Document:

EX-4.2

 Exhibit 4.2 

VIRGINIA ELECTRIC AND POWER COMPANY 

Issuer 
 AND 

U.S. BANK NATIONAL ASSOCIATION 

Trustee 
  

 
 Fifth
Supplemental Indenture 
 Dated as of December 1, 2019 

 
  

$550,000,000 
 2019 Series B 3.30%
Senior Notes 
 Due 2049 

 TABLE OF CONTENTS* 
  

							
	 ARTICLE I 2019 SERIES B 3.30% SENIOR NOTES DUE 2049
	  	 	1	 
			
	 SECTION 101.
	 	Establishment	  	 	1	 
	 SECTION 102.
	 	Definitions	  	 	2	 
	 SECTION 103.
	 	Payment of Principal and Interest	  	 	4	 
	 SECTION 104.
	 	Denominations	  	 	5	 
	 SECTION 105.
	 	Global Securities	  	 	5	 
	 SECTION 106.
	 	Redemption	  	 	6	 
	 SECTION 107.
	 	Sinking Fund; Conversion	  	 	6	 
	 SECTION 108.
	 	Additional Interest on Overdue Amounts	  	 	7	 
	 SECTION 109.
	 	Paying Agent	  	 	7	 
		
	 ARTICLE II MISCELLANEOUS PROVISIONS
	  	 	7	 
			
	 SECTION 201.
	 	Ratification and Incorporation of Base Indenture	  	 	7	 
	 SECTION 202.
	 	Executed in Counterparts	  	 	7	 
	 SECTION 203.
	 	Assignment	  	 	7	 
	 SECTION 204.
	 	Identifying Information	  	 	7	 
	 SECTION 205.
	 	Trustee’s Disclaimer	  	 	7	 

  
  

	*	 This Table of Contents does not constitute part of the Indenture or have any bearing upon the interpretation of
any of its terms and provisions. 

 THIS FIFTH SUPPLEMENTAL INDENTURE is made as of the 1st day of December, 2019, by and
between VIRGINIA ELECTRIC AND POWER COMPANY, a Virginia corporation, having its principal office at 120 Tredegar Street, Richmond, Virginia 23219 (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as
Trustee, having a Corporate Trust Office at 1021 East Cary Street, Suite 1850, Richmond, Virginia 23219 (herein called the “Trustee”). 

W I T N E S S E T H: 
 WHEREAS,
the Company has heretofore entered into a Senior Indenture dated as of September 1, 2017, among the Company and the Trustee (as amended, restated or otherwise modified, the “Base Indenture”) with respect to senior debt securities;

 WHEREAS, the Base Indenture is incorporated herein by this reference and the Base Indenture, as supplemented by this Fifth Supplemental
Indenture, and as may be hereafter supplemented or amended from time to time, is herein called the “Indenture”; 
 WHEREAS, under
the Base Indenture, a new series of Securities may at any time be established in accordance with the provisions of the Base Indenture and the terms of such series may be described by a supplemental indenture executed by the Company and the Trustee;

 WHEREAS, the Company proposes to create under the Indenture a new series of Securities; 

WHEREAS, additional Securities of other series hereafter established, except as may be limited in the Base Indenture as at the time
supplemented and modified, may be issued from time to time pursuant to the Indenture as at the time supplemented and modified; and 

WHEREAS, all conditions necessary to authorize the execution and delivery of this Fifth Supplemental Indenture and to make it a valid and
binding obligation of the Company have been done or performed. 
 NOW, THEREFORE, in consideration of the agreements and obligations set
forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE I 
 2019 SERIES B
3.30% SENIOR NOTES DUE 2049 
 SECTION 101. Establishment. There is hereby established a new series of Securities to be issued
under the Indenture, to be designated as the Company’s 2019 Series B 3.30% Senior Notes due 2049 (the “Series B Senior Notes”). 

There are to be authenticated and delivered $550,000,000 principal amount of Series B Senior Notes, and such principal amount of the Series B
Senior Notes may be increased from time to time pursuant to the penultimate paragraph of Section 301 of the Base Indenture. All Series B Senior Notes need not be issued at the same time and such series may be reopened at any time, without the
consent of any Holder, for issuances of additional Series B Senior Notes. Any such additional Series B Senior Notes will have the same interest rate, maturity and other terms as those initially issued. Further Series B Senior Notes may also be
authenticated and delivered as provided by Sections 304, 305, 306, 905 or 1107 of the Base Indenture. 

