Document:

EX-4.11

 Exhibit 4.11 
  

			
	 When Recorded Return To:
  

Haynes and Boone, LLP
 112 East Pecan Street, Suite 900

San Antonio, Texas 78205
 Attention: Steven A. Waters
	  	TO BE FILED IN THE OFFICE OF THE SECRETARY
OF STATE OF THE STATE OF TEXAS

 Recorder’s Use 

 
 DEED OF TRUST, SECURITY AGREEMENT
AND FIXTURE FILING 
 by 

ONCOR ELECTRIC DELIVERY COMPANY LLC, 

as Grantor 
 to and for
the benefit of 
 THE BANK OF NEW YORK, 

as Collateral Agent 

Dated as of May 15, 2008 

THIS INSTRUMENT GRANTS A SECURITY INTEREST BY A UTILITY. 

THIS INSTRUMENT CONTAINS AFTER-ACQUIRED PROPERTY PROVISIONS. 

 TABLE OF CONTENTS 

 

									
	1.    	 	DEFINITIONS	  	 	7	  
			
	2.	 	GRANT	  	 	20	  
			
	3.	 	WARRANTIES, REPRESENTATIONS AND COVENANTS	  	 	21	  
		 	3.1    	 	Title to Mortgaged Property and Lien of this Instrument	  	 	21	  
		 	3.2	 	Preservation of Lien	  	 	21	  
		 	3.3	 	Maintenance of Properties	  	 	21	  
		 	3.4	 	Payment of Taxes; Discharge of Liens	  	 	22	  
		 	3.5	 	Insurance	  	 	22	  
		 	3.6	 	Transfer Restrictions	  	 	25	  
		 	3.7	 	Further Assurances	  	 	25	  
			
	4.	 	LIMITATION ON AMOUNT OBLIGATED	  	 	25	  
			
	5.	 	EXTENSION, RELEASE, ETC	  	 	25	  
			
	6.	 	NOTICES	  	 	26	  
			
	7.	 	MODIFICATIONS	  	 	27	  
		 	7.1	 	Amendments Without Consent of Holders of Obligations	  	 	27	  
		 	7.2	 	Amendments With Consent of Holders of Obligations	  	 	28	  
		 	7.3	 	Limitation on Certain Amendments	  	 	29	  

  
 i 

							
	8.    	 	PARTIAL INVALIDITY	  	29
			
	9.	 	REMEDIES NOT EXCLUSIVE	  	29
			
	10.	 	SUCCESSORS AND ASSIGNS	  	30
			
	11.	 	NO WAIVERS, ETC.	  	30
			
	12.	 	GOVERNING LAW, ETC.	  	30
			
	13.	 	DUTY OF COLLATERAL AGENT; AUTHORITY OF COLLATERAL AGENT	  	31
			
	14.	 	RIGHTS OF COLLATERAL AGENT	  	32
			
	15.	 	LACK OF RELIANCE BY COLLATERAL AGENT	  	35
			
	16.	 	INDEMNIFICATION OF COLLATERAL AGENT	  	36
			
	17.	 	RESIGNATION OR REMOVAL OF COLLATERAL AGENT	  	36
			
	18.	 	APPOINTMENT OF CO-COLLATERAL AGENT	  	37
			
	19.	 	ENFORCEMENT EXPENSES; INDEMNIFICATION	  	38
			
	20.	 	RELEASE RIGHTS	  	39
		 	20.1    	 	Dispositions without Release	  	39
		 	20.2	 	Release of Funded Mortgaged Property	  	39
		 	20.3	 	Release of Mortgaged Property Not Constituting Funded Property	  	43
		 	20.4	 	Release of Minor Properties	  	44
		 	20.5	 	Release of Property Taken by Eminent Domain, etc	  	45
		 	20.6	 	Disclaimer or Quitclaim	  	45
		 	20.7	 	Other Releases	  	45
		 	20.8	 	Full Release	  	45
		 	20.9	 	Miscellaneous	  	46
			
	21.	 	WITHDRAWAL OR OTHER APPLICATION OF FUNDED CASH; PURCHASE MONEY OBLIGATIONS	  	47
			
	22.	 	SECURING ADDITIONAL OBLIGATIONS	  	50
		 	22.1	 	General	  	50
		 	22.2	 	Securing Additional Obligations on the Basis of Property Additions.	  	50
		 	22.3	 	Securing Additional Obligations on the Basis of Available Bond Credits.	  	52
		 	22.4	 	Securing Additional Obligations on the Basis of Deposit of Cash.	  	52

  
 ii 

					
	23.  	  	REMEDIES	  	53
			
	24.	  	RECEIVER AND OTHER REMEDIES	  	58
			
	25.	  	COMPLIANCE CERTIFICATES AND OPINIONS	  	58
			
	26.	  	FORM OF DOCUMENTS DELIVERED TO COLLATERAL AGENT	  	59
			
	27.	  	INDEMNIFICATION OF COLLATERAL AGENT	  	60
			
	28.	  	ACCEPTANCE BY COLLATERAL AGENT	  	60
			
	29.	  	AGREEMENT FOR BENEFIT OF PARTIES HERETO	  	61
			
	30.	  	FINAL AGREEMENT OF THE PARTIES	  	61
		
	Exhibit A: Legal Description	  	

  
 iii 

 INDEX OF DEFINED TERMS 

 

					
	Additional Obligations	  	 	2	  
	Administrative Agent	  	 	1	  
	Affiliate	  	 	2	  
	appraiser	  	 	6	  
	Authorized Officer	  	 	2	  
	Authorized Purposes	  	 	2	  
	Available Bond Credits	  	 	2	  
	Board of Directors	  	 	3	  
	Capitalized Lease Liabilities	  	 	3	  
	Collateral Agent	  	 	1, 31	  
	Corporate Trust Office	  	 	3	  
	Cost	  	 	3	  
	Credit Agreement	  	 	1	  
	Credit Agreement Event of Default	  	 	4	  
	Credit Agreement Obligations	  	 	4	  
	Credit Agreement Secured Parties	  	 	4	  
	Credit Documents	  	 	4	  
	Debt	  	 	4	  
	Deed of Trust	  	 	1	  
	Deed of Trust Obligations	  	 	5	  
	DOT Trustee	  	 	5	  
	Enforcement Action	  	 	5	  
	engineer	  	 	6	  
	Event of Default	  	 	5	  
	Excepted Property	  	 	5	  
	Execution Date	  	 	1	  
	Expert	  	 	6	  
	Expert’s Certificate	  	 	6	  
	Fair Value	  	 	7	  
	First Indenture	  	 	1	  
	Fraudulent Transfer Laws	  	 	20	  
	Funded Cash	  	 	7	  
	Funded Property	  	 	7	  
	Government Obligations	  	 	8	  
	Governmental Authority	  	 	8	  
	Grantor	  	 	1	  
	Grantor Order	  	 	8	  
	Indenture Notes	  	 	2	  
	Indenture Notes Event of Default	  	 	9	  
	Indenture Notes Obligations	  	 	9	  
	Indenture Notes Secured Parties	  	 	9	  
	Indenture Trustees	  	 	9	  
	Indentures	  	 	1, 9	  
	Independent	  	 	9	  

  
 iv 

					
	Investment Securities	  	 	9	  
	Lender	  	 	1	  
	Lenders	  	 	1	  
	Lien	  	 	10	  
	Material Adverse Effect	  	 	10	  
	Minimum Sale Price	  	 	49	  
	Mortgaged Property	  	 	10	  
	Obligations	  	 	11	  
	Officer’s Certificate	  	 	11	  
	Opinion of Counsel	  	 	11	  
	Outstanding	  	 	11	  
	Permitted Liens	  	 	12	  
	Person	  	 	12	  
	Property Additions	  	 	12	  
	PUC	  	 	48	  
	Purchase Money Lien	  	 	13	  
	Qualified Bidder	  	 	49	  
	Required Secured Parties	  	 	14	  
	Responsible Officer	  	 	14	  
	Second Indenture	  	 	1	  
	Secured Parties	  	 	14	  
	Secured Party Certificate	  	 	14	  
	Secured Party Officer	  	 	15	  
	Secured Party Representative	  	 	15	  
	Trust Indenture Act	  	 	23	  
	UCC	  	 	15	  
	United States	  	 	15	  

  
 v 

 DEED OF TRUST, 

SECURITY AGREEMENT AND FIXTURE FILING 

THIS DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING (this “Deed of Trust”) executed to be effective as of
May 15, 2008 (the “Execution Date”), by ONCOR ELECTRIC DELIVERY COMPANY LLC, a Delaware limited liability company (formerly TXU Electric Delivery Company, formerly Oncor Electric Delivery Company)
(“Grantor”), having an organizational identification number of 4435668 and an office at Energy Plaza, 1601 Bryan Street, Dallas, Texas 75201, Attention: Treasurer, to and for the benefit of THE BANK OF NEW YORK, a New
York banking corporation, as Collateral Agent and Trustee under this Deed of Trust (“Collateral Agent” and “DOT Trustee”), whose address is The Bank of New York, c/o Corporate Trust Administration, 101
Barclay Street, Floor 8W, New York, New York 10286. 
 RECITALS: 

A. Grantor, the lending institutions from time to time parties thereto (each a “Lender” and collectively, the
“Lenders”), JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, “Administrative Agent”), Fronting Bank and Swingline Lender, CITIBANK, N.A., as Syndication Agent and Fronting Bank,
JPMORGAN SECURITIES INC., CREDIT SUISSE SECURITIES (USA), LLC, CITIGROUP GLOBAL MARKETS INC., GOLDMAN SACHS CREDIT PARTNERS L.P., LEHMAN BROTHERS, INC. and MORGAN STANLEY SENIOR FUNDING INC., as Joint Lead Arrangers and Bookrunners, and CREDIT
SUISSE, CAYMAN ISLANDS BRANCH, GOLDMAN SACHS CREDIT PARTNERS LP., LEHMAN COMMERCIAL PAPER INC. and MORGAN STANLEY SENIOR FUNDING, INC., as Co-Documentation Agents, have entered into that Revolving Credit Agreement dated as of October 10, 2007
(as amended, amended and restated, extended or otherwise modified from time to time, the “Credit Agreement”), pursuant to which the Lenders have severally agreed to make loans and extend credit to Grantor upon the terms and
subject to the conditions set forth therein; 
 B. Grantor entered into (1) that Indenture and Deed of Trust dated as of May 1,
2002, between Grantor and The Bank of New York, as Trustee (as supplemented, amended, amended and restated or otherwise modified from time to time, the “First Indenture”) under which Grantor has issued (a) $700,000,000
aggregate principal amount 6.375% Fixed Senior Notes due 2012, (b) $500,000,000 aggregate principal amount 7.00% Fixed Senior Notes due 2032, (c) $500,000,000 aggregate principal amount 6.375% Fixed Senior Notes due 2015, and
(d) $350,000,000 aggregate principal amount 7.25% Fixed Senior Notes due 2033, and (2) that Indenture (for Unsecured Debt Securities) dated as of August 1, 2002 between Grantor and The Bank of New York, as Trustee (as supplemented,
amended, amended and restated or otherwise modified from time to time, the “Second Indenture; the First Indenture and the Second Indenture being herein together called the “Indentures”), under which Grantor
has issued $800,000,000 aggregate principal amount 7.0% Fixed Debentures, due 2022 (such Fixed Senior Notes and such Fixed Debentures, as supplemented, amended, amended and restated or otherwise modified from time to time, together with all notes,
debentures and other securities that may from time to time be issued under the Indentures, being herein called the “Indenture Notes”); and 

  
 6 

 C. In satisfaction of conditions in the First Indenture and the Second Indenture for the securing
of indebtedness and obligations under the Credit Agreement, and in order to secure the Indenture Notes and to secure the indebtedness and obligations under the Credit Agreement and the Indenture Notes on an equal and ratable basis, Grantor is
executing and delivering this Deed of Trust on the following terms and conditions: 
 AGREEMENT: 

NOW, THEREFORE, in consideration of the premises, and to induce the Lenders to enter into and perform in accordance with the Credit Agreement,
and to satisfy requirements for the securing of obligations under the Credit Agreement as set forth in the First Indenture and the Second Indenture, Grantor agrees with Collateral Agent, for the ratable benefit of the Secured Parties, as follows:

  

	1.	DEFINITIONS 

 As used herein, the following terms shall have the following meanings: 

“Additional Obligations” means any Debt that the Grantor elects to secure from time to time by this Deed of Trust by
compliance with the applicable provisions of Section 22 hereof. Additional Obligations may be, but need not be, debt securities issued under one of the Indentures, but excluding any additional amount based on future unaccrued interest. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or
under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct generally the management and policies of such
Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Authorized Officer” means the Chairman of the Board, the Vice Chairman, the President, any Vice President, the
Treasurer, any Assistant Treasurer, or any other officer, manager or agent of Grantor duly authorized pursuant to a resolution of the Board of Directors to act in respect of matters relating to this Deed of Trust. 

“Authorized Purposes” means securing Additional Obligations, the release of property and/or the withdrawal of cash
under any of the provisions of this Deed of Trust. 
 “Available Bond Credits” as of Execution Date equals
$7,760,464,240. Thereafter, Available Bond Credits shall be (a) increased by the principal amount of Obligations (other than Deed of Trust Obligations) paid, retired or cancelled or for the payment of which money has been deposited with the
applicable Secured Party Representative, and (b) decreased by the principal amount of Additional Obligations secured pursuant to Section 22 hereof. 

  
 7 

 “Board of Directors” means either the board of directors, board of
managers or similar governing body of Grantor or any committee thereof duly authorized to act in respect of matters relating to this Deed of Trust. 

“Capitalized Lease Liabilities” means the amount, if any, shown as liabilities on Grantor’s unconsolidated
balance sheet for capitalized leases of electric transmission and distribution property not owned by Grantor, which amount shall be determined in accordance with generally accepted accounting principles and practices applicable to the type of
business in which Grantor is engaged. 
 “Collateral Agent” has the meaning given to it in the preamble and is the
same party described as the DOT Trustee, with the power to exercise all rights given herein to the DOT Trustee. When the Collateral Agent is performing the functions of the DOT Trustee under this Deed of Trust, as permitted by Texas law, references
to “Collateral Agent” as to those functions are to its status as the DOT Trustee. 
 “Corporate Trust
Office” means the office of the Collateral Agent at which at any particular time its corporate trust or agency business shall be principally administered, which office at the date of the execution of this instrument is located at 101
Barclay Street, 8W, New York, New York 10286, Attention: Corporate Trust Department, or such other address as the Collateral Agent may designate from time to time by notice to Grantor and the Secured Party Representatives, or the principal corporate
trust office of any successor Collateral Agent (or such other address as such successor Collateral Agent may designate from time to time by notice to Grantor and the Secured Party Representatives). 

“Cost” with respect to Property Additions (except as otherwise provided in Section 20.2), shall mean the sum of
(i) any cash delivered in payment therefor or for the acquisition thereof, (ii) an amount equivalent to the fair market value in cash (as of the date of delivery) of any securities or other property delivered in payment therefor or for the
acquisition thereof, (iii) the principal amount of any obligations secured by prior Lien upon such Property Additions outstanding at the time of the acquisition thereof, (iv) the principal amount of any other obligations incurred or
assumed in connection with the payment for such Property Additions or for the acquisition thereof, and (v) any other amounts which, in accordance with generally accepted accounting principles, are properly charged or chargeable to the plant or
other property accounts of Grantor with respect to such Property Additions as part of the cost of construction or acquisition thereof, including, but not limited to, any allowance for funds used during construction or any similar or analogous
amount; provided, however, that, notwithstanding any other provision of this Deed of Trust, 
 (a) with respect to Property
Additions owned by a successor corporation immediately prior to the time it shall have become such by consolidation or merger or acquired by a successor corporation in or as a result of a consolidation or merger (excluding, in any case, Property
Additions owned by Grantor immediately prior to such time), Cost shall mean the amount or amounts at which such Property Additions are recorded in the plant or other property accounts of such successor corporation, or the predecessor corporation
from which such Property Additions are acquired, as the case may be, immediately prior to such consolidation or merger; 

  
 8 

 (b) with respect to Property Additions which shall have been acquired (otherwise
than by construction) by Grantor without any consideration consisting of cash, securities or other property or the incurring or assumption of indebtedness, no determination of Cost shall be required, and, wherever in this Deed of Trust provision is
made for Cost or Fair Value, Cost with respect to such Property Additions shall mean an amount equal to the Fair Value to Grantor thereof or, if greater, the aggregate amount reflected in Grantor’s books of account with respect thereto upon the
acquisition thereof; and 
 (c) in no event shall the Cost of Property Additions be required to reflect any depreciation or
amortization in respect of such Property Additions, or any adjustment to the amount or amounts at which such Property Additions are recorded in plant or other property accounts due to the non-recoverability of investment or otherwise. 

If any Property Additions are shown by the Expert’s Certificate provided for in Section 22.2(b)(ii) to include property which has
been used or operated by Person(s) other than Grantor in a business similar to that in which it has been or is to be used or operated by Grantor, the Cost thereof need not be reduced by any amount in respect of any goodwill, going concern value
rights and/or intangible property simultaneously acquired for which no separate or distinct consideration shall have been paid or apportioned, and in such case the term Property Additions as defined herein may include such goodwill, going concern
value rights and intangible property. 
 “Credit Agreement Event of Default” means any “Event of Default,”
as defined in the Credit Agreement. 
 “Credit Agreement Obligations” means the “Obligations” as defined
in the Credit Agreement, but excluding any additional amount based on future unaccrued interest. 
 “Credit Agreement Secured
Parties” means the “Secured Parties,” as defined in the Credit Agreement. 
 “Credit
Documents” has the meaning given to it in the Credit Agreement. 
 “Debt” with respect to any Person,
means (A) indebtedness of such Person for borrowed money evidenced by a bond, debenture, note or other written instrument or agreement by which such Person is obligated to repay such borrowed money, (B) any guaranty by such Person of any
such indebtedness of another Person, and (C) any Capitalized Lease Liabilities of Grantor. “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 obligation (including obligations under power or other commodity purchase agreements and any hedges or derivatives associated
therewith), or other obligations of such Person in the ordinary course of business, (y) obligations of such Person under any lease agreement that are not Capitalized Lease Liabilities, or (z) any Liens securing indebtedness, neither
assumed nor guaranteed by Grantor nor on which it customarily pays interest, existing upon real estate or rights in or relating to real estate acquired by Grantor for substation, transmission line, transportation line, distribution line or
right-of-way purposes. 

  
 9 

 “Deed of Trust Obligations” means the collective reference to the due and
punctual payment of all monetary obligations of Grantor to the Collateral Agent under this Deed of Trust and all monetary obligations of Grantor to Collateral Agent and each Secured Party under Section 19, including fees, costs, expenses and
indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any proceeding under the Bankruptcy Code or any applicable provision of comparable state or foreign law,
whether or not such interest is an allowed claim in such proceeding) under this Deed of Trust and under any other agreement relating thereto, but excluding the principal of, and the premium, if any, and interest on the indebtedness created or
evidenced by the Indenture Notes and the Credit Documents. 
 “DOT Trustee” has the meaning given to it in the
preamble and includes all substitute trustees appointed in conformity with applicable law. 
 “Enforcement Action”
means any action or proceeding by the Collateral Agent, on behalf of one or more of the Secured Parties against Grantor or with respect to all or any part of the Mortgaged Property taken for the purpose of (i) enforcing the rights of any
Secured Party under or in respect of the Mortgaged Property or this Deed of Trust, including, without limitation, the initiation of action in any court or before any administrative agency or governmental tribunal to enforce such rights or the
prosecution of non-judicial remedies available pursuant to the terms of this Deed of Trust or under applicable law, including directing the Collateral Agent to take any action provided for in this Deed of Trust or by applicable law, and
(ii) adjudicating or seeking a judgment on a claim. 
 “Event of Default” means any Credit Agreement Event of
Default or any Indenture Notes Event of Default, or any event of default (however named), determined after all applicable notices have been given and all applicable grace periods have expired, with respect to Additional Obligations. 

