Document:

exv4w36

Exhibit 4.36

 

THE DETROIT EDISON COMPANY

AND

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

TRUSTEE

 

SUPPLEMENTAL INDENTURE

        
           DATED AS OF     
             
             
             
             
               
             

 

SUPPLEMENTING THE COLLATERAL TRUST INDENTURE

DATED AS OF JUNE 30,1993

PROVIDING FOR

SERIES       %            DUE

 

 

 

     SUPPLEMENTAL INDENTURE, dated as of the            day of            between THE
DETROIT EDISON COMPANY, a corporation organized and existing under the laws of the State of
Michigan (the “Company”), and The Bank of New York Mellon Trust Company, N.A., a national banking
association organized under the laws of the United States of America, having a corporate trust
office in the The City of Detroit, Michigan, as successor trustee (the “Trustee”);

     WHEREAS, the Company has heretofore executed and delivered to the Trustee a Collateral Trust
Indenture dated as of June 30, 1993 (the “Original Indenture”), as supplemented providing for the
issuance by the Company from time to time of its debt securities; and

     WHEREAS, the Company now desires to provide for the issuance of an additional series of its
unsecured, [senior] [subordinated] debt securities pursuant to the Original Indenture; and

     WHEREAS, the Company, in the exercise of the power and authority conferred upon and reserved
to it under the provisions of the Original Indenture, including Section 1001 thereof, and pursuant
to appropriate resolutions of the Board of Directors, has duly determined to make, execute and
deliver to the Trustee this            Supplemental Indenture to the Original Indenture
as permitted by Sections 201 and 301 of the Original Indenture in order to establish the form or
terms of, and to provide for the creation and issue of, a series of its debt securities under the
Original Indenture, which shall be known as the            Series      %             due            ; and

     WHEREAS, all things necessary to make such debt securities, when executed by the Company and
authenticated and delivered by the Trustee or any Authenticating Agent and issued upon the terms
and subject to the conditions hereinafter and in the Original Indenture set forth against payment
therefor, the valid, binding and legal obligations of the Company and to make this          Supplemental Indenture a valid, binding and legal agreement of the Company, have been
done;

     NOW, THEREFORE, THIS            SUPPLEMENTAL INDENTURE WITNESSETH that, in
order to establish the terms of a series of debt securities, and for and in consideration of the
premises and of the covenants contained in the Original Indenture and in this            
Supplemental Indenture and for other good and valuable consideration the receipt and
sufficiency of which are hereby acknowledged, it is mutually covenanted and agreed as follows:

ARTICLE ONE

DEFINITIONS AND OTHER

PROVISIONS OF GENERAL APPLICATION

     SECTION 101. Definitions. Each capitalized term that is used herein and is defined in the
Original Indenture shall have the meaning specified in the Original Indenture unless such term is
otherwise defined herein.

     “Business Day” shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a
day on which banking institutions located in the State of Michigan or in the state in which the
principal corporate trust office of the Trustee is located, are authorized or obligated by or
pursuant to law or executive order to close.

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     [“Capital Stock” means any and all shares of the Company’s Preferred Stock, Preference Stock
or Common Stock or any other equity securities of the Company.]

     [“Payment Obligation,” when used with respect to Senior Indebtedness, means an obligation
stated in an agreement, instrument or lease to pay money (whether for principal, premium, interest,
sinking fund, periodic rent, stipulated value, termination value, liquidated damages or otherwise),
but excluding an obligation to pay money in respect of fees of, or as payment or reimbursement for
expenses incurred by or on behalf of, or as indemnity for losses, damages, taxes or other indemnity
claims of any kind owed to, any holder of Senior Indebtedness or other party to such agreement,
instrument or lease.]

     [“Senior Indebtedness” means each of the following, whether outstanding on the date hereof or
hereafter created, incurred or assumed:

     (a)(i) any Payment Obligation of the Company in respect of any indebtedness, directly or
indirectly, created, incurred or assumed for borrowed money other than (A) [list of subordinated
debt securities outstanding] each of which has been expressly deemed by its terms to be subordinate
or (ii) in connection with the acquisition of any business, property or asset (including
securities), other than any account payable or other indebtedness created, incurred or assumed in
the ordinary course of business in connection with the obtaining of materials or services;

     (b) any Payment Obligation of the Company in respect of any lease that would, in accordance
with generally accepted accounting principles, be required to be classified and accounted for as a
capital lease;

     (c) any Payment Obligation of the Company in respect of any interest rate exchange agreement,
currency exchange agreement or similar agreement that provides for payment (whether or not
contingent) over a period or term (including any renewals or extensions) longer than one year from
the execution thereof;

     (d) any Payment Obligation of the Company in respect of any agreement relating to the
acquisition (including a sale and buyback) or lease (including a sale and leaseback) of real or
personal property that provides for payment (whether or not contingent) over a period or term
(including any renewals or extensions) longer than one year from the execution thereof;

     (e) any Payment Obligation of any Subsidiary or of others of the kind described in the
preceding clauses (a) through (d) assumed or guaranteed by the Company or for which the Company is
otherwise responsible or liable; and

     (f) any amendment, renewal, extension or refunding of any Payment Obligation described in the
preceding subparagraphs (a) through (e); unless in the agreement, instrument or lease in which any
such Payment Obligation is stated it is expressly provided that such Payment Obligation is not
senior in right of payment to the            .]

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     [“Tax Event” means that the Company shall have received an opinion of counsel (which may be
counsel to the Company or an affiliate but not an employee thereof) experienced in such matters to
the effect that, as a result of any amendment to, or change (including any announced
prospective change), in the laws (or any regulations thereunder) of the United States or any
political subdivision or taxing authority thereof or therein affecting taxation, or as a result of
any official administrative pronouncement or judicial decision interpreting or applying such laws
or regulations, which amendment or change is effective or such pronouncement or decision is
announced on or after the date of original issuance of the      , there is more than
an insubstantial risk that interest payable by the Company on the            is not, or
will not be, deductible by the Company for federal income tax purposes.]

     SECTION 102. Section References. Each reference to a particular section set forth in this           
Supplemental Indenture shall, unless the context otherwise requires, refer to
this            Supplemental Indenture.

ARTICLE TWO

TITLE AND TERMS OF THE

     SECTION 201. Title of the            . This            Supplemental Indenture
hereby establishes a series of            , which shall be known as the Company’s
          Series            %            due            (referred to herein as the “
          “). For purposes of the Original Indenture, the            shall constitute a single series
of Securities. The stated maturity of the            will be            .

     SECTION 202. Variations from the Original Indenture. (a) Notwithstanding the provisions of
the Original Indenture, the            shall be without benefit of any security [and
shall be subordinated to Senior Indebtedness as and to the extent provided in Article Four of this
Supplemental Indenture]. [The            shall not have the benefit of the provisions of
Article Four of the Original Indenture and shall not have the benefit of, or be subject to, the
other related provisions of the Original Indenture relating to the grant of security, including
(for avoidance of doubt and not for purposes of limitation) the Granting Clause, the definitions of
“Deliverable Mortgage Bonds,” “Deliverable Securities,” “Designated Mortgage Bonds,” “Grant,”
“Mortgage,” “Mortgage Bonds,” “Mortgage Trustee,” “Previously Delivered Mortgage Bonds,” and “Trust
Estate,” Section 301 (20), Sections 301 (a) (v), (ix), (x) and (xi), Sections 301 (b) (ii) and
(iii), Section 301 (d), and Sections 601(4) and (8)].

     (b) Section 503 of the Original Indenture shall apply to the Notes. The following shall be an
additional condition to defeasance of the Notes under Section 503: the Company shall have delivered
to the Trustee an Opinion of Counsel stating that (i) the Company has received from the Internal
Revenue Service a letter ruling, or there has been published by the Internal Revenue Service a
Revenue Ruling, or (ii) since the date of execution of this Supplemental Indenture, there has been
a change in the applicable Federal income tax law, in either case to the effect that, and based
thereon such opinion shall confirm that, the Holders of such Outstanding Notes appertaining thereto
will not recognize income, gain or loss for Federal income tax purposes as a result of such
defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such defeasance had not occurred, and, also, to the
effect that, after the 123rd day after the date of deposit, all money and other property
as provided pursuant to Section 503 of the Original Indenture (including the

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proceeds thereof)
deposited or caused to be deposited with the Trustee (or other qualifying trustee) pursuant to
Section 503 of the Original Indenture to be held in trust will not be subject to any case or
proceeding (whether voluntary or involuntary) in respect of the Company under any
Federal or State bankruptcy, insolvency, reorganization or other similar law, or any decree or
order for relief in respect of the Company issued in connection therewith.

     SECTION 203. Amount and Denominations; DTC. (a) The aggregate principal amount of          
that may be issued under this            Supplemental Indenture is limited to $          
        . The            shall be issuable only in fully registered form and, as
permitted by Sections 301 and 302 of the Original Indenture, in denominations of $          
and integral multiples thereof. The            will initially be issued under a
book-entry system, registered in the name of The Depository Trust Company, as depository (“DTC”),
or its nominee, who is hereby designated as “U.S. Depository” under the Original Indenture.

     (b) Further to Section 305 of the Original Indenture, any Global Note shall be exchangeable
for Notes registered in the name of, and a transfer of a Global Note of any series may be
registered to, any Person other than the Depository for such Note or its nominee only if (i) such
Depository notifies the Company that it is unwilling or unable to continue as Depository for such
Global Note or if at any time such Depository ceases to be a clearing agency registered under the
Exchange Act, and, in either such case, the Company does not appoint a successor Depository within
90 days thereafter, (ii) the Company executes and delivers to the Trustee a Company Order that such
Global Note shall be so exchangeable and the transfer thereof so registrable or (iii) there shall
have occurred and be continuing an Event of Default or an event which, with the giving of notice or
lapse of time, or both, would constitute an Event of Default with respect to the Notes of such
series. Upon the occurrence in respect of any Global Note of any series of any or more of the
conditions specified in clause (i), (ii) or (iii) of the preceding sentence, such Global Note may
be exchanged for Notes registered in the name of, and the transfer of such Global Note may be
registered to, such Persons (including Persons other than the Depository with respect to such
series and its nominees) as such Depository, in the case of an exchange, and the Company, in the
case of a transfer, shall direct.

     SECTION 204. Interest Rate and Interest Payment Dates. (a) The            will
bear interest at the rate of            % per annum from the date of original issuance until the
principal thereof becomes due and payable, and on any overdue principal and (to the extent that
payment of such interest is enforceable under applicable law) on any overdue installment of
interest at the same rate per annum during such overdue period. Interest on the           
will be payable           [(subject to deferral as set forth herein)] in arrears on           
and           of each year (each an “Interest Payment
Date”), commencing            , to the persons in whose names the           
are registered at the close of business on the relevant record date for such interest
installment, which will be            [Business] Day(s) prior to the relevant Interest Payment Date
[or, in the case of a Deferral Period (as described herein), one Business Day prior to the Interest
Payment Date for such Deferral Period] (each a “Record Date”); provided, however, that, in the
event that any Interest Payment Date shall not be a Business Day, then interest shall be payable on
the next day that is a Business Day (but without interest or other payment in respect of such
delay), [except that, if such Business Day is in the next succeeding calendar year, such payment
shall be made on the immediately preceding Business Day without reduction in amount due to such
early payment (and in which case the relevant Record Date shall be on the Business Day immediately
preceding such Interest Payment Date),] in each case with the same force and effect as if made on
such Interest Payment Date, [subject to certain rights of deferral described in Section 204(b)
hereof].

