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Exhibit 4.14    
    

 

CROSSTEX ENERGY SERVICES, L.P.  

as Issuer  

CROSSTEX ENERGY, L.P.  

as Guarantor  

and  

THE SUBSIDIARY GUARANTORS LISTED ON

THE SIGNATURE PAGES HERETO  

as Subsidiary Guarantors  

and  

[                                    ]  

as Trustee  

Indenture  

Dated as of                        , 2004  

Subordinated Debt Securities  

 

  

  

CROSSTEX ENERGY SERVICES, L.P.  

 
  Reconciliation and tie between Trust Indenture Act of 1939 and Indenture, dated as
of                        , 2004    
    

	Section of

Trust Indenture

Act of 1939
 
	 	Section(s) of

Indenture

	§ 310	 	(a)(1)	 	7.10
	 	 	(a)(2)	 	7.10
	 	 	(a)(3)	 	Not Applicable
	 	 	(a)(4)	 	Not Applicable
	 	 	(a)(5)	 	7.10
	 	 	(b)	 	7.08, 7.10
	§ 311	 	(a)	 	7.11
	 	 	(b)	 	7.11
	 	 	(c)	 	Not Applicable
	§ 312	 	(a)	 	2.07
	 	 	(b)	 	12.03
	 	 	(c)	 	12.03
	§ 313	 	(a)	 	7.06
	 	 	(b)	 	7.06
	 	 	(c)	 	7.06
	 	 	(d)	 	7.06
	§ 314	 	(a)	 	4.03, 4.04
	 	 	(b)	 	Not Applicable
	 	 	(c)(1)	 	12.04
	 	 	(c)(2)	 	12.04
	 	 	(c)(3)	 	Not Applicable
	 	 	(d)	 	Not Applicable
	 	 	(e)	 	12.05
	§ 315	 	(a)	 	7.01(b)
	 	 	(b)	 	7.05
	 	 	(c)	 	7.01(a)
	 	 	(d)	 	7.01(c)
	 	 	(d)(1)	 	7.01(c)(1)
	 	 	(d)(2)	 	7.01(c)(2)
	 	 	(d)(3)	 	7.01(c)(3)
	 	 	(e)	 	6.11
	§ 316	 	(a)(1)(A)	 	6.05
	 	 	(a)(1)(B)	 	6.04
	 	 	(a)(2)	 	Not Applicable
	 	 	(a)(last sentence)	 	2.11
	 	 	(b)	 	6.07
	§ 317	 	(a)(1)	 	6.08
	 	 	(a)(2)	 	6.09
	 	 	(b)	 	2.06
	§ 318	 	(a)	 	12.01

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

i

 
 
 

TABLE OF CONTENTS    
    

	 
	 	 
	 	Page

	ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE	 	1
	 	SECTION 1.01	 	Definitions	 	1
	 	SECTION 1.02	 	Other Definitions	 	5
	 	SECTION 1.03	 	Incorporation by Reference of Trust Indenture Act	 	5
	 	SECTION 1.04	 	Rules of Construction	 	6
	 	SECTION 1.05	 	Non-Recourse to the General Partner; No Personal Liability of Officers, Directors, Employees or Partners	 	6
	

ARTICLE II THE SECURITIES	
 	

6
	 	SECTION 2.01	 	Amount Unlimited; Issuable in Series	 	6
	 	SECTION 2.02	 	Denominations	 	9
	 	SECTION 2.03	 	Forms Generally	 	9
	 	SECTION 2.04	 	Execution, Authentication, Delivery and Dating	 	9
	 	SECTION 2.05	 	Registrar and Paying Agent	 	11
	 	SECTION 2.06	 	Paying Agent to Hold Money in Trust	 	11
	 	SECTION 2.07	 	Holder Lists	 	12
	 	SECTION 2.08	 	Transfer and Exchange	 	12
	 	SECTION 2.09	 	Replacement Securities	 	12
	 	SECTION 2.10	 	Outstanding Securities	 	13
	 	SECTION 2.11	 	Original Issue Discount, Foreign-Currency Denominated and Treasury Securities	 	13
	 	SECTION 2.12	 	Temporary Securities	 	13
	 	SECTION 2.13	 	Cancellation	 	13
	 	SECTION 2.14	 	Payments; Defaulted Interest	 	14
	 	SECTION 2.15	 	Persons Deemed Owners	 	14
	 	SECTION 2.16	 	Computation of Interest	 	14
	 	SECTION 2.17	 	Global Securities; Book-Entry Provisions	 	14
	

ARTICLE III REDEMPTION	
 	

16
	 	SECTION 3.01	 	Applicability of Article	 	16
	 	SECTION 3.02	 	Notice to the Trustee	 	16
	 	SECTION 3.03	 	Selection of Securities To Be Redeemed	 	16
	 	SECTION 3.04	 	Notice of Redemption	 	17
	 	SECTION 3.05	 	Effect of Notice of Redemption	 	17
	 	SECTION 3.06	 	Deposit of Redemption Price	 	18
	 	SECTION 3.07	 	Securities Redeemed or Purchased in Part	 	18
	 	SECTION 3.08	 	Purchase of Securities	 	18
	 	SECTION 3.09	 	Mandatory and Optional Sinking Funds	 	18
	 	SECTION 3.10	 	Satisfaction of Sinking Fund Payments with Securities	 	19
	 	SECTION 3.11	 	Redemption of Securities for Sinking Fund	 	19
	

ARTICLE IV COVENANTS	
 	

19
	 	SECTION 4.01	 	Payment of Securities	 	19
	 	SECTION 4.02	 	Maintenance of Office or Agency	 	20
	 	SECTION 4.03	 	SEC Reports; Financial Statements	 	20
	 	SECTION 4.04	 	Compliance Certificate	 	21
	 	SECTION 4.05	 	Existence	 	21
	 	SECTION 4.06	 	Waiver of Stay, Extension or Usury Laws	 	21
	 	SECTION 4.07	 	Additional Amounts	 	21
	 	 	 	 	 

ii

 

	

ARTICLE V SUCCESSORS	
 	

22
	 	SECTION 5.01	 	Limitations on Mergers and Consolidations	 	22
	 	SECTION 5.02	 	Successor Person Substituted	 	22
	

ARTICLE VI DEFAULTS AND REMEDIES	
 	

23
	 	SECTION 6.01	 	Events of Default	 	23
	 	SECTION 6.02	 	Acceleration	 	25
	 	SECTION 6.03	 	Other Remedies	 	25
	 	SECTION 6.04	 	Waiver of Defaults	 	25
	 	SECTION 6.05	 	Control by Majority	 	26
	 	SECTION 6.06	 	Limitations on Suits	 	26
	 	SECTION 6.07	 	Rights of Holders to Receive Payment	 	26
	 	SECTION 6.08	 	Collection Suit by Trustee	 	26
	 	SECTION 6.09	 	Trustee May File Proofs of Claim	 	27
	 	SECTION 6.10	 	Priorities	 	27
	 	SECTION 6.11	 	Undertaking for Costs	 	28
	

ARTICLE VII TRUSTEE	
 	

28
	 	SECTION 7.01	 	Duties of Trustee	 	28
	 	SECTION 7.02	 	Rights of Trustee	 	29
	 	SECTION 7.03	 	May Hold Securities	 	30
	 	SECTION 7.04	 	Trustee's Disclaimer	 	30
	 	SECTION 7.05	 	Notice of Defaults	 	30
	 	SECTION 7.06	 	Reports by Trustee to Holders	 	30
	 	SECTION 7.07	 	Compensation and Indemnity	 	30
	 	SECTION 7.08	 	Replacement of Trustee	 	31
	 	SECTION 7.09	 	Successor Trustee by Merger, etc.	 	32
	 	SECTION 7.10	 	Eligibility; Disqualification	 	33
	 	SECTION 7.11	 	Preferential Collection of Claims Against the Partnership, the Guarantor or a Subsidiary Guarantor	 	33
	

ARTICLE VIII DISCHARGE OF INDENTURE	
 	

33
	 	SECTION 8.01	 	Termination of the Partnership's, the Guarantor's and the Subsidiary Guarantors' Obligations	 	33
	 	SECTION 8.02	 	Application of Trust Money	 	36
	 	SECTION 8.03	 	Repayment to Partnership, Guarantor or Subsidiary Guarantor	 	36
	 	SECTION 8.04	 	Reinstatement	 	36
	

ARTICLE IX SUPPLEMENTAL INDENTURES AND AMENDMENTS	
 	

37
	 	SECTION 9.01	 	Without Consent of Holders	 	37
	 	SECTION 9.02	 	With Consent of Holders	 	38
	 	SECTION 9.03	 	Compliance with Trust Indenture Act	 	39
	 	SECTION 9.04	 	Revocation and Effect of Consents	 	39
	 	SECTION 9.05	 	Notation on or Exchange of Securities	 	40
	 	SECTION 9.06	 	Trustee to Sign Amendments, etc.	 	40
	

ARTICLE X SUBORDINATION OF SECURITIES AND GUARANTEE	
 	

40
	 	SECTION 10.01	 	Applicability of Article; Agreement To Subordinate	 	40
	 	SECTION 10.02	 	Liquidation, Dissolution, Bankruptcy	 	41
	 	SECTION 10.03	 	Default on Senior Indebtedness	 	41
	 	SECTION 10.04	 	Acceleration of Payment of Securities	 	42
	 	SECTION 10.05	 	When Distribution Must Be Paid Over	 	42
	 	SECTION 10.06	 	Subrogation	 	42
	 	 	 	 	 

iii

 

	 	SECTION 10.07	 	Relative Rights	 	42
	 	SECTION 10.08	 	Subordination May Not Be Impaired by Partnership	 	43
	 	SECTION 10.09	 	Rights of Trustee and Paying Agent	 	43
	 	SECTION 10.10	 	Distribution or Notice to Representative	 	43
	 	SECTION 10.11	 	Article X Not to Prevent Defaults or Limit Right to Accelerate	 	43
	 	SECTION 10.12	 	Trust Moneys Not Subordinated	 	43
	 	SECTION 10.13	 	Trustee Entitled to Rely	 	44
	 	SECTION 10.14	 	Trustee to Effectuate Subordination	 	44
	 	SECTION 10.15	 	Trustee Not Fiduciary for Holders of Senior Indebtedness	 	44
	 	SECTION 10.16	 	Reliance by Holders of Senior Indebtedness on Subordination Provisions	 	44
	

ARTICLE XI GUARANTEE	
 	

44
	 	SECTION 11.01	 	Guarantee	 	44
	 	SECTION 11.02	 	Execution and Delivery of Guarantee	 	46
	 	SECTION 11.03	 	Limitation on Liability of the Guarantor and the Subsidiary Guarantors	 	47
	 	SECTION 11.04	 	Release of Guarantor or Subsidiary Guarantors from Guarantee	 	47
	 	SECTION 11.05	 	Contribution	 	48
	

ARTICLE XII MISCELLANEOUS	
 	

48
	 	SECTION 12.01	 	Trust Indenture Act Controls	 	48
	 	SECTION 12.02	 	Notices	 	48
	 	SECTION 12.03	 	Communication by Holders with Other Holders	 	49
	 	SECTION 12.04	 	Certificate and Opinion as to Conditions Precedent	 	49
	 	SECTION 12.05	 	Statements Required in Certificate or Opinion	 	49
	 	SECTION 12.06	 	Rules by Trustee and Agents	 	50
	 	SECTION 12.07	 	Legal Holidays	 	50
	 	SECTION 12.08	 	No Recourse Against Others	 	50
	 	SECTION 12.09	 	Governing Law	 	50
	 	SECTION 12.10	 	No Adverse Interpretation of Other Agreements	 	50
	 	SECTION 12.11	 	Successors	 	50
	 	SECTION 12.12	 	Severability	 	50
	 	SECTION 12.13	 	Counterpart Originals	 	50
	 	SECTION 12.14	 	Table of Contents, Headings, etc.	 	50

iv

  

        INDENTURE dated as of                        , 2004 among Crosstex Energy Services,
 L.P., a Delaware limited partnership (the "Partnership"), Crosstex Energy, L.P., a Delaware limited
partnership (the "Guarantor"), the subsidiary guarantors listed on the signature pages hereto (the "Subsidiary Guarantors")and
[                        ],
a                        , as trustee
(the "Trustee"). 

        The
Partnership, the Guarantor and the Subsidiary Guarantors have duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of the
Partnership's debentures, notes, bonds or other evidences of indebtedness to be issued in one or more series unlimited as to principal amount (herein called the "Securities"), and the Guarantee by the
Guarantor and each of the Subsidiary Guarantors of the Securities, as in this Indenture provided. 

        The
Partnership, the Guarantor and the Subsidiary Guarantors are members of the same consolidated group of companies. The Guarantor and the Subsidiary Guarantors will derive direct and
indirect economic benefit from the issuance of the Securities. Accordingly, the Guarantor and each Subsidiary Guarantor has duly authorized the execution and delivery of this Indenture to provide for
its full, unconditional and joint and several guarantee of the Securities to the extent provided in or pursuant to this Indenture. 

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

 
 

ARTICLE I
  DEFINITIONS AND INCORPORATION BY REFERENCE    
    

        SECTION 1.01    Definitions.    

        "Additional
Amounts" means any additional amounts required by the express terms of a Security or by or pursuant to a Board Resolution, under circumstances specified therein or pursuant
thereto, to be paid by the Partnership, the Guarantor or any Subsidiary Guarantor, as the case may be, with respect
to certain taxes, assessments or other governmental charges imposed on certain Holders and that are owing to such Holders. 

        "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 purposes of this definition, "control" of a Person shall mean 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" shall have meanings correlative to the foregoing. 

        "Agent"
means any Registrar or Paying Agent. 

        "Bankruptcy
Law" means Title 11 of the United States Code or any similar federal, state or foreign law for the relief of debtors. 

        "Board
of Directors," means the Board of Directors of the General Partner or any authorized committee of the Board of Directors of the General Partner or any directors and/or officers of
the General Partner to whom such Board of Directors or such committee shall have duly delegated its authority to act hereunder. 

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

        "Business
Day" means any day that is not a Legal Holiday. 

1

 

        "Corporate
Trust Office of the Trustee" means the office of the Trustee located at                  ,
Attention:                  , and as may be located at such other address as the Trustee
may give notice to the Partnership, the Guarantor and the Subsidiary Guarantors. 

        "Debt"
of any Person at any date means any obligation created or assumed by such Person for the repayment of borrowed money and any guarantee thereof. 

        "Default"
means any event, act or condition that is, or after notice or the passage of time or both would be, an Event of Default. 

        "Depositary"
means, with respect to the Securities of any series issuable or issued in whole or in part in global form, the Person specified pursuant to Section 2.01 hereof as the
initial Depositary with respect to the Securities of such series, until a successor shall have been appointed and become such pursuant to the applicable provision of this Indenture, and thereafter
"Depositary" shall mean or include such successor. 

        "Designated
Senior Indebtedness" means (i) any Senior Indebtedness which, at the date of determination, has an aggregate principal amount outstanding of, or under which, at the
date of determination, the holders thereof are committed to lend up to, at least $            million and (ii) any other Senior Indebtedness designated, as provided in Section 2.01,

in respect of any series of Securities. 

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

        "Exchange
Act" means the Securities Exchange Act of 1934, as amended, and any successor statute. 

        "GAAP"
means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant segment
of the accounting profession of the United States, as in effect from time to time. 

        "General
Partner" means Crosstex Operating GP, LLC, a Delaware limited liability company. 

        "Global
Security" means a Security that is issued in global form in the name of the Depositary with respect thereto or its nominee. 

        "Government
Obligations" means, with respect to a series of Securities, direct obligations of the government that issues the currency in which the Securities of the series are payable
for the payment of which the full faith and credit of such government is pledged, or obligations of a Person controlled or supervised by and acting as an agency or instrumentality of such government,
the payment of which is unconditionally guaranteed as a full faith and credit obligation by such government. 

        "Guarantee"
shall mean the guarantee of the Partnership's obligations under the Securities by the Guarantor or a Subsidiary Guarantor as provided in Article XI. 

        "Guarantor"
means the Person named as the "Guarantor" 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, "Guarantor" shall mean such successor Person or Persons who may execute this Indenture, or a supplement thereto, for the purpose of providing a Guarantee of Securities
pursuant to this Indenture. 

        "Holder"
means a Person in whose name a Security is registered. 

        "Indenture"
means this Indenture as amended or supplemented from time to time pursuant to the provisions hereof, and includes the terms of a particular series of Securities established
as contemplated by Section 2.01. 

2

 

        "interest"
means, with respect to an Original Issue Discount Security that by its terms bears interest only after Maturity, interest payable after Maturity. 

        "Interest
Payment Date," when used with respect to any Security, shall have the meaning assigned to such term in the Security as contemplated by Section 2.01. 

        "Issue
Date" means, with respect to Securities of a series, the date on which the Securities of such series are originally issued under this Indenture. 

        "Legal
Holiday" means a Saturday, a Sunday or a day on which banking institutions in any of The City of New York, New York or a Place of Payment are authorized or obligated by law,
regulation or executive order to remain closed. 

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

        "Officer"
means the Chief Executive Officer, the President, the Chief Operating Officer, any Vice President, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the
Controller, the Secretary or any Assistant Secretary of a Person. 

        "Officers'
Certificate" means a certificate signed by two Officers of a Person. 

        "Opinion
of Counsel" means a written opinion from legal counsel who is acceptable to the Trustee. Such counsel may be an employee of or counsel to the Partnership, the Guarantor, a
Subsidiary Guarantor or the Trustee. 

        "Original
Issue Discount Security" means any Security that provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 6.02. 

        "Partnership"
means the Person named as the "Partnership" 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 "Partnership" shall mean such successor Person; provided, however, that for purposes of any provision contained herein
which is required by the TIA, "Partnership" shall also mean each other obligor (if any), other than the Guarantor or a Subsidiary Guarantor, on the Securities of a series. 

        "Partnership
Order" and "Partnership Request" mean, respectively, a written order or request signed in the name of the Partnership, the Guarantor or each Subsidiary Guarantor by two
Officers of the General Partner and delivered to the Trustee. 

        "Person"
means any individual, corporation, partnership, limited liability company, joint venture, incorporated or unincorporated association, joint stock company, trust, unincorporated
organization or government or other agency, instrumentality or political subdivision thereof or other entity of any kind. 

        "Place
of Payment" means, with respect to the Securities of any series, the place or places where the principal of, premium (if any) and interest on and any Additional Amounts with
respect to the Securities of that series are payable as specified in accordance with Section 2.01 subject to the provisions of Section 4.02. 

        "principal"
of a Security means the principal of the Security plus, when appropriate, the premium, if any, on the Security. 

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

3

 

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

        "Representative"
means the trustee, agent or representative (if any) for an issue of Senior Indebtedness. 

        "Responsible
Officer" means any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant
treasurer, trust officer or any other officer of the Trustee who customarily performs 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 such person's knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this
Indenture. 

        "Rule 144A
Securities" means Securities of a series designated pursuant to Section 2.01 as entitled to the benefits of Section 4.03(b). 

        "SEC"
means the Securities and Exchange Commission. 

        "Securities"
has the meaning stated in the preamble of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 

        "Security
Custodian" means, with respect to Securities of a series issued in global form, the Trustee for Securities of such series, as custodian with respect to the Securities of such
series, or any successor entity thereto. 

        "Senior
Indebtedness," unless otherwise provided with respect to the Securities of a series as contemplated by Section 2.01, means (1) all Debt of the Guarantor, the
Subsidiary Guarantors or the Partnership, whether currently outstanding or hereafter issued, unless, by the terms of the instrument creating or evidencing such Debt, it is provided that such Debt is
not superior in right of payment to
the Securities, in the case of the Partnership, or the Guarantee, in the case of the Guarantor or the Subsidiary Guarantors, or to other Debt which is pari
passu with or subordinated to the Securities, in the case of the Partnership, or the Guarantee, in the case of the Guarantor or the Subsidiary Guarantors, and (2) any
modifications, refunding, deferrals, renewals, or extensions of any such Debt or securities, notes or other evidence of Debt issued in exchange for such Debt; provided that in no event shall "Senior
Indebtedness" include (a) Debt evidenced by the Securities or any Guarantee, (b) Debt of any of the Guarantor, the Subsidiary Guarantors or the Partnership owed or owing to any
Subsidiary of the Partnership, (c) Debt of any of the Guarantor or the Subsidiary Guarantors owed or owing to the Partnership, (d) Debt to trade creditors, (e) any liability for
taxes owed or owing by the Guarantor, the Subsidiary Guarantors or the Partnership or (f) Debt of the Guarantor or any Subsidiary Guarantor in the event there is no series of Securities
outstanding that is entitled to the benefits of a Guarantee. 

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

        "Subsidiary"
of any Person means: 

        (1)   any
corporation, association or other business entity of which more than 50% of the total voting power of equity interests entitled, without regard to the occurrence of
any contingency, to vote in the election of directors, managers, trustees or equivalent Persons thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or
one or more of the other Subsidiaries of such Person or combination thereof; or 

        (2)   in
the case of a partnership, more than 50% of the partners' equity interests, considering all partners' equity interests as a single class, is at such time of
determination owned or controlled, 

4

 

directly
or indirectly, by such Person or one or more of the other Subsidiaries of such Person or combination thereof. 

        "Subsidiary
Guarantors" means the Person or Persons named as the "Subsidiary Guarantors" in the first paragraph of this instrument until a successor Person or Persons shall have become
such pursuant to the applicable provisions of this Indenture, and thereafter "Subsidiary Guarantors" shall mean such successor Person or Persons, and any other Subsidiary of the Partnership who may
execute this Indenture, or a supplement thereto, for the purpose of providing a Guarantee of Securities pursuant to this Indenture. 

        "TIA"
means the Trust Indenture Act of 1939, as amended, as in effect on the date hereof. 

        "Trustee"
means the Person named as such above until a successor replaces it in accordance with the applicable provisions of this Indenture, and thereafter "Trustee" means each Person
who is then a Trustee hereunder, and if at any time there is more than one such Person, "Trustee" as used with respect to the Securities of any series means the Trustee with respect to Securities of
that series. 

        "United
States" means the United States of America (including the States and the District of Columbia) and its territories and possessions, which include Puerto Rico, the U.S. Virgin
Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. 

        "U.S.
Government Obligations" means Government Obligations with respect to Securities payable in Dollars. 

        SECTION 1.02    Other Definitions.    

	Term
 
	 	Defined

in Section

	"Bankruptcy Custodian"	 	6.01
	"Conversion Event"	 	6.01
	"covenant defeasance"	 	8.01
	"Event of Default"	 	6.01
	"Exchange Rate"	 	2.11
	"Funding Guarantor"	 	10.05
	"Judgment Currency"	 	6.10
	"legal defeasance"	 	8.01
	"mandatory sinking fund payment"	 	3.09
	"optional sinking fund payment"	 	3.09
	"Paying Agent"	 	2.05
	"Registrar"	 	2.05
	"Required Currency"	 	6.10
	"Successor"	 	5.01
	"Subordinated Securities"	 	10.01

        SECTION 1.03    Incorporation by Reference of Trust Indenture Act.    

        Whenever
this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture (and if the Indenture is not qualified under the
TIA at that time, as if it were so qualified unless otherwise provided). The following TIA terms used in this Indenture have the following meanings: 

        "Commission"
means the SEC. 

        "indenture
securities" means the Securities. 

        "indenture
security holder" means a Holder. 

5

 

        "indenture
to be qualified" means this Indenture. 

        "indenture
trustee" or "institutional trustee" means the Trustee. 

        "obligor"
on the indenture securities means the Partnership, the Guarantor, any Subsidiary Guarantor or any other obligor on the Securities. 

        All
terms used in this Indenture that are defined by the TIA, defined by a TIA reference to another statute or defined by an SEC rule under the TIA have the meanings so assigned to them. 

        SECTION 1.04    Rules of Construction.    

        Unless
the context otherwise requires: 

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

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

        (3)   "or"
is not exclusive; 

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

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

        (6)   all
references in this instrument to Articles and Sections are references to the corresponding Articles and Sections in and of this instrument. 

        SECTION
1.05    Non-Recourse to the General Partner; No Personal Liability of Officers, Directors, Employees or
Partners.    

        Obligations
of the Partnership, the Guarantor and a Subsidiary Guarantor under this Indenture and the Securities hereunder are non-recourse to the General Partner, and its
respective Affiliates (other than the Partnership, the Guarantor and a Subsidiary Guarantor), and payable only out of cash flow and assets of the Partnership, the Guarantor and a Subsidiary Guarantor.
The Trustee, and each Holder of a Security by its acceptance thereof, will be deemed to have agreed in this Indenture that (1) neither the General Partner nor its assets (nor any of its
respective Affiliates other
than the Partnership, the Guarantor and a Subsidiary Guarantor, nor its respective assets) shall be liable for any of the obligations of the Partnership, the Guarantor and a Subsidiary Guarantor under
this Indenture or such Securities, and (2) no director, officer, employee, partner or unitholder, as such, of the Partnership, the Guarantor and a Subsidiary Guarantor, the Trustee, the General
Partner or any Affiliate of any of the foregoing entities shall have any personal liability in respect of the obligations of the Partnership, the Guarantor and a Subsidiary Guarantor under this
Indenture or such Securities by reason of his, her or its status. 

 
 

ARTICLE II
  THE SECURITIES    
    

        SECTION 2.01    Amount Unlimited; Issuable in Series.    

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

        The
Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution, and set forth, or determined in the manner provided, in an Officers'
Certificate of 

6

 

the
General Partner or in a Partnership Order, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 

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

        (2)   if
there is to be a limit, the limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered under this Indenture
(except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 2.08, 2.09, 2.12,
2.17, 3.07 or 9.05 and except for any Securities which, pursuant to Section 2.04 or 2.17, are deemed never to have been authenticated and delivered hereunder); provided,
however, that unless otherwise provided in the terms of the series, the authorized aggregate principal amount of such series may be increased before or after the issuance of
any Securities of the series by a Board Resolution (or action pursuant to a Board Resolution) to such effect; 

        (3)   whether
any Securities of the series are to be issuable initially in temporary global form and whether any Securities of the series are to be issuable in permanent
global form, as Global Securities or otherwise, and, if so, whether beneficial owners of interests in any such Global Security may exchange such interests for Securities of such series and of like
tenor of any authorized form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section 2.17, and the initial Depositary
and Security Custodian, if any, for any Global Security or Securities of such series; 

        (4)   the
manner in which any interest payable on a temporary Global Security on any Interest Payment Date will be paid if other than in the manner provided in
Section 2.14; 

        (5)   the
date or dates on which the principal of and premium (if any) on the Securities of the series is payable or the method of determination thereof; 

        (6)   the
rate or rates, or the method of determination thereof, at which the Securities of the series shall bear interest, if any, whether and under what circumstances
Additional Amounts with respect to such Securities shall be payable, the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable and the
record date for the interest payable on any Securities on any Interest Payment Date, or if other than provided herein, the Person to whom any interest on Securities of the series shall be payable; 

        (7)   the
place or places where, subject to the provisions of Section 4.02, the principal of, premium (if any) and interest on and any Additional Amounts with respect
to the Securities of the series shall be payable; 

        (8)   the
period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and the terms and conditions upon which
Securities of the series may be redeemed, in whole or in part, at the option of the Partnership, if the Partnership is to have that option, and the manner in which the Partnership must exercise any
such option, if different from those set forth herein; 

        (9)   whether
Securities of the series are entitled to the benefits of any Guarantee of any Subsidiary Guarantor pursuant to this Indenture; 

        (10) the
obligation, if any, of the Partnership to redeem, purchase or repay Securities of the series pursuant to any sinking fund or analogous provisions or at the option
of a Holder thereof and the period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and the terms and conditions upon which Securities of
the series shall be redeemed, purchased or repaid in whole or in part pursuant to such obligation; 

7

 

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

        (12) if
other than Dollars, the currency or currencies (including composite currencies) or the form, including equity securities, other debt securities (including
Securities), warrants or any other securities or property of the Partnership, the Guarantor any Subsidiary Guarantor or any other Person, in which payment of the principal of, premium (if any) and
interest on and any Additional Amounts with respect to the Securities of the series shall be payable; 

        (13) if
the principal of, premium (if any) or interest on or any Additional Amounts with respect to the Securities of the series are to be payable, at the election of the
Partnership or a Holder thereof, in a currency or currencies (including composite currencies) other than that in which the Securities are stated to be payable, the currency or currencies (including
composite currencies) in which payment of the principal of, premium (if any) and interest on and any Additional Amounts with respect to Securities of such series as to which such election is made
shall be payable, and the periods within which and the terms and conditions upon which such election is to be made; 

        (14) if
the amount of payments of principal of, premium (if any) and interest on and any Additional Amounts with respect to the Securities of the series may be determined
with reference to any commodities, currencies or indices, values, rates or prices or any other index or formula, the manner in which such amounts shall be determined; 

        (15) if
other than the entire principal amount thereof, the portion of the principal amount of Securities of the series that shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 6.02; 

        (16) any
additional means of satisfaction and discharge of this Indenture and any additional conditions or limitations to discharge with respect to Securities of the series
and the related Guarantee pursuant to Article VIII or any modifications of or deletions from such conditions or limitations; 

        (17) any
deletions or modifications of or additions to the Events of Default set forth in Section 6.01 or covenants of the Partnership, the Guarantor or any
Subsidiary Guarantor set forth in Article IV pertaining to the Securities of the series; 

        (18) any
restrictions or other provisions with respect to the transfer or exchange of Securities of the series, which may amend, supplement, modify or supersede those
contained in this Article II; 

        (19) if
the Securities of the series are to be convertible into or exchangeable for common units, other debt securities (including Securities), warrants, other equity
securities or any other securities or property of the Partnership, the Guarantor, any Subsidiary Guarantor or any other Person, at the option of the Partnership or the Holder or upon the occurrence of
any condition or event, the terms and conditions for such conversion or exchange; 

        (20) the
subordination, if any, of the Securities of the series pursuant to Article X and any changes or additions to Article X or designation of any
Designated Senior Indebtedness; 

        (21) whether
the Securities of the series are to be entitled to the benefit of Section 4.03(b) (and accordingly constitute Rule 144A Securities); and 

        (22) any
other terms of the series (which terms shall not be prohibited by the provisions of this Indenture). 

        All
Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to
above and 

8

 

(subject
to Section 2.03) set forth, or determined in the manner provided, in the Officers' Certificate or Partnership Order referred to above or in any such indenture supplemental hereto. 

        If
any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action, together with such Board Resolution,
shall be set forth in an Officers' Certificate or certified by the Secretary or an Assistant Secretary of the General Partner and delivered to the Trustee at or prior to the delivery of the Officers'
Certificate or Partnership Order setting forth the terms of the series. 

        SECTION
2.02    Denominations.    

        The
Securities of each series shall be issuable in such denominations as shall be specified as contemplated by Section 2.01. In the absence of any such provisions with respect to
the Securities of any series, the Securities of such series denominated in Dollars shall be issuable in denominations of $1,000 and any integral multiples thereof. 

        SECTION
2.03    Forms Generally.    

        The
Securities of each series shall be in fully registered form and in substantially such form or forms (including temporary or permanent global form) established by or pursuant to a
Board Resolution or in one or more indentures supplemental hereto. The Securities may have notations, legends or endorsements required by law, securities exchange rule, the Partnership's certificate
of limited partnership, agreement of limited partnership or other similar governing documents, agreements to which the Partnership is subject, if any, or usage (provided that any such notation, legend
or endorsement is in a form acceptable to the Partnership). A copy of the Board Resolution establishing the form or forms of Securities of any series shall be delivered to the Trustee at or prior to
the delivery of the Partnership Order contemplated by Section 2.04 for the authentication and delivery of such Securities. 

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

        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
	 	 	 	 	 
	 	 	By:	 	 
	 	 	 	 	
Authorized Signatory".

        SECTION 2.04    Execution, Authentication, Delivery and Dating.    

        Two
Officers of the General Partner shall sign the Securities on behalf of the Partnership and, with respect to the Guarantees of the Securities, two Officers of the General Partner
shall sign the Securities on behalf of the Guarantor or such Subsidiary Guarantor, in each case by manual or facsimile signature. 

        If
an Officer of the General Partner whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall be valid nevertheless. 

9

   
        A Security shall not be entitled to any benefit under this Indenture or the related Guarantees or be valid or obligatory for any purpose until authenticated by the manual signature of an
authorized signatory of the Trustee, which signature shall be conclusive evidence that the Security has been authenticated under this Indenture. Notwithstanding the foregoing, if any Security has been
authenticated and delivered hereunder but never issued and sold by the Partnership, and the Partnership delivers such Security to the Trustee for cancellation as provided in Section 2.13,
together with a written statement (which need not comply with Section 11.05 and need not be accompanied by an Opinion of Counsel) stating that such Security has never been issued and sold by
the Partnership, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture
or the related Guarantees. 

        At
any time and from time to time after the execution and delivery of this Indenture, the Partnership may deliver Securities of any series executed by the Partnership, the Guarantor and
each Subsidiary Guarantor to the Trustee for authentication, and the Trustee shall authenticate and deliver such Securities for original issue upon a Partnership Order for the authentication and
delivery of such Securities or pursuant to such procedures acceptable to the Trustee as may be specified from time to time by Partnership Order. Such order shall specify the amount of the Securities
to be authenticated, the date on which the original issue of Securities is to be authenticated, the name or names of the initial Holder or Holders and any other terms of the Securities of such series
not otherwise determined. If provided for in such procedures, such Partnership Order may authorize (1) authentication and delivery of Securities of such series for original issue from time to
time, with certain terms (including, without limitation, the Maturity dates or dates, original issue date or dates and interest rate or rates) that differ from Security to Security and (2) may
authorize authentication and delivery pursuant to oral or electronic instructions from the Partnership or its duly authorized agent, which instructions shall be promptly confirmed in writing. 

        If
the form or terms of the Securities of the series have been established in or pursuant to one or more Board Resolutions as permitted by Section 2.01, in authenticating such
Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive (in addition to the Partnership Order referred
to above and the other documents required by Section 12.04), and (subject to Section 7.01) shall be fully protected in relying upon: 

        (a)   an
Officers' Certificate setting forth the Board Resolution and, if applicable, an appropriate record of any action taken pursuant thereto, as contemplated by the last
paragraph of Section 2.01; and 

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

          (i)  the
form of such Securities has been established in conformity with the provisions of this Indenture; 

         (ii)  the
terms of such Securities have been established in conformity with the provisions of this Indenture; and 

        (iii)  that,
when authenticated and delivered by the Trustee and issued by the Partnership in the manner and subject to any conditions specified in such Opinion of Counsel,
such Securities and the related Guarantees will constitute valid and binding obligations of the Partnership, the Guarantor and the Subsidiary Guarantors, respectively, enforceable against the
Partnership, the Guarantor and the Subsidiary Guarantors, respectively, in accordance with their respective terms, except as the enforceability thereof may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws in effect from time to time affecting the rights of creditors generally, and the application 

10

 

of
general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

        If
all the Securities of any series are not to be issued at one time, it shall not be necessary to deliver an Officers' Certificate and Opinion of Counsel at the time of issuance of each
such Security, but such Officers' Certificate and Opinion of Counsel shall be delivered at or before the time of issuance of the first Security of the series to be issued. 

        The
Trustee shall not be required to authenticate such Securities if the issuance of such Securities pursuant to this Indenture would affect the Trustee's own rights, duties or
immunities under the Securities and this Indenture or otherwise in a manner not reasonably acceptable to the Trustee. 

        The
Trustee may appoint an authenticating agent acceptable to the Partnership to authenticate Securities. Unless limited by the terms of such appointment, an authenticating agent may
authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same
rights as an Agent to deal with the Partnership, the Guarantor, any Subsidiary Guarantor or an Affiliate of the Partnership, the Guarantor or any Subsidiary Guarantor. 

        Each
Security shall be dated the date of its authentication. 

        SECTION 2.05    Registrar and Paying Agent.    

        The
Partnership shall maintain an office or agency for each series of Securities where Securities of such series may be presented for registration of transfer or exchange ("Registrar")
and an office or agency where Securities of such series may be presented for payment ("Paying Agent"). The Registrar shall keep a register of the Securities of such series and of their transfer and
exchange. The Partnership may appoint one or more co-registrars and one or more additional paying agents. The term "Registrar" includes any co-registrar and the term "Paying
Agent" includes any additional paying agent. 

        The
Partnership shall enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture. The agreement shall implement the provisions of this
Indenture that relate to such Agent. The Partnership shall notify the Trustee of the name and address of any Agent not a party to this Indenture. The Partnership may change any Paying Agent or
Registrar without notice to any Holder. If the Partnership fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Partnership, the Guarantor, any
Subsidiary Guarantor or any Subsidiary may act as Paying Agent or Registrar. 

        The
Partnership initially appoints the Trustee as Registrar and Paying Agent. 

        SECTION 2.06    Paying Agent to Hold Money in Trust.    

        The
Partnership shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the benefit of Holders or the Trustee all money
held by the Paying Agent for the payment of principal of, premium, if any, or interest on or any Additional Amounts with respect to Securities and will notify the Trustee of any default by the
Partnership in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The
Partnership at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. Upon payment over to the Trustee and upon accounting for any funds
disbursed, the Paying Agent (if other than the Partnership, the Guarantor, or a Subsidiary) shall have no further liability for the money. If the Partnership, the Guarantor, a Subsidiary Guarantor or
a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Each Paying Agent shall otherwise comply
with TIA § 317(b). 

11

 

        SECTION 2.07    Holder Lists.    

        The
Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Holders and shall otherwise comply with
TIA § 312(a). If the Trustee is not the Registrar with respect to a series of Securities, the Partnership shall furnish to the Trustee at least five Business Days before each Interest
Payment Date with respect to such series of Securities, and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of
the names and addresses of Holders of such series, and the Partnership shall otherwise comply with TIA § 312(a). 

