EXHIBIT 4.3
CONSOLIDATED NATURAL GAS COMPANY
Issuer
TO
BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION
Trustee
_________________________
First Supplemental Indenture
Dated as of _____ __, 200
_________________________
$____,___,___
_____ Series __ __% Senior Notes,
due _____ __, 20
TABLE OF CONTENTS/1/
ARTICLE I
_____ SERIES __ __% SENIOR NOTES
SECTION 101. Establishment........................................... 1
SECTION 102. Definitions 2
SECTION 103. Payment of Principal and Interest....................... 4
SECTION 104. Denominations........................................... 5
SECTION 105. Global Securities....................................... 5
SECTION 106. Redemption.............................................. 6
SECTION 107. Sinking Fund............................................ 6
SECTION 108. Additional Interest..................................... 6
SECTION 109. Paying Agent............................................ 6
ARTICLE II
MISCELLANEOUS PROVISIONS
SECTION 201. Recitals by Company..................................... 7
SECTION 202. Ratification and Incorporation of Original Indenture.... 7
SECTION 203. Executed in Counterparts................................ 7
SECTION 204. Assignment.............................................. 7
_____________________
/1/ This Table of Contents does not constitute part of the Indenture or
have any bearing upon the interpretation of any of its terms and provisions.
THIS FIRST SUPPLEMENTAL INDENTURE is made as of the first day of ____,
200_, by and between CONSOLIDATED NATURAL GAS COMPANY, a Delaware corporation,
having its principal office at ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
(the "Company"), and BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee
(herein called the "Trustee").
W I T N E S S E T H:
WHEREAS, the Company has heretofore entered into a Senior Indenture, dated
as of _____ __, 200 (the "Original Indenture"), with the Trustee;
WHEREAS, the Original Indenture is incorporated herein by this reference
and the Original Indenture, as supplemented by this First Supplemental
Indenture, is herein called the "Indenture";
WHEREAS, under the Original Indenture, a new series of Securities may at
any time be established in accordance with the provisions of the Original
Indenture and the terms of such series may be described by a supplemental
indenture executed by the Company and the Trustee;
WHEREAS, the Company proposes to create under the Indenture a series of
Securities;
WHEREAS, additional Securities of other series hereafter established,
except as may be limited in the Original Indenture as at the time supplemented
and modified, may be issued from time to time pursuant to the Indenture as at
the time supplemented and modified; and
WHEREAS, all conditions necessary to authorize the execution and delivery
of this First Supplemental Indenture and to make it a valid and binding
obligation of the Company have been done or performed.
NOW, THEREFORE, in consideration of the agreements and obligations set
forth herein and for other good and valuable consideration, the sufficiency of
which is hereby acknowledged, the parties hereto hereby agree as follows:
ARTICLE I
_____ SERIES __ __% SENIOR NOTES
SECTION 101. Establishment. There is hereby established a new series of
-------------
Securities to be issued under the Indenture, to be designated as the Company's
_____ Series __ __% Senior Notes, due _____ __, 20 (the "Series __ Senior
Notes").
There are to be initially authenticated and delivered $____,___,___
principal amount of Series __ Senior Notes. Additional Series __ Senior Notes
without limitation as to amount, and without the consent of the Holders of the
then Outstanding Series __ Senior Notes, may also be authenticated and delivered
in the manner provided in Section 303 of the Original Indenture. Any such
additional Series __ Senior Notes will have the same interest rate, maturity and
other
terms as those initially issued. Further Series __ Senior Notes may be also
authenticated and delivered as provided by Sections 304, 305, 306, 905 or 1107
of the Original Indenture.
The Series __ Senior Notes shall be issued in definitive fully registered
form without coupons, in substantially the form set out in Exhibit A hereto.
---------
The entire initially issued principal amount of the Series __ Senior Notes shall
initially be evidenced by one or more certificates issued to Cede & Co., as
nominee for The Depository Trust Company.
The form of the Trustee's Certificate of Authentication for the Series __
Senior Notes shall be in substantially the form set forth in Exhibit B hereto.
---------
Each Series __ Senior Note shall be dated the date of authentication
thereof and shall bear interest from the date of original issuance thereof or
from the most recent Interest Payment Date to which interest has been paid or
duly provided for.
SECTION 102. Definitions. The following defined terms used herein
-----------
shall, unless the context otherwise requires, have the meanings specified below.
