Document:

Exhibit 4.1

 

MIDAMERICAN ENERGY COMPANY

and

THE BANK OF NEW YORK TRUST COMPANY, N.A.,

as Trustee

 

5.30% Senior Notes due 2018

 

Third Supplemental Indenture

 

Dated as of March 25, 2008

 

 

THIRD SUPPLEMENTAL INDENTURE, dated as of March 25, 2008 (herein called the “Third Supplemental Indenture”), between MIDAMERICAN ENERGY COMPANY, a corporation duly organized and existing under the laws of the State of Iowa (herein called the “Company”), and THE BANK OF NEW YORK TRUST COMPANY, N.A., a New York banking association duly organized and existing under the laws of the United States of America, as Trustee (herein called the “Trustee”), under the Original Indenture referred to below.

W I T N E S S E T H :

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture dated as of October 1, 2006 (herein called the “Original Indenture”), to provide for the issuance from time to time of its unsubordinated debentures, notes or other evidences of indebtedness, the form and terms of which are to be established as set forth in Sections 2.01 and 3.01 of the Original Indenture;

WHEREAS, the Company has heretofore executed and delivered to the Trustee (i) a first supplemental indenture dated as of October 6, 2006, to provide for the issuance under the Original Indenture of up to an aggregate principal amount of three hundred fifty million dollars ($350,000,000) of its 5.800% Notes due 2036 and (ii) a second supplemental indenture dated as of June 29, 2007, to provide for the issuance under the Original Indenture of up to an aggregate principal amount of four hundred million dollars ($400,000,000) of its 5.65% Senior Notes due 2012 and two hundred fifty million dollars ($250,000,000) of its 5.95% Senior Notes due 2017;

WHEREAS, Section 9.01 of the Original Indenture provides, among other things, that the Company and the Trustee may enter into indentures supplemental to the Original Indenture for, among other things, (i) the purpose of establishing the form and terms of the Securities (as defined in the Original Indenture) of any series as permitted by Sections 2.01 and 3.01 of the Original Indenture, and (ii) to add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (as defined in the Original Indenture);

WHEREAS, the Company desires to create a series of its unsecured securities in an aggregate principal amount of $250,000,000 to be designated the “5.30% Senior Notes due 2018” (the “Securities”), and all action on the part of the Company necessary to authorize the issuance of the Securities under the Original Indenture and this Third Supplemental Indenture has been duly taken;

WHEREAS, the Company and the Trustee desire to make certain amendments to the Original Indenture in conformance with the requirements described above; and

 

 

 

 

 

WHEREAS, all acts and things necessary to make the Securities, when executed by the Company and authenticated and delivered by the Trustee as provided in the Original Indenture, the valid and binding obligations of the Company and to constitute these presents a valid and binding supplemental indenture and agreement according to its terms, have been done and performed.

NOW, THEREFORE, THIS THIRD SUPPLEMENTAL INDENTURE WITNESSETH:

That in consideration of the premises and of the acceptance and purchase of the Securities by the holders thereof and of the acceptance of this trust by the Trustee, the Company covenants and agrees with the Trustee, for the equal benefit of holders of the Securities, as follows:

ARTICLE I

DEFINITIONS

Unless otherwise defined herein, the use of the terms and expressions herein is in accordance with the definitions, uses and constructions contained in the Original Indenture and the forms of Securities attached hereto as Exhibits A and B.

ARTICLE II

TERMS AND ISSUANCE OF THE SECURITIES

Section 2.01. Issue of Securities. A series of debt securities, which shall be designated the “5.30% Senior Notes due 2018” shall be executed, authenticated and delivered in accordance with the provisions of, and shall in all respects be subject to, the terms, conditions and covenants of the Original Indenture and this Third Supplemental Indenture (including the forms of Securities set forth in Exhibit A). 

Section 2.02. Optional Redemption. The Securities may be redeemed, in whole or in part, at the option of the Company pursuant to the terms set forth in Annex 1 to the Securities to be redeemed. The provisions of Article XI of the Original Indenture shall also apply to any optional redemption of Securities by the Company. 

Section 2.03. Defeasance and Discharge. The provisions of Section 14.02 of the Original Indenture shall be applicable to the Securities. 

Section 2.04. Covenant Defeasance. The provisions of Section 14.03 of the Original Indenture shall be applicable to the Securities. 