“Excepted Property” means (a) all cash on hand or in banks or other financial institutions, deposit accounts,
securities accounts, shares of stock, interests in business trusts, general or limited partnerships or limited liability companies, bonds, notes, other evidences of indebtedness and other securities, security entitlements and investment property, of
whatsoever kind and nature in which Grantor holds an interest; (b) all contracts, leases, operating agreements and other agreements of whatsoever kind and nature; all contract rights, bills, notes and other instruments and chattel paper (except
to the extent that any of the same constitute securities, security entitlements or investment property, in which case they are separately excepted from this Deed of Trust under clause (a) above); all revenues, income and earnings, all accounts,
accounts receivable, rights to payment, payment intangibles and unbilled revenues, transition property, and all rents, tolls, issues, product and profits, claims, credits, demands and judgments; all governmental and other licenses, permits,
franchises, consents and allowances; and all patents, patent licenses and other patent rights, patent applications, trade names, trademarks, copyrights and other intellectual property; and all claims, credits, choses in action, commercial tort
claims and other intangible property and general intangibles including, but not limited to, computer software; (c) all automobiles, buses, trucks, truck cranes, tractors, trailers and similar vehicles and movable equipment; all rolling stock,
rail cars and other railroad equipment; all vessels, boats, barges, and other marine equipment; all airplanes, helicopters, aircraft engines and 

  
 10 

 other flight equipment; all parts, accessories and supplies used in connection with any of the foregoing; and all
personal property of such character that the perfection of a security interest therein is not governed by the UCC as in effect in the jurisdiction in which such property is located; (d) all goods, stock in trade, wares, merchandise and
inventory held for the purpose of sale or lease in the ordinary course of business; all materials, supplies, inventory and other items of personal property which are consumable (otherwise than by ordinary wear and tear) in their use in the operation
of the Mortgaged Property; (e) all fuel, including nuclear fuel, whether or not any such fuel is in a form consumable in the operation of the Mortgaged Property, including separate components of any fuel in the forms in which such components
exist at any time before, during or after the period of the use thereof as fuel; all hand and other portable tools and equipment; all furniture and furnishings; and computers and data processing, data storage, data transmission, telecommunications
and other facilities, equipment and apparatus, which, in any case, are used primarily for administrative or clerical purposes or are otherwise not necessary for the operation or maintenance of the facilities, machinery, equipment or fixtures that
are part of the Mortgaged Property; (f) all coal, lignite, ore, gas, oil and other minerals and all timber, and all rights and interests in any of the foregoing, whether or not such minerals or timber shall have been mined or extracted or
otherwise separated from the land; and all electric energy and capacity, gas (natural or artificial), steam, water and other products generated, produced, manufactured, purchased or otherwise acquired by Grantor; (g) all real property,
leaseholds, gas rights, wells, gathering, tap or other pipe lines, or facilities, equipment or apparatus, in any case used or to be used primarily for the production or gathering of natural gas; (h) all property which is the subject of a lease
agreement designating Grantor as lessee and all right, title and interest of Grantor in and to such property and in, to and under such lease agreement, whether or not such lease agreement is intended as security; (i) all property, real,
personal and mixed, which subsequent to the Execution Date, has been released from this Deed of Trust, and any improvements, extensions and additions to such properties and renewals, replacements and substitutions of or for any parts thereof;
(j) all property located outside of the State of Texas; (k) any and all property and plants used by Grantor in the generation of electricity; and (l) all property not acquired or constructed by Grantor for use in its electric
transmission and distribution business. 
 “Expert” means a Person which is an engineer, appraiser or other expert
and which, with respect to any certificate to be signed by such Person and delivered to Collateral Agent, is qualified to pass upon the matters set forth in such certificate. For purposes of this definition,
(a) “engineer” means a Person engaged in the engineering profession or otherwise qualified to pass upon engineering matters (including, but not limited to, a Person licensed as a professional engineer, whether or not
then engaged in the engineering profession) and (b) “appraiser” means a Person engaged in the business of appraising property or otherwise qualified to pass upon the Fair Value or fair market value of property. 

“Expert’s Certificate” means a certificate signed by an Authorized Officer and by an Expert (which Expert
(a) shall be selected either by the Board of Directors or by an Authorized Officer, the execution of such certificate by such Authorized Officer to be conclusive evidence of such selection, and (b) except as otherwise required in Sections
20.8 or 22.2, may be an employee or Affiliate of Grantor) and delivered to Collateral Agent. The amount stated in any Expert’s Certificate as to the Cost, Fair Value or fair market value of property shall be conclusive and binding upon Grantor,
Collateral Agent and the holders of Outstanding Obligations. 

  
 11 

 “Fair Value” with respect to property, means the fair value of such
property as may be determined by reference to (a) the amount which would be likely to be obtained in an arm’s-length transaction with respect to such property between an informed and willing buyer and an informed and willing seller, under
no compulsion, respectively, to buy or sell, (b) the amount of investment with respect to such property which, together with a reasonable return thereon, would be likely to be recovered through ordinary business operations or otherwise,
(c) the Cost, accumulated depreciation, and replacement cost with respect to such property and/or (d) any other relevant factors; provided, however, that (x) the Fair Value of property shall be determined without deduction for any
Liens on such property prior to the Lien of this Deed of Trust (except as otherwise provided in Section 20.2) and (y) the Fair Value to Grantor of Property Additions may be of less value to a Person which is not the owner or operator of
the Mortgaged Property or any portion thereof than to a Person which is such owner or operator. Fair Value may be determined, without physical inspection, by the use of accounting and engineering records and other data maintained by Grantor or
otherwise available to the Expert certifying the same. 
 “Funded Cash” means 

(a) cash, held by Collateral Agent hereunder deposited in connection with the release of Funded Property pursuant to
Section 20, or the payment of the principal of, or the proceeds of the release of, obligations secured by Purchase Money Lien and delivered to Collateral Agent pursuant to Section 20, subject, however to Section 21, and 

(b) any cash deposited with Collateral Agent as the basis for securing Additional Obligations under Section 22.4. 

“Funded Property” means: 

(a) all Property Additions to the extent that the same shall have been made the basis of the release of other Funded Property
from the Lien of this Deed of Trust pursuant to Section 20.2; 
 (b) all Property Additions to the extent that the same
shall have been substituted for Funded Property retired pursuant to the definition of Property Additions; 
 (c) all Property
Additions to the extent that the same shall have been made the basis of the withdrawal of cash held by Collateral Agent pursuant to Sections 21 or 22.4; 

(d) all Property Additions to the extent that the same shall have been made the basis of the securing of Additional Obligations
pursuant to Section 22.2; and 
 (e) all Mortgaged Property acquired by Grantor on or before December 31, 2007.

 In the event that in any certificate filed with Collateral Agent in connection with any of the Property Additions referred to in clauses
(a), (c) and (d) of this Section, only a part of the Cost or Fair Value of the Property Additions described in such certificate shall be required for the purposes of such certificate, then such Property Additions shall be deemed to be
Funded Property only to the extent so required for the purpose of such certificate. 

  
 12 

 All Funded Property that shall be abandoned, destroyed, released or otherwise disposed of shall,
for the purpose of the definition of Property Additions herein, be deemed retired Funded Property, and for other purposes of this Deed of Trust shall thereupon cease to be Funded Property, but as in this Deed of Trust provided may at any time
thereafter again become Funded Property. Neither any reduction in the Cost or book value of property recorded in the plant account of Grantor, nor the transfer of any amount appearing in such account to intangible and/or adjustment accounts,
otherwise than in connection with actual retirements of physical property abandoned, destroyed, released or disposed of, and otherwise than in connection with the removal of such property in its entirety from plant account, shall be deemed to
constitute a retirement of Funded Property. 
 Grantor may make allocations, on a pro-rata or other reasonable basis (including, but not
limited to, the designation of specific properties or the designation of all or a specified portion of the properties reflected in one or more generic accounts or subaccounts in Grantor’s books of account), for the purpose of determining the
extent to which fungible properties, or other properties not otherwise identified, reflected in the same generic account or subaccount in Grantor’s books of account, constitute Funded Property or Funded Property retired. 

“Governmental Authority” means the government of the United States or of any State or Territory thereof or of the
District of Columbia or of any country, municipality or other political subdivision of any thereof, or any department, agency, authority or other instrumentality of any of the foregoing. 

“Government Obligations” means securities which are (a) (i) direct obligations of the United States where
the payment or payments thereunder are supported by the full faith and credit of the United States or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States where the timely
payment or payments thereunder are unconditionally guaranteed as a full faith and credit obligation by the United States or (b) depository receipts issued by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended,
which may include Collateral Agent) as custodian with respect to any such Government Obligation or a specific payment of interest on or principal of or other amount with respect to any such Government Obligation held by such custodian for the
account of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the
custodian in respect of the Government Obligation or the specific payment of interest on or principal of or other amount with respect to the Government Obligation evidenced by such depository receipt. 

“Grantor Order” means a written order or request signed in the name of Grantor by an Authorized Officer and delivered
to Collateral Agent. 
 “Indenture Notes” has the meaning given to it in Recital B. 

  
 13 

 “Indenture Notes Event of Default” means any “Event of
Default,” as defined in either of the Indentures. 
 “Indenture Notes Obligations” means the collective
reference to the due and punctual payment of (i) the principal of and premium, if any, and accrued interest at the applicable rate provided in the Indentures and the Indenture Notes (including interest at the contract rate applicable upon
default accrued or accruing after the commencement of any proceeding, under the Bankruptcy Code or any applicable provision of comparable state or foreign law, whether or not such interest is an allowed claim in such proceeding), when and as due,
whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or
otherwise (including monetary obligations incurred during the pendency of any proceeding under the Bankruptcy Code or any applicable provision of comparable state or foreign law, whether or not such interest is an allowed claim in such proceeding),
of Grantor to any of the Indenture Notes Secured Parties under the Indentures and the Indenture Notes, but excluding any additional amount based on future unaccrued interest. 

“Indenture Notes Secured Parties” means the holders of the Indenture Notes and the Indenture Trustees. 

“Indenture Trustees” shall mean the trustees under the Indentures, and their successors and assigns. 

“Indentures” has the same meaning assigned to such term in Recital B of this Deed of Trust. 

“Independent”, when applied to any Expert, means such a Person who (a) is in fact independent, (b) does not
have any direct material financial interest in Grantor or in any other obligor upon the Obligations or in any Affiliate of Grantor or of such other obligor, and (c) is not connected with Grantor or such other obligor as an officer, employee,
promoter, underwriter, trustee, partner, director or any person performing similar functions. 
 “Investment
Securities” means any of the following obligations or securities on which neither Grantor, any other obligor on the Obligations nor any Affiliate of either is the obligor: (a) Government Obligations; (b) interest-bearing
deposit accounts (which may be represented by certificates of deposit) in any national or state bank (which may include Collateral Agent) or savings and loan association which has outstanding securities rated by a nationally recognized rating
organization in either of the two (2) highest rating categories (without regard to modifiers) for short term securities or in any of the three (3) highest rating categories (without regard to modifiers) for long term securities;
(c) bankers’ acceptances drawn on and accepted by any commercial bank (which may include Collateral Agent) which has outstanding securities rated by a nationally recognized rating organization in either of the two (2) highest rating
categories (without regard to modifiers) for short term securities or in any of the three (3) highest rating categories (without regard to modifiers) for long term securities; (d) direct obligations of, or obligations the principal of and
interest on which are unconditionally guaranteed by, any State or Territory of the United States or the District of Columbia, or any political subdivision of any of the foregoing, which are rated by a nationally recognized rating organization in
either of the two 

  
 14 

 
(2) highest rating categories (without regard to modifiers) for short term securities or in any of the three (3) highest rating categories (without regard to modifiers) for long term
securities; (e) bonds or other obligations of any agency or instrumentality of the United States; (f) corporate debt securities which are rated by a nationally recognized rating organization in either of the two (2) highest rating
categories (without regard to modifiers) for short term securities or in any of the three (3) highest rating categories (without regard to modifiers) for long term securities; (g) repurchase agreements with respect to any of the foregoing
obligations or securities with any banking or financial institution (which may include Collateral Agent) which has outstanding securities rated by a nationally recognized rating organization in either of the two (2) highest rating categories
(without regard to modifiers) for short-term securities or in any of the three (3) highest rating categories (without regard to modifiers) for long term securities; and (h) securities issued by any regulated investment company (including
any investment company for which Collateral Agent is the advisor), as defined in Section 851 of the Internal Revenue Code of 1986, as amended, or any successor section of such Code or successor federal statute, provided that the portfolio of
such investment company is limited to obligations or securities of the character and investment quality contemplated in clauses (a) through (f) above and repurchase agreements which are fully collateralized by any of such obligations or
securities. 
 “Lien” means any mortgage, deed of trust, pledge, security interest, encumbrance, easement, lease,
reservation, restriction, servitude, charge or similar right and any other lien of any kind, including, without limitation, any conditional sale or other title retention agreement, any lease in the nature thereof, and any defect irregularity,
exception or limitation in record title. 
 “Material Adverse Effect” means any circumstances or conditions
affecting the business, assets, operations, properties or financial condition of Grantor, taken as a whole, that would, individually or in the aggregate, materially adversely affect (a) the ability of Grantor to perform its payment obligations
under the Credit Agreement, the other Credit Documents, the Indenture Notes and the Indentures and the terms of any Additional Obligations, or (b) the rights and remedies of Collateral Agent under this Deed of Trust. 

“Mortgaged Property” means all right, title and interest of Grantor, in and to the following property, real, personal
and mixed, wherever located (other than Excepted Property): 
 (a) Existing Property. All right, title and interest of
Grantor, as of the Execution Date, in and to all property, real, personal and mixed, wherever located (other than Excepted Property), including, without limitation, all right, title and interest of Grantor in and to the following property so located
(other than Excepted Property): 
 (1) all real property owned in fee, easements and other interests in real property which
are specifically described or referred to in Exhibit A attached hereto and incorporated herein by this reference; 

(2) all facilities, machinery, equipment and fixtures for the transmission and distribution of electric energy including, but
not limited to, all switchyards, towers, substations, transformers, poles, lines, cables, conduits, ducts, conductors, meters, regulators and all other property used or to be used for any or all of such purposes; 

  
 15 

 (3) all buildings, offices, warehouses, structures or improvements in addition to
those referred to or otherwise included in items (1) and (2) above; 
 (4) all computers, data processing, data
storage, data transmission and/or telecommunications facilities, equipment and apparatus necessary for the operation or maintenance of any facilities, machinery, equipment or fixtures described or referred to in item (2) above; and 

(5) all of the foregoing property in the process of construction; 

(b) After-Acquired Property. Subject to the applicable exceptions set forth in Section 20.9(d) of this Deed of
Trust relating to interests retained by Grantor in property released from this Deed of Trust, in Section 1203 of the First Indenture relating to property owned by a successor company after a merger by Grantor, and in Section 1205 of the
First Indenture relating to property owned by Grantor as the result of the merger or consolidation of another entity into Grantor (which exceptions apply hereunder to the interests of each Lender and the holders of the Indenture Notes), all right,
title and interest of Grantor in all property, real, personal and mixed, wherever located (other than Excepted Property) which may be hereafter acquired by Grantor, it being the intention of Grantor that all such property acquired by Grantor after
the Execution Date shall be as fully embraced within and subjected to this Deed of Trust as if such property were owned by Grantor as of the Execution Date; and 

(c) Excepted Property Subjected to this Deed of Trust. Any Excepted Property, which may, from time to time after the
Execution Date, by delivery or by an instrument supplemental to this Deed of Trust, be subjected to this Deed of Trust by Grantor, Collateral Agent being hereby authorized to receive the same at any time as additional security hereunder; it being
understood that any such subjection to this Deed of Trust hereof of any Excepted Property as additional security may be made subject to such reservations, limitations or conditions respecting the use and disposition of such property or the proceeds
thereof as shall be set forth in such instrument. 
 “Obligations” means, collectively, the Credit Agreement
Obligations, the Indenture Notes Obligations, the Additional Obligations, if any, and the Deed of Trust Obligations. 

“Officer’s Certificate” means a certificate of Grantor signed by an Authorized Officer of Grantor and delivered
to Collateral Agent. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for Grantor, and
who shall be acceptable to Collateral Agent. 
 “Outstanding”, when used with respect to Obligations, means, as of
the date of determination, all Obligations secured by this Deed of Trust, except Obligations theretofore paid, canceled or delivered for cancellation or Obligations for the payment of which cash has been deposited with the appropriate Secured Party
Representative; provided, however, that in determining whether or not the holders of the requisite principal amount of the Outstanding Obligations have given any request, demand, authorization, direction, notice, consent or waiver hereunder or
whether or not a quorum is present at a meeting of holders of Obligations, 

  
 16 

 
Obligations owned by Grantor or any other obligor upon the Obligations or any Affiliate of Grantor or of such other obligor (unless Grantor, such Affiliate or such obligor owns all Outstanding
Obligations, or all Outstanding Obligations of each such series, as the case may be, determined without regard to this clause) shall be disregarded and deemed not to be Outstanding, except that, in determining whether Collateral Agent shall be
protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver or upon any such determination as to the presence of a quorum, only Obligations which the Responsible Officer of Collateral Agent actually knows
to be so owned shall be so disregarded; provided, however, that Obligations so owned which have been pledged in good faith may be regarded as Outstanding if it is established to the reasonable satisfaction of Collateral Agent that the pledgee, and
not Grantor, or any such other obligor or Affiliate of either thereof, has the right so to act with respect to such Obligations and that the pledgee is not Grantor or any other obligor upon the Obligations or any Affiliate of Grantor or of such
other obligor; and provided, further, that in no event shall any Obligation which shall have been delivered to evidence or secure, in whole or in part, Grantor’s obligations in respect of other indebtedness be deemed to be owned by Grantor if
the principal of such Obligation is payable, but only to the extent of such portion of the principal amount of such Obligation as does not exceed the principal amount of such other indebtedness, provided, further, that in the case of any Obligation
the principal of which is payable from time to time without presentment or surrender, the principal amount of such Obligation that shall be deemed to be Outstanding at any time for all purposes of this Deed of Trust shall be the original principal
amount thereof less the aggregate amount of principal thereof theretofore paid. 
 “Permitted Liens” means Liens
which constitute either “Permitted Liens” in the Indentures or “Permitted Encumbrances” under and as defined in the Credit Agreement, as applicable. 

