Document:

EX-10.8

 Exhibit 10.8 

DATED                 JANUARY 19, 2018 

NEW CONNECT INVESTMENTS LIMITED 

AND 
 ORCHARD
THERAPEUTICS LIMITED 
  
  

LEASE OF 2nd and 3rd FLOOR, 108
CANNON STREET, LONDON 
  
  

Lewis Silkin LLP 
 5
Chancery Lane 
 Clifford’s Inn 

London EC4A 1BL 
 (Ref:
EMH8296/112671.14) 

 CONTENTS 
  

							
	 1
	 	 DEFINITIONS AND INTERPRETATION
	  	 	3	 
	 2
	 	 DEMISE TERM RENT AND
RENT PAYMENT DATES
	  	 	9	 
	 3
	 	 TENANT’S COVENANTS REFERRING
TO SCHEDULE 3
	  	 	10	 
	 4
	 	 LANDLORD’S COVENANTS REFERRING
TO SCHEDULE 4
	  	 	10	 
	 5
	 	 PROVISOS REFERRING TO SCHEDULE
5
	  	 	10	 
	 6
	 	 INCORPORATION OF SCHEDULES 6, 7, 8 AND
9
	  	 	10	 
	 7
	 	 IMPLIED RIGHTS OF ENFORCEMENT
BY THIRD PARTIES EXCLUDED
	  	 	10	 
	 8
	 	 TENANT’S OPTION TO
DETERMINE
	  	 	10	 

  

					
	 SCHEDULE 1
	  	 	12	 
	 SCHEDULE 2
	  	 	16	 
	 SCHEDULE 3
	  	 	17	 
	 SCHEDULE 4
	  	 	30	 
	 SCHEDULE 5
	  	 	31	 
	 SCHEDULE 6
	  	 	35	 
	 SCHEDULE 7
	  	 	40	 
	 SCHEDULE 8
	  	 	49	 
	 SCHEDULE 9
	  	 	50	 

  

 LAND REGISTRY PRESCRIBED CLAUSES 

 

			
	 LR1 Date of lease
	  	 19 January 2018

		
	LR2 Title number(s)	  	 LR2.1 Landlord’s title number(s)
  

LN38304
  

LR2.2 Other title numbers
  

None

		
	LR3 Parties to this lease	  	 Landlord
  

New Connect Investments Limited, a company incorporated in the British Virgin Islands with company number 1920596 and whose registered office is at PO
Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands whose address for service in England and Wales is care of Nan Fung UK Properties Limited (company registration number 09543279) whose registered office is at
3rd Floor, 11-12 St James’s Square, London, United Kingdom SW1Y 4LB (whose correspondence address is at The Pavilion, 96 Kensington High Street, London
W8 4SG)
  
 Tenant

 
 ORCHARD THERAPEUTICS LIMITED a company incorporated in England and Wales
(registered number 09759506) whose registered office is at Birchin Court, 20 Birchin Lane, London, England EC3V 9DU

		
		  	 Other parties
  

None

		
	LR4 Property	  	In the case of a conflict between this Clause and the remainder of this Lease then for the purposes of registration this Clause shall prevail. The Premises as defined in Schedule 1
		
	LR5 Prescribed statements etc	  	LR5.1 Not applicable LR5.2 Not applicable
		
	LR6 Term for which the Property is leased	  	 The Term is as follows:
  

Five years from and including 8 January 2018 and expiring on 7 January 2023

		
	LR7 Premium	  	None
		
	LR8 Prohibitions or restrictions on disposing of this lease	  	The lease contains a provision that prohibits or restricts dispositions

  
 1 

			
	LR9 Rights of acquisition etc	  	 LR9.1 Tenant’s contractual rights to renew this lease to acquire the reversion or another lease of the Property or to acquire an
interest in other land
  
 None

 
 LR9.2 Tenant’s covenant to (or offer to) surrender this lease

 
 None
  

LR9.3 Landlord’s contractual rights to acquire this lease
  

None

		
	LR10 Restrictive covenants given in this lease by the Landlord in respect of land other than the Property	  	None
		
	LR11 Easements	  	LR11.1 Easements granted by this lease for the benefit of the Property The rights and matters set out in Schedule 1 Part 2 LR11.2 Easements granted or reserved by this lease over the Property for the benefit of other property The
rights and matter set out in Schedule 1 Part 3
		
	LR12 Estate rentcharge burdening the Property	  	None
		
	LR13 Application for standard form of restriction	  	None
		
	LR14 Declaration of trust where there is more than one person comprising the Tenant	  	Not applicable

  
 2 

 OPERATIVE PROVISIONS 

 

	1	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 In this Lease: 

“1954 Act” 

means the Landlord and Tenant Act 1954; 

“Authorised Guarantee Agreement” 

means an agreement as defined in s.16 of the Landlord and Tenant (Covenants) Act 1995 in a form to be determined by the Landlord acting
reasonably; 
 “Base Rate Interest” 

means Interest at an annual rate equal to the base rate of HSBC Bank plc (or if that rate ceases to be published such other comparable rate of
interest as the Landlord shall reasonably specify) from time to time; 
 “Break Date” 

means 8 January 2022; 

“Building” 

means the building known as 108 and 108a Cannon Street and 3 and 4 Laurence Pountney Lane registered at the Land Registry under title number
LN38304 including landlord’s fixtures and fittings and any areas owned by the Landlord and used and enjoyed with it and any extensions or additions to it; 

“Category A Specification” 

means the specification annexed to this Lease in Schedule 9; 

“CDM Regulations” 

means the Construction (Design and Management) Regulations 2015 as amended supplemented or replaced from time to time; 

“Commercial Rent Arrears Recovery” 

means the procedure by which a landlord can recover rent arrears due under a commercial lease from a tenant pursuant to the Tribunals, Courts
and Enforcement Act 2007 (as amended, varied, supplemented or re-enacted from time to time); 

“Common Media” 

means Conducting Media serving the Building but not exclusively serving any Lettable Area; 

“Common Parts” 

means all parts of the Building available for general use from time to time in common with the Landlord and the lawful occupiers of the
Building; 
 “Conducting Media” 

means pipes, wires, cables, sewers, drains, watercourses, trunking, ducts, flues, gutters, gullies, channels, conduits, and other media but not
including any service risers or any other airspace through which the media run; 
 “CRC Participant” 

means the Landlord, any participant from time to time responsible for compliance with the Energy Scheme in respect of the Building and any
Group Undertaking of the Landlord or that participant where “Participant” and “Group Undertaking” have the meanings given to them in the CRC Energy Efficiency Scheme Order 2013; 

  
 3 

 “Dispute” 

means any dispute or difference which may arise between the Landlord and the Tenant concerning: 

 

	 	(a)	 the amount or duration of the rent to be abated pursuant to paragraph 3.1 or 5.2(a) of Schedule 6; and

  

	 	(b)	 any dispute arising as a result of a failure to resolve any issue under paragraph 3.6 of Schedule 7, Part 1;

 “Dispute Resolution Procedure” 

means the procedure for the resolution of any Dispute as set out in paragraph 15 of Schedule 5; 

“Electronic Communications Apparatus” 

means “electronic communications apparatus” as defined in schedule 2 to the Telecommunications Act 1984 as amended by the
Communications Act 2003; 
 “Encumbrances” 

means the matters contained or referred to in the documents identified in Schedule 2; 

“Energy Costs” 

means the aggregate of: 
  

	 	(a)	 the anticipated or actual costs and charges incurred by or on behalf of any CRC Participant in purchasing
carbon allowances in relation to the Energy Scheme; and 

  

	 	(b)	 the management costs relating to the implementation of, participation in and operation of the Energy Scheme
incurred by or on behalf of any CRC Participant; 

 “Energy Scheme” 

means the Carbon Reduction Commitment Energy Efficiency Scheme administered in accordance with the CRC Energy Efficiency Scheme Order 2013 or
any later order or any similar scheme amending or replacing it; 
 “Environment” 

means all or any of the following media, namely air (including air within building or other natural or manmade structures whether above or
below ground), water (including groundwater and water in pipe and sewerage systems) and land; 
 “Environmental Rating” 

means any rating generated from time to time by the Environmental Rating System in respect of the Premises and/or the Building; 

“Environmental Rating System” 

means any rating system for the Premises/Building mandated by legislation for the purposes of measuring the environmental efficiency and/or
performance of the Premises/Building including but not limited to the systems used for EPCs and BREEAM; 
 “EPC” 

means an Energy Performance Certificate and Recommendation Report as defined in the Energy Performance of Buildings (England and Wales)
Regulations 2012 as amended or updated from time to time; 
 “Excluded Plant” 

means the plant and machinery and Conducting Media comprised in the central heating and hot water system
air-conditioning and ventilation system serving: 
  

	 	(a)	 the Premises in common with other parts of the Building; and/or 

  
 4 

	 	(b)	 exclusively serving the Premises but connected to a system serving other parts of the Building including any
items installed by the Tenant or anyone claiming title to the Premises through or under the Tenant; 

 “Existing
EPC” 
 means a copy of the EPC for the Building reference no 9851-3078-03620400-4105; 

“Expert” 
 means
a chartered surveyor having not less than ten years’ experience; 
 “Group Company” 

means any company which is a member of the same group of companies as the Landlord or the Tenant (as the case may be) within the meaning of
section 42(1) of the 1954 Act; 
 “Guarantor” 

means any person who from time to time provides a guarantee and indemnity under the terms of this Lease excluding a guarantor under an
Authorised Guarantee Agreement; 
 “Hazardous Materials” 

means any substance whether in solid, liquid or gaseous form, which is capable of causing harm to human health or to the Environment whether on
its own or in combination with any other substance; 
 “Higher Rate Interest” 

means four per cent above Base Rate Interest; 

“Insolvency Event” 

means: 
  

	 	(a)	 in relation to a company 

 

	 	(i)	 the taking of any step in connection with any voluntary arrangement or other compromise, scheme or arrangement
for the benefit of any creditors of the company; 

  

	 	(ii)	 the making of an administration order in relation to the company; 

 

	 	(iii)	 the appointment of an administrator in relation to the company; 

 

	 	(iv)	 the appointment of a receiver or an administrative receiver in relation to any property or income of the
company; 

  

	 	(v)	 the making of a winding up order in respect of the company; 

 

	 	(vi)	 a resolution passed to voluntarily wind up the company (other than a resolution to wind up the company for the
purpose of amalgamation or reconstruction of a solvent company); 

  

	 	(vii)	 the striking off of the company from the register of companies or the company otherwise ceasing to exist,

 and these provisions shall apply mutatis mutandis in relation to a Partnership or Limited Partnership or Limited
Liability Partnership (as defined in the Partnership Act 1890, the Limited Partnerships Act 1907 and the Limited Liability Partnerships Act 2000 respectively) except where the context requires otherwise and where relevant with the same modifications
as referred to in the Insolvent Partnerships Order 1994 and the Limited Liability Partnerships Regulations 2001; 

  
 5 

	 	(b)	 in relation to an individual: 

 

	 	(i)	 the taking of any step in connection with any voluntary arrangement or other compromise, scheme or arrangement
for the benefit of any creditors of the individual; 

  

	 	(ii)	 the making of a bankruptcy order against the individual; 

 

	 	(iii)	 the appointment of a trustee in bankruptcy in relation to the individual; 

 

	 	(c)	 where a person is incorporated or resident in a jurisdiction outside England and Wales, any event or
circumstance that occurs which under the laws of that jurisdiction has an analogous or equivalent effect to any of the events in paragraphs (a) and (b) of this definition; 

“Insured Risks” 

means fire lightning explosion aircraft and articles dropped from them riot civil commotion malicious damage storm tempest flood earthquake
bursting or overflowing of water tanks apparatus and pipes impact by any vehicle subsidence landslip ground heave terrorism and such other risks as the Landlord may reasonably consider necessary to insure, subject in all cases to any excesses,
limitations and exclusions imposed by the insurers; 
 “Interest” 

means interest calculated on a day-to-day basis (as well before
as after judgment); 
 “Landlord” 

means the party named as such in Clause LR3 and includes the reversioner for the time being immediately expectant on the Term; 

“Landlord’s Costs” 

has the meaning given to it in Schedule 7, Part 1 paragraph 1.3; 

“Landlord’s Regulations” 

means the reasonable regulations made by the Landlord from time to time and notified to the Tenant having regard to good estate management and
the safety, precaution, maintenance, management and general amenity of the Building (including the reasonable regulations relating to the Roof Garden Terrace, the bike racks, lockers and Plant Area) save that in the event of any conflict between
such regulations and the terms of this Lease, the terms of this Lease will prevail; 
 “Landlord’s Surveyor” 

means a surveyor or member of a firm of surveyors who shall be a member of the Royal Institution of Chartered Surveyors or suitably experienced
and such surveyor may be a person employed by the Landlord or a company which is a Group Company; 
 “Lease” 

means this Lease and includes: 
  

	 	(a)	 a licence or consent granted pursuant to; 

 

	 	(b)	 any variation of; and 

 

	 	(c)	 any deed or instrument made supplemental to this Lease; 

“Lettable Areas” 

means the area within the Building which is designated for and capable of exclusive beneficial occupation; 

“Main Structure” 

means the exterior and main structure of the Building including the foundations roofs windows load-bearing walls load-bearing columns ceilings
and floors (but excluding any raised floors suspended ceilings all internal cladding plasterwork and decoration (save where internal to any Common Parts) and all floor screeding and finishes); 

  
 6 

 “Management Premises” 

means all administrative security and control offices and centres and stores (if any) maintained by the Landlord for managing the Building and
providing the Services and any accommodation for a caretaker housekeeper porter or facilities manager employed for purposes connected with the Building; 

“Net Internal Area” 

means net internal floor area measured in accordance with Definition 3 of the RICS Code of Measuring Practice (6th edition November 2007); 

“Outgoings” 

means all existing and future rates, taxes, charges, assessments, impositions, levies, contributions and outgoings at any time payable, charged
or assessed on property or the owner or occupier of property in relation to the Building or the Premises or the owner or occupiers of them whether on a one-off, periodic or irregular basis and whether or not
in the nature of capital or income payments but excluding any income or corporation tax imposed on the Landlord in respect of the grant of this Lease, the receipt of rents reserved by this Lease or any dealing or disposition by the Landlord of its
interest in the Premises; 
 “Permitted Part” 

means a part of the Premises consisting of any whole floor of the Premises; 

“Permitted Use” 

means use as high class offices within Class B1(a) of the Schedule to the Town and Country Planning (Use Classes) Order 1987 as in force
at the date of this deed; 
 “Planning Acts” 

means the Town and Country Planning Act 1990 and any other statutes, regulations and orders relating to town and country planning in force from
time to time; 
 “Plans” 

means any of the plans in this Lease; 

“Plant Area” 

means an area on the roof of the Building designated from time to time by the Landlord; 

“Premises” 

means the premises described in Schedule 1 Part 1; 

“Reception Hours” 

the hours between 8:00 am and 5:00 pm on Mondays to Fridays other than on public holidays provided that this will not limit the Tenant access
to the Building and/or the Premises and the Tenant will have access 24 hours a day all year; 
 “Rent” 

means the sums payable by the Tenant to the Landlord in accordance with clause 2; 

“Rent Days” 

means 25 March, 24 June, 29 September and 25 December in each year and the relevant Rent Day shall be construed
accordingly; 
 “Rent Commencement Date” 

means the Term Commencement Date; 

“Roof Garden Terrace” 

means that part of the eighth floor of the Building known as the roof terrace; 

“Service Charge” 

has the meaning given to it in Schedule 7, Part 1 paragraph 1.2; 

  
 7 

 “Services” 

has the meaning given to it in Schedule 7, Part 1 paragraph 1.4; 

“Tenant” 
 means
the party named as such in Clause LR3 and includes the successors in title and assigns of the Tenant; 
 “Term” 

means the term as set out in Clause LR6; 

“Term Commencement Date” 

means the first day of the Term; 

“Trigger Event” 

means any of the following: 
  

	 	(a)	 the disclaimer of this Lease by the Crown or by a liquidator or trustee in bankruptcy of the Tenant;

  

	 	(b)	 the Tenant is struck off the register of companies or otherwise ceases to exist; 

 

	 	(c)	 the forfeiture of this Lease by the Landlord; 

((a), (b) and (c) together being “Termination Trigger Events”); 

 

	 	(d)	 the appointment of an administrator in respect of the Tenant; 

 

	 	(e)	 the proposal by the Tenant or any of its creditors for the Tenant to enter into any voluntary arrangement,
scheme of arrangement or other arrangement with its creditors; 

 ((d) and (e) together being “Other Trigger
Events”); 
 “Uninsured Risk” 

means an Insured Risk against which insurance is not or ceases to be obtainable for such risks on normal commercial terms in the London
insurance market at reasonable commercial rates generally available in the London insurance market for a property of this type size and location or excluded from being so by reason of withdrawal of cover by the insurer and which is not otherwise
available to be insured on the London insurance market; 
 “VAT” 

means value added tax and any other tax of a similar nature; and 

“Wireless Data Services” 

means the provision of wireless data, voice or video connectivity or wireless services permitting or offering access to the internet or any
wireless network, mobile network or telecommunications system that involves a wireless or mobile device. 
  

	1.2	 Where two or more persons are included in any expression the liability under any covenant or other obligation
on their part shall be joint and several. 

  

	1.3	 Any words or expressions importing the singular number include the plural number and vice versa and words
importing gender include any other gender. 

  

	1.4	 Unless otherwise specified any reference to an act of parliament includes a reference to that act as amended or
replaced whether before or after the date of this Lease and to subordinate legislation or bylaws or regulations made under it and any general reference to statute or legislation includes subordinate legislation bylaws and regulations.

  

	1.5	 “liability” includes (where the context allows) claims demands proceedings damages losses
costs and expenses. 

  
 8 

	1.6	 Interest payable under this Lease is payable from and including the due date (which where appropriate will be
the date of expenditure) until but excluding the date of payment. 

  

	1.7	 Any reference to the end of the Term means the end or earlier termination of this Lease for whatever reason.

  

	1.8	 Where the Tenant is placed under a restriction by this Lease it includes an obligation not to permit or allow
the restriction to be infringed by any person under the Tenant’s control. 

  

	1.9	 Reference to consent or approval not being unreasonably withheld also means it must not be unreasonably
delayed. 

  

	1.10	 Any consent or approval (where necessary) must be obtained before the act or event to which it applies is
carried out or done and will be effective only if in the reasonable form the party giving it properly requires. 

  

	1.11	 The Landlord’s rights to enter under this Lease are exercisable also by its employees agents and
workpeople and any others authorised by it. 

  

	1.12	 The Tenant’s rights to enter under this Lease are exercisable also by its employees agents and workpeople
and any others authorised by it. 

  

	1.13	 References to “sustainable” and “sustainability” shall: 

 

	 	(a)	 include the sourcing specification performance recycling and suitability for purpose of any materials processes
or methodology; and 

  

	 	(b)	 the question of whether something is sustainable is to be judged at the time the issue arises and not at the
date of this Lease. 

  

	1.14	 Reference to “adjoining premises” means any land or buildings adjoining or nearby the Premises
and the Building, whether or not owned by the Landlord. 

  

	1.15	 “includes”, “including” and similar words are used without limitation or
qualification to the subject matter of the relevant provision. 

  

	1.16	 If any provision is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of
the remainder of this Lease will be unaffected. 

  

	2	 DEMISE TERM RENT AND RENT
PAYMENT DATES 

 The Landlord lets the Premises with full title guarantee to the Tenant:

  

	 	(a)	 with the rights set out in Schedule 1 Part 2; 

 

	 	(b)	 except and reserved to the Landlord the rights set out in Schedule 1 Part 3; 

 

	 	(c)	 for the Term; 

  

	 	(d)	 subject to the Encumbrances, 

the Tenant paying during the Term: 
  

	 	(a)	 the yearly rent of £308,000 from the Rent Commencement Date until the expiry of twelve months and 34 days
from the Rent Commencement Date, and £616,000 thereafter (being £306,310.50 in respect of the third floor and £309,689.50 in respect of the second floor per annum) by equal quarterly payments in advance on the Rent Days, the first
payment to be calculated from the Rent Commencement Date to the day before the next quarter day (both dates inclusive) and to be made on the Rent Commencement Date PROVIDED THAT if this Lease is not determined in accordance with clause 8 the yearly
rent from the day after the Break Date until the expiry of six months from the day after the Break Date will be £308,000 per annum; 

  
 9 

	 	(b)	 as additional rent the Service Charge the first payment being in respect of the period from and including the
Term Commencement Date; 

  

	 	(c)	 within 10 working days of written demand as additional rent the sums specified in Schedule 6 the first payment
to be made in respect of the period from and including the Term Commencement Date; 

  

	 	(d)	 as additional rent (and subject to receipt of a valid VAT invoice) any VAT which may be properly chargeable in
respect of any rent payable under this Lease; and 

  

	 	(e)	 as additional rent any Interest and other sums payable under this Lease as rent under and at the times set out
in this Lease. 

  

	3	 TENANT’S COVENANTS REFERRING
TO SCHEDULE 3 

 The Tenant covenants with the Landlord to observe and perform the
covenants and stipulations in Schedule 3. 
  

	4	 LANDLORD’S COVENANTS REFERRING
TO SCHEDULE 4 

 The Landlord covenants with the Tenant to observe and perform the
covenants and stipulations in Schedule 4. 
  

	5	 PROVISOS REFERRING TO SCHEDULE 5

 It is agreed and declared as stated in Schedule 5. 

 

	6	 INCORPORATION OF SCHEDULES 6, 7, 8 AND 9

 The provisions in Schedule 6, Schedule 7, Schedule 8 and Schedule 9 are incorporated. 

 

	7	 IMPLIED RIGHTS OF ENFORCEMENT BY
THIRD PARTIES EXCLUDED 

  

	7.1	 Unless the right of enforcement is expressly granted it is not intended that a third party should have the
right to enforce a provision of this Lease under the Contracts (Rights of Third Parties) Act 1999. 

  

	7.2	 The parties may terminate or vary this Lease without the consent of a third party to whom an express right to
enforce any of its terms has been provided. 

  

	8	 TENANT’S OPTION TO DETERMINE

  

	8.1	 The Tenant can determine this Lease on the Break Date by giving to the Landlord not less than
nine months’ prior written notice and provided that the Tenant complies with the conditions set out in clause 8.2 below (the “Break Conditions”). 

 

	8.2	 The Break Conditions are that the Tenant shall: 

 

	 	(a)	 up until the Break Date have paid the yearly rent and Service Charge reserved by this Lease for the period up
to and including the Break Date provided that such Service Charge has been demanded in writing at least 14 days prior to the Break Date; 

  

	 	(b)	 give up vacant possession of the Premises on the Break Date; and 

 

	 	(c)	 not have granted any sublease, licence to occupy or tenancy at will or any other occupation interests
whatsoever in relation to the Premises or any part thereof which shall continue to subsist after the Break Date, 

 but the
Tenant shall not be in breach of this clause 8.2 if on the Break Date there remain any Tenant fixtures, fittings or chattels of an inconsequential nature provided that the Landlord shall have the right to remove the same immediately on determination
of the Lease at the sole cost of the Tenant. 

  
 10 

	8.3	 On the expiry of such notice the Term will end but without affecting the rights or remedies of either party
against the other in respect of any previous breach of any of the covenants or conditions in this Lease. 

  

	8.4	 The Landlord shall refund to the Tenant any yearly rent and Service Charge paid pursuant to clause 8.2(a) paid
in advance by the Tenant in respect of any period after the Break Date within 14 days of the Break Date. 

  

	8.5	 Time is of the essence as to all the dates and periods referred to in this clause 8. 

Executed and delivered as a deed on (but not before) the date of this document. 

  
 11 

 SCHEDULE 1 

Premises rights and exceptions 

Part 1 
 The Premises

 All those Premises on the second and third floors of the Building shown edged red on Plan 1 and Plan 2. 

 

	1.	 The Premises include: 

 

	 	(a)	 all internal walls floors and ceilings (including any raised floors suspended ceilings and the voids below and
above them and all light fittings); 

  

	 	(b)	 all internal cladding plasterwork and decoration and all floor screeding and finishes; 

 

	 	(c)	 all doors door frames equipment fitments and any glass in the doors; 

 

	 	(d)	 all internal windows and other lights and the frames glass equipment and fitments relating to such windows and
lights; 

  

	 	(e)	 all Conducting Media within and exclusively serving the Premises except where they form part of the Excluded
Plant or Common Media; 

  

	 	(f)	 all Landlord’s fixtures and fittings (except where they form part of the Common Media or the Excluded
Plant) including but without limitation the following: 

  

	 	(i)	 electrical services for power lighting and telecommunications; 

 

	 	(ii)	 drainage and water services; 

 

	 	(iii)	 gas services; 

  

	 	(iv)	 fire protection including sprinkler systems (if any); 

 

	 	(v)	 distribution trunking ducting and conduits for electrical telephone and other communication services; and

  

	 	(vi)	 carpets; 

  

	 	(g)	 all improvements and additions made to the Premises; and 

 

	 	(h)	 all tenant’s fixtures. 

 

	2.	 The Premises do not include: 

 

	 	(a)	 the Main Structure but subject to paragraphs 1(c) and 1(d) of this Part 1 of this Schedule 1;

  

	 	(b)	 the airspace within any service risers that run through the Premises; and 

 

	 	(c)	 the Excluded Plant. 

  
 12 

 Part 2 

Rights granted 
  

	1.	 The right in common with all others having similar rights from time to time: 

 

	 	(a)	 of unlimited access and passage to and from the Premises along and through the common accessways leading to and
the common entrance staircases and passages of the Building and by means of the lifts in it; 

  

	 	(b)	 of free passage of services from and to the Premises through the Common Media; 

 

	 	(c)	 of support and protection from the Building and the Common Parts; 

 

	 	(d)	 to use any bicycle parking, showers, lockers and changing area facilities within the basement (or such other
part of the Building as may be designated by the Landlord) of the Building designated by the Landlord for use by the tenants of the Building and lavatories in the Building. Any showers and bicycle parking shall be available to use on a first come
first served basis. Any lockers shall be designated by the Landlord on a pro rata (per square foot) basis; 

  

	 	(e)	 at the cost of the Tenant in relation to such use (such proper and reasonable cost to be determined by the
Landlord acting reasonably) an exclusive right to use the Roof Garden Terrace on not more than three occasions during each year of the Term (or such increased number as may reasonably be approved by the Landlord such approval not to be unreasonably
withheld or delayed) on a “first come first served basis” out of Reception Hours subject to providing the Landlord with not less than 21 days’ written notice and provided that exclusive use of the Roof Garden Terrace has not already
been reserved by another tenant of the Building or by the Landlord on such date together with a non-exclusive right to use (at no cost to the Tenant other than those covered under the Service Charge) the Roof
Garden Terrace on other occasions during the Reception Hours and (where it is not being exclusively used by another tenant in the Building) out of Reception Hours and in accordance with the Landlord’s Regulations regarding the Roof Garden
Terrace, together with rights to access the same along and through common accessways, entrances, staircases and passages of the Building heading to the Roof Garden Terrace; 

 

	 	(f)	 to display the name of the Tenant (and any undertenant) on the Landlord’s indicator board in the entrance
lobby in the Building in the Landlord’s house style and (subject to a maximum of one line for each floor of the Building) and outside the rear entrance to the Premises in a form reasonably approved by the Landlord (such approval not to be
unreasonably withheld or delayed); and 

  

	 	(g)	 to use a fair proportion of the riser space allocated to tenants for their use within the Building that the
Landlord has reasonably designated for the purpose of installing and running new Conducting Media exclusively serving the Premises, 

PROVIDED THAT the rights at paragraphs (d) and (e) above may be suspended or withdrawn for such little time as reasonably necessary
for the Landlord to carry out repairs or alteration to the Building. 
  

	2.	 Subject to the Tenant complying with paragraphs 17.1(b), 17.1(c) and 17.1(d) of Schedule 3, the right to erect
and maintain wireless network equipment, television aerials and satellite dishes and plant not exceeding two metres in height in the Plant Area, of a size and design, and with connections to the Premises, approved in advance by the Landlord (such
approval not to be unreasonably withheld or delayed) subject to the Tenant (and free of any expense to the Landlord): 

  
 13 

	 	(a)	 before commencing any works on the Plant Area obtaining all necessary statutory and other regulatory consents;

  

	 	(b)	 obtaining all necessary wayleave or other agreements with the relevant equipment providers on terms reasonably
acceptable to the Landlord; 

  

	 	(c)	 keeping such plant, equipment, aerials and dishes in good repair and condition; 

 

	 	(d)	 removing such plant and equipment from the Plant Area on assignment of the Lease (if the assignee confirms that
it has no use for such plant and equipment) or on expiry or determination of the Term (whichever is the sooner) and making good all damage caused to the Building by such removal to the reasonable satisfaction of the Landlord; 

 

	 	(e)	 on not less than 14 days’ notice (and subject to the Landlord providing an alternative location) from the
Landlord temporarily removing the plant and equipment to allow the Landlord to carry out inspection maintenance and repair of the Plant Area; and 

  

	 	(f)	 on not less than 21 days’ notice from the Landlord permanently relocating the plant and equipment to
another area on the roof of the Building in a position previously reasonably approved by the Landlord, 

 provided that the
Tenant will not in the exercise of the rights hereby granted cause any annoyance inconvenience disturbance or legal nuisance to the Landlord or any other tenant or occupier of the remainder of the Building. 

 

	3.	 If any of the equipment, aerials, dishes and plant installed in the Plant Area by the Tenant causes a legal
nuisance disturbance or annoyance to the occupiers of any adjoining premises the Landlord may serve on the Tenant notice in writing requiring the Tenant to remove such equipment, aerials, dishes and plant to an alternative suitable location approved
by the Landlord (acting reasonably) and within one month of the date of the notice the Tenant shall remove the equipment, aerials, dishes and plant to such approved alternative suitable location and make good any damage caused by such removal to the
reasonable satisfaction of the Landlord’s Surveyor unless the Landlord’s Surveyor shall reasonably agree with the Tenant (at the cost of the Tenant) to make alterations to the equipment, aerials, dishes and plant that result in the
cessation of such legal nuisance disturbance or annoyance. 

 Part 3 

Exceptions and reservations 
  

	 	1.	 All rights of light or air to the Premises that now exist or that might (but for this reservation) be acquired
over any other land. 

  

	 	2.	 The free passage of services through the Common Media which are now or may at any time be within the Premises.

  

	 	3.	 The right to enter the Premises for the purpose of: 

 

	 	(a)	 anything properly connected with the provision of Services; 

 

	 	(b)	 adding to inspecting cleansing maintaining modernising repairing replacing or altering the Common Media;

  

	 	(c)	 erecting scaffolding and/or building on under or into the Building; 

 

	 	(d)	 preparing any EPCs undertaking or reviewing any measurements required for any Environmental Rating System or
undertaking an air conditioning inspection and for such purposes the right to carry out the necessary tests on Conducting Media, Excluded Plant and any other plant and machinery in the Premises; 

  
 14 

	 	(e)	 ascertaining whether the covenants and conditions on the Tenant’s part of the Lease have been observed;

  

	 	(f)	 to perform any of the covenants and conditions on the Landlord or exercise any rights set out in Part 3 to this
Schedule; 

  

	 	(g)	 to carry out repairs, remove any unauthorised alteration or carry out any other works which the Tenant should
have carried out in accordance with the Tenant’s covenants in this Lease; 

  

	 	(h)	 to carry out or permit to be carried out repairs, maintenance, decoration, replacement, removal and cleaning of
any parts of the Building (excluding the Premises) or any adjoining or neighbouring premises which cannot be reasonably carried out without access to the Premises; 

 

	 	(i)	 to protect the security of the Premises or prevent any easement being acquired over any part of the Building;
and 

  

	 	(j)	 to show the Premises or the Building to a potential purchaser or in the last six months of the Term a tenant.

  

	 	4.	 All rights of entry in Schedule 3. 

 

	 	5.	 In exercising its rights of entry under this Lease the Landlord will: 

 

	 	(a)	 give the Tenant reasonable prior written notice of not less than 48 hours (except in the case of emergency,
when the Landlord must give as much notice as may be reasonably practicable); 

  

	 	(b)	 observe the Tenant’s reasonable requirements (but where that includes being accompanied by the
Tenant’s representative the Tenant must make that representative available); 

  

	 	(c)	 observe any specific conditions to the Landlord’s entry set out in this Lease; 

 

	 	(d)	 cause as little physical damage as is reasonably practicable; and 

 

	 	(e)	 repair any physical damage that the Landlord causes as soon as reasonably practicable to the reasonable
satisfaction of the Tenant. 

  
 15 

 SCHEDULE 2 

The Encumbrances 
 The matters contained
or referred to in title number LN38304 as at 15 November 2017 at 15:33:37 insofar that they subsist and relate to the Premises. 

  
 16 

 SCHEDULE 3 

Covenants by the Tenant 
  

	1	 PAYMENT OF RENTS 

To pay the Rent when stipulated without deduction or set-off and by electronic transmission of funds
unless the Landlord reasonably requires otherwise. 
  

	2	 OUTGOINGS 

 

	2.1	 To pay and indemnify the Landlord against all Outgoings in relation to the Premises. 

 

	2.2	 In the last 12 months of the Term to pay all non-domestic rates in full
and not to claim empty property relief. 

  

	2.3	 Within 14 days of written demand, to pay to the Landlord or as the Landlord may direct a fair and reasonable
proportion of the Energy Costs attributable to: 

  

	 	(a)	 the supply of electricity and gas to the Premises alone; and 

 

	 	(b)	 the supply of electricity and gas to the Premises and any other parts of the Building to the extent that those
Energy Costs do not form part of the Service Charge. 

  

	2.4	 To reimburse the Landlord for loss of relief from non-domestic rates
for unoccupied property which would have been available to the Landlord in respect of vacancy of the Property after the termination of this Lease but for the allowance of relief to the Tenant for vacancy commencing before the termination of this
Lease. 

  

	3	 VAT 

  

	3.1	 To pay within 14 days’ of written demand and subject to receipt of a valid VAT invoice VAT:

  

	 	(a)	 chargeable on goods and services supplied by or on behalf of the Landlord; and 

 

	 	(b)	 paid or payable by the Landlord in respect of sums which the Landlord is entitled to recover from the Tenant
which do not fall within Schedule 3 paragraph 3.1(a). 

  

	3.2	 Not do anything that would result in the disapplication of the option to tax in respect of the Landlord’s
interest in the Building. 

  

	4	 INTEREST ON ARREARS 

 

	4.1	 If the Rent reserved by this Lease and any VAT on them is not paid within 14 days of the due date to pay to the
Landlord Higher Rate Interest on them. 

  

	4.2	 If collection of rent is suspended for material breach of covenant the Tenant must when the breach has been
made good to the Landlord’s reasonable satisfaction or when this Lease is forfeited (as the case may be) pay Higher Rate Interest in addition to the arrears of rent then due. 

 

	5	 DECORATION 

 

	5.1	 To decorate the Premises whenever necessary and also in the six months before the end of the Term (but no more
than once in any two year period) in a proper and workmanlike manner and with appropriate materials of good quality to the reasonable satisfaction of the Landlord and in the final year to obtain the Landlord’s consent to any changes to the
colour or redecoration of the Premises. 

  
 17 

	5.2	 Not to decorate any door or window facing the Common Parts or forming part of the exterior of the Building
except in a colour or colours approved by the Landlord (such approval not to be unreasonably withheld or delayed). 

  

	6	 REPAIRS 

 

	6.1	 Subject to paragraph 6.5 of this Schedule 3 and paragraph 3 of Schedule 4 to keep the Premises in good and
substantial repair and condition and clean excluding damage by an Uninsured Risk or Insured Risks except to the extent insurance moneys are irrecoverable due solely or in part to any act or default of the Tenant or any person deriving title under
the Tenant or any of their respective agents employees licensees or contractors. 

  

	6.2	 Without prejudice to paragraph 6.1 of this Schedule 3 to have all fixtures and fittings which comprise plant or
equipment inspected and serviced at regular intervals by appropriately qualified contractors and to keep full service records with such records to be available at the Premises for the Landlord’s inspection and to replace any fixtures or
fittings (other than the Tenant’s trade fixtures and fittings) that are lost or become beyond economic repair during the Term. 

  

	6.3	 To clean the Premises (including the inside of the windows at regular intervals) and keep it tidy.

  

	6.4	 To keep the carpet tiles or carpet fitted in the Premises clean and in good repair order and condition and to
make good all damage thereto howsoever arising (including accidental damage) and to replace with similar quality carpet tiles of at least equal value all such parts thereof as may at any time be destroyed or damaged as to be incapable of complete
reinstatement to its former condition and not without the written consent of the Landlord to remove any of the said carpet tiles or carpet from the Premises except for the purpose of cleaning or necessary repairs and without prejudice to the
generality of the foregoing within one month prior to the expiration or sooner determination of the Term to replace the carpet or carpet tiles on the Premises with (or if there are no carpet tiles or carpet on the Premises then to install on the
Premises) good quality carpet tiles or (at the discretion of the Landlord) carpet of a type to be specified by the Landlord provided that the value of such carpet or carpet tiles shall not be less in value than £25 per square metre (excluding
VAT) with due allowance for inflation after the date of this Lease. 

  

	6.5	 Not to repair or replace any part of the Excluded Plant. 

 

	6.6	 Upon becoming aware of the same to notify the Landlord immediately of any defect in the Excluded Plant, so that
the Landlord can repair the same in accordance with the terms of this Lease. 

  

	6.7	 Where beyond economic repair to replace any door or window referred to in paragraph 5.2 requiring to be
replaced under paragraph 6.1 of this Schedule 3 with one of similar quality and appearance or otherwise as approved by the Landlord (approval not to be unreasonably withheld or delayed). 

