<SEC-DOCUMENT>0000950123-11-065253.txt : 20110712
<SEC-HEADER>0000950123-11-065253.hdr.sgml : 20110712
<ACCEPTANCE-DATETIME>20110712172439
ACCESSION NUMBER:		0000950123-11-065253
CONFORMED SUBMISSION TYPE:	S-3ASR
PUBLIC DOCUMENT COUNT:		11
FILED AS OF DATE:		20110712
DATE AS OF CHANGE:		20110712
EFFECTIVENESS DATE:		20110712

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN AXLE & MANUFACTURING HOLDINGS INC
		CENTRAL INDEX KEY:			0001062231
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		IRS NUMBER:				383161171
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-175508
		FILM NUMBER:		11964513

	BUSINESS ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211-1198
		BUSINESS PHONE:		3137583600

	MAIL ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211-1198

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN AXLE & MANUFACTURING INC
		CENTRAL INDEX KEY:			0001084331
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		IRS NUMBER:				383138388
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-175508-01
		FILM NUMBER:		11964514

	BUSINESS ADDRESS:	
		STREET 1:		1840 HOLBROOK AVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48212
		BUSINESS PHONE:		3139742000

	MAIL ADDRESS:	
		STREET 1:		1840 HOLBROOK AVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Oxford Forge, Inc.
		CENTRAL INDEX KEY:			0001525270
		IRS NUMBER:				830500168
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-175508-02
		FILM NUMBER:		11964515

	BUSINESS ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211
		BUSINESS PHONE:		313-758-2000

	MAIL ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MSP Industries Corp
		CENTRAL INDEX KEY:			0001525271
		IRS NUMBER:				382382767
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-175508-03
		FILM NUMBER:		11964516

	BUSINESS ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211
		BUSINESS PHONE:		313-758-2000

	MAIL ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DieTronik, Inc.
		CENTRAL INDEX KEY:			0001525272
		IRS NUMBER:				263005324
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-175508-04
		FILM NUMBER:		11964517

	BUSINESS ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211
		BUSINESS PHONE:		313-758-2000

	MAIL ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Colfor Manufacturing, Inc.
		CENTRAL INDEX KEY:			0001525273
		IRS NUMBER:				341834325
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-175508-05
		FILM NUMBER:		11964518

	BUSINESS ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211
		BUSINESS PHONE:		313-758-2000

	MAIL ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AccuGear, Inc.
		CENTRAL INDEX KEY:			0001525274
		IRS NUMBER:				263788013
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-175508-06
		FILM NUMBER:		11964519

	BUSINESS ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211
		BUSINESS PHONE:		313-758-2000

	MAIL ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AAM International Holdings, Inc.
		CENTRAL INDEX KEY:			0001525275
		IRS NUMBER:				383439761
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-175508-07
		FILM NUMBER:		11964520

	BUSINESS ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211
		BUSINESS PHONE:		313-758-2000

	MAIL ADDRESS:	
		STREET 1:		ONE DAUCH DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48211
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3ASR
<SEQUENCE>1
<FILENAME>k50523sv3asr.htm
<DESCRIPTION>S-3ASR
<TEXT>
<HTML>
<HEAD>
<TITLE>sv3asr</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
</DIV><!-- END PAGE WIDTH -->
<DIV style="width: 94%; margin-left: 3%"><!-- BEGIN PAGE WIDTH -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>As filed with the Securities and Exchange Commission on
    July&#160;12, 2011</B>
</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Registration No.&#160;</B>
</DIV>

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></DIV></CENTER>

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 12pt">Washington,&#160;D.C.
    20549</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 18pt"><FONT style="white-space: nowrap">Form&#160;S-3</FONT></FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 12pt">REGISTRATION
    STATEMENT</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 12pt">UNDER</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 12pt">THE SECURITIES ACT OF
    1933</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 22pt">American Axle&#160;&#038;
    Manufacturing, Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Exact name of registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="19%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Delaware</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>One Dauch Drive</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>38-3138388</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 7pt">(State or other jurisdiction<BR>
    of incorporation of organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>Detroit, Michigan&#160;48211<BR>
    <FONT style="white-space: nowrap">(313)&#160;758-2000</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I>(I.R.S. employer<BR>
    Identification&#160;No.)</I>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <I>(Address including zip code, and telephone number, including
    area code, of registrant&#146;s principal executive offices)</I>
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 22pt">American Axle&#160;&#038;
    Manufacturing Holdings, Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Exact name of registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="19%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Delaware</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>One Dauch Drive</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B><FONT style="white-space: nowrap">38-3161171</FONT></B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 7pt">(State or other jurisdiction<BR>
    of incorporation or organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>Detroit, Michigan&#160;48211<BR>
    <FONT style="white-space: nowrap">(313)&#160;758-2000</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I>(I.R.S. employer<BR>
    Identification&#160;No.)</I>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <I>(Address including zip code, and telephone number, including
    area code, of registrant&#146;s principal executive offices)</I>
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 22pt">AAM International Holdings,
    Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Exact name of registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="19%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Delaware</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>One Dauch Drive</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>38-3439761</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 7pt">(State or other jurisdiction<BR>
    of incorporation or organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>Detroit,&#160;Michigan&#160;48211<BR>
    (313) 758-2000</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I>(I.R.S. Employer<BR>
    Identification&#160;No.)</I>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <I>(Address, including zip code, and telephone number, including
    area code, of registrant&#146;s principal executive offices)</I>
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 22pt">AccuGear, Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Exact name of registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="20%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Delaware</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>One Dauch Drive</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>26-3788013</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 7pt">(State or other jurisdiction<BR>
    of incorporation or organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>Detroit,&#160;Michigan&#160;46818<BR>
    (313) 758-2000</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I><FONT style="font-size: 7pt">(I.R.S. Employer<BR>
    Identification&#160;No.)</FONT></I>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <I>(Address, including zip code, and telephone number, including
    area code, of registrant&#146;s principal executive offices)</I>
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 22pt">Colfor Manufacturing,
    Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Exact name of registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="20%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Delaware</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>One Dauch Drive</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>34-1834325</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 7pt">(State or other jurisdiction<BR>
    of incorporation or organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>Detroit,&#160;Michigan&#160;48211<BR>
    (313) 758-2000</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I><FONT style="font-size: 7pt">(I.R.S. Employer<BR>
    Identification&#160;No.)</FONT></I>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <I>(Address, including zip code, and telephone number, including
    area code, of registrant&#146;s principal executive offices)</I>
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 22pt">DieTronik, Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Exact name of registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="20%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Delaware</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>One Dauch Drive</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>26-3005324</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 7pt">(State or other jurisdiction<BR>
    of incorporation or organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>Detroit,&#160;Michigan&#160;48211<BR>
    (313) 758-2000</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I><FONT style="font-size: 7pt">(I.R.S. Employer<BR>
    Identification&#160;No.)</FONT></I>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <I>(Address, including zip code, and telephone number, including
    area code, of registrant&#146;s principal executive offices)</I>
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 22pt">MSP Industries
    Corporation</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Exact name of registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="20%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Michigan</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>One Dauch Drive</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>38-2382767</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 7pt">(State or other jurisdiction<BR>
    of incorporation or organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>Detroit,&#160;Michigan&#160;48211<BR>
    (313) 758-2000</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I><FONT style="font-size: 7pt">(I.R.S. Employer<BR>
    Identification&#160;No.)</FONT></I>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <I>(Address, including zip code, and telephone number, including
    area code, of registrant&#146;s principal executive offices)</I>
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 22pt">Oxford Forge, Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">Exact name of registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="20%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Delaware</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>One Dauch Drive</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>83-0500168</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 7pt">(State or other jurisdiction<BR>
    of incorporation or organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B><FONT style="white-space: nowrap">Detroit, Michigan 48211
    </font>(313) 758-2000</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I><FONT style="font-size: 7pt">(I.R.S. Employer<BR>
    Identification&#160;No.)</FONT></I>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <I>(Address, including zip code, and telephone number, including
    area code, of registrant&#146;s principal executive offices)</I>
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 94%; margin-left: 3%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Steven R. Keyes</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>American Axle&#160;&#038; Manufacturing, Inc.</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>One Dauch Drive</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Detroit,&#160;Michigan&#160;48211</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="white-space: nowrap">(313)&#160;758-2000</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Name, address, including zip
    code, and telephone number, including area code, of agent for
    service for the registrants)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Copies to:</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Lisa L. Jacobs,&#160;Esq.</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Shearman&#160;&#038; Sterling LLP</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>599 Lexington Avenue</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>New York, New York 10022</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="white-space: nowrap">(212)&#160;848-4000</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Approximate date of commencement of proposed sale to the
    public:</B>&#160;&#160;From time to time after the effective
    date of this Registration Statement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the only securities being registered on this form are being
    offered pursuant to dividend or interest reinvestment plans,
    please check the following
    box.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any of the securities being registered on this form are to be
    offered on a delayed or continuous basis pursuant to
    Rule&#160;415 under the Securities Act of 1933, other than
    securities offered only in connection with dividend or interest
    reinvestment plans, check the following
    box.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If this form is filed to register additional securities for an
    offering pursuant to Rule&#160;462(b) under the Securities Act,
    please check the following box and list the Securities Act
    registration number of the earlier effective registration
    statement for the same
    offering.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If this form is a post-effective amendment filed pursuant to
    Rule&#160;462(c) under the Securities Act, check the following
    box and list the Securities Act registration statement number of
    the earlier effective registration statement for the same
    offering.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If this form is a registration statement pursuant to General
    Instruction&#160;I.D. or a post-effective amendment thereto that
    shall become effective upon filing with the Commission pursuant
    to Rule&#160;462(e) under the Securities Act, check the
    following
    box.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If this form is a post-effective amendment to a registration
    statement filed pursuant to General Instruction&#160;I.D. filed
    to register additional securities or additional classes of
    securities pursuant to Rule&#160;413(b) under the Securities
    Act, check the following
    box.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Indicate by check mark whether the registrant is a large
    accelerated filer, an accelerated filer, a non-accelerated
    filer, or a smaller reporting company. See the definitions of
    &#147;large accelerated filer,&#148; &#147;accelerated
    filer&#148; and &#147;smaller reporting company&#148; in Rule
    <FONT style="white-space: nowrap">12b-2</FONT> of the
    Exchange Act. (Check one):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="25%"></TD>
    <TD width="25%"></TD>
    <TD width="25%"></TD>
    <TD width="25%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <FONT style="font-size: 9pt; font-family: 'Times New Roman', Times">Large
    accelerated
    filer&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-size: 9pt; font-family: 'Times New Roman', Times">
    Accelerated
    filer&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;</FONT>
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-size: 9pt; font-family: 'Times New Roman', Times">
    <FONT style="white-space: nowrap">Non-accelerated</FONT>
    filer&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>
    </FONT></TD>
    <TD nowrap align="right">    <FONT style="font-size: 9pt; font-family: 'Times New Roman', Times">
    Smaller reporting
    company&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>
    </FONT></TD>
</TR>

</TABLE>



<DIV align="center" style="margin-left: 22%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-size: 9pt">(Do not check if a smaller
    reporting company)
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="40%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="18%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterright -->
    <TD width="18%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterright -->
    <TD width="18%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Proposed Maximum<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Amount of<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Title of Each Class of<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Amount to be<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Registration<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Securities to be Registered</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Registered</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Offering Price</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Fee</B>
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top" style="border-top: 1px solid #000000">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Debt Securities, Guarantees(2), Warrants to Purchase Debt
    Securities, Preferred Stock, Common Stock, Warrants to Purchase
    Common Stock,
</DIV>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    (1)
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    (1)
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    (1)(3)
</TD>
</TR>
<TR style="font-size: 1pt">
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    (1)&#160;
</TD>
    <TD align="left">    An unspecified aggregate initial offering price or number of the
    securities of each identified class is being registered as may
    from time to time be offered at unspecified prices. Separate
    consideration may or may not be received for securities that are
    issuable on exercise, conversion or exchange of other
    securities. In accordance with Rules&#160;456(b) and 457(r)
    under the Securities Act of 1933, as amended, the registrants
    are deferring payment of all of the registration fee and will
    pay the registration fee subsequently in advance or on a
    pay-as-you-go basis.
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    (2)&#160;
</TD>
    <TD align="left">    In accordance with Rule 457(n), no separate consideration will
    be received for the guarantees. AAM International Holdings,
    Inc., AccuGear, Inc., Colfor Manufacturing Inc., DieTronik,
    Inc., MSP Industries Corporation, Oxford Forge, Inc., and
    certain future subsidiaries may, jointly or severally, fully,
    irrevocably and unconditionally guarantee on an unsecured basis
    the debt securities of American Axle Manufacturing, Inc.
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    (3)&#160;
</TD>
    <TD align="left">    Pursuant to Rule&#160;457(p), American Axle Manufacturing, Inc.
    and American Axle Manufacturing Holdings, Inc. previously paid
    registration fees for unsold securities in connection with
    Registration Statement No.
    <FONT style="white-space: nowrap">333-162550,</FONT>
    filed on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    in December 2009 and declared effective. Details about the fees
    previously paid are set out below. Registration Statement No.
    <FONT style="white-space: nowrap">333-162550</FONT>
    is deregistered hereby.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The amount previously paid relating to unsold primary securities
    registered under Registration Statement
    <FONT style="white-space: nowrap">No.&#160;333-162550</FONT>
    was $21,778.74, in connection with unsold primary securities in
    the amount of $390,300,000.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></DIV></CENTER>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 94%; margin-left: 3%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
</DIV><!-- END PAGE WIDTH -->
<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 9pt">PROSPECTUS</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <IMG src="k50523k5052301.gif" alt="(AMERICAN AXLE AND MANUFACTURING LOGO)"><B><FONT style="font-size: 9pt">
    </FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 20pt">AMERICAN AXLE&#160;&#038;
    MANUFACTURING, INC.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 17pt">AMERICAN AXLE&#160;&#038;
    MANUFACTURING HOLDINGS, INC.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">AAM International Holdings,
    Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">AccuGear, Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Colfor Manufacturing,
    Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">DieTronik, Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">MSP Industries
    Corporation</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Oxford Forge, Inc.</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Debt Securities</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Guarantees</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Warrants to Purchase Debt
    Securities</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Warrants to Purchase Common
    Stock</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Common Stock</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Preferred Stock</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will provide the specific terms of these securities in
    supplements or term sheets to this prospectus and whether an
    offer will be made by us, a selling security holder or both. You
    should read this prospectus, the prospectus supplements and term
    sheets carefully before you invest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will not use this prospectus to confirm sales of any
    securities unless it is attached to a prospectus supplement or a
    term sheet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    American Axle &#038; Manufacturing Holdings, Inc.&#146;s common
    stock is listed on the New York Stock Exchange under the symbol
    &#147;AXL.&#148;
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Neither the Securities and Exchange Commission nor any state
    securities commission has approved or disapproved of these
    securities or passed upon the adequacy or accuracy of this
    prospectus. Any representation to the contrary is a criminal
    offense.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    THE DATE OF THIS PROSPECTUS IS JULY 12, 2011.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="K50523tocpage"></A>
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="97%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Page</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523117'>RISK FACTORS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523101'>WHERE YOU CAN FIND MORE INFORMATION</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523102'>AMERICAN AXLE&#160;&#038; MANUFACTURING</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523103'>USE OF PROCEEDS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523104'>PROSPECTUS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523105'>PROSPECTUS SUPPLEMENT OR TERM SHEET</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523106'>FORWARD-LOOKING STATEMENTS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523107'>DESCRIPTION OF DEBT SECURITIES</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523113'>DESCRIPTION OF GUARANTEES</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523108'>DESCRIPTION OF DEBT WARRANTS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523109'>DESCRIPTION OF WARRANTS TO PURCHASE COMMON
    STOCK</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523110'>DESCRIPTION OF COMMON STOCK</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523111'>DESCRIPTION OF PREFERRED STOCK</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523112'>SPECIAL PROVISIONS RELATING TO FOREIGN CURRENCY
    DEBT SECURITIES</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523114'>PLAN OF DISTRIBUTION</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    46
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523115'>LEGAL MATTERS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    47
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#K50523116'>EXPERTS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    47
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="k50523exv4w3.htm">EX-4.3</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="k50523exv5w1.htm">EX-5.1</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="k50523exv5w2.htm">EX-5.2</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="k50523exv12w1.htm">EX-12.1</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="k50523exv23w1.htm">EX-23.1</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="k50523exv25w1.htm">EX-25.1</A></FONT></TD></TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>You should rely only on the information contained or
    incorporated by reference in this prospectus and in any
    accompanying prospectus supplement. No one has been authorized
    to provide you with different information.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>The securities are not being offered in any jurisdiction
    where the offer is not permitted.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>You should not assume that the information contained in or
    incorporated by reference in this prospectus or any prospectus
    supplement is accurate as of any date other than the date on the
    front of the documents.</B>
</DIV>
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    <BR>
    i
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<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='K50523117'>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">RISK
    FACTORS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Your investment in the securities involves certain risks. In
    consultation with your own financial and legal advisers, you
    should carefully consider whether an investment in the
    securities is suitable for you. The securities are not an
    appropriate investment for you if you do not understand the
    terms of the securities or financial matters generally. Risks
    relating to the securities will be set forth in the relevant
    prospectus supplement for the offering of such securities. In
    addition, certain factors that may adversely affect the business
    of AAM Inc. (as defined below) or Holdings (as defined below)
    are discussed in our periodic reports referred to in &#147;Where
    You Can Find More Information,&#148; below. For example,
    Holdings&#146; Annual Report on Form&#160;10-K for the fiscal
    year ended December&#160;31, 2010 contains a discussion of
    significant risks that could be relevant to an investment in the
    securities. You should not purchase the securities described in
    this prospectus unless you understand and know you can bear all
    of the investment risks involved.
</DIV>

<DIV style="margin-top: 5pt; font-size: 1pt">&nbsp;</DIV>

<A name='K50523101'>
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHERE YOU
    CAN FIND MORE INFORMATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are required to comply with the reporting requirements of the
    Securities Exchange Act of 1934, as amended (the &#147;Exchange
    Act&#148;), and, in accordance with those requirements, we file
    combined reports, proxy statements and other information with
    the Securities and Exchange Commission (the &#147;SEC&#148;).
    Unless the context otherwise requires, references in this
    prospectus to the &#147;company,&#148; &#147;we,&#148;
    &#147;our,&#148; and &#147;us&#148; shall mean collectively
    (i)&#160;American Axle&#160;&#038; Manufacturing, Inc., or AAM
    Inc., a Delaware corporation, and its direct and indirect
    subsidiaries and (ii)&#160;American Axle&#160;&#038;
    Manufacturing Holdings, Inc., or Holdings, a Delaware
    corporation and the direct parent corporation of AAM Inc.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You can call the SEC&#146;s toll-free number at
    <FONT style="white-space: nowrap">1-800-SEC-0330</FONT>
    for further information. The SEC maintains a website at
    www.sec.gov that contains reports, proxy and information
    statements and other information regarding companies like ours
    that file with the SEC electronically. The documents can be
    found by searching the EDGAR archives at the SEC&#146;s website
    or can be inspected and copied at the Public Reference Section
    of the SEC located at 100&#160;F&#160;Street, NE,
    Washington,&#160;D.C. 20549. Our SEC filings and other
    information about us may also be obtained from our website at
    www.aam.com, although information on our website does not
    constitute a part of this prospectus. Material that we have
    filed may also be inspected at the library of the New York Stock
    Exchange, 20&#160;Broad Street, New York, New York 10005.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The SEC allows us to &#147;incorporate by reference&#148; the
    information we file with them, which means that we can disclose
    important information to you by referring you to those documents
    that are considered part of this prospectus. Later information
    that we file will automatically update and supersede this
    information. We incorporate by reference the documents listed
    below and any future filings we make with the SEC under
    Section&#160;13(a), 13(c), 14 or 15(d) of the Exchange Act
    (i)&#160;after the date of the filing of this registration
    statement and prior to effectiveness and (ii)&#160;until the
    offering of the particular securities covered by a prospectus
    supplement or term sheet has been completed. This prospectus is
    part of a registration statement filed with the SEC.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are incorporating by reference into this prospectus the
    following documents filed with the SEC (excluding any portions
    of such documents that have been &#147;furnished&#148; but not
    &#147;filed&#148; for purposes of the Exchange Act):
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Holdings&#146; annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the fiscal year ended December&#160;31, 2010 filed with the
    SEC on February&#160;9, 2010 (including information specifically
    incorporated by reference into the annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    from Holdings&#146; proxy statement on Schedule&#160;14A filed
    with the SEC on March&#160;21, 2011).
</TD>
</TR>


<TR style="line-height: 2pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Holdings&#146; quarterly report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarter ended March&#160;31, 2011 filed with the SEC on
    April&#160;29, 2011.
</TD>
</TR>


<TR style="line-height: 2pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Holdings&#146; current reports on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC on January&#160;7, 2011, February&#160;8,
    2011 (excluding Item&#160;2.02), May&#160;4, 2011 and
    July&#160;1, 2011.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The documents incorporated by reference in this prospectus are
    available from us upon request. We will provide a copy of any
    and all of the information that is incorporated by reference in
    this prospectus to any person, without charge, upon written or
    oral request. Requests for such copies should be directed to the
    following:
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    American Axle&#160;&#038; Manufacturing Holdings, Inc.
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Attention: Investor Relations
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    One Dauch Drive
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Detroit, Michigan
    <FONT style="white-space: nowrap">48211-1198</FONT>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Telephone Number:
    <FONT style="white-space: nowrap">(313)&#160;758-4814</FONT>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as provided above, no other information, including, but
    not limited to, information on our websites is incorporated by
    reference in this prospectus.
</DIV>
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    <BR>
    1
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<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='K50523102'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">AMERICAN
    AXLE&#160;&#038; MANUFACTURING</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are a Tier&#160;I supplier to the automotive industry. We
    manufacture, engineer, design and validate driveline and
    drivetrain systems and related components and chassis modules
    for light trucks, sport utility vehicles (&#147;SUVs&#148;),
    passenger cars, crossover vehicles and commercial vehicles.
    Driveline and drivetrain systems include components that
    transfer power from the transmission and deliver it to the drive
    wheels. Our driveline, drivetrain and related products include
    axles, chassis modules, driveshafts, power transfer units,
    transfer cases, chassis and steering components, driving heads,
    crankshafts, transmission parts and metal-formed products.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are the principal supplier of driveline components to General
    Motors Company (&#147;GM&#148;) for its rear-wheel drive light
    trucks and SUVs manufactured in North America, supplying
    substantially all of GM&#146;s rear axle and front four-wheel
    drive and all-wheel drive axle requirements for these vehicle
    platforms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are the sole-source supplier to GM for certain axles and
    other driveline products for the life of each GM vehicle program
    covered by a Lifetime Program Contract (&#147;LPC&#148;).
    Substantially all of our sales to GM are made pursuant to the
    LPCs. The LPCs have terms equal to the lives of the relevant
    vehicle programs or their respective derivatives, which
    typically run 6 to 10&#160;years, and require us to remain
    competitive with respect to technology, design and quality.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are also the principal supplier of driveline system products
    for the Chrysler Group LLC&#146;s (&#147;Chrysler&#148;)
    heavy-duty Dodge Ram full-size pickup trucks and its
    derivatives. In addition to GM and Chrysler, we supply driveline
    systems and other related components to Volkswagen AG, Scania
    AB, PACCAR Inc., Harley-Davidson Inc., Deere&#160;&#038;
    Company, Tata Motors, Mack Trucks Inc., Nissan Motor Co., Ltd.,
    Ford Motor Company and other original equipment manufacturers
    and Tier&#160;I supplier companies.
</DIV>

<A name='K50523103'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">USE OF
    PROCEEDS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as may be described otherwise in a prospectus supplement
    or term sheet, we will add the net proceeds from the sale of the
    securities under this prospectus to our general funds and will
    use them for working capital and other general corporate
    purposes, which may include, among other things, reducing or
    refinancing indebtedness or funding acquisitions.
</DIV>

<A name='K50523104'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PROSPECTUS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This prospectus is part of a registration statement that we
    filed with the SEC utilizing a &#147;shelf&#148; registration
    process. Under this shelf process, we may sell any combination
    of the following securities in one or more offerings:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    debt securities (&#147;debt securities&#148;), which may be
    either senior (the &#147;senior securities&#148;) or
    subordinated (the &#147;subordinated securities&#148;),
    unsecured (&#147;unsecured debt securities&#148;) or secured
    (&#147;secured debt securities&#148;) guaranteed by Holdings
    <FONT style="white-space: nowrap">and/or</FONT>
    certain subsidiaries of AAM Inc. which may include AAM
    International Holdings, Inc., AccuGear, Inc., Colfor
    Manufacturing, Inc., DieTronik, Inc., MSP Industries Corporation
    and Oxford Forge, Inc. (collectively, the &#147;Subsidiary
    Guarantors,&#148; and, together with Holdings, the
    &#147;Guarantors&#148;);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    warrants to purchase debt securities (&#147;debt warrants&#148;);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares of the common stock of Holdings (&#147;common
    stock&#148;);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares of Holdings&#146; preferred stock (&#147;preferred
    stock&#148;);&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    warrants to purchase common stock of Holdings (&#147;common
    stock warrants,&#148; and the shares underlying such common
    stock warrants, the &#147;warrant shares&#148;).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The terms of the securities will be determined at the time of
    offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will refer to the debt securities, debt warrants, common
    stock warrants, warrant shares, the guarantees of the debt
    securities, common stock and preferred stock, or any combination
    of those securities, proposed to be sold under this prospectus
    and the applicable prospectus supplement or term sheet as the
    &#147;offered securities.&#148; The
</DIV>
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    <BR>
    2
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    offered securities, together with any debt securities, common
    stock and preferred stock issuable upon exercise of debt
    warrants, common stock warrants, warrant shares or conversion or
    exchange of other offered securities, as applicable, will be
    referred to as the &#147;securities.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You should rely only on the information contained or
    incorporated by reference in this prospectus or prospectus
    supplement. We have not authorized any other person to provide
    you with different information. If anyone provides you with
    different or inconsistent information, you should not rely on
    it. We are not making an offer to sell these securities in any
    jurisdiction where the offer or sale is not permitted. You
    should assume that the information appearing in this prospectus,
    prospectus supplement, or any documents incorporated by
    reference is accurate only as of the date on the front cover of
    the applicable document. Our business, financial condition,
    results of operations and prospects may have changed since then.
</DIV>

<A name='K50523105'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PROSPECTUS
    SUPPLEMENT OR TERM SHEET</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This prospectus provides you with a general description of the
    debt securities, warrants to purchase debt securities, common
    stock warrants, warrant shares, common stock and preferred stock
    we may offer. Each time we sell securities, we will provide a
    prospectus supplement or term sheet that will contain specific
    information about the terms of that offering and whether
    securities are being offered by us, a selling security holder or
    both. The prospectus supplement or term sheet may also add to,
    update or change information contained in this prospectus, and
    accordingly, to the extent inconsistent, information in this
    prospectus is superseded by the information in the prospectus
    supplement or term sheet. You should read both this prospectus
    and any prospectus supplement or term sheet together with the
    additional information described under the heading &#147;Where
    You Can Find More Information.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The prospectus supplement or term sheet to be attached to the
    front of this prospectus will describe: the terms of the
    securities offered, any initial public offering price, the price
    paid to us for the securities, the net proceeds to us, the
    manner of distribution and any underwriting compensation and the
    other specific material terms related to the offering of these
    securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For more detail on the terms of the securities, you should read
    the exhibits filed with or incorporated by reference in our
    Registration Statement.
</DIV>

<A name='K50523106'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">FORWARD-LOOKING
    STATEMENTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Certain statements contained in this prospectus, or any
    accompanying prospectus supplement and the documents
    incorporated herein or therein by reference are forward-looking
    in nature and relate to trends and events that may affect our
    future financial position and operating results.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Such statements are &#147;forward-looking&#148; statements
    within the meaning of the Private Securities Litigation Reform
    Act of 1995 and relate to trends and events that may affect our
    future financial position and operating results. The terms such
    as &#147;will,&#148; &#147;may,&#148; &#147;could,&#148;
    &#147;would,&#148; &#147;plan,&#148; &#147;believe,&#148;
    &#147;expect,&#148; &#147;anticipate,&#148; &#147;intend,&#148;
    &#147;project,&#148; and similar words of expressions, as well
    as statements in future tense, are intended to identify
    forward-looking statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Forward-looking statements should not be read as a guarantee of
    future performance or results, and will not necessarily be
    accurate indications of the times at, or by, which such
    performance or results will be achieved. Forward-looking
    statements are based on information available at the time those
    statements are made
    <FONT style="white-space: nowrap">and/or</FONT>
    management&#146;s good faith belief as of that time with respect
    to future events and are subject to risks and may differ
    materially from those expressed in or suggested by the
    forward-looking statements. Important factors that could cause
    such differences include, but are not limited to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    global economic conditions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to comply with the definitive terms and conditions
    of various commercial and financing arrangements with GM;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduced purchases of our products by GM, Chrysler or other
    customers;
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduced demand for our customers&#146; products (particularly
    light trucks and SUVs produced by GM and Chrysler);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    availability of financing for working capital, capital
    expenditures, research and development (&#147;R&#038;D&#148;) or
    other general corporate purposes, including our ability to
    comply with financial covenants;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our customers&#146; and suppliers&#146; availability of
    financing for working capital, capital expenditures, R&#038;D or
    other general corporate purposes;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to achieve cost reductions through ongoing
    restructuring actions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to achieve the level of cost reductions required to
    sustain global cost competitiveness;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability, our suppliers&#146; ability and our customers&#146;
    ability to avoid supply shortages as a result of recent events
    in Japan or otherwise;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to maintain satisfactory labor relations and avoid
    future work stoppages;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our suppliers&#146;, our customers&#146; and their
    suppliers&#146; ability to maintain satisfactory labor relations
    and avoid work stoppages;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    additional restructuring actions that may occur;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to continue to implement improvements in our
    U.S.&#160;labor cost structure;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    supply shortages or price increases in raw materials, utilities
    or other operating supplies;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to consummate and integrate acquisitions and joint
    ventures;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability or our customers&#146; and suppliers&#146; ability
    to successfully launch new product programs on a timely basis;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to realize the expected revenues from our new and
    incremental business backlog;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to attract new customers and programs for new
    products;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to develop and produce new products that reflect
    market demand;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <FONT style="white-space: nowrap">lower-than-anticipated</FONT>
    market acceptance of new or existing products;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to respond to changes in technology, increased
    competition or pricing pressures;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    price volatility in, or reduced availability of, fuel;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    adverse changes in laws, government regulations or market
    conditions affecting our products or our customers&#146;
    products (such as the Corporate Average Fuel Economy
    regulations);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    risks inherent in our international operations (including
    adverse changes in the political stability, taxes and other law
    changes, potential disruption of production and supply, and
    currency rate fluctuations);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    liabilities arising from warranty claims, product recall,
    product liability and legal proceedings to which we are or may
    become a party;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in liabilities arising from pension and other
    postretirement benefit obligations;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    risks of noncompliance with environmental regulations or risks
    of environmental issues that could result in unforeseen costs at
    our facilities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to attract and retain key associates;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    other unanticipated events and conditions that may hinder our
    ability to compete.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    It is not possible to foresee or identify all such factors and
    we make no commitment to update any forward-looking statement or
    to disclose any facts, events or circumstances after the date
    hereof that may affect the accuracy of any forward-looking
    statement.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='K50523107'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF DEBT SECURITIES</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may issue debt securities in one or more distinct series.
    This section summarizes the material terms of the debt
    securities that are common to all series. Most of the financial
    terms and other specific material terms of any series of debt
    securities that we offer will be described in a prospectus
    supplement or term sheet to be attached to the front of this
    prospectus. Furthermore, since the terms of specific debt
    securities may differ from the general information we have
    provided below, you should rely on information in the prospectus
    supplement or term sheet that contradicts different information
    below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As required by federal law for all bonds and debt securities of
    companies that are publicly offered, the debt securities are
    governed by a document called an &#147;indenture.&#148; An
    indenture is a contract between us and a financial institution
    acting as trustee on your behalf. Unless otherwise indicated in
    a prospectus supplement, the trustee will be U.S.&#160;Bank
    National Association. The trustee has two main roles. First, the
    trustee can enforce your rights against us if we default. There
    are some limitations on the extent to which the trustee acts on
    your behalf, described in the second paragraph under
    &#147;Events of Default.&#148; Second, the trustee performs
    certain administrative duties for us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The term &#147;trustee&#148; refers to the senior trustee or the
    subordinated trustee, as appropriate. We will refer to the
    indenture that governs the debt securities as the
    &#147;Indenture.&#148; The Indenture is subject to and governed
    by the Trust Indenture Act of 1939, as amended (the
    &#147;TIA&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following summary does not purport to be complete, and is
    subject to, and is qualified in its entirety by reference to,
    all of the provisions of the debt securities and the Indenture.
    We urge you to read the Indenture and the form of the debt
    securities, which you may obtain from us upon request. As used
    in this description, all references to &#147;AAM Inc.,&#148;
    &#147;our company,&#148; the &#147;issuer,&#148; &#147;we,&#148;
    &#147;us&#148; or &#147;our&#148; mean American Axle&#160;&#038;
    Manufacturing, Inc., excluding, unless otherwise expressly
    stated or the context otherwise requires, its subsidiaries,
    including the Subsidiary Guarantors, and all references to
    &#147;Holdings&#148; mean American Axle&#160;&#038;
    Manufacturing Holdings, Inc., our parent corporation, excluding,
    unless otherwise expressly stated or the context otherwise
    requires, its subsidiaries. Holdings has no material operations
    or assets other than its ownership of 100% of the issued and
    outstanding common stock of American Axle&#160;&#038;
    Manufacturing, Inc., the issuer. The Subsidiary Guarantors are
    wholly-owned subsidiaries of American Axle&#160;&#038;
    Manufacturing, Inc.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">General</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The debt securities will be AAM Inc.&#146;s obligations which
    may be secured or unsecured. The senior unsecured securities
    will rank equally with all of our other unsecured and
    unsubordinated indebtedness and will be guaranteed by Holdings
    and/or any Subsidiary Guarantors, if applicable. The Holdings
    guarantee and any Subsidiary guarantees will rank equally with
    all of their other unsecured and unsubordinated indebtedness.
    Terms of secured debt securities and the related Holdings
    guarantee and any Subsidiary guarantees will be more fully
    described in a prospectus supplement. The subordinated
    securities will be subordinated in right of payment to the prior
    payment in full of AAM Inc.&#146;s senior indebtedness as more
    fully described in a prospectus supplement or term sheet. The
    subordinated debt securities will be guaranteed on a
    subordinated basis by Holdings, and, if applicable, the
    Subsidiary Guarantors, as more fully described in a prospectus
    supplement or term sheet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Indenture provides that any debt securities proposed to be
    sold under this prospectus and the attached prospectus
    supplement or term sheet, including the guarantee by Holdings
    and any Subsidiary guarantees (&#147;offered debt
    securities&#148;) and any debt securities issuable upon the
    exercise of debt warrants or upon conversion or exchange of
    other offered securities (&#147;underlying debt
    securities&#148;), as well as other unsecured debt securities,
    may be issued under the Indenture in one or more series.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You should read the prospectus supplement or term sheet for the
    material terms of the offered debt securities and any underlying
    debt securities, including the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The title of the debt securities and whether the debt securities
    will be senior securities or subordinated securities.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The total principal amount of the debt securities and any limit
    on the total principal amount of debt securities of the series.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If not the principal amount of the debt securities, the portion
    of the principal amount payable upon acceleration of the
    maturity of the debt securities or how this portion will be
    determined.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The date or dates, or how the date or dates will be determined
    or extended, when the principal of the debt securities will be
    payable.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The interest rate or rates, which may be fixed or variable, that
    the debt securities will bear, if any, or how the rate or rates
    will be determined, the date or dates from which any interest
    will accrue or how the date or dates will be determined, the
    interest payment dates, any record dates for these payments and
    the basis upon which interest will be calculated if other than
    that of a
    <FONT style="white-space: nowrap">360-day</FONT> year
    of twelve
    <FONT style="white-space: nowrap">30-day</FONT>
    months.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Any optional redemption provisions.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether debt securities are secured and the terms of such
    security interests.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether debt securities are not to be guaranteed by Holdings and
    any modifications to such guarantee.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether debt securities are guaranteed by any Subsidiary
    Guarantors and any deletions from, modifications to, or
    additions to such guarantees, Events of Default or covenants
    with respect to such guarantees.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Any sinking fund or other provisions that would obligate us to
    repurchase or otherwise redeem the debt securities.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If other than registered debt securities, the form in which we
    will issue the debt securities; whether we will have the option
    of issuing debt securities in &#147;certificated&#148; form;
    whether we will have the option of issuing certificated debt
    securities in bearer form if we issue the securities outside the
    United States to
    <FONT style="white-space: nowrap">non-U.S.&#160;persons;</FONT>
    any restrictions on the offer, sale or delivery of bearer
    securities and the terms, if any, 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).
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If other than U.S.&#160;dollars, the currency or currencies in
    which the debt securities are denominated
    <FONT style="white-space: nowrap">and/or</FONT>
    payable.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether the amount of payments of principal, premium or
    interest, if any, on the debt securities will be determined with
    reference to an index, formula or other method (which could be
    based on one or more currencies, commodities, equity indices or
    other indices) and how these amounts will be determined.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The place or places, if any, other than or in addition to The
    City of New York, of payment, transfer, conversion
    <FONT style="white-space: nowrap">and/or</FONT>
    exchange of the debt securities.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If other than denominations of $1,000 or any integral multiple
    in the case of registered securities issued in certificated form
    and $5,000 in the case of bearer securities, the denominations
    in which the offered debt securities will be issued.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The applicability of the provisions of Article&#160;Fourteen of
    the Indenture described under &#147;defeasance&#148; and any
    provisions in modification of, in addition to or in lieu of any
    of these provisions.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether and under what circumstances we will pay additional
    amounts, as contemplated by Section&#160;1011 of the Indenture,
    in respect of any tax, assessment or governmental charge and, if
    so, whether we will have the option to redeem the debt
    securities rather than pay the additional amounts (and the terms
    of this option).
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether the securities are subordinated and the terms of such
    subordination.
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Any provisions granting special rights to the holders of the
    debt securities upon the occurrence of specified events.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Any changes or additions to the Events of Default or covenants
    contained in the Indenture.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether the debt securities will be convertible into or
    exchangeable for any other securities and the applicable terms
    and conditions.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Any other material terms of the debt securities and guarantees.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For purposes of this prospectus, any reference to the payment of
    principal or premium or interest, if any, on the debt securities
    will include additional amounts if required by the terms of the
    debt securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Indenture does not limit the amount of debt securities that
    may be issued thereunder from time to time. Debt securities
    issued under the Indenture, when a single trustee is acting for
    all debt securities issued under the Indenture, are called the
    &#147;indenture securities.&#148; The Indenture also provides
    that there may be more than one trustee thereunder, each with
    respect to one or more different series of indenture securities.
    See &#147;Resignation of Trustee&#148; below. At a time when two
    or more trustees are acting under the Indenture, each with
    respect to only certain series, the term &#147;indenture
    securities&#148; means the one or more series of debt securities
    with respect to which each respective trustee is acting. In the
    event that there is more than one trustee under the Indenture,
    the powers and trust obligations of each trustee described in
    this prospectus will extend only to the one or more series of
    indenture securities for which it is trustee. If two or more
    trustees are acting under the Indenture, then the indenture
    securities for which each trustee is acting would be treated as
    if issued under separate indentures.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Indenture does not contain any provisions that give you
    protection in the event we issue a large amount of debt or we
    are acquired by another entity.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We refer you to the prospectus supplement or term sheet for
    information with respect to any deletions from, modifications of
    or additions to the Events of Default or our covenants that are
    described below, including any addition of a covenant or other
    provision providing event risk or similar protection.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have the ability to issue indenture securities with terms
    different from those of indenture securities previously issued
    and, without the consent of the holders thereof, to reopen a
    previous issue of a series of indenture securities and issue
    additional indenture securities of that series unless the
    reopening was restricted when that series was created.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless otherwise specified in the applicable prospectus
    supplement or term sheet, the debt securities will be
    denominated in U.S.&#160;dollars and all payments on the debt
    securities will be made in U.S.&#160;dollars.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Payment of the purchase price of the debt securities must be
    made in immediately available funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As used in this prospectus, &#147;Business Day&#148; means any
    day, other than a Saturday or Sunday, that is neither a legal
    holiday nor a day on which commercial banks are authorized or
    required by law, regulation or executive order to close in The
    City of New York; <I>provided</I>, <I>however</I>, that, with
    respect to foreign currency debt securities, the 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,
    the day is also a day on which the Trans-European Automated Real
    Time Gross Settlement Express Transfer (&#147;TARGET&#148;)
    System is operating, which we refer to as a &#147;TARGET
    Business Day&#148;); and <I>provided further </I>that, with
    respect to debt securities as to which LIBOR is an applicable
    interest rate basis, the day is also a London Business Day.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;London Business Day&#148; means a day on which commercial
    banks are open for business (including dealings in the
    designated LIBOR Currency) in London.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Principal Financial Center&#148;</I> means (i)&#160;the
    capital city of the country issuing the specified currency or
    (ii)&#160;the capital city of the country to which the
    designated LIBOR Currency relates, as applicable, except that
    the term &#147;Principal Financial Center&#148; means the
    following cities in the case of the following currencies:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Currency</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Principal Financial Center</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="center" valign="top">
    U.S. dollars<BR>
    Australian dollars<BR>
    Canadian dollars<BR>
    New Zealand dollars<BR>
    South African rand<BR>
    Swiss francs
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    The City of New York<BR>
    Sydney<BR>
    Toronto<BR>
    Auckland<BR>
    Johannesburg<BR>
    Zurich
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    and in the event the LIBOR Currency is the euro, the
    &#147;Principal Financial Center&#148; is London.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The authorized denominations of debt securities denominated in
    U.S.&#160;dollars will be integral multiples of $1,000. The
    authorized denominations of foreign currency debt securities
    will be set forth in the applicable prospectus supplement or
    term sheet.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Optional
    Redemption, Repayment and Repurchase</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If specified in a prospectus supplement or term sheet, we may
    redeem the debt securities at our option, in whole at any time
    or in part from time to time, at a redemption price equal to the
    greater of (1)&#160;100% of the principal amount of the debt
    securities to be redeemed and (2)&#160;as determined by the
    Quotation Agent, the sum of the present values of the remaining
    scheduled payments of principal and interest on the debt
    securities to be redeemed (not including any portion of those
    payments of interest accrued to the date of redemption) from the
    redemption date to the maturity date of the debt securities
    being redeemed, in each case discounted to the date of
    redemption on a semi-annual basis (assuming a
    <FONT style="white-space: nowrap">360-day</FONT> year
    consisting of twelve
    <FONT style="white-space: nowrap">30-day</FONT>
    months) at the Adjusted Treasury Rate plus the rate specified in
    a prospectus supplement or term sheet, plus, in each case,
    accrued and unpaid interest on the debt securities to the date
    of redemption.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Adjusted Treasury Rate&#148; </I>means, with respect to
    any date of redemption, the rate per annum equal to the
    semi-annual equivalent yield to maturity of the Comparable
    Treasury Issue, assuming a price for the Comparable Treasury
    Issue (expressed as a percentage of its principal amount) equal
    to the Comparable Treasury Price for that date of redemption.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Comparable Treasury Issue&#148; </I>means, with respect
    to a redemption date, (1)&#160;the average of five Reference
    Treasury Dealer Quotations for such redemption date, after
    excluding the highest and lowest Reference Treasury Dealer
    Quotations, or (2)&#160;if the Quotation Agent obtains fewer
    than five such Reference Treasury Dealer Quotations, the average
    of all such quotations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Comparable Treasury Price&#148; </I>means, with respect
    to any date of redemption, (1)&#160;the average of the Reference
    Treasury Dealer Quotations for the date of redemption, after
    excluding the highest and lowest Reference Treasury Dealer
    Quotations or (2)&#160;if the Quotation Agent obtains fewer than
    four Reference Treasury Dealer Quotations, the average of all
    such Reference Treasury Dealer Quotations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Quotation Agent&#148; </I>means the underwriter, or
    another Reference Treasury Dealer appointed by us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Reference Treasury Dealer&#148; </I>will be specified
    in the prospectus supplement or term sheet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Reference Treasury Dealer Quotations&#148; </I>means,
    with respect to each reference treasury dealer and any
    redemption date, the average, as determined by the Quotation
    Agent, of the bid and ask prices for the Comparable Treasury
    Issue (expressed in each case as a percentage of its principal
    amount) quoted in writing to the Quotation Agent at
    5:00&#160;p.m., New York City time, on the third Business Day
    preceding such redemption date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will mail notice of any redemption at least 30&#160;days, but
    not more than 60&#160;days, before the date of redemption to
    each holder of the debt securities to be redeemed. If less than
    all of the debt securities are to be redeemed at any time, the
    trustee will select debt securities to be redeemed on a pro rata
    basis or by any other method the trustee deems fair and
    appropriate. Unless we default in payment of the redemption
    price, on and after the date of redemption, interest will cease
    to accrue on the debt securities or portions thereof called for
    redemption.
</DIV>
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    <BR>
    8
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Regardless of anything in this prospectus to the contrary, if a
    debt security is an OID Note (as defined below) (other than an
    Indexed Note), the amount payable in the event of redemption or
    repayment prior to its stated maturity will be the amortized
    face amount on the redemption or repayment date, as the case may
    be. The amortized face amount of an OID Note will be equal to
    (i)&#160;the issue price specified in the applicable prospectus
    supplement or term sheet plus (ii)&#160;that portion of the
    difference between the issue price and the principal amount of
    the OID Note that has accrued at the yield to maturity described
    in the prospectus supplement or term sheet (computed in
    accordance with generally accepted U.S.&#160;bond yield
    computation principles) by the redemption or repayment date.
    However, in no case will the amortized face amount of an OID
    Note exceed its principal amount.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may at any time purchase debt securities at any price in the
    open market or otherwise. We may hold, resell or surrender for
    cancellation any debt securities that we purchase.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Conversion
    and Exchange</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any debt securities are convertible into or exchangeable for
    other securities, the prospectus supplement or term sheet will
    explain the terms and conditions of the conversion or exchange,
    including the conversion price or exchange ratio (or the
    calculation method), the conversion or exchange period (or how
    the period will be determined), if conversion or exchange will
    be mandatory or at the option of the holder or us, provisions
    for adjusting the conversion price or the exchange ratio and
    provisions affecting conversion or exchange in the event of the
    redemption of the underlying debt securities. These terms may
    also include provisions under which the number or amount of
    other securities to be received by the holders of the debt
    securities upon conversion or exchange would be calculated
    according to the market price of the other securities as of a
    time stated in the prospectus supplement or term sheet.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Issuance
    of Securities in Registered Form</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may issue the debt securities in registered form, in which
    case we will issue them in book-entry form only. Debt securities
    issued in book-entry form will be represented by global
    securities. We also will have the option of issuing debt
    securities in non-registered form as bearer securities if we
    issue the securities outside the United States to
    <FONT style="white-space: nowrap">non-U.S.&#160;persons.</FONT>
    In that case, the prospectus supplement or term sheet will set
    forth the mechanics for holding the bearer securities, including
    the procedures for receiving payments, for exchanging the bearer
    securities for registered securities of the same series, and for
    receiving notices. The prospectus supplement or term sheet will
    also describe the requirements with respect to our maintenance
    of offices or agencies outside the United States and the
    applicable U.S.&#160;federal tax law requirements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Book-Entry Holders.</I>&#160;&#160;We will issue registered
    debt securities in book-entry form only, unless we specify
    otherwise in the applicable prospectus supplement or term sheet.
    This means debt securities will be represented by one or more
    global securities registered in the name of a depositary that
    will hold them on behalf of financial institutions that
    participate in the depositary&#146;s book-entry system. These
    participating institutions, in turn, hold beneficial interests
    in the debt securities held by the depositary or its nominee.
    These institutions may hold these interests on behalf of
    themselves or customers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the Indenture, only the person in whose name a debt
    security is registered is recognized as the holder of that debt
    security. Consequently, for debt securities issued in book-entry
    form, we will recognize only the depositary as the holder of the
    debt securities and we will make all payments on the debt
    securities to the depositary. The depositary will then pass
    along the payments it receives to its participants, which, in
    turn, will pass the payments along to their customers who are
    the beneficial owners. The depositary and its participants do so
    under agreements they have made with one another or with their
    customers; they are not obligated to do so under the terms of
    the debt securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As a result, investors will not own debt securities directly.
    Instead, they will own beneficial interests in a global
    security, through a bank, broker or other financial institution
    that participates in the depositary&#146;s book-entry system or
    holds an interest through a participant. As long as the debt
    securities are represented by one or more global securities,
    investors will be indirect holders, and not holders of the debt
    securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Street Name Holders.&#160;&#160;</I>In the future, we may
    issue debt securities in certificated form or terminate a global
    security. In these cases, investors may choose to hold their
    debt securities in their own names or in &#147;street
    name.&#148; Debt securities held in street name are registered
    in the name of a bank, broker or other financial institution
    chosen
</DIV>
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    <BR>
    9
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    by the investor, and the investor would hold a beneficial
    interest in those debt securities through the account he or she
    maintains at that institution.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For debt securities held in street name, we will recognize only
    the intermediary banks, brokers and other financial institutions
    in whose names the debt securities are registered as the holders
    of those debt securities and we will make all payments on those
    debt securities to them. These institutions will pass along the
    payments they receive to their customers who are the beneficial
    owners, but only because they agree to do so in their customer
    agreements or because they are legally required to do so.
    Investors who hold debt securities in street name will be
    indirect holders, and not holders, of the debt securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Legal Holders.</I>&#160;&#160;Our obligations, as well as the
    obligations of the applicable trustee and those of any third
    parties employed by us or the applicable trustee, run only to
    the legal holders of the debt securities. We do not have
    obligations to investors who hold beneficial interests in global
    securities, in street name or by any other indirect means. This
    will be the case whether an investor chooses to be an indirect
    holder of a debt security or has no choice because we are
    issuing the debt securities only in book-entry form.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For example, once we make a payment or give a notice to the
    holder, we have no further responsibility for the payment or
    notice even if that holder is required, under agreements with
    depositary participants or customers or by law, to pass it along
    to the indirect holders but does not do so. Similarly, if we
    want to obtain the approval of the holders for any purpose (for
    example, to amend the Indenture or to relieve us of the
    consequences of a default or of our obligation to comply with a
    particular provision of the Indenture), we would seek the
    approval only from the holders, and not the indirect holders, of
    the debt securities. Whether and how the holders contact the
    indirect holders is up to the holders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    When we refer to you, we mean those who invest in the debt
    securities being offered by this prospectus, the prospectus
    supplement or term sheet whether they are the holders or only
    indirect holders of those debt securities. When we refer to your
    debt securities, we mean the debt securities in which you hold a
    direct or indirect interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Special Considerations for Indirect
    Holders.</I>&#160;&#160;If you hold debt securities through a
    bank, broker or other financial institution, either in
    book-entry form or in street name, we urge you to check with
    that institution to find out:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    how it handles securities payments and notices,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    whether it imposes fees or charges,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    how it would handle a request for the holders&#146; consent, if
    ever required,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    whether and how you can instruct it to send you debt securities
    registered in your own name so you can be a holder, if that is
    permitted in the future for a particular series of debt
    securities,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    how it would exercise rights under the debt securities if there
    were a default or other event triggering the need for holders to
    act to protect their interests,&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if the debt securities are in book-entry form, how the
    depositary&#146;s rules and procedures will affect these matters.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Interest
    and Interest Rates</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">General</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each debt security will begin to accrue interest from the date
    it is originally issued. The related prospectus supplement or
    term sheet will specify each debt security as a &#147;Fixed Rate
    Note,&#148; a &#147;Floating Rate Note,&#148; an
    &#147;Amortizing Note&#148; or an &#147;Indexed Note&#148; and
    describe the method of determining the interest rate, including
    any spread
    <FONT style="white-space: nowrap">and/or</FONT>
    spread multiplier. For an Indexed Note, the related prospectus
    supplement or term sheet also will describe the method for the
    calculation and payment of principal and interest. The
    prospectus supplement or term sheet for a Floating Rate Note or
    Indexed Note may also specify a maximum and a minimum interest
    rate.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A debt security may be issued as a Fixed Rate Note or a Floating
    Rate Note or as a Note that combines fixed and floating rate
    terms.
</DIV>
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    <BR>
    10
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Interest rates offered with respect to debt securities may
    differ depending upon, among other things, the aggregate
    principal amount of debt securities purchased in any single
    transaction. Debt securities with similar variable terms but
    different interest rates, as well as debt securities with
    different variable terms, may be offered concurrently to
    different investors. Interest rates or formulas and other terms
    of debt securities are subject to change from time to time, but
    no such change will affect any debt security already issued or
    as to which an offer to purchase has been accepted.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Interest on the debt securities denominated in U.S.&#160;dollars
    will be paid by check mailed on an Interest Payment Date (as
    defined below) other than a Maturity Date (as defined below) to
    the persons entitled thereto to the addresses of such holders as
    they appear in the security register or, at our option, by wire
    transfer to a bank account maintained by the holder. The
    principal of, premium, if any, and interest on debt securities
    denominated in U.S.&#160;dollars, together with interest accrued
    and unpaid thereon, due on the Maturity Date will be paid in
    immediately available funds upon surrender of such debt
    securities at the corporate trust office of the trustee in The
    City of New York, or, at our option, by wire transfer of
    immediately available funds to an account with a bank designated
    at least 15 calendar days prior to the Maturity Date by the
    applicable registered holder, provided the particular bank has
    appropriate facilities to receive these payments and the
    particular debt security is presented and surrendered at the
    office or agency maintained by us for this purpose in the
    Borough of Manhattan, The City of New York, in time for the
    trustee to make these payments in accordance with its normal
    procedures.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Fixed
    Rate Notes</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The prospectus supplement or term sheet for Fixed Rate Notes
    will describe a fixed interest rate payable semiannually in
    arrears on the dates specified in such term sheet or prospectus
    supplement (each, with respect to Fixed Rate Notes, an
    &#147;Interest Payment Date&#148;). Interest on Fixed Rate Notes
    will be computed on the basis of a
    <FONT style="white-space: nowrap">360-day</FONT> year
    of twelve
    <FONT style="white-space: nowrap">30-day</FONT>
    months. If the stated maturity date, any redemption date or any
    repayment date (together referred to as the &#147;Maturity
    Date&#148;) or an Interest Payment Date for any Fixed Rate Note
    is not a Business Day, principal of, premium, if any, and
    interest on that Note will be paid on the next Business Day, and
    no interest will accrue from and after the Maturity Date or
    Interest Payment Date. Interest on Fixed Rate Notes will be paid
    to holders of record as of each Regular Record Date. A
    &#147;Regular Record Date&#148; will be the fifteenth day
    (whether or not a Business Day) next preceding the applicable
    Interest Payment Date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each interest payment on a Fixed Rate Note will include interest
    accrued from, and including, the issue date or the last Interest
    Payment Date, as the case may be, to but excluding the
    applicable Interest Payment Date or the Maturity Date, as the
    case may be.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Original
    Issue Discount Notes</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may issue original issue discount debt securities (including
    zero coupon debt securities) (&#147;OID Notes&#148;), which are
    debt securities issued at a discount from the principal amount
    payable on the Maturity Date. There may not be any periodic
    interest payments on OID Notes. For OID Notes, interest normally
    accrues during the life of the OID Note and is paid on the
    Maturity Date. Upon a redemption, repayment or acceleration of
    the maturity of an OID Note, the amount payable will be
    determined as set forth under &#147;&#151;&#160;Optional
    Redemption, Repayment and Repurchase.&#148; This amount normally
    is less than the amount payable on the stated maturity date.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Amortizing
    Notes</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may issue amortizing debt securities, which are Fixed Rate
    Notes for which combined principal and interest payments are
    made in installments over the life of each debt securities
    (&#147;Amortizing Notes&#148;). Payments on Amortizing Notes are
    applied first to interest due and then to the reduction of the
    unpaid principal amount. The related prospectus supplement or
    term sheet for an Amortizing Note will include a table setting
    forth repayment information.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Floating
    Rate Notes</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each Floating Rate Note will have an interest rate basis or
    formula. That basis or formula may be based on:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the CD Rate;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the Commercial Paper Rate;
</TD>
</TR>

