[FACE OF SECURITY]
CUSIP:
[Insert if the Security is to be a Global Security—This Note is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of a Depositary or a nominee of a Depositary. This Global Security is exchangeable for Notes registered in the name of a Person other than the Depositary or its nominee only in the limited circumstances described in the Indenture, and no transfer of this Note (other than a transfer of this Note as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary) may be registered except in such limited circumstances.
Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC") to the issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co., or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.]
HEWLETT-PACKARD COMPANY
MEDIUM-TERM NOTE
(Due nine months or more from date of issue)
(Fixed Rate)
| Registered No. R- | Original Issue Date: | |||||||||||||
Principal Amount: $ | Maturity Date: | |||||||||||||
Designation: | Fixed Rate Medium-Term Notes Due | Interest Rate: | ||||||||||||
Interest Rate Reset: | Optional Reset Date: | |||||||||||||
[ ] | Yes | [ ] | No | Basis or Formula for Interest Rate Reset: | ||||||||||
Specified Currency: | Option to Elect Payment in U.S. Dollars (only | |||||||||||||
| [ ] | U.S. Dollars | applicable if Specified Currency is other than | ||||||||||||
| [ ] | Other | U.S. Dollars): | ||||||||||||
Dual Currency Note: | [ ] | Yes | [ ] | No | ||||||||||
[ ] | Yes | [ ] | No | |||||||||||
Issue Price as a percentage of Principal Amount: | Exchange Rate Agent (if other than J.P. Morgan Trust Company, National Association): | |||||||||||||
Interest Payment Dates: | Regular Record Dates: Fifteenth calendar day (whether or not a Business Day) prior to the corresponding Interest Payment Date | |||||||||||||
Original Issue Discount Note: | Total Amount of OID: | |||||||||||||
[ ] | Yes | [ ] | No | |||||||||||
Redemption Date(s) (including any applicable regular or special record dates): | Redemption Price(s): | |||||||||||||
Subject to Tax Redemption by the Company (including payment of Additional Amounts): | Tax Redemption Price(s) (if other than 100% of the Principal Amount: | |||||||||||||
[ ] | Yes | [ ] | No | |||||||||||
Stated Maturity Extension Option: | Extension Period(s) and Final Maturity Date (only applicable if option to extend stated maturity): | |||||||||||||
| [ ] | Yes | [ ] | No | |||||||||||
Repurchase Price(s): | Repurchase Date(s) (including any applicable regular or special record dates): | |||||||||||||
Basis for Interest Rate During Extension Period (only applicable if option to extend stated maturity): | [ ] [ ] | Option of the Company Option of the Holder | ||||||||||||
Currency Indexed Note (check if yes): [ ] (if yes, see attachment) | Amortizing Note (check if yes): [ ] (if yes, see attachment) | |||||||||||||
Form: | Other Terms: | |||||||||||||
[ ] | Book Entry | [ ] | Certificated | |||||||||||
HEWLETT-PACKARD COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (herein called the "Company," which term includes any successor Person under the Indenture referred to below), for value received, hereby promises to pay to [Insert if the Security is to be a Certificated Security— ,] [Insert if the Security is to be a Global Security—Cede & Co., as nominee for The Depository Trust Company], or registered assigns, the Principal Amount stated above on the Maturity Date specified above, and to pay interest on the Interest Payment Dates specified above on said Principal Amount at the Interest Rate specified above from the Interest Payment Date next preceding the date of authentication of this Note to which interest has been paid on the Notes, unless the date of authentication of this Note is a date to which interest has been paid, in which case from the date of authentication of this Note, or unless no interest has been paid on the Notes, in which case from the Original Issue Date specified above, until payment of said Principal Amount has been made or duly provided for. Notwithstanding the foregoing, if the date of authentication of this Note is after a Regular Record Date specified above and before the next following Interest Payment Date, this Note shall bear interest from such Interest Payment Date, unless the Company shall default in the payment of interest due on such Interest Payment Date, in which case this Note shall bear interest from the next preceding Interest Payment Date to which interest has been paid on the Notes, or unless no interest has been paid on the Notes, in which case this Note shall bear interest from the Original Issue Date. If the Interest Payment Date, other than any Interest Payment Date that is also the Maturity Date of this Note, is not a Business Day, the Interest Payment Date will be postponed until the next day that is a Business Day and interest will continue to accrue to such day that is a Business Day.