 

	6.8	 In carrying out all repairs and any other works under this Lease to use all reasonable endeavours:

  

	 	(a)	 to do so in a sustainable manner; 

 

	 	(b)	 to treat and maintain all materials in accordance with their manufacturers’ instructions and
recommendations; and 

  

	 	(c)	 to minimise any material and adverse effect on any Environmental Rating System and/or any Environmental Rating.

  
 18 

	7	 ENTRY BY LANDLORD TO VIEW
AND REQUIRE TENANT TO REPAIR 

  

	7.1	 To permit the Landlord at all reasonable times after reasonable notice of not less than 48 hours (except in an
emergency) to enter the Premises to view their condition and to give notice to the Tenant of any unauthorised alterations or any defects which are the Tenant’s responsibility. 

 

	7.2	 Within two months after receipt of any such notice (or sooner if reasonably necessary) to repair and make good
such defects or remove such alterations to the reasonable satisfaction of the Landlord’s Surveyor. 

  

	7.3	 In case of default to permit the Landlord to enter and execute such works and to pay to the Landlord with 14
days of written demand and as a debt all expenses incurred with Higher Rate Interest from the date of expenditure. 

  

	8	 YIELDING UP 

 

	8.1	 At the end of the Term: 

 

	 	(a)	 to yield up the Premises with vacant possession in accordance with the Tenant’s obligations with (subject
to paragraphs 8.1(c) and 8.1(d) of this Schedule 3) all additions and improvements; 

  

	 	(b)	 to reinstate the Premises to the layout, state and condition as set out in the Category A Specification and
with new carpeting as provided for in paragraph 6.4 of this Schedule 3; 

  

	 	(c)	 not to remove any alterations which have been carried out during the Term which improve the energy or water
efficiency of the Premises and/or any Environmental Rating unless such removal is reasonably required by the Landlord; 

  

	 	(d)	 (subject to paragraph 8.1(c) above or if reasonably required by the Landlord) at the Tenant’s expense to
remove from the Premises any alterations or additions made by the Tenant or its predecessors in title during the Term or anyone claiming title to the Premises through or under the Tenant or any of them either before the commencement of or during the
Term; 

  

	 	(e)	 to make good to the reasonable satisfaction of the Landlord any damage caused to the Premises by such removal;

  

	 	(f)	 to give up all keys to the Premises to the Landlord; 

 

	 	(g)	 to remove all signs erected by the Tenant on or near the Premises and to make good as soon as reasonably
practicable any damage caused; 

  

	 	(h)	 to deliver to the Landlord the original health and safety file relating to the Premises (properly completed)
and all assessments reports and surveys carried out and relating to the Premises (whether carried out pursuant to a statutory requirement or otherwise) and all manuals working drawings and service records (held by the Tenant) relating to plant and
equipment remaining at the Premises (including all such materials relating to installations of the Tenant which are to remain at the Premises) and to assign to the Landlord (if reasonably required) the benefit of any guarantees or warranties which
are capable of assignment and which relate to plant and equipment remaining at the Premises; 

  

	 	(i)	 to deliver to the Landlord this Lease and to remove from any register of title affected any entry relating to
this Lease or to any rights granted by this Lease and (without prejudice to its obligation to remove any such entry) to sign or execute such application or document as the Landlord may reasonably require to ensure such removal;

  
 19 

	 	(j)	 to secure the Tenant’s covenant in paragraph 8.1(i) of this Schedule 3 the Tenant irrevocably appoints the
Landlord (at the end of the Term only) as attorney of the Tenant and in its name (and with power to appoint the Landlord’s solicitor as substitute attorney) to make any application or sign or execute any document which has been required under
paragraph 8.1(i) of this Schedule 3 but only if the Tenant is in breach of that paragraph. 

  

	8.2	 In case of default the Landlord may do anything necessary to comply with the requirements in paragraph 8.1 if
the Tenant has failed to comply with such requirements within a reasonable time on written notice from the Landlord. 

  

	8.3	 To pay to the Landlord within 14 days of written demand all expenses so incurred in accordance with paragraph
8.1 with Higher Rate Interest from the date of expenditure. 

  

	9	 TO NOTIFY LANDLORD OF STATUTORY
NOTICES 

  

	9.1	 As soon as reasonably practicable following receipt of any permission notice direction order certificate
assessment or proposal relevant to the Landlord’s interest in the Premises given or issued under any act of parliament to produce a copy to the Landlord. 

 

	9.2	 At the request of the Landlord to make (or join with the Landlord in making) such objections or representations
as the Landlord reasonably requires in respect of any such permission notice order certificate assessment or proposal at the Landlord’s cost and provided that such objection and representation does not affect the Tenant’s use and enjoyment
of the Premises. 

  

	10	 COMPLIANCE WITH STATUTORY AND
INSURANCE REQUIREMENTS 

  

	10.1	 At the Tenant’s own expense to comply with (except where the Landlord is required to comply with such
obligations under the Lease): 

  

	 	(a)	 all legislation from time to time in force; 

 

	 	(b)	 the requirements of the Landlord’s insurers notified to the Tenant in writing; 

 

	 	(c)	 the reasonable requirements of the Landlord relating to the Premises its use or the rights granted by this
Lease. 

  

	10.2	 Not to do anything which may result in the Landlord under any statute incurring or having imposed upon it any
liability. 

  

	10.3	 In default the Landlord may enter the Premises (if the Tenant fails to rectify such default within a reasonable
period of time following notice from the Landlord) and do anything reasonably necessary to ensure compliance with this paragraph 10. 

  

	10.4	 To pay to the Landlord within 14 days of written demand all expenses so incurred as a debt with Higher Rate
Interest from the date of expenditure. 

  

	10.5	 If required by the Landlord at the Tenant’s cost to connect to the Landlord’s reasonable satisfaction
any fire alarm system for the Premises into any fire alarm system for the Building. 

  

	11	 COMPLIANCE WITH TOWN AND COUNTRY
PLANNING REQUIREMENTS 

  

	11.1	 To comply with the Planning Acts in relation to the Tenant’s use and occupation of the Premises.

  

	11.2	 Not to make an application for planning permission in relation to the Premises or to raise any notices in
respect of any applications without the consent of the Landlord (such consent not to be unreasonably withheld or delayed) if the application relates to a matter for which the Landlord cannot unreasonably withhold or delay its consent under the
Lease. 

  
 20 

	11.3	 Not to implement any planning permission relating to the Premises without the Landlord’s consent (such
consent to be unreasonably withheld or delayed where it has given consent to the application for such planning permission). 

  

	11.4	 Unless the Landlord otherwise directs to complete before the end of the Term any works stipulated to be carried
out to the Premises by a date subsequent to the end of the Term as a condition of any planning permission granted for any development begun before the end of the Term. 

 

	11.5	 When requested to produce such reasonable evidence as the Landlord reasonably requires to satisfy itself the
provisions of this paragraph have been fully complied with. 

  

	12	 ENTRY BY THE LANDLORD AND
OTHERS TO REPAIR AND FOR OTHER PURPOSES 

 

	12.1	 To permit the Landlord and occupiers of any adjoining premises or their workpeople to enter the Premises upon
reasonable notice and not less than 48 hours (except in the case of emergency) for the purpose of: 

  

	 	(a)	 inspecting or executing repairs or alterations to or upon such adjoining premises or the Building;

  

	 	(b)	 inspecting maintaining repairing or replacing the Excluded Plant; 

 

	 	(c)	 decorating the Common Parts and the exterior of the Building (where such works cannot otherwise reasonably be
carried out or be carried out without disproportionate expenditure by the Landlord); 

  

	 	(d)	 doing anything the Landlord reasonably considers desirable for the performance of its covenants in this Lease
or to third parties or the provision of the Services; 

  

	 	(e)	 inspecting or surveying the Premises for valuation (but no more than once every year) letting or sale purposes
or to prepare any schedule or inventory to the Premises or the Building; and 

  

	 	(f)	 doing anything reasonably incidental to the repair maintenance management environmental improvement or security
of the Building or the performance of the Landlord’s legal duties and compliance with proper practice in relation to health and safety or otherwise, 

subject to the person exercising such rights causing as little inconvenience and disturbance to the Tenant and making good any damage caused.

  

	12.2	 To permit all persons with authority from the Landlord upon reasonable notice not less than 48 hours at all
reasonable times in the daytime to enter and view the Premises for the purposes of selling or in the last six months of the term for the purposes of reletting. 

 

	13	 COSTS ON BREACH 

To pay on demand all costs, charges and expenses (including enforcement officers and professional fees) incurred by the Landlord: 

 

	 	(a)	 resulting from any breach by the Tenant of any of its obligations under this Lease; 

 

	 	(b)	 in or in contemplation of any proceedings under sections 146 and/or 147 of the Law of Property Act 1925
notwithstanding forfeiture is avoided otherwise than by relief granted by the court; 

  

	 	(c)	 in the recovery or attempted recovery of arrears of any rent due under this Lease; and/or

  
 21 

	 	(d)	 in the preparation and/or service of any notice or schedule relating to the condition of the Premises whether
during or within six months after the end of the Term but if after the end of the Term only in respect of wants of repair occurring during the Term. 

  

	14	 COMMON PARTS 

Not to obstruct the Common Parts with any articles or goods and to keep all Common Parts clear and tidy of the Tenant’s articles, goods
and rubbish. 
  

	15	 NOT TO INTERFERE WITH COMMON
MEDIA 

 Not to overload damage or interfere with: 

 

	 	(a)	 the Common Media or the Conducting Media; 

 

	 	(b)	 the plant and machinery and landlord’s fixtures and fittings in the Common Parts; 

 

	 	(c)	 any sprinkler or fire alarm system serving the Premises; or 

 

	 	(d)	 the Excluded Plant. 

 

	16	 AS TO ALTERATIONS 

 

	16.1	 

  

	 	(a)	 Not to carry out any structural alterations to the Premises. 

 

	 	(b)	 Subject to paragraph 16.2 not without the consent of the Landlord to make any alterations or additions to the
Premises (such consent not to be unreasonably withheld or delayed). 

  

	 	(c)	 If paragraph 16.3 is not complied with the Landlord may refuse or withdraw consent under this paragraph 16.1.

  

	16.2	 Notwithstanding the provisions of paragraph 16.1 the Tenant may install and remove internal demountable
partitions (together with associated light switches and floorboards) without the Landlord’s consent provided that: 

  

	 	(a)	 the Tenant shall not (in the reasonable opinion of the Landlord): 

 

	 	(i)	 adversely affect the performance or life cycle of; or 

 

	 	(ii)	 damage or carry out any alterations to 

the Common Parts, the Conducting Media, Common Media or any other common service facilities plant equipment or systems serving or used in the
Building; or 
  

	 	(iii)	 in any way affect the external appearance of the Building; or 

 

	 	(iv)	 alter the Conducting Media or the Common Media; or 

 

	 	(v)	 adversely affect the EPC rating for the Building; or 

 

	 	(vi)	 in any way overload the Conducting Media or the Common Media; 

 

	 	(b)	 such alterations do not and are not likely to adversely affect the provision by the Landlord of the Services
within the Building; 

  

	 	(c)	 the Tenant complies with the obligations in paragraph 16.3; and 

 

	 	(d)	 details, specifications and drawings of any works undertaken pursuant to this paragraph 16.2 of this Schedule 3
are provided to the Landlord within one month of completion of the same. 

  
 22 

	16.3	 In making any alterations or addition to the Premises the Tenant must comply with any statute in relation to
environmentally responsible property management. 

  

	16.4	 If alterations or additions are made to notify the Landlord in writing as soon as reasonably practicable
following completion of the cost of the works for insurance purposes. 

  

	16.5	 If the Tenant carries out or engages others to carry out any work at the Premises to which the CDM Regulations
apply to comply with their requirements and enter into such covenants as the Landlord reasonably requires in relation to such regulations. 

  

	16.6	 To keep a copy of all necessary health and safety files available at the Premises for inspection on reasonable
notice not less than 48 hours by the Landlord and third parties. 

  

	16.7	 Where the Tenant is making alterations which are permitted by the Landlord which may cause a material reduction
in the energy efficiency of the Premises or which have a material effect on: 

  

	 	(a)	 any Environmental Rating System and/or any Environmental Rating; or 

 

	 	(b)	 the efficiency of the use of energy or water or waste efficiency within the Premises or the Building,

 to provide such information as the Landlord reasonably requires to enable the Landlord to ascertain the effects of such
alterations and to have due regard to and where reasonable implement any necessary reasonable requirements the Landlord makes to minimise any such material and adverse effect which the alterations may otherwise have. 

 

	16.8	 In making alterations which are permitted by the Landlord or by the provisions of paragraph 16 the Tenant
shall: 

  

	 	(a)	 do so in a sustainable manner; and 

 

	 	(b)	 treat and maintain all materials in accordance with their manufacturers’ instructions and recommendations.

  

	16.9	 The Tenant shall not carry out any alterations to the Premises that would have an adverse effect on the
Environmental Rating. 

  

	17	 AERIALS AND SIGNS 

 

	17.1	 Not to: 

  

	 	(a)	 place or affix any sign signboard fascia placard bill notice or other notification whatsoever to or upon:

  

	 	(i)	 the windows or inside the Premises so as to be visible from the outside; and 

 

	 	(ii)	 the entrance doors of the Premises except for the name of the Tenant and any permitted occupiers on the doors
in materials and a style and manner approved by the Landlord (such approval not to be unreasonably withheld or delayed); 

  

	 	(b)	 install Electronic Communications Apparatus or apparatus relating to Wireless Data Services except where
intended only to serve the lawful occupier’s business at the Premises and only then with the Landlord’s prior written consent (such consent not to be unreasonably withheld or delayed); 

 

	 	(c)	 operate any Electronic Communications Apparatus so as to interfere with the lawful use of Electronic
Communications Apparatus or the provision of Wireless Data Services elsewhere in the Building or on any adjoining premises; 

  
 23 

	 	(d)	 grant any rights pursuant to the Telecommunications Act 1984 without the prior consent of the Landlord (such
consent not to be unreasonably withheld or delayed). When making any application for such consent the Tenant shall give full details to the Landlord of any works to be carried out prior to or as a result of the grant of such rights,

 PROVIDED THAT if any equipment, sign, Electronic Communications Apparatus or Wireless Data Services signs shall
be placed or displayed in breach of the provisions of this paragraph and shall not be removed within 14 days of service on the Tenant of a written notice requesting their removal to permit the Landlord or its agents to enter the Premises and remove
such signs, Electronic Communications Apparatus or Wireless Data Services and pay to the Landlord within 14 days of written demand the proper and reasonable costs incurred in doing so. 

 

	17.2	 The Tenant shall not be granted any naming rights in respect of the Building or the Premises and the Tenant
shall use the postal address for the Building as notified to it by the Landlord. 

  

	18	 NOT TO STRAIN FLOORS AND
CEILINGS 

 Not to impose any strain on the floors and ceilings of the Premises beyond
that which they were designed to bear. 
  

	19	 USE 

 

	19.1	 Not to use the Premises or any part of them otherwise than as for the Permitted Use. 

 

	19.2	 Nothing in this Lease constitutes a warranty that the above use complies with the Planning Acts.

  

	20	 REGULATIONS 

 

	20.1	 To observe the Landlord’s Regulations. 

 

	20.2	 Not to store in the Premises anything which is specially flammable, explosive or combustible (save such items
required for the Tenant’s use of the Premises). 

  

	20.3	 Not to emit any smoke, fumes or smells from the Premises. 

 

	20.4	 Not to store anything outside the Premises other than the equipment permitted under paragraph 2 of Part 2 of
Schedule 1. 

  

	20.5	 Not to obstruct any area used in common with others. 

 

	20.6	 Not to do anything that blocks the Conducting Media or makes them function less efficiently including any
blockage or damage to any drains, pipes or sewers by virtue of any waste, grease or refuse deposited by the Tenant. 

  

	20.7	 Not to cook food on the Premises. 

 

	20.8	 In case of default the Landlord may enter (if the Tenant fails to rectify any breach within a reasonable
period) and do anything reasonably necessary to comply with the requirements of this paragraph and to pay to the Landlord on demand all expenses so incurred with Higher Rate Interest from the date of expenditure. 

 

	21	 PROHIBITED USES 

Not to: 
  

	 	(a)	 use the Premises in connection with the sale of the timeshares. 

  
 24 

	 	(b)	 use the Premises (or the Roof Garden Terrace, the showers and changing facilities in the Building or any of the
Common Parts) for any illegal purpose or cause any legal nuisance or damage to the Landlord or the occupiers of the Building or to the owners, occupiers or tenants of any adjoining or neighbouring premises. 

 

	22	 NOT TO PERMIT ENCROACHMENTS

  

	22.1	 Not to: 

  

	 	(a)	 stop up darken or obstruct any windows or light belonging to the Premises; or 

 

	 	(b)	 permit any encroachment or easement to be made or acquired which causes or might cause damage to the Landlord
or any of its tenants. 

  

	22.2	 If any encroachment or easement is or is attempted to be made or acquired the Tenant will give notice to the
Landlord as soon as it becomes aware and at the Landlord’s cost do whatever is reasonably required to prevent such encroachment or acquisition. 

  

	23	 ALIENATION  

 

	23.1	 Restrictions on alienation 

Not to: 
  

	 	(a)	 part with or share possession or occupation of the whole or any part or parts of the Premises or charge or
mortgage the whole or any part or parts of the Premises save in accordance with the provisions of this paragraph 23; or 

  

	 	(b)	 grant to any third parties any rights over the Premises except by way of an assignment, underlease or charge of
the whole of the Premises in accordance with the provisions of this paragraph 23. 

  

	23.2	 Consent of the Landlord 

Neither the Tenant nor any person deriving title under the Tenant shall assign or underlet the whole of the Premises without the
Landlord’s consent (such consent not to be unreasonably withheld or delayed). 
  

	23.3	 Assignments 

  

	 	(a)	 Not to assign any part of the Premises (as distinct from the whole). 

 

	 	(b)	 If requested for consent to an assignment of whole the Landlord will be entitled (for the purposes of section
19(1A) of the Landlord and Tenant Act 1927) to impose (in addition to any other condition or conditions the incorporation of which would be reasonable) all or any of the matters set out in paragraph 23.3(c) as a condition of its consent.

  

	 	(c)	 The Landlord shall require: 

 

	 	(i)	 the execution by the Tenant and delivery to the Landlord prior to the assignment in question of an Authorised
Guarantee Agreement; 

  

	 	(ii)	 the Guarantor (not here including a former tenant) to enter into contracts with the Landlord guaranteeing that
the Tenant will comply with its obligations comprised in the Authorised Guarantee Agreement; 

  

	 	(iii)	 the payment to the Landlord of all Rent and other sums which have fallen due under the lease prior to the date
of the assignment provided that such sums have been demanded in writing 21 days prior to the date of the application for such assignment and such sums remain undisputed; 

  
 25 

	 	(iv)	 that any intended assignee procures a surety or sureties for such assignee who must be reasonably acceptable to
the Landlord and covenants with the Landlord as stated in Schedule 8 Parts 1 and 2; and 

  

	 	(v)	 the intended assignee deposits with the Landlord a security for the Tenant’s obligations under this Lease
a rent deposit equal to 6 months’ rent and on terms of a deed in such form as the Landlord may reasonably require. 

  

	 	(d)	 The Tenant may assign the whole of the Premises to a Group Company with the Landlord’s consent (such
consent not to be unreasonably withheld or delayed) and subject otherwise to complying with the provisions of this Clause 23 save that the Landlord may refuse consent to any assignment where the Tenant wishes to assign this Lease to:

  

	 	(i)	 any company that, at the date of assignment is a Group Company of the Tenant: 

 

	 	(1)	 and in the opinion of the Landlord, the financial strength of the proposed assignee when assessed together with
any proposed guarantor or other security offered is not at least equivalent to the financial strength of the Tenant and its guarantor (if any); or 

  

	 	(2)	 the proposed guarantor for the Group Company is the guarantor for the Tenant; 

 

	 	(ii)	 an existing guarantor of the Lease as at the date of application for consent to assign the Lease.

  

	 	(e)	 Underletting 

  

	 	(i)	 Not to underlet any part of the Premises (as distinct from the whole or a Permitted Part).

  

	 	(ii)	 Not to underlet the whole of the Premises or a Permitted Part of the Premises without the Landlord’s
consent (such consent not to be unreasonably withheld or delayed) except where the following conditions are fulfilled: 

  

	 	(1)	 any underlease whether mediate or immediate must: 

 

	 	a.	 be at not less than an open market rent at the time of grant without fine or premium; 

 

	 	b.	 contain a covenant by the undertenant not to assign underlet part with possession of or share possession or
occupation of the whole or any part or parts of the subdemised premises or mortgage or charge the whole or any part or parts of the subdemised premises except by way of sharing occupation with a Group Company (as permitted under this Lease) or an
assignment or charge of the whole of the subdemised premises; 

  

	 	c.	 contain a covenant by the undertenant not to assign or charge the whole or a Permitted Part of the subdemised
premises without the consent of the Landlord such consent not to be unreasonably withheld or delayed; 

  

	 	d.	 except as to the payment of the rent first reserved under this Lease otherwise be on similar terms (mutatis
mutandis) to the terms of this Lease save that where the underlease contains a valid agreement under section 38A of the 1954 Act to exclude the provisions of sections 24 to 28 of that Act such underlease need only otherwise be on similar terms as to
user and alterations; and 

  
 26 

	 	e.	 be in a reasonable form approved by the Landlord prior to its grant such approval not to be unreasonably
withheld or delayed. 

  

	 	(2)	 any underlease must contain a valid agreement under section 38A of the 1954 Act to exclude the provisions of
sections 24 to 28 of that Act in relation to that underlease; and 

  

	 	(3)	 before the grant of any underlease the Tenant must procure a covenant from the undertenant with the Landlord to
pay the rents and other sums reserved by the underlease (or if the underlease of a Permitted Part of the Premises, a fair proportion of them) and observe and perform the undertenant’s covenants and the conditions in the proposed underlease and
not to do or omit any act or thing which would or might cause the Tenant to be in breach of the Tenant’s covenants in this Lease; and 

  

	 	(4)	 before the grant of any underlease but subject to paragraph 16 of this Schedule 3, the Tenant must carry out
all works to the Premises that are required by statute for the Tenant lawfully to grant an underlease. 

  

	 	(iii)	 The Tenant shall: 

  

	 	(1)	 not consent to or participate in any variation to any underlease without the Landlord’s consent such
consent not to be unreasonably withheld or delayed; 

  

	 	(2)	 enforce all the covenants and obligations of the undertenant under any underlease. 

 

	 	(f)	 Sharing with Group Companies 

Notwithstanding the above, the Tenant may share occupation of the whole or any part or parts of the Premises with any Group Company of the
Tenant on condition that: 
  

	 	(i)	 the interest so created is no more than a tenancy at will; and 

 

	 	(ii)	 the right of any company to occupy the Premises or any part or parts of it immediately ends upon such company
ceasing to be a Group Company. 

  

	 	(g)	 To supply information 

Within 14 days of demand to give the Landlord particulars of any derivative interest in the Premises, including the rents payable and such
other information and copy documents as the Landlord reasonably requires at the Tenant’s cost if this paragraph is not invoked more frequently than once a year but otherwise the Landlord is to bear the Tenant’s reasonable costs of
compliance. 
  

	 	(h)	 Charging 

The Tenant may charge the whole of the Premises to a genuine lending institution with the Landlord’s consent (not to be unreasonably
withheld or delayed) provided that no consent shall be required in respect of a floating charge over the Tenant’s business. 

  
 27 

	24	 REGISTRATION OF DEALINGS

 Within one month after any assignment or underletting or the assignment of an underlease or after any devolution by will
or otherwise or mortgage or charge affecting the Premises to produce to the solicitor for the time being of the Landlord a certified copy of the deed or instrument effecting the same and pay his reasonable fee for registration being no more than
£50.00 plus VAT. 
  

	25	 COSTS 

 

	25.1	 To pay all the Landlord’s reasonable and proper costs fees and/or expenses incurred in connection with any
request for a licence or consent pursuant to the terms of this Lease including where the request is withdrawn or the licence or consent is lawfully withheld except to the extent that consent is unlawfully refused or delayed. 

 

	25.2	 To pay to the Landlord within 14 days of written demand all costs, fees and expenses incurred by the Landlord
in carrying out works to the Premises to improve their Environmental Rating where the Tenant has consented to the Landlord doing so. 

  

	26	 ENERGY PERFORMANCE CERTIFICATES

  

	26.1	 To comply with all statutory obligations from time to time: 

 

	 	(a)	 requiring the Tenant to provide an EPC to any third party or to the Landlord; and/or 

 

	 	(b)	 which relate to any Environmental Rating System. 

 

	26.2	 If and to the extent that the Existing EPC remains valid (for the purposes of Regulation 9(2) of the Energy
Performance of Buildings (England and Wales) Regulations 2012) to provide the Existing EPC in satisfaction of its obligations pursuant to paragraph 26.1. 

  

	26.3	 If and to the extent that the Existing EPC is no longer valid (whether or not as the result of the
Tenant’s alterations) to notify the Landlord and to obtain any EPC required to be provided from an energy assessor nominated by the Landlord (acting reasonably). 

 

	26.4	 To provide the Landlord with copies of all EPCs obtained by the Tenant whether or not obtained in accordance
with this paragraph 26. 

  

	26.5	 As soon as reasonably practicable following written demand to provide the Landlord with any information in
relation to energy efficiency matters and EPCs as the Landlord reasonably requires at the Tenant’s cost. 

  

	27	 INDEMNITY 

To indemnify the Landlord against all actions proceedings claims demands losses costs expenses damages and liability (including any liability
for any injury to any person or damage to any land or other property) and any court or tribunal orders or awards arising from the breach non-observance or
non-performance by the Tenant of its covenants and the conditions in this Lease (including, for the avoidance of doubt, any action, proceeding, claim, cost, expense, damage or liability relating to the
Tenant’s use of the Roof Garden Terrace) and/or by any act default or negligence of the Tenant or any person deriving title under the Tenant or their respective agents employees or licensees. 

 

	28	 ENCUMBRANCES 

To perform and observe the Encumbrances (by way of indemnity only) so far as they relate to the Premises. 

 

	29	 INSURANCE AND SERVICES

 To observe and perform the covenants in Schedules 6 and 7. 

  
 28 

	30	 GUARANTORS  

If any Guarantor suffers an Insolvency Event, or in the case of an individual, dies, the Tenant shall as soon as reasonably practicable procure
that a replacement guarantor reasonably acceptable to the Landlord enters into a guarantee with the Landlord on the same terms as that Guarantor. 
  

	31	 DEFECTIVE PREMISES 

In respect of any defects in the Premises which might give rise to a duty or liability on the part of the Landlord under the Defective Premises
Act 1972, any other statutory provision or at common law, the Tenant shall: 
  

	 	(a)	 give as soon as reasonably practicable notice in writing to the Landlord of the defects as soon as it becomes
aware of them; 

  

	 	(b)	 display on the Premises any notice which the Landlord may reasonably require; and 

 

	 	(c)	 take any other action at the Landlord’s cost which the Landlord may properly and reasonably require to
discharge any such duty or liability. 

  

	32	 ENVIRONMENTAL OBLIGATION 

 

	32.1	 The Tenant shall not discharge or permit to be discharged any Hazardous Materials, oil, grease or any other
deleterious materials into any Conducting Media serving the Premises or the Building or any adjoining or neighbouring premises. 

  

	32.2	 The Tenant shall not do or omit to do anything that does or may cause any Hazardous Materials to escape, leak
or be spilled or deposited on the Premises or the Building or to migrate to or from the Premises or the Building. 

  
 29 

 SCHEDULE 4 

Covenants by the Landlord 
  

	1	 QUIET ENJOYMENT 

Subject to the Tenant paying the Rent reserved by and observing and performing the Tenant’s covenants in this Lease the Tenant may quietly
enjoy the Premises during the Term without any lawful interruption or disturbance from or by the Landlord or any person or persons lawfully or equitably claiming under or in trust for it. 

 

	2	 INSURANCE AND SERVICES

 To observe and perform its obligations in Schedules 6 and 7. 

 

	3	 PURSUIT OF THIRD PARTIES

 The Landlord shall use reasonable endeavours to enforce the rights and remedies which it has against third parties
(including but not limited to the developer, the contractor, any sub-contractors and the professional team involved in the refurbishment of the Premises under the building contract dated 18 December 2014
and made between British Overseas Bank Nominees Limited and WGTC Nominees Limited in their capacity as nominees for and on behalf of National Westminster Bank plc as depositary and not otherwise of the M&G Property Portfolio (1) and Chorus
Group Holdings Limited (2) (the “Building Contract”)) in relation to any defect in the Premises which is due to any breach by such third party of its obligations and/or warranties to the Landlord. Should the Landlord fail to enforce
such rights and remedies which it has against third parties within a reasonable time the Tenant may remedy or procure the remedying of such defect itself and the Landlord shall be responsible for the reasonable costs incurred by the Tenant in doing
so. The obligations on the Landlord under this paragraph 3 of this Schedule 4 shall expire on the date of issue of the notice of completion of making good defects under the Building Contract. 

  
 30 

 SCHEDULE 5 

Provisos Agreements And Declaration 
  

	1	 FORFEITURE 

Without limiting any other provisions in this Lease the Landlord may at any time re-enter the Premises
and immediately on so doing this Lease will terminate absolutely but without prejudice to any rights of either party against the other in respect of any breach of any of the obligations in this Lease: 

 

	 	(a)	 if the Rent reserved by this Lease are unpaid for 21 days after becoming payable (whether, in the case of the
rent first reserved under this Lease formally demanded or not); or 

  

	 	(b)	 if the Tenant is in breach of its obligations in this Lease; or 

 

	 	(c)	 the taking of any step in connection with any voluntary arrangement or other compromise scheme or arrangements
for the benefit of any creditors of the Tenant or the Guarantor; or 

  

	 	(d)	 the making of an administration order in relation to the Tenant or the Guarantor; or 

 

	 	(e)	 if the Tenant or the Guarantor: 

 

	 	(i)	 (being a company or if in partnership) enters into liquidation whether compulsory or voluntary (other than for
the purpose of reconstruction or amalgamation not involving a realisation of assets) or has a winding-up order made against it by the court or has a receiver appointed over all or any part of its assets or an
administrator appointed or an administrative receiver; or 

  

	 	(ii)	 (being one or more individuals whether or not in partnership together) has a bankruptcy order made against him;
or 

  

	 	(iii)	 becomes insolvent or unable to pay its or his debts or enters into any composition with its or his creditors or
enters into a voluntary arrangement (within the meaning of sections 1 123 or 253 of the Insolvency Act 1986 or the Insolvent Partnerships Order 1994); or 

  

	 	(iv)	 has distress, sequestration, execution or any modem equivalent of these remedies levied on the Tenant’s
goods including any action taken for the recovery of rent arrears from the Tenant under Commercial Rent Arrears Recovery; or 

  

	 	(v)	 is struck off from the register or the relevant company ceases to exist; 

 

	 	(f)	 any event analogous to any of the above events occurs in any jurisdiction other than England and Wales.

  

	2	 TENANT’S
GOODS 

  

	2.1	 The Landlord is deemed to have been irrevocably appointed the Tenant’s agent to store and/or dispose of
all property belonging to the Tenant or to any third party not removed from the Premises by the Tenant in accordance with its covenants in Schedule 3 paragraph 8 and/or Schedule 6 paragraph 1.2(f). 

 

	2.2	 The Tenant must: 

  

	 	(a)	 indemnify the Landlord against all costs and expenses and other liability incurred in respect of storage and/or
disposal of such property and claims to such property by any third party; and 

  
 31 

	 	(b)	 pay on demand Higher Rate Interest on such costs and expenses from the date of expenditure.

  

	3	 LANDLORD’S RIGHT
TO DEVELOP 

  

	3.1	 The Tenant has no right which might restrict or prejudicially affect the future rebuilding alteration or
development of any adjoining premises belonging to the Landlord (whether forming part of the Building or not) or to compensation for damage or disturbance caused by or suffered through any such rebuilding alteration or development.

  

	3.2	 Section 62 of the Law of Property Act 1925 will not apply to this Lease. 

 

	3.3	 The flow of light to the Premises is and will be enjoyed with the Landlord’s consent in accordance with
section 3 of the Prescription Act 1832. Neither the enjoyment of that light and air nor anything in this Lease will prevent the exercise of any of the rights the Landlord has reserved out of this Lease. The Tenant must permit the exercise of these
reserved rights without interference or objection. 

  

	3.4	 The Tenant has no rights to enforce the benefit of any covenants, rights or conditions to which any other
property within the Building or any adjoining premises is or are subject. 

  

	4	 EXCLUSION OF STATUTORY
COMPENSATION 

 The Tenant will not be entitled on quitting the Premises to any
compensation under section 37 of the 1954 Act. 
  

	5	 EXCLUSION OF LIABILITY

 The Landlord shall not be liable to observe or perform any obligation on its part contained in this Lease (and the
Tenant hereby releases the Landlord from time to time from all liability in respect of any breach or non-observance of any such obligation) after it has ceased to be entitled to the immediate reversion
expectant upon the Term. 
  

	6	 DISCLAIMER OF LIABILITY FOR USE
OF COMMON BICYCLE SPACES, CHANGING AREAS AND ROOF GARDEN TERRACE

 The Landlord will not be liable for loss or damage to any property or damage to any person or for the prevention of
ingress to or egress from the basement (or any other part) of the Building or the Roof Garden Terrace caused by unauthorised use of the basement (or any other part of the Building) or Roof Garden Terrace. 

 

	7	 ACCEPTANCE OF RENT IS NO
WAIVER 

 Notwithstanding the demand for or acceptance of the Rent or any of the Rent by
or on behalf of the Landlord with knowledge of a breach of any of the Tenant’s covenants the Landlord’s rights to forfeit this Lease on the ground of such breach shall remain in force and the Tenant shall not be entitled in any proceedings
for forfeiture to rely on any such demand or acceptance as a defence. 
  

	8	 CONCESSIONS FOR DUE DATES FOR
PAYMENT 

 If the Landlord allows the Tenant to defer payment of any money due under this
Lease then for all purposes in connection with this Lease (and in particular in relation to section 17 of the Landlord and Tenant (Covenants) Act 1995 that money shall be deemed to fall due on the later date allowed by the Landlord instead of the
earlier date when it originally fell due. 

  
 32 

	9	 NOTICES 

Sections 196(1) and (4) of the Law of Property Act 1925 (as amended by the Recorded Delivery Service Act 1962) apply to all notices
notification and certificates required to be given or served under this Lease. 
  

	10	 DATA PROTECTION ACT 1998  

For the purposes of the Data Protection Act 1998 or otherwise the Tenant and the Guarantor (if any) acknowledge that information relating to
this tenancy will be held on computer and other filing systems by the Landlord or the Landlord’s managing agent (if any) for the purposes of general administration and/or enforcement of this Lease and agree to such information being used for
such purposes and being disclosed to third parties so far only as is necessary in connection with the management of the Landlord’s interest in the insurance and/or maintenance of the Premises checking the credit worthiness of the Tenant and the
Guarantor or the disposal or subletting of the Premises or the Building of which the Premises form part or is necessary to conform with recognised industry practice in the management and letting of property. 

 

	11	 VAT 

All sums payable under this Lease subject to VAT are tax exclusive sums. 

 

	12	 EXCLUSION OF SECTIONS
24-28 OF THE 1954 ACT 

  

	12.1	 The Landlord and the Tenant agree to exclude the provisions of sections
24-28 (inclusive) of the 1954 Act in relation to the tenancy to be created by this Lease. 

  

	12.2	 The Tenant confirms that before it entered into the tenancy created by this Lease: 

 

	 	(a)	 the Landlord served on the Tenant a notice dated 12 January 2018 in relation to the tenancy created by
this Lease (the “Notice”) in a form complying with the requirements of Schedule 1 to the Order; and 

  

	 	(b)	 the Tenant, or a person duly authorised by the Tenant, in relation to the Notice made a statutory declaration
(the “Declaration”) dated 17 January 2018 in a form complying with the requirements of Schedule 2 to the Order. 

  

	12.3	 The Tenant confirms that, where the Declaration was made by a person other than the Tenant, the declarant was
duly authorised by the Tenant to make the Declaration on the Tenant’s behalf. 

  

	12.4	 The Landlord and the Tenant confirm that there is no agreement for lease to which this Lease gives effect.

  

	13	 ENERGY PERFORMANCE CERTIFICATE

 The Tenant confirms that it has before the date of this Lease been provided with a copy of the Existing EPC. 

 

	14	 CO-OPERATION

 Without prejudice to any common law duty of co-operation the Landlord and the
Tenant shall cooperate with each other by either party providing to the other whatever information each party reasonably requests relating to the energy and water consumption and waste management for or at the Premises. 

 

	15	 DISPUTE RESOLUTION PROCEDURE

  

	15.1	 All Disputes shall be submitted to the Dispute Resolution Procedure. 

  
 33 

	15.2	 The Expert shall be nominated by the parties jointly or in the absence of an agreed nomination shall be
nominated by the president or other acting senior officer for the time being of the Royal Institution of Chartered Surveyors on the application of either party. 

 

	15.3	 If the Expert refuses to act becomes incapable of acting or dies either party may require the appointment of a
replacement Expert in the same manner as applied to the original appointment. 

  

	15.4	 The Expert must act as an expert and not as an arbitrator and will be required to: 

 

	 	(a)	 give notice to both parties allowing them to submit to him within such reasonable time as he stipulates
representations on the relevant issue accompanied (if either of them wishes) by a statement of reasons and professional valuations or reports of which copies are supplied to the other party; and 

 

	 	(b)	 permit each of the parties to make a submission in respect of the other’s reasons valuation and reports
(if any) provided under paragraph 15.4(a) of this Schedule 5; but 

  

	 	(c)	 neither party may without the consent of the other disclose to the Expert correspondence or other evidence to
which the privilege of non-production (“without prejudice”) properly attaches, 

but the Expert will not be bound by any such submission or representations and he may make his determination as he thinks fit. 

