Senior Secured Credit Facilities




---



##### 



PageARTICLE I.
DEFINITIONSSection 1.01
    
    Defined Terms
    
    
    2Section 1.02
    
    Terms Generally
    
    
    34Section 1.03
    
    Interrelationship with Existing Credit Agreement
    
    
    35ARTICLE II.
THE CREDITSSection 2.01
    
    Commitments
    
    
    35Section 2.02
    
    Loans and Borrowings Generally
    
    
    36Section 2.03
    
    Requests for Borrowings
    
    
    37Section 2.04
    
    Letters of Credit
    
    
    37Section 2.05
    
    Funding of Borrowings
    
    
    42Section 2.06
    
    Interest Elections
    
    
    43Section 2.07
    
    Termination and Reduction of Commitments; Excluded Portions
    
    
    44Section 2.08
    
    Repayment of Loans Generally; Evidence of Debt
    
    
    45Section 2.09
    
    Repayment of Construction Loans and Revolving Loans
    
    
    46Section 2.10
    
    Prepayment of Loans
    
    
    47Section 2.11
    
    Fees
    
    
    48Section 2.12
    
    Interest
    
    
    49Section 2.13
    
    Alternate Rate of Interest
    
    
    49Section 2.14
    
    Increased Costs
    
    
    50Section 2.15
    
    Break Funding Payments
    
    
    51Section 2.16
    
    Taxes
    
    
    52Section 2.17
    
    Payments Generally; Pro Rata Treatment; Sharing of Set-offs
    
    
    53Section 2.18
    
    Mitigation Obligations
    
    
    55Section 2.19
    
    Incremental Facilities
    
    
    56Section 2.20
    
    Siting Approval
    
    
    57Section 2.21
    
    Illegality
    
    
    58ARTICLE III.
REPRESENTATIONS AND WARRANTIESSection 3.01
    
    Organization; Power and Authority
    
    
    58Section 3.02
    
    Authorization
    
    
    58Section 3.03
    
    Disclosure and Projections
    
    
    59Section 3.04
    
    Subsidiaries
    
    
    59Section 3.05
    
    Financial Statements
    
    
    59Section 3.06
    
    No Conflict
    
    
    60Section 3.07
    
    Governmental Approvals
    
    
    60Section 3.08
    
    Litigation; Compliance with Laws
    
    
    60




---



##### 



PageSection 3.09
    
    Taxes
    
    
    61Section 3.10
    
    Title to Properties; Possession Under Leases
    
    
    61Section 3.11
    
    Permits: Intellectual Property
    
    
    61Section 3.12
    
    Siting of Additional Facilities
    
    
    62Section 3.13
    
    ERISA
    
    
    62Section 3.14
    
    Use of Proceeds
    
    
    62Section 3.15
    
    Liens
    
    
    62Section 3.16
    
    Investment Company Act
    
    
    62Section 3.17
    
    FPA
    
    
    62Section 3.18
    
    Environmental Matters; Hazardous Materials
    
    
    62Section 3.19
    
    Senior Debt
    
    
    63Section 3.20
    
    Solvency
    
    
    63Section 3.21
    
    Employee Matters
    
    
    64Section 3.22
    
    Collateral
    
    
    64Section 3.23
    
    Single Purpose Entity; Separateness
    
    
    64Section 3.24
    
    Major Project Contracts; No Default
    
    
    65Section 3.25
    
    Brokers Fees
    
    
    65Section 3.26
    
    Ownership of Equity Interests
    
    
    65ARTICLE IV.
CONDITIONS PRECEDENT TO CERTAIN EVENTSSection 4.01
    
    Closing Date
    
    
    65Section 4.02
    
    Conditions Precedent to Each Credit Event
    
    
    69Section 4.03
    
    Conditions Precedent to Completion
    
    
    71ARTICLE V.
AFFIRMATIVE COVENANTSSection 5.01
    
    Information Delivery
    
    
    72Section 5.02
    
    Compliance with Laws; Applicable Permits
    
    
    74Section 5.03
    
    Maintenance of Insurance
    
    
    74Section 5.04
    
    Operation of the Project
    
    
    75Section 5.05
    
    Taxes
    
    
    75Section 5.06
    
    Maintenance of Existence
    
    
    75Section 5.07
    
    Senior Debt
    
    
    76Section 5.08
    
    Environmental Law
    
    
    76Section 5.09
    
    Maintenance of Records
    
    
    76Section 5.10
    
    Use of Proceeds and Project Revenues
    
    
    76Section 5.11
    
    Site Visits; Access to Property
    
    
    77Section 5.12
    
    Preservation of Rights; Further Assurances
    
    
    77Section 5.13
    
    Certain Regulatory Matters
    
    
    78Section 5.14
    
    Separate Existence
    
    
    79Section 5.15
    
    FERC Filings
    
    
    79Section 5.16
    
    Solvency of Construction Contractor
    
    
