Document:

Exhibit 4(A)(48)

 

Exhibit 4(a)(48)

Executed in 30 Counterparts of which

this is Counterpart No.                    

 

MORTGAGE

JERSEY CENTRAL POWER & LIGHT COMPANY

to

THE BANK OF NEW YORK,

Successor Trustee

FIFTY-FIFTH SUPPLEMENTAL INDENTURE

FIRST MORTGAGE BONDS,

DESIGNATED SENIOR NOTE SERIES F BONDS

Dated as of April 1, 2004

This instrument prepared by:

Marc B. Lasky, Esq.

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page

	PARTIES
	 	 	1	 
	RECITALS
	 	 	1	 
	GRANT
	 	 	5	 
	EXCEPTED PROPERTY
	 	 	5	 
	GENERAL SUBJECT CLAUSES
	 	 	5	 
	Article I CONCERNING THE TRUSTEE.
	 	 	6	 
	Section 1.01 Acceptance by Trustee of Property in Trust
	 	 	6	 
	Section 1.02 Recitals by Company
	 	 	6	 
	Article II CREATION, DESCRIPTION AND FORM OF THE SENIOR NOTE SERIES F BONDS
	 	 	6	 
	Section 2.01 Creation of Senior Note Series F Bonds
	 	 	6	 
	Section 2.02 Unlimited Principal Amount of Senior Note Series F Bonds Issuable
	 	 	6	 
	Section 2.03 Dating, Maturity and Payment of Principal and Interest of Senior Note Series F Bonds
	 	 	7	 
	Section 2.04 Payment on New Senior Notes Sufficient
	 	 	8	 
	Section 2.05 Registered in Name of the Senior Note Trustee
	 	 	8	 
	Section 2.06 Senior Note Series F Bonds Not Transferable
	 	 	8	 
	Section 2.07 Redemption Provisions.
	 	 	9	 
	Section 2.08 Redemption on Demand of Senior Note Trustee
	 	 	9	 
	Section 2.09 Senior Note Series F Bonds as ‘Related Senior Note First Mortgage Bonds’
	 	 	9	 
	Section 2.10 Surrender of Senior Note Series F Bonds
	 	 	9	 
	Section 2.11 Discharge From and After Release Date
	 	 	10	 
	Section 2.12 Form of Senior Note Series F Bonds
	 	 	10	 
	Article III MISCELLANEOUS
	 	 	17	 
	Section 3.01 Meaning of Certain Terms
	 	 	17	 
	Section 3.02 Original Indenture and Supplemental Indentures Ratified and Confirmed
	 	 	17	 
	Section 3.03 Execution in Counterparts
	 	 	17	 

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	 	 	Page

	TESTIMONIUM
	 	 	18	 
	SIGNATURES AND SEALS
	 	 	18	 
	ACKNOWLEDGMENTS
	 	 	20	 
	CERTIFICATE OF RESIDENCE
	 	 	24	 

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MORTGAGE

     FIFTY-FIFTH SUPPLEMENTAL INDENTURE, dated as of the 1st day of April,
2004, made and entered into by and between JERSEY CENTRAL POWER & LIGHT
COMPANY, a corporation organized and existing under the laws of the State of
New Jersey (hereinafter called the “Company”), party of the first part, and THE
BANK OF NEW YORK, a banking corporation of the State of New York, with its
principal corporate trust office at 101 Barclay Street, New York, New York,
10286, as Successor Trustee under the Original Indenture hereinafter mentioned
(the Successor Trustee being hereinafter sometimes called “Trustee”), party of
the second part.

     WHEREAS, the Company has heretofore executed and delivered to City Bank
Farmers Trust Company an Indenture dated as of March 1, 1946 (hereinafter
called the “Original Indenture”), to secure the principal of and the interest
and premium (if any) on all bonds at any time issued and outstanding
thereunder, to declare the terms and conditions upon which bonds are to be
issued thereunder and to subject to the lien thereof certain property therein
described; and

     WHEREAS, The Bank of New York is now acting as Successor Trustee under the
Original Indenture and the indentures supplemental thereto hereinafter
enumerated; and

     WHEREAS, the Original Indenture has heretofore been supplemented by a
First Supplemental Indenture dated as of December 1, 1948, a Second
Supplemental Indenture dated as of April 1, 1953, a Third Supplemental
Indenture dated as of June 1, 1954, a Fourth Supplemental Indenture dated as of
May 1, 1955, a Fifth Supplemental Indenture dated as of August 1, 1956, a Sixth
Supplemental Indenture dated as of July 1, 1957, a Seventh Supplemental
Indenture dated as of July 1, 1959, an Eighth Supplemental Indenture dated as
of June 1, 1960, a Ninth Supplemental Indenture dated as of November 1, 1962, a
Tenth Supplemental Indenture dated as of October 1, 1963, an Eleventh
Supplemental Indenture dated as of October 1, 1964, a Twelfth Supplemental
Indenture dated as of November 1, 1965, a Thirteenth Supplemental Indenture
dated as of August 1, 1966, a Fourteenth Supplemental Indenture dated as of
September 1, 1967, a Fifteenth Supplemental Indenture dated as of October 1,
1968, a Sixteenth Supplemental Indenture dated as of October 1, 1969, a
Seventeenth Supplemental Indenture dated as of June 1, 1970, an Eighteenth
Supplemental Indenture dated as of December 1, 1970, a Nineteenth Supplemental
Indenture dated as of February 1, 1971, a Twentieth Supplemental Indenture
dated as of November 1, 1971, a Twenty-first Supplemental Indenture dated as of
August 1, 1972, a Twenty-second Supplemental Indenture dated as of August 1,
1973, a Twenty-third Supplemental Indenture dated as of October 1, 1973, a
Twenty-fourth Supplemental Indenture dated as of December 1, 1973, a
Twenty-fifth Supplemental Indenture dated as of November 1, 1974, a
Twenty-sixth Supplemental Indenture dated as of March 1, 1975, a Twenty-seventh
Supplemental Indenture dated as of July 1, 1975, a Twenty-eighth Supplemental
Indenture dated as of October 1, 1975, a Twenty-ninth Supplemental Indenture
dated as of February 1, 1976, a Supplemental Indenture No. 29A dated as of May
31, 1976, a Thirtieth Supplemental Indenture dated as of June 1, 1976, a
Thirty-first Supplemental Indenture dated as of May 1, 1977, a Thirty-

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second Supplemental Indenture dated as of January 20, 1978, a Thirty-third
Supplemental Indenture dated as of January 1, 1979, a Thirty-fourth
Supplemental Indenture dated as of June 1, 1979, a Thirty-fifth Supplemental
Indenture dated as of June 15, 1979, a Thirty-sixth Supplemental Indenture
dated as of October 1, 1979, a Thirty-seventh Supplemental Indenture dated as
of September 1, 1984, a Thirty-eighth Supplemental Indenture dated as of July
1, 1985, a Thirty-ninth Supplemental Indenture dated as of April 1, 1988, a
Fortieth Supplemental Indenture dated as of June 14, 1988, a Forty-first
Supplemental Indenture dated as of April 1, 1989, a Forty-second Supplemental
Indenture dated as of July 1, 1989, a Forty-third Supplemental Indenture dated
as of March 1, 1991, a Forty-fourth Supplemental Indenture dated as of March 1,
1992, a Forty-fifth Supplemental Indenture dated as of October 1, 1992, a
Forty-sixth Supplemental Indenture dated as of April 1, 1993, a Forty-seventh
Supplemental Indenture dated as of April 10, 1993, a Forty-eighth Supplemental
Indenture dated as of April 15, 1993, a Forty-ninth Supplemental Indenture
dated as of October 1, 1993, a Fiftieth Supplemental Indenture dated as of
August 1, 1994, a Fifty-first Supplemental Indenture dated as of August 15,
1996, a Fifty-second Supplemental Indenture dated as of July 1, 1999, a
Fifty-third Supplemental Indenture dated as of November 1, 1999 and a
Fifty-fourth Supplemental Indenture dated as of May 1, 2001 (hereinafter
respectively called “First Supplemental Indenture,” “Second Supplemental
Indenture,” “Third Supplemental Indenture,” “Fourth Supplemental Indenture,”
“Fifth Supplemental Indenture,” “Sixth Supplemental Indenture,” “Seventh
Supplemental Indenture,” “Eighth Supplemental Indenture,” “Ninth Supplemental
Indenture,” “Tenth Supplemental Indenture,” “Eleventh Supplemental Indenture,”
“Twelfth Supplemental Indenture,” “Thirteenth Supplemental Indenture,”
“Fourteenth Supplemental Indenture,” “Fifteenth Supplemental Indenture,”
“Sixteenth Supplemental Indenture,” “Seventeenth Supplemental Indenture,”
“Eighteenth Supplemental Indenture,” “Nineteenth Supplemental Indenture,”
“Twentieth Supplemental Indenture,” “Twenty-first Supplemental Indenture,”
“Twenty-second Supplemental Indenture,” “Twenty-third Supplemental Indenture,”
“Twenty-fourth Supplemental Indenture,” “Twenty-fifth Supplemental Indenture,”
“Twenty-sixth Supplemental Indenture,” “Twenty-seventh Supplemental Indenture,”
“Twenty-eighth Supplemental Indenture,” “Twenty-ninth Supplemental Indenture,”
“Supplemental Indenture No. 29A,” “Thirtieth Supplemental Indenture,”
“Thirty-first Supplemental Indenture,” “Thirty-second Supplemental Indenture,”
“Thirty-third Supplemental Indenture,” “Thirty-fourth Supplemental Indenture,”
“Thirty-fifth Supplemental Indenture,” “Thirty-sixth Supplemental Indenture,”
“Thirty-seventh Supplemental Indenture,” “Thirty-eighth Supplemental
Indenture,” “Thirty-ninth Supplemental Indenture,” “Fortieth Supplemental
Indenture,” “Forty-first Supplemental Indenture,” “Forty-second Supplemental
Indenture,” “Forty-third Supplemental Indenture,” “Forty-fourth Supplemental
Indenture,” “Forty-fifth Supplemental Indenture,” “Forty-sixth Supplemental
Indenture,” “Forty-seventh Supplemental Indenture,” “Forty-eighth Supplemental
Indenture,” “Forty-ninth Supplemental Indenture,” “Fiftieth Supplemental
Indenture,” “Fifty-first Supplemental Indenture,” “Fifty-second Supplemental
Indenture,” “Fifty-third Supplemental Indenture,” and “Fifty-fourth
Supplemental Indenture,” collectively called “the Supplemental Indentures”),
for the purposes therein expressed; and

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     WHEREAS, the Original Indenture has been recorded in the proper recording
offices of the following counties in the State of New Jersey and the
Commonwealth of Pennsylvania in Books of Mortgages at the pages respectively
stated as follows:

NEW JERSEY

	 	 	 	 	 	 	 
	 	 	Mortgage	 	 
	County
	 	Book
	 	Page

	Burlington

	 	 	360	 	 	1 &c
	Camden

	 	 	2423	 	 	37 &c
	Essex

	 	 	I-103	 	 	155 &c
	Hunterdon

	 	 	439	 	 	284 &c
	Mercer

	 	 	732	 	 	280 &c
	Middlesex

	 	 	871	 	 	101 &c
	Monmouth

	 	 	1365	 	 	1 &c
	Morris

	 	 	Z-16	 	 	1 &c
	Ocean

	 	 	385	 	 	33 &c
	Passaic

Somerset

	 	 	B-24

386	 	 	1 &c

1 &c
	Sussex

	 	 	394	 	 	148 &c
	Union

	 	 	1474	 	 	1 &c
	Warren

	 	 	279	 	 	191 &c
	PENNSYLVANIA

	Armstrong

	 	 	213	 	 	421 &c
	Bucks

	 	 	2133	 	 	151 &c
	Dauphin

	 	 	N52	 	 	1 &c
	Indiana

	 	 	200	 	 	371 &c
	Montgomery

	 	 	7537	 	 	1287 &c
	Northampton

	 	 	1159	 	 	1 &c

; and

     WHEREAS, the Supplemental Indentures have been recorded in the proper
recording offices of the appropriate counties in the State of New Jersey and
the Commonwealth of Pennsylvania; and

     WHEREAS, the Original Indenture, as the same may be amended or
supplemented from time to time by indentures supplemental thereto, is
hereinafter referred to as “the Indenture”; and

     WHEREAS, the Company has entered into an Indenture dated as of July 1,
1999 (the “Senior Note Indenture”) with United States Trust Company of New
York, as trustee, under which The Bank of New York is acting as successor
trustee (the “Senior Note Trustee”), providing for the issuance of notes
thereunder (the “Senior Notes”) from time to time, and pursuant to the Senior
Note Indenture the Company has agreed to issue to the Senior Note Trustee, as
security for the Senior Notes, a new series of bonds under the

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Indenture at the time of authentication of each series of Senior Notes
issued prior to the Release Date (as defined in the Senior Note Indenture); and

     WHEREAS, for such purposes the Company desires to issue a new series of
bonds and by appropriate corporate action in conformity with the terms of the
Indenture has duly determined to create a separate series of bonds, which shall
be designated as “First Mortgage Bonds, Senior Note Series F” (hereinafter
sometimes referred to as the “Senior Note Series F Bonds”), which said Senior
Note Series F Bonds are to be substantially in the form set forth in Article II
hereof with the insertion of numbers, denominations, date or dates from which
interest shall accrue, maturities, interest rates (or method of determination
thereof), interest payment dates and other terms as determined in accordance
with the terms of the Indenture; and

     WHEREAS, the Senior Note Series F Bonds shall be issued to the Senior Note
Trustee in connection with the concurrent issuance from time to time by the
Company of a like aggregate principal amount of its Senior Notes (the “New
Senior Notes”); and

     WHEREAS, all acts and things prescribed by law and by the certificate of
incorporation and by-laws of the Company necessary to make the Senior Note
Series F Bonds, when executed by the Company and authenticated by the Trustee,
as in the Indenture provided, valid, binding and legal obligations of the
Company, entitled in all respects to the security of the Indenture, have been
performed or will have been performed prior to execution of such Senior Note
Series F Bonds by the Company and authentication thereof by the Trustee; and

     WHEREAS, the Original Indenture authorizes the Company and the Trustee to
enter into supplemental indentures for the purpose, among others, of conveying,
transferring and assigning to the Trustee, and subjecting to the lien thereof,
additional properties thereafter acquired by the Company; and

     WHEREAS, the Company desires to subject specifically to the lien of the
Indenture certain property acquired by the Company since May 1, 2001; and

     WHEREAS, by the provisions of Article XVII of the Original Indenture,
indentures supplemental to the Original Indenture may be executed and delivered
for the purpose of setting forth the terms, provisions and form of the Senior
Note Series F Bonds and supplementing the Original Indenture in a manner which
is not inconsistent with the provisions thereof and does not adversely affect
the interests nor modify the rights of outstanding bonds and for the other
purposes therein more fully set forth; and

     WHEREAS, the Company, in the exercise of the powers and authority
conferred upon and reserved to it under the provisions of the Original
Indenture and pursuant to appropriate action of its Board of Directors, has
fully resolved and determined to make, execute and deliver to the Trustee a
Fifty-fifth Supplemental Indenture in the form hereof for the purposes herein
provided; and

     WHEREAS, the Company represents that all conditions and requirements
necessary to make this Fifty-fifth Supplemental Indenture, in the form and upon
the terms

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hereof, a valid, binding and legal instrument, in accordance with its
terms, and for the purposes herein expressed, have been done, performed and
fulfilled, and the execution and delivery hereof, in the form and upon the
terms hereof, have been in all respects duly authorized.