        SECTION 2.08    Transfer and Exchange.    

        Except
as set forth in Section 2.17 or as may be provided pursuant to Section 2.01: 

        When
Securities of any series are presented to the Registrar with the request to register the transfer of such Securities or to exchange such Securities for an equal principal amount of
Securities of the same series of like tenor and of other authorized denominations, the Registrar shall register the transfer or make the exchange as requested if its requirements and the requirements
of this Indenture for such transactions are met; provided, however, that the Securities presented or surrendered for registration of transfer or
exchange shall be duly endorsed or accompanied by a written instruction of transfer in form reasonably satisfactory to the Registrar duly executed by the Holder thereof or by his attorney, duly
authorized in writing, on which instruction the Registrar can rely. 

        To
permit registrations of transfers and exchanges, the Partnership, the Guarantor and the Subsidiary Guarantors shall execute and the Trustee shall authenticate Securities at the
Registrar's written request and submission of the Securities or Global Securities. No service charge shall be made to a Holder for any registration of transfer or exchange (except as otherwise
expressly permitted herein), but the Partnership may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than such
transfer tax or similar governmental charge payable upon exchanges pursuant to Section 2.12, 3.07 or 9.05). The Trustee shall authenticate Securities in accordance with the provisions of
Section 2.04. Notwithstanding any other provisions of this Indenture to the contrary, the Partnership shall not be required to register the transfer or exchange of (a) any Security
selected for redemption in whole or in part pursuant to Article III, except the unredeemed portion of any Security being redeemed in part, or (b) any Security during the period beginning
15 Business Days prior to the mailing of notice of any offer to repurchase Securities of the series required pursuant to the terms thereof or of redemption of Securities of a series to be redeemed and
ending at the close of business on the day of mailing. 

        SECTION
2.09    Replacement Securities.    

        If
any mutilated Security is surrendered to the Trustee, or if the Holder of a Security claims that the Security has been destroyed, lost or stolen and the Partnership and the Trustee
receive evidence to
their satisfaction of the destruction, loss or theft of such Security, the Partnership shall issue, the Guarantor and the Subsidiary Guarantors shall execute and the Trustee shall authenticate a
replacement Security of the same series if the Trustee's requirements are met. If any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the
Partnership in its discretion may, instead of issuing a new Security, pay such Security. If required by the Trustee, the Guarantor, any Subsidiary Guarantor or the Partnership, such Holder must
furnish an indemnity bond that is sufficient in the judgment of the Trustee and the Partnership to protect the Partnership, the Guarantor, each Subsidiary Guarantor, the Trustee, any Agent or any
authenticating agent from any loss that any of them may suffer if a Security is replaced. The Partnership and the Trustee may charge a Holder for their expenses in replacing a Security. 

        Every
replacement Security is an additional obligation of the Partnership. 

12

 

        SECTION
2.10    Outstanding Securities.    

        The
Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in
the interest in a Global Security effected by the Trustee hereunder and those described in this Section 2.10 as not outstanding. 

        If
a Security is replaced pursuant to Section 2.09, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Security is held by a bona
fide purchaser. 

        If
the principal amount of any Security is considered paid under Section 4.01, it ceases to be outstanding and interest on it ceases to accrue. 

        A
Security does not cease to be outstanding because the Partnership, the Guarantor, a Subsidiary Guarantor or an Affiliate of the Partnership, the Guarantor or a Subsidiary Guarantor
holds the Security. 

        SECTION
2.11    Original Issue Discount, Foreign-Currency Denominated and Treasury Securities.    

        In
determining whether the Holders of the required principal amount of Securities have concurred in any direction, amendment, supplement, waiver or consent, (a) the principal
amount of an Original Issue
Discount Security shall be the principal amount thereof that would be due and payable as of the date of such determination upon acceleration of the Maturity thereof pursuant to Section 6.02,
(b) the principal amount of a Security denominated in a foreign currency shall be the Dollar equivalent, as determined by the Partnership by reference to the noon buying rate in The City of New
York for cable transfers for such currency, as such rate is certified for customs purposes by the Federal Reserve Bank of New York (the "Exchange Rate") 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, as determined by the Partnership by reference to the Exchange Rate on the date of
original issuance of such Security, of the amount determined as provided in (a) above), of such Security and (c) Securities owned by the Partnership, the Guarantor, a Subsidiary
Guarantor or any other obligor upon the Securities or any Affiliate of the Partnership, of the Guarantor, of a Subsidiary Guarantor or of such other obligor shall be disregarded, except that, for the
purpose of determining whether the Trustee shall be protected in relying upon any such direction, amendment, supplement, waiver or consent, only Securities that a Responsible Officer of the Trustee
actually knows are so owned shall be so disregarded. 

        SECTION
2.12    Temporary Securities.    

        Until
definitive Securities of any series are ready for delivery, the Partnership may prepare, the Guarantor and the Subsidiary Guarantors shall execute and the Trustee shall
authenticate temporary Securities. Temporary Securities shall be substantially in the form of definitive Securities, but may have variations that the Partnership considers appropriate for temporary
Securities. Without unreasonable delay, the Partnership shall prepare, the Guarantor and the Subsidiary Guarantors shall execute and the Trustee shall authenticate definitive Securities in exchange
for temporary Securities. Until so exchanged, the temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities. 

        SECTION 2.13    Cancellation.    

        The
Partnership, the Guarantor or any Subsidiary Guarantor at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the
Trustee any Securities surrendered to them for registration of transfer, exchange, payment or redemption or for credit against any sinking fund payment. The Trustee shall cancel all Securities
surrendered for registration of transfer, exchange, payment, redemption, replacement or cancellation or for credit against any sinking fund. Unless the Partnership shall direct in writing that
canceled Securities be returned to it, after written notice to the Partnership all canceled Securities held by the Trustee shall be 

13

 

disposed
of in accordance with the usual disposal procedures of the Trustee, and the Trustee shall maintain a record of their disposal. The Partnership may not issue new Securities to replace
Securities that have been paid or that have been delivered to the Trustee for cancellation. 

        SECTION 2.14    Payments; Defaulted Interest.    

        Unless
otherwise provided as contemplated by Section 2.01, interest (except defaulted interest) on any Security that is payable, and is punctually paid or duly provided for, on
any Interest Payment Date shall be paid to the Persons who are registered Holders of that Security at the close of business on the record date next preceding such Interest Payment Date, even if such
Securities are canceled after such record date and on or before such Interest Payment Date. The Holder must surrender a Security to a Paying Agent to collect principal payments. Unless otherwise
provided with respect to the Securities of any series, the Partnership will pay the principal of, premium (if any) and interest on and any Additional Amounts with respect to the Securities in Dollars.
Such amounts shall be payable at the offices of the Trustee or any Paying Agent, provided that at the option of the Partnership, the Partnership may pay
such amounts (1) by wire transfer with respect to Global Securities or (2) by check payable in such money mailed to a Holder's registered address with respect to any Securities. 

        If
the Partnership defaults in a payment of interest on the Securities of any series, the Partnership shall pay the defaulted interest in any lawful manner plus, to the extent lawful,
interest on the defaulted interest, in each case at the rate provided in the Securities of such series and in Section 4.01. The Partnership may pay the defaulted interest to the Persons who are
Holders on a subsequent special record date. At least 15 days before any special record date selected by the Partnership, the Partnership (or the Trustee, in the name of and at the expense of
the Partnership upon 20 days' prior written notice from the Partnership setting forth such special record date and the interest amount to be paid) shall mail to Holders a notice that states the
special record date, the related payment date and the amount of such interest to be paid. 

        SECTION 2.15    Persons Deemed Owners.    

        The
Partnership, the Guarantor, the Subsidiary Guarantors, the Trustee, any Agent and any authenticating agent may treat the Person in whose name any Security is registered as the owner
of such Security for the purpose of receiving payments of principal of, premium (if any) or interest on or any Additional Amounts with respect to such Security and for all other purposes. None of the
Partnership, the Guarantor, any Subsidiary Guarantor, the Trustee, any Agent or any authenticating agent shall be affected by any notice to the contrary. 

        SECTION 2.16    Computation of Interest.    

        Except
as otherwise specified as contemplated by Section 2.01 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a year
comprising twelve 30-day months. 

        SECTION 2.17    Global Securities; Book-Entry Provisions.    

        If
Securities of a series are issuable in global form as a Global Security, as contemplated by Section 2.01, then, notwithstanding clause (11) of Section 2.01 and
the provisions of Section 2.02, any such Global Security shall represent such of the outstanding Securities of such series as shall be specified therein and may provide that it shall represent
the aggregate amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of outstanding Securities represented thereby may from time to time be reduced or
increased, as appropriate, to reflect exchanges, transfers or redemptions. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, of outstanding
Securities represented thereby shall be made by the Trustee (i) in such manner and upon instructions given by such Person or Persons as shall be specified in such Security or in a Partnership
Order to be delivered to the Trustee pursuant to 

14

 

Section 2.04
or (ii) otherwise in accordance with written instructions or such other written form of instructions as is customary for the Depositary for such Security, from such
Depositary or its nominee on behalf of any Person having a beneficial interest in such Global Security. Subject to the provisions of Section 2.04 and, if applicable, Section 2.12, the
Trustee shall deliver and redeliver any Security in permanent global form in the manner and upon instructions given by the Person or Persons specified in such Security or in the applicable Partnership
Order. With respect to the Securities of any series that are represented by a Global Security, the Partnership, the Guarantor and the Subsidiary Guarantors authorize the execution and delivery by the
Trustee of a letter of representations or other similar agreement or instrument in the form customarily provided for by the Depositary appointed with respect to such Global Security. Any Global
Security may be deposited with the Depositary or its nominee, or may remain in the custody of the Trustee or the Security Custodian therefor pursuant to a FAST Balance Certificate Agreement or similar
agreement between the Trustee and the Depositary. If a Partnership Order has been, or simultaneously is, delivered, any instructions by the Partnership with respect to endorsement or delivery or
redelivery of a Security in global form shall be in writing but need not comply with Section 12.05 and need not be accompanied by an Opinion of Counsel. 

        Members
of, or participants in, the Depositary ("Agent Members") shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary, or
the Trustee or the Security Custodian as its custodian, or under such Global Security, and the Depositary may be treated by the Partnership, the Guarantor, any Subsidiary Guarantor, the Trustee or the
Security Custodian and any agent of the Partnership, the Guarantor, any Subsidiary Guarantor, the Trustee or the Security Custodian as the absolute owner of such Global Security for all purposes
whatsoever. Notwithstanding the foregoing, (i) the registered holder of a Global Security of a series may grant proxies and otherwise authorize any Person, including Agent Members and Persons
that may hold interests through Agent Members, to take any action that a Holder of Securities of such series is entitled to take under this Indenture or the Securities of such series and
(ii) nothing herein shall prevent the Partnership, the Guarantor, any Subsidiary Guarantor, the Trustee or the Security Custodian, or any agent of the Partnership, the Guarantor, any Subsidiary
Guarantor, the Trustee or the Security Custodian, from giving effect to any written certification, proxy or other authorization furnished by the Depositary or shall impair, as between the Depositary
and its Agent Members, the operation of customary practices governing the exercise of the rights of a beneficial owner of any Security. 

        Notwithstanding
Section 2.08, and except as otherwise provided pursuant to Section 2.01: Transfers of a Global Security shall be limited to transfers of such Global
Security in whole, but not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Security may be transferred in accordance with the rules
and procedures of the Depositary. Securities shall be transferred to all beneficial owners in exchange for their beneficial interests in a Global Security if, and only if, either (1) the
Depositary notifies the Partnership that it is unwilling or unable to continue as Depositary for the Global Security and a successor Depositary is not appointed by the Partnership within
90 days of such notice, (2) an Event of Default has occurred with respect to such series and is continuing and the Registrar has received a request from the Depositary to issue
Securities in lieu of all or a portion of the Global Security (in which case the Partnership shall deliver Securities within 30 days of such request) or (3) the Partnership determines
not to have the Securities represented by a Global Security. 

        In
connection with any transfer of a portion of the beneficial interests in a Global Security to beneficial owners pursuant to this Section 2.17, the Registrar shall reflect on
its books and records the date and a decrease in the principal amount of the Global Security in an amount equal to the principal amount of the beneficial interests in the Global Security to be
transferred, and the Partnership, the Guarantor and the Subsidiary Guarantors shall execute, and the Trustee upon receipt of a Partnership Order for the authentication and delivery of Securities shall
authenticate and deliver, one or more Securities of the same series of like tenor and amount. 

15

  

        In connection with the transfer of all the beneficial interests in a Global Security to beneficial owners pursuant to this Section 2.17, the Global Security shall be deemed to be
surrendered to the Trustee for cancellation, and the Partnership, the Guarantor and the Subsidiary Guarantors shall execute, and the Trustee shall authenticate and deliver, to each beneficial owner
identified by the Depositary in exchange for its beneficial interests in the Global Security, an equal aggregate principal amount of Securities of authorized denominations. 

        Neither
the Partnership, the Guarantor, any Subsidiary Guarantor nor the Trustee will have any responsibility or liability for any aspect of the records relating to, or payments made on
account of, Securities by the Depositary, or for maintaining, supervising or reviewing any records of the Depositary relating to such Securities. Neither the Partnership, the Guarantor, any Subsidiary
Guarantor nor the Trustee shall be liable for any delay by the related Global Security Holder or the Depositary in identifying the beneficial owners, and each such Person may conclusively rely on, and
shall be protected in relying on, instructions from such Global Security Holder or the Depositary for all purposes (including with respect to the registration and delivery, and the respective
principal amounts, of the Securities to be issued). 

        The
provisions of the last sentence of the third paragraph of Section 2.04 shall apply to any Global Security if such Global Security was never issued and sold by the Partnership
and the Partnership, the Guarantor or a Subsidiary Guarantor delivers to the Trustee the Global Security together with written instructions (which need not comply with Section 12.05 and need
not be accompanied by an Opinion of Counsel) with regard to the cancellation or reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by
the last sentence of the third paragraph of Section 2.04. 

        Notwithstanding
the provisions of Sections 2.03 and 2.14, unless otherwise specified as contemplated by Section 2.01, payment of principal of, premium (if any) and interest
on and any Additional Amounts with respect to any Global Security shall be made to the Person or Persons specified therein. 

 
 

ARTICLE III
  REDEMPTION    
    

        SECTION 3.01    Applicability of Article.    

        Securities
of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by
Section 2.01 for Securities of any series) in accordance with this Article III. 

        SECTION 3.02    Notice to the Trustee.    

        If
the Partnership elects to redeem Securities of any series pursuant to this Indenture, it shall notify the Trustee of the Redemption Date and the principal amount of Securities of such
series to be redeemed. The Partnership shall so notify the Trustee at least 45 days before the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee) by delivering to
the Trustee an Officers' Certificate stating that such redemption will comply with the provisions of this Indenture and of the Securities of such series. Any such notice may be canceled at any time
prior to the mailing of such notice of such redemption to any Holder and shall thereupon be void and of no effect. 

        SECTION 3.03    Selection of Securities To Be Redeemed.    

        If
less than all the Securities of any series are to be redeemed (unless all of the Securities of such series of a specified tenor 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 (and tenor) not previously called for redemption,
either pro rata, by lot or by 

16

 

such
other method as the Trustee shall deem fair and appropriate and that may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that
series or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series or of the
principal amount of Global Securities of such series. 

        The
Trustee shall promptly notify the Partnership and the Registrar 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
purposes of this Indenture, unless the context otherwise requires, all provisions relating to redemption of Securities shall relate, in the case of any of the Securities redeemed or
to be redeemed only in part, to the portion of the principal amount thereof which has been or is to be redeemed. 

        SECTION 3.04    Notice of Redemption.    

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

        All
notices of redemption shall identify the Securities to be redeemed and shall state: 

        (1)   the
Redemption Date; 

        (2)   the
Redemption Price; 

        (3)   that,
unless the Partnership, the Guarantor and the Subsidiary Guarantors default in making the redemption payment, interest on Securities called for redemption ceases
to accrue on and after the Redemption Date, and the only remaining right of the Holders of such Securities is to receive payment of the Redemption Price upon surrender to the Paying Agent of the
Securities redeemed; 

        (4)   if
any Security is to be redeemed in part, the portion of the principal amount thereof to be redeemed and that on and after the Redemption Date, upon surrender for
cancellation of such Security to the Paying Agent, a new Security or Securities in the aggregate principal amount equal to the unredeemed portion thereof will be issued without charge to the Holder; 

        (5)   that
Securities called for redemption must be surrendered to the Paying Agent to collect the Redemption Price and the name and address of the Paying Agent; 

        (6)   that
the redemption is for a sinking or analogous fund, if such is the case; and 

        (7)   the
CUSIP number, if any, relating to such Securities. 

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

        SECTION 3.05    Effect of Notice of Redemption.    

        Once
notice of redemption is mailed, Securities called for redemption become due and payable on the Redemption Date and at the Redemption Price. Upon surrender to the Paying Agent, such
Securities called for redemption shall be paid at the Redemption Price, but interest installments whose maturity is on or prior to such Redemption Date will be payable on the relevant Interest Payment
Dates to the Holders of record at the close of business on the relevant record dates specified pursuant to Section 2.01. 

17

  

        SECTION 3.06    Deposit of Redemption Price.    

        On
or prior to 11:00 a.m., New York City time, on any Redemption Date, the Partnership, the Guarantor or a Subsidiary Guarantor shall deposit with the Trustee or the Paying Agent
(or, if the Partnership, the Guarantor or such Subsidiary Guarantor is acting as the Paying Agent, segregate and hold in trust as provided in Section 2.06) an amount of money in same day funds
sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest on and any Additional Amounts with respect to, the Securities or
portions thereof which are to be redeemed on that date, other than Securities or portions thereof called for redemption on that date which have been delivered by the Partnership, the Guarantor or a
Subsidiary Guarantor to the Trustee for cancellation. 

        If
the Partnership, the Guarantor or a Subsidiary Guarantor complies with the preceding paragraph, then, unless the Partnership, the Guarantor and the Subsidiary Guarantors default in
the payment of such Redemption Price, interest on the Securities to be redeemed will cease to accrue on and after the applicable Redemption Date, whether or not such Securities are presented for
payment, and the Holders of such Securities shall have no further rights with respect to such Securities except for the right to receive the Redemption Price upon surrender of such Securities. If any
Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal, premium, if any, any Additional Amounts, and, to the extent lawful, accrued interest thereon
shall, until paid, bear interest from the Redemption Date at the rate specified pursuant to Section 2.01 or provided in the Securities or, in the case of Original Issue Discount Securities,
such Securities' yield to maturity. 

        SECTION
3.07    Securities Redeemed or Purchased in Part.    

        Upon
surrender to the Paying Agent of a Security to be redeemed in part, the Partnership, the Guarantor and the Subsidiary Guarantors shall execute and the Trustee shall authenticate and
deliver to the Holder of such Security without service charge a new Security or Securities, of the same series and of any authorized denomination as requested by such Holder in aggregate principal
amount equal to, and in exchange for, the unredeemed portion of the principal of the Security so surrendered that is not redeemed. 

        SECTION 3.08    Purchase of Securities.    

        Unless
otherwise specified as contemplated by Section 2.01, the Partnership, the Guarantor, any Subsidiary Guarantor and any Affiliate of the Partnership, the Guarantor or any
Subsidiary Guarantor may, subject to applicable law, at any time purchase or otherwise acquire Securities in the open market or by private agreement. Any such acquisition shall not operate as or be
deemed for any purpose to be a redemption of the indebtedness represented by such Securities. Any Securities purchased or acquired by the Partnership, the Guarantor or a Subsidiary Guarantor may be
delivered to the Trustee and, upon such delivery, the indebtedness represented thereby shall be deemed to be satisfied. Section 2.13 shall apply to all Securities so delivered. 

        SECTION 3.09    Mandatory and Optional Sinking Funds.    

        The
minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a "mandatory sinking fund payment," and any payment in
excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an "optional sinking fund payment." Unless otherwise provided 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 3.10. 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 by this Article III. 

18

 

        SECTION 3.10    Satisfaction of Sinking Fund Payments with Securities.    

        The
Partnership, the Guarantor or a Subsidiary Guarantor may deliver outstanding Securities of a series (other than any previously called for redemption) and may apply as a credit
Securities of a series that have been redeemed either at the election of the Partnership pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments
pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the
terms of such series of Securities; provided that such Securities have not been previously so credited. Such Securities shall be received and credited
for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced
accordingly. 

        SECTION 3.11    Redemption of Securities for Sinking Fund.    

        Not
less than 45 days prior (unless a shorter period shall be satisfactory to the Trustee) to each sinking fund payment date for any series of Securities, the Partnership will
deliver to the Trustee an Officers' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to
the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivery of or by crediting Securities
of that series pursuant to Section 3.10 and will also deliver or cause to be delivered to the Trustee any Securities to be so delivered. Failure of the Partnership to timely deliver or cause to
be delivered such Officers' Certificate and Securities specified in this paragraph, if any, shall not constitute a default but shall constitute the election of the Partnership (i) that the
mandatory sinking fund payment for such series due on the next succeeding sinking fund payment date shall be paid entirely in cash without the option to deliver or credit Securities of such series in
respect thereof and (ii) that the Partnership will make no optional sinking fund payment with respect to such series as provided in this Section 3.11. 

        If
the sinking fund payment or payments (mandatory or optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding
sinking fund payments made in cash shall exceed $100,000 (or the Dollar equivalent thereof based on the applicable Exchange Rate on the date of original issue of the applicable Securities) or a lesser
sum if the Partnership shall so request with respect to the Securities of any particular series, such cash shall be applied on the next succeeding sinking fund payment date to the redemption of
Securities of such series at the sinking fund redemption price together with accrued interest to the date fixed for redemption. If such amount shall be $100,000 (or the Dollar equivalent thereof as
aforesaid) or less and the Partnership makes no such request then it shall be carried over until a sum in excess of $100,000 (or the Dollar equivalent thereof as aforesaid) is available. Not less than
30 days before each such sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.03 and
cause notice of the redemption thereof to be given in the name of and at the expense of the Partnership in the manner provided in Section 3.04. Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.05, 3.06 and 3.07. 

 
 

ARTICLE IV
  COVENANTS    
    

        SECTION 4.01    Payment of Securities.    

        The
Partnership shall pay the principal of, premium (if any) and interest on and any Additional Amounts with respect to the Securities of each series on the dates and in the manner
provided in the Securities of such series and in this Indenture. Principal, premium, interest and any Additional Amounts shall be considered paid on the date due if the Paying Agent (other than the
Partnership, the 

19

 

Guarantor,
a Subsidiary Guarantor or a Subsidiary) holds on that date money deposited by the Partnership, the Guarantor or a Subsidiary Guarantor designated for and sufficient to pay all principal,
premium, interest and any Additional Amounts then due. 

        The
Partnership shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium (if any), at a rate equal to
the then applicable interest rate on the Securities to the extent lawful; and it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
installments of interest and any Additional Amount (without regard to any applicable grace period) at the same rate to the extent lawful. 

        SECTION 4.02    Maintenance of Office or Agency.    

        The
Partnership will maintain in each Place of Payment for any series of Securities an office or agency (which may be an office of the Trustee, the Registrar or the Paying Agent) where
Securities of that series may be presented for registration of transfer or exchange, where Securities of that series may be presented for payment and where notices and demands to or upon the
Partnership, the Guarantor or a Subsidiary Guarantor in respect of the Securities of that series and this Indenture may be served. Unless otherwise designated by the Partnership by written notice to
the Trustee, the Guarantor and the Subsidiary Guarantors, such office or agency shall be the office of the Trustee in The City of New York, which on the date hereof is located
at                        . The
Partnership will give prompt written notice to the Trustee, the Guarantor and the Subsidiary Guarantors of the location, and any change in the location, of such office or agency. If at any time the
Partnership shall fail to maintain any such required office or agency or shall fail to furnish the Trustee, the Guarantor and the Subsidiary Guarantors with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. 

        The
Partnership 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
Partnership of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Partnership will give prompt written notice to the Trustee of
any such designation or rescission and of any change in the location of any such other office or agency. 

        SECTION 4.03    SEC Reports; Financial Statements.    

        (a)   If
the Partnership, the Guarantor or a Subsidiary Guarantor is subject to the requirements of Section 13 or 15(d) of the Exchange Act, the Partnership, the
Guarantor or such Subsidiary Guarantor, as the case may be, shall file with the Trustee, within 15 days after it files the same with the SEC, copies of the annual reports and the information,
documents and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) that the Partnership, the Guarantor or such Subsidiary Guarantor is
required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. If this Indenture is qualified under the TIA, but not otherwise, the Partnership, the Guarantor and the
Subsidiary Guarantors shall also comply with the provisions of TIA § 314(a). Delivery of such reports, information and documents to the Trustee shall be for informational purposes only,
and the Trustee's receipt thereof shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Partnership's
compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers' Certificates or certificates delivered pursuant to Section 4.04). 

        (b)   If
neither the Partnership, the Guarantor nor any Subsidiary Guarantor is subject to the requirements of Section 13 or 15(d) of the Exchange Act, the Partnership,
the Guarantor and the Subsidiary Guarantors shall furnish to all Holders of Rule 144A Securities and prospective purchasers 

20

 

of
Rule 144A Securities designated by the Holders of Rule 144A Securities, promptly upon their request, the information required to be delivered pursuant to Rule 144A(d)(4)
promulgated under the Securities Act of 1933, as amended. 

        SECTION 4.04    Compliance Certificate.    

        (a)   Each
of the Partnership, the Guarantor and the Subsidiary Guarantors shall deliver to the Trustee, within 120 days after the end of each fiscal year, a statement
signed by an Officer of the General Partner, which need not constitute an Officers' Certificate, complying with TIA § 314(a)(4) and stating that in the course of performance by the signing
Officer of his duties as such Officer of the General Partner, he would normally obtain knowledge of the keeping, observing, performing and fulfilling by the Partnership, the Guarantor or such
Subsidiary Guarantor, as the case may be, of its obligations under this Indenture, and further stating that to the best of his knowledge the Partnership, the Guarantor or such Subsidiary Guarantor, as
the case may be, has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions
and conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which such Officer may have knowledge and what action the
Partnership, the Guarantor or such Subsidiary Guarantor, as the case may be, is taking or proposes to take with respect thereto). 

        (b)   The
Partnership, the Guarantor or any Subsidiary Guarantor shall, so long as Securities of any series are outstanding, deliver to the Trustee, forthwith upon any Officer
of the General Partner, becoming aware of any Default or Event of Default under this Indenture, an Officers' Certificate specifying such Default or Event of Default and what action the Partnership,
the Guarantor or such Subsidiary Guarantor, as the case may be, is taking or proposes to take with respect thereto. 

        SECTION 4.05    Existence.    

        Subject
to Article V, each of the Partnership, the Guarantor and the Subsidiary Guarantors shall do or cause to be done all things necessary to preserve and keep in full force and
effect its existence. 

        SECTION 4.06    Waiver of Stay, Extension or Usury Laws.    

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

        SECTION 4.07    Additional Amounts.    

        If
the Securities of a series expressly provide for the payment of Additional Amounts, the Partnership will pay to the Holder of any Security of such series Additional Amounts as
expressly provided therein. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of or any premium or interest on, or in respect of, any Security of any series
or the net proceeds received from the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment of Additional Amounts provided for in this
Section 4.07 to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section 4.07 and express mention
of the payment of Additional 

21

 

Amounts
(if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made. 

 
 

ARTICLE V
  SUCCESSORS    
    

        SECTION 5.01    Limitations on Mergers and Consolidations.    

        Neither
the Partnership, the Guarantor nor any Subsidiary Guarantor shall, in any transaction or series of transactions, consolidate with or merge into any Person, or sell, lease,
convey, transfer or otherwise dispose of all or substantially all of its assets to any Person (other than a consolidation or merger of the Partnership and the Guarantor, the Partnership and a
Subsidiary Guarantor, the Guarantor and a Subsidiary Guarantor or of the Subsidiary Guarantors, or a sale, lease, conveyance, transfer or other disposition of all or substantially all of the assets of
the Partnership to the Guarantor, the Guarantor to the Partnership, the Partnership to a Subsidiary Guarantor, a Subsidiary Guarantor to the Partnership, the Guarantor to a Subsidiary Guarantor, a
Subsidiary Guarantor to the Guarantor or of a Subsidiary Guarantor to another Subsidiary Guarantor), unless: 

        (1)   either
(a) the Partnership, the Guarantor or such Subsidiary Guarantor, as the case may be, shall be the continuing Person or (b) the Person (if other than
the Partnership, the Guarantor or such Subsidiary Guarantor) formed by such consolidation or into which the Partnership, the Guarantor or such Subsidiary Guarantor is merged, or to which such sale,
lease, conveyance, transfer or other disposition shall be made (collectively, the "Successor"), is organized and validly existing under the laws of the United States, any political subdivision thereof
or any State thereof or the District of Columbia, and expressly assumes by supplemental indenture, in the case of the Partnership, the due and punctual payment of the principal of, premium (if any)
and interest on and any Additional Amounts with respect to all the Securities and the performance of the Partnership's covenants and obligations under this Indenture and the Securities, or, in the
case of the Guarantor or such Subsidiary Guarantor, the performance of the Guarantee and the Guarantor's or such Subsidiary Guarantor's covenants and obligations under this Indenture and the
Securities; 

        (2)   immediately
after giving effect to such transaction or series of transactions, no Default or Event of Default shall have occurred and be continuing or would result
therefrom; and 

        (3)   the
Partnership, the Guarantor or such Subsidiary Guarantor, as the case may be, delivers to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating
that the transaction and such supplemental indenture comply with this Indenture. 

        SECTION 5.02    Successor Person Substituted.    

        Upon
any consolidation or merger of the Partnership, the Guarantor or a Subsidiary Guarantor, as the case may be, or any sale, lease, conveyance, transfer or other disposition of all or
substantially all of the assets of the Partnership, the Guarantor or such Subsidiary Guarantor in accordance with Section 5.01, the Successor formed by such consolidation or into or with which
the Partnership, the Guarantor or such Subsidiary Guarantor is merged or to which such sale, lease, conveyance, transfer or other disposition is made shall succeed to, and be substituted for, and may
exercise every right and power of the Partnership, the Guarantor or such Subsidiary Guarantor, as the case may be, under this Indenture and the Securities with the same effect as if such Successor had
been named as the Partnership, the Guarantor or such Subsidiary Guarantor, as the case may be, herein and the predecessor Partnership, Guarantor or Subsidiary Guarantor, in the case of a sale,
conveyance, transfer or other disposition, shall be released from all obligations under this Indenture, the Securities and, in the case of the Guarantor and a Subsidiary Guarantor, the Guarantee. 

22

 

 
 

ARTICLE VI
  DEFAULTS AND REMEDIES    
    

        SECTION 6.01    Events of Default.    

        Unless
either inapplicable to a particular series or specifically deleted or modified in or pursuant to the supplemental indenture or Board Resolution establishing such series of
Securities or in the form of Security for such series, an "Event of Default," wherever used herein with respect to Securities of any series, occurs if: 

        (1)   there
is a default in the payment of interest on or any Additional Amounts with respect to any Security of that series when the same becomes due and payable and such
default continues for a period of 30 days; 

        (2)   there
is a default in the payment of the principal of or premium, if any, on any Securities of that series as and when the same shall become due and payable, whether at
Stated Maturity, upon redemption, by declaration, upon required repurchase or otherwise; 

        (3)   there
is a default in the payment of any sinking fund payment with respect to any Securities of that series as and when the same shall become due and payable; 

        (4)   there
is a failure on the part of the Partnership or the Guarantor, or if any series of Securities outstanding under this Indenture is entitled to the benefits of a
Guarantee by the Subsidiary Guarantors, any of the Subsidiary Guarantors, duly to observe or perform any other of the covenants or agreements on the part of the Partnership, the Guarantor, or if
applicable, any of the Subsidiary Guarantors, in the Securities of that series, in any resolution of the Board of Directors authorizing the issuance of that series of Securities, in this Indenture
with respect to such series or in any supplemental Indenture with respect to such series (other than a default in the performance of a covenant which is specifically dealt with elsewhere in this
Section 6.01), continuing for a period of 60 days after the date on which written notice specifying such failure and requiring the Partnership, the Guarantor, or if applicable, the
Subsidiary Guarantors, to remedy the same shall have been given, by registered or certified mail, to the Partnership, the Guarantor, or if applicable, the Subsidiary Guarantors, by the Trustee or to
the Partnership, the Guarantor, or if applicable, the Subsidiary Guarantors, and the Trustee by the Holders of at least 25% in aggregate principal amount of the Securities of that series at the time
outstanding; 

        (5)   the
Partnership or the Guarantor, or if any series of Securities outstanding under this Indenture is entitled to the benefits of a Guarantee by the Subsidiary
Guarantors, any of the Subsidiary Guarantors, pursuant to or within the meaning of any Bankruptcy Law: 

        (A)  commences
a voluntary case, 

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

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

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

        (6)   a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law that remains unstayed and in effect for 60 days and that: 

        (A)  is
for relief against the Partnership, the Guarantor or any Subsidiary Guarantor as debtor in an involuntary case, 

        (B)  appoints
a Bankruptcy Custodian of the Partnership, the Guarantor or any Subsidiary Guarantor or a Bankruptcy Custodian for all or substantially all of the property of
the Partnership, the Guarantor or any Subsidiary Guarantor, or 

23

  

        (C)  orders
the liquidation of the Partnership, the Guarantor or any Subsidiary Guarantor; 

        (7)   the
Guarantee of the Guarantor or, if any series of Securities outstanding under this Indenture is entitled to the benefits of a Guarantee by the Subsidiary Guarantors,
any of the Subsidiary Guarantors cases to be in full force and effect with respect to Securities of that series (except as otherwise provided in this Indenture) or is declared null and voice in a
judicial proceeding or the Guarantor or any of the Subsidiary Guarantors (if applicable) denies or disaffirms its obligations under this Indenture or such Guarantee; or 

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

        The
term "Bankruptcy Custodian" means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

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

        When
a Default is cured, it ceases. 

        Notwithstanding
the foregoing provisions of this Section 6.01, if the principal of, premium (if any) or interest on or Additional Amounts with respect to any Security is payable
in a currency or currencies (including a composite currency) other than Dollars and such currency or currencies are not available to the Partnership, the Guarantor or a Subsidiary Guarantor for making
payment thereof due to the imposition of exchange controls or other circumstances beyond the control of the Partnership, the Guarantor or such Subsidiary Guarantor (a "Conversion Event"), each of the
Partnership, the Guarantor and the Subsidiary Guarantors will be entitled to satisfy its obligations to Holders of the Securities by making such payment in Dollars in an amount equal to the Dollar
equivalent of the amount payable in such other currency, as determined by the Partnership, the Guarantor or the Subsidiary Guarantor making such payment, as the case may be, by reference to the
Exchange Rate on the date of such payment, or, if such rate is not then available, on the basis of the most recently available Exchange Rate. Notwithstanding the foregoing provisions of this
Section 6.01, any payment
made under such circumstances in Dollars where the required payment is in a currency other than Dollars will not constitute an Event of Default under this Indenture. 

        Promptly
after the occurrence of a Conversion Event, the Partnership, the Guarantor or a Subsidiary Guarantor shall give written notice thereof to the Trustee; and the Trustee, promptly
after receipt of such notice, shall give notice thereof in the manner provided in Section 11.02 to the Holders. Promptly after the making of any payment in Dollars as a result of a Conversion
Event, the Partnership, the Guarantor or the Subsidiary Guarantor making such payment, as the case may be, shall give notice in the manner provided in Section 11.02 to the Holders, setting
forth the applicable Exchange Rate and describing the calculation of such payments. 

        A
Default under clause (4) or (8) of this Section 6.01 is not an Event of Default until the Trustee notifies the Partnership, the Guarantor and the Subsidiary
Guarantors, or the Holders of at least 25% in principal amount of the then outstanding Securities of the series affected by such Default (or, in the case of a Default under clause (4) of this
Section 6.01, if outstanding Securities of other series are affected by such Default, then at least 25% in principal amount of the then outstanding Securities so affected) notify the
Partnership, the Guarantor, the Subsidiary Guarantors and the Trustee, of the Default, and the Partnership, the Guarantor or the applicable Subsidiary Guarantor, as the case may be, fails to cure the
Default within 60 days after receipt of the notice. The notice must specify the Default, demand that it be remedied and state that the notice is a "Notice of Default." 

24

 

        SECTION 6.02    Acceleration.    

        If
an Event of Default with respect to any Securities of any series at the time outstanding (other than an Event of Default specified in clause (5) or (6) of
Section 6.01) occurs and is continuing, the Trustee by notice to the Partnership, the Guarantor and the Subsidiary Guarantors, or the Holders of at least 25% in principal amount of the then
outstanding Securities of the series affected by such Event of Default (or, in the case of an Event of Default described in clause (4) of Section 6.01, if outstanding Securities of other
series are affected by such Event of Default, then at least 25% in principal amount of the then outstanding Securities so affected) by notice to the Partnership, the Guarantor, the Subsidiary
Guarantors and the Trustee, may declare the principal of (or, if any such Securities are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of
that series) and all accrued and unpaid interest on all then outstanding Securities of such series or of all series, as the case may be, to be due and payable. Upon any such declaration, the amounts
due and payable on the Securities shall be due and payable immediately. If an Event of Default specified in clause (5) or (6) of Section 6.01 hereof occurs, such amounts shall  ipso facto
become and be immediately due and payable without any declaration, notice or other act on the part of the Trustee or any Holder. The Holders
of a majority in principal amount of the then outstanding Securities of the series affected by such Event of Default or all series, as the case may be, by written notice to the Trustee may rescind an
acceleration and its consequences (other than nonpayment of principal of or premium or interest on or any Additional Amounts with respect to the Securities) if the rescission would not conflict with
any
judgment or decree and if all existing Events of Default with respect to Securities of that series (or of all series, as the case may be) have been cured or waived, except nonpayment of principal,
premium, interest or any Additional Amounts that has become due solely because of the acceleration. 