    79Section 5.17
    
    Construction of the Project
    
    
    79Section 5.18
    
    Equity Commitments
    
    
    79




---



##### 



PageSection 5.19
    
    U.S.A. Patriot Act
    
    
    79Section 5.20
    
    Application of Loss Proceeds
    
    
    80ARTICLE VI.
NEGATIVE COVENANTSSection 6.01
    
    Transactions with Affiliates
    
    
    80Section 6.02
    
    No Liquidation, Merger or Consolidation
    
    
    81Section 6.03
    
    Liens
    
    
    81Section 6.04
    
    Indebtedness
    
    
    81Section 6.05
    
    Business Activities
    
    
    81Section 6.06
    
    Sale of Assets
    
    
    81Section 6.07
    
    Reallocation of Assets
    
    
    81Section 6.08
    
    Distributions
    
    
    82Section 6.09
    
    Contingent Liabilities
    
    
    82Section 6.10
    
    Investments
    
    
    82Section 6.11
    
    Fiscal Year, Name, Location and EIN
    
    
    82Section 6.12
    
    Other Agreements
    
    
    82Section 6.13
    
    Amendments to Major Project Contracts and Certain Other Agreements
    
    
    83Section 6.14
    
    ERISA
    
    
    83Section 6.15
    
    Regulations
    
    
    83Section 6.16
    
    Amendments to Project Budget; Project Schedule
    
    
    83Section 6.17
    
    Accounts
    
    
    83Section 6.18
    
    Hazardous Materials
    
    
    84Section 6.19
    
    Other Expenditures; Separately Financed Facilities
    
    
    84Section 6.20
    
    Organizational Documents
    
    
    84ARTICLE VII.
EVENTS OF DEFAULTSection 7.01
    
    Events of Default
    
    
    84Section 7.02
    
    Remedies
    
    
    87ARTICLE VIII.
THE AGENTSSection 8.01
    
    Appointment and Authority
    
    
    88Section 8.02
    
    Each Agent in its Individual Capacity
    
    
    88Section 8.03
    
    Duties of Agents; Exculpatory Provisions
    
    
    89Section 8.04
    
    Reliance by Agents
    
    
    91Section 8.05
    
    Delegation of Duties
    
    
    91Section 8.06
    
    Resignation of Administrative Agent
    
    
    91Section 8.07
    
    Resignation of Collateral Agent
    
    
    92Section 8.08
    
    Non-Reliance on Administrative Agent, Collateral Agent and Other Lender Parties
    
    
    93Section 8.09
    
    No Other Duties, etc
    
    
    94




---



##### 



PageSection 8.10
    
    Withholding Tax
    
    
    94ARTICLE IX.
MISCELLANEOUSSection 9.01
    
    Notices
    
    
    95Section 9.02
    
    Survival of Agreement
    
    
    96Section 9.03
    
    Binding Effect
    
    
    96Section 9.04
    
    Successors and Assigns
    
    
    96Section 9.05
    
    Expenses; Indemnity
    
    
    99Section 9.06
    
    Right of Set-off
    
    
    101Section 9.07
    
    APPLICABLE LAW
    
    
    101Section 9.08
    
    Waivers; Amendment
    
    
    101Section 9.09
    
    Dominion Joint Venture
    
    
    103Section 9.10
    
    Interest Rate Limitation
    
    
    103Section 9.11
    
    Entire Agreement
    
    
    104Section 9.12
    
    WAIVER OF JURY TRIAL
    
    
    104Section 9.13
    
    Severability
    
    
    104Section 9.14
    
    Counterparts
    
    
    104Section 9.15
    
    Headings
    
    
    104Section 9.16
    
    Jurisdiction; Consent to Service of Process
    
    
    104Section 9.17
    
    Confidentiality; Treatment of Information
    
    
    105Section 9.18
    
    Communications
    
    
    107Section 9.19
    
    Posting of Communication
    
    
    109Section 9.20
    
    Release of Liens
    
    
    109Section 9.21
    
    U.S.A. Patriot Act
    
    
    110Section 9.22
    
    Limitation of Recourse
    
    
    110Section 9.23
    
    Separateness of the Borrower from Sponsor and its Subsidiaries
    
    
    110




---



##### 



Exhibits, Schedules and Appendices
 Exhibit A
    
    Form of Assignment and AcceptanceExhibit B-1
    
    Form of Borrowing RequestExhibit B-2
    
    Form of Interest Election RequestExhibit C
    
    Form of Notice of L/C ActivityExhibit D
    
    Form of Subordination TermsExhibit E-1
    
    Form of Construction NoteExhibit E-2
    
    Form of Revolving NoteExhibit F
    
    Form of Certificate of Non-U.S. LenderExhibit G
    
    Form of Solvency CertificateExhibit H-1
    
    Form of Insurance Consultants CertificateExhibit H-2
    
    Form of Independent Engineers CertificateSchedule 1.01(a)
    
