Document:

exv4w8

Exhibit 4.8

FEDERAL SIGNAL CORPORATION,

Issuer

And

[          ],

Trustee

 

INDENTURE

 

Dated as of [               ], 2010

Subordinated Debt Securities

 

 

Reconciliation and tie between

Trust Indenture Act of 1939 (the “Trust Indenture Act”)

and Indenture

	 	 	 	 	 
	Trust Indenture	 	Indenture Section
	Act Section
	 	 	 	 
	§310(a)(1)

	 	 	6.7	 
	(a)(2)

	 	 	6.7	 
	(b)

	 	 	6.8	 
	§311

	 	 	6.4	 
	§312(a)

	 	 	7.1	 
	(b)

	 	 	7.2	 
	(c)

	 	 	7.2	 
	§313(a)

	 	 	7.3	 
	(c)

	 	 	7.3	 
	(d)

	 	 	7.3	 
	§314(a)

	 	 	7.4	 
	(c)(l)

	 	 	1.2	 
	(c)(2)

	 	 	1.2	 
	(e)

	 	 	1.1, 1.2	 
	(f)

	 	 	1.2	 
	§315(a)-(d)

	 	 	3.3	 
	(b)

	 	 	6.2	 

i

 

	 	 	 	 	 
	Trust Indenture	 	Indenture Section
	(c)

	 	 	6.1	(9)
	(d)

	 	 	6.1	(8)
	(e)

	 	 	5.15	 
	§316(a) (last sentence)

	 	 	1.1	 
	(a)(l)(A)

	 	 	5.12	 
	(a)(1)(B)

	 	 	5.13	 
	(b)

	 	 	5.8	 
	§317(a)(1)

	 	 	5.3	 
	(a)(2)

	 	 	5.4	 
	(b)

	 	 	10.3	 
	§318(a)

	 	 	1.8	 

 

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

Table of Contents

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1 — DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	 	 	1	 
	 
	 	 	 	 
	Section 1.1 Definitions
	 	 	1	 
	Section 1.2 Compliance Certificates and Opinions
	 	 	11	 
	Section 1.3 Form of Documents Delivered to Trustee
	 	 	12	 
	Section 1.4 Acts of Holders
	 	 	12	 
	Section 1.5 Notices, etc. to Trustee and Company
	 	 	14	 
	Section 1.6 Notice to Holders of Securities; Waiver
	 	 	14	 
	Section 1.7 Language of Notices
	 	 	15	 
	Section 1.8 Conflict with Trust Indenture Act
	 	 	15	 
	Section 1.9 Effect of Headings and Table of Contents
	 	 	16	 
	Section 1.10 Successors and Assigns
	 	 	16	 
	Section 1.11 Separability Clause
	 	 	16	 
	Section 1.12 Benefits of Indenture
	 	 	16	 
	Section 1.13 Governing Law
	 	 	16	 
	Section 1.14 Legal Holidays
	 	 	16	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	Section 1.15 Counterparts
	 	 	17	 
	Section 1.16 Judgment Currency
	 	 	17	 
	Section 1.17 No Security Interest Created
	 	 	17	 
	Section 1.18 Limitation on Individual Liability
	 	 	17	 
	 
	 	 	 	 
	ARTICLE 2 — SECURITIES FORMS
	 	 	18	 
	 
	 	 	 	 
	Section 2.1 Forms Generally
	 	 	18	 
	Section 2.2 Form of Trustee’s Certificate of Authentication
	 	 	18	 
	Section 2.3 Securities in Global Form
	 	 	19	 
	 
	 	 	 	 
	ARTICLE 3 — THE SECURITIES
	 	 	20	 
	 
	 	 	 	 
	Section 3.1 Amount Unlimited; Issuable in Series
	 	 	20	 
	Section 3.2 Currency; Denominations
	 	 	23	 
	Section 3.3 Execution, Authentication, Delivery and Dating
	 	 	23	 
	Section 3.4 Temporary Securities
	 	 	25	 
	Section 3.5 Registration, Transfer and Exchange
	 	 	26	 
	Section 3.6 Mutilated, Destroyed, Lost and Stolen Securities
	 	 	29	 
	Section 3.7 Payment of Interest; Rights to Interest Preserved
	 	 	30	 
	Section 3.8 Persons Deemed Owners
	 	 	32	 
	Section 3.9 Cancellation
	 	 	33	 
	Section 3.10 Computation of Interest
	 	 	33	 
	Section 3.11 CUSIP Numbers
	 	 	33	 
	 
	 	 	 	 
	ARTICLE 4 — SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE AND COVENANT DEFEASANCE
	 	 	34	 
	 
	 	 	 	 
	Section 4.1 Section 4.1 Satisfaction and Discharge
	 	 	34	 
	Section 4.2 Defeasance and Covenant Defeasance
	 	 	35	 
	Section 4.3 Application of Trust Money
	 	 	38	 
	Section 4.4 Reinstatement
	 	 	39	 
	 
	 	 	 	 
	ARTICLE 5 — REMEDIES
	 	 	39	 
	 
	 	 	 	 
	Section 5.1 Events of Default
	 	 	39	 
	Section 5.2 Acceleration of Maturity; Rescission and Annulment
	 	 	41	 
	Section 5.3 Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	42	 
	Section 5.4 Trustee May File Proofs of Claim
	 	 	43	 
	Section 5.5 Trustee May Enforce Claims without Possession of Securities or Coupons
	 	 	44	 
	Section 5.6 Application of Money Collected
	 	 	44	 
	Section 5.7 Limitations on Suits
	 	 	44	 
	Section 5.8 Unconditional Right of Holders to Receive Principal and any
Premium and Interest
	 	 	45	 
	Section 5.9 Restoration of Rights and Remedies
	 	 	45	 
	Section 5.10 Rights and Remedies Cumulative
	 	 	45	 
	Section 5.11 Delay or Omission Not Waiver
	 	 	46	 
	Section 5.12 Control by Holders of Securities
	 	 	46	 
	Section 5.13 Waiver of Past Defaults
	 	 	46	 
	Section 5.14 Waiver of Usury, Stay or Extension Laws
	 	 	46	 
	Section 5.15 Undertaking for Costs
	 	 	47	 
	 
	 	 	 	 
	ARTICLE 6 — THE TRUSTEE
	 	 	47	 
	 
	 	 	 	 
	Section 6.1 Certain Rights of Trustee
	 	 	47	 

iii

 

	 	 	 	 	 
	 	 	Page	 
	Section 6.2 Notice of Defaults
	 	 	48	 
	Section 6.3 Not Responsible for Recitals or Issuance of Securities
	 	 	49	 
	Section 6.4 May Hold Securities
	 	 	49	 
	Section 6.5 Money Held in Trust
	 	 	49	 
	Section 6.6 Compensation and Reimbursement
	 	 	49	 
	Section 6.7 Corporate Trustee Required; Eligibility
	 	 	50	 
	Section 6.8 Resignation and Removal; Appointment of Successor
	 	 	50	 
	Section 6.9 Acceptance of Appointment by Successor
	 	 	52	 
	Section 6.10 Merger, Conversion, Consolidation or Succession to Business
	 	 	53	 
	Section 6.11 Appointment of Authenticating Agent
	 	 	54	 
	Section 6.12 Appointment of Attorney-in-Fact
	 	 	55	 
	Section 6.13 Additional Provisions Relating to Collateral
	 	 	56	 
	 
	 	 	 	 
	ARTICLE 7 — HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY
	 	 	57	 
	 
	 	 	 	 
	Section 7.1 Company to Furnish Trustee Names and Addresses of Holders
	 	 	57	 
	Section 7.2 Preservation of Information; Communications to Holders
	 	 	57	 
	Section 7.3 Reports by Trustee
	 	 	57	 
	Section 7.4 Reports by Company
	 	 	57	 
	 
	 	 	 	 
	ARTICLE 8 — CONSOLIDATION, AMALGAMATIONS, MERGER AND SALES
	 	 	58	 
	 
	 	 	 	 
	Section 8.1 Company May Consolidate, Etc., Only on Certain Terms
	 	 	58	 
	Section 8.2 Successor Person Substituted for Company 
	 	 	59	 
	 
	 	 	 	 
	ARTICLE 9 — SUPPLEMENTAL INDENTURES
	 	 	59	 
	 
	 	 	 	 
	Section 9.1 Supplemental Indentures without Consent of Holders
	 	 	59	 
	Section 9.2 Supplemental Indentures with Consent of Holders
	 	 	61	 
	Section 9.3 Execution of Supplemental Indentures
	 	 	62	 
	Section 9.4 Effect of Supplemental Indentures
	 	 	62	 
	Section 9.5 Reference in Securities to Supplemental Indentures
	 	 	63	 
	Section 9.6 Conformity with Trust Indenture Act
	 	 	63	 
	Section 9.7 Effect on Senior Indebtedness
	 	 	63	 
	Section 9.8 Notice of Supplemental Indenture
	 	 	63	 
	 
	 	 	 	 
	ARTICLE 10 — COVENANTS
	 	 	63	 
	 
	 	 	 	 
	Section 10.1 Payment of Principal, any Premium, Interest
	 	 	63	 
	Section 10.2 Maintenance of Office or Agency
	 	 	63	 
	Section 10.3 Money for Securities Payments to Be Held in Trust
	 	 	65	 
	Section 10.4 Corporate Existence 
	 	 	66	 
	Section 10.5 Company Statement as to Compliance; Notice of Certain Defaults
	 	 	66	 
	 
	 	 	 	 
	ARTICLE 11 — REDEMPTION OF SECURITIES
	 	 	67	 
	 
	 	 	 	 
	Section 11.1 Applicability of Article
	 	 	67	 
	Section 11.2 Election to Redeem; Notice to Trustee
	 	 	67	 
	Section 11.3 Selection by Trustee of Securities to be Redeemed
	 	 	67	 
	Section 11.4 Notice of Redemption
	 	 	68	 
	Section 11.5 Deposit of Redemption Price
	 	 	69	 
	Section 11.6 Securities Payable on Redemption Date
	 	 	70	 
	Section 11.7 Securities Redeemed in Part
	 	 	70	 
	Section 11.8 Cancellation and Destruction of Securities 
	 	 	71	 
	 
	 	 	 	 
	ARTICLE 12 — SINKING FUNDS
	 	 	71	 
	 
	 	 	 	 
	Section 12.1 Applicability of Article
	 	 	71	 

iv

 

	 	 	 	 	 
	 	 	Page	 
	Section 12.2 Satisfaction of Sinking Fund Payments with Securities
	 	 	71	 
	Section 12.3 Redemption of Securities for Sinking Fund
	 	 	72	 
	 
	 	 	 	 
	ARTICLE 13 — REPAYMENT AT THE OPTION OF HOLDERS
	 	 	72	 
	 
	 	 	 	 
	Section 13.1 Applicability of Article
	 	 	72	 
	 
	 	 	 	 
	ARTICLE 14 — SECURITIES IN FOREIGN CURRENCIES
	 	 	73	 
	 
	 	 	 	 
	Section 14.1 Applicability of Article
	 	 	73	 
	 
	 	 	 	 
	ARTICLE 15 — MEETINGS OF HOLDERS OF SECURITIES
	 	 	73	 
	 
	 	 	 	 
	Section 15.1 Purposes for Which Meetings May Be Called
	 	 	73	 
	Section 15.2 Call, Notice and Place of Meetings
	 	 	73	 
	Section 15.3 Persons Entitled to Vote at Meetings
	 	 	74	 
	Section 15.4 Quorum; Action
	 	 	74	 
	Section 15.5 Determination of Voting Rights; Conduct and Adjournment of Meetings
	 	 	74	 
	Section 15.6 Counting Votes and Recording Action of Meetings
	 	 	75	 
	Section 15.7 Preservation of Rights of Trustee and Holders
	 	 	76	 
	 
	 	 	 	 
	ARTICLE 16 — SUBORDINATION OF SECURITIES
	 	 	76	 
	 
	 	 	 	 
	Section 16.1 Agreement to Subordinate
	 	 	76	 
	Section 16.2 Default on Senior Indebtedness
	 	 	76	 
	Section 16.3 Liquidation; Dissolution; Bankruptcy
	 	 	77	 
	Section 16.4 Subrogation
	 	 	78	 
	Section 16.5 Trustee to Effectuate Subordination
	 	 	79	 
	Section 16.6 Notice by the Company
	 	 	79	 
	Section 16.7 Rights of the Trustee; Holders of Senior Indebtedness
	 	 	80	 
	Section 16.8 Subordination May Not Be Impaired
	 	 	81	 

v

 

     INDENTURE, dated as of [            ], 2010 (the “Indenture”), between Federal
Signal Corporation, a corporation duly organized and existing under the laws of the State of
Delaware (the “Company”), and [            ], as trustee (the “Trustee”).

RECITALS

The Company has duly authorized the execution and delivery of this Indenture to provide for the
issuance from time to time of its subordinated debentures, notes or other evidences of indebtedness
(the “Securities”), unlimited as to principal amount, to bear such rates of interest, to mature at
such time or times, to be issued in one or more series and to have such other provisions as shall
be fixed as hereinafter provided.

The Company has duly authorized the execution and delivery of this Indenture. All things necessary
to make this Indenture a valid agreement of the Company, in accordance with its terms, have been
done.

This Indenture is subject to the provisions of the Trust Indenture Act of 1939, as amended, and the
rules and regulations of the Securities and Exchange Commission promulgated thereunder that are
required to be part of this Indenture and, to the extent applicable, shall be governed by such
provisions.

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

For and in consideration of the premises and the purchase of the Securities by the Holders (as
herein defined) thereof, it is mutually covenanted, declared and agreed by and between the parties
hereto, for the equal and proportionate benefit of all Holders of the Securities or of any series
thereof and any Coupons (as herein defined) as follows:

ARTICLE 1 — DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

Section 1.1 Definitions.

Except as otherwise specified with respect to any Securities issued pursuant to Section 3.1, and
except as otherwise expressly provided in or pursuant to this Indenture, or unless the context
otherwise requires, for all purposes of this Indenture:

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

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

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

1

 

hereunder shall mean such accounting principles as are generally accepted in the United States
of America at the date or time of such computation;

     (4) the words “herein,” “hereof,” “hereto” 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

     (5) the word “or” is always used inclusively (for example, the phrase “A or B” means “A or B
or both,” not “either A or B but not both”).

Certain terms used principally in certain Articles hereof are defined in those Articles.

“Additional Provisions” has the meaning specified in Section 16.1.

“Act,” when used with respect to any Holders, has the meaning specified in Section 1.4.

“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 the meanings correlative to the foregoing.

“Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 6.11 to act
on behalf of the Trustee to authenticate Securities of one or more series.

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

“Authorized Officer” means, when used with respect to the Company, the President, the Chief
Executive Officer, the Chief Financial Officer, the Chief Operating Officer, the Chief
Administrative Officer, the General Counsel, any Vice President, the Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary, of the Company.

“Bankruptcy Law” has the meaning specified in Section 5.1(6).

“Bearer Security” means any Security in the form established pursuant to Section 2.1 which is
payable to bearer.

“Board of Directors” means the board of directors of the Company or any committee of that board
duly authorized to act generally or in any particular respect for the Company hereunder.

2

 

“Board Resolution” means a copy of one or more resolutions, 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, delivered to the Trustee.

“Business Day,” with respect to any Place of Payment or other location, means any day other than a
Saturday, Sunday or other day on which banking institutions in such Place of Payment or other
location are authorized or obligated by law, regulation or executive order to close.

“Capital Lease Obligation” means an obligation under a lease that is required to be capitalized for
financial reporting purposes in accordance with generally accepted accounting principles, and the
amount of Indebtedness represented by such obligation shall be the capitalized amount of such
obligation determined in accordance with such principles.

“Capital Stock” of any Person means any and all shares, interests, rights to purchase, warrants,
options, participations or other equivalents of or interests in (however designated) equity of such
Person, including Preferred Stock, but excluding any debt securities convertible into such equity.

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

“Common Stock” in respect of any Corporation means Capital Stock of any class or classes (however
designated) which has no preference as to the payment of dividends, or as to the distribution of
assets upon any voluntary or involuntary liquidation or dissolution of such Corporation, and which
is not subject to redemption by such Corporation.

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

“Company Request and Company Order” mean, respectively, a written request or order, as the case may
be, signed in the name of the Company by an Authorized Officer, and delivered to the Trustee.

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

“Corporate Trust Office” means the principal corporate trust office of the Trustee at which at any
particular time its corporate trust business shall be administered, which office at the date of
original execution of this Indenture is located at [                    ].

3

 

“Corporation” means corporations and limited liability companies and, except for purposes of
Article 8, associations, companies and business trusts.

“Coupon” means any interest coupon appertaining to a Bearer Security.

“Currency,” with respect to any payment, deposit or other transfer in respect of the principal of
or any premium or interest on any Security, means Dollars or the Foreign Currency, as the case may
be, in which such payment, deposit or other transfer is required to be made by or pursuant to the
terms hereof or such Security and, with respect to any other payment, deposit or transfer pursuant
to or contemplated by the terms hereof or such Security, means Dollars.

“CUSIP number” means the alphanumeric designation assigned to a Security by Standard & Poor’s
Ratings Service, CUSIP Service Bureau.

“Custodian” has the meaning specified in Section 5.1(6).

“Defaulted Interest” has the meaning specified in Section 3.7.

“Dollars or $” means a dollar or other equivalent unit of legal tender for payment of public or
private debts in the United States of America.

“Environmental Laws” means any and all federal, state, local, and foreign statutes, laws,
regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants,
franchises, licenses, agreements or governmental restrictions relating to pollution and the
protection of the environment or the release of any materials into the environment, including but
not limited to those related to hazardous substances or wastes, air emissions and discharges to
waste or public systems.

“Event of Default” has the meaning specified in Section 5.1.

“Foreign Currency” means any currency, currency unit or composite currency, including, without
limitation, the euro, issued by the government of one or more countries other than the United
States of America or by any recognized confederation or association of such governments.

“Government Obligations” means securities which are (i) direct obligations of the United States of
America or the other government or governments which issued the Foreign Currency in which the
principal of or any premium or interest on such Security shall be payable, in each case where the
payment or payments thereunder are supported by the full faith and credit of such government or
governments or (ii) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America or such other government or governments, in each
case where the timely payment or payments thereunder are unconditionally guaranteed as a full faith
and credit obligation by the United States of America or such other government or governments, and
which, in the case of (i) or (ii), are not callable or redeemable at the option of the issuer or
issuers thereof, and shall also include a depository receipt issued by a bank or trust company as
custodian with respect to any such Government Obligation or a specific payment of interest on or
principal of or other amount with respect to any such Government

4

 

Obligation held by such custodian for the account of the holder of a depository receipt, provided
that (except as required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depository receipt from any amount received by the custodian
in respect of the Government Obligation or the specific payment of interest on or principal of or
other amount with respect to the Government Obligation evidenced by such depository receipt.

“Holder,” in the case of any Registered Security, means the Person in whose name such Security is
registered in the Security Register and, in the case of any Bearer Security, means the bearer
thereof and, in the case of any Coupon, means the bearer thereof.

“Indebtedness” means, with respect to any Person, without duplication, such Person’s (i)
obligations for borrowed money, (ii) obligations representing the deferred purchase price of
property, all conditional sale obligations and obligations under title retention agreements
excluding accounts payable and other accrued current liabilities incurred in the ordinary course of
such Person’s business, (iii) obligations, whether or not assumed, secured by Liens on property now
or hereafter owned or acquired by such Person (other than carriers’, warehousemen’s, mechanics’,
repairmen’s or other like nonconsensual statutory Liens arising in the ordinary course of
business), (iv) obligations which are evidenced by notes, debentures, bonds, or other similar
instruments, (v) Capital Lease Obligations, (vi) contingent obligations with respect to the
Indebtedness of another Person, including but not limited to the obligation or liability of another
which such Person assumes, guarantees, endorses, contingently agrees to purchase or provide funds
for the payment of, or otherwise becomes contingently liable upon; provided that any Indebtedness
owing by the Company to any of its Subsidiaries or by any Subsidiary of the Company to the Company
or by any Subsidiary of the Company to any other Subsidiary of the Company or any contingent
obligation in respect thereof shall not constitute Indebtedness for purposes of this Agreement,
(vii) obligations for which such Person is obligated in respect of a letter of credit, banker’s
acceptance or similar credit transaction excluding obligations with respect to letters of credit,
banker’s acceptance or similar credit transaction securing obligations entered into in the ordinary
course of business of such Person to the extent such letters of credit, banker’s acceptance or
similar credit transactions are not drawn upon or, if and to the extent drawn upon, such drawing is
reimbursed no later than the third Business Day following receipt by such Person of a demand for
reimbursement following payment thereon. For purposes of this Indenture, Indebtedness shall not
include (A) any indebtedness of such Person to the extent (I) such indebtedness does not appear on
the financial statement of such Person, (II) such indebtedness is recourse only to certain assets
of such Person, and (III) the assets to which such indebtedness is recourse only appear on the
financial statements of such Person net of such indebtedness, or (B) any indebtedness or other
obligations issued by any Person (or by a trust or other entity established by such Person or any
of its affiliates) which are primarily serviced by the cash flows of a discrete pool of
receivables, leases or other financial assets which have been sold or transferred by the Company or
any Subsidiary in securitization transactions which, in accordance with GAAP, are accounted for as
sales for financial reporting purposes. It is understood and agreed that (1) the amount of any
Indebtedness described in clause (iii) for which recourse is limited to certain property of such
Person shall be the lower of (x) the amount of the obligation and (y) the fair market value of the
property of such Person securing such obligation, and (2) the amount of any obligation described in
clause (vi) shall be

5

 

the lower of (x) the stated or determinable amount of the primary obligation in respect of which
such contingent obligation is made, and (y) the maximum amount for which such Person may be liable
pursuant to the terms of the agreement embodying such contingent obligation unless such primary
obligation and the maximum amount for which such Person may be liable are not stated or
determinable, in which case the amount of such contingent obligation shall be such Person’s
maximum, reasonably anticipated liability in respect thereof as determined by such Person in good
faith.

“Indenture” means this instrument as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof,
including, for all purposes of this instrument and any such supplemental indenture, the provisions
of the Trust Indenture Act that are deemed to be a part of and govern this instrument, and, with
respect to any Security, by the terms and provisions of such Security and any Coupon appertaining
thereto established pursuant to Section 3.1 (as such terms and provisions may be amended pursuant
to the applicable provisions hereof).

“Independent Public Accountants” means accountants or a firm of accountants that, with respect to
the Company and any other obligor under the Securities or the Coupons, are independent public
accountants within the meaning of the Securities Act of 1933, as amended, and the rules and
regulations promulgated by the Commission thereunder, who may be the independent public accountants
regularly retained by the Company or who may be other independent public accountants. Such
accountants or firm shall be entitled to rely upon any Opinion of Counsel as to the interpretation
of any legal matters relating to this Indenture or certificates required to be provided hereunder.

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

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

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

“Judgment Currency” has the meaning specified in Section 1.16.

“Junior Subordinated Indebtedness” means the Indebtedness of the Company, whether outstanding at
the date hereof or incurred hereafter, which is subordinated to Senior Indebtedness and Senior
Subordinated Indebtedness of the Company.

“Lien” means, with respect to any Person, any mortgage,
lien, pledge, charge, security interest or other encumbrance, or any interest or title of any
vendor, lessor, lender or other secured party to or of such Person under any conditional sale or
other title retention agreement (other than an operating lease) or capital lease, upon or with
respect to any property or asset of such Person.

“Maturity,” 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 or pursuant to this

6

 

Indenture, whether at the Stated Maturity or by declaration of acceleration, notice of redemption
or repurchase, notice of option to elect repayment or otherwise, and includes the Redemption Date.

“New York Banking Day” has the meaning specified in Section 1.16.

“Office or Agency” with respect to any Securities, means an office or agency of the Company
maintained or designated in a Place of Payment for such Securities pursuant to Section 10.2 or any
other office or agency of the Company maintained or designated for such Securities pursuant to
Section 10.2 or, to the extent designated or required by Section 10.2 in lieu of such office or
agency, the Corporate Trust Office of the Trustee.

“Officers’ Certificate” means a certificate signed by the Chairman, Vice Chairman, President, Chief
Executive Officer or a Vice President and by the Chief Financial Officer, Treasurer, an Assistant
Treasurer, the Secretary, or an Assistant Secretary of the Corporation, and delivered to the
Trustee.

“Opinion of Counsel” means a written opinion of counsel, who may be an employee of or counsel for
the Company or other counsel who shall be reasonably acceptable to the Trustee, that, if required
by the Trust Indenture Act, complies with the requirements of Section 314(e) of the Trust Indenture
Act.

“Original Issue Discount Security” means a Security issued pursuant to this Indenture which
provides for declaration of an amount less than the principal face amount thereof to be due and
payable upon acceleration pursuant to Section 5.2.

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

          (a) any such Security theretofore cancelled by the Trustee or the Security Registrar or
delivered to the Trustee or the Security Registrar for cancellation;

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

          (c) any such Security with respect to which the Company has effected defeasance and/or
covenant defeasance pursuant to the terms hereof, except to the extent provided in Section 4.2;

          (d) any such Security which has been paid pursuant to Section 3.6 or in exchange for or in
lieu of which other Securities have been authenticated and delivered pursuant to this Indenture,
unless there shall have been presented to the Trustee proof satisfactory to it that such

7

 

Security is held by a bona fide purchaser in whose hands such Security is a valid obligation
of the Company; and

          (e) any such Security converted or exchanged as contemplated by this Indenture into other
securities of the Company or another issuer, if the terms of such Security provide for such
conversion or exchange pursuant to Section 3.1;

provided, however, that in determining whether the Holders of the requisite principal amount of
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or
waiver hereunder or are present at a meeting of Holders of Securities for quorum purposes, (i) the
principal amount of an Original Issue Discount Security that may be counted in making such
determination and that shall be deemed to be Outstanding for such purposes shall be equal to the
amount of the principal thereof that pursuant to the terms of such Original Issue Discount Security
would be declared (or shall have been declared to be) due and payable upon a declaration of
acceleration thereof pursuant to Section 5.2 at the time of such determination, and (ii) the
principal amount of any Indexed Security that may be counted in making such determination and that
shall be deemed Outstanding for such purposes shall be equal to the principal face amount of such
Indexed Security at original issuance, unless otherwise provided in or pursuant to this Indenture,
and (iii) the principal amount of a Security denominated in a Foreign Currency shall be the Dollar
equivalent, determined on the date of original issuance of such Security, of the principal amount
(or, in the case of an Original Issue Discount Security, the Dollar equivalent on the date of
original issuance of such Security of the amount determined as provided in (i) above) of such
Security, and (iv) Securities owned by the Company or any other obligor upon the Securities or any
Affiliate of the Company or such other obligor, shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be protected in making any such
determination or relying upon any such request, demand, authorization, direction, notice, consent
or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned
shall be so disregarded. Securities so owned which shall have been pledged in good faith may be
regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee (A) the
pledgee’s right so to act with respect to such Securities and (B) that the pledgee is not the
Company or any other obligor upon the Securities or any Coupons appertaining thereto or an
Affiliate of the Company or such other obligor.

