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Exhibit 4.2 INDENTURE among LEAR CORPORATION, as
Issuer, THE GUARANTORS PARTY HERETO FROM TIME TO TIME, as
Guarantors, and
, as Trustee
Subordinated Securities Dated as of
, 200_
TABLE OF CONTENTS
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Page
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ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
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1
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SECTION 1.01 Definitions
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1
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SECTION 1.02 Incorporation by Reference of Trust Indenture
Act
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8
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SECTION 1.03 Rules of Construction
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8
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ARTICLE II THE SECURITIES
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9
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SECTION 2.01 Unlimited in Amount, Issuable in Series, Form and
Dating
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9
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SECTION 2.02 [RESERVED]
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11
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SECTION 2.03 Execution and Authentication
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11
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SECTION 2.04 Registrar and Paying Agent
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12
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SECTION 2.05 Paying Agent to Hold Assets in Trust
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12
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SECTION 2.06 Holder Lists
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13
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SECTION 2.07 General Provisions Relating to Transfer and
Exchange
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13
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SECTION 2.08 Book-Entry Provisions for Global Securities
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14
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SECTION 2.09 [RESERVED]
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15
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SECTION 2.10 Replacement Securities
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15
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SECTION 2.11 Outstanding Securities
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16
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SECTION 2.12 Treasury Securities
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16
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SECTION 2.13 Temporary Securities
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16
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SECTION 2.14 Cancellation
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17
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SECTION 2.15 CUSIP Numbers
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17
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SECTION 2.16 Defaulted Interest
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17
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SECTION 2.17 Special Record Dates
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17
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SECTION 2.18 [RESERVED]
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17
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ARTICLE III REDEMPTION
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18
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SECTION 3.01 Notices to Trustee
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18
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SECTION 3.02 Selection of Securities to Be Redeemed
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18
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SECTION 3.03 Notice of Redemption
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18
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SECTION 3.04 Effect of Notice of Redemption
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19
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SECTION 3.05 Deposit of Redemption Price
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19
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SECTION 3.06 Securities Redeemed in Part
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19
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ARTICLE IV COVENANTS
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19
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SECTION 4.01 Payment of Securities
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19
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SECTION 4.02 Maintenance of Office or Agency
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20
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SECTION 4.03 Reports
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20
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SECTION 4.04 Compliance Certificate
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21
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SECTION 4.05 Taxes
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21
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SECTION 4.06 Corporate Existence
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21
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SECTION 4.07 Limitation on Liens
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21
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SECTION 4.08 Limitation on Sale and Lease-Back Transactions
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22
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ARTICLE V MERGER, ETC.
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23
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SECTION 5.01 When Company May Merge, etc.
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23
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SECTION 5.02 Successor Corporation Substituted
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23
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ARTICLE VI DEFAULTS AND REMEDIES
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23
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SECTION 6.01 Events of Default
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23
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SECTION 6.02 Acceleration
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25
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i
TABLE OF CONTENTS
(continued)
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Page
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SECTION 6.03 Other Remedies
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25
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SECTION 6.04 Waiver of Past Defaults
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25
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SECTION 6.05 Control by Majority
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26
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SECTION 6.06 Limitation on Suits
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26
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SECTION 6.07 Rights of Holders To Receive Payment
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26
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SECTION 6.08 Collection Suit by Trustee
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27
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SECTION 6.09 Trustee May File Proofs of Claim
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27
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SECTION 6.10 Priorities
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27
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SECTION 6.11 Undertaking for Costs
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28
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SECTION 6.12 Stay, Extension and Usury Laws
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28
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ARTICLE VII TRUSTEE
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28
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SECTION 7.01 Duties of Trustee
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28
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SECTION 7.02 Rights of Trustee
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30
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SECTION 7.03 Individual Rights of Trustee
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31
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SECTION 7.04 Money Held in Trust
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31
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SECTION 7.05 Trustee’s Disclaimer
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31
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SECTION 7.06 Notice of Defaults
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31
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SECTION 7.07 Reports by Trustee to Holders
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31
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SECTION 7.08 Compensation and Indemnity
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31
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SECTION 7.09 Replacement of Trustee
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32
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SECTION 7.10 Successor Trustee by Merger, Etc.
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33
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SECTION 7.11 Eligibility; Disqualification
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33
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SECTION 7.12 Preferential Collection of Claims Against the
Company
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33
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ARTICLE VIII DISCHARGE OF INDENTURE
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34
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SECTION 8.01 Satisfaction and Discharge of Indenture
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34
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SECTION 8.02 Application of Trust Funds; Indemnification
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35
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SECTION 8.03 Legal Defeasance
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35
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SECTION 8.04 Covenant Defeasance
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37
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SECTION 8.05 Repayment to Company
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38
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ARTICLE IX AMENDMENTS, SUPPLEMENTS AND WAIVERS
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38
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SECTION 9.01 Without Consent of Holders
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38
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SECTION 9.02 With Consent of Holders
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39
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SECTION 9.03 Compliance with Trust Indenture Act
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40
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SECTION 9.04 Revocation and Effect of Consents
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40
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SECTION 9.05 Notation on or Exchange of Securities
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40
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SECTION 9.06 Trustee to Sign Amendment, etc.
