Document:

First Modification agreement dated 03-12-2004

 Exhibit 10.43 
  
 FIRST MODIFICATION AGREEMENT 
  
 This FIRST MODIFICATION AGREEMENT (the “First Modification”), dated as of March 12, 2004, by and among STATE STREET BANK AND TRUST
COMPANY OF CONNECTICUT, NATIONAL ASSOCIATION, a national banking association, solely as Trustee of GTC CONNECTICUT STATUTORY TRUST, a Connecticut statutory trust (the “Shipowner”), FLEET CAPITAL CORPORATION, a Rhode Island
corporation (the “Owner Participant”), TECO OCEAN SHIPPING, INC., formerly Gulfcoast Transit Company, a Florida corporation (as demise charterer of the Vessels, the “Charterer”), and TECO ENERGY, INC (“TECO
Energy”). and TECO TRANSPORT CORPORATION (“TECO Transport”), each a Florida corporation (the “Guarantors”; the Charterer and the Guarantors being hereinafter sometimes collectively referred to as the
“Obligors”). 
  
 WHEREAS, the Shipowner, the
Owner Participant and the Obligors other than TECO Transport are parties to that certain Agreement to Acquire and Charter, dated as of December 21, 2001 (the “Original Agreement”), and the related Transaction Documents executed in
connection therewith, that provide, among other things, for the sale and charterback of the Vessels as more particularly described therein (capitalized terms used in this First Modification that are not otherwise defined herein shall have the
meanings ascribed to such terms in Schedule A to the Agreement); 
  
 WHEREAS, the parties have agreed to make certain modifications to certain of the Transaction Documents, including the delivery of an Amended and Restated Guarantee from the Guarantors, to effectuate the intent of the parties. 
  
 NOW, THEREFORE, for $1.00 and other good and valuable consideration, receipt
of which is hereby acknowledged, the parties hereby agree as follows: 
  
 1. The definitions of the terms “Agreement”, “Early Purchase Amount”, “Guarantee”, “Guarantor”, “Obligors” in Schedule A to the Agreement and in Schedule A to the Demise Charter are hereby
deleted and replaced with the following respective definitions: 
  
 “Agreement” shall mean that certain Agreement to Acquire and Charter dated as of December 21, 2001, as amended by the First Modification Agreement dated as of March 12, 2004, by and among Shipowner, Owner
Participant, the Seller, Charterer and the Guarantors, providing, among other things, for the agreement of Shipowner to purchase the Vessels from the Seller and of Charterer concurrently therewith to enter into the Demise Charter and to accept
delivery of the Vessels from Shipowner under the Demise Charter. 
  
 “Early Purchase Amount” shall mean 85.40% of Lessor’s Cost. 
  
 “Guarantee” shall mean that certain Amended and Restated Guarantee entered into by the Guarantors dated as of March 12,
2004. 
  
 “Guarantor” shall mean
each of TECO Energy and TECO Transport, and “Guarantors” shall refer to both. 
  

 “Obligors” shall mean Charterer and the Guarantors. 
  
 2. References to “Gulfcoast Transit Company” in the Original
Agreement and the Demise Charter shall be replaced with the words “TECO Ocean Shipping, Inc. 
  
 3. The following new definitions are hereby inserted in Schedule A to the Original Agreement and in Schedule A to the Demise Charter in the appropriate
alphabetical order: 
  
 “Significant
Subsidiary” shall mean any Subsidiary of the Guarantor, provided, however, in no event shall TECO Wholesale Generation, Inc. (formerly known as TECO Power Services Corporation), a Florida corporation, or any of its Subsidiaries be or
be deemed to be a Significant Subsidiary. 
  
 “TECO Energy” shall mean TECO Energy, Inc., a Florida corporation. 
  
 “TECO Transport” shall mean TECO Transport Corporation, a Florida corporation. 
  