“Paying Agent” means any Person authorized by the Company to pay the principal of, or any premium
or interest on, any Security or any Coupon on behalf of the Company.

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

“Place of Payment,” with respect to any Security, means the place or places where the principal of,
or any premium or interest on, such Security is payable as provided in or pursuant to this
Indenture or such Security.

“Predecessor Security” of any particular Security means every previous Security evidencing all or a
portion of the same Indebtedness as that evidenced by such particular Security; and, for the
purposes of this definition, any Security authenticated and delivered under Section 3.6 in

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exchange for or in lieu of a lost, destroyed, mutilated or stolen Security or any Security to which
a mutilated, destroyed, lost or stolen Coupon appertains shall be deemed to evidence the same
Indebtedness as the lost, destroyed, mutilated or stolen Security or the Security to which a
mutilated, destroyed, lost or stolen Coupon appertains.

“Preferred Stock” in respect of any Corporation means Capital Stock of any class or classes
(however designated) which is preferred as to the payment of dividends, or as to the distribution
of assets upon any voluntary or involuntary liquidation or dissolution of such Corporation, over
shares of Capital Stock of any other class of such Corporation.

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

“Redemption Price,” with respect to any Security or portion thereof to be redeemed, means the price
at which it is to be redeemed as determined by or pursuant to this Indenture or such Security.

“Registered Security” means any Security in the form established pursuant to Section 2.1 which is
registered in a Security Register.

“Regular Record Date” for the interest payable on any Registered Security on any Interest Payment
Date therefor means the date, if any, specified in or pursuant to this Indenture or such Security
as the “Regular Record Date”.

“Required Currency” has the meaning specified in Section 1.16.

“Required Holders” means Holders of more than 50% in aggregate principal amount of the Outstanding
Securities of any series.

“Responsible Officer” means any officer within the corporate trust office of the Trustee, which may
include the chairman and vice chairman of the board of directors, the president, the chairman of
the executive committee of the board of directors, the chairman of the trust committee, every vice
president or officer senior thereto, every assistant vice president, the secretary, every assistant
secretary, the treasurer, every assistant treasurer, every trust officer, every assistant trust
officer, and every other officer and assistant officer of the Trustee customarily performing
functions similar to those performed by the persons who at the time shall be such officers,
respectively, or to whom any corporate trust matter is referred because of his knowledge of, and
familiarity with, a particular subject.

“Restricted Subsidiary” means each Subsidiary designated as a Restricted Subsidiary in the
applicable supplemental indenture.

“Security” or “Securities” means any note or notes,
bond or bonds, debenture or debentures, or any other
evidences of Indebtedness, as the case may be,
authenticated and delivered under this Indenture;
provided, however, that, if at any time there is more
than one Person acting as Trustee under this
Indenture, “Securities,” with respect to any such
Person, shall mean Securities

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authenticated and delivered under this Indenture, exclusive, however, of Securities of any series
as to which such Person is not Trustee.

“Security Register” and “Security Registrar” have the respective meanings specified in Section 3.5.

“Senior Indebtedness” means, with respect to the Securities of any particular series issued and
authenticated pursuant to the terms of this Indenture, all Indebtedness of the Company outstanding
at any time except (a) the Securities of such series, (b) Indebtedness as to which, by the terms of
the instrument creating or evidencing the same, it is provided that such Indebtedness is
subordinated to the Securities of such series, or ranks pari passu with Securities that are
subordinated to Securities of such series, (c) Indebtedness of the Company to an Affiliate of the
Company, (d) interest accruing after the filing of a petition initiating any proceeding relating to
the Company referred to in Section 5.1(6) and 5.1(7) unless such interest is an allowed claim
enforceable against the Company in a proceeding under federal or state bankruptcy laws, (e) trade
accounts payable, (f) any Indebtedness issued in violation of the instrument creating the same and
(g) any guarantee of any Indebtedness.

“Senior Subordinated Indebtedness” means the Indebtedness represented by the Securities and all
other Indebtedness of the Company, whether outstanding at the date hereof or incurred hereafter,
which is subordinate only to Senior Indebtedness.

“Special Record Date” for the payment of any Defaulted Interest on any Registered Security means a
date fixed by the Company pursuant to Section 3.7.

“Stated Maturity,” with respect to any Security or any installment of principal thereof or interest
thereon, means the date established by or pursuant to this Indenture or such Security as the fixed
date on which the principal of such Security or such installment of principal or interest is, due
and payable.

“Subsidiary” means with respect to the Company, such Person which, at the time of determination,
more than 50% of the voting power of the shares of its Capital Stock or other interests (including
partnership interests) entitled (without regard to the occurrence of any contingency) to vote in
the election of directors, managers or trustees thereof is owned or controlled, directly or
indirectly, by (i) the Company and/or (ii) one or more Subsidiaries of the Company; provided,
however, that the term Subsidiary shall not include any Person, if the earnings of such Person are
not consolidated with the financial statements of the Company in accordance with the requirements
of GAAP.

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and any reference herein
to the Trust Indenture Act or a particular provision thereof shall mean such Act or provision, as
the case may be, as in effect on the date of this Indenture, provided, however, that in the event
the Trust Indenture Act is amended after such date, the Trust Indenture Act means, to the extent
required by such amendment, the Trust Indenture Act as so amended.

“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

10

 

pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean each
Person who is then a Trustee hereunder; provided, however, that if at any time there is more than
one such Person, “Trustee” shall mean each such Person and as used with respect to the Securities
of any series shall mean the Trustee with respect to the Securities of such series.

“United States,” except as otherwise provided in or pursuant to this Indenture or any Security,
means the United States of America (including the states thereof and the District of Columbia), its
territories and possessions and other areas subject to its jurisdiction.

“U.S. Depository or Depository” means, with respect to any Security issuable or issued in the form
of one or more global Securities, the Person designated as U.S. Depository or Depository by the
Company in or pursuant to this Indenture, which Person must be, to the extent required by
applicable law or regulation, a clearing agency registered under the Securities Exchange Act of
1934, as amended, and, if so provided with respect to any Security, any successor to such Person.
If at any time there is more than one such Person, “U.S. Depository” or “Depository” shall mean,
with respect to any Securities, the qualifying entity that has been appointed with respect to such
Securities.

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

Section 1.2 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 Officers’ Certificate stating that all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been complied with and an
Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent, if
any, have been complied with, except that in the case of any such application or request as to
which the furnishing of such documents or any of them is specifically required by any provision of
this Indenture relating to such particular application or request, no additional certificate or
opinion need be furnished.

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

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

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

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

11

 

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

Section 1.3 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 an Opinion of Counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the Opinion of Counsel with respect to the matters upon which his
certificate or opinion is based is erroneous. Any such 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, provided that such counsel, after reasonable inquiry, has no reason
to believe and does not believe that the certificate or opinion or representations with respect to
such matters are erroneous.

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

Section 1.4 Acts of Holders.

     (1) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by or pursuant to this Indenture to be given or taken by Holders may be embodied in and
evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by an agent duly appointed in writing. If, but only if, Securities of a series are
issuable as Bearer Securities, any request, demand, authorization, direction, notice, consent,
waiver or other action provided in or pursuant to this Indenture to be given or taken by Holders of
Securities of such series may, alternatively, be embodied in and evidenced by the record of Holders
of Securities of such series voting in favor thereof, either in person or by proxies duly appointed
in writing, at any meeting of Holders of Securities of such series duly called and held in
accordance with the provisions of Article 15, 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 or so voting at any such meeting. Proof of
execution of any such instrument or of a writing appointing any such agent, or of the holding by
any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to
Section 315 of the Trust Indenture Act) conclusive

12

 

in favor of the Trustee, the Company and any agent of the Trustee or the Company, if made in
the manner provided in this Section. The record of any meeting of Holders of Securities shall be
proved in the manner provided in Section 15.6.

Without limiting the generality of this Section 1.4, unless otherwise provided in or pursuant to
this Indenture, a Holder, including a U.S. Depository that is a Holder of a global Security, may
make, give or take, by a proxy or proxies, duly appointed in writing, any request, demand,
authorization, direction, notice, consent, waiver or other Act provided in or pursuant to this
Indenture to be made, given or taken by Holders, and a U.S. Depository that is a Holder of a global
Security may provide its proxy or proxies to the beneficial owners of interests in any such global
Security through such U.S. Depository’s standing instructions and customary practices.

The Company shall fix a record date for the purpose of determining the Persons who are beneficial
owners of interest in any permanent global Security held by a U.S. Depository entitled under the
procedures of such U.S. Depository to make, give or take, by a proxy or proxies duly appointed in
writing, any request, demand, authorization, direction, notice, consent, waiver or other Act
provided in or pursuant to this Indenture to be made, given or taken by Holders. If such a record
date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only
such Persons, shall be entitled to make, give or take such request, demand, authorization,
direction, notice, consent, waiver or other Act, whether or not such Holders remain Holders after
such record date. No such request, demand, authorization, direction, notice, consent, waiver or
other Act shall be valid or effective if made, given or taken more than 90 days after such record
date.

     (2) The fact and date of the execution by any Person of any such instrument or writing
referred to in this Section 1.4 may be proved in any reasonable manner; and the Trustee may in any
instance require further proof with respect to any of the matters referred to in this Section.

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

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

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longer Outstanding. The ownership, principal amount and serial numbers of Bearer Securities
held by the Person so executing such instrument or writing and the date of the commencement and the
date of the termination of holding the same may also be proved in any other manner, which the
Company and the Trustee deem sufficient.

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

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

Section 1.5 Notices, etc. to Trustee and Company.

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

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

     (2) the Company, by the Trustee or any Holder shall be sufficient for every purpose hereunder
(unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid,
to the Company, addressed to the attention of its Treasurer, with a copy to the attention of its
General Counsel, at the address of its principal office specified herein or at any other address
previously furnished in writing to the Trustee by the Company.

Section 1.6 Notice to Holders of Securities; Waiver.

Except as otherwise expressly provided in or pursuant to this Indenture, where this Indenture
provides for notice to Holders of Securities of any event,

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     (1) such notice shall be sufficiently given to Holders of Registered Securities if in writing
and mailed, first-class postage prepaid, to each Holder of a Registered Security affected by such
event, at his address as it appears in the Security Register, not later than the latest date, and
not earlier than the earliest date, prescribed for the giving of such notice; and

     (2) such notice shall be sufficiently given to Holders of Bearer Securities, if any, if
published in an Authorized Newspaper in The City of New York and, if such Securities are then
listed on any stock exchange outside the United States, in an Authorized Newspaper in such city as
the Company shall advise the Trustee that such stock exchange so requires, on a Business Day at
least twice, the first such publication to be not earlier than the earliest date and the second
such publication not later than the latest date prescribed for the giving of such notice.

In any case where notice to Holders of Registered Securities is given by mail, neither the failure
to mail such notice, nor any defect in any notice so mailed, to any particular Holder of a
Registered Security shall affect the sufficiency of such notice with respect to other Holders of
Registered Securities or the sufficiency of any notice to Holders of Bearer Securities given as
provided herein. Any notice that is mailed in the manner herein provided, shall be conclusively
presumed to have been duly given or provided. In the case by reason of the suspension of regular
mail service or by reason of any other cause it shall be impracticable to give such notice by mail,
then such notification as shall be made with the approval of the Trustee shall constitute a
sufficient notification for every purpose hereunder. In case by reason of the suspension of
publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause it
shall be impracticable to publish any notice to Holders of Bearer Securities as provided above,
then such notification to Holders of Bearer Securities as shall be given with the approval of the
Trustee shall constitute sufficient notice to such Holders for every purpose hereunder. Neither
failure to give notice by publication to Holders of Bearer Securities as provided above, nor any
defect in any notice so published, shall affect the sufficiency of any notice mailed to Holders of
Registered Securities as provided above.

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

Section 1.7 Language of Notices.

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

Section 1.8 Conflict with Trust Indenture Act.

If any provision hereof limits, qualifies or conflicts with any duties under any required provision
of the Trust Indenture Act imposed hereon by Section 318(c) thereof, such required provision shall
control.

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Section 1.9 Effect of Headings and Table of Contents.

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

Section 1.10 Successors and Assigns.

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

Section 1.11 Separability Clause.

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

Section 1.12 Benefits of Indenture.

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

Section 1.13 Governing Law.

This Indenture, the Securities and any Coupons shall be governed by and construed in accordance
with the laws of the State of New York applicable to agreements made or instruments entered into
and, in each case, performed in said state.

Section 1.14 Legal Holidays.

Unless otherwise specified in or pursuant to this Indenture or any Securities, in any case where
any Interest Payment Date, Stated Maturity or Maturity of any Security, or the last date on which a
Holder has the right to convert or exchange Securities of a series that are convertible or
exchangeable, shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture, any Security or any Coupon other than a provision in any Security or
Coupon that specifically states that such provision shall apply in lieu hereof) payment need not be
made at such Place of Payment on such date, and such Securities need not be converted or exchanged
on such date, but such payment may be made, and such Securities may be converted or exchanged, on
the next succeeding day that is a Business Day at such Place of Payment, and no interest shall
accrue on the amount payable on such date or at such time for the period from and after such
Interest Payment Date, Stated Maturity, Maturity or last day for conversion or exchange, as the
case may be, to such next succeeding Business Day, except that if such next succeeding Business Day
is in the next succeeding calendar year, such payment may be made, and such Securities may be
converted or exchanged, on the immediately preceding Business Day (in the case of each of the
foregoing, with the same force and effect as if made on

16

 

such Interest Payment Date or at such Stated Maturity or Maturity or on such last day for
conversion or exchange, as the case may be).

Section 1.15 Counterparts.

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

Section 1.16 Judgment Currency.

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

Section 1.17 No Security Interest Created.

Nothing in this Indenture or in any Securities, express or implied, shall be construed to
constitute a security interest under the Uniform Commercial Code or similar legislation, as now or
hereafter enacted and in effect in any jurisdiction where property of the Company or its
Subsidiaries is or may be located.

Section 1.18 Limitation on Individual Liability.

No recourse under or upon any obligation, covenant or agreement contained in this Indenture or in
any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against
any incorporator, shareholder, officer or director, as such, past, present or future, of the
Company, either directly or through the Company, whether by virtue of any constitution, statute or
rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly
understood that this Indenture and the obligations issued hereunder are solely corporate
obligations, and that no such personal liability whatever shall attach to, or is or shall be
incurred

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by, the incorporators, shareholders, officers or directors, as such, of the Company, or any of
them, because of the creation of the indebtedness hereby authorized, or under or by reason of the
obligations, covenants or agreements contained in this Indenture or in any Security or implied
therefrom; and that any and all such personal liability of every name and nature, either at common
law or in equity or by constitution or statute, of, and any and all such rights and claims against,
every such incorporator, shareholder, officer or director, as such, because of the creation of the
indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any Security or implied therefrom, are hereby expressly waived
and released as a condition of, and as a consideration for, the execution of this Indenture and the
issuance of such Security.

ARTICLE 2 — SECURITIES FORMS

Section 2.1 Forms Generally.

Each Registered Security, Bearer Security, Coupon and temporary or permanent global Security issued
pursuant to this Indenture shall be in the form established by or pursuant to a Board Resolution or
in one or more indentures supplemental hereto, shall have such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by or pursuant to this Indenture or
any indenture supplemental hereto and may have such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as may, consistently herewith, be
determined by the officers executing such Security or Coupon as evidenced by their execution of
such Security or Coupon, or as may be required to comply with any law or with any rule or
regulation made pursuant thereto or with any rule or regulation of any stock exchange on which the
Securities may be listed. Unless otherwise provided in or pursuant to this Indenture or any
Securities, the Securities shall be issuable in registered form without Coupons and shall not be
issuable upon the exercise of warrants.

Definitive Securities and definitive Coupons shall be printed, lithographed or engraved or produced
by any combination of these methods on a steel engraved border or steel engraved borders or may be
produced in any other manner, all as determined by the officers of the Company executing such
Securities or Coupons, as evidenced by their execution of such Securities or Coupons.

Section 2.2 Form of Trustee’s Certificate of Authentication.

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

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

[          ],

as Trustee

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	By  	 	 
	 	Authorized Officer 	 

Section 2.3 Securities in Global Form.

Unless otherwise provided in or pursuant to this Indenture or any Securities, the Securities shall
not be issuable in temporary or permanent global form. If Securities of a series shall be issuable
in global form, as specified and contemplated by Section 3.1, any such Security may provide that it
or any number of such Securities shall represent the aggregate amount of all Outstanding Securities
of such series (or such lesser amount as is permitted by the terms thereof) from time to time
endorsed thereon and may also provide that the aggregate amount of Outstanding Securities
represented thereby may from time to time be increased or reduced to reflect exchanges. Any
endorsement of any Security in global form to reflect the amount, or any increase or decrease in
the amount, or changes in the rights of Holders, of Outstanding Securities represented thereby
shall be made in such manner and by such Person or Persons as shall be specified therein or in the
Company Order to be delivered pursuant to Section 3.3 or 3.4 with respect thereto. Subject to the
provisions of Section 3.3 and, if applicable, Section 3.4, the Trustee shall deliver and redeliver,
in each case at the Company’s expense, any Security in permanent global form in the manner and upon
instructions given by the Person or Persons specified therein or in the applicable Company Order.
If a Company Order pursuant to Section 3.3 or 3.4 has been, or simultaneously is, delivered, any
instructions by the Company with respect to a Security in global form shall be in writing but need
not be accompanied by or contained in an Officers’ Certificate and need not be accompanied by an
Opinion of Counsel.

Notwithstanding the provisions of Section 3.7, unless otherwise specified in or pursuant to this
Indenture or any Securities, payment of principal of, any premium and interest on, any Security (i)
in temporary form shall be made to the Person or Persons specified therein, and (ii) in global form
and registered in the name of a Depository or its nominee shall be made to the Depository or its
nominee as the Holder of such global Security. Neither the Company nor the Trustee shall have any
responsibility or liability for any aspect of the records relating to, or payments made on account
of, beneficial ownership interests of a global Security, or for maintaining, supervising or
reviewing any records relating to beneficial ownership interests, and each of the Company and the
Trustee may act or refrain from acting without liability on any information provided by the
Depository. Neither any members of, or participants in, the Depository nor any other Persons on
whose behalf the agent members of the depository may act shall have any rights under this
Indenture with respect to any global Security registered in the name of the Depository or any
nominee thereof or under any such global Security.

Notwithstanding the provisions of Section 3.8 and except as provided in the preceding paragraph,
the Company, the Trustee and any agent of the Company or the Trustee shall treat as the Holder of
such principal amount of Outstanding Securities represented by a global Security (i) in the case of
a global Security in registered form, the Holder of such global Security in registered form, or
(ii) in the case of a global Security in bearer form, the Person or Persons specified pursuant to
Section 3.1.

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ARTICLE 3 — THE SECURITIES

Section 3.1 Amount Unlimited; Issuable in Series.

The aggregate principal amount of Securities which may be authenticated and delivered under this
Indenture is unlimited. The Securities may be issued in one or more series. The Securities of each
series issued and authenticated pursuant to the terms of this Indenture shall be subordinated in
right of payment to all Senior Indebtedness, as provided in Article 16 of this Indenture.

With respect to any Securities to be authenticated and delivered hereunder, there shall be
established in or pursuant to a Board Resolution and set forth in an Officers’ Certificate, or
established in one or more indentures supplemental hereto,

     (1) the title and series of such Securities, which may include medium-term notes;

     (2) the total principal amount of the series of such Securities and whether there shall be any
limit upon the aggregate principal amount of such Securities that may be authenticated and
delivered under this Indenture (except for Securities authenticated and delivered upon registration
or transfer of, or in exchange for, or in lieu of, other Securities of such series pursuant to
Section 3.4, 3.5, 3.6, 9.5 or 11.7);

     (3) if such Securities are to be issuable as Registered Securities, as Bearer Securities or
alternatively as Bearer Securities and Registered Securities, and whether the Bearer Securities are
to be issuable with Coupons, without Coupons or both, and any restrictions applicable to the offer,
sale or delivery of the Bearer Securities and the terms, if any, upon which Bearer Securities may
be exchanged for Registered Securities and vice versa;

     (4) if any of such Securities are to be issuable in global form, when any of such Securities
are to be issuable in global form and (i) whether such Securities are to be issued in temporary or
permanent global form or both, (ii) whether beneficial owners of interests in any such global
Security may exchange such interests for Securities of the same series and of like tenor and of any
authorized form and denomination, and the circumstances under which any such exchanges may occur,
if other than in the manner specified in Section 3.5, and (iii) the name of the Depository or the
U.S. Depository, as the case may be, with respect to any such global Security;

     (5) if any of such Securities are to be issuable as Bearer Securities or in global form, the
date as of which any such Bearer Security or global Security shall be dated (if other than the date
of original issuance of the first of such Securities to be issued);

     (6) if any of such Securities are to be issuable as Bearer Securities, whether interest in
respect of any portion of a temporary Bearer Security in global form payable in respect of an
Interest Payment Date therefor prior to the exchange, if any, of such temporary Bearer Security for
definitive Securities shall be paid to any clearing organization with respect to the portion of
such temporary Bearer Security held for its account and, in such event, the terms and conditions
(including any certification requirements) upon which any such interest payment received by a

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clearing organization will be credited to the Persons entitled to interest payable on such
Interest Payment Date;

     (7) the date or dates, or the method or methods, if any, by which such date or dates shall be
determined, on which the principal of and premium, if any, on the Securities shall be payable;

     (8) the Person to whom any interest on a Security shall be payable, if other than the Person
in whose name that Security is registered at the close of business on the Regular Record Date for
such interest; the rate or rates at which such Securities shall bear interest, if any, which rate
may be zero in the case of certain Securities issued at an issue price representing a discount from
the principal amount payable at Maturity, or the method by which such rate or rates will be
determined (including, if applicable, any remarketing option or similar method), and the date or
dates from which such interest, if any, will accrue or the method by which such date or dates will
be determined, and the basis upon which interest shall be calculated if other than that of a
360-day year of twelve 30-day months;

     (9) the date or dates on which interest, if any, on such Securities shall be payable and any
Regular Record Dates applicable to the date or dates on which interest will be so payable;

     (10) if in addition to or other than the Borough of Manhattan, The City of New York, the place
or places where the principal of or any premium or interest on such Securities shall be payable,
where any of such Securities that are issued in registered form may be surrendered for registration
of, transfer or exchange, and where any such Securities may be surrendered for conversion or
exchange and notices of demands to or upon the Company in respect of such Securities and this
Indenture may be served, the extent to which, the manner in which, any interest payment on a global
Security on an Interest Payment Date, will be paid and the manner in which any principal of or
premium, if any, on any global Security will be paid;

     (11) if such Securities are to be redeemable at the Company’s option, the date or dates on
which, the period or periods within which, the price or prices at which and the other terms and
conditions upon which such Securities may be redeemed, in whole or in part, at the Company’s option
pursuant to any sinking fund or otherwise;

     (12) provisions specifying whether the Company shall be obligated to redeem, purchase or repay
any of such Securities pursuant to any sinking fund or analogous provision or at the option of any
Holder of such Securities and, if so, the date or dates on which, the period or periods within
which, the price or prices at which and the other terms and conditions upon which such Securities
shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation, and any
provisions for the remarketing of such Securities so redeemed or purchased;

     (13) if other than denominations of $1,000, and any integral multiple thereof, the
denominations in which any Securities to be issued in registered form will be issuable and, if
other than a denomination of $5,000, the denominations in which any Securities to be issued in
bearer form will be issuable;

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     (14) provisions specifying whether the Securities will be convertible into other securities of
the Company and/or exchangeable for Securities of the Company or other obligors and, if so, the
terms and conditions upon which such Securities shall be so convertible or exchangeable;

     (15) if other than the principal amount, the portion of the principal amount (or the method by
which such portion will be determined) of such Securities that will be payable upon declaration of
acceleration of the Maturity thereof pursuant to the terms of this Indenture;

     (16) if other than Dollars, the Currency of payment, including composite Currencies and
Foreign Currencies, of the principal of, any premium or interest on any of such Securities;

     (17) if other than as provided in Section 4.2, the manner in which the Securities of the
series are to be defeased;

     (18) provisions specifying whether the principal of, or any premium or interest on such
Securities shall be payable, at the election of the Company or a Holder of Securities, in a
Currency other than that in which such Securities are stated to be payable and the date or dates on
which, the period or periods within which, and the other terms and conditions upon which, such
election may be made, and the time and manner of determining the exchange rate;

     (19) any index, formula or other method used to determine the amount of payments of principal
of, or any premium or interest on such Securities;

     (20) provisions specifying whether such Securities are to be issued in the form of one or more
global Securities and, if so, the identity of the Depositary for such global Security or
Securities;

     (21) provisions specifying the relative degree, if any, to which such Securities of the series
issued and authenticated pursuant to the terms of this Indenture will be senior to or be
subordinated in right of payment to other series of Securities or other Indebtedness of the
Company, as the case may be, whether such other series of Securities or other Indebtedness is
Outstanding or not;

     (22) any deletions from, modifications of or additions to the Events of Default or covenants
of the Company that are contained herein with respect to such Securities;

     (23) terms specifying whether the provisions described below under Section 4.2 shall be
applicable to such Securities;

     (24) terms specifying whether any of such Securities are to be issued upon the exercise of
warrants, and the time, manner and place for such Securities to be authenticated and delivered;

     (25) if any of such Securities are to be secured, the identity and nature of the collateral
and provisions relating to the security interest in such collateral; and

22

 

     (26) any other terms of such Securities and any other deletions from or modifications or
additions to this Indenture in respect of such Securities.

