Document:

EXHIBIT 10.4

 

EXHIBIT 10.4

      

      

      

 

SALE AND SERVICING AGREEMENT

among

GS AUTO LOAN TRUST 2005-1,

as Issuer,

GOLDMAN SACHS ASSET BACKED SECURITIES CORP.,

as Depositor,

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,

as Indenture Trustee,

and

GOLDMAN SACHS MORTGAGE COMPANY,

as Servicer

Dated as of August 19, 2005

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	ARTICLE I DEFINITIONS AND USAGE	 	 	1	 
	ARTICLE II TRANSFERRED ASSETS	 	 	1	 
	SECTION 2.1
	 	Conveyance of Transferred Assets; Intent of the Parties	 	 	1	 
	SECTION 2.2
	 	Representations and Warranties of the Depositor regarding the Receivables	 	 	1	 
	SECTION 2.3
	 	Repurchase upon Breach	 	 	2	 
	SECTION 2.4
	 	Custody of Receivable Files	 	 	3	 
	SECTION 2.5
	 	Representations and Warranties as
to the Security Interest of the Issuer in the Receivables	 	 	3	 
	ARTICLE III ADMINISTRATION AND SERVICING OF RECEIVABLES AND TRUST PROPERTY	 	 	4	 
	SECTION 3.1
	 	Duties of Servicer	 	 	4	 
	SECTION 3.2
	 	Collection of Receivable Payments	 	 	5	 
	SECTION 3.3
	 	Realization Upon Receivables	 	 	5	 
	SECTION 3.4
	 	Maintenance of Security Interests in Financed Vehicles	 	 	6	 
	SECTION 3.5
	 	Covenants of Servicer	 	 	6	 
	SECTION 3.6
	 	Purchase of Receivables Upon Breach	 	 	6	 
	SECTION 3.7
	 	Servicer Fees	 	 	7	 
	SECTION 3.8
	 	Monthly Noteholder Report	 	 	7	 
	SECTION 3.9
	 	Annual Statement as to Compliance; Notice of Event of Servicing Termination	 	 	8	 
	SECTION 3.10
	 	Annual Independent Certified Public Accountant's Report	 	 	8	 
	SECTION 3.11
	 	Access to Certain Documentation and Information Regarding Receivables	 	 	9	 
	SECTION 3.12
	 	Servicer Expenses	 	 	9	 
	SECTION 3.13
	 	Sarbanes-Oxley Act of 2002	 	 	9	 
	ARTICLE IV DISTRIBUTIONS; STATEMENTS TO NOTEHOLDERS AND CERTIFICATEHOLDERS	 	 	9	 
	SECTION 4.1
	 	Accounts	 	 	9	 
	SECTION 4.2
	 	Collections	 	 	11	 
	SECTION 4.3
	 	Application of Collections	 	 	11	 
	SECTION 4.4
	 	Additional Deposits	 	 	11	 
	SECTION 4.5
	 	Distributions	 	 	11	 
	SECTION 4.6
	 	Net Deposits	 	 	11	 

ii

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	SECTION 4.7
	 	Statements to Noteholders and Certificateholders	 	 	11	 
	SECTION 4.8
	 	Subcertifications of Indenture
Trustee in Connection with Sarbanes-Oxley Certifications	 	 	13	 
	ARTICLE V THE DEPOSITOR	 	 	13	 
	SECTION 5.1
	 	Representations, Warranties and Covenants of Depositor	 	 	13	 
	SECTION 5.2
	 	Liability of Depositor; Indemnities	 	 	15	 
	SECTION 5.3
	 	Merger or Consolidation of, or Assumption of the Obligations of Depositor	 	 	15	 
	SECTION 5.4
	 	Limitation on Liability of Depositor and Others	 	 	15	 
	SECTION 5.5
	 	Depositor May Own Notes or Certificates	 	 	15	 
	SECTION 5.6
	 	Sarbanes-Oxley Certifications	 	 	15	 
	ARTICLE VI THE SERVICER	 	 	16	 
	SECTION 6.1
	 	Representations of Servicer	 	 	16	 
	SECTION 6.2
	 	Indemnities of Servicer	 	 	17	 
	SECTION 6.3
	 	Merger or Consolidation of, or Assumption of the Obligations of Servicer	 	 	17	 
	SECTION 6.4
	 	Limitation on Liability of Servicer and Others	 	 	17	 
	SECTION 6.5
	 	Subservicing and Delegation of Duties	 	 	18	 
	SECTION 6.6
	 	Servicer Not to Resign as Servicer;
Resignation and Termination of Receivables Servicers	 	 	19	 
	SECTION 6.7
	 	Servicer May Own Notes or Certificates	 	 	19	 
	ARTICLE VII SERVICING TERMINATION	 	 	19	 
	SECTION 7.1
	 	Events of Servicing Termination	 	 	19	 
	SECTION 7.2
	 	Appointment of Successor Servicer	 	 	21	 
	SECTION 7.3
	 	Notification to Noteholders and Certificateholders	 	 	22	 
	SECTION 7.4
	 	Waiver of Past Events of Servicing Termination	 	 	22	 
	ARTICLE VIII TERMINATION	 	 	23	 
	SECTION 8.1
	 	Optional Purchase of All Receivables	 	 	23	 
	SECTION 8.2
	 	Succession Upon Satisfaction and Discharge of Indenture	 	 	23	 
	ARTICLE IX MISCELLANEOUS PROVISIONS	 	 	23	 
	SECTION 9.1
	 	Amendment	 	 	23	 
	SECTION 9.2
	 	Protection of Title to Trust Property	 	 	24	 

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TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	SECTION 9.3
	 	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	 	 	26	 
	SECTION 9.4
	 	Notices	 	 	26	 
	SECTION 9.5
	 	Severability of Provisions	 	 	27	 
	SECTION 9.6
	 	No Waiver; Cumulative Remedies	 	 	27	 
	SECTION 9.7
	 	Third-Party Beneficiaries	 	 	27	 
	SECTION 9.8
	 	Limitation of Liability of the Owner Trustee and the Indenture Trustee	 	 	28	 
	SECTION 9.9
	 	Transfers Intended as Sale; Security Interest	 	 	28	 
	SECTION 9.10
	 	No Petition	 	 	29	 
	SECTION 9.11
	 	Execution in Counterparts	 	 	29	 
	SECTION 9.12
	 	Headings	 	 	29	 
	Appendix A Definitions and Usage	 	 	 	 
	Appendix B Form of Certification to be Provided to the Depositor by the Indenture Trustee	 	 	 	 
	Schedule A Receivables	 	 	 	 

iv

 

     This SALE AND SERVICING AGREEMENT, dated as of August 19, 2005 (as from time to time amended,
supplemented or otherwise modified and in effect, this “Agreement”), is among GS AUTO LOAN TRUST
2005-1 (the “Issuer”), a Delaware statutory trust, GOLDMAN SACHS ASSET BACKED SECURITIES CORP., a
Delaware corporation (the “Depositor”), JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Indenture
Trustee (in such capacity, the “Indenture Trustee”), and GOLDMAN SACHS MORTGAGE COMPANY, a New York
limited partnership, as servicer (in such capacity, the “Servicer”).

     WHEREAS, the Issuer desires to purchase from the Depositor a portfolio of receivables and
related property consisting of motor vehicle retail installment sale contracts and loans;

     WHEREAS, the Servicer is willing to service such receivables on behalf of the Issuer.

     NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained,
and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:

ARTICLE I

DEFINITIONS AND USAGE

     Except as otherwise specified herein or as the context may otherwise require, capitalized
terms used but not otherwise defined herein are defined in Appendix A hereto, which also contains
rules as to usage that shall be applicable herein.

ARTICLE II

TRANSFERRED ASSETS

     SECTION 2.1 Conveyance of Transferred Assets; Intent of the Parties. In consideration
of the Issuer’s delivery to, or upon the order of, the Depositor of the Notes and the Certificates,
the Depositor does hereby irrevocably sell, transfer, assign and otherwise convey to the Issuer
without recourse (subject to the obligations herein) all right, title and interest of the
Depositor, whether now owned or hereafter acquired, in and to the Transferred Assets. The sale,
transfer, assignment and conveyance made hereunder shall not constitute and is not intended to
result in an assumption by the Issuer of any obligation of the Depositor or any other Person to the
Obligors or any other Person in connection with the Receivables and the other Transferred Assets or
any agreement, document or instrument related thereto. The Depositor and the Issuer intend that
the sale, transfer, assignment and conveyance of the Transferred Assets pursuant to this Section
2.1 shall be a sale and not a secured borrowing.

     SECTION 2.2 Representations and Warranties of the Depositor regarding the Receivables.
The Depositor makes the following representations and warranties with respect to the Receivables,
on which the Issuer relies in purchasing the Receivables and pledging the same to the Indenture
Trustee. Such representations and warranties speak as of the Closing Date, but shall survive the
sale, transfer and assignment of the Receivables by the Depositor to the Issuer pursuant to this
Agreement and the pledge of the Receivables by the Issuer to the Indenture Trustee pursuant to the
Indenture.

 

 

     (i) Schedule of Receivables. No selection procedures adverse to the
Securityholders have been used by the Depositor in selecting the Receivables from
all receivables owned by the Depositor which meet the selection criteria specified
herein.

     (ii) No Sale or Transfer. No Receivable has been sold, transferred, assigned
or pledged by the Depositor to any Person other than the Issuer.

     (iii) Good Title. Immediately prior to the transfer and assignment of the
Receivables to the Issuer herein contemplated, each Receivable was free and clear of
all Liens created by the Depositor; and, immediately upon the transfer thereof, the
Issuer has either (i) good and marketable title to each Receivable, free and clear
of all of all Liens and rights of others to the extent created by the Depositor and
the transfer has been perfected under applicable law or (ii) a first priority
perfected security interest in the Depositor’s rights in each Receivable.

     SECTION 2.3 Repurchase upon Breach. (a) Each of the Depositor, the Servicer, the
Issuer and the Indenture Trustee shall inform the other parties to this Agreement promptly, in
writing, upon the discovery by it of any breach of the Depositor’s representations and warranties
pursuant to Section 2.2 which materially and adversely affects the interest of the Issuer in any
Receivable. Unless the breach shall have been cured by the last day of the second Collection
Period following written notice to the Indenture Trustee of such breach, the Depositor shall
repurchase any Receivable for which the interest of the Issuer is materially and adversely affected
by such breach as of such last day (or, at the Depositor’s option, the last day of the first
Collection Period following the discovery). Any such breach shall not be deemed to have a material
and adverse effect on the interests of the Issuer if such breach does not affect the ability of the
Issuer to receive and retain timely payment in full on the related Receivable. The Depositor shall
remit the related Purchase Amount (less any Liquidation Proceeds deposited, or to be deposited, in
the Collection Account with respect to such Receivable pursuant to Section 3.3), in the manner
specified in Section 4.4.

          (b) In addition to the foregoing repurchase obligations, if the interest of the Issuer in any
Receivable is materially and adversely affected by a breach by an Originator of a representation or
warranty relating to such Receivable in an Originator Purchase Agreement, the Depositor shall
repurchase such Receivable from the Issuer but only if the Originator shall in fact repurchase such
Receivable. The Depositor shall remit the purchase price paid by the Originator with respect to
such Receivable pursuant to Section 3.3 of this Agreement to or at the direction of the Issuer or
Indenture Trustee, as the case may be.

          (c) The sole remedy of the Issuer, the Owner Trustee, the Indenture Trustee, the Noteholders
or the Certificateholders with respect to a breach of any of the representations and warranties
referred to in Sections 2.3(a) and (b) shall be the repurchase of the related Receivables pursuant
to Section 2.3(a) or (b), as applicable.

          (d) Neither the Owner Trustee nor the Indenture Trustee shall have any duty to conduct an
affirmative investigation as to the occurrence of any condition requiring the

Sale and Servicing Agreement

2

 

repurchase of any Receivable pursuant to this Section 2.3 or the eligibility of any Receivable
for purposes of this Agreement.

          (e) With respect to all Receivables purchased pursuant to this Section 2.3, the Issuer shall
assign to the Depositor or the applicable Originator, as the case may be, without recourse,
representation or warranty, all of the Issuer’s right, title and interest in and to such
Receivables and all security and documents relating thereto.

     SECTION 2.4 Custody of Receivable Files. The Issuer hereby revocably appoints the
Servicer, and the Servicer hereby accepts such appointment, to act as the agent of the Issuer and
the Indenture Trustee as custodian of the following documents or instruments, which are hereby
constructively delivered to the Indenture Trustee, as pledgee of the Issuer pursuant to the
Indenture, with respect to each Receivable:

     (i) the original executed Receivable or, if no such original exists, a copy
thereof;

     (ii) the original credit application fully executed by the Obligor or a
photocopy thereof or a record thereof on a computer file, diskette or on microfiche;

     (iii) the original certificate of title or such documents that the related
Receivables Servicer keeps on file, in accordance with its customary procedures,
evidencing the security interest of the related Originator in the related Financed
Vehicle; and

     (iv) any and all other documents (including any computer file, diskette or
microfiche) that the Servicer or the related Receivables Servicer shall keep on
file, in accordance with its or the related Receivables Servicer’s customary
procedures, relating to a Receivable.

     The Servicer shall be permitted to appoint the applicable Receivables Servicer to hold the
documents and instruments relating to those Receivables for the benefit of the Issuer and the
Indenture Trustee. The Issuer and the Indenture Trustee shall have no responsibility to monitor
the Servicer’s (or the Receivables Servicers’) performance as custodian and shall have no liability
in connection with the Servicer’s (or the Receivables Servicers’) performance of such duties
hereunder.

     SECTION 2.5 Representations and Warranties as to the Security Interest of the Issuer in
the Receivables. The Depositor makes the following representations and warranties to the
Issuer and the Indenture Trustee. The representations and warranties speak as of the execution and
delivery of this Agreement and as of the Closing Date, and shall survive the sale of the Trust
Property to the Issuer and the pledge thereof to the Indenture Trustee pursuant to the Indenture.

          (a) This Agreement creates a valid and continuing security interest (as defined in the UCC) in
the Receivables in favor of the Issuer, which security interest is prior to all other Liens, and is
enforceable as such as against creditors of and purchasers from the Depositor.

Sale and Servicing Agreement

3

 

          (b) The Receivables constitute “tangible chattel paper” within the meaning of Article 9 of the
UCC.

          (c) Immediately prior to its transfer to the Issuer, each Receivable was free and clear of any
Lien created by the Depositor.

          (d) The Depositor has caused or will have caused, within ten days, the filing of all
appropriate financing statements in the proper filing office in the appropriate jurisdictions under
applicable law in order to perfect the security interest in the Receivables granted to the Issuer
hereunder. Each such financing statement will contain a statement to the following effect “A
purchase of or security interest in any collateral described in this financing statement will
violate the rights of the Secured Party.”

          (e) Other than the security interest granted to the Issuer pursuant to this Agreement, the
Depositor has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed
any of the Receivables. The Depositor has not authorized the filing of and is not aware of any
financing statements against the Depositor that include a description of collateral covering the
Receivables other than any financing statement relating to the security interest granted to the
Issuer hereunder or that has been terminated. The Depositor is not aware of any judgment or tax
lien filings against it.

          (f) The contracts that constitute or evidence the Receivables do not have any marks or
notations indicating that they have been pledged, assigned or otherwise conveyed to any Person
other than the Seller or the Issuer.

     Each of the parties hereto agrees that it shall not, without satisfaction of the Rating Agency
Condition, waive any of the representations and warranties in this Section 2.5.

ARTICLE III

ADMINISTRATION AND SERVICING OF RECEIVABLES AND TRUST PROPERTY

     SECTION 3.1 Duties of Servicer. The Servicer shall (or shall in accordance with
Section 6.5 require the Receivables Servicers to) manage, service, administer and make collections
on the Receivables with reasonable care, using that degree of skill and attention that the Servicer
(or the related Receivables Servicer) exercises with respect to all comparable new or used
automobile and light-duty truck receivables that it (or the related Receivables Servicer) services
for itself or others. The duties the Servicer shall be responsible to delegate to the Receivables
Servicers include collection and posting of all payments, responding to inquiries of Obligors on
such Receivables, investigating delinquencies, reporting tax information to Obligors and accounting
for collections. The Servicer shall follow its customary standards, policies and procedures in
performing its duties as Servicer or those standards of the applicable Receivables Servicer set
forth in the related Receivables Servicing Agreement. Without limiting the generality of the
foregoing, the Servicer is hereby (and each Receivables Servicer pursuant to its Receivables
Servicing Agreement is thereby) authorized and empowered to execute and deliver, on behalf of
itself (or the Servicer, in the case of a Receivables Servicer), the Issuer, the Owner Trustee, the
Indenture Trustee, the Noteholders, the Certificateholders, or any of them, any and

Sale and Servicing Agreement

4

 

all instruments of satisfaction or cancellation, or partial or full release or discharge, and
all other comparable instruments, with respect to such Receivables or to the Financed Vehicles
securing such Receivables. If the Servicer (or the related Receivables Servicer) shall commence a
legal proceeding to enforce a Receivable, the Issuer (in the case of a Receivable other than a
Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the
purpose of collection, such Receivable to the Servicer (or the related Receivables Servicer). If in
any enforcement suit or legal proceeding it shall be held that the Servicer (or the related
Receivables Servicer) may not enforce a Receivable on the ground that it is not a real party in
interest or a holder entitled to enforce the Receivable, the Issuer shall, at the Servicer’s
expense and direction (or, to the extent permitted in the related Receivables Servicing Agreement,
the related Receivables Servicer’s expense and direction), take steps to enforce the Receivable,
including bringing suit in its name or the names of the Indenture Trustee, the Noteholders, the
Certificateholders, or any of them. The Issuer shall furnish the Servicer (or the related
Receivables Servicer) with any powers of attorney and other documents reasonably necessary or
appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

     SECTION 3.2 Collection of Receivable Payments. The Servicer shall (or shall in
accordance with Section 6.5 require the related Receivables Servicer to) make reasonable efforts to
collect all payments called for under the terms and provisions of the Receivables as and when the
same shall become due and shall follow such collection procedures as it follows with respect to all
comparable new or used automobile and light-duty truck receivables that it services for itself and
others. To the extent the Indenture Trustee becomes aware of any breach by a Receivables Servicer,
the Indenture Trustee shall, to the extent legally entitled pursuant to the terms thereof, enforce
(or cause the enforcement of) the obligations of such Receivables Servicer under the related
Receivables Servicing Agreement in all material respects until such Receivables Servicing Agreement
has been terminated in accordance with its terms. Notwithstanding anything herein to the contrary,
the Servicer and Ford Credit, as a Receivables Servicer, shall not be required to make any
collection, repossession or liquidation efforts with respect to the Ford Credit Receivables after
January 28, 2012.

     SECTION 3.3 Realization Upon Receivables. On behalf of the Issuer, the Servicer shall
(or shall require the related Receivables Servicer to) use reasonable efforts, consistent with its
(or the related Receivables Servicer’s) customary standards, policies and procedures, to repossess
or otherwise convert the ownership of the Financed Vehicle securing any Receivable as to which the
Servicer (or the related Receivables Servicer) shall have determined to be uncollectible. The
Servicer shall (or shall require the related Receivables Servicer to) follow such customary
standards, policies and procedures as it (or the related Receivables Servicer) shall deem necessary
or advisable in its servicing of comparable receivables, which may include selling the Financed
Vehicle at public or private sale. The Servicer (or the related Receivables Servicer) shall be
entitled to recover from proceeds all reasonable expenses incurred by it in the course of
converting the Financed Vehicle into cash proceeds. The Liquidation Proceeds (net of such
expenses, if applicable) realized in connection with any such action with respect to a Receivable
shall be deposited by the Servicer (or the related Receivables Servicer) into the Collection
Account in the manner specified in Section 4.2 and shall be applied to reduce (or to satisfy, as
the case may be) the Purchase Amount of the Receivable, if such Receivable is to be repurchased by
the Depositor or a Seller pursuant to Section 2.3 or is to be purchased by the Servicer pursuant to
Section 3.6. The foregoing shall be subject to the provision that, in any case in which

Sale and Servicing Agreement

5

 

the Financed Vehicle shall have suffered damage, the Servicer (or the related Receivables
Servicer) shall not be required to expend funds in connection with the repair or the repossession
of such Financed Vehicle unless it shall determine in its discretion that such repair and/or
repossession will increase the Liquidation Proceeds by an amount greater than the amount of such
expenses.

     SECTION 3.4 Maintenance of Security Interests in Financed Vehicles. The Servicer
shall (or shall require the related Receivables Servicer to), in accordance with its (or the
related Receivables Servicer’s) customary procedures, take such steps as are necessary to maintain
perfection of the security interest created by each Receivable in the related Financed Vehicle. The
Issuer hereby authorizes the Servicer (or a Receivables Servicer) to take such steps as are
necessary to re-perfect such security interest on behalf of the Issuer and the Indenture Trustee in
the event of the relocation of a Financed Vehicle or for any other reason, in either case, when the
Servicer has knowledge of the need for such re-perfection.

     SECTION 3.5 Covenants of Servicer. The Servicer (or a Receivables Servicer) may grant
extensions, rebates, deferrals, amendments, modifications or adjustments on a Receivable in
accordance with its customary practices (or the servicing standard of the applicable Receivables
Servicer set forth in the related Receivables Servicing Agreement); provided, however, that the
Servicer will purchase such Receivable in the manner provided in Section 3.6 if the
Servicer (or a Receivables Servicer) does any of the following:

     (i) releases the Financed Vehicle securing any Receivable from the security
interest granted by such Receivable in whole or in part except in the event of
payment in full by or on behalf of the Obligor thereunder, satisfaction of the
payment obligation evidenced by such Receivable, repossession, discounted
settlement, abandonment or by operation of law, in each case in accordance with the
Servicer’s (or the applicable Receivables Servicer’s) customary standards, policies
and procedures,

     (ii) impairs the rights of the Issuer in the Receivables, or

     (iii) takes any other action with respect to a Receivable which results in a
repurchase by a Receivables Servicer of the Receivable under the applicable
Originator Agreement.

The Servicer (or any Receivables Servicer) may in its discretion waive any late payment charge or
any other fees that may be collected in the ordinary course of servicing a Receivable.
Notwithstanding anything in this Agreement to the contrary, the Servicer (or any Receivables
Servicer) may refinance any Receivable if the full Principal Balance of such Receivable is
deposited into the Collection Account, and the receivable created by such refinancing shall not be
property of the Issuer.

     SECTION 3.6 Purchase of Receivables Upon Breach. (a) Each of the Depositor, the
Servicer, the Issuer and the Indenture Trustee shall inform the other parties to this Agreement
promptly, in writing, upon the discovery by it of any breach of Section 3.4 or 3.5 which materially
and adversely affects the interest of the Issuer in any Receivable. Unless the breach

Sale and Servicing Agreement

6

 

shall have been cured by the last day of the second Collection Period following written notice
to the Indenture Trustee of such breach, the Servicer shall repurchase any Receivable, the interest
of the Issuer in which is materially and adversely affected by such breach as of such last day (or,
at the Servicer’s option, the last day of the first Collection Period following the discovery).
The Servicer shall remit the related Purchase Amount (less any Liquidation Proceeds deposited, or
to be deposited, in the Collection Account with respect to such Receivable pursuant to Section
3.3), in the manner specified in Section 4.4.

          (b) Each of the Depositor, the Servicer and the Issuer shall inform the other parties to this
Agreement promptly, in writing, upon the discovery by it of any action with respect to a Receivable
which results in a requirement by Ford Credit, Huntington or OSB to repurchase the Receivable.
Upon its receipt of notice as described in the preceding sentence, the Indenture Trustee shall
notify (or shall cause notice to be delivered to) Ford Credit, Huntington or OSB, as the case may
be, of such repurchase requirement and, unless the action requiring the repurchase shall have been
cured within the cure period specified in the applicable Originator Agreement, the Indenture
Trustee shall enforce (or cause the Depositor to enforce) the obligation of Ford Credit, Huntington
or OSB, as the case may be, to repurchase such Receivable. The Servicer shall cause the Purchase
Amount (less any Liquidation Proceeds deposited, or to be deposited, in the Collection Account with
respect to such Receivable pursuant to Section 3.3) from such purchase to be remitted in the manner
specified in Section 4.4.

          (c) The sole remedy of the Issuer, the Owner Trustee, the Indenture Trustee, the Noteholders
or the Certificateholders with respect to a breach of Section 3.4 or 3.5 shall be the repurchase of
the related Receivables pursuant to Section 3.6(a) or (b), as applicable.

          (d) Neither the Owner Trustee nor the Indenture Trustee shall have any duty to conduct an
affirmative investigation as to the occurrence of any condition requiring the repurchase of any
Receivable pursuant to this Section 3.6.

          (e) With respect to all Receivables purchased pursuant to this Section 3.6, the Issuer shall
assign to the Servicer, without recourse, representation or warranty, all of the Issuer’s right,
title and interest in and to such Receivables and all security and documents relating thereto.

     SECTION 3.7 Servicer Fees. The Servicer shall be entitled to the Net Servicing Fee,
which shall be payable as provided in Section 8.2 of the Indenture. The Receivables Servicers
shall be entitled to the Receivables Servicer Servicing Fee. To the extent that a Receivables
Servicer does not retain its Receivables Servicer Servicing Fee from collections on Receivables
serviced by it, the Servicer will pay any portion of that Receivables Servicer Servicing Fee that
is not so retained directly to that Receivables Servicer.

     SECTION 3.8 Monthly Noteholder Report. On or prior to the Determination Date for each
Payment Date, the Indenture Trustee will deliver to the Depositor, the Owner Trustee, each Note
Paying Agent and each Certificate Paying Agent, with a copy to the Rating Agencies, a report (the
“Monthly Noteholder Report”), based on Receivables information provided by SST, containing all
information necessary to make the transfers and distributions on each Payment Date pursuant to
Section 8.2 of the Indenture for the Collection Period preceding the date of such

Sale and Servicing Agreement

7

 

Monthly Noteholder Report and the written statements to be furnished by the Owner Trustee to
the Certificateholders pursuant to Section 4.7 hereof and by the Indenture Trustee to the
Noteholders pursuant to Section 4.7 hereof and Section 7.4 of the Indenture. SST will be
responsible for aggregating the monthly reports prepared by SST as a Receivables Servicer and the
other Receivables Servicers to the extent those reports are forwarded to SST by the Servicer or the
other Receivables Servicers; provided, however, that SST will not be liable for any incomplete
report to the extent that SST did not receive the information required to complete that report from
another Receivables Servicer. Neither the Servicer, the Issuer, SST, the Owner Trustee nor the
Indenture Trustee shall have any liability or responsibility for any inaccuracy in any Monthly
Noteholder Report resulting from any inaccuracy in any information provided by a Receivables
Servicer.

     SECTION 3.9 Annual Statement as to Compliance; Notice of Event of Servicing
Termination. (a) The Servicer shall deliver to the Owner Trustee, the Indenture Trustee and
each Rating Agency on or before March 31 of each year beginning March 31, 2006, an Officer’s
Certificate, dated as of December 31 of the preceding calendar year, stating that (i) a review of
the activities of the Servicer during the preceding 12-month period (or such shorter period in the
case of the first such certificate) and of its performance under this Agreement has been made under
such officer’s supervision and (ii) to the best of such officer’s knowledge, based on such review,
the Servicer has fulfilled all its obligations under this Agreement throughout such period, or, if
there has been a default in the fulfillment of any such obligation, specifying each such default
known to such officer and the nature and status thereof.

          (b) The Servicer shall deliver to the Owner Trustee, the Indenture Trustee and each Rating
Agency promptly after having obtained actual knowledge thereof, but in no event later than five (5)
Business Days thereafter, written notice in an Officer’s Certificate of any event which with the
giving of notice or lapse of time, or both, would become an Event of Servicing Termination under
Section 7.1.

     SECTION 3.10 Annual Independent Certified Public Accountant’s Report. The Servicer
shall cause a firm of independent certified public accountants, who may also render other services
to the Servicer, the Seller, the Depositor or the Receivables Servicers, to deliver to the Owner
Trustee and the Indenture Trustee on or before March 31 of each year beginning March 31, 2006 with
respect to the twelve months ended on the immediately preceding December 31 (or such shorter period
in the case of the first such report) a report to the effect that such firm has examined the
servicing functions of the Servicer for such period, including the applicable party’s procedures
and records relating to such party’s servicing of the Receivables under this Agreement and that, on
the basis of such examination, such firm is of the opinion that the applicable servicing by such
party has been conducted during such period in compliance with this Agreement, except for (a) such
exceptions as such firm believes to be immaterial and (b) such other exceptions as shall be set
forth in such firm’s report. In addition, such report shall set forth the procedures performed in
conjunction with the examination.

     The report will also indicate that the firm is independent of the Servicer (or a Receivables
Servicer, as applicable) within the meaning of the Code of Professional Ethics of the American
Institute of Certified Public Accountants.

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     In the event such independent certified public accountants require the Indenture Trustee to
agree to the procedures to be performed by such firm in the report required to be prepared pursuant
to this Section 3.10, the Servicer shall direct the Indenture Trustee in writing to so agree; it
being understood and agreed that the Indenture Trustee will deliver such letter of agreement in
conclusive reliance upon the direction of the Servicer, and the Indenture Trustee has not made any
independent inquiry or investigation as to, and shall have no obligation or liability in respect
of, the sufficiency, validity or correctness of such procedures.

     SECTION 3.11 Access to Certain Documentation and Information Regarding Receivables.
In each case subject to the Servicer’s rights to access under the related Receivables Servicing
Agreement, the Servicer shall provide to the Issuer and the Indenture Trustee access to the
Receivable Files without charge, but only upon reasonable request and during the normal business
hours at the offices of the Servicer or the respective offices of the Receivables Servicers, as
applicable. Nothing in this Section 3.11 shall affect the obligation of the Servicer to observe
any applicable law prohibiting disclosure of information regarding the Obligors, and the failure of
the Servicer to provide access to information as a result of such obligation shall not constitute a
breach of this Section 3.11.

     SECTION 3.12 Servicer Expenses. The Servicer shall be required to pay all expenses
incurred by it in connection with its activities hereunder, including fees, expenses (including
counsel fees and expenses) and disbursements of the independent accountants, taxes imposed on the
Servicer and expenses incurred in connection with distributions and reports to Noteholders and
Certificateholders, except that each Receivables Servicer will be entitled to any Supplemental
Servicing Fee.

     SECTION 3.13 Sarbanes-Oxley Act of 2002. To the extent permitted by applicable law
and the rules of the Securities and Exchange Commission as interpreted by the staff of the
Securities and Exchange Commission, the Depositor shall furnish in a timely manner for filing under
the Securities Exchange Act of 1934, as amended, the certification required by Section 302 of the
Sarbanes-Oxley Act of 2002 in respect of the Issuer.

ARTICLE IV

DISTRIBUTIONS; STATEMENTS TO NOTEHOLDERS AND CERTIFICATEHOLDERS

     SECTION 4.1 Accounts. (a) Prior to the Closing Date there shall have been established
(i) the Ford Credit Deposit Account, to which Ford Credit has agreed to deposit collections on the
Ford Credit Receivables, as more specifically described in the Ford Credit Servicing Agreement,
(ii) a Huntington Deposit Account, to which Huntington has been directed to remit collections on
the Huntington Receivables in accordance with the Huntington Purchase and Servicing Agreement and
(iii) a SST Deposit Account, to which SST shall deposit collections on the OSB Receivables, as more
specifically described in the SST Servicing Agreement. Each of the forgoing deposit accounts were
established and shall initially be maintained with the Depository Institution. On the Business Day
prior to each Payment Date, the Indenture Trustee is hereby instructed to withdraw from each such
deposit account for deposit into the Collection Account the Available Collections for the related
Collection Period. All monies owned by the Issuer deposited from time to time in the foregoing
deposit accounts shall be held by the

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Depository Institution for the benefit of the Noteholders and, after payment in full of the
Notes, as agent of the Issuer and as part of the Trust Property; provided, however, that all monies
owned by the Seller or other third parties deposited from time to time in the foregoing deposit
accounts shall not be so held and shall not be available for deposit into the Collection Account
and shall not be available to make payments in respect of the Notes or the Certificates.

          (b) The Indenture Trustee shall, prior to the Closing Date, cause to be established and
maintained two Eligible Deposit Accounts in the name “JPMorgan Chase Bank, National Association, as
Indenture Trustee and as secured party for GS Auto Loan Trust 2005-1”, initially at the corporate
trust department of the Indenture Trustee, which shall be designated as the “Collection Account”
and the “Principal Distribution Account,” respectively. The Collection Account and the Principal
Distribution Account shall be under the sole dominion and control of the Indenture Trustee. In
addition, the Collection Account and the Principal Distribution Account shall be established and
maintained at an institution which agrees in writing that for so long as the Notes are outstanding
it will comply with entitlement orders (as defined in Article 8 of the UCC) originated by the
Indenture Trustee without further consent of the Issuer. All monies deposited from time to time in
the Collection Account and the Principal Distribution Account shall be held by the Indenture
Trustee as secured party for the benefit of the Indenture Secured Parties and, after payment in
full of the Notes, as agent of the Issuer and as part of the Trust Property. All deposits to and
withdrawals from the Collection Account and the Principal Distribution Account shall be made only
upon the terms and conditions of the Basic Documents.

          (c) All amounts held in the Collection Account and the Principal Distribution Account shall,
to the extent permitted by applicable law, rules and regulations, be invested, as directed in
writing by the Servicer, by the depository institution or trust company then maintaining the
Collection Account and the Principal Distribution Account in specified Permitted Investments that
mature not later than the second Business Day immediately prior to the Payment Date (or if the
Rating Agency Condition is satisfied, not later than such Payment Date) for the Collection Period
to which such amounts relate and such Permitted Investments shall be held to maturity. The
Indenture Trustee shall not be liable for investment losses in Permitted Investments made in
accordance with directions from the Servicer. In the event that the Collection Account or the
Principal Distribution Account is no longer to be maintained at the corporate trust department of
the Indenture Trustee, the Indenture Trustee shall cause an Eligible Deposit Account to be
established as the Collection Account or Principal Distribution Account, as applicable, within ten
(10) Business Days (or such longer period not to exceed thirty (30) calendar days as to which each
Rating Agency may consent).

          (d) The Indenture Trustee shall, prior to the Closing Date, cause an Eligible Deposit Account
to be established and maintained, in the name “GS Auto Loan Trust 2005-1 Certificate Distribution
Account”, initially at the corporate trust department of the Indenture Trustee, which shall be
designated as the “Certificate Distribution Account”. The Certificate Distribution Account shall
be under the sole dominion and control of the Owner Trustee. All monies deposited from time to
time in the Certificate Distribution Account pursuant to this Agreement and the Indenture shall be
held by the Owner Trustee as part of the Trust Property and shall be applied as provided in the
Basic Documents. In the event that the Certificate Distribution Account is no longer to be
maintained at the corporate trust department of the

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Indenture Trustee, the Indenture Trustee shall cause an Eligible Deposit Account to be
established as the Certificate Distribution Account within ten (10) Business Days (or such longer
period not to exceed thirty (30) calendar days as to which each Rating Agency may consent) and
shall give written notice of the location and account number of such account to the Owner Trustee.

     SECTION 4.2 Collections. Upon the Indenture Trustee becoming aware or receiving
notice of the failure of a Receivables Servicer to remit Collections in accordance with the terms
of the applicable Receivables Servicing Agreement, the Indenture Trustee shall enforce the
obligation of each Receivables Servicer to remit Collections in accordance with the terms of the
applicable Receivables Servicing Agreement. Unless the Rating Agency Condition has been satisfied,
the Servicer shall not consent to any amendment to a Receivables Servicing Agreement which would
delay the timing for remitting Collections received by a Receivables Servicer under the related
Receivables Servicing Agreement.

     SECTION 4.3 Application of Collections. For the purposes of this Agreement, all
collections for the Collection Period with respect to each Receivable (other than a Purchased
Receivable) shall be applied in accordance with the customary practices of the related Receivables
Servicer or, if such Receivables Servicer is no longer engaged by the Servicer, the customary
practice of the Servicer.

     SECTION 4.4 Additional Deposits. The Depositor and the Servicer shall deposit (or
cause the deposit of) in the Collection Account the aggregate Purchase Amount with respect to
Purchased Receivables pursuant to Sections 2.3 and 3.6, respectively, and the Servicer shall
deposit therein all amounts to be paid under Section 8.1. All such deposits with respect to a
Collection Period shall be made, in immediately available funds, on the Payment Date related to
such Collection Period. For so long as Goldman Sachs Mortgage Company is the servicer, on the
Business Day before each Payment Date, the Servicer will deposit into the Collection Account the
Receivables Servicer Supplemental Payment Amount, if any, for that Payment Date.

     SECTION 4.5 Distributions. On each Payment Date, the Indenture Trustee shall (based
on the information contained in the Monthly Noteholder Report delivered on or before the related
Determination Date) make withdrawals from the Collection Account and make deposits, distributions
and payments, to the extent of Available Funds for such Payment Date, in the manner and order of
priority set forth in Section 8.2 of the Indenture.

     SECTION 4.6 Net Deposits. If Goldman Sachs Mortgage Company is not the Servicer,
remittances pursuant to Sections 4.2 and 4.4 above may be made net of the Net Servicing Fee.
Nonetheless, the Indenture Trustee shall account for all of the above described remittances and
distributions in the Monthly Noteholder Report as if the amounts were deposited and/or transferred
separately.