    Additional FacilitiesSchedule 1.01(b)
    
    Existing Indebtedness and Existing LiensSchedule 1.01(c)
    
    KnowledgeSchedule 1.01(d)
    
    Allocated Loan AmountsSchedule 2.01
    
    CommitmentsSchedule 3.07
    
    Governmental ApprovalsSchedule 3.15
    
    LiensSchedule 3.18
    
    Environmental MattersSchedule 5.03
    
    InsuranceSchedule 9.01
    
    Notice AddressesAppendix I
    
    Project BudgetAppendix II
    
    Project ScheduleAppendix III
    
    Base Case Projections




---



##### 



Agreement Borrower Section 8.06 Administrative Agent Section 8.07 Collateral
Agent Section 2.04(i) Issuing Bank Arrangers Syndication Agent Documentation Agent
 WITNESSETH :
 Dominion Appalachian Trail TrAIL Transmission Line Additional Facilities Project
 Existing Credit Agreement Existing Lender
  Pledgor




---



##### 



Sponsor
   AGREEMENT :
 ARTICLE I.
DEFINITIONS
 Defined Terms
 Activities
 Additional Equity Amount
 Additional Facilities Schedule 1.01(a)
 Adjusted LIBOR per annum divided by minus
 Administrative Agent
 Administrative Questionnaire
 Affiliate
 Agent Fees Section 2.11(e)
 Agent Parties Section 9.18(b)
 2




---



##### 



Agents
 Agents Group Section 8.02(b)
 Agreement
 Allocated Jointly Owned Segment Loan Amount Schedule 1.01(d)
 Allocated Loan Amount
 Allocated Meadow Brook Loan Amount Schedule 1.01(d)
 Allocated Mt. Storm Loan Amount Schedule 1.01(d)
 Allocated Prexy Loan Amount Schedule 1.01(d)
 Allocated Virginia Loan Amount Schedule 1.01(d)
 Alternate Virginia Segment
 Appalachian Trail
 Applicable Margin
  3




---



##### 



Applicable Permit
 Approved Electronic Communication provided Section 2.10
 Approved Electronic Platform Section
9.19(a)
 Approved Fund
 Approved Jointly Owned Segment Limit
 Approved Limit
 Approved Meadow Brook Limit
 4




---



##### 



Approved Mt. Storm Limit
 Approved Prexy Limit
 Approved Virginia Limit
 Arrangers
 Assignment and Acceptance Exhibit A
 AT Section
 Available Unused Commitment
   Base Rate per annum per annum
 Base Rate Borrowing
 Base Rate Loan Article
II
 5




---



##### 



Base Rate Revolving Borrowing
 Base Rate Revolving Loan Article II
 Board
 Borrower
 Borrowing
 Borrowing Minimum
 Borrowing Multiple
 Borrowing Request Section 2.03 Exhibit B-1
 Business Day provided
 Capital Lease Obligations
 Change in Law Section 2.14(b)
 6




---



##### 



Charges Section 9.10
 CIAC Affiliate Section 6.01
 Class of Lenders
 Closing Date Closing
 Code
 Collateral
 Collateral Agent
 Commitment Fee Section 2.11(a)
 Commitments
 Communications Section 9.18(a)(i)
 Completion Section
4.03
 Construction Availability Period
 Construction Borrowing
 Construction Commitment Section 2.01(a) Section 2.07 Section 9.04 Schedule 2.01
 Construction Contract
 7




---



##### 



Construction Contractor
 Construction Facility
 Construction Lender
 Construction Loan Class
 Construction Loans Section 2.01(a)
 Control Control Controlling Controlled
 CPCN
 Credit Event Section 4.02
 Credit Event Date
 Credit Facilities
 CWIP i.e.
 Debt Service Coverage Ratio
 Debt to Equity Ratio
 8




---



##### 



provided .
 Default
 Defaulting Lender
 Distributions
 Documentation Agent
 Dollars $
 Dominion
 Dominion Direct Agreement Section
5.12(c)
 Dominion/TrAILCo Agreement
 Eligible Assignee
 Eminent Domain Proceeds
 9




---



##### 



Environment
 Environmental Claim
 Environmental Law et seq. et seq. et seq. et seq. et seq. et seq. et seq.
 Equity Commitment
 Equity Commitment Agreement
 Equity Contributions
 Equity Interests
 ERISA
 ERISA Affiliate
 ERISA Event
 10