        SECTION 6.03    Other Remedies.    

        If
an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal of, or premium, if any, or interest on the Securities or
to enforce the performance of any provision of the Securities or this Indenture. 

        The
Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any
Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law. 

        SECTION 6.04    Waiver of Defaults.    

        Subject
to Sections 6.07 and 9.02, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all series (acting as one class) by notice
to the Trustee may waive an existing or past Default or Event of Default with respect to such series or all series, as the case may be, and its consequences (including waivers obtained in connection
with a tender offer or exchange offer for Securities of such series or all series or a solicitation of consents in respect of Securities of such series or all series,  provided that in each case such
offer or solicitation is made to all Holders of then outstanding Securities of such series or all series (but the terms
of such offer or solicitation may vary from series to series)), except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or interest on or any
Additional Amounts with respect to any Security or (2) a continued Default in respect of a provision that under Section 9.02 cannot be amended or supplemented without the consent of each
Holder 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. 

25

 

        SECTION 6.05    Control by Majority.    

        With
respect to Securities of any series, the Holders of a majority in principal amount of the then outstanding Securities of such series may direct in writing the time, method and place
of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it relating to or arising under an Event of Default described in clause (1),
(2), (3) or (7) of Section 6.01, and with respect to all Securities, the Holders of a majority in principal amount of all the then outstanding Securities affected may direct in
writing the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it not relating to or arising under such an Event
of Default. However, the Trustee may refuse to follow any direction that conflicts with applicable law or this Indenture, that the Trustee determines may be unduly prejudicial to the rights of other
Holders, or that may involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the
Trustee that is not inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion from Holders
directing the Trustee against all losses and expenses caused by taking or not taking such action. 

        SECTION 6.06    Limitations on Suits.    

        Subject
to Section 6.07 hereof, a Holder of a Security of any series may pursue a remedy with respect to this Indenture or the Securities of such series only if: 

        (1)   the
Holder gives to the Trustee written notice of a continuing Event of Default with respect to such series; 

        (2)   the
Holders of at least 25% in principal amount of the then outstanding Securities of such series make a written request to the Trustee to pursue the remedy; 

        (3)   such
Holder or Holders offer to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense; 

        (4)   the
Trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and 

        (5)   during
such 60-day period the Holders of a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent
with the request. 

        A
Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. 

        SECTION 6.07    Rights of Holders to Receive Payment.    

        Notwithstanding
any other provision of this Indenture, the right of any Holder of a Security to receive payment of principal of and premium, if any, and interest on and any Additional
Amounts with respect to the Security, on or after the respective due dates expressed in the Security, or to bring suit for the enforcement of any such payment on or after such respective dates, is
absolute and unconditional and shall not be impaired or affected without the consent of the Holder. 

        SECTION 6.08    Collection Suit by Trustee.    

        If
an Event of Default specified in clause (1) or (2) of Section 6.01 hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name
and as trustee of an express trust against the Partnership, the Guarantor or a Subsidiary Guarantor for the amount of principal, premium (if any), interest and any Additional Amounts remaining unpaid
on the Securities of the series affected by the Event of Default, and interest on overdue principal and premium, if any, and, to the extent lawful, interest on overdue interest, and such further
amount as shall be sufficient to cover 

26

 

the
costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

        SECTION 6.09    Trustee May File Proofs of Claim.    

        The
Trustee is authorized to file such proofs of claim and other papers or documents and to take such actions, including participating as a member, voting or otherwise, of any committee
of creditors, as may be necessary or advisable to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel) and the Holders allowed in any judicial proceedings relative to the Partnership, the Guarantor or a Subsidiary Guarantor or their respective creditors or properties and shall be entitled
and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any Bankruptcy Custodian in any such judicial proceeding is hereby authorized
by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it
for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07. To the extent that the
payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 out of the estate in any
such proceeding, shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other
properties which the Holders of the Securities may be entitled to receive in such proceeding whether in liquidation or under any plan of
reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any
such proceeding. 

        SECTION 6.10    Priorities.    

        If
the Trustee collects any money pursuant to this Article VI, it shall pay out the money in the following order: 

        First:
to the Trustee for amounts due under Section 7.07; 

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

        Third:
to the Partnership. 

        The
Trustee, upon prior written notice to the Partnership, may fix record dates and payment dates for any payment to Holders pursuant to this Article VI. 

        To
the fullest extent allowed under applicable law, if for the purpose of obtaining a judgment against the Partnership, the Guarantor or a Subsidiary Guarantor in any court it is
necessary to convert the sum due in respect of the principal of, premium (if any) or interest on or Additional Amounts with respect to the Securities of any series (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 Required Currency with the Judgment Currency on the Business Day in The City of New York next preceding that on which final judgment is given. Neither the Partnership, the
Guarantor, any Subsidiary Guarantor nor the Trustee shall be liable for any shortfall nor shall it benefit from any windfall in 

27

 

payments
to Holders of Securities under this Section 6.10 caused by a change in exchange rates between the time the amount of a judgment against it is calculated as above and the time the
Trustee converts the Judgment Currency into the Required Currency to make payments under this Section 6.10 to Holders of Securities, but payment of such judgment shall discharge all amounts
owed by the Partnership, the Guarantor and the Subsidiary Guarantors on the claim or claims underlying such judgment. 

        SECTION 6.11    Undertaking for Costs.    

        In
any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a trustee, a court in its
discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable
attorneys' fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to
a suit by the Trustee, a suit by a Holder pursuant to Section 6.07, or a suit by a Holder or Holders of more than 10% in principal amount of the then outstanding Securities of any series. 

 
 

ARTICLE VII
  TRUSTEE    
    

        SECTION 7.01    Duties of Trustee.    

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

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

        (1)   the
Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into
this Indenture against the Trustee; and 

        (2)   in
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee shall examine such certificates and opinions to determine whether, on their
face, they appear to conform to the requirements of this Indenture. 

        (c)   The
Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 

        (1)   this
paragraph does not limit the effect of Section 7.01(b); 

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

        (3)   the
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to
Section 6.05. 

        (d)   Whether
or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to the provisions of this
Section 7.01. 

28

 

        (e)   No
provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability. The Trustee may refuse to perform any duty or exercise
any right or power unless it receives indemnity satisfactory to it against any loss, liability or expense. 

        (f)    The
Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Partnership, the Guarantor and the
Subsidiary Guarantors. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. All money received by the Trustee shall, until applied as herein
provided, be held in trust for the payment of the principal of, premium (if any) and interest on and Additional Amounts with respect to the Securities. 

        SECTION 7.02    Rights of Trustee.    

        (a)   The
Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not
investigate any fact or matter stated in the document. 

        (b)   Before
the Trustee acts or refrains from acting, it may require instruction, an Officers' Certificate or an Opinion of Counsel or both to be provided. The Trustee shall
not be liable for any action it takes or omits to take in good faith in reliance on such instruction, Officers' Certificate or Opinion of Counsel. The Trustee may consult at the Partnership's expense
with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it
hereunder in good faith and in reliance thereon. 

        (c)   The
Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. 

        (d)   The
Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers conferred upon
it by this Indenture. 

        (e)   Unless
otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Partnership, the Guarantor or any Subsidiary Guarantor shall
be sufficient if signed by an Officer of the General Partner. 

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

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

        (h)   The
Trustee may request that the Partnership deliver an Officers' Certificate setting forth the names of individuals and/or titles of officers authorized at such time to
take specified actions pursuant to this Indenture, which Officers' Certificate may be signed by any person authorized to sign an Officers' Certificate, including any person specified as so authorized
in any such certificate previously delivered and not superseded. 

29

  

        SECTION 7.03    May Hold Securities.    

        The
Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Partnership, the Guarantor, any Subsidiary Guarantor or
any of their respective Affiliates with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights and duties. However, the Trustee is subject to
Sections 7.10 and 7.11. 

        SECTION 7.04    Trustee's Disclaimer.    

        The
Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Partnership's use of the proceeds from the
Securities or any money paid to the Partnership, the Guarantor or any Subsidiary Guarantor or upon the Partnership's, the Guarantor's or such Subsidiary Guarantor's direction under any provision
hereof, it shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee and it shall not be responsible for any statement or recital herein or
any statement in the Securities other than its certificate of authentication. 

        SECTION 7.05    Notice of Defaults.    

        If
a Default or Event of Default with respect to the Securities of any series occurs and is continuing and it is known to the Trustee, the Trustee shall mail to Holders of Securities of
such series a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium (if any)
and interest on and Additional Amounts or any sinking fund installment with respect to the Securities of such series, the Trustee may withhold the notice if and so long as a committee of its
Responsible Officers in good faith determines that withholding the notice is in the interests of Holders of Securities of such series. 

        SECTION 7.06    Reports by Trustee to Holders.    

        Within
60 days after each September 15 of each year after the execution of this Indenture, the Trustee shall mail to Holders of a series, the Guarantor, the Subsidiary
Guarantors and the Partnership a brief report dated as of such reporting date that complies with TIA § 313(a); provided,
however,
that if no event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date with respect to a series, no report need be transmitted to
Holders of such series. The Trustee also shall comply with TIA § 313(b). The Trustee shall also transmit by mail all reports if and as required by
TIA §§ 313(c) and 313(d). 

        A
copy of each report at the time of its mailing to Holders of a series of Securities shall be filed by the Partnership, the Guarantor or a Subsidiary Guarantor with the SEC and each
securities exchange, if any, on which the Securities of such series are listed. The Partnership shall notify the Trustee if and when any series of Securities is listed on any securities exchange. 

        SECTION 7.07    Compensation and Indemnity.    

        The
Partnership agrees to pay to the Trustee for its acceptance of this Indenture and services hereunder such compensation as the Partnership and the Trustee shall from time to time
agree in writing. The Trustee's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Partnership agrees to reimburse the Trustee upon request for all
reasonable disbursements, advances and expenses incurred by it. Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustee's agents and counsel. 

        The
Partnership hereby indemnifies the Trustee and any predecessor Trustee against any and all loss, liability, damage, claim or expense, including taxes (other than taxes based upon,
measured by or determined by the income of the Trustee), incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, except as set forth in
the next following paragraph. The Trustee shall notify the Partnership, the Guarantor and the Subsidiary Guarantors 

30

 

promptly
of any claim for which it may seek indemnity. The Partnership shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the Partnership
shall pay the reasonable fees and expenses of such counsel. The Partnership need not pay for any settlement made without its consent. 

        The
Partnership shall not be obligated to reimburse any expense or indemnify against any loss or liability incurred by the Trustee through the Trustee's negligence or bad faith. 

        To
secure the payment obligations of the Partnership in this Section 7.07, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the
Trustee, except that held in trust to pay principal of, premium (if any) and interest on and any Additional Amounts with respect to Securities of any series. Such lien and the Partnership's
obligations under this Section 7.07 shall survive the satisfaction and discharge of this Indenture. 

        When
the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(5) or (6) occurs, the expenses and the compensation for the
services are intended to constitute expenses of administration under any Bankruptcy Law. 

        SECTION 7.08    Replacement of Trustee.    

        A
resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this
Section 7.08. 

        The
Trustee may resign and be discharged at any time with respect to the Securities of one or more series by so notifying the Partnership, the Guarantor and the Subsidiary Guarantors.
The Holders of a majority in principal amount of the then outstanding Securities of any series may remove the Trustee with respect to the Securities of such series by so notifying the Trustee, the
Partnership, the Guarantor and the Subsidiary Guarantors. The Partnership may remove the Trustee if: 

        (1)   the
Trustee fails to comply with Section 7.10; 

        (2)   the
Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; 

        (3)   a
Bankruptcy Custodian or public officer takes charge of the Trustee or its property; or 

        (4)   the
Trustee otherwise becomes incapable of acting. 

        If
the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, with respect to the Securities of one or more series, the Partnership shall promptly
appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of
one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series). Within one year after the successor Trustee with
respect to the Securities of any series takes office, the Holders of a majority in principal amount of the Securities of such series then outstanding may appoint a successor Trustee to replace the
successor Trustee appointed by the Partnership. 

        If
a successor Trustee with respect to the Securities of any series does not take office within 30 days after the retiring or removed Trustee resigns or is removed, the retiring
or removed Trustee (at the expense of the Partnership), the Partnership, the Guarantor, any Subsidiary Guarantor or the Holders of at least 10% in principal amount of the then outstanding Securities
of such series may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

31

 

        If
the Trustee with respect to the Securities of a series fails to comply with Section 7.10, any Holder of Securities of such series may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with respect to the Securities of such series. 

        In
case of the appointment of a successor Trustee with respect to all Securities, each such successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee, to the Partnership, to the Guarantor and to the Subsidiary Guarantors. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall
have all the rights, powers and duties of the retiring Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly
transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07. 

        In
case of the appointment of a successor Trustee with respect to the Securities of one or more (but not all) series, the Partnership, the Guarantor, the Subsidiary Guarantors, the
retiring Trustee and each successor Trustee with respect to the Securities of one or more (but not all) series shall execute and deliver an indenture supplemental hereto in which each successor
Trustee shall accept such appointment and that (1) shall confer to each successor Trustee all the rights, powers 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 confirm that all the rights, powers
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.
Nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, and each such Trustee shall be trustee of a trust or trusts hereunder
separate and apart from any trust or trusts hereunder administered by any other such Trustee. Upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring
Trustee shall become effective to the extent provided therein and each such successor Trustee shall have all the rights, powers and duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor Trustee relates. On request of the Partnership or any successor Trustee, such retiring Trustee shall transfer to such successor Trustee
all property held by such retiring Trustee as Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. Such retiring Trustee shall,
however, have the right to deduct its unpaid fees and expenses, including attorneys' fees. 

        Notwithstanding
replacement of the Trustee or Trustees pursuant to this Section 7.08, the obligations of the Partnership under Section 7.07 shall continue for the benefit
of the retiring Trustee or Trustees. 

        SECTION 7.09    Successor Trustee by Merger, etc.    

        Subject
to Section 7.10, if the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the
successor corporation without any further act shall be the successor Trustee; provided, however, that in the case of a transfer of all or substantially
all of its corporate trust business to another corporation, the transferee corporation expressly assumes all of the Trustee's liabilities hereunder. 

        In
case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating
Trustee may adopt such authentication and deliver the Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may
authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it
is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 

32

 

        SECTION 7.10    Eligibility; Disqualification.    

        There
shall at all times be a Trustee hereunder which shall be a corporation or banking association organized and doing business under the laws of the United States, any State thereof or
the District of Columbia and authorized under such laws to exercise corporate trust power, shall be subject to supervision or examination by federal or state (or the District of Columbia) authority
and shall have, or be a subsidiary of a bank or bank holding company having, a combined capital and surplus of at least $50 million as set forth in its most recent published annual report of
condition. 

        The
Indenture shall always have a Trustee who satisfies the requirements of TIA §§ 310(a)(1), 310(a)(2) and 310(a)(5). The Trustee is subject to and
shall comply with the provisions of TIA § 310(b) during the period of time required by this Indenture. Nothing in this Indenture shall prevent the Trustee from filing with
the SEC the application referred to in the penultimate paragraph of TIA § 310(b). 

        SECTION 7.11    Preferential Collection of Claims Against the Partnership, the Guarantor or a Subsidiary
Guarantor.    

        The
Trustee is subject to and shall comply with the provisions of TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has
resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 

 
 

ARTICLE VIII
  DISCHARGE OF INDENTURE    
    

        SECTION
8.01    Termination of the Partnership's, the Guarantor's and the Subsidiary Guarantors' Obligations.    

        (a)   This
Indenture shall cease to be of further effect with respect to the Securities of a series (except that the Partnership's obligations under Section 7.07, the
Trustee's and Paying Agent's obligations under Section 8.03 and the rights, powers, protections and privileges accorded the Trustee under Article VII shall survive), and the Trustee, the
Guarantor and the Subsidiary Guarantors, on demand of the Partnership, shall execute proper instruments acknowledging the satisfaction and discharge of this Indenture with respect to the Securities of
such series, when: 

        (1)   either:

        (A)  all
outstanding Securities of such series theretofore authenticated and issued (other than destroyed, lost or stolen Securities that have been replaced or paid) have
been delivered to the Trustee for cancellation; or 

        (B)  all
outstanding Securities of such series not theretofore delivered to the Trustee for cancellation: 

	(i)
	have
become due and payable, or

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

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

and,
in the case of clause (i), (ii) or (iii) above, the Partnership, the Guarantor or a Subsidiary Guarantor has irrevocably deposited or caused to be deposited with the Trustee
as funds (immediately available to the Holders in the case of clause (i)) in trust for such purpose (x) cash in an amount, or (y) Government Obligations, maturing as to principal
and interest at such times and in such amounts as will ensure the availability of 

33

 

cash
in an amount or (z) a combination thereof, which will be sufficient, in the opinion (in the case of clauses (y) and (z)) of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge the entire indebtedness on the Securities of such series for principal and interest to the date
of such deposit (in the case of Securities which have become due and payable) or for principal, premium, if any, and interest to the Stated Maturity or Redemption Date, as the case may be; or 

        (C)  the
Partnership, the Guarantor and the Subsidiary Guarantors have properly fulfilled such other means of satisfaction and discharge as is specified, as contemplated by
Section 2.01, to be applicable to the Securities of such series; 

        (2)   the
Partnership, the Guarantor or a Subsidiary Guarantor has paid or caused to be paid all other sums payable by them hereunder with respect to the Securities of such
series; and 

        (3)   the
Partnership has delivered to the Trustee an Officers' Certificate stating that all conditions precedent to satisfaction and discharge of this Indenture with respect
to the Securities of such series have been complied with, together with an Opinion of Counsel to the same effect. 

        (b)   Unless
this Section 8.01(b) is specified as not being applicable to Securities of a series as contemplated by Section 2.01, the Partnership may, at its
option, terminate certain of its, the Guarantor's and the Subsidiary Guarantors' respective obligations under this Indenture ("covenant defeasance") with respect to the Securities of a series if: 

        (1)   the
Partnership, the Guarantor or a Subsidiary Guarantor has irrevocably deposited or caused to be irrevocably deposited with the Trustee 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 Securities of such series, (i) money in the currency in
which payment of the Securities of such series is to be made in an amount, or (ii) Government Obligations with respect to such series, maturing as to principal and interest at such times and in
such amounts as will ensure the availability of money in the currency in which payment of the Securities of such series is to be made in an amount or (iii) a combination thereof, that is
sufficient, in the opinion (in the case of clauses (ii) and (iii)) of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee, to pay the principal of and premium (if any) and interest on all Securities of such series on each date that such principal, premium (if any) or interest is due and payable and (at the
Stated Maturity thereof or upon redemption as provided in Section 8.01(e)) to pay all other sums payable by it hereunder; provided that the
Trustee shall have been irrevocably instructed to apply such money and/or the proceeds of such Government Obligations to the payment of said principal, premium (if any) and interest with respect to
the Securities of such series as the same shall become due; 

        (2)   the
Partnership has delivered to the Trustee an Officers' Certificate stating that all conditions precedent to satisfaction and discharge of this Indenture with respect
to the Securities of such series have been complied with, and an Opinion of Counsel to the same effect; 

        (3)   no
Default or Event of Default with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit; 

        (4)   the
Partnership shall have delivered to the Trustee an Opinion of Counsel from a nationally recognized counsel acceptable to the Trustee or a tax ruling to the effect
that the Holders will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of the Partnership's exercise of its option under this Section 8.01(b) and will be
subject to U.S. Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such option had not been exercised; 

34

  

        (5)   the
Partnership, the Guarantor and the Subsidiary Guarantors have complied with any additional conditions specified pursuant to Section 2.01 to be applicable to
the discharge of Securities of such series pursuant to this Section 8.01; and 

        (6)   such
deposit and discharge shall not cause the Trustee to have a conflicting interest as defined in TIA § 310(b). 

        In
such event, this Indenture shall cease to be of further effect (except as set forth in this paragraph), and the Trustee, the Guarantor and the Subsidiary Guarantors, on demand of the
Partnership, shall execute proper instruments acknowledging satisfaction and discharge under this Indenture. However, the Partnership's, the Guarantor's and the Subsidiary Guarantors' respective
obligations in Sections 2.05, 2.06, 2.07, 2.08, 2.09, 4.01, 4.02, 7.07, 7.08, 8.04 and 11.01, the Trustee's and Paying Agent's obligations in Section 8.03 and the rights, powers, protections
and privileges accorded the Trustee under Article VII shall survive until all Securities of such series are no longer outstanding. Thereafter, only the Partnership's obligations in
Section 7.07 and the Trustee's and Paying Agent's obligations in Section 8.03 shall survive with respect to Securities of such series. 

        After
such irrevocable deposit made pursuant to this Section 8.01(b) and satisfaction of the other conditions set forth herein, the Trustee upon request shall acknowledge in
writing the discharge of the Partnership's, the Guarantor's and the Subsidiary Guarantors' obligations under this Indenture with respect to the Securities of such series except for those surviving
obligations specified above. 

        In
order to have money available on a payment date to pay principal of or premium (if any) or interest on the Securities, the Government Obligations shall be payable as to principal or
interest on or before such payment date in such amounts as will provide the necessary money. Government Obligations shall not be callable at the issuer's option. 

        (c)   If
the Partnership, the Guarantor and the Subsidiary Guarantors have previously complied or are concurrently complying with Section 8.01(b) (other than any
additional conditions specified pursuant to Section 2.01 that are expressly applicable only to covenant defeasance) with respect to Securities of a series, then, unless this
Section 8.01(c) is specified as not being applicable to Securities of such series as contemplated by Section 2.01, the Partnership may elect that its, the Guarantor's and the Subsidiary
Guarantors' respective obligations to make payments with respect to Securities of such series be discharged ("legal defeasance"), if: 

        (1)   no
Default or Event of Default under clauses (5) and (6) of Section 6.01 hereof shall have occurred at any time during the period ending on the 91st
day after the date of deposit contemplated by Section 8.01(b) (it being understood that this condition shall not be deemed satisfied until the expiration of such period); 

        (2)   unless
otherwise specified with respect to Securities of such series as contemplated by Section 2.01, the Partnership has delivered to the Trustee an Opinion of
Counsel from a nationally recognized counsel acceptable to the Trustee to the effect referred to in Section 8.01(b)(4) with respect to such legal defeasance, which opinion is based on
(i) a private ruling of the Internal Revenue Service addressed to the Partnership, (ii) a published ruling of the Internal Revenue Service pertaining to a comparable form of transaction
or (iii) a change in the applicable federal income tax law (including regulations) after the date of this Indenture; 

        (3)   the
Partnership, the Guarantor and the Subsidiary Guarantors have complied with any other conditions specified pursuant to Section 2.01 to be applicable to the
legal defeasance of Securities of such series pursuant to this Section 8.01(c); and 

        (4)   the
Partnership has delivered to the Trustee a Partnership Request requesting such legal defeasance of the Securities of such series and an Officers' Certificate stating
that all conditions 

35

 

precedent
with respect to such legal defeasance of the Securities of such series have been complied with, together with an Opinion of Counsel to the same effect. 

        In
such event, the Partnership, the Guarantor and the Subsidiary Guarantors will be discharged from their respective obligations under this Indenture and the Securities of such series to
pay principal of, premium (if any) and interest on, and any Additional Amounts with respect to, Securities of such series, the Partnership's, the Guarantor's and the Subsidiary Guarantors' obligations
under Sections 4.01, 4.02 and 11.01 shall terminate with respect to such Securities, and the entire indebtedness of the Partnership evidenced by such Securities and of the Guarantor and of the
Subsidiary Guarantors evidenced by the related Guarantee shall be deemed paid and discharged. 

        (d)   If
and to the extent additional or alternative means of satisfaction, discharge or defeasance of Securities of a series are specified to be applicable to such series as
contemplated by Section 2.01, each of the Partnership, the Guarantor and the Subsidiary Guarantors may terminate any or all of its obligations under this Indenture with respect to Securities of
a series and any or all of its obligations under the Securities of such series if it fulfills such other means of satisfaction and discharge as may be so specified, as contemplated by
Section 2.01, to be applicable to the Securities of such series. 

        (e)   If
Securities of any series subject to subsections (a), (b), (c) or (d) of this Section 8.01 are to be redeemed prior to their Stated Maturity,
whether pursuant to any optional redemption provisions or in accordance with any mandatory or optional sinking fund provisions, the terms of the applicable trust arrangement shall provide for such
redemption, and the Partnership shall make such arrangements as are reasonably satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the
Partnership. 

        SECTION 8.02    Application of Trust Money.    

        The
Trustee or a trustee satisfactory to the Trustee and the Partnership shall hold in trust money or Government Obligations deposited with it pursuant to Section 8.01 hereof. It
shall apply the deposited money and the money from Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of, premium (if any) and interest
on and any Additional Amounts with respect to the Securities of the series with respect to which the deposit was made. 

        SECTION 8.03    Repayment to Partnership, Guarantor or Subsidiary Guarantor.    

        The
Trustee and the Paying Agent shall promptly pay to the Partnership, the Guarantor or any Subsidiary Guarantor any excess money or Government Obligations (or proceeds therefrom) held
by them at any time upon the written request of the Partnership. 

        Subject
to the requirements of any applicable abandoned property laws, the Trustee and the Paying Agent shall pay to the Partnership upon written request any money held by them for the
payment of principal, premium (if any), interest or any Additional Amounts that remain unclaimed for two years after the date upon which such payment shall have become due. After payment to the
Partnership, Holders entitled to the money must look to the Partnership for payment as general creditors unless an applicable abandoned property law designates another Person, and all liability of the
Trustee and the Paying Agent with respect to such money shall cease. 

        SECTION 8.04    Reinstatement.    

        If
the Trustee or the Paying Agent is unable to apply any money or Government Obligations deposited with respect to Securities of any series in accordance with Section 8.01 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 obligations of the
Partnership, the Guarantor and the Subsidiary Guarantors under this Indenture with respect to the Securities of such series and under the Securities of such series shall be revived and reinstated as
though no deposit had occurred 

36

 

pursuant
to Section 8.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money or Government Obligations in accordance with Section 8.01;  provided, however, that if
the Partnership, the Guarantor or any Subsidiary Guarantor has made any payment of principal of, premium (if any) or interest
on or any Additional Amounts with respect to any Securities because of the reinstatement of its obligations, the Partnership, the Guarantor or such Subsidiary Guarantor, as the case may be, shall be
subrogated to the rights of the Holders of such Securities to receive such payment from the money or Government Obligations held by the Trustee or the Paying Agent. 

 
 

ARTICLE IX
  SUPPLEMENTAL INDENTURES AND AMENDMENTS    
    

        SECTION 9.01    Without Consent of Holders.    

        The
Partnership, the Guarantor, the Subsidiary Guarantors and the Trustee may amend or supplement this Indenture or the Securities or waive any provision hereof or thereof without the
consent of any Holder: 

        (1)   to
cure any ambiguity, omission, defect or inconsistency; 

        (2)   to
comply with Section 5.01; 

        (3)   to
provide for uncertificated Securities in addition to or in place of certificated Securities, or to provide for the issuance of bearer Securities (with or without
coupons); 

        (4)   to
provide any security for, or to add any guarantees of or additional obligors on, any series of Securities or the related Guarantees; 

        (5)   to
comply with any requirement in order to effect or maintain the qualification of this Indenture under the TIA; 

        (6)   to
add to the covenants of the Partnership, the Guarantor or any Subsidiary Guarantor for the benefit of the Holders of all or any series of Securities (and if such
covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series), or to surrender any right or
power herein conferred upon the Partnership, the Guarantor or any Subsidiary Guarantor; 

        (7)   to
add any additional Events of Default with respect to all or any series of the Securities (and, if any Event of Default is applicable to less than all series of
Securities, specifying the series to which such Event of Default is applicable); 

        (8)   to
change or eliminate any of the provisions of this Indenture; provided that any such change or elimination shall become
effective only when there is no outstanding Security of any series created prior to the execution of such amendment or supplemental indenture that is adversely affected in any material respect by such
change in or elimination of such provision; 

        (9)   to
establish the form or terms of Securities of any series as permitted by Section 2.01; 

        (10) 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 Section 8.01; provided, however, that any such action shall not adversely affect the interest of the Holders of Securities
of such series or any other series of Securities in any material respect; or 

        (11) 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 7.08. 

37

 

        Upon
the request of the Partnership, accompanied by a Board Resolution, and upon receipt by the Trustee of the documents described in Section 9.06, the Trustee shall, subject to
Section 9.06, join with the Partnership, the Guarantor and the Subsidiary Guarantors in the execution of any supplemental indenture authorized or permitted by the terms of this Indenture and
make any further appropriate agreements and stipulations that may be therein contained. 

        SECTION 9.02    With Consent of Holders.    

        Except
as provided below in this Section 9.02, the Partnership, the Guarantor, the Subsidiary Guarantors and the Trustee may amend or supplement this Indenture with the written
consent (including consents obtained in connection with a tender offer or exchange offer for Securities of any one or more series or all series or a solicitation of consents in respect of Securities
of any one or more series or all series, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of
each such series (but the terms of such offer or solicitation may vary from series to series)) of the Holders of at least a majority in principal amount of the then outstanding Securities of all
series affected by such amendment or supplement (acting as one class). 

        Upon
the request of the Partnership, accompanied by a Board Resolution, and upon the filing with the Trustee of evidence of the consent of the Holders as aforesaid, and upon receipt by
the Trustee of the documents described in Section 9.06, the Trustee shall, subject to Section 9.06, join with the Partnership, the Guarantor and the Subsidiary Guarantors in the
execution of such amendment or supplemental indenture. 

        It
shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be
sufficient if such consent approves the substance thereof. 

        The
Holders of a majority in principal amount of the then outstanding Securities of one or more series or of all series may waive compliance in a particular instance by the Partnership,
the Guarantor or any Subsidiary Guarantor with any provision of this Indenture with respect to Securities of such series (including waivers obtained in connection with a tender offer or exchange offer
for Securities of such series or a solicitation of consents in respect of Securities of such series, provided that in each case such offer or
solicitation is made to all Holders of then outstanding Securities of such series (but the terms of such offer or solicitation may vary from series to series)). 

        However,
without the consent of each Holder affected, an amendment, supplement or waiver under this Section 9.02 may not: 

        (1)   reduce
the amount of Securities whose Holders must consent to an amendment, supplement or waiver; 

        (2)   reduce
the rate of or change the time for payment of interest, including default interest, on any Security; 

        (3)   reduce
the principal of, any premium on or any mandatory sinking fund payment with respect to, or change the Stated Maturity of, any Security 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 6.02; 

        (4)   reduce
the premium, if any, payable upon the redemption of any Security or change the time at which any Security may or shall be redeemed; 

        (5)   change
any obligation of the Partnership, the Guarantor or any Subsidiary Guarantor to pay Additional Amounts with respect to any Security; 

        (6)   change
the coin or currency or currencies (including composite currencies) in which any Security or any premium, interest or Additional Amounts with respect thereto are
payable; 

38

  

        (7)   impair
the right to institute suit for the enforcement of any payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any
Security pursuant to Sections 6.07 and 6.08, except as limited by Section 6.06; 

        (8)   make
any change in the percentage of principal amount of Securities necessary to waive compliance with certain provisions of this Indenture pursuant to
Section 6.04 or 6.07 or make any change in this sentence of Section 9.02; 

        (9)   modify
the provisions of this Indenture with respect to the subordination of any Security and any related Guarantee in a manner adverse to the Holder thereof; 

        (10) waive
a continuing Default or Event of Default in the payment of principal of, premium (if any) or interest on or Additional Amounts with respect to the Securities; or 

        (11) except
as provided in Section 11.04, release the Guarantor or any Subsidiary Guarantor or modify the Guarantee in any manner adverse to the Holders. 

        An
amendment under this Section 9.02 may not make any change that adversely affects the rights under Article X of any holder of an issue of Senior Indebtedness unless the
holders of the issue pursuant to its terms consent to the change. 

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

        The
right of any Holder to participate in any consent required or sought pursuant to any provision of this Indenture (and the obligation of the Partnership, the Guarantor or any
Subsidiary Guarantor to obtain any such consent otherwise required from such Holder) may be subject to the requirement that such Holder shall have been the Holder of record of any Securities with
respect to which such consent
is required or sought as of a date identified by the Partnership, the Guarantor or such Subsidiary Guarantor in a notice furnished to Holders in accordance with the terms of this Indenture. 

        After
an amendment, supplement or waiver under this Section 9.02 becomes effective, the Partnership shall mail to the Holders of each Security affected thereby a notice briefly
describing the amendment, supplement or waiver. Any failure of the Partnership to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such
amendment, supplement or waiver. 

        SECTION 9.03    Compliance with Trust Indenture Act.    

        Every
amendment or supplement to this Indenture or the Securities shall comply in form and substance with the TIA as then in effect. 

        SECTION 9.04    Revocation and Effect of Consents.    

        Until
an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a
Security that evidences the same debt as the consenting Holder's Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the
consent as to his or her Security or portion of a Security if the Trustee receives written notice of revocation before a date and time therefor identified by the Partnership, the Guarantor or any
Subsidiary Guarantor in a notice furnished to such Holder in accordance with the terms of this Indenture or, if no such date and time shall be identified, the date the amendment, supplement or waiver
becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 

39

 

        The
Partnership, the Guarantor or any Subsidiary Guarantor may, but shall not be obligated to, fix a record date (which need not comply with TIA § 316(c)) for the purpose of
determining the Holders entitled to consent to any amendment, supplement or waiver or to take any other action under this Indenture. If a record date is fixed, then notwithstanding the provisions of
the immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to consent to such amendment,
supplement or waiver or to revoke any consent previously given, whether or not such Persons continue to be Holders after such record date. No consent shall be valid or effective for more than
90 days after such record date unless consents from Holders of the principal amount of Securities required hereunder for such amendment or waiver to be effective shall have also been given and
not revoked within such 90-day period. 

        After
an amendment, supplement or waiver becomes effective, it shall bind every Holder, unless it is of the type described in any of clauses (1) through (9) of
Section 9.02 hereof. In such case, the amendment, supplement or waiver shall bind each Holder who has consented to it and every subsequent Holder that evidences the same debt as the consenting
Holder's Security. 

        SECTION 9.05    Notation on or Exchange of Securities.    

        If
an amendment or supplement changes the terms of an outstanding Security, the Partnership may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an
appropriate notation on the Security at the request of the Partnership regarding the changed terms and return it to the Holder. Alternatively, if the Partnership so determines, the Partnership in
exchange for the Security shall issue, the Guarantor and the Subsidiary Guarantors shall execute and the Trustee shall authenticate a new Security that reflects the changed terms. Failure to make the
appropriate notation or to issue a new Security shall not affect the validity of such amendment or supplement. 

        Securities
of any series authenticated and delivered after the execution of any amendment or supplement 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 amendment or supplement. 

        SECTION 9.06    Trustee to Sign Amendments, etc.    

        The
Trustee shall sign any amendment or supplement authorized pursuant to this Article if the amendment or supplement does not adversely affect the rights, duties, liabilities or
immunities of the Trustee. If it does, the Trustee may, but need not, sign it. In signing or refusing to sign such amendment or supplement, the Trustee shall be entitled to receive, and, subject to
Section 7.01 hereof, shall be fully protected in relying upon, an Officers' Certificate and an Opinion of Counsel provided at the expense of the Partnership, the Guarantor or a Subsidiary
Guarantor as conclusive evidence that such amendment or supplement is authorized or permitted by this Indenture, that it is not inconsistent herewith, and that it will be valid and binding upon the
Partnership, the Guarantor and the Subsidiary Guarantors in accordance with its terms. 

 
 

ARTICLE X
  SUBORDINATION OF SECURITIES AND GUARANTEE    
    

        SECTION 10.01    Applicability of Article; Agreement To Subordinate.    

        The
provisions of this Article X shall only be applicable to the Securities of any series (Securities of such series referred to in this Article X as "Subordinated
Securities") designated, pursuant to Section 2.01, as subordinated to Senior Indebtedness and any related Guarantee of such Subordinated Securities. Each Holder by accepting a Subordinated
Security agrees that the Debt evidenced by such Subordinated Security and any related Guarantee of such Subordinated Security is subordinated in right of payment, to the extent and in the manner
provided in this Article X, to the prior payment of all Senior Indebtedness and that the subordination is for the benefit of and enforceable by the holders of Senior Indebtedness. All
provisions of this Article X shall be subject to Section 10.12. 

40

 

        SECTION 10.02    Liquidation, Dissolution, Bankruptcy.    

        Upon
any payment or distribution of the assets of the Partnership, the Guarantor or the Subsidiary Guarantors, as the case may be, to creditors, upon a liquidation or a dissolution of
the Partnership, the Guarantor or the Subsidiary Guarantors, as the case may be, or in a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Partnership, the
Guarantor or the Subsidiary Guarantors, as the case may be, or their respective property: 

        (a)   holders
of Senior Indebtedness of the Partnership, the Guarantor or any Subsidiary Guarantor, as the case may be, shall be entitled to receive payment in full in cash of
such Senior Indebtedness of such Person (including interest (if any), accruing on or after the commencement of a proceeding in bankruptcy, whether or not allowed as a claim against the Partnership,
the Guarantor or the Subsidiary Guarantors, as the case may be, in such bankruptcy proceeding) before Holders of Subordinated Securities and any related Guarantee shall be entitled to receive any
payment of principal of, or premium, if any, or interest on, the Subordinated Securities from the Partnership, or any payment in respect of any Guarantee from the Guarantor or the Subsidiary
Guarantors; and 

        (b)   until
the Senior Indebtedness of the Partnership, the Guarantor or any Subsidiary Guarantor, as the case may be, is paid in full, any distribution to which Holders of
Subordinated Securities and any related Guarantee would be entitled but for this Article X shall be made to holders of Senior Indebtedness of the Partnership, the Guarantor or the Subsidiary
Guarantors, as the case may be, as their interests may appear, except that such Holders may receive capital stock and any debt securities that are subordinated to Senior Indebtedness of the
Partnership, the Guarantor or the Subsidiary Guarantors, as the case may be, to at least the same extent as the Subordinated Securities of the Partnership or the related Guarantee of the Guarantor or
any Subsidiary Guarantor, respectively. 