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     [The amount of interest payable in any period will be computed on the basis of twelve 30-day
months and a 360-day year and, for any period shorter than a full [quarterly] interest period, will
be computed on the basis of the actual number of days elapsed in such period.]

     [(b) The provisions of Section 204(a) notwithstanding, the Company shall have the right at any
time, on one or more occasions so long as an Event of Default with respect to the           
has not occurred and is not continuing, to extend any interest payment period on the           
for a period (a “Deferral Period”) not to exceed 20 consecutive quarterly interest payment
periods; provided that the date on which such Deferral Period ends must be an Interest Payment Date
and must be no later than            or any date on which any
           are fixed for redemption. The quarterly interest payments on the            so deferred
will continue to accrue with interest thereon at the rate of interest of the           
during such Deferral Period. On the Interest Payment Date at the end of the Deferral Period, the
Company shall pay all interest then accrued and unpaid, which shall be compounded quarterly at the
rate of interest on the (except to the extent prohibited by law) to the date of payment, to the
persons in whose names the            are registered on the Record Date for such Deferral
Period. The Company shall give the Holders of the            notice of its election to
defer interest payments or to extend the Deferral Period ten Business Days prior to the earlier of
(1) the next scheduled quarterly payment date and (2) the date the Company is required to give
notice of the record date of such related interest payment to the New York Stock Exchange or other
applicable self-regulatory organization or to the Holders of the            , but in any
event not less than two Business Days prior to such record date. During the Deferral Period the
Company shall not declare or pay any dividend on or redeem, purchase, acquire or make a liquidation
payment with respect to, any of its Capital Stock or make any guaranty payment with respect to the
foregoing, other than redemptions of any series of Capital Stock of the Company pursuant to the
terms of any sinking fund provisions with respect thereto. During any Deferral Period, the Company
may not (i) make any distributions, loans or guarantees for the benefit of, (ii) purchase, defease,
redeem or otherwise acquire or retire for value any securities of or (iii) make any other
investment in, any person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company, for the purpose of, or to enable the payment of, directly
or indirectly, dividends on any equity securities of DTE Energy Company and its successors or
assigns. During any Deferral Period, the Company may continue to extend the interest payment
period by extending the Deferral Period, on one or more occasions, by notice given as aforesaid in
this paragraph (b), provided that such Deferral Period, as so extended, must end on an Interest
Payment Date and in no event shall the aggregate Deferral Period, as extended, exceed 20
consecutive quarterly interest payment periods or extend beyond            or
any date on which            are fixed for redemption. No interest shall be due and
payable during a Deferral Period except at the end thereof.]

     SECTION 205. Optional Redemption of            . Other than in accordance with Section 206
below, the            shall not be redeemable prior to            . Thereafter,
upon notice given by mailing the same, postage prepaid, at least 30 days and not more than 60 days
prior to the date fixed for redemption, any or all of the            may be redeemed by
the Company, at its option, at any time and from time to time, at a redemption price equal to [100%
of the principal amount of the            ] [other redemption price] to be redeemed plus
accrued and unpaid interest thereon to the date fixed for redemption.

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     [SECTION 206. Tax Event Redemption of            . If a Tax Event has occurred and is
continuing, the Company has the right, within 90 days following the occurrence of such Tax Event,
to redeem the            , in whole but not in part, at a redemption price equal to the
aggregate principal amount of the            plus accrued and unpaid interest to the
date of redemption.]

     SECTION 207. Form of            . Attached hereto as Exhibit A is a form of the           .

[ARTICLE THREE

ADDITIONAL EVENTS OF DEFAULT AND COVENANTS

     SECTION 301. Inapplicability of Certain Events of Default. The Events of Default set forth
in Sections 601(4) and 601(8) of the Original Indenture shall not apply to the            . The
omission by the Company to pay interest on the            during a Deferral Period as
permitted by Section 204 shall not constitute an Event of Default under Section 601 (1) of the
Original Indenture.]

[ARTICLE FOUR

SUBORDINATION OF                                        

     SECTION 401. Subordinate to Senior Indebtedness. The Company for itself, its successors and
assigns, covenants and agrees, and each Holder of            issued, whether upon
original issue or upon transfer or assignment thereof, by its acceptance thereof likewise covenants
and agrees, that the payment of principal of and interest on each and all of the           
is hereby expressly subordinated, to the extent and in the manner hereinafter in this Article set
forth, in right of payment to the prior payment in full of all Existing and future Senior
Indebtedness of the Company.

     SECTION 402. Payments to Securityholders. (a) Upon (i) any acceleration of the principal
amount due on the            or (ii) any payment or distribution of assets of the Company
of any kind or character, whether in cash, property or securities, to creditors upon any
dissolution or winding-up or total or partial liquidation or reorganization of the Company, whether
voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings, all
principal, premium, if any, and interest, if any, due upon all Senior Indebtedness shall first be
paid in full, or payment thereof provided for in money or money’s worth in accordance with its
terms, before any payment is made on account of the principal of or interest on the indebtedness
evidenced by the            , and upon any such dissolution or winding-up or liquidation
or reorganization any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Holders of the            under the
terms of this            Supplemental Indenture would be entitled, except for the
provisions hereof, shall (subject to the power of a court of competent jurisdiction to make other
equitable provision reflecting the rights conferred by the provisions hereof upon the Senior
Indebtedness and the holders thereof with respect to the            and the Holders
thereof by a lawful plan of reorganization under applicable bankruptcy law), be paid by the Company
or any receiver, trustee in bankruptcy, liquidating trustee, agent or other person making such
payment or

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distribution, or by the Holders of the            if received by them,
directly to the holders of Senior Indebtedness (pro rata to each such holder on the basis of the
respective amounts of Senior Indebtedness held by such holder) or their representatives, to the
extent necessary to pay all Senior Indebtedness (including interest thereon) in full, in money or
money’s worth, in
accordance with its terms, after giving effect to any concurrent payment or distribution to or
for the holders of Senior Indebtedness, before any payment or distribution is made to the Holders
of the indebtedness evidenced by the            . The consolidation of the Company with, or a
merger of the Company into, another Person or the liquidation or dissolution of the Company
following the conveyance or transfer of its property as an entirety, or substantially as an
entirety, to another Person upon the terms and conditions provided in Section 901 of the Original
Indenture shall not be deemed a dissolution, winding-up, liquidation or reorganization for the
purposes of this Section 402(a).

     (b) In the event that any payment or distribution of assets of the Company of any kind or
character not permitted by Section 402(a), whether in cash, property or securities, shall be
received by the Trustee or the Holders of            before all Senior Indebtedness is
paid in full, or provision made for such payment, in accordance with its terms, upon written notice
to the Trustee or, as the case may be, such Holder, such payment or distribution shall be held in
trust for the benefit of, and shall be paid over or delivered to, the holders of such Senior
Indebtedness or their representative or representatives, or to the Trustee or trustees under any
indenture pursuant to which any instruments evidencing any of such Senior Indebtedness may have
been issued, as their respective interests may appear, for application to the payment of all Senior
Indebtedness remaining unpaid to the extent necessary to pay all such Senior Indebtedness in full
in accordance with its terms, after giving effect to any concurrent payment or distribution to the
holders of such Senior Indebtedness. Nothing in this Article shall apply to claims of, or payments
to, the Trustee under or pursuant to Section 706 of the Original Indenture. In addition, nothing
in this Article shall prevent the Company from making or the Trustee from receiving or applying any
payment in connection with the redemption of the if the first publication of notice of such
redemption (whether by mail or otherwise in accordance with this           
Supplemental Indenture) has been made, and the Trustee has received such payment from the Company,
prior to the occurrence of any of the contingencies specified in this Section 402.

     (c) No payment on account of principal of or interest on the            shall be
made unless full payment of amounts then due for principal, premium, if any, sinking funds and
interest on any Senior Indebtedness has been made or duly provided for in money or money’s worth in
accordance with the terms of such Senior Indebtedness. No payment on account of principal or
interest on the shall be made if, at the time of such payment or immediately after giving effect
thereto, (i) there shall exist a default in the payment of principal, premium, if any, sinking fund
or interest with respect to any Senior Indebtedness, or (ii) there shall have occurred an event of
default (other than a default in the payment of principal, premium, if any, sinking funds or
interest) with respect to any Senior Indebtedness, as defined therein or in the instrument under
which the same is outstanding, permitting the holders thereof to accelerate the maturity thereof
and upon written notice thereof given to the Trustee, with a copy to the Company (the delivery of
which shall not affect the validity of the notice to the Trustee), and such event of default shall
not have been cured or waived or shall not have ceased to exist; provided, however, that if the
holders of the Senior Indebtedness to which the default relates have not declared such Senior
Indebtedness to be immediately due and payable within 180 days after the occurrence of such default
(or have declared such Senior Indebtedness to be immediately due and payable and within such period
have rescinded such declaration of acceleration), then the Company shall

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resume making any and all
required payments in respect of the           (including any missed payments). Only one
payment blockage period under the immediately preceding sentence may be commenced within any
consecutive 365-day period with respect to the            of any series. No event of
default which existed or was continuing on the date of the
commencement of any 180-day payment blockage period with respect to the Senior Indebtedness
initiating such payment blockage period shall be, or be made, the basis for the commencement of a
second payment blockage period by a registered holder or representative of such Senior Indebtedness
whether or not within a period of 365 consecutive days unless such event of default shall have been
cured or waived for a period of not less than 90 consecutive days (and, in the case of any such
waiver, no payment shall be made by the Company to the holders of Senior Indebtedness in connection
with such waiver other than amounts due pursuant to the terms of the Senior Indebtedness as in
effect at the time of such default).

     SECTION 403. Subrogation to Rights of Holders of Senior Indebtedness. From and after the
payment in full of all Senior Indebtedness, the Holders of the            (together with
the holders of any other indebtedness of the Company which is subordinate in right of payment to
the payment in full of all Senior Indebtedness, which is not subordinate in right of payment to the
          and which by its terms grants such right of subrogation to the holder thereof)
shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or
distributions of assets or securities of the Company applicable to the Senior Indebtedness until
the            shall be paid in full, and, for the purposes of such subrogation, no such
payments or distributions to the holders of Senior Indebtedness of assets or securities, which
otherwise would have been payable or distributable to Holders of the            , shall,
as between the Company, its creditors other than the holders of Senior Indebtedness, and the
Holders of the            , be deemed to be a payment by the Company to or on account of
the Senior Indebtedness, it being understood that the provisions of this Article are and are
intended solely for the purpose of defining the relative rights of the Holders of the           
        , on the one hand, and the holders of the Senior Indebtedness, on the other hand, and nothing
contained herein is intended to or shall impair as between the Company, its creditors other than
the holders of Senior Indebtedness, and the Holders of the            , the obligation of
the Company, which is unconditional and absolute, to pay to the Holders of the           
the principal of and interest on the            as and when the same shall become due and
payable in accordance with their terms, or to affect the relative rights of the Holders of the           
and creditors of the Company other than the holders of the Senior Indebtedness, nor
shall anything herein or therein prevent the Trustee or the Holders of                from
exercising all remedies otherwise permitted by applicable law upon default hereunder with respect
to the            subject to the rights of the holders of Senior Indebtedness, under
Section 402, to receive cash, property or securities of the Company otherwise payable or
deliverable to the Trustee or the Holders of the            or to a representative of
such Holders, on their behalf.

