Document:

a076104e.htm

Exhibit 4(e)

 

Loan Agreement

 

between

 

Louisiana Public Facilities Authority

 

and

 

Entergy Gulf States Louisiana, L.L.C.

 

 

Dated as of October 1, 2010

 

 

$31,955,000

Louisiana Public Facilities Authority

Revenue Bonds

(Entergy Gulf States Louisiana, L.L.C. Project)

Series 2010B

 

  

  

 

  

TABLE OF CONTENTS

Page

 

	
ARTICLE I

	
DEFINITIONS 

	
3

 

	
  

	
SECTION 1.1.

	
Definitions 

	
3

 

	
  

	
SECTION 1.2.

	
Use of Words and Phrases 

	
5

 

	
  

	
SECTION 1.3.

	
Nontaxability 

	
5

 

	
ARTICLE II

	
REPRESENTATIONS 

	
6

 

	
  

	
SECTION 2.1.

	
Representations and Warranties of the Issuer 

	
6

 

	
  

	
SECTION 2.2.

	
Representations and Warranties of the Company 

	
6

 

	
ARTICLE III

	
THE FACILITIES 

	
7

 

	
  

	
SECTION 3.1.

	
Maintenance of Facilities; Remodeling 

	
7

 

	
  

	
SECTION 3.2.

	
Insurance 

	
7

 

	
  

	
SECTION 3.3.

	
Condemnation; Eminent Domain 

	
7

 

	
ARTICLE IV

	
ISSUANCE OF BONDS; DISPOSITION OF PROCEEDS OF BONDS 

	
8

 

	
  

	
SECTION 4.1.

	
Issuance of the Series 2010B Bonds 

	
8

 

	
  

	
SECTION 4.2.

	
Additional Bonds 

	
8

 

	
  

	
SECTION 4.3.

	
Disposition of Bond Proceeds; Refunding Fund 

	
8

 

	
  

	
SECTION 4.4.

	
Agreement to Redeem Prior Bonds 

	
8

 

	
  

	
SECTION 4.5.

	
Compliance with Trust Indentures for Prior Bonds 

	
9

 

	
ARTICLE V

	
THE LOAN; OTHER OBLIGATIONS; FIRST MORTGAGE BONDS 

	
10

 

	
  

	
SECTION 5.1.

	
Loan 

	
10

 

	
  

	
SECTION 5.2.

	
Loan Payments 

	
10

 

	
  

	
SECTION 5.3.

	
Bond Fund 

	
10

 

	
  

	
SECTION 5.4.

	
Payments to Issuer 

	
10

 

	
  

	
SECTION 5.5.

	
Payments Assigned; Obligation Absolute 

	
10

 

	
  

	
SECTION 5.6.

	
Payment of Expenses 

	
11

 

	
  

	
SECTION 5.7.

	
Indemnification 

	
11

 

	
  

	
SECTION 5.8.

	
Payment of Taxes; Discharge of Liens 

	
11

 

	
  

	
SECTION 5.9.

	
Issuance, Delivery and Surrender of First Mortgage Bonds12

 

	
ARTICLE VI

	
SPECIAL COVENANTS AND AGREEMENTS 

	
14

 

	
  

	
SECTION 6.1.

	
Maintenance of Existence 

	
14

 

	
  

	
SECTION 6.2.

	
Arbitrage Covenant 

	
14

 

	
  

	
SECTION 6.3.

	
Bonds are Limited Obligations 

	
14

 

	
  

	
SECTION 6.4.

	
Tax-Exempt Status of Bonds 

	
15

 

	
  

	
SECTION 6.5.

	
State Bond Commission Reporting Requirements 

	
16

 

	
  

	
SECTION 6.6.

	
Compliance with Law 

	
16

 

	
  

	
SECTION 6.7.

	
No Warranty 

	
16

 

	
ARTICLE VII

	
ASSIGNMENT, LEASING AND SELLING 

	
17

 

	
  

	
SECTION 7.1.

	
Limitation 

	
17

 

	
  

	
SECTION 7.2.

	
Issuer’s Rights of Assignment 

	
17

 

	
  

	
SECTION 7.3.

	
Assignment by the Company 

	
17

 

	
ARTICLE VIII

	
EVENTS OF DEFAULT AND REMEDIES 

	
18

 

	
  

	
SECTION 8.1.

	
Events of Default 

	
18

 

	
  

	
SECTION 8.2.

	
Force Majeure 

	
18

 

	
  

	
SECTION 8.3.

	
Remedies on Default 

	
19

 

	
  

	
SECTION 8.4.

	
No Remedy Exclusive 

	
19

 

	
  

	
SECTION 8.5.

	
Agreement to Pay Attorneys’ Fees and Expenses 

	
19

 

	
  

	
SECTION 8.6.

	
Waiver of Breach 

	
20

 

	
ARTICLE IX

	
REDEMPTION OR PURCHASE OF BONDS 

	
21

 

	
  

	
SECTION 9.1.

	
Redemption of Bonds 

	
21

 

	
  

	
SECTION 9.2.

	
Purchase of Bonds 

	
21

 

	
ARTICLE X

	
MISCELLANEOUS 

	
22

 

	
  

	
SECTION 10.1.

	
Notices 

	
22

 

	
  

	
SECTION 10.2.

	
Severability 

	
22

 

	
  

	
SECTION 10.3.

	
Execution of Counterparts 

	
22

 

	
  

	
SECTION 10.4.

	
Amounts Remaining in Bond Fund 

	
23

 

	
  

	
SECTION 10.5.

	
Amendments, Changes and Modifications 

	
23

 

	
  

	
SECTION 10.6.