 

	15.5	 The determination of the Expert will be final and binding on the parties except in the case of manifest error.

  

	15.6	 The fees and expenses of the Expert including the cost of his nomination must be borne either as to the whole
or in proportions as the Expert determines (but in the absence of determination they must be borne equally) and each of the parties must bear its own costs with respect to the determination of the Dispute by the Expert. 

 

	15.7	 Either party may pay such costs of the Dispute Resolution Procedure required to be paid by the other as have
been determined by the Expert if they remain unpaid for more than 21 days after they have become due and then recover these and any incidental expenses incurred from the defaulting party on demand. 

 

	16	 ROOF SPACE 

The Landlord (acting reasonably) shall manage the allocation of the roof space over which the Tenant is granted rights under Part 2 of Schedule
1 taking into account its own requirements and the requirements of other tenants and occupiers of the Building. 
  

	17	 GOVERNING LAW AND
JURISDICTION 

  

	17.1	 This Lease shall be governed by and interpreted in accordance with English law. 

 

	17.2	 The courts of England have exclusive jurisdiction in relation to any disputes between the parties arising out
of or related to this Lease. 

  
 34 

 SCHEDULE 6 

Insurance Provisions 
  

	1	 TENANT’S
COVENANTS 

 Insurance rent 

 

	1.1	 The Tenant covenants with the Landlord to pay a sum equal to: 

 

	 	(a)	 the proportion the Landlord reasonably deems appropriate having regard to: 

 

	 	(i)	 any alterations or additions to the Building or any change of use of any part of it; or 

 

	 	(ii)	 information supplied to it by the Tenant pursuant to Schedule 3 paragraph 16.4, 

of the cost the Landlord incurs in insuring against employer’s liability and public liability risks in respect of the Building and
insuring the Building against the Insured Risks including: 
  

	 	(iii)	 the preparation and settlement of any insurance claim; 

 

	 	(iv)	 the cost of complying with any requirements of the insurer; and 

 

	 	(v)	 valuation of the whole or any part of the Building (but not more than once in every three year period); and

  

	 	(b)	 the whole of the cost as the Landlord incurs in insuring against four years’ loss of the rent first
reserved by this Lease and Service Charge arising from damage to the Building by any Insured Risks. 

 The insurance cover
may include VAT and take due account of the effects of inflation and escalation of costs and the Landlord will be entitled to retain any commission paid to it. 

Tenant’s insurance obligations 
  

	1.2	 The Tenant covenants with the Landlord: 

 

	 	(a)	 not to do or omit in or upon the Premises anything which may: 

 

	 	(i)	 render the Landlord liable to pay in respect of the Premises and/or the Building more than the rate of premium
it might expect to pay in the open market to insure premises of a similar nature let on a similar basis against the Insured Risks; or 

  

	 	(ii)	 restrict or make void or voidable any policy for such insurance; 

 

	 	(b)	 to pay to the Landlord within 14 days of written demand any increase in the rate of premium and all expenses
incurred in connection with any renewal of such policy rendered necessary by a breach of paragraph 1.2(a) of this Schedule 6; 

  

	 	(c)	 if: 

  

	 	(i)	 any part of the Premises or of the Building is destroyed or damaged by any Insured Risk; and

  

	 	(ii)	 the insurance monies are wholly or partially irrecoverable by reason solely or in part of any act or default of
the Tenant or any person deriving title under the Tenant or any of their respective agents employees or licensees; the Tenant must pay to the Landlord within 14 days of written demand a sum equal to the whole or a fair proportion (as the case may
require) of the irrecoverable insurance monies; 

  
 35 

	 	(d)	 not to insure the Premises against any of the Insured Risks; 

 

	 	(e)	 upon becoming aware of the same to notify the Landlord promptly in writing of damage to the Premises by any
Insured Risk; 

  

	 	(f)	 in the event of damage to the Premises by any Insured Risk or Uninsured Risk rendering them unfit for
occupation or use (if so reasonably required by the Landlord) at the cost of the Tenant to remove from the Premises all property belonging to the Tenant or to any third party promptly following such damage or to indemnify the Landlord against the
cost of doing so; 

  

	 	(g)	 in the event of damage to the Premises or the Building by any of the Insured Risks or Uninsured Risks to pay to
the Landlord on demand a sum equal to the whole or proper proportion of any uninsured excess to which the insurance policy may be subject; and 

  

	 	(h)	 not to leave the Premises continuously unoccupied for more than 21 days without notifying the Landlord and
providing such caretaking or security arrangements as the Landlord’s insurers may require and/or the Landlord may reasonably require. 

  

	2	 LANDLORD’S
COVENANTS  

 To insure 

 

	 	(a)	 To keep insured the Building against loss or damage by the Insured Risks with an insurer of repute subject to
such exclusions conditions limitations and uninsured excesses as the insurer may reasonably apply and at reasonable commercial rates generally available in the London insurance market for a building of this type size and location in a sum equal to:

  

	 	(i)	 the full cost of reinstatement (taking into account any appropriate notification from the Tenant under Schedule
3 paragraph 16.4) including professional fees and the cost of removing all debris (excluding contents and stock debris) from the site of the Building, compliance with Local Authority requirements and other incidental expenses; and

  

	 	(ii)	 four years’ loss of the rent first reserved by this Lease and Service Charge. 

 

	 	(b)	 The Landlord must in relation to the insurance provide to the Tenant on written request (but no more than once
in any 12 month period) a summary of the main terms of the Landlord’s insurance cover. 

 To reinstate 

 

	 	(c)         (i)	 Subject to any necessary labour and materials being and remaining available and to obtaining all necessary
permissions and consents necessary to enable the Landlord to reinstate the Building or the Premises (as appropriate) or the access thereto (the “Permissions”) which the Landlord must use reasonable endeavours to obtain as soon as
possible to cause the insurance moneys received (except sums received for loss of rent first reserved and Service Charge) to be applied in clearing the site and reinstating the Building or a fair and reasonable proportion of those insurance moneys
in relation to the Premises (as the case may be). 

  

	 	(ii)	 Any reference to reinstating the Building or the Premises in paragraphs 2, 3, 4 and 5 of this Schedule 6 means
that the Building or Premises are reinstated substantially as they were before the relevant damage or destruction (but not so as to provide accommodation identical in layout if it would not be sensibly practicable to do so). 

  
 36 

	 	(iii)	 The Landlord’s obligation to reinstate under this paragraph shall cease if the insurance shall be rendered
void by reason of any act or default of the Tenant or any person deriving title under the Tenant or their respective agents servants licensees or contractors save to the extent that the Tenant has complied with its obligations in paragraph 1.2(c) of
this Schedule 6. 

  

	 	(iv)	 The Landlord need not reinstate while prevented by any of the following:— 

 

	 	(1)	 failure by the Landlord to obtain the Permissions despite using all reasonable endeavours;

  

	 	(2)	 the grant of any of the Permissions subject to a condition with which it would be unreasonable to expect the
Landlord to comply or the planning or highway authority’s insistence that as a pre-condition to obtaining any of the Permissions the Landlord must enter into an agreement with the planning or highway
authority that would contain a term with which it would be unreasonable to expect the Landlord to comply; 

  

	 	(3)	 some defect in the site upon which the reinstatement is to take place so that it could not be undertaken or
undertaken only at excessive cost; 

  

	 	(4)	 war act of God government action strike lock-out or any other similar
circumstances beyond the control of the Landlord, 

 AND in such circumstances any insurance money (save any sums
attributable to tenant’s fixtures) will belong to the Landlord. 
  

	3	 SUSPENSION OF RENT 

 

	3.1	 If the Building or any part of it is so destroyed or damaged by an Insured Risk as to make the Premises or any
part of them unfit for occupation access or use or inaccessible the yearly rent and the Service Charge or a fair proportion according to the nature and extent of the damage sustained will not be payable until the earlier of the date on which:

  

	 	(a)	 either the Building or the Premises (as appropriate) have been reinstated so as to make the Premises fit for
occupation or use (excluding fitting out and replacement of contents) and accessible; or 

  

	 	(b)	 the expiry of four years from the date of such damage, 

(but this paragraph 3.1 of this Schedule 6 shall not apply to the extent that the Landlord’s insurance has been vitiated or payment of any
policy moneys refused owing to the act or default of the Tenant or any person deriving title under the Tenant or their respective agents employees licensees or contractors and/or the Tenant has not complied with its obligations in paragraph 1.2(c)
of this Schedule 6). 
  

	3.2	 If paragraph 3.1 of this Schedule 6 applies: 

 

	 	(a)	 the Landlord must refund to the Tenant a due proportion of the yearly rent and the Service Charge paid in
advance; and 

  

	 	(b)	 on the date on which the Building is reinstated so as to make the Premises fit for occupation, use and
accessible the Tenant must pay to the Landlord within 14 days of written demand the yearly rent for the period starting on the date they again become payable to but excluding the next quarter day. 

  
 37 

	4	 OPTIONS TO TERMINATE 

 

	4.1	 If the Building or a substantial part of it (whether including the Premises or not) is destroyed or damaged by
an Insured Risk this Lease may be terminated by the Landlord giving to the Tenant (within 12 months after such destruction or damage) not less than six months’ notice. 

 

	4.2	 If for any reason outside the Landlord’s control it proves impossible to commence rebuilding work within
four years of the date of such damage or destruction the Landlord may by notice to the Tenant terminate this Lease and upon receipt by the Tenant of such notice the Term shall end. 

 

	4.3	 If the Landlord has not completed the rebuilding work on site within three years and six months of the date of
such damage or destruction so as to make the Premises fit for occupation or use (excluding fitting out and replacement of contents) and accessible then this Lease may be terminated by the Tenant giving to the Landlord six months’ notice and
upon the expiry of such notice the Term shall end. 

  

	4.4	 If this Lease is terminated pursuant to paragraph 4.1, 4.2 or 4.3 the Landlord will be entitled to retain the
whole of the insurance moneys for its absolute use and benefit and termination of the Term shall be without prejudice to any claim by any party in respect of any antecedent breach of any obligations under this Lease. 

 

	5	 UNINSURED RISKS 

 

	5.1	 For the purpose of this paragraph 5 of this Schedule: 

 

	 	(a)	 These provisions shall apply from the date on which any Insured Risk becomes an Uninsured Risk but only in
relation to the Uninsured Risk. 

  

	 	(b)	 References to an Insured Risk becoming an Uninsured Risk shall without limitation include the application by
insurers of an exclusion condition or limitation to an Insured Risk to the extent to which such risk thereby is or becomes an Uninsured Risk. 

  

	 	(c)	 The Landlord shall notify the Tenant in writing as soon as reasonably practicable after an Insured Risk becomes
an Uninsured Risk. 

  

	5.2	 If during the Term the Building or the Premises or a substantial part of them shall be damaged or destroyed by
an Uninsured Risk so as to make the Premises or a substantial part of them unfit for occupation access or use or inaccessible: 

  

	 	(a)	 the yearly rent and the Service Charge or a fair proportion according to the nature and extent of the damage
sustained will not be payable from the date of damage or destruction until the earlier of the date on which 

  

	 	(i)	 the Premises shall again be fit for occupation or use (excluding fitting out and replacement of contents) and
made accessible; or 

  

	 	(ii)	 this Lease shall be terminated in accordance with paragraph 5.2(b) and paragraph 5.5 of this Schedule 6;

  

	 	(b)	 the Landlord may within one year of the date of such damage or destruction serve notice on the Tenant
confirming that it will reinstate the Building or the Premises or both of them as the case may be (a “Reinstatement Notice”) so that the Premises shall be fit for occupation or use and made accessible and if the Landlord fails to
serve a Reinstatement Notice within twelve months from the date of damage or destruction the Lease will automatically end on the date one year after the date of such damage or destruction. 

  
 38 

	5.3	 Paragraph 5.2 shall not apply if an Insured Risk shall have become an Uninsured Risk owing to the act or
default of the Tenant or any person deriving title under the Tenant or their respective agents, employees, licensees or contractors. 

  

	5.4	 If the Landlord serves a Reinstatement Notice it shall use reasonable endeavours (subject to any necessary
labour and materials being and remaining available and to obtaining all necessary permissions and consents necessary to enable the Landlord to reinstate the Building or the Premises (as appropriate) or the access thereto (the
“Permissions”) which the Landlord must use reasonable endeavours to obtain as soon as possible) to reinstate the Building and/or the Premises (as the case may be) and or access thereto as soon as reasonably practicable.

  

	5.5	 If the Landlord shall have served a Reinstatement Notice and such reinstatement has not been completed by the
date three years and six months from the date of the damage at any time after that date the Landlord or the Tenant may terminate this Lease by serving not less than six months’ notice on the other stating that it terminates this Lease and if by
the end of such notice the Building or the Premises or both of them as the case may be have been reinstated so that the Premises are fit for occupation and use and are accessible the notice shall be void and this Lease shall continue in full force
and effect. 

  

	5.6	 Service of a Reinstatement Notice shall not oblige the Landlord to reinstate any alterations or additions not
notified by the Tenant under Schedule 3 paragraph 16.4 to replace any Tenant’s fitting out works or property belonging to the Tenant or any third party. 

  
 39 

 SCHEDULE 7 

Service Charge Provisions 

Part 1 
  

	1	 TENANT’S LIABILITY
TO PAY SERVICE CHARGE 

  

	1.1	 The Tenant must pay to the Landlord the Service Charge. 

 

	1.2	 The Service Charge is such proportion of the Landlord’s Costs as the Landlord deems fair and attributable
to the Premises in any Service Charge Period (as defined in paragraph 2.4 of this Schedule 7 Part 1) beginning or ending during the Term but without affecting the general operation of the Landlord’s discretion: 

 

	 	(a)	 the proportion will be calculated primarily on a comparison of the Net Internal Area of the Premises with the
aggregate Net Internal Area of the Lettable Areas; but 

  

	 	(b)	 if the Landlord properly and reasonably considers that such comparison is inappropriate the Landlord may adopt
such other method of calculation as is fair and reasonable in the circumstances (including if appropriate the attribution of all such expenditure to the Premises). 

 

	1.3	 The Landlord’s Costs are the costs and expenses properly incurred by the Landlord of and incidental to the
provision of the Services in or with respect to any Service Charge Period beginning or ending during the Term. 

  

	1.4	 The Services are itemised in Parts 2 and 3 of this Schedule 7. 

 

	1.5	 The Landlord’s Costs the Service Charge and the provision of the Services will be calculated and dealt
with in accordance with this Schedule 7. 

  

	2	 ADVANCE PAYMENTS ON PRELIMINARY
BASIS 

  

	2.1	 The Service Charge will be paid by advance payments on each of the Rent Days and by additional payments
required under paragraphs 3 and 4 of this part of this Schedule 7. 

  

	2.2	 The amount of each advance payment will be equal to the last advance payment or otherwise be the amount the
Landlord determines as likely to be equal in the aggregate to the Service Charge for the relevant Service Charge Period. 

  

	2.3	 The Landlord will endeavour at least one month before the relevant Service Charge Period both to provide the
Tenant with an estimate of the likely service charge expenditure and to notify the Tenant of the amount of each advance payment for the relevant Service Charge Period. 

 

	2.4	 “Service Charge Period” means the period of 12 months from 1 August to 31 July in
each year (or such other appropriate period of more or less than 12 months as the Landlord reasonably determines). 

  

	2.5	 The Service Charge is deemed to accrue on a day to day basis in order to ascertain yearly rates and for the
purposes of apportionment in relation to periods of other than one year. 

  

	3	 LANDLORD’S COSTS
ACCOUNTS AND SERVICE CHARGE ADJUSTMENTS 

  

	3.1	 The Landlord will endeavour within four months after the end of each Service Charge Period to submit to the
Tenant a statement duly certified by the Landlord the Landlord’s Surveyor or the Landlord’s managing agents (or audited by the Landlord’s auditors if the Landlord so decides) giving a proper summary of the Landlord’s Costs and
the calculation of the Service Charge for the Service Charge Period just ended and the provisions in this Lease as to the giving of notices apply to the submission of the statement. 

  
 40 

	3.2	 If the Service Charge as certified is less than the total of the advance payments (or the grossed up equivalent
of such payments if made for any period of less than the Service Charge Period) then the Landlord will credit the balance against the next advance payment of Service Charge due from the Tenant or if the Term has ended will pay the balance due to the
Tenant within 28 days after submission of the service charge statement to the Tenant. 

  

	3.3	 If the Service Charge as certified is more than the total of the advance payments (or the grossed- up
equivalent of such payments if made for any period of less than the Service Charge Period) then the Tenant will pay any sum due to the Landlord by way of adjustment within 14 days after the receipt of the Service Charge statement.

  

	3.4	 The Landlord shall permit the Tenant to inspect the vouchers and receipts for items included in the summary at
paragraphs 3.1 of this Schedule 7 Part 1. 

  

	3.5	 The provisions of this paragraph 3 will continue to apply after the expiry or earlier determination of this
Lease in respect of any Service Charge Period then current. 

  

	3.6	 Within 28 days after submission of a certified statement under paragraph 3.1 (time being of the essence) the
Tenant may challenge it on the ground that it contains errors or is otherwise incorrectly drawn by giving to the Landlord notice to that effect but only if it has first made payment of the full amount due from the Tenant as shown on the statement
and if so: 

  

	 	(a)	 both parties must use reasonable endeavours to resolve the relevant issue but if they cannot do so:

  

	 	(i)	 the Dispute shall be referred to the Dispute Resolution Procedure; 

 

	 	(ii)	 any adjustments to the statement required to be made in consequence of the determination of the Expert must be
made and any sum due to or payable by the Landlord must immediately (within 14 days of written demand in the case of any sum due to the Landlord) be paid or allowed as appropriate; and 

 

	 	(iii)	 Base Rate Interest must be paid or allowed in respect of the period during which the relevant amount has been
underpaid or overpaid, but if not the Tenant’s right of challenge to that certified statement shall lapse. 

  

	4	 EXCEPTIONAL EXPENDITURE 

 

	4.1	 If the Landlord is required to incur or actually incurs heavy or exceptional expenditure which forms part of
the Landlord’s Costs the Landlord will be entitled to recover from the Tenant the Service Charge in respect of the whole of that expenditure on the quarter day next following. 

 

	4.2	 If funds collected by advance payments are insufficient to meet an immediate liability (and there is no reserve
fund available to be applied to meet it) and the cause of the insufficiency is not vacancy of any Lettable Areas the Landlord may advance moneys (or borrow moneys for the purpose from reputable banks) at commercially competitive rates of interest
and interest payable on the advance or the borrowing will form part of the Landlord’s Costs. 

  

	4.3	 If the Landlord carries out major works of repair maintenance and decoration or replaces major items of plant
or machinery it may: 

  

	 	(a)	 apportion the relevant expenditure over more than one Service Charge Period and 

 

	 	(b)	 include in the Landlord’s Costs interest at a commercially competitive rate on the part of the expenditure
to be recovered in later Service Charge Periods. 

  
 41 

	5	 LANDLORD’S PROTECTION
PROVISIONS 

  

	5.1	 The Tenant may not object to the Landlord’s Costs or otherwise on any of the following grounds:

  

	 	(a)	 the inclusion in a subsequent Service Charge Period of any item of expenditure or liability omitted from the
Landlord’s Costs for any earlier Service Charge Period so long as the Landlord has acted in good faith; 

  

	 	(b)	 an item of Landlord’s Costs included at a proper cost might have been provided or performed at a lower
cost; 

  

	 	(c)	 disagreement with any estimate of future expenditure for which the Landlord requires to make provision so long
as the Landlord has acted reasonably and in good faith and in the absence of manifest error; 

  

	 	(d)	 the manner in which the Landlord exercises its discretion in providing Services so long as the Landlord acts in
good faith and in accordance with the principles of good estate management; 

  

	 	(e)	 the employment of a Group Company to carry out and provide on the Landlord’s behalf any of the Services;

  

	 	(f)	 the employment of managing agents to carrying out and provide on the Landlord’s behalf any of the
Services; or 

  

	 	(g)	 the benefit of a service provided by the Landlord will be enjoyed substantially at a time after the expiry of
the Lease if the service is provided by the Landlord in good faith and it is generally of benefit to the tenants and occupiers of the Building as a class. 

  

	5.2	 This Schedule does not impose on the Landlord any obligation to make good damage caused by an Insured Risk.

  

	6	 VACANT PARTS OF THE BUILDING
AND ACTIONS BY THE LANDLORD 

  

	6.1	 The Service Charge will not be increased or altered because any Lettable Areas are vacant or occupied by the
Landlord or any occupier of another part of the Building defaults in payment of his proportion of the Landlord’s Costs. 

  

	6.2	 Subject to paragraph 6.1 it is the intention that the Landlord should recover the whole of the Landlord’s
Costs from the Tenant and other occupiers of the Building. 

  

	6.3	 If the Landlord recovers moneys in exercise of its powers referred to in paragraph 2.2(a) of Part 3 of this
Schedule representing expenditure which has been or which would otherwise be included in the Landlord’s Costs the Landlord will set off or credit them against the Landlord’s Costs accordingly. 

 

	7	 MANAGEMENT CHARGES 

 

	7.1	 The Landlord will be entitled to include in the Landlord’s Costs: 

 

	 	(a)	 a fee for the provision of Services (including the fees for employing managing agents and/or a Group Company
for the carrying out and provision of Services but excluding any charge for rent collection); and 

  

	 	(b)	 any cost of the accountants, auditors or surveyors for auditing or certifying the Landlord’s Costs or
providing other similar services in connection with the Landlord’s Costs. 

  

	7.2	 In providing any of the Services the Landlord shall be entitled at its discretion to: 

 

	 	(a)	 employ agents contractors and such other persons as it may think fit; and 

  
 42 

	 	(b)	 delegate its duties and powers to them and their fees and expenses including any VAT payable shall form part of
the Landlord’s Costs. 

  

	8	 UNINSURED RISKS 

The Landlord shall only be entitled to include within the Service Charge any costs which the Landlord incurs in reinstating any damage or
destruction caused by an Uninsured Risk to the Premises if: 
  

	 	(a)	 the Insured Risk shall have become an Uninsured Risk owing to the act or default of the Tenant or any person
deriving title under the Tenant or their respective agents employees licensees or contractors; or 

  

	 	(b)	 such damage or destruction does not make the Building or the Premises or a substantial part of them unfit for
occupation or use or inaccessible. 

  

	9	 TENANT PROTECTION PROVISIONS

  

	9.1	 The following liabilities and expenses are to be excluded from the items comprising the Landlord’s Costs:

  

	 	(a)	 initial costs (including leasing of initial equipment) incurred in relation to the original design and
construction of the Building (or redevelopment thereof prior to the date of this Lease) and the original plant and equipment serving or used in the Building; 

  

	 	(b)	 costs attributable to the initial establishment of services to the Building that are reasonably to be
considered part of the original development or redevelopment costs of the Building prior to the date of this Lease; 

  

	 	(c)	 costs incurred in relation to the initial promotional launch of the Building; 

 

	 	(d)	 costs of administering applications for consent to assign sublet or alter by tenants or occupiers of the
Building; 

  

	 	(e)	 costs for which the Tenant or other tenants or occupiers of the Building are individually responsible under the
terms of their tenancy (or other arrangement by which they use or occupy the Building) and relate to matters they exclusively enjoy; 

  

	 	(f)	 costs arising from any damage or destruction to the Building caused by an Insured Risk; 

 

	 	(g)	 capital costs of the construction, redevelopment or extension of the Building; 

 

	 	(h)	 costs of upgrading, innovation or improvement resulting from any repair, maintenance, reinstatement, rebuilding
or replacement that do not benefit the Tenant, but this will not prevent the Landlord from including costs within the Landlord’s Costs where they arise: 

  

	 	(i)	 from advances in technology or quality or specification from that which was previously there;

  

	 	(ii)	 where replacement or renewal is reasonable and cost-effective and will reduce operating costs for the benefit
of the tenants of the Lettable Areas or improve the Environmental Rating of the Building; 

  

	 	(iii)	 from a requirement of the insurers or a requirement of any act of Parliament and any delegated law made under
it; 

  

	 	(i)	 costs of any unlet Lettable Area; 

 

	 	(j)	 costs incurred in respect of the collection of rents; 

  
 43 

	 	(k)	 costs incurred in dealing with any lettings or rent reviews at the Building; and 

 

	 	(l)	 costs due from another tenant of the Building that are not recovered. 

 

	10	 THE LANDLORD’S OBLIGATION TO
PROVIDE SERVICES 

  

	10.1	 Subject to the following provisions of this paragraph 10 the Landlord acting reasonably: 

 

	 	(a)	 will use reasonable endeavours to provide the Services itemised in Part 2 of this Schedule in an efficient
manner; and 

  

	 	(b)	 may provide the Services itemised in Part 3 of this Schedule. 

 

	10.2	 The Landlord will not be liable to the Tenant for failure to provide any Services: 

 

	 	(a)	 to the extent that the Landlord is prevented from doing so by Insured Risks, Uninsured Risks and other causes
beyond the Landlord’s reasonable control; 

  

	 	(b)	 unless the Landlord has had written notice of and a reasonable period in which to remedy the failure; or

  

	 	(c)	 for any consequential economic or financial loss or damage or loss to property (save to the extent the Landlord
has insured the loss) arising or resulting from or alleging to arise or result from any failure or alleged failure by the Landlord to perform the Services, 

provided that the Landlord shall use reasonable endeavours to restore any services as soon as reasonably practicable. 

 

	10.3	 The Landlord will not be liable to the Tenant for any loss damage or inconvenience which may be caused because
of: 

  

	 	(a)	 temporary interruption of Services during periods of inspection maintenance repair and renewal or during the
course of building works; 

  

	 	(b)	 the breakdown failure stoppage leaking bursting or defect of any Excluded Plant or of the Common Media or
neighbouring property; 

  

	 	(c)	 any act, omission or negligence of any contractor, attendant or person undertaking the Services;

  

	 	(d)	 any failure or delay in repair unless the Landlord has had notice of the same and reasonable time to
investigate the matter and arrange for repair, 

 provided that the Landlord shall use reasonable endeavours to restore any
services as soon as reasonably practicable and further provided that in any event, the Tenant will not be held liable to the Landlord for any loss or damage (including to the Premises) caused by any act, omission or negligence of any contractor,
attendant or person engaged by the Landlord to undertake the Services. 
  

	10.4	 The Landlord may vary extend alter or add (acting reasonably) to the Services in Part 3 of this Schedule if it
considers that the interests of the occupiers of the Building as a class will be better served the amenities in the Building improved and/or the management of the Building more efficiently conducted. 

 

	10.5	 The Landlord may not be required by the Tenant to provide the Services referred to in paragraphs 3 and 4 of
Part 2 of this Schedule 7 outside normal office hours. 

  

	10.6	 The Landlord will not be concerned in the administration and collection of or accounting for the Service Charge
on an assignment of this Lease and accordingly the Landlord: 

  

	 	(a)	 will not be required to make any apportionment relative to the assignment; and 

  
 44 

	 	(b)	 may deal exclusively with the Tenant in whom this Lease is for the time being vested (and for this purpose in
disregard of any assignment which has not been registered in accordance with Schedule 3 paragraph 24). 

  

	10.7	 Where the Landlord (acting reasonably and having regard to the principles of good estate management) considers
that it is prudent to pursue legal action against a third party having regard to the time and cost which this would be likely to involve when considered against the likelihood of recovery of damages or costs and the likely amount of damages or costs
which would in the event of recovery be recovered, it shall use reasonable endeavours to enforce any claim, and take any proceedings against, any contractor, consultant, engineer, surveyor or any other professional or third party employed or engaged
in connection with: 

  

	 	(a)	 the construction, refurbishment, and/or repair of the Common Parts; or 

 

	 	(b)	 the provision of the Services; or 

 

	 	(c)	 any service contract, warranty or guarantee relating to the Common Parts or the provision of the Services,

 and credit any net sums which it receives (including any sums received in respect of the Premises) to the Service Charge
account after having first deducted any proper costs and expenses incurred by or on behalf of the Landlord or other relevant party in pursuing such claim or proceedings to the extent not recovered as part of the service charge payable by tenants and
other occupiers of the Building provided that any such action shall only be taken where: 
  

	 	(i)	 the cost of remedying the relevant defect has not or will not be recovered by the Landlord under any policy of
insurance; 

  

	 	(ii)	 save where the Tenant has agreed to pay such costs, the costs of such enforcement or redress can properly be
recovered through the Service Charge regime for the Building; and 

  

	 	(iii)	 the Landlord shall have obtained the Landlord’s or other insurers’ consent to any such action where
the same is required under the relevant insurance policy. 

 Part 2 

Mandatory Services and heads of charge 
  

	1	 COMMON PARTS 

 

	1.1	 Cleaning lighting and maintenance of the Common Parts. 

 

	1.2	 Payment of any Outgoings in respect of the Common Parts. 

 

	1.3	 Keeping the Common Parts clear of all rubbish. 

 

	1.4	 Cleaning and clearing of Conducting Media. 

 

	1.5	 Cleaning of all windows which do not form part of any Lettable Area and the external faces of all windows which
although forming part of a Lettable Area give on to the Common Parts or form part of the exterior of the Building. 

  

	1.6	 Operating a staffed reception desk in the entrance lobby of the Building during the Reception Hours.

  
 45 

	2	 REPAIRS 

 

	2.1	 Repair decoration inspection maintenance renewal replacement resurfacing washing down cleaning and upkeep of
the Main Structure including the Excluded Plant (without prejudice to the Tenant’s responsibility for maintaining doors and windows) and the Common Parts, the Conducting Media, Common Media and other common service facilities and of plant
equipment and tools and utensils serving or used in the Building. 

  

	2.2	 Cleaning lighting repairing renewing replacing decorating maintaining and rebuilding any fences party walls
party structures entrance ways stairs and passages and service areas and Conducting Media and any other items which are or may be used or enjoyed in common with neighbouring properties (whether the relevant costs and expenses are incurred by the
Landlord or it is required to make a contribution to those incurred by the owners and occupiers of neighbouring properties or by a competent authority). 

  

	3	 HEATING
AIR-CONDITIONING AND VENTILATION AND WATER 

 

	3.1	 Heating the Building as may be appropriate in the prevailing climatic conditions and air- conditioning and ventilation and providing hot water to the hot water taps in the Building. 

  

	3.2	 Providing cold water to the cold water taps in the Building. 

 

	3.3	 Repair, maintenance, inspection, renewal and replacement of all plant and equipment required for or in
connection with the working and operation of heating air-conditioning and ventilation and hot and cold water. 

  

	4	 LIFTS 

 

	4.1	 Operation of a lift service in the Building. 

 

	4.2	 Repair maintenance renewal and replacement of the lifts and of all plant and equipment for or in connection
with the working and operation of the lifts. 

  

	5	 INSURANCES 

Engineering insurances for lifts boilers air conditioning plant lightning conductor equipment and all other electrical or mechanical equipment
and apparatus in the Building save to the extent that the Tenant or any other tenant is responsible for effecting such insurance. 
  

	6	 STATUTORY REQUIREMENTS 

Compliance with the requirements of any statute or any government department local authority other public or competent authority or court of
competent jurisdiction and of the insurers in relation to the use occupation and enjoyment of the Building which for the avoidance of doubt shall include the procurement of EPCs and any other form of energy or environmental certification required
from time to time where such costs are not already paid for by a Tenant of a Lettable Area in accordance with the terms of this Lease. 

Part 3 
 Non-mandatory Services and heads of charge 
  

	1	 ENERGY EFFICIENCY 

 

	1.1	 Carrying out any works to improve the Environmental Rating waste efficiency or water and waste water efficiency
of the Common Parts. 

  

	1.2	 Energy Costs in relation to the Common Parts or in relation to the provision of the Services.

  
 46 

	2	 LEGAL PROCEDURES 

 

	2.1	 Making reasonable and proper representations against or contesting the provisions of any notice direction order
certificate assessment or proposal affecting the whole or any part of the Building. 

  

	2.2	 The proper costs of pursuing and enforcing any claim and taking or defending any proceedings:

  

	 	(a)	 against any third party or parties employed in the construction refurbishment and/or repair of the Building or
for the remedy of a defect or otherwise and 

  

	 	(b)	 to establish preserve or defend any rights amenities or facilities used or enjoyed by the occupiers of the
Building or any part of it. 

  

	3	 EMPLOYEES 

 

	3.1	 Employment of a housekeeper facilities manager porter caretaker cleaning staff gardener or other staff for the
maintenance and upkeep of and the provision of services and security in the Building including (without limitation upon the general operation of this paragraph) National Insurance and pension contributions of such employees. 

 

	3.2	 Provision of uniforms overalls and protective clothing for such employees or other staff required in connection
with their duties. 

  

	4	 COMMON PARTS 

 

	4.1	 Provision of and repair maintenance inspection renewal and replacement of directional and other informative
notices in the Common Parts. 

  

	4.2	 Furnishing carpeting equipping and ornamentation of the Common Parts. 

 

	4.3	 Landscaping planting and replanting and the maintenance and upkeep of the Common Parts and of garden grassed
areas and flagpoles on or within the Building. 

  

	5	 MANAGEMENT PREMISES 

 

	5.1	 Operating costs of Management Premises. 

 

	5.2	 Payment of all Outgoings in respect of Management Premises. 

 

	5.3	 Payment of any rent service charge or other costs payable by the Landlord or any deemed rents in relation to
the Management Premises. 

  

	5.4	 Provision maintenance inspection repair and replacement of equipment tools and utensils for the efficient
management of the Services. 

  

	6	 REFUSE COLLECTION 

Provision of refuse and/or recycling facilities and refuse collection services. 

 

	7	 FIRE FIGHTING EQUIPMENT SECURITY
AND PUBLIC ADDRESS 

  

	7.1	 Maintenance inspection repair and replacement of fire alarms and sprinkler systems. 

 

	7.2	 Provision operation maintenance inspection repair and replacement of ancillary fire prevention apparatus fire
fighting equipment telephone and public address systems and the closed circuit television and intruder alarm systems. 

  

	7.3	 Security arrangements for the safety of occupiers and users of the Building and their property kept in the
Building. 

  

	7.4	 Engagement of security officers and security services. 

  
 47 

	8	 INSURANCES 

Such additional insurances (other than as referred to in paragraph 5 of Part 2 of this Schedule or in Schedule 6) as the Landlord reasonably
effects in respect of or incidental to the Building its operation and management. 
  

	9	 AMENITIES IN COMMON PARTS

 Running in the Common Parts such amenities as the Landlord may reasonably determine are for the benefit of the occupiers
of the Building. 
  

	10	 PEST CONTROL 

Provision of pest and infection control. 
  

	11	 OTHER CHARGES 

All other charges assessments and expenses (if any) reasonably incurred or paid by the Landlord or on its behalf in connection with the
operation or maintenance or proper and convenient management of the Building. 
  

	12	 ENFORCING CLAIMS 

If required pursuant to paragraph 10.7 of Part 1 of Schedule 7, the proper costs of pursuing and enforcing any claim, and taking or defending
any proceedings (such proper costs reasonably and fairly attributable to the Premises only) which the Landlord may in its discretion make, take or defend: 
  

	 	(a)	 against contractors, consultants, architects, consulting engineers and surveyors and any other professionals
employed or engaged in connection with the construction and/or refurbishment and/or repair of the Building and/or the Premises or any other third party, for the remedy of a defect, repairs in or to the Building or otherwise for which they or any of
them may be liable; and 

  

	 	(b)	 for the purpose of establishing, preserving or defencing any rights, amenities or facilities used or enjoyed by
the tenants and occupiers of the Building or any part of it or to which they may be entitled. 

  
 48 

 SCHEDULE 8 

Guarantee 
 Part 1

 Covenants by the Guarantor 
  

	1.	 The Guarantor (if any) in consideration of the grant of this Lease (or the agreement to the assignment of this
Lease as appropriate) covenants and guarantees with and to the Landlord that: 

  

	 	(a)	 the Tenant will punctually pay the rents and perform and observe the covenants and other terms of this Lease;

  

	 	(b)	 if the Tenant defaults in so doing the Guarantor will pay the rents and perform or observe the covenants or
terms in respect of which the Tenant is in default and on demand indemnify the Landlord against all liability arising or incurred by the Landlord as a result of default notwithstanding: 

 

	 	(i)	 any time or indulgence granted by the Landlord to the Tenant or any neglect or forbearance of the Landlord in
enforcing the payment of the rents or the observance or performance of the covenants or other terms of this Lease; 

  

	 	(ii)	 that the terms of this Lease may have been varied by agreement between the parties (but subject to section 18
of the Landlord and Tenant (Covenants) Act 1995); 

  

	 	(iii)	 that the Tenant has surrendered part of the Premises (when the liability of the Guarantor will continue in
respect of the part not surrendered after making any necessary apportionments under section 140 of the Law of Property Act 1925); 

  

	 	(iv)	 any refusal by the Landlord to accept payment of the Rent in order to avoid waiving a breach of the
Tenant’s covenants; 

  

	 	(v)	 any Trigger Event; 

  

	 	(vi)	 any other act or thing by which but for this provision the Guarantor would have been released;

  

	 	(vii)	 any legal limitations, immunity, disability, incapability or other circumstances relating to the Tenant,
whether or not known to the Landlord; or 

  

	 	(viii)	 the invalidity or unenforceability of any of the Tenant’s covenants in this Lease or under any Authorised
Guarantee Agreement. 

  

	2.	 It is hereby agreed that if any payment is made under the terms of this guarantee and the Guarantor is
thereupon subrogated to all the Landlord’s rights of recovery in relation thereto then the Guarantor shall not exercise any such rights against the Tenant. 