     Upon any distribution or payment in connection with any proceedings or sale referred to in
Section 402(a), the Trustee and each Holder of the then Outstanding, shall be entitled to rely upon
a certificate of the liquidating trustee or agent or other Person making any distribution or
payment to the Trustee or such Holder for the purpose of ascertaining the holders of Senior
Indebtedness entitled to participate in such payment or distribution, the amount of such Senior
Indebtedness or the amount payable thereon, the amount or amounts paid or distributed thereon and
all other facts pertinent thereto or to this Article.

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     SECTION 404. No Impairment of Subordination. Nothing contained in this Article or elsewhere
in this            Supplemental Indenture or the            shall prevent
at any time the Company from making payments at any time of principal of or interest on the
        , except under the conditions described in Section 402 or during the pendency of any
proceedings or sale therein referred to.

     SECTION 405. Trustee to Effectuate Subordination. Each Holder of by his acceptance thereof,
whether upon original issue or upon transfer or assignment, authorizes and directs the Trustee on
his behalf to take such action as may be necessary or appropriate to effectuate the subordination
provisions in this Article and appoints the Trustee his attorney-in-fact for any and all such
purposes.

     No rights of any present or future holder of any Senior Indebtedness to enforce subordination
as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to
act on the part of the Trustee or any Holder of the            then Outstanding, or by
any act or failure to act, in good faith, by any such holder, or by any noncompliance by any such
holder, with the terms, provisions and covenants of this Supplemental Indenture, regardless of any
knowledge thereof which any such holder may have or otherwise be charged with.

     Without in any way limiting the generality of the foregoing paragraph, the holders of Senior
Indebtedness may, at any time and from time to time, without the consent of or notice to the
Holders of the            , without incurring responsibility to the Holders of the           
and without impairing or releasing the subordination provided in this Article or the
obligations of the Holders of the            to the holders of Senior Indebtedness, do
any one or more of the following: (i) change the manner, place or terms of payment of, or renew or
alter, Senior Indebtedness, or otherwise amend or supplement in any manner Senior Indebtedness or
any instrument evidencing the same or any agreement under which Senior Indebtedness is outstanding;
(ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise
securing Senior Indebtedness; (iii) release any Person liable in any manner for the collection of
Senior Indebtedness; and (iv) exercise or refrain from exercising any rights against the Company
and any other Person.

     SECTION 406. Notice to Trustee. The Company shall give prompt written notice to the Trustee
in the form of an Officers’ Certificate of any fact known to the Company which would prohibit the
making of any payment of money to or by the Trustee in respect of the            pursuant
to the provisions of this Article. Notwithstanding the provisions of this Article or any other
provisions of this            Supplemental Indenture, the Trustee shall not be
charged with knowledge of the existence of any facts which would prohibit the making of any payment
to or by the Trustee in respect of the            pursuant to the provisions of this
Article, unless and until the Trustee shall have received at its Corporate Trust Office written
notice thereof from the Company or a holder or holders of Senior Indebtedness or from any trustee
therefor at least two Business Days prior to such payment date; and, prior to the receipt of any
such written notice, the Trustee, shall be entitled in all respects to assume that no such facts
exist.

     The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person
representing himself to be a holder of Senior Indebtedness (or a trustee on behalf of such holder)
to establish that such notice has been given by a holder of Senior Indebtedness or a trustee on
behalf of any such holder. In the event that the Trustee determines in good faith that further
evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to

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participate in any payment or distribution pursuant to this Article, the Trustee may request such
Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior
Indebtedness held by such Person, the extent to which such Person is entitled to participate in
such payment or distribution and any other facts pertinent to the rights of such Person under the
Article, and, if such evidence is not furnished, the Trustee may defer any payment to such
Person pending judicial determination as to the right of such Person to receive such payment.

     SECTION 407. Reliance on Certificate of Liquidating Agent. Upon any payment or distribution
referred to in this Article, the Trustee and the Holders of the            shall be
entitled to rely upon any order or decree entered by any court of competent jurisdiction in which a
dissolution, winding up or total or partial liquidation or reorganization of the Company is
pending, or a certificate of the trustee in bankruptcy, liquidating trustee, custodian, receiver,
assignee for the benefit of creditors, agent or other Person making such payment or distribution,
delivered to the Trustee or to the Holders of the            , for the purpose of
ascertaining the Persons entitled to participate in such distribution, the holders of the Senior
Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the
amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this
Article.

     SECTION 408. Trustee Not Fiduciary for Holders of Senior Indebtedness. The Trustee shall not
be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and shall not be liable
to any such holders if it shall in good faith mistakenly pay over or distribute to Holders of the
           of any series or to the Company or to any other Person cash, property or securities to which any holders of Senior Indebtedness shall be entitled by virtue of this Article
or otherwise.

     SECTION 409. Rights of Trustee as Holder of Senior Indebtedness. The Trustee in its
individual capacity shall be entitled to all the rights set forth in this Article with respect to
any Senior Indebtedness which may at any time be held by it, to the same extent as any other holder
of Senior Indebtedness, and nothing in this Supplemental Indenture shall deprive the Trustee of any
of its rights as such holder.

     SECTION 410. Article Applicable to Paying Agent. In case at any time any Paying Agent other
than the Trustee shall have been appointed by the Company and be then acting hereunder, the term
“Trustee” as used in this Article shall in such case (unless the context shall otherwise require)
be construed as extending to and including such Paying Agent within its meaning as fully for all
intents and purposes as if such Paying Agent were named in this Article in addition to or in place
of the Trustee; provided, however, that this Section shall not apply to the Company or any
Affiliate of the Company if it or such Affiliate acts as Paying Agent.]

ARTICLE FIVE

MISCELLANEOUS PROVISIONS

     The Trustee makes no undertaking or representations in respect of, and shall not be
responsible in any manner whatsoever for and in respect of, the validity or sufficiency of this           
Supplemental Indenture or the proper authorization or the due execution hereof by
the Company or for or in respect of the recitals and statements contained herein, all of which
recitals and statements are made solely by the Company.

10

 

     Except as expressly amended hereby, the Original Indenture shall continue in full force and
effect in accordance with the provisions thereof and the Original Indenture is in all respects
hereby ratified and confirmed. This            Supplemental Indenture and all its
provisions
shall be deemed a part of the Original Indenture in the manner and to the extent herein and
therein provided.

     This            Supplemental Indenture shall be governed by, and construed in
accordance with, the laws of the State of New York.

     This            Supplemental Indenture may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.

     IN WITNESS WHEREOF, the parties hereto have caused this           
Supplemental Indenture to be duly executed, and their respective corporate seals to be hereunto
affixed and attested, all as of the day and year first above written.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	THE DETROIT EDISON COMPANY	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

Name:
	 	 
	 

	 	 	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 	 	 
	ATTEST:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A., as Trustee	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 
	 

	 	 	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 	 	 
	ATTEST:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 	 	 

11

 

EXHIBIT A

     THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY. UNLESS AND UNTIL IT IS
EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY (“DTC”), TO A NOMINEE OF DTC OR BY DTC OR ANY
SUCH NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR. UNLESS THIS NOTE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE &
CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL, INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

	 	 	 
	NO. R-___
	 	$                    

THE DETROIT EDISON COMPANY

Series            %            due

ISSUE PRICE                      ISSUE DATE                      CUSIP NO.

     THE DETROIT EDISON COMPANY, a corporation duly organized and existing under the laws of the
State of Michigan (herein referred to as the “Company,” which term includes any successor
corporation under the Indenture hereinafter referred to), for value received, hereby promises to
pay to Cede & Co., or registered assigns, the principal sum of                     
($                    
)
on            and to pay interest at the rate of            % per
annum on said principal sum from the date of issuance until the principal of this Security (“Note”)
becomes due and payable, and on any overdue principal and (to the extent that payment of such
interest is enforceable under applicable law) on any overdue installment of interest at the same
rate per annum during such overdue period. Interest on this Note will be payable
[(subject to deferral as set forth herein)] in arrears on            and
          of each year (each such date, an “Interest Payment Date”), commencing
          .

     [The amount of interest payable for any period shall be computed on the basis of twelve 30-day
months and a 360-day year and, for any period shorter than a full            interest
period, will be computed on the basis of the actual number of days elapsed in such period.] In the
event that any date on which interest is payable on this Note is not a Business Day, then payment
of the amount payable on such date will be made on the next succeeding day which is a Business Day
(and without any interest or other payment in respect of any such delay)[, except that, if such
Business Day is in the next succeeding calendar year, such payment shall be made on the

A-1

 

immediately
preceding Business Day without reduction in the amount due to such early payment
(and in which case the relevant Record Date shall be on the Business Day immediately preceding
such Interest Payment Date)], in each case with the same force and effect as if made on such date[,
subject to certain rights of deferral described below]. A “Business Day” shall mean each Monday,
Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions located in
the State of Michigan or in the state in which the principal corporate trust office of the Trustee
is located are authorized or obligated by or pursuant to law or executive order to close. The
interest installment so payable, and punctually paid or duly provided for, on any Interest Payment
Date (other than interest payable on redemption or maturity) will, as provided in the Indenture (as
defined herein), be paid to the person in whose name this Note (or one or more Predecessor Notes,
as defined in said Indenture) is registered at the close of business on the relevant record date
for such interest installment, which shall be            [Business] Day(s) prior to the relevant
Interest Payment Date [or, in the case of a Deferral Period (as defined in the Indenture), one
Business Day prior to Interest Payment Date for such Deferral Period] (each a “Record Date”).
Interest payable on redemption or maturity shall be payable to the person to whom the principal is
paid. Any such interest installment not punctually paid or duly provided for shall forthwith cease
to be payable to the registered holders on such Record Date, and may be paid to the person in whose
name this Note (or one or more Predecessor Notes) is registered at the close of business on a
special record date to be fixed by the Trustee for the payment of such defaulted interest, notice
whereof shall be given to the registered holders of this series of Notes not less than 10 days
prior to such special record date, or may be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Notes may be listed, and
upon such notice as may be required by such exchange, all as more fully provided in the Indenture.
The principal of and the interest on this Note shall be payable at the office or agency of the
Company maintained for that purpose in the Borough of Manhattan, the City of New York, in any coin
or currency of the United States of America which at the time of payment is legal tender for
payment of public and private debts; provided, however, that payment of interest may be made at the
option of the Company by check mailed to the registered holder at the close of business on the
Record Date at such address as shall appear in the Security Register.

     [Payment of the principal of and interest on this Note is, to the extent provided in the
Indenture, subordinated and subject in right of payment to the prior payment in full of all
existing and future Senior Indebtedness, as defined in the Indenture, of the Company and this Note
is issued subject to the provisions of the Indenture with respect thereto. Each registered holder
of this Note, by accepting the same, (a) agrees to and shall be bound by such provisions, (b)
authorizes and directs the Trustee on his or her behalf to take such action as may be necessary or
appropriate to acknowledge or effectuate the subordination so provided and (c) appoints the Trustee
as his or her attorney-in-fact for any and all such purposes. Each registered holder hereof, by
his or her acceptance hereof, hereby waives all notice of the acceptance of the subordination
provisions contained herein and in the Indenture by each holder of Senior Indebtedness, whether now
outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions.]