---



##### 



provided however
 Eurocurrency Liabilities
 Eurodollar Article II
 Eurodollar Borrowing
 Eurodollar Loan Article II
 Eurodollar Revolving Loan Article
II
 Event of Default Section 7.01
 Event of Eminent Domain
 Excluded Portion
 11




---



##### 



provided Excluded
Portion Loan Amount
 Excluded Portion Loan Amount
 Excluded Taxes Section 2.18 Section 2.16(a) Section 2.16(c Section 2.16(e) Section 2.16(f) provided however
 Existing Credit Agreement
 Existing Indebtedness Schedule 1.01(b)
 Existing Lender
 12




---



##### 



Existing Liens Schedule 1.01(b)
 Facility Percentage Section
9.04
 Federal Funds Effective Rate per annum
 Fees
 FERC
 Financial Model Appendix III
 Financial Officer
 Financing Documents Section 2.08(e)
 FPA
 Fronting Fees Section 2.11(d)(i)
 Funds Flow Memorandum
 13




---



##### 



GAAP Section
1.02(g)
 Governmental Authority
 Governmental Rule
 Guarantee guarantor primary obligor provided however
 Hazardous Materials
 Hedging Agreement
 14




---



##### 



Hedging Indebtedness
 Increased Amount Date Section
2.19(a)
 Indebtedness
 Indemnified Taxes
 Indemnitee Section 9.05(b)
 Independent Engineer
 Independent Engineers Report
 Information Section 9.17
 15




---



##### 



Information Memorandum
 Insolvent
   Insurance Consultant
 Insurance Consultants Report
 Insurance Proceeds
 16




---



##### 



Interest Election Request Section 2.06
 Interest Payment Date
 Interest Period Section 2.06 Sections 2.08 2.09 2.10 provided, however
 Interim Equity Contribution
 Issuing Bank
 Jointly Owned Segment
 Kenny Direct Agreement
 Knowledge Schedule 1.01(c)
 L/C Disbursement
 17




---



##### 



L/C Exposure Section 2.04(j)
 L/C Issuing Commitment Section 2.04 Section 2.07 Section 9.04 Schedule 2.01
 L/C Participation Fee Section 2.11(c)
 L/C Processing Fees Section
2.11(d)(ii)
 L/C Reimbursement Obligation Sections 2.04(e) (f)
 Legal Requirements
 Lender Schedule 2.01 Section 2.19 Section
9.04
 Lender Default Section 2.04(d) Section 2.04(e) Section
2.04 2.05
 Lender Party
 Letter of Credit Section 2.04
 LIBOR
   18




---



##### 



LIBOR Reserve Percentage
 Lien
 Loans
 Loan Party
 Loss Proceeds
 Major Project Contracts provided
 Major Project Participants provided
 Margin Stock
 Material Adverse Effect
 19




---



##### 



Materiality Threshold Section
7.01(g)
 Maturity Date
 Maximum Debt to Equity Ratio
 Maximum Rate Section 9.10
 Meadow Brook Segment
 Meadow Brook Substation
 Moodys
 Mt. Storm Segment
 Mt. Storm Substation
 Multiemployer Plan
 Multiple Employer Plan
 20




---



##### 



Net Available Amount
 New Construction Facility
 New Construction Loan Section
2.19(c)
 New Construction Commitments Section
2.19(a)
 New Construction Lender Section
2.19(a)
 Non-Consenting Lender Section
9.08(d)
 Non-U.S. Lender Section 2.16(e)
 Notice of L/C Activity Section 2.04 Exhibit C
 Obligations
 Other Taxes
 Participant Section 9.04(c)(i)
 PBGC
 21




---



##### 



Permits
 Permitted Affiliate Transaction Section
6.01
 Permitted Debt
  pari passu
 provided
     provided
 provided plus
 provided
 22




---



##### 



Exhibit D
  Permitted Investments
     provided
 Permitted Liens
  Section 5.05
  23




---



##### 



Section 7.01(i)
 pari passu
  provided however provided further
   provided pari passu
 24




---



##### 



Permitted Pre-Construction Expenditures
 Permitted Refinancing provided pari passu provided
 Person
 25




---



##### 



PJM
 PJM Letter
 Plan
 Pledge Agreement
 Pledgor
 Prexy Segment
 Professional Services Agreement
 Project
 Project Budget Appendix I
 Project Contracts
 Project Costs Schedule 1.01(a) provided
 26




---



##### 



Project Equity Commitment
 Project Receipt Payments
 Project Schedule Appendix II
 Projections
 Proposed Virginia Segment
 Prudent Utility Practice
 PUHCA 2005
 Qualifying Additional Facilities
    27




---



##### 



Quotation Day
 Real Property
 Register Section 2.08(c)
 Regulation U
 Regulation X
 Related Parties
 Release
 Required Class Lenders
 Required Construction Class Lenders
 28




