Document:

Form of PPL Corporation Remarketing Agreement

 EXHIBIT 4.9 
 PPL CORPORATION 
 PPL CAPITAL FUNDING, INC. 
 PPL Capital Funding, Inc.         % [Deferrable] Notes Due
                     
 Guaranteed
as to payment of principal, 
 premium, if any, and interest by 
 PPL Corporation 
 REMARKETING AGREEMENT 
 [Date] 
 [Remarketing Agent] 
  
  
  

 
 Ladies and Gentlemen: 
                      (the “Remarketing
Agent”) is undertaking to remarket the         % [Deferrable] Notes due                      (the
“Securities”), issued by PPL Capital Funding, Inc., a Delaware corporation (“Capital Funding”), and unconditionally guaranteed as to payment of principal, premium, if any, and interest by PPL Corporation, a Pennsylvania
corporation (the “Company”), pursuant to the Indenture, dated as of                     , among Capital Funding, the Company and
                    , as trustee (the “Indenture Trustee”) as amended and supplemented by the First Supplemental Indenture to the
Indenture, dated                     , relating to the Notes (as amended or supplemented, the “Indenture”). 
 The Remarketing (as defined below) of the Securities is provided for in an Officer’s Certificate relating to and establishing certain terms of the
Notes (the “Officer’s Certificate”), the Pledge Agreement and the Purchase Contract Agreement (as defined below).] 
 Section 1.
Definitions. 
 (a) Capitalized terms used and not defined in this Agreement shall have the meanings set forth in the Purchase
Contract Agreement, dated as of                      (the “Purchase Contract Agreement”), between the Company and The Bank of New York
Mellon, a New York banking corporation, as Purchase Contract Agent and Trustee (the “Purchase Contract Agent”), or in the Officer’s Certificate, as the case may be. 
 (b) As used in this Agreement, the following terms have the following meanings: 

 “Remarketed Securities” means the Securities subject to the Remarketing, as identified to the
Remarketing Agent by the Purchase Contract Agent after 11:00 a.m. on the fifth Business Day immediately preceding the Purchase Contract Settlement Date; 
 “Remarketing” means the remarketing of the Remarketed Securities pursuant to the Remarketing Procedures; and 
 “Remarketing Procedures” means the procedures in connection with the Remarketing of the Securities described in the Officer’s Certificate; 
 “Subsidiary” has the meaning set forth in Rule 405 under the Securities Act. 
 Section 2. Appointment and Obligations of the Remarketing Agent. 
 (a) The Company and
Capital Funding hereby appoint                      as exclusive remarketing agent (the “Remarketing Agent”), and
                     hereby (1) accepts appointment as Remarketing Agent, for the purpose of (A) Remarketing Remarketed Securities on
behalf of the holders thereof and (B) performing such other duties as are assigned to the Remarketing Agent in the Remarketing Procedures, all in accordance with and pursuant to the Remarketing Procedures, and (2) accepts and will perform
all obligations of the Remarketing Agreement set forth in the Officers’ Certificate, the Pledge Agreement and the Purchase Contract Agreement. 
 (b) The Remarketing Agent agrees to (1) use reasonable efforts to remarket the Remarketed Securities tendered or deemed tendered to the Remarketing Agent in the Remarketing, (2) notify the Company promptly of the Reset Rate and
(3) carry out such other duties as are assigned to the Remarketing Agent in the Remarketing Procedures, all in accordance with the provisions of the Remarketing Procedures. 
 (c) On the third Business Day immediately preceding the Purchase Contract Settlement Date (the “Remarketing Date”), the Remarketing Agent shall
use reasonable efforts to remarket, at a price at least equal to [100.25%] of the Stated Amount, the Remarketed Securities tendered or deemed tendered for purchase. 
 (d) If, as a result of the efforts described in Section 2(b), the Remarketing Agent determines that it will be able to remarket all Remarketed Securities tendered or deemed tendered for purchase at a price at
least equal to [100.25%] of the Stated Amount prior to 4:00 p.m. (New York City time) on the Remarketing Date, the Remarketing Agent shall set the Reset Rate at a rate per annum (rounded to the nearest one-thousandth of one percent per annum) that
the Remarketing Agent determines to be the lowest rate per annum that will enable it to remarket all of the Remarketed Securities tendered or deemed tendered for purchase at a price equal to [100.25%] of the Stated Amount. 
  

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 (e) upon receipt of the proceeds from the Remarketing, the Remarketing Agent shall: 
 (1) retain [25 basis points (.25%)] of the Stated Amount for the performance of its services as Remarketing Agent hereunder; and 
 (2) remit to the Collateral Agent all excess proceeds of the Remarketed Securities subject to the Pledge Agreement. 
 (f) If none of the holders of Remarketed Notes elects to have Remarketed Securities remarketed in the Remarketing, the Remarketing Agent shall determine
the rate that would have been established had a Remarketing been held on the Remarketing Date, and such rate shall be the Reset Rate. 
 (g)
If, by 4:00 p.m. (New York City time) on the Remarketing Date, the Remarketing Agent is unable to remarket all Remarketed Securities tendered or deemed tendered for purchase, a failed Remarketing (“Failed Remarketing”) shall be deemed to
have occurred, and the Remarketing Agent shall so advise by telephone DTC, the Indenture Trustee and the Company. In the event of a Failed Remarketing, the Reset Rate shall equal the Two-Year Benchmark Treasury rate plus the Applicable Margin.

 (h) Provided that there has not been a Failed Remarketing, by approximately 4:30 p.m. (New York City time) on the Remarketing Date, the
Remarketing Agent shall advise, by telephone: 
 (1) DTC, the Indenture Trustee and the Company of the Reset Rate determined in the
Remarketing and the number of Remarketed Securities sold in the Remarketing; 
 (2) each purchaser (or the Depositary Participant thereof) of
Remarketed Securities of the Reset Rate and the number of Remarketed Securities such purchaser is to purchase; and 
 (3) each purchaser to
give instructions to the Depositary Participant to pay the purchase price on the Purchase Contract Settlement Date in same day funds against delivery of the Remarketed Securities purchased through the facilities of DTC. 
 Section 3. Representations and Warranties of the Company and Capital Funding. 
 The Company represents and warrants (i) on and as of the date hereof, (ii) on and as of the date the Prospectus Supplement or other Remarketing
Materials (each as defined in Section 3(a) below) are first distributed in connection with the Remarketing (the “Commencement Date”), (iii) on and as of the Remarketing Date, and (iv) on and as of the Purchase Contract
Settlement Date that: 
 (a) The conditions for use of Form S-3, as set forth in the General Instructions thereto, have been satisfied.