 The Series B Senior Notes shall be issued as Registered Securities in global form without
coupons, in substantially the form set out in Exhibit A hereto. The entire initially issued principal amount of the Series B Senior Notes shall initially be evidenced by one or more certificates issued to Cede & Co., as nominee for
The Depository Trust Company. 
 The form of the Trustee’s Certificate of Authentication for the Series B Senior Notes shall be in
substantially the form set forth in Exhibit B hereto. 
 Each Series B Senior Note shall be dated the date of authentication thereof
and shall bear interest from the date of original issuance thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for. 

SECTION 102. Definitions. The following defined terms used herein shall, unless the context otherwise requires, have the meanings
specified below. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Base Indenture. 

“Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Business Day” means a day other than (i) a Saturday or a Sunday, (ii) a day on which banks in New York, New York are
authorized or obligated by law or executive order to remain closed or (iii) a day on which the Corporate Trust Office is closed for business. 

“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 Series B Senior Notes to be redeemed (assuming for this purpose, that the Series B Senior Notes matured on June 1, 2049) 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 in years and months of the Series B Senior Notes. 

“Comparable Treasury Price” for any Redemption Date means (i) the average of the five Reference Treasury Dealer Quotations for
such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such
quotations. 
 “Independent Investment Banker” means any of Deutsche Bank Securities Inc, MUFG Securities Americas Inc., SunTrust
Robinson Humphrey, Inc. and TD Securities (USA) LLC and their respective affiliates or successors, as selected by the Company, or if any such firm is unwilling or unable to serve as such, an independent investment and banking institution of national
standing appointed by the Company. 

  
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 “Interest Payment Dates” means June 1 and December 1 of each year,
commencing on June 1, 2020. 
 “Original Issue Date” means December 5, 2019. 

“Outstanding,” when used with respect to the Series B Senior Notes, means, as of the date of determination, all Series B Senior
Notes theretofore authenticated and delivered under the Indenture, except: 
 (i) Series B Senior Notes theretofore canceled by the Trustee
or delivered to the Trustee for cancellation; 
 (ii) Series B Senior Notes for whose payment at the Maturity thereof money in the necessary
amount has been theretofore deposited (other than pursuant to Section 402 of the Base Indenture) with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall
act as its own Paying Agent) for the Holders of such Series B Senior Notes, provided that, if such Series B Senior Notes are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory
to the Trustee has been made; 
 (iii) Series B Senior Notes with respect to which the Company has effected defeasance or covenant defeasance
pursuant to Section 402 of the Base Indenture, except to the extent provided in Section 402 of the Base Indenture; and 
 (iv)
Series B Senior Notes that have been paid pursuant to Section 306 of the Base Indenture or in exchange for or in lieu of which other Series B Senior Notes have been authenticated and delivered pursuant to the Indenture, other than any such
Series B Senior Notes in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Series B Senior Notes are held by a bona fide purchaser in whose hands such Series B Senior Notes are valid obligations of
the Company; provided, however, that in determining whether the Holders of the requisite principal amount of Outstanding Series B Senior Notes have given any request, demand, authorization, direction, notice, consent or waiver under the Indenture or
are present at a meeting of Holders of Series B Senior Notes for quorum purposes, Series B Senior Notes owned by the Company or any other obligor upon the Series B Senior Notes or any Affiliate of the Company or such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making any such determination or relying upon any such request, demand, authorization, direction, notice, consent or waiver, only
Series B Senior Notes which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Series B Senior Notes so owned which shall have been pledged in good faith may be regarded as Outstanding if the pledgee
establishes to the satisfaction of the Trustee (A) the pledgee’s right so to act with respect to such Series B Senior Notes and (B) that the pledgee is not the Company or any other obligor upon the Series B Senior Notes or an
Affiliate of the Company or such other obligor. 
 “Primary Treasury Dealer” means a primary United States government securities
dealer in the United States as designated by the Federal Reserve Bank of New York. 

  
 3 

 “Reference Treasury Dealer” means (i) Deutsche Bank Securities Inc.,
TD Securities (USA) LLC, one Primary Treasury Dealer selected by MUFG Securities Americas Inc. and one Primary Treasury Dealer selected by SunTrust Robinson Humphrey, Inc., and their respective successors or affiliates; provided that, if any
such firm or its successors or affiliates, as applicable, ceases to be a Primary Treasury Dealer, the Company shall substitute another Primary Treasury Dealer; and (ii) up to one other Primary Treasury Dealer selected by the Company. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average,
as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 3:30 p.m.,
New York City time, on the third Business Day preceding such Redemption Date. 
 “Regular Record Date” means, with respect to each
Interest Payment Date, the close of business on the Business Day preceding such Interest Payment Date; provided that, with respect to Series B Senior Notes that are not represented by one or more Global Securities, the Regular Record Date shall be
the close of business on the 15th calendar day (whether or not a Business Day) preceding such Interest Payment Date. 
 “Stated
Maturity” means December 1, 2049. 
 The terms “Company,” “Trustee,” “Base Indenture,” and
“Indenture” shall have the respective meanings set forth in the recitals to this Fifth Supplemental Indenture and the paragraph preceding such recitals. 