All Securities of any one series and all Coupons, if any, appertaining to Bearer Securities of such
series shall be substantially identical except as to Currency of payments due thereunder,
denomination and the rate of interest thereon, or method of determining the rate of interest, if
any, Maturity, and the date from which interest, if any, shall accrue and except as may otherwise
be provided by the Company in or pursuant to the Board Resolution and set forth in the Officers’
Certificate or in any indenture or indentures supplemental hereto pertaining to such series of
Securities. The terms of the Securities of any series may provide, without limitation, that the
Securities shall be authenticated and delivered by the Trustee on original issue from time to time
upon written order of persons designated in the Officers’ Certificate or supplemental indenture and
that such persons are authorized to determine, consistent with such Officers’ Certificate or any
applicable supplemental indenture, such terms and conditions of the Securities of such series as
are specified in such Officers’ Certificate or supplemental indenture. All Securities of any one
series need not be issued at the same time and, unless otherwise so provided, a series may be
reopened for issuances of additional Securities of such series or to establish additional terms of
such series of Securities. The Company also may issue, and the Trustee may authenticate,
Securities with the same terms as previously issued Securities.

If any of the terms of the Securities of any series shall be established by action taken by or
pursuant to a Board Resolution, the Board Resolution shall be delivered to the Trustee at or prior
to the delivery of the Officers’ Certificate setting forth the terms of such series.

Section 3.2 Currency; Denominations.

Unless otherwise provided in or pursuant to this Indenture, the principal of, and any premium and
interest, if any, on, the Securities shall be payable in Dollars. Unless otherwise provided in or
pursuant to this Indenture, Registered Securities denominated in Dollars shall be issuable in
registered form without Coupons in denominations of $1,000, and any integral multiple thereof, and
the Bearer Securities denominated in Dollars shall be issuable in denominations of $5,000.
Securities not denominated in Dollars shall be issuable in such denominations as are established
with respect to such Securities in or pursuant to this Indenture.

Section 3.3 Execution, Authentication, Delivery and Dating.

Securities shall be executed on behalf of the Company by its Chairman of the Board, a Vice
Chairman, its President, its Chief Executive Officer, its Chief Financial Officer, its Treasurer or
a Vice President under its corporate seal reproduced thereon, if applicable, and attested by its
Secretary or one of its Assistant Secretaries. Coupons shall be executed on behalf of the Company
by the Treasurer or any Assistant Treasurer of the Company. The signature of any of these officers
on the Securities or any Coupons appertaining thereto may be manual or facsimile.

Securities and any Coupons appertaining thereto bearing the manual or facsimile signatures of
individuals who were at any time the proper officers of the Company shall bind the Company,
notwithstanding that such individuals or any of them have ceased to hold such offices prior to the

23

 

authentication and delivery of such Securities and Coupons or did not hold such offices at the date
of original issuance of such Securities or Coupons.

At any time and from time to time after the execution and delivery of this Indenture, the Company
may deliver Securities, together with any Coupons appertaining thereto, executed by the Company, to
the Trustee for authentication and, provided that the Board Resolution and Officers’ Certificate or
supplemental indenture or indentures with respect to such Securities referred to in Section 3.1 and
a Company Order for the authentication and delivery of such Securities have been delivered to the
Trustee, the Trustee in accordance with the Company Order and subject to the provisions hereof and
of such Securities shall authenticate and deliver such Securities. In authenticating such
Securities, and accepting the additional responsibilities under this Indenture in relation to such
Securities and any Coupons appertaining thereto, the Trustee shall be entitled to receive, and
(subject to Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully protected in
relying upon,

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

          (a) the form or forms and the terms of such Securities and any Coupons have been established
in conformity with the provisions of this Indenture; and

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

     (2) an Officers’ Certificate stating that, to the best knowledge of the Persons executing such
certificate, i) all conditions precedent to the execution, authentication and delivery of such
Securities and Coupons, if any, appertaining thereto, have been complied with, and ii) no event
which is, or after notice or lapse of time would become, an Event of Default with respect to any of
the Securities shall have occurred and be continuing.

If all the Securities of any series are not to be issued at one time, it shall not be necessary to
deliver an Opinion of Counsel and an Officers’ Certificate at the time of issuance of each
Security, but such Opinion of Counsel and Officers’ Certificate, with appropriate modifications,
shall be delivered at or before the time of issuance of the first Security of such series. After
any such first delivery, any separate written request by an Authorized Officer of the Company or
any person designated in writing by an Authorized Officer that the Trustee authenticate and deliver
Securities of such series for original issue will be deemed to be a certification by the Company
that all conditions precedent provided for in this Indenture relating to authentication and
delivery

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of such Securities continue to have been complied with and that no Event of Default with respect to
any of the Securities has occurred or is continuing.

The Trustee shall not be required to authenticate or to cause an Authenticating Agent to
authenticate any Securities if the issue of such Securities pursuant to this Indenture will affect
the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise
in a manner which is not reasonably acceptable to the Trustee or if the Trustee, being advised by
counsel, determines that such action may not lawfully be taken.

Each Registered Security shall be dated the date of its authentication. Each Bearer Security and
any Bearer Security in global form shall be dated as of the date specified in or pursuant to this
Indenture.

No Security or Coupon appertaining thereto 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 in Section 2.2 or 6.11 executed by or on
behalf of the Trustee or by the Authenticating Agent by the manual signature of one of its
authorized officers. Such certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered hereunder. Except as
permitted by Section 3.6, the Trustee shall not authenticate and deliver any Bearer Security unless
all Coupons appertaining thereto then matured have been detached and cancelled.

Section 3.4 Temporary Securities.

Pending the preparation of definitive Securities, the Company may execute and deliver to the
Trustee and, upon Company Order, the Trustee shall authenticate and deliver, in the manner provided
in Section 3.3, temporary Securities in lieu thereof 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, in registered form or, if authorized in
or pursuant to this Indenture, in bearer form with one or more Coupons or without Coupons and with
such appropriate insertions, omissions, substitutions and other variations as the officers of the
Company executing such Securities may determine, as conclusively evidenced by their execution of
such Securities. Such temporary Securities may be in global form.

Except in the case of temporary Securities in global form, which shall be exchanged in accordance
with the provisions thereof, if temporary Securities are issued, the Company shall cause definitive
Securities to be prepared without unreasonable delay. After the preparation of definitive
Securities of the same series and containing terms and provisions that are identical to those of
any temporary Securities, such temporary Securities shall be exchangeable for such definitive
Securities upon surrender of such temporary Securities at an Office or Agency for such Securities,
without charge to any Holder thereof. Upon surrender for cancellation of any one or more temporary
Securities (accompanied by any unmatured Coupons appertaining thereto), the Company shall execute
and the Trustee shall authenticate and deliver in exchange therefor an equal aggregate principal
amount of definitive Securities of authorized denominations of the same series and containing
identical terms and provisions; provided, however, that no definitive Bearer Security, except as
provided in or pursuant to this Indenture, shall be delivered in

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exchange for a temporary Registered Security; and provided, further, that a definitive Bearer
Security shall be delivered in exchange for a temporary Bearer Security only in compliance with the
conditions set forth in or pursuant to this Indenture. Unless otherwise provided in or pursuant to
this Indenture with respect to a temporary global Security, until so exchanged the temporary
Securities of any series shall in all respects be entitled to the same benefits under this
Indenture as definitive Securities of such series.

Section 3.5 Registration, Transfer and Exchange.

With respect to the Registered Securities of each series, if any, the Company shall cause to be
kept a register (each such register being herein sometimes referred to as the “Security Register”)
at an Office or Agency for such series in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of the Registered Securities of such
series and of transfers of the Registered Securities of such series. Such Office or Agency shall
be the “Security Registrar” for that series of Securities. Unless otherwise specified in or
pursuant to this Indenture or the Securities, the Trustee shall be the initial Security Registrar
for each series of Securities. The Company shall have the right to remove and replace from time to
time the Security Registrar for any series of Securities; provided that no such removal or
replacement shall be effective until a successor Security Registrar with respect to such series of
Securities shall have been appointed by the Company and shall have accepted such appointment by the
Company. In the event that the Trustee shall not be or shall cease to be Security Registrar with
respect to a series of Securities, it shall have the right to examine the Security Register for
such series at all reasonable times. The Company shall be required to maintain a Security
Registrar in each place where the principal of and premium or interest on any Security is payable.
There shall be only one Security Register for each series of Securities.

Upon surrender for registration of transfer of any Registered Security of any series at any Office
or Agency for such series, and upon a written instrument of transfer satisfactory to the Registrar
duly executed by the Holder or such Holder’s attorney duly authorized in writing, the Company shall
execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Registered Securities of the same series denominated as authorized
in or pursuant to this Indenture, of a like aggregate principal amount bearing a number not
contemporaneously outstanding and containing identical terms and provisions.

At the option of the Holder, certificated Securities (including Bearer Securities) and the right to
receive the principal, premium and interest, if any, on any certificated Security may be
transferred by a Holder by surrendering such certificate representing the certificated Securities
at the Corporate Trust Office of the Trustee. Such certificate representing the certificated
Securities may be reissued by the Company or the Trustee to a new Holder or a new certificate
representing the certificated Securities may be issued by the Company or the Trustee to a new
Holder.

At the option of the Holder, Registered Securities of any series may be exchanged for other
Registered Securities of the same series containing identical terms and provisions, in any
authorized denominations, and of a like aggregate principal amount, upon surrender of the
Securities to be exchanged at any Office or Agency for such series, together with a written

26

 

instrument of transfer satisfactory to the Registrar duly executed by the Holder or such Holder’s
attorney duly authorized in writing. Whenever any Registered Securities are so surrendered for
exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Registered
Securities that the Holder making the exchange is entitled to receive.

If provided in or pursuant to this Indenture, with respect to Securities of any series, at the
option of the Holder, Bearer Securities of such series may be exchanged for Registered Securities
of such series containing identical terms, denominated as authorized in or pursuant to this
Indenture and in the same aggregate principal amount, upon surrender of the Bearer Securities to be
exchanged at any Office or Agency for such series, with all unmatured Coupons and all matured
Coupons in default thereto appertaining. If the Holder of a Bearer Security is unable to produce
any such unmatured Coupon or Coupons or matured Coupon or Coupons in default, such exchange may be
effected if the Bearer Securities are accompanied by payment in funds acceptable to the Company and
the Trustee in an amount equal to the face amount of such missing Coupon or Coupons, or the
surrender of such missing Coupon or Coupons may be waived by the Company and the Trustee if there
is furnished to them such security or indemnity as they may require to save each of them and any
Paying Agent harmless. If thereafter the Holder of such Bearer Security shall surrender to any
Paying Agent any such missing Coupon in respect of which such a payment shall have been made, such
Holder shall be entitled to receive the amount of such payment; provided, however, that, except as
otherwise provided in Section 10.2, interest represented by Coupons shall be payable only upon
presentation and surrender of those Coupons at an Office or Agency for such series located outside
the United States. Notwithstanding the foregoing, in case a Bearer Security of any series is
surrendered at any such Office or Agency for such series in exchange for a Registered Security of
such series and like tenor after the close of business at such Office or Agency on (i) any Regular
Record Date and before the opening of business at such Office or Agency on the next succeeding
Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such
Office or Agency on the related date for payment of Defaulted Interest, such Bearer Security shall
be surrendered without the Coupon relating to such Interest Payment Date or proposed date of
payment, as the case may be (or, if such Coupon is so surrendered with such Bearer Security, such
Coupon shall be returned to the Person so surrendering the Bearer Security), and interest or
Defaulted Interest, as the case may be, shall not be payable on such Interest Payment Date or
proposed date for payment, as the case may be, in respect of the Registered Security issued in
exchange for such Bearer Security, but shall be payable only to the Holder of such Coupon when due
in accordance with the provisions of this Indenture.

If provided in or pursuant to this Indenture with respect to Securities of any series, at the
option of the Holder, Registered Securities of such series may be exchanged for Bearer Securities
upon such terms and conditions as may be provided in or pursuant to this Indenture with respect to
such series.

Whenever any Securities are surrendered for exchange as contemplated by the immediately preceding
two paragraphs, the Company shall execute, and the Trustee shall authenticate and deliver, the
Securities that the Holder making the exchange is entitled to receive.

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Notwithstanding the foregoing, except as otherwise provided in or pursuant to this Indenture, any
global Security shall be exchangeable for certificated Securities only if (i) the Depository is at
any time unwilling, unable or ineligible to continue as depository and a successor depository is
not appointed by the Company within 90 days of the date the Company is so informed in writing, (ii)
the Company, in its discretion, determines not to require all of the Securities of a series to be
represented by a global Security and notifies the Trustee of its decision by executing and
delivering to the Trustee a Company Order to the effect that such global Security shall be so
exchangeable or (iii) an Event of Default has occurred and is continuing, the Company, the Trustee,
the Registrar and the Paying Agent shall have notified the Depository that the global Security
shall be exchangeable for certificated Securities. If the beneficial owners of interests in a
global Security are entitled to exchange such interests for definitive Securities as the result of
an event described in clause (i), (ii) or (iii) of the preceding sentence, then without unnecessary
delay but in any event not later than the earliest date on which such interests may be so
exchanged, the Company shall deliver to the Trustee definitive Securities in such form and
denominations as are required by or pursuant to this Indenture, and of the same series, containing
identical terms and in aggregate principal amount equal to the principal amount of such global
Security, executed by the Company. On or after the earliest date on which such interests may be so
exchanged, such global Security shall be surrendered from time to time by the U.S. Depository or
such other Depository as shall be specified in the Company Order with respect thereto, and in
accordance with instructions given to the Trustee and the U.S. Depository or such other Depository,
as the case may be (which instructions shall be in writing but need not be contained in or
accompanied by an Officers’ Certificate or be accompanied by an Opinion of Counsel), as shall be
specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such
purpose, to be exchanged, in whole or in part, for definitive Securities as described above without
charge. The Trustee shall authenticate and make available for delivery, in exchange for each
portion of such surrendered global Security, a like aggregate principal amount of definitive
Securities of the same series of authorized denominations and of like tenor as the portion of such
global Security to be exchanged, which (unless such Securities are not issuable both as Bearer
Securities and as Registered Securities, in which case the definitive Securities exchanged for the
global Security shall be issuable only in the form in which the Securities are issuable, as
provided in or pursuant to this Indenture) shall be in the form of Bearer Securities or Registered
Securities, or any combination thereof, as shall be specified by the beneficial owner thereof, but
subject to the satisfaction of any certification or other requirements to the issuance of Bearer
Securities; provided, however, that (unless otherwise provided in or pursuant to this Indenture) no
Bearer Security delivered in exchange for a portion of a global Security shall be mailed or
otherwise delivered to any location in the United States. Promptly following any such exchange in
part, such global Security shall be returned by the Trustee to such Depository or the U.S.
Depository, as the case may be, or such other Depository or U.S. Depository referred to above in
accordance with the instructions of the Company referred to above. If a Registered Security is
issued in exchange for any portion of a global Security after the close of business at the Office
or Agency for such Security where such exchange occurs on or after (i) any Regular Record Date for
such Security and before the opening of business at such Office or Agency on the next succeeding
Interest Payment Date, or (ii) any Special Record Date for such Security and before the opening of
business at such Office or Agency on the related proposed date for payment of interest or Defaulted
Interest, as the case may be, interest shall not be payable on such Interest Payment Date or
proposed date for

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payment, as the case may be, in respect of such Registered Security, but shall be payable on such
Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom
interest in respect of such portion of such global Security shall be payable in accordance with the
provisions of this Indenture.

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

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

No service charge shall be made for any registration of transfer or exchange, or redemption of
Securities, but the Company may require payment of a sum sufficient to cover any stamp tax or other
governmental charge and any other reasonable expenses (including fees and expenses of the Trustee)
that may be imposed in connection with any registration of transfer or exchange of Securities,
other than exchanges pursuant to Section 3.4, 3.6, 9.5 or 11.7 not involving any transfer.

The Company shall not be required (i) to register the transfer of or exchange Securities of any
series during a period beginning at the opening of business 15 days before the day the Company
transmits a notice of redemption of Securities of the series selected for redemption and ending at
the close of business on the day of the transmission, or (ii) to register the transfer of or
exchange any Security selected for redemption in whole or in part, except in the case of any
Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to exchange any
Bearer Security selected for redemption except, to the extent provided with respect to such Bearer
Security, that such Bearer Security may be exchanged for a Registered Security of like tenor and
the same series, provided that such Registered Security shall be immediately surrendered for
redemption with written instruction for payment consistent with the provisions of this Indenture or
(iv) to issue, register the transfer of or exchange any Security which, in accordance with its
terms, has been surrendered for repayment at the option of the Holder, except the portion, if any,
of such Security not to be so repaid.

Section 3.6 Mutilated, Destroyed, Lost and Stolen Securities.

If any mutilated Security or a Security with a mutilated Coupon appertaining to it is surrendered
to the Trustee, subject to the provisions of this Section 3.6, the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a new Security of the same series
containing identical terms and of like principal amount and bearing a number not contemporaneously
outstanding, with Coupons appertaining thereto corresponding to the Coupons, if any, appertaining
to the surrendered Security.

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

Notwithstanding the foregoing provisions of this Section 3.6, in case any mutilated, destroyed,
lost or stolen Security or Coupon has become or is about to become due and payable, the Company in
its discretion may, instead of issuing a new Security, pay such Security or Coupon; provided,
however, that payment of principal of, and any premium or interest, if any, on any Bearer
Securities shall, except as otherwise provided in Section 10.2, be payable only at an Office or
Agency for such Securities located outside the United States.

Upon the issuance of any new Security under this Section 3.6, the Company may require the payment
of a sum sufficient to cover any stamp tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the Trustee and the
fees and expenses of Trustee’s counsel) connected therewith.

Every new Security, with any Coupons appertaining thereto issued pursuant to this Section 3.6 in
lieu of any destroyed, lost or stolen Security, or in exchange for a Security to which a destroyed,
lost or stolen Coupon appertains shall constitute a separate obligation of the Company, whether or
not the destroyed, lost or stolen Security and Coupons appertaining thereto or the destroyed, lost
or stolen Coupon shall be at any time enforceable by anyone, and shall be entitled to all the
benefits of this Indenture equally and proportionately with any and all other Securities of such
series and any Coupons, if any, duly issued hereunder.

The provisions of this Section 3.6, as amended or supplemented pursuant to this Indenture with
respect to particular Securities or generally, shall be exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities or Coupons.

Section 3.7 Payment of Interest; Rights to Interest Preserved.

Unless otherwise provided in or pursuant to this Indenture, any interest on any Registered Security
which shall be payable, and are punctually paid or duly provided for, on any Interest Payment Date
shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is
registered as of the close of business on the Regular Record Date for such interest.

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Unless otherwise provided in or pursuant to this Indenture, any interest on any Registered Security
which shall be payable, but shall not be punctually paid or duly provided for, on any Interest
Payment Date for such Registered Security (herein called “Defaulted Interest”) shall forthwith
cease to be payable to the Holder thereof on the relevant Regular Record Date; and such Defaulted
Interest may be paid by the Company at its election as provided in clause (1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the Person in whose
name such Registered Security (or a Predecessor Security thereof) shall be registered at the close
of business on a Special Record Date for the payment of such Defaulted Interest, which shall be
fixed by the Company in the following manner. The Company shall notify the Trustee in writing of
the amount of Defaulted Interest proposed to be paid on such Registered Security, the Special
Record Date therefor 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 on or prior to the date of the proposed payment, such money when so deposited to be held in
trust for the benefit of the Person entitled to such Defaulted Interest as in this clause provided.
The Special Record Date for the payment of such Defaulted Interest 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
notification to the Trustee of the proposed payment. The Trustee shall, in the name and at the
expense of the Company cause notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor to be mailed, first-class postage prepaid, to the Holder of such
Registered Security (or a Predecessor Security thereof) at his address as it appears in the
Security Register not less than 10 days prior to such Special Record Date. The Trustee may, in its
discretion, in the name and at the expense of the Company cause a similar notice to be published at
least once in an Authorized Newspaper of general circulation in the Borough of Manhattan, The City
of New York, but such publication shall not be a condition precedent to the establishment of such
Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special
Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the
Person in whose name such Registered Security (or a Predecessor Security thereof) shall be
registered at the close of business on such Special Record Date and shall no longer be payable
pursuant to the following clause (2).

     (2) The Company may make payment of any Defaulted Interest in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such Security 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 payment shall be deemed
practicable by the Trustee.

Unless otherwise provided in or pursuant to this Indenture or the Securities of any particular
series pursuant to the provisions of this Indenture, at the option of the Company, interest on
Registered Securities that bear interest may be paid at the office or agency of the Company
maintained for such purposes in the Borough of Manhattan, City of New York, or by mailing a check
to the address of the Person entitled thereto as such address shall appear in the Security Register
or by transfer to an account maintained by the payee with a bank located in the United States.

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Notwithstanding the foregoing, a holder of $1,000,000 or more in aggregate principal amount of
Securities of any series of global Securities (or its equivalent in a Foreign Currency, if the
currency unit is a Foreign Currency), whether having identical or different terms and provisions,
having the same interest payment dates will be entitled to receive interest payments, other than at
Maturity, by wire transfer of immediately available funds if appropriate wire transfer instructions
have been received in writing by the Trustee for the Securities of such series at least 15 days
prior to the applicable Interest Payment Date. In addition to the foregoing, a holder of
$1,000,000 or more in aggregate principal amount of Securities of any series of global Securities
(or its equivalent in a Foreign Currency, if the currency unit is a Foreign Currency), whether
having identical or different terms and provisions, having the same Maturity will be entitled to
receive payment at Maturity by wire transfer of immediately available funds if appropriate wire
transfer instructions have been received in writing by the Trustee for the Securities of such
series at least 15 days prior to Maturity; provided, however, that such payments shall be made
subject to applicable laws and regulations and only after surrender of the global Securities to the
Company, the corporate trust office or the Paying Agent, for such global Securities not later than
one Business Day prior to Maturity. Any wire instructions received by the Trustee for the
Securities of such series shall remain in effect until revoked by the Holder.

Subject to the foregoing provisions of this Section and Section 3.5, 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.

In the case of any Registered Security of any series that is convertible into other securities of
the Company or exchangeable for securities of another issuer, which Registered Security is
converted or exchanged after any Regular Record Date and on or prior to the next succeeding
Interest Payment Date (other than any Registered Security with respect to which the Stated Maturity
is prior to such Interest Payment Date), interest with respect to which the Stated Maturity is on
such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such
conversion or exchange, and such interest (whether or not punctually paid or duly provided for)
shall be paid to the Person in whose name that Registered Security (or one or more predecessor
Registered Securities) is registered at the close of business on such Regular Record Date. Except
as otherwise expressly provided in the immediately preceding sentence, in the case of any
Registered Security which is converted or exchanged, interest with respect to which the Stated
Maturity is after the date of conversion or exchange of such Registered Security shall not be
payable.

Section 3.8 Persons Deemed Owners.

Prior to due presentment of a Registered Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name such
Registered Security is registered in the Security Register as the owner of such Registered Security
for the purpose of receiving payment of principal of, and any premium or (subject to Sections 3.5
and 3.7) interest, if any, on such Registered Security and for all other purposes whatsoever,
whether or not any payment with respect to such Registered Security shall be

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overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be
affected by notice to the contrary.

The Company, the Trustee and any agent of the Company or the Trustee may treat the bearer of any
Bearer Security or the bearer of any Coupon as the absolute owner of such Security or Coupon for
the purpose of receiving payment thereof or on account thereof and for all other purposes
whatsoever, whether or not any payment with respect to such Security or Coupon shall 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.

No Holder of any beneficial interest in any global Security held on its behalf by a Depository
shall have any rights under this Indenture with respect to such global Security, and such
Depository may be treated by the Company, the Trustee, and any agent of the Company or the Trustee
as the owner of such global Security for all purposes whatsoever. None of the Company, the
Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for
any aspect of the records relating to or payments made on account of beneficial ownership interests
of a global Security or for maintaining, supervising or reviewing any records relating to such
beneficial ownership interests.

Section 3.9 Cancellation.

All Securities and Coupons surrendered for payment, redemption, registration of transfer, exchange
or conversion or for credit against any sinking fund payment shall, if surrendered to any Person
other than the Trustee, be delivered to the Trustee, and any such Securities and Coupons, as well
as Securities and Coupons surrendered directly to the Trustee for any such purpose, shall be
cancelled promptly by the Trustee. The Company may at any time deliver to the Trustee for
cancellation any Securities previously authenticated and delivered hereunder which the Company may
have acquired in any manner whatsoever, and all Securities so delivered shall be cancelled promptly
by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities
cancelled as provided in this Section, except as expressly permitted by or pursuant to this
Indenture. All cancelled Securities and Coupons held by the Trustee shall be destroyed by the
Trustee in its customary manner and the Trustee shall deliver a certificate of disposition to the
Company upon its written request therefor, unless by a Company Order, the Company directs their
return to it.

Section 3.10 Computation of Interest.

Except as otherwise provided in or pursuant to this Indenture or in any Security, interest on the
Securities shall be computed on the basis of a 360-day year of twelve 30-day months.

Section 3.11 CUSIP Numbers.

The Company in issuing the Securities may use “CUSIP,” “CINS” and “ISIN” numbers (if then
generally in use), and the Trustee shall use CUSIP, CINS or ISIN numbers, as the case may be, in
notice of redemptions or exchanges as a convenience to Holders and no presentation shall be made as
to the correctness of such numbers either as printed on the Securities or as contained in

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any notice of redemption or exchange. The Company shall promptly notify the Trustee of any change
in CUSIP, CINS or ISIN numbers.

ARTICLE 4 —  SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE AND COVENANT DEFEASANCE

Section 4.1  Satisfaction and Discharge.