 

	3.	 This guarantee takes effect immediately on the grant (or the assignment as appropriate) of the lease to the
Tenant and is to remain in force until the Tenant is released by law from liability under this Lease. 

  

	4.	 The Guarantor also covenants with the Landlord that if a Trigger Event occurs (where the Trigger Event is a
Termination Trigger Event) the Landlord may within 12 months after the Trigger Event by notice (or where the Trigger Event is an Other Trigger Event at any time) require the Guarantor to accept a new lease of the Premises for a term equivalent to
the residue which if there had been no disclaimer would have remained of the Term at the same rent and subject to the same terms as in this Lease immediately before the date of such

  
 49 

	 	
Trigger Event the new lease and the rights and liabilities under it to take effect from the date of such Trigger Event and the Guarantor will pay the costs incurred by the Landlord in connection
with the new lease and the Guarantor will accept and complete the new lease. If there is more than one Guarantor, the Landlord may require one or more of them to accept a new lease. 

 

	5.	 If a Trigger Event occurs and the Landlord does not require the Guarantor to accept a new lease as above the
Guarantor will pay to the Landlord on demand an amount equal to the difference between any money received by the Landlord for the use or occupation of the Premises less any expenditure incurred by the Landlord in connection with the Premises and the
rents which would have been payable under the lease but for such Trigger Event in both cases for the period commencing with the date of such Trigger Event and ending on whichever is the earlier of the following dates: 

 

	 	(a)	 where the Trigger Event was a Termination Trigger Event, six months from and including the Termination Trigger
Event or, if earlier, the date on which the Landlord re-let the Premises; or 

  

	 	(b)	 where the Trigger Event was an Other Trigger Event, when the Tenant is released from the covenants on the part
of the Tenant pursuant to the Landlord and Tenant (Covenants) Act 1995. 

 Part 2 

Exclusion of Sections 24-28 of the 1954 Act 

 

	1.	 The Landlord and the Guarantor agree to exclude the provisions of sections
24-28 (inclusive) of the 1954 Act in relation to the tenancy to be created by the new lease. 

  

	2.	 The Guarantor confirms that before it became contractually bound to enter into the new lease:

  

	 	(a)	 the Landlord served on the Guarantor a notice
dated                in relation to the tenancy created by the new lease (the “Notice”) in a form complying with the requirements of Schedule 2 of the
Order. 

  

	 	(b)	 the Guarantor, or a person duly authorised by the Guarantor, in relation to the Notice made a statutory
declaration (the “Declaration”) dated                in a form complying with the requirements of Schedule 2 of the Order. 

 

	3.	 The Guarantor confirms that, where the Declaration was made by a person other than the Guarantor, the declarant
was duly authorised by the Guarantor to make the Declaration on Guarantor’s behalf. 

 Part 3 

Further Covenants by Guarantor 
  

	1.	 The Guarantor in consideration of the agreement to the assignment of this Lease covenants and guarantees with
the Landlord that the Tenant will observe and perform its obligations under the Authorised Guarantee Agreement entered into by the Tenant pursuant to the terms of this Lease. 

 

	2.	 The Guarantor shall not: 

 

	 	(a)	 seek to recover any sums from the Tenant; or 

 

	 	(b)	 exercise any rights over the Tenant in respect of sums owed to the Guarantor; or 

 

	 	(c)	 accept any money or other property from the Tenant, 

until the obligations guaranteed and indemnified pursuant to this Schedule have been discharged or performed in full. 

  
 50 

	3.	 The Guarantor shall not claim as a creditor in competition with the Landlord in relation to an Insolvency Event
of the Tenant. 

  

	4.	 The Guarantor shall, at the request of the Landlord, join in any document that may be entered into by the
Tenant in connection with this Lease or an Authorised Guarantee Agreement. 

  
 51 

 SCHEDULE 9 

Category A Specification 

  
 52 

					
	EXECUTED as a DEED on behalf of	  	)	  	
	NEW CONNECT INVESTMENTS LIMITED	  	)
	a company incorporated in	  	)
	BRITISH VIRGIN ISLANDS	  	)	  	 /s/ Raymond Chun Wai Kwok

	by Raymond Chun Wai Kwok	  	)	  	authorised signatory
	and Connie Ngan Ying Lo	  	)
 )
 )
	  	
	being persons who, in accordance with	  	)	  	 /s/ Connie Ngan Ying Lo

	the laws of that territory, are acting	  	)	  	authorised signatory
	under the authority of the company	  	)	  	
			
	EXECUTED as a DEED by	  	)	  	
	ORCHARD THERAPEUTICS LIMITED	  	)
	by a director in the presence of:	  	)
		  	)	  	 /s/ Mark Rothera, CEO

		  	)	  	Director
	Witness Signature /s/ Gian
Maria                                        
	  	)	  	
	  
 Witness Name: Gian Maria
	  	)
 )

	  
 Witness Address 4 Thirlmererise
	  	)
 )

	                            Bromley	  	)	  	
	             BR1 4HY
	  		  	

  

  
 53IntelGenx Technologies Corp.: Exhibit 4.1 - Filed by newsfilecorp.com

 

	 
	 
	 
	 
	INTELGENX TECHNOLOGIES CORP. 
	as Issuer  
	 
	 
	 and  
	 
	 
	[     ] 
	as U.S. Trustee 
	 
	 
	 
	 and  
	 
	 
	[     ] 
	as Canadian Trustee 
	 
	 
	 
	 
	Indenture  
	 
	Dated as of [     ]
  
	 

TABLE OF CONTENTS 

	ARTICLE
      ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL
      APPLICATION 	1
      
	 	SECTION
      1.01 	Definitions
      	1
      
	 	SECTION
      1.02 	Rules
      of Construction 	10
      
	 	SECTION
      1.03 	Compliance
      Certificates and Opinions 	10
      
	 	SECTION
      1.04 	Form
      of Documents Delivered to Trustees 	11
      
	 	SECTION
      1.05 	Acts
      of Holders 	12
      
	 	SECTION
      1.06 	Notices,
      Etc. to Trustees and Company 	13
      
	 	SECTION
      1.07 	Notice
      to Holders; Waiver 	13
      
	 	SECTION
      1.08 	Effect
      of Headings and Table of Contents 	14
      
	 	SECTION
      1.09 	Successors
      and Assigns 	14
      
	 	SECTION
      1.10 	Severability
      Clause 	14
      
	 	SECTION
      1.11 	Benefits
      of Indenture 	15
      
	 	SECTION
      1.12 	Governing
      Law 	15
      
	 	SECTION
      1.13 	Legal
      Holidays 	15
      
	 	SECTION
      1.14 	Agent
      for Service; Submission to Jurisdiction; Waiver of Immunities 	15
      
	 	SECTION
      1.15 	Conversion
      of Judgment Currency 	16
      
	 	SECTION
      1.16 	Currency
      Equivalent 	17
      
	 	SECTION
      1.17 	Conflict
      with Trust Indenture Legislation 	17
      
	 	SECTION
      1.18 	Incorporators,
      Shareholders, Officers and Directors of the Company Exempt from Individual
      Liability 	17
      
	 	SECTION
      1.19 	Waiver
      of Jury Trial 	18
      
	 	SECTION
      1.20 	Counterparts
      	18
      
	 	SECTION
      1.21 	Force
      Majeure 	18
      
	 	 	 	 
	ARTICLE
      TWO SECURITIES FORMS 	18
      
	 	SECTION
      2.01 	Forms
      Generally 	18
      
	 	SECTION
      2.02 	Form
      of Trustee’s Certificate of Authentication 	18
      
	 	SECTION
      2.03 	Securities
      Issuable in Global Form 	19
      
	 	 	 	 
	ARTICLE
      THREE THE SECURITIES 	20
      
	 	SECTION
      3.01 	Issuable
      in Series 	20
      
	 	SECTION
      3.02 	Denominations
      	23
      
	 	SECTION
      3.03 	Execution,
      Authentication, Delivery and Dating 	24
      
	 	SECTION
      3.04 	Temporary
      Securities 	25
      
	 	SECTION
      3.05 	Registration,
      Registration of Transfer and Exchange 	27
      
	 	SECTION
      3.06 	Mutilated,
      Destroyed, Lost and Stolen Securities 	31
      
	 	SECTION
      3.07 	Payment
      of Principal, Premium and Interest; Interest Rights Preserved; Optional
      Interest Reset 	32
      
	 	SECTION
      3.08 	Optional
      Extension of Stated Maturity 	34
      
	 	SECTION
      3.09 	Persons
      Deemed Owners 	35
      
	 	SECTION
      3.10 	Cancellation
      	36
      
	 	SECTION
      3.11 	Computation
      of Interest 	36
      
	 	SECTION
      3.12 	Currency
      and Manner of Payments in Respect of Securities 	36
      
	 	SECTION
      3.13 	Appointment
      and Resignation of Successor Exchange Rate Agent 	39
      
	 	 	 	 
	ARTICLE
      FOUR SATISFACTION AND DISCHARGE 	40
      
	 	SECTION
      4.01 	Satisfaction
      and Discharge of Indenture 	40
      

i 

	 	SECTION 4.02
      	Application
      of Trust Money 	41
  
	 	 	 	 
	ARTICLE
      FIVE REMEDIES 	41
  
	 	SECTION 5.01 	Events of Default 	41 
	 	SECTION 5.02
      	Acceleration
      of Maturity; Rescission and Annulment 	42
  
	 	SECTION 5.03 	Collection of Debt and Suits
      for Enforcement by Trustees 	43 
	 	SECTION 5.04
      	Trustees May
      File Proofs of Claim 	44
  
	 	SECTION 5.05 	Trustees May Enforce Claims
      Without Possession of Securities 	44 
	 	SECTION 5.06
      	Application
      of Money Collected 	45
  
	 	SECTION 5.07 	Limitation on Suits 	45 
		SECTION 5.08 	Unconditional Right of Holders
      to Receive Principal, Premium and Interest46 	
	 	SECTION 5.09 	Restoration of Rights and
      Remedies 	46 
	 	SECTION 5.10
      	Rights and
      Remedies Cumulative 	46
  
	 	SECTION 5.11 	Delay or Omission Not Waiver
      	46 
	 	SECTION 5.12
      	Control by
      Holders 	46
  
	 	SECTION 5.13 	Waiver of Past Defaults
    	47 
	 	SECTION 5.14
      	Waiver of
      Stay or Extension Laws 	47
  
	 	SECTION 5.15 	Undertaking for Costs
	47 
	 	 	 	 
	ARTICLE
      SIX THE TRUSTEES 	48 
	 	SECTION 6.01
      	Notice of
      Defaults 	48
  
	 	SECTION 6.02 	Certain Duties and
      Responsibilities of Trustees 	48 
	 	SECTION 6.03
      	Certain
      Rights of Trustees 	49
  
	 	SECTION 6.04 	Trustees Not Responsible for
      Recitals or Issuance of Securities 	50 
	 	SECTION 6.05
      	May Hold
      Securities 	51
  
	 	SECTION 6.06 	Money Held in Trust 	51 
	 	SECTION 6.07
      	Compensation
      and Reimbursement 	51
  
	 	SECTION 6.08 	Corporate Trustees Required;
      Eligibility 	52 
	 	SECTION 6.09
      	Resignation
      and Removal; Appointment of Successor 	52
  
	 	SECTION 6.10 	Acceptance of Appointment by
      Successor 	54 
	 	SECTION 6.11
      	Merger,
      Conversion, Consolidation or Succession to Business 	55
  
	 	SECTION 6.12 	Appointment of
      Authenticating Agent 	55 
	 	SECTION 6.13
      	Joint
      Trustees 	57
  
	 	SECTION 6.14 	Other Rights of Trustees
    	57 
	 	 	 	 
	ARTICLE
    SEVEN HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 	59 
	 	SECTION 7.01
    	Company to
    Furnish Trustees Names and Addresses of Holders 	59
  
	 	SECTION 7.02 	Preservation of List of
    Names and Addresses of Holders 	59 
	 	SECTION 7.03
    	Disclosure
    of Names and Addresses of Holders 	59
  
	 	SECTION 7.04 	Reports by Trustees 	59 
	 	SECTION 7.05
      	Reports by
      the Company 	60
  
	 	 	 	 
	ARTICLE
      EIGHT CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR
      LEASE 	 60
      
	 	SECTION 8.01 	Company May Consolidate,
      etc., only on Certain Terms 	60 
	 	SECTION 8.02
      	Successor
      Person Substituted 	61
  
	 	 	 	 
	ARTICLE
      NINE SUPPLEMENTAL INDENTURES 	61
  
	 	SECTION 9.01 	Supplemental Indentures
      Without Consent of Holders 	61 
	 	SECTION 9.02
      	Supplemental
      Indentures with Consent of Holders 	63
  

ii 

	 	SECTION 9.03
      	Execution of
      Supplemental Indentures 	64
  
	 	SECTION 9.04 	Effect of Supplemental
      Indentures 	64 
	 	SECTION 9.05
      	Conformity
      with Trust Indenture Legislation 	64
  
	 	SECTION 9.06 	Reference in Securities to
      Supplemental Indentures 	64 
	 	SECTION 9.07
      	Notice of
      Supplemental Indentures 	64
  
	 	 	 	 
	ARTICLE TEN COVENANTS 	65
  
	 	SECTION 10.01 	Payment of Principal,
      Premium and Interest 	65 
	 	SECTION
      10.02 	Maintenance
      of Office or Agency 	65
  
	 	SECTION 10.03 	Money for Securities
      Payments to Be Held in Trust 	66 
	 	SECTION
      10.04 	Statement as
      to Compliance 	67
  
	 	SECTION 10.05 	Payment of Taxes and Other
      Claims 	68 
	 	SECTION
      10.06 	Corporate
      Existence 	68
  
	 	SECTION 10.07 	Waiver of Certain Covenants
      	68 
	 	 	 	 
	ARTICLE ELEVEN REDEMPTION OF SECURITIES 	68 
	 	SECTION
      11.01 	Applicability of Article 	68
  
	 	SECTION 11.02 	Election to Redeem; Notice
      to Trustees 	68 
	 	SECTION
      11.03 	Selection by
      Trustees of Securities to Be Redeemed 	69
  
	 	SECTION 11.04 	Notice of Redemption 	69 
	 	SECTION
      11.05 	Deposit of
      Redemption Price 	70
  
	 	SECTION 11.06 	Securities Payable on
      Redemption Date 	70 
	 	SECTION
      11.07 	Securities
      Redeemed in Part 	71
  
	 	 	 	 
	ARTICLE TWELVE SINKING FUNDS 	71
  
	 	SECTION 12.01 	Applicability of Article
    	71 
	 	SECTION
      12.02 	Satisfaction
      of Sinking Fund Payments with Securities 	71
  
	 	SECTION 12.03 	Redemption of Securities for
      Sinking Fund 	72 
	 	 	 	 
	ARTICLE THIRTEEN REPAYMENT AT OPTION OF HOLDERS
    	73 
	 	SECTION
      13.01 	Applicability of Article 	73
  
	 	SECTION 13.02 	Repayment of Securities
    	73 
	 	SECTION
      13.03 	Exercise of
      Option 	73
  
	 	SECTION 13.04 	When Securities Presented
      for Repayment Become Due and Payable 	74 
	 	SECTION
      13.05 	Securities
      Repaid in Part 	74
  
	 	 	 	 
	ARTICLE FOURTEEN DEFEASANCE AND COVENANT DEFEASANCE
      	75
  
	 	SECTION 14.01 	Company’s Option to Effect
      Defeasance or Covenant Defeasance 	75 
	 	SECTION
      14.02 	Defeasance
      and Discharge 	75
  
	 	SECTION 14.03 	Covenant Defeasance 	75 
	 	SECTION
      14.04 	Conditions
      to Defeasance or Covenant Defeasance 	76
  
		SECTION 14.05 	Deposited Money and
      Government Obligations to Be Held in Trust; Other Miscellaneous Provisions
      	77 
	 	SECTION
      14.06 	Reinstatement 	78
  
	 	 	 	 
	ARTICLE FIFTEEN MEETINGS OF HOLDERS OF SECURITIES
      	79
  
	 	SECTION 15.01 	Purposes for Which Meetings
      May Be Called 	79 
	 	SECTION
      15.02 	Call, Notice
      and Place of Meetings 	79
  
	 	SECTION 15.03 	Persons Entitled to Vote at
      Meetings 	79 
	 	SECTION
      15.04 	Quorum;
      Action 	79
  

iii 

		SECTION
      15.05 	Determination of Voting Rights; Conduct and Adjournment of
      Meetings 	80
  
	 	SECTION 15.06 	Counting Votes and Recording
      Action of Meetings 	81 

iv 

CROSS-REFERENCE TABLE 

	TIA 	 	Indenture 
	Section 	Section 
	310 	(a) 	6.08(1) 
	 	(b) 	6.09 
	 	(c) 	Not Applicable 
	311 	(a) 	6.05 
	 	(b) 	6.05 
	 	(c) 	Not Applicable 
	312 	(a) 	7.05 
	 	(b) 	7.03 
	 	(c) 	7.03 
	313 	(a) 	7.04 
	 	(b) 	7.04 
	 	(c) 	7.04 
	 	(d) 	7.05 
	314 	(a) 	7.05 
	 	(a)(4) 	10.04 
	 	(b) 	Not Applicable 
	 	(c)(1) 	1.01 
	 	(c)(2) 	1.01 
	 	(d) 	Not Applicable 
	 	(e) 	1.01 
	 	(f) 	Not Applicable 
	315 	(a) 	6.02 
	 	(b) 	6.01 
	 	(c) 	6.02 
	 	(d) 	6.02 
	 	(e) 	5.15 
	316 	(a)(last sentence) 	1.02 (“Outstanding”) 
	 	(a)(1)(A) 	5.12 
	 	(a)(1)(B) 	5.02, 5.13 
	 	(a)(2) 	Not Applicable 
	 	(b) 	5.08 
	 	(c) 	1.04(e) 
	317 	(a)(1) 	5.03 
	 	(a)(2) 	5.04 
	 	(b) 	10.03 
	318 	(a) 	1.16 

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

 INDENTURE, dated as of
____________________, between INTELGENX TECHNOLOGIES CORP., a corporation duly
continued and existing under the laws of Delaware (herein called the
“Company”), having its principal office at 6420 Abrams, Ville Saint
Laurent, QuebecH4S 1Y2, Canada, and ______________________, a
______________________, organized under the laws of ______________________, as
U.S. trustee (herein called the “U.S. Trustee”), and
______________________, a ______________________, organized under the laws of
______________________, as Canadian trustee (the “Canadian Trustee” and,
together with the U.S. Trustee, the “Trustees”). 

RECITALS 

The Company has duly authorized
the execution and delivery of this Indenture to provide for the issuance from
time to time of its debentures, notes, bonds or other evidences of indebtedness
(herein called the “Securities”), which may be convertible into or
exchangeable for any securities of any person (including the Company), to be
issued in one or more series as in this Indenture provided. 

This Indenture is subject to the
provisions of Trust Indenture Legislation that are required to be part of this
Indenture and shall, to the extent applicable, be governed by such provisions.

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

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

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

ARTICLE ONE 
DEFINITIONS AND OTHER PROVISIONS OF
GENERAL APPLICATION 

	SECTION 1.01 	Definitions

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

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

“Authenticating Agent”
means any Person authorized by the applicable Trustee pursuant to Section 6.12
to act on behalf of such Trustee to authenticate Securities. 

“Authorized Newspaper”
means a newspaper, in the English language or in an official language of the
country of publication, customarily published on each Business Day, and of
general circulation in each place in connection with which the term is used or
in the financial community of each such place. Where successive publications are
required to be made in Authorized Newspapers, the successive publications may be
made in the same or in different newspapers in the same city meeting the
foregoing requirements and in each case on any Business Day. 

“Base Currency” has the
meaning specified in Section 1.14. 

“Bearer Security” means
any Security except a Registered Security. 

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

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

“Branch Register” has the
meaning specified in Section 3.05. 

“Branch Security
Registrar” has the meaning specified in Section 3.05. 

“Business Day,” when used
with respect to any Place of Payment or any other particular location referred
to in this Indenture or in the Securities, means, unless otherwise specified
with respect to any Securities pursuant to Section 3.01, any day other than
Saturday, Sunday or any other day on which commercial banking institutions in
that Place of Payment or other location are permitted or required by any
applicable law, regulation or executive order to close. 

“calculation period” has
the meaning specified in Section 3.11. 

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

“Central Register” has the
meaning specified in Section 3.05. 

“Central Security
Registrar” has the meaning specified in Section 3.05. 

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

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

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

“Component Currency” has
the meaning specified in Section 3.12(h) .

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

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

 2 

“Corporate Trust Office”
  means the principal corporate trust office of the U.S. Trustee or the Canadian
  Trustee, as applicable, at which at any particular time its corporate trust
  business may be administered, such an office on the date of execution of this
  Indenture of the U.S. Trustee is located at _________________________,
  Attention: _______________________, and of the Canadian Trustee is located at
  ______________________, Attention: ____________________________, except that
  with respect to presentation of Securities for payment or for registration of
  transfer or exchange, such term shall mean the office or agency of the U.S.
  Trustee or the Canadian Trustee, as applicable, designated in writing to the
  Company at which, at any particular time, its corporate agency business shall be
conducted. 

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

“covenant defeasance” has
the meaning specified in Section 14.03. 

“Currency” means any
currency or currencies, composite currency or currency unit or currency units,
including, without limitation, the Euro, issued by the government of one or more
countries or by any recognized confederation or association of such governments.

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

“Defaulted Interest” has the meaning specified in
Section 3.07. 

“defeasance” has the
meaning specified in Section 14.02. 

“Depositary” means, with
respect to the Securities of any series issuable or issued in the form of one or
more Registered Securities, the Person designated as Depositary by the Company
pursuant to Section 3.05 until a successor Depositary shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter
“Depositary” shall mean or include each Person who is then a Depositary
hereunder, and, if at any time there is more than one such Person, “Depositary”
as used with respect to the Securities of any such series shall mean the
Depositary with respect to the Registered Securities of that series. 

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

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

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

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

“Euro” means the single
currency of the participating member states from time to time of the European
Union described in legislation of the European Counsel for the operation of a
single unified European currency (whether known as the Euro or otherwise). 

“Event of Default” has the
meaning specified in Section 5.01. 

3 

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

“Exchange Date” has the
meaning specified in Section 3.04. 

“Exchange Rate Agent”
means, with respect to Securities of or within any series, unless otherwise
specified with respect to any Securities pursuant to Section 3.01, a New York
clearing house bank, designated pursuant to Section 3.01 or Section 3.13. 

“Exchange Rate Officer’s
Certificate” means a tested telex or a certificate setting forth (i) the
applicable Market Exchange Rate and (ii) the Dollar or Foreign Currency amounts
of principal, premium (if any) and interest (if any) (on an aggregate basis and
on the basis of a Security having the lowest denomination principal amount
determined in accordance with Section 3.02 in the relevant Currency), payable
with respect to a Security of any series on the basis of such Market Exchange
Rate, sent (in the case of a telex) or signed (in the case of a certificate) by
the Chief Executive Officer, President or Chief Financial Officer of the
Company. 

“Extension Notice” has the
meaning specified in Section 3.08.

 “Extension Period”
has the meaning specified in Section 3.08. 

“Final Maturity” has the
meaning specified in Section 3.08. 

“First Currency” has the
meaning specified in Section 1.15. 

“Foreign Currency” means
any Currency other than Currency of the United States. 

“GAAP” means generally
accepted accounting principles in Canada in effect from time to time, unless the
Person’s most recent audited or quarterly financial statements are not prepared
in accordance with generally accepted accounting principles in Canada, in which
case “GAAP” shall mean generally accepted accounting principles in the United
States in effect from time to time. 

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

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

4 

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

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

“interest,” when used with
respect to an Original Issue Discount Security which by its terms bears interest
only after Maturity, means interest payable after Maturity at the rate
prescribed in such Original Issue Discount Security. 

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

“Judgment Currency” has
the meaning specified in Section 1.14. 

“Lien” means any mortgage,
pledge, hypothecation, charge, assignment, deposit arrangement, encumbrance,
security interest, lien (statutory or other), or preference, priority or other
security or similar agreement or preferential arrangement of any kind or nature
whatsoever (including, without limitation, any agreement to give or grant a Lien
or any lease, conditional sale or other title retention agreement having
substantially the same economic effect as any of the foregoing). 

“mandatory sinking fund
payment” has the meaning specified in Section 12.01. 

“Market Exchange Rate”
means, unless otherwise specified with respect to any Securities pursuant to
Section 3.01, (i) for any conversion involving a Currency unit on the one hand
and Dollars or any Foreign Currency on the other, the exchange rate between the
relevant Currency unit and Dollars or such Foreign Currency calculated by the
method specified pursuant to Section 3.01 for the Securities of the relevant
series, (ii) for any conversion of Dollars into any Foreign Currency, the noon
(New York City time) buying rate for such Foreign Currency for cable transfers
quoted in New York City as certified for customs purposes by the Federal Reserve
Bank of New York and (iii) for any conversion of one Foreign Currency into
Dollars or another Foreign Currency, the spot rate at noon local time in the
relevant market at which, in accordance with normal banking procedures, the
Dollars or Foreign Currency into which conversion is being made could be
purchased with the Foreign Currency from which conversion is being made from
major banks located in New York City, Toronto, London or any other principal
market for Dollars or such purchased Foreign Currency, in each case determined
by the Exchange Rate Agent. Unless otherwise specified with respect to any
Securities pursuant to Section 3.01, in the event of the unavailability of any
of the exchange rates provided for in the foregoing clauses (i), (ii) and (iii),
the Exchange Rate Agent shall use, in its sole discretion and without liability
on its part, such quotation of the Federal Reserve Bank of New York as of the
most recent available date, or quotations from one or more major banks in New York City, Toronto, London or another
principal market for the Currency in question, or such other quotations as the
Exchange Rate Agent shall deem appropriate. Unless otherwise specified by the
Exchange Rate Agent, if there is more than one market for dealing in any
Currency by reason of foreign exchange regulations or otherwise, the market to
be used in respect of such Currency shall be that upon which a non-resident
issuer of securities designated in such Currency would purchase such Currency in
order to make payments in respect of such securities. 

5 

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

“Notice of Default” has
the meaning specified in Section 6.01. 

“Officer” means the Chair
of the Board of Directors, the Chief Executive Officer, the President, the Chief
Financial Officer, the Chief Operating Officer, any Executive Vice President,
any Vice President, the Treasurer or the Corporate Secretary of the Company or,
in the event that the Company is a partnership or a limited liability company
that has no such officers, a person duly authorized under applicable law by the
general partner, managers, members or a similar body to act on behalf of the
Company.

“Officer’s Certificate”
means a certificate, which shall comply with this Indenture, signed by an
Officer and delivered to the Trustees. 

“Opinion of Counsel” means
a written opinion of counsel, who may be counsel for the Company, including an
employee of the Company, who shall be acceptable to the Trustees, which opinion
may contain customary exceptions and qualifications as to the matters set forth
therein. 

“Optional Reset Date” has
the meaning specified in Section 3.07. 

“optional sinking fund
payment” has the meaning specified in Section 12.01. 

“Original Issue Discount
Security” means any Security which provides for an amount less than the
principal amount thereof to be due and payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 5.02. 

“Original Stated Maturity”
has the meaning specified in Section 3.08. 

“Other Currency” has the
meaning specified in Section 1.15. 

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

	 	(i) 	
      Securities theretofore cancelled by either Trustee or
      delivered to either Trustee for cancellation;

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

6 

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

	 	 	 
	 	(iv) 	
      Securities which have been paid pursuant to Section 3.06
      or in exchange for or in lieu of which other Securities have been
      authenticated and delivered pursuant to this Indenture, other than any
      such Securities in respect of which there shall have been presented to the
      Trustees proof satisfactory to them that such Securities are held by a
      protected purchaser (as defined in Article 8 of the UCC) in whose hands
      such Securities are valid obligations of the
Company;

provided, however, that in determining whether the
Holders of the requisite principal amount of the Outstanding Securities have
given any request, demand, authorization, direction, notice, consent or waiver
hereunder or are present at a meeting of Holders for quorum purposes, and for
the purpose of making the calculations required by TIA Section 313, (i) the
principal amount of an Original Issue Discount Security that may be counted in
making such determination or calculation and that shall be deemed to be
Outstanding for such purpose shall be equal to the amount of principal thereof
that would be (or shall have been declared to be) due and payable, at the time
of such determination, upon a declaration of acceleration of the maturity
thereof pursuant to Section 5.02, (ii) the principal amount of any Security
denominated in a Foreign Currency that may be counted in making such
determination or calculation and that shall be deemed Outstanding for such
purpose shall be equal to the Dollar equivalent, determined as of the date such
Security is originally issued by the Company as set forth in an Exchange Rate
Officer’s Certificate delivered to the Trustees, of the principal amount (or, in
the case of an Original Issue Discount Security, the Dollar equivalent as of
such date of original issuance of the amount determined as provided in clause
(i) above) of such Security, (iii) the principal amount of any Indexed Security
that may be counted in making such determination or calculation and that shall
be deemed outstanding for such purpose shall be equal to the principal face
amount of such Indexed Security at original issuance, unless otherwise provided
with respect to such Security pursuant to Section 3.01, and (iv) Securities
owned by the Company or any other obligor upon the Securities or any Affiliate
of the Company or of such other obligor shall be disregarded and deemed not to
be Outstanding, except that, in determining whether the Trustees shall be
protected in making such calculation or in relying upon any such request,
demand, authorization, direction, notice, consent or waiver, only Securities
which the Trustees know to be so owned shall be so disregarded. Securities so
owned which have been pledged in good faith may be regarded as Outstanding if
the pledgee establishes to the satisfaction of the Trustees the pledgee’s right
so to act with respect to such Securities and that the pledgee is not the
Company or any other obligor upon the Securities or any Affiliate of the Company
or such other obligor. 

“Paying Agent” means any
Person (including the Company acting as Paying Agent) authorized by the Company
to pay the principal of, premium (if any) or interest (if any) on any Securities
on behalf of the Company. Such Person must be capable of making payment in the
Currency of the issued Security. 

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

7 

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

“Predecessor Security” of
any particular Security means every previous Security evidencing all or a
portion of the same debt as that evidenced by such particular Security; and, for
the purposes of this definition, any security authenticated and delivered under
Section 3.06 in exchange for or in lieu of a mutilated, destroyed, lost or
stolen Security or a Security to which a mutilated, destroyed, lost or stolen
coupon appertains shall be deemed to evidence the same debt as the mutilated,
destroyed, lost or stolen Security or the Security to which the mutilated,
destroyed, lost or stolen coupon appertains, as the case may be. 

“Privacy Laws” has the
meaning specified in Section 6.14. 

“rate(s) of exchange” has
the meaning specified in Section 1.14. 

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

“Redemption Price,” when
used with respect to any Security to be redeemed, in whole or in part, means the
price at which it is to be redeemed pursuant to this Indenture, plus accrued and
unpaid interest thereon to the Redemption Date. 

“Registered Security”
means any Security registered in the Security Register. 

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

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

“Reset Notice” has the
meaning specified in Section 3.07. 

“Responsible Officer,”
when used with respect to a Trustee, means any vice president, secretary, any
assistant secretary, treasurer, any assistant treasurer, any senior trust
officer, any trust officer, the controller within the corporate trust
administration division of a Trustee or any other officer of a Trustee
customarily performing functions similar to those performed by any of the
above-designated officers, and also means, with respect to a particular
corporate trust matter, any other officer to whom such matter is referred
because of his knowledge of and familiarity with the particular subject. 

“Securities” has the
meaning stated in the first recital of this Indenture and more particularly
means any Securities authenticated and delivered under this Indenture;
provided, however, that if at any time there is more than one Person
acting as Trustee under this Indenture, “Securities” with respect to the
Indenture as to which such Person is Trustee shall have the meaning stated in
the first recital of this Indenture and shall more particularly mean Securities
authenticated and delivered under this Indenture, exclusive, however, of
Securities of any series as to which such Person is not Trustee. 

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

8 

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

“Specified Amount” has the
meaning specified in Section 3.12(h) . 

“Stated Maturity,” when
used with respect to any Security or any installment of principal thereof or
interest thereon, means the date specified in such Security or a coupon
representing such installment of interest as the fixed date on which the
principal of such Security or such installment of principal or interest is due
and payable, as such date may be extended pursuant to the provisions of Section
3.08 (if applicable). 

“Subsequent Interest
Period” has the meaning specified in Section 3.07. 

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

“Trust Indenture
Legislation” means, at any time, the provisions of (i) any applicable
statute of Canada or any province or territory thereof and the regulations
thereunder as amended or re-enacted from time to time, but only to the extent
applicable, or (iii) the Trust Indenture Act and regulations thereunder, in each
case, relating to trust indentures and to the rights, duties and obligations of
trustees under trust indentures and of corporations issuing debt obligations
under trust indentures, to the extent that such provisions are at such time in
force and applicable to this Indenture or the Company or the Trustees. 

“Trustee” or
“Trustees” means the U.S. Trustee and the Canadian Trustee. If a Canadian
Trustee is not appointed under this Indenture, or resigns or is removed and,
pursuant to Section 6.09, the Company is not required to appoint a successor
Trustee to the Canadian Trustee, “Trustee,” “Trustees” and any reference to
“either Trustee,” “both of the Trustees” or such similar references shall mean
the Person named as the U.S. Trustee or any successor thereto appointed pursuant
to the applicable provisions of this Indenture. Except to the extent otherwise
indicated, “Trustees” shall refer to the Canadian Trustee (if appointed and
still serving) and the U.S. Trustee, both jointly and individually. 

“UCC” means the New York
uniform commercial code in effect from time to time. 

“U.S. Federal Bankruptcy
Code” means the Bankruptcy Act of Title 11 of the United States Code, as
amended from time to time. 

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

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

“United States person”
means, unless otherwise specified with respect to any Securities pursuant to
Section 3.01, an individual who is a citizen or resident of the United States, a
corporation, partnership (including any entity treated as a corporation or as a
partnership for United States federal income tax purposes) or other entity created or organized in or under the
laws of the United States, any state thereof or the District of Columbia, an
estate the income of which is subject to United States federal income taxation
regardless of its source, or a trust if (A) it is subject to the primary
supervision of a court within the United States and one or more United States
persons have the authority to control all substantial decisions of the trust or
(B) it has a valid election in effect under applicable United States Treasury
Regulations to be treated as a United States person. 

9 

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

“Writing” has the meaning
specified in Section 6.13. 

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

	SECTION 1.02 	Rules of Construction.

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

	 	(1) 	
      the terms defined in this Indenture have the meanings
      assigned to them hereinand include the plural as well as the
    singular;

	 	 	 
	 	(2) 	
      all terms used herein which are defined in the Trust
      Indenture Act, either directly or by reference therein, have the meanings
      assigned to them therein, and the terms “cash transaction” and
      “self-liquidating paper,” as used in TIA Section 319, shall have the
      meanings assigned to them in the rules of the Commission adopted under the
      Trust Indenture Act;

	 	 	 
	 	(3) 	
      the words “herein,” “hereof” and “hereunder” and other
      words of similar import refer to this Indenture as a whole and not to any
      particular Article, Section or other subdivision;

	 	 	 
	 	(4) 	
      “or” is not exclusive;

	 	 	 
	 	(5) 	
      words implying any gender shall apply to all
    genders;

	 	 	 
	 	(6) 	
      the words Subsection, Section and Article refer to the
      Subsections, Sections and Articles, respectively, of this Indenture unless
      otherwise noted; and

	 	 	 
	 	(7) 	
      “include,” “includes” or “including” means include,
      includes or including, in each case, without
limitation.

	SECTION 1.03 	Compliance Certificates and Opinions.
  

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

10 

Every certificate or opinion with
  respect to compliance with a covenant or condition provided for in this
Indenture (other than pursuant to Section 10.04) shall include: 

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

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

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

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

	SECTION 1.04 	Form of Documents Delivered to Trustees.
    

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

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

Any certificate or opinion of an
officer of the Company or counsel may be based, insofar as it relates to
accounting matters, upon a certificate or opinion of, or representations by, an
accountant or firm of accountants in the employ of the Company, unless such
officer or counsel, as the case may be, knows, or in the exercise of reasonable
care should know, that the certificate or opinion or representations with
respect to the accounting matters upon which such certificate or opinion may be
based are erroneous.Any certificate or opinion of any independent firm of public
accountants filed with the Trustees shall contain a statement that such firm is
independent. 

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

11 

	SECTION 1.05 	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 of the
Outstanding Securities of all series or one or more series, as the case may be,
may be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such Holders in person or by agents duly appointed in
writing. If Securities of a series are issuable as Bearer Securities, any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders of such series
may, alternatively, be embodied in and evidenced by the record of Holders of
Securities of such series voting in favor thereof, either in person or by
proxies duly appointed in writing, at any meeting of Holders of Securities of
such series duly called and held in accordance with the provisions of Article
Fifteen, or a combination of such instruments and any such record. Except as
herein otherwise expressly provided, such action shall become effective when
such instrument or instruments or record or both are delivered to the Trustees
and, where it is hereby expressly required, to the Company. Such instrument or
instruments and any such record (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders
signing such instrument or instruments or so voting at any such meeting. Proof
of execution of any such instrument or of a writing appointing any such agent,
or of the holding by any Person of a Security, shall be sufficient for any
purpose of this Indenture and conclusive in favor of the Trustees and the
Company, if made in the manner provided in this Section 1.05. The record of any
meeting of Holders of Securities shall be proved in the manner provided in
Section 15.06. 

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

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

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

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

12 

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

	SECTION 1.06 	Notices, Etc. to Trustees and Company.
    