Section 2.05. Place of Payment. The Place of Payment in respect of the Securities will be initially at the Corporate Trust Office of The Bank of New York Trust 

 

 

2

 

Company, N.A. (which as of the date hereof is located at 2 N. LaSalle Street, Suite 1020, Chicago, Illinois 60602, Attention:  Corporate Trust Administration).

Section 2.06. Form of Securities; Incorporation of Terms. The form of the Securities shall be substantially in the form of Exhibit A, the terms of which are herein incorporated by reference and which are part of this Third Supplemental Indenture. Each of the Securities shall be issued as one or more Global Securities in fully registered form, as determined in accordance with Section 2.01 of the Original Indenture. The Global Securities shall be delivered by the Trustee to the Depositary, as the Holder thereof, or a nominee or custodian therefore, to be held by the Depositary in accordance with the Original Indenture.

Section 2.07. Exchange of the Global Securities. Each of the Global Securities shall be exchangeable for definitive Securities only as provided in Section 3.05 of the Original Indenture.

Section 2.08. Regular Record Date for the Securities. The Regular Record Date for the Securities shall be the first of March or the first of September immediately prior to each Interest Payment Date. 

Section 2.09. Authorized Denominations. Beneficial interests in Global Securities, as well as definitive Securities, may be held only in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

Section 2.10. Additional Securities. The Company may from time to time, without the consent of the Holders of the Securities, create and issue further securities having the same terms and conditions as the Securities in all respects, except for the original issue date and offering price. Additional Securities of each series issued in this manner will be consolidated with, and form a single series with, the Securities of such series and shall thereafter be deemed Securities for all purposes.

ARTICLE III

DEPOSITARY

Section 3.01. Depositary. The Depositary Trust Company, its nominees and their respective successors are hereby appointed Depositary with respect to the Global Securities of each series.

 

 

3

 

ARTICLE IV

MISCELLANEOUS

Section 4.01. Execution as Supplemental Indenture. This Third Supplemental Indenture is executed and shall be construed as an indenture supplemental to the Original Indenture and, as provided in the Original Indenture, this Third Supplemental Indenture forms a part thereof.

Section 4.02. Effect of Headings. The Article and Section headings herein are for convenience only and shall not affect the construction hereof.

Section 4.03. Successors and Assigns. All covenants and agreements contained in this Third Supplemental Indenture made by the Company shall bind its successors and assigns, whether so expressed or not.

Section 4.04. Separability Clause. In case any provision in this Third Supplemental Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

Section 4.05. Benefits of Third Supplemental Indenture. Nothing in this Third Supplemental Indenture or in the Securities, express or implied, shall give to any person, other than the parties hereto and their successors hereunder and the Holders of the Securities, any benefit or any legal or equitable right, remedy or claim under this Third Supplemental Indenture.

Section 4.06. Execution and Counterparts. This Third Supplemental Indenture may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

Section 4.07. Trustee Not Responsible for Recitals. The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Third Supplemental Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the Company of the Securities or the proceeds thereof.

[SIGNATURE PAGE FOLLOWS]

 

 

4

 

IN WITNESS WHEREOF, the parties hereof have caused this Third Supplemental Indenture to be duly executed by their respective officers or directors duly authorized thereto, all as of the day and year first above written.

 

	
                         
 	
                         
 	
                        MIDAMERICAN ENERGY COMPANY
 
	 	 	 	 
	
                          
 	
                         
 	
                        By: 
 	
                        /s/ Brian K. Hankel  
 
	
                         
 	
                         
 	
                         
 	
                        Name: Brian K. Hankel
 
	
                         
 	
                         
 	
                         
 	
                        Title: Vice President and Treasurer
 

 

	
                         
 	
                         
 	
                        THE BANK OF NEW YORK TRUST COMPANY, N.A.,
 as Trustee
 
	 	 	 	 
	
                          
 	
                         
 	
                        By: 
 	
                         /s/ Roxane Ellwanger
 
	
                         
 	
                         
 	
                         
 	
                        Name: Roxane Ellwanger
 
	
                         
 	
                         
 	
                         
 	
                        Title: Assistant Vice President
 

 

 

5

 

EXHIBIT A

Form of 5.30% Senior Notes due 2018Exhibit 4.2

 