Upon the direction of the Company by a Company Order, this Indenture shall cease to be of further
effect with respect to any series of Securities specified in such Company Order and any Coupons
appertaining thereto (except as to any surviving rights of Securities of such series expressly
provided for herein or pursuant thereto), and the Trustee, on receipt of a Company Order, at the
expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge
of this Indenture as to such series, when

     (1) either

          (a) all Securities of such series theretofore authenticated and delivered and all Coupons
appertaining thereto (other than (i) Coupons appertaining to Bearer Securities of such series
surrendered in exchange for Registered Securities of such series and maturing after such exchange
whose surrender is not required or has been waived as provided in Section 3.5, (ii) Securities and
Coupons of such series which have been destroyed, lost or stolen and which have been replaced or
paid as provided in Section 3.6, (iii) Coupons appertaining to Securities of such series called for
redemption and maturing after the relevant Redemption Date whose surrender has been waived as
provided in Section 11.7, and (iv) Securities and Coupons of such series for whose payment money
has theretofore been deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust, as provided in Section 10.3) have
been delivered to the Trustee for cancellation; or

          (b) all Securities of such series and, in the case of (i) or (ii) of this subclause (b) below,
any Coupons appertaining thereto not theretofore delivered to the Trustee for cancellation (i) have
become due and payable, or (ii) will become due and payable at their Stated Maturity within one
year, or (iii) if redeemable at the option of the Company, are to be called for redemption within
one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by
the Trustee in the name, and at the expense, of the Company, and the Company, in the case of
subclause (b)(i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as
trust funds in trust for such purpose, money in the Currency in which such Securities are payable
in an amount sufficient to pay and discharge the entire Indebtedness represented by such Securities
and any Coupons appertaining thereto not theretofore delivered to the Trustee for cancellation,
including the principal of, and any premium or interest, if any, on such Securities and any Coupons
appertaining thereto, to the date of such deposit (in the case of Securities which have become due
and payable) or to the Maturity thereof, as the case may be;

     (2) the Company has paid or caused to be paid all other sums payable hereunder by the Company
with respect to the Outstanding Securities of such series and any Coupons appertaining thereto; and

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     (3) the Company has delivered to the Trustee an Opinion of Counsel and an Officers’
Certificate, each stating that, in the opinion of such officer or counsel, as the case may be, all
conditions precedent herein provided for relating to the satisfaction and discharge of this
Indenture as to such series have been complied with.

In the event there are Securities of two or more series hereunder, the Trustee shall be required to
execute an instrument acknowledging satisfaction and discharge of this Indenture only if requested
to do so with respect to Securities of such series as to which it is Trustee and if the other
conditions thereto are met.

Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of
Securities, the obligations of the Company to the Trustee under Section 6.6 and, if money shall
have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section, the
obligations of the Company and the Trustee with respect to the Securities of each series under
Sections 3.5, 3.6, 4.3, 10.2 and 10.3, and with respect to any rights to convert or exchange such
Securities into securities of the Company or another issuer, shall survive.

Section 4.2 Defeasance and Covenant Defeasance.

     (1) Unless pursuant to Section 3.1, either or both of (i) defeasance of the Securities of or
within a series under clause (2) of this Section 4.2 shall not be applicable with respect to the
Securities of such series or (ii) covenant defeasance of the Securities of or within a series under
clause (3) of this Section 4.2 shall not be applicable with respect to the Securities of such
series, then such provisions, together with the other provisions of this Section 4.2 (with such
modifications thereto as may be specified pursuant to Section 3.1 with respect to any Securities),
shall be applicable to such Securities and any Coupons appertaining thereto, and the Company may at
its option by Board Resolution, at any time, with respect to such Securities and any Coupons
appertaining thereto, elect to have Section 4.2(2) or Section 4.2(3) be applied to such Outstanding
Securities and any Coupons appertaining thereto upon compliance with the conditions set forth below
in this Section 4.2.

     (2) Upon the Company’s exercise of the above option applicable to this Section 4.2(2) with
respect to any Securities of or within a series, the Company shall be deemed to have been
discharged from its obligations with respect to such Outstanding Securities and any Coupons
appertaining thereto on the date the conditions set forth in clause (4) of this Section 4.2 are
satisfied (hereinafter, “defeasance”). For this purpose, such defeasance means that the Company
shall be deemed to have paid and discharged the entire Indebtedness represented by such Outstanding
Securities and any Coupons appertaining thereto, which shall thereafter be deemed to be
“Outstanding” only for the purposes of clause (5) of this Section 4.2 and the other Sections of
this Indenture referred to in clauses (i) and (ii) below, and to have satisfied all of its other
obligations under such Securities and any Coupons appertaining thereto, and this Indenture insofar
as such Securities and any Coupons appertaining thereto are concerned (and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging the same), except for the
following which shall survive until otherwise terminated or discharged hereunder: (i) the rights of
Holders of such Outstanding Securities and any Coupons appertaining thereto to receive, solely from
the trust fund described in clause (4) of this Section 4.2 and as more fully set

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forth in such clause, payments in respect of the principal of (and premium, if any) and
interest, if any, on such Securities and any Coupons appertaining thereto when such payments are
due, and any rights of such Holder to convert such Securities into other securities of the Company
or exchange such Securities for securities another issuer, (ii) the obligations of the Company and
the Trustee with respect to such Securities under Sections 3.5, 3.6, 10.2 and 10.3, and with
respect to any rights to convert such Securities into other securities of the Company or exchange
such Securities for securities of another issuer, (iii) the rights, powers, trusts, duties and
immunities of the Trustee hereunder and (iv) this Section 4.2. The Company may exercise its option
under this Section 4.2(2) notwithstanding the prior exercise of its option under clause (3) of this
Section 4.2 with respect to such Securities and any Coupons appertaining thereto.

     (3) Upon the Company’s exercise of the option to have this Section 4.2(3) apply with respect
to any Securities of or within a series, the Company shall be released from its obligations under
Sections 10.5 and 10.6, and, to the extent specified pursuant to Section 3.1(21), any other
covenant applicable to such Securities, with respect to such Outstanding Securities and any Coupons
appertaining thereto, on and after the date the conditions set forth in clause (4) of this Section
4.2 are satisfied (hereinafter, “covenant defeasance”), and such Securities and any Coupons
appertaining thereto shall thereafter be deemed to be not “Outstanding” for the purposes of any
direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof)
in connection with any such covenant, but shall continue to be deemed “Outstanding” for all other
purposes hereunder. For this purpose, such covenant defeasance means that, with respect to such
Outstanding Securities and any Coupons appertaining thereto, the Company may omit to comply with,
and shall have no liability in respect of, any term, condition or limitation set forth in any such
Section or such other covenant, whether directly or indirectly, by reason of any reference
elsewhere herein to any such Section or such other covenant or by reason of reference in any such
Section or such other covenant to any other provision herein or in any other document and such
omission to comply shall not constitute a default or an Event of Default under Section 5.1(4) or
5.1(8) or otherwise, as the case may be, but, except as specified above, the remainder of this
Indenture and such Securities and Coupons appertaining thereto shall be unaffected thereby.

     (4) The following shall be the conditions to application of clause (2) or (3) of this Section
4.2 to any Outstanding Securities of or within a series and any Coupons appertaining thereto:

          (a) The Company shall irrevocably have deposited or caused to be deposited with the Trustee
(or another trustee satisfying the requirements of Section 6.7 who shall agree to comply with the
provisions of this Section 4.2 applicable to it) as trust funds in trust for the purpose of making
the following payments, specifically pledged as security for, and dedicated solely to, the benefit
of the Holders of such Securities and any Coupons appertaining thereto, (1) an amount in Dollars or
in such Foreign Currency in which such Securities and any Coupons appertaining thereto are then
specified as payable at Stated Maturity, or (2) Government Obligations applicable to such
Securities and Coupons appertaining thereto (determined on the basis of the Currency in which such
Securities and Coupons appertaining thereto are then specified as payable at Stated Maturity) which
through the scheduled payment of principal and interest in respect thereof in accordance with their
terms will provide, not later than one day

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before the due date of any payment of principal of (and premium, if any) and interest, if any,
on such Securities and any Coupons appertaining thereto, money in an amount, or (3) a combination
thereof, in any case, in an amount, sufficient, without consideration of any reinvestment of such
principal and interest, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to pay and
discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and
discharge, (y) the principal of (and premium, if any) and interest, if any, on such Outstanding
Securities and any Coupons appertaining thereto at the Stated Maturity of such principal or
installment of principal or premium or interest and (z) any mandatory sinking fund payments or
analogous payments applicable to such Outstanding Securities and any Coupons appertaining thereto
on the days on which such payments are due and payable in accordance with the terms of this
Indenture and of such Securities and any Coupons appertaining thereto. Provided, that
notwithstanding the foregoing, with respect to any Securities which shall at the time be listed for
trading on a stock exchange, there shall be no deposit of funds in cash and/or in Government
Obligations with the Trustee to pay the principal amount, the redemption price or any installment
of interest in order to discharge the Company’s obligations in respect of such payment if, at such
time, the rules of the such stock exchange prohibit such deposit with the Trustee.

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

          (c) No Event of Default or event which with notice or lapse of time or both would become an
Event of Default with respect to such Securities and any Coupons appertaining thereto shall have
occurred and be continuing on the date of such deposit.

          (d) In the case of an election under clause (2) of this Section 4.2, the Company shall have
delivered to the Trustee an Opinion of Counsel stating that (i) the Company has received from the
U.S. Internal Revenue Service a letter ruling, or there has been published by the U.S. Internal
Revenue Service a Revenue Ruling, or (ii) since the date of execution of this Indenture, there has
been a change in the applicable federal income tax law, in either case to the effect that, and
based thereon such opinion shall confirm that, the Holders of such Outstanding Securities and any
Coupons appertaining thereto will not recognize income, gain or loss for federal income tax
purposes as a result of such defeasance and will be subject to federal income tax on the same
amounts, in the same manner and at the same times as would have been the case if such defeasance
had not occurred.

          (e) In the case of an election under clause (3) of this Section 4.2, the Company shall have
delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Outstanding
Securities and any Coupons appertaining thereto will not recognize income, gain or loss for federal
income tax purposes as a result of such covenant defeasance and will be subject to federal income
tax on the same amounts, in the same manner and at the same times as would have been the case if
such covenant defeasance had not occurred.

          (f) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent to the defeasance or covenant

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defeasance under clause (2) or (3) of this Section 4.2 (as the case may be) have been complied
with.

          (g) Notwithstanding any other provisions of this Section 4.2(4), such defeasance or covenant
defeasance shall be effected in compliance with any additional or substitute terms, conditions or
limitations which may be imposed on the Company in connection therewith pursuant to Section 3.1.

     (5) Unless otherwise specified in or pursuant to this Indenture or any Security, if, after a
deposit referred to in Section 4.2(4)(a) has been made, (a) the Holder of a Security in respect of
which such deposit was made is entitled to, and does, elect pursuant to Section 3.1 or the terms of
such Security to receive payment in a Currency other than that in which the deposit pursuant to
Section 4.2(4)(a) has been made in respect of such Security, or (b) a Conversion Event occurs in
respect of the Foreign Currency in which the deposit pursuant to Section 4.2(4)(a) has been made,
the Indebtedness represented by such Security and any Coupons appertaining thereto shall be deemed
to have been, and will be, fully discharged and satisfied through the payment of the principal of
(and premium, if any), and interest, if any, on, such Security as the same becomes due out of the
proceeds yielded by converting (from time to time as specified below in the case of any such
election) the amount or other property deposited in respect of such Security into the Currency in
which such Security becomes payable as a result of such election or Conversion Event based on (x)
in the case of payments made pursuant to clause (a) above, the applicable market exchange rate for
such Currency in effect on the second Business Day prior to each payment date, or (y) with respect
to a Conversion Event, the applicable market exchange rate for such Foreign Currency in effect (as
nearly as feasible) at the time of the Conversion Event.

The Company shall pay and indemnify the Trustee (or other qualifying trustee, collectively for
purposes of this Section 4.2(5) and Section 4.3, the “Trustee”) against any tax, fee or other
charge, imposed on or assessed against the Government Obligations deposited pursuant to this
Section 4.2 or the principal or interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of such Outstanding Securities and
any Coupons appertaining thereto.

Anything in this Section 4.2 to the contrary notwithstanding, the Trustee shall deliver or pay to
the Company from time to time upon Company Request, any money or Government Obligations (or other
property and any proceeds therefrom) held by it as provided in clause (4) of this Section 4.2
which, in the opinion of a nationally recognized firm of independent public accountants expressed
in a written certification thereof delivered to the Trustee, are in excess of the amount thereof
which would then be required to be deposited to effect a defeasance or covenant defeasance, as
applicable, in accordance with this Section 4.2.

Section 4.3 Application of Trust Money.

Subject to the provisions of the last paragraph of Section 10.3, all money and Government
Obligations (or other property as may be provided pursuant to Section 3.1) (including the proceeds
thereof) deposited with the Trustee pursuant to Section 4.1 or 4.2 in respect of any

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Outstanding Securities of any series and any Coupons appertaining thereto shall be held in trust
and applied by the Trustee, in accordance with the provisions of such Securities and any Coupons
appertaining thereto and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the
Holders of such Securities and any Coupons appertaining thereto of all sums due and to become due
thereon in respect of principal (and premium, if any) and interest; but such money and Government
Obligations need not be segregated from other funds except to the extent required by law.

Section 4.4 Reinstatement.

     (1) If the Trustee or Paying Agent is unable to apply any money or Government Obligations in
accordance with Section 4.2(4) by reason of any legal proceeding or by reason of any order or
judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, the Company’s obligations under this Indenture and the Securities of the
applicable series issued hereunder shall be revived and reinstated as though no deposit has
occurred pursuant to Section 4.2(4) until such time as the Trustee or Paying Agent is permitted to
apply all such money or Government Obligations in accordance with and as contemplated by Section
4.2(4).

     (2) If the Company’s obligations under this Indenture and the Securities of the applicable
series issued hereunder shall be revived and reinstated in accordance with this Section 4.4, the
Company shall be permitted, at its discretion to withdraw all or a portion of the deposits made by
the Company pursuant to Section 4.2(4).

     (3) If the Company elects not to withdraw any of the deposits made by the Company pursuant to
Section 4.2(4), if and when the Trustee or Paying Agent is later permitted to apply all such money
or Government Obligations in accordance with and as contemplated by Section 4.2(4), the rights of
the Company shall be subrogated to the rights of the Holders of the Securities of the applicable
series to receive payments from the money or Government Obligations deposited by the Company
pursuant to Section 4.2(4) and held by the Trustee or Paying Agent; provided that if the Company
shall have made any payment of principal or interest on the Securities of any series because of the
revival and reinstatement of its obligations, which payment is not sourced from any amounts
deposited by the Company pursuant to Section 4.2(4) (such amount, in the aggregate, being referred
to as the “Company Paid Amount”), the Company shall be permitted, at its discretion, to withdraw
all or a portion of the deposits made by the Company pursuant to Section 4.2(4) up to the Company
Paid Amount.

ARTICLE 5 — REMEDIES

Section 5.1 Events of Default.

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

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indenture, Board Resolution or Officers’ Certificate establishing the terms of such Series pursuant
to this Indenture:

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

     (2) default in the payment of the principal of or any premium on any Security of such series
when such principal or premium becomes due and payable at their Maturity; or

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

     (4) default in the performance, or breach, of any covenant or agreement of the Company in this
Indenture with respect to any Security of that series (other than a covenant or agreement a default
in whose performance or whose breach is elsewhere in this Section specifically dealt with and other
than a covenant or agreement included in this Indenture solely for the benefit of another series of
Securities), and continuance of such default or breach for a period of 60 days after there has been
given, by registered or certified mail, to the Company by the Trustee or to the Company and the
Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that
series a written notice specifying such default or breach and requiring it to be remedied and
stating that such notice is a “Notice of Default” hereunder; or

     (5) any event of default, as defined in any mortgage, indenture (including this Indenture),
trust agreement or other instrument securing, evidencing or providing for any evidence of any
Indebtedness of the Company (including guaranteed Indebtedness but excluding any Indebtedness that
is subordinated in right of payment to the Securities of such series), as a result of which an
aggregate principal amount exceeding $25,000,000 of such Indebtedness shall have been declared due
and payable prior to the date on which it would otherwise become due and payable, and such default
shall not be cured or waived or such acceleration shall not have been rescinded or annulled within
a period of 30 days after there shall have been given, by registered or certified mail, to the
Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in
principal amount of the Outstanding Securities of such series, a written notice specifying such
failure to pay and requiring the Company to cause such acceleration to be rescinded or annulled or
to cause such Indebtedness to be discharged and stating that such notice is a “Notice of Default”
hereunder; or

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

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

          (b) appoints a Custodian of the Company or for all or substantially all of the property of the
Company; or

          (c) orders the liquidation of the Company;

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and the order or decree remains unstayed and in effect for 60 consecutive days. The term
“Bankruptcy Law” means title 11, U.S. Code or any similar federal or state law for the relief of
debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or other similar
official under any Bankruptcy Law.

     (7) the commencement by the Company of a voluntary proceeding under any applicable bankruptcy,
insolvency, reorganization (other than a reorganization under a foreign law that does not relate to
insolvency) or other similar law or of a voluntary proceeding seeking to be adjudicated insolvent
or the consent by the Company to the entry of a decree or order for relief in an involuntary
proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law or to
the commencement of any insolvency proceedings against it, or the filing by the Company of a
petition or answer or consent seeking reorganization, arrangement, adjustment or composition of the
Company or relief under any applicable 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 or similar official of the Company or any substantial part of the property of the
Company or the making by the Company of an assignment for the benefit of creditors; or

     (8) any other Event of Default provided in or pursuant to this Indenture with respect to
Securities of such series.

Section 5.2 Acceleration of Maturity; Rescission and Annulment.

If an Event of Default with respect to Securities of any series at the time Outstanding (other than
an Event of Default specified in clause (6) or (7) of Section 5.1) occurs and is continuing, then
the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities
of such series may declare the principal of all the Securities of such series, or such lesser
amount as may be provided for in the Securities of such series, to be due and payable immediately,
by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any
such declaration such principal or such lesser amount shall become immediately due and payable.

If an Event of Default specified in clause (6) or (7) of Section 5.1 occurs, all unpaid principal
of and accrued interest on the Outstanding Securities of that series (or such lesser amount as may
be provided for in the Securities of such series) shall ipso facto become and be immediately due
and payable without any declaration or other act on the part of the Trustee or any Holder of any
Security of that series.

At any time after a declaration of acceleration with respect to the Securities of any series has
been made and before a judgment or decree for payment of the money due has been obtained by the
Trustee as hereinafter in this Article provided, the Holders of not less than a majority in
principal amount of the Outstanding Securities of such series, by written notice to the Company and
the Trustee, may rescind and annul such declaration and its consequences if

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

          (a) all overdue installments of any interest on all Securities of such series and any Coupon
appertaining thereto,

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          (b) the principal of and any premium on any Securities of such series which have become due
otherwise than by such declaration of acceleration and interest thereon at the rate or rates borne
by or provided for in such Securities,

          (c) to the extent that payment of such interest is lawful, interest upon overdue installments
of any interest at the rate or rates borne by or provided for in such Securities, and

          (d) all sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts
due the Trustee under Section 6.6; and

     (2) all Events of Default with respect to Securities of such series, other than the
non-payment of the principal of, or any premium and interest, if any, on 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 5.13.

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

Section 5.3
Collection of Indebtedness and Suits for Enforcement by Trustee.

The Company covenants that if a

     (1) default is made in the payment of any installment of interest on any Security or any
Coupon appertaining thereto when such interest shall have become due and payable and such default
continues for a period of 30 days, or

     (2) default is made in the payment of the principal of or any premium on any Security at its
Maturity,

the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders
of such Securities and any Coupons appertaining thereto, the whole amount of money then due and
payable with respect to such Securities and any Coupons appertaining thereto, with interest upon
the overdue principal, any premium and, to the extent that payment of such interest shall be
legally enforceable, upon any overdue installments of interest, and in addition thereto, such
further amount of money as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel and all other amounts due to the Trustee under Section 6.6.

If the Company shall fail to pay the money it is required to pay the Trustee pursuant to the
preceding paragraph forthwith upon the demand of the Trustee, the Trustee, in its own name and as
trustee of an express trust, may institute a judicial proceeding for the collection of the money so
due and unpaid, and 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 any Coupons appertaining
thereto and collect the monies 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 and any Coupons
appertaining thereto, wherever situated. Every recovery of judgment in any such action or other
proceeding, after provision for the payment of the reasonable

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compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, shall be
for the ratable benefit of each and every Holder of the Securities or Coupons in respect of which
such judgment has been recovered.

If an Event of Default with respect to Securities of any series occurs and is continuing, the
Trustee may in its discretion proceed to protect and enforce its rights and the rights of the
Holders of Securities of such series and any Coupons appertaining thereto 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 such
Securities or in aid of the exercise of any power granted herein or therein, or to enforce any
other proper remedy.

Section 5.4 Trustee May File Proofs of Claim.

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization,
arrangement, adjustment, composition or other judicial proceeding relative to the Company or any
other obligor upon the Securities of any series or the property of the Company or 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 any overdue
principal, premium or interest) shall be entitled and empowered, by intervention in such proceeding
or otherwise,

     (1) to file and prove a claim for the whole amount, or such lesser amount as may be provided
for in the Securities of any applicable series, of the principal and any premium and interest in
respect of the Securities and any Coupons appertaining thereto and to file such other papers or
documents as may be necessary or advisable in order to have the claims of the Trustee (including
any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents or counsel) and of the Holders of Securities or any Coupons appertaining thereto allowed in
such judicial proceeding, and

     (2) to collect and receive any monies 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 of Securities or any Coupons 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 of Securities or any Coupons, to pay to the Trustee any
amount due to it for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel and any other amounts due the Trustee under Section 6.6.

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

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Section 5.5 Trustee May Enforce Claims without Possession of Securities or Coupons.

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

Section 5.6 Application of Money Collected.

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

     (1) To the payment of all amounts due the Trustee and any predecessor Trustee under Section
6.6;

     (2) To the payment of the amounts then due and unpaid upon the Securities and any Coupons for
principal and any premium and interest, ratably, without preference or priority of any kind,
according to the aggregate amounts due and payable on such Securities and Coupons for principal and
any premium and interest, respectively;

     (3) The balance, if any, to the Company, its successors or assigns, or to the Person or
Persons lawfully entitled thereto.

Section 5.7 Limitations on Suits.

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

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

     (2) the Holders of a majority in principal amount outstanding of the Outstanding Securities of
such series shall have made written request to the Trustee to institute proceedings in respect of
such Event of Default in its own name as Trustee hereunder;

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

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

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

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

Section 5.8 Unconditional Right of Holders to Receive Principal and any Premium and
Interest.

Notwithstanding any other provision in this Indenture, the Holder of any Security or Coupon shall
have the right, which is absolute and unconditional, to receive payment of the principal of, any
premium and (subject to Sections 3.7 and 3.10) interest on such Security or payment of such Coupon,
as the case may be, on the respective Stated Maturity or Maturities therefor specified in such
Security or Coupon (or, in the case of redemption, on the Redemption Date or, in the case of
repayment at the option of such Holder if provided in or pursuant to this Indenture, on the date
such repayment is due) and to institute suit for the enforcement of any such payment, and such
right shall not be impaired without the consent of such Holder.

Section 5.9 Restoration of Rights and Remedies.

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

Section 5.10 Rights and Remedies Cumulative.

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities or Coupons in the last paragraph of Section 3.6, no right or remedy
herein conferred upon or reserved to the Trustee or to each and every Holder of a Security or a
Coupon is intended to be exclusive of any other right or remedy, and every right and remedy, to the
extent permitted by law, shall be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by
law, prevent the concurrent assertion or employment of any other appropriate right or remedy.

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Section 5.11 Delay or Omission Not Waiver.

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

Section 5.12 Control by Holders of Securities.

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

     (1) such direction shall not be in conflict with any rule of law or with this Indenture or
with the Securities of such series,

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

     (3) such direction is not unduly prejudicial to the rights of the other Holders of Securities
of such series not joining in such action.

Section 5.13 Waiver of Past Defaults.

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

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

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

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

Section 5.14 Waiver of Usury, Stay or Extension Laws.

The Company covenants that (to the extent that it may lawfully do so) it will not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any

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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 expressly waives (to the
extent that it may lawfully do so) 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.

Section 5.15 Undertaking for Costs.

All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken or omitted by it as Trustee, the filing by any party litigant in such suit of any
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 5.15 shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more
than 10% in principal amount of Outstanding Securities of any series, or to any suit instituted by
any Holder for the enforcement of the payment of the principal of (or premium, if any) or interest,
if any, on any Security on or after the respective Stated Maturities expressed in such Security
(or, in the case of redemption or repurchase, on or after the Redemption Date, and, in the case of
repayment or repurchase, on or after the date for repayment or repurchase) or for the enforcement
of the right, if any, to convert or exchange any Security into other securities in accordance with
its terms.

ARTICLE 6 — THE TRUSTEE 

Section 6.1 Certain Rights of Trustee.

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

     (1) 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, coupon or other paper or document believed by it to be
genuine and to have been signed or presented by the proper party or parties.

     (2) Any request or direction of the Company mentioned herein shall be sufficiently evidenced
by a Company Request or Company Order (other than delivery of any Security, together with any
coupons appertaining thereto, to the Trustee for authentication and delivery pursuant to Section
3.3 which shall be sufficiently evidenced as provided therein) and any resolution of the Board of
Directors may be sufficiently evidenced by a Board Resolution.

     (3) Whenever in the administration of this Indenture the Trustee shall deem it desirable that
a matter be proved or established prior to taking, suffering or omitting any action hereunder, the
Trustee (unless other evidence shall be herein specifically prescribed) may, in the

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absence of bad faith on its part, rely upon a Board Resolution, an Opinion of Counsel or an
Officers’ Certificate.

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

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

     (6) The Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, coupon or other paper or document, but the Trustee, in its
discretion, may make such further inquiry or investigation into such facts or matters as it may see
fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be
entitled to examine the books, records and premises of the Company, personally or by agent or
attorney.

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

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

     (9) The Trustee shall not be charged with knowledge of any default or Event of Default with
respect to the Securities of any series unless either (1) such default or Event of Default is
known, or ought reasonably to have been known, by a Responsible Officer of the Trustee or (2)
written notice of such default or Event of Default shall have been given to the Trustee by the
Company or any other obligor on the Securities of any series or by any Holder of the Securities of
any series.

     (10) The Trustee shall not be required 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.

Section 6.2 Notice of Defaults.