     NOW THEREFORE, THIS FIFTY-FIFTH SUPPLEMENTAL INDENTURE WITNESSETH: That
Jersey Central Power & Light Company, in consideration of the premises, and the
execution and delivery by the Trustee of this Fifty-fifth Supplemental
Indenture and for other good and valuable considerations, receipt of which is
hereby acknowledged, has granted, bargained, sold, aliened, enfeoffed,
released, conveyed, mortgaged, assigned, transferred, pledged, set over and
confirmed, and by these presents does grant, bargain, sell, alien, enfeoff,
release, convey, mortgage, assign, transfer, pledge, set over and confirm unto
The Bank of New York, as Successor Trustee as aforesaid, and to its successors
in the trust created by the Original Indenture and to its and their successors
and assigns forever, all the following properties of the Company, that is to
say:

FIRST

     All property additions, as defined in and by Section 1.03 of the Original
Indenture, acquired by the Company on or after May 1, 2001, and prior to April
1, 2004 and now owned by the Company.

SECOND

     Also all property of the character and nature specified in the “Second,”
“Third,” “Fourth,” “Fifth,” and “Sixth” subdivisions of the granting clauses
of the Original Indenture.

     EXPRESSLY EXCEPTING AND EXCLUDING, HOWEVER, from this Fifty-fifth
Supplemental Indenture and from the lien and operation of the Indenture, all
property which, prior to the date of this Fifty-fifth Supplemental Indenture,
shall have been released from the lien of, or disposed of by the Company in
accordance with the provisions of the Indenture; and all the tracts or parcels
of land and premises and all property of every kind and type excepted and
excluded from, and not heretofore or hereby expressly subjected to, the lien of
the Original Indenture by the terms thereof whether such property was owned by
the Company at the date thereof or has been acquired since that date.

     SUBJECT, HOWEVER, except as otherwise expressly provided in this
Fifty-fifth Supplemental Indenture, to the exceptions, reservations and matters
recited in the Indenture, to the reservations, exceptions, limitations and
restrictions contained in the several deeds, grants, franchises and contracts
or other instruments through which the Company acquired or claims title to the
aforesaid property; and subject also to existing leases, to liens on easements
or rights of way for transmission or distribution line purposes, to taxes and
assessments not in default, to easements for alleys, streets, highways, rights
of-way and railroads that may run across or encroach upon said lands, to

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joint pole and similar agreements, to undetermined liens and charges, if
any, incidental to the construction and other permissible encumbrances, as
defined in the Original Indenture, and subject also to the provisions of
Section 13.03 of the Original Indenture.

     In trust, nevertheless, upon the terms and trusts set forth in the
Indenture.

     AND THIS FIFTY-FIFTH SUPPLEMENTAL INDENTURE FURTHER WITNESSETH: That the
Company, for the considerations aforesaid, hereby covenants and agrees to and
with the Trustee and its successors in the trust under the Indenture, as
follows:

ARTICLE I

CONCERNING THE TRUSTEE.

     Section 1.01 Acceptance by Trustee of Property in Trust. The Trustee
hereby accepts the properties hereby mortgaged and conveyed to it upon the
trusts hereinbefore referred to and agrees to perform the same upon the terms
and conditions set forth in the Indenture.

     Section 1.02 Recitals by Company. The Trustee shall not be responsible in
any manner for or with respect to the validity or sufficiency of this
Fifty-fifth Supplemental Indenture, or the due execution hereof by the Company,
or for or with respect to the recitals and statements contained herein, all of
which recitals and statements are made solely by the Company.

ARTICLE II

CREATION, DESCRIPTION AND FORM OF

THE SENIOR NOTE SERIES F BONDS

     Section 2.01 Creation of Senior Note Series F Bonds. The Company hereby
creates a series of bonds to be issued under and secured by the Indenture, to
be designated and to be distinguished from bonds of all other series by the
title “First Mortgage Bonds, Senior Note Series F.”

     Section 2.02 Unlimited Principal Amount of Senior Note Series F Bonds
Issuable. An unlimited principal amount of Senior Note Series F Bonds, being
authenticated and delivered from time to time, may forthwith be executed by the
Company and delivered to the Trustee and shall be authenticated by the Trustee
and delivered (either before or after the filing or recording hereof) to or
upon the order of the designated officer or officers of the Company specifying,
among other things, the principal amount of the Senior Note Series F Bonds to
be issued on the specified date of issuance, the numbers, denominations, date or dates from which interest
shall accrue, maturities, interest rates (or method of determination thereof),
interest payment dates and other terms of such Senior Note Series F Bonds, upon
receipt by the Trustee of the cash, resolutions, certificates, opinions and
documents required to be delivered upon the issue of bonds from time to time as
provided in the Indenture.

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     Section 2.03 Dating, Maturity and Payment of Principal and Interest of
Senior Note Series F Bonds. Each Senior Note Series F Bond shall be dated the
date of its authentication (“issue date”) and shall bear interest from the
issue date of said bond or from the most recent interest payment date to which
interest has been paid or duly provided for with respect to the Senior Note
Series F Bonds, except that so long as there is no existing default in the
payment of interest on the Senior Note Series F Bonds, any Senior Note Series F
Bond authenticated by the Trustee between the record date (as hereinafter
defined) for any interest payment date for such bond and such interest payment
date shall bear interest from such interest payment date; provided, however,
that if and to the extent the Company shall default in payment of the interest
due on such interest payment date, then any such Senior Note Series F Bond
shall bear interest from the most recent interest payment date to which
interest has been paid or duly provided for with respect to such Senior Note
Series F Bond, or, if no interest has been paid on such Senior Note Series F
Bond, then from its issue date. Each Senior Note Series F Bond shall be
payable on its respective maturity date in such coin or currency of the United
States of America as at the time of payment is legal tender for the payment of
public and private debts, and shall bear interest payable in like coin or
currency, (i) at the interest rate specified in such Senior Note Series F Bond,
or in accordance with the method for determining such rate set forth therein,
payable on the interest payment dates specified pursuant to Section 2.02
hereof, and on the maturity date, according to the terms of such Senior Note
Series F Bond or on prior redemption or by declaration or otherwise, commencing
with the interest payment date first following the issue date of said bond;
provided, however, if the issue date of a Senior Note Series F Bond is between
the record date for an interest payment date and the interest payment date,
interest payments on said bond will commence on the second interest payment
date following the issue date, and (ii) at the highest rate of interest borne
by any of the bonds outstanding under the Indenture from such date of maturity
until they shall be paid or payment thereof shall have been duly provided for,
and (to the extent that payment of such interest is enforceable under
applicable law) interest on any overdue installment of interest shall be
payable at the highest rate of interest borne by any of the bonds outstanding
under the Indenture. Principal of and interest on the Senior Note Series F
Bonds shall be payable at the office or agency of the Company in the Borough of
Manhattan, The City of New York.

     The person in whose name any Senior Note Series F Bond is registered at
the close of business on any record date (as hereinafter defined) with respect
to any interest payment date shall be entitled to receive the interest payable
on such interest payment date (except that in case of any redemption of any
Senior Note Series F Bond as provided for herein on a date subsequent to the
record date and prior to such interest payment date, interest on such redeemed
bonds shall be payable only to the date fixed for redemption thereof and only against surrender of such bond for redemption in
accordance with the notice of such redemption) notwithstanding the cancellation
of any such Senior Note Series F Bond upon any registration of transfer or
exchange subsequent to the record date and prior to such interest payment date;
provided, however, that if, and to the extent, the Company shall default in the
payment of the interest due on any interest payment date, such defaulted
interest shall be paid to the person in whose name such outstanding Senior Note
Series F Bond is registered on the day immediately preceding the date of
payment of such defaulted interest or, at the election of the Company, on a
subsequent record date

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established by notice given by mail by or on behalf of
the Company to the holder of such Senior Note Series F Bond not less than
fifteen days preceding such subsequent record date.

     Unless otherwise specified in the written order of the Company delivered
pursuant to Section 4.07(a) of the Original Indenture with respect to any
Senior Note Series F Bond, the term “record date” shall mean, with respect to
any regular interest payment date, the close of business on the 15th day of the
calendar month next preceding such interest payment date or, in the case of
defaulted interest, the close of business on any subsequent record date
established as provided above.

     Section 2.04 Payment on New Senior Notes Sufficient. Upon any payment of
the principal of, premium, if any, and interest on, all or any portion of the
New Senior Notes referred to in the form of any Senior Note Series F Bond,
whether at maturity or prior to maturity by redemption or otherwise or upon
provision for the payment thereof having been made in accordance with Section
5.01(a) of the Senior Note Indenture, such Senior Note Series F Bond in a
principal amount equal to the principal amount of such New Senior Notes shall,
to the extent of such payment of principal, premium, if any, and interest, be
deemed paid and the obligation of the Company thereunder to make such payment
shall be discharged to such extent and, in the case of the payment of principal
(and premium, if any), such Senior Note Series F Bond in a principal amount
equal to the related New Senior Notes shall be surrendered to the Company for
cancellation as provided in Section 4.06 of the Senior Note Indenture. The
Trustee may at any time and all times conclusively assume that the obligation
of the Company to make payments with respect to the principal of and premium,
if any, and interest on any Senior Note Series F Bond, so far as such payments
at the time have become due, has been fully satisfied and discharged pursuant
to the foregoing sentence unless and until the Trustee shall have received a
written notice from the Senior Note Trustee signed by one of its officers
stating (i) that timely payment of principal of, or premium or interest on, the
New Senior Notes referred to in the form of such Senior Note Series F Bond has
not been so made, (ii) that the Company is in arrears as to the payments
required to be made by it to the Senior Note Trustee pursuant to the Senior
Note Indenture, and (iii) the amount of the arrearage.

     Section 2.05 Registered in Name of the Senior Note Trustee. Each Senior
Note Series F Bond is to be issued to and registered in the name of The Bank of
New York, as the Senior Note Trustee, or a successor trustee thereto, under the Senior Note Indenture to secure any and all obligations of the Company
under the New Senior Notes referred to in the form of any Senior Note Series F
Bond and any other series of Senior Notes from time to time outstanding under
the Senior Note Indenture.

     Section 2.06 Senior Note Series F Bonds Not Transferable. Except (i) as
required to effect an assignment to a successor Trustee under the Senior Note
Indenture, (ii) pursuant to Section 4.03 or Section 4.06 of the Senior Note
Indenture, or (iii) in compliance with a final order of a court of competent
jurisdiction in connection with any bankruptcy or reorganization proceeding of
the Company, the Senior Note Series F Bonds are not transferable. The Senior
Note Series F Bonds shall be exchangeable for other registered bonds of the
same series and for the same aggregate principal amount, in

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the manner and upon
the conditions prescribed in the Indenture, upon the surrender of such bonds at
the office or agency of the Company in the Borough of Manhattan, The City of
New York. The Company covenants and agrees that, notwithstanding Section 2.03
of the Indenture, it will not charge any sum for or in connection with any
exchange or transfer of any Senior Note Series F Bond.

     Section 2.07 Redemption Provisions.

          (a) Senior Note Series F Bonds shall not be redeemed except (i) as set
forth in Section 2.08 hereof; and (ii) by the surrender thereof by the Senior
Note Trustee to the Trustee for cancellation at a redemption price of zero upon
redemption of all other series of bonds pursuant to Section 8.08 of the
Indenture.

          (b) In the event the Company redeems any New Senior Notes referred to in
the form of any Senior Note Series F Bond prior to maturity in accordance with
the provisions of the Senior Note Indenture, the Senior Note Trustee shall on
the same date deliver to the Company such Senior Note Series F Bond for
cancellation of a principal amount thereof corresponding to such New Senior
Notes so redeemed, as provided in Section 4.06 of the Senior Note Indenture.

          (c) Senior Note Series F Bonds are not redeemable by the operation of the
improvement fund pursuant to Section 5.22 and Section 9.06 of the Indenture or
otherwise or by operation of the maintenance and replacement provisions of
Section 5.07 and Section 9.06 of the Indenture or otherwise or with the
proceeds of released property pursuant to Section 9.06 of the Indenture or
otherwise.

     Section 2.08 Redemption on Demand of Senior Note Trustee. The Senior Note
Series F Bonds shall be immediately redeemed at a redemption price of 100% of
the principal amount thereof, plus interest accrued to the redemption date, in
whole, upon a written demand for redemption by the Senior Note Trustee stating
that the principal of all Senior Notes then outstanding under the Senior Note
Indenture has been declared to be immediately due and payable pursuant to the
provisions of the first sentence of Section 8.01(a) thereof.

     Section 2.09 Senior Note Series F Bonds as ‘Related Senior Note First
Mortgage Bonds’. For purposes of Section 4.07 of the Senior Note Indenture,
each Senior Note Series F Bond shall be deemed to be the “Related Senior Note
First Mortgage Bond” in respect of the New Senior Notes issued concurrently
therewith and referred to in the form of such Senior Note Series F Bond.

