REGISTERED SEARS ROEBUCK ACCEPTANCE CORP.
REGISTERED
No. FXR- MEDIUM-TERM NOTE SERIES III
CUSIP
(FIXED RATE)
Except as otherwise provided in Section 2.10 of the Indenture,
this Note may be transferred, in whole but not in part, only to
another nominee of the Depository or to a successor Depository
or to a nominee of such successor Depository.
Unless this Note is presented by an authorized representative of
The Depository Trust Company (55 Water Street, New York, New
York) to the Company or its agent for registration of transfer,
exchange or payment, and any Note issued upon registration of
transfer of, or in exchange for, or in lieu of, this Note is
registered in the name of Cede & Co. or such other name as
requested by an authorized representative of The Depository
Trust Company and any payment hereon is made to Cede & Co., ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OF OTHERWISE BY
OR TO ANY PERSON IS WRONGFUL since the registered owner hereof,
Cede & Co., has an interest herein.
ORIGINAL ISSUE DATE:
REDEMPTION COMMENCEMENT DATE:
INTEREST RATE:
REDEMPTION PRICE: IF A REDEMPTION COMMENCEMENT DATE IS SPECIFIED
ABOVE, THE
REDEMPTION PRICE SHALL BE % OF THE PRINCIPAL
AMOUNT OF THIS NOTE TO BE REDEEMED AND THE REDEMPTION
PRICE SHALL DECLINE AT EACH ANNIVERSARY OF THE
REDEMPTION COMMENCEMENT DATE BY % OF THE PRINCIPAL
AMOUNT OF THIS NOTE TO BE REDEEMED UNTIL THE REDEMPTION
PRICE IS 100% OF SUCH PRINCIPAL AMOUNT.
MATURITY DATE:
INTEREST PAYMENT DATES:
OTHER PROVISIONS:
Sears Roebuck Acceptance Corp., a corporation duly organized
and existing under the laws of the State of Delaware (herein
referred to as the "Company", which term includes any successor
corporation under the Indenture hereinafter referred to), for
value received, hereby promises to pay to
or registered assigns, upon presentation and surrender of this
Note, on the Maturity Date shown above (except to the extent
redeemed prior to the Maturity Date) at the office or agency of
the Company in the Borough of Manhattan of The City of New York,
or, at the option of the Holder, such office or agency, if any,
maintained by the Company in the city in which the principal
executive offices of the Company are located or the city in
which the principal corporate trust office of the Trustee is
located, the principal sum of
_______________________________ ______________________________
Principal Amount Specified Currency
and to pay interest thereon at the rate per annum shown above.
This Note will bear interest from the Original Issue Date
specified above or from the most recent Interest Payment Date to
which interest on this Note has been paid or duly provided for.
Unless otherwise specified above, interest will be computed on
the basis of a 360-day year of twelve 30-day months.
Interest on this Note shall be payable on the Interest Payment
Dates and on the Maturity Date indicated above (or the date of
redemption), except that if this Note was originally issued
between a Regular Record Date and an Interest Payment Date, the
first payment of interest will be made on the Interest Payment
Date following the next succeeding Regular Record Date to the
registered Holder on such next succeeding Regular Record Date.
If any Interest Payment Date falls on a day that is not a
Business Day, the interest payment shall be postponed to the
next succeeding Business Day, and no interest on such payment
shall accrue for the period from and after the Interest Payment
Date. If the Maturity Date of this Note falls on a day that is
not a Business Day, the payment of interest and principal may be
made on the next succeeding Business Day with the same force and
effect as if made at maturity, and no interest on such payment
shall accrue for the period from and after the Maturity Date.
The Regular Record Date shall be the May 1 and November 1 next
preceding any May 15 or November 15 Interest Payment Date and
the date 15 calendar days prior to any other Interest Payment
Date, whether or not such date shall be a Business Day.
"Business Day" as used herein means each Monday, Tuesday,
Wednesday, Thursday, and Friday which is not a legal holiday for
banking institutions in any of the City of Wilmington, Delaware,
the City of Chicago, The City of New York or the city in which
the principal corporate trust office of the Trustee is located
and, if this Note is denominated in a currency other than
Dollars, in
________________________________________________________________
_____________.
Principal Financial Center of Country Issuing Currency
Payments of interest with respect to any Interest Payment Date
or Maturity Date (or date of redemption) will include interest
accrued to, but excluding, such Interest Payment Date or
Maturity Date (or date of redemption).