     SECTION 4.7 Statements to Noteholders and Certificateholders. On each Payment Date,
the Indenture Trustee shall provide to each Noteholder of record as of the most recent Record Date
(with copies to the Rating Agencies and each Note Paying Agent) and shall provide a hard copy of
the Monthly Noteholder Report to the Owner Trustee for distribution to each Certificateholder
pursuant to Section 5.05 of the Trust Agreement, setting forth for the

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Collection Period relating to such Payment Date the following information as to the Notes and
the Certificates to the extent applicable:

     (i) the amount of such distribution allocable to principal allocable to the
Notes and to the Certificates;

     (ii) the amount of such distribution allocable to interest allocable to the
Notes and the Certificates;

     (iii) the Pool Balance and the Pool Factor as of the close of business on the
last day of the preceding Collection Period;

     (iv) the amount of the Net Servicing Fee paid to the Servicer with respect to
the related Collection Period and the amount of any unpaid Net Servicing Fees and
the change in such amount from that of the prior Payment Date;

     (v) the Receivables Servicer Supplement Payment Amount, if any, for the Payment
Date;

     (vi) the aggregate outstanding principal amount of each Class of Notes and the
Note Factor for each Class of Notes;

     (vii) the amount of any previously due and unpaid payment of principal or
interest of each Class of Notes, and the change in such amount from that of the
prior Payment Date;

     (viii) the Three-Month Annualized Net Loss Ratio;

     (ix) the aggregate Purchase Amount of Receivables repurchased pursuant to
Section 2.3 or purchased pursuant to Section 3.6, if any, with respect to the
related Collection Period; and

     (x) the aggregate amount of Receivables which became Liquidated Receivables
during the related Collection Period.

     Each amount set forth on the Payment Date statement pursuant to clauses (i) and (ii) above
shall be expressed as a dollar amount per $1,000 of original principal amount of a Note or original
Certificate Balance of a Certificate, as applicable.

     The Indenture Trustee will make the Monthly Noteholder Report available to each Noteholder via
the Indenture Trustee’s internet website, and, with the consent or at the direction of the Issuer,
such other information regarding the notes and/or receivables as the Indenture Trustee may have in
its possession, but only with the use of a password provided by the Indenture Trustee.

     The Indenture Trustee’s internet website will be initially located at “www.jpmorgan.com/sfr”
or at such other address as will be specified by the Indenture Trustee

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from time to time in writing to the Noteholders and the Owner Trustee. In connection with
providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require
registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the
dissemination of information in accordance with the foregoing.

     SECTION 4.8 Subcertifications of Indenture Trustee in Connection with Sarbanes-Oxley
Certifications. No later than ten (10) Business Days prior to the date on which any Annual
Report on Form 10-K with respect to the Issuer is required to be filed, the Indenture Trustee shall
deliver to the Depositor an officer’s certificate in the form set forth in Appendix B. The
Indenture Trustee shall prepare or cause to be prepared for filing with the Securities and Exchange
Commission (other than the initial Current Report on Form 8-K to be filed by the Depositor in
connection with the issuance of the Securities) and the Depositor and the Servicer, or either of
them, shall sign and certify any and all reports, statements and information respecting the Issuer
and/or the Notes required to be filed, pursuant to the Securities Exchange Act of 1934, as amended,
and the rules thereunder (“1934 Act Documents”). Upon execution and certification of the
1934 Act Documents by the Depositor or the Servicer, as applicable, the Indenture Trustee shall
file such documents with the Securities and Exchange Commission. Unless otherwise advised by the
Depositor, the Indenture Trustee shall assume that all 1934 Act Documents shall consist of only the
following: Form 8-K reports attaching the related Monthly Noteholder Report to be filed each month
beginning in September 2005 through January 2006, a Form 15D to be filed in January 2006
(provided, however, that if the criteria for filing a Form 15D is not met, the
Indenture Trustee shall continue filing the monthly and annual forms), and a Form 10-K to be filed
in March 2006. The Indenture Trustee shall promptly file, and exercise its reasonable best efforts
to obtain a favorable response to, no-action requests with, or other appropriate exemptive relief
from the Securities and Exchange Commission seeking the usual and customary exemption from such
reporting requirements granted to issuers of securities similar to the Notes if and to the extent
the Depositor shall deem any such relief to be necessary or appropriate. Unless otherwise advised
by the Depositor, the Indenture Trustee shall assume that the Depositor is in compliance with the
preceding sentence. In no event shall the Indenture Trustee have any liability for the execution
or content of any 1934 Act Documents.

ARTICLE V

THE DEPOSITOR

     SECTION 5.1 Representations, Warranties and Covenants of Depositor. The Depositor
makes the following representations and warranties on which the Issuer is deemed to have relied in
acquiring the Trust Property. The representations and warranties speak as of the Closing Date and
shall survive the conveyance of the Trust Property by the Depositor to the Issuer and the pledge
thereof by the Issuer to the Indenture Trustee pursuant to the Indenture:

     (i) Organization and Good Standing. The Depositor is duly organized
and validly existing as a corporation in good standing under the laws of the State
of Delaware, with the corporate power and authority to own its properties and to
conduct its business as such properties are currently owned and such business is
presently conducted.

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     (ii) Power and Authority. The Depositor has the corporate power and
authority to execute and deliver this Agreement and the other Basic Documents to
which it is a party and to carry out their respective terms; the Depositor has full
power and authority to sell and assign the property to be sold, and assigned to and
deposited with the Issuer, and the Depositor shall have duly authorized such sale
and assignment to and deposit with the Issuer by all necessary corporate action; and
the execution, delivery, and performance of this Agreement and the other Basic
Documents to which the Depositor is a party have been duly authorized, executed and
delivered by the Depositor by all necessary corporate action.

     (iii) Binding Obligations. This Agreement, when duly executed and
delivered by the other parties hereto, constitutes a legal, valid, and binding
obligation of the Depositor enforceable against the Depositor in accordance with its
terms, except as the enforceability hereof may be limited by bankruptcy, insolvency,
reorganization, or other similar laws now or hereafter in effect relating to or
affecting creditors’ rights in general and by general principles of equity,
regardless of whether such enforceability is considered in a proceeding in equity or
at law.

     (iv) No Violation. The consummation of the transactions contemplated
by this Agreement and the other Basic Documents to which the Depositor is a party
and the fulfillment of the terms hereof and thereof do not (i) conflict with, result
in any breach of any of the terms and provisions of, or constitute (with or without
notice or lapse of time) a default under, the certificate of incorporation or
by-laws of the Depositor, or conflict with or breach any of the material terms or
provisions of, or constitute (with or without notice or lapse of time) a default
under, any indenture, agreement, or other instrument to which the Depositor is a
party or by which it is bound, (ii) result in the creation or imposition of any Lien
upon any of its properties pursuant to the terms of any such indenture, agreement,
or other instrument, other than the Liens created by this Agreement or any other
Basic Document, or (iii) violate any law or, to the best of the Depositor’s
knowledge, any order, rule, or regulation applicable to the Depositor of any court
or of any federal or state regulatory body, administrative agency, or other
governmental instrumentality having jurisdiction over the Depositor.

     (v) No Proceedings. There are no legal or governmental proceedings
pending, or, to the best of the Depositor’s knowledge, threatened, before any court,
regulatory body, administrative agency, or other governmental instrumentality having
jurisdiction over the Depositor or its properties (i) asserting the invalidity of
this Agreement or any of the other Basic Documents, (ii) seeking to prevent the
issuance of the Securities or the consummation of any of the transactions
contemplated by this Agreement or the other Basic Documents, (iii) seeking any
determination or ruling that would reasonably be expected to materially and
adversely affect the performance by the Depositor of its obligations under, or the
validity or enforceability of, this Agreement, any of the other Basic Documents or
the Securities or (iv) relating to the Depositor and

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     which would reasonably be expected to adversely affect the federal income tax
attributes of the Securities.

     SECTION 5.2 Liability of Depositor; Indemnities. The Depositor shall be liable in
accordance herewith only to the extent of the obligations specifically undertaken by the Depositor
under this Agreement (which shall not include distributions on account of the Notes or the
Certificates).

     SECTION 5.3 Merger or Consolidation of, or Assumption of the Obligations of Depositor.
Any Person (i) into which the Depositor may be merged or consolidated, (ii) resulting from any
merger, conversion, or consolidation to which the Depositor shall be a party, or (iii) succeeding
to the business of the Depositor, which Person in any of the foregoing cases executes an agreement
of assumption to perform every obligation of the Depositor under this Agreement, will be the
successor to the Depositor under this Agreement without the execution or filing of any document or
any further act on the part of any of the parties to this Agreement. The Depositor shall provide
notice of any merger, conversion, consolidation, or succession pursuant to this Section 5.3 to the
Rating Agencies, the Owner Trustee and the Indenture Trustee.

     SECTION 5.4 Limitation on Liability of Depositor and Others. The Depositor and any
director, officer, employee or agent of the Depositor may rely in good faith on the advice of
counsel or on any document of any kind, prima facie properly executed and submitted by any Person
respecting any matters arising hereunder. The Depositor shall not be under any obligation to
appear in, prosecute, or defend any legal action that shall not be incidental to its obligations
under this Agreement, and that in its opinion may involve it in any expense or liability.

     SECTION 5.5 Depositor May Own Notes or Certificates. The Depositor, and any Affiliate
of the Depositor, may in its individual or any other capacity become the owner or pledgee of Notes
or Certificates with the same rights as it would have if it were not the Depositor or an Affiliate
thereof, except as otherwise expressly provided herein or in the other Basic Documents.

     SECTION 5.6 Sarbanes-Oxley Certifications.

          (a) The Depositor or Servicer shall provide on a timely basis for filing with the 1934 Act
Documents, the certification required by Section 302 of the Sarbanes-Oxley Act to be included in
those reports. The Depositor and the Servicer, or either of them, is authorized to file such
certification or any other 1934 Act Document on behalf of the Issuer.

          (b) To the extent any reports or documents are required to be filed or any other certification
is required to be made with respect to the Issuer, the Notes or the Certificates pursuant to the
Sarbanes-Oxley Act, the Depositor or the Servicer shall prepare and execute any such report,
document or certification and the Depositor and the Servicer, or either of them, is authorized to
file such report, document or certification on behalf of the Issuer.

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ARTICLE VI

THE SERVICER

     SECTION 6.1 Representations of Servicer. The Servicer makes the following
representations on which the Issuer is deemed to have relied in acquiring the Trust Property. The
representations speak as of the Closing Date of this Agreement and shall survive the conveyance of
the Trust Property to the Issuer and the pledge thereof by the Issuer pursuant to the Indenture:

          (a) Organization and Good Standing. The Servicer is duly organized and validly
existing as a limited partnership in good standing under the laws of the State of New York, with
the limited partnership power and authority to own its properties and to conduct its business as
such properties are currently owned and such business is presently conducted.

          (b) Power and Authority. The Servicer has the limited partnership power and authority
to execute and deliver this Agreement and the other Basic Documents to which it is a party and to
carry out their respective terms; and the execution, delivery, and performance of this Agreement
and the other Basic Documents to which it is a party have been duly authorized, executed and
delivered by the Servicer by all necessary limited partnership action.

          (c) Binding Obligations. This Agreement, when duly executed by the other parties
hereto, constitutes a legal, valid, and binding obligation of the Servicer enforceable against the
Servicer in accordance with its terms, except as the enforceability hereof may be limited by
bankruptcy, insolvency, reorganization or other similar laws now or hereafter in effect relating to
or affecting creditors’ rights in general and by general principles of equity, regardless of
whether such enforceability is considered in a proceeding in equity or at law.

          (d) No Violation. The consummation of the transactions contemplated by this Agreement
and the other Basic Documents to which the Servicer is a party and the fulfillment of the terms
hereof and thereof do not (i) conflict with, result in any breach of any of the terms and
provisions of, nor constitute (with or without notice or lapse of time) a default under, the
limited partnership agreement of the Servicer, or conflict with or breach any of the material terms
or provisions of, or constitute (with or without notice or lapse of time) a default under, any
indenture, agreement, or other instrument to which the Servicer is a party or by which it is bound,
(ii) result in the creation or imposition of any Lien upon any of its properties pursuant to the
terms of any such indenture, agreement, or other instrument, other than Liens created by this
Agreement or any other Basic Document or (iii) violate any law or, to the best of the Servicer’s
knowledge, any order, rule, or regulation applicable to the Servicer of any court or of any federal
or state regulatory body, administrative agency, or other governmental instrumentality having
jurisdiction over the Servicer.

          (e) No Proceedings. There are no legal or governmental proceedings pending, or to the
best of the Servicer’s knowledge, threatened, before any court, regulatory body, administrative
agency, or other governmental instrumentality having jurisdiction over the Servicer or its
properties (i) asserting the invalidity of this Agreement, any of the other Basic Documents, (ii)
seeking to prevent the issuance of the Securities or the consummation of any of the transactions
contemplated by this Agreement or the other Basic Documents, (iii) seeking any

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determination or ruling that would reasonably be expected to materially and adversely affect
the performance by the Servicer of its obligations under, or the validity or enforceability of,
this Agreement, any of the other Basic Documents or the Securities, or (iv) relating to the
Servicer and which would reasonably be expected to adversely affect the federal income tax
attributes of the Securities.

     SECTION 6.2 Indemnities of Servicer. The Servicer shall be liable in accordance
herewith only to the extent of the obligations specifically undertaken by the Servicer under this
Agreement, and hereby agrees to the following:

          (a) The Servicer shall defend, indemnify and hold harmless the Issuer, the Owner Trustee, the
Indenture Trustee, the Noteholders, the Certificateholders and the Depositor from and against any
and all costs, expenses, losses, damages, claims and liabilities, arising out of or resulting from
the use, ownership or operation by the Servicer or any Affiliate thereof of a Financed Vehicle.

          (b) Indemnification under this Section 6.2 by Goldman Sachs Mortgage Company (or any successor
thereto pursuant to Section 7.2) as Servicer, with respect to the period such Person was the
Servicer, shall survive the termination of such Person as Servicer or a resignation by such Person
as Servicer as well as the termination of this Agreement or the resignation or removal of the Owner
Trustee or the Indenture Trustee and shall include reasonable fees and expenses of counsel and
expenses of litigation. If the Servicer shall have made any indemnity payments pursuant to this
Section 6.2 and the Person to or on behalf of whom such payments are made thereafter shall collect
any of such amounts from others, such Person shall promptly repay such amounts to the Servicer,
without interest.

     SECTION 6.3 Merger or Consolidation of, or Assumption of the Obligations of Servicer.
Any Person (i) into which the Servicer may be merged or consolidated, (ii) resulting from any
merger, conversion, or consolidation to which the Servicer shall be a party, (iii) succeeding to
the business of the Servicer or (iv) 50% or more of the equity of which is owned, directly or
indirectly, by Goldman, Sachs & Co., which Person in any of the foregoing cases executes an
agreement of assumption to perform every obligation of the Servicer under this Agreement, will be
the successor to the Servicer under this Agreement without the execution or filing of any paper or
any further act on the part of any of the parties to this Agreement. The Servicer shall provide
notice of any merger, conversion, consolidation or succession pursuant to this Section 6.3 to the
Rating Agencies and the Indenture Trustee.

     SECTION 6.4 Limitation on Liability of Servicer and Others. (a) Neither the Servicer
nor the general partner or any limited partner under the Servicer’s limited partnership agreement
or any of the directors or officers or employees or agents of the Servicer, the general partner or
any limited partner under the Servicer’s limited partnership agreement shall be under any liability
to the Issuer, the Indenture Trustee, the Owner Trustee, the Noteholders or the Certificateholders,
except as expressly provided under this Agreement, for any action taken or for refraining from the
taking of any action pursuant to this Agreement or for errors in judgment; provided, however, that
this provision shall not protect the Servicer or any such Person against any liability that would
otherwise be imposed by reason of willful misfeasance or bad faith in the performance of duties or
by reason of reckless disregard of its obligations and duties under this

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Agreement, or by reason of gross negligence in the performance of its duties under this
Agreement (except for errors in judgment). The Servicer and any director, officer or employee or
agent of the Servicer may rely in good faith on any Opinion of Counsel or on any Officer’s
Certificate of the Depositor or certificate of auditors believed to be genuine and to have been
signed by the proper party in respect of any matters arising under this Agreement.

          (b) Except as provided in this Agreement, the Servicer shall not be under any obligation to
appear in, prosecute, or defend any legal action that shall not be incidental to its duties to
service the Receivables in accordance with this Agreement, and that in its opinion may cause it to
incur any expense or liability; provided, however, that the Servicer may undertake any reasonable
action that it may deem necessary or desirable in respect of this Agreement, the rights and duties
of the parties to this Agreement and the interests of the Noteholders and Certificateholders under
this Agreement. In such event, the legal expenses and costs of such action and any liability
resulting therefrom shall be expenses, costs and liabilities of the Issuer, and the Servicer shall
be entitled to be reimbursed therefor. Any amounts due the Servicer pursuant to this subsection
shall be payable on a Payment Date from the Available Funds on deposit in the Collection Account
only after all payments required to be made on such date to the Noteholders, the
Certificateholders, the Owner Trustee, the Indenture Trustee and the Servicer have been made.

          (c) The Servicer, the general partner and each limited partner under the Servicer’s limited
partnership agreement and any director or officer or employee or agent of the Servicer, the general
partner and each limited partner under the Servicer’s limited partnership agreement shall be
indemnified by the Issuer and held harmless against any loss, liability, or expense including
reasonable attorneys’ fees and expenses incurred in connection with any legal action relating to
the performance of the Servicer’s duties under this Agreement, other than (i) any loss or liability
otherwise reimbursable pursuant to this Agreement; (ii) any loss, liability, or expense incurred
solely by reason of the Servicer’s willful misfeasance, negligence, or bad faith in the performance
of its duties hereunder or by reason of reckless disregard of its obligations and duties under this
Agreement; and (iii) any loss, liability, or expense for which the Issuer is to be indemnified by
the Servicer under this Agreement. Any amounts due the Servicer pursuant to this subsection shall
be payable on a Payment Date from the Available Funds on deposit in the Collection Account only
after all payments required to be made on such date to the Noteholders, the Certificateholders, the
Owner Trustee and the Indenture Trustee have been made.

     SECTION 6.5 Subservicing and Delegation of Duties. The Servicer may, at any time
without notice or consent, delegate (a) any or all of its duties (including, without limitation,
its duties as custodian) under the Basic Documents to any of its Affiliates or (b) specific duties
to sub-contractors who are in the business of performing such duties; provided that no such
delegation shall relieve the Servicer of its responsibility with respect to such duties and the
Servicer shall remain obligated and liable to the Issuer and the Indenture Trustee for its duties
hereunder as if the Servicer alone were performing such duties.

     Without limiting the generality of the preceding paragraph, each of the Receivables Servicers
will be subservicers pursuant to the terms and conditions of the applicable Receivables Servicing
Agreement. The Issuer and the Servicer shall permit Ford Credit to repurchase Ford Credit
Receivables that are Liquidated Receivables under the Ford Credit Servicing Agreement

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on the date such Ford Credit Receivables became Liquidated Receivables in return for a
deferred repurchase amount equal to Liquidation Proceeds for such Ford Credit Receivables.

     SECTION 6.6 Servicer Not to Resign as Servicer; Resignation and Termination of Receivables
Servicers. (a) Subject to the provisions of Section 6.3, the Servicer shall not resign from
its obligations and duties under this Agreement except upon the mutual consent of the Servicer, the
Indenture Trustee and the Owner Trustee or upon the determination that the performance of its
duties under this Agreement shall no longer be permissible under applicable law. Notice of any
such determination permitting the resignation of the Servicer shall be communicated to the Owner
Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is
not in writing, shall be confirmed in writing at the earliest practicable time) and any such
determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Owner
Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such
resignation shall become effective until the Indenture Trustee or a Successor Servicer shall have
(i) taken the actions required by Section 7.1(b) and (ii) assumed the responsibilities and
obligations of the Servicer in accordance with Section 7.2.

          (b) The Receivables Servicing Agreement with any Receivables Servicer may be terminated upon
the terms and conditions set forth in such agreement.

     SECTION 6.7 Servicer May Own Notes or Certificates. The Servicer, and any Affiliate
of the Servicer, may, in its individual or any other capacity, become the owner or pledgee of Notes
or Certificates with the same rights as it would have if it were not the Servicer or an Affiliate
thereof, except as otherwise expressly provided herein or in the other Basic Documents. Except as
set forth herein or in the other Basic Documents, Notes and Certificates so owned by or pledged to
the Servicer or such Affiliate shall have an equal and proportionate benefit under the provisions
of this Agreement, without preference, priority or distinction as among all of the Notes and
Certificates.

ARTICLE VII

SERVICING TERMINATION

     SECTION 7.1 Events of Servicing Termination. (a) If any one of the following events
(“Events of Servicing Termination”) shall occur and be continuing:

     (i) Any failure by the Servicer to deliver to the Indenture Trustee any payment
required to be so delivered by the Servicer under the terms of this Agreement that
shall continue unremedied for a period of ten (10) Business Days after written
notice of such failure is received by the Servicer from the Owner Trustee or the
Indenture Trustee; or

     (ii) Failure on the part of the Servicer duly to observe or to perform in any
material respect any other covenants or agreements, as the case may be, set forth in
this Agreement, which failure shall (A) materially and adversely affect the rights
of Noteholders or Certificateholders and (B) continue unremedied for a period of
ninety (90) days after the date on which written notice of such failure,

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requiring the same to be remedied, shall have been given (1) to the Servicer by
the Owner Trustee or the Indenture Trustee or (2) to the Owner Trustee, the
Indenture Trustee and the Servicer by the Noteholders of Notes evidencing not less
than a majority of the principal amount of the Outstanding Notes or, if no Notes are
Outstanding, by holders of Certificates evidencing Percentage Interests aggregating
at least a majority; or

     (iii) So long as a depository institution is not the Servicer, the entry of a
decree or order by a court or agency or supervisory authority having jurisdiction in
the premises for the appointment of a conservator, receiver, or liquidator for the
Servicer or, if Goldman Sachs Mortgage Company is the Servicer, Goldman Sachs Real
Estate Funding Corp. (or its successor in interest) in any insolvency, readjustment
of debt, marshalling of assets and liabilities, or similar proceedings, or for the
winding up or liquidation of its respective affairs, and the continuance of any such
decree or order unstayed and in effect for a period of ninety (90) consecutive days;
or

     (iv) So long as a depository institution is not the Servicer, the consent by
the Servicer or, if Goldman Sachs Mortgage Company is the Servicer, Goldman Sachs
Real Estate Funding Corp. (or its successor in interest) to the appointment of a
conservator or receiver or liquidator in any insolvency, readjustment of debt,
marshalling of assets and liabilities, or similar proceedings of or relating to the
Servicer (or Goldman Sachs Real Estate Funding Corp. (or its successor in interest),
as applicable) of or relating to substantially all of its property; or the Servicer
or, if Goldman Sachs Mortgage Company is the Servicer, Goldman Sachs Real Estate
Funding Corp. (or its successor in interest) shall admit in writing its inability
to pay its debts generally as they become due, file a petition to take advantage of
any applicable insolvency or reorganization statute, make an assignment for the
benefit of its creditors, or voluntarily suspend payment of its obligations or
become insolvent;

     then the Indenture Trustee shall promptly notify each Rating Agency, and in each and
every case, so long as an Event of Servicing Termination shall not have been remedied,
either the Indenture Trustee or the holders of Notes evidencing not less than a majority of
the principal amount of the Notes Outstanding (or, if no Notes are Outstanding, Certificates
evidencing Percentage Interests aggregating at least a majority), by notice then given in
writing to the Servicer (and to the Indenture Trustee and the Owner Trustee if given by the
Noteholders and to the Owner Trustee if given by the Certificateholders and in each case
with a copy to the Rating Agencies) may terminate all of the rights and obligations of the
Servicer under this Agreement. On or after the receipt by the Servicer of such written
notice, all authority and power of the Servicer under this Agreement, whether with respect
to the Notes, the Certificates or the Trust Property or otherwise, shall pass to and be
vested in the Indenture Trustee or such Successor Servicer as may be appointed under Section
7.2; and, without limitation, the Indenture Trustee and the Owner Trustee are hereby
authorized and empowered to execute and deliver, on behalf of the predecessor Servicer, as
attorney-in-fact or otherwise, any and all documents and other instruments, and to do or
accomplish all other acts or things

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necessary or appropriate to effect the purposes of such notice of termination, whether
to complete the transfer and endorsement of the Receivables and related documents, or
otherwise. Notwithstanding the foregoing, a delay or failure of performance referred to
under clauses (i) and (ii) above for a period of 150 days will not constitute an Event of
Servicing Termination if such delay or failure was caused by force majeure or other similar
occurrence.

          (b) Upon termination of the Servicer under Section 7.1(a), the predecessor Servicer shall
cooperate with the Indenture Trustee, the Owner Trustee and such Successor Servicer in effecting
the termination of the responsibilities and rights of the predecessor Servicer under this
Agreement, including the transfer to the Indenture Trustee or such Successor Servicer for
administration of all cash amounts that shall at the time be held by the predecessor Servicer for
deposit, or shall thereafter be received with respect to a Receivable and the delivery of the
Receivable Files and the related accounts and records to the extent maintained by the Servicer.
All reasonable costs and expenses (including attorneys’ fees) incurred in connection with
transferring the Receivable Files to the Successor Servicer and amending this Agreement to reflect
such succession as Servicer pursuant to this Section 7.1 shall be paid by the predecessor Servicer
upon presentation of reasonable documentation of such costs and expenses. To the extent such costs
and expenses are not paid by the predecessor servicer, such costs and expenses shall be paid by the
Issuer.

          (c) Upon termination of the Servicer under Section 7.1(a), the Successor Servicer shall
service the Ford Credit Receivables, the Huntington Receivables and the OSB Receivables through the
applicable Receivables Servicing Agreement, unless the applicable Receivables Servicing Agreement
has been terminated pursuant to the terms and conditions set forth therein.

     SECTION 7.2 Appointment of Successor Servicer. (a) Upon the Servicer’s receipt of
notice of termination pursuant to Section 7.1 or the Servicer’s resignation in accordance with the
terms of this Agreement, the predecessor Servicer shall continue to perform its functions as
Servicer under this Agreement, in the case of termination, only until the date specified in such
termination notice or, if no such date is specified in a notice of termination, until receipt of
such notice and, in the case of resignation, until the later of (x) the date 45 days from the
delivery to the Indenture Trustee and the Owner Trustee of written notice of such resignation (or
written confirmation of such notice) in accordance with the terms of this Agreement and (y) the
date upon which the predecessor Servicer shall become unable to act as Servicer, as specified in
the notice of resignation and accompanying Opinion of Counsel. In the event of the Servicer’s
resignation or termination hereunder, the Indenture Trustee shall appoint a Successor Servicer, and
the Successor Servicer shall accept its appointment by a written assumption in form acceptable to
the Owner Trustee and the Indenture Trustee (with a copy to each Rating Agency). In the event that
a Successor Servicer has not been appointed at the time when the predecessor Servicer has ceased to
act as Servicer in accordance with this Section 7.2, the Indenture Trustee without further action
shall automatically be appointed the Successor Servicer. The Indenture Trustee may resign as the
Servicer by giving written notice of such resignation to the Issuer and in such event shall be
released from such duties and obligations, such release not to be effective until the date a
Successor Servicer enters into a written assumption as provided in this Section. Upon delivery of
any such notice to the Issuer, the Issuer shall obtain a new servicer as the

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Successor Servicer in accordance with this Section. Notwithstanding the above, if the
Indenture Trustee shall be legally unable so to act or if, within 30 days after the delivery of its
notice of resignation, the Issuer shall not have obtained a Successor Servicer, the Indenture
Trustee shall appoint, or petition a court of competent jurisdiction to appoint, any established
institution, having a net worth of not less than $100,000,000 and whose regular business shall
include the servicing of automotive receivables, as the successor to the Servicer under this
Agreement; provided that the Rating Agency Condition shall be satisfied in connection with such
appointment.

          (b) Upon appointment, the Successor Servicer shall be the successor in all respects to the
predecessor Servicer and shall be subject to all the responsibilities, duties, and liabilities
arising thereafter relating thereto placed on the predecessor Servicer, by the terms and provisions
of this Agreement; provided, that (i) any failure of such Successor Servicer to perform such
responsibilities or duties that are caused by the predecessor Servicer’s failure to provide
information or monies required hereunder shall not be considered a default by such Successor
Servicer and (ii) such Successor Servicer shall have no liability for actions, inactions or
representations of the predecessor Servicer.

          (c) In connection with such appointment, the Indenture Trustee may make such arrangements for
the compensation of such Successor Servicer out of payments on Receivables as it and such Successor
Servicer shall agree; provided, however, that no such compensation shall be in excess of the
compensation permitted for the predecessor Servicer under this Agreement. The Indenture Trustee
and such Successor Servicer shall take such action, consistent with this Agreement, as shall be
necessary to effectuate any such succession.

          (d) Notwithstanding anything herein or in the other Basic Documents to the contrary, in no
event shall any Successor Servicer be required to purchase any Receivable pursuant to Section 3.6
herein.

     SECTION 7.3 Notification to Noteholders and Certificateholders. Upon any termination
of, or appointment of a successor to, the Servicer pursuant to this Article VII, the Indenture
Trustee shall give prompt written notice thereof to Noteholders, and the Owner Trustee shall give
prompt written notice thereof to Certificateholders at their respective addresses of record and to
each Rating Agency.

     SECTION 7.4 Waiver of Past Events of Servicing Termination. The holders of Notes
evidencing not less than a majority of the principal amount of the Controlling Class (or, if no
Notes are outstanding, holders of Certificates evidencing a majority of the Percentage Interests)
may, on behalf of all Noteholders and Certificateholders, waive any Event of Servicing Termination
hereunder and its consequences, except an event resulting from the failure by the Servicer to make
any required payments in accordance with this Agreement, which shall require the unanimous vote of
all Holders of Outstanding Securities. Upon any such waiver of a past Event of Servicing
Termination, such Event of Servicing Termination shall cease to exist, and shall be deemed to have
been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or
other Event of Servicing Termination or impair any right consequent thereon. The Indenture Trustee
shall provide written notice of any such waiver to the Rating Agencies.

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ARTICLE VIII

TERMINATION

     SECTION 8.1 Optional Purchase of All Receivables. The Servicer, or if the Servicer
does not exercise such right, a Certificateholder evidencing 100% of the Percentage Interests in
the Certificates may purchase the outstanding Receivables and the other Trust Property on any
Payment Date if, as of the last day of the related Collection Period, the Pool Balance has declined
to 10% or less of the Pool Balance as of the Cut-Off Date. To exercise such option, the Servicer
or Certificateholder, as applicable, shall deposit the Optional Purchase Price to the Collection
Account on such Payment Date. The Servicer or Certificateholder, as applicable, shall furnish
notice of such election to the Indenture Trustee and the Owner Trustee not later than twenty (20)
days prior to the Prepayment Date. Promptly following its receipt of such notice, (i) the Indenture
Trustee will promptly (but not later than 3 Business Days after it has received such notice)
provide notice of such purchase to the Noteholders of record and (ii) the Owner Trustee will
promptly (but not later than 3 Business Days after it has received such notice) provide notice of
such purchase to the Certificateholders of record.

     SECTION 8.2 Succession Upon Satisfaction and Discharge of Indenture. Following the
satisfaction and discharge of the Indenture and the payment in full of the principal of and
interest on the Notes, to the extent permitted by applicable law, the Indenture Trustee will
continue to carry out its obligations hereunder as agent for the Owner Trustee, including without
limitation making distributions from the Collection Account in accordance with Section 4.5.

ARTICLE IX

MISCELLANEOUS PROVISIONS

     SECTION 9.1 Amendment. (a) Any term or provision of this Agreement may be amended by
the Depositor and the Servicer without the consent of the Indenture Trustee, the Owner Trustee, any
Noteholder, any Certificateholder, the Issuer or any other Person; provided that such amendment
shall not, as evidenced by an Opinion of Counsel delivered to the Indenture Trustee and to that
effect, materially and adversely affect the interests of the Noteholders or the Certificateholders.
An amendment shall be deemed not to materially and adversely affect the interests of the
Noteholders or the Certificateholders and no Opinion of Counsel to that effect shall be required if
the Rating Agency Condition is satisfied with respect to such amendment.

          (b) Any term or provision of this Agreement may be amended by the Depositor and the Servicer
but without the consent of the Indenture Trustee, the Owner Trustee, any Noteholder, any
Certificateholder, the Issuer or any other Person to add, modify or eliminate any provisions as may
be necessary or advisable in order to enable the Depositor, the Servicer or any of their Affiliates
to comply with or obtain more favorable treatment under any law or regulation or any accounting
rule or principle, it being a condition to any such amendment that the Rating Agency Condition
shall have been satisfied.

          (c) Any term or provision of this Agreement may also be amended from time to time by the
Depositor and the Servicer, with the consent of the Indenture Trustee to the extent

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that its rights or obligations are materially and adversely affected thereby (which consent
shall not be unreasonably withheld) and with the consent of (i) the Noteholders of Notes evidencing
not less than a majority of the principal amount of each Class of Notes, and (ii) the
Certificateholders of Certificates evidencing not less than a majority of the Percentage Interests
(which consent of any holder of a Note or holder of a Certificate given pursuant to this Section
9.1 or pursuant to any other provision of this Agreement shall be conclusive and binding on such
Note or Certificate, as the case may be, and on all future holders of such Note or holders of such
Certificate, as the case may be, and of any Note or Certificate, as applicable, issued upon the
transfer thereof or in exchange thereof or in lieu thereof whether or not notation of such consent
is made upon such Note or the Certificate), for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Agreement, or of modifying in any manner
the rights of the Noteholders or the Certificateholders; provided, however, that no such amendment
shall (A) increase or reduce in any manner the amount of, or accelerate or delay the timing of, or
change the allocation or priority of, collections of payments on Receivables or distributions that
shall be required to be made on any Note or Certificate or change any Note Interest Rate, without
the consent of all Noteholders or Certificateholders or (B) reduce the aforesaid percentage
required to consent to any such amendment, without the consent of the holders of all Notes affected
thereby and holders of all Certificates affected thereby. It shall not be necessary for the consent
of Noteholders or the Certificateholders pursuant to this Section 9.1 to approve the particular
form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve
the substance thereof. The manner of obtaining such consents (and any other consents of
Noteholders and Certificateholders provided for in this Agreement) and of evidencing the
authorization of the execution thereof by Noteholders and Certificateholders shall be subject to
such reasonable requirements as the Owner Trustee and the Indenture Trustee may prescribe,
including, with respect to the Noteholders, the establishment of record dates pursuant to the Note
Depository Agreement.

          (d) Prior to the execution of any such amendment the Indenture Trustee will provide written
notification of the substance of such amendment to each Rating Agency.

          (e) Promptly after the execution of any such amendment, the Indenture Trustee shall furnish
written notification of the substance of such amendment to the Owner Trustee and each Rating
Agency. The Issuer shall provide notification of the substance of the amendment to each
Certificateholder, and the Indenture Trustee will provide notification of the substance of such
amendment to each Noteholder.

          (f) Prior to the execution of any amendment to this Agreement, the Owner Trustee and the
Indenture Trustee shall be entitled to receive and rely upon an Opinion of Counsel stating that the
execution of such amendment is authorized or permitted by this Agreement and, if applicable, the
Opinion of Counsel referred to in Section 9.1(a). The Owner Trustee or the Indenture Trustee may,
but shall not be obligated to, enter into any such amendment which affects such Owner Trustee’s or
Indenture Trustee’s own rights, duties or immunities under this Agreement or otherwise.

     SECTION 9.2 Protection of Title to Trust Property. (a) The Depositor shall file such
financing statements and the Owner Trustee and the Issuer shall file such continuation statements,
all in such manner and in such places as may be required by law fully to preserve,

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maintain, and protect the interest of the Issuer and the Indenture Trustee for the benefit of
the Indenture Secured Parties in the Receivables and in the proceeds thereof. The Depositor or
Issuer, as applicable, shall deliver (or cause to be delivered) to the Indenture Trustee
file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as
available following such filing. The Depositor hereby authorizes the Issuer and the Owner Trustee
to file continuation statements on its behalf.

          (b) Neither the Depositor or the Servicer shall change its name, identity, or corporate
structure in any manner that would, could, or might make any financing statement or continuation
statement filed by the Issuer or the Owner Trustee in accordance with paragraph (a) above seriously
misleading within the meaning of Sections 9-506, 9-507 or 9-508 of the UCC, unless it shall have
given the Issuer, the Owner Trustee and the Indenture Trustee at least 5 days’ prior written notice
thereof and shall have promptly filed appropriate amendments to all previously filed financing
statements or continuation statements.

          (c) The Depositor and the Servicer shall give the Issuer, the Owner Trustee and the Indenture
Trustee at least ten (10) days’ prior written notice of any relocation of its principal executive
office or change in the jurisdiction under whose laws it is formed if, as a result of such
relocation or change, the applicable provisions of the UCC would require the filing of any
amendment of any previously filed financing or continuation statement or of any new financing
statement and shall promptly file any such amendment or new financing statement. The Servicer
shall at all times maintain each office from which it shall service Receivables, and its principal
executive office, within the United States of America.

          (d) The Servicer shall maintain (or shall cause the Receivables Servicers to maintain)
accounts and records as to each Receivable accurately and in sufficient detail to permit (i) the
reader thereof to know at any time the status of such Receivable, including payments and recoveries
made and payments owing (and the nature of each) and (ii) reconciliation between payments or
recoveries on (or with respect to) each Receivable and the amounts from time to time deposited in
the Collection Account in respect of such Receivable.

          (e) The Servicer shall maintain its (or cause the Receivables Servicers to maintain their)
computer systems so that, from and after the time of conveyance under this Agreement of the
Receivables to the Issuer, the Servicer’s (or Receivables Servicers’) master computer records
(including any back-up archives) that refer to a Receivable shall indicate clearly, by numerical
code or otherwise, that such Receivable is owned by the Issuer and has been pledged to the
Indenture Trustee. Indication of the Issuer’s and the Indenture Trustee’s interest in a Receivable
shall not be deleted from or modified on the Servicer’s computer systems until, and only until, the
Receivable shall have been paid in full or repurchased.