“Person” means any individual, corporation, joint venture, partnership, limited liability company, trust or
unincorporated organization, or any Governmental Authority. 
 “Property Additions” means, as of any particular
time, any item, unit or element of property which at such time is owned by Grantor and is Mortgaged Property. When any Property Additions are certified to Collateral Agent as the basis of any Authorized Purpose (except as otherwise provided in
Section 20.2 and Section 21), 
 (a) there shall be deducted from the Cost or Fair Value to Grantor thereof, as the
case may be (as of the date so certified), an amount equal to the Cost (or as to Property Additions of which the Fair Value to Grantor at the time the same became Funded Property was certified to be an amount less than the Cost as determined
pursuant to the definition of Cost, then such Fair Value, as so certified, in lieu of Cost) of all Funded Property of Grantor retired to the date of such certification (other than the Funded Property, if any, in connection with the application for
the release of which such certificate is filed) and not theretofore deducted from the Cost or Fair Value to Grantor of Property Additions theretofore certified to Collateral Agent, and 

(b) there may, at the option of Grantor, be added to such Cost or Fair Value, as appropriate, the sum of 

  
 17 

 (i) the principal amount of any obligations secured by a Purchase Money Lien, not
theretofore so added and which Grantor then elects so to add, which shall theretofore have been delivered to Collateral Agent or the trustee or other holder of a Lien prior to the Lien of this Deed of Trust as the basis of the release of Funded
Property retired from the Lien of this Deed of Trust or such prior Lien, as the case may be; 
 (ii) the amount of any cash,
not theretofore so added and which Grantor then elects so to add, which shall theretofore have been delivered to Collateral Agent or the trustee or other holder of a Lien prior to the Lien of this Deed of Trust as the basis of the release of Funded
Property retired from the Lien of this Deed of Trust or from such prior Lien; 
 (iii) the principal amount of any Obligation
or Obligations, or portion of such principal amount, not theretofore so added and which Grantor then elects so to add, (I) which shall theretofore have been used as the basis of the release of Funded Property retired or (II) the right to the
securing of which under the provisions of Section 22.3 shall at any time theretofore have been waived under Section 20.2(d)(iii) as the basis of the release of Funded Property retired; 

(iv) the Cost or Fair Value to Grantor (whichever shall be less) of any Property Additions, not theretofore so added and which
Grantor then elects so to add, which shall theretofore have been made the basis of the release of Funded Property retired (such Fair Value to be the amount shown in the Expert’s Certificate delivered to Collateral Agent in connection with such
release); and 
 (v) the Cost to Grantor of any Property Additions not theretofore so added and which Grantor then elects so
to add, to the extent that the same shall have been substituted for Funded Property retired; 
 provided, however, that the aggregate of the
amounts added under clause (b) above shall in no event exceed the amounts deducted under clause (a) above. 
 “Purchase
Money Lien” means, with respect to any property being acquired or disposed of by Grantor or being released from the Lien of this Deed of Trust, a Lien on such property which 

(a) is taken or retained by the transferor of such property to secure all or part of the purchase price thereof; 

(b) is granted to one or more Persons other than the transferor which, by making advances or incurring an obligation, give
value to enable Grantor of such Lien to acquire rights in or the use of such property; 
 (c) is granted to any other Person
in connection with the release of such property from the Lien of this Deed of Trust on the basis of the deposit with Collateral Agent, or the trustee or other holder of a Lien prior to the Lien of this Deed of Trust, of obligations secured by such
Lien on such property (as well as any other property subject thereto); 

  
 18 

 (d) is held by a trustee or agent for the benefit of one or more Persons
described in clause (a), (b) and/or (c) above, provided that such Lien may be held, in addition, for the benefit of one or more other Persons which shall have theretofore given, or may thereafter give, value to or for the benefit or
account of Grantor of such Lien for one or more other purposes; or 
 (e) otherwise constitutes a purchase money mortgage or
a purchase money security interest under applicable law; 
 and, without limiting the generality of the foregoing, for purposes of this Deed of Trust, the
term Purchase Money Lien shall be deemed to include any Lien described above whether or not such Lien (x) shall permit the issuance or other incurrence of additional indebtedness secured by such Lien on such property, (y) shall permit the
subjection to such Lien of additional property and the issuance or other incurrence of additional indebtedness on the basis thereof and/or (z) shall have been granted prior to the acquisition, disposition or release of such property, shall
attach to or otherwise cover property other than the property being acquired, disposed of or released and/or shall secure obligations issued prior and/or subsequent to the issuance of the obligations delivered in connection with such acquisition,
disposition or release. 
 “Required Secured Parties” means the Indenture Trustees, the Administrative Agent, and
the Secured Party Representative(s) for any Additional Obligations. 
 “Responsible Officer” means, with respect to
the Collateral Agent, any officer assigned to the Corporate Finance Unit (or any successor division or unit) of the Collateral Agent located at the Corporate Trust Office of the Collateral Agent, who shall have direct responsibility for the
administration of this Deed of Trust. 
 “Secured Parties” means, collectively, the Credit Agreement Secured
Parties, the Indenture Notes Secured Parties, the holders of any Additional Obligations, and the Collateral Agent. 
 “Secured
Party Certificate” means a certificate of a Secured Party, which may include a Secured Party Representative, signed by a Secured Party Officer of such Secured Party and (i) setting forth the principal amount of the Obligations owed
to such Secured Party (or owed to the Secured Parties on whose behalf the Secured Party Representative shall act) as of the date of such certificate and, if applicable, any outstanding unutilized commitments to extend credit to Grantor by such
Secured Party (or by the Secured Parties on whose behalf the Secured Party Representative shall act) as of the date of such certificate, (ii) setting forth a contact person for such Secured Party, including phone and facsimile numbers for such
person, (iii) directing the Collateral Agent to take a specified action and (iv) stating specifically the action the Collateral Agent is directed to take under this Deed of Trust and the specific provision of this Deed of Trust thereof
pursuant to which the Collateral Agent is being directed to act. 

  
 19 

 “Secured Party Officer” means any authorized officer of any holder of any
Obligations, or any authorized officer of a Secured Party Representative on behalf of one or more such holders. 
 “Secured Party
Representative” means, (i) in the case of the holders of the Indenture Notes under the First Indenture, The Bank of New York (or its successor), as Trustee under the First Indenture, (ii) in the case of the holders of the
Indenture Notes under the Second Indenture, The Bank of New York (or its successor), as Trustee under the Second Indenture, (iii) in the case of the Lenders under the Credit Agreement, JPMorgan Chase Bank, N.A. (or its successor), as
Administrative Agent under the Credit Agreement, and (iv) in the case of any Additional Obligations, the Person identified as the relevant Secured Party Representative in the Grantor Order delivered under Section 22 with respect thereto.

 “UCC” means the Uniform Commercial Code as in effect in the State of Texas, as amended from time to time, and
shall include Subchapter A of Chapter 35 of the Texas Business and Commerce Code, Sections 35.01, et seq., as amended from time to time. 

“United States” means the United States of America, its territories, its possessions and other areas subject to its
jurisdiction. 
 In addition: 

(a) The words “hereof, “herein”, “hereto” and “hereunder” and words of similar import when used in this Deed
of Trust shall refer to this Deed of Trust as a whole and not to any particular provision of this Deed of Trust, and Section, subsection and Schedule references are to this Deed of Trust unless otherwise specified; 

(b) The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without
limitation”; and 
 (c) Unless the context clearly indicates a contrary intent or unless otherwise specifically provided herein, words
used in this Deed of Trust shall be used interchangeably in singular or plural form and the word “Grantor” shall mean “each Grantor or any subsequent owner or owners of the Mortgaged Property or any part thereof or interest
therein,” the phrase “DOT Trustee” shall mean “Collateral Agent serving as DOT Trustee, or any successor DOT Trustee for the Lenders and the Indenture Trustees,” the word “Person” shall include any individual,
corporation, partnership, limited liability company, trust, unincorporated association, government, governmental authority, or other entity, and the words “Mortgaged Property” shall include any portion of the Mortgaged Property or interest
therein. Whenever the context may require, any pronouns used herein shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa. The captions in this Deed
of Trust are for convenience of reference only and in no way limit or amplify the provisions hereof. 
  

	2.	GRANT 

 For the ratable benefit of the Secured Parties and to secure the full and timely
payment and performance of the Obligations, Grantor grants, bargains, sells, conveys, assigns, transfers, 

  
 20 

 
mortgages, pledges, sets over and confirms to Collateral Agent a security interest and Lien on the Mortgaged Property, subject, however, only to Permitted Liens; TO HAVE AND TO HOLD the Mortgaged
Property together with the rights, privileges and appurtenances thereto belonging to Collateral Agent and to its substitutes or successors, forever; and Grantor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the
title to the Mortgaged Property, subject to Permitted Liens, unto Collateral Agent and to its substitutes or successors against the claim or claims of every Person whomsoever lawfully claiming or to claim the same or any part thereof. 

TO HAVE AND TO HOLD the Mortgaged Property unto the Collateral Agent, its successors and assigns for the uses and purposes set forth herein,
until the Obligations are fully paid and performed; however, if the Credit Agreement Obligations are fully paid and performed and the Indenture Notes Obligations continue but no Indenture Notes Event of Default has occurred and is continuing, then
the estate hereby granted shall cease, terminate and become void. 
  

	3.	WARRANTIES, REPRESENTATIONS AND COVENANTS 

 Grantor warrants, represents and covenants to
Collateral Agent as follows: 
 3.1 Title to Mortgaged Property and Lien of this Instrument. Grantor warrants that Grantor has good
and indefeasible title to (or valid leasehold or easement interests in) the Mortgaged Property that are necessary to the operation of Grantor’s businesses as currently conducted, free and clear of all Liens (other than Permitted Liens) and
except where the failure to have such good title or valid interests could not reasonably be expected to have a Material Adverse Effect. Grantor is lawfully possessed of the Mortgaged Property and has sufficient right and authority to encumber the
Mortgaged Property under this Deed of Trust. This Deed of Trust creates valid and enforceable Liens and security interests against the Mortgaged Property, subject to Permitted Liens and to the effects of bankruptcy, insolvency or similar laws
affecting creditors’ rights generally and general equitable principles. Grantor shall preserve and protect the Lien (including the priority thereof) and security interest of this Deed of Trust, subject only to Permitted Liens, to the extent
necessary to avoid causing a Material Adverse Effect. 
 3.2 Preservation of Lien. Grantor shall maintain and preserve the Lien of
this Deed of Trust with respect to any Obligation that remains outstanding. 
 3.3 Maintenance of Properties. Grantor shall cause
(or, with respect to property owned in common with others, make reasonable effort to cause) the Mortgaged Property, considered as a whole, to be maintained and kept in good condition, repair and working order and shall cause (or, with respect to
property owned in common with others, make reasonable effort to cause) to be made such repairs, renewals, replacements, betterments and improvements thereof, as, in the judgment of Grantor, may be necessary in order that the operation of the
Mortgaged Property, considered as a whole, may be conducted in accordance with common industry practice; provided, however, that nothing in this Section 3.3 shall prevent Grantor from discontinuing, or causing the discontinuance of, the
operation and maintenance of any portion of the Mortgaged Property if such discontinuance is in the judgment of Grantor desirable in the conduct of its business; and provided, further, that nothing in this Section 3.3 shall prevent Grantor from
selling, transferring or otherwise disposing of, or causing the sale, transfer or other disposition of, any portion of the Mortgaged Property in compliance with the terms of the Credit Agreement, the Indentures, and any Additional Obligations. 

  
 21 

 3.4 Payment of Taxes; Discharge of Liens. Grantor shall pay all taxes and assessments and
other governmental charges lawfully levied or assessed upon the Mortgaged Property, or upon any part thereof, or upon the interest of Collateral Agent in the Mortgaged Property, before the same shall become delinquent, and shall observe and conform
in all material respects to all valid requirements of any Governmental Authority relative to the Mortgaged Property and all covenants, terms and conditions upon or under which any of the Mortgaged Property is held; and Grantor shall not suffer any
Lien to be created upon the Mortgaged Property, or any part thereof, prior to the Lien of this Deed of Trust, other than Permitted Liens. 

3.5 Insurance. Grantor shall (a) keep or cause to be kept the Mortgaged Property insured against loss by fire (subject to
Section 549.052 of the Texas Insurance Code), to the extent that property of similar character is usually so insured by companies similarly situated and operating like properties, to a reasonable amount, by reputable insurance companies, the
proceeds of such insurance (except as to any loss of Excepted Property and except as to any particular loss less than the greater of (i) Ten Million Dollars ($10,000,000) and (ii) three percent (3%) of the sum of the principal amount
of Obligations Outstanding on the date of such particular loss) to be made payable, subject to applicable law, to the Collateral Agent, or (b) in lieu of or supplementing such insurance in whole or in part, adopt some other method or plan of
protection against loss by fire at least equal in protection to the method or plan of protection against loss by fire of companies similarly situated and operating properties subject to similar fire hazards or properties on which an equal primary
fire insurance rate has been set by reputable insurance companies; and if Grantor shall adopt such other method or plan of protection, it shall, subject to applicable law (and except as to any loss of Excepted Property and except as to any
particular loss less than the greater of (A) Ten Million Dollars ($10,000,000) and (B) three percent (3%) of the sum of the Obligations Outstanding on the date of such particular loss), pay to the Collateral Agent on account of any
loss covered by such method or plan an amount in cash equal to the amount of such loss less any amounts otherwise paid to the Collateral Agent in respect of such loss. Any cash so required to be paid by Grantor pursuant to any such method or plan
shall for the purposes of this Deed of Trust be deemed to be proceeds of insurance. In case of the adoption of such other method or plan of protection, Grantor shall furnish to the Collateral Agent a certificate of an actuary or other qualified
person appointed by Grantor with respect to the adequacy of such method or plan. Anything herein to the contrary notwithstanding, the Company may have fire insurance policies with (a) a deductible provision in a dollar amount per occurrence not
exceeding the greater of (i) Ten Million Dollars ($10,000,000) and (ii) three percent (3%) of the sum of the Obligations Outstanding on the date such policy goes into effect, and/or (b) co-insurance or self-insurance provisions
with a dollar amount per occurrence not exceeding thirty percent (30%) of the loss proceeds otherwise payable; provided, however, that the dollar amount described in clause (a) above may be exceeded to the extent such dollar amount per
occurrence is below the deductible amount in effect as to fire insurance (A) on property of similar character insured by companies similarly situated and operating like properties or (B) on property as to which an equal primary fire
insurance rate has been set by reputable insurance companies. 

  
 22 

 (a) Insurance Proceeds for Funded Property. All moneys paid to the Collateral Agent by
Grantor in accordance with this Section 3.5 or received by the Collateral Agent as proceeds of any insurance, in either case on account of a loss on or with respect to Funded Property, shall be held by the Collateral Agent and, subject as
aforesaid, shall be paid by it to Grantor to reimburse Grantor for an equal amount expended or committed for expenditure in the rebuilding, renewal and/or replacement of or substitution for the property destroyed or damaged, upon receipt by the
Collateral Agent of: 
 (i) a Grantor Request requesting such payment, 

(ii) an Expert’s Certificate: 

(A) describing the property so damaged or destroyed; 

(B) stating the Cost of such property (or, if the Fair Value to Grantor of such property at the time the same became Funded
Property was certified to be an amount less than the Cost thereof, then such Fair Value, as so certified, in lieu of Cost) or, if such damage or destruction shall have affected only a portion of such property, stating the allocable portion of such
Cost or Fair Value; 
 (C) stating the amounts so expended or committed for expenditure in the rebuilding, renewal,
replacement of and/or substitution for such property; and 
 (D) stating the Fair Value to Grantor of such property as
rebuilt or renewed or as to be rebuilt or renewed and/or of the replacement or substituted property, and if 
 (1) within
six months prior to the date of acquisition thereof by Grantor, such property has been used or operated, by a person or persons other than Grantor, in a business similar to that in which it has been or is to be used or operated by Grantor, and 

(2) the Fair Value to Grantor of such property as set forth in such Expert’s Certificate is not less than Twenty-five
Thousand Dollars ($25,000) and not less than one percent (1%) of the aggregate principal amount of the Obligations at the time Outstanding, 

the Expert making the statement required by this clause (D) shall be an Independent Expert, and 

(iii) an Opinion of Counsel stating that, in the opinion of the signer, the property so rebuilt or renewed or to be rebuilt or
renewed, and/or the replacement property, is or will be subject to this Deed of Trust. 
 Any such moneys not so applied within thirty-six (36) months
after its receipt by the Collateral Agent, or in respect of which notice in writing of intention to apply the same to the work of 

  
 23 

 
rebuilding, renewal, replacement or substitution then in progress and uncompleted shall not have been given to the Collateral Agent by Grantor within such thirty-six (36) months, or which
Grantor shall at any time notify the Collateral Agent is not to be so applied, shall thereafter be withdrawn, used or applied in the manner, to the extent and for the purposes. 

Anything in this Deed of Trust to the contrary notwithstanding, if property on or with respect to which a loss occurs constitutes Funded
Property in part only, Grantor may, at its election, obtain the reimbursement of insurance proceeds attributable to the part of such property which constitutes Funded Property under this subsection (a) and obtain the reimbursement of insurance
proceeds attributable to the part of such property which does not constitute Funded Property under subsection (b) of this Section 3.5. 

(b) Insurance Proceeds for Mortgaged Property Not Constituting Funded Property. All moneys paid to the Collateral Agent by Grantor in
accordance with this Section 3.5 or received by the Collateral Agent as proceeds of any insurance, in either case on account of a loss on or with respect to property which does not constitute Funded Property, shall be held by the Collateral
Agent and, subject as aforesaid, shall be paid by it to Grantor upon receipt by the Collateral Agent of: 
 (i) Grantor
Request requesting such payment; 
 (ii) an Expert’s Certificate stating: 

(A) that such moneys were paid to or received by the Collateral Agent on account of a loss on or with respect to property which
does not constitute Funded Property; and 
 (B) if true, either (1) that the aggregate amount of the Cost or Fair Value
to Grantor (whichever is less) of all Property Additions which do not constitute Funded Property (excluding, to the extent of such loss, the property on or with respect to which such loss was incurred), after making deductions therefrom and
additions thereto of the character contemplated by the definitions of “Cost” and “Property Additions,” is not less than zero (0) or (2) that the amount of such loss does not exceed the aggregate Cost or Fair Value to
Grantor (whichever is less) of Property Additions acquired, made or constructed on or after the ninetieth (90th) day prior to the date of the Grantor Request requesting such payment; or 

(C) if neither of the statements contemplated in subclause (B) above can be made, the amount by which zero
(0) exceeds the amount referred to in subclause (B)(1) above (showing in reasonable detail the calculation thereof); and 

(iii) if the Expert’s Certificate required by clause (ii) above contains neither of the statements contemplated in
clause (ii)(B) above, an amount in cash, to be held by the Collateral Agent as part of the Mortgaged Property, equal to the amount shown in clause (ii)(C) above. 

  
 24 

 To the extent that Grantor shall be entitled to withdraw proceeds of insurance pursuant to this subsection (b),
such proceeds shall be deemed not to constitute Funded Cash. 
 (c) Payments. Whenever under the provisions of this Section 3.5
Grantor is required to deliver moneys to the Collateral Agent and at the same time shall have satisfied the conditions set forth herein for payment of moneys by the Collateral Agent to Grantor, there shall be paid to or retained by the Collateral
Agent or paid to Grantor, as the case may be, only the net amount. 
 3.6 Transfer Restrictions. Except as permitted under the Credit
Agreement, the Indentures, and the terms of any Additional Obligations, Grantor shall not sell, transfer, convey or assign all or any portion of, or any interest in, the Mortgaged Property. 

3.7 Further Assurances. To the extent required under the terms of the Credit Agreement, the Indentures, or the terms of any Additional
Obligations, to further assure Collateral Agent’s rights under this Deed of Trust, Grantor agrees promptly upon demand of Collateral Agent to do any act or execute any additional documents (including, but not limited to, security agreements on
any personalty included or to be included in the Mortgaged Property) as may be reasonably required by Collateral Agent to confirm the Lien of this Deed of Trust and all other rights or benefits conferred on Collateral Agent by this Deed of Trust.

  

	4.	LIMITATION ON AMOUNT OBLIGATED 

 Anything contained in this Deed of Trust to the contrary
notwithstanding, if any Fraudulent Transfer Law (as hereinafter defined) is determined by a court of competent jurisdiction to be applicable to the obligations of Grantor under this Deed of Trust, such obligations shall be limited to the maximum
aggregate amount that would not render Grantor’s obligations under this Deed of Trust subject to avoidance as a fraudulent transfer or conveyance under Section 548 of Title 11 of the United States Code or any applicable provisions of
comparable state law (collectively, the “Fraudulent Transfer Laws”), in each case after giving effect to all other liabilities of Grantor, contingent or otherwise, that are relevant under the Fraudulent Transfer Laws, and
giving effect as assets to the value (as determined under the applicable provisions of the Fraudulent Transfer Laws) of any rights to subrogation, reimbursement, indemnification, or contribution of Grantor pursuant to applicable law or pursuant to
the terms of any agreement. 
  

	5.	EXTENSION, RELEASE, ETC 

 (a) Except as provided in Section 20.8, none of
(i) the release of any Person liable for the indebtedness borrowed or guaranteed under the Credit Documents, the Indenture Notes, the Indentures, or the Additional Obligations, (ii) the extension of the maturity or alteration of any of the
terms of the indebtedness borrowed or guaranteed under the Credit Documents, the Indenture Notes, the Indentures, or the terms of any Additional Obligations or any guaranty thereof, (iii) the grant of other indulgences, (iv) the release or
reconveyance of all or any part of the Mortgaged Property, (v) the taking or release of any other or additional security for any Obligation, or (vi) the making of any composition or other arrangement with debtors in relation thereto, shall
affect the Lien or charge of this Deed of Trust upon any portion of the Mortgaged Property not then or theretofore released as security for the full amount of the Obligations. 

  
 25 

 (b) No recovery of any judgment by Collateral Agent and no levy of an execution under any
judgment upon the Mortgaged Property or upon any other property of Grantor shall affect the Lien of this Deed of Trust or any Liens, rights, powers or remedies of Collateral Agent hereunder, and such Liens, rights, powers and remedies shall continue
unimpaired. 
 (c) Unless expressly provided otherwise, in the event that Collateral Agent’s interest in this Deed of Trust and title
to the Mortgaged Property or any estate therein shall become vested in the same Person, this Deed of Trust shall not merge in such title but shall continue as a valid Lien on the Mortgaged Property for the amount secured hereby. 