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41
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ARTICLE X SUBORDINATION
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41
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SECTION 10.01 Securities Subordinated to Senior Indebtedness
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41
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SECTION 10.02 Priority and Payment Over of Proceeds in Certain
Events
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41
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SECTION 10.03 Payments May Be Paid Prior to Dissolution
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43
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SECTION 10.04 Rights of Holders of Senior Indebtedness Not to Be
Impaired
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43
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SECTION 10.05 Authorization to Trustee to Take Action to
Effectuate Subordination
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43
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SECTION 10.06 Distribution or Notice to Representative
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43
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SECTION 10.07 Subrogation
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43
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SECTION 10.08 Obligations of Company Unconditional
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44
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ii
TABLE OF CONTENTS
(continued)
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Page
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SECTION 10.09 Trustee Entitled to Assume Payments Not Prohibited
in Absence of Notice
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44
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SECTION 10.10 Right of Trustee to Hold Senior Indebtedness
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45
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ARTICLE XI GUARANTEES
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45
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SECTION 11.01 Guarantees
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45
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SECTION 11.02 Obligations of Guarantors Unconditional
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47
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SECTION 11.03 Subordination
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48
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SECTION 11.04 Limitation on Guarantors’ Liability
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48
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SECTION 11.05 Releases of Guarantees
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48
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SECTION 11.06 Application of Certain Terms and Provisions to
Guarantors
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49
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SECTION 11.07 Additional Guarantors
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49
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ARTICLE XII MISCELLANEOUS
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50
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SECTION 12.01 Trust Indenture Act Controls
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50
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SECTION 12.02 Notices
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50
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SECTION 12.03 Communication by Holders with Other Holders
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50
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SECTION 12.04 Certificate and Opinion as to Conditions
Precedent
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51
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SECTION 12.05 Statements Required in Certificate or Opinion
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51
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SECTION 12.06 Rules by Trustee and Agents
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51
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SECTION 12.07 Legal Holidays
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51
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SECTION 12.08 Duplicate Originals
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52
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SECTION 12.09 Governing Law
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52
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SECTION 12.10 No Adverse Interpretation of Other Agreements
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52
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SECTION 12.11 Successors
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52
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SECTION 12.12 Severability
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52
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SECTION 12.13 Counterpart Originals
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52
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SECTION 12.14 Submission to Jurisdiction
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52
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SECTION 12.15 Waiver of Jury Trial
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52
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SECTION 12.16 Force Majeure
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53
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iii
CROSS-REFERENCE TABLE*
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Trust Indenture
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Indenture
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Act Section
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Section
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310
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(a)(1)
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7.11
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(a)(2)
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7.11
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(a)(3)
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n/a
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(a)(4)
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n/a
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(a)(5)
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7.11
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(b)
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7.03; 7.11
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(c)
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n/a
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311
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(a)
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7.12
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(b)
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7.12
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(c)
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n/a
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312
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(a)
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2.06
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(b)
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11.03
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(c)
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11.03
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313
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(a)
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7.07
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(b)(1)
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n/a
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(b)(2)
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7.07; 7.08
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(c)
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7.07; 11.02
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(d)
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7.07
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314
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(a)(1), (2), (3)
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4.03;11.05
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(a)(4)
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4.04
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(b)
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n/a
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(c)(1)
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11.04
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(c)(2)
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11.04
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(c)(3)
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n/a
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(d)
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n/a
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(e)
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11.05
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(f)
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n/a
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315
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(a)
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7.01(b)
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(b)
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7.06; 11.02
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(c)
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7.01(a)
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(d)
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7.01(c)
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(e)
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6.11
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316
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(a)(last sentence)
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2.12
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(a)(1)(A)
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6.05
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(a)(1)(B)
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6.04
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(a)(2)
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n/a
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(b)
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6.07
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(c)
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9.04
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317
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(a)(1)
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6.08
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(a)(2)
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6.09
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(b)
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2.04
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318
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(a)
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11.01
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(b)
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n/a
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(c)
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11.01
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"n/a" means not applicable.
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*
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This Cross–Reference Table shall not, for any purpose, be
deemed to be a part of the Indenture.
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iv
Indenture, dated as of
, 200_, among Lear Corporation, a Delaware corporation (the
"Company"), as issuer, the companies listed on the signature pages
hereto that are subsidiaries of the Company (the "Guarantors"), and
, a
, as trustee (the
"Trustee"). RECITALS OF THE COMPANY AND THE GUARANTORS
The Company has duly authorized the
execution and delivery of this indenture to provide for the
issuance from time to time of its debentures, notes or other
evidences of indebtedness to be issued in one or more series (the
"Securities"), as herein defined and provided, up to such principal
amount as may from time to time be authorized in or pursuant to one
or more resolutions of the Board of Directors or by supplemental
indenture. The Guarantors have duly
authorized the execution and delivery of this Indenture to provide
guarantees of the Securities and of certain of the obligations of
the Company hereunder. 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 ratable
benefit of the Holders of the Securities, as follows: ARTICLE
I DEFINITIONS AND INCORPORATION BY REFERENCE
SECTION 1.01 Definitions.
"2013 and 2016 Note Indenture" means
the Indenture, dated as of November 24, 2006, by and among
Lear, the guarantors named therein and The Bank of New York Trust
Company, N.A., as trustee, and as may be amended, modified or
supplemented from time to time. "2013
Notes" means the 8.50% Senior Notes due 2013 issued pursuant to the
2013 and 2016 Note Indenture. "2014
Notes" means the 5.75% Senior Notes due 2014 issued pursuant to the
2014 Note Indenture. "2014 Note
Indenture" means the Indenture, dated as of August 3, 2004, by
and among Lear, the guarantors named therein and The Bank of New
York Trust Company, N.A., as trustee, as amended by Supplemental
Indenture No. 1 to the 2014 Note Indenture, dated as of
December 15, 2005, by and among Lear, the guarantors named
therein and The Bank of New York Trust Company, N.A., as trustee,
Supplemental Indenture No. 2 to the 2014 Note Indenture, dated
as of April 15, 2006, by and among Lear, the guarantors named
therein and The Bank of New York Trust Company, N.A., as trustee
and as may be further amended, modified or supplemented from time
to time.
"2016 Notes" means the 8.75%
Senior Notes due 2016 issued pursuant to the 2013 and 2016 Note
Indenture. "Affiliate" means, when
used with reference to the Company or another Person, any Person
directly or indirectly controlling, controlled by, or under direct
or indirect common control with, the Company or such other Person,
as the case may be. For the purposes of this definition, "control"
when used with respect to any specified Person means the power to
direct or cause the direction of management or 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 of the
foregoing. "Agent" means any
Registrar, Paying Agent, authenticating agent or co-Registrar.
"Attributable Value" means, in
connection with a sale and lease-back transaction, the lesser of
(i) the fair market value of the assets subject to such
transaction and (ii) the present value (discounted at a rate
per annum equal to the rate of interest implicit in the lease
involved in such sale and lease-back transaction, as determined in
good faith by the Company) of the obligations of the lessee for
rental payments during the term of the related lease.
"Bankruptcy Law" means Title 11 of
the U.S. Code or any similar federal or state law for the relief of
debtors. "Board of Directors" means,
with respect to any Person, the Board of Directors of such Person
or any duly authorized committee of such Board of Directors.
"Board Resolution" means a copy of a
resolution certified by the secretary or an assistant secretary of
such Person to have been duly adopted by the Board of Directors of
such Person or any duly authorized committee thereof and to be in
full force and effect on the date of such certification, and
delivered to the Trustee. "Business
Day" means a day that is not a Legal Holiday.
"Company" means the party named as
the Company in the first paragraph of this Indenture until one or
more successor corporations shall have become such pursuant to the
applicable provisions of this Indenture, and thereafter means such
successors. "Consolidated" or
"consolidated" means, when used with reference to any amount, such
amount determined on a consolidated basis in accordance with GAAP,
after the elimination of intercompany items.
"Consolidated Assets" means at a
particular date, all amounts which would be included under total
assets on a consolidated balance sheet of the Company and its
Restricted Subsidiaries as at such date, determined in accordance
with GAAP. "Corporate Trust Office"
means the office of the Trustee at which at any particular time its
corporate services business shall be principally administered,
which office at the date of execution of this Indenture is located
at
.
2
"Custodian" means any receiver,
trustee, assignee, liquidator, sequestrator or similar official
under any Bankruptcy Law. "Default"
means any event which is, or after notice or lapse of time or both
would be, an Event of Default.