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

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

	 	 	 
	 	(2) 	
      the Canadian Trustee, by the U.S. Trustee, any Holder or
      by the Company shall be sufficient for every purpose hereunder if made,
      given, furnished or filed in writing to or with the Canadian Trustee at
      its Corporate Trust Office, Attention: ________________, or

	 	 	 
	 	(3) 	
      the Company by either Trustee or any Holder shall be
      sufficient for every purpose hereunder (unless otherwise herein expressly
      provided) if in writing and mailed, first- class postage prepaid, to the
      Company at 6420 Abrams, Ville Saint Laurent, Quebec H4S 1Y2, Canada,
      Attention: Corporate Secretary or such other address and/or officer as the
      Company may designate on written notice to the
Trustees.

	SECTION 1.07 	Notice to Holders; Waiver.

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

13 

Any notice mailed to a Holder in the manner herein prescribed
shall be conclusively deemed to have been received by such Holder, whether or
not such Holder actually receives such notice. 

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

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

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

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

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

	SECTION 1.08 	Effect of Headings and Table of
      Contents. 

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

	SECTION 1.09 	Successors and Assigns.

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

	SECTION 1.10 	Severability Clause.

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

14 

	SECTION 1.11 	Benefits of Indenture.

Nothing in this Indenture or in
the Securities or coupons, express or implied, shall give to any Person, other
than the parties hereto, any Authenticating Agent, any Paying Agent, any
Securities Registrar and their successors hereunder and the Holders of
Securities or coupons, any benefit or any legal or equitable right, remedy or
claim under this Indenture. Subject to Section 1.16, at all times in relation to
this Indenture and any action to be taken hereunder, the Company and the
Trustees each shall observe and comply with Trust Indenture Legislation and the
Company, the Trustees and each Holder of a Security shall be entitled to the
benefits of Trust Indenture Legislation. 

	SECTION 1.12 	Governing Law. 

This Indenture and the Securities
and coupons shall be governed by and construed in accordance with the law of the
State of New York, but without giving effect to applicable principles of
conflicts of law to the extent that the application of the law of another
jurisdiction would be required thereby. Each Trustee and the Company agrees to
comply with all provisions of Trust Indenture Legislation applicable to or
binding upon it in connection with this Indenture and any action to be taken
hereunder. This Indenture is subject to the provisions of the Trust Indenture
Act that are required to be part of this Indenture and shall, to the extent
applicable, be governed by such provisions. Notwithstanding the preceding
sentence, the exercise, performance or discharge by the Canadian Trustee of any
of its rights, powers, duties or responsibilities hereunder shall be construed
in accordance with the laws of the Province of Ontario and the federal laws of
Canada applicable thereto. 

	SECTION 1.13 	Legal Holidays. 

In any case where any Interest
Payment Date, Redemption Date, sinking fund payment date or Stated Maturity or
Maturity of any Security shall not be a Business Day at any Place of Payment or
other location contemplated hereunder, then (notwithstanding any other provision
of this Indenture or of any Security or coupon other than a provision in the
Securities of any series which specifically states that such provision shall
apply in lieu of this Section 1.13), payment of principal, premium (if any) or
interest (if any), need not be made at such Place of Payment or other location
contemplated hereunder on such date, but may be made on the next succeeding
Business Day at such Place of Payment or other location contemplated hereunder
with the same force and effect as if made on the Interest Payment Date or
Redemption Date or sinking fund payment date, or at the Stated Maturity or
Maturity; provided that no interest shall accrue for the period from and
after such Interest Payment Date, Redemption Date, sinking fund payment date,
Stated Maturity or Maturity, as the case may be. 

	SECTION 1.14 	Agent for Service; Submission to
      Jurisdiction; Waiver of Immunities. 

By the execution and delivery of
this Indenture, the Company (i) acknowledges that it has irrevocably designated
and appointed _____________________as its authorized agent upon which process
may be served in any suit, action or proceeding arising out of or relating to
the Securities or this Indenture that may be instituted in any United States
federal or New York state court located in The Borough of Manhattan, The City of
New York, or brought by the Trustees (whether in their individual capacity or in
their capacity as Trustees hereunder), (ii) irrevocably submits to the
non-exclusive jurisdiction of any such court in any such suit or proceeding, and
(iii) agrees that service of process upon _____________________and written
notice of said service to the Company (mailed or delivered to the Company at
6420 Abrams, Ville Saint Laurent, Quebec H4S 1Y2, Canada, Attention: Corporate
Secretary or such other address and/or officer as the Company may designate on
written notice to the Trustees), shall be deemed in every respect effective
service of process upon the Company in any such suit or proceeding. The Company
further agrees to take any and all action, including the execution and filing of any and all such documents and instruments, as may be
necessary to continue such designation and appointment of
_____________________in full force and effect so long as this Indenture shall be
in full force and effect. 

15 

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

The Company irrevocably and
unconditionally waives, to the fullest extent permitted by law, any objection
that it may now or hereafter have to the laying of venue of any such action,
suit or proceeding in any such court or any appellate court with respect
thereto. The Company irrevocably waives, to the fullest extent permitted by law,
the defense of an inconvenient forum to the maintenance of any such action, suit
or proceeding in any such court. 

	SECTION 1.15 	Conversion of Judgment Currency.
  

(a)      
The Company covenants and agrees that the following provisions shall apply to
conversion of Currency in the case of the Securities and this Indenture, to the
fullest extent permitted by applicable law: 

(i)     
 If for the purposes of obtaining judgment in, or enforcing the judgment
of, any court in any country, it becomes necessary to convert into a Currency
(the “Judgment Currency”) an amount due or contingently due in any other
Currency under the Securities of any series and this Indenture (the “Base
Currency”), then the conversion shall be made at the rate of exchange
prevailing on the Business Day before the day on which the final judgment is
given or the order of enforcement is made, as the case may be (unless a court
shall otherwise determine). 

(ii)     
 If there is a change in the rate of exchange prevailing between the
Business Day before the day on which the judgment referred to in (i) above is
given or an order of enforcement is made, as the case may be (or such other date
as a court shall determine), and the date of receipt of the amount due, the
Company shall pay such additional (or, as the case may be, such lesser) amount,
if any, as may be necessary so that the amount paid in the Judgment Currency
when converted at the rate of exchange prevailing on the date of receipt will
produce the amount in the Base Currency originally due. 

(b)     
 In the event of the winding-up of the Company at any time while any amount
or damages owing under the Securities and this Indenture, or any judgment or
order rendered in respect thereof, shall remain outstanding, the Company shall
indemnify and hold the Holders and the Trustees harmless against any deficiency
arising or resulting from any variation in rates of exchange between (1) the
date as of which the equivalent of the amount in the Base Currency due or
contingently due under the Securities and this Indenture (other than under this
Subsection (b)) is calculated for the purposes of such winding-up and (2) the
final date for the filing of proofs of claim in such winding-up. For the purpose
of this Subsection (b) the final date for the filing of proofs of claim in the
winding-up of the Company shall be the date fixed by the liquidator or otherwise
in accordance with the relevant provisions of applicable law as being the latest
practicable date as at which liabilities of the Company may be ascertained for
such winding-up prior to payment by the liquidator or otherwise in respect
thereto. 

(c)      
The obligations contained in Subsections (a)(ii) and (b) of this Section 1.15
shall constitute separate and independent obligations of the Company from its
other obligations under the Securities and this Indenture, shall give rise to separate and
independent causes of action against the Company, shall apply irrespective of
any waiver or extension granted by any Holder or the Trustees from time to time
and shall continue in full force and effect notwithstanding any judgment or
order or the filing of any proof of claim in the winding up of the Company for a
liquidated sum in respect of amounts due hereunder (other than under Subsection
(b) above) or under any such judgment or order. Any such deficiency as aforesaid
shall be deemed to constitute a loss suffered by the Holders or the Trustees, as
the case may be, and no proof or evidence of any actual loss shall be required
by the Company or its liquidator. In the case of Subsection (b) above, the
amount of such deficiency shall not be deemed to be increased or reduced by any
variation in rates of exchange occurring between the said final date and the
date of any liquidating distribution. 

16 

The term “rate(s) of
  exchange” shall mean the rate of exchange quoted by a Canadian chartered
  bank as may be designated in writing by the Company to the Trustees from time to
  time, at its central foreign exchange desk in its main office in Toronto at
  12:00 noon (Toronto time) on the relevant date for purchases of the Base
  Currency with the Judgment Currency and includes any premiums and costs of
  exchange payable. The Trustees shall have no duty or liability with respect to
monitoring or enforcing this Section 1.15. 

	SECTION 1.16 	Currency Equivalent.

Except as otherwise provided in
this Indenture, for purposes of the construction of the terms of this Indenture
or of the Securities, in the event that any amount is stated herein in the
Currency of one nation (the “First Currency”), as of any date such amount
shall also be deemed to represent the amount in the Currency of any other
relevant nation (the “Other Currency”) which is required to purchase such
amount in the First Currency at the Bank of Canada noon rate as reported by
Telerate on screen 3194 (or such other means of reporting the Bank of Canada
noon rate as may be agreed upon by each of the parties to this Indenture) on the
date of determination. 

	SECTION 1.17 	Conflict with Trust Indenture
      Legislation. 

If and to the extent that any
provision of this Indenture limits, qualifies or conflicts with any mandatory
requirement of Trust Indenture Legislation, such mandatory requirement shall
control. If and to the extent that any provision hereof modifies or excludes any
provision of Trust Indenture Legislation that may be so modified or excluded,
the latter provision shall be deemed to apply hereof as so modified or to be
excluded, as the case may be. 

	SECTION 1.18 	Incorporators, Shareholders, Officers and
      Directors of the Company Exempt from Individual Liability.
  

No recourse under or upon any
obligation, covenant or agreement contained in this Indenture, or in any
Security, or because of any indebtedness evidenced thereby, shall be had against
any incorporator, as such, or against any past, present or future shareholder,
officer or director, as such, of the Company or of any successor, either
directly or through the Company or any successor, under any rule of law, statute
or constitutional provision or by the enforcement of any assessment or by any
legal or equitable proceeding or otherwise, all such liability being expressly
waived and released by the acceptance of the Securities by the Holders and as
part of the consideration for the issue of the Securities. 

17 

	SECTION 1.19 	Waiver of Jury Trial.

Each of the Company and the
Trustees hereby irrevocably waives, to the fullest extent permitted by
applicable law, any and all right to trial by jury in any legal proceeding
arising out of or relating to this Indenture, the Securities or the transactions
contemplated hereby. 

	SECTION 1.20 	Counterparts. 

This Indenture may be executed in
any number of counterparts (either by facsimile or by original manual
signature), each of which so executed shall be deemed to be an original, but all
such counterparts shall together constitute but one and the same Indenture. 

	SECTION 1.21 	Force Majeure. 

Except for the payment
obligations of the Company contained herein, neither the Company nor the
Trustees shall be liable to each other, or held in breach of this Indenture, if
prevented, hindered, or delayed in the performance or observance of any
provision contained herein by reason of act of God, riots, terrorism, acts of
war, epidemics, governmental action or judicial order, earthquakes, or any other
similar causes (including, but not limited to, mechanical, electronic or
communication interruptions, disruptions or failures). Performance times under
this Indenture shall be extended for a period of time equivalent to the time
lost because of any delay that is excusable under this Section 1.21. 

ARTICLE TWO 
SECURITIES
FORMS 

	SECTION 2.01 	Forms Generally. 

The Registered Securities, if
any, of each series and the Bearer Securities, if any, of each series and
related coupons, if any, shall be in substantially the forms as shall be
established by or pursuant to a Board Resolution or in one or more indentures
supplemental hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this
Indenture, and may have such letters, numbers or other marks of identification
and such legends or endorsements placed thereon as may be required to comply
with the rules of any securities exchange or as may, consistently herewith, be
determined by the Officer executing such Securities or coupons, as evidenced by
the execution of such Securities or coupons by such Officer. If the forms of
Securities or coupons of any series are established by action taken pursuant to
a Board Resolution, a copy of an appropriate record of such action shall be
certified by the Corporate Secretary or an Assistant Secretary of the Company
and delivered to the Trustees at or prior to the delivery of the Company Order
contemplated by Section 3.03 for the authentication and delivery of such
Securities or coupons. Any portion of the text of any Security may be set forth
on the reverse thereof, with an appropriate reference thereto on the face of the
Security. 

Unless otherwise specified as
contemplated by Section 3.01, Bearer Securities shall have interest coupons
attached. 

Either Trustee’s certificate of
authentication shall be in substantially the form set forth in this Article Two.

	SECTION 2.02 	Form of Trustee’s Certificate of
      Authentication. 

Subject to Section 6.12, either
Trustee’s certificate of authentication shall be in substantially the following
form: 

18 

TRUSTEE’S CERTIFICATE OF
AUTHENTICATION

 (Certificate of Authentication may be executed by either
Trustee)

Dated:  ____________

_______________________, as U.S.
Trustee, certifies that this is one of the Securities of the series designated
therein referred to in the within-mentioned Indenture. 

	_________________________________,
	as U.S. Trustee 

    
	By: 	
	 	Authorized Officer

Dated:  ____________

____________________, as Canadian
Trustee, certifies that this is one of the Securities of the series designated
therein referred to in the within-mentioned Indenture. 

	_________________________________,
	as Canadian Trustee 

    
	By: 	
	 	Authorized Officer

	SECTION 2.03 	Securities Issuable in Global Form.
  

If Securities of or within a
series are issuable in global form, as specified and contemplated by Section
3.01, then any such Security shall represent such of the Outstanding Securities
of such series as shall be specified therein and may provide that it shall
represent the aggregate amount of Outstanding Securities of such series from
time to time endorsed thereon and that the aggregate amount of Outstanding
Securities of such series represented thereby may from time to time be increased
or decreased to reflect exchanges. Any endorsement of a Security in global form
to reflect the amount, or any increase or decrease in the amount, of Outstanding
Securities represented thereby shall be made by the Trustees in such manner and
upon instructions given by the Holder or its nominee as shall be specified
therein or in the Company Order to be delivered to the Trustees pursuant to
Section 3.03 or 3.04. Subject to the provisions of Sections 3.03 and 3.04 (if
applicable), the Trustees shall deliver and redeliver any Security in global
form in the manner and upon instructions given by the Holder or its nominee as
shall be specified therein or in the applicable Company Order. If a Company
Order pursuant to Section 3.03 or Section 3.04 has been, or simultaneously is,
delivered, any instructions by the Company with respect to endorsement or
delivery or redelivery of a Security in global form shall be in writing but need
not comply with Section 1.03 and need not be accompanied by an Opinion of
Counsel. 

19 

Notwithstanding the provisions of
Section 3.07, unless otherwise specified as contemplated by Section 3.01,
payment of principal of, premium (if any) and interest (if any) on any Security
in permanent global form shall be made to the Holder or its nominee specified
therein. 

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

ARTICLE THREE 
THE SECURITIES 

	SECTION 3.01 	Issuable in Series. 

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

The Securities may be issued in
one or more series and may be denominated and payable in Dollars or any Foreign
Currency. There shall be established in one or more Board Resolutions or
pursuant to authority granted by one or more Board Resolutions and set forth in,
or determined in the manner provided in, an Officer’s Certificate, or
established in one or more indentures supplemental hereto, prior to the issuance
of Securities of any series, any or all of the following, as applicable: 

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

	 	 	 
	 	(2) 	
      the aggregate principal amount of the Securities of the
      series and any limit upon the aggregate principal amount of the Securities
      of the series that may be authenticated and delivered under this Indenture
      (except for Securities authenticated and delivered upon registration of
      transfer (including any restriction or condition on the transferability of
      the Securities of such series) of, or in exchange for, or in lieu of,
      other Securities of the series pursuant to Section 3.04, 3.05, 3.06, 9.06,
      11.07 or 13.05) and, in the event that no limit upon the aggregate
      principal amount of the Securities of that series is specified, the
      Company shall have the right, subject to any terms, conditions or other
      provisions specified pursuant to this Section 3.01 with respect to the
      Securities of such series, to re- open such series for the issuance of
      additional Securities of such series from time to time;

	 	 	 
	 	(3) 	
      the extent and manner, if any, to which payment on or in
      respect of the Securities of the series will be senior or will be
      subordinated to the prior payment of other liabilities and obligations of
      the Company, and whether the payment of principal, premium (if any) and
      interest (if any) will be guaranteed by any other Person and the nature
      and priority of any security;

	 	 	 
	 	(4) 	
      the percentage or percentages of principal amount at
      which the Securities of the series will be issued;

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

20 

	 	(6) 	
      the rate or rates at which the Securities of the series
      shall bear interest, whether fixed or variable (if any), or the method by
      which such rate or rates shall be determined, whether such interest shall
      be payable in cash or additional Securities of the same series or shall
      acure and increase the aggregate principal aount outstanding of such
      series, the date or dates from which such interest shall accrue, or the
      method by which such date or dates shall be determined, the Interest
      Payment Dates on which such interest shall be payable and the Regular
      Record Date, if any, for the interest payable on any Registered Security
      on any Interest Payment Date, or the method by which such date or dates
      shall be determined, and the basis upon which interest shall be calculated
      if other than on the basis of a 360-day year of twelve 30-day
    months;

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

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

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

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

	 	 	 
	 	(11) 	
      the identity of each Security Registrar and/or Paying
      Agent;

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

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

21 

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

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

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

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

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

	 	 	 
	 	(19) 	
      any deletions from, modifications of or additions to the
      Events of Default or covenants (including any deletions from,
      modifications of or additions to Section 10.09) of the Company with
      respect to Securities of the series, whether or not such Events of Default
      or covenants are consistent with the Events of Default or covenants set
      forth herein;

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

	 	 	 
	 	(21) 	
      the date as of which any Bearer Securities of the series
      and any temporary global Security of the series shall be dated if other
      than the date of original issuance of the first Security of the series to
      be issued;

	 	 	 
	 	(22) 	
      the Person to whom any interest on any Registered
      Security of the series shall be payable, if other than the Person in whose
      name that Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest, the manner in which, or the Person to
whom, any interest on any Bearer Security of the series shall be payable, if
otherwise than upon presentation and surrender of the coupons appertaining
thereto as they severally mature, and the extent to which, or the manner in
which, any interest payable on a temporary global Security on an Interest
Payment Date will be paid if other than in the manner provided in Section 3.04;

22 

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

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

	 	 	 
	 	(25) 	
      if the Securities of the series are to be convertible
      into or exchangeable for any securities or property of any Person
      (including the Company), the terms and conditions upon which such
      Securities will be so convertible or exchangeable, and any additions or
      changes to permit or facilitate such conversion or exchange;

	 	 	 
	 	(26) 	
      provisions as to modification, amendment or variation of
      any rights or terms attaching to the Securities;

	 	 	 
	 	(27) 	
      whether the Securities will be secured or unsecured;
      and

	 	 	 
	 	(28) 	
      any other terms, conditions, rights and preferences (or
      limitations on such rights and preferences) relating to the series (which
      terms shall not be inconsistent with the requirements of Trust Indenture
Legislation or the provisions of this Indenture).

All Securities of any one series
and the coupons appertaining to any Bearer Securities of such series shall be
substantially identical except, in the case of Registered Securities, as to
denomination and except as may otherwise be provided in or pursuant to such
Board Resolution (subject to Section 3.03) and set forth in such Officer’s
Certificate or in any such indenture supplemental hereto. Not all Securities of
any one series need be issued at the same time, and, unless otherwise provided,
a series may be reopened for issuances of additional Securities of such series.

If any of the terms of the series
are established by action taken pursuant to one or more Board Resolutions, such
Board Resolutions shall be delivered to the Trustees at or prior to the delivery
of the Officer’s Certificate setting forth the terms of the series. 

	SECTION 3.02 	Denominations. 

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

23 

	SECTION 3.03 	Execution, Authentication, Delivery and
      Dating. 

The Securities and any coupons
appertaining thereto shall be executed on behalf of the Company by an Officer.
The signature of an Officer on the Securities or coupons may be the manual or
facsimile signatures of the present or any future such authorized officer and
may be imprinted or otherwise reproduced on the Securities. 

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

At any time and from time to time
after the execution and delivery of this Indenture, the Company may deliver
Securities of any series together with any coupons appertaining thereto,
executed by the Company to the applicable Trustee for authentication, together
with a Company Order for the authentication and delivery of such Securities, and
the applicable Trustee in accordance with such Company Order shall authenticate
and deliver such Securities; provided, however, that, in connection with
its original issuance, no Bearer Security shall be mailed or otherwise delivered
to any location in the United States; provided further that, unless
otherwise specified with respect to any series of Securities pursuant to Section
3.01, a Bearer Security may be delivered in connection with its original
issuance only if the Person entitled to receive such Bearer Security shall have
furnished a certificate in the form set forth in Exhibit A-1 to this Indenture,
dated no earlier than 15 days prior to the earlier of the date on which such
Bearer Security is delivered and the date on which any temporary Security first
becomes exchangeable for such Bearer Security in accordance with the terms of
such temporary Security and this Indenture. If any Security shall be represented
by a permanent global Bearer Security, then, for purposes of this Section 3.03
and Section 3.04, the notation of a beneficial owner’s interest therein upon
original issuance of such Security or upon exchange of a portion of a temporary
global Security shall be deemed to be delivery in connection with its original
issuance of such beneficial owner’s interest in such permanent global Security.
Except as permitted by Section 3.06, the Trustees shall not authenticate and
deliver any Bearer Security unless all appurtenant coupons for interest then
matured have been detached and cancelled. If not all the Securities of any
series are to be issued at one time and if the Board Resolution or supplemental
indenture establishing such series shall so permit, such Company Order may set
forth procedures acceptable to the Trustees for the issuance of such Securities
and determining terms of particular Securities of such series such as interest
rate, Stated Maturity, date of issuance and date from which interest shall
accrue. 

In authenticating such
Securities, and accepting the additional responsibilities under this Indenture
in relation to such Securities, the Trustees shall be entitled to receive, and
(subject to Trust Indenture Legislation and TIA Sections 315(a) through 315(d))
shall be fully protected in relying upon, an Opinion of Counsel stating: 

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

(b)      
that the terms of such Securities and any coupons have been established in
conformity with the provisions of this Indenture; 

(c)      
that such Securities, together with any coupons appertaining thereto, when
completed by appropriate insertions and executed and delivered by the Company to
the applicable Trustee for authentication in accordance with this Indenture,
authenticated and delivered by the applicable Trustee in accordance with this
Indenture and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute the
legal, valid and binding obligations of the Company, enforceable in accordance
with their terms;

24 

 (d)        the execution and delivery by the Company of such
  Securities, any coupons and any supplemental indenture will not contravene the
  articles of incorporation or continuance, or such other constating documents
  then in effect, if any, or the by-laws of the Company, or violate applicable
  laws; and

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

Notwithstanding the provisions of
  Section 3.01 and of the preceding two paragraphs, if not all the Securities of
  any series are to be issued at one time, it shall not be necessary to deliver
  the Officer’s Certificate otherwise required pursuant to Section 3.01 or the
  Company Order and Opinion of Counsel otherwise required pursuant to the
  preceding two paragraphs prior to or at the time of issuance of each Security,
  but such documents shall be delivered prior to or at the time of issuance of the
first Security of such series. 

The Trustees shall not be
required to authenticate and deliver any such Securities if the issue of such
Securities pursuant to this Indenture will affect the Trustees’ own rights,
duties or immunities under the Securities and this Indenture or otherwise in a
manner which is not reasonably acceptable to the Trustees. 

Each Registered Security shall be
dated the date of its authentication and each Bearer Security shall be dated as
of the date specified as contemplated by Section 3.01. 

No Security or coupon shall
entitle a Holder 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 applicable Trustee by manual signature of an authorized officer thereof, and
such certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered hereunder
and is entitled to the benefits of this Indenture. Notwithstanding the
foregoing, if any Security shall have been authenticated and delivered hereunder
but never issued and sold by the Company, and the Company shall deliver such
Security to the Trustees for cancellation as provided in Section 3.10 together
with a written statement (which need not comply with Section 1.03 and need not
be accompanied by an Opinion of Counsel) stating that such Security has never
been issued and sold by the Company, for all purposes of this Indenture such
Security shall be deemed never to have been authenticated and delivered
hereunder and shall never entitle a Holder to the benefits of this Indenture.

	SECTION 3.04 	Temporary Securities.

Pending the preparation of
definitive Securities of any series, the Company may execute, and upon Company
Order the applicable 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, in registered
form or, if authorized, in bearer form with one or more coupons or without
coupons, and with such appropriate insertions, omissions, substitutions and
other variations as the Officer executing such Securities may determine, as
conclusively evidenced by their execution of such Securities. Such temporary
Securities may be in global form. 

25 

Except in the case of temporary
Securities in global form (which shall be exchanged in accordance with the
provisions of the following paragraphs), if temporary Securities of any series
are issued, the Company will cause definitive Securities of that series to be
prepared without unreasonable delay. After the preparation of definitive
Securities of such series, the temporary Securities of such series shall be
exchangeable for definitive Securities of such series upon surrender of the
temporary Securities of such series at the office or agency of the Company in a
Place of Payment for that series, without charge to the Holder. Upon surrender
for cancellation of any one or more temporary Securities of any series
(accompanied by any unmatured coupons appertaining thereto), the Company shall
execute and the applicable Trustee shall authenticate and deliver in exchange
therefor a like principal amount of definitive Securities of the same series of
authorized denominations; provided, however, that no definitive Bearer
Security shall be delivered in exchange for a temporary Registered Security;
provided further that a definitive Bearer Security shall be delivered in
exchange for a temporary Bearer Security only in compliance with the conditions
set forth in Section 3.03. Until so exchanged the temporary Securities of any
series shall in all respects be entitled to the same benefits under this
Indenture as definitive Securities of such series. 

If temporary Securities of any
series are issued in global form, any such temporary global Security shall,
unless otherwise provided therein, be delivered to the office of the Depositary
for credit to the respective accounts of the beneficial owners of such
Securities (or to such other accounts as they may direct). 

Without unnecessary delay, but in
any event not later than the date specified in, or determined pursuant to the
terms of, any such temporary global Security (the “Exchange Date”), the
Company shall deliver to the Trustees definitive Securities, in aggregate
principal amount equal to the principal amount of such temporary global
Security, executed by the Company. On or after the Exchange Date, such temporary
global Security shall be surrendered by the Depositary to the Trustees, as the
Company’s agent for such purpose, to be exchanged, in whole or from time to time
in part, for definitive Securities without charge and the applicable Trustee
shall authenticate and deliver, in exchange for each portion of such temporary
global Security, an equal aggregate principal amount of definitive Securities of
the same series of authorized denominations and of like tenor as the portion of
such temporary global Security to be exchanged. The definitive Securities to be
delivered in exchange for any such temporary global Security shall be in bearer
form, registered form, permanent global bearer form or permanent global
registered form, or any combination thereof, as specified as contemplated by
Section 3.01, and, if any combination thereof is so specified, as requested by
the beneficial owner thereof; provided, however, that, unless otherwise
specified in such temporary global Security, upon such presentation by the
Depositary, such temporary global Security is accompanied by a certificate dated
the Exchange Date or a subsequent date and signed by the Depositary as to the
portion of such temporary global Security held for its account then to be
exchanged and a certificate dated the Exchange Date or a subsequent date, each
in the form set forth in Exhibit A-2 to this Indenture (or in such other form as
may be established pursuant to Section 3.01); provided further that
definitive Bearer Securities shall be delivered in exchange for a portion of a
temporary global Security only in compliance with the requirements of Section
3.03. 

Unless otherwise specified in
such temporary global Security, the interest of a beneficial owner of Securities
of a series in a temporary global Security shall be exchanged for definitive
Securities of the same series and of like tenor following the Exchange Date when
the account holder instructs the Depositary to request such exchange on his
behalf and delivers to the Depositary a certificate in the form set forth in
Exhibit A-1 to this Indenture (or in such other form as may be established
pursuant to Section 3.01), dated no earlier than 15 days prior to the Exchange
Date, copies of which certificate shall be available from the offices of the
Depositary, the Trustees, any Authenticating Agent appointed for such series of
Securities and each Paying Agent. Unless otherwise specified in such temporary
global Security, any such exchange shall be made free of charge to the
beneficial owners of such temporary global Security, except that a Person receiving definitive
Securities must bear the cost of insurance, postage, transportation and the like
in the event that such Person does not take delivery of such definitive
Securities in person at the offices of the Depositary. Definitive Securities in
bearer form to be delivered in exchange for any portion of a temporary global
Security shall be delivered only outside the United States. 

26 

Until exchanged in full as
  hereinabove provided, the temporary Securities of any series shall in all
  respects be entitled to the same benefits under this Indenture as definitive
  Securities of the same series and of like tenor authenticated and delivered
  hereunder, except that, unless otherwise specified as contemplated by Section
  3.01, interest payable on a temporary global Security on an Interest Payment
  Date for Securities of such series occurring prior to the applicable Exchange
  Date shall be payable to the Depositary on such Interest Payment Date upon
  delivery by the Depositary to the Trustees of a certificate or certificates in
  the form set forth in Exhibit A-2 to this Indenture (or in such other form as
  may be established pursuant to Section 3.01), for credit without further
  interest thereon on or after such Interest Payment Date to the respective
  accounts of the Persons who are the beneficial owners of such temporary global
  Security on such Interest Payment Date and who have each delivered to the
  Depositary a certificate dated no earlier than 15 days prior to the Interest
  Payment Date occurring prior to such Exchange Date in the form set forth in
  Exhibit A-1 to this Indenture (or in such other form as may be established
  pursuant to Section 3.01) . Notwithstanding anything to the contrary herein
  contained, the certifications made pursuant to this paragraph shall satisfy the
  certification requirements of the preceding two paragraphs of this Section 3.04
  and of the third paragraph of Section 3.03 and the interests of the Persons who
  are the beneficial owners of the temporary global Security with respect to which
  such certification was made will be exchanged for definitive Securities of the
  same series and of like tenor on the Exchange Date or the date of certification
  if such date occurs after the Exchange Date, without further act or deed by such
  beneficial owners. Except as otherwise provided in this paragraph, no payments
  of principal of, premium (if any) or interest (if any) owing with respect to a
  beneficial interest in a temporary global Security will be made unless and until
  such interest in such temporary global Security shall have been exchanged for an
  interest in a definitive Security. Any interest so received by the Depositary
  and not paid as herein provided shall be returned to the Trustees immediately
  prior to the expiration of two years after such Interest Payment Date in order
to be repaid to the Company in accordance with Section 10.03. 

	SECTION 3.05 	Registration, Registration of Transfer and
      Exchange. 

So long as required by Trust
Indenture Legislation, the Company shall cause to be kept at the Corporate Trust
Offices of the Trustees a register for each series of Securities (the registers
maintained in the Corporate Trust Offices of the Trustees and in any other
office or agency of the Company in a Place of Payment being herein sometimes
collectively referred to as the “Central Register”) in which, subject to
such reasonable regulations as it may prescribe, the Company shall provide for
the registration of the Holders of Registered Securities and of transfers of
Registered Securities. The Central Register shall be in written form or any
other form capable of being converted into written form within a reasonable
time. At all reasonable times, the Central Register shall be open to inspection
by the Trustees. The Company will cause the particulars of each such issue,
exchange or transfer of Securities to be recorded in the Central Register. There
shall be two such Central Registers, one for U.S. Securities and one for
Canadian Securities. The Company hereby appoints the Canadian Trustee as the
Central Registrar and Transfer Agent for the Canadian Securities and the U.S.
Trustee as the Central Registrar and Transfer Agent for the U.S. Securities
(collectively, the “Central Securities Registrars”). If permitted by
Trust Indenture Legislation, the Company may appoint a Person other than the
Company or a trust corporation registered under the Trust and Loan Companies
Act, S.C. 1991, c. 45 as the Central Securities Registrar; provided that, no
such removal or replacement shall be effective until a successor Central
Security Registrar with respect to such series of Registered Securities shall
have been appointed by the Company and shall have accepted such appointment by
the Company. In the event that the Trustees shall not be or shall cease to be the Central Securities Registrar with respect to a series of
Securities, they shall have the right to examine the Central Register for such
series at all reasonable times. There shall be only one Central Securities
Register for such series of Securities. 

27 

The Company may, subject to the
  consent of the applicable Trustee, also cause to be maintained a branch register
  (a “Branch Register”) or Branch Registers of Holders of Securities in
  accordance with Section 11.02 in the same manner and containing the same
  information with respect to each entry contained therein as contained in the
  Central Register. A copy of every entry in a Branch Register shall, promptly
  after the entry is made, be transmitted to the Central Security Registrar. If
  there is a conflict between the information contained in the Central Register
  and the information contained in the Branch Register, the information contained
  in the Central Register shall prevail. The Central Register together with each
  Branch Register are collectively referred to herein as the “Security
    Register”. At all reasonable times, the Security Register shall be open to
  inspection by the Trustees. The Company may appoint from time to time one or
  more branch security registrars (“Branch Security Registrars”) and may
  from time to time rescind any such appointment. The Central Security Registrar
  together with each Branch Security Registrar are collectively referred to herein
as the “Security Registrar”. 

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

For Canadian Securities, the
Security must be duly endorsed for transfer or in a duly endorsed transferable
form as applicable and must comply with the current industry practice in
accordance with the Securities Transfer Association of Canada. 

At the option of the Holder,
Registered Securities of any series may be exchanged for other Registered
Securities of the same series, of any authorized denomination and of a like
aggregate principal amount and tenor, upon surrender of the Registered
Securities to be exchanged at such office or agency. Whenever any Registered
Securities are so surrendered for exchange, the Company shall execute, and the
applicable Trustee shall authenticate and deliver, the Registered Securities
which the Holder making the exchange is entitled to receive. Unless otherwise
specified with respect to any series of Securities as contemplated by Section
3.01, Bearer Securities may not be issued in exchange for Registered Securities.
The applicable Trustee shall update the Security Register, or, if the applicable
Trustee is not the Authenticating Agent, the applicable Trustee shall
immediately provide a copy of the new Registered Security to the Central
Registrar so that the Security Register may be updated. 

If (but only if) expressly
permitted in or pursuant to the applicable Board Resolution and (subject to
Section 3.03) set forth in the applicable Officer’s Certificate, or in any
indenture supplemental hereto, delivered as contemplated by Section 3.01, at the
option of the Holder, Bearer Securities of any series may be exchanged for
Registered Securities of the same series of any authorized denomination and of a
like aggregate principal amount and tenor, upon surrender of the Bearer
Securities to be exchanged at the office of the applicable Trustee, with all
unmatured coupons and all matured coupons in default thereto appertaining. If
the Holder of a Bearer Security is unable to produce any such unmatured coupon
or coupons or matured coupon or coupons in default, any such permitted exchange
may be effected if the Bearer Securities are accompanied by payment in funds
acceptable to the Company in an amount equal to the face amount of such missing
coupon or coupons, or the surrender of such missing coupon or coupons may be
waived by the Company and the Trustees if there is furnished to them such
security or indemnity as they may require to save each of them and any Paying
Agent harmless. If thereafter the Holder of such Security shall surrender to any
Paying Agent any such missing coupon in respect of which such a payment shall
have been made, such Holder shall be entitled to receive the amount of such
payment; provided, however, that, except as otherwise provided in
Section 10.02, interest represented by coupons shall be payable only upon
presentation and surrender of those coupons at an office or agency located
outside the United States. Notwithstanding the foregoing, in case a Bearer
Security of any series is surrendered at any such office or agency in a
permitted exchange for a Registered Security of the same series and like tenor
after the close of business at such office or agency on (i) any Regular Record
Date and before the opening of business at such office or agency on the relevant
Interest Payment Date, or (ii) any Special Record Date and before the opening of
business at such office or agency on the related proposed date for payment of
Defaulted Interest, such Bearer Security shall be surrendered without the coupon
relating to such Interest Payment Date or proposed date for payment, as the case
may be, and interest or Defaulted Interest, as the case may be, will not be
payable on such Interest Payment Date or proposed date for payment, as the case
may be, in respect of the Registered Security issued in exchange for such Bearer
Security, but will be payable only to the Holder of such coupon when due in
accordance with the provisions of this Indenture. 

28 

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

Notwithstanding the foregoing,
except as otherwise specified as contemplated by Section 3.01, any permanent
global Security shall be exchangeable only as provided in this paragraph. If any
beneficial owner of an interest in a permanent global Security is entitled to
exchange such interest for Securities of such series and of like tenor and
principal amount of another authorized form and denomination, as contemplated by
Section 3.01 and provided that any applicable notice provided in the permanent
global Security shall have been given to the Company, the Trustees and the
Depositary, then without unnecessary delay but in any event not later than the
earliest date on which such interest may be so exchanged, the Company shall
deliver to the applicable Trustee definitive Securities in aggregate principal
amount equal to the principal amount of such beneficial owner’s interest in such
permanent global Security, executed by the Company. On or after the earliest
date on which such interests may be so exchanged, such permanent global Security
shall be surrendered by the Depositary or such other depositary as shall be
specified in the Company Order with respect thereto to the applicable Trustee,
as the Company’s agent for such purpose, to be exchanged in whole or from time
to time in part, for definitive Securities without charge, and the applicable
Trustee shall authenticate and deliver, in exchange for each portion of such
permanent global Security, an equal aggregate principal amount of definitive
Securities of the same series of authorized denominations and of like tenor as
the portion of such permanent global Security to be exchanged which, unless the
Securities of the series are not issuable both as Bearer Securities and as
Registered Securities, as specified as contemplated by Section 3.01, shall be in
the form of Bearer Securities or Registered Securities, or any combination
thereof, as shall be specified by the beneficial owner thereof. The applicable
Trustee shall promptly provide to the Depository a replacement global Security
in the aggregate principal amount of the global Security not being so exchanged.
The applicable Trustee shall note the exchange on the Security Register. No
Bearer Security delivered in exchange for a portion of a permanent global
Security shall be mailed or otherwise delivered to any location in the United
States. If a Registered Security is issued in exchange for any portion of a
permanent global Security after the close of business at the office or agency
where such exchange occurs on (i) any Regular Record Date and before the opening
of business at such office or agency on the relevant Interest Payment Date, or
(ii) any Special Record Date and before the opening of business at such office
or agency on the related proposed date for payment of Defaulted Interest,
interest or Defaulted Interest, as the case may be, will not be payable on such
Interest Payment Date or proposed date for payment, as the case may be, in
respect of such Registered Security, but will be payable on such Interest
Payment Date or proposed date for payment, as the case may be, only to the
Person to whom interest in respect of such portion of such permanent global
Security is payable in accordance with the provisions of this Indenture. 