  

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 (b) A registration statement on Form S-3 (File No.
            ) and an amendment or amendments thereto with respect to the initial offering of the Notes has (i) been prepared by the Company in conformity with the requirements of the
Securities Act of 1933, as amended (the “Securities Act”), and the rules and regulations (the “Rules and Regulations”) of the Securities and Exchange Commission (the “Commission”) thereunder; (ii) been filed with
the Commission under the Securities Act, and (iii) become effective under the Securities Act; a registration statement on Form S-3, if required to be filed in connection with the Remarketing also may be prepared by the Company in conformity
with the requirements of the Securities Act and the Rules and Regulations and filed with the Commission under the Securities Act; and the Indenture has been qualified under the Trust Indenture Act of 1939, as amended (the “Trust Indenture
Act”). Copies of such registration statement or registration statements that have become effective and the amendment or amendments to such registration statements have been delivered by the Company to you. 
 As used in this Agreement, “Effective Time” means the date and time as of which the last of such registration statements that have become
effective or may be filed, or the most recent post-effective amendment thereto, if any, was declared effective by the Commission; 
 “Effective Date” means the date of the Effective Time of such last registration statement; 
 “Preliminary
Prospectus” means each prospectus included in such last registration statement, or amendment thereto, before it became effective under the Securities Act and any prospectus filed by the Company with your consent pursuant to Rule 424(a) of the
Rules and Regulations; 
 “Registration Statement” means such last registration statement, as amended at its Effective Time,
including documents incorporated by reference therein at such time and, if applicable, all information contained in the final prospectus filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations, including any information deemed
to be part of such Registration Statement as of the Effective Time pursuant to paragraph (b) of Rule 430A of the Rules and Regulations; and 
 “Prospectus” means such final prospectus, as first filed pursuant to Rule 424(b) of the Rules and Regulations. 
 Reference made herein to any Preliminary Prospectus, the Prospectus or any other information furnished by the Company to the Remarketing Agent for distribution to investors in connection with the Remarketing (the “Remarketing
Materials”) shall be deemed to refer to and include any documents incorporated by reference therein pursuant to Item 12 of Form S-3 under the Securities Act as of the date of such Preliminary Prospectus or the Prospectus, as the case may
be, or, in the case of Remarketing Materials, referred to as incorporated by reference therein, and any reference to any amendment or supplement to any Preliminary Prospectus, the Prospectus or the Remarketing Materials shall be deemed to refer to
and include any document filed under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), after the date of such Preliminary Prospectus or the Prospectus incorporated by reference therein pursuant to Item 12 of Form
S-3 or, if so incorporated, the Remarketing Materials, as the case may be; and any reference to any amendment to the Registration Statement shall be deemed to include any 

  

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annual report of the Company filed with the Commission pursuant to Section 13(a) or 15(d) of the Exchange Act after the Effective Time that is
incorporated by reference in the Registration Statement. 
 (c) The Commission has not issued an order preventing or suspending the use of
the Registration Statement, any Preliminary Prospectus, the Prospectus or the Remarketing Materials. 
 (d) The Registration Statement, as of
the Effective Date, conformed (and the Prospectus and any further amendments or supplements to the Registration Statement or the Prospectus, when they become effective or are filed with the Commission, as the case may be, will conform) in all
respects to the requirements of the Securities Act and the Rules and Regulations, and the Registration Statement, the Prospectus and the Remarketing Materials do not and will not, as of the Effective Date (as to the Registration Statement and any
amendment thereto), as of the applicable filing date (as to the Prospectus and any amendment or supplement thereto) and as of the Commencement Date, Remarketing Date and Purchase Contract Settlement Date (as to any Remarketing Materials) contain any
untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; provided that no representation and warranty is made as to the statement of eligibility
and qualification on Form T-1 of the Indenture Trustee under the Trust Indenture Act, or as to information contained in or omitted from the Registration Statement, the Prospectus or the Remarketing Materials in reliance upon and in conformity with
written information furnished to the Company by the Remarketing Agent specifically for inclusion therein. The Indenture conforms in all material respects to the requirements of the Trust Indenture Act and the applicable rules and regulations
thereunder. 
 (e) The documents incorporated by reference in the Prospectus, when they became effective or were filed with the Commission,
as the case may be, conformed in all material respects to the requirements of the Securities Act or the Exchange Act, as applicable, and the rules and regulations of the Commission thereunder, and none of such documents contained any untrue
statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and any further documents so filed and incorporated by reference in the Prospectus, when such
documents become effective or are filed with Commission, as the case may be, will conform in all material respects to the requirements of the Securities Act or the Exchange Act, as applicable, and the rules and regulations of the Commission
thereunder and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 
 (f) Subsequent to the date of the latest consolidated financial statements included or incorporated by reference in the Prospectus or in any Remarketing
Materials, there has not been any material adverse change in the financial position or results of operations of the Company and its subsidiaries taken as a whole, except in each case as set forth in or contemplated by the Prospectus or any
Remarketing Materials. 
  

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 (g) The certificate delivered pursuant to paragraph (e) of Section 6 hereof in connection with
the issuance and sale of the Remarketed Notes was on the dates on which it was delivered, or will be on the dates on which it is to be delivered, in all material respects true and complete. 
 [Capital Funding Representations, as Applicable] 
 Section 4. Fees. 
 For the performance of its services as Remarketing Agent hereunder, the Remarketing Agent
shall retain from the proceeds of the Remarketing an amount equal to [25 basis points (.25%)] of the [$25] Stated Amount of the Remarketed Securities. 
 Section 5. Covenants of the Company and Capital Funding. 
 Each of the Company and Capital Funding covenant and
agree as follows: 
 (a) (1) To prepare any registration statement or prospectus, if required, in connection with the Remarketing, in a form
approved by the Remarketing Agent and to file any such prospectus pursuant to the Securities Act within the period required by the Rules and Regulations; 
 (2) to advise the Remarketing Agent, promptly after it receives notice thereof, of the time when any amendment to the Registration Statement has been filed or becomes effective or any supplement to the Prospectus or
any amended Prospectus has been filed and to furnish the Remarketing Agent with copies thereof; 
 (3) to file promptly all reports and any
definitive proxy or information statements required to be filed by it with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus
is required in connection with the offering or sale of the Remarketed Securities; 
 (4) to advise the Remarketing Agent, promptly after it
receives notice thereof, of the issuance by the Commission of any stop order or of any order preventing or suspending the use of the Prospectus, of the suspension of the qualification of any of the Remarketed Securities for offering or sale in any
jurisdiction, of the initiation or threatening of any proceeding for any such purpose, or of any request by the Commission for the amending or supplementing of the Registration Statement or the Prospectus or for additional information, and, in the
event of the issuance of any stop order or of any order preventing or suspending the use of any Prospectus or suspending any such qualification, to use promptly its best efforts to obtain its withdrawal. 
 (b) To furnish promptly to the Remarketing Agent and to counsel to the Remarketing Agent a signed copy (or true conformed copy) of the Registration
Statement as originally filed with the Commission, and each amendment thereto filed with the Commission, including all consents and exhibits filed therewith. 
  