"Depositary" means The Depository
Trust Company, its nominees and their respective successors.
"DTC Participants" has the meaning
specified in Section 2.08.
"ERISA" means the Employee Retirement
Income Security Act of 1974, as amended, or any successor statute.
"Event of Default" has the meaning
specified in Section 6.01.
"Exchange Act" means the Securities
Exchange Act of 1934, as amended, or any successor statute.
"Existing Senior Notes" means the
2013 Notes, the 2014 Notes and the 2016 Notes.
"Financing Lease" means (i) any
lease of property, real or personal, the obligations under which
are capitalized on a consolidated balance sheet of the Company and
its Restricted Subsidiaries and (ii) any other such lease to
the extent that the then present value of the minimum rental
commitment thereunder should, in accordance with GAAP, be
capitalized on a balance sheet of the lessee.
"GAAP" means generally accepted
accounting principles 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 have been approved by a
significant segment of the accounting profession, which are
applicable from time to time. "Global
Securities" means a Security issued to evidence all or a part of
any series of Securities that is executed by the Company and
authenticated and delivered by the Trustee to a depositary or
pursuant to such depositary’s instructions, all in accordance
with this Indenture and pursuant to Section 2.01, which shall
be registered as to principal and interest in the name of such
depositary or its nominee.
"Guarantee" means the guarantee of
the Securities by each Guarantor under Article XI hereof.
"Guarantor" means (i) each of
the Subsidiaries of the Company which have executed this Indenture
as a Guarantor as of the date hereof, and (ii) each of the
Company’s Subsidiaries, whether formed, created or acquired
before or after the date hereof, which become a guarantor of
Securities pursuant to the provisions of this Indenture.
3
"Holder" means the Person in whose
name a Security is registered on the Registrar’s books.
"Indebtedness" of a Person means all
obligations which would be treated as liabilities upon a balance
sheet of such Person prepared on a consolidated basis in accordance
with GAAP. "Indenture" means this
Indenture, as amended, supplemented or modified from time to time.
"Issue Date" means the date of
original issuance of the initial Securities pursuant to this
Indenture. "Legal Holiday" has the
meaning specified in Section 11.07.
"Lien" means any mortgage, pledge,
hypothecation, assignment, deposit arrangement, encumbrance, lien
(statutory or other), or preference, priority or other security
agreement or preferential arrangement of any kind or nature
whatsoever (including, without limitation, any conditional sale or
other title retention agreement or any Financing Lease having
substantially the same economic effect as any of the foregoing).
"Obligations" means all obligations
for principal, premium, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities
payable under the documentation governing any Indebtedness.
"Officer" of any Person means the
Chairman of the Board, Vice Chairman, the Chief Executive Officer,
the President, any Senior Vice President, any Executive Vice
President, any Vice President, the Treasurer, the Secretary or the
Controller of such Person.
"Officers’ Certificate" means a
certificate signed by two Officers or by an Officer and an
Assistant Treasurer, Assistant Secretary or Assistant Controller of
any Person. "Opinion of Counsel"
means a written opinion from legal counsel. The counsel may be an
employee of or counsel to the Company.
"Paying Agent" has the meaning
specified in Section 2.04.
"Permitted Liens" means:
(i) Liens for taxes not yet due or
which are being contested in good faith by appropriate proceedings;
(ii) statutory Liens of landlords,
carriers, warehousemen, mechanics, materialmen, repairmen,
suppliers or other like Liens arising in the ordinary course of
business; (iii) pledges or deposits
in connection with workers’ compensation, unemployment
insurance and other social security legislation, including any Lien
securing letters of credit issued in the ordinary course of
business in connection therewith and deposits securing liabilities
to insurance carriers under insurance and self-insurance
programs;
4
(iv) Liens (other than any Lien
imposed by ERISA) incurred on deposits to secure the performance of
bids, trade contracts (other than for borrowed money), leases,
statutory obligations, surety and appeal bonds, performance bonds,
letters of credit for customs purposes, workers’
compensation, unemployment insurance, utility payments and other
obligations of a like nature incurred in the ordinary course of
business; (v) easements,
rights-of-way, restrictions and other similar encumbrances incurred
which, in the aggregate, do not materially interfere with the
ordinary conduct of the business of the Company and its Restricted
Subsidiaries taken as a whole; (vi)
attachment, judgment or other similar Liens arising in connection
with court or arbitration proceedings, provided that the
same are discharged, or that execution or enforcement thereof is
stayed pending appeal, within 60 days or, in the case of any
stay of execution or enforcement pending appeal, within such lesser
time during which such appeal may be taken;
(vii) Liens securing obligations
(other than obligations representing Indebtedness for borrowed
money) under operating, reciprocal easement or similar agreements
entered into in the ordinary course of business;
(viii) statutory Liens and rights of
offset arising in the ordinary course of business of the Company
and its Restricted Subsidiaries; (ix)
Liens in connection with leases or subleases granted to others and
the interest or title of a lessor or sublessor (other than the
Company or any of its Subsidiaries) under any lease;
(x) Liens securing Indebtedness in
respect of interest rate agreement obligations or currency
agreement obligations or commodity hedging agreements entered into
to protect against fluctuations in interest rates or exchange rates
or commodity prices and not for speculative reasons; and
(xi) Liens existing on the date
hereof. "Person" means an individual,
partnership, corporation, business trust, joint stock company,
trust, unincorporated association, joint venture, governmental
authority or other entity of whatever nature.
"Physical Securities" means permanent
certificated Securities in registered form, issued in accordance
with Section 2.08 and the terms of any indenture supplemental
hereto. "Receivable Financing
Transaction" means any transaction or series of transactions
involving a sale for cash of accounts receivable, without recourse
based upon the collectibility of the receivables sold, by the
Company or any of its Restricted Subsidiaries to a Special Purpose
Subsidiary and a subsequent sale or pledge of such accounts
receivable (or an interest therein) by
5
such Special Purpose Subsidiary, in each case without any
guarantee by the Company or any of its Restricted Subsidiaries
(other than the Special Purpose Subsidiary).
"Redemption Date" means, with respect
to any Securities to be redeemed, the date fixed for such
redemption pursuant to this Indenture.
"Redemption Price" means the
redemption price fixed in accordance with the terms of the
Securities, plus accrued and unpaid interest, if any, to the date
fixed for redemption. "Register" has
the meaning specified in Section 2.04.
"Responsible Officer" shall mean,
when used with respect to the Trustee, any officer within the
corporate trust department of the Trustee, including any vice
president, assistant vice president, assistant secretary, assistant
treasurer, trust officer or any other officer of the Trustee who
customarily performs functions similar to those performed by the
Persons who at the time shall be such officers, respectively, or to
whom any corporate trust 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.
"Restricted Subsidiary" means any
Subsidiary other than an Unrestricted Subsidiary.
