Document:

Form of Subordinated Indenture - Florida Power & Light

    Exhibit
      4(bb)

     

    _____________________________________________________

     

    FLORIDA
      POWER & LIGHT COMPANY

    Issuer

     

    TO

     

    The
      Bank of New York,

    Trustee

     

    _________

     

    Indenture

    (For
      Unsecured Subordinated Debt Securities

    relating
      to Trust Securities)

     

    Dated
      as of _______, 20__

     

    

    

    

    

    _____________________________________________________

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    TABLE
      OF
      CONTENTS

    

      
        	
                RECITAL
                  OF THE COMPANY

              	
                1

              
	 	 
	
                ARTICLE
                  ONE Definitions
                  and Other Provisions of General Application

              	
                1

              
	 	 	 	 
	
                SECTION
                  101.

              	
                Definitions

              	
                1

              
	 	
                “Act”

              	
                2

              
	 	
                “Additional
                  Interest”

              	
                2

              
	 	
                “Affiliate”

              	
                2

              
	 	
                “Authenticating
                  Agent”

              	
                2

              
	 	
                “Authorized
                  Officer”

              	
                2

              
	 	
                “Board
                  of Directors”

              	
                2

              
	 	
                “Board
                  Resolution”

              	
                2

              
	 	
                “Business
                  Day”

              	
                3

              
	 	
                “Commission”

              	
                3

              
	 	
                “Common
                  Securities”

              	
                3

              
	 	
                “Company”

              	
                3

              
	 	
                “Company
                  Request” or “Company Order”

              	
                3

              
	 	
                “Corporate
                  Trust Office”

              	
                3

              
	 	
                “Corporation”

              	
                3

              
	 	
                “Defaulted
                  Interest”

              	
                3

              
	 	
                “Discount
                  Security”

              	
                3

              
	 	
                “Dollar”
                  or “$”

              	
                4

              
	 	
                “Eligible
                  Obligations”

              	
                4

              
	 	
                “Event
                  of Default”

              	
                4

              
	 	
                “Exchange
                  Act”

              	
                4

              
	 	
                “Governmental
                  Authority”

              	
                4

              
	 	
                “Government
                  Obligations”

              	
                4

              
	 	
                “Holder”

              	
                5

              
	 	
                “Indenture”

              	
                5

              
	 	
                “Interest
                  Payment Date”

              	
                5

              
	 	
                “Maturity”

              	
                5

              
	 	
                “Notice
                  of Default,”

              	
                5

              
	 	
                “Officer’s
                  Certificate”

              	
                5

              
	 	
                “Opinion
                  of Counsel”

              	
                5

              
	 	
                “Outstanding”

              	
                5

              
	 	
                “Paying
                  Agent”

              	
                6

              
	 	
                “Periodic
                  Offering”

              	
                7

              
	 	
                “Person”

              	
                7

              
	 	
                “Place
                  of Payment,”

              	
                7

              
	 	
                “Predecessor
                  Security”

              	
                7

              
	 	
                “Preferred
                  Securities”

              	
                7

              
	 	
                “Redemption
                  Date”

              	
                7

              
	 	
                “Redemption
                  Price”

              	
                7

              
	 	
                “Regular
                  Record Date”

              	
                7

              
	 	
                “Required
                  Currency”

              	
                7

              
	 	
                “Responsible
                  Officer”

              	
                8

              
	 	
                “Securities”

              	
                8

              
	 	
                “Securities
                  Act”

              	
                8

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                “Security
                  Register” and “Security Registrar”

              	
                8

              
	 	
                “Senior
                  Indebtedness”- to be inserted

              	
                8

              
	 	
                “Special
                  Record Date”

              	
                8

              
	 	
                “Stated
                  Interest Rate”

              	
                8

              
	 	
                “Stated
                  Maturity”

              	
                8

              
	 	
                “Tranche”

              	
                8

              
	 	
                “Trust”

              	
                9

              
	 	
                “Trust
                  Agreement”

              	
                9

              
	 	
                “Trust
                  Indenture Act”

              	
                9

              
	 	
                “Trust
                  Securities Guarantee”

              	
                9

              
	 	
                “Trustee”

              	
                9

              
	 	
                “United
                  States”

              	
                9

              
	
                SECTION
                  102.

              	
                Compliance
                  Certificates and Opinions

              	
                9

              
	
                SECTION
                  103.

              	
                Form
                  of Documents Delivered to Trustee

              	
                10

              
	
                SECTION
                  104.

              	
                Acts
                  of Holders

              	
                11

              
	
                SECTION
                  105.

              	
                Notices,
                  etc. to Trustee and Company

              	
                12

              
	
                SECTION
                  106.

              	
                Notice
                  to Holders of Securities; Waiver

              	
                13

              
	
                SECTION
                  107.

              	
                Conflict
                  with Trust Indenture Act

              	
                13

              
	
                SECTION
                  108.

              	
                Effect
                  of Headings and Table of Contents

              	
                13

              
	
                SECTION
                  109.

              	
                Successors
                  and Assigns

              	
                14

              
	
                SECTION
                  110.

              	
                Separability
                  Clause

              	
                14

              
	
                SECTION
                  111

              	
                Benefits
                  of Indenture

              	
                14

              
	
                SECTION
                  112.

              	
                Governing
                  Law

              	
                14

              
	
                SECTION
                  113.

              	
                Legal
                  Holidays

              	
                14

              
	 	 
	
                ARTICLE
                  TWO Security
                  Forms

              	
                15

              
	 
	
                SECTION
                  201.

              	
                Forms
                  Generally

              	
                15

              
	
                SECTION
                  202.

              	
                Form
                  of Trustee’s Certificate of Authentication

              	
                15

              
	 	 
	
                ARTICLE
                  THREE The
                  Securities

              	
                15

              
	 	 
	
                SECTION
                  301.

              	
                Amount
                  Unlimited; Issuable in Series

              	
                15

              
	
                SECTION
                  302.

              	
                Denominations

              	
                19

              
	
                SECTION
                  303.

              	
                Execution,
                  Authentication, Delivery and Dating

              	
                19

              
	
                SECTION
                  304.

              	
                Temporary
                  Securities

              	
                21

              
	
                SECTION
                  305.

              	
                Registration,
                  Registration of Transfer and Exchange

              	
                22

              
	
                SECTION
                  306.

              	
                Mutilated,
                  Destroyed, Lost and Stolen Securities

              	
                23

              
	
                SECTION
                  307.

              	
                Payment
                  of Interest; Interest Rights Preserved

              	
                23

              
	
                SECTION
                  308.

              	
                Persons
                  Deemed Owners

              	
                24

              
	
                SECTION
                  309.

              	
                Cancellation
                  By Security Registrar

              	
                24

              
	
                SECTION
                  310.

              	
                Computation
                  of Interest

              	
                25

              
	
                SECTION
                  311.

              	
                Payment
                  to Be in Proper Currency

              	
                25

              
	
                SECTION
                  312.

              	
                Extension
                  of Interest Payment

              	
                25

              
	
                SECTION
                  313.

              	
                Additional
                  Interest

              	
                25

              
	 	 
	
                ARTICLE
                  FOUR Redemption
                  Of Securities

              	
                26

              
	 	 
	
                SECTION
                  401.

              	
                Applicability
                  of Article

              	
                26

              
	
                SECTION
                  402.

              	
                Election
                  to Redeem; Notice to Trustee

              	
                26

              
	
                SECTION
                  403.

              	
                Selection
                  of Securities to Be Redeemed

              	
                26

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                SECTION
                  404.

              	
                Notice
                  of Redemption

              	
                27

              
	
                SECTION
                  405.

              	
                Securities
                  Payable on Redemption Date

              	
                28

              
	
                SECTION
                  406.

              	
                Securities
                  Redeemed in Part

              	
                28

              
	 	 	 
	
                ARTICLE
                  FIVE Sinking
                  Funds

              	
                28

              
	 	 
	
                SECTION
                  501.

              	
                Applicability
                  of Article

              	
                28

              
	
                SECTION
                  502.

              	
                Satisfaction
                  of Sinking Fund Payments with Securities

              	
                29

              
	
                SECTION
                  503.

              	
                Redemption
                  of Securities for Sinking Fund

              	
                29

              
	 	 	 
	
                ARTICLE
                  SIX Covenants

              	 
	 	 
	
                SECTION
                  601.

              	
                Payment
                  of Principal, Premium and Interest

              	
                30

              
	
                SECTION
                  602.

              	
                Maintenance
                  of Office or Agency

              	
                30

              
	
                SECTION
                  603.

              	
                Money
                  for Securities Payments to Be Held in Trust

              	
                30

              
	
                SECTION
                  604.

              	
                Corporate
                  Existence

              	
                31

              
	
                SECTION
                  605.

              	
                Maintenance
                  of Properties

              	
                32

              
	
                SECTION
                  606.

              	
                Annual
                  Officer’s Certificate as to Compliance

              	
                32

              
	
                SECTION
                  607.

              	
                Waiver
                  of Certain Covenants

              	
                32

              
	
                SECTION
                  608.

              	
                Restrictions
                  on Dividends and Debt Payments

              	
                32

              
	
                SECTION
                  609.

              	
                Maintenance
                  of Trust Existence

              	
                33

              
	
                SECTION
                  610.

              	
                Rights
                  of Holders of Preferred Securities

              	
                34

              
	 	 	 
	
                ARTICLE
                  SEVEN Satisfaction
                  and Discharge

              	
                34

              
	 	 
	
                SECTION
                  701.

              	
                Satisfaction
                  and Discharge of Securities

              	
                34

              
	
                SECTION
                  702.

              	
                Satisfaction
                  and Discharge of Indenture

              	
                36

              
	
                SECTION
                  703.

              	
                Application
                  of Trust Money

              	
                36

              
	 	 
	
                ARTICLE
                  EIGHT Events
                  of Default; Remedies

              	
                37

              
	 	 
	
                SECTION
                  801.

              	
                Events
                  of Default

              	
                37

              
	
                SECTION
                  802.

              	
                Acceleration
                  of Maturity; Rescission and Annulment

              	
                38

              
	
                SECTION
                  803.

              	
                Collection
                  of Indebtedness and Suits for Enforcement by Trustee

              	
                39

              
	
                SECTION
                  804.

              	
                Trustee
                  May File Proofs of Claim

              	
                40

              
	
                SECTION
                  805.

              	
                Trustee
                  May Enforce Claims Without Possession of Securities

              	
                40

              
	
                SECTION
                  806.

              	
                Application
                  of Money Collected

              	
                41

              
	
                SECTION
                  807.

              	
                Limitation
                  on Suits

              	
                41

              
	
                SECTION
                  808.

              	
                Unconditional
                  Right of Holders to Receive Principal, Premium and
                  Interest

              	
                42

              
	
                SECTION
                  809.

              	
                Restoration
                  of Rights and Remedies

              	
                42

              
	
                SECTION
                  810.

              	
                Rights
                  and Remedies Cumulative

              	
                42

              
	
                SECTION
                  811.

              	
                Delay
                  or Omission Not Waiver

              	
                42

              
	
                SECTION
                  812.

              	
                Control
                  by Holders of Securities

              	
                42

              
	
                SECTION
                  813.

              	
                Waiver
                  of Past Defaults

              	
                43

              
	
                SECTION
                  814.

              	
                Undertaking
                  for Costs

              	
                43

              
	
                SECTION
                  815.

              	
                Waiver
                  of Usury, Stay or Extension Laws

              	
                43

              
	 	 
	
                ARTICLE
                  NINE The
                  Trustee

              	
                44

              
	 	 
	
                SECTION
                  901.

              	
                Certain
                  Duties and Responsibilities

              	
                44

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                SECTION
                  902.

              	
                Notice
                  of Defaults

              	
                45

              
	
                SECTION
                  903.

              	
                Certain
                  Rights of Trustee

              	
                45

              
	
                SECTION
                  904.

              	
                Not
                  Responsible for Recitals or Issuance of Securities

              	
                46

              
	
                SECTION
                  905.

              	
                May
                  Hold Securities

              	
                46

              
	
                SECTION
                  906.

              	
                Money
                  Held in Trust

              	
                46

              
	
                SECTION
                  907.

              	
                Compensation
                  and Reimbursement

              	
                47

              
	
                SECTION
                  908.

              	
                Disqualification;
                  Conflicting Interests

              	
                47

              
	
                SECTION
                  909.

              	
                Corporate
                  Trustee Required; Eligibility

              	
                48

              
	
                SECTION
                  910.

              	
                Resignation
                  and Removal; Appointment of Successor

              	
                48

              
	
                SECTION
                  911.

              	
                Acceptance
                  of Appointment by Successor

              	
                50

              
	
                SECTION
                  912.

              	
                Merger,
                  Conversion, Consolidation or Succession to Business

              	
                51

              
	
                SECTION
                  913.

              	
                Preferential
                  Collection of Claims Against Company

              	
                51

              
	
                SECTION
                  914.

              	
                Co-Trustees
                  and Separate Trustees

              	
                51

              
	
                SECTION
                  915.

              	
                Appointment
                  of Authenticating Agent

              	
                52

              
	 	 	 
	
                ARTICLE
                  TEN  Holders’
                  Lists and Reports by Trustee and Company

              	
                54

              
	 	 	 
	
                SECTION
                  1001.

              	
                Lists
                  of Holders

              	
                54

              
	
                SECTION
                  1002.

              	
                Reports
                  by Trustee and Company

              	
                54

              
	 	 	 
	
                ARTICLE
                  ELEVEN Consolidation,
                  Merger, Conveyance or Other Transfer

              	
                55

              
	 	 
	
                SECTION
                  1101.

              	
                Company
                  May Consolidate, etc., Only on Certain Terms

              	
                55

              
	
                SECTION
                  1102.

              	
                Successor
                  Entity Substituted

              	
                55

              
	
                SECTION
                  1103.

              	
                Limitation

              	
                55

              
	 	 	 
	
                ARTICLE
                  TWELVE Supplemental
                  Indentures

              	
                56

              
	 	 	 
	
                SECTION
                  1201.

              	
                Supplemental
                  Indentures Without Consent of Holders

              	
                56

              
	
                SECTION
                  1202.

              	
                SupplementaL
                  Indentures With Consent of Holders

              	
                57

              
	
                SECTION
                  1203.

              	
                Execution
                  of Supplemental Indentures

              	
                59

              
	
                SECTION
                  1204.

              	
                Effect
                  of Supplemental Indentures

              	
                59

              
	
                SECTION
                  1205.

              	
                Conformity
                  With Trust Indenture Act

              	
                59

              
	
                SECTION
                  1206.

              	
                Reference
                  in Securities to Supplemental Indentures

              	
                59

              
	
                SECTION
                  1207.

              	
                Modification
                  Without Supplemental Indenture

              	
                59

              
	 	 	 
	
                ARTICLE
                  THIRTEEN Meetings
                  of Holders; Action Without Meeting

              	
                60

              
	 	 
	
                SECTION
                  1301.

              	
                Purposes
                  for Which Meetings May Be Called

              	
                60

              
	
                SECTION
                  1302.

              	
                Call,
                  Notice and Place of Meetings

              	
                60

              
	
                SECTION
                  1303.

              	
                Persons
                  Entitled to Vote at Meetings

              	
                60

              
	
                SECTION
                  1304.

              	
                Quorum;
                  Action

              	
                61

              
	
                SECTION
                  1305.

              	
                Attendance
                  at Meetings; Determination of Voting Rights; Conduct and Adjournment
                  of
                  Meetings

              	
                61

              
	
                SECTION
                  1306.

              	
                Counting
                  Votes And Recording Action of Meetings

              	
                62

              
	
                SECTION
                  1307.

              	
                Action
                  Without Meeting

              	
                63

              
	 	 	 	 
	
                ARTICLE
                  FOURTEEN Subordination
                  of Securities

              	
                63

              
	 	 
	
                SECTION
                  1401.

              	
                Securities
                  Subordinate to Senior Indebtedness of the Company

              	
                63

              
	
                SECTION
                  1402.

              	
                Payment
                  Over of Proceeds of Securities

              	
                63

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                SECTION
                  1403.

              	
                Disputes
                  with Holders of Certain Senior Indebtedness

              	
                64

              
	
                SECTION
                  1404.

              	
                Subrogation

              	
                65

              
	
                SECTION
                  1405.

              	
                Obligation
                  of the Company Unconditional

              	
                65

              
	
                SECTION
                  1406.

              	
                Priority
                  of Senior Indebtedness Upon Maturity

              	
                66

              
	
                SECTION
                  1407.

              	
                Trustee
                  as Holder of Senior Indebtedness

              	
                66

              
	
                SECTION
                  1408.

              	
                Notice
                  to Trustee to Effectuate Subordination

              	
                66

              
	
                SECTION
                  1409.

              	
                Modification,
                  Extension, etc. of Senior Indebtedness

              	
                67

              
	
                SECTION
                  1410.

              	
                Trustee
                  Has No Fiduciary Duty to Holders of Senior Indebtedness

              	
                67

              
	
                SECTION
                  1411.

              	
                Paying
                  Agents Other Than the Trustee

              	
                67

              
	
                SECTION
                  1412.

              	
                Rights
                  of Holders of Senior Indebtedness Not Impaired

              	
                67

              
	
                SECTION
                  1413.

              	
                Effect
                  of Subordination Provisions; Termination

              	
                67

              
	 	 	 
	
                ARTICLE
                  FIFTEEN Immunity
                  of Incorporators, Stockholders, Officers and Directors

              	
                68

              
	 	 	 
	
                SECTION
                  1501.

              	
                Liability
                  Solely Corporate

              	
                68

              

      

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

      

        FLORIDA
          POWER & LIGHT COMPANY

         

        Reconciliation
          and tie between Trust Indenture Act of 1939

        and
          Indenture, dated as of ________, 20__

         

        
          	
                  Trust
                    Indenture Act Section

                   

                	
                  Indenture
                    Section

                   

                
	
                  §310

                	
                  (a)(1)

                	
                  909

                
	 	
                  (a)(2)

                	
                  909

                
	 	
                  (a)(3)

                	
                  914(b)

                
	 	
                  (a)(4)

                	
                  Not
                    Applicable

                
	 	
                  (b)

                	
                  908

                
	 	 	
                  910

                
	
                  §311

                	
                  (a)

                	
                  913

                
	 	
                  (b)

                	
                  913

                
	 	
                  (c)

                	
                  913

                
	
                  §312

                	
                  (a)

                	
                  1001

                
	 	
                  (b)

                	
                  1001

                
	 	
                  (c)

                	
                  1001

                
	
                  §313

                	
                  (a)

                	
                  1002

                
	 	
                  (b)

                	
                  1002

                
	 	
                  (c)

                	
                  1002

                
	 	
                  (d)

                	
                  1002

                
	
                  §314

                	
                  (a)

                	
                  1002

                
	 	
                  (a)(4)

                	
                  606

                
	 	
                  (b)

                	
                  Not
                    Applicable

                
	 	
                  (c)(1)

                	
                  102

                
	 	
                  (c)(2)

                	
                  102

                
	 	
                  (c)(3)

                	
                  Not
                    Applicable

                
	 	
                  (d)

                	
                  Not
                    Applicable

                
	 	
                  (e)

                	
                  102

                
	
                  §315

                	
                  (a)

                	
                  901

                
	 	 	
                  903

                
	 	
                  (b)

                	
                  902

                
	 	
                  (c)

                	
                  901

                
	 	
                  (d)

                	
                  901

                
	 	
                  (e)

                	
                  814

                
	
                  §316

                	
                  (a)

                	
                  812

                
	 	 	
                  813

                
	 	
                  (a)(1)(A)

                	
                  802

                
	 	 	
                  812

                
	 	
                  (a)(1)(B)

                	
                  813

                
	 	
                  (a)(2)

                	
                  Not
                    Applicable

                
	 	
                  (b)

                	
                  808

                
	
                  §317

                	
                  (a)(1)

                	
                  803

                
	 	
                  (a)(2)

                	
                  804

                
	 	
                  (b)

                	
                  603

                
	
                  §318

                	
                  (a)

                	
                  107

                
	 	 	 
	
                  Note:

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

                

        

      

      
 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SUBORDINATED
      INDENTURE,
      dated
      as of _______, 20__, between FLORIDA POWER & LIGHT
      COMPANY,
      a
      corporation duly organized and existing under the laws of the State of Florida
      (herein called the “Company”), having its principal office at 700 Universe
      Boulevard, Juno Beach, Florida 33408, and THE
      BANK OF NEW YORK,
      a New
      York banking corporation having its principal corporate trust office at 101
      Barclay Street, Floor 8W, New York, New York 10286, as Trustee (herein called
      the “Trustee”).

     

    RECITAL
      OF THE COMPANY

     

    The
      Company has duly authorized the execution and delivery of this Indenture to
      provide for the issuance from time to time of its unsecured subordinated
      debentures, notes or other evidences of indebtedness (herein called the
“Securities”), in an unlimited aggregate principal amount to be issued in one or
      more series as contemplated herein; and all acts necessary to make this
      Indenture a valid agreement of the Company, in accordance with its terms, have
      been performed.

     

    For
      all
      purposes of this Indenture, except as otherwise expressly provided or unless
      the
      context otherwise requires, capitalized terms used herein shall have the
      meanings assigned to them in Article One of this Indenture.

     

    NOW,
      THEREFORE, THIS INDENTURE WITNESSETH:

     

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

     

    ARTICLE
      ONE

     

    Definitions
      and Other Provisions of General Application

     

    
      	
              SECTION
                101. 

            	
              Definitions.

            

    

     

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

     

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

     

    (b)    all
      terms
      used herein without definition which are defined in the Trust Indenture Act,
      either directly or by reference therein, have the meanings assigned to them
      therein;

     

    (c)    all
      accounting terms not otherwise defined herein have the meanings assigned to
      them
      in accordance with generally accepted accounting principles in the United
      States, and, except as otherwise herein expressly provided, the term “generally
      accepted accounting principles” with respect to any computation required or
      permitted hereunder shall mean such accounting principles as are generally
      accepted in the United States at the date of such computation or, at the
      election of the Company from time to time, at the date of the execution and
      delivery of this Indenture; provided, however, that in determining generally
      accepted accounting principles applicable to the Company, the Company shall,
      to
      the extent required, conform to any order, rule or regulation of any
      administrative agency, regulatory authority or other governmental body having
      jurisdiction over the Company;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (d)    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

     

    (e)    unless
      the context otherwise requires, any reference to an “Article” or a “Section”
refers to an Article or a Section, as the case may be, of this
      Indenture.

     

    Certain
      terms, used principally in Article Nine, are defined in that
      Article.

     

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

     

    “Additional
      Interest” has
      the
      meaning specified in Section 313.

     

    “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 (other than the Company or an Affiliate of the Company) authorized by
      the
      Trustee pursuant to Section 915 to act on behalf of the Trustee to authenticate
      one or more series of Securities.

     

    “Authorized
      Officer” means
      the
      Chairman of the Board, the President, any Vice President, the Treasurer, any
      Assistant Treasurer, the Secretary, any Assistant Secretary or any other officer
      or agent of the Company duly authorized by the Board of Directors to act in
      respect of matters relating to this Indenture.

     

    “Board
      of Directors” means
      either the board of directors of the Company or any committee of that board
      duly
      authorized to act in respect of matters relating to this Indenture, or the
      equivalent governing body of an entity, or any committee, corporation,
      individual or group of individuals duly authorized to act for such entity in
      respect of matters relating to this Indenture.

     

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

     

    “Business
      Day,” when
      used
      with respect to a Place of Payment or any other particular location specified
      in
      the Securities or this Indenture, means any day, other than a Saturday or
      Sunday, which is not a day on which banking institutions or trust companies
      in
      such Place of Payment or other location are generally authorized or required
      by
      law, regulation or executive order to remain closed, except as may be otherwise
      specified as contemplated by Section 301.

     

    “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 date of execution and
      delivery of this Indenture such Commission is not existing and performing the
      duties now assigned to it under the Trust Indenture Act, then the body, if
      any,
      performing such duties at such time.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    “Common
      Securities” means
      any
      common trust interests issued by a Trust or similar securities issued by
      permitted successors to such Trust in accordance with the Trust Agreement
      pertaining to such Trust.

     

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

     

    “Company
      Request”
      or “Company Order” means
      a
      written request or order signed in the name of the Company by an Authorized
      Officer and delivered to the Trustee.

     

    “Corporate
      Trust Office” means
      the
      corporate trust office of the Trustee at which, at any particular time, its
      corporate trust business shall be principally administered, which office at
      the
      date hereof is located at 101 Barclay Street, 8W, New York, New York
      10286.

     

    “Corporation”
      means
      a
      corporation, association, bank, company, limited liability company, joint stock
      company, statutory trust, or other business entity, and references to
“corporate” and other derivations of “corporation” herein shall be deemed to
      include appropriate derivations of such entities.

     

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

     

    “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 802. The term “interest”
with
      respect to a Discount Security means interest, if any, borne by such Security
      at
      a Stated Interest Rate.

     

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

     

    “Eligible
      Obligations” means:

     

    (a)    with
      respect to Securities denominated in Dollars, Government Obligations;
      or

     

    (b)    with
      respect to Securities denominated in a currency other than Dollars or in a
      composite currency, such other obligations or instruments as shall be specified
      with respect to such Securities, as contemplated by Section 301.

     

    “Event
      of Default” has
      the
      meaning specified in Section 801.

     

    “Exchange
      Act” means
      the
      Securities Exchange Act of 1934 and the rules and regulations promulgated
      thereunder, as amended from time to time, or any successor
      legislation.

     

    “Governmental
      Authority” means
      the
      government of the United States or of any State or Territory thereof or of
      the
      District of Columbia or of any county, municipality or other political
      subdivision of any of the foregoing, or any department, agency, authority or
      other instrumentality of any of the foregoing.

     

    “Government
      Obligations” means:

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (a)    direct
      obligations of, or obligations the principal of and interest on which are
      unconditionally guaranteed by, the United States and entitled to the benefit
      of
      the full faith and credit thereof; and

     

    (b)    certificates,
      depositary receipts or other instruments which evidence a direct ownership
      interest in obligations described in clause (a) above or in any specific
      interest or principal payments due in respect thereof; provided, however, that
      the custodian of such obligations or specific interest or principal payments
      shall be a bank or trust company (which may include the Trustee or any Paying
      Agent) subject to Federal or state supervision or examination with a combined
      capital and surplus of at least $50,000,000; and provided, further, that except
      as may be otherwise required by law, such custodian shall be obligated to pay
      to
      the holders of such certificates, depositary receipts or other instruments
      the
      full amount received by such custodian in respect of such obligations or
      specific payments and shall not be permitted to make any deduction
      therefrom.

     

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

     

    “Indenture”
      means
      this instrument as originally executed and delivered and as it may from time
      to
      time be supplemented or amended by one or more indentures or other instruments
      supplemental hereto entered into pursuant to the applicable provisions hereof,
      including, for all purposes of this instrument and any such supplemental
      indenture or other instrument, the provisions of the Trust Indenture Act that
      are deemed to be a part of and govern this Indenture and any such supplemental
      indenture or such other instrument, respectively. The term “Indenture” shall
      also include the terms of particular series of Securities established as
      contemplated by Section 301.

     

    “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 provided
      in
      such Security or in this Indenture, whether at the Stated Maturity, by
      declaration of acceleration, upon call for redemption or otherwise.

     

    “Notice
      of Default,” means
      a
      written notice of the kind specified in Section 801(c).

     

    “Officer’s
      Certificate” means
      a
      certificate signed by an Authorized Officer, and delivered to the Trustee.
      

