Common use of SUBORDINATION OF SECURITIES Clause in Contracts

SUBORDINATION OF SECURITIES. 75 SECTION 13.1. Securities Subordinate to Senior and Subordinated Debt........ 75 SECTION 13.2. Payment Over of Proceeds Upon Dissolution, Etc................ 75 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.6. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. Trustee to Effectuate Subordination........................... 79 SECTION 13.9. No Waiver of Subordination Provisions......................... 80 SECTION 13.10. Notice to Trustee............................................. 80 SECTION 13.11. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").

SUBORDINATION OF SECURITIES. 75 47 SECTION 13.1. 10.01 Securities Subordinate Subordinated to Senior and Debt................................................47 SECTION 10.02 No Payment on Securities in Certain Circumstances.....................................47 SECTION 10.03 Securities Subordinated Debt........ 75 SECTION 13.2. to Prior Payment Over of Proceeds Upon All Senior Debt on Dissolution, Etc................ 75 Liquidation or Reorganization.........................................................48 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.6. 10.04 Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 .......................................49 SECTION 13.7. Provisions Solely 10.05 Obligations of the Company Unconditional..............................................50 SECTION 10.06 Trustee Entitled to Define Relative Rights................... 79 Assume Payments Not Prohibited in Absence of Notice...............50 SECTION 13.8. 10.07 Application by Trustee of Amounts Deposited with It...................................50 SECTION 10.08 Subordination Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior Debt...........................................................................51 SECTION 10.09 Trustee to Effectuate Subordination........................... 79 Subordination of Securities.....................................51 SECTION 13.9. 10.10 Right of Trustee to Hold Senior Debt..................................................52 SECTION 10.11 Article X Not to Prevent Events of Default............................................52 SECTION 10.12 No Waiver Fiduciary Duty of Subordination Provisions......................... 80 SECTION 13.10. Notice Trustee to Trustee............................................. 80 SECTION 13.11. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 ................................52 SECTION 13.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. 10.13 Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Agent....................................................52 ARTICLE XI MISCELLANEOUS..............................................................................52

SUBORDINATION OF SECURITIES. 75 SECTION 13.18.01. Securities Subordinate Subordinated to Senior and Subordinated Debt........ 75 Indebtedness..............................72 SECTION 13.28.02. No Payment on Securities in Certain Circumstances...........................72 SECTION 8.03. Payment Over of Proceeds Upon upon Dissolution, Etc................ 75 etc..............................73 SECTION 13.38.04. Prior Payment to Senior and Subordinated Debt Upon Acceleration Subrogation.................................................................74 SECTION 8.05. Obligations of Securities.......................... 76 Company Unconditional........................................74 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.6. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. Trustee to Effectuate Subordination........................... 79 SECTION 13.9. No Waiver of Subordination Provisions......................... 80 SECTION 13.108.06. Notice to Trustee............................................. 80 ...........................................................75 SECTION 13.118.07. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 ..............76 SECTION 13.128.08. Trustee Trustee's Relation to Senior Indebtedness...................................76 SECTION 8.09. Subordination Rights Not Fiduciary for Impaired by Acts or Omissions of the Company or Holders of Senior and Subordinated Debt.................................. 81 Indebtedness.....................................76 SECTION 13.138.10. Rights Securityholders Authorize Trustee To Effectuate Subordination of Trustee as Holder Securities............................................................76 SECTION 8.11. This Article Not To Prevent Events of Senior Debt; Preservation of Default...............................77 SECTION 8.12. Trustee's Rights.............................. 82 Compensation Not Prejudiced.......................................77 SECTION 13.148.13. Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED No Waiver of Subordination Provisions.......................................77 ARTICLE NINE DISCHARGE OF INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").

SUBORDINATION OF SECURITIES. 75 SECTION 13.1Section 14.1. Securities Subordinate to Senior and Subordinated Debt........ 75 SECTION 13.2............................................. 86 Section 14.2. No Payment When Senior Debt in Default; Payment Over of Proceeds Upon Dissolution, Etc................ 75 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5........................................................... 86 Section 14.3. Payment Permitted If No Default............................... 78 SECTION 13.6................................................... 88 Section 14.4. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7................................... 88 Section 14.5. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8....................................... 88 Section 14.6. Trustee to Effectuate Subordination........................... 79 SECTION 13.9............................................... 89 Section 14.7. No Waiver of Subordination Provisions......................... 80 SECTION 13.10............................................. 89 Section 14.8. Notice to Trustee............................................. 80 SECTION 13.11................................................................. 90 Section 14.9. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12.................... 90 Section 14.10. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.1391 Section 14.11. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14.......................................................................... 91 Section 14.12. Article Applicable to Paying Agents........................... 82 SECTION 13.15. .............................................. 91 -vi- .............................................................. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURESections of this Indenture relating to Sections 310 through 318, dated as inclusive, of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Trust Indenture Act of 1939:

SUBORDINATION OF SECURITIES. 75 114 SECTION 13.11301. Securities Subordinate to Senior and Subordinated Debt........ 75 Indebtedness..............................................114 SECTION 13.21302. Payment Over over of Proceeds Upon upon Dissolution, Etc................ 75 .............................................115 SECTION 13.31303. Prior Suspension of Payment to When Senior and Subordinated Debt Upon Indebtedness in Default..................................115 SECTION 1304. Acceleration of Securities.......................... 76 .................................................................116 SECTION 13.41305. No Payment When Senior and Subordinated Debt in Default.................................. 77 Distribution Must Be Paid Over........................................................116 SECTION 13.51306. Notice by Company..........................................................................117 SECTION 1307. Payment Permitted If if No Default............................... 78 ............................................................117 SECTION 13.61308. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 Indebtedness....................................117 SECTION 13.71309. Provisions Solely to Define Relative Rights................... 79 ................................................117 SECTION 13.81310. Trustee to Effectuate Subordination........................... 79 ........................................................118 SECTION 13.91311. No Waiver of Subordination Provisions......................... 80 May Not Be Impaired by Company...............................................118 SECTION 13.101312. Distribution or Notice to Representative...................................................118 SECTION 1313. Notice to Trustee............................................. 80 ..........................................................................118 SECTION 13.111314. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 .............................119 SECTION 13.121315. Rights of Trustee as a Holder of Senior Indebtedness; Preservation of Trustee's Rights.....119 SECTION 1316. Article Applicable to Paying Agents........................................................120 SECTION 1317. No Suspension of Remedies..............................................................120 SECTION 1318. Modification of Terms of Senior Indebtedness...........................................120 SECTION 1319. Trust Moneys Not Subordinated..........................................................120 SECTION 1320. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Indebtedness...............................121

