed in Part

  	
  22

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV
  SINKING FUNDS

  	
  23

  
	
  Section 4.1.

  	
  Applicability of Article

  	
  23

  

 

iii

 

	
  Section 4.2.

  	
  Satisfaction of Sinking Fund Payments with Securities

  	
  23

  
	
  Section 4.3.

  	
  Redemption of Securities for Sinking Fund

  	
  23

  
	
   

  	
   

  	
   

  
	
  ARTICLE V
  COVENANTS

  	
  24

  
	
  Section 5.1.

  	
  Payment of Principal, Premium and Interest

  	
  24

  
	
  Section 5.2.

  	
  Maintenance of Office or Agency

  	
  24

  
	
  Section 5.3.

  	
  Money for Securities Payments to Be Held in Trust

  	
  24

  
	
  Section 5.4.

  	
  Corporate Existence

  	
  26

  
	
  Section 5.5.

  	
  Statement by Officers as to Default

  	
  26

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI
  CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

  	
  26

  
	
  Section 6.1.

  	
  Company May Consolidate, Etc., Only on Certain
  Terms

  	
  26

  
	
  Section 6.2.

  	
  Successor Substituted

  	
  27

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII
  REMEDIES

  	
  27

  
	
  Section 7.1.

  	
  Events of Default

  	
  27

  
	
  Section 7.2.

  	
  Acceleration of Maturity; Rescission and Annulment

  	
  29

  
	
  Section 7.3.

  	
  Collection of Indebtedness and Suits for Enforcement by
  Trustee

  	
  31

  
	
  Section 7.4.

  	
  Trustee May File Proofs of Claim

  	
  31

  
	
  Section 7.5.

  	
  Trustee May Enforce Claims Without Possession of
  Securities

  	
  32

  
	
  Section 7.6.

  	
  Application of Money Collected

  	
  32

  
	
  Section 7.7.

  	
  Limitation on Suits

  	
  33

  
	
  Section 7.8.

  	
  Unconditional Right of Holders to Receive Principal,
  Premium and Interest

  	
  33

  
	
  Section 7.9.

  	
  Restoration of Rights and Remedies

  	
  34

  
	
  Section 7.10.

  	
  Rights and Remedies Cumulative

  	
  34

  
	
  Section 7.11.

  	
  Delay or Omission Not Waiver

  	
  34

  
	
  Section 7.12.

  	
  Control by Holders

  	
  34

  
	
  Section 7.13.

  	
  Waiver of Past Defaults

  	
  35

  
	
  Section 7.14.

  	
  Undertaking for Costs

  	
  35

  
	
  Section 7.15.

  	
  Waiver of Usury, Stay or Extension Laws

  	
  36

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII
  THE TRUSTEE

  	
  36

  
	
  Section 8.1.

  	
  Certain Duties and Responsibilities

  	
  36

  
	
  Section 8.2.

  	
  Notice of Defaults

  	
  37

  
	
  Section 8.3.

  	
  Certain Rights of Trustee

  	
  37

  
	
  Section 8.4.

  	
  Not Responsible for Recitals or Issuance of Securities

  	
  39

  
	
  Section 8.5.

  	
  May Hold Securities

  	
  39

  
	
  Section 8.6.

  	
  Money Held in Trust

  	
  39

  
	
  Section 8.7.

  	
  Compensation and Reimbursement

  	
  39

  
	
  Section 8.8.

  	
  Disqualification; Conflicting Interests

  	
  40

  
	
  Section 8.9.

  	
  Corporate Trustee Required; Eligibility

  	
  40

  
	
  Section 8.10.

  	
  Resignation and Removal; Appointment of Successor

  	
  40

  
	
  Section 8.11.

  	
  Acceptance of Appointment by Successor

  	
  42

  

 

iv

 

	
  Section 8.12.

  	
  Merger, Conversion, Consolidation or Succession to Business

  	
  43

  
	
  Section 8.13.

  	
  Preferential Collection of Claims

  	
  43

  
	
  Section 8.14.

  	
  Appointment of Authenticating Agent

  	
  43

  
	
  Section 8.15.

  	
  Consequential Damages

  	
  45

  
	
  Section 8.16.

  	
  Notices

  	
  45

  
	
  Section 8.17.

  	
  Force Majeure

  	
  45

  
	
   

  	
   

  	
   

  
	
  ARTICLE IX
  HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

  	
  45

  
	
  Section 9.1.

  	
  Company to Furnish Trustee Names and Addresses of Holders

  	
  45

  
	
  Section 9.2.

  	
  Preservation of Information; Communications to Holders

  	
  46

  
	
  Section 9.3.

  	
  Reports by Trustee

  	
  46

  
	
  Section 9.4.

  	
  Reports by Company

  	
  46

  
	
   

  	
   

  	
   

  
	
  ARTICLE X
  SUPPLEMENTAL INDENTURES

  	
  47

  
	
  Section 10.1.

  	
  Supplemental Indentures Without Consent of Holders

  	
  47

  
	
  Section 10.2.

  	
  Supplemental Indentures with Consent of Holders

  	
  49

  
	
  Section 10.3.

  	
  Execution of Supplemental Indentures

  	
  50

  
	
  Section 10.4.

  	
  Effect of Supplemental Indentures

  	
  50

  
	
  Section 10.5.

  	
  Conformity with Trust Indenture Act

  	
  50

  
	
  Section 10.6.

  	
  Reference in Securities to Supplemental Indentures

  	
  50

  
	
   

  	
   

  	
   

  
	
  ARTICLE XI
  SATISFACTION AND DISCHARGE; DEFEASANCE

  	
  51

  
	
  Section 11.1.

  	
  Satisfaction and Discharge of Indenture

  	
  51

  
	
  Section 11.2.

  	
  Company’s Option to Effect Defeasance or Covenant
  Defeasance

  	
  52

  
	
  Section 11.3.

  	
  Defeasance and Discharge

  	
  52

  
	
  Section 11.4.

  	
  Covenant Defeasance

  	
  53

  
	
  Section 11.5.

  	
  Conditions to Defeasance or Covenant Defeasance

  	
  53

  
	
  Section 11.6.

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

  	
  55

  

 

v

 

INDENTURE,
dated as of                      ,
      , between Affiliated Managers Group, Inc.,
a Delaware corporation (herein called the “Company”), having its
principal executive offices at 600 Hale Street, Prides Crossing, Massachusetts,
01965, and                    
                       ,
a                  
                      
organized under the laws of                                                             ,
as Trustee (herein called the “Trustee”).

 

RECITALS OF THE COMPANY

 

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

 

NOW,
THEREFORE, for and in consideration of the premises and the purchase of the
Securities by the Holders thereof, the Company and the Trustee mutually
covenant and agree, for the equal and proportionate benefit of all Holders of
the Securities or of any series thereof, as follows:

 

ARTICLE I

 

DEFINITIONS AND OTHER
PROVISIONS

OF GENERAL APPLICATION

 

Section 1.1.            Definitions.

 

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

 

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

 

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

 

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

 

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

 

1

 

(5)           references to Sections are
to Sections of this Indenture unless otherwise expressly indicated.

 

“Act”,
when used with respect to any Holder, has the meaning specified in Section 1.4(a).

 

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

 

“Authenticating
Agent” means any Person authorized by the Trustee to act on behalf of the
Trustee to authenticate Securities.

 

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

 

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

 

“Business
Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is
not a day on which banking institutions in New York, New York, Boston,
Massachusetts or the city in which the Corporate Trust Office is located are
required or authorized to close.

 

“Capital
Stock” for any corporation means any and all shares, interests, rights to
purchase, warrants, options, participations or other equivalents of or
interests in (however designated) stock issued by that corporation.

 

“Commission”
means the 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
instrument such Commission is not existing and performing the duties now
assigned to it under the Trust Indenture Act, then the body performing such
duties at such time.

 

“Company”
means the Person named as the “Company” in the first paragraph of this
instrument until a successor Person shall have become permitted as the Company’s
successor 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 Officers.

 

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

 

2

 

The
term “corporation” includes corporations, associations, companies (including
limited liability companies), limited and general partnerships and business
trusts.

 

The
terms “covenant defeasance” and “defeasance” bear the meanings
assigned to such terms, respectively, by Sections 11.4 and 11.3.

 

The
term “default”, when used in Section 8.2, has the
meaning specified in Section 8.2.

 

“Defaulted
Interest” has the meaning specified in Section 2.7(b).

 

“Depository”
means, with respect to the Securities of any series issuable or issued in whole
or in part in the form of one or more Global Securities, the Person designated
as Depository for such series by the Company pursuant to Section 2.1(b)(15),
which Person shall be a clearing agency registered under the Exchange Act; and
if at any time there is more than one such Person, “Depository” as used with
respect to the Securities of any series shall mean the Depository with respect
to the Securities of such series.

 

“Event
of Default” has the meaning specified in Section 7.1.

 

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

 

“Global
Security” or “Global Securities” means a Security or Securities, as
the case may be, evidencing all or part of a series of Securities, issued to
the Depository for such series or its nominee, and registered in the name of
such Depository or nominee.

 

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

 

“Indebtedness”
of any Person means indebtedness for borrowed money and indebtedness under
purchase money mortgages or other purchase money liens or conditional sales or
similar title retention agreements, in each case where such indebtedness has
been created, incurred, or assumed by such Person to the extent such
indebtedness would appear as a liability upon a balance sheet of such Person
prepared in accordance with generally accepted accounting principles,
guarantees by such Person of such indebtedness of others, and indebtedness for
borrowed money secured by any mortgage, pledge or other lien or encumbrance
upon property owned by such Person, even though such Person has not assumed or
become liable for the payment of such indebtedness.

 

“Indenture”
means this indenture agreement 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 established as contemplated by Section 2.1.

 

“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.

 

3

 

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

 

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

 

“Notice
of Default” has the meaning specified in Section 7.1.

 

“Officer”
shall mean any of the Chairman of the Board of Directors, the Chief Executive
Officer, a President, a Vice President, the Chief Financial Officer, the
Comptroller or a Secretary of the Corporation.

 

“Officers’
Certificate” means a certificate signed by any two Officers.  An Officers’ Certificate provided pursuant to
Section 5.5 shall be signed by the principal executive,
financial or accounting Officer of the Company.

 

“Opinion
of Counsel” means a written opinion of counsel, who may be counsel for the
Company (including an employee or officer of the Company or any of its
Affiliates) and who shall be reasonably acceptable to the Trustee.

 

“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 7.2.