     

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

     

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

     

    (a)    Securities
      theretofore canceled or delivered to the Security Registrar for
      cancellation;

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (b)    Securities
      deemed to have been paid for all purposes of this Indenture in accordance with
      Section 701 (whether or not the Company’s indebtedness in respect thereof shall
      be satisfied and discharged for any other purpose); and

     

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

     

    provided,
      however, that in determining whether or not the Holders of the requisite
      principal amount of the Securities Outstanding under this Indenture, or the
      Outstanding Securities of any series or Tranche, have given any request, demand,
      authorization, direction, notice, consent or waiver hereunder or whether or
      not
      a quorum is present at a meeting of Holders of Securities,

     

    (x)    Securities
      owned by the Company or any other obligor upon the Securities or any Affiliate
      of the Company or of such other obligor (unless the Company, such Affiliate
      or
      such obligor owns all Securities Outstanding under this Indenture, or all
      Outstanding Securities of each such series and each such Tranche, as the case
      may be, determined without regard to this clause (x)) 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 or upon any such determination as to the
      presence of a quorum, only Securities which the Trustee knows to be so owned
      shall be so disregarded; provided, however, that Securities so owned which
      have
      been pledged in good faith may be regarded as Outstanding if the pledgee
      establishes to the satisfaction of the Trustee the pledgee’s right so to act
      with respect to such Securities and that the pledgee is not the Company or
      any
      other obligor upon the Securities or any Affiliate of the Company or of such
      other obligor;

     

    (y)    the
      principal amount of a Discount Security that shall be deemed to be Outstanding
      for such purposes shall be the amount of the principal thereof that would be
      due
      and payable as of the date of such determination upon a declaration of
      acceleration of the Maturity thereof pursuant to Section 802; and

     

    (z)    the
      principal amount of any Security which is denominated in a currency other than
      Dollars or in a composite currency that shall be deemed to be Outstanding for
      such purposes shall be the amount of Dollars which could have been purchased
      by
      the principal amount (or, in the case of a Discount Security, the Dollar
      equivalent on the date determined as set forth below of the amount determined
      as
      provided in (y) above) of such currency or composite currency evidenced by
      such
      Security, in each such case certified to the Trustee in an Officer’s
      Certificate, based (i) on the average of the mean of the buying and selling
      spot
      rates quoted by three banks which are members of the New York Clearing House
      Association selected by the Company in effect at 11:00 A.M. (New York time)
      in
      The City of New York on the fifth Business Day preceding any such determination
      or (ii) if on such fifth Business Day it shall not be possible or practicable
      to
      obtain such quotations from such three banks, on such other quotations or
      alternative methods of determination which shall be as consistent as practicable
      with the method set forth in (i) above;

     

    provided,
      further, that, in the case of any Security the principal of which is payable
      from time to time without presentment or surrender, the principal amount of
      such
      Security that shall be deemed to be 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    Outstanding
      at any time for all purposes of this Indenture shall be the original principal
      amount thereof less the aggregate amount of principal thereof theretofore
      paid.

     

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

     

    “Periodic
      Offering” means
      an
      offering of Securities of a series from time to time any or all of the specific
      terms of which Securities, including without limitation the rate or rates of
      interest or formula for determining the rate or rates of interest, if any,
      thereon, the Stated Maturity or Maturities thereof and the redemption
      provisions, if any, with respect thereto, are to be determined by the Company
      or
      its agents upon the issuance of such Securities.

     

    “Person”
      means
      a
      legal person, including any individual, Corporation, estate, partnership, joint
      venture, unincorporated association or government, or any agency or political
      subdivision thereof or any other entity of whatever nature.

     

    “Place
      of Payment,” when
      used
      with respect to the Securities of any series, or any Tranche thereof, means
      the
      place or places, specified as contemplated by Section 301, at which, subject
      to
      Section 602, principal of and premium, if any, and interest, if any, on the
      Securities of such series or Tranche are payable.

     

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

     

    “Preferred
      Securities” means
      any
      preferred trust interests issued by a Trust or similar securities issued by
      permitted successors to such Trust in accordance with the Trust Agreement
      pertaining to such Trust.

     

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

     

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

     

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

     

    “Required
      Currency” has
      the
      meaning specified in Section 311.

     

    “Responsible
      Officer,” when
      used
      with respect to the Trustee, means any vice-president, any assistant
      vice-president, any assistant secretary, any assistant treasurer, any trust
      officer or any other officer of the Trustee customarily performing functions
      similar to those performed by any of the above designated officers and also
      means, with respect to a particular corporate trust matter, any other officer
      to
      whom such matter is referred because of that officer’s knowledge of and
      familiarity with the particular subject and who shall have direct responsibility
      for the administration of this Indenture.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

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

     

    “Securities
      Act” means
      the
      Securities Act of 1933, and the rules and regulations promulgated thereunder,
      as
      amended from time to time, or any successor legislation.

     

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

     

    “Senior
      Indebtedness”
      - to be inserted

     

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

     

    “Stated
      Interest Rate” means
      a
      rate (whether fixed or variable) at which an obligation by its terms is stated
      to bear simple interest. Any calculation or other determination to be made
      under
      this Indenture by reference to the Stated Interest Rate on a Security shall
      be
      made without regard to the effective interest cost to the Company of such
      Security and without regard to the Stated Interest Rate on, or the effective
      cost to the Company of, any other indebtedness in respect of which the Company’s
      obligations are evidenced or secured in whole or in part by such
      Security.

     

    “Stated
      Maturity,”
      when
      used
      with respect to any Security or any obligation or any installment of principal
      thereof or interest thereon, means the date on which the principal of such
      obligation or such installment of principal or interest is stated in such
      Security to be due and payable (without regard to any provisions for redemption,
      prepayment, acceleration, purchase or extension).

     

    “Tranche”
      means
      a
      group of Securities which (a) are of the same series and (b) have identical
      terms except as to principal amount and/or date of issuance.

     

    “Trust”
      means
      Florida Power & Light Company Trust __, a statutory trust formed under the
      laws of the State of Delaware, or any other trust designated pursuant to Section
      301 hereof or any permitted successor under the Trust Agreement pertaining
      to
      such Trust.

     

    “Trust
      Agreement” means
      the
      Amended and Restated Trust Agreement, dated as of _________, 20__, relating
      to
      Florida Power & Light Company Trust __, or an Amended and Restated Trust
      Agreement relating to a Trust designated pursuant to Section 301 hereof, in
      each
      case, among Florida Power & Light Company, as Depositor, the trustees named
      therein and the several holders referred to therein, as such agreement or
      agreements, as the case may be, may be amended from time to time.

     

    “Trust
      Indenture Act” means,
      as
      of any time, the Trust Indenture Act of 1939, as amended, or any successor
      statute, as in effect at such time.

     

    “Trust
      Securities Guarantee” means
      the
      Preferred Trust Securities Guarantee Agreement between Florida Power & Light
      Company, as guarantor, and a guarantee trustee for the benefit of the holders
      of
      Preferred Securities issued by such Trust.

     

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

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    Person,
      “Trustee” as used with respect to the Securities of any series shall mean the
      Trustee with respect to Securities of that series.

     

    “United
      States” means
      the
      United States of America, its Territories, its possessions and other areas
      subject to its political jurisdiction.

     

    
      	
              SECTION
                102. 

            	
              Compliance
                Certificates and Opinions.

            

    

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      	
              SECTION
                103. 

            	
              Form
                of Documents Delivered to
                Trustee.

            

    

     

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

     

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

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    Where
      (i)
      any Person is required to make, give or execute two or more applications,
      requests, consents, certificates, statements, opinions or other instruments
      under this Indenture, or (ii) two or more Persons are each required to make,
      give or execute any such application, request, consent, certificate, statement,
      opinion or other instrument under this Indenture, any such applications,
      requests, consents, certificates, statements, opinions or other instruments
      may,
      but need not, be consolidated and form one instrument.

     

    Whenever,
      subsequent to the receipt by the Trustee of any Board Resolution, Officer’s
      Certificate, Opinion of Counsel or other document or instrument, a clerical,
      typographical or other inadvertent or unintentional error or omission shall
      be
      discovered therein, a new document or instrument may be substituted therefor
      in
      corrected form with the same force and effect as if originally filed in the
      corrected form and, irrespective of the date or dates of the actual execution
      and/or delivery thereof, such substitute document or instrument shall be deemed
      to have been executed and/or delivered as of the date or dates required with
      respect to the document or instrument for which it is substituted. Anything
      in
      this Indenture to the contrary notwithstanding, if any such corrective document
      or instrument indicates that action has been taken by or at the request of
      the
      Company which could not have been taken had the original document or instrument
      not contained such error or omission, the action so taken shall not be
      invalidated or otherwise rendered ineffective but shall be and remain in full
      force and effect, except to the extent that such action was a result of willful
      misconduct or bad faith. Without limiting the generality of the foregoing,
      any
      Securities issued under the authority of such defective document or instrument
      shall nevertheless be the valid obligations of the Company entitled to the
      benefits of this Indenture equally and ratably with all other Outstanding
      Securities, except as aforesaid.

     

    
      	
              SECTION
                104. 

            	
              Acts
                of Holders.

            

    

     

    (a)    Any
      request, demand, authorization, direction, notice, consent, election, waiver
      or
      other action provided by this Indenture to be made, 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 or, alternatively, may be embodied in and evidenced by the record of
      Holders voting in favor thereof, either in person or by proxies duly appointed
      in writing, at any meeting of Holders duly called and held in accordance with
      the provisions of Article Thirteen, or a combination of such instruments and
      any
      such record. Except as herein otherwise expressly provided, such action shall
      become effective when such instrument or instruments or record or both are
      delivered to the Trustee and, where it is hereby expressly required, to the
      Company. Such instrument or instruments and any such record (and the action
      embodied therein and evidenced thereby) are herein sometimes referred to as
      the
“Act” of the Holders signing such instrument or instruments and so voting at any
      such meeting. Proof of execution of any such instrument or of a writing
      appointing any such agent, or of the holding by any Person of a Security, shall
      be sufficient for any purpose of this Indenture and (subject to Section 901)
      conclusive in favor of the Trustee and the Company, if made in the manner
      provided in this Section. The record of any meeting of Holders shall be proved
      in the manner provided in Section 1306.

     

    (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 or may be proved in any other manner
      which the Trustee and the Company deem sufficient. 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.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    (c)    The
      principal amount (except as otherwise contemplated in clause (y) of the first
      proviso to the definition of Outstanding) and serial numbers of Securities
      held
      by any Person, and the date of holding the same, shall be proved by the Security
      Register;

     

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

     

    (e)    Until
      such time as written instruments shall have been delivered to the Trustee with
      respect to the requisite percentage of principal amount of Securities for the
      action contemplated by such instruments, any such instrument executed and
      delivered by or on behalf of a Holder may be revoked with respect to any or
      all
      of such Securities by written notice by such Holder or any subsequent Holder,
      proven in the manner in which such instrument was proven.

     

    (f)    Securities
      of any series, or any Tranche thereof, authenticated and delivered after any
      Act
      of Holders may, and shall if required by the Trustee, bear a notation in form
      approved by the Trustee as to any action taken by such Act of Holders. If the
      Company shall so determine, new Securities of any series, or any Tranche
      thereof, so modified as to conform, in the opinion of the Trustee and the
      Company, to such action may be prepared and executed by the Company and
      authenticated and delivered by the Trustee in exchange for Outstanding
      Securities of such series or Tranche.

     

    (g)    If
      the
      Company shall solicit from Holders any request, demand, authorization,
      direction, notice, consent, waiver or other Act, the Company may, at its option,
      by Company Order, fix in advance a record date for the determination of Holders
      entitled to give such request, demand, authorization, direction, notice,
      consent, waiver or other Act, but the Company shall have no obligation to do
      so.
      If such a record date is fixed, such request, demand, authorization, direction,
      notice, consent, waiver or other Act may be given before or after such record
      date, but only the Holders of record at the close of business on the record
      date
      shall be deemed to be Holders for the purposes of determining whether Holders
      of
      the requisite proportion of the Outstanding Securities have authorized or agreed
      or consented to such request, demand, authorization, direction, notice, consent,
      waiver or other Act, and for that purpose the Outstanding Securities shall
      be
      computed as of the record date. Any such Act, given as aforesaid, shall be
      effective whether or not the Holders which authorized or agreed or consented
      to
      such Act remain Holders after such record date and whether or not the Securities
      held by such Holders remain Outstanding after such record date.

     

    
      	
              SECTION
                105. 

            	
              Notices,
                etc. to Trustee and
                Company.

            

    

     

    Any
      request, demand, authorization, direction, notice, consent, election, waiver
      or
      Act of Holders or other document provided or permitted by this Indenture to
      be
      made upon, given or furnished to, or filed with, the Trustee by any Holder
      or by
      the Company, or 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 delivered personally to an officer or other responsible employee
      of
      the addressee, or transmitted by facsimile transmission or other direct written
      electronic means to such telephone number or other electronic communications
      address as the parties hereto shall from time to time designate, or transmitted
      by registered mail, charges prepaid, to the applicable address set opposite
      such
      party’s name below or to such other address as such party hereto may from time
      to time designate:

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    If
      to the
      Trustee, to:

     

    The
      Bank
      of New York

    101
      Barclay Street, Floor 8W

    New
      York,
      New York 10286

     

    Attention:
      

    Telephone:

    Facsimile:
      

     

    With
      a
      copy to:

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

    10161
      Centurion Parkway 

    Jacksonville,
      FL 32256

     

    Attention:
      

    Telephone:

    Facsimile:
      

     

    If
      to the
      Company, to:

     

    Florida
      Power & Light Company

    700
      Universe Boulevard

    Juno
      Beach, Florida 33408

     

    Attention:
      Treasurer

    Telephone:
      

    Facsimile:
      

     

    Any
      communication contemplated herein shall be deemed to have been made, given,
      furnished and filed if personally delivered, on the date of delivery, if
      transmitted by facsimile transmission or other direct written electronic means,
      on the date of transmission, and if transmitted by registered mail, on the
      date
      of receipt.

     

    
      	
              SECTION
                106. 

            	
              Notice
                to Holders of Securities;
                Waiver.

            

    

     

    Except
      as
      otherwise expressly provided herein, where this Indenture provides for notice
      to
      Holders of any event, such notice shall be sufficiently given, and shall be
      deemed given, to Holders if in writing and mailed, first-class postage prepaid,
      to each Holder affected by such event, at the address of such Holder 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
      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 to Holders by mail, then
      such notification as shall be made with the approval of the Trustee shall
      constitute a sufficient notification for every purpose hereunder. In 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.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    Any
      notice required by this Indenture may be waived in writing by the Person
      entitled to receive such notice, either before or after the event otherwise
      to
      be specified therein, and such waiver shall be the equivalent of such notice.
      Waivers of notice by Holders shall be filed with the Trustee, but such filing
      shall not be a condition precedent to the validity of any action taken in
      reliance upon such waiver.

     

    
      	
              SECTION
                107. 

            	
              Conflict
                with Trust Indenture Act.

            

    

     

    If
      any
      provision of this Indenture limits, qualifies or conflicts with another
      provision hereof which is required or deemed to be included in this Indenture
      by, or is otherwise governed by, any of the provisions of the Trust Indenture
      Act, such other provision shall control; and if any provision hereof otherwise
      conflicts with the Trust Indenture Act, the Trust Indenture Act shall
      control.

     

    
      	
              SECTION
                108. 

            	
              Effect
                of Headings and Table of
                Contents.

            

    

     

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

     

    
      	
              SECTION
                109. 

            	
              Successors
                and Assigns.

            

    

     

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

     

    
      	
              SECTION
                110. 

            	
              Separability
                Clause.

            

    

     

    In
      case
      any provision in this Indenture or the Securities shall be held to 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
                111. 

            	
              Benefits
                of Indenture.

            

    

     

    Nothing
      in this Indenture or the Securities, express or implied, shall give to any
      Person, other than the parties hereto, their successors hereunder, the Holders
      and, so long as the notice described in Section 1413 hereof has not been given,
      the holders of Senior Indebtedness, any benefit or any legal or equitable right,
      remedy or claim under this Indenture, provided, however, that for so long as
      any
      Preferred Securities remain outstanding, the holders of such Preferred
      Securities, subject to certain limitations set forth in this Indenture, may
      enforce the Company’s obligations hereunder, directly against the Company, as
      third party beneficiaries of this Indenture without proceeding against the
      Trust
      issuing such Preferred Securities.

     

    
      	
              SECTION
                112. 

            	
              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 regard to conflict of laws
      principles thereunder, except to the extent that the law of any other
      jurisdiction shall be mandatorily applicable.

     

    
      	
              SECTION
                113. 

            	
              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
      other than a provision in Securities of any series, or any Tranche 

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    thereof,
      or in an indenture supplemental hereto, or in the Board Resolution or Officer’s
      Certificate which establishes the terms of the Securities of such series or
      Tranche, which specifically states that such provision shall apply in lieu
      of
      this Section) 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, except that if such Business
      Day is in the next succeeding calendar year, such payment shall be made on
      the
      immediately preceding Business Day, in each case with the same force and effect,
      and in the same amount, as if made on the Interest Payment Date or Redemption
      Date, or at the Stated Maturity, as the case may be, and, if such payment is
      made or duly provided for on such Business Day, no interest shall accrue on
      the
      amount so payable for the period from and after such Interest Payment Date,
      Redemption Date or Stated Maturity, as the case may be, to such Business
      Day.

     

    ARTICLE
      TWO

     

    Security
      Forms

     

    
      	
              SECTION
                201. 

            	
              Forms
                Generally.

            

    

     

    The
      definitive Securities of each series shall be in substantially the form or
      forms
      thereof established in the indenture supplemental hereto establishing such
      series or in a Board Resolution establishing such series, or in an Officer’s
      Certificate pursuant to such supplemental indenture or Board Resolution, in
      each
      case with such appropriate terms, insertions, omissions, substitutions and
      other
      variations as are required or permitted by this Indenture, and may have such
      letters, numbers or other marks of identification and such legends or
      endorsements placed thereon as may be required to comply with the rules of
      any
      securities exchange or as may, consistently herewith, be determined by the
      officers executing such Securities, as evidenced by their execution thereof.
      If
      the form or forms of Securities of any series are established in a Board
      Resolution or in an Officer’s Certificate pursuant to a Board Resolution, such
      Board Resolution and Officer’s Certificate, if any, shall be delivered to the
      Trustee at or prior to the delivery of the Company Order contemplated by Section
      303 for the authentication and delivery of such Securities.

     

    Unless
      otherwise specified as contemplated by Sections 301 or 1201(g), the Securities
      of each series shall be issuable in registered form without coupons. The
      definitive Securities shall be produced in such manner as shall be determined
      by
      the officers executing such Securities, as evidenced by their execution
      thereof.

     

    
      	
              SECTION
                202. 

            	
              Form
                of Trustee’s Certificate of
                Authentication.

            

    

     

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

     

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

     

    
      
        
          	
                	
                  THE BANK OF NEW YORK, as Trustee

                   

                
	
                	By:	 
	 	 	
                  Authorized
                    Signatory

                

           

        

      

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    ARTICLE
      THREE

     

    The
      Securities

     

    
      	
              SECTION
                301. 

            	
              Amount
                Unlimited; Issuable in
                Series.

            

    

     

    The
      aggregate principal amount of Securities which may be authenticated and
      delivered under this Indenture is unlimited; provided, however, that all
      Securities shall be issued to a Trust to evidence the acquisition of Securities
      by a Trust with the proceeds of the issuance of Preferred Securities and Common
      Securities of such Trust.

     

    The
      Securities may be issued in one or more series. Subject to the last paragraph
      of
      this Section, prior to the authentication and delivery of Securities of any
      series there shall be established by specification in a supplemental indenture
      or in a Board Resolution, or in an Officer’s Certificate (which need not comply
      with Section 102) pursuant to a supplemental indenture or a Board
      Resolution:

     

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

     

    (b)    any
      limit
      upon the aggregate principal amount of the Securities of such 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 such series pursuant to Section 304,
      305, 306, 406 or 1206 and, except for any Securities which, pursuant to Section
      303, are deemed never to have been authenticated and delivered
      hereunder);

     

    (c)    the
      Person or Persons (without specific identification) to whom interest on
      Securities of such series, or any Tranche thereof, shall be payable on any
      Interest Payment Date, if other than the Persons in whose names such Securities
      (or one or more Predecessor Securities) are registered at the close of business
      on the Regular Record Date for such interest;

     

    (d)    the
      date
      or dates on which the principal of the Securities of such series or any Tranche
      thereof, is payable or any formulary or other method or other means by which
      such date or dates shall be determined, by reference to an index or other fact
      or event ascertainable outside of this Indenture or otherwise (without regard
      to
      any provisions for redemption, prepayment, acceleration, purchase or
      extension);

     

    (e)    the
      rate
      or rates at which the Securities of such series, or any Tranche thereof, shall
      bear interest, if any (including the rate or rates at which overdue principal
      shall bear interest, if different from the rate or rates at which such
      Securities shall bear interest prior to Maturity, and, if applicable, the rate
      or rates at which overdue premium or interest shall bear interest, if any),
      or
      any formulary or other method or other means by which such rate or rates shall
      be determined, by reference to an index or other fact or event ascertainable
      outside of this Indenture or otherwise; 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, if any, for the interest payable on
      such
      Securities on any Interest Payment Date; the right of the Company, if any,
      to
      extend the interest payment periods and the duration of any such extension
      as
      contemplated by Section 312; and the basis of computation of interest, if other
      than as provided in Section 310;

     

    (f)    the
      place
      or places at which or methods (if other than as provided elsewhere in this
      Indenture) by which (1) the principal of and premium, if any, and interest,
      if
      any, on 

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    Securities
      of such series, or any Tranche thereof, shall be payable, (2) registration
      of
      transfer of Securities of such series, or any Tranche thereof, may be effected,
      (3) exchanges of Securities of such series, or any Tranche thereof, may be
      effected and (4) notices and demands to or upon the Company in respect of the
      Securities of such series, or any Tranche thereof, and this Indenture may be
      served; the Security Registrar and any Paying Agent or Agents for such series
      or
      Tranche; and if such is the case, that the principal of such Securities shall
      be
      payable without presentment or surrender thereof;

     

    (g)    the
      period or periods within which, or the date or dates on which, the price or
      prices at which and the terms and conditions upon which the Securities of such
      series, or any Tranche thereof, may be redeemed, in whole or in part, at the
      option of the Company and any restrictions on such redemptions, including but
      not limited to a restriction on a partial redemption by the Company of the
      Securities of any series, or any Tranche thereof, resulting in delisting of
      such
      Securities from any national exchange, the Nasdaq national market or such other
      interdealer quotation system or self-regulatory organization upon which
      Securities are listed or traded;

     

    (h)    the
      obligation or obligations, if any, of the Company to redeem or purchase or
      repay
      the Securities of such series, or any Tranche thereof, pursuant to any sinking
      fund or other mandatory redemption provisions or at the option of a Holder
      thereof and the period or periods within which or the date or dates on which,
      the price or prices at which and the terms and conditions upon which such
      Securities shall be redeemed or purchased or repaid, in whole or in part,
      pursuant to such obligation, and applicable exceptions to the requirements
      of
      Section 404 in the case of mandatory redemption or redemption or repayment
      at
      the option of the Holder;

     

    (i)    the
      denominations in which Securities of such series, or any Tranche thereof, shall
      be issuable if other than denominations of [$1,000] [$25] and any integral
      multiple thereof;

     

    (j)    the
      currency or currencies, including composite currencies, in which payment of
      the
      principal of and premium, if any, and interest, if any, on the Securities of
      such series, or any Tranche thereof, shall be payable (if other than in Dollars)
      and the manner in which the equivalent of the principal amount thereof in
      Dollars is to be determined for any purpose, including for the purpose of
      determining the principal amount deemed to be Outstanding at any
      time;

     

    (k)    if
      the
      principal of or premium, if any, or interest, if any, on the Securities of
      such
      series, or any Tranche thereof, are to be payable, at the election of the
      Company or a Holder thereof, in a coin or currency 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;

     

    (l)    if
      the
      principal of or premium, if any, or interest, if any, on the Securities of
      such
      series, or any Tranche thereof, are to be payable, or are to be payable at
      the
      election of the Company or a Holder thereof, in securities or other property,
      the type and amount of such securities or other property, or the formulary
      or
      other method or other means by which such amount shall be determined, and the
      period or periods within which, and the terms and conditions upon which, any
      such election may be made;

     

    (m)    if
      the
      amount payable in respect of principal of or premium, if any, or interest,
      if
      any, on the Securities of such series, or any Tranche thereof, may be determined
      with reference to an index or other fact or event ascertainable outside of
      this
      Indenture, the manner in which such amounts shall be determined to the extent
      not established pursuant to clause (e) of this paragraph;

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    (n)    if
      other
      than the entire principal amount thereof, the portion of the principal amount
      of
      Securities of such series, or any Tranche thereof, which shall be payable upon
      declaration of acceleration of the Maturity thereof pursuant to Section
      802;

     

    (o)    any
      Events of Default, in addition to those specified in Section 801, or any
      exceptions to those specified in Section 801 with respect to the Securities
      of
      such series, and any covenants of the Company for the benefit of the Holders
      of
      the Securities of such series, or any Tranche thereof, in addition to those
      set
      forth in Article Six, or any exceptions to those set forth in Article
      Six;

     

    (p)    the
      terms, if any, pursuant to which the Securities of such series, or any Tranche
      thereof, may be converted into or exchanged for shares of capital stock or
      other
      securities of the Company or any other Person;

     

    (q)    the
      obligations or instruments, if any, which shall be considered to be Eligible
      Obligations in respect of the Securities of such series, or any Tranche thereof,
      denominated in a currency other than Dollars or in a composite currency, and
      any
      additional or alternative provisions for the reinstatement of the Company’s
      indebtedness in respect of such Securities after the satisfaction and discharge
      thereof as provided in Sections 701 and 702 (or any exceptions to those set
      forth in Sections 701 and 702);

     

    (r)    if
      the
      Securities of such series, or any Tranche thereof, are to be issued in global
      form, (i) any limitations on the rights of the Holder or Holders of such
      Securities to transfer or exchange the same or to obtain the registration of
      transfer thereof, (ii) any limitations on the rights of the Holder or Holders
      thereof to obtain certificates therefor in definitive form in lieu of global
      form and (iii) any and all other matters incidental to such
      Securities;

     

    (s)    if
      the
      Securities of such series, or any Tranche thereof, are to be issuable as bearer
      securities, any and all matters incidental thereto which are not specifically
      addressed in a supplemental indenture as contemplated by clause (g) of Section
      1201;

     

    (t)    to
      the
      extent not established pursuant to clause (r) of this paragraph, any limitations
      on the rights of the Holders of the Securities of such Series, or any Tranche
      thereof, to transfer or exchange such Securities or to obtain the registration
      of transfer thereof; and if a service charge will be made for the registration
      of transfer or exchange of Securities of such series, or any Tranche thereof,
      the amount or terms thereof;

     

    (u)    any
      exceptions to Section 113, or variation in the definition of Business Day,
      with
      respect to the Securities of such series, or any Tranche thereof;

     

    (v)    any
      collateral security, assurance or guarantee for the Securities of such series,
      or any Tranche thereof;

     

    (w)    the
      designation of the Trust to which Securities of such series are to be
      issued;

     

    (x)    the
      terms, if any, relating to any Additional Interest that may limit or restrict
      payments of Additional Interest; and

     

    (y)    any
      other
      terms of the Securities of such series, or any Tranche thereof, not inconsistent
      with the provisions of this Indenture.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    With
      respect to Securities of a series subject to a Periodic Offering, the indenture
      supplemental hereto or the Board Resolution which establishes such series,
      or
      the Officer’s Certificate pursuant to such supplemental indenture or Board
      Resolution, as the case may be, may provide general terms or parameters for
      Securities of such series and provide either that the specific terms of
      Securities of such series, or any Tranche thereof, shall be specified in a
      Company Order or that such terms shall be determined by the Company or its
      agents in accordance with procedures specified in a Company Order as
      contemplated by clause (b) of Section 303.