 4. Sections 5.3(a) and 5.3(b) of the Original Agreement are hereby deleted in
their entirety and replaced with the following: 
  
 (a) As soon as available, and in any event within sixty (60) days after the end of the first, second and third quarterly accounting periods in each fiscal year, each Guarantor shall furnish to the Owner Participant copies of its unaudited
consolidated balance sheet and its consolidated Subsidiaries as of the end of such accounting period and copies of the related statements of income and retained earnings and changes in financial position for the portion of its fiscal year ended with
the last day of such quarterly accounting period and for such period, all in reasonable detail, certified by its controller or other accounting officer and stating in comparative form the figures for the corresponding date and periods in the
previous fiscal year. 
  
 (b) As soon as
available after the end of each fiscal year, and in any event within one hundred twenty (120) days thereafter, each Guarantor shall furnish to the Owner Participant copies of its audited financial statements and its consolidated Subsidiaries in
comparative form certified as fairly presented by a nationally recognized firm of independent certified public accountants, together with a certificate signed by its President, any Vice President, the Treasurer or other accounting officer, stating
that he or she has reviewed the activities during such year and that to the best of his or her knowledge each Obligor during such year has kept, observed, performed and fulfilled each and every covenant, obligation and condition contained in this
Agreement or any other of the Transaction Documents, that no Event of Default shall have existed during such year and that no Event of Default exists or if such a Default or Event of Default shall have so existed or shall exist specifying the nature
and status thereof. 
  
 5. References to “Guarantor” or
“the Guarantor” in Sections 4.1(c), 4.1(d), 4.1(f), 4.1(p) and 8.1(a) of the Original Agreement shall be deleted and replaced with the words “TECO Energy”. 
  

 2 

 6. Section 5.7(e) of the Original Agreement is hereby deleted in its entirety and replaced with the
following: 
  
 (e) any Guarantor, the Charterer
or any Significant Subsidiary shall default (after the expiration of any applicable period of grace with respect thereto) in the payment of any Indebtedness in excess of $10,000,000.00 or in the payment of any Indebtedness in excess of $5,000,000.00
due to the Owner Participant or any of its Affiliates or, to the extent not covered in any other subsection of this Section 5.7, shall default in the performance of any other material obligation to, or observance of any material covenant for the
benefit of, the Owner Participant or any of its Affiliates which results in the acceleration of the Indebtedness in excess of $5,000,000 under any loan, note, indenture, security agreement, lease, guarantee, title retention or conditional sales
agreement or other instrument or agreement evidencing such indebtedness or obligation. 
  
 7. Section 8.1 of the Original Agreement and Article 21 of the Demise Charter are hereby amended to delete the address of Fleet Capital Corporation to which copies of notices to the Shipowner are to be sent and to
replace it with the following: 
  
 FLEET CAPITAL
CORPORATION 
 Fleet Capital Leasing 
 One Financial Plaza 
 8th Floor 
 Providence, RI 02903 
  
 Attention: Portfolio Management Group 
 Telecopy: (401) 278-8200 
  
 8. Section 8.1 of the Original Agreement is hereby amended to add the
following additional notice address immediately after the notice address for TECO Energy: 
  
 To TECO Transport: 
  
 TECO TRANSPORT CORPORATION 
 702 North Franklin Street 
 Tampa, Florida 33602 
  
 Attention: General Counsel 
 Telecopy: (813) 228-4811 
  
 9.
The reference to “the Guarantor” in Section 10(a)(i)(A) in the Demise Charter shall be deleted and replaced with the words “TECO Energy”. 
  
 10. Article 15(a)(10) of the Demise Charter is hereby deleted in its entirety and replaced with the following: 
  
 (10) Charterer, any Guarantor or any Significant Subsidiary
shall default (after the expiration of any applicable period of grace with respect thereto) in the payment of any Indebtedness for which the amount of such Indebtedness in excess of $10,000,000.00 or in 

  

 3 

 
the payment of any Indebtedness in excess of $5,000,000.00 due to the Owner Participant or any of its Affiliates or, to the extent not covered in any other
clause of this Article 15(a), shall default in the performance of any other material obligation to, or observance of any material covenant for the benefit of, the Owner Participant or any of its Affiliates which results in the acceleration of the
Indebtedness due in excess of $5,000,000 under any loan, note, indenture, security agreement, lease, guarantee, title retention or conditional sales agreement or other instrument or agreement evidencing such indebtedness or obligation; or