Within 90 days after the occurrence of any default hereunder with respect to the Securities of any
series, the Trustee shall transmit by mail to all Holders of Securities of such series entitled to
receive reports pursuant to Section 7.3(3), notice of such default hereunder actually known to a

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Responsible Officer of the Trustee, unless such default shall have been cured or waived; provided,
however, that, except in the case of a default in the payment of the principal of (or premium, if
any), or interest, if any, on, or any sinking fund or purchase fund installment with respect to,
any Security of such series, the Trustee shall be protected in withholding such notice if and so
long as the board of directors, the executive committee or a trust committee of directors and/or
Responsible Officers of the Trustee in good faith determine that the withholding of such notice is
in the best interest of the Holders of Securities and Coupons of such series; and provided,
further, that in the case of any default of the character specified in Sections 5.1(4) and 5.1(5)
with respect to Securities of such series, no such notice to Holders shall be given until such
default shall have become an Event of Default with respect to Securities of such series. For the
purpose of Sections 6.1 and 6.2, the term “default” means any event that is, or after notice or
lapse of time or both would become, an Event of Default with respect to Securities of such series.

Section 6.3 Not Responsible for Recitals or Issuance of Securities.

The recitals contained herein and in the Securities, except the Trustee’s certificate of
authentication, and in any Coupons shall be taken as the statements of the Company, and neither the
Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee
makes no representations as to the validity or sufficiency of this Indenture or of the Securities
or Coupons, except that the Trustee represents that it is duly authorized to execute and deliver
this Indenture, authenticate the Securities and perform its obligations hereunder and that the
statements made by it in a Statement of Eligibility on Form T-1 supplied to the Company are true
and accurate, subject to the qualifications set forth therein. Neither the Trustee nor any
Authenticating Agent shall be accountable for the use or application by the Company of Securities
or the proceeds thereof.

Section 6.4 May Hold Securities.

The Trustee, any Paying Agent, Security Registrar, Authenticating Agent or any other agent of the
Company, in its individual or any other capacity, may become the owner or pledgee of Securities and
Coupons and, subject to Trust Indenture Act Sections 310(b) and 311, may otherwise deal with the
Company with the same rights it would have if it were not Trustee, Paying Agent, Security
Registrar, Authenticating Agent or such other agent.

Section 6.5 Money Held in Trust.

Except as provided in Section 4.3 and Section 10.3, money held by the Trustee in trust hereunder
need not be segregated from other funds except to the extent required by law and shall be held
uninvested. The Trustee shall be under no liability for interest on any money received by it
hereunder except as otherwise agreed to in writing with the Company.

Section 6.6 Compensation and Reimbursement.

The Company agrees:

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     (1) 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).

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

     (3) to indemnify
each of the Trustee and any predecessor Trustee for, and to hold it harmless against, any loss,
liability or expense incurred without negligence or bad faith on its own part, arising out of or in
connection with the acceptance or administration of the trust or trusts hereunder, including the
costs and expenses of defending itself against any claim or liability in connection with the
exercise or performance of any of its powers or duties hereunder, except to the extent that any
such loss, liability or expense was due to the Trustee’s negligence or bad faith.

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

To the extent permitted by law, any compensation or expense incurred by the Trustee after a default
specified in or pursuant to Section 5.1 is intended to constitute an expense of administration
under any then applicable bankruptcy or insolvency law. “Trustee” for purposes of this Section 6.6
shall include any predecessor Trustee but the negligence or bad faith of any Trustee shall not
affect the rights of any other Trustee under this Section 6.6.

The provisions of this Section 6.6 shall survive the satisfaction and discharge of this Indenture
or the earlier resignation or removal of the Trustee and shall apply with equal force and effect to
the Trustee in its capacity as Authenticating Agent, Paying Agent or Security Registrar.

Section 6.7 Corporate Trustee Required; Eligibility.

There shall at all times be a Trustee hereunder that is a Corporation organized and doing business
under the laws of the United States of America, any state thereof or the District of Columbia, that
is eligible under Section 310(a)(1) of the Trust Indenture Act to act as trustee under an indenture
qualified under the Trust Indenture Act and that has a combined capital and surplus (computed in
accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000, and that is
subject to supervision or examination by Federal or state authority. If at any time the Trustee
shall cease to be eligible in accordance with the provisions of this Section, it shall resign
immediately in the manner and with the effect hereinafter specified in this Article.

Section 6.8 Resignation and Removal; Appointment of Successor.

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     (1) 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 pursuant to Section 6.9.

     (2) The Trustee may resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company. If the instrument of acceptance by a successor
Trustee required by Section 6.9 shall not have been delivered to the Trustee within 90 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 such series.

     (3) 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 the Company.

     (4) If at any time:

          (a) the Trustee shall fail to comply with the obligations imposed upon it under Section 310(b)
of the Trust Indenture Act with respect to Securities of any series after written request therefor
by the Company or any Holder of a Security of such series who has been a bona fide Holder of a
Security of such series for at least six months, or

          (b) the Trustee shall cease to be eligible under Section 6.7 and shall fail to resign after
written request therefor by the Company or any such Holder, or

          (c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent
or a receiver of the Trustee or of its property shall be appointed or any public officer shall take
charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then, in any such case, (i) the Company, by or pursuant to a Board
Resolution, may remove the Trustee with respect to all Securities or the Securities of such series,
or (ii) subject to Section 315(e) of the Trust Indenture Act, any Holder of a Security who has been
a bona fide Holder of a Security of such series for at least six months may, on behalf of himself
and all others similarly situated, petition any court of competent jurisdiction for the removal of
the Trustee with respect to all Securities of such series and the appointment of a successor
Trustee or Trustees.

     (5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the Securities of one or more
series, the Company, by or pursuant to a Board Resolution, shall promptly appoint a successor
Trustee or Trustees with respect to the Securities of such series (it being understood that any
such successor Trustee may be appointed with respect to the Securities of one or more or all of
such series and that at any time there shall be only one Trustee with respect to the Securities of
any particular series) and shall comply with the applicable requirements of Section 6.9. If,
within one year after such resignation, removal or incapacity, 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

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requirements of Section 6.9, 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 within
90 days after such appointment might have been made hereunder by the Company or the Holders of
Securities and accepted appointment in the manner required by Section 6.9, any Holder of a Security
who has been a bona fide Holder of a Security of such series for at least six months may, on behalf
of himself and all others similarly situated, petition any court of competent jurisdiction for the
appointment of a successor Trustee with respect to the Securities of such series.

     (6) 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 the Holders of Registered Securities, if any, of such series as their names and
addresses appear in the Security Register and, if Securities of such series are issued as Bearer
Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of
Payment located outside the United States. 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.

     (7) In no event shall any retiring Trustee be liable for the acts or omissions of any
successor Trustee hereunder.

Section 6.9 Acceptance of Appointment by Successor.

     (1) Upon the appointment hereunder of any successor Trustee with respect to all Securities,
such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and the
retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal
of the retiring Trustee shall become effective and such successor Trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, trusts and duties hereunder of
the retiring Trustee; but, on the request of the Company or such successor Trustee or the Holders
of at least 10% in principal amount of the applicable series of Securities then Outstanding, such
retiring Trustee, upon payment of its charges, shall execute and deliver an instrument transferring
to such successor Trustee all the rights, powers and trusts of the retiring Trustee and, subject to
Section 10.3, shall duly assign, transfer and deliver to such successor Trustee all property and
money held by such retiring Trustee hereunder, subject nevertheless to its claim, if any, provided
for in Section 6.6.

     (2) Upon the appointment hereunder of any successor Trustee with respect to the Securities of
one or more (but not all) series, the Company, the retiring Trustee and such successor Trustee
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, such 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

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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, 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 that no Trustee
shall be responsible for any notice given to, or received by, or any act or failure to act on the
part of any other Trustee hereunder, 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, such retiring Trustee shall have no further responsibility for the exercise of
rights and powers or for the performance of the duties and obligations vested in the Trustee under
this Indenture with respect to the Securities of that or those series to which the appointment of
such successor Trustee relates other than as hereinafter expressly set forth, and such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the retiring Trustee 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 such successor Trustee, such retiring Trustee, upon payment of its charges with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates and
subject to Section 10.3 shall duly assign, transfer and deliver to such successor Trustee, to the
extent contemplated by such supplemental indenture, the 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, subject to its claim, if any, provided for in Section 6.6.

     (3) Upon request of any Person appointed hereunder as a successor Trustee, the Company shall
execute any and all instruments for more fully and certainly vesting in and confirming to such
successor Trustee all such rights, powers and trusts referred to in paragraph (1) or (2) of this
Section, as the case may be.

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

Section 6.10 Merger, Conversion, Consolidation or Succession to Business.

Any Corporation into which, the Trustee may be merged or converted or with which it may be
consolidated, or any Corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any Corporation succeeding to all or substantially all of the
corporate agency or corporate trust business of the Trustee, shall be the successor of the Trustee
hereunder, without the execution or filing of any paper or any further act on the part of any of
the parties hereto, provided, that such Corporation shall be otherwise qualified and eligible under
this Section. 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

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authenticating Trustee may adopt such authentication and deliver the Securities so authenticated
with the same effect as if such successor Trustee had itself authenticated such Securities.

Section 6.11 Appointment of Authenticating Agent.

The Trustee may appoint one or more Authenticating Agents acceptable to the Company with respect to
one or more series of Securities, and which shall be authorized to act on behalf of the Trustee to
authenticate Securities of that or those series issued upon original issue, exchange, registration
of transfer, partial redemption or partial repayment or pursuant to Section 3.6, and 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 must be acceptable to the Company and, except as provided in or pursuant
to this Indenture, shall at all times be a Corporation that would be permitted by the Trust
Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act, is
authorized under applicable law and by its charter to act as an Authenticating Agent and has a
combined capital and surplus (computed in accordance with Section 310(a)(2) of the Trust Indenture
Act) of at least $50,000,000. If at any time an Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in the manner and with
the effect specified in this Section.

Any Corporation into which an Authenticating Agent may be merged 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 all or substantially
all of the corporate agency or corporate trust business of an Authenticating Agent, shall be the
successor of such Authenticating Agent hereunder, 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 and shall (i) mail written
notice of such appointment by first-class mail, postage prepaid, to all Holders of Registered
Securities, if any, of the series with respect to which such Authenticating Agent shall serve, as
their names and addresses appear in the Security Register, and (ii) if Securities of the series are
issued as Bearer Securities, publish notice of such appointment at least once in an Authorized
Newspaper in the place where such successor Authenticating Agent has its principal office if such
office is located outside the United States. Any successor Authenticating Agent, upon acceptance
of its appointment hereunder, shall

54

 

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 each Authenticating Agent from time to time reasonable compensation for
its services under this Section. If the Trustee makes such payments, it shall be entitled to be
reimbursed for such payments, subject to the provisions of Section 6.6.

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

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

[     ] as Trustee

	 	 	 	 	 
	 
	 	 	 	 
	By

	 	  

as Authenticating Agent
	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	By

	 	  

Authorized Officer
	 	 

If all of the Securities of any 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 in writing (which writing need not be accompanied
by or contained in an Officers’ Certificate by the Company), shall appoint in accordance with this
Section an Authenticating Agent having an office in a Place of Payment designated by the Company
with respect to such series of Securities.

Section 6.12 Appointment of Attorney-in-Fact.

The Trustee for each series of Securities is hereby appointed, and each and every Holder of
Securities of such series, by receiving and holding the same, shall be conclusively deemed to have
appointed such Trustee, the true and lawful attorney-in-fact of such Holder, with authority to make
or file (whether or not the Company shall be in default in respect of the payment of the principal
of, or premium or interest, if any, on any of the Securities of such series), in its own name as
trustee of an express trust or otherwise as it shall deem advisable, in any receivership,
insolvency, liquidation, bankruptcy, reorganization, or other judicial proceedings relative to the
Company or any other obligor upon such Securities or to their respective creditors or property, any
and all claims, proofs of claim, proofs of debt, petitions, consents, other papers and

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documents, and amendments of any thereof, as may be necessary or advisable in order to have the
claims of the Trustee and of the Holders of such Securities allowed in any such proceeding and to
collect and receive any moneys or other property payable or deliverable on any such claim, and to
execute and deliver any and all other papers and documents and to do and perform any and all other
acts and things, as it may deem necessary or advisable in order to enforce in any such proceedings
any of the claims of such Trustee and of any of such Holders in respect of any of the Securities of
such series; and any receiver, assignee, custodian, trustee, or debtor in any such proceedings is
hereby authorized, and each and every Holder of the Securities of such series, by receiving and
holding the same, shall be conclusively deemed to have authorized any such receiver, assignee,
custodian, trustee, or debtor, to make any such payment or delivery to or on the order of such
Trustee, and, in the event that such Trustee shall consent to the making of such payments or
deliveries directly to the Holders of the Securities of such series, to pay to such Trustee any
amount due it for reasonable compensation and expenses, including counsel fees and expenses,
incurred by it down to the date of such payment or delivery; provided, however, that nothing herein
contained shall be deemed to authorize or empower such Trustee to consent to or accept or adopt, on
behalf of any Holder of Securities of such series, any plan of reorganization or readjustment of
the Company affecting the Securities of such series or the rights of any Holder thereof, or to
authorize or empower such Trustee to vote in respect of the claim of any Holder of any Securities
of such series in any such proceedings.

Section 6.13 Additional Provisions Relating to Collateral.

     (1) Beyond the exercise of reasonable care in the custody thereof, the Trustee shall have no
duty as to any collateral in its possession or control or in the possession or control of any agent
or bailee or any income thereon or as to preservation of rights against prior parties or any other
rights pertaining thereto, and the Trustee shall not be responsible for filing any financing or
continuation statements or recording any documents or instruments in any public office at any time
or times or otherwise perfecting or maintaining the perfection of any security interest in the
collateral. The Trustee shall be deemed to have exercised reasonable care in the custody of the
collateral in its possession if the collateral is accorded treatment substantially equal to that
which it accords its own property and shall not be liable or responsible for any loss or diminution
in the value of any of the collateral, by reason of the act or omission of any carrier, forwarding
agency or other agent or bailee selected by the Trustee in good faith. The Trustee shall not be
responsible for the existence, genuineness or value of any of the collateral or for the validity,
perfection, priority or enforceability of the liens in any of the collateral, whether impaired by
operation of law or by reason of any action or omission to act on its part hereunder, except to the
extent such action or omission constitutes negligence or bad faith on the part of the Trustee, for
the validity or sufficiency of the collateral or any agreement or assignment contained therein, for
the validity of the title of the Company to the collateral, for insuring the collateral or for the
payment of taxes, charges, assessments or Liens upon the collateral or otherwise as to the
maintenance of the collateral. The Trustee shall have no duty to ascertain or inquire as to the
performance or observance of any of the terms of this Indenture or any security documents by the
Company, any secured parties or the collateral agent.

     (2) The Trustee is hereby authorized to enter into any applicable security documents related
to the security interest in any such collateral.

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ARTICLE 7 —  HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

Section 7.1 Company to Furnish Trustee Names and Addresses of Holders.

In accordance with Section 312(a) of the Trust Indenture Act, the Company shall furnish or cause to
be furnished to the Trustee

     (1) semi-annually with respect to Securities of each series not later than May 1 and November
1 of the year or upon such other dates as are set forth in or pursuant to the Board Resolution or
indenture supplemental hereto authorizing such series, a list, in each case in such form as the
Trustee may reasonably require, of the names and addresses of Holders as of the applicable date,
and

     (2) at such other times as the Trustee may request in writing, within 30 days after the
receipt by the Company of any such request, a list of similar form and content as of a date not
more than 15 days prior to the time such list is furnished, provided, however, that so long as the
Trustee is the Security Registrar no such list shall be required to be furnished.

Section 7.2 Preservation of Information; Communications to Holders.

The Trustee shall comply with the obligations imposed upon it pursuant to Section 312 of the Trust
Indenture Act.

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

Section 7.3 Reports by Trustee.

     (1) Within 60 days after September 15 of each year commencing with the first September 15
following the first issuance of Securities pursuant to Section 3.1, if required by Section 313(a)
of the Trust Indenture Act, the Trustee shall transmit, pursuant to Section 313(c) of the Trust
Indenture Act, a brief report dated as of such September 15 with respect to any of the events
specified in said Section 313(a) which may have occurred since the later of the immediately
preceding September 15 and the date of this Indenture.

     (2) The Trustee shall transmit the reports required by Section 313(a) of the Trust Indenture
Act at the times specified therein.

     (3) Reports pursuant to this Section shall be transmitted in the manner and to the Persons
required by Sections 313(c) and 313(d) of the Trust Indenture Act.

Section 7.4 Reports by Company.

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The Company, pursuant to Section 314(a) of the Trust Indenture Act, shall:

     (1) file with the Trustee, within 15 days after the Company is required to file the same with
the Commission, copies of the annual reports and of the information, documents and other reports
(or copies of such portions of any of the foregoing as the Commission may from time to time by
rules and regulations prescribe) which the Company may be required to file with the Commission
pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended; or, if
the Company is not required to file information, documents or reports pursuant to either of said
Sections, then it shall file with the Trustee and the Commission, in accordance with rules and
regulations prescribed from time to time by the Commission, such of the supplementary and periodic
information, documents and reports which may be required pursuant to Section 13 of the Securities
Exchange Act of 1934, as amended, in respect of a security listed and registered on a national
securities exchange as may be prescribed from time to time in such rules and regulations;

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

     (3) transmit to the Holders of Securities within 30 days after the filing thereof with the
Trustee, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act,
such summaries of any information, documents and reports required to be filed by the Company,
pursuant to paragraphs (1) and (2) of this Section as may be required by rules and regulations
prescribed from time to time by the Commission.

ARTICLE 8 —  CONSOLIDATION, AMALGAMATIONS, MERGER AND SALES

Section 8.1 Company May Consolidate, Etc., Only on Certain Terms.

The Company shall not, and shall not permit any of its Restricted Subsidiaries to, consolidate or
amalgamate with or merge into any other Person (whether or not affiliated with the Company), or
convey, transfer or lease its properties and assets as an entirety or substantially all of its
assets in a single transaction or series of transactions to any other Person; provided that:

     (1) a Restricted Subsidiary of the Company may (x) consolidate with or merge with, or convey,
transfer or lease substantially all of its assets in a single transaction or series of transactions
to, the Company or another Restricted Subsidiary so long as in any merger or consolidation
involving the Company, the Company shall be the surviving or continuing corporation, or (y) convey,
transfer or lease all of its assets; provided that immediately before, and immediately after giving
effect to, each such transaction, no default or Event of Default would exist; and

     (2) the foregoing restriction does not apply to the consolidation or merger of the Company
with, or the conveyance, transfer or lease of substantially all of the assets of the

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Company in a single transaction or series of transactions to, any Person so long as the
Company is the surviving corporation, or

     (a) the successor formed by such consolidation or the survivor of such merger or the Person
that acquires by conveyance, transfer or lease substantially all of the assets of the Company as an
entirety, as the case may be (the “successor Person”), shall be a solvent corporation organized and
existing under the laws of the United States of America, any State thereof or the District of
Columbia;

     (b) if the Company is not the successor Person, such corporation shall have executed and
delivered to each holder of Securities its assumption of the due and punctual performance and
observance of each covenant and condition of this Indenture and the Securities (pursuant to such
agreements and instruments as shall be reasonably satisfactory to the Required Holders of each
series), and the Company shall have caused to be delivered to each holder of Securities an opinion
of nationally recognized independent counsel, to the effect that all agreements or instruments
effecting such assumption are enforceable in accordance with their terms and comply with the terms
hereof;

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

     (d) immediately after giving effect to such transaction no default or Event of Default would
exist.

For the purpose of this Section 8.1, the term “default” means any event that is, or after notice or
lapse of time or both would become, an Event of Default with respect to Securities of such series.

Section 8.2 Successor Person Substituted for Company

Upon any consolidation or amalgamation by the Company with or merger of the Company into any other
Person or any conveyance, transfer or lease of the properties and assets of the Company
substantially as an entirety to any Person in accordance with Section 8.1, the successor Person
formed by such consolidation or amalgamation or into which the Company is merged or to which such
conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise
every right and power of, the Company under this Indenture with the same effect as if such
successor Person had been named as the Company herein; and thereafter, the predecessor Person shall
be released from all obligations and covenants under this Indenture, the Securities and the
Coupons.

ARTICLE 9 — SUPPLEMENTAL INDENTURES

Section 9.1 Supplemental Indentures without Consent of Holders.

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Without the consent of any Holders of Securities or Coupons, the Company (when authorized by or
pursuant to a Board Resolution) and the Trustee, at any time and from time to time, may enter into
one or more indentures supplemental hereto, for any of the following purposes:

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

     (2) to add to the covenants and agreements of the Company for the benefit of the Holders of
all or any series of Securities (as shall be specified in such supplemental indenture or
indentures) or to surrender any right or power herein conferred upon the Company; or

     (3) to add to or change any of the provisions of this Indenture to provide that Bearer
Securities may be registrable as to principal, to change or eliminate any restrictions on the
payment of principal of, any premium or interest on, Securities, to permit Bearer Securities to be
issued in exchange for Registered Securities, to permit Bearer Securities to be exchanged for
Bearer Securities of other authorized denominations or to permit or facilitate the issuance of
Securities in uncertificated form, provided any such action shall not adversely affect the
interests of the Holders of Outstanding Securities of any series or any Coupons appertaining
thereto in any material respect; or

     (4) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee
with respect to the Securities of one or more series and to add to or change any of the provisions
of this Indenture as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Trustee, pursuant to the requirements of Section 6.9; or

     (5) to cure any ambiguity or to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, or to make any other provisions with
respect to matters or questions arising under this Indenture, which shall not adversely affect the
interests of the Holders of Securities of any series then Outstanding or any Coupons appertaining
thereto in any material respect; or

     (6) to establish the form or terms of Securities of any series and any related Coupons as
permitted by Sections 2.1 and 3.1, including the provisions and procedures relating to Securities
convertible into or exchangeable for any securities of any Person (including the Company); or

     (7) to add any additional Events of Default with respect to all or any series of Securities
(as shall be specified in such supplemental indenture); or

     (8) to supplement any of the provisions of this Indenture to such extent as shall be necessary
to permit or facilitate the defeasance and discharge of any series of Securities pursuant to
Article 4, provided that any such action shall not adversely affect the interests of any Holder of
an Outstanding Security of such series and any Coupons appertaining thereto or any other
Outstanding Security or Coupon in any material respect; or

     (9) to secure payment on the Securities; or

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     (10) to amend or supplement any provision contained herein or in any supplemental indenture,
provided that no such amendment or supplement shall materially adversely affect the interests of
the Holders of any Securities then Outstanding.

Section 9.2 Supplemental Indentures with Consent of Holders.

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

     (1) change the Stated Maturity of the principal of, or any premium or installment of interest
on, any Security, or reduce the principal amount thereof or the rate (or modify the calculation of
such rate) of interest thereon, or any premium payable upon the redemption thereof or otherwise, or
reduce the amount of the principal of an Original Issue Discount Security that would be due and
payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2 or the
amount thereof provable in bankruptcy pursuant to Section 5.4, change the redemption provisions or
adversely affect the right of repayment at the option of any Holder as contemplated by Article 13,
or change the Place of Payment, Currency in which the principal of, any premium or interest on, any
Security is payable, or impair the right to institute suit for the enforcement of any such payment
on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption
Date or, in the case of repayment at the option of the Holder, on or after the date for repayment),
or

     (2) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose Holders is required for any such supplemental indenture, or the consent of whose
Holders is required for any waiver (of compliance with certain provisions of this Indenture or
certain defaults hereunder and their consequences) provided for in this Indenture, or reduce the
requirements of Section 15.4 for quorum or voting, or

     (3) modify any of the provisions of this Section, Section 5.13 or Section 10.4, except to
increase any such percentage or to provide that certain other provisions of this Indenture cannot
be modified or waived without the consent of the Holder of each Outstanding Security affected
thereby, or

     (4) modify any of the provisions of this Indenture relating to the subordination of the
Securities in a manner adverse to Holders of Securities, or

     (5) make any change that adversely affects the right to convert or exchange any Security into
or for securities of the Company or other securities, (whether or not issued by the Company) cash
or property in accordance with its terms.

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In computing whether the Holders of the requisite principal amount of Outstanding Securities have
taken action under this Indenture or under a supplemental indenture hereto, the Company shall use:
(i) for an Original Issue Discount security, the amount of the principal that would be due and
payable as of that date, as if the Maturity of such Security had been accelerated due to a default;
and (ii) for a Security denominated in a Foreign Currency or Currencies, the Dollar equivalent of
the outstanding principal amount as of that date, using the exchange rate in effect on the date of
original issuance of such Security.

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

It shall not be necessary for any Act of Holders of Securities 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.

Any consent given by any Holder of a Security under this Section 9.2 shall be irrevocable for a
period of six months after the day of execution thereof, but may be revoked at any time thereafter
by such Holder or by his successor in title by filing written notice of such revocation with the
Trustee at its corporate trust office; provided, however, that such consent shall not be revocable
after the holders of not less than a majority in aggregate principal amount of the Securities of
the series of which such Security is a part at the time Outstanding shall have consented to such
supplemental indenture. No notation on any Security of the fact of such consent shall be necessary,
but any such written consent by the Holder of any Security shall be conclusive and binding on all
future Holders and owners of the same Security and of all Securities delivered in exchange
therefor, unless revoked in the manner and during the period provided in this Section 9.2.

Section 9.3 Execution of Supplemental Indentures.

As a condition to executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modifications thereby of the trust created by this
Indenture, the Trustee shall be entitled to receive, and (subject to Section 315 of the Trust
Indenture Act) shall be fully protected in relying upon, an Opinion of Counsel stating that the
execution of such supplemental indenture is authorized or permitted by this Indenture and an
Officers’ Certificate stating that all conditions precedent to the execution of such supplemental
indenture have been fulfilled. The Trustee may, but shall not be obligated to, enter into any such
supplemental indenture which affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise is not reasonably acceptable to the Trustee.

Section 9.4 Effect of Supplemental Indentures.

Upon the execution of any supplemental indenture under this Article, this Indenture shall be
modified in accordance therewith, and such supplemental indenture shall form a part of this

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Indenture for all purposes; and every Holder of a Security theretofore or thereafter authenticated
and delivered hereunder and of any Coupon appertaining thereto shall be bound thereby.

Section 9.5 Reference in Securities to Supplemental Indentures.

Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities of any series so modified as to conform, in the opinion
of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by
the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities
of such series in equal aggregate principal amounts, and such exchange shall be made without cost
to the Holders.

Section 9.6 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 9.7 Effect on Senior Indebtedness.

No supplemental indenture shall directly or indirectly modify or eliminate the provisions of
Article 16 in any manner, which might terminate or impair the subordination of the Securities of
any series to any Senior Indebtedness, or adversely affect the rights of any holder of Senior
Indebtedness, without the prior written consent of the holders of such Senior Indebtedness.