SUBORDINATION OF SECURITIES. 75 SECTION 13.1. Securities Section 15.01 Agreement to Subordinate to Senior and Subordinated Debt........ 75 SECTION 13.2. Payment Over of Proceeds Upon .....................................................................................64 Section 15.02 Distribution on Dissolution, Etc................ 75 SECTION 13.3. Prior Payment to Senior Liquidation and Subordinated Debt Upon Acceleration Reorganization; Subrogation of Securities.......................... 76 SECTION 13.4. Securities ...........................................................................................................64 Section 15.03 No Payment When on Securities in Event of Default on Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Indebtedness ................66 Section 15.04 Payments on Securities Permitted If No Default............................... 78 SECTION 13.6. Subrogation ..........................................................................66 Section 15.05 Authorization of Securityholders to Rights of Holders Trustee to Effect Subordination ...................67 Section 15.06 Notices to Trustee ..................................................................................................67 Section 15.07 Trustee as Holder of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. Trustee to Effectuate Subordination........................... 79 SECTION 13.9. No Waiver Indebtedness .............................................................67 Section 15.08 Modifications of Subordination Provisions......................... 80 SECTION 13.10. Notice to Trustee............................................. 80 SECTION 13.11. Terms of Senior Indebtedness ....................................................68 Section 15.09 Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. Agent ............................68 Section 15.10 Satisfaction and Discharge; Discharge and Covenant Defeasance ........................68 Section 15.11 Trustee Not Fiduciary for Holders of Senior Indebtedness ...................................68 ARTICLE XVI MISCELLANEOUS PROVISIONS Section 16.01 Certificates and Subordinated Debt.................................. 81 SECTION 13.13. Rights Opinions as to Conditions Precedent ...........................................69 Section 16.02 Trust Indenture Act Controls .................................................................................70 Section 16.03 Notices; Waiver of Trustee as Holder Notice .....................................................................................70 Section 16.04 No Adverse Interpretation of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Other Agreements ...................................................71 Section 16.05

SUBORDINATION OF SECURITIES. 75 SECTION 13.114.01. Securities Subordinate to Senior and Senior Subordinated Debt........ 75 ..........................................98 SECTION 13.214.02. Payment Over of Proceeds Upon upon Dissolution, Etc................ 75 ..............99 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.414.03. No Payment When Senior and Senior Subordinated Debt in Default.................................. 77 ...........................................100 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.614.04. Subrogation to Rights of Holders of Senior and Senior Subordinated Debt............................................. 78 .........................................102 SECTION 13.714.05. Provisions Solely to Define Relative Rights................... 79 ................102 SECTION 13.8. Trustee to Effectuate Subordination........................... 79 SECTION 13.914.06. No Waiver of Subordination Provisions......................... 80 ......................103 SECTION 13.1014.07. Notice to Trustee............................................. 80 ..........................................103 SECTION 13.1114.08. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 .....................................................104 SECTION 13.1214.09. Rights of Trustee as a Holder of Senior and Senior Subordinated Debt; Preservation of Trustee's Rights.......105 SECTION 14.10. Article Applicable to Paying Agents........................105 SECTION 14.11. Trustee Not Fiduciary for Holders of Senior and Senior Subordinated Debt.................................. 81 .........................................105 SECTION 13.1314.12. Rights No Suspension of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 Remedies..................................106 SECTION 13.1414.13. Article Applicable Fourteen Not to Paying Agents........................... 82 Prevent Events of Default..........106 SECTION 13.1514.14. Notices to Agent Bank......................................106 SECTION 14.15. Inapplicability of Article Fourteen to Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, Trustees Monies and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Certain Payments...............................107

SUBORDINATION OF SECURITIES. 75 SECTION 13.1. Section 13.1 Securities Subordinate to Senior and Subordinated Debt........ 75 SECTION 13.2. Indebtedness......................................... 69 Section 13.2 No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc................ 75 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. ...................................................................... 69 Section 13.3 Payment Permitted If No Default............................... 78 SECTION 13.6. ....................................................... 71 Section 13.4 Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Indebtedness............................... 71 Section 13.5 Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. ........................................... 72 Section 13.6 Trustee to Effectuate Subordination........................... 79 SECTION 13.9. ................................................... 72 Section 13.7 No Waiver of Subordination Provisions......................... 80 SECTION 13.10. ................................................. 72 Section 13.8 Notice to Trustee............................................. 80 SECTION 13.11. ..................................................................... 73 Section 13.9 Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. ........................ 73 Section 13.10 Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13. Indebtedness.............................. 74 Section 13.11 Rights of Trustee as Holder of Senior DebtIndebtedness; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. ................................................................................ 74 Section 13.12 Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED ................................................... 74 ANNEX A - Form of Trust Agreement ANNEX B - Form of Amended and Restated Trust Agreement ANNEX C - Form of Guarantee Agreement ANNEX D - Form of Certificate INDENTURE, dated as of November 15October 3, 19962006, between FIRST BANK SYSTEM, INC.CITIZENS BANKING CORPORATION, a Delaware Michigan corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx Xxxxxxx Xxxxxx, Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx Xxxxxxxx 00000, and WILMINGTON TRUST COMPANYU.S. BANK NATIONAL ASSOCIATION, a Delaware national banking corporationassociation, duly organized and existing under the laws of the United States of America, having its designated corporate trust office at 000 Xxxx Xx., Xxxxx 0000, Xxx Xxxx, XX 00000, as Trustee (hereinafter called the "Trustee").