     

    All
      Securities of any one series shall be substantially identical, except as to
      principal amount and date of issue and except as may be set forth in the terms
      of such series as contemplated above. The Securities of each series shall be
      subordinated in right of payment to Senior Indebtedness as provided in Article
      Fourteen. 

     

    Unless
      otherwise provided with respect to a series of Securities as contemplated in
      Section 301(b), the aggregate principal amount of a series of Securities may
      be
      increased and additional Securities of such series may be issued up to the
      maximum aggregate principal amount authorized with respect to such series as
      increased.

     

    
      	
              SECTION
                302. 

            	
              Denominations.

            

    

     

    Unless
      otherwise provided as contemplated by Section 301 with respect to any series
      of
      Securities, or any Tranche thereof, the Securities of each series shall be
      issuable in denominations of $25 and any integral multiple thereof.

     

    
      	
              SECTION
                303. 

            	
              Execution,
                Authentication, Delivery and
                Dating.

            

    

     

    Unless
      otherwise provided as contemplated by Section 301 with respect to any series
      of
      Securities, or any Tranche thereof, the Securities shall be executed on behalf
      of the Company by an Authorized Officer and may have the corporate seal of
      the
      Company affixed thereto or reproduced thereon and attested by any other
      Authorized Officer. The signature of any or all of these officers on the
      Securities may be manual or facsimile.

     

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

     

    The
      Trustee shall authenticate and deliver Securities of a series, for original
      issue, at one time or from time to time in accordance with the Company Order
      referred to below, upon receipt by the Trustee of:

     

    (a)    the
      instrument or instruments establishing the form or forms and terms of the
      Securities of such series, as provided in Sections 201 and 301;

     

    (b)    a
      Company
      Order requesting the authentication and delivery of such Securities and to
      the
      extent that the terms of such Securities shall not have been established in
      an
      indenture supplemental hereto or in a Board Resolution, or in an Officer’s
      Certificate pursuant to a supplemental indenture or Board Resolution, all as
      contemplated by Sections 201 and 301, either (i) establishing such terms or
      (ii)
      in the case of Securities of a series subject to a Periodic Offering, specifying
      procedures, acceptable to the Trustee, by which such terms are to be established
      (which procedures may provide, to the extent acceptable to the Trustee, for
      

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    authentication
      and delivery pursuant to oral or electronic instructions from the Company or
      any
      agent or agents thereof, which oral instructions are to be promptly confirmed
      electronically or in writing), in either case in accordance with the instrument
      or instruments delivered pursuant to clause (a) above;

     

    (c)    the
      Securities of such series, each executed on behalf of the Company by an
      Authorized Officer;

     

    (d)    an
      Opinion of Counsel to the effect that:

     

    (i)    (A)
      the
      form or forms of such Securities have been duly authorized by the Company,
      and
      (B) the form or forms of the Securities have been established in conformity
      with
      the provisions of this Indenture;

     

    (ii)    (A)
      the
      terms of such Securities have been duly authorized by the Company, and (B)
      the
      terms of the Securities have been established in conformity with the provisions
      of this Indenture; and

     

    (iii)    such
      Securities, when authenticated and delivered by the Trustee and issued and
      delivered by the Company in the manner and subject to any conditions specified
      in such Opinion of Counsel, will have been duly issued under this Indenture
      and
      will constitute valid and legally binding obligations of the Company, entitled
      to the benefits provided by this Indenture, and enforceable in accordance with
      their terms, subject, as to enforcement, to laws relating to or affecting
      generally the enforcement of creditors’ rights, including, without limitation,
      bankruptcy and insolvency laws and to general principles of equity (regardless
      of whether such enforceability is considered in a proceeding in equity or at
      law);

     

    provided,
      however, that, with respect to Securities of a series subject to a Periodic
      Offering, the Trustee shall be entitled to receive such Opinion of Counsel
      only
      once at or prior to the time of the first authentication and delivery of
      Securities of such series, and that in lieu of the opinions described in clauses
      (ii) and (iii) above such Opinion of Counsel may, alternatively, state,
      respectively,

     

    (x)    that,
      when the terms of such Securities shall have been established pursuant to a
      Company Order or Orders, or pursuant to such procedures (acceptable to the
      Trustee) as may be specified from time to time by a Company Order or Orders,
      all
      as contemplated by and in accordance with the instrument or instruments
      delivered pursuant to clause (a) above, such terms will have been duly
      authorized by the Company, and will have been established in conformity with
      the
      provisions of this Indenture; and

     

    (y)    that
      such
      Securities when (1) executed by the Company, (2) authenticated and
      delivered by the Trustee in accordance with this Indenture, (3) issued and
      delivered by the Company in the manner and subject to any conditions specified
      in such Opinion of Counsel and (4) in the case of Securities, paid for, all
      as
      contemplated by and in accordance with the aforesaid Company Order or Orders
      or
      specified procedures referred to in paragraph (x) above, as the case may be,
      will have been duly issued under this Indenture and will constitute valid and
      legally binding obligations of the Company, entitled to the benefits provided
      by
      the Indenture, and enforceable in accordance with their terms, subject, as
      to
      enforcement, to laws relating to or affecting generally the enforcement of
      creditors’ rights, including, without limitation, bankruptcy and insolvency laws
      and to general principles of equity (regardless of whether such enforceability
      is considered in a proceeding in equity or at law).

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    With
      respect to Securities of a series subject to a Periodic Offering, the Trustee
      may conclusively rely, as to the authorization by the Company of any of such
      Securities, the forms and terms thereof and the legality, validity, binding
      effect and enforceability thereof, upon the Opinion of Counsel and other
      documents delivered pursuant to Sections 201 and 301 and this Section, as
      applicable, at or prior to the time of the first authentication of Securities
      of
      such series, unless and until such opinion or other documents have been
      superseded or revoked or expire by their terms. In connection with the
      authentication and delivery of Securities of a series pursuant to a Periodic
      Offering, the Trustee shall be entitled to assume that the Company’s
      instructions to authenticate and deliver such Securities do not violate any
      applicable law or any applicable rule, regulation or order of any Governmental
      Authority having jurisdiction over the Company.

     

    If
      the
      forms or terms of the Securities of any series have been established by or
      pursuant to a Board Resolution or an Officer’s Certificate as permitted by
      Sections 201 or 301, the Trustee shall not be required to authenticate such
      Securities if the issuance of such Securities pursuant to this Indenture will
      materially or 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.

     

    Unless
      otherwise specified as contemplated by Section 301 with respect to any series
      of
      Securities, or any Tranche thereof, each Security shall be dated the date of
      its
      authentication.

     

    Unless
      otherwise specified as contemplated by Section 301 with respect to any series
      of
      Securities, or any Tranche thereof, no Security shall be entitled to any benefit
      under this Indenture or be valid or obligatory for any purpose unless there
      appears on such Security a certificate of authentication substantially in the
      form provided for herein executed by the Trustee or an Authenticating Agent
      by
      manual signature of an authorized officer hereof, 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 to the Company, or any Person
      acting on its behalf, but shall never have been issued and sold by the Company,
      and the Company shall deliver such Security to the Security Registrar for
      cancellation as provided in Section 309 together with a written statement (which
      need not comply with Section 102 and need not be accompanied by an Officer’s
      Certificate and 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 hereof.

     

    
      	
              SECTION
                304. 

            	
              Temporary
                Securities.

            

    

     

    Pending
      the preparation of definitive Securities of any series, or any Tranche thereof,
      the Company may execute, and upon Company Order the Trustee shall authenticate
      and deliver, temporary Securities which are printed, lithographed, typewritten,
      mimeographed or otherwise produced, in any authorized denomination,
      substantially of the tenor of the definitive Securities in lieu of which they
      are issued 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; provided, however, that temporary
      Securities need not recite specific redemption, sinking fund, conversion or
      exchange provisions.

     

    Unless
      otherwise specified as contemplated by Section 301 with respect to the
      Securities of any series, or any Tranche thereof, after the preparation of
      definitive Securities of such series or Tranche, the temporary Securities of
      such series or Tranche shall be exchangeable, without charge to the Holder
      thereof, for definitive Securities of such series or Tranche upon surrender
      of
      such temporary Securities at the office or agency of the Company maintained
      pursuant to Section 602 in a Place of 

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    Payment
      for such Securities. Upon such surrender of temporary Securities, the Company
      shall, except as aforesaid, execute and the Trustee shall authenticate and
      deliver in exchange therefor definitive Securities of the same series and
      Tranche, of authorized denominations and of like tenor and aggregate principal
      amount.

     

    Until
      exchanged in full as hereinabove provided, temporary Securities shall in all
      respects be entitled to the same benefits under this Indenture as definitive
      Securities of the same series and Tranche and of like tenor authenticated and
      delivered hereunder.

     

    
      	
              SECTION
                305. 

            	
              Registration,
                Registration of Transfer and
                Exchange.

            

    

     

    The
      Company shall cause to be kept in each office designated pursuant to Section
      602, with respect to the Securities of each series or any Tranche thereof,
      a
      register (all registers kept in accordance with this Section being collectively
      referred to as the “Security Register”) in which, subject to such reasonable
      regulations as it may prescribe, the Company shall provide for the registration
      of Securities of such series or Tranche and the registration of transfer
      thereof. The Company shall designate one Person to maintain the Security
      Register for the Securities of each series on a consolidated basis, and such
      Person is referred to herein, with respect to such series, as the “Security
      Registrar.” Anything herein to the contrary notwithstanding, the Company may
      designate one or more of its offices or an office of any Affiliate as an office
      in which a register with respect to the Securities of one or more series, or
      any
      Tranche or Tranches thereof, shall be maintained, and the Company may designate
      itself or any Affiliate as the Security Registrar with respect to one or more
      of
      such series. The Security Register shall be open for inspection by the Trustee
      and the Company at all reasonable times.

     

    Except
      as
      otherwise specified as contemplated by Section 301 with respect to the
      Securities of any series, or any Tranche thereof, upon surrender for
      registration of transfer of any Security of such series or Tranche at the office
      or agency of the Company maintained pursuant to Section 602 in a Place of
      Payment for such series or Tranche, 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 and Tranche, of
      authorized denominations and of like tenor and aggregate principal
      amount.

     

    Except
      as
      otherwise specified as contemplated by Section 301 with respect to the
      Securities of any series, or any Tranche thereof, any Security of such series
      or
      Tranche may be exchanged at the option of the Holder, for one or more new
      Securities of the same series and Tranche, of authorized denominations and
      of
      like tenor and aggregate principal amount, upon surrender of the Securities
      to
      be exchanged at any 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.

     

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

     

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

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    Unless
      otherwise specified as contemplated by Section 301 with respect to Securities
      of
      any series, or any Tranche thereof, no service charge shall be made for any
      registration of transfer or exchange of Securities, but the Company may require
      payment of a sum sufficient to cover any tax or other governmental charge that
      may be imposed in connection with any registration of transfer or exchange
      of
      Securities, other than exchanges pursuant to Section 304, 406 or 1206 not
      involving any transfer.

     

    The
      Company shall not be required to execute or to provide for the registration
      of
      transfer of or the exchange of (a) Securities of any series, or any Tranche
      thereof, during a period of 15 days immediately preceding the date notice is
      to
      be given identifying the serial numbers of the Securities of such series or
      Tranche called for redemption or (b) any Security so selected for redemption
      in
      whole or in part, except the unredeemed portion of any Security being redeemed
      in part.

     

    
      	
              SECTION
                306. 

            	
              Mutilated,
                Destroyed, Lost and Stolen
                Securities.

            

    

     

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

     

    If
      there
      shall be delivered to the Company and the Trustee (a) evidence to their
      satisfaction of the ownership of and the destruction, loss or theft of any
      Security and (b) such security or indemnity as may be reasonably required by
      them to save each of them and any agent of either of them harmless, then, in
      the
      absence of notice to the Company or the Trustee that such Security is held
      by a
      Person purporting to be the owner of such Security, the Company shall execute
      and the Trustee shall authenticate and deliver, in lieu of any such destroyed,
      lost or stolen Security, a new Security of the same series and Tranche, and
      of
      like tenor and principal amount and bearing a number not contemporaneously
      outstanding.

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    
      	
              SECTION
                307. 

            	
              Payment
                of Interest; Interest Rights
                Preserved.

            

    

     

    Unless
      otherwise specified as contemplated by Section 301 with respect to the
      Securities of any series, or any Tranche thereof, 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.

     

    Subject
      to Section 312, 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 on the related Regular Record Date by virtue of having been such Holder,
      and such Defaulted Interest may be paid by the Company, at its election in
      each
      case, as provided in clause (a) or (b) below:

     

    (a)    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 date (herein called
      a
“Special Record Date”) for the payment of such Defaulted Interest, which shall
      be fixed in the following manner. The Company shall notify the Trustee in
      writing of the amount of Defaulted Interest proposed to be paid on each Security
      of such series and the date of the proposed payment, and at the same time the
      Company shall deposit with the Trustee an amount of money equal to the aggregate
      amount proposed to be paid in respect of such Defaulted Interest or shall make
      arrangements satisfactory to the Trustee for such deposit prior to the date
      of
      the proposed payment, such money when deposited to be held in trust for the
      benefit of the Persons entitled to such Defaulted Interest as in this clause
      provided. Thereupon the Trustee shall fix a Special Record Date for the payment
      of such Defaulted Interest which shall be not more than 15 days and not less
      than 10 days prior to the date of the proposed payment and not less than 10
      days
      after the receipt by the Trustee of the notice of the proposed payment. The
      Trustee shall promptly notify the Company of such Special Record Date and,
      in
      the name and at the expense of the Company, shall promptly 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 the address of such Holder 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.

     

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

     

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

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

     

    
      	
              SECTION
                308. 

            	
              Persons
                Deemed Owners.

            

    

     

    Prior
      to
      the due presentment of a Security for registration of transfer, the Company,
      the
      Trustee and any agent of the Company or the Trustee may treat the Person in
      whose name such Security is registered as the absolute owner of such Security
      for the purpose of receiving payment of principal of and premium, if any, and
      (subject to Sections 305 and 307) interest, if any, on such Security and for
      all
      other purposes whatsoever, whether or not such Security be overdue, and none
      of
      the Company, the Trustee or any agent of the Company or the Trustee shall be
      affected by notice to the contrary.

     

    
      	
              SECTION
                309. 

            	
              Cancellation
                by Security Registrar.

            

    

     

    All
      Securities surrendered for payment, redemption, registration of transfer or
      exchange or credit against any sinking fund payment shall, if surrendered to
      any
      Person other than the Security Registrar, be delivered to the Security Registrar
      and, if not theretofore canceled, shall be promptly canceled by the Security
      Registrar. The Company may at any time deliver to the Security Registrar for
      cancellation any Securities previously authenticated and delivered hereunder
      which the Company may have acquired in any manner whatsoever or which the
      Company shall not have issued and sold, and all Securities so delivered shall
      be
      promptly canceled by the Security Registrar. 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 Security Registrar shall be disposed of in accordance
      with the customary procedures of the Security Registrar as at the time of
      disposition shall be in effect, and the Security Registrar shall promptly
      deliver a certificate of disposition to the Trustee and the Company unless,
      by a
      Company Order delivered to the Security Registrar and the Trustee, the Company
      shall direct that canceled Securities be returned to it. The Security Registrar
      shall promptly deliver evidence of any cancellation of a Security in accordance
      with this Section 309 to the Trustee and the Company.

     

    
      	
              SECTION
                310. 

            	
              Computation
                of Interest.

            

    

     

    Except
      as
      otherwise specified as contemplated by Section 301 for Securities of any series,
      or any Tranche thereof, interest on the Securities of each series shall be
      computed on the basis of a 360-day year consisting of twelve 30-day months
      and
      for any period shorter than a full calendar month, on the basis of the actual
      number of days elapsed during such period.

     

    
      	
              SECTION
                311. 

            	
              Payment
                to Be in Proper Currency.

            

    

     

    In
      the
      case of the Securities of any series, or any Tranche thereof, denominated in
      any
      currency other than Dollars or in a composite currency (the “Required
      Currency”), except as otherwise specified with respect to such Securities as
      contemplated by Section 301, the obligation of the Company to make any payment
      of the principal thereof, or the premium, if any, or interest, if any, thereon,
      shall not be discharged or satisfied by any tender by the Company, or recovery
      by the Trustee, in any currency other than the Required Currency, except to
      the
      extent that such tender or recovery shall result in the Trustee timely holding
      the full amount of the Required Currency then due and payable. If any such
      tender or recovery is in a currency other than the Required Currency, the
      Trustee may take such actions as it considers appropriate to exchange such
      currency for the Required Currency. The costs and risks of any such exchange,
      including without limitation the risks of delay and exchange rate fluctuation,
      shall be borne by the Company, the Company shall remain fully liable for any
      shortfall or delinquency in the full amount of Required Currency then due and
      payable, and in no circumstances shall the Trustee be liable therefor except
      in
      the case of its negligence or willful misconduct.

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

     

    
      	
              SECTION
                312. 

            	
              Extension
                of Interest Payment.

            

    

     

    The
      Company shall have the right at any time, so long as no Event of Default
      hereunder has occurred and is continuing with respect to the Securities of
      any
      series, to extend interest payment periods from time to time on all Securities
      of such series, if so specified as contemplated by Section 301 with respect
      to
      such Securities and upon such terms as may be specified as contemplated by
      Section 301 with respect to such Securities.

     

    
      	
              SECTION
                313. 

            	
              Additional
                Interest.

            

    

     

    So
      long
      as any Preferred Securities remain outstanding, if the Trust which issued such
      Preferred Securities shall be required to pay, with respect to its income
      derived from the interest payments on the Securities of any series, any amounts
      for or on account of any taxes, duties, assessments or governmental charges
      of
      whatever nature imposed by the United States, or any other taxing authority,
      then, in any such case, the Company will pay as interest on such series such
      additional interest (“Additional Interest”) as may be necessary in order that
      the net amounts received and retained by such Trust after the payment of such
      taxes, duties, assessments or governmental charges shall result in such Trust’s
      having such funds as it would have had in the absence of any such
      payments.

     

    Whenever
      in this Indenture there is mentioned, in any context, the payment of interest
      on
      the Securities, such mention shall be deemed to include the payment of
      Additional Interest to the extent that, in such context, Additional Interest
      is,
      was or would be payable in respect thereof.

     

    ARTICLE
      FOUR

     

    Redemption
      of Securities

     

    
      	
              SECTION
                401. 

            	
              Applicability
                of Article.

            

    

     

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

     

    
      	
              SECTION
                402. 

            	
              Election
                to Redeem; Notice to
                Trustee.

            

    

     

    The
      election of the Company to redeem any Securities shall be evidenced by a Board
      Resolution or an Officer’s Certificate. 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 and in the case of
      Securities of a series held by a Trust, the Property Trustee under the related
      Trust Agreement, in writing of such Redemption Date and of the principal amount
      of such Securities to be redeemed. In the case of any redemption of Securities
      (a) prior to the expiration of any restriction on such redemption provided
      in
      the terms of such Securities or elsewhere in this Indenture or (b) pursuant
      to
      an election of the Company which is subject to a condition specified in the
      terms of such Securities or elsewhere in this Indenture, the Company shall
      furnish the Trustee with an Officer’s Certificate evidencing compliance with
      such restriction or condition.

     

    
      	
              SECTION
                403. 

            	
              Selection
                of Securities to Be
                Redeemed.

            

    

     

    If
      less
      than all the Securities of any series, or any Tranche thereof, are to be
      redeemed, the particular Securities to be redeemed shall be selected by the
      Trustee from the Outstanding Securities of such series or Tranche not previously
      called for redemption, by such method as shall be provided for 

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

     

    any
      particular series or Tranche, or, in the absence of any such provision, by
      such
      method as the Trustee shall deem fair and appropriate and which may, in any
      case, provide for the selection for redemption of portions (equal to the minimum
      authorized denomination for Securities of such series or Tranche or any integral
      multiple thereof) of the principal amount of Securities of such series or
      Tranche of a denomination larger than the minimum authorized denomination for
      Securities of such series or Tranche; provided, however, that if, as indicated
      in an Officer’s Certificate, the Company shall have offered to purchase all or
      any principal amount of the Securities then Outstanding of any series, or any
      Tranche thereof, and less than all of such Securities as to which such offer
      was
      made shall have been tendered to the Company for such purchase, the Trustee,
      if
      so directed by Company Order, shall select for redemption all or any principal
      amount of such Securities which have not been so tendered.

     

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

     

    For
      all
      purposes of this Indenture, unless the context otherwise requires, all
      provisions relating to the redemption of Securities shall relate, in the case
      of
      any 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
                404. 

            	
              Notice
                of Redemption.

            

    

     

    Notice
      of
      redemption shall be given in the manner provided in Section 106 to the Holders
      of the Securities to be redeemed not less than 30 nor more than 60 days prior
      to
      the Redemption Date.

     

    Except
      as
      otherwise specified as contemplated by Section 301 for Securities of any series,
      or any Tranche thereof, all notices of redemption shall state:

     

    (a)    the
      Redemption Date,

     

    (b)    the
      Redemption Price, or the formula pursuant to which the Redemption Price is
      to be
      determined if the Redemption Price cannot be determined at the time the notice
      is given,

     

    (c)    if
      less
      than all the Outstanding Securities of any series or Tranche are to be redeemed,
      the identification of the particular Securities to be redeemed and the portion
      of the principal amount of any Security to be redeemed in part,

     

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

     

    (e)    the
      place
      or places where such Securities are to be surrendered for payment of the
      Redemption Price and accrued interest, if any, unless it shall have been
      specified as contemplated by Section 301 with respect to such Securities that
      such surrender shall not be required,

     

    (f)    that
      the
      redemption is for a sinking or other fund, if such is the case,

     

    (g)    the
      CUSIP
      numbers, if any, assigned to such Securities; provided however, that such notice
      may state that no representation is made as to the correctness of CUSIP numbers,
      and the redemption of such Securities shall not be affected by any defect in
      or
      omission of such numbers, and

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

     

    (h)    such
      other matters as the Company shall deem desirable or appropriate.

     

    Unless
      otherwise specified with respect to any Securities in accordance with
      Section 301, with respect to any notice of redemption of Securities at the
      election of the Company, unless, upon the giving of such notice, such Securities
      shall be deemed to have been paid in accordance with Section 701, such
      notice may state that such redemption shall be conditional upon the receipt
      by
      the Paying Agent or Agents for such Securities, on or prior to the date fixed
      for such redemption, of money sufficient to pay the principal of and premium,
      if
      any, and interest, if any, on such Securities and that if such money shall
      not
      have been so received such notice shall be of no force or effect and the Company
      shall not be required to redeem such Securities. In the event that such notice
      of redemption contains such a condition and such money is not so received,
      the
      redemption shall not be made and within a reasonable time thereafter notice
      shall be given, in the manner in which the notice of redemption was given,
      that
      such money was not so received and such redemption was not required to be made,
      and the Paying Agent or Agents for the Securities otherwise to have been
      redeemed shall promptly return to the Holders thereof any of such Securities
      which had been surrendered for payment upon such redemption.

     

    Notice
      of
      redemption of Securities to be redeemed at the election of the Company, and
      any
      notice of non-satisfaction of a condition for redemption as aforesaid, 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. Notice of mandatory redemption of Securities
      shall be given by the Trustee in the name and at the expense of the
      Company.

     

    
      	
              SECTION
                405. 

            	
              Securities
                Payable on Redemption
                Date.

            

    

     

    Notice
      of
      redemption having been given as aforesaid, and the conditions, if any, set
      forth
      in such notice having been satisfied, the Securities or portions thereof 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, in
      the
      case of an unconditional notice of redemption, the Company shall default in
      the
      payment of the Redemption Price and accrued interest, if any) such Securities
      or
      portions thereof, if interest-bearing, shall cease to bear interest. Upon
      surrender of any such Security for redemption in accordance with such notice,
      such Security or portion thereof shall be paid by the Company at the Redemption
      Price, together with accrued interest, if any, to the Redemption Date; provided,
      however, that no such surrender shall be a condition to such payment if so
      specified as contemplated by Section 301 with respect to such Security; and
      provided, further, that except as otherwise specified as contemplated by Section
      301 with respect to such Security, any installment of interest on any Security
      the Stated Maturity of which installment is on or prior to the Redemption Date
      shall be payable to the Holder of such Security, or one or more Predecessor
      Securities, registered as such at the close of business on the related Regular
      Record Date according to the terms of such Security and subject to the
      provisions of Section 307.

     

    
      	
              SECTION
                406. 

            	
              Securities
                Redeemed in Part.

            

    

     

    Upon
      the
      surrender of any Security which is to be redeemed only in part at a Place of
      Payment therefor (with, if the Company or the Trustee so requires, due
      endorsement by, or a written instrument of transfer in form satisfactory to
      the
      Company and the Trustee duly executed by, the Holder thereof or his attorney
      duly authorized in writing), 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 Tranche, of any authorized
      denomination requested by such Holder and of like tenor and in aggregate
      principal amount equal to and in exchange for the unredeemed portion of the
      principal of the Security so surrendered.

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

    
       

    

    ARTICLE
      FIVE

     

    Sinking
      Funds

     

    
      	
              SECTION
                501. 

            	
              Applicability
                of Article.

            

    

     

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

     

    The
      minimum amount of any sinking fund payment provided for by the terms of
      Securities of any series, or any Tranche thereof, 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, or any Tranche
      thereof, is herein referred to as an “optional sinking fund payment”. If
      provided for by the terms of Securities of any series, or any Tranche thereof,
      the cash amount of any sinking fund payment may be subject to reduction as
      provided in Section 502. Each sinking fund payment shall be applied to the
      redemption of Securities of the series or Tranche in respect of which it was
      made as provided for by the terms of such Securities.

     

    
      	
              SECTION
                502. 

            	
              Satisfaction
                of Sinking Fund Payments with
                Securities.

            

    

     

    The
      Company (a) may deliver to the Trustee Outstanding Securities (other than any
      previously called for redemption) of a series or Tranche in respect of which
      a
      mandatory sinking fund payment is to be made and (b) may apply as a credit
      Securities of such series or Tranche which have been (i) 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 or (ii) repurchased by the Company in the open market, by tender
      offer or otherwise, in each case in satisfaction of all or any part of such
      mandatory sinking fund payment; provided, however, that no Securities shall
      be
      applied in satisfaction of a mandatory sinking fund payment if such Securities
      shall have been previously so applied. Securities so applied shall be received
      and credited for such purpose by the Trustee at the Redemption Price specified
      in such Securities for redemption through operation of the sinking fund and
      the
      amount of such mandatory sinking fund payment shall be reduced
      accordingly.

     

    
      	
              SECTION
                503. 

            	
              Redemption
                of Securities for Sinking
                Fund.

            

    

     

    Not
      less
      than 45 days prior to each sinking fund payment date for the Securities of
      any
      series, or any Tranche thereof, the Company shall deliver to the Trustee an
      Officer’s Certificate specifying:

     

    (a)    the
      amount of the next succeeding mandatory sinking fund payment for such series
      or
      Tranche;

     

    (b)    the
      amount, if any, of the optional sinking fund payment to be made together with
      such mandatory sinking fund payment;

     

    (c)    the
      aggregate sinking fund payment;

     

    (d)    the
      portion, if any, of such aggregate sinking fund payment which is to be satisfied
      by the payment of cash; and

     

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

     

    (e)    the
      portion, if any, of such aggregate sinking fund payment which is to be satisfied
      by delivering and crediting Securities of such series or Tranche pursuant to
      Section 502 and stating the basis for such credit and that such Securities
      have not previously been so credited, and the Company shall also deliver to
      the
      Trustee not later than 45 days prior to such sinking fund payment date, any
      Securities to be so delivered.