"SEC" means the Securities and
Exchange Commission and any government agency succeeding to its
functions. "Securities" means the
securities authenticated and delivered under this Indenture.
"Securities Act" means the Securities
Act of 1933, as amended, or any successor statute.
"Senior Credit Facilities" means the
Amended and Restated Credit and Guarantee Agreement dated as of
April 25, 2006 by and among the Company, Lear Canada, each
Foreign Subsidiary Borrower (as defined therein), the lenders party
thereto in their capacities as lenders thereunder and the agents
party thereto in their capacities as such, together with the
related documents thereto (including, without limitation, any
guarantee agreements and security documents), in each case as such
agreements may be amended (including any amendment and restatement
thereof), supplemented or otherwise modified from time to time,
including one or more credit agreements, loan agreements,
indentures or similar agreements extending the maturity of,
refinancing, replacing or otherwise restructuring (including
increasing the amount of available borrowings thereunder or adding
Restricted Subsidiaries of the Company as additional borrowers or
guarantors thereunder) all or any portion of the indebtedness under
such agreement or agreements or any successor or replacement
agreement or agreements and whether by the same or any other agent,
lender or group of lenders. "Senior
Indebtedness" means all Indebtedness (present or future) created,
incurred, assumed or guaranteed by the Company (and all renewals,
extensions or refundings thereof), unless the instrument under
which such Indebtedness is created, incurred, assumed or guaranteed
provides that such Indebtedness is not senior or superior in right
of payment to the Securities. Notwithstanding anything to the
contrary in the foregoing, Senior Indebtedness shall not include
(i) any Indebtedness of the Company to any of its
Subsidiaries, (ii) any trade payables of the Company or
(iii) any liability for federal, state, local or other taxes
owed or owing by the Company.
6
"Significant Subsidiary" means any
Subsidiary that would constitute a "significant subsidiary" within
the meaning of Article 1 of Regulation S-X of the
Securities Act as in effect on the date of this Indenture.
"Special Purpose Subsidiary" means
any wholly owned Restricted Subsidiary of the Company created by
the Company for the sole purpose of facilitating a Receivable
Financing Transaction. In the event the laws of a jurisdiction in
which the Company proposes to create a Special Purpose Subsidiary
do not provide for the creation of an entity that is
bankruptcy-remote in a manner that is acceptable to the Company or
requires the formation of one or more additional entities (whether
or not subsidiaries of the Company) such other type of entity or
entities may serve as a Special Purpose Subsidiary.
"Subordinated Indebtedness" means the
Securities and any other Indebtedness that is subordinate or junior
in right of payment to Senior Indebtedness.
"Subsidiary" of any Person means:
(i) a corporation a majority of whose
capital stock with voting power, under ordinary circumstances, to
elect directors is at the time, directly or indirectly, owned by
such Person or by such Person and a subsidiary or subsidiaries of
such Person or by a subsidiary or subsidiaries of such Person; or
(ii) any other Person (other than a
corporation) in which such Person or such Person and a subsidiary
or subsidiaries of such Person or a subsidiary or subsidiaries of
such Persons, at the time, directly or indirectly, owns at least a
majority voting interest under ordinary circumstances.
"TIA" means the Trust Indenture Act
of 1939 (15 U.S. Code Section 77aaa-77bbbb), as in effect on
the date of this Indenture; provided, however, that in the
event the TIA is amended after such date, "TIA" means, to the
extent required by such amendment, the Trust Indenture Act of 1939,
as so amended, or any successor statute.
"Trustee" means the party named as
such in this Indenture until a successor replaces it and
thereafter, means the successor.
"Unrestricted Subsidiary" means any
Subsidiary designated as such by the Board of Directors of the
Company; provided, however, that at the time of any such
designation by the Board of Directors, such Subsidiary does not
constitute a Significant Subsidiary; and provided ,
further, that at the time that any Unrestricted Subsidiary
becomes a Significant Subsidiary it shall cease to be an
Unrestricted Subsidiary. "U.S.
Government Obligations" means (i) direct obligations of the
United States of America for the payment of which the full faith
and credit of the United States of America is pledged or (ii)
obligations of a person controlled or supervised by and acting as
an agency or instrumentality of the United States of America, the
payment of which is unconditionally
7
guaranteed as a full faith and credit obligation by the United
States of America and which in either case, are non-callable at the
option of the issuer thereof. SECTION
1.02 Incorporation by Reference of Trust Indenture Act.
Whenever this Indenture refers to a
provision of the TIA, the provision is incorporated by reference in
and made a part of this Indenture.
The following TIA terms used in this
Indenture have the following meanings:
"indenture securities" means the
Securities; "indenture security
holder" means a Holder; "indenture to
be qualified" means this Indenture;
"indenture trustee" or "institutional
trustee" means the Trustee; and
"obligor" on the Securities means the
Company and any other obligor on the indenture securities.
All other TIA terms used in this
Indenture that are defined by the TIA, defined by TIA reference to
another statute or defined by SEC rule have the meanings assigned
to them by such definitions. SECTION
1.03 Rules of Construction.
Unless the context otherwise
requires: (i) a term has the meaning
assigned to it; (ii) an accounting
term not otherwise defined has the meaning assigned to it in
accordance with GAAP; (iii) "or" is
not exclusive; (iv) "including" means
including without limitation; (v)
words in the singular include the plural, and in the plural include
the singular; and (vi) provisions
apply to successive events and transactions.
8
ARTICLE II THE SECURITIES
SECTION 2.01 Unlimited in Amount,
Issuable in Series, Form and Dating.