     This Note shall not be entitled to any benefit under the Indenture hereinafter referred to, be
valid or become obligatory for any purpose until the Certificate of Authentication hereon shall
have been signed by or on behalf of the Trustee.

A-2

 

     Unless the Certificate of Authentication hereon has been executed by the Trustee or a duly
appointed Authentication Agent referred to herein, this Note shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose.

     This Note is one of a duly authorized series of Notes of the Company (herein sometimes
referred to as the “Notes”), specified in the Indenture, all issued or to be issued in one or more
series under and pursuant to a Collateral Trust Indenture dated as of June 30, 1993 (the “Original
Indenture”) duly executed and delivered between the Company and The Bank of New York Mellon Trust
Company, N.A., a national banking association, as successor Trustee (herein referred to as the
“Trustee”), as supplemented (through and including a            Supplemental
Indenture dated as of            (together with the Original Indenture, the
“Indenture”) between the Company and the Trustee, to which Indenture and all indentures
supplemental thereto reference is hereby made for a description of the respective rights,
limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company
and the registered holders of the Notes and of the terms upon which the Notes are, and are to be,
authenticated and delivered. By the terms of the Indenture, the Notes are issuable in series which
may vary as to amount, date of maturity, rate of interest and in other respects as in the Indenture
provided. This series of Notes is limited in aggregate principal amount as specified in said
          Supplemental Indenture.

     Notwithstanding the provisions of the Original Indenture, this Note shall be without benefit
of any security [and shall be subordinated to Senior Indebtedness (as defined in the Indenture)
contemplated in Article Four of said            Supplemental Indenture]. This Note
shall not have the benefit of the provisions of Article Four of the Original Indenture and shall
not have the benefit of, or be subject to, the other related provisions of the Original Indenture
relating to the grant of security, including (for avoidance of doubt and not for purposes of
limitation) the Granting Clause, the definitions of “Deliverable Mortgage Bonds,” “Deliverable
Securities,” “Designated Mortgage Bonds,” “Grant,” “Mortgage,” “Mortgage Bonds,” “Mortgage
Trustee,” “Previously Delivered Mortgage Bonds,” and “Trust Estate,” Section 301(20), Sections 301
(a) (v), (ix), (x) and (xi), Sections 301 (b) (ii) and (iii), and Section 301 (d). [In addition,
the Events of Default set forth in Sections 601(4) and 601 (8) of the Original Indenture shall not
apply to this Note. The omission by the Company to pay interest on this Note during a Deferral
Period as permitted by Section 204 of said            Supplemental Indenture shall
not constitute an Event of Default under Section 601(l) of the Original Indenture.]

     [The Company shall have the right to redeem this Note at the option of the Company, without
premium or penalty, in whole or in part, at any time on or after            and prior
to maturity at a redemption price equal to            % of the principal amount redeemed plus the
accrued and unpaid interest thereon to the date fixed for redemption. Any redemption pursuant to
this paragraph will be made upon not less than 30, nor more than 60 days notice. If the Notes are
only partially redeemed by the Company, the Notes will be redeemed pro rata or by lot or by any
other method utilized by the Trustee; provided that if, at the time of redemption, the Notes are
registered as a Global Note, the Depositary shall determine by lot the principal amount of such
Notes held by each Note holder to be redeemed.]

     [If a Tax Event (as hereinafter defined) has occurred and is continuing, the Company shall
have the right, within 90 days following the occurrence of such Tax Event, to redeem the Notes, in
whole but not in part, at a redemption price equal to the aggregate principal amount of the Notes
plus accrued and unpaid interest to the date of redemption. “Tax Event” means that the

A-3

 

Company
shall have received an opinion of counsel (which may be counsel to the Company or an affiliate but
not an employee thereof) experienced in such matters to the effect that, as a result of any
amendment to, or change (including any announced prospective change) in, the laws (or any
regulations thereunder) of the United States or any political subdivision or taxing authority
thereof or therein affecting taxation, or as a result of any official administrative pronouncement
or judicial decision interpreting or applying such laws or regulations, which amendment or change
is effective or such pronouncement or decision is announced on or after the date of original
issuance of the Notes, there is more than an insubstantial risk that interest payable by the
Company on the Notes is not, or will not be, deductible by the Company for federal income tax
purposes.]

     [In the event of redemption of this Note in part only, a new Note or Notes of this series for
the unredeemed portion hereof will be issued in the name of the registered holder hereof upon the
cancellation hereof.]

     In case an Event of Default, as defined in the Indenture, shall have occurred and be
continuing, the principal of all of the Notes may be declared, and upon such declaration shall
become, due and payable, in the manner, with the effect and subject to the conditions provided in
the Indenture.

     The Indenture contains provisions for defeasance at any time of the entire indebtedness of
this Note upon compliance by the Company with certain conditions set forth therein.

     The Indenture contains provisions permitting the Company and the Trustee, with the consent of
the registered holders of not less than a majority in aggregate principal amount of the outstanding
Notes of each series affected at the time, as defined in the Indenture, to execute supplemental
indentures for the purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner
the rights of the registered holders of the Notes; provided, however, that no such supplemental
indenture shall (i) extend the fixed maturity of any Notes of any series, or reduce the principal
amount thereof, or reduce the rate of or extend the time of payment of interest thereon, or reduce
any premium payable upon the redemption thereof, without the consent of the registered holder of
each Note so affected or (ii) reduce the aforesaid percentage of Notes, the registered holders of
which are required to consent to any such supplemental indenture, without the consent of the
registered holders of each Note then outstanding and affected thereby. The Indenture also contains
provisions permitting (i) the registered holders of at least 66 2/3% in aggregate principal amount
of the Notes of all series at the time outstanding affected thereby, on behalf of the registered
holders of the Notes of such series, to waive compliance by the Company with certain provisions of
the Indenture and (ii) the registered holders of a majority in aggregate principal amount of the
Notes of all series at the time outstanding affected thereby, on behalf of the registered holders
of the Notes of such series, to waive certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the registered bolder of this Note (unless revoked as
provided in the Indenture) shall be conclusive and binding upon such registered holder and upon all
future registered holders and owners of this Note and of any Note issued in exchange hereof or in
place hereof (whether by registration of transfer or otherwise), irrespective of whether or not any
notation of such consent or waiver is made upon this Note.

     No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the
principal of and interest on this Note at the time and place and at the rate and in the coin or
currency herein prescribed.

A-4

 

     [The Company shall have the right at any time, on one or more occasions, so long as an Event
of Default has not occurred and is not continuing under the Indenture with respect to the Notes, to
extend any interest payment period on this Note to a period not to exceed 20 consecutive quarterly
interest payment periods and, as a consequence, the quarterly interest payment on the Notes would
be deferred (but would continue to accrue with interest thereon compounded quarterly at the rate of
interest on the Notes, except as provided by law) during any such Deferral Period (as defined in
the Indenture). At the end of each Deferral Period, the Company shall pay all interest then
accrued and unpaid (compounded quarterly, at the rate of interest on the Notes, except to the
extent provided by law) to the persons in whose name the Notes are registered on the Record Date
for such Deferral Period. In the event the Company exercises this right, the Company shall not
declare or pay any dividends on, or redeem, purchase, acquire or make a liquidation payment with
respect to, any of its Capital Stock (as defined in the Indenture) or make any guarantee payments
with respect to the foregoing during such Deferral Period, other than redemptions of any series of
Capital Stock of the Company pursuant to the terms of any sinking fund provisions with respect
thereto. In addition, during any Deferral Period, the Company may not (i) make any distributions,
loans or guarantees for the benefit of, (ii) purchase, defease, redeem or otherwise acquire or
retire for value any securities of or (iii) make any other investment in any person directly or
indirectly controlling or controlled by or under direct or indirect common control with the
Company, for the purpose of, or to enable the payment of, directly or indirectly, dividends on any
equity security of DTE Energy Company and its successors or assigns. During any Deferral Period,
the Company may continue to extend the interest payment period by extending the Deferral Period,
provided that the aggregate Deferral Period, as extended, must end on an Interest Payment Date and
in no event shall the aggregate Deferral Period exceed 20 consecutive quarterly interest payment
periods or extend beyond the maturity of the Notes or any date on which any of the Notes are fixed
for redemption. No interest shall be due and payable on the Notes during a Deferral Period except
at the end thereof. The Company shall give the registered holders of Notes notice of its election
to defer interest payments or to extend the Deferral Period ten Business Days prior to the earlier
of (i) the next scheduled quarterly payment date or (ii) the date the Company is required to give
notice of the record date of such related interest payment to the New York Stock Exchange or other
applicable self-regulatory organization or to the holders of the Notes, but in any event not less
than two Business Days prior to such record date.]

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note is registrable in the Security Register of the Company, upon surrender of
this Note for registration of transfer at the office or agency of the Company in any place where
the principal of and any interest on this Note are payable or at such other offices or agencies as
the Company may designate, duly endorsed by or accompanied by a written instrument or instruments
of transfer in form satisfactory to the Company and the Security Registrar or any transfer agent
duly executed by the registered holder hereof or his or her attorney duly authorized in writing,
and thereupon one or more new Notes of this series and of like tenor, of authorized denominations
and for the same aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be made for any such transfer, but the Company may require
payment of a sum sufficient to cover any tax or other governmental charge payable in relation
thereto.

A-5

 

     Prior to due presentment for registration of transfer of this Note, the Company, the Trustee,
any paying agent and any Note Registrar may deem and treat the registered holder hereof as the
absolute owner hereof (whether or not this Note shall be overdue and notwithstanding any
notice of ownership or writing hereon made by anyone other than the Note Registrar) for the
purpose of receiving payment of or on account of the principal hereof and interest due hereon and
for all other purposes, and neither the Company nor the Trustee nor any paying agent nor any Note
Registrar shall be affected by any notice to the contrary.

     The Notes of this series are issuable only in fully registered form without coupons in
denominations of $            and any integral multiple thereof. This Global Note is
exchangeable for Notes in definitive form only under certain limited circumstances set forth in the
Indenture. Notes of this series so issued are issuable only in registered form without coupons in
denominations of $            and any integral multiple thereof. As provided in the
Indenture and subject to certain limitations therein set forth, Notes of this series are
exchangeable for a like aggregate principal amount of Notes of this series of a different
authorized denomination, as requested by the registered holder surrendering the same.

     As set forth in, and subject to the provisions of, the Indenture, no registered owner of any
Note will have any right to institute any proceeding with respect to the Indenture or for any
remedy thereunder, unless (i) such registered owner shall have previously given to the Trustee
written notice of a continuing Event of Default with respect to the Notes of this series, (ii) the
registered owners of not less than 25% in principal amount of the outstanding Notes of this series
shall have made written request, and offered reasonable indemnity, to the Trustee to institute such
proceeding as trustee, (iii) the Trustee shall have failed to institute such proceeding within 60
days and (iv) the Trustee shall not have received from the registered owners of a majority in
principal amount of the outstanding Notes of this series a direction inconsistent with such request
within such 60-day period; provided, however, that such limitations do not apply to a suit
instituted by the registered owner hereof for the enforcement of payment of the principal of or any
interest on this Note on or after the respective due dates expressed herein, subject to deferral as
set forth herein.