SECTION 103. Payment of Principal and Interest. The principal of the Series B Senior Notes shall be due at the Stated Maturity (unless
earlier redeemed). The unpaid principal amount of the Series B Senior Notes shall bear interest at the rate of 3.30% per annum until paid or duly provided for, such interest to accrue from the Original Issue Date or from the most recent Interest
Payment Date to which interest has been paid or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date to the Person in whose name the Series B Senior Notes are registered on the Regular Record Date for such
Interest Payment Date; provided that interest payable at the Stated Maturity of principal or on a Redemption Date as provided herein will be paid to the Person to whom principal is payable. Any such interest that is not so punctually paid or duly
provided for will forthwith cease to be payable to the Holders on such Regular Record Date and may either be paid to the Person or Persons in whose name the Series B Senior Notes are registered at the close of business on a Special Record Date for
the payment of such defaulted interest to be fixed by the Trustee (in accordance with Section 307 of the Base Indenture), notice whereof shall be given to Holders of the Series B Senior Notes not less than ten (10) days prior to such
Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, on which the Series B Senior Notes may be listed, and upon such notice as may be required by any such
exchange, all as more fully provided in the Base Indenture. 

  
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 Payments of interest on the Series B Senior Notes will include interest accrued to but
excluding the respective Interest Payment Dates. Interest payments for the Series B Senior Notes shall be computed and paid on the basis of a 360-day year of twelve
30-day months. In the event that any date on which interest is payable on the Series B Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding
day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally payable. 

Payment of the principal and interest on the Series B Senior Notes shall be made at the office of the Paying Agent 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, with any such payment that is due at the Stated Maturity of any Series B Senior Notes, upon redemption or repurchase being made upon
surrender of such Series B Senior Notes to the Paying Agent. Payments of interest (including interest on any Interest Payment Date) will be made, subject to such surrender where applicable, at the option of the Company, (i) by check mailed to
the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the
Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto. In the event that any date on which principal and interest is payable on the Series B Senior Notes is not a Business Day, then payment of the
principal and interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the
payment was originally payable. 
 SECTION 104. Denominations. The Series B Senior Notes may be issued in denominations of $2,000, or
any greater integral multiple of $1,000. 
 SECTION 105. Global Securities. The Series B Senior Notes will be initially issued in the
form of one or more Global Securities registered in the name of the Depositary (which shall be The Depository Trust Company) or its nominee. Except under the limited circumstances described below, Series B Senior Notes represented by such Global
Securities will not be exchangeable for, and will not otherwise be issuable as, Series B Senior Notes in definitive form registered in names other than the Depositary or its nominee. The Global Securities described above may not be transferred
except 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 to a successor Depositary or its nominee. 

Owners of beneficial interests in such a Global Security will not be considered the Holders thereof for any purpose under the Indenture, and
no Global Security representing a Series B Senior Note shall be exchangeable, except for another Global Security of like denomination and tenor to be registered in the name of the Depositary or its nominee or to a successor Depositary or its nominee
or except as described below. The rights of Holders of such Global Security shall be exercised only through the Depositary. 
 A Global
Security shall be exchangeable for Series B Senior Notes registered in the names of persons other than the Depositary or its nominee only if (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for
such Global Security and no successor Depositary shall have been appointed by the Company within 90 days of receipt by the Company of such notification, or if at any time the Depositary ceases to be a clearing agency registered under the Exchange
Act at a time when the Depositary is required to be so registered to act as such 

  
 5 

 
Depositary and no successor Depositary shall have been appointed by the Company within 90 days after it becomes aware of such cessation, (ii) the Company in its sole discretion, and subject
to the procedures of the Depositary, determines that such Global Security shall be so exchangeable, in which case Series B Senior Notes in definitive form will be printed and delivered to the Depositary, or (iii) an Event of Default has
occurred and is continuing with respect to the Series B Senior Notes. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Series B Senior Notes registered in such names as the Depositary shall
direct. 
 SECTION 106. Redemption. The Series B Senior Notes are redeemable, in whole or in part, at any time and from time to time
prior to June 1, 2049, at the option of the Company, at a Redemption Price equal to the greater of: 
 (i) 100% of the principal amount
of Series B Senior Notes then Outstanding to be so redeemed, or 
 (ii) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Adjusted Treasury Rate, plus 20 basis points, as calculated by an Independent Investment Banker, 

plus, in either of the above cases, accrued and unpaid interest thereon to the Redemption Date. 

