Common use of FORMS OF SECURITY Clause in Contracts

FORMS OF SECURITY. (a) The form of Security is as follows: TRANSITION AUTO FINANCE III, INC. 11% SECURED NOTES DUE AUGUST 31, 2004 No. _________ CUSIP NO. _______ $__________ Transition Auto Finance III, Inc., a corporation duly organized and existing under the laws of the State of Texas (herein referred to as the "Company"), for value received, hereby promises to pay to _____________________ or registered assigns, the principal sum of ____________________________ dollars on August 31, 2004 (the "Stated Maturity" of such principal), and to pay interest (computed on the basis of a 360-day year consisting of 12 months of 30 days each) on the unpaid portion of said principal sum outstanding from time to time from the date of issue, until the principal amount of this Note is paid in full at the rate of 11% per annum, which interest shall be due and payable on the fifteenth day of each calendar month (for such interest accruing during the preceding month or months) commencing with the second calendar month after the issuance hereof and upon the Stated Maturity (each a "Payment Date"). The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Company with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note. Any installment of interest that is not paid when and as due shall bear interest at the Overdue Interest Rate from the date due to the date of payment thereof, but only to the extent payment of such interest shall be lawful and enforceable. This Note represents a general obligation of the Company.

FORMS OF SECURITY. (a) The form of Security is as follows: TRANSITION AUTO FINANCE IIIIV, INC. 119.0% SECURED REDEEMABLE PROMISSORY NOTES DUE AUGUST 31_________, 2004 2006 No. _________ CUSIP NO. _______ $__________ Transition Auto Finance IIIIV, Inc., a corporation duly organized and existing under the laws of the State of Texas (herein referred to as the "Company"), for value received, hereby promises to pay to ______________________ or registered assigns, the principal sum of ____________________________ dollars on August 31________, 2004 2006 (the "Stated Maturity" of such principal), and to pay interest (computed on the basis of a 360-day year consisting of 12 months of 30 days each) on the unpaid portion of said principal sum outstanding from time to time from the date of issue, until the principal amount of this Note is paid in full at the rate of 119.0% per annum, which interest shall be due and payable on the fifteenth day of each calendar month (for such interest accruing during the preceding month or months) commencing with the second calendar month after the issuance hereof and upon the Stated Maturity (each a "Payment Date"). The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Company with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note. Any installment of interest that is not paid when and as due shall bear interest at the Overdue Interest Rate from the date due to the date of payment thereof, but only to the extent payment of such interest shall be lawful and enforceable. This Note represents a general obligation of the Company. This Note is one of a duly authorized issue of Notes of the Company, designated as its 9.0% Secured Redeemable Promissory Notes (herein called the "Notes"), all issued and to be issued under the Indenture dated as of _______________, 2001 (herein called the "Indenture"), between the Company and Trust Management, Inc. (the "Trustee," which term includes any successor Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. All terms used in this Note that are capitalized, if not defined herein, are defined in the Indenture and shall have the meanings assigned to them in the Indenture. Payment of the outstanding principal of and accrued interest on this Note at the Stated Maturity or of the Redemption Price payable on any Redemption Date as of which this Note has been called for redemption shall be made upon presentation of this Note to the Paying Agent appointed by the Company for such purpose. Payments of all installments of interest due and payable on any Payment Date (other than the Stated Maturity) shall be made by check mailed to the Person whose name appears as the Holder of this Note on the Note Register as of the first Business Day of the month in which such Payment Date occurs (the "Record Date") without requiring that this Note be submitted for notation of payment. Checks returned undelivered will be held for payment to the Person entitled thereto, subject to the terms of the Indenture, at the office or agency in the United States of America designated by the Company for such purpose pursuant to the Indenture. The payment of principal and accrued interest on the Notes, when due, is secured by the Trust Estate, which consists of, among other things, a first priority security interest in specific motor vehicle lease Contracts, the Leased Vehicles described therein and the funds in the Sinking Fund Account. If an Event of Default shall occur and be continuing with respect to the Notes, the Notes, and all principal and unpaid accrued interest, may be declared due and payable in the manner and with the effect provided in the Indenture. The Company and each surety, endorser, guarantor, and other party, if any, now or hereafter liable for payment of any sums of money payable on this Note, jointly and severally, waive presentment and demand for payment, notice of intent to accelerate and notice of acceleration, protest and notice of protest and nonpayment, and diligence in collecting or bringing suit against any party hereon, and agree that their liability on this Note shall not be affected by any renewal or extension in time of payment hereof, by any indulgence, or by any release, modification, or substitution of any security for the payment of this Note, and hereby consent to any and all extensions, renewals, replacements, waivers, releases, or exchanges affecting this Note and the taking, release, modification, or substitution of any security, with or without notice and before or after maturity. The Notes are redeemable at the option of the Company on any Payment Date following the Sinking Fund Trigger Date, in whole or in part, at 100% of the unpaid principal amount thereof, together with accrued and unpaid interest thereon to the Redemption Date; provided, however, that the Paying Agent shall be required to redeem the Notes at such time only to the extent that the Company has theretofore deposited with the Paying Agent money sufficient to effect such redemption. At least 10 but not more than 60 days prior to the Redemption Date, the Company is required to mail a notice of redemption by first class mall to the registered owner of this Note specifying the Redemption Date, the Redemption Price, the name and address of the Paying Agent, that this Note must be delivered to the Paying Agent and that interest on this Note ceases to accrue on and after the Redemption Date. If provision is made for the redemption and payment of this Note in accordance with the Indenture, this Note shall thereupon cease to bear interest from and after the Redemption Date. As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be registered on the Note Register of the Company, upon surrender of this Note for registration of transfer at the office or agency designated by the Company pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal amount will be issued to the designated transferee or transferees. Prior to the due presentment for registration of transfer of this Note, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes under the Indenture at any time by the Company with the consent of the Holders of Notes representing more than 50% of the principal amount of all Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the principal amount of the Notes at the time outstanding, on behalf of the Holders of all the Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Note issued thereunder.