The interest so payable on any Interest Payment Date will be paid to the Person in whose name this Note is registered at the close of business on the Regular Record Date next preceding such Interest Payment Date, unless the Original Issue Date is after a Regular Record Date and before the next following Interest Payment Date, in which case interest will be paid on the Interest Payment Date following the next succeeding Regular Record Date to the Person in whose name the Note is registered at the close of business on such next succeeding Regular Record Date, unless the Company shall
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default in the payment of interest due on such Interest Payment Date, in which case such defaulted interest shall be paid to the Person in whose name this Note is registered at the close of business on a special record date for the payment of such defaulted interest established in accordance with the Indenture, provided, however, that interest payable at the Maturity Date will be payable to the person to whom principal is payable.
Unless otherwise specified on the face hereof, payments of principal of (and premium, if any) and interest on this Note will be made in the applicable Specified Currency,provided, however, that if this Note is denominated in a Specified Currency other than United States dollars (a "Foreign Currency Note") payments of principal of (and premium, if any) and interest hereon will
[Insert if the Security is to be a Global Security—be made in United States dollars unless the beneficial holder hereof gives notice to the Depositary that it elects to receive payments in such Specified Currency. Such notice must be given by the beneficial holder of this Note to the participant of the Depositary through which its interest is held on or before the applicable Regular Record Date, in the case of a payment of interest, and on or before the sixteenth day, whether or not a Business Day, before the Stated Maturity, in the case of principal or premium, of the beneficial owner's election to receive all or a portion of any payment in a Specified Currency. The participant must notify the Depositary of any election on or before the third business day after the Regular Record Date. The Depositary will notify the Paying Agent of the election, the portion of the payment to be made by the Paying Agent in the Specified Currency and the applicable wire transfer instructions, on or before the fifth Business Day after the Regular Record Date. If complete instructions are received by the participant and forwarded to the Depositary, and forwarded by the Depositary to the Paying Agent, on or before the relevant dates, the beneficial owner of this Note will receive payments in the Specified Currency. In such event, the Paying Agent will pay the beneficial holder directly.]
[Insert if the Security is to be a Certificated Security—be made in the applicable Specified Currency unless the Holder hereof elects to receive all payments in respect hereof in United States dollars by delivery of a written request to the Trustee on or prior to the applicable Regular Record Date or at least 15 days prior to Maturity, as the case may be. Such election may be in writing (mailed or hand delivered) or by cable, telex or other form of facsimile transmission. A Holder of such a Note may elect to receive payment in United States dollars for all principal (and premium, if any) and interest payments and need not file a separate election for each payment. Such election will remain in effect until revoked by written notice to the Trustee, but written notice of such revocation must be received by the Trustee on or prior to the applicable Regular Record Date or at least 15 days prior to Maturity, as the case may be.]
Payment of the principal of (and premium, if any) and interest on this Note due at Maturity in United States dollars will be made in immediately available funds, provided that this Note is presented to the Trustee in time for the Trustee to make such payment in accordance with its normal procedures.
[Insert if the Security is to be a Global Security—Payment of the principal of (and premium, if any) and interest (other than interest payable at Maturity) on this Note in United States dollars will be made by transfer of immediately available funds to the Depositary or its nominee.]
[Insert if the Security is to be a Certificated Security—Payment of the principal of (and premium, if any) and interest on this Note due at Maturity and interest on this Note due other than at Maturity, in United States dollars will be made at the office or agency of the Company maintained for that purpose, which shall initially be the corporate trust office of the Trustee located in the Borough of Manhattan, The City of New York, in immediately available funds. Notwithstanding the foregoing, payment of interest (other than interest due at Maturity) may, at the option of the Company, be made by United States dollar check mailed to the address of the Person entitled thereto as of the applicable Record Date, as such address shall appear in the Security Register.]