          (f) If at any time the Servicer shall propose to sell, grant a security interest in, or
otherwise transfer any interest in automotive receivables to any prospective purchaser, lender, or
other transferee, the Servicer shall give to such prospective purchaser, lender, or other
transferee computer tapes, records, or print-outs (including any restored from back-up archives)
that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that
such Receivable has been conveyed to and is owned by the Issuer and has been pledged to the
Indenture Trustee.

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          (g) The Servicer, upon receipt of reasonable prior notice, shall permit the Indenture Trustee
and its agents at any time during normal business hours at the Indenture Trustee’s expense (which
reasonable expense shall be reimbursed by the Issuer pursuant to Section 8.2(c) of the Indenture)
to inspect, audit, and make copies of and to obtain abstracts from the Servicer’s records regarding
any Receivable.

     SECTION 9.3 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.

          (a) THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THAT WOULD APPLY THE LAW OF ANY JURISDICTION OTHER
THAN THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS, AND REMEDIES OF THE PARTIES UNDER THIS
AGREEMENT SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

          (b) Each of the parties hereto hereby irrevocably and unconditionally:

     (i) submits for itself and its property in any legal action or proceeding
relating to this Agreement or any documents executed and delivered in connection
herewith, or for recognition and enforcement of any judgment in respect thereof, to
the nonexclusive general jurisdiction of the courts of the State of New York, the
courts of the United States of America for the Southern District of New York and
appellate courts from any thereof;

     (ii) consents that any such action or proceeding may be brought in such courts
and waives any objection that it may now or hereafter have to the venue of such
action or proceeding in any such court or that such action or proceeding was brought
in an inconvenient court and agrees not to plead or claim the same;

     (iii) agrees that service of process in any such action or proceeding may be
effected by mailing a copy thereof by registered or certified mail (or any
substantially similar form of mail), postage prepaid, to such Person at its address
determined in accordance with Section 9.4; and

     (iv) agrees that nothing herein shall affect the right to effect service of
process in any other manner permitted by law or shall limit the right to sue in any
other jurisdiction.

          (c) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY
LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER BASIC DOCUMENTS OR THE
TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY.

     SECTION 9.4 Notices. All demands, notices, and communications under this Agreement
shall be in writing, personally delivered, sent by fax, overnight courier or mailed by certified
mail, return receipt requested, and shall be deemed to have been duly given upon receipt

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(a) in the case of the Servicer, at 85 Broad Street, New York, NY 10004, Facsimile: (212)
902-3000, Attention: Jonathan Coblentz; (b) in the case of the Depositor, at 85 Broad Street, New
York, NY 10004, Facsimile (212) 428-3227, Attention: David Stiepleman; (c) in the case of the Owner
Trustee, at the Corporate Trust Office of the Owner Trustee; (d) in the case of the Indenture
Trustee, at the Corporate Trust Office of the Indenture Trustee; (e) in the case of Moody’s, at 99
Church Street, New York, NY 10007, Facsimile: (212) 298-7139, Attention: ABS Monitoring Group; (f)
in the case of Standard & Poor’s, at 55 Water Street, 40th Floor, New York, NY 10041, Facsimile:
(212) 438-2664, Attention: Asset Backed Surveillance Group; or (g) at such other address as shall
be designated by any of the foregoing in a written notice to the other parties hereto. Any notice
required or permitted to be mailed to a Noteholder or Certificateholder shall be given by first
class mail, postage prepaid, at the address of such Person as shown in the Note Register or the
Certificate Register, as applicable. Any notice so mailed within the time prescribed in this
Agreement shall be conclusively presumed to have been duly given, whether or not the Noteholder or
Certificateholder shall receive such notice.

     SECTION 9.5 Severability of Provisions. If any one or more of the covenants,
agreements, provisions, or terms of this Agreement shall be for any reason whatsoever held invalid,
then such covenants, agreements, provisions, or terms shall be deemed severable from the remaining
covenants, agreements, provisions, or terms of this Agreement and shall in no way affect the
validity or enforceability of the other provisions of this Agreement or of the Notes, the
Certificates or the rights of the holders thereof.

     SECTION 9.6 No Waiver; Cumulative Remedies. No failure to exercise and no delay in
exercising, on the part of the Owner Trustee, the Indenture Trustee, the Noteholders or the
Certificateholders, any right, remedy, power or privilege hereunder, shall operate as a waiver
thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right,
remedy, power or privilege. The rights, remedies, powers and privileges therein provided are
cumulative and not exhaustive of any rights, remedies, powers and privileges provided by law.

     SECTION 9.7 Third-Party Beneficiaries. This Agreement will inure to the benefit of
and be binding upon the parties hereto, the Indenture Trustee, the Owner Trustee and their
respective successors and permitted assigns and each of the Indenture Trustee, Owner Trustee may
enforce the provisions hereof as if they were parties thereto. Except as otherwise provided in
this Article IX, no other Person will have any right or obligation hereunder. The parties hereto
hereby acknowledge and consent to the pledge of this Agreement by the Issuer to the Indenture
Trustee for the benefit of the Indenture Secured Parties pursuant to the Indenture.

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     SECTION 9.8 Limitation of Liability of the Owner Trustee and the Indenture Trustee.
(a) Notwithstanding anything contained herein to the contrary, this Agreement has been signed by
Wilmington Trust Company not in its individual capacity but solely in its capacity as Owner Trustee
of the Issuer and in no event shall Wilmington Trust Company, in its individual capacity or, except
as expressly provided in the Trust Agreement, as Owner Trustee of the Issuer have any liability for
the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder
or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which
recourse shall be had solely to the assets of the Issuer. For all purposes of this Agreement, in
the performance of its duties or obligations hereunder or in the performance of any duties or
obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the
benefits of, the terms and provisions of Articles VI and VII of the Trust Agreement.

     (b) Notwithstanding anything contained herein to the contrary, this Agreement has been
accepted by JPMorgan Chase, not in its individual capacity but solely as Indenture Trustee, and in
no event shall JPMorgan Chase have any liability for the representations, warranties, covenants,
agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or
agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets
of the Issuer.

     SECTION 9.9 Transfers Intended as Sale; Security Interest. (a) Each of the parties
hereto expressly intends and agrees that the transfer of the Transferred Assets contemplated and
effected under this Agreement is a complete and absolute sale and transfer of the Transferred
Assets rather than a pledge or assignment of only a security interest and shall be given effect as
such for all purposes. It is further the intention of the parties hereto that the Receivables and
other Transferred Assets shall not be part of the Depositor’s estate in the event of a bankruptcy
or insolvency of the Depositor. The sale and transfer by the Depositor of Receivables and other
Transferred Assets hereunder is and shall be without recourse to, or representation or warranty
(express or implied) by, the Depositor, except as otherwise specifically provided herein. The
limited rights of recourse specified herein against the Depositor are intended to provide a remedy
for breach of representations and warranties relating to the condition of the property sold, rather
than to the collectibility of the Receivables.

          (b) Notwithstanding the foregoing, in the event that the Receivables and other Transferred
Assets are held to be property of the Depositor, or if for any reason this Agreement is held or
deemed to create indebtedness or a security interest in the Receivables and other Transferred
Assets, then it is intended that:

     (i) This Agreement shall be deemed to be a security agreement within the
meaning of Articles 8 and 9 of the New York Uniform Commercial Code and the Uniform
Commercial Code of any other applicable jurisdiction;

     (ii) The conveyance provided for in Section 2.1 shall be deemed to be a
grant by the Depositor, and the Depositor hereby grants, to the Issuer of a security
interest in all of its right (including the power to convey title thereto), title
and interest, whether now owned or hereafter acquired, in and to the

Sale and Servicing Agreement

28

 

Receivables and other Transferred Assets, to secure such indebtedness and the
performance of the obligations of the Depositor hereunder;

     (iii) The possession by the Issuer, or the Servicer (or Receivables Servicers)
as the Issuer’s agent, of the Receivables Files and any other property as constitute
instruments, money, negotiable documents or chattel paper shall be deemed to be
“possession by the secured party” or possession by the purchaser or a person
designated by such purchaser, for purposes of perfecting the security interest
pursuant to the New York Uniform Commercial Code and the Uniform Commercial Code of
any other applicable jurisdiction; and

     (iv) Notifications to persons holding such property, and acknowledgments,
receipts or confirmations from persons holding such property, shall be deemed to be
notifications to, or acknowledgments, receipts or confirmations from, bailees or
agents (as applicable) of the Issuer for the purpose of perfecting such security
interest under applicable law.

     SECTION 9.10 No Petition. Each party hereto agrees that, prior to the date which is
one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in
respect of all securities issued by any Bankruptcy Remote Party (i) such party shall not authorize
any Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or other
proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy
Remote Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in
effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver,
liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any
substantial part of its property or to consent to any such relief or to the appointment of or
taking possession by any such official in an involuntary case or other proceeding commenced against
such Bankruptcy Remote Party, or to make a general assignment for the benefit of, its creditors
generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) none of
the parties hereto shall commence or join with any other Person in commencing any proceeding
against such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or
insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall
survive the termination of this Agreement.

     SECTION 9.11 Execution in Counterparts. This Agreement may be executed in any number
of counterparts, each of which counterparts shall be deemed to be an original, and all of which
counterparts shall constitute but one and the same instrument.

     SECTION 9.12 Headings. The section headings hereof have been inserted for convenience
of reference only and shall not be construed to affect the meaning, construction or effect of this
Agreement.

[SIGNATURES FOLLOW]

Sale and Servicing Agreement

29

 

     IN WITNESS WHEREOF, the parties have caused this Sale and Servicing Agreement to be duly
executed by their respective officers thereunto duly authorized as of the day and year first above
written.

	 	 	 	 	 
	 	 	GS AUTO LOAN TRUST 2005-1, as Issuer
	 

	 	 	 	 
	 

	 	By:
	 	Wilmington Trust Company, not in its
	 

	 	 	 	individual capacity but solely as
	 

	 	 	 	Owner Trustee

	 	 	 	 	 
	 	 	 
	 	By:  	               /s/ Emmet R. Harmon
 	 
	 	 	Name:  	Emmet R. Harmon 	 
	 	 	Title:  	Vice President 	 
	 

Sale and Servicing Agreement

S-1

 

	 	 	 	 	 
	 	 	GOLDMAN SACHS MORTGAGE COMPANY, as Servicer
	 

	 	 	 	 
	 

	 	By:
	 	Goldman Sachs Real Estate Funding
	 

	 	 	 	Corp., its general partner

	 	 	 	 	 
	 	 	 
	 	By:  	               /s/ Joseph Marconi
 	 
	 	 	Name:  	Joseph Marconi 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 
	 

	 	GOLDMAN SACHS ASSET BACKED
	 

	 	SECURITIES CORP., as Depositor

	 	 	 	 	 
	 	 	 
	 	By:  	               /s/ Joseph Marconi
 	 
	 	 	Name:  	Joseph Marconi 	 
	 	 	Title:  	Vice President 	 
	 

Sale and Servicing Agreement

S-2

 

	 	 	 
	 

	 	JPMORGAN CHASE BANK, NATIONAL
	 

	 	ASSOCIATION, not in its individual capacity
	 

	 	but solely as Indenture Trustee

	 	 	 	 	 
	 	 	 
	 	By:  	        /s/ Annette M. Marsula
 	 
	 	 	Name:  	Annette M. Marsula 	 
	 	 	Title:  	Vice President 	 
	 

Sale and Servicing Agreement

S-3

 

APPENDIX A

DEFINITIONS AND USAGE

     The following rules of construction and usage shall be applicable to any agreement or
instrument that is governed by this Appendix:

     (a) All terms defined in this Appendix shall have the defined meanings when used in any
agreement or instrument governed hereby and in any certificate or other document made or delivered
pursuant thereto unless otherwise defined therein.

     (b) As used herein, in any agreement or instrument governed hereby and in any certificate or
other document made or delivered pursuant thereto, accounting terms not defined in this Appendix or
in any such agreement, instrument, certificate or other document, and accounting terms partly
defined in this Appendix or in any such agreement, instrument, certificate or other document, to
the extent not defined, shall have the respective meanings given to them under generally accepted
accounting principles as in effect on the date of such agreement or instrument. To the extent that
the definitions of accounting terms in this Appendix or in any such agreement, instrument,
certificate or other document are inconsistent with the meanings of such terms under generally
accepted accounting principles, the definitions contained in this Appendix or in any such
instrument, certificate or other document shall control.

     The words “hereof,” “herein,” “hereunder” and words of similar import when used in an
agreement or instrument refer to such agreement or instrument as a whole and not to any particular
provision or subdivision thereof; references in an agreement or instrument to “Article,” “Section”
or another subdivision or to an attachment are, unless the context otherwise requires, to an
article, section or subdivision of or an attachment to such agreement or instrument; and the term
“including” and its variations means “including without limitation.”

     The definitions contained in this Appendix are equally applicable to both the singular and
plural forms of such terms and to the masculine as well as to the feminine and neuter genders of
such terms.

     Any agreement, instrument or statute defined or referred to below or in any agreement or
instrument that is governed by this Appendix means such agreement or instrument or statute as from
time to time amended, modified or supplemented, including (in the case of agreements or
instruments) by waiver or consent and (in the case of statutes) by succession of comparable
successor statutes and includes (in the case of agreements or instruments) references to all
attachments thereto and instruments incorporated therein. References to a Person are also to its
permitted successors and assigns.

Appendix A

 

 

Definitions

     “1934 Act Documents” shall have the meaning set forth in Section 4.8 of the Sale and Servicing
Agreement.

     “Act” shall have the meaning specified in Section 11.3(a) of the Indenture.

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

     “Aggregate Servicing Fee” shall mean, with respect to a Collection Period, the aggregate of
the Receivables Servicer Servicing Fees and the Servicing Fee payable to the Receivables Servicers
and the Servicer on each Payment Date, which is equal to the product of 1/12th of 1.05% and the
aggregate Principal Balance of the Receivables as of the first day of the related Collection
Period.

     “Annual Percentage Rate” or “APR” of a Receivable shall mean the annual rate of finance
charges stated in the Receivable.

     “Authenticating Agent” shall have the meaning specified in Section 2.14 of the Indenture or
3.11 of the Trust Agreement, as applicable.

     “Authorized Officer” shall mean, (i) with respect to the Issuer, any officer within the
Corporate Trust Office of the Owner Trustee, including any vice president, assistant vice
president, secretary, assistant secretary or any other officer of the Owner Trustee customarily
performing functions similar to those performed by any of the above designated officers; and (ii)
with respect to the Indenture Trustee or the Owner Trustee, any officer within the Corporate Trust
Office of the Indenture Trustee or the Owner Trustee, as the case may be, including any vice
president, assistant vice president, secretary, assistant secretary or any other officer of the
Indenture Trustee or the Owner Trustee, as the case may be, customarily performing functions
similar to those performed by any of the above designated officers and also, with respect to a
particular matter, any other officer to whom such matter is referred because of such officer’s
knowledge of and familiarity with the particular subject.

     “Available Collections” shall mean, for any Payment Date, the sum of the following amounts
with respect to the Collection Period preceding such Payment Date: (i) all amounts representing
Collections on the Receivables received from the Receivables Servicers with respect to such
Collection Period and (ii) amounts representing the purchase price received for Receivables which
were required to be purchased by the applicable Receivables Servicer under the applicable
Originator Agreement; provided, however, that in calculating the Available Collections the
following will be excluded: (a) any portion of the Receivables Servicer Servicing Fee retained by a
Receivables Servicer from Collections in respect of the Receivables serviced by it; (b) any amounts
with respect to Receivables purchased by an Originator or Receivables Servicer for which the
purchase price of which has been included in the Available Collections

Appendix A

 

 

for a prior Collection Period; (c) any Supplemental Servicing Fees; and (d) any other amounts
that the Receivables Servicers are entitled to retain under their respective Receivables Servicing
Agreements.

     “Available Funds” shall mean, with respect to any Payment Date, the sum of (a) the Available
Collections for the related Collection Period, (b) the deposits made to the Collection Account
pursuant to Section 4.4 and, without duplication, Section 8.1 of the Sale and Servicing Agreement
and (c) the Receivables Servicer Supplemental Payment Amount.

     “Bankruptcy Code” shall mean the United States Bankruptcy Code, 11 U.S.C. 101 et seq., as
amended.

     “Bankruptcy Remote Party” shall mean each of the Depositor, the Issuer, any other trust
created by the Depositor or any limited liability company wholly-owned by the Depositor.

     “Basic Documents” shall mean the Certificate of Trust, the Trust Agreement, the Sale and
Servicing Agreement, the Receivables Purchase Agreements, the Indenture, the OSB Assignment,
Assumption and Recognition Agreement, the Huntington Assignment, Assumption and Recognition
Agreement, the Huntington Representations and Warranties Agreement, the Ford Credit
Acknowledgement, the Underwriting Agreement, the Note Depository Agreement, the SST Servicing
Agreement and the other documents and certificates delivered in connection therewith.

     “Book-Entry Note” shall mean a beneficial interest in any of the Class A-1 Notes, the Class
A-2 Notes, Class A-3 Notes, Class A-4 Notes, the Class B Notes, the Class C Notes and the Class D
Notes, in each case issued in book-entry form.

     “Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banking
institutions or trust companies in the State of New York, the State of Delaware, the State of Ohio,
the State of Michigan, the State of Missouri or the state in which the Corporate Trust Office of
the Indenture Trustee are authorized by law, regulation or executive order to be closed.

     “Certificate Distribution Account” shall mean the account established and maintained as such
pursuant to Section 4.1 of the Sale and Servicing Agreement.

     “Certificate of Trust” shall mean the Certificate of Trust in the form of Exhibit B to the
Trust Agreement filed for the Issuer pursuant to Section 3810(a) of the Statutory Trust Statute.

     “Certificate Paying Agent” or “Paying Agent” shall mean any paying agent or co-paying agent
appointed pursuant to Section 3.09 of the Trust Agreement and shall initially be JPMorgan Chase.

     “Certificate Percentage Interest” shall mean, with respect to a Certificate, the percentage
specified on such Certificate as the Certificate Percentage Interest, which percentage represents
the beneficial interest of such Certificate in the Issuer. The aggregate Percentage Interest shall
be 100%.

Appendix A

 

 

     “Certificate Register” shall mean the certificate register maintained pursuant to Section 3.4
of the Trust Agreement.

     “Certificate Registrar” shall mean any certificate registrar acting in accordance with Section
3.4 of the Trust Agreement and shall initially be the Indenture Trustee.

     “Certificateholder” or “holder of a Certificate” shall mean a Person in whose name a
Certificate is registered in the Certificate Register.

     “Certificates” shall mean the certificates evidencing the beneficial interest of a
Certificateholder in the Issuer, substantially in the form of Exhibit A to the Trust Agreement;
provided, however, that the Owner Trust Estate has been pledged to the Indenture Trustee to secure
payment of the Notes and that the rights of the Certificateholders to receive distributions on the
Certificates are subordinated to the rights of the Noteholders as described in the Sale and
Servicing Agreement, the Indenture and the Trust Agreement.

     “Class” shall mean any one of the classes of Notes.

     “Class A Interest Payment Amount” shall mean, with respect to any Payment Date, the sum of the
Class A-1 Interest Payment Amount for such Payment Date, the Class A-2 Interest Payment Amount for
such Payment Date, the Class A-3 Interest Payment Amount for such Payment Date and the Class A-4
Interest Payment Amount for such Payment Date.

     “Class A Notes” shall mean, collectively, the Class A-1 Notes, the Class A-2 Notes, the Class
A-3 Notes and the Class A-4 Notes.

     “Class A Principal Payment Amount” means, with respect to any Payment Date, an amount equal to
the greater of (a) the Outstanding Amount of the Class A-1 Notes immediately prior to that Payment
Date and (b) an amount equal to (i) the Outstanding Amount of the Class A Notes immediately prior
to that Payment Date minus (ii) the lesser of (A) the Class A Target Advance Rate Percentage of the
Pool Balance as of the last day of the related Collection Period and (B) an amount equal to (1) the
Pool Balance as of the last day of the related Collection Period minus (2) the Target
Overcollateralization Level for that Payment Date; provided, however, that, unless the Class A
Notes have been paid in full, for any Payment Date as of which the Three-Month Annualized Net Loss
Ratio is greater than or equal to the Sequential Principal Payment Trigger Percentage in effect on
that Payment Date, the Class A Principal Payment Amount will be 100% of the funds available in the
Principal Distribution Account for that Payment Date; provided, further, that on the Final
Scheduled Payment Date of any class of Class A Notes, the Class A Principal Payment Amount will not
be less than the amount that is necessary to pay that class of Class A Notes in full; and provided,
further, that the Class A Principal Payment Amount on any Payment Date will not exceed the
Outstanding Amount of the Class A Notes on that Payment Date.

     “Class A Target Advance Rate Percentage” means, (a) with respect to any Payment Date on which
an Overcollateralization Increase Condition is not in effect, 86.0% and (b) with respect to any Payment Date on which
an Overcollateralization Increase Condition is in effect, 85.0%.

Appendix A

 

 

     “Class A-1 Final Scheduled Payment Date” shall mean the August 2006 Payment Date.

     “Class A-1 Interest Payment Amount” shall mean (a) with respect to the initial Payment Date,
the product of (i) 1/360 of the Class A-1 Interest Rate times (ii) the actual number of days from
and including the Closing Date to and excluding the initial Payment Date times (iii) the
Outstanding Amount of the Class A-1 Notes as of the Closing Date; and (b) with respect to any
subsequent Payment Date, the sum of (i) the product of (x) 1/360 of the Class A-1 Interest Rate
times (y) the actual number of days from and including the immediately preceding Payment Date to
and excluding such subsequent Payment Date times (z) the Outstanding Amount of the Class A-1 Notes
as of the immediately preceding Payment Date after giving effect to all payments of principal of
the Class A-1 Notes on such immediately preceding Payment Date and (ii) the amount of Class A-1
Interest Payment Amount payable on the prior Payment Date but not paid, if any, together with
interest thereon (to the extent permitted by law) at the Class A-1 Interest Rate.

     “Class A-1 Interest Rate” shall mean 3.8484%.

     “Class A-1 Noteholder” shall mean the Person in whose name a Class A-1 Note is registered in
the Note Register.

     “Class A-1 Notes” shall mean the $306,000,000 aggregate initial principal amount Class A-1
3.8484% Asset Backed Notes issued by the Issuer pursuant to the Indenture, substantially in the
form of Exhibit A-1 to the Indenture.

     “Class A-2 Final Scheduled Payment Date” shall mean the May 2008 Payment Date.

     “Class A-2 Interest Payment Amount” shall mean (a) with respect to the initial Payment Date,
the product of (i) 1/360 of the Class A-2 Interest Rate times (ii) the number of days from and
including the Closing Date to and excluding the 15th day of the calendar month in which the initial
Payment Date occurs (calculated on the basis of a 360-day year consisting of twelve 30-day months)
times (iii) the Outstanding Amount of the Class A-2 Notes as of the Closing Date; and (b) with
respect to any subsequent Payment Date, the sum of (i) the product of (x) one-twelfth of the Class
A-2 Interest Rate times (y) the Outstanding Amount of the Class A-2 Notes as of the immediately
preceding Payment Date after giving effect to all payments of principal of the Class A-2 Notes on
such immediately preceding Payment Date and (ii) the amount of Class A-2 Interest Payment Amount
payable on the prior Payment Date but not paid, if any, together with interest thereon (to the
extent permitted by law) at the Class A-2 Interest Rate.

     “Class A-2 Interest Rate” shall mean 4.32%.

     “Class A-2 Noteholder” shall mean the Person in whose name a Class A-2 Note is registered in
the Note Register.

     “Class A-2 Notes” shall mean the $372,061,000 aggregate initial principal amount Class A-2
4.32% Asset Backed Notes issued by the Issuer pursuant to the Indenture, substantially in the form
of Exhibit A-2 to the Indenture.

     “Class A-3 Final Scheduled Payment Date” shall mean the May 2010 Payment Date.

Appendix A

 

 

     “Class A-3 Interest Payment Amount” shall mean (a) with respect to the initial Payment Date,
the product of (i) 1/360 of the Class A-3 Interest Rate times (ii) the number of days from and
including the Closing Date to and excluding the 15th day of the calendar month in which the initial
Payment Date occurs (calculated on the basis of a 360-day year consisting of twelve 30-day months)
times (iii) the Outstanding Amount of the Class A-3 Notes as of the Closing Date; and (b) with
respect to any subsequent Payment Date, the sum of (i) the product of (x) one-twelfth of the Class
A-3 Interest Rate times (y) the Outstanding Amount of the Class A-3 Notes as of the immediately
preceding Payment Date after giving effect to all payments of principal of the Class A-3 Notes on
such immediately preceding Payment Date and (ii) the amount of Class A-3 Interest Payment Amount
payable on the prior Payment Date but not paid, if any, together with interest thereon (to the
extent permitted by law) at the Class A-3 Interest Rate.

     “Class A-3 Interest Rate” shall mean 4.45%.

     “Class A-3 Noteholder” shall mean the Person in whose name a Class A-3 Note is registered in
the Note Register.

     “Class A-3 Notes” shall mean $396,354,000 aggregate initial principal amount Class A-3 4.45%
Asset Backed Notes issued by the Issuer pursuant to the Indenture, substantially in the form of
Exhibit A-3 to the Indenture.

     “Class A-4 Final Scheduled Payment Date” shall mean the November 2013 Payment Date.

     “Class A-4 Interest Payment Amount” shall mean (a) with respect to the initial Payment Date,
the product of (i) 1/360 of the Class A-4 Interest Rate times (ii) the number of days from and
including the Closing Date to and excluding the 15th day of the calendar month in which
the initial Payment Date occurs (calculated on the basis of a 360-day year consisting of twelve
30-day months) times (iii) the Outstanding Amount of the Class A-4 Notes as of the Closing Date;
and (b) with respect to any subsequent Payment Date, the sum of (i) the product of (x) one-twelfth
of the Class A-4 Interest Rate times (y) the Outstanding Amount of the Class A-4 Notes as of the
immediately preceding Payment Date after giving effect to all payments of principal of the Class
A-4 Notes on such immediately preceding Payment Date and (ii) the amount of Class A-4 Interest
Payment Amount payable on the prior Payment Date but not paid, if any, together with interest
thereon (to the extent permitted by law) at the Class A-4 Interest Rate.

     “Class A-4 Interest Rate” shall mean 4.56%.

     “Class A-4 Noteholder” shall mean the Person in whose name a Class A-4 Note is registered in
the Note Register.

     “Class A-4 Notes” shall mean the $110,594,000 aggregate initial principal amount Class A-4
4.56% Asset Backed Notes issued by the Issuer under the Indenture, substantially in the form of
Exhibit A-4 to the Indenture.

     “Class B Final Scheduled Payment Date” shall mean the November 2013 Payment Date.

Appendix A

 

 

     “Class B Interest Payment Amount” shall mean (a) with respect to the initial Payment Date, the
product of (i) 1/360 of the Class B Interest Rate times (ii) the number of days from and including
the Closing Date to and excluding the 15th day of the calendar month in which the initial Payment
Date occurs (calculated on the basis of a 360-day year consisting of twelve 30-day months) times
(iii) the Outstanding Amount of the Class B Notes as of the Closing Date; and (b) with respect to
any subsequent Payment Date, the sum of (i) the product of (x) one-twelfth of the Class B Interest
Rate times (y) the Outstanding Amount of the Class B Notes as of the immediately preceding Payment
Date after giving effect to all payments of principal of the Class B Notes on such immediately
preceding Payment Date and (ii) the amount of Class B Interest Payment Amount payable on the prior
Payment Date but not paid, if any, together with interest thereon (to the extent permitted by law)
at the Class B Interest Rate.

     “Class B Interest Rate” shall mean 4.62%.

     “Class B Notes” shall mean the $42,793,000 aggregate initial principal amount Class B 4.62%
Asset Backed Notes issued by the Issuer under the Indenture, substantially in the form of Exhibit B
to the Indenture.

     “Class B Principal Payment Amount” means, with respect to any Payment Date, an amount equal to
(a) the sum of (i) the Outstanding Amount of the Class A Notes (after taking into account
distribution of the Class A Principal Payment Amount on that Payment Date) and (ii) the Outstanding
Amount of the Class B Notes immediately prior to that Payment Date minus (b) the lesser of (i) the
Class B Target Advance Rate Percentage of the Pool Balance as of the last day of the related
Collection Period and (ii) an amount equal to (A) the Pool Balance as of the last day of the
related Collection Period minus (B) the Target Overcollateralization Level for that Payment Date;
provided, however, that, for any Payment Date as of which the Three-Month Annualized Net Loss Ratio
is greater than or equal to the Sequential Principal Payment Trigger Percentage in effect on that
Payment Date, the Class B Principal Payment Amount will be an amount equal to (x) 100% of the funds
available in the Principal Distribution Account for that Payment Date minus (y) the Class A
Principal Payment Amount for that Payment Date; provided, further, that on the Final Scheduled
Payment Date of Class B Notes, the Class B Principal Payment Amount will not be less than the
amount that is necessary to pay Class B Notes in full; and provided, further, that the Class B
Principal Payment Amount on any Payment Date will not exceed the Outstanding Amount of the Class B
Notes on that Payment Date.

     “Class B Target Advance Rate Percentage” means, (a) with respect to any Payment Date on which
an Overcollateralization Increase Condition is not in effect, 89.5% and (b) with respect to any
Payment Date on which an Overcollateralization Increase Condition is in effect, 88.5%.

     “Class C Final Scheduled Payment Date” shall mean the November 2013 Payment Date.

     “Class C Interest Payment Amount” shall mean (a) with respect to the initial Payment Date, the
product of (i) 1/360 of the Class C Interest Rate times (ii) the number of days from and including
the Closing Date to and excluding the 15th day of the calendar month in which the initial Payment
Date occurs (calculated on the basis of a 360-day year consisting of twelve 30-

Appendix A

 

 

day months) times
(iii) the Outstanding Amount of the Class C Notes as of the Closing Date; and (b) with respect to
any subsequent Payment Date, the sum of (i) the product of (x) one-twelfth of the Class C Interest
Rate times (y) the Outstanding Amount of the Class C Notes as of the immediately preceding Payment
Date after giving effect to all payments of principal of the Class C Notes on such immediately
preceding Payment Date and (ii) the amount of Class C Interest Payment Amount payable on the prior
Payment Date but not paid, if any, together with interest thereon (to the extent permitted by law)
at the Class C Interest Rate.

     “Class C Interest Rate” shall mean 4.98%.

     “Class C Noteholder” shall mean the Person in whose name a Class C Note is registered in the
Note Register.

     “Class C Notes” shall mean the $42,792,000 aggregate initial principal amount Class C 4.98%
Asset Backed Notes issued by the Issuer under the Indenture, substantially in the form of Exhibit C
to the Indenture.

     “Class C Principal Payment Amount” means, with respect to any Payment Date, an amount equal to
(a) the sum of (i) the Outstanding Amount of the Class A Notes (after taking into account
distribution of the Class A Principal Payment Amount on that Payment Date), (ii) the Outstanding
Amount of the Class B Notes (after taking into account distribution of the Class B Principal
Payment Amount on that Payment Date) and (iii) the Outstanding Amount of the Class C Notes
immediately prior to that Payment Date minus (b) the lesser of (i) the Class C Target Advance Rate
Percentage of the Pool Balance as of the last day of the related Collection Period and (ii) an
amount equal to (A) the Pool Balance as of the last day of the related Collection Period minus (B)
the Target Overcollateralization Level for that Payment Date; provided, however, that for any
Payment Date as of which the Three-Month Annualized Net Loss Ratio is greater than or equal to the
Sequential Principal Payment Trigger Percentage in effect on that Payment Date, the Class C
Principal Payment Amount will be an amount equal to (x) 100% of the funds available in the
Principal Distribution Account for that Payment Date minus (y) an amount equal to the sum of (1)
the Class A Principal Payment Amount for that Payment Date plus (2) the Class B Principal Payment
Amount for that Payment Date; provided, further, that on the Final Scheduled Payment Date of Class
C Notes, the Class C Principal Payment Amount will not be less than the amount that is necessary to
pay Class C Notes in full; and provided, further, that the Class C Principal Payment Amount on any
Payment Date will not exceed the Outstanding Amount of the Class C Notes on that Payment Date.

     “Class C Target Advance Rate Percentage” means, (a) with respect to any Payment Date on which
an Overcollateralization
Increase Condition is not in effect, 94.0% and (b) with respect to any Payment Date on which
an Overcollateralization Increase Condition is in effect, 93.0%.

     “Class D Final Scheduled Payment Date” shall mean the November 2013 Payment Date.

     “Class D Noteholder” shall mean the Person in whose name a Class D Note is registered in the
Note Register.

Appendix A

 

 

     “Class D Notes” shall mean Zero Coupon $20,408,000 aggregate initial principal amount Class D
Asset Backed Notes issued by the Issuer pursuant to the Indenture, substantially in the form of
Exhibit D to the Indenture.

     “Class D Principal Payment Amount” shall mean, with respect to any Payment Date, an amount
equal to (a) 100% of the funds available in the Principal Distribution Account for such Payment
Date minus (b) an amount equal to the sum of (i) the Class A Principal Payment Amount for such
Payment Date, (ii) the Class B Principal Payment Amount for such Payment Date and (iii) the Class C
Principal Payment Amount for such Payment Date; provided, however, that, on the Final Scheduled
Payment Date for the Class D Notes, the Class D Principal Payment Amount will not be less than the
amount such is necessary to pay the Class D Notes in full; and provided, further, that the Class D
Principal Payment Amount on any Payment Date will not exceed the Outstanding Amount of the Class D
Notes on such Payment Date.

     “Clearance System” shall have the meaning specified in Section 2.2 of the Indenture.

     “Clearing Agency” shall mean an organization registered as a “clearing agency” pursuant to
Section 17A of the Exchange Act.

     “Clearing Agency Participant” shall mean a broker, dealer, bank, other financial institution
or other Person for whom from time to time a Clearing Agency effects book-entry transfers and
pledges of securities deposited with the Clearing Agency.

     “Closing Date” shall mean August 19, 2005.

     “Code” shall mean the Internal Revenue Code of 1986, as amended, and Treasury Regulations
promulgated thereunder.

     “Collateral” shall have the meaning specified in the Granting Clause of the Indenture.

     “Collection Account” shall mean the account or accounts established and maintained as such
pursuant to Section 4.1 of the Sale and Servicing Agreement.

     “Collection Period” shall mean, with respect to each Payment Date, the calendar month
preceding the calendar month in which such Payment Date occurs.

     “Collections” shall mean, with respect to any Collection Period, all amounts received from the
Receivables Servicers in respect of such Collection Period which
represent: (a) payments by or on behalf of Obligors on the Receivables, (b) Liquidation Proceeds, (c)
proceeds under physical damage and other insurance policies relating to the Obligor or the Financed
Vehicle and (d) any other amounts received from the Receivables Servicers in respect of the
Receivables which are required to be remitted to the holder of the applicable Receivables;
provided, however, that the term “Collections” shall exclude any Supplemental Servicing Fees.

     “Commission” shall mean the Securities and Exchange Commission.

     “Controlling Class” shall mean (i) if the Class A Notes have not been paid in full, the Class
A Notes, (ii) if the Class A Notes have been paid in full and Class B Notes remain

Appendix A

 

 

Outstanding, the
Class B Notes, (iii) if the Class A Notes and the Class B Notes have been paid in full and Class C
Notes remain Outstanding, the Class C Notes, and (iv) if the Class A Notes, the Class B Notes and
the Class C Notes have been paid in full, the Class D Notes.

     “Corporate Trust Office” shall mean, (i) with respect to the Owner Trustee, the principal
corporate trust office of the Owner Trustee located at Rodney Square North, 1100 North Market
Street, Wilmington, Delaware 19890-0001 or at such other address as the Owner Trustee may designate
from time to time by notice to the Certificateholders and the Depositor, or the principal corporate
trust office of any successor Owner Trustee (the address of which the successor Owner Trustee will
notify the Certificateholders and the Depositor); and (ii) with respect to the Indenture Trustee,
the principal corporate trust office of the Indenture Trustee located at 4 New York Plaza, 6th
Floor, New York, New York 10004, Attention: Worldwide Securities Services/Global Debt — GSALT
2005-1, with a copy of all notices, directions, instructions or requests to 227 West Monroe, 26th
Floor, Chicago, Illinois 60606, Attention: Worldwide Securities Services/Global Debt — GSALT
2005-1, or at such other address as the Indenture Trustee may designate from time to time by notice
to the Noteholders and the Issuer, or the principal corporate trust office of any successor
Indenture Trustee (the address of which the successor Indenture Trustee will notify the Noteholders
and the Issuer).

     “Cut-off Date” shall mean July 31, 2005.

     “Dealer” shall mean a dealer who sold a Financed Vehicle and who originated and sold the
related Receivable, directly or indirectly, to Ford Credit or Huntington or OSB.

     “Default” shall mean any occurrence that is, or with notice or the lapse of time or both would
become, an Event of Default.

     “Definitive Certificates” shall have the meaning specified in Section 3.10 of the Trust
Agreement.

     “Definitive Notes” shall have the meaning specified in Section 2.11 of the Indenture.

     “Depositor” shall mean Goldman Sachs Asset Backed Securities Corp., a Delaware corporation and
its successors and permitted assigns.

     “Depository Institution” shall mean JPMorgan Chase (or another Eligible Institution) as the
depository institution at which the Ford Credit Deposit Account, the Huntington Deposit Account and
the SST Deposit Account are maintained.

     “Determination Date” means the first Business Day preceding any Payment Date.

     “Dominion” shall mean Dominion Bond Rating Service, Inc. or its successor in interest.