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 (c) To furnish the Remarketing Agent in New York City such number of the following documents as the
Remarketing Agent shall request (i) conformed copies of the Registration Statement as originally filed with the Commission and each amendment thereto (in each case excluding exhibits other than this Agreement and the Indenture); (ii) the
Prospectus and any amended or supplemented Prospectus; (ii) any document incorporated by reference in the Prospectus (excluding exhibits thereto); and (iv) any Remarketing Materials; and, if the delivery of a prospectus is required at any
time in connection with the Remarketing and if at such time any event shall have occurred as a result of which the Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made when such Prospectus is delivered, not misleading, or if for any other reason it shall be necessary during such same period to amend or
supplement the Prospectus or to file under the Exchange Act any document incorporated by reference in the Prospectus in order to comply with the Securities Act or the Exchange Act, to notify the Remarketing Agent and, upon its request, to file such
document and to prepare and furnish without charge to the Remarketing Agent and to any dealer in securities as many copies as the Remarketing Agent may from time to time reasonably request of an amended or supplemented Prospectus which will correct
such statement or omission or effect such compliance; provided that the expense of preparing and filing any such amendment or supplement (i) which is necessary in connection with such a delivery of a prospectus more than nine months after the
Remarketing Date or (ii) which relates solely to the activities of the Remarketing Agent shall be borne by the Remarketing Agent. 
 (d)
To file promptly with the Commission any amendment to the Registration Statement or the Prospectus or any supplement to the Prospectus that is required by the Securities Act or requested by the Commission. 
 (e) Prior to filing with the Commission (i) any amendment to the Registration Statement or supplement to the Prospectus or any document incorporated
by reference in the Prospectus or (ii) any Prospectus pursuant to Rule 424 of the Rules and Regulations, to furnish a copy thereof to the Remarketing Agent and counsel to the Remarketing Agent; and not to file any such amendment or supplement
which shall be reasonably objected to in writing by the Remarketing Agent promptly after reasonable notice. 
 (f) As soon as practicable,
but in any event not later than 15 months, after the Effective Date of the Registration Statement, to make “generally available to its security holders” an “earnings statement” (which need not be audited) covering a period of at
least twelve months beginning after the Effective Date which will satisfy the provisions of Section 11(a) of the Securities Act and the Rules and Regulations (including, at the option of the Company, Rule 158). The terms “generally
available to its security holders” and “earnings statement” shall have the meanings set forth in Rule 158 of the Rules and Regulations. 
 (g) To take such action as the Remarketing Agent may reasonably request in order to qualify the Remarketed Securities for offer and sale under the securities or “blue sky” laws of such jurisdictions as the
Remarketing Agent may reasonably request; provided that the Company shall not be required to qualify as a foreign corporation in any State, to consent to service of process in any State other than with respect to claims arising out of the offering
or sale of the 

  

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Remarketed Securities, or to meet any other requirement in connection with this paragraph (g) deemed by the Company to be unduly burdensome. 

(h) To pay (1) the costs incident to the preparation and printing of the Registration Statement, Prospectus and any Remarketing Materials and any
amendments or supplements thereto; (2) the costs of distributing the Registration Statement, Prospectus and any Remarketing Materials and any amendments or supplements thereto; (3) the fees and expenses of qualifying the Remarketed
Securities under the securities laws of the several jurisdictions as provided in Section 5(g) and of preparing, printing and distributing a Blue Sky Memorandum (including related fees and expenses of counsel to the Remarketing Agent);
(4) all other costs and expenses incident to the performance of the obligations of the Company, hereunder; and (5) the reasonable fees and expenses of counsel to the Remarketing Agent in connection with their duties hereunder. 

Section 6. Conditions to the Remarketing Agent’s Obligations. 
 The obligations of the Remarketing Agent hereunder are subject to the following conditions: 
 (a) The
Prospectus shall have been timely filed with the Commission; no stop order suspending the effectiveness of the Registration Statement or any part thereof or suspending the qualification of the Indenture shall have been issued and no proceeding for
that purpose shall have been initiated or threatened by the Commission; and any request of the Commission for inclusion of additional information in the Registration Statement or the Prospectus or otherwise shall have been complied with. 

(b) Since the respective dates as of which information is given in the Registration Statement and the Prospectus, (i) there shall not have been
any material adverse change in the financial position or results of operations of the Company and its subsidiaries taken as a whole, that, in the judgment of the Remarketing Agent, materially impairs the investment quality of the Notes, in each case
other than as set forth in or contemplated by the Registration Statement or Prospectus. 
 (c) The representations and warranties of the
Company and Capital Funding contained herein shall be true and correct in all material respects on and as of the Remarketing Date, and the Company shall have performed in all material respects all covenants and agreements herein contained to be
performed on its part at or prior to the Remarketing Date. 
 (d) The Company shall have furnished to the Remarketing Agent a certificate,
dated the Remarketing Date, of [the President or a Vice President and a financial or accounting officer of the Company] stating that to the best of their knowledge after reasonable investigation: 
 (i) no order suspending the effectiveness of the Registration Statement or prohibiting the sale of the Remarketed Notes is in effect, and no proceedings
for such purpose are pending before or, to the knowledge of such officers, threatened by the Commission; 
 (ii) the representations and
warranties of the Company in Section 3 are true and correct in all material respects on and as of the Remarketing Date and the Company has 

  

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performed in all material respects all covenants and agreements contained herein to be performed on its part at or prior to the Remarketing Date; 

(iii) the Registration Statement, as of its Effective Date, and the Prospectus and the Remarketing Materials, as of their respective dates, did not
contain any untrue statement of a material fact and did not omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading. 
 (e) On the Remarketing Date, the Remarketing Agent shall have received a letter addressed to the Remarketing Agent and dated such date, in form and
substance satisfactory to the Remarketing Agent, of Ernst & Young LLP, or such other firm of nationally recognized independent public accountants satisfactory to the Remarketing Agent, containing statements and information of the type
ordinarily included in accountants’ “comfort letters” with respect to certain financial information contained in the Prospectus and in the Remarketing Materials. 
 (f) Counsel to the Company shall have furnished to the Remarketing Agent its opinion letter or opinion letters, as the case may be, addressed to the
Remarketing Agent and dated the Remarketing Date, in form and substance satisfactory to the Remarketing Agent as set forth as Exhibit A hereto. 
 [(g) On or after the execution and delivery of this Agreement, no downgrading shall have occurred in the rating accorded the Company’s debt securities by any “nationally recognized statistical rating organization”, as that
term is defined by the Commission for purposes of Rule 436(g)(2) under the Securities Act.] 
 Section 7. Indemnification and Contribution.