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All payments of principal (and premium, if any) and interest in a Specified Currency other than United States dollars will be made in the manner set forth on the reverse hereof.
This Note is one of a duly authorized issue of unsecured debentures, notes or other evidences of indebtedness of the Company (hereinafter called the "Securities"), of the series designated above (herein called the "Notes"), all issued or to be issued under an Indenture dated as of June 1, 2000, for senior debt securities (hereinafter called the "Indenture"), duly executed and delivered by the Company to J.P. Morgan Trust Company, National Association, a national banking association existing under the laws of the United States of America, as trustee (hereinafter called the "Trustee"), to which Indenture reference is hereby made for a description of the respective rights and duties thereunder of the Trustee, the Company and the holders of the Securities. The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest at different rates, may be subject to redemption provisions, repurchase provisions, covenants and Events of Default and on other provisions, and may otherwise vary as provided in the Indenture.
Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes have the same effect as though fully set forth at this place.
This Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture.
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IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.
| HEWLETT-PACKARD COMPANY | ||||||
By: | ||||||
By: | ||||||
TRUSTEE'S CERTIFICATE OF AUTHENTICATION | ||||||
This is one of the Securities of the Series designated herein issued under the within-mentioned Indenture. | ||||||
J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee | ||||||
By | ||||||
Authorized Officer | ||||||
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HEWLETT-PACKARD COMPANY
MEDIUM-TERM NOTE
(Fixed Rate)
Interest payments for this Note will include interest accrued from and including the last date in respect of which interest has been paid or duly provided for (or from and including the Original Issue Date if no interest has been paid or provided for) to but excluding the Interest Payment Dates. Interest payments for this Note shall be computed and paid on the basis of a 360-day year of twelve 30-day months.
Interest Rate Reset
If the Company has the option with respect to this Note to reset the Interest Rate, such option will be indicated on the face hereof, together with (i) the date or dates on which such Interest Rate may be reset (each an "Optional Reset Date") and (ii) the basis or formula, if any, for such resetting. Unless otherwise specified on the face hereof, the Company may exercise such option by notifying the Trustee of such exercise at least 45 but not more than 60 days (unless otherwise specified on the face hereof) prior to an Optional Reset Date. Not later than 40 days (unless otherwise specified on the face hereof) prior to such Optional Reset Date, the Trustee will mail to the Holder hereof a notice (the "Reset Notice"), first class, postage prepaid, setting forth (i) the election of the Company to reset the Interest Rate, (ii) such new interest rate, and (iii) the provisions, if any, for redemption during the period from such Optional Reset Date to the next Optional Reset Date or, if there is no such next Optional Reset Date, to the Stated Maturity of this Note (each such period a "Subsequent Interest Period"), including the date or dates on which or the period or periods during which and the price or prices at which such redemption may occur during such Subsequent Interest Period.
Notwithstanding the foregoing, not later than 20 days (unless otherwise specified on the face hereof) prior to an Optional Reset Date, the Company may, at its option, revoke the interest rate provided for in the Reset Notice and establish a higher interest rate for the Subsequent Interest Period commencing on such Optional Reset Date by mailing or causing the Trustee to mail notice of such higher interest rate first class, postage prepaid, to the Holder hereof. Such notice shall be irrevocable. If the Interest Rate is reset on an Optional Reset Date this Note will bear such higher interest rate.
If the Company elects to reset the Interest Rate of this Note, the Holder hereof will have the option to elect repayment of this Note by the Company on any Optional Reset Date at a price equal to the principal amount hereof plus any accrued interest to such Optional Reset Date. In order for this Note to be so repaid on an Optional Reset Date, the Holder hereof must follow the procedures set forth below for optional repurchase, except that the period for delivery of this Note or notification to the Trustee shall be at least 25 but not more than 35 days (unless otherwise specified on the face hereof) prior to such Optional Reset Date and except that a Holder who has tendered this Note for repayment pursuant to a Reset Notice may, by written notice to the Trustee, revoke any such tender for repayment until the close of business on the tenth day prior to such Optional Reset Date.
