Document:

Exhibit 4.1.1
 EXECUTION COPY
   
 

 

FIRST SUPPLEMENTAL INDENTURE

DATED AS OF MAY 7, 2007

to the

INDENTURE

dated as of May 7, 2007

between

EDISON MISSION ENERGY

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

 

   
 

FIRST SUPPLEMENTAL INDENTURE, dated as of May 7, 2007
(this “First Supplemental Indenture”), to
the Indenture, dated as of May 7, 2007 (the “Original
Indenture”), between EDISON MISSION ENERGY, a Delaware corporation
(the “Company”), and WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association (the “Trustee”).

WHEREAS, the Company and the Trustee have heretofore
executed and delivered the Original Indenture to provide for the issuance from
time to time of Notes (as defined in the Original Indenture) of the Company, to
be issued in one or more series;

WHEREAS, Sections 2.2 and 7.1 of the
Original Indenture provide, among other things, that the Company and the
Trustee may enter into indentures supplemental to the Original Indenture for,
among other things, the purpose of establishing the designation, form, terms
and provisions of Notes of any series as permitted by Sections 2.2 and 7.1
of the Original Indenture;

WHEREAS, the Company (i) desires the issuance of a
series of Notes to be designated as hereinafter provided and (ii) has requested
the Trustee to enter into this First Supplemental Indenture for the purpose of
establishing the designation, form, terms and provisions of the Notes of such
series; and

WHEREAS, all action on the part of the Company
necessary to authorize the issuance of said Notes under the Original Indenture
and this First Supplemental Indenture (the Original Indenture, as supplemented
by this First Supplemental Indenture, being hereinafter called the “Indenture”)
has been duly taken.

NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE
WITNESSETH:

That, in order to establish the designation, form,
terms and provisions of, and to authorize the authentication and delivery of,
said Notes, and in consideration of the acceptance of said Notes by the Holders
thereof and of other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree
as follows:

ARTICLE
I.

DEFINITIONS

(a)           Capitalized
terms used herein and not otherwise defined herein shall have the respective
meanings ascribed thereto in the Original Indenture.

(b)           The rules
of interpretation set forth in the Original Indenture shall be applied hereto
as if set forth in full herein.

(c)           For all
purposes of this First Supplemental Indenture, except as otherwise expressly
provided or unless the context otherwise requires, the following terms shall
have the following respective meanings (such meanings shall apply equally to
both the singular and plural forms of the respective terms):

“Additional Notes” means additional 2017 Notes
(other than the Initial Notes) issued under this First Supplemental Indenture
in accordance with Section 2.1 hereof, and not in violation of any
provision of the Original Indenture, as part of the same series as the Initial
Notes.

“Applicable Premium” means, with respect to any
2017 Note on any redemption date, the greater of:

(a) 1.0% of the principal amount of the 2017 Note; or

(b) the excess of:

(i) the present value at such redemption date of (A) 100% of the
principal amount of the 2017 Note at May 15, 2017, plus (B) all required
interest payments due on the 2017 Note through May 15, 2017 (excluding accrued
but unpaid interest to the redemption date), computed using a discount rate
equal to the Treasury Rate as of such redemption date plus 50 basis points;
over

(ii) the principal amount of the 2017 Note, if greater.

“Initial Notes” shall have the meaning ascribed
thereto in Section 2.1(a) hereof.

“Liquidated Damages” shall have the meaning
ascribed thereto with respect to the 2017 Notes in the Registration Rights
Agreement, dated as of May 7, 2007, between the Company and Citigroup Global
Markets Inc., as representative of the several Purchasers of the Initial Notes
(a copy of which has been furnished to the Trustee) or, in the case of
Additional Notes, as set forth in one or more registration rights agreements
between the Company and the parties named on the signature pages thereto.

“2017 Notes”
shall have the meaning ascribed thereto in Section 2.1(a) hereof.

“Treasury Rate”
means, as of any redemption date, the yield to maturity as of such redemption
date of United States Treasury securities with a constant maturity (as compiled
and published in the most recent Federal Reserve Statistical Release H.15 (519)
that has become publicly available at least two Business Days prior to the
redemption date (or, if such Statistical Release is no longer published, any
publicly available source of similar market data)) most nearly equal to the
period from the redemption date to May 15, 2017; provided,
however, that if the period from the redemption date to May 15, 2017 is
less than one year, the weekly average yield on actually traded United States
Treasury securities adjusted to a constant maturity of one year will be used.

 2
 

ARTICLE
II.

THE
TERMS OF THE NOTES

SECTION 2.1               Terms
of 7.00% Senior Notes due May 15, 2017.

(a)           There is
hereby created one series of Notes designated:  7.00%
Senior Notes due May 15, 2017 (the “2017 Notes”).
In accordance with the provisions of Section 2.3 of the Original
Indenture, the Trustee will, upon receipt of an Authentication Order,
authenticate (i) 2017 Notes in an aggregate principal amount of $1,200,000,000
on the date hereof (the “Initial Notes”) and (ii) Additional Notes from
time to time as permitted under the Original Indenture.