In addition, the Series B Senior Notes are redeemable, in whole or in part at any time and from time to time on or after June 1, 2049 at
the option of the Company, at a Redemption Price equal to 100% of the principal amount of the Series B Senior Notes then outstanding to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date. 

The Adjusted Treasury Rate shall be calculated on the third Business Day preceding the Redemption Date. 

Unless the Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the
Series B Senior Notes or portions thereof called for redemption. 
 In the event of the redemption of the Series B Senior Notes in part
only, a new Series B Senior Note or Notes for the unredeemed portion will be issued in the name or names of the Holders thereof upon surrender thereof. 

The Company shall notify the Trustee in writing of the Redemption Price promptly after the calculation thereof and the Trustee shall have no
responsibility for such calculation. The notice of redemption shall be sent in accordance with the terms of the Base Indenture. 
 SECTION
107. Sinking Fund; Conversion. The Series B Senior Notes shall not have a sinking fund. The Series B Senior Notes are not convertible into or exchangeable for Equity Securities and/or any other securities. 

  
 6 

 SECTION 108. Additional Interest on Overdue Amounts. Any principal of and installment
of interest on the Series B Senior Notes that is overdue shall bear interest at the rate of 3.30% (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made
available for payment, and such interest shall be payable on demand. 
 SECTION 109. Paying Agent. The Trustee shall initially serve
as Paying Agent with respect to the Series B Senior Notes, with the Place of Payment initially being the Corporate Trust Office. 

ARTICLE II 

MISCELLANEOUS PROVISIONS 

SECTION 201. Ratification and Incorporation of Base Indenture. As supplemented hereby, the Base Indenture is in all respects ratified
and confirmed by the Company. The Base Indenture and this Fifth Supplemental Indenture shall be read, taken and construed as one and the same instrument. 

SECTION 202. Executed in Counterparts. This Fifth Supplemental Indenture may be executed in several counterparts, each of which shall
be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Fifth Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute
effective execution and delivery of this Fifth Supplemental Indenture as to the parties hereto and may be used in lieu of the original, manually executed Fifth Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by
facsimile or PDF shall be deemed to be their original signatures for all purposes. 
 SECTION 203. Assignment. The Company shall have
the right at all times to assign any of its rights or obligations under the Indenture with respect to the Series B Senior Notes to a direct or indirect wholly-owned subsidiary of the Company; provided that, in
the event of any such assignment, the Company shall remain primarily liable for the performance of all such obligations. The Indenture may also be assigned by the Company in connection with a transaction described in Article VIII of the Base
Indenture. 
 SECTION 204. Identifying Information. To help the government fight the funding of terrorism and
money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. For a non-individual person such as a
legal entity, the Trustee requires documentation to verify its formation and existence. The Trustee may ask to see financial statements, licenses, and identification and authorization documents from individuals claiming authority to represent the
entity or other relevant documentation. 
 SECTION 205. Trustee’s Disclaimer. All of the provisions contained in
the Base Indenture in respect of the rights, powers, privileges, protections, duties and immunities of the Trustee, including without limitation its right to be indemnified, shall be applicable in respect of the Series B Senior Notes and of this
Fifth Supplemental Indenture as fully and with like effect as if set forth herein in full. The Trustee accepts the amendments of the Indenture effected by this 

  
 7 

 
Fifth Supplemental Indenture, but on the terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting the liabilities and responsibilities of the
Trustee. Without limiting the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect to any of the recitals or statements contained herein, all of which recitals or statements are made solely
by the Company, or for or with respect to (i) the validity or sufficiency of this Fifth Supplemental Indenture or any of the terms or provisions hereof, (ii) the proper authorization hereof by the Company by action or otherwise,
(iii) the due execution hereof by the Company, or (iv) the consequences of any amendment herein provided for, and the Trustee makes no representation with respect to any such matters. 

[Signature Page Follows] 

  
 8 

 IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name
and behalf by its duly authorized officer, all as of the day and year first above written. 
  

