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Exhibit 4.13

ALTRA HOLDINGS, INC.

INDENTURE

Dated as of

___

DEBT SECURITIES

[                    ]

Trustee

 


 

TABLE OF CONTENTS

 

 

 

 

 

 

 

ARTICLE I DEFINITIONS

 

 

1

 

Section 1.01

 

Definitions

 

 

1

 

ARTICLE II FORMS OF SECURITIES

 

 

8

 

Section 2.01

 

Terms of the Securities

 

 

8

 

Section 2.02

 

Form of Trustee’s Certificate of Authentication

 

 

8

 

Section 2.03

 

Form of Trustee’s Certificate of Authentication by an Authenticating Agent

 

 

8

 

ARTICLE III THE DEBT SECURITIES

 

 

9

 

Section 3.01

 

Amount Unlimited; Issuable in Series

 

 

9

 

Section 3.02

 

Denominations

 

 

11

 

Section 3.03

 

Execution, Authentication, Delivery and Dating

 

 

11

 

Section 3.04

 

Temporary Securities

 

 

12

 

Section 3.05

 

Registrar

 

 

12

 

Section 3.06

 

Transfer and Exchange

 

 

13

 

Section 3.07

 

Mutilated, Destroyed, Lost and Stolen Securities

 

 

15

 

Section 3.08

 

Payment of Interest; Interest Rights Preserved

 

 

16

 

Section 3.09

 

Cancellation

 

 

16

 

Section 3.10

 

Computation of Interest

 

 

17

 

Section 3.11

 

Currency of Payments in Respect of Securities

 

 

17

 

Section 3.12

 

Judgments

 

 

17

 

Section 3.13

 

CUSIP Numbers

 

 

17

 

ARTICLE IV REDEMPTION OF SECURITIES

 

 

18

 

Section 4.01

 

Applicability of Right of Redemption

 

 

18

 

Section 4.02

 

Selection of Securities to be Redeemed

 

 

18

 

Section 4.03

 

Notice of Redemption

 

 

18

 

Section 4.04

 

Deposit of Redemption Price

 

 

19

 

Section 4.05

 

Securities Payable on Redemption Date

 

 

19

 

Section 4.06

 

Securities Redeemed in Part

 

 

19

 

ARTICLE V SINKING FUNDS

 

 

19

 

Section 5.01

 

Applicability of Sinking Fund

 

 

19

 

Section 5.02

 

Mandatory Sinking Fund Obligation

 

 

20

 

Section 5.03

 

Optional Redemption at Sinking Fund Redemption Price

 

 

20

 

Section 5.04

 

Application of Sinking Fund Payment

 

 

20

 

ARTICLE VI PARTICULAR COVENANTS OF THE COMPANY

 

 

21

 

Section 6.01

 

Payments of Securities

 

 

21

 

Section 6.02

 

Paying Agent

 

 

21

 

Section 6.03

 

To Hold Payment in Trust

 

 

21

 

i


 

 

 

 

 

 

 

 

Section 6.04

 

Merger, Consolidation and Sale of Assets

 

 

22

 

Section 6.05

 

Compliance Certificate

 

 

23

 

Section 6.06

 

Conditional Waiver by Holders of Securities

 

 

23

 

Section 6.07

 

Statement by Officers as to Default

 

 

23

 

ARTICLE VII REMEDIES OF TRUSTEE AND SECURITYHOLDERS

 

 

23

 

Section 7.01

 

Events of Default

 

 

23

 

Section 7.02

 

Acceleration; Rescission and Annulment

 

 

25

 

Section 7.03

 

Other Remedies

 

 

25

 

Section 7.04

 

Trustee as Attorney-in-Fact

 

 

26

 

Section 7.05

 

Priorities

 

 

26

 

Section 7.06

 

Control by Securityholders; Waiver of Past Defaults

 

 

27

 

Section 7.07

 

Limitation on Suits

 

 

27

 

Section 7.08

 

Undertaking for Costs

 

 

27

 

Section 7.09

 

Remedies Cumulative

 

 

28

 

ARTICLE VIII CONCERNING THE SECURITYHOLDERS

 

 

28

 

Section 8.01

 

Evidence of Action of Securityholders

 

 

28

 

Section 8.02

 

Proof of Execution or Holding of Securities

 

 

28

 

Section 8.03

 

Persons Deemed Owners

 

 

29

 

Section 8.04

 