 

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

 

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

 

(ii)           Securities for whose payment
or redemption money (or in the case of payment by defeasance under Section 11.3,
money, U.S. Government Obligations or both) in the necessary amount has been
theretofore deposited with the Trustee or any Paying Agent (other than the
Company) in trust, or set aside and segregated in trust by the Company (if the
Company shall act as its own Paying Agent), for the Holders of such Securities;
provided that, if such Securities are to be redeemed, notice of such redemption
has been duly given pursuant to this Indenture or provision therefor
satisfactory to the Trustee has been made and provided  further,
in the case of payment by defeasance under Section 11.3,
that all conditions precedent to the application of such Section shall
have been satisfied; and

 

(iii)          Securities which have been
paid pursuant to Section 2.6(c) 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 

 

4

 

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, (i) the principal amount
of an Original Issue Discount Security that shall be deemed to be Outstanding
shall be the amount of the principal thereof that would be due and payable as
of the date of such determination upon acceleration of the Maturity thereof
pursuant to Section 7.2 and (ii) Securities owned by
the Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be protected
in relying upon any such request, demand, authorization, direction, notice,
consent or waiver, only Securities which the Trustee knows to be so owned shall
be so disregarded.  Securities 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 independent right
so to act with respect to such Securities and that the pledgee is not the
Company or any other obligor upon the Securities or any Affiliate of the Company
or of such other obligor.

 

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

 

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

 

“Place
of Payment”, when used with respect to the Securities of any series, means
the place or places where the principal of (and premium, if any) and interest
on the Securities of that series are payable as specified as contemplated by Section 2.1
or, if not so specified, New York, New York.

 

“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 2.6 in exchange
for or in lieu of a mutilated, destroyed, lost or stolen Security shall be
deemed to evidence the same debt as the mutilated, destroyed, lost or stolen
Security.

 

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

 

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

 

“Regular
Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as
contemplated by Section 2.1.

 

“Responsible
Officer”, when used with respect to the Trustee, means any officer in the
Corporate Trust Office of the Trustee with direct responsibility for the
administration of this 

 

5

 

Indenture
and also means, with respect to a particular corporate trust matter, any other
officer to whom such matter is referred because of such other officer’s
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 of any series authenticated and delivered
under this Indenture.

 

“Security
Register” and “Security Registrar” have the respective meanings
specified in Section 2.5(a).

 

“Special
Record Date” for the payment of any Defaulted Interest means a date fixed
by the Trustee pursuant to Section 2.7(b).

 

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

 

“Subsidiary”
means (i) a corporation, a majority of whose Capital Stock with voting
power, under ordinary circumstances, to elect directors is, at the date of
determination, directly or indirectly owned by the Company, by one or more
Subsidiaries of the Company or by the Company and one or more Subsidiaries of
the Company, (ii) a partnership in which the Company or a Subsidiary of
the Company holds a majority interest in the equity capital or profits of such
partnership, or (iii) any other Person (other than a corporation or
partnership) in which the Company, a Subsidiary of the Company or the Company
and one or more Subsidiaries of the Company, directly or indirectly, at the
date of determination, has (x) at least a majority ownership interest or (y) the
power to elect or direct the election of a majority of the directors or other
governing body of such Person.

 

“Trust
Indenture Act” means the Trust Indenture Act of 1939 as in force at the
date as of which this Indenture was executed, except as provided in Section 10.5
and, to the extent required by any amendment thereto, the Trust Indenture Act
of 1939, as amended from time to time.

 

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

 

“U.S.
Government Obligation” has the meaning set forth in Section 11.5(a).

 

“Vice
President” means any vice president, whether or not designated by a number
or a word or words added before or after the title “vice president”.

 

6

 

Section 1.2.            Compliance Certificates and Opinions.

 

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

 

(b)           Every certificate or opinion with respect to
compliance with a condition or covenant provided for in this Indenture (other
than certificates provided pursuant to Section 5.5) 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;

 

(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, such individual has made such examination or
investigation as is necessary to enable such individual 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 condition or covenant has been
complied with.

 

Section 1.3.            Form of Documents
Delivered to Trustee.

 

(a)           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 more documents.

 

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

 

7

 

should know, that the certificate or opinion or
representations with respect to such matters are erroneous.

 

(c)           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 1.4.            Acts of Holders.

 

(a)           Any request, demand, authorization, direction,
notice, consent, waiver or other action provided by this Indenture to be given
or taken by Holders may be embodied in and evidenced by one or more instruments
of substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing.  Except as
herein otherwise expressly provided, such action shall become effective when
such instrument or instruments are delivered to the Trustee and, where it is
hereby expressly required, to the Company. 
Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of the
Holders signing such instrument or instruments. 
Proof of execution of any such instrument or of a writing appointing any
such agent shall be sufficient for any purpose of this Indenture and (subject
to Section 8.1) conclusive in favor of the Trustee and the
Company, if made in the manner provided in this Section.

 

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

 

(c)           The ownership of Securities shall be proved by the
Security Register.

 

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

 

(e)           The Depository selected pursuant to subsection
(b)(15) of Section 2.1, as a Holder, may appoint agents
and otherwise authorize participants to give or take any request, demand,
authorization, direction, notice, consent, waiver or other action which a
Holder is entitled to give or take hereunder.

 

(f)            [Reserved.]

 

8

 

Section 1.5.            Notices, Etc., to Trustee or
Company.

 

Any
request, demand, authorization, direction, notice, consent, waiver or Act of
Holders or other document provided or permitted by this Indenture to be made,
given or furnished to, or filed with,

 

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

 

(2)           the Company by the Trustee
or by any Holder shall be sufficient for every purpose hereunder (unless
otherwise herein expressly provided) if in writing and mailed, first-class
postage prepaid, to the Company addressed to it at the address of its office
specified in the first paragraph of this instrument or at any other address
previously furnished in writing to the Trustee by the Company.

 

Section 1.6.            Notice to Holders; Waiver.

 

(a)           Where this Indenture provides for notice to Holders
of any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to
each Holder affected by such event, at such Holder’s address as it appears in
the Security Register, not later than the latest date, and not earlier than the
earliest date, prescribed for the giving of such notice.  In any case where notice to Holders is given
by mail, neither the failure to mail such notice, nor any defect in any notice
so mailed, to any particular Holder shall affect the sufficiency of such notice
with respect to other Holders.  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.

 

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

 

Section 1.7.            Conflict with Trust Indenture Act.

 

If
any provision hereof limits, qualifies or conflicts with another provision
hereof which is required to be included in this Indenture by any of the
provisions of the Trust Indenture Act, such required provision shall
control.  If any provision hereof limits,
qualifies or conflicts with the duties imposed by section 318(c) of the
Trust Indenture Act, such imposed duties shall control.  If any provision of the Indenture limits,
qualifies or conflicts with a provision of the Trust Indenture Act that is
required under the Trust Indenture Act to be a part of and govern the
Indenture, such provision of the Trust Indenture Act shall control.  If any provision of the Indenture modifies or
excludes any provision of the Trust Indenture Act that may be so modified 

 

9

 

or
excluded, the latter provision shall be deemed to apply to the Indenture as
such provision of the Trust Indenture Act is so modified or excluded, as the
case may be.

 

Section 1.8.            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 1.9.            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 1.10.          Separability Clause.

 

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

 

Section 1.11.          Benefits of Indenture.

 

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

 

Section 1.12.          Governing Law.

 

This
Indenture and the Securities shall be governed by and construed in accordance
with the laws of the State of New York, without giving effect to any choice of
law or conflict of law provision or rule that would cause the application
of the laws of any other jurisdiction.

 

Section 1.13.          Legal Holidays.

 

In
any case where any Interest Payment Date, Redemption Date or Stated 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 the Securities)
payment of interest or principal (and premium, if any) need not be made at such
Place of Payment on such date, but may be made on the next succeeding Business
Day at such Place of Payment with the same force and effect as if made on the
Interest Payment Date or Redemption Date, or at the Stated Maturity, provided
that no interest shall accrue on the amount then payable for the period from
and after such Interest Payment Date, Redemption Date or Stated Maturity, as
the case may be.

 

Section 1.14.          Waiver of Jury Trial.

 

EACH
OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR 

 

10

 

RELATING
TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY.

 

ARTICLE II

 

THE SECURITIES

 

Section 2.1.            Amount Unlimited; Issuable in Series.

 

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

 

(b)           The Securities may be issued in one or more
series.  There shall be established in or
pursuant to a Board Resolution, and (subject to Section 2.3)
set forth or determined as provided in an Officers’ Certificate, or established
in one or more indentures supplemental hereto (with such appropriate
insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture, and with such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as may be
required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the Officers executing such Securities,
as evidenced by their execution of such Securities), prior to the issuance of
Securities of any series:

 

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

 

(2)           any limit upon the aggregate
principal amount of the Securities of the series which may be authenticated and
delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Securities of the series pursuant to Section 2.4, 2.5,
2.6, 3.7 or 10.6 and except for any Securities which,
pursuant to Section 2.3, are deemed never to have been
authenticated and delivered hereunder);

 

(3)           the Person to whom any
interest on a 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;

 

(4)           the date or dates on which
the principal of the Securities of the series is payable and/or the method by
which such date or dates shall be determined;

 

(5)           the rate or rates (or method
for establishing the rate or rates) at which the Securities of the series shall
bear interest, if any, the date or dates from which such interest shall accrue,
the Interest Payment Dates on which such interest shall be payable and the
Regular Record Date for the interest payable on any Interest Payment Date (or
method for establishing such date or dates);

 

11

 

(6)           the place or places where
the principal of (and premium, if any) and interest on Securities of the series
shall be payable;

 

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

 

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

 

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

 

(10)         if other than the full
principal amount thereof, the portion of the principal amount of Securities of
the series which shall be payable upon declaration of acceleration of the
Maturity thereof pursuant to Section 7.2 or the method by which
such portion shall be determined;

 

(11)         if other than such currency
of the United States of America as at the time of payment is legal tender for
payment of public or private debts, the currency or currencies (including
composite currencies) in which payment of the principal of (and premium, if
any) and/or interest on the Securities of the series shall be payable;

 

(12)         if the principal of (and
premium, if any) and/or interest on the Securities of the series are to be
payable, at the election of the Company or any Holder, in a currency or
currencies (including composite currencies) other than that in which the
Securities are stated to be payable, the period or periods within which, and
the terms and conditions, upon which, such election may be made;

 

(13)         if the amounts of payments
of principal of (and premium, if any) and/or interest on the Securities of the
series may be determined with reference to an index, the manner in which such
amounts shall be determined;

 

(14)         in the case of Securities of
a series the terms of which are not established pursuant to subsection (11),
(12) or (13) above, whether either or both of Section 11.3
or Section 11.4 shall not be applicable to the Securities of such
series; or, in the case of Securities the terms of which are established
pursuant to subsection (11), (12) or (13) above, the
adoption and applicability, if any, to such Securities of any terms and
conditions similar to those contained in Section 11.3 and/or Section 11.4;

 

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

 

12

 

(16)         any additional or different
events of default that apply to Securities of the series, and any change in the
right of the Trustee or the Holders of such Securities to declare the principal
thereof due and payable;

 

(17)         any additional or different
covenants that apply to Securities of the series;

 

(18)         the form of the Securities
of the series; and

 

(19)         any other terms of the
series (which terms shall not contradict the provisions of this Indenture).

