Document:

Exhibit 4.01

 

SUPPLEMENTAL TRUST INDENTURE

 

FROM

 

NORTHERN STATES POWER COMPANY

(A WISCONSIN CORPORATION)

 

TO

 

U.S. BANK NATIONAL ASSOCIATION 

(formerly known as FIRSTAR BANK NATIONAL ASSOCIATION)

 

TRUSTEE

 

DATED AS OF

SEPTEMBER 1, 2008

 

SUPPLEMENTAL
TO TRUST INDENTURE

DATED APRIL 1, 1947

 

AND

 

SUPPLEMENTAL
AND RESTATED 

TRUST INDENTURE

 

DATED
MARCH 1, 1991

 

 

TABLE OF
CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  PARTIES

  	
   

  	
  1

  
	
   

  	
   

  	
   

  
	
  RECITALS

  	
   

  	
  1

  
	
   

  	
   

  
	
  ARTICLE I
          SPECIFIC SUBJECTION OF
  ADDITIONAL PROPERTY TO THE LIEN OF THE INDENTURE

  	
  8

  
	
   

  	
   

  
	
  Section 1.01

  	
  Grant of Certain Property,
  Including Personal Property to Comply with the Uniform Commercial Code,
  Subject to Permitted Encumbrances Contained in the Indenture

  	
  8

  
	
   

  	
   

  
	
  ARTICLE II
          FORM AND EXECUTION OF
  SERIES DUE SEPTEMBER 1, 2038

  	
  9

  
	
   

  	
   

  
	
  Section 2.01

  	
  Series Due
  September 1, 2038

  	
  9

  
	
   

  	
   

  	
   

  
	
  Section 2.02

  	
  Redemption of Bonds

  	
  10

  
	
   

  	
   

  	
   

  
	
  Section 2.03

  	
  Surrender

  	
  11

  
	
   

  	
   

  	
   

  
	
  Section 2.04

  	
  Taxes and Governmental
  Charges

  	
  11

  
	
   

  	
   

  	
   

  
	
  Section 2.05

  	
  Book-Entry System

  	
  11

  
	
   

  	
   

  
	
  ARTICLE III
          APPOINTMENT OF AUTHENTICATING
  AGENT

  	
  14

  
	
   

  	
   

  
	
  Section 3.01

  	
  Appointment of Agent or
  Agents for Bonds of Series due September 1, 2038

  	
  14

  
	
   

  	
   

  	
   

  
	
  Section 3.02

  	
  Concerning the Agent

  	
  15

  
	
   

  	
   

  	
   

  
	
  Section 3.03

  	
  Form of Alternate
  Certificate of Authentication

  	
  15

  
	
   

  	
   

  	
   

  
	
  Section 3.04

  	
  Limit on Location and Number
  of Agents

  	
  16

  
	
   

  	
   

  
	
  ARTICLE IV
          FINANCING STATEMENT TO COMPLY
  WITH THE UNIFORM COMMERCIAL CODE

  	
  16

  
	
   

  	
   

  
	
  Section 4.01

  	
  Names and Addresses of Debtor
  and Securing Party

  	
  16

  
	
   

  	
   

  	
   

  
	
  Section 4.02

  	
  Property Subject to Lien

  	
  16

  
	
   

  	
   

  	
   

  
	
  Section 4.03

  	
  Maturity Dates and Principal
  Amounts of Obligations Secured

  	
  16

  
	
   

  	
   

  	
   

  
	
  Section 4.04

  	
  Financing Statement Adopted
  for all First Mortgage Bonds Listed in Section 4.03

  	
  17

  
	
   

  	
   

  	
   

  
	
  Section 4.05

  	
  Recording Data for the
  Indenture

  	
  17

  
	
   

  	
   

  	
   

  
	
  Section 4.06

  	
  Mortgage Bonds

  	
  17

  

 

i

 

TABLE OF
CONTENTS

(continued)

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE V
          MISCELLANEOUS

  	
  17

  
	
   

  	
   

  
	
  Section 5.01

  	
  Recitals of Fact, Except as
  Stated, are Statements of the Company

  	
  17

  
	
   

  	
   

  	
   

  
	
  Section 5.02

  	
  Supplemental Indenture to be
  Construed as Part of the Indenture

  	
  18

  
	
   

  	
   

  	
   

  
	
  Section 5.03

  	
  Trust Indenture Act and
  Severability

  	
  18

  
	
   

  	
   

  	
   

  
	
  Section 5.04

  	
  Indenture

  	
  18

  
	
   

  	
   

  	
   

  
	
  Section 5.05

  	
  References to Either Party in
  Supplemental Trust Indenture Include Successors or Assigns

  	
  18

  
	
   

  	
   

  	
   

  
	
  Section 5.06

  	
  Counterparts and Headings

  	
  18

  
	
   

  	
   

  
	
  Schedule A –
  Properties

  	
   

  

 

ii

 

Supplemental Trust Indenture, made
effective as of the 1st day of September, 2008, by and between
NORTHERN STATES POWER COMPANY, a corporation duly organized and existing under
and by virtue of the laws of the State of Wisconsin, having its principal
office in the City of Eau Claire, Wisconsin (the “Company”), party of the first
part, and U.S. BANK NATIONAL ASSOCIATION, a national banking association
organized and existing under and by virtue of the laws of the United States of
America, having its principal office in the City of St. Paul, Minnesota (as
successor Trustee to Firstar Bank Milwaukee), as trustee (the “Trustee”), party
of the second part;

 

WITNESSETH:

 

WHEREAS, the Company, has heretofore executed and delivered to the
Trustee its Trust Indenture, made as of April 1, 1947 (the “1947 Indenture”),
whereby the Company granted, bargained, sold, warranted, released, conveyed,
assigned, transferred, mortgaged, pledged, set over and confirmed to the
Trustee, and to its respective successors in trust, all property, real,
personal and mixed then owned or thereafter acquired or to be acquired by the
Company (except as therein excepted from the lien thereof) and subject to the
rights reserved by the Company in and by the provisions of the 1947 Indenture,
to be held by said Trustee in trust in accordance with the provisions of the
1947 Indenture for the equal pro rata benefit and security of all and every of
the bonds issued and to be issued thereunder in accordance with the provisions
thereof; and

 

WHEREAS, the Indenture (as defined below) provides that bonds may be
issued thereunder in one or more series, each series to have such distinctive
designation as the Board of Directors of the Company may select for such
series; and

 

WHEREAS, the Company heretofore has executed and delivered to the
Trustee the following Supplemental Trust Indentures which, in addition to
conveying, assigning, transferring, mortgaging, pledging, setting over and
confirming to the Trustee, and its respective successors in said trust,
additional property acquired by it subsequent to the preparation of the next
preceding Supplemental Trust Indenture and adding to the covenants, conditions
and agreements of the Indenture certain additional covenants, conditions and
agreements to be observed by the Company, created the following series of First
Mortgage Bonds:

 

 

	
  Date of Supplemental  

  Trust
  Indenture

  	
   

  	
  Designation
  of Series

  
	
   

  	
   

  	
   

  
	
  March 1,
  1949

  	
   

  	
  Series due
  March 1, 1979 (retired)

  
	
  June 1,
  1957

  	
   

  	
  Series due
  June 1, 1987 (retired)

  
	
  August 1,
  1964

  	
   

  	
  Series due
  August 1, 1994 (redeemed)

  
	
  December 1,
  1969

  	
   

  	
  Series due
  December 1, 1999 (redeemed)

  
	
  September 1,
  1973

  	
   

  	
  Series due
  October 1, 2003 (redeemed)

  
	
  February 1,
  1982

  	
   

  	
  Pollution
  Control Series A (redeemed)

  
	
  March 1,
  1982

  	
   

  	
  Series due
  March 1, 2012 (redeemed)

  
	
  June 1,
  1986

  	
   

  	
  Series due
  July 1, 2016 (redeemed)

  
	
  March 1,
  1988

  	
   

  	
  Series due
  March 1, 2018 (redeemed)

  
	
  April 1,
  1991

  	
   

  	
  Series due
  April 1, 2021 (redeemed)

  
	
  March 1,
  1993

  	
   

  	
  Series due
  March 1, 2023 (redeemed)

  
	
  October 1,
  1993

  	
   

  	
  Series due
  October 1, 2003 (retired)

  
	
  December 1,
  1996

  	
   

  	
  Series due
  December 1, 2026

  
	
  September 1,
  2003

  	
   

  	
  Series A
  due October 1, 2018, and Series B due October 1, 2018

  

 

WHEREAS, the 1947 Indenture and all of the foregoing Supplemental Trust
Indentures are referred to herein collectively as the “Original Indenture”; and

 

WHEREAS, the Company heretofore has executed and delivered to the
Trustee a Supplemental and Restated Trust Indenture, dated March 1, 1991
(the “Restated Indenture”), which, in addition to conveying, assigning,
transferring, mortgaging, pledging, setting over and confirming to the Trustee,
and its respective successors in said trust, additional property acquired by it
subsequent to the preparation of the next preceding Supplemental Trust
Indenture, amended and restated the Original Indenture; and

 

WHEREAS, the Restated Indenture became effective and operative on October 1,
1993; and

 

WHEREAS, the Original Indenture, the Restated Indenture and all trust
indentures supplemental thereto are referred to herein collectively as the “Indenture”
and certain capitalized terms defined in Section 1.03 of the Restated
Indenture are used with the same meanings herein; and

 

WHEREAS, the Company is desirous of providing for the creation under
the Indenture of a new series of First Mortgage Bonds, said new series of bonds
to be designated “First Mortgage Bonds, Series due September 1,
2038” the
bonds of said series to be issued as registered bonds without coupons in denominations
of a multiple of $1,000, and the bonds of said series to be substantially in the following form:

 

2

 

(Form of Bonds of Series due September 1,
2038)

NORTHERN STATES POWER COMPANY

(Incorporated under the laws of the State of Wisconsin)

First Mortgage Bond

Series due September 1, 2038

CUSIP 665789 AW3

 

	
  No.