Effect of Consents

 

 

29

 

ARTICLE IX SECURITYHOLDERS’ MEETINGS

 

 

29

 

Section 9.01

 

Purposes of Meetings

 

 

29

 

Section 9.02

 

Call of Meetings by Trustee

 

 

29

 

Section 9.03

 

Call of Meetings by Company or Securityholders

 

 

30

 

Section 9.04

 

Qualifications for Voting

 

 

30

 

Section 9.05

 

Regulation of Meetings

 

 

30

 

Section 9.06

 

Voting

 

 

30

 

Section 9.07

 

No Delay of Rights by Meeting

 

 

31

 

ARTICLE X REPORTS BY THE COMPANY AND THE TRUSTEE AND SECURITYHOLDERS’ LISTS

 

 

31

 

Section 10.01

 

Reports by Trustee

 

 

31

 

Section 10.02

 

Reports by the Company

 

 

31

 

Section 10.03

 

Securityholders’ Lists

 

 

31

 

ARTICLE XI CONCERNING THE TRUSTEE

 

 

32

 

Section 11.01

 

Rights of Trustees; Compensation and Indemnity

 

 

32

 

Section 11.02

 

Duties of Trustee

 

 

33

 

Section 11.03

 

Notice of Defaults

 

 

34

 

Section 11.04

 

Eligibility; Disqualification

 

 

34

 

Section 11.05

 

Registration and Notice; Removal

 

 

35

 

Section 11.06

 

Successor Trustee by Appointment

 

 

35

 

Section 11.07

 

Successor Trustee by Merger

 

 

36

 

Section 11.08

 

Right to Rely on Officer’s Certificate

 

 

37

 

Section 11.09

 

Appointment of Authenticating Agent

 

 

37

 

Section 11.10

 

Communications by Securityholders with Other Securityholders

 

 

37

 

ii


 

 

 

 

 

 

 

 

ARTICLE XII SATISFACTION AND DISCHARGE; DEFEASANCE

 

 

38

 

Section 12.01

 

Applicability of Article

 

 

38

 

Section 12.02

 

Satisfaction and Discharge of Indenture

 

 

38

 

Section 12.03

 

Defeasance upon Deposit of Moneys or U.S. Government Obligations

 

 

38

 

Section 12.04

 

Repayment to Company

 

 

39

 

Section 12.05

 

Indemnity for U.S. Government Obligations

 

 

39

 

Section 12.06

 

Application of Trust Money

 

 

40

 

Section 12.07

 

Deposits of Non-U.S. Currencies

 

 

40

 

ARTICLE XIII IMMUNITY OF CERTAIN PERSONS

 

 

40

 

Section 13.01

 

No Personal Liability

 

 

40

 

ARTICLE XIV SUPPLEMENTAL INDENTURES

 

 

40

 

Section 14.01

 

Without Consent of Securityholders

 

 

40

 

Section 14.02

 

With Consent of Securityholders; Limitations

 

 

42

 

Section 14.03

 

Trustee Protected

 

 

43

 

Section 14.04

 

Effect of Execution of Supplemental Indenture

 

 

43

 

Section 14.05

 

Notation on or Exchange of Securities

 

 

43

 

Section 14.06

 

Conformity with TIA

 

 

43

 

ARTICLE XVI MISCELLANEOUS PROVISIONS

 

 

43

 

Section 15.01

 

Certificates and Opinions as to Conditions Precedent

 

 

43

 

Section 15.02

 

Trust Indenture Act Controls

 

 

44

 

Section 15.03

 

Notices to the Company and Trustee

 

 

44

 

Section 15.05

 

Legal Holiday

 

 

44

 

Section 15.06

 

Effects of Headings and Table of Contents

 

 

45

 

Section 15.07

 

Successors and Assigns

 

 

45

 

Section 15.08

 

Separability Clause

 

 

45

 

Section 15.09

 

Benefits of Indenture

 

 

45

 

Section 15.10

 

Counterparts Originals

 

 

45

 

Section 15.11

 

Governing Law; Waiver of Trial by Jury

 

 

45

 

iii


 

     INDENTURE dated as of                      ___, ___, among Altra Holdings, Inc., a Delaware corporation (the “Company”), and                                             , a national banking association organized under the laws of the United States, as trustee (the “Trustee”).