 

(c)           The definitive Securities shall be printed,
lithographed or engraved on steel engraved borders or may be produced in any
other manner, all as determined by the Officers executing such Securities, as
evidenced by their execution of such Securities.

 

(d)           All Securities of any one series shall be
substantially identical except as to interest rates, method for determining
interest rates, Interest Payment Dates, Regular Record Dates, redemption
terms, Stated Maturity, denomination, date of authentication, currency, any
index for determining amounts payable, and except as may otherwise be provided
in or pursuant to such Board Resolution and set forth or determined as provided
in such Officers’ Certificate or in any indenture supplemental hereto.

 

(e)           If any of the terms of the series are established by
action taken pursuant to a Board Resolution, a copy of an appropriate record of
such action shall be certified by the Secretary or an Assistant Secretary of
the Company and delivered to the Trustee at or prior to the delivery of the
Officers’ Certificate setting forth the terms of the series.  With respect to Securities of a series
constituting a medium term note program, such Board Resolution may provide
general terms or parameters for Securities of such series and may provide that
the specific terms of particular Securities of such series, and the Persons
authorized to determine such terms or parameters, may be determined in
accordance with or pursuant to the Company Order referred to in Section 2.3.

 

Section 2.2.            Denominations.

 

The
Securities of each series shall be issuable in registered form without coupons
in such denominations as shall be specified as contemplated by Section 2.1.  In the absence of any such provisions with
respect to the Securities of any series, the Securities of such series shall be
issuable in denominations of $1,000 and any integral multiple thereof.

 

Section 2.3.            Execution,
Authentication, Delivery and Dating.

 

(a)           The Securities shall be executed on behalf of the
Company by any Officer and attested by its Secretary or one of its Assistant
Secretaries.  The signature of any of
these Officers on the Securities may be manual or facsimile.

 

(b)           Securities bearing the manual or facsimile
signatures of individuals who were at any time the proper Officers of the
Company shall bind the Company, notwithstanding that such 

 

13

 

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.

 

(c)           At any time and from time to time after the
execution and delivery of this Indenture, the Company may deliver Securities of
any series executed on behalf of the Company pursuant to clause (a) above
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; provided,
that, with respect to Securities of a series constituting a medium term note
program, the Trustee shall authenticate and deliver Securities of such series
for original issue from time to time in the aggregate principal amount
established for such series pursuant to such procedures acceptable to the
Trustee and to such recipients as may be specified from time to time by a
Company Order.  The maturity dates,
original issue dates, interest rates and any other terms of the Securities of
such series shall be determined by or pursuant to such Company Order and
procedures.

 

(d)           The Trustee’s certificates of authentication shall
be in substantially the following form:

 

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

 

	
   

  	
   

  
	
   

  	
  as
  Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
  Authorized
  Signatory

  
	
   

  	
   

  
	
  Date:   

  	
   

  	
   

  	
   

  
					

 

(e)           If the form or terms of the Securities of the series
have been established in or pursuant to one or more Board Resolutions as
permitted by Section 2.1, in authenticating such Securities, and
accepting the additional responsibilities under this Indenture in relation to
such Securities, the Trustee shall receive, and (subject to Section 8.1)
shall be fully protected in relying upon, an Opinion of Counsel stating,

 

(1)           if the form of any of such
Securities has been established by or pursuant to Board Resolution as permitted
by Section 2.1, that such form has been established in conformity
with the provisions of this Indenture;

 

(2)           if the terms of any of such
Securities have been established by or pursuant to Board Resolution as
permitted by Section 2.1, that such terms have been established in
conformity with the provisions of this Indenture; and

 

(3)           that such Securities, when
authenticated and delivered by the Trustee and issued by the Company in the
manner and subject to any conditions specified in such Opinion of Counsel, will
constitute valid and legally binding obligations of the Company, 

 

14

 

enforceable in accordance with their respective
terms, subject to bankruptcy, insolvency, reorganization and other laws of
general applicability relating to or affecting the enforcement of creditors’
rights and to general equity principles.

 

(f)            Notwithstanding that such form or terms have been so
established, the Trustee shall not be required to authenticate such Securities
if the issue of such Securities pursuant to this Indenture would adversely
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.

 

(g)           [Reserved.]

 

(h)           With respect to Securities of a series constituting
a medium term note program, if the form and general terms of the Securities of
such series have been established by or pursuant to one or more Board
Resolutions or by an indenture supplemental hereto, as permitted by Section 2.1
in authenticating such Securities, and accepting the additional
responsibilities under this Indenture in relation to such Securities, the Trustee
shall receive, and (subject to Section 8.1) shall be fully
protected in relying upon, in addition to the foregoing documents and Opinion
of Counsel, or in lieu of clause (e) above, an Opinion of Counsel
stating that the Securities have been duly authorized by the Company and, when
duly executed by the Company and completed and authenticated by the Trustee in
accordance with the Indenture and issued, delivered and paid for in accordance
with any applicable distribution agreement, will have been duly issued under
the Indenture and will constitute valid and binding obligations of the Company,
enforceable in accordance with their respective terms, subject to bankruptcy,
insolvency, reorganization and other laws of general applicability relating to
or affecting the enforcement of creditors’ rights and to general equity
principles.

 

(i)            Each Security shall be dated the date of its
authentication.

 

(j)            No Security shall be entitled to any benefit under
this Indenture or be valid or obligatory for any purpose unless there appears
on such Security a certificate of authentication substantially in the form
provided for herein executed by the Trustee by manual signature, and such
certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered
hereunder and is entitled to the benefits of this Indenture.  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 2.9 together with a
written statement (which need not comply with Section 1.2 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 2.4.            Temporary Securities.

 

(a)           Pending the preparation of definitive Securities of
any series, the Company may execute, and upon Company Order from the Company,
the Trustee shall authenticate and deliver, 

 

15

 

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, 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.

 

(b)           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 in a Place of Payment for that series, without charge to
the Holder.  Upon surrender for
cancellation of any one or more temporary Securities of any series the Company
shall execute and the Trustee shall authenticate and deliver in exchange
therefor a like principal amount of definitive Securities of the same series
and of like tenor, of authorized denominations. 
Until so exchanged the temporary Securities of any series shall in all
respects be entitled to the same benefits under this Indenture as definitive
Securities of such series.

 

Section 2.5.            Registration; Registration of Transfer and
Exchange.

 

(a)           The Company shall cause to be kept at the Corporate
Trust Office of the Trustee a register (the register maintained in such office
and in any other office or agency of the Company in a Place of Payment being
herein sometimes collectively referred to as the “Security Register”) in
which, subject to such reasonable regulations as it may prescribe, the Company
shall provide for the registration of Securities and of transfers of
Securities.  The Trustee is hereby
appointed “Security Registrar” for the purpose of registering Securities
and transfers of Securities as herein provided.

 

(b)           Upon surrender for registration of transfer of any
Security of any series at an office or agency of the Company in a Place of
Payment designated by the Company pursuant to Section 5.2 for that
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
Securities of the same series, of any authorized denominations and of a like
aggregate principal amount and tenor.

 

(c)           At the option of the Holder, Securities of any
series may be exchanged for other Securities of the same series of any
authorized denominations and of a like aggregate principal amount and tenor,
upon surrender of the Securities to be exchanged at such office or agency.  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.

 

(d)           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.

 

16

 

(e)           Every Security presented or surrendered for
registration of transfer or for exchange shall (if so required by the Company
or the Trustee) 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.

 

(f)            No service charge shall be made for any registration
of transfer or for exchange of Securities, but the Company or the Trustee 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 2.4,
2.5(h), 3.7 or 10.6 not involving any transfer.

 

(g)           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 mailing of a
notice of redemption of Securities of that series selected for redemption under
Section 3.3 and ending at the close of business on the day of such
mailing, or (ii) to register the transfer of or exchange any Security so
selected for redemption in whole or in part, except the unredeemed portion of
any Security being redeemed in part.

 

(h)           Notwithstanding the foregoing, any Global Security
shall be exchangeable pursuant to this Section 2.5 for Securities
registered in the names of Persons other than the Depository for such Security
or its nominee only if (i) such Depository notifies the Company that it is
unwilling or unable to continue as Depository for such Global Security or such
Depository ceases to be a clearing agency registered under the Exchange Act, (ii) the
Company executes and delivers to the Trustee a Company Order that such Global
Security shall be so exchangeable or (iii) there shall have occurred and
be continuing an Event of Default of which the Trustee has been notified with
respect to the Securities.  Any Global
Security that is exchangeable pursuant to the preceding sentence shall be
exchangeable for Securities registered in such names as the Depository shall
direct in writing in an aggregate principal amount equal to the principal
amount of the Global Security with like tenor and terms.

 

(i)            Notwithstanding any other provision in this
Indenture, but subject to exchanges under clause (h) above, a
Global Security may not be transferred except as a whole by the Depository with
respect to such Global Security to a nominee of such Depository or by a nominee
of such Depository to such Depository or another nominee of such Depository.

 

Section 2.6.            Mutilated, Destroyed, Lost and Stolen
Securities.

 

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

 

(b)           If there shall be delivered to the Company and the
Trustee (i) evidence to their satisfaction of the destruction, loss or
theft of any Security and (ii) such security or indemnity as may be
required by them to save each of them and any agent of any of them harmless,
then, in 

 

17

 

the absence of notice to the Company or the Trustee
that such Security has been acquired by a bona fide purchaser, the Company
shall execute and upon its request the Trustee shall authenticate and deliver,
in lieu of any such destroyed, lost or stolen Security, a new Security of the
same series and of like tenor and principal amount, and bearing a number not
contemporaneously outstanding.

 

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

 

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

 

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

 

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

 

Section 2.7.            Payment of Interest; Interest Rights
Preserved.

 

(a)           Unless otherwise provided as contemplated by Section 2.1
with respect to any series of Securities, interest on any Security which is
payable, and is punctually paid or duly provided for, on any Interest Payment
Date shall be paid to the Person in whose name that Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record
Date for such interest.

 

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

 

(1)           The Company may elect to
make payment of any Defaulted Interest to the Persons in whose names the
Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on a Special Record Date (as defined below)
for the payment of such Defaulted Interest, which shall be fixed in the
following manner.  The Company shall
notify the Trustee in writing of the amount of Defaulted Interest proposed to
be paid on each Security of such series and the date of the proposed payment,
and at the same time the Company shall deposit with the Trustee an amount of
money equal to the aggregate amount proposed to be paid in respect of such
Defaulted 

 

18

 

Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this clause provided.  Thereupon the Trustee shall fix a special record
date (the “Special Record Date”) for the payment of such Defaulted
Interest which shall be not more than 15 days and not less than 10 days prior
to the date of the proposed payment and not less than 10 days after the receipt
by the Trustee of the notice of the proposed payment.  The Trustee shall promptly notify the Company
of such Special Record Date and, in the name and at the expense of the Company,
shall cause notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor to be mailed, first-class postage prepaid, to each
Holder of Securities of such series at his address as it appears in the
Security Register, not less than 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
mailed, such Defaulted Interest shall be paid to the Persons in whose names the
Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on such Special Record Date and shall no longer
be payable pursuant to the following clause (2).