        SECTION 10.03    Default on Senior Indebtedness.    

        The
Partnership, the Guarantor and the Subsidiary Guarantors may not pay the principal of, or premium, if any, or interest on, the Subordinated Securities or any related Guarantee or
make any deposit pursuant to Article VIII and may not repurchase, redeem or otherwise retire (except, in the case of Subordinated Securities that provide for a mandatory sinking fund pursuant
to Section 3.11, by the delivery of Subordinated Securities by the Partnership to the Trustee pursuant to the first paragraph of Section 3.11) any Subordinated Securities (collectively,
"pay the Subordinated Securities") if any principal, premium or interest in respect of Senior Indebtedness of such Person is not paid within any applicable grace period (including at maturity) or any
other default on Senior Indebtedness of such Person occurs and the maturity of such Senior Indebtedness is accelerated in accordance with its terms unless, in either case, the default has been cured
or waived and any such acceleration has been rescinded or such Senior Indebtedness has been paid in full in cash; provided, however, that the Partnership, the Guarantor and the Subsidiary Guarantors
may make payments on the Subordinated Securities or any related Guarantee without regard to the foregoing if the Partnership and the Trustee receive written notice approving such payment from the
Representative of each issue of Designated Senior Indebtedness. During the continuance of any other default with respect to any Designated Senior Indebtedness pursuant to which the maturity thereof
may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Partnership, the
Guarantor and the Subsidiary Guarantors may not make payments on the Subordinated Securities or any related Guarantee for a period (a "Payment Blockage Period") commencing upon the receipt by the
Partnership and the Trustee (and if such Designated Senior Indebtedness is Debt of the Guarantor or a Subsidiary Guarantor, the Guarantor or the Subsidiary Guarantor) of written notice of such default
from the Representative of any Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period (a "Blockage Notice") and ending 179 days thereafter (or earlier if such
Payment Blockage Period is terminated by written notice to the Trustee and the Partnership (and if such Designated Senior Indebtedness is Debt of a 

41

 

Subsidiary
Guarantor, the Subsidiary Guarantor) from the Person or Persons who gave such Blockage Notice, by repayment in full in cash of such Designated Senior Indebtedness or because the default
giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in
Section 10.02 and the first sentence of this Section 10.03), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the
maturity of such Designated Senior Indebtedness, the Partnership, the Guarantor and the Subsidiary Guarantors may resume payments on the Subordinated Securities and related Guarantees after such
Payment Blockage Period. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to any number of issues of
Designated Senior Indebtedness during such period, unless otherwise specified pursuant to Section 2.01 for the Subordinated Securities of a series; provided, however, that in no event may the
total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes of this
Section 10.03, no default or event of default which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness
initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Designated Senior Indebtedness,
whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days. 

        SECTION 10.04    Acceleration of Payment of Securities.    

        If
payment of the Subordinated Securities is accelerated because of an Event of Default, the Partnership shall promptly notify the holders of the Designated Senior Indebtedness (or their
Representatives) of the acceleration. 

        SECTION 10.05    When Distribution Must Be Paid Over.    

        If
a distribution is made to Holders of Subordinated Securities or a related Guarantee that because of this Article X should not have been made to them, the Holders who receive
such distribution shall hold it in trust for holders of Senior Indebtedness and pay it over to them as their interests may appear. 

        SECTION 10.06    Subrogation.    

        After
all Senior Indebtedness is paid in full and until the Subordinated Securities are paid in full, Holders thereof shall be subrogated to the rights of holders of Senior Indebtedness
to receive distributions applicable to Senior Indebtedness. A distribution made under this Article X to holders of Senior Indebtedness which otherwise would have been made to Holders of
Subordinated Securities is not, as between the Partnership, the Guarantor or the Subsidiary Guarantors, as the case may be, and such Holders, a payment by the Partnership, the Guarantor or the
Subsidiary Guarantors, as the case may be, on Senior Indebtedness. 

        SECTION 10.07    Relative Rights.    

        This
Article X defines the relative rights of Holders of Subordinated Securities and holders of Senior Indebtedness. Nothing in this Indenture shall: 

        (a)   impair,
as between the Partnership, the Guarantor or the Subsidiary Guarantors, as the case may be, and Holders of either Subordinated Securities or Securities, the
obligation of the Partnership, the Guarantor or the Subsidiary Guarantors, as the case may be, which is absolute and unconditional, to pay principal of, and premium, if any, and interest on, the
Subordinated Securities and the Securities in accordance with their terms; or 

42

 

        (b)   prevent
the Trustee or any Holder of either Subordinated Securities or Securities from exercising its available remedies upon an Event of Default, subject to the rights
of holders of Senior Indebtedness to receive distributions otherwise payable to Holders of Subordinated Securities. 

        SECTION 10.08    Subordination May Not Be Impaired by Partnership.    

        No
right of any holder of Senior Indebtedness to enforce the subordination of the Debt evidenced by the Subordinated Securities and the Guarantee in respect thereof shall be impaired by
any act or failure to act by the Partnership, the Guarantor or the Subsidiary Guarantors or by its failure to comply with this Indenture. 

        SECTION 10.09    Rights of Trustee and Paying Agent.    

        Notwithstanding
Sections 10.02 and 10.03, the Trustee or any paying agent may continue to make payments on Subordinated Securities and shall not be charged with knowledge of the
existence of facts that would prohibit the making of any such payments unless, not less than two Business Days prior to the date of such payment, a responsible officer of the Trustee receives notice
satisfactory to it that payments may not be made under this Article X. The Partnership, the Registrar, any paying agent, a Representative or a holder of Senior Indebtedness may give the notice;
provided, however, that, if an issue of Senior Indebtedness has a Representative, only the Representative may give the notice on behalf of the Holders of the Senior Indebtedness of that issue. 

        The
Trustee in its individual or any other capacity may hold Senior Indebtedness with the same rights it would have if it were not Trustee. The Registrar and any paying agent may do the
same with like rights. The Trustee shall be entitled to all the rights set forth in this Article X with respect to any Senior Indebtedness which may at any time be held by it, to the same
extent as any other holder of Senior Indebtedness; and nothing in Article VII shall deprive the Trustee of any of its rights as such holder. Nothing in this Article X shall apply to
claims of, or payments to, the Trustee under or pursuant to Section 7.07. 

        SECTION 10.10    Distribution or Notice to Representative.    

        Whenever
a distribution is to be made or a notice given to holders of Senior Indebtedness, the distribution may be made and the notice given to their Representative (if any). 

        SECTION 10.11    Article X Not to Prevent Defaults or Limit Right to Accelerate.    

        The
failure to make a payment pursuant to the Subordinated Securities, whether directly or pursuant to the Guarantee, by reason of any provision in this Article X shall not be
construed as preventing the occurrence of a Default. Nothing in this Article X shall have any effect on the right of the Holders or the Trustee to accelerate the maturity of either the
Subordinated Securities or the Securities, as the case may be. 

        SECTION 10.12    Trust Moneys Not Subordinated.    

        Notwithstanding
anything contained herein to the contrary, payments from money or the proceeds of U.S. Government Obligations held in trust under Article VIII by the Trustee for
the payment of principal of, and premium, if any, and interest on, the Subordinated Securities or the Securities shall not be subordinated to the prior payment of any Senior Indebtedness or subject to
the restrictions set forth in this Article X, and none of the Holders thereof shall be obligated to pay over any such amount to the Partnership, the Guarantor, the Subsidiary Guarantors or any
holder of Senior Indebtedness of the Partnership, the Guarantor or the Subsidiary Guarantors or any other creditor of the Partnership, the Guarantor or the Subsidiary Guarantors. 

43

 

        SECTION 10.13    Trustee Entitled to Rely.    

        Upon
any payment or distribution pursuant to this Article X, the Trustee and the Holders shall be entitled to rely upon any order or decree of a court of competent jurisdiction in
which any proceedings of the nature referred to in Section 10.02 are pending, upon a certificate of the liquidating trustee or agent or other Person making such payment or distribution to the
Trustee or to such Holders or upon the Representatives for the holders of Senior Indebtedness for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the
holders of the Senior Indebtedness and other Debt of the Partnership, the Guarantor or the Subsidiary Guarantors, the amount thereof or payable thereon, the amount or amounts paid or distributed
thereon and all other facts pertinent
thereto or to this Article X. In the event that the Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to
participate in any payment or distribution pursuant to this Article X, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of
Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and other facts pertinent to the rights of such Person under this
Article X, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. The
provisions of Sections 7.01 and 7.02 shall be applicable to all actions or omissions of actions by the Trustee pursuant to this Article X. 

        SECTION 10.14    Trustee to Effectuate Subordination.    

        Each
Holder by accepting a Subordinated Security authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the
subordination between the Holders of Subordinated Securities and the holders of Senior Indebtedness as provided in this Article X and appoints the Trustee as
attorney-in-fact for any and all such purposes. 

        SECTION 10.15    Trustee Not Fiduciary for Holders of Senior Indebtedness.    

        The
Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and shall not be liable to any such holders if it shall mistakenly pay over or distribute
to Holders of Subordinated Securities or the Partnership, the Guarantor or the Subsidiary Guarantors or any other Person, money or assets to which any holders of Senior Indebtedness shall be entitled
by virtue of this Article X or otherwise. 

        SECTION 10.16    Reliance by Holders of Senior Indebtedness on Subordination Provisions.    

        Each
Holder by accepting a Subordinated Security acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to
each holder of any Senior Indebtedness, whether such Senior Indebtedness was created or acquired before or after the issuance of the Subordinated Securities, to acquire and continue to hold, or to
continue to hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or
in continuing to hold, such Senior Indebtedness. 

 
 

ARTICLE I
  GUARANTEE    
    

        SECTION 11.01    Guarantee.    

        (a)   Notwithstanding
any provision of this Article XI to the contrary, the provisions of this Article XI relating to the Subsidiary Guarantors shall be
applicable only to, and inure solely to the benefit of, the Securities of any series designated, pursuant to Section 2.01, as entitled to the benefits of the Guarantee of each of the Subsidiary
Guarantors. 

44

  

        (b)   For value received, the Guarantor and each of the Subsidiary Guarantors hereby fully, unconditionally and absolutely guarantees (the "Guarantee") to the Holders and to
the Trustee the due and punctual payment of the principal of, and premium, if any, and interest on the Securities and all other amounts due and payable under this Indenture and the Securities by the
Partnership, when and as such principal, premium, if any, and interest shall become due and payable, whether at the stated maturity or by declaration of acceleration, call for redemption or otherwise,
according to the terms of the Securities and this Indenture, subject to the limitations set forth in Section 11.03, and in the case of the Guarantee of the Subordinated Securities, to the
subordination provisions contained in Article X. 

        (c)   Failing
payment when due of any amount guaranteed pursuant to the Guarantee, for whatever reason, the Guarantor and each of the Subsidiary Guarantors will be jointly and
severally obligated to pay the same immediately, subject, in the case of the Guarantee of the Subordinated Securities, to the subordination provisions contained in Article X. The Guarantee
hereunder (other than the Guarantee of Subordinated Securities) is intended to be a general, unsecured, senior obligation of the Guarantor and each of the Subsidiary Guarantors and will rank pari
passu in right of payment with all Debt of the Guarantor and such Subsidiary Guarantor that is not, by its terms, expressly subordinated in right of payment to the Guarantee. The Guarantor and each of
the Subsidiary Guarantors hereby agrees that its obligations hereunder shall be full, unconditional and absolute, irrespective of the validity, regularity or enforceability of the Securities, the
Guarantee (including the Guarantee of the Guarantor and any Subsidiary Guarantor) or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the
Securities with respect to any provisions hereof or thereof, the recovery of any judgment against the Partnership, the Guarantor or any Subsidiary Guarantor, or any action to enforce the same or any
other circumstances which might otherwise constitute a legal or equitable discharge or defense of the Guarantor or the Subsidiary Guarantors. The Guarantor and each of the Subsidiary Guarantors hereby
agrees that in the event of a default in payment of the principal of, or premium, if any, or interest on the Securities, whether at the Stated Maturity or by declaration of acceleration, call for
redemption or otherwise, legal proceedings may be instituted by the Trustee on behalf of the Holders or, subject to Section 6.06, by the Holders, on the terms and conditions set forth in this
Indenture, directly against the Guarantor and such Subsidiary Guarantor to enforce the Guarantee without first proceeding against the Partnership or any other Subsidiary Guarantor. 

        (d)   The
obligations of the Guarantor and each of the Subsidiary Guarantors under this Article XI shall be as aforesaid full, unconditional and absolute and shall not
be impaired, modified, released or limited by any occurrence or condition whatsoever, including, without limitation, (i) any compromise, settlement, release, waiver, renewal, extension,
indulgence or modification of, or any change in, any of the obligations and liabilities of the Partnership, the Guarantor or any of the Subsidiary Guarantors contained in the Securities or this
Indenture, (ii) any impairment, modification, release or limitation of the liability of the Partnership, the Guarantor, any of the Subsidiary Guarantors or any of their estates in bankruptcy,
or any remedy for the enforcement thereof, resulting from the operation of any present or future provision of any applicable Bankruptcy Law, as amended, or other statute or from the decision of any
court, (iii) the assertion or exercise by the Partnership, the Guarantor, any of the Subsidiary Guarantors or the Trustee of any rights or remedies under the Securities or this Indenture or
their delay in or failure to assert or exercise any such rights or remedies, (iv) the assignment or the purported assignment of any property as security for the Securities, including all or any
part of the rights of the Partnership, the Guarantor or any of the Subsidiary Guarantors under this Indenture, (v) the extension of the time for payment by the Partnership, the Guarantor or any
of the Subsidiary Guarantors of any payments or other sums or any part thereof owing or payable under any of the terms and provisions of the Securities or this Indenture or of the time for performance
by the Partnership, the Guarantor or any of the Subsidiary Guarantors of any other obligations under or arising out of any such terms and provisions or the extension or the renewal of any thereof,
(vi) the modification or amendment (whether material or otherwise) of any duty, agreement or obligation of the Partnership, the Guarantor or any of the Subsidiary Guarantors set forth in this
Indenture, (vii) the 

45

 

voluntary
or involuntary liquidation, dissolution, sale or other disposition of all or substantially all of the assets, marshaling of assets and liabilities, receivership, insolvency, bankruptcy,
assignment for the benefit of creditors, reorganization, arrangement, composition or readjustment of, or other similar proceeding affecting, the Partnership, the Guarantor or any of the Subsidiary
Guarantors or any of their respective assets, or the disaffirmance of the Securities, the Guarantee or this Indenture in any such proceeding, (viii) the release or discharge of the Partnership,
the Guarantor or any of the Subsidiary Guarantors from the performance or observance of any agreement, covenant, term or condition contained in any of such instruments by operation of law,
(ix) the unenforceability of the Securities, the Guarantee or this Indenture or (x) any other circumstances (other than payment in full or discharge of all amounts guaranteed pursuant to
the Guarantee) which might otherwise constitute a legal or equitable discharge of a surety or guarantor. 

        (e)   The
Guarantor and each of the Subsidiary Guarantors hereby (i) waives diligence, presentment, demand of payment, filing of claims with a court in the event of the
merger, insolvency or bankruptcy of the Partnership, the Guarantor or any of the Subsidiary Guarantors and all demands whatsoever, (ii) acknowledges that any agreement, instrument or document
evidencing the Guarantee may be transferred and that the benefit of its obligations hereunder shall extend to each holder of any agreement, instrument or document evidencing the Guarantee without
notice to it and (iii) covenants that the Guarantee will not be discharged except by complete performance of the Guarantee. The Guarantor and each of the Subsidiary Guarantors further agrees
that if at any time all or any part of any payment theretofore applied by any Person to the Guarantee is, or must be, rescinded or returned for any reason whatsoever, including without limitation, the
insolvency, bankruptcy or reorganization of the Partnership, the Guarantor or any of the Subsidiary Guarantors, the Guarantee shall, to the extent that such payment is or must be rescinded or
returned, be deemed to have continued in existence notwithstanding such application, and the Guarantee shall continue to be effective or be reinstated, as the case may be, as though such application
had not been made. 

        (f)    The
Guarantor and each of the Subsidiary Guarantors shall be subrogated to all rights of the Holders and the Trustee against the Partnership in respect of any amounts
paid by the Guarantor or such Subsidiary Guarantor pursuant to the provisions of this Indenture, provided, however, that the Guarantor or such Subsidiary Guarantor shall not be entitled to enforce or
to receive any payments arising out of, or based upon, such right of subrogation until all of the Securities and the Guarantee shall have been paid in full or discharged. 

        SECTION 11.02    Execution and Delivery of Guarantee.    

        To
further evidence the Guarantee set forth in Section 11.01, the Guarantor and each of the Subsidiary Guarantors hereby agrees that a notation relating to such Guarantee,
substantially in the form attached hereto as Annex A, shall be endorsed on each Security entitled to the benefits of the Guarantee authenticated and delivered by the Trustee and executed by either
manual or facsimile signature of an Officer of the General Partner. The Guarantor and each of the Subsidiary Guarantors hereby agrees that the Guarantee set forth in Section 11.01 shall remain
in full force and effect notwithstanding any failure to endorse on each Security a notation relating to the Guarantee. If any Officer of the General Partner whose signature is on this Indenture or a
Security no longer holds that office at the time the Trustee authenticates such Security or at any time thereafter, the Guarantee of such Security shall be valid nevertheless. The delivery of any
Security by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Guarantor and the Subsidiary
Guarantors. 

        The
Trustee hereby accepts the trusts in this Indenture upon the terms and conditions herein set forth. 

46

 

        SECTION 11.03    Limitation on Liability of the Guarantor and the Subsidiary Guarantors.    

        The
Guarantor and by its acceptance hereof each Holder of a Security entitled to the benefits of the Guarantee hereby confirm that it is the intention of all such parties that the
guarantee by the Guarantor pursuant to its Guarantee not constitute a fraudulent transfer or conveyance for purposes of any federal or state law. To effectuate the foregoing intention, the Holders of
a Security entitled to the benefits of the Guarantee and the Guarantor and the Subsidiary Guarantors hereby irrevocably agree that the obligations of the Guarantor under its Guarantee shall be limited
to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of the Guarantor and to any collections from or payments made by or on behalf of any Subsidiary
Guarantor in respect of the obligations of such Subsidiary Guarantor result in the obligations of the Guarantor under the Guarantee not constituting a fraudulent conveyance or fraudulent transfer
under federal or state law. 

        Each
Subsidiary Guarantor and by its acceptance hereof each Holder of a Security entitled to the benefits of the Guarantee hereby confirm that it is the intention of all such parties
that the guarantee by such Subsidiary Guarantor pursuant to its Guarantee not constitute a fraudulent transfer or conveyance for purposes of any federal or state law. To effectuate the foregoing
intention, the Holders of a Security entitled to the benefits of the Guarantee and the Guarantor and the Subsidiary Guarantors hereby irrevocably agree that the obligations of each Subsidiary
Guarantor under its Guarantee shall be limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of such Subsidiary Guarantor and to any collections from
or payments made by or on behalf of the Guarantor or any other Subsidiary Guarantor in respect of the obligations of the Guarantor or such other Subsidiary Guarantor under its Guarantee, result in the
obligations of such Subsidiary Guarantor under the Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal or state law. 

        SECTION 11.04    Release of Guarantor or Subsidiary Guarantors from Guarantee.    

        (a)   Notwithstanding
any other provisions of this Indenture, the Guarantee of the Guarantor or any Subsidiary Guarantor may be released upon the terms and subject to the
conditions set forth in this Section 11.04. Provided that no Default shall have occurred and shall be continuing under this Indenture, any Guarantee incurred by the Guarantor or a Subsidiary
Guarantor pursuant to this Article XI shall be unconditionally released and discharged (i) in the case of a Subsidiary Guarantor, automatically upon (A) any sale, exchange or
transfer, whether by way of merger or otherwise, to any Person that is not an Affiliate of the Partnership, of all of the Partnership's direct or indirect equity interests in such Subsidiary Guarantor
(provided such sale, exchange or transfer is not prohibited by this Indenture) or (B) the merger of such Subsidiary Guarantor into the Partnership, the Guarantor or any other Subsidiary or the
liquidation and dissolution of such Subsidiary Guarantor (in each case to the extent not prohibited by this Indenture) or (ii) in the case of the Guarantor, automatically upon the merger of the
Guarantor into the Partnership or any Subsidiary Guarantor or the liquidation or dissolution of the Guarantor (in each case to the extent not prohibited by this Indenture) or (iii) in the case
of the Guarantor or a Subsidiary Guarantor, following delivery of a written notice of such release or discharge by the Partnership, the Trustee, upon the release or discharge of all guarantees by the
Guarantor or such Subsidiary Guarantor of any Debt of the Partnership other than obligations arising under this Indenture and any Securities issued hereunder, except a discharge or release by or as a
result of payment under such guarantees. 

        (b)   The
Trustee shall deliver an appropriate instrument evidencing any release of the Guarantor or a Subsidiary Guarantor from the Guarantee upon receipt of a written
request of the Partnership accompanied by an Officers' Certificate and an Opinion of Counsel that the Guarantor or the Subsidiary Guarantor, as the case may be, is entitled to such release in
accordance with the provisions of this Indenture. If the Guarantor or any Subsidiary Guarantor is not so released, it shall remain liable 

47

 

for
the full amount of principal of (and premium, if any, on) and interest on the Securities entitled to the benefits of such Guarantee as provided in this Indenture, subject to the limitations of
Section 11.03. 

        SECTION 11.05    Contribution.    

        In
order to provide for just and equitable contribution among the Subsidiary Guarantors and the Guarantor, the Subsidiary Guarantors and the Guarantor hereby agree, inter se, that in the
event any payment or distribution is made by the Guarantor or any Subsidiary Guarantor (a "Funding Guarantor") under its Guarantee, such Funding Guarantor shall be entitled to a contribution from the
Guarantor and each other Subsidiary Guarantor (as applicable) in a pro rata amount based on the net assets of the Guarantor and each Subsidiary Guarantor (including the Funding Guarantor) for all
payments, damages and expenses incurred by that Funding Guarantor in discharging the Partnership's obligations with respect to the Securities or any other Subsidiary Guarantor's or the Guarantor's
obligations with respect to its Guarantee. 

 
 

ARTICLE XII
  MISCELLANEOUS    
    

        SECTION 12.01    Trust Indenture Act Controls.    

        If
any provision of this Indenture limits, qualifies or conflicts with the duties imposed by operation of TIA § 318(c), the imposed duties shall control. 

        SECTION 12.02    Notices.    

        Any
notice or communication by the Partnership, the Guarantor, any Subsidiary Guarantor or the Trustee to the others is duly given if in writing and delivered in person or mailed by
first-class mail (registered or certified, return receipt requested), telex, facsimile or overnight air courier guaranteeing next day delivery, to the other's address: 

If
to the Partnership, the Guarantor or the Subsidiary Guarantors: 

Crosstex
Energy Services, L.P.

2501 Cedar Springs

Dallas, Texas 75201

Attn: William W. Davis

Telephone: (214) 953-9500

Facsimile: 

If
to the Trustee: 

Attn:

Telephone:

Facsimile: 

        The
Partnership, the Guarantor, any Subsidiary Guarantor or the Trustee by notice to the others may designate additional or different addresses for subsequent notices or communications. 

        All
notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery. 

        Any
notice or communication to a Holder shall be mailed by first-class mail, postage prepaid, to the Holder's address shown on the register kept by the Registrar. Failure to mail a
notice or 

48

 

communication
to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 

        If
a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it, except in the case of notice
to the Trustee, it is duly given only when received. 

        If
the Partnership, the Guarantor or a Subsidiary Guarantor mails a notice or communication to Holders, it shall mail a copy to the others and to the Trustee and each Agent at the same
time. 

        All
notices or communications, including without limitation notices to the Trustee, the Partnership, the Guarantor or a Subsidiary Guarantor by Holders, shall be in writing, except as
otherwise set forth herein. 

        In
case by reason of the suspension of regular mail service, or by reason of any other cause, it shall be impossible to mail any notice required by this Indenture, then such method of
notification as shall be made with the approval of the Trustee shall constitute a sufficient mailing of such notice. 

        SECTION 12.03    Communication by Holders with Other Holders.    

        Holders
may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Securities. The Partnership, the
Guarantor, the Subsidiary Guarantors, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 

        SECTION 12.04    Certificate and Opinion as to Conditions Precedent.    

        Upon
any request or application by the Partnership, the Guarantor or a Subsidiary Guarantor to the Trustee to take any action under this Indenture, the Partnership, the Guarantor or such
Subsidiary Guarantor, as the case may be, shall, if requested by the Trustee, furnish to the Trustee at the expense of the Partnership, the Guarantor or such Subsidiary Guarantor, as the case may be: 

        (1)   an
Officers' Certificate (which shall include the statements set forth in Section 12.05) stating that, in the opinion of the signers, all conditions precedent and
covenants, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

        (2)   an
Opinion of Counsel (which shall include the statements set forth in Section 12.05 hereof) stating that, in the opinion of such counsel, all such conditions
precedent and covenants have been complied with. 

        SECTION 12.05    Statements Required in Certificate or Opinion.    

        Each
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA §
314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include: 

        (1)   a
statement that the Person making such certificate or opinion has read such covenant or condition; 

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

        (4)   a
statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with. 

49

 

        SECTION 12.06    Rules by Trustee and Agents.    

        The
Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or the Paying Agent may make reasonable rules and set reasonable requirements for its
functions. 

        SECTION 12.07    Legal Holidays.    

        If
a payment date is a Legal Holiday at a Place of Payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the
intervening period. 

        SECTION 12.08    No Recourse Against Others.    

        A
director, officer, employee, stockholder, partner or other owner of the Partnership, the Guarantor, a Subsidiary Guarantor or the Trustee, as such, shall not have any liability for any
obligations of the Partnership under the Securities, for any obligations of the Guarantor or any Subsidiary Guarantor under the Guarantee, or for any obligations of the Partnership, the Guarantor, any
Subsidiary Guarantor, or the Trustee under this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting a Security waives and
releases all such liability. The waiver and release shall be part of the consideration for the issue of Securities. 

        SECTION 12.09    Governing Law.    

        THIS INDENTURE, THE SECURITIES AND THE GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO
APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS TO THE EXTENT THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

        SECTION 12.10    No Adverse Interpretation of Other Agreements.    

        This
Indenture may not be used to interpret another indenture, loan or debt agreement of the Partnership, the Guarantor, any Subsidiary Guarantor or any Subsidiary. Any such indenture,
loan or debt agreement may not be used to interpret this Indenture. 

        SECTION 12.11    Successors.    

        All
agreements of the Partnership, the Guarantor and each of the Subsidiary Guarantors in this Indenture and the Securities shall bind its successors. All agreements of the Trustee in
this Indenture shall bind its successors. 

        SECTION 12.12    Severability.    

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

        SECTION 12.13    Counterpart Originals.    

        The
parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

        SECTION 12.14    Table of Contents, Headings, etc.    

        The
table of contents, cross-reference table and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a
part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 

50

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

	 	 	CROSSTEX ENERGY SERVICES, L.P.
	

 	
 	

By:	
 	

Crosstex Operating GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

CROSSTEX ENERGY, L.P.
	

 	
 	

By:	
 	

Crosstex Energy GP, L.P.,

its General Partner
	

 	
 	

 	
 	

By:	
 	

Crosstex Energy GP, LLC,

its General Partner
	

 	
 	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	 	 	

	

 	
 	

 	
 	

 	
 	

Name:	
 	

William W. Davis
	

 	
 	

 	
 	

 	
 	

Title:	
 	

Executive Vice President, Chief Financial Officer and Treasurer

	

 	
 	

CROSSTEX LIG, LLC
	

 	
 	

By:	
 	

 
	 	 	 	 	

	

 	
 	

Name:	
 	

 
	 	 	 	 	

	

 	
 	

Title:	
 	

 
	 	 	 	 	

	

 	
 	

CROSSTEX TUSCALOOSA, LLC
	

 	
 	

By:	
 	

 
	 	 	 	 	

	

 	
 	

Name:	
 	

 
	 	 	 	 	

	

 	
 	

Title:	
 	

 
	 	 	 	 	

S-1

 

	

 	
 	

CROSSTEX LIG LIQUIDS, LLC
	

 	
 	

By:	
 	

 
	 	 	 	 	

	

 	
 	

Name:	
 	

 
	 	 	 	 	

	

 	
 	

Title:	
 	

 
	 	 	 	 	

	

 	
 	

CROSSTEX TREATING SERVICES, L.P.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

CROSSTEX GULF COAST MARKETING LTD.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

CROSSTEX GULF COAST TRANSMISSION LTD.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

S-2

 

	

 	
 	

CROSSTEX CCNG GATHERING, LTD.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

CROSSTEX CCNG PROCESSING, LTD.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

CROSSTEX CCNG MARKETING, LTD.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

CROSSTEX CCNG TRANSMISSION, LTD.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

S-3

 

	

 	
 	

CROSSTEX ACQUISITION MANAGEMENT, L.P.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

CROSSTEX MISSISSIPPI PIPELINE, L.P.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

CROSSTEX SEMINOLE GAS, L.P.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

CROSSTEX ALABAMA GATHERING SYSTEM, L.P.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

S-4

 

	

 	
 	

CROSSTEX MISSISSIPPI INDUSTRIAL GAS SALES, L.P.
	

 	
 	

By:	
 	

Crosstex Energy Services GP, LLC,

its General Partner
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

[                        ], as Trustee
	

 	
 	

By:	
 	

 
	 	 	 	 	

	

 	
 	

Name:	
 	

 
	 	 	 	 	

	

 	
 	

Title:	
 	

 
	 	 	 	 	

S-5

  

 
 

ANNEX A    
    
    NOTATION OF GUARANTEE    
    

        The Guarantor and each of the Subsidiary Guarantors (which term includes any successor Person under the Indenture), has fully, unconditionally and absolutely
guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture, the due and punctual payment of the principal of, and premium, if any, and interest on the
Securities and all other amounts due and payable under the Indenture and the Securities by the Partnership. 

        The
obligations of the Guarantor and the Subsidiary Guarantors to the Holders of Securities and to the Trustee pursuant to the Guarantee and the Indenture are expressly set forth in
Articles X and XI of the Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

	 	 	CROSSTEX ENERGY, L.P.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy GP, L.P.,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Crosstex Energy GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	 
	 	 	 	 	 	 	 	

	

 	
 	

 	
 	

 	
 	

Name:	

 
	 	 	 	 	 	 	 	

	

 	
 	

 	
 	

 	
 	

Title:	

 
	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX LIG, LLC	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX TUSCALOOSA, LLC
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

A-1

 

	 	 	CROSSTEX LIG LIQUIDS, LLC
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX TREATING SERVICES, L.P.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX GULF COAST MARKETING LTD.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX GULF COAST TRANSMISSION LTD.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

A-2

 

	 	 	CROSSTEX CCNG GATHERING, LTD.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX CCNG PROCESSING, LTD.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX CCNG MARKETING, LTD.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX CCNG TRANSMISSION, LTD.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

A-3

 

	 	 	CROSSTEX ACQUISITION MANAGEMENT, L.P.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX MISSISSIPPI PIPELINE, L.P.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX SEMINOLE GAS, L.P.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	CROSSTEX ALABAMA GATHERING SYSTEM, L.P.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

A-4

 

	 	 	CROSSTEX MISSISSIPPI INDUSTRIAL GAS SALES, L.P.
	 	 	 	 	 	 	 	 
	 	 	By:	 	Crosstex Energy Services GP, LLC,

its General Partner
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Name:	
 	

 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Title:	
 	

 	

 
	 	 	 	 	 	 	

A-5

QuickLinks

Exhibit 4.14

Reconciliation and tie between Trust Indenture Act of 1939 and Indenture, dated as of , 2004

TABLE OF CONTENTS

ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE

ARTICLE II THE SECURITIES

ARTICLE III REDEMPTION

ARTICLE IV COVENANTS

ARTICLE V SUCCESSORS

ARTICLE VI DEFAULTS AND REMEDIES

ARTICLE VII TRUSTEE

ARTICLE VIII DISCHARGE OF INDENTURE

ARTICLE IX SUPPLEMENTAL INDENTURES AND AMENDMENTS

ARTICLE X SUBORDINATION OF SECURITIES AND GUARANTEE

ARTICLE I GUARANTEE

ARTICLE XII MISCELLANEOUS

ANNEX A NOTATION OF GUARANTEEQuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.2    
    

 
 
deCODE genetics, Inc.  

 3.5% Senior Convertible Notes due 2011  

 INDENTURE  

 Dated as of April 14, 2004  

 The Bank of New York  

 TRUSTEE  

CROSS-REFERENCE TABLE (1)  

	Trust Indenture Act Sections
 
	 	Indenture Section

	§ 310	 	(a)(1)	 	7.10
	 	 	(a)(2)	 	7.10
	 	 	(a)(3)	 	Not Applicable
	 	 	(a)(4)	 	Not Applicable
	 	 	(a)(5)	 	7.10
	 	 	(b)	 	7.8; 7.10
	 	 	(c)	 	Not Applicable
	

§ 311	
 	

(a)	
 	

7.11
	 	 	(b)	 	7.11
	 	 	(c)	 	Not Applicable
	

§ 312	
 	

(a)	
 	

2.5
	 	 	(b)	 	10.3
	 	 	(c)	 	10.3
	

§ 313	
 	

(a)	
 	

7.6
	 	 	(b)	 	7.6
	 	 	(c)	 	7.6
	 	 	(d)	 	7.6
	

§ 314	
 	

(a)	
 	

4.2; 4.3
	 	 	(b)	 	Not Applicable
	 	 	(c)	 	10.4
	 	 	(d)	 	Not Applicable
	 	 	(e)	 	10.5
	 	 	(f)	 	Not Applicable
	

§ 315	
 	

(a)	
 	

7.1
	 	 	(b)	 	7.5
	 	 	(c)	 	7.1
	 	 	(d)	 	7.1
	 	 	(e)	 	6.11
	

§ 316	
 	

(a)(1)(A)	
 	

6.5
	 	 	(a)(1)(B)	 	6.4
	 	 	(a)(2)	 	Not Applicable
	 	 	(b)	 	6.7
	 	 	(c)	 	1.5
	

§ 317	
 	

(a)(1)	
 	

6.8
	 	 	(a)(2)	 	6.9
	 	 	(b)	 	2.4
	

§ 318	
 	

(a)	
 	

10.1

	(1)
	This
Cross-Reference Table shall not (i)  be deemed, for any purpose, to constitute part of the Indenture, nor (ii)  have any bearing on the
interpretation of any of its terms or provisions 

   TABLE OF CONTENTS  

	ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE	 	 
	 	
 Section 1.1 Definitions	
 	

 
	 	Section 1.2 Other Definitions	 	 
	 	Section 1.3 Incorporation by Reference of Trust Indenture Act	 	 
	 	Section 1.4 Rules of Construction	 	 
	 	Section 1.5 Acts of Holders	 	 
	

ARTICLE II THE SECURITIES	
 	

 
	 	
 Section 2.1 Form and Dating.	
 	

 
	 	Section 2.2 Execution and Authentication.	 	 
	 	Section 2.3 Registrar, Paying Agent and Conversion Agent.	 	 
	 	Section 2.4 Paying Agent to Hold Money and Securities in Trust.	 	 
	 	Section 2.5 Securityholder Lists	 	 
	 	Section 2.6 Transfer and Exchange	 	 
	 	Section 2.7 Replacement Securities.	 	 
	 	Section 2.8 Outstanding Securities; Determinations of Holders' Action	 	 
	 	Section 2.9 Temporary Securities.	 	 
	 	Section 2.10 Cancellation	 	 
	 	Section 2.11 Persons Deemed Owners	 	 
	 	Section 2.12 Global Securities.	 	 
	 	Section 2.13 CUSIP Numbers	 	 
	

ARTICLE III REDEMPTION AND PURCHASES	
 	

 
	 	
 Section 3.1 Company's Right to Redeem; Notices to Trustee	
 	

 
	 	Section 3.2 Selection of Securities to Be Redeemed.	 	 
	 	Section 3.3 Notice of Redemption.	 	 
	 	Section 3.4 Effect of Notice of Redemption	 	 
	 	Section 3.5 Deposit of Redemption Price.	 	 
	 	Section 3.6 Securities Redeemed in Part	 	 
	 	Section 3.7 Purchase of Securities at Option of the Holder upon Change of Control	 	 
	 	Section 3.8 Effect of Change of Control Purchase Notice; Withdrawal	 	 
	 	Section 3.9 Deposit of Change of Control Purchase Price	 	 
	 	Section 3.10 Securities Purchased in Part.	 	 
	 	Section 3.11 Covenant to Comply With Securities Laws Upon Purchase of Securities.	 	 
	 	Section 3.12 Repayment to the Company.	 	 
	

ARTICLE IV COVENANTS	
 	

 
	 	
 Section 4.1 Payment of Securities	
 	

 
	 	Section 4.2 SEC and Other Reports.	 	 
	 	Section 4.3 Compliance Certificate	 	 
	 	Section 4.4 Further Instruments and Acts.	 	 
	 	Section 4.5 Maintenance of Office or Agency	 	 
	 	Section 4.6 Delivery of Certain Information	 	 
	 	Section 4.7 Treatment of Securities.	 	 
	