</TABLE>
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    <BR>
    11
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    LIBOR;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    EURIBOR;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the Federal Funds Rate;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the Prime Rate;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the Treasury Rate;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the CMT Rate;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the Eleventh District Cost of Funds Rate;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    another negotiated interest rate basis or formula.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The prospectus supplement or term sheet will also indicate any
    spread
    <FONT style="white-space: nowrap">and/or</FONT>
    spread multiplier, which would be applied to the interest rate
    formula to determine the interest rate. Any Floating Rate Note
    may have a maximum or minimum interest rate limitation. In
    addition to any maximum interest rate limitation, the interest
    rate on the Floating Rate Notes will in no event be higher than
    the maximum rate permitted by New York law, as the same may be
    modified by United States law for general application.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will appoint a calculation agent to calculate interest rates
    on the Floating Rate Notes. Unless we identify a different party
    in the prospectus supplement or term sheet, the paying agent
    will be the calculation agent for each Note.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless otherwise specified in a prospectus supplement or term
    sheet, the &#147;Calculation Date,&#148; if applicable, relating
    to an Interest Determination Date (as described below under
    &#147;&#151;&#160;Date Interest Rate is Determined&#148;) will
    be the earlier of (i)&#160;the tenth calendar day after such
    Interest Determination Date or, if such day is not a Business
    Day, the next succeeding Business Day, or (ii)&#160;the Business
    Day immediately preceding the relevant Interest Payment Date or
    the Maturity Date, as the case may be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Upon the request of the beneficial holder of any Floating Rate
    Note, the calculation agent will provide the interest rate then
    in effect and, if different, when available, the interest rate
    that will become effective on the next Interest Reset Date for
    the Floating Rate Note.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Change of Interest Rate.</I>&#160;&#160;The interest rate on
    each Floating Rate Note may be reset daily, weekly, monthly,
    quarterly, semiannually, annually or on some other specified
    basis (each, an &#147;Interest Reset Date&#148;). The Interest
    Reset Date will be:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Notes with interest that resets daily, each Business Day;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Notes (other than Treasury Rate Notes) with interest that
    resets weekly, Wednesday of each week;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Treasury Rate Notes with interest that resets weekly,
    Tuesday of each week;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Notes with interest that resets monthly, the third Wednesday
    of each month;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Notes with interest that resets quarterly, the third
    Wednesday of March, June, September and December of each year;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Notes with interest that resets semiannually, the third
    Wednesday of each of the two months of each year indicated in
    the applicable prospectus supplement or term sheet;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Notes with interest that resets annually, the third
    Wednesday of the month of each year indicated in the applicable
    prospectus supplement or term sheet.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The related prospectus supplement or term sheet will describe
    the initial interest rate or interest rate formula on each Note.
    That rate is effective until the following Interest Reset Date.
    Thereafter, the interest rate will be the rate determined on
    each Interest Determination Date. Each time a new interest rate
    is determined, it becomes effective on the following Interest
    Reset Date. If any Interest Reset Date is not a Business Day,
    then the Interest Reset Date is postponed to the next Business
    Day, except, in the case of LIBOR and EURIBOR Notes, if the next
    Business Day is in the next calendar month, the Interest Reset
    Date is the immediately preceding Business Day.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    12
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Date Interest Rate Is Determined.</I>&#160;&#160;The Interest
    Determination Date for all CD and CMT Rate Notes is the second
    Business Day before the Interest Reset Date and for all LIBOR
    Notes will be the second London Business Day immediately
    preceding the applicable Interest Reset Date (unless the LIBOR
    Currency is Sterling, in which case the Interest Determination
    Date will be the Interest Reset Date).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Interest Determination Date for Treasury Rate Notes will be
    the day of the week in which the Interest Reset Date falls on
    which Treasury bills of the Index Maturity are normally
    auctioned. Treasury bills are usually sold at auction on Monday
    of each week, unless that day is a legal holiday, in which case
    the auction is usually held on Tuesday. Sometimes, the auction
    is held on the preceding Friday. If an auction is held on the
    preceding Friday, that day will be the Interest Determination
    Date relating to the Interest Reset Date occurring in the next
    week.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Interest Determination Date for all Commercial Paper,
    Federal Funds and Prime Rate Notes will be the first Business
    Day preceding the Interest Reset Date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Interest Determination Date for EURIBOR Notes will be the
    second TARGET Business Day immediately preceding the applicable
    Interest Reset Date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Interest Determination Date for an Eleventh District Cost of
    Funds Rate Note is the last Business Day of the month
    immediately preceding the applicable Interest Reset Date in
    which the Federal Home Loan Bank of San&#160;Francisco published
    the applicable rate.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Interest Determination Date relating to a Floating Rate Note
    with an interest rate that is determined by reference to two or
    more interest rate bases will be the most recent Business Day
    which is at least two Business Days before the applicable
    Interest Reset Date for each interest rate for the applicable
    Floating Rate Note on which each interest rate basis is
    determinable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Payment of Interest.</I>&#160;&#160;Interest is paid as
    follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Notes with interest that resets daily, weekly or monthly, on
    the third Wednesday of each month;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Notes with interest payable quarterly, on the third
    Wednesday of March, June, September, and December of each year;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Notes with interest payable semiannually, on the third
    Wednesday of each of the two months specified in the applicable
    prospectus supplement or term sheet;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for Notes with interest payable annually, on the third Wednesday
    of the month specified in the applicable prospectus supplement
    or term sheet (each of the above, with respect to Floating Rate
    Notes, an &#147;Interest Payment Date&#148;);&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    at maturity, redemption or repayment.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each interest payment on a Floating Rate Note will include
    interest accrued from, and including, the issue date or the last
    Interest Payment Date, as the case may be, to but excluding the
    applicable Interest Payment Date or the Maturity Date, as the
    case may be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Interest on a Floating Rate Note will be payable beginning on
    the first Interest Payment Date after its issue date to holders
    of record at the close of business on each Regular Record Date,
    which is the fifteenth day (whether or not a Business Day) next
    preceding the applicable Interest Payment Date, unless the issue
    date falls after a Regular Record Date and on or prior to the
    related Interest Payment Date, in which case payment will be
    made to holders of record at the close of business on the
    Regular Record Date next preceding the second Interest Payment
    Date following the issue date. If an Interest Payment Date (but
    not the Maturity Date) is not a Business Day, then the Interest
    Payment Date will be postponed to the next Business Day, except
    in the case of LIBOR and EURIBOR Notes, if the next Business Day
    is in the next calendar month, the Interest Payment Date will be
    the immediately preceding Business Day. If the Maturity Date of
    any Floating Rate Note is not a Business Day, principal of,
    premium, if any, and interest on that Note will be paid on the
    next Business Day, and no interest will accrue from and after
    the Maturity Date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Accrued interest on a Floating Rate Note is calculated by
    multiplying the principal amount of a Note by an accrued
    interest factor. The accrued interest factor is the sum of the
    interest factors calculated for each day in the
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    13
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    period for which accrued interest is being calculated. The
    interest factor for each day is computed by dividing the
    interest rate in effect on that day by (1)&#160;the actual
    number of days in the year, in the case of Treasury Rate Notes
    or CMT Rate Notes, or (2)&#160;360, in the case of other
    Floating Rate Notes. The interest factor for Floating Rate Notes
    for which the interest rate is calculated with reference to two
    or more interest rate bases will be calculated in each period in
    the same manner as if only one of the applicable interest rate
    bases applied. All percentages resulting from any calculation
    are rounded to the nearest one hundred-thousandth of a
    percentage point, with five one-millionths of a percentage point
    rounded upward. For example, 9.876545% (or .09876545) will be
    rounded to 9.87655% (or .0987655). Dollar amounts used in the
    calculation are rounded to the nearest cent (with one-half cent
    being rounded upward).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>CD Rate Notes.</I>&#160;&#160;The &#147;CD Rate&#148; for any
    Interest Determination Date is the rate on that date for
    negotiable U.S.&#160;dollar certificates of deposit having the
    Index Maturity described in the related prospectus supplement or
    term sheet, as published in H.15(519) prior to 3:00&#160;P.M.,
    New York City time, on the Calculation Date, for that Interest
    Determination Date under the heading &#147;CDs (secondary
    market).&#148; The &#147;Index Maturity&#148; is the period to
    maturity of the instrument or obligation with respect to which
    the related interest rate basis or formula will be calculated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following procedures will be followed if the CD Rate cannot
    be determined as described above:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the above rate is not published in H.15(519) by
    3:00&#160;P.M., New York City time, on the Calculation Date, the
    CD Rate will be the rate on that Interest Determination Date for
    negotiable United States dollar certificates of deposit of the
    Index Maturity described in the prospectus supplement or term
    sheet as published in H.15 Daily Update, or such other
    recognized electronic source used for the purpose of displaying
    such rate, under the caption &#147;CDs (secondary market).&#148;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If that rate is not published in H.15(519), H.15 Daily Update or
    another recognized electronic source by 3:00&#160;P.M., New York
    City time, on the Calculation Date, then the calculation agent
    will determine the CD Rate to be the average of the secondary
    market offered rates as of 10:00&#160;A.M., New York City time,
    on that Interest Determination Date, quoted by three leading
    nonbank dealers of negotiable U.S.&#160;dollar certificates of
    deposit in New York City (which may include an agent or its
    affiliates) for negotiable U.S.&#160;dollar certificates of
    deposit of major United States money-center banks with a
    remaining maturity closest to the Index Maturity in an amount
    that is representative for a single transaction in the market at
    that time described in the prospectus supplement or term sheet.
    The calculation agent will select the three dealers referred to
    above.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If fewer than three dealers are quoting as mentioned above, the
    CD Rate will remain the CD Rate then in effect on that Interest
    Determination Date.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;H.15(519)&#148; </I>means the weekly statistical
    release designated as such, or any successor publication,
    published by the Board of Governors of the Federal Reserve
    System.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;H.15 Daily Update&#148; </I>means the daily update of
    H.15(519), available through the web site of the Board of
    Governors of the Federal Reserve System at
    <FONT style="white-space: nowrap">http://www.federalreserve.gov/releases/h15/update,</FONT>
    or any successor site or publication.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Commercial Paper Rate Notes.&#160;&#160;The
    </I>&#147;Commercial Paper Rate&#148; for any Interest
    Determination Date is the Money Market Yield of the rate on that
    date for commercial paper having the Index Maturity described in
    the related prospectus supplement or term sheet, as published in
    H.15(519) prior to 3:00&#160;PM., New York City time, on the
    Calculation Date for that Interest Determination Date under the
    heading &#147;Commercial Paper&#160;&#151; Nonfinancial.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following procedures will be followed if the Commercial
    Paper Rate cannot be determined as described above:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the above rate is not published in H.15(519) by
    3:00&#160;P.M., New York City time, on the Calculation Date, the
    Commercial Paper Rate will be the Money Market Yield of the rate
    on that Interest Determination Date for commercial paper having
    the Index Maturity described in the prospectus supplement or
    term sheet, as published in H.15 Daily Update, or such other
    recognized electronic source used for the purpose of displaying
    such rate, under the caption &#147;Commercial Paper&#160;&#151;
    Nonfinancial.&#148;
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    14
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If that rate is not published in H.15(519), H.15 Daily Update or
    another recognized electronic source by 3:00&#160;PM., New York
    City time, on the Calculation Date, then the calculation agent
    will determine the Commercial Paper Rate to be the Money Market
    Yield of the average of the offered rates of three leading
    dealers of U.S.&#160;dollar commercial paper in New York City
    (which may include an agent or its affiliates) as of
    11:00&#160;A.M., New York City time, on that Interest
    Determination Date for commercial paper having the Index
    Maturity described in the prospectus supplement or term sheet
    placed for an industrial issuer whose bond rating is
    &#147;Aa,&#148; or the equivalent, from a nationally recognized
    statistical rating organization. The calculation agent will
    select the three dealers referred to above.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If fewer than three dealers selected by the calculation agent
    are quoting as mentioned above, the Commercial Paper Rate will
    remain the Commercial Paper Rate then in effect on that Interest
    Determination Date.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Money Market Yield&#148; </I>means a yield (expressed
    as a percentage) calculated in accordance with the following
    formula:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="30%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="20%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="13%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="27%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="middle">
    Money Market Yield =
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="middle">
    D&#146;360<BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>360&#160;&#8722;&#160;(D&#146;
    M)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="middle">
    &#146;100
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    where &#147;D&#148; refers to the applicable per annum rate for
    commercial paper quoted on a bank discount basis and expressed
    as a decimal, and &#147;M&#148; refers to the actual number of
    days in the reset period for which interest is being calculated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>LIBOR Notes.</I>&#160;&#160;The &#147;LIBOR&#148; for any
    Interest Determination Date is the rate for deposits in the
    LIBOR Currency having the Index Maturity specified in such
    pricing supplement or term sheet as such rate is displayed on
    Reuters (or any successor service) on page&#160;LIBOR01 (or any
    other page as may replace such page on such service for the
    purpose of displaying the London interbank rates of major banks
    for the designated LIBOR Currency) (&#147;Reuters
    Page&#160;LIBOR01&#148;) as of 11:00&#160;A.M., London time, on
    such LIBOR Interest Determination Date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following procedure will be followed if LIBOR cannot be
    determined as described above:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The calculation agent shall request the principal London offices
    of each of four major reference banks (which may include
    affiliates of the agents) in the London interbank market, as
    selected by the calculation agent to provide the calculation
    agent with its offered quotation for deposits in the designated
    LIBOR Currency for the period of the Index Maturity specified in
    the applicable pricing supplement or term sheet, commencing on
    the related Interest Reset Date, to prime banks in the London
    interbank market at approximately 11:00&#160;a.m., London time,
    on such LIBOR Interest Determination Date and in a principal
    amount that is representative for a single transaction in the
    designated LIBOR Currency in such market at such time. If at
    least two such quotations are so provided, then LIBOR on such
    LIBOR Interest Determination Date will be the arithmetic mean
    calculated by the calculation agent of such quotations. If fewer
    than two such quotations are so provided, then LIBOR on such
    LIBOR Interest Determination Date will be the arithmetic mean
    calculated by the calculation agent of the rates quoted at
    approximately 11:00&#160;a.m., in the applicable Principal
    Financial Center (as described above), on such LIBOR Interest
    Determination Date by three major banks (which may include
    affiliates of the agents) in such Principal Financial Center
    selected by the calculation agent for loans in the designated
    LIBOR Currency to leading European banks, having the Index
    Maturity specified in the applicable pricing supplement or term
    sheet and in a principal amount that is representative for a
    single transaction in the designated LIBOR Currency in such
    market at such time; <I>provided</I>, <I>however</I>, that if
    the banks so selected by the calculation agent are not quoting
    as mentioned in this sentence, LIBOR determined as of such LIBOR
    Interest Determination Date shall be LIBOR in effect on such
    LIBOR Interest Determination Date.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;LIBOR Currency&#148; </I>means the currency specified
    in the applicable prospectus supplement or term sheet as to
    which LIBOR shall be calculated or, if no such currency is
    specified in the applicable prospectus supplement or term sheet,
    U.S.&#160;dollars.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>EURIBOR Notes.</I>&#160;&#160;The &#147;EURIBOR&#148; for any
    Interest Determination Date is the offered rate for deposits in
    euro having the Index Maturity specified in the applicable
    pricing supplement or term sheet, beginning on the
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    15
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    second TARGET Business Day after such EURIBOR Interest
    Determination Date, as that rate appears on Reuters
    Page&#160;EURIBOR 01 as of 11:00&#160;A.M., Brussels time, on
    such EURIBOR Interest Determination Date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following procedure will be followed if EURIBOR cannot be
    determined as described above:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    EURIBOR will be determined on the basis of the rates, at
    approximately 11:00&#160;A.M., Brussels time, on such EURIBOR
    Interest Determination Date, at which deposits of the following
    kind are offered to prime banks in the euro-zone interbank
    market by the principal euro-zone office of each of four major
    banks in that market selected by the calculation agent: euro
    deposits having such EURIBOR Index Maturity, beginning on such
    EURIBOR Interest Reset Date, and in a representative amount. The
    calculation agent will request that the principal euro-zone
    office of each of these banks provide a quotation of its rate.
    If at least two quotations are provided, EURIBOR for such
    EURIBOR Interest Determination Date will be the arithmetic mean
    of the quotations.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If fewer than two quotations are provided as described above,
    EURIBOR for such EURIBOR Interest Determination Date will be the
    arithmetic mean of the rates for loans of the following kind to
    leading euro-zone banks quoted, at approximately
    11:00&#160;A.M., Brussels time on that Interest Determination
    Date, by three major banks in the euro-zone selected by the
    calculation agent: loans of euro having such EURIBOR Index
    Maturity, beginning on such EURIBOR Interest Reset Date, and in
    an amount that is representative of a single transaction in euro
    in that market at the time.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If fewer than three banks selected by the calculation agent are
    quoting as described above, EURIBOR for the new interest period
    will be EURIBOR in effect for the prior interest period. If the
    initial base rate has been in effect for the prior interest
    period, however, it will remain in effect for the new interest
    period.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Federal Funds Rate Notes.</I>&#160;&#160;The &#147;Federal
    Funds Rate&#148; will be calculated by reference to either the
    &#147;Federal Funds (Effective) Rate&#148;, the &#147;Federal
    Funds Open Rate&#148; or the &#147;Federal Funds Target
    Rate&#148;, as specified in the applicable pricing supplement or
    term sheet. The Federal Funds Rate is the rate determined by the
    calculation agent, with respect to any Interest Determination
    Date relating to a Floating Rate Note for which the interest
    rate is determined with reference to the Federal Funds Rate (a
    &#147;Federal Funds Rate Interest Determination Date&#148;), in
    accordance with the following provisions:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If Federal Funds (Effective) Rate is the specified Federal Funds
    Rate in the applicable pricing supplement or term sheet, the
    Federal Funds Rate as of the applicable Federal Funds Rate
    Interest Determination Date shall be the rate with respect to
    such date for United States dollar federal funds as published in
    H.15(519) opposite the caption &#147;Federal funds
    (effective),&#148; as such rate is displayed on Reuters on
    page&#160;FEDFUNDS1 (or any other page as may replace such page
    on such service) (&#147;Reuters Page&#160;FEDFUNDS1&#148;) under
    the heading &#147;EFFECT,&#148; or, if such rate is not so
    published by 3:00&#160;P.M., New York City time, on the
    calculation date, the rate with respect to such Federal Funds
    Rate Interest Determination Date for United States dollar
    federal funds as published in H.15 Daily Update, or such other
    recognized electronic source used for the purpose of displaying
    such rate, under the caption &#147;Federal funds
    (effective).&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The following procedure will be followed if &#147;Federal Funds
    (Effective) Rate&#148; is the specified Federal Funds Rate in
    the applicable pricing supplement or term sheet and such Federal
    Funds Rate cannot be determined as described above. The Federal
    Funds Rate with respect to such Federal Funds Rate Interest
    Determination Date shall be calculated by the calculation agent
    and will be the arithmetic mean of the rates for the last
    transaction in overnight United States dollar federal funds
    arranged by three leading brokers of U.S.&#160;dollar federal
    funds transactions in New York City (which may include the
    agents or their affiliates) selected by the calculation agent,
    prior to 9:00&#160;A.M., New York City time, on the Business Day
    following such Federal Funds Rate Interest Determination Date;
    <I>provided</I>, <I>however</I>, that if the brokers so selected
    by the calculation agent are not quoting as mentioned in this
    sentence, the Federal Funds Rate determined as of such Federal
    Funds Rate Interest Determination Date will be the Federal Funds
    Rate in effect on such Federal Funds Rate Interest Determination
    Date.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If Federal Funds Open Rate is the specified Federal Funds Rate
    in the applicable pricing supplement or term sheet, the Federal
    Funds Rate as of the applicable Federal Funds Rate Interest
    Determination Date shall be the rate on such date under the
    heading &#147;Federal Funds&#148; for the relevant Index
    Maturity and opposite the
</TD>
</TR>

</TABLE>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    16
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    caption &#147;Open&#148; as such rate is displayed on Reuters on
    page&#160;5 (or any other page as may replace such page on such
    service) (&#147;Reuters Page&#160;5&#148;), or, if such rate
    does not appear on Reuters Page&#160;5 by 3:00&#160;P.M., New
    York City time, on the calculation date, the Federal Funds Rate
    for the Federal Funds Rate Interest Determination Date will be
    the rate for that day displayed on FFPREBON Index page on
    Bloomberg L.P. (&#147;Bloomberg&#148;), which is the Fed Funds
    Opening Rate as reported by Prebon Yamane (or a successor) on
    Bloomberg.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The following procedure will be followed if &#147;Federal Funds
    Open Rate&#148; is the specified Federal Funds Rate in the
    applicable pricing supplement or term sheet and such Federal
    Funds Rate cannot be determined as described above. The Federal
    Funds Rate on such Federal Funds Rate Interest Determination
    Date shall be calculated by the calculation agent and will be
    the arithmetic mean of the rates for the last transaction in
    overnight United States dollar federal funds arranged by three
    leading brokers of United States dollar federal funds
    transactions in New York City (which may include the agents or
    their affiliates) selected by the calculation agent prior to
    9:00&#160;A.M., New York City time, on such Federal Funds Rate
    Interest Determination Date; <I>provided</I>, <I>however</I>,
    that if the brokers so selected by the calculation agent are not
    quoting as mentioned in this sentence, the Federal Funds Rate
    determined as of such Federal Funds Rate Interest Determination
    Date will be the Federal Funds Rate in effect on such Federal
    Funds Rate Interest Determination Date.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If Federal Funds Target Rate is the specified Federal Funds Rate
    in the applicable pricing supplement or term sheet, the Federal
    Funds Rate as of the applicable Federal Funds Rate Interest
    Determination Date shall be the rate on such date as displayed
    on the FDTR Index page on Bloomberg. If such rate does not
    appear on the FDTR Index page on Bloomberg by 3:00&#160;P.M.,
    New York City time, on the calculation date, the Federal Funds
    Rate for such Federal Funds Rate Interest Determination Date
    will be the rate for that day appearing on Reuters
    Page&#160;USFFTARGET= (or any other page as may replace such
    page on such service) (&#147;Reuters
    Page&#160;USFFTARGET=&#148;).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The following procedure will be followed if &#147;Federal Funds
    Target Rate&#148; is the specified Federal Funds Rate in the
    applicable pricing supplement or term sheet and such Federal
    Funds Rate cannot be determined as described above. The Federal
    Funds Rate on such Federal Funds Rate Interest Determination
    Date shall be calculated by the calculation agent and will be
    the arithmetic mean of the rates for the last transaction in
    overnight United States dollar federal funds arranged by three
    leading brokers of United States dollar federal funds
    transactions in New York City (which may include the agents or
    their affiliates) selected by the calculation agent prior to
    9:00&#160;A.M., New York City time, on such Federal Funds Rate
    Interest Determination Date.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Prime Rate Notes.</I>&#160;&#160;The &#147;Prime Rate&#148;
    for any Interest Determination Date is the rate on that date, as
    published in H.15(519) by 3:00&#160;P.M., New York City time, on
    the Calculation Date for that Interest Determination Date under
    the heading &#147;Bank Prime Loan&#148; or, if not published by
    3:00&#160;P.M., New York City time, on the related Calculation
    Date, the rate on such Interest Determination Date as published
    in H.15 Daily Update, or such other recognized electronic source
    used for the purpose of displaying such rate, under the caption
    &#147;Bank Prime Loan.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following procedures will be followed if the Prime Rate
    cannot be determined as described above:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the rate is not published in H.15(519), H.15 Daily Update or
    another recognized electronic source by 3:00&#160;PM., New York
    City time, on the Calculation Date, then the calculation agent
    will determine the Prime Rate to be the average of the rates of
    interest publicly announced by each bank that appears on the
    Reuters Screen designated as &#147;US PRIME 1 Page&#148; as that
    bank&#146;s prime rate or base lending rate in effect as of
    11:00&#160;A.M., New York City time on that Interest
    Determination Date.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If fewer than four rates appear on the Reuters Page&#160;US
    PRIME 1 on the Interest Determination Date, then the Prime Rate
    will be the average of the prime rates or base lending rates
    quoted (on the basis of the actual number of days in the year
    divided by a
    <FONT style="white-space: nowrap">360-day</FONT>
    year) as of the close of business on the Interest Determination
    Date by three major banks, which may include an agent or its
    affiliates, in the City of New York selected by the calculation
    agent.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the banks selected by the calculation agent are not quoting
    as mentioned above, the Prime Rate will remain the Prime Rate
    then in effect on the Interest Determination Date.
</TD>
</TR>

</TABLE>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    17
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Reuters Page&#160;US PRIME 1&#148; </I>means the
    display on Reuters (or any successor service) on the &#147;US
    PRIME 1 Page&#148; (or such other page as may replace the US
    PRIME 1 Page on such service) for the purpose of displaying
    prime rates or base lending rates of major United States banks.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Treasury Rate Notes.</I>&#160;&#160;The &#147;Treasury
    Rate&#148; for any Interest Determination Date is the rate from
    the auction of direct obligations of the United States
    (&#147;Treasury bills&#148;) having the Index Maturity specified
    in such pricing supplement or term sheet under the caption
    &#147;INVEST RATE&#148; on the display on Reuters
    page&#160;USAUCTION10 (or any other page as may replace such
    page on such service) or page&#160;USAUCTION11 (or any other
    page as may replace such page on such service) or, if not so
    published at 3:00&#160;P.M., New York City time, on the related
    calculation date, the bond equivalent yield (as defined below)
    of the rate for such treasury bills as published in H.15 Daily
    Update, or such other recognized electronic source used for the
    purpose of displaying such rate, under the caption
    &#147;U.S.&#160;Government Securities/Treasury Bills/Auction
    High.&#148; If such rate is not so published in the related H.15
    Daily Update or another recognized source by 3:00&#160;P.M., New
    York City time, on the related calculation date, the Treasury
    Rate on such Treasury Rate Interest Determination Date shall be
    the bond equivalent yield of the auction rate of such Treasury
    bills as announced by the United States Department of the
    Treasury. In the event that such auction rate is not so
    announced by the United States Department of the Treasury on
    such calculation date, or if no such auction is held, then the
    Treasury Rate on such Treasury Rate Interest Determination Date
    shall be the bond equivalent yield of the rate on such Treasury
    Rate Interest Determination Date of Treasury bills having the
    Index Maturity specified in the applicable pricing supplement or
    term sheet as published in H.15(519) under the caption
    &#147;U.S.&#160;government securities/treasury bills/secondary
    market&#148; or, if not yet published by 3:00&#160;P.M., New
    York City time, on the related calculation date, the rate on
    such Treasury Rate Interest Determination Date of such treasury
    bills as published in H.15 Daily Update, or such other
    recognized electronic source used for the purpose of displaying
    such rate, under the caption &#147;U.S.&#160;government
    securities/treasury bills (secondary market).&#148; If such rate
    is not yet published in the H.15(519), H.15 Daily Update or
    another recognized electronic source by 3:00&#160;P.M., New York
    City time, on the related calculation date, then the Treasury
    Rate on such Treasury Rate Interest Determination Date shall be
    calculated by the calculation agent and shall be the bond
    equivalent yield of the arithmetic mean of the secondary market
    bid rates, as of approximately 3:30&#160;P.M., New York City
    time, on such Treasury Rate Interest Determination Date, of the
    three leading primary United States government securities
    dealers (which may include the agents or their affiliates)
    selected by the calculation agent, for the issue of Treasury
    bills with a remaining maturity closest to the Index Maturity
    specified in the applicable pricing supplement or term sheet;
    <I>provided, however</I>, that if the dealers so selected by the
    calculation agent are not quoting as mentioned in this sentence,
    the Treasury Rate determined as of such Treasury Rate Interest
    Determination Date will be the Treasury Rate in effect on such
    Treasury Rate Interest Determination Date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;bond equivalent yield&#148; </I>means a yield
    calculated in accordance with the following formula and
    expressed as a percentage:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="30%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="21%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="13%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="26%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="middle">
    bond equivalent yield =
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="middle">
    D&#146;360<BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>360&#160;&#8722;&#160;(D&#146;
    M)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="middle">
    &#146;100
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    where &#147;D&#148; refers to the applicable per annum rate for
    Treasury bills quoted on a bank discount basis and expressed as
    a decimal, &#147;N&#148; refers to the number of days in the
    year, either 365 or 366, as the case may be, and &#147;M&#148;
    refers to the actual number of days in the interest reset period
    for which interest is being calculated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>CMT Rate Notes.</I>&#160;&#160;The &#147;CMT Rate&#148; for
    any Interest Determination Date is as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If &#147;Reuters Page&#160;FRBCMT&#148; is the specified CMT
    Reuters Page in the applicable pricing supplement or term sheet,
    the CMT Rate on the CMT Rate Interest Determination Date shall
    be a percentage equal to the yield for United States Treasury
    securities at &#147;constant maturity&#148; having the Index
    Maturity specified in the applicable pricing supplement or term
    sheet as set forth in H.15(519) under the caption &#147;Treasury
    constant maturities,&#148; as such yield is displayed on Reuters
    (or any successor service) on page FRBCMT (or any other page as
    may replace such page on such service) (&#147;Reuters Page
    FRBCMT&#148;) for such CMT Rate Interest Determination Date.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If such rate does not appear on Reuters Page&#160;FRBCMT, the
    CMT Rate on such CMT Rate Interest Determination Date shall be a
    percentage equal to the yield for United States Treasury
    securities at &#147;constant
</TD>
</TR>
<!-- XBRL Paragraph Pagebreak -->

</TABLE>
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    <BR>
    18
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    maturity&#148; having the Index Maturity specified in the
    applicable pricing supplement or term sheet and for such CMT
    Rate Interest Determination Date as set forth in H.15(519) under
    the caption &#147;Treasury constant maturities.&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If such rate does not appear in H.15(519), the CMT Rate on such
    CMT Rate Interest Determination Date shall be the rate for the
    period of the Index Maturity specified in the applicable pricing
    supplement or term sheet as may then be published by either the
    Federal Reserve Board or the United States Department of the
    Treasury that the calculation agent determines to be comparable
    to the rate that would otherwise have been published in
    H.15(519).
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the Federal Reserve Board or the United States Department of
    the Treasury does not publish a yield on United States Treasury
    securities at &#147;constant maturity&#148; having the Index
    Maturity specified in the applicable pricing supplement or term
    sheet for such CMT Rate Interest Determination Date, the CMT
    Rate on such CMT Rate Interest Determination Date shall be
    calculated by the calculation agent and shall be a
    <FONT style="white-space: nowrap">yield-to-maturity</FONT>
    based on the arithmetic mean of the secondary market bid prices
    at approximately 3:30&#160;P.M., New York City time, on such CMT
    Rate Interest Determination Date of three leading primary United
    States government securities dealers in New York City (which may
    include the agents or their affiliates) (each, a &#147;reference
    dealer&#148;) selected by the calculation agent from five such
    reference dealers selected by the calculation agent and
    eliminating the highest quotation (or, in the event of equality,
    one of the highest) and the lowest quotation (or, in the event
    of equality, one of the lowest) for United States Treasury
    securities with an original maturity equal to the Index Maturity
    specified in the applicable pricing supplement or term sheet, a
    remaining term to maturity no more than one year shorter than
    such Index Maturity and in a principal amount that is
    representative for a single transaction in such securities in
    such market at such time. If fewer than three prices are
    provided as requested, the CMT Rate on such CMT Rate Interest
    Determination Date shall be calculated by the calculation agent
    and shall be a
    <FONT style="white-space: nowrap">yield-to-maturity</FONT>
    based on the arithmetic mean of the secondary market bid prices
    as of approximately 3:30&#160;P.M., New York City time, on such
    CMT Rate Interest Determination Date of three reference dealers
    selected by the calculation agent from five such reference
    dealers selected by the calculation agent and eliminating the
    highest quotation (or, in the event of equality, one of the
    highest) and the lowest quotation (or, in the event of equality,
    one of the lowest) for United States Treasury securities with an
    original maturity greater than the Index Maturity specified in
    the applicable pricing supplement or term sheet, a remaining
    term to maturity closest to such Index Maturity and in a
    principal amount that is representative for a single transaction
    in such securities in such market at such time. If two such
    United States Treasury securities with an original maturity
    greater than the Index Maturity specified in the applicable
    pricing supplement or term sheet have remaining terms to
    maturity equally close to such Index Maturity, the quotes for
    the treasury security with the shorter original term to maturity
    will be used. If fewer than five but more than two such prices
    are provided as requested, the CMT Rate on such CMT Rate
    Interest Determination Date shall be calculated by the
    calculation agent and shall be based on the arithmetic mean of
    the bid prices obtained and neither the highest nor the lowest
    of such quotations shall be eliminated; <I>provided</I>,
    <I>however</I>, that if fewer than three such prices are
    provided as requested, the CMT Rate determined as of such CMT
    Rate Interest Determination Date shall be the CMT Rate in effect
    on such CMT Rate Interest Determination Date.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If &#147;Reuters Page&#160;FEDCMT&#148; is the specified CMT
    Reuters Page in the applicable pricing supplement or term sheet,
    the CMT Rate on the CMT Rate Interest Determination Date shall
    be a percentage equal to the one-week or one-month, as specified
    in the applicable pricing supplement or term sheet, average
    yield for United&#160;States Treasury securities at
    &#147;constant maturity&#148; having the Index Maturity
    specified in the applicable pricing supplement or term sheet as
    set forth in H.15(519) opposite the caption &#147;Treasury
    Constant Maturities,&#148; as such yield is displayed on Reuters
    on page&#160;FEDCMT (or any other page as may replace such page
    on such service) (&#147;Reuters Page&#160;FEDCMT&#148;) for the
    week or month, as applicable, ended immediately preceding the
    week or month, as applicable, in which such CMT Rate Interest
    Determination Date falls.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If such rate does not appear on Reuters Page&#160;FEDCMT, the
    CMT Rate on such CMT Rate Interest Determination Date shall be a
    percentage equal to the one-week or one-month, as specified in
    the applicable pricing supplement or term sheet, average yield
    for United States Treasury securities at &#147;constant
    maturity&#148;
</TD>
</TR>
<!-- XBRL Paragraph Pagebreak -->

</TABLE>
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    <BR>
    19
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    having the Index Maturity specified in the applicable pricing
    supplement or term sheet for the week or month, as applicable,
    preceding such CMT Rate Interest Determination Date as set forth
    in H.15(519) opposite the caption &#147;Treasury Constant
    Maturities.&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If such rate does not appear in H.15(519), the CMT Rate on such
    CMT Rate Interest Determination Date shall be the one-week or
    one-month, as specified in the applicable pricing supplement or
    term sheet, average yield for United States Treasury securities
    at &#147;constant maturity&#148; having the Index Maturity
    specified in the applicable pricing supplement or term sheet as
    otherwise announced by the Federal Reserve Bank of New&#160;York
    for the week or month, as applicable, ended immediately
    preceding the week or month, as applicable, in which such CMT
    Rate Interest Determination Date falls.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the Federal Reserve Bank of New York does not publish a
    one-week or one-month, as specified in the applicable pricing
    supplement or term sheet, average yield on United States
    Treasury securities at &#147;constant maturity&#148; having the
    Index Maturity specified in the applicable pricing supplement or
    term sheet for the applicable week or month, the CMT Rate on
    such CMT Rate Interest Determination Date shall be calculated by
    the calculation agent and shall be a
    <FONT style="white-space: nowrap">yield-to-maturity</FONT>
    based on the arithmetic mean of the secondary market bid prices
    at approximately 3:30&#160;P.M., New York City time, on such CMT
    Rate Interest Determination Date of three reference dealers
    selected by the calculation agent from five such reference
    dealers selected by the calculation agent and eliminating the
    highest quotation (or, in the event of equality, one of the
    highest) and the lowest quotation (or, in the event of equality,
    one of the lowest) for United States Treasury securities with an
    original maturity equal to the Index Maturity specified in the
    applicable pricing supplement or term sheet, a remaining term to
    maturity of no more than one year shorter than such Index
    Maturity and in a principal amount that is representative for a
    single transaction in such securities in such market at such
    time. If fewer than five but more than two such prices are
    provided as requested, the CMT Rate on such CMT Rate Interest
    Determination Date shall be the rate on the CMT Rate Interest
    Determination Date calculated by the calculation agent based on
    the arithmetic mean of the bid prices obtained and neither the
    highest nor the lowest of such quotation shall be eliminated. If
    fewer than three prices are provided as requested, the CMT Rate
    on such CMT Rate Interest Determination Date shall be calculated
    by the calculation agent and shall be a
    <FONT style="white-space: nowrap">yield-to-maturity</FONT>
    based on the arithmetic mean of the secondary market bid prices
    as of approximately 3:30&#160;P.M., New York City time, on such
    CMT Rate Interest Determination Date of three reference dealers
    selected by the calculation agent from five such reference
    dealers selected by the calculation agent and eliminating the
    highest quotation (or, in the event of equality, one of the
    highest) and the lowest quotation (or, in the event of equality,
    one of the lowest) for United States Treasury securities with an
    original maturity longer than the Index Maturity specified in
    the applicable pricing supplement or term sheet, a remaining
    term to maturity closest to such Index Maturity and in a
    principal amount that is representative for a single transaction
    in such securities in such market at such time. If two United
    States Treasury securities with an original maturity greater
    than the Index Maturity specified in the applicable pricing
    supplement or term sheet have remaining terms to maturity
    equally close to such Index Maturity, the quotes for the
    Treasury security with the shorter original term to maturity
    will be used. If fewer than five but more than two such prices
    are provided as requested, the CMT Rate on such CMT Rate
    Interest Determination Date shall be the rate on the CMT Rate
    Interest Determination Date calculated by the calculation agent
    based on the arithmetic mean of the bid prices obtained and
    neither the highest nor lowest of such quotations shall be
    eliminated; <I>provided</I>, <I>however</I>, that if fewer than
    three such prices are provided as requested, the CMT Rate
    determined as of such CMT Rate Determination Date shall be the
    CMT Rate in effect on such CMT Rate Interest Determination Date.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Eleventh District Cost of Funds Rate
    Notes.</I>&#160;&#160;The &#147;Eleventh District Cost of Funds
    Rate&#148; for any Interest Determination Date is the rate equal
    to the monthly weighted average cost of funds for the calendar
    month preceding the Interest Determination Date as displayed on
    Reuters Page&#160;COFI/ARMS (or any other page as may replace
    that specified page on that service) as of 11:00&#160;A.M.,
    San&#160;Francisco time, on the Calculation Date for that
    Interest Determination Date under the caption
    &#147;11th&#160;District.&#148;
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    20
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    The following procedures will be used if the Eleventh District
    Cost of Funds Rate cannot be determined as described above:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the rate is not displayed on the relevant page as of
    11:00&#160;A.M., San&#160;Francisco time, on the Calculation
    Date, then the Eleventh District Cost of Funds Rate will be the
    monthly weighted average cost of funds paid by member
    institutions of the Eleventh Federal Home Loan Bank District, as
    announced by the Federal Home Loan Bank of San&#160;Francisco,
    as the cost of funds for the calendar month preceding the date
    of announcement.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If no announcement was made relating to the calendar month
    preceding the Interest Determination Date, the Eleventh District
    Cost of Funds Rate will remain the Eleventh District Cost of
    Funds Rate then in effect on the Interest Determination Date.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Indexed
    Notes</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may issue debt securities for which the amount of interest or
    principal that you will receive will not be known on your date
    of purchase. Interest or principal payments for these types of
    debt securities, which we call &#147;Indexed Notes,&#148; are
    determined by reference to securities, financial or
    non-financial indices, currencies, commodities, interest rates,
    or a composite or baskets of any or all of the above. Examples
    of indexed items that may be used include a published stock
    index, the common stock price of a publicly traded company, the
    value of the U.S.&#160;dollar versus the Japanese yen, or the
    price of a barrel of West Texas intermediate crude oil.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you purchase an Indexed Note, you may receive a principal
    amount at maturity that is greater than or less than the
    Note&#146;s face amount, and an interest rate that is greater
    than or less than the interest rate that you would have earned
    if you had instead purchased a conventional debt security issued
    by us at the same time with the same maturity. The amount of
    interest and principal that you will receive will depend on the
    structure of the Indexed Note and the level of the specified
    indexed item throughout the term of the Indexed Note and at
    maturity. Specific information pertaining to the method of
    determining the interest payments and the principal amount will
    be described in the prospectus supplement or term sheet, as well
    as additional risk factors unique to the Indexed Note, certain
    historical information for the specified indexed item and
    certain additional United States federal tax considerations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Renewable
    Notes</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may issue Renewable Notes (&#147;Renewable Notes&#148;) which
    are debt securities that will automatically renew at their
    stated maturity date unless the holder of a Renewable Note
    elects to terminate the automatic extension feature by giving
    notice in the manner described in the related prospectus
    supplement or term sheet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The holder of a Renewable Note must give notice of termination
    at least 15 but not more than 30&#160;days prior to a Renewal
    Date. The holder of a Renewable Note may terminate the automatic
    extension for less than all of its Renewable Notes only if the
    terms of the Renewable Note specifically permit partial
    termination. An election to terminate the automatic extension of
    any portion of the Renewable Note is not revocable and will be
    binding on the holder of the Renewable Note. If the holder
    elects to terminate the automatic extension of the maturity of
    the Note, the holder will become entitled to the principal and
    interest accrued up to the Renewal Date. The related prospectus
    supplement or term sheet will identify a stated maturity date
    beyond which the Maturity Date cannot be renewed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If a Renewable Note is represented by a Global Security, DTC or
    its nominee will be the holder of the Note and therefore will be
    the only entity that can exercise a right to terminate the
    automatic extension of a Note. In order to ensure that DTC or
    its nominee will exercise a right to terminate the automatic
    extension provisions of a particular Renewable Note, the
    beneficial owner of the Note must instruct the broker or other
    DTC participant through which it holds an interest in the Note
    to notify DTC of its desire to terminate the automatic extension
    of the Note. Different firms have different cut-off times for
    accepting instructions from their customers and, accordingly,
    each beneficial owner should consult the broker or other
    participant through which it holds an interest in a Note to
    ascertain the cut-off time by which an instruction must be given
    for delivery of timely notice to DTC or its nominee.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Extendible
    Notes</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may issue Notes whose stated Maturity Date may be extended at
    our option (an &#147;Extendible Note&#148;) for one or more
    whole-year periods (each, an &#147;Extension Period&#148;), up
    to but not beyond a stated maturity date described in the
    related prospectus supplement or term sheet (but not to exceed
    30&#160;years from the date of issue).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may exercise our option to extend the Extendible Note by
    notifying the applicable trustee (or any duly appointed paying
    agent) at least 45 but not more than 60&#160;days prior to the
    then effective Maturity Date. If we elect to extend the
    Extendible Note, the trustee (or paying agent) will mail (at
    least 40&#160;days prior to the Maturity Date) to the registered
    holder of the Extendible Note a notice (an &#147;Extension
    Notice&#148;) informing the holder of our election, the new
    Maturity Date and any updated terms. Upon the mailing of the
    Extension Notice, the maturity of that Extendible Note will be
    extended automatically as set forth in the Extension Notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    However, we may, not later than 20&#160;days prior to the
    Maturity Date of an Extendible Note (or, if that date is not a
    Business Day, prior to the next Business Day), at our option,
    establish a higher interest rate, in the case of a Fixed Rate
    Note, or a higher spread
    <FONT style="white-space: nowrap">and/or</FONT>
    spread multiplier, in the case of a Floating Rate Note, for the
    Extension Period by mailing or causing the applicable trustee
    (or paying agent) to mail notice of such higher interest rate or
    higher spread
    <FONT style="white-space: nowrap">and/or</FONT>
    spread multiplier to the holder of the Note. The notice will be
    irrevocable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we elect to extend the maturity of an Extendible Note, the
    holder of the Note will have the option to instead elect
    repayment of the Note by us on the then effective Maturity Date.
    In order for an Extendible Note to be so repaid on the Maturity
    Date, we must receive, at least 15&#160;days but not more than
    30&#160;days prior to the Maturity Date:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (1)&#160;the Extendible Note with the form &#147;Option to Elect
    Repayment&#148; on the reverse of the Note duly
    completed;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (2)&#160;a facsimile transmission, telex or letter from a member
    of a national securities exchange or the Financial Industry
    Regulatory Authority (the &#147;FINRA&#148;) or a commercial
    bank or trust company in the United States setting forth the
    name of the holder of the Extendible Note, the principal amount
    of the Note, the principal amount of the Note to be repaid, the
    certificate number or a description of the tenor and terms of
    the Note, a statement that the option to elect repayment is
    being exercised thereby and a guarantee that the Note be repaid,
    together with the duly completed form entitled &#147;Option to
    Elect Repayment&#148; on the reverse of the Note, will be
    received by the applicable trustee (or paying agent) not later
    than the fifth Business Day after the date of the facsimile
    transmission, telex or letter; <I>provided</I>, <I>however</I>;
    that the facsimile transmission, telex or letter will only be
    effective if the Note and form duly completed are received by
    the applicable trustee (or paying agent) by that fifth Business
    Day. The option may be exercised by the holder of an Extendible
    Note for less than the aggregate principal amount of the Note
    then outstanding if the principal amount of the Note remaining
    outstanding after repayment is an authorized denomination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If an Extendible Note is represented by a Global Security, DTC
    or its nominee will be the holder of that Note and therefore
    will be the only entity that can exercise a right to repayment.
    To ensure that DTC or its nominee timely exercises a right to
    repayment with respect to a particular Extendible Note, the
    beneficial owner of that Note must instruct the broker or other
    participant through which it holds an interest in the Note to
    notify DTC of its desire to exercise a right of repayment.
    Different firms have different cut-off times for accepting
    instructions from their customers and, accordingly, each
    beneficial owner should consult the broker or other participant
    through which it holds an interest in an Extendible Note to
    determine the cut-off time by which an instruction must be given
    for timely notice to be delivered to DTC or its nominee.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Global
    Securities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>What Is a Global Security? </I>As noted above, we usually
    will issue debt securities as registered securities in
    book-entry form only. A global security represents one or any
    other number of individual debt securities. Generally, all debt
    securities represented by the same global securities will have
    the same terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each debt security issued in book-entry form will be represented
    by a global security that we deposit with and register in the
    name of a financial institution or its nominee that we select.
    The financial institution that we select for this purpose is
    called the depositary. Unless we specify otherwise in the
    applicable prospectus supplement or term
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    sheet, The Depository Trust&#160;Company, New York, New York,
    known as DTC, will be the depositary for all debt securities
    issued in book-entry form.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A global security may not be transferred to or registered in the
    name of anyone other than the depositary or its nominee, unless
    special termination situations arise. We describe those
    situations below under &#147;Special Situations when a Global
    Security Will Be Terminated.&#148; As a result of these
    arrangements, the depositary, or its nominee, will be the sole
    registered owner and holder of all debt securities represented
    by a global security, and investors will be permitted to own
    only beneficial interests in a global security. Beneficial
    interests must be held by means of an account with a broker,
    bank or other financial institution that in turn has an account
    with the depositary or with another institution that has an
    account with the depositary. Thus, an investor whose security is
    represented by a global security will not be a holder of the
    debt security, but only an indirect holder of a beneficial
    interest in the global security.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Special Considerations for Global
    Securities.</I>&#160;&#160;As an indirect holder, an
    investor&#146;s rights relating to a global security will be
    governed by the account rules of the investor&#146;s financial
    institution and of the depositary, as well as general laws
    relating to securities transfers. The depositary that holds the
    global security will be considered the holder of the debt
    securities represented by the global security.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If debt securities are issued only in the form of a global
    security, an investor should be aware of the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    An investor cannot cause the debt securities to be registered in
    his or her name, and cannot obtain certificates for his or her
    interest in the debt securities, except in the special
    situations we describe below.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    An investor will be an indirect holder and must look to his or
    her own bank or broker for payments on the debt securities and
    protection of his or her legal rights relating to the debt
    securities, as we describe under &#147;Issuance of Securities in
    Registered Form&#148; above.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    An investor may not be able to sell interests in the debt
    securities to some insurance companies and other institutions
    that are required by law to own their securities in
    non-book-entry form.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    An investor may not be able to pledge his or her interest in a
    global security in circumstances where certificates representing
    the debt securities must be delivered to the lender or other
    beneficiary of the pledge in order for the pledge to be
    effective.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The depositary&#146;s policies, which may change from time to
    time, will govern payments, transfers, exchanges and other
    matters relating to an investor&#146;s interest in a global
    security. We and the trustee have no responsibility for any
    aspect of the depositary&#146;s actions or for its records of
    ownership interests in a global security. We and the trustee
    also do not supervise the depositary in any way.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If we redeem less than all the debt securities of a particular
    series being redeemed, DTC&#146;s practice is to determine by
    lot the amount to be redeemed from each of its participants
    holding that series.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    An investor is required to give notice of exercise of any option
    to elect repayment of its debt securities, through its
    participant, to the applicable trustee and to deliver the
    related debt securities by causing its participant to transfer
    its interest in those debt securities, on DTC&#146;s records, to
    the applicable trustee.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    DTC requires that those who purchase and sell interests in a
    global security deposited in its book-entry system use
    immediately available funds. Your broker or bank may also
    require you to use immediately available funds when purchasing
    or selling interests in a global security.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Financial institutions that participate in the depositary&#146;s
    book-entry system, and through which an investor holds its
    interest in a global security, may also have their own policies
    affecting payments, notices and other matters relating to the
    debt securities. There may be more than one financial
    intermediary in the chain of ownership for an investor. We do
    not monitor and are not responsible for the actions of any of
    those intermediaries.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Special Situations When a Global Security Will Be
    Terminated.</I>&#160;&#160;In a few special situations described
    below, a global security will be terminated and interests in it
    will be exchanged for certificates in non-book-entry form
    (certificated securities). After that exchange, the choice of
    whether to hold the certificated debt securities directly or
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    in street name will be up to the investor. Investors must
    consult their own banks or brokers to find out how to have their
    interests in a global security transferred on termination to
    their own names, so that they will be holders. We have described
    the rights of holders and street name investors under
    &#147;Holders of Registered Debt Securities&#148; above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The special situations for termination of a global security are
    as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if the depositary notifies us that it is unwilling, unable or no
    longer qualified to continue as depositary for that global
    security, and we do not appoint another institution to act as
    depositary within 60&#160;days,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if we notify the trustee that we wish to terminate that global
    security,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if an event of default has occurred with regard to the debt
    securities represented by that global security and has not been
    cured or waived; we discuss defaults later under &#147;Events of
    Default.&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The prospectus supplement or term sheet may list situations for
    terminating a global security that would apply only to the
    particular series of debt securities covered by the prospectus
    supplement or term sheet. If a global security is terminated,
    only the depositary, and not we or the applicable trustee, is
    responsible for deciding the names of the institutions in whose
    names the debt securities represented by the global security
    will be registered and, therefore, who will be the holders of
    those debt securities.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Payment
    and Paying Agents</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will pay interest to the person listed in the trustee&#146;s
    records as the owner of the debt security at the close of
    business on a particular day in advance of each due date for
    interest, even if that person no longer owns the debt security
    on the interest due date. That day, usually about two weeks in
    advance of the interest due date, is called the &#147;record
    date.&#148; Because we will pay all the interest for an interest
    period to the holders on the record date, holders buying and
    selling debt securities must work out between themselves the
    appropriate purchase price. The most common manner is to adjust
    the sales price of the debt securities to prorate interest
    fairly between buyer and seller based on their respective
    ownership periods within the particular interest period. This
    prorated interest amount is called &#147;accrued interest.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Payments on Global Securities.</I>&#160;&#160;We will make
    payments on a global security in accordance with the applicable
    policies of the depositary as in effect from time to time. Under
    those policies, we will make payments directly to the
    depositary, or its nominee, and not to any indirect holders who
    own beneficial interests in the global security. An indirect
    holder&#146;s right to those payments will be governed by the
    rules and practices of the depositary and its participants, as
    described under &#147;What Is a Global Security?&#148;.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Payments on Certificated Securities.</I>&#160;&#160;We will
    make payments on a certificated debt security as follows. We
    will pay interest that is due on an interest payment date by
    check mailed on the interest payment date to the holder at his
    or her address shown on the trustee&#146;s records as of the
    close of business on the regular record date. We will make all
    payments of principal and premium, if any, by check at the
    office of the applicable trustee in New York, New&#160;York
    <FONT style="white-space: nowrap">and/or</FONT> at
    other offices that may be specified in the prospectus supplement
    or term sheet or in a notice to holders, against surrender of
    the debt security.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Alternatively, if the holder asks us to do so, we will pay any
    amount that becomes due on the debt security by wire transfer of
    immediately available funds to an account at a bank in New York
    City, on the due date. To request payment by wire, the holder
    must give the applicable trustee or other paying agent
    appropriate transfer instructions at least 15 Business Days
    before the requested wire payment is due. In the case of any
    interest payment due on an interest payment date, the
    instructions must be given by the person who is the holder on
    the relevant regular record date. Any wire instructions, once
    properly given, will remain in effect unless and until new
    instructions are given in the manner described above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Payment When Offices Are Closed.&#160;&#160;</I>If any
    payment is due on a debt security on a day that is not a
    Business Day, we will make the payment on the next day that is a
    Business Day. Payments made on the next Business Day in this
    situation will be treated under the Indenture as if they were
    made on the original due date, except as otherwise indicated in
    the attached prospectus supplement or term sheet. Such payment
    will not result in a default under any debt security or the
    Indenture, and no interest will accrue on the payment amount
    from the original due date to the next day that is a Business
    Day.
</DIV>
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    <BR>
    24
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Material
    Covenants</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Consolidation, Merger, Sale or Conveyance.</I>&#160;&#160;The
    Indenture provides that AAM Inc. or Holdings may not consolidate
    with or merge into any other entity or convey, transfer or lease
    their properties and assets substantially as an entirety to any
    entity, unless:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the successor or transferee entity, if other than AAM Inc. or
    Holdings, as the case may be, is a corporation organized and
    existing under the laws of the United States, any state thereof
    or the District of Columbia and expressly assumes by a
    supplemental indenture executed and delivered to the trustee, in
    form reasonably satisfactory to the trustee, the due and
    punctual payment of the principal of, any premium on and any
    interest on, all the outstanding debt securities and the
    performance of every covenant and obligation in the Indenture to
    be performed or observed by AAM Inc. or Holdings, as the case
    may be;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    immediately after giving effect to the transaction, no Event of
    Default, as defined in the Indenture, and no event which, after
    notice or lapse of time or both, would become an Event of
    Default, has happened and is continuing;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    AAM Inc. or Holdings, as the case may be, has delivered to the
    trustee an officers&#146; certificate and an opinion of counsel,
    each in the form required by the Indenture and stating that such
    consolidation, merger, conveyance, transfer or lease and, if a
    supplemental indenture is required in connection with such
    transaction, such supplemental indenture comply with the
    foregoing provisions relating to such transaction.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In case of any such consolidation, merger, conveyance or
    transfer, the successor entity will succeed to and be
    substituted for AAM Inc. or Holdings, as the case may be, as
    obligor or guarantor on the debt securities, as the case may be,
    with the same effect as if it had been named in the Indenture as
    AAM Inc. or Holdings, as the case may be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Limitation on Liens.</I>&#160;&#160;AAM Inc. and Holdings
    will not, and will not permit any Restricted Subsidiary to,
    create, incur, issue, assume or guarantee any indebtedness for
    money borrowed (&#147;Debt&#148;) secured by a Mortgage upon any
    Operating Property, or upon shares of capital stock or Debt
    issued by any Restricted Subsidiary and owned by AAM Inc. or
    Holdings or any Restricted Subsidiary, whether owned at the date
    of the Indenture or thereafter acquired, without effectively
    providing concurrently that the debt securities of each series
    then outstanding under the Indenture are secured equally and
    ratably with or, at our option, prior to such Debt so long as
    such Debt shall be so secured.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The foregoing restriction shall not apply to, and there shall be
    excluded from Debt in any computation under such restriction,
    Debt secured by:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (1)&#160;Mortgages on any property existing at the time of the
    acquisition thereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (2)&#160;Mortgages on property of a corporation existing at the
    time such corporation is merged into or consolidated with our
    company or Holdings or a Restricted Subsidiary or at the time of
    a sale, lease or other disposition of the properties of such
    corporation (or a division thereof) as an entirety or
    substantially as an entirety to us, Holdings or a Restricted
    Subsidiary, <I>provided </I>that any such Mortgage does not
    extend to any property owned by us, Holdings or any Restricted
    Subsidiary immediately prior to such merger, consolidation,
    sale, lease or disposition;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (3)&#160;Mortgages on property of a corporation existing at the
    time such corporation becomes a Restricted Subsidiary;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (4)&#160;Mortgages in favor of our company, Holdings or a
    Restricted Subsidiary;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (5)&#160;Mortgages to secure all or part of the cost of
    acquisition, construction, development or improvement of the
    underlying property, or to secure debt incurred to provide funds
    for any such purpose, <I>provided </I>that the commitment of the
    creditor to extend the credit secured by any such Mortgage shall
    have been obtained no later than 360&#160;days after the later
    of (a)&#160;the completion of the acquisition, construction,
    development or improvement of such property or (b)&#160;the
    placing in operation of such property;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (6)&#160;Mortgages in favor of the United States of America or
    any State thereof, or any department, agency or instrumentality
    or political subdivision thereof, to secure partial, progress,
    advance or other payments;&#160;and
</DIV>
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    25
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (7)&#160;Mortgages existing on the date of the Indenture or any
    extension, renewal, replacement or refunding of any Debt secured
    by a Mortgage existing on the date of the Indenture or referred
    to in clauses&#160;(1) to (3)&#160;or (5), <I>provided </I>that
    any such extension, renewal, replacement or refunding of such
    Debt shall be created within 360&#160;days of repaying the Debt
    secured by the Mortgage referred to in clauses&#160;(1) to
    (3)&#160;or (5)&#160;and the principal amount of the Debt
    secured thereby and not otherwise authorized by clauses&#160;(1)
    to (3)&#160;or (5)&#160;shall not exceed the principal amount of
    Debt, plus any premium or fee payable in connection with any
    such extension, renewal, replacement or refunding, so secured at
    the time of such extension, renewal, replacement or refunding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding the restrictions described above, AAM Inc.,
    Holdings and any Restricted Subsidiaries may create, incur,
    issue, assume or guarantee Debt secured by Mortgages without
    equally and ratably securing the debt securities of each series
    then outstanding if, at the time of such creation, incurrence,
    issuance, assumption or guarantee, after giving effect thereto
    and to the retirement of any Debt which is concurrently being
    retired, the aggregate amount of all such Debt secured by
    Mortgages which would otherwise be subject to such restrictions
    (other than any Debt secured by Mortgages permitted as described
    in clauses&#160;(1) through (7)&#160;of the immediately
    preceding paragraph) plus all Attributable Debt of AAM Inc.,
    Holdings and the Restricted Subsidiaries in respect of Sale and
    Leaseback Transactions with respect to Operating Properties
    (with the exception of such transactions which are permitted
    under clauses&#160;(1) through (4)&#160;of the first sentence of
    the first paragraph under &#147;&#151;&#160;Limitation on Sale
    and Leaseback Transactions&#148; below) does not exceed 10% of
    Consolidated Net Tangible Assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Consolidated Tangible Assets&#148; </I>means the
    aggregate of all assets of Holdings (including the value of all
    existing Sale and Leaseback Transactions and any assets
    resulting from the capitalization of other long-term lease
    obligations in accordance with GAAP) appearing on the most
    recent available consolidated balance sheet of Holdings at their
    net book values, after deducting related depreciation,
    applicable allowances and other properly deductible items, and
    after deducting all goodwill, trademarks, tradenames, patents,
    unamortized debt discount and expenses and other like
    intangibles, all prepared in accordance with GAAP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Consolidated Current Liabilities&#148; </I>means the
    aggregate of the current liabilities of Holdings appearing on
    the most recent available consolidated balance sheet of
    Holdings, all in accordance with GAAP. In no event shall
    Consolidated Current Liabilities include any obligation of
    Holdings or its Subsidiaries issued under a revolving credit or
    similar agreement if the obligation issued under such agreement
    matures by its terms within 12&#160;months from the date thereof
    but by the terms of such agreement such obligation may be
    renewed or extended or the amount thereof reborrowed or refunded
    at the option of Holdings, our company or any Subsidiary for a
    term in excess of 12&#160;months from the date of determination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Consolidated Net Tangible Assets&#148; </I>means
    Consolidated Tangible Assets after deduction of Consolidated
    Current Liabilities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;GAAP&#148; </I>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 in
    effect on the Issue Date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Mortgage&#148; </I>means, with respect to any property
    or assets, any mortgage or deed of trust, pledge, hypothecation,
    assignment, security interest, lien, encumbrance, or any other
    security arrangement of any kind or nature whatsoever on or with
    respect to such property or assets (including any conditional
    sale or other title retention agreement having substantially the
    same economic effect as any of the foregoing).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Operating Property&#148; </I>means any real property or
    equipment located in the United States owned by, or leased to,
    AAM Inc., Holdings or any Subsidiary that has a market value in
    excess of 1.0% of Consolidated Net Tangible Assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Person&#148; </I>means any individual, corporation,
    partnership, joint venture, trust, unincorporated organization
    or government or any agency or political subdivision thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Restricted Subsidiary&#148; </I>means any Subsidiary
    (excluding AAM Inc.) that owns Operating Property.
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Sale and Leaseback Transaction&#148; </I>means any
    arrangement with any Person providing for the leasing to AAM
    Inc., Holdings or any Subsidiary of any Operating Property,
    which Operating Property has been or is to be sold or
    transferred by AAM Inc., Holdings or such Subsidiary to such
    Person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Subsidiary&#148; </I>means any corporation of which at
    least a majority of the outstanding stock having by the terms
    thereof ordinary voting power for the election of directors of
    such corporation (irrespective of whether or not at the time
    stock of any other class or classes of such corporation shall
    have or might have voting power by reason of the happening of
    any contingency) is at the time directly or indirectly owned by
    AAM Inc. or Holdings, or by one or more other Subsidiaries, or
    by AAM Inc. or Holdings and one or more other Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Limitation on Sale and Leaseback
    Transactions.</I>&#160;&#160;AAM Inc. and Holdings will not, and
    will not permit any Restricted Subsidiary to, enter into any
    Sale and Leaseback Transaction with respect to any Operating
    Property unless:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (1)&#160;the Sale and Leaseback Transaction is solely with our
    company, Holdings or another Restricted Subsidiary;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (2)&#160;the lease is for a period not in excess of twenty-four
    months, including renewals;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (3)&#160;our company, Holdings or such Restricted Subsidiary
    would (at the time of entering into such arrangement) be
    entitled as described in clauses&#160;(1) through (7)&#160;of
    the second paragraph under the heading
    &#147;&#151;&#160;Limitation on Liens,&#148; without equally and
    ratably securing the debt securities then outstanding under the
    Indenture, to create, incur, issue, assume or guarantee Debt
    secured by a Mortgage on such Operating Property in the amount
    of the Attributable Debt arising from such Sale and Leaseback
    Transaction;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (4)&#160;our company, Holdings or such Restricted Subsidiary
    within 360&#160;days after the sale of such Operating Property
    in connection with such Sale and Leaseback Transaction is
    completed, applies an amount equal to the greater of
    (A)&#160;the net proceeds of the sale of such Operating Property
    or (B)&#160;the fair market value of such Operating Property to
    (i)&#160;the retirement of debt securities, other Funded Debt of
    our company or Holdings ranking on a parity with the debt
    securities or Funded Debt of a Restricted Subsidiary or
    (ii)&#160;the purchase of Operating Property;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (5)&#160;the Attributable Debt of our company, Holdings and our
    Restricted Subsidiaries in respect of such Sale and Leaseback
    Transaction and all other Sale and Leaseback Transactions
    entered into after the date of the Indenture (other than any
    such Sale and Leaseback Transaction as would be permitted as
    described in clauses&#160;(1) through (4)&#160;of this
    sentence), plus the aggregate principal amount of Debt secured
    by Mortgages on Operating Properties then outstanding (not
    including any such Debt secured by Mortgages described in
    clauses&#160;(1) through (7)&#160;of the second paragraph under
    the heading &#147;&#151;&#160;Limitation on Liens&#148;) which
    do not equally and ratably secure such outstanding debt
    securities (or secure such outstanding debt securities on a
    basis that is prior to other Debt secured thereby), would not
    exceed 10% of Consolidated Tangible Net Assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Attributable Debt&#148; </I>in respect of any Sale and
    Leaseback Transaction, means, as of the time of determination,
    the total obligation (discounted to present value at the rate
    per annum equal to the discount rate which would be applicable
    to a capital lease obligation with like term in accordance with
    GAAP) of the lessee for rental payments (other than amounts
    required to be paid on account of property taxes, maintenance,
    repairs, insurance, water rates and other items which do not
    constitute payments for property rights) during the remaining
    portion of the initial term of the lease included in such Sale
    and Leaseback Transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Funded Debt&#148; </I>means all Debt having a maturity
    of more than 12&#160;months from the date as of which the
    determination is made or having a maturity of 12&#160;months or
    less but by its terms being renewable or extendable beyond
    12&#160;months from such date at the option of the borrower, but
    excluding any such Debt owed to our company, Holdings or a
    Subsidiary.
</DIV>
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    <BR>
    27
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Events of
    Default</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    An event of default is defined in the Indenture as:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;default for 30&#160;days in payment of any interest on
    the debt securities (including additional interest under the
    registration rights agreement described below) when it becomes
    due and payable;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;default in payment of principal of or any premium on
    the debt securities at maturity or redemption price when the
    same becomes due and payable;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;default by us or Holdings in the performance of any
    other covenant contained in the Indenture for the benefit of the
    debt securities that has not been remedied by the end of a
    period of 60&#160;days after notice is given as specified in the
    Indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;the guarantee of Holdings ceases to be in full force
    and effect or is declared null and void or Holdings denies that
    it has any further liability under its guarantee to the note
    holders, or has given notice to such effect (other than by
    reason of the termination of the Indenture or the release of
    such guarantee in accordance with the Indenture), and such
    condition shall have continued for a period of 30&#160;days
    after notice is given as specified in the Indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;default in the payment of principal when due or
    resulting in acceleration of other indebtedness of AAM Inc.,
    Holdings or any Significant Subsidiary for borrowed money where
    the aggregate principal amount with respect to which the default
    or acceleration has occurred exceeds $50&#160;million and such
    acceleration has not been rescinded or annulled or such
    indebtedness repaid within a period of 30&#160;days after
    written notice to us by the trustee or to us and the trustee by
    the holders of at least 25% in principal amount at maturity of
    the debt securities, <I>provided </I>that if any such default is
    cured, waived, rescinded or annulled, then the event of default
    by reason thereof would be deemed not to have occurred;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;certain events of bankruptcy, insolvency and
    reorganization of our company or Holdings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    When we refer to a &#147;Significant Subsidiary,&#148; we mean
    any Subsidiary that would constitute a &#147;significant
    subsidiary&#148; within the meaning of Article&#160;1 of
    <FONT style="white-space: nowrap">Regulation&#160;S-X</FONT>
    of the Securities Act as in effect on the date of the Indenture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Indenture provides that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if an event of default described in clause (a), (b), (c),
    (d)&#160;or (e)&#160;above has occurred and is continuing,
    either the trustee or the holders of not less than 25% in
    aggregate principal amount of the debt securities may declare
    the principal amount of the debt securities then outstanding,
    and any accrued and unpaid interest through the date of such
    declaration, to be due and payable immediately;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    upon certain conditions such declarations may be annulled and
    past defaults (except for defaults in the payment of principal
    of, any premium on or interest on, the debt securities and in
    compliance with certain covenants) may be waived by the holders
    of a majority in aggregate principal amount of the debt
    securities then outstanding;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if an event of default described in clause&#160;(f) occurs and
    is continuing, then the principal amount of all debt securities
    issued under the Indenture and then outstanding, together with
    any accrued interest through the
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    occurrence of such event, shall become and be due and payable
    immediately, without any declaration or other act by the trustee
    or any other holder.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the Indenture, the trustee must give to the holders of
    debt securities notice of all uncured defaults known to it with
    respect to the debt securities within 90&#160;days after such a
    default occurs (the term default to include the events specified
    above without notice or grace periods); <I>provided </I>that,
    except in the case of default in the payments of principal of,
    any premium on, any of the debt securities, the trustee will be
    protected in withholding such notice if it in good faith
    determines that the withholding of such notice is in the
    interests of the holders of the debt securities.
</DIV>
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    <BR>
    28
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No holder of any debt securities may institute any action under
    the Indenture unless:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    such holder has given the trustee written notice of a continuing
    event of default with respect to the debt securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the holders of not less than 25% in aggregate principal amount
    of the debt securities then outstanding have requested the
    trustee to institute proceedings in respect of such event of
    default;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    such holder or holders have offered the trustee such reasonable
    indemnity as the trustee may require;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the trustee has failed to institute an action for 60&#160;days
    thereafter;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    no inconsistent direction has been given to the trustee during
    such <FONT style="white-space: nowrap">60-day</FONT>
    period by the holders of a majority in aggregate principal
    amount of debt securities.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The holders of a majority in aggregate principal amount of the
    debt securities affected and then outstanding will have the
    right, subject to certain limitations, to direct the time,
    method and place of conducting any proceeding for any remedy
    available to the trustee or exercising any trust or power
    conferred on the trustee with respect to the debt securities.
    The Indenture provides that, if an event of default occurs and
    is continuing, the trustee, in exercising its rights and powers
    under the Indenture, will be required to use the degree of care
    of a prudent man in the conduct of his own affairs. The
    Indenture further provides that the trustee shall not be
    required to expend or risk its own funds or otherwise incur any
    financial liability in the performance of any of its duties
    under the Indenture unless it has reasonable grounds for
    believing that repayment of such funds or adequate indemnity
    against such risk or liability is reasonably assured to&#160;it.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We must furnish to the trustee within 120&#160;days after the
    end of each fiscal year a statement of our company signed by one
    of the officers of our company to the effect that a review of
    our activities during such year and our performance under the
    Indenture and the terms of the debt securities has been made,
    and, to the knowledge of the signatories based on such review,
    we have complied with all conditions and covenants of the
    Indenture or, if we are in default, specifying such default.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Modification
    of the Indenture</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We, the trustee and, if applicable, Holdings and any Subsidiary
    Guarantors, may, without the consent of the holders of the debt
    securities issued under the Indenture, enter into supplemental
    indenture for, among others, one or more of the following
    purposes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to evidence the succession of another corporation to our
    company, and the assumption by such successor of our obligations
    under the Indenture and the debt securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to add covenants of our company, or surrender any rights of the
    company, or add any rights for the benefit of the holders of
    debt securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to cure any ambiguity, omission, defect or inconsistency in such
    Indenture;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to add any guarantors with respect to the securities of any
    series;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to establish the form or terms of any other series of debt
    securities, including the form or terms of any Subsidiary
    Guarantor&#146;s guarantee of the securities
    <FONT style="white-space: nowrap">and/or</FONT> the
    provisions and procedures relating to securities convertible
    into or exchangeable for any securities of any Person, including
    the Company or Holdings;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to evidence and provide the acceptance of any successor trustee
    with respect to the debt securities or one or more other series
    of debt securities or to facilitate the administration of the
    trusts thereunder by one or more trustees in accordance with
    such Indenture;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to provide any additional events of default.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    With certain exceptions, the Indenture, the Holdings guarantee,
    any Subsidiary guarantee or the rights of the holders of the
    debt securities may be modified by us and the trustee with the
    consent of the holders of a majority in
</DIV>
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    <BR>
    29
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    aggregate principal amount of the debt securities then
    outstanding, but no such modification may be made without the
    consent of the holder of each outstanding debt security affected
    thereby that would:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    change the maturity of any payment of principal of, or any
    premium on, any debt securities, or change any place of payment
    where, or the coin or currency in which, any debt security or
    any premium is payable, or impair the right to institute suit
    for the enforcement of any such payment on or after the maturity
    thereof (or, in the case of redemption, on or after the
    redemption date);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduce the percentage in principal amount of the outstanding
    debt securities, the consent of whose holders is required for
    any such modification, or the consent of whose holders is
    required for any waiver of compliance with certain provisions of
    the Indenture or certain defaults thereunder and their
    consequences provided for in the Indenture;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    modify any of the provisions of certain sections of the
    Indenture, including the provisions summarized in this
    paragraph, except to increase any such percentage or to provide
    that certain other provisions of the Indenture cannot be
    modified or waived without the consent of the holder of each
    outstanding debt securities affected thereby.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Defeasance</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following provisions will be applicable to each series of
    debt securities unless we state in the applicable prospectus
    supplement or term sheet that the provisions of covenant
    defeasance and full defeasance will not be applicable to that
    series.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Covenant Defeasance.</I>&#160;&#160;Under current United
    States federal tax law, we can make the deposit described below
    and be released from some of the restrictive covenants in the
    Indenture under which the particular series was issued. This is
    called &#147;covenant defeasance.&#148; In that event, you would
    lose the protection of those restrictive covenants but would
    gain the protection of having money and government securities
    set aside in trust to repay your debt securities. If you hold
    subordinated securities, you also would be released from the
    subordination provisions described under &#147;Subordinated
    Indenture Provisions&#160;&#151; Subordination&#148; below. In
    order to achieve covenant defeasance, we must do the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the debt securities of the particular series are denominated
    in U.S.&#160;dollars, deposit in trust for the benefit of all
    holders of such debt securities a combination of money and
    United States government or United States government agency debt
    securities or bonds that will generate enough cash to make
    interest, principal and any other payments on the debt
    securities on their various due dates.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Deliver to the trustee a legal opinion of our counsel confirming
    that, under current United States federal income tax law, we may
    make the above deposit without causing you to be taxed on the
    debt securities any differently than if we did not make the
    deposit and just repaid the debt securities ourselves at
    maturity.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Deliver to the trustee a legal opinion of our counsel stating
    that the above deposit does not require registration by us under
    the Investment Company Act of 1940, as amended, and a legal
    opinion and officers&#146; certificate stating that all
    conditions precedent to covenant defeasance have been complied
    with.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we accomplish covenant defeasance, you can still look to us
    for repayment of the debt securities if there were a shortfall
    in the trust deposit or the trustee is prevented from making
    payment. In fact, if one of the remaining Events of Default
    occurred (such as our bankruptcy) and the debt securities became
    immediately due and payable, there might be a shortfall.
    Depending on the event causing the default, you may not be able
    to obtain payment of the shortfall.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Full Defeasance.</I>&#160;&#160;If there is a change in
    United States federal tax law, as described below, we can
    legally release ourselves from all payment and other obligations
    on the debt securities of a particular series (called &#147;full
    defeasance&#148;) if we put in place the following other
    arrangements for you to be repaid:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the debt securities of the particular series are denominated
    in U.S.&#160;dollars, we must deposit in trust for the benefit
    of all holders of such debt securities a combination of money
    and United States government or
</TD>
</TR>