 

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

 

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

 

Section 2.8.            Persons Deemed Owners.

 

Prior
to due presentment of a Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee, including a Paying Agent,
may treat the Person in whose name such Security is registered as the owner of
such Security for the purpose of receiving payment of principal of (and
premium, if any) and (subject to Section 2.7) interest on such
Security and for all other purposes whatsoever, whether or not such Security be
overdue, and neither the Company, the Trustee nor any agent of the Company or
the Trustee, including a Paying Agent, shall be affected by notice to the
contrary.

 

Section 2.9.            Cancellation.

 

All
Securities surrendered for payment, redemption, registration of transfer or
exchange or for credit against any sinking fund payment shall, if surrendered
to any Person other than the Trustee, be delivered to the Trustee and shall be
promptly canceled by it.  The Company may
at any time deliver to the Trustee for cancellation any Securities previously
authenticated and 

 

19

 

delivered
hereunder which the Company may have acquired in any manner whatsoever, and may
deliver to the Trustee (or to any other Person for delivery 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.  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 held
by the Trustee shall be disposed of as directed by a Company Order from the
Company.

 

Section 2.10.          Computation of Interest.

 

Except
as otherwise specified as contemplated by Section 2.1 for Securities of
any series, interest on the Securities of each series shall be computed on the
basis of a 360-day year of twelve 30-day months.

 

Section 2.11.          CUSIP Numbers.

 

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

 

ARTICLE III

 

REDEMPTION OF SECURITIES

 

Section 3.1.            Applicability of Article.

 

Securities of any series which are redeemable
before their Stated Maturity shall be redeemable in accordance with their terms
and (except as otherwise specified as contemplated by Section 2.1
for Securities of any series) in accordance with this Article.

 

Section 3.2.            Election to Redeem; Notice to Trustee.

 

The
election of the Company to redeem any Securities shall be evidenced by a Board
Resolution.  In case of any redemption at
the election of the Company of less than all the Securities of like tenor of
any series, the Company shall, at least 45 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. 
Any such notice may be cancelled at any time prior to notice of such
redemption being mailed to any Holder and shall thereby be void and of no
effect.  In the case of any redemption of
Securities prior to the expiration of any restriction on such redemption
provided in 

 

20

 

the
terms of such Securities or elsewhere in this Indenture, the Company shall
furnish the Trustee with an Officers’ Certificate evidencing compliance with
such restriction.

 

Section 3.3.            Selection by Trustee of Securities to Be
Redeemed.

 

(a)           If less than all the Securities of like tenor of any
series are to be redeemed, the particular securities to be redeemed shall be
selected by the Trustee from the Outstanding Securities of like tenor of such
series not previously called for redemption, by lot or any other such method as
the Trustee shall deem fair and appropriate and which may provide for the
selection for redemption of portions (equal to the minimum authorized
denomination for Securities of that series or any integral multiple thereof) of
the principal amount of such Securities of a denomination larger than the
minimum authorized denomination for such Securities.

 

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

 

(c)           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 Securities redeemed or to be
redeemed only in part, to the portion of the principal amount of such
Securities which has been or is to be redeemed.

 

Section 3.4.            Notice of Redemption.

 

(a)           Unless otherwise indicated for a particular series
of Securities by Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate, notice of redemption shall be given by first-class mail,
postage prepaid, mailed not less than 30 nor more than 60 days prior to the
Redemption Date, to each Holder of Securities to be redeemed, at such Holder’s
address appearing in the Security Register.

 

Such
notice of redemption shall state:

 

(1)           the Redemption Date,

 

(2)           the Redemption Price,

 

(3)           if less than all the
Outstanding Securities of like tenor 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 of such Security will receive, without charge, a new Security or Securities
of authorized denominations for the principal amount thereof remaining
unredeemed,

 

21

 

(5)          that on the Redemption Date
the Redemption Price will become due and payable upon each such Security to be
redeemed and, if applicable, that interest thereon will cease to accrue on and
after such date,

 

(6)           the CUSIP number and/or
similar numbers of such Securities, if any (or any other numbers used by a
Depository to identify such Securities),

 

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

 

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

 

(b)           Any such 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 3.5.            Deposit of Redemption Price.

 

At
least one Business Day 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, the Company shall segregate and hold in trust as provided in Section 5.3)
an amount of money sufficient to pay the Redemption Price of, and (except if
the Redemption Date shall be an Interest Payment Date) accrued interest on, all
the Securities which are to be redeemed on that date.

 

Section 3.6.            Securities Payable on Redemption Date.

 

(a)           Notice of redemption having been given as aforesaid,
the Securities so to be redeemed shall, on the Redemption Date, become due and
payable at the Redemption Price therein specified and, from and after such date
(unless the Company shall default in the payment of the Redemption Price and
accrued interest) such Securities shall cease to bear interest.  Upon surrender of any such Security for
redemption in accordance with such notice, such Security shall be paid by the
Company at the Redemption Price, together with accrued interest to the
Redemption Date; provided, however, that installments of interest
whose Stated Maturity is on or prior to the Redemption Date shall be payable to
the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates
according to their terms and the provisions of Section 2.7.

 

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

 

Section 3.7.            Securities Redeemed in Part.

 

Any
Security which is to be redeemed only in part shall be surrendered at a Place
of Payment therefor (with, if the Company or the Trustee so requires, due
endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed 

 

22

 

by,
the Holder thereof or such Holder’s attorney duly authorized in writing).  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 of like tenor, 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.

 

ARTICLE IV

 

SINKING FUNDS

 

Section 4.1.            Applicability of Article.

 

(a)           The provisions of this Article shall be
applicable to any sinking fund for the retirement of Securities of a series
permitted by the applicable supplemental indenture except as otherwise
specified in accordance with Section 2.1 for Securities of such
series.

 

(b)           The minimum amount of any sinking fund payment
provided for by the terms of Securities of any series is herein referred to as
a “mandatory sinking fund payment”, and any payment in excess of such
minimum amount provided for by the terms of Securities of any series is herein
referred to as an “optional sinking fund payment”.  If provided for by the terms of Securities of
any series, the cash amount of any sinking fund payment may be subject to
reduction as provided in Section 4.2.  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 4.2.            Satisfaction of Sinking Fund Payments with
Securities.

 

The
Company (1) may deliver Outstanding Securities of a series (other than any
previously called for redemption) and (2) may apply as a credit Securities
of a 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 sinking fund
payment with respect to the Securities of such series required to be made pursuant
to the terms of such Securities as provided for by the terms of such series; provided
that such Securities have not been previously so credited.  Such Securities shall be received and
credited for such purpose by the Trustee at the Redemption Price specified in
such Securities for redemption through operation of the sinking fund and the
amount of such sinking fund payment shall be reduced accordingly.

 

Section 4.3.            Redemption of Securities for Sinking Fund.

 

Not
less than 60 days prior to each sinking fund payment date for any series of
Securities, the Company will deliver to the Trustee an Officers’ Certificate
specifying the amount of the next ensuing sinking fund payment for that series
pursuant to the terms of that series, the portion thereof, if any, which is to
be satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivering and crediting Securities of that series pursuant to Section 4.2
and will also deliver to the Trustee any such Securities.  Not less than 30 days before each such
sinking fund payment date the Trustee shall select the Securities to be
redeemed upon such 

 

23

 

sinking
fund payment date in the manner specified in Section 3.3 and cause notice
of the redemption, prepared by the Company, thereof to be given in the name of
and at the expense of the Company in the manner provided in Section 3.4.  Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 3.6 and 3.7.

 

ARTICLE V

 

COVENANTS

 

Section 5.1.            Payment of Principal, Premium and Interest.

 

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

 

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

 

Section 5.2.            Maintenance of Office or Agency.

 

(a)           The Company will maintain in each Place of Payment
for any series of Securities an office or agency where Securities of that
series may be presented or surrendered for payment, where Securities of that
series may be surrendered for registration of transfer or exchange and where
notices and demands to or upon the Company in respect of the Securities of that
series and this Indenture may be served. 
The Company will give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency.  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 Securities of one or more series
may be presented or surrendered for any or all such purposes and may from time
to time rescind such designations; provided, however, that no
such designation or rescission shall in any manner relieve the Company of its
obligation to maintain an office or agency in each Place of Payment for
Securities of any series for such purposes. 
The Company will give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other
office or agency.

 

Section 5.3.            Money for Securities Payments to Be Held in
Trust.

 

(a)           If the Company shall at any time act as its own
Paying Agent with respect to any series of Securities, it will, on or before
each due date of the principal of (and premium, if any) or interest on any of
the Securities of that series, segregate and hold in trust for the benefit of
the 

 

24

 

Persons entitled thereto a sum sufficient to pay the
principal (and premium, if any) or interest 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 failure so to act.

 

(b)           Whenever the Company shall have one or more Paying
Agents for any series of Securities, it will, prior to each due date of the
principal of (and premium, if any) or interest on any Securities of that
series, deposit with a Paying Agent a sum sufficient to pay the principal (and
premium, if any) or interest 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.

 

(c)           The Company will cause each Paying Agent for any
series of Securities other than the Trustee or the Company 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) or interest on Securities
of that series in trust for the benefit of the Persons entitled thereto until
such sums shall be paid to such Persons or otherwise disposed of as herein
provided;

 

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

 

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

 

(d)           The Company may at any time, for the purpose of
obtaining the satisfaction and discharge of this Indenture or for any other
purpose, pay, or by Company Order, direct any Paying Agent to pay, to the
Trustee all sums held in trust by the Company or such Paying Agent, such sums
to be held by the Trustee upon the same trusts as those upon which such sums
were held by the Company or such Paying Agent. 
Upon such payment by any Paying Agent to the Trustee, such Paying Agent
shall be released from all further liability with respect to such money.

 

(e)           Any money deposited with the Trustee or any Paying
Agent, or then held by the Company in trust, for the payment of the principal
of (and premium, if any) or interest on any Security of any series, 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 Company
Request or (if then held by the Company) shall be discharged from such
trust.  Thereafter the Holder of such
Security shall, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease.

 

25

 

Section 5.4.            Corporate Existence.

 

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

 

Section 5.5.            Statement by Officers as to Default.

