Company: WELPM
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001104659-25-091569
Chunk: 42

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-19
Form: 424B2
Chunk 42
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 our compliance with all conditions and covenants under the indenture. (Section 4.04)

The failure to redeem any debt securities subject
to a conditional redemption is not an event of default if any event on which the redemption is conditioned does not occur and is not waived
before the redemption date. (Section 6.01) Debt securities are subject to a conditional redemption if the notice of redemption relating
to the debt securities provides that it is subject to the occurrence of any event before the date fixed for the redemption in the notice.
(Section 3.04)

The indenture does not have a cross-default provision.
Thus, a default by us on any other debt, including a default on another series of debt securities issued under the indenture, would not
automatically constitute an event of default under the indenture. A securities resolution may provide for a cross-default provision. In
that case, the prospectus supplement will describe the terms of that provision.

Amendments and Waivers

As described below, the indenture and the debt
securities, or any coupons, of any series may be amended, and any default may be waived. Unless the securities resolution provides otherwise,
in which event the prospectus supplement will describe the revised provision, we and the trustee may amend the debt securities, the indenture
and any coupons with the written consent of the holders of a majority in principal amount of the debt securities of all series affected
voting as one class. (Section 9.02) Except as described in the next paragraph, a default on a series may be waived with the consent
of the holders of a majority in principal amount of the debt securities of the series. (Section 6.04)

However, without the consent of each debt security
holder affected, no amendment or waiver may:

| ● | reduce the principal amount of debt securities whose holders must consent to an amendment or waiver; |

| ● | reduce the interest on or change the time for payment of interest on any debt security; |

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| ● | change the fixed maturity of any debt security, subject to any right we may have retained in the securities resolution and described 
 in the prospectus supplement;                                                                                                        |

| ● | reduce the principal of any non-discounted debt security or reduce the amount of the principal of any discounted debt security that 
 would be due on its acceleration;                                                                                                   |

| ● | change the currency in which the principal or interest on a debt security