The principal of (and premium, if any), and interest on, this
Note is payable by the Company in the Specified Currency.
Interest payable on any Interest Payment Date (other than
Defaulted Interest) shall be payable to the person who is the
registered Holder at the close of business on the immediately
preceding Regular Record Date. Interest payable upon redemption
or at maturity (other than a redemption or maturity occurring on
an Interest Payment Date) will be paid to the same person to
whom the principal amount of this Note is payable.
Payment of principal of (and premium, if any), and interest on,
this Note on any day (if the Holder of this Note is a Depository
as defined in the Indenture referred to on the reverse hereof or
a nominee of such a Depository) will be made in accordance with
any applicable provisions of such written agreement between the
Company, the Trustee and such Depository (or its nominee) as may
be in effect from time to time or (if the Holder of this Note
holds an aggregate principal amount of $10,000,000 or more of
Notes with respect to which such payment of principal (and
premium, if any) or interest, as applicable, is to be made on
such day) will be made by wire transfer if the Holder shall have
designated in writing to the Trustee an account with a bank
located in the country issuing the Specified Currency or such
other country as shall be satisfactory to the Company and the
Trustee. If payment of interest is to be made by wire transfer,
such information must be received by the Trustee at its
corporate trust office in the Borough of Manhattan of The City
of New York on or prior to the Regular Record Date for an
Interest Payment Date. The Trustee will, subject to applicable
laws and regulations and until it receives notice to the
contrary, make such payment to such Holder by wire transfer to
the designated account. If a payment of interest is not made in
accordance with such a written agreement or by wire transfer,
payment will be made by check. Checks for payment of interest
on an Interest Payment Date will be mailed to the Holder at the
address of such Holder appearing on the Security Register on the
applicable Regular Record Date.
To receive payment of a U.S. dollar denominated Note upon
redemption or at maturity, a Holder must make presentation and
surrender of such Note on or before the Redemption Date or
Maturity Date, as applicable. Payment (other than payment in
accordance with a written agreement between the Company, the
Trustee and a Depository (or its nominee) as set forth above)
will be made by check unless proper wire instructions are on
file with the Trustee or are received at presentment. To
receive payment of a Note denominated in a Foreign Currency upon
redemption or at maturity, a Holder must make presentation and
surrender not less than two Business Days prior to the
Redemption Date or Maturity Date, as applicable. Upon
presentation and surrender of a Note denominated in a Foreign
Currency at any time after the date two Business Days prior to
the Redemption Date or Maturity Date, as applicable, the Company
will pay the principal amount (and premium, if any) of such
Note, and any interest due upon redemption or at maturity
(unless the Redemption Date or Maturity Date is an Interest
Payment Date), two Business Days after such presentation and
surrender.
The Company will pay any administrative costs imposed by banks
in connection with sending payments by wire transfer, but any
tax, assessment or governmental charge imposed upon payments
will be borne by the Holders of the Notes in respect of which
payments are made.
Reference is hereby made to the further provisions of this Note
set forth on the reverse hereof, and such further provisions
shall for all purposes have the same effect as though fully set
forth at this place.
This Note shall not be entitled to any benefit under the
Indenture referred to on the reverse hereof, or become valid or
obligatory for any purpose, until the certificate of
authentication hereon shall have been signed by or on behalf of
the Trustee under such Indenture.
IN WITNESS WHEREOF, the Company has caused this Instrument to
be duly executed under its corporate seal.
Dated: SEARS ROEBUCK ACCEPTANCE CORP.
CERTIFICATE OF AUTHENTICATION By
This is one of the Notes designated
and referred to in the
within-mentioned Indenture.
THE CHASE MANHATTAN BANK, President
as Trustee
By By
Authorized Signatory
Vice President, Finance and
Assistant Secretary
SEARS ROEBUCK ACCEPTANCE CORP.