  	
   

  	
   

  	
  $

  	
   

  

 

Unless this certificate is presented by an authorized representative of
The Depository Trust Company, a New York corporation, to the issuer or its
agent for registration of transfer, exchange or payment, and any certificate
issued is registered in the name of Cede & Co. or such other name as
requested by an authorized representative of The Depository Trust Company (and
any payment is made to Cede & Co. or to such other entity as is
requested by an authorized representative of The Depository Trust Company), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL since the registered owner hereof, Cede & Co., has an
interest herein.*

 

EXCEPT UNDER THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, THIS GLOBAL BOND MAY NOT
BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY OR BY A NOMINEE OF THE
DEPOSITORY TO THE DEPOSITORY, ANOTHER NOMINEE OF THE DEPOSITORY, A SUCCESSOR OF
THE DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR.
*

 

NORTHERN STATES POWER COMPANY, a corporation organized and existing
under and by virtue of the laws of the State of Wisconsin (the “Company”), for
value received, hereby promises to pay to Cede & Co. or its registered
assigns, at the office of the Trustee in St. Paul, Minnesota, the sum of
                  
Dollars in lawful money of the United States of America, on the 1st
day of September 2038, and to pay interest hereon from the date hereof at
the rate of 6.375 percent per annum, in like money, until
the principal hereof becomes due and payable; said interest being payable to
the person entitled to such interest at the office of U.S. Bank National
Association in  St. Paul, Minnesota on
the 1st day of March and on the 1st day of September in
each year; provided that at the option of the Company payment of interest may
be made by wire transfer to the person entitled thereto if such person has
provided proper wire transfer instructions or by check mailed to the address of
such person as such address shall appear in the Bond Register maintained by the
Trustee; provided further that as long as there is no existing default in the
payment of interest and except for the payment of defaulted interest, the
interest payable on any March 1 or September 1 will be paid to the
person in whose name this bond was registered at the close of business on the
record date (the February 15 prior to such March 1 or August 15
prior to such September 1 whether or not a business day).  If any interest payment date or date on which
the principal of this bond is required to be paid is not a business day, then
payment of principal, premium or interest need not be made on such date but may
be made on the next succeeding business day with the same force and effect as
if made on such interest payment date or date on which the principal of this
bond is required to be paid and, in the case of 

 

* This
legend to be included if the bonds are issued as a global bond in book-entry
form.

 

3

 

timely payment
thereof, no interest shall accrue for the period from and after such interest
payment date or the date on which the principal of this bond is required to be
paid.  The term “business day” shall mean any day other than a Saturday or
Sunday or a day on which the offices of the Trustee in the City of St. Paul,
Minnesota are closed pursuant to authorization of law.

 

This bond is one of a duly authorized issue of bonds of the Company,
known as its First Mortgage Bonds, of the series and designation indicated on
the face hereof, which issue of bonds consists, or may consist, of several
series of varying denominations, dates and tenor, all issued and to be issued
under and equally secured (except insofar as a sinking fund, or similar fund,
established in accordance with the provisions of the Indenture may afford
additional security for the bonds of any specific series) by a Trust Indenture
dated April 1, 1947 (the “1947 Indenture”), as supplemented by 14
supplemental trust indentures (collectively, the “Supplemental Indentures”), a
Supplemental and Restated Trust Indenture dated March 1, 1991 (the “Restated
Indenture”) and a new supplemental trust indenture for the bonds of this series
(the “New Supplemental Indenture”), all of which instruments are herein
collectively called the “Indenture,” executed by the Company to U.S. Bank
National Association, as successor trustee (the “Trustee”).  The Restated Indenture amends and restates
the 1947 Indenture and certain of the Supplemental Indentures and became
effective and operative on October 1, 1993.  Certain capitalized terms defined in
the Indenture are used with the same meanings herein.  Reference is made to the Indenture for a
complete description of its terms.  Reference hereby
is made to the Indenture for a description of the property mortgaged and
pledged, the nature and extent of the security, the rights of the registered
holders of the bonds as to such security and the terms and conditions upon
which the bonds may be issued under the Indenture and are secured.  The principal hereof may be declared or may
become due on the conditions, in the manner and at the time set forth in the
Indenture upon the happening of a Completed Default as provided in the
Indenture.

 

With the consent of the Company and to the extent permitted by and as
provided in the Indenture, the rights and obligations of the Company and of the
registered holders of the bonds and the terms and provisions of the Indenture
and of any instruments supplemental thereto may be modified or altered by the
affirmative vote of the registered holders of at least 66 2/3% in principal
amount of the bonds then outstanding under the Indenture and any instruments
supplemental thereto (excluding bonds disqualified from voting by reason of the
interest of the Company or of certain related persons therein as provided in
the Indenture); provided that without the consent of all registered holders of
all bonds affected no such modification or alteration shall permit the
extension of the maturity of the principal of any bond or the reduction in the
rate of interest hereon or any other modification in the terms of payment of
such principal or interest.

 

The Company and the Trustee may deem and treat the person in whose name
this bond is registered as the absolute owner hereof for the purpose of
receiving payment of or on account of the principal hereof and interest hereon
and for all other purposes and shall not be affected by any notice to the
contrary.

 

The bonds of the Series due September 1,
2038, shall be redeemable at the option of the Company as a whole or in part on
any date upon not less than 30 days’ previous notice to be given in the manner
and with the effect provided in Section 10.02 of the Indenture at a 

 

4

 

redemption
price equal to the greater of (a) 100% of the principal amount being
redeemed or (b) the sum of the present values of the remaining scheduled
payments of principal and interest on the bonds of the Series due September 1,
2038 that are being redeemed (excluding the portion of any such interest
accrued to the date fixed for redemption), discounted to the date fixed for
redemption on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Treasury Yield plus 35 basis points, plus accrued and
unpaid interest to the date fixed for redemption date.

 

“Treasury Yield” means, for any date fixed
for redemption, (1) the yield, under the heading which represents the
average for the immediately preceding week, appearing in the most recently
published statistical release designated “H.15(519)” or any successor
publication which is published weekly by the Board of Governors of the Federal
Reserve System and which establishes yields on actively traded U.S. Treasury
securities adjusted to constant maturity under the caption “Treasury Constant
Maturities,” for the maturity corresponding to the Comparable Treasury Issue
(if no maturity is within three months before or after the remaining term,
yields for the two published maturities most closely corresponding to the
Comparable Treasury Issue will be determined and the Treasury Yield will be
interpolated or extrapolated from such yields on a straight line basis,
rounding to the nearest month); or (2) if such release (or any successor
release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semiannual
equivalent yield to maturity of the Comparable Treasury Issue, calculated using
a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such date fixed
for redemption. The Treasury Yield will be calculated on the third business day
preceding the date fixed for redemption.

 

“Comparable Treasury Issue” means the U.S.
Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term of the first mortgage bonds being
redeemed that would be utilized, at the time of selection and in accordance
with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the first mortgage
bonds being redeemed.

 

“Comparable Treasury Price” means (1) the
average of the Reference Treasury Dealer Quotations for the date fixed for
redemption, after excluding the highest and lowest Reference Treasury Dealer
Quotations for the date fixed for redemption, or (2) if the Trustee
obtains fewer than four Reference Treasury Dealer Quotations, the average of
all of the Reference Treasury Dealer Quotations.

 

“Independent Investment Banker” means Banc of
America Securities LLC or BNY Mellon Capital Markets, LLC or their respective
successors or, if such firms or successors are unwilling or unable to select
the Comparable Treasury Issue, an independent investment banking institution of
national standing appointed by the Trustee after consultation with us.

 

“Reference Treasury Dealer” means (1) each
of Banc of America Securities LLC and BNY Mellon Capital Markets, LLC and any
other primary U.S. Government securities dealer in the United States (a “Primary
Treasury Dealer”) designated by, and not affiliated with, Banc of America
Securities LLC or BNY Mellon Capital Markets, LLC or their respective
successors, provided, however, that if Banc of America Securities LLC or BNY
Mellon Capital Markets, 

 

5

 

LLC or any of
their respective designees ceases to be a Primary Treasury Dealer, we will
appoint another Primary Treasury Dealer as a substitute and (2) any other
Primary Treasury Dealer selected by us after consultation with an Independent
Investment Banker.

 

“Reference Treasury Dealer Quotations” means,
for each Reference Treasury Dealer and any date fixed for redemption, the
average, as determined by the Independent Investment Banker, of the bid and
asked prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to the Independent
Investment Banker by the Reference Treasury Dealer at 5:00 p.m., New York
City Time, on the third business day preceding the date fixed for redemption.

 

This bond is transferable as prescribed in the Indenture by the
registered holder hereof in person, or by his duly authorized attorney, at the
office of the Trustee in St. Paul, Minnesota, or elsewhere if authorized by the
Company, upon surrender and cancellation of this bond, and thereupon a new bond
or bonds of the same series and of a like aggregate principal amount will be
issued to the transferee in exchange therefor as provided in the Indenture,
upon payment of taxes or other governmental charges, if any, that may be
imposed in relation thereto.

 

Bonds of this series are interchangeable as to denominations in the
manner and upon the conditions prescribed in the Indenture.

 

No charge shall be made by the Company for any exchange or transfer of
bonds of this series, other than for taxes or other governmental charges, if
any, that may be imposed in relation thereto.

 

The Company shall not be required to issue,
transfer or exchange any bond of this series during a period of 15 days
immediately preceding any selection of bonds of this series to be
redeemed.  The Company shall not be
required to transfer or exchange any bond of this series called or being called
for redemption in its entirety or to transfer or exchange the called portion of
a bond of this series which has been called for partial redemption.

 

No recourse shall be had for the payment of the principal of or any
premium or the interest on this bond, or any part thereof, or of any claim
based hereon or in respect hereof or of said Indenture, against any incorporator,
or any past, present or future shareholder, officer or director of the Company
or of any predecessor or successor corporation, either directly or through the
Company, or through any such predecessor or successor corporation, or through
any receiver or a trustee in bankruptcy, whether by virtue of any constitution,
statute or rule of law or by the enforcement of any assessment or penalty
or otherwise, all such liability being, by the acceptance hereof and as part of
the consideration for the issue hereof, expressly waived and released, as more
fully provided in the Indenture.

 

This bond shall not be valid or become obligatory for any purpose
unless and until the certificate of authentication hereon shall have been
signed by or on behalf of U.S. Bank National Association, as successor Trustee
under the Indenture, or its successor thereunder.

 

6

 

IN
WITNESS WHEREOF, NORTHERN STATES POWER COMPANY has caused this bond to be
signed in its name by its President or a Vice President and its corporate seal,
or a facsimile thereof, to be hereto affixed and attested by its Secretary or
an Assistant Secretary.

 

	
  Dated:

  	
   

  	
   

  	
  NORTHERN
  STATES POWER COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
  Attest:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  [Vice]
  President

  

 

(Form of Trustee’s
Certificate)

 

This
bond is one of the bonds of the series designated thereon, described in the
within-mentioned Indenture.

