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Exhibit 4.2(d) THIS SECURITY IS AN OBLIGATION OF
KEYCORP AND IS NOT AND WILL NOT BE A SAVINGS ACCOUNT, A DEPOSIT OR
OTHER OBLIGATION OF ANY BANK OR NONBANK SUBSIDIARY OF KEYCORP. THIS
SECURITY IS GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION
("FDIC"), AND THE RIGHTS OF THE HOLDER OF THIS SECURITY ARE SUBJECT
TO CERTAIN RIGHTS OF THE FDIC, AS AND TO THE EXTENT SET FORTH IN
THIS SECURITY, INCLUDING SECTIONS 13, 14, 15, 16, 17, 18, 19, 20
AND 21 ON THE REVERSE HEREOF. CUSIP NO.
REGISTERED PRINCIPAL AMOUNT $
No. FX-______ KEYCORP
MEDIUM-TERM NOTE, SERIES I
(FIXED RATE) Due from 9 Months or More from Date of Issue If the
registered owner of this Security (as indicated below) is The
Depository Trust Company (the " Depository ") or a nominee
of the Depository, this Security is a Global Security and the
following two legends apply: 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 such certificate issued is registered in
the name of CEDE & CO., or such other name as requested by an
authorized representative of the Depository, 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. Unless and until this certificate is
exchanged in whole or in part for Notes in certificated form, this
certificate may not be transferred except as a whole by the
Depository to a nominee thereof or by a nominee thereof to the
Depository or another nominee of the Depository or by the
Depository or any such nominee to a successor of the Depository or
a nominee of such successor. IF APPLICABLE, THE " TOTAL
AMOUNT OF OID ," " YIELD TO MATURITY " AND " INITIAL
ACCRUAL PERIOD OID " (COMPUTED UNDER THE APPROXIMATE METHOD)
BELOW WILL BE COMPLETED SOLELY FOR THE PURPOSES OF APPLYING THE
FEDERAL INCOME TAX ORIGINAL ISSUE DISCOUNT (" OID ")
RULES.
ISSUE PRICE: ORIGINAL ISSUE PRICE: STATED MATURITY: MINIMUM
DENOMINATIONS:
o $1,000
o Other: SPECIFIED
CURRENCY:
United States Dollars:
o
YES o NO FOREIGN CURRENCY: EXCHANGE RATE AGENT
PAYING AGENT: PLACE OF PAYMENT: OPTION TO RECEIVE PAYMENTS IN
SPECIFIED CURRENCY OTHER THAN U.S. DOLLARS: o YES
o NO INTEREST RATE: COMPUTATION
PERIOD: INTEREST PAYMENT DATES IF OTHER THAN JUNE 15 AND DECEMBER
15: REGULAR RECORD DATES IF OTHER THAN JUNE 1 AND DECEMBER 1:
OPTIONAL REDEMPTION: o
YES o NO INITIAL REDEMPTION DATE: ADDITIONAL
REDEMPTION DATES: INITIAL REDEMPTION PERCENTAGE: ANNUAL REDEMPTION
PERCENTAGE REDUCTION: OPTION TO ELECT REPAYMENT: o YES
o NO REPAYMENT DATE(S):
REPAYMENT PRICE: ADDITIONAL AMOUNTS: DEFEASANCE: o YES
o NO COVENANT DEFEASANCE:
o
YES o NO OPTIONAL INTEREST RATE RESET:
o
YES o NO OPTIONAL INTEREST RATE RESET DATES:
OPTIONAL EXTENSION OF MATURITY: o YES
o NO LENGTH OF EXTENSION
PERIOD: NUMBER OF EXTENSION PERIODS: TOTAL AMOUNT OF OID: ORIGINAL
YIELD TO MATURITY: INITIAL ACCRUAL PERIOD OID: SINKING FUND:
OTHER/DIFFERENT PROVISIONS:
2
KEYCORP, an Ohio corporation
(herein referred to as the " Company ," which term includes
any successor corporation under the Indenture hereinafter referred
to), for value received, hereby promises to pay to CEDE & CO.