Medium-Term Note Series III
This Note is one of a duly authorized issue of debentures,
notes, bonds or other evidences of indebtedness of the Company
(hereinafter called the "Securities") of the series hereinafter
specified, unlimited in aggregate principal amount, all issued
or to be issued under or pursuant to an indenture dated as of
May 15, 1995, executed between the Company and THE CHASE
MANHATTAN BANK, N.A., as Trustee; to which indenture and all
indentures supplemental thereto (herein collectively called the
"Indenture") reference is hereby made for a specification of
the rights and limitation of rights thereunder of the Holders of
the Securities, the rights and obligations thereunder of the
Company and the rights, duties and immunities thereunder of the
Trustee. 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 (if any) at different rates, may be subject to
different redemption provisions (if any), may be subject to
different covenants and defaults and may otherwise vary as in
the Indenture provided. This Note is one of a series designated
as the "Medium-Term Notes Series III" (hereinafter referred to
as the "Notes") of the Company, unlimited in aggregate
principal amount. All terms used in this Note which are defined
in the Indenture and which are not otherwise defined in this
Note shall have the meanings assigned to them in the Indenture.
For purposes of the Notes, the term "Fixed Charge Coverage and
Ownership Agreement shall mean the Fixed Charge Coverage and
Ownership Agreement as extended by the Extension Agreement
relating to debt securities of which the Notes are a part.
The Notes are issuable only in registered form without coupons
and will be either (a) Book-Entry Notes represented by one or
more global notes (each a "Global Note") recorded in the
book-entry system maintained by the Depository or (b)
certificated notes issued to, and registered in the names of,
the beneficial owners or their nominees ("Certificated Notes").
Notes are issuable in minimum denominations of (i) in the case
of Notes denominated in Dollars, U.S. $1,000 and in any larger
amount in integral multiples of $1,000 and (ii) in the case of
Notes denominated in any Foreign Currency, the equivalent in
such Foreign Currency determined in accordance with the Market
Exchange Rate for such Foreign Currency on the Business Day
immediately preceding the date on which the Company accepts an
offer to purchase a Note, of U.S. $1,000 (rounded to an integral
multiple of 1,000 units of the Foreign Currency), and in any
larger amount. In the manner and subject to the limitations
provided in the Indenture, the Global Notes or Certificated
Notes are exchangeable, without charge except for any tax or
other governmental charge imposed in relation thereto, for other
Notes of authorized denominations for a like aggregate principal
amount, at the office or agency of the Company in the Borough of
Manhattan of The City of New York, or, at the option of the
Holders thereof, such office or agency, if any, maintained by
the Company in the city in which the principal executive offices
of the Company are located or the city in which the principal
corporate trust office of the Trustee is located.
Unless this Note is denominated in Dollars, in the event that
the currency in which this Note is denominated is not available
for payment at a time at which any payment is required hereunder
due to the imposition of exchange controls or other
circumstances beyond its control, the Company may, in full
satisfaction of its obligation to make such payment, make
instead a payment in an equivalent amount of Dollars, determined
in accordance with the Market Exchange Rate for such currency on
the latest date for which such rate was established on or before
the date on which payment is due, and such substituted payment
of Dollars shall not constitute a default under this Note or the
Indenture.
If a Redemption Commencement Date is specified above, this Note
may be redeemed, whether or not any other Note is concurrently
redeemed, at the option of the Company, as a whole, or from time
to time in part, on any Business Day on or after the Redemption
Commencement Date and prior to the Maturity Date, upon mailing
by first-class mail, postage prepaid, a notice of such
redemption not less than 30 nor more than 60 days prior to the
Redemption Date, to the Holder of this Note at his address
appearing in the Security Register, as provided in the Indenture
(provided that, if the Holder of this Note is a Depository or a
nominee of a Depository, notice of such redemption shall be
given in accordance with any applicable provisions of such
written agreement between the Company, the Trustee and such
Depository (or its nominee) as may be in effect from time to
time), at the Redemption Price specified on the face of this
Note (expressed in percentages of the principal amount hereof to
be redeemed) together in each case with interest accrued to the
Redemption Date (subject to the right of the Holder of record on
a Regular Record Date to receive interest due on an Interest
Payment Date). In the event of redemption of this Note in part
only, a new Note or Notes of this series, and of like tenor, for
the unredeemed portion hereof will be issued in the name of the
Holder hereof upon the cancellation hereof.
In case a default, as defined in the Indenture, shall occur and
be continuing with respect to the Notes, the principal amount of
all Notes then outstanding under the Indenture may be declared
or may become due and payable upon the conditions and in the
manner and with the effect provided in the Indenture. The
Indenture provides that such declaration may in certain events
be annulled by the Holders of a majority in principal amount of
the Notes outstanding.