</TABLE>
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    <BR>
    30
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    United States government agency debt securities or bonds that
    will generate enough cash to make interest, principal and any
    other payments on the debt securities on their various due dates.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    We must deliver to the trustee a legal opinion confirming that
    there has been a change in current United States federal tax law
    or an Internal Revenue Service ruling that allows us to make the
    above deposit without causing you to be taxed on the debt
    securities any differently than if we did not make the deposit
    and just repaid the debt securities ourselves at maturity. Under
    current United States federal tax law, the deposit and our legal
    release from the debt securities would be treated as though we
    paid you your share of the cash and debt securities or bonds at
    the time the cash and debt securities or bonds were deposited in
    trust in exchange for your debt securities and you would
    recognize gain or loss on the debt securities at the time of the
    deposit.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    We must deliver to the trustee a legal opinion of our counsel
    stating that the above deposit does not require registration by
    us under the Investment Company Act of 1940, as amended, and a
    legal opinion and officers&#146; certificate stating that all
    conditions precedent to defeasance have been complied with.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we ever did accomplish full defeasance, as described above,
    you would have to rely solely on the trust deposit for repayment
    of the debt securities. You could not look to us for repayment
    in the unlikely event of any shortfall. Conversely, the trust
    deposit would most likely be protected from claims of our
    lenders and other creditors if we ever became bankrupt or
    insolvent. If you hold subordinated securities, you would also
    be released from the subordination provisions described later
    under &#147;Subordinated Indenture
    Provisions&#151;&#160;Subordination.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Discharge
    of the Indenture</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may satisfy and discharge our obligations under the Indenture
    by delivering to the trustee for cancellation all outstanding
    debt securities or by depositing with the trustee or the paying
    agent after the debt securities have become due and payable,
    whether at stated maturity, or any redemption date, or
    otherwise, cash sufficient to pay all of the outstanding debt
    securities and paying all other sums payable under the Indenture
    by our company.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Form,
    Exchange and Transfer of Certificated Registered
    Securities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If registered debt securities cease to be issued in book-entry
    form, they will be issued:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    only in fully registered certificated form,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    without interest coupons,&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    unless we indicate otherwise in the prospectus supplement or
    term sheet, in denominations of $1,000 and amounts that are
    multiples of $1,000.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holders may exchange their certificated securities for debt
    securities of smaller denominations or combined into fewer debt
    securities of larger denominations, as long as the total
    principal amount is not changed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holders may exchange or transfer their certificated securities
    at the office of their trustee. We have appointed the trustee to
    act as our agent for registering debt securities in the names of
    holders transferring debt securities. We may appoint another
    entity to perform these functions or perform them ourselves.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holders will not be required to pay a service charge to transfer
    or exchange their certificated securities, but they may be
    required to pay any tax or other governmental charge associated
    with the transfer or exchange. The transfer or exchange will be
    made only if our transfer agent is satisfied with the
    holder&#146;s proof of legal ownership.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we have designated additional transfer agents for your debt
    security, they will be named in your prospectus supplement or
    term sheet. We may appoint additional transfer agents or cancel
    the appointment of any particular transfer agent. We may also
    approve a change in the office through which any transfer agent
    acts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any certificated securities of a particular series are
    redeemable and we redeem less than all the debt securities of
    that series, we may block the transfer or exchange of those debt
    securities during the period beginning 15&#160;days before the
    day we mail the notice of redemption and ending on the day of
    that mailing, in order to freeze the list of holders to prepare
    the mailing. We may also refuse to register transfers or
    exchanges of any certificated securities
</DIV>
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    <BR>
    31
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    selected for redemption, except that we will continue to permit
    transfers and exchanges of the unredeemed portion of any debt
    security that will be partially redeemed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If a registered debt security is issued in book-entry form, only
    the depositary will be entitled to transfer and exchange the
    debt security as described in this subsection, since it will be
    the sole holder of the debt security.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Resignation
    of Trustee</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The trustee may resign or be removed with respect to one or more
    series of indenture securities <I>provided </I>that a successor
    trustee is appointed to act with respect to these series. In the
    event that two or more persons are acting as trustee with
    respect to different series of indenture securities under the
    Indenture, each of the trustees will be a trustee of a trust
    separate and apart from the trust administered by any other
    trustee.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">The
    Trustee Under the Indenture</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    U.S.&#160;Bank National Association is one of a number of banks
    with which we maintain ordinary banking relationships and from
    which we may have obtained credit facilities and lines of credit.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Certain
    Considerations Relating to Foreign Currencies</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Debt securities denominated or payable in foreign currencies may
    entail significant risks. These risks include the possibility of
    significant fluctuations in the foreign currency markets, the
    imposition or modification of foreign exchange controls and
    potential illiquidity in the secondary market. These risks will
    vary depending upon the currency or currencies involved and will
    be more fully described in the applicable prospectus supplement
    or term sheet.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF GUARANTEES</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">The
    Guarantees</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This section summarizes some of the terms of the guarantees by
    Holdings and/or any relevant Subsidiary Guarantor. Most of the
    financial terms and other specific material terms of any
    guarantees that we offer will be described in a prospectus
    supplement or term sheet to be attached to the front of this
    prospectus. Furthermore, since the terms of specific guarantees
    may differ from the general information we have provided below,
    you should rely on information in the prospectus supplement or
    term sheet that contradicts different information below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each guarantee by Holdings
    <FONT style="white-space: nowrap">and/or</FONT> any
    Subsidiary Guarantors may:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    be senior obligations of the relevant Guarantor in the case of
    senior debt securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    be the unsecured and unsubordinated obligations of the relevant
    Guarantor in the case of senior unsecured debt securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    rank equally (or <I>pari passu</I>) with all other existing and
    future unsubordinated and unsecured indebtedness of the relevant
    Guarantor, respectively in the case of senior unsecured debt
    securities;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    with respect to any series of debt securities that is designated
    as subordinated, be junior and subordinated to any guarantee of
    any senior indebtedness on the same basis as such debt
    securities are junior and subordinated to any senior
    indebtedness.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The obligations of each Subsidiary Guarantor under its guarantee
    will be limited as necessary to prevent that guarantee from
    constituting a fraudulent conveyance or fraudulent transfer
    under applicable law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not all of our subsidiaries will guarantee the debt securities.
    In the event of a bankruptcy, liquidation or reorganization of
    any of these non-guarantor subsidiaries, these non-guarantor
    subsidiaries will pay holders of their debts and their trade
    creditors before they will be able to distribute any of their
    assets to us.
</DIV>
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    <BR>
    32
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each guarantee by a Subsidiary Guarantor will provide by its
    terms that it will be automatically and unconditionally released
    and discharged in accordance with its terms as more fully
    described in the applicable prospectus supplement or term sheet.
</DIV>

<A name='K50523108'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF DEBT WARRANTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may issue (either separately or together with other offered
    securities) debt warrants to purchase underlying debt securities
    issued by us (&#147;offered debt warrants&#148;). We will issue
    the debt warrants under warrant agreements (each a &#147;debt
    warrant agreement&#148;) to be entered into between us and a
    bank or trust company, as warrant agent (the &#147;debt warrant
    agent&#148;), identified in the prospectus supplement or term
    sheet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Because this section is a summary, it does not describe every
    aspect of the debt warrants and the debt warrant agreement. We
    urge you to read the debt warrant agreement because it, and not
    this description, defines your rights as a holder of debt
    warrants. We will file the form of debt warrant agreement with
    the SEC. See &#147;Where You Can Find More Information&#148; for
    information on how to obtain a copy of the debt warrant
    agreement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">General</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You should read the prospectus supplement or term sheet for the
    material terms of the offered debt warrants, including the
    following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The title and aggregate number of the debt warrants.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The title, rank, aggregate principal amount and terms of the
    underlying debt securities purchasable upon exercise of the debt
    warrants.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The principal amount of underlying debt securities that may be
    purchased upon exercise of each debt warrant, and the price or
    the manner of determining the price at which this principal
    amount may be purchased upon exercise.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The time or times at which, or the period or periods during
    which, the debt warrants may be exercised and the expiration
    date of the debt warrants.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Any optional redemption terms.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether certificates evidencing the debt warrants will be issued
    in registered or bearer form and, if registered, where they may
    be transferred and exchanged.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether the debt warrants are to be issued with any debt
    securities or any other securities and, if so, the amount and
    terms of these debt securities or other securities.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The date, if any, on and after which the debt warrants and these
    debt securities or other securities will be separately
    transferable.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Any other material terms of the debt warrants.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The prospectus supplement or term sheet will also contain a
    discussion of the United States federal income tax
    considerations relevant to the offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Debt warrant certificates will be exchangeable for new debt
    warrant certificates of different denominations. No service
    charge will be imposed for any permitted transfer or exchange of
    debt warrant certificates, but we may require payment of any tax
    or other governmental charge payable in connection therewith.
    Debt warrants may be exercised and exchanged and debt warrants
    in registered form may be presented for registration of transfer
    at the corporate trust office of the debt warrant agent or any
    other office indicated in the prospectus supplement or term
    sheet.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    33
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exercise
    of Debt Warrants</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each offered debt warrant will entitle the holder thereof to
    purchase the amount of underlying debt securities at the
    exercise price set forth in, or calculable from, the prospectus
    supplement or term sheet relating to the offered debt warrants.
    After the close of business on the expiration date, unexercised
    debt warrants will be void.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Debt warrants may be exercised by payment to the debt warrant
    agent of the applicable exercise price and by delivery to the
    debt warrant agent of the related debt warrant certificate,
    properly completed. Debt warrants will be deemed to have been
    exercised upon receipt of the exercise price and the debt
    warrant certificate or certificates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Upon receipt of this payment and the properly completed debt
    warrant certificates, we will, as soon as practicable, deliver
    the amount of underlying debt securities purchased upon exercise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If fewer than all of the debt warrants represented by any debt
    warrant certificate are exercised, a new debt warrant
    certificate will be issued for the unexercised debt warrants.
    The holder of a debt warrant will be required to pay any tax or
    other governmental charge that may be imposed in connection with
    any transfer involved in the issuance of underlying debt
    securities purchased upon exercise.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Modifications</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    There are three types of changes we can make to a debt warrant
    agreement and the debt warrants issued thereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Changes Requiring Your Approval.</I>&#160;&#160;First, there
    are changes that cannot be made to your debt warrants without
    your specific approval. Those types of changes include
    modifications and amendments that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    accelerate the expiration date;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduce the number of outstanding debt warrants, the consent of
    the holders of which is required for a modification or
    amendment;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    otherwise materially and adversely affect the rights of the
    holders of the debt warrants.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Changes Not Requiring Approval.</I>&#160;&#160;The second
    type of change does not require any vote by holders of the debt
    warrants. This type of change is limited to clarifications and
    other changes that would not materially adversely affect the
    interests of holders of the debt warrants.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Changes Requiring a Majority Vote.</I>&#160;&#160;Any other
    change to the debt warrant agreement and the debt warrants
    requires a vote in favor by holders of a majority in number of
    the then outstanding unexercised debt warrants affected thereby.
    Most changes fall into this category.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">No Rights
    as Holders of Underlying Debt Securities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Before the warrants are exercised, holders of the debt warrants
    are not entitled to payments of principal, premium or interest,
    if any, on the related underlying debt securities or to exercise
    any rights whatsoever as holders of the underlying debt
    securities.
</DIV>

<A name='K50523109'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF WARRANTS TO PURCHASE COMMON STOCK</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holdings may issue (either separately or together with other
    offered securities) warrants to purchase common stock of
    Holdings (&#147;common warrants&#148;). We will issue the common
    warrants under warrant agreements (each, a &#147;common warrant
    agreement&#148;) to be entered into between Holdings and a bank
    or trust company, as warrant agent (the &#147;common warrant
    agent&#148;), identified in the prospectus supplement or term
    sheet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Because this section is a summary, it does not describe every
    aspect of the common warrants and common warrant agreement.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    34
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">General</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You should read the prospectus supplement or term sheet for the
    material terms of the offered common warrants, including the
    following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The title and aggregate number of the common warrants.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The number of shares of common stock that may be purchased upon
    exercise of each common warrant; the price, or the manner of
    determining the price, at which the shares may be purchased upon
    exercise; if other than cash, the property and manner in which
    the exercise price may be paid; and any minimum number of common
    warrants that must be exercised at any one time.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The time or times at which, or period or periods in which, the
    common warrants may be exercised and the expiration date of the
    common warrants.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Any optional redemption terms.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The terms of any right that we may have to accelerate the
    exercise of the common warrants upon the occurrence of certain
    events.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether the common warrants will be sold with any other offered
    securities and, if so, the amount and terms of these other
    securities.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The date, if any, on and after which the common warrants and any
    other offered securities will be separately transferable.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Any other terms of the common warrants.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The prospectus supplement or term sheet will also contain a
    discussion of the United States federal income tax
    considerations relevant to the offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Certificates representing common warrants will be exchangeable
    for new common warrant certificates of different denominations.
    We will not impose a service charge for any permitted transfer
    or exchange of common warrant certificates, but we may require
    payment of any tax or other governmental charge payable in
    connection therewith. Common warrants may be exercised at the
    corporate trust office of the common warrant agent or any other
    office indicated in the prospectus supplement or term sheet.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exercise
    of Common Warrants</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each offered common warrant will entitle the holder thereof to
    purchase the number of shares of Holdings&#146; common stock at
    the exercise price set forth in, or calculable from, the
    prospectus supplement or term sheet relating to the common
    warrants. After the close of business on the applicable
    expiration date, unexercised common warrants will be void.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Common warrants may be exercised by payment to the common
    warrant agent of the exercise price and by delivery to the
    common warrant agent of the related common warrant certificate,
    with the reverse side thereof properly completed. Common
    warrants will be deemed to have been exercised upon receipt of
    the exercise price and the common warrant certificate or
    certificates. Upon receipt of the payment and the properly
    completed common warrant certificates, we will, as soon as
    practicable, deliver the shares of common stock purchased upon
    the exercise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If fewer than all of the common warrants represented by any
    common warrant certificate are exercised, a new common warrant
    certificate will be issued for the unexercised offered common
    warrants. The holder of an offered common warrant will be
    required to pay any tax or other governmental charge that may be
    imposed in connection with any transfer involved in the issuance
    of common stock purchased upon exercise.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Modifications</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    There are three types of changes Holdings can make to a common
    warrant agreement and the common warrants issued thereunder.
</DIV>
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    <BR>
    35
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Changes Requiring Your Approval.</I>&#160;&#160;First, there
    are changes that cannot be made to your common warrants without
    your specific approval. Those types of changes include
    modifications and amendments that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    accelerate the expiration date;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduce the number of outstanding common warrants, the consent of
    the holders of which is required for a modification or
    amendment;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    otherwise materially and adversely affect the rights of the
    holders of the common warrants.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Changes Not Requiring Approval.</I>&#160;&#160;The second
    type of change does not require any vote by holders of the
    common warrants. This type of change is limited to
    clarifications and other changes that would not materially
    adversely affect the interests of the holders of the common
    warrants.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Changes Requiring a Majority Vote.</I>&#160;&#160;Any other
    change to the common warrant agreement requires a vote in favor
    by holders of not fewer than a majority in number of the then
    outstanding unexercised common warrants affected thereby. Most
    changes fall into this category.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Common
    Warrant Adjustments</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The terms and conditions on which the exercise price of
    <FONT style="white-space: nowrap">and/or</FONT> the
    number of shares of common stock covered by a common warrant are
    subject to adjustment will be set forth in the common warrant
    agreement and the prospectus supplement or term sheet. The terms
    will include provisions for adjusting the exercise price
    <FONT style="white-space: nowrap">and/or</FONT> the
    number of shares of common stock covered by the common warrant;
    the events requiring the adjustment; the events upon which we
    may, in lieu of making the adjustment, make proper provisions so
    that the holder of a common warrant, upon exercise thereof,
    would be treated as if the holder had exercised the common
    warrant prior to the occurrence of the events; and provisions
    affecting exercise in the event of certain events affecting the
    common stock.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">No Rights
    as Stockholders</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holders of common warrants are not entitled, by virtue of being
    holders, to receive dividends or to vote, consent or receive
    notice as our stockholders in respect of any meeting of
    stockholders for the election of our directors or for any other
    matter, or exercise any other rights whatsoever as our
    stockholders.
</DIV>

<A name='K50523110'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF COMMON STOCK</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following summary describes elements of Holdings&#146;
    Certificate of Incorporation and Bylaws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holdings&#146; authorized capital stock consists of
    (i)&#160;150,000,000&#160;shares of common stock, par value $.01
    per share, of which 75,339,868&#160;shares were issued and
    outstanding as of June&#160;30, 2011, (ii)&#160;10,000,000
    shares of preferred stock, par value $.01 per share of which no
    shares are issued and outstanding and
    (iii)&#160;40,000,000&#160;shares of series common stock, par
    value $.01 per share, of which no shares are issued and
    outstanding. The following description of Holdings&#146; capital
    stock and related matters is qualified in its entirety by
    reference to the Certificate of Incorporation and the Bylaws,
    copies of which are on file with the SEC.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Common
    Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holders of common stock are entitled to one vote per share on
    all matters to be voted upon by the stockholders. The holders of
    common stock do not have cumulative voting rights in the
    election of directors. Holders of common stock are entitled to
    receive dividends if, as and when dividends are declared from
    time to time by Holdings&#146; Board of Directors out of funds
    legally available therefor, after payment of dividends required
    to be paid on outstanding preferred stock or series&#160;common
    stock (as described below), if any. In the event of liquidation,
    dissolution or winding up of Holdings, the holders of common
    stock are entitled to share ratably in all assets remaining
    after payment of liabilities and accrued but unpaid dividends
    and liquidation preferences on any outstanding preferred stock
    or series&#160;common stock of Holdings. The common stock has no
    preemptive or conversion rights and is not subject to further
    calls or assessment by Holdings. There are no redemption or
    sinking fund provisions applicable to
</DIV>
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    <BR>
    36
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the common stock. The common stock sold by Holdings in an
    offering pursuant to this prospectus, when sold to the
    underwriters of such offering in the manner described in this
    prospectus and the prospectus supplement or term sheet relating
    to such offering will be, and all currently outstanding common
    stock of Holdings is, duly authorized, validly issued, fully
    paid and non-assessable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Preferred
    Stock and Series&#160;Common Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Certificate of Incorporation authorizes the Board of
    Directors to establish one or more series of preferred stock and
    series&#160;common stock and to determine, with respect to any
    series of preferred stock or series&#160;common stock, the terms
    and rights of such series, including (i)&#160;the designation of
    the series, (ii)&#160;the number of shares of the series, which
    number the Board may thereafter (except where otherwise provided
    in the preferred stock or series&#160;common stock designation)
    increase or decrease (but not below the number of shares thereof
    then outstanding), (iii)&#160;whether dividends, if any, will be
    cumulative or non-cumulative and the dividend rate of the
    series, (iv)&#160;the dates at which dividends, if any, will be
    payable, (v)&#160;the redemption rights and price or prices, if
    any, for shares of the series, (vi)&#160;the terms and amounts
    of any sinking fund provided for the purchase or redemption of
    shares of the series, (vii)&#160;the amounts payable on shares
    of the series in the event of any voluntary or involuntary
    liquidation, dissolution or
    <FONT style="white-space: nowrap">winding-up</FONT>
    of the affairs of Holdings, (viii)&#160;whether the shares of
    the series will be convertible into shares of any other class or
    series, or any other security, of Holdings or any other
    corporation, and, if so, the specification of such other class
    or series or such other security, the conversion price or prices
    or rate or rates, any adjustments thereof, the date or dates as
    of which such shares shall be convertible and all other terms
    and conditions upon which such conversion may be made,
    (ix)&#160;restrictions on the issuance of shares of the same
    series or of any other class or series, and (x)&#160;the voting
    rights, if any, of the holders of such series. The authorized
    shares of preferred stock and series&#160;common stock, as well
    as shares of common stock, will be available for issuance
    without further action by Holdings&#146; stockholders, unless
    such action is required by applicable law or the rules of any
    stock exchange or automated quotation system on which the
    Holdings&#146; securities may be listed or traded.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Although the Board has no intention at the present time of doing
    so, it could issue a series of preferred stock or
    series&#160;common stock that could, depending on the terms of
    such series, impede the completion of a merger, tender offer or
    other takeover attempt. The Board will make any determination to
    issue such shares based on its judgment as to the best interests
    of Holdings and its stockholders. The Board, in so acting, could
    issue preferred stock or series&#160;common stock having terms
    that could discourage an acquisition attempt or other
    transaction that some, or a majority, of the Holdings&#146;
    stockholders might believe to be in their best interests or in
    which stockholders might receive a premium for their stock over
    the then-current market price of such stock.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Authorized
    but Unissued Capital Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Delaware law does not require stockholder approval for any
    issuance of authorized shares. However, the listing requirements
    of the New York Stock Exchange, which would apply so long as the
    common stock remains listed on the New York Stock Exchange,
    require stockholder approval of certain issuances equal to or
    exceeding 20% of the then outstanding voting power or then
    outstanding number of shares of common stock. These additional
    shares may be used for a variety of corporate purposes,
    including future public offerings to raise additional capital or
    to facilitate acquisitions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    One of the effects of the existence of unissued and unreserved
    common stock, preferred stock and series&#160;common stock may
    be to enable Holdings&#146; Board of Directors to issue shares
    to persons friendly to current management, which issuance could
    render more difficult or discourage an attempt to obtain control
    of the Holdings by means of a merger, tender offer, proxy
    contest or otherwise, and thereby protect the continuity of
    Holdings&#146; management and possibly deprive the stockholders
    of opportunities to sell their shares of common stock at prices
    higher than prevailing market prices.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">The
    Delaware General Corporation Law</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holdings is a Delaware corporation subject to Section&#160;203
    of the Delaware General Corporation Law (the &#147;DGCL&#148;).
    Section&#160;203 provides that, subject to certain exceptions
    specified therein, a Delaware corporation shall not engage in
    certain &#147;business combinations&#148; with any
    &#147;interested stockholder&#148; for a three-year period
    following
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the time that such stockholder became an interested stockholder
    unless (i)&#160;the corporation has elected in its certificate
    of incorporation not to be governed by Section&#160;203
    (Holdings has not made such an election), (ii)&#160;prior to
    such time, the board of directors of the corporation approved
    either the business combination or the transaction which
    resulted in the stockholder becoming an interested stockholder,
    (iii)&#160;upon consummation of the transaction which resulted
    in the stockholder becoming an interested stockholder, the
    interested stockholder owned at least 85% of the voting stock of
    the corporation outstanding at the time the transaction
    commenced (excluding certain shares), or (iv)&#160;at or
    subsequent to such time, the business combination is approved by
    the board of directors of the corporation and by the affirmative
    vote of at least
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of the outstanding voting stock which is not owned by the
    interested stockholder. The three-year prohibition also does not
    apply to certain business combinations proposed by an interested
    stockholder following the announcement or notification of
    certain extraordinary transactions involving the corporation and
    a person who had not been an interested stockholder during the
    previous three years or who became an interested stockholder
    with the approval of a majority of the corporation&#146;s
    directors. The term &#147;business combination&#148; is defined
    generally to include mergers or consolidations between a
    Delaware corporation and an &#147;interested stockholder,&#148;
    transactions with an &#147;interested stockholder&#148;
    involving the assets or stock of the corporation or its
    majority-owned subsidiaries and transactions which increase an
    interested stockholder&#146;s percentage ownership of stock.
    Except as specified in Section&#160;203 of the DGCL, an
    &#147;interested stockholder&#148; is defined to include any
    person, other than the corporation and any direct or indirect
    majority-owned subsidiary, that is (x)&#160;the owner of 15% or
    more of the outstanding voting stock of the corporation, or is
    an affiliate or associate of the corporation and was the owner
    of 15% or more of the outstanding voting stock of the
    corporation, at any time within three years immediately prior to
    the relevant date or (y)&#160;the affiliates and associates of
    any such person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under certain circumstances, Section&#160;203 makes it more
    difficult for a person who would be an &#147;interested
    stockholder&#148; to effect various business combinations with a
    corporation for a three-year period. The provisions of
    Section&#160;203 may encourage companies interested in acquiring
    Holdings to negotiate in advance with Holdings&#146; Board of
    Directors, because the stockholder approval requirement would be
    avoided if the Board of Directors approves either the business
    combination or the transaction which results in the stockholder
    becoming an interested stockholder. Such provisions also may
    have the effect of preventing changes in Holdings&#146; Board of
    Directors and may make it more difficult to accomplish
    transactions which stockholders may otherwise deem to be in
    their best interests.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Certificate
    of Incorporation; Bylaws</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Certificate of Incorporation and the Bylaws contain certain
    provisions that could make more difficult the acquisition of
    Holdings by means of a tender offer, a proxy contest or
    otherwise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Classified Board.</I>&#160;&#160;The Certificate of
    Incorporation provides that Holdings&#146; Board of Directors
    will be divided into three classes of directors, with the
    classes to be as nearly equal in number as possible. As a
    result, approximately one-third of the Board of Directors will
    be elected each year. The classification of directors will have
    the effect of making it more difficult for stockholders to
    change the composition of Holdings&#146; Board. The Certificate
    of Incorporation provides that, subject to any rights of holders
    of Preferred Stock or Series&#160;Common Stock to elect
    additional directors under specified circumstances, the number
    of directors will be fixed in the manner provided in the Bylaws.
    The Certificate of Incorporation and the Bylaws provide that the
    number of directors will be fixed from time to time exclusively
    pursuant to a resolution adopted by the Board, but must consist
    of not less than three directors. In addition, the Certificate
    of Incorporation provides that, subject to any rights of holders
    of Preferred Stock, and unless the Board otherwise determines,
    any vacancies will be filled only by the affirmative vote of a
    majority of the remaining directors, though less than a quorum.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Removal of Directors.</I>&#160;&#160;Under the DGCL, unless
    otherwise provided in the Certificate of Incorporation,
    directors serving on a classified board may be removed by the
    stockholders only for cause. In addition, the Certificate of
    Incorporation and the Bylaws provide that directors may be
    removed only for cause and only upon the affirmative vote of
    holders of at least 75% of the voting power of all the then
    outstanding shares of stock entitled to vote generally in the
    election of directors (&#147;Voting Stock&#148;), voting
    together as a single class.
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Stockholder Action.</I>&#160;&#160;The Certificate of
    Incorporation and the Bylaws provide that stockholder action can
    be taken only at an annual or special meeting of stockholders
    and may not be taken by written consent in lieu of a meeting.
    The Certificate of Incorporation and the Bylaws provide that
    special meetings of stockholders can be called only by
    Holdings&#146; Chief Executive Officer or pursuant to a
    resolution adopted by the Board. Stockholders are not permitted
    to call a special meeting or to require that the Board call a
    special meeting of stockholders. Moreover, the business
    permitted to be conducted at any special meeting of stockholders
    is limited to the business brought before the meeting pursuant
    to the notice of meeting given by Holdings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Advance Notice Procedures.</I>&#160;&#160;The Bylaws
    establish an advance notice procedure for stockholders to make
    nominations of candidates for election as directors, or bring
    other business before an annual or special meeting of
    stockholders of Holdings (the &#147;Stockholders Notice
    Procedure&#148;). The Stockholders Notice Procedure provides
    that only persons who are nominated by, or at the direction of
    the Board of Directors, the Chairman of the Board, or by a
    stockholder who has given timely written notice to the Secretary
    of Holdings prior to the meeting at which directors are to be
    elected, will be eligible for election as directors of Holdings.
    The Stockholders Notice Procedure also provides that at an
    annual meeting only such business may be conducted as has been
    brought before the meeting pursuant to the notice of meeting
    delivered by Holdings or by, or at the direction of, the
    Chairman of the Board or by a stockholder who is entitled to
    vote at the meeting and who has given timely written notice to
    the Secretary of Holdings of such stockholder&#146;s intention
    to bring such business before such meeting. Under the
    Stockholders Notice Procedure, for notice of stockholder
    nominations to be made at an annual meeting to be timely, such
    notice must be received by Holdings not less than 70&#160;days
    nor more than 90&#160;days prior to the first anniversary of the
    previous year&#146;s annual meeting (or, if the date of the
    annual meeting is advanced by more than 20&#160;days or delayed
    by more than 70&#160;days from such anniversary date, not
    earlier than the 90th&#160;day prior to such meeting and not
    later than the later of (x)&#160;the 70th&#160;day prior to such
    meeting and (y)&#160;the 10th&#160;day after public announcement
    of the date of such meeting is first made). Notwithstanding the
    foregoing, in the event that the number of directors to be
    elected is increased and there is no public announcement naming
    all of the nominees for director or specifying the size of the
    increased Board of Directors made by Holdings at least
    80&#160;days prior to the first anniversary of the preceding
    year&#146;s annual meeting, a stockholder&#146;s notice will be
    timely, but only with respect to nominees for any new positions
    created by such increase, if it is received by Holdings not
    later than the 10th&#160;day after such public announcement is
    first made by Holdings. Under the Stockholders Notice Procedure,
    for notice of a stockholder nomination to be made at a special
    meeting at which directors are to be elected to be timely, such
    notice must be received by Holdings not earlier than the
    90th&#160;day before such meeting and not later than the later
    of (x)&#160;the 70th&#160;day prior to such meeting and
    (y)&#160;the 10th&#160;day after the public announcement of the
    date of such meeting is first made. In addition, under the
    Stockholders Notice Procedure, a stockholder&#146;s notice to
    Holdings proposing to nominate a person for election as a
    director or relating to the conduct of business other than the
    nomination of directors must contain certain specified
    information. If the Chairman of the Board or other officer
    presiding at a meeting determines that a person was not
    nominated, or other business was not brought before the meeting,
    in accordance with the Stockholders Notice Procedure, such
    person will not be eligible for election as a director, or such
    business will not be conducted at such meeting, as the case may
    be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Liability of Directors; Indemnification.</I>&#160;&#160;The
    Certificate of Incorporation provides that a director will not
    be personally liable for monetary damages to Holdings or its
    stockholders for breach of fiduciary duty as a director, except
    to the extent such exemption from liability or limitation
    thereof is not permitted under the DGCL. The Certificate of
    Incorporation also provides that each current or former
    director, officer, employee or agent of Holdings, or each such
    person who is or was serving or who had agreed to serve at the
    request of Holdings as a director, officer, employee or agent of
    another corporation, partnership, joint venture, trust or other
    enterprise (including the heirs, executors, administrators or
    estate of such person), will be indemnified by Holdings to the
    full extent permitted by the DGCL, as the same exists or may in
    the future be amended (but, in the case of any such amendment,
    only to the extent that such amendment permits Holdings to
    provide broader indemnification rights than said law permitted
    Holdings to provide prior to such amendment). The Certificate of
    Incorporation also specifically authorizes Holdings to enter
    into agreements with any person providing for indemnification
    greater or different than that provided by the Certificate of
    Incorporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Amendment.</I>&#160;&#160;The Certificate of Incorporation
    provides that the affirmative vote of the holders of at least
    75% of the voting power of the outstanding shares of Voting
    Stock, voting together as a single class, is required to amend
</DIV>
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    <BR>
    39
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    provisions of the Certificate of Incorporation relating to the
    prohibition of stockholder action without a meeting; the number,
    election and term of Holdings&#146; directors; and the removal
    of directors. The Certificate of Incorporation further provides
    that the Bylaws may be amended by the Board or by the
    affirmative vote of the holders of at least 75% of the
    outstanding shares of Voting Stock, voting together as a single
    class.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The description set forth above is intended as a summary only
    and is qualified in its entirety by reference to the forms of
    the Certificate of Incorporation and the Bylaws, copies of which
    are being filed as exhibits to the Registration Statement of
    which this prospectus is a part.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Rights
    Plan</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In September 2003, Holdings&#146; Board of Directors adopted a
    Stockholder Rights Plan (the &#147;Rights Plan&#148;) and
    declared a dividend of one preferred share purchase right for
    each outstanding share of common stock for stockholders of
    record on September&#160;25, 2003. The Rights Plan provides a
    reasonable means of safeguarding the interests of all
    stockholders against unsolicited takeover attempts at a price
    not reflective of the Holdings&#146; fair value. The Rights Plan
    is designed to give the Board of Directors sufficient time to
    evaluate and respond to an unsolicited takeover attempt and to
    encourage anyone or group considering such action to negotiate
    first with the Board of Directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On October&#160;30, 2009, Holdings amended the Rights Plan in
    order to preserve the long-term value and availability of
    Holdings&#146; net operating loss (&#147;NOL&#148;)
    carryforwards and related tax benefits (&#147;Amended Rights
    Plan&#148;). The Amended Rights Plan, among other things,
    reduced the beneficial ownership threshold at which a person or
    group becomes an &#147;Acquiring Person&#148; under the plan
    from 15% of our then-outstanding shares of common stock to 4.99%
    of Holdings&#146; then-outstanding shares of common stock. The
    Amended Rights Plan also expanded the scope of the definition of
    &#147;Acquiring Person&#148; to include persons or groups that
    would be considered &#147;5-percent shareholders&#148; under
    Section&#160;382 of the Internal Revenue Code of 1986, as
    amended, and the treasury regulations promulgated thereunder.
    Stockholders who beneficially owned 5% or more of Holdings&#146;
    outstanding shares of common stock at the time of the amendment
    were exempt from the 4.99% threshold, subject to certain
    restrictions set forth in the Amended Rights Plan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On February&#160;8, 2011, Holdings&#146; Board of Directors
    approved a second amended and restated rights plan (&#147;Second
    Amended Rights Plan&#148;) to remove certain provisions that
    were added as part of the October 2009 amendment. The Second
    Amended Rights Plan, among other things, increases the
    beneficial ownership threshold at which a person or group
    becomes an &#147;Acquiring Person&#148; under the plan from
    4.99% of the Holdings&#146; then-outstanding shares of common
    stock to 15% of the Holdings&#146; then-outstanding shares of
    common stock. The Second Amended Rights Plan also narrows the
    scope of the definition of &#147;Acquiring Person&#148; to
    exclude the reference to persons or groups that would be
    considered &#147;5-percent shareholders&#148; under
    Section&#160;382 of the Internal Revenue Code of 1986, as
    amended, and the related treasury regulations promulgated
    thereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Second Amended Rights Plan will automatically expire by its
    terms on September&#160;15, 2013.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Registrar
    and Transfer Agent</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The registrar and transfer agent for the common stock is
    Computershare Trust&#160;Co. of New York.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Listing</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holdings&#146; common stock is listed on the New York Stock
    Exchange under the symbol &#147;AXL.&#148;
</DIV>

<A name='K50523111'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF PREFERRED STOCK</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under Holdings&#146; Certificate of Incorporation, it is
    authorized to adopt resolutions providing for the issuance, in
    one or more series, of up to 10,000,000&#160;shares of preferred
    stock, $.01&#160;par value, with the powers, preferences and
    relative, participating, optional or other special rights and
    qualifications, limitations or restrictions thereof adopted by
    the Board of Directors or a duly authorized committee thereof.
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Because this section is a summary, it does not describe every
    aspect of Holdings&#146; preferred stock. We urge you to read
    Holdings&#146; Certificate of Incorporation and the certificate
    of designations creating your preferred stock because they, and
    not this description, define your rights as a holder of
    preferred stock. Holdings has filed the Certificate of
    Incorporation and will file the certificate of designations with
    the SEC. See &#147;Where You Can Find More Information&#148; for
    information on how to obtain copies of these documents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The specific material terms of any preferred stock proposed to
    be sold under this prospectus and an attached prospectus
    supplement or term sheet will be described in the prospectus
    supplement or term sheet. If so indicated in the prospectus
    supplement or term sheet, the terms of the offered preferred
    stock may differ from the terms set forth below.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">General</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless otherwise specified in the prospectus supplement or term
    sheet relating to the offered preferred stock, each series of
    preferred stock will rank on a parity as to dividends and
    distribution of assets upon liquidation and in all other
    respects with all other series of preferred stock. The preferred
    stock will, when issued, be fully paid and nonassessable and
    holders thereof will have no preemptive rights.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You should read the prospectus supplement or term sheet for the
    material terms of the preferred stock offered thereby, including
    the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The title and stated value of the preferred stock.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The number of shares of the preferred stock offered, the
    liquidation preference per share and the offering price of the
    preferred stock.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The dividend rate(s), period(s)
    <FONT style="white-space: nowrap">and/or</FONT>
    payment date(s) or method(s) of calculation thereof applicable
    to the preferred stock.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The date from which dividends on the preferred stock will
    accumulate, if applicable.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The liquidation rights of the preferred stock.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The procedures for any auction and remarketing, if any, of the
    preferred stock.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The sinking fund provisions, if applicable, for the preferred
    stock.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The redemption provisions, if applicable, for the preferred
    stock.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether the preferred stock will be convertible into or
    exchangeable for other securities and, if so, the terms and
    conditions of conversion or exchange, including the conversion
    price or exchange ratio and the conversion or exchange period
    (or the method of determining the same).
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether the preferred stock will have voting rights and the
    terms thereof, if any.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether the preferred stock will be listed on any securities
    exchange.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Whether the preferred stock will be issued with any other
    securities and, if so, the amount and terms of these other
    securities.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Any other specific material terms, preferences or rights of, or
    limitations or restrictions on, the preferred stock.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to Holdings&#146; Certificate of Incorporation and to
    any limitations contained in its outstanding preferred stock,
    Holdings may issue additional series of preferred stock, at any
    time or from time to time, with the powers, preferences and
    relative, participating, optional or other special rights and
    qualifications, limitations or restrictions thereof, as the
    Board of Directors or any duly authorized committee thereof may
    determine, all without further action of its stockholders,
    including holders of its then outstanding preferred stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If applicable, the prospectus supplement or term sheet will also
    contain a discussion of the material United States federal
    income tax considerations relevant to the offering.
</DIV>
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    <BR>
    41
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Dividends</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holders of preferred stock will be entitled to receive cash
    dividends, when, as and if declared by the Board of Directors,
    out of Holdings&#146; assets legally available for payment, at
    the rate and on the dates set forth in the prospectus supplement
    or term sheet. Each dividend will be payable to holders of
    record as they appear on Holdings&#146; stock books on the
    record date fixed by the Board of Directors. Dividends, if
    cumulative, will be cumulative from and after the date set forth
    in the applicable prospectus supplement or term sheet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holdings may not:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    declare or pay dividends (except in its stock that is junior as
    to dividends and liquidation rights to the preferred stock
    (&#147;junior stock&#148;)) or make any other distributions on
    junior stock,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    purchase, redeem or otherwise acquire junior stock or set aside
    funds for that purpose (except in a reclassification or exchange
    of junior stock through the issuance of other junior stock or
    with the proceeds of a reasonably contemporaneous sale of junior
    stock),
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    if there are arrearages in dividends or failure in the payment
    of the sinking fund or redemption obligations on any of
    Holdings&#146; preferred stock and, in the case of the first
    bullet point above, if dividends in full for the current
    quarterly dividend period have not been paid or declared on any
    of Holdings&#146; preferred stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Dividends in full may not be declared or paid or set apart for
    payment on any series of preferred stock unless:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    there are no arrearages in dividends for any past dividend
    periods on any series of preferred stock,&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to the extent that the dividends are cumulative, dividends in
    full for the current dividend period have been declared or paid
    on all preferred stock.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dividends declared or paid when dividends are not so
    declared, paid or set apart in full will be shared ratably by
    the holders of all series of preferred stock in proportion to
    the respective arrearages and undeclared and unpaid current
    cumulative dividends. No interest, or sum of money in lieu of
    interest, will be payable in respect of any dividend payment or
    payments that may be in arrears.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Conversion
    and Exchange</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the preferred stock will be convertible into or exchangeable
    for common stock or other securities, the prospectus supplement
    or term sheet will set forth the terms and conditions of that
    conversion or exchange, including the conversion price or
    exchange ratio (or the method of calculating the same), the
    conversion or exchange period (or the method of determining the
    same), whether conversion or exchange will be mandatory or at
    the option of the holder or us, the events requiring an
    adjustment of the conversion price or the exchange ratio and
    provisions affecting conversion or exchange in the event of the
    redemption of that preferred stock. These terms may also include
    provisions under which the number of shares of common stock or
    the number or amount of other securities to be received by the
    holders of that preferred stock upon conversion or exchange
    would be calculated according to the market price of the common
    stock or those other securities as of a time stated in the
    prospectus supplement or term sheet.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Liquidation
    Rights</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the event of Holdings&#146; voluntary or involuntary
    liquidation, dissolution or winding up, the holders of each
    series of the preferred stock will be entitled to receive out of
    the assets that are available for distribution to stockholders,
    before any distribution of assets is made to holders of any
    junior stock, liquidating distributions in the amount set forth
    in the applicable prospectus supplement or term sheet plus all
    accrued and unpaid dividends. If, upon Holdings&#146; voluntary
    or involuntary liquidation, dissolution or winding up, the
    amounts payable with respect to the preferred stock are not paid
    in full, the holders of preferred stock of each series will
    share ratably in the distribution of assets in proportion to the
    full respective preferential amounts to which they are entitled.
    After payment of the full amount of the liquidating distribution
    to which they are entitled, the holders of the preferred stock
    will not be entitled to any further participation in any
    distribution of assets. Holdings&#146; consolidation or merger
    with or into any other corporation or corporations or a sale of
    all or substantially all of its assets will not be deemed to be
    a liquidation, dissolution or winding up for purposes of these
    provisions.
</DIV>
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    <BR>
    42
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Redemption</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If so provided in the prospectus supplement or term sheet, the
    offered preferred stock may be redeemable in whole or in part at
    Holdings&#146; option at the times and at the redemption prices
    set forth therein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If dividends on any series of preferred stock are in arrears or
    Holdings has failed to fulfill its sinking fund or redemption
    obligations with respect to any series of preferred stock,
    Holdings may not purchase or redeem shares of preferred stock or
    any other capital stock ranking on a parity with or junior to
    the preferred stock as to dividends or upon liquidation, nor
    permit any subsidiary to do so, without in either case the
    consent of the holders of at least two-thirds of each series of
    preferred stock then outstanding; <I>provided</I>,
    <I>however</I>, that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to meet purchase, retirement or sinking fund obligations with
    respect to any series of preferred stock, Holdings may use
    shares of that preferred stock acquired prior to the arrearages
    or failure of payment and then held as treasury stock,&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Holdings may complete the purchase or redemption of shares of
    preferred stock for which a contract was entered into for any
    purchase, retirement or sinking fund purposes prior to the
    arrearages or failure of payment.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Voting
    Rights</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as indicated below or in the prospectus supplement or
    term sheet, or except as expressly required by applicable law,
    the holders of the preferred stock will not be entitled to vote.
    As used herein, the term &#147;applicable preferred stock&#148;
    means those series of preferred stock to which the provisions
    described herein are expressly made applicable by resolutions of
    the Board of Directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the equivalent of six quarterly dividends payable on any
    shares of any series of applicable preferred stock are in
    default (whether or not the dividends have been declared or the
    defaulted dividends are consecutive), the number of directors
    will be increased by two and the holders of all outstanding
    series of applicable preferred stock, voting as a single class
    without regard to series, will be entitled to elect the two
    additional directors until four consecutive quarterly dividends
    are paid or declared and set apart for payment, if the shares
    are cumulative, or until all arrearages in dividends and
    dividends in full for the current quarterly period are paid or
    declared and set apart for payment, if the shares are
    non-cumulative, whereupon all voting rights described herein
    will be divested from the applicable preferred stock. The
    holders of applicable preferred stock may exercise their special
    class voting rights at meetings of the stockholders for the
    election of directors or at special meetings for the purpose of
    electing directors, in either case at which the holders of not
    less than one-third of the aggregate number of shares of
    applicable preferred stock are present in person or by proxy.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The affirmative vote of the holders of at least two-thirds of
    the outstanding shares of any series of preferred stock will be
    required:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for any amendment of the Certificate of Incorporation (or the
    related certificate of designations) that will adversely affect
    the powers, preferences or rights of the holders of the
    preferred stock of that series,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to create any class of stock (or increase the authorized number
    of shares of any class of stock) that will have preference as to
    dividends or upon liquidation over the preferred stock of that
    series or create any stock or other security convertible into or
    exchangeable for or evidencing the right to purchase any stock
    of that class.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the affirmative vote of the holders of a majority
    of all the shares of Holdings&#146; preferred stock then
    outstanding will be required to increase the authorized amount
    of preferred stock.
</DIV>

<A name='K50523112'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SPECIAL
    PROVISIONS RELATING TO FOREIGN CURRENCY DEBT
    SECURITIES</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">General</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless otherwise indicated in the applicable prospectus
    supplement or term sheet, the debt securities will be
    denominated in U.S.&#160;dollars, payments of principal of,
    premium, if any, and interest on the debt securities will be
    made in U.S.&#160;dollars and payment of the purchase price of
    the debt securities must be made in immediately available
</DIV>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    funds. If any of the debt securities (&#147;Foreign Currency
    Debt Securities&#148;) are to be denominated or payable in a
    currency (a &#147;specified currency&#148;) other than
    U.S.&#160;dollars, the following provisions will apply in
    addition to, and to the extent inconsistent therewith will
    replace, the description of general terms and provisions of debt
    securities set forth in the accompanying prospectus and
    elsewhere in this prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A prospectus supplement or term sheet with respect to any
    Foreign Currency Debt Security (which may include information
    with respect to applicable current foreign exchange controls) is
    a part of this prospectus and prospectus supplement or term
    sheet. Any information concerning exchange rates is furnished as
    a matter of information only and should not be regarded as
    indicative of the range of or trends in fluctuations in currency
    exchange rates that may occur in the future.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Currencies</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may offer Foreign Currency Debt Securities denominated
    <FONT style="white-space: nowrap">and/or</FONT>
    payable in a specified currency or specified currencies. Unless
    otherwise indicated in the applicable prospectus supplement or
    term sheet, purchasers are required to pay for Foreign Currency
    Debt Securities in the specified currency. At the present time,
    there are limited facilities in the United States for conversion
    of U.S.&#160;dollars into specified currencies and vice versa,
    and banks may elect not to offer
    <FONT style="white-space: nowrap">non-U.S.&#160;dollar</FONT>
    checking or savings account facilities in the United States.
    However, if requested on or prior to the fifth Business Day
    preceding the date of delivery of the Foreign Currency Debt
    Securities, or by such other day as determined by the agent who
    presents such offer to purchase Foreign Currency Debt Securities
    to us, such agent may be prepared to arrange for the conversion
    of U.S.&#160;dollars into the specified currency set forth in
    the applicable prospectus supplement or term sheet to enable the
    purchasers to pay for the Foreign Currency Debt Securities. Each
    such conversion will be made by the agents on such terms and
    subject to such conditions, limitations and charges as the
    agents may from time to time establish in accordance with their
    regular foreign exchange practices. All costs of exchange will
    be borne by the purchasers of the Foreign Currency Debt
    Securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Information about the specified currency in which a particular
    Foreign Currency Debt Security is denominated
    <FONT style="white-space: nowrap">and/or</FONT>
    payable, including historical exchange rates and a description
    of the currency and any exchange controls, will be set forth in
    the applicable prospectus supplement or term sheet.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Payment
    of Principal and Interest</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The principal of, premium, if any, and interest on Foreign
    Currency Debt Securities is payable by us in the specified
    currency. Currently, banks do not generally offer
    <FONT style="white-space: nowrap">non-U.S.&#160;dollar-denominated</FONT>
    account facilities in their offices in the United States,
    although they are permitted to do so. Accordingly, a holder of
    Foreign Currency Debt Securities will be paid in
    U.S.&#160;dollars converted from the specified currency unless
    the holder is entitled to elect, and does elect, to be paid in
    the specified currency, or as otherwise specified in the
    applicable prospectus supplement or term sheet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any U.S.&#160;dollar amount to be received by a holder of a
    Foreign Currency Debt Security will be based on the highest bid
    quotation in The City of New York received by an agent for us
    specified in the applicable prospectus supplement or term sheet
    (the &#147;Exchange Rate Agent&#148;) at approximately
    11:00&#160;A.M., New York City time, on the second Business Day
    preceding the applicable payment date from three recognized
    foreign exchange dealers (one of whom may be the Exchange Rate
    Agent) selected by the Exchange Rate Agent and approved by us
    for the purchase by the quoting dealer of the specified currency
    for U.S.&#160;dollars for settlement on the payment date in the
    aggregate amount of the specified currency payable to all
    holders of Foreign Currency Debt Securities scheduled to receive
    U.S.&#160;dollar payments and at which the applicable dealer
    commits to execute a contract. If three bid quotations are not
    available, payments will be made in the specified currency. All
    currency exchange costs will be borne by the holder of the
    Foreign Currency Debt Security by deductions from such payments.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless otherwise indicated in the applicable prospectus
    supplement or term sheet, a holder of Foreign Currency Debt
    Securities may elect to receive payment of the principal of, and
    premium, if any, and interest on the Foreign Currency Debt
    Securities in the specified currency by transmitting a written
    request for such payment to the corporate trust office of the
    trustee in The City of New York on or prior to the regular
    record date or at least fifteen calendar days prior to Maturity
    Date, as the case may be. This request may be in writing (mailed
    or hand delivered)
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    or sent by cable, telex or other form of facsimile transmission.
    A holder of a Foreign Currency Debt Security may elect to
    receive payment in the specified currency for all principal,
    premium, if any, and interest payments and need not file a
    separate election for each payment. This election will remain in
    effect until revoked by written notice to the trustee, but
    written notice of any revocation must be received by the trustee
    on or prior to the regular record date or at least fifteen
    calendar days prior to the Maturity Date, as the case may be.
    Holders of Foreign Currency Debt Securities whose debt
    securities are to be held in the name of a broker or nominee
    should contact their brokers or nominees to determine whether
    and how an election to receive payments in the specified
    currency may be made.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless otherwise specified in the applicable prospectus
    supplement or term sheet, if the specified currency is other
    than U.S.&#160;dollars, a beneficial owner of the related global
    security who elects to receive payments of principal, premium,
    if any,
    <FONT style="white-space: nowrap">and/or</FONT>
    interest, if any, in the specified currency must notify its
    participant through which it owns its beneficial interest on or
    prior to the applicable record date or at least fifteen calendar
    days prior to the Maturity Date, as the case may be, of such
    beneficial owner&#146;s election. The participant must notify
    the depositary of such election on or prior to the third
    Business Day after such record date or at least 12 calendar days
    prior to the Maturity Date, as the case may be, and the
    depositary will notify the trustee of such election on or prior
    to the fifth Business Day after such record date or at least ten
    calendar days prior to the Maturity Date, as the case may be. If
    complete instructions are received by the participant from the
    beneficial owner and forwarded by the participant to the
    depositary, and by the depositary to the trustee, on or prior to
    such dates, then the beneficial owner will receive payments in
    the specified currency. See &#147;Description of Debt
    Securities&#160;&#151; Global Securities&#148; in the
    accompanying prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Principal and interest on Foreign Currency Debt Securities paid
    in U.S.&#160;dollars will be paid in the manner specified in the
    accompanying prospectus supplement or term sheet and this
    prospectus with respect to debt securities denominated in
    U.S.&#160;dollars. Interest on Foreign Currency Debt Securities
    paid in the specified currency will be paid by check mailed on
    an Interest Payment Date other than a Maturity Date to the
    persons entitled thereto to the addresses of such holders as
    they appear in the security register or, at our option, by wire
    transfer to a bank account maintained by the holder in the
    country of the specified currency. The principal of, premium, if
    any, and interest on Foreign Currency Debt Securities, together
    with interest accrued and unpaid thereon, due on the Maturity
    Date will be paid, in the specified currency in immediately
    available funds upon surrender of such debt securities at the
    corporate trust office of the trustee in The City of New York,
    or, at our option, by wire transfer to such bank account of
    immediately available funds to an account with a bank designated
    at least 15 calendar days prior to the Maturity Date by the
    applicable registered holder, provided the particular bank has
    appropriate facilities to make these payments and the particular
    Foreign Currency Debt Security is presented and surrendered at
    the office or agency maintained by us for this purpose in the
    Borough of Manhattan, The City of New York, in time for the
    trustee to make these payments in accordance with its normal
    procedures.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Payment
    Currency</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If a specified currency is not available for the payment of
    principal, premium or interest with respect to a Foreign
    Currency Debt Security due to the imposition of exchange
    controls or other circumstances beyond our control, we will be
    entitled to satisfy our obligations to holders of Foreign
    Currency Debt Securities by making such payment in
    U.S.&#160;dollars on the basis of the noon buying rate in The
    City of New York for cable transfers of the specified currency
    as certified for customs purposes (or, if not so certified, as
    otherwise determined) by the Federal Reserve Bank of New York
    (the &#147;Market Exchange Rate&#148;) as computed by the
    Exchange Rate Agent on the second Business Day prior to such
    payment or, if not then available, on the basis of the most
    recently available Market Exchange Rate or as otherwise
    indicated in an applicable prospectus supplement or term sheet.
    Any payment made under these circumstances in U.S.&#160;dollars
    where the required payment is in a specified currency will not
    constitute a default under the Indenture with respect to the
    Debt Securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All determinations referred to above made by the Exchange Rate
    Agent will be at its sole discretion and will, in the absence of
    manifest error, be conclusive for all purposes and binding on
    the holders of the Foreign Currency Debt Securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>AS INDICATED ABOVE, AN INVESTMENT IN FOREIGN CURRENCY DEBT
    SECURITIES OR CURRENCY INDEXED DEBT SECURITIES INVOLVES
    SUBSTANTIAL RISKS, AND THE EXTENT AND NATURE OF SUCH RISKS
    CHANGE CONTINUOUSLY. AS WITH ANY INVESTMENT IN A </B>
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>SECURITY, PROSPECTIVE PURCHASERS SHOULD CONSULT THEIR OWN
    FINANCIAL AND LEGAL ADVISORS AS TO THE RISKS ENTAILED IN AN
    INVESTMENT IN FOREIGN CURRENCY DEBT SECURITIES OR CURRENCY
    INDEXED DEBT SECURITIES. SUCH DEBT SECURITIES ARE NOT AN
    APPROPRIATE INVESTMENT FOR PROSPECTIVE PURCHASERS WHO ARE
    UNSOPHISTICATED WITH RESPECT TO FOREIGN CURRENCY MATTERS.</B>
</DIV>

<A name='K50523114'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PLAN OF
    DISTRIBUTION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may sell the offered securities:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    through agents;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to or through underwriters;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    directly to other purchasers.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any underwriters or agents will be identified and their
    discounts, commissions and other items constituting
    underwriters&#146; compensation and any securities exchanges on
    which the securities are listed will be described in the
    applicable prospectus supplement or term sheet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We (directly or through agents) may sell, and the underwriters
    may resell, the offered securities in one or more transactions,
    including negotiated transactions, at a fixed public offering
    price or prices, which may be changed, or at market prices
    prevailing at the time of sale, at prices related to prevailing
    market prices or at negotiated prices.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In order to facilitate the offering of the debt securities, the
    underwriters or agents may engage in transactions that
    stabilize, maintain or otherwise affect the price of the debt
    securities and our common stock. These transactions may include
    short sales, stabilizing transactions and purchases to cover
    positions created by short sales. Short sales involve the sale
    by the underwriters or agents of a greater number of debt
    securities than they are required to purchase in the offering.
    &#147;Covered&#148; short sales are sales made in an amount not
    greater than the underwriters&#146; or agents&#146; option to
    purchase additional debt securities from us in the offering. The
    underwriters or agents may close out any covered short position
    by either exercising the option to purchase additional debt
    securities or purchasing debt securities in the open market. In
    determining the source of debt securities to close out the
    covered short position, the underwriters or agents will
    consider, among other things, the price of debt securities
    available for purchase in the open market as compared to the
    price at which they may purchase debt securities through the
    option. &#147;Naked&#148; short sales are sales in excess of the
    option. The underwriters or agents must close out any naked
    short position by purchasing debt securities in open market. A
    naked short position is more likely to be created if the
    underwriters or agents are concerned that there may be a
    downward pressure on the price of the debt securities in the
    open market after pricing that could adversely affect investors
    who purchase in the offering. Stabilizing transactions consist
    of certain bids for or purchases of the debt securities made by
    the underwriters or agents in the open market prior to the
    completion of the offering. Any of these activities may
    stabilize or maintain the market price of the debt securities
    above independent market levels. The underwriters or agents are
    not required to engage in these activities, and may end any of
    these activities at any time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In connection with the sale of offered securities, the
    underwriters or agents may receive compensation from us or from
    purchasers of the offered securities for whom they may act as
    agents. The underwriters may sell offered securities to or
    through dealers, who may also receive compensation from
    purchasers of the offered securities for whom they may act as
    agents. Compensation may be in the form of discounts,
    concessions or commissions. Underwriters, dealers and agents
    that participate in the distribution of the offered securities
    may be underwriters as defined in the Securities Act of 1933
    (the &#147;Act&#148;), and any discounts or commissions received
    by them from us and any profit on the resale of the offered
    securities by them may be treated as underwriting discounts and
    commissions under the Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will indemnify the underwriters and agents against certain
    civil liabilities, including liabilities under the Act, or
    contribute to payments they may be required to make in respect
    of such liabilities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Underwriters, dealers and agents may engage in transactions
    with, or perform services for, us or our affiliates in the
    ordinary course of their businesses.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    46
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If so indicated in the prospectus supplement or term sheet
    relating to a particular series or issue of offered securities,
    we will authorize underwriters, dealers or agents to solicit
    offers by certain institutions to purchase the offered
    securities from us under delayed delivery contracts providing
    for payment and delivery at a future date. These contracts will
    be subject only to those conditions set forth in the prospectus
    supplement or term sheet, and the prospectus supplement or term
    sheet will set forth the commission payable for solicitation of
    these contracts.
</DIV>