SUBORDINATION OF SECURITIES. 75 SECTION 66 Section 13.1. Securities Subordinate to Senior and Subordinated Debt........ 75 SECTION Indebtedness.................. 66 Section 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc................ 75 SECTION ................. 67 Section 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Permitted If if No Default............................... 78 SECTION 13.6................................ 68 Section 13.4. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7Indebtedness................................................... 68 Section 13.5. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8.................... 69 Section 13.6. Trustee to Effectuate Subordination........................... 79 SECTION 13.9. ............................ 69 Section 13.7 No Waiver of Subordination Provisions......................... 80 SECTION 13.10.......................... 69 Section 13.8. Notice to Trustee............................................. 80 SECTION 13.11.............................................. 70 Section 13.9. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12.............................................. 71 Section 13.10. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13Indebtedness................................................... 71 Section 13.11. Rights of Trustee as Holder of Senior DebtIndebtedness; Preservation of Trustee's Rights.............................. 82 SECTION 13.1471 Section 13.12. Article Applicable to Paying Agents........................... 82 SECTION 13.15............................ 71 Section 13.13. Certain Conversions or Exchanges Seemed Deemed Payment............... 82 ................ 71 ANNEX A FORM OF RESTRICTED SECURITIES CERTIFICATE............................ A-1 JUNIOR SUBORDINATED INDENTURE ----------------------------- THIS JUNIOR SUBORDINATED INDENTURE, dated as of November 15__________, 1996, 2000 between FIRST BANK SYSTEM, INC.PROVIDENT BANKSHARES CORPORATION, a Delaware Maryland corporation (hereinafter called the "Company") ), having its principal office at 000 Xxxxxx Xxxxxx XxxxxXxxx Xxxxxxxxx Xxxxxx, XxxxxxxxxxxXxxxxxxxx, Xxxxxxxxx 00000, Xxxxxxxx 00000 and WILMINGTON BANKERS TRUST COMPANY, a Delaware banking corporationas Trustee, as Trustee having its principal office at Four Albany Street, 4th Floor, New York, New York 10006 (hereinafter called the "Trustee").

SUBORDINATION OF SECURITIES. 75 49 SECTION 13.1. 10.01 Securities Subordinate Subordinated to Senior and Debt................................................ 49 SECTION 10.02 No Payment on Securities in Certain Circumstances..................................... 50 SECTION 10.03 Securities Subordinated Debt........ 75 SECTION 13.2. to Prior Payment Over of Proceeds Upon All Senior Debt on Dissolution, Etc................ 75 Liquidation or Reorganization......................................................... 51 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.6. 10.04 Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 ....................................... 52 SECTION 13.7. Provisions Solely 10.05 Obligations of the Company Unconditional.............................................. 52 SECTION 10.06 Trustee Entitled to Define Relative Rights................... 79 Assume Payments Not Prohibited in Absence of Notice............... 53 SECTION 13.8. 10.07 Application by Trustee of Amounts Deposited with It................................... 53 SECTION 10.08 Subordination Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior Debt........................................................................... 54 SECTION 10.09 Trustee to Effectuate Subordination........................... 79 Subordination of Securities..................................... 54 SECTION 13.9. 10.10 Right of Trustee to Hold Senior Debt.................................................. 54 SECTION 10.11 Article X Not to Prevent Events of Default............................................ 54 SECTION 10.12 No Waiver Fiduciary Duty of Subordination Provisions......................... 80 SECTION 13.10. Notice Trustee to Trustee............................................. 80 SECTION 13.11. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 ................................ 55 SECTION 13.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. 10.13 Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Agent.................................................... 55 ARTICLE XI MISCELLANEOUS......................................................................................... 55

SUBORDINATION OF SECURITIES. 75 SECTION 13.1. Securities Section 15.01 Agreement to Subordinate to Senior and Subordinated Debt........ 75 SECTION 13.2. Payment Over of Proceeds Upon .....................................................................................65 Section 15.02 Distribution on Dissolution, Etc................ 75 SECTION 13.3. Prior Payment to Senior Liquidation and Subordinated Debt Upon Acceleration Reorganization; Subrogation of Securities.......................... 76 SECTION 13.4. Securities ...........................................................................................................65 Section 15.03 No Payment When on Securities in Event of Default on Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Indebtedness ................66 Section 15.04 Payments on Securities Permitted If No Default............................... 78 SECTION 13.6. Subrogation ..........................................................................67 Section 15.05 Authorization of Securityholders to Rights of Holders Trustee to Effect Subordination ...................67 Section 15.06 Notices to Trustee ..................................................................................................67 Section 15.07 Trustee as Holder of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. Trustee to Effectuate Subordination........................... 79 SECTION 13.9. No Waiver Indebtedness .............................................................68 Section 15.08 Modifications of Subordination Provisions......................... 80 SECTION 13.10. Notice to Trustee............................................. 80 SECTION 13.11. Terms of Senior Indebtedness ....................................................68 Section 15.09 Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. Agent ............................68 Section 15.10 Satisfaction and Discharge; Defeasance and Covenant Defeasance ......................69 Section 15.11 Trustee Not Fiduciary for Holders of Senior Indebtedness ...................................69 ARTICLE XVI MISCELLANEOUS PROVISIONS Section 16.01 Certificates and Subordinated Debt.................................. 81 SECTION 13.13. Rights of Opinions as to Conditions Precedent ...........................................69 Section 16.02 Trust Indenture Act Controls .................................................................................70 Section 16.03 Notices to the Company and Trustee as Holder of Senior Debt.....................................................................70 Section 16.04 Notices to Securityholders; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Waiver .......................................................................71 Section 16.05