---



##### 



Required Lenders
 Responsible Officer
 Restricting Information Section
9.17(b)
 Revolving Availability Period
 Revolving Borrowing
 Revolving Commitment Section 2.01(b) Section 2.07 Section 9.04 Schedule 2.01
 Revolving Facility
 Revolving Facility Exposure
 Revolving Lender
 29




---



##### 



Revolving Loans Section 2.01(b)
 S&P
 Screen Rate per annum
 Secured Parties
 Secured Party Appointment Period Section 8.06
 Security Documents Section 5.12
 Segments
 Separately Financed Facility
     30




---



##### 



Additional Equity Amount Total Additional Equity
Amount provided provided further
    Series Section 2.19(c)
 Service Agreement
 ServiceCo
 ServiceCo Direct Agreement
 SFF Equity Commitment
 31




---



##### 



Single-Employer Plan
 Siting Approval
  provided
 Sponsor
 Subsidiary
 Syndication Agent
 Tax Allocation Agreement
 Taxes ad
 32




---



##### 



valorem
 Termination Event
 Total Additional Equity Amount
 TrAIL Transmission Line
 TrAILCo Accounts TrAILCo Operating
Account provided
 TrAILCo Operating Account
 Transaction Documents
 Transactions
 Transmission Owners Agreement
 Type Rate
 UCC
 33




---



##### 



U.S. Bankruptcy Code
 U.S.A. Patriot Act
 Used and Useful
 Virginia SCC
 Virginia Segment
 West Virginia Facility
 West Virginia PSC
 West Virginia Settlement
 Withdrawal Liability
 Terms Generally
 Section 1.01
    34




---



##### 



provided
 Interrelationship with Existing Credit Agreement
   ARTICLE II.
THE CREDITS
 Commitments
 35




---



##### 



Loans and Borrowings Generally
 provided however provided
 Section 2.13
 provided Section 2.04(e) provided
 36




---



##### 



Section
2.04(e) provided
  Requests for Borrowings
 Section 2.04(e) Section 2.02
       Letters of Credit
 37




---



##### 



General Section 5.10
 Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions
 Expiration Date provided
 Lender Participations
 38




---



##### 



Reimbursement of L/C Disbursements provided Section 2.03 Section 2.05 Section 2.05 mutatis mutandis
 Reimbursement Obligations Absolute
 39




---



##### 



Section 2.04(e) provided
 Disbursement Procedures provided
 40




---



##### 



Interim Interest per annum provided Section 2.12(c)
 Replacement of an Issuing Bank Section
2.11
 Cash Collateralization Section 7.01(h) provided Section 7.01(h) Section 2.10(b) Section
2.10(b)
 41




---



##### 



Section 2.10(b) Section 2.10(b)
 Additional Issuing Banks
 Reporting Section 2.04(b) Section 9.18(b)
 Funding of Borrowings
 42




---



##### 



provided Section 2.04(e)
  Interest Elections
  Section 2.03 Exhibit B-2
 43




---



##### 



Section 2.02
        Termination and Reduction of Commitments; Excluded Portions
  provided
 44




---



##### 



Section 2.10 Section 2.10
 provided provided
 provided
 Repayment of Loans Generally; Evidence of Debt
  45




---



##### 



Register
 provided
 Exhibit E-1 Exhibit E-2 Section 9.04
 Repayment of Construction Loans and Revolving Loans
  Section 2.10(b) first pro rata second pro rata Section 2.10(b)(i) Section
2.10(b)
 46




---



##### 



Section 2.10(a)
  Prepayment of Loans
 Voluntary Prepayments Section 2.15 Section 2.09(d)
 Mandatory Prepayments
 Section 2.09(b)
 Section 5.20 Section 2.09(b)
 Section 2.04(j)
  47




---



##### 



Fees
 Commitment Fee per annum per annum
  L/C Participation Fee per annum
  Fronting Fee
 L/C Processing Fees
 48




---



##### 



Agent Fees
  Interest
   per annum provided Section 9.10
 provided
  Alternate Rate of Interest
 49




---



##### 



Increased Costs
      50




---



##### 



provided provided further
 Break Funding Payments Section 2.21 Section
2.13 Section
2.18
 51




---



##### 



Taxes
 provided
    Non-U.S. Lender
 52




---



##### 



Exhibit F
  provided
 Payments Generally; Pro Rata Treatment; Sharing of Set-offs
 Section 2.14 2.15 2.16
 53




---



##### 



Sections
2.14 2.15 2.16 9.05
 first second
 provided
 54




---



##### 



Section 2.04(d) 2.05 2.17(d)
 Mitigation Obligations
 Section 2.14 Section 2.16 Section 2.14 2.16
 Section 2.14 Section 2.16 provided
 55