     Section 2.10 Surrender of Senior Note Series F Bonds. At any time a New
Senior Note shall cease to be entitled to any lien, benefit or security under
the Senior Note Indenture pursuant to Section 5.01(b) thereof and the Company
shall have provided the Senior Note Trustee with notice thereof, the Senior
Note Trustee shall surrender an equal principal amount of the Related Senior
Note First Mortgage Bonds, subject to the limitations of Section 4.06 of the
Senior Note Indenture, to the Company for cancellation.

9

 

     Section 2.11 Discharge From and After Release Date. As provided in
Section 4.09 of the Senior Note Indenture, from and after the Release Date, the
obligations of the Company with respect to the Senior Note Series F Bonds shall
be deemed to be satisfied and discharged, the Senior Note Series F Bonds shall
cease to secure in any manner any Senior Notes outstanding under the Senior
Note Indenture, and, pursuant to Section 4.06 of the Senior Note Indenture, the
Senior Note Trustee shall forthwith deliver the Senior Note Series F Bonds to
the Company for cancellation.

     Section 2.12 Form of Senior Note Series F Bonds. Unless otherwise
specified in the written order of the Company delivered pursuant to Section
4.07(a) of the Original Indenture with respect to any Senior Note Series F
Bonds, the form of the Senior Note Series F Bonds and the Trustee’s
authentication certificate to be endorsed thereon shall be substantially as
follows, the maturity date or dates, denominations, interest rates (or method
of determination thereof), interest payment dates and other terms thereof to be
appropriately inserted as provided in Section 2.01 of the Original Indenture.

[FORM OF SENIOR NOTE SERIES F BONDS]

JERSEY CENTRAL POWER & LIGHT COMPANY

FIRST MORTGAGE BOND, SENIOR NOTE SERIES F

	 	 	 
	$300,000,000

	 	No. 1

	 	 	 	 	 	 	 	 	 
	Issue Date
	 	Interest Rate
	 	Maturity Date

	April 23, 2004
	 	 	5.625	%	 	May 1, 2016

Interest Payment Dates: May 1 and November 1, commencing November 1, 2004

     JERSEY CENTRAL POWER & LIGHT COMPANY, a corporation organized and existing
under the laws of the State of New Jersey (hereinafter called the “Company”),
for value received, hereby promises to pay to The Bank of New York, as
successor Trustee under the Company’s Indenture dated as of July 1, 1999, or
registered assigns, THREE HUNDRED MILLION DOLLARS on the Maturity Date
specified above, unless this Bond shall have been duly called for previous
redemption in whole or in part and payment of the redemption price shall have
been duly made or provided for, at the office or agency of the Company in the
Borough of Manhattan, The City of New York, in such coin or currency of the
United States of America as at the time of payment shall be legal tender for
the payment of public and private debts, and to pay to the registered holder
hereof interest thereon, at said office or agency, in like coin or currency,
from the Issue Date specified above, or from the most recent Interest Payment
Date to which interest has been paid or duly provided for, until said principal
sum has been paid or provided for, at the Interest Rate per annum specified
above, on the Interest Payment Dates specified above and on the maturity date
specified above; provided, however, if the Issue Date is between the record
date for an Interest Payment Date and the Interest Payment Date, interest
payments will commence on the second Interest Payment Date following the Issue
Date; and, to the extent permitted by law, to pay interest on overdue

10

 

interest
at the highest rate of interest borne by any of the bonds outstanding under the
Mortgage hereinafter mentioned.

     This bond is one of an issue of bonds of the Company (hereinafter referred
to as the “bonds”), not limited in principal amount except as provided in the
Mortgage hereinafter mentioned, which may mature at different times, may bear
interest at different rates, and may otherwise vary as in the Mortgage
hereinafter mentioned provided, and is one of a series known as its First
Mortgage Bonds, Senior Note Series F (herein called the “Senior Note Series F
Bonds”), all bonds issued and to be issued under and equally and ratably
secured (except insofar as any sinking fund or analogous fund, established in
accordance with the provisions of the Mortgage hereinafter mentioned, may
afford additional security for the bonds of any particular series) by an
Indenture, dated as of March 1, 1946, executed by the Company to City Bank
Farmers Trust Company, Trustee (herein, together with any indentures
supplemental thereto, including, but not by way of limitation, the Fifty-fifth
Supplemental Indenture, dated as of April 1, 2004, called the “Mortgage”),
under which The Bank of New York is Successor Trustee (herein called the
“Trustee”), to which Mortgage reference is made for a description of the
property mortgaged and pledged, the nature and extent of the security, the
rights and limitations of rights of the holders of the bonds and of the Company
in respect thereof, the rights, duties and immunities of the Trustee, and the
terms and conditions upon which the bonds are, and are to be, issued and
secured. The Senior Note Series F Bonds are described in the Fifty-fifth
Supplemental Indenture dated as of April 1, 2004 between the Company and the
Trustee (the “Fifty-fifth Supplemental Indenture”).

     Under an Indenture dated as of July 1, 1999 (hereinafter sometimes
referred to as the “Senior Note Indenture”), between the Company and United
States Trust Company of New York, as trustee, under which The Bank of New York
is acting as successor trustee (hereinafter sometimes called the “Senior Note Trustee”), the Company will
issue, concurrently with the issuance of this bond, an issue of notes under the
Senior Note Indenture entitled 5.625% Senior Notes due 2016 (the “New Senior
Notes”). Pursuant to Article IV of the Senior Note Indenture, this bond is
issued to the Senior Note Trustee to secure any and all obligations of the
Company under the New Senior Notes and any other series of senior notes from
time to time outstanding under the Senior Note Indenture. Payment of principal
of, or premium, if any, or interest on, the New Senior Notes shall constitute
payments on this bond as further provided herein and in the Fifty-fifth
Supplemental Indenture.

     As provided in Section 4.09 of the Senior Note Indenture, from and after
the Release Date (as defined in the Senior Note Indenture), the obligations of
the Company with respect to this bond shall be deemed to be satisfied and
discharged, this bond shall cease to secure in any manner any senior notes
outstanding under the Senior Note Indenture, and, pursuant to Section 4.06 of
the Senior Note Indenture, the Senior Note Trustee shall forthwith deliver this
bond to the Company for cancellation.

     Upon any payment of the principal of, premium, if any, and interest on,
all or any portion of the New Senior Notes, whether at maturity or prior to
maturity by redemption or otherwise or upon provision for the payment thereof
having been made in accordance

11

 

with Section 5.01(a) of the Senior Note
Indenture, such Senior Note Series F Bond in a principal amount equal to the
principal amount of such New Senior Notes to the extent of such payment of
principal, premium, if any, and interest, be deemed paid and the obligation of
the Company thereunder to make such payment shall be discharged to such extent
and, in the case of the payment of principal (and premium, if any), such Senior
Note Series F Bond in principal amount equal to the related New Senior Notes
shall be surrendered to the Company for cancellation as provided in Section
4.06 of the Senior Note Indenture. The Trustee may at anytime and all times
conclusively assume that the obligation of the Company to make payments with
respect to the principal of and premium, if any, and interest on any Senior
Note Series F Bond, so far as such payments at the time have become due, has
been fully satisfied and discharged pursuant to the foregoing sentence unless
and until the Trustee shall have received a written notice from the Senior Note
Trustee signed by one of its officers stating (i) that timely payment of
principal of, or premium or interest on, the New Senior Notes referred to above
has not been made, (ii) that the Company is in arrears as to the payments
required to be made by it to the Senior Note Trustee pursuant to the Senior
Note Indenture, and (iii) the amount of the arrearage.

     For purposes of Section 4.07 of the Senior Note Indenture, this bond shall
be deemed to be the “Related Senior Note First Mortgage Bonds” in respect of
the New Senior Notes issued concurrently therewith and referred to above.

     The Mortgage contains provisions permitting the holders of not less than
seventy-five per centum (75%) in principal amount of all the bonds at the time
outstanding, determined and evidenced as provided in the Mortgage, or in case
the rights under the Mortgage of the holders of bonds of one or more, but less
than all, of the series of bonds outstanding shall be affected, the holders of
not less than seventy-five per centum (75%) in principal amount of the outstanding bonds of such one or more series
affected, except that if any such action would affect the bonds of two or more
series, the holders of not less than seventy-five per centum (75%) in principal
amount of outstanding bonds of such two or more series, which need not include
seventy-five per centum (75%) in principal amount of outstanding bonds of each
of such series, determined and evidenced as provided in the Mortgage, on behalf
of the holders of all the bonds, to waive any past default under the Mortgage
and its consequences except a completed default, as defined in the Mortgage, in
respect of the payment of the principal of or interest on any bond or except a
default arising from the creation of any lien ranking prior to or equal with
the lien of the Mortgage on any of the mortgaged property, subject to the
condition that, in case the rights of the holders of less than all of the
series of bonds outstanding shall be affected, no waiver of any past default or
its consequences shall be effective unless approved by the holders of not less
than a majority of all the bonds at the time outstanding. The Mortgage also
contains provisions permitting the Company and the Trustee, with the consent of
the holders of not less than seventy-five per centum (75%) in principal amount
of all the bonds at the time outstanding, determined and evidenced as provided
in the Mortgage, or in case the rights under the Mortgage of the holders of
bonds of one or more, but less than all, of the series of bonds outstanding
shall be affected, then with the consent of the holders of not less than
seventy-five per centum (75%) in principal amount of the outstanding bonds of
such one or more series affected,

12

 

except that if any such action would affect
the bonds of two or more series, the holders of not less than seventy-five per
centum (75%) in principal amount of outstanding bonds of such two or more
series, which need not include seventy-five per centum (75%) in principal
amount of outstanding bonds of each of such series, determined and evidenced as
provided in the Mortgage, to execute supplemental indentures adding any
provisions to or changing in any manner or eliminating any of the provisions of
the Mortgage or modifying in any manner the rights of the holders of the bonds
and coupons thereunto appertaining; provided, however, that no such
supplemental indenture shall (i) extend the fixed maturity of any bonds, or
reduce the rate or extend the time of payment of interest thereon, or reduce
the principal amount thereof, or, subject to the provisions of the Mortgage,
limit the right of a bondholder to institute suit for the enforcement of
payment of principal or interest in accordance with the terms of the bonds,
without the consent of the holder of each bond so affected, or (ii) reduce the
aforesaid percentage of bonds, the holders of which are required to consent to
any such supplemental indenture, without the consent of the holders of all
bonds then outstanding, or (iii) permit the creation of any lien ranking prior
to or equal with the lien of the Mortgage on any of the mortgaged property
without the consent of the holders of all bonds then outstanding, or (iv)
deprive the holder of any outstanding bond of the lien of the Mortgage on any
of the mortgaged property. Any such waiver or consent by the holder of this
bond (unless effectively revoked as provided in the Mortgage) shall be
conclusive and binding upon such holder and upon all future holders of this
bond, irrespective of whether or not any notation of such waiver or consent is
made upon this bond.

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

     The Senior Note Series F Bonds are issuable only in fully registered form
and in denominations of $1,000 or any higher integral multiple of $1,000.

     Senior Note Series F Bonds shall not be redeemed except as set forth below
and except by the surrender thereof by the Senior Note Trustee to the Trustee
for cancellation at a redemption price of zero upon redemption of all other
series of bonds pursuant to Section 8.08 of the Mortgage. In the event the
Company redeems any New Senior Notes referred to above prior to maturity in
accordance with the provisions of the Senior Note Indenture, the Senior Note
Trustee shall on the same date deliver to the Company this Senior Note Series F
Bond for cancellation of a principal amount thereof corresponding to the New
Senior Notes so redeemed, as provided in Section 4.06 of the Senior Note
Indenture. Senior Note Series F Bonds are not redeemable by the operation of
the improvement fund pursuant to Section 5.22 and Section 9.06 of the Indenture
or otherwise or by operation of the maintenance and replacement provisions of
Section 5.07 and Section 9.06 of the Indenture or otherwise or with the
proceeds of released property pursuant to Section 9.06 of the Indenture or
otherwise.

     The Senior Note Series F Bonds shall be immediately redeemed at a
redemption price of 100% of the principal amount thereof, plus interest accrued
to the redemption

13

 

date, in whole, upon a written demand for redemption by the
Senior Note Trustee stating that the principal of all Senior Notes then
outstanding under the Senior Note Indenture have been declared to be
immediately due and payable pursuant to the provisions of the first sentence of
Section 8.01(a) thereof.

     The Mortgage provides that if the Company shall deposit with the Trustee
in trust for the purpose funds sufficient to pay the principal of all of the
bonds of any series, or such of the bonds of any series as have been or are to
be called for redemption, and premium, if any, thereon, and all interest
payable on such bonds to the date on which they become due and payable, at
maturity or upon redemption or otherwise, and complies with the other
provisions of the Mortgage in respect thereof, then from the date of such
deposit such bonds shall no longer be secured by the lien of the Mortgage.

     The principal hereof may be declared or may become due prior to the
express date of the maturity hereof on the conditions, in the manner and at the
time set forth in the Mortgage, upon the occurrence of a completed default as
in the Mortgage provided.

     This bond is not transferable except (i) as required to effect an
assignment to a successor Trustee under the Senior Note Indenture, (ii)
pursuant to Section 4.03 or Section 4.06 of the Senior Note Indenture, or (iii)
in compliance with a final order of a court of competent jurisdiction in
connection with any bankruptcy or reorganization proceeding of the Company.
This bond shall be exchangeable for other registered bonds of the same series
and for the same aggregate principal amount, in the manner and upon the
conditions prescribed in the Mortgage, upon the surrender of such bonds at the
office or agency of the Company in the Borough of Manhattan, The City of New
York. However, notwithstanding the provisions of Section 2.03 of the Mortgage,
no charge shall be made upon any registration of transfer or exchange of bonds
of said series. The Company and the Trustee, any paying agent and any bond
registrar may deem and treat the person in whose name this bond is registered as the absolute owner
hereof, whether or not this bond shall be overdue, for the purpose of receiving
payment and for all other purposes and neither the Company nor the Trustee nor
any paying agent nor any bond registrar shall be affected by any notice to the
contrary.