			
	VIRGINIA ELECTRIC AND POWER COMPANY
		
	By:	 	 /s/ James R. Chapman

	Name:	 	James R. Chapman
	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Nancy H. Taylor

	Name:	 	Nancy H. Taylor
	Title:	 	Vice President

  
 9 

 EXHIBIT A 

FORM OF 
 2019 SERIES B
3.30% SENIOR NOTE 
 DUE 2049 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO
THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF [CEDE & CO.] OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
AND ANY PAYMENT IS MADE TO [CEDE & CO.], ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, [CEDE & CO.], HAS AN INTEREST HEREIN.]** 

[THIS SERIES B SENIOR NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SERIES B SENIOR NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SERIES B SENIOR NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN
SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY SERIES B SENIOR NOTE AUTHENTICATED AND DELIVERED UPON REGISTRATION OF, TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS SERIES B SENIOR
NOTE SHALL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]** 
  

 
 VIRGINIA
ELECTRIC AND 
 POWER COMPANY 
  

 
 $______________

 2019 SERIES B 3.30% SENIOR NOTE 

DUE 2049 
  

			
	 No. R-
	  	 CUSIP No. 927804 GC2

 Virginia Electric and Power Company, a corporation duly organized and existing under the laws of Virginia
(herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to [Cede & Co.]**, or registered assigns (the “Holder”), the
principal sum of ________________ Dollars ($_____________) on December 1, 2049 and to pay interest thereon from December 5, 2019 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, 

 

	**	 Insert in Global Securities. 

 
semi-annually in arrears on June 1 and December 1 of each year, commencing on June 1, 2020, at the rate of 3.30% per annum, until the principal hereof is paid or made available for
payment, provided that any principal, and any such installment of interest, that is overdue shall bear interest at the rate of 3.30% per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such
amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be
paid to the Person in whose name this Series B Senior Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; provided that the interest payable at Stated Maturity or on a
Redemption Date will be paid to the Person to whom principal is payable. The Regular Record Date shall be the close of business on the Business Day preceding such Interest Payment Date; provided, that with respect to Series B Senior Notes that are
not represented by one or more Global Securities, the Regular Record Date shall be the close of business on the 15th calendar day (whether or not a Business Day) preceding such Interest Payment Date. Any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Series B Senior Note (or one or more Predecessor Securities) is registered at the close of business on
a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Series B Senior Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any
other lawful manner not inconsistent with the requirements of any securities exchange on which the Series B Senior Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Payments of interest on the Series B Senior Notes will include interest accrued to but excluding the respective Interest Payment Dates.
Interest payments for the Series B Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that any date on which
interest is payable on the Series B Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such
delay), in each case with the same force and effect as if made on the date the payment was originally payable. 
 Payment of the principal
of and interest on this Series B Senior Note will be made at the office of the Paying Agent, in the City of Richmond, Virginia, 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, with any such payment that is due at the Stated Maturity of any Series B Senior Note, upon redemption or repurchase being made upon surrender of such Series B Senior Note to such office or agency; provided, however, that at the
option of the Company payment of interest, subject to such surrender where applicable, may be made (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire
transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto. 

  
 2 

 Reference is hereby made to the further provisions of this Series B Senior Note set forth on
the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Series B Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	 VIRGINIA ELECTRIC AND POWER COMPANY

			
	                	 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  
 3 

 [REVERSE OF 2019 SERIES B 3.30% SENIOR NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under a Senior Indenture dated as of September 1, 2017 (the “Base Indenture”), among the Company and U.S. Bank National Association, as Trustee (the “Trustee”), as previously supplemented and as
further supplemented by a Fifth Supplemental Indenture dated as of December 1, 2019 (the “Fifth Supplemental Indenture” and, together with the Base Indenture, as it may be hereafter supplemented or amended from time to time, the
“Indenture,” which term shall have the meaning assigned to it in such instrument), by and between the Company and the Trustee, and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights,
duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face
hereof (the “Series B Senior Notes”) which is unlimited in aggregate principal amount. 
 The Series B Senior Notes are
redeemable, in whole or in part, at any time and from time to time in the manner and with the effect provided in the Indenture. 
 If an
Event of Default with respect to Series B Senior Notes shall occur and be continuing, the principal of the Series B Senior Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

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 of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee for the series of Securities affected, with the consent of the Holders of a majority in
principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time
Outstanding, on behalf of the Holders of all Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Series B Senior Note shall be conclusive and binding
upon such Holder and upon all future Holders of this Series B Senior Note and of any Series B Senior Note issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Series B Senior Note. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Series B Senior
Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of
a continuing Event of Default with respect to the Series B Senior Notes, the Holders of not less than a majority in principal amount of the Series B Senior Notes at the time Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity or security reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Series B Senior
Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such 

  
 4 

 
proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Series B Senior Note for the
enforcement of any payment of principal hereof or premium, if any, or interest hereon on or after the respective due dates expressed or provided for herein. 