Dual Currency Notes
This Note may be issued as a Note in which the Company has a one-time option to pay the principal, premium, if any, and interest, if any, on this Note in an optional currency specified on the face hereof under "Other Terms") that is a different currency from the Specified Currency of this Note ("Dual Currency Notes"). Specific information pertaining to Dual Currency Notes shall be included
6
above under "Other Terms," and shall include, without limitation, Specified Currency for the dual currency note:
The amounts payable and the method for calculating these amounts with respect to Dual Currency Notes and any additional terms and conditions of any issue of dual currency notes will be specified on the face hereof.
Extension of Stated Maturity
If the Company has the option to extend the Stated Maturity of this Note for one or more periods (each an "Extension Period") up to but not beyond the date (the "Final Maturity Date") set forth on the face hereof, such option will be indicated on the face hereof together with the basis or formula, if any, for setting the interest rate applicable to any such Extension Period. The Company may exercise such option with respect to this Note by notifying the Trustee of such exercise at least 45 but not more than 60 days (unless otherwise specified on the face hereof) prior to the Stated Maturity in effect prior to the exercise of such option (the "Original Stated Maturity"). No later than 40 days (unless otherwise specified on the face hereof) prior to the Original Stated Maturity, the Trustee will mail to the Holder hereof a notice (the "Extension Notice") relating to such Extension Period, first class, postage prepaid, setting forth (i) the election of the Company to extend the Stated Maturity hereof, (ii) the new Stated Maturity, (iii) the interest rate applicable to the Extension Period, and (iv) the provisions, if any, for redemption during the Extension Period, including the date or dates on which or the period or periods during which and the price or prices at which such redemption may occur during the Extension Period. Upon the mailing by the Trustee of an Extension Notice to the Holder of this Note, the Stated Maturity of this Note shall be extended automatically as set forth in the Extension Notice, and, except as modified by the Extension Notice and as described in the next paragraph, this Note will have the same terms as prior to the mailing of such Extension Notice.
Notwithstanding the foregoing, not later than 20 days (unless otherwise specified on the face hereof) prior to the Original Stated Maturity for this Note, the Company may, at its option, revoke the interest rate provided for in the Extension Notice and establish a higher interest rate for the Extension Period by mailing or causing the Trustee to mail notice of such higher interest rate first class, postage prepaid, to the Holder hereof. Such notice shall be irrevocable. All Notes with respect to which the Stated Maturity is extended will bear such higher interest rate for the Extension Period.
If the Company elects to extend the Stated Maturity of this Note, the Holder hereof will have the option to elect repayment of this Note by the Company at the Original Stated Maturity at a price equal to the principal amount hereof plus any accrued interest to such date. In order for this Note to be so repaid on the Original Stated Maturity, the Holder hereof must follow the procedures set forth below for optional repurchase, except that the period for delivery of this Note or notification to the Trustee shall be at least 25 but not more than 35 days (unless otherwise specified on the face hereof) prior to the Original Stated Maturity and except that a Holder who has tendered this Note for repurchase pursuant to an Extension Notice may, by written notice to the Trustee, revoke any such tender for repayment until the close of business on the tenth day prior to the Original Stated Maturity.
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Redemption and Repurchase by the Company
Unless one or more Redemption Date or Repurchase Date is specified on the face hereof, this Note shall not be redeemable or subject to repurchase at the option of the Company before the Maturity Date specified on the face hereof. If one or more Redemption Dates or one or more Repurchase Dates is so specified, this Note is subject to redemption or repurchase, as the case may be, on any such date at the option of the Company, upon notice by first-class mail, mailed not less than 30 days nor more than 60 days (unless otherwise specified on the face hereof) prior to the applicable Redemption Date or Repurchase Date, as the case may be, specified in such notice, at the applicable Redemption Price or Repurchase Price, as the case may be, specified on the face hereof (expressed as a percentage of the principal amount of this Note), together in the case of any such redemption with accrued interest to the Redemption Date or Repurchase Date, as the case may be. Unless otherwise specified on the face hereof, the Company may elect to redeem less than the entire principal amount hereof.