SUBORDINATION OF SECURITIES. 75 SECTION 13.1. Securities Section 15.01 Agreement to Subordinate to Senior and Subordinated Debt........ 75 SECTION 13.2. Payment Over of Proceeds Upon .....................................................................................66 Section 15.02 Distribution on Dissolution, Etc................ 75 SECTION 13.3. Prior Payment to Senior Liquidation and Subordinated Debt Upon Acceleration Reorganization; Subrogation of Securities.......................... 76 SECTION 13.4. Securities ...........................................................................................................66 Section 15.03 No Payment When on Securities in Event of Default on Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Indebtedness ................68 Section 15.04 Payments on Securities Permitted If No Default............................... 78 SECTION 13.6. Subrogation ..........................................................................68 Section 15.05 Authorization of Securityholders to Rights of Holders Trustee to Effect Subordination ...................69 Section 15.06 Notices to Trustee ..................................................................................................69 Section 15.07 Trustee as Holder of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. Trustee to Effectuate Subordination........................... 79 SECTION 13.9. No Waiver Indebtedness .............................................................70 Section 15.08 Modifications of Subordination Provisions......................... 80 SECTION 13.10. Notice to Trustee............................................. 80 SECTION 13.11. Terms of Senior Indebtedness ....................................................70 Section 15.09 Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. Agent ............................70 Section 15.10 Satisfaction and Discharge; Defeasance and Covenant Defeasance ......................70 Section 15.11 Trustee Not Fiduciary for Holders of Senior Indebtedness ...................................70 ARTICLE XVI MISCELLANEOUS PROVISIONS Section 16.01 Certificates and Subordinated Debt.................................. 81 SECTION 13.13. Rights of Trustee Opinions as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Conditions Precedent ...........................................71 Section 16.02

SUBORDINATION OF SECURITIES. 75 SECTION 13.1. 97 Section 13.1 Securities Subordinate to Senior and Subordinated Debt........ 75 SECTION 13.2. Indebtedness.......................................... 97 Section 13.2 Payment Over of Proceeds Upon upon Dissolution, Etc................ 75 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration etc......................................... 97 Section 13.3 Suspension of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt Indebtedness in Default.................................. 77 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.6. .............................. 98 Section 13.4 Trustee's Relation to Senior Indebtedness.............................................. 100 Section 13.5 Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Indebtedness................................ 100 Section 13.6 Provisions Solely to To Define Relative Rights................... 79 SECTION 13.8. ............................................ 101 Section 13.7 Trustee to To Effectuate Subordination........................... 79 SECTION 13.9. .................................................... 101 Section 13.8 No Waiver of Subordination Provisions......................... 80 SECTION 13.10. .................................................. 101 Section 13.9 Notice to Trustee............................................. 80 SECTION 13.11. ...................................................................... 102 Section 13.10 Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13. ......................... 103 Section 13.11 Rights of Trustee as Holder of Senior DebtIndebtedness; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. ................................................................................. 103 Section 13.12 Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as .................................................... 103 Section 13.13 No Suspension of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Remedies.............................................................. 103

SUBORDINATION OF SECURITIES. 75 SECTION 13.114.01. Securities Subordinate to Senior and Subordinated Debt........ 75 .................. 99 SECTION 13.214.02. Payment Over of Proceeds Upon Dissolution, Etc................ 75 ......... 99 SECTION 13.314.03. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 ........................................... 101 SECTION 13.414.04. No Payment When Senior and Subordinated Debt in Default.................................. 77 ................. 101 SECTION 13.514.05. Payment Permitted If No Default............................... 78 ........................ 102 SECTION 13.614.06. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 ........ 103 SECTION 13.714.07. Provisions Solely to Define Relative Rights................... 79 ............ 103 SECTION 13.814.08. Trustee to Effectuate Subordination........................... 79 .................... 104 SECTION 13.914.09. No Waiver of Subordination Provisions......................... 80 .................. 104 SECTION 13.1014.10. Notice to Trustee............................................. 80 ...................................... 104 SECTION 13.1114.11. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 .................................... 105 SECTION 13.1214.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 ....... 105 SECTION 13.1314.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 ..................... 105 SECTION 13.1414.14. Article Applicable to Paying Agents........................... 82 .................... 105 SECTION 13.1514.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTUREDeemed Payments....... 105 Exhibit A - Form of Restricted Securities Certificate CENTRAL FIDELITY BANKS, INC. Reconciliation and tie between the Trust Indenture Act of 1939 (including cross-references to provisions of Sections 310 to and including 317 which, pursuant to Section 318(c) of the Trust Indenture Act of 1939, as amended by the Trust Reform Act of 1990, are a part of and govern the Indenture whether or not physically contained therein) and the Junior Subordinated Indenture, dated as of November 15April 23, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").1997. Indenture Trust Indenture Act Section Section --------------------------- ---------

SUBORDINATION OF SECURITIES. 75 SECTION 13.1. Section 13.1 Securities Subordinate to Senior and Subordinated Debt........ 75 SECTION 13.2. Indebtedness......................................... 69 Section 13.2 No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc................ 75 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. ...................................................................... 69 Section 13.3 Payment Permitted If No Default............................... 78 SECTION 13.6. ....................................................... 71 Section 13.4 Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Indebtedness............................... 71 Section 13.5 Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. ........................................... 72 Section 13.6 Trustee to Effectuate Subordination........................... 79 SECTION 13.9. ................................................... 72 Section 13.7 No Waiver of Subordination Provisions......................... 80 SECTION 13.10. ................................................. 72 Section 13.8 Notice to Trustee............................................. 80 SECTION 13.11. ..................................................................... 73 Section 13.9 Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. ........................ 73 Section 13.10 Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13. Indebtedness.............................. 74 Section 13.11 Rights of Trustee as Holder of Senior DebtIndebtedness; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. ................................................................................ 74 Section 13.12 Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED ................................................... 74 ANNEX A - Form of Trust Agreement ANNEX B - Form of Amended and Restated Trust Agreement ANNEX C - Form of Guarantee Agreement ANNEX D - Form of Certificate INDENTURE, dated as of November 15September [__], 19962006, between FIRST BANK SYSTEM, INC.CITIZENS BANKING CORPORATION, a Delaware Michigan corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx328 South Saginaw Street, XxxxxxxxxxxFlint, Xxxxxxxxx 00000Michigan 48502, and WILMINGTON TRUST COMPANYU.S. BANK NATIONXX XXXXXXXXXXX, a Delaware banking corporationx xxxxxxxx xxxxxxx xxxxxxxxxxx, duly organized and existing under the laws of the United States of America, having its designated corporate trust office at 100 Wall St., Suite 1600, New York, NY 10005, as Trustee (hereinafter called the xxxxxx xxx "TrusteeXxxxxxx").