     All terms used in this Note which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

A-6

 

     IN WITNESS WHEREOF, the Company has caused this Instrument to be executed.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	THE DETROIT EDISON COMPANY	 	 
	 
	 	 	 	 	 	 	 	 
	[Corporate Seal]	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

Name:
	 	 
	 

	 	 	 	 	 	Title:	 	 
	Attest:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 	 	 

A-7

 

CERTIFICATE OF AUTHENTICATION

     This is one of the Notes of the series of Notes described in the within mentioned Indenture.

	 	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A.,
as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Signatory
	 	 
	Date:                    
	 	 	 	 	 	 

A-8

 

	 	 	 	 	 
	FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto	 	 
	 
	 	 	 	 
	 

	 	 

(Please insert Social Security or Other Identifying Number of Assignee)
	 	 
	 
	 	 	 	 
	 

	 	 

(Please print or type name and address, including zip code of assignee)
	 	 

the within Note and all rights thereunder, hereby irrevocably constituting and appointing such
person attorneys to transfer the within Note on the books of the Issuer, with full power of
substitution in the premises.

Dated:                    

NOTICE: The signature of this assignment must correspond with the name as written upon the face of
the within Note in every particular, without alteration or enlargement or any change whatever and
NOTICE: Signature(s) must be guaranteed by a financial institution that is a member of the
Securities Transfer Agents Medallion Program (“STAMP”), the Stock Exchange, Inc. Medallion
Signature Program (“MSP”). When assignment is made by a guardian, trustee, executor or
administrator, an officer of a corporation, or anyone in a representative capacity, proof of his or
her authority to act must accompany this Note.

A-9exv4w37

Exhibit 4.37

 

THE DETROIT EDISON COMPANY

AND

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

TRUSTEE

 

                     SUPPLEMENTAL INDENTURE

DATED AS OF                     

 

SUPPLEMENTING THE COLLATERAL TRUST INDENTURE

DATED AS OF JUNE 30, 1993

PROVIDING FOR

SERIES       % SENIOR NOTES DUE

 

 

 

     SUPPLEMENTAL INDENTURE, dated as of the       day of            , between THE
DETROIT EDISON COMPANY, a corporation organized and existing under the laws of the State of
Michigan (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking
association organized under the laws of the United States of America, having a corporate trust
office in the City of Detroit, Michigan, as successor trustee (the “Trustee”);

     WHEREAS, the Company has heretofore executed and delivered to the Trustee a Collateral Trust
Indenture dated as of June 30, 1993 (the “Original Indenture”), as supplemented, providing for the
issuance by the Company from time to time of its debt securities; and

     WHEREAS, the Company now desires to provide for the issuance of an additional series of its
senior debt securities pursuant to the Original Indenture; and

     WHEREAS, the Company intends hereby to designate a series of debt securities which shall have
the benefit of the provisions of Article Four of the Original Indenture and the other related
provisions of the Original Indenture relating to the grant of security, subject to the release
provisions provided for herein, and which shall have the terms and variations from the provisions
of the Original Indenture as set forth herein; and

     WHEREAS, the Company, in the exercise of the power and authority conferred upon and reserved
to it under the provisions of the Original Indenture, including Section 1001 thereof, and pursuant
to appropriate resolutions of the Board of Directors, has duly determined to make, execute and
deliver to the Trustee this            Supplemental Indenture to the Original
Indenture as permitted by Sections 201 and 301 of the Original Indenture in order to establish the
form or terms of, and to provide for the creation and issue of, a series of its debt securities
under the Original Indenture, which shall be known as the       Series       % Senior Notes
due       .

     WHEREAS, all things necessary to make such debt securities, when executed by the Company and
authenticated and delivered by the Trustee or any Authenticating Agent and issued upon the terms
and subject to the conditions hereinafter and in the Original Indenture set forth against payment
therefor, the valid, binding and legal obligations of the Company and to make this           
Supplemental Indenture a valid, binding and legal agreement of the Company, have been done;

     NOW, THEREFORE, THIS            SUPPLEMENTAL INDENTURE WITNESSETH that, in order
to establish the terms of a series of debt securities, and for and in consideration of the premises
and of the covenants contained in the Original Indenture and in this      
Supplemental Indenture and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, it is mutually covenanted and agreed as follows:

1

 

ARTICLE ONE

DEFINITIONS AND OTHER

PROVISIONS OF GENERAL APPLICATION

     SECTION 1.01. Definitions. Each capitalized term that is used herein and is defined in the
Original Indenture shall have the meaning specified in the Original Indenture unless such term is
otherwise defined herein. The following terms shall have the respective meanings set forth
below:

     “Business Day” means any day other than a day on which banking institutions in the State of
New York or the State of Michigan are authorized or obligated pursuant to law or executive order to
close.

     “Capitalization” means the total of all the following items appearing on, or included in, the
consolidated balance sheet of the Company: (i) liabilities for indebtedness maturing more than 12
months from the date of determination; and (ii) common stock, common stock expense, accumulated
other comprehensive income or loss, preferred stock, preference stock, premium on capital stock and
retained earnings (however the foregoing may be designated), less, to the extent not otherwise
deducted, the cost of shares of capital stock of the Company held in its treasury, if any. Subject
to the foregoing, Capitalization shall be determined in accordance with generally accepted
accounting principles and practices applicable to the type of business in which the Company is
engaged and may be determined as of a date not more than 60 days prior to the happening of the
event for which the determination is being made. In connection with such determination, the
Company shall certify to the Trustee that it has, prior to making its final determination,
consulted with the independent accountants regularly retained by the Company.

     “Debt” means any outstanding debt for money borrowed evidenced by notes, debentures, bonds or
other securities, or guarantees of any debt.

     “Net Tangible Assets” means the amount shown as total assets on the consolidated balance sheet
of the Company, less (i) intangible assets including, but without limitation, such items as
goodwill, trademarks, trade names, patents, unamortized debt discount and expense and other
regulatory assets carried as an asset on the Company’s consolidated balance sheet, and (ii)
appropriate adjustments, if any, on account of minority interests. Net Tangible Assets shall be
determined in accordance with generally accepted accounting principles and practices applicable to
the type of business in which the Company is engaged and may be determined as of a date not more
than 60 days prior to the happening of the event for which such determination is being made. In
connection with such determination, the Company shall certify to the Trustee that it has, prior to
making its final determination, consulted with the independent accountants regularly retained by
the Company.

     “Original Issue Date” means .

     “Pledged Bonds” means the related series of Bonds and any other Mortgage Bonds issued to
secure Securities subject to the release provisions provided herein or in any other supplemental
indenture to the Original Indenture.

     “Release Date” means the date as of which all Mortgage Bonds, (i) other than the Pledged
Bonds, including the related series of Bonds, and (ii) other than outstanding Mortgage Bonds
(exclusive of Pledged Bonds) which do not in aggregate principal amount exceed the greater of 5% of
the Net Tangible Assets of the Company or 5% of the Capitalization of the Company, have been
retired through payment, redemption or otherwise, provided that no default or Event of Default has
occurred and, at such time, is continuing under the Original Indenture.

2

 

     “Substitute Mortgage” means a mortgage indenture of the Company, other than the Mortgage,
designated by the Company to the Trustee as a Substitute Mortgage pursuant to Section 4.03 hereof.
The lien of the Substitute Mortgage shall have such priority, and be with respect to such property,
as shall be specified by the Company in its sole discretion.

     “Substitute Mortgage Bonds” means any mortgage bonds issued by the Company under a Substitute
Mortgage and delivered to the Trustee pursuant to Section 4.03 hereof or pursuant to the comparable
provision of any other supplemental indenture relating to Securities subject to the release
provisions.

     SECTION 1.02. Section References. Each reference to a particular section set forth in this           
Supplemental Indenture shall, unless the context otherwise requires, refer
to this            Supplemental Indenture.

ARTICLE TWO

TITLE AND TERMS OF THE SECURITIES

     SECTION 2.01. Title of the Securities; Stated Maturity. This           
Supplemental Indenture hereby establishes a series of Securities, which shall be known as the
Company’s “       Series       % Senior Notes due       ” (the “Notes”). For purposes of
the Original Indenture, the Notes shall constitute a single series of Securities. The Stated
Maturity on which the principal of the Notes shall be due and payable will be .

     SECTION 2.02. Certain Variations from the Original Indenture.

     (a) The Notes shall have the benefit of the provisions of Article Four of the Original
Indenture and shall have the benefit of, or be subject to, the other related provisions of the
Original Indenture relating to the grant of security, including (for avoidance of doubt and not for
purposes of limitation) the Granting Clause, the definitions of “Deliverable Mortgage Bonds,”
“Deliverable Securities,” “Designated Mortgage Bonds,” “Grant,” “Mortgage,” “Mortgage Bonds,”
“Mortgage Trustee,” “Previously Delivered Mortgage Bonds,” and “Trust Estate,” Section 301(20),
Sections 301(a)(v), (ix), (x) and (xi), Sections 301(b)(ii) and (iii), Section 301(d), and Sections
601(4) and (8), subject, in each case, to the release provisions provided for in Section 4.02
herein. In addition, on and after the Release Date, unless Substitute Mortgage Bonds are issued to
secure the Notes, the Notes shall have the benefit of the additional covenants set forth in Article
Three hereof.

     (b) Section 503 of the Original Indenture shall apply to the Notes. The following shall be an
additional condition to defeasance of the Notes under Section 503: the Company shall have delivered
to the Trustee an Opinion of Counsel stating that (i) the Company has received from the Internal
Revenue Service a letter ruling, or there has been published by the Internal Revenue Service a
Revenue Ruling, or (ii) since the date of execution of this            Supplemental
Indenture, there has been a change in the applicable U.S. Federal income tax law, in either case to
the effect that, the Holders of such Outstanding Notes appertaining thereto will not recognize
income, gain or loss for U.S. Federal income tax purposes as a result of such defeasance and will
be subject to U.S. Federal income tax on the same amounts, in the same manner and at the same times
as would have been the case if such defeasance had not occurred, and, also, to the effect

3

 

that, after the 123rd day after the date of deposit, all money and other property
as provided pursuant to Section 503 of the Original Indenture (including the proceeds thereof)
deposited or caused to be deposited with the Trustee (or other qualifying trustee) pursuant to
Section 503 of the Original Indenture to be held in trust will not be subject to any case or
proceeding (whether voluntary or involuntary) in respect of the Company under any Federal or State
bankruptcy, insolvency, reorganization or other similar law, or any decree or order for relief in
respect of the Company issued in connection therewith.

     SECTION 2.03. Amount and Denominations; DTC

     (a) The aggregate principal amount of Notes that may be issued under this
Supplemental Indenture is limited to $            (except as provided in
Section 301(2) of the Original Indenture); provided that the Company may, without the consent of
the Holders of the Outstanding Notes, “reopen” the series of the Notes so as to increase the
aggregate principal amount of the Notes Outstanding in compliance with the procedures set forth in
the Original Indenture, including Section 301 and Section 303 thereof, so long as any such
additional Notes have the same terms, conditions and CUSIP number (including, without limitation,
rights to security and to receive accrued and unpaid interest) as the Notes then Outstanding. No
additional Notes may be issued if an Event of Default has occurred with respect to the Notes. The
Notes shall be issuable only in fully registered form and, as permitted by Section 301 and Section
302 of the Original Indenture, in denominations of $1,000 and integral multiples thereof. The
Notes will initially be issued in global form (the “Global Securities”) under a book-entry system,
registered in the name of The Depository Trust Company, as depository (“DTC”), or its nominee,
which is hereby designated as “Depository” under the Indenture.

