Document:

exv10w1

 

Exhibit 10.1

TERMINATION AGREEMENT

     This TERMINATION AGREEMENT (this “Termination Agreement”) is made and entered into as
of September 5, 2006, between Phelps Dodge Corporation, a New York corporation
(“Portugal”), and Inco Limited, a corporation organized and existing under the laws of
Canada (“Italy”). With reference to the Combination Agreement, dated as of June 25, 2006,
between Portugal and Italy, as amended by the Waiver and First Amendment to Combination Agreement,
made and entered into as of July 16, 2006, between Portugal and Italy (as so amended, the
“Combination Agreement”), and for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties to this Termination Agreement agree as
follows:

	1.	 	Pursuant to Section 9.1(a) of the Combination Agreement, the Combination Agreement is hereby
terminated and is of no further force or effect, effective as of the date hereof.
	 
	2.	 	In connection with such termination of the Combination Agreement, Italy shall pay to
Portugal, in immediately available funds, the amount of US$125 million, on the date hereof.
	 
	3.	 	If an Italy Competing Proposal is consummated on or prior to September 7, 2007, then Italy
shall pay to Portugal, within one (1) business day after demand by Portugal, the amount of
US$350 million.
	 
	4.	 	Except for the payments contemplated by paragraphs 2 and 3 of this Termination Agreement,
Portugal and Italy agree that neither party hereto shall have any obligations to make any
other payments to the other party, under Section 9.3 of the Combination Agreement or
otherwise, and notwithstanding anything in Section 9.2 of the Combination Agreement to the
contrary, each of Portugal and Italy, on behalf of itself and each of its parents, partners,
Affiliates and Subsidiaries, and its directors, officers, employees, successors and assigns
(collectively, the “Releasing Parties”), hereby irrevocably releases, acquits, forever
discharges and covenants not to sue the other, and each and all of its parents, partners,
Affiliates and Subsidiaries, and their past and present officers, directors, employees,
agents, representatives, attorneys, successors and assigns (collectively, the “Released
Parties”) of and from any and all claims, demands and causes of action that the Releasing
Parties, severally or jointly with others, had, has or may have against the Released Parties,
or any of them by reason of, arising out of or relating to any aspect of the Combination
Agreement (collectively, the “Released Claims”), including without limitation any
claim relating to any intentional or willful breach of the Combination Agreement.
Notwithstanding the foregoing, the Released Claims shall not include any claims, demands or
causes of action that arise out of or relate to the Confidentiality Agreements or this
Termination Agreement.
	 
	5.	 	Each of Italy and Portugal hereby represents and warrants that: (a) it has full power and
authority to enter into this Termination Agreement and to perform its obligations hereunder in
accordance with its provisions, (b) it has duly authorized, executed and delivered this
Termination Agreement, and (c) this Termination Agreement constitutes a legal, valid and
binding obligation of such party, enforceable in accordance with its
terms, except as enforceability may be limited by applicable bankruptcy, moratorium or other
similar laws affecting creditors’ rights generally and by general principles of equity.

 

 

	6.	 	All capitalized terms used herein without being specifically defined are used as defined in
the Combination Agreement.
	 
	7.	 	This Termination Agreement may be executed in one or more counterparts, which may be
delivered by facsimile transmission, all of which shall be considered one and the same
agreement and shall become effective when one or more counterparts have been signed by each of
the parties and delivered to the other party, it being understood that all parties need not
sign the same counterpart.
	 
	8.	 	This Termination Agreement shall be deemed to be made in and in all respects shall be
interpreted, construed and governed by and in accordance with, and any disputes arising out of
or related to this Termination Agreement shall be interpreted, construed and governed by and
in accordance with, the laws of the State of New York. The parties hereby irrevocably submit
to the jurisdiction of the courts of the State of New York solely in respect of the
interpretation and enforcement of the provisions of this Termination Agreement and of the
documents referred to herein, and in respect of the transactions contemplated hereby, and
hereby waive, and agree not to assert, as a defense in any Action for the interpretation or
enforcement hereof or of any such document, that it is not subject thereto or that such Action
may not be brought or is not maintainable in said courts or that the venue thereof may not be
appropriate or that this Termination Agreement or any such document may not be enforced in or
by such courts, and the parties hereto irrevocably agree that all claims with respect to such
Actions shall be heard and determined in such New York court. The parties hereby consent to
and grant any such court jurisdiction over the person of such parties and over the subject
matter of such dispute and agree that mailing of process or other papers in connection with
any such Action in the manner provided in Section 10.2 of the Combination Agreement or in such
other manner as may be permitted by Law shall be valid and sufficient service thereof.

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK.]

- 2 -

 

     IN WITNESS WHEREOF, the parties hereto have caused this Termination Agreement to be executed
by their duly authorized respective officers as of the date first written above.

	 	 	 	 	 
	 	PHELPS DODGE CORPORATION

 	 
	 	By:  	/s/
S. David Colton	 
	 	 	Name:  	S. David Colton	 
	 	 	Title:  	Senior Vice President and General Counsel	 
	 
	 	INCO LIMITED

 	 
	 	By:  	/s/  Simon A. Fish 	 
	 	 	Name:  	Simon A. Fish, Esq. 	 
	 	 	Title:  	Executive Vice President, General Counsel
and SecretaryEXHIBIT 10.25

                          2007 Executive Bonus Plan
                          -------------------------

      Upon  recommendation  of  the  Compensation  Committee,  the  Board  of
 Directors of Jack Henry & Associates, Inc.  hereby establishes the following
 as the 2007 Executive Bonus Plan for the company's Chief Executive  Officer,
 President and Chief Financial Officer  (the "Executives")  this 31st day  of
 August, 2006:

      Following the end of the current fiscal  year  (July 1, 2006 - June 30,
 2007), the Executives shall be paid  a performance-based bonus of up to  the
 percentage of their annual salary paid  during the fiscal year set forth  in
 the  following  table.  No bonuses  shall be  paid under  this plan  to  any
 Executive unless the  company attains a  growth in earnings  per share  (the
 "EPS Goal") of at least 14% for the current fiscal year.  If the EPS Goal is
 attained, then the Executive shall be eligible for a cash bonus of up to the
 following percentage of his base annual salary:

                  EPS Goal    Bonus Percentage
                  --------    ----------------
                     14%           7.5%
                     15%            20%
                     16%            25%
                     17%            30%
                     18%            35%
                     19%            40%
                     20%            45%EXHIBIT 10.26

                       2007 General Manager Bonus Plan
                       -------------------------------

      The Board  of  Directors  of  Jack  Henry  &  Associates,  Inc.  hereby
 establishes the following  as the 2007  General Manager Bonus  Plan for  the
 company's non-commissioned  General  Managers,  General  Counsel,  Corporate
 Secretary, and Controller (the "General Managers") this 31st day of  August,
 2006:

      Following the end of the current fiscal  year (July 1, 2006 - June  30,
 2007), the General Managers shall be paid a performance-based bonus of up to
 the percentage of their annual salary paid during the fiscal year set  forth
 in the following table.  No bonuses  shall  be paid under  this plan to  any
 General Manager unless the  company attains a growth  in earnings per  share
 (the "EPS Goal") of at least  14% for the current fiscal  year.  If the  EPS
 Goal is attained,  then the  General Manager shall  be eligible  for a  cash
 bonus of up to the following percentage of his or her base annual salary:

                  EPS Goal    Bonus Percentage
                  --------    ----------------
                     14%           7.5%
                     15%            20%
                     16%            25%
                     17%            30%
                     18%            35%
                     19%            40%
                     20%            45%

      Half of the bonus amount would be paid to each of the General  Managers
 upon attainment of the  EPS Goal.  The remaining  half  of the bonus  amount
 shall be  paid  to a  General  Manager  if specific  departmental  or  other
 objectives are attained by the General  Manager.  These specific  objectives
 for each General Manager  shall be established  by the executive officer  to
 whom the General Manager reports.Form of Indenture - FPL Group

    Exhibit
      4(au)

     

    _____________________________________________________

     

    FPL
      GROUP, INC.

    Issuer

     

    TO

     

    The
      Bank of New York,

    Trustee

     

    _________

     

    Indenture

    (For
      Unsecured [1Subordinated]
      Debt Securities

     

    [2relating
      to Trust Securities])

     

    Dated
      as of _______, 20__

     

    

    

    

    

    _____________________________________________________

    

     

     

      
        

      

    

    
      	
              1 

            	
              For
                use in connection with subordinated debt
                securities.

            

    

     

    
      	
              2

            	
              For
                use in connection with subordinated debt securities relating to trust
                securities, in addition to those provisions specified in
                1.

            

    

     

    
      	
              3

            	
              For
                use in connection with senior debt
                securities.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    TABLE
      OF
      CONTENTS

    

      
        	
                RECITAL
                  OF THE COMPANY

                 

              	
                1

              
	
                ARTICLE
                  ONE Definitions And Other Provisions Of General Application

                 

              	
                1

              
	
                SECTION
                  101.

              	
                Definitions

              	
                1

              
	 	
                “Act”

              	
                2

              
	 	
                [2“Additional
                  Interest”]

              	
                2

              
	 	
                “Affiliate”

              	
                2

              
	 	
                “Authenticating
                  Agent”

              	
                2

              
	 	
                “Authorized
                  Officer”

              	
                2

              
	 	
                “Board
                  of Directors”

              	
                2

              
	 	
                “Board
                  Resolution”

              	
                2

              
	 	
                “Business
                  Day”

              	
                
                  2

                

              
	 	
                “Commission”

              	
                
                  
                    2

                  

                

              
	 	
                [2“Common
                  Securities”]

              	
                3

              
	 	
                “Company”

              	
                3

              
	 	
                “Company
                  Request” or “Company Order”

              	
                3

              
	 	
                “Corporate
                  Trust Office”

              	
                3

              
	 	
                “Corporation”

              	
                3

              
	 	
                “Defaulted
                  Interest”

              	
                3

              
	 	
                “Discount
                  Security”

              	
                3

              
	 	
                “Dollar”
                  or “$”

              	
                
                  3

                

              
	 	
                “Eligible
                  Obligations”

              	
                
                  3

                

              
	 	
                “Event
                  of Default”

              	
                
                  3

                

              
	 	
                “Exchange
                  Act”

              	
                
                  3

                

              
	 	
                “Governmental
                  Authority”

              	
                
                  3

                

              
	 	
                “Government
                  Obligations”

              	
                
                  3

                

              
	 	
                “Holder”

              	
                4

              
	 	
                “Indenture”

              	
                
                  4

                

              
	 	
                “Interest
                  Payment Date”

              	
                
                  4

                

              
	 	
                “Maturity”

              	
                
                  4

                

              
	 	
                “Notice
                  of Default”

              	
                
                  4

                

              
	 	
                “Officer’s
                  Certificate”

              	
                
                  4

                

              
	 	
                “Opinion
                  of Counsel”

              	
                
                  4

                

              
	 	
                “Outstanding”

              	
                
                  4

                

              
	 	
                “Paying
                  Agent”

              	
                6

              
	 	
                “Periodic
                  Offering”

              	
                6

              
	 	
                “Person”

              	
                6

              
	 	
                “Place
                  of Payment”

              	
                
                  6

                

              
	 	
                “Predecessor
                  Security”

              	
                
                  6

                

              
	 	
                [2“Preferred
                  Securities”]

              	
                
                  6

                

              
	 	
                “Redemption
                  Date”

              	
                
                  6

                

              
	 	
                “Redemption
                  Price”

              	
                
                  6

                

              
	 	
                “Regular
                  Record Date”

              	
                
                  6

                

              
	 	
                “Required
                  Currency”

              	
                
                  6

                

              
	 	
                “Responsible
                  Officer”

              	
                
                  6

                

              
	 	
                “Securities”

              	
                
                  7

                

              
	 	
                “Securities
                  Act”

              	
                7

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                “Security
                  Register” and “Security Registrar”

              	
                7

              
	 	
                [1“Senior
                  Indebtedness” - definition to be inserted, if applicable]

              	
                
                  7

                

              
	 	
                “Special
                  Record Date”

              	
                
                  7

                

              
	 	
                “Stated
                  Interest Rate”

              	
                
                  7

                

              
	 	
                “Stated
                  Maturity”

              	
                
                  7

                

              
	 	
                “Tranche”

              	
                
                  7

                

              
	 	
                [2“Trust”]

              	
                
                  7

                

              
	 	
                [2“Trust
                  Agreement”]

              	
                
                  7

                

              
	 	
                “Trust
                  Indenture Act”

              	
                
                  7

                

              
	 	
                [2“Trust
                  Securities Guarantee”]

              	
                
                  7

                

              
	 	
                “Trustee”

              	
                
                  7

                

              
	 	
                “United
                  States”

              	
                8

              
	
                SECTION
                  102.

              	
                Compliance
                  Certificates and Opinions

              	
                8

              
	
                SECTION
                  103.

              	
                Form
                  of Documents Delivered to Trustee

              	
                8

              
	
                SECTION
                  104.

              	
                Acts
                  of Holders

              	
                9

              
	
                SECTION
                  105.

              	
                Notices,
                  etc. to Trustee and Company

              	
                10

              
	
                SECTION
                  106.

              	
                Notice
                  to Holders of Securities; Waiver

              	
                11

              
	
                SECTION
                  107.

              	
                Conflict
                  with Trust Indenture Act

              	
                12

              
	
                SECTION
                  108.

              	
                Effect
                  of Headings and Table of Contents

              	
                12

              
	
                SECTION
                  109.

              	
                Successors
                  and Assigns

              	
                12

              
	
                SECTION
                  110.

              	
                Separability
                  Clause

              	
                12

              
	
                SECTION
                  111.

              	
                Benefits
                  of Indenture

              	
                12

              
	
                SECTION
                  112.

              	
                Governing
                  Law

              	
                12

              
	
                SECTION
                  113.

              	
                Legal
                  Holidays

              	
                12

              
	
                 

                ARTICLE
                  TWO Security Forms

                 

              	
                 

                13

              
	
                SECTION
                  201.

              	
                Forms
                  Generally

              	
                13

              
	
                SECTION
                  202.