To the extent permitted by, and as provided in, the Indenture,
modifications or alterations of the Indenture, or of any
indenture supplemental thereto, and of the rights and
obligations of the Company and the Holders of the Notes, may be
made with the consent of the Company by the affirmative vote or
consent of the Holders of not less than a majority in principal
amount of the Securities then outstanding (as defined in the
Indenture) of each series to be affected, evidenced as in the
Indenture provided; provided, however, that no such modification
or alteration shall (i) change the stated maturity of the
principal of (and premium, if any), or interest on, any
Security, or reduce the principal amount of (and premium, if
any), or the rate of interest on, any Security, or change the
Currency in which the principal of (and premium, if any), or
interest on, such Security is denominated or payable, or reduce
the amount of the principal of an Original Issue Discount
Security that would be payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 6.1 of
the Indenture without the consent of the Holder of each
outstanding Security so affected, or (ii) reduce the percentage
of Securities, the vote or consent of the Holders of which is
required for such modifications and alterations, without the
consent of the Holders of all Securities affected. The
Indenture also provides that the Holders of a majority in
principal amount of the Securities of any series then
outstanding may waive any past default with respect to
Securities of such series under the Indenture and its
consequences, except a default in the payment of the principal
of (or premium, if any), or interest on, any of the Securities.
This Note is transferable by the registered Holder hereof or by
his attorney duly authorized in writing at the office or agency
of the Company in the Borough of Manhattan of The City of New
York or, at the option of the Holder hereof, such office or
agency, if any, maintained by the Company in the city in which
the principal executive offices of the Company are located or
the city in which the principal corporate trust office of the
Trustee is located, without charge except for any tax,
assessment or other governmental charge imposed in relation
thereto, but only in the manner and subject to the limitations
provided in the Indenture and upon surrender of this Note. Upon
any such transfer a Note or Notes of authorized denominations
for a like aggregate principal amount and bearing a number not
contemporaneously outstanding will be issued in exchange herefor.
The Company, the Trustee, any Authenticating Agent, any paying
agent and any Security registrar may deem and treat the
registered Holder hereof as the absolute owner hereof (whether
or not this Note shall be overdue and notwithstanding any
notation of ownership or other writing hereon by anyone other
than the Company or any Security registrar) for the purpose of
receiving payment of or on account of the principal hereof (and
premium, if any), and interest hereon, and for all other
purposes, and neither the Company, the Trustee, an
Authenticating Agent, a paying agent nor the Security registrar
shall be affected by any notice to the contrary. All such
payments shall be valid and effectual to satisfy and discharge
the liability upon this Note to the extent of the sum or sums so
paid.
No recourse shall be had for the payment of the principal of
(or premium, if any), or interest on, this Note or for any claim
based hereon or otherwise in any manner in respect hereof, or in
respect of the Indenture, against any incorporator, shareholder,
officer or director, past, present or future, of the Company or
of any predecessor or successor corporation, whether by virtue
of any constitutional provision or statute or rule of law, or by
the enforcement of any assessment or penalty or in any other
manner, all such liability being expressly waived and released
by the acceptance hereof and as part of the consideration for
the issue hereof. In the event of any sale or transfer of its
assets and liabilities substantially as an entirety to a
successor corporation, the predecessor corporation may be
dissolved and liquidated as more fully set forth in the
Indenture.
All Dollar amounts used in or resulting from calculations
referred to in this Note shall be rounded to the nearest cent
(with one half cent being rounded upwards).
This Note shall be governed by, and construed in accordance
with, the internal laws of the State of Delaware.
ASSIGNMENT FORM
To assign this Note, fill in the form below:
I or we assign and transfer this Note to:
(Insert assignee's soc. sec. or tax I.D.
no.)
_________________________________________________________________
_________________
(Print or type assignee's name, address and zip code)
_________________________________________________________________
_________________
_________________________________________________________________
_________________
_________________________________________________________________
_________________
and irrevocably appoint
_____________________________________________________agent
to transfer this Note on the books of the Company. The agent
may substitute
another to act for him.
Date ___________________________ Your signature
___________________________________
_________________________________________________________________
___________________
(Sign exactly as your name appears on the other side of this
Note.)
The signature to this assignment must be guaranteed by a
commercial bank or trust company having its principal office or
a correspondent in The City of New York or by a member of The
New York Stock Exchange.