     No recourse under or upon any obligation, covenant or agreement contained
in the Mortgage, or in any bond or coupon thereby secured, or because of any
indebtedness thereby secured, shall be had against any incorporator, or against
any past, present or future stockholder, officer or director, as such, of the
Company or of any successor corporation, either directly or through the Company
or any successor corporation under any rule of law, statute or constitution, or
by the enforcement of any assessment or by any legal or equitable proceeding or
otherwise; it being expressly agreed and understood that the Mortgage, and the
obligations thereby secured, are solely corporate obligations, and that no
personal liability whatever shall attach to, or be incurred by, such
incorporators, stockholders, officers or directors, as such, of the Company or
of any successor corporation, or any of them because of the incurring of the
indebtedness thereby authorized or under or by reason of any of the
obligations, covenants or agreements contained in the Mortgage or in any of the
bonds or coupons thereby secured, or implied therefrom.

14

 

     This bond shall not become valid or obligatory for any purpose until THE
BANK OF NEW YORK, the Trustee under the Mortgage, or its successor thereunder,
shall have signed the certificate of authentication endorsed hereon.

15

 

     IN WITNESS WHEREOF, JERSEY CENTRAL POWER & LIGHT COMPANY has caused this
bond to be signed in its name by the manual or facsimile signature of its
President or one of its Vice Presidents and its corporate seal, or a facsimile
thereof, to be affixed hereto and attested by the manual or facsimile signature
of its Secretary or one of its Assistant Secretaries.

Dated:

	 	 	 	 	 
	 	JERSEY CENTRAL POWER & LIGHT COMPANY

 	 
	 	By:  	 	 
	 	 	(Vice) President 	 
	 	 	 	 

Attest:

(Corporate) Secretary

16

 

[FORM OF TRUSTEE’S CERTIFICATE]

TRUSTEE’S AUTHENTICATION CERTIFICATE

     This bond is one of the bonds of the series herein designated, provided
for in the within mentioned Mortgage.

	 	 	 	 	 
	 	THE BANK OF NEW YORK

 	 
	 	By:  	 	 
	 	 	Authorized Officer 	 
	 	 	 	 
	 

[END OF FORM OF SENIOR NOTE SERIES F BOND]

ARTICLE III

MISCELLANEOUS

     Section 3.01 Meaning of Certain Terms. For all purposes hereof, except as
the context may otherwise require, (a) all terms contained herein shall have
the meanings given such terms in, and (b) all references herein to sections of
the Original Indenture shall be deemed to be to such sections of, the Original
Indenture as the same heretofore has been or hereafter may be amended by an
indenture or indentures supplemental thereto.

     Section 3.02 Original Indenture and Supplemental Indentures Ratified and
Confirmed. As amended and supplemented by the aforesaid indentures
supplemental thereto and by this Fifty-fifth Supplemental Indenture, the
Original Indenture is in all respects ratified and confirmed and the Original
Indenture and the aforesaid indentures supplemental thereto and this
Fifty-fifth Supplemental Indenture shall be read, taken and construed as one
and the same instrument.

     Section 3.03 Execution in Counterparts. This Fifty-fifth Supplemental
Indenture shall be simultaneously executed in several counterparts, and all
such counterparts executed and delivered, each as an original, shall constitute
but one and the same instrument.

17

 

     IN WITNESS WHEREOF, JERSEY CENTRAL POWER & LIGHT COMPANY, party of the
first part, has caused this instrument to be signed in its name and behalf by
its President or a Vice President, and its corporate seal to be hereunto
affixed and attested by its Secretary or an Assistant Secretary and The Bank of
New York, as Successor Trustee as aforesaid, the party of the second part, in
token of its acceptance of the trust hereby created, has caused this instrument
to be signed in its name and behalf by an Authorized Officer and its corporate
seal to be hereunto affixed and attested by an Authorized Officer, all as of
the day and year first above written.

	 	 	 	 	 
	 	JERSEY CENTRAL POWER & LIGHT COMPANY

 	 
	 	By:  	 	 
	 	 	Richard H. Marsh 	 
	 	 	Senior Vice President and Chief

Financial Officer 	 

ATTEST:

David W. Whitehead

Corporate Secretary

Signed, sealed and delivered by

JERSEY CENTRAL POWER & LIGHT COMPANY

in the presence of:

Ermal Fatusha

James G. Smith

18

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK

As Successor Trustee as aforesaid

 	 
	 	By:  	 	 
	 	 	Patricia Gallagher 	 
	 	 	Vice President 	 

ATTEST:

Mary LaGumina

Vice President

Signed, sealed and delivered by

THE BANK OF NEW YORK

in the presence of:

Barbara Bevelaqua, Vice President

Dorothy Miller, Vice President

19

 

	 	 	 	 	 	 	 
	STATE OF OHIO

	 	 	)	 	 	 
	

	 	 	ss.:
	 
	COUNTY OF SUMMIT

	 	 	)	 	 	 

     BE IT REMEMBERED that on this    day of April, 2004 before me, the
subscriber, a notary public in and for said County and State, personally
appeared David W. Whitehead, the Corporate Secretary of JERSEY CENTRAL POWER &
LIGHT COMPANY, the corporation named in and which executed the foregoing
instrument, who, being by me duly sworn according to law, does depose and say
and make proof to my satisfaction that he resides at 28159 Red Raven Road,
Pepper Pike, Ohio 44124; that he is the Corporate Secretary of JERSEY CENTRAL
POWER & LIGHT COMPANY; that the seal affixed to said instrument is the
corporate seal of said corporation, the same being well known to him; that it
was so affixed by the order of the Board of Directors of said corporation; that
Richard H. Marsh is the Senior Vice President and Chief Financial Officer of
said corporation; that he saw said Richard H. Marsh as such Senior Vice
President and Chief Financial Officer sign such instrument, and affix said seal
thereto and deliver said instrument and heard him declare that he signed,
sealed and delivered said instrument as the voluntary act and deed of said
corporation by its order and by order of its Board of Directors, for the uses
and purposes therein expressed; and that the said David W. Whitehead signed his
name thereto at the same time as subscribing witness, and that Jersey Central
Power & Light Company, the mortgagor, has received a true copy of said
instrument.

	 	 	 
	 

	 	

	

	 	Susie M. Hoisten,
	

	 	Notary Public Residence Summit County
	

	 	Statewide Jurisdiction Ohio
	

	 	My commission expires Dec. 9, 2006
	 
	 	 
	

	 	Subscribed and sworn to before me the
day and year aforesaid
	 
	 	 
	

	 	[NOTARIAL SEAL]

20

 

	 	 	 	 	 	 	 
	STATE OF NEW YORK

	 	 	)	 	 	 
	

	 	 	ss.:
	 
	COUNTY OF NEW YORK

	 	 	)	 	 	 

     BE IT REMEMBERED that on this    day of April, 2004 before me, the
subscriber, a notary public in and for said County and State, personally
appeared Mary LaGumina, a Vice President of THE BANK OF NEW YORK, the
corporation named in and which executed the foregoing instrument, who, being by
me duly sworn according to law, does depose and say and make proof to my
satisfaction that she resides at 36-26 213th Street, Bayside, New York 11361;
that she is a Vice President of THE BANK OF NEW YORK; that the seal affixed to
said instrument is the corporate seal of said corporation, the same being well
known to her; that it was so affixed by her pursuant to authority granted by
the Board of Directors of said corporation; that Patricia Gallagher is a Vice
President of said corporation; that she saw said Patricia Gallagher as such
Vice President sign and deliver said instrument and heard her declare that she
signed and delivered said instrument as the voluntary act and deed of said
corporation pursuant to authority granted by its Board of Directors, for the
uses and purposes therein expressed; and that the said Mary LaGumina signed her
name thereto at the same time as subscribing witness.

	 	 	 
	 

	 	

William J. Cassels
	 
	 	 
	

	 	Subscribed and sworn to before me the
day and year aforesaid
	 
	 	 
	

	 	[NOTARIAL SEAL]

21

 

	 	 	 	 	 	 	 
	STATE OF OHIO

	 	 	)	 	 	 
	

	 	 	ss.:
	 
	COUNTY OF SUMMIT

	 	 	)	 	 	 

     On this    day of April, 2004, before me came Richard H. Marsh, to me
known, who, being by me duly sworn, did say that he resides at 1126 Woodhaven
Boulevard, Fairlawn, Ohio 44333; that he is the Senior Vice President and Chief
Financial Officer of JERSEY CENTRAL POWER & LIGHT COMPANY, one of the
corporations described in and which executed the above instrument; that he
knows the seal of said corporation; that the seal affixed to said instrument is
such corporate seal; that said seal was so affixed by order of the Board of
Directors of said corporation; and that he signed his name to said instrument
by like order.

	 	 	 
	 

	 	

	

	 	Susie M. Hoisten,
	

	 	Notary Public Residence Summit County
	

	 	Statewide Jurisdiction Ohio
	

	 	My commission expires Dec. 9, 2006
	 
	 	 
	

	 	Subscribed and sworn to before me the
day and year aforesaid
	 
	 	 
	

	 	[NOTARIAL SEAL]

22

 

	 	 	 	 	 	 	 
	STATE OF NEW YORK

	 	 	)	 	 	 
	

	 	 	ss.:
	 
	COUNTY OF NEW YORK

	 	 	)	 	 	 

     On this    day of April, 2004, before me came Patricia Gallagher, to me
known, who, being by me duly sworn, did say that she resides at 3684 Alcona
Street, Seaford, New York 11783; that she is a Vice President of THE BANK OF
NEW YORK, one of the corporations described in and which executed the above
instrument; that she knows the seal of said corporation; that the seal affixed
to said instrument is such corporate seal; that said seal was so affixed by
authority of the Board of Directors of said corporation; and that she signed
her name to said instrument by like authority.

	 	 	 
	 

	 	

	

	 	William J. Cassels
	 
	 	 
	

	 	Subscribed and sworn to before me the
day and year aforesaid
	 
	 	 
	

	 	[NOTARIAL SEAL]

23

 

CERTIFICATE OF RESIDENCE

     The Bank of New York, Successor Trustee within named, hereby certifies
that its precise residence is 101 Barclay Street, in the Borough of Manhattan,
in the City of New York, in the State of New York.

	 	 	 	 	 
	 	THE BANK OF NEW YORK

 	 
	 	By:  	 	 
	 	 	Vice President 	 
	 	 	 	 
	 

24<PAGE>

                                                                  EXECUTION COPY

                                                                    EXHIBIT 4(b)

================================================================================

                          REGISTRATION RIGHTS AGREEMENT

                           Dated as of April 23, 2004

                                     between

                      Jersey Central Power & Light Company,
                                    as Issuer

                                       and

                            Barclays Capital Inc. and
                               UBS Securities LLC
                  as Representatives of the Initial Purchasers

================================================================================

<PAGE>

                          REGISTRATION RIGHTS AGREEMENT

            This Registration Rights Agreement (the "Agreement") is made and
entered into this 23rd day of April, 2004, by and between Jersey Central Power &
Light Company, a Pennsylvania corporation (the "Issuer") and Barclays Capital
Inc. and UBS Securities LLC, as representatives of the Initial Purchasers (as
defined below).

            This Agreement is made pursuant to the Purchase Agreement, dated
April 23, 2004 (the "Purchase Agreement"), between the Issuer and the Initial
Purchasers, which provides for the sale by the Issuer to the Initial Purchasers
of $300,000,000 aggregate principal amount of the Issuer's 5.625% Senior Notes
due 2016 (the "Notes"). In order to induce the Initial Purchasers to enter into
the Purchase Agreement, the Issuer has agreed to provide to the Initial
Purchasers and their direct and indirect transferees the registration rights set
forth in this Agreement. The execution and delivery of this Agreement is a
condition to the closing under the Purchase Agreement.

            In consideration of the foregoing, the parties hereto agree as
follows:

            1. Definitions. As used in this Agreement, the following capitalized
defined terms shall have the following meanings:

            "1933 Act" shall mean the Securities Act of 1933, as amended from
      time to time.

            "1934 Act" shall mean the Securities Exchange Act of 1934, as
      amended from time to time.

            "Closing Date" shall mean the Closing Time as defined in the
      Purchase Agreement.

            "Depositary" shall mean The Depository Trust Company, or any other
      depositary appointed by the Issuer, provided, however, that such
      depositary must have an address in the Borough of Manhattan, in The City
      of New York and, provided further, that if the Notes are not held in
      book-entry form, references herein to the Depositary shall be deemed to
      refer to the Holders.

            "Exchange Notes" shall mean the Issuer's [ ]% Exchange Senior Notes
      due [ ] containing terms identical the $300,000,000 aggregate principal
      amount of the Issuer's [ ]% Senior Notes due [ ] in all material respects
      (except in each case for references to certain interest rate provisions,
      restrictions on transfers and restrictive legends), to be offered to
      Holders of Notes in exchange for Registrable Notes pursuant to the
      Exchange Offer.

            "Exchange Offer" shall mean the exchange offer by the Issuer of
      Exchange Notes for Registrable Notes pursuant to Section 2.1 hereof.

<PAGE>

            "Exchange Offer Registration" shall mean a registration under the
      1933 Act effected pursuant to Section 2.1 hereof.

            "Exchange Offer Registration Statement" shall mean an exchange offer
      registration statement on Form S-4 (or, if applicable, on another
      appropriate form), and all amendments and supplements to such registration
      statement, including the Prospectus contained therein, all exhibits
      thereto and all documents incorporated by reference therein.

            "Exchange Period" shall have the meaning set forth in Section 2.1
      hereof.

            "Holder" shall mean any beneficial owner from time to time of
      Registrable Notes (including any of the Initial Purchasers, for so long as
      it owns any Registrable Notes).

            "Indenture" shall mean the Senior Note Indenture relating to the
      Notes, dated as of July 1, 1999 among the Issuer, and The Bank of New
      York, successor to United States Trust Company of New York, as trustee, as
      the same may be amended, supplemented, waived or otherwise modified from
      time to time in accordance with the terms thereof.

            "Initial Purchasers" shall mean Barclays Capital Inc., UBS
      Securities LLC, Credit, BNY Capital Markets, Inc. and Suisse First Boston
      LLC.

            "Issuer" shall have the meaning set forth in the preamble and shall
      also include the Issuer's successors.

            "Majority Holders" shall mean the Holders of a majority of the
      aggregate principal amount of Outstanding (as defined in the Indenture)
      Registrable Notes of each series; provided that whenever the consent or
      approval of Holders of a specified percentage of Registrable Notes is
      required hereunder, Registrable Notes held by the Issuer or any Affiliate
      (as defined in the Indenture) of the Issuer shall be disregarded in
      determining whether such consent or approval was given by the Holders of
      such required percentage amount.