              	
                Form
                  of Trustee’s Certificate of Authentication

              	
                13

              
	
                 

                ARTICLE
                  THREE The Securities

                 

              	
                 

                14

              
	
                SECTION
                  301.

              	
                Amount
                  Unlimited; Issuable in Series

              	
                 14

              
	
                SECTION
                  302.

              	
                Denominations

              	
                 17

              
	
                SECTION
                  303.

              	
                Execution,
                  Authentication, Delivery and Dating

              	
                 17

              
	
                SECTION
                  304.

              	
                Temporary
                  Securities

              	
                 19

              
	
                SECTION
                  305.

              	
                Registration,
                  Registration of Transfer and Exchange

              	
                 20

              
	
                SECTION
                  306.

              	
                Mutilated,
                  Destroyed, Lost and Stolen Securities

              	
                 21

              
	
                SECTION
                  307.

              	
                Payment
                  of Interest; Interest Rights Preserved

              	
                 22

              
	
                SECTION
                  308.

              	
                Persons
                  Deemed Owners

              	
                 23

              
	
                SECTION
                  309.

              	
                Cancellation
                  by Security Registrar

              	
                 23

              
	
                SECTION
                  310.

              	
                Computation
                  of Interest

              	
                 23

              
	
                SECTION
                  311.

              	
                Payment
                  to Be in Proper Currency

              	
                23

              
	
                SECTION
                  312.

              	
                [1Extension
                  of Interest Payment]

              	
                 24

              
	
                SECTION
                  313.

              	
                [2Additional
                  Interest]

              	
                24

              
	
                 

                ARTICLE
                  FOUR Redemption Of Securities

                 

              	
                 

                24

              
	
                SECTION
                  401.

              	
                Applicability
                  of Article

              	
                 24

              
	
                SECTION
                  402.

              	
                Election
                  to Redeem; Notice to Trustee

              	
                 24

              
	
                SECTION
                  403.

              	
                Selection
                  of Securities to Be Redeemed

              	
                 24

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                SECTION
                  404.

              	
                Notice
                  of Redemption

              	
                 25

              
	
                SECTION
                  405.

              	
                Securities
                  Payable on Redemption Date

              	
                 26

              
	
                SECTION
                  406.

              	
                Securities
                  Redeemed in Part

              	
                 26

              
	
                 

                ARTICLE
                  FIVE Sinking Funds

                 

              	
                 

                27

              
	
                SECTION
                  501.

              	
                Applicability
                  of Article

              	
                 27

              
	
                SECTION
                  502.

              	
                Satisfaction
                  of Sinking Fund Payments with Securities

              	
                 27

              
	
                SECTION
                  503.

              	
                Redemption
                  of Securities for Sinking Fund

              	
                 27

              
	
                 

                ARTICLE
                  SIX Covenants

                 

              	
                 

                 

              
	
                SECTION
                  601.

              	
                Payment
                  of Principal, Premium and Interest

              	
                 28

              
	
                SECTION
                  602.

              	
                Maintenance
                  of Office or Agency

              	
                 28

              
	
                SECTION
                  603.

              	
                Money
                  for Securities Payments to Be Held in Trust

              	
                 29

              
	
                SECTION
                  604.

              	
                Corporate
                  Existence

              	
                 30

              
	
                SECTION
                  605.

              	
                Maintenance
                  of Properties

              	
                 30

              
	
                SECTION
                  606.

              	
                Annual
                  Officer’s Certificate as to Compliance

              	
                 30

              
	
                SECTION
                  607.

              	
                Waiver
                  of Certain Covenants

              	
                 30

              
	
                SECTION
                  608.

              	
                [2Restrictions
                  on Dividends and Debt Payments]

              	
                 31

              
	
                SECTION
                  609.

              	
                [2Maintenance
                  of Trust Existence]

              	
                 31

              
	
                SECTION
                  610.

              	
                [2Rights
                  of Holders of Preferred Securities]

              	
                 32

              
	
                SECTION
                  611.

              	
                [3Limitation
                  on Liens]

              	
                 32

              
	
                 

                ARTICLE
                  SEVEN Satisfaction And Discharge

                 

              	
                 

                34

              
	
                SECTION
                  701.

              	
                Satisfaction
                  and Discharge of Securities

              	
                 34

              
	
                SECTION
                  702.

              	
                Satisfaction
                  and Discharge of Indenture

              	
                 36

              
	
                SECTION
                  703.

              	
                Application
                  of Trust Money

              	
                 36

              
	
                 

                ARTICLE
                  EIGHT Events Of Default; Remedies

                 

              	
                 

                37

              
	
                SECTION
                  801.

              	
                Events
                  of Default

              	
                 37

              
	
                SECTION
                  802.

              	
                Acceleration
                  of Maturity; Rescission and Annulment

              	
                 38

              
	
                SECTION
                  803.

              	
                Collection
                  of Indebtedness and Suits for Enforcement by Trustee

              	
                 39

              
	
                SECTION
                  804.

              	
                Trustee
                  May File Proofs of Claim

              	
                 40

              
	
                SECTION
                  805.

              	
                Trustee
                  May Enforce Claims Without Possession of Securities

              	
                 40

              
	
                SECTION
                  806.

              	
                Application
                  of Money Collected

              	
                 41

              
	
                SECTION
                  807.

              	
                Limitation
                  on Suits

              	
                 41

              
	
                SECTION
                  808.

              	
                Unconditional
                  Right of Holders to Receive Principal, Premium and
                  Interest

              	
                 42

              
	
                SECTION
                  809.

              	
                Restoration
                  of Rights and Remedies

              	
                 42

              
	
                SECTION
                  810.

              	
                Rights
                  and Remedies Cumulative

              	
                 42

              
	
                SECTION
                  811.

              	
                Delay
                  or Omission Not Waiver

              	
                 42

              
	
                SECTION
                  812.

              	
                Control
                  by Holders of Securities

              	
                 42

              
	
                SECTION
                  813.

              	
                Waiver
                  of Past Defaults

              	
                 43

              
	
                SECTION
                  814.

              	
                Undertaking
                  for Costs

              	
                 43

              
	
                SECTION
                  815.

              	
                Waiver
                  of Usury, Stay or Extension Laws

              	
                 43

              
	
                 

                ARTICLE
                  NINE The Trustee

                 

              	
                 

                44

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                SECTION
                  901.

              	
                Certain
                  Duties and Responsibilities

              	
                 44

              
	
                SECTION
                  902.

              	
                Notice
                  of Defaults

              	
                 45

              
	
                SECTION
                  903.

              	
                Certain
                  Rights of Trustee

              	
                 45

              
	
                SECTION
                  904.

              	
                Not
                  Responsible for Recitals or Issuance of Securities

              	
                 46

              
	
                SECTION
                  905.

              	
                May
                  Hold Securities

              	
                 46

              
	
                SECTION
                  906.

              	
                Money
                  Held in Trust

              	
                 46

              
	
                SECTION
                  907.

              	
                Compensation
                  and Reimbursement

              	
                 47

              
	
                SECTION
                  908.

              	
                Disqualification;
                  Conflicting Interests

              	
                 47

              
	
                SECTION
                  909.

              	
                Corporate
                  Trustee Required; Eligibility

              	
                 48

              
	
                SECTION
                  910.

              	
                Resignation
                  and Removal; Appointment of Successor

              	
                 48

              
	
                SECTION
                  911.

              	
                Acceptance
                  of Appointment by Successor

              	
                 50

              
	
                SECTION
                  912.

              	
                Merger,
                  Conversion, Consolidation or Succession to Business

              	
                 51

              
	
                SECTION
                  913.

              	
                Preferential
                  Collection of Claims Against Company

              	
                 51

              
	
                SECTION
                  914.

              	
                Co-trustees
                  and Separate Trustees

              	
                 51

              
	
                SECTION
                  915.

              	
                Appointment
                  of Authenticating Agent

              	
                 52

              
	
                 

                ARTICLE
                  TEN Holders’ Lists And Reports By Trustee and Company

                 

              	
                 

                54

              
	
                SECTION
                  1001.

              	
                Lists
                  of Holders

              	
                 54

              
	
                SECTION
                  1002.

              	
                Reports
                  by Trustee and Company

              	
                 54

              
	
                 

                ARTICLE
                  ELEVEN Consolidation, Merger, Conveyance Or Other Transfer

                 

              	
                 

                55

              
	
                SECTION
                  1101.

              	
                Company
                  May Consolidate, etc., Only on Certain Terms

              	
                 55

              
	
                SECTION
                  1102.

              	
                Successor
                  Entity Substituted

              	
                 55

              
	
                SECTION
                  1103.

              	
                Limitation

              	
                 55

              
	
                 

                ARTICLE
                  TWELVE Supplemental Indentures

                 

              	
                 

                56

              
	
                SECTION
                  1201.

              	
                Supplemental
                  Indentures Without Consent of Holders

              	
                 56

              
	
                SECTION
                  1202.

              	
                Supplemental
                  Indentures With Consent of Holders

              	
                 57

              
	
                SECTION
                  1203.

              	
                Execution
                  of Supplemental Indentures

              	
                 59

              
	
                SECTION
                  1204.

              	
                Effect
                  of Supplemental Indentures

              	
                 59

              
	
                SECTION
                  1205.

              	
                Conformity
                  With Trust Indenture Act

              	
                 59

              
	
                SECTION
                  1206.

              	
                Reference
                  in Securities to Supplemental Indentures

              	
                 59

              
	
                SECTION
                  1207.

              	
                Modification
                  Without Supplemental Indenture

              	
                 59

              
	
                 

                ARTICLE
                  THIRTEEN Meetings Of Holders; Action Without Meeting

                 

              	
                 

                60

              
	
                SECTION
                  1301.

              	
                Purposes
                  for Which Meetings May Be Called

              	
                 60

              
	
                SECTION
                  1302.

              	
                Call,
                  Notice and Place of Meetings

              	
                 60

              
	
                SECTION
                  1303.

              	
                Persons
                  Entitled to Vote at Meetings

              	
                 60

              
	
                SECTION
                  1304.

              	
                Quorum;
                  Action

              	
                 61

              
	
                SECTION
                  1305.

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

              	
                 61

              
	
                SECTION
                  1306.

              	
                Counting
                  Votes and Recording Action of Meetings

              	
                 62

              
	
                SECTION
                  1307.

              	
                Action
                  Without Meeting

              	
                 63

              
	
                 

                [ARTICLE
                  FOURTEEN 1Subordination Of Securities

                 

              	
                 

                63

              
	
                SECTION
                  1401.

              	
                Securities
                  Subordinate to Senior Indebtedness of the Company

              	
                 63

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                SECTION
                  1402.

              	
                Payment
                  Over of Proceeds of Securities

              	
                 63

              
	
                SECTION
                  1403.

              	
                Disputes
                  with Holders of Certain Senior Indebtedness

              	
                 64

              
	
                SECTION
                  1404.

              	
                Subrogation

              	
                 65

              
	
                SECTION
                  1405.

              	
                Obligation
                  of the Company Unconditional

              	
                 65

              
	
                SECTION
                  1406.

              	
                Priority
                  of Senior Indebtedness Upon Maturity

              	
                 66

              
	
                SECTION
                  1407.

              	
                Trustee
                  as Holder of Senior Indebtedness

              	
                 66

              
	
                SECTION
                  1408.

              	
                Notice
                  to Trustee to Effectuate Subordination

              	
                 66

              
	
                SECTION
                  1409.

              	
                Modification,
                  Extension, etc. of Senior Indebtedness

              	
                 67

              
	
                SECTION
                  1410.

              	
                Trustee
                  Has No Fiduciary Duty to Holders of Senior Indebtedness

              	
                 67

              
	
                SECTION
                  1411.

              	
                Paying
                  Agents Other Than the Trustee

              	
                 67

              
	
                SECTION
                  1412.

              	
                Rights
                  of Holders of Senior Indebtedness Not Impaired

              	
                 67

              
	
                SECTION
                  1413.

              	
                Effect
                  of Subordination Provisions; Termination]

              	
                 67

              
	
                 

                ARTICLE
                  FIFTEEN Immunity Of Incorporators, Stockholders, Officers And
                  Directors

                 

              	
                 

                68

              
	
                SECTION
                  1501.

              	
                Liability
                  Solely Corporate

              	
                 68

              

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    FPL
      GROUP, INC.

     

    Reconciliation
      and tie between Trust Indenture Act of 1939

    and
      Indenture, dated as of ________, 20__

     

    
      
        	
                Trust Indenture Act
                  Section

                 

              	
                Indenture
                  Section

              
	
                §310

              	
                (a)(1)

              	 	
                909

              
	 	
                (a)(2)

              	 	
                909

              
	 	
                (a)(3)

              	 	
                914(b)

              
	 	
                (a)(4)

              	 	
                Not
                  Applicable

              
	 	
                (b)

              	 	
                908

              
	 	 	 	
                910

              
	
                §311

              	
                (a)

              	 	
                913

              
	 	
                (b)

              	 	
                913

              
	 	
                (c)

              	 	
                913

              
	
                §312

              	
                (a)

              	 	
                1001

              
	 	
                (b)

              	 	
                1001

              
	 	
                (c)

              	 	
                1001

              
	
                §313

              	
                (a)

              	 	
                1002

              
	 	
                (b)

              	 	
                1002

              
	 	
                (c)

              	 	
                1002

              
	 	
                (d)

              	 	
                1002

              
	
                §314

              	
                (a)

              	 	
                1002

              
	 	
                (a)(4)

              	 	
                606

              
	 	
                (b)

              	 	
                Not
                  Applicable

              
	 	
                (c)(1)

              	 	
                102

              
	 	
                (c)(2)

              	 	
                102

              
	 	
                (c)(3)

              	 	
                Not
                  Applicable

              
	 	
                (d)

              	 	
                Not
                  Applicable

              
	 	
                (e)

              	 	
                102

              
	
                §315

              	
                (a)

              	 	
                901

              
	 	 	 	
                903

              
	 	
                (b)

              	 	
                902

              
	 	
                (c)

              	 	
                901

              
	 	
                (d)

              	 	
                901

              
	 	
                (e)

              	 	
                814

              
	
                §316

              	
                (a)

              	 	
                812

              
	 	 	 	
                813

              
	 	
                (a)(1)(A)

              	 	
                802

              
	 	 	 	
                812

              
	 	
                (a)(1)(B)

              	 	
                813

              
	 	
                (a)(2)

              	 	
                Not
                  Applicable

              
	 	
                (b)

              	 	
                808

              
	
                §317

              	
                (a)(1)

              	 	
                803

              
	 	
                (a)(2)

              	 	
                804

              
	 	
                (b)

              	 	
                603

              
	
                §318

              	
                (a)

              	 	
                107

              

      

    

    

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

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SUBORDINATED
      INDENTURE,
      dated
      as of _______, 20__, among FPL
      Group, Inc., a
      corporation duly organized and existing under the laws of the State of Florida
      (herein called the “Company”), having its principal office at 700 Universe
      Boulevard, Juno Beach, Florida 33408, and The
      Bank of New York,
      a New
      York banking corporation having its principal corporate trust office at 101
      Barclay Street, Floor 8W, New York, New York 10286, as Trustee (herein called
      the “Trustee”).