or registered assigns, the principal sum of
DOLLARS ($ ) on the Stated Maturity shown above (except to
the extent redeemed, repaid, renewed or extended prior to the
Stated Maturity) and to pay interest thereon at the Interest Rate
shown above from the Original Issue Date shown above or from the
most recent Interest Payment Date to which interest, if any, has
been paid or duly provided for, semi-annually on June 15 and
December 15 of each year (unless other Interest Payment Dates
are shown on the face hereof and except as provided in the next
succeeding paragraph) (each, an " Interest Payment Date ")
until the principal hereof is paid or made available for payment
and on the Stated Maturity, any Redemption Date or Repayment Date
(such terms are together hereinafter referred to as the "
Maturity Date " with respect to the principal repayable on
such date); provided , however , that any payment of
principal (or premium, if any) or interest, if any, to be made on
any Interest Payment Date or on the Maturity Date that is not a
Business Day (as defined below) shall be made on the next
succeeding Business Day with the same force and effect as if made
on such Interest Payment Date or the Maturity Date, as the case may
be, and no additional interest, if any, shall accrue on the amount
so payable as a result of such delayed payment.
For purposes of this Security, unless
otherwise specified on the face hereof, " Business Day "
means any day, other than a Saturday or Sunday, that is not a legal
holiday nor a day on which commercial banks are authorized or
required by law, regulation or executive order to close in New York
City; provided , however , that with respect to
foreign currency Notes, such day is also not a day on which
commercial banks are authorized or required by law, regulation or
executive order to close in the Principal Financial Center (as
defined below) of the country issuing the Specified Currency (or if
the Specified Currency is the euro, such day is also a day on which
the Trans-European Automated Real-Time Gross Settlement Express
Transfer (TARGET) System is open); provided, however, that,
with respect to Section 17 on the reverse hereof and
Exhibit B hereto, the definition of "Business Day" therein
shall apply. " Principal Financial
Center " means the capital city of the country issuing the
Specified Currency, except that with respect to United States
dollars, Australian dollars, Canadian dollars, euro, New Zealand
dollars, South African rand and Swiss francs, the "principal
financial center" shall be New York City, Sydney, Toronto, London
(solely in the case of the designated LIBOR currency), Wellington,
Johannesburg and Zurich, respectively.
Any interest hereon is accrued from,
and including, the next preceding Interest Payment Date in respect
of which interest, if any, has been paid or duly provided for (or
from, and including, the Original Issue Date if no interest has
been paid) to, but excluding, the succeeding Interest Payment Date
or the Maturity Date, as the case may be. The interest, if any, so
payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in the Indenture (referred to on the
reverse hereof), be paid to the person (the " Holder ") in
whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on the 15th day (whether or not
a Business Day) next preceding such Interest Payment Date (a "
Regular Record Date "); provided , however ,
that, if this Security was issued between a Regular Record Date and
the initial Interest Payment Date relating to such Regular Record
Date, interest, if any, for the period beginning on the Original
Issue Date and ending on such initial Interest Payment
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Date shall be paid on the Interest Payment Date following the
next succeeding Regular Record Date to the Holder hereof on such
next succeeding Regular Record Date; and provided further
that interest, if any, payable on the Maturity Date will be payable
to the person to whom the principal hereof shall be payable. Any
such interest not so punctually paid or duly provided for ("
Defaulted Interest ") 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 Security (or one or more Predecessor
Securities) is registered at the close of business on a special
record date (the " Special Record Date ") for the payment of
such Defaulted Interest to be fixed by the Trustee (referred to on
the reverse hereof), notice whereof shall be given to the Holder of
this Security not less than 10 days prior to such Special
Record Date, or may be paid at any time in any other lawful manner,
all as more fully provided in the Indenture.
The Company and the Trustee
acknowledge that the Company has not opted out of the debt
guarantee program (the " Debt Guarantee Program ")
established by the Federal Deposit Insurance Corporation ("
FDIC ") under its Temporary Liquidity Guarantee Program. As
a result, this debt is guaranteed under the FDIC Temporary
Liquidity Guarantee Program and is backed by the full faith and
credit of the United States. The details of the FDIC guarantee are
provided in the FDIC’s regulations, 12 CFR Part 370, and
at the FDIC’s website, www.fdic.gov/tlgp. The expiration date
of the FDIC’s guarantee is the earlier of the maturity date
of this debt or June 30, 2012.
The Trustee is hereby designated as
the duly authorized representative of the Holder for purposes of
making claims and taking other permitted or required actions under
the Debt Guarantee Program (the " Representative "). Any
Holder may elect not to be represented by the Representative by
providing written notice of such election to the Representative.