     “Eligible Deposit Account” shall mean either (i) a segregated account with an Eligible
Institution or (ii) a segregated trust account with the corporate trust department of a depository
institution organized under the laws of the U.S. or any one of the states thereof or the District
of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as
trustee for funds deposited in such account, so long as any of the securities of such depository

Appendix A

 

 

institution have a credit rating from each Rating Agency in one of its generic rating categories
which signifies investment grade.

     “Eligible Institution” shall mean either (i) the corporate trust department of the Indenture
Trustee or the related Trustee, as applicable; (ii) a depository institution organized under the
laws of the U.S. or any one of the states thereof or the District of Columbia (or any domestic
branch of a foreign bank), (1) which has either (A) a long-term unsecured debt rating of at least
“AA-” by Standard & Poor’s and “Aa3” by Moody’s or (B) a short-term unsecured debt rating or
certificate of deposit rating of “A-1+” by Standard & Poor’s and “Prime-1” by Moody’s and (2) whose
deposits are insured by the Federal Deposit Insurance Corporation or (iii) any depository
institution or trust company in respect of which the Rating Agency Condition is satisfied.

     “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended.

     “Event of Default” shall have the meaning specified in Section 5.1 of the Indenture.

     “Event of Servicing Termination” shall mean an event specified in Section 7.1 of the Sale and
Servicing Agreement.

     “Excess Allocation of Principal” shall mean, with respect to any Payment Date, an amount not
less than zero equal to the excess, if any, of (a) the aggregate outstanding principal amount of
all the Notes as of the preceding Payment Date (after giving effect to any principal payments made
on the Notes on such preceding Payment Date); over (b) the sum of (i) the Pool Balance at the end
of the Collection Period preceding such Payment Date minus the Target Overcollateralization Level
with respect to such Payment Date; and plus (ii) the sum of the First Allocation of Principal, if
any, the Second Allocation of Principal, if any, the Third Allocation of Principal, if any, and the
Regular Allocation of Principal, if any, each with respect to such Payment Date; provided, however,
that the Excess Allocation of Principal shall not exceed the aggregate outstanding principal amount
of all the Notes on such Payment Date (after giving effect to any principal payments made on the
securities on such Payment Date in respect of the First Allocation of Principal, if any, the Second
Allocation of Principal, the Third Allocation of Principal and the Regular Allocation of Principal,
if any); and provided, further, that on or after the Final Scheduled Payment Date relating to the
Class D Notes, the Excess Allocation of Principal shall not be less than the amount that is
necessary to reduce the balance of the Class D Notes to zero.

     “Excess Spread” means, for any Payment Date, an amount not less than zero equal to (a) the
excess of the Available Funds for such Payment Date over
amounts received in respect of principal on the Receivables minus (b) the sum of the Indenture
Trustee Fee, the Owner Trustee Fee and the Receivables Servicer Servicing Fees payable to the
Receivables Servicers for the preceding Collection Period and the Class A Interest Payment Amount,
the Class B Interest Payment Amount and the Class C Interest Payment Amount for that Payment Date.

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

     “Executive Officer” shall mean, with respect to any corporation, the Chief Executive Officer,
Chief Operating Officer, Chief Financial Officer, President, Executive Vice President,

Appendix A

 

 

any Vice
President, the Secretary or the Treasurer of such corporation and, with respect to any partnership,
any general partner thereof.

     “Final Scheduled Payment Date” shall mean, with respect to (i) the Class A-1 Notes, the Class
A-1 Final Scheduled Payment Date, (ii) the Class A-2 Notes, the Class A-2 Final Scheduled Payment
Date, (iii) the Class A-3 Notes, the Class A-3 Final Scheduled Payment Date, (iv) the Class A-4
Notes, the Class A-4 Final Scheduled Payment Date, (v) the Class B Notes, the Class B Final
Scheduled Payment Date, (vi) the Class C Notes, the Class C Final Scheduled Payment Date and (vii)
the Class D Notes, the Class D Final Scheduled Payment Date.

     “Financed Vehicle” shall mean a new or used automobile or light-duty truck, together with all
accessions thereto, securing an Obligor’s indebtedness under the respective Receivable.

     “Fitch” shall mean Fitch, Inc. or its successor in interest.

     “First Allocation of Principal” shall mean, with respect to any Payment Date, an amount equal
to the excess, if any, of (x) the Outstanding Amount of the Class A Notes as of the preceding
Payment Date (after giving effect to any principal payments made on the Class A Notes on such
preceding Payment Date) or, in the case of the initial Payment Date, the Closing Date, over (y) the
Pool Balance as of the end of the related Collection Period; provided, however, that the First
Allocation of Principal for any Payment Date on or after the Final Scheduled Payment Date for any
class of Class A Notes shall not be less than the amount such is necessary to reduce the
Outstanding Amount for such class of Class A Notes to zero.

     “Ford Credit” shall mean Ford Motor Credit Company, a Delaware corporation, and its
successors.

     “Ford Credit Acknowledgment” shall mean the acknowledgement executed by Ford Credit, dated as
of the Closing Date, and acknowledged by Trust I and the Servicer.

     “Ford Credit Agreements” means the Ford Credit Purchase Agreement and the Ford Credit
Servicing Agreement.

     “Ford Credit Deposit Account” shall mean the account at the Depository Institution into which
collections on the Ford Credit Receivables are deposited.

     “Ford Credit Purchase Agreement” shall mean the Purchase and Sale Agreement, dated as of March
1, 2005, by and between Ford Credit and Trust I.

     “Ford Credit Receivables” shall mean the Receivables listed in Schedule A to the Sale and
Servicing Agreement as the Ford Credit Receivables, which Receivables were sold by Ford Credit to
Trust I under the Ford Credit Purchase Agreement and by Trust I to the Depositor under the Trust I
Receivables Purchase Agreement.

     “Ford Credit Receivables Representations” shall mean the representations and warranties by
Ford Credit about the Ford Credit Receivables, as such representations and warranties are set

Appendix A

 

 

forth
in the Ford Credit Purchase Agreement, the breach of which would result in a requirement by Ford
Credit to repurchase the Receivable under the Ford Credit Purchase Agreement.

     “Ford Credit Servicing Agreement” shall mean the Servicing Agreement, dated as of March 1,
2005, by and between Ford Credit and Trust I.

     “Global Note” shall have the meaning specified in Section 2.2 of the Indenture.

     “Grant” shall mean to mortgage, pledge, bargain, sell, warrant, alienate, remise, release,
convey, assign, transfer, create, and to grant a lien upon and a security interest in and right of
set-off against, and to deposit, set over and confirm pursuant to the Indenture. A Grant of the
Collateral or of any other agreement or instrument shall include all rights, powers and options
(but none of the obligations) of the granting party thereunder, including the immediate and
continuing right to claim for, collect, receive and give receipt for principal and interest
payments in respect of the Collateral and all other monies payable thereunder, to give and receive
notices and other communications, to make waivers or other agreements, to exercise all rights and
options, to bring Proceedings in the name of the granting party or otherwise, and generally to do
and receive anything that the granting party is or may be entitled to do or receive thereunder or
with respect thereto.

     “Guaranty” shall mean the Guaranty, dated as of the Closing Date, issued by The Goldman Sachs
Group, Inc. in favor of the Issuer.

     “Holder” shall mean either a Certificateholder or Noteholder, as the case may be.

     “Huntington” shall mean The Huntington National Bank, a national banking association, and its
successors.

     “Huntington Agreements” means the Huntington Purchase and Servicing Agreement and the
Huntington Assignment, Assumption and Recognition Agreement.

     “Huntington Assignment, Assumption and Recognition Agreement” shall mean the Assignment,
Assumption and Recognition Agreement, dated as of the Closing Date, by and among Huntington, Trust
II and the Depositor.

     “Huntington Deposit Account” shall mean the account at the Depository Institution into which
collections on the Huntington Receivables are required to be deposited in accordance with the
Huntington Purchase and Servicing Agreement.

     “Huntington Purchase and Servicing Agreement” means the Purchase and Servicing Agreement,
dated as of June 7, 2005, by and between Huntington and Trust II.

     “Huntington Receivables” shall mean the Receivables listed on Schedule A to the Sale and
Servicing Agreement as the Huntington Receivables, which were sold by Huntington to Trust II under
the Huntington Purchase and Servicing Agreement and by Trust II to the Depositor under the Trust II
Receivables Purchase Agreement.

Appendix A

 

 

     “Huntington Receivables Representations” shall mean the representations and warranties by
Huntington about the Huntington Receivables, as such representations and warranties are set forth
in the Huntington Purchase and Servicing Agreement or the Huntington Representations and Warranties
Agreement, the breach of which would result in a requirement by Huntington to repurchase the
Receivable under the either such agreement.

     “Huntington Representations and Warranties Agreement” shall mean the Representations and
Warranties Agreement, dated as of the Closing Date, by and among Huntington, Trust II, the
Depositor, the Issuer and the Servicer.

     “Huntington Indemnity Agreement” shall mean the Indemnity Agreement dated as of August 19,
2005 among Huntington, the Depositor and the Representative.

     “Indenture” shall mean the Indenture, dated as of the Closing Date, by and between the Issuer
and the Indenture Trustee.

     “Indenture Secured Parties” shall mean the Indenture Trustee and the Noteholders.

     “Indenture Trust Estate” shall mean all money, instruments, rights and other property that are
subject or intended to be subject to the lien and security interest of Indenture for the benefit of
the Indenture Secured Parties (including, without limitation, all property and interests Granted to
the Indenture Trustee), including all proceeds thereof.

     “Indenture Trustee” shall mean JPMorgan Chase, not in its individual capacity but solely as
Indenture Trustee under the Indenture, or any successor Indenture Trustee under the Indenture.

     “Indenture Trustee Fee” means the fee payable to the Indenture Trustee, as set forth in the
fee letter from the Indenture Trustee to the Depositor.

     “Independent” shall mean, when used with respect to any specified Person, that such Person (a)
is in fact independent of the Issuer, any other obligor on the Notes, Trust I, Trust II, Trust III
and any Affiliate of any of the foregoing Persons, (b) does not have any direct financial interest
or any material indirect financial interest in the Issuer, any such other obligor, the Depositor or
any Affiliate of any of the foregoing Persons and (c) is not connected with the Issuer, any such
other obligor, the Depositor or any Affiliate of any of the foregoing Persons as an officer,
employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

     “Independent Certificate” shall mean a certificate or opinion to be delivered to the Indenture
Trustee under the circumstances described in, and otherwise complying with, the applicable
requirements of Section 11.1 of the Indenture, made by an Independent appraiser or other expert
appointed by an Issuer Order and approved by the Indenture Trustee in the exercise of reasonable
care, and such opinion or certificate shall state that the signer has read the definition of
“Independent” in the Indenture and that the signer is Independent within the meaning thereof.

Appendix A

 

 

     “Insolvency Event” shall mean, with respect to any Person, (i) the making of a general
assignment for the benefit of creditors, (ii) the filing of a voluntary petition in bankruptcy,
(iii) being adjudged a bankrupt or insolvent, or having had entered against such Person an order
for relief in any bankruptcy or insolvency proceeding, (iv) the filing by such Person of a petition
or answer seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution
or similar relief under any statute, law or regulation, (v) the filing by such Person of an answer
or other pleading admitting or failing to contest the material allegations of a petition filed
against such Person in any proceeding specified in (vii) below, (vi) seeking, consent to or
acquiescing in the appointment of a trustee, receiver or liquidator of such Person or of all or any
substantial part of the assets of such Person or (vii) the failure to obtain dismissal within 60
days of the commencement of any proceeding against such Person seeking reorganization, arrangement,
composition, readjustment, liquidation, dissolution or similar relief under any statute, law or
regulation, or the entry of any order appointing a trustee, liquidator or receiver of such Person
or of such Person’s assets or any substantial portion thereof.

     “IRS” shall mean the Internal Revenue Service.

     “Issuer” shall mean the GS Auto Loan Trust 2005-1, a Delaware statutory trust, and its
successors.

     “Issuer Order” and “Issuer Request” shall mean a written order or request signed in the name
of the Issuer by any one of its Authorized Officers and delivered to the Indenture Trustee.

     “Investment Company Act” means the Investment Company Act of 1940, as amended.

     “JPMorgan Chase” means JPMorgan Chase Bank, National Association, a national banking
association, and its successors.

     “Lien” shall mean a security interest, lien, charge, pledge, equity, or encumbrance of any
kind other than tax liens, mechanics’ liens, and any liens which arise by operation of law.

     “Liquidated Receivable” shall mean any Receivable that, by its terms, is in default and (i) as
to which the applicable Receivables Servicer has repossessed and disposed of the related Financed
Vehicle or (ii) any other condition has occurred under the applicable Receivables Servicing
Agreement which requires such Receivable to be treated as a “liquidated receivable”, “defaulted
receivable” or similar concept.

     “Liquidation Proceeds” means, with respect to any Liquidated Receivable, all amounts collected
in connection with the liquidation of such Liquidated Receivable, net of any expenses
or other amounts the applicable Receivables Servicer is permitted to deduct under the related
Originator Agreement or SST Servicing Agreement, as the case may be.

     “London Business Day” shall mean any day other than a Saturday, Sunday or day on which banking
institutions in London, England are authorized or obligated by law or government decree to be
closed.

     “Memorandum” shall mean the Private Placement Memorandum dated August 19, 2005, relating to
Class D Notes and the Certificates.

Appendix A

 

 

     “Monthly Noteholder Report” is defined in Section 3.8 of the Sale and Servicing Agreement.

     “Monthly Remittance Condition” shall mean (a) with respect to Ford Credit, the “Monthly
Remittance Condition” as defined in the Ford Credit Servicing Agreement and (b) with respect to
Huntington, the condition described in Section 4.03(a) of the Huntington Purchase and Servicing
Agreement.

     “Moody’s” shall mean Moody’s Investors Service, Inc. or its successor in interest.

     “Net Liquidation Losses” means with respect to any Collection Period, the amount, if any, by
which (a) the aggregate Principal Balance of all Receivables that became Liquidated Receivable
during that Collection Period exceeds (b) any and all recoveries received during that Collection
Period.

     “Net Servicing Fee” shall mean, with respect to any Collection Period, the Servicing Fee for
that Collection Period minus the Netted Receivables Servicer Servicing Fee Amount for that
Collection Period.

     “Netted Receivables Servicer Servicing Fee Amount” shall mean, with respect to any Collection
Period, the amount that was retained or netted by the Receivables Servicers from collections
received during that Collection Period in respect of the Receivables Servicer Servicing Fee for
that Collection Period.

     “Note Depositary Agreement” shall mean the Letter of Representations, dated as of the Closing
Date by and among the Issuer, the Indenture Trustee, as agent and The Depository Trust Company
regarding the Notes.

     “Note Depository” shall mean The Depository Trust Company or any successor depository.

     “Note Factor” shall mean, with respect to each Class of Notes as of the close of business on
the last day of a Collection Period, a nine-digit decimal figure equal to the outstanding principal
balance of such Class of Notes (after giving effect to any reductions thereof to be made on the
immediately following Payment Date) divided by the original outstanding principal balance of such
Class of Notes. The Note Factor will be 1.00000000 as of the Closing Date; thereafter, the Note
Factor will decline to reflect reductions in the outstanding principal amount of such Class of
Notes.

     “Note Owner” shall mean, with respect to any Book-Entry Note, the Person who is the beneficial
owner of such Book-Entry Note, as reflected on the books of the Clearing Agency or on the books of
a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency
Participant or as an indirect participant, in each case in accordance with the rules of such
Clearing Agency).

     “Note Paying Agent” shall mean the Indenture Trustee or any other Person that meets the
eligibility standards for the Indenture Trustee specified in Section 6.11 of the Indenture and is
authorized by the Issuer to make payments to and distributions from
the Collection Account and

Appendix A

 

 

the
Principal Distribution Account, including payment of principal of or interest on the Notes on
behalf of the Issuer.

     “Note Register” and “Note Registrar” shall have the respective meanings specified in Section
2.5 of the Indenture.

     “Noteholder” or “holder of a Note” shall mean the Person in whose name a Note is registered on
the Note Register.

     “Notes” shall mean the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class
A-4 Notes, the Class B Notes, the Class C Notes and the Class D Notes, collectively.

     “Obligor” on a Receivable shall mean the purchaser or co-purchasers of the Financed Vehicle or
any other Person who owes payments under the Receivable.

     “Offered Notes” shall mean, collectively, the Class A Notes, the Class B Notes, and the Class
C Notes.

     “Officer’s Certificate” shall mean (i) with respect to the Issuer, a certificate signed by any
Authorized Officer of the Issuer and (ii) with respect to the Depositor or the Servicer, a
certificate signed by any officer of the Depositor or the Servicer, as applicable.

     “Opinion of Counsel” shall mean a written opinion of counsel which counsel shall be acceptable
to the Indenture Trustee, the Owner Trustee or the Rating Agencies, as applicable.

     “Optional Purchase Price” shall mean, with respect to any Payment Date, an amount equal to the
greater of (a) the fair market value of the Trust Estate as of such Payment Date or (b) the sum of
(i) the unpaid principal amount of the Notes plus accrued and unpaid interest thereon up to but
excluding that Payment Date and (ii) all amounts owing by the Issuer to the Owner Trustee, the
Indenture Trustee and the Servicer as of such Payment Date, to the extent not previously paid.

     “Original Pool Balance” shall mean an amount equal to the aggregate Principal Balance of the
Receivables as of the Cut-off Date, which shall be $1,316,680,348.05.

     “Originator” shall mean Huntington, with respect to the Huntington Receivables, Ford Credit,
with respect to the Ford Credit Receivables and OSB, with respect to the OSB Receivables.

     “Originator Agreement” means a Ford Credit Agreement, a Huntington Agreement or an OSB
Agreement.

     “Originator Purchase Agreement” means the Ford Credit Purchase Agreement, OSB Purchase
Agreement or the Huntington Purchase and Servicing Agreement.

     “OSB” shall mean Ohio Savings Bank, a federal savings bank, and its successors.

Appendix A

 

 

     “OSB Agreements” shall mean the OSB Assignment, Assumption and Recognition Agreement and the
OSB Purchase Agreement.

     “OSB Assignment, Assumption and Recognition Agreement” shall mean the Assignment, Assumption
and Recognition Agreement, dated as of the Closing Date, by and among OSB, Trust III and the
Depositor.

     “OSB Purchase Agreement” shall mean the Purchase Agreement, dated as of June 28, 2005, by and
between OSB and Trust III.

     “OSB Receivables” shall mean the Receivables listed in Schedule A to the Sale and Servicing
Agreement as the OSB Receivables, which Receivables were sold by OSB to Trust III under the OSB
Purchase Agreement and by Trust III to the Depositor under the Trust III Receivables Purchase
Agreement.

     “OSB Receivables Representations” shall mean the representations and warranties by OSB about
the OSB Receivables, as such representations and warranties are set forth in the OSB Purchase
Agreement, the breach of which would result in a requirement by OSB to repurchase the Receivable
under the OSB Purchase Agreement.

     “Other Assets” shall mean any assets (or interests therein) (other than the Trust Property)
conveyed or purported to be conveyed by the Depositor to another Person or Persons other than the
Issuer, whether by way of a sale, capital contribution or by virtue of the granting of a lien.

     “Outstanding” shall mean with respect to the Notes, as of the date of determination, all Notes
theretofore authenticated and delivered under the Indenture, as applicable, except:

     (a) Notes theretofore cancelled by the Note Registrar or delivered to the Note
Registrar for cancellation;

     (b) Notes or portions thereof the payment for which money in the necessary amount has
been theretofore deposited with the Indenture Trustee or any Note Paying Agent in trust for
the Noteholders of such Notes (provided, however, that if such Notes are to be prepaid,
notice of such prepayment has been duly given pursuant to the Indenture or provision for
such notice has been made, satisfactory to the Indenture Trustee); and

     (c) Notes in exchange for or in lieu of which other Notes have been authenticated and
delivered pursuant to the Indenture unless proof satisfactory to the
Indenture Trustee or the Note Registrar, as applicable, is presented that any such
notes are held by a bona fide purchaser;

     provided, that in determining whether the holders of Notes evidencing the requisite Outstanding
Amount of the Notes have given any request, demand, authorization, direction, notice, consent, or
waiver under any Basic Document, Notes owned by the Issuer, any other obligor upon the Notes, the
Depositor, the Servicer or any Affiliate of any of the foregoing Persons shall be disregarded and
deemed not to be Outstanding, except that, in determining whether the Indenture Trustee, shall be
fully protected in relying on any such request, demand, authorization, direction,

Appendix A

 

 

notice, consent,
or waiver, only Notes that a Responsible Officer of the Indenture Trustee actually knows to be so
owned shall be so disregarded; provided, however, if the Issuer, any other obligor upon the Notes,
the Depositor, the Servicer or any Affiliate of any of the foregoing Persons owns an entire Class
of Notes, such Notes shall be deemed to be Outstanding. Notes owned by the Issuer, any other
obligor upon the Notes, the Depositor, the Servicer or any Affiliate of any of the foregoing
Persons that have been pledged in good faith may be regarded as Outstanding if the pledgee
establishes to the satisfaction of the Indenture Trustee the pledgee’s right so to act with respect
to such Notes and that the pledgee is not the Issuer, any other obligor upon the Notes, the
Depositor, the Servicer or any Affiliate of any of the foregoing Persons.

     “Outstanding Amount” shall mean, as of any date of determination and as to any Notes, the
aggregate principal amount of such Notes Outstanding as of such date of determination.

     “Overcollateralization Increase Condition” shall be deemed in effect for any Payment Date if
any of the following are or were true on such Payment Date or either of the two preceding Payment
Dates:

     (a) the Three-Month Annualized Net Loss Ratio for such Payment Date is greater than or equal
to the Sequential Principal Payment Trigger Percentage in effect on that Payment Date;

     (b) the Three-Month Annualized Excess Spread Ratio for such Payment Date is less than 0.50%;
or

     (c) the Three-Month Delinquency Ratio for such Payment Date is greater than the corresponding
percentage below:

	 	 	 
	Payment Date	 	Percentage
	Through and including August 2006
	 	2.5%
	September 2006 through and including August 2007
	 	3.0%
	September 2007 and thereafter
	 	3.5%

     “Owner Trust Estate” shall mean all right, title and interest of the Issuer in, to and under
the property and rights assigned to the Issuer pursuant to Article II of the Sale and Servicing
Agreement.

     “Owner Trustee” shall mean Wilmington Trust Company, a Delaware banking corporation, not in
its individual capacity but solely as Owner Trustee under the Trust Agreement, or any successor
Owner Trustee under the Trust Agreement.

Appendix A

 

 

     “Owner Trustee Fee” means the fee payable to the Owner Trustee, as set forth in the fee letter
from the Owner Trustee to the Depositor.

     “Participant” shall mean a participant in or member of the Note Depository.

     “Payment Date” shall mean the 15th day of each calendar month or, if such day is
not a Business Day, the next succeeding Business Day.

     “Percentage Interest” shall mean, with respect to a Certificate, the individual percentage
interest of such Certificate, which shall be specified on the face thereof, in the distributions on
the Certificates. The sum of the Percentage Interests for all Certificates shall be 100%.

     “Permitted Investments” shall mean, on any date of determination, book-entry securities,
negotiable instruments or securities represented by instruments in bearer or registered form with
maturities not exceeding the Business Day preceding the next Payment Date which evidence:

     (a) direct non-callable obligations of, and obligations fully guaranteed as to timely
payment by, the United States of America;

     (b) demand deposits, time deposits or certificates of deposit of any depository
institution or trust company incorporated under the laws of the United States of America or
any state thereof (or any domestic branch of a foreign bank) and subject to supervision and
examination by federal or State banking or depository institution authorities; provided,
however, that at the time of the investment or contractual commitment to invest therein, the
commercial paper or other short-term unsecured debt obligations (other than such obligations
the rating of which is based on the credit of a Person other than such depository
institution or trust company) thereof shall have a credit rating from each of the Rating
Agencies in the highest investment category granted thereby;

     (c) commercial paper having, at the time of the investment or contractual commitment to
invest therein, a rating from each of the Rating Agencies in the highest investment category
granted thereby;

     (d) investments in money market funds having a rating from each of the Rating Agencies
in the highest investment category granted thereby (including funds for which the Indenture
Trustee or the Owner Trustee or any of their respective Affiliates is investment manager or
advisor);

     (e) bankers’ acceptances issued by any depository institution or trust company referred
to in clause (b) above;

     (f) repurchase obligations with respect to any security that is a direct non-callable
obligation of, or fully guaranteed by, the United States of America or any agency or
instrumentality thereof the obligations of which are backed by the full faith and credit of
the United States of America, in either case entered into with a depository institution or
trust company (acting as principal) described in clause (b); and

Appendix A

 

 

     (g) any other investment with respect to which the Rating Agency Condition is
satisfied.

     Each of the Permitted Investments may be purchased by the Indenture Trustee or through an affiliate
of the Indenture Trustee.

     “Person” shall mean any individual, corporation, estate, partnership, limited liability
company, joint venture, association, joint stock company, trust, unincorporated organization, or
government or any agency or political subdivision thereof.

     “Plan” shall mean an employee benefit or other plan or arrangement (such as an individual
retirement account or Keogh plan) that is subject to ERISA, Section 4975 of the Code or a Similar
Law, or an entity deemed to hold the assets of any of the foregoing by reason of investment by an
employee benefit plan or other plan in such entity.

     “Plan Assets Regulation” shall mean the Department of Labor’s regulation set forth at 29
C.F.R. Section 2510.3-101.

     “Pool Balance” shall mean, with respect to any Payment Date, an amount equal to the aggregate
Principal Balance of the Receivables at the end of the related Collection Period, after giving
effect to all payments of principal received from Obligors and Purchase Amounts to be remitted for
the related Collection Period.

     “Pool Factor” as of the last day of a Collection Period shall mean a nine-digit decimal figure
equal to the Pool Balance at that time divided by the Original Pool Balance.

     “Predecessor Note” shall mean, with respect to any particular Note, every previous Note
evidencing all or a portion of the same debt as that evidenced by such particular Note and, for
purposes of this definition, any Note authenticated and delivered under Section 2.6 of the
Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the
same debt as the mutilated, lost, destroyed or stolen Note.

     “Prepayment Date” shall mean with respect to a prepayment of the Notes pursuant to Section
10.1 of the Indenture, the Payment Date specified by Servicer or the Issuer pursuant to Section
10.1 of the Indenture.

     “Prepayment Price” shall mean in the case of a Class of Notes to be prepaid, an amount equal
to the unpaid principal amount of such Class of Notes plus accrued and unpaid interest thereon at
the applicable Note Interest Rate plus interest on any overdue interest at the applicable Note
Interest Rate (to the extent lawful) to but excluding the Prepayment Date.

     “Principal Balance” means, with respect to a Receivable, the principal balance of such
Receivable on the books and records of the applicable Receivables Servicer, calculated in
accordance with the customary practices of the Receivables Servicer.

     “Principal Distribution Account” shall mean the account established and maintained as such
pursuant to Section 4.1 of the Sale and Servicing Agreement.

Appendix A

 

 

     “Proceeding” shall mean any suit in equity, action at law or other judicial or administrative
proceeding.

     “Prospectus” shall have the meaning specified in the Underwriting Agreement.

     “Prospectus Supplement” shall have the meaning specified in the Underwriting Agreement.

     “Purchase Amount” shall mean (a) for a repurchase of a Ford Credit Receivable, the purchase
price for repurchases under the Ford Credit Purchase Agreement, (b) for a repurchase of a
Huntington Receivable, the purchase price for repurchases under the applicable Huntington
Agreement, and (c) for a repurchase of an OSB Receivable, the purchase price for repurchases under
the applicable OSB Agreement.

     “Purchased Property” shall mean, collectively, (i) the Receivables, (ii) all Collections
received after the Cut-off Date, (iii) the security interests in the Financed Vehicles granted by
Obligors pursuant to the Receivables and any other interest of the Issuer in the Financed Vehicles,
(iv) the Receivable Files, (v) the rights of Trust I under the Ford Credit Agreements, the rights
of Trust II under the Huntington Agreements and the rights of Trust III under the OSB Agreements
and the SST Servicing Agreement, as the case may be and (vi) all proceeds of the foregoing.

     “Purchased Receivable” shall mean a Receivable purchased pursuant to Section 3.6 of the Sale
and Servicing Agreement or repurchased pursuant to Section 2.3 of the Sale and Servicing Agreement.

     “Qualified Institutional Buyer” shall mean a qualified institutional buyer within the meaning
of Rule 144A under the Securities Act.

     “Rating Agency” means Fitch, Moody’s or Dominion, as the context may require. If none of
Fitch, Moody’s, Dominion or a successor thereto remains in existence, “Rating Agency” shall mean
any nationally recognized statistical rating organization or other comparable Person designated by
the Depositor, notice of which shall be given to the Indenture Trustee, the Owner Trustee and the
Servicer.

     “Rating Agency Condition” shall mean, with respect to any action, that each of the Rating
Agencies shall have notified the Servicer, the Depositor, the Owner Trustee and the Indenture
Trustee in writing that such action will not result in a reduction or withdrawal of the then
current rating of any of the Notes.

     “Receivable Files” shall mean the documents specified in Section 2.4 of the Sale and Servicing
Agreement.

     “Receivables” shall mean the Ford Credit Receivables, the Huntington Receivables and the OSB
Receivables, as the case may be, listed on Schedule A to the Sale and Servicing Agreement and all
proceeds thereof and rights to payments thereunder.

Appendix A

 

 

     “Receivables Purchase Agreements” shall mean the Trust I Receivables Purchase Agreement, Trust
II Receivables Purchase Agreement and the Trust III Receivables Purchase Agreement.

     “Receivables Servicer” shall mean (i) Ford Credit with respect to the Ford Credit Receivables,
(ii) Huntington with respect to the Huntington Receivables and (iii) SST with respect to the OSB
Receivables.

     “Receivables Servicer Servicing Fee” means, with respect to a Receivables Servicer and a
Collection Period, the amount of the Receivables Servicer Servicing Fee payable to such Receivables
Servicer under the applicable Receivables Servicer Servicing Agreement, which amount shall not
exceed one-twelfth of the Receivables Servicing Fee Rate multiplied by the aggregate Principal
Balance of those Receivables serviced by that Receivables Servicer as of the first day of that
Collection Period.

     “Receivables Servicer Supplemental Payment Amount” shall mean, with respect to any Payment
Date, the lesser of (a) the Netted Receivables Servicer Servicing Fee Amount for the related
Collection Period and (b) the excess, if any, of (i) the aggregate amount required to pay in full
those payments described in Section 8.2(c)(i) through (ix) of the Indenture (or, if there is a
Overcollateralization Increase Condition in effect, clauses (i) through (xi) of the Indenture) for
such Payment Date over (ii) the Available Funds (excluding clause (c) thereof) for such Payment
Date.

     “Receivables Servicing Agreement” shall mean the Ford Credit Servicing Agreement or the
Huntington Purchase and Servicing Agreement or the SST Servicing Agreement.

     “Receivables Servicing Fee Rate” shall mean an amount not to exceed 1.00% payable in
accordance with the applicable Receivables Servicing Agreement.

     “Record Date” shall mean, with respect to any Payment Date or Prepayment Date and any
Book-Entry Security, the close of business on the day prior to such Payment Date or Prepayment Date
or, with respect to any Definitive Note or Definitive Certificate, the last day of the month
preceding the month in which such Payment Date or Prepayment Date occurs.

     “Registered Noteholder” shall mean the Person in whose name a Note is registered on the Note
Register on the applicable Record Date.

     “Registration Statement” shall mean Registration Statement No. 333-101904 filed by the
Depositor with the Commission in the form in which it became effective on March 13, 2003.

     “Regular Allocation of Principal” shall mean, with respect to any Payment Date, an amount not
less than zero equal to the excess, if any, of (a) Pool Balance (excluding Liquidated Receivables)
as of the beginning of the related Collection Period minus the Pool Balance (excluding Liquidated
Receivables) as of the end of the related Collection Period over (b) the sum of the First
Allocation of Principal for such Payment Date, the Second Allocation of Principal for such Payment
Date and the Third Allocation of Principal for such Payment Date, minus (b) the excess, if any, of
(i) the aggregate principal amount of the receivables (excluding Liquidated Receivables) as of the
beginning of the related Collection Period minus the aggregate

Appendix A

 

 

outstanding principal amount of the
notes as of the preceding Payment Date (after giving effect to all payments made on such date) over
(iii) the Target Overcollateralization Level for that Payment Date.

     “Regulation S” shall mean Regulation S under the Securities Act.

     “Regulation S Global Note” shall have the meaning specified in Section 2.2 of the Indenture.

     “Representative” shall mean Goldman, Sachs & Co., as representative of the several
Underwriters.

     “Rule 144A Global Note” shall have the meaning specified in Section 2.2 of the Indenture.

     “Sale and Servicing Agreement” shall mean the Sale and Servicing Agreement, dated as of the
Closing Date, among the Issuer, the Depositor, the Indenture Trustee and the Servicer.

     “Sarbanes-Oxley Act” shall mean the Sarbanes-Oxley Act of 2002, as amended, modified or
supplemented from time to time, and any successor law thereto.

     “Schedule of Receivables” shall mean the list of Receivables attached as Schedule A to the
Sale and Servicing Agreement and the Indenture (which Schedules may be in the form of microfiche,
disk or other means acceptable to the Trustee).

     “Scheduled Payment” shall mean, for any Receivable, the scheduled monthly payment amount
indicated in such Receivable as required to be paid by the Obligor in such Collection Period
(without giving effect to deferments of payments pursuant to Section 3.2 of the Sale and Servicing
Agreement or any rescheduling in any insolvency or similar proceedings).

     “Second Allocation of Principal” shall mean, with respect to any Payment Date, an amount not
less than zero equal to (1) the excess, if any, of (x) the aggregate principal balance of the Class
A Notes and the Class B Notes as of the preceding Payment Date (after giving effect to any
principal payments made on the Class A Notes and the Class B Notes on such preceding Payment Date)
or, in the case of the initial Payment Date, the Closing Date, over (y) the Pool Balance as of the
end of the related Collection Period minus (2) the First Allocation of Principal for such Payment
Date; provided, however, that that the Second Allocation of Principal shall not exceed the sum of
the aggregate outstanding principal amount of the Class A Notes and the Class B Notes on such
Payment Date (after giving effect to any principal payments made on the Class A Notes and the Class
B Notes on such Payment Date in respect of the First Allocation of
Principal, if any); provided, further, however, that the Second Allocation of Principal for
any Payment Date on or after the Final Scheduled Payment Date for any class of Class B Notes shall
not be less than the amount such is necessary to reduce the Outstanding Amount of such class of
Class B Notes to zero.

     “Secretary of State” shall mean the Secretary of State of the State of Delaware.

     “Securities” shall mean the Notes and the Certificates, collectively.

Appendix A

 

 

     “Securities Act” shall mean the Securities Act of 1933, as amended.

     “Securityholder” shall mean a Noteholder or a Certificateholder, as applicable.

     “Sellers” shall mean Trust I, Trust II and Trust III.

     “Sequential Principal Payment Trigger Percentage” means, with respect to any Payment Date set
forth below, the percentage corresponding thereto:

	 	 	 
	Payment Date	 	Percentage
	Through and including August 2006
	 	2.0%
	September 2006 through and including August 2007
	 	2.5%
	September 2007 and thereafter
	 	3.0%

     “Servicer” shall mean Goldman Sachs Mortgage Company as the servicer of the Receivables under
the Sale and Servicing Agreement, and each successor to thereto (in the same capacity) pursuant to
Section 7.1 of the Sale and Servicing Agreement.

     “Servicing Fee” shall mean, with respect to a Collection Period, a fee payable to the Servicer
equal to one-twelfth of the Servicing Fee Rate multiplied by the aggregate Principal Balance of the
Receivables as of the first day of that Collection Period.

     “Servicing Fee Rate” shall mean 1.05%.

     “Similar Law” shall mean a foreign, federal, state or local law that imposes requirements
similar to Title I of ERISA or Section 4975 of the Code.

     “Simple Interest Method” shall mean the method of allocating a fixed level payment to
principal and interest, pursuant to which the portion of such payment that is allocated to interest
is equal to the amount of interest accrued from the date of the preceding payment to the date of
the current payment.

     “Simple Interest Receivable” shall mean any Receivable under which the portion of a payment
allocable to interest and the portion allocable to principal is determined in accordance with the
Simple Interest Method.

     “SST” shall mean Systems & Services Technologies, Inc., a Delaware corporation.

     “SST Deposit Account” shall mean the account at the Depository Institution into which
collections on the OSB Receivables are deposited.

     “SST Servicing Agreement” shall mean the Servicing Agreement, dated as of June 28, 2005, by
and between SST and Trust III.

Appendix A

 

 

     “State” shall mean any state or commonwealth of the United States of America, or the District
of Columbia.

     “Statutory Trust Statute” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Delaware
Code § 3801 et seq., as amended.

     “Successor Servicer” shall mean an institution appointed as successor Servicer pursuant to
Section 7.2 of the Sale and Servicing Agreement.

     “Supplemental Servicing Fees” means any late fees, NSF check fees or other similar amounts
entitled to be retained by the Receivables Servicers, if any, as set forth in the related
Receivables Servicing Agreement.

     “Target Overcollateralization Level” shall mean, on any Payment Date, the greater of (a) 3.50%
of the Pool Balance as of the end of the related Collection Period and (b) 1.00% of the Original
Pool Balance.

     “Temporary Regulation S Global Note” shall have the meaning specified in Section 2.2 of the
Indenture.