ARTICLE V SUCCESSOR CORPORATION	
 	

 
	 	
 Section 5.1 When Company May Merge or Transfer Assets	
 	

 
	 	 	 

i

 

	

ARTICLE VI DEFAULTS AND REMEDIES	
 	

 
	 	
 Section 6.1 Events of Default	
 	

 
	 	Section 6.2 Acceleration.	 	 
	 	Section 6.3 Other Remedies	 	 
	 	Section 6.4 Waiver of Past Defaults	 	 
	 	Section 6.5 Control by Majority	 	 
	 	Section 6.6 Limitation on Suits	 	 
	 	Section 6.7 Rights of Holders to Receive Payment.	 	 
	 	Section 6.8 Collection Suit by Trustee	 	 
	 	Section 6.9 Trustee May File Proofs of Claim	 	 
	 	Section 6.10 Priorities.	 	 
	 	Section 6.11 Undertaking for Costs.	 	 
	 	Section 6.12 Waiver of Stay, Extension or Usury Laws	 	 
	

ARTICLE VII TRUSTEE	
 	

 
	 	
 Section 7.1 Duties of Trustee.	
 	

 
	 	Section 7.2 Rights of Trustee.	 	 
	 	Section 7.3 Individual Rights of Trustee	 	 
	 	Section 7.4 Trustee's Disclaimer.	 	 
	 	Section 7.5 Notice of Defaults.	 	 
	 	Section 7.6 Reports by Trustee to Holders	 	 
	 	Section 7.7 Compensation and Indemnity	 	 
	 	Section 7.8 Replacement of Trustee	 	 
	 	Section 7.9 Successor Trustee by Merger.	 	 
	 	Section 7.10 Eligibility; Disqualification	 	 
	 	Section 7.11 Preferential Collection of Claims Against Company	 	 
	 	Section 7.12 Force Majeure.	 	 
	

ARTICLE VIII AMENDMENTS	
 	

 
	 	
 Section 8.1 Without Consent of Holders	
 	

 
	 	Section 8.2 With Consent of Holders	 	 
	 	Section 8.3 Compliance with Trust Indenture Act	 	 
	 	Section 8.4 Revocation and Effect of Consents, Waivers and Actions	 	 
	 	Section 8.5 Notation on or Exchange of Securities	 	 
	 	Section 8.6 Trustee to Sign Supplemental Indentures	 	 
	 	Section 8.7 Effect of Supplemental Indentures	 	 
	

ARTICLE IX CONVERSIONS	
 	

 
	 	
 Section 9.1 Conversion Privilege	
 	

 
	 	Section 9.2 Conversion Procedure; Conversion Price; Fractional Shares.	 	 
	 	Section 9.3 Adjustment of Conversion Price.	 	 
	 	Section 9.4 Consolidation or Merger of the Company	 	 
	 	Section 9.5 Notice of Adjustment.	 	 
	 	Section 9.6 Notice in Certain Events.	 	 
	 	Section 9.7 Company To Reserve Stock: Registration; Listing	 	 
	 	Section 9.8 Taxes on Conversion	 	 
	 	Section 9.9 Conversion After Record Date	 	 
	 	Section 9.10 Company Determination Final	 	 
	 	Section 9.11 Responsibility of Trustee for Conversion Provisions.	 	 
	 	Section 9.12 Unconditional Right of Holders to Convert.	 	 
	 	 	 

ii

 

	

ARTICLE X MISCELLANEOUS	
 	

 
	 	
 Section 10.1 Trust Indenture Act Controls.	
 	

 
	 	Section 10.2 Notices	 	 
	 	Section 10.3 Communication by Holders with Other Holders.	 	 
	 	Section 10.4 Certificate and Opinion as to Conditions Precedent.	 	 
	 	Section 10.5 Statements Required in Certificate or Opinion.	 	 
	 	Section 10.6 Separability Clause	 	 
	 	Section 10.7 Rules by Trustee, Paying Agent, Conversion Agent and Registrar.	 	 
	 	Section 10.8 Legal Holidays.	 	 
	 	Section 10.9 Governing Law	 	 
	 	Section 10.10 Waiver of Jury Trial.	 	 
	 	Section 10.11 No Recourse Against Others	 	 
	 	Section 10.12 Successors.	 	 
	 	Section 10.13 Multiple Originals.	 	 
	 	Section 10.14 Effect of Headings and Table of Contents.	 	 

 

	EXHIBIT A	 	Form of Global Security	 	 
	EXHIBIT B	 	Form of Certificated Security	 	 
	EXHIBIT C	 	Transfer Certificate	 	 

iii

        INDENTURE dated as of April 14, 2004 between deCODE genetics, Inc., a Delaware corporation ("Company"), and THE BANK OF NEW YORK, a New York banking corporation
("Trustee"). 

        Each
party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Company's 3.5% Senior Convertible Notes due 2011: 

ARTICLE I  

 DEFINITIONS AND INCORPORATION BY REFERENCE  

        Section 1.1    Definitions    "144A Global Security" means a permanent Global Security in the form of the
Security attached hereto as Exhibit A, and that is deposited with and registered in the name of the Depositary, representing Securities sold in reliance on Rule 144A under the Securities
Act. 

        "Additional
Amounts" shall have the meaning ascribed to it in the Registration Rights Agreement. 

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

        "Applicable
Procedures" means, with respect to any transfer or transaction involving a Global Security or beneficial interest therein, the rules and procedures of the Depositary for such
Security, in each case to the extent applicable to such transaction and as in effect from time to time. 

        "Board
of Directors" means either the board of directors of the Company or any duly authorized committee of such board. 

        "Board
Resolution" means a resolution of the Board of Directors. 

        "Business
Day" means, with respect to any Security, a day that in The City of New York, is not a day on which banking institutions are authorized by law or regulation to close. 

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

        "Certificated
Securities" means Securities that are in the form of the Securities attached hereto as Exhibit B. 

        "Common
Stock" shall mean the Common Stock, $0.001 par value per share, of the Company existing on the date of this Indenture or any other shares of Capital Stock of the Company into
which such Common Stock shall be reclassified or changed. 

        "Company"
means the party named as the "Company" in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and,
thereafter, shall mean such successor. The foregoing sentence shall likewise apply to any subsequent such successor or successors. 

        "Company
Request" or "Company Order" means a written request or order signed in the name of the Company by any two Officers. 

        "Conversion
Price" means initially $14.00, subject to adjustment as set forth herein. 

        "Corporate
Trust Office" means the principal office of the Trustee at which at any time its corporate trust business shall be administered, which office at the date hereof is located at
101 Barclay Street, Floor 21 West, New York, New York 10286, Attention: Corporate Trust Administration, or such other address as the Trustee may designate from time to time by notice to the Holders
and the 

 

Company,
or the principal corporate trust office of any successor (or such other address as a successor Trustee may designate from time to time by notice to the Holders and the Company). 

        "Default"
means an event which, with the giving of notice or the lapse of time, or both, would become an Event of Default. 

        "Ex-Dividend
Time" means, with respect to any issuance or distribution on shares of Common Stock, the first date on which the shares of Common Stock trade regular way on the
principal securities market on which the shares of Common Stock are then traded without the right to receive such issuance or distribution. 

        "Global
Securities" means Securities that are in the form of the Securities attached hereto as Exhibit A, and that are registered in the register of Securities in the name of a
Depositary or a nominee thereof, and to the extent that such Securities are required to bear the Legend required by Section 2.6 hereof, such Securities will be in the form of a 144A Global
Security. 

        "Holder"
or "Securityholder" means a Person in whose name a Security is registered on the Registrar's books. 

        "Indenture"
means this Indenture, as amended or supplemented from time to time in accordance with the terms hereof, including the provisions of the TIA that are deemed to be a part
hereof. 

        "Initial
Purchasers" means Lehman Brothers Inc., J.P. Morgan Securities Inc., Piper Jeffrey & Co., Deutsche Bank Securities Inc. and Think Equity Partners
LLC. 

        "Issue
Date" of any Security means the date on which the Security was originally issued or deemed issued as set forth on the face of the Security. 

        "Officer"
means the Chairman of the Board, the Vice Chairman, the Chief Executive Officer, the President, any Executive Vice President, any Senior Vice President, the Treasurer, the
Controller, or the Secretary or any Assistant Treasurer or Assistant Secretary of the Company. 

        "Officers'
Certificate" means a written certificate containing the information specified in Sections 10.4 and 10.5, signed in the name of the Company by any two Officers, and delivered
to the Trustee. An Officers' Certificate given pursuant to Section 4.3 shall be signed by the principal executive Officer, principal financial Officer or principal accounting Officer of the
Company but need not contain the information specified in Sections 10.4 and 10.5. 

        "Opinion
of Counsel" means a written opinion containing the information specified in Sections 10.4 and 10.5, from legal counsel who is reasonably acceptable to the Trustee. The counsel
may be an employee of, or counsel to, the Company. 

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

        "Redemption
Date" or "redemption date" shall mean the date specified in a notice of redemption on which the Securities may be redeemed in accordance with the terms of the Securities and
this Indenture. 

        "Redemption
Price" or "redemption price" shall have the meaning set forth in Section 5 of the Securities. 

        "Registration
Rights Agreement" means the Resale Registration Rights Agreement, dated as of the date hereof, among the Company, J. P. Morgan Securities Inc. and Lehman
Brothers Inc. as representatives of the Initial Purchasers. 

2

 

        "Responsible
Officer" shall mean, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, assistant vice
president, assistant secretary assistant treasurer, trust officer or any other officer of the Trustee who customarily performs 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 such person's knowledge of and familiarity with the particular subject and who shall have direct
responsibility for the administration of this Indenture. 

        "Restricted
Security" means a Security required to bear the restrictive legend set forth in the form of Security set forth in Exhibits A and B of this Indenture. 

        "Rule 144A"
means Rule 144A under the Securities Act (or any successor provision), as it may be amended from time to time. 

        "Sale
Price" of a security on any date of determination means: 

          (i)  the
closing sales price as reported by the Nasdaq Stock Market, Inc.; 

         (ii)  if
such security is not so reported on any such date, the closing sale price as reported in the composite transactions for the principal U.S. securities exchange on
which such security is so listed; 

        (iii)  if
such security is not so reported, the last price quoted by Interactive Data Corporation for such security on such date or, if Interactive Data Corporation is not
quoting such price, a similar quotation service selected by the Company; 

        (iv)  if
such security is not so quoted, the average of the mid-point of the last bid and ask prices for such security on such date from at least two dealers
recognized as market-makers for such security selected by the Company for this purpose; or 

         (v)  if
such security is not so quoted, the average of that last bid and ask prices for such security on such date from a dealer engaged in the trading of convertible
securities selected by the Company for this purpose. 

        "SEC"
means the Securities and Exchange Commission. 

        "Securities"
means any of the Company's 3.5% Senior Convertible Notes due 2011, as amended or supplemented from time to time, issued under this Indenture. 

        "Securityholder"
or "Holder" means a Person in whose name a Security is registered on the Registrar's books. 

        "Significant
Subsidiary" shall have the meaning ascribed to such term in Rule 405 of the Securities Act. 

        "Stated
Maturity", when used with respect to any Security, means April 15, 2011. 

        "Subsidiary"
means any Person of which at least a majority of the outstanding Voting Stock shall at the time directly or indirectly be owned or controlled by the Company or by one or
more Subsidiaries or by the Company and one or more Subsidiaries. 

        "TIA"
means the Trust Indenture Act of 1939 as in effect on the date of this Indenture, provided, however, that in the event the TIA is amended after such date, TIA means, to the extent
required by any such amendment, the TIA as so amended. 

        "Trading
Day" means a day during which trading in securities generally occurs on the Nasdaq Stock Market, Inc. or, if the Common Stock is not quoted on the Nasdaq Stock
Market, Inc., on the principal other national or regional securities exchange on which the Common Stock then is listed or, if the Common Stock is not traded on the Nasdaq Stock
Market, Inc. or listed on a national or regional 

3

 

securities
exchange, on the principal other market on which the Common Stock is then traded or quoted. 

        "Trustee"
means the party named as the "Trustee" in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and,
thereafter, shall mean such successor. The foregoing sentence shall likewise apply to any subsequent such successor or successors. 

        "Voting
Stock" of a Person means Capital Stock of such Person of the class or classes pursuant to which the holders thereof have the general voting power under ordinary circumstances to
elect at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time Capital Stock of any other class or classes shall have or might
have voting power by reason of the happening of any contingency). 

        Section 1.2    Other Definitions.    

	Term:
 
	 	Section in which the term is defined:

	"Act"	 	1.5
	"Agent Members"	 	2.12(e)
	"beneficial owner"	 	3.7(a)
	"Change of Control"	 	3.7(a)
	"Change of Control Purchase Date"	 	3.7(a)
	"Change of Control Purchase Notice"	 	3.7(c)
	"Change of Control Purchase Price"	 	3.7(a)
	"Common Stock Restrictive Legend"	 	2.6(f)
	"Continuing Director"	 	3.7(a)
	"Conversion Agent"	 	2.3
	"Current Market Price"	 	9.3(g)
	"Depositary"	 	2.1(a)
	"distributed assets"	 	9.3(d)
	"DTC"	 	2.1(a)
	"Event of Default"	 	6.1
	"Exchange Act"	 	2.12(e)
	"Expiration Time"	 	9.3(f)
	"Fair Market Value"	 	9.3(g)
	"issuer tender offer"	 	3.11
	"Legal Holiday"	 	10.8
	"Legend"	 	2.6(f)
	"Non-Electing Share"	 	9.4
	"Paying Agent"	 	2.3
	"QIB"	 	2.1(a)
	"Record Date"	 	9.3(g)
	"Reference Period"	 	9.3(d)
	"Registrar"	 	2.3
	"Rule 144A Information"	 	4.6
	"Securities Act"	 	2.6(f)
	"Spin-Off"	 	9.3(d)
	"transfer"	 	2.12(d)
	"Trigger Event"	 	9.3(d)

4

   
        Section 1.3    Incorporation by Reference of Trust Indenture Act.    Whenever this Indenture refers to a
provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings: 

        "Commission"
means the SEC. 

        "indenture
securities" means the Securities. 

        "indenture
security holder" means a Securityholder. 

        "indenture
to be qualified" means this Indenture. 

        "indenture
trustee" or "institutional trustee" means the Trustee. 

        "obligor"
on the indenture securities means the Company. 

        All
other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule have the meanings assigned to them by such
definitions. 

        Section 1.4    Rules of Construction.    Unless the context otherwise requires: 

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

        (2)   an
accounting term not otherwise defined has the meaning assigned to it in accordance with U.S. generally accepted accounting principles as in effect from time to time; 

        (3)   "or"
is not exclusive; 

        (4)   "including"
means including, without limitation; and 

        (5)   words
in the singular include the plural, and words in the plural include the singular. 

        Section 1.5    Acts of Holders.    (a) Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee
and, where it is hereby expressly required, to the Company, as described in Section 10.2. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein
sometimes referred to as the "Act" of Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any
purpose of this Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 

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

        (c)   The
principal amount and serial number of any Security and the ownership of Securities shall be proved by the register for the Securities. 

        (d)   Any
request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security and
the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu 

5

 

thereof
in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 

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

ARTICLE II  

 THE SECURITIES  

        Section 2.1    Form and Dating.    The Securities and the Trustee's certificate of authentication shall be
substantially in the form of Exhibits A and B, which are a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule or usage (provided
that any such notation, legend or endorsement required by usage is in a form acceptable to the Company). The Company shall provide any such notations, legends or endorsements to the Trustee in
writing. Each Security shall be dated the date of its authentication. 

        (a)    144A Global Securities.    Securities offered and sold within the United States to qualified institutional
buyers as defined in Rule 144A ("QIBs") in reliance on Rule 144A shall be issued initially in the form of a 144A Global Security, which shall be deposited with the Trustee at its
Corporate Trust Office, as custodian for the Depositary (as defined below) and registered in the name of The Depository Trust Company ("DTC") or the nominee thereof (DTC, or any successor thereto, and
any such nominee being hereinafter referred to as the "Depositary"), duly executed by the Company and authenticated by the Trustee as hereinafter provided. The aggregate principal amount of the 144A
Global Securities may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary as hereinafter provided. 

        (b)    Global Securities in General.    Each Global Security shall represent such of the outstanding Securities as
shall be specified therein and each shall provide that it shall represent the aggregate amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of
outstanding Securities represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges, redemptions, repurchases and conversions. 

        Any
adjustment of the aggregate principal amount of a Global Security to reflect the amount of any increase or decrease in the amount of outstanding Securities represented thereby shall
be made by the Trustee in accordance with instructions given by the Holder thereof as required by Section 2.12 hereof and shall be made on the records of the Trustee and the Depositary. 

        (c)    Book-Entry Provisions.    This Section 2.1(c) shall apply only to Global Securities
deposited with or on behalf of the Depositary. 

6

 

        The
Company shall execute and the Trustee shall, in accordance with this Section 2.1(c), authenticate and deliver initially one or more Global Securities that (a) shall be
registered in the name of the Depositary, (b) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary's instructions and (c) shall be substantially in the form
of Exhibit A attached hereto; provided that the Legend (other than the first and second paragraphs thereof) may be removed from such Global Security on satisfaction of the conditions specified
in this Indenture. 

        (d)    Certificated Securities.    Securities not issued as interests in the Global Securities will be issued in
certificated form substantially in the form of Exhibit B attached hereto; provided that the Legend may be removed from such Securities on satisfaction of the conditions specified in this
Indenture. 

        Section 2.2    Execution and Authentication.    The Securities shall be executed on behalf of the Company by
any Officer. The signature of the Officer on the Securities may be manual or facsimile. 

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

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

        The
Trustee shall authenticate and deliver the Securities for original issue in an aggregate principal amount of $150,000,000 (of which $125,000,000 represents the original issue and
$25,000,000 is issued pursuant to the exercise by the Initial Purchasers of their option to purchase up to $25,000,000 aggregate principal amount of additional Securities) upon one or more Company
Orders without any further action by the Company (other than as contemplated in Section 10.4 and Section 10.5 hereof). The aggregate principal amount of the Securities due at the Stated
Maturity thereof outstanding at any time may not exceed the amount set forth in the foregoing sentence. 

        The
Securities shall be issued only in registered form without coupons and only in denominations of $1,000 of principal amount and any integral multiple of $1,000. 

        Section 2.3    Registrar, Paying Agent and Conversion Agent.    The Company shall maintain an office or agency
where Securities may be presented for registration of transfer or for exchange ("Registrar"), an office or agency where Securities may be presented for purchase or payment ("Paying Agent") and an
office or agency where Securities may be presented for conversion ("Conversion Agent"). The Registrar shall keep a register of the Securities and of their transfer and exchange. The Company may have
one or more co-registrars, one or more additional paying agents and one or more additional conversion agents. The term Paying Agent includes any additional paying agent, including any
named pursuant to Section 4.5. The term Conversion Agent includes any additional conversion agent, including any named pursuant to Section 4.5. 

        The
Company shall enter into an appropriate agency agreement with any Registrar, Paying Agent, Conversion Agent or co-registrar (in each case, if such Registrar, agent or
co-registrar is a Person other than the Trustee). The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee of the name
and address of any such agent. If the Company fails to maintain a Registrar, Paying Agent or Conversion Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor
pursuant to Section 7.7. The Company or any Subsidiary or an Affiliate of either of them may act as Paying Agent, Registrar, Conversion Agent or co-registrar. 

7

 

        The
Company initially appoints the Trustee as Registrar, Paying Agent and Conversion Agent in connection with the Securities. 

        Section 2.4    Paying Agent to Hold Money and Securities in Trust.    Except as otherwise provided herein, on
or prior to each due date of payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date)
sufficient to make such payments when so becoming due. The Company shall require each Paying Agent (other
than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of Securityholders or the Trustee all money held by the Paying Agent for the making of payments in
respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such default, the Paying Agent shall, upon
the written request of the Trustee, forthwith pay to the Trustee all money so held in trust. If the Company, a Subsidiary or an Affiliate of either of them acts as Paying Agent, it shall segregate the
money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds and
Common Stock disbursed by it. Upon doing so, the Paying Agent shall have no further liability for the money. 

        Section 2.5    Securityholder Lists.    The Trustee shall preserve in as current a form as is reasonably
practicable the most recent list available to it of the names and addresses of Securityholders. If the Trustee is not the Registrar, the Company shall cause to be furnished to the Trustee at least
semiannually on April 1 and October 1 a listing of Securityholders dated within 15 days of the date on which the list is furnished and at such other times as the Trustee may
request in writing a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Securityholders. 

        Section 2.6    Transfer and Exchange.    (a) Subject to Section 2.12, upon surrender for
registration of transfer of any Security, together with a written instrument of transfer satisfactory to the Registrar duly executed by the Securityholder or such Securityholder's attorney duly
authorized in writing, at the office or agency of the Company designated as Registrar or co-registrar pursuant to Section 2.3, the Company shall execute, and the Trustee shall
authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of any authorized denomination or denominations, of a like aggregate principal amount. The
Company shall not charge a service charge for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to pay all taxes, assessments or other governmental
charges that may be imposed in connection with the transfer or exchange of the Securities from the Securityholder requesting such transfer or exchange. 

        At
the option of the Holder, Securities may be exchanged for other Securities of any authorized denomination or denominations, of a like aggregate principal amount upon surrender of the
Securities to be exchanged, together with a written instrument of transfer satisfactory to the Registrar duly executed by the Securityholder or such Securityholder's attorney duly authorized in
writing, at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder
making the exchange is entitled to receive. 

        The
Company shall not be required to make, and the Registrar need not register, transfers or exchanges of Securities selected for redemption (except, in the case of Securities to be
redeemed in part, the portion thereof not to be redeemed) or any Securities in respect of which a Change of Control Purchase Notice has been given and not withdrawn by the Holder thereof in accordance
with the terms of this Indenture (except, in the case of Securities to be purchased in part, the portion thereof not to be purchased) or any Securities for a period of 15 days before the
mailing of a notice of redemption of Securities to be redeemed. 

8

 

        (b)   Notwithstanding
any provision to the contrary herein, so long as a Global Security remains outstanding and is held by or on behalf of the Depositary,
(i) transfers of beneficial interests in a Global Security, in whole or in part, may be effected only through a book entry system maintained by the Holder of such Global Security (or its agent)
in accordance with Applicable Procedures, (ii) ownership of a beneficial interest in the Security shall be required to be reflected in book entry and (iii) transfers of Global Securities
or beneficial interests in Global Securities shall be made only in accordance with Section 2.12 and this Section 2.6(b). Transfers of a Global Security shall be limited to transfers of
such Global Security in whole or in part, to the Depositary, to nominees of the Depositary or to a successor of the Depositary or such successor's nominee. 

        (c)   Successive
registrations and registrations of transfers and exchanges as aforesaid may be made from time to time as desired, and each such registration shall be noted on
the register for the Securities. 

        (d)   Any
Registrar appointed pursuant to Section 2.3 shall provide to the Trustee such information as the Trustee may reasonably require in connection with the
delivery by such Registrar of Securities upon transfer or exchange of Securities. 

        (e)   No
Registrar shall be required to make registrations of transfer or exchange of Securities during any periods designated in the text of the Securities or in this
Indenture as periods during which such registration of transfers and exchanges need not be made. 

        (f)    If
Securities are issued upon the transfer, exchange or replacement of Securities subject to restrictions on transfer and bearing the legends set forth on the forms of
Security attached hereto as Exhibits A and B setting forth such restrictions (collectively, the "Legend"), or if a request is made to remove the Legend on a Security, the Securities so issued shall
bear the Legend, or the Legend shall not be removed, as the case may be, unless there is delivered to the Company and the Registrar such satisfactory evidence, which shall include an opinion of
counsel, as may be reasonably required by the Company and the Registrar and the Trustee (if not the same Person as the Trustee), that neither the Legend nor the restrictions on transfer set forth
therein are required to ensure that transfers thereof comply with the provisions of Rule 144A or Rule 144 under the Securities Act of 1933, as amended ("Securities Act") or that such
Securities are not "restricted" within the meaning of Rule 144 under the Securities Act. Upon (i) provision of such satisfactory evidence, or (ii) notification by the Company to
the Trustee and Registrar of the sale of such Security pursuant to a registration statement that is effective at the time of such sale, the Trustee, at the written direction of the Company, shall
authenticate and deliver a Security that does not bear the Legend. If the Legend is removed from the face of a Security and the Security is subsequently held by the Company or an Affiliate of the
Company, the Legend shall be reinstated. 

        In
the event Rule 144(k) as promulgated under the Securities Act is amended to shorten the two-year period under Rule 144(k), then, the references in the Legend
to "TWO YEARS", and in the corresponding transfer restrictions described above, will be deemed to refer to such shorter period, from and after receipt by the Trustee of an Officers' Certificate and an
Opinion of Counsel to that effect. As soon as practicable after the Company knows of the effectiveness of any such amendment to shorten the two-year period under Rule 144(k), unless
such changes would otherwise be prohibited by, or would cause a violation of, the federal securities laws applicable at the time, the Company will provide to the Trustee an Officers' Certificate and
an Opinion of Counsel as to the effectiveness of such amendment and the effectiveness of such change to the restrictive legends and transfer restrictions. 

        Until
the Legend on any Restricted Security has been removed in compliance with this Section 2.6(f), all shares of Common Stock (or other securities issuable upon conversion as a
result of the provisions of this Indenture) issued upon conversion of such Restricted Security shall bear a legend 

9

 

substantially
in the form of the Legend (the "Common Stock Restrictive Legend") and shall be subject to the same restrictions on transfer as such Restricted Security. At any time following the time
when the restrictions on transfer set forth in the Common Stock Restrictive Legend shall have expired in accordance with their terms or shall have terminated under applicable law, the holder of such
Common Stock may, upon a surrender of the certificate representing such Common Stock exchange to the Company's transfer agent in accordance with such agent's customary procedures (accompanied, in the
event that such restrictions on transfer have terminated by reason of a transfer in compliance with Rule 144 or any successor provision, by an opinion of counsel having substantial experience
in practice under the Securities Act and otherwise reasonably acceptable to the Company, addressed to the Company and in form acceptable to the Company, to the effect that the transfer of such Common
Stock has been made in compliance with Rule 144 or such successor provision), may receive a new certificate representing such Common Stock, in like amount, which shall not bear the Common Stock
Restrictive Legend. 

        Section 2.7    Replacement Securities.    If (a) any mutilated Security is surrendered to the Trustee,
or (b) the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Company and the Trustee such security
or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the
Company shall execute and upon its written request the Trustee shall authenticate and deliver, in exchange for any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a
new Security of like tenor and principal amount, bearing a certificate number not contemporaneously outstanding. 

        In
case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, or is about to be purchased by the Company pursuant to Article III
hereof, the Company in its discretion may, instead of issuing a new Security, pay or purchase such Security, as the case may be. 

        Upon
the issuance of any new Securities under this Section 2.7, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

        Every
new Security issued pursuant to this Section 2.7 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an original additional contractual obligation
of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and proportionately
with any and all other Securities duly issued hereunder. 

        The
provisions of this Section 2.7 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities. 

        Section 2.8    Outstanding Securities; Determinations of Holders' Action.    Securities outstanding at any time
are all the Securities authenticated by the Trustee except for those cancelled by it, those paid pursuant to Section 2.7, those delivered to it for cancellation and those described in this
Section 2.8 as not outstanding. A Security does not cease to be outstanding because the Company or an Affiliate thereof holds the Security; provided, however, that in determining whether the
Holders of the requisite principal amount of Securities have given or concurred in any request, demand, authorization, direction, notice, consent, waiver, or other Act hereunder, 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 relying upon any such request, demand, authorization, direction, notice, consent, waiver or other Act, only Securities which a Responsible Officer of the Trustee
actually knows to be so owned 

10

 

shall
be so disregarded. Subject to the foregoing, only Securities outstanding at the time of such determination shall be considered in any such determination (including, without limitation,
determinations pursuant to Articles VI and VIII hereof). 

        If
a Security is replaced pursuant to Section 2.7, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Security is held by a bona
fide purchaser. 

        If
the Paying Agent holds, in accordance with this Indenture, on a Redemption Date, or on the Business Day following a Change of Control Purchase Date, or on Stated Maturity, money
sufficient to pay Securities payable on that date, then immediately after such Redemption Date, Change of Control Purchase Date or Stated Maturity, as the case may be, such Securities shall cease to
be outstanding and interest, including Additional Amounts, if any, on such Securities shall cease to accrue; 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. 

        If
a Security is converted in accordance with Article IX, then from and after the time of conversion on the date of conversion, such Security shall cease to be outstanding and
interest, including Additional Amounts, if any, shall cease to accrue on such Security. 

        Section 2.9    Temporary Securities.    Pending the preparation of definitive Securities, the Company may
execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the
officers executing such Securities may determine, as conclusively evidenced by their execution of such Securities. 

        If
temporary Securities are issued, the Company will cause definitive Securities to be prepared without unreasonable delay. After the preparation of definitive Securities, the temporary
Securities shall be exchangeable for definitive Securities upon surrender of the temporary Securities at the office or agency of the Company designated for such purpose pursuant to Section 2.3,
without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a
like principal amount of definitive Securities of authorized denominations. Until so exchanged the temporary Securities shall in all respects be entitled to the same benefits under this Indenture as
definitive Securities. 

11

   
        Section 2.10    Cancellation.    If the Company shall acquire any of the Securities, such acquisition shall
not
operate as a redemption or satisfaction of the indebtedness represented by such Securities unless the same are delivered to the Trustee for cancellation. All Securities surrendered for payment,
purchase by the Company pursuant to Article III, conversion, redemption or registration of transfer or exchange shall, if surrendered to any Person other than the Trustee, be delivered to the
Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may
have acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled by the Trustee. The Company may not issue new Securities to replace Securities it has paid or
delivered to the Trustee for cancellation or that any Holder has converted pursuant to Article IX. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as
provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of by the Trustee in accordance with the Trustee's customary
procedure. 

        Section 2.11    Persons Deemed Owners.    Prior to due presentment of a Security for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment
of principal of the Security or the payment of any Redemption Price or Change of Control Purchase Price in respect thereof, and interest thereon, for the purpose of conversion and for all other
purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

        Section 2.12    Global Securities.    (a) Notwithstanding any other provisions of this Indenture or the
Securities, (A) transfers of a Global Security, in whole or in part, shall be made only in accordance with Section 2.6 and Section 2.12(a)(i), (B) transfers or exchanges of
a beneficial interest in a Global Security for an interest in the same or another Global Security shall comply with Section 2.6 and Section 2.12(a)(ii) below, (C) transfers
or exchanges of a beneficial interest in a Global Security for a Certificated Security shall comply with Section 2.6, Section 2.12(a)(iii) below and
Section 2.12(e)(i) below, and (D) transfers or exchanges of a Certificated Security shall comply with Section 2.6 and Sections 2.12(a)(iv) and (a)(v) below. 

        (i)    Transfer of Global Security.    A Global Security may not be transferred, in whole or in part, to any Person
other than the Depositary or a nominee or any successor thereof, and no such transfer to any such other Person may be registered; provided that this clause (i) shall not prohibit any transfer
of a Certificated Security that is issued in exchange for a Global Security. No transfer of a Global Security to any Person shall be effective under this Indenture or the Securities unless and until
such Security has been registered in the name of such Person. Nothing in this Section 2.12(a)(i) shall prohibit or render ineffective any transfer of a beneficial interest in a Global
Security effected in accordance with the other provisions of this Section 2.12. 

        (ii)    Transfer or Exchange of a Beneficial Interest in a Global Security for a Beneficial Interest in the Same or Another Global
Security.    

        (x)   A
beneficial interest in a Global Security may not be transferred or exchanged for a beneficial interest in another Global Security except upon satisfaction of the
requirements set forth below. Upon receipt by the Trustee of a request to transfer or exchange of a beneficial interest in a Global Security in accordance with Applicable Procedures for a beneficial
interest in another Global Security, together with: 

        (A)  so
long as the Securities are Restricted Securities, certification in the form set forth in Exhibit C; 

        (B)  written
instructions to the Trustee to make, or direct the Registrar to make, in the case of a transfer or exchange of a beneficial interest in a Global Security for a 

12

 

beneficial
interest in another Global Security, an adjustment on its books and records with respect to such Global Securities to reflect a decrease and increase in the aggregate principal amount of
the Securities represented by such Global Securities, such instructions to contain information regarding the Depositary accounts to be credited with such decrease and increase; and 

        (C)  if
the Company or the Trustee so requests, an Opinion of Counsel or other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in
the Legend, 

then
the Trustee, (1) shall cause, or direct the Registrar to cause, in accordance with the standing instructions and procedures existing between the Depositary and the Registrar, the aggregate
principal amount of the Securities represented by the appropriate Global Security to be decreased by the aggregate principal amount that the other Global Security is increased and (2) in
accordance with the standing instructions and procedures existing between the Depositary and the Registrar and Applicable Procedures, shall debit and credit or cause to be debited or credited, as
appropriate, to the accounts of the persons specified in such instructions a beneficial interest in the Global Security or Global Securities, as appropriate, equal to the amount of the beneficial
interests so transferred or exchanged. 

        (y)   Beneficial
interests in a Global Security may be transferred to Persons who take delivery in the same Global Security in accordance with the Applicable Procedures and,
if the Global Security is a Restricted Security, in accordance with the transfer restrictions set forth in the Legend. No written orders or instructions shall be required to be delivered to the
Registrar or the Trustee to effect the transactions described in this Section 2.12(a)(ii)(y). 

        (z)   Other
than transfers to the Company or to an Affiliate of the Company, beneficial interests in a Global Security that is not a Restricted Security may not be transferred
to Person who takes delivery thereof in the form a beneficial interest in a Global Security that is a Restricted Security. 

        (iii)    Transfer or Exchange of a Beneficial Interest in a Global Security for a Certificated Security.    A
beneficial interest in a Global Security may not be exchanged for a Certificated Security except upon satisfaction of the requirements set forth below and in Section 2.12(e)(1) below. Upon
receipt by the Trustee of a transfer of a beneficial interest in a Global Security in accordance with Applicable Procedures for a Certificated Security in the form satisfactory to the Trustee,
together with: 

        (A)  so
long as the Securities are Restricted Securities, certification in the form set forth in Exhibit C; 

        (B)  written
instructions to the Trustee to make, or direct the Registrar to make, an adjustment on its books and records with respect to such Global Security to reflect a
decrease in the aggregate principal amount of the Securities represented by the Global Security, such instructions to contain information regarding the Depositary account to be credited with such
decrease; and 

        (C)  if
the Company or the Trustee so requests, an Opinion of Counsel or other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in
the Legend, 

then
the Trustee shall cause, or direct the Registrar to cause, in accordance with the standing instructions and procedures existing between the Depositary and the Registrar, the aggregate principal
amount of the Securities represented by the Global Security to be decreased by the aggregate principal amount of the Certificated Security to be issued, shall issue such Certificated Security and
shall debit 

13

 

or
cause to be debited to the account of the person specified in such instructions a beneficial interest in the Global Security equal to the principal amount of the Certificated Security so issued. 

        (iv)    Transfer and Exchange of Certificated Securities.    When Certificated Securities are presented to the
Registrar with a request: 

        (y)   to
register the transfer of such Certificated Securities; or 

        (z)   to
exchange such Certificated Securities for an equal principal amount of Certificated Securities of other authorized denominations, 

the
Registrar shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met; provided, however, that the Certificated Securities surrendered
for transfer or exchange: 

	(1)
	shall
be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Registrar, duly executed by the Holder thereof or his
attorney duly authorized in writing; and

	(2)
	so
long as such Securities are Restricted Securities, such Securities are being transferred or exchanged pursuant to an effective registration statement under the Securities Act or
pursuant to clause (A), (B) or (C) below, and are accompanied by the following additional information and documents, as applicable: 

        (A)  if
such Certificated Securities are being delivered to the Registrar by a Holder for registration in the name of such Holder, without transfer, a certification from such
Holder to that effect; or 

        (B)  if
such Certificated Securities are being transferred to the Company, a certification to that effect; or 

        (C)  if
such Certificated Securities are being transferred pursuant to an exemption from registration, (i) a certification to that effect (in the form set forth in
Exhibit C, if applicable) and (ii) if the Company so requests, an opinion of counsel or other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth
in the Legend. 

        (v)    Transfer of a Certificated Security for a Beneficial Interest in a Global Security.    A Certificated Security
may not be exchanged for a beneficial interest in a Global Security except upon satisfaction of the requirements set forth below. 

        Upon
receipt by the Trustee of a Certificated Security, duly endorsed or accompanied by appropriate instruments of transfer, in form satisfactory to the Trustee, together with: 

        (I)   so
long as the Securities are Restricted Securities, certification, in the form set forth in Exhibit C, that such Certificated Security is being transferred to a
QIB in accordance with Rule 144A, or to an institutional accredited investor within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D of the Securities
Act; and 

        (II)  written
instructions directing the Trustee to make, or to direct the Registrar to make, an adjustment on its books and records with respect to such Global Security to
reflect an increase in the aggregate principal amount of the Securities represented by the Global Security, such instructions to contain information regarding the Depositary account to be credited
with such increase, then the Trustee shall cancel such Certificated Security and cause, or direct the Registrar to cause, in accordance with the standing instructions and procedures existing between
the Depositary and the Registrar, the aggregate principal amount of Securities represented by the Global Security to be increased by the aggregate principal amount of the Certificated Security to be
exchanged, and shall credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Global Security equal to the principal amount of the 

14

 

Certificated
Security so cancelled. If no Global Securities are then outstanding, the Company shall issue and the Trustee shall authenticate, upon written order of the Company in the form of an
Officers' Certificate, a new Global Security in the appropriate principal amount. 