 

The
Company will deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company ending after the date hereof, an Officers’
Certificate stating whether or not to the knowledge of the signers thereof the
Company is in default in the performance and observance of any of the terms,
provisions and conditions applicable to the Company and, if the Company shall
be in default, specifying all such defaults and the nature and status thereof
of which they may have knowledge.  If any
default or Event of Default under clauses (4), (5), (6),  (7) or
(8) of Section 7.1 has occurred and is continuing,
within 10 Business Days after its becoming aware of such occurrence, the
Company shall deliver to the Trustee an Officers’ Certificate specifying such
event and what action the Company is taking or proposes to take with respect
thereto.

 

ARTICLE VI

 

CONSOLIDATION, MERGER,
CONVEYANCE, TRANSFER OR LEASE

 

Section 6.1.            Company May Consolidate, Etc., Only
on Certain Terms.

 

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

 

(1)           in case the Company shall
consolidate with or merge into another corporation or convey, transfer or lease
its properties and assets substantially as an entirety to any Person, the
corporation formed by such consolidation 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 shall be a
corporation organized and existing under the laws of the United States of
America, any State thereof or the District of Columbia and shall expressly
assume, by an indenture supplemental hereto, executed and delivered to the
Trustee, in form reasonably satisfactory to the Trustee, the due and punctual
payment of the principal of (and premium, if any) and interest 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;

 

(2)           immediately after giving
effect to such transaction and treating any Indebtedness which becomes an
obligation of the Company or a Subsidiary as a result of such transaction as
having been incurred by the Company or such Subsidiary at the time 

 

26

 

of such transaction, no Event of Default, and
no event which, after notice or lapse of time or both, would become an Event of
Default, shall have occurred and be continuing; and

 

(3)           the Company has delivered to
the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that such consolidation, merger, conveyance, transfer or lease and, if a
supplemental indenture is required in connection with such transaction, such
supplemental indenture complies with this Article and that all conditions
precedent herein provided for relating to such transaction have been complied
with.

 

Section 6.2.            Successor Substituted.

 

Upon
any consolidation by the Company with or merger by the Company into any other
corporation or any conveyance, transfer or lease of the properties and assets
of the Company substantially as an entirety in accordance with Section 6.1,
the successor corporation formed by such consolidation or into which the
Company is merged or the Person 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, except
in the case of a lease, the predecessor Person shall be relieved of all
obligations and covenants under this Indenture and the Securities.

 

ARTICLE VII

 

REMEDIES

 

Section 7.1.            Events of Default.

 

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

 

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

 

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

 

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

 

(4)           default in the performance,
or breach, of any covenant or warranty of the Company in this Indenture (other
than a covenant or warranty a default in whose performance or whose breach is
elsewhere in this Section specifically dealt with or which has expressly
been included in this Indenture solely for the benefit of a series of 

 

27

 

Securities other than the series in respect
of which the Event of Default is being determined), and continuance of such
default or breach for a period of 60 days after there has been given, by
registered or certified mail, to the Company by the Trustee or to the Company
and the Trustee by the Holders of at least 25% in principal amount of the
Outstanding Securities of that series a written notice specifying such default
or breach and requiring it to be remedied and stating that such notice is a “Notice
of Default” hereunder; or

 

(5)           a default under any bond,
debenture, note or other evidence of or agreement for Indebtedness by the
Company (including a default with respect to Securities of any series other
than that series) or under any mortgage, indenture or instrument under which
there may be issued or by which there may be secured or evidenced any
Indebtedness for money borrowed by the Company (including this Indenture),
whether such Indebtedness now exists or shall hereafter be created, which
default shall have resulted (A) from the failure to pay the principal
amount of such Indebtedness in excess of $100,000,000, individually or in the
aggregate, upon final maturity of such Indebtedness or (B) in such
Indebtedness becoming or being declared due and payable prior to the date on
which it would otherwise have become due and payable and the principal amount
of such Indebtedness under this clause (B), when aggregated with the
principal amount of any other Indebtedness of the Company in default at final
maturity, or the maturity of which has been accelerated, is $100,000,000 or
more, individually or in the aggregate, in the case of each of clause (A) and
clause (B) without such Indebtedness having been discharged or such
acceleration having been rescinded or annulled, within a period of 10 days
after there shall have been given, by registered or certified mail, to the
Company by the Trustee or to the Company and the Trustee by the Holders of at
least 25% in principal amount of the Outstanding Securities of that series a
written notice specifying such default and requiring the Company to cause such
acceleration to be rescinded or annulled and stating that such notice is a “Notice
of Default” hereunder; provided, however, that, subject to
the provisions of Sections 8.1 and 8.2, the Trustee shall not be
deemed to have knowledge of such default unless either (A) a Responsible
Officer of the Trustee shall have actual knowledge of such default or (B) a
Responsible Officer of the Trustee shall have received written notice thereof
from the Company, from any Holder, from the holder of any such Indebtedness or
from the trustee under any such mortgage, indenture or other instrument; or

 

(6)           the entry by a court having
jurisdiction in the premises of (A) a decree or order for relief in
respect of the Company in an involuntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar
law or (B) a decree or order adjudging the Company a bankrupt or
insolvent, or approving as properly filed a petition seeking reorganization,
arrangement, adjustment or composition of or in respect of the Company under
any applicable Federal or State law, or appointing a custodian, 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
for relief or any such other decree or order unstayed and in effect for a
period of 90 consecutive days; or

 

28

 

(7)           the commencement by the
Company of a voluntary case or proceeding under any applicable Federal or State
bankruptcy, insolvency, reorganization or other similar law or of any other
case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by
it to the entry of a decree or order for relief in respect of the Company in an
involuntary case or proceeding under any applicable Federal or State
bankruptcy, insolvency, reorganization or other similar law or to the
commencement of any bankruptcy or insolvency case or proceeding against it, or
the filing by it of a petition or answer or consent seeking reorganization or
relief under any applicable Federal or State law, or the consent by it to the
filing of such petition or to the appointment of or taking possession by a
custodian, receiver, liquidator, assignee, trustee, sequestrator or similar
official of the Company or of any substantial part of its property, or the
making by the Company of an assignment for the benefit of creditors, or the
admission by the Company in writing of its inability to pay its debts generally
as they become due, or the taking of corporate action by the Company in
furtherance of any such action; or

 

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

 

Subject
to the provisions of Section 8.1, the Trustee shall not be deemed
to have knowledge of an Event of Default hereunder (except for those described
in paragraphs (1) through (3) above) unless a
Responsible Officer of the Trustee has received written notice thereof.

 

Section 7.2.            Acceleration of Maturity; Rescission and
Annulment.

 

(a)           If an Event of Default with respect to Securities of
any series at the time Outstanding (other than an Event of Default specified in
clause (6) or (7) of Section 7.1) occurs
and is continuing, then and in every such case the Trustee or the Holders of
not less than 25% in principal amount of the Outstanding Securities of that
series may declare the principal amount (or, if any of the Securities of that
series are Original Issue Discount Securities, such portion of the principal amount
of such Securities as may be specified in the terms thereof) 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 amount) shall become
immediately due and payable.  If an Event
of Default specified in clause (6) or (7) of Section 7.1
occurs, the principal amount (or, if any of the Securities of that series are
Original Issue Discount Securities, such portion of the principal amount of
such Securities as may be specified in the terms thereof) of all of the
Outstanding Securities of that series shall be immediately due and payable
without any declaration or other act on the part of the Trustee or any Holder
of any Security of that series.

 

(b)           At any time after such a declaration of acceleration
with respect to Securities of any series has been made and before a judgment or
decree for payment of the money due has been obtained by the Trustee as
hereinafter in this Article provided, the Holders of a majority in
principal amount of the Outstanding Securities of that series, by written
notice to the Company and the Trustee, may rescind and annul such declaration
and its consequences if:

 

29

 

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

 

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

 

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

 

(C)           to the extent that payment
of such interest is lawful, interest upon overdue principal (and premium, if
any) and overdue interest 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

 

(2)           all Events of Default with
respect to Securities of that series, other than the non-payment of the
principal of Securities of that series which have become due solely by such
declaration of acceleration, have been cured or waived as provided in Section 7.13.

 

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

 

(d)           Upon receipt by the Trustee of any declaration of
acceleration, or rescission and annulment thereof, with respect to Securities
of a series all or part of which is represented by a Global Security, the
record date for determining Holders of Outstanding Securities of such series
entitled to join in such declaration of acceleration, or rescission and
annulment, as the case may be, shall be the day the Trustee receives such
declaration of acceleration, or rescission and annulment, as the case may be,
or, if such receipt occurs after the close of business or on a day that is not
a Business Day, the next succeeding Business Day.  The Holders on such record date, or their
duly designated proxies, and only such Persons, shall be entitled to join in
such declaration of acceleration, or rescission and annulment, as the case may
be, whether or not such Holders remain Holders after such record date; provided,
that unless such declaration of acceleration, or rescission and annulment, as
the case may be, shall have become effective by virtue of the requisite
percentage having been obtained prior to the day which is 90 days after such
record date, such declaration of acceleration, or rescission and annulment, as
the case may be, shall automatically and without further action by any Holder
be canceled and of no further effect. 
The Trustee may conclusively rely on any representation by the Holders
delivering such declaration of acceleration, or rescission and annulment, as
the case may be, that such Holders constitute the requisite percentage to
deliver such declaration.  Nothing in
this paragraph shall prevent a Holder, or a proxy of a Holder, from giving,
after expiration of such 90-day period, a new declaration of acceleration, or
rescission or annulment thereof, as the case may be, that is identical to a
declaration of acceleration, or rescission or annulment thereof, which has been

 

30

 

canceled pursuant to the provision to the preceding
sentence, in which event a new record date shall be established pursuant to the
provision of this Section 7.2.

 

Section 7.3.            Collection of Indebtedness and Suits for
Enforcement by Trustee.

 

(a)           The Company covenants that if:

 

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

 

(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
deposit of any sinking fund payment, when and as due by the terms of a
Security;

 

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

 

(b)           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.

 

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

 

Section 7.4.            Trustee May File Proofs of Claim.

 

(a)           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, (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 

 

31

 

whether the Trustee shall have made any demand on
the Company for the payment of overdue principal (and premium, if any) or
interest) the Trustee 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) and interest owing and
unpaid in respect of the Securities and to file such other papers or documents
as may be necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel) and of the Holders allowed
in such judicial proceeding, and

 

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

 

(b)           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 8.7.

 

(c)           Nothing herein contained shall be deemed to
authorize the Trustee to authorize, consent to, 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 7.5.            Trustee May Enforce Claims Without
Possession of Securities.

 

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

 

Section 7.6.            Application of Money Collected.

 

Any
money collected by the Trustee pursuant to this Article shall be applied
in the following order, at the date or dates fixed by the Trustee and, in case
of the distribution of such money on account of principal (or premium, if any)
or interest, upon presentation of the Securities and the notation thereon of
the payment if only partially paid and upon surrender thereof if fully paid:

 

FIRST:  To the
payment of all amounts due the Trustee under Section 8.7;

 

32

 

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

 

THIRD:  To the
Company.