(b)           Each of
the 2017 Notes shall have and be subject to such other terms as provided in the
Indenture and shall be evidenced by one or more Notes in the form of Exhibit
A to the Indenture.

SECTION 2.2               Interest
and Principal; Liquidated Damages.

The 2017 Notes will mature on May 15, 2017 and will
bear interest at the rate of 7.00% per annum. The Company will pay interest and
Liquidated Damages, if any, on the 2017 Notes on each May 15 and November 15,
beginning on November 15, 2007 to the holders of record on the immediately
preceding May 1 or November 1.  Interest
on the 2017 Notes shall accrue from the most recent date to which interest has
been paid or, if no interest has been paid, from May 7, 2007.

SECTION 2.3               Redemption.

The Company may redeem all or a part of the 2017 Notes
at any time upon not less than 30 nor more than 60 days’ prior notice mailed by
first-class mail to each Holder’s registered address, at a redemption price
equal to 100% of the principal amount of the 2017 Notes redeemed plus the
Applicable Premium as of, and accrued and unpaid interest and Liquidated
Damages, if any, to the redemption date, subject to the rights of Holders of
the 2017 Notes on the relevant record date to receive interest due on the
relevant interest payment date.

ARTICLE
III.

MISCELLANEOUS

SECTION 3.1               Execution
of Supplemental Indenture.

This First Supplemental Indenture is executed and
shall be construed as an indenture supplemental to the Original Indenture and,
as provided in the Original Indenture, this First Supplemental Indenture forms
a part thereof.

SECTION 3.2               Concerning
the Trustee.

The recitals contained herein and in the 2017 Notes,
except with respect to the Trustee’s certificates of authentication, shall be
taken as the statements of the Company, and the Trustee assumes no
responsibility for the correctness of the same. The Trustee makes no
representations as to the validity or sufficiency of this First Supplemental
Indenture or of the 2017 Notes.

 3
 

SECTION 3.3               Counterparts.

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

SECTION 3.4               GOVERNING
LAW.

THIS FIRST SUPPLEMENTAL INDENTURE AND EACH 2017 NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

 4
 

IN WITNESS WHEREOF, the parties have caused this First
Supplemental Indenture to be duly executed by their respective officers
thereunto duly authorized as of the date first above written.

	
  

  	
  EDISON MISSION ENERGY

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven D. Eisenberg

  
	
   

  	
   

  	
  Name: Steven D. Eisenberg

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Maddy Hall

  
	
   

  	
   

  	
  Name: Maddy Hall

  
	
   

  	
   

  	
  Title: Assistant Vice President

  

 

 5Exhibit 4.1.2
 EXECUTION COPY
   
 

 

 

SECOND SUPPLEMENTAL INDENTURE

DATED AS OF MAY 7, 2007

to the

INDENTURE

dated as of May 7, 2007

between

EDISON MISSION ENERGY

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

 

   
 

SECOND SUPPLEMENTAL INDENTURE, dated as of May 7, 2007
(this “Second Supplemental
Indenture”), to the Indenture, dated as of May 7, 2007
(the “Original Indenture”),
between EDISON MISSION ENERGY, a Delaware corporation (the “Company”),
and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (the
“Trustee”).

WHEREAS, the Company and the Trustee have heretofore
executed and delivered the Original Indenture to provide for the issuance from
time to time of Notes (as defined in the Original Indenture) of the Company, to
be issued in one or more series;

WHEREAS, Sections 2.2 and 7.1 of the
Original Indenture provide, among other things, that the Company and the
Trustee may enter into indentures supplemental to the Original Indenture for,
among other things, the purpose of establishing the designation, form, terms
and provisions of Notes of any series as permitted by Sections 2.2 and 7.1
of the Original Indenture;

WHEREAS, the Company (i) desires the issuance of a
series of Notes to be designated as hereinafter provided and (ii) has requested
the Trustee to enter into this Second Supplemental Indenture for the purpose of
establishing the designation, form, terms and provisions of the Notes of such
series; and

WHEREAS, all action on the part of the Company
necessary to authorize the issuance of said Notes under the Original Indenture
and this Second Supplemental Indenture (the Original Indenture, as supplemented
by this Second Supplemental Indenture, being hereinafter called the “Indenture”)
has been duly taken.

NOW, THEREFORE, THIS SECOND SUPPLEMENTAL INDENTURE
WITNESSETH:

That, in order to establish the designation, form,
terms and provisions of, and to authorize the authentication and delivery of,
said Notes, and in consideration of the acceptance of said Notes by the Holders
thereof and of other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree
as follows:

ARTICLE
I.

DEFINITIONS

(a)           Capitalized
terms used herein and not otherwise defined herein shall have the respective
meanings ascribed thereto in the Original Indenture.

(b)           The rules
of interpretation set forth in the Original Indenture shall be applied hereto
as if set forth in full herein.

(c)           For all
purposes of this Second Supplemental Indenture, except as otherwise expressly
provided or unless the context otherwise requires, the following terms shall
have the following respective meanings (such meanings shall apply equally to
both the singular and plural forms of the respective terms):

“Additional Notes” means additional 2019 Notes
(other than the Initial Notes) issued under this Second Supplemental Indenture
in accordance with Section 2.1 hereof, and not in violation of any
provision of the Original Indenture, as part of the same series as the Initial
Notes.