<A name='K50523115'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">LEGAL
    MATTERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The validity of the Holdings and AAM Inc. securities will be
    passed upon for us by Shearman&#160;&#038; Sterling LLP, 599
    Lexington Avenue, New York, New York 10022. Richard&#160;G.
    Raymond, who is General Counsel of Holdings and AAM Inc., will
    give us an opinion about the validity of the guarantees by the
    Subsidiary Guarantors. Mr.&#160;Raymond owns Holdings common
    stock and options to purchase shares of Holdings common stock.
</DIV>

<A name='K50523116'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXPERTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The financial statements, and the related financial statement
    schedule, incorporated in this prospectus by reference from
    Holdings&#146; Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the fiscal year ended December&#160;31, 2010, and the
    effectiveness of Holdings&#146; internal control over financial
    reporting have been audited by Deloitte&#160;&#038; Touche LLP,
    an independent registered public accounting firm, as stated in
    their report which is incorporated herein by reference. Such
    financial statements and financial statement schedule have been
    so incorporated in reliance upon the report of such firm given
    upon their authority as experts in accounting and auditing.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    47
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></DIV></CENTER>

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <IMG src="k50523k5052301.gif" alt="(AMERICAN AXLE AND MANUFACTURING LOGO)">
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 17pt"> AMERICAN AXLE&#160;&#038;
    MANUFACTURING, INC.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 17pt">AMERICAN AXLE&#160;&#038;
    MANUFACTURING HOLDINGS, INC.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">AAM International Holdings,
    Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">AccuGear, Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Colfor Manufacturing,
    Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">DieTronik, Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">MSP Industries
    Corporation</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Oxford Forge, Inc.</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Debt Securities<BR>
    Guarantees<BR>
    Warrants to Purchase Debt Securities<BR>
    Warrants to Purchase Common Stock</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Common Stock</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Preferred Stock</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

    <FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt; color: #000000"><U>&#173;
    &#173;</U></FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>PROSPECTUS</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 14%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></DIV></CENTER>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PART&#160;II<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">INFORMATION
    NOT REQUIRED IN PROSPECTUS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;14.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Other
    Expenses of Issuance and Distribution.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth the expenses in connection with
    the issuance and distribution of the securities being
    registered, other than underwriting discounts and commissions.
    All of the amounts shown are estimates, except the SEC
    registration fee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="88%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    SEC registration fee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="top">
    *
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Printing and engraving
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    $
</TD>
<TD nowrap align="right" valign="top">
    100,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Legal fees and expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    100,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Accounting fees
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    50,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trustees fees
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Total</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    $
</TD>
<TD nowrap align="right" valign="top">
    255,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    Deferred in accordance with Rules&#160;456(b) and 457(r) of the
    Securities Act of 1933.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;15.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Indemnification
    of Directors and Officers.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Section&#160;145 of the General Corporation Law of Delaware
    authorizes the Registrant to indemnify its directors and
    officers under specified circumstances. Article&#160;Twelve of
    the Certificate of Incorporation of the Registrant provides in
    effect that the Registrant shall provide certain indemnification
    of its directors and officers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Section&#160;145 of the General Corporation Law of Delaware also
    authorizes the Registrant to indemnify persons who serve as
    directors or officers of the Registrant at the request of the
    Registrant under specified circumstances. Article&#160;Six of
    the Restated Certificate of Incorporation of the Registrant
    provides in effect that the Registrant shall provide certain
    indemnification to such persons under certain circumstances.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The directors and officers of the Registrant are insured, under
    policies of insurance maintained by the Registrant, within the
    limits and subject to the limitations of the policies, against
    certain expenses in connection with the defense of actions,
    suits or proceedings, to which they are parties by reason of
    being or having been such directors or officers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The underwriting agreement basic provisions will provide for
    indemnification of directors, officers who sign the Registration
    Statement and controlling persons of the Registrant by the
    underwriters, and for indemnification of each underwriter and
    its controlling persons by the Registrant, against certain
    liabilities. Similar provisions are contained in agreements
    entered into between the Registrant and groups of underwriters
    on past occasions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;16.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">List
    of Exhibits.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The exhibits to this Registration Statement are listed in the
    exhibit index, which appears elsewhere herein and is
    incorporated herein by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;17.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Undertakings.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;The undersigned Registrant hereby undertakes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (1)&#160;To file, during any period in which offers or sales are
    being made, a post-effective amendment to this Registration
    Statement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;To include any prospectus required by
    Section&#160;10(a)(3) of the Securities Act of 1933;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;To reflect in the prospectus any facts or events
    arising after the effective date of the Registration Statement
    (or the most recent post-effective amendment thereof) which,
    individually or in the aggregate, represent a fundamental change
    in the information set forth in the Registration Statement.
    Notwithstanding the foregoing, any increase or decrease in
    volume of securities offered (if the total dollar value of
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-1
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    securities offered would not exceed that which was registered)
    and any deviation from the low or high end of the estimated
    maximum offering range may be reflected in the form of
    prospectus filed with the Commission pursuant to
    Rule&#160;424(b) under the Securities Act of 1933 if, in the
    aggregate, the changes in volume and price represent no more
    than a 20% change in the maximum aggregate offering price set
    forth in the &#147;Calculation of Registration Fee&#148; table
    in the effective Registration Statement;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;To include any material information with respect to
    the plan of distribution not previously disclosed in the
    Registration Statement or any material change to such
    information in the Registration Statement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>provided</I>, <I>however</I>, that clauses (i), (ii)&#160;and
    (iii)&#160;do not apply if the information required to be
    included in a post-effective amendment by those clauses is
    contained in reports filed with or furnished to the Commission
    by the Registrant pursuant to Section&#160;13 or
    Section&#160;15(d) of the Securities Exchange Act of 1934 that
    are incorporated by reference in the Registration Statement, or
    is contained in a form of prospectus filed pursuant to
    Rule&#160;424(b) that is part of the Registration Statement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (2)&#160;That, for the purpose of determining any liability
    under the Securities Act of 1933, each such post-effective
    amendment shall be deemed to be a new registration statement
    relating to the securities offered therein, and the offering of
    such securities at that time shall be deemed to be the initial
    bona fide offering thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (3)&#160;To remove from registration by means of a
    post-effective amendment any of the securities being registered
    which remain unsold at the termination of the offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (4)&#160;That, for the purpose of determining liability under
    the Securities Act of 1933 to any purchaser:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Each prospectus filed by the Registrant pursuant to
    Rule&#160;424(b)(3) shall be deemed to be part of the
    Registration Statement as of the date the filed prospectus was
    deemed part of and included in the Registration
    Statement;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;Each prospectus required to be filed pursuant to
    Rule&#160;424(b)(2), (b)(5), or (b)(7) as part of a registration
    statement in reliance on Rule&#160;430B relating to an offering
    made pursuant to Rule&#160;415(a)(1)(i), (vii), or (x)&#160;for
    the purpose of providing the information required by
    Section&#160;10(a) of the Securities Act of 1933 shall be deemed
    to be part of and included in the Registration Statement as of
    the earlier of the date such form of prospectus is first used
    after effectiveness or the date of the first contract of sale of
    securities in the offering described in the prospectus. As
    provided in Rule&#160;430B, for liability purposes of the issuer
    and any person that is at that date an underwriter, such date
    shall be deemed to be a new effective date of the Registration
    Statement relating to the securities in the Registration
    Statement to which the prospectus relates, and the offering of
    such securities at that time shall be deemed to be the initial
    bona fide offering thereof; <I>provided</I>, <I>however</I>,
    that no statement made in a registration statement or prospectus
    that is part of the Registration Statement or made in a document
    incorporated or deemed incorporated by reference into the
    Registration Statement or prospectus that is part of the
    Registration Statement will, as to a purchaser with a time of
    contract of sale prior to such effective date, supersede or
    modify any statement that was made in the registration statement
    or prospectus that was part of the Registration Statement or
    made in any such document immediately prior to such effective
    date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (5)&#160;That, for the purpose of determining liability of the
    Registrant under the Securities Act of 1933 to any purchaser in
    the initial distribution of the securities, the undersigned
    Registrant undertakes that in a primary offering of securities
    of the undersigned Registrant pursuant to this Registration
    Statement, regardless of the underwriting method used to sell
    the securities to the purchaser, if the securities are offered
    or sold to such purchaser by means of any of the following
    communications, the undersigned Registrant will be a seller to
    the purchaser and will be considered to offer or sell such
    securities to such purchaser:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Any preliminary prospectus or prospectus of the
    undersigned Registrant relating to the offering required to be
    filed pursuant to Rule&#160;424;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;Any free writing prospectus relating to the offering
    prepared by or on behalf of the undersigned Registrant or used
    or referred to by the undersigned Registrant;
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-2
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;The portion of any other free writing prospectus
    relating to the offering containing material information about
    the undersigned Registrant or its securities provided or on
    behalf of the undersigned Registrant;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iv)&#160;Any other communication that is an offer in the
    offering made by the undersigned Registrant to the purchaser.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;The undersigned Registrant hereby undertakes that, for
    purposes of determining any liability under the Securities Act,
    each filing of the Registrant&#146;s annual report pursuant to
    Section&#160;13(a) or Section&#160;15(d) of the Securities
    Exchange Act of 1934 (and where applicable, each filing of an
    employee benefit plan&#146;s annual report pursuant to
    section&#160;15(d) of the Securities Exchange Act of
    1934)&#160;that is incorporated by reference in the Registration
    Statement shall be deemed to be a new registration statement
    relating to the securities offered therein, and the offering of
    such securities at that time shall be deemed to be the initial
    bona fide offering thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The undersigned Registrant hereby undertakes to deliver
    or cause to be delivered with the prospectus, to each person to
    whom the prospectus is sent or given, the latest annual report
    to security holders that is incorporated by reference in the
    prospectus and furnished pursuant to and meeting the
    requirements of
    <FONT style="white-space: nowrap">Rule&#160;14a-3</FONT>
    or
    <FONT style="white-space: nowrap">Rule&#160;14c-3</FONT>
    under the Securities Exchange Act of 1934; and, where interim
    financial information required to be presented by Article&#160;3
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X</FONT>
    are not set forth in the prospectus, to deliver, or cause to be
    delivered to each person to whom the prospectus is sent or
    given, the latest quarterly report that is specifically
    incorporated by reference in the prospectus to provide such
    interim financial information.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Insofar as indemnification for liabilities arising
    under the Securities Act of 1933&#160;may be permitted to
    directors, officers and controlling persons of the Registrant
    pursuant to the foregoing provisions, or otherwise, the
    Registrant has been advised that in the opinion of the
    Securities and Exchange Commission such indemnification is
    against public policy as expressed in the Securities Act of 1933
    and is, therefore, unenforceable. In the event that a claim for
    indemnification against such liabilities (other than the payment
    by the Registrant of expenses incurred or paid by a director,
    officer or controlling person of the Registrant in the
    successful defense of any action, suit or proceeding) is
    asserted by such director, officer or controlling person in
    connection with the securities being registered, the Registrant
    will, unless in the opinion of its counsel the matter has been
    settled by controlling precedent, submit to a court of
    appropriate jurisdiction the question whether such
    indemnification by it is against public policy as expressed in
    the Securities Act of 1933 and will be governed by the final
    adjudication of such issue.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;The undersigned Registrant hereby undertakes to file an
    application for the purpose of determining the eligibility of
    the Trustee to act under subsection&#160;(a) of Section&#160;310
    of the Trust&#160;Indenture Act of 1939, as amended, in
    accordance with the rules and regulations prescribed by the
    Securities and Exchange Commission under Section&#160;305(b)(2)
    of the Trust&#160;Indenture Act of 1939, as amended.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-3
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, the
    Registrant certifies that it has reasonable grounds to believe
    that it meets all of the requirements for filing on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    and has duly caused this Registration Statement to be signed on
    its behalf by the undersigned, thereunto duly authorized, in the
    City of Detroit, State of Michigan, on July&#160;12, 2011.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>AMERICAN AXLE&#160;&#038; MANUFACTURING, INC.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;MICHAEL
    K. SIMONTE</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Michael K. Simonte
</DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Executive Vice President&#160;&#151; Finance&#160;&#038; Chief
</DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Financial Officer
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each person whose signature appears below hereby constitutes and
    appoints Michael K. Simonte and Steven&#160;R. Keyes his or her
    true and lawful attorneys-in-fact and agents, with full power of
    substitution and resubstitution, for him or her and in his or
    her name, place and stead, in any and all capacitates, to sign
    any and all amendments (including post-effective amendments) and
    supplements to this Registration Statement, and to file the
    same, with all exhibits thereto, and other document in
    connection therewith, with the Securities and Exchange
    Commission, and hereby grants to such attorneys-in-fact and
    agents full power and authority to do and perform each and every
    act and thing requisite and necessary to be done, as fully to
    all intents and purposes as he or she might or could do in
    person, hereby ratifying and confirming all that said
    attorneys-in-fact and agents, or any of them, or their or his or
    her substitute, may lawfully do or cause to be done by virtue
    hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;RICHARD
    E. DAUCH</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Richard
    E. Dauch
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Co-Founder, Chairman of the Board&#160;&#038; Chief<BR>
    Executive Officer/Director (principal<BR>
    executive officer)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;MICHAEL
    K. SIMONTE</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Michael
    K. Simonte
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Executive Vice President&#160;&#151; Finance&#160;&#038; Chief
    Financial Officer (principal financial officer) (principal
    accounting officer)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;FOREST
    J. FARMER</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Forest
    J. Farmer
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;RICHARD
    C. LAPPIN</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Richard
    C. Lappin
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;THOMAS
    K. WALKER</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Thomas
    K. Walker
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, the
    Registrant certifies that it has reasonable grounds to believe
    that it meets all of the requirements for filing on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    and has duly caused this Registration Statement to be signed on
    its behalf by the undersigned, thereunto duly authorized, in the
    City of Detroit, State of Michigan, on July&#160;12, 2011.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>AMERICAN AXLE&#160;&#038; MANUFACTURING<BR>
    HOLDINGS, INC.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;MICHAEL
    K. SIMONTE</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Michael K. Simonte
</DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Executive Vice President&#160;&#151; Finance&#160;&#038; Chief
</DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Financial Officer
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each person whose signature appears below hereby constitutes and
    appoints Michael K. Simonte and Steven R. Keyes his or her true
    and lawful attorneys-in-fact and agents, with full power of
    substitution and resubstitution, for him or her and in his or
    her name, place and stead, in any and all capacitates, to sign
    any and all amendments (including post-effective amendments) and
    supplements to this Registration Statement, and to file the
    same, with all exhibits thereto, and other document in
    connection therewith, with the Securities and Exchange
    Commission, and hereby grants to such attorneys-in-fact and
    agents full power and authority to do and perform each and every
    act and thing requisite and necessary to be done, as fully to
    all intents and purposes as he or she might or could do in
    person, hereby ratifying and confirming all that said
    attorneys-in-fact and agents, or any of them, or their or his or
    her substitute, may lawfully do or cause to be done by virtue
    hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;RICHARD
    E. DAUCH</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Richard
    E. Dauch
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Co-Founder, Chairman of the Board&#160;&#038; Chief Executive
    Officer/Director (principal<BR>
    executive officer)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;MICHAEL
    K. SIMONTE</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Michael
    K. Simonte
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Executive Vice President&#160;&#151; Finance&#160;&#038; Chief
    Financial Officer (principal financial officer) (principal
    accounting officer)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;SALVATORE
    J. BONANNO, SR.</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Salvatore
    J. Bonanno, Sr.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;ELIZABETH
    A. CHAPPELL</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Elizabeth
    A. Chappell
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;DAVID
    C. DAUCH</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>David
    C. Dauch
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;FOREST
    J. FARMER</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Forest
    J. Farmer
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;RICHARD
    C. LAPPIN</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Richard
    C. Lappin
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;JAMES
    A. MCCASLIN</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>James
    A. McCaslin
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;WILLIAM
    P. MILLER II</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>William
    P. Miller II
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;LARRY
    K. SWITZER</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Larry
    K. Switzer
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;THOMAS
    K. WALKER</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Thomas
    K. Walker
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;DR.&#160;HENRY
    T. YANG</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Dr.&#160;Henry
    T. Yang
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, the
    Registrant certifies that it has reasonable grounds to believe
    that it meets all of the requirements for filing on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    and has duly caused this Registration Statement to be signed on
    its behalf by the undersigned, thereunto duly authorized, in the
    City of Detroit, State of Michigan, on July&#160;12, 2011.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>AAM INTERNATIONAL HOLDINGS, INC.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;SHANNON
    J. CURRY</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Shannon J. Curry
</DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Treasurer
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each person whose signature appears below hereby constitutes and
    appoints Michael K. Simonte and Shannon&#160;J. Curry his or her
    true and lawful attorneys-in-fact and agents, with full power of
    substitution and resubstitution, for him or her and in his or
    her name, place and stead, in any and all capacitates, to sign
    any and all amendments (including post-effective amendments) and
    supplements to this Registration Statement, and to file the
    same, with all exhibits thereto, and other document in
    connection therewith, with the Securities and Exchange
    Commission, and hereby grants to such attorneys-in-fact and
    agents full power and authority to do and perform each and every
    act and thing requisite and necessary to be done, as fully to
    all intents and purposes as he or she might or could do in
    person, hereby ratifying and confirming all that said
    attorneys-in-fact and agents, or any of them, or their or his or
    her substitute, may lawfully do or cause to be done by virtue
    hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;DAVID
    C. DAUCH</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>David
    C. Dauch
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chairman of the Board
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;JOHN
    J. BELLANTI</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>John
    J. Bellanti
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;MICHAEL
    K. SIMONTE</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Michael
    K. Simonte
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, the
    Registrant certifies that it has reasonable grounds to believe
    that it meets all of the requirements for filing on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    and has duly caused this Registration Statement to be signed on
    its behalf by the undersigned, thereunto duly authorized, in the
    City of Detroit, State of Michigan, on July 12, 2011.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>ACCUGEAR, INC.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;SHANNON
    J. CURRY</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Shannon J. Curry<BR>
    Treasurer
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each person whose signature appears below hereby constitutes and
    appoints Michael K. Simonte and Shannon&#160;J. Curry his or her
    true and lawful attorneys-in-fact and agents, with full power of
    substitution and resubstitution, for him or her and in his or
    her name, place and stead, in any and all capacitates, to sign
    any and all amendments (including post-effective amendments) and
    supplements to this Registration Statement, and to file the
    same, with all exhibits thereto, and other document in
    connection therewith, with the Securities and Exchange
    Commission, and hereby grants to such attorneys-in-fact and
    agents full power and authority to do and perform each and every
    act and thing requisite and necessary to be done, as fully to
    all intents and purposes as he or she might or could do in
    person, hereby ratifying and confirming all that said
    attorneys-in-fact and agents, or any of them, or their or his or
    her substitute, may lawfully do or cause to be done by virtue
    hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;JOHN
    J. BELLANTI</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>John
    J. Bellanti
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chairman of the Board
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;MICHAEL
    K. SIMONTE</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Michael
    K. Simonte
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;STEVEN
    R. KEYES</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Steven
    R. Keyes
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-8
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, the
    Registrant certifies that it has reasonable grounds to believe
    that it meets all of the requirements for filing on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    and has duly caused this Registration Statement to be signed on
    its behalf by the undersigned, thereunto duly authorized, in the
    City of Detroit, State of Michigan, on July 12, 2011.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>COLFOR MANUFACTURING, INC.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;SHANNON
    J. CURRY</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Shannon J. Curry<BR>
    Treasurer
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each person whose signature appears below hereby constitutes and
    appoints Michael K. Simonte and Shannon&#160;J. Curry his or her
    true and lawful attorneys-in-fact and agents, with full power of
    substitution and resubstitution, for him or her and in his or
    her name, place and stead, in any and all capacitates, to sign
    any and all amendments (including post-effective amendments) and
    supplements to this Registration Statement, and to file the
    same, with all exhibits thereto, and other document in
    connection therewith, with the Securities and Exchange
    Commission, and hereby grants to such attorneys-in-fact and
    agents full power and authority to do and perform each and every
    act and thing requisite and necessary to be done, as fully to
    all intents and purposes as he or she might or could do in
    person, hereby ratifying and confirming all that said
    attorneys-in-fact and agents, or any of them, or their or his or
    her substitute, may lawfully do or cause to be done by virtue
    hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;JOHN
    J. BELLANTI</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>John
    J. Bellanti
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chairman of the Board
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;MICHAEL
    K. SIMONTE</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Michael
    K. Simonte
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;STEVEN
    R. KEYES</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Steven
    R. Keyes
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-9
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, the
    Registrant certifies that it has reasonable grounds to believe
    that it meets all of the requirements for filing on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    and has duly caused this Registration Statement to be signed on
    its behalf by the undersigned, thereunto duly authorized, in the
    City of Detroit, State of Michigan, on July&#160;12, 2011.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>DIETRONIK, INC.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;SHANNON
    J. CURRY</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Shannon J. Curry<BR>
    Treasurer
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each person whose signature appears below hereby constitutes and
    appoints Michael K. Simonte and Shannon&#160;J. Curry his or her
    true and lawful attorneys-in-fact and agents, with full power of
    substitution and resubstitution, for him or her and in his or
    her name, place and stead, in any and all capacitates, to sign
    any and all amendments (including post-effective amendments) and
    supplements to this Registration Statement, and to file the
    same, with all exhibits thereto, and other document in
    connection therewith, with the Securities and Exchange
    Commission, and hereby grants to such attorneys-in-fact and
    agents full power and authority to do and perform each and every
    act and thing requisite and necessary to be done, as fully to
    all intents and purposes as he or she might or could do in
    person, hereby ratifying and confirming all that said
    attorneys-in-fact and agents, or any of them, or their or his or
    her substitute, may lawfully do or cause to be done by virtue
    hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;JOHN
    J. BELLANTI</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>John
    J. Bellanti
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chairman of the Board
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;MICHAEL
    K. SIMONTE</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Michael
    K. Simonte
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;STEVEN
    R. KEYES</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Steven
    R. Keyes
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-10
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, the
    Registrant certifies that it has reasonable grounds to believe
    that it meets all of the requirements for filing on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    and has duly caused this Registration Statement to be signed on
    its behalf by the undersigned, thereunto duly authorized, in the
    City of Detroit, State of Michigan, on July&#160;12, 2011.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>MSP INDUSTRIES CORPORATION</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;SHANNON
    J. CURRY</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Shannon J. Curry<BR>
    Treasurer
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each person whose signature appears below hereby constitutes and
    appoints Michael K. Simonte and Shannon&#160;J. Curry his or her
    true and lawful attorneys-in-fact and agents, with full power of
    substitution and resubstitution, for him or her and in his or
    her name, place and stead, in any and all capacitates, to sign
    any and all amendments (including post-effective amendments) and
    supplements to this Registration Statement, and to file the
    same, with all exhibits thereto, and other document in
    connection therewith, with the Securities and Exchange
    Commission, and hereby grants to such attorneys-in-fact and
    agents full power and authority to do and perform each and every
    act and thing requisite and necessary to be done, as fully to
    all intents and purposes as he or she might or could do in
    person, hereby ratifying and confirming all that said
    attorneys-in-fact and agents, or any of them, or their or his or
    her substitute, may lawfully do or cause to be done by virtue
    hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;JOHN
    J. BELLANTI</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>John
    J. Bellanti
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chairman of the Board
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;MICHAEL
    K. SIMONTE</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Michael
    K. Simonte
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;STEVEN
    R. KEYES</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Steven
    R. Keyes
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-11
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, the
    Registrant certifies that it has reasonable grounds to believe
    that it meets all of the requirements for filing on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    and has duly caused this Registration Statement to be signed on
    its behalf by the undersigned, thereunto duly authorized, in the
    City of Detroit, State of Michigan, on July&#160;12, 2011.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>OXFORD FORGE, INC.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;SHANNON
    J. CURRY</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Shannon J. Curry<BR>
    Treasurer
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each person whose signature appears below hereby constitutes and
    appoints Michael K. Simonte and Shannon&#160;J. Curry his or her
    true and lawful attorneys-in-fact and agents, with full power of
    substitution and resubstitution, for him or her and in his or
    her name, place and stead, in any and all capacitates, to sign
    any and all amendments (including post-effective amendments) and
    supplements to this Registration Statement, and to file the
    same, with all exhibits thereto, and other document in
    connection therewith, with the Securities and Exchange
    Commission, and hereby grants to such attorneys-in-fact and
    agents full power and authority to do and perform each and every
    act and thing requisite and necessary to be done, as fully to
    all intents and purposes as he or she might or could do in
    person, hereby ratifying and confirming all that said
    attorneys-in-fact and agents, or any of them, or their or his or
    her substitute, may lawfully do or cause to be done by virtue
    hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;JOHN
    J. BELLANTI</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>John
    J. Bellanti
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chairman of the Board
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;MICHAEL
    K. SIMONTE</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Michael
    K. Simonte
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;STEVEN
    R. KEYES</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Steven
    R. Keyes
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    July&#160;12, 2011
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-12
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#K50523tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;INDEX</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="92%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Exhibit</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    *1
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Debt Securities Underwriting Agreement
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    *1
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Equity Securities Underwriting Agreement
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    +3
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Amended and Restated Certificate of Incorporation of American
    Axle&#160;&#038; Manufacturing Holdings, Inc. (Incorporated by
    reference to Exhibit&#160;3.01 filed with American
    Axle&#160;&#038; Manufacturing Holdings, Inc. Registration
    Statement on
    <FONT style="white-space: nowrap">Form&#160;S-1</FONT>
    (Registration
    <FONT style="white-space: nowrap">No.&#160;333-53491))</FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    +3
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Bylaws of American Axle&#160;&#038; Manufacturing Holdings, Inc.
    (Incorporated by reference to Exhibit&#160;3.02 filed with
    American Axle&#160;&#038; Manufacturing Holdings, Inc.
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;S-1</FONT>
    (Registration
    <FONT style="white-space: nowrap">No.&#160;333-53491))</FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    +4
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Specimen Certificate for shares of American Axle&#160;&#038;
    Manufacturing Holdings, Inc.&#146;s Common Stock (Incorporated
    by reference to Exhibit&#160;4.01 filed with American
    Axle&#160;&#038; Manufacturing Holdings, Inc. Registration
    Statement on
    <FONT style="white-space: nowrap">Form&#160;S-1</FONT>
    (Registration
    <FONT style="white-space: nowrap">No.&#160;333-53491))</FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    *4
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Certificate of Designations of Preferred Stock
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Indenture, among American Axle&#160;&#038;
    Manufacturing, Inc., American Axle&#160;&#038; Manufacturing
    Holdings, Inc., as guarantor, certain subsidiary guarantors and
    U.S.&#160;Bank National Association, as trustee
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    *4
</TD>
<TD nowrap align="left" valign="top">
    .4
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Debt Securities
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    *4
</TD>
<TD nowrap align="left" valign="top">
    .5
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Warrant Agreement (including Form of Warrant)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    +4
</TD>
<TD nowrap align="left" valign="top">
    .6
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Amended and Restated Rights Agreement, dated as of
    October&#160;30, 2009, between American Axle&#160;&#038;
    Manufacturing Holdings, Inc. and Computershare Trust Company,
    N.A., as Rights Agent (Incorporated by reference to
    Exhibit&#160;4.01 of Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    dated November&#160;2, 2009)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    +4
</TD>
<TD nowrap align="left" valign="top">
    .7
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Second Amended and Restated Rights Agreement, dated as of
    February&#160;8, 2011, between American Axle&#160;&#038;
    Manufacturing Holdings, Inc. and Computershare Trust Company,
    N.A., as Rights Agent (Incorporated by reference to
    Exhibit&#160;4.01 of Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    dated February&#160;8, 2011)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Opinion of Shearman&#160;&#038; Sterling LLP as to legality of
    certain of the Securities
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Opinion of Richard G. Raymond, General Counsel of American
    Axle&#160;&#038; Manufacturing Holdings, Inc. and American
    Axle&#160;&#038; Manufacturing, Inc., as to the legality of the
    Subsidiary Guarantees
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    12
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Statement of computation of ratios of earnings to fixed charges
    of American Axle&#160;&#038; Manufacturing Holdings, Inc.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Deloitte&#160;&#038; Touche LLP, independent
    registered public accounting firm
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Shearman&#160;&#038; Sterling LLP (included in
    Exhibit&#160;5.1)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Richard G. Raymond (included in Exhibit&#160;5.2)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    24
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Power of Attorney (included in signature pages)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    25
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="white-space: nowrap">Form&#160;T-1</FONT>
    Statement of Eligibility under the Trust&#160;Indenture Act of
    1939 of U.S.&#160;Bank National Association, as Trustee for the
    Debt Securities
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    To be filed as an exhibit to a Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    in connection with a specific offering.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    + </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.3
<SEQUENCE>2
<FILENAME>k50523exv4w3.htm
<DESCRIPTION>EX-4.3
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;4.3</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV style="width: 100%; border-bottom: 3px double #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INDENTURE</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>among</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AMERICAN AXLE &#038; MANUFACTURING, INC.,<BR>
as Issuer</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AMERICAN AXLE &#038; MANUFACTURING HOLDINGS, INC.,<BR>
as Guarantor</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Certain Subsidiary Guarantors</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>and</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>U. S. Bank National Association,<BR>
as Trustee</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Dated as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2011
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Providing for the Issuance of Debt Securities in Series
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 3px double #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>






<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">AMERICAN AXLE &#038; MANUFACTURING, INC.
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Reconciliation and tie between Trust Indenture Act<BR>
of 1939 and Indenture, dated as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2011
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Trust Indenture</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Act Section</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Indenture Section</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Sec. 310(a)(1)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">607</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(a)(2)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">607</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(b)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">608</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Sec. 312(c)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">701</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Sec. 314(a)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">703</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(a)(4)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1004</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(c)(1)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">102</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(c)(2)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">102</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(e)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">102</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Sec. 315(b)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">601</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Sec. 316(a)(last
sentence)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">101 (&#147;Outstanding&#148;)</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(a)(1)(A)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">502, 512</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(a)(1)(B)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">513</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(b)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">508</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(c)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">104(c)</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Sec. 317(a)(1)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">503</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(a)(2)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">504</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">(b)</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1003</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Sec. 318(a)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">111</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>
<TR style="font-size: 10pt">
<td>&nbsp;</td>
</TR>


<TR valign="top">
    <TD colspan="3">Note: This reconciliation and tie shall not, for any purpose, be deemed to be a part of the
Indenture.</TD>
</TR>

</TABLE>








<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TABLE OF CONTENTS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="96%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2">Page</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PARTIES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RECITALS OF THE COMPANY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE ONE<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 101. Definitions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 102. Compliance Certificates and Opinions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 103. Form of Documents Delivered to Trustee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 104. Acts of Holders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 105. Notices, etc. to Trustee, Company, the Guarantor or Subsidiary Guarantors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 106. Notice to Holders; Waiver</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 107. Effect of Headings and Table of Contents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 108. Successors and Assigns</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 109. Separability Clause</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 110. Benefits of Indenture</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 111. Governing Law</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 112. Legal Holidays</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 113. No Recourse</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 114. Incorporation by Reference of Trust Indenture Act</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 115. Rules of Construction</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 116.
USA Patriot Act</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE TWO<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">SECURITY FORMS<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 201. Forms Generally</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 202. Form of Trustee&#146;s Certificate of Authentication</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 203. Securities Issuable in Global Form</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE THREE<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">THE SECURITIES<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 301. Amount Unlimited; Issuable in Series</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 302. Denominations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 303. Execution, Authentication, Delivery and Dating</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 304. Temporary Securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 305. Registration, Registration of Transfer and Exchange</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR style="font-size: 10pt">
<td>&nbsp;</td>
</TR>

<TR valign="top">
    <TD colspan="3">Note: This table of contents shall not, for
any purpose, be deemed to be a part of the Indenture.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="96%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2">Page</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 307. Payment of Interest; Interest Rights Preserved; Optional Interest Reset</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 308. Optional Extension of Maturity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 309. Persons Deemed Owners</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 310. Cancellation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 311. Computation of Interest</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 312. Currency and Manner of Payments in Respect of Securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 313. Appointment and Resignation of Successor Exchange Rate Agent</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE FOUR<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">SATISFACTION AND DISCHARGE<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 401. Satisfaction and Discharge of Indenture</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 402. Application of Trust Money</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE FIVE<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">REMEDIES<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 501. Events of Default</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 502. Acceleration of Maturity; Rescission and Annulment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">47</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 504. Trustee May File Proofs of Claim</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 505. Trustee May Enforce Claims Without Possession of Securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 506. Application of Money Collected</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 507. Limitation on Suits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and Interest</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 509. Restoration of Rights and Remedies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 510. Rights and Remedies Cumulative</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 511. Delay or Omission Not Waiver</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 512. Control by Holders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 513. Waiver of Past Defaults</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 514. Undertaking for Costs</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 515. Waiver of Stay or Extension Laws</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE SIX<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">THE TRUSTEE<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 601. Notice of Defaults</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 602. Certain Duties, Responsibilities and Rights of Trustee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 603. Trustee Not Responsible for Recitals or Issuance of Securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">56</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 604. May Hold Securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 605. Money Held in Trust</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 606. Compensation and Reimbursement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 607. Corporate Trustee Required; Eligibility; Conflicting Interests; Disqualification</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="96%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2">Page</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 608. Resignation and Removal; Appointment of Successor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 609. Acceptance of Appointment by Successor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 610. Merger, Conversion, Consolidation or Succession to Business</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 611. Appointment of Authenticating Agent</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE SEVEN<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">HOLDERS&#146; LISTS AND REPORTS BY TRUSTEE, COMPANY AND GUARANTOR<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 701. Disclosure of Names and Addresses of Holders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 702. Reports by Trustee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 703. Reports by Company</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE EIGHT<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 801. Company and Guarantor May Consolidate, etc., Only on Certain Terms</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 802. Successor Person Substituted</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE NINE<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">SUPPLEMENTAL INDENTURES<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 901. Supplemental Indentures Without Consent of Holders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 902. Supplemental Indentures with Consent of Holders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 903. Execution of Supplemental Indentures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 904. Effect of Supplemental Indentures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 905. Conformity with Trust Indenture Act</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 906. Reference in Securities to Supplemental Indentures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 907. Notice of Supplemental Indentures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 908. Effect on Senior Indebtedness</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE TEN<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">COVENANTS<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1001. Payment of Principal, Premium, if Any, and Interest</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1002. Maintenance of Office or Agency</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1003. Money for Securities Payments to Be Held in Trust</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1004. Statement by Officers as to Default</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">71</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1005. Existence</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">71</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1006. Limitation on Liens</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1007. Limitation on Sale and Leaseback Transactions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">73</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1008. SEC and Other Reports</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1009. Further Instruments and Acts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1010. Calculation of Original Issue Discount</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="96%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2">Page</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1011. Additional Amounts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1012. Waiver of Certain Covenants</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE ELEVEN<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">REDEMPTION OF SECURITIES<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1101. Applicability of Article</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">76</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1102. Election to Redeem; Notice to Trustee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">76</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1103. Selection by Trustee of Securities to Be Redeemed</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">76</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1104. Notice of Redemption</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">76</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1105. Deposit of Redemption Price</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1106. Securities Payable on Redemption Date</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1107. Securities Redeemed in Part</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">79</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE TWELVE<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">SINKING FUNDS<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1201. Applicability of Article</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">79</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1202. Satisfaction of Sinking Fund Payments with Securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">79</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1203. Redemption of Securities for Sinking Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">80</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE THIRTEEN<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">REPAYMENT AT OPTION OF HOLDERS<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1301. Applicability of Article</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1302. Repayment of Securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1303. Exercise of Option</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1304. When Securities Presented for Repayment Become Due and Payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1305. Securities Repaid in Part</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">83</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE FOURTEEN<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">DEFEASANCE AND COVENANT DEFEASANCE<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1401. Company&#146;s Option to Effect Defeasance or Covenant Defeasance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">83</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1402. Defeasance and Discharge</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">83</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1403. Covenant Defeasance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1404. Conditions to Defeasance or Covenant Defeasance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION
1405. Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">86</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1406. Reinstatement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">87</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="96%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2">Page</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE FIFTEEN<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">MEETINGS OF HOLDERS OF SECURITIES<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1501. Purposes for Which Meetings May Be Called</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">87</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1502. Call, Notice and Place of Meetings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">87</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1503. Persons Entitled to Vote at Meetings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">87</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1504. Quorum; Action</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">88</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1505. Determination of Voting Rights; Conduct and Adjournment of Meetings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">89</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1506. Counting Votes and Recording Action of Meetings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">90</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE SIXTEEN<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">GUARANTEE BY THE GUARANTOR<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1601. Guarantee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">90</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1602. Severability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">92</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1603. Priority of Guarantee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">92</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1604. Limitation of Guarantor&#146;s Liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">92</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1605. Subrogation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">92</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1606. Reinstatement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">92</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1607. Release of the Guarantor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">92</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1608. Benefits Acknowledged</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">93</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">ARTICLE SEVENTEEN<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center">GUARANTEE BY THE SUBSIDIARY GUARANTORS<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1701. Guarantee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">93</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1702. Severability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">94</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1703. Priority of Guarantee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">94</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1704. Limitation of Subsidiary Guarantor&#146;s Liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">95</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1705. Subrogation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">95</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1706. Reinstatement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">95</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1707. Release of the Subsidiary Guarantors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">95</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SECTION 1708. Benefits Acknowledged</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">96</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">EXHIBIT A FORMS OF CERTIFICATION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDENTURE, dated as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2011, among AMERICAN AXLE &#038; MANUFACTURING, INC., a Delaware
corporation (the &#147;Company&#148;), having its principal office at One Dauch Drive, Detroit, Michigan
48211-1198, AMERICAN AXLE &#038; MANUFACTURING HOLDINGS, INC., a Delaware corporation (the &#147;Guarantor&#148;
and &#147;Holdings&#148;), as Guarantor, AAM INTERNATIONAL HOLDINGS, INC, a Delaware corporation, ACCUGEAR,
INC., a Delaware corporation, COLFOR MANUFACTURING, INC. a Delaware corporation, DIETRONIK, INC., a
Delaware corporation, MSP INDUSTRIES CORPORATION, a Michigan corporation, and OXFORD FORGE, INC.,
a Delaware corporation (collectively, the &#147;Subsidiary Guarantors&#148;) and U.S. Bank National
Association, a national banking association, as Trustee (herein called the &#147;Trustee&#148;).
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">RECITALS OF THE COMPANY
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to
provide for the issuance from time to time of its unsecured senior or subordinated debentures,
notes or other evidences of indebtedness (herein called the &#147;Securities&#148;), which may be convertible
into or exchangeable for any securities of any person (including the Company), to be issued in one
or more series as in this Indenture provided; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Holdings desires with respect to Securities of certain series issued under this
Indenture to make the Guarantees provided for herein; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company and Holdings wish to permit certain Subsidiaries of the Company to make
the Guarantees permitted pursuant to Section&nbsp;301 and set forth in Section&nbsp;1701 with respect to
Securities of certain series issued under this Indenture;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, this Indenture is subject to the provisions of the Trust Indenture Act of 1939, as
amended, that are required to be part of this Indenture, and shall be governed by such provisions;
<U>provided</U> that if any provision of this Indenture modifies any TIA provision that may be so
modified, such TIA provision shall be deemed to apply to this Indenture as so modified;
<U>provided</U> <U>further</U> that if any provision of this Indenture excludes any TIA provision
that may be so excluded, such TIA provision shall be excluded from this Indenture; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, all things necessary to make this Indenture a valid agreement of the Company, in
accordance with its terms, have been done.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, THIS INDENTURE WITNESSETH:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 proportionate benefit of all
Holders of the Securities or of series thereof, as follows:
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE ONE
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 101. <U>Definitions</U>. &#147;Act&#148;, when used with respect to any Holder, has the
meaning specified in Section&nbsp;104.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Additional Amounts&#148; has the meaning specified in Section&nbsp;1011.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Adjusted Treasury Rate&#148; means, with respect to any date of redemption, the rate per annum
equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a
price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal
to the Comparable Treasury Price for that date of redemption.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Affiliate&#148; of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For
purposes of this definition, &#147;control,&#148; as used with respect to any Person, shall mean the
possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of such Person, whether through the ownership of voting securities, by agreement or
otherwise. For purposes of this definition, the terms &#147;controlling,&#148; &#147;controlled by&#148; and &#147;under
common control with&#148; shall have correlative meanings.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Attributable Debt&#148; means, when used in respect of any Sale and Leaseback Transaction, as of
the time of determination, the total obligation (discounted to present value at the rate per annum
equal to the discount rate which would be applicable to a capital lease obligation with like term
in accordance with GAAP) of the lessee for rental payments (other than amounts required to be paid
on account of property taxes, maintenance, repairs, insurance, water rates and other items which do
not constitute payments for property rights) during the remaining portion of the initial term of
the lease included in such Sale and Leaseback Transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Authenticating Agent&#148; means any Person appointed by the Trustee to act on behalf of the
Trustee pursuant to Section&nbsp;611 to authenticate Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Authorized Newspaper&#148; means a newspaper, in the English language or in an official language
of the country of publication, customarily published on each Business Day, whether or not published
on Saturdays, Sundays or holidays, and of general circulation in each place in connection with
which the term is used or in the financial community of each such place. Where successive
publications are required to be made in Authorized Newspapers, the successive publications may be
made in the same or in different newspapers in the same city meeting the foregoing requirements and
in each case on any Business Day.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Bankruptcy Law&#148; means Title 11, U.S. Code or any similar federal or state law for the relief
of debtors.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Bearer Security&#148; means any Security except a Registered Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Board of Directors&#148; means (i)&nbsp;with respect to a corporation, the board of directors of the
corporation; (ii)&nbsp;with respect to a partnership, the Board of Directors of the
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">general partner of the partnership; and (iii)&nbsp;with respect to any other Person, the board or
committee of such Person serving a similar function.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Board Resolution&#148; means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company, the Guarantor or a Subsidiary Guarantor, as the case may be, to have been
duly adopted by the Board of Directors and to be in full force and effect on the date of such
certification, and delivered to the Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Business Day&#148; means, when used with respect to any Place of Payment or any other particular
location referred to in this Indenture or in the Securities, unless otherwise specified with
respect to any Securities pursuant to Section&nbsp;301, each Monday, Tuesday, Wednesday, Thursday and
Friday which is not a day on which banking institutions in that Place of Payment or other location
are authorized or obligated by law or executive order to close.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Clearstream&#148; means Clearstream, soci&#233;t&#233; anonyme, or its successor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Commission&#148; or &#147;SEC&#148; means the Securities and Exchange Commission, as from time to time
constituted, created under the Securities Exchange Act of 1934, or, if at any time after the
execution of this Indenture such Commission is not existing and performing the duties now assigned
to it under the Trust Indenture Act, then the body performing such duties at such time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Common Depositary&#148; has the meaning specified in Section&nbsp;304.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Company&#148; means the Person named as the &#147;Company&#148; in the first paragraph of this Indenture
until a successor Person shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter &#147;Company&#148; shall mean such successor Person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Company Request&#148; or &#147;Company Order&#148; means a written request or order signed in the name of
the Company by one Officer of the Company and delivered to the Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Consolidated Current Liabilities&#148; means the aggregate of the current liabilities of Holdings
appearing on the most recent available consolidated balance sheet of Holdings, all in accordance
with GAAP. In no event shall Consolidated Current Liabilities include any obligation of Holdings
or its Subsidiaries issued under a revolving credit or similar agreement if the obligation issued
under such agreement matures by its terms within 12&nbsp;months from the date thereof but by the terms
of such agreement such obligation may be renewed or extended or the amount thereof reborrowed or
refunded at the option of Holdings, the Company or any Subsidiary for a term in excess of 12&nbsp;months
from the date of determination.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Consolidated Net Tangible Assets&#148; means Consolidated Tangible Assets after deduction of
Consolidated Current Liabilities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Consolidated Tangible Assets&#148; means the aggregate of all assets of Holdings (including the
value of all existing Sale and Leaseback Transactions and any assets resulting from the
capitalization of other long-term lease obligations in accordance with GAAP) appearing on the most
recent available consolidated balance sheet of Holdings at their net book values, after deducting
related depreciation, applicable allowances and other properly deductible items,
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">and after deducting all goodwill, trademarks, tradenames, patents, unamortized debt discount
and expenses and other like intangibles, all prepared in accordance with GAAP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Conversion Date&#148; has the meaning specified in Section&nbsp;312(d).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Conversion Event&#148; means the cessation of use of a Foreign Currency both by the government of
one or more countries or by any recognized union, association or confederation of governments that
issued such currency and by a central bank or other public institution of or within the
international banking community for the settlement of transactions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Corporate Trust Office of the Trustee&#148; means the principal corporate trust office of the
Trustee, at which at any particular time its corporate trust business shall be administered, which
office on the date of execution of this Indenture is located at 535
Griswold Street, Suite 550, Detroit, Michigan 48226, except that with respect to presentation of Securities for payment or for
registration of transfer or exchange, such term shall mean the office or agency of the Trustee at
which, at any particular time, its corporate agency business shall be conducted.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;corporation&#148; includes corporations, associations, companies and business or statutory trusts.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;coupon&#148; means any interest coupon appertaining to a Bearer Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Currency&#148; means any currency, composite currency or currency unit, including, without
limitation, the Euro, issued by the government of one or more countries or by any recognized union,
confederation or association of such governments.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Debt&#148; has the meaning set forth in Section&nbsp;1006.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Default&#148; means any event that is, or with the passage of time or the giving of notice or both
would be, an Event of Default.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Defaulted Interest&#148; has the meaning specified in Section&nbsp;307.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Depositary&#148; means, with respect to Registered Securities of any series, for which the Company
shall determine that such Registered Securities will be issued in permanent global form, The
Depository Trust Company, New York, New York, another clearing agency, or any successor registered
as a clearing agency under the Securities and Exchange Act of 1934, as amended (the &#147;Exchange
Act&#148;), or other applicable statute or regulations, which in each case, shall be designated by the
Company pursuant to Section&nbsp;301.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Dollar&#148; or &#147;$&#148; means a dollar or other equivalent unit in such coin or currency of the United
States of America as at the time shall be legal tender for the payment of public and private debts.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Dollar Equivalent of the Currency Unit&#148; has the meaning specified in Section&nbsp;312(g).
</DIV>





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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Dollar Equivalent of the Foreign Currency&#148; has the meaning specified in Section&nbsp;312(f).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Election Date&#148; has the meaning specified in Section&nbsp;312(h).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Euro&#148; means the basic unit of currency among participating European Union countries, as
revised or replaced from time to time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Euroclear&#148; means Euroclear Bank S.A./N.V. as operator of Euroclear System, and any successor
thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;European Union&#148; means the European Economic Community, the European Coal and Steel Community
and the European Atomic Energy Community, as may be modified from time to time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Event of Default&#148; has the meaning specified in Section&nbsp;501.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchange Date&#148; has the meaning specified in Section&nbsp;304.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchange Rate Agent&#148; means, with respect to Securities of or within any series, unless
otherwise specified with respect to any Securities pursuant to Section&nbsp;301, a New York Clearing
House bank, designated pursuant to Section&nbsp;301 or Section&nbsp;313.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchange Rate Officer&#146;s Certificate&#148; means a certificate setting forth (i)&nbsp;the applicable
Market Exchange Rate and (ii)&nbsp;the Dollar or Foreign Currency amounts of principal (and premium, if
any) and interest, if any (on an aggregate basis and on the basis of a Security having the lowest
denomination principal amount determined in accordance with Section&nbsp;302 in the relevant Currency),
payable with respect to a Security of any series on the basis of such Market Exchange Rate, signed
by the Treasurer or any Vice President of the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Extension Notice&#148; has the meaning specified in Section&nbsp;308.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Extension Period&#148; has the meaning specified in Section&nbsp;308.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Federal Bankruptcy Code&#148; means the Bankruptcy Act of Title 11 of the United States Code, as
amended from time to time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Foreign Currency&#148; means any Currency other than Currency of the United States.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Funded Debt&#148; means all Debt having a maturity of more than 12&nbsp;months from the date as of
which the determination is made or having a maturity of 12&nbsp;months or less but by its terms being
renewable or extendable beyond 12&nbsp;months from such date at the option of the borrower, but
excluding any such Debt owed to the Company, the Guarantor or a Subsidiary.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;GAAP&#148; 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
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Board or in such other statements by such other entity as have been approved by a significant
segment of the accounting profession which are in effect on the date of this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Government Obligations&#148; means, unless otherwise specified with respect to any series of
Securities pursuant to Section&nbsp;301, securities which are (i)&nbsp;direct obligations of the government
which issued the Currency in which the Securities of a particular series are payable or (ii)
obligations of a Person controlled or supervised by and acting as an agency or instrumentality of
the government which issued the Currency in which the Securities of such series are payable, the
payment of which is unconditionally guaranteed by such government, which, in either case, are full
faith and credit obligations of such government payable in such Currency and are not callable or
redeemable at the option of the issuer thereof and shall also include a depository receipt issued
by a bank or trust company as custodian with respect to any such Government Obligation or a
specific payment of interest on or principal of any such Government Obligation held by such
custodian for the account of the holder of a depository receipt; provided that (except as required
by law) such custodian is not authorized to make any deduction from the amount payable to the
holder of such depository receipt from any amount received by the custodian in respect of the
Government Obligation or the specific payment of interest or principal of the Government Obligation
evidenced by such depository receipt.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;guarantee&#148; means a guarantee (other than by endorsement of negotiable instruments for
collection in the ordinary course of business), direct or indirect, in any manner (including,
without limitation, letters of credit and reimbursement agreements in respect thereof), of all or
any part of any Indebtedness or other obligations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Guarantee&#148; means any guarantee of the Guarantor and, if applicable, any Subsidiary Guarantor,
endorsed on a Security authenticated and delivered pursuant to this Indenture and shall include the
Guarantees by the Guarantor set forth in Section&nbsp;1601 and any Guarantees of any Subsidiary
Guarantor established in accordance with Section&nbsp;301 and set forth in Section&nbsp;1701.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Guarantor&#148; means the Person named as the &#147;Guarantor&#148; in the first paragraph of this Indenture
until a successor Person shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter &#147;Guarantor&#148; shall mean such successor Person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Guarantor Obligations&#148; shall have the meaning provided in Section&nbsp;1601.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Guarantor Request&#148; or &#147;Guarantor Order&#148; means a written request or order signed in the name
of the Guarantor by one Officer of the Guarantor, and delivered to the Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Holder&#148; means, in the case of a Registered Security, the Person in whose name a Security is
registered in the Security Register and, in the case of a Bearer Security, the bearer thereof and,
when used with respect to any coupon, shall mean the bearer thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Holdings&#148; means American Axle &#038; Manufacturing Holdings, Inc., a Delaware Corporation.
</DIV>





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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Indebtedness&#148; means (1)&nbsp;any liability of any Person (a)&nbsp;for borrowed money, or (b)&nbsp;evidenced
by a bond, note, debenture or similar instrument (including purchase money obligations but
excluding Trade Payables), or (c)&nbsp;for the payment of money relating to a lease that is required to
be classified as a capitalized lease obligation in accordance with GAAP; (2)&nbsp;preferred or
preference stock of a Subsidiary of the Company held by Persons other than the Company or a
Subsidiary of the Company; (3)&nbsp;any liability of others described in the preceding clause (1)&nbsp;that
the Person has guaranteed, that is recourse to such Person or that is otherwise its legal
liability; and (4)&nbsp;any amendment, supplement, modification, deferral, renewal, extension or
refunding of any liability of the types referred to in clauses (1), (2)&nbsp;and (3)&nbsp;above.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Indenture&#148; means this instrument as originally executed and as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof, and shall include the terms of particular series of Securities
established as contemplated by Section&nbsp;301; <U>provided</U>, <U>however</U>, that, if at any time
more than one Person is acting as Trustee under this instrument, &#147;Indenture&#148; shall mean, with
respect to any one or more series of Securities for which such Person is Trustee, this instrument
as originally executed or as it may from time to time be supplemented or amended by one or more
indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall
include the terms of particular series of Securities for which such Person is Trustee established
as contemplated by Section&nbsp;301, exclusive, however, of any provisions or terms which relate solely
to other series of Securities for which such Person is not Trustee, regardless of when such terms
or provisions were adopted, and exclusive of any provisions or terms adopted by means of one or
more indentures supplemental hereto executed and delivered after such Person had become such
Trustee but to which such Person, as such Trustee, was not a party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Indexed Security&#148; means a Security the terms of which provide that the principal amount
thereof payable at the Stated Maturity may be more or less than the principal face amount thereof
at original issuance.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;interest&#148; means, when used with respect to an Original Issue Discount Security the rate
prescribed in such Original Issue Discount Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Interest Payment Date&#148; means, when used with respect to any Security, the Maturity of an
installment of interest on such Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Lien&#148; means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law, including any conditional sale or other title retention agreement,
any lease in the nature thereof, any option or other agreement to sell or give a security interest
in and any filing of or agreement to give any financing statement under the Uniform Commercial Code
(or equivalent statutes) of any jurisdiction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Market Exchange Rate&#148; means, unless otherwise specified with respect to any Securities
pursuant to Section&nbsp;301, (i)&nbsp;for any conversion involving a currency unit on the one hand and
Dollars or any Foreign Currency on the other, the exchange rate between the relevant currency unit
and Dollars or such Foreign Currency calculated by the method specified pursuant to Section&nbsp;301 for
the Securities of the relevant series, (ii)&nbsp;for any conversion of Dollars into any
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Foreign Currency, the noon (New York City time) buying rate for such Foreign Currency for
cable transfers quoted in New York City as certified for customs purposes by the Federal Reserve
Bank of New York and (iii)&nbsp;for any conversion of one Foreign Currency into Dollars or another
Foreign Currency, the spot rate at noon local time in the relevant market at which, in accordance
with normal banking procedures, the Dollars or Foreign Currency into which conversion is being made
could be purchased with the Foreign Currency from which conversion is being made from major banks
located in either New York City, London or any other principal market for Dollars or such purchased
Foreign Currency, in each case determined by the Exchange Rate Agent. Unless otherwise specified
with respect to any Securities pursuant to Section&nbsp;301, in the event of the unavailability of any
of the exchange rates provided for in the foregoing clauses (i), (ii)&nbsp;and (iii), the Exchange Rate
Agent shall use, in its sole discretion and without liability on its part, such quotation of the
Federal Reserve Bank of New York as of the most recent available date, or quotations from one or
more major banks in New York City, London or another principal market for the Currency in question,
or such other quotations as the Exchange Rate Agent shall deem appropriate. Unless otherwise
specified by the Exchange Rate Agent, if there is more than one market for dealing in any Currency
by reason of foreign exchange regulations or otherwise, the market to be used in respect of such
Currency shall be that upon which a non-resident issuer of securities designated in such Currency
would purchase such Currency in order to make payments in respect of such securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Maturity&#148; means, when used with respect to any Security, the date on which the principal of
such Security or any installment of principal becomes due and payable as therein or herein
provided, whether at the Stated Maturity or by declaration of acceleration, notice of redemption,
notice of option to elect repayment, notice of exchange or conversion, or otherwise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Mortgage&#148; means, with respect to any property or assets, any mortgage or deed of trust,
pledge, hypothecation, assignment, security interest, lien, encumbrance, or any other security
arrangement of any kind or nature whatsoever on or with respect to such property or assets
(including any conditional sale or other title retention agreement having substantially the same
economic effect as any of the foregoing).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Officer&#148; means, with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer,
any Assistant Treasurer, the Controller, the Secretary or any Vice-President of such Person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Officers&#146; Certificate&#148; means a certificate signed on behalf of the Company by two Officers of
the Company or the Guarantor, as the case may be, one of whom must be the principal executive
officer, the principal financial officer, the treasurer, or the principal accounting officer of the
Company, that meets the requirements of Section&nbsp;102 hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Operating Property&#148; means any real property or equipment located in the United States owned
by, or leased to, the Company, Holdings or any Subsidiary that has a market value in excess of 1.0%
of Consolidated Net Tangible Assets.
</DIV>





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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Opinion of Counsel&#148; means a written opinion of counsel, who may be counsel for the Company or
the Guarantor, as the case may be, including an employee of the Company or the Guarantor, and who
shall be acceptable to the Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Original Issue Discount Security&#148; means any Security which provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section&nbsp;502.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Outstanding&#148; means, when used with respect to Securities, as of the date of determination,
all Securities theretofore authenticated and delivered under this Indenture, except:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Securities theretofore cancelled by the Trustee or delivered to the Trustee for
cancellation;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Securities, or portions thereof, for whose payment or redemption or repayment at
the option of the Holder money in the necessary amount has been theretofore deposited with
the Trustee or any Paying Agent (other than the Company or the Guarantor) in trust or set
aside and segregated in trust by the Company or the Guarantor (if the Company or the
Guarantor, as the case may be, shall act as its own Paying Agent) for the Holders of such
Securities and any coupons appertaining thereto; provided that, if such Securities are to be
redeemed, notice of such redemption has been duly given pursuant to this Indenture or
provision therefor satisfactory to the Trustee has been made;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Securities, except to the extent provided in Sections&nbsp;1402 and 1403, with respect
to which the Company has effected defeasance and/or covenant defeasance as provided in
Article&nbsp;Fourteen; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Securities which have been paid pursuant to Section&nbsp;306 or in exchange for or in
lieu of which other Securities have been authenticated and delivered pursuant to this
Indenture, other than any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Securities are held by a bona
fide purchaser in whose hands such Securities are valid obligations of the Company;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>provided</U>, <U>however</U>, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder or are present at a meeting of Holders for quorum
purposes, and for the purpose of making the calculations required by TIA Section&nbsp;313, (i)&nbsp;the
principal amount of an Original Issue Discount Security that may be counted in making such
determination or calculation and that shall be deemed to be Outstanding for such purpose shall be
equal to the amount of principal thereof that would be (or shall have been declared to be) due and
payable, at the time of such determination, upon a declaration of acceleration of the Maturity
thereof pursuant to Section&nbsp;502, (ii)&nbsp;the principal amount of any Security denominated in a Foreign
Currency that may be counted in making such determination or calculation and that shall be deemed
Outstanding for such purpose shall be equal to the Dollar equivalent, determined as of the date
such Security is originally issued by the Company as set forth in an Exchange Rate Officer&#146;s
Certificate delivered to the Trustee, of the principal amount (or, in the case of an
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Original Issue Discount Security, the Dollar equivalent as of such date of original issuance of the
amount determined as provided in clause (i)&nbsp;above) of such Security, (iii)&nbsp;the principal amount of
any Indexed Security that may be counted in making such determination or calculation and that shall
be deemed outstanding for such purpose shall be equal to the principal face amount of such Indexed
Security at original issuance, unless otherwise provided with respect to such Security pursuant to
Section&nbsp;301, and (iv)&nbsp;Securities owned by the Company or any other obligor upon the Securities or
any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be protected in making such
calculation or in relying upon any such request, demand, authorization, direction, notice, consent
or waiver or upon any such determination as to the presence of a quorum, only Securities which a
Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded.
Securities so owned which have been pledged in good faith may be regarded as Outstanding if the
pledgee establishes to the satisfaction of the Trustee the pledgee&#146;s right so to act with respect
to such Securities and that the pledgee is not the Company or any other obligor upon the Securities
or any Affiliate of the Company or such other obligor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Paying Agent&#148; means any Person (including the Company or the Guarantor acting as Paying
Agent) authorized by the Company to pay the principal of (or premium, if any) or interest, if any,
on any Securities on behalf of the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Person&#148; means any individual, corporation, partnership, joint venture, trust, unincorporated
organization or government or any agency or political subdivision thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Place of Payment&#148; means, when used with respect to the Securities of or within any series,
the place or places (which, in the case of Bearer Securities, shall be outside the United States)
where the principal of (and premium, if any) and interest, if any, on such Securities are payable
as specified as contemplated by Sections&nbsp;301 and 1002.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Predecessor Security&#148; of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by such particular Security; and, for the purposes
of this definition, any Security authenticated and delivered under Section&nbsp;306 in exchange for or
in lieu of a mutilated, destroyed, lost or stolen Security or a Security to which a mutilated,
destroyed, lost or stolen coupon appertains shall be deemed to evidence the same debt as the
mutilated, destroyed, lost or stolen Security or the Security to which the mutilated, destroyed,
lost or stolen coupon appertains, as the case may be.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Redemption Date&#148;, when used with respect to any Security to be redeemed, in whole or in part,
means the date fixed for such redemption by or pursuant to this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Redemption Price&#148; means, when used with respect to any security to be redeemed, the price at
which it is to be redeemed pursuant to this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Registered Security&#148; means any Security registered in the Security Register.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Regular Record Date&#148; for the interest payable on any Interest Payment Date on the Registered
Securities of or within any series means the date specified for that purpose as contemplated by
Section&nbsp;301.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Repayment Date&#148; means, when used with respect to any Security to be repaid at the option of
the Holder, the date fixed for such repayment pursuant to this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Repayment Price&#148; means, when used with respect to any Security to be repaid at the option of
the Holder, the price at which it is to be repaid pursuant to this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Responsible Officer&#148; means, when used with respect to the Trustee, any officer of the Trustee
within the Corporate Trust Office of the Trustee (or any successor group of the Trustee) who has
direct responsibility for administration of this Indenture and, for purposes of Section&nbsp;601 or
subparagraph (3)(b) of the first paragraph of Section&nbsp;602 hereof, also includes any other officer
to whom such matter is referred because of such officer&#146;s knowledge of and familiarity with the
particular subject.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Restricted Subsidiary&#148; means any Subsidiary (excluding the Company) that owns Operating
Property.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Sale and Leaseback Transaction&#148; means any arrangement with any Person providing for the
leasing to the Company, the Guarantor or any Subsidiary of any Operating Property, which Operating
Property has been or is to be sold or transferred by the Company, Holdings or such Subsidiary to
such Person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Securities&#148; has the meaning stated in the first recital of this Indenture and more
particularly means any Securities authenticated and delivered under this Indenture;
<U>provided</U>, <U>however</U>, that if at any time there is more than one Person acting as
Trustee under this Indenture, &#147;Securities&#148; with respect to the Indenture as to which such Person is
Trustee shall have the meaning stated in the first recital of this Indenture and shall more
particularly mean Securities authenticated and delivered under this Indenture, exclusive, however,
of Securities of any series as to which such Person is not Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Security Register&#148; and &#147;Security Registrar&#148; have the respective meanings specified in Section
305.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Senior Indebtedness&#148; means the principal of (and premium, if any) and unpaid interest on (x)
indebtedness of the Company (including indebtedness of others guaranteed by the Company), whether
outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money
borrowed other than (a)&nbsp;any indebtedness of the Company which when incurred and without respect to
any election under Section 1111(b) of the Federal Bankruptcy Code, was without recourse to the
Company, (b)&nbsp;any Indebtedness of the Company to any of its subsidiaries, (c)&nbsp;Indebtedness to any
employee of the Company, (d)&nbsp;any liability for taxes and (e)&nbsp;Trade Payables, unless in the
instrument creating or evidencing the same or pursuant to which the same is outstanding it is
provided that such indebtedness is not senior or prior in right of payment to the Securities, and
(y)&nbsp;renewals, extensions, modifications and refundings of any such indebtedness. This definition
may be modified or superseded by a supplemental indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Significant Subsidiary&#148; means any Subsidiary that would constitute a &#147;significant subsidiary&#148;
within the meaning of Article&nbsp;1 of Regulation&nbsp;S-X of the Securities Act of 1933 as in effect on the
date of this Indenture.
</DIV>