  
 11. Section 13(a) of the Demise Charter is hereby deleted in
its entirety and replaced with the following: 
  
 (a) Subject to the rights of Charterer under Articles 10(a), 10(h) and the rights and obligations of Charterer under Article 16 hereof, on or before the last day of the Charter Period (but in no event prior to the expiration of the Term),
unless an Event of Loss has occurred or this Demise Charter has been terminated pursuant to Article 15(b) or use of any Vessel has been requisitioned and such requisition is continuing at the end of the Charter Period, Charterer shall effect
Redelivery of the Vessels to Shipowner at safe and suitably equipped berths at Tampa, Florida, or such other safe berths and safe port suitable for the Vessels on the coast of the United States designated by Shipowner, unless otherwise agreed by
Shipowner and Charterer, in class and in the order and condition required by the terms of Article 4, except for ordinary wear and tear not affecting class, with no required surveys or inspections which are due or overdue, with no less than eighteen
(18) months remaining until the next required dry docking for each of the Vessels, with no outstanding recommendations or requirements on the Vessels (nor subject to any damage or other condition which, if known to the Classification Society or
USCG, would result in such a recommendation or requirement), and free of all advertising or insignia placed thereon by the Charterer. Charterer shall give written notice to Shipowner of the expected time and port of Redelivery at least one hundred
eighty (180) days prior to Redelivery. At the request of Shipowner a surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redelivery. Charterer shall bear all survey
expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Owner Participant may require that Charterer lay up any Vessel at the time of
Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first one hundred eighty (180) days, and thereafter for the account of Owner Participant, at prevailing local
commercial rates, provided that such lay-up may be at a port designated by Charterer, subject to the other requirements of this Article 13(a). 
  
 12. The phrase “thirty (30) days” in each of Sections 15(a)(3), 15(a)(4 and 15(a)(5) of the Demise Charter shall be deleted in its entirety and
replaced with the phrase “fifteen (15) Business Days” 
  
 13. The phrase “ten (10) days” in each of clauses (ii) and (iii) of Section 15(b) of the Demise Charter shall be deleted in its entirety and replaced with the phrase “five (5) Business Days”. 
  

 4 

 14. The phrase “one (1) year” in clause (ii) of Article 16 is hereby deleted in its entirety
and replaced with the phrase “eighteen (18) months”. 
  
 15. Schedules B and C to the Demise Charter are hereby deleted in its entirety and replaced with Schedules B and C attached hereto. 
  
 16. The Charterer agrees to pay all fees and expenses, including any required filing fees and fees of counsel, incurred by the Owner Participant or the
Shipowner in connection with the negotiation, execution and delivery of this First Modification. 
  
 17. Except as expressly amended hereby, all of the terms, conditions and provisions of the Transaction Documents shall remain in full force and effect and
shall govern this First Modification. 
  
 18. This First
Modification may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same
instrument 
  
 19. By its signature below, the Owner Participant
instructs the Trustee to sign this First Modification. 
  
 [signature pages follow] 
  

 5 

 IN WITNESS WHEREOF, the parties have duly executed this First Modification as of the date first set forth
above. 
  

					
	STATE STREET BANK AND TRUST COMPANY OF CONNECTICUT, NATIONAL ASSOCIATION, in its individual capacity only as expressly stated herein and otherwise solely as Trustee of GTC
CONNECTICUT STATUTORY TRUST, a Connecticut statutory trust, Shipowner
		
	 By:
	 	 
	 	 	

	 	 	 Name:
	 	 
	 	 	 Title:
	 	 Authorized Signatory

  

 6 

			
	FLEET CAPITAL CORPORATION, Owner Participant
		
	 By:
	 	 
	 	 	

	 	 	 Name:

	 	 	 Title:

  

 7 

					
	 TECO OCEAN SHIPPING, INC., Charterer

		
	 By:
	 	 
	 	 	

	 	 	 Name:
	 	 D. Jeffrey Rankin

	 	 	 Title:
	 	 President

  