“Applicable Premium” means, with respect to any
2019 Note on any redemption date, the greater of:

(a) 1.0% of the principal amount of the 2019 Note; or

(b) the excess of:

(i) the present value at such redemption date of (A) 100% of the
principal amount of the 2019 Note at May 15, 2019, plus (B) all required
interest payments due on the 2019 Note through May 15, 2019 (excluding accrued
but unpaid interest to the redemption date), computed using a discount rate equal
to the Treasury Rate as of such redemption date plus 50 basis points; over

(ii) the principal amount of the 2019 Note, if greater.

“Initial Notes” shall have the meaning ascribed
thereto in Section 2.1(a) hereof.

“Liquidated Damages” shall have the meaning
ascribed thereto with respect to the 2019 Notes in the Registration Rights
Agreement, dated as of May 7, 2007, between the Company and Citigroup Global
Markets Inc., as representative of the several Purchasers of the Initial Notes
(a copy of which has been furnished to the Trustee) or, in the case of
Additional Notes, as set forth in one or more registration rights agreements
between the Company and the parties named on the signature pages thereto.

“2019
Notes” shall have the meaning ascribed thereto in Section
2.1(a) hereof.

“Treasury
Rate” means, as of any redemption date, the yield to
maturity as of such redemption date of United States Treasury securities with a
constant maturity (as compiled and published in the most recent Federal Reserve
Statistical Release H.15 (519) that has become publicly available at least two
Business Days prior to the redemption date (or, if such Statistical Release is
no longer published, any publicly available source of similar market data))
most nearly equal to the period from the redemption date to May 15, 2019; provided, however, that if the period from the
redemption date to May 15, 2019 is less than one year, the weekly average yield
on actually traded United States Treasury securities adjusted to a constant
maturity of one year will be used.

 2
 

ARTICLE
II.

THE TERMS OF THE NOTES

SECTION 2.1               Terms
of 7.20% Senior Notes due May 15, 2019.

(a)           There is
hereby created one series of Notes designated:  7.20%
Senior Notes due May 15, 2019 (the “2019 Notes”). In accordance
with the provisions of Section 2.3 of the Original Indenture, the
Trustee will, upon receipt of an Authentication Order, authenticate (i) 2019
Notes in an aggregate principal amount of $800,000,000 on the date hereof (the “Initial
Notes”) and (ii) Additional Notes from time to time as permitted under the
Original Indenture.

(b)           Each of
the 2019 Notes shall have and be subject to such other terms as provided in the
Indenture and shall be evidenced by one or more Notes in the form of Exhibit
A to the Indenture.

SECTION 2.2               Interest
and Principal; Liquidated Damages.

The 2019 Notes will mature on May 15, 2019 and will
bear interest at the rate of 7.20% per annum. The Company will pay interest and
Liquidated Damages, if any, on the 2019 Notes on each May 15 and November 15,
beginning on November 15, 2007 to the holders of record on the immediately
preceding May 1 or November 1.  Interest
on the 2019 Notes shall accrue from the most recent date to which interest has
been paid or, if no interest has been paid, from May 7, 2007.

SECTION 2.3               Redemption.

The Company may redeem all or a part of the 2019 Notes
at any time upon not less than 30 nor more than 60 days’ prior notice mailed by
first-class mail to each Holder’s registered address, at a redemption price
equal to 100% of the principal amount of the 2019 Notes redeemed plus the
Applicable Premium as of, and accrued and unpaid interest and Liquidated
Damages, if any, to the redemption date, subject to the rights of Holders of
the 2019 Notes on the relevant record date to receive interest due on the
relevant interest payment date.

ARTICLE
III.

MISCELLANEOUS

SECTION 3.1               Execution
of Supplemental Indenture.

This Second Supplemental Indenture is executed and
shall be construed as an indenture supplemental to the Original Indenture and,
as provided in the Original Indenture, this Second Supplemental Indenture forms
a part thereof.

SECTION 3.2               Concerning
the Trustee.

The recitals contained herein and in the 2019 Notes,
except with respect to the Trustee’s certificates of authentication, shall be
taken as the statements of the Company, and the Trustee assumes no
responsibility for the correctness of the same. The Trustee makes no
representations as to the validity or sufficiency of this Second Supplemental
Indenture or of the 2019 Notes.

 3
 

SECTION 3.3               Counterparts.

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

SECTION 3.4               GOVERNING
LAW.

THIS SECOND SUPPLEMENTAL INDENTURE AND EACH 2019 NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

 4
 

IN WITNESS WHEREOF, the parties have caused this
Second Supplemental Indenture to be duly executed by their respective officers
thereunto duly authorized as of the date first above written.

	
  

  	
  EDISON MISSION ENERGY

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven D. Eisenberg

  
	
   

  	
   

  	
  Name: Steven D. Eisenberg

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Maddy Hall

  
	
   

  	
   

  	
  Name: Maddy Hall

  
	
   

  	
   

  	
  Title: Assistant Vice President

  

 

 5

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