 

Section 7.7.            Limitation on Suits.

 

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

 

(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;

 

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

 

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

 

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

 

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

 

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

 

Section 7.8.            Unconditional Right of Holders to Receive
Principal, Premium and Interest.

 

Notwithstanding
any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the
principal of (and premium, if any) and (subject to Section 2.7)
interest on such Security on the Stated Maturity or Maturities expressed in
such Security (or, in the case of redemption, on the Redemption Date) and to
institute suit for the enforcement of any such payment, and such rights shall
not be impaired without the consent of such Holder.

 

33

 

Section 7.9.            Restoration of Rights and Remedies.

 

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

 

Section 7.10.          Rights and Remedies Cumulative.

 

Except as otherwise provided with respect to the replacement or payment
of mutilated, destroyed, lost or stolen Securities in Section 2.6,
no right or remedy herein conferred upon or reserved to the Trustee or to the
Holders is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. 
The assertion or employment of any right or remedy hereunder, or otherwise,
shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

 

Section 7.11.          Delay or Omission Not Waiver.

 

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

 

Section 7.12.          Control by Holders.

 

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

 

(1)           such direction shall not be
in conflict with any rule of law or with this Indenture, nor subject the
Trustee to a material risk of personal liability in respect of which the
Trustee has not received reasonably satisfactory indemnification, and

 

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

 

(b)           Upon receipt by the Trustee of any such direction
with respect to Securities of a series all or part of which is represented by a
Global Security, the record date for determining Holders of outstanding
Securities of such series entitled to join in such direction shall be the day
the Trustee receives such direction, or, if such receipt occurs after the close
of business or on a 

 

34

 

day that is not a Business Day, the next succeeding
Business Day, The Holders on such record date, or their duly designated
proxies, and only such Persons, shall be entitled to join in such direction,
whether or not such Holders remain Holders after such record date; provided,
that unless such majority in principal amount shall have been obtained prior to
the day which is 90 days after such record date, such direction shall
automatically and without further action by any Holder be canceled and of no
further effect.  The Trustee may
conclusively rely on any representation by the Holders delivering such
direction that such Holders constitute the requisite percentage to deliver such
direction.  Nothing in this paragraph
shall prevent a Holder, or a proxy of a Holder, from giving, after expiration
of such 90-day period, a new direction identical to a direction which has been
canceled pursuant to the provisions to the preceding sentence, in which event a
new record date shall be established pursuant to the provisions of this Section 7.12.

 

Section 7.13.          Waiver of Past Defaults.

 

(a)           The Holders of not less than a majority in principal
amount of the Outstanding Securities of any series may on behalf of the Holders
of all the Securities of such series waive any past default hereunder with
respect to such series and its consequences, except a default:

 

(1)           in the payment of the
principal of (or premium, if any) or interest on any Security of such series,
or

 

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

 

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

 

Section 7.14.          Undertaking for Costs.

 

Each
party to this Indenture agrees, and each Holder of any Security by acceptance
thereof shall be deemed to have agreed, that any court may in its discretion
require, in any suit for the enforcement of any right or remedy under this
Indenture, or in any suit against the Trustee for any action taken, suffered or
omitted by it as Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees,
against any party litigant in such suit, having due regard to the merits and
good faith of the claims or defenses made by such party litigant; but the
provisions of this Section shall not apply to any suit instituted by the
Company, to any suit instituted by the Trustee, to any suit instituted by any
Holder, or group of Holders, holding in the aggregate more than 10% in
principal amount of the Outstanding Securities of any series, or to any suit
instituted by any Holder for the enforcement of the payment of the principal of
(or premium, if any) or interest on any Security on or after the Stated
Maturity or Maturities expressed in such Security (or, in the case of
redemption, on or after the Redemption Date).

 

35

 

Section 7.15.          Waiver of Usury, Stay or Extension 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 usury, stay or extension law 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.

 

ARTICLE VIII

 

THE TRUSTEE

 

Section 8.1.            Certain Duties and Responsibilities.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

36

 

(3)           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, determined as provided in Section 7.12,
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

 

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

 

(d)           Whether or not 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 8.2.            Notice of Defaults.

 

Within
90 days after the Trustee has gained knowledge of an occurrence of any default
hereunder with respect to the Securities of any series, the Trustee shall
transmit by mail to all Holders of Securities of such series, as their names
and addresses appear in the Security Register, notice of such default hereunder
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 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 trust committee
of directors or Responsible Officers of the Trustee in good faith determines
that the withholding of such notice is in the interest of the Holders of
Securities of such series.  For the
purpose of this Section, the term “default” means any event which is, or
after notice or lapse of time or both would become, an Event of Default with
respect to Securities of such series.

 

Section 8.3.            Certain Rights of Trustee.

 

Subject
to the provisions of Section 8.1:

 

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

 

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

 

37

 

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

 

(d)           the Trustee may consult with counsel of its
selection 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;

 

(e)           the Trustee shall be under no obligation to exercise
any of the rights or powers vested in it by this Indenture at the request or
direction of any of the Holders pursuant to this Indenture (including, without
limitation, instituting, conducting or defending any litigation), unless such
Holders shall have offered to the Trustee security or indemnity reasonably
satisfactory to it against the costs, expenses and liabilities which might be
incurred by it in compliance with such request or direction;

 

(f)            the Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent,
order, bond, debenture, note, other evidence of indebtedness or other 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;

 

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

 

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

 

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

 

(j)            the Trustee may request that the Company deliver a
certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture, provided
that the Trustee reasonably believes that the last such certificate received
from the Company or currently on file is no longer accurate.

 

38

 

Section 8.4.            Not Responsible for Recitals or Issuance of
Securities.

 

The
recitals contained herein and in the Securities, except the Trustee’s
certificates of authentication, shall be taken as the statements of the
Company, and the Trustee or any Authenticating Agent assumes no responsibility
for their correctness.  The Trustee makes
no representations as to the validity or sufficiency of this Indenture or of
the Securities.  The Trustee or any
Authenticating Agent shall not be accountable for the use or application by the
Company of Securities or the proceeds thereof.

 

Section 8.5.            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, subject to Sections
8.8 and 8.13, may otherwise deal with the Company with the same
rights it would have if it were not Trustee, Authenticating Agent, Paying
Agent, Security Registrar or such other agent.

 

Section 8.6.            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 8.7.            Compensation and Reimbursement.

 

The
Company agrees:

 

(1)           to pay to the Trustee from
time to time such reasonable compensation for its acceptance of this Indenture
and for its services hereunder as Trustee, Paying Agent, Security Registrar and
in all other capacities in which it is serving hereunder as the Company and the
Trustee shall from time to time agree in writing (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 out-of-pocket expenses, disbursements and advances incurred or made
by the Trustee in accordance with any provision of this Indenture (including the
reasonable compensation, expenses and disbursements of its agents and counsel),
except any such expense, disbursement or advance as may be attributable to its
negligence, bad faith or willful misconduct; and

 

(3)           to indemnify the Trustee and
its agents, directors, employees and officers for, and to hold them harmless
against, any loss, claim, damage, liability or out-of-pocket expense (including
the reasonable compensation, expenses and disbursements of its agents and
counsel) incurred without negligence, bad faith or willful misconduct on its or
their part, arising out of or in connection with the acceptance or
administration of the trust or trusts hereunder, including the reasonable costs
and out-of-pocket expenses of 

 

39

 

defending itself against any claim or
liability in connection with the exercise or performance of any of the Trustee’s
powers or duties hereunder.

 

As
security for the performance of the obligations of the Company under this
Section, the Trustee shall have a lien prior to the Securities upon all
property and funds held or collected by the Trustee in such capacity, except
funds held in trust for the payment of principal of, premium, if any, or
interest, if any, on particular Securities. 
If the Trustee incurs expenses or renders services after the occurrence
and during the continuance of an Event of Default, the expenses and the
compensation for the services will be intended to constitute expenses of
administration under Title 11 of the United States Bankruptcy Code or any
applicable federal or state law for the relief of debtors.  The provisions of this Section 8.7
shall survive the resignation or removal of the Trustee and the termination of
this Indenture.

 

Section 8.8.            Disqualification; Conflicting Interests.

 

The
Trustee shall comply with the terms of section 310(b) of the Trust
Indenture Act.

 

Section 8.9.            Corporate Trustee Required; Eligibility.

 

There
shall at all times be a Trustee hereunder which shall be a corporation
organized and doing business under the laws of the United States of America,
any State thereof or the District of Columbia, authorized under such laws to
exercise corporate trust powers, having a combined capital and surplus of at
least $50,000,000 and subject to supervision or examination by Federal or State
authority.  If such corporation publishes
reports of condition at least annually, pursuant to law or to the requirements
of such 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 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.

 

Section 8.10.          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 8.11.

 

(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 8.11 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 a majority in
principal amount of the Outstanding Securities of such series, delivered to the
Trustee and to the Company.

 

40

 

(d)           If at any time:

 

(1)           the Trustee shall fail to
comply with Section 8.8 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 8.9 and shall fail to resign after
written request therefor by the Company or any such Holder, 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 Section 7.14,
any Holder who has been a bona fide Holder of a Security for at least six
months may, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the removal of the Trustee with respect
to all Securities and the appointment of a successor Trustee or Trustees.

 

(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) and shall
comply with the applicable requirements of Section 8.11.  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 8.11, 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 required by Section 8.11,
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.

 

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

 

41

 

Section 8.11.          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 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.  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.

 

(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 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.  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.  On request of the Company or any successor
Trustee, such retiring Trustee shall duly assign, transfer and deliver to such
successor Trustee all property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates.

 

(c)           Upon request of any such successor Trustee, the
Company shall execute any and all instruments for more fully and certainly
vesting in and confirming to such successor Trustee all such rights, powers and
trusts referred to in clause  (a) and (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.

 

42

 

Section 8.12.          Merger, Conversion, Consolidation or Succession to
Business.

 

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

 

Section 8.13.          Preferential Collection of Claims.

 

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

 

Section 8.14.          Appointment of Authenticating Agent.

 

(a)           At any time when any of the Securities remain
Outstanding, the Trustee may and, upon request of the Company, shall 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 2.6; provided
that the Trustee’s appointment of such Authenticating Agent shall be subject to
the Company’s approval at the time of and throughout such appointment.  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.  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 at all times be a corporation organized and doing
business under the laws of the United States of America, 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 or State authority.  If such Authenticating Agent publishes
reports of condition at least annually pursuant to law or to the requirements
of such supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such Authenticating Agent shall be
deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published.  If at
any time an Authenticating Agent shall cease to be eligible in accordance with
the provisions of this Section, such Authenticating Agent shall resign
immediately in the manner and with the effect specified in this Section.