No reference herein to the Indenture and no provision of this Series B Senior Note or of the Indenture shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Series B Senior Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Series B Senior Note is registrable in
the Security Register, upon surrender of this Series B Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of, premium, if any, and interest on this Series B Senior Note are payable, duly
endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Series B
Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Series B Senior Notes are issuable only in registered form without coupons in denominations of $2,000 and any greater integral multiple of
$1,000. As provided in the Indenture and subject to certain limitations therein set forth, Series B Senior Notes are exchangeable for a like aggregate principal amount of Series B Senior Notes having the same Stated Maturity and of like tenor of any
authorized denominations as requested by the Holder upon surrender of the Series B Senior Note or Series B Senior Notes to be exchanged at the office or agency of the Company. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Series B Senior Note for
registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Series B Senior Note be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Series B
Senior Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 5 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on 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 rights of survivorship and not as tenants in common
			
	UNIF GIFT MIN ACT -	  	  
	 	Custodian for
		  	(Cust)	 	
			
		  	  
	 	
		  	(Minor)	 	
			
		  	Under Uniform Gifts to Minors Act of	 	
			
		  	  
	 	
		  	(State)	 	

  

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

  
 6 

 FOR VALUE RECEIVED, the undersigned hereby sell(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 Series B Senior Note and all rights thereunder, hereby irrevocably constituting and
appointing 

                       
                                         
                                         
                                         
                                         
                                         
                    . 

                       
                                         
                                         
                                         
                                         
                                         
                    . 

                       
                                         
                                         
                                         
                                         
                                         
                    . 

                       
                                         
                                         
                                         
                                         
                                         
                    . 

                       
                                         
                                         
                                         
                                         
                                         
                    . 

                       
                                         
                                         
                                         
                                         
                                         
                    . 
 agent to transfer said
Series B Senior Note 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. 

  
 7 

 EXHIBIT B 

CERTIFICATE OF AUTHENTICATION 

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

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee

 
			
		
	By:	 	
                     

 
			
	       Authorized Signatory
		
	Dated:	 	

  
 8exhibit10110262019

Exhibit 10.1                                                            EXECUTION VERSION         AMENDMENT NO. 15 TO THIRD AMENDED AND RESTATED RECEIVABLES                                PURCHASE AGREEMENT            This  AMENDMENT  NO.  15  TO  THIRD  AMENDED  AND  RESTATED     RECEIVABLES PURCHASE AGREEMENT (this      “Amendment”) is entered into as of the 9th    day of August 2019 by and among MUFG Bank, Ltd. (f/k/a The Bank of Tokyo-Mitsubishi UFJ,    Ltd.) (“MUFG”), as a Purchaser Agent (in such capacity, the “MUFG Purchaser Agent”), as a    Financial  Institution  and  as  the  Agent  (in  such  capacity,  the  “Agent”),  Victory  Receivables    Corporation, as a Conduit (the “MUFG Conduit”), PDC Funding Company, LLC, as the Seller    (the  “Seller”),  Patterson  Companies,  Inc.  (“PDCo”),  as  the  Servicer  (the  “Servicer”),  Royal    Bank of Canada (“RBC”), as a Purchaser Agent (in such capacity, the “RBC Purchaser Agent”)    and  as  a  Financial  Institution,  and  Thunder  Bay  Funding,  LLC,  as  a  Conduit  (the  “RBC    Conduit”).                               PRELIMINARY STATEMENTS           A.    MUFG, as a Financial Institution and as a Purchaser Agent, the MUFG Conduit,    the Agent, RBC, as a Financial Institution and as a Purchaser Agent, the RBC Conduit, the Seller    and the Servicer are parties to that certain Third Amended and Restated Receivables Purchase    Agreement,  dated  as  of  December  3,  2010  (as  amended,  modified,  restated  or  otherwise    supplemented through the date hereof, the “Purchase Agreement”).           B.    Concurrently herewith, the parties hereto are entering into that certain Fourteenth    Amended and Restated Fee Letter (the “Amended Fee Letter”).           C.    Each  of  the  parties  hereto  desires  to  modify  the  Purchase  Agreement  upon  the    terms hereof.           NOW, THEREFORE, in consideration of the mutual agreements herein  contained, and    for  other  good  and  valuable  consideration,  the  receipt  and  sufficiency  of  which  are  hereby    acknowledged, the parties hereto hereby agree as follows:                                      AGREEMENT           SECTION 1.  Definitions.  Capitalized terms used and not otherwise defined herein are     used with the meanings set forth, or incorporated by reference, in the Purchase Agreement.               SECTION 2.  Amendments  to  the  Purchase  Agreement.   Exhibit  I  of  the  Purchase     Agreement is hereby amended as follows:                  (a)   The  definition  of  “Liquidity  Termination  Date”  is  hereby  amended  by           replacing the  date  “August 9,  2019”  where  it  appears  therein with  the  date  “August  7,           2020”.        733057974 10446458 