 

	6.	NOTICES 

 Notices and other communications provided for herein shall be in writing and
shall be delivered by hand or overnight courier service, mailed or sent by facsimile, as follows: 
  

			
	If to Grantor:	  	 Oncor Electric Delivery Company LLC
 1601
Bryan Street
 Dallas, Texas 75201
 Attention: Treasurer

Facsimile No.: 214.486.2067

		
	If to Lenders:	  	 c/o JP Morgan Chase Bank, N.A.
 1111 Fannin
Street, 10th Floor
 Houston, Texas 77002

Attention: Rose L. Salvacion
 Facsimile No.:
713.427.6307

		
	If to Indenture Trustees:	  	 The Bank of New York
 101 Barclay Street,
8W
 New York, New York 10286
 Attention: Corporate Trust
Administration
 Facsimile No. 212.815.5704

		
	If to Collateral Agent:	  	 The Bank of New York
 101 Barclay Street,
8W
 New York, New York 10286
 Attention: Corporate Trust
Officer
 Facsimile No. 212. 815.5704

 All notices and other communications given to any party hereto in accordance with the provisions of this Deed of Trust
shall be deemed to have been given on the date of receipt if delivered by hand or overnight courier service or sent by facsimile or electronic mail to such party as provided in this Section 6 or in accordance with the latest unrevoked direction
from such party given in accordance with this Section 6, provided that no notice or communication to the Collateral Agent, the Indenture Trustees, or the Administrative Agent shall be deemed given until actually received by it at its address
set forth above or at such other address as it shall have designated pursuant to the latest unrevoked direction given by it in accordance with this 

  
 26 

 
Section 6. Each of the Indenture Trustees, the DOT Trustee and the Collateral Agent shall have the right, but shall not be required, to rely upon and comply with instructions and directions
sent by e-mail and other similar unsecured electronic methods by persons believed by it to be authorized to give instructions and directions on behalf of the Grantor, the Administrative Agent or any Secured Party Representative. Each of the
Indenture Trustees, the DOT Trustee and the Collateral Agent shall have no duty or obligation to verify or confirm that the person who sent such instructions or directions is, in fact, a person authorized to give instructions or directions on behalf
of the Grantor, the Administrative Agent or any Secured Party Representative; and each of the Indenture Trustees, the DOT Trustee and the Collateral Agent shall have no liability for any losses, liabilities, costs or expenses incurred or sustained
by the Grantor, the Administrative Agent or any Secured Party Representative as a result of such reliance upon or compliance with such instructions or directions and shall be deemed to have assumed all risks arising out of the use of such electronic
methods to submit instructions and directions to the Indenture Trustees, the DOT Trustee and the Collateral Agent, including without limitation the risk of the Indenture Trustees, the DOT Trustee and the Collateral Agent acting on unauthorized
instructions, and the risk of interception and misuse by third parties. 
  

	7.	MODIFICATIONS 

 This Deed of Trust may not be amended, supplemented or otherwise modified
except in accordance with the provisions of Section 8.08 of the Credit Agreement, Article XIII of each of the Indentures, and similar provisions with respect to Additional Obligations, and except as otherwise provided in this Section 7.
Any agreement made by Grantor and Collateral Agent after the Execution Date relating to this Deed of Trust shall be superior to the rights of the holder of any intervening or subordinate Lien or encumbrance. 

7.1 Amendments Without Consent of Holders of Obligations. Without the consent of any holders, Grantor and Collateral Agent, at any time
and from time to time, may enter into one or more amendments hereto, in form satisfactory to Collateral Agent, for any of the following purposes: 

(a) to add one or more covenants of Grantor or other provisions for the benefit of the holders of all or any Obligations or to surrender any
right or power herein conferred upon Grantor (and if such covenants are to be for the benefit of less than all Obligations, stating that such covenants are expressly being included solely for the benefit of such Obligations); or 

(b) to add any additional Events of Default with respect to all or any Obligations Outstanding hereunder (and if such additional Events of
Default are to be for the benefit of less than all Obligations, stating that such additional Events of Default are expressly being included solely for the benefit of such Obligations); or 

(c) to provide additional collateral security for any Obligations; or 

(d) to amend this Deed of Trust, as originally executed and delivered and as it may have been subsequently amended, in its entirety, but with
such additions, deletions and other changes as shall not adversely affect the interests of the holders of the Outstanding Obligations in any material respect; or 

  
 27 

 (e) to cure any ambiguity, to correct or supplement any provision herein which may be defective
or inconsistent with any other provision herein, or to make any other changes to the provisions hereof or to add other provisions with respect to matters or questions arising under this Deed of Trust, provided that such other changes or additions
shall not materially adversely affect the interests of the holders of Outstanding Obligations in any material respect, or 
 (f) to change
or eliminate any provision of this Deed of Trust or to add any new provision to this Deed of Trust; provided, however, that if such change, elimination or addition shall materially adversely affect the interests of the holders of Obligations
Outstanding on the date of such supplemental indenture in any material respect, such change, elimination or addition shall become effective with respect to such Obligations only pursuant to the provisions of Section 7.2 hereof. 

Without limiting the generality of the foregoing, if the Trust Indenture Act of 1939 (“Trust Indenture Act”) applies
to this Deed of Trust and the Trust Indenture Act as in effect at the Execution Date or at any time thereafter shall be amended, and 

(x) if any such amendment shall require one or more changes to any provisions hereof or the inclusion herein of any additional
provisions, or shall by operation of law be deemed to effect such changes or incorporate such provisions by reference or otherwise, then this Deed of Trust shall be deemed to have been amended so as to conform to such amendment to the Trust
Indenture Act, and Grantor and Collateral Agent may, without the consent of any holders of Outstanding Obligations, enter into an instrument in writing to evidence such amendment hereof; or 

(y) if any such amendment shall permit one or more changes to, or the elimination of, any provisions hereof which, at the
Execution Date or at any time thereafter, are required by the Trust Indenture Act to be contained herein or are contained herein to reflect any provision of the Trust Indenture Act as in effect at such date, this Deed of Trust shall be deemed to
have been amended to effect such changes or elimination, and Grantor and Collateral Agent may, without the consent of any holders, enter into an instrument in writing hereto to this Deed of Trust to effect such changes or elimination or evidence
such amendment. 
 7.2 Amendments With Consent of Holders of Obligations. With the consent of the holders of not less than a majority
in aggregate principal amount of the Outstanding Obligations (other than Deed of Trust Obligations), considered as one class, by act of said holders delivered to Grantor and Collateral Agent, Grantor, when authorized by a resolution of the Board of
Directors, and Collateral Agent may enter into an amendment or amendments hereto for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Deed of Trust; provided, however, that if a
proposed amendment shall directly affect the rights of the holders of less than all Outstanding Obligations (other than Deed of Trust Obligations), then the consent only of the holders of a majority in aggregate principal amount of such Outstanding
Obligations so directly affected, considered as one class, shall be required. 

  
 28 

 7.3 Limitation on Certain Amendments. 

(a) Neither the Collateral Agent nor the DOT Trustee shall be obligated to enter into, or otherwise be bound by, any amendment hereto that
adversely affects any of its own rights, duties, immunities, indemnities or liabilities under this Deed of Trust. 
 (b) No amendment hereto
shall affect the right of the holders of the Indenture Notes under the Indentures to be secured at least equally and ratably with the holders of the Credit Agreement Obligations and the Additional Obligations, including the rights of the holders of
the Indenture Notes under Sections 5(d), (e), (h) and (i) hereto. 
 (c) No Credit Agreement Secured Party shall be obligated to
enter into, or otherwise be bound by, any amendment hereto that adversely affects any of its own rights, duties, immunities, indemnities or liabilities under this Deed of Trust. 

 

	8.	PARTIAL INVALIDITY 

 In the event any one or more of the provisions contained in this
Deed of Trust shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision hereof, but each shall be construed as if such invalid, illegal
or unenforceable provision had never been included. Notwithstanding anything to the contrary contained in this Deed of Trust or in any provisions of any Credit Document or in any provisions of the Indenture Notes or the Indentures, or in the terms
of any Additional Obligations, the obligations of Grantor and of any other obligor under any Credit Documents, Indenture Notes, Indentures, or in the terms of any Additional Obligations, shall be subject to the limitation that Collateral Agent shall
not charge, take or receive, nor shall Grantor or any other obligor be obligated to pay to Collateral Agent, any amounts constituting interest in excess of the maximum rate permitted by law to be charged by Collateral Agent. 

 

	9.	REMEDIES NOT EXCLUSIVE 

 Collateral Agent shall be entitled to exercise all rights and
powers under this Deed of Trust or under any laws now or hereafter in force, notwithstanding some or all of the Obligations may now or hereafter be otherwise secured, whether by deed of trust, mortgage, security agreement, pledge, lien, assignment
or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement, shall prejudice or in any manner affect Collateral Agent’s right to realize upon or enforce any other security now or hereafter held by Collateral Agent, it being
agreed that Collateral Agent shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Collateral Agent in such order and manner as Collateral Agent may reasonably determine. No remedy herein conferred upon or
reserved to Collateral Agent is intended to be exclusive of any other remedy herein or by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or
in equity or by statute. Every power or remedy given by this Deed of Trust to Collateral Agent or to which Collateral Agent may otherwise be entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed
expedient by Collateral Agent. In no event shall Collateral Agent, in the exercise of the remedies provided in this Deed of Trust (including, without limitation, the appointment of a receiver and the entry of such receiver on to all or any part of
the Mortgaged Property), be deemed a “mortgagee in possession,” and Collateral Agent shall not in any way be made liable for any act, either of commission or omission, in connection with the exercise of such remedies. 

  
 29 

	10.	SUCCESSORS AND ASSIGNS 

 All covenants of Grantor contained in this Deed of Trust are
imposed solely and exclusively for the benefit of Collateral Agent, and its successors and assigns, and no other Person shall have standing to require compliance with such covenants or be deemed, under any circumstances, to be a beneficiary of such
covenants, any or all of which may be freely waived in whole or in part by Collateral Agent at any time if Collateral Agent shall determine a waiver is deemed advisable. All such covenants of Grantor shall run with the land and bind Grantor, the
successors and assigns of Grantor (and each of them) and all subsequent owners, encumbrances and tenants of the Mortgaged Property, and shall inure to the benefit of Collateral Agent and its successors and assigns. The word “Grantor” shall
be construed as if it read “Grantors” whenever the sense of this Deed of Trust so requires and if there shall be more than one Grantor, the obligations of such Grantors shall be joint and several. 

 

	11.	NO WAIVERS, ETC. 

 Any failure by Collateral Agent to insist upon the strict performance
by Grantor of any of the terms and provisions of this Deed of Trust shall not be deemed to be a waiver of any of the terms and provisions hereof, and Collateral Agent, notwithstanding any such failure, shall have the right thereafter to insist upon
the strict performance by Grantor of any and all of the terms and provisions of this Deed of Trust to be performed by Grantor. Collateral Agent may release, regardless of consideration and without the necessity for any notice to or consent by the
holder of any subordinate Lien on the Mortgaged Property, any part of the security held for the obligations secured by this Deed of Trust without, as to the remainder of the security, in any way impairing or affecting the Lien of this Deed of Trust
or the priority of such Lien over any subordinate Lien or deed of trust. 
  

	12.	GOVERNING LAW, ETC. 

 This Deed of Trust shall be governed by and construed and
interpreted in accordance with the laws of the State of Texas, except that Grantor expressly acknowledges that by their respective terms the Credit Agreement and the Indentures shall be governed and construed in accordance with the laws of the State
of New York, and except further that the Collateral Agent and Grantor hereby agree, and by their acceptance of the benefits of this Deed of Trust, the Secured Parties shall be deemed to have agreed, that all of the rights, benefits, privileges,
immunities and obligations of the Collateral Agent under this Deed of Trust shall be governed and construed in accordance with the laws of the State of New York; however, insofar as this Deed of Trust transfers or creates an interest in real
property in the State of Texas for security purposes or otherwise, or relates to the nature of any interest in real estate that is transferred or created by this Deed of Trust, the method for foreclosure of the Lien of this Deed of Trust or the
nature of any interest in real property that results from any such foreclosure, or relates to the manner and effect or recording or failing to record evidence of any transaction under this Deed of Trust that transfers or creates an interest in real
property in the State of Texas, this Deed of Trust shall be governed by and construed and interpreted in accordance with the laws of the State of Texas. 

  
 30 

	13.	DUTY OF COLLATERAL AGENT; AUTHORITY OF COLLATERAL AGENT 

 (a) Each Secured Party
Representative, on behalf of itself and the Secured Parties on whose behalf the Secured Party Representative shall act, has designated and appointed The Bank of New York to act as the Collateral Agent under this Deed of Trust, and has authorized The
Bank of New York, as the Collateral Agent, to take such actions on its behalf under the provisions of this Deed of Trust and to exercise such powers and perform such duties as are expressly delegated to the Collateral Agent by the terms of this Deed
of Trust, including to act as DOT Trustee, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Deed of Trust, the Collateral Agent shall not have any duties or
responsibilities, except those expressly set forth in this Deed of Trust, or any fiduciary relationship with any Secured Party, and no implied covenants, functions or responsibilities shall be read into this Deed of Trust or otherwise exist against
the Collateral Agent. The Collateral Agent shall not be liable for any action taken or omitted to be taken by it hereunder, or in connection herewith, or in connection with the Mortgaged Property, except to the extent caused by its negligence,
willful misconduct, or bad faith. The Collateral Agent shall not be required to qualify in any jurisdiction in which it is not presently qualified. 

(b) The Collateral Agent will give notice to the Secured Party Representatives of any Enforcement Action taken. Notice of Enforcement Action
taken shall be given prior to the taking of such action unless the Collateral Agent determines that to do so would be detrimental to the interests of the Secured Parties, in which event such notice shall be given promptly after the taking of such
enforcement action. The Collateral Agent shall promptly distribute to the Secured Party Representatives copies of all notices, documents and certificates received by it from Grantor under this Deed of Trust unless this Deed of Trust provides that
Grantor shall distribute such notice, document or certificate directly to the Secured Party Representatives. 
 (c) All Liens and security
interests in the Mortgaged Property created hereunder shall be held in the name of the Collateral Agent for the benefit of the Secured Parties and administered by and through the Collateral Agent in accordance with this Deed of Trust. 

(d) Notwithstanding anything to the contrary in this Deed of Trust, the Collateral Agent shall not be required to (i) exercise any rights
or remedies under this Deed of Trust or (ii)give any consent under this Deed of Trust or enter into any agreement amending, modifying or supplementing any provision of this Deed of Trust unless it shall have been directed to do so in Secured Party
Certificates of the Required Secured Parties. 
 (e) The Collateral Agent shall be under no obligation whatsoever to file any financing or
continuation statements or to make any other filing under the UCC or other applicable law or to file or record any fixture filings, mortgages, deeds of trust or any other instrument or document with respect to the Mortgaged Property pursuant to this
Deed of Trust. 
 (f) Collateral Agent’s sole duty with respect to the custody, safekeeping and physical preservation of the Mortgaged
Property that is in its possession, or otherwise, shall be to deal 

  
 31 

 
with it in the same manner as Collateral Agent deals with similar property for its own account. Neither Collateral Agent, any Secured Party nor any of their respective officers, directors,
employees or agents shall be liable for failure to demand, collect or realize upon any of the Mortgaged Property or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Mortgaged Property upon the request of
Grantor or any other Person or to take any other action whatsoever with regard to the Mortgaged Property or any part thereof. The powers conferred on Collateral Agent and the Secured Parties hereunder are solely to protect the Collateral
Agent’s and the Secured Parties’ interests in the Mortgaged Property and shall not impose any duty upon Collateral Agent or any Secured Party to exercise any such powers. EACH OF THE COLLATERAL AGENT AND THE SECURED PARTIES SHALL BE
ACCOUNTABLE ONLY FOR AMOUNTS THAT IT ACTUALLY RECEIVES AS A RESULT OF THE EXERCISE OF SUCH POWERS, AND NEITHER IT NOR ANY OF ITS OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS SHALL BE RESPONSIBLE TO GRANTOR FOR ANY ACT OR FAILURE TO ACT HEREUNDER, EXCEPT
FOR ITS OWN NEGLIGENCE, WILLFUL MISCONDUCT, OR BAD FAITH. 
 (g) Grantor acknowledges that the rights and responsibilities of Collateral
Agent under this Deed of Trust with respect to any action taken by Collateral Agent or the exercise or non-exercise by Collateral Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or
arising out of this Deed of Trust shall, as between Collateral Agent and the Secured Parties, be governed by this Deed of Trust, and by such other agreements with respect thereto as may exist from time to time among them, but, as between Collateral
Agent and Grantor, Collateral Agent shall be conclusively presumed to be acting as agent for the Secured Parties with full and valid authority so to act or refrain from acting, and Grantor shall be under no obligation, or entitlement, to make any
inquiry respecting such authority. 
  

	14.	RIGHTS OF COLLATERAL AGENT 

 (a) The Collateral Agent (i) may execute any of its
duties under this Deed of Trust by or through agents, experts or attorneys-in-fact and the Collateral Agent shall not be responsible for any misconduct or negligence on the part of any such agent, expert or attorney-in-fact appointed with due care
by it hereunder, and (ii) shall be entitled to advice of counsel of its selection, and the advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in reliance thereon. 
 (b) Neither the Collateral Agent nor any of its officers, directors, employees, agents,
attorneys-in-fact or affiliates shall be (i) liable for any action taken or omitted to be taken by it under or in connection with this Deed of Trust (except for, in the case of the Collateral Agent, its negligence, willful misconduct, or bad
faith), (ii) liable for any action taken or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the rights or powers conferred upon it hereunder, or (iii) responsible in any manner to any of the
Secured Parties for any recitals, statements, representations or warranties made in this Deed of Trust or in any certificate, report, statement or other document referred to or provided for in, or received by the Collateral Agent under or in
connection with, this Deed of Trust or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Deed of Trust or the Mortgaged 

  
 32 

 
Property or for any failure of Grantor or any other Person to perform its obligations hereunder. The Collateral Agent shall not be under any obligation to any Secured Party or any other Person to
ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Deed of Trust, or to inspect the properties, books or records of Grantor. 

(c) The Collateral Agent shall be entitled to rely conclusively, and shall be fully protected in relying upon any note, writing, resolution,
request, direction, certificate, notice, consent, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and to have been signed, sent or made by
the proper Person or Persons and/or upon advice and/or statements of legal counsel (who may be counsel to Grantor or any Secured Party), independent accountants and other experts selected by the Collateral Agent. In connection with any request or
direction of the Required Secured Parties, the Collateral Agent shall be entitled to rely conclusively, and shall, subject to the other terms of this Deed of Trust, be fully protected in relying on any Secured Party Certificate. In connection with
any request or direction of Grantor pursuant to a request for a release, the Collateral Agent shall be entitled to rely conclusively, and shall, subject to the terms of this Deed of Trust, be fully protected in relying on any request for release
and/or supporting evidence. The Collateral Agent shall be fully justified in failing or refusing to take any action under this Deed of Trust (i) if such action would, in the opinion of the Collateral Agent (which may be based on the advice or
opinion of counsel), be contrary to law (including if the Collateral Agent would not be qualified to act) or the terms of this Deed of Trust, (ii) if such action is not specifically provided for in this Deed of Trust or it shall not have
received any such advice or concurrence of the Required Secured Parties as it deems appropriate, or (iii) if, in connection with the taking of any such action hereunder that would constitute an exercise of remedies under this Deed of Trust, it
shall not first be indemnified to its satisfaction by the Secured Parties against any and all risk of nonpayment, liability and expense which may be incurred by it by reason of taking or continuing to take any such action. The Collateral Agent shall
in all cases be fully protected in acting, or in refraining from acting, under this Deed of Trust in accordance with a request of the Required Secured Parties contained in Secured Party Certificates, and such request and any action taken or failure
to act pursuant thereto shall be binding upon all the Secured Parties. 
 (d) If, with respect to a proposed action to be taken by it, the
Collateral Agent shall determine in good faith that the provisions of this Deed of Trust relating to the functions, responsibilities or powers of the Collateral Agent are or may be ambiguous or inconsistent, the Collateral Agent shall notify the
Secured Party Representatives and Grantor, identifying the proposed action, and may decline either to perform such function or responsibility or to take the action requested unless it has received the written confirmation of the Required Secured
Parties, executed by Secured Party Representatives, that the Required Secured Parties concur in the circumstances that the action proposed to be taken by the Collateral Agent is consistent with the terms of this Deed of Trust or is otherwise
appropriate. The Collateral Agent shall be fully protected in acting or refraining from acting upon the confirmation of the Required Secured Parties in this respect, and such confirmation shall be binding upon the Collateral Agent and the other
Secured Parties. 
 (e) The Collateral Agent shall not be deemed to have actual, constructive, direct or indirect knowledge or notice of the
occurrence of any Event of Default unless and until a 

  
 33 

 
Responsible Officer of the Collateral Agent has received at the Corporate Trust Office a written notice or a certificate from a Secured Party Officer of a Secured Party Representative or Grantor
stating that an Event of Default has occurred, and such notice or certificate references the Deed of Trust. The Collateral Agent shall have no obligation whatsoever either prior to or after receiving such notice or certificate to inquire whether an
Event of Default has in fact occurred and shall be entitled to rely conclusively, and shall be fully protected in so relying, on any notice or certificate so furnished to it. No provision of this Deed of Trust shall require the Collateral Agent to
expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds
or adequate indemnity against such risk or liability, including an advance of moneys necessary to take the action requested, is not reasonably assured to it, except that in respect of any potential environmental liability or the taking of title to
any real property, the Collateral Agent may decline to act unless it receives indemnity satisfactory to it in its sole discretion, including, but not limited to, an advance of moneys necessary to take the action requested. In the event that the
Collateral Agent receives such a notice of the occurrence of any Event of Default, the Collateral Agent shall give notice thereof to the Secured Party Representatives. The Secured Parties shall provide evidence of indemnity to the Collateral Agent
which is satisfactory to the Collateral Agent for any action directed by the Required Secured Parties, including, but not limited to, an advance of moneys necessary to take the action requested. 