        (b)   Subject
to the succeeding Section (c), every Security shall be subject to the restrictions on transfer provided in the Legend and herein including the delivery of
an opinion of counsel, if so provided. Whenever any Restricted Security is presented or surrendered for transfer or for exchange, such Security must be accompanied by a certificate in substantially
the form set forth in Exhibit C, dated the date of such surrender and signed by the Holder of such Security, as to compliance with such restrictions on transfer. The Registrar shall not be
required to accept for such transfer or exchange any Security not so accompanied by a properly completed certificate. 

        (c)   The
restrictions imposed by the Legend upon the transferability of any Security shall cease and terminate when such Security has been sold pursuant to an effective
registration statement under the Securities Act or transferred in compliance with Rule 144 under the Securities Act (or any successor provision thereto) or, if earlier, upon the expiration of
the holding period applicable to sales thereof under Rule 144(k) under the Securities Act (or any successor provision). Any Security as to which such restrictions on transfer shall have expired
in accordance with their terms or shall have terminated may, upon a surrender of such Security for exchange to the Registrar in accordance with the provisions of this Section 2.12 (accompanied,
in the event that such restrictions on transfer have terminated by reason of a transfer in compliance with Rule 144 or any successor provision, by an opinion of counsel having substantial
experience in practice under the Securities Act and otherwise reasonably acceptable to the Company, addressed to the Company and in form acceptable to the Company, to the effect that the transfer of
such Security has been made in compliance with Rule 144 or such successor provision), be exchanged for a new Security, of like tenor and aggregate principal amount, which shall not bear the
restrictive Legend. The Company shall inform the Trustee of the effective date of any registration statement registering the Securities under the Securities Act. The Trustee shall not be liable for
any
action taken or omitted to be taken by it in good faith in accordance with the aforementioned opinion of counsel or registration statement. 

        (d)   As
used in the preceding two paragraphs of this Section 2.12, the term "transfer" encompasses any sale, pledge, transfer, loan, hypothecation, or other
disposition of any interest in any Security. 

        (e)   The
provisions of clauses (1), (2), (3) and (4) below shall apply only to Global Securities: 

	(1)
	Notwithstanding
any other provisions of this Indenture or the Securities, a Global Security shall not be exchanged in whole or in part for a Security registered in the name of any
Person other than the Depositary or one or more nominees thereof, provided that a Global Security may be exchanged for Securities registered in the names of any Person designated by the Depositary in
the event that (i) the Depositary has notified the Company that it is unwilling or unable to continue as Depositary for such Global Security or such Depositary has ceased to be a "clearing
agency" registered under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and a successor Depositary is not appointed by the Company within 90 days or (ii) an Event
of Default has occurred and is continuing with respect to the Securities. Any Global Security exchanged pursuant to clause (i) above shall be so exchanged in whole and not in part, and any
Global Security exchanged pursuant to clause (ii) above may be exchanged in whole or from time to time in part as directed by the Depositary. Any Security issued in exchange for a Global
Security or any portion thereof shall be a Global Security; provided that any such Security so issued that is registered in the name of a Person other than the Depositary or a nominee thereof shall
not be a Global Security. 

15

 

	(2)
	Securities
issued in exchange for a Global Security or any portion thereof shall be issued in definitive, fully registered form, without interest coupons, shall have an aggregate
principal amount equal to that of such Global Security or portion thereof to be so exchanged, shall be registered in such names and be in such authorized denominations as the Depositary shall
designate and shall bear the applicable legends provided for herein. Any Global Security to be exchanged in whole shall be surrendered by the Depositary to the Trustee, as Registrar. With regard to
any Global Security to be exchanged in part, either such Global Security shall be so surrendered for exchange or, if the Trustee is acting as custodian for the Depositary or its nominee with respect
to such Global Security, the principal amount thereof shall be reduced, by an amount equal to the portion thereof to be so exchanged, by means of an appropriate adjustment made on the records of the
Trustee. Upon any such surrender or adjustment, the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the order of the Depositary or an authorized representative
thereof.

	(3)
	Subject
to the provisions of clause (5) below, the registered Holder may grant proxies and otherwise authorize any Person, including Agent Members (as defined below) and
Persons that may hold interests through Agent Members, to take any action which a holder is entitled to take under this Indenture or the Securities.

	(4)
	In
the event of the occurrence of any of the events specified in clause (1) above, the Company will promptly make available to the Trustee a reasonable supply of Certificated
Securities in definitive, fully registered form, without interest coupons.

	(5)
	Neither
any members of, or participants in, the Depositary (collectively, the "Agent Members") nor any other Persons on whose behalf Agent Members may act shall have any rights under
this Indenture with respect to any Global Security registered in the name of the Depositary or any nominee thereof, or under any such Global Security, and the Depositary or such nominee, as the case
may be, may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and holder of such Global Security for all purposes whatsoever. Notwithstanding the
foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by
the Depositary or such nominee, as the case may be, or impair, as between the Depositary, its Agent Members and any other Person on whose behalf an Agent Member may act, the operation of customary
practices of such Persons governing the exercise of the rights of a holder of any Security. 

        (f)    By
its acceptance of any Security bearing the Legend, each Holder of such Security acknowledges the restrictions on transfer of such Security set forth in this Indenture
and agrees that it will transfer such Security only as provided in this Indenture. 

        Section 2.13    CUSIP Numbers.    The Company may issue the Securities with one or more "CUSIP" numbers (if
then generally in use), and, if so, the Trustee shall use "CUSIP" numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made
as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed
on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the CUSIP numbers. 

16

   ARTICLE III  

 REDEMPTION AND PURCHASES  

        Section 3.1    Company's Right to Redeem; Notices to Trustee.    Prior to April 20, 2009, the Securities
will not be redeemable at the Company's option. Beginning on April 20, 2009, the Company, at its option, may redeem the Securities, subject to and in accordance with the terms and conditions of
Section 5 of the Securities, for cash, as a whole or in part, at a redemption price equal to the principal amount of those Securities plus any accrued and unpaid interest, including Additional
Amounts, if any, on those Securities to the Redemption Date. If the Company elects to redeem Securities pursuant to Section 5 of the Securities, it shall notify the Trustee in writing of the
Redemption Date, the principal amount of Securities to be redeemed and the Redemption Price. 

        The
Company shall give the notice to the Trustee of its intention to exercise its right to redeem the Securities as provided for in this Section 3.1 by a Company Order at least
ten (10) Business Days prior to the day the Redemption Notice is to be mailed. 

        Section 3.2    Selection of Securities to Be Redeemed.    If less than all the Securities are to be redeemed,
unless the procedures of the Depositary provide otherwise, the Trustee shall select the Securities to be redeemed by lot, on a pro rata basis or by another method the Trustee considers fair and
appropriate (so long as such method is not prohibited by the rules of any stock exchange on which the Securities are then listed). The Trustee shall make the selection within five Business Days after
it receives the notice provided for in Section 3.1 from outstanding Securities not previously called for redemption. The Trustee may select for redemption portions of the principal amount of
Securities that have denominations larger than $1,000. 

        Securities
and portions of Securities that the Trustee selects shall be in principal amounts of $1,000 or an integral multiple of $1,000. Provisions of this Indenture that apply to
Securities called for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Company promptly of the Securities or portions of the Securities to be
redeemed. 

        Securities
and portions of Securities that are to be redeemed are convertible by the Holder until the close of business on the second Business Day prior to the Redemption Date unless the
Company fails to pay the Redemption Price on the Redemption Date. If any Security selected for partial redemption is converted in part before termination of the conversion 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 during a
selection of Securities to be redeemed may be treated by the Trustee as outstanding for the purpose of such selection. 

        Section 3.3    Notice of Redemption.    At least 20 days but not more than 60 days before a
Redemption Date, the Company shall mail a notice of redemption by first-class mail, postage prepaid, to each Holder of Securities to be redeemed. 

        The
notice shall identify the Securities to be redeemed and shall state: 

	(1)
	the
Redemption Date;

	(2)
	the
Redemption Price;

	(3)
	the
Conversion Price;

	(4)
	the
name and address of the Paying Agent and Conversion Agent;

	(5)
	that
Securities called for redemption may be converted at any time before the close of business on the second Business Day prior to the Redemption Date; 

17

 

	(6)
	that
Holders who wish to convert their Securities must satisfy the requirements set forth in Section 8 of the Securities;

	(7)
	that
Securities called for redemption must be surrendered to the Paying Agent to collect the Redemption Price;

	(8)
	if
fewer than all of the outstanding Securities are to be redeemed, the certificate numbers, if any, and principal amounts of the particular Securities to be redeemed;

	(9)
	that,
unless the Company defaults in making payment of such Redemption Price, interest, including Additional Amounts, if any, on Securities called for redemption will cease to accrue
interest on and after the Redemption Date; and

	(10)
	the
CUSIP number(s) of the Securities. 

        At
the Company's request, the Trustee shall give the notice of redemption in the Company's name and at the Company's expense, provided that the Company makes such request at least ten
Business Days prior to the date by which such notice of redemption is to be given to Holders in accordance with this Section 3.3, unless the Trustee agrees to a shorter period. 

        Section 3.4    Effect of Notice of Redemption.    Once notice of redemption is given, Securities called for
redemption become due and payable on the Redemption Date and at the Redemption Price stated in the notice except for Securities which are converted in accordance with the terms of this Indenture. Upon
surrender to the Paying Agent, such Securities shall be paid at the Redemption Price stated in the notice. 

        Section 3.5    Deposit of Redemption Price.    Prior to 10:00 a.m., New York City time, on the
Redemption Date, the Company shall deposit with the Paying Agent (or if the Company or a Subsidiary or an Affiliate of either of them is the Paying Agent, shall segregate and hold in trust) money
sufficient to pay the applicable Redemption Price of all Securities to be redeemed on that date other than Securities or portions of Securities called for redemption which on or prior thereto have
been delivered by the Company to the Trustee for cancellation or have been converted. The Paying Agent shall as promptly as practicable return to the Company any money not required for that purpose
because of conversion of Securities pursuant to Article IX. If such money is then held by the Company in trust and is not required for such purpose, it shall be discharged from such trust. 

        Section 3.6    Securities Redeemed in Part.    Upon surrender of a Security that is redeemed in part, the
Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Security in an authorized denomination equal in principal amount to the unredeemed portion of the Security
surrendered. 

        Section 3.7    Purchase of Securities at Option of the Holder upon Change of Control.    (a) (1) If a
Change of Control occurs (subject to certain exceptions set forth below), the Securities not previously purchased by the Company shall be purchased by the Company for cash, at the option of the Holder
thereof, at a purchase price specified in Section 6 of the Securities (the "Change of Control Purchase Price"), as of the date that is between 30 and 60 days after the date of a notice
of Change of Control delivered by the Company pursuant to Section 3.7(b) (the "Change of Control Purchase Date"), subject to satisfaction by or on behalf of the Holder of the requirements set
forth in Section 3.7(c). 

        A
"Change of Control" will be deemed to have occurred at such time after the Securities are originally issued when any of the following events shall occur: 

          (i)  the
acquisition by any Person, including any syndicate or group deemed to be a "person" under Section 13(d)(3) of the Exchange Act, of beneficial ownership,
directly or indirectly, through a purchase, merger or other acquisition transaction or series of purchases, mergers or other acquisition transactions of shares of the Capital Stock of the Company
entitling that Person to 

18

 

exercise
50% or more of the total voting power of all shares of the Capital Stock of the Company entitled to vote generally in elections of directors, other than any acquisition by the Company, any of
its subsidiaries or any of its employee benefit plans; or 

         (ii)  the
first day on which a majority of the members of the board of directors of the Company does not consist of Continuing Directors; or 

        (iii)  the
Company consolidates or merges with or into any other Person, any merger of another Person into the Company, or any conveyance, transfer, sale, lease or other
disposition of all or substantially all of the Company's properties and assets to another Person, other than: (A) any transaction: (1) that does not result in any reclassification,
conversion, exchange or cancellation of outstanding shares of the Company's Capital Stock; and (2) pursuant to which the holders of 50% or more of the total voting power of the Company's
Capital Stock entitled to vote generally in elections of directors immediately prior to the transaction have the entitlement to exercise, directly or indirectly, 50% or more of the total voting power
of all shares of Capital Stock entitled to vote generally in elections of directors of the continuing or surviving Person immediately after giving effect to such issuance; and (B) any merger
primarily for the purpose of changing the Company's jurisdiction of incorporation and resulting in a
reclassification, conversion or exchange of outstanding shares of Common Stock, if at all, solely into shares of common stock of the surviving entity. 

        A
"Continuing Director" shall mean, as of any date of determination, any member of the Board of Directors who: 

          (i)  was
a member of the Board of Directors of the Company on April 14, 2004; or 

         (ii)  was
nominated for election or elected to the Board of Directors with the approval of a majority of the Continuing Directors who were members of the Board of Directors
at the time of the new director'ss nomination or election. 

        (2)   Notwithstanding
the provisions of Section 3.7(a)(1), the Company shall not be required to purchase the Securities of the Holders upon a Change of Control pursuant
to this Section 3.7 (and a Change of Control shall be deemed not to have occurred) if: 

	(i)
	the
Sale Price per share of Common Stock for any five Trading Days within (1) the period of 10 consecutive Trading Days ending immediately after the later of the
Change of Control or the public announcement of the Change of Control, in the case of a Change of Control under clause (i) or (ii) of the definition of "Change of Control" above, or
(2) the period of 10 consecutive Trading Days ending immediately before the Change of Control, in the case of a Change of Control under clause (iii) of the definition of "Change of
Control" above, equals or exceeds 110% of the Conversion Price of the Securities in effect on each of those five Trading Days; or

	(ii)
	90%
or more of the consideration in the transaction or transactions (other than cash payments for fractional shares and cash payments made in respect of dissenters'
appraisal rights) constituting a Change of Control consists of shares of common stock traded or to be traded immediately following a Change of Control on a national securities exchange or the Nasdaq
Stock Market, Inc., and, as a result of the transaction or transactions, the Securities become convertible solely into that common stock (and any rights attached thereto). 

For
the purposes of this Section 3.7, (x) whether a Person is a "beneficial owner" shall be determined in accordance with Rule 13d-3 and Rule 13d-5
under the Exchange Act (except that any of those Persons shall be deemed to have beneficial ownership of all securities it has the right to acquire, whether the right is currently exercisable or is
exercisable only upon the occurrence of a subsequent 

19

 

condition)
and (y) the term "Person" includes any syndicate or group that would be deemed to be a "person" under Section 13(d)(3) of the Exchange Act. 

        (b)   No
later than 30 days after the occurrence of a Change of Control, the Company shall mail a written notice of the Change of Control by first class mail to the
Trustee and to each Holder (and to beneficial owners as required by applicable law). The notice shall include a form of Change of Control Purchase Notice to be completed by the Holder and shall state: 

	(1)
	briefly,
the events causing a Change of Control and the date of such Change of Control;

	(2)
	the
date by which the Change of Control Purchase Notice pursuant to this Section 3.7 must be delivered to the Paying Agent in order for a Holder to exercise the repurchase
rights;

	(3)
	the
Change of Control Purchase Date;

	(4)
	the
Change of Control Purchase Price;

	(5)
	the
name and address of the Paying Agent and the Conversion Agent;

	(6)
	the
Conversion Price and any adjustments thereto;

	(7)
	that
the Securities as to which a Change of Control Purchase Notice has been given may be converted if they are otherwise convertible pursuant to Article X hereof only if the
Change of Control Purchase Notice has been withdrawn in accordance with the terms of this Indenture;

	(8)
	that
the Securities must be surrendered to the Paying Agent to collect payment;

	(9)
	that
the Change of Control Purchase Price for any Security as to which a Change of Control Purchase Notice has been duly given and not withdrawn will be paid promptly following the
later of the Change of Control Purchase Date and the time of surrender of such Security as described in clause (8) above;

	(10)
	briefly,
the procedures the Holder must follow to exercise rights under this Section 3.7;

	(11)
	briefly,
the conversion rights of the Securities;

	(12)
	the
procedures for withdrawing a Change of Control Purchase Notice;

	(13)
	that,
unless the Company defaults in making payment of such Change of Control Purchase Price, interest, if any, on Securities surrendered for purchase by the Company will cease to
accrue on and after the Change of Control Purchase Date; and

	(14)
	the
CUSIP number(s) of the Securities. 

        Without
otherwise limiting the Company's obligations pursuant to this Section 3.7 in any way, the Company shall also issue a press release through Dow Jones &
Company, Inc. or Bloomberg Business News containing the relevant information and otherwise make this information available on the Company's web site or through another public medium as the
Company may use at that time. 

        (c)   A
Holder may exercise its rights specified in Section 3.7(a) upon delivery of a written notice of purchase (a "Change of Control Purchase Notice") to the Paying
Agent at any time on or prior to the close of business on the second Business Day preceding the Change of Control Purchase Date (unless the Company shall specify a later date), specifying: 

	(1)
	the
certificate number of the Security which the Holder will deliver to be purchased or the appropriate depositary procedures if Certificated Securities have not been issued;

	(2)
	the
portion of the principal amount of the Security which the Holder will deliver to be purchased, which portion must be $1,000 or an integral multiple of $1,000; and 

20

 

	(3)
	that
such Security shall be purchased pursuant to the terms and conditions specified in Section 6 of the Securities and in this Indenture. 

        The
delivery of such Security to the Paying Agent with the Change of Control Purchase Notice (together with all necessary endorsements) at the offices of the Paying Agent shall be a
condition to the receipt by the Holder of the Change of Control Purchase Price therefor; provided, however, that such Change of Control Purchase Price shall be so paid pursuant to this
Section 3.7 and Section 3.8 only if the Security so delivered to the Paying Agent shall conform in all respects to the description thereof set forth in the related Change of Control
Purchase Notice. 

        The
Company shall purchase from the Holder thereof, pursuant to this Section 3.7 and Section 3.8, a portion of a Security if the principal amount of such portion is $1,000
or an integral multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a Security also apply to the purchase of such portion of such Security. 

        Any
purchase by the Company contemplated pursuant to the provisions of this Section 3.7 and Section 3.8 shall be consummated by the delivery of the consideration to be
received by the Holder. 

        Notwithstanding
anything herein to the contrary, any Holder delivering to the Paying Agent the Change of Control Purchase Notice contemplated by this Section 3.7(c) shall have the
right to withdraw such Change of Control Purchase Notice at any time prior to the close of business on the last Business Day immediately preceding the Change of Control Purchase Date by delivery of a
written notice of withdrawal to the Paying Agent in accordance with Section 3.8. 

        The
Paying Agent shall promptly notify the Company of the receipt by it of any Change of Control Purchase Notice or written withdrawal thereof. 

        Section 3.8    Effect of Change of Control Purchase Notice; Withdrawal.    Upon receipt by the Paying Agent of
the Change of Control Purchase Notice specified in Section 3.7(c), the Holder of the Security in respect of which such Change of Control Purchase Notice was given shall (unless such Change of
Control Purchase Notice is withdrawn as specified in the following two paragraphs) thereafter be entitled to receive solely the Change of Control Purchase Price with respect to such Security. Such
Change of Control Purchase Price shall be paid to such Holder, subject to the receipt of funds by the Paying Agent, promptly following the later of (x) the Change of Control Purchase Date with
respect to such Security (provided the conditions in Section 3.7(c) have been satisfied) and (y) the time of delivery of such Security to the Paying Agent by the Holder thereof in the
manner required by Section 3.7(c). Securities in respect of which a Change of Control Purchase Notice has been given by the Holder thereof may not be converted pursuant to Article IX
hereof on or after the date of the delivery of such Change of Control Purchase Notice unless such Change of Control Purchase Notice has first been validly withdrawn as specified in the following two
paragraphs. 

        A
Change of Control Purchase Notice may be withdrawn by means of a written notice of withdrawal delivered to the office of the Paying Agent in accordance with the Change of Control
Purchase Notice, at any time prior to the close of business on the Change of Control Purchase Date, specifying: 

	(1)
	the
certificate number, if any, of the Security in respect of which such notice of withdrawal is being submitted,

	(2)
	the
principal amount of the Security with respect to which such notice of withdrawal is being submitted, and

	(3)
	the
principal amount, if any, of such Security which remains subject to the original Change of Control Purchase Notice, and which has been or will be delivered for purchase by the
Company. 

21

 

        There
shall be no purchase of any Securities pursuant to Section 3.7 if there has occurred (prior to, on or after, as the case may be, the giving, by the Holders of such
Securities, of the required Change of Control Purchase Notice) and is continuing an Event of Default (other than a default in the payment of the Change of Control Purchase Price with respect to such
Securities). The Paying Agent will promptly return to the respective Holders thereof any Securities (x) with respect to which a Change of Control Purchase Notice has been withdrawn in
compliance with this Indenture, or (y) held by it during the continuance of an Event of Default (other than a default in the payment of the Change of Control Purchase Price with respect to such
Securities) in which case, upon such return, the Change of Control Purchase Notice with respect thereto shall be deemed to have been withdrawn. 

        Section 3.9    Deposit of Change of Control Purchase Price.    Prior to 10:00 a.m., New York City time,
on the Business Day following the Change of Control Purchase Date, the Company shall deposit with the Trustee or with the Paying Agent (or, if the Company or a Subsidiary or an Affiliate of either of
them is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.4) an amount of cash (in immediately available funds if deposited on such Business Day) sufficient
to pay the aggregate Change of Control Purchase Price of all the Securities or portions thereof which are to be purchased as of the Change of Control Purchase Date. 

        Section 3.10    Securities Purchased in Part.    Any Certificated Security which is to be purchased only in
part shall be surrendered at the office of the Paying Agent (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or such Holder's attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the
Holder of such Security, without service charge, a new Security or Securities, of any authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for,
the portion of the principal amount of the Security so surrendered which is not purchased. 

        Section 3.11    Covenant to Comply With Securities Laws Upon Purchase of Securities.    When complying with the
provisions of Section 3.7 (provided that such offer or purchase constitutes an "issuer tender offer" for purposes of Rule 13e-4 (which term, as used herein, includes any
successor provision thereto) under the Exchange Act at the time of such offer or purchase), and subject to any exemptions available under applicable law, the Company shall (i) comply with
Rule 13e-4 and Rule 14e-1 (or any successor provision) under the Exchange Act, (ii) file the related Schedule TO (or any successor schedule, form or
report) under the Exchange Act, and (iii) otherwise comply with all Federal and state securities laws so as to permit the rights and obligations under Section 3.7 to be exercised in the
time and in the manner specified in Section 3.7. 

        Section 3.12    Repayment to the Company.    The Trustee and the Paying Agent shall return to the Company any
cash that remains unclaimed as provided in Section 11 of the Securities, together with interest or dividends, if any, thereon (subject to the provisions of Section 7.1(f)), held by them
for the payment of the Change of Control Purchase Price; provided, however, that to the extent that the aggregate amount of cash deposited by the Company pursuant to Section 3.9 exceeds the
aggregate Change of Control Purchase Price of the Securities or portions thereof which the Company is obligated to purchase as of the Change of Control Purchase Date, then, unless otherwise agreed in
writing with the Company, promptly after the Business Day following the Change of Control Purchase Date, the Trustee shall return any such excess to the Company together with interest thereon (subject
to the provisions of Section 7.1(f)). 

22

 
ARTICLE IV  

 COVENANTS  

        Section 4.1    Payment of Securities.    The Company shall promptly make all payments in respect of the
Securities on the dates and in the manner provided in the Securities or pursuant to this Indenture. Any amounts of cash to be given to the Trustee or Paying Agent, shall be deposited with the Trustee
or Paying Agent by 10:00 a.m., New York City time, by the Company. Principal amount plus accrued interest, if any, including Additional Amounts, if any, the Redemption Price, the Change of
Control Purchase Price and cash interest, if any, shall be considered paid on the applicable date due if on such date the Trustee or the Paying Agent holds, in accordance with this Indenture, cash
sufficient to pay all such amounts then due. 

        Section 4.2    SEC and Other Reports.    The Company shall file with the Trustee, within 15 days after
it files such annual and quarterly reports, information, documents and other reports with the SEC, copies of its annual report and of the information, documents and other reports (or copies of such
portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. In
the event the Company is at any time no longer subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, it shall continue to provide the Trustee with reports containing
substantially the same information as would have been required to be filed with the SEC had the Company continued to have been subject to such reporting requirements. In such event, such reports shall
be provided at the times the Company would have been required to provide reports had it continued to have been subject to such reporting requirements. The Company also shall comply with the other
provisions of TIA Section 314(a). Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee's receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company's compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely conclusively on Officers' Certificates). 

        Section 4.3    Compliance Certificate.    The Company shall deliver to the Trustee within 120 days after
the end of each fiscal year of the Company (beginning with the fiscal year ending on December 31, 2004) an Officers' Certificate, stating whether or not to the knowledge of the signers thereof,
the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided
hereunder) and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 

23

   
        Section 4.4    Further Instruments and Acts.    Upon request of the Trustee, the Company will execute and
deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture. 

        Section 4.5    Maintenance of Office or Agency.    The Company will maintain in the Borough of Manhattan, the
City of New York, an office or agency of the Trustee, Registrar, Paying Agent and Conversion Agent where Securities may be presented or surrendered for payment, where Securities may be surrendered for
registration of transfer, exchange, purchase, redemption or conversion and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The office of
The Bank of New York, 101 Barclay Street, Floor 21W, New York, New York 10286 (Attention: Corporate Trust Trustee Administration), shall initially be such office or agency for all of the aforesaid
purposes. The Company shall give prompt written notice to the Trustee of the location, and of any change in the location, of any such office or agency (other than a change in the location of the
office of the Trustee). 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 address of the Trustee set forth in Section 10.2. 

        The
Company may also from time to time designate one or more other offices or agencies where the Securities 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 the Borough of
Manhattan, The City of New York, for such purposes. 

        Section 4.6    Delivery of Certain Information.    At any time when the Company is not subject to
Section 13 or 15(d) of the Exchange Act, upon the request of a Holder or any beneficial owner of Securities or holder or beneficial owner of shares of Common Stock issued upon conversion
thereof, the Company will promptly furnish or cause to be furnished Rule 144A Information (as defined below) to such Holder or any beneficial owner of Securities or holder or beneficial owner
of shares of Common Stock, or to a prospective purchaser of any such security designated by any such holder, as the case may be, to the extent required to permit compliance by such Holder or holder
with Rule 144A under the Securities Act in connection with the resale of any such security. "Rule 144A Information" shall be such information as is specified pursuant to
Rule 144A(d)(4) under the Securities Act. Whether a Person is a beneficial owner shall be determined by the Company to the Company's reasonable satisfaction. 

        Section 4.7    Treatment of Securities.    Each Holder, by acceptance of a Security, and beneficial owner, by
acceptance of a beneficial ownership interest in a Security, agrees to treat the Securities as
indebtedness of the Company for U.S. federal income tax purposes and not to take any action inconsistent with such treatment. 

ARTICLE V  

 SUCCESSOR CORPORATION  

        Section 5.1    When Company May Merge or Transfer Assets.    The Company shall not consolidate with or merge
with or into any other Person or convey, transfer, sell, lease or otherwise dispose of all or substantially all of its properties and assets to any Person, unless: 

        (a)   either
(1) the Company shall be the continuing corporation or (2) the Person (if other than the Company) formed by such consolidation or into which the
Company is merged or the Person which acquires by conveyance, transfer or lease all or substantially all of the properties and assets of the Company substantially as an entirety (i) shall be
organized and validly existing under the laws of the United States or any State thereof or the District of Columbia and (ii) shall 

24

 

expressly
assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, all of the obligations of the Company under the Securities
and this Indenture; 

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

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

        For
purposes of the foregoing, the transfer (by lease, assignment (excluding the grant of a security interest but including any foreclosure thereon), sale or otherwise) of the properties
and assets of one or
more Subsidiaries (other than to the Company or another Subsidiary), which, if such assets were owned by the Company, would constitute all or substantially all of the properties and assets of the
Company, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Company. 

        The
successor Person formed by such consolidation or into which the Company is merged or the successor Person to which such conveyance, transfer or lease is made shall succeed to, and be
substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor had been named as the Company herein; and thereafter, except in
the case of a lease and obligations the Company may have under a supplemental indenture, the Company shall be discharged from all obligations and covenants under this Indenture and the Securities.
Subject to Section 8.6, the Company, the Trustee and the successor Person shall enter into a supplemental indenture to evidence the succession and substitution of such successor Person and such
discharge and release of the Company. 

ARTICLE VI  

 DEFAULTS AND REMEDIES  

        Section 6.1    Events of Default.    So long as any Securities are outstanding, each of the following shall be
an "Event of Default": 

        (1)   the
Company defaults in the payment of the principal amount on any Security when the same becomes due and payable at its Stated Maturity; 

        (2)   the
Company defaults in its obligation to repurchase any Security, or any portion thereof, upon the exercise by the Holder of such Holder s right to require the Company
to purchase such Securities pursuant to and in accordance with Section 3.7 hereof; 

        (3)   the
Company defaults in its obligation to redeem any Security, or any portion thereof, called for redemption by the Company pursuant to and in accordance with
Section 3.1 hereof; 

        (4)   the
Company defaults in the payment of any accrued and unpaid interest, including Additional Amounts, if any, on any Security, in each case when due and payable, and
continuance of such default for a period of 30 days; 

        (5)   the
Company fails to comply with any of its covenants or agreements in the Securities or this Indenture (other than those referred to in clauses (1) through
(4) above) and such failure continues for 60 days after receipt by the Company of a Notice of Default; 

25

 

        (6)   a
default under any indebtedness for money borrowed by the Company or any Significant Subsidiary in an aggregate outstanding principal amount of $5.0 million or
more, for a period of 30 days after written notice of default is given to the Company by the Trustee or to the Company and the Trustee by Holders of not less than 25% in aggregate principal
amount of the Securities then outstanding, which default (A) is caused by the failure to pay principal or interest when due on such indebtedness by the end of the applicable grace period, if
any, unless such indebtedness is discharged, or (B) results in the acceleration of such indebtedness, unless such acceleration is waived, cured, rescinded or annulled or unless such
indebtedness is discharged; 

        (7)   the
entry by a court having jurisdiction in the premises of (i) a decree or order for relief in respect of the Company or any of its Subsidiaries that is a
Significant Subsidiary, in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law or (ii) a decree or order adjudging the Company or
any of its Subsidiaries that is a Significant Subsidiary, as bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in
respect of the Company or any of its Subsidiaries that is a Significant Subsidiary, under any applicable law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other
similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any
such other decree or order unstayed and in effect for a period of 60 consecutive days; or 

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

        A
Default under clause (5) above is not an Event of Default until the Trustee notifies the Company, or the Holders of at least 25% in aggregate principal amount of the Securities
at the time outstanding notify the Company and the Trustee, of the Default and the Company does not cure such Default (and such Default is not waived) within the time specified in clause (5)
above after actual receipt of such notice. Any such notice must specify the Default, require that it be remedied and state that such notice is a "Notice of Default." 

        The
Trustee shall, within 90 days of the occurrence of a Default or Event of Default, give to the Holders of the Securities notice of all uncured Defaults or Events of Default
known to it, its status and what action the Company is taking or proposes to take with respect thereto; provided, however, the Trustee shall be protected in withholding such notice if it, in good
faith, determines that the withholding of such notice is in the best interest of such Holders, except in the case of a Default or Event of Default under clause (1), (2), (3) or
(4) above. 

26

 

        Section 6.2    Acceleration.    If an Event of Default (other than an Event of Default specified in
Section 6.1(7) or (8) with respect to the Company) occurs and is continuing (the Event of Default not having been cured or waived as provided in this Article VI), the Trustee by
notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Securities at the time outstanding by notice to the Company and the Trustee, may declare the principal amount
plus accrued and unpaid interest, including Additional Amounts, if any, on all the Securities to be immediately due and payable. Upon such a declaration, such accelerated amount shall be due and
payable immediately. If an Event of Default specified in Section 6.1(7) or (8) occurs (with respect to the Company) and is continuing, the principal amount plus accrued and unpaid
interest, including Additional Amounts, if any, on all the Securities shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any
Securityholders. The Holders of a majority in aggregate principal amount of the Securities at the time outstanding, by notice to the Trustee (and without notice to any other Securityholder) may
rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of the
principal amount plus accrued and unpaid interest, including Additional Amounts, if any, that have become due solely as a result of acceleration and if all amounts due to the Trustee under
Section 7.7 have been paid. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 

        Section 6.3    Other Remedies.    If an Event of Default occurs and is continuing, the Trustee may pursue any
available remedy to collect the payment of the principal amount plus accrued and unpaid interest,
including Additional Amounts, if any, on the Securities or to enforce the performance of any provision of the Securities or this Indenture. 

        The
Trustee may maintain a proceeding even if the Trustee does not possess any of the Securities or does not produce any of the Securities in the proceeding. A delay or omission by the
Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of, or acquiescence in, the Event of
Default. No remedy is exclusive of any other remedy. All available remedies are cumulative. 

        Section 6.4    Waiver of Past Defaults.    The Holders of a majority in aggregate principal amount of the
Securities at the time outstanding, by notice to the Trustee (and without notice to any other Securityholder), may waive an existing Default and its consequences except (i) an Event of Default
described in Section 6.1(1), 6.1(2), 6.1(3) or 6.1(4), (ii) a Default in respect of a provision that under Section 8.2 cannot be amended without the consent of each Securityholder
affected or (iii) a Default which constitutes a failure to convert any Security in accordance with the terms of Article IX. When a Default is waived, it is deemed cured, but no such
waiver shall extend to any subsequent or other Default or impair any consequent right. This Section 6.4 shall be in lieu of Section 316(a)(1)(B) of the TIA and such
Section 316(a)(1)(B) is hereby expressly excluded from this Indenture, as permitted by the TIA. 

        Section 6.5    Control by Majority.    The Holders of a majority in aggregate principal amount of the
Securities at the time outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the
Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or that the Trustee determines in good faith is unduly prejudicial to the rights of other
Securityholders or would involve the Trustee in personal liability unless the Trustee is offered indemnity satisfactory to it. This Section 6.5 shall be in lieu of Section 316(a)(1)(A)
of the TIA and such Section 316(a)(1)(A) is hereby expressly excluded from this Indenture, as permitted by the TIA. 

        Section 6.6    Limitation on Suits.    A Securityholder may not pursue any remedy with respect to this
Indenture or the Securities unless: 

	(1)
	the
Holder gives to the Trustee written notice stating that an Event of Default is continuing; 

27

 

	(2)
	the
Holders of at least 25% in aggregate principal amount of the Securities at the time outstanding make a written request to the Trustee to pursue the remedy;

	(3)
	such
Holder or Holders offer to the Trustee security or indemnity satisfactory to the Trustee against any loss, liability or expense;

	(4)
	the
Trustee does not comply with the request within 60 days after receipt of such notice, request and offer of security or indemnity; and

	(5)
	the
Holders of a majority in aggregate principal amount of the Securities at the time outstanding do not give the Trustee a direction inconsistent with the request during such
60-day period. 

        A
Securityholder may not use this Indenture to prejudice the rights of any other Securityholder or to obtain a preference or priority over any other Securityholder. 

        Section 6.7    Rights of Holders to Receive Payment.    Notwithstanding any other provision of this Indenture,
the right of any Holder to receive payment of the principal amount, Redemption Price, Change of Control Purchase Price or interest, including Additional Amounts, if any, in respect of the Securities
held by such Holder, on or after the respective due dates expressed in the Securities or any Redemption Date, and to convert the Securities in accordance with Article IX, or to bring suit for
the enforcement of any such payment on or after such respective dates or the right to convert, shall not be impaired or affected adversely without the consent of such Holder. 

        Section 6.8    Collection Suit by Trustee.    If an Event of Default described in Section 6.1(1), (2),
(3) or (4) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount owing with respect to
the Securities and the amounts provided for in Section 7.7. 

        Section 6.9    Trustee May File Proofs of Claim.    In case of the pendency of any receivership, insolvency,
liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the
Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal amount, Redemption Price, Change of Control Purchase Price or interest, including Additional
Amounts, if any, in respect 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 such amount) shall be entitled and empowered, by intervention in such proceeding or otherwise, 

        (a)   to
file and prove a claim for the whole amount of the principal amount, Redemption Price, Change of Control Purchase Price, or interest, including Additional Amounts, if
any, and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel or any other amounts due the Trustee under Section 7.7) and of the Holders allowed in such judicial proceeding, and 

        (b)   to
collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent
to the making of such payments directly to the Holders, to pay the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and any other amounts due the Trustee under Section 7.7. 

        Nothing
herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or 

28

 

composition
affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

        Section 6.10    Priorities.    If the Trustee collects any money pursuant to this Article VI, it shall
pay out the money in the following order: 

        FIRST:
to the Trustee for amounts due under Section 7.7; 

        SECOND:
to Securityholders for amounts due and unpaid on the Securities for the principal amount, Redemption Price, Change of Control Purchase Price or interest, including Additional
Amounts, if any, as the case may be, ratably, without preference or priority of any kind, according to such amounts due and payable on the Securities; and 

        THIRD:
the balance, if any, to the Company. 

        The
Trustee may fix a record date and payment date for any payment to Securityholders pursuant to this Section 6.10. At least 15 days before such record date, the Trustee
shall mail to each Securityholder and the Company a notice that states the record date, the payment date and the amount to be paid. 

        Section 6.11    Undertaking for Costs.    In any suit for the enforcement of any right or remedy under this
Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant (other than the Trustee) in the
suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys' fees and expenses, against any party litigant in the
suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant
to Section 6.7 or a suit by Holders of more than 10% in aggregate principal amount of the Securities at the time outstanding. This Section 6.11 shall be in lieu of Section 315(e)
of the TIA and such Section 315(e) is hereby expressly excluded from this Indenture, as permitted by the TIA. 