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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Special Record Date&#148; for the payment of any Defaulted Interest on the Registered Securities
of or within any series means a date fixed by the Trustee pursuant to Section&nbsp;307.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Stated Maturity&#148; has the meaning specified in Section&nbsp;308.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Subsidiary&#148; means any corporation of which at least a majority of the outstanding stock
having by the terms thereof ordinary voting power for the election of directors of such corporation
(irrespective of whether or not at the time stock of any other class or classes of such corporation
shall have or might have voting power by reason of the happening of any contingency) is at the time
directly or indirectly owned by the Company, Holdings or by one or more other Subsidiaries, or by
the Company, Holdings and one or more other Subsidiaries.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Subsidiary Guarantor&#148; means with respect to the Securities of any series, any of AAM
International Holdings, Inc., AccuGear, Inc., Colfor Manufacturing, Inc., DieTronik, Inc., MSP
Industries Corporation, Oxford Forge, Inc. or such other Subsidiary as may from time to time
provide a Guarantee with respect to the Securities of a particular series pursuant to Section&nbsp;301
and as set forth in Section&nbsp;1701, until released from such Guarantee pursuant to the provisions of
this Indenture and the terms of such series of Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Subsidiary Guarantor Request&#148; or &#147;Subsidiary Guarantor Order&#148; means a written request or
order signed in the name of the Subsidiary Guarantor by one Officer of the Subsidiary Guarantor,
and delivered to the Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Trade Payables&#148; means accounts payable or any other Indebtedness or monetary obligations to
trade creditors created or assumed in the ordinary course of business in connection with the
obtaining of materials or services.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Trust Indenture Act&#148; or &#147;TIA&#148; means the Trust Indenture Act of 1939 as in force at the date
as of which this Indenture was executed, except as provided in Section&nbsp;905.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Trustee&#148; means the Person named as the &#147;Trustee&#148; in the first paragraph of this Indenture
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter &#147;Trustee&#148; shall mean or include each Person who is then a Trustee
hereunder; <U>provided</U>, <U>however</U>, that if at any time there is more than one such
Person, &#147;Trustee&#148; as used with respect to the Securities of any series shall mean only the Trustee
with respect to Securities of that series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;United States&#148; means, unless otherwise specified with respect to any Securities pursuant to
Section&nbsp;301, the United States of America (including the states and the District of Columbia), its
territories, its possessions and other areas subject to its jurisdiction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;United States person&#148; means, unless otherwise specified with respect to any Securities
pursuant to Section&nbsp;301, an individual who is a citizen or resident of the United States, a
corporation, partnership or other entity created or organized in or under the laws of the United
States or an estate or trust the income of which is subject to United States federal income
taxation regardless of its source.
</DIV>





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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Valuation Date&#148; has the meaning specified in Section&nbsp;312(c).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Vice President&#148;, when used with respect to the Company or the Trustee, means any vice
president, whether or not designated by a number or a word or words added before or after the title
&#147;vice president&#148;.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Voting Stock&#148; means stock of the class or classes having general voting power under ordinary
circumstances to elect at least a majority of the board of directors, managers or trustees of a
corporation (irrespective of whether or not at the time stock of any other class or classes shall
have or might have voting power by reason of the happening of any contingency).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Yield to Maturity&#148; means the yield to maturity, computed at the time of issuance of a
Security (or, if applicable, at the most recent redetermination of interest on such Security) and
as set forth in such Security in accordance with generally accepted United States bond yield
computation principles.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 102. <U>Compliance Certificates and Opinions</U>. Upon any application or request
by the Company or the Guarantor to the Trustee to take any action under any provision of this
Indenture, the Company or the Guarantor, as the case may be, shall furnish to the Trustee an
Officer&#146;s Certificate stating that all conditions precedent, if any, provided for in this Indenture
(including any covenant compliance with which constitutes a condition precedent) relating to the
proposed action have been complied with and an Opinion of Counsel stating that in the opinion of
such counsel all such conditions precedent, if any, have been complied with, except that in the
case of any such application or request as to which the furnishing of such documents is
specifically required by any provision of this Indenture relating to such particular application or
request, no additional certificate or opinion need be furnished.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every certificate or opinion with respect to compliance with a covenant or condition provided
for in this Indenture (other than pursuant to Section&nbsp;1004) shall include:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) a statement that each individual signing such certificate or opinion has read such
covenant or condition and the definitions herein relating thereto;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) a statement that, in the opinion of each such individual, he has made such
examination or investigation as is necessary to enable him to express an informed opinion as
to whether or not such covenant or condition has been complied with; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) a statement as to whether, in the opinion of each such individual, such covenant or
condition has been complied with.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 103. <U>Form of Documents Delivered to Trustee</U>. In any case where several
matters are required to be certified by, or covered by an opinion of, any specified Person, it is
not necessary that all such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one such Person
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">may certify or give an opinion with respect to some matters and one or more other such Persons
as to other matters, and any such Person may certify or give an opinion as to such matters in one
or several documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any certificate or opinion of an officer of the Company or the Guarantor may be based, insofar
as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel,
unless such officer knows, or in the exercise of reasonable care should know, that the certificate
or opinion or representations with respect to the matters upon which his certificate or opinion is
based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it
relates to factual matters, upon a certificate or opinion of, or representations by, an officer or
officers of the Company or the Guarantor, as the case may be, stating that the information with
respect to such factual matters is in the possession of the Company or the Guarantor, as the case
may be, unless such counsel knows, or in the exercise of reasonable care should know, that the
certificate or opinion or representations with respect to such matters are erroneous.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may,
but need not, be consolidated and form one instrument.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 104. <U>Acts of Holders</U>. Any request, demand, authorization, direction,
notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders
of the Outstanding Securities of all series or one or more series, as the case may be, may be
embodied in and evidenced by one or more instruments of substantially similar tenor signed by such
Holders in person or by agents duly appointed in writing. If Securities of a series are issuable
as Bearer Securities, any request, demand, authorization, direction, notice, consent, waiver or
other action provided by this Indenture to be given or taken by Holders of Securities of such
series may, alternatively, be embodied in and evidenced by the record of Holders of Securities of
such series voting in favor thereof, either in person or by proxies duly appointed in writing, at
any meeting of Holders of Securities of such series duly called and held in accordance with the
provisions of Article&nbsp;Fifteen, or a combination of such instruments and any such record. Except as
herein otherwise expressly provided, such action shall become effective when such instrument or
instruments or record or both are delivered to the Trustee and, where it is hereby expressly
required, to the Company or the Guarantor or to all of them. Such instrument or instruments and
any such record (and the action embodied therein and evidenced thereby) are herein sometimes
referred to as the &#147;Act&#148; of the Holders signing such instrument or instruments or so voting at any
such meeting. Proof of execution of any such instrument or of a writing appointing any such agent,
or of the holding by any Person of a Security, shall be sufficient for any purpose of this
Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in
this Section. The record of any meeting of Holders of Securities shall be proved in the manner
provided in Section&nbsp;1506.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by a certificate of a notary public or
other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">capacity, such certificate or affidavit shall also constitute sufficient proof of authority.
The fact and date of the execution of any such instrument or writing, or the authority of the
Person executing the same, may also be proved in any other manner that the Trustee deems
sufficient.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The principal amount and serial numbers of Registered Securities held by any Person, and
the date of holding the same, shall be proved by the Security Register.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The principal amount and serial numbers of Bearer Securities held by any Person, and the
date of holding the same, may be proved by the production of such Bearer Securities or by a
certificate executed, as depositary, by any trust company, bank, banker or other depositary,
wherever situated, if such certificate shall be deemed by the Trustee to be satisfactory, showing
that at the date therein mentioned such Person had on deposit with such depositary, or exhibited to
it, the Bearer Securities therein described; or such facts may be proved by the certificate or
affidavit of the Person holding such Bearer Securities, if such certificate or affidavit is deemed
by the Trustee to be satisfactory. The Trustee, the Company, the Guarantor and the Subsidiary
Guarantors, as the case may be, may assume that such ownership of any Bearer Security continues
until (1)&nbsp;another certificate or affidavit bearing a later date issued in respect of the same
Bearer Security is produced, or (2)&nbsp;such Bearer Security is produced to the Trustee by some other
Person, or (3)&nbsp;such Bearer Security is surrendered in exchange for a Registered Security, or (4)
such Bearer Security is no longer Outstanding. The principal amount and serial numbers of Bearer
Securities held by any Person, and the date of holding the same, may also be proved in any other
manner that the Trustee deems sufficient.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;If the Company or the Guarantor shall solicit from the Holders of Registered Securities
any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company or
the Guarantor, as the case may be, may, at its option, in or pursuant to a Board Resolution, fix in
advance a record date for the determination of Holders entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other Act, but the Company or the Guarantor,
as the case may be, shall have no obligation to do so. Notwithstanding TIA Section&nbsp;316(c), such
record date shall be the record date specified in or pursuant to such Board Resolution, which shall
be a date not earlier than the date 30&nbsp;days prior to the first solicitation of Holders generally in
connection therewith and not later than the date such solicitation is completed. If such a record
date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act
may be given before or after such record date, but only the Holders of record at the close of
business on such record date shall be deemed to be Holders for the purposes of determining whether
Holders of the requisite proportion of Outstanding Securities have authorized or agreed or
consented to such request, demand, authorization, direction, notice, consent, waiver or other Act,
and for that purpose the Outstanding Securities shall be computed as of such record date; provided
that no such authorization, agreement or consent by the Holders on such record date shall be deemed
effective unless it shall become effective pursuant to the provisions of this Indenture not later
than eleven months after the record date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Security shall bind every future Holder of the same Security and the Holder of every
Security issued upon the registration of transfer thereof or in exchange therefor or in lieu
thereof in respect of anything done, omitted or suffered to be done by the
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Trustee, any Security Registrar, any Paying Agent, any Authenticating Agent, or the Company,
the Guarantor or the Subsidiary Guarantors, as the case may be, in reliance thereon, whether or not
notation of such action is made upon such Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 105. <U>Notices, etc. to Trustee, Company, the Guarantor or Subsidiary
Guarantors</U>. Any request, demand, authorization, direction, notice, consent, waiver or Act of
Holders or other documents provided or permitted by this Indenture to be made upon, given or
furnished to, or filed with,
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Trustee by any Holder or by the Company, the Guarantor or any Subsidiary
Guarantor shall be sufficient for every purpose hereunder if made, given, furnished or filed
in writing to or with the Trustee at its Corporate Trust Office,
Attention: James Kowalski, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Company, the Guarantor or any Subsidiary Guarantor by the Trustee or by any
Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid or by overnight delivery
service, to the Company, the Guarantor or such Subsidiary Guarantor, as the case may be,
addressed to it at the address of the Company&#146;s principal office specified in the first
paragraph of this Indenture, to the attention of its General Counsel, or at any other
address previously furnished in writing to the Trustee by the Company, the Guarantor or such
Subsidiary Guarantor, as the case may be.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 106. <U>Notice to Holders; Waiver</U>. Except as otherwise expressly provided
herein or otherwise specified with respect to any series of Securities pursuant to Section&nbsp;301,
where this Indenture provides for notice of any event to Holders of Registered Securities by the
Company, the Guarantor or the Trustee, such notice shall be sufficiently given if in writing and
mailed, first-class postage prepaid, to each such Holder affected by such event, at his address as
it appears in the Security Register, not later than the latest date, and not earlier than the
earliest date, prescribed for the giving of such notice. In any case where notice to Holders of
Registered Securities is given by mail, neither the failure to mail such notice, nor any defect in
any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with
respect to other Holders of Registered Securities or the sufficiency of any notice to Holders of
Bearer Securities given as provided. Any notice mailed to a Holder in the manner herein prescribed
shall be conclusively deemed to have been received by such Holder, whether or not such Holder
actually receives such notice.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case, by reason of the suspension of or irregularities in regular mail service or by reason
of any other cause, it shall be impractical to mail notice of any event to Holders of Registered
Securities when such notice is required to be given pursuant to any provision of this Indenture,
then any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be
sufficient giving of such notice for every purpose hereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise expressly provided herein or otherwise specified with respect to any
Securities pursuant to Section&nbsp;301, where this Indenture provides for notice to Holders of Bearer
Securities of any event, such notice shall be sufficiently given to Holders of Bearer Securities if
published in an Authorized Newspaper in The City of New York and in such other
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">city or cities as may be specified in such Securities on a Business Day at least twice, the
first such publication to be not earlier than the earliest date, and not later than the latest
date, prescribed for the giving of such notice. Any such notice shall be deemed to have been given
on the date of such publication or, if published more than once, on the date of the first such
publication.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If by reason of the suspension of publication of any Authorized Newspaper or Authorized
Newspapers or by reason of any other cause, it shall be impracticable to publish any notice to
Holders of Bearer Securities as provided above, then such notification to Holders of Bearer
Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to
such Holders for every purpose hereunder. Neither the failure to give notice by publication to
Holders of Bearer Securities as provided above, nor any defect in any notice so published, shall
affect the sufficiency of such notice with respect to other Holders of Bearer Securities or the
sufficiency of any notice to Holders of Registered Securities given as provided herein.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any request, demand, authorization, direction, notice, consent or waiver required or permitted
under this Indenture shall be in the English language, except that any published notice may be in
an official language of the country of publication.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where this Indenture provides for notice in any manner, such notice may be waived in writing
by the Person entitled to receive such notice, either before or after the event, and such waiver
shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 107. <U>Effect of Headings and Table of Contents</U>. The Article and Section
headings herein and the Table of Contents are for convenience only and shall not affect the
construction hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 108. <U>Successors and Assigns</U>. All covenants and agreements in this Indenture
by the Company shall bind its successors and assigns, whether so expressed or not.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 109. <U>Separability Clause</U>. In case any provision in this Indenture or in any
Security, any Guarantee or coupon shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or
impaired thereby.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 110. <U>Benefits of Indenture</U>. Nothing in this Indenture or in the Securities,
the Guarantees or coupons, express or implied, shall give to any Person, other than the parties
hereto, any Authenticating Agent, any Paying Agent, any Securities Registrar and their successors
hereunder and the Holders of Securities or coupons, any benefit or any legal or equitable right,
remedy or claim under this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION
111. <U>Governing Law</U>. THIS INDENTURE AND THE SECURITIES AND ANY COUPONS SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. THIS INDENTURE IS
SUBJECT TO THE PROVISIONS OF THE TRUST INDENTURE ACT THAT ARE REQUIRED TO BE
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">PART OF THIS INDENTURE AND SHALL, TO THE EXTENT APPLICABLE, BE GOVERNED BY SUCH PROVISIONS.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 112. <U>Legal Holidays</U>. In any case where any Interest Payment Date,
Redemption Date, Repayment Date, sinking fund payment date or Stated Maturity or Maturity of any
Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or of any Security or coupon other than a provision in the Securities
of any series which specifically states that such provision shall apply in lieu of this Section),
payment of principal (or premium, if any) or interest, if any, need not be made at such Place of
Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment
with the same force and effect as if made on the Interest Payment Date, Redemption Date Repayment
Date, sinking fund payment date, or at the Stated Maturity or Maturity; provided that no interest
shall accrue on the amount so payable for the period from and after such Interest Payment Date,
Redemption Date, Repayment Date, sinking fund payment date, Stated Maturity or Maturity, as the
case may be.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 113. <U>No Recourse</U>. No recourse for the payment of the principal of or
premium, if any, or interest on any Security or any coupons appertaining thereto, or for any claim
based thereon or otherwise in respect thereof, and no recourse under or upon any obligation,
covenant or agreement of the Company in this Indenture or in any supplemental indenture, or in any
Security or any coupons appertaining thereto, or because of the creation of any indebtedness
represented thereby, shall be had against any director, officer, employee, or stockholder as such,
past, present or future, of the Company or any of its Affiliates or any successor Person of the
Company, either directly or through the Company or any of its Affiliates or any successor Person of
the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement
of any assessment or penalty or otherwise; it being expressly understood that all such liability is
hereby expressly waived and released as a condition of, and as a consideration for, the execution
of this Indenture and the issue of the Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 114. <U>Incorporation by Reference of Trust Indenture Act</U>. Whenever this
Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made
a part of this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following TIA terms used in this Indenture have the following meanings:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;indenture securities&#148; means the Securities;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;indenture security Holder&#148; means a Holder of a Security;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;indenture to be qualified&#148; means this Indenture;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;indenture trustee&#148; or &#147;institutional trustee&#148; means the Trustee; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(v)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;obligor&#148; on the Securities means the Company and if
applicable, the Guarantor and any Subsidiary Guarantor, in respect of the
Securities and any successor obligor upon the Securities.</TD>
</TR>

</TABLE>
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All other terms used in this Indenture that are defined by the TIA, defined by TIA reference
to another statute or defined by SEC rule under the TIA have the meanings so assigned to them.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 115. <U>Rules of Construction</U>. Unless the context otherwise requires:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(I)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a term has the meaning assigned to it;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(II)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an accounting term not otherwise defined has the meaning
assigned to it in accordance with GAAP;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(III)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;or&#148; is not exclusive;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(IV)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>words in the singular include the plural, and in the plural
include the singular; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(V)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>provisions apply to successive events and transactions.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION
116. <u>USA Patriot Act.</u> The parties hereto acknowledge that in
accordance with Section 326 of the USA Patriot Act the Trustee and the
Trust Officers, like all financial institutions and in order to help
fight the funding of terrorism and money laundering, are required to
obtain, verify, and record information that identifies each person or
legal entity that establishes a relationship or opens an account. The
parties to this agreement agree that they shall provide the Trustee
and the Trust Officers with such information as they may request in
order to satisfy the requirements of the USA Patriot Act.</div>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE TWO
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">SECURITY FORMS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 201. <U>Forms Generally</U>. The Registered Securities, if any, of each series and
the Bearer Securities, if any, of each series and related coupons the temporary global Securities
of each series, if any, and the permanent global Securities of each series, if any, and the
Guarantees, if any, to be endorsed thereon shall be in substantially the forms as shall be
established by, or pursuant to a Board Resolution or, subject to Section&nbsp;303, set forth in, or
determined in the manner provided in, an Officer&#146;s Certificate pursuant to a Board Resolution of
the Company or, in the case of the Guarantees, the Guarantor and any Subsidiary Guarantors or in
one or more indentures supplemental hereto, in each case with such appropriate insertions,
omissions, substitutions and other variations as are required or permitted by this Indenture, and
may have such letters, numbers or other marks of identification and such legends or endorsements
placed thereon as may be required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the officers of the Company, the Guarantor or the
Subsidiary Guarantors, as the case may be, executing such Securities or coupons, as evidenced by
their execution of the Securities or coupons. If the forms of Securities or coupons of any series
are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of
such action shall be certified by the Secretary or Assistant Secretary of the Company, and
delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section
303 for the authentication and delivery of such Securities or coupons. Any portion of the text of
any Security may be set forth on the reverse thereof, with an appropriate reference thereto on the
face of the Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified as contemplated by Section&nbsp;301, Securities in bearer form shall
have interest coupons attached.
</DIV>





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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee&#146;s certificate of authentication on all Securities shall be in substantially the
form set forth in this Article.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The definitive Securities and coupons, if any, including the Guarantees, if any, shall be
printed, lithographed or engraved on steel-engraved borders or may be produced in any other manner,
all as determined by the officers of the Company or the Guarantor, as the case may be, executing
such Securities, coupons or Guarantees, as evidenced by their execution of such Securities, coupons
or Guarantees.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 202. <U>Form of Trustee&#146;s Certificate of Authentication</U>. Subject to Section
611, the Trustee&#146;s certificate of authentication shall be in substantially the following form:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dated: &#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="42%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="21%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U. S. Bank National Association,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center">Authorized Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 203. <U>Securities Issuable in Global Form</U>. If Securities of or within a
series are issuable in global form, as specified as contemplated by Section&nbsp;301, then,
notwithstanding clause (8)&nbsp;of Section&nbsp;301, any such Security shall represent such of the
Outstanding Securities of such series as shall be specified therein and may provide that it shall
represent the aggregate amount of Outstanding Securities of such series from time to time endorsed
thereon and that the aggregate amount of Outstanding Securities of such series represented thereby
may from time to time be increased or decreased to reflect exchanges. Any endorsement of a
Security in global form to reflect the amount, or any increase or decrease in the amount, of
Outstanding Securities represented thereby shall be made by the Trustee in such manner and upon
instructions given by such Person or Persons as shall be specified therein or in the Company Order
to be delivered to the Trustee pursuant to Section&nbsp;303 or Section&nbsp;304. Subject to the provisions
of Section&nbsp;303 and, if applicable, Section&nbsp;304, the Trustee shall deliver and redeliver any
Security in permanent global form in the manner and upon instructions given by the Person or
Persons specified therein or in the applicable Company Order. If a Company Order pursuant to
Section&nbsp;303 or Section&nbsp;304 has been, or simultaneously is, delivered, any instructions by the
Company with respect to endorsement or delivery or redelivery of a Security in global form shall be
in writing but need not comply with Section&nbsp;102 and need not be accompanied by an Opinion of
Counsel.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of the last sentence of Section&nbsp;303 shall apply to any Security represented by
a Security in global form if such Security was never issued and sold by the
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Company and the Company delivers to the Trustee the Security in global form together with
written instructions (which need not comply with Section&nbsp;102 and need not be accompanied by an
Opinion of Counsel) with regard to the reduction in the principal amount of Securities represented
thereby, together with the written statement contemplated by the last sentence of Section&nbsp;303.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any provisions of Section&nbsp;307 to the contrary, unless otherwise specified as
contemplated by Section&nbsp;301, payment of principal of (and premium, if any) and interest, if any, on
any Security in permanent global form shall be made to the Person or Persons specified therein.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of Section&nbsp;309 and except as provided in the preceding
paragraph, the Company, the Guarantor and any Subsidiary Guarantor, if applicable, (if Guarantees
are issued) the Trustee and any agent of the Company, the Guarantor and any Subsidiary Guarantor,
if applicable (if Guarantees are issued), and the Trustee shall treat as the Holder of such
principal amount of Outstanding Securities represented by a permanent global Security (i), in the
case of a permanent global Security in registered form, the Holder of such permanent global
Security in registered form, or (ii)&nbsp;in the case of a permanent global Security in bearer form,
Euroclear or Clearstream.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE THREE
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">THE SECURITIES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 301. <U>Amount Unlimited; Issuable in Series</U>. The aggregate principal amount
of Securities which may be authenticated and delivered under this Indenture is unlimited.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities may be issued in one or more series. There shall be established in one or more
Board Resolutions or pursuant to authority granted by one or more Board Resolutions and, subject to
Section&nbsp;303, set forth in, or determined in the manner provided in, an Officer&#146;s Certificate, or
established in one or more indentures supplemental hereto, prior to the issuance of Securities of
any series, any or all of the following, as applicable (each of which (except for the matters set
forth in clauses (1), (2)&nbsp;and (17)&nbsp;below), if so provided, may be determined from time to time by
the Company with respect to unissued Securities of the series and set forth in such Securities of
the series when issued from time to time):
</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) title of the Securities of the series (which shall distinguish the Securities of
the series from all other series of Securities) and whether such Securities are senior or
subordinated;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) any limit upon the aggregate principal amount of the Securities of the series that
may be authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to Section&nbsp;304, 305, 306, 906, 1107 or 1305 and except for
any Securities which, pursuant to Section&nbsp;303, are deemed never to have been authenticated
and delivered hereunder);
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the date or dates, or the method by which such date or dates will be determined or
extended, on which the principal of the Securities of the series is payable;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the rate or rates at which the Securities of the series shall bear interest, if
any, or the method by which such rate or rates shall be determined, the date or dates from
which any such interest shall accrue, or the method by which such date or dates shall be
determined, the Interest Payment Dates on which such interest shall be payable, the right,
if any, of the Company to defer or extend an Interest Payment Date, and the Regular Record
Date, if any, for the interest payable on any Registered Security on any Interest Payment
Date, or the method by which such date or dates shall be determined, and the basis upon
which interest shall be calculated if other than on the basis of a 360-day year of twelve
30-day months;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) the place or places, if any, other than or in addition to the Borough of Manhattan,
The City of New York, where the principal of (and premium, if any) and interest, if any, on
Securities of the series shall be payable (which in the case of Bearer Securities shall be
outside the United States), where any Registered Securities of the series may be surrendered
for registration of transfer, where Securities of the series may be surrendered for
exchange, where Securities of the series that are convertible or exchangeable may be
surrendered for conversion or exchange, as applicable and, if different than the location
specified in Section&nbsp;106, the place or places where notices or demands to or upon the
Company or, if applicable, the Guarantor in respect of the Securities of the series and this
Indenture may be served;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the period or periods within which, the price or prices at which, the Currency in
which, and other terms and conditions upon which Securities of the series may be redeemed,
in whole or in part, at the option of the Company or a Holder thereof, if the Company or
such Holder is to have that option;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) the obligation or right, if any, of the Company to redeem, repay or purchase
Securities of the series pursuant to any sinking fund or analogous provision or at the
option of a Holder thereof, and the period or periods within which or the date or dates on
which, the price or prices at which, the Currency in which, and other terms and conditions
upon which Securities of the series shall be redeemed, repaid or purchased, in whole or in
part, pursuant to such obligation;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) if other than denominations of $1,000 and any integral multiple thereof, the
denomination or denominations in which any Registered Securities of the series shall be
issuable and, if other than denominations of $5,000, the denomination or denominations in
which any Bearer Securities of the series shall be issuable;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) if other than the Trustee, the identity of each Security Registrar and/or Paying
Agent;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) if other than the principal amount thereof, the portion of the principal amount of
Securities of the series that shall be payable upon declaration of acceleration of the
Maturity thereof pursuant to Section&nbsp;502, upon redemption of the Securities of the
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">series which are redeemable before their Stated Maturity, upon surrender for repayment
at the option of the Holder, or which the Trustee shall be entitled to claim pursuant to
Section&nbsp;504 or the method by which such portion shall be determined;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) if other than Dollars, the Currency or Currencies in which payment of the
principal of (or premium, if any) or interest, if any, on the Securities of the series shall
be made or in which the Securities of the series shall be denominated and the particular
provisions applicable thereto in accordance with, in addition to or in lieu of any of the
provisions of Section&nbsp;312;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) whether the amount of payments of principal of (or premium, if any) or interest,
if any, on the Securities of the series may be determined with reference to an index,
formula or other method (which index, formula or method may be based, without limitation, on
one or more Currencies, commodities, equity indices or other indices), and the manner in
which such amounts shall be determined;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) whether the principal of (or premium, if any) or interest, if any, on the
Securities of the series are to be payable, at the election of the Company or a Holder
thereof, in a Currency other than that in which such Securities are denominated or stated to
be payable, the period or periods within which (including the Election Date), and the terms
and conditions upon which, such election may be made, and the time and manner of determining
the exchange rate between the Currency in which such Securities are denominated or stated to
be payable and the Currency in which such Securities are to be so payable, in each case in
accordance with, in addition to or in lieu of any of the provisions of Section&nbsp;312;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) the designation of the initial Exchange Rate Agent, if any, or any depositaries;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) if Sections&nbsp;1402 and/or 1403 are not applicable to the Securities of the series
and any provisions in modification of, in addition to or in lieu of any of the provisions of
Article&nbsp;Fourteen that shall be applicable to the Securities of the series;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) provisions, if any, granting special rights to the Holders of Securities of the
series upon the occurrence of such events as may be specified;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) any deletions from, modifications of or additions to the Events of Default or
covenants of the Company or, if applicable, the Guarantor 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 set forth herein;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) if Securities of the series are not to be issuable solely as
Registered Securities, whether Securities of the series are to be issuable as Bearer Securities (with or without coupons) or both Registered
Securities and Bearer Securities, any restrictions applicable to the
offer, sale or delivery of Bearer Securities, whether such Securities of any 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 of any authorized form and
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">denomination and the circumstances under which any such exchanges may occur, if other
than in the manner provided in Section&nbsp;305, whether Registered Securities of the series may
be exchanged for Bearer Securities of the series (if permitted by applicable laws and
regulations), and the circumstances under which and the place or places where any such
exchanges may be made and if Securities of the series are to be issuable in global form, the
identity of any initial depository therefor;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) the date as of which any Bearer Securities of the series and any temporary global
Security representing Outstanding Securities shall be dated if other than the date of
original issuance of the first Security of the series to be issued;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) 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 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 Section&nbsp;304; and the extent to
which, or the manner in which any interest payable on a permanent global Security on an
Interest Payment Date will be paid if other than in the manner provided in Section&nbsp;307;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) if Securities of the 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;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) if the Securities of the series are to be issued upon the exercise of warrants,
the time, manner and place for such Securities to be authenticated and delivered;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) whether, under what circumstances and the Currency in which the Company will pay
Additional Amounts as contemplated by Section&nbsp;1011 on the Securities of the series to any
Holder who is not a United States person (including any modification to the definition of
such term) in respect of any tax, assessment or governmental charge and, if so, whether the
Company will have the option to redeem such Securities rather than pay such Additional
Amounts (and the terms of any such option);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24) if the Securities of the series are to be convertible into or exchangeable for any
securities of any Person (including the Company), the terms and conditions upon which such
Securities will be so convertible or exchangeable;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) whether the Securities of the series are subject to subordination and, if so, the
terms of such subordination; and
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26) if Securities of the series are not to be guaranteed by the Guarantor and any
modification of the terms of the Guarantees as set forth in Article&nbsp;Sixteen;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27)
if Securities of the series are guaranteed by any Subsidiary
Guarantors and any deletions from, modifications to or additions to
Article Seventeen, the Events of Default or covenants with respect to such
Subsidiary Guarantors with respect to Securities of the series,
whether or not such changes are consistent with Article Seventeen, the
Events of Default or covenants set forth herein; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28) any other terms, conditions, rights and preferences (or limitations on such rights
and preferences) relating to the series (which terms shall not be inconsistent with the
requirements of the Trust Indenture Act or the provisions of this Indenture).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All Securities of any one series and the coupons appertaining to any Bearer Securities of such
series shall be substantially identical except, in the case of Registered Securities, as to
denomination and except as may otherwise be provided in or pursuant to such Board Resolution or
pursuant to authority granted by one or more Board Resolutions (subject to Section&nbsp;303) and set
forth in such Officer&#146;s Certificate or in any such indenture supplemental hereto. Not all
Securities of any one series need be issued at the same time, and, unless otherwise provided, a
series may be reopened, without the consent of the Holders, for issuances of additional Securities
of such series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any of the terms of the Securities of any series are established by action taken pursuant
to one or more Board Resolutions or pursuant to authority granted by one or more Board Resolutions,
such Board Resolutions shall be delivered to the Trustee at or prior to the issuance of the first
Security of such series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 302. <U>Denominations</U>. The Securities of each series shall be issuable in such
denominations as shall be specified as contemplated by Section&nbsp;301. With respect to Securities of
any series denominated in Dollars, in the absence of any such provisions with respect to the
Securities of such series, the Registered Securities of such series, other than Registered
Securities issued in global form (which may be of any denomination), shall be issuable in
denominations of $1,000 and any integral multiple thereof and the Bearer Securities of such series,
other than the Bearer Securities issued in global form (which may be of any denomination), shall be
issuable in the denomination of $5,000.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 303. <U>Execution, Authentication, Delivery and Dating</U>. The Securities and any
coupons appertaining thereto shall be executed on behalf of the Company by its Chairman, its
President or a Vice President, under its corporate seal affixed thereto or reproduced thereon
attested by its Secretary or an Assistant Secretary. The signature of any of these officers on the
Securities or coupons may be the manual or facsimile signatures of the present or any future such
authorized officer and may be imprinted or otherwise reproduced on the Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities or coupons bearing the manual or facsimile signatures of individuals who were at
any time the proper officers of the Company shall bind the Company, notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the authentication and
delivery of such Securities or did not hold such offices at the date of such Securities or coupons.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series together with any coupons
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">appertaining thereto, executed by the Company and (if Securities of such series were specified
as contemplated by Section&nbsp;301 to be guaranteed by the Guarantor and any Subsidiary Guarantor)
having endorsed thereon Guarantees duly executed by the Guarantor and any Subsidiary Guarantor, as
applicable, to the Trustee for authentication, together with a Company Order for the authentication
and delivery of such Securities, and the Trustee in accordance with such Company Order shall
authenticate and deliver such Securities; <U>provided</U>, <U>however</U>, that, in connection
with its original issuance, no Bearer Security shall be mailed or otherwise delivered to any
location in the United States; and <U>provided</U> <U>further</U> that, unless otherwise
specified with respect to any series of Securities pursuant to Section&nbsp;301, a Bearer Security may
be delivered in connection with its original issuance only if the Person entitled to receive such
Bearer Security shall have furnished a certificate in the form set forth in Exhibit&nbsp;A-1 to this
Indenture, dated no earlier than 15&nbsp;days prior to the earlier of the date on which such Bearer
Security is delivered and the date on which any temporary Security first becomes exchangeable for
such Bearer Security in accordance with the terms of such temporary Security and this Indenture.
If any Security shall be represented by a permanent global Bearer Security, then, for purposes of
this Section and Section&nbsp;304, the notation of a beneficial owner&#146;s interest therein upon original
issuance of such Security or upon exchange of a portion of a temporary global Security shall be
deemed to be delivery in connection with its original issuance of such beneficial owner&#146;s interest
in such permanent global Security. Except as permitted by Section&nbsp;306, the Trustee shall not
authenticate and deliver any Bearer Security unless all appurtenant coupons for interest then
matured have been detached and cancelled. If not all the Securities of any series are to be issued
at one time and if the Board Resolution, Officer&#146;s Certificate pursuant to a Board Resolution, or
supplemental indenture establishing such series shall so permit, such Company Order may set forth
procedures acceptable to the Trustee for the issuance of such Securities and determining terms of
particular Securities of such series such as interest rate, maturity, date of issuance and date
from which interest shall accrue.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In authenticating such Securities, and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall be entitled to receive, and shall be
fully protected in relying upon, an Opinion of Counsel stating in effect (subject to customary
exceptions):
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) that the form or forms of such Securities and any such Guarantees to be endorsed
thereon and any coupons have been established in conformity with the provisions of this
Indenture;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that the terms of such Securities and any coupons have been established in
conformity with the provisions of this Indenture;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) that such Securities, together with any Guarantees endorsed thereon and any coupons
appertaining thereto, when completed by appropriate insertions and executed and delivered by
the Company to the Trustee for authentication in accordance with this Indenture,
authenticated and delivered by the Trustee in accordance with this Indenture and issued by
the Company in the manner and subject to any conditions specified in such Opinion of
Counsel, will be the legal, valid and binding obligations of the Company, the Guarantor, and
each of the Subsidiary Guarantors, as applicable, respectively, enforceable in accordance
with their terms, subject to the effect of any
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws
affecting creditors&#146; rights generally (including without limitation on all laws relating to
fraudulent transfers), to general principles of equity;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) that all laws and requirements in respect of the execution and delivery by the
Company, the Guarantor and the Subsidiary Guarantors, as applicable, of such Securities,
Guarantees, any coupons and of the supplemental indentures, if any, have been complied with
and that authentication and delivery of such Securities and any coupons and the execution
and delivery of the supplemental indenture, if any, by the Trustee will not violate the
terms of the Indenture;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) that the Company has the corporate power to issue such Securities and any coupons,
and has duly taken all necessary corporate action with respect to such issuance;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) that the Guarantor and the Subsidiary Guarantors, as applicable, have the corporate
power to issue such Guarantees, and have taken all necessary corporate action with respect
to such issuance; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) that the issuance of such Securities, Guarantees and any coupons will not
contravene the articles of incorporation or by-laws of the Company, the Guarantor or
Subsidiary Guarantors, as applicable, or result in any violation of any of the terms or
provisions of any law or regulation or of any indenture, mortgage or other agreement known
to such Counsel by which the Company, the Guarantor or the Subsidiary Guarantors, as
applicable, are bound.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of Section&nbsp;301 and of the preceding two paragraphs, if not all
the Securities of any series are to be issued at one time, it shall not be necessary to deliver the
Officer&#146;s Certificate otherwise required pursuant to Section&nbsp;301 or the Company Order and Opinion
of Counsel otherwise required pursuant to the preceding two paragraphs prior to or at the time of
issuance of each Security, but such documents shall be delivered prior to or at the time of
issuance of the first Security of such series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee shall not be required to authenticate and deliver any such Securities if the issue
of such Securities pursuant to this Indenture will affect the Trustee&#146;s own rights, duties or
immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably
acceptable to the Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Registered Security shall be dated the date of its authentication and each Bearer
Security shall be dated as of the date specified as contemplated by Section&nbsp;301.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Security, no Guarantee endorsed thereon or coupon shall be entitled to any benefit under
this Indenture or be valid or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein duly executed by the
Trustee by manual signature of an authorized officer, and such certificate upon any Security shall
be conclusive evidence, and the only evidence, that such Security has been duly authenticated and
delivered hereunder and is entitled to the benefits of this Indenture. The delivery of any
Security by the Trustee after the authentication thereof shall constitute due
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">delivery of any Guarantee endorsed thereon on behalf of the Guarantor and the Subsidiary
Guarantors, as applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, if any Security shall have been authenticated and delivered
hereunder but never issued and sold by the Company, and the Company shall deliver such Security to
the Trustee for cancellation as provided in Section&nbsp;310 together with a written statement (which
need not comply with Section&nbsp;102 and need not be accompanied by an Opinion of Counsel) stating that
such Security has never been issued and sold by the Company, for all purposes of this Indenture
such Security shall be deemed never to have been authenticated and delivered hereunder and shall
never be entitled to the benefits of this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 304. <U>Temporary Securities</U>. Pending the preparation of definitive Securities
of any series, the Company may execute, and upon Company Order the Trustee shall authenticate and
deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or
otherwise produced, in any authorized denomination, substantially of the tenor of the definitive
Securities in lieu of which they are issued and, if applicable, having endorsed thereon Guarantees
duly executed by the Guarantor and the Subsidiary Guarantors, as applicable, substantially of the
tenor of the definitive Guarantees, in registered form or, if authorized, in bearer form with one
or more coupons or without coupons, and with such appropriate insertions, omissions, substitutions
and other variations as conclusively the officers executing such Securities, Guarantees or coupons
may determine, as conclusively evidenced by their execution of such Securities, Guarantees or
coupons, as the case may be. Such temporary Securities may be in global form.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except in the case of temporary Securities in global form (which shall be exchanged in
accordance with the provisions of the following paragraphs), if temporary Securities of any series
are issued, the Company will cause definitive Securities of that series to be prepared without
unreasonable delay. After the preparation of definitive Securities of such series, the temporary
Securities of such series shall be exchangeable for definitive Securities of such series upon
surrender of the temporary Securities of such series at the office or agency of the Company in a
Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of
any one or more temporary Securities of any series (accompanied by any unmatured coupons
appertaining thereto), the Company shall execute and the Trustee shall authenticate and deliver in
exchange therefor a like principal amount of definitive Securities of the same series and of like
tenor of authorized denominations having, if applicable, endorsed thereon Guarantees duly executed
by the Guarantor and the Subsidiary Guarantors, as applicable;
<u>provided</u>, <u>however</u>, that no
definitive Bearer Security shall be delivered in exchange for a temporary Registered Security; and
<U>provided</U> <U>further</U> that a definitive Bearer Security shall be delivered in exchange
for a temporary Bearer Security only in compliance with the conditions set forth in Section&nbsp;303.
Until so exchanged the temporary Securities of any series shall in all respects be entitled to the
same benefits under this Indenture as definitive Securities of such series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If temporary Securities of any series are issued in global form, any such temporary global
Security shall, unless otherwise provided therein, be delivered to the London office of a
depositary or common depositary (the &#147;Common Depositary&#148;), for the benefit of
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Euroclear and Clearstream, for credit to the respective accounts of the beneficial owners of
such Securities (or to such other accounts as they may direct).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without unnecessary delay but in any event not later than the date specified in, or determined
pursuant to the terms of, any such temporary global Security (the &#147;Exchange Date&#148;), the Company
shall deliver to the Trustee definitive Securities, in aggregate principal amount equal to the
principal amount of such temporary global Security and having, if applicable, endorsed thereon
Guarantees duly executed by the Guarantor and the Subsidiary Guarantors, as applicable, executed by
the Company. On or after the Exchange Date such temporary global Security shall be surrendered by
the Common Depositary to the Trustee, as the Company&#146;s agent for such purpose, to be exchanged, in
whole or from time to time in part, for definitive Securities without charge and the Trustee shall
authenticate and deliver, in exchange for each portion of such temporary global Security, an equal
aggregate principal amount of definitive Securities of the same series of authorized denominations
and of like tenor as the portion of such temporary global Security to be exchanged and, if
applicable, having endorsed thereon Guarantees duly executed by the Guarantor and the Subsidiary
Guarantors, as applicable. The definitive Securities to be delivered in exchange for any such
temporary global Security shall be in bearer form, registered form, permanent global bearer form or
permanent global registered form, or any combination thereof, as specified as contemplated by
Section&nbsp;301, and, if any combination thereof is so specified, as requested by the beneficial owner
thereof; <u>provided</u>, <u>however</u>, that, unless otherwise specified in such temporary global Security,
upon such presentation by the Common Depositary, such temporary global Security is accompanied by a
certificate dated the Exchange Date or a subsequent date and signed by Euroclear as to the portion
of such temporary global Security held for its account then to be exchanged and a certificate dated
the Exchange Date or a subsequent date and signed by Clearstream as to the portion of such
temporary global Security held for its account then to be exchanged, each in the form set forth in
Exhibit&nbsp;A-2 to this Indenture (or in such other form as may be established pursuant to Section
301); and <U>provided</U> <U>further</U> that definitive Bearer Securities shall be delivered in
exchange for a portion of a temporary global Security only in compliance with the requirements of
Section&nbsp;303.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified in such temporary global Security, the interest of a beneficial
owner of Securities of a series in a temporary global Security shall be exchanged for definitive
Securities of the same series and of like tenor and, if applicable, having endorsed thereon
Guarantees duly executed by the Guarantor and the Subsidiary Guarantors, as applicable following
the Exchange Date when the account holder instructs Euroclear or Clearstream, as the case may be,
to request such exchange on his behalf and delivers to Euroclear or Clearstream, as the case may
be, a certificate in the form set forth in Exhibit&nbsp;A-1 to this Indenture (or in such other form as
may be established pursuant to Section&nbsp;301), dated no earlier than 15&nbsp;days prior to the Exchange
Date, copies of which certificate shall be available from the offices of Euroclear and Clearstream,
the Trustee, any Authenticating Agent appointed for such series of Securities and each Paying
Agent. Unless otherwise specified in such temporary global Security, any such exchange shall be
made free of charge to the beneficial owners of such temporary global Security, except that a
Person receiving definitive Securities must bear the cost of insurance, postage, transportation and
the like in the event that such Person does not take delivery of such definitive Securities in
person at the offices of Euroclear or Clearstream. Definitive Securities in bearer form to be
delivered in exchange for any portion of a temporary global Security shall be delivered only
outside the United States.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until exchanged in full as hereinabove provided, the temporary Securities of any series shall
in all respects be entitled to the same benefits under this Indenture as definitive Securities of
the same series and of like tenor authenticated and delivered hereunder, except that, unless
otherwise specified as contemplated by Section&nbsp;301, interest payable on a temporary global Security
on an Interest Payment Date for Securities of such series occurring prior to the applicable
Exchange Date shall be payable to Euroclear and Clearstream on such Interest Payment Date upon
delivery by Euroclear and Clearstream to the Trustee or the applicable Paying Agent of a
certificate or certificates in the form set forth in Exhibit&nbsp;A-2 to this Indenture (or in such
other form as may be established pursuant to Section&nbsp;301), for credit without further interest
thereon on or after such Interest Payment Date to the respective accounts of the Persons who are
the beneficial owners of such temporary global Security on such Interest Payment Date and who have
each delivered to Euroclear or Clearstream, as the case may be, a certificate dated no earlier than
15&nbsp;days prior to the Interest Payment Date occurring prior to such Exchange Date in the form set
forth in Exhibit&nbsp;A-1 to this Indenture (or in such other form as may be established pursuant to
Section&nbsp;301). Notwithstanding anything to the contrary herein contained, the certifications made
pursuant to this paragraph shall satisfy the certification requirements of the preceding two
paragraphs of this Section and of the third paragraph of Section&nbsp;303 of this Indenture and the
interests of the Persons who are the beneficial owners of the temporary global Security with
respect to which such certification was made will be exchanged for definitive Securities of the
same series and of like tenor and, if applicable, having endorsed thereon Guarantees duly executed
by the Guarantor and the Subsidiary Guarantors, as applicable, on the Exchange Date or the date of
certification if such date occurs after the Exchange Date, without further act or deed by such
beneficial owners. Except as otherwise provided in this paragraph, no payments of principal (or
premium, if any) or interest, if any, owing with respect to a beneficial interest in a temporary
global Security will be made unless and until such interest in such temporary global Security shall
have been exchanged for an interest in a definitive Security. Any interest so received by
Euroclear and Clearstream and not paid as herein provided shall be returned to the Trustee or the
applicable Paying Agent immediately prior to the expiration of two years after such Interest
Payment Date in order to be repaid to the Company in accordance with (but otherwise subject to)
Section&nbsp;1003.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 305. <U>Registration, Registration of Transfer and Exchange</U>. The Company or
the Trustee shall cause to be kept at the Corporate Trust Office of the Trustee a register for each
series of Securities (the registers maintained in the Corporate Trust Office of the Trustee and in
any other office or agency of the Company in a Place of Payment being herein sometimes collectively
referred to as the &#147;Security Register&#148;) in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of Registered Securities and of transfers
of Registered Securities; <u>provided</u>, <u>however</u>, that there shall be only one Security Register per
series of Securities. The Security Register shall be in written form or any other form capable of
being converted into written form within a reasonable time. At all reasonable times, the Security
Register shall be open to inspection by the Trustee. The Trustee is hereby initially appointed as
security registrar (the &#147;Security Registrar&#148;) for the purpose of registering Registered Securities
and transfers of Registered Securities as herein provided and for facilitating exchanges of
temporary global Securities for permanent global Securities or definitive Securities, or both, or
of permanent global Securities for definitive Securities, as herein provided.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon surrender for registration of transfer of any Registered Security of any series at the
office or agency in a Place of Payment for that series, the Company shall execute, and the Trustee
shall authenticate and deliver, in the name of the designated transferee, one or more new
Registered Securities of the same series, of any authorized denominations and of a like aggregate
principal amount and tenor and, if applicable, having endorsed thereon Guarantees duly executed by
the Guarantor and the Subsidiary Guarantors, as applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the option of the Holder, Registered Securities of any series may be exchanged for other
Registered Securities of the same series, of any authorized denomination and of a like aggregate
principal amount, upon surrender of the Registered Securities to be exchanged at such office or
agency. Whenever any Registered Securities are so surrendered for exchange, the Company shall
execute, and the Trustee shall authenticate and deliver, the Registered Securities which the Holder
making the exchange is entitled to receive, having, if applicable, endorsed thereon Guarantees duly
executed by the Guarantor and the Subsidiary Guarantors, as applicable. Unless otherwise specified
with respect to any series of Securities as contemplated by Section&nbsp;301, Bearer Securities may not
be issued in exchange for Registered Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If (but only if) expressly permitted in or pursuant to the applicable Board Resolution and
(subject to Section&nbsp;303) set forth in the applicable Officer&#146;s Certificate, or in any indenture
supplemental hereto, delivered as contemplated by Section&nbsp;301, at the option of the Holder, Bearer
Securities of any series may be exchanged for Registered Securities of the same series of any
authorized denomination and of a like aggregate principal amount and tenor, upon surrender of the
Bearer Securities to be exchanged at any such office or agency, with all unmatured coupons and all
matured coupons in default thereto appertaining. If the Holder of a Bearer Security is unable to
produce any such unmatured coupon or coupons or matured coupon or coupons in default, any such
permitted exchange may be effected if the Bearer Securities are accompanied by payment in funds
acceptable to the Company in an amount equal to the face amount of such missing coupon or coupons,
or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if
there is furnished to them such security or indemnity as they may require to save each of them and
any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to any Paying
Agent any such missing coupon in respect of which such a payment shall have been made, such Holder
shall be entitled to receive the amount of such payment; <u>provided</u>, <u>however</u>, that, except as
otherwise provided in Section&nbsp;1002, interest represented by coupons shall be payable only upon
presentation and surrender of those coupons at an office or agency located outside the United
States. Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at
any such office or agency in a permitted exchange for a Registered Security of the same series and
like tenor after the close of business at such office or agency on (i)&nbsp;any Regular Record Date and
before the opening of business at such office or agency on the relevant Interest Payment Date, or
(ii)&nbsp;any Special Record Date and before the opening of business at such office or agency on the
related proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered
without the coupon relating to such Interest Payment Date or proposed date for payment, as the case
may be, and interest or Defaulted Interest, as the case may be, will not be payable on such
Interest Payment Date or proposed date for payment, as the case may be, in respect of the
Registered Security issued in exchange for such Bearer Security, but will be payable only to the
Holder of such coupon when due in accordance with the provisions of this Indenture.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever any Securities are so surrendered for exchange, the Company shall execute, and the
Trustee shall authenticate and deliver, the Securities that the Holder making the exchange is
entitled to receive having, if applicable, endorsed thereon Guarantees duly executed by the
Guarantor and the Subsidiary Guarantors, as applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, except as otherwise specified as contemplated by Section&nbsp;301,
any permanent global Security shall be exchangeable only as provided in this paragraph. If any
beneficial owner of an interest in a permanent global Security is entitled to exchange such
interest for Securities of such series and of like tenor and principal amount of another authorized
form and denomination, as specified as contemplated by Section&nbsp;301 and provided that any applicable
notice provided in the permanent global Security shall have been given, then without unnecessary
delay but in any event not later than the earliest date on which such interest may be so exchanged,
the Company shall deliver to the Trustee definitive Securities of that series in aggregate
principal amount equal to the principal amount of such beneficial owner&#146;s interest in such
permanent global Security, executed by the Company and if applicable, having endorsed thereon
Guarantees duly executed by the Guarantor and the Subsidiary Guarantors, as applicable. On or
after the earliest date on which such interests may be so exchanged, such permanent global Security
shall be surrendered by the Common Depositary or such other depositary as shall be specified in the
Company Order with respect thereto to the Trustee, as the Company&#146;s agent for such purpose, to be
exchanged, in whole or from time to time in part, for definitive Securities without charge, and the
Trustee shall authenticate and deliver, in exchange for each portion of such permanent global
Security, an equal aggregate principal amount of definitive Securities of the same series of
authorized denominations and of like tenor and, if applicable, having endorsed thereon Guarantees
duly executed by the Guarantor and the Subsidiary Guarantors, as applicable, as the portion of
such permanent global Security to be exchanged which, unless the Securities of the series are not
issuable both as Bearer Securities and as Registered Securities, as specified as contemplated by
Section&nbsp;301, shall be in the form of Bearer Securities or Registered Securities, or any combination
thereof, as shall be specified by the beneficial owner thereof; <u>provided</u>, <u>however</u>, that no such
exchanges may occur during a period beginning at the opening of business 15&nbsp;days before any
selection of Securities to be redeemed and ending on the relevant Redemption Date if the Security
for which exchange is requested may be among those selected for redemption; and provided, further,
that no Bearer Security delivered in exchange for a portion of a permanent global Security shall be
mailed or otherwise delivered to any location in the United States. If a Registered Security is
issued in exchange for any portion of a permanent global Security after the close of business at
the office or agency where such exchange occurs on (i)&nbsp;any Regular Record Date and before the
opening of business at such office or agency on the relevant Interest Payment Date, or (ii)&nbsp;any
Special Record Date and before the opening of business at such office or agency on the related
proposed date for payment of Defaulted Interest, interest or Defaulted Interest, as the case may
be, will not be payable on such Interest Payment Date or proposed date for payment, as the case may
be, in respect of such Registered Security, but will be payable on such Interest Payment Date or
proposed date for payment, as the case may be, only to the Person to whom interest in respect of
such portion of such permanent global Security is payable in accordance with the provisions of this
Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All Securities issued upon any registration of transfer or exchange of Securities shall be the
valid obligations of the Company, evidencing the same debt, and entitled to the same
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">benefits under this Indenture, as the Securities surrendered upon such registration of
transfer or exchange.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every Registered Security presented or surrendered for registration of transfer or for
exchange shall (if so required by the Company or the Security Registrar) be duly endorsed, or be
accompanied by a written instrument of transfer, in form satisfactory to the Company and the
Security Registrar, duly executed by the Holder thereof or his attorney duly authorized in writing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of
Securities, other than exchanges pursuant to Section&nbsp;304, 906, 1107 or 1305 not involving any
transfer.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If at any time the Depositary for any permanent global Registered Securities of any series
notifies the Company that it is unwilling or unable to continue as Depositary for such permanent
global Registered Securities or if at any time the Depositary for such permanent global Registered
Securities shall no longer be eligible under applicable law, the Company shall appoint a successor
Depositary eligible under applicable law with respect to such permanent global Registered
Securities. If a successor Depositary eligible under applicable law for such Registered Global
Securities is not appointed by the Company within 90&nbsp;days after the Company receives such notice or
becomes aware of such ineligibility, the Company will execute, and the Trustee, upon receipt of the
Company&#146;s order for the authentication and delivery of definitive Registered Securities of such
series and tenor, will authenticate and deliver such definitive Registered Securities of such
series and tenor, in any authorized denominations, in an aggregate principal amount equal to the
principal amount of such permanent global Registered Securities, in exchange for such permanent
global Registered Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may at any time and in its sole discretion determine that any permanent global
Registered Securities of any series shall no longer be maintained in global form. In such event
the Company will execute, and the Trustee, upon receipt of the Company&#146;s order for the
authentication and delivery of definitive Registered Securities of such series and tenor, will
authenticate and deliver, definitive Registered Securities of such series and tenor in any
authorized denominations, in an aggregate principal amount equal to the principal amount of such
permanent global Registered Securities, in exchange for such permanent global Registered
Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall not be required (i)&nbsp;to issue, register the transfer of or exchange
Securities of any series during a period beginning at the opening of business 15&nbsp;days before the
day of the selection for redemption of Securities of that series under Section&nbsp;1103 or 1203 and
ending at the close of business on (A)&nbsp;if Securities of the series are issuable only as Registered
Securities, the day of the mailing of the relevant notice of redemption and (B)&nbsp;if Securities of
the series are issuable as Bearer Securities, the day of the first publication of the relevant
notice of redemption or, if Securities of the series are also issuable as Registered Securities and
there is no publication, the mailing of the relevant notice of redemption, or (ii)&nbsp;to register the
transfer of or exchange any Registered Security so selected for redemption in whole
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">or in part, except the unredeemed portion of any Security being redeemed in part, or (iii)&nbsp;to
exchange any Bearer Security so selected for redemption except that such a Bearer Security may be
exchanged for a Registered Security of that series and like tenor; provided that such Registered
Security shall be simultaneously surrendered for redemption, or (iv)&nbsp;to issue, register the
transfer of or exchange any Security which has been surrendered for repayment at the option of the
Holder, except the portion, if any, of such Security not to be so repaid.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance
with any restrictions on transfer that may be imposed under this Indenture with respect to the
Securities of any series pursuant to the terms thereof established as contemplated by Section&nbsp;301
or under applicable law with respect to any transfer of any interest in any such Security
(including any transfers between or among any depositary (including any Depositary or Common
Depositary), or its nominee, as a Holder of a Security issued in global form, any participants in
such depositary or owners or holders of beneficial interests in any such 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 such Securities if and as
may be so established in respect of such Securities, and to examine the same to determine
substantial compliance as to form with the express requirements thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Depositary shall be deemed an agent of the Trustee and the Trustee
shall not be responsible  for any act or ommission of the
Depositary.</div>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 306. <U>Mutilated, Destroyed, Lost and Stolen Securities</U>. If any mutilated
Security or a Security with a mutilated coupon appertaining to it is surrendered to the Trustee,
the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new
Security of the same series and of like tenor and principal amount and bearing a number not
contemporaneously Outstanding, and having, if applicable, endorsed thereon Guarantees duly executed
by the Guarantor and the Subsidiary Guarantors, as applicable, with coupons corresponding to the
coupons, if any, appertaining to the surrendered Security, or, in case any such mutilated Security
or coupon has become or is about to become due and payable, the Company in its discretion may,
instead of issuing a new Security, with coupons corresponding to the coupons, if any, appertaining
to the surrendered Security, pay such Security or coupon.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If there shall be delivered to the Company, the Guarantor (if related Guarantees are issued)
and to the Trustee (i)&nbsp;evidence to their satisfaction of the destruction, loss or theft of any
Security or coupon and (ii)&nbsp;such security or indemnity as may be required by them to save each of
them and any agent of either of them harmless, then, in the absence of notice to the Company, the
Guarantor or the Trustee that such Security or coupon has been acquired by a bona fide purchaser,
the Company shall execute and upon Company Order the Trustee shall authenticate and deliver, in
lieu of any such destroyed, lost or stolen Security or in exchange for the Security to which a
destroyed, lost or stolen coupon appertains (with all appurtenant coupons not destroyed, lost or
stolen), a new Security of the same series and of like tenor and principal amount and bearing a
number not contemporaneously Outstanding, and having, if applicable, endorsed thereon Guarantees
duly executed by the Guarantor and the Subsidiary Guarantors, as applicable, with coupons
corresponding to the coupons, if any, appertaining to such destroyed, lost or stolen Security or to
the Security to which such destroyed, lost or stolen coupon appertains.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of the previous two paragraphs, in case any such mutilated,
destroyed, lost or stolen Security or coupon has become or is about to become due and payable, the
Company in its discretion may, instead of issuing a new Security, with coupons corresponding to the
coupons, if any, appertaining to such mutilated, destroyed, lost or stolen Security or to the
Security to which such mutilated, destroyed, lost or stolen coupon appertains, pay such Security or
coupon; <u>provided</u>, <u>however</u>, that payment of principal of (and premium, if any) and interest, if any,
on Bearer Securities shall, except as otherwise provided in Section&nbsp;1002, be payable only at an
office or agency located outside the United States and, unless otherwise specified as contemplated
by Section&nbsp;301, any interest on Bearer Securities shall be payable only upon presentation and
surrender of the coupons appertaining thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the issuance of any new Security under this Section, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every new Security of any series, with any Guarantees endorsed thereon duly executed by the
Guarantor and the Subsidiary Guarantors, as applicable, and with its coupons, if any, issued
pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Security, or in
exchange for a Security to which a mutilated, destroyed, lost or stolen coupon appertains, shall
constitute an original additional contractual obligation of the Company and if applicable, the
Guarantor and the Subsidiary Guarantors, as applicable, whether or not the mutilated, destroyed,
lost or stolen Security and its coupons, if any, or the mutilated, destroyed, lost or stolen coupon
shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities of that series, any
Guarantees endorsed thereon and their coupons, if any, duly issued hereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost
or stolen Securities or coupons.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 307. <U>Payment of Interest; Interest Rights Preserved; Optional Interest
Reset</U>. (a)&nbsp;Unless otherwise provided as contemplated by Section&nbsp;301 with respect to any
series of Securities, interest, if any, on any Registered Security which is payable, and is
punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in
whose name such Security (or one or more Predecessor Securities) is registered at the close of
business on the Regular Record Date for such interest at the office or agency of the Company
maintained for such purpose pursuant to Section&nbsp;1002; <u>provided</u>, <u>however</u>, that each installment of
interest, if any, on any Registered Security may at the Company&#146;s option be paid by (i)&nbsp;mailing a
check for such interest, payable to or upon the written order of the Person entitled thereto
pursuant to Section&nbsp;309, to the address of such Person as it appears on the Security Register or
(ii)&nbsp;transfer to an account located in the United States maintained by the payee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise provided as contemplated by Section&nbsp;301 with respect to the Securities of any
series, payment of interest, if any, may be made, in the case of a Bearer Security, by transfer to
an account located outside the United States maintained by the payee.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any interest on any Registered Security of any series which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the
Holder on the relevant Regular Record Date by virtue of having been such Holder, and such defaulted
interest and, if applicable, interest on such defaulted interest (to the extent lawful) at the rate
specified in the Securities of such series (such defaulted interest and, if applicable, interest
thereon herein collectively called &#147;Defaulted Interest&#148;) may be paid by the Company, at its
election in each case, as provided in clause (1)&nbsp;or (2)&nbsp;below:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Registered Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest, which shall be fixed in the following manner. The Company shall
notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on
each Registered Security of such series and the date of the proposed payment, and at the
same time the Company shall deposit with the Trustee an amount of money in the Currency in
which the Securities of such series are payable (except as otherwise specified pursuant to
Section&nbsp;301 for the Securities of such series and except, if applicable, as provided in
Sections&nbsp;312(b), 312(d) and 312(e)) equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee
for such deposit on or prior to the date of the proposed payment, such money when deposited
to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in
this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment
of such Defaulted Interest that shall be not more than 15&nbsp;days and not less than 10&nbsp;days
prior to the date of the proposed payment and not less than 10&nbsp;days after the receipt by the
Trustee of the notice of the proposed payment. The Trustee shall promptly notify the
Company of such Special Record Date and, in the name and at the expense of the Company,
shall cause notice of the proposed payment of such Defaulted Interest and the Special Record
Date therefor to be given in the manner provided in Section&nbsp;106, not less than 10&nbsp;days prior
to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and
the Special Record Date therefor having been so given, such Defaulted Interest shall be paid
to the Persons in whose name the Registered Securities of such series (or their respective
Predecessor Securities) are registered at the close of business on such Special Record Date
and shall no longer be payable pursuant to the following clause (2).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Company may make payment of any Defaulted Interest on the Registered Securities
of any series in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may be listed, and upon such notice as may be
required by such exchange, if, after notice given by the Company to the Trustee of the
proposed payment pursuant to this clause, such manner of payment shall be deemed practicable
by the Trustee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The provisions of this Section 307(b) may be made applicable to any series of Securities
pursuant to Section&nbsp;301 (with such modifications, additions or substitutions as may be specified
pursuant to such Section&nbsp;301). The interest rate (or the spread or spread multiplier used to
calculate such interest rate, if applicable) on any Security of such series may be reset by the
Company on the date or dates specified on the face of such Security (each an
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Optional Reset Date&#148;). The Company may exercise such option with respect to such Security by
notifying the Trustee of such exercise at least 50 but not more than 60&nbsp;days prior to an Optional
Reset Date for such Security. Not later than 40&nbsp;days prior to each Optional Reset Date, the
Trustee shall transmit, in the manner provided for in Section&nbsp;106, to the Holder of any such
Security a notice (the &#147;Reset Notice&#148;) indicating whether the Company has elected to reset the
interest rate (or the spread or spread multiplier used to calculate such interest rate, if
applicable), and if so (i)&nbsp;such new interest rate (or such new spread or spread multiplier, if
applicable) and (ii)&nbsp;the provisions, if any, for redemption during the period from such Optional
Reset Date to the next Optional Reset Date or if there is no such next Optional Reset Date, to the
date of Maturity of such Security (each such period a &#147;Subsequent Interest Period&#148;), including the
date or dates on which or the period or periods during which and the price or prices at which such
redemption may occur during the Subsequent Interest Period.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, not later than 20&nbsp;days prior to the Optional Reset Date, the
Company may, at its option, revoke the interest rate (or the spread or spread multiplier used to
calculate such interest rate, if applicable) provided for in the Reset Notice and establish an
interest rate (or a spread or spread multiplier used to calculate such interest rate, if
applicable) that is higher than the interest rate (or the spread or spread multiplier, if
applicable) provided for in the Reset Notice, for the Subsequent Interest Period by causing the
Trustee to transmit, in the manner provided for in Section&nbsp;106, notice of such higher interest rate
(or such higher spread or spread multiplier, if applicable) to the Holder of such Security. Such
notice shall be irrevocable. All Securities with respect to which the interest rate (or the spread
or spread multiplier used to calculate such interest rate, if applicable) is reset on an Optional
Reset Date, and with respect to which the Holders of such Securities have not tendered such
Securities for repayment (or have validly revoked any such tender) pursuant to the next succeeding
paragraph, will bear such higher interest rate (or such higher spread or spread multiplier, if
applicable).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Holder of any such Security will have the option to elect repayment by the Company of the
principal of such Security on each Optional Reset Date at a price equal to the principal amount
thereof plus interest accrued to such Optional Reset Date. In order to obtain repayment on an
Optional Reset Date, the Holder must follow the procedures set forth in Article&nbsp;Thirteen for
repayment at the option of Holders except that the period for delivery or notification to the
Trustee shall be at least 25 but not more than 35&nbsp;days prior to such Optional Reset Date and except
that, if the Holder has tendered any Security for repayment pursuant to the Reset Notice, the
Holder may, by written notice to the Trustee, revoke such tender or repayment until the close of
business on the tenth day before such Optional Reset Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the foregoing provisions of this Section and Section&nbsp;305, each Security delivered
under this Indenture upon registration of transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried
by such other Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 308. <U>Optional Extension of Maturity</U>. The provisions of this Section&nbsp;308 may
be made applicable to any series of Securities pursuant to Section&nbsp;301 (with such modifications,
additions or substitutions as may be specified pursuant to such Section&nbsp;301). The Maturity of any
Security of such series may be extended at the option of the Company for the period or periods
specified on the face of such Security (each an &#147;Extension Period&#148;) up to but
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">not beyond the final maturity date of Maturity as set forth on the face of such Security (the
&#147;Stated Maturity&#148;). The Company may exercise such option with respect to any Security by notifying
the Trustee of such exercise at least 50 but not more than 60&nbsp;days prior to the Maturity of such
Security in effect prior to the exercise of such option. If the Company exercises such option, the
Trustee shall transmit, in the manner provided for in Section&nbsp;106, to the Holder of such Security
not later than 40&nbsp;days prior to the Maturity a notice (the &#147;Extension Notice&#148;) indicating (i)&nbsp;the
election of the Company to extend the Maturity, (ii)&nbsp;the new Maturity, (iii)&nbsp;the interest rate, if
any, applicable to the Extension Period and (iv)&nbsp;the provisions, if any, for redemption during such
Extension Period. Upon the Trustee&#146;s transmittal of the Extension Notice, the Maturity of such
Security shall be extended automatically and, except as modified by the Extension Notice and as
described in the next paragraph, such Security will have the same terms as prior to the transmittal
of such Extension Notice.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, not later than 20&nbsp;days before the Maturity of such Security,
the Company may, at its option, revoke the interest rate provided for in the Extension Notice and
establish a higher interest rate for the Extension Period by causing the Trustee to transmit, in
the manner provided for in Section&nbsp;106, notice of such higher interest rate to the Holder of such
Security. Such notice shall be irrevocable. All Securities with respect to which the Maturity is
extended will bear such higher interest rate.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Company extends the Maturity of any Security, the Holder will have the option to elect
repayment of such Security by the Company at Maturity at a price equal to the principal amount
thereof, plus interest accrued to such date. In order to obtain repayment at Maturity once the
Company has extended the Maturity thereof, the Holder must follow the procedures set forth in
Article&nbsp;Thirteen for repayment at the option of Holders, except that the period for delivery or
notification to the Trustee shall be at least 25 but not more than 35&nbsp;days prior to the Maturity
and except that, if the Holder has tendered any Security for repayment pursuant to an Extension
Notice, the Holder may by written notice to the Trustee revoke such tender for repayment until the
close of business on the tenth day before the Maturity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 309. <U>Persons Deemed Owners</U>. Prior to due presentment of a Registered
Security for registration of transfer, the Company, the Guarantor and any Subsidiary Guarantor (if
the Guarantee is endorsed on such Registered Security), the Trustee and any agent of the Company,
the Guarantor and any Subsidiary Guarantor (if the Guarantee is endorsed on such Registered
Security), or the Trustee may treat the Person in whose name such Registered Security is registered
as the absolute owner of such Registered Security for the purpose of receiving payment of principal
of (and premium, if any) and (subject to Sections&nbsp;305 and 307) interest, if any, on such Security
and for all other purposes whatsoever, whether or not such Security be overdue, and none of the
Company, the Guarantor or any Subsidiary Guarantor (if a Guarantee is endorsed on such Registered
Security), the Trustee or any agent of the Company, the Guarantor or any Subsidiary Guarantor (if a
Guarantee is endorsed on such Registered Security), or the Trustee shall be affected by notice to
the contrary.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title to any Bearer Security and any coupons appertaining thereto shall pass by delivery. The
Company, the Guarantor and any Subsidiary Guarantor (if a Guarantee is endorsed on such Bearer
Security), the Trustee and any agent of the Company, the Guarantor and any Subsidiary Guarantor (if
a Guarantee is endorsed on such Bearer Security), or the Trustee may
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">treat the bearer of any Bearer Security and the bearer of any coupon as the absolute owner of
such Security or coupon for the purpose of receiving payment thereof or on account thereof and for
all other purposes whatsoever, whether or not such Security or coupons be overdue, and none of the
Company, the Guarantor or any Subsidiary Guarantor (if a Guarantee is endorsed on such Bearer
Security), the Trustee or any agent of the Company, the Guarantor or any Subsidiary Guarantor (if a
Guarantee is endorsed on such Bearer Security), or the Trustee shall be affected by notice to the
contrary.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None of the Company, the Guarantor, any Subsidiary Guarantor, as applicable, the Trustee, any
Paying Agent or the Security Registrar shall have any responsibility or liability for any aspect of
the records relating to or payments made on account of beneficial ownership interests of a Security
in global form or for maintaining, supervising or reviewing any records relating to such beneficial
ownership interests. The Company, the Guarantor, the Subsidiary Guarantors, as applicable, the
Trustee and the Securities Registrar shall be entitled to deal with any depositary (including any
Depositary or Common Depositary), and any nominee thereof, that is the Holder of any such global
Security for all purposes of this Indenture relating to such global Security (including the payment
of principal, premium, if any, and interest and Additional Amounts, if any, the giving of
instructions or directions by or to the owner or holder of a beneficial ownership interest in such
global Security) as the sole Holder of such global Security and shall have no obligations to the
beneficial owners thereof. None of the Company, the Guarantor, the Subsidiary Guarantors, as
applicable, the Trustee, any Paying Agent or the Security Registrar shall have any responsibility
or liability for any acts or omissions of any such depositary with respect to such global Security,
for the records of any such depositary, including records in respect of beneficial ownership
interests in respect of any such global Security, for any transactions between such depositary and
any participant in such depositary or between or among any such depositary, any such participant
and/or any holder or owner of a beneficial interest in such global Security or for any transfers of
beneficial interests in any such global Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, with respect to any global Security, nothing herein shall
prevent the Company, the Guarantor, the Subsidiary Guarantors, as applicable, the Trustee, or any
agent of the Company, the Guarantor, the Subsidiary Guarantors, as applicable, or the Trustee, from
giving effect to any written certification, proxy or other authorization furnished by any
depositary (including any Depositary or Common Depositary), as a Holder, with respect to such
global Security or impair, as between such depositary and owners of beneficial interests in such
global Security, the operation of customary practices governing the exercise of the rights of such
depositary (or its nominee) as Holder of such global Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 310. <U>Cancellation</U>. All Securities and coupons surrendered for payment,
redemption, repayment at the option of the Holder, registration of transfer or exchange or for
credit against any current or future sinking fund payment shall, if surrendered to any Person other
than the Trustee, be delivered to the Trustee. All Securities and coupons so delivered to the
Trustee shall be promptly cancelled by it. The Company, the Guarantor or the Subsidiary Guarantors
may at any time deliver to the Trustee for cancellation any Securities previously authenticated and
delivered hereunder which the Company, the Guarantor or such Subsidiary Guarantors, as the case may
be, may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other
Person for delivery to the Trustee) for cancellation
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">any Securities previously authenticated hereunder which the Company has not issued and sold,
and all Securities so delivered shall be promptly cancelled by the Trustee. If the Company, the
Guarantor or any Subsidiary Guarantor shall so acquire any of the Securities, however, such
acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by
such Securities unless and until the same are surrendered to the Trustee for cancellation. No
Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as
provided in this Section, except as expressly permitted by this Indenture. All cancelled
Securities and coupons held by the Trustee shall be disposed of by the Trustee in accordance with
its customary procedures and, if requested by the Company in writing, certification of their
disposal delivered to the Company, unless by Company Order the Company shall timely direct that
cancelled Securities be returned to it.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 311. <U>Computation of Interest</U>. Except as otherwise specified as contemplated
by Section&nbsp;301 with respect to Securities of any series, interest, if any, on the Securities of
each series shall be computed on the basis of a 360-day year of twelve 30-day months.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 312. <U>Currency and Manner of Payments in Respect of Securities</U>. (a)&nbsp;Unless
otherwise specified with respect to any series of Securities pursuant to Section&nbsp;301, with respect
to Registered Securities of any series not permitting the election provided for in paragraph (b)
below or the Holders of which have not made the election provided for in paragraph (b)&nbsp;below, and
with respect to Bearer Securities of any series, except as provided in paragraph (d)&nbsp;below, payment
of the principal of (and premium, if any) and interest, if any, on any Registered or Bearer
Security of such series will be made in the Currency in which such Registered Security or Bearer
Security, as the case may be, is payable. The provisions of this Section&nbsp;312 may be modified or
superseded with respect to any Securities pursuant to Section&nbsp;301.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;It may be provided pursuant to Section&nbsp;301 with respect to Registered Securities of any
series that Holders shall have the option, subject to paragraphs (d)&nbsp;and (e)&nbsp;below, to receive
payments of principal of (or premium, if any) or interest, if any, on such Registered Securities in
any of the Currencies which may be designated for such election by delivering to the Trustee a
written election with signature guarantees and in the applicable form established pursuant to
Section&nbsp;301, not later than the close of business on the Election Date immediately preceding the
applicable payment date. If a Holder so elects to receive such payments in any such Currency, such
election will remain in effect for such Holder or any transferee of such Holder until changed by
such Holder or such transferee by written notice to the Trustee (but any such change must be made
not later than the close of business on the Election Date immediately preceding the next payment
date to be effective for the payment to be made on such payment date and no such change of election
may be made with respect to payments to be made on any Registered Security of such series with
respect to which an Event of Default has occurred or with respect to which the Company has
deposited funds pursuant to Article&nbsp;Four or Fourteen or with respect to which a notice of
redemption has been given by the Company or a notice of option to elect repayment has been sent by
such Holder or such transferee). Any Holder of any such Registered Security who shall not have
delivered any such election to the Trustee not later than the close of business on the applicable
Election Date will be paid the amount due on the applicable payment date in the relevant Currency
as provided in
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Section&nbsp;312(a). The Trustee shall notify the Exchange Rate Agent as soon as practicable after
the Election Date of the aggregate principal amount of Registered Securities for which Holders have
made such written election.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Unless otherwise specified pursuant to Section&nbsp;301, if the election referred to in
paragraph (b)&nbsp;above has been provided for pursuant to Section&nbsp;301, then, unless otherwise specified
pursuant to Section&nbsp;301, not later than the fourth Business Day after the Election Date for each
payment date for Registered Securities of any series, the Exchange Rate Agent will deliver to the
Company a written notice specifying, in the Currency in which Registered Securities of such series
are payable, the respective aggregate amounts of principal of (and premium, if any) and interest,
if any, on the Registered Securities to be paid on such payment date, specifying the amounts in
such Currency so payable in respect of the Registered Securities as to which the Holders of
Registered Securities of such series shall have elected to be paid in another Currency as provided
in paragraph (b)&nbsp;above. If the election referred to in paragraph (b)&nbsp;above has been provided for
pursuant to Section&nbsp;301 and if at least one Holder has made such election, then, unless otherwise
specified pursuant to Section&nbsp;301, on the second Business Day preceding such payment date the
Company will deliver to the Trustee for such series of Registered Securities an Exchange Rate
Officer&#146;s Certificate in respect of the Dollar or Foreign Currency payments to be made on such
payment date. Unless otherwise specified pursuant to Section&nbsp;301, the Dollar or Foreign Currency
amount receivable by Holders of Registered Securities who have elected payment in a Currency as
provided in paragraph (b)&nbsp;above shall be determined by the Company on the basis of the applicable
Market Exchange Rate in effect on the third Business Day (the &#147;Valuation Date&#148;) immediately
preceding each payment date, and such determination shall be conclusive and binding for all
purposes, absent manifest error.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;If a Conversion Event occurs with respect to a Foreign Currency in which any of the
Securities are denominated or payable other than pursuant to an election provided for pursuant to
paragraph (b)&nbsp;above, then with respect to each date for the payment of principal of (and premium,
if any) and interest, if any, on the applicable Securities denominated or payable in such Foreign
Currency occurring after the last date on which such Foreign Currency was used (the &#147;Conversion
Date&#148;), the Dollar shall be the Currency of payment for use on each such payment date. Unless
otherwise specified pursuant to Section&nbsp;301, the Dollar amount to be paid by the Company to the
Trustee and by the Trustee or any Paying Agent to the Holders of such Securities with respect to
such payment date shall be, in the case of a Foreign Currency other than a currency unit, the
Dollar Equivalent of the Foreign Currency or, in the case of a currency unit, the Dollar Equivalent
of the Currency Unit, in each case as determined by the Exchange Rate Agent in the manner provided
in paragraph (f)&nbsp;or (g)&nbsp;below.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Unless otherwise specified pursuant to Section&nbsp;301, if the Holder of a Registered Security
denominated in any Currency shall have elected to be paid in another Currency as provided in
paragraph (b)&nbsp;above, and a Conversion Event occurs with respect to such elected Currency, such
Holder shall receive payment in the Currency in which payment would have been made in the absence
of such election; and if a Conversion Event occurs with respect to the Currency in which payment
would have been made in the absence of such election, such Holder shall receive payment in Dollars
as provided in paragraph (d)&nbsp;above.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The &#147;Dollar Equivalent of the Foreign Currency&#148; shall be determined by the Exchange Rate
Agent and shall be obtained for each subsequent payment date by converting the specified Foreign
Currency into Dollars at the Market Exchange Rate on the Conversion Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;The &#147;Dollar Equivalent of the Currency Unit&#148; shall be determined by the Exchange Rate
Agent and subject to the provisions of paragraph (h)&nbsp;below shall be the sum of each amount obtained
by converting the Specified Amount of each Component Currency into Dollars at the Market Exchange
Rate for such Component Currency on the Valuation Date with respect to each payment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;For purposes of this Section&nbsp;312 the following terms shall have the following meanings:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A &#147;Component Currency&#148; shall mean any Currency which, on the Conversion Date, was a
component currency of the relevant currency unit, including, but not limited to, the Euro.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A &#147;Specified Amount&#148; of a Component Currency shall mean the number of units of such
Component Currency or fractions thereof which were represented in the relevant currency
unit, including, but not limited to, the Euro, on the Conversion Date. If after the
Conversion Date the official unit of any Component Currency is altered by way of combination
or subdivision, the Specified Amount of such Component Currency shall be divided or
multiplied in the same proportion. If after the Conversion Date two or more Component
Currencies are consolidated into a single currency, the respective Specified Amounts of such
Component Currencies shall be replaced by an amount in such single Currency equal to the sum
of the respective Specified Amounts of such consolidated Component Currencies expressed in
such single Currency, and such amount shall thereafter be a Specified Amount and such single
Currency shall thereafter be a Component Currency. If after the Conversion Date any
Component Currency shall be divided into two or more currencies, the Specified Amount of
such Component Currency shall be replaced by amounts of such two or more currencies, having
an aggregate Dollar Equivalent value at the Market Exchange Rate on the date of such
replacement equal to the Dollar Equivalent value of the Specified Amount of such former
Component Currency at the Market Exchange Rate immediately before such division and such
amounts shall thereafter be Specified Amounts and such currencies shall thereafter be
Component Currencies. If, after the Conversion Date of the relevant currency unit,
including, but not limited to, the Euro, a Conversion Event (other than any event referred
to above in this definition of &#147;Specified Amount&#148;) occurs with respect to any Component
Currency of such currency unit and is continuing on the applicable Valuation Date, the
Specified Amount of such Component Currency shall, for purposes of calculating the Dollar
Equivalent of the Currency Unit, be converted into Dollars at the Market Exchange Rate in
effect on the Conversion Date of such Component Currency.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Election Date&#148; shall mean the date for any series of Registered Securities as
specified pursuant to clause (13)&nbsp;of Section&nbsp;301 by which the written election referred to
in paragraph (b)&nbsp;above may be made.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">