     “Third Allocation of Principal” shall mean, with respect to any Payment Date, an amount not
less than zero equal to (1) the excess, if any, of (x) the aggregate principal balance of the Class
A Notes, the Class B Notes and the Class C Notes as of the preceding Payment Date (after giving
effect to any principal payments made on the Class A Notes, the Class B Notes and the Class C Notes
on such preceding Payment Date) or, in the case of the initial Payment Date, the Closing Date, over
(y) the Pool Balance as of the end of the related Collection Period minus (2) the First Allocation
of Principal and the Second Allocation of Principal for such Payment Date; provided, however, that
that the Third Allocation of Principal shall not exceed the sum of the aggregate outstanding
principal amount of the Class A Notes, the Class B Notes and the Class C Notes on such Payment Date
(after giving effect to any principal payments made on the Class A Notes, the Class B Notes and the
Class C Notes on such Payment Date in respect of the First Allocation of Principal and Second
Allocation of Principal, if any); provided, further, however, that the Third Allocation of
Principal for any Payment Date on or after the Final Scheduled Payment Date for Class C Notes shall
not be less than the amount such is necessary to reduce the Outstanding Amount of Class C Notes to
zero.

     “Three-Month Annualized Excess Spread Ratio” means, with respect to any Payment Date, the
product of (x) twelve and (y) the average of the Monthly Excess Spread Ratios for that Payment Date
and each of the two preceding Payment Dates. For the purpose of this definition, the “Monthly
Excess Spread Ratio” means, for any Payment Date, a fraction expressed as a percentage, the
numerator of which is equal to the Excess Spread for that Payment Date and the denominator of which
is equal to the Pool Balance as of the first day of the preceding Collection Period.

     “Three-Month Annualized Net Loss Ratio” shall mean, with respect to any date of determination,
the product of (x) twelve and (y) the average of the Monthly Net Loss Ratios for each of the three
preceding Collection Periods (or if prior to three months from the Closing Date, the number of
whole Collection Periods since the Cut-off Date). For the purpose of this

Appendix A

 

 

definition, the “Monthly
Net Loss Ratio” means, for the last day of any Collection Period, a fraction expressed as a
percentage, the numerator of which is equal to the Net Liquidation Losses for that Collection
Period and the denominator of which is equal to the aggregate principal balance of the Receivables
as of the first day of that Collection Period.

     “Three-Month Delinquency Ratio” means, with respect to any date of determination, the average
of the Monthly Delinquency Ratios for each of the three preceding Collection Periods (or if prior
to three months from the Closing Date, the number of whole Collection Periods since the Cut-off
Date). For the purpose of this definition, the “Monthly Delinquency Ratio” means, for any
Collection Period, a fraction expressed as a percentage, the numerator of which is equal to the
Pool Balance (other than Liquidated Receivables) that are more than 30 days past due as of the
close of business on the last day of that Collection Period and the denominator of which is equal
to the Pool Balance (other than Liquidated Receivables) as of the close of business on the last day
of that Collection Period.

     “Transferred Assets” shall mean, collectively, (i) the Receivables, (ii) all Collections
received after the Cut-off Date, (iii) the security interests in the Financed Vehicles granted by
Obligors pursuant to the Receivables and any other interest of the Issuer in the Financed Vehicles,
(iv) the Receivable Files, (v) the rights of the Depositor under the Receivables Purchase
Agreements, the Huntington Assignment, Assumption and Recognition Agreement and the OSB Assignment,
Assumption and Recognition Agreement and (vi) all proceeds of the foregoing.

     “Treasury Regulations” shall mean regulations, including proposed or temporary regulations,
promulgated under the Code. References to specific provisions of proposed or temporary regulations
shall include analogous provisions of final Treasury Regulations or other successor Treasury
Regulations.

     “Trust Accounts” shall mean the Collection Account, the Principal Distribution Account and the
Certificate Distribution Account.

     “Trust Agreement” shall mean the Amended and Restated Trust Agreement of the Issuer dated as
of the Closing Date by and between the Depositor and the Owner Trustee, as amended and/or restated
from time to time.

     “Trust I” shall mean GS Whole Loan Trust, a Delaware statutory trust.

     “Trust II” shall mean GS Whole Loan Trust II, a Delaware statutory trust.

     “Trust III” shall mean GS Whole Loan Trust III, a Delaware statutory trust.

     “Trust I Receivables Purchase Agreement” shall mean the Receivables Purchase Agreement, dated
as of the Closing Date, by and between Trust I, as seller, and the Depositor, as purchaser.

     “Trust II Receivables Purchase Agreement” shall mean the Receivables Purchase Agreement, dated
as of the Closing Date, by and between Trust II, as seller, and the Depositor, as purchaser.

Appendix A

 

 

     “Trust III Receivables Purchase Agreement” shall mean the Receivables Purchase Agreement,
dated as of the Closing Date, by and between Trust III, as seller, and the Depositor, as purchaser.

     “Trust Indenture Act” or “TIA” shall mean the Trust Indenture Act of 1939, as amended, unless
otherwise specifically provided.

     “Trust Property” shall mean, collectively, (i) the Transferred Assets, (ii) the Trust
Accounts and all amounts, securities, investments, investment property and other property deposited
in or credited to any of the foregoing, all security entitlements relating to the foregoing and all
proceeds thereof, (iii) all of the Issuer’s rights under the Sale and Servicing Agreement and the
Guaranty and (iv) all proceeds of any of the foregoing.

     “Trustee Officer” shall mean, with respect to the Indenture Trustee, any officer within the
Corporate Trust Office of the Indenture Trustee with direct responsibility for the administration
of the Indenture and the other Basic Documents on behalf of the Indenture Trustee and also, with
respect to a particular matter, any other officer to whom such matter is referred because of such
officer’s knowledge of and familiarity with the particular subject and, with respect to the Owner
Trustee, any officer within the Corporate Trust Office of the Owner Trustee with direct
responsibility for the administration of the Trust Agreement and the other Basic Documents on
behalf of the Owner Trustee.

     “UCC” shall mean the Uniform Commercial Code as in effect in any relevant jurisdiction.

     “Underwriters” shall mean the underwriters named in Schedule I to the Underwriting Agreement.

     “Underwriting Agreement” shall mean the Underwriting Agreement, dated August 12, 2005 between
the Depositor and the Representative.

     “Underwritten Securities” shall mean the Class A Notes, Class B Notes and Class C Notes.

     “Unmatured Event of Default” shall mean an event which, with the giving of notice or lapse of
time or both, would constitute an Event of Default.

     “U.S. Person” shall have the meaning ascribed to such term in Regulation S.

Appendix A

 

 

APPENDIX B

FORM OF CERTIFICATION TO BE PROVIDED TO

THE DEPOSITOR BY THE INDENTURE TRUSTEE

Goldman Sachs Asset Backed Securities Corp.

85 Broad Street

New York, NY 10004

     Re:       GS Auto Loan Trust 2005-1

     Reference is made to the Sale and Servicing Agreement (the “Sale and Servicing
Agreement”), dated as of August 19, 2005, among GS Auto Loan Trust 2005-1 (the
“Issuer”), Goldman Sachs Asset Backed Securities Corp. (the “Depositor”), Goldman
Sachs Mortgage Company (the “Servicer”), and JPMorgan Chase Bank, National Association,
(the “Indenture Trustee”). The Indenture Trustee hereby certifies to the Depositor, and
its officers, directors and affiliates, and with the knowledge and intent that they will rely upon
this certification, that:

	(i)	 	The Indenture Trustee has reviewed the annual report on Form 10-K for the
fiscal year [ ], and all reports on Form 8-K containing distribution reports filed in
respect of periods included in the year covered by that annual report, relating to the
above-referenced trust (the “Reports”);
	 
	(ii)	 	Based on my knowledge, the information required to be provided by the Indenture
Trustee under the Sale and Servicing Agreement is included in these Reports. Based on
my knowledge, the information in the Reports, taken as a whole, does not contain any
untrue statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements were
made, not misleading.

     In giving the certifications above, I have reasonably relied on information provided to me by
the following unaffiliated parties: Goldman Sachs Mortgage Company, as Servicer, The Huntington
National Bank, as Receivables Servicer, Ford Motor Credit Company, as Receivables Servicer, and
Systems & Services Technologies, Inc., as Receivables Servicer.

Date:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Indenture Trustee

By:_____________________

Name:

Title:

Appendix B

 

 

SCHEDULE A

RECEIVABLES

Schedule Aexv4w4

 

Exhibit 4.4

CAPITALSOURCE INC.

AS PRIMARY OBLIGOR,

CAPITALSOURCE FINANCE LLC, AS GUARANTOR,

CAPITALSOURCE HOLDINGS INC., AS GUARANTOR,

AND

U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE

INDENTURE

DATED AS OF ________________________

SENIOR DEBT SECURITIES

 

 

Reconciliation and tie between Trust Indenture Act of 1939 (the “1939 Act”) and this Indenture,
dated as of ___.

	 	 	 
	 	 	Indenture
	Trust Indenture Act Section	 	Section
	ss. 310 (a)(1)
	 	607
	(a)(2)
	 	607
	(b)
	 	607, 608
	ss. 312 (c)
	 	701
	ss. 313 (a)
	 	702
	(c)
	 	702
	ss. 314 (a)
	 	703
	(a)(4)
	 	1011
	(c)(1)
	 	102
	(c)(2)
	 	102
	(e)
	 	102
	ss. 315 (b)
	 	601
	ss. 316 (a)(last sentence)
	 	101 (“Outstanding”)
	(a)(1)(A)
	 	502, 512
	(a)(1)(B)
	 	513
	(b)
	 	508
	ss. 317 (a)(l)
	 	503
	(a)(2)
	 	504
	ss. 318 (a)
	 	111
	(c)
	 	111

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

Attention should also be directed to Section 318(c) of the 1939 Act, which provides that the
provisions of Sections 310 to and including 317 of the 1939 Act are a part of and govern
every qualified indenture, whether or not physically contained therein.

 

 

          Indenture (this “Indenture”), dated as of      , 2005, by and between
CAPITALSOURCE INC., a Delaware corporation, as primary obligor (the “Company”), CAPITALSOURCE
FINANCE LLC, a Delaware limited liability corporation, as guarantor (“CapitalSource Finance” or a
“Guarantor”), CAPITALSOURCE HOLDINGS INC., a Delaware corporation, as guarantor (“CapitalSource
Holdings” or a “Guarantor” and, together with CapitalSource Finance and any other entity becoming a
guarantor hereunder, the “Guarantors”), each having their principal offices at 4445 Willard Avenue,
12th Floor, Chevy Chase, MD 20815, and U.S. BANK NATIONAL ASSOCIATION, a national bank
association organized under the laws of the United States, as trustee hereunder (the “Trustee”).

RECITALS

          WHEREAS, the Company deems it necessary to issue from time to time for its lawful purposes
senior debt securities (the “Securities”) evidencing its unsecured senior indebtedness, and has
duly authorized the execution and delivery of this Indenture to provide for the issuance from time
to time of the Securities, unlimited as to aggregate principal amount, to bear interest at the
rates or formulas, to mature at such times and to have such other provisions as shall be fixed
therefor as hereinafter provided.

          WHEREAS, this Indenture is subject to the provisions of the Trust Indenture Act of 1939, as
amended, that are deemed to be incorporated into this Indenture and shall, to the extent
applicable, be governed by such provisions.

          WHEREAS, all things necessary to make this Indenture a valid agreement of the Company and each
Guarantor, if any, in accordance with its terms, have been done.

          NOW, THEREFORE, IN CONSIDERATION OF THE FOREGOING, and, in consideration of the premises and
the purchase of the Securities by the Holders (as defined below) thereof, it is mutually covenanted
and agreed, for the equal and proportionate benefit of all Holders of the Securities, as follows:

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

Section 101. Definitions

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

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

(2) all other terms used herein which are defined in the TIA, 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 311, shall
have the meanings assigned to them in the rules of the Commission adopted under
the TIA;

 

 

(3) all accounting terms not otherwise defined herein have the meanings assigned
to them in accordance with GAAP; and

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

Certain terms, used principally in Article Three, Article Five, Article Six and
Article Ten, are defined in those Articles. In addition, the following terms shall
have the indicated respective meanings:

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

          “Additional Amounts” means any additional amounts which are required by a Security or by or
pursuant to a Board Resolution, under circumstances specified therein, to be paid by the Company in
respect of certain taxes imposed on certain Holders and which are owing to such Holders.

          “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For 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.

          “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial
interests in any Global Note, the rules and procedures of DTC or any successor depositary that
apply to such transfer and exchange.

          “Authenticating Agent” means any authenticating agent appointed by the Trustee pursuant to
Section 611.

          “Authorized Newspaper” means a newspaper, printed in the English language or in an official
language of the country of publication, customarily published on each Business Day, whether or not
published on Saturdays, Sundays or holidays, and of general circulation in each place in connection
with which the term is used or in the financial community of each such

- 2 -

 

place. Whenever successive publications are required to be made in Authorized Newspapers, the
successive publications may be made in the same or in different Authorized Newspapers in the same
city meeting the foregoing requirements and in each case on any Business Day.

          “Bankruptcy Law” has the meaning specified in Section 501.

          “Bearer Security” means any Security established pursuant to Section 201 which is payable to
bearer.

          “Board of Directors” means the board of directors of the Company, or other body with analogous
authority with respect to the Company or a Guarantor, as applicable, the executive committee or any
committee of that board or body duly authorized to act hereunder, as the case may be.

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

          “Business Day”, when used with respect to 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 301, any day, other than a Saturday or Sunday, that
is neither a legal holiday nor a day on which banking institutions in that Place of Payment or
particular location are authorized or required by law, regulation or executive order to close.

          “Capital Stock” means, with respect to any Person, any and all shares (including preferred
shares), interests, participations or other equity ownership interests (however designated, whether
voting or non-voting) in the Person and any rights (other than debt securities convertible into or
exchangeable for corporate Capital Stock), warrants or options to purchase any thereof.

          “Clearstream” means Clearstream Banking, société anonyme, Luxembourg, or its successor.

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

          “Common Depositary” has the meaning specified in Section 304(b).

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

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          “Company Request” and “Company Order” mean, respectively, a written request or order signed in
the name of and on behalf of the Company by its Chairman of the Board, its Chief Executive Officer,
its President or a Vice President, and by its Treasurer or an Assistant Treasurer, its Secretary or
an Assistant Secretary, or its Chief Financial Officer, and delivered to the Trustee.

          “Conversion Event” means the cessation of use of (i) a Foreign Currency other than the Euro
both by the government of the country that issued such currency and for the settlement of
transactions by a central bank or other public institutions of or within the international banking
community, (ii) the Euro both within the member states of the European Union that have adopted the
single currency in accordance with the treaty establishing the European Community as amended by the
treaty of the European Union and for the settlement of transactions by public institutions of or
within the European Union or (iii) any currency for the purposes for which it was established.

          “Corporate Trust Office” means the principal corporate trust office of the Trustee at which,
at any particular time, its corporate trust business shall be administered, which office at the
date hereof is located at 60 Livingston Avenue, St. Paul, MN 55107.

          “corporation” includes corporations, limited partnerships, limited liability companies, real
estate investment trusts, associations, companies and business trusts.

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

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

          “Custodian” has the meaning specified in Section 501.

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

          “DTC” means The Depository Trust Company for so long as it shall be a clearing agency
registered under the Exchange Act, or such successor as the Company shall designate from time to
time in an Officer’s Certificate delivered to the Trustee.

          “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.

          “Encumbrance” means any mortgage, trust deed, deed of trust, deed to secure Indebtedness,
security agreement, pledge, charge, lien, conditional sale or other title retention agreement,
capitalized lease, or other like agreement granting or conveying security title to or a security
interest in real property or other tangible asset(s).

          “Euroclear” means Morgan Guaranty Trust Company of New York, Brussels Office, or its successor
as operator of the Euroclear System.

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          “Event of Default” has the meaning specified in Article Five.

          “Exchange Act” means the Securities Exchange Act of 1934 and any successor statute thereto, in
each case as amended from time to time, and the rules and regulations of the Commission thereunder.

          “Exchange Date” has the meaning specified in Section 304(b).

          “Foreign Currency” means any currency issued by the government of one or more countries other
than the United States of America or by any recognized confederation or association of such
governments.

          “GAAP” means generally accepted accounting principles, as in effect from time to time, as used
in the United States applied on a consistent basis; provided, that solely for purposes of any
calculation required by the financial covenants contained herein, “GAAP” shall mean generally
accepted accounting principles as used in the United States on the date hereof, applied on a
consistent basis.

          “Government Obligations” means securities which are (i) direct obligations of the United
States of America or the government which issued the Foreign Currency in which the Securities of a
particular series are payable, for the payment of which its full faith and credit is pledged or
(ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States of America or such government which issued the Foreign Currency in which the
Securities of such series are payable, the payment of which is unconditionally guaranteed as a full
faith and credit obligation by the United States of America or such other government, which, in
either case, are not callable or redeemable at the option of the issuer thereof, and shall also
include a depository receipt issued by a bank or trust company as custodian with respect to any
such obligation or a specific payment of interest on or principal of any such 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
obligation or the specific payment of interest on or principal of the obligation evidenced by such
depository receipt.

          “Guaranteed Obligations” has the meaning specified in Section 1201.

          “Guarantees” means the guarantees of the Guarantors, as set forth in Article Twelve, in one or
more supplemental indentures hereto, or in any additional guarantee of the Securities executed
under the terms of this Indenture.

          “Guarantor” means CapitalSource Finance LLC, CapitalSource Holdings Inc. or any other Person
that executes a Guarantee until in any such case a successor
Guarantor shall have become such pursuant to the applicable provisions
of this Indenture and thereafter “Guarantor ” shall mean such successor Guarantor.

          “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.

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          “Indebtedness” of the Company or any Subsidiary means any indebtedness of the Company or any
Subsidiary, whether or not contingent, in respect of (i) borrowed money or indebtedness evidenced
by bonds, notes, debentures or similar instruments, (ii) borrowed money or indebtedness evidenced
by bonds, notes, debentures or similar instruments secured by any Encumbrance existing on property
owned by the Company or any Subsidiary, (iii) reimbursement obligations in connection with any
letters of credit actually issued or amounts representing the balance deferred and unpaid of the
purchase price of any property or services, except any such balance that constitutes an accrued
expense or trade payable, and (iv) any lease of property by the Company or any Subsidiary as lessee
which is reflected on the Company’s consolidated balance sheet as a capitalized lease in accordance
with GAAP, to the extent, in the case of items of indebtedness under (i) through (iii) above, that
any such items (other than reimbursement obligations in connection with letters of credit) would
appear as a liability on the Company’s consolidated balance sheet in accordance with GAAP, and also
includes, to the extent not otherwise included, any obligation of the Company or any Subsidiary to
be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes of collection
in the ordinary course of business), Indebtedness of another Person (other than the Company or any
Subsidiary) (it being understood that Indebtedness shall be deemed to be incurred by the Company or
any Subsidiary whenever the Company or the Subsidiary shall create, assume, guarantee or otherwise
become liable in respect thereof; Indebtedness of a Subsidiary of the Company existing prior to the
time it becomes a Subsidiary of the Company shall be deemed to be incurred upon such Subsidiary’s
becoming a Subsidiary of the Company; and Indebtedness of a Person existing prior to a merger or
consolidation of such Person with the Company or any Subsidiary of the Company in which such Person
is the successor of the Company or such Subsidiary shall be deemed to be incurred upon the
consummation of such merger or consolidation).

          “Indenture” means 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 particular series of Securities
established as contemplated by Section 301; 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 301, exclusive, however, of any provisions or terms which relate solely to
other series of Securities for which such Person is 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, shall mean interest payable after Maturity, and,

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when used with respect to a Security which provides for the payment of Additional Amounts
pursuant to Section 1012, includes such Additional Amounts.

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

          “Make-Whole Amount” means, in connection with any optional redemption or accelerated payment
of any Securities, the excess, if any, of: (i) the aggregate present value as of the date of such
redemption or accelerated payment of each dollar of principal being redeemed or paid and the amount
of interest (exclusive of interest accrued to the date of redemption or accelerated payment) that
would have been payable in respect of each such dollar if such redemption or accelerated payment
had not been made, determined by discounting such principal and interest at the Reinvestment Rate
(determined on the third Business Day preceding the date notice of such redemption is given) from
the respective dates on which such principal and interest would have been payable if such
redemption or accelerated payment had not been made to the date of redemption or accelerated
payment; over (ii) the aggregate principal amount of the Securities being redeemed or paid.

          “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.

          “Non-Recourse Indebtedness” means Indebtedness for which the right of recovery of the obligee
thereof is limited to recourse against the collateral securing such Indebtedness (subject to such
limited exceptions to the non-recourse nature of such Indebtedness such as fraud, misappropriation,
misapplication and environmental indemnities, as are usual and customary in like transactions at
the time of the incurrence of such Indebtedness).

          “Officers’ Certificate” means a certificate signed by the Chairman of the Board of Directors,
the Chief Executive Officer, the President or a Vice President and by the Chief Financial Officer,
the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, or equivalent
officials of the Company, or a Guarantor, as applicable, and delivered to the Trustee.

          “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company or
a Guarantor, as applicable, or who may be an employee of or other counsel for the Company or a
Guarantor, as applicable, and which opinion shall be reasonably satisfactory to the Trustee.

          “Original Issue Discount Security” means any Security which provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 502.

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

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(i) Securities theretofore canceled by the Trustee or delivered to the 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 the Trustee or any Paying Agent (other than the Company) in trust
or set aside and segregated in trust by the Company (if the Company shall act as
its own Paying Agent) for the Holders of such Securities and any coupons
appertaining thereto, provided that, if such Securities are to be redeemed, notice
of such redemption has been duly given pursuant to this Indenture or provision
therefor satisfactory to the Trustee has been made;

(iii) Securities, except to the extent provided in Sections 1402 and 1403, with
respect to which the Company has effected defeasance and/or covenant defeasance as
provided in Article Fourteen;

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

(v) Securities converted into or exchanged for Capital Stock in accordance with
this Indenture if the terms of such Securities provide for convertibility or
exchangeability in accordance with section 301;

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 502, (ii) the
principal amount of any Security denominated in a Foreign Currency or Currencies 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 pursuant to Section 301 as of the date
such Security is originally issued by the Company, 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 301, 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,

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except that, in determining whether the Trustee 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 Trustee knows 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 Trustee the pledgee’s right so to act with respect to such Securities and
that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of
the Company or of such other obligor.

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

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

          “Place of Payment”, when used with respect to the Securities of or within any series, means
the place or places where the principal of (and premium or Make-Whole Amount, if any) and interest
on such Securities are payable as specified as contemplated by Sections 301 and 1002.

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

          “Recourse Indebtedness” shall mean Indebtedness of the Company or any Subsidiary that is not
Non-Recourse Indebtedness.

          “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, means the price at
which it is to be redeemed pursuant to this Indenture.

          “Registered Security” shall mean any Security which is 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 301, whether or not a Business Day.

          “Reinvestment Rate” means a rate per annum equal to the sum of (i) .25% (or such other
percentage specified in the terms of any Securities) plus (ii) the arithmetic mean of the yields
under the heading “Week Ending” published in the most recent Statistical Release under

- 9 -

 

the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month)
corresponding to the remaining life to maturity, as of the payment date of the principal being
redeemed or paid. If no maturity exactly corresponds to such maturity, yields for the two
published maturities most closely corresponding to such maturity shall be calculated pursuant to
the immediately preceding sentence and the Reinvestment Rate shall be interpolated or extrapolated
from such yields on a straight-line basis, rounding in each of such relevant periods to the nearest
month. For the purposes of calculating the Reinvestment Rate, the most recent Statistical Release
published prior to the date of determination of the Make-Whole Amount shall be used. If the format
or content of the Statistical Release changes in a manner that precludes determination of the
Treasury yield in the above manner, then the Treasury yield shall be determined in the manner that
most closely approximates the above manner, as reasonably determined by the Company. If the format
or content of the Statistical Release changes in a manner that precludes determination of the
Treasury yield in the above manner, then the Treasury yield shall be determined in the manner that
most closely approximates the above manner, as reasonably determined by the Company.

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

          “Repayment Price”, when used with respect to any Security to be repaid at the option of the
Holder, means the price at which it is to be repaid by or pursuant to this Indenture.

          “Responsible Officer”, when used with respect to the Trustee, means any vice president, any
assistant secretary, any assistant vice president, any trust officer or any other officer of the
Trustee customarily performing functions similar to those performed by any of the Persons who at
the time shall be such officers, respectively, and also means, with respect to a particular
corporate trust matter, any other officer to whom such matter is referred because of such officer’s
knowledge and familiarity with the particular subject.

          “Securities Act” means the Securities Act of 1933 and any successor statute thereto, in each
case as amended from time to time, and the rules and regulations of the Commission thereunder.

          “Security” has the meaning stated in the first recital of this Indenture and, more
particularly, means any Security or 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
305.

          “Significant Subsidiary” means any Subsidiary which is a “significant subsidiary” (as defined
in Article I, Rule 1-02 of Regulation S-X, promulgated under the Securities Act) of the Company.

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          “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 Trustee pursuant to Section 307.

          “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.

          “Statistical Release” means the statistical release designated “H.15(519)” or any successor
publication which is published weekly by the Board of Governors of the Federal Reserve System and
which reports yields on actively traded United States government securities adjusted to constant
maturities, or, if such statistical release is not published at the time of any determination under
the Indenture, then such other reasonably comparable index which shall be designated by the
Company.

          “Subsidiary” means a corporation, partnership or other entity a majority of the voting power
of the voting equity securities or the outstanding equity interests of which are owned, directly or
indirectly, by the Company, a Guarantor or by one or more other Subsidiaries of the Company or a
Guarantor. For the purposes of this definition, “voting equity securities” means equity securities
having voting power for the election of directors, whether at all times or only so long as no
senior class of security has such voting power by reason of any contingency.

          “Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended and as in
force at the date as of which this Indenture was executed, except as provided in Section 905.

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

          “United States” means, unless otherwise specified with respect to any Securities pursuant to
Section 301, 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 301, an individual who is a citizen or resident of the United States, a
corporation, partnership or other entity created or organized in or under the laws of the United
States or an estate or trust the income of which is subject to United States federal income
taxation regardless of its source.

          “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.

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Section 102. Compliance Certificates and Opinions

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

          Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (including certificates delivered pursuant to Section 1011) shall include:

	 	(1)	 	a statement that each individual signing such certificate or opinion has read
such condition or covenant and the definitions herein relating thereto;
	 
	 	(2)	 	a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or
opinion are based;
	 
	 	(3)	 	a statement that, in the opinion of 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 condition or covenant has been complied with; and
	 
	 	(4)	 	a statement as to whether, in the opinion of each such individual, such
condition or covenant has been complied with.

Section 103. Form of Documents Delivered to Trustee.

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

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

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

Section 104. 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 Securities of such series may, alternatively, be
embodied in and evidenced by the record of Holders of Securities of such series voting in favor
thereof, either in person or by proxies duly appointed in writing, at any meeting of Holders of
Securities of such series duly called and held in accordance with the provisions of Article
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 Trustee and, where it is hereby expressly required, to the
Company. Such instrument or instruments and any such record (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such
instrument or instruments or so voting at any such meeting. Proof of execution of any such
instrument or of a writing appointing any such agent, or of the holding by any Person of a
Security, shall be sufficient for any purpose of this Indenture and conclusive in favor of the
Trustee and the Company and any agent of the Trustee or the Company, if made in the manner provided
in this Section. The record of any meeting of Holders of Securities shall be proved in the manner
provided in Section 1506.

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

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

               (d) The ownership of Bearer Securities 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 Trustee to be
satisfactory, showing that at the date therein mentioned such Person had on deposit with such
depositary, or exhibited to it, the Bearer Securities therein described; or such facts may be
proved by the certificate or affidavit of the Person holding such Bearer Securities, if

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such certificate or affidavit is deemed by the Trustee to be satisfactory. The Trustee and the
Company may assume that such ownership of any Bearer Security continues until (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 Trustee 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 ownership of Bearer Securities may also be proved in any other manner
which the Trustee deems 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, in 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 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.

               (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 Trustee, any Security
Registrar, any Paying Agent, any Authenticating Agent or the Company in reliance thereon, whether
or not notation of such action is made upon such Security.

Section 105. Notices, etc., to Trustee and Company.

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

	 	(1)	 	the Trustee by 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 Trustee
at its Corporate Trust Office,
	 
	 	(2)	 	the Company by the Trustee or by any Holder shall be sufficient for every
purpose hereunder (unless otherwise herein expressly provided) if in writing and
mailed, first class postage prepaid, to the Company addressed to it at the address

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	 	 	 	of its principal office, 4445 Willard Avenue, 12th Floor, Chevy Chase, MD
20815, tel.: (301) 841-2700, facsimile: (301) 841-2380, or at any other address
previously furnished in writing to the Trustee by the Company, or
	 
	 	(3)	 	a Guarantor by the Trustee or by any Holder shall be sufficient for every
purpose hereunder (unless otherwise herein expressly provided) if in writing and
mailed, first class postage prepaid, to such Guarantor addressed to it at the address
of its principal office, 4445 Willard Avenue, 12th Floor, Chevy Chase, MD
20815, tel.: (301) 841-2700, facsimile: (301) 841-2380, or at any other address
previously furnished in writing to the Trustee by the Guarantor.

Section 106. Notice to Holders; Waiver.

          Where this Indenture provides for notice of any event to Holders of Registered Securities by
the Company or the Trustee, 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 herein. 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.

          If by reason of the suspension of or irregularities in regular mail service or by reason of
any other cause it shall be impracticable to give such notice by mail, then such notification to
Holders of Registered Securities as shall be made with the approval of the Trustee shall constitute
a sufficient notification to such Holders for every purpose hereunder.

          Except as otherwise expressly provided herein or otherwise specified with respect to any
Securities pursuant to Section 301, where this Indenture provides for notice to Holders of Bearer
Securities of any event, such notice shall be sufficiently given 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, such publication to be not later than the latest date, and not
earlier than the earliest date, prescribed for the giving of such notice. Any such notice shall be
deemed to have been given on the date of such publication or, if published more than once, on the
date of the first such publication.

          If by reason of the suspension of publication of any Authorized Newspaper or Authorized
Newspapers or by reason of any other cause it shall be impracticable to publish any notice to
Holders of Bearer Securities as provided above, then such notification to Holders of Bearer
Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to
such Holders for every purpose hereunder. Neither the failure to give notice by publication to any
particular Holder 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

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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
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver.

Section 107. 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 108. Successors and Assigns.

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

Section 109. Separability 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.

Section 110. Benefits of Indenture.

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

Section 111. No Personal Liability.

          No recourse under or upon any obligation, covenant or agreement contained in this Indenture,
in any Security or coupon appertaining thereto, or because of any indebtedness evidenced thereby,
shall be had against any promoter, as such, or against any past,
present or future shareholder, member, partner, officer, trustee or director, as such, of the Company or any Guarantor or of any successor thereof, either
directly or through the Company or any Guarantor or any successor thereof, 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 thereof and as part of the consideration for the issue
of the Securities.

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Section 112. 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.

Section 113. Legal Holidays.

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

ARTICLE TWO

FORMS OF SECURITIES

Section 201. Forms of Securities.

          The Registered Securities, if any, of each series and the Bearer Securities, if any, of each
series and related coupons shall be in substantially the forms as shall be established in one or
more indentures supplemental hereto or approved from time to time by or pursuant to a Board
Resolution in accordance with this Indenture, shall have such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture or any indenture
supplemental hereto, and may have such letters, numbers or other marks of identification or
designation and such legends or endorsements placed thereon as the Company may deem appropriate and
as are not inconsistent with the provisions of this Indenture, or as may be required to comply with
any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any
stock exchange on which the Securities may be listed, or to conform to usage.

          Unless otherwise specified as contemplated by Section 301, Bearer Securities shall have
interest coupons attached.

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

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Section 202. Form of Trustee’s Certificate of Authentication.

          Subject to Section 611, the Trustee’s certificate of authentication shall be in substantially
the following form:

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

	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee
	 
	 	 	 	 
	 

	 	   By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Signatory

Section 203. Securities Issuable in Global Form.

          If Securities of or within a series are issuable in global form, as specified as contemplated
by Section 301, then, notwithstanding clause (8) of Section 301 and the provisions of Section 302,
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 Trustee in such manner and upon instructions given by such Person or Persons as shall
be specified therein or in the Company Order to be delivered to the Trustee pursuant to Section 303
or 304. Subject to the provisions of Section 303 and, if applicable, Section 304, the Trustee shall
deliver and redeliver any Security in permanent global form in the manner and upon instructions
given by the Person or Persons specified therein or in the applicable Company Order. If a Company
Order pursuant to Section 303 or 304 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 102 and need not be accompanied by an Opinion
of Counsel.

          The provisions of the last sentence of Section 303 shall apply to any Security represented by
a Security in global form if such Security was never issued and sold by the Company and the Company
delivers to the Trustee the Security in global form together with written instructions (which need
not comply with Section 102 and need not be accompanied by an Opinion of Counsel) with regard to
the reduction in the principal amount of Securities represented thereby, together with the written
statement contemplated by the last sentence of Section 303.

          Notwithstanding the provisions of Section 307, unless otherwise specified as contemplated by
Section 301, payment of principal of and any premium and interest on any Security in permanent
global form shall be made to the Person or Persons specified therein.

          Notwithstanding the provisions of Section 308 and except as provided in the preceding
paragraph, the Company, the Trustee and any agent of the Company and the Trustee

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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, Euroclear or Clearstream.

ARTICLE THREE

THE SECURITIES

Section 301. Amount Unlimited; Issuable in Series.

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

          The Securities may be issued in one or more series. There shall be established in one or more
Board Resolutions or pursuant to authority granted by one or more Board Resolutions and, subject to
Section 303, set forth, or determined in the manner provided, in an Officers’ 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 (each of which (except for the matters set
forth in clauses (1), (2) and (15) below), if so provided, may be determined from time to time by
the Company with respect to unissued Securities of the series when issued from time to time):

	 	(1)	 	the title of the Securities of the series (which shall distinguish the
Securities of such series from all other series of Securities);
	 
	 	(2)	 	the aggregate principal amount 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 of, or in exchange for, or in lieu of, other Securities of the series pursuant
to Section 303, 304, 305, 306, 906, 1107 or 1305);
	 
	 	(3)	 	the date or dates, or the method by which such date or dates will be
determined, on which the principal of the Securities of the series shall be payable;
	 
	 	(4)	 	the rate or rates at which the Securities of the series shall bear interest, if
any, or the method by which such rate or rates shall be determined, 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 will 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 shall be determined, and
the basis upon which interest shall be calculated if other than that of a 360-day year
of twelve 30-day months;
	 
	 	(5)	 	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 (and premium or Make-Whole
Amount, if any), interest, if any, on, and Additional Amounts, if any, payable in
respect of, Securities of the series shall be payable, any Registered Securities of

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	 	 	 	the series may be surrendered for registration of transfer, exchange or conversion
and notices or demands to or upon the Company in respect of the Securities of the
series and this Indenture may be served;
	 
	 	(6)	 	the date or dates on which, or the period or periods within which, the price or
prices (including the premium or Make-Whole Amount, if any) at which, the currency or
currencies 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 the option;
	 
	 	(7)	 	the obligation, if any, of the Company to redeem, repay or purchase Securities
of the series pursuant to any provision or at the option of a Holder thereof, and the
period or periods within which or the date or dates on which, the price or prices at
which, the currency or currencies in which, and other terms and conditions upon which
Securities of the series shall be redeemed, repaid or purchased (including, without
limitation, whether, and the extent to which, the premium shall be payable in
connection therewith), in whole or in part, pursuant to such obligation, including any
sinking fund payments;
	 
	 	(8)	 	if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which any Registered Securities of the series shall be issuable and,
if other than the denomination of $5,000, the denomination or denominations in which
any Bearer Securities of the series shall be issuable;
	 
	 	(9)	 	if other than the Trustee, the identity of each Security Registrar and/or
Paying Agent;
	 
	 	(10)	 	the percentage of the principal amount of such Securities that will be issued
and, 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 502;
	 
	 	(11)	 	the terms and conditions, if any, upon which the Securities may be convertible
or exchangeable into common stock of the Company or other Capital Stock and the terms
and conditions upon which such conversion or exchange may be effected, including,
without limitation, the initial conversion or exchange price or rate (or manner of
calculation thereof), the portion that is convertible or exchangeable or the method by
which any such portion shall be determined, the conversion or exchange period,
provisions as to whether conversion or exchange will be at the option of the holders or
the Company’s option, the events requiring an adjustment of the conversion or exchange
price and provisions affecting conversion or exchange in the event of the redemption of
such Securities;
	 
	 	(12)	 	if convertible or exchangeable, any applicable limitations on the ownership or
transferability of the Capital Stock into which such series of Securities is
convertible;

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	 	(13)	 	if other than Dollars, the Foreign Currency or Currencies in which payment of
the principal of (and premium or Make-Whole Amount, if any) or interest or Additional
Amounts, if any, on the Securities of the series shall be payable or in which the
Securities of the series shall be denominated;
	 
	 	(14)	 	whether the amount of payments of principal of (and premium or Make-Whole
Amount, 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 (and premium or Make-Whole Amount, if any) or interest
or Additional Amounts, 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 or currencies other
than that in which such Securities are denominated or stated to be payable, the period
or periods within which, and the terms and conditions upon which, such election may be
made, and the time and manner of, and identity of the exchange rate agent with
responsibility for, determining the exchange rate between the currency or currencies in
which such Securities are denominated or stated to be payable and the currency or
currencies in which such Securities are to be so payable;
	 
	 	(16)	 	provisions, if any, granting special rights to the Holders of Securities of the
series upon the occurrence of such events as may be specified;
	 
	 	(17)	 	any deletions from, modifications of or additions to the Events of Default or
covenants 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;
	 
	 	(18)	 	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 Bearer Securities and the terms upon which Bearer Securities
of the series may be exchanged for Registered Securities of the series and vice versa
(if permitted by applicable laws and regulations), 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 305, and, if Registered
Securities of the series are to be issuable as a global Security, the identity of the
depositary for such series;

- 21 -

 

	 	(19)	 	the date as of which any Bearer Securities of the series and any temporary
global Security representing Outstanding Securities of the series shall be dated if
other than the date of original issuance of the first Security of the series to be
issued;
	 
	 	(20)	 	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 304;
	 
	 	(21)	 	the applicability, if any, of Sections 1402 and/or 1403 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;
	 
	 	(22)	 	if the Securities of such 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,
then the form and/or terms of such certificates, documents or conditions;
	 
	 	(23)	 	if the Securities of the series are to be issued upon the exercise of warrants,
the time, manner and place for such Securities to be authenticated and delivered;
	 
	 	(24)	 	whether and under what circumstances the Company will pay Additional Amounts as
contemplated by Section 1012 on the Securities of the series to any Holder who is not a
United States person (including any modification to the definition of such term) in
respect of any tax, assessment or governmental charge and, if so, whether the Company
will have the option to redeem such Securities rather than pay such Additional Amounts
(and the terms of any such option);
	 
	 	(25)	 	whether and to what extent the Securities of the series are to be guaranteed by
CapitalSource Finance, CapitalSource Holdings, one or more Subsidiaries or other
Persons and the form of any such guarantee;
	 
	 	(26)	 	any other terms of the series (which terms shall not be inconsistent with 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 303) and set forth in such Officers’ Certificate or in any such indenture
supplemental hereto. All Securities of any one series need not be issued at the same time and,
unless otherwise provided, a series may be reopened, without the consent of the Holders, for
issuances of additional Securities of such series.