 

	
   

  	
   

  	
   

  	
  U.S.
  BANK NATIONAL ASSOCIATION, as 

  
	
   

  	
  Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized
  Officer

  

 

and

 

WHEREAS,
the Company is desirous of conveying, assigning, transferring, mortgaging,
pledging, setting over and confirming to the Trustee and to its respective
successors in trust, additional property acquired by it subsequent to the date
of the preparation of the Supplemental Trust Indenture dated as of September 1,
2003; and

 

WHEREAS,
the Indenture provides in substance that the Company and the Trustee may enter
into indentures supplemental thereto for the purposes, among others, of
creating and setting forth the terms of any new series of bonds and of
conveying, assigning, transferring, mortgaging, pledging, setting over and
confirming to the Trustee additional property of the Company, and for any other
purpose not inconsistent with the terms of the Indenture; and

 

WHEREAS,
the execution and delivery of this Supplemental Trust Indenture have been duly
authorized by a resolution adopted by the Board of Directors or an Executive
Committee of the Board of Directors of the Company;

 

WHEREAS,
the Trustee has duly determined to execute this Supplemental Trust Indenture
and to be bound, insofar as it may lawfully do so, by the provisions hereof;

 

NOW,
THEREFORE, Northern States Power Company, in consideration of the premises and
of one dollar duly paid to it by the Trustee at or before the ensealing and
delivery of these presents, the receipt of which is hereby acknowledged, and
other good and valuable considerations, does hereby covenant and agree to and
with U.S. Bank National Association, as Trustee, and its successors in the
trust under the Indenture for the benefit of the registered holders of the
bonds, or any of them, issued or to be issued thereunder, as follows:

 

7

 

ARTICLE
I

SPECIFIC SUBJECTION OF ADDITIONAL PROPERTY

TO THE LIEN OF THE INDENTURE

 

SECTION 1.01.  The Company, in order to better secure the
payment, both of the principal and interest, of all bonds of the Company at any
time outstanding under the Indenture according to their tenor and effect and
the performance of and compliance with the covenants and conditions contained
in the Indenture, has granted, bargained, sold, warranted, released, conveyed,
assigned, transferred, mortgaged, pledged, set over and confirmed, and by these
presents does grant, bargain, sell, warrant, release, convey, assign, transfer,
mortgage, pledge, set over and confirm, unto U.S. Bank National Association, as
Trustee, and to its respective successors in said trust forever, subject to the
rights reserved by the Company in and by the provisions of the Indenture, all
of the property described and mentioned or enumerated in a schedule annexed
hereto and marked Schedule A, reference to said schedule being made hereby with
the same force and effect as if the same were incorporated herein at length;
together with all and singular the tenements, hereditaments and appurtenances
belonging and in any way appertaining to the aforesaid property or any part
thereof with the reversion and reversions, remainder and remainders, tolls,
rents and revenues, issues, income, products and profits thereof;

 

Also,
in order to subject the personal property and chattels of the Company to the
Lien of the Indenture and in conformity with the provisions of the Uniform
Commercial Code, all fossil, nuclear, hydro and other electric generating
plants, including buildings and other structures, turbines, generators,
boilers, reactors, nuclear fuel, other boiler plant equipment, condensing equipment
and all other generating equipment; substations; electric transmission and
distribution systems, including structures, poles, towers, fixtures, conduits,
insulators, wires, cables, transformers, services and meters; steam heating
mains and equipment; gas transmission and distribution systems, including
structures, storage facilities, mains, compressor stations, purifier stations,
pressure holders, governors, services and meters; office, shop and other
buildings and structures, furniture and equipment; apparatus and equipment of
all other kinds and descriptions; all municipal and other franchises, all
leaseholds, licenses, permits, privileges and patent rights, parts or
parcels of such real property; all as now owned or hereafter acquired by the
Company pursuant to the provisions of the Indenture;

 

All
the estate, right, title and interest and claim whatsoever, at law as well as
in equity, that the Company now has or hereafter may acquire in and to the
aforesaid property and franchises and every part and parcel thereof; excluding,
however, (1) all shares of stock, bonds, notes, evidences of indebtedness
and other securities other than such as may be or are required to be deposited
from time to time with the Trustee in accordance with the provisions of the Indenture;
(2) cash on hand and in banks other than such as may be or is required to
be deposited from time to time with the Trustee in accordance with the
provisions of the Indenture; (3) contracts, claims, bills and accounts
receivable and choses in action other than such as may be or are required to be
assigned to the Trustee in accordance with the provisions of the Indenture; (4) motor
vehicles; (5) any stock of goods, wares and merchandise, equipment and
supplies acquired for the purpose of sale or lease in the usual course of
business or for the purpose of consumption in the operation, construction or
repair of any of the properties of the Company; and (6) the properties
described in Schedule B annexed to the 1947 Indenture;

 

8

 

To
have and to hold all said property, real, personal and mixed, mortgaged,
pledged or conveyed by the Company as aforesaid, or intended so to be, to the
Trustee and its successors and assigns forever, subject, however, to Permitted
Encumbrances  and to the further reservations,
covenants, conditions, uses and trusts set forth in the Indenture; in trust
nevertheless for the same purposes and upon the same conditions as are set
forth in the Indenture.

 

ARTICLE
II

FORM AND EXECUTION OF SERIES DUE SEPTEMBER
1, 2038

 

SECTION 2.01.  There is hereby created, for issuance under
the Indenture, a series of bonds designated Series due September 1,
2038, each of which shall bear the descriptive title “First Mortgage Bond, Series due
September 1, 2038” and the form thereof shall contain suitable provisions
with respect to the matters specified in this Section 2.01.  The bonds of said series shall be
substantially of the tenor and purport hereinbefore recited.  The bonds of said series shall initially be
authenticated and delivered in the aggregate principal amount of
$200,000,000.  The bonds of said series
may be reopened and additional bonds of said series may be issued in excess of
the amount initially authenticated and delivered, provided that such additional
bonds of said series will contain the same terms (including the maturity date
and interest rate) as the other bonds of said series. Any such additional bonds
of said series, together with the bonds of said series initially authenticated,
shall constitute a single series for purposes of the Indenture and shall be
limited to an aggregate principal amount of $250,000,000.  The bonds of said series shall mature on September 1,
2038, and shall be issued as registered bonds without coupons in denominations
of a multiple of $1,000.  The bonds of
said series shall bear interest at the rate of 6.375% per annum payable
semi-annually on March 1 and September 1 of each year, and the
principal shall be payable at the office of the Trustee in St. Paul, Minnesota,
in lawful money of the United States of America, and the interest shall be
payable in like money to the person entitled to such interest at said office of
the Trustee in St. Paul, Minnesota, provided that at the option of the Company
payment of interest may be made by wire transfer to the person entitled thereto
if such person has provided proper wire transfer instructions or by check
mailed to the address of such person as such address shall appear in the Bond
Register maintained by the Trustee.  Interest
on bonds of the Series due September 1, 2038 shall be calculated on
the basis of a 360-day year consisting of twelve 30-day months.  If any interest payment date or date on which
the principal of bonds of the Series due September 1, 2038 is
required to be paid is not a business day, then payment of principal, premium
or interest need not be made on such date but may be made on the next
succeeding business day with the same force and effect as if made on such
interest payment date or date on which the principal of bonds of the Series due
September 1, 2038 is required to be paid and, in the case of timely
payment thereof, no interest shall accrue for the period from and after such
interest payment date or the date on which the principal of bonds of the Series due
September 1, 2038 is required to be paid. 
The bonds of the Series due September 1, 2038 shall be dated
as of the date of authentication thereof by the Trustee.

 

As long as there is no existing default in the
payment of interest on the bonds of the Series due September 1, 2038,
the person in whose name any bond of the Series due September 1, 2038
is registered at the close of business on any Regular Record Date with respect
to any interest payment date shall be entitled to receive the interest payable
on such interest payment date notwithstanding any transfer or exchange of such
bond of the Series due September 1, 2038 

 

9

 

subsequent to the Regular
Record Date and on or prior to such interest payment date.  Defaulted Interest shall be paid by the
Company as provided in Section 2.03 of the Indenture.

 

The term “Regular Record Date” as used herein with
respect to any interest payment date (March 1 or September 1) shall
mean the February 15 prior to such March 1 or August 15 prior to
such September 1 (whether or not a business day).  The term “business day” as used in this Section 2.01
shall mean any day other than a Saturday or Sunday or a day on which the
offices of the Trustee in the City of St. Paul, Minnesota are closed pursuant
to authorization of law.

 

SECTION 2.02.  The bonds of the Series due September 1,
2038 shall be redeemable at the option of the Company as a whole or in part on
any date upon not less than 30 days’ previous notice to be given in the manner
and with the effect provided in Section 10.02 of the Indenture at a
redemption price equal to the greater of (a) 100% of the principal amount
being redeemed or (b) the sum of the present values of the remaining
scheduled payments of principal and interest on the bonds of the Series due
September 1, 2038 that are being redeemed (excluding the portion of any
such interest accrued to the date fixed for redemption), discounted to the date
fixed for redemption on a semi-annual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Yield plus 35 basis points, plus
accrued and unpaid interest to the date fixed for redemption.

 

“Treasury Yield” means, for any date fixed for
redemption, (1) the yield, under the heading which represents the average
for the immediately preceding week, appearing in the most recently published
statistical release designated “H.15(519)” or any successor publication which
is published weekly by the Board of Governors of the Federal Reserve System and
which establishes yields on actively traded U.S. Treasury securities adjusted
to constant maturity under the caption “Treasury Constant Maturities,” for the
maturity corresponding to the Comparable Treasury Issue (if no maturity is
within three months before or after the remaining term, yields for the two
published maturities most closely corresponding to the Comparable Treasury
Issue will be determined and the Treasury Yield will be interpolated or
extrapolated from such yields on a straight line basis, rounding to the nearest
month); or (2) if such release (or any successor release) is not published
during the week preceding the calculation date or does not contain such yields,
the rate per annum equal to the semiannual equivalent yield to maturity of the
Comparable Treasury Issue, calculated using a price for the Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such date fixed for redemption. The Treasury
Yield will be calculated on the third business day preceding the date fixed for
redemption.

 

“Comparable Treasury Issue” means the U.S. Treasury
security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the first mortgage bonds being redeemed
that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the first mortgage
bonds being redeemed.

 

“Comparable Treasury Price” means (1) the
average of the Reference Treasury Dealer Quotations for the date fixed for
redemption, after excluding the highest and lowest Reference Treasury Dealer
Quotations for the date fixed for redemption, or (2) if the Trustee
obtains fewer 

 

10

 

than four Reference Treasury
Dealer Quotations, the average of all of the Reference Treasury Dealer
Quotations.

 

“Independent Investment Banker” means Banc of
America Securities LLC or BNY Mellon Capital Markets, LLC or their respective
successors or, if such firms or successors are unwilling or unable to select
the Comparable Treasury Issue, an independent investment banking institution of
national standing appointed by the Trustee after consultation with us.