Repurchase at the Option of the Holder
Unless one or more Repurchase Dates at the option of the Holder is specified on the face hereof, this Note shall not be repayable at the option of the Holder on any date prior to the Maturity Date specified on the face hereof. If one or more Repurchase Dates is so specified, this Note is subject to repurchase on any such date at the option of the Holder at the applicable Repurchase Price specified on the face hereof (expressed as a percentage of the principal amount of this Note), together in the case of any such repayment with accrued interest to the Repurchase Date, but interest installments whose Stated Maturity is prior to the Repurchase Date will be payable to the Holder of this Note, or one or more Predecessor Notes, of record at the close of business on the relevant Regular Record Dates referred to on the face hereof. For this Note to be repaid at the option of the Holder, the Trustee must receive at the principal office of its Corporate Trust Department in The City of New York, at least 30 days but not more than 45 days (unless otherwise specified on the face hereof) prior to the Repurchase Date on which this Note is to be repaid:
(i) appropriate wire instructions; and
(ii) either (a) the Note with the form entitled "Option to Elect Repurchase" on the reverse of the Note duly completed, or (b) a telegram, telex, facsimile transmission or letter from a member of a national securities exchange or the National Association of Securities Dealers, Inc., or a commercial bank or trust company in the United States setting forth:
Exercise of the repurchase option by the Holder of a Note shall be irrevocable. The Holder of a Note may exercise the repurchase option for less than the entire principal amount of the Note provided that the principal amount of the Note remaining outstanding after repurchase is an Authorized Denomination. No transfer or exchange of any Note will be permitted after exercise of a repurchase
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option. If a Note is to be repurchased in part, no transfer or exchange of the portion of the Note to be repurchased will be permitted after exercise of a repurchase option. All questions as to the validity, eligibility, including time of receipt, and acceptance of any note for repurchase will be determined by the Company and its determination will be final, binding and non-appealable.
Tax Redemption
If specified on the face hereof, the Company may redeem the Notes, subject to the provisions herein, as a whole but not in part, at the Company's option, upon not more than 60 days, nor less than 30 days (unless otherwise specified on the face hereof), prior notice to the Holders of the Notes, at a Tax Redemption Price equal to 100% of the Principal Amount of the Notes (unless otherwise specified on the face hereof), or, if applicable, a lesser amount in the case of Original Issue Discount Notes, and premium, if any, together with accrued interest, if any, to Tax Redemption Date, if on the next succeeding interest payment date, the Company will be obligated to:
If specified on the face hereof, the Company will, subject to certain exceptions and limitations set forth below, pay to the Holder of such Note who is a United States Alien (as defined below), as additional interest, such additional amounts ("Additional Amounts") as may be necessary in order that every net payment on such Note (including payment of the principal of and interest on such Note) by the Company or any specified Paying Agent, after deduction or withholding for or on account of any present or future tax, assessment or other governmental charge imposed upon or as a result of such payment by the United States (or any political subdivision or taxing authority thereof or therein), will not be less than the amount provided in such Note to be then due and payable.
However, the Company's obligation to pay Additional Amounts with respect to the Notes will not apply to:
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In addition, the Company shall not be required to pay Additional Amounts on such Note to a Holder that is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner would not have been entitled to Additional Amounts (or payment of Additional Amounts would not have been necessary) had such beneficiary, settlor, member or beneficial owner been the Holder of such Note.
For the purposes above, a "United States Alien" means any person who, for United States Federal income tax purposes, is a foreign corporation, a non-resident alien individual, a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which is, for United States Federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien fiduciary, of a foreign estate or trust. "United States" means the United States of America (including the States and the District of Columbia) and its territories, its possessions and other areas subject to its jurisdiction.
[Insert if the Security is to be a Certificated Security—In the event of redemption or repayment of this Note in part only, a new Note or Notes of this series and of like tenor and for a principal amount equal to the unredeemed or unrepaid portion will be delivered to the registered Holder upon the cancellation hereof.]
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[Insert if the Security is to be a Global Security—In the event of redemption or repayment of this Note in part only, the principal amount shall be reduced.]