SUBORDINATION OF SECURITIES. 75 98 SECTION 13.1. Securities Subordinate Subordinated to Senior and Subordinated Debt........ 75 ....................................................98 SECTION 13.2. Securities Subordinated to Prior Payment Over of Proceeds Upon All Senior Debt on Dissolution, Etc................ 75 Liquidation, Reorganization, etc. of the Company...........................98 SECTION 13.3. Prior Payment Holders of Securities to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.6. Subrogation be Subrogated to Rights Right of Holders of Senior and Subordinated Debt............................................. 78 ................100 SECTION 13.4. Obligations of the Company Unconditional.................................................100 SECTION 13.5. Company Not to Make Payments With Respect to Securities in Certain Circumstances..........................................................................101 SECTION 13.6. Trustee Entitled to Assume Payments Not Prohibited in Absence of Notice..................102 SECTION 13.7. Provisions Solely to Define Relative Rights................... 79 Application by Trustee of Monies Deposited With It.......................................103 SECTION 13.8. Subordination Rights Not Impaired by Acts or Omissions of Company or Holders of Senior Debt.................................................................103 SECTION 13.9. Holders of Securities Authorize Trustee to Effectuate Subordination........................... 79 SECTION 13.9. No Waiver Subordination of Subordination Provisions......................... 80 Securities.............................................................................104 SECTION 13.10. Notice Right of Trustee to Hold Senior Debt; Preservation of Trustee............................................. 80 's Rights.................105 SECTION 13.11. Reliance on Judicial Order or Certificate Article XIII Not to Prevent Events of Liquidating Agent............................................. 81 Default..........................................105 SECTION 13.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 .......................................105 SECTION 13.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Trust Monies Not Subordinated..........................................................105

SUBORDINATION OF SECURITIES. 75 101 SECTION 13.112.1. Securities Subordinate to Senior and Subordinated Debt........ 75 Indebtedness. .......101 SECTION 13.212.2. Payment Over of Proceeds Upon Dissolution, Etc................ 75 etc. ......101 SECTION 13.312.3. Prior Payment to Senior and Subordinated Debt Indebtedness Upon Acceleration of Securities.......................... 76 . ........................102 SECTION 13.412.4. No Payment When Senior and Subordinated Debt Indebtedness in Default.................................. 77 . ......103 SECTION 13.512.5. Payment Permitted If No Default............................... 78 . .....................104 SECTION 13.612.6. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 Indebtedness. ......................................104 SECTION 13.712.7. Provisions Solely to Define Relative Rights................... 79 . .........105 SECTION 13.812.8. Trustee to Effectuate Subordination........................... 79 . .................105 SECTION 13.912.9. No Waiver of Subordination Provisions......................... 80 . ...............105 SECTION 13.1012.10. Notice to Trustee............................................. 80 . ...................................106 SECTION 13.1112.11. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 . .................................106 SECTION 13.1212.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 Indebtedness. ......................................106 SECTION 13.1312.13. Rights of Trustee as Holder of Senior DebtIndebtedness; Preservation of Trustee's Rights.............................. 82 . ....107 SECTION 13.1412.14. Article Applicable to Paying Agents........................... 82 . .................107 SECTION 13.1512.15. Certain Conversions or Exchanges Seemed Deemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE. .....107 ARTICLE XIII. GUARANTY................................107 SECTION 13.1. Guaranty. ............................................107 SECTION 13.2. Execution and Delivery of Guaranties. ................111 SECTION 13.3. Guarantors May Consolidate, dated as of November 15, 1996, between FIRST BANK SYSTEM, INCetc., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee")on Certain Terms. .............................................112 SECTION 13.4. Release of Guarantors. ...............................112 SECTION 13.5. Additional Guarantors. ...............................113 ARTICLE XIV.

SUBORDINATION OF SECURITIES. 75 SECTION 13.1. Securities Subordinate to Senior and Subordinated Debt........ 75 Indebtedness................ 54 SECTION 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc................ 75 ............................ 55 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Permitted If No Default............................... 78 .............................. 56 SECTION 13.613.4. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 Indebtedness...... 56 SECTION 13.713.5. Provisions Solely to Define Relative Rights................... 79 .................. 56 SECTION 13.813.6. Trustee to Effectuate Subordination........................... 79 .......................... 57 SECTION 13.913.7. No Waiver of Subordination Provisions......................... 80 ........................ 57 SECTION 13.1013.8. Notice to Trustee............................................. 80 ............................................ 57 SECTION 13.1113.9. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 ........................................................ 58 SECTION 13.12. Trustee 13.10.Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 Indebtedness..... 58 SECTION 13.13. Rights 13.11.Rights of Trustee as Holder of Senior DebtIndebtedness; Preservation of Trustee's Rights.............................. 82 ............................. 58 SECTION 13.14. Article 13.12.Article Applicable to Paying Agents........................... 82 SECTION 13.15. .......................... 58 Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as Sections of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called this Junior Subordinated Indenture relating to Sections 310 through 318 of the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Trust Indenture Act of 1939: Trust Indenture Junior Subordinated Act Section Indenture Section _______________ _____________ _