     

    RECITAL
      OF THE COMPANY

     

    The
      Company has duly authorized the execution and delivery of this Indenture to
      provide for the issuance from time to time of its unsecured [1subordinated]
      debentures, notes or other evidences of indebtedness (herein called the
“Securities”), in an unlimited aggregate principal amount to be issued in one or
      more series as contemplated herein; and all acts necessary to make this
      Indenture a valid agreement of the Company, in accordance with its terms, have
      been performed.

     

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

     

    NOW,
      THEREFORE, THIS INDENTURE WITNESSETH:

     

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

     

    
      ARTICLE
        ONE

       

      Definitions
        And Other Provisions Of General Application

       

      
        	
                SECTION
                  101. 

              	
                Definitions.

              

      

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          -2-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

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

       

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

       

      “Discount
        Security” means
        any
        Security which provides for an amount less than the principal amount thereof
        to
        be due and payable upon a declaration of acceleration of the Maturity thereof
        pursuant to Section 802. The term “interest”
with
        respect to a Discount Security means interest, if any, borne by such Security
        at
        a Stated Interest Rate.

       

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

       

      “Eligible
        Obligations” means:

       

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

       

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

       

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

       

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

       

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

       

      “Government
        Obligations” means:

       

      
        
          
          

        

        
          -3-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

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

       

      “Maturity,”
        when
        used
        with respect to any Security, means the date on which the principal of such
        Security or an installment of principal becomes due and payable as provided
        in
        such Security or in this Indenture, whether at the Stated Maturity, by
        declaration of acceleration, upon call for redemption or otherwise.

       

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

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          -4-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          -5-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          -6-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

      [1“Senior
        Indebtedness” -
        definition to be inserted, if applicable]

       

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

       

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

       

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

       

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

       

      [2“Trust”
        means
        FPL
        Group Trust _, a statutory trust formed under the laws of the State of Delaware,
        or any other trust designated pursuant to Section 301 hereof or any permitted
        successor under the Trust Agreement pertaining to such Trust.]

       

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

       

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

       

      [2“Trust
        Securities Guarantee” means
        the
        Preferred Trust Securities Guarantee Agreement between the Company, as
        guarantor, and a guarantee trustee for the benefit of the holders of Preferred
        Securities issued by such Trust.]

       

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

       

      
        
          
          

        

        
          -7-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

      
        	
                SECTION
                  102. 

              	
                Compliance
                  Certificates and Opinions.

              

      

       

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

       

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

       

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

       

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

       

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

       

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

       

      
        	
                SECTION
                  103. 

              	
                Form
                  of Documents Delivered to
                  Trustee.

              

      

       

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

       

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

       

      
        
          
          

        

        
          -8-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

      
        	
                SECTION
                  104. 

              	
                Acts
                  of Holders.

              

      

       

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

       

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

       

      
        
          
          

        

        
          -9-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

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

       

      
        	
                SECTION
                  105. 

              	
                Notices,
                  etc. to Trustee and
                  Company.

              

      

       

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

       

      
        
          
          

        

        
          -10-

          
            

          

        

        
          
          

        

      

       

      If
        to the
        Trustee, to:

       

      The
        Bank
        of New York

      101
        Barclay Street, Floor 8W

      New
        York,
        New York 10286

       

      Attention:
        

      Telephone:

      Facsimile:
        

       

      With
        a
        copy to:

       

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

      10161
        Centurion Parkway

      Jacksonville,
        FL 32256

       

      Attention:
        

      Telephone:
        

      Facsimile:
        

       

      If
        to the
        Company, to:

       

      FPL
        Group, Inc.

      700
        Universe Boulevard

      Juno
        Beach, Florida 33408

       

      Attention:
        Treasurer

      Telephone:
        

      Facsimile:
        

       

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

       

      
        	
                SECTION
                  106. 

              	
                Notice
                  to Holders of Securities;
                  Waiver.

              

      

       

      Except
        as
        otherwise expressly provided herein, where this Indenture provides for notice
        to
        Holders of any event, such notice shall be sufficiently given, and shall
        be
        deemed given, to Holders if in writing and mailed, first-class postage prepaid,
        to each Holder affected by such event, at the address of such Holder as it
        appears in the Security Register, not later than the latest date, and not
        earlier than the earliest date, prescribed for the giving of such
        notice.

       

      In
        case
        by reason of the suspension of regular mail service or by reason of any other
        cause it shall be impracticable to give such notice to Holders by mail, then
        such notification as shall be made with the approval of the Trustee shall
        constitute a sufficient notification for every purpose hereunder. In any
        case
        where notice to Holders is given by mail, neither the failure to mail such
        notice, nor any defect in any notice so mailed, to any particular Holder
        shall
        affect the sufficiency of such notice with respect to other
        Holders.

       

      
        
          
          

        

        
          -11-

          
            

          

        

        
          
          

        

      

       

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

       

      
        	
                SECTION
                  107. 

              	
                Conflict
                  with Trust Indenture Act.

              

      

       

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

       

      
        	
                SECTION
                  108. 

              	
                Effect
                  of Headings and Table of
                  Contents.

              

      

       

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

       

      
        	
                SECTION
                  109. 

              	
                Successors
                  and Assigns.

              

      

       

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

       

      
        	
                SECTION
                  110. 

              	
                Separability
                  Clause.

              

      

       

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

       

      
        	
                SECTION
                  111. 

              	
                Benefits
                  of Indenture.

              

      

       

      Nothing
        in this Indenture or the Securities, express or implied, shall give to any
        Person, other than the parties hereto, their successors hereunder, [3and]
        the
        Holders [1and,
        so
        long as the notice described in Section 1413 hereof has not been given, the
        holders of Senior Indebtedness], any benefit or any legal or equitable right,
        remedy or claim under this Indenture[2,
        provided, however, that for so long as any Preferred Securities remain
        outstanding, the holders of such Preferred Securities, subject to certain
        limitations set forth in this Indenture, may enforce the Company’s obligations
        hereunder, directly against the Company, as third party beneficiaries of
        this
        Indenture without proceeding against the Trust issuing such Preferred
        Securities].

       

      
        	
                SECTION
                  112. 

              	
                Governing
                  Law.

              

      

       

      This
        Indenture and the Securities shall be governed by and construed in accordance
        with the laws of the State of New York, without regard to conflict of laws
        principles thereunder, except to the extent that the law of any other
        jurisdiction shall be mandatorily applicable.

       

      
        	
                SECTION
                  113. 

              	
                Legal
                  Holidays.

              

      

       

      In
        any
        case where any Interest Payment Date, Redemption Date or Stated Maturity
        of any
        Security shall not be a Business Day at any Place of Payment, then
        (notwithstanding any other provision of this Indenture or of the Securities
        other than a provision in Securities of any series, or any Tranche

       

      
        
          
          

        

        
          -12-

          
            

          

        

        
          
          

        

      

       

      thereof,
        or in an indenture supplemental hereto, or in the Board Resolution or Officer’s
        Certificate which establishes the terms of the Securities of such series
        or
        Tranche, which specifically states that such provision shall apply in lieu
        of
        this Section) payment of interest or principal and premium, if any, need
        not be
        made at such Place of Payment on such date, but may be made on the next
        succeeding Business Day at such Place of Payment, [except that if such Business
        Day is in the next succeeding calendar year, such payment shall be made on
        the
        immediately preceding Business Day, in each case] with the same force and
        effect, and in the same amount, as if made on the Interest Payment Date or
        Redemption Date, or at the Stated Maturity, as the case may be, and, if such
        payment is made or duly provided for on such Business Day, no interest shall
        accrue on the amount so payable for the period from and after such Interest
        Payment Date, Redemption Date or Stated Maturity, as the case may be, to
        such
        Business Day.

       

      ARTICLE
        TWO

       

      Security
        Forms

       

      
        	
                SECTION
                  201. 

              	
                Forms
                  Generally.

              

      

       

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

       

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

       

      
        	
                SECTION
                  202. 

              	
                Form
                  of Trustee’s Certificate of
                  Authentication.

              

      

       

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

       

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

       

      
        	 	
                THE
                  BANK OF NEW YORK, as Trustee

                 

                By: 
                  
                  

                

                Authorized
                  Signatory

              

      

       

      
        
          
          

        

        
          -13-

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        THREE

       

      The
        Securities

       

      
        	
                SECTION
                  301. 

              	
                Amount
                  Unlimited; Issuable in
                  Series.

              

      

       

      The
        aggregate principal amount of Securities which may be authenticated and
        delivered under this Indenture is unlimited [2;
        provided, however, that all Securities shall be issued to a Trust to evidence
        the acquisition of Securities by a Trust with the proceeds of the issuance
        of
        Preferred Securities and Common Securities of such Trust].

       

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

       

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

       

      (b)
         any
        limit
        upon the aggregate principal amount of the Securities of such series which
        may
        be authenticated and delivered under this Indenture (except for Securities
        authenticated and delivered upon registration of transfer of, or in exchange
        for, or in lieu of, other Securities of such series pursuant to Section 304,
        305, 306, 406 or 1206 and, except for any Securities which, pursuant to Section
        303, are deemed never to have been authenticated and delivered
        hereunder);

       

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

       

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

       

      (e)
         the
        rate
        or rates at which the Securities of such series, or any Tranche thereof,
        shall
        bear interest, if any (including the rate or rates at which overdue principal
        shall bear interest, if different from the rate or rates at which such
        Securities shall bear interest prior to Maturity, and, if applicable, the
        rate
        or rates at which overdue premium or interest shall bear interest, if any),
        or
        any formulary or other method or other means by which such rate or rates
        shall
        be determined, by reference to an index or other fact or event ascertainable
        outside of this Indenture or otherwise; the date or dates from which such
        interest shall accrue; the Interest Payment Dates on which such interest
        shall
        be payable and the Regular Record Date, if any, for the interest payable
        on such
        Securities on any Interest Payment Date; [1the
        right
        of the Company, if any, to extend the interest payment periods and the duration
        of any such extension as contemplated by Section 312;] and the basis of
        computation of interest, if other than as provided in Section 310;

       

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

       

      
        
          
          

        

        
          -14-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

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

       

      (k)
         if
        the
        principal of or premium, if any, or interest, if any, on the Securities of
        such
        series, or any Tranche thereof, are to be payable, at the election of the
        Company or a Holder thereof, in a coin or currency other than that in which
        the
        Securities are stated to be payable, the period or periods within which,
        and the
        terms and conditions upon which, such election may be made;

       

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

       

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

       

      
        
          
          

        

        
          -15-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

      (w)
         [2the
        designation of the Trust to which Securities of such series are to be
        issued;]

       

      (x)
         [2the
        terms, if any, relating to any Additional Interest that may limit or restrict
        payments of Additional Interest;] 

       

      (y)
         [3any
        non-applicability of Section [608] [Limitation on Liens] to the Securities
        of
        such series or any exceptions or modifications of Section [608] with respect
        to
        the Securities of such series;] 

       

      
        
          
          

        

        
          -16-

          
            

          

        

        
          
          

        

      

       

      (z)
         [1any
        modifications of subordination provisions contained in Article Fourteen with
        respect to Securities of such series;] and

       

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

       

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

       

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

       

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

       

      
        	
                SECTION
                  302. 

              	
                Denominations.

              

      

       

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

       

      
        	
                SECTION
                  303. 

              	
                Execution,
                  Authentication, Delivery and
                  Dating.

              

      

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          -17-

          
            

          

        

        
          
          

        

      

       

      (b)
         a
        Company
        Order requesting the authentication and delivery of such Securities and to
        the
        extent that the terms of such Securities shall not have been established
        in an
        indenture supplemental hereto or in a Board Resolution, or in an Officer’s
        Certificate pursuant to a supplemental indenture or Board Resolution, all
        as
        contemplated by Sections 201 and 301, either (i) establishing such terms
        or (ii)
        in the case of Securities of a series subject to a Periodic Offering, specifying
        procedures, acceptable to the Trustee, by which such terms are to be established
        (which procedures may provide, to the extent acceptable to the Trustee, for
        authentication and delivery pursuant to oral or electronic instructions from
        the
        Company or any agent or agents thereof, which oral instructions are to be
        promptly confirmed electronically or in writing), in either case in accordance
        with the instrument or instruments delivered pursuant to clause (a)
        above;

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

      (y) that
        such
        Securities when (1) executed by the Company, (2) authenticated and delivered
        by
        the Trustee in accordance with this Indenture, (3) issued and delivered by
        the
        Company in the manner and subject to any conditions specified in such Opinion
        of
        Counsel and (4) in the case of Securities, paid for, all as contemplated
        by and
        in accordance with the aforesaid Company Order or Orders or specified procedures
        

       

      
        
          
          

        

        
          -18-

          
            

          

        

        
          
          

        

      

       

      referred
        to in paragraph (x) above, as the case may be, will have been duly issued
        under
        this Indenture and will constitute valid and legally binding obligations
        of the
        Company, entitled to the benefits provided by the Indenture, and enforceable
        in
        accordance with their terms, subject, as to enforcement, to laws relating
        to or
        affecting generally the enforcement of creditors’ rights, including, without
        limitation, bankruptcy and insolvency laws and to general principles of equity
        (regardless of whether such enforceability is considered in a proceeding
        in
        equity or at law).