FORMS OF SECURITY. (a) The form of Security is as follows: TRANSITION AUTO FINANCE IIIII, INC. 11% REDEEMABLE SECURED NOTES DUE AUGUST 31JUNE 30, 2004 2002 No. _________ CUSIP NO. _______ $__________ Transition Auto Finance IIIII, Inc., a corporation duly organized and existing under the laws of the State of Texas (herein referred to as the "Company"), for value received, hereby promises to pay to _____________________ or registered assigns, the principal sum of ____________________________ dollars on August 31June 30, 2004 2002 (the "Stated Maturity" of such principal), and to pay interest (computed on the basis of a 360-day year consisting of 12 months of 30 days each) on the unpaid portion of said principal sum outstanding from time to time from the date of issue, until the principal amount of this Note is paid in full at the rate of 11% per annum, which interest shall be due and payable on the fifteenth day of each calendar month (for such interest accruing during the preceding month or months) commencing with the second calendar month after the issuance hereof and upon the Stated Maturity (each a "Payment Date"). The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Company with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note. Any installment of interest that is not paid when and as due shall bear interest at the Overdue Interest Rate from the date due to the date of payment thereof, but only to the extent payment of such interest shall be lawful and enforceable. This Note represents a general obligation of the Company. This Note is one of a duly authorized issue of Notes of the Company, designated as its 11% Redeemable Secured Notes Due June 30, 2002 (herein called the "Notes"), all issued and to be issued under the Indenture dated as of _______________, 1998 (herein called the "Indenture"), between the Company and Trust Management, Inc. (the "Trustee," which term includes any successor Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. All terms used in this Note that are capitalized, if not defined herein, are defined in the Indenture and shall have the meanings assigned to them in the Indenture. Payment of the outstanding principal of and accrued interest on this Note at the Stated Maturity or of the Redemption Price payable on any Redemption Date as of which this Note has been called for redemption shall be made upon presentation of this Note to the Paying Agent appointed by the Company for such purpose. Payments of all installments of interest due and payable on any Payment Date (other than the Stated Maturity) shall be made by check mailed to the Person whose name appears as the Holder of this Note on the Note Register as of the first business day of the month in which such Payment Date occurs (the "Record Date") without requiring that this Note be submitted for notation of payment. Checks returned undelivered will be held for payment to the Person entitled thereto, subject to the terms of the Indenture, at the office or agency in the United States of America designated by the Company for such purpose pursuant to the Indenture. The payment of principal and accrued interest on the Notes, when due, is secured by the Trust Estate, which consists of, among other things, a first priority security interest in specific motor vehicle lease Contracts, the Leased Vehicles described therein and the funds in the Sinking Fund Account. If an Event of Default shall occur and be continuing with respect to the Notes, the Notes, and all principal and unpaid accrued interest, may be declared due and payable in the manner and with the effect provided in the Indenture. The Notes are redeemable at the option of the Company on any Payment Date following the Sinking Fund Trigger Date, in whole or in part, at 100% of the unpaid principal amount thereof, together with accrued and unpaid interest thereon to the Redemption Date; provided, however, that the Paying Agent shall be required to redeem the Notes at such time only to the extent that the Company has theretofore deposited with the Paying Agent money sufficient to effect such redemption. At least 10 but not more than 60 days prior to the Redemption Date, the Company is required to mail a notice of redemption by first class mall to the registered owner of this Note specifying the Redemption Date, the Redemption Price, the name and address of the Paying Agent, that this Note must be delivered to the Paying Agent and that interest on this Note ceases to accrue on and after the Redemption Date. If provision is made for the redemption and payment of this Note in accordance with the Indenture, this Note shall thereupon cease to bear interest from and after the Redemption Date. As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be registered on the Note Register of the Company, upon surrender of this Note for registration of transfer at the office or agency designated by the Company pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal amount will be issued to the designated transferee or transferees. Prior to the due presentment for registration of transfer of this Note, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes under the Indenture at any time by the Company with the consent of the Holders of Notes representing more than 50% of the principal amount of all Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the principal amount of the Notes at the time outstanding, on behalf of the Holders of all the Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Note issued thereunder.