     

    If
      the
      Company shall not deliver such Officer’s Certificate, the next succeeding
      sinking fund payment for such series or Tranche shall be made entirely in cash
      in the amount of the mandatory sinking fund payment. Not less than 40 days
      before each such sinking fund payment date, the Trustee shall select the
      Securities to be redeemed upon such sinking fund payment date in the manner
      specified in Section 403 and cause notice of the redemption thereof to be
      given in the name of and at the expense of the Company in the manner provided
      in
      Section 404. Such notice having been duly given, the redemption of such
      Securities shall be made upon the terms and in the manner stated in
      Sections 405 and 406.

     

    ARTICLE
      SIX

     

    Covenants

     

    
      	
              SECTION
                601. 

            	
              Payment
                of Principal, Premium and
                Interest.

            

    

     

    The
      Company shall pay the principal of and premium, if any, and interest, if any
      (including Additional Interest), on the Securities of each series in accordance
      with the terms of such Securities and this Indenture.

     

    
      	
              SECTION
                602. 

            	
              Maintenance
                of Office or Agency.

            

    

     

    The
      Company shall maintain in each Place of Payment for the Securities of each
      series, or any Tranche thereof, an office or agency where payment of such
      Securities shall be made or such Securities shall be surrendered for payment,
      where the registration of transfer or exchange of such Securities may be
      effected and where notices and demands to or upon the Company in respect of
      such
      Securities and this Indenture may be served. The Company shall give prompt
      written notice to the Trustee of the location, and any change in the location,
      of each such office or agency and prompt notice to the Holders of any such
      change in the manner specified in Section 106. If at any time the Company shall
      fail to maintain any such required office or agency in respect of Securities
      of
      any series, or any Tranche thereof, or shall fail to furnish the Trustee with
      the address thereof, payment of such Securities may be made, registration of
      transfer or exchange thereof may be effected and notices and demands in respect
      thereof may be served at the Corporate Trust Office of the Trustee, and the
      Company hereby appoints the Trustee as its agent for all such purposes in any
      such event.

     

    The
      Company may also from time to time designate one or more other offices or
      agencies with respect to the Securities of one or more series, or any Tranche
      thereof, for any or all of the foregoing purposes and may from time to time
      rescind such designations; provided, however, that, unless otherwise specified
      as contemplated by Section 301 with respect to the Securities of such series
      or
      Tranche, no such designation or rescission shall in any manner relieve the
      Company of its obligation to maintain an office or agency for such purposes
      in
      each Place of Payment for such Securities in accordance with the requirements
      set forth above. The Company shall give prompt written notice to the Trustee,
      and prompt notice to the Holders in the manner specified in Section 106, of
      any
      such designation or rescission and of any change in the location of any such
      other office or agency.

     

    Anything
      herein to the contrary notwithstanding, any office or agency required by this
      Section may be maintained at an office of the Company or any Affiliate of the
      Company, in which event 

     

    
      
        
        

      

      
        28

        
          

        

      

      
        
        

      

    

     

    the
      Company or such Affiliate, as the case may be, shall perform all functions
      to be
      performed at such office or agency.

     

    
      	
              SECTION
                603. 

            	
              Money
                for Securities Payments to Be Held in
                Trust.

            

    

     

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

     

    Whenever
      the Company shall have one or more Paying Agents for the Securities of any
      series, or any Tranche thereof, it shall, on or before each due date of the
      principal of and premium, if any, and interest, if any, on such Securities,
      deposit with such Paying Agents sums sufficient (without duplication) to pay
      the
      principal and premium or interest so becoming due, such sums 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 shall promptly notify
      the Trustee of any failure by it so to act.

     

    The
      Company shall cause each Paying Agent for the Securities of any series, or
      any
      Tranche thereof, other than the Company or the Trustee, 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
      shall:

     

    (a)    hold
      all
      sums held by it for the payment of the principal of and premium, if any, or
      interest, if any, on such Securities 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;

     

    (b)    give
      the
      Trustee notice of any failure by the Company (or any other obligor upon such
      Securities) to make any payment of principal of or premium, if any, or interest,
      if any, on such Securities; and

     

    (c)    at
      any
      time during the continuance of any such failure, upon the written request of
      the
      Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying
      Agent and furnish to the Trustee such information as it possesses regarding
      the
      names and addresses of the Persons entitled to such sums.

     

    The
      Company may at any time pay, or by Company Order direct any Paying Agent to
      pay,
      to the Trustee all sums held in trust by the Company or such Paying Agent,
      such
      sums to be held by the Trustee upon the same trusts as those upon which such
      sums were held by the Company or such Paying Agent and, if so stated in a
      Company Order delivered to the Trustee, in accordance with the provisions of
      Article Seven; and, upon such payment by any Paying Agent to the Trustee, such
      Paying Agent shall be released from all further liability with respect to such
      money.

     

    Any
      money
      deposited with the Trustee or any Paying Agent, or then held by the Company,
      in
      trust for the payment of the principal of and premium, if any, or interest,
      if
      any, on any Security and remaining unclaimed for two years after such principal
      and premium, if any, or interest, if any, has become due and payable shall
      be
      paid to the Company on Company Request, or, if then held by the Company, shall
      be discharged from such trust; and, upon such payment or discharge, the Holder
      of 

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

     

    such
      Security shall, as an unsecured general creditor and not as a Holder of an
      Outstanding Security, look only to the Company for payment of the amount so
      due
      and payable and remaining unpaid, and all liability of the Trustee or such
      Paying Agent with respect to such trust money, and all liability of the Company
      as trustee thereof, shall thereupon cease; provided, however, that the Trustee
      or such Paying Agent, before being required to make any such payment to the
      Company, may at the expense of the Company cause to be mailed, on one occasion
      only, notice to such Holder that such money remains unclaimed and that, after
      a
      date specified therein, which shall not be less than 30 days from the date
      of
      such mailing, any unclaimed balance of such money then remaining will be paid
      to
      the Company.

     

    
      	
              SECTION
                604. 

            	
              Corporate
                Existence.

            

    

     

    Subject
      to the rights of the Company under Article Eleven, the Company shall do or
      cause
      to be done all things necessary to preserve and keep in full force and effect
      its corporate existence.

     

    
      	
              SECTION
                605. 

            	
              Maintenance
                of Properties.

            

    

     

    The
      Company shall cause (or, with respect to property owned in common with others,
      make reasonable effort to cause) all its properties used or useful in the
      conduct of its business to be maintained and kept in good condition, repair
      and
      working order and shall cause (or, with respect to property owned in common
      with
      others, make reasonable effort to cause) to be made all necessary repairs,
      renewals, replacements, betterments and improvements thereof, all as, in the
      judgment of the Company, may be necessary so that the business carried on in
      connection therewith may be properly conducted; provided, however, that nothing
      in this Section shall prevent the Company from discontinuing, or causing the
      discontinuance of, the operation and maintenance of any of its properties if
      such discontinuance is, in the judgment of the Company, desirable in the conduct
      of its business.

     

    
      	
              SECTION
                606. 

            	
              Annual
                Officer’s Certificate as to
                Compliance.

            

    

     

    Not
      later
      than April 1 in each year, commencing April 1, ____, the Company shall deliver
      to the Trustee an Officer’s Certificate which need not comply with Section 102,
      executed by the principal executive officer, principal financial officer or
      the
      principal accounting officer of the Company, as to such officer’s knowledge of
      the Company’s compliance with all conditions and covenants under this Indenture,
      such compliance to be determined without regard to any period of grace or
      requirement of notice under this Indenture.

     

    
      	
              SECTION
                607. 

            	
              Waiver
                of Certain Covenants.

            

    

     

    The
      Company may omit in any particular instance to comply with any term, provision
      or condition set forth in (a) Sections 602, 608, 609 or any additional covenant
      or restriction specified with respect to the Securities of any series, or any
      Tranche thereof, as contemplated by Section 301 or by clause (b) of Section
      1201
      if before the time for such compliance the Holders of a majority in aggregate
      principal amount of the Outstanding Securities of all series and Tranches with
      respect to which compliance with Section 602, 608, 609 or such additional
      covenant or restriction is to be omitted, considered as one class, shall, by
      Act
      of such Holders, either waive such compliance in such instance or generally
      waive compliance with such term, provision or condition and (b) Section 604,
      605
      or Article Eleven if before the time for such compliance the Holders of a
      majority in aggregate principal amount of Securities Outstanding under this
      Indenture shall, by Act of such Holders, either waive such compliance in such
      instance or generally waive compliance with such term, provision or condition;
      but, in the case of (a) or (b), no such waiver shall extend to or affect such
      term, provision or condition except to the extent so expressly waived, and,
      until such waiver shall become effective, the obligations of the Company and
      the
      duties of the Trustee in respect of any such term, provision or condition shall
      remain in full force and 

     

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

    

     

    effect;
      provided, however, so long as a Trust holds Securities of any series, such
      Trust
      may not waive compliance or waive any default in compliance by the Company
      with
      any covenant or other term contained in this Indenture or the Securities of
      such
      series without the approval of the holders of a majority (or such greater
      percentage as shall be required by the Trust Agreement pertaining to such Trust)
      in aggregate liquidation preference of the outstanding Preferred Securities
      issued by such Trust affected, obtained as provided in the Trust Agreement
      pertaining to such Trust.

     

    
      	
              SECTION
                608. 

            	
              Restrictions
                on Dividends and Debt
                Payments.

            

    

     

    So
      long
      as any Preferred Securities of any series remain outstanding, if at such time
      (a) there shall have occurred and be continuing an Event of Default (whether
      before or after expiration of any period of grace) resulting from a payment
      default hereunder or (b) the Company shall have elected to extend any interest
      payment period as provided in Section 312, and any such period, or any extension
      thereof, shall be continuing, then the Company shall not (i) declare or pay
      any
      dividends or distributions on its capital stock, (ii) redeem, purchase, acquire
      or make a liquidation payment with respect to any of its capital stock, (iii)
      pay any principal, interest or premium on, or repay, repurchase or redeem any
      debt securities that are equal or junior in right of payment to the Securities,
      or (iv) make any payments with respect to any guarantee of debt securities
      if
      such guarantee is equal or junior in right of payment to the
      Securities.

     

    The
      foregoing provisions do not prevent or restrict the Company from making: (1)
      purchases, redemptions or other acquisitions of its capital stock in connection
      with any employment contract, benefit plan or other similar arrangement with
      or
      for the benefit of employees, officers, directors or agents or a stock purchase
      or dividend reinvestment plan, or the satisfaction of its obligations pursuant
      to any contract or security outstanding on the date that the interest payment
      period is extended requiring it to purchase, redeem or acquire its capital
      stock, (2) any payment, repayment, redemption, purchase, acquisition or
      declaration of dividend described in clauses (i) and (ii) above as a result
      of a
      reclassification of its capital stock, or the exchange or conversion of all
      or a
      portion of one class or series of its capital stock for another class or series
      of its capital stock, (3) the purchase of fractional interests in shares of
      its
      capital stock pursuant to the conversion or exchange provisions of its capital
      stock or the security being converted or exchanged, or in connection with the
      settlement of stock purchase contracts, (4) dividends or distributions paid
      or
      made in its capital stock (or rights to acquire its capital stock), or
      repurchases, redemptions or acquisitions of capital stock in connection with
      the
      issuance or exchange of capital stock (or of securities convertible into or
      exchangeable for shares of its capital stock and distributions in connection
      with the settlement of stock purchase contracts), (5) redemptions, exchanges
      or
      repurchases of, or with respect to, any rights outstanding under a shareholder
      rights plan or the declaration or payment thereunder of a dividend or
      distribution of or with respect to rights in the future, and (6) payments under
      any preferred trust securities guarantee or guarantee of junior subordinated
      debentures executed and delivered by the Company concurrently with the issuance
      by a trust of any preferred trust securities, so long as the amount of payments
      made on any preferred trust securities or junior subordinated debentures (as
      the
      case may be) is paid on all preferred trust securities or junior subordinated
      debentures (as the case may be) then outstanding on a pro rata basis in
      proportion to the full distributions to which each series of preferred trust
      securities or junior subordinated debentures (as the case may be) is then
      entitled if paid in full.

     

    
      	
              SECTION
                609. 

            	
              Maintenance
                of Trust Existence.

            

    

     

    So
      long
      as Preferred Securities of any series remain outstanding, the Company shall
      (i)
      maintain direct or indirect ownership of all interests in the Trust which issued
      such Preferred Securities, other than such Preferred Securities, (ii) not
      voluntarily (to the extent permitted by law) dissolve, liquidate or wind up
      such
      Trust, except in connection with a distribution of the Securities to the holders
      of 

     

    
      
        
        

      

      
        31

        
          

        

      

      
        
        

      

    

     

    the
      Preferred Securities in liquidation of such Trust, (iii) remain the sole
      Depositor under the Trust Agreement (the “Depositor”) of such Trust and timely
      perform in all material respects all of its duties as Depositor of such Trust,
      and (iv) use reasonable efforts to cause such Trust to remain a statutory trust
      and otherwise continue to be treated as a grantor trust for Federal income
      tax
      purposes, provided that any permitted successor to the Company under this
      Indenture may succeed to the Company’s duties as Depositor of such Trust; and
      provided further that the Company may permit such Trust to consolidate or merge
      with or into another statutory or business trust or other permitted successor
      under the Trust Agreement pertaining to such Trust so long as the Company (or
      such permitted successor) agrees to comply with this Section 609 with respect
      to
      such successor statutory or business trust or other permitted
      successor.

     

    
      	
              SECTION
                610. 

            	
              Rights
                of Holders of Preferred Securities.

            

    

     

    The
      Company agrees that, for so long as any Preferred Securities remain outstanding,
      its obligations under this Indenture will also be for the benefit of the holders
      from time to time of Preferred Securities, and the Company acknowledges and
      agrees that such holders will be entitled to enforce this Indenture, as third
      party beneficiaries, directly against the Company to the same extent as if
      such
      holders of Preferred Securities held a principal amount of Securities equal
      to
      the stated liquidation amount of the Preferred Securities held by such
      holders.

     

    ARTICLE
      SEVEN

     

    Satisfaction
      and Discharge

     

    
      	
              SECTION
                701. 

            	
              Satisfaction
                and Discharge of
                Securities.

            

    

     

    Any
      Security or Securities, or any portion of the principal amount thereof, shall
      be
      deemed to have been paid for all purposes of this Indenture, and the entire
      indebtedness of the Company in respect thereof shall be deemed to have been
      satisfied and discharged, if there shall have been irrevocably deposited with
      the Trustee or any Paying Agent (other than the Company), in trust:

     

    (a)    money
      in
      an amount which shall be sufficient, or

     

    (b)    in
      the
      case of a deposit made prior to the Maturity of such Securities or portions
      thereof, Eligible Obligations, which shall not contain provisions permitting
      the
      redemption or other prepayment thereof at the option of the issuer thereof,
      the
      principal of and the interest on which when due, without any regard to
      reinvestment thereof, will provide moneys which, together with the money, if
      any, deposited with or held by the Trustee or such Paying Agent, shall be
      sufficient, or

     

    (c)    a
      combination of (a) or (b) which shall be sufficient,

     

    to
      pay
      when due the principal of and premium, if any, and interest (including any
      Additional Interest), if any, due and to become due on such Securities or
      portions thereof on or prior to Maturity; provided, however, that in the case
      of
      the provision for payment or redemption of less than all the Securities of
      any
      series or Tranche, such Securities or portions thereof shall have been selected
      by the Trustee as provided herein and, in the case of a redemption, the notice
      requisite to the validity of such redemption shall have been given or
      irrevocable authority shall have been given by the Company to the Trustee to
      give such notice, under arrangements satisfactory to the Trustee; and provided,
      further, that the Company shall have delivered to the Trustee and such Paying
      Agent:

     

    
      
        
        

      

      
        32

        
          

        

      

      
        
        

      

    

     

    (x)    if
      such
      deposit shall have been made prior to the Maturity of such Securities, a Company
      Order stating that the money and Eligible Obligations deposited in accordance
      with this Section shall be held in trust, as provided in Section
      703;

     

    (y)    if
      Eligible
      Obligations shall have been deposited, an Opinion of Counsel that the
      obligations so deposited constitute Eligible Obligations and do not contain
      provisions permitting the redemption or other prepayment at the option of the
      issuer thereof, and an opinion of an independent public accountant of nationally
      recognized standing, selected by the Company, to the effect that the
      requirements set forth in clause (b) above have been satisfied; and

     

    (z)    if
      such
      deposit shall have been made prior to the Maturity of such Securities, an
      Officer’s Certificate stating the Company’s intention that, upon delivery of
      such Officer’s Certificate, its indebtedness in respect of such Securities or
      portions thereof will have been satisfied and discharged as contemplated in
      this
      Section.

     

    Upon
      the
      deposit of money or Eligible Obligations, or both, in accordance with this
      Section, together with the documents required by clauses (x), (y) and (z) above,
      the Trustee shall, upon receipt of a Company Request, acknowledge in writing
      that the Security or Securities or portions thereof with respect to which such
      deposit was made are deemed to have been paid for all purposes of this Indenture
      and that the entire indebtedness of the Company in respect thereof has been
      satisfied and discharged as contemplated in this Section. In the event that
      all
      of the conditions set forth in the preceding paragraph shall have been satisfied
      in respect of any Securities or portions thereof except that, for any reason,
      the Officer’s Certificate specified in clause (z) (if otherwise required) shall
      not have been delivered, such Securities or portions thereof shall nevertheless
      be deemed to have been paid for all purposes of this Indenture, and the Holders
      of such Securities or portions thereof shall nevertheless be no longer entitled
      to the benefits of this Indenture or of any of the covenants of the Company
      under Article Six (except the covenants contained in Sections 602 and 603)
      or
      any other covenants made in respect of such Securities or portions thereof
      as
      contemplated by Section 301 or Section 1201(b), but the indebtedness of the
      Company in respect of such Securities or portions thereof shall not be deemed
      to
      have been satisfied and discharged prior to Maturity for any other purpose,
      and
      the Holders of such Securities or portions thereof shall continue to be entitled
      to look to the Company for payment of the indebtedness represented thereby;
      and,
      upon Company Request, the Trustee shall acknowledge in writing that such
      Securities or portions thereof are deemed to have been paid for all purposes
      of
      this Indenture.

     

    If
      payment at Stated Maturity of less than all of the Securities of any series,
      or
      any Tranche thereof, is to be provided for in the manner and with the effect
      provided in this Section, the Trustee shall select such Securities, or portions
      of principal amount thereof, in the manner specified by Section 403 for
      selection for redemption of less than all the Securities of a series or
      Tranche.

     

    In
      the
      event that Securities which shall be deemed to have been paid for purposes
      of
      this Indenture, and, if such is the case, the Company’s indebtedness in respect
      thereof shall have been satisfied and discharged, all as provided in this
      Section do not mature and are not to be redeemed within the 60 day period
      commencing with the date of the deposit of moneys or Eligible Obligations,
      as
      aforesaid, the Company shall, as promptly as practicable, give a notice, in
      the
      same manner as a notice of redemption with respect to such Securities, to the
      Holders of such Securities to the effect that such deposit has been made and
      the
      effect thereof.

     

    Notwithstanding
      that any Securities shall be deemed to have been paid for purposes of this
      Indenture, as aforesaid, the obligations of the Company and the Trustee in
      respect of such Securities 

     

    
      
        
        

      

      
        33

        
          

        

      

      
        
        

      

    

     

    under
      Sections 304, 305, 306, 403, 404, 406, 503 (as to notice of redemption), 602,
      603, 907, 909, 910 and 915 and this Article Seven shall survive.

     

    The
      Company shall pay, and shall indemnify the Trustee or any Paying Agent with
      which Eligible Obligations shall have been deposited as provided in this Section
      against, any tax, fee or other charge imposed on or assessed against such
      Eligible Obligations or the principal or interest received in respect of such
      Eligible Obligations, including, but not limited to, any such tax payable by
      any
      entity deemed, for tax purposes, to have been created as a result of such
      deposit.

     

    Anything
      herein to the contrary notwithstanding, (a) if, at any time after a Security
      would be deemed to have been paid for purposes of this Indenture, and, if such
      is the case, the Company’s indebtedness in respect thereof would be deemed to
      have been satisfied or discharged, pursuant to this Section (without regard
      to
      the provisions of this paragraph), the Trustee or any Paying Agent, as the
      case
      may be, (i) shall be required to return the money or Eligible Obligations,
      or
      combination thereof, deposited with it as aforesaid to the Company or its
      representative under any applicable Federal or State bankruptcy, insolvency
      or
      other similar law, or (ii) are unable to apply any money in accordance with
      this Article with respect to any Securities by reason of any order or judgment
      of any court or governmental authority enjoining, restraining or otherwise
      prohibiting such application, such Security shall thereupon be deemed
      retroactively not to have been paid and any satisfaction and discharge of the
      Company’s indebtedness in respect thereof shall retroactively be deemed not to
      have been effected, and such Security shall be deemed to remain Outstanding
      and
      (b) any satisfaction and discharge of the Company’s indebtedness in respect of
      any Security shall be subject to the provisions of the last paragraph of Section
      603.

     

    
      	
              SECTION
                702. 

            	
              Satisfaction
                and Discharge of
                Indenture.

            

    

     

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

     

    (a)    no
      Securities remain Outstanding hereunder; and

     

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

     

    provided,
      however, that if, in accordance with the last paragraph of Section 701, any
      Security, previously deemed to have been paid for purposes of this Indenture,
      shall be deemed retroactively not to have been so paid, this Indenture shall
      thereupon be deemed retroactively not to have been satisfied and discharged,
      as
      aforesaid, and to remain in full force and effect, and the Company shall execute
      and deliver such instruments as the Trustee shall reasonably request to evidence
      and acknowledge the same.

     

    Notwithstanding
      the satisfaction and discharge of this Indenture as aforesaid, the obligations
      of the Company and the Trustee under Sections 304, 305, 306, 403, 404, 406,
      503
      (as to notice of redemption), 602, 603, 907, 909, 910 and 915 and this Article
      Seven shall survive.

     

    Upon
      satisfaction and discharge of this Indenture as provided in this Section, the
      Trustee shall assign, transfer and turn over to the Company or to the order
      of
      the Company, subject to the lien provided by Section 907, any and all money,
      securities and other property then held by the Trustee for the benefit of the
      Holders of the Securities other than money and Eligible Obligations held by
      the
      Trustee pursuant to Section 703 and shall execute and deliver to the Company
      such instruments as, in the 

     

    
      
        
        

      

      
        34

        
          

        

      

      
        
        

      

    

     

    judgment
      of the Company, shall be necessary, desirable or appropriate to effect or
      evidence the satisfaction and discharge of this Indenture.

     

    
      	
              SECTION
                703. 

            	
              Application
                of Trust Money.

            

    

     

    Neither
      the Eligible Obligations nor the money deposited pursuant to Section 701, nor
      the principal or interest payments on any such Eligible Obligations, shall
      be
      withdrawn or used for any purpose other than, and such Eligible Obligations
      and
      money deposited and the principal and interest payments on any such Eligible
      Obligations shall be held in trust for, the payment of the principal of and
      premium, if any, and interest, if any, on the Securities or portions of
      principal amount thereof in respect of which such deposit was made, all subject,
      however, to the provisions of Section 603; provided, however, that, so long
      as
      there shall not have occurred and be continuing an Event of Default, any cash
      received from such principal or interest payments on such Eligible Obligations,
      if not then needed for such purpose, shall, to the extent practicable, be
      invested in Eligible Obligations of the type described in clause (b) in the
      first paragraph of Section 701 maturing at such times and in such amounts as
      shall be sufficient, together with any other moneys and the proceeds of any
      other Eligible Obligations then held by the Trustee, to pay when due the
      principal of and premium, if any, and interest, if any, due and to become due
      on
      such Securities or portions thereof on and prior to the Maturity thereof, and
      interest earned from such reinvestment shall be paid over to the Company or
      to
      the order of the Company as received, free and clear of any trust, lien or
      pledge under this Indenture except the lien provided by Section 907; and
      provided, further, that, so long as there shall not have occurred and be
      continuing an Event of Default, any moneys held in accordance with this Section
      on the Maturity of all such Securities in excess of the amount required to
      pay
      the principal of and premium, if any, and interest, if any, then due on such
      Securities shall be paid over to the Company or to the order of the Company
      free
      and clear of any trust, lien or pledge under this Indenture except the lien
      provided by Section 907; and provided, further, that if an Event of Default
      shall have occurred and be continuing, moneys to be paid over to the Company
      or
      to the order of the Company pursuant to this Section shall be held until such
      Event of Default shall have been waived or cured.

     

    ARTICLE
      EIGHT

     

    Events
      of Default; Remedies

     

    
      	
              SECTION
                801. 

            	
              Events
                of Default.

            

    

     

    “Event
      of
      Default,” wherever used herein with respect to Securities of any series, means
      any one of the following events, subject to such additions and exceptions as
      may
      be provided pursuant to Section 301:

     

    (a)    failure
      to pay interest, including any Additional Interest, if any, on any Security
      of
      such series within 30 days after the same becomes due and payable (whether
      or
      not payment is prohibited by the subordination provisions of Article Fourteen
      hereof); provided, however, that a valid extension of the interest payment
      period by the Company as contemplated in Section 312 of this Indenture shall
      not
      constitute a default in the payment of interest for this purpose;
      or

     

    (b)    failure
      to pay the principal of or premium, if any, on any Security of such series
      when
      it becomes due and payable (whether or not payment is prohibited by the
      subordination provisions of Article Fourteen hereof); or

     

    (c)    failure
      to perform, or breach of, any covenant or warranty of the Company in this
      Indenture (other than a covenant or warranty a default in the performance of
      which or breach of 

     

    
      
        
        

      

      
        35

        
          

        

      

      
        
        

      

    

     

    which
      is
      elsewhere in this Section specifically dealt with or which has expressly been
      included in this Indenture solely for the benefit of one or more series of
      Securities other than such series) and the continuance of such default or breach
      for a period of 90 days after there has been given, by registered or certified
      mail, to the Company by the Trustee, or to the Company and the Trustee by the
      Holders of at least 33% in principal amount of the Outstanding Securities of
      such 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,
      unless the Trustee, or the Trustee and the Holders of a principal amount of
      Securities of such series not less than the principal amount of Securities
      the
      Holders of which gave such notice, as the case may be, shall agree in writing
      to
      an extension of such period prior to its expiration; provided, however, that
      the
      Trustee, or the Trustee and the Holders of such principal amount of Securities
      of such series, as the case may be, shall be deemed to have agreed to an
      extension of such period if corrective action is initiated by the Company within
      such period and is being diligently pursued in good faith; or

     

    (d)    the
      entry
      by a court having jurisdiction in the premises of (1) 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 (2) a decree or order adjudging the Company a bankrupt or
      insolvent, or approving as properly filed a petition by one or more Persons
      other than the Company 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 for the Company or for any substantial
      part of its property, or ordering the winding up or liquidation of its affairs,
      and any such decree or order for relief or any such other decree or order shall
      have remained unstayed and in effect for a period of 90 consecutive days;
      or

     

    (e)    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 the Company to the entry of a decree or order
      for
      relief in respect of the Company in a 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
      the Company, or the filing by the Company of a petition or answer or consent
      seeking reorganization or relief under any applicable Federal or State law,
      or
      the consent by the Company 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 authorization of such action
      by
      the Board of Directors; or

     

    (f)    any
      other
      Event of Default specified with respect to Securities of such
      series.

     

    
      	
              SECTION
                802. 

            	
              Acceleration
                of Maturity; Rescission and
                Annulment.