WITNESSETH:

     WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of debentures, notes, bonds or other evidences of indebtedness (the “Securities”) in an unlimited aggregate principal amount to be issued from time to time in one or more series as provided in this Indenture; and

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

     NOW, THEREFORE, THIS INDENTURE WITNESSETH: That, in consideration of the premises and the purchase of the Securities by the Holders thereof for the equal and proportionate benefit of all of the present and future Holders of the Securities, each party agrees and covenants as follows:

ARTICLE I

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; and

     (c) 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.

     (d) References to “Article” or “Section” or other subdivision herein are references to an Article, Section or other subdivision of the Indenture, unless the context otherwise requires.

     Section 1.01 Definitions.

     (a) Unless otherwise defined in this Indenture or the context otherwise requires, all terms used herein shall have the meanings assigned to them in the Trust Indenture Act.

     (b) Unless the context otherwise requires, the terms defined in this Section 1.01(b) shall for all purposes of this Indenture have the meanings hereinafter set forth, the following definitions to be equally applicable to both the singular and the plural forms of any of the terms herein defined:

      Affiliate:

     The term “Affiliate,” with respect to any specified Person shall mean 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:

     The term “Authenticating Agent” shall have the meaning assigned to it in Section 11.09.

1


 

      Board of Directors:

     The term “Board of Directors” shall mean either the board of directors of the Company or the executive or any other committee of that board duly authorized to act in respect hereof.

      Board Resolution:

     The term “Board Resolution” shall mean a copy of a resolution or resolutions certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors (or by a committee of the Board of Directors to the extent that any such other committee has been authorized by the Board of Directors to establish or approve the matters contemplated) and to be in full force and effect on the date of such certification and delivered to the Trustee.

      Business Day:

     The term “Business Day,” when used with respect to any Place of Payment or any other particular location referred to in this Indenture or in the Securities, shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment or other location are authorized or obligated by law or executive order to close.

      Capital Stock:

     The term “Capital Stock” shall mean:

     (a) in the case of a corporation, corporate stock;

     (b) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock;

     (c) in the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership interests; and

     (d) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock.

      Code:

     The term “Code” shall mean the Internal Revenue Code of 1986 as in effect on the date hereof.

      Company:

     The term “Company” shall mean 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 Order:

     The term “Company Order” shall mean a written order signed in the name of the Company by the Chairman, Chief Executive Officer, President, Chief Financial Officer, any Vice President, Treasurer, any Assistant Treasurer, Secretary or any Assistant Secretary of the Company, and delivered to the Trustee.

      Corporate Trust Office:

     The term “Corporate Trust Office,” or other similar term, shall mean the principal office of the Trustee at which at any particular time its corporate trust business shall be administered, which office at the date hereof is located at [                  ], or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust officer of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Holders and the Company).

2


 

      Currency:

     The term “Currency” shall mean U.S. Dollars or Foreign Currency.

      Default:

     The term “Default” shall have the meaning assigned to it in Section 11.03.

      Defaulted Interest:

     The term “Defaulted Interest” shall have the same meaning assigned to it in Section 3.08(b).

      Depositary:

     The term “Depositary” shall mean, with respect to the Securities of any series issuable in whole or in part in the form of one or more Global Securities, the Person designated as Depositary by the Company pursuant to Section 3.01 until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Depositary” shall mean or include each Person who is then a Depositary hereunder, and if at any time there is more than one such Person, “Depositary” as used with respect to the Securities of any such series shall mean the Depositary with respect to the Securities of that series.

      Designated Currency:

     The term “Designated Currency” shall have the same meaning assigned to it in Section 3.12.

      Discharged:

     The term “Discharged” shall have the meaning assigned to it in Section 12.03.

      Event of Default:

     The term “Event of Default” shall have the meaning specified in Section 7.01.

      Exchange Act:

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

      Exchange Rate:

     The term “Exchange Rate” shall have the meaning assigned to it in Section 7.01.

      Floating Rate Security:

     The term “Floating Rate Security” shall mean a Security that provides for the payment of interest at a variable rate determined periodically by reference to an interest rate index specified pursuant to Section 3.01.

      Foreign Currency:

     The term “Foreign Currency” shall mean a currency issued by the government of any country other than the United States or a composite currency, the value of which is determined by reference to the values of the currencies of any group of countries.

      GAAP:

     The term “GAAP,” with respect to any computation required or permitted hereunder, shall mean generally accepted accounting principles in effect in the United States as in effect from time to time, including, without limitation, those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as approved by a significant segment of the accounting profession.