	
Governing Law 

	
23

 

	
  

	
SECTION 10.7.

	
Authorized Company Representatives 

	
23

 

	
  

	
SECTION 10.8.

	
Term of the Agreement 

	
23

 

	
  

	
SECTION 10.9.

	
No Personal Liability 

	
23

 

	
  

	
SECTION 10.10.

	
Parties in Interest 

	
23

 

Loan Agreement

 

This Loan Agreement dated as of October 1, 2010 (together with any amendments or supplements hereto, this “Agreement”) is by and between the Louisiana Public Facilities Authority (as more fully defined in Section 1.1 hereof, the “Issuer”), a public trust and public corporation organized and existing for the benefit of the State of Louisiana (the “State”), and Entergy Gulf States Louisiana, L.L.C., a Louisiana limited liability company, duly qualified to do business in the State (together with any permitted successors or assigns under this Agreement, the “Company”).

 

W i t n e s s e t h :

 

WHEREAS, the Issuer, a public trust and public corporation of the State, created and existing pursuant to the provisions of Chapter 2-A of Title 9 of the Louisiana Revised Statutes of 1950, as amended, and all future acts supplemental thereto and amendatory thereof (the “Act”), is authorized pursuant to the Act to issue its revenue bonds for the purpose of providing funds for the furtherance and accomplishment of any authorized public function or purpose of the State and to issue obligations to accomplish the foregoing authorized public function or purpose of the State, including the provisions of gas, electric, petroleum, coal and other energy collection, recovery, generation, storage, transportation and distribution facilities and activities; and the provisions of antipollution and air, water, ground and subsurface pollution abatement and control facilities and activities; and

 

WHEREAS, the Company has requested that the Issuer issue $31,955,000 of its Revenue Bonds (Entergy Gulf States Louisiana, L.L.C. Project) Series 2010B (as more fully defined in Section 1.1 hereof, the “Series 2010B Bonds”) for the purpose of providing funds to refinance the Company’s obligations incurred to finance certain air and water pollution control facilities and solid waste disposal facilities at River Bend Unit 1 of the Company; and

 

WHEREAS, the Issuer proposes hereby to lend the proceeds of the Series 2010B Bonds to the Company, and the Company desires to borrow the proceeds of the Series 2010B Bonds upon the terms and conditions set forth herein and use such proceeds to refinance the Company’s obligations with respect to (i) the outstanding Parish of West Feliciana, State of Louisiana Variable Rate Demand Pollution Control Revenue Bonds (Gulf States Utilities Company Project) Series 1985-C issued in the original principal amount of $39,000,000 (the “Series 1985-C Bonds”), of which $16,560,000 is outstanding, and (ii) the outstanding Parish of West Feliciana, State of Louisiana Variable Rate Demand Pollution Control Revenue Bonds (Gulf States Utilities Company Project) Series 1985-D issued in the original principal amount of $28,400,000 (the “Series 1985-D Bonds” and, together with the Series 1985-C Bonds, the “Prior Bonds”), of which $15,395,000 is outstanding; and

 

WHEREAS, the Company is the successor by merger to Entergy Gulf States, Inc., the obligor under the respective sublease agreements relating to the Prior Bonds; and

 

WHEREAS, the Issuer may authorize and issue Additional Bonds (as defined in Section 1.1 of this Agreement) pursuant to the Indenture and Section 4.2 of this Agreement; and

 

WHEREAS, in consideration of the issuance of the Bonds (as defined in Section 1.1 of this Agreement) by the Issuer, the Company will agree to make payments in an amount sufficient to pay the principal of, premium, if any, and interest on the Bonds pursuant to this Agreement, said Bonds to be paid solely from the Revenues (as defined in Section 1.1 of this Agreement), and said Bonds shall not constitute an indebtedness or pledge of the general credit of the Issuer or the State, within the meaning of any constitutional or statutory limitation of indebtedness or otherwise; and

 

WHEREAS, the execution and delivery of this Agreement under the Act have been in all respects duly and validly authorized by resolution duly adopted by the Issuer;

 

NOW, THEREFORE, in consideration of the premises and other good and valuable consideration and the mutual benefits, covenants and agreements herein expressed, the Issuer and the Company agree as follows (provided that any obligation of the Issuer created by or arising out of this Agreement shall not impose a debt or pecuniary liability upon the State or any political subdivision thereof, or a charge upon the general credit or taxing powers of such bodies, but shall be payable solely out of the Revenues (as defined in Section 1.1 of this Agreement) and, to the extent provided in this Agreement, out of the proceeds of the sale of the Series 2010B Bonds and any temporary investment thereof as herein provided).

 

ARTICLE I

 

DEFINITIONS

 

SECTION 1.1. Definitions.  In addition to the words and terms elsewhere defined in this Agreement or in the Indenture, the following words and terms as used in this Agreement shall have the following meanings unless the context or use indicates another or different meaning:

 

“Additional Bonds” shall mean Bonds in addition to the Series 2010B Bonds which are issued pursuant to the provisions of Section 2.11 of the Indenture.

 

“Administration Expenses” shall mean the reasonable and necessary expenses incurred by the Issuer with respect to this Agreement, the Indenture and any transaction or event contemplated by this Agreement or the Indenture including the compensation and reimbursement of expenses and advances payable to the Trustee, any paying agent, any co-paying agent, and the registrar under the Indenture.

 

“Authorized Company Representative” shall mean any treasurer, assistant treasurer or vice president of the Company or the person or persons at the time designated to act on behalf of the Company by any one of said officers, such designation in each case, to be evidenced by a certificate furnished to the Issuer and the Trustee containing the specimen signature of such person or persons and signed on behalf of the Company by said officer.