The aggregate principal amount of
Securities which may be authenticated and delivered under this
Indenture is unlimited. The Securities may be issued in one or more
series. There shall be established pursuant to a Board Resolution
or an Officers’ Certificate pursuant to authority granted
under a Board Resolution or established in one or more indentures
supplemental hereto, prior to the issuance of Securities of any
series: (a) The title, ranking
and authorized denominations of such Securities;
(b) The aggregate principal
amount of such Securities and any limit on such aggregate principal
amount; (c) The price (expressed
as a percentage of the principal amount thereof) at which such
Securities will be issued and, if other than the principal amount
thereof, the portion of the principal amount thereof payable upon
declaration of acceleration of the maturity thereof;
(d) The date or dates, or the
method for determining such date or dates, on which the principal
of such Securities will be payable;
(e) The rate or rates (which may
be fixed or variable), or the method by which such rate or rates
shall be determined, at which such Securities will bear interest,
if any; (f) The date or dates,
or the method for determining such date or dates, from which any
such interest will accrue, the dates on which any such interest
will be payable, the record dates for such interest payment dates,
or the method by which such dates shall be determined, the persons
to whom such interest shall be payable, and the basis upon which
interest shall be calculated if other than that of a 360-day year
of twelve 30-day months; (g) The
place or places where the principal of and interest, if any, on
such Securities will be payable, where such Securities may be
surrendered for registration of transfer or exchange and where
notices or demands to or upon the Company in respect of such
Securities and this Indenture may be served;
(h) The period or periods, if
any, within which, the price or prices at which and the other terms
and conditions upon which such Securities may, pursuant to any
optional or mandatory redemption provisions, be redeemed, as a
whole or in part, at the option of the Company;
(i) The obligation, if any, of
the Company to redeem, repay or purchase such Securities pursuant
to any sinking fund or analogous provision or at the option of a
holder thereof, and the period or periods within which, the price
or prices at which and the other terms and conditions upon which
such Securities will be redeemed, repaid or purchased, as a whole
or in part, pursuant to such obligation;
(j) If other than U.S. dollars,
the currency or currencies in which such Securities are denominated
and payable, which may be a foreign currency or units of two or
more foreign currencies or a composite currency or currencies, and
the terms and conditions relating thereto;
(k) Whether the amount of
payments of principal of (and premium, if any) or interest, if any,
on such Securities may be determined with reference to an index,
formula or other method
9
(which index, formula or method may, but need not be, based on
the yield on or trading price of other securities, including United
States Treasury securities, or on a currency, currencies, currency
unit or units, or composite currency or currencies) and the manner
in which such amounts shall be determined;
(l) Whether the principal of or
interest on the Securities of the series is to be payable, at the
election of the Company or a holder thereof, in a currency or
currencies, currency unit or units or composite currency or
currencies other than that in which such Securities are denominated
or stated to be payable, the period or periods within which, and
the terms and conditions upon which, such election may be made, and
the time and manner of, and identity of the exchange rate agent
with responsibility for, determining the exchange rate between the
currency or currencies, currency unit or units or composite
currency or currencies in which such Securities are denominated or
stated to be payable and the currency or currencies, currency unit
or units or composite currency or currencies in which such
Securities are to be so payable;
(m) Provisions, if any, granting
special rights to the holders of Securities of the series upon the
occurrence of such events as may be specified;
(n) Any deletions from,
modifications of or additions to the Events of Default or covenants
of the Company with respect to Securities of the series, whether or
not such Events of Default or covenants are consistent with the
Events of Default or covenants described herein;
(o) Whether and under what
circumstances the Company will pay any additional amounts on such
Securities in respect of any tax, assessment or governmental charge
and, if so, whether the Company will have the option to redeem such
Securities in lieu of making such payment;
(p) Whether Securities of the
series are to be issuable as registered securities, bearer
securities (with or without coupons) or both, any restrictions
applicable to the offer, sale or delivery of bearer securities and
the terms upon which bearer securities of the series may be
exchanged for registered securities of the series and vice versa
(if permitted by applicable laws and regulations), whether any
Securities of the series are to be issuable initially in temporary
global form and whether any Securities of the series are to be
issuable in permanent global form with or without coupons and, if
so, whether beneficial owners of interests in any such permanent
Global Security may exchange such interests for Securities of such
series and of like tenor or any authorized form and denomination
and the circumstances under which any such exchanges may occur, if
other than in the manner provided in the indenture, and, if
registered securities of the series are to be issuable as a Global
Security, the identity of the depositary for such series;
(q) The date as of which any
bearer securities of the series and any temporary Global Security
representing outstanding Securities of the series shall be dated if
other than the date of original issuance of the first Security of
the series to be issued; (r) The
person to whom any interest on any registered security of the
series shall be payable, if other than the person in whose name
that Security (or one or more predecessor securities) is registered
at the close of business on the regular record date for such
interest, the manner in which, or the person to whom, any interest
on any bearer security of the series shall be
10
payable, if otherwise than upon presentation and surrender of
the coupons appertaining thereto as they severally mature, and the
extent to which, or the manner in which, any interest payable on a
temporary Global Security on an interest payment date will be paid
if other than in the manner provided in the indenture;
(s) Whether such Securities will
be issued in certificated or book entry form;
(t) The applicability, if any,
of the legal defeasance and covenant defeasance provisions of the
indenture to the Securities of the series;
(u) If the Securities of such
series are to be issuable in definitive form (whether upon original
issue or upon exchange of a temporary security of such series) only
upon receipt of certain certificates or other documents or
satisfaction of other conditions, then the form and/or terms of
such certificates, documents or conditions;
(v) Whether the Securities will
be listed for trading on an exchange and the identity of such
exchange; (w) Whether any
underwriters will act as market makers for the Securities;
(x) Any guarantees of such
Securities by the Guarantors or other Subsidiaries of the Company
or others; (y) Any conversion or
exchange features applicable to the Securities; and
(z) Any other terms of the
series. SECTION 2.02
[RESERVED]. SECTION 2.03
Execution and Authentication.
Two Officers shall sign the
Securities for the Company by manual or facsimile signature. If an
Officer whose signature is on a Security no longer holds that
office at the time the Security is authenticated, the Security
shall be valid nevertheless. A
Security shall not be valid until authenticated by the manual
signature of the Trustee. The signature shall be conclusive
evidence that the Security has been authenticated under this
Indenture. The Trustee shall, upon a
written order of the Company signed by one Officer of the Company,
authenticate for original issue Securities in aggregate principal
amount specified in such order. The
Trustee may appoint an authenticating agent reasonably acceptable
to the Company to authenticate Securities. Unless limited by the
terms of such appointment, an authenticating agent may authenticate
Securities whenever the Trustee may do so. Each reference in this
Indenture to authentication by the Trustee includes authentication
by such agent. An authenticating agent has the same rights as an
Agent to deal with the Company or an Affiliate of the Company.
11
SECTION 2.04 Registrar and
Paying Agent. The Company shall
maintain an office or agency where Securities may be presented for
registration of transfer or for exchange (the "
Registrar ") and an office or agency where Securities
may be presented for payment (the " Paying Agent ").
The Registrar shall keep a register of the Securities (the "
Register ") and of their transfer and exchange. The
Company may appoint one or more co-Registrars and one or more
additional Paying Agents for the Securities. The term "Paying
Agent" includes any additional paying agent and the term
"Registrar" includes any additional registrar. The Company may
change any Paying Agent or Registrar without prior notice to any
Holder. The Company shall enter into
an appropriate agency agreement with any Agent not a party to this
Indenture, which shall incorporate the terms of the TIA and
implement the terms of this Indenture that relate to such Agent.
The Company shall give prompt written notice to the Trustee of the
name and address of any Agent who is not a party to this Indenture.
If the Company fails to appoint or maintain another entity as
Registrar or Paying Agent, the Trustee shall act as such. The
Company or any Affiliate of the Company may act as Paying Agent or
Registrar; provided, however, that none of the Company, its
Subsidiaries or the Affiliates of the foregoing shall act
(i) as Paying Agent in connection with redemptions, offers to
purchase, discharges and defeasance, as otherwise specified in this
Indenture, and (ii) as Paying Agent or Registrar if a Default
or Event of Default has occurred and is continuing.