FORMS OF SECURITY. (a) The form of Security is as follows: TRANSITION AUTO FINANCE IIIII, INC. 1110% REDEEMABLE SECURED NOTES DUE AUGUST 31JUNE 30, 2004 2002 No. _________ CUSIP NO. _______ $__________ Transition Auto Finance IIIII, Inc., a corporation duly organized and existing under the laws of the State of Texas (herein referred to as the "Company"), for value received, hereby promises to pay to _____________________ or registered assigns, the principal sum of ____________________________ dollars on August 31June 30, 2004 2002 (the "Stated Maturity" of such principal), and to pay interest (computed on the basis of a 360-day year consisting of 12 months of 30 days each) on the unpaid portion of said principal sum outstanding from time to time from the date of issue, until the principal amount of this Note is paid in full at the rate of 1110% per annum, which interest shall be due and payable on the fifteenth day of each calendar month (for such interest accruing during the preceding month or months) commencing with the second calendar month after the issuance hereof and upon the Stated Maturity (each a "Payment Date"). The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Company with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note. Any installment of interest that is not paid when and as due shall bear interest at the Overdue Interest Rate from the date due to the date of payment thereof, but only to the extent payment of such interest shall be lawful and enforceable. This Note represents a general obligation of the Company. This Note is one of a duly authorized issue of Notes of the Company, designated as its 10% Redeemable Secured Notes Due June 30, 2002 (herein called the "Notes"), all issued and to be issued under the Indenture dated as of _______________, 1998 (herein called the "Indenture"), between the Company and Trust Management, Inc. (the "Trustee," which term includes any successor Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. All terms used in this Note that are capitalized, if not defined herein, are defined in the Indenture and shall have the meanings assigned to them in the Indenture. Payment of the outstanding principal of and accrued interest on this Note at the Stated Maturity or of the Redemption Price payable on any Redemption Date as of which this Note has been called for redemption shall be made upon presentation of this Note to the Paying Agent appointed by the Company for such purpose. Payments of all installments of interest due and payable on any Payment Date (other than the Stated Maturity) shall be made by check mailed to the Person whose name appears as the Holder of this Note on the Note Register as of the first business day of the month in which such Payment Date occurs (the "Record Date") without requiring that this Note be submitted for notation of payment. Checks returned undelivered will be held for payment to the Person entitled thereto, subject to the terms of the Indenture, at the office or agency in the United States of America designated by the Company for such purpose pursuant to the Indenture. The payment of principal and accrued interest on the Notes, when due, is secured by the Trust Estate, which consists of, among other things, a first priority security interest in specific motor vehicle lease Contracts, the Leased Vehicles described therein and the funds in the Sinking Fund Account. If an Event of Default shall occur and be continuing with respect to the Notes, the Notes, and all principal and unpaid accrued interest, may be declared due and payable in the manner and with the effect provided in the Indenture. The Notes are redeemable at the option of the Company on any Payment Date following the Sinking Fund Trigger Date, in whole or in part, at 100% of the unpaid principal amount thereof, together with accrued and unpaid interest thereon to the Redemption Date; provided, however, that the Paying Agent shall be required to redeem the Notes at such time only to the extent that the Company has theretofore deposited with the Paying Agent money sufficient to effect such redemption. At least 10 but not more than 60 days prior to the Redemption Date, the Company is required to mail a notice of redemption by first class mall to the registered owner of this Note specifying the Redemption Date, the Redemption Price, the name and address of the Paying Agent, that this Note must be delivered to the Paying Agent and that interest on this Note ceases to accrue on and after the Redemption Date. If provision is made for the redemption and payment of this Note in accordance with the Indenture, this Note shall thereupon cease to bear interest from and after the Redemption Date. As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be registered on the Note Register of the Company, upon surrender of this Note for registration of transfer at the office or agency designated by the Company pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal amount will be issued to the designated transferee or transferees. Prior to the due presentment for registration of transfer of this Note, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes under the Indenture at any time by the Company with the consent of the Holders of Notes representing more than 50% of the principal amount of all Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the principal amount of the Notes at the time outstanding, on behalf of the Holders of all the Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Note issued thereunder.