Unless otherwise specified above, all
payments in respect of this Security will be made in U.S. dollars
regardless of the Specified Currency shown above unless the Holder
hereof makes the election described below. If the Specified
Currency shown above is other than U.S. dollars, the Exchange Rate
Agent (referred to on the reverse hereof) will arrange to convert
all payments in respect hereof into U.S. dollars in the manner
described on the reverse hereof; provided , however ,
that the Holder hereof may, if so indicated above, elect to receive
all payments in such Specified Currency by delivery of a written
request to the corporate trust office of the Trustee in New York
City, on or prior to the applicable Regular Record Date or at least
15 days prior to the Stated Maturity, as the case may be. Such
request may be in writing with a signature guarantee, mailed or
hand delivered, or by cable, telex, or other form of facsimile
transmission. The Holder hereof may elect to receive payment in
such Specified Currency for all principal, premium, if any, and
interest payments and need not file a separate election for each
payment. Such election will remain in effect until revoked by
written notice to the Trustee, but written notice of any such
revocation must be received by the Trustee on or prior to the
Regular Record Date or at least 15 days prior to the Stated
Maturity, as the case may be. Notwithstanding the foregoing, if the
Company determines that the Specified Currency is not available for
making payments in respect hereof due to the imposition of exchange
controls or other circumstances beyond the Company’s control,
or is no longer used by the government of the country issuing such
currency or for the settlement of transactions by public
institutions of or within the international banking community, then
the Holder hereof may not so elect to receive payments in the
Specified Currency and any such outstanding election shall be
automatically suspended, until the Company determines that the
Specified Currency is again available for making such payments.
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In the event of an official
redenomination of the Specified Currency, the obligations of the
Company with respect to payments on this Security shall, in all
cases, be deemed immediately following such redenomination to
provide for payment of that amount of redenominated currency
representing the amount of such obligations immediately before such
redenomination. In no event shall any adjustment be made to any
amount payable hereunder as a result of any change in the value of
the Specified Currency shown above relative to any other currency
due solely to fluctuations in exchange rates.
Unless otherwise shown above, payment
of interest on this Security (other than on the Maturity Date) will
be made by check mailed to the registered address of the Holder
hereof; provided , however , that, if (i) the
Specified Currency is U.S. dollars and the Holder hereof is the
Holder of U.S.$1,000,000 or more in aggregate principal amount of
Securities of the series of which this Security is a part (whether
having identical or different terms and provisions) or
(ii) the Specified Currency is a Foreign Currency, and the
Holder has elected to receive payments in such Specified Currency
as provided for above, such interest payments will be made by
transfer of immediately available funds, but only if appropriate
instructions have been received in writing by the Trustee on or
prior to the applicable Regular Record Date. Simultaneously with
any election by the Holder hereof to receive payments in respect
hereof in the Specified Currency (if other than U.S. dollars), such
Holder may provide appropriate instructions to the Trustee, and all
such payments will be made in immediately available funds to an
account maintained by the payee with a bank, but only if such bank
has appropriate facilities therefor. Unless otherwise specified
above, the principal hereof (and premium, if any) and interest
hereon payable on the Maturity Date will be paid in immediately
available funds upon surrender of this Security at the corporate
trust office of the Trustee maintained for that purpose in the
Borough of Manhattan, The City and State of New York (or at such
other location as may be specified above). The Company will pay any
administrative costs imposed by banks in making payments in
immediately available funds, but, except as otherwise provided
under Additional Amounts above, any tax, assessment or governmental
charge imposed upon payments will be borne by the Holders of the
Securities in respect of which such payments are made.
Unless otherwise specified on the
face hereof, interest on this Security, if any, will be computed on
the basis of a 360-day year of twelve 30-day months.
REFERENCE IS HEREBY MADE TO THE
FURTHER PROVISIONS OF THIS SECURITY SET FORTH ON THE REVERSE
HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF SET FORTH AT THIS PLACE.
5
Unless the certificate of
authentication hereon has been executed by the Trustee by manual
signature, this Security shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose.
IN WITNESS WHEREOF, the Company has
caused this instrument to be duly executed under its facsimile
corporate seal.