The Company initially appoints The
Depository Trust Company to act as Depositary with respect to the
Global Securities. The Company hereby
initially appoints the Trustee as Registrar and Paying Agent for
the Securities. SECTION 2.05
Paying Agent to Hold Assets in Trust.
Not later than 11:00 a.m. (New
York City time) on each due date of the principal and interest on
any Securities, the Company shall deposit with one or more Paying
Agents money in immediately available funds sufficient to pay such
principal and interest so becoming due. The Company shall require
each Paying Agent other than the Trustee to agree in writing that
the Paying Agent shall hold in trust for the benefit of Holders or
the Trustee all assets held by the Paying Agent for the payment of
principal of and interest on the Securities (whether such money has
been paid to it by the Company or any other obligor on the
Securities, including any Guarantor) and shall notify the Trustee
of any failure by the Company (or any other obligor on the
Securities, including any Guarantor) in making any such payment.
While any such failure continues, the Trustee may require a Paying
Agent to pay all money held by it to the Trustee and to account for
any funds disbursed. The Company at any time may require a Paying
Agent to pay all money held by it to the Trustee. Upon payment over
to the Trustee, the Paying Agent (if other than the Company or a
Subsidiary of the Company) shall have no further liability for the
money so paid over to the Trustee. If
the Company or any Subsidiary of the Company or any Affiliate of
any of them acts as Paying Agent, it shall, prior to or on each due
date of any principal of or interest on the Securities,
12
segregate and hold in a separate trust fund for the benefit of
the Holders a sum of money sufficient with monies held by all other
Paying Agents, to pay such principal or interest so becoming due
until such sum of money shall be paid to such Holders or otherwise
disposed of as provided in this Indenture, and will promptly notify
the Trustee of its actions or failure to act.
SECTION 2.06 Holder Lists.
The Trustee shall preserve in as
current a form as is reasonably practicable the most recent list
available to it of the names and addresses of Holders and shall
otherwise comply with Section 312(a) of the TIA. If the Trustee is
not the Registrar, the Company shall furnish to the Trustee prior
to or on each interest payment date for the Securities and at such
other times as the Trustee may request in writing, a list in such
form and as of such date as the Trustee may reasonably require of
the names and addresses of Holders relating to such interest
payment date or request, as the case may be.
SECTION 2.07 General Provisions
Relating to Transfer and Exchange.
The Securities are issuable only in
registered form. A Holder may transfer a Security only by written
application to the Registrar or another transfer agent stating the
name of the proposed transferee and otherwise complying with the
terms of this Indenture. No such transfer shall be effected until,
and such transferee shall succeed to the rights of a Holder only
upon, final acceptance and registration of the transfer by the
Registrar in the Register. Prior to the registration of any
transfer by a Holder as provided herein, the Company, the Trustee,
and any agent of the Company shall treat the person in whose name
the Security is registered as the owner thereof for all purposes
whether or not the Security shall be overdue, and neither the
Company, the Trustee, nor any such agent shall be affected by
notice to the contrary. Furthermore, any Holder of a Global
Security shall, by acceptance of such Global Security, agree that
transfers of beneficial interests in such Global Security may be
effected only through a book-entry system maintained by the Holder
of such Global Security (or its agent) and that ownership of a
beneficial interest in the Security shall be required to be
reflected in a book-entry. When
Securities are presented to the Registrar or another transfer agent
with a request to register the transfer or to exchange them for an
equal principal amount of Securities of other authorized
denominations, the Registrar shall register the transfer or make
the exchange as requested if its requirements for such transactions
are met (including that such Securities are duly endorsed or
accompanied by a written instrument of transfer duly executed by
the Holder thereof or by an attorney who is authorized in writing
to act on behalf of the Holder). Subject to Section 2.03, to
permit registrations of transfers and exchanges, the Company shall
execute and the Trustee shall authenticate Securities at the
Registrar’s request. No service charge shall be made for any
registration of transfer or exchange or redemption of the
Securities, but the Company may require payment of a sum sufficient
to cover any transfer tax or similar governmental charge payable in
connection therewith (other than any such transfer taxes or other
similar governmental charge payable upon exchanges pursuant to
Section 2.13, 3.06 or 9.05 hereof).
13
Neither the Registrar nor any
other transfer agent nor the Company shall be required to:
(i) issue, register the transfer of
or exchange any Security during a period beginning at the opening
of business 15 Business Days before the day of any selection of
Securities for redemption under Section 3.02 hereof and ending
at the close of business on the day of selection; or
(ii) register the transfer of or
exchange any Security so selected for redemption in whole or in
part, except the unredeemed portion of any Security being redeemed
in part. Each Holder of a Security
agrees to indemnify the Company and the Trustee against any
liability that may result from the transfer, exchange or assignment
of such Holder’s Security in violation of any provision of
this Indenture and/or applicable United States Federal or state
securities law. The Trustee shall
have no obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this
Indenture or under applicable law with respect to any transfer of
any interest in any Security (including any transfers between or
among DTC Participants or beneficial owners of interests in any
Global Security) other than to require delivery of such
certificates and other documentation or evidence as are expressly
required by, and to do so if and when expressly required by the
terms of, this Indenture, and to examine the same to determine
substantial compliance as to form with the express requirements
hereof. SECTION 2.08 Book-Entry
Provisions for Global Securities.
(a) The Global Securities
initially shall: (i) be registered in
the name of the Depositary or the nominee of such Depositary; and
(ii) be delivered to the Trustee as
custodian for such Depositary.
Members of, or participants in, the
Depositary (" DTC Participants ") shall have no
rights under this Indenture with respect to any Global Security
held on their behalf by the Depositary, or the Trustee as its
custodian, or under such Global Security, and the Depositary may be
treated by the Company, the Trustee and any agent of the Company or
the Trustee as the absolute owner of such Global Security for all
purposes whatsoever. Notwithstanding the foregoing, nothing
contained herein shall prevent the Company, the Trustee or any
agent of the Company or the Trustee, from giving effect to any
written certification, proxy or other authorization furnished by
the Depositary or impair, as between the Depositary and the DTC
Participants, the operation of customary practices governing the
exercise of the rights of a Holder of any Security.