 (a) The Company and Capital Funding agree that they will jointly and severally indemnify and hold harmless the Remarketing Agent and
each person, if any, who controls the Remarketing Agent within the meaning of Section 15 of the Securities Act, against any and all loss, expense, claim, damage or liability to which, jointly or severally, the Remarketing Agent or such
controlling person may become subject, under the Securities Act or otherwise, insofar as such loss, expense, claim, damage or liability (or actions in respect thereof) arises out of or is based upon any untrue statement or alleged untrue statement
of any material fact contained in the Registration Statement, the Prospectus, the Remarketing Materials or any amendment or supplement to any thereof, or arises out of or is based upon the omission or alleged omission to state therein any material
fact required to be stated therein or necessary to make the statements therein not misleading; and, except as hereinafter in this Section provided, the Company and Capital Funding agree to reimburse the Remarketing Agent and each person who controls
the Remarketing Agent as aforesaid for any reasonable legal or other expenses incurred by the Remarketing Agent or such controlling person in connection with investigating or defending any such loss, expense, claim, damage or liability;
provided, however, that neither the Company nor Capital Funding shall be liable in any such case to the extent that any such loss, expense, claim, damage or liability arises out of or is based on an untrue statement or alleged untrue
statement or omission or alleged omission made in any such document in reliance upon, and in conformity with, written information furnished to Capital Funding or the Company by or through the Remarketing Agent expressly for use in any such document
or arises out of, or is based on, 

  

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statements in or omissions from that part of the Registration Statement which shall constitute the Statement of Eligibility under the Trust Indenture Act of
any trustee; and provided further, that with respect to any untrue statement or alleged untrue statement or omission or alleged omission made in any prospectus or supplement, the indemnity agreement contained in this subsection (a) shall
not inure to the benefit of the Remarketing Agent (or to the benefit of any person controlling the Remarketing Agent), if a copy of the Prospectus (not including documents incorporated by reference therein) was not sent or given to such person at or
prior to the written confirmation of the sale of the Remarketed Securities to such person. 
 (b) The Remarketing Agent agrees that it will
indemnify and hold harmless the Company and Capital Funding, their officers and directors, and each of them, and each person, if any, who controls the Company and Capital Funding within the meaning of Section 15 of the Securities Act, against
any loss, expense, claim, damage or liability to which it or they may become subject, under the Securities Act or otherwise, insofar as such loss, expense, claim, damage or liability (or actions in respect thereof) arises out of or is based on any
untrue statement or alleged untrue statement of any material fact contained in the Registration Statement, the Prospectus, the Remarketing Materials or any amendment or supplement to any thereof, or arises out of or is based upon the omission or
alleged omission to state therein any material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, and only to the extent, that such untrue statement or alleged untrue statement
or omission or alleged omission was made in any such document in reliance upon, and in conformity with, written information furnished to Capital Funding or the Company by or through the Remarketing Agent expressly for use in any such document; and,
except as hereinafter in this Section provided, the Remarketing Agent agrees to reimburse the Company and Capital Funding, their officers and directors, and each of them, and each person, if any, who controls the Company and Capital Funding within
the meaning of Section 15 of the Securities Act, for any reasonable legal or other expenses incurred by it or them in connection with investigating or defending any such loss, expense, claim, damage or liability. 
 (c) Upon receipt of notice of the commencement of any action against an indemnified party, the indemnified party shall, with reasonable promptness, if a
claim in respect thereof is to be made against an indemnifying party under its agreement contained in this Section 7, notify such indemnifying party in writing of the commencement thereof; but the omission so to notify an indemnifying party
shall not relieve it from any liability which it may have to the indemnified party otherwise than under its agreement contained in this Section 7. In the case of any such notice to an indemnifying party, it shall be entitled to participate at
its own expense in the defense, or if it so elects, to assume the defense, of any such action, but, if it elects to assume the defense, such defense shall be conducted by counsel chosen by it and satisfactory to the indemnified party and to any
other indemnifying party, defendant in the suit. In the event that any indemnifying party elects to assume the defense of any such action and retain such counsel, the indemnified party shall bear the fees and expenses of any additional counsel
retained by it. No indemnifying party shall be liable in the event of any settlement of any such action effected without its consent except as provided in Section 7(e) hereof. Each indemnified party agrees promptly to notify each indemnifying
party of the commencement of any litigation or proceedings against it in connection with the issue and sale of the Remarketed Securities. 
  

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 (d) If the Remarketing Agent or any person entitled to indemnification by the terms of subsection
(a) of this Section 7 shall have given notice to the Company and Capital Funding of a claim in respect thereof pursuant to Section 7(c) hereunder, and if such claim for indemnification is thereafter held by a court to be unavailable
for any reason other than by reason of the terms of this Section 7 or if such claim is unavailable under controlling precedent, the Remarketing Agent or such person shall be entitled to contribution from the Company and Capital Funding for
liabilities and expenses, except to the extent that contribution is not permitted under Section 11(f) of the Securities Act. In determining the amount of contribution to which the Remarketing Agent or such person is entitled, there shall be
considered the relative benefits received by the Remarketing Agent or such person and the Company and Capital Funding from the offering of the Remarketed Securities that were the subject of the claim for indemnification (taking into account the
portion of the proceeds realized by each), the Remarketing Agent or person’s relative knowledge and access to information concerning the matter with respect to which the claim was asserted, the opportunity to correct and prevent any statement
or omission, and any other equitable considerations appropriate under the circumstances. The Company and Capital Funding and the Remarketing Agent agree that it would not be equitable if the amount of such contribution were determined by pro rata or
per capita allocation. 
 (e) No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise
or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could
be sought under this Section 7 (whether or not the indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i) includes an unconditional release of each indemnified party and all
liability arising out of such litigation, investigation, proceeding or claim, and (ii) does not include a statement as to or an admission of fault, culpability or the failure to act by or on behalf of any indemnified party. 
 (f) The indemnity and contribution provided for in this Section 7 and the representations and warranties of the Company, Capital Funding and the
Remarketing Agent shall remain operative and in full force and effect regardless of (i) any investigation made by or on behalf of the Remarketing Agent or any person controlling the Remarketing Agent, the Company, its directors or officers,
Capital Funding or any person controlling Capital Funding, (ii) acceptance of any Remarketed Securities and payment therefor under this Agreement, and (iii) any termination of this Agreement. 
  