 

“Reference Treasury Dealer” means (1) each of
Banc of America Securities LLC and BNY Mellon Capital Markets, LLC and any
other primary U.S. Government securities dealer in the United States (a “Primary
Treasury Dealer”) designated by, and not affiliated with, Banc of America
Securities LLC or BNY Mellon Capital Markets, LLC or their respective
successors, provided, however, that if Banc of America Securities LLC or BNY
Mellon Capital Markets, LLC or any of their respective designees ceases to be a
Primary Treasury Dealer, we will appoint another Primary Treasury Dealer as a
substitute and (2) any other Primary Treasury Dealer selected by us after
consultation with an Independent Investment Banker.

 

“Reference Treasury Dealer Quotations” means, for
each Reference Treasury Dealer and any date fixed for redemption, the average,
as determined by the Independent Investment Banker, of the bid and asked prices
for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Independent Investment Banker by the
Reference Treasury Dealer at 5:00 p.m., New York City Time, on the third
business day preceding the date fixed for redemption.

 

The bonds of the Series due September 1,
2038 are not subject to a sinking fund.

 

The redemption prices of the bonds of the Series due
September 1, 2038 need not be specified in any temporary bond of said
series if an appropriate reference be made in said temporary bond to the
provision of this Section 2.02.

 

SECTION 2.03.  The registered owner of any bond or bonds of
the Series due September 1, 2038 at his option may surrender the same
at the office of the Trustee in St. Paul, Minnesota, or elsewhere if authorized
by the Company, for cancellation, in exchange for other bonds of the said
series of the same aggregate principal amount, bearing interest as provided in Section 2.01
hereof thereupon, and upon receipt of any payment required under the provisions
of Section 2.04 hereof, the Company shall execute and deliver to the
Trustee and the Trustee shall authenticate and deliver such other registered
bonds to such registered holder at its office or at any other place specified
as aforesaid.

 

SECTION 2.04.  No charge shall be made by the Company for
any exchange or transfer of bonds of the Series due September 1, 2038
other than for taxes or other governmental charges, if any, that may be imposed
in relation thereto.

 

SECTION 2.05. (a) Except
as provided in subsections (c) and (g) of this Section 2.05, the
registered holder of all of the bonds of the Series due September 1,
2038 shall be The Depository Trust Company (“DTC”) and such bonds of the Series due
September 1, 2038 shall be registered in the name of Cede & Co.,
as nominee for DTC.  Payment of principal
of, premium, if any, and interest on any bonds of the Series due September 1,
2038 registered in the name of Cede & Co. 

 

11

 

shall be made by transfer of
New York Federal or equivalent immediately available funds with respect to the
bonds of the Series due September 1, 2038 to the account of Cede &
Co. on each such payment date for the bonds of the Series due September 1,
2038 at the address indicated for Cede & Co. in the Bond Register kept
by the Trustee.

 

(b)           The bonds of the Series due September 1, 2038
shall be initially issued in the form of one or more separate single
authenticated fully registered certificates in the aggregate principal amount
of the bonds of the Series due September 1, 2038.  Upon initial issuance, the ownership of such
bonds of the Series due September 1, 2038 shall be registered in the
Bond Register kept by the Trustee in the name of Cede & Co., as
nominee of DTC.  The Trustee and the
Company may treat DTC (or its nominee) as the sole and exclusive registered
holder of the bonds of the Series due September 1, 2038 registered in
its name for the purposes of payment of the principal of, premium, if any, and
interest on the bonds of the Series due September 1, 2038 and of
giving any notice permitted or required to be given to registered holders under
the Indenture, except as provided in Subsection 2.05(g) below; and neither
the Trustee nor the Company shall be affected by any notice to the
contrary.  Neither the Trustee nor the
Company shall have any responsibility or obligation to any of DTC’s
participants (each a “Participant”), any person claiming a beneficial ownership
in the bonds of the Series due September 1, 2038 under or through DTC
or any Participant (each a “Beneficial Owner”), or any other person that is not
shown on the Bond Register maintained by the Trustee as being a registered
holder, with respect to (1) the accuracy of any records maintained by DTC
or any Participant; (2) the payment of DTC or any Participant of any amount
in respect of the principal of, premium, if any, or interest on the bonds of
the Series due September 1, 2038; (3) the delivery by DTC or any
Participant of any notice to any Beneficial Owner which is permitted or
required to be given to registered holders under the Indenture of the bonds of
the Series due September 1, 2038; (4) the selection of the
Beneficial Owners to receive payment in the event of any partial redemption of
the bonds of the Series due September 1, 2038; or (5) any
consent given or other action taken by DTC as bondholder.  The Trustee shall pay all principal of,
premium, if any, and interest on the bonds of the Series due September 1,
2038 registered in the name of Cede & Co. only to or “upon the order
of” (as that term is used in the Uniform Commercial Code as adopted in
Wisconsin and New York) DTC, and all such payments shall be valid and effective
to fully satisfy and discharge the Company’s obligations with respect to the
principal of, premium, if any, and interest on such bonds of the Series due
September 1, 2038 to the extent of the sum or sums so paid. Except as
otherwise provided in Subsections 2.05(c) and (g) below, no person
other than DTC shall receive authenticated bond certificates evidencing the
obligation of the Company to make payments of principal of, premium, if any,
and interest on the bonds of the Series due September 1, 2038.  Upon delivery by DTC to the Trustee of
written notice to the effect that DTC has determined to substitute a new
nominee in place of Cede & Co., and subject to the provisions of the
Indenture with respect to transfers of bonds, the word “Cede & Co.” in
this Supplemental Trust Indenture shall refer to such new nominee of DTC.

 

(c)           If the Company in its discretion determines that it is in
the best interest of the Beneficial Owners that they be able to obtain bond
certificates for the bonds of the Series due September 1, 2038 or
there shall have occurred and be continuing a Completed Default with respect to
the bonds of the Series due September 1, 2038, the Company may notify
DTC and the Trustee, whereupon DTC will notify the Participants of the
availability through DTC of bond certificates. 
In such event, the Trustee shall issue, transfer and exchange bond certificates
as 

 

12

 

requested by DTC in
appropriate amounts pursuant to Article II of the Indenture and Section 2.03
of this Supplemental Trust Indenture. 
The Company shall pay all costs in connection with the production of
bond certificates if the Company makes such a determination under this
Subsection 2.05(c).  DTC may determine to
discontinue providing its services with respect to the bonds of the Series due
September 1, 2038 at any time by giving written notice to the Company and
the Trustee and discharging its responsibilities with respect thereto under
applicable law.  Under such circumstances
(if there is no successor book-entry depository), the Company and the Trustee
shall be obligated (at the sole cost and expense of the Company) to deliver
bond certificates as described in this Supplemental Trust Indenture.  If bond certificates are issued, the
provisions of the Indenture shall apply to, among other things, the transfer
and exchange of such certificates and the method of payment of principal of,
premium, if any, and interest on such certificates.  Whenever DTC requests the Company and the
Trustee to do so, the Company will direct the Trustee (at the sole cost and
expense of the Company) to cooperate with DTC in taking appropriate action after
reasonable notice (1) to make available one or more separate certificates
evidencing the bonds of the Series due September 1, 2038 to any
Participant or (2) to arrange for another book-entry depository to
maintain custody of certificates evidencing the bonds of the Series due September 1,
2038 registered in the name of such depository or its nominee.  Any successor book-entry depository must be a
clearing agency registered with the Securities and Exchange Commission pursuant
to Section 17A of the Securities Exchange Act of 1934, as amended, and
must enter into an agreement with the Company and the Trustee agreeing to act
as the depository and clearing agency for the bonds of the Series due September 1,
2038 (except as provided in Subsection 2.05(g) below).  After such agreement has become effective,
DTC shall present the bonds of the Series due September 1, 2038 for
registration of transfer in accordance with Section 2.11 of the Indenture,
and the Trustee shall register them in the name of the successor book-entry
depository or its nominee and all references thereafter to DTC shall be to such
successor book-entry depository.  If a
successor book-entry depository has not accepted such position before the
effective date of DTC’s termination of its services, the book-entry system
shall automatically terminate and may not be reinstated without the consent of
all registered holders of the bonds of the Series due September 1,
2038.

 

(d)           Notwithstanding any other provision of this Supplemental
Trust Indenture to the contrary, so long as any bonds of the Series due September 1,
2038 are registered in the name of Cede & Co., as nominee of DTC, all
payments with respect to the principal of, premium, if any, and interest on
such bonds of the Series due September 1, 2038 and all notices with
respect to such bonds of the Series due September 1, 2038 shall be
made and given, respectively, to DTC as provided in the blanket representation
letter among DTC, the Company and the Trustee. 
The Trustee is hereby authorized and directed to comply with all terms
of the representation letter.

 

(e)           In connection with any notice or other communication to be
provided pursuant to the Indenture for the bonds of the Series due September 1,
2038 by the Company or the Trustee with respect to any consent or other action
to be taken by the registered holders of the bonds of the Series due September 1,
2038, the Company or the Trustee, as the case may be, shall seek to establish a
record date to the extent permitted by the Indenture for such consent or other
action and give DTC notice of such record date not less than fifteen (15)
calendar days in advance of such record date to the extent possible.  Such notice to DTC shall be given only when
DTC is the sole registered holder.

 

13

 

(f)            NEITHER THE COMPANY NOR THE TRUSTEE WILL HAVE ANY
RESPONSIBILITY OR OBLIGATIONS TO THE PARTICIPANTS OR THE BENEFICIAL OWNERS WITH
RESPECT TO (1) THE ACCURACY OF ANY RECORDS MAINTAINED BY DTC OR ANY
PARTICIPANT; (2) THE PAYMENT BY DTC OR ANY PARTICIPANT OF ANY AMOUNT DUE
TO ANY BENEFICIAL OWNER IN RESPECT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR
INTEREST ON THE BONDS OF THE SERIES DUE SEPTEMBER 1, 2038; (3) THE
DELIVERY BY DTC OR ANY PARTICIPANT OF ANY NOTICE TO ANY BENEFICIAL OWNER WHICH
IS REQUIRED OR PERMITTED UNDER THE TERMS OF THE INDENTURE TO BE GIVEN TO
REGISTERED HOLDERS; (4) THE SELECTION OF THE BENEFICIAL OWNERS TO RECEIVE
PAYMENT IN THE EVENT OF ANY PARTIAL REDEMPTION OF THE BONDS OF THE SERIES DUE
SEPTEMBER 1, 2038; OR (5) ANY CONSENT GIVEN OR OTHER ACTION TAKEN BY DTC
AS A REGISTERED HOLDER.