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Attest:
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Assistant Secretary
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[Seal]
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Dated: _______________
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TRUSTEE’S CERTIFICATE OF AUTHENTICATION:
This is one of the Securities of the series designated therein
referred to in the within-mentioned Indenture
DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
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By:
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Authorized Signatory
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6
[REVERSE OF NOTE] KEYCORP
MEDIUM-TERM NOTE, SERIES I
Section 1. General . This
Security is one of a duly authorized issue of securities (herein
called the " Securities ") of the Company, issued and to be
issued in one or more series under and pursuant to an indenture,
dated as of June 10, 1994, as it may be supplemented from time
to time (herein called the " Indenture "), between the
Company and Deutsche Bank Trust Company Americas, as Trustee
(herein called the " Trustee ," which term includes any
successor trustee under the Indenture with respect to a series of
which this Security is a part), to which indenture and all
indentures supplemental thereto, reference is hereby made 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. The
Indenture was amended pursuant to a First Supplemental Indenture
dated as of November 14, 2001, copies of which are available
from the Company or the Trustee. This Security is one of the series
designated on the face hereof, which is unlimited in aggregate
principal amount. Section 2.
Payments . If the Specified Currency is other than U.S.
dollars and the Holder hereof fails to elect payment in such
Specified Currency, the amount of U.S. dollar payments to be made
in respect hereof will be determined by the Exchange Rate Agent
specified on the face hereof or a successor thereto (the "
Exchange Rate Agent ") based on the highest bid quotation in
New York City at approximately 11:00 a.m., New York City time,
on the second Business Day preceding the applicable payment date
from three recognized foreign exchange dealers selected by the
Exchange Rate Agent (one of which may be the Exchange Rate Agent
unless the Exchange Rate Agent is the applicable agent to or
through which this Security was originally sold) for the purchase
by the quoting dealer of the Specified Currency for U.S. dollars
for settlement on such payment date in the aggregate amount of the
Specified Currency payable to all Holders of Securities denominated
in a Foreign Currency scheduled to receive U.S. dollar payments and
at which the applicable dealer commits to execute a contract. If
three of such bid quotations are not available, payments will be
made in the Specified Currency.
Except as set forth below, if the
Specified Currency is other than U.S. dollars and the Specified
Currency is not available due to the imposition of exchange
controls or to other circumstances beyond the Company’s
control, or is no longer used by the government of the country
issuing such currency or for settlement of transactions by public
institutions of or within the international banking community, the
Company will be entitled to make payments in U.S. dollars on the
basis of the noon buying rate in New York City for cable transfers
of such Specified Currency as certified for customs purposes (or,
if not so certified as otherwise determined) by the Federal Reserve
Bank of New York (the " Market Exchange Rate ") as computed
by the Exchange Rate Agent for such Specified Currency on the
second Business Day prior to such payment or, if the Market
Exchange Rate is then not available, on the basis of the most
recently available Market Exchange Rate or as otherwise indicated
on the face hereof. Any payment made under such circumstances in
U.S. dollars where the required payment is in a Specified Currency
other than U.S. dollars will not constitute an Event of Default or
Default under the Indenture.
1
All determinations referred to
above made by the Exchange Rate Agent shall be at its sole
discretion and, in the absence of manifest error, shall be
conclusive for all purposes and binding on the Holder of this
Security. All currency exchange costs
will be borne by the Holder of this Security through deductions
from payments otherwise due to such Holder.
References herein to " U.S.
dollars " or " U.S. $ " or " $ " are to the
currency of the United States of America.
Section 3. Redemption .
If so specified on the face hereof, the Company may at its option
redeem this Security in whole or from time to time in part in
increments of $1,000 (provided that any remaining principal amount
of this Security shall not be less than the minimum authorized
denomination of such Security) on or after the date designated as
the Initial Redemption Date on the face hereof at 100% of the
unpaid principal amount hereof or the portion thereof redeemed (or,
if this Security is a Discount Security, such lesser amount as is
provided for below) multiplied by the Initial Redemption Percentage
specified on the face hereof, together with accrued interest to the
Redemption Date. Such Initial Redemption Percentage shall decline
at each anniversary of the Initial Redemption Date by an amount
equal to the Annual Redemption Percentage Reduction specified on
the face hereof until the redemption price is 100% of such amount.