General Information Regarding the Notes
Other Definitions
"Business Day" means (a) with respect to any Note, any day that is not a Saturday or Sunday and that, in The City of New York, is not a day on which banking institutions generally are authorized or obligated by law to close, (b) if the Note is denominated in a Specified Currency other than United States dollars or euros, not a day on which banking institutions are authorized or required by law to close in the financial center of the country issuing the Specified Currency, and (c) if the Note is denominated in euros, any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System is open. As used in the preceding sentence, "financial center" means the capital city of the country issuing the Specified Currency, except that with respect to United States dollars, Australian dollars, Canadian dollars, South African rand and Swiss francs, the "financial center" shall be The City of New York, Sydney, Toronto, Johannesburg and Zurich, respectively.
Calculation of Exchange Rates
If this is a Foreign Currency Note to be paid in United States dollars, the United States dollar amount to be received in respect hereof will be based upon the exchange rate as determined by the Exchange Rate Agent based on the most favorable firm bid quotation for United States dollars received by such Exchange Rate Agent at approximately 11:00 a.m., New York City time, on the second Business Day preceding the applicable payment date from three recognized foreign exchange dealers in The City of New York selected by the Exchange Rate Agent and approved by the Company (one of which may be the Exchange Rate Agent) for the purchase by the quoting dealer, for settlement on such payment date, of the aggregate amount of the Specified Currency payable on such payment date in respect of this Note. If three quoting dealers are not available then two dealers will be used. If no such bid quotations are available, payments will be made in the Specified Currency, unless such Specified Currency is unavailable due to the imposition of exchange controls or to other circumstances beyond the Company's control, in which case the Company will be entitled to make payments in respect hereof in United States dollars as provided in the manner set forth below. All currency exchange costs will be borne by the Holder hereof by deductions from such payments. The determination of the exchange rate pursuant to the provisions of this Section is referred to herein as the "Market Exchange Rate."
Payments in Specified Currencies
If a Holder is to receive payments in a Specified Currency other than United States dollars as described on the face hereof, payments of principal of (and premium, if any) and interest will be paid in immediately available funds by wire transfer to an account maintained by the Holder with a bank designated by the Holder (which in the case of Global Securities will be the Depositary or its nominee) on or prior to the Regular Record Date or at least 15 days prior to Maturity, as the case may be, in the case of Certificated Securities or, in the case of Global Securities, in the manner specified on the face hereof in the third paragraph thereof following the summary of terms, provided that such bank has the appropriate facilities for such a payment in the Specified Currency,provided,however, that with respect to payments of principal and premium, if any, and interest at Maturity this Note is presented to the Trustee in time for the Trustee to make such payment in accordance with its normal procedures, which shall require presentation no later than two Business Days prior to Maturity in order to ensure the availability of immediately available funds in the Specified Currency at Maturity.
If payment on this Note is required to be made in a Specified Currency other than United States dollars and such currency is unavailable in the good faith judgment of the Company due to the
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imposition of exchange controls or to other circumstances beyond the Company's control, or is no longer used by the government of the country issuing such currency or for the settlement of transactions by public institutions of or within the international banking community, then all payments with respect to this Note shall be made in United States dollars until such currency is again available or so used. The amount so payable on any date in such Specified Currency shall be converted into United States dollars at a rate determined by the Exchange Rate Agent on the basis of the Market Exchange Rate on the second Business Day prior to such payment, or, if the Market Exchange Rate is not then available, the most recently available Market Exchange Rate or as otherwise determined in good faith by the Company if the foregoing is impracticable.
If this is a Foreign Currency Note, in the event of an official redenomination of such foreign currency (including, without limitation, an official redenomination of a foreign currency that is a composite currency) the obligations of the Company with respect to payments on this Note denominated in such currency shall, in all cases, be deemed immediately following such redenomination to provide for the payment of that amount of redenominated currency representing the amount of such obligations immediately before such redenomination. No adjustment will be made to any amount payable under this Note as a result of (a) any change in the value of a foreign currency relative to any other currency due solely to fluctuations in exchange rates or (b) any redenomination of any component currency of any composite currency (unless such composite currency is itself officially redenominated).