 

“Bonds” shall mean the Series 2010B Bonds and any Additional Bonds issued by the Issuer pursuant to the Indenture.

 

“Bond Counsel” shall mean any firm of nationally recognized municipal bond counsel selected by the Company and acceptable to the Issuer and the Trustee.

 

“Bond Fund” shall mean the fund by that name created and established in Section 5.1 of the Indenture.

 

“Code” shall mean the Internal Revenue Code of 1986, as heretofore or hereafter amended.

 

“Company Mortgage” means the Company’s Indenture of Mortgage dated as of September 1, 1926 made to The Bank of New York Mellon (successor to JPMorgan Chase Bank), as heretofore and hereafter amended and supplemented, including the Eightieth Supplemental Indenture dated as of October 1, 2010, pursuant to which the series of First Mortgage Bonds relating to the Series 2010B Bonds will be issued.

 

“Company Mortgage Trustee” shall mean the trustee under the Company Mortgage.

 

“Costs of Issuance” means all fees, charges and expenses incurred in connection with the authorization, preparation, sale, issuance and delivery of the Bonds and the First Mortgage Bonds, including, without limitation, financial, legal and accounting fees, expenses and disbursements, rating agency fees, the Issuer’s expenses attributable to the issuance of the Bonds, the cost of printing, engraving and reproduction services and the initial or acceptance fee of the Trustee.

 

“Event of Default” shall mean any event of default specified in Section 8.1 hereof.

 

“Facilities” means the Company’s air and water pollution control facilities and solid waste disposal facilities at the Plant, financed in part with the proceeds of the Prior Bonds.

 

“First Mortgage Bonds” shall mean one or more series of bonds issued and delivered under the Company Mortgage and held by the Trustee pursuant to Section 5.9 of this Agreement.

 

“Indenture” means the Trust Indenture dated as of October 1, 2010 between the Issuer and the Trustee securing the Bonds, and any amendments and supplements thereto.

 

“Issuer” means the Louisiana Public Facilities Authority, a public trust and public corporation of the State of Louisiana, created pursuant to the provisions of the Act and pursuant to its Indenture of Trust dated August 21, 1974, or any agency, board, body, commission, department or officer succeeding to the principal functions thereof or to whom the powers conferred upon the Issuer by said provisions shall be given by law.

 

“Loan Payments” means the payments to be made by the Company pursuant to Section 5.2 of this Agreement.

 

“outstanding”, when used with reference to the Bonds, shall mean, as of any particular date, all Bonds authenticated and delivered under the Indenture except:

 

(a)           Bonds canceled at or prior to such date or delivered to or acquired by the Trustee prior to such date for cancellation;

 

(b)           Bonds deemed to be paid in accordance with Article IX of the Indenture;

 

(c)           Bonds in lieu of or in exchange or substitution for which other Bonds shall have been authenticated and delivered pursuant to the Indenture; and

 

(d)           Bonds registered in the name of the Issuer.

 

“Plant” means River Bend Unit 1 owned and operated by the Company, and located in the geographic limits of the Parish of West Feliciana, State of Louisiana.

 

“Refunding Date” means November 1, 2010 with respect to the Series 1985-C Bonds and December 1, 2010 with respect to the Series 1985-D Bonds, or such later dates as may be established by the Company; provided, however, that the Refunding Date shall not be later than ninety (90) days following the date of delivery of the Series 2010B Bonds to the original purchaser or purchasers of the Series 2010B Bonds.

 

“Refunding Fund” means the fund by that name created and established in Section 6.1 of the Indenture.

 

“Regulations” means the applicable proposed, temporary or final Income Tax Regulations promulgated under the Code, as such regulations may be amended or supplemented from time to time.

 

“Revenues” shall mean all moneys paid or payable by the Company to the Trustee for the account of the Issuer in respect of the principal of, premium, if any, and interest on the Bonds, including, without limitation, amounts paid or payable by the Company pursuant to Sections 5.2 and 9.1 of this Agreement as Loan Payments, amounts paid or payable by Company in respect of the First Mortgage Bonds, and all receipts of the Trustee credited under the provisions of the Indenture against such payments.

 

“Series 2010B Bonds” means the $31,955,000 Louisiana Public Facilities Authority Revenue Bonds (Entergy Gulf States Louisiana, L.L.C. Project) Series 2010E issued pursuant to the Indenture.

 

“Trustee” means The Bank of New York Mellon Trust Company, N.A., as trustee under the Indenture, and its successors as trustee.

 

SECTION 1.2. Use of Words and Phrases.  “Herein”, “hereby”, “hereunder”, “hereof”, “hereinabove”, “hereinafter”, and other equivalent words and phrases refer to this Agreement and not solely to the particular portion thereof in which any such word is used. The definitions set forth in Section 1.1 hereof include both singular and plural. Whenever used herein, any pronoun shall be deemed to include both singular and plural and to cover all genders. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, the words “Bond”, “owner”, “holder” and “person” shall include the plural, as well as the singular, number.

 

Unless the context shall otherwise indicate, “Person” or “person” shall mean any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

 

SECTION 1.3. Nontaxability.  It is intended by the parties hereto that this Agreement and all action taken hereunder be consistent with and pursuant to the resolution of the governing authority of the Issuer relating to the Bonds, and that the interest on the Bonds be excluded from the gross income of the recipients thereof for federal income tax purposes other than with respect to a person who is a “substantial user” of the Facilities or a “related person” of a “substantial user” within the meaning of the Code by reason of the provisions of the Code. The Company will not use any of the funds provided by the Issuer hereunder in such a manner as to impair the exclusion of interest on any of the Bonds from the gross income of the recipient thereof for federal income tax purposes nor will it take any action that would impair such exclusion or fail to take any action if such failure would impair such exclusion.