            "Notes" shall have the meaning set forth in the preamble to this
      Agreement.

            "Participating Broker-Dealer" shall mean Barclays Capital Inc. and
      UBS Securities LLC and any other broker-dealer which makes a market in the
      Notes and exchanges Registrable Notes in the Exchange Offer for Exchange
      Notes.

            "Person" shall mean an individual, partnership (general or limited),
      corporation, limited liability company, trust or unincorporated
      organization, or a government or agency or political subdivision thereof.

            "Prospectus" shall mean the prospectus included in a Registration
      Statement, including any preliminary prospectus, and any such prospectus
      as amended or supplemented by any prospectus supplement, including any
      such prospectus supplement with respect to the terms of the offering of
      any portion of the Registrable Notes covered by a Shelf Registration
      Statement, and by all other amendments and supplements to a

                                       2

<PAGE>

      prospectus, including pre-effective and post-effective amendments, and in
      each case including all material incorporated by reference therein.

            "Purchase Agreement" shall have the meaning set forth in the
      preamble.

            "Registrable Notes" shall mean the Notes of any Holder; provided,
      however, that such Notes shall cease to be Registrable Notes when (i) a
      Registration Statement with respect to such Notes shall have been declared
      effective under the 1933 Act and such Notes shall have been disposed of
      pursuant to such Registration Statement, (ii) such Notes are eligible for
      resale to the public pursuant to Rule 144 (or any similar provision then
      in force, but not Rule 144A) under the 1933 Act, (iii) such Notes shall
      have ceased to be outstanding or (iv) the Exchange Offer is consummated
      (except in the case of Notes purchased from the Issuer and continued to be
      held by the Initial Purchasers).

            "Registration Expenses" shall mean any and all expenses incident to
      performance of or compliance by the Issuer with this Agreement, regardless
      of whether a Registration Statement becomes effective, including without
      limitation: (i) all SEC, stock exchange or National Association of
      Securities Dealers, Inc. (the "NASD") registration and filing fees,
      including, if applicable, the reasonable fees and expenses of any
      "qualified independent underwriter" (and its counsel) that is required to
      be retained by any Holder of Registrable Notes in accordance with the
      rules and regulations of the NASD, (ii) all reasonable fees and expenses
      incurred in connection with compliance with state securities or blue sky
      laws and compliance with the rules of the NASD (including reasonable fees
      and disbursements of counsel for any underwriters or Holders in connection
      with blue sky qualification of any of the Exchange Notes or Registrable
      Notes and any filings with the NASD), (iii) all expenses of any Persons in
      preparing or assisting in preparing, word processing, printing and
      distributing any Registration Statement, any Prospectus, any amendments or
      supplements thereto, any underwriting agreements, securities sales
      agreements and other documents relating to the performance of and
      compliance with this Agreement, (iv) all fees and expenses incurred in
      connection with the listing, if any, of any of the Registrable Notes on
      any securities exchange or exchanges, (v) all rating agency fees, (vi) the
      fees and disbursements of counsel for the Issuer and of the independent
      public accountants of the Issuer, including the expenses of any special
      audits or "cold comfort" letters required by or incident to such
      performance and compliance, (vii) the fees and expenses of the Trustee,
      and any escrow agent or custodian, (viii) the reasonable fees and expenses
      of the Initial Purchasers in connection with the Exchange Offer, including
      the reasonable fees and expenses of counsel to the Initial Purchasers in
      connection therewith, and (ix) any reasonable fees and disbursements of
      the underwriters customarily required to be paid by issuers or sellers of
      securities and the reasonable fees and expenses of any special experts
      retained by the Issuer in connection with any Registration Statement, but
      excluding underwriting discounts and commissions and transfer taxes, if
      any, relating to the sale or disposition of Registrable Notes by a Holder,
      it being understood that in no event shall the Issuer be liable for the
      fees and expenses of more than one counsel (in addition to any local
      counsel) in connection with registration pursuant to either Section 2.1 or
      2.2.

                                       3

<PAGE>

            "Registration Statement" shall mean any registration statement of
      the Issuer which covers any of the Exchange Notes or Registrable Notes
      pursuant to the provisions of this Agreement, and all amendments and
      supplements to any such Registration Statement, including pre-effective
      and post-effective amendments, in each case including the Prospectus
      contained therein, all exhibits thereto and all material incorporated by
      reference therein.

            "SEC" shall mean the United States Securities and Exchange
      Commission or any successor agency or government body performing the
      functions currently performed by the United States Securities and Exchange
      Commission.

            "Shelf Registration" shall mean a registration effected pursuant to
      Section 2.2 hereof.

            "Shelf Registration Statement" shall mean a "shelf" registration
      statement of the Issuer pursuant to the provisions of Section 2.2 of this
      Agreement which covers all of the Registrable Notes, of each series, on an
      appropriate form under Rule 415 under the 1933 Act, or any similar rule
      that may be adopted by the SEC, and all amendments and supplements to such
      registration statement, including post-effective amendments, in each case
      including the Prospectus contained therein, all exhibits thereto and all
      material incorporated by reference therein.

            "Trustee" shall mean the trustee with respect to the Notes under the
      Indenture.

            2. Registration Under the 1933 Act.

            2.1 Exchange Offer. The Issuer shall (A) prepare and, as soon as
practicable following the Closing Date, file with the SEC an Exchange Offer
Registration Statement with respect to a proposed Exchange Offer and the
issuance and delivery to the Holders, in exchange for the Registrable Notes of
each series, a like principal amount of Exchange Notes of such series, (B) use
its reasonable best efforts to cause the Exchange Offer Registration Statement
to be declared effective under the 1933 Act not later than 180 calendar days
following the Closing Date, (C) use its reasonable best efforts to keep the
Exchange Offer Registration Statement effective until the closing of the
Exchange Offer and (D) use its reasonable best efforts to cause the Exchange
Offer to be consummated within 210 calendar days following the Closing Date. The
Exchange Notes will be issued under the Indenture. Upon the effectiveness of the
Exchange Offer Registration Statement, the Issuer shall promptly commence the
Exchange Offer, it being the objective of such Exchange Offer to enable each
Holder eligible and electing to exchange Registrable Notes for Exchange Notes
(assuming that such Holder (a) is not an affiliate of the Issuer within the
meaning of Rule 405 under the 1933 Act, (b) is not a broker-dealer tendering
Registrable Notes acquired directly from the Issuer for its own account, (c)
acquired the Exchange Notes in the ordinary course of such Holder's business and
(d) has no arrangements or understandings with any person to participate in the
Exchange Offer for the purpose of distributing the Exchange Notes) to transfer
such Exchange Notes from and after their receipt without any limitations or
restrictions under the 1933 Act and without material restrictions under the
securities laws of a majority of the several states of the United States.

                                       4

<PAGE>

            In connection with the Exchange Offer, the Issuer shall:

            (a) mail to the Depositary a copy of the Prospectus forming part of
      the Exchange Offer Registration Statement together with an appropriate
      letter of transmittal and related documents;

            (b) use its reasonable best efforts to keep the Exchange Offer open
      for acceptance for a period of not less than 20 business days after the
      date notice thereof is mailed to the Depositary (or longer if required by
      applicable law) (such period referred to herein as the "Exchange Period");

            (c) utilize the services of the Depositary for the Exchange Offer;

            (d) permit Holders to withdraw tendered Registrable Notes at any
      time prior to 5:00 p.m. (Eastern Time) on the last business day of the
      Exchange Period, by sending to the institution specified in the notice, a
      telegram, telex, facsimile transmission or letter setting forth the name
      of such Holder, the principal, the principal amount of Registrable Notes
      delivered for exchange, and a statement that such Holder is withdrawing
      his election to have such Notes exchanged;

            (e) notify the Depositary that any Registrable Notes not tendered
      will remain outstanding and continue to accrue interest, but will not
      retain any rights under this Agreement (except in the case of the Initial
      Purchasers and Participating Broker-Dealers as provided herein); and

            (f) otherwise comply in all respects with all applicable laws
      relating to the Exchange Offer.

            As soon as practicable after the close of the Exchange Offer, the
      Issuer shall:

                  (i) accept for exchange all Registrable Notes duly tendered
            and not validly withdrawn pursuant to the Exchange Offer in
            accordance with the terms of the Exchange Offer Registration
            Statement and the letter of transmittal which shall be an exhibit
            thereto;

                  (ii) deliver to the Trustee for cancellation all Registrable
            Notes so accepted for exchange; and

                  (iii) cause the Trustee promptly to authenticate and deliver
            the respective Exchange Notes to each Holder of Registrable Notes so
            accepted for exchange in a principal amount equal to the principal
            amount of the Registrable Notes of such Holder so accepted for
            exchange.

            The Issuer shall use its reasonable best efforts to keep the
Exchange Offer Registration Statement effective and to amend and supplement the
Prospectus contained therein, in order to permit such Prospectus to be lawfully
delivered by all Participating Broker-Dealers subject to the prospectus delivery
requirements of the 1933 Act for such period of time as such Participating
Broker-Dealers must comply with such requirements in order to resell the

                                       5

<PAGE>

Exchange Notes; provided, however, that (i) such period shall be the lesser of
90 days after the consummation of the Exchange Offer and the date on which all
Participating Broker-Dealers have sold all Exchange Notes held by them (unless
such period is extended pursuant to Section 3(k) below) and (ii) the Issuer
shall make such Prospectus, and any amendment or supplement thereto, available
to any such Participating Broker-Dealer for use in connection with any resale of
any Exchange Notes for a period of the lesser of 90 days after the consummation
of the Exchange Offer and the date on which all Participating Broker-Dealers
have sold all Exchange Notes held by them (unless such period is extended
pursuant to Section 3(k) below).

            Interest on the Exchange Notes of each series will accrue from the
most recent interest payment date to which interest has been paid on the
respective Registrable Notes surrendered in exchange therefor or, if no interest
has been paid on such Registrable Notes, from the Closing Date. The Exchange
Offer shall not be subject to any conditions, other than (i) that the Exchange
Offer, or the making of any exchange by a Holder, does not violate applicable
law or any applicable interpretation of the staff of the SEC, (ii) the due
tendering of Registrable Notes in accordance with the Exchange Offer, (iii) that
each Holder of Registrable Notes exchanged in the Exchange Offer shall have
represented (x) that all Exchange Notes to be received by it shall be acquired
in the ordinary course of its business (y) that it is not an affiliate of the
Issuer and (z) that at the time of the consummation of the Exchange Offer it
shall have no arrangement or understanding with any person to participate in the
distribution (within the meaning of the 1933 Act) of the Exchange Notes and
shall have made such other representations as may be reasonably necessary under
applicable SEC rules, regulations or interpretations to render the use of Form
S-4 or other appropriate form under the 1933 Act available and (iv) that no
action or proceeding shall have been instituted or threatened in any court or by
or before any governmental agency with respect to the Exchange Offer which, in
the judgment of the Issuer, would reasonably be expected to impair the ability
of the Issuer to proceed with the Exchange Offer. The Issuer shall inform the
Initial Purchasers of the names and addresses of the Holders to whom the
Exchange Offer is made, and the Initial Purchasers shall have the right to
contact such Holders and otherwise facilitate the tender of Registrable Notes in
the Exchange Offer. Each Holder of Registrable Notes who wishes to exchange such
Registrable Notes for Exchange Notes in the Exchange Offer will be required to
make certain customary representations in connection therewith, including
representations that (i) that all Exchange Notes to be received by it were
acquired in the ordinary course of its business, (ii) that it is not an
affiliate of the Issuer and (iii) that at the time of the consummation of the
Exchange Offer it shall have no arrangement or understanding with any person to
participate in the distribution (within the meaning of the 1933 Act) of the
Exchange Notes and shall have made such other representations as may be
reasonably necessary under applicable SEC rules, regulations or interpretations
to render the use of Form S-4 or other appropriate form under the 1933 Act
available. Each Holder hereby acknowledges and agrees that any Participating
Broker-Dealer and any such Holder using the Exchange Offer to participate in a
distribution of the Exchange Notes: (1) could not under SEC policy as in effect
on the date of this Agreement rely on the position of the SEC enunciated in
Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon Capital Holdings
Corporation (available May 13, 1988), as interpreted in the SEC's letter to
Shearman & Sterling dated July 2, 1993, and similar no-action letters (including
any no-action letter obtained based on the representation in clause (i) above),
and (2) must comply with the registration and prospectus delivery requirements
of the 1933 Act in connection with the secondary resale transaction and that
such a secondary resale transaction should be covered by an effective
registration statement

                                       6

<PAGE>

containing the selling security holder information required by Items 507 and
508, as applicable, of Regulation S-K, the SEC standard instructions for filing
forms under the 1933 Act, if the resales are of Exchange Notes obtained by such
Holder in exchange for Notes acquired by such Holder directly from the Issuer or
an affiliate of the Issuer.

            2.2 Shelf Registration. (i) If, because of any changes in law, SEC
rules or regulations or applicable interpretations thereof by the staff of the
SEC, the Issuer is not permitted to effect the Exchange Offer as contemplated by
Section 2.1 hereof, (ii) if for any other reason (A) the Exchange Offer
Registration Statement is not declared effective within 180 calendar days
following the Closing Date or (B) the Exchange Offer is not consummated within
210 calendar days after the Closing Date (provided that the Issuer is not then
actively pursuing such effectiveness or consummation, as the case may be), (iii)
upon the written request of the Initial Purchasers with respect to any
Registrable Notes which it acquired directly from the Issuer, (iv) upon the
written request of any Holder that either (A) is not permitted pursuant to
applicable law, SEC rules and regulations or applicable interpretations thereof
by the staff of the SEC to participate in the Exchange Offer or (B) participates
in the Exchange Offer and does not receive fully tradable Exchange Notes
pursuant to the Exchange Offer, or (v) if the Issuer so elects, then in case of
each of clauses (i) through (v) the Issuer shall, at its cost:

            (a) As promptly as practicable, file with the SEC, and thereafter
      shall use its reasonable best efforts to cause to be declared effective as
      promptly as practicable but no later than 180 calendar days after the
      Closing Date, a Shelf Registration Statement relating to the offer and
      sale of the Registrable Notes by the Holders from time to time in
      accordance with the methods of distribution elected by the Majority
      Holders participating in the Shelf Registration and set forth in such
      Shelf Registration Statement.