       

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

       

      If
        the
        forms or terms of the Securities of any series have been established by or
        pursuant to a Board Resolution or an Officer’s Certificate as permitted by
        Sections 201 or 301, the Trustee shall not be required to authenticate such
        Securities if the issuance of such Securities pursuant to this Indenture
        will
        materially or adversely affect the Trustee’s own rights, duties or immunities
        under the Securities and this Indenture or otherwise in a manner which is
        not
        reasonably acceptable to the Trustee.

       

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

       

      Unless
        otherwise specified as contemplated by Section 301 with respect to any series
        of
        Securities, or any Tranche thereof, no Security shall be entitled to any
        benefit
        under this Indenture or be valid or obligatory for any purpose unless there
        appears on such Security a certificate of authentication substantially in
        the
        form provided for herein executed by the Trustee or an Authenticating Agent
        by
        manual signature of an authorized officer hereof, and such certificate upon
        any
        Security shall be conclusive evidence, and the only evidence, that such Security
        has been duly authenticated and delivered hereunder and is entitled to the
        benefits of this Indenture. Notwithstanding the foregoing, if any Security
        shall
        have been authenticated and delivered hereunder to the Company, or any Person
        acting on its behalf, but shall never have been issued and sold by the Company,
        and the Company shall deliver such Security to the Security Registrar for
        cancellation as provided in Section 309 together with a written statement
        (which
        need not comply with Section 102 and need not be accompanied by an Officer’s
        Certificate and an Opinion of Counsel) stating that such Security has never
        been
        issued and sold by the Company, for all purposes of this Indenture such Security
        shall be deemed never to have been authenticated and delivered hereunder
        and
        shall never be entitled to the benefits hereof.

       

      
        	
                SECTION
                  304. 

              	
                Temporary
                  Securities.

              

      

       

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

       

      
        
          
          

        

        
          -19-

          
            

          

        

        
          
          

        

      

       

      however,
        that temporary Securities need not recite specific redemption, sinking fund,
        conversion or exchange provisions.

       

      Unless
        otherwise specified as contemplated by Section 301 with respect to the
        Securities of any series, or any Tranche thereof, after the preparation of
        definitive Securities of such series or Tranche, the temporary Securities
        of
        such series or Tranche shall be exchangeable, without charge to the Holder
        thereof, for definitive Securities of such series or Tranche upon surrender
        of
        such temporary Securities at the office or agency of the Company maintained
        pursuant to Section 602 in a Place of Payment for such Securities. Upon such
        surrender of temporary Securities, the Company shall, except as aforesaid,
        execute and the Trustee shall authenticate and deliver in exchange therefor
        definitive Securities of the same series and Tranche, of authorized
        denominations and of like tenor and aggregate principal amount.

       

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

       

      
        	
                SECTION
                  305. 

              	
                Registration,
                  Registration of Transfer and
                  Exchange.

              

      

       

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

       

      Except
        as
        otherwise specified as contemplated by Section 301 with respect to the
        Securities of any series, or any Tranche thereof, upon surrender for
        registration of transfer of any Security of such series or Tranche at the
        office
        or agency of the Company maintained pursuant to Section 602 in a Place of
        Payment for such series or Tranche, the Company shall execute, and the Trustee
        shall authenticate and deliver, in the name of the designated transferee
        or
        transferees, one or more new Securities of the same series and Tranche, of
        authorized denominations and of like tenor and aggregate principal
        amount.

       

      Except
        as
        otherwise specified as contemplated by Section 301 with respect to the
        Securities of any series, or any Tranche thereof, any Security of such series
        or
        Tranche may be exchanged at the option of the Holder, for one or more new
        Securities of the same series and Tranche, of authorized denominations and
        of
        like tenor and aggregate principal amount, upon surrender of the Securities
        to
        be exchanged at any such office or agency. Whenever any Securities are so
        surrendered for exchange, the Company shall execute, and the Trustee shall
        authenticate and deliver, the Securities which the Holder making the exchange
        is
        entitled to receive.

       

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

       

      
        
          
          

        

        
          -20-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

      
        	
                SECTION
                  306. 

              	
                Mutilated,
                  Destroyed, Lost and Stolen
                  Securities.

              

      

       

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

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          -21-

          
            

          

        

        
          
          

        

      

       

      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.

       

      
        	
                SECTION
                  307. 

              	
                Payment
                  of Interest; Interest Rights
                  Preserved.

              

      

       

      Unless
        otherwise specified as contemplated by Section 301 with respect to the
        Securities of any series, or any Tranche thereof, interest on any Security
        which
        is payable, and is punctually paid or duly provided for, on any Interest
        Payment
        Date shall be paid to the Person in whose name that Security (or one or more
        Predecessor Securities) is registered at the close of business on the Regular
        Record Date for such interest.

       

      [1Subject
        to Section 312, any] [Any] interest on any Security of any series which is
        payable, but is not punctually paid or duly provided for, on any Interest
        Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be
        payable to the Holder on the related Regular Record Date by virtue of having
        been such Holder, and such Defaulted Interest may be paid by the Company,
        at its
        election in each case, as provided in clause (a) or (b) below:

       

      (a)
         The
        Company may elect to make payment of any Defaulted Interest to the Persons
        in
        whose names the Securities of such series (or their respective Predecessor
        Securities) are registered at the close of business on a date (herein called
        a
“Special Record Date”) for the payment of such Defaulted Interest, which shall
        be fixed in the following manner. The Company shall notify the Trustee in
        writing of the amount of Defaulted Interest proposed to be paid on each Security
        of such series and the date of the proposed payment, and at the same time
        the
        Company shall deposit with the Trustee an amount of money equal to the aggregate
        amount proposed to be paid in respect of such Defaulted Interest or shall
        make
        arrangements satisfactory to the Trustee for such deposit prior to the date
        of
        the proposed payment, such money when deposited to be held in trust for the
        benefit of the Persons entitled to such Defaulted Interest as in this clause
        provided. Thereupon the Trustee shall fix a Special Record Date for the payment
        of such Defaulted Interest which shall be not more than 15 days and not less
        than 10 days prior to the date of the proposed payment and not less than
        10 days
        after the receipt by the Trustee of the notice of the proposed payment. The
        Trustee shall promptly notify the Company of such Special Record Date and,
        in
        the name and at the expense of the Company, shall promptly cause notice of
        the
        proposed payment of such Defaulted Interest and the Special Record Date therefor
        to be mailed, first-class postage prepaid, to each Holder of Securities of
        such
        series at the address of such Holder as it appears in the Security Register,
        not
        less than 10 days prior to such Special Record Date. Notice of the proposed
        payment of such Defaulted Interest and the Special Record Date therefor having
        been so mailed, such Defaulted Interest shall be paid to the Persons in whose
        names the Securities of such series (or their respective Predecessor Securities)
        are registered at the close of business on such Special Record
        Date.

       

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

       

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

       

      
        
          
          

        

        
          -22-

          
            

          

        

        
          
          

        

      

       

      
        	
                SECTION
                  308. 

              	
                Persons
                  Deemed Owners.

              

      

       

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

       

      
        	
                SECTION
                  309. 

              	
                Cancellation
                  by Security Registrar.

              

      

       

      All
        Securities surrendered for payment, redemption, registration of transfer
        or
        exchange or credit against any sinking fund payment shall, if surrendered
        to any
        Person other than the Security Registrar, be delivered to the Security Registrar
        and, if not theretofore canceled, shall be promptly canceled by the Security
        Registrar. The Company may at any time deliver to the Security Registrar
        for
        cancellation any Securities previously authenticated and delivered hereunder
        which the Company may have acquired in any manner whatsoever or which the
        Company shall not have issued and sold, and all Securities so delivered shall
        be
        promptly canceled by the Security Registrar. No Securities shall be
        authenticated in lieu of or in exchange for any Securities canceled as provided
        in this Section, except as expressly permitted by this Indenture. All canceled
        Securities held by the Security Registrar shall be disposed of in accordance
        with the customary procedures of the Security Registrar as at the time of
        disposition shall be in effect, and the Security Registrar shall promptly
        deliver a certificate of disposition to the Trustee and the Company unless,
        by a
        Company Order delivered to the Security Registrar and the Trustee, the Company
        shall direct that canceled Securities be returned to it. The Security Registrar
        shall promptly deliver evidence of any cancellation of a Security in accordance
        with this Section 309 to the Trustee and the Company.

       

      
        	
                SECTION
                  310. 

              	
                Computation
                  of Interest.

              

      

       

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

       

      
        	
                SECTION
                  311. 

              	
                Payment
                  to Be in Proper Currency.

              

      

       

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

       

      
        
          
          

        

        
          -23-

          
            

          

        

        
          
          

        

      

       

      
        	
                SECTION
                  312. 

              	
                [1Extension
                  of Interest Payment.

              

      

       

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

       

      
        	
                SECTION
                  313. 

              	
                [2Additional
                  Interest.

              

      

       

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

       

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

       

      ARTICLE
        FOUR

       

      Redemption
        Of Securities

       

      
        	
                SECTION
                  401. 

              	
                Applicability
                  of Article.

              

      

       

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

       

      
        	
                SECTION
                  402. 

              	
                Election
                  to Redeem; Notice to
                  Trustee.

              

      

       

      The
        election of the Company to redeem any Securities shall be evidenced by a
        Board
        Resolution or an Officer’s Certificate. The Company shall, at least 45 days
        prior to the Redemption Date fixed by the Company (unless a shorter notice
        shall
        be satisfactory to the Trustee), notify the Trustee [2and
        in
        the case of Securities of a series held by a Trust, the Property Trustee
        under
        the related Trust Agreement], in writing of such Redemption Date and of the
        principal amount of such Securities to be redeemed. In the case of any
        redemption of Securities (a) prior to the expiration of any restriction on
        such
        redemption provided in the terms of such Securities or elsewhere in this
        Indenture or (b) pursuant to an election of the Company which is subject
        to a
        condition specified in the terms of such Securities or elsewhere in this
        Indenture, the Company shall furnish the Trustee with an Officer’s Certificate
        evidencing compliance with such restriction or condition.

       

      
        	
                SECTION
                  403. 

              	
                Selection
                  of Securities to Be
                  Redeemed.

              

      

       

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

       

      
        
          
          

        

        
          -24-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

      
        	
                SECTION
                  404. 

              	
                Notice
                  of Redemption.

              

      

       

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

       

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

       

      (a)
         the
        Redemption Date,

       

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

       

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

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          -25-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

      
        	
                SECTION
                  405. 

              	
                Securities
                  Payable on Redemption
                  Date.

              

      

       

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

       

      
        	
                SECTION
                  406. 

              	
                Securities
                  Redeemed in Part.

              

      

       

      Upon
        the
        surrender of any Security which is to be redeemed only in part at a Place
        of
        Payment therefor (with, if the Company or the Trustee so requires, due
        endorsement by, or a written instrument of transfer in form satisfactory
        to the
        Company and the Trustee duly executed by, the Holder thereof or his attorney
        duly authorized in writing), the Company shall execute, and the Trustee shall
        authenticate and deliver to the Holder of such Security, without service
        charge,
        a new Security or Securities of the same series and Tranche, of any authorized
        denomination requested by such Holder and of like tenor and in aggregate
        principal amount equal to and in exchange for the unredeemed portion of the
        principal of the Security so surrendered.

       

      
        
          
          

        

        
          -26-

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        FIVE

       

      Sinking
        Funds

       

      
        	
                SECTION
                  501. 

              	
                Applicability
                  of Article.

              

      

       

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

       

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

       

      
        	
                SECTION
                  502. 

              	
                Satisfaction
                  of Sinking Fund Payments with
                  Securities.

              

      

       

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

       

      
        	
                SECTION
                  503. 

              	
                Redemption
                  of Securities for Sinking
                  Fund.

              

      

       

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

       

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

       

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

       

      (c)
         the
        aggregate sinking fund payment;

       

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

       

      
        
          
          

        

        
          -27-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

      ARTICLE
        SIX

       

      Covenants

       

      
        	
                SECTION
                  601. 

              	
                Payment
                  of Principal, Premium and
                  Interest.

              

      

       

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

       

      
        	
                SECTION
                  602. 

              	
                Maintenance
                  of Office or Agency.

              

      

       

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

       

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

       

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

       

      
        
          
          

        

        
          -28-

          
            

          

        

        
          
          

        

      

       

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

       

      
        	
                SECTION
                  603. 

              	
                Money
                  for Securities Payments to Be Held in
                  Trust.

              

      

       

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

       

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

       

      The
        Company shall cause each Paying Agent for the Securities of any series, or
        any
        Tranche thereof, other than the Company or the Trustee, to execute and deliver
        to the Trustee an instrument in which such Paying Agent shall agree with
        the
        Trustee, subject to the provisions of this Section, that such Paying Agent
        shall:

       

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

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          -29-

          
            

          

        

        
          
          

        

      

       

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

       

      
        	
                SECTION
                  604. 

              	
                Corporate
                  Existence.

              

      

       

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

       

      
        	
                SECTION
                  605. 

              	
                Maintenance
                  of Properties.

              

      

       

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

       

      
        	
                SECTION
                  606. 

              	
                Annual
                  Officer’s Certificate as to
                  Compliance.

              

      

       

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

       

      
        	
                SECTION
                  607. 

              	
                Waiver
                  of Certain Covenants.