Capitalized terms used herein for which no definition is provided herein shall
have the meanings set forth in the Original Indenture.
"Adjusted Treasury Rate" means, with respect to any Redemption Date: (i)
the yield, under the heading which represents the average for the immediately
preceding week, appearing in the most recently published statistical release
designated "H.15(519)" or any successor publication which is published weekly by
the Board of Governors of the Federal Reserve System and which establishes
yields on actively traded United States Treasury securities adjusted to constant
maturity under the caption "Treasury Constant Maturities," for the maturity
corresponding to the Comparable Treasury Issue (if no maturity is within three
months before or after the Remaining Life, yields for the two published
maturities most closely corresponding to the Comparable Treasury Issue shall be
determined and the adjusted Treasury Rate shall be interpolated or extrapolated
from such yields on a straight line basis, rounding to the nearest month); or
(ii) if such release (or any successor release) is not published during the week
preceding the calculation date or does not contain such yields, the rate per
annum equal to the semi-annual equivalent yield to maturity of the Comparable
Treasury Issue, calculated using a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such Redemption Date.
"Business Day" means a day other than (i) a Saturday or a Sunday, (ii) a
day on which banks in New York, New York are authorized or obligated by law or
executive order to remain closed or (iii) a day on which the Corporate Trust
Office is closed for business.
"Comparable Treasury Issue" means the United States Treasury security
selected by an Independent Investment Banker as having a maturity comparable to
the remaining term of the Series __ Senior Notes to be redeemed that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such Series __ Senior Notes ("Remaining
Life").
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"Comparable Treasury Price" means (i) the average of five Reference
Treasury Dealer Quotations for such Redemption Date, after excluding the highest
and lowest Reference Treasury Dealer Quotations, or (ii) if the Independent
Investment Banker obtains fewer than five such Reference Treasury Dealer
Quotations, the average of all such quotations.
"Independent Investment Banker" means either ________ or __________ and
their respective successors as selected by the Company, or if both firms are
unwilling or unable to serve as such, an independent investment and banking
institution of national standing appointed by the Company.
"Interest Payment Dates" means _____ __, and _____ __ of each year,
commencing on _____ __, 20.
"Original Issue Date" means ____ __, _____.
"Outstanding", when used with respect to the Series __ Senior Notes, means,
as of the date of determination, all Series __ Senior Notes, theretofore
authenticated and delivered under the Indenture, except:
(i) Series __ Senior Notes theretofore canceled by the Trustee or
delivered to the Trustee for cancellation;
(ii) Series __ Senior Notes for whose payment at Maturity the
necessary amount of money or money's worth has been theretofore deposited (other
than pursuant to Section 402) 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 Series __
Senior Notes.
(iii) Series __ Senior Notes with respect to which the Company has
effected defeasance or covenant defeasance has been effected pursuant to Section
402 of the Original Indenture; and
(iv) Series __ Senior Notes that have been paid pursuant to Section
306 or in exchange for or in lieu of which other Series __ Senior Notes have
been authenticated and delivered pursuant to the Indenture, other than any such
Series __ Senior Notes in respect of which there shall have been presented to
the Trustee proof satisfactory to it that such Series __ Senior Notes are held
by a bona fide purchaser in whose hands such Series __ Senior Notes are valid
obligations of the Company;
provided, however, that in determining whether the Holders of the requisite
principal amount of Outstanding Series __ Senior Notes have given any request,
demand, authorization, direction, notice, consent or waiver hereunder or are
present at a meeting of Holders of Series __ Senior Notes for quorum purposes,
Series __ Senior Notes owned by the Company or any other obligor upon the Series
__ Senior Notes or any Affiliate of the Company or such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining
whether the Trustee shall be protected in making any such determination or
relying upon any such request, demand, authorization, direction, notice, consent
or waiver, only Series __ Senior Notes which a Responsible Officer of the
Trustee knows to be so owned shall be so disregarded. Series __
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Senior Notes so owned which shall have been pledged in good faith may be
regarded as Outstanding if the pledgee establishes to the satisfaction of the
Trustee (A) the pledgee's right so to act with respect to such Series __ Senior
Notes and (B) that the pledgee is not the Company or any other obligor upon the
Series __ Senior Notes or an Affiliate of the Company or such other obligor.
"Reference Treasury Dealer" means: (i) each of ____________, and
____________, and their respective successors; provided that, if any of the
foregoing ceases to be a primary U.S. Government securities dealer in New York
City (a "Primary Treasury Dealer"), the Company shall substitute another Primary
Treasury Dealer; and (ii) up to three other Primary Treasury Dealers selected by
the Company.