            

    

     

    If
      an
      Event of Default applicable to the Securities of one or more series, but not
      applicable to all Outstanding Securities, shall have occurred and be continuing,
      either the Trustee or the Holders of not less than 33% in aggregate principal
      amount of the Securities of each such series may then declare the principal
      amount of all Securities of such series (or, if any of the Securities of such
      series are Discount Securities, such portion of the principal amount of such
      Securities as may be specified in the terms thereof as contemplated by Section
      301) and interest accrued thereon to be due and payable immediately (provided
      that the payment of principal and interest on such Securities shall remain
      subordinated to the extent provided in this Indenture), by a notice in writing
      to the Company (and to the 

     

    
      
        
        

      

      
        36

        
          

        

      

      
        
        

      

    

     

    Trustee
      if given by Holders), and, upon receipt by the Company of notice of such
      declaration of acceleration, such principal amount (or specified amount) and
      interest accrued thereon shall become immediately due and payable. If an Event
      of Default applicable to all Outstanding Securities shall have occurred and
      be
      continuing, either the Trustee or the Holders of not less than 33% in principal
      amount of all Securities then Outstanding (considered as one class), and not
      the
      Holders of the Securities of any one of such series, may declare the principal
      of all Securities (or, if any of the Securities of such series are Discount
      Securities, such portion of the principal amount of such Securities as may
      be
      specified in the terms thereof as contemplated by Section 301) and interest
      accrued thereon to be due and payable immediately (provided that the payment
      of
      principal and interest on such Securities shall remain subordinated to the
      extent provided in this Indenture), by a notice in writing to the Company (and
      to the Trustee if given by Holders), and, upon receipt by the Company of notice
      of such declaration of acceleration, such principal amount (or specified amount)
      and interest accrued thereon shall become immediately due and
      payable.

     

    At
      any
      time after such a declaration of acceleration with respect to Securities of
      any
      series shall have been made and before a judgment or decree for payment of
      the
      money due shall have been obtained by the Trustee as hereinafter in this Article
      provided, the Event or Events of Default giving rise to such declaration of
      acceleration shall, without further act, be deemed to have been waived, and
      such
      declaration and its consequences shall, without further act, be deemed to have
      been rescinded and annulled, if

     

    (a)   
the
      Company shall have paid or deposited with the Trustee a sum sufficient to
      pay

     

    (1)    all
      overdue interest (including Additional Interest), if any, on all Securities
      of
      such series then Outstanding;

     

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

     

    (3)    to
      the
      extent that payment of such interest is lawful, interest upon overdue interest
      at the rate or rates prescribed therefor in such Securities;

     

    (4)    all
      amounts due to the Trustee under Section 907;

     

    and

     

    (b)    if,
      after
      application of money paid or deposited in accordance with clause (a) of this
      Section 802, Securities of such series would remain Outstanding, any other
      Event
      or Events of Default with respect to Securities of such series, other than
      the
      non-payment of the principal of Securities of such series which shall have
      become due solely by such declaration of acceleration, shall have been cured
      or
      waived as provided in Section 813.

     

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

     

    
      	
              SECTION
                803. 

            	
              Collection
                of Indebtedness and Suits for Enforcement by
                Trustee.

            

    

     

    If
      an
      Event of Default described in clause (a) or (b) of Section 801 shall have
      occurred and be continuing, the Company shall, upon demand of the Trustee,
      pay
      to it, for the benefit of the Holders of the Securities of the series with
      respect to which such Event of Default shall have occurred, 

     

    
      
        
        

      

      
        37

        
          

        

      

      
        
        

      

    

     

    the
      whole
      amount then due and payable on such Securities for principal and premium, if
      any, and interest, if any, and, to the extent permitted by law, interest on
      premium, if any, and on any overdue principal and interest, at the rate or
      rates
      prescribed therefor in such Securities, and, in addition thereto, such further
      amount as shall be sufficient to cover any amounts due to the Trustee under
      Section 907. Unless otherwise specified pursuant to Section 301 with respect
      to
      any series of Securities, the rate or rates at which Securities shall bear
      interest on overdue principal, premium, interest and Additional Interest, if
      any, shall be, to the extent permitted by law, the same rate or rates at which
      such Securities shall bear interest prior to Maturity.

     

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

     

    If
      an
      Event of Default with respect to Securities of any series shall have occurred
      and be 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
                804. 

            	
              Trustee
                May File Proofs of Claim.

            

    

     

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

     

    (a)    to
      file
      and prove a claim for the whole amount of principal, premium, if any, and
      interest, if any, owing and unpaid in respect of the Securities and to file
      such
      other papers or documents as may be necessary or advisable in order to have
      the
      claims of the Trustee (including any claim for amounts due to the Trustee under
      Section 907) and of the Holders allowed in such judicial proceeding,
      and

     

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

     

    and
      any
      custodian, receiver, assignee, trustee, liquidator, sequestrator or other
      similar official in any such judicial proceeding is hereby authorized by each
      Holder to make such payments to the Trustee and, in the event that the Trustee
      shall consent to the making of such payments directly to the Holders, to pay
      to
      the Trustee any amounts due it under Section 907.

     

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

     

    
      
        
        

      

      
        38

        
          

        

      

      
        
        

      

    

     

    
      	
              SECTION
                805. 

            	
              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 in respect of which such judgment has been recovered.

     

    
      	
              SECTION
                806. 

            	
              Application
                of Money Collected.

            

    

     

    Any
      money
      collected by the Trustee pursuant to this Article shall be applied in the
      following order, at the date or dates fixed by the Trustee and, in case of
      the
      distribution of such money on account of principal or premium, if any, or
      interest, if any, upon presentation of the Securities in respect of which or
      for
      the benefit of which such money shall have been collected 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 907;

     

    Second:
      Subject
      to the provisions of Articles Fourteen, the payment of the amounts then due
      and
      unpaid upon the Securities for principal of and premium, if any, and interest
      (including Additional Interest), if any, 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, premium, if any, and interest, if any, respectively; and

     

    Third:
      To the
      Company.

     

    
      	
              SECTION
                807. 

            	
              Limitation
                on Suits.

            

    

     

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

     

    (a)    such
      Holder shall have previously given written notice to the Trustee of a continuing
      Event of Default with respect to the Securities of such series;

     

    (b)    the
      Holders of a majority in aggregate principal amount of the Outstanding
      Securities of all series in respect of which an Event of Default shall have
      occurred and be continuing, considered as one class, shall have made written
      request to the Trustee to institute proceedings in respect of such Event of
      Default in its own name as Trustee hereunder;

     

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

     

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

     

    (e)    no
      direction inconsistent with such written request shall have been given to the
      Trustee during such 60-day period by the Holders of a majority in aggregate
      principal amount of 

     

    
      
        
        

      

      
        39

        
          

        

      

      
        
        

      

    

     

    the
      Outstanding Securities of all series in respect of which an Event of Default
      shall have occurred and be continuing, considered as one class;

     

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

     

    
      	
              SECTION
                808. 

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

            

    

     

    Notwithstanding
      any other provision in this Indenture, the Holder of any Security shall have
      the
      right, which is absolute and unconditional, to receive payment of the principal
      of and premium, if any, and (subject to Section 307 and 312) interest (including
      Additional Interest), if any, on such Security on the Stated Maturity or
      Maturities expressed in such Security (or, in the case of redemption, on the
      Redemption Date) and to institute suit for the enforcement of any such payment,
      and such rights shall not be impaired without the consent of such
      Holder.

     

    
      	
              SECTION
                809. 

            	
              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 shall have been discontinued
      or
      abandoned for any reason, or shall have 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 and Trustee and such Holder shall be restored
      severally and respectively to their former positions hereunder and thereafter
      all rights and remedies of the Trustee and such Holder shall continue as though
      no such proceeding had been instituted.

     

    
      	
              SECTION
                810. 

            	
              Rights
                and Remedies Cumulative.

            

    

     

    Except
      as
      otherwise provided with respect to the replacement or payment of mutilated,
      destroyed, lost or stolen Securities in the last paragraph of Section 306,
      no
      right or remedy herein conferred upon or reserved to the Trustee or to the
      Holders is intended to be exclusive of any other right or remedy, and every
      right and remedy shall, to the extent permitted by law, be cumulative and in
      addition to every other right and remedy given hereunder or now or hereafter
      existing at law or in equity or otherwise. The assertion or employment of any
      right or remedy hereunder, or otherwise, shall not prevent the concurrent
      assertion or employment of any other appropriate right or remedy.

     

    
      	
              SECTION
                811. 

            	
              Delay
                or Omission Not Waiver.

            

    

     

    No
      delay
      or omission of the Trustee or of any Holder to exercise any right or remedy
      accruing upon any Event of Default shall impair any such right or remedy or
      constitute a waiver of any such Event of Default or an acquiescence therein.
      Every right and remedy given by this Article 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
                812. 

            	
              Control
                by Holders of Securities.

            

    

     

    If
      an
      Event of Default shall have occurred and be continuing in respect of a series
      of
      Securities, the Holders of a majority in principal amount of the Outstanding
      Securities of such series shall have the right to direct the time, method and
      place of conducting any proceeding for any remedy available to the Trustee,
      or
      exercising any trust or power conferred on the Trustee, with respect to the
      Securities of 

     

    
      
        
        

      

      
        40

        
          

        

      

      
        
        

      

    

     

    such
      series; provided, however, that if an Event of Default shall have occurred
      and
      be continuing with respect to more than one series of Securities, the Holders
      of
      a majority in aggregate principal amount of the Outstanding Securities of all
      such series, considered as one class, shall have the right to make such
      direction, and not the Holders of the Securities of any one of such series;
      and
      provided, further, that

     

    (a)    such
      direction shall not be in conflict with any rule of law or with this Indenture,
      and could not involve the Trustee in personal liability in circumstances where
      indemnity would not, in the Trustee’s sole discretion, be adequate,
      and

     

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

     

    
      	
              SECTION
                813. 

            	
              Waiver
                of Past Defaults.

            

    

     

    The
      Holders of a majority in aggregate 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

     

    (a)    in
      the
      payment of the principal of or premium, if any, or interest (including
      Additional Interest), if any, on any Security of such series, or

     

    (b)    in
      respect of a covenant or provision hereof which under Section 1202 cannot be
      modified or amended without the consent of the Holder of each Outstanding
      Security of such series affected;

     

    provided,
      however, that so long as a Trust holds the Securities of any series, such Trust
      may not waive any past default without the consent of a majority (or such
      greater percentage as shall be required by the Trust Agreement pertaining to
      such Trust) in aggregate liquidation preference of the outstanding Preferred
      Securities issued by such Trust affected, obtained as provided in the Trust
      Agreement pertaining to such Trust. Any such waiver by holders of a majority
      in
      aggregate liquidation preference of outstanding Preferred Securities issued
      by
      any such Trust shall be deemed to be on behalf of all holders of Preferred
      Securities issued by any such Trust.

     

    Upon
      any
      such waiver, such default shall cease to exist, and any and all Events 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
                814. 

            	
              Undertaking
                for Costs.

            

    

     

    The
      Company and the Trustee agree, and each Holder by his acceptance thereof shall
      be deemed to have agreed, that any court may in its discretion require, in
      any
      suit for the enforcement of any right or remedy under this Indenture, or in
      any
      suit against the Trustee for any action taken, suffered or omitted by it as
      Trustee, the filing by any party litigant in such suit of an undertaking to
      pay
      the costs of such suit, and that such court may in its discretion assess
      reasonable costs, including reasonable attorneys’ fees, against any party
      litigant in such suit, having due regard to the merits and good faith of the
      claims or defenses made by such party litigant; but the provisions of this
      Section shall not apply to any suit instituted by the Company, to any suit
      instituted by the Trustee, to any suit instituted by any Holder, or group of
      Holders, holding in the aggregate more than 10% in aggregate principal amount
      of
      the Outstanding Securities of all series in respect of which such suit may
      be
      brought, considered as one class, or to any suit instituted by any Holder for
      the enforcement of the payment of the principal of or premium, 

     

    
      
        
        

      

      
        41

        
          

        

      

      
        
        

      

    

     

    if
      any,
      or interest, if any, 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).

     

    
      	
              SECTION
                815. 

            	
              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
      NINE

     

    The
      Trustee

     

    
      	
              SECTION
                901. 

            	
              Certain
                Duties and
                Responsibilities.

            

    

     

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

     

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

     

    (ii)    in
      the
      absence of bad faith on its part, the Trustee may, with respect to Securities
      of
      such series, conclusively rely, as to the truth of the statements and the
      correctness of the opinions expressed therein, upon certificates or opinions
      furnished to the Trustee and conforming to the requirements of this Indenture;
      but in the case of any such certificates or opinions which by any provisions
      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.

     

    (b)    In
      case
      an Event of Default with respect to Securities of any series shall have occurred
      and be continuing, the Trustee shall exercise, with respect to the Securities
      of
      such series, such of the rights and powers vested in it by this Indenture,
      and
      use the same degree of care and skill in their exercise, as a prudent person
      would exercise or use under the circumstances in the conduct of his or her
      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:

     

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

     

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

     

    
      
        
        

      

      
        42

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

    
      	
              SECTION
                902. 

            	
              Notice
                of Defaults.

            

    

     

    The
      Trustee shall give notice of any default hereunder with respect to the
      Securities of any series to the Holders of Securities of such series in the
      manner and to the extent required to do so by the Trust Indenture Act, unless
      such default shall have been cured or waived; provided, however, that in the
      case of any default of the character specified in Section 801(c), no such notice
      to Holders shall be given until at least 45 days after the occurrence thereof.
      For the purpose of this Section, the term “default” means any event which is, or
      after notice or lapse of time, or both, would become, an Event of Default with
      respect to the Securities of such series.

     

    
      	
              SECTION
                903. 

            	
              Certain
                Rights of Trustee.

            

    

     

    Subject
      to the provisions of Section 901 and to the applicable provisions of the Trust
      Indenture Act:

     

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

     

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

     

    (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, conclusively rely
      upon
      an Officer’s Certificate;

     

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

     

    
      
        
        

      

      
        43

        
          

        

      

      
        
        

      

    

     

    (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 Holder
      pursuant to this Indenture, unless such Holder shall have offered to the Trustee
      reasonable security or indemnity against the costs, expenses and liabilities
      which might be incurred by it in compliance with such request or
      direction;

     

    (f)    the
      Trustee shall not be bound to make any investigation into the facts or matters
      stated in any resolution, certificate, statement, instrument, opinion, report,
      notice, request, direction, consent, order, bond, debenture, note, other
      evidence of indebtedness or other paper or document, but the Trustee, in its
      discretion, may make such further inquiry or investigation into such facts
      or
      matters as it may see fit, and, if the Trustee shall determine to make such
      further inquiry or investigation, it shall (subject to applicable legal
      requirements) with prior notice to the Company be entitled to examine, during
      normal business hours, 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)    except
      as
      otherwise provided in Section 801, the Trustee shall not be charged with
      knowledge of any Event of Default with respect to the Securities of any series
      for which it is acting as Trustee unless either (1) a Responsible Officer of
      the
      Trustee shall have actual knowledge of the Event of Default or (2) written
      notice of such Event of Default shall have been given to the Trustee by the
      Company or any other obligor on such Securities or by any Holder of such
      Securities;

     

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

     

    (j)    the
      rights, privileges, protections, immunities and benefits given to the Trustee,
      including, without limitation, its right to be indemnified, are extended to,
      and
      shall be enforceable by, the Trustee in each of its capacities
      hereunder.

     

    
      	
              SECTION
                904. 

            	
              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 neither the Trustee nor any Authenticating Agent assumes responsibility
      for
      their correctness. The Trustee makes no representations as to the validity
      or
      sufficiency of this Indenture or of the Securities. Neither the Trustee nor
      any
      Authenticating Agent shall be accountable for the use or application by the
      Company of Securities or the proceeds thereof.

     

    
      	
              SECTION
                905. 

            	
              May
                Hold Securities.

            

    

     

    Each
      of
      the Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar
      or any other agent of the Company or the Trustee, in its individual or any
      other
      capacity, may become the owner or pledgee of Securities and/or Preferred
      Securities and, subject to Sections 908 and 913, may otherwise deal with the
      Company with the same rights it would have if it were not the Trustee,
      Authenticating Agent, Paying Agent, Security Registrar or such other
      agent.

     

    
      
        
        

      

      
        44

        
          

        

      

      
        
        

      

    

     

    
      	
              SECTION
                906. 

            	
              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 or investment of any money received by it hereunder except
      as
      expressly provided herein or otherwise agreed with, and for the sole benefit
      of,
      the Company.

     

    
      	
              SECTION
                907. 

            	
              Compensation
                and Reimbursement.

            

    

     

    The
      Company agrees

     

    (a)    to
      pay to
      the Trustee from time to time such compensation for all services rendered by
      it
      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);

     

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

     

    (c)    to
      indemnify the Trustee and hold it harmless from and against, any loss, liability
      or expense incurred without negligence or bad faith on its part, arising out
      of
      or in connection with the acceptance or administration of the trust or trusts
      hereunder or the performance of its duties hereunder, including the costs and
      expenses of defending itself against any claim or liability in connection with
      the exercise or performance of any of its powers or duties hereunder, except
      to
      the extent any such loss, liability or expense may be attributable to its
      negligence, willful misconduct or bad faith.

     

    As
      security for the performance of the obligations of the Company under this
      Section, the Trustee shall have a lien prior to the Securities upon all property
      and funds held or collected by the Trustee as such other than property and
      funds
      held in trust under Section 703 (except as otherwise provided in Section 703).
      “Trustee” for purposes of this Section shall include any predecessor Trustee;
      provided, however, that the negligence, willful misconduct or bad faith of
      any
      Trustee hereunder shall not affect the rights of any other Trustee
      hereunder.

     

    When
      the
      Trustee incurs expenses or renders services in connection with an Event of
      Default specified in Section 801(d) or Section 801(e), the expenses (including
      the reasonable charges and expenses of its counsel) and the compensation for
      the
      services are intended to constitute expenses of administration under any
      applicable Federal or State bankruptcy, insolvency or other similar
      law.

     

    The
      provisions of this Section 907 shall survive the termination of this
      Indenture.

     

    
      	
              SECTION
                908. 

            	
              Disqualification;
                Conflicting Interests.

            

    

     

    If
      the
      Trustee shall have or acquire any conflicting interest within the meaning of
      the
      Trust Indenture Act, it shall either eliminate such conflicting interest or
      resign to the extent, in the manner and with the effect, and subject to the
      conditions, provided in the Trust Indenture Act and this Indenture. To the
      extent permitted by the Trust Indenture Act, the Trustee shall not be deemed
      to
      have a conflicting 

     

    
      
        
        

      

      
        45

        
          

        

      

      
        
        

      

    

     

    interest
      by virtue of being a trustee under [insert indentures/agreements, if any,]
      and
      such agreements, guarantees and the Securities of any other series shall be
      deemed to be specifically described in this Indenture for the purposes of clause
      (i) of the first proviso contained in Section 310(b) of the Trust Indenture
      Act.

     

    
      	
              SECTION
                909. 

            	
              Corporate
                Trustee Required;
                Eligibility.

            

    

     

    There
      shall at all times be a Trustee hereunder which shall be

     

    (a)    a
      Corporation organized and doing business under the laws of the United States,
      any State or Territory 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, or

     

    (b)    if
      and to
      the extent permitted by the Commission by rule, regulation or order upon
      application, a Corporation or other Person organized and doing business under
      the laws of a foreign government, authorized under such laws to exercise
      corporate trust powers, having a combined capital and surplus of at least
      $50,000,000 or the Dollar equivalent of the applicable foreign currency and
      subject to supervision or examination by authority of such foreign government
      or
      a political subdivision thereof substantially equivalent to supervision or
      examination applicable to United States institutional trustees,

     

    and,
      in
      either case, qualified and eligible under this Article and the Trust Indenture
      Act. 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 and the Trust Indenture Act, it shall resign
      immediately in the manner and with the effect hereinafter specified in this
      Article.

     

    
      	
              SECTION
                910. 

            	
              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 911.

     

    (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 911 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; provided
      that so long as any Preferred Securities remain outstanding, the Trust which
      issued such Preferred Securities shall not execute any Act to remove the Trustee
      without the consent of the holders of a majority in aggregate liquidation
      preference of Preferred Securities issued by such Trust outstanding, obtained
      as
      provided in the Trust Agreement pertaining to such Trust.

     

    
      
        
        

      

      
        46

        
          

        

      

      
        
        

      

    

     

    (d)    If
      at any
      time:

     

    (1)    the
      Trustee shall fail to comply with Section 908 after written request therefor
      by
      the Company or by any Holder who has been a bona fide Holder for at least six
      months, or

     

    (2)    the
      Trustee shall cease to be eligible under Section 909 or Section 310(a) of the
      Trust Indenture Act and shall fail to resign after written request therefor
      by
      the Company or by 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, (x) the Company by Board Resolutions may remove the Trustee
      with respect to all Securities or (y) subject to Section 814, any Holder
      who has been a bona fide Holder 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 (other than as contemplated
      in clause (y) in subsection (d) of this Section), with respect to the Securities
      of one or more series, the Company, by Board Resolutions, 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 (subject to Section 914) there shall be only one Trustee with respect
      to the Securities of any particular series) and shall comply with the applicable
      requirements of Section 911. 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 911, 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 911,
      any
      Holder who has been a bona fide Holder of a Security of such series for at
      least
      six months may, on behalf of itself 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)    So
      long
      as no event which is, or after notice or lapse of time, or both, would become,
      an Event of Default shall have occurred and be continuing, and except with
      respect to a Trustee appointed by Act of the Holders of a majority in principal
      amount of the Outstanding Securities pursuant to subsection (e) of this Section,
      if the Company shall have delivered to the Trustee (i) Board Resolutions
      appointing a successor Trustee, effective as of a date specified therein, and
      (ii) an instrument of acceptance of such appointment, effective as of such
      date,
      by such successor Trustee in accordance with Section 911, the Trustee shall
      be
      deemed to have resigned as contemplated in subsection (b) of this Section,
      the
      successor Trustee shall be deemed to have been appointed by the Company pursuant
      to subsection (e) of this Section and such appointment shall be deemed to have
      been accepted as contemplated in Section 911, all as of such 

     

    
      
        
        

      

      
        47

        
          

        

      

      
        
        

      

    

     

    date,
      and
      all other provisions of this Section and Section 911 shall be applicable to
      such
      resignation, appointment and acceptance except to the extent inconsistent with
      this subsection (f).

     

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

     

    
      	
              SECTION
                911. 

            	
              Acceptance
                of Appointment by
                Successor.

            

    

     

    (a)    In
      case
      of the appointment hereunder of a successor Trustee with respect to the
      Securities of all series, every such successor Trustee so appointed shall
      execute, acknowledge and deliver to the Company and to the retiring Trustee
      an
      instrument accepting such appointment, and thereupon the resignation or removal
      of the retiring Trustee shall become effective and such successor Trustee,
      without any further act, shall become vested with all the rights, powers, trusts
      and duties of the retiring Trustee; but, on the request of the Company or the
      successor Trustee, such retiring Trustee shall, upon payment of all sums owed
      to
      it, 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 such 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; and upon the execution and delivery of such supplemental indenture
      the resignation or removal of the retiring Trustee shall become effective to
      the
      extent provided therein and each such successor Trustee, without any further
      act, shall become vested with all the rights, powers, trusts and duties of
      the
      retiring Trustee with respect to the Securities of that or those series to
      which
      the appointment of such successor Trustee relates; but, on request of the
      Company or any successor Trustee, such retiring Trustee, upon payment of all
      sums owed to it, 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.

     

    
      
        
        

      

      
        48

        
          

        

      

      
        
        

      

    

     

    (c)    Upon
      request of any such successor Trustee, the Company shall execute any instruments
      which fully vest in and confirm to such successor Trustee all such rights,
      powers and trusts referred to in subsection (a) or (b) of this Section, as
      the
      case may be.

     

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

     

    
      	
              SECTION
                912. 

            	
              Merger,
                Conversion, Consolidation or Succession to
                Business.

            

    

     

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

     

    
      	
              SECTION
                913. 

            	
              Preferential
                Collection of Claims Against
                Company.

            

    

     

    If
      the
      Trustee shall be or become a creditor of the Company or any other obligor upon
      the Securities (other than by reason of a relationship described in Section
      311(b) of the Trust Indenture Act), the Trustee shall be subject to any and
      all
      applicable provisions of the Trust Indenture Act regarding the collection of
      claims against the Company, or such other obligor. For purposes of Section
      311(b) of the Trust Indenture Act:

     

    (a)    the
      term
“cash transaction” means any transaction in which full payment for goods or
      securities sold is made within seven days after delivery of the goods or
      securities in currency or in checks or other orders drawn upon banks or bankers
      and payable upon demand;

     

    (b)    the
      term
“self-liquidating paper” means any draft, bill of exchange, acceptance or
      obligation which is made, drawn, negotiated or incurred by the Company or such
      obligor for the purpose of financing the purchase, processing, manufacturing,
      shipment, storage or sale of goods, wares or merchandise and which is secured
      by
      documents evidencing title to, possession of, or a lien upon, the goods, wares
      or merchandise or the receivables or proceeds arising from the sale of the
      goods, wares or merchandise previously constituting the security, provided
      the
      security is received by the Trustee simultaneously with the creation of the
      creditor relationship with the Company, or such obligor arising from the making,
      drawing, negotiating or incurring of the draft, bill of exchange, acceptance
      or
      obligation.

     

    
      	
              SECTION
                914. 

            	
              Co-trustees
                and Separate Trustees.

            

    

     

    At
      any
      time or times, for the purpose of meeting the legal requirements of any
      applicable jurisdiction, the Company and the Trustee shall have power to
      appoint, and, upon the written request of the Trustee or of the Holders of
      at
      least 33% in principal amount of the Securities then Outstanding, the Company
      shall for such purpose join with the Trustee in the execution and delivery
      of
      all instruments and agreements necessary or proper to appoint, one or more
      Persons approved by the Trustee either to act as co-trustee, jointly with the
      Trustee, or to act as separate trustee, in either case with such powers as
      may
      be provided in the instrument of appointment, and to vest in such Person or
      Persons, in the capacity 

     

    
      
        
        

      

      
        49

        
          

        

      

      
        
        

      

    

     

    aforesaid,
      any property, title, right or power deemed necessary or desirable, subject
      to
      the other provisions of this Section. If the Company does not join in such
      appointment within 15 days after the receipt by it of a request so to do, or
      if
      an Event of Default shall have occurred and be continuing, the Trustee alone
      shall have power to make such appointment.

     

    Should
      any written instrument or instruments from the Company be required by any
      co-trustee or separate trustee to more fully confirm to such co-trustee or
      separate trustee such property, title, right or power, any and all such
      instruments shall, on request, be executed, acknowledged and delivered by the
      Company.

     

    Every
      co-trustee or separate trustee shall, to the extent permitted by law, but to
      such extent only, be appointed subject to the following conditions:

     

    (a)    the
      Securities shall be authenticated and delivered, and all rights, powers, duties
      and obligations hereunder in respect of the custody of securities, cash and
      other personal property held by, or required to be deposited or pledged with,
      the Trustee hereunder, shall be exercised solely, by the Trustee;

     

    (b)    the
      rights, powers, duties and obligations hereby conferred or imposed upon the
      Trustee in respect of any property covered by such appointment shall be
      conferred or imposed upon and exercised or performed either by the Trustee
      or by
      the Trustee and such co-trustee or separate trustee jointly, as shall be
      provided in the instrument appointing such co-trustee or separate trustee,
      except to the extent that under any law of any jurisdiction in which any
      particular act is to be performed, the Trustee shall be incompetent or
      unqualified to perform such act, in which event such rights, powers, duties
      and
      obligations shall be exercised and performed by such co-trustee or separate
      trustee.