     (b) If (i) the Depository notifies the Company that it is unwilling or unable to continue as
Depository for such Global Security or if at any time such Depository ceases to be a clearing
agency registered under the Securities Exchange Act of 1934, and, in either such case, the Company
does not appoint a successor Depository within 90 days thereafter, or (ii) there shall have
occurred and be continuing an Event of Default or an event which, with the giving of notice or
lapse of time, or both, would constitute an Event of Default, certificates for the Notes will be
registered and delivered to the Holders of record. Upon receipt of a withdrawal request from the
Company, the Depository will notify its participants of the receipt of a withdrawal request from
the Company, notifying participants that they may utilize the Depository’s withdrawal procedures
if they wish to withdraw their securities from the Depository. To the extent that the book-entry
system is discontinued, or if the Company fails to appoint a successor Depository, certificates
for the Notes will be registered and delivered to the Holders of record.

     SECTION 2.04. Certain Terms of the Notes.

     (a) The Notes shall bear interest at the rate of       % per annum on the principal amount
thereof from the date of original issuance, or from the most recent Interest Payment Date to which
interest has been paid or duly provided for, until the principal of the Notes becomes due and
payable, and on any overdue principal and premium and (to the extent that payment of such interest
is enforceable under applicable law) on any overdue installment of interest at the same rate per
annum during such overdue period. Interest on the Notes will be payable semi-annually in arrears
on            and            of each year (each such date, an “Interest Payment
Date”), commencing            . The amount of interest payable for any period shall
be computed on the basis of a 360-day year and twelve 30-day months.

4

 

     (b) In the event that any Interest Payment Date, redemption date or other date of Maturity of
the Notes is not a Business Day, then payment of the amount payable on such date will be made on
the next succeeding day which is a Business Day (and without any interest or other payment in
respect of any such delay), in each case with the same force and effect as if made on such date.
The interest installment so payable, and punctually paid or duly provided for, on any Interest
Payment Date with respect to any Note will, as provided in the Original Indenture, be paid to the
person in whose name the Note (or one or more Predecessor Securities, as defined in the Original
Indenture) is registered at the close of business on the relevant record date for such interest
installment, which shall be the fifteenth calendar day (whether or not a Business Day) prior to the
relevant Interest Payment Date (the “Regular Record Date”). Any such interest installment not
punctually paid or duly provided for shall forthwith cease to be payable to the registered Holders
on such Regular Record Date, and may either be paid to the person in whose name the Note (or one or
more Predecessor Securities) is registered at the close of business on a Special Record Date to be
fixed by the Trustee for the payment of such defaulted interest, notice whereof shall be given to
the registered Holders of the Notes not less than ten days prior to such Special Record Date, or
may be paid at any time in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Notes may be listed, and upon such notice as may be required by
such exchange, all as more fully provided in the Original Indenture. The principal of, and
premium, if any, and the interest on the Notes shall be payable at the office or agency of the
Company maintained for that purpose in the Borough of Manhattan, the City of New York, in any coin
or currency of the United States of America that at the time of payment is legal tender for payment
of public and private debts; provided, however, that payment of interest may be made at the option
of the Company by check mailed to the registered Holder at the close of business on the Regular
Record Date at such address as shall appear in the Security Register. Notwithstanding the
foregoing, so long as the Notes are Global Securities and are held in book-entry form through the
facilities of the Depository, payments on the Notes will be made to the Depository or its nominee
in accordance with arrangements then in effect between the Trustee and the Depository.

     (c) The Notes are not subject to repayment at the option of the Holders thereof and are not
subject to any sinking fund. As provided in the form of Notes attached hereto as Exhibit A, the
Notes are subject to optional redemption, as a whole or in part, by the Company prior to Stated
Maturity of the principal thereof on the terms set forth therein. Except as modified in the form
of Notes, redemptions shall be effected in accordance with Article Twelve of the Original
Indenture.

     (d) The Notes shall have such other terms and provisions as are set forth in the form of Notes
attached hereto as Exhibit A (which is incorporated by reference in and made a part of this           
Supplemental Indenture as if set forth in full at this place).

     SECTION 2.06. Form of Notes. Attached hereto as Exhibit A is the form of the Notes. If the
Company elects to have the Notes secured by Substitute Mortgage Bonds on and after the Release
Date, the terms of the Notes shall be amended to make appropriate reference to the Substitute
Mortgage and the Substitute Mortgage Bonds; provided, that the consent of Holders shall not be
required in connection with such amendment.

5

 

ARTICLE THREE

RESERVED

ARTICLE FOUR

SECURITY AND RELEASE PROVISIONS

     SECTION 4.01. Security. Subject to Section 4.02 below, as provided in and pursuant to Article
Four of the Original Indenture, the Notes will be secured as to payments of principal, interest and
premium, if any, by a series of Mortgage Bonds (the “General and Refunding Mortgage Bonds,      
Series       ,” the “Bonds,” the “Bonds of the related series” or the “related series of Bonds”) of
the Company to be issued concurrently with the issuance of the Notes under and secured by a
Mortgage and Deed of Trust, dated as of October 1, 1924, between the Company and The Bank of New
York Mellon Trust Company, N.A., as successor trustee (the “Mortgage Trustee”), as amended and
supplemented by various supplemental indentures, including the supplemental indenture, dated as of           
        , creating the Bonds (collectively, the “Mortgage”), pledged by the
Company for the benefit of the Holders of the Notes to the Trustee under this           
Supplemental Indenture. The Bonds shall be issued in an aggregate principal amount equal to
the aggregate principal amount of the Notes.

     SECTION 4.02. Release. Until the Release Date and subject to Article Four of the Original
Indenture, the Bonds of the related series issued and delivered to the Trustee shall serve as
security for any and all obligations of the Company under all Notes from time to time Outstanding,
including, but not limited to (1) the full and prompt payment of the principal and premium, if any,
on the Notes when and as the same shall become due and payable in accordance with the terms and
provisions of the Indenture or the Notes, either at the Stated Maturity thereof, upon acceleration
of the maturity thereof, upon redemption, or otherwise, and (2) the full and prompt payment of any
interest on the Notes when and as the same shall become due and payable in accordance with the
terms and provisions of this Indenture or the Notes including, if and to the extent provided for in
the Notes, interest on overdue installments of principal and (to the extent permitted by law)
interest on overdue installments of interest.

     Each supplemental indenture to the Mortgage pursuant to which any Bonds are issued shall
contain a provision to the effect that any payment by the Company hereunder of principal of or
premium or interest on Notes which shall have been authenticated and delivered in connection with
the issuance and delivery to the Trustee of such Bonds (other than by the application of the
proceeds of a payment in respect of such Bonds) shall to the extent thereof, be deemed to satisfy
and discharge the obligation of the Company, if any, to make a payment of principal, premium or
interest, as the case may be, in respect of such Bonds which is then due.

     Notwithstanding anything in the Original Indenture to the contrary, from and after the Release
Date, the obligation of the Company to make payment with respect to the principal of and premium,
if any, and interest on the Bonds shall be deemed satisfied and discharged as provided in the
supplemental indenture or indentures to the Mortgage creating such Bonds and the Bonds shall cease
to secure in any manner Notes theretofore or subsequently issued; the Trustee shall thereupon
surrender the Bonds to the Mortgage Trustee for cancellation and execute and deliver such proper
instruments of release as may be required. From and after the Release Date, all

6

 

Notes, whether theretofore or subsequently issued, shall be secured by Substitute Mortgage
Bonds pursuant to Section 4.03 below, and any conditions to the issuance of Notes that refer or
relate to Bonds or the Mortgage shall be inapplicable (except as such conditions shall be deemed to
refer to Substitute Mortgage Bonds or a Substitute Mortgage pursuant to Section 4.03 below). From
and after the Release Date, the Company shall not issue any additional Mortgage Bonds, including
Pledged Bonds, under the Mortgage. Notice of the occurrence of the Release Date shall be given by
the Trustee to the Holders of the Notes in the manner provided for in the Original Indenture not
later than 30 days after the Company notifies the Trustee of the occurrence of the Release Date.

     In connection with the establishment of the occurrence of the Release Date, the Trustee shall
be entitled to receive, may presume the correctness of, and shall be fully protected in relying
upon, an Officers’ Certificate designating the Release Date and stating that the conditions to the
occurrence of the Release Date have been satisfied.

     When the obligation of the Company to make payments with respect to the principal of, and
premium, if any, and interest on all or any part of the Bonds shall be satisfied or deemed
satisfied pursuant to the Original Indenture or pursuant to this           
Supplemental Indenture, the Trustee shall, upon written request of the Company, deliver to the
Company without charge therefor all of the Bonds so satisfied or deemed satisfied, together with
such appropriate instruments of transfer or release as may be reasonably requested by the Company.
All Bonds delivered to the Company in accordance with this Section shall be delivered by the
Company to the Mortgage Trustee for cancellation.

     SECTION 4.03. Substitute Mortgage Bonds.

     (a) The Company shall notify the Trustee not less than 90 days prior to the Release Date (or
such shorter period as the Company and the Trustee may agree) that the Company will deliver to the
Trustee on the Release Date Substitute Mortgage Bonds in an aggregate principal amount equal to the
aggregate principal amount of Notes and any other Securities subject to the release provisions
Outstanding on the Release Date, in trust for the benefit of the Holders from time to time of the
Notes and any other Securities subject to the release provisions issued under the Original
Indenture, as supplemented, as security for any and all obligations of the Company under the Notes
and any other Securities subject to the release provisions, including but not limited to, (1) the
full and prompt payment of the principal of and premium, if any, on the Notes and any other
Securities subject to the release provisions when and as the same shall become due and payable in
accordance with the terms and provisions of the Original Indenture, as supplemented, or the Notes
or such other Securities subject to the release provisions, either at the stated maturity thereof,
upon acceleration of the maturity thereof or upon redemption, and (2) the full and prompt payment
of any interest on the Notes and any other Securities subject to the release provisions when and as
the same shall become due and payable in accordance with the terms and provisions of the Original
Indenture, as supplemented, or the Notes or such other Securities subject to the release
provisions.

     (b) The Company shall deliver such Substitute Mortgage Bonds described in Section 4.03(a) in
separate series and issues corresponding to the series and issues of Notes and other Securities
subject to the release provisions Outstanding on or prior to the Release Date, each series or issue
of Substitute Mortgage Bonds having the same stated rate or rates of interest (or interest

7

 

calculated in the same manner), Interest Payment Dates, stated maturity date and redemption
provisions, and in the same aggregate principal amount, as the related series or issue of Notes or
other Securities subject to the release provisions outstanding on the Release Date; it being
expressly understood that each such series of Substitute Mortgage Bonds shall be held by the
Trustee for the benefit of the Holders of the corresponding series of Securities from time to time
Outstanding subject to such terms and conditions relating to surrender to the Company, transfer
restrictions, voting, application of payments of principal and interest and other matters as shall
be set forth in an indenture supplemental hereto specifically providing for the delivery to the
Trustee of such Substitute Mortgage Bonds. Such Substitute Mortgage Bonds shall be issued under
and secured by a Substitute Mortgage (A) on which the Company shall be the obligor; and (B) which
shall be qualified, or shall meet the requirements for qualification, under the Trust Indenture Act
for the issuance of Substitute Mortgage Bonds.

