0000950133-07-002659 Sample Contracts

BLACKBOARD INC. AS ISSUER AND U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE [•]% CONVERTIBLE SENIOR NOTES DUE JULY 1, 2027 INDENTURE DATED AS OF JUNE [•], 2007
Indenture • June 13th, 2007 • Blackboard Inc • Services-prepackaged software • New York

THIS INDENTURE, dated as of June [•], 2007, is between BLACKBOARD INC., a Delaware corporation (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (in such capacity and not in its individual capacity, the “Trustee”).