(f) Grantor will pay upon demand to the Collateral Agent the amount of any and all reasonable and documented out-of-pocket fees and expenses,
including the reasonable fees and expenses of one counsel for the Collateral Agent and one local counsel for the Collateral Agent (unless in the good faith opinion of the Collateral Agent or such counsel it would be inappropriate under applicable
standards of legal professional conduct due to an actual or potential conflict of interest, to have only one counsel), which the Collateral Agent may incur in connection with (i) the administration of this Deed of Trust, (ii) the custody
or preservation of, or the sale of, collection from, or other realization upon, any of the Mortgaged Property, (iii) the exercise or enforcement (whether through negotiations, legal proceedings or otherwise) of any of the rights of the
Collateral Agent under this Deed of Trust, or (iv) the failure by Grantor to perform or observe any of the provisions hereof or of any of the documents evidencing or relating to any of the Obligations. The provision of this Section 14(f)
shall survive the expiration or earlier termination of this Deed of Trust and the resignation or removal of the Collateral Agent. 
 (g)
Neither the Collateral Agent nor any of its officers, directors, employees or agents shall be liable for failure to demand, collect or realize upon any of the Mortgaged Property or for any delay in doing so. The powers conferred on the Collateral
Agent hereunder are solely to protect the Collateral Agent’s interests in the Mortgaged Property and shall not impose any duty upon the Collateral Agent to exercise any such powers. The Collateral Agent shall be accountable only for amounts
that it actually receives as a result of the exercise of such powers. The Collateral Agent shall have no duty or liability as to the taking of any necessary steps to preserve or protect the Mortgaged Property or to preserve rights against prior
parties. 
 (h) The Collateral Agent shall not be responsible for (i) perfecting, maintaining, monitoring, preserving or protecting the
security interest or Lien granted under this Deed of 

  
 34 

 
Trust, (ii) the filing, re-filing, recording, re-recording or continuing of any document, financing statement, mortgage, assignment, notice, instrument of further assurance or other
instrument in any public office at any time or times or (iii) providing, maintaining, monitoring or preserving insurance on or the payment of taxes with respect to any of the Mortgaged Property. The actions described in items (i) through
(iii) shall be the responsibility of Grantor. 
 (i) No permissive or discretionary power or authority available to the Collateral
Agent shall be construed to be a duty. 
 (j) Under no circumstances shall the Collateral Agent be liable for any special, punitive,
indirect, exemplary or consequential damages, regardless of the form of action and even if the same were foreseeable. 
 (k) The Collateral
Agent shall not be responsible or liable for any failure or delay in the performance of its obligations under this Deed of Trust arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without
limitation, acts of God; earthquakes; fire; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; interruptions; loss or malfunctions of utilities, computer (hardware or software) or communication services; accidents;
labor disputes; acts of civil or military authority and governmental action. 
  

	15.	LACK OF RELIANCE BY COLLATERAL AGENT 

 Each Secured Party, by its acceptance of the
benefits of this Deed of Trust, shall be deemed to have expressly acknowledged that neither the Collateral Agent nor any of its officers, directors, employees, agents or attorneys-in-fact has made any representations or warranties to any Secured
Party and that no act by the Collateral Agent hereafter taken, including, without limitation, any review of Grantor or of the affairs of Grantor, shall be deemed to constitute any representation or warranty by the Collateral Agent to any Secured
Party. Each Secured Party, by its acceptance of the benefits of this Deed of Trust, shall be deemed to have represented to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other Secured Party, and
based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of Grantor. Each Secured Party, by its
acceptance of the benefits of this Deed of Trust, shall be deemed to have further represented to the Collateral Agent that it will, independently and without reliance upon the Collateral Agent, and based on such documents and information as it shall
deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Deed of Trust, and to make such investigation as it deems necessary to inform itself as to the business,
operations, property, financial and other condition and creditworthiness of Grantor. Except for notices, reports and other documents expressly required to be furnished to the Secured Party Representatives by the Collateral Agent hereunder, the
Collateral Agent shall not have any duty or responsibility to provide any Secured Party with any credit or other information concerning the business, operations, property, financial and other condition or creditworthiness of Grantor which may come
into the possession of the Collateral Agent or any of its officers, directors, employees, agents or attorneys-in-fact. 

  
 35 

	16.	INDEMNIFICATION OF COLLATERAL AGENT 

 (a) Grantor hereby agrees to indemnify the
Collateral Agent in its capacity as such and in its individual capacity from and against any and all claims, liabilities, (including all environmental liabilities), obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses
or disbursements of any kind whatsoever which may at any time be imposed on, incurred by or asserted against the Collateral Agent in its capacity as such and in its individual capacity in any way relating to or arising out of (i) this Deed of
Trust or any of the documents evidencing or relating to the Obligations, or the performance of its duties as Collateral Agent hereunder, or any action taken or omitted by the Collateral Agent in its capacity as such under or in connection with this
Deed of Trust, including, without limitation, enforcement of this Deed of Trust, provided that Grantor shall not be liable for the payment of any portion of such claims, liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements to the extent that any of the foregoing result from the Collateral Agent’s negligence, willful misconduct, or bad faith, or (ii) any refund or adjustment of any amount paid or payable to the
Collateral Agent under or in respect of any of the Mortgaged Property, or any interest therein, which may be ordered or otherwise required by any Person. Grantor shall not have any liability for any punitive, special, indirect or consequential
damages under this Deed of Trust (except, in the case of Grantor’s obligations to indemnify Collateral Agent, to the extent Collateral Agent is found liable for any punitive, special, indirect, or consequential damages to a third party). 

(b) The indemnities provided hereunder shall survive the termination of this Deed of Trust and the resignation or removal of the Collateral
Agent. 
  

	17.	RESIGNATION OR REMOVAL OF COLLATERAL AGENT 

 The Collateral Agent may resign as
Collateral Agent at any time upon written notice to the Secured Party Representatives and Grantor, and may be removed at any time with or without cause by the Required Secured Parties, with any such resignation or removal to become effective only
upon the appointment of a successor Collateral Agent under this Section. If the Collateral Agent shall provide notice of its resignation or be removed as Collateral Agent, then the Required Secured Parties shall (and if no such successor shall have
been appointed within 45 days of the Collateral Agent’s resignation or removal, the Collateral Agent may) appoint a successor agent for the Secured Parties, which successor agent shall be reasonably acceptable to Grantor, whereupon such
successor agent shall succeed to the rights, powers and duties of the “Collateral Agent,” and the term “Collateral Agent” shall mean such successor agent effective upon its appointment, and the former Collateral
Agent’s rights, powers and duties as Collateral Agent shall be terminated, without any other or further act or deed on the part of such former Collateral Agent (except that the resigning Collateral Agent shall deliver all Mortgaged Property
then in its possession to the successor Collateral Agent) or any of the other Secured Parties. The indemnities given the Collateral Agent under this Deed of Trust shall survive any resignation or removal of the Collateral Agent hereunder. After any
retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of this Deed of Trust shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent. In the event
that a successor Collateral Agent is not appointed within the time period specified in this Section following the provision of a notice of resignation or removal of the Collateral Agent, the 

  
 36 

 
Collateral Agent or any Secured Party may petition a court of competent jurisdiction for the appointment of a successor Collateral Agent. Any Person serving as Collateral Agent (including any
successor Collateral Agent) shall be a corporation organized and doing business under the laws of the United States of America or any state thereof, authorized under such laws to exercise corporate trust powers, having (or whose obligations are
unconditionally guaranteed by a corporation having) total assets of at least $50,000,000 and subject to supervision or examination by federal or state authority. 
  

	18.	APPOINTMENT OF CO-COLLATERAL AGENT 

 (a) Notwithstanding any other provisions of this
Deed of Trust, at any time, for the purpose of meeting any legal requirement of any jurisdiction in which any part of the Mortgaged Property may at the time be located, the Collateral Agent shall have the power and may execute and deliver all
instruments necessary to appoint one or more Persons to act as a co-collateral agent or separate collateral agent or separate collateral agents, of all or any part of the Mortgaged Property, and to vest in such Person or Persons, in such capacity
and for the benefit of the Secured Parties, such title to the Mortgaged Property, or any part hereof, and subject to the other provisions of this Section, such powers, duties, obligations, and rights as the Collateral Agent may consider necessary or
desirable. No co-collateral agent or separate collateral agent hereunder shall be required to meet the terms of eligibility as a successor Collateral Agent under Section 17, and no notice to the Secured Parties of the appointment of any
co-collateral agent or separate collateral agent shall be required under Section 17. 
 (b) Every separate collateral agent and
co-collateral agent shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions: 

(i) all rights, powers, duties and obligations conferred or imposed upon the Collateral Agent shall be conferred or imposed
upon and exercised or performed by the Collateral Agent and such separate collateral agent or co-collateral agent jointly (it being understood that such separate collateral agent or co-collateral agent is not authorized to act separately without the
Collateral Agent joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Collateral Agent shall be incompetent or unqualified to perform such act or acts, in which
event such rights, powers, duties and obligations (including the holding of title to the Mortgaged Property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate collateral agent or co-collateral
agent, but solely at the direction of the Collateral Agent; 
 (ii) no collateral agent shall be personally liable by reason
of any act or omission of any other collateral agent under this Deed of Trust; and 
 (iii) the Collateral Agent may at any
time accept the resignation of or remove any separate collateral agent or co-collateral agent. 
 (c) Any notice, request or other writing
given to the Collateral Agent shall be deemed to have been given to each of the then separate collateral agents and co-collateral agents, as effectively as if given to each of them. Every instrument appointing any separate collateral agent

  
 37 

 
or co-collateral agent shall refer to this Deed of Trust. Each separate collateral agent and co-collateral agent, upon its acceptance of the obligations conferred, shall be vested with the
estates or property specified in its instrument of appointment, either jointly with the Collateral Agent or separately, as may be provided therein, subject to all the provisions of this Deed of Trust, specifically including every provision of this
Deed of Trust relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Collateral Agent. Every such instrument shall be
filed with the Collateral Agent. 
 (d) Any separate collateral agent or co-collateral agent may at any time constitute the Collateral Agent
its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Deed of Trust on its behalf and in its name. If any separate collateral agent or co-collateral agent
shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and obligations shall vest in and be exercised by the Collateral Agent, to the extent permitted by law, without the appointment of a new or
successor collateral agent. 
  

	19.	ENFORCEMENT EXPENSES; INDEMNIFICATION 

 (a) Grantor agrees to pay, or reimburse each
Secured Party and Collateral Agent for, all its reasonable and documented out-of-pocket expenses incurred in collecting against Grantor or otherwise enforcing or preserving any rights under this Deed of Trust, including, without limitation, the
reasonable fees and disbursements of one counsel to the Secured Parties and one counsel and one local counsel to Collateral Agent (unless in the good faith opinion of the Collateral Agent or such counsel it would be inappropriate under applicable
standards of legal professional conduct due to an actual or potential conflict of interest, to have only one counsel), but only, in the case of the Credit Agreement Secured Parties and the Indenture Notes Secured Parties, to the extent provided in
Section 8.05 of the Credit Agreement and in Section 1007 of each of the Indentures, respectively. 
 (b) Grantor agrees to pay,
and to save Collateral Agent and the Secured Parties harmless from, any and all liabilities with respect to, or resulting from any delay in paying, any and all stamp, excise, sales or other taxes that may be payable or determined to be payable with
respect to any of the Mortgaged Property or in connection with any of the transactions contemplated by this Deed of Trust. 
 (c) Grantor
agrees to pay, and to save Collateral Agent and the Secured Parties harmless from, any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with
respect to the execution, delivery, enforcement, performance and administration of this Deed of Trust, but only, in the case of the Credit Agreement Secured Parties and the Indenture Notes Secured Parties, to the extent the Company would be required
to do so pursuant to Section 8.05 of the Credit Agreement and pursuant to Section 1007 of each of the Indentures. 
 (d) The
agreements in this Section shall survive repayment of the Obligations and all other amounts payable. 

  
 38 

	20.	RELEASE RIGHTS 

 Grantor shall be entitled to the release of Mortgaged Property from the
Lien of this Deed of Trust on the following terms and conditions: 
 20.1 Dispositions without Release. Unless an Event of Default
shall have occurred and be continuing, Grantor may at any time and from time to time, without any release or consent by, or report to, Collateral Agent or any of Secured Parties: 

(a) sell or otherwise dispose of, free from the Lien of this Deed of Trust, any machinery, equipment, apparatus, towers, transformers, poles,
lines, cables, conduits, ducts, conductors, meters, regulators, holders, tanks, retorts, purifiers, odorizers, scrubbers, compressors, valves, pumps, mains, pipes, service pipes, fittings, connections, services, tools, implements, or any other
fixtures or personalty, then subject to the Lien of this Deed of Trust, which shall have become old, inadequate, obsolete, worn out, unfit, unadapted, unserviceable, undesirable or unnecessary for use in the operations of Grantor upon replacing the
same by, or substituting for the same, similar or analogous property, or other property performing a similar or analogous function or otherwise obviating the need therefor, having a Fair Value to Grantor at least equal to that of the property sold
or otherwise disposed of and subject to the Lien of this Deed of Trust, subject to no Liens prior hereto except Permitted Liens; 
 (b)
cancel or make changes or alterations in or substitutions for any and all easements, servitudes, rights-of-way and similar rights and/or interests; and 

(c) grant, free from the Lien of this Deed of Trust, easements, ground leases or rights-of-way in, upon, over and/or across the property or
rights-of-way of Grantor for the purpose of roads, pipe lines, transmission lines, distribution lines, communication lines, railways, removal or transportation of coal, lignite, gas, oil or other minerals or timber, and other like purposes, or for
the joint or common use of real property, rights-of-way, facilities and/or equipment; provided, however, that such grant shall not materially impair the use of the property or rights-of-way for the purposes for which such property or rights-of-way
are held by Grantor. 
 20.2 Release of Funded Mortgaged Property. Unless an Event of Default shall have occurred and be continuing,
Grantor may obtain the release of any part of the Mortgaged Property, or any interest therein, other than Funded Cash held by Collateral Agent, and Collateral Agent shall release all its right, title and interest in and to the same from the Lien
hereof, upon receipt by Collateral Agent of: 
 (a) a Grantor Order requesting the release of such property and transmitting therewith a form
of instrument or instruments to effect such release; 
 (b) an Officer’s Certificate stating that, to the knowledge of the signer, no
Event of Default has occurred and is continuing; 
 (c) an Expert’s Certificate made and dated not more than ninety (90) days
prior to the date of such Grantor Order: 
 (i) describing the property to be released; 

  
 39 

 (ii) stating the Fair Value, in the judgment of the signers, of the property to
be released; 
 (iii) stating the Cost of the property to be released (or, if the Fair Value to Grantor of such property at
the time the same became Funded Property was certified to be an amount less than the Cost thereof, then such Fair Value, as so certified, in lieu of Cost); and 

(iv) stating that, in the judgment of the signers, such release will not impair the security under this Deed of Trust; 

(d) an amount in cash to be held by Collateral Agent as part of the Mortgaged Property, equal to the amount, if any, by which the Fair Value
exceeds the aggregate of the following items: 
 (i) an amount equal to the aggregate principal amount of any obligations
secured by Purchase Money Lien delivered to Collateral Agent, to be held as part of the Mortgaged Property, subject to the limitations hereafter in this Section 20.2 set forth; 

(ii) an amount equal to the Cost or Fair Value to Grantor (whichever is less), after making any deductions and any additions
pursuant to the definition of Property Additions, of any Property Additions not constituting Funded Property described in an Expert’s Certificate, dated not more than ninety (90) days prior to the date of Grantor Order requesting such
release and complying with clause (ii) and, to the extent applicable, clause (iii) in Section 22.2(b), delivered to Collateral Agent; provided, however, that the deductions and additions contemplated by the definition of Property
Additions shall not be required to be made if such Property Additions were acquired, made or constructed on or after the ninetieth (90th) day preceding the date of such Grantor Order; 

(iii) an amount equal to 23/20 of an aggregate principal amount of Additional Obligations the securing of which Grantor shall
be entitled to under the provisions of Section 22.3, by virtue of compliance with all applicable provisions of Section 22.3 (except as hereinafter in this Section 20.2 otherwise provided); provided, however, that such release shall
operate as a waiver by Grantor of the right to secure such amount of Additional Obligations and, to such extent, such amount of Additional Obligations may not thereafter be secured hereunder; and any Available Bond Credits which were the basis of
such right to secure such amount of Additional Obligations so waived shall be deemed to have been made the basis of such release of property; 

(iv) an amount in cash and/or an amount equal to the aggregate principal amount of any obligations secured by Purchase Money
Lien that, in either case, is evidenced to Collateral Agent by a certificate of the trustee or other holder of a Lien prior to the Lien of this Deed of Trust to have been received by such trustee or other holder in accordance with the provisions of
such Lien in consideration for the release of such property or any part thereof from such Lien, all subject to the limitations hereafter in this Section 20.2 set forth; 

  
 40 

 (v) any taxes and expenses incidental to any sale, exchange, dedication or other
disposition of the property to be released; 
 provided, however, that no obligations secured by Purchase Money Lien upon any property being released from
the Lien hereof shall be used as a credit in connection with such release unless all obligations secured by such Purchase Money Lien shall be delivered to Collateral Agent or to the trustee or other holder of a Lien prior to the Lien of this Deed of
Trust; 
 (e) if the release is on the basis of Property Additions or on the basis of the right to secure Additional Obligations under
Section 22.3, all documents contemplated below in this Section 20.2; and 
 (f) if the release is on the basis of the delivery to
Collateral Agent or to the trustee or other holder of a prior Lien of obligations secured by Purchase Money Lien, all documents contemplated below in this Section 20.2, to the extent required. 

If and to the extent that the release of property is, in whole or in part, based upon Property Additions permitted under the provisions of
clause (d)(ii) of this Section 20.2, Grantor shall, subject to the provisions of said clause (d)(ii) and except as hereafter in this paragraph provided, comply with all applicable provisions of this Deed of Trust as if such Property Additions
were to be made the basis of securing Additional Obligations equal in principal amount to the Fair Value of that portion of the property to be released which is to be released on the basis of such Property Additions, as shown by the Expert’s
Certificate required by clause (c) in the first paragraph of this Section 20.2; provided, however, that the Cost of any Property Additions received or to be received by Grantor in whole or in part as consideration in exchange for the
property to be released shall for all purposes of this Deed of Trust be deemed to be the amount stated in the Expert’s Certificate provided for in clause (c) in the first paragraph of this Section 20.2 to be the Fair Value of the
property to be released (x) plus the amount of any cash and the fair market value of any other consideration, further to be stated in such Expert’s Certificate, paid and/or delivered or to be paid and/or delivered by, and the amount of any
obligations assumed or to be assumed by, Grantor in connection with such exchange as additional consideration for such Property Additions, and/or (y) less the amount of any cash and the fair market value of any other consideration, which shall
also be stated in such Expert’s Certificate, received or to be received by Grantor in connection with such exchange, in addition to such Property Additions. If and to the extent that the release of property is in whole or in part based upon the
right to secure Additional Obligations under Section 22.3 (to the extent permitted under the provisions of clause (d)(iii) in the first paragraph of this Section), Grantor shall, except as hereafter in this paragraph provided, comply with all
applicable provisions of Section 22.3 relating to such securing of Additional Obligations. 
 If the release of property is, in whole
or in part, based upon the delivery to Collateral Agent or the trustee or other holder of a Lien that is senior to the Lien of this Deed of Trust of obligations secured by Purchase Money Lien, Grantor shall deliver to Collateral Agent: 

(x) an Officer’s Certificate (i) stating that no event has occurred and is continuing which entitles the holder of
such Purchase Money Lien to accelerate the maturity of the obligations, if any, outstanding thereunder and (ii) reciting the aggregate principal amount of obligations, if any, then outstanding thereunder in addition to the obligations then
being delivered in connection with the release of such property and the terms and conditions, if any, on which additional obligations secured by such Purchase Money Lien are permitted to be issued; and 

  
 41 

 (y) an Opinion of Counsel stating that, in the opinion of the signer,
(i) such obligations are valid obligations, entitled to the benefit of such Purchase Money Lien equally and ratably with all other obligations, if any, then outstanding thereunder, (ii) that such Purchase Money Lien constitutes, or, upon
the delivery of, and/or the filing and/or recording in the proper places and manner of, the instruments of conveyance, assignment or transfer, if any, specified in such opinion, will constitute, a Lien upon the property to be released, subject to no
Lien prior thereto except Liens generally of the character of Permitted Liens and such Liens, if any, as shall have existed thereon immediately prior to such release as Liens prior to the Lien of this Deed of Trust, (iii) if any obligations in
addition to the obligations being delivered in connection with such release of property are then outstanding, or are permitted to be issued, under such Purchase Money Lien, (A) that such Purchase Money Lien constitutes, or, upon the delivery
of, and/or the filing and/or recording in the proper places and manner of, the instruments of conveyance, assignment or transfer, if any, specified in such opinion, will constitute, a Lien upon all other property, if any, purporting to be subject
thereto, subject to no Lien prior thereto except Liens generally of the character of Permitted Liens and (B) that the terms of such Purchase Money Lien, as then in effect, do not permit the issuance of obligations thereunder except on the basis
of property generally of the character of Property Additions, the retirement or deposit of outstanding obligations, the deposit of prior Lien obligations or the deposit of cash. 