              

      

       

      The
        Company may omit in any particular instance to comply with any term, provision
        or condition set forth in (a) Sections 602 [2,
        608,
        609] or any additional covenant or restriction specified with respect to
        the
        Securities of any series, or any Tranche thereof, as contemplated by Section
        301
        or by clause (b) of Section 1201 if before the time for such compliance the
        Holders of a majority in aggregate principal amount of the Outstanding
        Securities of all series and Tranches with respect to which compliance with
        Section 602 [2,
        608,
        609] or such additional covenant or restriction is to be omitted, considered
        as
        one class, shall, by Act of such Holders, either waive such compliance in
        such
        instance or generally waive compliance with such term, provision or condition
        and (b) Section 604, 605 or Article Eleven if before the time for such
        compliance the Holders of a majority in aggregate principal amount of Securities
        Outstanding under this Indenture shall, by Act of such Holders, either waive
        such compliance in such instance or generally waive compliance with such
        term,
        provision or condition; but, in the case of (a) or (b), no such waiver shall
        extend to or affect such term, provision or condition except to the extent
        so
        expressly waived, and, until such waiver shall become effective, the obligations
        of the Company and the duties of the Trustee in respect of any such term,
        provision or condition shall remain in full force and 

       

      
        
          
          

        

        
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      effect
        [2;
        provided, however, so long as a Trust holds Securities of any series, such
        Trust
        may not waive compliance or waive any default in compliance by the Company
        with
        any covenant or other term contained in this Indenture or the Securities
        of such
        series without the approval of the holders of a majority (or such greater
        percentage as shall be required by the Trust Agreement pertaining to such
        Trust)
        in aggregate liquidation preference of the outstanding Preferred Securities
        issued by such Trust affected, obtained as provided in the Trust Agreement
        pertaining to such Trust].

       

      
        	
                SECTION
                  608. 

              	
                [2Restrictions
                  on Dividends and Debt
                  Payments.

              

      

       

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

       

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

       

      
        	
                SECTION
                  609. 

              	
                [2Maintenance
                  of Trust Existence.

              

      

       

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

       

      
        
          
          

        

        
          -31-

          
            

          

        

        
          
          

        

      

       

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

       

      
        	
                SECTION
                  610. 

              	
                [2Rights
                  of Holders of Preferred Securities.

              

      

       

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

       

      SECTION
        611.          
  [3Limitation
        on Liens.

       

      (a)
         Except
        as
        otherwise specified as contemplated by Section 301 for Securities of any
        series
        or Tranche, so long as any Securities of any series are Outstanding, the
        Company
        will not pledge, mortgage, hypothecate or grant a security interest in, or
        permit any mortgage, pledge, security interest or other lien upon, any capital
        stock of any Subsidiary (hereinafter defined) which capital stock is now
        or
        hereafter directly owned by the Company, to secure any Indebtedness (hereinafter
        defined) without concurrently making effective provision whereby the Outstanding
        Securities shall (so long as such other Indebtedness shall be so secured)
        be
        equally and ratably secured with any and all such other Indebtedness and
        any
        other Indebtedness similarly entitled to be equally and ratably secured;
        provided, however, that this restriction shall not apply to nor prevent the
        creation or existence of:

       

      (1)
         any
        mortgage, pledge, security interest, lien or encumbrance upon any such capital
        stock created at the time of the acquisition of such capital stock by the
        Company, or within 270 days after such time, to secure all or a portion of
        the
        purchase price for such capital stock;

       

      (2)
         any
        mortgage, pledge, security interest, lien or encumbrance upon any such capital
        stock existing thereon at the time of the acquisition thereof by the Company
        (whether or not the obligations secured thereby are assumed by the Company
        and
        whether or not such mortgage, pledge, security interest, lien or encumbrance
        was
        created in contemplation of such acquisition);

       

      (3)
         any
        extension, renewal or replacement of any mortgage, pledge, security interest,
        lien or encumbrance permitted by Subsection (1) or (2) above, or of any
        Indebtedness secured thereby; provided that the principal amount of Indebtedness
        so secured immediately following the time of such extension, renewal or
        replacement shall not exceed the principal amount of Indebtedness so secured
        immediately preceding the time of such extension, renewal or replacement,
        and
        that such extension, renewal or replacement mortgage, pledge, security interest,
        lien or encumbrance shall be limited to no more than the same proportion
        of all
        shares of capital stock as were covered by the mortgage, pledge, security
        interest, lien or encumbrance that was extended, renewed or replaced;
        or

       

      
        
          
          

        

        
          -32-

          
            

          

        

        
          
          

        

      

       

      (4)
         any
        judgment, levy, execution, attachment or other similar lien arising in
        connection with court proceedings, provided that either

       

      (ii) the
        execution or enforcement of each such lien is effectively stayed within __
        days
        after entry of the corresponding judgment (or the corresponding judgment
        has
        been discharged within such __ day period) and the claims secured thereby
        are
        being contested in good faith by appropriate proceedings timely commenced
        and
        diligently prosecuted;

       

      (iii) the
        payment of each such lien is covered in full by insurance and the insurance
        company has not denied or contested coverage thereof; or

       

      (iv) so
        long
        as each such lien is adequately bonded, any appropriate legal proceedings
        that
        may have been duly initiated for the review of the corresponding judgment,
        decree or order shall not have been fully terminated or the period within
        which
        such proceedings may be initiated shall not have expired.

       

      For
        purposes of this Section [611], “Indebtedness” means all indebtedness, whether
        or not represented by bonds, debentures, notes or other securities, created
        or
        assumed by the Company for the repayment of money borrowed. All indebtedness
        for
        money borrowed secured by a lien upon capital stock of any Subsidiary owned
        by
        the Company and upon which indebtedness for money borrowed the Company
        customarily pays interest, although the Company has not assumed or become
        liable
        for the payment of such indebtedness for money borrowed, shall for purposes
        of
        this Section [611] be deemed to be Indebtedness of the Company. All indebtedness
        of others for money borrowed, which is guaranteed as to payment of principal
        by
        the Company or in effect guaranteed by the Company through a contingent
        agreement to purchase such indebtedness for money borrowed, shall for purposes
        of this Section [611] be deemed to be Indebtedness of the Company, but no
        other
        guarantee or contingent obligation of the Company in respect of indebtedness
        for
        money borrowed or other obligations incurred by others shall for purposes
        of
        this Section [611] be deemed to be Indebtedness of the Company.

       

      In
        case
        the Company shall propose to pledge, mortgage, hypothecate or grant a security
        interest in any capital stock of any Subsidiary owned by the Company to secure
        any Indebtedness, other than as permitted by Subsections (a)(1) to (a)(4),
        inclusive, of this Section [611], the Company will prior thereto give written
        notice thereof to the Trustee, and the Company will prior to or simultaneously
        with such pledge, mortgage, hypothecation or grant of security interest,
        by
        supplemental indenture executed to the Trustee (or to the extent legally
        necessary to another trustee or an additional or separate trustee), in form
        satisfactory to the Trustee, effectively secure (for so long as such other
        Indebtedness shall be so secured) all the Outstanding Securities equally
        and
        ratably with such Indebtedness and with any other indebtedness for money
        borrowed similarly entitled to be equally and ratably secured.

       

      (b)
         Except
        as
        otherwise specified as contemplated by Section 301 for Securities of any
        series
        or Tranche, the provisions of Subsection (a) of this Section [611] shall
        not
        apply to the extent that the Company creates any Restricted Liens to secure
        Indebtedness that, together with all other Indebtedness secured by Restricted
        Liens, does not at the time exceed 5% of Consolidated
        Capitalization.

       

      For
        purposes of this Section [611]:

       

      (1)
         The
        term
“Consolidated Capitalization” - definition to be inserted.

       

      (2)
         The
        term
“Consolidated Shareholders’ Equity” - definition to be inserted.

       

      
        
          
          

        

        
          -33-

          
            

          

        

        
          
          

        

      

       

      (3)
         The
        term
“Consolidated Subsidiary” - definition to be inserted.

       

      (4)
         The
        “Assets” of any Person - definition to be inserted.

       

      (5)
         The
        term
“Consolidated Indebtedness” - definition to be inserted.

       

      (6)
         The
        term
“Restricted Liens” - definition to be inserted.

       

      (7)
         The
        term
“Subsidiary” - definition to be inserted.]

       

      ARTICLE
        SEVEN

       

      Satisfaction
        And Discharge

       

      
        	
                SECTION
                  701. 

              	
                Satisfaction
                  and Discharge of
                  Securities.

              

      

       

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

       

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

       

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

       

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

       

      to
        pay
        when due the principal of and premium, if any, and interest [2(including
        any Additional Interest)], if any, due and to become due on such Securities
        or
        portions thereof on or prior to Maturity; provided, however, that in the
        case of
        the provision for payment or redemption of less than all the Securities of
        any
        series or Tranche, such Securities or portions thereof shall have been selected
        by the Trustee as provided herein and, in the case of a redemption, the notice
        requisite to the validity of such redemption shall have been given or
        irrevocable authority shall have been given by the Company to the Trustee
        to
        give such notice, under arrangements satisfactory to the Trustee; and provided,
        further, that the Company shall have delivered to the Trustee and such Paying
        Agent:

       

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

       

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

       

      
        
          
          

        

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

       

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

       

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

       

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

       

      Notwithstanding
        that any Securities shall be deemed to have been paid for purposes of this
        Indenture, as aforesaid, the obligations of the Company and the Trustee in
        respect of such Securities under Sections 304, 305, 306, 403, 404, 406, 503
        (as
        to notice of redemption), 602, 603, 907, 909, 910 and 915 and this Article
        Seven
        shall survive.

       

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

       

      Anything
        herein to the contrary notwithstanding, (a) if, at any time after a Security
        would be deemed to have been paid for purposes of this Indenture, and, if
        such
        is the case, the Company’s indebtedness in respect thereof would be deemed to
        have been satisfied or discharged, pursuant to this 

       

      
        
          
          

        

        
          -35-

          
            

          

        

        
          
          

        

      

       

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

       

      
        	
                SECTION
                  702. 

              	
                Satisfaction
                  and Discharge of
                  Indenture.

              

      

       

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

       

      (a)
         no
        Securities remain Outstanding hereunder; and

       

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

       

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

       

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

       

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

       

      
        	
                SECTION
                  703. 

              	
                Application
                  of Trust Money.

              

      

       

      Neither
        the Eligible Obligations nor the money deposited pursuant to Section 701,
        nor
        the principal or interest payments on any such Eligible Obligations, shall
        be
        withdrawn or used for any purpose other than, and such Eligible Obligations
        and
        money deposited and the principal and interest payments on any such Eligible
        Obligations shall be held in trust for, the payment of the principal of and
        premium, if any, and interest, if any, on the Securities or portions of
        principal amount thereof in respect of which such deposit was made, all subject,
        however, to the provisions of Section 603; provided, however, that, so long
        as
        there shall not have occurred and be continuing an Event of Default, any
        cash
        received from such principal or interest payments on such Eligible Obligations,
        if not then needed for such 

       

      
        
          
          

        

        
          -36-

          
            

          

        

        
          
          

        

      

       

      purpose,
        shall, to the extent practicable, be invested in Eligible Obligations of
        the
        type described in clause (b) in the first paragraph of Section 701 maturing
        at
        such times and in such amounts as shall be sufficient, together with any
        other
        moneys and the proceeds of any other Eligible Obligations then held by the
        Trustee, to pay when due the principal of and premium, if any, and interest,
        if
        any, due and to become due on such Securities or portions thereof on and
        prior
        to the Maturity thereof, and interest earned from such reinvestment shall
        be
        paid over to the Company or to the order of the Company as received, free
        and
        clear of any trust, lien or pledge under this Indenture except the lien provided
        by Section 907; and provided, further, that, so long as there shall not have
        occurred and be continuing an Event of Default, any moneys held in accordance
        with this Section on the Maturity of all such Securities in excess of the
        amount
        required to pay the principal of and premium, if any, and interest, if any,
        then
        due on such Securities shall be paid over to the Company or to the order
        of the
        Company free and clear of any trust, lien or pledge under this Indenture
        except
        the lien provided by Section 907; and provided, further, that if an Event
        of
        Default shall have occurred and be continuing, moneys to be paid over to
        the
        Company or to the order of the Company pursuant to this Section shall be
        held
        until such Event of Default shall have been waived or cured.

       

      ARTICLE
        EIGHT

       

      Events
        Of Default; Remedies

       

      
        	
                SECTION
                  801. 

              	
                Events
                  of Default.

              

      

       

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

       

      (a)
         failure
        to pay interest, [2including
        any Additional Interest,] if any, on any Security of such series within 30
        days
        after the same becomes due and payable [1(whether
        or not payment is prohibited by the subordination provisions of Article Fourteen
        hereof); provided, however, that a valid extension of the interest payment
        period by the Company as contemplated in Section 312 of this Indenture shall
        not
        constitute a default in the payment of interest for this purpose];
        or

       

      (b)
         failure
        to pay the principal of or premium, if any, on any Security of such series
        when
        it becomes due and payable [1(whether
        or not payment is prohibited by the subordination provisions of Article Fourteen
        hereof)]; or

       

      (c)
         failure
        to perform, or breach of, any covenant or warranty of the Company in this
        Indenture (other than a covenant or warranty a default in the performance
        of
        which or breach of which is elsewhere in this Section specifically dealt
        with or
        which has expressly been included in this Indenture solely for the benefit
        of
        one or more series of Securities other than such series) and the continuance
        of
        such default or breach for a period of 90 days after there has been given,
        by
        registered or certified mail, to the Company by the Trustee, or to the Company
        and the Trustee by the Holders of at least 33% in principal amount of the
        Outstanding Securities of such series, a written notice specifying such default
        or breach and requiring it to be remedied and stating that such notice is
        a
“Notice of Default” hereunder, unless the Trustee, or the Trustee and the
        Holders of a principal amount of Securities of such series not less than
        the
        principal amount of Securities the Holders of which gave such notice, as
        the
        case may be, shall agree in writing to an extension of such period prior
        to its
        expiration; provided, however, that the Trustee, or the Trustee and the Holders
        of such principal amount of Securities of such series, as the case may be,
        shall
        be deemed 

       

      
        
          
          

        

        
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      to
        have
        agreed to an extension of such period if corrective action is initiated by
        the
        Company within such period and is being diligently pursued in good faith;
        or

       

      (d)
         the
        entry
        by a court having jurisdiction in the premises of (1) a decree or order for
        relief in respect of the Company in an involuntary case or proceeding under
        any
        applicable Federal or State bankruptcy, insolvency, reorganization or other
        similar law or (2) a decree or order adjudging the Company a bankrupt or
        insolvent, or approving as properly filed a petition by one or more Persons
        other than the Company seeking reorganization, arrangement, adjustment or
        composition of or in respect of the Company under any applicable Federal
        or
        State law, or appointing a custodian, receiver, liquidator, assignee, trustee,
        sequestrator or other similar official for the Company or for any substantial
        part of its property, or ordering the winding up or liquidation of its affairs,
        and any such decree or order for relief or any such other decree or order
        shall
        have remained unstayed and in effect for a period of 90 consecutive days;
        or

       

      (e)
         the
        commencement by the Company of a voluntary case or proceeding under any
        applicable Federal or State bankruptcy, insolvency, reorganization or other
        similar law or of any other case or proceeding to be adjudicated a bankrupt
        or
        insolvent, or the consent by the Company to the entry of a decree or order
        for
        relief in respect of the Company in a case or proceeding under any applicable
        Federal or State bankruptcy, insolvency, reorganization or other similar
        law or
        to the commencement of any bankruptcy or insolvency case or proceeding against
        the Company, or the filing by the Company of a petition or answer or consent
        seeking reorganization or relief under any applicable Federal or State law,
        or
        the consent by the Company to the filing of such petition or to the appointment
        of or taking possession by a custodian, receiver, liquidator, assignee, trustee,
        sequestrator or similar official of the Company or of any substantial part
        of
        its property, or the making by the Company of an assignment for the benefit
        of
        creditors, or the admission by the Company in writing of its inability to
        pay
        its debts generally as they become due, or the authorization of such action
        by
        the Board of Directors; or

       

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

       

      
        	
                SECTION
                  802. 