 

ARTICLE II

REPRESENTATIONS

 

SECTION 2.1. Representations and Warranties of the Issuer.  The Issuer makes the following representations and warranties as the basis for the undertakings on the part of the Company herein contained:

 

(a)           The Issuer is a public trust and a public corporation of the State.

 

(b)           The Issuer has the power to enter into the transactions contemplated by this Agreement and to carry out its obligations hereunder. By proper action of the governing body of the Issuer, the Issuer has been duly authorized to execute and deliver this Agreement.

 

(c)           The Issuer has not assigned, and will not, except as otherwise required by mandatory provisions of law, assign its interest in this Agreement other than to secure the Bonds.

 

SECTION 2.2. Representations and Warranties of the Company.  The Company makes the following representations and warranties as the basis for the undertakings on the part of the Issuer herein contained:

 

(a)           The Company is a Louisiana limited liability company, duly qualified and in good standing to do business in the State, is not in violation of any provision of its organizational documents, has power to enter into this Agreement and to perform and observe the agreements and covenants on its part contained herein, including, without limitation, the power to issue and deliver the First Mortgage Bonds as contemplated herein and in the Company Mortgage, and has duly authorized the execution and delivery of this Agreement by proper limited liability company action.

 

(b)           Neither the execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, nor the fulfillment of or compliance with the terms and conditions of this Agreement, including, without limitation, the issuance and delivery of the First Mortgage Bonds, conflicts with or results in a breach of the terms, conditions or provisions of any restriction or any agreement or instrument to which the Company is now a party or by which the Company is bound, or constitutes a default under any of the foregoing, or results in the creation or imposition of any lien, charge or encumbrance whatsoever upon any of the property or assets of the Company except any interests created herein, under the Indenture or under the Company Mortgage.

 

(e)           The Federal Energy Regulatory Commission has approved all matters relating to the Company’s participation in the transactions contemplated by this Agreement and the Company Mortgage which require said approval, and no other consent, approval, authorization or other order of any regulatory body or administrative agency or other governmental body is legally required for the Company’s participation therein, except such as may have been obtained or may be required under the securities laws of any state or in connection with the issuance of series of Additional Bonds.

 

ARTICLE III

THE FACILITIES

 

SECTION 3.1. Maintenance of Facilities; Remodeling.  The Company shall, at its expense, cause the Facilities, and every element and unit thereof, to be maintained, preserved and kept in good repair, working order and condition, and from time to time to cause all needful and proper repairs, replacements, additions, betterments and improvements to be made thereto; provided, however, that the Company may exercise all of such rights, powers, elections and options to cause the discontinuance of the operation of, or reduce the capacity of, the Facilities, or any element or unit thereof, if, in the judgment of the Company, any such action is necessary or desirable in the conduct of the business of the Company, or if the Company is ordered so to do by any regulatory authority having jurisdiction in the premises, or if the Company intends to sell or dispose of the same and within a reasonable time shall endeavor to effectuate such sale.

 

The Company may at its own expense cause the Facilities to be remodeled or cause substitutions, modifications and improvements to be made to the Facilities from time to time as it, in its discretion, may deem to be desirable for its uses and purposes, which remodeling, substitutions, modifications and improvements shall be included under the terms of this Agreement as part of the Facilities.

 

SECTION 3.2. Insurance.  The Company shall, at its expense, cause the Facilities to be kept insured against fire 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 or, 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 such loss of companies similarly situated and operating like properties. All proceeds of such insurance, or such other method or plan, shall be for the account of the Company.

 

SECTION 3.3. Condemnation; Eminent Domain.  (a)  In the event that title to or the temporary use of the Facilities, or any part thereof, shall be taken in condemnation or by the exercise of the power of eminent domain by any governmental body or by any person, firm or corporation acting under governmental or statutory authority, any proceeds from any award or awards in respect of the Facilities or any part thereof made in such condemnation or eminent domain proceedings, after payment of all expenses incurred in the collection thereof, shall be paid for the account of the Company.

 

(b) The Company shall be entitled to the entire proceeds of any condemnation award or portion thereof made for damages to or takings of its own property other than the Facilities.

 

ARTICLE IV

ISSUANCE OF BONDS; DISPOSITION OF PROCEEDS OF BONDS

 

SECTION 4.1. Issuance of the Series 2010B Bonds.  The Issuer shall issue the Series 2010B Bonds under and in accordance with the Indenture, subject to the provisions of any bond purchase agreement between the Issuer and the original purchaser or purchasers of the Series 2010B Bonds. The Company hereby approves the issuance of the Series 2010B Bonds and all terms and conditions thereof.

 

SECTION 4.2. Additional Bonds.  So long as the Company shall not be in default hereunder, and at the request of the Company, the Issuer may authorize and issue Additional Bonds in aggregate principal amounts specified from time to time by the Company in order to provide funds for the purpose of refunding the Series 2010B Bonds or any series of Additional Bonds, in whole or in part, or any combination thereof. Any such issuance of Additional Bonds shall be in accordance with the Indenture, including Sections 2.7 and 2.11 thereof.

 

The right to issue Additional Bonds set forth in this Agreement and the Indenture shall not imply that the Issuer and the Company may not enter into, and the Issuer and the Company expressly reserve the right to enter into, to the extent permitted by law, another agreement or agreements with respect to the issuance by the Issuer, under an indenture or indentures other than the Indenture, of bonds to fund additional facilities at the Plant or refunding bonds to refund all or any principal amount of all or any series of Bonds, and the provisions of this Agreement and the Indenture governing the issuance of Additional Bonds shall not apply thereto.