Section 9.8 Notice of Supplemental Indenture.

Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant
to Section 9.2, the Company shall transmit to the Holders of Outstanding Securities of any series
affected thereby a notice setting forth in general terms the substance of such supplemental
indenture. Failure to send such notice will not impair the validity of such supplemental
indenture.

ARTICLE 10 — COVENANTS

Section 10.1 Payment of Principal, any Premium, Interest.

The Company covenants and agrees for the benefit of the Holders of the Securities of each series
that it will duly and punctually pay the principal of, and any premium or interest, if any, on the
Securities of such series in accordance with the terms thereof, any Coupons appertaining thereto
and this Indenture. Any interest due on any Bearer Security on or before the Maturity thereof,
shall be payable only upon presentation and surrender of the Coupons appertaining thereto for such
interest as they severally mature. When and as paid, all Securities of such series shall be
cancelled and destroyed in accordance with the Section 3.9 hereof.

Section 10.2 Maintenance of Office or Agency.

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The Company shall maintain in each Place of Payment for any series of Securities an Office or
Agency where Securities of such series (but not Bearer Securities, except as otherwise provided
below, unless such Place of Payment is located outside the United States) may be presented or
surrendered for payment, where Securities of such series may be surrendered for registration of
transfer or exchange, where Securities of such series that are convertible or exchangeable may be
surrendered for conversion or exchange, and where notices and demands to or upon the Company in
respect of the Securities of such series relating thereto and this Indenture may be served. If
Securities of a series are issuable as Bearer Securities, the Company shall maintain, except as
otherwise permitted or required in or pursuant to this Indenture, subject to any laws or
regulations applicable thereto, an Office or Agency in a Place of Payment for such series which is
located outside the United States where Securities of such series and any Coupons appertaining
thereto may be presented and surrendered for payment; provided, however, that if the Securities of
such series are listed on The Stock Exchange of the United Kingdom and the Republic of Ireland or
the Luxembourg Stock Exchange or any other stock exchange located outside the United States and
such stock exchange shall so require, the Company shall maintain a Paying Agent in London,
Luxembourg or any other required city located outside the United States, as the case may be, so
long as the Securities of such series are listed on such exchange. The Company will give prompt
written notice to the Trustee of the location, and any change in the location, of such Office or
Agency. If at any time the Company shall fail to maintain any such required Office or Agency or
shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices
and demands may be made or served at the Corporate Trust Office of the Trustee, except that Bearer
Securities of such series and any Coupons appertaining thereto may be presented and surrendered for
payment at the place specified for the purpose with respect to such Securities as provided in or
pursuant to this Indenture, and the Company hereby appoints the Trustee as its agent to receive all
such presentations, surrenders, notices and demands.

Except as otherwise provided in or pursuant to this Indenture, no payment of principal, premium or
interest with respect to Bearer Securities shall be made at any Office or Agency in the United
States or by check mailed to any address in the United States or by transfer to an account
maintained with a bank located in the United States; provided, however, if amounts owing with
respect to any Bearer Securities shall be payable in Dollars, payment of principal of, any premium
or interest on, any such Security may be made at the Corporate Trust Office of the Trustee or any
Office or Agency designated by the Company in the Borough of Manhattan, The City of New York, if
(but only if) payment of the full amount of such principal, premium or interest at all offices
outside the United States maintained for such purpose by the Company in accordance with this
Indenture is illegal or effectively precluded by exchange controls or other similar restrictions,
and the Company has delivered to the Trustee an Opinion of Counsel to that effect.

The Company may also from time to time designate one or more other Offices or Agencies where the
Securities of one or more series may be presented or surrendered for any or all such purposes and
may from time to time rescind such designations; provided, however, that no such designation or
rescission shall in any manner relieve the Company of its obligation to maintain an Office or
Agency in each Place of Payment for Securities of any series for such purposes. The Company shall
give prompt written notice to the Trustee of any such designation or

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rescission and of any change in the location of any such other Office or Agency. Unless otherwise
provided in or pursuant to this Indenture, the Company hereby designates as the Place of Payment
for each series of Securities the Borough of Manhattan, The City of New York, and initially appoint
the Corporate Trust Office of the Trustee as the Office or Agency of the Company in the Borough of
Manhattan, The City of New York for such purpose. The Company may subsequently appoint a different
Office or Agency in the Borough of Manhattan, The City of New York for the Securities of any
series.

Unless otherwise specified with respect to any Securities pursuant to Section 3.1, if and so long
as the Securities of any series (i) are denominated in a Foreign Currency or (ii) may be payable in
a Foreign Currency, or so long as it is required under any other provision of this Indenture, then
the Company will maintain with respect to each such series of Securities, or as so required, at
least one exchange rate agent.

Section 10.3 Money for Securities Payments to Be Held in Trust.

If the Company shall at any time act as its own Paying Agent, with respect to any series of
Securities, it shall, on or before each due date of the principal of, any premium or interest on,
any of the Securities of such series, segregate and hold in trust for the benefit of the Persons
entitled thereto a sum in the currency or currencies, currency unit or units or composite currency
or currencies in which the Securities of such series are payable (except as otherwise specified
pursuant to Section 3.1 for the Securities of such series) sufficient to pay the principal or any
premium or interest so becoming due until such sums shall be paid to such Persons or otherwise
disposed of as herein provided, and shall promptly notify the Trustee of its action or failure so
to act.

Whenever the Company shall have one or more Paying Agents for any series of Securities, it shall,
no later than 11:00 a.m. on or prior to each due date of the principal of, any premium or interest
on, any Securities of such series, deposit with any Paying Agent a sum (in the currency or
currencies, currency unit or units or composite currency or currencies described in the preceding
paragraph) sufficient to pay the principal or any premium or interest so becoming due, such sum to
be held in trust for the benefit of the Persons entitled thereto, and (unless such Paying Agent is
the Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

The Company shall cause each Paying Agent for any series of Securities other than 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:

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

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

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

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

Except as otherwise provided herein or pursuant hereto, 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, any
premium or interest on, any Security of any series or any Coupon appertaining thereto and remaining
unclaimed for two years after such principal or any such premium or interest shall have become due
and payable shall be paid to the Company on Company Request, or (if then held by the Company),
unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed
property laws, shall be discharged from such trust; and the Holder of such Security or any Coupon
appertaining thereto shall thereafter, as an unsecured general creditor, look only to the Company
for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such
trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided,
however, that the Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Company cause to be published once, in an Authorized Newspaper in each
Place of Payment for such series or to be mailed to Holders of Registered Securities of such
series, or both, notice that such money remains unclaimed and that, after a date specified therein,
which shall not be less than 30 days from the date of such publication or mailing nor shall it be
later than two years after such principal and any premium or interest shall have become due and
payable, any unclaimed balance of such money then remaining will be repaid to the Company.

Section 10.4 Corporate Existence .

Subject to Article 8, the Company shall do or cause to be done all things necessary to preserve and
keep in full force and effect its corporate existences and that of each of its Subsidiaries and its
rights (charter and statutory) and franchises; provided, however, that the foregoing shall not
obligate the Company or any of its Subsidiaries to preserve any such right or franchise if the
Company or any such Subsidiary shall determine that the preservation thereof is no longer desirable
in the conduct of its business or the business of such Subsidiary and that the loss thereof is not
disadvantageous in any material respect to any Holder.

Section 10.5 Company Statement as to Compliance; Notice of Certain Defaults.

     (1) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal
year, a written statement (which need not be contained in or accompanied by an Officers’
Certificate) signed by the principal executive officer, the principal financial officer or the
principal accounting officer of the Company, stating that

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

          (b) to the best of his or her knowledge, based on such review, (a) the Company has complied
with all the conditions and covenants imposed on it under this Indenture throughout such year, or,
if there has been a default in the fulfillment of any such condition or covenant or agreement,
specifying each such default known to him or her and the nature and status thereof, and (b) no
event has occurred and is continuing which is, or after notice or lapse of time or both would
become, an Event of Default, or, if such an event has occurred and is continuing, specifying each
such event known to him and the nature and status thereof.

     (2) The Company shall deliver to the Trustee, within five days after the occurrence thereof,
written notice of any Event of Default or any event which after notice or lapse of time or both
would become an Event of Default pursuant to clause (4) of Section 5.1.

     (3) The Trustee shall have no duty to monitor the Company’s compliance with the covenants
contained in this Article 10 other than as specifically set forth in this Section 10.5.

ARTICLE 11 — REDEMPTION OF SECURITIES

Section 11.1 Applicability of Article.

Redemption of Securities of any series at the option of the Company as permitted or required by the
terms of such Securities shall be made in accordance with the terms of such Securities and (except
as otherwise provided herein or pursuant hereto) this Article.

Section 11.2 Election to Redeem; Notice to Trustee.

The election of the Company to redeem any Securities shall be evidenced by or pursuant to a Board
Resolution. In case of any redemption at the election of the Company of (a) less than all of the
Securities of any series or (b) all of the Securities of any series, with the same issue date,
interest rate or formula, Stated Maturity and other terms, the Company shall, at least 60 days
prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to
the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities
of such series to be redeemed.

Section 11.3 Selection by Trustee of Securities to be Redeemed.

If less than all of the Securities of any series with the same issue date, interest rate or
formula, Stated Maturity and other terms are to be redeemed, the particular Securities to be
redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee from
the Outstanding Securities of such series not previously called for redemption, by such method as
the Trustee shall deem fair and appropriate and which may provide for the selection for redemption
of portions of the principal amount of Registered Securities of such series; provided, however,
that no such partial redemption shall reduce the portion of the principal amount of a Registered
Security of such series not redeemed to less than the minimum denomination for a Security of such
series established herein or pursuant hereto.

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

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

Unless otherwise specified in or pursuant to this Indenture or the Securities of any series, if any
Security selected for partial redemption is converted into other securities of the Company or
exchanged for securities of another issuer in part before termination of the conversion or exchange
right with respect to the portion of the Security so selected, the converted portion of such
Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities
which have been converted or exchanged during a selection of Securities to be redeemed shall be
treated by the Trustee as Outstanding for the purpose of such selection.

Section 11.4 Notice of Redemption.

Notice of redemption shall be given in the manner provided in Section 1.6, not less than 30 nor
more than 60 days prior to the Redemption Date, unless a shorter period is specified in the
Securities to be redeemed, to the Holders of Securities to be redeemed. Failure to give notice by
mailing in the manner herein provided to the Holder of any Registered Securities designated for
redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect
the validity of the proceedings for the redemption of any other Securities or portion thereof.

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

All notices of redemption shall state:

     (1) the Redemption Date,

     (2) the Redemption Price,

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

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

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

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

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

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

     (9) if Bearer Securities of any series are to be redeemed and no Registered Securities of such
series are to be redeemed, and if such Bearer Securities may be exchanged for Registered Securities
not subject to redemption on the Redemption Date pursuant to Section 3.5 or otherwise, the last
date, as determined by the Company, on which such exchanges may be made,

     (10) in the case of Securities of any series that are convertible into Common Stock of the
Company or exchangeable for other securities, the conversion or exchange price or rate, the date or
dates on which the right to convert or exchange the principal of the Securities of such series to
be redeemed will commence or terminate and the place or places where such Securities may be
surrendered for conversion or exchange, and

     (11) the CUSIP number or the Euroclear or Cedel reference numbers of such Securities, if any
(or any other numbers used by a Depository to identify such Securities).

A notice of redemption published as contemplated by Section 1.6 need not identify particular
Registered Securities to be redeemed.

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by
the Company or, at the Company’s request, by the Trustee in the name and at the expense of the
Company.

Section 11.5 Deposit of Redemption Price.

On or prior to any Redemption Date, the Company shall deposit, with respect to the Securities of
any series called for redemption pursuant to Section 11.4, with the Trustee or with a Paying Agent
(or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in
Section 10.3) an amount of money in the applicable Currency sufficient to pay the Redemption Price
of, and (except if the Redemption Date shall be an Interest Payment Date, unless otherwise
specified pursuant to Section 3.1 or in the Securities of such series) any accrued interest on, all
such Securities or portions thereof which are to be redeemed on that date.

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Section 11.6 Securities Payable on Redemption Date.

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the
Redemption Date, become due and payable at the Redemption Price therein specified, and from and
after such date (unless the Company shall default in the payment of the Redemption Price and
accrued interest) such Securities shall cease to bear interest and the Coupons for such interest
appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall
be void. Upon surrender of any such Security for redemption in accordance with said notice,
together with all Coupons, if any, appertaining thereto maturing after the Redemption Date, such
Security shall be paid by the Company at the Redemption Price, together with any accrued interest
to the Redemption Date; provided, however, that, except as otherwise provided in or pursuant to
this Indenture or the Bearer Securities of such series, installments of interest on Bearer
Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable only upon
presentation and surrender of Coupons for such interest (at an Office or Agency located outside the
United States except as otherwise provided in Section 10.2), and provided, further, that, except as
otherwise specified in or pursuant to this Indenture or the Registered Securities of such series,
installments of interest on Registered Securities whose Stated Maturity is on or prior to the
Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business on the Regular Record Dates therefor
according to their terms and the provisions of Section 3.7.

If any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant
Coupons maturing after the Redemption Date, such Security may be paid after deducting from the
Redemption Price an amount equal to the face amount of all such missing Coupons, or the surrender
of such missing Coupon or Coupons may be waived by the Company and the Trustee if there be
furnished to them such security or indemnity as they may require to save each of them and any
Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the Trustee or
any Paying Agent any such missing Coupon in respect of which a deduction shall have been made from
the Redemption Price, such Holder shall be entitled to receive the amount so deducted; provided,
however, that any interest represented by Coupons shall be payable only upon presentation and
surrender of those Coupons at an Office or Agency for such Security located outside of the United
States except as otherwise provided in Section 10.2.

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

Section 11.7 Securities Redeemed in Part.

Any Registered Security which is to be redeemed only in part shall be surrendered at any Office or
Agency for such Security (with, if the Company or the Trustee so requires, due endorsement by, or a
written instrument of transfer in form satisfactory to the Company and the Trustee duly executed
by, the Holder thereof or his attorney duly authorized in writing) and the Company shall execute
and the Trustee shall authenticate and deliver to the Holder of such Security without service
charge, a new Registered Security or Securities of the same series, containing identical terms and
provisions, of any authorized denomination as requested by such Holder in

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aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of
the Security so surrendered. If a Security in global form is so surrendered, the Company shall
execute, and the Trustee shall authenticate and deliver to the U.S. Depository or other Depository
for such Security in global form as shall be specified in the Company Order with respect thereto to
the Trustee, without service charge, a new Security in global form in a denomination equal to and
in exchange for the unredeemed portion of the principal of the Security in global form so
surrendered.

Section 11.8 Cancellation and Destruction of Securities

All Securities redeemed and paid pursuant to the provisions of this Article 11 shall be cancelled
and destroyed, as provided in Section 3.9, and, except in the case of partial redemption of any
Security, no Security shall be issued under this Indenture in lieu thereof.

ARTICLE 12 — SINKING FUNDS

Section 12.1 Applicability of Article.

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

The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of
such minimum amount provided for by the terms of Securities of such series is herein referred to as
an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.2.
Each sinking fund payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series and this Indenture.

Section 12.2 Satisfaction of Sinking Fund Payments with Securities.

The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the
Securities of any series to be made pursuant to the terms of such Securities (1) deliver
Outstanding Securities of such series (other than any of such Securities previously called for
redemption or any of such Securities in respect of which cash shall have been released to the
Company), together in the case of any Bearer Securities of such series with all unmatured Coupons
appertaining thereto, and (2) apply as a credit Securities of such series which have been redeemed
either at the election of the Company pursuant to the terms of such series of Securities or through
the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, provided that such series of Securities have not been previously so credited. Such
Securities shall be received and credited for such purpose by the Trustee at the Redemption Price
specified in such Securities for redemption through operation of the sinking fund and the amount of
such sinking fund payment shall be reduced accordingly. If, as a result of the delivery or credit
of Securities of any series in lieu of cash payments pursuant to this Section 12.2, the principal
amount of Securities of such series to be redeemed in order to satisfy the remaining sinking fund
payment shall be less than $100,000, the Trustee need not call Securities of such

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series for redemption, except upon Company Request, and such cash payment shall be held by the
Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided,
however, that the Trustee or such Paying Agent shall at the request of the Company from time to
time pay over and deliver to the Company any cash payment so being held by the Trustee or such
Paying Agent upon delivery by the Company to the Trustee of Securities of that series purchased by
the Company having an unpaid principal amount equal to the cash payment requested to be released to
the Company.

Section 12.3 Redemption of Securities for Sinking Fund.

Not less than 75 days prior to each sinking fund payment date for any series of Securities, the
Company shall deliver to the Trustee an Officers’ Certificate specifying the amount of the next,
ensuing mandatory sinking fund payment for that series pursuant to the terms of that series, the
portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if
any, which is to be satisfied by delivering and crediting of Securities of that series pursuant to
Section 12.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory
sinking fund payment, and will also deliver to the Trustee any Securities to be so credited and not
theretofore delivered. If such Officers’ Certificate shall specify an optional amount to be added
in cash to the next ensuing mandatory sinking fund payment, the Company shall thereupon be
obligated to pay the amount therein specified. Not less than 60 days before each such sinking fund
payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment
date in the manner specified in Section 11.3 and cause notice of the redemption thereof to be given
in the name of and at the expense of the Company in the manner provided in Section 11.4. Such
notice having been duly given, the redemption of such Securities shall be made upon the terms and
in the manner stated in Sections 11.6 and 11.7.

ARTICLE 13 — REPAYMENT AT THE OPTION OF HOLDERS

Section 13.1 Applicability of Article.

Securities of any series which are repayable at the option of the Holders thereof before their
Stated Maturity shall be repaid in accordance with the terms of the Securities of such series. The
repayment of any principal amount of Securities pursuant to such option of the Holder to require
repayment of Securities before their Stated Maturity, for purposes of Section 3.9, shall not
operate as a payment, redemption or satisfaction of the Indebtedness represented by such Securities
unless and until the Company, at its option, shall deliver or surrender the same to the Trustee
with a directive that such Securities be cancelled. Notwithstanding anything to the contrary
contained in this Section 13.1, in connection with any repayment of Securities, the Company may
arrange for the purchase of any Securities by an agreement with one or more investment bankers or
other purchasers to purchase such Securities by paying to the Holders of such Securities on or
before the close of business on the repayment date an amount not less than the repayment price
payable by the Company on repayment of such Securities, and the obligation of the Company to pay
the repayment price of such Securities shall be satisfied and discharged to the extent such payment
is so paid by such purchasers.

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ARTICLE 14 — SECURITIES IN FOREIGN CURRENCIES

Section 14.1 Applicability of Article.

Whenever this Indenture provides for (1) any action by, or the determination of any of the rights
of, Holders of Securities of any series in which not all of such Securities are denominated in the
same Currency, or (ii) any distribution to Holders of Securities, in the absence of any provision
to the contrary in the form of Security of any particular series or pursuant to this Indenture or
the Securities, any amount in respect of any Security denominated in a Currency other than Dollars
shall be treated for any such action or distribution as that amount of Dollars that could be
obtained for such amount on such reasonable basis of exchange and as of the record date with
respect to Registered Securities of such series (if any) for such action, determination of rights
or distribution (or, if there shall be no applicable record date, such other date reasonably
proximate to the date of such action, determination of rights or distribution) as the Company may
specify in a written notice to the Trustee.

ARTICLE 15 — MEETINGS OF HOLDERS OF SECURITIES

Section 15.1 Purposes for Which Meetings May Be Called.

A meeting of Holders of Securities of any series may be called at any time and from time to time
pursuant to this Article, to make, give or take any request, demand, authorization, direction,
notice, consent, waiver or other Act provided by this Indenture or under applicable law, to be
made, given or taken by Holders of Securities of such series.

Section 15.2 Call, Notice and Place of Meetings.

     (1) The Trustee may at any time call a meeting of Holders of Securities of any series for any
purpose specified in Section 15.1, to be held at such time and at such place in the Borough of
Manhattan, The City of New York, or, if Securities of such series have been issued in whole or in
part as Bearer Securities, in London or in such place outside the United States as the Trustee
shall determine. Notice of every meeting of Holders of Securities of any series, setting forth the
time and the place of such meeting and in general terms the action proposed to be taken at such
meeting, shall be given, in the manner provided in Section 1.6, not less than 21 nor more than 180
days prior to the date fixed for the meeting.

     (2) In case at any time the Company (by or pursuant to a Board Resolution) or the Holders of
at least 10% in principal amount of the Outstanding Securities of any series or all series shall
have requested the Trustee to call a meeting of the Holders of Securities of such series or all
series, respectively, for any purpose specified in Section 15.1, by written request setting forth
in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have
mailed notice of or made the first publication of the notice of such meeting within 21 days after
receipt of such request (whichever shall be required pursuant to Section 1.6) or shall not
thereafter proceed to cause the meeting to be held as provided herein, then the Company or the
Holders of Securities of such series in the amount above specified, as the case may be, may
determine the time and the place in the Borough of Manhattan, The City of New York, or, if
Securities of such series are to be issued as Bearer Securities, in London for such

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meeting and may call such meeting for such purposes by giving notice thereof as provided in
clause (1) of this Section.

Section 15.3 Persons Entitled to Vote at Meetings.

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

Section 15.4 Quorum; Action.

The Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities
of the relevant series shall constitute a quorum for any meeting of Holders of Securities of such
series. In the absence of a quorum within 30 minutes after the time appointed for any such
meeting, the meeting shall, if convened at the request of Holders of Securities of such series, be
dissolved. In any other case the meeting may be adjourned for a period of not less than 10 days as
determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence
of a quorum at any reconvened meeting, such reconvened meeting may be further adjourned for a
period of not less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such reconvened meeting. Notice of the reconvening of any adjourned meeting shall
be given as provided in Section 15.2(1), except that such notice need be given only once not less
than five days prior to the date on which the meeting is scheduled to be reconvened. Notice of the
reconvening of an adjourned meeting shall state expressly the percentage, as provided above, of the
principal amount of the Outstanding Securities of such series which shall constitute a quorum.

Except as limited by the proviso to Section 9.2, 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 principal amount of the Outstanding Securities of
that series; provided, however, that, except as limited by the proviso to Section 9.2, any
resolution with respect to any request, demand, authorization, direction, notice, consent, waiver
or other Act which this Indenture expressly provides may be made, given or taken by the Holders of
a specified percentage, which is less than a majority, in principal amount of the Outstanding
Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at
which a quorum is present as aforesaid by the affirmative vote of the Holders of such specified
percentage in principal amount of the Outstanding Securities of such series.

Except as limited by the proviso to Section 9.2, any resolution passed or decision taken at any
meeting of Holders of Securities of any series duly held in accordance with this Section shall be
binding on all the Holders of Securities of such series and the Coupons appertaining thereto,
whether or not such Holders were present or represented at the meeting.

Section 15.5 Determination of Voting Rights; Conduct and Adjournment of Meetings.

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     (1) 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 of such
series in regard to proof of the holding of Securities of such series and of the appointment of
proxies and in regard to the appointment and duties of inspectors of votes, the submission and
examination of proxies, certificates and other evidence of the right to vote, and such other
matters concerning the conduct of the meeting as 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 1.4 and the appointment of any proxy shall be proved in the manner
specified in Section 1.4 or by having the signature of the person executing the proxy witnessed or
guaranteed by any trust company, bank or banker authorized by Section 1.4 to certify to the holding
of Bearer Securities. Such regulations may provide that written instruments appointing proxies,
regular on their face, may be presumed valid and genuine without the proof specified in Section 1.4
or other proof.

     (2) 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 of Securities as
provided in Section 15.2(2), in which case the Company or the Holders of Securities of the series
calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A
permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons
entitled to vote a majority in principal amount of the Outstanding Securities of such series
represented at the meeting.

     (3) At any meeting, each Holder of a Security of such series or proxy shall be entitled to one
vote for each $1,000 principal amount of Securities of such series held or represented by him or
such other amount established pursuant to Section 3.1; 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 of such series or proxy.

     (4) Any meeting of Holders of Securities of any series duly called pursuant to Section 15.2 at
which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority
in principal amount of the Outstanding Securities of such series represented at the meeting; and
the meeting may be held as so adjourned without further notice.

Section 15.6 Counting Votes and Recording Action of Meetings.

The vote upon any resolution submitted to any meeting of Holders of Securities of any series shall
be by written ballots on which shall be subscribed the signatures of the Holders of Securities of
such series or of their representatives by proxy and the principal amounts and serial numbers of
the Outstanding Securities of such series held or represented by them. The permanent chairman of
the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for
or against any resolution and who shall make and file with the secretary of the meeting their
verified written reports in triplicate of all votes cast at the meeting. A record, at least in
triplicate, of the proceedings of each meeting of Holders of Securities of any series shall be
prepared by the secretary of the meeting and there shall be attached to said record the original
reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by

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one or more persons having knowledge of the facts setting forth a copy of the notice of the
meeting and showing that said notice was given as provided in Section 15.2 and, if applicable,
Section 15.4. Each copy shall be signed and verified by the affidavits of the permanent chairman
and secretary of the meeting and one such copy shall be delivered to the Company, and another to
the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted
at the meeting. Any record so signed and verified shall be conclusive evidence of the matters
therein stated.

Section 15.7 Preservation of Rights of Trustee and Holders.

Nothing contained in this Article 15 shall be deemed or construed to authorize or permit, by reason
of any call of a meeting of Holders of any or all series or any rights expressly or impliedly
conferred hereunder to make such call, any hindrance or delay in the exercise of any right or
rights conferred upon or reserved to the Trustee or to the Holders of any or all series under any
of the provisions of this Indenture or of such series of Securities.

ARTICLE 16 — SUBORDINATION OF SECURITIES

Section 16.1 Agreement to Subordinate.

The Company, for itself, its successors and assigns, covenants and agrees, and each Holder of
Securities issued hereunder and under any indenture supplemental hereto or pursuant to a Board
Resolution and Officers’ Certificate (“Additional Provisions”) by such Holder’s acceptance thereof
likewise covenants and agrees, that all Securities issued pursuant to this Indenture shall be
subject to the provisions of this Article 16; and each Holder of a Security, whether upon original
issue or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions.