            (b) Use its reasonable best efforts to keep the Shelf Registration
      Statement continuously effective in order to permit the Prospectus forming
      part thereof to be usable by Holders for a period ending on the earliest
      of (i) two years from the Closing Date, (ii) the date on which the
      Registrable Notes become eligible for resale without volume limitations
      pursuant to Rule 144 under the 1933 Act, or (iii) for such shorter period
      that will terminate when all Registrable Notes of each series covered by
      the Shelf Registration Statement have been sold pursuant to the Shelf
      Registration Statement or cease to be outstanding or otherwise to be
      Registrable Notes.

            (c) Notwithstanding any other provisions hereof, use its reasonable
      best efforts to ensure that (i) any Shelf Registration Statement and any
      amendment thereto and any Prospectus forming part thereof and any
      supplement thereto complies in all material respects with the 1933 Act and
      the rules and regulations thereunder, (ii) any Shelf Registration
      Statement and any amendment thereto does not, when it becomes effective,
      contain an untrue statement of a material fact or omit to state a material
      fact required to be stated therein or necessary to make the statements
      therein not misleading and (iii) any Prospectus forming part of any Shelf
      Registration Statement, and any supplement to such Prospectus (as amended
      or supplemented from time to time), does not include an untrue statement
      of a material fact or omit to state a material fact necessary in order to
      make the statements, in light of the circumstances under which they were
      made, not misleading.

                                       7

<PAGE>

            The Issuer further agrees, if necessary, to supplement or amend the
Shelf Registration Statement, as required by Section 3(b) below, and to furnish
to the Depositary copies of any such supplement or amendment as promptly as
reasonably practicable after its being used or filed with the SEC.

            No Holder of Registrable Notes shall be entitled to include any of
its Registrable Notes in any Shelf Registration Statement pursuant to this
Agreement unless and until such Holder agrees in writing to be bound by all of
the provisions of this Agreement applicable to such Holder and furnishes to the
Issuer in writing, within 15 days after receipt of a request therefor, such
information as the Issuer may, after conferring with counsel with regard to
information relating to Holders that would be required by the SEC to be included
in such Shelf Registration Statement or Prospectus included therein, reasonably
request for inclusion in any Shelf Registration Statement or Prospectus included
therein. Each Holder as to which any Shelf Registration is being effected agrees
promptly to furnish to the Issuer all information with respect to such Holder
necessary to make the information previously furnished to the Issuer by such
Holder not materially misleading.

            2.3 Expenses. The Issuer shall pay all Registration Expenses in
connection with the registration pursuant to Section 2.1 or 2.2. Each Holder
shall pay all underwriting discounts and commissions and transfer taxes, if any,
relating to the sale or disposition of such Holder's Registrable Notes pursuant
to the Shelf Registration Statement.

            2.4 Effectiveness. (a) The Issuer will be deemed not to have used
its reasonable best efforts to cause the Exchange Offer Registration Statement
or the Shelf Registration Statement, as the case may be, to become, or to
remain, effective during the requisite period if the Issuer voluntarily takes
any action that would, or omits to take any action which omission would, result
in any such Registration Statement not being declared effective or in the
Holders of Registrable Notes covered thereby not being able to exchange or offer
and sell such Registrable Notes during that period as and to the extent
contemplated hereby, unless such action is required by applicable law.

            (b) An Exchange Offer Registration Statement pursuant to Section 2.1
      hereof or a Shelf Registration Statement pursuant to Section 2.2 hereof
      will not be deemed to have become effective unless it has been declared
      effective by the SEC; provided, however, that if, after it has been
      declared effective, the offering of Registrable Notes pursuant to a Shelf
      Registration Statement is interfered with by any stop order, injunction or
      other order or requirement of the SEC or any other governmental agency or
      court, such Registration Statement will be deemed not to have become
      effective during the period of such interference until the offering of
      Registrable Notes pursuant to such Registration Statement may legally
      resume.

            2.5 Interest. The Notes will provide that if the Exchange Offer is
not consummated and the Shelf Registration Statement is not declared effective
on or prior to the date that is 210 days after the Closing Date, the interest
rate on the Notes will be increased by 0.25% per annum commencing on the date
that is 210 days after the Closing Date, until the Exchange Offer is consummated
or the Shelf Registration Statement is declared effective by the SEC; provided,
that in the case of a Shelf Registration Statement, if the Issuer is unable to
cause

                                       8

<PAGE>

such Shelf Registration Statement to become effective because Holders of
Registrable Notes have not provided information with respect to themselves as
required by law to be included therein pursuant to the Issuer's request as
provided herein, such 0.25% increase in the interest rate shall be payable only
to Holders that have furnished such information required by law to be included
therein to the Issuer pursuant to its request hereunder from but excluding the
date such information is provided to the Issuer to but excluding the date the
Shelf Registration Statement is declared effective by the SEC.

            2.6 Specific Enforcement. Without limiting the remedies available to
the Initial Purchasers and the Holders, the Issuer acknowledges that any failure
by the Issuer to comply with its obligations under Sections 2.1 and 2.2 hereof
may result in material irreparable injury to the Initial Purchasers or the
Holders for which there is no adequate remedy at law, that it will not be
possible to measure damages for such injuries precisely and that, in the event
of any such failure, the Initial Purchasers or any Holder may obtain such relief
as may be required to specifically enforce the Issuer's obligations under
Sections 2.1 and 2.2 hereof.

            3. Registration Procedures. In connection with the obligations of
the Issuer with respect to Registration Statements pursuant to Sections 2.1 and
2.2 hereof, the Issuer shall:

            (a) prepare and file with the SEC a Registration Statement, within
      the relevant time period specified in Section 2, on the appropriate form
      under the 1933 Act, which form (i) shall be selected by the Issuer, (ii)
      shall in the case of a Shelf Registration, be available for the sale of
      the Registrable Notes by the selling Holders thereof, (iii) shall comply
      as to form in all material respects with the requirements of the
      applicable form and include or incorporate by reference all financial
      statements required by the SEC to be filed therewith or incorporated by
      reference therein, and (iv) shall comply in all respects with the
      requirements of Regulation S-T under the 1933 Act, and use its best
      efforts to cause such Registration Statement to become effective and
      remain effective in accordance with Section 2 hereof;

            (b) prepare and file with the SEC such amendments and post-effective
      amendments to each Registration Statement as may be necessary under
      applicable law to keep such Registration Statement effective for the
      applicable period; and cause each Prospectus to be supplemented by any
      required prospectus supplement, and as so supplemented to be filed
      pursuant to Rule 424 under the 1933 Act and comply with the provisions of
      the 1933 Act applicable to them with respect to the disposition of all
      securities covered by each Registration Statement during the applicable
      period in accordance with the intended method or methods of distribution
      by the selling Holders thereof;

            (c) in the case of a Shelf Registration, (i) notify the Depositary,
      at least five (5) business days prior to filing, that a Shelf Registration
      Statement with respect to the Registrable Notes is being filed and
      advising the Depositary that the distribution of Registrable Notes will be
      made in accordance with the method selected by the Majority Holders
      participating in the Shelf Registration; (ii) furnish to the Depositary
      and to each underwriter of an underwritten offering of Registrable Notes,
      if any, without charge, as many copies of each Prospectus, including each
      preliminary Prospectus, and any

                                       9

<PAGE>

      amendment or supplement thereto and such other documents as the Depositary
      or underwriter may reasonably request, including financial statements and
      schedules and, if the Depositary so requests, all exhibits in order to
      facilitate the public sale or other disposition of the Registrable Notes;
      and (iii) hereby consent to the use of the Prospectus or any amendment or
      supplement thereto by each of the selling Holders of Registrable Notes in
      connection with the offering and sale of the Registrable Notes covered by
      the Prospectus or any amendment or supplement thereto;

            (d) use its best efforts to register or qualify the Registrable
      Notes under all applicable state securities or "blue sky" laws of such
      jurisdictions as any Holder of Registrable Notes covered by a Registration
      Statement and each underwriter of an underwritten offering of Registrable
      Notes shall reasonably request in writing by the time the applicable
      Registration Statement is declared effective by the SEC, and do any and
      all other acts and things which may be reasonably necessary or advisable
      to enable each such Holder and underwriter to consummate the disposition
      in each such jurisdiction of such Registrable Notes owned by such Holder;
      provided, however, that the Issuer shall not be required to (i) qualify as
      a foreign corporation or as a dealer in securities in any jurisdiction
      where it would not otherwise be required to qualify but for this Section
      3(d), or (ii) take any action which would subject it to general service of
      process or taxation in any such jurisdiction where it is not then so
      subject;

            (e) notify promptly each Holder of Registrable Notes under a Shelf
      Registration or any Participating Broker-Dealer who has notified the
      Issuer that it is utilizing the Exchange Offer Registration Statement as
      provided in paragraph (f) below, and, if requested by such Holder or
      Participating Broker-Dealer, confirm such advice in writing promptly (i)
      when a Registration Statement has become effective and when any
      post-effective amendments and supplements thereto become effective, (ii)
      of any request by the SEC or any state securities authority for
      post-effective amendments and supplements to a Registration Statement and
      Prospectus or for additional information after the Registration Statement
      has become effective, (iii) of the issuance by the SEC or any state
      securities authority of any stop order suspending the effectiveness of a
      Registration Statement or the initiation of any proceedings for that
      purpose, (iv) in the case of a Shelf Registration, if, between the
      effective date of a Registration Statement and the closing of any sale of
      Registrable Notes covered thereby, the representations and warranties of
      the Issuer contained in any underwriting agreement, securities sales
      agreement or other similar agreement, if any, relating to the offering
      cease to be true and correct in all material respects, (v) of the
      happening of any event or the discovery of any facts during the period a
      Shelf Registration Statement is effective which makes any statement made
      in such Registration Statement or related Prospectus untrue in any
      material respect or which requires the making of any changes in such
      Registration Statement or Prospectus in order to make the statements
      therein not misleading, and (vi) of the receipt by the Issuer of any
      notification with respect to the suspension of the qualification of the
      Registrable Notes or the Exchange Notes, as the case may be, for sale in
      any jurisdiction or the initiation or threatening of any proceeding for
      such purpose;

            (f) in the case of the Exchange Offer Registration Statement (i)
      include in the Prospectus contained in the Exchange Offer Registration
      Statement a section entitled

                                       10

<PAGE>

      "Plan of Distribution" which section shall be reasonably acceptable to the
      Initial Purchasers or another representative of the Participating
      Broker-Dealers and shall contain a summary statement of the positions
      taken or policies made by the staff of the SEC with respect to the
      potential "underwriter" status of any broker-dealer that holds Registrable
      Notes acquired for its own account as a result of market-making activities
      or other trading activities and that will be the beneficial owner (as
      defined in Rule 13d-3 under the Exchange Act) of Exchange Notes to be
      received by such broker-dealer in the Exchange Offer, whether such
      positions or policies have been publicly disseminated by the staff of the
      SEC or such positions or policies, in the reasonable judgment of the
      Initial Purchasers and their counsel, represent the prevailing views of
      the staff of the SEC, including a statement that any such broker-dealer
      who receives Exchange Notes for Registrable Notes pursuant to the Exchange
      Offer may be deemed a statutory underwriter and must deliver a prospectus
      meeting the requirements of the 1933 Act in connection with any resale of
      such Exchange Notes, (ii) furnish to each Participating Broker-Dealer who
      has delivered to the Issuer the notice referred to in Section 3(e),
      without charge, as many copies of each Prospectus included in the Exchange
      Offer Registration Statement, including any preliminary prospectus, and
      any amendment or supplement thereto, as such Participating Broker-Dealer
      may reasonably request, (iii) hereby consent to the use of the Prospectus
      forming part of the Exchange Offer Registration Statement or any amendment
      or supplement thereto, by any person subject to the prospectus delivery
      requirement of the SEC, including all Participating Broker-Dealers, in
      connection with the sale or transfer of the Exchange Notes covered by the
      Prospectus or any amendment or supplement thereto, and (iv) include in the
      transmittal letter or similar documentation to be executed by an exchange
      offeree in order to participate in the Exchange Offer (x) the following
      provision:

              "if the exchange offeree is a broker-dealer holding
              Registrable Notes acquired for its own account as a
              result of market-making activities or other trading
              activities, it will deliver a prospectus meeting
              the requirements of the 1933 Act in connection with
              any resale of Exchange Notes received in respect of
              such Registrable Notes pursuant to the Exchange
              Offer;" and

      (y) a statement to the effect that by a broker-dealer making the
      acknowledgment described in clause (x) and by delivering a Prospectus in
      connection with the exchange of Registrable Notes, the broker-dealer will
      not be deemed to admit that it is an underwriter within the meaning of the
      1933 Act;

            (g) (i) in the case of an Exchange Offer, furnish counsel for the
      Initial Purchasers and (ii) in the case of a Shelf Registration, furnish
      counsel for the Holders of Registrable Notes, copies of any comment
      letters received from the SEC or any other request by the SEC or any state
      securities authority for amendments or supplements to a Registration
      Statement and Prospectus or for additional information;

            (h) make every reasonable effort to obtain the withdrawal of any
      order suspending the effectiveness of a Registration Statement at the
      earliest possible moment;

                                       11

<PAGE>

            (i) in the case of a Shelf Registration, furnish to the Depositary,
      and each underwriter, if any, without charge, at least one conformed copy
      of each Registration Statement and any post-effective amendment thereto,
      including financial statements and schedules (without documents
      incorporated therein by reference and all exhibits thereto, unless
      requested);

            (j) in the case of a Shelf Registration, cooperate with the selling
      Holders of Registrable Notes to facilitate the timely preparation and
      delivery of certificates representing Registrable Notes to be sold and not
      bearing any restrictive legends; and enable such Registrable Notes to be
      in such denominations (consistent with the provisions of the Indenture)
      and registered in such names as the selling Holders or the underwriters,
      if any, may reasonably request at least three (3) business days prior to
      the closing of any sale of Registrable Notes;