     

    (c)    the
      Trustee at any time, by an instrument in writing executed by it, with the
      concurrence of the Company, may accept the resignation of or remove any
      co-trustee or separate trustee appointed under this Section, and, if an Event
      of
      Default shall have occurred and be continuing, the Trustee shall have power
      to
      accept the resignation of, or remove, any such co-trustee or separate trustee
      without the concurrence of the Company. Upon the written request of the Trustee,
      the Company shall join with the Trustee in the execution and delivery of all
      instruments and agreements necessary or proper to effectuate such resignation
      or
      removal. A successor to any co-trustee or separate trustee so resigned or
      removed may be appointed in the manner provided in this Section;

     

    (d)    no
      co-trustee or separate trustee hereunder shall be personally liable by reason
      of
      any act or omission of the Trustee, or any other such trustee hereunder, and
      the
      Trustee shall not be personally liable by reason of any act or omission of
      any
      such co-trustee or separate trustee; and

     

    (e)    any
      Act
      of Holders delivered to the Trustee shall be deemed to have been delivered
      to
      each such co-trustee and separate trustee.

     

    
      	
              SECTION
                915. 

            	
              Appointment
                of Authenticating Agent.

            

    

     

    The
      Trustee may appoint an Authenticating Agent or Agents acceptable to the Company
      with respect to the Securities of one or more series, or any Tranche thereof,
      which shall be authorized to act on behalf of the Trustee to authenticate
      Securities of such series or Tranche, issued upon original issuance, exchange,
      registration of transfer or partial redemption thereof or pursuant to Section
      306, and 

     

    
      
        
        

      

      
        50

        
          

        

      

      
        
        

      

    

     

    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 be acceptable to the Company and shall at all
      times be a Corporation organized and doing business under the laws of the United
      States, any State or Territory thereof or the District of Columbia or the
      Commonwealth of Puerto Rico, 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 said supervising or examining authority, then
      for the purposes of this Section, the combined capital and surplus of such
      Authenticating Agent shall be deemed to be its combined capital and surplus
      as
      set forth in its most recent report of condition so published. If at any time
      an
      Authenticating Agent shall cease to be eligible in accordance with the
      provisions of this Section, such Authenticating Agent shall resign immediately
      in the manner and with the effect specified in this Section.

     

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

     

    An
      Authenticating Agent may resign 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. Upon receiving such a notice of resignation or upon
      such
      a termination, or in case at any time such Authenticating Agent shall cease
      to
      be eligible in accordance with the provisions of this Section, the Trustee
      may
      appoint a successor Authenticating Agent which shall be acceptable to the
      Company. Any successor Authenticating Agent upon acceptance of its appointment
      hereunder shall become vested with all the rights, powers and duties of its
      predecessor hereunder, with like effect as if originally named as an
      Authenticating Agent. No successor Authenticating Agent shall be appointed
      unless eligible under the provisions of this Section.

     

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

     

    The
      provisions of Sections 308, 904 and 905 shall be applicable to each
      Authenticating Agent.

     

    If
      an
      appointment with respect to the Securities of one or more series, or any Tranche
      thereof, shall be made pursuant to this Section, the Securities of such series
      or Tranche may have endorsed thereon, in addition to the Trustee’s certificate
      of authentication, an alternative certificate of authentication substantially
      in
      the following form:

     

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

     

    
      
        
        

      

      
        51

        
          

        

      

      
        
        

      

    

     

    
      	
            	
              THE BANK OF NEW YORK, as Trustee

               

            
	
            	By:	 
	 	 	
                      As
                Authenticating Signatory

            

    

    
      	 	 	 
	
            	By:	 
	 	 	
                      Authorized
                Signatory

            

    

     

     

    If
      all of
      the Securities of a series may not be originally issued at one time, and if
      the
      Trustee does not have an office capable of authenticating Securities upon
      original issuance located in a Place of Payment where the Company wishes to
      have
      Securities of such series authenticated upon original issuance, the Trustee,
      if
      so requested by the Company in writing (which writing need not comply with
      Section 102 and need not be accompanied by an Opinion of Counsel), shall
      appoint, in accordance with this Section and in accordance with such procedures
      as shall be acceptable to the Trustee, an Authenticating Agent having an office
      in a Place of Payment designated by the Company with respect to such series
      of
      Securities.

     

    ARTICLE
      TEN

     

    Holders’
      Lists and Reports by Trustee and Company

     

    
      	
              SECTION
                1001. 

            	
              Lists
                of Holders.

            

    

     

    Semiannually,
      not later than June 1 and December 1 in each year, commencing ______, 20__,
      and
      at such other times as the Trustee may request in writing, the Company shall
      furnish or cause to be furnished to the Trustee information as to the names
      and
      addresses of the Holders, and the Trustee shall preserve such information and
      similar information received by it in any other capacity and afford to the
      Holders access to information so preserved by it, all to such extent, if any,
      and in such manner as shall be required by the Trust Indenture Act; provided,
      however, that no such list need be furnished so long as the Trustee shall be
      the
      Security Registrar.

     

    
      	
              SECTION
                1002. 

            	
              Reports
                by Trustee and Company.

            

    

     

    Not
      later
      than July 15 in each year, commencing July 15, 20__, the Trustee shall transmit
      to the Holders, the Commission and each securities exchange upon which any
      Securities are listed, a report, dated as of the next preceding April 15, with
      respect to any events and other matters described in Section 313(a) of the
      Trust
      Indenture Act, in such manner and to the extent required by the Trust Indenture
      Act. The Trustee shall transmit to the Holders, the Commission and each
      securities exchange upon which any Securities are listed, and the Company shall
      file with the Trustee (within 30 days after filing with the Commission in the
      case of reports which pursuant to the Trust Indenture Act must be filed with
      the
      Commission and furnished to the Trustee) and transmit to the Holders, such
      other
      information, reports and other documents, if any, at such times and in such
      manner, as shall be required by the Trust Indenture Act. The Company shall
      notify the Trustee of the listing of any Securities on any securities exchange
      or of the delisting thereof.

     

    
      
        
        

      

      
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    ARTICLE
      ELEVEN

     

    Consolidation,
      Merger, Conveyance or Other Transfer

     

    
      	
              SECTION
                1101. 

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

            

    

     

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

     

    (a)    the
      Person 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 Person
      organized and existing under the laws of the United States, 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 satisfactory
      to the Trustee, the due and punctual payment of the principal of and premium,
      if
      any, and interest, if any, on all Outstanding Securities and the performance
      of
      every covenant of this Indenture on the part of the Company to be
      performed or observed;

     

    (b)    immediately
      after giving effect to such transaction, no 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

     

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

     

    
      	
              SECTION
                1102. 

            	
              Successor
                Entity Substituted.

            

    

     

    Upon
      any
      consolidation by the Company with or merger by the Company into any other Person
      or any conveyance, or other transfer or lease of the properties and assets
      of
      the Company substantially as an entirety in accordance with Section 1101, the
      successor Person 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 Outstanding
      hereunder.

     

    
      	
              SECTION
                1103. 

            	
              Limitation.

            

    

     

    Nothing
      in this Indenture shall be deemed to prevent or restrict:

     

    (a)    any
      consolidation or merger after the consummation of which the Company would be
      the
      surviving or resulting entity,

     

    (b)    any
      consolidation of the Company with any other Person all of the outstanding voting
      securities of which are owned, directly or indirectly, by the Company; or any
      merger of any of such Persons into any other of such Persons; or any conveyance
      or other transfer, or lease, of its properties substantially as an entirety
      by
      any thereof to any other thereof,

     

    
      
        
        

      

      
        53

        
          

        

      

      
        
        

      

    

     

    (c)    any
      conveyance or other transfer, or lease, of any part of the properties and/or
      assets of the Company which does not constitute the entirety, or substantially
      the entirety, of its properties and assets,

     

    (d)    the
      approval by the Company of, or the consent by the Company to, any consolidation
      or merger to which any direct or indirect subsidiary or affiliate of the Company
      may be a party or any conveyance, transfer or lease by any such subsidiary
      or
      affiliate of any of its properties or assets, or

     

    (e)    any
      other
      transaction not contemplated by Section 1101.

     

    ARTICLE
      TWELVE

     

    Supplemental
      Indentures

     

    
      	
              SECTION
                1201. 

            	
              Supplemental
                Indentures Without Consent of
                Holders.

            

    

     

    Without
      the consent of any Holders, the Company and the Trustee, 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:

     

    (a)    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,
      all as provided in Article Eleven; or

     

    (b)    to
      add
      one or more covenants of the Company or other provisions for the benefit of
      all
      Holders or for the benefit of the Holders of, or to remain in effect only so
      long as there shall be Outstanding, Securities of one or more specified series,
      or one or more specified Tranches thereof, or to surrender any right or power
      herein conferred upon the Company; or

     

    (c)    to
      add
      any additional Events of Default with respect to all or any series of Securities
      Outstanding hereunder; or

     

    (d)    to
      change
      or eliminate any provision of this Indenture or to add any new provision to
      this
      Indenture; provided, however, that if such change, elimination or addition
      shall
      adversely affect the interests of the Holders of Securities of any series or
      Tranche Outstanding on the date of such indenture supplemental hereto in any
      material respect, such change, elimination or addition shall become effective
      (i) with respect to such series or Tranche only pursuant to the provisions
      of
      Section 1202 hereof or (ii) when no Security of such series or Tranche remains
      Outstanding; or

     

    (e)    to
      provide collateral security for all but not part of the Securities;
      or

     

    (f)    to
      establish the form or terms of Securities of any series or Tranche as
      contemplated by Sections 201 and 301; or

     

    (g)    to
      provide for the authentication and delivery of bearer securities and coupons
      appertaining thereto representing interest, if any, thereon and for the
      procedures for the registration, exchange and replacement thereof and for the
      giving of notice to, and the solicitation of the vote or consent of, the holders
      thereof, and for any and all other matters incidental thereto; or

     

    
      
        
        

      

      
        54

        
          

        

      

      
        
        

      

    

     

    (h)    to
      evidence and provide for the acceptance of appointment hereunder by a separate
      or successor Trustee or co-trustee with respect to the Securities of one or
      more
      series and to add to or change any of the provisions of this Indenture as shall
      be necessary to provide for or facilitate the administration of the trusts
      hereunder by more than one Trustee, pursuant to the requirements of Section
      911(b); or

     

    (i)    to
      provide for the procedures required to permit the Company to utilize, at its
      option, a non-certificated system of registration for all, or any series or
      Tranche of, the Securities; or

     

    (j)    to
      change
      any place or places where (1) the principal of and premium, if any, and
      interest, if any, on all or any series of Securities, or any Tranche thereof,
      shall be payable, (2) all or any series of Securities, or any Tranche thereof,
      may be surrendered for registration of transfer, (3) all or any series of
      Securities, or any Tranche thereof, may be surrendered for exchange and (4)
      notices and demands to or upon the Company in respect of all or any series
      of
      Securities, or any Tranche thereof, and this Indenture may be served;
      or

     

    (k)
       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
      changes to the provisions hereof or to add other provisions with respect to
      matters or questions arising under this Indenture, provided that such other
      changes or additions shall not adversely affect the interests of the Holders
      of
      Securities of any series or Tranche in any material respect.

     

    Without
      limiting the generality of the foregoing, if the Trust Indenture Act as in
      effect at the date of the execution and delivery of this Indenture or at any
      time thereafter shall be amended and

     

    (x)    if
      any
      such amendment shall require one or more changes to any provisions hereof or
      the
      inclusion herein of any additional provisions, or shall by operation of law
      be
      deemed to effect such changes or incorporate such provisions by reference or
      otherwise, this Indenture shall be deemed to have been amended so as to conform
      to such amendment to the Trust Indenture Act, and the Company and the Trustee
      may, without the consent of any Holders, enter into an indenture supplemental
      hereto to effect or evidence such changes or additional provisions;
      or

     

    (y)    if
      any
      such amendment shall permit one or more changes to, or the elimination of,
      any
      provisions hereof which, at the date of the execution and delivery hereof or
      at
      any time thereafter, are required by the Trust Indenture Act to be contained
      herein, this Indenture shall be deemed to have been amended to effect such
      changes or elimination, and the Company and the Trustee may, without the consent
      of any Holders, enter into an indenture supplemental hereto to evidence such
      amendment hereof.

     

    
      	
              SECTION
                1202. 

            	
              Supplemental
                Indentures With Consent of
                Holders.

            

    

     

    With
      the
      consent of the Holders of a majority in aggregate principal amount of the
      Securities of all series then Outstanding under this Indenture, considered
      as
      one class, by Act of said Holders delivered to the Company and the Trustee,
      the
      Company, when authorized by Board Resolutions, and the Trustee may enter into
      an
      indenture or indentures supplemental hereto for the purpose of adding any
      provisions to, or changing in any manner or eliminating any of the provisions
      of, this Indenture or modifying in any manner the rights of the Holders of
      Securities of such series under the Indenture; provided, however, that if there
      shall be Securities of more than one series Outstanding hereunder and if a
      proposed supplemental indenture shall directly affect the rights of the Holders
      of Securities of one or 

     

    
      
        
        

      

      
        55

        
          

        

      

      
        
        

      

    

     

    more,
      but
      less than all, of such series, then the consent only of the Holders of a
      majority in aggregate principal amount of the Outstanding Securities of all
      series so directly affected, considered as one class, shall be required; and
      provided, further, that if the Securities of any series shall have been issued
      in more than one Tranche and if the proposed supplemental indenture shall
      directly affect the rights of the Holders of Securities of one or more, but
      less
      than all, of such Tranches, then the consent only of the Holders of a majority
      in aggregate principal amount of the Outstanding Securities of all Tranches
      so
      directly affected, considered as one class, shall be required; and provided,
      further, that no such supplemental indenture shall:

     

    (a)    change
      the Stated Maturity of the principal of, or any installment of principal of
      or
      interest on (except as provided in Section 312 hereof), any Security, or reduce
      the principal amount thereof or the rate of interest thereon (or the amount
      of
      any installment of interest thereon) or change the method of calculating such
      rate or reduce any premium payable upon the redemption thereof, or reduce the
      amount of the principal of a Discount Security that would be due and payable
      upon a declaration of acceleration of the Maturity thereof pursuant to
      Section 802, or change the coin or currency (or other property), in which
      any Security or any premium or the interest thereon is payable, or impair the
      right to institute suit for the enforcement of any such payment on or after
      the
      Stated Maturity of any Security (or, in the case of redemption, on or after
      the
      Redemption Date), without, in any such case, the consent of the Holder of such
      Security, or

     

    (b)    reduce
      the percentage in principal amount of the Outstanding Securities of any series
      or any Tranche thereof, the consent of the Holders of which is required for
      any
      such supplemental indenture, or the consent of the Holders of which is required
      for any waiver of compliance with any provision of this Indenture or of any
      default hereunder and its consequences, or reduce the requirements of Section
      1304 for quorum or voting, without, in any such case, the consent of the Holders
      of each Outstanding Security of such series or Tranche, or

     

    (c)    modify
      any of the provisions of this Section, Section 607 or Section 813 with respect
      to the Securities of any series, or any Tranche thereof, or except to increase
      the percentages in principal amount referred to in this Section or such other
      Sections or to provide that other provisions of this Indenture cannot be
      modified or waived without the consent of the Holder of each Outstanding
      Security affected thereby; provided, however, that this clause shall not be
      deemed to require the consent of any Holder with respect to changes in the
      references to “the Trustee” and concomitant changes in this Section, or the
      deletion of this proviso, in accordance with the requirements of Sections
      911(b), 914 and 1201(h).

     

    Notwithstanding
      the foregoing, so long as any of the Preferred Securities remain outstanding,
      the Trustee may not consent to a supplemental indenture under this Section
      1202
      without the prior consent, obtained as provided in a Trust Agreement pertaining
      to a Trust which issued such Preferred Securities, of the holders of a majority
      in aggregate liquidation preference of all Preferred Securities issued by such
      Trust affected, considered as one class, or, in the case of changes described
      in
      clauses (a), (b) and (c) above, 100% in aggregate liquidation preference of
      all
      such Preferred Securities then outstanding which would be affected thereby,
      considered as one class.

     

    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 of one or more
      Tranches thereof, or which modifies the rights of the Holders of Securities
      of
      such series or Tranches 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 or Tranche.

     

    
      
        
        

      

      
        56

        
          

        

      

      
        
        

      

    

     

    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. A waiver by a Holder
      of such Holder’s right to consent under this Section shall be deemed to be a
      consent of such Holder.

     

    
      	
              SECTION
                1203. 

            	
              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 901) shall be fully protected in relying upon, an Opinion
      of
      Counsel stating that the execution of such supplemental indenture is authorized
      or permitted by this Indenture. The Trustee may, but shall not be obligated
      to,
      enter into any such supplemental indenture which affects the Trustee’s own
      rights, duties, immunities or liabilities under this Indenture or
      otherwise.

     

    
      	
              SECTION
                1204. 

            	
              Effect
                of Supplemental
                Indentures.

            

    

     

    Upon
      the
      execution of any supplemental indenture under this Article this Indenture shall
      be modified in accordance therewith, and such supplemental indenture shall
      form
      a part of this Indenture for all purposes; and every Holder of Securities
      theretofore or thereafter authenticated and delivered hereunder shall be bound
      thereby. Any supplemental indenture permitted by this Article may restate this
      Indenture in its entirety, and, upon the execution and delivery thereof, any
      such restatement shall supersede this Indenture as theretofore in effect for
      all
      purposes.

     

    
      	
              SECTION
                1205. 

            	
              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
                1206. 

            	
              Reference
                in Securities to Supplemental
                Indentures.

            

    

     

    Securities
      of any series, or any Tranche thereof, 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, or any Tranche thereof, so modified
      as to conform, in the opinion of the Trustee and the Company, to any such
      supplemental indenture may be prepared and executed by the Company and
      authenticated and delivered by the Trustee in exchange for Outstanding
      Securities of such series or Tranche.

     

    
      	
              SECTION
                1207. 

            	
              Modification
                Without Supplemental
                Indenture.

            

    

     

    If
      the
      terms of any particular series of Securities shall have been established in
      a
      Board Resolution or an Officer’s Certificate pursuant to a Board Resolution as
      contemplated by Section 301, and not in an indenture supplemental hereto,
      additions to, changes in or the elimination of any of such terms may be effected
      by means of a supplemental Board Resolution or Officer’s Certificate, as the
      case may be, delivered to, and accepted in writing by, the Trustee; provided,
      however, that such supplemental Board Resolution or Officer’s Certificate shall
      not be accepted by the Trustee or otherwise be effective unless all conditions
      set forth in this Indenture which would be required to be satisfied if such
      additions, changes or elimination were contained in a supplemental indenture
      shall have been appropriately satisfied. Upon the acceptance thereof by the
      Trustee, any such supplemental Board Resolution or 

     

    
      
        
        

      

      
        57

        
          

        

      

      
        
        

      

    

     

    Officer’s
      Certificate shall be deemed to be a “supplemental indenture” for purposes of
      Sections 1204 and 1206.

     

    ARTICLE
      THIRTEEN

     

    Meetings
      of Holders; Action Without Meeting

     

    
      	
              SECTION
                1301. 

            	
              Purposes
                for Which Meetings May Be
                Called.

            

    

     

    A
      meeting
      of Holders of Securities of one or more, or all, series, or any Tranche or
      Tranches thereof, may be called at any time and from time to time pursuant
      to
      this Article to make, give or take any request, demand, authorization,
      direction, notice, consent, waiver or other action provided by this Indenture
      to
      be made, given or taken by Holders of Securities of such series or
      Tranches.

     

    
      	
              SECTION
                1302. 

            	
              Call,
                Notice and Place of
                Meetings.

            

    

     

    (a)    The
      Trustee may at any time call a meeting of Holders of Securities of one or more,
      or all, series, or any Tranche or Tranches thereof, for any purpose specified
      in
      Section 1301, to be held at such time and at such place in the Borough of
      Manhattan, The City of New York, New York as the Trustee shall determine, or,
      with the approval of the Company, at any other place. Notice of every such
      meeting, setting forth the time and the place of such meeting and in general
      terms the action proposed to be taken at such meeting, shall be given, in the
      manner provided in Section 106, not less than 21 nor more than 180 days prior
      to
      the date fixed for the meeting.

     

    (b)    If
      the
      Trustee shall have been requested to call a meeting of the Holders of Securities
      of one or more, or all, series, or any Tranche or Tranches thereof, by the
      Company or by the Holders of 33% in aggregate principal amount of all of such
      series and Tranches, considered as one class, for any purpose specified in
      Section 1301, by written request setting forth in reasonable detail the action
      proposed to be taken at the meeting, and the Trustee shall not have given the
      notice of such meeting within 21 days after receipt of such request or shall
      not
      thereafter proceed to cause the meeting to be held as provided herein, then
      the
      Company or the Holders of Securities of such series and Tranches in the amount
      above specified, as the case may be, may determine the time and the place in
      the
      Borough of Manhattan, The City of New York, or in such other place as shall
      be
      determined or approved by the Company, for such meeting and may call such
      meeting for such purposes by giving notice thereof as provided in subsection
      (a)
      of this Section.

     

    (c)    Any
      meeting of Holders of Securities of one or more, or all, series, or any Tranche
      or Tranches thereof, shall be valid without notice if the Holders of all
      Outstanding Securities of such series or Tranches are present in person or
      by
      proxy and if representatives of the Company and the Trustee are present, or
      if
      notice is waived in writing before or after the meeting by the Holders of all
      Outstanding Securities of such series, or any Tranche or Tranches thereof,
      or by
      such of them as are not present at the meeting in person or by proxy, and by
      the
      Company and the Trustee.

     

    
      	
              SECTION
                1303. 

            	
              Persons
                Entitled to Vote at
                Meetings.

            

    

     

    To
      be
      entitled to vote at any meeting of Holders of Securities of one or more, or
      all,
      series, or any Tranche or Tranches thereof, a Person shall be (a) a Holder
      of
      one or more Outstanding Securities of such series or Tranches, or (b) a Person
      appointed by an instrument in writing as proxy for a 

     

    
      
        
        

      

      
        58

        
          

        

      

      
        
        

      

    

     

    Holder
      or
      Holders of one or more Outstanding Securities of such series or Tranches by
      such
      Holder or Holders. The only Persons who shall be entitled to attend any meeting
      of Holders of Securities of any series or Tranche shall be the Persons entitled
      to vote at such meeting and their counsel, any representatives of the Trustee
      and its counsel and any representatives of the Company and their
      counsel.

     

    
      	
              SECTION
                1304. 

            	
              Quorum;
                Action.

            

    

     

    The
      Persons entitled to vote a majority in aggregate principal amount of the
      Outstanding Securities of the series and Tranches with respect to which a
      meeting shall have been called as hereinbefore provided, considered as one
      class, shall constitute a quorum for a meeting of Holders of Securities of
      such
      series and Tranches; provided, however, that if any action is to be taken at
      such meeting which this Indenture expressly provides may be taken by the Holders
      of a specified percentage, which is less than a majority, in principal amount
      of
      the Outstanding Securities of such series and Tranches, considered as one class,
      the Persons entitled to vote such specified percentage in principal amount
      of
      the Outstanding Securities of such series and Tranches, considered as one class,
      shall constitute a quorum. In the absence of a quorum within one hour of the
      time appointed for any such meeting, the meeting shall, if convened at the
      request of Holders of Securities of such series and Tranches, be dissolved.
      In
      any other case the meeting may be adjourned for such period as may be determined
      by the chairman of the meeting prior to the adjournment of such meeting. In
      the
      absence of a quorum at any such adjourned meeting, such adjourned meeting may
      be
      further adjourned for such period as may be determined by the chairman of the
      meeting prior to the adjournment of such adjourned meeting. Except as provided
      by Section 1305(e), notice of the reconvening of any meeting adjourned for
      more
      than 30 days shall be given as provided in Section 1302(a) not less than 10
      days
      prior to the date on which the meeting is scheduled to be reconvened. Notice
      of
      the reconvening of an adjourned meeting shall state expressly the percentage,
      as
      provided above, of the principal amount of the Outstanding Securities of such
      series and Tranches which shall constitute a quorum.

     

    Except
      as
      limited by Section 1202, any resolution presented to a meeting or adjourned
      meeting duly reconvened at which a quorum is present as aforesaid may be adopted
      only by the affirmative vote of the Holders of a majority in aggregate principal
      amount of the Outstanding Securities of the series and Tranches with respect
      to
      which such meeting shall have been called, considered as one class; provided,
      however, that, except as so limited, any resolution with respect to any action
      which this Indenture expressly provides may be taken by the Holders of a
      specified percentage, which is less than a majority, in principal amount of
      the
      Outstanding Securities of such series and Tranches, considered as one class,
      may
      be adopted at a meeting or an adjourned meeting duly reconvened and at which
      a
      quorum is present as aforesaid by the affirmative vote of the Holders of such
      specified percentage in principal amount of the Outstanding Securities of such
      series and Tranches, considered as one class.

     

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

     

    
      	
              SECTION
                1305. 

            	
              Attendance
                at Meetings; Determination of Voting Rights; Conduct and Adjournment
                of
                Meetings.

            

    

     

    (a)    Attendance
      at meetings of Holders of Securities may be in person or by proxy; and, to
      the
      extent permitted by law, any such proxy shall remain in effect and be binding
      upon any future Holder of the Securities with respect to which it was given
      unless and until specifically revoked by the Holder or future Holder of such
      Securities before being voted.

     

    
      
        
        

      

      
        59

        
          

        

      

      
        
        

      

    

     

    (b)    Notwithstanding
      any other provisions of this Indenture, the Trustee may make such reasonable
      regulations as it may deem advisable for any meeting of Holders of Securities
      in
      regard to proof of the holding of such Securities and of the appointment of
      proxies and in regard to the appointment and duties of inspectors of votes,
      the
      submission and examination of proxies, certificates and other evidence of the
      right to vote, and such other matters concerning the conduct of the meeting
      as
      it shall deem appropriate. Except as otherwise permitted or required by any
      such
      regulations, the holding of Securities shall be proved in the manner specified
      in Section 104 and the appointment of any proxy shall be proved in the manner
      specified in Section 104. Such regulations may provide that written instruments
      appointing proxies, regular on their face, may be presumed valid and genuine
      without the proof specified in Section 104 or other proof.

     

    (c)    The
      Trustee shall, by an instrument in writing, appoint a temporary chairman of
      the
      meeting, unless the meeting shall have been called by the Company or by Holders
      as provided in Section 1302(b), in which case the Company or the Holders of
      Securities of the series and Tranches calling the meeting, as the case may
      be,
      shall in like manner appoint a temporary chairman. A permanent chairman and
      a
      permanent secretary of the meeting shall be elected by vote of the Persons
      entitled to vote a majority in aggregate principal amount of the Outstanding
      Securities of all series and Tranches represented at the meeting, considered
      as
      one class.

     

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

     

    (e)    Any
      meeting duly called pursuant to Section 1302 at which a quorum is present may
      be
      adjourned from time to time by Persons entitled to vote a majority in aggregate
      principal amount of the Outstanding Securities of all series and Tranches
      represented at the meeting, considered as one class; and the meeting may be
      held
      as so adjourned without further notice.

     

    
      	
              SECTION
                1306. 

            	
              Counting
                Votes and Recording Action of
                Meetings.

            

    

     

    The
      vote
      upon any resolution submitted to any meeting of Holders shall be by written
      ballots on which shall be subscribed the signatures of the Holders or of their
      representatives by proxy and the principal amounts and serial numbers of the
      Outstanding Securities, of the series and Tranches with respect to which the
      meeting shall have been called, held or represented by them. The permanent
      chairman of the meeting shall appoint two inspectors of votes who shall count
      all votes cast at the meeting for or against any resolution and who shall make
      and file with the secretary of the meeting their verified written reports of
      all
      votes cast at the meeting. A record in triplicate of the proceedings of each
      meeting of Holders shall be prepared by the secretary of the meeting and there
      shall be attached to said record the original reports of the inspectors of
      votes
      on any vote by ballot taken thereat and affidavits by one or more persons having
      knowledge of the facts setting forth a copy of the notice of the meeting and
      showing that said notice was given as provided in Section 1302 and, if
      applicable, Section 1304. Each copy shall be signed and verified by the
      affidavits of the permanent chairman and secretary of the meeting and one such
      copy shall be delivered to each of the Company and the Trustee to be preserved
      by the Trustee, the latter to have attached thereto the ballots voted at the
      meeting. Any record so signed and verified shall be conclusive evidence of
      the
      matters therein stated.