29 

Transfers of global Securities
shall be limited to transfers in whole, but not in part, to the Depositary, its
successors or their respective nominees. If at any time the Depositary for
Securities of a series notifies the Company that it is unwilling, unable or no
longer qualifies to continue as Depositary for Securities of such series or if
at any time the Depositary for such series shall no longer be registered or in
good standing under the Exchange Act, or other applicable statute or regulation,
the Company shall appoint a successor Depositary for the Securities of such
series. If a successor to the Depositary for Securities of such series is not
appointed by the Company within 90 days after the Company receives such notice
or becomes aware of such condition, as the case may be, the Company’s election
pursuant to Section 3.01 shall no longer be effective with respect to the
Securities for such series and the Company will execute, and the applicable
Trustee, upon receipt of a Company Order for the authentication and delivery of
definitive Securities of such series, will authenticate and deliver Securities
of such series in definitive, registered form, in authorized denominations, and
in an aggregate principal amount equal to the principal amount of the global
Security or Securities representing such series in exchange for such global
Security or Securities. 

The Company may at any time and
in its sole discretion determine that the Securities of any series issued in the
form of one or more global Securities shall no longer be represented by such
global Security or Securities. In such event the Company will execute, and the
applicable Trustee, upon receipt of a Company Order for the authentication and
delivery of definitive Securities of such series, will authenticate and deliver
Securities of such series in definitive, registered form, in authorized
denominations, and in an aggregate principal amount equal to the principal
amount of the global Security or Securities representing such series in exchange
for such global Security or Securities. 

Interests of a beneficial owner
in global Securities may also be transferred or exchanged for definitive
Securities if, after the occurrence of an Event of Default with respect to such
Securities, and while such Event of Default is continuing, such owner notifies
the Trustees in writing that it wishes to receive a Security in definitive,
registered form and provides to the Trustees evidence reasonably satisfactory to
the Trustees of its ownership interest in such Securities. In such event the
Company will execute, and the applicable Trustee, upon receipt of a Company
Order for the authentication and delivery of definitive Securities of such
series, will authenticate and deliver Securities of such series in definitive,
registered form, in authorized denominations, and in an aggregate principal
amount equal to the principal amount of the global Security or Securities
representing such series in exchange for such global Security or Securities.

Upon the exchange of a global
Security for Securities in definitive registered form, such global Security
shall be cancelled by the applicable Trustee. Securities issued in exchange for
a global Security pursuant to this Section 3.05 shall be registered in such
names and in such authorized denominations as the Depositary for such global
Security, pursuant to instructions from its direct or indirect participants or
otherwise, shall instruct the applicable Trustee in writing. The applicable
Trustee shall deliver such Securities to the Persons in whose names such
Securities are so registered. 

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

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

30 

Any registration of transfer or
exchange of Securities may be subject to service charges by the Central
Securities Registrar and the Company may require payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in connection
with any registration of transfer or exchange of Securities, other than
exchanges pursuant to Section 3.04, 9.06, 11.07 or 13.05 not involving any
transfer. 

The Company shall not be required
(i) to issue, register the transfer of or exchange Securities of any series in
definitive form during a period beginning at the opening of business 15 days
before the day of the selection for redemption of Securities of that series
under Section 11.03 or 12.03 and ending at the close of business on (A) if
Securities of the series are issuable only as Registered Securities, the day of
the mailing of the relevant notice of redemption and (B) if Securities of the
series are issuable as Bearer Securities, the day of the first publication of
the relevant notice of redemption or, (C) if Securities of the series are also
issuable as Registered Securities and there is no publication, the mailing of
the relevant notice of redemption, or (ii) to register the transfer of or
exchange any Registered Security in definitive form so selected for redemption
in whole or in part, except the unredeemed portion of any Security being
redeemed in part, or (iii) to exchange any Bearer Security so selected for
redemption except that such a Bearer Security may be exchanged for a Registered
Security of that series and like tenor; provided that such Registered
Security shall be simultaneously surrendered for redemption, or (iv) to issue,
register the transfer of or exchange any Security in definitive form which has
been surrendered for repayment at the option of the Holder, except the portion,
if any, of such Security not to be so repaid. 

	SECTION 3.06 	Mutilated, Destroyed, Lost and Stolen
      Securities. 

If any mutilated Security or a
Security with a mutilated coupon appertaining to it is surrendered to the
applicable Trustee, the Company shall execute and the applicable Trustee shall
authenticate and deliver in exchange therefor a new Security of the same series
and of like tenor and principal amount and bearing a number not
contemporaneously outstanding, with coupons corresponding to the coupons, if
any, appertaining to the surrendered Security, or, in case any such mutilated
Security or coupon has become or is about to become due and payable, the Company
in its discretion may, instead of issuing a new Security, with coupons
corresponding to the coupons, if any, appertaining to the surrendered Security,
pay such Security or coupon. If there shall be delivered to the Company and to
the Trustees (i) evidence to their satisfaction of the destruction, loss or
theft of any Security or coupon and (ii) such security (or surety in the case of
the Canadian Trustee) or indemnity as may be required by them to save each of
them and any agent of either of them harmless, then, in the absence of notice to
the Company or the Trustees that such Security or coupon has been acquired by a
protected purchaser (as defined in Article 8 of the UCC), the Company shall
execute and upon Company Order the applicable Trustee shall authenticate and
deliver, in lieu of any such destroyed, lost or stolen Security or in exchange
for the Security for which a destroyed, lost or stolen coupon appertains (with
all appurtenant coupons not destroyed, lost or stolen), a new Security of the
same series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding, with coupons corresponding to the coupons, if
any, appertaining to such destroyed, lost or stolen Security or to the Security
to which such destroyed, lost or stolen coupon appertains. 

Notwithstanding the provisions of
the previous two paragraphs, in case any such mutilated, destroyed, lost or
stolen Security or coupon has become or is about to become due and payable, the
Company in its discretion may, instead of issuing a new Security, with coupons
corresponding to the coupons, if any, appertaining to such mutilated, destroyed,
lost or stolen Security or to the Security to which such mutilated, destroyed,
lost or stolen coupon appertains, pay such Security or coupon; provided,
however, that payment of principal of, premium (if any) and interest (if
any) on Bearer Securities shall, except as otherwise provided in Section 10.02,
be payable only at an office or agency located outside the United States and, unless otherwise specified as contemplated
by Section 3.01, any interest on Bearer Securities shall be payable only upon
presentation and surrender of the coupons appertaining thereto. 

31 

Upon the issuance of any new
  Security under this Section 3.06, 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
Trustees) connected therewith. 

Every new Security of any series
with its coupons, if any, issued pursuant to this Section 3.06 in lieu of any
mutilated, destroyed, lost or stolen Security or in exchange for a Security to
which a mutilated, destroyed, lost or stolen coupon appertains, shall constitute
an original additional contractual obligation of the Company, whether or not the
mutilated, destroyed, lost or stolen Security and its coupons, if any, or the
mutilated, destroyed, lost or stolen coupon shall be at any time enforceable by
anyone, and the Holders of such Security shall be entitled to all the benefits
of this Indenture equally and proportionately with the Holders of any and all
other Securities of that series and their coupons, if any, duly issued
hereunder. 

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

	SECTION 3.07 	Payment of Principal, Premium and Interest;
      Interest Rights Preserved; Optional Interest Reset.
  

(a)      
Unless otherwise provided as contemplated by Section 3.01 with respect to any
series of Securities, interest (if any) on any Registered Security which is
payable, and is punctually paid or duly provided for, on any Interest Payment
Date shall be paid by the Paying Agent to the Person in whose name such Security
(or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest at the office or agency of the
Company maintained for such purpose pursuant to Section 10.02; provided,
however, that each installment of interest (if any) on any Registered
Security may at the Company’s option be paid by (i) mailing a check for such
interest, payable to or upon the written order of the Person entitled thereto
pursuant to Section 3.09, to the address of such Person as it appears on the
Security Register or (ii) wire transfer to an account located in the United
States maintained by the payee of a Holder of $2.0 million or more in aggregate
principal amount of such Securities (with wire transfer instructions provided to
the Trustees not less than 15 days prior to payment of interest). The Paying
Agent shall confirm in writing to the Canadian Trustee upon payment having been
made to Holders of Canadian Securities. Unless otherwise provided as
contemplated by Section 3.01 with respect to any series of Securities, principal
and premium (if any) paid in relation to any Security shall be paid to the
Holder of such Security only upon presentation and surrender of such Security at
the office or agency of the Company maintained for such purpose pursuant to
Section 10.02. 

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

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

32 

Any interest on any Registered
  Security of any series which is payable, but is not punctually paid or duly
  provided for, on any Interest Payment Date shall forthwith cease to be payable
  to the Holder on the relevant Regular Record Date by virtue of having been such
  Holder, and such defaulted interest and, if applicable, interest on such
  defaulted interest (to the extent lawful) at the rate specified in the
  Securities of such series (such defaulted interest and, if applicable, interest
  thereon herein collectively called “Defaulted Interest”) must be paid by
  the Company as provided for in either clause (1) or (2), at the Company’s
election: 

	 	(1) 	
      The Company may elect to make payment of any Defaulted
      Interest to the Persons in whose names the Registered Securities of such
      series (or their respective Predecessor Securities) are registered at the
      close of business on a Special Record Date for the payment of such
      Defaulted Interest, which shall be fixed in the following manner. The
      Company shall notify the Trustees in writing of the amount of Defaulted
      Interest proposed to be paid on each Registered Security of such series
      and the date of the proposed payment, and at the same time the Company
      shall deposit with the applicable Trustee an amount of money in the
      Currency in which the Securities of such series are payable (except as
      otherwise specified pursuant to Section 3.01 for the Securities of such
      series and except, if applicable, as provided in Sections 3.12(b), 3.12(d)
      and 3.12(e)) equal to the aggregate amount proposed to be paid in respect
      of such Defaulted Interest or shall make arrangements satisfactory to the
      Trustees for such deposit on or prior to the date of the proposed payment,
      such money when deposited to be held in trust for the benefit of the
      Persons entitled to such Defaulted Interest as in this clause provided.
      Thereupon the Trustees shall fix a Special Record Date for the payment of
      such Defaulted Interest which shall be not more than 15 days and not less
      than 10 days prior to the date of the proposed payment and not less than
      10 days after the receipt by the Trustees of the notice of the proposed
      payment. The Trustees shall promptly notify the Company of such Special
      Record Date and, in the name and at the expense of the Company, shall
      cause notice of the proposed payment of such Defaulted Interest and the
      Special Record Date therefor to be given in the manner provided in Section
      1.07, not less than 10 days prior to such Special Record Date. Notice of
      the proposed payment of such Defaulted Interest and the Special Record
      Date therefor having been so given, such Defaulted Interest shall be paid
      to the Persons in whose name the Registered Securities of such series (or
      their respective Predecessor Securities) are registered at the close of
      business on such Special Record Date and shall no longer be payable
      pursuant to the following clause (2).

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

(b)      
The provisions of this Section 307(b) may be made applicable to any series of
Securities pursuant to Section 3.01 (with such modifications, additions or
substitutions as may be specified pursuant to such Section 3.01) . The interest
rate (or the spread or spread multiplier used to calculate such interest rate,
if applicable) on any Security of such series may be reset by the Company on the
date or dates specified on the face of such Security (each an “Optional Reset
Date”). The Company may exercise such option with respect to such Security by notifying the
Trustees of such exercise at least 50 but not more than 60 days prior to an
Optional Reset Date for such Security. Not later than 40 days prior to each
Optional Reset Date, the Trustees shall transmit, in the manner provided for in
Section 1.07, to the Holder of any such Security a notice (the “Reset
Notice”) indicating whether the Company has elected to reset the interest
rate (or the spread or spread multiplier used to calculate such interest rate,
if applicable), and if so (i) such new interest rate (or such new spread or
spread multiplier, if applicable) and (ii) the provisions, if any, for
redemption during the period from such Optional Reset Date to the next Optional
Reset Date or if there is no such next Optional Reset Date, to the Stated
Maturity of such Security (each such period a “Subsequent Interest
Period”), including the date or dates on which or the period or periods
during which and the price or prices at which such redemption may occur during
the Subsequent Interest Period. 

 33 

Notwithstanding the foregoing,
  not later than 20 days prior to the Optional Reset Date, the Company may, at its
  option, revoke the interest rate (or the spread or spread multiplier used to
  calculate such interest rate, if applicable) provided for in the Reset Notice
  and establish an interest rate (or the spread or spread multiplier, if
  applicable) that is higher than the interest rate (or the spread or spread
  multiplier, if applicable) provided for in the Reset Notice, for the Subsequent
  Interest Period by causing the Trustees to transmit, in the manner provided for
  in Section 1.07, notice of such higher interest rate (or such higher spread or
  spread multiplier, if applicable) to the Holder of such Security. Such notice
  shall be irrevocable. All Securities with respect to which the interest rate (or
  the spread or spread multiplier used to calculate such interest rate, if
  applicable) is reset on an Optional Reset Date, and with respect to which the
  Holders of such Securities have not tendered such Securities for repayment (or
  have validly revoked any such tender) pursuant to the next succeeding paragraph,
  will bear such higher interest rate (or such higher spread or spread multiplier,
if applicable). 

The Holder of any such Security
will have the option to elect repayment by the Company of the principal of such
Security on each Optional Reset Date at a price equal to the principal amount
thereof plus interest accrued to such Optional Reset Date. In order to obtain
repayment on an Optional Reset Date, the Holder must follow the procedures set
forth in Article Thirteen for repayment at the option of Holders except that the
period for delivery or notification to the Trustees shall be at least 25 but not
more than 35 days prior to such Optional Reset Date and except that, if the
Holder has tendered any Security for repayment pursuant to the Reset Notice, the
Holder may, by written notice to the Trustees, revoke such tender or repayment
until the close of business on the tenth day before such Optional Reset Date.

Subject to the foregoing
provisions of this Section 3.07 and Section 3.05, each Security delivered under
this Indenture upon registration of transfer of or in exchange for or in lieu of
any other Security shall carry the rights to interest accrued and unpaid, and to
accrue, which were carried by such other Security. 

	SECTION 3.08 	Optional Extension of Stated Maturity.
    

The provisions of this Section
3.08 may be made applicable to any series of Securities pursuant to Section 3.01
(with such modifications, additions or substitutions as may be specified
pursuant to such Section 3.01) . The Stated Maturity of any Security of such
series may be extended at the option of the Company for the period or periods
specified on the face of such Security (each an “Extension Period”) up to
but not beyond the date (the “Final Maturity”) set forth on the face of
such Security. The Company may exercise such option with respect to any Security
by notifying the Trustees of such exercise at least 50 but not more than 60 days
prior to the Stated Maturity of such Security in effect prior to the exercise of
such option (the “Original Stated Maturity”). If the Company exercises
such option, the Trustees shall transmit, in the manner provided for in Section
1.07, to the Holder of such Security not later than 40 days prior to the
Original Stated Maturity a notice (the “Extension Notice”) indicating
(i) the election of the Company to extend the Stated Maturity,
(ii) the new Stated Maturity, (iii) the interest rate (if any) applicable to the
Extension Period and (iv) the provisions, if any, for redemption during such
Extension Period. Upon the Trustees’ transmittal of the Extension Notice, the
Stated Maturity of such Security shall be extended automatically and, except as
modified by the Extension Notice and as described in the next paragraph, such
Security will have the same terms as prior to the transmittal of such Extension
Notice. 

34 

Notwithstanding the foregoing,
  not later than 20 days before the Original Stated Maturity of such Security, the
  Company may, at its option, revoke the interest rate provided for in the
  Extension Notice and establish a higher interest rate for the Extension Period
  by causing the Trustees to transmit, in the manner provided for in Section 1.07,
  notice of such higher interest rate to the Holder of such Security. Such notice
  shall be irrevocable. All Securities with respect to which the Stated Maturity
is extended will bear such higher interest rate. 

If the Company extends the
Maturity of any Security, the Holder will have the option to elect repayment of
such Security by the Company on the Original Stated Maturity at a price equal to
the principal amount thereof, plus interest accrued to such date. In order to
obtain repayment on the Original Stated Maturity once the Company has extended
the Maturity thereof, the Holder must follow the procedures set forth in Article
Thirteen for repayment at the option of Holders, except that the period for
delivery or notification to the Trustees shall be at least 25 but not more than
35 days prior to the Original Stated Maturity and except that, if the Holder has
tendered any Security for repayment pursuant to an Extension Notice, the Holder
may by written notice to the Trustees revoke such tender for repayment until the
close of business on the tenth day before the Original Stated Maturity. 

	SECTION 3.09 	Persons Deemed Owners.

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

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

The Depositary for Securities may
be treated by the Company, the Trustees, and any agent of the Company or the
Trustees as the owner of such global Security for all purposes whatsoever. None
of the Company, the Trustees, any Paying Agent or the Security Registrar will
have any responsibility or liability for any aspect of the records relating to
or payments made on account of beneficial ownership interests of a Security in
global form or for maintaining, supervising or reviewing any records relating to
such beneficial ownership interests. 

Notwithstanding the foregoing,
with respect to any global Security, nothing herein shall prevent the Company,
the Trustees, or any agent of the Company or the Trustees, from giving effect to
any written certification, proxy or other authorization furnished by any
Depositary, as a Holder, with respect to such global Security or impair, as between such Depositary
and owners of beneficial interests in such global Security, the operation of
customary practices governing the exercise of the rights of such Depositary (or
its nominee) as Holder of such global Security. 

35 

	SECTION 3.10 	Cancellation. 

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

	SECTION 3.11 	Computation of Interest.

Except as otherwise specified as
contemplated by Section 3.01 with respect to any Securities, interest (if any)
on the Securities of each series shall be computed on the basis of a 360-day
year of twelve 30-day months. For the purposes of disclosure under the Interest
Act (Canada), the yearly rate of interest to which interest calculated under a
Security for any period in any calendar year (the “calculation period”)
is equivalent, is the rate payable under a Security in respect of the
calculation period multiplied by a fraction the numerator of which is the actual
number of days in such calendar year and the denominator of which is the actual
number of days in the calculation period.

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

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

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

36 

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

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

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

37 

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

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

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

A “Component Currency”
shall mean any Currency which, on the Conversion Date, was a component currency
of the relevant currency unit, including, but not limited to, the Euro. 

A “Specified Amount” of a
Component Currency shall mean the number of units of such Component Currency or
fractions thereof which were represented in the relevant currency unit,
including, but not limited to, the Euro, on the Conversion Date. If after the
Conversion Date the official unit of any Component Currency is altered by way of
combination or subdivision, the Specified Amount of such Component Currency
shall be divided or multiplied in the same proportion. If after the Conversion
Date two or more Component Currencies are consolidated into a single currency,
the respective Specified Amounts of such Component Currencies shall be replaced
by an amount in such single Currency equal to the sum of the respective
Specified Amounts of such consolidated Component Currencies expressed in such
single Currency, and such amount shall thereafter be a Specified Amount and such
single Currency shall thereafter be a Component Currency. If after the
Conversion Date any Component Currency shall be divided into two or more
currencies, the Specified Amount of such Component Currency shall be replaced by
amounts of such two or more currencies, having an aggregate Dollar Equivalent
value at the Market Exchange Rate on the date of such replacement equal to the
Dollar Equivalent value of the Specified Amount of such former Component
Currency at the Market Exchange Rate immediately before such division and such
amounts shall thereafter be Specified Amounts and such currencies shall
thereafter be Component Currencies. If, after the Conversion Date of the
relevant currency unit, including, but not limited to, the Euro, a Conversion
Event (other than any event referred to above in this definition of
“Specified Amount”) occurs with respect to any Component Currency of such
currency unit and is continuing on the applicable Valuation Date, the Specified
Amount of such Component Currency shall, for purposes of calculating the Dollar
Equivalent of the Currency Unit, be converted into Dollars at the Market
Exchange Rate in effect on the Conversion Date of such Component Currency. 

“Election Date” shall mean
the date for any series of Registered Securities as specified pursuant to clause
(15) of Section 3.01 by which the written election referred to in paragraph (b)
above may be made. 

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

38 

In the event that the Company
determines in good faith that a Conversion Event has occurred with respect to a
Foreign Currency, the Company will immediately give written notice thereof to
the Trustees and to the Exchange Rate Agent (and the Trustees will promptly
thereafter give notice in the manner provided for in Section 1.07 to the
affected Holders) specifying the Conversion Date. In the event the Company so
determines that a Conversion Event has occurred with respect to the Euro or any
other currency unit in which Securities are denominated or payable, the Company
will immediately give written notice thereof to the Trustees and to the Exchange
Rate Agent (and the Trustees will promptly thereafter give notice in the manner
provided for in Section 1.07 to the affected Holders) specifying the Conversion
Date and the Specified Amount of each Component Currency on the Conversion Date.
In the event the Company determines in good faith that any subsequent change in
any Component Currency as set forth in the definition of Specified Amount above
has occurred, the Company will similarly give written notice to the Trustees and
the Exchange Rate Agent. 

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

	SECTION 3.13 	Appointment and Resignation of Successor
      Exchange Rate Agent. 

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

(b)      
The Company shall have the right to remove and replace from time to time the
Exchange Rate Agent for any series of Securities. No resignation of the Exchange
Rate Agent and no appointment of a successor Exchange Rate Agent pursuant to
this Section 3.13 shall become effective until the acceptance of appointment by
the successor Exchange Rate Agent as evidenced by a written instrument delivered
to the Company and the Trustees. 

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

39 

ARTICLE FOUR
SATISFACTION AND DISCHARGE 

	SECTION 4.01 	Satisfaction and Discharge of Indenture.
    

This Indenture shall upon Company
Request cease to be of further effect with respect to any series of Securities
specified in such Company Request (except as to any surviving rights of
registration of transfer or exchange of Securities of such series expressly
provided for herein or pursuant hereto and the rights of Holders of such series
of Securities and any related coupons to receive, solely from the trust fund
described in subclause (b) of clause (1) of this Section 4.01, payments in
respect of the principal of, premium (if any) and interest (if any) on such
Securities and any related coupons when such payments are due and except as
provided in the last paragraph of this Section 4.01) and the Trustees, at the
expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture as to such series when 

	 	(1) 	
      either

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

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

	 	(i) 	
      have become due and payable, or

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

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

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

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

40 

	 	(3) 	
      the Company has delivered to the Trustees an Officer’s
      Certificate and an Opinion of Counsel, each stating that all conditions
      precedent herein provided for relating to the satisfaction and discharge
      of this Indenture as to such series have been complied
  with.

Notwithstanding the satisfaction
and discharge of this Indenture, the obligations of the Company to the Trustees
under Section 6.07, the obligations of the Trustees to any Authenticating Agent
under Section 6.12 and, if money shall have been deposited with the Trustees
pursuant to subclause (b) of clause (1) of this Section 4.01, the obligations of
the Trustees under Section 4.02 and the last paragraph of Section 10.03 shall
survive. 

	SECTION 4.02 	Application of Trust Money.
  

Subject to the provisions of the
last paragraph of Section 10.03, all money deposited with the Trustees pursuant
to Section 4.01 shall be held in trust and applied by it, in accordance with the
provisions of the Securities, the coupons and this Indenture, to the payment,
either directly or through any Paying Agent (including the Company acting as its
own Paying Agent) as the Trustees may determine, to the Persons entitled
thereto, of the principal, premium (if any) and interest (if any) for whose
payment such money has been deposited with the Trustees; but such money need not
be segregated from other funds except to the extent required by law. 

ARTICLE FIVE
REMEDIES 

	SECTION 5.01 	Events of Default. 

“Event of Default,”
wherever used herein with respect to Securities of any series, means any one of
the following events (whatever the reason for such Event of Default and whether
it shall be voluntary or involuntary or be effected by operation of law or
pursuant to any judgment, decree or order of any court or any order, rule or
regulation of any administrative or governmental body), unless such event is
specifically deleted or modified in or pursuant to a supplemental indenture,
Board Resolution or Officer’s Certificate establishing the terms of such series
pursuant to Section 3.01 of this Indenture: 

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

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

	 	 	 
	 	(3) 	
      default in the deposit of any sinking fund, amortization
      or analogous payment when due by the terms of any Security of that series
      and Article Twelve; or

	 	 	 
	 	(4) 	
      default in the performance, or breach, of any covenant or
      agreement of the Company in this Indenture which affects or is applicable
      to the Securities of that series (other than a covenant or agreement, a
      default in whose performance or whose breach is elsewhere in this Section
      5.01 specifically dealt with), and continuance of such default or breach
      for a period of 60 days after there has been given (and 120 days with
      respect to a default or breach under Section 703), by registered or
      certified mail, to the Company by the Trustees or to the Company and the
      Trustees by the Holders of at least 25% in principal amount of all
      Outstanding Securities of that series a written notice specifying
    such default or breach and requiring it to be remedied and stating
that such notice is a “Notice of Default” hereunder; or 

41 

	 	(5) 	
      the entry of a decree or order by a court having
      jurisdiction in the premises adjudging the Company bankrupt or insolvent,
      or approving as properly filed a petition seeking reorganization,
      arrangement, adjustment or composition of or in respect of the Company
      under or subject to the Bankruptcy and Insolvency Act (Canada), the
      Companies’ Creditors Arrangement Act (Canada), the U.S. Federal Bankruptcy
      Code or any other federal, provincial, state or foreign bankruptcy,
      insolvency or analogous laws, or the issuance of a sequestration order or
      the (appointment of a receiver, liquidator, assignee, trustee,
      sequestrator (or other similar official) of the Company or in receipt of
      any substantial part of the property of the Company, and any such decree,
      order or appointment continues unstayed and in effect for a period of 90
  consecutive days; or

	 	 	 
	 	(6) 	
      the institution by the Company of proceedings to be
      adjudicated bankrupt or insolvent, or the consent by it to the institution
      of bankruptcy or insolvency proceedings against it, or the filing by it of
      a petition or answer or consent seeking reorganization or relief under or
      subject to the Bankruptcy and Insolvency Act (Canada), the Companies’
      Creditors Arrangement Act (Canada), the U.S. Federal Bankruptcy Code or
      any other federal, provincial, state or foreign bankruptcy, insolvency or
      analogous laws or the consent by it to the filing of any such petition or
      to the appointment of a receiver, liquidator, assignee, trustee,
      sequestrator (or other similar official) of the Company or of any
      substantial part of its property, or the making by it of a general
      assignment for the benefit of creditors, or the admission by it in writing
      of its inability to pay its debts generally as they become due or the
      taking by it of corporate action in furtherance of any of the aforesaid
      purposes; or

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

	SECTION 5.02 	Acceleration of Maturity; Rescission and
      Annulment. 

If an Event of Default described
in clause (1), (2), (3), (4) or (7) of Section 5.01 with respect to Securities
of any series at the time Outstanding occurs and is continuing, then in every
such case, either Trustee or the Holders of not less than 25% in principal
amount of the Outstanding Securities of that series, may declare the principal
amount (or, if the Securities of that series are Original Issue Discount
Securities or Indexed Securities, such portion of the principal amount as may be
specified in the terms of that series) of all of the Securities of that series
and all interest thereon to be due and payable immediately, by a notice in
writing to the Company (and to the Trustees if given by Holders), and upon any
such declaration such principal amount (or specified portion thereof) shall
become immediately due and payable. If an Event of Default specified in clause
(5) or (6) of Section 5.01 occurs and is continuing, then the principal amount
of all the Securities shall ipso facto become and be immediately due and payable
without any declaration or other act on the part of the Trustees or any Holder.

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

	 	(1) 	
      the Company has paid or deposited with either Trustee a
      sum sufficient to pay in the Currency in which the Securities of such
      series are payable (except as otherwise specified pursuant to Section 3.01 for the Securities of such series and
except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e)),

42 

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

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

	 	 	 
	 	(c) 	
      to the extent that payment of such interest is legally
      enforceable, interest on overdue interest at the rate or rates prescribed
      therefor in such Securities, and

	 	 	 
	 	(d) 	
      all sums paid or advanced by the Trustees hereunder and
      the reasonable compensation, expenses, disbursements and advances of the
Trustees, their agents and counsel; and

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

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

	SECTION 5.03 	Collection of Debt and Suits for Enforcement
      by Trustees. 

The Company covenants that if

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

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

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

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

43 

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

	SECTION 5.04 	Trustees 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, each Trustee (irrespective of whether the
principal of the Securities shall then be due and payable as therein expressed
or by declaration or otherwise and irrespective of whether either Trustee shall
have made any demand on the Company for the payment of overdue principal,
premium (if any) or interest) shall be entitled and empowered, by intervention
in such proceeding or otherwise, 

	 	(i) 	
      to file and prove a claim for the whole amount of
      principal and premium (if any), or such portion of the principal amount of
      any series of Original Issue Discount Securities or Indexed Securities as
      may be specified in the terms of such series, and interest (if any) owing
      and unpaid in respect of the Securities and to file such other papers or
      documents as may be necessary or advisable in order to have the claims of
      such Trustee (including any claim for the reasonable compensation,
      expenses, disbursements and advances of such Trustee, its agents and
      counsel) and of the Holders allowed in such judicial proceeding,
  and

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

and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or other similar official in any such judicial proceeding is hereby
authorized by each Holder to make such payments to such Trustee and, in the
event that such Trustee shall consent to the making of such payments directly to
the Holders, to pay to such Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of each Trustee, its agents
and counsel, and any other amounts due to such Trustee under Section 6.07. 

Nothing herein contained shall be
deemed to authorize the Trustees 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 Trustees to vote in respect of the claim of any Holder in any such
proceeding. 

	SECTION 5.05 	Trustees May Enforce Claims Without
      Possession of Securities. 

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

44 

	SECTION 5.06 	Application of Money Collected.
  

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

First:    to the
payment of all amounts due the Trustees under Section 6.07; 

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

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

	SECTION 5.07 	Limitation on Suits.

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

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

	 	 	 
	 	(2) 	
      the Holders of not less than 25% in principal amount of
      the Outstanding Securities of that series in the case of any Event of
      Default described in clause (1), (2), (3), (4) or (7) of Section 5.01, or,
      in the case of any Event of Default described in clause (5) or (6) of
      Section 5.01, the Holders of not less than 25% in principal amount of all
      Outstanding Securities, shall have made written request to the Trustees to
      institute proceedings in respect of such Event of Default in their own
      names as Trustees hereunder;

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

	 	 	 
	 	(4) 	
      the Trustees for 60 days after their receipt of such
      notice, request and offer of indemnity have failed to institute any such
      proceeding; and

	 	 	 
	 	(5) 	
      no direction inconsistent with such written request has
      been given to the Trustees during such 60-day period by the Holders of a
      majority or more in principal amount of the Outstanding Securities of that
      series in the case of any Event of Default described in clause (1), (2),
      (3), (4) or (7) of Section 5.01, or in the case of any Event of Default
      described in clause (5) or (6) of Section 5.01, by the Holders of a
      majority or more in principal amount of all Outstanding
  Securities;

it being understood and intended that no one or more of such
Holders shall have any right in any manner whatever by virtue of, or by availing
of, any provision of this Indenture to affect, disturb or prejudice the rights
of any other Holders of Securities of the same series, in the case of any Event
of Default described in clause (1), (2), (3), (4) or (7) of Section 5.01, or of
Holders of all Securities in the case of any Event of Default described in clause (5) or (6) of Section 5.01, or to
obtain or to seek to obtain priority or preference over any other of such
Holders or to enforce any right under this Indenture, except in the manner
herein provided and for the equal and ratable benefit of all Holders of
Securities of the same series, in the case of any Event of Default described in
clause (1), (2), (3), (4) or (7) of Section 5.01, or of Holders of all
Securities in the case of any Event of Default described in clause (5) or (6) of
Section 5.01. 

45 

	SECTION 5.08 	Unconditional Right of Holders to Receive
Principal, Premium and Interest. 

Notwithstanding any other
provision in this Indenture, the Holder of any Security shall have the right,
which is absolute and unconditional, to receive payment, as provided herein
(including, if applicable, Article Fourteen) and in such Security, of the
principal of and premium (if any) and (subject to Section 3.07) interest (if
any) on, such Security or payment of such coupon on the respective Stated
Maturities expressed in such Security or coupon (or, in the case of redemption,
on the Redemption Date or, in the case of repayment at the option of the Holder
as contemplated by Article Twelve, on the Repayment Date) and subject to the
limitations on a Holder’s ability to institute suit contained Section 5.07, to
institute suit for the enforcement of any such payment, and such rights shall
not be impaired without the consent of such Holder. 

	SECTION 5.09 	Restoration of Rights and Remedies.
  

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

	SECTION 5.10 	Rights and Remedies Cumulative.
  

Except as otherwise provided with
respect to the replacement or payment of mutilated, destroyed, lost or stolen
Securities or coupons in the last paragraph of Section 3.06, no right or remedy
herein conferred upon or reserved to the Trustees or to the Holders of
Securities or coupons is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative
and in addition to every other right and remedy given hereunder or now or
hereafter existing at law or in equity or otherwise. The assertion or employment
of any right or remedy hereunder, or otherwise, shall not, to the extent
permitted by law, prevent the concurrent assertion or employment of any other
appropriate right or remedy. 

	SECTION 5.11 	Delay or Omission Not Waiver.
  

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

	SECTION 5.12 	Control by Holders. 

With respect to the Securities of
any series, the Holders of not less than a majority in principal amount of the
Outstanding Securities of such series shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to
the Trustees, or exercising any trust or power conferred on the Trustees,
relating to or arising under clause (1), (2), (3), (4) or (7) of Section 5.01,
and, with respect to all Securities, the Holders of not less than a majority in
principal amount of all Outstanding Securities shall have the right to direct
the time, method and place of conducting any proceeding for any remedy available
to the Trustees, or exercising any trust or power conferred on the Trustees, not
relating to or arising under clause (1), (2), (3), (4) or (7) of Section 5.01,
provided that in each case 

46 

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

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

	 	 	 
	 	(3) 	
      the Trustees need not take any action which might involve
      them in personal liability or be unjustly prejudicial to the Holders of
Securities of such series not consenting.

	SECTION 5.13 	Waiver of Past Defaults.

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

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

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

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

	SECTION 5.14 	Waiver of Stay or Extension 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 wherever enacted, now or at any time hereafter in
force, which may affect the covenants or the performance of this Indenture; and
the Company (to the extent that it may lawfully do so) hereby expressly waives
all benefit or advantage of any such law and covenants that it will not hinder,
delay or impede the execution of any power herein granted to the Trustees, but
will suffer and permit the execution of every such power as though no such law
had been enacted. 

	SECTION 5.15 	Undertaking for Costs.

In any suit for the enforcement
of any right or remedy under this Indenture, or in any suit against either
Trustee for any action taken, suffered or omitted by it as Trustee, a court may
require any party litigant in such suit to file an undertaking to pay the costs
of such suit, and may assess costs against any such party litigant, in the
manner and to the extent provided in Trust Indenture Legislation; provided,
however, that neither this Section 5.15 nor the provisions of TIA Section
315(e) shall apply to any suit instituted by either Trustee or by any Holder or
group of Holders holding more than 10% in principal amount of all Outstanding
Securities or by any Holder of any Security on any suit for the enforcement of
the right to receive the principal of and interest on any such Securities. 

47 

ARTICLE SIX
THE TRUSTEES 

	SECTION 6.01 	Notice of Defaults. 

Each Trustee shall promptly give
the other Trustee notice of any Default or Event of Default known to it. Within
a reasonable time, but no more than 30 days after either Trustee has knowledge
of any Default hereunder with respect to the Securities of any series, one or
both of the Trustees shall transmit in the manner and to the extent provided in
Trust Indenture Legislation, including TIA Section 313(c), notice to the Holders
of such Default hereunder known to either Trustee, unless such Default shall
have been cured or waived (and, in the case where such Default shall have been
cured, the Trustees shall notify the Holders in writing of such cure in writing
within a reasonable time, but not exceeding 30 days, after the Trustees have
become aware that the Default has been cured); provided, however, that,
except in the case of a Default in the payment of the principal of, premium (if
any) or interest (if any) on any Security of such series or in the payment of
any sinking fund installment with respect to Securities of such series, the
Trustees shall be protected in withholding such notice if and so long as the
board of directors, the executive committee or a trust committee of directors
and/or Responsible Officers of each Trustee in good faith determine that the
withholding of such notice is in the interest of the Holders of Securities of
such series and any related coupons; provided further that in the case of
any Default of the character specified in clause (4) of Section 5.01 with
respect to Securities of such series, no such notice to Holders shall be given
until at least 30 days after the occurrence thereof. 

	SECTION 6.02 	Certain Duties and Responsibilities of
      Trustees. 

(a)      
The Trustees, prior to the occurrence of an Event of Default and after the
curing of all Events of Default that may have occurred, shall undertake to
perform with respect to the Securities of any series such duties and only such
duties as are specifically set forth in this Indenture, and no implied covenants
shall be read into this Indenture against the Trustees. 

(b)      
In all instances, in the exercise of the powers, rights, duties and discharge of
obligations prescribed or conferred by the terms of this Indenture, each Trustee
shall act honestly and in good faith with a view to the best interests of the
Holders and exercise that degree of care, diligence and skill that a reasonably
prudent trustee in respect of indentures for the purpose of issuing corporate
debt obligations would exercise in comparable circumstances. 