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 Section 8. Resignation and Removal of the Remarketing Agent. 
 The Remarketing Agent may resign and be discharged from its duties and obligations hereunder, and the Company may remove the Remarketing Agent, by giving
15 days’ prior written notice, in the case of a resignation, to the Company, DTC and the Indenture Trustee and, in the case of a removal, the removed Remarketing Agent, DTC and the Indenture Trustee; provided however, that no such resignation
nor any such removal shall become effective until the Company shall have appointed at least one nationally recognized broker-dealer as successor Remarketing Agent and such successor Remarketing Agent shall have entered into a remarketing agreement
with the Company, in which it shall have agreed to conduct the Remarketing in accordance with the Remarketing Procedures. 
 In any such
case, the Company will use its reasonable efforts to appoint a successor Remarketing Agent and enter into such a remarketing agreement with such person as soon as reasonably practicable. The provisions of Sections 4, 5(h) and 7 shall survive the
resignation or removal of any Remarketing Agent pursuant to this Agreement. 
 Section 9. Dealing in the Remarketed Securities.

 The Remarketing Agent, when acting as a Remarketing Agent or in its individual or any other capacity, may, to the extent permitted by
law, buy, sell, hold and deal in any of the Remarketed Securities. The Remarketing Agent may exercise any vote or join in any action which any beneficial owner of Remarketed Securities may be entitled to exercise or take pursuant to the Indenture
with like effect as if it did not act in any capacity hereunder. The Remarketing Agent, in its individual capacity, either as principal or agent, may also engage in or have an interest in any financial or other transaction with the Company as freely
as if it did not act in any capacity hereunder. 
 Section 10. Remarketing Agent’s Performance; Duty of Care. 
 The duties and obligations of the Remarketing Agent shall be determined solely by the express provisions of this Agreement and the Indenture. No implied
covenants or obligations of or against the Remarketing Agent shall be read into this Agreement or the Indenture. In the absence of bad faith on the part of the Remarketing Agent, the Remarketing Agent may conclusively rely upon any document
furnished to it, which purports to conform to the requirements of this Agreement or the Indenture as to the truth of the statements expressed in any of such documents. The Remarketing Agent shall be protected in acting upon any document or
communication reasonably believed by it to have been signed, presented or made by the proper party or parties. The Remarketing Agent, acting under this Agreement, shall incur no liability to the Company or to any holder of Remarketed Securities in
its individual capacity or as Remarketing Agent for any action or failure to act, on its part in connection with a Remarketing or otherwise, except if such liability is judicially determined to have resulted from the gross negligence or willful
misconduct on its part. 
  

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 Section 11. Termination. 
 This Agreement shall terminate as to the Remarketing Agent on the effective date of the resignation or removal of the Remarketing Agent pursuant to Section 8. In addition, this Agreement may be terminated
(A) by the Company by notifying the Remarketing Agent at any time before the time when the Remarketed Securities are first generally offered by the Remarketing Agent to dealers by letter or telegram, or (B) by the Remarketing Agent by
notifying the Company at or prior to 10:00 a.m. (New York City time) on the Remarketing Date by letter or telegram if, 
 (a) in the
judgement of the Remarketing Agent the sale and delivery of the Remarketed Securities is rendered impracticable or inadvisable because: 
 (1)
there has been any suspension or limitation of trading in securities generally on the New York Stock Exchange, or any setting of minimum or maximum prices for trading on such exchange, or any suspension or limitation of trading of any securities of
the Company or Capital Funding on any exchange or in the over-the-counter market; or a general banking moratorium has been declared by Federal or New York authorities; 
 (2) any event shall have occurred or shall exist which makes untrue or incorrect in any material respect any statement or information contained in the Registration Statement or Prospectus or which is not reflected in
the Registration Statement or Prospectus but should be reflected therein in order to make the statements or information contained therein not misleading in any material respect, and such untrue or incorrect statement or information is not corrected
in an amendment or supplement to the Registration Statement or Prospectus, or 
 (b) prior to that time, any of the events described in
Sections 6(b) [or (g)] shall have occurred. 
 If this Agreement is terminated pursuant to any of the provisions hereof, except as otherwise
provided herein, the Company shall not be under any liability to the Remarketing Agent and the Remarketing Agent shall not be under any liability to the Company, except that (a) if this Agreement is terminated by the Remarketing Agent because
of any failure or refusal on the part of the Company to comply with the terms or to fulfill any of the conditions of this Agreement, the Company will reimburse the Remarketing Agent for all of its out-of-pocket expenses (including the fees and
disbursements of its counsel) reasonably incurred by it, and (b) if the Remarketing Agent failed or refused to purchase the Remarketed Securities hereunder, without some reason sufficient hereunder to justify the cancellation or termination of
its obligations hereunder, the Remarketing Agent shall not be relieved of liability to the Company for damages occasioned by its default. 
 Section 12. Notices. 
 All statements, requests, notices and agreements hereunder shall be in writing, and:

 (a) if to the Remarketing Agent, shall be delivered or sent by mail, telex or facsimile transmission to
                     Attention:
                    ; 
  