     (c) On or prior to the Release Date the Company shall have delivered to the Trustee:

(A) a supplemental indenture to the Original Indenture that provides among other things,
that on the delivery of the Substitute Mortgage Bonds described in Section 4.03(b), the
Company shall deliver to the Trustee in trust for the benefit of the Holders as described
in Section 4.03(a) hereof, and the Trustee shall accept therefor, related series of
Substitute Mortgage Bonds registered in the name of the Trustee and conforming to the
requirements herein and therein specified;

(B) an Officer’s Certificate (1) stating that, to the knowledge of the signer, (a) no Event
of Default has occurred and is continuing and (b) no event has occurred and is continuing
which entitles the secured party under the Substitute Mortgage to accelerate the maturity
of the indebtedness outstanding thereunder and (2) stating the aggregate principal amount
of indebtedness issuable, and then proposed to be issued, under and secured by the lien of
the Substitute Mortgage; and

(C) an Opinion of Counsel to the effect that such Substitute Mortgage Bonds have been duly
issued under such Substitute Mortgage and constitute valid obligations, entitled to the
benefit of the lien of the Substitute Mortgage equally and ratably with all other
indebtedness then outstanding secured by such lien.

     (d) On or prior to the Release Date the Company shall provide an Officer’s Certificate stating
that the Company has been advised in writing, within not more than 30 days prior to such
substitution of the Substitute Mortgage Bonds for the Mortgage Bonds, by at least two credit rating
agencies qualifying as “nationally recognized statistical rating organizations” (as defined by the
Securities Exchange Act of 1934, as amended) then maintaining a securities rating on the Notes
that the substitution of such Substitute Mortgage Bonds for the Mortgage Bonds will not result in a
reduction of the securities rating assigned to the Notes by that credit rating agency immediately
prior to the substitution or the suspension or withdrawal of its rating and the Company shall have
provided the Trustee with written evidence of such advice.

     (e) In the event that the Company cannot obtain assurance of at least two credit rating
agencies as described in Section 4.03(d) above, the Company will take such actions as are necessary
to cause the Release Date not to occur.

8

 

     (f) Article Four and related provisions of the Original Indenture (except for any provisions
relating to discharge of Bonds or amounts owing on Bonds on or after the Release Date) shall apply
to Substitute Mortgage Bonds pledged to the Trustee hereunder and the provisions thereof shall be
deemed to refer to the Substitute Mortgage and the Substitute Mortgage Bonds. Article Four and
related provisions may be amended by the Company to have the Notes secured by Substitute Mortgage
Bonds on and after the Release Date and make appropriate reference to the Substitute Mortgage and
the Substitute Mortgage Bonds; provided, that the consent of Holders shall not be required in
connection with such amendment.

     SECTION 4.04. Events of Default.

     (a) On and after the Release Date, Section 601(8) of the Original Indenture shall no longer
apply to the Notes.

     For purposes of the Notes, Section 601(8) of the Original Indenture shall read, “the
occurrence of an “event of default” as such term is defined in the Mortgage; or”.

     (b) On and after the Release Date, the occurrence of a “default” (as defined in the Substitute
Mortgage) shall constitute an Event of Default under Section 601 of the Original Indenture with
respect to the Notes and the references in Section 601(4) of the Original Indenture and related
provisions to “Mortgage Bonds” shall be deemed to refer to “Substitute Mortgage Bonds.”

     (c) In addition, failure by the Company to deliver Substitute Mortgage Bonds in accordance
with the provisions of Section 4.03 of this Supplemental Indenture on or prior to the Release Date
shall be an “Event of Default” with respect to the Notes as contemplated by Section 601(9) of the
Original Indenture.

ARTICLE FIVE

MISCELLANEOUS PROVISIONS

     The Trustee makes no undertaking or representations in respect of, and shall not be
responsible in any manner whatsoever for and in respect of, the validity or sufficiency of this           
Supplemental Indenture or the proper authorization or the due execution
hereof by the Company or for or in respect of the recitals and statements contained herein, all of
which recitals and statements are made solely by the Company.

     Except as expressly amended hereby and by the supplemental indenture appointing the Trustee as
successor trustee, the Original Indenture shall continue in full force and effect in accordance
with the provisions thereof and the Original Indenture is in all respects hereby ratified and
confirmed. This            Supplemental Indenture and all its provisions shall be
deemed a part of the Original Indenture in the manner and to the extent herein and therein
provided.

     This            Supplemental Indenture and the Notes shall be governed by, and
construed in accordance with, the laws of the State of New York.

     This            Supplemental Indenture may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.

9

 

     IN WITNESS WHEREOF, the parties hereto have caused this           
Supplemental Indenture to be duly executed and attested, all as of the day and year first above
written.

	 	 	 	 	 	 	 
	 	 	THE DETROIT EDISON COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 

	 	 	 	 	 
	ATTEST:
	 	 	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

10

 

	 	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK MELLON TRUST
COMPANY,N.A., as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 

	 	 	 	 	 
	ATTEST:
	 	 	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

11

 

EXHIBIT A

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY. UNLESS AND UNTIL IT IS
EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY (“DTC”), TO A NOMINEE OF DTC OR BY DTC OR ANY
SUCH NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR. UNLESS THIS NOTE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE &
CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL, INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

			
	 	 	 
	NO. R-___
	 	$         
               
             
   
	CUSIP          
                 
              	 	 

THE DETROIT EDISON COMPANY

SERIES       % SENIOR NOTES DUE

Principal Amount: $      
                 
                 

Authorized Denomination: $1,000

Regular Record Date: close of business on the 15th calendar day (whether or not a Business Day)
prior to the relevant Interest Payment Date

Original Issue Date:

Stated Maturity:

Interest Payment Dates:     
       and            of each year, commencing

Interest Rate:       % per annum

          THE DETROIT EDISON COMPANY, a corporation duly organized and existing under the laws of the
State of Michigan (the “Company”, which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to Cede & Co. or registered
assigns, at the office or agency of the Company in the City of New York, New York, the principal
sum of                 
            
                 
                dollars ($    
             
              
         ) on            (the
“Stated Maturity”), in the coin or currency of the United States, and to pay interest thereon from
the Original Issue Date shown above, or from the most recent Interest Payment Date to which
interest has been paid or duly provided for, in arrears on each Interest Payment Date as specified
above, commencing on

A-1

 

and on the Stated Maturity at the rate per annum shown above (the “Interest Rate”) until the
principal hereof is due and payable, and on any overdue principal and premium and on any overdue
installment of interest. The interest installment so payable, and punctually paid or duly provided
for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in
whose name this Note (or one or more Predecessor Securities) is registered on the Regular Record
Date as specified above next preceding such Interest Payment Date. Except as otherwise provided in
the Indenture, any such interest not so punctually paid or duly provided for will forthwith cease
to be payable to the Holder on such Regular Record Date and may either be paid to the Person in
whose name this Note (or one or more Predecessor Securities) is registered at the close of business
on a Special Record Date to be fixed by the Trustee for the payment of such defaulted interest,
notice whereof shall be given to Holders of Notes of this series not less than ten days prior to
such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange, if any, on which the Notes of this series shall
be listed, and upon such notice as may be required by any such exchange, all as more fully provided
in the Indenture.

          Payments of interest on this Note will include interest accrued to but excluding the
respective Interest Payment Dates. Interest payments for this Note shall be computed and paid on
the basis of a 360-day year of twelve 30-day months. The Company shall pay interest on overdue
principal and premium, if any, and, to the extent lawful, on overdue installments of interest at
the rate per annum borne by this Note. In the event that any Interest Payment Date, Redemption
Date or Maturity Date is not a Business Day, then the required payment of principal, premium, if
any, and interest will be made on the next succeeding day that is a Business Day (and without any
interest or other payment in respect of any such delay), in each case with the same force and
effect as if made on such date. “Business Day” means any day other than a day on which banking
institutions in the State of New York or the State of Michigan are authorized or obligated pursuant
to law or executive order to close.

          Payment of principal of, premium, if any, and interest on the Notes shall be made in such coin
or currency of the United States of America as at the time of payment is legal tender for payment
of public and private debts. Payments of principal of, premium, if any, and interest on Notes
represented by a Global Security shall be made by wire transfer of immediately available funds to
the Holder of such Global Security, provided that, in the case of payments of principal and
premium, if any, such Global Security is first surrendered to the Paying Agent (as defined in the
Indenture). If any of the Notes of this series are no longer represented by a Global Security, (i)
payments of principal, premium, if any, and interest due at the Stated Maturity or earlier
redemption of such Securities shall be made at the office of the Paying Agent upon surrender of
such Securities to the Paying Agent, and (ii) payments of interest shall be made, at the option of
the Company, subject to such surrender where applicable, by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register.

          UNTIL THE RELEASE DATE (AS DEFINED BELOW), THIS NOTE SHALL BE SECURED BY GENERAL AND REFUNDING
MORTGAGE BONDS,       SERIES       (THE “MORTGAGE BONDS”) ISSUED AND DELIVERED BY THE COMPANY TO
THE TRUSTEE (AS DEFINED BELOW) UNDER THE COMPANY’S SUPPLEMENTAL INDENTURE DATED AS OF           
        , SUPPLEMENTING THE MORTGAGE AND DEED OF TRUST DATED AS OF OCTOBER 1, 1924
BETWEEN THE COMPANY AND THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. (THE “MORTGAGE TRUSTEE”),
PLEDGED BY THE COMPANY FOR THE BENEFIT OF THE HOLDERS OF

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THE NOTES TO THE TRUSTEE UNDER THE INDENTURE (THE “MORTGAGE”). ON THE RELEASE DATE, THE NOTES
SHALL CEASE TO BE SECURED BY SUCH MORTGAGE BONDS AND SHALL BE SECURED BY SUBSTITUTE MORTGAGE BONDS
UNDER A SUBSTITUTE MORTGAGE.

          This Note shall not be entitled to any benefit under the Indenture hereinafter referred to, be
valid or become obligatory for any purpose until the Certificate of Authentication hereon shall
have been signed by or on behalf of the Trustee.

          Unless the Certificate of Authentication hereon has been executed by the Trustee or a duly
appointed Authentication Agent referred to herein, this Note shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose.

          This Note is one of a duly authorized series of Securities of the Company (herein sometimes
referred to as the “Notes”), specified in the Indenture, all issued or to be issued in one or more
series under and pursuant to a Collateral Trust Indenture dated as of June 30, 1993 (the “Original
Indenture”) duly executed and delivered between the Company and The Bank of New York Mellon Trust
Company, N.A., as successor Trustee (herein referred to as the “Trustee”), as supplemented through
and including a            Supplemental Indenture dated as of           
(together with the Original Indenture, the “Indenture”) between the Company and the Trustee,
to which Indenture and all indentures supplemental thereto reference is hereby made for a
description of the respective rights, limitations of rights, obligations, duties and immunities
thereunder of the Trustee, the Company and the registered Holders of the Notes and of the terms
upon which the Notes are, and are to be, authenticated and delivered.