					
	 TECO ENERGY, INC., Guarantor

		
	 By:
	 	 
	 	 	

	 	 	 Name:
	 	 G. L. Gillette

	 	 	 Title:
	 	Senior Vice President – Finance and Chief Financial Officer

  

					
	 TECO TRANSPORT CORPORATION, Guarantor

		
	 By:
	 	 
	 	 	

	 	 	 Name:
	 	 D. Jeffrey Rankin

	 	 	 Title:
	 	 President – Chief Operating Officer

  

 8 

 SCHEDULE B 
 Schedule of Stipulated Loss Values 
  

							
	 	  	 Basic Hire Payment Date

	  	 Stipulated Loss Value
 Expressed as a
 Percentage of Lessor’s Cost

	  	 
	1	  	December 21, 2001	  	102.000000	  	 
	2	  	March 21, 2002	  	103.765000	  	 
	3	  	July 2, 2002	  	106.123700	  	 
	4	  	January 2, 2003	  	101.835860	  	 
	5	  	July 2, 2003	  	105.110000	  	 
	6	  	January 2, 2004	  	98.407000	  	 
	7	  	July 2, 2004	  	103.211849	  	 
	8	  	January 2, 2005	  	96.133019	  	 
	9	  	July 2, 2005	  	99.147050	  	 
	10	  	January 2, 2006	  	91.816753	  	 
	11	  	July 2, 2006	  	94.588245	  	 
	12	  	January 2, 2007	  	86.526764	  	 
	13	  	July 2, 2007	  	76.414128	  	 
	14	  	January 2, 2008	  	78.066930	  	 
	15	  	July 2, 2008	  	67.592141	  	 
	16	  	January 2, 2009	  	68.931186	  	 
	17	  	July 2, 2009	  	58.135267	  	 
	18	  	January 2, 2010	  	59.145609	  	 
	19	  	July 2, 2010	  	48.013465	  	 
	20	  	January 2, 2011	  	48.679806	  	 
	21	  	July 2, 2011	  	37.206311	  	 
	22	  	January 2, 2012	  	37.563671	  	 
	23	  	July 2, 2012	  	26.110082	  	 
	24	  	January 2, 2013	  	26.441173	  	 
	25	  	July 2, 2013	  	19.015189	  	 
	26	  	December 21, 2013	  	17.500000	  	 

  

 9 

 SCHEDULE C 
 Schedule of base rental factors 
 (Expressed as a Percentage of Lessor’s Costs) 

 

											
	 	  	 Basic Hire Payment Date

	  	Advance
Rental Factor

	  	Arrears Rental
Factor

	  	Total Base
Rental Factor

	  	 
	1	  	December 21, 2001	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	2	  	March 21, 2002	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	3	  	July 2, 2002	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	4	  	January 2, 2003	  	0.00000000	  	7.82218048	  	7.82218048	  	 
	5	  	July 2, 2003	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	6	  	January 2, 2004	  	0.00000000	  	10.01338986	  	10.01338986	  	 
	7	  	July 2, 2004	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	8	  	January 2, 2005	  	0.00000000	  	10.38264310	  	10.38264310	  	 
	9	  	July 2, 2005	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	10	  	January 2, 2006	  	0.00000000	  	10.38264310	  	10.38264310	  	 
	11	  	July 2, 2006	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	12	  	January 2, 2007	  	12.61678850	  	10.38264310	  	22.99943160	  	 
	13	  	July 2, 2007	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	14	  	January 2, 2008	  	12.67459050	  	0.00000000	  	12.67459050	  	 
	15	  	July 2, 2008	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	16	  	January 2, 2009	  	12.67459050	  	0.00000000	  	12.67459050	  	 
	17	  	July 2, 2009	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	18	  	January 2, 2010	  	12.67459050	  	0.00000000	  	12.67459050	  	 
	19	  	July 2, 2010	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	20	  	January 2, 2011	  	12.67459050	  	0.00000000	  	12.67459050	  	 
	21	  	July 2, 2011	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	22	  	January 2, 2012	  	12.34866410	  	0.00000000	  	12.34866410	  	 
	23	  	July 2, 2012	  	0.00000000	  	0.00000000	  	0.00000000	  	 
	24	  	January 2, 2013	  	6.01337990	  	0.00000000	  	6.01337990	  	 
	25	  	July 2, 2013	  	0.00000000	  	2.09845990	  	2.09845990	  	 
	26	  	December 21, 2013	  	0.00000000	  	1.97021990	  	1.97021990	  	 
	 	  	 	  	81.67719450	  	53.05217944	  	134.72937394	  	 