---



##### 



Section
2.14 Section 2.16 Sections 2.14 2.15 2.16
 Incremental Facilities
 New Construction Commitments Increased Amount Date New Construction Lender
  Sections 4.02(b) 4.02(c) 4.02(d) 4.02(e) 4.02(f) Section 4.02(f)
    56




---



##### 



Section 2.19
 Section 2.19(b) New Construction Loan Series
 Section 2.16(e)
 Section 5.10 Section 4.02(g)
 Section 2.19 Section
2.19
 Siting Approval
 57




---



##### 



Illegality
 ARTICLE III.
REPRESENTATIONS AND WARRANTIES
 Section 4.01(l)(i) Section 4.02(c)
 Organization; Power and Authority
     Authorization
 58




---



##### 



Disclosure and Projections
  pro forma
   Subsidiaries
 Financial Statements Section 4.01(i
 59




---



##### 



No Conflict
     Governmental Approvals Schedule 3.07
   Litigation; Compliance with Laws
    60




---



##### 



Taxes
 Title to Properties; Possession Under Leases
 Permits: Intellectual Property
    61




---



##### 



Siting of Additional Facilities
 ERISA
    Use of Proceeds Section 5.10
 Liens Schedule 3.15
 Investment Company Act
 FPA
 Environmental Matters; Hazardous Materials
 62




---



##### 



Schedule 3.18
     Section 3.18
 Senior Debt pari
passu
 Solvency
    63




---



##### 



Employee Matters
    Collateral
 Single Purpose Entity; Separateness
   Section
6.05
 64




---



##### 



Major Project Contracts; No Default
 provided
   Brokers Fees
 Ownership of Equity Interests
 ARTICLE IV.
CONDITIONS PRECEDENT TO CERTAIN EVENTS
 Closing Date
 65




---



##### 



Governing Documents
     Financing Documents Section 2.08(e)
 Major Project Contracts
 66




---



##### 



Project Schedule; Project Budget
 Collateral; Filings and Recordings
      Closing Certificates Section 4.01(l) Exhibit
G
 Legal Opinions
 67




---



##### 



Financial Model
 Financial Statements pro forma
 Payments; Repayments of Existing Indebtedness and Release of Existing Liens
 No Default or Event of Default
 Representations and Warranties Article III
 Independent Consultants Reports Exhibit H-2 Exhibit H-1
 Insurance Schedule 5.03
 68




---



##### 



FERC
 Applicable Permits
 Real Property
   U.S.A. Patriot Act
 No Material Adverse Effect
 West Virginia CPCN
 Conditions Precedent to Each Credit Event
 69




---



##### 



Credit
Event
 Borrowing Request; Notice of L/C Activity Section 2.03 Section 2.04
 No Default or Event of Default
 Representations and Warranties Article III
 No Material Adverse Effect
 FERC
 Expected Completion
 70




---



##### 



Loans applied to Jointly Owned Segment
 Conditions Precedent to Completion Completion
 Completion
 Equity Commitments
 Debt to Equity Ratio
 Lien Releases provided however
 71




---



##### 



ARTICLE V.
AFFIRMATIVE COVENANTS
 provided
 Information Delivery
    72




---



##### 



73




---



##### 



Section 5.03
     Compliance with Laws; Applicable Permits provided
 Maintenance of Insurance
 74




---



##### 



Schedule 5.03 Section 2.12(c)
 Section 5.03 Section 5.03
 Operation of the Project
 Taxes provided
 Maintenance of Existence
 75




---



##### 



Senior Debt pari passu
 Environmental Law
 Section 5.08 Article V Section 5.01(q)
 Maintenance of Records
 Use of Proceeds and Project Revenues
 Section 6.08(a) Section 6.08(c)
 provided
 76




---



##### 



Site Visits; Access to Property
 ,
 Section 5.11(a)
 Preservation of Rights; Further Assurances
  77




---



##### 



Section 2.04(j)
 Dominion Direct Agreement
  Certain Regulatory Matters
   78




---



##### 



provided
 Separate Existence provided
 FERC Filings
 Solvency of Construction Contractor
 Construction of the Project
 Equity Commitments
 U.S.A. Patriot Act
 79




---



##### 



Application of Loss Proceeds
 ARTICLE VI.
NEGATIVE COVENANTS
 provided
 Transactions with Affiliates Section 6.01(c) CIAC Affiliate provided plus
 80




---



##### 



Permitted Affiliate Transaction
 No Liquidation, Merger or Consolidation
 Liens
 Indebtedness
 Business Activities Section 6.19 provided
 Sale of Assets provided
 Reallocation of Assets
 81




---



##### 



Distributions
    Contingent Liabilities
 Investments
 Fiscal Year, Name, Location and EIN
 Other Agreements
 82




