JPMorgan - KASE

If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in
aggregate principal amount of the then outstanding Notes may declare all the Notes to be due
and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default
arising from certain events of bankruptcy or insolvency with respect to the Issuer, the Company,
any Significant Subsidiary or any group of Restricted Subsidiaries that, taken together (as of the
latest audited consolidated financial statements for the Company and its Subsidiaries), would
constitute a Significant Subsidiary, then all outstanding Notes will become due and payable
without further action or notice. Holders of the Notes may not enforce the Indenture or the
Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in
principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust
or power. The Trustee may withhold from Holders of the Notes notice of any continuing Default
or Event of Default (except a Default or Event of Default relating to the payment of principal or
interest) if it determines that withholding notice is in their interest.
The Holders of a majority in aggregate principal amount of the Notes then outstanding by notice
to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or
Event of Default and its consequences under the Indenture except a continuing Default or Event
of Default in the payment of interest on, or the principal of, premium, if any, on the Notes or
except as would otherwise be prohibited under the Trust Indenture Act if it applied to this
Indenture. The Issuer is required to deliver to the Trustee annually a statement regarding
compliance with the Indenture, and the Issuer is required upon becoming aware of any Default
or Event of Default, promptly (but in any event within five Business Days) to deliver to the
Trustee a statement specifying such Default or Event of Default.
In the event that a declaration of acceleration of the Notes because of an Event of Default
specified in clause (e) of the first paragraph under “Events of Default and Remedies” has
occurred and is continuing, the declaration of acceleration of the Notes shall be automatically
annulled if the holders of any Indebtedness described in clause (e) of the first paragraph under
“Events of Default and Remedies” have rescinded the declaration of acceleration in respect of
such Indebtedness within 30 days after the date of such declaration and if (A) the annulment of
the acceleration of the Notes would not conflict with any judgment or decree of a court of
competent jurisdiction and (B) all existing Events of Default, except for non-payment of principal
of or interest on the Notes that became due solely because of the acceleration of the Notes, have
been cured or waived.
No Personal Liability of Directors, Officers, Employees and Stockholders
No director, officer, employee, incorporator or stockholder of the Company, as such, will have
any liability for any obligations of the Issuer, the Company or the other Guarantors under the
Notes, the Indenture, the Guarantees or for any claim based on, in respect of, or by reason of,
such Obligations or their creation. Each Holder by accepting a note waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Notes. Such
waiver may not be effective to waive liabilities under the United States federal securities laws,
under applicable Canadian corporate and securities laws or under applicable Kazakhstani laws. It
is the view of the Commission that such a waiver is against public policy.
Legal Defeasance and Covenant Defeasance
The Issuer may, at its option and at any time, elect to have all of the obligations of the Issuer and
any Guarantor discharged with respect to the outstanding Notes (“Legal Defeasance”) except for
(i) the rights of Holders of outstanding Notes to receive payments in respect of the principal of,
premium, if any, and interest, if any, on such Notes when such payments are due from the trust
referred to below, (ii) the Issuer’s obligations with respect to the Notes concerning issuing
temporary Notes, registration of Notes, mutilated, destroyed, lost or stolen Notes and the
maintenance of an office or agency for payment and money for security payments held in trust,
(iii) the rights, powers, trusts, duties and immunities of the Trustee, and the Issuer’s obligations in
connection therewith and (iv) the Legal Defeasance provisions of the Indenture. In addition, the
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