 13 

 (b) if to the Company or Capital Funding, shall be delivered or sent by mail, telex or facsimile
transmission to Two North Ninth Street, Allentown, Pennsylvania 18101-1179, Attention: Treasurer. (Fax: (610) 774-            ). 
 Any such statements, requests, notices or agreements shall take effect at the time of receipt thereof. 
 Section 13. Persons Entitled to Benefit of Agreement. 
 This Agreement shall inure to the benefit of and be binding upon the Remarketing Agent, the Company, Capital Funding and their respective successors. This Agreement and the terms and provisions hereof are for the sole
benefit of only those persons, except that (x) the representations, warranties, indemnities and agreements of the Company contained in this Agreement shall also be deemed to be for the benefit of the Remarketing Agent and the person or persons,
if any, who control the Remarketing Agent within the meaning of Section 15 of the Securities Act and (y) the indemnity agreement of the Remarketing Agent contained in Section 7(b) of this Agreement shall be deemed to be for the
benefit of the Company’s directors and officers who sign the Registration Statement and any person controlling the Company within the meaning of Section 15 of the Securities Act. Nothing contained in this Agreement is intended or shall be
construed to give any person, other than the persons referred to herein, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. 
 Section 14. Survival. 
 The respective
indemnities, representations, warranties and agreements of the Company Capital Funding and the Remarketing Agent contained in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall survive the Remarketing and
shall remain in full force and effect, regardless of any investigation made by or on behalf of any of them or any person controlling any of them. 
 Section 15. Governing Law. 
 This Agreement shall be governed by, and construed in accordance with, the laws of
New York. 
 Section 16. Counterparts. 
 This Agreement may be executed in one or more counterparts and, if executed in more than one counterpart, the executed counterparts shall each be deemed to be an original but all such counterparts shall together
constitute one and the same instrument. 
 Section 17. Headings. 
 The headings herein are inserted for convenience of reference only and are not intended to be part of, or to affect the meaning or interpretation of, this
Agreement. If the foregoing correctly sets forth the agreement between the Company and the Remarketing Agent, please indicate your acceptance in the space provided for that purpose below. 
  

 14 

 If the foregoing correctly sets forth the agreement between the Company and the Remarketing Agent, please
indicate your acceptance in the space provided for that purpose below. 
  

			
	Very truly yours,
	
	PPL CORPORATION
		
	By:	 	  

	Title:	 	
	
	PPL CAPITAL FUNDING, INC.
		
	By:	 	  

  

			
	Accepted:
	  

		
	By:	 	  

		 	Authorized Representative

  

 15Form of Supplemental Indenture - PPL Energy Supply, LLC

 EXHIBIT 4.11 
  
  
  
 PPL ENERGY SUPPLY, LLC, 
 Issuer 

 TO 
 THE BANK OF NEW
YORK MELLON, 
 (as successor Trustee to JPMorgan Chase Bank, N.A. 
 (formerly known as The Chase Manhattan Bank), 
 Trustee 
  
  
 Supplemental Indenture No.              
 Dated as of                      
 Supplemental to the Indenture 
 dated as of October 1, 2001

 Establishing a series of Securities designated 
 Senior Notes         % Series                     , due
                     
 initially limited in aggregate principal amount to $             
  
  
  

 SUPPLEMENTAL INDENTURE No.
            , dated as of                      between PPL ENERGY SUPPLY, LLC,
a limited liability company duly organized and existing under the laws of the State of Delaware (herein called the “Company”), and THE BANK OF NEW YORK MELLON, a New York banking corporation (as successor to JPMorgan Chase Bank,
N.A. (formerly known as The Chase Manhattan Bank)), as Trustee (herein called the “Trustee”), under the Indenture dated as of October 1, 2001 (hereinafter called the “Original Indenture”), this Supplemental Indenture No.
             being supplemental thereto. The Original Indenture and any and all indentures and instruments supplemental thereto are hereinafter sometimes collectively called the
“Indenture.” 
 Recitals of the Company 
 The Original Indenture was authorized, executed and delivered by the Company to provide for the issuance by the Company from time to time of its Securities (such term and all other capitalized terms used herein
without definition having the meanings assigned to them in the Original Indenture), to be issued in one or more series as contemplated therein. 
 As contemplated by Sections 301 and 1201(f) of the Original Indenture, the Company wishes to establish a series of Securities to be designated “Senior Notes,         %
Series             , due                     ” to be limited in aggregate
principal amount (except as contemplated in Section 301(b) and the last paragraph of Section 301 of the Original Indenture) to $        , such series of Securities to be hereinafter sometimes called
“Series No.             .” 
 The Company has duly authorized the
execution and delivery of this Supplemental Indenture No.              to establish the Securities of Series
No.              and has duly authorized the issuance of such Securities; and all acts necessary to make this Supplemental Indenture No.
             a valid agreement of the Company and to make the Securities of Series No.              valid obligations of the
Company have been performed. 
 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE
No.              WITNESSETH: 
 For and in consideration of the premises
and of the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities of Series
No.             , as follows: 
 ARTICLE ONE 
                      Series of Securities

 Section 1. There is hereby created a series of Securities designated “Senior Notes,
        % Series             ” and limited in aggregate principal amount (except as contemplated in Section 301(b) and the last
paragraph of Section 301 of the Original Indenture) to $        . The form and terms of the Securities of Series No.             shall be
established in an Officer’s Certificate of the Company, as contemplated by Section 301 of the Original Indenture. 

 Section 2. The Company hereby agrees that, if the Company shall make any deposit of money
and/or Eligible Obligations with respect to any Securities of Series No.             , or any portion of the principal amount thereof, as contemplated by Section 701 of the
Indenture, the Company shall not deliver an Officer’s Certificate described in clause (z) in the first paragraph of said Section 701 unless the Company shall also deliver to the Trustee, together with such Officer’s Certificate,
either: 
 (A) an instrument wherein the Company, notwithstanding the satisfaction and discharge of its indebtedness in
respect of such Securities, shall assume the obligation (which shall be absolute and unconditional) to irrevocably deposit with the Trustee or Paying Agent such additional sums of money, if any, or additional Eligible Obligations (meeting the
requirements of Section 701), if any, or any combination thereof, at such time or times, as shall be necessary, together with the money and/or Eligible Obligations theretofore so deposited, to pay when due the principal of and premium, if any,
and interest due and to become due on such Securities or portions thereof, all in accordance with and subject to the provisions of said Section 701; provided, however, that such instrument may state that the obligation of the Company to make
additional deposits as aforesaid shall arise only upon the delivery to the Company by the Trustee of a notice asserting the deficiency and showing the calculation thereof and shall continue only until the Company shall have delivered to the Trustee
an opinion of an independent public accountant of nationally recognized standing to the effect that no such deficiency exists and showing the calculation of the sufficiency of the deposits then held by the Trustee; or 
 (B) an Opinion of Counsel to the effect that the Holders of such Securities, or portions of the principal amount thereof, will not
recognize income, gain or loss for United States federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect thereof and will be subject to United States federal income tax on the same
amounts, at the same times and in the same manner as if such satisfaction and discharge had not been effected. 
 Section 3. The
Company agrees that for so long as any Securities of Series No.             shall remain Outstanding, without consent of the Holders of a majority in principal amount of the
Outstanding Securities of such series, the Company shall not create, incur or assume any Lien (other than Permitted Liens) upon any property of the Company, whether now owned or hereafter acquired, in order to secure any Debt of the Company. The
foregoing agreement shall not restrict the ability of Subsidiaries or Affiliates of the Company to create, incur or assume any Lien upon their properties or assets. 
 Section 4. The provisions of Section 3 above shall not prohibit the creation, issuance, incurrence or assumption of any Lien if either: 
 (A) the Company shall make effective provision whereby all Securities of Series
No.              then Outstanding shall be secured equally and ratably with all other Debt then outstanding under such Lien; or 
  