SUBORDINATION OF SECURITIES. 75 SECTION 13.114.01. Agreement to Subordinate.....................................69 SECTION 14.02. Obligation of the Company Unconditional......................71 SECTION 14.03. Limitations on Duties to Holders of Senior Indebtedness of the Company ..............................................71 SECTION 14.04. Notice to Trustee of Facts Prohibiting Payment...............71 SECTION 14.05. Application by Trustee of Moneys Deposited with It...........72 SECTION 14.06. Subrogation..................................................72 SECTION 14.07. Subordination Rights Not Impaired by Acts or Omissions of Company or Holders of Senior Indebtedness of the Company .....................................................72 SECTION 14.08. Authorization of Trustee to Effectuate Subordination of Securities Subordinate to Senior and Subordinated Debt........ 75 ...............................................73 SECTION 13.2. Payment Over of Proceeds Upon Dissolution, Etc................ 75 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.414.09. No Payment When when Senior and Subordinated Debt Indebtedness in Default.................................. 77 ...............73 SECTION 13.514.10. Payment Permitted If No Default............................... 78 SECTION 13.6. Subrogation to Rights Right of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. Trustee to Effectuate Subordination........................... 79 Hold Senior Indebtedness of the Company .....................................................73 SECTION 13.9. No Waiver of Subordination Provisions......................... 80 SECTION 13.10. Notice to Trustee............................................. 80 SECTION 13.11. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.1414.11. Article Applicable XIV Not to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Prevent Defaults..........................74 ARTICLE XV

SUBORDINATION OF SECURITIES. 75 SECTION 13.1. Securities Subordinate 61 14.1 Agreement to Senior and Subordinated Debt........ 75 SECTION 13.2. Payment Over Subordinate......................................................................... 61 14.2 Obligation of Proceeds Upon Dissolution, Etc................ 75 SECTION 13.3. Prior Payment the Company Unconditional.......................................................... 63 14.3 Limitations on Duties to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.6. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Provisions Solely Indebtedness of the Company........................... 63 14.4 Notice to Define Relative Rights................... 79 SECTION 13.8. Trustee of Facts Prohibiting Payment................................................... 63 14.5 Application by Trustee of Moneys Deposited with It............................................... 64 14.6 Subrogation...................................................................................... 64 14.7 Subordination Rights Not Impaired by Acts or Omissions of Company or Holders of Senior Indebtedness of the Company...................................................................... 64 14.8 Authorization of Trustee to Effectuate Subordination........................... 79 SECTION 13.9. Subordination of Securities............................... 65 14.9 No Waiver of Subordination Provisions......................... 80 SECTION 13.10. Notice to Trustee............................................. 80 SECTION 13.11. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. Trustee Not Fiduciary for Holders of Payment when Senior and Subordinated Debt.................................. 81 SECTION 13.13. Rights Indebtedness in Default................................................... 65 14.10 Right of Trustee as Holder to Hold Senior Indebtedness of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. the Company...................................... 65 14.11 Article Applicable Fourteen Not to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").Prevent Defaults......................................................... 66

SUBORDINATION OF SECURITIES. 75 SECTION 13.194 Section 12.01. Securities Subordinate Agreement to Senior and Subordinated Debt........ 75 SECTION 13.2Subordinate..........................94 Section 12.02. Payment Over of Proceeds Upon Distribution on Dissolution, Etc................ 75 SECTION 13.3Liquidation and Reorganization....................................94 Section 12.03. Prior Payment to Senior and Subordinated Debt Indebtedness Upon Acceleration of Securities.......................... 76 SECTION 13.4........................97 Section 12.04. No Payment When on Securities in Event of Default on Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5Indebtedness............................97 Section 12.05. Payment Permitted If No Default............................... 78 SECTION 13.6Payments on Securities Permitted..................99 Section 12.06. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7Indebtedness......................................99 Section 12.07. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8...........................................100 Section 12.08. Authorization of Holders of Securities to Trustee to Effect Subordination..................100 Section 12.09. Notices to Trustee...............................100 Section 12.10. Trustee to Effectuate Subordination........................... 79 SECTION 13.9as Holder of Senior Indebtedness.........101 Section 12.11. No Waiver of Subordination Provisions......................... 80 SECTION 13.10. Notice to Trustee............................................. 80 SECTION 13.11............102 Section 12.12. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12................................102 Section 12.13. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14Indebtedness.....................................102 Section 12.14. Article Applicable to Paying Agents........................... 82 SECTION 13.15..............103 Section 12.15. Certain Conversions or Exchanges Seemed Deemed Payment............... 82 JUNIOR SUBORDINATED ..........................................103 INDENTURE, dated as of November 15__________, 1996, between FIRST BANK SYSTEM, INC.199__ from OCWEN FINANCIAL CORPORATION, a Delaware Florida corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx), Xxxxxxxxxxxto NORWEST BANK MINNESOTA, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANYN.A., a Delaware national banking corporation, as Trustee association (hereinafter called the "Trustee").

SUBORDINATION OF SECURITIES. 75 SECTION 13.114.01. Securities Subordinate to Senior and Subordinated Debt........ 75 .............. 90 SECTION 13.214.02. Payment Over of Proceeds Upon Dissolution, Etc................ 75 ................................. 90 SECTION 13.314.03. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 ....................... 92 SECTION 13.414.04. No Payment When Senior and Subordinated Debt in Default.................................. 77 ............. 93 SECTION 13.514.05. Payment Permitted If No Default............................... 78 .................... 94 SECTION 13.614.06. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 ...................................... 94 SECTION 13.714.07. Provisions Solely to Define Relative Rights................... 79 ........................................... 95 SECTION 13.814.08. Trustee to Effectuate Subordination........................... 79 ................ 95 SECTION 13.914.09. No Waiver of Subordination Provisions......................... 80 .............. 95 SECTION 13.1014.10. Notice to Trustee............................................. 80 .................................. 96 SECTION 13.1114.11. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 ................. 96 SECTION 13.1214.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee")....................................... 96