"Reference Treasury Dealer Quotations" means, with respect to each
Reference Treasury Dealer and any Redemption Date, the average, as determined by
the Independent Investment Banker, of the bid and asked prices for the
Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Independent Investment Banker at 5:00
p.m., New York City time, on the third Business Day preceding such Redemption
Date.
"Regular Record Date" means, with respect to each Interest Payment Date,
the close of business on the 15th calendar day preceding such Interest Payment
Date.
"Stated Maturity" means _____ __, 20.
SECTION 103. Payment of Principal and Interest. The principal of the
---------------------------------
Series __ Senior Notes shall be due at the Stated Maturity (unless earlier
redeemed). The unpaid principal amount of the Series __ Senior Notes shall bear
interest at the rate of ___ per annum until paid or duly provided for, such
interest to accrue from the Original Issue Date or from the most recent Interest
Payment Date to which interest has been paid or duly provided for. Interest
shall be paid semi-annually in arrears on each Interest Payment Date to the
Person in whose name the Series __ Senior Notes are registered on the Regular
Record Date for such Interest Payment Date; provided that interest payable at
the Stated Maturity of principal or on a Redemption Date as provided herein will
be paid to the Person to whom principal is payable. Any such interest that is
not so punctually paid or duly provided for will forthwith cease to be payable
to the Holders on such Regular Record Date and may either be paid to the Person
or Persons in whose name the Series __ Senior Notes are registered at the close
of business on a Special Record Date for the payment of such defaulted interest
to be fixed by the Trustee (in accordance with Section 307 of the Original
Indenture), notice whereof shall be given to Holders of the Series __ Senior
Notes not less than ten (10) days prior to such Special Record Date, or be paid
at any time in any other lawful manner not inconsistent with the requirements of
any securities exchange, if any, on which the Series __ Senior Notes may be
listed, and upon such notice as may be required by any such exchange, all as
more fully provided in the Original Indenture.
Payments of interest on the Series __ Senior Notes will include interest
accrued to but excluding the respective Interest Payment Dates. Interest
payments for the Series __ Senior Notes shall be computed and paid on the basis
of a 360-day year of twelve 30-day months. If any date on which interest is
payable on the Series __ Senior Notes is not a Business Day, then payment of the
interest payable on such date will be made on the next succeeding day that is a
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Business Day (and without any interest or payment in respect of any such delay),
in each case with the same force and effect as if made on the date the payment
was originally payable.
Payment of the principal and interest on the Series __ Senior Notes shall
be made at the office of the Paying Agent in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts, with any such payment that is due at the Stated
Maturity of any Series __ Senior Notes or on a Redemption Date being made upon
surrender of such Series __ Senior Notes to the Paying Agent. Payments of
interest (including interest on any Interest Payment Date) will be made, subject
to such surrender where applicable, at the option of the Company, (i) by check
mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register or (ii) by wire transfer at such place and to
such account at a banking institution in the United States as may be designated
in writing to the Trustee at least sixteen (16) days prior to the date for
payment by the Person entitled thereto. If any date on which principal and
interest is payable on the Series __ Senior Notes is not a Business Day, then
payment of the principal and interest payable on such date will be made on the
next succeeding day that is a Business Day (and without any interest or payment
in respect of any such delay), in each case with the same force and effect as if
made on the date the payment was originally payable.
SECTION 104. Denominations. The Series __ Senior Notes may be issued in
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denominations of $1,000, or any integral multiple thereof.
SECTION 105. Global Securities. The Series __ Senior Notes will be issued
-----------------
initially in the form of one or more Global Securities registered in the name of
the Depositary (which shall be The Depository Trust Company) or its nominee.
Except under the limited circumstances described below, Series __ Senior Notes
represented by such Global Securities will not be exchangeable for, and will not
otherwise be issuable as, Series __ Senior Notes in definitive form. The Global
Securities described above may not be transferred except 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 to a successor Depositary or its nominee.
Owners of beneficial interests in such a Global Security will not be
considered the Holders thereof for any purpose under the Indenture, and no
Global Security representing a Series __ Senior Note shall be exchangeable,
except for another Global Security of like denomination and tenor to be
registered in the name of the Depositary or its nominee or to a successor
Depositary or its nominee or except as described below. The rights of Holders of
such Global Security shall be exercised only through the Depositary.