  

 10Second Modification agreement dated 03-09-2004

 Exhibit 10.44 
  
 SECOND MODIFICATION AGREEMENT 
  
 This SECOND MODIFICATION AGREEMENT (the “Second Modification”), dated as of March 9, 2004, is made by and among STATE STREET BANK AND
TRUST COMPANY OF CONNECTICUT, National Association, a national banking association, solely as Trustee of TTC TRUST, LTD., a Connecticut statutory trust (the “Shipowner”), GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation,
and OFS MARINE ONE, INC., a New York corporation (each an “Owner Participant” and collectively the “Owner Participants”), TECO OCEAN SHIPPING, INC. and TECO BARGE LINE, INC., each a Florida corporation (as demise
charterers of the Vessels, each a “Charterer” and collectively, “Charterers”), TECO ENERGY, INC. and TECO TRANSPORT CORPORATION, each a Florida corporation (each a “Guarantor” and collectively the
“Guarantors”; the Charterers and the Guarantors being hereinafter sometimes collectively referred to as the “Obligors”). 
  
 WHEREAS, the Shipowner, the Owner Participants and the Obligors are parties to that certain Agreement to Acquire and Charter, dated as of December 30,
2002, as amended by a First Modification Agreement, dated as of March 28, 2003 (the “Agreement”), and the related Transaction Documents executed in connection therewith, that provide, among other things, for the sale and charterback
of the Vessels as more particularly described therein (capitalized terms used in this Second Modification that are not otherwise defined herein shall have the meanings ascribed to such terms in Schedule A to the Agreement); 
  
 WHEREAS, the Guarantors have requested the Shipowner and the Owner
Participants to make certain clarifying changes and modifications to certain of the Transaction Documents to effectuate the intent of the parties. 
  
 NOW, THEREFORE, in consideration of the foregoing premises, the parties hereby agree as follows: 
  
 1. The following new definition is hereby inserted in Schedule A to
the Agreement and in Schedule A to each of the TBL Charter and the TOS Charter immediately after the definition of the term “Excluded Cargoes”: 
  
 “Excluded Indebtedness” shall mean the Indebtedness listed on Schedule A-1 attached
hereto and made a part hereof, and any Indebtedness to refinance all or any part of any of the Indebtedness listed on Schedule A-1; provided, however, that if any portion of Indebtedness listed on Schedule A-1 is guaranteed by
or becomes the obligation of either or both of the Charterers and/or the Guarantors, such portion of such Indebtedness that is guaranteed by or becomes the obligation of either or both of the Charterers and/or the Guarantors shall not be deemed to
be Excluded Indebtedness. 
  
 2. Schedule A-1 attached
hereto is hereby added to Schedule A to the Agreement and to Schedule A to each of the TBL Charter and the TOS Charter. 
  

 3. Article 15(a)(11) of the TBL Charter is hereby deleted in its entirety and replaced with the
following: 
  
 (11) Charterer or any Affiliate
thereof shall default (after the expiration of any applicable period of grace with respect thereto) in the payment of any Indebtedness (other than Excluded Indebtedness) in excess of $10,000,000.00, or in the payment of any Indebtedness (other than
Excluded Indebtedness) due to any Owner Participant or any of its Affiliates, or, to the extent not covered in any other clause of this Article 15(a), shall default in the performance of any other material obligation to, or observance of any
material covenant for the benefit of, any Owner Participant or any of its Affiliates which results in the acceleration of any Indebtedness (other than Excluded Indebtedness) due under any loan, note, indenture, security agreement, lease, guarantee,
title retention or conditional sales agreement or other instrument or agreement evidencing such Indebtedness (other than Excluded Indebtedness); or 
  