 3 

 (B) the Company shall deliver to the Trustee bonds, notes or other evidences of
indebtedness secured by the Lien which secures such Debt (hereinafter called “Secured Obligations”) (I) in an aggregate principal amount equal to the aggregate principal amount of the Securities of Series
No.             then Outstanding, (II) maturing (or being subject to mandatory redemption) on such dates and in such principal amounts that, at each Stated Maturity of the Outstanding
Securities of Series No.             , there shall mature (or be redeemed) Secured Obligations equal in principal amount to such Securities then to mature and (III) containing, in
addition to any mandatory redemption provisions applicable to all Secured Obligations outstanding under such Lien and any mandatory redemption provisions contained therein pursuant to clause (II) above, mandatory redemption provisions correlative to
the provisions, if any, for the mandatory redemption (pursuant to a sinking fund or otherwise) of the Securities of Series No.             or for the redemption thereof at the option
of the Holder, as well as a provision for mandatory redemption upon an acceleration of the maturity of all Outstanding Securities of Series No.             following an Event of
Default (such mandatory redemption to be rescinded upon the rescission of such acceleration); it being expressly understood that such Secured Obligations (X) may, but need not, bear interest, (Y) may, but need not, contain provisions for
the redemption thereof at the option of the issuer, any such redemption to be made at a redemption price or prices not less than the principal amount thereof and (Z) shall be held by the Trustee for the benefit of the Holders of all Securities
of Series No.             from time to time Outstanding subject to such terms and conditions relating to surrender to the Company, transfer restrictions, voting, application of
payments of principal and interest and other matters as shall be set forth in an indenture supplemental hereto specifically providing for the delivery to the Trustee of such Secured Obligations. 
 Section 5. If the Company shall elect either of the alternatives described in Section 4 above, the Company shall deliver to the Trustee:

 (A) an indenture supplemental to the Original Indenture (I) together with any appropriate inter-creditor arrangements,
whereby such Securities of Series No.             then Outstanding shall be secured by the Lien referred to in Section 4 above equally and ratably with all other indebtedness
secured by such Lien or (II) providing for the delivery to the Trustee of Secured Obligations; 
 (B) an Officer’s
Certificate (I) stating that, to the knowledge of the signer, (1) no Event of Default has occurred and is continuing and (2) no event has occurred and is continuing which entitles the secured party under such Lien to accelerate the
maturity of the indebtedness outstanding thereunder and (II) stating the aggregate principal amount of indebtedness issuable, and then proposed to be issued, under and secured by such Lien; and 
 (C) an Opinion of Counsel (I) if the Securities of Series
No.             then Outstanding are to be secured by such Lien, to the effect that all such Securities then Outstanding are entitled to the benefit of such Lien equally and ratably
with all other indebtedness outstanding under such Lien or (II) if Secured Obligations are to be 

  

 4 

 
delivered to the Trustee, to the effect that such Secured Obligations have been duly issued under such Lien and constitute valid obligations, entitled to the
benefit of such Lien equally and ratably with all other indebtedness then outstanding under such Lien. 
 Section 6. [The Company
agrees that for so long as any Securities of Series No.             shall remain Outstanding, and except for the sale of the properties and assets of the Company substantially as an
entirety pursuant to Article Eleven of the Original Indenture, and other than assets required to be sold to conform with governmental requirements, the Company shall not, and shall not permit any of its Subsidiaries to, consummate any Asset Sale, if
the aggregate net book value of all such Asset Sales consummated during the four calendar quarters immediately preceding any date of determination would exceed 15% of the consolidated assets of the Company and its consolidated Subsidiaries as of the
beginning of the Company’s most recently ended full fiscal quarter; provided, however, that any such Asset Sale will be disregarded for purposes of the 15% limitation specified above (i) if any such Asset Sale is in the ordinary course of
business, (ii) to the extent that such assets are worn out or are no longer useful or necessary in connection with the operation of the business of the Company or its Subsidiaries, (iii) to the extent such assets are being transferred to a
wholly-owned Subsidiary of the Company, (iv) to the extent any such assets subject to any such Asset Sale involve transfers of assets of or equity interests in connection with (a) the formation of any joint venture between the Company or
any of its Subsidiaries and any other entity, or (b) any project development and acquisition activities, and (v) if the proceeds thereof (a) are, within 12 months of such Asset Sale, invested or reinvested by the Company or any
Subsidiary in a Permitted Business, (b) are used by the Company or a Subsidiary to repay Debt of the Company or such Subsidiary, or (c) are retained by the Company or its Subsidiaries. Additionally, if prior to any Asset Sale that
otherwise would cause the 15% limitation to be exceeded, Moody’s and S&P confirm the then current long term debt rating of such Securities of Series No.             after
giving effect to such Asset Sale, such Asset Sale shall also be disregarded for purposes of the foregoing limitations.] 
 Section 7.
[So long as any Securities of Series No.             shall remain Outstanding, the following event shall be an Event of Default with respect to the Securities of Series
No.             : the occurrence of a matured event of default, as defined in any instrument of the Company under which there may be issued or evidenced any Debt of the Company, that
has resulted in the acceleration of such Debt in excess of $25,000,000, or any default in payment of Debt in excess of $25,000,000 at final maturity, after the expiration of any applicable grace or cure periods; provided, however, that the waiver or
cure of any such default under any such instrument or Debt shall constitute a waiver and cure of the corresponding Event of Default under the Indenture and the rescission and annulment of the consequences thereof shall constitute a rescission and
annulment of the corresponding consequences under the Indenture.] 
 Section 8. So long as any Securities of Series
No.             shall remain Outstanding, for purposes of Section 1101(a) of the Original Indenture, “corporation” shall be deemed to refer to a corporation or limited
liability company. For all other purposes, the definition of “corporation” in Section 101 of the Original Indenture shall govern. 
  