              	
                Acceleration
                  of Maturity; Rescission and
                  Annulment.

              

      

       

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

       

      
        
          
          

        

        
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      acceleration,
        such principal amount (or specified amount) and interest accrued thereon
        shall
        become immediately due and payable.

       

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

       

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

       

      (1)
         all
        overdue interest [2(including
        Additional Interest)], if any, on all Securities of such series then
        Outstanding;

       

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

       

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

       

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

       

      and

       

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

       

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

       

      
        	
                SECTION
                  803. 

              	
                Collection
                  of Indebtedness and Suits for Enforcement by
                  Trustee.

              

      

       

      If
        an
        Event of Default described in clause (a) or (b) of Section 801 shall have
        occurred and be continuing, the Company shall, upon demand of the Trustee,
        pay
        to it, for the benefit of the Holders of the Securities of the series with
        respect to which such Event of Default shall have occurred, the whole amount
        then due and payable on such Securities for principal and premium, if any,
        and
        interest, if any, and, to the extent permitted by law, interest on premium,
        if
        any, and on any overdue principal and interest, at the rate or rates prescribed
        therefor in such Securities, and, in addition thereto, such further amount
        as
        shall be sufficient to cover any amounts due to the Trustee under Section
        907.
        Unless otherwise specified pursuant to Section 301 with respect to any series
        of
        Securities, the rate or rates at which Securities shall bear interest on
        overdue
        principal, premium, interest [2and
        Additional Interest], if any, shall be, to the extent permitted by law, the
        same
        rate or rates at which such Securities shall bear interest prior to
        Maturity.

       

      If
        the
        Company shall fail to pay such amounts forthwith upon such demand, the Trustee,
        in its own name and as trustee of an express trust, may institute a judicial
        proceeding for the collection of 

       

      
        
          
          

        

        
          -39-

          
            

          

        

        
          
          

        

      

       

      the
        sums
        so due and unpaid, may prosecute such proceeding to judgment or final decree
        and
        may enforce the same against the Company or any other obligor upon such
        Securities and collect the moneys adjudged or decreed to be payable in the
        manner provided by law out of the property of the Company or any other obligor
        upon such Securities, wherever situated.

       

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

       

      
        	
                SECTION
                  804. 

              	
                Trustee
                  May File Proofs of Claim.

              

      

       

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

       

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

       

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

       

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

       

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

       

      
        	
                SECTION
                  805. 

              	
                Trustee
                  May Enforce Claims Without Possession of
                  Securities.

              

      

       

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

       

      
        
          
          

        

        
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                SECTION
                  806. 

              	
                Application
                  of Money Collected.

              

      

       

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

       

      First:
        To the
        payment of all amounts due the Trustee under Section 907;

       

      Second:
        [1Subject
        to the provisions of Article Fourteen,] the payment of the amounts then due
        and
        unpaid upon the Securities for principal of and premium, if any, and interest
        [2(including
        Additional Interest)], if any, in respect of which or for the benefit of
        which
        such money has been collected, ratably, without preference or priority of
        any
        kind, according to the amounts due and payable on such Securities for principal,
        premium, if any, and interest, if any, respectively; and

       

      Third:
        To the
        Company.

       

      
        	
                SECTION
                  807. 

              	
                Limitation
                  on Suits.

              

      

       

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

       

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

       

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

       

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

       

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

       

      (e)
         no
        direction inconsistent with such written request shall have been given to
        the
        Trustee during such 60-day period by the Holders of a majority in aggregate
        principal amount of the Outstanding Securities of all series in respect of
        which
        an Event of Default shall have occurred and be continuing, considered as
        one
        class;

       

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

       

      
        
          
          

        

        
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                SECTION
                  808. 

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

              

      

       

      Notwithstanding
        any other provision in this Indenture, the Holder of any Security shall have
        the
        right, which is absolute and unconditional, to receive payment of the principal
        of and premium, if any, and (subject to Section 307 [1and
        312])
        interest [2(including
        Additional Interest)], if any, on such Security on the Stated Maturity or
        Maturities expressed in such Security (or, in the case of redemption, on
        the
        Redemption Date) and to institute suit for the enforcement of any such payment,
        and such rights shall not be impaired without the consent of such
        Holder.

       

      
        	
                SECTION
                  809. 

              	
                Restoration
                  of Rights and Remedies.

              

      

       

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

       

      
        	
                SECTION
                  810. 

              	
                Rights
                  and Remedies Cumulative.

              

      

       

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

       

      
        	
                SECTION
                  811. 

              	
                Delay
                  or Omission Not Waiver.

              

      

       

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

       

      
        	
                SECTION
                  812. 

              	
                Control
                  by Holders of Securities.

              

      

       

      If
        an
        Event of Default shall have occurred and be continuing in respect of a series
        of
        Securities, the Holders of a majority in principal amount of the Outstanding
        Securities of such series shall have the right to direct the time, method
        and
        place of conducting any proceeding for any remedy available to the Trustee,
        or
        exercising any trust or power conferred on the Trustee, with respect to the
        Securities of such series; provided, however, that if an Event of Default
        shall
        have occurred and be continuing with respect to more than one series of
        Securities, the Holders of a majority in aggregate principal amount of the
        Outstanding Securities of all such series, considered as one class, shall
        have
        the right to make such direction, and not the Holders of the Securities of
        any
        one of such series; and provided, further, that

       

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

       

      
        
          
          

        

        
          -42-

          
            

          

        

        
          
          

        

      

       

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

       

      
        	
                SECTION
                  813. 

              	
                Waiver
                  of Past Defaults.

              

      

       

      The
        Holders of a majority in aggregate principal amount of the Outstanding
        Securities of any series may on behalf of the Holders of all the Securities
        of
        such series waive any past default hereunder with respect to such series
        and its
        consequences, except a default

       

      (a)
         in
        the
        payment of the principal of or premium, if any, or interest [2(including
        Additional Interest)], if any, on any Security of such series, or

       

      (b)
         in
        respect of a covenant or provision hereof which under Section 1202 cannot
        be
        modified or amended without the consent of the Holder of each Outstanding
        Security of such series affected [2;

       

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

       

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

       

      
        	
                SECTION
                  814. 

              	
                Undertaking
                  for Costs.

              

      

       

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

       

      
        	
                SECTION
                  815. 

              	
                Waiver
                  of Usury, Stay or Extension
                  Laws.

              

      

       

      The
        Company covenants (to the extent that it may lawfully do so) that it will
        not at
        any time insist upon, or plead, or in any manner whatsoever claim or take
        the
        benefit or advantage of, any usury, stay or extension law wherever enacted,
        now
        or at any time hereafter in force, which may affect the covenants or the
        performance of this Indenture; and the Company (to the extent that it may
        lawfully do so) hereby expressly waives all benefit or advantage of any such
        law
        and covenants that it will not hinder, 

       

      
        
          
          

        

        
          -43-

          
            

          

        

        
          
          

        

      

       

      delay
        or
        impede the execution of any power herein granted to the Trustee, but will
        suffer
        and permit the execution of every such power as though no such law had been
        enacted.

       

      ARTICLE
        NINE

       

      The
        Trustee

       

      
        	
                SECTION
                  901. 

              	
                Certain
                  Duties and
                  Responsibilities.

              

      

       

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

       

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

       

      (ii) in
        the
        absence of bad faith on its part, the Trustee may, with respect to Securities
        of
        such series, conclusively rely, as to the truth of the statements and the
        correctness of the opinions expressed therein, upon certificates or opinions
        furnished to the Trustee and conforming to the requirements of this Indenture;
        but in the case of any such certificates or opinions which by any provisions
        hereof are specifically required to be furnished to the Trustee, the Trustee
        shall be under a duty to examine the same to determine whether or not they
        conform to the requirements of this Indenture.

       

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

       

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

       

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

       

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

       

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

       

      (iv) no
        provision of this Indenture shall require the Trustee to expend or risk its
        own
        funds or otherwise incur any financial liability in the performance of any
        of
        its duties hereunder, or in the exercise of any of its rights or powers,
        if it
        shall have

       

      
        
          
          

        

        
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      reasonable
        grounds for believing that repayment of such funds or adequate indemnity
        against
        such risk or liability is not reasonably assured to it.

       

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

       

      
        	
                SECTION
                  902. 

              	
                Notice
                  of Defaults.

              

      

       

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

       

      
        	
                SECTION
                  903. 

              	
                Certain
                  Rights of Trustee.

              

      

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
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      document,
        but the Trustee, in its discretion, may make such further inquiry or
        investigation into such facts or matters as it may see fit, and, if the Trustee
        shall determine to make such further inquiry or investigation, it shall (subject
        to applicable legal requirements) with prior notice to the Company be entitled
        to examine, during normal business hours, the books, records and premises
        of the
        Company, personally or by agent or attorney;

       

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

       

      (h)
         except
        as
        otherwise provided in Section 801, the Trustee shall not be charged with
        knowledge of any Event of Default with respect to the Securities of any series
        for which it is acting as Trustee unless either (1) a Responsible Officer
        of the
        Trustee shall have actual knowledge of the Event of Default or (2) written
        notice of such Event of Default shall have been given to the Trustee by the
        Company or any other obligor on such Securities or by any Holder of such
        Securities;

       

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

       

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

       

      
        	
                SECTION
                  904. 

              	
                Not
                  Responsible for Recitals or Issuance of
                  Securities.

              

      

       

      The
        recitals contained herein and in the Securities (except the Trustee’s
        certificates of authentication) shall be taken as the statements of the Company
        and neither the Trustee nor any Authenticating Agent assumes responsibility
        for
        their correctness. The Trustee makes no representations as to the validity
        or
        sufficiency of this Indenture or of the Securities. Neither the Trustee nor
        any
        Authenticating Agent shall be accountable for the use or application by the
        Company of Securities or the proceeds thereof.

       

      
        	
                SECTION
                  905. 

              	
                May
                  Hold Securities.

              

      

       

      Each
        of
        the Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar
        or any other agent of the Company or the Trustee, in its individual or any
        other
        capacity, may become the owner or pledgee of Securities [2and/or
        Preferred Securities] and, subject to Sections 908 and 913, may otherwise
        deal
        with the Company with the same rights it would have if it were not the Trustee,
        Authenticating Agent, Paying Agent, Security Registrar or such other
        agent.

       

      
        	
                SECTION
                  906. 

              	
                Money
                  Held in Trust.

              

      

       

      Money
        held by the Trustee in trust hereunder need not be segregated from other
        funds,
        except to the extent required by law. The Trustee shall be under no liability
        for interest on or investment of any money received by it hereunder except
        as
        expressly provided herein or otherwise agreed with, and for the sole benefit
        of,
        the Company.

       

      
        
          
          

        

        
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                SECTION
                  907. 

              	
                Compensation
                  and Reimbursement.

              

      

       

      The
        Company agrees

       

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

       

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

       

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

       

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

       

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

       

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

       

      
        	
                SECTION
                  908. 

              	
                Disqualification;
                  Conflicting Interests.

              

      

       

      If
        the
        Trustee shall have or acquire any conflicting interest within the meaning
        of the
        Trust Indenture Act, it shall either eliminate such conflicting interest
        or
        resign to the extent, in the manner and with the effect, and subject to the
        conditions, provided in the Trust Indenture Act and this Indenture. To the
        extent permitted by the Trust Indenture Act, the Trustee shall not be deemed
        to
        have a conflicting interest by virtue of being a trustee under Indenture,
        dated
        as of June 1, 1999, between FPL Group Capital Inc and The Bank of New York,
        as
        trustee, the Guarantee Agreement, dated as of June 1, 1999, between the Company,
        as guarantor and The Bank of New York, as guarantee trustee, the Indenture
        (For
        Unsecured Subordinated Debt Securities relating to Trust Securities), dated
        as
        of March 1, 2004, among FPL Group Capital Inc, the Company, as guarantor
        and The
        Bank of New York, as indenture trustee, the Amended and Restated Trust
        Agreement, dated as of March 15, 2004, among the Company, as depositor, The
        Bank
        of New York, as property trustee, The Bank of New York (Delaware), as Delaware
        trustee, the

       

      
        
          
          

        

        
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      administrative
        trustees named therein and several holders of trust securities, the Preferred
        Trust Securities Guarantee Agreement, dated as of March 15, 2004, between
        the
        Company, as guarantor and The Bank of New York, as guarantee trustee, the
        Trust
        Agreement and the Preferred Trust Securities Guarantee Agreement,
        ________________, and such agreements, guarantees and the Securities of any
        other series shall be deemed to be specifically described in this Indenture
        for
        the purposes of clause (i) of the first proviso contained in Section 310(b)
        of
        the Trust Indenture Act.