 

SO LONG AS CEDE & CO. IS THE REGISTERED
HOLDER OF THE BONDS OF THE SERIES DUE SEPTEMBER 1, 2038 AS NOMINEE OF DTC,
REFERENCES HEREIN TO REGISTERED HOLDERS OF THE BONDS OF THE SERIES DUE
SEPTEMBER 1, 2038 SHALL MEAN CEDE & CO.  AND SHALL NOT MEAN THE BENEFICIAL OWNERS OF
THE BONDS OF THE SERIES DUE SEPTEMBER 1, 2038 NOR THE PARTICIPANTS.

 

(g)           The Company, in its sole discretion, may terminate the
services of DTC with respect to the bonds of the Series due September 1,
2038 if the Company determines that: (i) DTC (x) is unable to
discharge its responsibilities with respect to the bonds of the Series due
September 1, 2038 or (y) at any time ceases to be a clearing agency
registered under the Securities Exchange Act of 1934, as amended; or (ii) there
shall have occurred and be continuing a Completed Default with respect to the
bonds of the Series due September 1, 2038.  The Company, in its sole discretion, may
terminate the services of DTC with respect to the bonds of the Series due September 1,
2038 if the Company determines that a continuation of the requirement that
all of the outstanding bonds of Series due September 1, 2038 be
registered with the registration books kept by the Trustee in the name of Cede &
Co., as nominee of DTC, is not in the best interest of the Beneficial Owners of
the bonds of the Series due September 1, 2038.  After such event and if no substitute
book-entry depository is appointed by the Company, bond certificates will be
delivered as described in the Indenture.

 

(h)           Upon the termination of the services of DTC with respect
to the bonds of the Series due September 1, 2038 pursuant to
subsections (c) or (g) of this Section 2.05 after which no
substitute book-entry depository is appointed, the bonds of the Series due
September 1, 2038 shall be registered in whatever name or names registered
holders transferring or exchanging the bonds of the Series due September 1,
2038 shall designate in accordance with the provisions of the Indenture.

 

ARTICLE III

APPOINTMENT OF AUTHENTICATING AGENT

 

SECTION 3.01.  The Trustee shall, if requested in writing to do so by
the Company, promptly appoint an agent or agents of the Trustee who shall have
authority to authenticate registered bonds of the Series due September 1,
2038 in the name and on
behalf of the Trustee.  

 

14

 

Such appointment by the Trustee shall be evidenced by a
certificate of a vice-president of the Trustee delivered to the Company prior
to the effectiveness of such appointment.

 

SECTION 3.02.  (a) Any such authenticating agent shall be
acceptable to the Company and at all times shall be a corporation which is
organized and doing business under the laws of the United States or of any
State, is authorized under such laws to act as authenticating agent, has a
combined capital and surplus of at least $10,000,000 and is subject to
supervision or examination by federal or state authority.  If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this Section 3.02,
the combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of
condition so published.

 

(b)           Any
corporation into which any authenticating agent may lawfully be merged or
converted or with which it may be consolidated, or any corporation resulting from
any merger, conversion or consolidation to which any authenticating agent shall
be a party, or any corporation succeeding to the corporate agency business of
any authenticating agent, shall continue to be the authenticating agent without
the execution or filing of any paper or any further act on the part of the
Trustee or the authenticating agent.

 

(c)           Any
authenticating agent at any time may resign by giving written notice of
resignation to the Trustee and to the Company. 
The Trustee may at any time, and upon written request of the Company to
the Trustee shall, terminate the agency of any authenticating agent by giving
written notice of termination to such authenticating agent and to the
Company.  Upon receiving such a notice of
resignation or upon such a termination, or in case at any time any
authenticating agent shall cease to be eligible in accordance with the
provisions of this Section 3.02, the Trustee, unless otherwise requested
in writing by the Company, promptly shall appoint a successor authenticating
agent, which shall be acceptable to the Company.  Any successor authenticating agent upon
acceptance of its appointment hereunder shall become vested with all the
rights, powers, duties and responsibilities of its predecessor hereunder, with
like effect as if originally named.  No
successor authenticating agent shall be appointed unless eligible under the
provisions of this Section 3.02.

 

(d)           The
Trustee agrees to pay to any authenticating agent, appointed in accordance with
the provisions of this Section 3.02, reasonable compensation for its
services, and the Trustee shall be entitled to be reimbursed for such payments.

 

SECTION 3.03.  If an appointment is made pursuant to this Article III,
the registered bonds of the Series due September 1, 2038 shall have endorsed thereon, in addition to the
Trustee’s Certificate, an alternate Trustee’s Certificate in the following
form:

 

This
bond is one of the bonds of the Series designated thereon, described in
the within-mentioned Indenture.

 

15

 

	
   

  	
  U.S. BANK NATIONAL ASSOCIATION, as

  Trustee

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authenticating Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized Officer

  

 

SECTION 3.04.  No provision of this Article III shall
require the Trustee to have at any time more than one such authenticating agent
for any one State or to appoint any such authenticating agent in the State in
which the Trustee has its principal place of business.

 

ARTICLE IV

FINANCING STATEMENT TO COMPLY WITH

THE UNIFORM COMMERCIAL CODE

 

SECTION 4.01.  The name and address of the debtor and
secured party are set forth below:

 

	
  Debtor:

  	
   

  	
  Northern States Power Company

  1414 West Hamilton Avenue

  Eau Claire, Wisconsin 54701

  
	
   

  	
   

  	
   

  
	
  Secured Party:

  	
   

  	
  U.S. BANK NATIONAL ASSOCIATION

  Corporate Trust Services

  60 Livingston Avenue

  St. Paul, Minnesota 55107

  

 

NOTE: 
Northern States Power Company, the debtor above named, is “a
transmitting utility” under the Uniform Commercial Code as adopted in Wisconsin
and Michigan.

 

SECTION 4.02.  Reference to Article I hereof is made
for a description of the property of the debtor covered by this Financing
Statement with the same force and effect as if incorporated in this Section 4.02
at length.

 

SECTION 4.03.  The maturity dates and respective principal
amounts of obligations of the debtor secured and presently to be secured by the
Indenture, reference to all of which for the terms and conditions thereof is
hereby made with the same force and effect as if incorporated herein at length,
are as follows:

 

16

 

	
  First Mortgage Bonds

  	
   

  	
  Principal Amount

  	
   

  
	
  Series due
  December 1, 2026

  	
   

  	
  $

  	
  65,000,000

  	
   

  
	
  Series A
  and Series B due October 1, 2018

  	
   

  	
  $

  	
  150,000,000

  	
   

  
	
  Series due
  September 1, 2038

  	
   

  	
  $

  	
  200,000,000

  	
   

  

 

SECTION 4.04.  This Financing Statement is hereby adopted
for all of the First Mortgage Bonds of the Series mentioned above secured
by said Indenture.

 

SECTION 4.05.  The 1947 Indenture, the Restated Indenture
and the Supplemental Trust Indentures, as set forth below, have been filed or
recorded in each and every office in the States of Wisconsin and Michigan
designated by law for the filing or recording thereof in respect of all
property of the Company subject thereto:

 

	
  Original Indenture

  Dated April 1, 1947

  	
   

  	
  Supplemental Trust Indenture

  Dated March 1, 1949

  
	
   

  	
   

  	
   

  
	
  Supplemental Trust Indenture

  Dated June 1, 1957

  	
   

  	
  Supplemental Trust Indenture

  Dated August 1, 1964

  
	
   

  	
   

  	
   

  
	
  Supplemental Trust Indenture

  Dated December 1, 1969

  	
   

  	
  Supplemental Trust Indenture

  Dated September 1, 1973

  
	
   

  	
   

  	
   

  
	
  Supplemental Trust Indenture

  Dated February 1, 1982

  	
   

  	
  Supplemental Trust Indenture

  Dated March 1, 1982

  
	
   

  	
   

  	
   

  
	
  Supplemental Trust Indenture

  Dated June 1, 1986

  	
   

  	
  Supplemental Trust Indenture

  Dated March 1, 1988

  
	
   

  	
   

  	
   

  
	
  Supplemental and Restated Trust Indenture

  Dated March 1, 1991

  	
   

  	
  Supplemental Trust Indenture

  Dated April 1, 1991

  
	
   

  	
   

  	
   

  
	
  Supplemental Trust Indenture

  Dated March 1, 1993

  	
   

  	
  Supplemental Trust Indenture

  Dated October 1, 1993

  
	
   

  	
   

  	
   

  
	
  Supplemental Trust Indenture

  Dated December 1, 1996

  	
   

  	
  Supplemental Trust Indenture

  Dated September 1, 2003

  

 

SECTION 4.06.  The property covered by this Financing
Statement also shall secure additional series of First Mortgage Bonds of the
debtor that may be issued from time to time in the future in accordance with
the provisions of the Indenture.

 

ARTICLE V

MISCELLANEOUS

 

SECTION 5.01.  The recitals of fact herein, except the
recital that the Trustee has duly determined to execute this Supplemental Trust
Indenture and be bound, insofar as it may 

 

17

 

lawfully so
do, by the provisions hereof and in the bonds shall be taken as statements of
the Company and shall not be construed as made by the Trustee.  The Trustee makes no representations as to
the value of any of the property subjected to the Lien of the Indenture, or any
part thereof, or as to the title of the Company thereto, or as to the security
afforded thereby and hereby, or as to the validity of this Supplemental Trust
Indenture or of the bonds issued under the Indenture by virtue hereof (except
the Trustee’s certificate), and the Trustee shall incur no responsibility in
respect of such matters.

 

SECTION 5.02.  This Supplemental Trust Indenture shall be
construed in connection with and as a part of the Indenture.

 

SECTION 5.03.  (a) If any provision of this
Supplemental Trust Indenture limits, qualifies or conflicts with another
provision of the Indenture required to be included in indentures qualified
under the Trust Indenture Act of 1939, as amended (as enacted prior to the date
of this Supplemental Trust Indenture) by any of the provisions of Sections 310
to 317, inclusive, of the said Act, such required provisions shall control.

 

(b)           In case any one or more of the
provisions contained in this Supplemental Trust Indenture or in the bonds
issued hereunder shall be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein and therein shall not in any way be affected, impaired, prejudiced or
disturbed thereby.

 

SECTION 5.04.  Wherever in this Supplemental Trust Indenture
the word “Indenture” is used without the prefix “1947,” “Original,” “Restated”
or “Supplemental,” such word was used intentionally to include in its meaning
the 1947 Indenture, as amended and restated by the Restated Indenture, and all
indentures supplemental thereto.

 

SECTION 5.05.  Wherever in this Supplemental Trust Indenture
either of the parties hereto is named or referred to, this shall be deemed to
include the successors or assigns of such party, and all the covenants and
agreements in this Supplemental Trust Indenture contained by or on behalf of
the Company or by or on behalf of the Trustee shall bind and inure to the
benefit of the respective successors and assigns of such parties, whether so
expressed or not.