	
                        REGISTERED
 	
                        No. 1
 

ILL.C.C. No. 6415 ($350,000,000 issued pursuant to Illinois Commerce Commission Docket No. 07-0199)

MIDAMERICAN ENERGY COMPANY

 

5.30% Senior Notes due 2018

 

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

The following summary of terms is subject to the provisions set forth below:

 

	
                        CUSIP: 595620 AH8
 
	
                        ORIGINAL ISSUE DATE: March 25, 2008
 
	
                        PRINCIPAL AMOUNT: $350,000,000
 
	
                        MATURITY DATE: March 15, 2018
 
	
                        INTEREST RATE: 5.30%
 
	
                        INTEREST PAYMENT DATES: March 15 and September 15, commencing September 15, 2008. 
 
	
                        RECORD DATES: March 1 and September 1.
 
	
      OPTIONAL REDEMPTION:
 	
      x   Yes
 	
                        o   No
 

MidAmerican Energy Company, an Iowa corporation (herein called the “Company”, which term includes any successor Person under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to CEDE & CO. or registered assigns the principal amount of THREE HUNDRED FIFTY MILLION DOLLARS ($350,000,000), in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, on the Maturity date specified above and to pay interest thereon, in such coin or currency, from and including the Original Issue Date specified above, or from and including the most recent Interest Payment Date specified above to which interest has been paid or duly provided for, as the case may be. Interest shall be paid in arrears semiannually on each Interest Payment Date in each year commencing on
September 15, 2008, at the per annum Interest Rate set forth above until Maturity and the principal hereof is paid or made available for payment. The interest so payable and punctually paid or duly provided for on any Interest Payment Date will, as provided in the Indenture (as defined below), be paid to the Person in 

 

 

i

 

whose name this Global Security is registered at the close of business on the Record Date specified above next preceding such Interest Payment Date; provided, however, that interest payable on the Maturity date or, if applicable, upon redemption, shall be payable to the Person to whom principal shall be payable. Except as otherwise provided in the Indenture, any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Record Date and shall be paid to the Person in whose name this Global Security is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Company, notice whereof shall be given to Holders not less than ten days prior to such Special Record Date. Payment of the principal of and any
premium and interest on this Global Security shall be made on or before 10:30 A.M., New York City time or such other time as shall be agreed upon between the Trustee and the Depositary, of the day on which such payment is due, by wire transfer into the account specified by the Depositary; provided, however, that as a condition to the payment at the Maturity date of any part of the principal of and any applicable premium on this Global Security, the Depositary shall surrender, or cause to be surrendered, this Global Security to the Trustee. The Company will pay any administrative costs imposed by banks in connection with making payments by wire transfer, but not any tax or other governmental charge imposed on the Holder of this Global Security.

Under certain circumstances, this Global Security is exchangeable in whole or from time to time in part for a definitive individual Security or Securities, with the same Original Issue Date, Maturity date, Interest Rate and redemption and other provisions as provided herein or in the Indenture.

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS GLOBAL SECURITY SET FORTH IN FULL ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH IN FULL AT THIS PLACE.

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof, directly or through an Authenticating Agent, by manual signature of an authorized signatory, this Global Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

 

ii

 

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.

 

	
                        Dated:  March 25, 2008
 	
                         
 	
                        MIDAMERICAN ENERGY COMPANY
 
	
                          
 	
                         
 	
                        

                        By: 
 	
                        /s/ Brian K. Hankel  
 
	
                         
 	
                         
 	
                         
 	
                        Name: Brian K. Hankel
 
	
                         
 	
                         
 	
                         
 	
                        Title:   Vice President and Treasurer
 

Attest:

 

	
                         
 	
                         
 	
                         
 
	
                        By: 
 	
                        /s/ Paul J. Leighton  
 	
                         
 	
                         
 	
                          
 
	
                         
 	
                        Name: Paul J. Leighton
 	
                         
 	
                         
 	
                         
 
	
                         
 	
                        Title:   Vice President and Secretary
 	
                         
 	
                         
 	
                         
 

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture.

