Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 81

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 81
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 for U.S. federal income tax purposes as a result of the deposit and related covenant defeasance 
 and will be subject to U.S. federal income tax on the same amounts and in the same manner and at the same times as would have been 
 the case if the deposit and related covenant defeasance had not occurred.                                                          |

Governing Law

The 2021 Base Indenture and
the debt securities will be governed by, and construed in accordance with, the internal laws of the State of New York.

Description of the Form Indenture

General

Unless otherwise specified
in a prospectus supplement, the debt securities will be our direct, unsecured obligations and will rank equally with all of our existing
and future senior unsecured indebtedness senior in right of payment to all of our subordinated indebtedness.

The Form Indenture does
not limit the aggregate principal amount of debt securities that may be issued under it and provides that debt securities may be issued
under it from time to time in one or more series. We may specify a maximum aggregate principal amount for the debt securities of any
series.

Unless otherwise specified
in the applicable prospectus supplement, the Form Indenture does not afford the holders of the debt securities the right to require
us to repurchase or redeem the debt securities in the event of a highly-leveraged transaction.

We are not obligated to issue
all debt securities of one series at the same time and, unless otherwise provided in the applicable prospectus supplement, we may reopen
a series, without the consent of the holders of the outstanding debt securities of that series, for the issuance of additional debt securities
of that series. Additional debt securities of a particular series will have the same terms and conditions as outstanding debt securities
of such series, except for the issue date and, in some cases, the public offering price and the first interest payment date, and will
be consolidated with, and form a single series with, such outstanding debt securities; provided, however, that if such additional debt
securities are not fungible with the outstanding debt securities of such series for U.S. federal income tax purposes, the additional
debt securities will have a separate CUSIP number.

We will set forth in a prospectus
supplement relating to any debt securities being offered, the aggregate principal amount and the following terms of the debt securities,
if applicable:

| · | the title of debt securities; |

| · | the price or prices (expressed                                                        
 as