</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All decisions and determinations of the Exchange Rate Agent regarding the Dollar Equivalent of
the Foreign Currency, the Dollar Equivalent of the Currency Unit, the Market Exchange Rate and
changes in the Specified Amounts as specified above shall be in its sole discretion and shall, in
the absence of manifest error, be conclusive for all purposes and irrevocably binding upon the
Company, the Trustee and all Holders of such Securities denominated or payable in the relevant
Currency. The Exchange Rate Agent shall promptly give written notice to the Company and the
Trustee of any such decision or determination.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Company determines in good faith that a Conversion Event has occurred
with respect to a Foreign Currency, the Company will immediately give written notice thereof to the
Trustee and to the Exchange Rate Agent (and the Trustee will promptly thereafter give notice in the
manner provided for in Section&nbsp;106 to the affected Holders) specifying the Conversion Date. In the
event the Company so determines that a Conversion Event has occurred with respect to the Euro or
any other currency unit in which Securities are denominated or payable, the Company will
immediately give written notice thereof to the Trustee and to the Exchange Rate Agent (and the
Trustee will promptly thereafter give notice in the manner provided for in Section&nbsp;106 to the
affected Holders) specifying the Conversion Date and the Specified Amount of each Component
Currency on the Conversion Date. In the event the Company determines in good faith that any
subsequent change in any Component Currency as set forth in the definition of Specified Amount
above has occurred, the Company will similarly give written notice to the Trustee and the Exchange
Rate Agent. The Trustee shall be fully justified and protected in relying and acting upon
information received by it from the Company and the Exchange Rate Agent and shall not otherwise
have any duty or obligation to determine the accuracy or validity of such information independent
of the Company or the Exchange Rate Agent.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 313. <U>Appointment and Resignation of Successor Exchange Rate Agent</U>. (a)
Unless otherwise specified pursuant to Section&nbsp;301, if and so long as the Securities of any series
(i)&nbsp;are denominated in a Currency other than Dollars or (ii)&nbsp;may be payable in a Currency other
than Dollars, or so long as it is required under any other provision of this Indenture, then the
Company will maintain with respect to each such series of Securities, or as so required, at least
one Exchange Rate Agent. The Company will cause the Exchange Rate Agent to make the necessary
foreign exchange determinations at the time and in the manner specified pursuant to Section&nbsp;301 for
the purpose of determining the applicable rate of exchange and, if applicable, for the purpose of
converting the issued Currency into the applicable payment Currency for the payment of principal
(and premium, if any) and interest, if any, pursuant to Section&nbsp;312.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;No resignation of the Exchange Rate Agent and no appointment of a successor Exchange Rate
Agent pursuant to this Section shall become effective until the acceptance of appointment by the
successor Exchange Rate Agent as evidenced by a written instrument delivered to the Company and the
Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;If the Exchange Rate Agent shall resign, be removed or become incapable of acting, or if a
vacancy shall occur in the office of the Exchange Rate Agent for any cause with respect to the
Securities of one or more series, the Company, by or pursuant to a Board Resolution, shall promptly
appoint a successor Exchange Rate Agent or Exchange Rate Agents
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">with respect to the Securities of that or those series (it being understood that any such
successor Exchange Rate Agent may be appointed with respect to the Securities of one or more or all
of such series and that, unless otherwise specified pursuant to Section&nbsp;301, at any time there
shall only be one Exchange Rate Agent with respect to the Securities of any particular series that
are originally issued by the Company on the same date and that are initially denominated and/or
payable in the same Currency).
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE FOUR
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">SATISFACTION AND DISCHARGE
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 401. <U>Satisfaction and Discharge of Indenture</U>. This Indenture shall upon
Company Request cease to be of further effect with respect to any series of Securities specified in
such Company Request (except as to any surviving rights of registration of transfer or exchange of
Securities of such series expressly provided for herein or pursuant hereto, and any right to
receive Additional Amounts, as contemplated by Section&nbsp;1011) and the Trustee, at the expense of the
Company, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture as to such series when
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) either
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) all Securities of such series theretofore authenticated and delivered and
all coupons, if any, appertaining thereto (other than (i)&nbsp;coupons appertaining to
Bearer Securities surrendered for exchange for Registered Securities and maturing
after such exchange, whose surrender is not required or has been waived as provided
in Section&nbsp;305, (ii)&nbsp;Securities and coupons of such series which have been
destroyed, lost or stolen and which have been replaced or paid as provided in
Section&nbsp;306, (iii)&nbsp;coupons appertaining to Securities called for redemption and
maturing after the relevant Redemption Date, whose surrender has been waived as
provided in Section&nbsp;1106, and (iv)&nbsp;Securities and coupons of such series for whose
payment money has theretofore been deposited in trust with the Trustee or any Paying
Agent or segregated and held in trust by the Company, the Guarantor or the
Subsidiary Guarantors, as the case may be, and thereafter repaid to the Company, the
Guarantor or the Subsidiary Guarantors, as the case may be, or discharged from such
trust, as provided in Section&nbsp;1003) have been delivered to the Trustee for
cancellation; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) all Securities of such series and, in the case of (i)&nbsp;or (ii)&nbsp;below, any
coupons appertaining thereto not theretofore delivered to the Trustee for
cancellation
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) have become due and payable, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) will become due and payable at their Stated Maturity within one
year, or
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if redeemable at the option of the Company, are to be called for
redemption within one year under arrangements satisfactory to the Trustee
for the giving of notice of redemption by the Trustee in the name, and at
the expense, of the Company,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">and the Company, in the case of (i), (ii)&nbsp;or (iii)&nbsp;above, has irrevocably deposited
or caused to be deposited with the Trustee as trust funds in trust for such purpose
an amount in the Currency in which the Securities of such series are payable,
sufficient to pay and discharge the entire indebtedness on such Securities and such
coupons not theretofore delivered to the Trustee for cancellation, for principal
(and premium, if any) and interest, if any, to the date of such deposit (in the case
of Securities which have become due and payable) or to the Stated Maturity or
Redemption Date, as the case may be;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Company has paid or caused to be paid all other sums payable hereunder by the
Company; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the Company has delivered to the Trustee an Officer&#146;s Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture as to such series have been complied with.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section&nbsp;606, the obligations of the Trustee to any Authenticating
Agent under Section&nbsp;611 and, if money shall have been deposited with the Trustee pursuant to
subclause (B)&nbsp;of clause (1)&nbsp;of this Section, the obligations of the Trustee under Section&nbsp;402 and
the last paragraph of Section&nbsp;1003, the last sentence of Section&nbsp;1011, and the penultimate
paragraph of Section&nbsp;1405 shall survive.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 402. <U>Application of Trust Money</U>. Subject to the provisions of the last
paragraph of Section&nbsp;1003, all money deposited with the Trustee pursuant to Section&nbsp;401 shall be
held in trust and applied by it, in accordance with the provisions of the Securities, the coupons
and this Indenture, to the payment, either directly or through any Paying Agent (including the
Company, the Guarantor or any Subsidiary Guarantor, as applicable, acting as its own Paying Agent)
as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if
any) and interest, if any, for whose payment such money has been deposited with the Trustee; but
such money need not be segregated from other funds except to the extent required by law. Money so
held in trust is subject to the Trustee&#146;s rights under Section&nbsp;606.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE FIVE
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">REMEDIES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 501. <U>Events of Default</U>. &#147;Event of Default,&#148; wherever used herein with
respect to Securities of any series, means any one of the following events (whatever the reason for
such Event of Default and whether it shall be voluntary or involuntary or be effected
</DIV>




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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">by operation of law or pursuant to any judgment, decree or order of any court or any order,
rule or regulation of any administrative or governmental body):
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) default in the payment of any interest on any Security of that series, or any
related coupon, when such interest or coupon becomes due and payable, and continuance of
such default for a period of 30&nbsp;days; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) default in the payment of the principal of (or premium, if any, on) any Security of
that series at its Maturity; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) default in the deposit of any sinking fund payment, when and as due by the terms of
the Securities of that series and Article&nbsp;Twelve; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) default in the performance, or breach, of any covenant or agreement of the Company
or the Guarantor in this Indenture which affects or is applicable to the Securities of that
series (other than a default in the performance or breach of a covenant or agreement is
elsewhere in this Section specifically dealt with or which has expressly been included in
this Indenture solely for the benefit of other series of Securities), and continuance of
such default or breach for a period of 60&nbsp;days after there has been given, by registered or
certified mail, to the Company by the Trustee or to the Company and the Trustee by the
Holders of at least 25% in principal amount of all Outstanding Securities of that series a
written notice specifying such default or breach and requiring it to be remedied and stating
that such notice is a &#147;Notice of Default&#148; hereunder; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) the Guarantee, if any, applicable to the Securities of that series, ceases
to be in full force and effect or a Holdings&#146; Guarantee is declared null and void or the Guarantor denies that it
has any further liability under its Guarantee to the Holders of Securities of that series,
or has given notice to such effect (other than by reason of the release of any such
Guarantee in accordance with this Indenture), and such condition shall have continued for
period of 30&nbsp;days after written notice to the Company by the Trustee or to the Company and
the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities
of that series; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) default in the payment of principal when due or resulting in acceleration of other
Indebtedness of the Company, or, if Guarantees are issued, the Guarantor, or any Significant
Subsidiary for borrowed money where the aggregate principal amount with respect to which the
default or acceleration has occurred exceeds $100&nbsp;million and such acceleration has not been
rescinded or annulled or such Indebtedness repaid within a period of 30&nbsp;days after written
notice to the Company by the Trustee or to the Company and the Trustee by the Holders of at
least 25% in principal amount of all Outstanding Securities; <U>provided</U> that if any
such default is cured, waived, rescinded or annulled, then the Event of Default by reason
thereof would be deemed not to have occurred; or
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) the entry by a court having jurisdiction in the premises of (A)&nbsp;a decree or order
for relief in respect of the Company or, if a Holdings&#146;
Guarantee is issued, the Guarantor in an involuntary case or proceeding under Bankruptcy Law
or (B)&nbsp;a decree or order adjudging the Company or, if a
Holdings&#146; Guarantee is issued, the Guarantor a bankrupt or insolvent, or approving as
properly filed a petition seeking reorganization, arrangement, adjustment or composition of
or in respect of the Company or, if a Holdings&#146; Guarantee is
issued, the Guarantor under any applicable Federal or State law, or appointing a custodian,
receiver, liquidator, assignee, trustee, sequestrator or other similar official of the
Company or, if a Holdings&#146; Guarantee is issued, the Guarantor or
of any substantial part of their property, or ordering the winding up or liquidation of
their affairs, and the continuance of any such decree or order for relief or any such other
decree or order unstayed and in effect for a period of 60 consecutive days; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)
the commencement by the Company or, if Guarantees are issued, the Guarantor of a voluntary case or proceeding under Bankruptcy Law or
of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by
them to the entry of a decree or order for relief in respect of the Company or, if Guarantees are issued, the Guarantor is an involuntary case or
proceeding under Bankruptcy Law or to the commencement of any bankruptcy or insolvency case
or proceeding against them, or the filing by them of a petition or answer or consent seeking
reorganization or relief under any applicable Federal or State law, or the consent by them
to the filing of such petition or to the appointment of or taking possession by a custodian,
receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company or, if Guarantees are issued, the Guarantor or of any
substantial part of their property, or the making by them of an assignment for the benefit
of creditors, or the admission by them in writing of their inability to pay their debts
generally as they become due; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) there occurs any other Event of Default provided pursuant to Section&nbsp;301 or 901
with respect to Securities of that series.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 502. <U>Acceleration of Maturity; Rescission and Annulment</U>. If an Event of
Default described in clause (1), (2), (3), (4), (5), (6)&nbsp;or (9)&nbsp;of Section&nbsp;501 with respect to
Securities of any series at the time Outstanding occurs and is continuing, then in every such case
the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities
of that series may declare the principal amount (or, if the Securities of that series are Original
Issue Discount Securities or Indexed Securities, such portion of the principal amount as may be
specified in the terms of that series) of all of the Outstanding Securities of that series and any
accrued and unpaid cash interest through the date of such declaration, to be due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and
upon any such declaration such principal amount shall become immediately due and payable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At any time after such a declaration of acceleration with respect to Securities of any series
(or of all series, as the case may be) has been made and before a judgment or decree
</DIV>




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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">for payment of the money due has been obtained by the Trustee as hereinafter in this Article
provided, the Holders of a majority in principal amount of the Outstanding Securities of that
series (or of all series, as the case may be) by written notice to the Company, the Guarantor, if
applicable, and the Trustee, may rescind and annul such declaration and its consequences if:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Company has paid or deposited with the Trustee a sum sufficient to pay in the
Currency in which the Securities of such series are payable (except as otherwise specified
pursuant to Section&nbsp;301 for the Securities of such series and except, if applicable, as
provided in Sections&nbsp;312(b), 312(d) and 312(e)),
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) all overdue interest, if any, on all Outstanding Securities of that series
(or of all series, as the case may be) and any related coupons,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) all unpaid principal of (and premium, if any) any Outstanding Securities of
that series (or of all series, as the case may be) which has become due otherwise
than by such declaration of acceleration, and interest on such unpaid principal at
the rate or rates prescribed therefor in such Securities,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) to the extent that payment of such interest is enforceable under applicable
law, interest upon overdue interest to the date of such payment or deposit at the
rate or rates prescribed therefor in such Securities or, if no such rate or rates
are so prescribed, at the rate borne by the Securities during the period of such
default, and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) all sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) all Events of Default with respect to Securities of that series (or of all series,
as the case may be), other than the non-payment of the principal of (or premium, if any, on)
Securities of that series (or of all series, as the case may be) which have become due
solely by such declaration of acceleration, have been cured or waived as provided in Section
513.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If an Event of Default described in clause (7)&nbsp;or (8)&nbsp;occurs and is continuing, then the principal
amounts (or, if the Securities of that series are Original Issue Discount Securities or Indexed
Securities, such position of the principal amount as may be specified in the terms of that series)
of all the Securities and then Outstanding, together with any accrued interest through the
occurrence of such Event of Default, shall become and be due and payable immediately, without any
declaration or other act by the Trustee or any other Holder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 503. <U>Collection of Indebtedness and Suits for Enforcement by Trustee</U>. The
Company covenants that (1)&nbsp;in case default shall be made in the payment of any installment of
interest on any Security of any series and any related coupon, as and when the same shall become
due and payable, and such default shall have continued for a period of 90&nbsp;days, or (2)&nbsp;in case
default shall be made in the payment of the principal (or premium, if any, on) any Security of any
series at its Maturity and such default shall have continued for a period of five Business Days
then, upon demand of the Trustee, the Company will pay to the Trustee (such
</DIV>




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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">demand and payment in the case of Bearer Securities to occur only outside of the United
States, for the benefit of the Holders of Securities of such series and coupons, the whole amount
that then shall have become due and payable on such Securities and coupons of that series for
principal and any premium or interest, or both, as the case may be, with interest upon the overdue
principal and (to the extent that payment of such interest is enforceable under applicable law)
upon overdue installments of interest at the rate borne by or provided for in such Securities
during the period of such default; and, in addition thereto, such further amount as shall be
sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and
all other expenses and liabilities incurred, and all advances made, by the Trustee except as a
result of its negligence or bad faith.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an Event of Default with respect to Securities of any series (or of all series, as the case
may be) occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce
its rights and the rights of the Holders of Securities of such series (or of all series, as the
case may be) and any related coupons by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any such rights, whether for the specific enforcement of
any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein,
or to enforce any other proper remedy.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 504. <U>Trustee May File Proofs of Claim</U>. In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to the Company, the Guarantor or any Subsidiary
Guarantor (if any related Guarantees are issued) or any other obligor upon the Securities of a
series or the property of the Company, the Guarantor or any Subsidiary Guarantor (if any related
Guarantees are issued) or of such other obligor or their creditors, the Trustee, irrespective of
whether the principal of the Securities of any series shall then be due and payable as therein
expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made
any demand on the Company or, if applicable, the Guarantor or any Subsidiary Guarantor for the
payment of any overdue principal, premium, if any, or interest, shall be entitled and empowered, by
intervention in such proceeding or otherwise,
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) to file and prove a claim for the whole amount of principal (and premium, if any)
(or if the case of Original Issue Discount Securities or Indexed Securities, such portion of
the principal amount as may be specified in the terms of such series) and interest, if any,
owing and unpaid in respect of the Securities and to file such other papers or documents as
may be necessary or advisable in order to have the claims of the Trustee (including any
claim for the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel) and of the Holders allowed in such judicial proceeding; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) to collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute the same (which distribution, in the case of Bearer Securities
or coupons appertaining thereto, shall occur only outside the United States);
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly
</DIV>




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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section&nbsp;606.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or coupons or the rights of any Holder thereof or to authorize
the Trustee to vote in respect of the claim of any Holder in any such proceeding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 505. <U>Trustee May Enforce Claims Without Possession of Securities</U>. All
rights of action and claims under this Indenture or the Securities or coupons may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or coupons or the
production thereof in any proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name and as trustee of an express trust, and any recovery of
judgment shall, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of
the Holders of the Securities and coupons in respect of which such judgment has been recovered.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 506. <U>Application of Money Collected</U>. Any money collected by the Trustee
pursuant to this Article shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such money on account of principal or any premium and
interest, upon presentation of the Securities or coupons, or both, as the case may be (such
presentation, in the case of Bearer Securities or coupons, to occur only outside the United States)
and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First: To the payment of all amounts due the Trustee under Section&nbsp;606;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Second: To the payment (such payment, in the case of Bearer Securities or coupons, to
occur only outside the United States) of the amounts then due and unpaid for principal of
and any premium and interest on the Securities and coupons in respect of which or for the
benefit of which such money has been collected, ratably, without preference or priority of
any kind, according to the amounts due and payable on such Securities and coupons for
principal and any premium and interest, respectively; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Third: To the payment of the remainder, if any, to the Company, or as a court of
competent jurisdiction may direct in writing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 507. <U>Limitation on Suits</U>. No Holder of any Security of any series or any
related coupons shall have any right to institute any proceeding, judicial or otherwise, with
respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy
hereunder, unless:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) such Holder shall have previously given written notice to the Trustee of a
continuing Event of Default with respect to the Securities of that series;
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Holders of not less than 25% in principal amount of the Outstanding Securities
of that series in the case of any Event of Default described in clause (1), (2), (3), (4),
(5)&nbsp;or (9)&nbsp;of Section&nbsp;501, or, in the case of any Event of Default described in clause (6),
(7)&nbsp;or (8)&nbsp;of Section&nbsp;501, the Holders of not less than 25% in principal amount of all
Outstanding Securities, shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default in its own name as Trustee hereunder;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) such Holder or Holders shall have offered to the Trustee reasonable indemnity
satisfactory to it against the costs, expenses and liabilities to be incurred in compliance
with such request;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the Trustee for 60&nbsp;days after its receipt of such notice, request and offer of
indemnity shall have failed to institute any such proceeding; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) no direction inconsistent with such written request shall have been given to the
Trustee pursuant to Section&nbsp;512 during such 60-day period by the Holders of a majority or
more in principal amount of the Outstanding Securities of that series, in the case of any
Event of Default described in clause (1), (2), (3), (4), (5)&nbsp;or (9)&nbsp;of Section&nbsp;501, or, in
the case of any Event of Default described in clause (6), (7)&nbsp;or (8)&nbsp;of Section&nbsp;501 by the
Holders of a majority or more in principal amount of all Outstanding Securities;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb
or prejudice the rights of any other Holders of Securities of the same series, in the case of any
Event of Default described in clause (1), (2), (3), (4), (5)&nbsp;or (9)&nbsp;of Section&nbsp;501, or of Holders
of all Securities in the case of any Event of Default described in clause (6), (7)&nbsp;or (8)&nbsp;of
Section&nbsp;501, or to obtain or to seek to obtain priority or preference over any other of such
Holders or to enforce any right under this Indenture, except in the manner herein provided and for
the equal and ratable and common benefit of all of such Holders of Securities of that same series
in the case of any Event of Default described in clause (1), (2), (3), (4), (5)&nbsp;or (9)&nbsp;of Section
501, or of Holders of all Securities in the case of any Event of Default described in clause (6),
(7)&nbsp;or (8)&nbsp;of Section&nbsp;501.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 508. <U>Unconditional Right of Holders to Receive Principal, Premium and
Interest</U>. Notwithstanding any other provision in this Indenture, the Holder of any Security
shall have the right, which is absolute and unconditional, to receive payment as provided herein
and in such Security of the principal and any premium and interest on such Security or payment of
any related coupon on the respective Stated Maturity or Maturities expressed in such Security or
coupon (or, in the case of redemption or repayment at the option of the Holder, on the Redemption
Date or Repayment Date, as the case may be) and to institute suit for the enforcement of any such
payment, and such rights shall not be impaired without the consent of such Holder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 509. <U>Restoration of Rights and Remedies</U>. If the Trustee or any Holder has
instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding
has been discontinued or abandoned for any reason, or has been determined
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">adversely to the Trustee or to such Holder, then and in every such case, subject to any
determination in such proceeding, the Company, the Guarantor, the Subsidiary Guarantors, the
Trustee and the Holders shall be restored severally and respectively to their former positions
hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as
though no such proceeding had been instituted.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 510. <U>Rights and Remedies Cumulative</U>. Except as otherwise provided with
respect to replacement or payment of mutilated, destroyed, lost or stolen Securities or coupons in
Section&nbsp;306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders
of Securities and coupons is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in addition to every
other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 511. <U>Delay or Omission Not Waiver</U>. No delay or omission of the Trustee or
of any Holder of any Security or coupon to exercise any right or remedy accruing upon any Event of
Default shall impair any such right or remedy or constitute a waiver of any such Event of Default
or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee
or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by
the Trustee or by the Holders of Securities or coupons, as the case may be.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 512. <U>Control by Holders</U>. With respect to the Securities of any series, the
Holders of not less than a majority in principal amount of the Outstanding Securities of such
series shall have the right to direct the time, method and place of conducting any proceeding for
any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee
relating to or arising under clause (1), (2), (3), (4), (5)&nbsp;or (9)&nbsp;of Section&nbsp;501 and, with respect
to all Securities; <u>provided</u>, <u>however</u>, the Holders of not less than a majority in principal amount
of all Outstanding Securities shall have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power
conferred on the Trustee, not relating to or arising under clause (1), (2), (3), (4), (5)&nbsp;or (9)&nbsp;of
Section&nbsp;501:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) such direction shall not be in conflict with any rule of law or with this
Indenture,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) such direction is not unduly prejudicial to the rights of Holders of Securities of
such series not taking part in such direction, and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) such direction would not involve the Trustee in personal liability, as the Trustee,
upon being advised by counsel, shall reasonably determine.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 513. <U>Waiver of Past Defaults</U>. Subject to Section&nbsp;502, the Holders of not
less than a majority in principal amount of Outstanding Securities of any series may on
</DIV>




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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">behalf of the Holders of all the Securities of such series waive any past default
 described in clause (1), (2), (3), (4), (5)&nbsp;or (9)&nbsp;of Section&nbsp;501 (or, in the case of
a default described in clause (6), (7)&nbsp;or (8)&nbsp;of Section&nbsp;501, the Holders of not less than a
majority in principal amount of all Outstanding Securities may waive any such past default),
hereunder with respect to such series and its consequences, except a default:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) in respect of the payment of the principal of or any premium and interest on any
Security or any related coupon, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) in respect of a covenant or provision hereof which under Article&nbsp;Nine cannot be
modified or amended without the consent of the Holder of each Outstanding Security of such
series affected.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon any such waiver, any such default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture, and the Company,
the Trustee and Holders shall be restored to their former positions and rights hereunder,
respectively; but no such waiver shall extend to any subsequent or other default or Event of
Default or impair any right consequent thereon.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 514. <U>Undertaking for Costs</U>. All parties to this Indenture agree, and each
Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may
in its discretion require, in any suit for the enforcement of any right or remedy under this
Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as
Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such
suit, and that such court may in its discretion assess reasonable costs, including reasonable
attorneys&#146; fees and expenses, against any party litigant in such suit, having due regard to the
merits and good faith of the claims or defenses made by such party litigant; but the provisions of
this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any
Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the
Outstanding Security, or to any suit instituted by any Holder for the enforcement of the payment of
the principal of (or premium if any, on) or interest on any Securities on or after the Stated
Maturity or Maturities expressed in such Security (or, in the case of redemption, on or after the
Redemption Date).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 515. <U>Waiver of Stay or Extension Laws</U>. Each of the Company and the
Guarantor covenants (to the extent that each may lawfully do so) that it will not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any
stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the
covenants or the performance of this Indenture; and each of the Company and the Guarantor (to the
extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law
and covenants that it will not hinder, delay or impede the execution of any power herein granted to
the Trustee, but will suffer and permit the execution of every such power as though no such law had
been enacted.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE SIX
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">THE TRUSTEE
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 601. <U>Notice of Defaults</U>. Within 90&nbsp;days after the occurrence of any Default
hereunder with respect to the Securities of any series, the Trustee shall transmit in the manner
and to the extent provided in TIA Section&nbsp;313(c), notice of such default hereunder known to a
Responsible Officer of the Trustee, unless such Default shall have been cured or waived; <u>provided</u>,
<u>however</u>, that, except in the case of a Default in the payment of the principal of (or premium, if
any) or interest, if any, on any Security of such series or in the payment of any sinking fund
installment with respect to Securities of such series, the Trustee shall be protected in
withholding such notice if and so long as the board of directors, the executive committee or a
trust committee of directors and/or Responsible Officers of the Trustee in good faith determine
that the withholding of such notice is in the interest of the Holders of Securities of such series
and any related coupons; and <U>provided</U> <U>further</U> that in the case of any default or
breach of the character specified in Section&nbsp;501(4) with respect to Securities and coupons of such
series, no such notice to Holders shall be given until at least 30&nbsp;days after the occurrence
thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 602. <U>Certain Duties, Responsibilities and Rights of Trustee</U>. Subject to the
provisions of TIA Sections 315(a) through 315(d):
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) except during the continuance of an Event of Default,
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Trustee undertakes to perform such duties
and only such duties as are specifically set forth in this Indenture,
and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the absence of bad faith on its part, the
Trustee may conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon certificates or
opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such certificates or opinions
which by any provision hereof are specifically required to be furnished
to the Trustee, the Trustee shall be under a duty to examine the same
to determine whether or not they conform to the requirements of this
Indenture;</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) if any Event of Default has occurred and is continuing with respect to the
Securities of any series, the Trustee shall exercise such of the rights and powers vested in
it by this Indenture, and use the same degree of care and skill in their exercise, as a
prudent person would exercise or use under the circumstances in the conduct of such person&#146;s
own affairs;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the Trustee may not be relieved from liabilities for its own negligent action, its
own negligent failure to act, or its own willful misconduct, except that:
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>this subparagraph (3)&nbsp;does not limit the effect
of subparagraph (1)&nbsp;of this paragraph or the penultimate paragraph of
this Section&nbsp;602;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Trustee shall not be liable for any error
of judgment made in good faith by a Responsible Officer, unless it is
proved that the Trustee was negligent in ascertaining the pertinent
facts; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Trustee shall not be liable with respect to
any action taken or omitted to be taken by it in good faith in
accordance with the direction of the Holders of a majority in principal
amount of the Outstanding Securities of the affected series relating to
the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred
upon the Trustee, under this Indenture;</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the Trustee may conclusively rely and shall be fully protected in acting or
refraining from acting upon any resolution, certificate, statement, instrument, opinion,
report, notice, request, direction, consent, order, bond, debenture, note, other evidence of
indebtedness or other paper or document believed by it to be genuine and to have been signed
or presented by the proper party or parties;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) any request or direction of the Company, the Guarantor or any Subsidiary Guarantor
mentioned herein shall be sufficiently evidenced by a Company Request or Company Order,
Guarantor Request or Guarantor Order, or Subsidiary Guarantor Request or Subsidiary
Guarantor Order, as the case may be, and any resolution of the Board of Directors of the
Company, the Guarantor or any Subsidiary Guarantor may be sufficiently evidenced by a Board
Resolution;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) whenever in the administration of this Indenture the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may,
in the absence of bad faith on its part, conclusively rely upon an Officer&#146;s Certificate;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) the Trustee may consult with counsel and the written advice of such counsel or any
Opinion of Counsel shall be full and complete authorization and protection in respect of any
action taken, suffered or omitted by it hereunder in good faith and in reliance thereon;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) the Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders of
Securities of any series or any related coupons pursuant to this Indenture, unless such
Holders shall have offered to the Trustee reasonable security or indemnity satisfactory to
it against the costs, expenses and liabilities which might be incurred by it in compliance
with such request or direction;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice,
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">request, direction, consent, order, bond, debenture, note, other evidence of
indebtedness or other paper or document, but the Trustee, in its discretion, may make such
further inquiry or investigation into such facts or matters as it may see fit, and, if the
Trustee shall determine to make such further inquiry or investigation, it shall be entitled
to examine the books, records and premises of the Company or, if any Guarantees are issued,
the Guarantor, personally or by agent or attorney;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) the Trustee may execute any of the trusts or powers hereunder or perform any
duties hereunder either directly or by or through agents, attorneys, custodians, or nominees
and the Trustee shall not be responsible for any misconduct or negligence on the part of any
agent, attorney, custodian, or nominee appointed with due care by it hereunder;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) the Trustee shall not be liable for any action taken, suffered or omitted by it in
good faith and believed by it to be authorized or within the discretion or rights or powers
conferred upon it by this Indenture;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) in the event that the Trustee is also acting as Paying Agent, Security Registrar
or in any other capacity hereunder, the rights, privileges, protections, immunities and
benefits afforded to the Trustee pursuant to this Article&nbsp;Six, including, without
limitation, its right to be indemnified, shall also be afforded to the Trustee in its
capacity as such Paying Agent, Security Registrar or in such other capacity;
</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) the Trustee shall not be deemed to know or be charged with knowledge of any
Default or Event of Default with respect to the Securities of any series for which it is
acting as Trustee unless a Responsible Officer of the Trustee shall have received written
notice thereof at the Corporate Trust Office of the Trustee from the Company or a Holder of
such Securities and such notice references this Indenture and such
Securities;</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) the Trustee shall not be required to give any note, bond or surety in
respect of  the trusts and powers under this Indenture;</div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15)
in no event shall the Trustee be responsible or liable for special,
indirect, or
consequential loss or damage of any kind whatsoever (including, but
not limited to loss of profit) irrespective of whether the Trustee
has been advised of the likelihood
of such loss or damage and regardless of the form of action; and </DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16)
in no event shall the Trustee be responsible or liable for any
failure or delay in the performance
of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond
its control including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism,
civil or military disturbances, nuclear or natural catastrophes or
acts of God, and interruptions,
loss or malfunctions of utilities, communications or computer
(software and hardware) services; it
being understood that the Trustee shall use reasonable efforts which
are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee shall not be required to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the exercise of any of
its rights or powers if it shall have reasonable grounds for believing that repayment of such funds
or adequate indemnity against such risk or liability is not reasonably assured to it.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whether or not therein expressly so provided, every provision of this Indenture relating to
the conduct or affecting the liability of or affording protection to the Trustee shall be subject
to the provisions of this Section&nbsp;602.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 603. <U>Trustee Not Responsible for Recitals or Issuance of Securities</U>. The
recitals contained herein and in the Securities, including any Guarantees endorsed thereon, except
for the Trustee&#146;s certificates of authentication, and in any coupons shall be taken as the
statements of the Company, the Guarantor or the Subsidiary Guarantors, as the case may be, and
neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness.
The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Securities or coupons, except that the Trustee represents that it is duly authorized to execute and
deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that
the statements made by it in a Statement of Eligibility on Form&nbsp;T-1
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">supplied to the Company are true and accurate, subject to the qualifications set forth
therein. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or
application by the Company of Securities or the proceeds thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 604. <U>May Hold Securities</U>. The Trustee, any Authenticating Agent, any Paying
Agent, any Security Registrar or any other agent of the Company, the Guarantor, or any Subsidiary
Guarantor or of the Trustee, in its individual or any other capacity, may become the owner or
pledgee of Securities and coupons and, subject to TIA Sections 310(b) and 311, may otherwise deal
with the Company, the Guarantor and any Subsidiary Guarantors with the same rights it would have if
it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 605. <U>Money Held in Trust</U>. Money held by the Trustee in trust hereunder need
not be segregated from other funds except to the extent required by law. The Trustee shall be
under no liability for interest on any money received by it hereunder except as otherwise agreed
with the Company or the Guarantor, as the case may be, for the investment thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 606. <U>Compensation and Reimbursement</U>. The Company agrees:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) to pay to the Trustee from time to time reasonable compensation for all
services rendered by it hereunder (which compensation shall not be limited by any
provision of law in regard to the compensation of a trustee of an express trust);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) except as otherwise expressly provided herein, to reimburse the Trustee upon
its request for all reasonable expenses, disbursements and advances incurred or made by
the Trustee in accordance with any provision of this Indenture (including the reasonable
compensation and the expenses and disbursements of its agents and counsel), except any
such expense, disbursement or advance as may be attributable to its gross negligence or
willful misconduct; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) to indemnify the Trustee and any predecessor trustee and its and their
officers, directors, employees, and agents for, and to hold it or them harmless against,
any loss, liability or expense incurred without gross negligence or willful misconduct
on its or their part, arising out of or in connection with the acceptance or
administration of the trust or trusts hereunder, including the costs and expenses
(including reasonable fees and expenses of counsel) of defending itself or themselves
against any claim or liability in connection with the exercise or performance of any of
its or their powers or duties hereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The obligations of the Company under this Section to compensate the Trustee, to pay or
reimburse the Trustee for expenses, disbursements and advances and to indemnify and hold harmless
the Trustee shall constitute additional indebtedness hereunder and shall survive the satisfaction
and discharge of this Indenture, the resignation or removal of the Trustee and the termination of
this Indenture for any reason. As security for the performance of such obligations of the Company,
the Trustee shall have a claim and lien prior to the Securities upon all property
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">and funds held or collected by the Trustee as such, except funds held in trust for the payment
of principal of (or premium, if any) or interest, if any, on particular Securities or any coupons.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When the Trustee incurs expenses or renders services in connection with an Event of Default
specified in Section&nbsp;501(7) or (8), the expenses (including reasonable charges and expense of its
counsel) of and the compensation for such services are intended to constitute expenses of
administration under any applicable Federal or State bankruptcy, insolvency or other similar law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Section shall survive the satisfaction and discharge of this Indenture,
the termination of this Indenture for any reason and the earlier resignation or removal of the
Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 607. <U>Corporate Trustee Required; Eligibility; Conflicting Interests;
Disqualification</U>. There shall be at all times a Trustee hereunder which shall be eligible to
act as Trustee under TIA Section&nbsp;310(a)(1) and shall have a combined capital and surplus of at
least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant
to law or to the requirements of Federal, State, territorial or District of Columbia supervising or
examining authority, then for the purposes of this Section, the combined capital and surplus of
such corporation shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in the manner and with
the effect hereinafter specified in this Article. If the Trustee shall have or acquire any
conflicting interest within the meaning of the Trust Indenture Act, it shall either eliminate such
conflicting interest or resign to the extent, in the manner and with the effect, and subject to the
conditions, provided in the Trust Indenture Act and this Indenture. For purposes of Section
310(b)(1) of the Trust Indenture Act and to the extent permitted thereby, the Trustee, in its
capacity as trustee in respect of the Securities of any series, shall not be deemed to have a
conflicting interest arising from its capacity as trustee in respect of the Securities of any other
series. Nothing contained herein shall prevent the Trustee from filing the application provided
for in the second to last sentence of Section 310(b) of the Trust Indenture Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 608. <U>Resignation and Removal; Appointment of Successor</U>. (a)&nbsp;No resignation
or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall
become effective until the acceptance of appointment by the successor Trustee in accordance with
the applicable requirements of Section&nbsp;609 and any and all amounts then due and owing to the
Trustee hereunder have been paid in full.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Trustee may resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company and, if applicable the Guarantor. If the instrument
of acceptance by a successor Trustee required by Section&nbsp;609 shall not have been delivered to the
Trustee within 30&nbsp;days after the giving of such notice of resignation, the resigning Trustee may
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Trustee may be removed at any time with respect to the Securities of any series by Act
of the Holders of not less than a majority in principal amount of the
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Outstanding Securities of such series, delivered to the Trustee and to the Company and, if
applicable, the Guarantor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;If at any time:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Trustee shall fail to comply with the provisions of TIA Section 310(b) after
written request therefor by the Company, the Guarantor or by any Holder who has been a bona
fide Holder of a Security for at least six months, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Trustee shall cease to be eligible under Section&nbsp;607 and shall fail to resign
after written request therefor by the Company, the Guarantor or by any Holder who has been a
bona fide Holder of a Security for at least six months, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or
insolvent or a receiver of the Trustee or of its property shall be appointed or any public
officer shall take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation,
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">then, in any such case, (i)&nbsp;the Company, by a Board Resolution, may remove the Trustee with respect
to all Securities, or (ii)&nbsp;subject to TIA Section&nbsp;315(e), any Holder who has been a bona fide
Holder of a Security for at least six months may, on behalf of himself and all others similarly
situated, petition any court of competent jurisdiction for the removal of the Trustee with respect
to all Securities and the appointment of a successor Trustee or Trustees.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the Securities of one or more
series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees
with respect to the Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of such series and
that at any time there shall be only one Trustee with respect to the Securities of any particular
series). If, within one year after such resignation, removal or incapability, or the occurrence of
such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed
by Act of the Holders of a majority in principal amount of the Outstanding Securities of such
series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall,
forthwith upon its acceptance of such appointment, become the successor Trustee with respect to the
Securities of such series and to that extent supersede the successor Trustee appointed by the
Company. If no successor Trustee with respect to the Securities of any series shall have been so
appointed by the Company or the Holders and accepted appointment in the manner hereinafter
provided, any Holder who has been a bona fide Holder of a Security of such series for at least six
months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such
series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The Company shall give notice of each resignation and each removal of the Trustee with
respect to the Securities of any series and each appointment of a successor Trustee with respect to
the Securities of any series to the Holders of Securities of such series in
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">the manner provided for in Section&nbsp;106. Each notice shall include the name of the successor
Trustee with respect to the Securities of such series and the address of its Corporate Trust
Office.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 609. <U>Acceptance of Appointment by Successor</U>. In case of the appointment
hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so
appointed shall execute, acknowledge and deliver to the Company, the Guarantor, the Subsidiary
Guarantors, if applicable, and to the retiring Trustee an instrument accepting such appointment,
and thereupon the resignation or removal of the retiring Trustee shall become effective and such
successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company, the
Guarantor, any Subsidiary Guarantor or the successor Trustee, such retiring Trustee shall, upon
payment of its charges, execute and deliver an instrument transferring to such successor Trustee
all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and
deliver to such successor Trustee all property and money held by such retiring Trustee hereunder,
subject nevertheless to its claim and lien provided for in Section&nbsp;606.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;In case of the appointment hereunder of a successor Trustee with respect to the Securities
of one or more (but not all) series, the Company, the Guarantor and the Subsidiary Guarantors, as
applicable, the retiring Trustee and each successor Trustee with respect to the Securities of one
or more series shall execute and deliver an indenture supplemental hereto wherein each successor
Trustee shall accept such appointment and which (1)&nbsp;shall contain such provisions as shall be
necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the
rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or
those series to which the appointment of such successor Trustee relates, (2)&nbsp;if the retiring
Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be
deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series as to which the retiring
Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3)&nbsp;shall add to
or change any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee, it being understood
that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of
the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate
and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the
execution and delivery of such supplemental indenture the resignation or removal of the retiring
Trustee shall become effective to the extent provided therein and each such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of that or those series to
which the appointment of such successor Trustee relates; but, on request of the Company, the
Guarantor or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver
to such successor Trustee all property and money held by such retiring Trustee hereunder with
respect to the Securities of that or those series to which the appointment of such successor
Trustee relates, subject nevertheless to its claim and lien provided for in Section&nbsp;606. Whenever
there is a successor Trustee with respect to one or more (but less than all) series of securities
issued pursuant to this Indenture, the terms &#147;Indenture&#148; and &#147;Securities&#148; shall have the meanings
specified in the provisos to the respective definitions of those terms in Section&nbsp;101 which
contemplate such situation.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Upon request of any such successor Trustee, the Company and, if applicable, the Guarantor
and any Subsidiary Guarantors, as applicable, shall execute any and all instruments for more fully
and certainly vesting in and confirming to such successor Trustee all such rights, powers and
trusts referred to in paragraph (a)&nbsp;or (b)&nbsp;of this Section, as the case may be.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;No successor Trustee shall accept its appointment unless at the time of such acceptance
such successor Trustee shall be qualified and eligible under this Article.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 610. <U>Merger, Conversion, Consolidation or Succession to Business</U>. Any
corporation into which the Trustee may be merged or converted or with which it may be consolidated,
or any corporation resulting from any merger, conversion or consolidation to which the Trustee
shall be a party, or any corporation succeeding to all or substantially all the corporate trust
business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation
shall be otherwise qualified and eligible under this Article, without the execution or filing of
any paper or any further act on the part of any of the parties hereto. In case any Securities or
coupons shall have been authenticated, but not delivered, by the Trustee then in office, any
successor by merger, conversion or consolidation to such authenticating Trustee may adopt such
authentication and deliver the Securities or coupons so authenticated with the same effect as if
such successor Trustee had itself authenticated such Securities or coupons. In case any of the
Securities shall not have been authenticated by such predecessor Trustee, any successor Trustee may
authenticate and deliver such Securities or coupons either in the name of any predecessor hereunder
or in the name of the successor Trustee. In all such cases such certificates shall have the full
force and effect which this Indenture provides for the certificate of authentication of the
Trustee; <u>provided</u>, <u>however</u>, that the right to adopt the certificate of authentication of any
predecessor Trustee or to authenticate Securities in the name of any predecessor Trustee shall
apply only to its successor or successors by merger, conversion or consolidation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 611. <U>Appointment of Authenticating Agent</U>. At any time when any of the
Securities remain Outstanding, the Trustee may appoint an Authenticating Agent or Agents with
respect to one or more series of Securities which shall be authorized to act on behalf of the
Trustee to authenticate Securities of such series and the Trustee shall give written notice of such
appointment to all Holders of Securities of the series with respect to which such Authenticating
Agent will serve, in the manner provided for in Section&nbsp;106. Securities so authenticated shall be
entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if
authenticated by the Trustee hereunder. Any such appointment shall be evidenced by an instrument
in writing signed by a Responsible Officer of the Trustee, and a copy of such instrument shall be
promptly furnished to the Company. Wherever reference is made in this Indenture to the
authentication and delivery of Securities by the Trustee or the Trustee&#146;s certificate of
authentication, such reference shall be deemed to include authentication and delivery on behalf of
the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of
the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the
Company and shall at all times be a corporation organized and doing business under the laws of the
United States of America, any state thereof or the District of Columbia, authorized under such laws
to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000
and subject to supervision or examination by federal or
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">state authority. If such corporation publishes reports of condition at least annually,
pursuant to law or to the requirements of said supervising or examining authority, then for the
purposes of this Section, the combined capital and surplus of such corporation shall be deemed to
be its combined capital and surplus as set forth in its most recent report of condition so
published. If at any time an Authenticating Agent shall cease to be eligible in accordance with
the provisions of this Section, it shall resign immediately in the manner and with the effect
specified in this Section.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any corporation into which an Authenticating Agent may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or consolidation to
which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate
agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible under this Section,
without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee
and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by
giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such
a notice of resignation or upon such a termination, or in case at any time such Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may
appoint a successor Authenticating Agent which shall be acceptable to the Company and shall give
written notice of such appointment to all Holders of Securities of the series with respect to which
such Authenticating Agent will serve, in the manner provided for in Section&nbsp;106. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the
rights, powers and duties of its predecessor hereunder, with like effect as if originally named as
an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section, and the Trustee shall be entitled to be
reimbursed for such payments, subject to the provisions of Section&nbsp;606.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an appointment with respect to one or more series is made pursuant to this Section, the
Securities of such series may have endorsed thereon, in addition to the Trustee&#146;s certificate of
authentication, an alternate certificate of authentication in the following form:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dated: &#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">U. S. Bank National Association,<BR>
as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>