 4. Article 15(a)(11) of the TOS Charter is hereby deleted in its entirety and replaced with the following: 
  
 (11) Charterer or any Affiliate thereof shall default (after
the expiration of any applicable period of grace with respect thereto) in the payment of any Indebtedness (other than Excluded Indebtedness) in excess of $10,000,000.00, or in the payment of any Indebtedness (other than Excluded Indebtedness) due to
any Owner Participant or any of its Affiliates, or, to the extent not covered in any other clause of this Article 15(a), shall default in the performance of any other material obligation to, or observance of any material covenant for the benefit of,
any Owner Participant or any of its Affiliates which results in the acceleration of any Indebtedness (other than Excluded Indebtedness) due under any loan, note, indenture, security agreement, lease, guarantee, title retention or conditional sales
agreement or other instrument or agreement evidencing such Indebtedness (other than Excluded Indebtedness); or 
  
 5. Section 6.1(e) of the Agreement is hereby deleted in its entirety and replaced with the following: 
  
 (e) any Guarantor, or any Affiliate thereof shall default
(after the expiration of any applicable period of grace with respect thereto) in the payment of any Indebtedness (other than Excluded Indebtedness) in excess of $10,000,000.00, or in the payment of any Indebtedness (other than Excluded Indebtedness)
due to any Owner Participant or any of its Affiliates, or, to the extent not covered in any other subsection of this Section 6.1, shall default in the performance of any other material obligation to, or observance of any material covenant for the
benefit of, any Owner Participant or any of its Affiliates which results in the acceleration of any Indebtedness (other than Excluded Indebtedness) due under any loan, note, indenture, security agreement, lease, guarantee, title retention or
conditional sales agreement or other instrument or agreement evidencing such Indebtedness (other than Excluded Indebtedness). 
  
 6. In consideration of the execution of this Second Modification, the Charterers and the Guarantors hereby agree to pay to the Owner Participants upon
demand the fees and expenses set forth in a letter agreement of even date herewith from the Charterers to the Owner Participants. The Guarantors and Charterers hereby agree that they, jointly and severally, will pay on demand 

  

 2 

 
all expenses reasonably incurred by the Shipowner and/or any Owner Participant in connection with the administration or enforcement of this Second
Modification. 
  
 7. Except as expressly amended hereby, all of
the terms, conditions and provisions of the Transaction Documents shall continue to remain in full force and effect. 
  
 8. This Second Modification may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when
executed shall be deemed to be an original but all of which taken together shall constitute one and the same instrument. 
  
 9. This Second Modification shall be governed by, and construed in accordance with, the laws of the State of New York. 
  
 10. By their signatures below, each Owner Participant instructs the Trustee
to sign this Second Modification. 
  
 [signature pages follow]

  

 3 

 IN WITNESS WHEREOF, the parties have duly executed this Second Modification as of the date first set
forth above. 
  

					
	TTC TRUST, LTD., a Connecticut statutory trust, Shipowner
	
	By: STATE STREET BANK AND TRUST COMPANY OF CONNECTICUT, National Association, not in its individual capacity but solely as Trustee
			
	 	 	By:	 	 
	 	 	 	 	

	 	 	 	 	 Name:

	 	 	 	 	 Title: Authorized Signatory

  

 4 

			
	GENERAL ELECTRIC CAPITAL CORPORATION, Owner Participant
		
	By:	 	 
	 	 	

	 	 	 Name

	 	 	 Title

  

 5 

			
	OFS MARINE ONE, INC., Owner Participant
		
	By:	 	 
	 	 	

	 	 	 Name:

	 	 	 Title:

  

 6 

			
	TECO BARGE LINE, INC., Charterer
		
	By:	 	 
	 	 	

	 	 	 Name:

	 	 	 Title:

	
	TECO OCEAN SHIPPING, INC., Charterer
		
	By:	 	 
	 	 	

	 	 	 Name:

	 	 	 Title

	
	TECO ENERGY, INC., Guarantor
		
	By:	 	 
	 	 	