FORMS OF SECURITY. (a) The form of Security is as follows: TRANSITION AUTO FINANCE IIIII, INC. 11% REDEEMABLE SECURED NOTES DUE AUGUST 31JUNE 30, 2004 2002 No. _________ CUSIP NO. _______ $__________ Transition Auto Finance IIIII, Inc., a corporation duly organized and existing under the laws of the State of Texas (herein referred to as the "Company"), for value received, hereby promises to pay to _____________________ or registered assigns, the principal sum of ____________________________ dollars on August 31June 30, 2004 2002 (the "Stated Maturity" of such principal), and to pay interest (computed on the basis of a 360-day year consisting of 12 months of 30 days each) on the unpaid portion of said principal sum outstanding from time to time from the date of issue, until the principal amount of this Note is paid in full at the rate of 11% per annum, which interest shall be due and payable on the fifteenth day of each calendar month (for such interest accruing during the preceding month or months) commencing with the second calendar month after the issuance hereof and upon the Stated Maturity (each a "Payment Date"). The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Company with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note. Any installment of interest that is not paid when and as due shall bear interest at the Overdue Interest Rate from the date due to the date of payment thereof, but only to the extent payment of such interest shall be lawful and enforceable. This Note represents a general obligation of the Company. This Note is one of a duly authorized issue of Notes of the Company, designated as its 11% Redeemable Secured Notes Due June 30, 2002 (herein called the "Notes"), all issued and to be issued under the Indenture dated as of _______________, 1998 (herein called the "Indenture"), between the Company and Trust Management, Inc. (the "Trustee," which term includes any successor Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. All terms used in this Note that are capitalized, if not defined herein, are defined in the Indenture and shall have the meanings assigned to them in the Indenture. Payment of the outstanding principal of and accrued interest on this Note at the Stated Maturity or of the Redemption Price payable on any Redemption Date as of which this Note has been called for redemption shall be made upon presentation of this Note to the Paying Agent appointed by the Company for such purpose. Payments of all installments of interest due and payable on any Payment Date (other than the Stated Maturity) shall be made by check mailed to the Person whose name appears as the Holder of this Note on the Note Register as of the first business day of the month in which such Payment Date occurs (the "Record Date") without requiring that this Note be submitted for notation of payment. Checks returned undelivered will be held for payment to the Person entitled thereto, subject to the terms of the Indenture, at the office or agency in the United States of America designated by the Company for such purpose pursuant to the Indenture. The payment of principal and accrued interest on the Notes, when due, is secured by the Trust Estate, which consists of, among other things, a first priority security interest in specific motor vehicle lease Contracts, the Leased Vehicles described therein and the funds in the Sinking Fund Account. If an Event of Default shall occur and be continuing with respect to the Notes, the Notes, and all principal and unpaid accrued interest, may be declared due and payable in the manner and with the effect provided in the Indenture. The Company and each surety, endorser, guarantor, and other party, if any, now or hereafter liable for payment of any sums of money payable on this Note, jointly and severally, waive presentment and demand for payment, notice of intent to accelerate and notice of acceleration, protest and notice of protest and nonpayment, and diligence in collecting or bringing suit against any party liable hereon, and agree that their liability on this Note shall not be affected by any renewal or extension in time of payment hereof, by any indulgence, or by any release, modification, or substitution of any security for the payment of this Note, and hereby consent to any and all extensions, renewals, replacements, waivers, releases, or exchanges affecting this Note and the taking, release, modification, or substitution of any security, with or without notice and before or after maturity. 14 The Notes are redeemable at the option of the Company on any Payment Date following the Sinking Fund Trigger Date, in whole or in part, at 100% of the unpaid principal amount thereof, together with accrued and unpaid interest thereon to the Redemption Date; provided, however, that the Paying Agent shall be required to redeem the Notes at such time only to the extent that the Company has theretofore deposited with the Paying Agent money sufficient to effect such redemption. At least 10 but not more than 60 days prior to the Redemption Date, the Company is required to mail a notice of redemption by first class mall to the registered owner of this Note specifying the Redemption Date, the Redemption Price, the name and address of the Paying Agent, that this Note must be delivered to the Paying Agent and that interest on this Note ceases to accrue on and after the Redemption Date. If provision is made for the redemption and payment of this Note in accordance with the Indenture, this Note shall thereupon cease to bear interest from and after the Redemption Date. As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be registered on the Note Register of the Company, upon surrender of this Note for registration of transfer at the office or agency designated by the Company pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal amount will be issued to the designated transferee or transferees. Prior to the due presentment for registration of transfer of this Note, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes under the Indenture at any time by the Company with the consent of the Holders of Notes representing more than 50% of the principal amount of all Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the principal amount of the Notes at the time outstanding, on behalf of the Holders of all the Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Note issued thereunder.