 

	
                         
 	
                         
 	
                        THE BANK OF NEW YORK TRUST COMPANY, N.A., as Trustee
 
	
                          
 	
                         
 	
                        

                        By: 
 	
                        /s/ Roxane Ellwanger  
 
	
                         
 	
                         
 	
                         
 	
                        Name: Roxane Ellwanger
 Authorized Officer
 

 

 

iii

 

REVERSE OF NOTE

MIDAMERICAN ENERGY COMPANY

5.30% Senior Notes due 2018

This Global Security is one of, and a global security which represents Securities which are part of, the duly authorized 5.30% Senior Notes due 2018 of the Company (herein called the “Securities”), issued under an Indenture dated as of October 1, 2006, as amended and supplemented (herein called the “Indenture”), between the Company and The Bank of New York Trust Company, N.A., as Trustee (herein called the “Trustee”, which term includes any successor Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders, and of the terms upon which the Securities are, and are to be, authenticated and delivered.

Interest on this Global Security will be payable on the Interest Payment Date or Interest Payment Dates as specified on the face hereof and, in either case, at Maturity. Unless otherwise specified on the face hereof, payments on this Global Security with respect to any particular Interest Payment Date or the Maturity date will include interest accrued from and including the applicable Original Issue Date, or from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, to but excluding the particular Interest Payment Date or the Maturity date. Interest on this Global Security will be computed and paid on the basis of a 360-day year of twelve 30-day months. 

All percentages resulting from any calculation with respect to this Global Security will be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point (with five one-millionths of a percentage point rounded upward) and all dollar amounts used in or resulting from any such calculation with respect to this Global Security will be rounded to the nearest cent (with one-half cent being rounded upward).

“Business Day” means, unless otherwise specified on the face hereof, any Monday, Tuesday, Wednesday, Thursday or Friday that in The City of New York is not a day on which banking institutions are authorized or obligated by law or executive order to close. In any case where any Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity of any Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities) payment of interest or principal (and premium, if any) 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 the Interest Payment Date, Redemption Date, or at the Stated Maturity, provided that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date, or Stated
Maturity, as the case may be.

This Global Security will be subject to redemption at the option of the Company on any date in whole or from time to time in part in increments of $2,000 or integral multiples of $1,000 in excess thereof, at the Redemption Prices specified in an annex attached to this Global Security, plus accrued interest on the principal amount thereof to the Redemption Date, but payments due with respect to this Global Security prior to the Redemption Date will be paid to the Person in whose name this Global Security is registered at the close of business on the relevant Record Date specified on the face hereof, all as provided in the Indenture. The Company may exercise such option by causing the Trustee to mail a notice of such redemption, not less than 30 nor more than 60 days prior to the Redemption Date, in accordance with the provisions of the Indenture. In the event of redemption of this Global Security in
part only, this Global Security will be cancelled and a new Global Security representing the unredeemed portion hereof will be issued in the name of the Holder hereof. This Global Security is not subject to a sinking fund.

 

 

1

 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series that would be affected thereby. The Indenture also contains provisions permitting the Holders of not less than a majority in principal amount of the Outstanding Securities of a series, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain covenants in the Indenture. The Indenture also provides that the Holders of not less than a majority in principal amount of the Outstanding Securities of any affected series may on behalf of the Holders of all
Securities of such series waive certain existing Events of Default and their consequences. Any such consent or waiver of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security.

As set forth in, and subject to, the provisions and limitations set forth in the Indenture, the Holders of at least a majority in principal amount of the Outstanding Securities of each series shall have any right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series.

THIS GLOBAL SECURITY IS A GLOBAL SECURITY REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE THEREOF AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED HEREBY, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

If at any time the Depositary for this Global Security notifies the Company that it is unwilling or unable to continue as Depositary for this Global Security or if at any time the Depositary for this Global Security shall no longer be registered or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, the Company shall appoint a successor Depositary with respect to this Global Security. If a successor Depositary for this Global Security is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, the Company shall execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Securities of this series, shall authenticate and deliver Securities of this series in definitive form in an aggregate principal amount equal
to the principal amount of this Global Security in exchange for this Global Security.

The Company may at any time and in its sole discretion determine that the Securities of this series shall no longer be represented by a Global Security. In such event the Company shall execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Securities of this series, shall authenticate and deliver, Securities of this series in definitive registered form without coupons, in any authorized denominations, in an aggregate principal amount equal to the principal amount of this Global Security, in exchange for this Global Security.