          This Note is not subject to repayment at the option of the Holder hereof. Except as provided
below, this Note is not redeemable by the Company prior to maturity and is not subject to any
sinking fund.

          This Note will be redeemable at the option of the Company, in whole at any time or in part
from time to time (any such date of optional redemption, an “Optional Redemption Date,” which shall
be a “Redemption Date” for purposes of the Indenture), at an optional redemption price (which shall
be a “Redemption Price” for purposes of the Indenture) equal to the greater of (i) 100% of the
principal amount of this Note to be redeemed and (ii) the sum of the present values of the
remaining scheduled payments of principal and interest of this Note to be redeemed (not including
any portion of any payments of interest accrued to the Optional Redemption Date) until Stated
Maturity, in each case discounted from their respective scheduled payment dates to such Optional
Redemption Date on a semiannual basis (assuming a 360-day year consisting of 30-day months) at the
Adjusted Treasury Rate (as defined below) plus            basis points, as determined by the Reference
Treasury Dealer (as defined below), plus, in each case, accrued and unpaid interest thereon to the
Redemption Date.

          Notwithstanding the foregoing, installments of interest on this Note that are due and payable
on Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest
Payment Date to the registered Holders as of the close of business on the relevant Record Date.

          “Adjusted Treasury Rate” means, with respect to any Optional Redemption Date, the rate per
annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue,
calculated on the third Business Day preceding such Optional Redemption Date assuming a

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price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such Optional Redemption Date.

          “Comparable Treasury Issue” means the United States Treasury security selected by the
Reference Treasury Dealer as having a maturity comparable to the remaining term of this Note that
would be utilized, at the time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable maturity to the remaining term of
this Note.

          “Comparable Treasury Price” means, with respect to any Optional Redemption Date, (i) the
average of the Reference Treasury Dealer Quotations for such Optional Redemption Date, after
excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Trustee
obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such
quotations, or (iii) if only one Reference Treasury Dealer Quotation is received, such quotation.

          “Reference Treasury Dealer” means each of: (i)            ,           
        , and            (or their respective affiliates which are
Primary Treasury Dealers), and their respective successors; provided, however, that if any of the
foregoing shall cease to be a primary U.S. government securities dealer in the United States (a
“Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer;
and (ii) any other Primary Treasury Dealer(s) selected by the Trustee after consultation with the
Company.

          “Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer
and any Optional Redemption Date, the average, as determined by the Trustee, of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal
amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York
City time, on the third Business Day preceding such Optional Redemption Date.

          Notice of any optional redemption will be mailed at least 30 days but not more than 60 days
before the Optional Redemption Date to the Holder hereof at its registered address.

          If notice has been provided in accordance with the Indenture and funds for the redemption of
this Note called for redemption have been made available on the Redemption Date, this Note will
cease to bear interest on the date fixed for redemption. Thereafter, the only right of the Holder
hereof will be to receive payment of the Redemption Price.

          The Company will notify the Trustee at least 60 days prior to giving notice of redemption (or
such shorter period as is satisfactory to the Trustee) of the aggregate principal amount of Notes
to be redeemed and the Redemption Date. If the Company elects to redeem all or a portion of the
Notes, the redemption will be conditional upon receipt by the Paying Agent or the Trustee of monies
sufficient to pay the Redemption Price. If the Notes are only partially redeemed by the Company,
the Trustee shall select which Notes are to be redeemed in a manner it deems fair and appropriate
in accordance with the terms of the Indenture.

          In the event of redemption of this Note in part only, a new Note or Notes of this series for
the unredeemed portion hereof will be issued in the name of the registered Holder hereof upon the
cancellation hereof.

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          In case an Event of Default, as defined in the Indenture, shall have occurred and be
continuing, the principal of all of the Notes may be declared, and upon such declaration shall
become, due and payable, in the manner, with the effect and subject to the conditions provided in
the Indenture.

          The Indenture contains provisions for defeasance at any time of the entire indebtedness of
this Note upon compliance by the Company with certain conditions set forth therein.

          The Indenture contains provisions permitting the Company and the Trustee, with the consent of
the registered Holders of not less than a majority in aggregate principal amount of the outstanding
Securities of each series affected at the time, as defined in the Indenture, to execute
supplemental indentures for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying
in any manner the rights of the registered Holders of the Securities; provided, however, that no
such supplemental indenture shall (i) extend the fixed maturity of any Securities of any series, or
reduce the principal amount thereof, or reduce the rate of or extend the time of payment of
interest thereon, or reduce any premium payable upon the redemption thereof, without the consent of
the registered Holder of each Security so affected or (ii) reduce the aforesaid percentage of
Securities, the registered Holders of which are required to consent to any such supplemental
indenture, without the consent of the registered Holders of each Security then outstanding and
affected thereby. The Indenture also contains provisions permitting (i) the registered Holders of
at least 66 2/3% in aggregate principal amount of the Securities of all series at the time
outstanding affected thereby, on behalf of the registered Holders of the Securities of such series,
to waive compliance by the Company with certain provisions of the Indenture and (ii) the registered
Holders of a majority in aggregate principal amount of the Securities of all series at the time
outstanding affected thereby, on behalf of the registered Holders of the Securities of such series,
to waive certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the registered Holder of this Note (unless revoked as provided in the Indenture) shall be
conclusive and binding upon such registered Holder and upon all future registered Holders and
owners of this Note and of any Note issued in exchange hereof or in place hereof (whether by
registration of transfer or otherwise), irrespective of whether or not any notation of such consent
or waiver is made upon this Note.

          No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and interest on this Note at the time and place and at the rate and in the coin or
currency herein prescribed.

          Prior to the Release Date, the Notes of this series shall be secured by a series of Mortgage
Bonds (the “Related Series of Bonds”), delivered by the Company to the Trustee for the benefit of
the Holders of the Notes. Reference is made to the Mortgage and the Indenture for a description of
the rights of the Trustee as Holder of the Related Series of Bonds, the property mortgaged and
pledged under the Mortgage and the rights of the Company and of the Mortgage Trustee in respect
thereof, the duties and immunities of the Mortgage Trustee and the terms and conditions upon which
the Related Series of Bonds are secured and the circumstances under which additional Mortgage Bonds
may be issued.

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          FROM AND AFTER SUCH TIME AS ALL BONDS, OTHER THAN (1) PLEDGED BONDS, INCLUDING THE RELATED
SERIES OF BONDS, AND (2) MORTGAGE BONDS
(EXCLUSIVE OF PLEDGED BONDS) WHICH DO NOT IN AGGREGATE PRINCIPAL AMOUNT EXCEED THE GREATER OF
FIVE PERCENT (5%) OF NET TANGIBLE ASSETS OR FIVE PERCENT (5%) OF CAPITALIZATION, HAVE BEEN RETIRED
THROUGH PAYMENT, REDEMPTION OR OTHERWISE (INCLUDING THOSE MORTGAGE BONDS THE PAYMENT FOR WHICH HAS
BEEN PROVIDED FOR IN ACCORDANCE WITH THE MORTGAGE) AT, BEFORE OR AFTER THE MATURITY THEREOF,
PROVIDED THAT NO DEFAULT OR EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING (THE “RELEASE DATE”),
THE RELATED SERIES OF BONDS SHALL CEASE TO SECURE THE NOTES IN ANY MANNER AND SHALL INSTEAD BE
SECURED BY SUBSTITUTE MORTGAGE BONDS PURSUANT TO SECTION 4.03 OF THE           
SUPPLEMENTAL INDENTURE DATED AS OF            TO THE INDENTURE DESCRIBED ABOVE.

          As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note is registrable in the Security Register of the Company, upon surrender of
this Note for registration of transfer at the office or agency of the Company in any place where
the principal of and any interest on this Note are payable or at such other offices or agencies as
the Company may designate, duly endorsed by or accompanied by a written instrument or instruments
of transfer in form satisfactory to the Company and the Security Registrar or any transfer agent
duly executed by the registered Holder hereof or his or her attorney duly authorized in writing,
and thereupon one or more new Notes of this series and of like tenor, of authorized denominations
and for the same aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be made for any such transfer, but the Company may require
payment of a sum sufficient to cover any tax or other governmental charge payable in relation
thereto.

          Prior to due presentment for registration of transfer of this Note, the Company, the Trustee,
any Paying Agent and any Note Registrar may deem and treat the registered Holder hereof as the
absolute owner hereof (whether or not this Note shall be overdue and notwithstanding any notice of
ownership or writing hereon made by anyone other than the Note Registrar) for the purpose of
receiving payment of or on account of the principal hereof and interest due hereon and for all
other purposes, and neither the Company nor the Trustee nor any Paying Agent nor any Security
Registrar shall be affected by any notice to the contrary.

          The Notes of this series are issuable only in fully registered form without coupons in
denominations of $1,000 and any integral multiple thereof. This Global Security is exchangeable
for Notes in definitive form only under certain limited circumstances set forth in the Indenture.
As provided in the Indenture and subject to certain limitations therein set forth, Notes of this
series are exchangeable for a like aggregate principal amount of Notes of this series of a
different authorized denomination, as requested by the registered Holder surrendering the same.

          As set forth in, and subject to the provisions of, the Indenture, no Holder of any Note will
have any right to institute any proceeding with respect to the Indenture or for any remedy
thereunder, unless (i) such Holder shall have previously given to the Trustee written notice of a
continuing Event of Default with respect to the Notes of this series, (ii) the Holders of not less
than 25% in principal amount of the outstanding Notes of this series shall have made written
request, and offered reasonable indemnity, to the Trustee to institute such proceeding as trustee,
(iii) the Trustee shall have failed to institute such proceeding within 60 days and (iv) the
Trustee shall not have received from the Holders of a majority in principal amount of the
outstanding

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Notes of this series a direction inconsistent with such request within such 60-day period;
provided, however, that such limitations do not apply to a suit instituted by the Holder hereof for
the enforcement of payment of the principal of or any interest on this Note on or after the
respective due dates expressed herein.

          All terms used in this Note which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

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          IN WITNESS WHEREOF, the parties hereto have caused this Note to be duly executed and attested,
all as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	THE DETROIT EDISON COMPANY	 	 
	 
	 	 	 	 	 	 
	[Corporate Seal]
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 

	 	 	 	 	 
	ATTEST:
	 	 	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

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CERTIFICATE OF AUTHENTICATION

          This is one of the Notes of the series of Notes described in the within mentioned Indenture.

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST

COMPANY, N.A.

as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

Date:        
               
                 

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FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 

(Please insert Social Security or Other Identifying Number of Assignee)

 

(Please print or type name and address, including zip code of assignee)

the within Note and all rights thereunder, hereby irrevocably constituting and appointing such
person attorneys to transfer the within Note on the books of the Issuer, with full power of
substitution in the premises.

Dated:       
                 
                 

          NOTICE: The signature of this assignment must correspond with the name as written upon the
face of the within Note in every particular, without alteration or enlargement or any change
whatever and NOTICE: Signature(s) must be guaranteed by a financial institution that is a member of
the Securities Transfer Agents Medallion Program (“STAMP”), the Stock Exchange, Inc. Medallion
Signature Program (“MSP”). When assignment is made by a guardian, trustee, executor or
administrator, an officer of a corporation, or anyone in a representative capacity, proof of his or
her authority to act must accompany this Note.

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