 

SECTION 4.3. Disposition of Bond Proceeds; Refunding Fund.  In consideration of the loan by the Issuer to the Company of the proceeds of the sale of the Series 2010B Bonds as provided in Section 5.1 hereof, the Company agrees that the proceeds of the Series 2010B Bonds shall be deposited with the Trustee in the Refunding Fund in accordance with the Indenture. The Trustee, as authorized by the Issuer in the Indenture, shall transfer out of the Refunding Fund the proceeds of the Series 2010B Bonds on or before the Refunding Date as follows: (a) $16,560,000 to The Bank of New York Mellon (successor to Irving Trust Company), as trustee for the Series 1985-C Bonds, and (b) $15,395,000 to The Bank of New York Mellon (successor to Irving Trust Company), as trustee for the Series 1985-D Bonds, for disbursement and investment in accordance with the Indenture of Trust and Pledge dated as of November 1, 1985 with respect to the Series 1985-C Bonds, and the Indenture of Trust and Pledge dated as of November 1, 1985 with respect to the Series 1985-D Bonds, in order to redeem, together with moneys of the Company deposited therein, all of the outstanding Prior Bonds on the Refunding Date. The proceeds from the sale of any Additional Bonds shall be applied simultaneously with the delivery of such Additional Bonds in the manner provided in the Indenture and in the supplemental indenture authorizing such Additional Bonds.

 

SECTION 4.4. Agreement to Redeem Prior Bonds.  The Company agrees to pay to the trustees for the Prior Bonds, in funds available to the trustees for the Prior Bonds on or prior to the Refunding Date, for deposit into the bond fund created under the trust indentures for the Prior Bonds securing the Prior Bonds and in accordance with the terms of the trust indentures for the Prior Bonds, any amount necessary to pay $31,955,000 principal amount of the Prior Bonds, together with the premium, if any, and accrued interest due thereon on the Refunding Date, to the extent that the amount delivered by the Issuer pursuant to Section 4.3 hereof is insufficient for such purpose. The Company shall pay out of its own money and not out of proceeds of the Bonds all reasonable Costs of Issuance with respect to the Bonds.

 

SECTION 4.5. Compliance with Trust Indentures for Prior Bonds.  The Issuer shall, at the request of the Company, take all steps as may be necessary under the trust indentures for the Prior Bonds to effect the redemption of all of the outstanding Prior Bonds on the Refunding Date as provided in the trust indentures for the Prior Bonds and as contemplated herein.

 

ARTICLE V

 

THE LOAN; OTHER OBLIGATIONS; FIRST MORTGAGE BONDS

 

SECTION 5.1. Loan.  The proceeds of the sale of the Series 2010B Bonds which are deposited into the Refunding Fund pursuant to the Indenture are hereby loaned by the Issuer to the Company in accordance with the provisions of this Agreement. The Issuer hereby agrees to make additional loans to the Company from time to time from the proceeds of any Additional Bonds issued by the Issuer pursuant to the Indenture.

 

SECTION 5.2. Loan Payments.  To repay the loan, the Company shall make or cause to be made Loan Payments in installments, so as to provide amounts for the timely payment of the principal of, premium, if any, and interest on the Bonds on the dates and in the amounts and in the manner provided in the Indenture for the Issuer to cause payment to be made to the Trustee of principal of, premium, if any, and interest on the Bonds, whether at maturity, upon redemption or acceleration, or otherwise; provided, however, that the obligation of the Company to make any such payment hereunder shall be reduced by the amount of any reduction under the Indenture of the amount of the corresponding payment required to be made by the Issuer thereunder in respect of the principal of or premium, if any, or interest on the Bonds.

 

SECTION 5.3. Bond Fund.  The Company shall pay the Loan Payments required of it under this Agreement by remitting or causing to be remitted the same directly to the Trustee for deposit in the Bond Fund established under the Indenture and administered by the Trustee as provided in the Indenture.

 

SECTION 5.4. Payments to Issuer.  Out of funds provided by the Company, there shall be paid (i) all of the Issuer’s reasonable actual out-of-pocket expenses and costs of issuance in connection with the Bonds, and (ii) on the date of delivery of the Bonds, an issuance fee to the Issuer in the amount of 1/20th of 1% of the face amount of the Bonds. The Company agrees to make administrative payments directly to the Issuer on June 1 of each year in an amount equal to 1/10th of 1% of the outstanding Bonds on January 1 of each year unless waived by the Issuer, if billed. The administrative payments shall be used for the purpose of paying administrative and related costs of the Issuer, but shall not include Trustee fees or expenses incurred by the Issuer in enforcing the provisions of this Agreement. The Issuer agrees that it will notify the Company in writing prior to March 15 of each year thereafter whether it shall waive such administrative payments for such year. If these fees are not waived, such written notice shall advise the Company of the amount that is to be paid (not to exceed 1/10 of 1% per annum of the outstanding Bonds on January 1 of each year), the date on which payment is due, and where such payment is to be remitted. In the event the Company should fail to pay such administrative expenses then due, the payment shall continue as an obligation of the Company until the amount shall have been fully paid, and the Company agrees to pay the same with interest thereon (to the extent legally enforceable) at a rate per annum equal to the interest rate in effect from time to time on the Bonds, until paid.