 

43

 

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

 

(c)           An
Authenticating Agent may resign at any time by giving written notice thereof to
the Trustee and 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 the Company, and the
Trustee shall terminate any such agency promptly upon request by 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 and, upon request of the Company,
shall appoint a successor Authenticating Agent, provided that the
Trustee’s appointment of such Authentication Agent shall be subject to the
Company’s approval at the time of and throughout such appointment, and shall
mail written notice of such appointment by first-class mail, postage prepaid,
to all Holders of Securities of the series with respect to which such
Authenticating Agent will serve, as their names and addresses appear in the
Security Register.  Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become
vested with all the rights, powers and duties of its predecessor hereunder,
with like effect as if originally named as an Authenticating Agent.  No successor Authenticating Agent shall be
appointed unless eligible under the provisions of this Section.

 

(d)           The
Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section.

 

(e)           If
an appointment of an Authenticating Agent with respect to one or more series is
made pursuant to this Section, the Securities of such series may have endorsed
thereon, in lieu of the Trustee’s certificate of authentication, an alternate
certificate of authentication in the following form:

 

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

 

	
   

  	
   

  
	
   

  	
  as
  Trustee

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
  As
  Authenticating Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
  Authorized
  Signatory

  
	
   

  	
   

  
	
   

  	
   

  
	
  Date:                        

  	
   

  

 

44

 

Section 8.15.          Consequential
Damages.

 

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

 

Section 8.16.          Notices.

 

The
Trustee agrees to accept and act upon instructions or directions pursuant to
this Indenture sent by unsecured e-mail, pdf, facsimile transmission or other
similar unsecured electronic methods, provided, however, that the Trustee shall
have received or have on file an incumbency certificate listing persons
designated to give such instructions or directions and containing specimen
signatures of such designated persons, which such incumbency certificate shall be
amended and replaced whenever a person is to be added or deleted from the
listing.  If the Issuer elects to give
the Trustee e-mail or facsimile instructions (or instructions by a similar
electronic method) and the Trustee in its discretion elects to act upon such
instructions, the Trustee’s understanding of such instructions shall be deemed
controlling. The Trustee shall not be liable for any losses, costs or expenses
arising directly or indirectly from the Trustee’s reliance upon and compliance
with such instructions notwithstanding such instructions conflict or are
inconsistent with a subsequent written instruction. The Company agrees to
assume all risks arising out of the use of such electronic methods by the
Company to submit instructions and directions to the Trustee, including without
limitation the risk of the Trustee acting on unauthorized instructions, and the
risk or interception and misuse by third parties.

 

Section 8.17.          Force
Majeure.

 

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

 

ARTICLE IX

 

HOLDERS’ LISTS AND REPORTS
BY TRUSTEE AND COMPANY

 

Section 9.1.            Company
to Furnish Trustee Names and Addresses of Holders.

 

If
the Trustee is not the Security Registrar, the Company will furnish or cause to
be furnished to the Trustee:

 

45

 

(a)                                  semi-annually
(at intervals of not more than six months), not later than 15 days after each
Regular Record Date (or, if there is no Regular Record Date relating to a
series, semi-annually on dates set forth in the Board Resolution or
supplemental indenture with respect to such series), a list, in such form as
the Trustee may reasonably require, of the names and addresses of the Holders
as of such date, and

 

(b)                                 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.

 

Section 9.2.                                   Preservation of
Information; Communications to Holders.

 

(a)                                  The Trustee
shall preserve, in as current a form as is reasonably practicable, the names
and addresses of Holders contained in the most recent list furnished to the
Trustee as provided in Section 9.1 and the names and addresses of
Holders received by the Trustee in its capacity as Security Registrar.  The Trustee may destroy any list furnished to
it as provided in Section 9.1 upon receipt of a new list so
furnished.

 

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

 

Section 9.3.                                   Reports by
Trustee.

 

(a)                                  Within 60 days
after May 15 of each year, commencing the May 15 following the date
of this Indenture, the Trustee shall, to the extent that any of the events
described in section 313(a) of the Trust Indenture Act occurred within the
previous 12 months, but not otherwise, mail to each Holder a brief report dated
as of such date that complies with section 313(a) of the Trust Indenture
Act.  The Trustee also shall comply with
sections 313(a), 313(b), 313(c) and 313(d) of the Trust Indenture
Act.

 

(b)                                 A copy of each
report at the time of its mailing to Holders shall be mailed to the Company and
filed with the Commission and each securities exchange, if any, on which the
Securities of that series are listed.

 

(c)                                  The Company
shall notify the Trustee if the Securities of any series become listed on any
securities exchange or of any delisting thereof and the Trustee shall comply
with section 313(d) of the Trust Indenture Act.

 

Section 9.4.                                   Reports by
Company.

 

(a)                                  The Company
shall:

 

(1)           file with the Trustee, within 15 days after the Company
files the same with the Commission, copies of the annual reports and of the
information, documents and 

 

46

 

other reports (or copies of such portions of
any of the foregoing as the Commission may from time to time by rules and
regulations prescribe) which the Company may be required to file with the
Commission pursuant to section 13 or section 15(d) of the Exchange Act; or, if
the Company is not required to file information, documents or reports pursuant
to either of such Sections, then it shall file with the Trustee and the
Commission, in accordance with, and to the extent required by, rules and
regulations prescribed from time to time by the Commission, such of the
supplementary and periodic information, documents and reports which may be
required pursuant to section 13 of the Exchange Act in respect of a security
listed and registered on a national securities exchange as may be prescribed
from time to time in such rules and regulations;

 

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

 

(3)           transmit by mail to all Holders, as their names and
addresses appear in the Security Register, within 30 days after the filing
thereof with the Trustee, such summaries of any information, documents and
reports required to be filed by the Company pursuant to clauses (a)(1) and
(a)(2) of this Section as may be required by rules and
regulations prescribed from time to time by the Commission.

 

(b)                                 Delivery of any
information, documents and reports to the Trustee pursuant to clauses (a)(1) and
(a)(2) of this Section is for informational purposes only and
the Trustee’s receipt of such items shall not constitute constructive notice of
any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its covenants hereunder
(as to which the Trustee is entitled to rely exclusively on Officers’
Certificates).

 

ARTICLE X

 

SUPPLEMENTAL INDENTURES

 

Section 10.1.                             Supplemental
Indentures Without Consent of Holders.

 

Without
the consent of any Holders, the Company, when authorized by a Board Resolution,
and the Trustee (at the direction of the Company) at any time and from time to
time, may enter into one or more indentures supplemental hereto, in form
reasonably 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 herein and in the Securities; or

 

(2)           to add to the covenants of the Company for the benefit of
the Holders of all or any series of Securities (and if such covenants are to be
for the benefit of less than 

 

47

 

all series of Securities, stating that such
covenants are expressly being included solely for the benefit of such series)
or to surrender any right or power herein conferred upon the Company; or

 

(3)           to add any additional Events of Default with respect to
all or any series of Securities (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 expressly being included solely for the benefit of such series); or

 

(4)           to add to or change any of the provisions of this
Indenture to such extent as shall be necessary to permit or facilitate the
issuance of new Securities permitted by Section 2.1 in bearer form,
registrable or not registrable as to principal, and with or without interest
coupons, or to permit or facilitate the issuance of Securities in
uncertificated form; 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 make a change to the Securities of any series that does
not adversely affect the rights of any Holder of the Securities of such series;
or

 

(7)           to establish the form or terms of Securities of any series
as permitted by Section 2.1; or

 

(8)           to evidence and provide for the acceptance of appointment
hereunder by a successor Trustee with respect to the Securities of one or more
series or 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 8.11(b);
or

 

(9)           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 action shall not
adversely affect the interests of the Holders of Securities of any series in
any material respect;

 

(10)         to comply with any requirement of the Commission in order to
effect or maintain the qualification of this Indenture under the Trust
Indenture Act; or

 

(11)         to conform the Indenture or the Securities to the
description thereof in the related prospectus, offering memorandum or
disclosure document.

 

48

 

Section 10.2.                             Supplemental
Indentures with Consent of Holders.

 

(a)                                  With the
consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series so affected by such supplemental
indenture, by Act of such Holders delivered to the Company and the Trustee, the
Company, when authorized by a Board Resolution, and the Trustee (at the
direction of the Company) may enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to or changing in
any manner or eliminating any of the provisions of this Indenture or of the
Securities of such series or of modifying in any manner the rights of the
Holders of Securities of such series under this Indenture.  Without the consent of the Holder of each
Outstanding Security directly affected thereby, a supplemental indenture under
this Section 10.2 shall not (with respect to any Outstanding
Security held by a non-consenting Holder):

 

(1)           change the Stated Maturity of, the principal of, or any
installment of principal of or interest on, such Security, or reduce the
principal amount thereof or the rate of interest thereon or any premium payable
upon the redemption thereof, or reduce the amount of the principal of an
Original Issue Discount Security that would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 7.2,
or adversely affect any right of repayment of such Security at the Holder’s
option or change any Place of Payment where, or the currency in which, such
Security or any premium or the interest thereon is payable, or impair the right
to institute suit for the enforcement of any such payment on or after the
Stated Maturity thereof (or, in the case of redemption, on or after the
Redemption Date) or modify the Securities of any series to subordinate such Securities
to other Indebtedness, or

 

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

 

(3)           modify any of the provisions of this Section or Section 7.13,
except to increase any such percentage or to provide that certain other
provisions of this Indenture cannot be modified or waived without the consent
of the Holder of each Outstanding Security directly affected thereby; provided,
however, that this clause shall not be deemed to require the consent of
any Holder with respect to changes in the references to “the Trustee” and
concomitant changes in this Section, or the deletion of this proviso, in
accordance with the requirements of Sections 8.11(b) and 10.1(8).

 

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

 

49

 

(c)                                  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.

 

(d)                                 The Company may
set a record date for purposes of determining the identity of Holders of
Securities entitled to consent pursuant to this Section.  Such record date shall be the later of (i) 30
days prior to the first solicitation of such consent or (ii) the date of the
most recent list of Holders furnished to the Trustee pursuant to Section 9.1
prior to such solicitation.

 

Section 10.3.                             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
(subject to Section 8.1) shall be fully protected in relying upon,
an Officers’ Certificate and an Opinion of Counsel stating that the execution
of such supplemental indenture is authorized or permitted by this Indenture and
complies with the provisions hereof (including Section 10.5).  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 or liabilities under this Indenture or otherwise.

 

Section 10.4.                             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.  Every Holder of Securities theretofore or
thereafter authenticated and delivered hereunder shall be bound thereby.

 

Section 10.5.                             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.

 

Section 10.6.                             Reference in
Securities to Supplemental Indentures.

 

Securities
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 such Securities may be
authenticated and delivered by the Trustee, in exchange for Outstanding
Securities of such series.

 

50

 

ARTICLE XI

 

SATISFACTION AND DISCHARGE;
DEFEASANCE

 

Section 11.1.                             Satisfaction
and Discharge of Indenture.