A Global Security shall be exchangeable for Series __ Senior Notes
registered in the names of persons other than the Depositary or its nominee only
if (i) the Depositary notifies the Company that it is unwilling or unable to
continue as a Depositary for such Global Security and no successor Depositary
shall have been appointed by the Company within 90 days of receipt by the
Company of such notification, or if at any time the Depositary ceases to be a
clearing agency registered under the Exchange Act at a time when the Depositary
is required to be so registered to act as such Depositary and no successor
Depositary shall have been appointed by the Company within 90 days after it
becomes aware of such cessation, or (ii) the Company in its sole
5
discretion determines that such Global Security shall be so exchangeable. Any
Global Security that is exchangeable pursuant to the preceding sentence shall be
exchangeable for Series __ Senior Notes registered in such names as the
Depositary shall direct.
SECTION 106. Redemption. The Series __ Senior Notes are redeemable, in
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whole or in part, at any time, and at the option of the Company, at a Redemption
Price equal to the greater of:
(i) 100% of the principal amount of Series __ Senior Notes then
Outstanding to be so redeemed, or
(ii) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (not including any portion of such payments of
interest accrued as of the Redemption Date) discounted to the Redemption Date on
a semiannual basis (assuming a 360-day year consisting of twelve 30-day months)
at the Adjusted Treasury Rate, ___ basis points, as calculated by an Independent
Investment Banker,
plus, in either of the above cases, accrued and unpaid interest thereon to
the Redemption Date.
Unless the Company defaults in the payment of the Redemption Price, on and
after the Redemption Date, interest will cease to accrue on the Series __ Senior
Notes or portions thereof called for redemption.
The Adjusted Treasury Rate shall be calculated on the third Business Day
preceding the Redemption Date.
In the event of the redemption of the Series __ Senior Notes in part only,
a new Series __ Senior Note or Notes for the unredeemed portion will be issued
in the name or names of the Holders thereof upon surrender thereof.
Notice of redemption shall be given as provided in Section 1104 of the
Original Indenture.
SECTION 107. Sinking Fund. The Series __ Senior Notes shall not have a
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sinking fund.
SECTION 108. Additional Interest. Any principal of and installment of
-------------------
interest on the Series __ Senior Notes that is overdue shall bear interest at
the rate of ___ (to the extent that the payment of such interest shall be
legally enforceable), from the dates such amounts are due until they are paid or
made available for payment, and such interest shall be payable on demand.
SECTION 109. Paying Agent. The Trustee shall initially serve as Paying
------------
Agent with respect to the Series __ Senior Notes, with the Place of Payment
initially being the Corporate Trust Office of the Trustee.
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ARTICLE II
MISCELLANEOUS PROVISIONS
SECTION 201. Recitals by Company. The recitals in this First
-------------------
Supplemental Indenture are made by the Company only and not by the Trustee, and
all of the provisions contained in the Original Indenture in respect of the
rights, privileges, immunities, powers and duties of the Trustee shall be
applicable in respect of the Series __ Senior Notes and of this First
Supplemental Indenture as fully and with like effect as if set forth herein in
full.
SECTION 202. Ratification and Incorporation of Original Indenture. As
----------------------------------------------------
supplemented hereby, the Original Indenture is in all respects ratified and
confirmed, and the Original Indenture and this First Supplemental Indenture
shall be read, taken and construed as one and the same instrument.
SECTION 203. Executed in Counterparts. This Supplemental Indenture may
------------------------
be executed in several counterparts, each of which shall be deemed to be an
original, and such counterparts shall together constitute but one and the same
instrument.
SECTION 204. Assignment. The Company shall have the right at all times
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to assign any of its rights or obligations under the Indenture with respect to
the Series __ Senior Notes to a direct or indirect wholly-owned subsidiary of
the Company; provided that, in the event of any such assignment, the Company
shall remain primarily liable for the performance of all such obligations. The
Indenture may also be assigned by the Company in connection with a transaction
described in Article Eight of the Original Indenture.
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IN WITNESS WHEREOF, each party hereto has caused this instrument to be
signed in its name and behalf by its duly authorized officer, all as of the day
and year first above written.