The Company may exercise such option by causing the Trustee to mail
a notice of such redemption at least 30 but not more than 60 days
prior to the Redemption Date. In the event of redemption of this
Security in part only, a new Security or Securities for the
unredeemed portion hereof shall be issued in the name of the Holder
hereof upon the cancellation hereof. If less than all the
Securities of the series, of which this Security is a part, with
differing issue dates, interest rates and stated maturities are to
be redeemed, the Company in its sole discretion shall select the
particular Securities to be redeemed and shall notify the Trustee
in writing thereof at least 45 days prior to the relevant
redemption date. If less than all of the Securities with like tenor
and terms to this Security are to be redeemed, the Securities to be
redeemed shall be selected by the Trustee by such method as the
Trustee shall deem fair and appropriate.
Section 4. Repayment . If
so specified on the face hereof, this Security shall be repayable
prior to the Stated Maturity at the option of the Holder on each
applicable Repayment Date shown on the face hereof at the Repayment
Price shown on the face hereof, together with accrued interest to
the Repayment Date. In order for this Security to be repaid, the
Paying Agent must receive at least 30 but not more than
45 days prior to a Repayment Date this Security with the form
attached hereto entitled " Option to Elect Repayment " duly
completed. Except as set forth in Section 308 of the
Indenture, any tender of this Security for repayment shall be
irrevocable. The repayment option may be exercised by the Holder of
this Security in whole or in part in increments of $1,000 (provided
that any remaining principal amount of this Security shall not be
less than the minimum authorized denomination hereof). Upon any
partial repayment, this Security shall be canceled and a new
Security or Securities for the remaining principal amount hereof
shall be issued in the name of the Holder of this Security.
Section 5. Sinking Fund .
Unless otherwise specified on the face hereof, this Security will
not be subject to any sinking fund.
Section 6. Discount
Securities . If this Security (such Security being referred to
as an " Original Issue Discount Security ") (a) has
been issued at an Issue Price lower, by more than a de
minimis amount (as determined under United States federal
income tax rules applicable to
2
original issue discount instruments), than its "stated
redemption price at Maturity" (as defined below) and (b) would
be considered an original issue discount security for United States
federal income tax purposes, then the amount payable on this
Security in the event of redemption by the Company, repayment at
the option of the Holder or acceleration of the maturity hereof, in
lieu of the principal amount due at the Stated Maturity hereof,
shall be the Amortized Face Amount (as defined below) of this
Security as of the date of such redemption, repayment or
acceleration. The " Amortized Face Amount " of this Security
shall be the amount equal to the sum of (a) the Issue Price
(as set forth on the face hereof) plus (b) the aggregate of
the portions of the original issue discount (the excess of the
amounts considered as part of the "stated redemption price at
maturity" of this Security within the meaning of
Section 1273(a)(2) of the Internal Revenue Code of 1986, as
amended (the " Code "), whether denominated as principal or
interest, over the Issue Price of this Security) which shall
theretofore have accrued pursuant to Section 1272 of the Code
(without regard to Section 1272(a)(7) of the Code) from the
date of issue of this Security to the date of determination, minus
(c) any amount considered as part of the "stated redemption
price at maturity" of this Security which has been paid on this
Security from the date of issue to the date of determination.
Section 7. Modifications and
Waivers . 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. Such amendment may be effected
under the Indenture at any time by the Company and the Trustee with
the consent of the Holders of not less than a 66-2/3% in principal
amount of all Outstanding Securities affected thereby. The
Indenture also contains provisions permitting the Holders of not
less than 66-2/3% in principal amount of the Outstanding
Securities, on behalf of the Holders of all Outstanding Securities,
to waive compliance by the Company with certain provisions of the
Indenture. Provisions in the Indenture also permit the Holders of
not less than 66-2/3% in principal amount of all Outstanding
Securities of any series to waive on behalf of all of the Holders
of all the Securities of such series and any related coupons
certain past defaults under the Indenture and their consequences.
Any such consent or waiver shall be conclusive and binding upon the
Holder of this Security and upon all future Holders of this
Security and of any Security issued upon the registration of
transfer hereof or in exchange herefor or in lieu hereof, whether
or not notation of such consent or waiver is made upon this
Security. Section 8. Ranking;
Obligations of the Company Absolute . The Securities are
unsecured and rank pari passu with all other unsecured and
unsubordinated indebtedness of the Company.
No reference herein to the Indenture
and no provision of this Security or of the Indenture shall alter
or impair the obligation of the Company, which is absolute and
unconditional, to pay the principal of (and premium, if any) and
interest on this Security at the times, place and rate, and in the
Specified Currency herein prescribed.