	 	 	 Name:

	 	 	 Title

	
	TECO TRANSPORT CORPORATION, Guarantor
		
	By:	 	 
	 	 	

	 	 	 Name:

	 	 	 Title

  

 7 

 Schedule A-1 – Excluded Indebtedness 
  

									
	 Item of Indebtedness

	  	Maturity

	  	 Borrower

	  	Facility

	  	Amount1

	 Consolidated Affiliates:
	  	 	  	 	  	 	  	 
	 1.      Non-recourse secured facility notes: variable rate
	  	2003 - 07	  	Central Generadora Eléctrica San José, Ltda.	  	San Jose	  	36.4
	 2.      Non-recourse secured facility notes
	  	2003 - 09	  	Central Generadora Eléctrica San José, Ltda.	  	San Jose	  	15.9
	 3.      Non-recourse secured facility notes
	  	2003 - 10	  	Central Generadora Eléctrica San José, Ltda.	  	San Jose	  	19.9
	 4.      Non-recourse secured facility notes: variable rate
	  	2004 - 09	  	Tampa Centro Americana de Electricidad, Ltda.	  	Alborada	  	9.0
	 5.      Non-recourse secured facility notes: variable rate
	  	2004 - 09	  	Tampa Centro Americana de Electricidad, Ltda.	  	Alborada	  	11.0
	 6.      Non-recourse secured facility notes: variable rate
	  	2004 - 09	  	TPS Operaciones de Guatemala, Ltda.	  	Alborada	  	7.0
	 7.      Non-recourse secured facility notes: variable rate
	  	2004 - 09	  	TPS Operaciones de Guatemala, Ltda.	  	Alborada	  	3.0
	 8.      Non-recourse mortgage notes
	  	2003-2004	  	B-T One, LLC	  	 	  	5.3
	 9.      Non-recourse mortgage notes
	  	2003-2004	  	B-T One, LLC	  	 	  	2.5
	 10.    Non-recourse secured facility notes: variable rate
	  	2004 - 06	  	Panda Gila River, L.P.	  	Gila River	  	741.0
	 11.    Non-recourse secured facility notes: variable rate
	  	2004 - 06	  	Union Power Partners, L.P.	  	Union	  	654.0
	 12.    Non-recourse secured financing facility: Union County
	  	2003 - 21	  	Union Power Partners, L.P.	  	Union	  	696.1
	 	  	 	  	 	  	 	  	

	 	  	 	  	 	  	 	  	2,201.1
	 	  	 	  	 	  	 	  	

	 Unconsolidated Entities:2
	  	 	  	 	  	 	  	 
	 13.    Non-recourse secured facility notes: variable rate
	  	2003-2018	  	Empresa Electrica de Guatemala, S.A.	  	EEGSA	  	227.2
	 14.    Non-recourse secured facility notes: variable rate
	  	2003-2007	  	Odessa-Ector Power Partners, L.P.	  	Odessa	  	248.5
	 15.    Non-recourse secured facility notes: variable rate
	  	2003-2006	  	Guadalupe Power Partners, L.P.	  	Guadalupe	  	231.2
	 16.    Non-recourse secured facility notes
	  	2011	  	Texas Independent Energy, L.P.	  	TIE equity	  	70.0
	 17.    Non-recourse secured facility notes (synthetic lease)
	  	2028	  	Hamakua Energy Partners, L.P.	  	Hamakua	  	85.5
	 	  	 	  	 	  	 	  	

	 	  	 	  	 	  	 	  	862.4
	 	  	 	  	 	  	 	  	

	 Total Non-recourse debt
	  	 	  	 	  	 	  	3,063.5
	 	  	 	  	 	  	 	  	

	1	($millions). Amounts for Consolidated Affiliates in lines 1-12 are as reported in the TECO
Energy, Inc. Form 10-Q for the third quarter of 2003; with items 4, 5, and 7 combined as a single item on the Form 10Q. 

  

	2	Entities in which TECO Energy, Inc. holds an interest, but which are not Affiliates as of the
date this Schedule A-1 became effective.

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