Acceleration upon an Event of Default
If an Event of Default with respect to Notes of this series shall occur and be continuing, the Principal Amount of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Unless otherwise specified on the face hereof, if any Original Issue Discount Note (as defined below) is redeemed or repurchased by the Company or repurchased at the option of the Holder, each as described above, or if the principal of any Original Issue Discount Note is declared to be due and payable immediately pursuant to this paragraph, the amount of principal due and payable with respect to this Note shall be limited to the sum of the aggregate principal amount of this Note multiplied by the Issue Price (expressed as a percentage of the aggregate principal amount) plus the original issue discount accrued from the date of issue to the date of redemption, repayment or declaration, as applicable, which accrual shall be calculated using the "interest method" (computed in accordance with generally accepted accounting principles) in effect on the date of redemption, repurchase or declaration. Unless otherwise specified on the face hereof, an Original Issue Discount Note is a Note which has a stated redemption price at maturity that exceeds its Issue Price by at least 0.25% of the stated redemption price at maturity, multiplied by the number of full years from the Original Issue Date to the Maturity Date for this Note.
Modification of Rights under the Indenture
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 of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority in principal amount of the Notes at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. In addition, the Indenture permits the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the notes of each series to be
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affected under the Indenture by the Company and the Trustee, without the consent of the Holders of the Notes of each series to be affected, under certain limited circumstances set forth in the Indenture.
No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note at the times, places and rate, and in the coin or currency, herein prescribed. However, the Indenture limits the Holder's right to enforce the Indenture and this Note.
Transfers of Notes
As provided in the Indenture and subject to certain limitations set forth therein and as may be set forth on the face hereof, the transfer of this Note is registrable in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of (and premium, if any) and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series of like tenor, of Authorized Denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
[Insert if the Security is a Global Security—
Global Notes
This Note is a Global Note and shall be exchangeable for Notes registered in the names of Persons other than the Depositary with respect to this Global Note or its nominee only if (A) such Depositary notifies the Company that it is unwilling or unable to continue as Depositary for this Global Note or at any time ceases to be a clearing agency registered as such under the Securities Exchange Act of 1934, as amended, (B) the Company in its sole discretion executes and delivers to the Trustee a Company Order that this Global Note shall be exchangeable or (C) there shall have occurred and be continuing an Event of Default with respect to the Notes. If this Global Note is exchangeable pursuant to the preceding sentence, it shall be exchangeable for Notes issuable in denominations of $1,000 and any integral multiple of $1,000 in excess thereof, registered in such names as such Depositary shall direct.]
Denomination
The Notes of this series are issuable, in the case of Notes denominated in United States dollars, in denominations of U.S. $1,000 and any integral multiple of U.S. $1,000 in excess thereof and, in the case of Notes denominated in a Specified Currency other than United States dollars, in the authorized denominations set forth on the face hereof (in each case, an "Authorized Denomination").
Exchange of Notes
As provided in the Indenture and subject to certain limitations set forth therein and as may be set forth on the face hereof, Notes of this series are exchangeable for a like aggregate principal amount of Notes of this series of like tenor of a different Authorized Denomination, as requested by the Holder surrendering the same.
No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
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Registered Owner
Prior to due presentment of this Note for registration of transfer, 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.
Governing Law
The Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflicts of laws.
Defined Terms; Section Headings
All terms used in this Note that are defined in the Indenture, shall have the meanings assigned to them in the Indenture. The Section headings herein are for convenience only and shall not affect the construction or interpretation of this Note.
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The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations.
| TEN COM—as tenants in common | ||||||||
TEN ENT—as tenants by the entireties | ||||||||
JT TEN—as joint tenants with right of survivorship and not as tenants in common | ||||||||
UNIF GIFT MIN ACT— | (Cust) | Custodian | (Minor) | |||||
Under Uniform Gifts to Minors Act | ||||||||
(State) | ||||||||
Additional abbreviations may also be used though not in the above list. | ||||||||
FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
| / | / | |||||||
PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE | ||||||||
the within Note and all rights thereunder, hereby irrevocably constituting and appointing attorney to transfer said Note on the books of the Company, with full power of substitution in the premises. | ||||||||
Dated: | NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular, without alteration or enlargement or any change whatever. |
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