 

SECTION 5.06.  (a) This Supplemental Trust Indenture
may be executed simultaneously in several counterparts, and all said
counterparts executed and delivered, each as an original, shall constitute but
one and the same instrument.

 

(b)           The Table of Contents and the
descriptive headings of the several Articles of this Supplemental Trust
Indenture were formulated, used and inserted in this Supplemental Trust
Indenture for convenience only and shall not be deemed to affect the meaning or
construction of any of the provisions hereof.

 

The amount of obligations to be issued forthwith under the Indenture
shall not exceed $250,000,000.

 

 

18

 

IN WITNESS WHEREOF, NORTHERN STATES POWER
COMPANY, a Wisconsin corporation, party of the first part, has caused its
corporate name and seal to be hereunto affixed, and this Supplemental Trust
Indenture to be signed by its President or a Vice President, and attested by an
authorized officer, for and in its behalf, and U.S. BANK NATIONAL ASSOCIATION,
a national banking association duly organized and existing under and by virtue
of the laws of the United States of America, as Trustee, party of the second
part, to evidence its acceptance of the trust hereby created, has caused its
corporate name and seal to be hereunto affixed, and this Supplemental Trust
Indenture to be signed by its President or a Vice President, and attested by an
authorized officer, for and in its behalf, all done this 3rd day of
September, 2008.

 

	
   

  	
   

  	
  NORTHERN STATES POWER
  COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ George E. Tyson II

  
	
   

  	
   

  	
  By: George E. Tyson II

  
	
   

  	
   

  	
  Its: Vice President and
  Treasurer

  
	
   

  	
   

  	
   

  
	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Patrice D. Blaeser

  	
   

  	
   

  
	
  By:  Patrice D. Blaeser

  	
   

  	
   

  
	
  Its:  Assistant Corporate Secretary

  	
   

  	
   

  
	
  Executed by NORTHERN
  STATES POWER

  COMPANY in the presence of:

  	
   

  	
  (CORPORATE
  SEAL)

  
	
   

  	
   

  	
   

  
	
  /s/ Jessica Schmidt

  	
   

  	
   

  
	
  Witness

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Nicholas Casavan

  	
   

  	
   

  
	
  Witness

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  U.S. BANK NATIONAL ASSOCIATION, as

  Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Raymond S. Haverstock 

  
	
   

  	
   

  	
  By: Raymond S. Haverstock

  
	
   

  	
   

  	
  Its:  Vice President

  
	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Tom Maple 

  	
   

  	
   

  
	
  By: Tom Maple 

  	
   

  	
   

  
	
  Its: Vice President

  	
   

  	
   

  
	
  Executed by U.S. BANK NATIONAL

  	
   

  	
  (CORPORATE SEAL)

  
	
  ASSOCIATION, in the presence of:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Georgette Kleinbaum

  	
   

  	
   

  
	
  Witness

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Judith Foley

  	
   

  	
   

  
	
  Witness

  	
   

  	
   

  

 

 

	
  STATE OF MINNESOTA

  	
  )

  	
   

  
	
   

  	
  )

  	
  SS.:

  
	
  COUNTY OF HENNEPIN

  	
  )

  	
   

  

 

On this the day of September 3rd,
2008, before me, Sharon M. Quellhorst, a Notary Public, the undersigned
officer, personally appeared George E. Tyson II and Patrice D. Blaeser, who
acknowledged themselves to be the Vice President and Treasurer and the
Assistant Corporate Secretary, respectively, of Northern States Power Company,
a Wisconsin corporation, and that they, as such Vice President and Treasurer
and Assistant Corporate Secretary, respectively, being authorized to do so,
executed the foregoing instrument for the purposes therein contained, by
signing the name of the corporation by themselves as George E. Tyson II and
Patrice D. Blaeser, respectively.

 

IN WITNESS WHEREOF, I hereunto set my hand and official seal.

 

 

	
  /s/ Sharon M. Quellhorst

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Notary Public In and For County of Hennepin

  	
   

  	
   

  
	
  State of Minnesota

  	
   

  	
   

  
	
  My commission expires: 1/31/2010

  	
   

  	
   

  
	
   

  	
   

  	
  (NOTARY SEAL)

  

 

 

	
  STATE OF MINNESOTA

  	
  )

  	
   

  
	
   

  	
  )

  	
  SS.:

  
	
  COUNTY OF RAMSEY

  	
  )

  	
   

  

 

On this the day of September 2, 2008,
before me, Holly B. Eret, notary public, the undersigned officer, personally
appeared Raymond S. Haverstock and Tom Maple, who acknowledged themselves to be
the Vice President and the Vice President, respectively, of U.S. Bank National
Association, a national banking association, and that they, as such Vice
President and Vice President, respectively, being authorized to do so, executed
the foregoing instrument for the purposes therein contained, by signing the
name of the corporation by themselves as Raymond S. Haverstock and Tom Maple,
respectively.

 

IN WITNESS WHEREOF, I hereunto set my hand and official seal.

 

 

	
  /s/ Holly B. Eret

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Notary Public In and For County of Ramsey

  	
   

  	
   

  
	
  State of Minnesota

  	
   

  	
   

  
	
  My commission expires: 
  1/31/2010

  	
   

  	
   

  
	
   

  	
   

  	
  (NOTARY SEAL)

  

 

 

SCHEDULE A

 

The
property referred to in the granting clause in the foregoing Supplemental Trust
Indenture from Northern States Power Company to U.S. Bank National Association,
as Trustee, dated September 1, 2008, includes parts or parcels of real
property and other property hereinafter more specifically described.  Such description, however, is not intended to
limit or impair the scope or intention of the general description contained in
the granting clauses or elsewhere herein or in the Indenture.

 

I.                                         PROPERTIES IN THE STATE OF
WISCONSIN

 

The following described property
situated, lying and being in the County of Price, State of Wisconsin, to-wit:

 

Kennan Microwave Site

 

A parcel of land located in the Northwest Quarter
(NW1/4) of the Southwest Quarter (SW1/4), Section Twenty-five (25),
Township Thirty-six (36) North, Range Two (2) West, Price County,
Wisconsin, and bounded by the following described line using bearings based on
the West line of the Southwest Quarter (SW1/4), Section Twenty-five (25),
which is assumed to bear North 01 Degrees 15 Minutes 25 Seconds East:

 

Commencing at the Southwest corner of said Section 25;
thence North 01 Degrees 15 Minutes 25 Seconds East on the section line,
1,341.00 feet to the Southwest corner of the Northwest Quarter of the Southwest
Quarter; thence South 89 Degrees 33 Minutes 00 Seconds East on the South line
of the Northwest Quarter of the Southwest Quarter, 313.00 feet to the point of
beginning; thence North 01 Degrees 15 Minutes 25 Seconds East parallel with the
section line, 315.00 feet; thence North 89 Degrees 33 Minutes 00 Seconds West
parallel with the South line of the Northwest Quarter of the Southwest Quarter,
313.00 feet to the section line; thence North 01 Degrees 15 Minutes 25 Seconds
East on the Section line, 160.72 feet; thence South 89 Degrees 33 Minutes
00 Seconds East parallel with the South line of the Northwest Quarter of the
Southwest Quarter, 463.38 feet; thence South 01 Degrees 15 Minutes 25 Seconds
West parallel with the section line, 475.72 feet to the South line of the
Northwest Quarter of the Southwest Quarter; thence North 89 Degrees 33 Minutes
00 Seconds West on said South line, 150.38 feet to the point of beginning,
being a part of Lot 1, Certified Survey Map Number 912, recorded in Volume 5 of
Maps, Page 26, Document Number 294641.

 

II.                                     ELECTRIC DISTRIBUTION SYSTEMS OF
THE COMPANY

IN THE STATE OF WISCONSIN

 

The electric distribution systems of the Company,
including substations, transformers, switchboards, towers, poles, wires,
insulators, subways, trenches, manholes, cables and other appliances and
equipment and all other property, real or personal, forming a part of,
appertaining to, or used, occupied or enjoyed in connection with such
distribution systems, or any of them, and all rights of way, easements,
permits, privileges, franchises and statutory rights in, or relating to, the
construction, maintenance or operation thereof, through, over, under, or upon
any private property or any public streets or highways within as well as
without the  corporate limits of any
municipal corporation, such systems being more particularly described as
follows:

 

A-1

 

Ashland County:

 

A
distribution system in and about the communities of Ashland, Butternut, Mellen.

 

Barron County:

 

A distribution system
in and about the communities of Campia, Almena, Mikana, Reeve, Turtle Lake,
Dallas.

 

Buffalo County:

 

A
distribution system in and about the communities of Fountain City, Marshland.

 

Chippewa County:

 

A
distribution system in and about the communities of Chippewa Falls, Stanley.

 

Clark County:

 

A
distribution system in and about the communities of Thorp, Neillsville, Colby.

 

Dunn County:

 

A distribution system
in and about the communities of Menomonie, Eau Galle, Downsville, Elk Mound.

 

Eau Claire County:

 

A distribution system
in and about the communities of Eau Claire, Augusta, Foster, Fairchild.

 

Iron County:

 

A
distribution system in and about the communities of Powell, Mercer, Saxon.

 

Jackson County:

 

A
distribution system in and about the communities of North Bend, Northfield,
Hatfield.

 

La Crosse County:

 

A distribution system
in and about the communities of Mindoro, Onalaska, La Crosse, Newburg Corners,
St. Joseph.

 

Marathon County:

 

A
distribution system in and about the communities of Abbotsford, Athens.

 

A-2

 

Monroe County:

 

A
distribution system in and about the communities of Sparta, Cataract, Leon.

 

Pepin County:

 

A
distribution system in and about the community of Pepin.

 

Pierce County:

 

A
distribution system in and about the community of Ellsworth.

 

Polk County:

 

A distribution system
in and about the communities of Luck, Clear Lake, McKinley, Little Falls, St.
Croix Falls, Wanderoos, Amery.

 

Price County:

 

A
distribution system in and about the communities of Ogema, Park Falls,
Phillips.

 

Rusk County:

 

A
distribution system in and about the communities of Dewey, Ladysmith, Bruce.

 

St. Croix County:

 

A distribution system
in and about the communities of Pleasant Valley, Hudson.

 

Taylor County:

 

A
distribution system in and about the community of Jump River.

 

Trempealeau County:

 

A
distribution system in and about the communities of Strum, Pigeon Falls, Blair.
Osseo.

 

Vernon County:

 

A
distribution system in and about the community of Coon Valley.