3


 

      Global Security:

     The term “Global Security” shall mean any Security that evidences all or part of a series of Securities, issued in fully-registered certificated form to the Depositary for such series in accordance with Section 3.03 and bearing the legend prescribed in Section 3.03(g).

      Holder; Holder of Securities:

     The terms “Holder” and “Holder of Securities” are defined under “Securityholder; Holder of Securities; Holder.”

      Indebtedness:

     The term “Indebtedness” shall mean any and all obligations of a Person for money borrowed which, in accordance with GAAP, would be reflected on the balance sheet of such Person as a liability on the date as of which Indebtedness is to be determined.

      Indenture:

     The term “Indenture” or “this Indenture” shall mean this instrument and all indentures supplemental hereto.

      Interest:

     The term “interest” shall mean, with respect to an Original Issue Discount Security that by its terms bears interest only after Maturity, interest payable after Maturity.

      Interest Payment Date:

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

      Mandatory Sinking Fund Payment:

     The term “Mandatory Sinking Fund Payment” shall have the meaning assigned to it in Section 5.01.

      Maturity:

     The term “Maturity,” with respect to any Security, shall mean the date on which the principal of such Security shall become due and payable as therein and herein provided, whether by declaration, call for redemption or otherwise.

      Members:

     The term “Members” shall have the meaning assigned to it in Section 3.03(i).

      Officer’s Certificate:

     The term “Officer’s Certificate” shall mean a certificate signed by any of the Chairman of the Board of Directors, Chief Executive Officer, President, Chief Financial Officer, any Vice President, Treasurer, any Assistant Treasurer, Secretary or any Assistant Secretary of the Company and delivered to the Trustee. Each such certificate shall include the statements provided for in Section 15.01 if and to the extent required by the provisions of such Section.

      Opinion of Counsel:

     The term “Opinion of Counsel” shall mean an opinion in writing signed by legal counsel, who may be an employee of or of counsel to the Company, or may be other counsel that meets the requirements provided for in Section 15.01.

4


 

      Optional Sinking Fund Payment:

     The term “Optional Sinking Fund Payment” shall have the meaning assigned to it in Section 5.01.

      Original Issue Discount Security:

     The term “Original Issue Discount Security” shall mean any Security that is issued with “original issue discount” within the meaning of Section 1273(a) of the Code and the regulations thereunder and any other Security designated by the Company as issued with original issue discount for United States federal income tax purposes.

      Outstanding:

     The term “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 by the Trustee or delivered to the Trustee for cancellation;

     (b) Securities or portions thereof for which payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities or Securities as to which the Company’s obligations have been Discharged; provided, however, that if such Securities or portions thereof are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; and

     (c) Securities that have been paid pursuant to Section 3.07(b) 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 a Responsible Officer of the Trustee proof satisfactory to it that such Securities are held by a protected purchaser in whose hands such Securities are valid obligations of the Company; provided, however, that in determining whether the Holders of the requisite principal amount of Securities of a series Outstanding have performed any action hereunder, Securities owned by the Company or any other obligor upon the Securities of such series or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such action, only Securities of such series that a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so owned that 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 to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon such Securities or any Affiliate of the Company or of such other obligor. In determining whether the Holders of the requisite principal amount of Outstanding Securities of a series have performed any action hereunder, the principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding for such purpose 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 7.02 and the principal amount of a Security denominated in a Foreign Currency that shall be deemed to be Outstanding for such purpose shall be the amount calculated pursuant to Section 3.11(b).

      Paying Agent:

     The term “Paying Agent” shall have the meaning assigned to it in Section 6.02(a).

      Person:

     The term “Person” shall mean an individual, a corporation, a limited liability company, a partnership, an association, a joint stock company, a trust, an unincorporated organization or a government or an agency or political subdivision thereof.

      Place of Payment:

     The term “Place of Payment” shall mean, when used with respect to the Securities of any series, the place or places where the principal of and premium, if any, and interest on the Securities of that series are payable as specified pursuant to Section 3.01.

5


 

      Predecessor Security:

     The term “Predecessor Security” shall mean, with respect to any Security, every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security, and, for the purposes of this definition, any Security authenticated and delivered under Section 3.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security.