- 22 -

 

          If any of the terms of the Securities of any series are established by action taken pursuant
to one or more Board Resolutions, a copy of an appropriate record of such action(s) shall be
certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at
or prior to the delivery of the Officers’ Certificate setting forth the terms of the Securities of
such series.

Section 302 Denominations.

          The Securities of each series shall be issuable in such denominations as shall be specified as
contemplated by Section 301. With respect to Securities of any series denominated in Dollars, in
the absence of any such provisions with respect to the Securities of any series, 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 Bearer Securities issued in global form (which
may be of any denomination), shall be issuable in denominations of $5,000.

Section 303. Execution, Authentication, Delivery and Dating.

          The Securities and any coupons appertaining thereto shall be executed by the Company’s
Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, Secretary or
one of its Vice Presidents. The signature of any of these officers on the Securities and coupons
may be 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 coupon appertaining thereto,
executed by the Company to the Trustee for authentication, together with a Company Order for the
authentication and delivery of such Securities, and the Trustee in accordance with the 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; and provided further that, unless otherwise specified with respect to any series
of Securities pursuant to Section 301, 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 to Euroclear or Clearstream, as the case may be, in the form set forth in Exhibit A-1
to this Indenture or such other certificate as may be specified with respect to any series of
Securities pursuant to Section 301, 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 and Section 304, 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

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connection with its original issuance of such beneficial owner’s interest in such permanent
global Security. Except as permitted by Section 306, the Trustee shall not authenticate and deliver
any Bearer Security unless all appurtenant coupons for interest then matured have been detached and
canceled.

          If all the Securities of any series are not 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 Trustee for the issuance of such Securities and
determining the terms of particular Securities of such series, such as interest rate or formula,
maturity date, redemption or repayment provisions, currency of denomination and payment, 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
Trustee shall be entitled to receive, and (subject to TIA Section 315(a) through 315(d)) shall be
fully protected in relying upon,

(i) an Opinion of Counsel complying with Section 102 and stating that

	 	(a)	 	the form or forms of such Securities and any
coupons have been established in conformity with the provisions of this
Indenture;
	 
	 	(b)	 	the terms of such Securities and any coupons
have been established in conformity with the provisions of this
Indenture; and
	 
	 	(c)	 	such Securities, together with any coupons
appertaining thereto, when completed by appropriate insertions and
executed and delivered by the Company to the Trustee for authentication
in accordance with this Indenture, authenticated and delivered by the
Trustee in accordance with this Indenture and issued by the Company in
the manner and subject to any conditions specified in such Opinion of
Counsel, will constitute legal, valid and binding obligations of the
Company, enforceable in accordance with their terms, subject to
applicable bankruptcy, insolvency, reorganization and other similar
laws of general applicability relating to or affecting the enforcement
of creditors’ rights generally and to general equitable principles; and

(ii) an Officers’ Certificate stating that all conditions precedent provided for in
this Indenture relating to the issuance of the Securities have been complied with
and that, to the best of the knowledge of the signers of such certificate, that no
Event of Default with respect to any of the Securities shall have occurred and be
continuing.

          If such form or terms have been so established, the Trustee shall not be required to
authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect
the Trustee’s own rights, duties, obligations or immunities under the Securities and this Indenture
or otherwise in a manner which is not reasonably acceptable to the Trustee.

- 24 -

 

          Notwithstanding the provisions of Section 301 and of the second preceding paragraph, if all
the Securities of any series are not to be issued at one time, it shall not be necessary to deliver
an Officers’ Certificate otherwise required pursuant to Section 301 or a Company Order, or an
Opinion of Counsel or an Officers’ Certificate otherwise required pursuant to the second preceding
paragraph at the time of issuance of each Security of such series, but such order, opinion and
certificates, with appropriate modifications to cover such future issuances, shall be delivered at
or before the time of issuance of the first Security of such series.

          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 301.

          No Security or coupon shall be entitled to any benefit under this Indenture or be valid or
obligatory for any purpose unless there appears on such Security or Security to which such coupon
appertains a certificate of authentication substantially in the form provided for herein duly
executed by the Trustee by manual signature of an authorized signatory, and such certificate upon
any Security shall be conclusive evidence, and the only evidence, that such Security has been duly
authenticated and delivered hereunder and is entitled to the benefits of this Indenture.
Notwithstanding the foregoing, if any Security shall have been authenticated and delivered
hereunder but never issued and sold by the Company, and the Company shall deliver such Security to
the Trustee for cancellation as provided in Section 309 together with a written statement (which
need not comply with Section 102 and need not be accompanied by an Opinion of Counsel) stating that
such Security has never been issued and sold by the Company, for all purposes of this Indenture
such Security shall be deemed never to have been authenticated and delivered hereunder and shall
never be entitled to the benefits of this Indenture.

Section 304. Temporary Securities.

               (a) Pending the preparation of definitive Securities of any series, the Company may execute,
and upon Company Order, the Trustee shall authenticate and deliver, temporary Securities which are
printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu of which they are
issued, 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
officers executing such Securities may determine, as conclusively evidenced by their execution of
such Securities. In the case of Securities of any series, such temporary Securities may be in
global form.

          Except in the case of temporary Securities in global form (which shall be exchanged in
accordance with Section 304(b) or as otherwise provided in or pursuant to a Board Resolution), 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 non-matured coupons appertaining thereto), the Company shall

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execute and the 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; and provided further that a definitive Bearer Security shall be delivered in exchange for
a temporary Bearer Security only in compliance with the conditions set forth in Section 303. 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.

               (b) Unless otherwise provided in or pursuant to a Board Resolution, this Section 304(b) shall
govern the exchange of temporary Securities issued in global form other than through the facilities
of The Depository Trust Company. If any such temporary Security is issued in global form, then such
temporary global Security shall, unless otherwise provided therein, be delivered to the London
office of a depositary or common depositary (the “Common Depositary”), for the benefit of Euroclear
and Clearstream, 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 Trustee 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 Common Depositary to the
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 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 301, 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 Common Depositary, such temporary
global Security is accompanied by a certificate dated the Exchange Date or a subsequent date and
signed by Euroclear 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 and signed by
Clearstream as to the portion of such temporary global Security held for its account then to be
exchanged, 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 301; and 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 303.

          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 Euroclear or Clearstream, as the case may be, to request such exchange on his behalf and
delivers to Euroclear or Clearstream, as the case may be, a certificate in the form set forth in
Exhibit A-1 to this Indenture (or in such other form as may be established

- 26 -

 

pursuant to Section 301), dated no earlier than 15 days prior to the Exchange Date, copies of
which certificate shall be available from the offices of Euroclear and Clearstream, the Trustee,
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 unless
such Person takes delivery of such definitive Securities in person at the offices of Euroclear or
Clearstream. 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.

          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 301, 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 Euroclear and Clearstream on such Interest Payment Date upon
delivery by Euroclear and Clearstream to the Trustee of a certificate or certificates in the form
set forth in Exhibit A-2 to this Indenture (or in such other forms as may be established pursuant
to Section 301), for credit without further interest on or after such Interest Payment Date to the
respective accounts of Persons who are the beneficial owners of such temporary global Security on
such Interest Payment Date and who have each delivered to Euroclear or Clearstream, as the case may
be, 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 as Exhibit A-1 to this Indenture (or in such other
forms as may be established pursuant to Section 301). 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 304(b) and of the third
paragraph of Section 303 of this Indenture 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
or interest 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 Euroclear and Clearstream and not
paid as herein provided shall be returned to the Trustee prior to the expiration of two years after
such Interest Payment Date in order to be repaid to the Company.

Section 305. Registration, Registration of Transfer and Exchange.

          The Company shall cause to be kept at the Corporate Trust Office of the Trustee or in any
office or agency of the Company in a Place of Payment a register for each series of Securities (the
registers maintained in such office or in any such office or agency of the Company in a Place of
Payment being herein sometimes referred to collectively as the “Security Register”) in which,
subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of Registered Securities and of transfers of Registered Securities. The Security
Register shall be in written form or any other form capable of being

- 27 -

 

converted into written form within a reasonable time. The Trustee, at its Corporate Trust
Office, is hereby initially appointed “Security Registrar” for the purpose of registering
Registered Securities and transfers of Registered Securities on such Security Register as herein
provided. In the event that the Trustee shall cease to be Security Registrar, it shall have the
right to examine the Security Register at all reasonable times.

          Subject to the provisions of this Section 305, upon surrender for registration of transfer of
any Registered Security of any series at any office or agency of the Company in a Place of Payment
for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the
name of the designated transferee or transferees, one or more new Registered Securities of the same
series, of any authorized denominations and of a like aggregate principal amount, bearing a number
not contemporaneously outstanding, and containing identical terms and provisions.

          Subject to the provisions of this Section 305, 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 or denominations and of a like aggregate principal amount, containing
identical terms and provisions, upon surrender of the Registered Securities to be exchanged at any
such office or agency. Whenever any such Registered Securities are so surrendered for exchange, the
Company shall execute, and the 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 301, Bearer Securities may not be
issued in exchange for Registered Securities.

          If (but only if) permitted by the applicable Board Resolution and (subject to Section 303) set
forth in the applicable Officers’ Certificate, or in any indenture supplemental hereto, delivered
as contemplated by Section 301, at the option of the Holder, Bearer Securities of any series may be
exchanged for Registered Securities of the same series of any authorized denominations and of a
like aggregate principal amount and tenor, upon surrender of the Bearer Securities to be exchanged
at any such office or agency, 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 Trustee if there is furnished to them such security or
indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the
Holder of such 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 1002, 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

- 28 -

 

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. Whenever any Securities are so surrendered for
exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities
which the Holder making the exchange is entitled to receive.

          Notwithstanding the foregoing, except as otherwise specified as contemplated by Section 301,
any permanent global Security shall be exchangeable only as provided in this paragraph. If the
depositary for any permanent global Security is DTC, then, unless the terms of such global Security
expressly permit such global Security to be exchanged in whole or in part for definitive
Securities, a global Security may be transferred, in whole but not in part, only to a nominee of
DTC, or by a nominee of DTC to DTC, or to a successor to DTC for such global Security selected or
approved by the Company or to a nominee of such successor to DTC. If at any time DTC notifies the
Company that it is unwilling or unable to continue as depositary for the applicable global Security
or Securities or if at any time DTC ceases to be a clearing agency registered under the Exchange
Act if so required by applicable law or regulation, the Company shall appoint a successor
depositary with respect to such global Security or Securities. If (x) a successor depositary for
such global Security or Securities is not appointed by the Company within 90 days after the Company
receives such notice or becomes aware of such unwillingness, inability or ineligibility, (y) an
Event of Default has occurred and is continuing and the beneficial owners representing a majority
in principal amount of the applicable series of Securities represented by such global Security or
Securities advise DTC to cease acting as depositary for such global Security or Securities or (z)
the Company, in its sole discretion, determines at any time that all Outstanding Securities (but
not less than all) of any series issued or issuable in the form of one or more global Securities
shall no longer be represented by such global Security or Securities, then the Company shall
execute, and the Trustee shall authenticate and deliver definitive Securities of like series, rank,
tenor and terms in definitive form in an aggregate principal amount equal to the principal amount
of such global Security or Securities. If any beneficial owner of an interest in a permanent
global Security is otherwise entitled to exchange such interest for Securities of such series and
of like tenor and principal amount of another authorized form and denomination, as specified as
contemplated by Section 301 and provided that any applicable notice provided in the permanent
global Security shall have been given, 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 execute, and
the Trustee shall authenticate and deliver, definitive Securities in aggregate principal amount
equal to the principal amount of such beneficial owner’s interest in such permanent global
Security. On or after the earliest date on which such interests may be so exchanged, such permanent
global Security shall be surrendered for exchange by DTC or such other depositary as shall be
specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such
purpose; provided, however, that no such exchanges may occur during a period beginning at the
opening of business 15 days before any selection of Securities to be redeemed and ending on the
relevant Redemption Date if the Security for which exchange is requested may be among those
selected for redemption; and provided further that 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

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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 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.

          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 or redemption shall (if so required by the Company or the Security Registrar) 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.

          No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of
Securities, other than exchanges pursuant to Section 304, 906, 1107 or 1305 not involving any
transfer.

          The Company, the Trustee or the Security Registrar, as applicable, shall not be required (i)
to issue, register the transfer of or exchange any Security if such Security may be among those
selected for redemption during a period beginning at the opening of business 15 days before
selection of the Securities to be redeemed under Section 1103 and ending at the close of business
on (A) if such Securities are issuable only as Registered Securities, the day of the mailing of the
relevant notice of redemption and (B) if such Securities are issuable as Bearer Securities, the day
of the first publication of the relevant notice of redemption or, if such Securities 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 so selected
for redemption in whole or in part, except, in the case of any Registered Security to be redeemed
in part, the portion thereof not to be redeemed, 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 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.

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Section 306. Mutilated, Destroyed, Lost and Stolen Securities.

          If any mutilated Security or a Security with a mutilated coupon appertaining to it is
surrendered to the Trustee or the Company, together with, in appropriate cases, such security or
indemnity as may be required by the Company or the Trustee to hold each of them or any agent of
either of them harmless, the Company shall execute and the Trustee shall authenticate and deliver
in exchange therefor a new Security of the same series and principal amount, containing identical
terms and provisions and bearing a number not contemporaneously outstanding, with coupons
corresponding to the coupons, if any, appertaining to the surrendered Security.

          If there shall be delivered to the Company and to the Trustee (i) evidence to their
satisfaction of the destruction, loss or theft of any Security or coupon, and (ii) such security or
indemnity as may be required by them to hold each of them and any agent of either of them harmless,
then, in the absence of notice to the Company or the Trustee that such Security or coupon has been
acquired by a bona fide purchaser, the Company shall execute and upon the Company’s request the
Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security or
in exchange for the Security to which a destroyed, lost or stolen coupon appertains (with all
appurtenant coupons not destroyed, lost or stolen), a new Security of the same series and principal
amount, containing identical terms and provisions 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 immediately preceding 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 destroyed, lost or stolen Security or to
the Security to which such destroyed, lost or stolen coupon appertains, pay such Security or
coupon; provided, however, that payment of principal of (and premium or Make-Whole Amount, if any),
any interest on and any Additional Amounts with respect to, Bearer Securities shall, except as
otherwise provided in Section 1002, be payable only at an office or agency located outside the
United States and, unless otherwise specified as contemplated by Section 301, any interest on
Bearer Securities shall be payable only upon presentation and surrender of the coupons appertaining
thereto.

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

          Every new Security of any series with its coupons, if any, issued pursuant to this Section in
lieu of any destroyed, lost or stolen Security, or in exchange for a Security to which a destroyed,
lost or stolen coupon appertains, shall constitute an original additional contractual obligation of
the Company, whether or not the destroyed, lost or stolen Security and its coupons, if any, or the
destroyed, lost or stolen coupon shall be at any time enforceable by anyone, and

- 31 -

 

shall be entitled to all the benefits of this Indenture equally and proportionately with any
and all other Securities of that series and their coupons, if any, duly issued hereunder.

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

Section 307. Payment of Interest; Interest Rights Preserved.

          Except as otherwise specified with respect to a series of Securities in accordance with the
provisions of Section 301, interest on any Registered Security that is payable, and is punctually
paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest at the office or agency of the Company maintained for such
purpose pursuant to Section 1002; provided, however, that each installment of interest 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 308, to the
address of such Person as it appears on the Security Register or (ii) transfer to an account
maintained by the payee located inside the United States.

          Unless otherwise provided as contemplated by Section 301 with respect to the Securities of any
series, payment of interest may be made, in the case of a Bearer Security, by transfer to an
account maintained by the payee with a bank located outside the United States.

          Unless otherwise provided as contemplated by Section 301, every permanent global Security will
provide that interest, if any, payable on any Interest Payment Date will be paid to DTC, Euroclear
and/or Clearstream, as the case may be, with respect to that portion of such permanent global
Security held for its account by Cede & Co. or the Common Depositary, as the case may be, for the
purpose of permitting such party to credit the interest received by it in respect of such permanent
global Security to the accounts of the beneficial owners thereof.

          In case a Bearer Security of any series is surrendered in exchange for a Registered Security
of such series after the close of business (at an office or agency in a Place of Payment for such
series) on any Regular Record Date and before the opening of business (at such office or agency) on
the next succeeding Interest Payment Date, such Bearer Security shall be surrendered without the
coupon relating to such Interest Payment Date and interest will not be payable on such Interest
Payment Date 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.

          Except as otherwise specified with respect to a series of Securities in accordance with the
provisions of Section 301, any interest on any Registered Security of any series that is payable,
but is not punctually paid or duly provided for, on any Interest Payment Date (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the registered Holder thereof on the
relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may
be paid by the Company at its election in each case, as provided in clause (1) or (2) below:

- 32 -

 

	 	(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 Trustee 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 (which shall not be less than 20 days after such notice is
received by the Trustee), and at the same time the Company shall deposit with the
Trustee an amount of money in the currency or currencies in which the Securities of
such series are payable (except as otherwise specified pursuant to Section 301 for the
Securities of such series) equal to the aggregate amount proposed to be paid in respect
of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for
such deposit on or prior to the date of the proposed payment, such money when deposited
to be held in trust for the benefit of the Persons entitled to such Defaulted Interest
as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for
the payment of such Defaulted Interest which shall be not more than 15 days and not
less than 10 days prior to the date of the proposed payment and not less than 10 days
after the receipt by the Trustee of the notice of the proposed payment. The Trustee
shall promptly notify the Company of such Special Record Date and, in the name and at
the expense of the Company, shall cause notice of the proposed payment of such
Defaulted Interest and the Special Record Date therefor to be mailed, first-class
postage prepaid, to each Holder of Registered Securities of such series at his address
as it appears in the Security Register not less than 10 days prior to such Special
Record Date. The Trustee may, in its discretion, in the name and at the expense of the
Company, cause a similar notice to be published at least once in an Authorized
Newspaper in each Place of Payment, but such publications shall not be a condition
precedent to the establishment of such Special Record Date. Notice of the proposed
payment of such Defaulted Interest and the Special Record Date therefor having been
mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose
names 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). In case a Bearer
Security of any series is surrendered at the office or agency in a Place of Payment for
such series in exchange for a Registered Security of such series after the close of
business at such office or agency on 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
proposed date of payment and Defaulted Interest will not be payable on such proposed
date of payment 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.
	 
	 	(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,

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	 	 	 	and upon such notice as may be required by such exchange, if, after notice given by
the Company to the Trustee of the proposed payment pursuant to this clause, such
manner of payment shall be deemed practicable by the Trustee.

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

Section 308. Persons Deemed Owners.

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

          Title to any Bearer Security and any coupons appertaining thereto shall pass by delivery. The
Company, any Guarantor, the Trustee and any agent of the Company, any Guarantor, or the Trustee may
treat the Holder of any Bearer Security and the Holder 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 coupon be overdue, and none of the
Company, any Guarantor, the Trustee or any agent of the Company, any Guarantor, or the Trustee
shall be affected by notice to the contrary.

          None of the Company, the Trustee, any Paying Agent or the Security Registrar will have any
responsibility or liability for any aspect of the records relating to or payments made on account
of beneficial ownership interests of a 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, any Guarantor, the Trustee, or any agent of the Company, any Guarantor, or the
Trustee, 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.

Section 309. 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 sinking fund payment shall,
if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such
Securities and coupons and Securities and coupons surrendered directly to the Trustee for any such
purpose shall be promptly canceled by it. The Company may at any time

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deliver to the Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the
Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities
previously authenticated hereunder which the Company has not issued and sold, and all Securities so
delivered shall be promptly canceled by the Trustee. 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 the
Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any
Securities canceled as provided in this Section, except as expressly permitted by this Indenture.
Canceled Securities and coupons held by the Trustee shall be destroyed by the Trustee and the
Trustee shall deliver a certificate of such destruction to the Company, unless, by the Company
Order, the Company directs their return to it.

Section 310. Computation of Interest.

          Except as otherwise specified as contemplated by Section 301 with respect to Securities of any
series, interest on the Securities of each series shall be computed on the basis of a 360-day year
consisting of twelve 30-day months.

ARTICLE FOUR

SATISFACTION AND DISCHARGE

Section 401. 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 herein expressly provided for and
any right to receive Additional Amounts, as provided in Section 1012 and any right to convert or
exchange Securities in accordance with their terms), and the Trustee, upon receipt of a Company
Order, and 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 305, (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 306, (iii) coupons appertaining to Securities called for redemption and maturing after the
relevant Redemption Date, whose surrender has been waived as provided in Section 1106, and (iv)
Securities and coupons of such series for whose payment money has theretofore been deposited in
trust or segregated and held in trust by the Company and thereafter repaid to the Company or
discharged from such trust (as provided in Section 1003)) have been delivered to the Trustee for
cancellation; or

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               (B) all Securities of such series and, in the case of (i) or (ii) below, any coupons
appertaining thereto not theretofore delivered to the Trustee for cancellation

	 	(i)	 	have become due and payable, or
	 
	 	(ii)	 	will become due and payable at their Stated
Maturity within one year, or
	 
	 	(iii)	 	if redeemable at the option of the Company,
are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by
the Trustee in the name, and at the expense of the Company, and the
Company, in the case of (i), (ii) or (iii) above, has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in
trust for the purpose an amount in the currency or currencies in which
the Securities of such series are payable, sufficient to pay and
discharge the entire indebtedness on such Securities and such coupons
not theretofore delivered to the Trustee for cancellation, for
principal (and premium or Make-Whole Amount, if any) and interest, and
any Additional Amounts with respect thereto, 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

          (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for 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 Trustee and any predecessor Trustee under Section 606, the obligations of the
Company to any Authenticating Agent under Section 611 and, if money shall have been deposited with
and held by the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of
the Trustee under Section 402 and the last paragraph of Section 1003 shall survive.

Section 402. Application of Trust Funds.

          Subject to the provisions of the last paragraph of Section 1003, all money deposited with the
Trustee pursuant to Section 401 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 Trustee may
determine, to the Persons entitled thereto, of the principal (and premium or Make-Whole Amount, if
any), and any interest and Additional Amounts for whose payment such money has deposited with or
received by the Trustee, but such money need not be segregated from other funds except to the
extent required by law.

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ARTICLE FIVE

REMEDIES

Section 501. Events of Default.

          “Event of Default,” wherever used herein with respect to any particular series of Securities,
means any one of the following events with respect to such series of Securities (whatever the
reason for such Event of Default and whether or not it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of any court or any
order, rule or regulation of any administrative or governmental body):

          (1) default in the payment of any installment of interest upon or any Additional Amounts
payable in respect of any Security of that series or of any coupon appertaining thereto, when such
interest, Additional Amounts 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 of (or premium or Make-Whole Amount, if any, on)
any Security of that series when it becomes due and payable at its Maturity, upon redemption, upon
declaration or otherwise; or

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

          (4) default under any evidence of Recourse Indebtedness of the Company or a Guarantor (or of
any Subsidiary, the repayment of which the Company or Guarantor has guaranteed or for which the
Company or Guarantor is directly responsible or liable as obligor or guarantor), or any mortgage,
indenture or other instrument of the Company or a Guarantor (including a default with respect to
Securities of any series other than that series) under which there may be issued or by which there
may be secured any Recourse Indebtedness of the Company or Guarantor (or of any Subsidiary, the
repayment of which the Company or Guarantor has guaranteed or for which the Company or Guarantor is
directly responsible or liable as obligor or guarantor), whether such Recourse Indebtedness now
exists or shall hereafter be created, which default shall constitute a failure to pay an aggregate
principal amount exceeding $10,000,000 of such Recourse Indebtedness when due and payable after the
expiration of any applicable notice and grace periods with respect thereto and shall have resulted
in such Recourse Indebtedness in an aggregate principal amount exceeding $10,000,000 becoming or
being declared due and payable prior to the date on which it would otherwise have become due and
payable, without such Recourse Indebtedness having been discharged or such acceleration

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having been rescinded or annulled, within a period of 30 days after there shall have been
given, by registered or certified mail, to the Company and Guarantor by the Trustee or to the
Company, the Guarantor and the Trustee by the Holders of at least 25% in principal amount of the
Outstanding Securities of that series a written notice specifying such default and requiring the
Company or Guarantor to cause such Recourse Indebtedness to be discharged or cause such
acceleration to be rescinded or annulled and stating that such notice is a “Notice of Default”
hereunder; or

          (5) the Company, a Guarantor or any Significant Subsidiary pursuant to or within the meaning
of any Bankruptcy Law:

               (A) commences a voluntary case,

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

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

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

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

               (A) is for relief against the Company, a Guarantor or any Significant Subsidiary in an
involuntary case,

               (B) appoints a Custodian of the Company, a Guarantor or any Significant Subsidiary for all or
substantially all of its property, or

               (C) orders the liquidation of the Company, a Guarantor or any Significant Subsidiary, and the
order or decree remains unstayed and in effect for 90 days;

          (7) the Guarantee of any Security by a Guarantor ceases to be, or is asserted in writing by
the Company or such Guarantor not to be, in full force and effect or enforceable in accordance with
its terms (other than by reason of the termination of this Indenture or the release of such
Guarantee in accordance with this Indenture); or

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

          As used in this Section 501, the term “Bankruptcy Law” means Title 11, U.S. Code or any
similar Federal or State law for the relief of debtors and the term “Custodian” means any receiver,
trustee, assignee, liquidator or other similar official under any Bankruptcy Law.

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Section 502. Acceleration of Maturity; Rescission and Annulment.

          If an Event of Default with respect to Securities of any series at the time Outstanding occurs
and is continuing, then in every such case the Trustee or the Holders of not less than 25% in
principal amount of the Outstanding Securities of that series may declare the principal (or, if any
Securities are Original Issue Discount Securities or Indexed Securities, such portion of the
principal as may be specified in the terms thereof) of, and premium or Make-Whole Amount, if any,
on all the Securities of that series to be due and payable immediately, by a notice in writing to
the Company (and to the Trustee if given by the Holders), and upon any such declaration such
principal, and premium and Make-Whole Amount (if any), or specified portion thereof shall become
immediately due and payable. If an Event of Default with respect to the Securities of any series
set forth in Section 501(5) or (6) of this Indenture occurs and is continuing, then in every such
case all the Securities of that series shall become immediately due and payable, without notice to
the Company, at the principal amount thereof plus accrued interest to the date the Securities of
that series are paid plus any Make-Whole Amount due on the Securities of that series.

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

          (1) the Company has paid or deposited with the 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 301 for the Securities of such series):

               (A) all overdue installments of interest on and any Additional Amounts payable in respect of
all Outstanding Securities of that series and any related coupons,

               (B) the principal of (and premium or Make-Whole Amount, if any, on) any Outstanding Securities
of that series which have become due otherwise than by such declaration of acceleration and
interest thereon at the rate or rates borne by or provided for in such Securities,

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

               (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel; and

          (2) all Events of Default with respect to Securities of that series, other than the nonpayment
of the principal of (or premium or Make-Whole Amount, if any) or interest on Securities of that
series which have become due solely by such declaration of acceleration, have been cured or waived
as provided in Section 513.

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

Section 503. Collection of Indebtedness and Suits for Enforcement by Trustee.

          The Company covenants that if:

          (1) default is made in the payment of any installment of interest or Additional Amounts, if
any, on any Security of any series and any related coupon when such interest or Additional Amount
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 or Make-Whole Amount, if
any, on) any Security of any series at its Maturity upon redemption, upon dedication or otherwise,
then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the
Holders of such Securities of such series and coupons, the whole amount then due and payable on
such Securities and coupons for principal (and premium or Make-Whole Amount, if any) and interest
and Additional Amount, with interest upon any overdue principal (and premium or Make-Whole Amount,
if any) and, to the extent that payment of such interest shall be legally enforceable, upon any
overdue installments of interest or Additional Amounts, if any, at the rate or rates borne by or
provided for in such Securities, and, in addition thereto, such further amount as shall be
sufficient to cover the costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel.

          If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, may institute a judicial proceeding for the collection of
the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may
enforce the same against the Company, or any other obligor upon such Securities of such series 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 of such series, wherever
situated.

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

Section 504. Trustee May File Proofs of Claim.

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

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Guarantor or obligor for the payment of overdue principal, premium or Make-Whole Amount, 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, or such lesser amount as may be provided
for in the Securities of such series, of principal (and premium or Make-Whole Amount, if any) and
interest and Additional Amounts, if any, owing and unpaid in respect of the Securities and to file
such other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and

               (ii) to collect and receive any moneys or other property payable or deliverable on any such
claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator,
sequestrator (or other similar official) in any such judicial proceeding is hereby authorized by
each Holder of Securities of such series or coupons to make such payments to the Trustee, and in
the event that the Trustee shall consent to the making of such payments directly to the Holders, to
pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements
and advances of the Trustee and any predecessor Trustee, their agents and counsel, and any other
amounts due the Trustee or any predecessor Trustee under Section 606.

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

Section 505. Trustee May Enforce Claims Without Possession of Securities or Coupons.

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

Section 506. Application of Money Collected.

          Any money collected by the Trustee pursuant to this Article shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on
account of principal (or premium or Make-Whole Amount, if any) or interest and any Additional
Amounts, 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:

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          FIRST: To the payment of all amounts due the Trustee and any predecessor Trustee under Section
606;

          SECOND: To the payment of the amounts then due and unpaid upon the Securities and coupons for
principal (and premium or Make-Whole Amount, if any) and interest and any Additional Amounts
payable, 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 aggregate amounts due and payable on
such Securities and coupons for principal (and premium or Make-Whole Amount, if any), interest and
Additional Amounts, respectively; and

          THIRD: To the payment of the remainder, if any, to the Person or Persons entitled thereto.

Section 507. Limitation on Suits.

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

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

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

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

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

          (5) no direction inconsistent with such written request has been given to the Trustee during
such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities
of that series; it being understood and intended that no one or more of such Holders shall have any
right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to
affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to
obtain priority or preference over any other of such Holders or to enforce any right under this
Indenture, except in the manner herein provided and for the equal and ratable benefit of all such
Holders.

			
	Section 508.	 	Unconditional Right of Holders to Receive Principal, Premium or Make-Whole Amount, if
any, Interest and Additional Amounts.

          Notwithstanding any other provision in this Indenture, the Holder of any Security or coupon
shall have the right which is absolute and unconditional to receive payment of the principal of
(and premium or Make-Whole Amount, if any) and (subject to Sections 305 and

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307) interest on, and any Additional Amounts in respect of, such Security or payment of such
coupon on the respective due dates expressed in such Security or coupon (or, in the case of
redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment
or for the enforcement of any applicable conversion or exchange right in the Securities, and such
rights shall not be impaired without the consent of such Holder.

Section 509. Restoration of Rights and Remedies.

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

Section 510. 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 306, no right or
remedy herein conferred upon or reserved to the Trustee 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 prevent the concurrent
assertion or employment of any other appropriate right or remedy.

Section 511. Delay or Omission Not Waiver.

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

Section 512. Control by Holders of Securities.

          The Holders of not less than a majority in principal amount of the Outstanding Securities of
any series shall have the right to direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee
with respect to the Securities of such series, provided that

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

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

          (3) the Trustee need not take any action which might involve it in personal liability or be
unduly prejudicial to the Holders of Securities of such series not joining therein.

Section 513. Waiver of Past Defaults.

          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 and any related
coupons waive any past default hereunder with respect to such series and its consequences, except a
default

          (1) in the payment of the principal of (or premium or Make-Whole Amount, if any) or interest
on or Additional Amounts payable in respect of any Security of such series or any related coupons,
or

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

          (3) in the conversion or exchange of Securities in accordance with its terms.

          Upon any such waiver, such default shall cease to exist, any Event of Default arising
therefrom shall be deemed to have been cured, and for every purpose of this Indenture, the Company,
any Guarantor, Trustee and Holders shall be restored to their former positions and rights
hereunder; but no such waiver shall extend to any subsequent or other default or Event of Default
or impair any right consequent thereon.

Section 514. Waiver of Usury, Stay or Extension Laws.

          The Company and each Guarantor covenants (to the extent that it may lawfully do so) that it
will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit
or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in
force, which may affect the covenants or the performance of this Indenture; and each of the Company
and each Guarantor (to the extent that it may lawfully do so) hereby expressly waives all benefit
or advantage of any such law, and covenants that it will not hinder, delay or impede the execution
of any power herein granted to the Trustee, but will suffer and permit the execution of every such
power as though no such law had been enacted.

Section 515. Undertaking for Costs.

          All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken or omitted by it as Trustee, the filing by any party litigant in such suit of any
undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees, against any party litigant

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in such suit having due regard to the merits and good faith of the claims or defenses made by
such party litigant; but the provisions of this Section shall not apply to any suit instituted by
the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate
more than 10% in principal amount of the Outstanding Securities, or to any suit instituted by any
Holder for the enforcement of the payment of the principal of (or premium or Make-Whole Amount, if
any) or interest on any Security on or after the respective Stated Maturities expressed in such
Security (or, in the case of redemption, on or after the Redemption Date). The Company agrees to
pay or reimburse the Trustee for paying all reasonable costs and expenses (including reasonable
counsels’ fees) of the Trustee in connection with (a) any default and any enforcement or collection
proceedings resulting therefrom and (b) the enforcement of this Section 515.

ARTICLE SIX

THE TRUSTEE

Section 601. Notice of Defaults.

          Within 90 days after the occurrence of any default hereunder with respect to the Securities of
any series, the Trustee shall transmit in the manner and to the extent provided in TIA Section
313(c), notice of such default hereunder known to the Trustee, unless such default shall have been
cured or waived; provided, however, that, except in the case of a default in the payment of the
principal of (or premium or Make-Whole Amount, if any) or interest on or any Additional Amounts
with respect to any Security of such series, or in the payment of any sinking fund installment with
respect to the Securities of such series, the Trustee shall be protected in withholding such notice
if and so long as a committee of trust officers of the Trustee in good faith determine that the
withholding of such notice is in the interests of the Holders of the Securities and coupons of such
series; and provided further that in the case of any default or breach of the character specified
in Section 501(3) with respect to the Securities and coupons of such series, no such notice to
Holders shall be given until at least 60 days after the occurrence thereof. For the purpose of this
Section, the term “default” means any event which is, or after notice or lapse of time or both
would become, an Event of Default with respect to the Securities of such series.

Section 602. Certain Rights of Trustee.

          Subject to the provisions of TIA Section 315(a) through 315(d):

          (1) except during the continuance of an Event of Default, the Trustee shall perform only such
duties as are specifically set forth in this Indenture, and no implied covenants or obligations
shall be read into this Indenture against the Trustee;

          (2) in case a default or an Event of Default has occurred and is continuing of which a
Responsible Officer of the Trustee has received written notice from the Company, any other obligor
of the Securities or by any Holder, the Trustee shall exercise such of the rights and powers vested
in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent
Person would exercise or use under the circumstances in the conduct of his own affairs;

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

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

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

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

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

          (8) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein, upon certificates or
opinions furnished to the Trustee and conforming to the requirement of this Indenture;

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

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

               (a) this paragraph (10) shall not be construed to limit the effect of paragraph (1) of this
Section;

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               (b) the Trustee shall not be liable for any errors of judgment or any acts, omissions,
mistakes of fact or law taken or omitted in good faith by a Responsible Officer, unless it shall be
proved that the Trustee was negligent;

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

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

          (11) Whether nor not therein expressly so provided, every provision of this Indenture relating
to the conduct or affecting the liability of or affording protection to the Trustee shall be
subject to the provisions of this Section.

          The permissive right of the Trustee to do the things enumerated in this Indenture shall not be
construed as a duty, and the Trustee shall not be answerable for other than its negligence or
willful misconduct.

          Except during the continuance of an Event of Default, the Trustee undertakes to perform only
such duties as are specifically set forth in this Indenture, and no implied covenants or
obligations shall be read into this Indenture against the Trustee.

Section 603. Not Responsible for Recitals or Issuance of Securities.

          The recitals contained herein and in the Securities, except the Trustee’s certificate of
authentication, and in any coupons shall be taken as the statements of the Company or a Guarantor
and neither the Trustee nor any Authenticating Agent assumes any responsibility for their
correctness. The Trustee makes no representations as to the validity, legality or sufficiency of
this Indenture or of the Securities or coupons or any other contracts referred to herein to which
the Company or a Guarantor is a party, except that the Trustee represents that it is duly
authorized to execute and deliver this Indenture, authenticate the Securities and perform its
obligations hereunder. Neither the Trustee nor any Authenticating Agent shall be accountable for
the use or application by the Company of Securities or the proceeds thereof.