<P align="center" style="font-size: 10pt"><!-- Folio -->62<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center">as Authenticating Agent&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center">Authorized Officer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">ARTICLE SEVEN
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">HOLDERS&#146; LISTS AND REPORTS BY TRUSTEE, COMPANY AND GUARANTOR
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 701. <U>Disclosure of Names and Addresses of Holders</U>. Every Holder of
Securities or coupons, by receiving and holding the same, agrees with the Company, the Guarantor,
the Subsidiary Guarantors, as applicable, and the Trustee that none of the Company, the Guarantor,
the Subsidiary Guarantors, as applicable, or the Trustee or any agent of any of them shall be held
accountable by reason of the disclosure of any such information as to the names and addresses of
the Holders in accordance with TIA Section&nbsp;312, regardless of the source from which such
information was derived, and that the Trustee shall not be held accountable by reason of mailing
any material pursuant to a request made under TIA Section&nbsp;312(b).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 702. <U>Reports by Trustee</U>. Within 60&nbsp;days after May&nbsp;15 of each year
commencing with the first May&nbsp;15 after the first issuance of Securities pursuant to this Indenture,
the Trustee shall transmit to the Holders of Securities, in the manner and to the extent provided
in TIA Section&nbsp;313(c), a brief report dated as of such May&nbsp;15 if required by TIA Section&nbsp;313(a).
The Company will promptly notify the Trustee when any series of Securities are listed on any stock
exchange and of any delisting thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A copy of each such report shall, at the time of such transmission to Holders, be filed by the
Trustee with each stock exchange if any, upon which the Securities are listed, with the Company and
the Guarantor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 703. <U>Reports by Company</U>. The Company and so long as any Securities in
respect of which Guarantees are Outstanding, the Guarantor shall:
</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) file with the Trustee, within 15&nbsp;days after the Company or the Guarantor, as the
case may be, has filed the same with the Commission, 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 Commission may from time to time by rules and regulations prescribe) which the
Company or the Guarantor, as the case may be, may be required to file with the Commission
pursuant to Section&nbsp;13 or Section 15(d) of the Securities Exchange Act of 1934; or, if the
Company or the Guarantor, as the case may be, is not required to file information, documents
or reports pursuant to either of such Sections, then it shall file with the Trustee and the
Commission, in accordance with rules and regulations prescribed from time to time by the
Commission, such of the supplementary and periodic information, documents and reports which
may be required pursuant to Section&nbsp;13 of the Securities Exchange Act of 1934 in respect of
a security listed and
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">registered on a national securities exchange as may be prescribed from time to time in
such rules and regulations;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) file with the Trustee and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such additional information, documents and
reports with respect to compliance by the Company or the Guarantor, as the case may be, with
the conditions and covenants of this Indenture as may be required from time to time by such
rules and regulations; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) transmit to all Holders, in the manner and to the extent provided in TIA Section
313(c), within 30&nbsp;days after the filing thereof with the Trustee, such summaries of any
information, documents and reports required to be filed by the Company or the Guarantor, as
the case may be, pursuant to paragraphs (1)&nbsp;and (2)&nbsp;of this Section as may be required by
rules and regulations prescribed from time to time by the Commission.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee&#146;s receipt of such shall not constitute constructive notice of any
information contained therein or determinable from information contained therein, including the
Company&#146;s compliance with any of its covenants hereunder (as to which the Trustee is entitled to
rely exclusively on Officer&#146;s Certificates).
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE EIGHT
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 801. <U>Company and Guarantor May Consolidate, etc., Only on Certain Terms</U>.
The Company or the Guarantor may not consolidate with or merge into any other Person or convey,
transfer or lease their properties and assets substantially as an entirety to any Person, unless:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The successor or transferee Person, if other than the Company or the Guarantor, as
the case may be) formed by such consolidation or into which the Company is merged is a
corporation organized and existing under the laws of the United States, any state thereof or
the District of Columbia and expressly assumes by an indenture supplemental hereto, executed
and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual
payment of the principal of (and premium, if any) and interest on each series of Outstanding
Securities and the performance of every covenant of this Indenture on the part of the
Company to be performed or observed by the Company or the Guarantor, as the case may be;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) immediately after giving effect to such transaction, no Event of Default and no
event which, after notice or lapse of time or both, would become an Event of Default shall
have occurred and be continuing; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the Company or the Guarantor, as the case may be, has delivered to the Trustee an
Officer&#146;s Certificate and an Opinion of Counsel, each stating that such
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">consolidation, merger, conveyance or transfer and, if a supplemental indenture is
required in connection with such transaction, such supplemental indenture comply with this
Article and that all conditions precedent herein provided for relating to such transaction
have been complied with.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 802. <U>Successor Person Substituted</U>. Upon any consolidation by the Company or
the Guarantor with or merger by the Company or the Guarantor, as the case may be, with or into any
other corporation or any conveyance, transfer or lease of the properties and assets of the Company
or the Guarantor, as the case may be, substantially as an entirety to any Person in accordance with
Section&nbsp;801, the successor Person formed by such consolidation or into which the Company is merged
or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for,
and may exercise every right and power of, and be subject to every obligation of, the Company or
the Guarantor, as the case may be, under this Indenture with the same effect as if such successor
Person had been named as the Company or the Guarantor, as the case may be, herein, and in the event
of any such conveyance or transfer, the Company or the Guarantor, as the case may be (which terms
shall for this purpose mean the Person named as the &#147;Company&#148; or the &#147;Guarantor&#148;, as the case may
be, in the first paragraph of this Indenture or any successor Person which shall theretofore become
such in the manner described in Section&nbsp;801), except in the case of a lease, shall be discharged of
all obligations and covenants under this Indenture and the Securities and any coupons appertaining
thereto, or the Guarantees, as the case may be, and may be dissolved and liquidated.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE NINE
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">SUPPLEMENTAL INDENTURES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 901. <U>Supplemental Indentures Without Consent of Holders</U>. Without the
consent of any Holders, the Company and if applicable, the Guarantor and any Subsidiary Guarantors,
when authorized by or pursuant to a Board Resolution, and the Trustee, at any time and from time to
time, may enter into one or more indentures supplemental hereto, in form satisfactory to the
Trustee, for any of the following purposes:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) to evidence the succession of another Person to the Company or the Guarantor and
the assumption by any such successor of the covenants of the Company or the Guarantor, as
the case may be contained herein and in the Securities and the Guarantees in accordance with
Article&nbsp;Eight; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) to add to the covenants of the Company or the Guarantor for the benefit of the
Holders of all or any series of Securities and any related coupons (and if such covenants
are to be for the benefit of less than all series of Securities, stating that such covenants
are being included solely for the benefit of such series) or to surrender any right or power
herein conferred upon the Company or the Guarantor; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) to add any additional Events of Default for the benefit of the Holders of all or
any series of Securities and any related coupons (and if such Events of Default are to
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">be for the benefit of less than all series of Securities, stating that such Events of
Default are being included solely for the benefit of such series); or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) to add to or change any of the provisions of this Indenture to provide that Bearer
Securities may be registrable as to principal, to change or eliminate any restrictions on
the payment of principal of or any premium or interest on Bearer Securities, to permit
Bearer Securities to be issued in exchange for Registered Securities, to permit Bearer
Securities to be issued in exchange for Bearer Securities of other authorized denominations
or to permit or facilitate the issuance of Securities in uncertificated form; provided that
any such action shall not adversely affect the interests of the Holders of Securities of any
series or any related coupons in any material respect; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) to change or eliminate any of the provisions of this Indenture; provided that any
such change or elimination shall become effective only when there is no Security Outstanding
of any series created prior to the execution of such supplemental indenture which is
entitled to the benefit of such provision; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) to secure the Securities pursuant to the requirements of Section&nbsp;1009 or otherwise;
or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) to establish the form or terms of Securities of any series and any related coupons
as permitted by Sections&nbsp;201 and 301, including the form or terms of any Subsidiary
Guarantor&#146;s Guarantee of the Securities and/or the provisions and procedures relating to
Securities convertible into or exchangeable for any securities of any Person (including the
Company or Guarantor); or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) to evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more series and to add to or change any of
the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, pursuant to the
requirements of Section&nbsp;609(b); or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) to cure any ambiguity, to correct or supplement any provision herein which may be
inconsistent with any other provision herein, or to make any other provisions with respect
to matters or questions arising under this Indenture; provided such action shall not
adversely affect the interests of the Holders of Securities of any series and any related
coupons in any material respect;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) to add any guarantors with respect to the Securities of any series; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) to supplement any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the defeasance and discharge of any series of Securities
pursuant to Sections&nbsp;401, 1402 and 1403; provided that any such action shall not adversely
affect the interests of the Holders of Securities of such series and any related coupons or
any other series of Securities in any material respect.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 902. <U>Supplemental Indentures with Consent of Holders</U>. With the consent of
the Holders of not less than a majority in principal amount of all Outstanding Securities of each
series affected by such supplemental indenture, by Act of said Holders delivered to the Company and
the Trustee, the Company, and, if applicable, the Guarantor and any Subsidiary Guarantor when
authorized by or pursuant to a Board Resolution, and the Trustee may enter into an indenture or
indentures supplemental hereto for the purpose of adding any provisions to or changing in any
manner or eliminating any of the provisions of this Indenture which affect such series of
Securities or of modifying in any manner the rights of the Holders of Securities of such series
under this Indenture; <u>provided</u>, <u>however</u>, that no such supplemental indenture shall, without the
consent of the Holder of each Outstanding Security affected thereby,
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) change the Stated Maturity of the principal of (or premium, if any) or any
installment of principal of or interest on any Security of such series; or the terms of any
sinking fund with respect to any Security; or reduce the principal amount thereof (or
premium, if any) or the rate of interest, if any, thereon, or any premium payable upon the
redemption thereof, or repayment thereof, or repayment thereof at the option of the Holder,
or change any obligation of the Company to pay Additional Amounts contemplated by Section
1011 (except as contemplated by Section&nbsp;801(1) and permitted by Section&nbsp;901(1)), or reduce
the amount of the principal of an Original Issue Discount Security of such series that would
be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to
Section&nbsp;502, or upon the redemption thereof, or the amount thereof provable in bankruptcy
pursuant to Section&nbsp;504, or adversely affect any right of repayment at the option of any
Holder of any Security of such series, or change any Place of Payment where, or the Currency
in which, any Security of such series or any premium or interest thereon is payable; or
impair the right to institute suit for the enforcement of any such payment on or after the
Stated Maturity thereof (or, in the case of redemption or repayment at the option of the
Holder, on or after the Redemption Date or Repayment Date, as the case may be), or modify
the provisions of this Indenture with respect to the mandatory redemption of Securities or
repayment of the securities at the option of the Holder in a manner adverse to any Holder of
any Securities or any coupons appertaining thereto, adversely affect any right to convert or
exchange any Security as may be provided pursuant to Section&nbsp;301 herein, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) reduce the percentage in principal amount of the Outstanding Securities of any
series, the consent of whose Holders is required for any such supplemental indenture, for
any waiver of compliance with certain provisions of this Indenture which affect such series
or certain defaults applicable to such series hereunder and their consequences provided for
in this Indenture, or reduce the requirements of Section&nbsp;1504 for quorum or voting with
respect to Securities of such series, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) modify any of the provisions of this Section or Section&nbsp;513, except to increase any
such percentage or to provide that certain other provisions of this Indenture which affect
such series cannot be modified or waived without the consent of the Holder of each
Outstanding Security affected thereby, or
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) reduce the terms and conditions of any obligations of the Guarantor in respect of
the due and punctual payment of the principal of and premium, if any, and interest, if any,
on any Security of such series.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It shall not be necessary for any Act of Holders under this Section to approve the particular
form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve
the substance thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 903. <U>Execution of Supplemental Indentures</U>. In executing, or accepting the
additional trusts created by, any supplemental indenture permitted by this Article or the
modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to
receive, and shall be fully protected in relying upon, an Opinion of Counsel stating that the
execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee
may, but shall not be obligated to, enter into any such supplemental indenture which affects the
Trustee&#146;s own rights, duties or immunities under this Indenture or otherwise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 904. <U>Effect of Supplemental Indentures</U>. Upon the execution of any
supplemental indenture under this Article, this Indenture shall be modified in accordance
therewith, and such supplemental indenture shall form a part of this Indenture for all purposes;
and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder and
of any coupon appertaining thereto shall be bound thereby.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 905. <U>Conformity with Trust Indenture Act</U>. Every supplemental indenture
executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as
then in effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 906. <U>Reference in Securities to Supplemental Indentures</U>. Securities of any
series authenticated and delivered after the execution of any supplemental indenture pursuant to
this Article shall if required by the Company, bear a notation as to any matter provided for in such supplemental indenture. If the Company shall so
determine, new Securities of any series so modified as to conform, in the opinion of the Trustee,
the Company and, if applicable, the Guarantor, to any such supplemental indenture may be prepared
and executed by the Company having, if applicable, Guarantees endorsed thereon and executed by the
Guarantor and the Subsidiary Guarantors, if applicable, and authenticated and delivered (which
delivery, in the case of Bearer Securities, shall occur only outside the United States) by the
Trustee in exchange for Outstanding Securities of such series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 907. <U>Notice of Supplemental Indentures</U>. Promptly after the execution by the
Company and the Trustee of any supplemental indenture pursuant to the provisions of Section&nbsp;902,
the Company shall give notice thereof to the Holders of each Outstanding Security affected, in the
manner provided for in Section&nbsp;106, setting forth in general terms the substance of such
supplemental indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 908. <U>Effect on Senior Indebtedness</U>. No supplemental indenture shall
adversely affect the rights of any holder of Senior Indebtedness without the consent of such
holder.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE TEN
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COVENANTS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1001. <U>Payment of Principal, Premium, if Any, and Interest</U>. The Company
covenants and agrees for the benefit of the Holders of each series of Securities and any related
coupons that it will duly and punctually pay the principal of and any premium and interest on the
Securities of that series in accordance with the terms of the Securities, any coupons appertaining
thereto and this Indenture. Unless specified as contemplated by Section&nbsp;301 with respect to any
series of Securities, any interest installments due on Bearer Securities on or before Maturity
shall be payable only upon presentation and surrender of the several coupons for such interest
installments as are evidenced thereby as they severally mature.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1002. <U>Maintenance of Office or Agency</U>. If the Securities of a series are
issuable only as Registered Securities, the Company will maintain in each Place of Payment for any
series of Securities an office or agency where the Securities may be presented or surrendered for
payment, where the Securities may be surrendered for registration of transfer or exchange, where
Securities of that series that are convertible or exchangeable may be surrendered for conversion or
exchange, as applicable, and where notices and demands to or upon the Company in respect of the
Securities and this Indenture may be served. The Company will 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 shall fail to maintain any such required office or agency or shall fail 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 except that Bearer Securities of any series
and related coupons may be presented and surrendered for payment only outside the United States, at
the offices specified in the Security, and the Company hereby appoints the Trustee as its agent to
receive all such presentations, surrenders, notices and demands. Unless otherwise specified with
respect to any Securities as contemplated by Section&nbsp;301 with respect to a series of Securities,
the Company hereby designates as a Place of Payment for each series of Securities the office or
agency of the Trustee in the Borough of Manhattan, The City of New York, and initially appoints the
Trustee at its Corporate Trust Office as Paying Agent in such city and as its agent to receive all
such presentations, surrenders, notices and demands.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified with respect to any Securities pursuant to Section&nbsp;301, no payment
of principal, premium or interest on Bearer Securities shall be made at any office or agency of the
Company in the United States or by check mailed to any address in the United States or by transfer
to an account maintained with a bank located in the United States; <u>provided</u>, <u>however</u>, that, if the
Securities of a series are payable in Dollars, payment of principal of (and premium, if any) and
interest, if any, on any Bearer Security shall be made at the office of the Company&#146;s Paying Agent
in The City of New York, if (but only if) payment in Dollars of the full amount of such principal,
premium or interest, as the case may be, at all offices or agencies outside the United States
maintained for such purpose by the Company in accordance with this Indenture is illegal or
effectively precluded by exchange controls or other similar restrictions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may also from time to time designate one or more other offices or agencies where
the Securities of one or more series may be presented or surrendered for any or
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all such purposes and may from time to time rescind any such designation; <U>provided</U>,
<U>however</U>, that no such designation or rescission shall in any manner relieve the Company of
its obligation to maintain an office or agency in accordance with the requirements set forth above
for Securities of any series for such purposes. The Company will 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. Unless otherwise specified with respect to any Securities as contemplated by
Section&nbsp;301 with respect to a series of Securities, the Company hereby designates as a Place of
Payment for each series of Securities the office or agency of the Trustee in the Borough of
Manhattan, The City of New York, and initially appoints the Trustee at its Corporate Trust Office
as Paying Agent in such city and as its agent to receive all such respective presentations,
surrenders, notices and demands.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified with respect to any Securities pursuant to Section&nbsp;301, if and so
long as the Securities of any series (i)&nbsp;are denominated in a Currency other than Dollars or (ii)
may be payable in a Currency other than Dollars, or so long as it is required under any other
provision of the Indenture, then the Company will maintain with respect to each such series of
Securities, or as so required, at least one Exchange Rate Agent.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1003. <U>Money for Securities Payments to Be Held in Trust</U>. If the Company,
the Guarantor or any Subsidiary Guarantor shall at any time act as its own Paying Agent with
respect to any series of Securities and any related coupons, it will, on or before each due date of
the principal of or any premium and interest on any of the Securities of that series, segregate and
hold in trust for the benefit of the Persons entitled thereto a sum in the Currency in which the
Securities of such series are payable (except as otherwise specified pursuant to Section&nbsp;301 for
the Securities of such series and except, if applicable, as provided in Sections&nbsp;312(b), 312(d) and
312(e)) sufficient to pay the principal and any premium and interest on Securities of such series
so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein
provided and will promptly notify the Trustee of its action or failure so to act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever the Company shall have one or more Paying Agents for any series of Securities and any
related coupons, it will, prior to each due date of the principal of or any premium and interest on
any Securities, deposit with a Paying Agent a sum (in the Currency described in the preceding
paragraph) sufficient to pay such amount so becoming due, such sum to be held as provided by the
Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly notify
the Trustee of its action or failure so to act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will cause each Paying Agent for any series of Securities other than the Trustee
to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the
Trustee, subject to the provisions of this Section, that such Paying Agent will (i)&nbsp;comply with the
provisions of the Trust Indenture Act applicable to it as a Paying Agent and (ii)&nbsp;during the
continuance of any default by the Company (or any other obligor upon the Securities) in the making
of any payment in respect of the Securities, and upon written request of the Trustee, forthwith pay
to the Trustee all sums held in trust by such Paying Agent for payment in respect of the
Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying
Agent, such sums to be held by the Trustee upon the same trusts as those upon which sums were held
by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee,
such Paying Agent shall be released from all further liability with respect to such sums.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in the Securities of any series, and subject to any applicable abandoned
Property laws, any money deposited with the Trustee or any Paying Agent, or then held by the
Company, in trust for the payment of the principal of or any premium or interest on any Security of
any series, or any coupon appertaining thereto, and remaining unclaimed for two years after such
principal, premium and interest has become due and payable shall be paid to the Company on Company
Request, or (if then held by the Company or the Guarantor) shall be discharged from such trust; and
the Holder of such Security or coupon shall thereafter, as an unsecured general creditor, look only
to the Company and, if applicable, the Guarantor for payment thereof, and all liability of the
Trustee or such Paying Agent with respect to such trust money, and all liability of the Company or
the Guarantor as trustee thereof, shall thereupon cease; <U>provided</U>, <U>however</U>, that
the Trustee or such Paying Agent, before being required to make any such repayment, may at the
expense of the Company cause to be published once, in an Authorized Newspaper in each Place of
Payment, notice that such money remains unclaimed and that, after a date specified therein, which
shall not be less than 30&nbsp;days from the date of such publication, any unclaimed balance of such
money then remaining will be repaid to the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1004. <U>Statement by Officers as to Default</U>. (a)&nbsp;The Company and the
Guarantor will deliver to the Trustee, within 120&nbsp;days after the end of each fiscal year of the
Company ending after the date hereof, an Officers&#146; Certificate, one of the signers of which shall
be the principal executive officer, principal financial officer or principal accounting officer of
the Company or the Guarantor, as the case may be, stating whether or not to the best knowledge of
the signers thereof the Company or the Guarantor, as the case may be is in default in the
performance and observance of any of the terms, provisions and conditions of this Indenture
(without regard to any period of grace or requirement of notice provided hereunder) and, if the
Company or the Guarantor shall be in default, specifying all such defaults and the nature and
status thereof of which they may have knowledge.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Company and the Guarantor shall, so long as any of Securities of any series are
Outstanding, deliver to the Trustee, forthwith, but in no event later than 30 Business Days, upon
any Officer becoming aware of any event which after notice or lapse of time would become a Default
or Event of Default under clauses (4)&nbsp;or (6)&nbsp;of Section&nbsp;501, a notice specifying such Default or
Event of Default and what action the Company or the Guarantor, as the case may be is taking or
proposes to take with respect thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1005. <U>Existence</U>. Subject to Article&nbsp;Eight, the Company and, so long as any
Securities in respect of which Guarantees have been issued are Outstanding, the Guarantor will do
or cause to be done all things necessary to preserve and keep in full force and effect its
existence, rights (charter and statutory) and franchises; <u>provided</u>, <u>however</u>, that neither the
Company nor the Guarantor shall be required to preserve any such right or franchise if its Board of
Directors shall determine that the preservation thereof is no longer desirable in the
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">conduct of the business of the Company or the Guarantor, as the case may be, and that the loss
thereof is not disadvantageous in any material respect to the Holders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1006. <U>Limitation on Liens</U>. Unless otherwise indicated with respect to the
Securities, the Company and Holdings each agree that it will not, and will not permit any
Restricted Subsidiary to, create, incur, issue, assume or guarantee any indebtedness for money
borrowed (&#147;Debt&#148;), secured by a Mortgage upon any Operating Property, or upon shares of capital
stock or Debt issued by any Restricted Subsidiary and owned by the Company or Holdings or any
Restricted Subsidiary, whether owned at the date of this Indenture or hereafter acquired, without
effectively providing concurrently that the Outstanding Securities under this Indenture are secured
equally and ratably with or, at the option of the Company, prior to such Debt so long as such Debt
shall be so secured. Unless, at the time of such creation, incurrence, issuance, assumption or
guarantee, after giving effect thereto and to the retirement of any Debt which is concurrently
being retired, the aggregate amount of all such Debt secured by Mortgages which would otherwise be
subject to such restrictions (other than any Debt secured by Mortgages permitted in clauses (1)
through (7)&nbsp;of this Section&nbsp;1006) plus all Attributable Debt of the Company, Holdings, and the
Restricted Subsidiaries in respect of Sale and Leaseback Transactions with respect to Operating
Properties (with the exception of such Sale and Leaseback Transactions permitted under clauses (1)
through (4)&nbsp;of Section&nbsp;1007) does not exceed 10% of Consolidated Net Tangible Assets; provided,
however, that this Section shall not apply to, and there shall be excluded from Debt in any
computation under this Section, Debt secured by:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Mortgages on property existing at the time of the acquisition thereof;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Mortgages on property of a corporation existing at the time such corporation is
merged into or consolidated with the Company, Holdings or a Restricted Subsidiary or at the
time of a sale, lease or other disposition of the properties of such corporation (or a
division thereof) as an entirety or substantially as an entirety to the Company, Holdings or
a Restricted Subsidiary, <U>provided</U> that any such Mortgage does not extend to any
property owned by the Company, Holdings or any Restricted Subsidiary immediately prior to
such merger, consolidation, sale, lease or disposition;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Mortgages on property of a corporation existing at the time such corporation
becomes a Restricted Subsidiary;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Mortgages in favor of the Company, Holdings or a Restricted Subsidiary;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Mortgages to secure all or part of the cost of acquisition, construction,
development or improvement of the underlying property, or to secure Debt incurred to provide
funds for any such purpose, <U>provided</U> that the commitment of the creditor to extend
the credit secured by any such Mortgage shall have been obtained no later than 360&nbsp;days
after the later of (a)&nbsp;the completion of the acquisition, construction, development or
improvement of such property or (b)&nbsp;the placing in operation of such property;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Mortgages in favor of the United States of America or any State thereof, or any
department, agency or instrumentality or political subdivision thereof, to secure partial,
progress, advance or other payments; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Mortgages existing on the date of this Indenture or any extension, renewal,
replacement or refunding of any Debt secured by a Mortgage existing on the date of this
Indenture or referred to in clauses (1)&nbsp;to (3)&nbsp;or (5)&nbsp;of this Section&nbsp;1006, <U>provided</U>
that any such extension, renewal, replacement or refunding of such Debt shall be created
within 360&nbsp;days of repaying the Debt secured by the Mortgage referred to in clauses (1)&nbsp;to
(3)&nbsp;or (5)&nbsp;and any such extension, renewal, replacement or refunding of such Debt shall be
created within 360&nbsp;days of repaying the Debt secured by the Mortgage referred to in clauses
(1)&nbsp;to (3)&nbsp;or (5)&nbsp;and the principal amount of Debt secured thereby and not otherwise
authorized by clauses (1)&nbsp;to (3)&nbsp;or (5)&nbsp;shall not exceed the principal amount of Debt, plus
any premium or fee payable in connection with any such extension, renewal, replacement or
refunding, so secured at the time of such extension, renewal, replacement or refunding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1007. <U>Limitation on Sale and Leaseback Transactions</U>. Unless otherwise
indicated with respect to any series of Securities, the Company and Holdings each agree as to the
Securities, that it will not, and it will not permit any Restricted Subsidiary to, enter into any
Sale and Leaseback Transaction with respect to any Operating Property unless:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Sale and Leaseback Transaction is solely with the Company, Holdings or another
Restricted Subsidiary;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the lease is for a period not in excess of twenty-four months, including renewals;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the Company, Holdings or such Restricted Subsidiary would (at the time of entering
into such arrangement) be entitled as described in clauses (1)&nbsp;through (7)&nbsp;of Section&nbsp;1006,
without equally and ratably securing the Securities then outstanding under this Indenture,
to create, incur, issue, assume or guarantee Debt secured by a Mortgage on such Operating
Property in the amount of the Attributable Debt arising from such Sale and Leaseback
Transaction;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the Company, Holdings or such Restricted Subsidiary within 360&nbsp;days after the sale
of such Operating Property in connection with such Sale and Leaseback Transaction is
completed, applies an amount equal to the greater of (A)&nbsp;the net proceeds of the sale of
such Operating Property or (B)&nbsp;the fair market value of such Operating Property to (i)&nbsp;the
retirement of Securities, other Funded Debt of the Company or Holdings ranking on a parity
with the Securities or Funded Debt of a Restricted Subsidiary or (ii)&nbsp;the purchase of
Operating Property; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) the Attributable Debt of the Company, Holdings and its Restricted Subsidiaries in
respect of such Sale and Leaseback Transaction and all other Sale and Leaseback Transactions
entered into after the date of this Indenture (other than any such Sale and Leaseback
Transactions as would be permitted as described in clauses (1)
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">through (4)&nbsp;of this Section&nbsp;1007), plus the aggregate principal amount of Debt secured
by Mortgages on Operating Properties then Outstanding (not including any such Debt secured
by Mortgages described in clauses (1)&nbsp;through (7)&nbsp;of Section&nbsp;1006) which do not equally and
ratably secure such Outstanding Security (or secure such Outstanding Security on a basis
that is prior to other Debt secured thereby), would not exceed 10% of Consolidated Net
Tangible Assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1008. <U>SEC and Other Reports</U>. The Guarantor shall deliver to the Trustee,
within 15&nbsp;days after it files such annual and quarterly reports, information, documents and other
reports with the SEC, copies of its annual report 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 Guarantor is required to file with the SEC pursuant to Section&nbsp;13 or 15 (d)&nbsp;of
the Exchange Act. The Guarantor also shall comply with the provisions of TIA Section&nbsp;314(a).
Delivery of such reports, information and documents to the Trustee is for informational purposes
only and the Trustee&#146;s receipt of the same shall not constitute constructive notice of any
information contained therein or determinable from information contained therein, including the
Guarantor&#146;s compliance with any of its covenants hereunder (as to which the Trustee is entitled to
rely exclusively on Officer&#146;s Certificate).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1009. <U>Further Instruments and Acts</U>. Upon request of the Trustee or as
otherwise necessary, the Company will execute and deliver such further instruments and do such
further acts or as otherwise necessary may be reasonably necessary or proper to carry out more
effectively the purposes of this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1010. <U>Calculation of Original Issue Discount</U><B><I>. </I></B>Upon request of the Trustee,
the Company shall file with the Trustee promptly at the end of each calendar year a written notice
specifying the amount of original issue discount (including daily rates and accrual periods), if
any, accrued on Outstanding Securities as of the end of such year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1011. <U>Additional Amounts</U>. If any Securities of a series provide for the
payment of additional amounts to any Holder who is not a United States person in respect of any
tax, assessment or governmental charge (&#147;Additional Amounts&#148;), the Company will pay to the Holder
of any Security of such series or any coupon appertaining thereto such Additional Amounts as may be
specified as contemplated by Section&nbsp;301. Whenever in this Indenture there is mentioned, in any
context, the payment of the principal (or premium, if any) or interest, if any, on, or in respect
of, any Security of a series or payment of any related coupon or the net proceeds received on the
sale or exchange of any Security of a series, such mention shall be deemed to include mention of
the payment of Additional Amounts provided for by the terms of such series established pursuant to
Section&nbsp;301 to the extent that, in such context, Additional Amounts are, were or would be payable
in respect thereof pursuant to such terms and express mention of the payment of Additional Amounts
(if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in
those provisions hereof where such express mention is not made.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise specified as contemplated by Section&nbsp;301, if the Securities of a series
provide for the payment of Additional Amounts, at least 10&nbsp;days prior to the first Interest Payment
Date with respect to that series of Securities (or if the Securities of that series will not
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">bear interest prior to Maturity, the first day on which a payment of principal (and premium,
if any) is made), and at least 10&nbsp;days prior to each date of payment of principal (or premium, if
any) or interest if there has been any change with respect to the matters set forth in the
below-mentioned Officer&#146;s Certificate, the Company will furnish the Trustee and the Company&#146;s
principal Paying Agent or Paying Agents, if other than the Trustee, with an Officer&#146;s Certificate
instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal,
premium or interest on the Securities of that series shall be made to Holders of Securities of that
series or any related coupons who are not United States persons without withholding for or on
account of any tax, assessment or other governmental charge described in the Securities of the
series. If any such withholding shall be required, then such Officer&#146;s Certificate shall specify
by country the amount, if any, required to be withheld on such payments to such Holders of
Securities of that series or related coupons and the Company will pay to the Trustee or such Paying
Agent the Additional Amounts required by the terms of such Securities. In the event that the
Trustee or any Paying Agent, as the case may be, shall not so receive the above-mentioned
certificate, then the Trustee or such Paying Agent shall be entitled to (i)&nbsp;assume that no such
withholding or deduction is required with respect to any payment of principal of (or premium, if
any) or interest, if any, on any Securities of a series or related coupons until it shall have
received a certificate advising otherwise and (ii)&nbsp;to make all payments of principal of (and
premium, if any) and interest, if any, on the Securities of a series or related coupons without
withholding or deductions until otherwise advised. The Company covenants to indemnify the Trustee,
any Paying Agent, and their respective officers, directors, employees, and agents for, and to hold
them harmless against, any loss, liability or expense reasonably incurred without negligence or bad
faith on their part arising out of or in connection with actions taken or omitted by any of them in
reliance on any Officer&#146;s Certificate furnished pursuant to this Section. This sentence shall
survive the termination of this Indenture and the earlier resignation or removal of the Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1012. <U>Waiver of Certain Covenants</U>. The Company or the Guarantor, if
applicable, may, with respect to any series of Securities, omit in any particular instance to
comply with any term, provision or condition which affects such series set forth in Sections&nbsp;1005,
1006 and 1012, inclusive, or, as specified pursuant to Section&nbsp;301(15) for Securities of such
series, in any covenants of the Company added to Article&nbsp;Ten pursuant to Section&nbsp;301(14) or Section
301(15) in connection with Securities of such series, if the Holders of at least a majority in
principal amount of all Outstanding Securities affected by such term, provision or condition, by
Act of such Holders, waive such compliance in such instance with such term, provision or condition,
but no such waiver shall extend to or affect such term, provision or condition except to the extent
so expressly waived, and, until such waiver shall become effective, the obligations of the Company
and the duties of the Trustee to Holders of Securities of such series in respect of any such term,
provision or condition shall remain in full force and effect.
</DIV>






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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE ELEVEN
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">REDEMPTION OF SECURITIES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1101. <U>Applicability of Article</U>. Securities of any series which are
redeemable before their Stated Maturity shall be redeemable in accordance with the terms of such
Securities and (except as otherwise specified as contemplated by Section&nbsp;301 for Securities of any
series) in accordance with this Article.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1102. <U>Election to Redeem; Notice to Trustee</U>. The election of the Company to
redeem any Securities shall be evidenced by or pursuant to a Board Resolution. In case of any
redemption at the election of the Company, the Company shall, at least 60&nbsp;days prior to the
Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the
Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of
such series to be redeemed and shall deliver to the Trustee such documentation and records as shall
enable the Trustee to select the Securities to be redeemed pursuant to Section&nbsp;1103. In the case
of any redemption of Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish
the Trustee with an Officer&#146;s Certificate evidencing compliance with such restriction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1103. <U>Selection by Trustee of Securities to Be Redeemed</U>. If less than all
the Securities of any series are to be redeemed, the particular Securities to be redeemed shall be
selected not more than 60&nbsp;days prior to the Redemption Date by the Trustee, from the Outstanding
Securities of such series not previously called for redemption, by such method as the Trustee shall
deem fair and appropriate and which may provide for the selection for redemption of portions of the
principal of Securities of such series, subject to the rules and
procedures of the Depositary in the case of global notes; provided, however, that no such partial redemption shall
reduce the portion of the principal amount of a Security not redeemed to less than the minimum
authorized denomination for Securities of such series established pursuant to Section&nbsp;301.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption and, in the case of any Securities selected for partial redemption, the principal amount
thereof to be redeemed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Security redeemed or to
be redeemed only in part, to the portion of the principal amount of such Security which has been or
is to be redeemed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1104. <U>Notice of Redemption</U>. Except as otherwise specified as contemplated
by Section&nbsp;301 for Securities of any series, notice of redemption shall be given in the manner
provided for in Section&nbsp;106 not less than 30 nor more than 60&nbsp;days prior to the Redemption Date, to
each Holder of Securities to be redeemed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise specified as contemplated by Section&nbsp;301 for Securities of any series, all
notices of redemption shall state:
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Redemption Date,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Redemption Price (if known) or the formula pursuant to which the Redemption
Price is to be determined if the Redemption Price cannot be determined at the time the
notice is given,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) if less than all the Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the principal amounts) of the
particular Securities to be redeemed,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) in case any Security is to be redeemed in part only, the notice which relates to
such Security shall state that on and after the Redemption Date, upon surrender of such
Security, the holder will receive, without charge, a new Security or Securities of
authorized denominations for the principal amount thereof remaining unredeemed,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) that on the Redemption Date, the Redemption Price and accrued interest, if any, to
the Redemption Date payable as provided in Section&nbsp;1106 will become due and payable upon
each such Security, or the portion thereof, to be redeemed and, if applicable, that interest
thereon will cease to accrue on and after said date,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the Place or Places of Payment (which in the case of Bearer Securities shall be
outside the United States) where such Securities, together in the case of Bearer Securities
with all coupons appertaining thereto, if any, maturing after the Redemption Date, are to be
surrendered for payment of the Redemption Price and accrued interest, if any,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) that the redemption is for a sinking fund, if such is the case,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) that, unless otherwise specified in such notice, Bearer Securities of any series,
if any, surrendered for redemption must be accompanied by all coupons maturing subsequent to
the Redemption Date or the amount of any such missing coupon or coupons will be deducted
from the Redemption Price unless security or indemnity satisfactory to the Company, the
Guarantor, if applicable, the Trustee and any Paying Agent is furnished,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) if Bearer Securities of any series are to be redeemed and any Registered Securities
of such series are not to be redeemed, and if such Bearer Securities may be exchanged for
Registered Securities not subject to redemption on such Redemption Date pursuant to Section
305 or otherwise, the last date, as determined by the Company, on which such exchanges may
be made,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) the CUSIP, ISIN or other similar numbers, if any, assigned to such Securities;
provided, however, that such notice may state that no representation is made as to the
correctness of CUSIP, ISIN or other similar numbers, in which case none of the Company, the
Trustee or any agent of the Company or the Trustee shall have any liability in respect of
the use of any CUSIP, ISIN or other similar number or numbers on such notices, and the
redemption of such Securities shall not be affected by any defect in or omission of such
numbers, and
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) such other matters as the Company shall deem desirable or appropriate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company&#146;s request, by the Trustee in the name and at the expense of
the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1105. <U>Deposit of Redemption Price</U>. On or prior to any Redemption Date, the
Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its
own Paying Agent, which it may not do in the case of a sinking fund payment under Article&nbsp;Twelve,
segregate and hold in trust as provided in Section&nbsp;1003) an amount of money in the Currency in
which the Securities of such series are payable (except as otherwise specified pursuant to Section
301 for the Securities of such series and except, if applicable, as provided in Sections&nbsp;312(b),
312(d) and 312(e)) sufficient to pay on the Redemption Date the Redemption Price of, and (except if
the Redemption Date shall be an Interest Payment Date) accrued interest, if any, on, all the
Securities or portions thereof which are to be redeemed on that date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1106. <U>Securities Payable on Redemption Date</U>. Notice of redemption having
been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due
and payable at the Redemption Price therein specified in the Currency in which the Securities of
such series are payable (except as otherwise specified pursuant to Section&nbsp;301 for the Securities
of such series and except, if applicable, as provided in Sections&nbsp;312(b), 312(d) and 312(e))
(together with accrued interest, if any, to the Redemption Date), and from and after such date
(unless the Company and, if applicable, the Guarantor and the Subsidiary Guarantors, as applicable,
shall default in the payment of the Redemption Price and accrued interest, if any) such Securities
shall, if the same were interest-bearing, cease to bear interest and the coupons for such interest
appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall
be void. Upon surrender of any such Security for redemption in accordance with said notice,
together with all coupons, if any, appertaining thereto maturing after the Redemption Date, such
Security shall be paid by the Company at the Redemption Price, together with accrued interest, if
any, to the Redemption Date; provided, however, that installments of interest on Bearer Securities
whose Stated Maturity is on or prior to the Redemption Date shall be payable only at an office or
agency located outside the United States (except as otherwise provided in Section&nbsp;1002) and, unless
otherwise specified as contemplated by Section&nbsp;301, only upon presentation and surrender of coupons
for such interest; and <U>provided</U> <U>further</U> that installments of interest on Registered
Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the
Holders of such Securities, or one or more Predecessor Securities, registered as such at the close
of business on the relevant Record Dates according to their terms and the provisions of Section
307.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant
coupons maturing after the Redemption Date, such Security may be paid after deducting from the
Redemption Price an amount equal to the face amount of all such missing coupons, or the surrender
of such missing coupon or coupons may be waived by the Company and the Trustee if there be
furnished to them such security or indemnity as they may require to save each of them and any
Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the Trustee or
any Paying Agent any such missing coupon in respect of which a deduction shall have been made from
the Redemption Price, such Holder shall be entitled to
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">receive the amount so deducted; provided, however, that interest represented by coupons shall
be payable only at an office or agency located outside the United States (except as otherwise
provided in Section&nbsp;1002) and, unless otherwise specified as contemplated by Section&nbsp;301, only upon
presentation and surrender of those coupons.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate of interest or Yield to Maturity (in the case of Original Issue
Discount Securities) set forth in such Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1107. <U>Securities Redeemed in Part</U>. Any Security which is to be redeemed
only in part (pursuant to the provisions of this Article or of Article&nbsp;Twelve) shall be surrendered
at a Place of Payment therefor (with, if the Company, the Guarantor or the Trustee so requires, due
endorsement by, or a written instrument of transfer in form satisfactory to the Company, the
Guarantor and the Trustee duly executed by, the Holder thereof or such Holder&#146;s attorney duly
authorized in writing), and the Company shall execute, and the Trustee shall authenticate and
deliver to the Holder of such Security without service charge, a new Security or Securities of the
same series and of like tenor, of any authorized denomination as requested by such Holder, in
aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of
the Security so surrendered, with, if applicable, Guarantees endorsed thereon duly executed by the
Guarantor and the Subsidiary Guarantors, if applicable.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE TWELVE
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">SINKING FUNDS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1201. <U>Applicability of Article</U>. Retirements of Securities of any series
pursuant to any sinking fund shall be made in accordance with the terms of such Securities and
(except as otherwise specified as contemplated by Section&nbsp;301 for Securities of any series) in
accordance with this Article.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a &#147;mandatory sinking fund payment&#148;, and any payment in excess of
such minimum amount provided for by the terms of Securities of any series is herein referred to as
an &#147;optional sinking fund payment&#148;. If provided for by the terms of Securities of any series, the
cash amount of any mandatory sinking fund payment may be subject to reduction as provided in
Section&nbsp;1202. Each sinking fund payment shall be applied to the redemption of Securities of any
series as provided for by the terms of Securities of such series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1202. <U>Satisfaction of Sinking Fund Payments with Securities</U>. Subject to
Section&nbsp;1203, in lieu of making all or any part of any mandatory sinking fund payment with respect
to any Securities of a series in cash, the Company may at its option (1)&nbsp;deliver to the Trustee
Outstanding Securities of a series (other than any previously called for redemption) theretofore
purchased or otherwise acquired by the Company, together, in the case of any Bearer Securities of
such series, with all unmatured coupons appertaining thereto, and/or (2)&nbsp;receive credit for the
principal amount of Securities of such series which have been previously delivered
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">to the Trustee by the Company or for Securities of such series which have been redeemed either
at the election of the Company pursuant to the terms of such Securities or through the application
of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case
in satisfaction of all or any part of any mandatory sinking fund payment with respect to the
Securities of the same series required to be made pursuant to the terms of such Securities as
provided for by the terms of such series; provided, however, that such Securities have not been
previously so credited. Such Securities shall be received and credited for such purpose by the
Trustee at the Redemption Price specified in such Securities for redemption through operation of
the sinking fund and the amount of such mandatory sinking fund payment shall be reduced
accordingly.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1203. <U>Redemption of Securities for Sinking Fund</U>. Not less than 60&nbsp;days
prior to each sinking fund payment date for any series of Securities, the Company will deliver to
the Trustee an Officer&#146;s Certificate specifying the amount of the next ensuing sinking fund payment
for that series pursuant to the terms of that series, the portion thereof, if any, which is to be
satisfied by payment of cash in the Currency in which the Securities of such series are payable
(except as otherwise specified pursuant to Section&nbsp;301 for the Securities of such series and
except, if applicable, as provided in Sections&nbsp;312(b), 312(d) and 312(e)) and the portion thereof,
if any, which is to be satisfied by delivering or crediting Securities of that series pursuant to
Section&nbsp;1202 (which Securities will, if not previously delivered, accompany such certificate) and
whether the Company intends to exercise its right to make a permitted optional sinking fund payment
with respect to such series. Such certificate shall be irrevocable and upon its delivery the
Company shall be obligated to make the cash payment or payments therein referred to, if any, on or
before the next succeeding sinking fund payment date. In the case of the failure of the Company to
deliver such certificate, the sinking fund payment due on the next succeeding sinking fund payment
date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal
amount of such Securities subject to a mandatory sinking fund payment without the option to deliver
or credit Securities as provided in Section&nbsp;1202 and without the right to make any optional sinking
fund payment, if any, with respect to such series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not more than 60&nbsp;days before each such sinking fund payment date the Trustee shall select the
Securities to be redeemed upon such sinking fund payment date in the manner specified in Section
1103 and cause notice of the redemption thereof to be given in the name of and at the expense of
the Company in the manner provided in Section&nbsp;1104. Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner stated in Sections
1106 and 1107.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to any sinking fund payment date, the Company shall pay to the Trustee or a Paying Agent
(or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in
Section&nbsp;1003) in cash a sum equal to the principal (and premium, if any) and any interest that will
accrue to the date fixed for redemption of Securities or portions thereof to be redeemed on such
sinking fund payment date pursuant to this Section&nbsp;1203.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, with respect to a sinking fund for any series of Securities, if
at any time the amount of cash to be paid into such sinking fund on the next succeeding sinking
fund payment date, together with any unused balance of any preceding sinking fund payment or
payments for such series, does not exceed in the aggregate $100,000,
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">the Trustee, unless requested by the Company, shall not give the next succeeding notice of the
redemption of Securities of such series through the operation of the sinking fund. Any such unused
balance of moneys deposited in such sinking fund shall be added to the sinking fund payment for
such series to be made in cash on the next succeeding sinking fund payment date or, at the request
of the Company, shall be applied at any time or from time to time to the purchase of Securities of
such series, by public or private purchase, in the open market or otherwise, at a purchase price
for such Securities (excluding accrued interest and brokerage commissions, for which the Trustee or
any Paying Agent will be reimbursed by the Company) not in excess of the principal amount thereof.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE THIRTEEN
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">REPAYMENT AT OPTION OF HOLDERS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1301. <U>Applicability of Article</U>. Repayment of Securities of any series
before their Stated Maturity at the option of Holders thereof shall be made in accordance with the
terms of such Securities and (except as otherwise specified as contemplated by Section&nbsp;301 for
Securities of any series) in accordance with this Article.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1302. <U>Repayment of Securities</U>. Securities of any series subject to
repayment in whole or in part at the option of the Holders thereof will, unless otherwise provided
in the terms of such Securities, be repaid at the Repayment Price thereof, together with interest,
if any, thereon accrued to the Repayment Date specified in or pursuant to the terms of such
Securities. The Company covenants that on or before the Repayment Date it will deposit with the
Trustee or with a Paying Agent (or, if the Company, the Guarantor or any Subsidiary Guarantor is
acting as its own Paying Agent, segregate and hold in trust as provided in Section&nbsp;1003) an amount
of money in the Currency in which the Securities of such series are payable (except as otherwise
specified pursuant to Section&nbsp;301 for the Securities of such series and except, if applicable, as
provided in Sections&nbsp;312(b), 312(d) and 312(e)) sufficient to pay the Repayment Price of, and
(except if the Repayment Date shall be an Interest Payment Date) accrued interest, if any, on, all
the Securities or portions thereof, as the case may be, to be repaid on such date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1303. <U>Exercise of Option</U>. Securities of any series subject to repayment at
the option of the Holders thereof will contain an &#147;Option to Elect Repayment&#148; form on the reverse
of such Securities. To be repaid at the option of the Holder, any Security so providing for such
repayment, with the &#147;Option to Elect Repayment&#148; form on the reverse of such Security duly completed
by the Holder (or by the Holder&#146;s attorney duly authorized in writing), must be received by the
Company at the Place of Payment therefor specified in the terms of such Security (or at such other
place or places of which the Company shall from time to time notify the Holders of such Securities)
not earlier than 45&nbsp;days nor later than 30&nbsp;days prior to the Repayment Date. If less than the
entire Repayment Price of such Security is to be repaid in accordance with the terms of such
Security, the portion of the Repayment Price of such Security to be repaid, in increments of the
minimum denomination for Securities of such series, and the denomination or denominations of the
Security or Securities to be issued to the Holder for the portion of such Security surrendered that
is not to be repaid, must be specified. Any Security
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">providing for repayment at the option of the Holder thereof may not be repaid in part if,
following such repayment, the unpaid principal amount of such Security would be less than the
minimum authorized denomination of Securities of the series of which such Security to be repaid is
a part. Except as otherwise may be provided by the terms of any Security providing for repayment
at the option of the Holder thereof, exercise of the repayment option by the Holder shall be
irrevocable unless waived by the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1304. <U>When Securities Presented for Repayment Become Due and Payable</U>. If
Securities of any series providing for repayment at the option of the Holders thereof shall have
been surrendered as provided in this Article and as provided by or pursuant to the terms of such
Securities, such Securities or the portions thereof, as the case may be, to be repaid shall become
due and payable and shall be paid by the Company on the Repayment Date therein specified, and on
and after such Repayment Date (unless the Company and, if applicable, the Guarantor and any
Subsidiary Guarantor shall default in the payment of such Securities on such Repayment Date) such
Securities shall, if the same were interest-bearing, cease to bear interest and the coupons for
such interest appertaining to any Bearer Securities so to be repaid, except to the extent provided
below, shall be void. Upon surrender of any such Security for repayment in accordance with such
provisions, together with all coupons, if any, appertaining thereto maturing after the Repayment
Date, the Repayment Price of such Security so to be repaid shall be paid by the Company, together
with accrued interest, if any, to the Repayment Date; provided, however, that coupons whose Stated
Maturity is on or prior to the Repayment Date shall be payable only at an office or agency located
outside the United States (except as otherwise provided in Section&nbsp;1002) and, unless otherwise
specified pursuant to Section&nbsp;301, only upon presentation and surrender of such coupons; and
<U>provided</U> <U>further</U> that, in the case of Registered Securities, installments of
interest, if any, whose Stated Maturity is on or prior to the Repayment Date shall be payable to
the Holders of such Securities, or one or more Predecessor Securities, registered as such at the
close of business on the relevant Record Dates according to their terms and the provisions of
Section&nbsp;307.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Bearer Security surrendered for repayment shall not be accompanied by all appurtenant
coupons maturing after the Repayment Date, such Security may be paid after deducting from the
amount payable therefor as provided in Section&nbsp;1302 an amount equal to the face amount of all such
missing coupons, or the surrender of such missing coupon or coupons may be waived by the Company,
the Guarantor, if applicable, and the Trustee if there be furnished to them such security or
indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter
the Holder of such Security shall surrender to the Trustee or any Paying Agent any such missing
coupon in respect of which a deduction shall have been made as provided in the preceding sentence,
such Holder shall be entitled to receive the amount so deducted; <U>provided</U>, <U>however</U>,
that interest represented by coupons shall be payable only at an office or agency located outside
the United States (except as otherwise provided in Section&nbsp;1002) and, unless otherwise specified as
contemplated by Section&nbsp;301, only upon presentation and surrender of those coupons.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the principal amount of any Security surrendered for repayment shall not be so repaid upon
surrender thereof, such principal amount (together with interest, if any, thereon accrued to such
Repayment Date) shall, until paid, bear interest from the Repayment Date at the
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) set
forth in such Security.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1305. <U>Securities Repaid in Part</U>. Upon surrender of any Registered Security
which is to be repaid in part only, the Company shall execute and the Trustee shall authenticate
and deliver to the Holder of such Security, without service charge and at the expense of the
Company, a new Registered Security or Securities of the same series, and of like tenor, of any
authorized denomination specified by the Holder, in an aggregate principal amount equal to and in
exchange for the portion of the principal of such Security so surrendered which is not to be repaid
with, if applicable, Guarantees endorsed thereon duly executed by the Guarantor and the Subsidiary
Guarantors, as applicable.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE FOURTEEN
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">DEFEASANCE AND COVENANT DEFEASANCE
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1401. <U>Company&#146;s Option to Effect Defeasance or Covenant Defeasance</U>. Except
as otherwise specified as contemplated by Section&nbsp;301 for Securities of any series, the provisions
of this Article&nbsp;Fourteen shall apply to each series of Securities, and the Company may, at its
option, effect defeasance of the Securities of or within a series under Section&nbsp;1402, or covenant
defeasance of or within a series under Section&nbsp;1403 in accordance with the terms of such Securities
and in accordance with this Article.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1402. <U>Defeasance and Discharge</U>. Upon the Company&#146;s exercise of the above
option applicable to this Section with respect to any Securities of or within a series, the Company
shall be deemed to have been discharged from its obligations with respect to such Outstanding
Securities and any related coupons on the date the conditions set forth in Section&nbsp;1404 are
satisfied (hereinafter, &#147;defeasance&#148;). For this purpose, such defeasance means that the Company,
the Guarantor and any Subsidiary Guarantors shall be deemed to have paid and discharged the entire
indebtedness represented by such Outstanding Securities and any related coupons, which shall
thereafter be deemed to be &#147;Outstanding&#148; only for the purposes of Section&nbsp;1405 and the other
Sections of this Indenture referred to in (A)&nbsp;and (B)&nbsp;below, and to have satisfied all its other
obligations under such Securities and any related coupons and this Indenture insofar as such
Securities and any related coupons are concerned (and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging the same), except for the following which shall
survive until otherwise terminated or discharged hereunder: (A)&nbsp;the rights of Holders of such
Outstanding Securities and any related coupons to receive, solely from the trust fund described in
Section&nbsp;1404 and as more fully set forth in such Section, payments in respect of the principal of
(and premium, if any) and interest, if any, on such Securities and any related coupons when such
payments are due, (B)&nbsp;the Company&#146;s obligations and, to the extent applicable, the Guarantor&#146;s and
any Subsidiary Guarantor&#146;s obligations with respect to such Securities under Sections&nbsp;304, 305,
306, 1002 and 1003 and with respect to the payment of Additional Amounts, if any, on such
Securities as contemplated by Section&nbsp;1011 and such obligations as shall be ancillary thereto, (C)
the rights, powers, trusts, duties and immunities of the Trustee hereunder including, without
limitation, Section&nbsp;606 and the penultimate paragraph of Section&nbsp;1405 and (D)&nbsp;this Article
Fourteen. Subject to compliance with this Article&nbsp;Fourteen,
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">the Company may exercise its option under this Section&nbsp;1402 notwithstanding the prior exercise
of its option under Section&nbsp;1403 with respect to such Securities and any related coupons.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1403. <U>Covenant Defeasance</U>. Upon the Company&#146;s exercise of the above option
applicable to this Section with respect to any Securities of or within a series, the Company shall
be released from its obligations under Sections&nbsp;801 and 802 and Sections&nbsp;1005, 1006 and 1012, and,
if specified pursuant to Section&nbsp;301, its obligations under any other covenant, with respect to
such Outstanding Securities and any related coupons on and after the date the conditions set forth
in Section&nbsp;1404 are satisfied (hereinafter, &#147;covenant defeasance&#148;), and such Securities and any
related coupons shall thereafter be deemed not to be &#147;Outstanding&#148; for the purposes of any
direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof)
in connection with such covenants, but shall continue to be deemed &#147;Outstanding&#148; for all other
purposes hereunder. For this purpose, such covenant defeasance means that, with respect to such
Outstanding Securities and any related coupons, the Company may omit to comply with and shall have
no liability in respect of any term, condition or limitation set forth in any such covenant,
whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or
by reason of reference in any such covenant to any other provision herein or in any other document
and such omission to comply shall not constitute a Default or an Event of Default under Section
501(4) or Section&nbsp;501(9) or otherwise, as the case may be, but, except as specified above, the
remainder of this Indenture and such Securities and any related coupons shall be unaffected
thereby.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1404. <U>Conditions to Defeasance or Covenant Defeasance</U>. The following shall
be the conditions to application of either Section&nbsp;1402 or Section&nbsp;1403 to any Outstanding
Securities of or within a series and any related coupons:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Company, the Guarantor or any Subsidiary Guarantor, if applicable, shall
irrevocably have deposited or caused to be deposited with the Trustee (or another trustee
satisfying the requirements of Section&nbsp;607 who shall agree to comply with the provisions of
this Article&nbsp;Fourteen applicable to it) as trust funds in trust for the purpose of making
the following payments, specifically pledged as security for, and dedicated solely to, the
benefit of the Holders of such Securities and any related coupons, (A)&nbsp;an amount (in such
Currency in which such Securities and any related coupons are then specified as payable at
Stated Maturity), or (B)&nbsp;Government Obligations applicable to such Securities (determined on
the basis of the Currency in which such Securities are then specified as payable at Stated
Maturity) which through the scheduled payment of principal and interest in respect thereof
in accordance with their terms will provide, not later than one day before the due date of
any payment of principal of and premium, if any, and interest, if any, under such Securities
and any related coupons, money in an amount, or (C)&nbsp;a combination thereof, sufficient, in
the opinion of a nationally recognized firm of independent public
accountants or a nationally recognized investment bank expressed in a
written certification thereof delivered to the Trustee, to pay and discharge, and which
shall be applied by the Trustee (or other qualifying trustee) to pay and discharge, (i)&nbsp;the
principal of (and premium, if any) and interest, if any, on such Outstanding Securities and
any related coupons on the Stated Maturity (or Redemption Date, if applicable) of such
principal (and premium, if any) or installment of interest, if any, and (ii)&nbsp;any mandatory
sinking fund payments or analogous payments applicable to such Outstanding Securities and
any related coupons
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">on the day on which such payments are due and payable in accordance with the terms of
this Indenture and of such Securities and any related coupons;
<U>provided</U> that the
Trustee shall have been irrevocably instructed to apply such money or the proceeds of such
Government Obligations to said payments with respect to such Securities and any related
coupons. Before such a deposit, the Company may give to the Trustee, in accordance with
Section&nbsp;1102 hereof, a notice of its election to redeem all or any portion of such
Outstanding Securities at a future date in accordance with the terms of the Securities of
such series and Article&nbsp;Eleven hereof, which notice shall be irrevocable. Such irrevocable
redemption notice, if given, shall be given effect in applying the foregoing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) No Default or Event of Default with respect to such Securities or any related
coupons shall have occurred and be continuing on the date of such deposit or, insofar as
paragraphs (7)&nbsp;and (8)&nbsp;of Section&nbsp;501 are concerned, at any time during the period ending on
the 91st day after the date of such deposit (it being understood that this condition shall
not be deemed satisfied until the expiration of such period).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Such defeasance or covenant defeasance shall not result in a breach or violation
of, or constitute a default under, any material agreement or instrument (other than this
Indenture) to which the Company or any of its Subsidiaries is a party or by which the
Company or any of its Subsidiaries is bound.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) In the case of an election under Section&nbsp;1402, the Company shall have delivered to
the Trustee an Opinion of Counsel stating that (x)&nbsp;the Company has received from, or there
has been published by, the Internal Revenue Service a ruling, or (y)&nbsp;since the date of
execution of this Indenture, there has been a change in the applicable federal income tax
law, in either case to the effect that, and based thereon such opinion shall confirm that,
the Holders of such Outstanding Securities and any related coupons will not recognize
income, gain or loss for federal income tax purposes as a result of the deposit and such
defeasance and will be subject to federal income tax on the same amounts, in the same manner
and at the same times as would have been the case if the deposit and such defeasance had not
occurred.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) In the case of an election under Section&nbsp;1403, the Company shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Holders of such Outstanding
Securities and any related coupons will not recognize income, gain or loss for federal
income tax purposes as a result of such covenant defeasance and will be subject to federal
income tax on the same amounts, in the same manner and at the same times as would have been
the case if the deposit and such covenant defeasance had not occurred.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Notwithstanding any other provisions of this Section, such defeasance or covenant
defeasance shall be effected in compliance with any additional or substitute terms,
conditions or limitations in connection therewith pursuant to Section&nbsp;301.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) The Company shall have delivered to the Trustee an Officer&#146;s Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">relating to either the defeasance under Section&nbsp;1402 or the covenant defeasance under
Section&nbsp;1403 (as the case may be) have been complied with.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1405. <U>Deposited Money and Government Obligations to Be Held in Trust; Other
Miscellaneous Provisions</U>. Subject to the provisions of the last paragraph of Section&nbsp;1003, all
money and Government Obligations (or other property as may be provided pursuant to Section&nbsp;301)
(including the proceeds thereof) deposited with the Trustee (or other qualifying trustee,
collectively for purposes of this Section&nbsp;1405, the &#147;Trustee&#148;) pursuant to Section&nbsp;1404 in respect
of such Outstanding Securities and any related coupons shall be held in trust and applied by the
Trustee, in accordance with the provisions of such Securities and any related coupons and this
Indenture, to the payment, either directly or through any Paying Agent (including the Company or
the Guarantor acting as its own Paying Agent) as the Trustee may determine, to the Holders of such
Securities and any related coupons of all sums due and to become due thereon in respect of
principal (and premium, if any) and interest, if any, but such money need not be segregated from
other funds except to the extent required by law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified with respect to any Security pursuant to Section&nbsp;301, if, after a
deposit referred to in Section&nbsp;1404(1) has been made, (a)&nbsp;the Holder of a Security in respect of
which such deposit was made is entitled to, and does, elect pursuant to Section 312(b) or the terms
of such Security to receive payment in a Currency other than that in which the deposit pursuant to
Section&nbsp;1404(1) has been made in respect of such Security, or (b)&nbsp;a Conversion Event occurs as
contemplated in Section 312(d) or 312(e) or by the terms of any Security in respect of which the
deposit pursuant to Section&nbsp;1404(1) has been made, the indebtedness represented by such Security
and any related coupons shall be deemed to have been, and will be, fully discharged and satisfied
through the payment of the principal of (and premium, if any) and interest, if any, on such
Security as they become due out of the proceeds yielded by converting (from time to time as
specified below in the case of any such election) the amount or other property deposited in respect
of such Security into the Currency in which such Security becomes payable as a result of such
election or Conversion Event based on the applicable Market Exchange Rate for such Currency in
effect on the third Business Day prior to each payment date, except, with respect to a Conversion
Event, for such Currency in effect (as nearly as feasible) at the time of the Conversion Event.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or Government Obligations deposited pursuant to Section&nbsp;1404 or the
principal and interest received in respect thereof other than any such tax, fee or other charge
which by law is for the account of the Holders of such Outstanding Securities and any related
coupons. The foregoing sentence shall survive the termination of this Indenture and the earlier
resignation or removal of the Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anything in this Article&nbsp;Fourteen to the contrary notwithstanding, the Trustee shall deliver
or pay to the Company from time to time upon Company Request any money or Government Obligations
(or other property and any proceeds therefrom) held by it as provided in Section&nbsp;1404 which, in the
opinion of a nationally recognized firm of independent public
accountants or a nationally recognized investment bank expressed in a written
certification thereof delivered to the Trustee, are in excess of the amount thereof which would
then be required to be deposited to effect an equivalent defeasance or covenant defeasance, as
applicable, in accordance with this Article.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1406. <U>Reinstatement</U>. If the Trustee or any Paying Agent is unable to apply
any money in accordance with Section&nbsp;1405 with respect to any Securities by reason of any order or
judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, then the Company&#146;s obligations under this Indenture and such Securities and any
related coupons shall be revived and reinstated as though no deposit had occurred pursuant to
Section&nbsp;1402 or 1403, as the case may be, until such time as the Trustee or Paying Agent is
permitted to apply all such money in accordance with Section&nbsp;1405; <U>provided</U>,
<U>however</U>, that if the Company makes any payment of principal of (or premium, if any) or
interest, if any, on any such Security or any related coupon following the reinstatement of its
obligations, the Company shall be subrogated to the rights of the Holders of such Securities and
any related coupons to receive such payment from the money held by the Trustee or Paying Agent.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE FIFTEEN
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">MEETINGS OF HOLDERS OF SECURITIES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1501. <U>Purposes for Which Meetings May Be Called</U>. If Securities of a series
are issuable as Bearer Securities, a meeting of Holders of Securities of such series may be called
at any time and from time to time pursuant to this Article to make, give or take any request,
demand, authorization, direction, notice, consent, waiver or other action provided by this
Indenture to be made, given or taken by Holders of Securities of such series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1502. <U>Call, Notice and Place of Meetings</U>. (a)&nbsp;The Trustee may at any time
call a meeting of Holders of Securities of any series for any purpose specified in Section&nbsp;1501, to
be held at such time and at such place in The City of New York or in London as the Trustee shall
determine. Notice of every meeting of Holders of Securities of any series, setting forth the time
and the place of such meeting and in general terms the action proposed to be taken at such meeting,
shall be given, in the manner provided for in Section&nbsp;106, not less than 21 nor more than 180&nbsp;days
prior to the date fixed for the meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;In case at any time the Company, pursuant to a Board Resolution, or the Holders of at
least 10% in principal amount of the Outstanding Securities of any series shall have requested the
Trustee to call a meeting of the Holders of Securities of such series for any purpose specified in
Section&nbsp;1501, by written request setting forth in reasonable detail the action proposed to be taken
at the meeting, and the Trustee shall not have made the first publication of the notice of such
meeting within 21&nbsp;days after receipt of such request or shall not thereafter proceed to cause the
meeting to be held as provided herein, then the Company or the Holders of Securities of such series
in the amount above specified, as the case may be, may determine the time and the place in The City
of New York or in London for such meeting and may call such meeting for such purposes by giving
notice thereof as provided in paragraph (a)&nbsp;of this Section.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1503. <U>Persons Entitled to Vote at Meetings</U>. To be entitled to vote at any
meeting of Holders of Securities of any series, a Person shall be (1)&nbsp;a Holder of one or more
Outstanding Securities of such series, or (2)&nbsp;a Person appointed by an instrument in writing as
proxy for a Holder or Holders of one or more Outstanding Securities of such series by such
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Holder of Holders. The only Persons who shall be entitled to be present or to speak at any
meeting of Holders of Securities of any series shall be the Person entitled to vote at such meeting
and their counsel, any representatives of the Trustee and its counsel and any representatives of
the Company and its counsel.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1504. <U>Quorum; Action</U>. The Persons entitled to vote a majority in principal
amount of the Outstanding Securities of a series shall constitute a quorum for a meeting of Holders
of Securities of such series; <U>provided</U>, <U>however</U>, that, if any action is to be taken
at such meeting with respect to a consent or waiver which this Indenture expressly provides may be
given by the Holders of not less than a specified percentage in principal amount of the Outstanding
Securities of a series, the Persons entitled to vote such specified percentage in principal amount
of the Outstanding Securities of such series shall constitute a quorum. In the absence of a quorum
within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened at the
request of Holders of Securities of such series, be dissolved. In any other case the meeting may
be adjourned for a period of not less than 10&nbsp;days as determined by the chairman of the meeting
prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned
meeting, such adjourned meeting may be further adjourned for a period of not less than 10&nbsp;days as
determined by the chairman of the meeting prior to the adjournment of such adjourned meeting.
Notice of the reconvening of any adjourned meeting shall be given as provided in Section&nbsp;1502(a),
except that such notice need be given only once not less than five days prior to the date on which
the meeting is scheduled to be reconvened. Notice of the reconvening of any adjourned meeting
shall state expressly the percentage, as provided above, of the principal amount of the Outstanding
Securities of such series which shall constitute a quorum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as limited by the proviso to Section&nbsp;902, any resolution presented to a meeting or
adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted by the
affirmative vote of the Holders of not less than a majority in principal amount of the Outstanding
Securities of such series; <U>provided</U>, <U>however</U>, that, except as limited by the
proviso to Section&nbsp;902, any resolution with respect to any request, demand, authorization,
direction, notice, consent, waiver or other action which this Indenture expressly provides may be
made, given or taken by the Holders of a specified percentage, which is less than a majority, in
principal amount of the Outstanding Securities of a series may be adopted at a meeting or an
adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative
vote of the Holders of not less than such specified percentage in principal amount of the
Outstanding Securities of such series.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any resolution passed or decision taken at any meeting of Holders of Securities of any series
duly held in accordance with this Section shall be binding on all the Holders of Securities of such
series and the related coupons, whether or not present or represented at the meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing provisions of this Section&nbsp;1504, if any action is to be taken at
a meeting of Holders of Securities of any series with respect to any request, demand,
authorization, direction, notice, consent, waiver or other action that this Indenture expressly
provides may be made, given or taken by the Holders of a specified percentage in principal
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">amount of all Outstanding Securities affected thereby, or of the Holders of such series and
one or more additional series:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) there shall be no minimum quorum requirement for such meeting; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the principal amount of the Outstanding Securities of such series that vote in
favor of such request, demand, authorization, direction, notice, consent, waiver or other
action shall be taken into account in determining whether such request, demand,
authorization, direction, notice, consent, waiver or other action has been made, given or
taken under this Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1505. <U>Determination of Voting Rights; Conduct and Adjournment of Meetings</U>.
(a)&nbsp;Notwithstanding any provisions of this Indenture, the Trustee may make such reasonable
regulations as it may deem advisable for any meeting of Holders of Securities of a series in regard
to proof of the holding of Securities of such series and of the appointment of proxies and in
regard to the appointment and duties of inspectors of votes, the submission and examination of
proxies, certificates and other evidence of the right to vote, and such other matters concerning
the conduct of the meeting as its shall deem appropriate. Except as otherwise permitted or
required by any such regulations, the holding of Securities shall be proved in the manner specified
in Section&nbsp;104 and the appointment of any proxy shall be proved in the manner specified in Section
104 or by having the signature of the person executing the proxy witnessed or guaranteed by any
trust company, bank or banker authorized by Section&nbsp;104 to certify to the holding of Bearer
Securities. Such regulations may provide that written instruments appointing proxies, regular on
their face, may be presumed valid and genuine without the proof specified in Section&nbsp;104 or other
proof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Trustee shall, by an instrument in writing appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders of Securities as
provided in Section&nbsp;1502(b), in which case the Company or the Holders of Securities of the series
calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A
permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons
entitled to vote a majority in principal amount of the Outstanding Securities of such series
represented at the meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;At any meeting each Holder of a Security of such series or proxy shall be entitled to one
vote for each $1,000 principal amount of Outstanding Securities of such series held or represented
by him (determined as specified in the definition of &#147;Outstanding&#148; in Section&nbsp;101);
<U>provided</U>, <U>however</U>, that no vote shall be cast or counted at any meeting in respect
of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not
Outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of a
Security of such series or proxy.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Any meeting of Holders of Securities of any series duly called pursuant to Section&nbsp;1502 at
which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority
in principal amount of the Outstanding Securities of such series represented at the meeting; and
the meeting may be held as so adjourned without further notice.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1506. <U>Counting Votes and Recording Action of Meetings</U>. The vote upon any
resolution submitted to any meeting of Holders of Securities of any series shall be by written
ballots on which shall be subscribed the signatures of the Holders of Securities of such series or
of their representatives by proxy and the principal amounts and serial numbers of the Outstanding
Securities of such series held or represented by them. The permanent chairman of the meeting shall
appoint two inspectors of votes who shall count all votes cast at the meeting for or against any
resolution and who shall make and file with the secretary of the meeting their verified written
reports in duplicate of all votes cast at the meeting. A record, at least in duplicate, of the
proceedings of each meeting of Holders of Securities of any series shall be prepared by the
Secretary of the meeting and there shall be attached to said record the original reports of the
inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons
having knowledge of the facts setting forth a copy of the notice of the meeting and showing that
said notice was given as provided in Section&nbsp;1502 and, if applicable, Section&nbsp;1504. Each copy
shall be signed and verified by the affidavits of the permanent chairman and secretary of the
meeting and one such copy shall be delivered to the Company, and another to the Trustee to be
preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting.
Any record so signed and verified shall be conclusive evidence of the matters therein stated.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE SIXTEEN
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">GUARANTEE BY THE GUARANTOR
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1601. <U>Guarantee</U>. If Securities of or within a series are specified, as
contemplated by Section&nbsp;301, to be guaranteed by the Guarantor, then the Guarantor hereby fully and
unconditionally guarantees to each Holder of any such Security which is authenticated and delivered
by the Trustee and to each Holder of any coupon appertaining to any such Security, if any, and to
the Trustee for itself and on behalf of each such Holder, the due and punctual payment of the
principal of (and premium, if any, on) and interest (including, in case of default, interest on
principal and, to the extent permitted by applicable law, on overdue interest and including any
additional interest required to be paid according to the terms of any such Security or any coupon
appertaining thereto), if any, on each such Security, and the due and punctual payment of any
sinking fund payment (or analogous obligation), if any, provided for with respect to any such
Security, when and as the same shall become due and payable, whether at Maturity, upon redemption,
upon acceleration, upon tender for repayment at the option of any Holder or otherwise, according to
the terms thereof and of this Indenture, including, without limitation, the payment of any
Additional Amounts, if any, provided for with respect to any such Security as described under
Section&nbsp;1011 hereof (the &#147;Guarantor Obligations&#148;). In case of the failure of the Company or any
successor thereto punctually to pay any such principal, premium, interest or sinking fund payment,
the Guarantor hereby agrees to cause any such payment to be made punctually when and as the same
shall become due and payable, whether at Maturity, upon redemption, upon declaration of
acceleration, upon tender for repayment at the option of any Holder or otherwise, as if such
payment were made by the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Guarantor hereby agrees that its Guarantor Obligations hereunder shall be as if it were
principal debtor and not merely surety and shall be absolute and unconditional,
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">irrespective of the identity of the Company, the validity, regularity or enforceability of any
such Security or coupon appertaining thereto or this Indenture, the absence of any action to
enforce the same, any waiver or consent by the Holder of any such Security or coupon appertaining
thereto with respect to any provisions thereof, the recovery of any judgment against the Company or
any action to enforce the same, or any other circumstance which might otherwise constitute a legal
or equitable discharge or defense of a Guarantor. The Guarantor hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Company, any right to require a proceeding first against the Company, protest,
notice and all demands whatsoever and covenants that its Guarantees will not be discharged except
by complete performance of its obligations contained in any such Security or coupon appertaining
thereto and in this Guarantee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Guarantor hereby agrees that, in the event of a default in payment of principal or
premium, if any, or interest on any such Security or any coupon appertaining thereto, whether at
its Maturity, by acceleration, purchase or otherwise, legal proceedings may be instituted by the
Trustee on behalf of, or by, the Holder of any such Security or coupon appertaining thereto,
subject to the terms and conditions set forth in this Indenture, directly against the Guarantor to
enforce the Guarantee without first proceeding against the Company. The Guarantor agrees that if,
after the occurrence and during the continuance of an Event of Default, the Trustee or any of the
Holders are prevented by applicable law from exercising their respective rights to accelerate the
Maturity of any such Security or coupon appertaining thereto, to collect interest on any such
Security or coupon appertaining thereto, or to enforce or exercise any other right or remedy with
respect to any such Security or coupon appertaining thereto, the Guarantor shall pay to the Trustee
for the account of the Holder, upon demand therefor, the amount that would otherwise have been due
and payable had such rights and remedies been permitted to be exercised by the Trustee or any of
the Holders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Holder or the Trustee is required by any court or otherwise to return to the Company or
the Guarantor, or any custodian, trustee, liquidator or other similar official acting in relation
to either the Company or the Guarantor, any amount paid in respect of a Security or any coupons
appertaining thereto by any of them to the Trustee or such Holder, the Guarantee, to the extent
theretofore discharged, shall be reinstated in full force and effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Guarantee shall remain in full force and effect and continue to be effective should any
petition be filed by or against the Company for liquidation, reorganization, should the Company
become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee
be appointed for all or any significant part of the Company&#146;s assets, and shall, to the fullest
extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any
time payment and performance of any such Security or coupon appertaining thereto are, pursuant to
applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any
obligee on any such Security or coupon appertaining thereto, whether as a &#147;voidable preference&#148;,
&#147;fraudulent transfer&#148; or otherwise, all as though such payment or performance had not been made.
In the event that any payment or any part thereof is rescinded, reduced, restored or returned, any
such Security or coupon appertaining thereto shall, to the fullest extent permitted by law, be
reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or
returned.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1602. <U>Severability</U>. In case any provision of the Guarantee shall be
invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1603. <U>Priority of Guarantee</U>. Unless otherwise specified pursuant to Section
301 with respect to any series of Securities, and except as provided in the next following
sentence, this Guarantee shall be unsecured and unsubordinated obligations of the Guarantor,
ranking pari passu with all other existing and future unsubordinated and unsecured indebtedness of
the Company and the Guarantor, respectively. With respect to any series of Securities that is
designated as subordinated pursuant to Section&nbsp;301 and except as otherwise provided in a
supplemental indenture or pursuant to Section&nbsp;301, the Guarantee Obligations of the Guarantor
hereunder shall be junior and subordinated to any guarantee of any Senior Indebtedness on the same
basis as such Securities are junior and subordinated to any Senior Indebtedness. For the purposes
of the foregoing sentence, the Trustee and the Holders of such subordinated Securities shall have
the right to receive and/or retain payments by the Guarantor only at such times as they may receive
and/or retain payments in respect of such Securities pursuant to this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1604. <U>Limitation of Guarantor&#146;s Liability</U>. The Guarantor and by its
acceptance hereof each Holder confirms that it is the intention of all such parties that the
Guarantee does not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy
Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar
federal or state law or the provisions of its local law relating to fraudulent transfer or
conveyance. To effectuate the foregoing intention, the Holders and the Guarantor hereby
irrevocably agree that the obligations of the Guarantor under the Guarantee shall be limited to the
maximum amount that will not, after giving effect to all other contingent and fixed liabilities of
the Guarantor result in the obligations of the Guarantor under the Guarantee constituting such
fraudulent transfer or conveyance.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1605. <U>Subrogation</U>. The Guarantor shall be subrogated to all rights of
Holders of the Securities of a series (and of any coupons appertaining thereto) against the Company
in respect of any amounts paid by the Guarantor on account of such Securities or any coupons
appertaining thereto or this Indenture; <U>provided</U>, <U>however</U>, that, if an Event of
Default has occurred and is continuing, the Guarantor shall not be entitled to enforce or receive
any payments arising out of, or based upon, such right of subrogation until all amounts then due
and payable by the Company under this Indenture or the Securities shall have been paid in full.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1606. <U>Reinstatement</U>. The Guarantor hereby agrees that the Guarantee
provided for in Section&nbsp;1601 shall continue to be effective or be reinstated, as the case may be,
if at any time, payment, or any part thereof, of any obligations or interest thereon is rescinded
or must otherwise be restored by a Holder to the Company upon the bankruptcy or insolvency of the
Company or the Guarantor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1607. <U>Release of the Guarantor</U>. Concurrently with the discharge of the
Securities under Section&nbsp;1101, the Legal Defeasance of the Securities under Section&nbsp;802 or the
Covenant Defeasance of the Securities under Section&nbsp;803, the Guarantor shall be released from all
their obligations under its Guarantee under this Indenture.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;So long as no Default exists or upon the occurrence of the following events, with notice or
lapse of time or both, would exist, the Guarantee and any Liens securing the Guarantee shall be
automatically and unconditionally released and discharged upon: any sale, exchange, transfer to
any Person that is not an Affiliate of the Company of all of the Company&#146;s Capital Stock in the
Guarantor, which transaction is otherwise in compliance with this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1608. <U>Benefits Acknowledged</U>. The Guarantor acknowledges that it will
receive direct and indirect benefits from the financing arrangements contemplated by this Indenture
and that its guarantee and waivers pursuant to the Guarantee are knowingly made in contemplation of
such benefits.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE SEVENTEEN
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">GUARANTEE BY THE SUBSIDIARY GUARANTORS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1701. <U>Guarantee</U>. If Securities of or within a series are specified, as
contemplated by Section&nbsp;301, to be guaranteed by any Subsidiary Guarantor, then such Subsidiary
Guarantor hereby fully and unconditionally guarantees to each Holder of any such Security which is
authenticated and delivered by the Trustee and to each Holder of any coupon appertaining to any
such Security, if any, and to the Trustee for itself and on behalf of each such Holder, the due and
punctual payment of the principal of (and premium, if any, on) and
interest (including, in case of default, interest on principal and,
to the extent permitted by applicable law, on overdue interest and
including any additional interest required to be paid according to
the terms of any such Security or any coupon appertaining thereto),
if any, on each such Security, and the due and punctual payment of
any sinking fund payment (or analogous obligation), if any, provided
for with respect to any such Security, when and as the same shall
become due and payable, whether at Maturity, upon redemption, upon
acceleration, upon tender for repayment at the option of any Holder
or otherwise, according to the terms thereof and of this Indenture,
including, without limitation, the payment of any Additional Amounts,
if any, provided for with respect to any such Security as described
under Section 1011 hereof (the &#147;Subsidiary Guarantor Obligations&#148;). In case of the failure of the Company or any
successor thereto punctually to pay any such principal, premium, interest or sinking fund payment,
each Subsidiary Guarantor hereby agrees to cause any such payment to be made punctually when and as
the same shall become due and payable, whether at Maturity, upon redemption, upon declaration of
acceleration, upon tender for repayment at the option of any Holder or otherwise, as if such
payment were made by the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Subsidiary Guarantor hereby agrees that its Subsidiary Guarantor Obligations hereunder shall be as
if it were principal debtor and not merely surety and shall be absolute and unconditional,
irrespective of the identity of the Company, the validity, regularity or enforceability of any such
Security or coupon appertaining thereto or this Indenture, the absence of any action to enforce the
same, any waiver or consent by the Holder of any such Security or coupon appertaining thereto with
respect to any provisions thereof, the recovery of any judgment against the Company or any action
to enforce the same, or any other circumstance which might otherwise constitute a legal or
equitable discharge or defense of a guarantor. Each Subsidiary Guarantor hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Company, any right to require a proceeding first against the Company, protest,
notice and all demands whatsoever and covenants that its Guarantees will not be discharged except
by complete performance of its obligations contained in any such Security or coupon appertaining
thereto and in this Guarantee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Subsidiary Guarantor hereby agrees that, in the event of a default in payment of
principal or premium, if any, or interest on any such Security or any coupon appertaining thereto,
whether at its Maturity, by acceleration, purchase or otherwise, legal proceedings may be
instituted by the Trustee on behalf of, or by, the Holder of any such Security or coupon
appertaining thereto, subject to the terms and conditions set forth in this Indenture,
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">directly against such Subsidiary Guarantor to enforce the Guarantee without first proceeding
against the Company. Each Subsidiary Guarantor agrees that if, after the occurrence and during the
continuance of an Event of Default, the Trustee or any of the Holders are prevented by applicable
law from exercising their respective rights to accelerate the Maturity of any such Security or
coupon appertaining thereto, to collect interest on any such Security or coupon appertaining
thereto, or to enforce or exercise any other right or remedy with respect to any such Security or
coupon appertaining thereto, such Subsidiary Guarantor shall pay to the Trustee for the account of
the Holder, upon demand therefor, the amount that would otherwise have been due and payable had
such rights and remedies been permitted to be exercised by the Trustee or any of the Holders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Holder or the Trustee is required by any court or otherwise to return to the Company or
any Subsidiary Guarantor, or any custodian, trustee, liquidator or other similar official acting in
relation to either the Company or such Subsidiary Guarantor, any amount paid in respect of a
Security or any coupons appertaining thereto by any of them to the Trustee or such Holder, the
Guarantee of such Subsidiary Guarantor, to the extent theretofore discharged, shall be reinstated
in full force and effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Guarantee shall remain in full force and effect and continue to be effective should any
petition be filed by or against the Company for liquidation, reorganization, should the Company
become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee
be appointed for all or any significant part of the Company&#146;s assets, and shall, to the fullest
extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any
time payment and performance of any such Security or coupon appertaining thereto are, pursuant to
applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any
obligee on any such Security or coupon appertaining thereto, whether as a &#147;voidable preference&#148;,
&#147;fraudulent transfer&#148; or otherwise, all as though such payment or performance had not been made.
In the event that any payment or any part thereof is rescinded, reduced, restored or returned, any
such Security or coupon appertaining thereto shall, to the fullest extent permitted by law, be
reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or
returned.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1702. <U>Severability</U>. In case any provision of the Guarantee shall be
invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1703. <U>Priority of Guarantee</U>. Unless otherwise specified pursuant to Section
301 with respect to any series of Securities, and except as provided in the next following
sentence, this Guarantee shall be unsecured and unsubordinated obligations of each Subsidiary
Guarantor, ranking pari passu with all other existing and future unsubordinated and unsecured
indebtedness of the Company and such Subsidiary Guarantor, respectively. With respect to any
series of Securities that is designated as subordinated pursuant to Section&nbsp;301 and except as
otherwise provided in a supplemental indenture or pursuant to
Section&nbsp;301, the Subsidiary Guarantee
Obligations of each Subsidiary Guarantor hereunder shall be junior and subordinated to any
guarantee of any Senior Indebtedness on the same basis as such Securities are junior and
subordinated to any Senior Indebtedness. For the purposes of the foregoing sentence, the Trustee
and the Holders of such subordinated Securities shall have the right to receive and/or retain
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">payments by each Subsidiary Guarantor only at such times as they may receive and/or retain
payments in respect of such Securities pursuant to this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1704. <U>Limitation of Subsidiary Guarantor&#146;s Liability</U>. Each Subsidiary
Guarantor and by its acceptance hereof each Holder confirms that it is the intention of all such
parties that the Guarantee does not constitute a fraudulent transfer or conveyance for purposes of
the Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or
any similar federal or state law or the provisions of its local law relating to fraudulent transfer
or conveyance. To effectuate the foregoing intention, the Holders and each Subsidiary Guarantor
hereby irrevocably agree that the obligations of any Subsidiary Guarantor under the Guarantee shall
be limited to the maximum amount that will not, after giving effect to all other contingent and
fixed liabilities of such Subsidiary Guarantor result in the obligations of such Subsidiary
Guarantor under the Guarantee constituting such fraudulent transfer or conveyance.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1705. <U>Subrogation</U>. Each Subsidiary Guarantor shall be subrogated to all
rights of Holders of the Securities of a series (and of any coupons appertaining thereto) against
the Company in respect of any amounts paid by such Subsidiary Guarantor on account of such
Securities or any coupons appertaining thereto or this Indenture; <U>provided</U>,
<U>however</U>, that, if an Event of Default has occurred and is continuing, such Subsidiary
Guarantor shall not be entitled to enforce or receive any payments arising out of, or based upon,
such right of subrogation until all amounts then due and payable by the Company under this
Indenture or the Securities shall have been paid in full.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1706. <U>Reinstatement</U>. Each Subsidiary Guarantor hereby agrees that the
Guarantee provided for in Section&nbsp;1701 shall continue to be effective or be reinstated, as the case
may be, if at any time, payment, or any part thereof, of any obligations or interest thereon is
rescinded or must otherwise be restored by a Holder to the Company upon the bankruptcy or
insolvency of the Company or such Subsidiary Guarantor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1707. <U>Release of the Subsidiary Guarantors</U>. Concurrently with the discharge
of the Securities under Section&nbsp;1101, the Legal Defeasance of the Securities under Section&nbsp;802 or
the Covenant Defeasance of the Securities under Section&nbsp;803, each Subsidiary Guarantor shall be
released from all its obligations under its Guarantee under this Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;So long as no Default exists or upon the occurrence of the following events, with notice or
lapse of time or both, would exist, the Guarantee of any Subsidiary Guarantor and any Liens
securing such Guarantee shall be automatically and unconditionally released and discharged upon:
(a)&nbsp;any sale, exchange or transfer (by merger or otherwise) of all of the Capital Stock of such
Guarantor, or the sale or disposition of all the assets of such Subsidiary Guarantor, which
transaction is otherwise in compliance with this Indenture or (b)&nbsp;the election of the Company to
effect such a release following the first day upon which the Securities have ratings equal to or
higher than Baa3 (or the equivalent) by Moody&#146;s Investors Service, Inc. and BBB- (or the
equivalent) by Standard &#038; Poor&#146;s Ratings Group, Inc. (each, an &#147;Investment Grade Rating&#148;), in each
case, with a stable or better outlook; <I>provided </I>that a change in outlook shall not by itself
constitute a loss of an Investment Grade Rating.
</DIV>