The Company may from time to time, without the consent of Holders of the Securities, create and issue further notes having the same terms and conditions as the Securities in all respects, except for the 

 

 

2

 

Original Issue Date and Issue Price. Additional Securities issued in this manner will be consolidated with, and form a single series with, the Securities and shall thereafter be deemed Securities for all purposes.

No reference herein to the Indenture and no provision of this Global Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Global Security at the times, places and rates, and in the coin or currency, herein prescribed.

The Indenture contains provisions for the satisfaction and discharge of the Indenture upon compliance by the Company with certain conditions specified therein, which provisions apply to this Global Security.

The Indenture contains provisions for the defeasance and discharge of the Indenture upon compliance by the Company with certain conditions specified therein, which provisions apply to this Global Security.

The Indenture contains provisions for the defeasance of certain covenants of the Company upon compliance by the Company with certain conditions specified therein, which provisions apply to this Global Security.

The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Global Security is registered as the owner of this Global Security for the purpose of receiving payment of principal of (and premium, if any) and, subject to Section 3.07 of the Indenture, interest on this Global Security and for all other purposes whatsoever, whether or not this Global Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary.

The Indenture and the Securities are governed by and construed in accordance with the laws of the State of New York and for all purposes shall be governed by and construed in accordance with the laws of said state without regard to the conflicts of laws rules of said state.

All terms used in this Global Security which are defined in the Indenture but are not defined in this Global Security shall have the meanings assigned to them in the Indenture.

 

 

3

 

ANNEX 1

OPTIONAL REDEMPTION PROVISIONS

The Securities will be redeemable as a whole at any time or in part, from time to time, at the option of the Company, at a Redemption Price equal to the sum of (a) the greater of (i) 100% of the principal amount of the Securities being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon from the Redemption Date to the maturity date, computed by discounting such payments, in each case, to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 30 basis points, plus (b) accrued interest on the principal amount thereof to the Redemption Date.

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Securities to be 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 Security.

“Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) on the third business day in New York City preceding such redemption date, as set forth in the daily statistical release (or any successor release) published by the Federal Reserve Bank of New York and designated ‘‘Composite 3:30 p.m. Quotations for U.S. Government Securities’’ or (ii) if such release (or any successor release) is not published or does not contain such prices on such business day, the Reference Treasury Dealer Quotation for such redemption date.

“Independent Investment Banker” means an investment banking institution of international standing appointed by the Company.

“Reference Treasury Dealer” means a primary U.S. government securities dealer in New York City appointed by the Company.

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

“Treasury Rate” means the rate per annum equal to the semi-annual equivalent or interpolated (on a day-count basis) yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that redemption date.

Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each holder of the Securities to be redeemed. If, at the time notice of redemption is given, the redemption moneys are not held by the Trustee, the redemption may be made subject to their receipt on or before the Redemption Date and such notice shall be of no effect unless such moneys are so received. Upon payment of the Redemption Price, on and after the Redemption Date interest will cease to accrue on Securities or portions thereof called for redemption.

 

 

4

 

ABBREVIATIONS 

The following abbreviations, when used in the inscription of the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations:

 

	
                        TEN COM –
 	
                        as tenants in common
 
	
                        TEN ENT –
 	
                        as tenants by the entireties
 
	
                        JT TEN –
 	
                        as joint tenants with right of survivorship and not as tenants in common
 
	
                        UNIT GIFT MIN ACT –
 	
                        __________________ (Cust) Custodian 

                        __________________ (Minor) under Uniform Gifts to Minors Act

            __________________________________ 
                                             (State)
 

Additional abbreviations may also be used though not in the above list.

FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE:

_____________________________________

_____________________________________

 

	
                         
 
	
                        Please print or typewrite name and address
 including postal zip code of assignee
 

 

	
                         
 

the within Security and all rights thereunder, hereby irrevocably constituting and appointing _____________________ attorney to transfer said Security on the books of the Company, with full power of substitution in the premises.

 

	
                        Dated:___________________
 	
                         
 	
                         
 	
                         
 
	
                          
 	
                         
 	
                         
 	
                          
 
	
                         
 	
                         
 	
                         
 	
                        NOTICE:  The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular, without alteration or enlargement or any change whatever. The signature must be guaranteed by a commercial bank, a trust company or a member of the New York Stock Exchange.
 

 

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]