 

III.                                 TRANSMISSION LINES OF THE COMPANY

IN THE STATE OF WISCONSIN

 

The electric transmission lines of the Company,
including towers, poles, pole lines, wire, switch racks, switchboards,
insulators, and other appliances and equipment, and all other property forming
a part thereof or appertaining thereto, and all service lines extending
therefrom; together with all rights for or relating to the construction,
maintenance of operation thereof, through, over, under, or upon any private
property or public streets or highways within as well as without the

 

A-3

 

corporate limits of any municipal corporation, well as
without the  corporate limits of any
municipal corporation, such systems being more particularly described as
follows:

 

	
  Line 3484

  	
   

  	
  Eau Claire County, WI.

  	
   

  	
  Sec. 15, 22, Twp 27 N., Rge. 9 W.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Line 3485

  	
   

  	
  Eau Claire County, WI.

  	
   

  	
  Sec. 27, Twp. 27 N., Rge. 9 W.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Line 3207

  	
   

  	
  La Crosse County, WI.

  	
   

  	
  Sec. 15, Twp. 16 N., Rge 7 W.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Line 3432  

  	
   

  	
  La Crosse County, WI.

  	
   

  	
  Part of Lots 6, 7, 8, 9 & 10, Block 3; Lot
  8, Part of Lots 9 & 10, Block 4; all in Town of La Crosse
  Addition. Part of vacated Mt. Vernon Street from the Westerly
  right-of-way Line of Front Street to the Mississippi River, La Crosse, WI. Part of
  the North 40 feet of Lot 1, Block 1, Dunn, Dousman and Cameron’s Addition.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Line 3473

  	
   

  	
  Sawyer County, WI. 

  	
  Sec. 1, Twp. 38 N., Rge. 9 W.

  	
   

  
							

 

IV.                                GAS DISTRIBUTION SYSTEMS OF THE
COMPANY

IN THE STATE OF WISCONSIN

 

St. Croix County:

 

A
gas distribution system in and about the community of Hudson, Wisconsin

 

La Crosse County:

 

A
gas distribution system in and about the community of La Crosse, Wisconsin

 

Ashland County:

 

A
gas distribution system in and about the community of Butternut, Wisconsin

 

A-4

 

MORTGAGOR’S RECEIPT FOR COPY

 

The undersigned, Northern
States Power Company, a Wisconsin corporation, the Mortgagor described in the
foregoing instrument, hereby acknowledges that it has this day received from
U.S. Bank National Association the Mortgage described therein, a full, true,
complete, and correct copy of said instrument with signatures, witnesses and
acknowledgments thereon shown.  Dated
this 3rd day of September, 2008.

 

	
   

  	
   

  	
  NORTHERN
  STATES POWER COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/
  George E. Tyson II

  
	
   

  	
   

  	
  By:
  George E. Tyson II

  
	
   

  	
   

  	
  Its:
  Vice President and Treasurer

  
	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/
  Patrice D. Blaeser

  	
   

  	
   

  
	
  By:
  Patrice D. Blaeser

  	
   

  	
   

  
	
  Its:
  Assistant Corporate Secretary

  	
   

  	
   

  
	
   

  	
   

  	
  (CORPORATE SEAL)

  

 

This instrument was drafted
by Northern States Power Company, 1414 W. Hamilton Avenue, Eau Claire,
Wisconsin 54701Exhibit 10.5

 

Amended and Restated Certificate of Incorporation,

dated July 29, 2008

 

AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

OF

THE CHILDREN’S PLACE RETAIL STORES, INC.

 

(Pursuant to Sections 242 and 245 of the

General Corporation Law of the State of Delaware)

 

THE CHILDREN’S PLACE RETAIL STORES, INC. (the “Corporation”), a corporation organized and
existing under and by virtue of the provisions of the General Corporation Law
of the State of Delaware (the “General Corporation Law”),  DOES HEREBY CERTIFY:

 

1.             That the name of the Corporation is
THE CHILDREN’S PLACE RETAIL STORES, INC.; the Corporation was originally incorporated under
the name “The Children’s Place Retail Stores II, Inc.” pursuant to the
General Corporation Law and the Corporation’s original certificate of
incorporation was filed with the Secretary of State of the State of Delaware on
June 3, 1988.  The Corporation’s
certificate of incorporation was subsequently amended by a certificate of
merger on July 29, 1988, and pursuant to such amendment, the Corporation
was renamed “The Children’s Place Retail Stores, Inc.”  The Corporation’s certificate of
incorporation was subsequently amended and restated on each of June 28,
1996, December 31, 1996 and September 18, 1997.

 

2.             That the Board of Directors duly
adopted resolutions proposing to amend and restate the Corporation’s
certificate of incorporation, declaring said amendment and restatement to be
advisable and in the best interests of the Corporation and its stockholders,
and authorizing the appropriate officers of the Corporation to solicit the
consent of the stockholders therefor.

 

3.             That this Amended and Restated
Certificate of Incorporation, which restates and integrates and further amends
the provisions of the Corporation’s certificate of incorporation, was duly
adopted by the board of directors and stockholders of the Corporation in
accordance with Sections 242 and 245 of the General Corporation Law.

 

5.             That the Corporation’s certificate
of incorporation be amended and restated in its entirety to read as follows:

 

ARTICLE ONE

 

The name of the
corporation is THE CHILDREN’S PLACE RETAIL STORES, INC. (the “Corporation”).

 

1

 

ARTICLE TWO

 

The address of the
Corporation’s registered office in the State of Delaware is 2711 Centerville
Road, Suite 400, in the City of Wilmington, County of New Castle.  The name of its registered agent at such
address is Corporation Service Company.

 

ARTICLE
THREE

 

The nature of the
business and of the purposes to be conducted and promoted by the Corporation
are to conduct any lawful business, to promote any lawful purpose and to engage
in any lawful act or activity for which a corporation may be organized under
the General Corporation Law of the State of Delaware.

 

ARTICLE FOUR

 

The Corporation
shall have authority, to be exercised by the Board of Directors, to issue (i) 100,000,000
shares of common stock of the par value of $0.10 per share (the “Common Stock”)
and (ii) 1,000,000 shares of preferred stock of the par value of $1.00 per
share (the “Preferred Stock”).  The
Preferred Stock may be issued (A) in one or more series and with such
designations, powers, preferences, rights, and such qualifications, limitations
or restrictions thereof, as the Board of Directors shall fix by resolution or
resolutions which are permitted by Section 151 of the General Corporation
Law of the State of Delaware for any such series of Preferred Stock, and (B) in
such number of shares in each such series as the Board of Directors shall, by
resolution, fix, provided that the aggregate number of all shares of Preferred
Stock issued shall not exceed the number of shares of Preferred Stock
authorized hereby.

 

Each holder of
Common Stock shall at every meeting of stockholders of the Corporation be
entitled to one vote in person or by proxy on each matter submitted to a vote
of stockholders for each share of Common Stock held by such holder as of the
record date for such meeting.  Subject to
the rights, if any, of the holders of the Preferred Stock, the holders of the
Common Stock shall be entitled to the entire voting power, all dividends
declared and paid by the Corporation and all assets of the Corporation
available for distribution to stockholders in the event of any liquidation, dissolution
or winding up of the Corporation.

 

ARTICLE FIVE

 

The number of
directors which shall constitute the whole Board of Directors of the
Corporation shall be not less than three nor more than 12 and the exact number
shall be fixed from time to time by the Board of Directors pursuant to a
resolution adopted by a majority of the directors then in office; provided,
however, that such maximum number of directors may be increased from time to
time to reflect the rights, if any, of holders of Preferred Stock to elect
directors in accordance with the terms of the resolution or resolutions adopted
by the Board of Directors providing for the issue of such shares of Preferred
Stock. The number of directors may be increased or decreased only by action of
the Board of Directors. The directors, other than those who 

 

2

 

may be elected by the
holders of any series of Preferred Stock, will be classified with respect to
the time for which they severally hold office into three classes, as nearly
equal in number as possible, designated Class I, Class II and Class III.
The directors first appointed to Class I will hold office for a term
expiring at the annual meeting of stockholders of the Corporation to be held in
1998; the directors first appointed to Class II will hold office for a
term expiring at the annual meeting of stockholders of the Corporation to be
held in 1999; and the directors first appointed to Class III will hold
office for a term expiring at the annual meeting of stockholders of the
Corporation to be held in 2000, with the members of each class to hold office
until their successors are elected and qualified.  At each succeeding annual meeting of the
stockholders of the Corporation, the successors of the class of directors whose
terms expire at that meeting will be elected to hold office for a term expiring
at the annual meeting of stockholders held in the third year following the year
of their election and until their successors are elected and qualified.  Election of directors of the Corporation need
not be by written ballot unless requested by the Chairman of the Board of
Directors or by the holders of a majority of the voting power of the
outstanding shares of stock entitled to vote in the election of directors and
present in person or represented by proxy at a meeting of the stockholders at
which directors are to be elected.

 

                Subject to the rights, if any, of the holders of the
Preferred Stock with respect to the election of directors, directors shall be
elected by a majority of votes cast by the shares present at a meeting of
stockholders and entitled to vote on the election of directors at such meeting,
a quorum being present at such meeting, unless the election is contested, in
which case directors shall be elected by a plurality of votes cast by the
shares present at such meeting. A “majority of votes cast” means that the
number of votes cast “for” the election of the nominee exceeds 50% of the total
number of votes cast “for” or “against” the election of that nominee. A “contested
election” shall mean an election at which the number of nominees for election
as director is greater than the number of directors to be elected. For purposes
hereof, the number of nominees shall be determined as of the last date on which
a stockholder in accordance with the Bylaws of the Corporation may nominate a
person for election as a director in order for such nomination to be required
to be presented for a vote of the stockholders. Cumulative voting shall not
apply in the election of directors and no stockholder will be permitted to
accumulate votes in respect of the election of any director.

 

ARTICLE SIX

 

                Subject to the rights, if any, of the holders of any
Preferred Stock, the power to fill vacancies on the Board of Directors (whether
by reason of resignation, removal, death, an increase in the number of
directors or otherwise) shall be vested solely in the Board of Directors, and
vacancies may be filled by the affirmative vote of a majority of the directors
then in office, even if less than a quorum, or by the sole remaining director,
unless all directorships are vacant, in which case the stockholders shall fill
the then existing vacancies.  Any
director chosen by the Board of Directors to fill a vacancy (including a
vacancy resulting from an increase in the number of directors) shall hold
office for the remainder of the full term of the class of directors in which
the vacancy occurred (or in which the new directorship was created) and until
that director’s successor shall be elected and shall have qualified.  No decrease in the number of directors
constituting the Board of Directors may shorten the term of any incumbent
director.