CONSOLIDATED NATURAL GAS COMPANY
By:_______________________________________
Name:_____________________________________
Title:____________________________________
BANK ONE TRUST COMPANY, NATIONAL
ASSOCIATION, as Trustee
By:_______________________________________
Name:_____________________________________
Title:____________________________________
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EXHIBIT A
FORM OF
_____ SERIES __ __% SENIOR NOTE,
DUE _____ __, 20
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY (▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇) TO THE ISSUER
OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF [CEDE & CO.] OR SUCH OTHER NAME
AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND
ANY PAYMENT IS MADE TO [CEDE & CO.], ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED
OWNER HEREOF, [CEDE & CO.,] HAS AN INTEREST HEREIN.]**
[THIS SERIES __ SENIOR NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE THEREOF. THIS SERIES __ SENIOR NOTE MAY NOT BE EXCHANGED IN WHOLE
OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SERIES __ SENIOR
NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN
SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE.]**
=======================
CONSOLIDATED NATURAL
GAS COMPANY
=======================
$_____________
_____ SERIES __ __% SENIOR NOTE,
DUE _____ __, 20
No. ___ CUSIP No. ___
Consolidated Natural Gas Company, a corporation duly organized and existing
under the laws of Delaware (herein called the "Company", which term includes any
successor Person under the Indenture hereinafter referred to), for value
received, hereby promises to pay to [Cede & Co.]**, or registered assigns (the
"Holder"), the principal sum of ____________ Dollars
________________
** Insert in Global Securities.
($_____) on _____ __, 20 and to pay interest thereon from _____ __ _____ or from
the most recent Interest Payment Date to which interest has been paid or duly
provided for, semi-annually on _____ __ and _____ __ in each year, commencing on
_____ __, 20, at the rate of ___ per annum, until the principal hereof is paid
or made available for payment, provided that any principal, and any such
installment of interest, that is overdue shall bear interest at the rate of ___
per annum (to the extent that the payment of such interest shall be legally
enforceable), from the dates such amounts are due until they are paid or made
available for payment, and such interest shall be payable on demand. The
interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in such Indenture, be paid to the Person in whose
name this Series __ Senior Note (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such
interest, which shall be the fifteenth calendar day (whether or not a Business
Day) next preceding such Interest Payment Date; provided that interest payable
at the Stated Maturity of principal or on a Redemption Date will be paid to the
Person to whom principal is payable. Any such interest not so punctually paid or
duly provided for will forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the Person in whose name this
Series __ Senior Note (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to Holders of
Series __ Senior Notes not less than 10 days prior to such Special Record Date,
or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Series __ Senior Notes may
be listed, and upon such notice as may be required by such exchange, all as more
fully provided in said Indenture.
Payment of the principal of and any such interest on this Series __ Senior
Note will be made at the office of the Paying Agent, in the Borough of
Manhattan, City and State of New York, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts, with any such payment that is due at the Stated
Maturity of any Series __ Senior Note or on a Redemption Date being made upon
surrender of such Series __ Senior Note to such office or agency; provided,
however, that at the option of the Company payment of interest, subject to such
surrender where applicable, may be made (i) by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register or (ii) by wire transfer at such place and to such account at a banking
institution in the United States as may be designated in writing to the Trustee
at least sixteen (16) days prior to the date for payment by the Person entitled
thereto.
Reference is hereby made to the further provisions of this Series __ Senior
Note set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place.
Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Series __
Senior Note shall not be entitled to any benefit under the Indenture or be valid
or obligatory for any purpose.
2
IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.
Dated: Consolidated Natural Gas Company
By: ______________________________________
Name: ________________________________
Title: _______________________________
[REVERSE OF SERIES __ SENIOR NOTE]
This Security is one of a duly authorized issue of securities of the
Company (herein called the "Securities"), issued and to be issued in one or more
series under an Indenture, dated as of _____ __, 200, as supplemented by a
First Supplemental Indenture dated as of _____ __, 200 (as amended or
supplemented from time to time, herein called the "Indenture", which term shall
have the meaning assigned to it in such instrument), between the Company and
Bank One Trust Company, National Association, as Trustee (herein called the
"Trustee", which term includes any successor trustee under the Indenture), and
reference is hereby made to the Indenture for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is
one of the series designated on the face hereof (the "Series __ Senior Notes")
which is unlimited in aggregate principal amount.
The Series __ Senior Notes are redeemable, in whole or in part, at any
time, in the manner and with the effect provided in the Indenture.
If an Event of Default with respect to Series __ Senior Notes shall occur
and be continuing, the principal of the Series __ Senior Notes may be declared
due and payable in the manner and with the effect provided in the Indenture.