(b) Transfers of a Global
Security shall be limited to transfers of such Global Security in
whole, but not in part, to the Depositary, its successors or their
respective nominees. Beneficial owners may transfer their interests
in Global Securities in accordance with the rules and procedures of
the Depositary. (c) Any
beneficial interest in one of the Global Securities that is
transferred to a person who takes delivery in the form of an
interest in another Global Security will, upon transfer, cease to
be an interest in such Global Security and become an interest in
such other Global Security and,
14
accordingly, will thereafter be subject to all transfer
restrictions, if any, and other procedures applicable to beneficial
interests in such other Global Security for as long as it remains
such an interest. (d) The
registered Holder of a Global Security may grant proxies and
otherwise authorize any Person, including DTC Participants and
Persons that may hold interests through DTC Participants, to take
any action that a Holder is entitled to take under this Indenture
or the Securities. (e) If at any
time: (i) the Company notifies the
Trustee in writing that the Depositary is no longer willing or able
to continue to act as Depositary for the Global Securities or the
Depositary ceases to be a "clearing agency" registered under the
Exchange Act, and a successor depositary for the Global Securities
is not appointed by the Company within 90 days of such notice
or cessation; (ii) the Company, at
its option, notifies the Trustee in writing that it elects to cause
the issuance of the Securities in definitive form under this
Indenture in exchange for all or any part of the Securities
represented by a Global Security or Global Securities; or
(iii) an Event of Default has
occurred and is continuing and the Registrar has received a request
from the Depositary, subject to this Section 2.08(e), the
Depositary shall surrender such Global Security or Global
Securities to the Trustee for cancellation and then the Company
shall execute, and the Trustee shall authenticate and deliver in
exchange for such Global Security or Global Securities, Physical
Securities, as applicable, in an aggregate principal amount equal
to the principal amount of such Global Security or Global
Securities. Such Physical Securities shall be registered in such
names as the Depositary shall identify in writing as the beneficial
owners, or participant nominees, of the Securities represented by
such Global Security or Securities (or any nominee thereof).
(f) Notwithstanding the
foregoing, in connection with any transfer of a portion of the
beneficial interests in a Global Security to beneficial owners
pursuant to paragraph (e) of this Section 2.08, the
Registrar shall reflect on its books and records the date and a
decrease in the principal amount of such Global Security in an
amount equal to the principal amount of the beneficial interest in
such Global Security to be transferred, and the Company shall
execute, and the Trustee shall authenticate and deliver, one or
more Physical Securities of like tenor and amount.
SECTION 2.09 [RESERVED].
SECTION 2.10 Replacement
Securities. If a mutilated
Security is surrendered to the Trustee or if the Holder of a
Security claims that the Security has been lost, destroyed or
wrongfully taken, the Company shall issue and the Trustee shall
authenticate a replacement Security if the requirements of the
Trustee and the Company are met; provided that, if any such
Security has been called for redemption in
15
accordance with the terms thereof, the Trustee may pay the
Redemption Price thereof on the Redemption Date without
authenticating or replacing such Security. The Trustee or the
Company may, in either case, require the Holder to provide an
indemnity bond sufficient in the judgment of each of the Trustee
and the Company to protect the Company, the Trustee or any Agent
from any loss which any of them may suffer if a Security is
replaced or if the Redemption Price therefor is paid pursuant to
this Section 2.10. The Company may charge the Holder who has
lost a Security for its expenses in replacing a Security.
Every replacement Security is an
obligation of the Company and shall be entitled to the benefits of
this Indenture equally and proportionately with any and all other
Securities duly issued hereunder.
SECTION 2.11 Outstanding
Securities. The Securities
outstanding at any time are all the Securities authenticated by the
Trustee, except for (i) those cancelled by it, (ii) those
delivered to it for cancellation and (iii) those described in
this Section as not outstanding. If a
Security is replaced pursuant to Section 2.10 hereof, it
ceases to be outstanding and interest ceases to accrue unless the
Trustee receives proof satisfactory to it that the replaced
Security is held by a bona fide purchaser.
If all principal of and interest on
any Security are considered paid under Section 4.01 hereof,
such Security ceases to be outstanding and interest on it ceases to
accrue. Except as provided in
Section 2.12 hereof, a Security does not cease to be
outstanding because the Company or an Affiliate of the Company
holds such Security. SECTION 2.12
Treasury Securities. In
determining whether the Holders of the required principal amount of
Securities of any series have concurred in any direction, waiver or
consent, Securities owned by the Company or an Affiliate of the
Company shall be considered as though they are not outstanding,
except that for the purposes of determining whether the Trustee
shall be protected in relying on any such direction, waiver or
consent, only Securities which such Trustee actually knows are so
owned shall be so disregarded.
SECTION 2.13 Temporary
Securities. Until definitive
Securities are ready for delivery, the Company may prepare and
execute, and the Trustee shall authenticate upon a written order of
the Company signed by one Officer of the Company, temporary
Securities. Temporary Securities shall be substantially in the form
of definitive Securities but may have variations that the Company
considers appropriate for temporary Securities. Without
unreasonable delay, the Company shall prepare, and the Trustee
shall authenticate, definitive Securities in exchange for temporary
Securities. Holders of temporary Securities shall be entitled to
all of the benefits of this Indenture.
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SECTION 2.14 Cancellation.
The Company at any time may deliver
Securities to the Trustee for cancellation. The Registrar and
Paying Agent shall forward to the Trustee any Securities
surrendered to them for registration of transfer, exchange, payment
or repurchase. The Trustee shall cancel all Securities surrendered
for registration of transfer, exchange, payment, repurchase,
redemption, replacement or cancellation and shall return such
cancelled Securities to the Company upon the Company’s
written request (subject to the record retention requirements of
the Exchange Act). The Company may not issue new Securities to
replace Securities that it has paid or that have been delivered to
the Trustee for cancellation. SECTION
2.15 CUSIP Numbers. The
Company in issuing the Securities may use "CUSIP" numbers (if then
generally in use), and the Trustee shall use CUSIP numbers in
notices of redemption or exchange as a convenience to Holders;
provided that any such notice shall state that no
representation is made as to the correctness of such numbers either
as printed on the Securities or as contained in any such notice and
that reliance may be placed only on the other identification
numbers printed on the Securities, and any such redemption shall
not be affected by any defect in or omission of such numbers. The
Company shall promptly notify the Trustee of any change in the
CUSIP numbers. SECTION 2.16
Defaulted Interest. If the
Company fails to make a payment of interest on Securities, it shall
pay such defaulted interest plus (to the extent lawful) any
interest payable on the defaulted interest, in any lawful manner.
It may elect to pay such defaulted interest, plus any such interest
payable on it, to the Persons who are Holders of such Securities on
which the interest is due on a subsequent special record date. The
Company shall notify the Trustee in writing of the amount of
defaulted interest proposed to be paid on each such Security. The
Company shall fix any such record date and payment date for such
payment. At least 15 days before any such record date, the
Company shall mail to Holders affected thereby a notice that states
the record date, interest payment date, and amount of such interest
to be paid. SECTION 2.17 Special
Record Dates. The Company may,
but shall not be obligated to, set a record date for the purpose of
determining the identity of Holders of Securities entitled to
consent to any supplement, amendment or waiver permitted by this
Indenture. If a record date is fixed, the Holders of Securities
outstanding on such record date, and no other Holders, shall be
entitled to consent to such supplement, amendment or waiver or
revoke any consent previously given, whether or not such Holders
remain Holders after such record date. No consent shall be valid or
effective for more than 90 days after such record date unless
consents from Holders of the principal amount of Securities
required hereunder for such amendment or waiver to be effective
shall have also been given and not revoked within such 90-day
period. SECTION 2.18
[RESERVED].