       

      
        	
                SECTION
                  909. 

              	
                Corporate
                  Trustee Required;
                  Eligibility.

              

      

       

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

       

      (a)
         a
        Corporation organized and doing business under the laws of the United States,
        any State or Territory thereof or the District of Columbia, authorized under
        such laws to exercise corporate trust powers, having a combined capital and
        surplus of at least $50,000,000 and subject to supervision or examination
        by
        Federal or State authority, or

       

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

       

      and,
        in
        either case, qualified and eligible under this Article and the Trust Indenture
        Act. If such Corporation publishes reports of condition at least annually,
        pursuant to law or to the requirements of such supervising or examining
        authority, then for the purposes of this Section, the combined capital and
        surplus of such Corporation shall be deemed to be its combined capital and
        surplus as set forth in its most recent report of condition so published.
        If at
        any time the Trustee shall cease to be eligible in accordance with the
        provisions of this Section and the Trust Indenture Act, it shall resign
        immediately in the manner and with the effect hereinafter specified in this
        Article.

       

      
        	
                SECTION
                  910. 

              	
                Resignation
                  and Removal; Appointment of
                  Successor.

              

      

       

      (a)
         No
        resignation or removal of the Trustee and no appointment of a successor Trustee
        pursuant to this Article shall become effective until the acceptance of
        appointment by the successor Trustee in accordance with the applicable
        requirements of Section 911.

       

      (b)
         The
        Trustee may resign at any time with respect to the Securities of one or more
        series by giving written notice thereof to the Company. If the instrument
        of
        acceptance by a successor Trustee required by Section 911 shall not have
        been
        delivered to the Trustee within 30 days after the giving of such notice of
        resignation, the resigning Trustee may petition any court of competent
        jurisdiction for the appointment of a successor Trustee with respect to the
        Securities of such series.

       

      (c)
         The
        Trustee may be removed at any time with respect to the Securities of any
        series
        by Act of the Holders of a majority in principal amount of the Outstanding
        Securities of such series delivered to the Trustee and to the
        Company[2;
        provided that so long as any Preferred Securities remain outstanding, the
        Trust
        which issued such Preferred Securities shall not execute any Act to remove
        the
        Trustee without the consent of the holders of a majority in
        aggregate

       

      
        
          
          

        

        
          -48-

          
            

          

        

        
          
          

        

      

       

      liquidation
        preference of Preferred Securities issued by such Trust outstanding, obtained
        as
        provided in the Trust Agreement pertaining to such Trust].

       

      (d)
         If
        at any
        time:

       

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

       

      (2)
         the
        Trustee shall cease to be eligible under Section 909 or Section 310(a) of
        the
        Trust Indenture Act and shall fail to resign after written request therefor
        by
        the Company or by any such Holder, or

       

      (3)
         the
        Trustee shall become incapable of acting or shall be adjudged a bankrupt
        or
        insolvent or a receiver of the Trustee or of its property shall be appointed
        or
        any public officer shall take charge or control of the Trustee or of its
        property or affairs for the purpose of rehabilitation, conservation or
        liquidation,

       

      then,
        in
        any such case, (x) the Company by Board Resolutions may remove the Trustee
        with respect to all Securities or (y) subject to Section 814, any Holder
        who has been a bona fide Holder for at least six months may, on behalf of
        himself and all others similarly situated, petition any court of competent
        jurisdiction for the removal of the Trustee with respect to all Securities
        and
        the appointment of a successor Trustee or Trustees.

       

      (e)
         If
        the
        Trustee shall resign, be removed or become incapable of acting, or if a vacancy
        shall occur in the office of Trustee for any cause (other than as contemplated
        in clause (y) in subsection (d) of this Section), with respect to the Securities
        of one or more series, the Company, by Board Resolutions, shall promptly
        appoint
        a successor Trustee or Trustees with respect to the Securities of that or
        those
        series (it being understood that any such successor Trustee may be appointed
        with respect to the Securities of one or more or all of such series and that
        at
        any time (subject to Section 914) there shall be only one Trustee with respect
        to the Securities of any particular series) and shall comply with the applicable
        requirements of Section 911. If, within one year after such resignation,
        removal
        or incapability, or the occurrence of such vacancy, a successor Trustee with
        respect to the Securities of any series shall be appointed by Act of the
        Holders
        of a majority in principal amount of the Outstanding Securities of such series
        delivered to the Company and the retiring Trustee, the successor Trustee
        so
        appointed shall, forthwith upon its acceptance of such appointment in accordance
        with the applicable requirements of Section 911, become the successor Trustee
        with respect to the Securities of such series and to that extent supersede
        the
        successor Trustee appointed by the Company. If no successor Trustee with
        respect
        to the Securities of any series shall have been so appointed by the Company
        or
        the Holders and accepted appointment in the manner required by Section 911,
        any
        Holder who has been a bona fide Holder of a Security of such series for at
        least
        six months may, on behalf of itself and all others similarly situated, petition
        any court of competent jurisdiction for the appointment of a successor Trustee
        with respect to the Securities of such series.

       

      (f)
         So
        long
        as no event which is, or after notice or lapse of time, or both, would become,
        an Event of Default shall have occurred and be continuing, and except with
        respect to a Trustee appointed by Act of the Holders of a majority in principal
        amount of the Outstanding Securities pursuant to subsection (e) of this Section,
        if the Company shall have delivered to the Trustee (i) Board Resolutions
        appointing a successor Trustee, effective as of a date specified therein,
        and
        (ii) an instrument of acceptance of such appointment, effective as of such
        date,
        by such successor Trustee in accordance with Section 911, the Trustee shall
        be
        deemed to have

       

      
        
          
          

        

        
          -49-

          
            

          

        

        
          
          

        

      

       

      resigned
        as contemplated in subsection (b) of this Section, the successor Trustee
        shall
        be deemed to have been appointed by the Company pursuant to subsection (e)
        of
        this Section and such appointment shall be deemed to have been accepted as
        contemplated in Section 911, all as of such date, and all other provisions
        of
        this Section and Section 911 shall be applicable to such resignation,
        appointment and acceptance except to the extent inconsistent with this
        subsection (f).

       

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

       

      
        	
                SECTION
                  911. 

              	
                Acceptance
                  of Appointment by
                  Successor.

              

      

       

      (a)
         In
        case
        of the appointment hereunder of a successor Trustee with respect to the
        Securities of all series, every such successor Trustee so appointed shall
        execute, acknowledge and deliver to the Company and to the retiring Trustee
        an
        instrument accepting such appointment, and thereupon the resignation or removal
        of the retiring Trustee shall become effective and such successor Trustee,
        without any further act, shall become vested with all the rights, powers,
        trusts
        and duties of the retiring Trustee; but, on the request of the Company or
        the
        successor Trustee, such retiring Trustee shall, upon payment of all sums
        owed to
        it, execute and deliver an instrument transferring to such successor Trustee
        all
        the rights, powers and trusts of the retiring Trustee and shall duly assign,
        transfer and deliver to such successor Trustee all property and money held
        by
        such retiring Trustee hereunder.

       

      (b)
         In
        case
        of the appointment hereunder of a successor Trustee with respect to the
        Securities of one or more (but not all) series, the Company, the retiring
        Trustee and each successor Trustee with respect to the Securities of such
        series
        shall execute and deliver an indenture supplemental hereto wherein each
        successor Trustee shall accept such appointment and which (1) shall contain
        such provisions as shall be necessary or desirable to transfer and confirm
        to,
        and to vest in, each successor Trustee all the rights, powers, trusts and
        duties
        of the retiring Trustee with respect to the Securities of that or those series
        to which the appointment of such successor Trustee relates, (2) if the
        retiring Trustee is not retiring with respect to all Securities, shall contain
        such provisions as shall be deemed necessary or desirable to confirm that
        all
        the rights, powers, trusts and duties of the retiring Trustee with respect
        to
        the Securities of that or those series as to which the retiring Trustee is
        not
        retiring shall continue to be vested in the retiring Trustee and (3) shall
        add to or change any of the provisions of this Indenture as shall be necessary
        to provide for or facilitate the administration of the trusts hereunder by
        more
        than one Trustee, it being understood that nothing herein or in such
        supplemental indenture shall constitute such Trustees co-trustees of the
        same
        trust and that each such Trustee shall be trustee of a trust or trusts hereunder
        separate and apart from any trust or trusts hereunder administered by any
        other
        such Trustee; and upon the execution and delivery of such supplemental indenture
        the resignation or removal of the retiring Trustee shall become effective
        to the
        extent provided therein and each such successor Trustee, without any further
        act, shall become vested with all the rights, powers, trusts and duties of
        the
        retiring Trustee with respect to the Securities of that or those series to
        which
        the appointment of such successor Trustee relates; but, on request of the
        Company or any successor Trustee, such retiring Trustee, upon payment of
        all
        sums owed to it, shall duly assign, transfer and deliver to such successor
        Trustee all property and money held by such retiring Trustee hereunder with
        respect to the Securities of that or those series to which the appointment
        of
        such successor Trustee relates.

       

      
        
          
          

        

        
          -50-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

      
        	
                SECTION
                  912. 

              	
                Merger,
                  Conversion, Consolidation or Succession to
                  Business.

              

      

       

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

       

      
        	
                SECTION
                  913. 

              	
                Preferential
                  Collection of Claims Against
                  Company.

              

      

       

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

       

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

       

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

       

      
        	
                SECTION
                  914. 

              	
                Co-trustees
                  and Separate Trustees.

              

      

       

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

       

      
        
          
          

        

        
          -51-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

      
        	
                SECTION
                  915. 

              	
                Appointment
                  of Authenticating Agent.

              

      

       

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

       

      
        
          
          

        

        
          -52-

          
            

          

        

        
          
          

        

      

       

      Securities
        so authenticated shall be entitled to the benefits of this Indenture and
        shall
        be valid and obligatory for all purposes as if authenticated by the Trustee
        hereunder. Wherever reference is made in this Indenture to the authentication
        and delivery of Securities by the Trustee or the Trustee’s certificate of
        authentication, such reference shall be deemed to include authentication
        and
        delivery on behalf of the Trustee by an Authenticating Agent and a certificate
        of authentication executed on behalf of the Trustee by an Authenticating
        Agent.
        Each Authenticating Agent shall be acceptable to the Company and shall at
        all
        times be a Corporation organized and doing business under the laws of the
        United
        States, any State or Territory thereof or the District of Columbia or the
        Commonwealth of Puerto Rico, authorized under such laws to act as Authenticating
        Agent, having a combined capital and surplus of not less than $50,000,000
        and
        subject to supervision or examination by Federal or State authority. If such
        Authenticating Agent publishes reports of condition at least annually, pursuant
        to law or to the requirements of said supervising or examining authority,
        then
        for the purposes of this Section, the combined capital and surplus of such
        Authenticating Agent shall be deemed to be its combined capital and surplus
        as
        set forth in its most recent report of condition so published. If at any
        time an
        Authenticating Agent shall cease to be eligible in accordance with the
        provisions of this Section, such Authenticating Agent shall resign immediately
        in the manner and with the effect specified in this Section.

       

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

       

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

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          -53-

          
            

          

        

        
          
          

        

      

       

      
        	 	
                THE
                  BANK OF NEW YORK, as Trustee

                 

                By:
                  
                  

                

                As
                  Authenticating Agent

                 

                By:
                  
                  

                

                Authorized
                  Signatory

                 

              

      

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

       

      ARTICLE
        TEN

       

      Holders’
        Lists And Reports By Trustee and Company

       

      
        	
                SECTION
                  1001. 

              	
                Lists
                  of Holders.

              

      

       

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

       

      
        	
                SECTION
                  1002. 

              	
                Reports
                  by Trustee and Company.

              

      

       

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

       

      
        
          
          

        

        
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      ARTICLE
        ELEVEN

       

      Consolidation,
        Merger, Conveyance Or Other Transfer

       

      
        	
                SECTION
                  1101. 

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

              

      

       

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

       

      (a)
         the
        Person formed by such consolidation or into which the Company is merged or
        the
        Person which acquires by conveyance or transfer, or which leases, the properties
        and assets of the Company substantially as an entirety shall be a Person
        organized and existing under the laws of the United States, any State thereof
        or
        the District of Columbia, and shall expressly assume, by an indenture
        supplemental hereto, executed and delivered to the Trustee, in form satisfactory
        to the Trustee, the due and punctual payment of the principal of and premium,
        if
        any, and interest, if any, on all Outstanding Securities and the performance
        of
        every covenant of this Indenture on the part of the Company to be
        performed or observed;

       

      (b)
         immediately
        after giving effect to such transaction, no Event of Default and no event
        which,
        after notice or lapse of time or both, would become an Event of Default,
        shall
        have occurred and be continuing; and

       

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

       

      
        	
                SECTION
                  1102. 

              	
                Successor
                  Entity Substituted.

              

      

       

      Upon
        any
        consolidation by the Company with or merger by the Company into any other
        Person
        or any conveyance, or other transfer or lease of the properties and assets
        of
        the Company substantially as an entirety in accordance with Section 1101,
        the
        successor Person formed by such consolidation or into which the Company is
        merged or the Person to which such conveyance, transfer or lease is made
        shall
        succeed to, and be substituted for, and may exercise every right and power
        of,
        the Company under this Indenture with the same effect as if such successor
        Person had been named as the Company herein, and thereafter, except in the
        case
        of a lease, the predecessor Person shall be relieved of all obligations and
        covenants under this Indenture and the Securities Outstanding
        hereunder.

       

      
        	
                SECTION
                  1103. 

              	
                Limitation.

              

      

       

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

       

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

       

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

       

      
        
          
          

        

        
          -55-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

      ARTICLE
        TWELVE

       

      Supplemental
        Indentures

       

      
        	
                SECTION
                  1201. 

              	
                Supplemental
                  Indentures Without Consent of
                  Holders.