 

            (b)   Clause (ii) of the definition of “Net Portfolio Balance” is hereby amended        by  deleting  the  percentage  “7.5%”  where  it  appears  therein  and  substituting  the        percentage “10.0%” therefor.               (c)   Clause (iii) of the definition of “Net Portfolio Balance” is hereby amended        by  deleting  the  percentage  “1.5%”  where  it  appears  therein  and  substituting  the        percentage “0.5%” therefor.               (d)   Clause (iv) of the definition of “Net Portfolio Balance” is hereby amended        by  deleting  the  percentage  “2.0%”  where  it  appears  therein  and  substituting  the        percentage “0.5%” therefor.         SECTION 3.  Conditions  to  Effectiveness.   The  amendments  set  forth  above  shall  be  effective as of the date hereof upon the satisfaction of the following conditions precedent:         (a)   Execution  of  Amendment.   The  Agent  shall  have  received  counterparts  of  this  Amendment, duly executed by each of the parties hereto.         (b)   Execution of Amended Fee Letter.  The Agent shall have received counterparts of  the Amended Fee Letter, duly executed by each of the parties thereto.         (c)   Renewal Fee.  The Agent shall have received confirmation from each Purchaser  Agent that the “Renewal Fee” (as defined in the Amended Fee Letter) payable to such Purchaser  Agent under the Amended Fee Letter has been paid in full in accordance with the terms of the  Amended Fee Letter.         (d)   Monthly Report. The Agent shall have a pro forma Monthly Report prepared after  giving effect to the transactions contemplated by this Amendment.         (e)   Representations  and  Warranties.  As  of  the  date  hereof,  both  before  and  after  giving  effect  to  this  Amendment,  all  of  the  representations  and  warranties  contained  in  the  Purchase Agreement and in each other Transaction Document shall be true and correct as though  made on and as of the date hereof.         (f)   No Amortization Event or Potential  Amortization Event. As  of  the  date  hereof,  both  before  and  after  giving  effect  to  this  Amendment,  no  Amortization  Event  or  Potential  Amortization Event shall have occurred and be continuing.         SECTION 4.  Certain  Representations  and  Warranties.   Each  of  the  Seller  and  the  Servicer hereby represents and warrants to each of the other parties hereto that:          (a)   Both  before  and  after  giving  effect  to  this  Amendment,  all  of  its  respective  representations and warranties contained in the Purchase Agreement and each other Transaction  Document to which it is a party are true and correct as though made on and as of the date hereof.         (b)   The execution and delivery by it of this Amendment, and the performance of its  obligations under this Amendment, the Purchase Agreement (as amended hereby) and the other  Transaction Documents to which it is a party are within its corporate powers and have been duly   733057974 10446458                    2 

 

authorized  by  all  necessary  corporate  action  on  its  part,  and  this  Amendment,  the  Purchase  Agreement (as amended hereby) and the other Transaction Documents to which it is a party are  its valid and legally binding obligations, enforceable in accordance with its terms, subject to the  effect of bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement  of creditors’ rights generally.         (c)   No  Amortization  Event  or  Potential  Amortization  Event  has  occurred  and  is  continuing,  or  would  occur  as  a  result  of  this  Amendment  or  the  transactions  contemplated  hereby.         SECTION 5.  References  to  and  Effect  on  the  Purchase  Agreement  and  the  other  Transaction Documents.           (a)   From  and  after  the  effectiveness  of  this  Amendment,  each  reference  in  the  Purchase  Agreement  to  “this  Agreement”,  “hereof”,  “herein”,  “hereunder”  or  words  of  like  import,  and  each  reference  in  each  of  the  other  Transaction  Documents  to  the  “Receivables  Purchase Agreement”, “thereunder”, “thereof” or words of like import, in each case referring to  the Purchase Agreement, shall mean and be, a reference to the Purchase Agreement, as amended  hereby.         (b)   The Purchase  Agreement  (except  as  specifically  amended herein)  and  the  other  Transaction Documents are hereby ratified and confirmed in all respects by each of the parties  hereto and shall remain in full force and effect in accordance with its respective terms.         (c)   The execution, delivery and effectiveness of this Amendment shall not, except as  expressly provided herein, operate as a waiver of or amendment to, any right, power or remedy  of the Agent, any Conduit, any Financial Institution or any Purchaser Agent under, nor constitute  a waiver of or amendment to, any other provision or condition under, the Purchase Agreement or  any other Transaction Document.           SECTION 6.  Reaffirmation  of  Performance  Undertaking.   After  giving  effect  to  this  Amendment, all of the provisions of the Performance Undertaking shall remain in full force and  effect  and  the  Performance  Provider  hereby  ratifies  and  affirms  the  Performance  Undertaking  and  acknowledges  that  the  Performance  Undertaking  has  continued  and  shall  continue  in  full  force and effect in accordance with its terms.         SECTION 7.  Costs and Expenses.  Seller shall reimburse Agent, each Purchaser Agent  and  each  Conduit  on  demand  for  all  costs  and  out-of-pocket  expenses  in  connection  with  the  preparation,  negotiation,  arrangement,  execution,  delivery,  enforcement  and  administration  of  this Amendment, the transactions contemplated hereby and the other documents to be delivered  hereunder  or  in  connection  herewith,  including  reasonable  fees  and  out-of-pocket  expenses  of  legal counsel for any Conduit, any Purchaser Agent and/or Agent with respect thereto.    733057974 10446458                    3 