SUBORDINATION OF SECURITIES. 75 SECTION 13.114.1. Securities Debentures Subordinate to Senior and Subordinated Debt........ 75 Indebtedness...................80 SECTION 13.214.2. Payment Over of Proceeds Upon Dissolution, Etc................ 75 etc..................80 SECTION 13.314.3. Prior Payment to Senior and Subordinated Debt Indebtedness Upon Acceleration of Securities.......................... 76 Debentures.................................................81 SECTION 13.414.4. No Payment When when Senior and Subordinated Debt Indebtedness in Default.................................. 77 ..................82 SECTION 13.514.5. Payment Permitted If if No Default............................... 78 .................................82 SECTION 13.614.6. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 Indebtedness.........83 SECTION 13.714.7. Provisions Solely to Define Relative Rights................... 79 .....................83 SECTION 13.814.8. Trustee to Effectuate Subordination........................... 79 .............................84 SECTION 13.914.9. No Waiver of Subordination Provisions......................... 80 ...........................84 SECTION 13.10. Notice 14.10.Notice to Trustee............................................. 80 ...............................................84 SECTION 13.11. Reliance 00.00.Xxxxxxxx on Judicial Order or Certificate of Liquidating Agent............................................. 81 .............................................85 SECTION 13.12. Trustee 14.12.Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 Indebtedness........85 SECTION 13.13. Rights 14.13.Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 Indebtedness..............86 SECTION 13.14. Article 14.14.Article Applicable to Paying Agents........................... 82 .............................86 SECTION 13.15. Certain 14.15.Certain Conversions or Exchanges Seemed Deemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE.................86 SECTION 00.00.Xxxxx Funds Not Subordinated....................................86 Reconciliation and tie between the Trust Indenture Act of 1939 (including cross-references to provisions of Sections 310 to and including 317 which, pursuant to Section 318(c) of the Trust Indenture Act of 1939, as amended by the Trust Reform Act of 1990, are a part of and govern the Indenture whether or not physically contained therein) and the Indenture, dated as of November March 15, 1996, between FIRST BANK SYSTEM, INC2000., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").

SUBORDINATION OF SECURITIES. 75 SECTION 13.1. Section 1301 Securities Subordinate to Senior and Subordinated Debt........ 75 SECTION 13.2. Indebtedness...................................................... 78 Section 1302 Payment Over of Proceeds Upon Dissolution, Etc................ 75 SECTION 13.3. ..................................................... 78 Section 1303 Prior Payment to Senior and Subordinated Debt Indebtedness Upon Acceleration of Securities.......................... 76 SECTION 13.4. ............................... 80 Section 1304 No Payment When Senior and Subordinated Debt Indebtedness in Default.................................. 77 SECTION 13.5. ..................................................... 80 Section 1305 Payment Permitted If No Default............................... 78 SECTION 13.6. .................................................................... 81 Section 1306 Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Indebtedness............................................ 81 Section 1307 Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. ........................................................ 82 Section 1308 Trustee to Effectuate Subordination........................... 79 SECTION 13.9. ................................................................ 82 Section 1309 No Waiver of Subordination Provisions......................... 80 SECTION 13.10. .............................................................. 82 Section 1310 Notice to Trustee............................................. 80 SECTION 13.11. .................................................................................. 83 Section 1311 Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. ..................................... 83 Section 1312 Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13. Indebtedness........................................... 83 Section 1313 Rights of Trustee as Holder of Senior DebtIndebtedness; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. ............... 84 Section 1314 Article Applicable to Paying Agents........................... 82 SECTION 13.15. ................................................................ 84 Section 1315 Certain Conversions or Exchanges Seemed Deemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE.................................................... 84 Annex A -- Form of Trust Agreement Annex B -- Form of Amended and Restated Trust Agreement Annex C -- Form of Guarantee Agreement THE CHUBB CORPORATION Reconciliation and tie between the Trust Indenture Act of 1939 (including cross-references to provisions of Sections 310 to and including 317 which, pursuant to Section 318(c) of the Trust Indenture Act of 1939, as amended by the Trust Reform Act of 1990, are a part of and govern the Indenture whether or not physically contained therein) and the Junior Subordinated Indenture, dated as of November 15June 4, 1996, between FIRST BANK SYSTEM, INC2003., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").

SUBORDINATION OF SECURITIES. 75 SECTION Section 13.1. Securities Subordinate to Senior and Subordinated Debt........ 75 . .......................66 SECTION 13.2. Payment Over of Proceeds Upon Dissolution, Etc................ 75 . ..............66 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 . ......................67 SECTION 13.513.4. Payment Permitted If No Default............................... 78 . .............................68 SECTION 13.613.5. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 . .............68 SECTION 13.713.6. Provisions Solely to Define Relative Rights................... 79 . .................69 SECTION 13.813.7. Holders of Senior Debt and Trustee to Effectuate Subordination........................... 79 . ...............................................69 SECTION 13.913.8. No Waiver of Subordination Provisions......................... 80 . .......................70 SECTION 13.1013.9. Notice to Trustee............................................. 80 , Notice to Company. ........................70 SECTION 13.1113.10. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 . ...........................................71 SECTION 13.1213.11. Trustee and Holders Not Fiduciary Fiduciaries for Holders of Senior and Subordinated Debt.................................. 81 . .................................................72 SECTION 13.1313.12. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 . ............................................72 SECTION 13.1413.13. Article Applicable to Paying Agents........................... 82 . .........................72 SECTION 13.1513.14. Certain Conversions or Exchanges Seemed Payment............... 82 Payee to Presume Outstanding Credit Agreement Indebtedness in Absence of Notice. ........................................72 JUNIOR SUBORDINATED INDENTURE, dated as of November 15_______ __, 19961997, between FIRST BANK SYSTEM, INC.OWENX XXXNING, a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx XxxxxOwenx Xxxning World Headquarters, XxxxxxxxxxxTolexx, Xxxxxxxxx Xxxx 00000, and xxd WILMINGTON TRUST COMPANY, a Delaware banking corporationcorporation duly organized and existing under the laws of the State of Delaware, as Trustee (hereinafter called the "Trustee").