     

    
      
        
        

      

      
        60

        
          

        

      

      
        
        

      

    

     

    
      	
              SECTION
                1307. 

            	
              Action
                Without Meeting.

            

    

     

    In
      lieu
      of a vote of Holders at a meeting as hereinbefore contemplated in this Article,
      any request, demand, authorization, direction, notice, consent, waiver or other
      action may be made, given or taken by Holders by written instruments as provided
      in Section 104.

     

    ARTICLE
      FOURTEEN

     

    Subordination
      of Securities

     

    
      	
              SECTION
                1401. 

            	
              Securities
                Subordinate to Senior Indebtedness of the
                Company.

            

    

     

    The
      Company, for itself, its successors and assigns, covenants and agrees, and
      each
      Holder of the Securities of each series, by its acceptance thereof, likewise
      covenants and agrees, that the payment of the principal of and premium, if
      any,
      and interest ( including any Additional Interest), if any, on each and all
      of
      the Securities is hereby expressly subordinated and junior in right of payment,
      and subject, to the extent and in the manner set forth in this Article, in
      right
      of payment to the prior payment in full of all Senior Indebtedness of the
      Company.

     

    Each
      Holder of the Securities of each series, by its acceptance thereof, authorizes
      and directs the Trustee on its behalf to take such action as may be necessary
      or
      appropriate to effectuate the subordination as provided in this Article, and
      appoints the Trustee its attorney-in-fact for any and all such
      purposes.

     

    
      	
              SECTION
                1402. 

            	
              Payment
                Over of Proceeds of
                Securities.

            

    

     

    In
      the
      event (a) of any insolvency or bankruptcy proceedings or any receivership,
      liquidation, reorganization or other similar proceedings in respect of the
      Company or a substantial part of its property and assets, or of any proceedings
      for liquidation, dissolution or other winding up of the Company, whether or
      not
      involving insolvency or bankruptcy, or (b) subject to the provisions of
      Section 1403, that (i) a default shall have occurred with respect to the
      payment of principal of or interest on or other monetary amounts due and payable
      on any Senior Indebtedness, or (ii) there shall have occurred a default (other
      than a default in the payment of principal or interest or other monetary amounts
      due and payable) in respect of any Senior Indebtedness, as defined therein
      or in
      the instrument under which the same is outstanding, permitting the holder or
      holders thereof, or any other Person on its or their behalf to accelerate the
      maturity thereof (with notice or lapse of time, or both), and such default
      shall
      have continued beyond the period of grace, if any, in respect thereof, and,
      in
      the cases of subclauses (i) and (ii) of this clause (b), such default shall
      not
      have been cured or waived or shall not have ceased to exist, or (c) that the
      principal of and/or premium, if any, and/or accrued interest (including
      Additional Interest), if any, on the Securities of any series shall have been
      declared due and payable pursuant to Section 801 and such declaration shall
      not
      have been rescinded and annulled as provided in Section 802, then:

     

    (1)    the
      holders of all Senior Indebtedness shall first be entitled to receive payment
      of
      the full amount due thereon, or provision shall be made for such payment in
      money or money’s worth, before the Holders of any of the Securities are entitled
      to receive a payment on account of the principal of, premium if any, or interest
      on the indebtedness evidenced by the Securities, including, without limitation,
      any payments made pursuant to Articles Four and Five;

     

    (2)    any
      payment by, or distribution of property or assets of, the Company of any kind
      or
      character, whether in cash, property or securities, to which any Holder or
      the
      Trustee would be entitled except for the provisions of this Article, shall
      be
      paid or delivered by the Person making 

     

    
      
        
        

      

      
        61

        
          

        

      

      
        
        

      

    

     

    such
      payment or distribution, whether a trustee in bankruptcy, a receiver or
      liquidating trustee or otherwise, directly to the holders of such Senior
      Indebtedness or their representative or representatives or to the trustee or
      trustees under any indenture under which any instruments evidencing any of
      such
      Senior Indebtedness may have been issued, ratably according to the aggregate
      amounts remaining unpaid on account of such Senior Indebtedness held or
      represented by each, to the extent necessary to make payment in full of all
      Senior Indebtedness remaining unpaid after giving effect to any concurrent
      payment or distribution (or provision therefor) to the holders of such Senior
      Indebtedness, before any payment or distribution is made to the Holders of
      the
      indebtedness evidenced by the Securities or to the Trustee under this Indenture;
      and

     

    (3)
       in
      the
      event that, notwithstanding the foregoing, any payment by, or distribution
      of
      property or assets of, the Company of any kind or character, whether in cash,
      property or securities, in respect of principal of, or premium, if any, or
      interest on the Securities or in connection with any repurchase by the Company
      of the Securities, shall be received by the Trustee or any Holder before all
      Senior Indebtedness is paid in full, or provision is made for such payment
      in
      money or money’s worth, such payment or distribution in respect of principal of,
      or premium, if any, or interest on the Securities or in connection with any
      repurchase by the Company of the Securities shall be paid over to the holders
      of
      such Senior Indebtedness or their representative or representatives or to the
      trustee or trustees under any indenture under which any instruments evidencing
      any such Senior Indebtedness may have been issued, ratably as aforesaid, for
      application to the payment of all Senior Indebtedness remaining unpaid until
      all
      such Senior Indebtedness shall have been paid in full, after giving effect
      to
      any concurrent payment or distribution (or provision therefor) to the holders
      of
      such Senior Indebtedness.

     

    Notwithstanding
      the foregoing, at any time after the 123rd day following the date of deposit
      of
      cash or Eligible Obligations pursuant to Section 701 or 702 (provided all
      conditions set out in such Section shall have been satisfied), the funds so
      deposited and any interest thereon will not be subject to any rights of holders
      of Senior Indebtedness including, without limitation, those arising under this
      Article Fourteen; provided that no event described in clauses (d) and (e) of
      Section 801 with respect to the Company has occurred during such 123-day
      period.

     

    For
      purposes of this Article only, the words “cash, property or securities” shall
      not be deemed to include shares of stock of the Company as reorganized or
      readjusted, or securities of the Company or any other Person provided for by
      a
      plan of reorganization or readjustment which are subordinate in right of payment
      to all Senior Indebtedness which may at the time be outstanding to the same
      extent as, or to a greater extent than, the Securities are so subordinated
      as
      provided in this Article. The consolidation of the Company with, or the merger
      of the Company into, another Person or the liquidation or dissolution of the
      Company following the conveyance or transfer of its property and assets as
      an
      entirety, or substantially as an entirety, to another Person upon the terms
      and
      conditions provided for in Article Eleven hereof shall not be deemed a
      dissolution, winding-up, liquidation or reorganization for the purposes of
      this
      Section 1402 if such other Person shall, as a part of such consolidation,
      merger, conveyance or transfer, comply with the conditions stated in Article
      Eleven hereof. Nothing in Section 1401 or in this Section 1402 shall apply
      to
      claims of, or payments to, the Trustee under or pursuant to Section
      907.

     

    
      	
              SECTION
                1403. 

            	
              Disputes
                with Holders of Certain Senior
                Indebtedness.

            

    

     

    Any
      failure by the Company to make any payment on or perform any other obligation
      in
      respect of Senior Indebtedness, other than any indebtedness incurred by the
      Company or assumed or guaranteed, directly or indirectly, by the Company for
      money borrowed (or any deferral, renewal, extension or refunding thereof) or
      any
      other obligation as to which the provisions of this Section shall 

     

    
      
        
        

      

      
        62

        
          

        

      

      
        
        

      

    

     

    have
      been
      waived by the Company in the instrument or instruments by which the Company
      incurred, assumed, guaranteed or otherwise created such indebtedness or
      obligation, shall not be deemed a default under clause (b) of Section 1402
      if
      (i) the Company shall be disputing its obligation to make such payment or
      perform such obligation and (ii) either (A) no final judgment relating to such
      dispute shall have been issued against the Company which is in full force and
      effect and is not subject to further review, including a judgment that has
      become final by reason of the expiration of the time within which a party may
      seek further appeal or review, or (B) in the event that a judgment that is
      subject to further review or appeal has been issued, the Company shall in good
      faith be prosecuting an appeal or other proceeding for review and a stay or
      execution shall have been obtained pending such appeal or review.

     

    
      	
              SECTION
                1404. 

            	
              Subrogation.

            

    

     

    Senior
      Indebtedness shall not be deemed to have been paid in full unless the holders
      thereof shall have received cash (or securities or other property satisfactory
      to such holders) in full payment of such Senior Indebtedness then outstanding.
      Upon the payment in full of all Senior Indebtedness, the rights of the Holders
      of the Securities shall be subrogated to the rights of the holders of Senior
      Indebtedness to receive any further payments or distributions of cash, property
      or securities of the Company applicable to the holders of the Senior
      Indebtedness until all amounts owing on the Securities shall be paid in full;
      and such payments or distributions of cash, property or securities received
      by
      the Holders of the Securities, by reason of such subrogation, which otherwise
      would be paid or distributed to the holders of such Senior Indebtedness shall,
      as between the Company, its creditors other than the holders of Senior
      Indebtedness, and the Holders, be deemed to be a payment by the Company to
      or on
      account of Senior Indebtedness, it being understood that the provisions of
      this
      Article are and are intended solely for the purpose of defining the relative
      rights of the Holders, on the one hand, and the holders of the Senior
      Indebtedness, on the other hand.

     

    
      	
              SECTION
                1405. 

            	
              Obligation
                of the Company
                Unconditional.

            

    

     

    Nothing
      contained in this Article or elsewhere in this Indenture or in the Securities
      is
      intended to or shall impair, as among the Company, its creditors other than
      the
      holders of Senior Indebtedness and the Holders, the obligation of the Company,
      which is absolute and unconditional, to pay to the Holders the principal of,
      premium, if any, and interest (including Additional Interest), if any, on the
      Securities as and when the same shall become due and payable in accordance
      with
      their terms, or is intended to or shall affect the relative rights of the
      Holders and creditors of the Company other than the holders of Senior
      Indebtedness, nor shall anything herein or therein prevent the Trustee or any
      Holder from exercising all remedies otherwise permitted by applicable law upon
      default under this Indenture, subject to the rights, if any, under this Article
      of the holders of Senior Indebtedness in respect of cash, property or securities
      of the Company received upon the exercise of any such remedy.

     

    Upon
      any
      payment or distribution of assets, cash or property or securities of the Company
      referred to in this Article, the Trustee and the Holders shall be entitled
      to
      rely upon any order or decree of a court of competent jurisdiction in which
      such
      dissolution, winding up, liquidation or reorganization proceedings are pending
      for the purpose of ascertaining the Persons entitled to participate in such
      distribution, the holders of the Senior Indebtedness and other indebtedness
      of
      the Company, the amount thereof or payable thereon, the amount or amounts paid
      or distributed thereon, and all other facts pertinent thereto or to this
      Article.

     

    The
      Trustee shall be entitled to rely on the delivery to it of a written notice
      by a
      Person representing himself to be a holder of Senior Indebtedness (or a
      representative of such holder or a trustee under any indenture under which
      any
      instruments evidencing any such Senior Indebtedness may have been issued) to
      establish that such notice has been given by a holder of such Senior
      Indebtedness or such 

     

    
      
        
        

      

      
        63

        
          

        

      

      
        
        

      

    

     

    representative
      or trustee on behalf of such holder. In the event that the Trustee determines
      in
      good faith that further evidence is required with respect to the right of any
      Person as a holder of Senior Indebtedness, or its representative or
      representatives or trustee or trustees under any indenture under which any
      instruments evidencing any such Senior Indebtedness may have been issued, to
      participate in any payment or distribution pursuant to this Article, the Trustee
      may request such Person to furnish evidence to the reasonable satisfaction
      of
      the Trustee as to the amount of Senior Indebtedness held by such Person, the
      extent to which such Person is entitled to participate in such payment or
      distribution and any other facts pertinent to the right of such Person under
      this Article, and, if such evidence is not furnished, the Trustee may defer
      any
      payment to such Person pending judicial determination as to the right of such
      Person to receive such payment or distribution.

     

    
      	
              SECTION
                1406. 

            	
              Priority
                of Senior Indebtedness Upon
                Maturity.

            

    

     

    Upon
      the
      maturity of the principal of any Senior Indebtedness by lapse of time,
      acceleration or otherwise, all matured principal of Senior Indebtedness and
      interest, premium and other payment obligation, if any, thereon shall first
      be
      paid in full before any payment of principal or premium, if any, or interest
      (including Additional Interest), if any, is made upon the Securities or before
      any Securities can be acquired by the Company or any sinking fund payment is
      made with respect to the Securities (except that required sinking fund payments
      may be reduced by Securities acquired before such maturity of such Senior
      Indebtedness).

     

    
      	
              SECTION
                1407. 

            	
              Trustee
                as Holder of Senior
                Indebtedness.

            

    

     

    The
      Trustee shall be entitled to all rights set forth in this Article with respect
      to any Senior Indebtedness at any time held by it, to the same extent as any
      other holder of Senior Indebtedness. Nothing in this Article shall deprive
      the
      Trustee of any of its rights as such holder.

     

    
      	
              SECTION
                1408. 

            	
              Notice
                to Trustee to Effectuate
                Subordination.

            

    

     

    Notwithstanding
      the provisions of this Article or any other provision of this Indenture, the
      Trustee shall not be charged with knowledge of the existence of any facts which
      would prohibit the making of any payment of moneys to or by the Trustee unless
      and until the Trustee shall have received written notice thereof from the
      Company, from a Holder or from a holder of any Senior Indebtedness or from
      any
      representative or representatives of such holder or any trustee or trustees
      under any indenture under which any instruments evidencing any such Senior
      Indebtedness may have been issued and, prior to the receipt of any such written
      notice, the Trustee shall be entitled, subject to Section 901, in all respects
      to assume that no such facts exist; provided, however, that, if prior to the
      fifth Business Day preceding the date upon which by the terms of this Indenture
      any such moneys may become payable for any purpose, or in the event of the
      execution of an instrument pursuant to Section 701 or 702 acknowledging that
      Securities or portions thereof are deemed to have been paid for all purposes
      of
      this Indenture, acknowledging that the entire indebtedness of the Company in
      respect thereof has been satisfied and discharged or acknowledging satisfaction
      and discharge of this Indenture, then if prior to the second Business Day
      preceding the date of such execution, the Trustee shall not have received with
      respect to such moneys the notice provided for in this Section, then, anything
      herein contained to the contrary notwithstanding, the Trustee may, in its
      discretion, receive such moneys and/or apply the same to the purpose for which
      they were received, and shall not be affected by any notice to the contrary,
      which may be received by it on or after such date; provided, however, that
      no
      such application shall affect the obligations under this Article of the persons
      receiving such moneys from the Trustee.

     

    
      
        
        

      

      
        64

        
          

        

      

      
        
        

      

    

     

    
      	
              SECTION
                1409. 

            	
              Modification,
                Extension, etc. of Senior
                Indebtedness.

            

    

     

    The
      holders of Senior Indebtedness or their representative or representatives or
      the
      trustee or trustees under any indenture under which any instruments evidencing
      any such Senior Indebtedness may have been issued may, without affecting in
      any
      manner the subordination of the payment of the principal of and premium, if
      any,
      and interest (including Additional Interest), if any, on the Securities, at
      any
      time or from time to time and in their absolute discretion, agree with the
      Company to change the manner, place or terms of payment, change or extend the
      time of payment of, or renew or alter, any Senior Indebtedness, or amend or
      supplement any instrument pursuant to which any Senior Indebtedness is issued,
      or exercise or refrain from exercising any other of their rights under the
      Senior Indebtedness including, without limitation, the waiver of default
      thereunder, all without notice to or assent from the Holders or the
      Trustee.

     

    
      	
              SECTION
                1410. 

            	
              Trustee
                Has No Fiduciary Duty to Holders of Senior
                Indebtedness.

            

    

     

    With
      respect to the holders of Senior Indebtedness, the Trustee undertakes to perform
      or to observe only such of its covenants and objectives as are specifically
      set
      forth in this Indenture, and no implied covenants or obligations with respect
      to
      the holders of Senior Indebtedness shall be read into this Indenture against
      the
      Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the
      holders of Senior Indebtedness, and shall not be liable to any such holders
      if
      it shall mistakenly pay over or deliver to the Holders or the Company or any
      other Person, money or assets to which any holders of Senior Indebtedness shall
      be entitled by virtue of this Article or otherwise.

     

    
      	
              SECTION
                1411. 

            	
              Paying
                Agents Other Than the
                Trustee.

            

    

     

    In
      case
      at any time any Paying Agent other than the Trustee shall have been appointed
      by
      the Company and be then acting hereunder, the term “Trustee” as used in this
      Article shall in such case (unless the context shall otherwise require) be
      construed as extending to and including such Paying Agent within its meaning
      as
      fully for all intents and purposes as if such Paying Agent were named in this
      Article in addition to or in place of the Trustee; provided, however, that
      Sections 1407, 1408 and 1410 shall not apply to the Company if it acts as Paying
      Agent.

     

    
      	
              SECTION
                1412. 

            	
              Rights
                of Holders of Senior Indebtedness Not
                Impaired.

            

    

     

    No
      right
      of any present or future holder of Senior Indebtedness to enforce the
      subordination herein shall at any time or in any way be prejudiced or impaired
      by any act or failure to act on the part of the Company or by any noncompliance
      by the Company with the terms, provisions and covenants of this Indenture,
      regardless of any knowledge thereof any such holder may have or be otherwise
      charged with.

     

    
      	
              SECTION
                1413. 

            	
              Effect
                of Subordination Provisions;
                Termination.

            

    

     

    Notwithstanding
      anything contained herein to the contrary, other than as provided in the
      immediately succeeding sentence, all the provisions of this Indenture shall
      be
      subject to the provisions of this Article, so far as the same may be applicable
      thereto.

     

    Notwithstanding
      anything contained herein to the contrary, the provisions of this Article
      Fourteen shall be of no further effect, and the Securities shall no longer
      be
      subordinated in right of payment to the prior payment of Senior Indebtedness,
      if, and to the extent, the Company shall have delivered to the Trustee a notice
      to such effect. Any such notice delivered by the Company shall not be deemed
      to
      be a supplemental indenture for purposes of Article Twelve.

     

    
      
        
        

      

      
        65

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      FIFTEEN

     

    Immunity
      of Incorporators, Stockholders, Officers and Directors

     

    
      	
              SECTION
                1501. 

            	
              Liability
                Solely Corporate.

            

    

     

    No
      recourse shall be had for the payment of the principal of or premium, if any,
      or
      interest (including Additional Interest), if any, on any Securities, or any
      part
      thereof, or for any claim based thereon or otherwise in respect thereof, or
      of
      the indebtedness represented thereby, or upon any obligation, covenant or
      agreement under this Indenture, against any incorporator, stockholder, officer
      or director, as such, past, present or future of the Company or of any
      predecessor or successor of the Company (either directly or through the Company,
      or a predecessor or successor of the Company), whether by virtue of any
      constitutional provision, statute or rule of law, or by the enforcement of
      any
      assessment or penalty or otherwise; it being expressly agreed and understood
      that this Indenture and all the Securities are solely corporate obligations,
      and
      that, except as otherwise provided as contemplated by Section 301, no personal
      liability whatsoever shall attach to, or be incurred by, any incorporator,
      stockholder, officer or director, past, present or future, of the Company or
      of
      any predecessor or successor of the Company, either directly or indirectly
      through the Company or any predecessor or successor of the Company, because
      of
      the indebtedness hereby authorized or under or by reason of any of the
      obligations, covenants or agreements contained in this Indenture or in any
      of
      the Securities or to be implied herefrom or therefrom, and that any such
      personal liability is hereby expressly waived and released as a condition of,
      and as part of the consideration for, the execution of this Indenture and the
      issuance of the Securities.

     

    _________________________

     

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

     

    
      
        
        

      

      
        66

        
          

        

      

      
        
        

      

    

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

     

    
      	
            	
              FLORIDA POWER & LIGHT COMPANY,

              as Issuer

               

               

            
	
            	By:	 
	 	 	
              Name:

              Title:        

            

      
        	 	 	 
	 	 	 

      

      
        	
              	
                THE BANK OF NEW YORK,

                as Trustee

                 

                 

              
	
              	By:	 
	 	 	
                Name:

                Title:

              

 

      
        
          
          

        

        
          67Unassociated Document

    Exhibit
      4(bc)

     

    FLORIDA
      POWER & LIGHT COMPANY

     

    OFFICER’S
      CERTIFICATE

     

    Creating
      the ___ Junior Subordinated Debentures, Series due __ 

     

    ____________,
      the ___________________________________ of Florida Power & Light Company
      (the “Company”), pursuant to the authority granted in the accompanying Board
      Resolutions (all capitalized terms used herein which are not defined herein
      or
      in Exhibit A hereto, but are defined in the Indenture referred to below, shall
      have the meanings specified in the Indenture), and Sections 201 and 301 of
      the
      Indenture, does hereby certify to The Bank of New York (the “Trustee”), as
      Trustee under the Indenture of the Company (For Unsecured Subordinated Debt
      Securities relating to Trust Securities) dated as of __________, 200__ (the
      “Indenture”) that:

     

    
      	
              1.
                

            	
              The
                securities to be issued under the Indenture shall be designated “_____
                Junior Subordinated Debentures, Series due ___” (the “Debentures of the
                ____ Series”) and shall be issued in substantially the form set forth in
                Exhibit A hereto. The Debentures of the ____ Series are to be issued
                to
                The Bank of New York, as Property Trustee (the “Property Trustee”) of
                Florida Power & Light Company Trust __, a Delaware statutory trust
                (the “Trust”);

            

    

     

    
      	
              2.
                

            	
              The
                Debentures of the ____ Series shall mature and the principal shall
                be due
                and payable together with all accrued and unpaid interest thereon
                on
                ___________, ____;

            

    

     

    
      	
              3.
                

            	
              The
                Debentures of the ____ Series shall bear interest as provided in
                the form
                thereof set forth as Exhibit A
                hereto;

            

    

     

    
      	
              4.
                

            	
              Each
                installment of interest on a Debenture of the ____ Series shall be
                payable
                as provided in the form thereof set forth as Exhibit A
                hereto;

            

    

     

    
      	
              5.
                

            	
              Registration
                and registration of transfers and exchanges in respect of the Debentures
                of the ____ Series may be effected at the office or agency of the
                Company
                in The City of New York, New York. Notices and demands to or upon
                the
                Company in respect of the Debentures of the ____ Series may be served
                at
                the office or agency of the Company in The City of New York, New
                York. The
                Corporate Trust Office of the Trustee will initially be the agency
                of the
                Company for such payment, registration and registration of transfers
                and
                exchanges and service of notices and demands and the Company hereby
                appoints the Trustee as its agent for all such purposes; provided,
                however, that the Company reserves the right to change, by one or
                more
                Officer’s Certificates, any such office or agency and such agent. The
                Trustee will initially be the Security Registrar and the Paying Agent
                for
                the Debentures of the ____ Series;

            

    

     

    
      	
              6.
                

            	
              The
                Regular Record Date for the interest payable on any given Interest
                Payment
                Date with respect to the Debentures of the ____ Series shall be the
                close
                of business on the 15th calendar day next preceding such Interest
                Payment
                Date, provided that if the Debentures of the ______ Series are held
                by a
                securities depository in book-entry form, the Regular Record Date
                will be
                the close of business on the Business Day immediately preceding such
                Interest Payment Date;

            

    

     

    
      	
              7.
                

            	
              [Redemption
                provisions, if any will be
                inserted];

            

    

     

    
      	
              8.
                

            	
              [If
                at any time a Tax Event (as defined in the form of the Debentures
                of the
                _____ Series set forth as Exhibit A hereto) shall occur and be continuing,
                and either (i) in the opinion of tax counsel to the Trust or the
                Company experienced in such matters, there would in all cases, after
                effecting the

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              dissolution
                of the Trust, after satisfaction of liabilities to creditors of the
                Trust,
                if any, as provided by applicable law, and the distribution of the
                Debentures of the ____ Series to the holders of the Preferred Trust
                Securities issued by the Trust (the “Preferred Trust Securities”), in
                exchange therefor, be more than an insubstantial risk that an Adverse
                Tax
                Consequence (as defined in the form of the Debentures of the ____
                Series
                set forth as Exhibit A hereto) would continue to exist or (ii) the
                Debentures of the ____ Series are not held by the Trust, then the
                Company
                shall have the right to redeem the Debentures of the ____ Series,
                in whole
                but not in part, at any time within 90 days following the occurrence
                of
                the Tax Event, at 100% of the principal amount thereof plus accrued
                and
                unpaid interest thereon, including Additional Interest, if any, to
                the
                Redemption Date;]

            

    

     

    [If
      at
      any time an Investment Company Act Event (as defined in the form of the
      Debentures of the ____ Series set forth as Exhibit A hereto) shall occur and
      be
      continuing, then the Company shall have the right to redeem the Debentures
      of
      the ____ Series, in whole, but not in part, at any time within 90 days following
      the occurrence of the Investment Company Act Event, at 100% of the principal
      amount thereof plus accrued and unpaid interest thereon, including Additional
      Interest, if any, to the Redemption Date;]

     

    
      	
              9.
                

            	
              So
                long as any Debentures of the ____ Series are Outstanding, the failure
                of
                the Company to pay interest, including Additional Interest, if any,
                on any
                Debentures of the ____ Series within 30 days after the same becomes
                due
                and payable (whether or not payment is prohibited by the subordination
                provisions of Article Fourteen of the Indenture) shall constitute
                an Event
                of Default; provided, however, that a valid extension of the interest
                payment period by the Company as contemplated in Section 312 of the
                Indenture and paragraph (10) of this Certificate shall not constitute
                a
                failure to pay interest for this
                purpose;

            

    

     

    
      	
              10.
                

            	
              Pursuant
                to Section 312 of the Indenture, so long as no Event of Default under
                the
                Indenture has occurred and is continuing with respect to the Securities
                of
                any series, the Company shall have the right, at any time and from
                time to
                time during the term of the Debentures of the ____ Series, to extend
                the
                interest payment period to a period not exceeding 20 consecutive
                quarterly
                periods (an “Extension Period”); provided that no Extension Period shall
                extend beyond the Stated Maturity or end on a day other than an Interest
                Payment Date. During the Extension Period interest (calculated for
                each
                Interest Period in the manner provided for in Exhibit A hereto, as
                if the
                interest payment period had not been so extended) will be compounded
                [quarterly]. At the end of the Extension Period, which shall be an
                Interest Payment Date, the Company shall pay all interest accrued
                and
                unpaid thereon (together with interest thereon at the rate specified
                for
                the Debentures of the ______ Series, compounded [quarterly], to the
                extent
                permitted by applicable law) and Additional Interest, if any, to
                the
                Person in whose name the Debentures of the____ Series are registered
                at
                the close of business on the Regular Record Date for the Interest
                Payment
                Date on which such Extension Period ended; provided that any such
                accrued
                and unpaid interest payable at Stated Maturity or any Redemption
                Date will
                be paid to the Person to whom principal is payable. With respect
                to the
                Debentures of _____ Series, the term “Interest Period” shall mean each
                period from, and including, an Interest Payment Date to, but excluding,
                the next succeeding Interest Payment Date, except that the first
                Interest
                Period shall commence on the date of original issuance. However,
                during
                any such Extension Period, the Company shall
                not

            

    

     

    (A)    declare
      or pay any dividends or distributions on its capital stock, or 

     

    (B)    
redeem,
      purchase, acquire or make a liquidation payment with respect to any of its
      capital stock, or 

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    (C)    
pay
      any
      principal, interest or premium on, or repay, repurchase or redeem any debt
      securities that are equal or junior in right of payment to the Debentures of
      the
      _____ Series; or

     

    (D)    make
      any
      payments with respect to any guarantee of debt securities by the Company if
      such
      guarantee is equal or junior in right of payment to the Debentures of the _____
      Series (“Restricted Payments”).