The payment by the Company of the principal of, and any premium and interest, if any, on, all
Securities of each series issued hereunder and under any Additional Provisions shall, to the extent
and in the manner hereinafter set forth, be subordinate in right of payment to the prior payment in
full of all Senior Indebtedness with respect to such series, whether outstanding at the date of
this Indenture or thereafter incurred.

The Indebtedness represented by the Securities (1) shall not be deemed to constitute “Senior
Indebtedness” and (2) shall constitute “Senior Subordinated Indebtedness.”

Section 16.2 Default on Senior Indebtedness.

In the event and during the continuation of any default by the Company in the payment of principal,
premium, interest or any other amount due on any Senior Indebtedness with respect to the Securities
of any series, or in the event that the maturity of any Senior Indebtedness with respect to the
Securities of any series has been accelerated because of a default, then, in either case, no
payment shall be made by the Company with respect to the principal (including redemption and
sinking fund payments) of, or any premium or interest on, the Securities of such series.

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In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee when
such payment is prohibited by the preceding paragraph of this Section 16.2, such payment shall be
held in trust for the benefit of, and shall be paid over or delivered to, the holders of such
Senior Indebtedness or their respective representatives, or to the trustee or trustees under any
indenture pursuant to which any of such Senior Indebtedness may have been issued, as their
respective interests may appear, but only to the extent that the holders of such Senior
Indebtedness (or their representative or representatives or a trustee) notify the Trustee in
writing within 90 days of such payment of the amounts then due and owing on such Senior
Indebtedness and only the amounts specified in such notice to the Trustee shall be paid to the
holders of such Senior Indebtedness.

Section 16.3 Liquidation; Dissolution; Bankruptcy.

Upon any payment by the Company or distribution of assets of the Company of any kind or character,
whether in cash, property or securities, to creditors upon any dissolution, winding-up, liquidation
or reorganization of the Company, whether voluntary or involuntary, or in bankruptcy, insolvency,
receivership or other proceedings, all amounts due upon all Senior Indebtedness with respect to the
Securities of any series shall first be paid in full, or payment thereof provided for in money in
accordance with its terms, before any payment is made by the Company on account of the principal
of, and premium or interest, if any, on, the Securities of such series; and upon any such
dissolution, winding-up, liquidation or reorganization, or in any such bankruptcy, insolvency,
receivership or other proceeding, any payment by the Company, or distribution of assets of the
Company of any kind or character, whether in cash, property or securities, which the Holders or the
Trustee would be entitled to receive from the Company, except for the provisions of this Article
16, shall be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee,
agent or other Person making such payment or distribution, or by the Holders or by the Trustee
under this Indenture if received by them or it, directly to the holders of such Senior Indebtedness
(pro rata to such holders on the basis of the respective amounts of such Senior Indebtedness held
by such holders, as calculated by the Company) or their representative or representatives, or to
the trustee or trustees under any indenture pursuant to which any instruments evidencing such
Senior Indebtedness may have been issued, as their respective interests may appear, to the extent
necessary to pay such Senior Indebtedness in full, in money or money’s worth, after giving effect
to any concurrent payment or distribution to or for the holders of such Senior Indebtedness, before
any payment or distribution is made to the Holders of the Securities of such series or to the
Trustee.

In the event that, notwithstanding the foregoing, any payment or distribution of assets of the
Company of any kind or character, whether in cash, property or securities, prohibited by the
foregoing shall be received by the Trustee before all such Senior Indebtedness is paid in full, or
provision is made for such payment in money in accordance with its terms, such payment or
distribution shall be held in trust for the benefit of and shall be paid over or delivered to the
holders of such Senior Indebtedness or their representative or representatives, or to the trustee
or trustees under any indenture pursuant to which any instruments evidencing such Senior
Indebtedness may have been issued, as their respective interests may appear, as calculated by the
Company, for application to the payment of all such Senior Indebtedness remaining unpaid to the
extent necessary to pay such Senior Indebtedness in full in money in accordance with its terms,

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after giving effect to any concurrent payment or distribution to or for the benefit of the holders
of such Senior Indebtedness.

For purposes of this Article 16, 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 corporation provided for by a plan of reorganization or readjustment, the payment of
which is subordinated at least to the extent provided in this Article 16 with respect to the
Securities of the relevant series to the payment of all Senior Indebtedness with respect to the
Securities of such series that may at the time be outstanding, provided that (i) such Senior
Indebtedness is assumed by the new corporation, if any, resulting from any such reorganization or
readjustment, and (ii) the rights of the holders of such Senior Indebtedness are not, without the
consent of such holders, altered by such reorganization or readjustment. 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, transfer or lease of its property as an entirety, or
substantially as an entirety, to another Person upon the terms and conditions provided for in
Sections 8.1 and 8.2 of this Indenture shall not be deemed a dissolution, winding-up, liquidation
or reorganization for the purposes of this Section 16.3 if such other Person shall, as a part of
such consolidation, merger, conveyance or transfer, comply with the conditions stated in Sections
8.1 and 8.2 of this Indenture. Nothing in Section 16.2 or in this Section 16.3 shall apply to
claims of, or payments to, the Trustee under or pursuant to Section 6.6 of this Indenture.

Section 16.4 Subrogation.

Subject to the payment in full of all Senior Indebtedness with respect to the Securities of any
series, the rights of the Holders of the Securities of such series shall be subrogated to the
rights of the holders of such Senior Indebtedness to receive payments or distributions of cash,
property or securities of the Company applicable to such Senior Indebtedness until the principal
of, and any premium and interest, if any, on, the Securities of such series shall be paid in full;
and, for the purposes of such subrogation, no payments or distributions to the holders of such
Senior Indebtedness of any cash, property or securities to which the Holders or the Trustee would
be entitled except for the provisions of this Article 16, and no payment over pursuant to the
provisions of this Article 16 to or for the benefit of the holders of such Senior Indebtedness by
Holders of the Securities of such series or the Trustee, shall, as between the Company, its
creditors other than holders of such Senior Indebtedness, and the Holders of the Securities of such
series, be deemed to be a payment by the Company to or on account of such Senior Indebtedness. It
is understood that the provisions of this Article 16 are and are intended solely for the purposes
of defining the relative rights of the Holders of the Securities of each series, on the one hand,
and the holders of the Senior Indebtedness with respect to the Securities of such series on the
other hand.

Nothing contained in this Article 16 or elsewhere in this Indenture, any Additional Provisions or
in the Securities of any series is intended to or shall impair, as between the Company, its
creditors other than the holders of Senior Indebtedness with respect to the Securities of such
series, and the Holders of the Securities of such series, the obligation of the Company, which is
absolute and unconditional, to pay to the Holders of the Securities of such series the principal
of, and any premium and interest, if any, on, the Securities of such series as and when the same
shall

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become due and payable in accordance with their terms, or is intended to or shall affect the
relative rights of the Holders of the Securities of such series and creditors of the Company, other
than the holders of such Senior Indebtedness, nor shall anything herein or therein prevent the
Trustee or the Holder of any Security of such series from exercising all remedies otherwise
permitted by applicable law upon default under this Indenture, subject to the rights, if any, under
this Article 16 of the holders of such Senior Indebtedness in respect of cash, property or
securities of the Company, as the case may be, received upon the exercise of any such remedy.

Upon any payment or distribution of assets of the Company referred to in this Article 16, the
Trustee, subject to the provisions of Article 6 of this Indenture, and the Holders shall be
entitled to conclusively rely upon any order or decree made by any court of competent jurisdiction
in which such dissolution, winding-up, liquidation or reorganization proceedings are pending, or a
certificate of the receiver, trustee in bankruptcy, liquidation trustee, agent or other Person
making such payment or distribution, delivered to the Trustee or to the Holders of the Securities
of any series, for the purposes of ascertaining the Persons entitled to participate in such
distribution, the holders of Senior Indebtedness with respect to the Securities of such series and
other indebtedness of the Company, as the case may be, the amount thereof or payable thereon, the
amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this
Article 16.

Section 16.5 Trustee to Effectuate Subordination.

Each Holder of Securities by such Holder’s acceptance thereof authorizes and directs the Trustee on
such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the
subordination provided in this Article 16 and appoints the Trustee such Holder’s attorney-in-fact
for any and all such purposes.

Section 16.6 Notice by the Company.

The Company shall give prompt written notice to a Responsible Officer of the Trustee of any fact
known to the Company that would prohibit the making of any payment of monies to or by the Trustee
in respect of the Securities of any series pursuant to the provisions of this Article 16.
Notwithstanding the provisions of this Article 16 or any other provision of this Indenture or any
Additional Provisions, the Trustee shall not be charged with knowledge of the existence of any
facts that would prohibit the making of any payment of monies to or by the Trustee in respect of
the Securities of any series pursuant to the provisions of this Article 16, unless and until a
Responsible Officer of the Trustee shall have received written notice thereof from the Company or a
holder or holders of Senior Indebtedness with respect to the Securities of such series or from any
trustee therefor; and before the receipt of any such written notice, the Trustee, subject to the
provisions of Article 6 of this Indenture, shall be entitled in all respects to assume that no such
facts exist; provided, however, that if the Trustee shall not have received the notice provided for
in this Section 16.6 at least two Business Days prior to the date upon which by the terms hereof
any money may become payable for any purpose (including, without limitation, the payment of the
principal of, any premium or interest on, any Security of such series), then, anything herein
contained to the contrary notwithstanding, the Trustee shall have full power and authority to
receive such money and to apply the same to the purposes for which they were received, and

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shall not be affected by any notice to the contrary that may be received by it within two Business
Days prior to such date.

The Trustee, subject to the provisions of Article 6 of this Indenture, shall be entitled to
conclusively rely on the delivery to it of a written notice by a Person representing himself to be
a holder of Senior Indebtedness with respect to the Securities of any series (or a trustee on
behalf of such holder), to establish that such notice has been given by a holder of such Senior
Indebtedness or a trustee on behalf of any such holder or holders. 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 such Senior Indebtedness to participate in any payment or distribution pursuant to
this Article 16, the Trustee may request such Person to furnish evidence to the reasonable
satisfaction of the Trustee as to the amount of such 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 rights of such Person under this Article 16, 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.

Upon any payment or distribution of assets of the Company referred to in this Article 16, the
Trustee and the Holders shall be entitled to rely upon any order or decree entered by any court of
competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation,
reorganization, dissolution, winding-up or similar case or proceeding is pending, or a certificate
of the trustee in bankruptcy, liquidating trustee, custodian, receiver, assignee for the benefit of
creditors, agent or other Person making such payment or distribution, delivered to the Trustee or
to the Holders of the Securities of any series, for the purpose of ascertaining the Persons
entitled to participate in such payment or distribution, the holders of Senior Indebtedness with
respect to the Securities of such series 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 16.

Section 16.7 Rights of the Trustee; Holders of Senior Indebtedness.

The Trustee in its individual capacity shall be entitled to all the rights set forth in this
Article 16 in respect of any Senior Indebtedness with respect to the Securities of any series at
any time held by it, to the same extent as any other holder of such Senior Indebtedness, and
nothing in this Indenture or any Additional Provisions shall deprive the Trustee of any of its
rights as such holder.

With respect to the holders of Senior Indebtedness with respect to the Securities of any series,
the Trustee undertakes to perform or to observe only such of its covenants and obligations as are
specifically set forth in this Article 16, and no implied covenants or obligations with respect to
the holders of such Senior Indebtedness shall be read into this Indenture or any Additional
Provisions against the Trustee. By virtue of this Article 16, the Trustee shall not be deemed to
owe any fiduciary duty to the holders of such Senior Indebtedness and, subject to the provisions of
Article 6 of this Indenture, the Trustee shall not be liable to any holder of such Senior
Indebtedness if it shall pay over or deliver to Holders of the Securities of such series, the

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Company or any other Person money or assets to which any holder of such Senior Indebtedness shall
be entitled.

Nothing in this Article 16 shall apply to claims of, or payments to, the Trustee under or pursuant
to Section 6.6.

Section 16.8 Subordination May Not Be Impaired.

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

Without in any way limiting the generality of the foregoing paragraph, the holders of Senior
Indebtedness with respect to the Securities of any series may, at any time and from time to time,
without the consent of or notice to the Trustee or the Holders of Securities of such series,
without incurring responsibility to such Holders and without impairing or releasing the
subordination provided in this Article 16 or the obligations hereunder of the Holders of the
Securities of such series to the holders of such Senior Indebtedness, do any one or more of the
following: (i) change the manner, place or terms of payment or extend the time of payment of, or
renew or alter, such Senior Indebtedness, or otherwise amend or supplement in any manner such
Senior Indebtedness or any instrument evidencing the same or any agreement under which such Senior
Indebtedness is outstanding; (ii) sell, exchange, release or otherwise deal with any property
pledged, mortgaged or otherwise securing such Senior Indebtedness; (iii) release any Person liable
in any manner for the collection of such Senior Indebtedness; and (iv) exercise or refrain from
exercising any rights against the Company and any other Person.

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

	 	 	 	 	 
	 	FEDERAL SIGNAL CORPORATION

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

81

 

	 	 	 	 	 

	 	 	 	 	 
	 	[            ], as Trustee

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

82exv4w16

	 	 	 
	 

	 	Marine Finance
	 

	 	Second Floor
	 

	 	New Uberior House
	NewLead Holdings Limited

	 	11 Earl Grey Street
	c/o 83 Akti Miaouli & Flessa St,

	 	EDINBURGH
	Piraeus 185 38

	 	EH3 9BN

	Greece
	 	 
	 
	 	 
	Fax
No:      +30 213 014 8279

Attention:    Michael Zolotas
                    Nicholas Fistes

                    Michael Livanos

                    Peter Kallifidas

	 	Telephone: 0131 659 1301

Fax: 0131 659 1300

E-mail: alasdair_weir@bankofscotland.co.uk

19 February 2010

Dear Sirs

Commitment Letter

We are pleased to confirm the Senior Lenders’ commitment to provide a US$66,666,667 Senior Term
Loan Facility (the “Senior Facility”) and the Junior Lenders’ commitment to provide a
US$13,333,334 Junior Term Loan Facility (the “Junior Facility”) (together the “Facilities”) to
Ayasha Trading Ltd. and Bethune Properties S.A. (the “Borrowers”), secured by a Corporate
Guarantee provided by NewLead Holdings Ltd. (the “Corporate Guarantor”), as outlined in the
attached Summary Terms & Conditions.

The provision of the Facilities, and any obligation of the Senior Lenders and the Junior Lenders
(together the “Lenders”) in connection with the Facilities, are subject to the conclusion of
documentation satisfactory to the Lenders and their counsel. As stated in the Summary Terms &
Conditions the transaction documents may contain certain additional terms, conditions, conditions
precedent, warranties, covenants, events of default and definitions or other provisions of a
substantive nature that are in addition to the terms specifically set forth in the Summary Terms &
Conditions, all of which must be satisfactory to the Lenders and their counsel, as well as to the
Borrowers and their counsel and the Corporate Guarantor and its counsel. In addition, the
commitment is subject to the condition that no material adverse change in business, condition
(financial or otherwise), property, results of operations or prospects of the Borrowers, or the
Corporate Guarantor or its subsidiaries or affiliates, or in any applicable laws, regulations or
policies affecting us or you, occurs prior to closing. The commitment is further subject to
satisfactory ‘Know Your Customer’ and similar reviews and documentation checks by the Lenders in
accordance with their anti-money laundering policies and procedures.

This Commitment Letter is open for acceptance by the Corporate Guarantor until close of business on
26 February 2010. Please have an authorized signatory of the Corporate Guarantor execute a copy of
this letter and initial each page of the Summary Terms & Conditions to confirm acceptance of the
relevant terms, and return by facsimile or e-mail to the contact details provided above.

If, for whatever reason, the parties have been unable to agree to and enter into definitive
documentation prior to 31 March 2010, then this Commitment Letter shall be deemed to have expired
unless extended in writing by the Lenders with any such extension to be granted or withheld in the
sole and absolute discretion of the Lenders.

Part of Lloyds Banking Group.

Bank of Scotland plc.

Registered in Scotland number SC327000.

Registered Office: The Mound, Edinburgh EH1 1YZ.

Authorised and regulated by the Financial Services Authority.

www.bankofscotland.co.uk/corporate

 

 

This letter shall be governed by and construed in accordance with the laws of England
without regard to principles of conflict of laws.

We are delighted to be working with you on this transaction, and look forward to the successful
negotiation and conclusion of the appropriate documentation over the coming weeks.

	 	 	 
	 
	 	 
	
 

	 	 

AGREED
AND ACCEPTED THIS  23 DAY OF February 2010.

FOR: NewLead Holdings Ltd.

	 	 	 	 	 
	BY:
	 	Michael Zolotas	 	
	 

	 	 

	 	 
	 
	 	 	 	 
	TITLE:
	 	Chief Executive Officer	 	 
	 

	 	 

	 	 

Part of Lloyds Banking Group.

Bank of Scotland plc.

Registered in Scotland number SC327000.

Registered Office: The Mound, Edinburgh EH1 1YZ.

Authorised and regulated by the Financial Services Authority.

www.bankofscotland.co.uk/corporate

 

 

			
	 	 	 
	
	 	

TWO SINGLE PURPOSE VESSEL OWNING COMPANIES

TO FINANCE TWO

NEWBUILD 80,000 DWT KAMSARMAX BULK CARRIERS

Summary Terms & Conditions

For Facilities Totalling

US$80,000,000

The Senior Lenders and Junior Lenders are pleased to confirm that they are prepared to offer
the Facilities (as defined below) on the following terms. The provision of the Facilities is
subject to the principal terms set out below and to documentation in form satisfactory to all
parties. These Summary Terms & Conditions are for your confidential use only and should not be
disclosed to any third party (unless required to do so by law); it does not give rise to any
liability on the part of Bank of Scotland plc, BTMU Capital Corporation or Bank of Ireland, or any
member of their groups, and should be construed in accordance with
English law.

BANK OF SCOTLAND, MARINE FINANCE

New Uberior House

1 Earl Grey Street

EDINBURGH

EH3 9BN

Tel: 020-7158-2748

Fax: 020-7158-3273

Page 1 of 12

 

SECURED SENIOR AND JUNIOR TERM LOAN FACILITIES

PARTIES

	 	 	 
	BORROWERS

	 	Ayasha Trading Ltd and Bethune Properties SA. The vessel-owning companies
are to be wholly-owned by NewLead Holdings Ltd. (the “Corporate Guarantor”), and
will be liable for the debt as Borrowers on a joint and several basis.
	 
	 	 
	CORPORATE GUARANTOR

	 	NewLead Holdings Ltd. (formerly known as Aries Maritime Transport Ltd.)
	 
	 	 
	AGENT/SECURITY TRUSTEE

	 	Bank of Scotland plc (the
“Agent”).

	 	 	 	 	 	 	 	 	 
	SENIOR LENDERS	 	Bank of Scotland
	 	US$	25,470,000	 
	 
	 	 	 	 	BTMU Capital
Corporation or an affiliate
	 	US$	25,470,000	 
	 
	 	 	 	 	Bank of Ireland
	 	US$	15,726,667	 
	 	 	 	 	Total Senior Term Loan Facility
	 	US$	66,666,667	 
	 	 	 	 	 
	 	 	 	 
	JUNIOR LENDERS	 	Bank of Scotland
	 	US$	6,666,667	 
	 
	 	 	 	 	BTMU Capital Corporation or an affiliate
	 	US$	6,666,667	 
	 
	 	 	 	 	Total Junior Term Loan Facility
	 	US$	13,333,334	 

	 	 	 
	SWAP BANK

	 	Bank of Scotland plc
	 
	 	 
	MAJORITY LENDERS

	 	In respect of each of the Senior and
Junior Term Loan Facility, Senior or Junior
Lenders (as applicable) whose aggregate
commitments under the Senior or Junior Term
Loan Facility represent an amount greater than
66.66% (it being understood that certain
customary issues will require the approval of
all the Senior or Junior Lenders). An
Intercreditor Agreement, acceptable to all
Lenders, will govern the relationship between
the Senior and Junior Lenders.
	 
	 	 
	SHIP MANAGER

	 	To be acceptable to Lenders.
	 
	 	 
	LENDERS’ LEGAL COUNSEL

	 	To be confirmed.
	 
	 	 
	INSURANCE CONSULTANT

	 	BankServe Insurance Services Ltd.
	 
	 	 
	VESSEL
PARTICULARS
	 	 
	 
	 	 
	SECURITY VESSELS

	 	Two newbuild Kamsarmax (80,000 dwt)
bulk carriers (each a “Security Vessel” and,
collectively, the “Security Vessels”) from
COSCO Dalian Shipyard Co. Ltd. (the
“Shipyard”), having Hull Nos. N213 and
N216.
	 
	 	 
	CONTRACT PRICE

	 	US$50,000,000 per Security Vessel.
	 
	 	 
	 

	 	Payment Terms:           30%/20%/20%/20%/10%
	 
	 	 
	DELIVERY DATE

	 	Hull No. N213 to be delivered in
October 2010 (the “Initial Delivery Date”) and
Hull No. N216 to be delivered in December 2011
(the “Final Delivery Date”).
	 
	 	 
	FLAG

	 	The Security Vessels to be entered
under the Liberian Registry, or any other flag
state subject to the prior written consent of
the Majority Lenders.
	 
	 	 
	CLASSIFICATION SOCIETY

	 	Det Norske Veritas (“DNV”), or other
IACS Member acceptable to the Lenders (the
Security Vessels to be classed with the
highest classification for Security Vessels of
this type).

Page 2 of 12

 

	 	 	 
	FACILITY
	 	 
	 
	 	 
	TYPE OF FACILITY

	 	Pre and post-delivery Secured Senior Term Loan Facility (the “Senior
Term Loan Facility”), and pre and post-delivery Secured Junior Term Loan
Facility (the “Junior Term Loan Facility”) (together, the
“Facilities”).
Additionally, to provide Payment Guarantees in respect of certain
pre-delivery instalments due to be paid by the Borrowers.
	 
	 	 
	PURPOSE

	 	To part finance the Contract Price of each Security Vessel.
	 
	 	 
	FACILITY AMOUNT

	 	Senior Term Loan Facility
	 
	 	 
	 

	 	The lower of US$33,333,333 or 83.33% of Fair Market Value on a
charter-free basis (“FMV”) of each Security Vessel upon delivery, up to a
maximum aggregate total of US$66,666,667 (“Senior Facility
Amount”).
	 
	 	 
	 

	 	Payment Guarantee
	 
	 	 
	 

	 	Amount equal to the outstanding pre-delivery yard payments (i.e.
aggregate of the 2nd and 3rd instalments on a
reducing basis) due to be funded by the Senior Term Loan Facility in
respect of each Security Vessel. Such amount, including any drawn
amounts under the Junior Term Loan Facility, not to exceed US$40,000,000
in total.
	 
	 	 
	 

	 	Junior Term Loan Facility
	 
	 	 
	 

	 	An aggregate facility of US$13,333,334 (US$6,666,667 per Security
Vessel), which has already been fully drawn (“Junior Facility
Amount”).
	 
	 	 
	 

	 	On an aggregated basis, the Senior Facility Amount and Junior
Facility Amount shall, on the relevant Delivery Date, not exceed 100% of
the FMV of each Security Vessel.
	 
	 	 
	AVAILABILITY

	 	Senior and Junior Term Loan Facility
	 
	 	 
	 

	 	Pre-Delivery: The first yard instalment for each Security Vessel
(30% of Contract Price) will be deemed to have been funded by Borrowers’
Equity of US$2,500,000, drawings under the Junior Term Loan Facility of
US$6,666,667 and drawings under the Senior Term Loan Facility of
US$5,833,333. The second yard instalment (20% of Contract Price) will be
funded by Borrowers’ Equity of US$2,500,000 and drawings under the Senior
Term Loan Facility of US$7,500,000. The remaining yard instalments up to,
but excluding, the delivery instalment (40% of Contract Price in
aggregate) to be funded by drawings under the Senior Term Loan Facility,
except that the launching instalment of each Security Vessel (20% of Contract Price)
will be funded by Borrowers’ Equity of US$5,000,000 (which shall either i)
be provided in the form of an unconditional and irrevocable letter of
credit or guarantee, issued by a first-class bank acceptable to the
Lenders, or ii) as a cash deposit to be placed in an account maintained
with, and pledged to, the Agent & Security Trustee and held from Closing
Date until the relevant dates on which payment of the launching
instalments shall be made) and drawings under the Senior Term Loan
Facility of US$5,000,000.
	 
	 	 
	 

	 	Delivery: Subject to the calculation of the Senior Facility Amount,
the delivery instalment will be funded by drawings under the Senior Term
Loan Facility.
	 
	 	 
	 

	 	Subject to applicable Conditions Precedent, each of the Senior Term
Loan Facility and Junior Term Loan Facility will be available for drawing
until 15th August 2011 (in respect of Hull No. N213) and
26th October 2012 (in respect of Hull No. N216) (each an
“Availability Expiry Date”).

Page 3 of 12

 

	 	 	 
	 

	 	Payment Guarantee
	 
	 	 
	 

	 	Until full payment of the 2nd
and 3rd instalments due under the
shipbuilding contracts have been made.
	 
	 	 
	 

	 	The total combined Senior Term Loan
Facility, Junior Term Loan Facility and Payment
Guarantee drawings may not exceed the amount of
the Refund Guarantee(s) at any time.
	 
	 	 
	MATURITY DATE

	 	Senior and Junior Term Loan Facility
	 
	 	 
	 

	 	Five years from the Delivery Date of each
Security Vessel, but in any event no later than
26th October 2017 (the “Final
Maturity Date”).
	 
	 	 
	REPAYMENT

	 	Senior Term Loan Facility
	 
	 	 
	 

	 	The Senior Term Loan Facility will, in
respect of each of the Security Vessels, be
repaid (in line with a 11-year straight line
full pay-out profile) by 20 consecutive
quarterly repayment instalments of US$757,576
(each a “Senior Repayment”), commencing three
months after the respective Delivery Date.
	 
	 	 
	 

	 	A balloon equivalent to the remaining
outstanding balance of the Senior Term Loan
Facility, but in any event no greater than
US$18,181,813 shall be payable, in respect of
each Security Vessel, concurrently with the
final Senior Repayment.
	 
	 	 
	 

	 	Junior Term Loan Facility
	 
	 	 
	 

	 	The Junior Term Loan Facility will, in
respect of each Security Vessel, be repaid (in
line with a 25-year straight line full pay-out
profile) by 20 consecutive quarterly repayment
instalments of US$66,667 (each a “Junior
Repayment”), commencing 3 months after the
respective Delivery Date.
	 