 

SECTION 5.5. Payments Assigned; Obligation Absolute.  It is understood and agreed that all Loan Payments to be made by the Company are, by the Indenture, to be pledged by the Issuer to the Trustee, and that all rights and interest of the Issuer hereunder (except for the Issuer’s rights under Sections 5.4, 5.6, 5.7, 5.8 and 8.5 hereof and any rights of the Issuer to receive notices, certificates, requests, requisitions, directions and other communications hereunder), and under the First Mortgage Bonds (including the right to receive the First Mortgage Bonds under this Agreement), are to be pledged and assigned to the Trustee. The Company assents to such pledge and assignment and agrees that the obligation of the Company to make the Loan Payments shall be absolute, irrevocable and unconditional and shall not be subject to cancellation, termination or abatement, or to any defense other than payment or to any right of set-off, counterclaim or recoupment arising out of any breach under this Agreement, the Indenture or otherwise by the Issuer or the Trustee or any other party, or out of any obligation or liability at any time owing to the Company by the Issuer, the Trustee or any other party, and, further, that the Loan Payments and the other payments due hereunder shall continue to be payable at the times and in the amounts specified herein, whether or not the Facilities or the Plant, or any portion thereof, shall have been destroyed by fire or other casualty, or title thereto, or the use thereof, shall have been taken by the exercise of the power of eminent domain, and that there shall be no abatement of or diminution in any such payments by reason thereof, whether or not the Facilities or the Plant shall be used or useful, and whether or not any applicable laws, regulations or standards shall prevent or prohibit the use of the Facilities or the Plant, or for any other reason.

 

SECTION 5.6. Payment of Expenses.  The Company shall pay all of the Administration Expenses of the Issuer and the compensation and the reimbursement of expenses and advances of the Trustee, any paying agent, any co-paying agent, and the registrar under the Indenture, such payments to be made directly to such entities.

 

SECTION 5.7. Indemnification.  The Company releases the Issuer and the Trustee from, agrees that the Issuer and the Trustee shall not be liable for, and agrees to indemnify and hold the Issuer and the Trustee free and harmless from, any liability for any loss or damage to property or any injury to or death of any person that may be occasioned by any cause whatsoever pertaining to the Facilities, except in any case as a result of the bad faith of the Issuer or the negligence or bad faith of the Trustee.

 

The Company will indemnify and hold the Issuer and the Trustee free and harmless from any loss, claim, damage, tax, penalty, liability (including but not limited to liability for any patent infringement), disbursement, litigation expenses, attorneys’ fees and expenses or court costs arising out of, or in any way relating to, the execution or performance of this Agreement, the issuance or sale of the Bonds, actions taken under the Indenture, or any other cause whatsoever pertaining to the Facilities, except in any case as a result of the negligence or bad faith of the Trustee.

 

Under this Section 5.7, the Company shall also be deemed to release, indemnify and agree to hold harmless each employee, official or officer of the Issuer and the Trustee to the same extent as the Issuer and the Trustee. The provisions of this Section shall survive the termination of this Agreement.

 

SECTION 5.8. Payment of Taxes; Discharge of Liens.  The Company shall: (a) pay, or make provision for payment of, all lawful taxes and assessments, including income, profits, property or excise taxes, if any, or other municipal or governmental charges, levied or assessed by any federal, state or municipal government or political body upon the Issuer upon any amounts payable hereunder; and (b) pay or cause to be satisfied and discharged or make adequate provision to satisfy and discharge, within sixty (60) days after the same shall accrue, any lien or charge upon any amounts payable hereunder, and all lawful claims or demands for labor, materials, supplies or other charges which, if unpaid, might be or become a lien upon such amounts; provided, that, if the Company shall first notify the Issuer and the Trustee of its intention so to do, the Company may in good faith contest any such lien or charge or claims or demands in appropriate legal proceedings, and in such event may permit the items so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom, unless by nonpayment of any such items the lien of the Indenture as to the amounts payable hereunder will be materially endangered, in which event the Company shall promptly pay and cause to be satisfied and discharged all such unpaid items. The Issuer shall cooperate fully with the Company in any such contest.

 

SECTION 5.9. Issuance, Delivery and Surrender of First Mortgage Bonds.  (a)  The obligation of the Company set forth in Section 5.2 hereof to make the Loan Payments required therein with respect to the Series 2010B Bonds shall be evidenced by a series of First Mortgage Bonds. The Company shall issue and deliver to the Issuer First Mortgage Bonds as provided in subsection (b) of this Section 5.9.

 

(b) The obligations of the Company to make payments under Section 5.2 hereof in respect of the Series 2010A Bonds shall be evidenced by a series of First Mortgage Bonds with the excess of the principal amount of the First Mortgage Bonds over the principal amount of the Series 2010B Bonds to be applied to the payment of accrued interest on the Series 2010B Bonds. Concurrently with the issuance and delivery by the Issuer of the Series 2010B Bonds, the Company shall issue and deliver to the Issuer a series of First Mortgage Bonds (i) maturing on the stated maturity date of the Series 2010B Bonds, (ii) in a principal amount equal to the sum of (A) the aggregate principal amount of the Series 2010B Bonds and (b) an amount equal to eight and one-half months interest on the Series 2010B Bonds, (iii) containing redemption provisions correlative to the redemption provisions of the Indenture relating to the Series 2010B Bonds requiring mandatory redemption thereof, (iv) requiring payments to be made to the Trustee for the account of the Issuer, and (v) bearing no interest.

 

(c) The obligation of the Company to make any payment of the principal of or premium, if any, or interest on the First Mortgage Bonds, whether at maturity, upon redemption or otherwise, shall be reduced by the amount of any reduction under the Indenture of the amount of the corresponding payment required to be made by the Issuer thereunder in respect of the principal of or premium, if any, or interest on the Series 2010B Bonds, all in accordance with the provisions of the Company Mortgage.