(c)      
No provision of this Indenture shall be construed to relieve each Trustee from
liability for its own actions or failure to act in accordance with Subsection
6.02(b), except that: 

	 	(i) 	
      prior to the occurrence of an Event of Default and after
      the curing or waiving of all such Events of Default that may have
      occurred:

	 	(A) 	
      the duties and obligations of each Trustee with respect
      to the Securities of any series shall be determined solely by the express
      provisions of this Indenture, and the Trustees shall not be liable except
      for the performance of such duties and obligations as are specifically set forth in
this Indenture, and no implied covenants or obligations shall be read into this
Indenture against the Trustees; and 

48 

	 	(B) 	
      in the absence of bad faith on the part of either
      Trustee, such Trustee may conclusively rely, as to the truth of the
      statements and the correctness of the opinions expressed therein, upon any
      certificates or opinions furnished to the Trustees and conforming to the
      requirements of this Indenture and Trust Indenture Legislation; but in the
      case of any such certificates or opinions that by any provision hereof are
      specifically required to be furnished to the Trustees, the Trustees shall
      be under a duty to examine the same to determine whether or not they
      conform to the requirements of this Indenture; provided, however,
      the Canadian Trustee shall not be required to determine whether the
      certificates or opinions presented to it conform to the Trust Indenture
      Act and the U.S. Trustee shall not be required to determine whether the
      certificates or opinions presented to it conform to Canadian Trust
Indenture Legislation.

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

	 	 	 
	 	(iii) 	
      none of the provisions contained in this Indenture shall
      require either Trustee to expend or risk their own funds or otherwise
      incur personal or any financial liability in the performance of any of
      their duties or in the exercise of any of their rights or powers;
    and

	 	 	 
	 	(iv) 	
      whether or not therein expressly so provided, except to
      the extent expressly provided herein to the contrary, every provision of
      this Indenture relating to the conduct or effecting the liability or
      affording protection to the Trustees shall be subject to the provisions of
      this Section 6.02.

(d)      Notwithstanding the
provisions of this Section 6.02 or any provision in this Indenture or in the
Securities, the Trustees will not be charged with knowledge of the existence of
any Event of Default or any other fact that would prohibit the making of any
payment of monies to or by the Trustees, or the taking of any other action by
the Trustees, unless and until the Trustees have received written notice thereof
from the Company or any Holder. 

	SECTION 6.03 	Certain Rights of Trustees.
  

Subject to the provisions of TIA
Sections 315(a) through 315(d): 

	 	(1) 	
      the Trustees may rely and shall be protected in acting or
      refraining from acting upon any resolution, certificate, statement,
      instrument, opinion, report, notice, request, direction, consent, order,
      bond, debenture, note, other evidence of indebtedness or other paper or
      document believed by them to be genuine and to have been signed or
      presented by the proper party or parties;

49 

	 	(2) 	
      any request or direction of the Company mentioned herein
      shall be sufficiently evidenced by a Company Request or Company Order and
      any resolution of the Board of Directors may be sufficiently evidenced by
      a Board Resolution;

	 	 	 
	 	(3) 	
      whenever in the administration of this Indenture the
      Trustees shall deem it desirable that a matter be proved or established
      prior to taking, suffering or omitting any action hereunder, each Trustee
      (unless other evidence be herein specifically prescribed) may, in the
      absence of bad faith on its part, rely upon an Officer’s
    Certificate;

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

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

	 	 	 
	 	(6) 	
      the Trustees 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 Trustees, in their discretion, may make
      such further inquiry or investigation into such facts or matters as they
      may see fit, and, if the Trustees shall determine to make such further
      inquiry or investigation, they shall be entitled to examine the books,
      records and premises of the Company, personally or by agent or
      attorney;

	 	 	 
	 	(7) 	
      in an Event of Default, the Trustees’ powers shall not be
      infringed upon so long as they act in accordance with Section
    6.02(b);

	 	 	 
	 	(8) 	
      the Trustees 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 Trustees shall not be responsible for any
      misconduct or negligence on the part of any agent or attorney appointed
      with due care by them hereunder; and

	 	 	 
	 	(9) 	
      the Trustees shall not be liable for any action taken,
      suffered or omitted by them in good faith and believed by them to be
      authorized or within the discretion or rights or powers conferred upon
      them by this Indenture, so long as they act in accordance with this
      Section 6.02(b).

	SECTION 6.04 	Trustees Not Responsible for Recitals or
      Issuance of Securities. 

The recitals contained herein and
in the Securities, except for a Trustee’s certificate of authentication, and in
any coupons shall be taken as the statements of the Company, and neither Trustee
nor any Authenticating Agent assumes any responsibility for their correctness.
The Trustees make no representations as to the validity or sufficiency of this
Indenture or of the Securities or coupons, except that the Trustees represent
that they are duly authorized to execute and deliver this Indenture,
authenticate the Securities and perform their obligations hereunder and that the
statements made by the U.S. Trustee in a Statement of Eligibility on Form T-1
supplied to the Company are true and accurate, subject to the qualifications set
forth therein. Neither Trustee nor any Authenticating Agent shall be accountable
for the use or application by the Company of Securities or the proceeds
thereof. Nothing herein contained will impose on either Trustee any obligation
to see to, or to require evidence of, the registration or filing (or renewal
thereof) of this Indenture or any supplemental indenture. The Trustees shall not
be bound to give notice to any person of the execution hereof. 

50 

	SECTION 6.05 	May Hold Securities.

The Trustees, any Authenticating
Agent, any Paying Agent, any Security Registrar or any other agent of the
Company or of the Trustees, in their individual or any other capacity, may
become the owner or pledgee of Securities and coupons and, subject to TIA
Sections 310(b) and 311, may otherwise deal with the Company, including, without
limitation, as a creditor of the Company, with the same rights they would have
if they were not Trustees, Authenticating Agent, Paying Agent, Security
Registrar or such other agent. A Trustee that has resigned or is removed shall
remain subject to TIA Section 311(a) to the extent provided therein. 

	SECTION 6.06 	Money Held in Trust.

Money held by the Trustees in
trust hereunder need not be segregated from other funds except to the extent
required by law. The Trustees shall be under no liability for interest on any
money received by them hereunder except as otherwise agreed with the Company.

	SECTION 6.07 	Compensation and Reimbursement.
  

The Company agrees: 

	 	(1) 	
      to pay to the Trustees from time to time reasonable
      compensation for all services rendered by them hereunder (which
      compensation shall not be limited by any provision of law in regard to the
      compensation of a trustee of an express trust);

	 	 	 
	 	(2) 	
      except as otherwise expressly provided herein, to
      reimburse the Trustees upon their request for all reasonable expenses,
      disbursements and advances incurred or made by the Trustees in accordance
      with any provision of this Indenture (including the reasonable
      compensation and the expenses and disbursements of their agents and
      counsel), except any such expense, disbursement or advance as may be
      attributable to the U.S. Trustee’s gross negligence or bad faith or the
      Canadian Trustee’s gross negligence or willful misconduct, respectively;
      and

	 	 	 
	 	(3) 	
      to indemnify the Trustees for, and to hold them and their
      directors, officers, agents, representatives, successors, assigns and
      employees harmless against, any loss, liability or expense incurred
      without gross negligence or bad faith on the part of the U.S. Trustee, or
      gross negligence or willful misconduct on the part of the Canadian
      Trustee, respectively, arising out of or in connection with the acceptance
      or administration of the trust or trusts hereunder, including reasonable
      attorneys’ fees and other reasonable costs and expenses of defending
      themselves against any claim or liability in connection with the exercise
      or performance of any of their powers or duties
  hereunder.

The obligations of the Company
under this Section 6.07 to compensate the Trustees, to pay or reimburse the
Trustees for expenses, disbursements and advances and to indemnify and hold
harmless the Trustees shall constitute additional indebtedness hereunder and
shall survive the satisfaction and discharge of this Indenture and the
resignation or removal of the Trustee. As security for the performance of such
obligations of the Company, the Trustees shall have a claim prior to the
Securities upon all property and funds held or collected by the Trustees as such,
except funds held in trust for the payment of principal of, premium (if any) or
interest (if any) on particular Securities or any coupons. 

51 

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

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

	SECTION 6.08 	Corporate Trustees Required;
      Eligibility. 

	 	(1) 	
      There shall be at all times a U.S. Trustee hereunder
      which shall be eligible to act as Trustee under TIA Section 310(a)(1) and,
      together with its immediate parent, shall have a combined capital and
      surplus of at least $50,000,000. If the U.S. Trustee publishes reports of
      condition at least annually, pursuant to law or to the requirements of
      United States federal, state, territorial or District of Columbia
      supervising or examining authority, then for the purposes of this Section
      6.08, the combined capital and surplus of U.S. Trustee shall be deemed to
      be its combined capital and surplus as set forth in its most recent report
      of condition so published. If at any time the U.S. Trustee shall cease to
      be eligible in accordance with the provisions of this Section 6.08, it
      shall resign immediately in the manner and with the effect hereinafter
      specified in this Article Six.

	 	 	 
	 	(2) 	
      For so long as required by Trust Indenture Legislation,
      there shall be a Canadian Trustee under this Indenture. The Canadian
      Trustee shall at all times be a resident or authorized to do business in
      the Province of Ontario and any other province in Canada where Holders may
      be resident from time to time. The Canadian Trustee represents and
      warrants that no material conflict of interest exists in the Canadian
      Trustee’s role as a fiduciary hereunder and agrees that in the event of a
      material conflict of interest arising hereafter it will, within 30 days
      after ascertaining that it has such material conflict of interest, either
      eliminate the same or resign its trust hereunder. If any such material
      conflict of interests exists or hereafter shall exist, the validity and
      enforceability of this Indenture shall not be affected in any manner
      whatsoever by reason thereof.

	 	 	 
	 	(3) 	
      The Trustees will not be required to give any bond or
      security in respect of the execution of the trusts and powers set out in
      this Indenture or otherwise in respect of the premises.

	 	 	 
	 	(4) 	
      Neither Trustee nor any Affiliate of either Trustee shall
      be appointed a receiver or receiver and manager or liquidator of all or
      any part of the assets or undertaking of the
Company.

	SECTION 6.09 	Resignation and Removal; Appointment of
      Successor. 

	 	(1) 	
      No resignation or removal of either Trustee and no
      appointment of a successor Trustee pursuant to this Article Six shall
      become effective until the acceptance of appointment by the successor
      Trustee in accordance with the applicable requirements of Section
    6.10.

	 	 	 
	 	(2) 	
      Either Trustee may resign at any time with respect to the
      Securities of one or more series by giving written notice thereof to the
      Company. If the instrument of acceptance by a successor Trustee required
      by Section 6.10 shall not have been delivered to such
  Trustee
within 30 days after the giving of such notice of resignation,
the resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor Trustee with respect to the Securities of such
series.

52 

	 	(3) 	
      Either Trustee may be removed following 30 days notice at
      any time with respect to the Securities of any series by Act of the
      Holders of not less than a majority in principal amount of the Outstanding
      Securities of such series, delivered to such Trustee and to the
  Company.

	 	 	 
	 	(4) 	
If at any time:

	 	(i) 	
      either Trustee shall acquire any conflicting interest as
      defined in TIA Section 310(b) and fail to comply with the provisions of
      TIA Section 310(b)(i), or

	 	 	 
	 	(ii) 	
      either Trustee shall fail to comply with the provisions
      of TIA Section 310(b) after written request therefor by the Company or by
      any Holder who has been a bona fide Holder of a Security for at least six
      months, or

	 	 	 
	 	(iii) 	
      either Trustee shall cease to be eligible under Section
      6.08 and shall fail to resign after written request therefor by the
      Company or by any Holder who has been a bona fide Holder of a Security for
      at least six months, or

	 	 	 
	 	(iv) 	
      either Trustee shall become incapable of acting or shall
      be adjudged a bankrupt or insolvent or a receiver of such Trustee or of
      its property shall be appointed or any public officer shall take charge or
      control of such Trustee or of its property or affairs for the purpose of
      rehabilitation, conservation or liquidation,

then, in any such case, (i) the
Company, by a Board Resolution, may remove such Trustee with respect to all
Securities, or (ii) subject to TIA Section 315(e), any Holder who has been a
bona fide Holder of a Security of such series for at least six months may, on
behalf of himself and all others similarly situated, petition any court of
competent jurisdiction for the removal of such Trustee with respect to all
Securities of such series and the appointment of a successor Trustee or
Trustees. 

	 	(5) 	
      If either Trustee shall resign, be removed or become
      incapable of acting, or if a vacancy shall occur in the office of the U.S.
      Trustee or the Canadian Trustee for any cause, with respect to the
      Securities of one or more series, the Company, by a Board Resolution,
      shall promptly appoint a successor Trustee or Trustees with respect to the
      Securities of that or those series (it being understood that any such
      successor Trustee may be appointed with respect to the Securities of one
      or more or all of such series) provided, however, that the Company
      shall not be required to appoint a successor Trustee to the Canadian
      Trustee if the Canadian Trustee resigns or is removed and a Canadian
      Trustee under this Indenture is no longer required under Trust Indenture
      Legislation. If, within one year after such resignation, removal or
      incapability, or the occurrence of such vacancy, a successor Trustee with
      respect to the Securities of any series shall be appointed by Act of the
      Holders of a majority in principal amount of the Outstanding Securities of
      such series delivered to the Company and the retiring Trustee, the
      successor Trustee so appointed shall, forthwith upon its acceptance of
      such appointment, become the successor Trustee with respect to the
      Securities of such series and to that extent supersede the successor
      Trustee appointed by the Company. If no successor Trustee with respect to
      the Securities of any series shall have been so appointed by the Company or
the Holders and accepted appointment in the manner hereinafter provided, any
Holder who has been a bona fide Holder of a Security of such series for at least
six months may, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the appointment of a successor Trustee
with respect to the Securities of such series. 

53 

	 	(6) 	
      The Company shall give notice of each resignation and
      each removal of a Trustee with respect to the Securities of any series and
      each appointment of a successor Trustee with respect to the Securities of
      any series to the Holders of Securities of such series in the manner
      provided for in Section 1.07. Each notice shall include the name of the
      successor Trustee with respect to the Securities of such series and the
  address of its Corporate Trust Office.

	 	 	 
	 	(7) 	
      If a Canadian Trustee under this Indenture is no longer
      required by Trust Indenture Legislation, then the Company by a Board
Resolution may remove the Canadian Trustee.

	SECTION 6.10 	Acceptance of Appointment by Successor.
    

	 	(1) 	
      In case of the appointment hereunder of a successor
      Trustee with respect to all Securities, every such successor Trustee so
      appointed shall execute, acknowledge and deliver to the Company and to the
      retiring Trustee an instrument accepting such appointment, and thereupon
      the resignation or removal of the retiring Trustee shall become effective
      and such successor Trustee, without any further act, deed or conveyance,
      shall become vested with all the rights, powers, trusts and duties of the
      retiring Trustee; but, on the request of the Company or the successor
      Trustee, such retiring Trustee shall, upon payment of its charges, execute
      and deliver an instrument transferring to such successor Trustee all the
      rights, powers and trusts of the retiring Trustee and shall duly assign,
      transfer and deliver to such successor Trustee all property and money held
      by such retiring Trustee hereunder.

	 	 	 
	 	(2) 	
      In case of the appointment hereunder of a successor
      Trustee with respect to the Securities of one or more (but not all)
      series, the Company, the retiring Trustee and each successor Trustee with
      respect to the Securities of one or more series shall execute and deliver
      an indenture supplemental hereto wherein each successor Trustee shall
      accept such appointment and which (1) shall contain such provisions as
      shall be necessary or desirable to transfer and confirm to, and to vest
      in, each successor Trustee all the rights, powers, trusts and duties of
      the retiring Trustee with respect to the Securities of that or those
      series to which the appointment of such successor Trustee relates, (2) if
      the retiring Trustee is not retiring with respect to all Securities, shall
      contain such provisions as shall be deemed necessary or desirable to
      confirm that all the rights, powers, trusts and duties of the retiring
      Trustee with respect to the Securities of that or those series as to which
      the retiring Trustee is not retiring shall continue to be vested in the
      retiring Trustee, and (3) shall add to or change any of the provisions of
      this Indenture as shall be necessary to provide for or facilitate the
      administration of the trusts hereunder by more than one Trustee, it being
      understood that nothing herein or in such supplemental indenture shall
      constitute such Trustees co-trustees of the same trust and that each such
      Trustee shall be trustee of a trust or trusts hereunder separate and apart
      from any trust or trusts hereunder administered by any other such Trustee;
      and upon the execution and delivery of such supplemental indenture the
      resignation or removal of the retiring Trustee shall become effective to
      the extent provided therein and each such successor Trustee, without any
      further act, deed or conveyance, shall become vested with all the rights,
      powers, trusts and duties of the retiring Trustee with respect to the
      Securities of that or those series to which the appointment of such successor Trustee relates; but,
on request of the Company or any successor Trustee, such retiring Trustee shall
duly assign, transfer and deliver to such successor Trustee all property and
money held by such retiring Trustee hereunder with respect to the Securities of
that or those series to which the appointment of such successor Trustee relates.
Whenever there is a successor Trustee with respect to one or more (but less than
all) series of Securities issued pursuant to this Indenture, the terms
“Indenture” and “Securities” shall have the meanings specified in the provisos
to the respective definitions of those terms in Section 1.01 which contemplate
such situation. 

54 

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

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

	SECTION 6.11 	Merger, Conversion, Consolidation or
      Succession to Business. 

Any corporation into which either
Trustee or its corporate trust business may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which either Trustee shall be a party, or any corporation
succeeding to all or substantially all the corporate trust business of either
Trustee, shall be the successor of such Trustee hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article Six,
without the execution or filing of any paper or any further act on the part of
any of the parties hereto. In case any Securities shall have been authenticated,
but not delivered, by a Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such
authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee had itself authenticated such Securities. In case
any of the Securities shall not have been authenticated by such predecessor
Trustee, any successor Trustee may authenticate such Securities either in the
name of any predecessor hereunder or in the name of the successor Trustee. In
all such cases such certificates shall have the full force and effect which this
Indenture provides for the certificate of authentication of such Trustee;
provided, however, that the right to adopt the certificate of
authentication of any predecessor Trustee or to authenticate Securities in the
name of any predecessor Trustee shall apply only to its successor or successors
by merger, conversion or consolidation. 

	SECTION 6.12 	Appointment of Authenticating Agent.
  

At any time when any of the
Securities remain outstanding, the Trustees may appoint an Authenticating Agent
or Agents, with respect to one or more series of Securities which shall be
authorized to act on behalf of the Trustees to authenticate Securities of such
series and the Trustees shall give written notice of such appointment to all
Holders of Securities of the series with respect to which such Authenticating
Agent will serve, in the manner provided for in Section 1.07. Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be
valid and obligatory for all purposes as if authenticated by the applicable
Trustee hereunder. Any such appointment shall be evidenced by an instrument in
writing signed by a Responsible Officer of the Trustees, and a copy of such
instrument shall be promptly furnished to the Company. Wherever reference is
made in this Indenture to the authentication and delivery of Securities by the
Trustees or either Trustee’s certificate of authentication, such reference shall
be deemed to include authentication and delivery on behalf of the Trustees by an
Authenticating Agent and a certificate of authentication executed on behalf of
the Trustees by an Authenticating Agent. Each Authenticating Agent shall be
acceptable to the Company and shall at all times be a corporation organized and doing business under
the laws of the United States of America, any state thereof or the District of
Columbia or the laws of Canada or any province thereof, authorized under such
laws to act as Authenticating Agent, having a combined capital and surplus of
not less than $50,000,000 and subject to supervision or examination by United
States federal or state or Canadian federal or provincial authority. If such
corporation publishes reports of condition at least annually, pursuant to law or
to the requirements of said supervising or examining authority, then for the
purposes of this Section 6.12, the combined capital and surplus of such
corporation shall be deemed to be its combined capital and surplus as set forth
in its most recent report of condition so published. If at any time an
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section 6.12, it shall resign immediately in the manner and
with the effect specified in this Section 6.12. 

55 

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

An Authenticating Agent may
resign at any time by giving written notice thereof to the Trustees and to the
Company. The Trustees may at any time terminate the agency of an Authenticating
Agent by giving written notice thereof to such Authenticating Agent and to the
Company. Upon receiving such a notice of resignation or upon such a termination,
or in case at any time such Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section 6.12, the Trustees may appoint a
successor Authenticating Agent which shall be acceptable to the Company and
shall give written notice of such appointment to all Holders of Securities of
the series with respect to which such Authenticating Agent will serve, in the
manner provided for in Section 1.07. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all the rights,
powers and duties of its predecessor hereunder, with like effect as if
originally named as an Authenticating Agent. No successor Authenticating Agent
shall be appointed unless eligible under the provisions of this Section 6.12.

The Trustees agree to pay to each
Authenticating Agent from time to time reasonable compensation for its services
under this Section 6.12, and the Trustees shall be entitled to be reimbursed for
such payments, subject to the provisions of Section 6.07. 

If an appointment with respect to
one or more series is made pursuant to this Section 6.12, the Securities of such
series may have endorsed thereon, in addition to either Trustee’s certificate of
authentication, an alternate certificate of authentication in the following
form:

56 

(Certificate of Authentication may be executed by either
Trustee)

_____________________, as
U.S. Trustee, certifies that this is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture. 

Dated:  ____________

	_________________________________, 
	as U.S. Trustee 

	By: 	 
		As Authenticating Agent 
	 
	 
	By: 	 
		Authorized Officer 

_____________________, as
Canadian Trustee, certifies that this is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture. 

Dated:  ____________

	______________________________, 	 
	as Canadian Trustee 	 

	By: 	 
		As Authenticating Agent 
	 
	 
	By: 	 
		Authorized Officer

	SECTION 6.13 	Joint Trustees. 

The rights, powers, duties and
obligations conferred and imposed upon the Trustees are conferred and imposed
upon and shall be exercised and performed by the U.S. Trustee and the Canadian
Trustee individually, except to the extent the Trustees are required under Trust
Indenture Legislation to perform such acts jointly, and neither Trustee shall be
liable or responsible for the acts or omissions of the other Trustee. If the
U.S. Trustee and Canadian Trustee are unable to agree jointly to act or refrain
from acting, the applicable Trustee shall make the decision in accordance with
its applicable legislation. Unless the context implies or requires otherwise,
any written notice, request, direction, certificate, instruction, opinion or
other document (each such document, a “Writing”) delivered pursuant to
any provision of this Indenture to any of the U.S. Trustee or the Canadian
Trustee shall be deemed for all purposes of this Indenture as delivery of such
Writing to the Trustee. Each such Trustee in receipt of such Writing shall
notify such other Trustee of its receipt of such Writing within two Business
Days of such receipt provided, however, that any failure of such trustee
in receipt of such Writing to so notify such other Trustee shall not be deemed
as a deficiency in the delivery of such Writing to the Trustee. 

	SECTION 6.14 	Other Rights of Trustees.

Each Trustee shall retain the
right not to act and shall not be liable for refusing to act if, due to a lack
of information or for any other reason whatsoever, either Trustee, in its sole
judgment, determines that such act might cause it to be in non-compliance with
any applicable anti-money laundering or anti-terrorist legislation, regulation
or guideline. Further, should either Trustee, in its sole judgment, determine at
any time that its acting under this Indenture has resulted in its being in
non-compliance with any applicable anti-money laundering or anti-terrorist
legislation, regulation or guideline, then it shall have the right to resign on
10 days written notice to all parties provided (i) that such Trustee’s written
notice shall describe the circumstances of such non-compliance; and (ii) that if
such circumstances are rectified to such Trustee’s satisfaction within such 10 day
period, then such resignation shall not be effective. 

57 

The parties hereto acknowledge
  that Canadian federal and provincial legislation addressing the protection of
  individuals’ personal information (collectively, “Privacy Laws”) applies
  to obligations and activities under this Indenture. Despite any other provision
  of this Indenture, neither party shall take or direct any action that would
  contravene, or cause the other to contravene, applicable Privacy Laws. The
  Company, prior to transferring, or causing to be transferred, personal
  information to the Canadian Trustee, shall obtain and retain required consents
  of the relevant individuals to the collection, use and disclosure of their
  personal information, or shall have determined that such consents either have
  been previously given and can be relied on or are not required under Privacy
  Laws. The Canadian Trustee shall use commercially reasonable efforts to ensure
  that its services hereunder comply with Privacy Laws. Specifically, the Trustee
  agrees to (i) have designated a chief privacy officer; (ii) maintain policies
  and procedures to protect personal information and to receive and respond to any
  privacy complaint or inquiry; (iii) use personal information solely for the
  purposes of providing its services under or ancillary to this Indenture and not
  to use it for any other purpose except with the consent and direction of the
  Company; (iv) not sell or otherwise improperly disclose personal information to
  any third party; and (v) use employee administrative, physical and technological
  safeguards to reasonably secure and protect personal information against loss,
theft or unauthorized access, use or modification. 

It is expressly acknowledged and
agreed that the Canadian Trustee may, in the course of providing services
hereunder, collect or receive, use and disclose financial and other personal
information about such parties and/or their representatives, as individuals, or
about other individuals related to the subject matter hereof, and use such
information for the following purposes: 

	 	(i) 	
      to provide the services required under this Indenture and
      other services that may be requested from time to time;

	 	 	 
	 	(ii) 	
      to help the Canadian Trustee manage its servicing
      relationships with such individuals;

	 	 	 
	 	(iii) 	
      to meet the Canadian Trustee’s legal and regulatory
      requirements; and

	 	 	 
	 	(iv) 	
      if social insurance numbers are collected by the Canadian
      Trustee, to perform tax reporting and to assist in verification of an
      individual’s identity for security purposes.

Further, each party agrees that
it shall not provide or cause to be provided to the Canadian Trustee any
personal information relating to an individual who is not a party to this
Indenture unless that party has assured itself that such individual understands
and has consented to the aforementioned uses and disclosures. Notwithstanding
anything to the contrary herein, the Company and the Trustees may, without
liability, disclose information about the Holders and beneficial owners or
potential Holders or potential beneficial owners of the Securities pursuant to
subpoena or other order issued by a court of competent jurisdiction or when
otherwise required by applicable law. 

Each Trustee hereby accepts the
trusts in this Indenture declared and provided for and agrees to perform the
same upon the terms and conditions herein set forth and to hold all rights,
privileges and benefits conferred hereby and by law in trust for the various
persons who shall from time to time be holders, subject to all the terms and
conditions herein set forth. 

58 

ARTICLE SEVEN 
HOLDERS’ LISTS AND REPORTS BY
TRUSTEE AND COMPANY 

	SECTION 7.01 	Company to Furnish Trustees Names and
      Addresses of Holders. 

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

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

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

The Trustees may destroy any list
furnished as provided in Section 7.01 upon receipt of a new list so furnished.

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

	SECTION 7.03 	Disclosure of Names and Addresses of
      Holders. 

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

	SECTION 7.04 	Reports by Trustees.

	 	(1) 	
      Within 60 days after May 15 of each year commencing with
      the first year after the first issuance of Securities pursuant to this
      Indenture, the U.S. Trustee shall transmit to the Holders of Securities,
      in the manner and to the extent provided in TIA Section 313(c), a brief
      report dated as of such reporting date, if required by TIA Section
      313(a).

	 	 	 
	 	(2) 	
      The U.S. Trustee shall comply with TIA Sections 313(b)
      and 313(c).

	 	 	 
	 	(3) 	
      A copy of such report shall, at the time of such
      transmission to the Holders, be filed by the U.S. Trustee with the
      Company, with each securities exchange upon which any of the Securities
      are listed (if so listed) and also with the Commission. The Company agrees
      to notify the Trustees when the Securities become listed on any securities
      exchange.

59 

	SECTION 7.05 	Reports by the Company.

	 	(1) 	
      The Company will file with the Trustees, within 20 days
      after filing with or furnishing to the Commission, copies of its annual
      reports and of the information, documents and other reports (or copies of
      such portions of any of the foregoing as the Commission may by rules and
      regulations prescribe) which the Company is required to file or furnish
      with the Commission pursuant to Section 13 or 15(d) of the Exchange Act
      or, if the Company is not required to file information, documents or
      reports pursuant to either of such sections, then to file with the
      Trustees and the Commission, in accordance with rules and reulations
      prescribed by the Commission, such of the supplementary and periodic
      information, documents and reports which may be required pursuant to
      Section 13 of the Exchange Act in respect of a security listed and
      registered on a national securities exchange as may be prescribed in such
      rules and regulations; provided that any such reports, information
      or documents filed with the Commission pursuant to its Electronic Data
      Gathering, Analysis and Retrieval (EDGAR) system shall be deemed filed
      with the Trustees.

	 	 	 
	 	(2) 	
      The Company will transmit to all Holders, in the manner
      and to the extent provided in TIA Section 313(c), within 30 days after the
      filing thereof with the Trustees, such summaries of any information,
      documents and reports required to be filed by the Company pursuant to
      paragraph (1) of this Section 7.05 as may be required by rules and
      regulations prescribed from time to time by the Commission.

	 	 	 
	 	(3) 	
      If at any time the Securities are guaranteed by a direct
      or indirect parent of the Company, and such parent has furnished the
      reports required by this Section 7.05 with respect to parent as required
      by this Section 7.05 as if parent were the Company (including any
      financial information required hereby), the Company shall be deemed to be
      in compliance with this Section 7.05.

ARTICLE EIGHT 
CONSOLIDATION, MERGER, CONVEYANCE,
TRANSFER OR LEASE 

	SECTION 8.01 	Company May Consolidate, etc., only on
      Certain Terms. 

The Company shall not amalgamate
or consolidate with or merge into or enter into any statutory arrangement with
any other Person, or, directly or indirectly, convey, transfer or lease all or
substantially all of its properties and assets to any Person, unless: 

	 	(1) 	
      the Person formed by or continuing from such amalgamation
      or consolidation or into which the Company is merged or with which it
      enters into such statutory arrangement or the Person which acquires by
      operation of law or by conveyance or transfer, or which leases, all or
      substantially all of the properties and assets of the Company shall be a
      corporation, partnership or trust organized and validly existing under the
      laws of Canada or any province or territory thereof, the United States of
      America or any state thereof or the District of Columbia or, if such
      amalgamation, consolidation, merger, statutory arrangement or other
      transaction would not impair the rights of Holders, any other country,
      and, unless the Company is the continuing corporation, shall expressly
      assume, by an indenture supplemental hereto, executed and delivered to the
      Trustees, in form satisfactory to the Trustees, the Company’s obligation
      for the due and punctual payment of the principal of, premium (if any) and
      interest (if any) on all the Securities and the performance and observance of every covenant of this Indenture
on the part of the Company to be performed or observed; 

60 

	 	(2) 	
      immediately after giving effect to such transaction, no
      Default or Event of Default shall have happened and be continuing;
  and

	 	 	 
	 	(3) 	
      the Company or such Person shall have delivered to the
      Trustees an Officer’s Certificate and an Opinion of Counsel, each stating
      that such amalgamation, consolidation, merger, statutory arrangement or
      other transaction and such supplemental indenture comply with this Article
      Eight and that all conditions precedent herein provided for relating to
such transaction have been complied with.

This Section 8.01 shall only
apply to a merger, consolidation or amalgamation in which the Company is not the
surviving Person and to conveyances, leases and transfers by the Company as
transferor or lessor. 

	SECTION 8.02 	Successor Person Substituted.
  

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

ARTICLE NINE
SUPPLEMENTAL INDENTURES 

	SECTION 9.01 	Supplemental Indentures Without Consent of
      Holders. 

Notwithstanding Section 9.02,
without the consent of any Holders, the Company, when authorized by or pursuant
to a Board Resolution, and the Trustees, at any time and from time to time, may
enter into one or more indentures supplemental hereto, in form satisfactory to
the Trustees, for any of the following purposes: 

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

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

61 

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

	 	 	 
	 	(4) 	
      to delete or modify any Events of Default with respect to
      all or any series of the Securities, the form and terms of which are being
      established pursuant to such supplemental indenture as permitted in
      Section 3.01 (and if such Events of Default are to be for the benefit of
      less than all series of Securities, stating that such Events of Default
      are being included solely for the benefit of such series, and to specify
      the rights and remedies of the Trustees and the Holders of such Securities
      in connection therewith); or

	 	 	 
	 	(5) 	
      to add to or change any of the provisions of this
      Indenture to provide that Bearer Securities may be registrable as to
      principal, to change or eliminate any restrictions on the payment of
      principal of or any premium or interest on Bearer Securities, to permit
      Bearer Securities to be issued in exchange for Registered Securities, to
      permit Bearer Securities to be issued in exchange for Bearer Securities of
      other authorized denominations or to permit or facilitate the issuance of
      Securities in uncertificated form; provided that any such action
      shall not adversely affect the interests of the Holders of Securities of
      any series or any related coupons in any material respect; or

	 	 	 
	 	(6) 	
      to change or eliminate any of the provisions of this
      Indenture; provided that any such change or elimination shall
      become effective only when there is no Security Outstanding of any series
      created prior to the execution of such supplemental indenture which is
      entitled to the benefit of such provision; or

	 	 	 
	 	(7) 	
      to establish the form or terms of Securities of any
      series as permitted by Sections 2.01 and 3.01; or

	 	 	 
	 	(8) 	
      to evidence and provide for the acceptance of appointment
      hereunder by a successor Trustee with respect to the Securities of one or
      more series and to add to or change any of the provisions of this
      Indenture as shall be necessary to provide for or facilitate the
      administration of the trusts hereunder by more than one Trustee, pursuant
      to the requirements of Section 6.10; or

	 	 	 
	 	(9) 	
      to close this Indenture with respect to the
      authentication and delivery of additional series of Securities;
  or

	 	 	 
	 	(10) 	
      to cure any ambiguity or to correct or supplement any
      provision contained herein or in any indenture supplemental hereto which
      may be defective or inconsistent with any other provision contained herein
      or in any supplemental indenture or to conform the terms hereof, as
      amended and supplemented, that are applicable to the Securities of any
      series to the description of the terms of such Securities in the offering
      memorandum, prospectus supplement or other offering document applicable to
      such Securities at the time of initial sale thereof; or

	 	 	 
	 	(11) 	
      to make any change in any series of Securities that does
      not adversely affect in any material respect the rights of the Holders of
      such Securities; or

	 	 	 
	 	(12) 	
      to add to or change or eliminate any provision of this
      Indenture as shall be necessary or desirable in accordance with any
      amendments to the Trust Indenture Act; or

62 

	 	(13) 	
      to supplement any of the provisions of this Indenture to
      such extent as shall be necessary to permit or facilitate the defeasance
      and discharge of any series of Securities pursuant to Sections 4.01, 14.02
      and 14.03; provided that any such action shall not adversely affect
      the interests of the Holders of Securities of such series and any related
      coupons or any other series of Securities in any material respect;
    or

	 	 	 
	 	(14) 	
      to modify, eliminate or add to the provisions of this
      Indenture to such extent as shall be necessary to effect the
      qualifications of this Indenture under any applicable law of the United
      States and Canada or of any province or territory thereof to the extent
      they do not conflict with the applicable law of the United States
      heretofore or hereafter enacted.

	SECTION 9.02 	Supplemental Indentures with Consent of
      Holders. 

Except as provided in Section
9.01 and this Section 9.02, with the consent of the Holders of not less than a
majority in principal amount of all Outstanding Securities affected by such
supplemental indenture, by Act of said Holders delivered to the Company and the
Trustees, the Company, when authorized by or pursuant to a Board Resolution, and
the Trustees may enter into an indenture or indentures supplemental hereto for
the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture which affect such series of Securities
or of modifying in any manner the rights of the Holders of Securities of such
series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security
of such series, 

	 	(1) 	
      change the Stated Maturity of the principal of, premium
      (if any) or any installment of interest (if any) on any Security of such
      series, or reduce the principal amount thereof, premium (if any) or the
      rate of interest (if any) thereon, or reduce the amount of the principal
      of an Original Issue Discount Security of such series that would be due
      and payable upon a declaration of acceleration of the Maturity thereof
      pursuant to Section 5.02 or the amount thereof provable in bankruptcy
      pursuant to Section 5.04, or adversely affect any right of repayment at
      the option of any Holder of any Security of such series, or change any
      Place of Payment where, or the Currency in which, any Security of such
      series or any premium or interest thereon is payable, or impair the right
      to institute suit for the enforcement of any such payment on or after the
      Stated Maturity thereof (or, in the case of redemption or repayment at the
      option of the Holder, on or after the Redemption Date or Repayment Date,
      as the case may be), or adversely affect any right to convert or exchange
      any Security as may be provided pursuant to Section 3.01 herein,
  or

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

	 	 	 
	 	(3) 	
      modify any of the provisions of this 9.02 Section,
      Section 5.13 or Section 10.09, except to increase any such percentage or
      to provide that certain other provisions of this Indenture which affect
      such series cannot be modified or waived without the consent of the Holder
      of each Outstanding Security of such series.

63 

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

It shall not be necessary for any
Act of Holders under this 9.02 Section to approve the particular form of any
proposed supplemental indenture, but it shall be sufficient if such Act shall
approve the substance thereof. 

	SECTION 9.03 	Execution of Supplemental Indentures.
  

In executing, or accepting the
additional trusts created by, any supplemental indenture permitted by this
Article Nine or the modifications thereby of the trusts created by this
Indenture, the Trustees shall be entitled to receive, and shall be fully
protected in relying upon, an Opinion of Counsel stating that the execution of
such supplemental indenture is authorized or permitted by this Indenture. Each
Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects such Trustee’s own rights, duties or immunities under
this Indenture or otherwise. 

	SECTION 9.04 	Effect of Supplemental Indentures.
  

Upon the execution of any
supplemental indenture under this Article Nine, 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. 

	SECTION 9.05 	Conformity with Trust Indenture
      Legislation. 