	 	 
	 

	 	A balloon payment equivalent to the
remaining outstanding balance of the Junior Term
Loan Facility, but in any event no greater than
US$5,333,327, shall be payable, in respect of
each Security Vessel, concurrently with the
final Junior Repayment.
	 
	 	 
	 

	 	If, for any reason, the amount drawn
down under the Senior and/or Junior Term Loan
Facility is less than Senior Facility Amount
and/or Junior Facility Amount, the amount of the
relevant future scheduled Senior and/or Junior
Repayments shall be reduced on a pro rata basis
together with the relevant balloon
payment(s).
	 
	 	 
	PREPAYMENT

	 	Voluntary Prepayment
	 
	 	 
	 

	 	The Borrowers may prepay all or part of
the indebtedness under the Facilities, by giving
5 days’ prior written notice to the Agent, on
interest renewal dates in minimum amounts of
US$1,000,000 (US$500,000 in the case of the
Junior Term Loan Facility) or multiples thereof.
Amounts prepaid may not be redrawn, and will be
applied against the repayment schedule in
inverse order of maturity.
	 
	 	 
	 

	 	The following post-delivery prepayment
premiums shall be paid by the relevant
Borrower(s), though only in the case of full
refinancing (other than a refinancing involving
all of the Lenders):
	 
	 	 
	 

	 	Up to first anniversary of Final Delivery
Date:        1% 
No termination of the Facility shall
be made prior to delivery of the Security
Vessels.
	 
	 	 
	 

	 	For the avoidance of doubt, no prepayment
premium shall be payable by the Borrower(s) in
the event of the sale of one or both of the
Security Vessels.

Page 4 of 12

 

	 	 	 
	 

	 	Mandatory Prepayment
	 
	 	 
	 

	 	The Borrowers shall prepay the Facilities upon sale or total loss of either or both of the
Security Vessels by at least an amount equal to the outstanding Senior Term Loan Facility and Junior
Term Loan Facility tranches attributable to that Security Vessel, including any accrued interest.
	 
	 	 
	 

	 	All Mandatory Prepayments will be made together with accrued interest and any associated breakage
costs (which shall be for the account of the relevant Borrower(s)), and will reduce future scheduled
Senior and Junior Repayments on a pro-rata basis together with the relevant balloon payment(s).
	 
	 	 
	GENERAL FACILITY
TERMS

	 	 
	CLOSING DATE

	 	The date upon which definitive legal documentation evidencing the Facilities shall be duly
executed, but no later than 31st March 2010.
	 
	 	 
	INTEREST RATE/PERIODS

	 	Subject to the provisions set out in “Hedging” below, drawings under the Facilities will be
maintained as Eurodollar loans, which will bear interest at the LIBOR Rate for the respective Interest
Period plus the Applicable Margin plus Mandatory Cost (as applicable). Each Interest Period shall, at
the Borrowers’ option, be for three or six months, or such other Interest Period as the
Agent may agree, provided that the maximum period between payments of Interest shall be 3 months.
	 
	 	 
	HEDGING

	 	Existing hedging instruments, as applicable respectively to the Senior and Junior Term Loan
Facility, to be rolled into new Facility. Provisions of existing Senior Facility Interest Rate Hedging
Strategy Letter, and Junior Facility Interest Rate Hedging Strategy Letter, both dated 13th
December 2007, to remain in place.
	 
	 	 
	APPLICABLE MARGIN

	 	Prior to the Initial Delivery Date (in respect of Hull N213), and the Final Delivery Date (in
respect of Hull N216), the Applicable Margin shall, in respect of the Senior Term Loan, be 350bps per
annum and, in respect of the Junior Term Loan, 550bps per annum.
	 
	 	 
	 

	 	The Applicable Margin, following the delivery of each Security Vessel, shall be referable to the
security coverage, calculated by means of the Security Maintenance Test, and as evidenced in the
latest Compliance Certificate, and applied from the next Interest Period after production of the
Compliance Certificate:

	 	 	 	 	 
	Security Coverage
	 	Senior Term Loan
	 	Junior Term Loan
	<115%
	 	340bps per annum
	 	520bps per annum
	115%-129.9%
	 	320bps per annum
	 	490bps per annum
	>=130%
	 	275bps per annum
	 	450bps per annum

	 	 	 
	AGENCY FEE

	 	US$10,000 per annum, payable in advance on the Closing Date, and on the anniversary of
the Closing Date thereafter until Final Maturity Date.
	 
	 	 
	GUARANTEE FEE

	 	Applicable Margin on all Payment Guarantees issued, payable quarterly in advance.
	 
	 	 
	COMMITMENT FEE

	 	50% of the Applicable Margin payable quarterly in arrears on undrawn commitments under the Senior
Term Loan Facility and Junior Term Loan Facility from the Closing Date.

Page 5 of 12

 

	 	 	 
	ARRANGEMENT FEE

	 	0.85% of the aggregate of the Senior Facility Amount and Junior Facility Amount, payable as to
50% on the Closing Date, with the remaining 50% payable on the first anniversary of the Closing
Date.
	 
	 	 
	SECURITY

	 	The security package for the Senior Term Loan Facility shall be usual and customary for a
facility of this type, including but not limited to:

	 	 	 	 	 
	 	 	Pre-Delivery
	 
	 	 	 	 
	 

	 	•
	 	First priority assignment of the Refund Guarantees, both in a form and from counterparties
acceptable to the Agent, as security for the yard instalments to be made prior to delivery of the
Security Vessels;
	 
	 	 	 	 
	 

	 	•
	 	First priority assignment of any inter-company loan agreements to which the Borrowers are
a party;
	 
	 	 	 	 
	 

	 	•
	 	First priority assignment of the Shipbuilding Contracts for Hulls N213 & N216;
	 
	 	 	 	 
	 

	 	•
	 	First priority assignment of the Initial Vessel Charters (as hereinafter described);
	 
	 	 	 	 
	 

	 	•
	 	First priority assignment of any pre-delivery insurances taken by the Borrower(s), or
Corporate Guarantor;
	 
	 	 	 	 
	 

	 	•
	 	First priority pledge of the shares of the Borrowers; and,
	 
	 	 	 	 
	 

	 	•
	 	Unconditional and irrevocable on-demand guarantee from the Corporate
Guarantor.
	 
	 	 	 	 
	 	 	Post-Delivery
	 
	 	 	 	 
	 

	 	•
	 	First priority cross-collateralised mortgage over each Security Vessel;
	 
	 	 	 	 
	 

	 	•
	 	First priority assignment of all Security Vessels’ insurances and requisition
compensation;
	 
	 	 	 	 
	 

	 	•
	 	First priority assignment of all earnings of the Security Vessels and relevant charter
contracts, including specific assignment of the Initial Vessel Charters;
	 
	 	 	 	 
	 

	 	•
	 	First priority pledge over all relevant bank accounts of the Borrowers, which accounts
shall be established and maintained with, and pledged in favour of, the Agent & Security
Trustee;
	 
	 	 	 	 
	 

	 	•
	 	First priority pledges of the shares of the Borrowers;
	 
	 	 	 	 
	 

	 	•
	 	Ship Manager’s Undertaking; and,
	 
	 	 	 	 
	 

	 	•
	 	Unconditional and irrevocable on-demand guarantee from the Corporate
Guarantor.
	 
	 	 	 	 
	 	 	The Junior Lenders under the Junior Term Loan Facility shall benefit from a second priority
interest over the same security package both pre and post-delivery. Interest rate swaps (limited to
the amount and tenor of the Senior and Junior Term Loan Facilities) to be secured under first and
second priority mortgages, but ranked behind the Senior and Junior Term Loan Facilities,
respectively, in terms of priority.
	 
	 	 	 	 
	CPs TO CLOSING	 	Usual and customary for a facility of this type, including but not limited to:

Documentation and security to be finalised in form and substance acceptable to the Senior Lenders and
Junior Lenders;

Time charter to be confirmed, in respect of Hull No. N213, for a minimum period of five years from
delivery (plus two 1-year extension options) with Nippon Yusen Kabushiki Kaisha of Japan at a minimum
daily net charter rate of US$28,710 and, in respect of Hull No. N216, for a minimum period of six
years 10 months (plus 4 months extension option) from delivery with Gujarat NRE Coke Ltd. at a
minimum

Page 6 of 12

 

	 	 	 
	 

	 	daily net charter rate of US$27,300, in form and substance acceptable to the Agent (the
“Initial Vessel Charters”), provided that the Initial Vessel Charters shall have charter
laycan dates that expire at least one Business Day after the relevant Availability
Expiry Date;
	 
	 	 
	 

	 	Borrowers to open two earnings bank accounts (one per Borrower), and a retention
bank account, with the Agent, which shall be pledged in favour of the Agent &
Security Trustee;
	 
	 	 
	 

	 	Borrowers to have reached agreement with the Shipyard, in form and substance
satisfactory to the Lenders, regarding the resolution of the existing Bhatia payment
guarantees, issued in favour of the Shipyard in respect of the 4th and 5th instalments,
in respect of each Security Vessel, under the relevant shipbuilding contract(s);
	 
	 	 
	 

	 	Receipt of satisfactory legal opinions;
	 
	 	 
	 

	 	No material adverse change in the financial condition of the Borrowers or Corporate
Guarantor;
	 
	 	 
	 

	 	No outstanding litigation.
	 
	 	 
	 

	 	All “Know your Customer” documentation in relation to the Borrowers and
Corporate Guarantor to be provided in accordance with the Senior and Junior
Lenders’ anti-money laundering regulations, including receipt of documentation
evidencing an ownership structure over the Security Vessels that proves satisfactory
to the Senior and Junior Lenders;
	 
	 	 
	 

	 	Terms and conditions of the Junior Term Loan Facility to be acceptable to the Senior
Lenders, and a Co-ordination Agreement between the Senior and Junior Lenders to be
in all respects acceptable to the Senior Lenders;
	 
	 	 
	 

	 	All costs, fees and expenses (including, without limitation, legal fees and expenses)
payable to the Senior and Junior Lenders or payable in respect of the Facilities, shall
have been paid to the extent due; and,
	 
	 	 
	 

	 	All necessary relevant governmental and third party approvals and/or consents in
connection with the Facilities shall have been obtained and remain in effect, and all
waiting periods shall have expired without any action being taken by any competent
authority, which, in the judgement of the Senior and/or Junior Lenders, restrains,
prevents, or imposes materially adverse conditions upon the consummation of the
Facilities. Additionally, there shall not exist any judgement, order, injunction or other
restraint prohibiting or imposing materially adverse conditions upon the Facilities.
	 
	 	 
	CPs TO DELIVERY

	 	Usual and customary for a facility of this type, including but not limited to:
	 
	 

	 	Satisfactory Classification and Flag State records pertaining to the Security Vessels,
including a copy of the Ship Manager’s Document of Compliance and Safety
Management Certificate;
	 
	 	 
	 

	 	Certified copies of, inter alia, all Ship Management Agreements and any other
relevant Vessel Agreements, the terms of which to be acceptable to the Senior and
Junior Lenders in all respects;
	 
	 	 
	 

	 	Marine Insurances for the Security Vessels (including: (a) Hull & Machinery; (b)
Protection & Indemnity; (c) War Risks; and (d) MII and MAP) to be placed in
acceptable markets and be reviewed and deemed acceptable to the Senior and Junior
Lenders by the Insurance Consultant, at the Borrowers’ expense.
	 
	 	 
	 

	 	No maritime liens, possessory liens or other encumbrances to exist over the Security
Vessels.
	 
	 	 
	 

	 	Compliance with all present and future environmental regulations.

Page 7 of 12

 

ONGOING CONDITIONS

Information undertakings, positive covenants, negative covenants, representations and warranties,
events of default, agency provisions and other conditions as determined by the Agent, usual and
customary for a facility of this type, including but not limited to:

	 	 	 	 	 
	FINANCIAL 

COVENANTS	 	The Borrowers and Corporate Guarantor, from the Initial Delivery Date and the Closing
Date respectively, to issue a covenant compliance certificate quarterly with regard to their
respective covenant obligations, confirming compliance with the following financial and
other undertakings:
	 
	 	 	 	 
	 

	 	-
	 	Borrowers: The FMV of the Security Vessels, free of any charterparty, as determined on
the drawdown date relevant to each Security Vessel at delivery, and every six months
thereafter for the duration of the Facility (the “Security Maintenance Test”), to evidence
minimum security coverage (on an aggregated Senior and Junior Term Loan basis) as
follows:
	 
	 	 	 	 
	 

	 	 	 	     •      Up to and including the second anniversary of Final Delivery Date, 115%;
provided that any breach of this covenant during the aforementioned period shall
not constitute an Event of Default, but shall result in a) the immediate cessation of
distribution by the Borrowers of any dividends/loans/other forms of distribution
until the date falling six months after the date on which the FMV of the Security
Vessels again meets the Security Maintenance Test (except where such compliance
is restored, in full, through Facility prepayment, or the provision of additional
security (in form and substance acceptable to the Majority Lenders), and b) on a
quarterly basis, 100% of the net cash flow generated by the Security Vessels
(Income minus the sum of reasonably and properly incurred a) operating costs
(including dry dock provision), b) general & administrative expenses, c)
management fees, d) scheduled principal repayments, e) interest paid (including,
for the avoidance of doubt, any swap payments payable by the Borrowers
pursuant to the hedging instruments in effect pursuant to the documentation
specified in ‘Hedging’ above) shall be applied in Mandatory Prepayment of the
Facility in inverse order of maturity for so long as the breach subsists;

	 
	 	 	 	 
	 

	 	 	 	     •      thereafter, according to the following matrix:

	 	 	 	 	 
	Period following Final Delivery Date	 	Minimum Security Coverage
	From 2nd anniversary up to 3rd anniversary
	 	 	120	%
	 
	 	 	 	 
	From 3rd anniversary up to 4th anniversary
	 	 	125	%
	 
	 	 	 	 
	From 4th anniversary to Final Maturity Date
	 	 	130	%

	 	 	 	 	 
	 

	 	 	 	In the event of a breach of the Security Maintenance Test following the second
anniversary of the Final Delivery Date, the Borrowers will be obliged, in an amount
sufficient to remedy such breach, to either i) prepay the Senior Term Loan Facility, or ii)
provide additional security (in form and substance acceptable to the Agent), such security
to remain in place for a period of at least six months after the date on which the FMV of
the Security Vessels again meets the Security Maintenance Test.

FMV to be determined by the average of two desk-top valuations in relation to a Security
Vessel dated no earlier than 4 weeks prior to the date of such calculation, provided by
brokers appointed by the Agent (from a panel of brokers to be agreed).

Page 8 of 12

 

	 	 	 	 	 
	 

	 	-
	 	The Borrowers shall, on a consolidated basis, at all times maintain minimum liquidity with Agent &
Security Trustee of US$750,000 per Security Vessel (the “Minimum Liquidity Amount”), PROVIDED THAT:
	 
	 	 	 	 
	 

	 	 	 	     a)      Where the Security Maintenance Test, undertaken on the drawdown date relevant to each Security
Vessel at delivery, demonstrates a minimum security coverage of at least 115%, the relevant Borrower
shall only be required to establish minimum liquidity of US$250,000 per Security Vessel (on a
consolidated basis) in the Earnings Account(s) of the relevant Security Vessel(s) from such drawdown
date and, subject to continuing compliance with the minimum security coverage covenant, to retain
all surplus earnings payable to the Borrowers within such Earnings Account(s) until the Minimum
Liquidity Amount is reached.

	 
	 	 	 	 
	 

	 	 	 	     b)      If, as at the date falling nine (9) months after the delivery drawdown date applicable to any
Security Vessel (the “Minimum Liquidity Threshold Date”), the Minimum Liquidity Amount has not been
reached, the Borrowers shall be immediately obliged to deposit an amount, sufficient to comply with
the requirement for minimum liquidity of $750,000 per Security Vessel, into the Earnings Account(s)
of the Borrowers.

	 
	 	 	 	 
	 

	 	 	 	     c)      If, at any time during the Facility term, the minimum security coverage covenant is breached,
the Borrowers shall immediately be required to deposit an amount, sufficient to comply with the
requirement for minimum liquidity (on a consolidated basis) of $750,000 per Security Vessel, into
the Earnings Account(s) of the Borrowers.

	 
	 	 	 	 
	 

	 	-
	 	The Corporate Guarantor to maintain a minimum ratio of EBITDA to Total Debt Service Expense,
calculated on a trailing four-quarter basis, as follows:
	 
	 	 	 	 
	 

	 	 	 	     •      As from financial quarter ending 30th September 2012, 1.10:1.00; and,

	 
	 	 	 	 
	 

	 	 	 	     •      As from financial quarter ending 30th September 2013 onwards, 1.20:1.00.

	 
	 	 	 	 
	 

	 	-
	 	The Corporate Guarantor, on a consolidated basis, to maintain positive working capital at all
times, including the notional (mark-to-market) cost of derivatives.
	 
	 	 	 	 
	 

	 	-
	 	The Corporate Guarantor to maintain minimum liquidity equivalent to 5% of Total Indebtedness in
unrestricted cash throughout the term of the Facility, to be tested on a quarterly basis and to
include, for the purposes of calculation, the minimum liquidity held with Agent & Security Trustee
of US$750,000 per Security Vessel.
	 
	 	 	 	 
	 

	 	-
	 	The Corporate Guarantor to maintain a minimum Equity Ratio of not less than:
	 
	 	 	 	 
	 

	 	 	 	     •      As from financial quarter ending 30th September 2012, 25%; and,

	 
	 	 	 	 
	 
	 	 	 	     •      As from financial quarter ending 30th September 2013 onwards, 30%.

	 
	OTHER RELATED
COVENANTS
	 	Including but not
limited to:

	 
	 	 	 	 
	 

	 	-
	 	Maintenance of acceptable Classification Certificates, Flag Registration and other essential
Security Vessel certification;
	 
	 	 	 	 
	 

	 	-
	 	Maintenance of acceptable Hull and Machinery and War Risks insurances for a minimum amount of the
higher of FMV or 120% of the total outstandings under the Facilities at any time. MII for a minimum
amount of the higher of FMV or 110% of the total outstandings under the Facilities at any time;
	 
	 	 	 	 
	 

	 	-
	 	The Security Vessels to be operated in compliance with all laws and regulations including ISM and
ISPS code;
	 
	 	 	 	 
	 

	 	-
	 	Notification of any default and material litigation;
	 
	 	 	 	 
	 

	 	-
	 	Material Adverse Change of the Corporate Guarantor;

Page 9 of 12

 

	 	 	 	 	 
	 

	 	 	 	No change in legal or beneficial ownership of the Borrowers without the consent of all the
Senior and Junior Lenders;
	 
	 	 	 	 
	 

	 	-
	 	The Borrowers shall procure that at all times:
	 
	 	 	 	 
	 

	 	 	 	     •      Grandunion Inc., or such other company or corporation nominated by it and
acceptable to the Lenders in their sole and absolute discretion (the “AMT
Purchaser”), maintains legal and beneficial ownership of the Corporate Guarantor
of not less than 10% of the issued shares in the capital of the Corporate Guarantor
which entitle the owner to vote at general meetings of the Corporate Guarantor;

	 
	 	 	 	 
	 

	 	 	 	     •      Michael Zolotas and Nicholas Fistes together beneficially own not less than 50.1%
of the voting share capital of the AMT Purchaser;

	 
	 	 	 	 
	 

	 	 	 	     •      Michael Zolotas remains the Chief Executive Officer of the Corporate Guarantor; and,

	 
	 

	 	 	 	Nicholas Fistes remains the Chairman and President of the Corporate Guarantor.

	 
	 	 	 	 
	 

	 	-
	 	The Borrowers are prohibited from incurring further indebtedness (other than unsecured
trade credit in the ordinary course of business) or owning any additional assets other than
the Security Vessels;
	 
	 	 	 	 
	 

	 	-
	 	The Borrowers and Corporate Guarantor to submit annual audited accounts within 180
days of the financial year end and unaudited quarterly accounts within 60 days of fiscal
quarter end. Such accounts to be accompanied by a Covenant Compliance Certificate.
	 
	 	 	 	 
	 

	 	-
	 	The Security Vessels will comply with the trade sanction laws and regulations applicable
to each Lender.
	 
	 	 	 	 
	 

	 	-
	 	Such additional covenants, undertakings or negative pledges as are appropriate under the
circumstances.
	 
	 	 	 	 
	DIVIDEND &

SHARE CAPITAL 

RESTRICTIONS

	 	-	 	Other than with the prior written consent of all the Senior and Junior Lenders, the
Borrowers may not purchase or otherwise acquire for value any shares of its capital or, for
so long as:
	 
	 	 	 	 
	 

	 	 	 	     the Equity Ratio is less than 30%; and,
	 
	 	 	 	 
	 

	 	 	 	     security coverage, as calculated by means of the Security Maintenance Test, is less than
one hundred 
     and forty per cent (140%) of the amount outstanding under the Facilities;
	 
	 	 	 	 
	 

	 	 	 	declare or make distributions in the form of dividends, intercompany loans or other forms
of distribution, and provided further that no breach of covenant, event of default, or
potential event of default, has occurred, or would occur as a result of such
dividends/intercompany loans/other form of distribution being declared or distributed.
	 
	 	 	 	 
	EVENTS OF DEFAULT

	 	 	 	Usual and customary for a facility of this type, including inter alia:
	 
	 	 	 	 
	 

	 	-
	 	Payment default (which, for the avoidance of doubt, shall, inter alia, include non-
reimbursement by the Corporate Guarantor of any drawings made under the Payment
Guarantees, and any default arising under any hedging arrangements);
	 
	 	 	 	 
	 

	 	-
	 	Breach of covenants/material inaccuracy of representations and warranties;
	 
	 	 	 	 
	 

	 	-
	 	Failure to maintain acceptable insurances;
	 
	 	 	 	 
	 

	 	-
	 	Change of control of one or more of the Borrowers, or Corporate Guarantor;
	 
	 	 	 	 
	 

	 	-
	 	Cross Default with respect to the other obligations of the Borrowers or Corporate
Guarantor (to, inter alia, include, for the avoidance of doubt, any breach of the provisions
of the Bond Issue [to be defined as the issue by the Corporate Guarantor of the
US$145,000,000 senior unsecured, unlisted and unrated convertible 7% notes purchased
by the Bond Agent] by the Bond Agent and/or the Corporate Guarantor and/or there
occurs a Fundamental Change pursuant to the Fundamental Change Put Option as
described in the Bond Issue);

Page 10 of 12

 

	 	 	 	 	 
	 

	 	-
	 	Material Adverse Change in the financial condition of one or more of the Borrowers or
Corporate Guarantor;
	 
	 	 	 	 
	 

	 	-
	 	One or more of the Borrowers, or Corporate Guarantor, filing for bankruptcy, insolvency,
administration etc.;
	 
	 	 	 	 
	 

	 	-
	 	The arrest or detention of any Security Vessel if not rectified within a period of 30 days; or,
	 
	 	 	 	 
	 

	 	-
	 	With respect to the Corporate Guarantor:
	 
	 

	 	 	 	     •      any Borrower ceases to be a wholly-owned subsidiary of the Corporate Guarantor;

	 
	 	 	 	 
	 

	 	 	 	     •      the Corporate Guarantor (without the prior written consent of the Lenders) ceases to be a
listed company on NASDAQ or other stock exchange acceptable to the Agent;

	 
	 	 	 	 
	 

	 	 	 	     •      the legal and beneficial shareholding of the AMT Purchaser in the Corporate Guarantor falls
below 10% of the issued shares in the capital of the Corporate Guarantor which entitle the owner
to vote at general meetings of the Corporate Guarantor; and/or,

	 
	 	 	 	 
	 

	 	 	 	     •      the legal and beneficial shareholding of Michael Zolotas and Nicholas Fistes together in
the AMT Purchaser falls below 50.1% of the voting share capital of the AMT Purchaser

	 
	 	 	 	 
	 

	 	-
	 	Termination or cancellation of any employment contract(s) in respect of the Security Vessels
including, for the avoidance of doubt, the Initial Vessel Charters, or any Ship Management
Agreement.

	 	 	 
	EXPENSES

	 	The Borrowers to reimburse the Agent (on a full indemnity basis) for all legal, valuation,
diligence and other charges/expenses (+VAT) in connection with the negotiation, preparation and
execution of the facility agreement, and executing, protecting, preserving and enforcing the
security whether or not facilities are made available.
	 
	 	 
	DOCUMENTARY 

CLOSING

	 	If, for whatever reason, the parties have been unable to agree to and enter into definitive
documentation prior to 31st March 2010, then this Term Sheet shall be deemed to have expired
unless extended in writing by the Senior and Junior Lenders at their sole and absolute
discretion.
	 
	 	 
	TRANSFERABILITY

	 	In minimum amounts of US$1,000,000 and multiples of US$500,000.
	 
	 	 
	ASSIGNMENTS

	 	Neither the Borrowers nor the Corporate Guarantor may assign any of its rights or obligations
under the Facilities without the prior written consent of the Lenders. Any Lender may assign,
and may sell participations in, its rights and obligations under the Facilities, subject:
	 
	 	 
	 

	 	(a) in the case of participations, to customary restrictions on the voting rights of the
participants; and
	 
	 	 
	 

	 	(b) in the case of assignments, to such limitations as may be established in the definitive
credit documentation, including, without limitation, (i) so long as no default or event of
default then exists under the Facilities, the consent of the Borrowers (which consent shall
not be unreasonably withheld or delayed), (ii) a minimum assignment amount of US$5
million, (iii) the approval of the Agent and (iv) payment to the Agent of a US$3,000
assignment fee.
	 
	 	 
	 

	 	The Facilities shall provide for a mechanism, which will allow for each assignee to become a
direct signatory to the Facilities and will relieve the assigning Lender of its obligations with
respect to the assigned portion of its obligations under the Facilities.

Page 11 of 12

 

	 	 	 
	 

	 	Notwithstanding the foregoing provisions, a Lender may freely assign any of its rights
under the Facilities or transfer by novation any of its rights and obligations under these
Facilities to any other branch, subsidiary or related party of that Lender.
	 
	 	 
	DISCLOSURE

	 	Financial institutions may disclose information to a proposed assignee subject to a
confidentiality agreement.
	 
	 	 
	GOVERNING LAW

	 	All agreements shall be subject to English Law.
	 
	 	 
	JURISDICTION

	 	English courts or any other courts of competent jurisdiction.

Page 12 of 12

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