Company: PCG-PB
Filing Date: 2025-01-21
Form Type: 8-K
Source: 0001193125-25-009579
Chunk: 4

Company: PG&E Corp
Filing Date: 2025-01-21
Form: 8-K
Item: Item 1.01
Chunk 4
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 the Test Date, eligible for cost recovery in final approvals from the FERC or the CPUC for all Eligible Projects upon which advances have been made, less the amount that is 5% of total advances made under the Guaranteed Loan.

Specified Prepayment Event

If a default or event of default under the Loan Guarantee Agreement occurs as a result of a breach or violation of certain specified covenants concerning (1) the Davis-Bacon Act, (2) the Cargo Preference Act, (3) federal lobbying requirements, (4) applicable environmental laws (with respect to the Utility and with respect to any Eligible Projects) and (5) completion of Eligible Projects, the Utility may elect to prepay the advance(s) under the Guaranteed Loan which funded the Eligible Project(s) subject to the default or event of default. This optional prepayment may be made in up to twelve equal quarterly installments if the prepayment amount is greater than $100 million. Upon such optional prepayment election, the applicable default or event of default shall no longer exist.

Other Optional Prepayment Event

If a default or event of default under the Loan Guarantee Agreement occurs with respect to the inaccuracy of any representation or warranty when made or deemed made or breach of certain other covenants, the Utility may elect to prepay all advances under the Guaranteed Loan. This optional prepayment may be made in up to twelve equal quarterly installments if the prepayment amount is greater than $100 million. Upon such optional prepayment election, the default or event of default shall no longer exist, but the Utility would no longer be permitted to borrow under the Facility.

Other Optional Prepayments

The Utility may from time to time elect to prepay all or any portion of the outstanding principal amount of any advance under the Guaranteed Loan.

The foregoing descriptions of the Loan Guarantee Agreement, the Note Purchase Agreement, and the Note are qualified in their entirety by reference to the full text of the Loan Guarantee Agreement, the Note Purchase Agreement and the Note, which are attached as Exhibit 10.1, Exhibit 4.2, and Exhibit 4.3 hereto, respectively, and incorporated by reference herein.

  Item 8.01.      Other Events  

In connection with the Facility, on January 17, 2025, the Utility and The Bank of New York Mellon Trust Company, N. A., as trustee (the “ Trustee”) under that certain Indenture of Mortgage, dated as of June 19, 2020 (as amended