If the Opinion of Counsel provided to Collateral Agent pursuant to clause (y) above is conditioned upon the filing and/or recording of
any instruments of conveyance, assignment or transfer, Grantor shall promptly cause such instruments to be filed and/or recorded in the proper places and manner and shall deliver to Collateral Agent evidence of such filing and/or recording promptly
upon receipt of such evidence by Grantor. 
 If (a) any property to be released from the Lien of this Deed of Trust under any provision
of this Article (other than Section 20.5) is subject to a Lien that is senior to the Lien hereof and is to be sold, exchanged, dedicated or otherwise disposed of subject to such prior Lien and (b) after such release, such prior Lien will
not be a Lien on any property subject to the Lien hereof, then the Fair Value of such property to be released shall be deemed, for all purposes of this Deed of Trust, to be the value thereof unencumbered by such prior Lien less the principal amount
of the indebtedness secured by such prior Lien. 
 Any cash and/or obligations deposited with Collateral Agent pursuant to the provisions of
this Section 20.2, and the proceeds of any such obligations, shall be held as part of the Mortgaged Property, and shall be withdrawn, released, used or applied in the manner, to the extent and for the purposes, and subject to the conditions,
provided in Section 21. 

  
 42 

 Anything in this Deed of Trust to the contrary notwithstanding, if property to be released
constitutes Funded Property in part only, Grantor shall obtain the release of the part of such property which constitutes Funded Property under this Section 20.2, and obtain the release of the part of such property which does not constitute
Funded Property under Section 20.3. In such event, (a) the application of Property Additions in the release under this Section 20.2 as contemplated in clause (d)(ii) in the first paragraph thereof shall be taken into account in clause
(v) or clause (vi), whichever may be applicable, of the Expert’s Certificate described in clause (c) in Section 20.3 and (b) Collateral Agent shall, at the election of Grantor, execute and deliver a separate instrument of
release with respect to the property released under each of such Sections or a consolidated instrument of release with respect to the property released under both of such Sections considered as a whole. 

20.3 Release of Mortgaged Property Not Constituting Funded Property. Unless an Event of Default shall have occurred and be continuing,
Grantor may obtain the release of any part of the Mortgaged Property, or any interest therein, which does not constitute Funded Property, and Collateral Agent shall release all its right, title and interest in and to the same from the Lien hereof,
upon receipt by Collateral Agent of: 
 (a) a Grantor Order requesting the release of such property and transmitting therewith a form of
instrument or instruments to effect such release; 
 (b) an Officer’s Certificate describing the property to be released and stating
that, to the knowledge of the signer, no Event of Default has occurred and is continuing; 
 (c) an Expert’s Certificate, made and
dated not more than ninety (90) days prior to the date of such Grantor Order: 
 (i) describing the property to be
released; 
 (ii) stating the Fair Value, in the judgment of the signers, of the property to be released; 

(iii) stating the Cost of the property to be released; 

(iv) stating that the property to be released does not constitute Funded Property; 

(v) if true, stating either (A) that the aggregate amount of the Cost or Fair Value to Grantor (whichever is less) of all
Property Additions which do not constitute Funded Property (excluding the property to be released), after making deductions therefrom and additions thereto of the character contemplated by the definition of Property Additions, is not less than zero
(0), or (B) that the Cost or Fair Value (whichever is less) of the property to be released does not exceed the aggregate Cost or Fair Value to Grantor (whichever is less) of Property Additions acquired, made or constructed on or after the
ninetieth (90th) day prior to the date of Grantor Order requesting such release; 

  
 43 

 (vi) if neither of the statements contemplated in subclause (v) above can be
made, stating the amount by which zero (0) exceeds the amount referred to in subclause (v)(A) above (showing in reasonable detail the calculation thereof); and 

(vii) stating that, in the judgment of the signers, such release will not impair the security under this Deed of Trust; and

 (d) if the Expert’s Certificate required by clause (c) above contains neither of the statements contemplated in subclause
(c)(v) above, an amount in cash, to be held by Collateral Agent as part of the Mortgaged Property, equal to the amount, if any, by which the lower of (i) the Cost or Fair Value (whichever shall be less) of the property to be released, and
(ii) the amount shown in subclause (c)(vi) above, exceeds the aggregate of items of the character described in subclause (iii) of clause (d) in the first paragraph of Section 20.2 that Grantor then elects to use as a credit under
this Section 20.3 (subject, however, to the same limitations and conditions with respect to such item as are set forth in Section 20.2). 

20.4 Release of Minor Properties. Notwithstanding the provisions of Sections 20.2 and 20.3, unless an Event of Default shall have
occurred and be continuing, Grantor may obtain the release from the Lien of this Deed of Trust of any part of the Mortgaged Property, or any interest therein, and Collateral Agent shall whenever from time to time requested by Grantor in a Grantor
Order transmitting therewith a form of instrument or instruments to effect such release, and without requiring compliance with any provisions of Sections 20.2 and 20.3, release from the Lien of this Deed of Trust all the right, title and interest of
Collateral Agent and Secured Parties in and to the same provided that the aggregate Fair Value of the property to be so released on any date in a given calendar year, together with all other property theretofore released pursuant to this
Section 20.4 in such calendar year, shall not exceed the greater of (a) Ten Million Dollars ($10,000,000) and (b) three percent (3%) of the aggregate principal amount of the Obligations then Outstanding. Prior to the granting of
any such release, there shall be delivered to Collateral Agent (x) an Officer’s Certificate stating that, to the knowledge of the signer, no Event of Default has occurred and is continuing and (y) an Expert’s Certificate stating,
in the judgment of the signers, the Fair Value of the property to be released, the aggregate Fair Value of all other property theretofore released pursuant to this Section 20.4 in such calendar year and, as to Funded Property, the Fair Value
thereof, and that, in the judgment of the signers, the release thereof will not impair the security under this Indenture. On or before December 31st of each calendar year, Grantor shall deposit with Collateral Agent an amount in cash equal to
the aggregate Cost of the properties constituting Funded Property so released during such year (or, if the Fair Value to Grantor of any particular property at the time the same became Funded Property was certified to be an amount less than the Cost
thereof, then such Fair Value, as so certified, in lieu of Cost); provided, however, that no such deposit shall be required to be made hereunder to the extent that cash or other consideration shall, as indicated in an Officer’s Certificate
delivered to Collateral Agent, have been deposited with the trustee or other holder of Lien prior to the Lien of this Deed of Trust in accordance with the provisions thereof; and provided, further, that the amount of cash so required to be deposited
may be reduced, at the election of Grantor, by the items specified in clause (d) in the first paragraph of Section 20.2 subject to all of the limitations and conditions specified in such Section, to the same extent as if such property were
being released pursuant to Section 20.2. Any cash deposited with Collateral Agent under this Section 20.4 may thereafter be withdrawn, used or applied in the manner, to the extent and for the purposes, and subject to the conditions,
provided in Section 21. 

  
 44 

 20.5 Release of Property Taken by Eminent Domain, etc. Should any of the Mortgaged
Property, or any interest therein, be taken by exercise of the power of eminent domain or be sold to an entity possessing the power of eminent domain under a threat to exercise the same, and should Grantor elect not to obtain the release of such
property pursuant to other provisions of this Section 20, Collateral Agent shall, upon request of Grantor transmitting therewith a form of instrument or instruments to effect such release, release from the Lien of this Deed of Trust all its
right, title and interest in and to the property so taken or sold (or with respect to an interest in property, subordinate the Lien of this Deed of Trust to such interest), upon receiving (a) an Opinion of Counsel to the effect that such
property has been taken by exercise of the power of eminent domain or has been sold to an entity possessing the power of eminent domain under threat of an exercise of such power, and (b) an Officer’s certificate stating the amount of net
proceeds received or to be received for the Funded Property so taken or sold, and the amount so stated shall be deemed to be the Fair Value of such Funded Property for the purpose of any notice to the Secured Parties and (c) an amount in cash
equal to such net proceeds. Any cash deposited with Collateral Agent under this Section 20.5 may thereafter be withdrawn, used or applied in the manner, to the extent and for the purposes, and subject to the conditions, provided in
Section 21. 
 20.6 Disclaimer or Quitclaim. If Grantor has sold, exchanged, dedicated or otherwise disposed of, or has agreed
or intends to sell, exchange, dedicate or otherwise dispose of, or a Governmental Authority has ordered Grantor to divest itself of, any Excepted Property or any other property not subject to the Lien of this Deed of Trust or to which Grantor does
not purport to have an interest and Grantor desires to disclaim or quitclaim title to such property, Collateral Agent shall, upon request of Grantor transmitting therewith a form of instrument or instruments to effect such disclaimer or quitclaim,
disclaim or quitclaim such property upon receiving an Officer’s Certificate describing the property to be discharged or quitclaimed and certifying that such Property is either Excepted Property or property not subject to the Lien of this Deed
of Trust. 
 20.7 Other Releases. Unless an Event of Default shall have occurred and be continuing, Grantor may obtain the release
from the Lien of this Deed of Trust of other properties that are a part of the Mortgaged Property provided that, after any such release, the aggregate Fair Value of the remaining properties constituting the Mortgaged Property equals or exceeds 23/20
of the Outstanding Obligations. Collateral Agent shall, upon written request by Grantor for such release, accompanied by an Independent Expert’s Certificate of the remaining value of the Mortgaged Property and a form of instrument or
instruments to effect such release, release such other properties from the Lien of this Deed of Trust. 
 20.8 Full Release. Upon
payment and performance of all of the Obligations, Collateral Agent, at Grantor’s expense, shall release the Liens and security interests of this Deed of Trust against the Mortgaged Property. Further, if the Credit Agreement Obligations have
been fully paid and performed and the Indenture Notes Obligations have not been paid and performed but no Indenture Notes Event of Default has occurred and is continuing, then Collateral Agent, at the request of Grantor, and at Grantor’s
expense, shall release the Liens and security interests of the Deed of Trust against the Mortgaged Property. 

  
 45 

 20.9 Miscellaneous. 

(a) The Expert’s Certificate as to the Fair Value of property to be released from the Lien of this Deed of Trust in accordance with any
provision of this Section 20, and as to the nonimpairment, by reason of such release, of the security under this Deed of Trust in contravention of the provisions hereof, shall be made by an Independent Expert if the Fair Value of such property
and of all other property released since the commencement of the then current calendar year, as set forth in the certificates required by this Deed of Trust, is ten percent (10%) or more of the aggregate principal amount of the Obligations at
the time Outstanding; but such Expert’s Certificate shall not be required to be made by an Independent Expert in the case of any release of property if the Fair Value thereof, as set forth in the certificates required by this Deed of Trust, is
less than Twenty-five Thousand Dollars ($25,000) or less than one percent (1%) of the aggregate principal amount of the Obligations at the time Outstanding. To the extent that the Fair Value of any property to be released from the Lien of this
Deed of Trust shall be stated in an Independent Expert’s Certificate, such Fair Value shall not be required to be stated in any other Expert’s Certificate delivered in connection with such release. 

(b) No release of property from the Lien of this Deed of Trust effected in accordance with the provisions, and in compliance with the
conditions, set forth in this Section 20 and in Section 23 and Section 26 shall be deemed to impair the security of this Deed of Trust in contravention of any provision hereof. 

(c) If the Mortgaged Property shall be in the possession of a receiver or trustee, lawfully appointed, the powers of Grantor with respect to
the release of any part of the Mortgaged Property or any interest therein may be exercised by such receiver or trustee, notwithstanding that an Event of Default may have occurred and be continuing, and any request, certificate, appointment or
approval made or signed by such receiver or trustee for such purposes shall be as effective as if made by Grantor or any of its officers or appointees in the manner herein provided; and if Collateral Agent shall be in possession of the Mortgaged
Property under any provision of this Deed of Trust, then such powers may be exercised by Collateral Agent notwithstanding that an Event of Default may have occurred and be continuing. 

(d) If Grantor shall retain any interest in any property released from the Lien of this Deed of Trust as provided in this Section 20.2,
Section 20.3, or Section 20.4, this Deed of Trust shall not become or be, or be required to become or be, a Lien upon such property or such interest therein or any improvements, extensions or additions to such property or renewals,
replacements or substitutions of or for such property or any part or parts thereof unless Grantor shall execute and deliver to Collateral Agent an amendment of this Deed of Trust, in recordable form, containing a grant, conveyance, transfer and
mortgage thereof. 
 (e) Notwithstanding the occurrence and continuance of an Event of Default, Collateral Agent, in its discretion, may
release from the Lien hereof any part of the Mortgaged Property or permit the withdrawal of cash, upon compliance with the other conditions specified in this Article in respect thereof. 

  
 46 

 (f) No purchaser or grantee of property purporting to have been released hereunder shall be bound
to ascertain the authority of Collateral Agent to execute the instrument or instruments of release, or to inquire as to any facts required by the provisions hereof for the exercise of such authority; nor shall any purchaser or grantee of any
property or rights permitted by this Section 20 to be sold, granted, exchanged, dedicated or otherwise disposed of, be under obligation to ascertain or inquire into the authority of Grantor to make any such sale, grant, exchange, dedication or
other disposition. 
 (g) At the request and sole expense of Grantor following any permitted release of all Liens created hereby, the
Collateral Agent shall deliver to Grantor any Collateral held by the Collateral Agent hereunder, and execute and deliver to Grantor such documents as Grantor shall reasonably request to evidence such release. 

The rights to release of Mortgaged Property set forth in Section 20 shall be applicable to and binding on Collateral Agent and on the Credit Agreement
Secured Parties, the Indenture Notes Secured Parties, and the Secured Parties with respect to any Additional Obligations, to the same effect as if made a part of the Credit Agreement, the Indentures, and the terms of any Additional Obligations. 

 

	21.	WITHDRAWAL OR OTHER APPLICATION OF FUNDED CASH; PURCHASE MONEY OBLIGATIONS 

 Subject to
the provisions of Section 22.4 and except as hereafter in this Section provided, unless an Event of Default shall have occurred and be continuing, any Funded Cash held by Collateral Agent, and any other cash which is required to be withdrawn,
used or applied as provided in this Section, 
 (a) may be withdrawn from time to time by Grantor to the extent of an amount equal to the
Cost or the Fair Value to Grantor (whichever is less) of Property Additions not constituting Funded Property, after making any deductions and additions pursuant to the definition of Property Additions, described in an Expert’s Certificate dated
not more than ninety (90) days prior to the date of Grantor Order requesting such withdrawal and complying with clause (ii) and, to the extent applicable, clause (iii) in Section 22.2(b), delivered to Collateral Agent; provided,
however, that the deductions and additions contemplated by the definition of Property Additions shall not be required to be made if such Property Additions were acquired, made or constructed on or after the ninetieth (90th) day preceding the
date of such Grantor Order; 
 (b) may be withdrawn from time to time by Grantor in an amount equal to the aggregate principal amount of
Additional Obligations the securing of which Grantor shall be entitled to under the provisions of Section 22.3 hereof, by virtue of compliance with all applicable provisions of Section 22.3 (except as hereinafter in this Section otherwise
provided); provided, however, that such withdrawal of cash shall operate as a waiver by Grantor of the right to secure such Additional Obligations and, to such extent, no such Additional Obligations may thereafter be secured hereunder and any such
Additional Obligations shall be deemed to have been made the basis of such withdrawal of cash; 

  
 47 

 (c) may be withdrawn from time to time by Grantor in an amount equal to the aggregate principal
amount of any Outstanding Obligations delivered to Collateral Agent; 
 (d) may, upon the request of Grantor, be used by Collateral Agent
for the purchase or payment of Obligations in the manner, at the time or times, in the amount or amounts, at the price or prices and otherwise as directed or approved by Grantor, all subject to the limitations hereafter in this Section 21 set
forth; or 
 (e) may, upon the request of Grantor, be applied by Collateral Agent to the payment at maturity of any Obligations or to the
redemption (or similar provision therefor) of any Obligations which are, by their terms, redeemable, in each case of such series as may be designated by Grantor, any such redemption to be in the manner and as provided in Article Five of each of the
Indentures, all subject to the limitations hereafter in this Section set forth. 
 Such moneys shall, from time to time, be paid or used or
applied by Collateral Agent, as aforesaid, upon the request of Grantor in a Grantor Order, and upon receipt by Collateral Agent of an Officer’s Certificate stating that, to the knowledge of the signer, no Event of Default has occurred and is
continuing. If and to the extent that the withdrawal of cash is based upon Property Additions (as permitted under the provisions of clause (a) above), Grantor shall, subject to the provisions of said clause (a) and except as hereinafter in
this paragraph provided, comply with all applicable provisions of this Deed of Trust as if such Property Additions were made the basis for securing Additional Obligations equal in principal amount to the cash so to be withdrawn. If and to the extent
that the withdrawal of cash is based upon the right to secure Additional Obligations (as permitted under the provisions of clause (b) above), Grantor shall, except as hereafter in this paragraph provided, comply with all applicable provisions
of Section 22.3 relating to such securing of Additional Obligations. 
 Notwithstanding the generality of clauses (d) and
(e) above, no cash to be applied pursuant to such clauses shall be applied to the payment of an amount in excess of the principal amount of any Obligations to be purchased, paid or redeemed except to the extent that the aggregate principal
amount of all Obligations theretofore, and of all Obligations then to be, purchased, paid or redeemed pursuant to such clauses is not less than the aggregate cost for principal of, premium, if any, and accrued interest, if any, on and brokerage
commissions, if any, with respect to, such Obligations. 
 Any Outstanding Obligations delivered to Collateral Agent pursuant to clause
(c) in the first paragraph of this Section shall, upon request by Grantor, forthwith be delivered for cancellation as provided by the Indentures, the Credit Agreement, or the terms of any Additional Obligations. 

Any obligations secured by a Purchase Money Lien delivered to Collateral Agent in consideration of the release of property from the Lien of
this Deed of Trust, together with any evidence of such Purchase Money Lien held by Collateral Agent, shall be released from the Lien of this Deed of Trust and delivered to or upon the order of Grantor upon payment by Grantor to Collateral Agent of
an amount in cash equal to the aggregate principal amount of such obligations less the aggregate amount theretofore paid to Collateral Agent (by Grantor, the obligor or otherwise) in respect of the principal of such obligations. 

  
 48 

 The principal of and interest on any such obligations secured by any Purchase Money Lien held by
Collateral Agent shall be paid to Collateral Agent as and when the same become payable. The interest received by Collateral Agent on any such obligations shall be deemed not to constitute Funded Cash and shall be remitted to Grantor; provided,
however, that if an Event of Default shall have occurred and be continuing, then such proceeds shall be held as part of the Mortgaged Property until such Event of Default shall have been cured or waived. 