Every supplemental indenture
executed pursuant to this Article Nine shall conform to the requirements of
Trust Indenture Legislation as then in effect. 

	SECTION 9.06 	Reference in Securities to Supplemental
      Indentures. 

Securities of any series
authenticated and delivered after the execution of any supplemental indenture
pursuant to this Article Nine may, and shall if required by the Trustees, bear a
notation in form approved by the Trustees as to any matter provided for in such
supplemental indenture. If the Company shall so determine, new Securities of any
series so modified as to conform, in the opinion of the Trustees and the
Company, to any such supplemental indenture may be prepared and executed by the
Company and authenticated and delivered by the Trustees in exchange for
outstanding Securities of such series. 

	SECTION 9.07 	Notice of Supplemental Indentures.
  

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

64 

ARTICLE TEN
COVENANTS 

	SECTION 10.01 	Payment of Principal, Premium and
      Interest. 

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

	SECTION 10.02 	Maintenance of Office or Agency.
  

	 	(1) 	
      If the Securities of a series are issuable as Registered
      Securities, the Company will maintain in each Place of Payment for any
      series of Securities an office or agency where Securities of that series
      may be presented or surrendered for payment, where Securities of that
      series may be surrendered for registration of transfer or exchange, where
      Securities of that series that are convertible or exchangeable may be
      surrendered for conversion or exchange, as applicable, and where notices
      and demands to or upon the Company in respect of the Securities of that
      series and this Indenture may be served and, if the Securities of a series
      are also issuable as Bearer Securities, where Bearer Securities of that
      series and related coupons may be presented or surrendered for payment in
      the circumstances described in Subsection 10.02(3).

	 	 	 
	 	(2) 	
      If Securities of a series are issuable as Bearer
      Securities, the Company will maintain (A) subject to any laws or
      regulations applicable thereto, in a Place of Payment for that series
      which is located outside the United States, an office or agency where
      Securities of that series and related coupons may be presented and
      surrendered for payment; provided, however, that, if the Securities
      of that series are listed on any securities exchange located outside the
      United States and such securities exchange shall so require, the Company
      will maintain a Paying Agent for the Securities of that series in any
      required city located outside the United States so long as the Securities
      of that series are listed on such exchange and (B) subject to any laws or
      regulations applicable thereto, in a Place of Payment for that series
      located outside the United States an office or agency where any Registered
      Securities of that series may be surrendered for registration of transfer,
      where Securities of that series may be surrendered for exchange, where
      Securities of that series that are convertible and exchangeable may be
      surrendered for conversion or exchange, as applicable, and where notices
      and demands to or upon the Company in respect of the Securities of that
      series and this Indenture may be served.

	 	 	 
	 	(3) 	
      The Company will give prompt written notice to the
      Trustees of the location, and any change in the location, of such office
      or agency. If at any time the Company shall fail to maintain any such
      required office or agency or shall fail to furnish the Trustees with the
      address thereof, such presentations, surrenders, notices and demands may
      be made or served at the Corporate Trust Offices of the Trustees, except
      that Bearer Securities of any series and the related coupons may be
      presented and surrendered for payment at the offices specified in the
      Security and the Company hereby appoints the same as its agents to receive
      such respective presentations, surrenders, notices and
  demands.

65 

	 	(4) 	
      Unless otherwise specified with respect to any Securities
      pursuant to Section 3.01, no payment of principal, premium or interest on
      Bearer Securities shall be made at any office or agency of the Company in
      the United States or by check mailed to any address in the United States
      or by transfer to an account maintained with a bank located in the United
      States; provided, however, that, if the Securities of a series are
      payable in Dollars, payment of principal of, premium (if any) and interest
      (if any), on any Bearer Security shall be made at the office of the
      Company’s Paying Agent in The City of New York, if (but only if) payment
      in Dollars of the full amount of such principal, premium or interest, as
      the case may be, at all offices or agencies outside the United States
      maintained for such purpose by the Company in accordance with this
      Indenture is illegal or effectively precluded by exchange controls or
      other similar restrictions.

	 	 	 
	 	(5) 	
      The Company may also from time to time designate one or
      more other offices or agencies where the Securities of one or more series
      may be presented or surrendered for any or all such purposes and may from
      time to time rescind any such designation; provided, however, that
      no such designation or rescission shall in any manner relieve the Company
      of its obligation to maintain an office or agency in accordance with the
      requirements set forth above for Securities of any series for such
      purposes. The Company will give prompt written notice to the Trustees of
      any such designation or rescission and of any change in the location of
      any such other office or agency. Unless otherwise specified with respect
      to any Securities as contemplated by Section 3.01 with respect to a series
      of Securities, the Company hereby initially appoints the U.S. Trustee at
      its Corporate Trust Office as Paying Agent in such city and as its agent
      to receive all such presentations, surrenders, notices and
  demands.

	 	 	 
	 	(6) 	
      Unless otherwise specified with respect to any Securities
      pursuant to Section 3.01, if and so long as the Securities of any series
      (i) are denominated in a Currency other than Dollars or (ii) may be
      payable in a Currency other than Dollars, or so long as it is required
      under any other provision of the Indenture, then the Company will maintain
      with respect to each such series of Securities, or as so required, at
      least one Exchange Rate Agent.

	SECTION 10.03 	Money for Securities Payments to Be Held in
      Trust. 

If the Company shall at any time
act as its own Paying Agent with respect to any series of Securities and any
related coupons, it will, on or before each due date of the principal of,
premium (if any) or interest (if any) on any of the Securities of that series,
segregate and hold in trust for the benefit of the Persons entitled thereto a
sum in the Currency in which the Securities of such series are payable (except
as otherwise specified pursuant to Section 3.01 for the Securities of such
series and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and
3.12(e)) sufficient to pay the principal of, premium (if any) or interest (if
any) on Securities of such series so becoming due until such sums shall be paid
to such Persons or otherwise disposed of as herein provided and will promptly
notify the Trustees of its action or failure so to act. 

Whenever the Company shall have
one or more Paying Agents for any series of Securities and any related coupons,
it will, prior to or on each due date of the principal of, premium (if any) or
interest (if any) on any Securities of that series, deposit with a Paying Agent
a sum (in the Currency described in the preceding paragraph) sufficient to pay
the principal, premium (if any) or interest (if any) so becoming due, such sum
to be held in trust for the benefit of the Persons entitled to such principal,
premium or interest, and (unless such Paying Agent is a Trustee) the Company
will promptly notify the Trustees of its action or failure so to act. 

66 

The Company will cause each
Paying Agent (other than the Trustees) for any series of Securities to execute
and deliver to the Trustees an instrument in which such Paying Agent shall agree
with the Trustees, subject to the provisions of this 10.03 Section, that such
Paying Agent will: 

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

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

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

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

Except as provided in the
Securities of any series, any money deposited with the Trustees or any Paying
Agent, or then held by the Company, in trust for the payment of the principal
of, premium (if any) or interest (if any) on any Security of any series, or any
coupon appertaining thereto, and remaining unclaimed for two years after such
principal, premium or interest has become due and payable shall be paid to the
Company on Company Request, or (if then held by the Company) shall be discharged
from such trust; and the Holder of such Security or coupon shall thereafter, as
an unsecured general creditor, look only to the Company for payment thereof, and
all liability of the Trustees or such Paying Agent with respect to such trust
money, and all liability of the Company as trustee thereof, shall thereupon
cease; provided, however, that the Trustees or such Paying Agent, before
being required to make any such repayment, may at the expense of the Company
cause to be published once, in an Authorized Newspaper, notice that such money
remains unclaimed and that, after a date specified therein, which shall not be
less than 30 days from the date of such publication, any unclaimed balance of
such money then remaining will be repaid to the Company. 

	SECTION 10.04 	Statement as to Compliance.
  

The Company shall deliver to the
Trustees, on or before 120 days after the end of the Company’s fiscal year, an
Officer’s Certificate stating that a review of the activities of the Company
during such fiscal year has been made under the supervision of the signing
Officer with a view to determining whether the Company has kept, observed,
performed and fulfilled its obligations under this Indenture, and further
stating, as to such Officer, that the Company 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 and
is continuing, describing all such Defaults or Events of Default of which he or
she may have knowledge and what action the Company is taking or propose to take
with respect thereto). The Company shall deliver to the Trustees upon demand
evidence in such form as the Trustees may require as to compliance by the
Company with any condition or covenant of the Company set out herein relating to
any action required or permitted to be taken by the Company under this Indenture
or as a result of any obligation imposed by this Indenture. For purposes of this Section 10.04, such
compliance shall be determined without regard to any period of grace or
requirement of notice under this Indenture. 

67 

	SECTION 10.05 	Payment of Taxes and Other Claims.

The Company will pay or discharge
or cause to be paid or discharged, before the same shall become delinquent, (1)
all material taxes, assessments and governmental charges levied or imposed upon
the Company or upon the income, profits or property of the Company, and (2) all
material lawful claims for labor, materials and supplies which, if unpaid, might
by law become a Lien upon any property or assets of the Company; provided,
however, that the Company shall not be required to pay or discharge or cause
to be paid or discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate
proceedings. 

	SECTION 10.06 	Corporate Existence.

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

	SECTION 10.07 	Waiver of Certain Covenants.
  

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

ARTICLE ELEVEN
REDEMPTION OF SECURITIES 

	SECTION 11.01 	Applicability of Article.

Securities of any series which
are redeemable before their Stated Maturity shall be redeemable in accordance
with the terms of such Securities and (except as otherwise specified as
contemplated by Section 3.01 for Securities of any series) in accordance with
this Article Eleven. 

	SECTION 11.02 	Election to Redeem; Notice to Trustees.
    

The election of the Company to
redeem any Securities shall be evidenced by or pursuant to a Board Resolution.
In case of any redemption at the election of the Company, the Company shall, at
least 60 days prior to the Redemption Date fixed by the Company (unless a
shorter notice shall be satisfactory to the Trustees), notify the Trustees of
such Redemption Date and of the principal amount of Securities of such series to
be redeemed and shall deliver to the Trustees such documentation and records as
shall enable the Trustees to select the Securities to be redeemed pursuant to
Section 11.03. In the case of any redemption of Securities prior to the expiration of any
restriction on such redemption provided in the terms of such Securities or
elsewhere in this Indenture, the Company shall furnish to the Trustees an
Officer’s Certificate evidencing compliance with such restriction. 

68 

	SECTION 11.03 	Selection by Trustees of Securities to Be
Redeemed. 

If less than all the Securities
of any series are to be redeemed, the particular Securities to be redeemed shall
be selected not more than 60 days prior to the Redemption Date by the Trustees,
from the Outstanding Securities of such series not previously called for
redemption, by such method as the Trustees shall deem fair and appropriate and
which may provide for the selection for redemption of portions of the principal
of Securities of such series; provided, however, that no such partial
redemption shall reduce the portion of the principal amount of a Security not
redeemed to less than the minimum authorized denomination for Securities of such
series established pursuant to Section 3.01. 

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

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

	SECTION 11.04 	Notice of Redemption.

Except as otherwise specified as
contemplated by Section 3.01, notice of redemption shall be given in the manner
provided for in Section 1.07 not less than 30 nor more than 60 days prior to the
Redemption Date, to each Holder of Securities to be redeemed. Failure to give
notice in the manner provided in Section 1.07 to the Holder of any Securities
designated for redemption as a whole or in part, or any defect in the notice to
any such Holder, shall not affect the validity of the proceedings for the
redemption of any other Securities or portion thereof. 

All notices of redemption shall
state: 

	 	(1) 	
      the Redemption Date,

	 	 	 
	 	(2) 	
      the Redemption Price and the amount of accrued interest
      to the Redemption Date payable as provided in Section 11.06, if
  any,

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

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

	 	 	 
	 	(5) 	
      that on the Redemption Date, the Redemption Price and
      accrued interest (if any) to the Redemption Date payable as provided in
      Section 11.06 will become due and payable upon each such Security, or the
      portion thereof, to be redeemed and, if applicable, that interest thereon
      will cease to accrue on and after said date,

69 

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

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

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

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

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

	SECTION 11.05 	Deposit of Redemption Price.
  

Prior to any Redemption Date, the
Company shall deposit with a Trustee or with a Paying Agent (or, if the Company
is acting as its own Paying Agent, segregate and hold in trust as provided in
Section 10.03) an amount of money in the Currency in which the Securities of
such series are payable (except as otherwise specified pursuant to Section 3.01
for the Securities of such series and except, if applicable, as provided in
Sections 3.12(b), 3.12(d) and 3.12(e)) sufficient to pay the Redemption Price
of, and accrued interest (if any) on, all the Securities which are to be
redeemed on that date. 

	SECTION 11.06 	Securities Payable on Redemption Date.
    

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

70 

If any Bearer Security
  surrendered for redemption shall not be accompanied by all appurtenant coupons
  maturing after the Redemption Date, such Security may be paid after deducting
  from the Redemption Price an amount equal to the face amount of all such missing
  coupons, or the surrender of such missing coupon or coupons may be waived by the
  Company and the Trustees if there be furnished to them such security or
  indemnity as they may require to save each of them and any Paying Agent
  harmless. If thereafter the Holder of such Security shall surrender to the
  Trustees or any Paying Agent any such missing coupon in respect of which a
  deduction shall have been made from the Redemption Price, such Holder shall be
  entitled to receive the amount so deducted; provided, however, that
  interest represented by coupons shall be payable only at an office or agency
  located outside the United States (except as otherwise provided in Section
  10.02) and, unless otherwise specified as contemplated by Section 3.01, only
upon presentation and surrender of those coupons. 

If any Security called for
redemption shall not be so paid upon surrender thereof for redemption, the
principal and premium (if any) shall, until paid, bear interest from the
Redemption Date at the rate of interest or Yield to Maturity (in the case of
Original Issue Discount Securities) set forth in such Security. 

	SECTION 11.07 	Securities Redeemed in Part.
  

Any Security which is to be
redeemed only in part (pursuant to the provisions of this Article Eleven or of
Article Twelve) shall be surrendered at a Place of Payment therefor (with, if
the Company or the Trustees so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company and the Trustees duly
executed by, the Holder thereof or such Holder’s attorney duly authorized in
writing), and the Company shall execute, and the applicable Trustee shall
authenticate and deliver to the Holder of such Security without service charge,
a new Security or Securities of the same series, of any authorized denomination
as requested by such Holder, in aggregate principal amount equal to and in
exchange for the unredeemed portion of the principal of the Security so
surrendered. 

ARTICLE TWELVE
SINKING FUNDS 

	SECTION 12.01 	Applicability of Article.

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

The minimum amount of any sinking
fund payment provided for by the terms of Securities of any series is herein
referred to as a “mandatory sinking fund payment,” and any payment in
excess of such minimum amount provided for by the terms of Securities of any
series is herein referred to as an “optional sinking fund payment”. If
provided for by the terms of Securities of any series, the cash amount of any
mandatory sinking fund payment may be subject to reduction as provided in
Section 12.02. Each sinking fund payment shall be applied to the redemption of
Securities of any series as provided for by the terms of Securities of such
series. 

	SECTION 12.02 	Satisfaction of Sinking Fund Payments with
      Securities. 

Subject to Section 12.03, in lieu
of making all or any part of any mandatory sinking fund payment with respect to
any Securities of a series in cash, the Company may at its option (1) deliver to
the Trustees Outstanding Securities of a such series (other than any
previously called for redemption) theretofore purchased or otherwise acquired by
the Company together in the case of any Bearer Securities of such series with
all un-matured coupons appertaining thereto, and/or (2) receive credit for the
principal amount of Securities of such series which have been previously
delivered to the Trustees by the Company or redeemed either at the election of
the Company pursuant to the terms of such Securities or through the application
of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any mandatory
sinking fund payment with respect to the Securities of the same series required
to be made pursuant to the terms of such Securities as provided for by the terms
of such series; provided, however, that such Securities have not been
previously so credited. Such Securities shall be received and credited for such
purpose by the Trustees at the Redemption Price specified in such Securities for
redemption through operation of the sinking fund and the amount of such
mandatory sinking fund payment shall be reduced accordingly. 

71 

	SECTION 12.03 	Redemption of Securities for Sinking
Fund. 

Not less than 60 days prior to
each sinking fund payment date for any series of Securities, the Company will
deliver to the Trustees an Officer’s Certificate specifying the amount of the
next ensuing sinking fund payment for that series pursuant to the terms of that
series, the portion thereof, if any, which is to be satisfied by payment of cash
in the Currency in which the Securities of such series are payable (except as
otherwise specified pursuant to Section 3.01 for the Securities of such series
and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e))
and the portion thereof, if any, which is to be satisfied by delivering or
crediting Securities of that series pursuant to Section 12.02 (which Securities
will, if not previously delivered, accompany such certificate) and whether the
Company intends to exercise its right to make a permitted optional sinking fund
payment with respect to such series. 

Such certificate shall be
irrevocable and upon its delivery the Company shall be obligated to make the
cash payment or payments therein referred to, if any, on or before the next
succeeding sinking fund payment date. In the case of the failure of the Company
to deliver such certificate, the sinking fund payment due on the next succeeding
sinking fund payment date for that series shall be paid entirely in cash and
shall be sufficient to redeem the principal amount of such Securities subject to
a mandatory sinking fund payment without the option to deliver or credit
Securities as provided in Section 12.02 and without the right to make any
optional sinking fund payment, if any, with respect to such series. 

Not more than 60 days before each
such sinking fund payment date the Trustees shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section
11.03 and cause notice of the redemption thereof to be given in the name of and
at the expense of the Company in the manner provided in Section 11.04. Such
notice having been duly given, the redemption of such Securities shall be made
upon the terms and in the manner stated in Sections 11.06 and 11.07. 

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

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

72 

ARTICLE THIRTEEN
REPAYMENT AT OPTION OF HOLDERS 

	SECTION 13.01 	Applicability of Article.

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

	SECTION 13.02 	Repayment of Securities.

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

	SECTION 13.03 	Exercise of Option. 

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

73 

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

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

If any Bearer Security
surrendered for repayment shall not be accompanied by all appurtenant coupons
maturing after the Repayment Date, such Security may be paid after deducting
from the amount payable therefor as provided in Section 13.02 an amount equal to
the face amount of all such missing coupons, or the surrender of such missing
coupon or coupons may be waived by the Company and the Trustees if there be
furnished to them such security or indemnity as they may require to save each of
them and any Paying Agent harmless. If thereafter the Holder of such Security
shall surrender to the Trustees or any Paying Agent any such missing coupon in
respect of which a deduction shall have been made as provided in the preceding
sentence, such Holder shall be entitled to receive the amount so deducted;
provided, however, that interest represented by coupons shall be payable
only at an office or agency located outside the United States (except as
otherwise provided in Section 10.02) and, unless otherwise specified as
contemplated by Section 3.01, only upon presentation and surrender of those
coupons. 

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

	SECTION 13.05 	Securities Repaid in Part.

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

74 

ARTICLE FOURTEEN 
DEFEASANCE AND COVENANT
DEFEASANCE 

	SECTION 14.01 	Company’s Option to Effect Defeasance or
      Covenant Defeasance. 

Except as otherwise specified as
contemplated by Section 3.01 for Securities of any series, the provisions of
this Article Fourteen shall apply to each series of Securities, and the Company
may, at its option, effect defeasance of the Securities of or within a series

under Section 14.02, or covenant defeasance of or within a series under Section
14.03 in accordance with the terms of such Securities and in accordance with
this Article Fourteen. 

	SECTION 14.02 	Defeasance and Discharge.

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

	SECTION 14.03 	Covenant Defeasance.

Upon the Company’s exercise of
the above option applicable to this Section 14.03 with respect to any Securities
of or within a series, the Company shall be released from its obligations under
Sections 10.05 and 10.06, and, if specified pursuant to Section 3.01, its
obligations under any other covenant, with respect to such Securities and any
related coupons on and after the date the conditions set forth in Section 14.04
are satisfied (hereinafter, “covenant defeasance”), and such Securities
and any related coupons shall thereafter be deemed not to be “Outstanding” for
the purposes of any direction, waiver, consent or declaration or Act of Holders
(and the consequences of any thereof) in connection with such covenants, but
shall continue to be deemed “Outstanding” for all other purposes hereunder. For
this purpose, such covenant defeasance means that, with respect to such
Securities and any related coupons, the Company may omit to comply with and
shall have no liability in respect of any term, condition or limitation set
forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of reference in any
such covenant to any other provision herein or in any other document and such
omission to comply shall not constitute a Default or an Event of Default under
clauses (4) or (7) of Section 5.01 or otherwise but, except as specified above,
the remainder of this Indenture and such Securities and any related coupons
shall be unaffected thereby. 

75 

	SECTION 14.04 	Conditions to Defeasance or Covenant
      Defeasance. 

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

	 	(1) 	
      The Company shall irrevocably have deposited or caused to
      be deposited with either Trustee (or another trustee satisfying the
      requirements of Section 6.08 who shall agree to comply with the provisions
      of this Article Fourteen applicable to it) as trust funds in trust for the
      purpose of making the following payments, specifically pledged as security
      for, and dedicated solely to, the benefit of the Holders of such
      Securities and any related coupons, (A) an amount (in such Currency in
      which such Securities and any related coupons are then specified as
      payable at Stated Maturity), or (B) Government Obligations applicable to
      such Securities (determined on the basis of the Currency in which such
      Securities are then specified as payable at Stated Maturity) which through
      the scheduled payment of principal and interest in respect thereof in
      accordance with their terms will provide, not later than one day before
      the due date of any payment of principal of and premium (if any) and
      interest (if any) under such Securities and any related coupons, money in
      an amount, or (C) a combination thereof, sufficient, in the opinion of a
      nationally recognized firm of independent public accountants expressed in
      a written certification thereof delivered to the Trustees, to pay and
      discharge, and which shall be applied by the Trustees (or another trustee
      satisfying the requirements of Section 6.08 who shall agree to comply with
      the provisions of this Article Fourteen) to pay and discharge, (i) the
      principal of, premium (if any) and interest (if any) on such Securities
      and any related coupons on the Stated Maturity (or Redemption Date, if
      applicable) of such principal of, premium (if any) or installment of
      interest (if any), (ii) any mandatory sinking fund payments or analogous
      payments applicable to such Securities and any related coupons on the day
      on which such payments are due and payable in accordance with the terms of
      this Indenture and of such Securities and any related coupons, and (iii)
      all amounts due the Trustees under Section 6.07; provided that the
      Trustees shall have been irrevocably instructed to apply such money or the
      proceeds of such Government Obligations to said payments with respect to
      such Securities and any related coupons. Before such a deposit, the
      Company may give to the Trustees, in accordance with Section 11.02, a
      notice of its election to redeem all or any portion of such Securities at
      a future date in accordance with the terms of such Securities and Article
      Eleven hereof, which notice shall be irrevocable. Such irrevocable
      redemption notice, if given, shall be given effect in applying the
      foregoing.

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

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

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

76 

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

	 	 	 
	 	(6) 	
      The Company shall have delivered to the Trustees an
      Opinion of Counsel in Canada or a ruling from the Canada Revenue Agency to
      the effect that the Holders of such Securities will not recognize income,
      gain or loss for Canadian federal, provincial or territorial income tax or
      other tax purposes as a result of such defeasance or covenant defeasance,
      as applicable, and will be subject to Canadian federal, provincial or
      territorial income tax and other tax on the same amounts, in the same
      manner and at the same times as would have been the case had such
      defeasance or covenant defeasance, as applicable, not occurred (and for
      the purposes of such opinion, such Canadian counsel shall assume that
      Holders of such Securities include Holders who are not resident in
      Canada).

	 	 	 
	 	(7) 	
      The Company is not an “insolvent person” within the
      meaning of the Bankruptcy and Insolvency Act (Canada) on the date of such
      deposit or at any time during the period ending on the 91st day after the
      date of such deposit (it being understood that this condition shall not be
      deemed satisfied until the expiration of such period).

	 	 	 
	 	(8) 	
      Notwithstanding any other provisions of this Section
      14.04, such defeasance or covenant defeasance shall be effected in
      compliance with any additional or substitute terms, conditions or
      limitations in connection therewith pursuant to Section 3.01.

	 	 	 
	 	(9) 	
      The Company shall have delivered to the Trustees an
      Officer’s Certificate and an Opinion of Counsel, each stating that all
      conditions precedent provided for, relating to either the defeasance under
      Section 14.02 or the covenant defeasance under Section 14.03 (as the case
may be), have been complied with.

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

Subject to the provisions of the
last paragraph of Section 10.03, all money and Government Obligations (or other
property as may be provided pursuant to Section 3.01) (including the proceeds
thereof) deposited with a Trustee (or another trustee satisfying the
requirements of Section 6.08 who shall agree to comply with the provisions of
this Article Fourteen) pursuant to Section 14.04 in respect of such Securities
and any related coupons shall be held in trust and applied by such Trustee, in
accordance with the provisions of such Securities and any related coupons and
this Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent), to the Holders of such
Securities and any related coupons of all sums due and to become due thereon in
respect of principal, premium (if any) and interest (if any) on such
Securities but such money need not be segregated from other funds except to the
extent required by law. 

77 

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

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

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

	SECTION 14.06 	Reinstatement. 

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

78 

ARTICLE FIFTEEN 
MEETINGS OF HOLDERS OF SECURITIES

	SECTION 15.01 	Purposes for Which Meetings May Be
      Called. 

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

	SECTION 15.02 	Call, Notice and Place of Meetings.
  

	 	(1) 	
      The Trustees may at any time call a meeting of Holders of
      Securities of any series for any purpose specified in Section 15.01, to be
      held at such time and at such place in The City of New York, in Toronto or
      in London as the Trustees shall determine. Notice of every meeting of
      Holders of Securities of any series, setting forth the time and the place
      of such meeting and in general terms the action proposed to be taken at
      such meeting, shall be given, in the manner provided for in Section 1.07,
      not less than 21 nor more than 180 days prior to the date fixed for the
      meeting.

	 	 	 
	 	(2) 	
      In case at any time the Company, pursuant to a Board
      Resolution, or the Holders of at least 10% in principal amount of the
      Outstanding Securities of any series shall have requested the Trustees to
      call a meeting of the Holders of Securities of such series for any purpose
      specified in Section 15.01, by written request setting forth in reasonable
      detail the action proposed to be taken at the meeting, and the Trustees
      shall not have made the first publication of the notice of such meeting
      within 21 days after receipt of such request or shall not thereafter
      proceed to cause the meeting to be held as provided herein, then the
      Company or the Holders of Securities of such series in the amount above
      specified, as the case may be, may determine the time and the place in The
      City of New York, in Toronto or in London for such meeting and may call
      such meeting for such purposes by giving notice thereof as provided in
      paragraph (1) of this Section 15.02.

	SECTION 15.03 	Persons Entitled to Vote at Meetings.
  

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

	SECTION 15.04 	Quorum; Action. 

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

79 

Subject to the foregoing, at the
  reconvening of any meeting adjourned for lack of a quorum the Persons entitled
  to vote 25% in principal amount of the Outstanding Securities at the time shall
  constitute a quorum for the taking of any action set forth in the notice of the
original meeting. 

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

Any resolution passed or decision
taken at any meeting of Holders of Securities of any series duly held in
accordance with this Section 15.04 shall be binding on all the Holders of
Securities of such series and the related coupons, whether or not present or
represented at the meeting. 

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

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

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

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

	 	(1) 	
      Notwithstanding any provisions of this Indenture, the
      Trustees may make such reasonable regulations as they may deem advisable
      for any meeting of Holders of Securities of a series in regard to proof of
      the holding of Securities of such series and of the appointment of proxies
      and in regard to the appointment and duties of inspectors of votes, the
      submission and examination of proxies, certificates and other evidence of
      the right to vote, and such other matters concerning the conduct of the
      meeting as they shall deem appropriate. Except as otherwise permitted or required by any
such regulations, the holding of Securities shall be proved in the manner
specified in Section 1.05 and the appointment of any proxy shall be proved in
the manner specified in Section 1.05 or by having the signature of the person
executing the proxy witnessed or guaranteed by any trust company, bank or banker
authorized by Section 1.05 to certify to the holding of Bearer Securities. Such
regulations may provide that written instruments appointing proxies, regular on
their face, may be presumed valid and genuine without the proof specified in
Section 1.05 or other proof. 

80 

	 	(2) 	
      The Trustees shall, by an instrument in writing appoint a
      temporary chair of the meeting, unless the meeting shall have been called
      by the Company or by Holders of Securities as provided in Section
      15.02(b), in which case the Company or the Holders of Securities of the
      series calling the meeting, as the case may be, shall in like manner
      appoint a temporary chair. A permanent chair and a permanent secretary of
      the meeting shall be elected by vote of the Persons entitled to vote a
      majority in principal amount of the Outstanding Securities of such series
  represented at the meeting.

	 	 	 
	 	(3) 	
      At any meeting each Holder of a Security of such series
      or proxy shall be entitled to one vote for each $1,000 principal amount of
      Outstanding Securities of such series held or represented by him
      (determined as specified in the definition of “Outstanding” in Section
      1.01); provided, however, that no vote shall be cast or counted at
      any meeting in respect of any Security challenged as not Outstanding and
      ruled by the chair of the meeting to be not Outstanding. The chair of the
      meeting shall have no right to vote, except as a Holder of a Security of
      such series or a proxy.

	 	 	 
	 	(4) 	
      Any meeting of Holders of Securities of any series duly
      called pursuant to Section 15.02 at which a quorum is present may be
      adjourned from time to time by Persons entitled to vote a majority in
      principal amount of the Outstanding Securities of such series represented
      at the meeting; and the meeting may be held as so adjourned without
further notice.

	SECTION 15.06 	Counting Votes and Recording Action of
      Meetings. 

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

81 

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

	INTELGENX TECHNOLOGIES CORP. 
	  
	  
	By: 	
	Name: 	
	Title: 	

	_________________________________, 	 
	as U.S. Trustee 	 

	By: 	 
	Name: 	 
	Title: 	 
	  
	  
	By: 	 
	Name: 	 
	Title: 	 

	_________________________________, 	 
	as Canadian Trustee 	 

	By: 	 
    
	Name: 	 
    
	Title: 	Authorized Signing Officer 
	  	  
	  	  
	By: 	 
    
	Name: 	 
    
	Title: 	Authorized Signing Officer

82 

EXHIBIT A-1

FORM OF CERTIFICATE TO BE GIVEN BY
PERSON ENTITLED TO RECEIVE
BEARER SECURITY 
OR TO OBTAIN INTEREST PAYABLE PRIOR
TO THE EXCHANGE DATE

CERTIFICATE 

INTELGENX TECHNOLOGIES CORP. 
_____% Notes due
_________________

This is to certify that as of the
date hereof, and except as set forth below, the above-captioned Securities held
by you for our account (i) are owned by any person(s) that is not a citizen or
resident of the United States; a corporation or partnership (including any
entity treated as a corporation or partnership for United States federal income
tax purposes) created or organized in or under the laws of the United States,
any state thereof or the District of Columbia unless, in the case of a
partnership, United States Treasury Regulations provide otherwise; any estate
whose income is subject to United States federal income tax regardless of its
source; or a trust if (A) a United States court can exercise primary supervision
over the trust’s administration and one or more United States persons are
authorized to control all substantial decisions of the trust or (B) it was in
existence on August 20, 1996 and has a valid election in effect under applicable
United States Treasury Regulations to be treated as a United States person
(“United States persons(s)”), (ii) are owned by United States person(s) that are
(a) foreign branches of United States financial institutions (financial
institutions, as defined in United States. United States Treasury Regulation
Section 1.165 -12(c)(1)(v) are herein referred to as “financial institutions”)
purchasing for their own account or for resale, or (b) United States person(s)
who acquired the Securities through foreign branches of United States financial
institutions and who hold the Securities through such United States financial
institutions on the date hereof (and in either case (a) or (b), each such United
States financial institution hereby agrees, on its own behalf or through its
agent, that you may advise IntelGenx Technologies Corp. or its agent that such
financial institution will comply with the requirements of Section 165(j)(3)(A),
(B) or (C) of the United States Internal Revenue Code of 1986, as amended, and
the regulations thereunder), or (iii) are owned by United States or foreign
financial institution(s) for purposes of resale during the restricted period (as
defined in United States Treasury Regulation Section 1.163 -5(c)(2)(i)(D)(7)),
and, in addition, if the owner is a United States or foreign financial
institution described in clause (iii) above (whether or not also described in
clause (i) or (ii)), this is to further certify that such financial institution
has not acquired the Securities for purposes of resale directly or indirectly to
a United States person or to a person within the United States or its
possessions. 

As used herein, “United States”
means the United States of America (including the states and the District of
Columbia); and its “possessions” include Puerto Rico, the U.S. Virgin Islands,
Guam, American Samoa, Wake Island and the Northern Mariana Islands. 

We undertake to advise you promptly
in writing on or prior to the date on which you intend to submit your
certification relating to the above-captioned Securities held by you for our
account in accordance with your operating procedures if any applicable statement
herein is not correct on such date, and in the absence of any such notification
it may be assumed that this certification applies as of such date. 

This certificate excepts and does
not relate to U.S. $__________of such interest in the above-captioned Securities
in respect of which we are not able to certify and as to which we understand an
exchange for an interest in a permanent global security or an
exchange for and delivery of definitive Securities (or, if relevant, collection
of any interest) cannot be made until we do so certify. 

A-1-1 

We understand that this certificate may be required in
connection with certain tax legislation in the United States. If administrative
or legal proceedings are commenced or threatened in connection with which this
certificate is or would be relevant, we irrevocably authorize you to produce
this certificate or a copy thereof to any interested party in such proceedings.

	
      Dated:__________________ 
	 	 
	
      [To be dated no earlier than the 15th day prior to
(i)
      the Exchange Date or (ii) the relevant Interest
Payment Date occurring
      prior to the Exchange
Date, as applicable] 
		
	
       
	 	 
	
       
	 	 
		 	[Name of Person Making Certification]
  

	By: 	 
	Name: 	 
	Title: 	 

A-1-2 

EXHIBIT A-2 

FORM OF CERTIFICATE TO BE GIVEN BY THE DEPOSITARY
IN
CONNECTION WITH THE EXCHANGE OF A
PORTION OF A TEMPORARY GLOBAL SECURITY OR
TO OBTAIN INTEREST 
PAYABLE PRIOR TO THE EXCHANGE DATE

CERTIFICATE 

INTELGENX TECHNOLOGIES CORP. 
_____% Notes due
_________________

This is to certify that based
solely on written certifications that we have received in writing or by
electronic transmission from each of the persons appearing in our records as
persons entitled to a portion of the principal amount set forth below (our
“Member Organizations”) substantially in the form attached hereto, as of the
date hereof, U.S. $__________principal amount of the above-captioned Securities
(i) is owned by any person(s) that is not a citizen or resident of the United
States; a corporation or partnership (including any entity treated as a
corporation or partnership for United States federal income tax purposes)
created or organized in or under the laws of the United States, any state
thereof or the District of Columbia unless, in the case of a partnership, United
States Treasury Regulations provide otherwise; any estate whose income is
subject to United States federal income tax regardless of its source; or a trust
if (A) a United States court can exercise primary supervision over the trust’s
administration and one or more United States persons are authorized to control
all substantial decisions of the trust or (B) it was in existence on August 20,
1996 and has a valid election in effect under applicable United States Treasury
Regulations to be treated as a United States person (“United States person(s)”),
(ii) is owned by United States person(s) that are (a) foreign branches of United
States financial institutions (financial institutions, as defined in United
States Treasury Regulation Section 1.165 -12(c)(1)(v) are herein referred to as
“financial institutions”) purchasing for their own account or for resale, or (b)
United States person(s) who acquired the Securities through foreign branches of
United States financial institutions and who hold the Securities through such
United States financial institutions on the date hereof (and in either case (a)
or (b), each such financial institution has agreed, on its own behalf or through
its agent, that we may advise IntelGenx Technologies Corp. or its agent that
such financial institution will comply with the requirements of Section
165(j)(3)(A), (B) or (C) of the Internal Revenue Code of 1986, as amended, and
the regulations thereunder), or (iii) is owned by United States or foreign
financial institution(s) for purposes of resale during the restricted period (as
defined in United States Treasury Regulation Section 1.163 -5(c)(2)(i)(D)(7))
and, to the further effect, that financial institutions described in clause
(iii) above (whether or not also described in clause (i) or (ii)) have certified
that they have not acquired the Securities for purposes of resale directly or
indirectly to a United States person or to a person within the United States or
its possessions. 

As used herein, “United States”
means the United States of America (including the states and the District of
Columbia); and its “possessions” include Puerto Rico, the U.S. Virgin Islands,
Guam, American Samoa, Wake Island and the Northern Mariana Islands. 

We further certify that (i) we
are not making available herewith for exchange (or, if relevant, collection of
any interest) any portion of the temporary global Security representing the
above-captioned Securities excepted in the above-referenced certificates of
Member Organizations and (ii) as of the date hereof we have not received any
notification from any of our Member Organizations to the effect that the
statements made by such Member Organizations with respect to any portion of the
part submitted herewith for exchange (or, if relevant, collection of any
interest) are no longer true and cannot be relied upon as of the date hereof.

A-2-1 

We understand that this
certification is required in connection with certain tax legislation in the
United States. If administrative or legal proceedings are commenced or
threatened in connection with which this certificate is or would be relevant, we
irrevocably authorize you to produce this certificate or a copy thereof to any
interested party in such proceedings. 

	
      Dated:__________________
	 	 
	
      [To be dated no earlier than the 15th day prior to
(i)
      the Exchange Date or (ii) the relevant Interest
Payment Date occurring
      prior to the Exchange
Date, as applicable] 
		
	
       
	 	 
	
       
	 	 
		 	[INSERT NAME OF DEPOSITARY]

	By: 	 
	Name: 	 
	Title: 	 

A-2-2

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