        Section 6.12    Waiver of Stay, Extension or Usury Laws.    The Company covenants (to the extent that it may
lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury or other law wherever
enacted, now or at any time hereafter in force, which would prohibit or forgive the Company from paying all or any portion of the principal amount, Redemption Price or Change of Control Purchase Price
in respect of Securities, or any interest, including Additional Amounts, if any, on such amounts, as contemplated herein, or which may affect the covenants or the performance of this Indenture; and
the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any
power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

29

   ARTICLE VII  

 TRUSTEE  

        Section 7.1    Duties of Trustee.    (a) If an Event of Default has occurred and is continuing, the
Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances
in the conduct of such person's own affairs. 

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

	(1)
	the
Trustee need perform only those duties that are specifically set forth in this Indenture and no others; and

	(2)
	in
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates
or opinions furnished to the Trustee and conforming to the requirements of this Indenture, but in the case of any such certificates or opinions which by any provision hereof are specifically required
to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture, but need not confirm or
investigate the accuracy of mathematical calculations or other facts stated therein. This Section 7.1(b) shall be in lieu of Section 315(a) of the TIA and such Section 315(a) is
hereby expressly excluded from this Indenture, as permitted by the TIA. 

        (c)   The
Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 

	(1)
	this
Section (c) does not limit the effect of Section (b) of this Section 7.1;

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

	(3)
	the
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.5.
Subparagraphs(c)(1), (2) and (3) shall be in lieu of Sections 315(d)(1), 315(d)(2) and 315(d)(3) of the TIA and such Sections 315(d)(1), 315(d)(2) and 315(d)(3) are hereby expressly
excluded from this Indenture, as permitted by the TIA. 

        (d)   Every
provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), (c), (e) and (f) of this Section 7.1. 

        (e)   The
Trustee may refuse to perform any duty or exercise any right or power or extend or risk its own funds or otherwise incur any financial liability unless it receives
indemnity satisfactory to it against any loss, liability or expense. 

        (f)    Money
held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee (acting in any capacity hereunder)
shall be under no liability for interest on any money received by it hereunder unless otherwise agreed in writing with the Company. 

        Section 7.2    Rights of Trustee.    Subject to its duties and responsibilities under the TIA, 

        (a)   the
Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or 

30

 

document
believed by it to be genuine and to have been signed or presented by the proper party or parties; 

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

        (c)   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; 

        (d)   the
Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith which it believes to be authorized or within its rights or
powers conferred under this Indenture; 

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

        (f)    the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Holders,
pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which may be
incurred therein or thereby; 

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

        (h)   the
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the
Company, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation; 

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

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

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

31

 

        (l)    the
Trustee may request that the Company deliver an Officers' Certificate setting forth the names of individuals and/or titles of officers authorized at such time to
take specified actions pursuant to this Indenture, which Officers' Certificate may be signed by any Person authorized to sign an Officers' Certificate, including any Person specified as so authorized
in any such certificate previously delivered and not superseded. 

        Section 7.3    Individual Rights of Trustee.    The Trustee in its individual or any other capacity may become
the owner or pledgee of Securities and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar, Conversion Agent or
co-registrar may do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 

        Section 7.4    Trustee's Disclaimer.    The Trustee makes no representation as to the validity or adequacy of
this Indenture or the Securities, it shall not be accountable for the Company's use or application of the proceeds from the Securities, it shall not be responsible for any statement in the
registration statement for the Securities under the Securities Act or in any offering document for the Securities, the Indenture or the Securities (other than its certificate of authentication), or
the determination as to which beneficial owners are entitled to receive any notices hereunder. 

        Section 7.5    Notice of Defaults.    If a Default occurs and if it is known to the Trustee, the Trustee shall
give to each Securityholder notice of the Default within 90 days after it occurs or, if later, within 15 days after it is known to the Trustee, unless such Default shall have been cured
or waived before the giving of such notice. Notwithstanding the preceding sentence, except in the case of a Default described in Section 6.1(1), (2), (3) or (4), the Trustee may withhold
the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interest of the Securityholders. The preceding sentence shall be in
lieu of the proviso to Section 315(b) of the TIA and such proviso is hereby expressly excluded from this Indenture, as permitted by the TIA. The Trustee shall not be deemed to have knowledge of
a Default unless a Responsible Officer of the Trustee has
received written notice of such Default, which notice specifically references this Indenture and the Securities. 

        Section 7.6    Reports by Trustee to Holders.    Within 60 days after each May 15 beginning with
the May 15 following the date of this Indenture, the Trustee shall mail to each Securityholder a brief report dated as of such May 15 that complies with TIA Section 313(a), if
required by such Section 313(a). The Trustee also shall comply with TIA Section 313(b). 

        A
copy of each report at the time of its mailing to Securityholders shall be filed with the SEC and each securities exchange, if any, on which the Securities are listed. The Company
agrees to notify the Trustee promptly whenever the Securities become listed on any securities exchange and of any delisting thereof. 

        Section 7.7    Compensation and Indemnity.    The Company agrees: 

        (a)   to
pay to the Trustee from time to time such compensation as the Company and the Trustee shall from time to time agree in writing for all services rendered by it
hereunder (which compensation shall not be limited (to the extent permitted by law) by any provision of law in regard to the compensation of a trustee of an express trust); 

        (b)   to
reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of
this Indenture (including the reasonable compensation and the expenses, 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; and 

32

 

        (c)   to
indemnify the Trustee or any predecessor Trustee and their agents for, and to hold them harmless against, any loss, damage, claim, liability, cost or expense
(including attorney's fees and expenses, and taxes (other than taxes based upon, measured by or determined by the income of the Trustee and any and all franchise taxes of the Trustee)) incurred
without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of defending itself against any claim
(whether asserted by the Company or any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder. 

        To
secure the Company's payment obligations in this Section 7.7, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee,
except that held in trust to pay the principal amount, Redemption Price, Change of Control Purchase Price or interest, including Additional Amounts, if any, as the case may be, on particular
Securities. 

        The
Company's payment obligations pursuant to this Section 7.7 shall survive the discharge of this Indenture and the resignation or removal of the Trustee. When the Trustee incurs
expenses or renders services after the occurrence of a Default specified in Section 6.1(6) or (7), the expenses including the reasonable charges and expenses of its counsel, and the
compensation for the services are intended to constitute expenses of administration under any bankruptcy law. 

        Section 7.8    Replacement of Trustee.    The Trustee may resign by so notifying the Company; provided,
however, no such resignation shall be effective until a successor Trustee has accepted its appointment pursuant to this Section 7.8. The Holders of a majority in aggregate principal amount of
the Securities at the time outstanding may remove the Trustee by so notifying the Trustee and the Company. The Company shall remove the Trustee if: 

	(1)
	the
Trustee fails to comply with Section 7.10;

	(2)
	the
Trustee is adjudged bankrupt or insolvent;

	(3)
	a
receiver or public officer takes charge of the Trustee or its property; or

	(4)
	the
Trustee otherwise becomes incapable of acting. 

        If
the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint, by resolution of its Board of Directors, a
successor Trustee. 

        A
successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company satisfactory in form and substance to the retiring Trustee and the
Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this
Indenture. The successor Trustee shall
mail a notice of its succession to Securityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in
Section 7.7. 

        If
a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in
aggregate principal amount of the Securities at the time outstanding may petition any court of competent jurisdiction at the expense of the Company for the appointment of a successor Trustee. 

        If
the Trustee fails to comply with Section 7.10, any Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a
successor Trustee. 

        Section 7.9    Successor Trustee by Merger.    If the Trustee consolidates with, merges or converts into, or
transfers all or substantially all its corporate trust business or assets to, another corporation, the resulting, surviving or transferee corporation without any further act shall be the successor
Trustee. 

33

 

        Section 7.10    Eligibility; Disqualification.    The Trustee shall at all times satisfy the requirements of
TIA Sections 310(a)(1) and 310(b). The Trustee (or its parent holding company) shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report
of condition. Nothing herein contained shall prevent the Trustee from filing with the Commission the application referred to in the penultimate paragraph of TIA Section 310(b). 

        Section 7.11    Preferential Collection of Claims Against Company.    The Trustee shall comply with TIA
Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent
indicated therein. 

        Section 7.12    Force Majeure.    In no event shall the Trustee be responsible or liable for any failure or
delay in the performance of its obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of god, and interruptions, loss or malfunctions or utilities, communications or
computer (software or hardware) services. 

ARTICLE VIII  

 AMENDMENTS  

        Section 8.1    Without Consent of Holders.    The Company and the Trustee may amend, modify or supplement this
Indenture or the Securities without the consent of any Securityholder to: 

        (a)   add
to the covenants of the Company for the benefit of the Holders of Securities; 

        (b)   surrender
any right or power herein conferred upon the Company; 

        (c)   provide
for conversion rights of Holders of Securities if any reclassification or change of the Common Stock or any consolidation, merger or sale of all or substantially
all of the Company's assets occurs; 

        (d)   provide
for the assumption of the Company's obligations to the Holders of Securities in the case of a merger, consolidation, conveyance, transfer or lease pursuant to
Article V hereof; 

        (e)   reduce
the Conversion Price; provided, however: (i) that the Conversion Price shall not be reduced below $10.37, (ii) that such reduction in the Conversion
Price shall not adversely affect the interests of the Holders of Securities (after taking into account tax and other consequences of such reduction), and (iii) that the Conversion Price shall
not be reduced without seeking and obtaining the consent of the holders of the Common Stock, if such consent is required pursuant to the rules of the Nasdaq Stock Market, Inc. or any exchange
or other market on which the Common Stock is then listed or traded; 

        (f)    comply
with the requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 

        (g)   cure
any ambiguity, to correct or supplement any provision herein which may be inconsistent with any other provision herein or which is otherwise defective; provided,
however, that such action pursuant to this clause (g) does not, in the good faith opinion of the Board of Directors of the Company (as
evidenced by a Board Resolution), adversely affect the interests of the Holders of Securities in any material respect; and 

        (h)   add
or modify any other provisions herein with respect to matters or questions arising hereunder which the Company and the Trustee may deem necessary or desirable and
that will not, in the good faith opinion of the Board of Directors of the Company (as evidenced by a Board Resolution), adversely affect the interests of the Holders of Securities. 

34

 

        Section 8.2    With Consent of Holders.    Except as provided below in this Section 8.2, this Indenture
or the Securities may be amended, modified or supplemented, and noncompliance in any particular instance with any provision of this Indenture or the Securities may be waived, in each case with the
written consent of the Holders of at least a majority of the principal amount of the Securities at the time outstanding. 

        Without
the written consent or the affirmative vote of each Holder of Securities affected thereby, an amendment or waiver under this Section 8.2 may not: 

        (a)   change
the maturity of the principal amount of, or the date any installment of interest, including Additional Amounts, is due on, any Security; 

        (b)   reduce
the principal amount of, or interest, including Additional Amounts payable on, or the Redemption Price or Change of Control Purchase Price of, any Security; 

        (c)   change
the currency of any amount owed or owing under the Security or any interest thereon from U.S. Dollars; 

        (d)   impair
the right of any Holder to institute suit for the enforcement of any payment or with respect to, or conversion of, any Security; 

        (e)   modify
the obligation of the Company to maintain an office or agency in The City of New York pursuant to Section 4.5; 

        (f)    except
as otherwise permitted or contemplated by the provisions of this Indenture, adversely affect the repurchase right of the Holders of the Securities as provided in
Article III or the right of the Holders of the Securities to convert any Security as provided in Article IX; 

        (g)   modify
the provisions of Article V in a manner adverse to the Holders of the Securities; 

        (h)   modify
any of the provisions of this Section 8.2, or reduce the principal amount of outstanding Securities required to waive a default, except 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 

        (i)    reduce
the percentage of the principal amount of the outstanding Securities the consent of whose Holders is required for any such supplemental indenture or the consent
of whose Holders is required for any waiver provided for in this Indenture. 

        It
shall not be necessary for the consent of the Holders under this Section 8.2 to approve the particular form of any proposed amendment, but it shall be sufficient if such
consent approves the substance thereof. 

        After
an amendment under this Section 8.2 becomes effective, the Company shall mail to each Holder a notice briefly describing the amendment. 

        Nothing
in this Section 8.2 shall impair the ability of the Company and the Trustee to amend this Indenture or the Securities without the consent of any Securityholder to provide
for the assumption of the Company's obligations to the Holders of Securities in the case of a merger, consolidation, conveyance, transfer or lease pursuant to Article V hereof. 

        Section 8.3    Compliance with Trust Indenture Act.    Every supplemental indenture executed pursuant to this
Article shall comply with the TIA. 

        Section 8.4    Revocation and Effect of Consents, Waivers and Actions.    Until an amendment, waiver or other
action by Holders becomes effective, a consent thereto by a Holder of a Security hereunder is a continuing consent by the Holder and every subsequent Holder of that Security or portion of the Security
that evidences the same obligation as the consenting Holder s Security, even if notation of the consent, waiver or action is not made on the Security. However, any such Holder or subsequent Holder may
revoke the consent, waiver or action as to such Holder's Security or portion of the Security if the
Trustee receives the notice of revocation before the date the amendment, waiver or action becomes effective. After an amendment, waiver or action becomes effective, it shall bind every Securityholder. 

35

   
        Section 8.5    Notation on or Exchange of Securities.    Securities authenticated and delivered after the
execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such
supplemental indenture. If the Company shall so determine, new Securities so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any such supplemental indenture may be
prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for outstanding Securities. 

        Section 8.6    Trustee to Sign Supplemental Indentures.    The Trustee shall sign any supplemental indenture
authorized pursuant to this Article VIII if the amendment contained therein does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may,
but need not, sign such supplemental indenture. In signing such supplemental indenture the Trustee shall receive, and (subject to the provisions of Section 7.1) shall be fully protected in
relying upon, an Officers' Certificate and an Opinion of Counsel stating that such amendment is authorized or permitted by this Indenture. 

        Section 8.7    Effect of Supplemental Indentures.    Upon the execution of any supplemental indenture under
this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities
theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

ARTICLE IX  

 CONVERSIONS  

        Section 9.1    Conversion Privilege.    (a) Subject to and upon compliance with the provisions of this
Article IX, a Holder of a Security shall have the right, at such Holder's option, to convert all or any portion (if the portion to be converted is $1,000 or an integral multiple of $1,000) of
such Security into shares of Common Stock at the Conversion Price in effect on the date of conversion, at any time prior to the close of business on the Business Day prior to the Stated Maturity of
the Securities. 

        Section 9.2    Conversion Procedure; Conversion Price; Fractional Shares.    (a) Each Security shall be
convertible at the office of the Conversion Agent into fully paid and nonassessable shares (calculated to the nearest 1/100th of a share) of Common Stock. The Security will be converted into shares of
Common Stock at the Conversion Price therefor. No payment or adjustment shall be made in respect of dividends on the Common Stock or accrued interest on a converted Security, except as described in
Section 9.9 hereof. The Company shall not issue any fraction of a share of Common Stock in connection with any conversion of Securities, but instead shall, subject to Section 9.3(k)
hereof, make a cash payment (calculated to the nearest cent) equal to such fraction multiplied by the Sale Price of the Common Stock on the last Trading Day prior to the date of conversion.
Notwithstanding the foregoing, a Security in respect of which a Holder has delivered a Change of Control Purchase Notice exercising such Holder's option to require the Company to repurchase such
Security may be converted only if such notice of exercise is withdrawn in accordance with the Section 3.8 hereof. 

        (b)   Before
any Holder of a Security shall be entitled to convert the same into Common Stock, such Holder shall, in the case of Global Securities, comply with the procedures
of the Depositary in effect at that time, and in the case of Certificated Securities, surrender such Securities, duly endorsed to the Company or in blank, at the office of the Conversion Agent, and
shall give written notice to the Company at said office or place that such Holder elects to convert the same and shall state in writing therein the principal amount of Securities to be converted and
the name or names (with addresses) in which such Holder wishes the certificate or certificates for Common Stock to be issued. 

36

 

        Before
any such conversion, a Holder also shall pay all funds required, if any, relating to interest on the Securities, as provided in Section 9.9, and all taxes or duties, if
any, as provided in Section 9.8. 

        If
more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares of Common Stock which shall be deliverable upon conversion shall
be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof to the extent permitted thereby) so surrendered. Subject to the next succeeding sentence,
the Company will, as soon as practicable thereafter, issue and deliver at said office or place to such Holder of a Security, or to such Holder's nominee or nominees, certificates for the number of
full shares of Common Stock to which such Holder shall be entitled as aforesaid, together with cash in lieu of any fraction of a share to which such Holder would otherwise be entitled. The Company
shall not be required to deliver certificates for shares of Common Stock while the stock transfer books for such stock or the security register are duly closed for any purpose, but certificates for
shares of Common Stock shall be issued and delivered as soon as practicable after the opening of such books or security register. 

        (c)   A
Security shall be deemed to have been converted as of the close of business on the date of the surrender of such Securities for conversion as provided above, and the
Person or Persons entitled to receive the Common Stock issuable upon such conversion shall be treated for all purposes as the record Holder or Holders of such Common Stock as of the close of business
on such date. 

        (d)   In
case any Security shall be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to or upon the written order
of the Holder of the Security so surrendered, without charge to such Holder (subject to the provisions of Section 9.8 hereof), a new Security or Securities in authorized denominations in an
aggregate principal amount equal to the unconverted portion of the surrendered Securities. 

        Section 9.3    Adjustment of Conversion Price.    The Conversion Price shall be adjusted from time to time as
follows: 

        (a)   In
case the Company shall, at any time or from time to time while any of the Securities are outstanding, pay a dividend or make a distribution in shares of Common Stock
to all holders of its outstanding shares of Common Stock, then the Conversion Price in effect at the opening of business on the date following the record date fixed for the determination of
stockholders entitled to receive such dividend or other distribution shall be reduced by multiplying such Conversion Price by a fraction: 

        (1)   the
numerator of which shall be the number of shares of Common Stock outstanding at the close of business on the Record Date fixed for such determination; and 

        (2)   the
denominator of which shall be the sum of such number of shares and the total number of shares constituting such dividend or other distribution. 

        Such
reduction shall become effective immediately after the opening of business on the day following the Record Date fixed for such determination. If any dividend or distribution of the
type described in this Section 9.3(a) is declared but not so paid or made, the Conversion Price shall again be adjusted to the Conversion Price which would then be in effect if such dividend or
distribution had not been declared. 

        (b)   In
case the Company shall, at any time or from time to time while any of the Securities are outstanding, subdivide its outstanding shares of Common Stock into a greater
number of shares of Common Stock, then the Conversion Price in effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately 

37

 

reduced,
and conversely, in case the Company shall, at any time or from time to time while any of the Securities are outstanding, combine its outstanding shares of Common Stock into a smaller number
of shares of Common Stock, then the Conversion Price in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately increased. 

        Such
reduction or increase, as the case may be, shall become effective immediately after the opening of business on the day following the day upon which such subdivision or combination
becomes effective. 

        (c)   In
case the Company shall, at any time or from time to time while any of the Securities are outstanding, issue rights or warrants (other than any rights or warrants
referred to in Section 9.3(d)) to all or substantially all holders of its shares of Common Stock entitling them to subscribe for or purchase, for a period of up to 45 days, shares of
Common Stock (or securities convertible into shares of Common Stock) at a price per share (or having a conversion price per share) less than the Sale Price on the Business Day immediately preceding
the date of the announcement of such issuance (treating the conversion price per share of the securities convertible into Common Stock as equal to (x) the sum of (i) the price for a unit
of the security convertible into Common Stock and (ii) any additional consideration initially payable upon the conversion of such security into Common Stock divided by (y) the number of
shares of Common Stock initially underlying such convertible security), then the Conversion Price shall be adjusted so that the same shall equal the price determined by multiplying the Conversion
Price in effect at the opening of business on the date after such date of announcement by a fraction: 

        (1)   the
numerator of which shall be the number of shares of Common Stock outstanding on the close of business on the date of announcement, plus the number of shares or
securities which the aggregate offering price of the total number of shares or securities so offered for subscription or purchase (or the aggregate conversion price of the convertible securities so
offered) would purchase at such Sale Price of the Common Stock; and 

        (2)   the
denominator of which shall be the number of shares of Common Stock outstanding at the close of business on the date of announcement, plus the total number of
additional shares of Common Stock so offered for subscription or purchase (or into which the convertible securities so offered are convertible). 

        Such
adjustment shall become effective immediately after the opening of business on the day following the date of announcement of such issuance. To the extent that shares of Common Stock
(or securities convertible into shares of Common Stock) are not delivered pursuant to such rights or warrants, upon the expiration or termination of such rights or warrants, the Conversion Price shall
be readjusted to the Conversion Price which would then be in effect had the adjustments made upon the issuance of such rights or warrants been made on the basis of the delivery of only the number of
shares of Common Stock (or securities convertible into shares of Common Stock) actually delivered. In the event that such rights or warrants are not so issued, the Conversion Price shall again be
adjusted to be the Conversion Price which would then be in effect if the date fixed for the determination of stockholders entitled to receive such rights or warrants had not been fixed. In determining
whether any rights or warrants entitle the holders to subscribe for or purchase shares of Common Stock at less than such Sale Price, and in determining the aggregate offering price of such shares of
Common Stock, there shall be taken into account any consideration received for such rights or warrants, the value of such consideration if other than cash, to be determined by the Board of Directors. 

        (d)   In
case the Company shall, at any time or from time to time while any of the Securities are outstanding, by dividend or otherwise, distribute to all or substantially all
holders of its shares of Common Stock (including any such distribution made in connection with a consolidation or 

38

 

merger
in which the Company is the continuing corporation and the Common Stock is not changed or exchanged), cash (other than any dividends or distributions consisting exclusively of cash to which
Section 9.3(e) applies), shares of Common Stock (other than any dividends or distributions to which Section 9.3(a) applies), evidences of its indebtedness or other assets, including
securities, but excluding (i) any rights or warrants referred to in Section 9.3(c) and (ii) dividends or distributions of stock, securities or other property or assets (including
cash) in connection with a reclassification, consolidation, merger, statutory share exchange, combination, sale or conveyance to which Section 9.4 applies (such capital stock, evidence of its
indebtedness, and other assets or securities being distributed hereinafter in this Section 9.3(d) called the distributed assets), then, in each such case, subject to the second and third
succeeding paragraphs and the last paragraph of this Section 9.3(d), the Conversion Price shall be reduced so that the same shall be equal to the price determined by multiplying the Conversion
Price in effect immediately prior to the close of business on the Record Date with respect to such distribution by a fraction: 

        (1)   the
numerator of which shall be the Current Market Price of the Common Stock, less the Fair Market Value on such date of the portion of the distributed assets so
distributed applicable to one share of Common Stock (determined on the basis of the number of shares of Common Stock outstanding on the record date)(determined as provided in Section 9.3(g));
and 

        (2)   the
denominator of which shall be such Current Market Price. 

Such
reduction shall become effective immediately prior to the opening of business on the day following the Record Date for such distribution. In the event that such dividend or distribution is not so
paid or made, the Conversion Price shall again be adjusted to be the Conversion Price which would then be in effect if such dividend or distribution had not been declared. 

        If
the Board of Directors determines the Fair Market Value of any distribution for purposes of this Section 9.3(d) by reference to the actual or when issued trading market for any
distributed assets comprising all or part of such distribution, it must in doing so consider the prices in such market over the same period (the Reference Period) used in computing the Current Market
Price pursuant to Section 9.3(g) to the extent possible, unless the Board of Directors determines in good faith that determining the Fair Market Value during the Reference Period would not be
in the best interest of the Holders. In the event any such distribution consists of shares of capital stock of, or similar equity interests in, one or more of the Company's Subsidiaries (a
"Spin-Off"), the Conversion Price shall be reduced so that the same shall be equal to the price determined by multiplying the Conversion Price in effect immediately prior to the close of
business on the Record Date with respect to such distribution by a fraction: 

        (1)   the
numerator of which shall be the Current Market Price on such date; and 

        (2)   the
denominator of which shall be the Current Market Price of the Common Stock, plus the Fair Market Value on such date of the portion of the distributed assets so
distributed applicable to one share of Common Stock (determined on the basis of the number of shares of Common Stock outstanding on the record date) (determined as set forth in the second and third
succeeding sentences). 

Such
reduction shall become effective immediately prior to the opening of business on the day following the Record Date for such distribution. In the event that such dividend or distribution is not so
paid or made, the Conversion Price shall again be adjusted to be the Conversion Price which would then be in effect if such dividend or distribution had not been declared. In the case of a
Spin-Off, the Fair Market Value of the securities to be distributed shall equal the average of the closing sale prices of such securities on the principal securities market on which such
securities are traded for the five 

39

 

consecutive
Trading Days commencing on and including the sixth day of trading of those securities after the effectiveness of the Spin-Off, and the Current Market Price shall be measured
for the same period. In the event, however, that an underwritten initial public offering of the securities in the Spin-Off occurs simultaneously with the Spin-Off, Fair Market
Value of the securities distributed in the Spin-Off shall mean the initial public offering price of such securities and the Current Market Price shall mean the Sale Price for the Common
Stock on the same Trading Day. 

        Rights
or warrants distributed by the Company to all holders of its shares of Common Stock entitling them to subscribe for or purchase shares of the Company's capital stock (either
initially or under certain circumstances), which rights or warrants, until the occurrence of a specified event or events ("Trigger Event"), (i) are deemed to be transferred with such shares of
Common Stock, (ii) are not exercisable and (iii) are also issued in respect of future issuances of shares of Common Stock shall be deemed not to have been distributed for purposes of
this Section 9.3(d) (and no adjustment to the Conversion Price under this Section 9.3(d) will be required) until the occurrence of the earliest Trigger Event. If such right or warrant is
subject to subsequent events, upon the occurrence of which such right or warrant shall become exercisable to purchase different distributed assets, evidences of indebtedness or other assets, or
entitle the holder to purchase a different number or amount of the foregoing or to purchase any of the foregoing at a different purchase price, then the occurrence of each such event shall be deemed
to be the date of issuance and record date with respect to a new right or warrant (and a termination or expiration of the existing right or warrant without exercise by the holder thereof). In
addition, in the event of any distribution (or deemed distribution) of rights or warrants, or any Trigger Event or other event (of the type described in the preceding sentence) with respect thereto,
that resulted in an adjustment to the Conversion Price under this Section 9.3(d)): 

        (1)   in
the case of any such rights or warrants which shall all have been redeemed or repurchased without exercise by any holders thereof, the Conversion Price shall be
readjusted upon such final redemption or repurchase to give effect to such distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption
or repurchase price received by a holder of shares of Common Stock with respect to such rights or warrants (assuming such holder had retained such rights or warrants), made to all holders of shares of
Common Stock as of the date of such redemption or repurchase; and 

        (2)   in
the case of such rights or warrants which shall have expired or been terminated without exercise, the Conversion Price shall be readjusted as if such rights and
warrants had never been issued. 

        For
purposes of this Section 9.3(d) and Section 9.3(a), 9.3(b) and 9.3(c), any dividend or distribution to which this Section 9.3(d) is applicable that also includes
(i) shares of Common Stock, (ii) a subdivision or combination of shares of Common Stock to which Section 9.3(b) applies or (iii) rights or warrants to subscribe for or
purchase shares of Common Stock to which Section 9.3(c) applies (or any combination thereof), shall be deemed instead to be: 

        (1)   a
dividend or distribution of the evidences of indebtedness, assets, shares of capital stock, rights or warrants, other than such shares of Common Stock, such
subdivision or combination or such rights or warrants to which Section 9.3(a), 9.3(b) and 9.3(c) apply, respectively (and any Conversion Price reduction required by this Section 9.3(d)
with respect to such dividend or distribution shall then be made), immediately followed by 

        (2)   a
dividend or distribution of such shares of Common Stock, such subdivision or combination or such rights or warrants (and any further Conversion Price reduction
required 

40

 

by
Sections 9.3(a), 9.3(b), and 9.3(d) with respect to such dividend or distribution shall then be made), except: 

        (A)  the
Record Date of such dividend or distribution shall be substituted as (i)"the date fixed for the determination of stockholders entitled to receive such dividend or
other distribution," "Record Date fixed for such determinations" and "Record Date" within the meaning of Section 9.3(a) and 9.3(b), (ii) "the day upon which such subdivision becomes
effective" and "the day upon which such combination becomes effective" within the meaning of Section 9.3(b), and (iii) as "the date fixed for the determination of stockholders entitled
to receive such rights or warrants," "the Record Date fixed for the determination of the stockholders entitled to receive such rights or warrants" and such "Record Date" within the meaning of
Section 9.3(c); and 

        (B)  any
shares of Common Stock included in such dividend or distribution shall not be deemed "outstanding at the close of business on the date fixed for such determination"
within the meaning of Section 9.3(a) and any reduction or increase in the number of shares of Common Stock resulting from such subdivision or combination shall be disregarded in connection with
such dividend or distribution. 

        In
the event of any distribution referred to in this Section 9.3(d) in which (i) the value of such distributions per share of Common Stock equals or exceeds the average of
the Sale Prices of the Common Stock over the ten consecutive Trading Day period ending on the Record Date for such distribution, or (ii) such average of the Sale Prices of the Common Stock
exceeds the Fair Market Value applicable to one share of Common Stock (as determined by the Board of Directors) by less than $1.00, then, in each such case, in lieu of an adjustment to the Conversion
Price, adequate provision shall be made so that each Holder shall have the right to receive upon conversion of a Security, in addition to shares of Common Stock, the kind and amount of such
distribution such Holder would have received had such Holder converted such Security immediately prior to the Record Date for determining the shareholders entitled to receive the distribution. 

        No
adjustment to the Conversion Price or the ability of a Holder of a Security to convert will be made if the Holder will otherwise participate in such distribution without conversion. 

        (e)   In
case the Company shall, by dividend or otherwise, distribute to all or substantially all holders of its Common Stock cash (excluding any dividend or distribution in
connection with the liquidation, dissolution or winding up of the Company, whether voluntary or involuntary), then, in such case, the Conversion Price shall be reduced so that the same shall equal the
rate determined by dividing the Conversion Price in effect on the applicable record date by a fraction, 

        (1)   the
numerator of which shall be the Current Market Price on such record date; and 

        (2)   the
denominator of which shall be the Current Market Price minus the amount distributed per ordinary share of Common Stock. 

41

  

        Such
adjustment shall become effective immediately after the opening of business on the day following the Record Date fixed for the determination of the stockholders entitled to receive
such cash dividend or other distribution consisting exclusively of cash. If any dividend or distribution of the type described in this Section 9.3(e) is declared but not so paid or made, the
Conversion Price shall again be adjusted to the Conversion Price which would then be in effect if such dividend or distribution had not been declared. 

        (f)    In
case a tender or exchange offer made by the Company or any Subsidiary for all or any portion of the Common Stock shall expire and such tender or exchange offer (as
amended upon the expiration thereof) shall require the payment to stockholders of consideration per share of Common Stock having a Fair Market Value (as determined by the Board of Directors, whose
determination shall be conclusive and described in a resolution of the Board of Directors) that as of the last time (the "Expiration Time") tenders or exchanges may be made pursuant to such tender or
exchange offer (as it may be amended) exceeds the Closing Sale Price of a share of Common Stock on the Trading Day next succeeding the Expiration Time, the Conversion Price shall be reduced so that
the same shall equal the price determined by multiplying the Conversion Price in effect immediately prior to the Expiration Time by a fraction, 

        (1)   the
numerator of which shall be the number of shares of Common Stock outstanding (including any tendered or exchanged shares) at the Expiration Time multiplied by the
Sale Price of a share of Common Stock on the Trading Day next succeeding the Expiration Time such adjustment to become effective immediately prior to the opening of business on the day following the
Expiration Time; and 

        (2)   the
denominator of which shall be the sum of (x) the Fair Market Value (determined as aforesaid) of the aggregate consideration payable to stockholders based on
the acceptance (up to any maximum specified in the terms of the tender or exchange offer) of all shares validly tendered or exchanged and not withdrawn as of the Expiration Time (the shares deemed so
accepted up to any such maximum, being referred to as the "Purchased Shares") and (y) the product of the number of shares of Common Stock outstanding (less any Purchased Shares) at the
Expiration Time and the Sale Price of a share of Common Stock on the Trading Day next succeeding the Expiration Time. 

If
the Company is obligated to purchase shares pursuant to any such tender or exchange offer, but the Company is permanently prevented by applicable law from effecting any such purchases or all such
purchases are rescinded, the Conversion Price shall again be adjusted to be the Conversion Price that would then be in effect if such tender or exchange offer had not been made. 

        (g)   For
purposes of this Article IX, the following terms shall have the meanings indicated: 

        "Current
Market Price" on any date means the average of the daily Sale Prices per share of Common Stock for the ten consecutive Trading Days immediately prior to such date; provided,
however, that if: 

        (1)   the
"ex" date (as hereinafter defined) for any event (other than the issuance or distribution requiring such computation) that requires an adjustment to the Conversion
Price pursuant to Section 9.3(a), (b), (c), (d), (e) or (f) occurs during such ten consecutive Trading Days, the Sale Price for each Trading Day prior to the "ex" date for such
other event shall be adjusted by dividing such Sale Price by the same fraction by which the Conversion Price is so required to be adjusted as a result of such other event; 

        (2)   the
"ex" date for any event (other than the issuance or distribution requiring such computation) that requires an adjustment to the Conversion Price pursuant to
Section 9.3(a), (b), (c), (d), (e) or (f) occurs on or after the "ex" date for the issuance or distribution requiring such computation and prior to the day in question, the Sale
Price for each Trading 

42

 

Day
on and after the "ex" date for such other event shall be adjusted by dividing such Sale Price by the reciprocal of the fraction by which the Conversion Price is so required to be adjusted as a
result of such other event; and 

        (3)   the
"ex" date for the issuance or distribution requiring such computation is prior to the day in question, after taking into account any adjustment required pursuant to
clause (1) or (2) of this proviso, the Sale Price for each Trading Day on or after such "ex" date shall be adjusted by adding thereto the amount of any cash and the Fair Market Value (as
determined by the Board of Directors in a manner consistent with any determination of such value for purposes of Section 9.3(d), (e) or (f)) of the evidences of indebtedness, shares of
capital stock or assets being distributed applicable to one share of Common Stock as of the close of business on the day before such "ex" date. 

For
purposes of any computation under Section 9.3(f), if the "ex" date for any event (other than the tender offer requiring such computation) that requires an adjustment to the Conversion Price
pursuant to Section 9.3(a), (b), (c), (d), (e) or (f) occurs on or after the Expiration Time for the tender or exchange offer requiring such computation and prior to the day in
question, the Sale Price for each Trading Day on and after the "ex" date for such other event shall be adjusted by dividing such Sale Price by the reciprocal of the fraction by which the Conversion
Price is so required to be adjusted as a result of such other event. For purposes of this paragraph, the term "ex" date, when used: 

        (1)   with
respect to any issuance or distribution, means the first date on which the shares of Common Stock trade regular way on the relevant exchange or in the relevant
market from which the Sale Price was obtained without the right to receive such issuance or distribution; 

        (2)   with
respect to any subdivision or combination of shares of Common Stock, means the first date on which the shares of Common Stock trade regular way on such exchange or
in such market after the time at which such subdivision or combination becomes effective; and 

        (3)   with
respect to any tender or exchange offer, means the first date on which the shares of Common Stock trade regular way on such exchange or in such market after the
Expiration Time of such offer. 

Notwithstanding
the foregoing, whenever successive adjustments to the Conversion Price are called for pursuant to this Section 9.3, such adjustments shall be made to the Current Market Price as
may be necessary or appropriate to effectuate the intent of this Section 9.3 and to avoid unjust or inequitable results as determined in good faith by the Board of Directors. 

        "Fair
Market Value" shall mean the amount that a willing buyer would pay a willing seller in an arm's-length transaction (as determined by the Board of Directors, whose determination
shall be conclusive). 

        "Record
Date" shall mean, with respect to any dividend, distribution or other transaction or event in which the holders of shares of Common Stock have the right to receive any cash,
securities or other property or in which the shares of Common Stock (or other applicable security) is exchanged for or converted into any combination of cash, securities or other property, the date
fixed for determination of stockholders entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or otherwise). 

        (h)   The
Company shall be entitled to make such additional reductions in the Conversion Price, in addition to those required by Section 9.3(a), (b), (c), (d),
(e) or (f), as shall be necessary in order that any dividend or distribution of Common Stock, any subdivision, reclassification or combination of shares of Common Stock or any issuance of
rights or warrants referred to above shall not be taxable to the holders of Common Stock for United States Federal income tax purposes. 

43

 

        (i)    To
the extent permitted by applicable law, the Company may, from time to time, reduce the Conversion Price by any amount for any period of time, if such period is at
least 20 days and the reduction is irrevocable during the period. Whenever the Conversion Price is reduced pursuant to the
preceding sentence, the Company shall mail to the Trustee and each Holder at the address of such Holder as it appears in the register of the Securities maintained by the Registrar, at least
15 days prior to the date the reduced Conversion Price takes effect, a notice of the reduction stating the reduced Conversion Price and the period during which it will be in effect. 

        (j)    In
any case in which this Section 9.3 shall require that any adjustment be made effective as of or retroactively immediately following a Record Date, the Company
may elect to defer (but only for five Trading Days following the filing of the statement referred to in Section 9.5) issuing to the Holder of any Securities converted after such Record Date the
shares of Common Stock issuable upon such conversion over and above the shares of Common Stock issuable upon such conversion on the basis of the Conversion Price prior to adjustment; provided,
however, that the Company shall deliver to such Holder a due bill or other appropriate instrument evidencing such Holder's right to receive such additional shares upon the occurrence of the event
requiring such adjustment. 