 

(d) The Issuer shall not sell, assign or transfer the First Mortgage Bonds, except to the extent provided in Section 5.5 hereof. In view of the pledge and assignment referred to in said Section 5.5, the Issuer agrees that (i) in satisfaction of the obligations of the Company set forth in paragraph (b) of this Section 5.9 with respect to the Series 2010B Bonds, the First Mortgage Bonds shall be issued and delivered to, registered in the name of, and held by the Trustee for the benefit of the owners and holders from time to time of the Series 2010B Bonds; (ii) the Indenture shall provide that the Trustee shall not sell, assign or transfer the First Mortgage Bonds except to a successor trustee under the Indenture, and shall surrender First Mortgage Bonds to the Company Mortgage Trustee in accordance with the provisions of subsection (e) of this Section; and (iii) the Company may take such actions as it shall deem to be desirable to effect compliance with such restrictions on transfer, including the placing of an appropriate legend on each First Mortgage Bond and the issuance of stop-transfer instructions to the Company Mortgage Trustee or any other transfer agent under the Company Mortgage. Any action taken by the Trustee in accordance with the provisions of Section 4.8 of the Indenture shall be binding upon the Company.

 

(e) At the time any Series 2010B Bonds cease to be outstanding (other than by reason of the payment or redemption of First Mortgage Bonds and other than by reason of the applicability of clause (c) in the definition of “Outstanding” herein), the Issuer shall cause the Trustee to surrender for cancellation to the Company Mortgage Trustee First Mortgage Bonds in an aggregate principal amount equal to the sum of (i) the aggregate principal amount of the Series 2010B Bonds which so cease to be outstanding and (ii) an amount equal to eight and one-half months interest on the amount of Series 2010B Bonds which so cease to be outstanding.

 

(f) For the purpose of determining whether or not any payment of the principal of or premium, if any, or interest on the First Mortgage Bonds shall have been made in full, any moneys paid by the Company in respect of the First Mortgage Bonds which shall have been withdrawn by the Trustee from the Bond Fund pursuant to Section 5.4 of the Indenture shall be deemed to have been paid by the Company to the Trustee pursuant to Section 5.2 hereof and not to have been paid by the Company in respect of the First Mortgage Bonds.

 

(g) The obligation of the Company set forth in Section 5.2 hereof to make Loan Payments therein with respect to any Additional Bonds may be evidenced by one or more series of First Mortgage Bonds on terms and conditions that will be set forth in either an amendment or supplement to this Agreement or a supplemental indenture to the Indenture.

 

ARTICLE VI

 

SPECIAL COVENANTS AND AGREEMENTS

 

SECTION 6.1. Maintenance of Existence.  The Company shall maintain its organizational existence, will not dissolve or otherwise dispose of all or substantially all of its assets and will not consolidate with or merge with or into another entity; provided, however, that the Company may consolidate with or merge with or into, or sell or otherwise transfer all or substantially all of its assets (and thereafter dissolve) to, another entity, organized under the laws of the United States, one of the states thereof or the District of Columbia, if the surviving, resulting or transferee entity, as the case may be (if other than the Company), prior to or simultaneously with such consolidation, merger, sale or transfer, assumes, by delivery to the Trustee of an instrument in writing satisfactory in form and substance to the Trustee, all of the obligations of the Company hereunder and under the First Mortgage Bonds, and provided that both immediately prior to such dissolution, disposal, consolidation or merger and after giving effect thereto, no Event of Default under this Agreement (or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default under this Agreement) shall have occurred and be continuing.

 

If a consolidation, merger or sale or other transfer is made as permitted by this Section 6.1, the provisions of this Section 6.1 shall continue in full force and effect and no further consolidation, merger or sale or other transfer shall be made except in compliance with the provisions of this Section 6.1.

 

SECTION 6.2. Arbitrage Covenant.  The Issuer and the Company covenant that the proceeds of the sale of the Bonds, the earnings thereon, and any other moneys on deposit in any fund or account maintained in respect of the Bonds (whether such moneys were derived from the proceeds of the sale of the Bonds or from other sources) will not be used in a manner which would cause the Bonds to be treated as “arbitrage bonds” within the meaning of Section 148 of the Code. The Company further covenants that: (a) all actions with respect to the Bonds required by Section 148(f) of the Code shall be taken; (b) it shall make the determinations required by paragraph (b) of Section 7.2 of the Indenture and promptly notify the Trustee of the same, together with supporting calculations; and (c) it shall within twenty-five (25) days after (i) the calendar date which corresponds to the final maturity of the respective series of Bonds and each anniversary thereof falling on or after the date of initial authentication and delivery thereof up to and including the final maturity of such series of the Bonds, unless the final payment, whether upon redemption in whole or at maturity, of such Bonds shall have occurred prior to such anniversary, and (ii) such final payment, file with the Trustee a statement signed by the chief financial officer of the Company (or person performing similar functions) to the effect that the Company is then in compliance with its covenants contained in clauses (a) and (b) of this sentence, together with supporting calculations; provided, however, that if the Company shall furnish an opinion of Bond Counsel to the Trustee to the effect that no further action by the Company is required for such compliance with respect to the Bonds, the Company shall not thereafter be required to deliver any such statements or calculations.

 

SECTION 6.3. Bonds are Limited Obligations.  The Bonds shall be limited obligations of the Issuer, payable solely out of the Revenues.