Section 9. Defeasance and
Covenant Defeasance . The Indenture contains provisions for
defeasance at any time of (a) the entire indebtedness of the
Company on this Security and (b) certain restrictive covenants and
the related defaults and Events of Default, upon compliance by the
Company with certain conditions set forth therein, which provisions
apply to this Security, unless otherwise specified on the face
hereof. Section 10.
Authorized Denominations . Unless otherwise provided on the
face hereof, this Security is issuable only in registered form
without coupons issued in denominations of
3
$1,000 or any amount in excess thereof which is an integral
multiple of $1,000. If this Security is denominated in a Specified
Currency other than U.S. dollars or is an Original Issue Discount
Security, this Security shall be issuable in the denominations set
forth on the face hereof.
Section 11. Registration of
Transfer . As provided in the Indenture and subject to certain
limitations herein and therein set forth, the transfer of this
Security is registrable in the Security Register upon surrender of
this Security for registration of transfer at a Place of Payment
for the series of Securities of which this Security is a part, 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 Securities of this series,
of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.
If the registered owner of this
Security is the Depository (such a Security being referred to
herein as a " Global Security ") and (i) the Depository
is at any time unwilling or unable to continue as depository and a
successor depository is not appointed by the Company within
90 days following notice to the Company or (ii) an Event
of Default occurs, the Company will issue Securities in
certificated form in exchange for this Global Security. In
addition, the Company may at any time determine not to have
Securities represented by this Global Security and, in such event,
will issue Securities in certificated form in exchange in whole for
this Global Security representing such Security. In any such
instance, an owner of a beneficial interest in a Global Security
will be entitled to physical delivery in certificated form of
Securities equal in principal amount to such beneficial interest
and to have such Securities registered in its name. Securities so
issued in certificated form will be issued in denominations of
$1,000 (or such other denomination as shall be specified by the
Company) or any amount in excess thereof which is an integral
multiple of $1,000 and will be issued in registered form only,
without coupons. 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. Prior to due presentment
of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the
Holder as the owner hereof for all purposes, whether or not this
Security be overdue, and neither the Company, the Trustee nor any
such agent shall be affected by notice to the contrary.
Section 12. Events of
Default . If an Event of Default with respect to the Securities
of the series of which this Security forms a part shall have
occurred and be continuing, the principal of this Security may be
declared due and payable in the manner and with the effect provided
in the Indenture. Section 13.
Remedies . Sections 501 and 502 of the Indenture are
hereby amended with respect to the Securities of this series to the
extent necessary to comply with Section 5.01 and Annex A of
the Master Agreement, executed by the Company and delivered to the
FDIC on December 8, 2008, as the same may be amended from time
to time (the " Master Agreement "), by and between the
Company and the FDIC, attached hereto as Exhibit A .
Subject to the immediately preceding sentence and Section 19
of the reverse of this Security, if an Event of Default with
respect to Securities of this series shall occur and be continuing,
the principal of the Securities of this series may be declared due
and payable in the manner and with the effect provided in the
Indenture.
4
Section 14.
Subrogation . The FDIC shall be subrogated to all of the
rights of the Holder and the Representative under this Security and
the Indenture against the Company in respect of any amounts paid to
the Holder, or for the benefit of the Holder, by the FDIC pursuant
to the Debt Guarantee Program.
Section 15. Agreement to
Execute Assignment upon Guarantee Payment . The Holder hereby
authorizes the Representative, at such time as the FDIC shall
commence making any guarantee payments to the Representative for
the benefit of the Holder pursuant to the Debt Guarantee Program,
to execute an assignment in the form attached to this Security as
Exhibit B pursuant to which the Representative shall
assign to the FDIC its right as Representative to receive any and
all payments from the Company under this Security on behalf of the
Holder. The Company hereby consents and agrees that the FDIC is an
acceptable transferee for all or any portion of the indebtedness
hereunder for all purposes of this Security and upon any such
assignment, the FDIC shall be deemed the Holder of this Security
for all purposes hereof, and the Company hereby agrees to take such
reasonable steps as are necessary to comply with any relevant
provision of this Security and the Indenture as a result of such
assignment. Section 305 of the
Indenture is hereby amended with respect to the Securities of this
series to the extent necessary to permit the Holder, the
Representative and the Company to comply with this Section 15.
Section 16. Surrender of
Senior Unsecured De
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