        (k)   All
calculations under this Section 9.3 shall be made to the nearest cent or one-hundredth of a share, with one-half cent and 0.005 of a
share, respectively, being rounded upward. 

        (l)    In
the event that at any time, as a result of an adjustment made pursuant to this Section 9.3, the Holder of any Securities thereafter surrendered for conversion
shall become entitled to receive any shares of stock of the Company other than shares of Common Stock into which the Securities originally were convertible, the Conversion Price of such other shares
so receivable upon conversion of any such Security shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to
Common Stock contained in subparagraphs (a) through (k) of this Section 9.3, and the provision of Sections 9.1, 9.2 and 9.4 through 9.9 with respect to the Common Stock shall
apply on like or similar terms to any such other shares and the determination of the Board of Directors as to any such adjustment shall be conclusive. 

        (m)  No
adjustment shall be made pursuant to this Section 9.3 (i) if the effect thereof would be to reduce the Conversion Price below $10.37, or (ii) if
the Holders of the Securities may participate in the transaction that would otherwise give rise to an adjustment pursuant to this Section 9.3, or (iii) if the consent of the holders of
the Common Stock would be required for the issuance of, or the Company's agreement to issue, the Common Stock at the adjusted Conversion Price pursuant to the rules of the Nasdaq Stock
Market, Inc. or any exchange or other market on which the Common Stock is then listed or traded and the Company has not obtained such consent in compliance with the applicable rules. 

        Section 9.4    Consolidation or Merger of the Company.    If any of the following events occurs, namely: 

        (1)   any
reclassification or change of the outstanding Common Stock (other than a change in par value, or from par value to no par value, or from no par value to par value,
or as a result of a subdivision or combination); 

        (2)   any
merger, consolidation, statutory share exchange or combination of the Company with another corporation as a result of which holders of Common Stock shall be entitled
to receive stock, securities or other property or assets (including cash) with respect to or in exchange for such Common Stock; or 

        (3)   any
sale or conveyance of the properties and assets of the Company as, or substantially as, an entirety to any other corporation as a result of which holders of Common
Stock shall be 

44

 

entitled
to receive stock, securities or other property or assets (including cash) with respect to or in exchange for such Common Stock; 

the
Company or the successor or purchasing corporation, as the case may be, shall execute with the Trustee a supplemental indenture (which shall comply with the Trust Indenture Act as in force at the
date of execution of such supplemental indenture, if such supplemental indenture is then required to so comply) providing that such Securities shall be convertible into the kind and amount of shares
of stock and other securities or property or assets (including cash) which such Holder would have been entitled to receive upon such reclassification, change, merger, consolidation, statutory share
exchange, combination, sale or conveyance had such Securities been converted into Common Stock immediately prior to such reclassification, change, merger, consolidation, statutory share exchange,
combination, sale or conveyance assuming such holder of Common Stock did not exercise its rights of election, if any, as to the kind or amount of securities, cash or other property receivable upon
such merger, consolidation, statutory share exchange, sale or conveyance (provided, that if the kind or amount of securities, cash or other property receivable upon such merger, consolidation,
statutory share exchange, sale or conveyance is not the same for each share of Common Stock in respect of which such rights of election shall not have been exercised (Non-Electing Share),
then for the purposes of this Section 9.4, the kind and amount of securities, cash or other property receivable upon such merger, consolidation, statutory share exchange, sale or conveyance for
each Non-Electing Share shall be deemed to be the kind and amount so receivable per share by a plurality of the Non-Electing Shares). Such supplemental indenture shall provide
for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article IX. If, in the case of any such reclassification, change, merger,
consolidation, statutory share exchange, combination, sale or conveyance, the stock or other securities and assets receivable thereupon by a holder of Common Stock includes shares of stock or other
securities and assets of a corporation other than the successor or purchasing corporation, as the case may be, in such reclassification, change, merger, consolidation, statutory share exchange,
combination, sale or conveyance, then such supplemental indenture shall also be executed by such other corporation and shall contain such additional provisions to protect the interests of the Holders
of the Securities as the Board of Directors shall reasonably consider necessary by reason of the foregoing, including to the extent practicable the provisions providing for the conversion rights set
forth in this Article IX. 

        The
Company shall cause notice of the execution of such supplemental indenture to be mailed to each Holder, at the address of such Holder as it appears on the register of the Securities
maintained by the Registrar, within 20 days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture. 

        The
above provisions of this Section 9.4 shall similarly apply to successive reclassifications, mergers, consolidations, statutory share exchanges, combinations, sales and
conveyances. 

        If
this Section 9.4 applies to any event or occurrence, Section 10.3 shall not apply. 

        Section 9.5    Notice of Adjustment.    Whenever an adjustment in the Conversion Price with respect to the
Securities is required: 

        (1)   the
Company shall forthwith place on file with the Trustee and any Conversion Agent for such securities a certificate of the Treasurer of the Company, stating the
adjusted Conversion Price determined as provided herein and setting forth in reasonable detail such facts as shall be necessary to show the reason for and the manner of computing such adjustment; and 

        (2)   a
notice stating that the Conversion Price has been adjusted and setting forth the adjusted Conversion Price shall forthwith be given by the Company or, at the Company's
request, by the Trustee in the name and at the expense of the Company, to each Holder in the manner provided in Section 10.2. Any notice so given shall be conclusively presumed to have been
duly given, whether or not the Holder receives such notice. 

45

 

In
addition, whenever an adjustment in the Conversion Price with respect to the Securities is required, the Company will issue a press release through Dow Jones & Company, Inc. or
Bloomberg Business News containing the relevant information and make this information available on the Company's web site or through another public medium as it may use at that time. 

        Section 9.6    Notice in Certain Events.    In case: 

        (1)   of
a consolidation or merger to which the Company is a party and for which approval of any stockholders of the Company is required, or of the sale or conveyance to
another Person or entity or group of Persons or entities acting in concert as a partnership, limited partnership, syndicate or other group (within the meaning of Rule 13d-3 under
the Exchange Act) of all or substantially all of the property and assets of the Company; or 

        (2)   of
the voluntary or involuntary dissolution, liquidation or winding up of the Company; or 

        (3)   of
any action triggering an adjustment of the Conversion Price referred to in clauses (x) or (y) below; 

then,
in each case, the Company shall cause to be filed with the Trustee and the Conversion Agent, and shall cause to be given, to the Holders of the Securities in the manner provided in
Section 10.2, at least 15 days prior to the applicable date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of any
distribution or grant of rights or warrants triggering an adjustment to the Conversion Price pursuant to this Article IX, or, if a record is not to be taken, the date as of which the holders of record
of Common Stock entitled to such distribution, rights or warrants are to be determined, or (y) the date on which any reclassification, consolidation, merger, sale, conveyance, dissolution,
liquidation or winding up triggering an adjustment to the Conversion Price pursuant to this Article IX is expected to become effective, and the date as of which it is expected that holders of
Common Stock of record shall be entitled to exchange their Common Stock for securities or other property deliverable upon such reclassification, consolidation, merger sale, conveyance, dissolution,
liquidation or winding up. 

        Failure
to give such notice or any defect therein shall not affect the legality or validity of the proceedings described in clause (1), (2) or (3) of this
Section 9.6. 

        Section 9.7    Company To Reserve Stock: Registration; Listing.    

        (a)   The
Company shall, in accordance with the laws of the State of Delaware, at all times reserve and keep available, free from preemptive rights, out of its authorized but
unissued shares of Common Stock, for the purpose of effecting the conversion of the Securities, such number of its duly authorized shares of Common Stock as shall from time to time be sufficient to
effect the conversion of all Securities then outstanding into such Common Stock at any time (assuming that, at the time of the computation of such number of shares or securities, all such Securities
would be held by a single Holder); provided, however, that nothing contained herein shall preclude the Company from satisfying its obligations in respect of the conversion of the Securities by
delivery of purchased shares of Common Stock which are then held in the treasury of the Company. The Company covenants that all shares of Common Stock which may be issued upon conversion of Securities
will upon issue be fully paid and nonassessable and free from all liens and charges and, except as provided in Section 9.8, taxes with respect to the issue thereof. 

        (b)   If
any shares of Common Stock which would be issuable upon conversion of Securities hereunder require registration with or approval of any governmental authority before
such shares or securities may be issued upon such conversion, the Company will in good faith and as expeditiously as possible endeavor to cause such shares or securities to be duly registered or
approved, as the case may be. The Company further covenants that so long as the Common Stock shall be listed on the Nasdaq Stock Market, Inc., the Company will, if permitted by the rules of 

46

 

such
exchange, list and keep listed all Common Stock issuable upon conversion of the Securities, and the Company will endeavor to list the shares of Common Stock required to be delivered upon
conversion of the Securities prior to such delivery upon any other national securities exchange upon which the outstanding Common Stock is listed at the time of such delivery. 

        Section 9.8    Taxes on Conversion.    The issue of stock certificates on conversion of Securities shall be
made without charge to the converting Holder for any documentary, stamp or similar issue or transfer taxes in respect of the issue thereof, and the Company shall pay any and all documentary, stamp or
similar issue or transfer taxes that may be payable in respect of the issue or delivery of shares of Common Stock on conversion of Securities pursuant hereto. The Company shall not, however, be
required to pay any such tax which may be payable in respect of any transfer involved in the issue or delivery of shares of Common Stock or the portion, if any, of the Securities which are not so
converted in a name other than that in which the Securities so converted were registered, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid to the
Company the amount of such tax or has established to the satisfaction of the Company that such tax has been paid. 

        Section 9.9    Conversion After Record Date.    Except as provided below, if any Securities are surrendered for
conversion on any day other than an Interest Payment Date, the Holder of such Securities shall not be entitled to receive any interest that has accrued on such Securities since the prior Interest
Payment Date. By delivery to the Holder of the number of shares of Common Stock or other consideration issuable upon conversion in accordance with this Article IX, any accrued and unpaid
interest on such Securities will be deemed to have been paid in full. 

        If
any Securities are surrendered for conversion subsequent to the Record Date preceding an Interest Payment Date but on or prior to such Interest Payment Date, the Holder of such
Securities at the close of business on such Record Date shall receive the interest payable on such Securities on such Interest Payment Date notwithstanding the conversion thereof. Securities
surrendered for conversion during the period from the close of business on any Record Date preceding any Interest Payment Date to the opening of business on such Interest Payment Date shall (except in
the case of Securities which have been called for redemption on a Redemption Date between such Record Date and the third Business Day after such Interest Payment Date) be accompanied by payment by
Holders, for the account of the Company, in New York Clearing House funds or other funds of an amount equal to the interest payable on such Interest Payment Date on the Securities being surrendered
for conversion. Except as provided in this Section 9.9, no adjustments in respect of payments of interest on Securities surrendered for conversion or any dividends or distributions or interest
on the Common Stock issued upon conversion shall be made upon the conversion of any Securities. 

        Section 9.10    Company Determination Final.    Any determination that the Company or the Board of Directors
must make pursuant to this Article IX shall be conclusive if made in good faith and in accordance with the provisions of this Article, absent manifest error, and set forth in a Board
Resolution. 

        Section 9.11    Responsibility of Trustee for Conversion Provisions.    The Trustee has no duty to determine
when an adjustment under this Article IX should be made, how it should be made or what it should be. The Trustee makes no representation as to the validity or value of any securities or assets
issued upon conversion of Securities. The Trustee shall not be responsible for any failure of the Company to comply with this Article IX. Each Conversion Agent other than the Company shall have
the same protection under this Section 9.11 as the Trustee. 

        The
rights, privileges, protections, immunities and benefits given to the Trustee under the Indenture including, without limitation, its rights to be indemnified, are extended to, and
shall be enforceable by, the Trustee in each of its capacities hereunder, and each Paying Agent or Conversion Agent acting hereunder. 

47

   
        Section 9.12    Unconditional Right of Holders to Convert.    Notwithstanding any other provision in this
Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to convert its Security in accordance with this Article IX and to bring an action for the
enforcement of any such right to convert, and such rights shall not be impaired or affected without the consent of such Holder. 

ARTICLE X  

 MISCELLANEOUS  

        Section 10.1    Trust Indenture Act Controls.    If any provision of this Indenture limits, qualifies, or
conflicts with another provision which is required to be included in this Indenture by the TIA, the required provision shall control. 

        Section 10.2    Notices.    Any request, demand, authorization, notice, waiver, consent or communication shall
be in writing and delivered in person or mailed by first-class mail, postage prepaid, addressed as follows or transmitted by facsimile transmission (confirmed by guaranteed overnight courier) to the
following facsimile numbers: 

if
to the Company: 

deCODE
genetics Inc.

Sturlungata 8

Reykjavik, Iceland

Attention: Corporate Counsel

Facsimile No.: +354-570-1806 

With
a copy to: 

Stevens &
Lee, P.C.

600 College Road East

Suite 4400

Attention: Marsha E. Novick

Facsimile No.: (610) 371-7929 

if
to the Trustee: 

The
Bank of New York

101 Barclay Street, Floor 21 West

New York, New York 10286

Facsimile No. (212) 815-5707

Attention: Corporate Trust Administration 

        The
Company or the Trustee by notice given to the other in the manner provided above may designate additional or different addresses for subsequent notices or communications. 

        Any
notice or communication given to a Securityholder shall be mailed to the Securityholder, by first-class mail, postage prepaid, at the Securityholder's address as it appears on the
registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 

        Failure
to mail a notice or communication to a Securityholder or any defect in it shall not affect its sufficiency with respect to other Securityholders. If a notice or communication is
mailed in the manner provided above, it is duly given, whether or not received by the addressee; provided that all notices to the Trustee shall be deemed effective upon actual receipt thereof. 

        If
the Company mails a notice or communication to the Securityholders, it shall mail a copy to the Trustee and each Registrar, Paying Agent, Conversion Agent or co-registrar. 

48

 

        Section 10.3    Communication by Holders with Other Holders.    Securityholders may communicate pursuant to TIA
Section 312(b) with other Securityholders with respect to their rights under this Indenture or the Securities. The Company, the Trustee, the Registrar, the Paying Agent, the Conversion Agent
and anyone else shall have the protection of TIA Section 312(c). 

        Section 10.4    Certificate and Opinion as to Conditions Precedent.    Upon any request or application by the
Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee: 

        (1)   an
Officers' Certificate stating that, in the opinion of the signatories, all conditions precedent, if any, provided for in this Indenture relating to the proposed
action have been complied with; and 

        (2)   an
Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 

        Section 10.5    Statements Required in Certificate or Opinion.    Each Officers' Certificate or Opinion of
Counsel with respect to compliance with a covenant or condition provided for in this Indenture shall include: 

        (1)   a
statement that each Person making such Officers' Certificate or Opinion of Counsel has read such covenant or condition; 

        (2)   a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such Officers' Certificate or Opinion
of Counsel are based; 

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

        (4)   a
statement that, in the opinion of such Person, such covenant or condition has been complied with. 

        Section 10.6    Separability Clause.    In case any provision in this Indenture or in the Securities shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

        Section 10.7    Rules by Trustee, Paying Agent, Conversion Agent and Registrar.    The Trustee may make
reasonable rules for action by or a meeting of Securityholders. The Registrar, the Conversion Agent and the Paying Agent may make reasonable rules for their functions. 

        Section 10.8    Legal Holidays.    A "Legal Holiday" is any day other than a Business Day. If any specified
date (including a date for giving notice) is a Legal Holiday, the action shall be taken on the next succeeding day that is not a Legal Holiday, and, if the action to be taken on such date is a payment
in respect of the Securities, no interest, if any, shall accrue for the intervening period. 

        Section 10.9    Governing Law.    THIS INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK. 

        Section 10.10    Waiver of Jury Trial.    EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVE, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED
HEREBY. 

        Section 10.11    No Recourse Against Others.    A director, officer, employee or stockholder, as such, of the
Company shall not have any liability for any obligations of the Company under the Securities or 

49

 

this
Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Securityholder shall waive and release all such liability. The
waiver and release shall be part of the consideration for the issue of the Securities. 

        Section 10.12    Successors.    All agreements of the Company in this Indenture and the Securities shall bind
its successor. All agreements of the Trustee in this Indenture shall bind its successor. 

        Section 10.13    Multiple Originals.    The parties may sign any number of copies of this Indenture. Each
signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. 

        Section 10.14    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. 

50

 

        IN
WITNESS WHEREOF, the undersigned, being duly authorized, have executed this Indenture on behalf of the respective parties hereto as of the date first above written. 

	 	 	deCODE genetics, Inc.
	

 	
 	

By:	
 	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	

THE BANK OF NEW YORK

As Trustee
	

 	
 	

By:	
 	

 
	 	 	 	 	
 Name:

Title:

51

EXHIBIT A  

 [FORM OF FACE OF GLOBAL SECURITY]  

        UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

        TRANSFERS
OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS TO NOMINEES OF THE DEPOSITORY TRUST COMPANY, OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S NOMINEE AND TRANSFERS OF
PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ARTICLE TWO OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

        THE
SECURITY EVIDENCED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAWS, AND MAY NOT BE
OFFERED OR SOLD EXCEPT AS SET FORTH IN THE FOLLOWING SENTENCE. BY ACQUISITION HEREOF, THE HOLDER: 

	(1)
	REPRESENTS
THAT IT IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT;

	(2)
	AGREES
THAT IT WILL NOT WITHIN TWO YEARS AFTER THE ORIGINAL ISSUANCE OF THIS SECURITY RESELL OR OTHERWISE TRANSFER THE SECURITY EVIDENCED HEREBY OR THE COMMON STOCK ISSUABLE UPON
CONVERSION OF SUCH SECURITY EXCEPT (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT,
(C) TO A NON-U.S. PERSON OUTSIDE THE UNITED STATES IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT, (D) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE
144 UNDER THE SECURITIES ACT, IF AVAILABLE, (E) TO AN INSTITUTIONAL INVESTOR THAT IS AN ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, IF AVAILABLE, OR (F) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER
THE SECURITIES ACT AND WHICH CONTINUES TO BE EFFECTIVE AT THE TIME OF SUCH TRANSFER; AND

	(3)
	AGREES
THAT IT WILL DELIVER TO EACH PERSON TO WHOM THE SECURITY EVIDENCED HEREBY IS TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE 2(F) ABOVE) A NOTICE SUBSTANTIALLY TO THE
EFFECT OF THIS LEGEND. 

        The
foregoing legend may be removed from this Security on satisfaction of the conditions specified in the Indenture. 

 
deCODE genetics, Inc.  

 3.5% Senior Convertible Notes due 2011  

	No.:	 	CUSIP: 243586AA2
	Issue Date: April 14, 2004	 	ISIN: US243586AA22
	 	 	Principal Amount: $

        deCODE genetics, Inc., a Delaware corporation, promises to pay to Cede & Co. or registered assigns, the principal amount
of            dollars
($            ) on April 15, 2011. 

        Interest
Payment Dates: April 15 and October 15, commencing October 15, 2004. 

        Record
Dates: April 1 and October 1. 

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

        IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal. 

	Dated:                       , 200	 	deCODE genetics, Inc.
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	
 Title:
	

TRUSTEE'S CERTIFICATE OF AUTHENTICATION	
 	

 	
 	

 
	

THE BANK OF NEW YORK,

as Trustee, certifies that this is one of the Securities referred to in the within mentioned Indenture.	
 	

 	
 	

 
	

By:	
 	

 	
 	

 	
 	

 
	 	 	
 Authorized Signatory	 	 	 	 
	Dated:                       , 200	 	 	 	 

A-2

 
[FORM OF REVERSE OF GLOBAL SECURITY]  

 3.5% Senior Convertible Notes due 2011  

        This Security is one of a duly authorized issue of the 3.5% Senior Convertible Notes due 2011 (the "Securities") of deCODE genetics, Inc., a Delaware
corporation (including any successor corporation under the Indenture hereinafter referred to, the "Company"), issued under an Indenture, dated as of April 14, 2004 (the "Indenture"), between
the Company and The Bank of New York, as trustee (the "Trustee"). The terms of the Security include those stated in the Indenture, those made part of the Indenture by reference to the Trust Indenture
Act of 1939, as amended ("TIA"), and those set forth in this Security. This Security is subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of all such
terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Security and the terms of the Indenture, the terms of the Indenture shall control.
Capitalized terms used but not defined herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

1.    Interest  

        The Company promises to pay interest on the principal amount of the Securities at the interest rate of 3.5% (the "Interest Rate") from the date of issuance until
repayment in full at April 15, 2011, or until an earlier conversion, redemption or repurchase. The Company will pay interest on this Security semi-annually in arrears on
April 15 and October 15 of each year (each, an "interest payment date"), commencing October 15, 2004. 

        The
Securities shall bear interest from April 14, 2004 until the principal amount thereof is paid or made available for payment, or until such date on which the Securities are
converted, redeemed or purchased as provided herein at a rate of 3.5% per annum. 

        Interest
on the Securities shall be computed (i) for any full semi-annual period for which a particular Interest Rate is applicable, on the basis of a
360-day year of twelve 30-day months and (ii) for any period for which a particular Interest Rate is applicable for less than a full semiannual period for which interest
is calculated, on the basis of a 30-day month and, for such periods of less than a month, the actual number of days elapsed over a 30-day month. 

        If
this Security is redeemed or repurchased by the Company on a date that is after the record date and prior to the corresponding interest payment date, interest and Additional Amounts,
if any, accrued and unpaid hereon to but not including the applicable Redemption Date or Change of Control Purchase Date, as the case may be, will be paid to the same Holder to whom the Company pays
the principal of this Security. 

        Interest
on Securities converted after a record date but prior to the corresponding interest payment date will be paid to the Holder of the Securities on the record date but, upon
conversion, the Holder must pay the Company the interest and Additional Amounts, if any, which have accrued and will be paid on such interest payment date;  provided, that no such payment need be made
with respect to Securities which will be redeemed by the Company after a record date and prior to the third
Business Day after the corresponding interest payment date. 

        If
the principal amount hereof or any portion of such principal amount or any interest, including Additional Amounts, if any, on any Security is not paid when due (whether upon
acceleration pursuant to Section 6.2 of the Indenture, upon the date set for payment of the Redemption Price pursuant to Section 5 hereof or the Change of Control Purchase Price pursuant
to Section 6 hereof or upon the Stated Maturity of this Security), then in each such case the overdue amount shall, to the extent permitted by law, bear interest at the Interest Rate,
compounded semi-annually, which interest shall accrue from the date on which such overdue amount was originally due until the date on which 

A-3

 

payment
of such amount, including interest thereon, has been made or duly provided for. All such interest shall be payable on demand. 

2.    Method of Payment.  

        Except as provided below, interest will be paid (i) on the Global Securities to The Depository Trust Company ("DTC") or its nominee in immediately
available funds, (ii) on any definitive Securities having an aggregate principal amount of $5,000,000 or less, by check mailed to the Holders of such Securities, and (iii) on any
definitive Securities having an aggregate principal amount of more than $5,000,000, by wire transfer in immediately available funds at the election of the Holders of such Securities. 

        At
Stated Maturity, the Company will pay interest on definitive Securities at the Company's office or agency in New York City, which initially will be the Corporate Trust Office of the
Trustee in New York City. 

        Principal
on Global Securities will be paid to DTC or its nominee in immediately available funds. Principal on definitive Securities will be payable, upon Stated Maturity or when due, at
the office or agency of the Company in New York City, maintained for such purpose, initially the Corporate Trust Office of the Trustee in New York City. 

        Subject
to the terms and conditions of the Indenture, the Company will make payments in cash in respect of Redemption Prices, Change of Control Purchase Prices and at Stated Maturity to
Holders who surrender Securities to a Paying Agent to collect such payments in respect of the Securities. The Company will pay cash amounts in money of the United States that at the time of payment is
legal tender for payment of public and private debts. However, the Company may make such cash payments by check payable in such money. 

3.    Paying Agent, Conversion Agent and Registrar.  

        Initially, The Bank of New York will act as Paying Agent, Conversion Agent and Registrar. The Company may appoint and change any Paying Agent, Conversion Agent or
Registrar without notice, other than notice to the Trustee; provided that the Company will maintain at least one Paying Agent in the State of New York, City of New York, Borough of Manhattan, which
shall initially be an office or agency of the Trustee. The Company or any of its Subsidiaries or any of their Affiliates may act as Paying Agent, Conversion Agent or Registrar. 

4.    Indenture.  

        The Securities are senior unsecured obligations of the Company limited to $150,000,000 aggregate principal amount (of which $125,000,000 represents the original
issue and $25,000,000 is issued pursuant to the exercise by the Initial Purchasers of their option to purchase up to $25,000,000 aggregate principal amount of additional Securities). The Indenture
does not limit other indebtedness of the Company, secured or unsecured. 

5.    Redemption at the Option of the Company.  

        No sinking fund is provided for the Securities. The Securities are not redeemable by the Company prior to April 20, 2009. The Securities are redeemable for
cash at the option of the Company, in whole or in part, at any time or from time to time, on or after April 20, 2009 upon not less than 20 nor more than 60 days' notice (the "Redemption
Notice") by mail for a redemption price equal to the principal amount of those Securities plus accrued and unpaid interest, including Additional Amounts, if any, up to the Redemption Date. 

A-4

 

6.    Purchase By the Company at the Option of the Holder.  

        At the option of the Holder and subject to the terms and conditions of the Indenture, the Company shall become obligated to offer to purchase the Securities held
by such Holder within 30 days after the occurrence of a Change of Control of the Company for a Change of Control Purchase Price equal to the principal amount plus accrued and unpaid interest,
including Additional Amounts, if any, of such Security on the Change of Control Purchase Date. The Change of Control Purchase Date shall be between 30 and 60 days of the Company's delivery of
the notice described in the preceding sentence. The Change of Control Purchase Price shall be paid in cash. 

        Holders
have the right to withdraw any Change of Control Purchase Notice, as the case may be, by delivering to the Paying Agent a written notice of withdrawal in accordance with the
provisions of the Indenture. 

        If
cash sufficient to pay the Change of Control Purchase Price of all Securities, or portions thereof to be purchased as of the Change of Control Purchase Date, is deposited with the
Paying Agent on the Business Day following the Change of Control Purchase Date, interest will cease to accrue on such Securities (or portions thereof) immediately after such Change of Control Purchase
Date, and the Holder thereof shall have no other rights as such other than the right to receive the Change of Control Purchase Price upon surrender of such Security. 

7.    Notice of Redemption.  

        Notice of redemption pursuant to Section 5 of this Security will be mailed at least 20 days but not more than 60 days before the Redemption
Date to each Holder of Securities to be redeemed at the Holder's registered address. If money sufficient to pay the Redemption Price of all Securities (or portions thereof) to be redeemed on the
Redemption Date is deposited with the Paying Agent prior to or on the Redemption Date, immediately after such Redemption Date interest ceases to accrue on such Securities or portions thereof.
Securities in denominations larger than $1,000 of principal amount may be redeemed in part but only in integral multiples of $1,000 of principal amount. 

8.    Conversion.  

        Subject to and in compliance with the provisions of the Indenture, a Holder is entitled, at such Holder's option, to convert the Holder's Security (or any portion
of the principal amount thereof that is $1,000 or an integral multiple of $1,000), into fully paid and nonassessable shares of Common Stock at the Conversion Price in effect at the time of conversion. 

        A
Security in respect of which a Holder has delivered a Change of Control Purchase Notice, exercising the option of such Holder to require the Company to purchase such Security, may be
converted only if such Change of Control Purchase Notice is withdrawn in accordance with the terms of the Indenture. 

        The
initial Conversion Price is $14.00, subject to adjustment in certain events described in the Indenture. No fractional shares of Common Stock shall be issued upon conversion of any
Security. A Holder that surrenders Securities for conversion will receive cash or a check in lieu of any fractional share of Common Stock. 

        To
surrender a Security for conversion, a Holder must (i) complete and manually sign the conversion notice below (or complete and manually sign a facsimile of such notice) and
deliver such notice to the Conversion Agent, (ii) surrender the Security to the Conversion Agent, (iii) furnish appropriate endorsements and transfer documents and (iv) pay any
transfer or similar tax, if required by the Indenture. 

A-5

 

        If
the Company (i) is a party to a consolidation, merger or binding share exchange, (ii) reclassifies the Common Stock or (iii) conveys, transfers or leases its
properties and assets substantially as an entirety to any Person, the right to convert a Security into shares of Common Stock may be changed into a right to convert it into securities, cash or other
assets of the Company or such other Person, in each case in accordance with the Indenture. 

9.    Denominations; Transfer; Exchange.  

        The Securities are in fully registered form, without coupons, in denominations of $1,000 of principal amount and integral multiples of $1,000. A Holder may
transfer or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any
taxes and fees required by law or permitted by the Indenture. The Registrar need not transfer or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in
part, the portion of the Security not to be redeemed) or any Securities in respect of which a Change of Control Purchase Notice has been given and not withdrawn (except, in the case of a Security to
be purchased in part, the portion of the Security not to be purchased) or any Securities for a period of 15 days before the mailing of a notice of redemption of Securities to be redeemed. 

10.    Persons Deemed Owners.  

        The registered Holder of this Security may be treated as the owner of this Security for all purposes. 

11.    Unclaimed Money or Securities.  

        The Trustee and the Paying Agent shall return to the Company upon written request any money held by them for the payment of any amount with respect to the
Securities that remains unclaimed for two years, subject to applicable unclaimed property law. After return to the Company, Holders entitled to the money or securities must look to the Company for
payment as general creditors unless an applicable abandoned property law designates another Person. 

12.    Amendment; Waiver.  

        Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Securities may be amended with the written consent of the Holders of at
least a majority in aggregate principal amount of the outstanding Securities and (ii) certain Defaults may be waived with the written consent of the Holders of a majority in aggregate principal
amount of the outstanding Securities. The Indenture and the Securities may also be amended by the Company and the Trustee, without the consent of any Holder, in certain circumstances set forth in the
Indenture; provided, that certain provisions of the Indenture and the Securities may not be amended without the consent of each affected Holder. 

13.    Defaults and Remedies.  

        If any Event of Default with respect to Securities shall occur and be continuing, the principal of all the Securities may be declared due and payable in the
manner and with the effect provided in the Indenture. 

14.    Trustee Dealings with the Company.  

        Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of
Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have
if it were not Trustee. 

A-6

 

15.    No Recourse Against Others.  

        A director, officer, employee or shareholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the
Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Securityholder waives and releases all such liability. The waiver
and release are part of the consideration for the issue of the Securities. 

16.    Treatment of Securities.  

        Each holder, by acceptance of a Security, and beneficial owner, by acceptance of a beneficial ownership interest in a Security, agrees to treat the Securities as
indebtedness of the Company for U.S. federal income tax purposes and to not take any action inconsistent with such treatment. 

17.    Authentication.  

        This Security shall not be valid until an authorized signatory of the Trustee manually signs the Trustee's Certificate of Authentication on the other side of this
Security. 

18.    Abbreviations.  

        Customary abbreviations may be used in the name of a Securityholder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT
TEN (=joint tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

19.    GOVERNING LAW.  

        THIS SECURITY AND THE INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

        The
Company will furnish to any Securityholder upon written request and without charge a copy of the Indenture which has in it the text of this Security in larger type. Requests may be
made to: 

deCODE
genetics, Inc.

Sturlungata 8

Reykjavik, Iceland

Attn: Corporate Counsel

Facsimile No.: +354-570-1806 

20.    Registration Rights.  

        The Holders of the Securities are entitled to the benefits of the Registration Rights Agreement, dated as of April 14, 2004, among the Company, and J. P.
Morgan Securities Inc. and Lehman Brothers Inc., as representatives of the Initial Purchasers including the receipt of Additional Amounts upon a registration default (as defined in such
agreement). 

A-7

 

	ASSIGNMENT FORM
 
	 	CONVERSION NOTICE
 

	To assign this Security, fill in the form below:	 	To convert this Security into Common Stock of the Company, check the box o
	

I or we assign and transfer this Security to	
 	

To convert only part of this Security, state the principal amount to be converted (which must be $1,000 or an integral multiple of $1,000):
	

(Insert assignee's soc. sec. or tax ID no.)	
 	

$
	

(Print or type assignee's name, address and zip code)	
 	

If you want the stock certificate made out in another person's name fill in the form below:
	

and irrevocably appoint                  agent to transfer this Security on the books of the Company. The agent may substitute another to act for
him.	
 	

(Insert the other person's soc. sec. tax ID no.)
	

 	
 	

 (Print or type other person's name, address and zip code)

 

	Date:	 	 	 	Your Signature:	 	 
	 	 	
	 	 	 	

	

 	
 	

 
	

 (Sign exactly as your name appears on the other side of this Security)	
 	

 

 

	Signature Guaranteed	 	 
	

 Participant in a Recognized Signature Guarantee Medallion Program	
 	

 
	

By:	
 	

 	
 	

 
	 	 	
 Authorized Signatory	 	 

A-8

 
SCHEDULE OF INCREASES AND DECREASES OF GLOBAL SECURITY  

 Initial Principal Amount of Global Security:            ($            ).  

	Date
 
	 	Amount of Increase in Principal Amount of Global Security
	 	Amount of Decrease in Principal Amount of Global Security
	 	Principal Amount of Global Security After Increase or Decrease
	 	Notation by Registrar or Security Custodian

A-9

EXHIBIT B  

 [FORM OF FACE OF CERTIFICATED SECURITY]  

        THE SECURITY EVIDENCED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES
LAWS, AND MAY NOT BE OFFERED OR SOLD EXCEPT AS SET FORTH IN THE FOLLOWING SENTENCE, BY ACQUISITION HEREOF, THE HOLDER: 

	(1)
	REPRESENTS
THAT IT IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT;

	(2)
	AGREES
THAT IT WILL NOT WITHIN TWO YEARS AFTER THE ORIGINAL ISSUANCE OF THIS SECURITY RESELL OR OTHERWISE TRANSFER THE SECURITY EVIDENCED HEREBY OR THE COMMON STOCK ISSUABLE UPON
CONVERSION OF SUCH SECURITY EXCEPT (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT,
(C) TO A NON-U.S. PERSON OUTSIDE THE UNITED STATES IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT, (D) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE
144 UNDER THE SECURITIES ACT, IF AVAILABLE, (E) TO AN INSTITUTIONAL INVESTOR THAT IS AN ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, IF AVAILABLE, OR (F) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER
THE SECURITIES ACT AND WHICH CONTINUES TO BE EFFECTIVE AT THE TIME OF SUCH TRANSFER; AND

	(3)
	AGREES
THAT IT WILL DELIVER TO EACH PERSON TO WHOM THE SECURITY EVIDENCED HEREBY IS TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE 2(F) ABOVE) A NOTICE SUBSTANTIALLY TO THE
EFFECT OF THIS LEGEND. 

        The
foregoing legend may be removed from this Security on satisfaction of the conditions specified in the Indenture. 

 
deCODE genetics, Inc.  

 3.5% Senior Convertible Notes due 2011  

	No.:	 	CUSIP: 243586AA2
	Issue Date: [•]	 	ISIN: US243586AA22
	 	 	Principal Amount: $

        deCODE genetics, Inc., a Delaware corporation, promises to pay
to                        . or registered assigns, the principal amount of
[            dollars ($            )] on [    •    ]. 

        Interest
Payment Dates: April 15 and October 15, commencing October 15, 2004. 

        Record
Dates: April 1 and October 1. 

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

        IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal. 

	Dated:                       , 200	 	deCODE genetics, Inc.
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	
 Title:
	

TRUSTEE'S CERTIFICATE OF AUTHENTICATION	
 	

 	
 	

 
	

THE BANK OF NEW YORK,

as Trustee, certifies that this is one of the Securities referred to in the within-mentioned Indenture.	
 	

 	
 	

 
	

By:	
 	

 	
 	

 	
 	

 
	 	 	
 Authorized Signatory	 	 	 	 

B-2

 
[FORM OF REVERSE OF CERTIFICATED SECURITY IS IDENTICAL TO EXHIBIT A]  

B-3

EXHIBIT C  

3.5% Senior Convertible Notes due 2011  

 Transfer Certificate  

        In connection with any transfer of any of the Securities or beneficial interest in a Global Security that is a Restricted Security within the period prior to the
expiration of the holding period applicable to the sales thereof under Rule 144(k) under the Securities Act of 1933, as amended (the Securities Act) (or any successor provision), the
undersigned registered owner or beneficial owner of this Security hereby certifies with respect to
$                                         
 principal amount of the above-captioned Securities (the "Surrendered
Securities") presented or surrendered on the date hereof for registration of transfer, or for exchange or conversion where the securities issuable upon such exchange or conversion are to be registered
in a name other than that of the undersigned registered or beneficial owner (each such transaction being a "transfer"), that such transfer complies with the restrictive legend set forth on the face of
the Surrendered Securities for the reason checked below: 

	o
	A
transfer of the Surrendered Securities is made to the Company or any subsidiaries; or

	o
	The
transfer of the Surrendered Securities complies with Rule 144A under the Securities Act; or

	o
	The
transfer of the Surrendered Securities complies with Rule 501(a)(1), (2), (3) or (7) of Regulation D under
the Securities Act; or

	o
	The
transfer of the Surrendered Securities is pursuant to an effective registration statement under the Securities Act; or

	o
	The
transfer of the Surrendered Securities is pursuant to another available exemption from the registration requirement of the Securities
Act; 

and unless the box below is checked, the undersigned confirms that, to the undersigned's knowledge, such Securities are not being transferred to an "affiliate" of the Company
as defined in Rule 144 under the Securities Act (an "Affiliate"). 

	o
	The
transferee is an Affiliate of the Company. 

	Dated:                       , 200	 	 
	 	 	
 Signature(s)
	

Signature Guarantee:	
 	

 
	

 Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor acceptable to the Trustee.	
 	

 

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Exhibit 4.2

INDENTURE

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00067-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00067-of-00352.parquet"}]]