              

      

       

      Without
        the consent of any Holders, the Company and the Trustee, at any time and
        from
        time to time, may enter into one or more indentures supplemental hereto,
        in form
        reasonably satisfactory to the Trustee, for any of the following
        purposes:

       

      (a)
         to
        evidence the succession of another Person to the Company and the assumption
        by
        any such successor of the covenants of the Company herein and in the Securities,
        all as provided in Article Eleven; or

       

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

       

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

       

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

       

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

       

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

       

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

       

      
        
          
          

        

        
          -56-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

      (k)
         to
        cure
        any ambiguity, to correct or supplement any provision herein which may be
        defective or inconsistent with any other provision herein, or to make any
        other
        changes to the provisions hereof or to add other provisions with respect
        to
        matters or questions arising under this Indenture, provided that such other
        changes or additions shall not adversely affect the interests of the Holders
        of
        Securities of any series or Tranche in any material respect.

       

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

       

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

       

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

       

      
        	
                SECTION
                  1202. 

              	
                Supplemental
                  Indentures With Consent of
                  Holders.

              

      

       

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

       

      
        
          
          

        

        
          -57-

          
            

          

        

        
          
          

        

      

       

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

       

      (a)
         change
        the Stated Maturity of the principal of, or any installment of principal
        of or
        interest on [1(except
        as provided in Section 312 hereof)], any Security, or reduce the principal
        amount thereof or the rate of interest thereon (or the amount of any installment
        of interest thereon) or change the method of calculating such rate or reduce
        any
        premium payable upon the redemption thereof, or reduce the amount of the
        principal of a Discount Security that would be due and payable upon a
        declaration of acceleration of the Maturity thereof pursuant to
        Section 802, or change the coin or currency (or other property), in which
        any Security or any premium or the interest thereon is payable, or impair
        the
        right to institute suit for the enforcement of any such payment on or after
        the
        Stated Maturity of any Security (or, in the case of redemption, on or after
        the
        Redemption Date), without, in any such case, the consent of the Holder of
        such
        Security, or

       

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

       

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

       

      [2Notwithstanding
        the foregoing, so long as any of the Preferred Securities remain outstanding,
        the Trustee may not consent to a supplemental indenture under this Section
        1202
        without the prior consent, obtained as provided in a Trust Agreement pertaining
        to a Trust which issued such Preferred Securities, of the holders of a majority
        in aggregate liquidation preference of all Preferred Securities issued by
        such
        Trust affected, considered as one class, or, in the case of changes described
        in
        clauses (a), (b) and (c) above, 100% in aggregate liquidation preference
        of all
        such Preferred Securities then outstanding which would be affected thereby,
        considered as one class.]

       

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

       

      
        
          
          

        

        
          -58-

          
            

          

        

        
          
          

        

      

       

      It
        shall
        not be necessary for any Act of Holders under this Section to approve the
        particular form of any proposed supplemental indenture, but it shall be
        sufficient if such Act shall approve the substance thereof. A waiver by a
        Holder
        of such Holder’s right to consent under this Section shall be deemed to be a
        consent of such Holder.

       

      
        	
                SECTION
                  1203. 

              	
                Execution
                  of Supplemental
                  Indentures.

              

      

       

      In
        executing, or accepting the additional trusts created by, any supplemental
        indenture permitted by this Article or the modifications thereby of the trusts
        created by this Indenture, the Trustee shall be entitled to receive, and
        (subject to Section 901) shall be fully protected in relying upon, an Opinion
        of
        Counsel stating that the execution of such supplemental indenture is authorized
        or permitted by this Indenture. The Trustee may, but shall not be obligated
        to,
        enter into any such supplemental indenture which affects the Trustee’s own
        rights, duties, immunities or liabilities under this Indenture or
        otherwise.

       

      
        	
                SECTION
                  1204. 

              	
                Effect
                  of Supplemental
                  Indentures.

              

      

       

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

       

      
        	
                SECTION
                  1205. 

              	
                Conformity
                  With Trust Indenture Act.

              

      

       

      Every
        supplemental indenture executed pursuant to this Article shall conform to
        the
        requirements of the Trust Indenture Act as then in effect.

       

      
        	
                SECTION
                  1206. 

              	
                Reference
                  in Securities to Supplemental
                  Indentures.

              

      

       

      Securities
        of any series, or any Tranche thereof, authenticated and delivered after
        the
        execution of any supplemental indenture pursuant to this Article may, and
        shall
        if required by the Trustee, bear a notation in form approved by the Trustee
        as
        to any matter provided for in such supplemental indenture. If the Company
        shall
        so determine, new Securities of any series, or any Tranche thereof, so modified
        as to conform, in the opinion of the Trustee and the Company, to any such
        supplemental indenture may be prepared and executed by the Company and
        authenticated and delivered by the Trustee in exchange for Outstanding
        Securities of such series or Tranche.

       

      
        	
                SECTION
                  1207. 

              	
                Modification
                  Without Supplemental
                  Indenture.

              

      

       

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

       

      
        
          
          

        

        
          -59-

          
            

          

        

        
          
          

        

      

       

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

       

      ARTICLE
        THIRTEEN

       

      Meetings
        Of Holders; Action Without Meeting

       

      
        	
                SECTION
                  1301. 

              	
                Purposes
                  for Which Meetings May Be
                  Called.

              

      

       

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

       

      
        	
                SECTION
                  1302. 

              	
                Call,
                  Notice and Place of
                  Meetings.

              

      

       

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

       

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

       

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

       

      
        	
                SECTION
                  1303. 

              	
                Persons
                  Entitled to Vote at
                  Meetings.

              

      

       

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

       

      
        
          
          

        

        
          -60-

          
            

          

        

        
          
          

        

      

       

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

       

      
        	
                SECTION
                  1304. 

              	
                Quorum;
                  Action.

              

      

       

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

       

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

       

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

       

      
        	
                SECTION
                  1305. 

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

              

      

       

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

       

      
        
          
          

        

        
          -61-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

      
        	
                SECTION
                  1306. 

              	
                Counting
                  Votes and Recording Action of
                  Meetings.

              

      

       

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

       

      
        
          
          

        

        
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                SECTION
                  1307. 

              	
                Action
                  Without Meeting.

              

      

       

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

       

      ARTICLE
        FOURTEEN

       

      [1Subordination
        Of Securities

       

      
        	
                SECTION
                  1401. 

              	
                Securities
                  Subordinate to Senior Indebtedness of the
                  Company.

              

      

       

      The
        Company, for itself, its successors and assigns, covenants and agrees, and
        each
        Holder of the Securities of each series, by its acceptance thereof, likewise
        covenants and agrees, that the payment of the principal of and premium, if
        any,
        and interest [2(
        including any Additional Interest)], if any, on each and all of the Securities
        is hereby expressly subordinated and junior in right of payment, and subject,
        to
        the extent and in the manner set forth in this Article, in right of payment
        to
        the prior payment in full of all Senior Indebtedness of the
        Company.

       

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

       

      
        	
                SECTION
                  1402. 

              	
                Payment
                  Over of Proceeds of
                  Securities.

              

      

       

      In
        the
        event (a) of any insolvency or bankruptcy proceedings or any receivership,
        liquidation, reorganization or other similar proceedings in respect of the
        Company or a substantial part of its property and assets, or of any proceedings
        for liquidation, dissolution or other winding up of the Company, whether
        or not
        involving insolvency or bankruptcy, or (b) subject to the provisions of
        Section 1403, that (i) a default shall have occurred with respect to the
        payment of principal of or interest on or other monetary amounts due and
        payable
        on any Senior Indebtedness, or (ii) there shall have occurred a default (other
        than a default in the payment of principal or interest or other monetary
        amounts
        due and payable) in respect of any Senior Indebtedness, as defined therein
        or in
        the instrument under which the same is outstanding, permitting the holder
        or
        holders thereof, or any other Person on its or their behalf to accelerate
        the
        maturity thereof (with notice or lapse of time, or both), and such default
        shall
        have continued beyond the period of grace, if any, in respect thereof, and,
        in
        the cases of subclauses (i) and (ii) of this clause (b), such default shall
        not
        have been cured or waived or shall not have ceased to exist, or (c) that
        the
        principal of and/or premium, if any, and/or accrued interest [2(including
        Additional Interest)], if any, on the Securities of any series shall have
        been
        declared due and payable pursuant to Section 801 and such declaration shall
        not
        have been rescinded and annulled as provided in Section 802, then:

       

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

       

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

       

      
        
          
          

        

        
          -63-

          
            

          

        

        
          
          

        

      

       

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

       

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

       

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

       

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

       

      
        	
                SECTION
                  1403. 

              	
                Disputes
                  with Holders of Certain Senior
                  Indebtedness.

              

      

       

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

       

      
        
          
          

        

        
          -64-

          
            

          

        

        
          
          

        

      

       

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

       

      
        	
                SECTION
                  1404. 

              	
                Subrogation.

              

      

       

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

       

      
        	
                SECTION
                  1405. 

              	
                Obligation
                  of the Company
                  Unconditional.

              

      

       

      Nothing
        contained in this Article or elsewhere in this Indenture or in the Securities
        is
        intended to or shall impair, as among the Company, its creditors other than
        the
        holders of Senior Indebtedness and the Holders, the obligation of the Company,
        which is absolute and unconditional, to pay to the Holders the principal
        of,
        premium, if any, and interest [2(including
        Additional Interest)], if any on the Securities as and when the same shall
        become due and payable in accordance with their terms, or is intended to
        or
        shall affect the relative rights of the Holders and creditors of the Company
        other than the holders of Senior Indebtedness, nor shall anything herein
        or
        therein prevent the Trustee or any Holder from exercising all remedies otherwise
        permitted by applicable law upon default under this Indenture, subject to
        the
        rights, if any, under this Article of the holders of Senior Indebtedness
        in
        respect of cash, property or securities of the Company received upon the
        exercise of any such remedy.

       

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

       

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

       

      
        
          
          

        

        
          -65-

          
            

          

        

        
          
          

        

      

       

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

       

      
        	
                SECTION
                  1406. 

              	
                Priority
                  of Senior Indebtedness Upon
                  Maturity.

              

      

       

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

       

      
        	
                SECTION
                  1407. 

              	
                Trustee
                  as Holder of Senior
                  Indebtedness.

              

      

       

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

       

      
        	
                SECTION
                  1408. 

              	
                Notice
                  to Trustee to Effectuate
                  Subordination.

              

      

       

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

       

      
        
          
          

        

        
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                SECTION
                  1409. 

              	
                Modification,
                  Extension, etc. of Senior
                  Indebtedness.

              

      

       

      The
        holders of Senior Indebtedness or their representative or representatives
        or the
        trustee or trustees under any indenture under which any instruments evidencing
        any such Senior Indebtedness may have been issued may, without affecting
        in any
        manner the subordination of the payment of the principal of and premium,
        if any,
        and interest [2(including
        Additional Interest)], if any, on the Securities, at any time or from time
        to
        time and in their absolute discretion, agree with the Company to change the
        manner, place or terms of payment, change or extend the time of payment of,
        or
        renew or alter, any Senior Indebtedness, or amend or supplement any instrument
        pursuant to which any Senior Indebtedness is issued, or exercise or refrain
        from
        exercising any other of their rights under the Senior Indebtedness including,
        without limitation, the waiver of default thereunder, all without notice
        to or
        assent from the Holders or the Trustee.

       

      
        	
                SECTION
                  1410. 

              	
                Trustee
                  Has No Fiduciary Duty to Holders of Senior
                  Indebtedness.

              

      

       

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

       

      
        	
                SECTION
                  1411. 

              	
                Paying
                  Agents Other Than the
                  Trustee.

              

      

       

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

       

      
        	
                SECTION
                  1412. 

              	
                Rights
                  of Holders of Senior Indebtedness Not
                  Impaired.

              

      

       

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

       

      
        	
                SECTION
                  1413. 

              	
                Effect
                  of Subordination Provisions;
                  Termination.

              

      

       

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

       

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

       

      
        
          
          

        

        
          -67-

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        FIFTEEN

       

      Immunity
        Of Incorporators, Stockholders, Officers And Directors

       

      
        	
                SECTION
                  1501. 

              	
                Liability
                  Solely Corporate.

              

      

       

      No
        recourse shall be had for the payment of the principal of or premium, if
        any, or
        interest [2(including
        Additional Interest)], if any, on any Securities, or any part thereof, or
        for
        any claim based thereon or otherwise in respect thereof, or of the indebtedness
        represented thereby, or upon any obligation, covenant or agreement under
        this
        Indenture, against any incorporator, stockholder, officer or director, as
        such,
        past, present or future of the Company or of any predecessor or successor
        of the
        Company (either directly or through the Company, or a predecessor or successor
        of the Company), whether by virtue of any constitutional provision, statute
        or
        rule of law, or by the enforcement of any assessment or penalty or otherwise;
        it
        being expressly agreed and understood that this Indenture and all the Securities
        are solely corporate obligations, and that, except as otherwise provided
        as
        contemplated by Section 301, no personal liability whatsoever shall attach
        to,
        or be incurred by, any incorporator, stockholder, officer or director, past,
        present or future, of the Company or of any predecessor or successor of the
        Company, either directly or indirectly through the Company or any predecessor
        or
        successor of the Company, because of the indebtedness hereby authorized or
        under
        or by reason of any of the obligations, covenants or agreements contained
        in
        this Indenture or in any of the Securities or to be implied herefrom or
        therefrom, and that any such personal liability is hereby expressly waived
        and
        released as a condition of, and as part of the consideration for, the execution
        of this Indenture and the issuance of the Securities.

      _________________________

       

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

       

      
        
          
          

        

        
          -68-

          
            

          

        

        
          
          

        

      

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

       

      
        
          	 	
                  FPL
                    GROUP, INC.,
as Issuer

                   

                
	 	
                  By:

                	 
	 	 	
                  Name:
                    

                
	 	 	
                  Title:
                    

                
	 	 	 
	 	
                  THE
                    BANK OF NEW YORK,
as Trustee

                   

                
	 	
                  By:

                	 
	 	 	
                  Name:
                    

                
	 	 	
                  Title:

                
	 	 	 

        

        
           

        

      

    

    
      
        
        

      

      
        -69-

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