Section 604. May Hold Securities.

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

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Section 605. Money Held in Trust.

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

Section 606. Compensation and Reimbursement.

          The Company agrees:

          (1) to pay to the Trustee from time to time such compensation as the Company and the Trustee
have agreed upon in writing for all services rendered by it 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 each of the Trustee and any
predecessor or successor Trustee upon its request for all reasonable expenses, disbursements and
advances, if any, incurred or made by the Trustee in accordance with any provision of this
Indenture (including the reasonable compensation and the expenses and disbursements of its agents
and counsel), except any such expense, disbursement or advance as may be attributable to its
negligence or bad faith;

          (3) to indemnify each of the Trustee (which for purposes of this Section 606(3) shall include
its directors, officers, employees and agents) and any predecessor or successor Trustee for, and to
hold it harmless against, any loss, liability or expense incurred without negligence or bad faith
on its own part, arising out of or in connection with the acceptance or administration of the trust
or trusts hereunder, including the costs and expenses of defending itself against any claim or
liability in connection with the exercise or performance of any of its powers or duties hereunder;
and

          (4) to pay the reasonable fees and expenses of counsel for the Trustee in connection with the
preparation, execution and delivery of this Indenture, no later than five (5) business days of its
execution.

          When the Trustee incurs expenses or renders services in connection with an Event of Default
specified in Section 501(5) or Section 501(6), the expenses (including the reasonable charges and
expenses of its counsel) and the compensation for the services are intended to constitute expenses
of administration under any applicable Federal or state bankruptcy, insolvency or other similar
law.

          As security for the performance of the obligations of the Company under this Section, the
Trustee shall have a lien prior to the Holders of Securities upon all property and funds held or
collected by the Trustee as such, except funds held in trust for the payment of principal of (or
premium or Make-Whole Amount, if any) or interest on particular Securities or any coupons.

          Notwithstanding any provision in this Indenture, the Trustee’s right to immunities and
protection from liability hereunder and its rights to payment of its fees, expenses and

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indemnities shall survive its resignation or removal and the final payment or defeasance of
the Securities and the termination of the Indenture and all indemnification and releases from
liability granted herein shall extend to its directors, officers, employees and agents.

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

Section 607. Corporate Trustee Required; Eligibility; Conflicting Interests.

          There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee
under TIA Section 310(a)(1) and shall have a combined capital and surplus of at least $50,000,000.
If such corporation publishes reports of condition at least annually, pursuant to law or the
requirements of Federal, State, Territorial or District of Columbia supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of such
corporation shall be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in the manner and with
the effect hereinafter specified in this Article.

Section 608. Resignation and Removal; Appointment of Successor.

               (a) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee in accordance with the applicable requirements of Section 609.

               (b) The Trustee may resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company. If an instrument of acceptance by a successor Trustee
shall not have been delivered to the Trustee within 30 days after the giving of such notice of
resignation, the resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor Trustee. The Trustee’s rights to indemnity and reimbursement of
outstanding fees and expenses shall survive the Trustee’s resignation.

               (c) The Trustee may be removed at any time with respect to the Securities of any series by Act
of the Holders of a majority in principal amount of the Outstanding Securities of such series
delivered to the Trustee and the Company.

               (d) If at any time:

	 	(1)	 	the Trustee shall fail to comply with the
provisions of TIA Section 310(b) after written request therefor by the
Company or by any Holder of a Security who has been a bona fide Holder
of a Security for at least six months, or
	 
	 	(2)	 	the Trustee shall cease to be eligible under
Section 607 and shall fail to resign after written request therefor by
the Company or by any Holder of a Security who has been a bona fide
Holder of a Security for at least six months, or

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

          (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause with respect to the Securities of one or more
series, the Company, by or pursuant to a Board Resolution, shall promptly appoint a successor
Trustee or Trustees with respect to the Securities of that or those series (it being understood
that any such successor Trustee may be appointed with respect to the Securities of one or more or
all of such series and that at any time there shall be only one Trustee with respect to the
Securities of any particular series). 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 or 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 of Securities and accepted
appointment in the manner hereinafter provided, any Holder of a Security who has been a bona fide
Holder of a Security of such series for at least six months may, on behalf of himself and all
others similarly situated, petition any court of competent jurisdiction for the appointment of a
successor Trustee with respect to Securities of such series.

          (f) The Company shall give notice of each resignation and each removal of the Trustee with
respect to the Securities of any series and each appointment of a successor Trustee with respect to
the Securities of any series in the manner provided for notices to the Holders of Securities in
Section 106. Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office.

Section 609. Acceptance of Appointment by Successor.

          (a) In case of the appointment hereunder of a successor Trustee with respect to all
Securities, every such successor Trustee shall execute, acknowledge and deliver to the Company and
the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or
removal of the retiring Trustee shall become effective and such successor Trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee; but, on request of the Company or the successor Trustee,

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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, subject nevertheless to its claim, if any, provided for in
Section 606.

          (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities
of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee
with respect to the Securities of one or more series shall execute and deliver an indenture
supplemental hereto, pursuant to Article Nine hereof, 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.

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

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

Section 610. Merger, Conversion, Consolidation or Succession to Business.

          Any entity into which the Trustee may be merged or converted or with which it may be
consolidated, or any entity resulting from any merger, conversion or consolidation to which the
Trustee shall be a party, or any entity succeeding to all or substantially all of the corporate
trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
entity shall be otherwise qualified and eligible under this Article, without the execution or

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filing of any paper or any further act on the part of any of the parties hereto. In case any
Securities or coupons shall have been authenticated, but not delivered, by the Trustee then in
office, any successor by merger, conversion or consolidation to such authenticating Trustee may
adopt such authentication and deliver the Securities of coupons so authenticated with the same
effect as if such successor Trustee had itself authenticated such Securities or coupons. In case
any Securities or coupons shall not have been authenticated by such predecessor Trustee, any such
successor Trustee may authenticate and deliver such Securities or coupons, in either its own name
or that of its predecessor Trustee, with the full force and effect which this Indenture provides
for the certificate of authentication of the Trustee.

Section 611. Appointment of Authenticating Agent.

          At any time when any of the Securities remain Outstanding, the Trustee 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 Trustee to authenticate Securities of such series issued upon
exchange, registration of transfer or partial redemption or repayment thereof, except upon original
issuance or in replacement of mutilated, lost, stolen or destroyed Securities, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory
for all purposes as if authenticated by the Trustee hereunder. Any such appointment shall be
evidenced by an instrument in writing signed by a Responsible Officer of the Trustee, a copy of
which instrument shall be promptly furnished to the Company. Except upon original issuance or in
replacement of mutilated, lost, stolen or destroyed Securities, wherever reference is made in this
Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s
certificate of authentication, such reference shall be deemed to include authentication and
delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be
acceptable to the Company and shall at all times be a bank or trust company or corporation
organized and doing business and in good standing under the laws of the United States of America or
of any State or the District of Columbia, authorized under such laws to act as Authenticating
Agent, having a combined capital and surplus of not less than $50,000,000 and subject to
supervision or examination by Federal or State authorities. If such Authenticating Agent publishes
reports of condition at least annually, pursuant to law or the requirements of the aforesaid
supervising or examining authority, then for the purposes of this Section, the combined capital and
surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set
forth in its most recent report of condition so published. In case at any time an Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, such
Authenticating Agent shall resign immediately in the manner and with the effect specified in this
Section.

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

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          An Authenticating Agent for any series of Securities may at any time resign by giving written
notice of resignation to the Trustee for such series and to the Company. The Trustee for any series
of Securities may at any time terminate the agency of an Authenticating Agent by giving written
notice of termination to such Authenticating Agent and the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such Authenticating Agent shall
cease to be eligible in accordance with the provisions of this Section, the Trustee for such series
may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall
give notice of such appointment to all Holders of Securities of the series with respect to which
such Authenticating Agent will serve in the manner set forth in Section 106. 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 herein. No successor Authenticating Agent shall be appointed unless
eligible under the provisions of this Section.

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

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

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

	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION, as
	 	 	Trustee
	 
	 	 	 	 
	 

	 	By:
	 	                                                            ,
	 

	 	 	 	as Authenticating Agent
	 
	 	 	 	 
	 

	 	By:
	 	                                                            ,
	 

	 	 	 	Authorized Signatory

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ARTICLE SEVEN

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

Section 701. 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 Trustee that neither the Company nor the Trustee nor any Authenticating Agent nor
any Paying Agent nor any Security Registrar shall be held accountable by reason of the disclosure
of any information as to the names and addresses of the Holders of Securities in accordance with
TIA Section 312, regardless of the source from which such information was derived, and that the
Trustee shall not be held accountable by reason of mailing any material pursuant to a request made
under TIA Section 312(b).

Section 702. Reports by Trustee.

          Within 60 days after March 15 of each year commencing with the first June 30 after the first
issuance of Securities pursuant to this Indenture, the Trustee shall transmit by mail to all
Holders of Securities as provided in TIA Section 313(c) a brief report dated as of such May 15 if
required by TIA Section 313(a).

Section 703. Reports by Company and Guarantors.

     The Company and each Guarantor will:

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

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

          (3) transmit by mail to the Holders of Securities, within 30 days after the filing thereof
with the Trustee, in the manner and to the extent provided in TIA Section 313(c), such summaries of
any information, documents and reports required to be filed by it pursuant to

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paragraphs (1) and (2) of this Section as may be required by rules and regulations prescribed
from time to time by the Commission.

Section 704. The Company to Furnish Trustee Names and Addresses of Holders.

          The Company will furnish or cause to be furnished to the Trustee:

               (a) semi-annually, not later than 15 days after the Regular Record Date for interest for each
series of Securities, a list, in such form as the Trustee may reasonably require, of the names and
addresses of the Holders of Registered Securities of such series as of such Regular Record Date, or
if there is no Regular Record Date for interest for such series of Securities, semi-annually, upon
such dates as are set forth in the Board Resolution or indenture supplemental hereto authorizing
such series, and

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

ARTICLE EIGHT

CONSOLIDATION, MERGER, SALE, LEASE OR CONVEYANCE

			
	Section 801.	 	Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted
Subject to Certain Conditions.

          The Company may consolidate with, or sell, lease or convey all or substantially all of its
assets to, or merge with or into any other entity, provided that in any such case, (1) the Company
shall be the continuing entity, or the successor entity shall be an entity organized and existing
under the laws of the United States or a State thereof and such successor entity shall expressly
assume the due and punctual performance and observance of all of the obligations, covenants and
conditions of this Indenture to be performed by the Company by supplemental indenture, complying
with Article Nine hereof, satisfactory to the Trustee, executed and delivered to the Trustee by
such entity and (2) immediately after giving effect to such transaction, no Event of
Default, and no event which, after notice or the lapse of time, or both, would become an Event of
Default, shall have occurred and be continuing.

Section 802. Rights and Duties of Successor Entity.

          In case of any consolidation, merger, sale, lease or conveyance permitted under Section 801
and upon any assumption by the successor entity, such successor entity shall succeed to and be
substituted for the Company with the same effect as if it had been named herein as the Company and
the predecessor entity, except in the event of a lease, shall be relieved of any further obligation
under this Indenture and the Securities. Any such successor entity of the Company thereupon may
cause to be signed, and may issue either in its own name or in the name of the Company, any or all
of the Securities issuable hereunder which theretofore shall not have

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been signed by the Company and delivered to the Trustee; and, upon the order of such successor
entity, instead of the Company, and subject to all the terms, conditions and limitations in this
Indenture prescribed, the Trustee shall authenticate and shall deliver any Securities which
previously shall have been signed and delivered by the officers of the Company to the Trustee for
authentication, and any Securities which such successor entity thereafter shall cause to be signed
and delivered to the Trustee for that purpose. All the Securities so issued shall in all respects
have the same legal rank and benefit under this Indenture as the Securities theretofore or
thereafter issued in accordance with the terms of this Indenture as though all of such Securities
had been issued at the date of the execution hereof.

          In case of any such consolidation, merger, sale, lease or conveyance, such changes in
phraseology and form (but not in substance) may be made in the Securities thereafter to be issued
as may be appropriate.

Section 803. Officers’ Certificate and Opinion of Counsel.

          Any consolidation, merger, sale, lease or conveyance permitted under Section 801 is also
subject to the condition that the Trustee receive from the Company with respect to Section 801 an
Officers’ Certificate and an Opinion of Counsel to the effect that any such consolidation, merger,
sale, lease or conveyance, and the assumption by any successor entity, complies with the provisions
of this Article and that all conditions precedent herein provided for relating to such transaction
have been complied with.

ARTICLE NINE

SUPPLEMENTAL INDENTURES

Section 901. Supplemental Indentures without Consent of Holders.

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

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

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

          (3) to add any additional Events of Default for the benefit of the Holders of all or any
series of Securities (and if such Events of Default are to be for the benefit of less than all
series of Securities, stating that such Events of Default are expressly being included solely for
the benefit of such series); provided, however, that in respect of any such additional Events of
Default such supplemental indenture may provide for a particular period of grace after default

- 56 -

 

(which period may be shorter or longer than that allowed in the case of other defaults) or may
provide for an immediate enforcement upon such default or may limit the remedies available to the
Trustee upon such default or may limit the right of the Holders of a majority in aggregate
principal amount of that or those series of Securities to which such additional Events of Default
apply to waive such default; or

          (4) 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

          (5) to change or eliminate any of the provisions of this Indenture, provided that any such
change or elimination shall become effective only when there is no Security Outstanding of any
series created prior to the execution of such supplemental indenture which is entitled to the
benefit of such provision; or

          (6) to secure the Securities; or

          (7) to establish the form or terms of Securities of any series and any related coupons as
permitted by Sections 201 and 301; 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; or

          (9) to cure any ambiguity, to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein; or

          (10) to make any other provisions with respect to matters or questions arising under this
Indenture which shall not be inconsistent with the provisions of this Indenture, provided such
provisions shall not adversely affect the interests of the Holders of Securities of any series or
any related coupons in any material respect; or

          (11) to add a Guarantor; or

          (12) 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 401, 1402 and 1403; 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.

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Section 902. Supplemental Indentures with Consent of Holders.

          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 Trustee, the Company, when authorized by or pursuant to a Board Resolution and
by the Guarantors, and the Trustee may enter into an indenture or indentures supplemental hereto
for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities
and any related coupons under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security affected thereby:

          (1) change the Stated Maturity of the principal of (or premium or Make-Whole Amount, if any,
on) or any installment of principal of or interest on or any Additional Amounts payable in respect
thereof, any Security; or reduce the principal amount thereof or the rate or amount of interest
thereon, or any premium payable upon the redemption thereof, or change any obligation of the
Company to pay Additional Amounts pursuant to Section 1012 (except as contemplated by Section
801(1) and permitted by Section 901(1)), or reduce the amount of the principal of an Original Issue
Discount Security or Make-Whole Amount that would be due and payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 502 or the amount thereof provable in
bankruptcy pursuant to Section 504, or adversely affect any right of repayment at the option of the
Holder of any Security, or change any Place of Payment where, or the currency or currencies in
which, any Security or any premium or Make-Whole Amount or the interest thereon is payable, or
impair the right to institute suit for the enforcement of any such payment on or after the Stated
Maturity thereof, (or, in the case of redemption or repayment at the option of the Holder, on or
after the Redemption Date or the Repayment Date, as the case may be) or for the enforcement of any
applicable conversion or exchange right in any Security, or

          (2) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose Holders is required for any such supplemental indenture, or the consent of whose
Holders is required for any waiver with respect to such series (or compliance with certain
provisions of this Indenture or certain defaults hereunder and their consequences) provided for in
this Indenture, or reduce the requirements of Section 1504 for quorum or voting, or

          (3) modify any of the provisions of this Section, Section 513 or Section 1013, except to
increase the required percentage to effect such action or to provide that certain other provisions
of this Indenture cannot be modified or waived without the consent of the Holder of each
Outstanding Security affected thereby, or

          (4) release
a Guarantor from its Guarantee otherwise than in accordance with the
terms of this Indenture.

          It shall not be necessary for any Act of Holders under this Section to approve the particular
form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve
the substance thereof.

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          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.

Section 903. Execution of Supplemental Indentures.

          In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modification thereby of the trusts created by this Indenture, the
Trustee 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. The Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.

Section 904. Effect of Supplemental Indentures.

          Upon the execution and delivery of any supplemental indenture under this Article, this
Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a
part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter
authenticated and delivered hereunder and of any coupon appertaining thereto shall be bound
thereby.

Section 905. Conformity with TIA.

          Every supplemental indenture executed pursuant to this Article shall conform to the
requirements of the TIA as then in effect.

Section 906. Reference in Securities to Supplemental Indentures.

          Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall, if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities of any series so modified as to conform, in the opinion
of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by
the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities
of such series.

Section 907. Notice of Supplemental Indentures.

          Promptly after the execution by the Company and the Trustee of any supplemental indenture
pursuant to the provisions of Section 902, the Company shall give notice thereof to the Holders of
each Outstanding Security affected, in the manner provided for in Section 106, setting forth in
general terms the substance of such supplemental indenture.

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ARTICLE TEN

COVENANTS

Section 1001. Payment of Principal, Premium (if any), Make-Whole Amount (if any), Interest and
Additional Amounts.

          The Company covenants and agrees for the benefit of the Holders of each series of Securities
that it will duly and punctually pay the principal of (and premium or Make-Whole Amount, if any)
and interest on and any Additional Amounts payable in respect of the Securities of that series in
accordance with the terms of such series of Securities, any coupons appertaining thereto and this
Indenture. Unless otherwise specified as contemplated by Section 301 with respect to any series of
Securities, any interest due on and any Additional Amounts payable in respect of Bearer Securities
on or before Maturity, other than Additional Amounts, if any, payable as provided in Section 1012
in respect of principal of (or premium or Make-Whole Amount, if any, on) such a Security, shall be
payable only upon presentation and surrender of the several coupons for such interest installments
as are evidenced thereby as they severally mature. Unless otherwise specified with respect to
Securities of any series pursuant to Section 301, at the option of the Company, all payments of
principal may be paid by check to the registered Holder of the Registered Security or other person
entitled thereto against surrender of such Security.

Section 1002. Maintenance of Office or Agency.

          If Securities of a series are issuable only as Registered Securities, the Company shall
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 or conversion, where Securities of that
series may be surrendered for registration of transfer or exchange and where notices and demands to
or upon the Company in respect of the Securities of that series and this Indenture may be served.
If Securities of a series are issuable as Bearer Securities, the Company will maintain: (A) in the
Borough of Manhattan, The City of New York, an office or agency where any Registered Securities of
that series may be presented or surrendered for payment or conversion, 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 notices and demands to or upon the Company in respect
of the Securities of that series and this Indenture may be served and where Bearer Securities of
that series and related coupons may be presented or surrendered for payment or conversion in the
circumstances described in the following paragraph (and not otherwise); (B) 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 (including payment of any Additional Amounts payable on
Securities of that series pursuant to Section 1012) or conversion; provided, however, that if the
Securities of that series are listed on the Luxembourg Stock Exchange or any other stock exchange
located outside the United States and such stock exchange shall so require, the Company will
maintain a Paying Agent for the Securities of that series in Luxembourg or any other required city
located outside the United States, as the case may be, so long as the Securities of that series are
listed on such exchange; and (C) 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

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Securities of that series may be surrendered for registration of transfer, where Securities of
that series may be surrendered for exchange and where notices and demands to or upon the Company in
respect of the Securities of that series and this Indenture may be served. The Company will give
prompt written notice to the Trustee of the location, and any change in the location, of each such
office or agency. If at any time the Company shall fail to maintain any such required office or
agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee,
except that Bearer Securities of that series and the related coupons may be presented and
surrendered for payment (including payment of any Additional Amounts payable on Bearer Securities
of that series pursuant to Section 1012) or conversion at the offices specified in the Security, in
London, England, and the Company hereby appoint the same as its agent to receive such respective
presentations, surrenders, notices and demands, and the Company hereby appoint the Trustee its
agent to receive all such presentations, surrenders, notices and demands.

          Unless otherwise specified with respect to any Securities pursuant to Section 301, no payment
of principal, premium or interest on or Additional Amounts in respect of 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 and any premium and interest on any Bearer Security (including any Additional Amounts
payable on Securities of such series pursuant to Section 1012) shall be made at the office of the
Company’s Paying Agent in the Borough of Manhattan, The City of New York, if (but only if) payment
in Dollars of the full amount of such principal, premium, or Make-Whole Amount, interest or
Additional Amounts, as the case may be, at all offices or agencies outside the United States
maintained for the purpose by the Company in accordance with this Indenture, is illegal or
effectively precluded by exchange controls or other similar restrictions.

          The Company may 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 of such purposes,
and may from time to time rescind such designations; provided, however, that no such designation or
rescission shall in any manner relieve the Company of its obligation to maintain an office or
agency in accordance with the requirements set forth above for Securities of any series for such
purposes. The Company will give prompt written notice to the Trustee of any such designation or
rescission and of any change in the location of any such other office or agency. Unless otherwise
specified with respect to any Securities pursuant to Section 301 with respect to a series of
Securities, the Company hereby designates as a Place of Payment for each series of Securities the
office or agency of the Company in the Borough of Manhattan, The City of New York, and initially
appoints the Trustee as Paying Agent at its office in such city and as its agent to receive all
such presentations, surrenders, notices and demands.

          Unless otherwise specified with respect to any Securities pursuant to Section 301, if and so
long as the Securities of any series (i) are denominated in a Foreign Currency or (ii) may be
payable in a Foreign Currency, or so long as it is required under any other provision of 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.

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Section 1003. 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 any
Securities and any related coupons, it will, on or before each due date of the principal of (and
premium or Make-Whole Amount, if any), or interest on or Additional Amounts in respect of, 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 or currencies in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 301 for the Securities of such series)
sufficient to pay the principal (and premium or Make-Whole Amount, if any) or interest or
Additional Amounts so becoming due until such sums shall be paid to such Persons or otherwise
disposed of as herein provided, and will promptly notify the Trustee of its 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, on or before each due date of the principal of (and premium or Make-Whole
Amount, if any), or interest on or Additional Amounts in respect of, any Securities of that series,
deposit with a Paying Agent a sum (in the currency or currencies described in the preceding
paragraph) sufficient to pay the principal (and premium or Make-Whole Amount, if any) or interest
or Additional Amounts, so becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such principal, premium or interest or Additional Amounts and (unless such Paying Agent
is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

          The Company will cause each Paying Agent other than the Trustee to execute and deliver to the
Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the
provisions of this Section, that such Paying Agent will

          (1) hold all sums held by it for the payment of principal of (or premium or Make-Whole Amount,
if any) or interest on Securities in trust for the benefit of the Persons entitled thereto until
such sums shall be paid to such Persons or otherwise disposed of as herein provided;

          (2) give the Trustee notice of any default by the Company or a Guarantor (or any other obligor
upon the Securities) in the making of any such payment of principal (and premium or Make-Whole
Amount, if any) or interest; and

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

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

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          Except as otherwise provided in the Securities of any series, any money deposited with the
Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal
of (and premium or Make-Whole Amount, if any) or interest on or Additional Amounts in respect of,
any Security of any series and remaining unclaimed for two years after such principal (or premium
or Make-Whole Amount, if any) or interest or Additional Amounts has become due and payable shall be
paid to the Company upon Company Request or (if then held by the Company) shall be discharged from
such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor,
look only to the Company and any Guarantor for payment of such principal of (and premium or
Make-Whole Amount, if any) or interest on or Additional Amounts in respect of, any Security,
without interest thereon, and all liability of the Trustee or such Paying Agent with respect to
such trust money, and all liability of the Company as trustee thereof, shall thereupon cease;
provided, however, that the Trustee or such Paying Agent, before being required to make any such
repayment, may at the expense of the Company cause to be published once, in an Authorized
Newspaper, 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 1004. [Omitted]

Section 1005. [Omitted].

Section 1006. 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 the existence, rights (charter and statutory) and
franchises of itself and of each Guarantor; provided, however, that the Company and the Guarantors
shall not be required to preserve any right or franchise if its Board of Directors shall determine
that the preservation thereof is no longer desirable in the conduct of the business and that the
loss thereof is not disadvantageous in any material respect to the Holders.

Section 1007. Maintenance of Properties.

          The Company will cause all of its material properties used or useful in the conduct of its
business or the business of any Subsidiary to be maintained and kept in good condition, repair and
working order and supplied with all necessary equipment and will cause to be made all necessary
repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of
the Company may be necessary so that the business carried on in connection therewith may be
properly and advantageously conducted at all times; provided, however, that the Company and its
Subsidiaries shall not be prevented from discontinuing the operation and maintenance of any such
properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of
its business and not disadvantageous in any material respect to the Holders.

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Section 1008. Insurance.

          The Company will, and will cause each of its Subsidiaries to, keep all of its insurable
properties insured against loss or damage in amounts and types as are commercially reasonable.

Section 1009. 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 it or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary,
and (2) all material lawful claims for labor, materials and supplies which, if unpaid, might by law
become a lien upon the property of the Company or any Subsidiary unless such lien would not have a
material adverse effect upon such property; 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 or for which the Company has set apart and maintains an adequate reserve.

Section 1010. Provision of Financial Information.

          If the Company or a Guarantor is required to file annual and quarterly reports and other
documents with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, the Company or
such Guarantor will (i) file such reports and documents with the Commission on or prior to the
respective dates by which the Company or such Guarantor is required
to file such documents, and (ii)
within 15 days after being required to file the same with the Commission, deliver such reports and
documents with the Trustee.

          If the Company or a Guarantor is not required to file annual and quarterly reports and other
documents with the Commission pursuant to either of such provisions, the Company or such Guarantor
will, within 15 days of the date by which the Company would have been required to file the same
with the Commission if it were so required, deliver to the Trustee a document containing
substantially the same kind of information as the Company would have been required to include in
each annual and quarterly report filed with the Commission if it were
so required. Notwithstanding the foregoing, if the Company or a Guarantor is not required to file
annual or quarterly reports and other documents with the Commission because information about the
Company or the Guarantor is contained in the annual and quarterly reports and other documents filed
by another entity with the Commission, the delivery to the Trustee of the annual and quarterly
reports and other documents filed by such entity with the Commission within the
time periods set forth in the preceding

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sentence shall be deemed to satisfy the obligations of the Company or the Guarantor to provide
financial information under this Section 1010.

Section 1011. Statement as to Compliance.

          The Company and each Guarantor will deliver to the Trustee, within 120 days after the end of
each fiscal year, a brief certificate from the principal executive officer, principal financial
officer or principal accounting officer of the Company as to his or her knowledge of such entity’s
compliance with all conditions and covenants under this Indenture and, in the event of any
noncompliance, specifying such noncompliance and the nature and status thereof. For purposes of
this Section 1011, such compliance shall be determined without regard to any period of grace or
requirement of notice under this Indenture.

Section 1012. Additional Amounts.

          If any Securities of a series provide for the payment of Additional Amounts, the Company will
pay to the Holder of any Security of such series or any coupon appertaining thereto Additional
Amounts as may be specified in this Indenture. Whenever in this Indenture there is mentioned, in
any context except in the case of Section 502(1), the payment of the principal of or any premium or
interest on, or in respect of, any Security of any series or payment of any related coupon or the
net proceeds received on the sale or exchange of any Security of any series, such mention shall be
deemed to include mention of the payment of Additional Amounts provided by the terms of such series
established pursuant to this Indenture to the extent that, in such context, Additional Amounts are,
were or would be payable in respect thereof pursuant to such terms and express mention of the
payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as
excluding Additional Amounts in those provisions hereof where such express mention is not made.

          Except as otherwise specified as contemplated by Section 301, if the Securities of a series
provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment
Date with respect to that series of Securities (or if the Securities of that series will not bear
interest prior to Maturity, the first day on which a payment of principal and any premium is made),
and at least 10 days prior to each date of payment of principal and any premium or interest if
there has been any change with respect to the matters set forth in the below-mentioned Officers’
Certificate, the Company will furnish the Trustee and the Company’s principal Paying Agent or
Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and
such Paying Agent or Paying Agents whether such payment of principal of and any premium or interest
on the Securities of that series shall be made to Holders of Securities of that series or any
related coupons who are not United States persons without withholding for or on account of any tax,
assessment or other governmental charge described in the Securities of the series. If any such
withholding shall be required, then such Officers’ Certificate shall specify by country the amount,
if any, required to be withheld on such payments to such Holders of Securities of that series or
related coupons and the Company will pay to the Trustee or such Paying Agent the Additional Amounts
required by the terms of such Securities. If the Trustee or any Paying Agent, as the case may be,
shall not so receive the above-mentioned certificate, then the Trustee or such Paying Agent shall
be entitled (i) to assume that no such withholding or deduction is required with respect to any
payment of principal or interest with respect to any

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Securities of a series or related coupons until it shall have received a certificate advising
otherwise and (ii) to make all payments of principal and interest with respect to the Securities of
a series or related coupons without withholding or deductions until otherwise advised. The Company
covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any
loss, liability or expense reasonably incurred without negligence or bad faith on their part
arising out of or in connection with actions taken or omitted by any them or in reliance on any
Officers’ Certificate furnished pursuant to this Section or in reliance on the Company’s not
furnishing such an Officers’ Certificate.

Section 1013. Waiver of Certain Covenants.

          The Company may omit in any particular instance to comply with any term, provision or
condition set forth in Sections 1004 to 1010, inclusive, if before or after the time for such
compliance the Holders of at least a majority in principal amount of all outstanding Securities of
such series, by Act of such Holders, either waive such compliance in such instance or generally
waive compliance with such covenant or condition, but no such waiver shall extend to or affect such
covenant or condition except to the extent so expressly waived, and, until such waiver shall become
effective, the obligations of the Company and the duties of the Trustee in respect of any such
term, provision or condition shall remain in full force and effect.

ARTICLE ELEVEN

REDEMPTION OF SECURITIES

Section 1101. Applicability of Article.

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

Section 1102. Election to Redeem; Notice to Trustee.

          The election of the Company to redeem any Securities shall be evidenced by or pursuant to a
Board Resolution. In case of any redemption at the election of the Company of less than all of the
Securities of any series, the Company shall, at least 90 days prior to the Redemption Date (unless
a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date
and of the principal amount of Securities of such series to be redeemed. 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 the Trustee
with an Officers’ Certificate evidencing compliance with such restriction.

Section 1103. Selection by Trustee of Securities to Be Redeemed.

          If less than all the Securities of any series issued on the same day with the same terms are
to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days
prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series issued
on such date with the same terms not previously called for redemption, by

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

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

          For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any 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 1104. Notice of Redemption.

          Notice of redemption shall be given in the manner provided in Section 106, not less than 30
days nor more than 60 days prior to the Redemption Date, unless a shorter period is specified by
the terms of such series established pursuant to Section 301, to each Holder of Securities to be
redeemed, but failure to give such notice in the manner herein provided to the Holder of any
Security 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 such
Security or portion thereof.

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

          All notices of redemption shall state:

          (1) the Redemption Date,

          (2) the Redemption Price, accrued interest to the Redemption Date payable as provided in
Section 1106, if any, and Additional Amounts, if any,

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

          (4) in case any Security is to be redeemed in part only, the notice which relates to such
Security shall state that on and after the Redemption Date, upon surrender of such Security, the
holder will receive, without a 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 to the Redemption
Date payable as provided in Section 1106, if any, will become due and payable

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upon each such Security, or the portion thereof, to be redeemed and, if applicable, that
interest thereon shall cease to accrue on and after said date,

          (6) the Place or Places 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, or for
conversion,

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

          (8) 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 this Redemption Date pursuant to Section 305 or otherwise,
the last date, as determined by the Company, on which such exchanges may be made,

          (9) the CUSIP number of such Security, if any, and

          (10) if applicable, that a Holder of Securities who desires to convert Securities for
redemption must satisfy the requirements for conversion contained in such Securities, the then
existing conversion price or rate, and the date and time when the option to convert shall expire.

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

Section 1105. Deposit of Redemption Price.

          At least one Business Day prior to any Redemption Date, the Company shall deposit with the
Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and
hold in trust as provided in Section 1003) an amount of money in the currency or currencies in
which the Securities of such series are payable (except as otherwise specified pursuant to Section
301 for the Securities of such series) sufficient to pay on the Redemption Date the Redemption
Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest
on, all the Securities or portions thereof which are to be redeemed on that date.

Section 1106. 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 or currencies in which the Securities of such series are payable (except as otherwise
specified pursuant to Section 301 for the Securities of such series) (together with accrued
interest, if any, to the Redemption Date), and from and after such date (unless the

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Company shall default in the payment of the Redemption Price and accrued interest) 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 1002) and, unless otherwise specified as contemplated by Section 301, only upon
presentation and surrender of coupons for such interest; and provided further that, except as
otherwise specified in or pursuant to this Indenture or Registered Securities of a series,
installments of interest on Registered Securities whose Stated Maturity is on or prior to the
Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business on the relevant Record Dates according to
their terms and the provisions of Section 307.

          If any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant
coupons maturing after the Redemption Date, such Security may be paid after deducting from the
Redemption Price an amount equal to the face amount of all such missing coupons, or the surrender
of such missing coupon or coupons may be waived by the Company and the Trustee if there be
furnished to them such security or indemnity as they may require to save each of them and any
Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the Trustee or
any Paying Agent any such missing coupon in respect of which a deduction shall have been made from
the Redemption Price, such Holder shall be entitled to receive the amount so deducted; provided,
however, that interest represented by coupons shall be payable only at an office or agency located
outside the United States (except as otherwise provided in Section 1002) and, unless otherwise
specified as contemplated by Section 301, 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 or Make-Whole Amount, if any) shall, until paid, bear
interest from the Redemption Date at the rate borne by the Security.

Section 1107. Securities Redeemed in Part.

          Any Registered Security which is to be redeemed only in part (pursuant to the provisions of
this Article) shall be surrendered at a Place of Payment therefor (with, if the Company or the
Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory
to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized
in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the
Holder of such Security without service charge a new 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.

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ARTICLE TWELVE

GUARANTEES

Section 1201. Applicability of Article.

          If applicable, the guarantee of any series of securities shall be established in accordance
with Section 301 and in accordance with this Article.

Section 1202. Guarantees.

                 Subject to the provisions of this Article Twelve, each Guarantor hereby jointly and severally,
fully, unconditionally and irrevocably guarantees to each Holder and to the Trustee on behalf of
the Holders: (i) the due and punctual payment of the principal of, premium, if any, and accrued
interest on each Security, when and as the same shall become due and payable, whether at maturity,
by acceleration or otherwise, and the due and punctual payment of interest on the overdue principal
of and interest, if any, on the Securities, to the extent lawful, and (ii) in the case of any
extension of time of payment or renewal of any Securities or any of such other obligations, that
the same will be promptly paid in full when due in accordance with the terms of the extension or
renewal, at Stated Maturity, by acceleration or otherwise (the obligations in subsections (i) and
(ii) hereof being the “Guaranteed Obligations”). Each Guarantor hereby waives to the extent it may
legally do so diligence, presentment, demand of payment, filing of claims with a court in the event
of merger or bankruptcy of the Company, any right to require a proceeding first against the
Company, the benefit of discussion, protest or notice with respect to any such Security or the debt
evidenced thereby and all demands whatsoever, and covenants that its Guarantee will not be
discharged as to any such Security except by payment in full of the principal thereof and interest
thereon and as provided in Section 401, Section 1402 and Section 1403. The maturity of the
Securities may be accelerated as provided in Article Five for the purposes of this Article Twelve.
In the event of any declaration of acceleration of such obligations as provided in Article Five,
the Securities (whether or not due and payable) shall forthwith become due and payable by each
Guarantor jointly and severally, for the purpose of this Article Twelve. In addition, without
limiting the foregoing provisions, upon the effectiveness of an acceleration under Article Five,
the Trustee shall promptly make a demand for payment on the Securities under each Guarantee
provided for in this Article Twelve.

                 If the Trustee or the Holder of any Security is required by any court or otherwise to return
to the Company or any Guarantor, or any custodian, receiver, liquidator, trustee, sequestrator or
other similar official acting in relation to the Company or such Guarantor, any amount paid to the
Trustee or such Holder in respect of a Security, this Guarantee, to the extent theretofore
discharged, shall be reinstated in full force and effect. Each Guarantor further agrees, to the
fullest extent that it may lawfully do so, that, as between it, on the one hand, and the Holders
and the Trustee, on the other hand, the maturity of the obligations guaranteed hereby may be
accelerated as provided in Article Five hereof for the purposes of its Guarantee, notwithstanding
any stay, injunction or other prohibition extant under any applicable bankruptcy law preventing
such acceleration in respect of the obligations guaranteed hereby.

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          Each Guarantor hereby further agrees that its obligations under this Indenture and the
Securities shall be unconditional, regardless of the validity, regularity or enforceability of this
Indenture or the Securities, the absence of any action to enforce this Indenture or the Securities,
any waiver or consent by any Holder with respect to any provisions of this Indenture or the
Securities, any modification or amendment of, or supplement to, this Indenture or the Securities,
the recovery of any judgment against the Company or any action to enforce any such judgment, or any
other circumstance that might otherwise constitute a legal or equitable discharge or defense of a
Guarantor.

          Each Guarantor that makes or is required to make any payment in respect of its Guarantee shall
be entitled to seek contribution from the other Guarantors to the extent permitted by applicable
law; provided that each Guarantor agrees that any such claim for contribution that such Guarantor
may have against any other Guarantor shall be subrogated to the prior payment in full, in cash, of
all obligations owed to Holders under or in respect of the Securities.