            (k) in the case of a Shelf Registration, upon the occurrence of any
      event or the discovery of any facts, each as contemplated by Sections
      3(e)(ii), 3(e)(iv), 3(e)(v) and 3(e)(vi) hereof, use its best efforts to
      prepare a supplement or post-effective amendment to the Registration
      Statement or the related Prospectus or any document incorporated therein
      by reference or file any other required document so that, as thereafter
      delivered to the purchasers of the Registrable Notes or Participating
      Broker-Dealers, such Prospectus will not contain at the time of such
      delivery any untrue statement of a material fact or omit to state a
      material fact necessary to make the statements therein, in light of the
      circumstances under which they were made, not misleading; and notify each
      Holder to suspend use of the Prospectus as promptly as practicable after
      the occurrence of such an event, and each Holder hereby agrees to suspend
      use of the Prospectus until such time as such Holder has received from the
      Issuer an amended or supplemented Prospectus correcting such misstatement
      or omission;

            (l) in the case of a Shelf Registration, a reasonable time prior to
      the filing of any Registration Statement, any Prospectus, any amendment to
      a Registration Statement or amendment or supplement to a Prospectus or any
      document which is to be incorporated by reference into a Registration
      Statement or a Prospectus after initial filing of a Registration
      Statement, provide copies of such document to the Initial Purchasers on
      behalf of such Holders; and make representatives of the Issuer as shall be
      reasonably requested by the Holders of Registrable Notes, or the Initial
      Purchasers on behalf of such Holders, available for discussion of such
      document;

            (m) obtain a CUSIP number for all Exchange Notes or Registrable
      Notes, as the case may be, not later than the effective date of a
      Registration Statement, and provide the Trustee with printed certificates
      for the Exchange Notes or the Registrable Notes, as the case may be, in a
      form eligible for deposit with the Depositary;

            (n) (i) cause the Indenture to be qualified under the Trust
      Indenture Act of 1939, as amended (the "TIA"), in connection with the
      registration of the Exchange Notes or Registrable Notes, as the case may
      be, (ii) cooperate with the Trustee and the Holders to effect such changes
      to the Indenture as may be required for the Indenture to be so qualified
      in accordance with the terms of the TIA, and (iii) execute, and use its
      best

                                       12

<PAGE>

      efforts to cause the Trustee to execute, all documents as may be required
      to effect such changes, and all other forms and documents required to be
      filed with the SEC to enable the Indenture to be so qualified in a timely
      manner;

            (o) in the case of a Shelf Registration, enter into agreements
      (including underwriting agreements) and take all other customary and
      appropriate actions in order to expedite or facilitate the disposition of
      such Registrable Notes and in such connection whether or not an
      underwriting agreement is entered into and whether or not the registration
      is an underwritten registration:

                  (i) make such representations and warranties to the Holders of
            such Registrable Notes and the underwriters, if any, in form,
            substance and scope as are customarily made by issuers to
            underwriters in similar underwritten offerings as may be reasonably
            requested by them;

                  (ii) obtain opinions of counsel to the Issuer and updates
            thereof (which counsel and opinions (in form, scope and substance)
            shall be reasonably satisfactory to the managing underwriters, if
            any, and the holders of a majority in principal amount of the
            Registrable Notes of each series being sold) addressed to each
            selling Holder and the underwriters, if any, covering the matters
            customarily covered in opinions requested in sales of securities or
            underwritten offerings and such other matters as may be reasonably
            requested by such Holders and underwriters;

                  (iii) obtain "cold comfort" letters and updates thereof from
            the independent certified public accountants who have certified the
            financial statements and any other entity included or incorporated
            by reference in the Registration Statement addressed to the
            underwriters, if any, and use reasonable efforts to have such letter
            addressed to the selling Holders of Registrable Notes (to the extent
            consistent with SAS 72), such letters to be in customary form and
            covering matters of the type customarily covered in "cold comfort"
            letters to underwriters in connection with similar underwritten
            offerings;

                  (iv) enter into a securities sales agreement with the Holders
            and an agent of the Holders providing for, among other things, the
            appointment of such agent for the selling Holders for the purpose of
            soliciting purchases of Registrable Notes, which agreement shall be
            in form, substances and scope customary for similar offerings;

                  (v) if an underwriting agreement is entered into, cause the
            same to set forth indemnification provisions and procedures
            substantially equivalent to the indemnification provisions and
            procedures set forth in Sections 4 and 5 hereof with respect to the
            underwriters and all other parties to be indemnified pursuant to
            said Sections or, at the request of any underwriters, in the form
            customarily provided to such underwriters in similar types of
            transactions; and

                                       13

<PAGE>

                  (vi) deliver such documents and certificates as may be
            reasonably requested and as are customarily delivered in similar
            offerings to the Holders of a majority in principal amount of the
            Registrable Notes of each series being sold and the managing
            underwriters, if any.

      The above shall be done at (i) the effectiveness of such Registration
      Statement (and each post-effective amendment thereof) and (ii) each
      closing under any underwriting or similar agreement as and to the extent
      required thereunder;

            (p) in the case of a Shelf Registration, make available for
      inspection by representatives of the Holders of the Registrable Notes and
      any underwriters participating in any disposition pursuant to a Shelf
      Registration Statement and any counsel or accountant retained by such
      Holders or underwriters, all financial and other records, pertinent
      corporate documents and properties of the Issuer reasonably requested by
      any such persons and use its reasonable best efforts to cause the
      respective officers, directors, employees, and any other agents of the
      Issuer to supply all information reasonably requested by any such
      representative, underwriter, special counsel or accountant in connection
      with a Registration Statement, and make such representatives of the Issuer
      available for discussion of such documents as shall be reasonably
      requested by the Initial Purchasers;

            (q) (i) in the case of an Exchange Offer Registration Statement,
      within a reasonable time prior to the filing of any Exchange Offer
      Registration Statement, any Prospectus forming a part thereof, any
      amendment to an Exchange Offer Registration Statement or amendment or
      supplement to such Prospectus, provide copies of such document to the
      Initial Purchasers and make such changes in any such document prior to the
      filing thereof as the Initial Purchasers may reasonably request and,
      except as otherwise required by applicable law, not file any such document
      in a form to which the Initial Purchasers on behalf of the Holders of
      Registrable Notes shall reasonably object; and

                  (ii) in the case of a Shelf Registration, within a reasonable
            time prior to filing any Shelf Registration Statement, any
            Prospectus forming a part thereof, any amendment to such Shelf
            Registration Statement or amendment or supplement to such
            Prospectus, provide copies of such document to the Depositary, to
            the Initial Purchasers, to counsel on behalf of the Holders and to
            the underwriter or underwriters of an underwritten offering of
            Registrable Notes, if any, make such changes in any such document
            prior to the filing thereof as the Initial Purchasers, the counsel
            to the Holders or the underwriter or underwriters reasonably request
            and not file any such document in a form to which the Majority
            Holders or the Initial Purchasers on behalf of the Holders of
            Registrable Notes or any underwriter may reasonably object and make
            the representatives of the Issuer available for discussion of such
            document as shall be reasonably requested by the Holders of
            Registrable Notes, the Initial Purchasers on behalf of such Holders,
            or any underwriter.

                                       14

<PAGE>

            (r) in the case of a Shelf Registration, use its reasonable best
      efforts to cause all Registrable Notes to be listed on any securities
      exchange on which similar debt securities issued by the Issuer are then
      listed if requested by the Majority Holders, or if requested by the
      underwriter or underwriters of an underwritten offering of Registrable
      Notes, if any;

            (s) in the case of a Shelf Registration, use its reasonable best
      efforts to cause the Registrable Notes to be rated by the appropriate
      rating agencies, if so requested by the Majority Holders, or if requested
      by the underwriter or underwriters of an underwritten offering of
      Registrable Notes, if any;

            (t) otherwise comply with all applicable rules and regulations of
      the SEC and make available to security holders, as soon as reasonably
      practicable, an earnings statement covering at least 12 months which shall
      satisfy the provisions of Section 11(a) of the 1933 Act and Rule 158
      thereunder;

            (u) cooperate and assist in any filings required to be made with the
      NASD and, in the case of a Shelf Registration, in the performance of any
      due diligence investigation by any underwriter and its counsel (including
      any "qualified independent underwriter" that is required to be retained in
      accordance with the rules and regulations of the NASD); and

            (v) in the case of any Exchange Offer Registration Statement, upon
      consummation of an Exchange Offer,

                  (A) obtain a customary opinion of counsel to the Issuer
      addressed to the Trustee for the benefit of all Holders of Registrable
      Notes participating in the Exchange Offer, and which includes an opinion
      that (i) the Issuer has duly authorized, executed and delivered the
      Exchange Notes and the Indenture and (ii) each of the Exchange Notes and
      the Indenture constitute a legal, valid and binding obligation of the
      Issuer, enforceable against the Issuer in accordance with its respective
      terms (with customary exceptions); and

                  (B) deliver to the Initial Purchasers or to another
      representative of the Participating Broker-Dealers, if requested by the
      Initial Purchasers or such other representative of the Participating
      Broker-Dealers, on behalf of the Participating Broker-Dealers (i) an
      opinion of counsel or opinions of counsel substantially in the form
      attached hereto as Exhibit A and (ii) an officers' certificate
      substantially in the form customarily delivered in a public offering of
      debt securities.

            In the case of a Shelf Registration Statement, the Issuer may (as a
condition to such Holder's participation in the Shelf Registration) require each
Holder of Registrable Notes to furnish to the Issuer such information regarding
the Holder and the proposed distribution by such Holder of such Registrable
Notes as the Issuer may from time to time reasonably request in writing for use
in connection with any Shelf Registration Statement or Prospectus included
therein, including, without limitation, information specified in Item 507 of
Regulation S-K under the 1933 Act. Each Holder as to which any Shelf
Registration is being effected agrees to furnish

                                       15

<PAGE>

promptly to the Issuer all information required to be disclosed with respect to
such Holder in order to make any information with respect to such Holder
previously furnished to the Issuer by such Holder not materially misleading.

            In the case of a Shelf Registration Statement, each Holder agrees
that, upon receipt of any notice directly or indirectly from the Issuer of the
happening of any event or the discovery of any facts, each of the kind described
in Section 3(e)(v) hereof, such Holder will forthwith discontinue disposition of
Registrable Notes pursuant to a Registration Statement until such Holder's
receipt of the copies of the supplemented or amended Prospectus contemplated by
Section 3(k) hereof, and, if so directed by the Issuer, such Holder will deliver
to the Issuer (at its expense) all copies in such Holder's possession, other
than permanent file copies then in such Holder's possession, of the Prospectus
covering such Registrable Notes current at the time of receipt of such notice.

            If any of the Registrable Notes covered by any Shelf Registration
Statement are to be sold in an underwritten offering, the underwriter or
underwriters and manager or managers that will manage such offering will be
selected by the Majority Holders of such Registrable Notes included in such
offering and shall be acceptable to the Issuer. No Holder of Registrable Notes
may participate in any underwritten registration hereunder unless such Holder
(a) agrees to sell such Holder's Registrable Notes on the basis provided in any
underwriting arrangements approved by the persons entitled hereunder to approve
such arrangements and (b) completes and executes all questionnaires, powers of
attorney, indemnities, underwriting agreements and other documents required
under the terms of such underwriting agreement.

            4. Indemnification.

            4.1 Indemnification by the Issuer. The Issuer agrees to indemnify
and hold harmless each Initial Purchaser, its directors and officers, each
Holder, each Participating Broker-Dealer, each Person who participates as an
underwriter (any such Person being an "Underwriter") and each Person, if any,
who controls any Holder or Underwriter within the meaning of Section 15 of the
1933 Act or Section 20 of the 1934 Act from and against any and all losses,
claims, damages and liabilities that arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in any
Registration Statement pursuant to which Exchange Notes or Registrable Notes
were registered under the 1933 Act or any Prospectus, or any omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, and agrees to reimburse
each Initial Purchaser and each controlling person, as incurred, for any legal
or other expenses reasonably incurred by them in connection with investigating
or defending any such loss, claim, damage or liability, except insofar as such
losses, claims, damages or liabilities arise out of or are based upon any such
untrue statement or alleged untrue statement or omission or alleged omission or
are based upon information furnished in writing to the Issuer by any Initial
Purchaser, Holder, Participating Broker-Dealer or Underwriter with respect to
such Initial Purchaser, Holder, Participating Broker-Dealer or Underwriter, as
the case may be, specifically for inclusion therein. Notwithstanding the
foregoing, any indemnification with respect to any Registration Statement or
Prospectus shall not inure to the benefit of any Initial Purchaser (or any such
controlling person), Holder, Participating Broker-Dealer or Underwriter from
whom the person asserting any such loss, claim, damage or liability purchased
the Exchange Notes or

                                       16

<PAGE>

Registrable Notes, to the extent that any such loss, claim, damage or liability
occurs under the circumstances where (w) the Issuer has previously furnished
copies of such Registration Statement or Prospectus (in each case, excluding the
documents incorporated by reference therein) to such Initial Purchaser, Holder,
Participating Broker-Dealer or Underwriter, (x) the untrue statement or omission
of a material fact contained in such Registration Statement or Prospectus (in
each case, excluding the documents incorporated by reference therein) was
corrected in an amendment or supplement to such Registration Statement or
Prospectus, (y) delivery of such Registration Statement or Prospectus was
required by the 1933 Act to be made to such Person, and (z) there was not sent
or given to such Person, at or prior to the written confirmation of the sale of
the Exchange Notes or Registrable Notes to such Person, a copy of such
Registration Statement or Prospectus (in each case, excluding the documents
incorporated by reference therein), as amended or supplemented. This indemnity
agreement will be in addition to any liability which the Issuer may otherwise
have.

            4.2 Indemnification by the Holders, Initial Purchasers,
Participating Broker-Dealers and Underwriters. Each Holder, each Initial
Purchaser, each Participating Broker-Dealer and each Underwriter severally, but
not jointly, agrees to indemnify and hold harmless the Issuer, each other
Initial Purchaser, each other Participating Broker-Dealer, each other
Underwriter and each other selling Holder, and each of their respective
directors and officers, and each Person, if any, who controls the Issuer, any
Initial Purchaser, any Participating Broker-Dealer, any Underwriter, or any
other selling Holder within the meaning of Section 15 of the 1933 Act or Section
20 of the 1934 Act to the same extent as the foregoing indemnity contained in
subsection 4.1 above, but only with reference to written information relating to
such Holder, Initial Purchaser, Participating Broker-Dealer or Underwriter
furnished to the Issuer by such Holder, Initial Purchaser, Participating
Broker-Dealer or Underwriter specifically for inclusion in the Shelf
Registration Statement or such Prospectus; provided, however, that no such
Holder, Initial Purchaser, Participating Broker-Dealer or Underwriter shall be
liable for any claims hereunder in excess of the amount of net proceeds received
by such Holder, Initial Purchaser, Participating Broker-Dealer or Underwriter
from the sale of Registrable Notes pursuant to such Shelf Registration
Statement. This indemnity agreement will be in addition to any liability which
such Holder, Initial Purchaser, Participating Broker-Dealer or Underwriter may
otherwise have.