      Record Date:

     The term “Record Date” shall mean, with respect to any interest payable on any Security on any Interest Payment Date, the close of business on any date specified in such Security for the payment of interest pursuant to Section 3.01.

      Redemption Date:

     The term “Redemption Date” shall mean, when used with respect to any Security to be redeemed, in whole or in part, the date fixed for such redemption by or pursuant to this Indenture and the terms of such Security, which, in the case of a Floating Rate Security, unless otherwise specified pursuant to Section 3.01, shall be an Interest Payment Date only.

      Redemption Price:

     The term “Redemption Price,” when used with respect to any Security to be redeemed, in whole or in part, shall mean the price at which it is to be redeemed pursuant to the terms of the Security and this Indenture.

      Register:

     The term “Register” shall have the meaning assigned to it in Section 3.05(a).

      Registrar:

     The term “Registrar” shall have the meaning assigned to it in Section 3.05(a).

      Responsible Officers:

     The term “Responsible Officers” of the Trustee hereunder shall mean any vice president, any assistant vice president, any trust officer, any assistant trust officer or any other officer associated with the corporate trust department 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 of the Trustee to whom such matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture.

      SEC:

     The term “SEC” shall mean the U.S. Securities and Exchange Commission, as constituted from time to time.

      Securities Act:

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

      Security:

     The term “Security” or “Securities” shall have the meaning stated in the recitals and shall more particularly mean one or more of the Securities duly authenticated by the Trustee and delivered pursuant to the provisions of this Indenture.

      Security Custodian:

     The term “Security Custodian” shall mean the custodian with respect to any Global Security appointed by the Depositary, or any successor Person thereto, and shall initially be the Paying Agent.

6


 

      Securityholder; Holder of Securities; Holder:

     The term “Securityholder” or “Holder of Securities” or “Holder,” shall mean the Person in whose name Securities shall be registered in the Register kept for that purpose hereunder.

      Special Record Date:

     The term “Special Record Date” shall have the meaning assigned to it in Section 3.08(b)(i).

      Stated Maturity:

     The term “Stated Maturity” when used with respect to any Security or any installment of interest thereon, shall mean the date specified in such Security as the fixed date on which the principal (or any portion thereof) of or premium, if any, on such Security or such installment of interest is due and payable.

      Subsidiary:

     The term “Subsidiary,” when used with respect to any Person, shall mean:

     (a) any corporation, limited liability company, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and

     (b) any partnership (i) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (ii) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof).

      Successor Company:

     The term “Successor Company” shall have the meaning assigned to it in Section 3.06(i).

      Trade Payables:

     The term “Trade Payables” means accounts payable or any other Indebtedness or monetary obligations to trade creditors created or assumed by the Company or any Subsidiary of the Company in the ordinary course of business (including guarantees thereof or instruments evidencing such liabilities).

      Trust Indenture Act; TIA:

     The term “Trust Indenture Act” or “TIA” shall mean the Trust Indenture Act of 1939, as amended.

      Trustee:

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

      U.S. Dollars:

     The term “U.S. Dollars” shall mean such currency of the United States as at the time of payment shall be legal tender for the payment of public and private debts.

      U.S. Government Obligations:

     The term “U.S. Government Obligations” shall mean (i) direct non-callable obligations of, or guaranteed by, the United States or (ii) obligations of a Person controlled or supervised by and acting as an agency or

7


 

instrumentality of the United States, in either case, for the payment of which guarantee or obligation the full faith and credit of the United States is pledged.

      United States:

     The term “United States” shall mean the United States of America (including the States and the District of Columbia), its territories and its possessions and other areas subject to its jurisdiction.

ARTICLE II

FORMS OF SECURITIES

     Section 2.01 Terms of the Securities .

     (a) The Securities of each series shall be substantially in the form set forth in a Company Order or in one or more indentures supplemental hereto, and shall have such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification or designation and such legends or endorsements placed thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange on which any series of the Securities may be listed or of any automated quotation system on which any such series may be quoted, or to conform to usage, all as determined by the officers executing such Securities as conclusively evidenced by their execution of such Securities.

     (b) The terms and provisions of the Securities shall constitute, and are hereby expressly made, a part of this Indenture, and, to the extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture expressly agree to such terms and provisions and to be bound thereby.

     Section 2.02 Form of Trustee’s Certificate of Authentication .