---



##### 



Amendments to Major Project Contracts and Certain Other Agreements
   ERISA
 Regulations
 Amendments to Project Budget; Project Schedule
   Accounts
 83




---



##### 



Hazardous Materials
 Other Expenditures; Separately Financed Facilities
   Organizational Documents
 ARTICLE VII.
EVENTS OF DEFAULT
 Events of Default Event of Default
 Principal Payment Default
 Interest Payment Default
 Other Financing Document Payment Default
 Immediate Covenant Default Section 5.01(d) 5.03 6.01 6.02 6.03 Section 7.01(e) 6.04 6.05 6.06 6.07 6.08 6.10 6.13
 84




---



##### 



Defaults with Cure provided
 Misrepresentations provided
 Non-Payment; Cross-Acceleration Materiality Threshold
 Bankruptcy provided
 Judgments
 ERISA
  85




---



##### 



Section 7.01(j)
 Section
7.01(j) per annum
 Section 7.01(j)
 Major Project Participants provided
 Applicable Permits provided
 Abandonment of Project
 86




---



##### 



Affiliates
 Equity Commitments
 Liens
 Major Project Contracts
 Financing Documentation
 Remedies Section 7.01
 87




---



##### 



Section 2.04(j) Section
7.01 Section 2.04(j)
 ARTICLE VIII.
THE AGENTS
 Appointment and Authority
 Section 8.06 Section 8.07
 Each Agent in its Individual Capacity
  Agents Group
 88




---



##### 



Duties of Agents; Exculpatory Provisions
  89




---



##### 



provided
 Sections 7.02 9.10
 Article IV
 90




---



##### 



Reliance by Agents
    Delegation of Duties Section 8.05 Section 9.06
 Resignation of Administrative Agent
 91




---



##### 



Section 8.06 Secured Party Appointment Period Section 9.06
 Resignation of Collateral Agent Section 8.07
 92




---



##### 



Section 9.06
 Non-Reliance on Administrative Agent, Collateral Agent and Other Lender
Parties
  93




---



##### 



No Other Duties, etc
 Withholding Tax
 94




---



##### 



ARTICLE IX.
MISCELLANEOUS
 Notices
 Schedule 9.01
 Section 9.02 provided however Article II Article VIII
 Schedule 9.01
 95




---



##### 



Survival of Agreement Sections 2.18 2.20 9.05
 Binding Effect
 Successors and Assigns
   96




---



##### 



provided
 (1)
    
    for any assignment of a Loan or
Commitment to an assignee that is, immediately prior to giving
effect to such assignment, (x) a Lender, (y) an Affiliate of a
Lender, or (z) an Approved Fund with respect to a Lender
(provided that any liability of the Borrower to an
assignee that is an Approved Fund or Affiliate of the assigning
Lender under Section 2.14 or 2.16 shall be
limited to the amount, if any, that would have been payable
hereunder by the Borrower in the absence of such assignment); or(2)
    
    if an Event of Default has
occurred and is continuing, for any assignment; and
 provided
 (1)
    
    for any assignment of a
Construction Loan, New Construction Loan, Construction
Commitment or New Construction Commitment to an assignee that
is, immediately prior to giving effect to such assignment, (x) a
Lender, (y) an Affiliate of a Lender, or (z) an Approved Fund
with respect to a Lender; or(2)
    
    for any assignment of a Revolving
Loan or Revolving Commitment to an assignee that is, immediately
prior to giving effect to such assignment, (x) a Revolving
Lender, (y) an Affiliate of a Revolving Lender, or (z) an
Approved Fund with respect to a Revolving Lender; and
  provided
 97




---



##### 



Sections 2.14 2.16 9.05
  Participant provided
 98




---



##### 



provided Section 9.04(a)(i) Section 9.08(b) Sections 2.14 2.15 2.16
 Section 2.14 2.15 2.16 Section 2.16 Section 2.16(e)
 provided
 Expenses; Indemnity
  99




---



##### 



Indemnitee provided
 pro rata pro rata provided
 100




---



##### 



Right of Set-off
 APPLICABLE LAW
 Waivers; Amendment
   101




---



##### 



provided however
    Sections 2.17(b) 2.17(c) pro rata
      102




---



##### 



provided further
  Section 9.08 Section 9.08 Non-Consenting Lender Section 9.08 provided Sections
2.14 2.15 2.16
 Dominion Joint Venture
 Interest Rate Limitation Charges Maximum Rate
 103




---



##### 



provided
 Entire Agreement
 WAIVER OF JURY TRIAL SECTION
9.12
 Severability
 Counterparts Section 9.03
 Headings
 Jurisdiction; Consent to Service of Process
 104