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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1708. <U>Benefits Acknowledged</U>. Each Subsidiary Guarantor acknowledges that it
will receive direct and indirect benefits from the financing arrangements contemplated by this
Indenture and that its guarantee and waivers pursuant to the Guarantee are knowingly made in
contemplation of such benefits.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Indenture may be executed in any number of counterparts, each of which so executed shall
be deemed to be an original, but all such counterparts shall together constitute but one and the
same Indenture.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->96<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, as of
the day and year first above written.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">AMERICAN AXLE &#038; MANUFACTURING, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">AMERICAN AXLE &#038; MANUFACTURING <BR>
HOLDINGS, INC.<BR>
as Guarantor<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">AAM INTERNATIONAL HOLDINGS, INC.<BR>
as Subsidiary Guarantor<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">ACCUGEAR, INC.<BR>
as Subsidiary Guarantor<BR>

&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">COLFOR MANUFACTURING, INC.<BR>
as Subsidiary Guarantor<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">DIETRONIK, INC.<BR>
as Subsidiary Guarantor<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">MSP INDUSTRIES CORPORATION<BR>
as Subsidiary Guarantor<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">OXFORD FORGE, INC.<BR>
as Subsidiary Guarantor<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 46%">Attest:

</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">U.S. BANK NATIONAL ASSOCIATION,<BR>
as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>






<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT A</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>FORMS OF CERTIFICATION</B>
</DIV>






<P align="center" style="font-size: 10pt"><!-- Folio -->A-1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT A-1</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>FORM OF CERTIFICATE TO BE GIVEN BY<BR>
PERSON ENTITLED TO RECEIVE BEARER SECURITY<BR>
OR TO OBTAIN INTEREST PAYABLE PRIOR<BR>
TO THE EXCHANGE DATE</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>CERTIFICATE</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">&#091;Insert title or sufficient description<BR>
of Securities to be delivered&#093;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This is to certify that as of the date hereof, and except as set forth below, the
above-captioned Securities held by you for our account (i)&nbsp;are owned by person(s) that are not
citizens or residents of the United States, domestic partnerships, domestic corporations or any
estate or trust the income of which is subject to United States federal income taxation regardless
of its source (&#147;United States person(s)&#148;), (ii)&nbsp;are owned by United States person(s) that are (a)
foreign branches of United States financial institutions (financial institutions, as defined in
United States Treasury Regulations Section&nbsp;1.165-12(c)(1)(v) are herein referred to as &#147;financial
institutions&#148;) purchasing for their own account or for resale, or (b)&nbsp;United States person(s) who
acquired the Securities through foreign branches of United States financial institutions and who
hold the Securities through such United States financial institutions on the date hereof (and in
either case (a)&nbsp;or (b), each such United States financial institution hereby agrees, on its own
behalf or through its agent, that you may advise American Axle &#038; Manufacturing, Inc. or its agent
that such financial institution will comply with the requirements of Section&nbsp;165(j)(3)(A), (B)&nbsp;or
(C)&nbsp;of the United States Internal Revenue Code of 1986, as amended, and the regulations
thereunder), or (iii)&nbsp;are owned by United States or foreign financial institution(s) for purposes
of resale during the restricted period (as defined in United States Treasury Regulations Section
1.163-5(c)(2)(i)(D)(7)), and, in addition, if the owner is a United States or foreign financial
institution described in clause (iii)&nbsp;above (whether or not also described in clause (i)&nbsp;or (ii)),
this is to further certify that such financial institution has not acquired the Securities for
purposes of resale directly or indirectly to a United States person or to a person within the
United States or its possessions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As used herein, &#147;United States&#148; means the United States of America (including the states and
the District of Columbia); and its &#147;possessions&#148; include Puerto Rico, the U.S. Virgin Islands,
Guam, American Samoa, Wake Island and the Northern Mariana Islands.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We undertake to advise you promptly by tested telex on or prior to the date on which you
intend to submit your certification relating to the above-captioned Securities held by you for our
account in accordance with your Operating Procedures if any applicable statement herein is not
correct on such date, and in the absence of any such notification it may be assumed that this
certification applies as of such date.
</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->A-1-1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This certificate excepts and does not relate to &#091;U.S.$&#093;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95; of such interest in the
above-captioned Securities in respect of which we are not able to certify and as to which we
understand an exchange for an interest in a permanent global Security or an exchange for and
delivery of definitive Securities (or, if relevant, collection of any interest) cannot be made
until we do so certify.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We understand that this certificate may be required in connection with certain tax legislation
in the United States. If administrative or legal proceedings are commenced or threatened in
connection with which this certificate is or would be relevant, we irrevocably authorize you to
produce this certificate or a copy thereof to any interested party in such proceedings.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dated:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#091;To be dated no earlier than the 15th day<BR>
prior to (i)&nbsp;the Exchange Date or (ii)&nbsp;the<BR>
relevant Interest Payment Date occurring<BR>
prior to the Exchange Date, as applicable&#093;

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;Name of Person Making Certification&#093;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt">
<td>&nbsp;</td>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
(Authorized Signatory)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>







<P align="center" style="font-size: 10pt"><!-- Folio -->A-1-2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT A-2</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR<BR>
AND CLEARSTREAM IN<BR>
CONNECTION WITH THE EXCHANGE OF A PORTION OF A<BR>
TEMPORARY GLOBAL SECURITY OR TO OBTAIN INTEREST<BR>
PAYABLE PRIOR TO THE EXCHANGE DATE</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>CERTIFICATE</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">&#091;Insert title or sufficient description<BR>
of Securities to be delivered&#093;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This is to certify that based solely on written certifications that we have received in
writing, by tested telex or by electronic transmission from each of the persons appearing in our
records as persons entitled to a portion of the principal amount set forth below (our &#147;Member
Organizations&#148;) substantially in the form attached hereto, as of the date hereof, &#091;U.S.$&#093;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;
principal amount of the above-captioned Securities (i)&nbsp;is owned by person(s) that are not citizens
or residents of the United States, domestic partnerships, domestic corporations or any estate or
trust the income of which is subject to United States Federal income taxation regardless of its
source (&#147;United States person(s)&#148;), (ii)&nbsp;is owned by United States person(s) that are (a)&nbsp;foreign
branches of United States financial institutions (financial institutions, as defined in U.S.
Treasury Regulations Section&nbsp;1.165-12(c)(1)(v) are herein referred to as &#147;financial institutions&#148;)
purchasing for their own account or for resale, or (b)&nbsp;United States person(s) who acquired the
Securities through foreign branches of United States financial institutions and who hold the
Securities through such United States financial institutions on the date hereof (and in either case
(a)&nbsp;or (b), each such financial institution has agreed, on its own behalf or through its agent,
that we may advise American Axle &#038; Manufacturing, Inc. or its agent that such financial institution
will comply with the requirements of Section&nbsp;165(j)(3)(A), (B)&nbsp;or (C)&nbsp;of the Internal Revenue Code
of 1986, as amended, and the regulations thereunder), or (iii)&nbsp;is owned by United States or foreign
financial institution(s) for purposes of resale during the restricted period (as defined in United
States Treasury Regulations Section&nbsp;1.163-5(c)(2)(i)(D)(7)) and, to the further effect, that
financial institutions described in clause (iii)&nbsp;above (whether or not also described in clause (i)
or (ii)) have certified that they have not acquired the Securities for purposes of resale directly
or indirectly to a United States person or to a person within the United States or its possessions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As used herein, &#147;United States&#148; means the United States of America (including the states and
the District of Columbia); and its &#147;possessions&#148; include Puerto Rico, the U.S. Virgin Islands,
Guam, American Samoa, Wake Island and the Northern Mariana Islands.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We further certify that (i)&nbsp;we are not making available herewith for exchange (or, if
relevant, collection of any interest) any portion of the temporary global Security representing the
above-captioned Securities excepted in the above-referenced certificates of Member Organizations
and (ii)&nbsp;as of the date hereof we have not received any notification from any of our
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->A-2-1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Member Organizations to the effect that the statements made by such Member Organizations with
respect to any portion of the part submitted herewith for exchange (or, if relevant, collection of
any interest) are no longer true and cannot be relied upon as of the date hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We understand that this certification is required in connection with certain tax legislation
in the United States. If administrative or legal proceedings are commenced or threatened in
connection with which this certificate is or would be relevant, we irrevocably authorize you to
produce this certificate or a copy thereof to any interested party in such proceedings.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dated:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">{To be dated no earlier than the Exchange<BR>
Date or the relevant Interest Payment<BR>
Date occurring prior to the Exchange Date,<BR>
as applicable}

</DIV>
<DIV align="center">
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;EUROCLEAR BANK S.A./N.V.&#093;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;CLEARSTREAM&#093;</TD>
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</TR>
<TR style="font-size: 8pt">
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</TR>

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</DIV></TD>
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    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
By
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</DIV>



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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>k50523exv5w1.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv5w1</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;5.1</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">July 12, 2011
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">American Axle &#038; Manufacturing Holdings, Inc.<BR>
American Axle &#038; Manufacturing, Inc.<BR>
One Dauch Drive<BR>
Detroit, Michigan 48211

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">American Axle &#038; Manufacturing Holdings, Inc.<BR>
American Axle &#038; Manufacturing, Inc.<BR>
<U>Registration Statement on Form&nbsp;S-3ASR</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have acted as counsel to American Axle &#038; Manufacturing Holdings, Inc., a Delaware
corporation (&#147;<U>Holdings</U>&#148;), and American Axle &#038; Manufacturing, Inc., a Delaware corporation
(&#147;<U>AAM, Inc.</U>&#148; and together with Holdings, the &#147;<U>Registrants</U>&#148;), in connection with
the preparation and filing by the Registrants and AAM International Holdings, Inc., a Delaware
corporation, AccuGear, Inc., a Delaware corporation, Colfor Manufacturing, Inc., a Delaware
corporation, DieTronik, Inc, a Delaware corporation, MSP Industries Corporation, a Michigan
corporation and Oxford Forge, Inc., a Delaware corporation (collectively, the &#147;<U>Subsidiary
Guarantors</U>,&#148;) of a registration statement on Form S-3ASR (such registration statement,
including the documents incorporated by reference therein, the &#147;<U>Registration Statement</U>&#148;)
filed with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) relating to the
offering from time to time, pursuant to Rule&nbsp;415 of the General Rules and Regulations of the
Commission promulgated under the Securities Act of 1933, as amended (the &#147;<U>Securities Act</U>&#148;),
by the Registrants of (i)&nbsp;shares of Holdings&#146; common stock, par value $0.01 per share (&#147;<U>Common
Stock</U>&#148;), (ii)&nbsp;shares of Holdings&#146; preferred stock, par value $.01 per share (&#147;<U>Holdings
Preferred Stock</U>&#148;), (iii)&nbsp;shares of AAM, Inc.&#146;s preferred stock, par value $.01 per share
(&#147;<U>AAM, Inc. Preferred Stock</U>&#148; and together with the Holdings Preferred Stock, the
&#147;<U>Preferred Stock</U>&#148;), (iv)&nbsp;debt securities of AAM, Inc. (&#147;<U>Debt Securities</U>&#148;), (v)
guarantees of such Debt Securities by Holdings (&#147;<U>Guarantees&#148;</U>) or the Subsidiary Guarantors,
(vi)&nbsp;warrants to purchase Debt Securities (the &#147;<U>Debt Warrants</U>&#148;), (vi)&nbsp;warrants to purchase
Common Stock (the &#147;<U>Common Stock Warrants</U>&#148;) and (vii)&nbsp;shares of Common Stock underlying the
Common Stock Warrants (the
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;<U>Warrant Shares</U>&#148;), in each case, as described in the prospectus forming a part of the
Registration Statement (the &#147;<U>Prospectus</U>&#148;), as supplemented by one or more supplements to
the Prospectus (each supplement, a &#147;<U>Prospectus Supplement</U>&#148;) and as shall be designated by
the Registrants at the time of the applicable offering. The Common Stock, the Preferred Stock, the
Debt Securities, the Guarantees, the Debt Warrants and the Common Stock Warrants are hereinafter
referred to, collectively, as the &#147;<U>Securities</U>.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Debt Securities and the Guarantees will be issued pursuant to an indenture (the
&#147;<U>Indenture</U>&#148;) to be entered into between AAM, Inc., as issuer, Holdings, as guarantor, and
the Subsidiary Guarantors and U.S. Bank National Association, as trustee (the &#147;<U>Trustee</U>&#148;),
a form of which is filed as an exhibit to the Registration Statement. The Preferred Stock will be
issued in one or more series and the relative powers, designations, preferences, rights and
qualifications, limitations or restrictions of such Preferred Stock will be set forth in one or
more certificates of designation (each, a &#147;<U>Certificate of Designation</U>&#148;). Each Certificate
of Designation will be in a form to be filed as an exhibit to a post-effective amendment to the
Registration Statement or a Current Report on Form 8-K incorporated in such Registration Statement
by reference. The Debt Warrants will be issued pursuant to a warrant
agreement (each, a &#147;<U>Debt Warrant Agreement</U>&#148;) to be entered into between AAM, Inc. and a bank or trust company, as
warrant agent (each, a &#147;<U>Debt Warrant Agent</U>&#148;). The Common Stock Warrants will be issued
pursuant to a warrant agreement (each, a &#147;<U>Common Stock Warrant Agreement&#148;</U>) to be entered
into between Holdings and a bank or trust company, as warrant agent (each, a &#147;<u>Common Stock Warrant
Agent</u>&#148;). Each Debt Warrant Agreement and Common Stock Warrant Agreement will be in a form to be
filed as an exhibit to a post-effective amendment to the Registration Statement or a Current Report
on Form 8-K incorporated in such Registration Statement by reference.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In that connection, we have reviewed the originals, or copies identified to our satisfaction,
of the Indenture, the Registration Statement, the Prospectus, the certificates of incorporation and
by-laws of the Registrants, as amended, and such corporate records of the Registrants, certificates
of public officials, officers of the Registrants and other persons, and other documents, agreements
and instruments, as we have deemed necessary as a basis for the opinions expressed below. In our
review, we have assumed the genuineness of all signatures, the authenticity of the originals of the
documents submitted to us and the conformity to authentic originals of any documents submitted to
us as copies. We have further assumed, as to matters of fact, the truthfulness of the
representations made in certificates of public officials and officers of the Registrants; and that
the Indenture is the legal, valid and binding obligation of each party thereto, other than the
Registrants, enforceable against each such party in accordance with its terms. We also have
assumed that the execution, delivery and performance by the Registrants of the Indenture will be
duly authorized by all necessary action (corporate or otherwise) and will not (a)&nbsp;contravene the
certificates of incorporation or bylaws of the Registrants, (b)&nbsp;violate any law, rule or regulation
applicable to the Registrants or (c)&nbsp;result in any conflict with or breach of any agreement or
document binding on the Registrants, and that no authorization, approval or other action by, and no
notice to or filing with, any governmental authority or regulatory body or any other third party is
required for the due execution, delivery or performance by the Registrants of the Indenture or, if
any such authorization, approval, consent, action, notice or filing is required, it has been or
will be duly obtained, taken, given or made and is or will be in full force and effect.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our opinion set forth below is limited to the law of the State of New York and the General
Corporation Law of the State of Delaware, and we do not express any opinion herein concerning any
other law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based upon the foregoing, and upon such other investigation as we have deemed necessary and
subject to the qualifications set forth below, we are of the opinion that:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Indenture, when duly executed and delivered by the Registrants, will constitute the
legal, valid and binding obligation of the Registrants, enforceable against the Registrants in
accordance with its terms.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. When (i)&nbsp;the Indenture has been duly executed and delivered by the Registrants, (ii)&nbsp;the
final terms of the Debt Securities have been duly established and approved by AAM, Inc., (iii)&nbsp;the
issuance and sale of the Debt Securities (including the Guarantees endorsed thereon) has been duly
authorized by all necessary action (corporate or otherwise) and (iv)&nbsp;such Debt Securities
(including the Guarantees endorsed thereon) have been duly executed by the Registrants and duly
authenticated by the Trustee in accordance with the terms of the Indenture, and delivered to the
purchasers thereof against payment of the consideration therefor duly approved by AAM, Inc., the
Debt Securities and the Guarantees endorsed thereon will constitute legal, valid and binding
obligations of the Registrants, enforceable against the Registrants in accordance with their terms.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. When (i)&nbsp;the terms of issuance and sale of the shares of Common Stock have been duly
approved by Holdings in conformity with Holdings&#146; certificate of incorporation and (ii)&nbsp;the shares
of Common Stock are issued and delivered to the purchasers thereof against payment of the
consideration therefor duly approved by Holdings (which shall not be less than the par value of the
Common Stock), the shares of Common Stock, will be duly authorized, validly issued, fully paid and
non-assessable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. When (i)&nbsp;the terms of the Preferred Stock have been established and approved by either AAM,
Inc. or Holdings, as the case may be, in conformity with the General Corporation Law of the State
of Delaware and AAM, Inc.&#146;s or Holdings&#146; respective certificates of incorporation, as applicable
(ii)&nbsp;all corporate action necessary for the issuance and sale of the shares of Preferred Stock has
been taken, including the adoption and filing of the Certificate of Designations relating thereto,
and (iii)&nbsp;the shares of the Preferred Stock are issued and delivered to the purchasers thereof
against payment of the consideration therefor duly approved by AAM, Inc. or Holdings, as the case
may be, (which shall not be less than the par value of the Preferred Stock), the shares of
Preferred Stock will be duly authorized, validly issued, fully paid and non-assessable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. When (i)&nbsp;the terms of the Common Stock Warrants have been established and approved by
Holdings, (ii)&nbsp;all corporate action necessary for the issuance and sale of the Common Stock
Warrants has been taken, including the adoption, (iii)&nbsp;the Common Stock Warrants or certificates
representing the Common Stock Warrants have been duly executed by Holdings, and such certificates
have been countersigned by the applicable Common Stock Warrant Agent in accordance with the
applicable Common Warrant Agreement, and (iv)&nbsp;the Common Stock Warrants or certificates
representing the Common Stock Warrants are issued and
</DIV>




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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">delivered to the purchasers thereof against payment of the consideration thereof duly approved
by Holdings, the Common Stock Warrants will constitute valid and legally binding obligations of
Holdings, entitled to the benefits of the applicable Common Warrant Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. When (i)&nbsp;the terms of the Debt Warrants have been established and approved by AAM, Inc.,
(ii)&nbsp;all corporate action necessary for the issuance and sale of the Debt Warrants has been taken,
including the adoption and filing of a Debt Warrant Agreement relating thereto, (iii)&nbsp;the Debt
Warrants or certificates representing the Debt Warrants have been duly executed by AAM, Inc., and
such certificates have been countersigned by the applicable Debt Warrant Agent in accordance with
the applicable Debt Warrant Agreement, and (iv)&nbsp;the Debt Warrants or certificates representing the
Debt Warrants are issued and delivered to the purchasers thereof against payment of the
consideration thereof duly approved by AAM, Inc., the Debt Warrants will constitute valid and
legally binding obligations of AAM, Inc. entitled to the benefits of the applicable Debt Warrant
Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The Warrant Shares to be offered and issued by Holdings upon exercise of the Common Stock
Warrants have been duly approved by Holdings in conformity with Holdings&#146; certificate of
incorporation and, when issued by Holdings against payment in full of the consideration (which
shall not be less than the par value of the Common Stock) and in accordance with the Common Stock
Warrant, will be duly authorized, validly issued, fully paid and non-assessable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The opinions set forth above are subject to (i)&nbsp;the effect of any applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors&#146; rights generally
(including without limitation all laws relating to fraudulent transfers) and (ii)&nbsp;the effect of
general principles of equity, including without limitation concepts of materiality, reasonableness,
good faith and fair dealing (regardless of whether considered in a proceeding in equity or at law).
Further, with respect to Securities denominated in a currency other than United States dollars, if
any, we express no opinion as to whether a court would award a judgment in a currency other than
United States dollars.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We understand that this opinion is to be used in connection with the Registration Statement.
We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to
the use of our name in the Prospectus under the caption &#147;Legal Matters.&#148; In giving this consent,
we do not hereby admit that we are in the category of persons whose consent is required under
Section&nbsp;7 of the Securities Act or the rules and regulations of the Commission promulgated
thereunder.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Very truly yours,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">/s/ Shearman &#038; Sterling LLP
</DIV>




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</DIV>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>4
<FILENAME>k50523exv5w2.htm
<DESCRIPTION>EX-5.2
<TEXT>
<HTML>
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<TITLE>exv5w2</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><b>Exhibit
5.2</b></div>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">July 12, 2011
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">American Axle &#038; Manufacturing Holdings, Inc.<BR>
American Axle &#038; Manufacturing, Inc.<BR>
One Dauch Drive<BR>
Detroit, Michigan 48211

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">American Axle &#038; Manufacturing Holdings, Inc.<BR>
American Axle &#038; Manufacturing, Inc.<BR>
<U>Registration Statement on Form&nbsp;S-3ASR</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference
is made to the registration statement on Form S-3ASR (the &#147;<U>Registration
Statement</U>&#148;) being filed with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;)
on or about July 12, 2011 by American Axle &#038; Manufacturing Holdings, Inc., a Delaware corporation
(&#147;<U>Holdings</U>&#148;), American Axle &#038; Manufacturing, Inc., a Delaware corporation (&#147;<U>AAM,
Inc.</U>&#148;), AAM International Holdings, Inc., a Delaware corporation, AccuGear, Inc., a Delaware
corporation, Colfor Manufacturing, Inc., a Delaware corporation, DieTronik, Inc, a Delaware
corporation, MSP Industries Corporation, a Michigan corporation and Oxford Forge, Inc., a Delaware
corporation (collectively, the &#147;<U>Subsidiary Guarantors</U>&#148; and, together with Holdings and AAM,
Inc., the &#147;<U>Registrants</U>&#148;). The Registration Statement relates to the issuance and sale
from time to time, pursuant to Rule&nbsp;415 of the General Rules and Regulations promulgated under the
Securities Act of 1933, as amended (the &#147;<U>Securities Act</U>&#148;), by the Registrants of (i)&nbsp;shares
of Holdings&#146; common stock, par value $0.01 per share (&#147;<U>Common Stock</U>&#148;), (ii)&nbsp;shares of
Holdings&#146; preferred stock, par value $.01 per share (&#147;<U>Holdings Preferred Stock</U>&#148;), (iii)
shares of AAM, Inc.&#146;s preferred stock, par value $.01 per share (&#147;<U>AAM, Inc. Preferred
Stock</U>&#148; and, together with the Holdings Preferred Stock, the &#147;<U>Preferred Stock</U>&#148;), (iv)
debt securities of AAM, Inc. (&#147;<U>Debt Securities</U>&#148;), (v)&nbsp;guarantees of such Debt Securities by
Holdings (&#147;Holdings&#146; Guarantee&#148;) and/or the Subsidiary Guarantors (&#147;Subsidiary Guarantees&#148; and,
together with Holdings&#146; Guarantee, the &#147;Guarantees&#148;), (vi)&nbsp;warrants to purchase Debt Securities
(the &#147;<U>Debt Warrants</U>&#148;), (vi)&nbsp;warrants to purchase Common Stock (the &#147;<U>Common Stock
Warrants</U>&#148;) and (vii)&nbsp;shares of Common Stock underlying the Common Stock Warrants (the
&#147;<U>Warrant Shares</U>&#148;), in each case, as described in the prospectus forming a part of the
Registration Statement (the &#147;<U>Prospectus</U>&#148;), as supplemented by one or more supplements to
the Prospectus (each supplement, a &#147;<U>Prospectus Supplement</U>&#148;) and as shall be designated by
the Registrants at the time of the applicable offering. The Common
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Stock, the Preferred Stock, the Debt Securities, the Guarantees, the Debt Warrants and the Common
Stock Warrants are hereinafter referred to, collectively, as the &#147;<U>Securities</U>.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Debt Securities and the Guarantees will be issued pursuant to an indenture (the
&#147;<U>Indenture</U>&#148;) to be entered into between AAM, Inc., as issuer, Holdings, as guarantor, the
Subsidiary Guarantors and U.S. Bank National Association, as trustee (the &#147;<U>Trustee</U>&#148;), a
form of which is filed as an exhibit to the Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
General Counsel of Holdings and AAM, Inc., the direct parent company of each Subsidiary Guarantor, and
Secretary of each Subsidiary Guarantor, I am familiar with the incorporation documents and bylaws
of each Subsidiary Guarantor and with the affairs of each Subsidiary Guarantor. In rendering the
opinions set forth below, I have examined or caused to be examined such agreements, documents,
instruments and records as I deemed necessary or appropriate under the circumstances for me to
express such opinions. In rendering such opinions, I also have assumed that:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Indenture will have been duly authorized, executed and delivered by the
Trustee; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>prior to the offering and sale of Debt Securities, the respective officers of
the Registrants duly authorized by each Registrant&#146;s Board of Directors or a committee
thereof will (a)&nbsp;authorize by proper corporate action the terms of and the prices at
which the Debt Securities (including the Guarantees endorsed thereon) are to be issued
and sold pursuant to the terms of the Indenture and (b)&nbsp;execute and deliver the
Indenture.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With regard to the opinions set forth below, insofar as they relate to the Subsidiary
Guarantees as valid, binding and enforceable obligations of each Subsidiary Guarantor, I have
relied solely upon an opinion letter dated the date hereof from Shearman &#038; Sterling LLP, New York,
New York, with respect to all matters of New York law related thereto. Based on the foregoing, and
subject to the assumptions and qualifications set forth above, it is my opinion that the Subsidiary
Guarantees, when duly executed by the Subsidiary Guarantors and authenticated by the Trustee in
accordance with the Indenture and delivered to and paid for by the purchasers thereof, will be
legally issued and will constitute valid and binding obligations of the Subsidiary Guarantors,
enforceable against each Subsidiary Guarantor in accordance with their terms and entitled to the
benefits of the Indenture, except to the extent that the enforcement thereof may be limited by (A)
bankruptcy, insolvency, reorganization, moratorium and other laws now or hereafter in effect
relating to creditors&#146; rights generally and (B)&nbsp;general principles of equity (regardless of whether
enforcement is considered in a proceeding at law or in equity).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I hereby consent to the filing of this opinion as an exhibit to the Registration Statement,
and I hereby consent to the reference made to me under the heading &#147;Legal Matters&#148; set forth in the
prospectus forming a part of the Registration Statement. In giving such consent, I do not thereby
admit that I am in the category of persons whose consent is required under Section&nbsp;7 of the
Securities Act or the rules and regulations of the Commission promulgated thereunder.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;<I>Signature page follows</I>&#093;
</DIV>






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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Very Truly Yours,
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt">
<td>&nbsp;</td>
</TR>

<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Richard G. Raymond<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Richard G. Raymond
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>5
<FILENAME>k50523exv12w1.htm
<DESCRIPTION>EX-12.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv12w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;12.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES<BR>
AMERICAN AXLE &#038; MANUFACTURING HOLDINGS, INC.</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Three Months Ended</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="18">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>March 31,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="18" style="border-bottom: 1px solid #000000"><B>Year Ended December 31,</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2011</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2007</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2006</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="18"><I>(Unaudited)</I></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="18"><I>(In millions, except for ratios)</I></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Fixed Charges:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest expense, including amortization of debt issuance
costs</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">21.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">89.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">84.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">70.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">61.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">39.0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other fixed charges (b)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16.1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total fixed charges as defined</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">23.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">95.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">95.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">83.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">74.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">55.1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Earnings (Loss):</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income (loss)&nbsp;from continuing operations before income tax
expense (benefit)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">38.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">118.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(297.1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(1,121.3</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(356.3</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total fixed charges as defined</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">95.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">95.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">83.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55.1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other adjustments (c)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1.5</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1.7</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7.4</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5.9</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6.4</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7.2</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total earnings (loss)&nbsp;as defined</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">60.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">212.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(209.1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(1,043.5</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">85.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(308.4</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Ratio of earnings (loss)&nbsp;to fixed charges</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.58</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.23</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(a</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(a</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(a</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(a)</TD>
    <TD>&nbsp;</TD>
    <TD>Earnings/(Loss) for the year ended December&nbsp;31, 2009, 2008 and 2006 were inadequate to
cover fixed charges by $304.5&nbsp;million, $1,127.2&nbsp;million and $363.5&nbsp;million, respectively.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(b)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes capitalized interest and estimated interest portion
of rents.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(c)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes fixed charges not deducted in the determination of income (loss)&nbsp;from continuing
operations before income tax expense, the amortization of capitalized interest and earnings in
equity of affiliates.</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>6
<FILENAME>k50523exv23w1.htm
<DESCRIPTION>EX-23.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv23w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;23.1</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We consent to the incorporation by reference in this Registration Statement on Form S-3ASR of our
report dated February&nbsp;9, 2011, relating to the financial statements and financial statement
schedule of American Axle &#038; Manufacturing Holdings, Inc., and the effectiveness of American Axle &#038;
Manufacturing Holdings, Inc.&#146;s internal control over financial reporting, appearing in the Annual
Report on Form 10-K of American Axle &#038; Manufacturing Holdings, Inc. for the fiscal year ended
December&nbsp;31, 2010, and to the reference to us under the heading &#147;Experts&#148; in the Prospectus, which
is part of this Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>/s/ DELOITTE &#038; TOUCHE LLP</I><BR>
Detroit, Michigan<BR>
July&nbsp;12, 2011

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-25.1
<SEQUENCE>7
<FILENAME>k50523exv25w1.htm
<DESCRIPTION>EX-25.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv25w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->




<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;25.1</B>
</DIV>

<p>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>FORM T-1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>STATEMENT OF ELIGIBILITY UNDER<BR>
THE TRUST INDENTURE ACT OF 1939 OF A<BR>
CORPORATION DESIGNATED TO ACT AS TRUSTEE</B>
</DIV>

<DIV align="center" style="font-size: 10pt">Check if an Application to Determine Eligibility of</DIV>


<DIV align="center" style="font-size: 10pt">a Trustee Pursuant to Section&nbsp;305(b)(2)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>U.S. BANK NATIONAL ASSOCIATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of Trustee as specified in its charter)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>31-0841368</B><BR>
I.R.S. Employer Identification No.</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:15px; text-indent:-15px">800 Nicollet Mall</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">Minneapolis,
Minnesota<DIV style="font-size: 1px; border-bottom: 1px solid #000000; width:60%; FONT-SIZE: 1PX">&nbsp;</div>
</TD>
    <TD>&nbsp;</TD>

<TD align="center" valign="top">55402<DIV style="font-size: 1px; border-bottom: 1px solid #000000; width:30%; FONT-SIZE: 1PX">&nbsp;</div></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">James Kowalski<BR>
U.S. Bank National Association<BR>
535 Griswold Street, Suite&nbsp;550<BR>
Detroit, MI 48226<BR>
(313)&nbsp;234-4716<BR>
(Name, address and telephone number of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>American Axle &#038; Manufacturing, Inc.</B><BR>
(Exact name of obligor as specified in its charter)</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD align="center" valign="top">Delaware<DIV style="font-size: 1px; border-bottom: 1px solid #000000; width:85%; FONT-SIZE: 1PX">&nbsp;</div>
</TD>
    <TD>&nbsp;</TD>

<TD align="center" valign="top">38-3138388<DIV style="font-size: 1px; border-bottom: 1px solid #000000; width:50%; FONT-SIZE: 1PX">&nbsp;</div></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of <BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer <BR>
Identification No.)</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>American Axle &#038; Manufacturing Holdings, Inc.</B><BR>
<I>(Exact name of obligor as specified in its charter)</I>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">38-3161171</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AAM International Holdings, Inc.</B><BR>
<I>(Exact name of obligor as specified in its charter)</I>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">38-3439761</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AccuGear, Inc.</B><BR>
<I>(Exact name of obligor as specified in its charter)</I>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26-3788013</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Colfor Manufacturing, Inc.</B><BR>
<I>(Exact name of obligor as specified in its charter)</I>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">38-1834325</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>DieTronik, Inc.</B><BR>
<I>(Exact name of obligor as specified in its charter)</I>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26-3005324</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>MSP Industries Corporation</B><BR>
<I>(Exact name of obligor as specified in its charter)</I>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Michigan
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">38-2382767</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Oxford Forge, Inc.</B><BR>
<I>(Exact name of obligor as specified in its charter)</I>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">83-0500168</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top">One Dauch Drive
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">Detroit,
Michigan<DIV style="font-size: 1px; border-bottom: 1px solid #000000; width:70%; FONT-SIZE: 1PX">&nbsp;</div></TD>
    <TD>&nbsp;</TD>

<TD align="center" valign="top">48221<DIV style="font-size: 1px; border-bottom: 1px solid #000000; width:20%; FONT-SIZE: 1PX">&nbsp;</div></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of Principal Executive Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Debt Securities and Guarantees of Debt Securities<BR>
(Title of the Indenture Securities)</B></DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>FORM T-1</B></U>
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;1.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>GENERAL INFORMATION</B><B><I>. </I></B>Furnish the following information as to the Trustee.</TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Name and address of each examining or supervising authority to which it
is subject.</I></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 12%; margin-top: 6pt">Comptroller of the Currency<BR>
Washington, D.C.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Whether it is authorized to exercise corporate trust powers.</I></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 12%; margin-top: 6pt">Yes
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;2.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>AFFILIATIONS WITH OBLIGOR. </B><I>If the obligor is an affiliate of the Trustee, describe each such affiliation.</I></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>None</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Items 3-15</B></TD>
    <TD>&nbsp;</TD>
    <TD><I>Items 3-15 are not applicable because to the best of the Trustee&#146;s knowledge, the
obligor is not in default under any Indenture for which the Trustee acts as Trustee.</I></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;16.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>LIST OF EXHIBITS: </B><I>List below all exhibits filed as a part of this statement of
eligibility and qualification.</I></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A copy of the Articles of Association of the Trustee.*</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A copy of the certificate of authority of the Trustee to commence
business, attached as Exhibit&nbsp;2.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A copy of the certificate of authority of the Trustee to exercise
corporate trust powers, attached as Exhibit&nbsp;3.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A copy of the existing bylaws of the Trustee.**</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A copy of each Indenture referred to in Item&nbsp;4. Not applicable.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The consent of the Trustee required by Section 321(b) of the Trust
Indenture Act of 1939, attached as Exhibit&nbsp;6.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Report of Condition of the Trustee as of March&nbsp;31, 2011 published
pursuant to law or the requirements of its supervising or examining authority,
attached as Exhibit&nbsp;7.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Incorporated by reference to Exhibit&nbsp;25.1 to Amendment No.&nbsp;2 to registration statement on
S-4, Registration Number 333-128217 filed on November&nbsp;15, 2005.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">**</TD>
    <TD>&nbsp;</TD>
    <TD>Incorporated by reference to Exhibit&nbsp;25.1 to registration statement on S-4, Registration
Number 333-166527 filed on May&nbsp;5, 2010.</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S.
BANK NATIONAL ASSOCIATION, a national banking association organized and existing under
the laws of the United States of America, has duly caused this statement of eligibility and
qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the
City of Detroit, State of Michigan on the 12th of July, 2011.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">     /s/ James Kowalski
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">James Kowalski&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>



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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><u><B>Exhibit&nbsp;2</B></u>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="k50523k5052302.gif" alt="(LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comptroller of the Currency<BR>
Administrator of National Banks

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Washington, DC 20219

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CERTIFICATE OF CORPORATE EXISTENCE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I, John Walsh, Acting Comptroller of the Currency, do hereby certify that:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1, The Comptroller of the Currency, pursuant to Revised Statutes 324, et seq., as amended, 12
U.S.C. 1, et seq., as amended, has possession, custody and control of all records pertaining to the
chartering, regulation and supervision of all National Banking Associations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. &#147;U.S. Bank National Association,&#148; Cincinnati, Ohio, (Charter No.&nbsp;24), is a National Banking
Association formed under the laws of the United States and is authorized thereunder to transact the
business of banking on the date of this Certificate.
</DIV>

<P><DIV style="position: relative; float: left; width: 48%">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="k50523k5052303.gif" alt="(STAMP)">
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 50%">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">IN TESTIMONY WHERE OF, I have</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">hereunto subscribed my name and caused</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">my seal of office to be affixed to these</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">presents at the Treasury Department, in the</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">City of Washington and District of</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Columbia, this September&nbsp;9, 2010.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><IMG src="k50523k5052304.gif" alt="(SIGNATURE)"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Acting Comptroller of the Currency</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<BR clear="all"><BR>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Exhibit&nbsp;3</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="k50523k5052302.gif" alt="(LOGO)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comptroller of the Currency<BR>
Administrator of National Banks

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Washington, DC 20219

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">CERTIFICATE OF FIDUCIARY POWERS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I, John Walsh, Acting Comptroller of the Currency, do hereby certify that:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. The Comptroller of the Currency, pursuant to Revised Statutes 324, et seq., as amended, 12
U.S.C. 1, et seq., as amended, has possession, custody and control of all records pertaining to the
chartering, regulation and supervision of all National Banking
Associations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. &#147;U.S. Bank National Association,&#148; Cincinnati, Ohio, (Charter No.&nbsp;24), was granted, under the
hand and seal of the Comptroller, the right to act in all fiduciary capacities authorized under the
provisions of the Act of Congress approved September&nbsp;28, 1962,
76 Stat.668, 12 U.S.C. 92 a, and
that the authority so granted remains in full force and effect on the date of this Certificate.
</DIV>

<P><DIV style="position: relative; float: left; width: 48%">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="k50523k5052303.gif" alt="(STAMP)">
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 50%">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">IN TESTIMONY WHERE OF, I have</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">hereunto subscribed my name and caused</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">my seal of office to be affixed to these</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">presents at the Treasury Department, in the</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">City of Washington and District of</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Columbia, this September&nbsp;9, 2010.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><IMG src="k50523k5052304.gif" alt="(SIGNATURE)"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Acting Comptroller of the Currency</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<BR clear="all"><BR>

<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Exhibit&nbsp;6</B></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>CONSENT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S.
BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by
Federal, State, Territorial or District authorities may be furnished by such authorities to the
Securities and Exchange Commission upon its request therefor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated: July 12, 2011
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">     /s/ James Kowalski
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">James Kowalski&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Exhibit&nbsp;7<BR>
U.S. Bank National Association<BR>
Statement of Financial Condition<BR>
As of 3/31/2011</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>($000&#146;s)</B>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>3/31/2011</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Assets</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cash and Balances Due From</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,798,547</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Depository Institutions
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">
Securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58,784,508</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Federal Funds</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,446,250</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Loans &#038; Lease Financing Receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">188,553,195</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Fixed Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,071,554</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Intangible Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,223,551</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,091,641</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>Total Assets</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left"><B>$</B></TD>
    <TD align="right"><B>305,969,246</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Deposits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">215,206,369</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Fed Funds</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,615,219</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Treasury Demand Notes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Trading Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">579,986</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other Borrowed Money</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34,076,282</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Acceptances</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Subordinated Notes and Debentures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,760,721</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,772,817</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>Total Liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left"><B>$</B></TD>
    <TD align="right"><B>274,011,394</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Equity</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Minority Interest in Subsidiaries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,761,010</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Common and Preferred Stock</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,200</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Surplus</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,136,872</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Undivided Profits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,041,770</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px"><B>Total Equity Capital</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left"><B>$</B></TD>
    <TD align="right"><B>31,957,852</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Liabilities and Equity Capital</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left"><B>$</B></TD>
    <TD align="right"><B>305,969,246</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>




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