SUBORDINATION OF SECURITIES. 75 93 SECTION 13.1. Securities Subordinate Subordinated to Senior and Subordinated Debt........ 75 ............................................93 SECTION 13.2. Securities Subordinated to Prior Payment Over of Proceeds Upon All Senior Debt on Dissolution, Etc................ 75 Liquidation, Reorganization, etc. of the Company.....................94 SECTION 13.3. Prior Payment Holders of Securities to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.6. Subrogation be Subrogated to Rights Right of Holders of Senior and Subordinated Debt............................................. 78 .......................................................................95 SECTION 13.4. Obligations of the Company Unconditional..........................................95 SECTION 13.5. Company Not to Make Payments With Respect to Securities in Certain Circumstances.............................................................96 SECTION 13.6. Trustee Entitled to Assume Payments Not Prohibited in Absence of Notice............................................................................97 SECTION 13.7. Provisions Solely to Define Relative Rights................... 79 Application by Trustee of Monies Deposited With It................................98 SECTION 13.8. Subordination Rights Not Impaired by Acts or Omissions of Company or Holders of Senior Debt.................................................98 SECTION 13.9. Holders of Securities Authorize Trustee to Effectuate Subordination........................... 79 SECTION 13.9. No Waiver Subordination of Subordination Provisions......................... 80 Securities.......................................................99 SECTION 13.10. Notice Right of Trustee to Hold Senior Debt; Preservation of Trustee............................................. 80 's Rights...........................................................................100 SECTION 13.11. Reliance on Judicial Order or Certificate Article XIII Not to Prevent Events of Liquidating Agent............................................. 81 Default....................................100 SECTION 13.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 .................................100 SECTION 13.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 SECTION 13.14. Article Applicable to Paying Agents........................... 82 SECTION 13.15. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INCTrust Monies Not Subordinated....................................................100 ARTICLE XIV., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee").

SUBORDINATION OF SECURITIES. 75 SECTION 13.115.01. Agreement that Securities Subordinate be Subordinate...................................................70 SECTION 15.02. Subordination to Senior and Subordinated Debt........ 75 Indebtedness.......................................................70 SECTION 13.215.03. Payment Over of Proceeds Upon Dissolution, Etc................ 75 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities.......................... 76 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.6. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 Indebtedness of Certain Amounts Received by Securityholders..............71 SECTION 13.7. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. Trustee to Effectuate Subordination........................... 79 SECTION 13.9. No Waiver of Subordination Provisions......................... 80 SECTION 13.1015.04. Notice to Trustee............................................. 80 SECTION 13.11. Trustee of Specified Events; Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 ........72 SECTION 13.1215.05. Subrogation................................................................................72 SECTION 15.06. Obligation to Pay Not Impaired.............................................................73 SECTION 15.07. Reliance by Senior Indebtedness on Subordination Provisions................................73 SECTION 15.08. Certain Payments and Credits Permitted.....................................................73 SECTION 15.09. Subordination Not to be Prejudiced by Certain Acts.........................................74 SECTION 15.10. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 Authorized to Effectuate Subordination.............................................74 SECTION 13.1315.11. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 Rights Regarding Senior Indebtedness Held by It..................................74 SECTION 13.1415.12. Article Applicable to Trustee and Paying Agents........................... 82 Agents Not Chargeable with Knowledge Until Notice.......................75 SECTION 13.1515.13. Certain Conversions or Exchanges Seemed Payment............... 82 JUNIOR SUBORDINATED Limitation on Securing Securities..........................................................75 SECTION 15.14. Limitation on Premature Deposit of Funds...................................................75 INDENTURE, dated as of November 15, 1996[_______________], between FIRST BANK SYSTEM, INC.Bowater Incorporated, a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000), and WILMINGTON TRUST COMPANYThe Bank of New York, a Delaware New York banking corporation, as Trustee (hereinafter herein called the "Trustee").

SUBORDINATION OF SECURITIES. 75 100 SECTION 13.1. Securities Subordinate to Senior and Subordinated Debt........ 75 Agreement of Subordination...........................................................100 SECTION 13.2. Payment Over of Proceeds Upon Dissolution, Etc................ 75 Payments to Noteholders..............................................................101 SECTION 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration Subrogation of Securities.......................... 76 ............................................................104 SECTION 13.4. No Payment When Senior and Subordinated Debt in Default.................................. 77 Authorization to Effect Subordination................................................105 SECTION 13.5. Payment Permitted If No Default............................... 78 SECTION 13.6. Subrogation to Rights of Holders of Senior and Subordinated Debt............................................. 78 SECTION 13.7. Provisions Solely to Define Relative Rights................... 79 SECTION 13.8. Trustee to Effectuate Subordination........................... 79 SECTION 13.9. No Waiver of Subordination Provisions......................... 80 SECTION 13.10. Notice to Trustee............................................. 80 ....................................................................105 SECTION 13.1113.6. Reliance on Judicial Order or Certificate of Liquidating Agent............................................. 81 SECTION 13.12. Trustee Not Fiduciary for Holders of Senior and Subordinated Debt.................................. 81 SECTION 13.13. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee's Rights.............................. 82 Relation to Senior Indebtedness of the Issuer..............................106 SECTION 13.1413.7. No Impairment of Subordination.......................................................106 SECTION 13.8. Article Applicable to Paying Agents........................... 82 ..................................................107 ARTICLE FOURTEEN - SUBORDINATION OF GUARANTEE...................................................................107 SECTION 13.1514.1. Agreement of Subordination...........................................................107 SECTION 14.2. Payments to Noteholders..............................................................108 SECTION 14.3. Subrogation of Securities............................................................111 SECTION 14.4. Authorization to Effect Subordination................................................112 SECTION 14.5. Notice to Trustee....................................................................112 SECTION 14.6. Trustee's Relation to Senior Indebtedness of the Guarantor...........................113 SECTION 14.7. No Impairment of Subordination.......................................................113 SECTION 14.8. Certain Conversions or Exchanges Seemed Deemed Payment............... 82 JUNIOR SUBORDINATED INDENTURE, dated as of November 15, 1996, between FIRST BANK SYSTEM, INC., a Delaware corporation (hereinafter called the "Company") having its principal office at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (hereinafter called the "Trustee")....................................................114 SECTION 14.9. Article Applicable to Paying Agents..................................................114