 

3

 

ARTICLE SEVEN

 

Special meetings of the stockholders of the Corporation for any purpose
or purposes may be called at any time by the Chairman of the Board of Directors
or by the Secretary of the Corporation within ten calendar days after receipt
of a written request from a majority of the total number of directors which the
Corporation would have if there were no vacancies.  Such special meetings may not be called by
any other person or persons.

 

ARTICLE EIGHT

 

Any action required by the General Corporation Law of the State of
Delaware to be taken at an annual or special meeting of stockholders of the
Corporation, and any action which otherwise may be taken at any annual or
special meeting of stockholders of the Corporation, shall be taken only at a
duly called meeting of the stockholders of the Corporation and, notwithstanding
Section 228 of the General Corporation Law of the State of Delaware, no
such action shall be taken by written consent or consents without a meeting of
the stockholders of the Corporation.

 

ARTICLE NINE

 

Except as otherwise provided by law, at any annual or special meeting
of the stockholders of the Corporation, only such business shall be conducted
or considered as shall have been properly brought before the meeting.  Except as otherwise provided herein, in order
to have been properly brought before the meeting, such business must have been
either (A) specified in the written notice of the meeting, or any
supplement thereto, given to the stockholders of record on the record date for
such meeting by or at the direction of the Board of Directors; (B) brought
before the meeting at the direction of the Chairman of the Board, the President
or the Board of Directors; or (C) specified in a written notice given by
or on behalf of a stockholder of record on the record date for such meeting entitled
to vote thereat or a duly authorized proxy for such stockholder, in accordance
with all requirements set forth in this Article Nine.  A notice referred to in clause (C) of
the preceding sentence must be delivered personally to, or mailed to and received
at, the principal executive office of the Corporation, addressed to the
attention of the Secretary, not less than 45 days nor more than 60 days prior
to the meeting; provided, however, that in the event that less than 55 days’
notice or prior public disclosure of the date of the meeting was given or made
to stockholders, notice by the stockholder to be timely must be so received not
later than the close of business on the tenth day following the day on which
such notice of the date of the meeting was mailed or such public disclosure was
made, whichever first occurred.  Such
notice referred to in clause (C) of the second sentence of this Article Nine
shall set forth: (i) a full description of each such item of business
proposed to be brought before the meeting and the reasons for conducting such
business at such meeting; (ii) the name and address of the person
proposing to bring such business before the meeting; (iii) the class and
number of shares held of record, held beneficially and represented by proxy by
such person as of the record date for the meeting (if such date has then been
made publicly available) and as of the date of such notice; (iv) if any
item of such business involves a nomination for director, all information
regarding each such nominee that would be required to be set forth in a
definitive proxy statement filed with the Securities and Exchange Commission
(the “Commission”) pursuant to Section 14 of the Securities Exchange Act
of 1934, as amended, or any successor 

 

4

 

thereto (the “Exchange
Act”), and the written consent of each such nominee to serve if elected; (v) any
material interest of the stockholder in such item of business; and (vi) all
other information that would be required to be filed with the Commission if,
with respect to the business proposed to be brought before the meeting, the
person proposing such business was a participant in a solicitation subject to Section 14
of the Exchange Act.  No business shall
be brought before any meeting of stockholders of the Corporation otherwise than
as provided in this Article Nine. 
The Board of Directors may require a proposed nominee for director to
furnish such other information as may be required to be set forth in a
stockholder’s notice of nomination which pertains to the nominee or which may
be reasonably required to determine the eligibility of such proposed nominee to
serve as a director of the Corporation. 
The chairman of the meeting may, if the facts warrant, determine that a
nomination or stockholder proposal was not made in accordance with the
foregoing procedure, and if the chairman should so determine, the chairman
shall so declare to the meeting and the defective nomination or proposal shall
be disregarded.

 

ARTICLE
TEN

 

The Bylaws of the Corporation, as amended and restated on the date
hereof, are hereby adopted by the Board of Directors.  In furtherance and not in limitation of the
powers conferred by statute, the Board of Directors is expressly authorized to
make, repeal, alter, amend and rescind the Bylaws of the Corporation, by the
affirmative vote of a majority of the total number of directors which the
Corporation would have if there were no vacancies.

 

Notwithstanding anything contained in this Certificate of Incorporation
to the contrary, Sections 6(b), 6(j) and 6(l) of Article I of
the Bylaws, Sections 2(b), 2(c) and 2(d) of Article II of the
Bylaws and Article VI of the Bylaws may not be amended or repealed by the
stockholders, and no provision inconsistent therewith may be adopted by the
stockholders, without the affirmative vote of the holders of at least 75% of
the voting power of the outstanding shares of stock entitled to vote in the
election of directors, voting as a single class.

 

ARTICLE ELEVEN

 

To the fullest extent that the General Corporation Law of the State of
Delaware, as it exists on the date hereof or as it may hereafter be amended,
permits the limitation or elimination of the liability of directors, no
director of the Corporation shall be personally liable to the Corporation or
its stockholders for monetary damages for breach of fiduciary duty as a
director.  Notwithstanding the foregoing,
a director shall be liable to the extent provided by applicable law (1) for
any breach of the director’s duty of loyalty to the Corporation or its
stockholders, (2) for acts or omissions not in good faith or which involve
intentional misconduct or a knowing violation of law, (3) under Section 174
of the General Corporation Law of the State of Delaware or any successor provision
thereto, or (4) for any transaction from which the director derived any
improper personal benefit.  The
provisions of this Article Eleven are not intended to, and shall not,
limit, supersede or modify any other defense available to a director under applicable
law.  Neither the amendment or repeal of
this Article Eleven, nor the adoption of any provision of this Certificate
of Incorporation inconsistent with this Article Eleven, shall adversely
affect any right or protection of a director of the Corporation existing at the
time of such amendment, repeal or adoption.

 

5

 

ARTICLE TWELVE

 

The Corporation shall, to the fullest extent permitted by Section 145
of the General Corporation Law of the State of Delaware, as the same may be
amended and supplemented, or by any successor provision thereto (“Section 145”),
indemnify any and all persons whom it shall have power to indemnify under Section 145
from and against any and all of the expenses, liabilities or other matters
referred to in or covered by Section 145. 
The Corporation shall advance expenses to the fullest extent permitted
by Section 145.  Such right to
indemnification and advancement of expenses shall continue as to a person who
has ceased to be a director, officer, employee or agent and shall inure to the
benefit of the heirs, executors and administrators of such person.  The indemnification and advancement of
expenses provided for herein shall not be deemed exclusive of any other rights
which any person may have or hereafter acquire under any statute, Bylaw,
agreement, vote of stockholders or disinterested directors or otherwise.  Without limiting the generality or the effect
of the foregoing, the Corporation may enter into one or more agreements with any
person which provide for indemnification greater than or different from that
provided in this Article Twelve or Section 145.  Neither the amendment or repeal of this Article Twelve,
nor the adoption of any provision of this Certificate of Incorporation
inconsistent with this Article Twelve, shall adversely affect any right or
protection of any person existing at the time of such amendment, repeal or
adoption.

 

The Corporation shall have power to purchase and maintain insurance on
behalf of any person who is or was a director, officer, employee or agent of
the Corporation, or is or was serving at the request of the Corporation as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise against any liability asserted against him
and incurred by him in any such capacity, or arising out of his status as such,
whether or not the Corporation would have the power to indemnify him against
such liability under the provisions hereof or under Section 145 of the
General Corporation Law or any other applicable law.

 

ARTICLE THIRTEEN

 

Subject to the rights, if any, of the holders of any Preferred Stock to
elect additional directors or to remove directors so elected, a duly elected
director of the Corporation may be removed from such position by the
stockholders only for cause and only in the manner specified in this Article Thirteen.  Any such removal may be effected only by the
affirmative vote of the holders of a majority of the voting power of the
outstanding shares of stock entitled to vote in the election of directors,
voting as a single class.  Except as may
be provided by applicable law, cause for removal will be deemed to exist only
if the director whose removal is proposed has been convicted of a felony or
adjudicated by a court of competent jurisdiction to be liable to the
Corporation or its stockholders for misconduct as a result of (a) a breach
of such director’s duty of loyalty to the Corporation, (b) any act or
omission by such director not in good faith or which involves a knowing
violation of law or (c) any transaction from which such director derived
an improper personal benefit, and such conviction or adjudication is no longer
subject to direct appeal.

 

6

 

ARTICLE FOURTEEN

 

Whenever a compromise or arrangement is proposed between this
Corporation and its creditors or any class of them and/or between this
Corporation and its stockholders or any class of them, any court of equitable
jurisdiction within the State of Delaware may, on the application in a summary
way of this Corporation or any creditor or stockholder thereof or on the
application of any receiver or receivers appointed for this Corporation under
the provisions of Section 291 of Title 8 of the Delaware Code or on the
application of trustees in dissolution or of any receiver or receivers
appointed for this Corporation under the provisions of Section 279 of
Title 8 of the Delaware Code order a meeting of the creditors or class of
creditors, and/or of the stockholders or class of stockholders, of this
Corporation, as the case may be, to be summoned in such manner as the said
court directs.  If a majority in number
representing three-fourths in value of the creditors or class of creditors,
and/or of the stockholders or class of stockholders, of this Corporation, as
the case may be, agree to any compromise or arrangement and to any
reorganization of this Corporation as a consequence of such compromise or
arrangement, the said compromise or arrangement and the said reorganization
shall, if sanctioned by the court to which the said application has been made,
be binding on all the creditors or class of creditors, and/or on all the
stockholders or class of stockholders, of this Corporation, as the case may be,
and also on this Corporation.

 

ARTICLE FIFTEEN

 

Any amendment, alteration, change or repeal of any provision contained
in the second paragraph of Article Five or in Article Six, Seven,
Eight, Nine, Ten or Thirteen or this Article Fifteen of this Certificate
of Incorporation, or the adoption of any provision inconsistent therewith, may
be effected only by the affirmative vote of the holders of 75% of the voting
power of the outstanding shares of stock entitled to vote in the election of
directors, voting as a single class, and all rights conferred on stockholders
herein are granted subject to any provision of the General Corporation Laws of
the State of Delaware, as amended.

 

This Amended and Restated Certificate of Incorporation was duly adopted
in accordance with the provisions of Section 242 and Section 245 of
the General Corporation Law of the State of Delaware.

 

 

IN WITNESS WHEREOF, this Amended and Restated Certificate of
Incorporation has been executed by a duly authorized officer of this corporation
on this 29th day of July 2008.

 

	
   

  	
  THE CHILDREN’S PLACE RETAIL
  STORES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Susan J. Riley

  
	
   

  	
  Name: Susan J. Riley

  
	
   

  	
  Title: Executive Vice
  President, Finance & Administration

  

 

7

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