 

      SECTION 8.  Miscellaneous.            (a)   GOVERNING  LAW.   THIS  AMENDMENT  SHALL  BE  GOVERNED  BY,  AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF ILLINOIS.         (b)   JURISDICTION.  EACH  OF  THE  SELLER  AND  THE  SERVICER  HEREBY  IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED  STATES FEDERAL OR ILLINOIS STATE COURT SITTING  IN CHICAGO,  ILLINOIS  IN  ANY  ACTION  OR  PROCEEDING  ARISING  OUT  OF  OR  RELATING  TO  THIS  AMENDMENT  OR  ANY  DOCUMENT  EXECUTED  BY  SUCH  PERSON  PURSUANT  TO  THIS  AMENDMENT  AND  EACH  OF  THE  SELLER  AND  THE  SERVICER  HEREBY  IRREVOCABLY  AGREES  THAT  ALL  CLAIMS  IN  RESPECT  OF  SUCH  ACTION  OR  PROCEEDING  MAY  BE  HEARD  AND  DETERMINED  IN  ANY  SUCH  COURT  AND  IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS  TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH  A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM.         (c)   WAIVER  OF  JURY  TRIAL.   EACH  PARTY  HERETO  HEREBY  WAIVES  TRIAL  BY  JURY  IN  ANY  JUDICIAL  PROCEEDING  INVOLVING,  DIRECTLY  OR  INDIRECTLY,  ANY  MATTER  (WHETHER  SOUNDING  IN  TORT,  CONTRACT  OR  OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH  THIS AMENDMENT.         (d)   Transaction Documents.  This Amendment is a Transaction Document executed  pursuant  to  the  Purchase  Agreement  and  shall  be  construed,  administered  and  applied  in  accordance with the terms and provisions thereof.         (e)   Integration.   This  Amendment,  together  with  the  Purchase  Agreement,  contains  the final and complete integration of all prior expressions by the parties hereto with respect to the  subject  matter  hereof  and  shall  constitute  the  entire  agreement  among  the  parties  hereto  with  respect to the subject matter hereof superseding all prior oral or written understandings.           (f)   Severability.  If any one or more of the agreements, provisions or terms of this  Amendment  shall  for  any  reason  whatsoever  be  held  invalid  or  unenforceable,  then  such  agreements,  provisions  or  terms  shall  be  deemed  severable  from  the  remaining  agreements,  provisions and terms of this Amendment and shall in no way affect the validity or enforceability  of the provisions of this Amendment.           (g)   Counterparts.  This Amendment may be executed in any number of counterparts,  and  by  the  different  parties  hereto  on  separate  counterparts,  each  of  which  shall  constitute  an  original, but all together shall constitute one and the same agreement.  Delivery of an executed  counterpart  hereof  by  facsimile,  email  or  other  electronic  means  shall  be  deemed  to  be  an  original.         (h)   Headings.  The captions and headings of this Amendment are included herein for  convenience of reference only and shall not affect the interpretation of this Amendment.               [remainder of page intentionally left blank; signature pages follow]  733057974 10446458                    4 

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment by their duly  authorized officers as of the date first above written.                                       MUFG BANK, LTD.,                                      as the Agent                                       By:                                      Name:                                      Title:                                       MUFG BANK, LTD.,                                       as a Financial Institution                                       By:                                      Name:                                      Title:                                       MUFG BANK, LTD.,                                       as a Purchaser Agent                                       By:                                      Name:                                      Title:                                       VICTORY RECEIVABLES CORPORATION,                                      as a Conduit                                       By:                                      Name: hÉîáå=gK=`çêêáÖ~å                                     Title: sáÅÉ=mêÉëáÇÉåí   733057974 10446458                   S-1                  Amendment No. 15 to 3rd A&R RPA

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