The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of a majority in principal amount of the Securities at
the time Outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount
of the Securities of each Series at the time Outstanding, on behalf of the
Holders of all Securities of such series, to waive certain past defaults under
the Indenture and their consequences. Any such consent or waiver by the Holder
of this Series __ Senior Note shall be conclusive and binding upon such Holder
and upon all future Holders of this Series __ Senior Note and of any Series __
Senior
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Note issued upon the registration of transfer hereof or in exchange therefor or
in lieu hereof, whether or not notation of such consent or waiver is made upon
this Series __ Senior Note.
As provided in and subject to the provisions of the Indenture, the Holder
of this Series __ Senior Note shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or
trustee or for any other remedy thereunder, unless such Holder shall have
previously given the Trustee written notice of a continuing Event of Default
with respect to the Series __ Senior Notes, the Holders of not less than a
majority in principal amount of the Series __ Senior Notes at the time
Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the
Trustee reasonable indemnity, and the Trustee shall not have received from the
Holders of a majority in principal amount of Series __ Senior Notes at the time
Outstanding a direction inconsistent with such request, and shall have failed to
institute any such proceeding for 60 days after receipt of such notice, request
and offer of indemnity. The foregoing shall not apply to any suit instituted by
the Holder of this Series __ Senior Note for the enforcement of any payment of
principal hereof or premium, if any, or interest hereon on or after the
respective due dates expressed or provided for herein.
No reference herein to the Indenture and no provision of this Series __
Senior Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of, premium,
if any, and interest on this Series __ Senior Note at the times, place and rate,
and in the coin or currency, herein prescribed.
As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Series __ Senior Note is registrable in the Security
Register, upon surrender of this Series __ Senior Note for registration of
transfer at the office or agency of the Company in any place where the principal
of, premium, if any, and interest on this Series __ Senior Note are payable,
duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the
Holder hereof or his attorney duly authorized in writing, and thereupon one or
more new Series __ Senior Notes and of like tenor, of authorized denominations
and for the same aggregate principal amount, will be issued to the designated
transferee or transferees.
The Series __ Senior Notes are issuable only in registered form without
coupons in denominations of $1,000 and any integral multiple thereof. As
provided in the Indenture and subject to certain limitations therein set forth,
Series __ Senior Notes are exchangeable for a like aggregate principal amount of
Series __ Senior Notes having the same Stated Maturity and of like tenor of any
authorized denominations as requested by the Holder upon surrender of the Series
__ Senior Note or Series __ Senior Notes to be exchanged at the office or agency
of the Company.
No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.
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Prior to due presentment of this Series __ Senior Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner
hereof for all purposes, whether or not this Series __ Senior Note be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by
notice to the contrary.
All terms used in this Series __ Senior Note that are defined in the
Indenture shall have the meanings assigned to them in the Indenture.
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ABBREVIATIONS
The following abbreviations, when used in the inscription on the face of this
instrument, shall be construed as though they were written out in full according
to applicable laws or regulations:
TEN COM -- as tenants in common
TEN ENT -- as tenants by the entireties
JT TEN -- as joint tenants with rights of survivorship and
not as tenants in common
UNIF GIFT MIN ACT -- ________________________________ Custodian for
(Cust)
________________________________
(Minor)
Under Uniform Gifts to Minors Act of
________________________________
(State)
Additional abbreviations may also be used though not on the above list.
______________________________________________________________
FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto
____________________ (please insert Social Security or other identifying number
of assignee).
________________________________________________________________
________________________________________________________________
________________________________________________________________
PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF
ASSIGNEE
the within Series __ Senior Note and all rights thereunder, hereby irrevocably
constituting and appointing
________________________________________________________________
________________________________________________________________
________________________________________________________________
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________________________________________________________________
________________________________________________________________
________________________________________________________________
agent to transfer said Series __ Senior Note on the books of the Company, with
full power of substitution in the premises.
Dated: __________________ __, ____
------------------------------------------------------
NOTICE: The signature to this assignment must correspond with the name as
written upon the face of the within instrument in every particular without
alteration or enlargement, or any change whatever.
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EXHIBIT B
CERTIFICATE OF AUTHENTICATION
This is one of the Securities of the series designated therein referred to
in the within-mentioned Indenture.
BANK ONE TRUST COMPANY,
NATIONAL ASSOCIATION,
as Trustee
By: ________________________________
Authorized Officer
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