 

(a)                                  This Indenture
shall upon Company Request cease to be of further effect with respect to
Securities of any series (except as to any surviving rights of registration of
transfer or exchange of Securities of such series and replacement of lost,
stolen or mutilated Securities of such series herein expressly provided for),
and the Trustee, on the demand of and at the expense of the Company, shall
execute instruments acknowledging satisfaction and discharge of this Indenture
with respect to such series, when:

 

(1)                                  Either:

 

(A)                              all Securities
of such series theretofore authenticated and delivered have been delivered to
the Trustee for cancellation (other than (i) Securities of such series
which have been destroyed, lost or stolen and which have been replaced or paid
as provided in Section 2.6 and (ii) Securities of such series
for whose payment money has theretofore been deposited in trust or segregated
and held in trust by the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 5.3); or

 

(B)                                all such
Securities of such series 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)          are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of
redemption,

 

and the Company, in the case of clauses (i), (ii) or
(iii) above, has deposited or caused to be deposited with the Trustee as
trust funds in trust for the purpose an amount sufficient to pay and discharge
the entire indebtedness on such Securities of such series not theretofore
delivered to the Trustee for cancellation, for principal (and premium, if any)
and interest to the date of such deposit (in the case of Securities of such
series which have become due and payable) or to the Stated Maturity or
Redemption Date, as the case may be; and

 

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

 

51

 

(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 the satisfaction and discharge of this Indenture
have been complied with.

 

(b)                                 At any time
when no Securities of any series are outstanding, this Indenture shall upon
Company Request cease to be of further effect and the Trustee, at the expense
of the Company, shall execute instruments of satisfaction and discharge of this
Indenture.

 

(c)                                  Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 8.7 and, if money shall have
been deposited with the Trustee pursuant to subclause (B) of clause
(a)(1) of this Section 11.1, the obligations of the
Trustee under Section 11.6 and Section 5.3(e) shall
survive.

 

Section 11.2.                             Company’s
Option to Effect Defeasance or Covenant Defeasance.

 

Unless
pursuant to Section 2.1 provision is made for either or both of (a) defeasance
of the Securities of another series under Section 11.3 not to be
applicable with respect to the Securities of a particular series or (b) covenant
defeasance of the Securities of another series under Section 11.4
not to be applicable with respect to the Securities of such particular series,
then the provisions of such Sections, together with the other provisions of Sections
11.3, 11.4, 11.5 and 11.6, shall be applicable to the
Securities of such particular series, and the Company may at its option by or
pursuant to a Board Resolution, at any time, with respect to the Securities of
such particular series, elect to have either Section 11.3 or Section 11.4
be applied to the Outstanding Securities of such series upon compliance with
the conditions set forth below in Sections 11.3, 11.4, 11.5
and 11.6.

 

Section 11.3.                             Defeasance and
Discharge.

 

Upon
the Company’s exercise of the option set forth in Section 11.2 and
satisfaction of the conditions to defeasance set forth in Section 11.5,
the Company shall be deemed to have been discharged from its obligations with
respect to the Outstanding Securities of such series on the date the conditions
set forth below 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 the Outstanding Securities of such series and to have satisfied
all its other obligations under such Securities and this Indenture insofar as
such Securities are concerned (and the Trustee, at the expense of the Company,
shall execute instruments acknowledging the same), except for the following
which shall survive until otherwise terminated or discharged hereunder: (A) the
rights of Holders of Outstanding Securities of such series to receive, solely
from the trust fund described in Section 11.5 and as more fully set
forth in such Section, payments in respect of the principal of (and premium, if
any) and interest on such Securities when such payments are due, (B) the
Company’s obligations with respect to such Securities under Sections 2.4,
2.5, 2.6, 5.2 and 5.3, (C) the rights, powers,
trusts, duties, and immunities of the Trustee under Sections 2.5, 2.6, 2.7,
2.8, 2.9, 5.3(e), 8.7 and 11.6 and otherwise
the duty of the Trustee to authenticate Securities of such series issued on
registration of transfer or exchange and (D) Sections 11.3, 11.4,
11.5 and 11.6.  Subject to
compliance with Sections 11.3, 11.4, 11.5 and 11.6,
the Company may exercise its option under this Section 11.3  

 

52

 

notwithstanding
the prior exercise of its option under Section 11.4 with respect to
the Securities of such series.

 

Section 11.4.                             Covenant
Defeasance.

 

Upon
the Company’s exercise of the option set forth in Section 11.2 and
satisfaction of the conditions to defeasance set forth in Section 11.5,
the Company shall be released from its obligations under Sections 5.4, 5.5,
6.1(2) and 9.4 and any other covenants to be applicable to
the Securities of a series as specified pursuant to Section 2.1
unless specified otherwise pursuant to such Section (and the failure to
comply with any such provisions shall not constitute a default or Event of
Default under Section 7.1), and the occurrence of any event
described in Sections 7.1(4), (5) and (8) and
any other events of default to be applicable to the Securities of a series as
specified pursuant to Section 2.1 unless specified otherwise
pursuant to such Section shall not constitute a default or Event of
Default hereunder, with respect to the Outstanding Securities of such series on
and after the date the conditions set forth below are satisfied (hereinafter, “covenant
defeasance”).  For this purpose, such
covenant defeasance means that, with respect to the Outstanding Securities of
such series, 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 Section with
respect to it, whether directly or indirectly by reason of any reference
elsewhere herein to any such Section or by reason of any reference in any
such Section to any other provision herein or in any other document, but
the remainder of this Indenture and such Securities shall be unaffected
thereby.

 

Section 11.5.                             Conditions to
Defeasance or Covenant Defeasance.

 

The
following shall be the conditions to application of either Section 11.3
or Section 11.4 to the Outstanding Securities of such series:

 

(a)                                  the Company
shall irrevocably have deposited or caused to be deposited with the Trustee (or
another trustee satisfying the requirements of Section 8.9 who
shall agree to comply with the provisions of this Article XI
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, (A) money in an amount,
or (B) U.S. Government Obligations which through the scheduled payment of
principal and interest in respect thereof in accordance with their terms will
provide, not later than the due date of any payment, money in an amount, or (C) a
combination thereof, sufficient, in the opinion of a nationally recognized firm
of independent public accountants expressed in a written certification thereof
delivered to the Trustee, to pay and discharge, and which shall be applied by
the Trustee (or other qualifying trustee) to pay and discharge, (i) the
principal of (and premium, if any) on and each installment of principal of
(premium, if any) and interest on the Outstanding Securities of such series on
the Stated Maturity of such principal or installment of principal or interest
and (ii) any mandatory sinking fund payments or analogous payments
applicable to the Outstanding Securities of such series on the day on which
such payments are due and payable in accordance with the terms of this
Indenture and of such Securities.  For
this purpose, “U.S. Government Obligations” means securities that are (x) direct
obligations of the United States of America for the payment of which its full
faith and credit is pledged or (y) obligations of a Person controlled or
supervised by and 

 

53

 

acting as an agency or instrumentality of the United
States of America the payment of which is unconditionally guaranteed as a full
faith and credit obligation by the United States of America, which, in either
case, are not callable or redeemable at the option of the issuer thereof, and
shall also include a depository receipt issued by a bank (as defined in section
3(a)(2) of the Securities Act of 1933, as amended from time to time) as
custodian with respect to any such U.S. Government Obligation or a specific
payment of principal of or interest on any such U.S. Government Obligation held
by such custodian for the account of the holder of such depository receipt, provided
that (except as required by law) such custodian is not authorized to make any
deduction from the amount payable to the holder of such depository receipt from
any amount received by the custodian in respect of the U.S. Government
Obligation or the specific payment of principal of or interest on the U.S.
Government Obligation evidenced by such depository receipt;

 

(b)           no
Event of Default with respect to the Securities of such series shall have
occurred and be continuing on the date of such deposit (other than an Event of
Default resulting from borrowing of funds to be applied to such deposit and the
grant of any lien securing such borrowing);

 

(c)           such
defeasance or covenant defeasance shall not cause the Trustee for the
Securities of such series to have a conflicting interest for purposes of the
Trust Indenture Act with respect to any securities of the Company;

 

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

 

(e)           such
defeasance or covenant defeasance shall not cause any Securities of such series
then listed on any registered national securities exchange under the Exchange
Act to be delisted;

 

(f)            in
the case of an election under Section 11.3, 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 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 shall confirm that, the Holders of the
Outstanding Securities of such series will not recognize income, gain or loss
for Federal income tax purposes as a result of such 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;

 

(g)           in
the case of an election under Section 11.4, the Company shall have
delivered to the Trustee an Opinion of Counsel to the effect that the Holders
of the Outstanding Securities of such series will not recognize income, gain or
loss for Federal income tax purposes as a result of such covenant defeasance
and will be subject to Federal income tax on the same amounts, in the same
manner and at the same times as would have been the case if such covenant
defeasance had not occurred;

 

54

 

(h)           such
defeasance or covenant defeasance shall be effected in compliance with any
additional terms, conditions or limitations which may be imposed on the Company
in connection therewith pursuant to Section 2.1; and

 

(i)            the
Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent relating to
either the defeasance under Section 11.3 or the covenant defeasance
under Section 11.4, as the case may be, have been complied with.

 

Section 11.6.          Deposited
Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous
Provisions.

 

(a)           Subject
to the provisions of Section 5.3(e), all money deposited with the
Trustee (or other qualifying trustee, collectively, for purposes of this Section 11.6,
the “Trustee”), all money and U.S. Government Obligations deposited with
the Trustee and all money received by the Trustee in respect of U.S. Government
Obligations deposited with the Trustee, pursuant to Section 11.1 or
11.5, in respect of the Outstanding Securities of such series shall be
held in trust and applied by the Trustee, in accordance with the provisions of
such Securities and this Indenture, to the payment, either directly or through
any Paying Agent (including the Company acting as its own Paying Agent) as the
Trustee may determine, to the Holders of such Securities, of all sums due and
to become due thereon in respect of principal (and premium, if any) and
interest, but such money need not be segregated from other funds except to the
extent required by law.

 

(b)           The
Company shall pay and indemnify the Trustee against any tax, fee or other
charge imposed on or assessed against the U.S. Government Obligations deposited
pursuant to Section 11.5 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 Securities of such series.

 

(c)           Anything
in this Article XI to the contrary notwithstanding, the Trustee
shall deliver or pay to the Company from time to time upon Company Request any
money or U.S. Government Obligations held by it as provided in Section 11.5
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 and pay any
obligations owed or accrued in favor of the Trustee.

 

*     *     *    
*

 

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

 

[The remainder of this page intentionally left
blank; signature pages follow.]

 

55

 

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

 

	
   

  	
  ISSUER:

  
	
   

  	
   

  
	
   

  	
  AFFILIATED
  MANAGERS GROUP, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

[Signature page to
Indenture; continued on next page]

 

 

	
   

  	
  TRUSTEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

[Signature page to
Indenture]

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