            4.3 Actions Against Parties; Notification. Promptly after receipt by
an indemnified party under this Section 4 of notice of the commencement of any
action, such indemnified party will, if a claim in respect thereof is to be made
against the indemnifying party under this Section 4, notify the indemnifying
party in writing of the commencement thereof; but the omission so to notify the
indemnifying party (i) will not relieve it from any liability under subsection
4.1 or 4.2 above unless and to the extent such failure results in the loss by
the indemnifying party of substantial rights and defenses and (ii) will not, in
any event relieve the indemnifying party from any obligations to any indemnified
party other than the indemnification obligation provided in subsection 4.1 or
4.2 above. In any such proceeding, any indemnified party shall have the right to
retain its own counsel, but fees and expenses of such counsel shall be at the
expense of such indemnified party unless (i) the indemnifying party and the
indemnified party shall have mutually agreed to the retention of such counsel or
(ii) the named parties to any such action (including any impleaded parties)
include both the indemnified party and the indemnifying party and the
indemnified party shall have reasonably concluded upon advice of

                                       17

<PAGE>

counsel that there may be legal defenses available to it and/or other
indemnified parties which are different from or additional to those available to
the indemnifying party. It is understood that the indemnifying party shall not,
in connection with any proceeding or related proceedings in the same
jurisdiction, be liable for the fees and expenses of more than one separate
counsel for all such indemnified parties. Such counsel shall be designated in
writing by the Representatives in the case of parties indemnified pursuant to
the second preceding paragraph, and by the Company in the case of parties
indemnified pursuant to the first preceding paragraph.

            4.4 Settlement Without Consent. The indemnifying party shall not be
liable for any settlement of any proceeding effected without its written
consent, but if settled with such consent or if there has been a final judgment
for the plaintiff, the indemnifying party agrees to indemnify the indemnified
party from and against any loss or liability by reason of such settlement or
judgment. An indemnifying party will not, without the prior written consent of
the indemnified parties, settle or compromise or consent to the entry of any
judgment with respect to any pending or threatened claim, action, suit or
proceeding in respect of which indemnification or contribution may be sought
hereunder (whether the indemnified parties are actual or potential parties to
such claim or action) unless such settlement, compromise or consent (i) includes
an unconditional release of each indemnified party from all liability arising
out of such claim, action, suit or proceeding and (ii) does not include any
statement as to, or any admission of, fault, culpability or failure to act by or
on behalf of any indemnified party.

            5. Contribution. In the event that the indemnity provided for in
Section 4 hereof is held by a court to be unavailable, in whole or in part, to
hold harmless an indemnified party for any reason, then each applicable
indemnifying party shall have several and not joint obligation to contribute to
the aggregate losses, claims, damages and liabilities (including legal or other
expenses reasonably incurred in connection with investigating or defending same)
(collectively "Losses") to which such indemnified party may be subject in such
proportion as is appropriate to reflect the relative benefits received by such
indemnifying party, on the one hand, and such indemnified party, on the other
hand, from the offering of the Notes, the Exchange Notes or the Registrable
Notes and the Registration Statement which resulted in such Losses. If the
allocation provided by the immediately preceding sentence is held by a court to
be unavailable for any reason, the indemnifying party and the indemnified party
shall contribute in such proportion as is appropriate to reflect not only such
relative benefits but also the relative fault of such indemnifying party on the
one hand and of such indemnified party on the other hand in connection with the
statements or omissions that resulted in such Losses, as well as any other
relevant equitable considerations. Benefits received by the Issuer shall be
deemed to be equal to the sum of (x) the total net proceeds from the offering
(before deducting expenses) as set forth on the cover page of the Offering
Memorandum and (y) the total amount of Interest (as defined in Section 2.5)
which the Issuer was not required to pay as a result of registering the
securities covered by the Registration Statement which resulted in the Losses.
Benefits received by the Initial Purchasers shall be deemed to be equal to the
total discounts and commissions as set forth on the cover page of the Offering
Memorandum, and benefits received by any other Holders shall be deemed to be
equal to the value of receiving Notes, Exchange Notes or Registrable Notes, as
applicable, registered under the 1933 Act. Benefits received by any
Participating Broker-Dealer shall be deemed to be equal to the total commissions
relating to the market-making and exchange of Registrable Notes for Exchange
Notes. Benefits received by any Underwriter shall be deemed to be equal to the
total underwriting discounts and commissions, as

                                       18

<PAGE>

set forth on the cover page of the Prospectus forming a part of the Registration
Statement which resulted in such Losses. Relative fault shall be determined by
reference to, among other things, whether any untrue or alleged untrue statement
of a material fact or the omission or alleged omission to state a material fact
relates to information provided by the indemnifying party on the one hand or by
the indemnified party on the other hand, the intent of the parties and their
relative knowledge, access to information and opportunity to correct or prevent
such untrue statement or omission. Notwithstanding the provisions of this
Section 8, no Initial Purchaser shall be required to contribute any amount in
excess of the amount by which the total price at which the Notes underwritten by
it and distributed to the public were offered to the public exceeds the amounts
of any damages which such Initial Purchaser has otherwise been required to pay
by reason of such untrue or alleged untrue statement or omission or alleged
omission; nor shall any Participating Broker-Dealer be required to contribute
any amount in excess of the amount by which the total price at which the Notes
exchanged for Exchange Notes by it were offered to the public exceeds the
amounts of any damages which such Participating Broker-Dealer has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission
or alleged omission; nor, shall any Underwriter in the case of a Shelf
Registration Statement be required to contribute any amount in excess of the
amount by which the total price at which the Notes underwritten by it exceeds
the amounts of any damages which such Underwriter has otherwise been required to
pay by reason of such untrue or alleged untrue statement or omission or alleged
omission. The parties agree that it would not be just and equitable if
contribution were determined by pro rata allocation (even if the Holders were
treated as one entity for such purpose) or any other method of allocation that
does not take account of the equitable considerations referred to above.
Notwithstanding the provisions of this Section 5, no person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be
entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation.

            For purposes of this Section 5, each person, if any, who controls a
Holder, an Initial Purchaser, a Participating Broker-Dealer or an Underwriter,
in each case, within the meaning of Section 15 of the 1933 Act or Section 20 of
the 1934 Act, shall have the same rights to contribution as such Holder, Initial
Purchaser, Participating Broker-Dealer or Underwriter, as the case may be, and
each officer of the Issuer who shall have signed the Registration Statement,
each director of the Issuer and each person, if any, who controls the Issuer
within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act
shall have the same rights to contribution as the Issuer.

            6. Miscellaneous.

            6.1 Rule 144 and Rule 144A. For so long as the Issuer is subject to
the reporting requirements of Section 13 or 15 of the 1934 Act, the Issuer
covenants that it will file the reports required to be filed by it under the
1933 Act and Section 13(a) or 15(d) of the 1934 Act and the rules and
regulations adopted by the SEC thereunder. If the Issuer ceases to be so
required to file such reports, the Issuer covenants that it will upon the
request of any Holder of Registrable Notes (a) make publicly available such
information as is necessary to permit sales pursuant to Rule 144 under the 1933
Act, (b) deliver such information to a prospective purchaser as is necessary to
permit sales pursuant to Rule 144A under the 1933 Act, and (c) take such further
action that is reasonable in the circumstances, in each case, to the extent
required from time to time to enable such Holder to sell its Registrable Notes
without registration under the

                                       19

<PAGE>

1933 Act within the limitation of the exemptions provided by (i) Rule 144 under
the 1933 Act, as such Rule may be amended from time to time, (ii) Rule 144A
under the 1933 Act, as such Rule may be amended from time to time, or (iii) any
similar rules or regulations hereafter adopted by the SEC. Upon the request of
any Holder of Registrable Notes, the Issuer will deliver to such Holder a
written statement as to whether it has complied with such requirements. The
Issuer agrees to comply with the information obligations to the extent that they
are required by applicable law or regulation.

            6.2 No Inconsistent Agreements. The Issuer has not entered into and
the Issuer will not after the date of this Agreement enter into any agreement
which is inconsistent with the rights granted to the Holders of Registrable
Notes in this Agreement or otherwise conflicts with the provisions hereof. The
rights granted to the Holders hereunder do not in any way conflict with the
rights granted to the Holders of the Issuer's other issued and outstanding Notes
under any such agreements.

            6.3 Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers of consents to departures from the provisions hereof
may not be given unless the Issuer has obtained the written consent of (i)
Holders of a majority in aggregate principal amount of the outstanding
Registrable Notes and (ii) Participating Broker-Dealers holding a majority in
aggregate principal amount of the Exchange Notes held by all Participating
Broker-Dealers, in each case to the extent affected by such amendment,
modification, supplement, waiver or departure.

            6.4 Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand delivery, registered
first-class mail, telex, telecopier, or any courier guaranteeing overnight
delivery (a) if to the Depositary, at 55 Water Street, New York, New York 10041
or if The Depository Trust Company is no longer the Depositary, at the most
current address given by the Depositary to the Issuer by means of a notice given
in accordance with the provisions of this Section 6.4; (b) if to a Holder, at
the most current address given by such Holder to the Issuer by means of a notice
given in accordance with the provisions of this Section 6.4, which address
initially is the address set forth in the Purchase Agreement with respect to the
Initial Purchasers; and (c) if to the Issuer initially at the Issuer's address
set forth in the Purchase Agreement, and thereafter at such other address of
which notice is given in accordance with the provisions of this Section 6.4.

            All such notices and communications shall be deemed to have been
duly given: at the time delivered by hand, if personally delivered; two (2)
business days after being deposited in the mail, postage prepaid, if mailed;
when answered back, if telexed; when receipt is acknowledged, if telecopied; and
on the next business day if timely delivered to an air courier guaranteeing
overnight delivery.

            Copies of all such notices, demands, or other communications shall
be concurrently delivered by the person giving the same to the Trustee under the
Indenture, at the address specified in such Indenture.

                                       20

<PAGE>

            6.5 Successor and Assigns. This Agreement shall inure to the benefit
of and be binding upon the successors, assigns and transferees of each of the
parties, including without limitation and without the need for an express
assignment, subsequent Holders and Participating Broker-Dealers; provided that
nothing herein shall be deemed to permit any assignment, transfer or other
disposition of Registrable Notes in violation of the terms of the Purchase
Agreement. If any transferee of any Holder shall acquire Registrable Notes, in
any manner, whether by operation of law or otherwise, such Registrable Notes
shall be held subject to all of the terms of this Agreement, and by taking any
holding such Registrable Notes such person shall be conclusively deemed to have
agreed to be bound by and to perform all of the terms and provisions of this
Agreement, including the restrictions on resale set forth in this Agreement and,
if applicable, the Purchase Agreement, and such person shall be entitled to
receive the benefits hereof.

            6.6 Third Party Beneficiaries. The Initial Purchasers (even if the
Initial Purchasers are not Holders of Registrable Notes) shall be third party
beneficiaries to the agreements made hereunder between the Issuer, on the one
hand, and the Holders, on the other hand, and shall have the right to enforce
such agreements directly to the extent it deems such enforcement necessary or
advisable to protect its rights or the rights of Holders hereunder. Each Holder
of Registrable Notes shall be a third party beneficiary to the agreements made
hereunder between the Issuer, on the one hand, and the Initial Purchasers, on
the other hand, and shall have the right to enforce such agreements directly to
the extent it deems such enforcement necessary or advisable to protect its
rights hereunder.

            6.7 Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

            6.8 Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

            6.9 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO THE
PRINCIPLES OF CONFLICT OF LAWS THEREOF.

            6.10 Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstance, is
held invalid, illegal or unenforceable, the validity, legality and
enforceability of any such provision in every other respect and of the remaining
provisions contained herein shall not be affected or impaired thereby.

                                       21

<PAGE>

            IN WITNESS WHEREOF, the parties have executed this Agreement as of
the date first written above.

                                         JERSEY CENTRAL POWER & LIGHT COMPANY,
                                         as Issuer

                                         By: __________________________________
                                             Name:
                                             Title:

Confirmed and accepted as of the date
first above written:

BARCLAYS CAPITAL INC.

By: __________________________________
    Name:
    Title:

UBS SECURITIES LLC

By: __________________________________
    Name:
    Title:

Acting as representatives of the Initial Purchasers.

                                      S-1

<PAGE>

                                                                       Exhibit A

                           Form of Opinion of Counsel

            We are of the opinion that the Exchange Offer Registration Statement
and the Prospectus (other than the financial statements, notes or schedules
thereto and other financial data and supplemental schedules included or
incorporated by reference therein or omitted therefrom and the Form T-1, as to
which we need express no opinion), comply as to form in all material respects
with the requirements of the 1933 Act and the applicable rules and regulations
promulgated under the 1933 Act.

            In addition, we have participated in conferences with officers and
other representatives of the Issuer, representatives of the independent public
accountants of the Issuer and representatives of the Initial Purchasers, at
which the contents of the Registration Statement and the Prospectus and related
matters were discussed and, although we are not passing upon, and do not assume
any responsibility for, the accuracy, completeness or fairness of the statements
contained in the Registration Statement and the Prospectus and have not made any
independent check or verification thereof, during the course of such
participation, no facts came to our attention that caused us to believe that the
Registration Statement or any amendment thereto, at the time the Registration
Statement or any such amendment became effective, contained an untrue statement
of a material fact or omitted to state a material fact required to be stated
therein or necessary to make the statements therein not misleading, or that the
Prospectus or any amendment or supplement thereto, at the time the Prospectus
was issued, at the time any such amended or supplemented Prospectus was issued
or at the Closing Date, included or includes an untrue statement of a material
fact or omitted or omits to state a material fact necessary in order to make the
statements therein, in light of the circumstances under which they were made,
not misleading; it being understood that we express no belief with respect to
the financial statements and schedules and other financial data included in the
Registration Statement and the Prospectus.

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