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ARTICLE III REDEMPTION
SECTION 3.01 Notices to
Trustee. If the Company elects to
redeem any series of Securities pursuant to the optional redemption
provisions thereof, it shall notify the Trustee in writing of the
intended Redemption Date, the principal amount of Securities to be
redeemed and the CUSIP numbers of the Securities to be redeemed.
The Company shall give each notice
provided for in this Section 3.01 and an Officers’
Certificate at least 5 days before the giving of the notice of
redemption (unless a shorter period shall be satisfactory to the
Trustee). SECTION 3.02 Selection
of Securities to Be Redeemed. If
fewer than all the Securities of any series are to be redeemed, the
Trustee shall select the Securities of such series to be redeemed
from the outstanding Securities of such series by a method that
complies with the requirements of any exchange on which the
Securities are listed, or, if the Securities are not listed on an
exchange, on a pro rata basis or by lot or in accordance
with any other method the Trustee considers fair and appropriate.
Securities and portions thereof of
any series that the Trustee selects shall be in amounts equal to
the minimum authorized denomination for Securities to be redeemed
or any integral multiple thereof. Provisions of this Indenture that
apply to Securities of any series called for redemption also apply
to portions of Securities of such series called for redemption. The
Trustee shall notify the Company promptly in writing of the
Securities or portions of Securities of any series to be called for
redemption. SECTION 3.03 Notice of
Redemption. At least 30 days
but not more than 60 days before the Redemption Date, the
Company shall mail a notice of redemption by first-class mail to
each Holder whose Securities are to be redeemed at the address of
such Holder appearing in the Register.
The notice shall identify the
Securities to be redeemed and shall state:
(i) the Redemption Date;
(ii) the method being used to
determine the Redemption Price; (iii)
if fewer than all outstanding Securities are to be redeemed, the
portion of the principal amount of the Securities to be redeemed
and that, after the Redemption Date, upon surrender of such
Security, a new Security in principal amount equal to the
unredeemed portion will be issued;
(iv) the name and address of the
Paying Agent;
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(v) that Securities called for
redemption must be presented and surrendered to the Paying Agent to
collect the Redemption Price; (vi)
that, unless the Company defaults in payment of the Redemption
Price, interest on Securities called for redemption ceases to
accrue interest on and after the Redemption Date; and
(vii) the CUSIP numbers, if any, of
the Securities to be redeemed. At the
Company’s written request, the Trustee shall give the notice
of redemption in the Company’s name and at its expense. The
notice mailed in the manner herein provided shall be conclusively
presumed to have been duly given whether or not the Holder receives
such notice. In any case, failure to give such notice by mail or
any defect in the notice to the Holder of any Securities shall not
affect the validity of the proceeding for the redemption of any
other Securities. SECTION 3.04
Effect of Notice of Redemption.
Once the notice of redemption is
mailed, Securities called for redemption become irrevocably due and
payable on the Redemption Date at the Redemption Price. Upon
surrender to the Paying Agent, such Securities shall be paid at the
Redemption Price. SECTION 3.05
Deposit of Redemption Price.
Prior to 11:00 a.m., New York
City time, on the Redemption Date, the Company shall deposit with
the Trustee or with the Paying Agent (or, if the Company or an
Affiliate of the Company is acting as the paying Agent, shall
segregate and hold in trust) an amount of money sufficient to pay
the Redemption Price of all Securities to be redeemed on that date.
The Paying Agent shall promptly return to the Company any amount of
money not required for that purpose.
SECTION 3.06 Securities Redeemed
in Part. Upon surrender of a
Security that is redeemed in part, the Company shall execute and
the Trustee shall authenticate for the Holder at the expense of the
Company, a new Security equal in principal amount to the unredeemed
portion of the Security surrendered. ARTICLE IV COVENANTS
SECTION 4.01 Payment of
Securities. The Company shall
pay, or cause to be paid, the principal of and interest on the
Securities on the dates and in the manner provided in this
Indenture and the Securities. Principal and interest shall be
considered paid on the date due if the Paying Agent, if other than
the Company, a Subsidiary of the Company or any Affiliate of any of
them, holds as of 11:00 a.m. (New York City time) on that date
immediately available funds designated for and sufficient to pay
all principal and interest then due. If the Company or any
Subsidiary of the Company or any Affiliate of any of
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them acts as Paying Agent, principal or interest shall be
considered paid on the due date if the entity acting as Paying
Agent complies with the second paragraph of Section 2.05
hereof. The Company shall pay
interest on overdue principal and premium, and interest on overdue
installments of interest, to the extent lawful, at the rate per
annum specified therefor in the Securities.
Notwithstanding anything to the
contrary contained in this Indenture, the Company may, to the
extent it is required to do so by law, deduct or withhold income or
other similar taxes imposed by the United States of America from
principal or interest payments hereunder.
SECTION 4.02 Maintenance of Office
or Agency. The Company shall
maintain in the Borough of Manhattan, The City of New York, an
office or agency (which may be an office of the Trustee or an
affiliate of the Trustee or Registrar) where the Securities may be
surrendered for registration of transfer or exchange and where
notices and demands to or upon the Company in respect of the
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 such office or agency. If at any time
the Company fails to maintain any such required office or agency or
fails to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or
served at the Corporate Trust Office of the Trustee.
The Company may also from time to
time designate one or more other offices or agencies where the
Securities may be presented or surrendered for any or all such
purposes and may from time to time rescind such designations;
provided, however, that no such designation or rescission
shall in any manner relieve the Company of its obligation to
maintain an office or agency in the Borough of Manhattan, The City
of New York for such purposes. The Company shall give prompt
written notice to the Trustee of any such designation or rescission
and of any change in the location of any such other office or
agency. The Company hereby designates
the New York office of the Trustee located at
, as one such office or agency of the Company in accordance with
Section 2.04 hereof. SECTION
4.03 Reports. (a) The
Company shall deliver to the Trustee within 15 days after it
files them with the SEC copies of the annual reports and of the
information, documents, and other reports (or copies of such
portions of any of the foregoing as the SEC may by rules and
regulations prescribe) which the Company is required to file with
the SEC pursuant to Section 13 or 15(d) of the Exchange Act;
provided, however, the Company shall not be required to
deliver to the Trustee any materials for which the Company has
sought and received confidential treatment by the SEC. The Company
also shall comply with the other provisions of Section 314(a) of
the TIA. (b) Delivery of
reports, information and documents to the Trustee pursuant to this
Section 4.03 is for informational purposes only and the
Trustee’s receipt of such shall not constitute constructive
notice of any information contained therein or determinable
from
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infor
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