     (a) Only such of the Securities as shall bear thereon a certificate substantially in the form of the Trustee’s certificate of authentication hereinafter recited, executed by the Trustee by manual signature, shall be valid or become obligatory for any purpose or entitle the Holder thereof to any right or benefit under this Indenture.

     (b) Each Security shall be dated the date of its authentication, except that any Global Security shall be dated as of the date specified as contemplated in Section 3.01.

     (c) The form of the Trustee’s certificate of authentication to be borne by the Securities shall be substantially as follows:

     TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

 

 

 

 

 

Date of authentication:                       


[          ]., as Trustee
 

 

 

By:  

 

 

 

 

Authorized Signatory 

 

 

 

 

 

 

     Section 2.03 Form of Trustee’s Certificate of Authentication by an Authenticating Agent . If at any time there shall be an Authenticating Agent appointed with respect to any series of Securities, then the Trustee’s Certificate of Authentication by such Authenticating Agent to be borne by Securities of each such series shall be substantially as follows:

     TRUSTEE’S CERTIFICATE OF AUTHENTICATION

     This is one of the Securities issued referred to in the within-mentioned Indenture.

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Date of authentication:                         

[           ], as Trustee
 

 

 

By:  

 

 

 

 

as Authenticating Agent 

 

 


  

 

 

 

 

Authorized Signatory 

 

 

 

 

 

 

ARTICLE III

THE DEBT SECURITIES

     Section 3.01 Amount Unlimited; Issuable in Series . The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more series. There shall be set forth in a Company Order or in one or more indentures supplemental hereto, prior to the issuance of Securities of any series:

     (a) the title of the Securities of the series (which shall distinguish the Securities of such series from the Securities of all other series, except to the extent that additional Securities of an existing series are being issued);

     (b) any limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon transfer of, or in exchange for, or in lieu of, other Securities of such series pursuant to Section 3.04, 3.06, 3.07, 4.06, or 14.05);

     (c) the dates on which or periods during which the Securities of the series may be issued, and the dates on, or the range of dates within, which the principal of and premium, if any, on the Securities of such series are or may be payable or the method by which such date or dates shall be determined or extended;

     (d) the rate or rates at which the Securities of the series shall bear interest, if any, or the method by which such rate or rates shall be determined, the date or dates from which such interest shall accrue, or the method by which such date or dates shall be determined, the Interest Payment Dates on which any such interest shall be payable, and the Record Dates for the determination of Holders to whom interest is payable on such Interest Payment Dates or the method by which such date or dates shall be determined, the right, if any, to extend or defer interest payments and the duration of such extension or deferral;

     (e) if other than U.S. Dollars, the Currency in which Securities of the series shall be denominated or in which payment of the principal of, premium, if any, or interest on the Securities of the series shall be payable and any other terms concerning such payment;

     (f) if the amount of payment of principal of, premium, if any, or interest on the Securities of the series may be determined with reference to an index, formula or other method including, but not limited to, an index based on a Currency or Currencies other than that in which the Securities are stated to be payable, the manner in which such amounts shall be determined;

     (g) if the principal of, premium, if any, or interest on Securities of the series are to be payable, at the election of the Company or a Holder thereof, in a Currency other than that in which the Securities are denominated or stated to be payable without such election, the period or periods within which, and the terms and conditions upon which, such election may be made and the time and the manner of determining the exchange rate between the Currency in which the Securities are denominated or payable without such election and the Currency in which the Securities are to be paid if such election is made;

     (h) the place or places, if any, in addition to or instead of the Corporate Trust Office of the Trustee where the principal of, premium, if any, and interest on Securities of the series shall be payable, and where Securities of any series may be presented for registration of transfer, exchange or conversion, and the place or places where notices and demands to or upon the Company in respect of the Securities of such series may be made;

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

     (j) the obligation or right, if any, of the Company to redeem, purchase or repay Securities of the series pursuant to any sinking fund, amortization or analogous provisions or at the option of a Holder thereof and the price or prices at which, the period or periods within which or the date or dates on which, the Currency or Currencies in which and the terms and conditions upon which Securities of the series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation;

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

     (l) if other than the principal amount thereof, the portion of the principal amount of the Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 7.02;

     (m) whether the Securities of the series are to be issued as Original Issue Discount Securities and the amount of discount with which such Securities may be issued;

     (n) provisions, if any, for the defeasance of Securities of the series in whole or in part and any addition or change in the provisions related to satisfaction and discharge;