Collateral Agent shall have and may exercise all the rights and powers of any owner of such obligations and of all substitutions therefor and,
without limiting the generality of the foregoing, may collect and receive all insurance moneys payable to it under any of the provisions thereof and apply the same in accordance with the provisions thereof, may consent to extensions thereof at a
higher or lower rate of interest, may join in any plan or plans of voluntary or involuntary reorganization or readjustment or rearrangement and may accept and hold hereunder new obligations, stocks or other securities issued in exchange therefor
under any such plan. Any discretionary action which Collateral Agent may be entitled to take in connection with any such obligations or substitutions therefor shall be taken, so long as no Event of Default shall have occurred and be continuing, in
accordance with a Grantor Order, and, during the continuance of an Event of Default, in its own discretion. 
 Anything herein to the
contrary notwithstanding, Grantor may irrevocably waive all right to the withdrawal pursuant to this Section 21 of, and any other rights with respect to, any obligations secured by Purchase Money Lien held by Collateral Agent, and the proceeds
of any such obligations, by delivery to Collateral Agent of a Grantor Order: 
 (x) specifying such obligations and stating
that Grantor thereby waives all rights to the withdrawal thereof and of the proceeds thereof pursuant to this Section, and any other rights with respect thereto; and 

(y) directing that the principal of such obligations be applied as provided in clause (e) in the first paragraph of this
Section 21, specifying the Obligations to be paid or redeemed or for the payment or redemption of which payment is to be made. 
 Following any such
waiver, the interest on any such obligations shall be applied to the payment of interest, if any, on the Obligations to be paid or redeemed or for the payment or redemption of which provision is to be made, as specified in the aforesaid Grantor
Order, as and when such interest shall become due from time to time, and any excess funds remaining from time to time after such application shall be applied to the payment of interest on any other Obligation as and when the same shall become due.
Pending any such application, the interest on such obligations shall be invested in Investment Securities as shall be selected by Grantor and specified in written instructions delivered to Collateral Agent. The principal of any such obligations
shall be applied solely to the payment of principal of the Obligations to be paid or redeemed or for the payment or redemption of which provision is to be made, as specified in the aforesaid Grantor Order. Pending such application, the principal of
such obligations shall be invested in Government Obligations, or Investment Securities as shall be selected by Grantor and specified in written instructions delivered to Collateral Agent. The obligation of Grantor to pay the principal of such
Obligations when the same shall become due at maturity, shall be offset and reduced by the amount of the proceeds of such obligations then held, and to be applied, by Collateral Agent in accordance with this Section 21. 

  
 49 

	22.	SECURING ADDITIONAL OBLIGATIONS 

 22.1 General. Collateral Agent shall permit
securing Additional Obligations, at one time or from time to time in accordance with Grantor Order referred to below, only pursuant to Sections 22.2, 22.3 or 22.4. 

22.2 Securing Additional Obligations on the Basis of Property Additions. 

(a) Additional Obligations may be secured on the basis of Property Additions which do not constitute Funded Property in a principal amount not
exceeding 85% of the Cost or the Fair Value to Grantor of such Property Additions (whichever shall be less) after making any deductions and any additions pursuant to clause (b) of the definition of Property Additions. 

(b) Additional Obligations may be secured by Grantor on the basis of Property Additions upon receipt by Collateral Agent of: 

(i) a Grantor Order describing the Additional Obligations being secured and the Secured Parties and Secured Party
Representative with respect thereto; 
 (ii) an Expert’s Certificate dated as of a date not more than ninety
(90) days prior to the date of Grantor Order referring to it, 
 (A) describing the property designated by Grantor, in
its discretion, to be made the basis of securing such Additional Obligations (such description of property to be made by reference, at the election of Grantor, either to specified items, units and/or elements of property or portions thereof, on a
percentage or Dollar basis, or to properties reflected in specified accounts or subaccounts in Grantor’s books of account or portions thereof, on a Dollar basis), and stating the Cost of such property; 

(B) stating that all such property constitutes Property Additions; 

(C) stating that such Property Additions are desirable for use in the conduct of the business, or one of the businesses, of
Grantor; 
 (D) stating that such Property Additions, to the extent of the Cost or Fair Value to Grantor thereof (whichever
is less) to be made the basis of securing such Additional Obligations, do not constitute Funded Property; 
 (E) stating,
except as to Property Additions acquired, made or constructed wholly through the delivery of securities or other property, that the amount of cash forming all or part of the Cost thereof was equal to or more than an amount to be stated therein; 

  
 50 

 (F) briefly describing, with respect to any Property Additions acquired, made or
constructed in whole or in part through the delivery of securities or other property, the securities or other property so delivered and stating the date of such delivery; 

(G) stating what part, if any, of such Property Additions includes property which within six months prior to the date of
acquisition thereof by Grantor had been used or operated by others than Grantor in a business similar to that in which it has been or is to be used or operated by Grantor and stating whether or not, in the judgment of the signers, the Fair Value of
such Property Additions to Grantor, as of the date of such certificate, is less than Twenty-five Thousand Dollars ($25,000) and whether or not such Fair Value is less than one percent (1%) of the aggregate principal amount of Obligations then
Outstanding; 
 (H) stating, in the judgment of the signers, the Fair Value to Grantor, as of the date of such certificate,
of such Property Additions, except any thereof with respect to the Fair Value to Grantor of which a statement is to be made in an Independent Expert’s Certificate pursuant to clause (iii) below; 

(I) stating the amount required to be deducted under clause (b)(i) of the definition of Property Additions and the amounts
elected to be added under clause (b)(ii) of the definition of Property Additions in respect of Funded Property retired by Grantor; 

(J) stating the aggregate principal amount of the Additional Obligations to be secured on the basis of such Property Additions;

 (iii) in case any Property Additions are shown by the Expert’s Certificate provided for in clause (ii) above to
include property which, within six months prior to the date of acquisition thereof by Grantor, had been used or operated by others than Grantor in a business similar to that in which it has been or is to be used or operated by Grantor and such
certificate does not show the Fair Value thereof to Grantor, as of the date of such certificate, to be less than Twenty-five Thousand Dollars ($25,000) or less than one percent (1%) of the aggregate principal amount of Obligations then
Outstanding, an Independent Expert’s Certificate stating, in the judgment of the signer, the Fair Value to Grantor, as of the date of such Independent Expert’s Certificate, of (X) such Property Additions which have been so used or
operated and (at the option of Grantor) as to any other Property Additions included in the Expert’s Certificate provided for in clause (ii) above and (Y) in case such Independent Expert’s Certificate is being delivered in
connection with securing Additional Obligations, any property so used or operated which has been subjected to the Lien of this Deed of Trust since the commencement of the then current calendar year as the basis for securing Additional Obligations
and as to which an Independent Expert’s Certificate has not previously been furnished to Collateral Agent; 
 (iv) in
case any Property Additions are shown by the Expert’s Certificate provided for in clause (ii) above to have been acquired, made or constructed in whole or in part through the delivery of securities or other property, an Expert’s
Certificate stating, in the judgment of the signers, the fair market value in cash of such securities or other property at the time of delivery thereof in payment for or for the acquisition of such Property Additions; 

  
 51 

 (v) an Opinion of Counsel to the effect that: (A) this Deed of Trust
constitutes, or, upon the delivery of, and/or the filing and/or recording in the proper places and manner of, the instruments of conveyance, assignment or transfer, if any, specified in said opinion, will constitute, a Lien on all the Property
Additions to be made the basis of securing such Additional Obligations, subject to no Lien thereon prior to the Lien of this Deed of Trust; (B) Grantor has corporate authority to operate such Property Additions; and 

(vi) copies of the instruments of conveyance, assignment and transfer, if any, specified in the Opinion of Counsel provided for
in clause 22.2(b)(v) above. 
 22.3 Securing Additional Obligations on the Basis of Available Bond Credits. 

(a) Additional Obligations may be secured on the basis of, and in an aggregate principal amount not exceeding the aggregate principal amount
of, Available Bond Credits. 
 (b) Additional Obligations shall be secured on the basis of Available Bond Credits upon receipt by Collateral
Agent of: 
 (i) a Grantor Order describing the Additional Obligations being secured and identifying the Secured Parties and
Secured Party Representative with respect thereto; and 
 (ii) an Officer’s Certificate stating that Available Bond
Credits, in an aggregate principal amount not less than the aggregate principal amount of Additional Obligations to be secured, exist as of the date of such Officer’s Certificate, showing the calculation thereof, and that such Additional Bond
Credits are the basis for securing such Additional Obligations. 
 22.4 Securing Additional Obligations on the Basis of Deposit of
Cash. 
 (a) Additional Obligations may be secured on the basis of, and in an aggregate principal not exceeding the amount of, any cash
deposited with Collateral Agent for such purpose. 
 (b) Additional Obligations shall be secured on the basis of the deposit of cash when
Collateral Agent shall have received such deposit and a Grantor Order describing the Additional Obligations being secured and the Secured Parties and Secured Party Representative with respect thereto. 

(c) All cash deposited with Collateral Agent under the provisions of this Section, shall be held by Collateral Agent as a part of the
Mortgaged Property and may be withdrawn from time to time by Grantor, upon application of Grantor to Collateral Agent, in an amount equal to the aggregate principal amount of Additional Obligations the securing of which Grantor shall be entitled to
under any of the provisions of this Deed of Trust by virtue of compliance with all applicable provisions of this Deed of Trust (except as hereinafter in this subsection (c) otherwise provided). 

  
 52 

 Upon any such application for withdrawal, Grantor shall comply with all applicable provisions of this
Section 22 relating to the securing of Additional Obligations. 
 Any withdrawal of cash under this subsection (c) shall operate as a waiver by
Grantor of its right to secure the Obligations on which it is based, and such Obligations may not thereafter be secured hereunder. Any Property Additions which have been made the basis of any such right to secure Additional Obligations so waived
shall be deemed to have been made the basis of the withdrawal of such cash; any Available Bond Credits which have been made the basis of any such right to secure Additional Obligations so waived shall be deemed to have been made the basis of the
withdrawal of such cash; 
 (d) If at any time Grantor shall so direct, any sums deposited with Collateral Agent under the provisions of
this Section 22.4 may be used or applied to the purchase, payment or redemption of Obligations in the manner and subject to the conditions provided in clauses (d) and (e) of Section 21. 

 

	23.	REMEDIES 

 (a) If an Event of Default shall have occurred and be continuing, Collateral
Agent shall, at the direction of the applicable Secured Party or Secured Parties in one or more Secured Party Certificates delivered in accordance with the terms of this Deed of Trust, proceed to protect and enforce its rights and the rights of the
Secured Parties by such judicial proceedings as the applicable Secured Party or Secured Parties shall designate to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Deed of Trust or in aid
of the exercise of any power granted herein, or to enforce any other proper remedy. 
 (b) Upon the occurrence and during the continuance of
any Event of Default and subject to any applicable, grace notice, and cure provision of the Credit Agreement, the Indentures, or the terms of the Additional Obligations, on the direction of the applicable Secured Party or Secured Parties in one or
more Secured Party Certificates delivered in accordance with the terms of this Deed of Trust, Collateral Agent will, at the direction of the applicable Secured Party(ies) and acting as DOT Trustee, sell all, but not less than all of the Mortgaged
Property in accordance with the following procedures: 
 (i) Within thirty (30) days after receipt of one or more
Secured Party Certificates directing a foreclosure sale under this Deed of Trust, Collateral Agent shall publish notices in newspapers of general circulation in Dallas, Texas, Houston, Texas, Austin, Texas, Midland/Odessa, Texas, and Tyler, Texas to
the effect that an Event of Default has occurred under this Deed of Trust and that all of the Mortgaged Property will be sold at a public auction at which only a Person who has, by final, unappealable order of the Public Utility Commission of Texas
(or any successor agency of the State of Texas) (the “PUC”) obtained all necessary approvals (including any necessary certificate of convenience and necessity) to acquire, own, and operate the Mortgaged Property for

  
 53 

 
the transmission of electric power (each, a “Qualified Bidder”) for an amount not less than the minimum sale price agreed on by the Secured Parties, or if no minimum sale
price is agreed on by all of the Secured Parties, then the sum of the outstanding Obligations (the “Minimum Sale Price”). 

(ii) When two or more Qualified Bidders exist and no application is then pending before the PUC for an order and certificate of
convenience and necessity to acquire, own and operate the Mortgaged Property, then the Collateral Agent will sell all, but not less than all, of the Mortgaged Property to the Qualified Bidder that submits the highest cash bid for the Mortgaged
Property; however, the Mortgaged Property may not be sold for an amount less than the Minimum Sale Price. 
 (iii) Such sale
will be for cash only at the county courthouse of any county in the State of Texas in which any of the Mortgaged Property is located, and at a location at such county courthouse as specified by the commissioner’s court of such county, or if no
location is specified by the commissioner’s court, then the sale shall be at the location specified in Collateral Agent’s notice of the sale to Grantor. The sale shall be made at public outcry, between the hours of ten o’clock (10:00)
A.M. and four o’clock (4:00) P.M. on the first (1st) Tuesday in any month. Written or printed notice of the sale shall be posted at the courthouse door in each county in which the real property then subject to this Deed of Trust is
located. The notice shall designate the county where all of the Mortgaged Property shall be sold, the earliest time at which the sale shall occur, and the Minimum Sale Price, and the notice shall be posted at least twenty-one (21) days prior to
the date of sale. The notice shall also be filed with the county clerk in each of the counties in which the land subject to this Deed of Trust is located. Collateral Agent shall, at least twenty-one (21) days preceding the date of sale, serve
written notice of the proposed sale by certified mail on each debtor obligated to pay the Obligations according to the records of the Secured Parties and that notice shall comply in all respects with the Texas Property Code. After such sale,
Collateral Agent shall make to the purchaser or purchasers such assignments, deeds, bills of sale, and other instruments as it is empowered by law to make, in the name of Grantor, conveying all of the Mortgaged Property to the purchaser or
purchasers with special warranty of title by Grantor, but without any representation or warranty of, and without recourse to, Collateral Agent or DOT Trustee. It shall not be necessary to have present or to exhibit at any sale any of the personal
property constituting a portion of the Mortgaged Property. 
 (iv) Grantor shall pay all costs and expenses of Collateral
Agent incurred in connection with protecting, preserving or enforcing of any rights of Collateral Agent hereunder, including but not limited to all attorneys’ fees and court costs incurred in connection therewith. 

Grantor acknowledges that, because the assets comprising the Mortgaged Property were designed and are being used for the transmission and
distribution of electricity, and because of the regulatory regime for the operation of such electric transmission and distribution assets, (i) the Mortgaged Property cannot legally be operated by any Person other than a Qualified Bidder,
(ii) the amount bid for the Mortgaged Property at a foreclosure sale is likely to be higher (and therefore any deficiency following a foreclosure sale is likely to be lower or non-existent) if the requirements of this Section 23(b) are
followed, and (iii) therefore, compliance with the requirements in this Section 23(b) will result in a “public sale” pursuant to Texas Property Code Section 51.002(a). Grantor agrees that it will not challenge or otherwise
interfere with any foreclosure sale held in compliance with the requirements of this Section 23(b) based on any allegation that such foreclosure sale is not a public sale for purposes of Texas Property Code Section 51.002(a) or other Texas
law. 
 (c) In the event of any breach of any of the covenants, agreements, terms or conditions contained in this Deed of Trust, Collateral
Agent, to the extent permitted by applicable law and principles of equity, and in addition to all other rights and remedies the Collateral Agent may have under this Deed of Trust or under applicable law, shall be entitled to enjoin such breach and
obtain specific performance of any such covenant, agreement, term or condition and Collateral Agent shall have the right to invoke any equitable right or remedy as though other remedies were not provided for in this Deed of Trust. 

  
 54 

 (d) It is agreed that any and all proceeds of the Mortgaged Property received by Collateral Agent
shall be held by Collateral Agent for the benefit of the Secured Parties as collateral security for the Obligations (whether matured or unmatured), and shall be applied as follows: 

(i) first, to the payment of all Deed of Trust Obligations, including reasonable and documented costs and expenses
incurred by Collateral Agent in connection with such proceeds or otherwise in connection with this Deed of Trust, the Credit Agreement, the other Credit Documents, the Indenture Notes, the Indentures, or any of the Obligations, including all court
costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by Collateral Agent hereunder or under any other Credit Document or any of the Indenture Notes or the Indentures on behalf of Grantor and
any other reasonable and documented costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Credit Document or any of the Indenture Notes or Indentures or the terms of any Additional
Obligations; 
 (ii) second, to the Credit Agreement Secured Parties, the Indenture Notes Secured Parties, and the
Secured Parties under any Additional Obligations, an amount equal to all Obligations owing to them on the date of any distribution, and, if such moneys shall be insufficient to pay such amounts in full, then ratably as among the Credit Agreement
Secured Parties, the Indenture Notes Secured Parties, and the Secured Parties under any Additional Obligations (without priority of any one over any other) in proportion to the unpaid amounts of Credit Agreement Obligations, the Indenture Notes
Obligations, and the Additional Obligations, with such proceeds to be further distributed (x) as among the Indenture Notes Secured Parties, to such Indenture Notes Secured Parties (or to their applicable Secured Party Representatives) in
proportion to the unpaid Indenture Notes Obligations owing to such Indenture Notes Secured Parties, for application in accordance with the Indentures, (y) as among the Credit Agreement Secured Parties to such Credit Agreement Secured Parties
(or their applicable Secured Party Representatives), for application in accordance with the Credit Agreement, and (z) as among the Secured Parties under any Additional Obligations, to such Secured Parties (or to their applicable Secured Party
Representatives) for application in accordance with the terms of such Additional Obligations; and 
 (iii) third, any
surplus then remaining shall be paid to Grantor or its successors or assigns or to whomsoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct. 

(e) If at any time any moneys collected or received pursuant to this Deed of Trust are distributable pursuant to paragraph (d) above to
the Indenture Trustees, and if any Indenture Trustee shall notify Collateral Agent in writing that no provision is made under the applicable Indenture for the application by such Indenture Trustee of such moneys and that the applicable Indenture
does not effectively provide for the receipt and the holding by such Indenture Trustee 

  
 55 

 
of such moneys and pending the application thereof, then Collateral Agent, after receipt of such moneys and pending the application thereof, and after receipt of such notification, shall at the
direction of such Indenture Trustee, invest such amounts, or, in the absence of such direction, hold such moneys uninvested and shall hold all such amounts so distributable and all such investments and the net proceeds thereof in trust solely for
such Indenture Trustee (in its capacity as trustee) and for no other purpose until such time as such Indenture Trustee shall request in writing the delivery thereof by Collateral Agent for application pursuant to the applicable Indenture. Collateral
Agent shall not be responsible for any diminution in funds resulting from any such investment or any liquidation or any liquidation thereof prior to maturity. If at any time any moneys collected or received pursuant to this Deed of Trust are
distributable pursuant to paragraph (d) above to the Secured Party Representative for any Additional Obligations, and if such Secured Party Representative shall notify Collateral Agent in writing that no provision is made under the terms of
such Additional Obligations for the application by Secured Party Representative of such moneys and that the terms of such Additional Obligations do not effectively provide for the receipt and the holding by the Secured Party Representative of such
moneys pending the application thereof, then Collateral Agent, after receipt of such moneys and pending the application thereof, and after receipt of such notification, shall at the direction of such Secured Party Representative, invest such
amounts, or, in the absence of such direction, hold such moneys uninvested and shall hold all such amounts so distributable and all such investments and the net proceeds thereof in trust solely for such Secured Party Representative (in its capacity
as trustee, paying agent or other representative) and for no other purpose until such time as such Secured Party Representative shall request in writing the delivery thereof by Collateral Agent for application pursuant to the terms of such
Additional Obligations. 
 (f) In making the determination and allocations required by Section 23(d), Collateral Agent may conclusively
rely upon information supplied by each Indenture Trustee as to the amounts of unpaid principal and accrued interest and other amounts outstanding with respect to the Indenture Notes Obligations, information supplied by the Administrative Agent as to
the amounts of unpaid principal and accrued interest and other amounts outstanding with respect to the Credit Agreement Obligations, and information supplied by the applicable Secured Party Representative as to the amounts of unpaid principal,
accrued interest, and other amounts Outstanding with respect to any Additional Obligations, and Collateral Agent shall have no liability to any of the Secured Parties for actions taken in reliance on such information; provided that nothing in this
sentence shall prevent Grantor or a Secured Party from contesting any amounts claimed by any Secured Party in any information so supplied. All distributions made by Collateral Agent pursuant to Section 23(d) shall be (subject to any decree of
any court of competent jurisdiction) final (absent manifest error), and Collateral Agent may make any distribution to the Secured Parties directly to the Secured Party Representatives and the Collateral Agent shall be fully protected in making such
distribution to the Secured Party Representatives and shall have no duty to inquire as to the application by the Indenture Trustees, Collateral Agent, or the applicable Secured Party Representative with respect to the Additional Obligations, of any
amounts distributed to them. 
 (g) If, despite the provisions of this Deed of Trust, any Secured Party shall receive any payment or other
recovery in respect of the Mortgaged Property in excess of its portion of payments on account of the Obligations to which it is then entitled in accordance with this Deed of Trust, such Secured Party shall hold such payment or other recovery in
trust for the benefit of all Secured Parties hereunder for distribution in accordance with Section 23(d). 