---



##### 



Schedule 9.01
  Confidentiality; Treatment of Information
  105




---



##### 



Restricting Information
 Section 9.17
 106




---



##### 



Section 9.17 Section 9.18
   Section 9.17
 Communications
 107




---



##### 



Delivery
 Communications Schedule 9.01
 Schedule 9.01
 Agent Parties
 108




---



##### 



Posting of Communication
 Approved Electronic
Platform
    Release of Liens
 109




---



##### 



U.S.A. Patriot Act
 Limitation of Recourse
 Separateness of the Borrower from Sponsor and its Subsidiaries
 Signature pages follow.
 110




---



##### 



TRANS-ALLEGHENY INTERSTATELINE COMPANYas the BorrowerBy:
    /s/  Barry E. PakenhamName:
    Barry E. PakenhamTitle:
    TreasurerUNION BANK OF CALIFORNIA, N.A.,as Collateral AgentBy:
    /s/  Luis PerezName:
    Luis PerezTitle:
    Vice PresidentBNP PARIBAS SECURITIES CORP.,as Joint Lead ArrangerBy:
    /s/  Aashish MohanName:
    Aashish MohanTitle:
    DirectorBANK OF AMERICA, N.A.,as Documentation Agent and as aLenderBy:
    /s/  Jacob DowdenName:
    Jacob DowdenTitle:
    Vice PresidentBARCLAYS BANK PLC,as a LenderBy:
    /s/  Nicholas BellName:
    Nicholas BellTitle:
    Director
 CITIBANK, N.A.as Administrative Agent and a LenderBy:
    /s/  A. LicataName:
    A. LicataTitle:
    DirectorBNP PARIBAS,as Issuing BankBy:
    /s/  Andrew PlattName:
    Andrew PlattTitle:
    Managing DirectorBy:
    /s/  Timothy ChinName:
    Timothy ChinTitle:
    DirectorCITIGROUP GLOBAL MARKETS INC.,as Joint Lead ArrangerBy:
    /s/  A. LicataName:
    A. LicataTitle:
    DirectorTHE BANK OF NOVA SCOTIA,as Syndication Agent and as aLenderBy:
    /s/  Thane RattewName:
    Thane RattewTitle:
    Managing DirectorBNP PARIBASas LenderBy:
    /s/  Timothy ChinName:
    Timothy ChinTitle:
    DirectorBy:
    /s/  Andrew PlattName:
    Andrew PlattTitle:
    Managing Director




---



##### 



Credit Suisse, Cayman Islands Branch,as a LenderBy:
    /s/  Rianka MohanName:
    Rianka MohanTitle:
    Vice PresidentBy:
    /s/  Christopher Reo DayName:
    Christopher Reo DayTitle:
    AssociateTHE HUNTINGTON NATIONAL BANK,as a LenderBy:
    /s/  W. Christopher KohlerName:
    W. Christopher KohlerTitle:
    Vice PresidentMORGAN STANLEY BANK,as a LenderBy:
    /s/  Elizabeth HendricksName:
    Elizabeth HendricksTitle:
    Authorized SignatoryNATIXIS, NEW YORK BRANCH,as a LenderBy:
    /s/  Richard GarciaName:
    Richard GarciaTitle:
    Senior Managing Director /s/  Anthony PernaAnthony PernaDirector UNION BANK OF CALIFORNIA, N.A.,as a LenderBy:
    /s/  John GuildsName:
    John GuildsTitle:
    Vice President
 COMMERZBANK AG, NEW YORK ANDGRAND CAYMAN BRANCHES,as a LenderBy:
    /s/  Hans J. ScholzName:
    Hans J. ScholzTitle:
    Vice PresidentBy:
    /s/  Eli DavisName:
    Eli DavisTitle:
    Assistant TreasurerDZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK,FRANKFURT AMMAIN, NEW YORK BRANCH,as a LenderBy:
    /s/  Steven L. BissonnetteName:
    Steven L. BissonnetteTitle:
    First Vice PresidentBy:
    /s/  Judson M. HornName:
    Judson M. HornTitle:
    Assistant TreasurerJPMORGAN CHASE BANK, N.A.,as a LenderBy:
    /s/  Juan JavellanaName:
    Juan JavellanaTitle:
    Vice PresidentNATIONAL CITY BANK,as a LenderBy:
    /s/  Susan J. DimmickName:
    Susan J. DimmickTitle:
    Senior Vice President




---



##### 



US BANK, N.A.,as a LenderBy:
    /s/  Felicia La ForgiaName:
    Felicia La ForgiaTitle:
    Senior Vice PresidentCOBANK, ACB,as a LenderBy:
    /s/  Brett A. ChallengeName:
    Brett A. ChallengeTitle:
    VP
 PNC BANK, N.A.,as a LenderBy:
    /s/  Tracy J. DeCochName:
    Tracy J. DeCochTitle:
    Vice President