     (o) whether the Securities of the series are to be issued in whole or in part in the form of one or more Global Securities and, in such case, the Depositary for such Global Security or Securities and the terms and conditions, if any, upon which interests in such Global Security or Securities may be exchanged in whole or in part for the individual Securities represented thereby;

     (p) the date as of which any Global Security of the series shall be dated if other than the original issuance of the first Security of the series to be issued;

     (q) the form of the Securities of the series;

     (r) if the Securities of the series are to be convertible into or exchangeable for any securities or property of any Person (including the Company), the terms and conditions upon which such Securities will be so convertible or exchangeable, and any additions or changes, if any, to permit or facilitate such conversion or exchange;

     (s) whether the Securities of such series are subject to subordination and the terms of such subordination;

     (t) any restriction or condition on the transferability of the Securities of such series;

     (u) any addition or change in the provisions related to compensation and reimbursement of the Trustee which applies to Securities of such series;

     (v) any addition or change in the provisions related to supplemental indentures set forth in Sections 14.04 and 14.02 which applies to Securities of such series;

     (w) provisions, if any, granting special rights to Holders upon the occurrence of specified events;

     (x) any addition to or change in the Events of Default which applies to any Securities of the series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 7.02 and any addition or change in the provisions set forth in Article VII which applies to Securities of the series;

     (y) any addition to or change in the covenants set forth in Article VI which applies to Securities of the series; and

     (z) any other terms of the Securities of such series (which terms shall not be inconsistent with the provisions of this Indenture, except as permitted by Section 14.01).

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     All Securities of any one series shall be substantially identical, except as to denomination and except as may otherwise be provided herein or set forth in a Company Order or in one or more indentures supplemental hereto.

     Section 3.02 Denominations . In the absence of any specification pursuant to Section 3.01 with respect to Securities of any series, the Securities of such series shall be issuable only as Securities in denominations of any integral multiple of $1,000, and shall be payable only in U.S. Dollars.

     Section 3.03 Execution, Authentication, Delivery and Dating .

     (a) The Securities shall be executed in the name and on behalf of the Company by the manual or facsimile signature of its Chairman of the Board of Directors, Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer, one of its Vice Presidents or Treasurer. If the Person whose signature is on a Security no longer holds that office at the time the Security is authenticated and delivered, the Security shall nevertheless be valid.

     (b) At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities and, if required pursuant to Section 3.01, a supplemental indenture or Company Order setting forth the terms of the Securities of a series. The Trustee shall thereupon authenticate and deliver such Securities without any further action by the Company. The Company Order shall specify the amount of Securities to be authenticated and the date on which the original issue of Securities is to be authenticated.

     (c) In authenticating the first Securities of any series and accepting the additional responsibilities under this Indenture in relation to such Securities the Trustee shall receive, and (subject to Section 11.02) shall be fully protected in relying upon an Officer’s Certificate and an Opinion of Counsel, each prepared in accordance with Section 15.01 stating that the conditions precedent, if any, provided for in the Indenture have been complied with.

     (d) The Trustee shall have the right to decline to authenticate and deliver the Securities under this Section 3.03 if the issue of the Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee.

     (e) Each Security shall be dated the date of its authentication, except as otherwise provided pursuant to Section 3.01 with respect to the Securities of such series.

     (f) Notwithstanding the provisions of Section 3.01 and of this Section 3.03, if all of the Securities of any series are not to be originally issued at the same time, then the documents required to be delivered pursuant to this Section 3.03 must be delivered only once prior to the authentication and delivery of the first Security of such series;

     (g) If the Company shall establish pursuant to Section 3.01 that the Securities of a series are to be issued in whole or in part in the form of one or more Global Securities, then the Company shall execute and the Trustee shall authenticate and deliver one or more Global Securities that (i) shall represent an aggregate amount equal to the aggregate principal amount of the Outstanding Securities of such series to be represented by such Global Securities, (ii) shall be registered, if in registered form, in the name of the Depositary for such Global Security or Securities or the nominee of such Depositary, (iii) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s instruction and (iv) shall bear a legend substantially to the following effect:

     “Unless and until it is exchanged in whole or in part for the individual Securities represented hereby, this Global Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.”

     The aggregate principal amount of each Global Security may from time to time be increased or decreased by adjustments made on the records of the Security Custodian, as provided in this Indenture.