 5 

 Section 9. For the purposes of this Article One, except as otherwise expressly provided or
unless the context otherwise requires: 
 (A) “Asset Sale” shall mean any sale of any assets of the Company or its
Subsidiaries including by way of the sale by the Company or any of its Subsidiaries of equity interests in such Subsidiaries. 
 (B) “Debt”, with respect to any Person, means (i) indebtedness of such Person for borrowed money evidenced by a bond, debenture, note or other similar written instrument or agreement by which such Person is obligated to repay
such borrowed money and (ii) any guaranty by such Person of any such indebtedness of another Person. “Debt” does not include, among other things, (W) indebtedness of such Person under any installment sale or conditional sale
agreement or any other agreement relating to indebtedness for the deferred purchase price of property or services, (X) any trade obligations (including obligations under agreements relating to the purchase and sale of any commodity, including
power purchase or sale agreements, and any commodity hedges or derivatives regardless or whether such transaction is a “financial” or physical transaction) or other obligations of such Person in the ordinary course of business,
(Y) obligations of such Person under any lease agreement (including any lease intended as security), whether or not such obligations are required to be capitalized on the balance sheet of such Person under generally accepted accounting
principles, or (Z) liabilities secured by any Lien on any property owned by such Person if and to the extent that such Person has not assumed or otherwise become liable for the payment thereof. 
 (C) “Lien” means any lien, mortgage, deed of trust, pledge or security interest, in each case, intended to secure the repayment
of Debt, except for any Permitted Lien. 
 (D) “Material Subsidiary” means PPL Global, LLC, a Delaware limited
liability company, PPL EnergyPlus, LLC, a Delaware limited liability company, or PPL Generation, LLC, a Delaware limited liability company. 
 (E) “Moody’s” means Moody’s Investors Service, Inc. and its successors and assigns, or absent a successor, or if such entity ceases to rate the Securities of Series
No.             , such other nationally recognized statistical rating organization as the Company may designate by notice to the Trustee. 
 (F) “Permitted Business” means a business that is the same or similar to the business of the Company or any Subsidiary as of the
date that Securities of Series No.             are first authenticated hereunder, or any business reasonably related thereto. 
 (G) “Permitted Liens” means 
 (i) any Liens existing at [date of execution and delivery of this Supplemental Indenture]; 
  

 6 

 (ii) any vendors’ Liens, purchase money Liens and other Liens on property at the
time of acquisition thereof by the Company and Liens to secure or provide for the construction or improvement of property provided that no such Lien shall extend to or cover any other property of the Company; 
 (iii) any Liens on cash or securities (other than limited liability company interests issued by any Material Subsidiary), including any
cash or securities on hand or in banks or other financial institutions, deposit accounts and interests in general or limited partnerships; 
 (iv) any Liens on the equity interest of any Subsidiary that is not a Material Subsidiary; 
 (v) any Liens on property or shares of capital stock, or arising out of any Debt of any corporation existing at the time the corporation becomes or is merged or consolidated into the Company; 
 (vi) any Liens in connection with the issuance of tax-exempt industrial development or pollution control bonds or other similar bonds
issued pursuant to Section 103(b) of the Internal Revenue Code of 1986, as amended (or any successor provision), to finance all or any part of the purchase price of or the cost of constructing, equipping or improving property, provided that
such Liens are limited to the property acquired or constructed or improved and to substantially unimproved real property on which such construction or improvement is located; provided, further, that the Company may further secure all or any part of
such purchase price or the cost of construction or improvement by an interest on additional property of the Company only to the extent necessary for the construction, maintenance and operation of, and access to, such property so acquired or
constructed or such improvement; 
 (vii) any Liens on contracts, leases and other agreements of whatsoever kind and nature;
any Liens on contract rights, bills, notes and other instruments; any Liens on revenues, income and earnings, accounts, accounts receivable and unbilled revenues, claims, credits, demands and judgments; any Liens on governmental and other licenses,
permits, franchises, consents and allowances; and any Liens on patents, patent licenses and other patent rights, patent applications, trade names, trademarks, copyrights, claims, credits, choses in action and other intangible property and general
intangibles including, but not limited to, computer software; 
 (viii) any Liens securing Debt which matures less than one
year from the date of issuance or incurrence thereof and is not extendible at the option of the issuer, and any refundings, refinancings and/or replacements of any such Debt by or with similar secured Debt; 
  

 7 

 (ix) any Liens on automobiles, buses, trucks and other similar vehicles and movable
equipment; vessels, boats, barges and other marine equipment; airplanes, helicopters, aircraft engines and other flight equipment; parts, accessories and supplies used in connection with any of the foregoing; 
 (x) any Liens on furniture and furnishings, and computers, data processing, data storage, data transmission, telecommunications and other
equipment and facilities, equipment and apparatus, which, in any case, are used primarily for administrative or clerical purposes; 
 (xi) any Liens on property which is the subject of a lease agreement designating the Company as lessee and all right, title and interest of the Company in and to such property and in, to and under such lease agreement, whether or not such
lease agreement is intended as security; 
 (xii) other Liens securing Debt the principal amount of which does not exceed 10%
of the total assets of the Company and its consolidated Subsidiaries as shown on the Company’s most recent audited consolidated balance sheet; and 
 (xiii) any Liens granted in connection with extending, renewing, replacing or refinancing, in whole or in part, the Debt secured by liens described in the foregoing clauses (i) through (xii), to the extent of
such Debt so extended, renewed, replaced or refinanced. 
 (H) “S&P” means Standard & Poor’s
Ratings Services, a division of The McGraw-Hill Companies, Inc. and its successors and assigns, or absent a successor, or if such entity ceases to rate the Securities of Series No. __, such other nationally recognized statistical rating
organization as the Company may designate by notice to the Trustee. 
 (I) “Subsidiary” means any corporation a
majority of the outstanding Voting Stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries of the Company. 
 (J) “Voting Stock” means stock (or other interests) of a corporation having voting power for the election of directors, managers or trustees thereof, whether at all times or only so long as no senior class
of stock has such voting power by reason of any contingency. 
 ARTICLE TWO 
 Miscellaneous Provisions 
 Section 1. This Supplemental Indenture
No.             is a supplement to the Original Indenture. As supplemented by this Supplemental Indenture No.             , the
Indenture is in 

  

 8 

 
all respects ratified, approved and confirmed, and the Original Indenture and this Supplemental Indenture No.
            shall together constitute one and the same instrument. 
 Section 2. The recitals contained in this Supplemental Indenture No.             shall be taken as the statements of the Company and the Trustee assumes no
responsibility for their correctness and makes no representations as to the validity or sufficiency of this Supplemental Indenture No.             . 
 Section 3. This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same instrument. 
  

 9 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture No.
            to be duly executed as of the day and year first written above. 
  

			
	PPL ENERGY SUPPLY, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 THE BANK OF NEW YORK MELLON,
     as Trustee

		
	By:	 	  

	Name:	 	
	Title:	 	

  

 10

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