     

    The
      foregoing provisions shall not prevent or restrict the Company from making:
      

     

    (a)     purchases,
      redemptions or other acquisitions of its capital stock in connection with any
      employment contract, benefit plan or other similar arrangement with or for
      the
      benefit of employees, officers, directors or agents or a stock purchase or
      dividend reinvestment plan, or the satisfaction of its obligations pursuant
      to
      any contract or security outstanding on the date that the interest payment
      period is extended requiring it to purchase, redeem or acquire its capital
      stock;

     

    (b)     any
      payment, repayment, redemption, purchase, acquisition or declaration of dividend
      described in clauses (A) and (B) above as a result of a reclassification of
      its
      capital stock, or the exchange or conversion of all or a portion of one class
      or
      series of its capital stock for another class or series of its capital
      stock;

     

    (c)     the
      purchase of fractional interests in shares of its capital stock pursuant to
      the
      conversion or exchange provisions of its capital stock or the security being
      converted or exchanged, or in connection with the settlement of stock purchase
      contracts;

     

    (d)     dividends
      or distributions paid or made in its capital stock (or rights to acquire its
      capital stock), or repurchases, redemptions or acquisitions of capital stock
      in
      connection with the issuance or exchange of capital stock (or of securities
      convertible into or exchangeable for shares of its capital stock and
      distributions in connection with the settlement of stock purchase
      contracts);

     

    (e)     redemptions,
      exchanges or repurchases of, or with respect to, any rights outstanding under
      a
      shareholder rights plan or the declaration or payment thereunder of a dividend
      or distribution of or with respect to rights in the future; or

     

    (f)     payments
      under any preferred trust securities guarantee or guarantee of junior
      subordinated debentures executed and delivered by the Company concurrently
      with
      the issuance by a trust of any preferred trust securities, so long as the amount
      of payments made on any preferred trust securities or junior subordinated
      debentures (as the case may be) is paid on all preferred trust securities or
      junior subordinated debentures (as the case may be) then outstanding on a pro
      rata basis in proportion to the full distributions to which each series of
      preferred trust securities or junior subordinated debentures (as the case may
      be) is then entitled if paid in full.

     

    Prior
      to
      the termination of any such Extension Period, the Company may further extend
      the
      interest payment period, provided that such Extension Period together with
      all
      such previous and further extensions thereof shall not exceed 20 consecutive
      quarterly periods at any one time or extend beyond the Maturity of the
      Debentures of the ____ Series. Upon the termination of any such Extension Period
      and the payment of all amounts then due, including interest on deferred interest
      payments, the Company may elect to begin a new Extension Period, subject to
      the
      above 

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    requirements.
      No interest shall be due and payable during an Extension Period, except at
      the
      end thereof. The Company will give the Trust and the Trustee notice of its
      election of an Extension Period before the earlier of (i) the Business Day
      prior
      to the record date for the distribution on the Preferred Trust Securities which
      would occur but for such election or (ii) the date the Administrative Trustees
      of the Trust are required to give notice to any securities exchange or any
      other
      applicable self-regulatory organization of the record date for such
      distribution. The Trustee will cause the Trust to send notice of such election
      to the holders of Preferred Trust Securities;

     

    
      	
              11.
                

            	
              At
                any time, the Company will have the right to dissolve the Trust and,
                after
                satisfaction of liabilities to creditors, if any, of the Trust as
                provided
                by applicable law, cause a proportionate amount of the Debentures
                of the
                ____ Series to be distributed to the holders of the Preferred Trust
                Securities and the Common Trust
                Securities;

            

    

     

    
      	
              12.
                

            	
              In
                the event that, at any time subsequent to the initial authentication
                and
                delivery of the Debentures of the ____ Series, the Debentures of
                the ____
                Series are to be held in global form by a securities depositary,
                the
                Company may at such time establish the matters contemplated in clause
                (r)
                in the second paragraph of Section 301 of the Indenture in an Officer’s
                Certificate supplemental to this
                certificate;

            

    

     

    
      	
              13.
                

            	
              No
                service charge shall be made for the registration of transfer or
                exchange
                of the Debentures of the ____ Series; provided, however, that the
                Company
                may require payment of a sum sufficient to cover any tax or other
                governmental charge that may be imposed in connection with the exchange
                or
                transfer;

            

    

     

    
      	
              14.
                

            	
              The
                Trust for Debentures of the ____ Series shall be Florida Power & Light
                Company Trust __, a Delaware statutory trust. The Trust Agreement
                for
                Debentures of the ____ Series shall be the Amended and Restated Trust
                Agreement dated as of _________, 200__ relating to the Trust, as
                it may be
                modified, amended or supplemented from time to time;
                

            

    

     

    
      	
              15.
                

            	
              If
                the Company shall make any deposit of money and/or Eligible Obligations
                with respect to any Debentures of the ____ Series, or any portion
                of the
                principal amount thereof, as contemplated by Section 701 of the Indenture,
                the Company shall not deliver an Officer’s Certificate described in clause
                (z) in the first paragraph of said Section 701 unless the Company
                shall
                also deliver to the Trustee, together with such Officer’s Certificate,
                either:

            

    

     

    (A)    an
      instrument wherein the Company, notwithstanding the satisfaction and discharge
      of its indebtedness in respect of the Debentures of the ____ Series, shall
      assume the obligation (which shall be absolute and unconditional) to irrevocably
      deposit with the Trustee or Paying Agent such additional sums of money, if
      any,
      or additional Eligible Obligations (meeting the requirements of Section 701),
      if
      any, or any combination thereof, at such time or times, as shall be necessary,
      together with the money and/or Eligible Obligations theretofore so deposited,
      to
      pay when due the principal of and premium, if any, and interest due and to
      become due on such Debentures of the ____ Series or portions thereof, all in
      accordance with and subject to the provisions of said Section 701; provided,
      however, that such instrument may state that the obligation of the Company
      to
      make additional deposits as aforesaid shall be subject to the delivery to the
      Company by the Trustee of a notice asserting the deficiency accompanied by
      an
      opinion of an independent public accountant of nationally recognized standing,
      selected by the Trustee, showing the calculation thereof; or

     

    (B)    
an
      Opinion of Counsel to the effect that, as a result of (i) the receipt by the
      Company from, or the publication by, the Internal Revenue Service of a ruling
      or
      (ii) a change in

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    law
      occurring after the date of this certificate, the Holders of such Debentures
      of
      the ____ Series, or portions of the principal amount thereof, will not recognize
      income, gain or loss for United States federal income tax purposes as a result
      of the satisfaction and discharge of the Company’s indebtedness in respect
      thereof and will be subject to United States federal income tax on the same
      amounts, at the same times and in the same manner as if such satisfaction and
      discharge had not been effected;

     

    
      	
              16.
                

            	
              The
                Company reserves the right to require legends on Debentures of the
                ____
                Series as it may determine are necessary to ensure compliance with
                the
                securities laws of the United States and the states therein and any
                other
                applicable laws;

            

    

     

    
      	
              17.
                

            	
              The
                Debentures of the ____ Series shall have such other terms and provisions
                as are provided in the form set forth as Exhibit A
                hereto;

            

    

     

    
      	
              18.
                

            	
              The
                undersigned has read all of the covenants and conditions contained
                in the
                Indenture relating to the issuance of the Debentures of the ____
                Series
                and the definitions in the Indenture relating thereto and in respect
                of
                which this certificate is made;

            

    

     

    
      	
              19.
                

            	
              The
                statements contained in this certificate are based upon the familiarity
                of
                the undersigned with the Indenture, the documents accompanying this
                certificate, and upon discussions by the undersigned with officers
                and
                employees of the Company familiar with the matters set forth
                herein;

            

    

     

    
      	
              20.
                

            	
              In
                the opinion of the undersigned, he or she has made such examination
                or
                investigation as is necessary to enable him or her to express an
                informed
                opinion as to whether or not such covenants and conditions have been
                complied with; and

            

    

     

    
      	
              21.
                

            	
              In
                the opinion of the undersigned, such conditions and covenants and
                conditions precedent, if any (including any covenants compliance
                with
                which constitutes a condition precedent) to the authentication and
                delivery of the Debentures of the ____ Series requested in the
                accompanying Company Order No. __, have been complied
                with.

            

    

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, I have executed this Officer’s Certificate on behalf of the
      Company this _____ day of _________, ____ in New York, New
      York.

     

    
      	
            	By:	 
	 	 	
            

    

     

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

     

                                                                                                                    Exhibit
      A

     

    No._______________                                                                            CUSIP
      No. ___________

     

    [FORM
      OF FACE OF JUNIOR SUBORDINATED DEBENTURE]

     

    FLORIDA
      POWER & LIGHT COMPANY

     

    [_______]
      JUNIOR SUBORDINATED DEBENTURES, SERIES DUE _____

     

    FLORIDA
      POWER & LIGHT COMPANY, a corporation duly organized and existing under the
      laws of the State of Florida (herein referred to as the “Company”, which term
      includes any successor Person under the Indenture), for value received, hereby
      promises to pay to The Bank of New York, as Property Trustee under the Amended
      and Restated Trust Agreement, dated as of __________, 200__ of Florida Power
      & Light Company Trust __, a Delaware statutory trust, or registered assigns,
      the principal sum of ____________________ Dollars on ____________ and to pay
      interest on said principal sum ________ on ______, ______, ______ and ______
      of
      each year commencing ______ (each an “Interest Payment Date”) at the rate of
      ______% per annum until the principal hereof is paid or made available for
      payment. [Provision for reset of interest rate will be inserted, if applicable.]
      Interest on the Securities of this series will accrue from and including
      __________, to and excluding the first Interest Payment Date, and thereafter
      will accrue from and including the last Interest Payment Date to which interest
      has been paid or duly provided for. No interest will accrue on the Securities
      with respect to the day on which the Securities mature. In the event that any
      Interest Payment Date is not a Business Day, then payment of interest payable
      on
      such date will be made on the next succeeding day which is a Business Day (and
      without any interest or other payment in respect of such delay); provided,
      however, that if such Business Day is in the next succeeding calendar year,
      payment shall be made on the immediately preceding Business Day, in each case
      with the same force and effect as if made on the Interest Payment Date. The
      interest so payable, and punctually paid or duly provided for, on any Interest
      Payment Date will, as provided in such Indenture, be payable to the Person
      in
      whose name this Security (or one or more Predecessor Securities) is registered
      at the close of business on the “Regular Record Date” for such interest
      installment which shall be the close of business on the 15th calendar day next
      preceding such Interest Payment Date, provided that if the Securities are held
      by a securities depository in book-entry form, the Regular Record Date will
      be
      the close of business on the Business Day immediately preceding such Interest
      Payment Date, and provided further that interest payable at Maturity or on
      any
      Redemption Date will be paid to the Person to whom principal is payable. Any
      such interest not so punctually paid or duly provided for will forthwith cease
      to be payable to the Holder of this Security on such Regular Record Date and
      may
      either be paid to the Person in whose name this Security (or one or more
      Predecessor Securities) is registered at the close of business on a Special
      Record Date for the payment of such Defaulted Interest to be fixed by the
      Trustee, notice whereof shall be given to Holders of Securities of this series
      not less than 10 days prior to such Special Record Date, or be paid at any
      time
      in any other lawful manner not inconsistent with the requirements of any
      securities exchange, if any, on which the Securities of this series may be
      listed, and upon such notice as may be required by such exchange, all as more
      fully provided in the Indenture referred to on the reverse hereof.

     

    Payment
      of the principal of (and premium, if any) and interest on this Security will
      be
      made at the office or agency of the Company maintained for that purpose in
      The
      City of New York, the State of New York in such coin or currency of the United
      States of America as at the time of payment is legal tender for payment of
      public and private debts; provided, however, that at the option of the Company,
      interest on this Security may be paid by check mailed to the address of the
      Person entitled

     

    
      
         

      

      
        A-1

        
          

        

      

      
         

      

    

     

    thereto,
      as such address shall appear on the Security Register or by a wire transfer
      to
      an account designated by the Person entitled thereto.

     

    Reference
      is hereby made to the further provisions of this Security set forth on the
      reverse hereof, which further provisions shall for all purposes have the same
      effect as if set forth at this place.

     

    Unless
      the certificate of authentication hereon has been executed by the Trustee
      referred to on the reverse hereof by manual signature, this Security shall
      not
      be entitled to any benefit under the Indenture or be valid or obligatory for
      any
      purpose.

     

    IN
      WITNESS WHEREOF, the Company has caused this instrument to be duly executed
      in
      New York, New York.

     

    
      	
            	
              FLORIDA POWER & LIGHT COMPANY

               

            
	
            	By:	 
	 	 	
            

    

    

     

    [FORM
      OF CERTIFICATE OF AUTHENTICATION]

     

    CERTIFICATE
      OF AUTHENTICATION

     

    Dated:

     

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

     

    
      	
            	
              THE BANK OF NEW YORK, as Trustee

               

            
	
            	By:	 
	 	 	
              Authorized
                Signatory

            

    

     

    
      
         

      

      
        A-2

        
          

        

      

      
         

      

    

     

    [FORM
      OF REVERSE OF JUNIOR SUBORDINATED DEBENTURE]

     

    This
      Security is one of a duly authorized issue of securities of the Company (herein
      called the “Securities”), issued and to be issued in one or more series under an
      Indenture (For Unsecured Subordinated Debt Securities relating to Trust
      Securities), dated as of ________ (herein, together with any amendments thereto,
      called the “Indenture”, which term shall have the meaning assigned to it in such
      instrument), between the Company and The Bank of New York, as Trustee (herein
      called the “Trustee”, which term includes any successor trustee under the
      Indenture), and reference is hereby made to the Indenture, including the Board
      Resolutions and Officer’s Certificate filed with the Trustee on _____________,
      creating the series designated on the face hereof (herein called, the “Officer’s
      Certificate”), for a statement of the respective rights, limitations of rights,
      duties and immunities thereunder of the Company, the Trustee and the Holders
      of
      the Securities and of the terms upon which the Securities are, and are to be,
      authenticated and delivered. This Security is one of the series designated
      on
      the face hereof.

     

    [Redemption
      provisions, if any, will be inserted]

     

    [If
      at
      any time a Tax Event (as defined below) shall occur and be continuing, and
      either (i) in the opinion of tax counsel to the Trust or the Company
      experienced in such matters, there would in all cases, after effecting the
      dissolution of the Trust, after satisfaction of liabilities to creditors of
      the
      Trust, if any, as provided by applicable law, and the distribution of this
      Security to the holders of the Preferred Trust Securities issued by the Trust
      (the “Preferred Trust Securities”), in exchange therefor, be more than an
      insubstantial risk that an Adverse Tax Consequence (as defined below) would
      continue to exist or (ii) this Security is not held by the Trust, then the
      Company shall have the right to redeem this Security, in whole but not in part,
      at any time within 90 days following the occurrence of the Tax Event, at 100%
      of
      the principal amount thereof plus accrued and unpaid interest thereon, including
      the Additional Interest, if any, to the Redemption Date.]

     

    [“Tax
      Event” means the receipt by the Trust or the Company of an Opinion of Counsel
      experienced in such matters to the effect that, as a result of (a) any amendment
      to, clarification of, or change (including any announced prospective change)
      in,
      the laws or treaties (or any regulations thereunder) of the United States or
      any
      political subdivision or taxing authorities thereof or therein; (b) any judicial
      decision or any official administrative pronouncement, ruling, regulatory
      procedure, notice or announcement (including any notice or announcement of
      intent to issue or adopt any such administrative pronouncement, ruling,
      regulatory procedure or regulation) (each, an “Administrative Action”), or (c)
      any amendment to, clarification of, or change in the official position or the
      interpretation of any such Administrative Action or judicial decision or any
      interpretation or pronouncement that provides for a position with respect to
      such Administrative Action or judicial decision that differs from the
      theretofore generally accepted position, in each case by any legislative body,
      court, governmental authority or regulatory body, irrespective of the time
      or
      manner in which such amendment, clarification or change is introduced or made
      known, which amendment, clarification, or change is effective, or which
      Administrative Action is taken or which judicial decision, interpretation or
      pronouncement is issued, in each case on or after _________, 200_, there is
      more
      than an insubstantial risk that (i) the Trust is, or will be, subject to United
      States Federal income tax with respect to interest received on this Security,
      (ii) interest payable by the Company on this Security is not, or will not be,
      fully deductible by the Company for United States Federal income tax purposes,
      or (iii) the Trust is, or will be, subject to more than a de minimis amount
      of
      other taxes, duties or other governmental charges (each of the circumstances
      described in clauses (i), (ii) or (iii) being an “Adverse Tax
      Consequence”).]

     

    [If
      at
      any time an Investment Company Act Event (as defined below) shall occur and
      be
      continuing, then the Company shall have the right to redeem this Security,
      in
      whole, but not in part, at any

     

    
      
         

      

      
        A-3

        
          

        

      

      
         

      

    

     

    time
      within 90 days following the occurrence of the Investment Company Act Event,
      at
      100% of the principal amount thereof plus accrued and unpaid interest thereon,
      including Additional Interest, if any, to the Redemption Date. 

     

    An
      “Investment Company Act Event” occurs when the Trust or the Company has received
      an Opinion of Counsel experienced in such matters to the effect that, as a
      result of a change in law or regulation or a written change in interpretation
      or
      application of law or regulation by any legislative body, court, governmental
      agency or regulatory authority after __________, 200_, there is more than an
      insubstantial risk that the Trust is or will be considered an investment company
      under the Investment Company Act of 1940, as amended.]

     

    Interest
      installments whose Stated Maturity is on or prior to such Redemption Date will
      be payable to the Holder of such Security, or one or more Predecessor
      Securities, of record at the close of business on the related Regular Record
      Date referred to on the face hereof, all as provided in the
      Indenture.

     

    In
      the
      event of redemption of this Security in part only, a new Security or Securities
      of this series and of like tenor for the unredeemed portion hereof will be
      issued in the name of the Holder hereof upon the cancellation
      hereof.

     

    The
      indebtedness evidenced by this Security is, to the extent provided in the
      Indenture, subordinated and subject in right of payment to the prior payment
      in
      full of all Senior Indebtedness of the Company, and this Security is issued
      subject to the provisions of the Indenture with respect thereto. Each Holder
      of
      this Security, by accepting the same, (a) agrees to and shall be bound by such
      provisions, (b) authorizes and directs the Trustee on his behalf to take such
      action as may be necessary or appropriate to acknowledge or effectuate the
      subordination so provided and (c) appoints the Trustee his attorney-in-fact
      for
      any and all such purposes. Each Holder hereof, by his acceptance hereof, hereby
      waives all notice of the acceptance of the subordination provisions contained
      herein and in the Indenture by each holder of Senior Indebtedness, whether
      now
      outstanding or hereafter incurred, and waives reliance by each such Holder
      upon
      said provisions.

     

    The
      Indenture contains provisions for defeasance at any time of the entire
      indebtedness of this Security upon compliance with certain conditions set forth
      in the Indenture including the Officer’s Certificate described
      above.

     

    If
      an
      Event of Default with respect to Securities of this series shall occur and
      be
      continuing, the principal of and interest on the Securities of this series
      may
      be declared due and payable in the manner and with the effect provided in the
      Indenture.

     

    The
      Indenture permits, with certain exceptions as therein provided, the amendment
      thereof and the modification of the rights and obligations of the Company and
      the rights of the Holders of the Securities of each series to be affected under
      the Indenture at any time by the Company and the Trustee with the consent of
      the
      Holders of a majority in principal amount of the Securities at the time
      Outstanding of all series to be affected. The Indenture also contains provisions
      permitting the Holders of specified percentages in principal amount of the
      Securities of each series at the time Outstanding, on behalf of the Holders
      of
      all Securities of such series, to waive compliance by the Company with certain
      provisions of the Indenture and certain past defaults under the Indenture and
      their consequences. Any such consent or waiver by the Holder of this Security
      shall be conclusive and binding upon such Holder and upon all future Holders
      of
      this Security and of any Security issued upon the registration of transfer
      hereof or in exchange herefor or in lieu hereof, whether or not notation of
      such
      consent or waiver is made upon this Security.

     

    
      
         

      

      
        A-4

        
          

        

      

      
         

      

    

     

    As
      provided in and subject to the provisions of the Indenture, the Holder of this
      Security shall not have the right to institute any proceeding with respect
      to
      the Indenture or for the appointment of a receiver or trustee or for any other
      remedy thereunder, unless such Holder shall have previously given the Trustee
      written notice of a continuing Event of Default with respect to the Securities
      of this series, the Holders of a majority in aggregate principal amount of
      the
      Securities of all series at the time Outstanding in respect of which an Event
      of
      Default shall have occurred and be continuing shall have made written request
      to
      the Trustee to institute proceedings in respect of such Event of Default as
      Trustee and offered the Trustee reasonable indemnity, and the Trustee shall
      not
      have received from the Holders of a majority in aggregate principal amount
      of
      Securities of all series at the time Outstanding in respect of which an Event
      of
      Default shall have occurred and be continuing a direction inconsistent with
      such
      request, and shall have failed to institute any such proceeding, for 60 days
      after receipt of such notice, request and offer of indemnity. The foregoing
      shall not apply to any suit instituted by the Holder of this Security for the
      enforcement of any payment of principal hereof or any premium or interest hereon
      on or after the respective due dates expressed herein.

     

    No
      reference herein to the Indenture and no provision of this Security or of the
      Indenture shall alter or impair the obligation of the Company, which is absolute
      and unconditional, to pay the principal of and any premium and interest on
      this
      Security at the times, place and rate, and in the coin or currency, herein
      prescribed.

     

    Pursuant
      to Section 312 of the Indenture, so long as no Event of Default under the
      Indenture has occurred and is continuing with respect to the Securities of
      any
      series, the Company shall have the right, at any time and from time to time
      during the term of the Securities of this series, to extend the interest payment
      period to a period not exceeding 20 consecutive quarterly periods (an “Extension
      Period”); provided that no Extension Period shall extend beyond the Stated
      Maturity or end on a day other than an Interest Payment Date. During the
      Extension Period interest (calculated for each Interest Period in the manner
      provided for on the face hereof, as if the interest payment period had not
      been
      so extended) will be compounded [quarterly]. At the end of the Extension Period,
      which shall be an Interest Payment Date, the Company shall pay all interest
      accrued and unpaid hereon (together with interest hereon at the rate specified
      for the Securities of this series, compounded [quarterly], to the extent
      permitted by applicable law) and Additional Interest, if any, to the Person in
      whose name the Securities of this series are registered at the close of business
      on the Regular Record Date for the Interest Payment Date on which such Extension
      Period ended; provided that any such accrued and unpaid interest payable at
      Stated Maturity or any Redemption Date will be paid to the Person to whom
      principal is payable. With respect to the Securities of this series, the term
      “Interest Period” shall mean each period from, and including, an Interest
      Payment Date to, but excluding, the next succeeding Interest Payment Date,
      except that the first Interest Period shall commence on the date of original
      issuance. However, during any such Extension Period, the Company shall not
      (i)
      declare or pay any dividends or distributions on its capital stock, or (ii)
      redeem, purchase, acquire or make a liquidation payment with respect to any
      of
      its capital stock, or (iii) pay any principal, interest or premium on, or repay,
      repurchase or redeem any debt securities that are equal or junior in right
      of
      payment to the Securities of this series, or (iv) make any payments with respect
      to any guarantee of debt securities by the Company if such guarantee is equal
      or
      junior in right of payment to the Securities of this series (“Restricted
      Payments”). 

     

    The
      foregoing provisions shall not prevent or restrict the Company from making:
      

     

    (a)     purchases,
      redemptions or other acquisitions of its capital stock in connection with any
      employment contract, benefit plan or other similar arrangement with or for
      the
      benefit of employees, officers, directors or agents or a stock purchase or
      dividend reinvestment plan, or the satisfaction of its obligations pursuant
      to
      any contract

     

    
      
         

      

      
        A-5

        
          

        

      

      
         

      

    

     

    or
      security outstanding on the date that the interest payment period is extended
      requiring it to purchase, redeem or acquire its capital stock;

     

    (b)     any
      payment, repayment, redemption, purchase, acquisition or declaration of dividend
      described in clauses (i) and (ii) above as a result of a reclassification of
      its
      capital stock, or the exchange or conversion of all or a portion of one class
      or
      series of its capital stock for another class or series of its capital
      stock;

     

    (c)     the
      purchase of fractional interests in shares of its capital stock pursuant to
      the
      conversion or exchange provisions of its capital stock or the security being
      converted or exchanged, or in connection with the settlement of stock purchase
      contracts;

     

    (d)     dividends
      or distributions paid or made in its capital stock (or rights to acquire its
      capital stock), or repurchases, redemptions or acquisitions of capital stock
      in
      connection with the issuance or exchange of capital stock (or of securities
      convertible into or exchangeable for shares of its capital stock and
      distributions in connection with the settlement of stock purchase
      contracts);

     

    (e)     redemptions,
      exchanges or repurchases of, or with respect to, any rights outstanding under
      a
      shareholder rights plan or the declaration or payment thereunder of a dividend
      or distribution of or with respect to rights in the future; or

     

    (f)    
 payments
      under any preferred trust securities guarantee or guarantee of junior
      subordinated debentures executed and delivered by the Company concurrently
      with
      the issuance by a trust of any preferred trust securities, so long as the amount
      of payments made on any preferred trust securities or junior subordinated
      debentures (as the case may be) is paid on all preferred trust securities or
      junior subordinated debentures (as the case may be) then outstanding on a pro
      rata basis in proportion to the full distributions to which each series of
      preferred trust securities or junior subordinated debentures (as the case may
      be) is then entitled if paid in full.

     

    Prior
      to
      the termination of any such Extension Period, the Company may further extend
      the
      interest payment period, provided that such Extension Period together with
      all
      such previous and further extensions thereof shall not exceed 20 consecutive
      quarterly periods at any one time or extend beyond the Maturity of the
      Securities of this series. Upon the termination of any such Extension Period
      and
      the payment of all amounts then due, including interest on deferred interest
      payments, the Company may elect to begin a new Extension Period, subject to
      the
      above requirements. No interest shall be due and payable during an Extension
      Period, except at the end thereof. The Company shall give the Trustee notice
      of
      its election of an Extension Period before the Business Day prior to the record
      date for the distribution which would occur but for such election and the
      Trustee will cause the Trust to send notice of such election to the holders
      of
      Preferred Trust Securities.

     

    The
      Securities of this series are issuable only in registered form without coupons
      in denominations of $[1,000][25] and integral multiples thereof. As provided
      in
      the Indenture and subject to certain limitations therein set forth, Securities
      of this series are exchangeable for a like aggregate principal amount of
      Securities of this series and of like tenor and of authorized denominations,
      as
      requested by the Holder surrendering the same.

     

    No
      service charge shall be made for any such registration of transfer or exchange,
      but the Company may require payment of a sum sufficient to cover any tax or
      other governmental charge payable in connection therewith.

     

    
      
         

      

      
        A-6

        
          

        

      

      
         

      

    

     

    The
      Company, the Trustee and any agent of the Company or the Trustee may treat
      the
      Person in whose name this Security is registered as the absolute owner hereof
      for all purposes, whether or not this Security be overdue, and neither the
      Company, the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    All
      terms
      used in this Security which are defined either in the Indenture or in the
      Officer’s Certificate shall have the meanings assigned to them in the Indenture
      or in the Officer’s Certificate.

     

    
      
         

      

      
        A-7

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