     (h) Each Depositary designated pursuant to Section 3.01 for a Global Security in registered form must, at the time of its designation and at all times while it serves as such Depositary, be a clearing agency registered under the Exchange Act and any other applicable statute or regulation.

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

     (j) 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 one of the forms provided for herein duly executed by the Trustee or by an Authenticating Agent by manual or facsimile signature of an authorized signatory of the Trustee, 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.

     Section 3.04 Temporary Securities .

     (a) Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities that are printed, lithographed, typewritten, mimeographed or otherwise reproduced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued, in registered form and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as conclusively evidenced by their execution of such Securities. Any such temporary Security may be in global form, representing all or a portion of the Outstanding Securities of such series. Every such temporary Security shall be executed by the Company and shall be authenticated and delivered by the Trustee upon the same conditions and in substantially the same manner, and with the same effect, as the definitive Security or Securities in lieu of which it is issued.

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

     (c) Upon any exchange of a portion of a temporary Global Security for a definitive Global Security or for the individual Securities represented thereby pursuant to this Section 3.04 or Section 3.06, the temporary Global Security shall be endorsed by the Trustee to reflect the reduction of the principal amount evidenced thereby, whereupon the principal amount of such temporary Global Security shall be reduced for all purposes by the amount so exchanged and endorsed.

     Section 3.05 Registrar .

     (a) The Company will keep, at an office or agency to be maintained by it in a Place of Payment where Securities may be presented for registration or presented and surrendered for registration of transfer or of exchange, and where Securities of any series that are convertible or exchangeable may be surrendered for conversion or exchange, as applicable (the “Registrar”), a security register for the registration and the registration of transfer or of exchange of the Securities (the registers maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Register”), as in this Indenture

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provided, which Register shall at all reasonable times be open for inspection by the Trustee. Such Register shall be in written form or in any other form capable of being converted into written form within a reasonable time. The Company may have one or more co-Registrars; the term “Registrar” includes any co-registrar.

     (b) The Company shall enter into an appropriate agency agreement with any Registrar or co-Registrar not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee of the name and address of each such agent. If the Company fails to maintain a Registrar for any series, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 11.01. The Company or any Affiliate thereof may act as Registrar, co-Registrar or transfer agent.

     (c) The Company hereby appoints the Trustee at its Corporate Trust Office as Registrar in connection with the Securities and this Indenture, until such time as another Person is appointed as such.

     Section 3.06 Transfer and Exchange .

     (a) Transfer.

     (i) Upon surrender for registration of transfer of any Security of any series at the Registrar the Company shall execute, and the Trustee or any Authenticating Agent shall authenticate and deliver, in the name of the designated transferee, one or more new Securities of the same series for like aggregate principal amount of any authorized denomination or denominations. The transfer of any Security shall not be valid as against the Company or the Trustee unless registered at the Registrar at the request of the Holder, or at the request of his, her or its attorney duly authorized in writing.

     (ii) Notwithstanding any other provision of this Section, unless and until it is exchanged in whole or in part for the individual Securities represented thereby, a Global Security representing all or a portion of the Securities of a series may not be transferred except as a whole by the Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor Depositary.

     (b) Exchange.

     (i) At the option of the Holder, Securities of any series (other than a Global Security, except as set forth below) may be exchanged for other Securities of the same series for like aggregate principal amount of any authorized denomination or denominations, upon surrender of the Securities to be exchanged at the Registrar.

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

     (c) Exchange of Global Securities for Individual Securities. Except as provided below, owners of beneficial interests in Global Securities will not be entitled to receive individual Securities.

     (i) Individual Securities shall be issued to all owners of beneficial interests in a Global Security in exchange for such interests if: (A) at any time the Depositary for the Securities of a series notifies the Company that it is unwilling or unable to continue as Depositary for the Securities of such series or if at any time the Depositary for the Securities of such series shall no longer be eligible under Section 3.03(h) and, in each case, a successor Depositary is not appointed by the Company within 90 days of such notice, or (B) the Company executes and delivers to the Trustee and the Registrar an Officer’s Certificate stating that such Global Security shall be so exchangeable.

     In connection with the exchange of an entire Global Security for individual Securities pursuant to this subsection (c), such Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of individual Securities of such series, will authenticate and deliver to each beneficial owner identified by the Depositary in exchange for its beneficial interest in such Global Security, an equal aggregate principal amount of individual Securities of authorized denominations.

     (ii) The owner of a beneficial interest in a G


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