  
 56 

 (h) Notwithstanding anything to the contrary herein, nothing in this Deed of Trust shall or shall
be construed to (i) result in the security interest and Lien in the Mortgaged Property securing the Indenture Notes Obligations less than equally and ratably with the Credit Agreement Obligations and any Additional Obligations pursuant to the
Indentures to the extent required under the Indentures or (ii) modify or affect the rights of the Indenture Notes Secured Parties to receive the pro rata share, as specified in Section 23(d)(ii) of this Deed of Trust, of any proceeds of
the Mortgaged Property. 
 (i) The Indenture Notes Obligations, the Credit Agreement Obligations, and any Additional Obligations are, and
will be, equally and ratably secured with each other by the Liens and security interests on the Mortgaged Property under this Deed of Trust, and that it is the intention of the parties hereto and the Credit Agreement Secured Parties, the Indenture
Notes Secured Parties, and the Secured Parties under any Additional Obligations, to give full effect to the equal and ratable provisions of the Indentures, as in effect on the Execution Date. To the extent that the rights and benefits herein
conferred on the Indenture Notes Secured Parties shall be held to be less than the rights and benefits required so to be conferred by such provisions, then such rights and benefits shall be deemed automatically expanded so as to provide the
Indenture Notes Secured Parties with those rights and benefits that are required to be conferred by such provisions. 
 (j) Each Secured
Party, by its acceptance of the benefits of this Deed of Trust, shall be deemed to have agreed that, as among the Secured Parties, the Lien and security interest of each Secured Party in the Mortgaged Property ranks and will rank equally in priority
with the Lien and security interest of the other Secured Parties in the Mortgaged Property, and that the proceeds of the Mortgaged Property which are available for the payment of the Obligations due and payable at any time to the Secured Parties
shall be shared among each of the Secured Parties ratably in proportion to each Secured Party’s respective percentage share of such Obligations, all in accordance with Section 23(d) of this Deed of Trust. 

(k) Each Secured Party, by its acceptance of the benefits of this Deed of Trust, shall be deemed to have acknowledged and agreed that the
Mortgaged Property is vested in and held by the Collateral Agent or its agent (for the benefit of the Secured Parties), and only the Collateral Agent at the instruction of the Required Secured Parties shall have the right to bring any Enforcement
Action in relation to the Mortgaged Property. 
 (l) Each Secured Party, by its acceptance of the benefits of this Deed of Trust, shall be
deemed to have acknowledged and agreed that the Collateral Agent shall administer the Mortgaged Property in the manner contemplated by this Deed of Trust, and the Collateral Agent shall exercise, as directed by the Required Secured Parties in
Secured Party Certificates in accordance with the terms of this Deed of Trust, such rights and remedies with respect to the Mortgaged Property as are granted to it under this Deed of Trust and applicable law. No Secured Party shall have any right
(i) to direct the Collateral Agent to take any action in respect of the Mortgaged Property other than in accordance with the terms hereof or (ii) to take any action with respect to the Mortgaged Property (A) independently of the
Collateral Agent or (B) other than to direct the Collateral Agent, as part of the Required Secured Parties, in writing to take action in accordance with the terms hereof. 

  
 57 

	24.	RECEIVER AND OTHER REMEDIES 

 If an Event of Default shall have occurred and, during the
continuance thereof, Collateral Agent shall have commenced judicial proceedings to enforce any right under this Deed of Trust, then Collateral Agent shall, to the extent permitted by law, be entitled, as against Grantor, to the appointment of a
receiver of the Mortgaged Property and subject to the rights, if any, of others to receive collections from former, present or future customers of the rents, issues, profits, revenues and other income thereof, and whether or not any receiver is
appointed, Collateral Agent shall be entitled to retain possession and control of, and to collect and receive the income from cash, securities and other personal property held by Collateral Agent hereunder and to all other remedies available to
mortgagees and secured parties under the UCC or any other applicable law. 
  

	25.	COMPLIANCE CERTIFICATES AND OPINIONS. 

 If the Trust Indenture Act applies to this Deed
of Trust, then upon any application or request by Grantor to Collateral Agent to take any action under any provision of this Deed of Trust, Grantor shall furnish to Collateral Agent an Officer’s Certificate stating that in the opinion of the
Authorized Officer executing such Officer’s Certificate all conditions precedent, if any, provided for in this Deed of Trust relating to the proposed action (including any covenants the compliance with which constitutes a condition precedent)
have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of
such documents is specifically required by any provision of this Deed of Trust relating to such particular application or request, no additional certificate or opinion need be furnished. 

If the Trust Indenture Act applies to this Deed of Trust, every certificate or opinion with respect to compliance with a condition or covenant
provided for in this Deed of Trust shall include: 
 (a) a statement that each Person signing such certificate or opinion has read such
covenant or condition and the definitions herein relating thereto; 
 (b) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (c) a statement that, in the
opinion of each such Person, such Person has made such examination or investigation as is necessary to enable such Person to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(d) a statement as to whether, in the opinion of each such Person, such condition or covenant has been complied with. 

  
 58 

	26.	FORM OF DOCUMENTS DELIVERED TO COLLATERAL AGENT 

 Any Officer’s Certificate may be
based (without further examination or investigation), insofar as it relates to or is dependent upon legal matters, upon an opinion of, or representations by, counsel, and insofar as it relates to or is dependent upon matters which are required in
this Deed of Trust to be covered by a certificate or opinion of, or representations by, an Expert, upon the certificate or opinion of, or representations by, an Expert, unless, in any case, such officer has actual knowledge that the certificate or
opinion or representations with respect to the matters upon which such Officer’s Certificate may be based as aforesaid are erroneous. 

Any Expert’s Certificate may be based (without further examination or investigation), insofar as it relates to or is dependent upon legal
matters, upon an opinion of, or representations by, counsel, and insofar as it relates to or is dependent upon factual matters, information with respect to which is in the possession of Grantor and which are not subject to verification by Experts,
upon a certificate or opinion of, or representations by, an officer or officers of Grantor, unless such expert has actual knowledge that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion
may be based as aforesaid are erroneous. 
 Any Opinion of Counsel may be based (without further examination or investigation), insofar as
it relates to or is dependent upon factual matters, information with respect to which is in the possession of Grantor, upon a certificate of, or representations by, an officer or officers of Grantor, and, insofar as it relates to or is dependent
upon matters required in this Deed of Trust to be covered by a certificate or opinion of, or representations by, an Expert, upon the certificate or opinion of, or representations by, an Expert, unless such counsel has actual knowledge that the
certificate or opinion or representations with respect to the matters upon which his opinion may be based as aforesaid are erroneous. In addition, any Opinion of Counsel may be based (without further examination or investigation), insofar as it
relates to or is dependent upon matters covered in an Opinion of Counsel rendered by other counsel, upon such other Opinion of Counsel, unless such counsel has actual knowledge that the Opinion of Counsel rendered by such other counsel with respect
to the matters upon which his Opinion of Counsel may be based as aforesaid are erroneous. Further, any Opinion of Counsel with respect to the status of title to or the sufficiency of descriptions of property, and/or the existence of Liens thereon,
and/or the recording or filing of documents, and/or any similar matters, may be based (without further examination or investigation) upon (i) title insurance policies or commitments and reports, abstracts of title, lien search certificates and
other similar documents or (ii) certificates of, or representations by, officers, employees, agents and/or other representatives of Grantor or (iii) any combination of the documents referred to in (i) and (ii), unless, in any case,
such counsel has actual knowledge that the document or documents with respect to the matters upon which his opinion may be based as aforesaid are erroneous. If, in order to render any Opinion of Counsel provided for herein, the signer thereof shall
deem it necessary that additional facts or matters be stated in any Officer’s Certificate or Expert’s Certificate provided for herein, then such certificate may state all such additional facts or matters as the signer of such Opinion of
Counsel may request. 
 In any case where several matters are required to be certified by, or covered by an opinion of, any specified
Person, it is not necessary that all such matters be certified by, or 

  
 59 

 
covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and
one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. Where (i) any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Deed of Trust, or (ii) two or more Persons are each required to make, give or execute any such application, request, consent, certificate, statement, opinion or other
instrument, any such applications, requests, consents, certificates, statements, opinions or other instruments may, but need not, be consolidated and form one instrument. 

Whenever, subsequent to the receipt by Collateral Agent of any resolution of the Board of Directors, Officer’s Certificate, Expert’s
Certificate, Opinion of Counsel or other document or instrument, a clerical, typographical or other inadvertent or unintentional error or omission shall be discovered therein, a new document or instrument may be substituted therefor in corrected
form with the same force and effect as if originally filed in the corrected form and, irrespective of the date or dates of the actual execution and/or delivery thereof, such substitute document or instrument shall be deemed to have been executed
and/or delivered as of the date or dates required with respect to the document or instrument for which it is substituted. Anything in this Deed of Trust to the contrary notwithstanding, if any such corrective document or instrument indicates that
action has been taken by or at the request of Grantor which could not have been taken had the original document or instrument not contained such error or omission, then the action so taken shall not be invalidated or otherwise rendered ineffective
but shall be and remain in full force and effect, except to the extent that such action was a result of willful misconduct or bad faith. Without limiting the generality of the foregoing, any Obligations issued under the authority of such defective
document or instrument shall nevertheless be the valid obligations of Grantor entitled to the benefits of this Deed of Trust, equally and ratably with all other Outstanding Obligations, except as aforesaid. 

 

	27.	INDEMNIFICATION OF COLLATERAL AGENT 

 EXCEPT FOR NEGLIGENCE, WILLFUL MISCONDUCT, OR BAD
FAITH, COLLATERAL AGENT SHALL NOT BE LIABLE FOR ANY ACT OR OMISSION OR ERROR OF JUDGMENT. COLLATERAL AGENT MAY RELY ON ANY DOCUMENT BELIEVED BY IT IN GOOD FAITH TO BE GENUINE. ALL MONEY RECEIVED BY COLLATERAL AGENT SHALL, UNTIL USED OR APPLIED AS
HEREIN PROVIDED, BE HELD IN TRUST, AND COLLATERAL AGENT SHALL NOT BE LIABLE FOR INTEREST THEREON. GRANTOR SHALL INDEMNIFY COLLATERAL AGENT AGAINST ALL LIABILITY AND EXPENSES THAT IT MAY INCUR IN THE PERFORMANCE OF ITS DUTIES HEREUNDER EXCEPT FOR
NEGLIGENCE, WILLFUL MISCONDUCT, OR BAD FAITH. 
  

	28.	ACCEPTANCE BY COLLATERAL AGENT 

 Collateral Agent accepts its duties and obligations
under this Deed of Trust when this Deed of Trust, duly executed and acknowledged, is made a public record as provided by law. 

  
 60 

	29.	AGREEMENT FOR BENEFIT OF PARTIES HERETO 

 Nothing in this Deed of Trust, express or
implied, is intended or shall be construed to confer upon, or to give to, any Person other than the parties hereto and the other Secured Parties bound hereby and their respective successors and assigns, any right, remedy or claim under or by reason
of this Deed of Trust or any covenant, condition or stipulation hereof and the covenants, stipulations and agreements contained in this Deed of Trust are and shall be for the sole and exclusive benefit of the parties hereto and their respective
successors and assigns. 
  

	30.	FINAL AGREEMENT OF THE PARTIES 

 THIS DEED OF TRUST REPRESENTS THE FINAL AGREEMENT
BETWEEN THE PARTIES WITH RESPECT TO THE LIEN OF THIS DEED OF TRUST AS SECURITY FOR THE OBLIGATIONS AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO ORAL AGREEMENTS BETWEEN
THE PARTIES REGARDING THE MATTERS COVERED BY THIS DEED OF TRUST. 

  
 61 

 This Deed of Trust has been duly executed by Grantor as of the date first above written and is
intended to be effective as of such date. 
  

			
	ONCOR ELECTRIC DELIVERY COMPANY LLC, a Delaware limited liability company (formerly TXU Electric Delivery Company, formerly Oncor Electric Delivery Company)
		
	By:  	 	 /s/ John M. Casey

		 	John M. Casey, Treasurer

  

			
	STATE OF TEXAS	  	§
		  	§
	COUNTY OF DALLAS	  	§

 This instrument was acknowledged before me this 13th day of May, 2008, by John M. Casey, Treasurer of ONCOR
ELECTRIC DELIVERY COMPANY LLC, a Delaware limited liability company, on behalf of said limited liability company. 
  

			
		 	  

Notary Public in and for the State of Texas

 [Signature Page – 

Deed of Trust, Security Agreement and Fixture Filing] 

 Exhibit A 

(To be provided) 

  
 A-1EX-4.12

 Exhibit 4.12 

FIRST AMENDMENT 
 TO

 DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING 

by 
 ONCOR ELECTRIC
DELIVERY COMPANY LLC, 
 as Grantor 

to and for the benefit of 

THE BANK OF NEW YORK MELLON, 

as Collateral Agent 

Dated as of March 2, 2009 

THIS INSTRUMENT GRANTS A SECURITY INTEREST BY A UTILITY. 

THIS INSTRUMENT CONTAINS AFTER-ACQUIRED PROPERTY PROVISIONS. 

 FIRST AMENDMENT 

TO 
 DEED OF TRUST,
SECURITY AGREEMENT AND FIXTURE FILING 
 THIS FIRST AMENDMENT TO DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING (this
“Amendment”) is executed to be dated as of March 2, 2009, by ONCOR ELECTRIC DELIVERY COMPANY LLC, a Delaware limited liability company (“Grantor”), having an organizational identification
number of 4435668 and an office at Energy Plaza, 1601 Bryan Street, Dallas, Texas 75201, Attention: Treasurer, to and for the benefit of THE BANK OF NEW YORK MELLON (formerly The Bank of New York), a New York banking corporation, as
Collateral Agent and Trustee (“Collateral Agent” and “DOT Trustee”) under the Deed of Trust (as defined below), whose address is The Bank of New York Mellon, c/o Corporate Trust Administration, 101
Barclay Street, Floor 8W, New York, New York 10286. 
 RECITALS: 

A. Grantor executed and delivered that certain Deed of Trust, Security Agreement and Fixture Filing dated as of May 15, 2008 (the
“Deed of Trust”) to the Collateral Agent, which was filed of record with the Texas Secretary of State pursuant to Section 35.02 of the Texas Business and Commerce Code on May 15, 2008 under file number
08-0016750724. 
 B. Pursuant to Section 7.1(e) of the Deed of Trust, Grantor wishes to amend the Deed of Trust to correct the figure
set forth therein with respect to Available Bond Credits. 
 C. Grantor has furnished to the Collateral Agent an Officer’s Certificate
and an Opinion of Counsel pursuant to Section 25 of the Deed of Trust. 
 D. Grantor has duly authorized the execution and delivery of
this Amendment and hereby requests the Collateral Agent to execute and deliver this Amendment. 
 E. All things necessary to make this
Amendment a valid and binding agreement of the Grantor and an amendment to the Deed of Trust in accordance with its terms have been done and performed. 

AGREEMENT: 
 FOR
VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, Grantor and Collateral Agent hereby agree as follows: 

1. Definitions. Capitalized terms used in this Amendment shall have the same meaning as ascribed to such terms in the Deed of Trust
unless defined otherwise herein. 
 2. Amendment. The definition of “Available Bond Credits” in Section 1 of the Deed
of Trust is hereby deleted in its entirety and the following is inserted in lieu thereof: 
 “Available Bond Credits”
as of the Execution Date equals $2,241,394,604. Thereafter, Available Bond Credits shall be (a) increased by the principal amount of Obligations (other than Deed of Trust Obligations) paid, retired or cancelled or for the payment of which money
has been deposited with the applicable Secured Party Representative, and (b) decreased by the principal amount of Additional Obligations secured pursuant to Section 22 hereof. 

 3. Ratification. Except as expressly set forth herein, this Amendment shall not alter,
amend, modify or otherwise affect the terms, provisions and conditions of the Credit Documents, and Grantor hereby ratifies, confirms and agrees that the Credit Documents and all liens, security interests, assignments, powers, indemnities, waivers
and other rights created for Collateral Agent’s benefit thereunder, including, without limitation, the lien created by the Deed of Trust, as amended by this Amendment, shall continue to secure, in the same manner, in the same priority and to
the same extent set forth therein, the payment and performance of the Obligations, and all of same are hereby renewed, extended, carried forward, ratified and confirmed and shall be deemed for all purposes in full force and effect. 

4. No Waiver. The execution and/or acceptance of this Amendment by Grantor shall not be deemed or construed as: (a) a novation or
an accord and satisfaction of any of Grantor’s duties, obligations and liabilities contained in the Credit Documents, as amended; (b) a waiver, modification, restriction or limitation of any and all of the Collateral Agent’s rights
and benefits arising under the Credit Documents by operation of law, or otherwise, to demand full, complete and strict performance of the duties, obligations and liabilities contained in the Credit Documents, as amended; or (c) an obligation of
the Collateral Agent to grant Grantor any future or further modification, renewal, extension and/or amendment to the Deed of Trust, as amended hereby, or any or all of the other Credit Documents. 

5. Counterparts. This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts
with the same effect as if the signature thereto and hereto were upon the same instrument, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 

6. Severability. In the event any one or more of the provisions contained in this Deed of Trust shall for any reason be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision hereof, but each shall be construed as if such invalid, illegal or unenforceable provision had never been
included. 
 7. Entire Agreement. This Amendment and the Credit Documents as amended in writing and signed by the parties represent
the entire agreement of the parties with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by any party relative to the subject matter hereof not expressly set forth or referred to herein or
therein. 
 8. Further Amendment. Neither this Amendment nor any terms hereof may be amended, supplemented or modified except by a
written instrument executed by the parties in accordance with the terms and conditions of the Deed of Trust. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. 

 9. Authority. The Grantor and the respective representative thereof executing this
Amendment on its behalf, each represents that such representative has full power, authority and legal right to execute and deliver this Amendment and that the same constitutes a valid and binding obligation of such party. 

10. Collateral Agent. The Collateral Agent shall not be responsible in any manner whatsoever for or in respect of the validity or
sufficiency of this Amendment or for or in respect of the recitals contained herein, all of which recitals are made solely by the Grantor. 

11. Governing Law. This Amendment shall be governed by and construed and interpreted in accordance with the laws of the State of Texas,
except that Grantor expressly acknowledges that all of the rights, benefits, privileges, immunities and obligations of the Collateral Agent under this Amendment shall be governed and construed in accordance with the laws of the State of New York.

 [Signature Page Follows.] 

 This Amendment has been duly executed by Grantor as of the date first above written and is intended to be
effective as of such date. 
  

			
	 ONCOR ELECTRIC DELIVERY COMPANY LLC,

a Delaware limited liability company

		
	 By:  
	 	 /s/ John M. Casey

		 	John M. Casey, Treasurer

  

					
	STATE OF TEXAS	  	 	        §	  
		  	 	§	  
	COUNTY OF DALLAS	  	 	§	  

 This instrument was acknowledged before me this 27th day of February 2009, by John M. Casey, Treasurer of ONCOR ELECTRIC
DELIVERY COMPANY LLC, a Delaware limited liability company, on behalf of said limited liability company. 
  

	
	 /s/ Anna R. Hines

	 Notary Public in and for the State of Texas

 This Amendment has been duly executed by Collateral Agent as of the date first above written and
is intended to be effective as of such date. 
  

			
	THE BANK OF NEW YORK MELLON, a New York banking corporation, as Collateral Agent
		
	 By:  
	 	 /s/ Kimberly P. Davidson

  

					
	STATE OF NEW YORK	  	 	        §	  
		  	 	§	  
	COUNTY OF NEW YORK	  	 	§	  

 This instrument was acknowledged before me this 2 day of March 2009, by Kimberly P. Davidson, a Vice President of THE BANK OF
NEW YORK MELLON, a New York banking corporation, on behalf of said banking corporation. 
  

	
	 /s/ Carlos R. Luciano

	Notary Public in and for the State of New York

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}]]