          Each Guarantor hereby irrevocably waives any claim or other rights that it may now or
hereafter acquire against the Company that arise from the existence, payment, performance or
enforcement of its obligations under its Guarantee and this Indenture, including, without
limitation, any right of subrogation, reimbursement, exoneration, contribution, indemnification,
any right to participate in any claim or remedy of the Holders against the Company or any
collateral that any such Holder or the Trustee on behalf of such Holder hereafter acquires, whether
or not such claim, remedy or right arises in equity, or under contract, statute or common law,
including, without limitation, the right to take or receive from the Company, directly or
indirectly, in cash or other property or by set-off or in any other manner, payment or security on
account of such claim or other rights. If any amount shall be paid to any Guarantor in violation of
the preceding sentence and the principal of (and premium, if any) and interest on the Securities
shall not have been paid in full, such amount shall be deemed to have been paid to such Guarantor
for the benefit of, and held in trust for the benefit of, the Holders, and shall forthwith be paid
to the Trustee for the benefit of the Holders to be credited and applied upon the principal of (and
premium, if any) and interest on the Securities. Each Guarantor acknowledges that it will receive
direct and indirect benefits from the issuance of the Securities pursuant to this Indenture and
that the waivers set forth in this Section 1202 are knowingly made in contemplation of such
benefits.

          Each Guarantee set forth in this Section 1202 shall not be valid or become obligatory for any
purpose with respect to a Security until the certificate of authentication on such Security shall
have been signed by or on behalf of the Trustee.

Section 1203. Obligations Unconditional.

          Subject to Section 1206, nothing contained in this Article Twelve or elsewhere in this
Indenture or in the Securities is intended to or shall impair, as among each Guarantor and the
Holders, the obligation of each Guarantor, which is absolute and unconditional, upon failure by the
Company, to pay to the Holders the principal of (and premium, if any) and interest on the
Securities as and when the same shall become due and payable in accordance with their terms, or is
intended to or shall affect the relative rights of the Holders and creditors of each Guarantor,

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nor shall anything herein or therein prevent any Holder or the Trustee on its behalf from
exercising all remedies otherwise permitted by applicable law upon default under this Indenture.

          Without limiting the foregoing, nothing contained in this Article Twelve will restrict the
right of the Trustee or the Holders to take any action to declare the Guarantee to be due and
payable prior to the Stated Maturity of the Securities pursuant to Section 502 or to pursue any
rights or remedies hereunder.

Section 1204. Execution of Guarantees.

          To evidence its obligations under this Article Twelve, each Guarantor hereby agrees to execute
a guarantee in a form set forth in the supplemental indenture or Officers’ Certificate for each
series of Securities guaranteed by the Guarantor, to be endorsed on each Security authenticated and
delivered by the Trustee. The signature of any officer of a Guarantor on the Securities may be
manual or facsimile. Each Guarantor hereby agrees that its Guarantee set forth in this Article
Twelve shall remain in full force and effect notwithstanding any failure to endorse such Guarantee
on any series of Securities.

Section 1205. Withholding.

          All payments made by a Guarantor with respect to the Guarantees will be made without
withholding or deduction for, or on account of, any present or future taxes, duties, assessments or
governmental charges of whatever nature imposed or levied by or on behalf of any country (other
than the United States) or any political subdivision thereof or any authority therein or thereof
having power to tax, unless the withholding or deduction of such taxes, duties, assessments or
governmental charges is then required by law. In the event that any country (other than the United
States) or any political subdivision thereof, or any authority therein or thereof, imposes any such
withholding or deduction on (a) any payments made by a Guarantor with respect to the Guarantees or
(b) any net proceeds on the sale to or exchange with any Guarantor of the Securities, such
Guarantor will pay such additional amounts as may be necessary in order that the net amounts
received in respect to such payments or sale or exchange by the Holders or the Trustee, as the case
may be, after such withholding or deduction shall equal the respective amounts that would have been
received in respect of such payments or sale or exchange in the absence of such withholding or
deduction; except that no such additional amounts shall be payable with respect to any series of
Securities held by or on behalf of a Holder who is liable for such taxes, duties, assessments or
governmental charges in respect of such Security by reason of his being a citizen or resident of,
or carrying on a business in, the country of residence of any Guarantor. Notwithstanding the
foregoing, a Guarantor making a payment on the Securities pursuant to the Guarantee shall not be
required to pay any additional amounts if (x) the beneficial holder of a Security received by
certified mail (evidenced by a return receipt signed by such beneficial holder) (i) written notice
from such Guarantor no less than 60 days in advance of making such payment and (ii) the appropriate
forms or instructions necessary to enable such beneficial holder to certify or document the
availability of an exemption from, or reduction of, the withholding or deduction of such taxes
under applicable law, which such instructions shall clearly specify that additional amounts under
this Section 1205 may not be paid if such forms are not completed by such beneficial holder, and
(y) the Guarantor that would otherwise have to pay such additional amounts establishes to the
satisfaction of the Trustee that the obligation to pay

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such additional amounts would not have risen but for the failure of such beneficial holder to
(i) duly complete such forms as were actually received by such beneficial holder or respond to such
instructions and (ii) provide to such Guarantor such duly completed forms or responses to
instructions. Without prejudice to the survival of any of the agreements of the Guarantors
hereunder, the agreements and obligations of the Guarantors contained in this Section 1205 shall
survive the payment in full of Securities and all other amounts payable under this Guarantee.

Section 1206. Limitation of Guarantees.

          The Company and each Holder by its acceptance thereof, hereby confirm that it is the intention
of all such parties that any Guarantee of the Securities executed by a Guarantor under this
Indenture and the terms of a supplemental indenture or Officers’ Certificate for any series of
Securities not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Law,
the Uniform Fraudulent Conveyance Act or any similar federal or state law. To effectuate the
foregoing intention, in the event that any such Guarantee would constitute or result in a violation
of any applicable fraudulent conveyance or similar law of any relevant jurisdiction, the liability
of the Guarantor under such Guarantee shall be reduced to the maximum amount, after giving effect
to all other contingent and fixed liabilities of such Guarantor, permissible under the applicable
fraudulent conveyance or similar law.

Section 1207. Release of Guarantees.

          (a) Concurrently with the payment in full of all of the Securities, the Guarantors shall be
released from and relieved of their obligations under this Article Twelve. Upon the delivery by the
Company to the Trustee of an Officers’ Certificate and, if requested by the Trustee, an Opinion of
Counsel to the effect that the transaction giving rise to the release of such obligations was made
by the Company in accordance with the provisions of this Indenture, the Trustee shall execute any
documents reasonably required in order to evidence the release of the Guarantors from their
obligations. If any of the Guaranteed Obligations are revived and reinstated after the termination
of this Guarantee, then all of the obligations of the Guarantors under this Guarantee shall be
revived and reinstated as if this Guarantee had not been terminated until such time as the
Guaranteed Obligations are again terminated, and the Guarantors shall enter into an amendment to
this Guarantee, reasonably satisfactory to the Trustee, evidencing such revival and reinstatement.

          (b) Upon the sale or disposition of all the Capital Stock owned by the Company of a Guarantor
(by merger or otherwise) to a Person other than the Company or any other Guarantor and which sale
or disposition is otherwise in compliance with the terms of this Indenture, such Guarantor shall be
deemed released from all obligations under this Article Twelve; provided, however, that any such
termination upon such sale or disposition shall occur if and only to the extent that all
obligations of such Guarantor under all of its guarantees of, and under all of its pledges of
assets or other security interests which secure, indebtedness of the Company or any other Guarantor
shall also terminate upon such sale or disposition. Upon the delivery by the Company to the Trustee
of an Officers’ Certificate and, if requested by the Trustee, an Opinion of Counsel to the effect
that the transaction giving rise to the release of such obligations was made in accordance with the
provisions of this Indenture, the Trustee shall execute any documents reasonably required in order
to evidence the release of such Guarantor

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from its obligations. Any Guarantor not so released remains liable for the full amount of
principal of (and premium, if any) and interest on the Securities as provided in this Article
Twelve.

Section 1208. Terms.

          No Guarantor may consolidate with or merge with or into (whether or not such Guarantor is the
surviving Person) another corporation, Person or entity (other than the Company or another
Guarantor), unless (i) subject to the provisions of Section 1207 hereof, the Person formed by or
surviving any such consolidation or merger (if other than the Guarantor) assumes all of the
obligations of such Guarantor under the Notes (including the guarantee) in form and substance
reasonably satisfactory to the Trustee, together with an Officers’ Certificate of the Company and
an Opinion of Counsel stating that the transaction and such supplemental indenture comply with this
Indenture and (ii) immediately after giving effect to such transaction, no Event of Default exists.

ARTICLE THIRTEEN

REPAYMENT AT THE OPTION OF HOLDERS

Section 1301. 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, if any, and (except as
otherwise specified by the terms of such series established pursuant to Section 301) in accordance
with this Article.

Section 1302. 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 at least
one Business Day prior to the Repayment Date it will deposit with the Trustee or with a Paying
Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 1003) an amount of money in the currency or currencies in which the Securities
of such series are payable (except as otherwise specified pursuant to Section 301 for the
Securities of such series) 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, unless otherwise specified pursuant to Section 301 or in the
Security of such series) accrued interest on, all the Securities or portions thereof, as the case
may be, to be repaid on such date.

Section 1303. 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. In order for any
Security to be repaid at the option of the Holder, the Trustee must receive at the Place of

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Payment therefor specified in the terms of such Security (or at such other place or places of
which the Company shall from time to time notify the Holders of such Securities) not earlier than
60 days nor later than 30 days prior to the Repayment Date (1) the Security so providing for such
repayment together with the “Option to Elect Repayment” form on the reverse thereof duly completed
by the Holder (or by the Holder’s attorney duly authorized in writing) or (2) a telegram, telex,
facsimile transmission or a letter from a member of a national securities exchange, or the National
Association of Securities Dealers, Inc. (“NASD”), or a commercial bank or trust company in the
United States setting forth the name of the Holder of the Security, the principal amount of the
Security, the principal amount of the Security to be repaid, the CUSIP number, if any, or a
description of the tenor and terms of the Security, a statement that the option to elect repayment
is being exercised thereby and a guarantee that the Security to be repaid, together with the duly
completed form entitled “Option to Elect Repayment” on the reverse of the Security, will be
received by the Trustee not later than the fifth Business Day after the date of such telegram,
telex, facsimile transmission or letter; provided, however, that such telegram, telex, facsimile
transmission or letter shall only be effective if such Security and form duly completed are
received by the Trustee by such fifth Business Day. 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.

Section 1304. When Securities Presented for Repayment Become Due and Payable.

          If Securities of any series provide for repayment at the option of the Holders thereof shall
have been surrendered as provided in this Article and as provided by or pursuant to the terms of
such Securities, such Securities or the portion 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 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
at an office or agency located outside the United States (except as otherwise provided in Section
1002) and, unless otherwise specified pursuant to Section 301, only upon presentation and surrender
of such coupons; and provided further that, in the case of Registered Securities (except as
otherwise specified in or pursuant to this Indenture or the Registered Securities of a series),
installments of interest, if any, whose Stated Maturity is on

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or prior to the Repayment Date shall be payable (but with interest thereon, unless the Company
shall default in the payment thereof) to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business relevant Record Dates according to their
terms and the provisions of Section 307.

          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 1302 an amount equal to the face amount of all such
missing coupons, or the surrender of such missing coupon or coupons may be waived by the Company
and the Trustee if there be furnished to it such security or indemnity as they may require to save
it and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the
Trustee or any Paying Agent any such missing coupon in respect of which a deduction shall have been
made 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 1002)
and, unless otherwise specified as contemplated by Section 301, only presentation and surrender of
those coupons.

          If the principal amount of any Security surrendered for repayment shall not be so repaid upon
surrender thereof, such principal amount (together with interest, if any, thereon accrued to such
Repayment Date to the extent legally enforceable) 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 1305. Securities Repaid in Part.

          Upon surrender of any Registered Security which is to be repaid in part only, the Company
shall execute and the 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.

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ARTICLE FOURTEEN

DEFEASANCE AND COVENANT DEFEASANCE

			
	Section 1401.	 	Applicability of Article; Company’s Option to Effect Defeasance or Covenant
Defeasance.

          If, pursuant to Section 301, provision is made for either or both of (a) defeasance of the
Securities of or within a series under Section 1402 or (b) covenant defeasance of the Securities of
or within a series under Section 1403, then the provisions of such Section or Sections, as the case
may be, together with the other provisions of this Article (with such modifications thereto as may
be specified pursuant to Section 301 with respect to any Securities), shall be applicable to such
Securities and any coupons appertaining thereto, and the Company may at its option by Board
Resolution, at any time, with respect to such Securities and any coupons appertaining thereto,
elect to have Section 1402 (if applicable) or Section 1403 (if applicable) be applied to such
Outstanding Securities and any coupons appertaining thereto upon compliance with the conditions set
forth below in this Article.

Section 1402. Defeasance and Discharge.

          Upon the Company’s exercise of the above option applicable to this Section with respect to any
Securities of or within a series, the Company shall be deemed to have been discharged from its
obligations with respect to such Outstanding Securities and any coupons appertaining thereto on the
date the conditions set forth in Section 1404 are satisfied (hereinafter, “defeasance”). For this
purpose, such defeasance means that the Company shall be deemed to have paid and discharged the
entire indebtedness represented by such Outstanding Securities and any coupons appertaining
thereto, which shall thereafter be deemed to be “Outstanding” only for the purposes of Section 1405
and the other Sections of this Indenture referred to in clauses (A) and (B) below, and to have
satisfied all of its other obligations under such Securities and any coupons appertaining thereto
and this Indenture insofar as such Securities and any coupons appertaining thereto are concerned
(and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the
same), except for the following which shall survive until otherwise terminated or discharged
hereunder: (A) the rights of Holders of such Outstanding Securities and any coupons appertaining
thereto to receive, solely from the trust fund described in Section 1404 and as more fully set
forth in such Section, payments in respect of the principal of (and premium or Make-Whole Amount,
if any) and interest, if any, on such Securities and any coupons appertaining thereto when such
payments are due, (B) the Company’s obligations with respect to such Securities under Sections 305,
306, 1002 and 1003 and with respect to the payment of Additional Amounts, if any, on such
Securities as contemplated by Section 1012, (C) the rights, powers, trusts, duties and immunities
of the Trustee hereunder, (D) the rights of Holders to convert or exchange Securities, if any, in
accordance with their terms, and (E) this Article. Subject to compliance with this Article
Fourteen, the Company may exercise its option under this Section notwithstanding the prior exercise
of its option under Section 1403 with respect to such Securities and any coupons appertaining
thereto.

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Section 1403. Covenant Defeasance.

          Upon the Company’s exercise of the above option applicable to this Section with respect to any
Securities of or within a series, the Company shall be released from its obligations under Sections
1004 to 1010, inclusive and, if specified pursuant to Section 301, its obligations under any other
covenant, with respect to such Outstanding Securities and coupons appertaining thereto on and after
the date the conditions set forth in Section 1404 are satisfied (hereinafter, “covenant
defeasance”), and such Securities and any coupons appertaining thereto shall thereafter be deemed
to be not “Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of
Holders (and the consequences of any thereof) in connection with Sections 1004 to 1010, inclusive,
or such other covenant, but shall continue to be deemed “Outstanding” for all other purposes
hereunder. For this purpose, such covenant defeasance means that, with respect to such Outstanding
Securities and any coupons appertaining thereto, the Company may omit to comply with and shall have
no liability in respect of any term, condition or limitation set forth in any such Section or such
other covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any
such Section or such other covenant or by reason of reference in any Section or such other covenant
to any other provision herein or in any other document and such omission to comply shall not
constitute a default or an Event of Default under Section 501(3) or 501(7) otherwise, as the case
may be, but, except as specified above, remainder of this Indenture and such Securities and any
coupons appertaining thereto shall be unaffected thereby.

Section 1404. Conditions to Defeasance or Covenant Defeasance.

          The following shall be the conditions to application of Section 1402 or Section 1403 to any
Outstanding Securities of or within a series and any coupons appertaining thereto:

                   (a) The Company shall irrevocably have deposited or caused to be deposited with the Trustee
(or another trustee satisfying the requirements of Section 607 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 coupons appertaining thereto, (1) an amount in
such currency, currencies or currency unit in which such Securities and any coupons appertaining
thereto are then specified as payable at Stated Maturity, or (2) Government Obligations applicable
to such Securities and coupons appertaining thereto (determined on the basis of the currency,
currencies or currency unit in which such Securities and coupons appertaining thereto are then
specified as payable at Stated Maturity) which through the scheduled payment of principal and
interest in respect thereof in accordance with the terms will provide, not later than one day
before the due date of any payment of principal of (and premium or Make-Whole Amount, if any) and
interest, if any, on such Securities and any coupons appertaining thereto, money in an amount, or
(3) a combination thereof, in any case, in an amount, sufficient, without consideration of any
reinvestment of such principal and interest, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered the Trustee,
to pay and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to
pay and discharge, the principal of (and premium or Make-Whole Amount, if any) and interest, if
any, on such Outstanding Securities and any coupons, appertaining thereto on the Stated Maturity of
such principal or installment of

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principal or interest or analogous payments applicable to such Outstanding Securities and any
coupons appertaining thereto 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 coupons appertaining thereto.

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

               (c) No Event of Default or event which with notice or lapse of time or both would become an
Event of Default with respect to such Securities and any coupons appertaining thereto shall have
occurred and be continuing on the date of such deposit or, insofar as Sections 501(5) and 501(6)
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).

               (d) In the case of an election under Section 1402, the Company shall have delivered to the
Trustee an Opinion of Counsel stating that (i) the Company has received from, or there has been
published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this
Indenture, there has been a change in the applicable Federal income tax law, in either case to the
effect that, and based thereon such opinion shall confirm that, the Holders of such Outstanding
Securities and any coupons appertaining thereto will not recognize income, gain or loss for Federal
income tax purposes as a result of such defeasance and will be subject to Federal income tax on the
same amounts, in the same manner and at the same times as would have been the case if such
defeasance had not occurred.

               (e) In the case of an election under Section 1403, the Company shall have delivered to the
Trustee an Opinion of Counsel to the effect that the Holders of such Outstanding Securities and any
coupons appertaining thereto will not recognize income, gain or loss for Federal income tax
purposes as a result of such covenant defeasance and will be subject to Federal income tax on the
same amounts, in the same manner and at the same times as would have been the case if such covenant
defeasance had not occurred.

               (f) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent to the defeasance under Section 1402 or the
covenant defeasance under Section 1403 (as the case may be) have been complied with and an Opinion
of Counsel to the effect that either (i) as a result of a deposit pursuant to subsection (a) above
and the related exercise of the Company’s option under Section 1402 or Section 1403 (as the case
may be), registration is not required under the Investment Company Act of 1940, as amended, by the
Company with respect to the trust funds representing such deposit or by the Trustee for such trust
funds or (ii) all necessary registrations under said Act have been effected.

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

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	Section 1405.	 	Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous
Provisions.

          Subject to the provisions of the last paragraph of Section 1003, all money and Government
Obligations (or other property as may be provided pursuant to Section 301) (including the proceeds
thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this
Section 1405, the “Trustee”) pursuant to Section 1404 in respect of any Outstanding Securities of
any series and any coupons appertaining thereto shall be held in trust and applied by the Trustee,
in accordance with the provisions of such Securities and any coupons appertaining thereto and this
Indenture, to the payment, either directly or through any Paying Agent as the Trustee may
determine, to the Holders of such Securities and any coupons appertaining thereto of all sums due
and to become due thereon in respect of principal (and premium or Make-Whole Amount, if any) and
interest and Additional Amounts, if any, but such money need not be segregated from other funds
except to the extent required by law.

          Unless otherwise specified with respect to any Security pursuant to Section 301, if, after a
deposit referred to in Section 1404(a) has been made, (a) the Holder of a Security in respect of
which such deposit was made is entitled to, and does, elect pursuant to Section 301 or the terms of
such Security to receive payment in a currency or currency unit other than that in which the
deposit pursuant to Section 1404(a) has been made in respect of such Security, or (b) a Conversion
Event occurs in respect of the currency or currency unit in which the deposit pursuant to Section
1404(a) has been made, the indebtedness represented by such Security and any coupons appertaining
thereto shall be deemed to have been, and will be, fully discharged and satisfied through the
payment of the principal of (and premium or Make-Whole Amount, if any), and interest, if any, on
such Security as the same becomes due out of the proceeds yielded by converting (from time to time
as specified below in the case of any such election) the amount or other property deposited in
respect of such Security into the currency or currency unit 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 or currency unit in effect on the second Business Day prior to each payment date,
except, with respect to a Conversion Event, for such currency or currency unit in effect (as nearly
as feasible) at the time of the Conversion Event.

          The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the Government Obligations deposited pursuant to Section 1404 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 Outstanding Securities and any coupons
appertaining thereto. This indemnity shall survive the resignation or removal of the Trustee and
the termination of this Indenture.

          Anything in this Article to the contrary notwithstanding, subject to Section 606, the Trustee
shall deliver or pay to the Company from time to time upon the Company Request any money or
Government Obligations (or other property and any proceeds therefrom) held by it as provided in
Section 1404 which, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, are in excess of
the amount thereof which would then be required to be deposited to effect a defeasance or covenant
defeasance, as applicable, in accordance with this Article.

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ARTICLE FIFTEEN

MEETINGS OF HOLDERS OF SECURITIES

Section 1501. Purposes for which Meetings may be Called.

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

Section 1502. Call, Notice and Place of Meetings.

          (a) The Trustee may at any time call a meeting of Holders of Securities of any series for any
purpose specified in Section 1501, to be held at such time and at such place as the Trustee shall
determine. Notice of every meeting of Holders of Securities of any series, setting forth the time
and the place of such meeting and in general terms the action proposed to be taken at such meeting,
shall be given, in the manner provided in Section 106, not less than 21 nor more than 180 days
prior to the date fixed for the meeting.

          (b) 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
Trustee to call a meeting of the Holders of Securities of such series for any purpose specified in
Section 1501, by written request setting forth in reasonable detail the action proposed to be taken
at the meeting, and the Trustee 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 for such
meeting and may call such meeting for such purposes by giving notice thereof as provided in
subsection (a) of this Section.

Section 1503. Persons Entitled to Vote at Meetings.

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

Section 1504. 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 Act 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

- 81 -

 

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 after the
time appointed for any such meeting, the meeting shall, if convened at the request of Holders of
Securities of such series, be dissolved. In any other case the meeting may be adjourned for a
period of not less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such
adjourned meeting may be further adjourned for a period of not less than 10 days as determined by
the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the
reconvening of any adjourned meeting shall be given as provided in Section 1502(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.

          Except as limited by the proviso to Section 902, 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 a majority in principal amount of the Outstanding Securities of
that series; provided, however, that, except as limited by the proviso to Section 902, any
resolution with respect to any request, demand, authorization, direction, notice, consent, waiver
or other Act which this Indenture expressly provides may be made, given or taken by the Holders of
a specific percentage, that is less than a majority in principal amount of the Outstanding
Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at
which a quorum is present as aforesaid by the affirmative vote of the Holders of such specified
percentage in principal amount of the Outstanding Securities of that series.

          Any resolution passed or decision taken at any meeting of Holders of Securities of any series
duly held in accordance with this Section shall be binding on all of 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 1504, 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 act 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.

- 82 -

 

Section 1505. Determination of Voting Rights; Conduct and Adjournment of Meetings.

          (a) Notwithstanding any provisions of this Indenture, the Trustee may make such reasonable
regulations as it 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 it shall deem appropriate. Except as otherwise permitted or required
by any such regulations, the holding of Securities shall be proved in the manner specified in
Section 104 and the appointment of any proxy shall be proved in the manner specified in Section 104
or by having the signature of the Person executing the proxy witnessed or guaranteed by any trust
company, bank or banker authorized by Section 104 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 104 or other proof.

          (b) The Trustee shall, by an instrument in writing appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders of Securities
provided in Section 1502(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 chairman. A
permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons
entitled to vote a majority in principal amount of the Outstanding Securities of such series
represented at the meeting.

          (c) 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 the Outstanding Securities of such series held or
represented by him; provided, however, that no vote shall be cast or counted at any meeting in
respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to
be not Outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of
a Security of such series or proxy.

          (d) Any meeting of Holders of Securities of any series duly called pursuant to Section 1502 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 1506. Counting Votes and Recording Action of Meetings.

          The vote upon any resolution submitted to any meeting of Holders of Securities of any series
shall be by written ballots on which shall be subscribed the signatures of the Holders of
Securities of such series or of their representatives by proxy and the principal amounts and serial
numbers of the Outstanding Securities of such series held or represented by them. The permanent
chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the
meeting for or against any resolution and who shall make and file with the secretary of the meeting
their verified written reports in 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

- 83 -

 

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 fact, setting forth a copy of the notice
of the meeting and showing that said notice was given as provided in Section 1502 and, if
applicable, Section 1504. Each copy shall be signed and verified by the affidavits of the permanent
chairman and secretary of meeting and one such copy shall be delivered to the Company and another
to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots
voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters
therein stated.

Section 1507. Evidence of Action Taken by Holders.

          Any request, demand, authorization, direction, notice, consent, waiver or other Act provided
by this Indenture to be given or taken by a specified percentage in principal amount of the Holders
of any or all series may be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such specified percentage of Holders in person or by an agent duly
appointed in writing; and, except as herein otherwise expressly provided, such Act shall become
effective when such instrument or instruments are delivered to the Trustee. Proof of execution of
any instrument or of a writing appointing any such agent shall be sufficient for any purpose of
this Indenture and (subject to Article Six) conclusive in favor of the Trustee and the Company, if
made in the manner provided in this Article.

Section 1508. Proof of Execution of Instruments.

          Subject to Article Six, the execution of any instrument by a Holder or his agent or proxy may
be proved in accordance with such reasonable rules and regulations as may be prescribed by the
Trustee or in such manner as shall be satisfactory to the Trustee.

************

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

- 84 -

 

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

	 	 	 	 	 
		 	CAPITALSOURCE INC.

	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	 	 	U.S. BANK, NATIONAL ASSOCIATION,

as Trustee
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	 	 	The Guarantors:
	 
	 	 	 	 
	 	 	CAPITALSOURCE FINANCE LLC
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	 	 	CAPITALSOURCE HOLDINGS INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Title:	 	 

- 1 -

 

EXHIBIT A

FORMS OF CERTIFICATION

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

[Insert title or sufficient description of Securities to be delivered]

          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 person(s) that are not
citizens or residents of the United States, domestic partnerships, domestic corporations or any
estate or trust the income of which is subject to United States federal income taxation regardless
of its source (“United States person(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 Treasury Regulations Section 2.165-12(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 Colonial Prospective Trust 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 Regulations 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 “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 by tested telex 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

1

 

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.

          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]

                                    
 (Authorized Signatory)

          Name:

         Title:

2

 

EXHIBIT A-2

FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR

AND CLEARSTREAM IN CONNECTION WITH THE EXCHANGE

OF A PORTION OF A TEMPORARY GLOBAL SECURITY OR TO

OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE DATE

CERTIFICATE

[Insert title or sufficient description of Securities to be delivered]

          This is to certify that, based solely on written certifications that we have received in
writing, by tested telex 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
person(s) that are not citizens or residents of the United States, domestic partnerships, domestic
corporations or any estate or trust the income of which is subject to United States Federal income
taxation regardless of its source (“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 U.S. Treasury Regulations 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 Colonial Prospective Trust 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 Regulations 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.

3

 

          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 Exchange

Date or the relevant Interest Payment

Date occurring prior to the Exchange Date,

as applicable]

	 	 	 	 	 
	 	 	[Morgan Guaranty Trust Company of New York, Brussels
	 	 	Office,] as Operator of the Euroclear System]
	 	 	[Clearstream Banking, société anonyme, Luxembourg]
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 

4

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 	 	1	 
	Section 101.
	 	Definitions	 	 	1	 
	Section 102.
	 	Compliance Certificates and Opinions	 	 	12	 
	Section 103.
	 	Form of Documents Delivered to Trustee	 	 	12	 
	Section 104.
	 	Acts of Holders	 	 	13	 
	Section 105.
	 	Notices, etc., to Trustee and Company	 	 	14	 
	Section 106.
	 	Notice to Holders; Waiver	 	 	15	 
	Section 107.
	 	Effect of Headings and Table of Contents	 	 	16	 
	Section 108.
	 	Successors and Assigns	 	 	16	 
	Section 109.
	 	Separability Clause	 	 	16	 
	Section 110.
	 	Benefits of Indenture	 	 	16	 
	Section 111.
	 	No Personal Liability	 	 	16	 
	Section 112.
	 	Governing Law	 	 	17	 
	Section 113.
	 	Legal Holidays	 	 	17	 
	ARTICLE TWO FORMS OF SECURITIES	 	 	17	 
	Section 201.
	 	Forms of Securities	 	 	17	 
	Section 202.
	 	Form of Trustee’s Certificate of Authentication	 	 	18	 
	Section 203.
	 	Securities Issuable in Global Form	 	 	18	 
	ARTICLE THREE THE SECURITIES	 	 	19	 
	Section 301.
	 	Amount Unlimited; Issuable in Series	 	 	19	 
	Section 302
	 	Denominations	 	 	23	 
	Section 303.
	 	Execution, Authentication, Delivery and Dating	 	 	23	 
	Section 304.
	 	Temporary Securities	 	 	25	 
	Section 305.
	 	Registration, Registration of Transfer and Exchange	 	 	27	 
	Section 306.
	 	Mutilated, Destroyed, Lost and Stolen Securities	 	 	31	 
	Section 307.
	 	Payment of Interest; Interest Rights Preserved	 	 	32	 
	Section 308.
	 	Persons Deemed Owners	 	 	34	 
	Section 309.
	 	Cancellation	 	 	34	 
	Section 310.
	 	Computation of Interest	 	 	35	 
	ARTICLE FOUR SATISFACTION AND DISCHARGE	 	 	35	 
	Section 401.
	 	Satisfaction and Discharge of Indenture	 	 	35	 
	Section 402.
	 	Application of Trust Funds	 	 	36	 
	ARTICLE FIVE REMEDIES	 	 	37	 
	Section 501.
	 	Events of Default	 	 	37	 
	Section 502.
	 	Acceleration of Maturity; Rescission and Annulment	 	 	39	 
	Section 503.
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	 	 	40	 
	Section 504. 
	 	Trustee May File Proofs of Claim	 	 	40	 
	Section 505.
	 	Trustee May Enforce Claims Without Possession of	 	 	 	 
	 
	 	Securities or Coupons	 	 	41	 

 i 

 

 

	 	 	 	 	 	 	 
	Section 506.
	 	Application of Money Collected	 	 	41	 
	Section 507.
	 	Limitation on Suits	 	 	42	 
	Section 508.
	 	Unconditional Right of Holders to Receive Principal, Premium or Make-Whole Amount, if any, Interest and Additional Amounts	 	 	42	 
	Section 509.
	 	Restoration of Rights and Remedies	 	 	43	 
	Section 510.
	 	Rights and Remedies Cumulative	 	 	43	 
	Section 511.
	 	Delay or Omission Not Waiver	 	 	43	 
	Section 512.
	 	Control by Holders of Securities	 	 	43	 
	Section 513.
	 	Waiver of Past Defaults	 	 	44	 
	Section 514.
	 	Waiver of Usury, Stay or Extension Laws	 	 	44	 
	Section 515.
	 	Undertaking for Costs	 	 	44	 
	ARTICLE SIX THE TRUSTEE	 	 	45	 
	Section 601.
	 	Notice of Defaults	 	 	45	 
	Section 602.
	 	Certain Rights of Trustee	 	 	45	 
	Section 603.
	 	Not Responsible for Recitals or Issuance of Securities	 	 	47	 
	Section 604.
	 	May Hold Securities	 	 	47	 
	Section 605.
	 	Money Held in Trust	 	 	48	 
	Section 606.
	 	Compensation and Reimbursement	 	 	48	 
	Section 607.
	 	Corporate Trustee Required; Eligibility; Conflicting Interests	 	 	49	 
	Section 608. 
	 	Resignation and Removal; Appointment of Successor	 	 	49	 
	Section 609.
	 	Acceptance of Appointment by Successor	 	 	50	 
	Section 610.
	 	Merger, Conversion, Consolidation or Succession to Business	 	 	51	 
	Section 611.
	 	Appointment of Authenticating Agent	 	 	52	 
	ARTICLE SEVEN HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	 	 	54	 
	Section 701.
	 	Disclosure of Names and Addresses of Holders	 	 	54	 
	Section 702.
	 	Reports by Trustee	 	 	54	 
	Section 703.
	 	Reports by Company and Guarantors	 	 	54	 
	Section 704.
	 	The Company to Furnish Trustee Names and Addresses of Holders	 	 	55	 
	ARTICLE EIGHT CONSOLIDATION, MERGER, SALE, LEASE OR CONVEYANCE	 	 	55	 
	Section 801.
	 	Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions	 	 	55	 
	Section 802.
	 	Rights and Duties of Successor Entity	 	 	55	 
	Section 803.
	 	Officers’ Certificate and Opinion of Counsel	 	 	56	 
	ARTICLE NINE SUPPLEMENTAL INDENTURES	 	 	56	 
	Section 901.
	 	Supplemental Indentures without Consent of Holders	 	 	56	 
	Section 902.
	 	Supplemental Indentures with Consent of Holders	 	 	58	 
	Section 903.
	 	Execution of Supplemental Indentures	 	 	59	 
	Section 904.
	 	Effect of Supplemental Indentures	 	 	59	 
	Section 905.
	 	Conformity with TIA	 	 	59	 

ii

 

 

	 	 	 	 	 	 	 
	Section 906.
	 	Reference in Securities to Supplemental Indentures	 	 	59	 
	Section 907.
	 	Notice of Supplemental Indentures	 	 	59	 
	ARTICLE TEN COVENANTS	 	 	60	 
	Section 1001.
	 	Payment of Principal, Premium (if
any), Make-Whole Amount (if any), Interest and Additional Amounts	 	 	60	 
	Section 1002.
	 	Maintenance of Office or Agency	 	 	60	 
	Section 1003.
	 	Money for Securities Payments to Be Held in Trust	 	 	62	 
	Section 1004.
	 	[Omitted]	 	 	63	 
	Section 1005.
	 	[Omitted]	 	 	63	 
	Section 1006.
	 	Existence	 	 	63	 
	Section 1007.
	 	Maintenance of Properties	 	 	63	 
	Section 1008.
	 	Insurance	 	 	64	 
	Section 1009.
	 	Payment of Taxes and Other Claims	 	 	64	 
	Section 1010.
	 	Provision of Financial Information	 	 	64	 
	Section 1011.
	 	Statement as to Compliance	 	 	65	 
	Section 1012.
	 	Additional Amounts	 	 	65	 
	Section 1013.
	 	Waiver of Certain Covenants	 	 	66	 
	ARTICLE ELEVEN REDEMPTION OF SECURITIES	 	 	66	 
	Section 1101.
	 	Applicability of Article	 	 	66	 
	Section 1102.
	 	Election to Redeem; Notice to Trustee	 	 	66	 
	Section 1103.
	 	Selection by Trustee of Securities to Be Redeemed	 	 	66	 
	Section 1104.
	 	Notice of Redemption	 	 	67	 
	Section 1105.
	 	Deposit of Redemption Price	 	 	68	 
	Section 1106.
	 	Securities Payable on Redemption Date	 	 	68	 
	Section 1107.
	 	Securities Redeemed in Part	 	 	69	 
	ARTICLE TWELVE GUARANTEES	 	 	70	 
	Section 1201.
	 	Applicability of Article	 	 	70	 
	Section 1202.
	 	Guarantees	 	 	70	 
	Section 1203.
	 	Obligations Unconditional	 	 	71	 
	Section 1204.
	 	Execution of Guarantees	 	 	72	 
	Section 1205.
	 	Withholding	 	 	72	 
	Section 1206.
	 	Limitation of Guarantees	 	 	73	 
	Section 1207.
	 	Release of Guarantees	 	 	73	 
	Section 1208.
	 	Terms	 	 	74	 
	ARTICLE THIRTEEN REPAYMENT AT THE OPTION OF HOLDERS	 	 	74	 
	Section 1301.
	 	Applicability of Article	 	 	74	 
	Section 1302.
	 	Repayment of Securities	 	 	74	 
	Section 1303.
	 	Exercise of Option	 	 	74	 
	Section 1304.
	 	When Securities Presented for
Repayment Become Due and Payable	 	 	75	 
	Section 1305.
	 	Securities Repaid in Part	 	 	76	 
	ARTICLE FOURTEEN DEFEASANCE AND COVENANT DEFEASANCE	 	 	77	 
	Section 1401.
	 	Applicability of Article;
Company’s Option to Effect Defeasance or Covenant Defeasance	 	 	77	 
	Section 1402.
	 	Defeasance and Discharge	 	 	77	 
	Section 1403.
	 	Covenant Defeasance	 	 	78	 

iii

 

 

	 	 	 	 	 	 	 
	Section 1404.
	 	Conditions to Defeasance or Covenant Defeasance	 	 	78	 
	Section 1405.
	 	Deposited Money and Government
Obligations to be Held in Trust; Other Miscellaneous Provisions	 	 	80	 
	ARTICLE FIFTEEN MEETINGS OF HOLDERS OF SECURITIES	 	 	81	 
	Section 1501.
	 	Purposes for which Meetings may be Called	 	 	81	 
	Section 1502.
	 	Call, Notice and Place of Meetings	 	 	81	 
	Section 1503.
	 	Persons Entitled to Vote at Meetings	 	 	81	 
	Section 1504.
	 	Quorum; Action	 	 	81	 
	Section 1505.
	 	Determination of Voting Rights;
Conduct and Adjournment of Meetings	 	 	83	 
	Section 1506.
	 	Counting Votes and Recording Action of Meetings	 	 	83	 
	Section 1507.
	 	Evidence of Action Taken by Holders	 	 	84	 
	Section 1508.
	 	Proof of Execution of Instruments	 	 	84	 

iv

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