 

THE BONDS ARE LIMITED AND SPECIAL OBLIGATIONS OF THE ISSUER AND DO NOT CONSTITUTE OR CREATE AN OBLIGATION, GENERAL OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION OF THE STATE OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISIONS WHATSOEVER AND NEITHER THE FAITH OR CREDIT NOR THE TAXING POWER OF THE STATE OR OF ANY POLITICAL SUBDIVISION THEREOF IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE INTEREST ON THE BONDS. THE BONDS ARE NOT A GENERAL OBLIGATION OF THE ISSUER (WHICH HAS NO TAXING POWER AND RECEIVES NO FUNDS FROM ANY GOVERNMENTAL BODY) BUT ARE A LIMITED AND SPECIAL REVENUE OBLIGATION OF THE ISSUER PAYABLE SOLELY FROM THE REVENUES.

 

SECTION 6.4. Tax-Exempt Status of Bonds.  The Issuer and the Company mutually covenant and agree that neither of them shall take or authorize or permit any action to be taken, and have not taken or authorized or permitted any action to be taken, which results in interest paid on the Bonds being included in gross income for purposes of federal income taxes. Without limiting the generality of the foregoing, the Company further covenants, represents and agrees as follows:

 

(a)           Substantially all of the net proceeds of the sale of the Prior Bonds have been used to undertake the acquisition of air or water pollution control facilities or sewerage or solid waste disposal facilities within the meaning of Section 103(b)(4) of the Internal Revenue Code of 1954, as amended. All of the proceeds of the Prior Bonds have been expended.

 

(b)           The weighted average maturity of the Series 2010B Bonds does not exceed 120% of the reasonably expected economic life of the Facilities financed with the proceeds of the Prior Bonds.

 

(c)           The principal amount of the Series 2010B Bonds shall not exceed the outstanding principal amount of the Prior Bonds.

 

(d)           The Series 2010B Bonds are not and will not be “federally guaranteed” (as defined in Section 149(b) of the Code).

 

(e)           None of the proceeds of the Series 2010B Bonds will be used, and none of the proceeds of the Prior Bonds were used, to provide any airplane, skybox or other private luxury box, or health club facility; any facility primarily used for gambling; or any store the principal business of which is the sale of alcoholic beverages for consumption off premises.

 

(f)           The information furnished by the Company and used by the Issuer in preparing its No-Arbitrage Certificate dated the issue date of the Series 2010B Bonds is accurate and complete as of the date of the issuance of the Series 2010B Bonds.

 

(g)           None of the proceeds of the Series 2010B Bonds will be used to finance Costs of Issuance of the Series 2010B Bonds.

 

(h)           The Company will take no action that would cause any funds constituting gross proceeds of the Series 2010B Bonds to be used in a manner as to constitute a prohibited payment under the applicable regulations pertaining to, or in any other fashion as would constitute failure of compliance with, Section 148 of the Code and the applicable regulations thereunder.

 

The Company will not knowingly take any action, or knowingly omit to take any action, which action or omission will adversely affect the exclusion from gross income of the holders thereof for federal income tax purposes of interest on the Bonds (other than holders who are substantial users of the Facilities or related persons within the meaning of section 147(a) of the Code), and in the event of such action or omission (whether taken with knowledge or not) will promptly, upon receiving knowledge thereof, take all lawful actions, based on advice of Bond Counsel and at the Company’s expense, as may rescind or otherwise negate such action or omission.

 

The covenants and agreements contained in this Section 6.4 shall survive any termination of this Agreement.

 

SECTION 6.5. State Bond Commission Reporting Requirements.  The Company covenants that it shall furnish to the Issuer and Bond Counsel such information necessary to satisfy the reporting requirements of La. R.S. 39:1405.4, as may be amended from time to time. This information shall be delivered to the Issuer and Bond Counsel not less than five business days prior to the date such information is to be reported to the Louisiana State Bond Commission.

 

SECTION 6.6. Compliance with Law.  The Company shall, throughout the term of this Agreement and at no expense to the Issuer, promptly comply or cause compliance with all laws, ordinances, orders, rules, regulations and requirements of duly constituted public authorities that are applicable to the Facilities or to the repair and alteration thereof, or to the use or manner of use of the Facilities and which, if there is non­compliance, would materially adversely affect or impair the obligations of the Company under this Agreement or the ability of the Company to discharge such obligations. Notwithstanding the foregoing, the Company shall have the right to contest the legality of any such law, ordinance, order, rule, regulation or requirement as applied to the Facilities provided that in the opinion of counsel to the Company such contest shall not in any way materially adversely affect or impair the obligations of the Company under this Agreement or the ability of the Company to discharge such obligations.

 

SECTION 6.7. No Warranty.  The Issuer makes no warranty, either express or implied, as to the Facilities, including, without limitation, title to the Facilities or the actual or designed capacity of the Facilities, as to the suitability or operation of the Facilities for the purposes specified in this Agreement, as to the condition of the Facilities or as to the suitability thereof for the Company’s purposes or needs or as to compliance of the Facilities with applicable laws and regulations or the ability of the Company to discharge the Bonds. The Company covenants with the Issuer that it will make no claim against the Issuer for any deficiency which may at any time exist in the Facilities, nor will it assert against the Issuer any other claim for breach of warranty with respect to the Facilities. The obligations of the Company under this Section shall survive any assignment or termination of this Agreement.

 

ARTICLE VII

 

ASSIGNMENT, LEASING AND SELLING

 

SECTION 7.1. Limitation.  This Agreement shall not be assigned nor shall the Facilities be leased or sold, in whole or in part, except as provided in this Article VII or in Section 6.1 hereof or in the Indenture.

 

SECTION 7.2. Issuer’s Rights of Assignment.  The Issuer may, only in accordance with the Indenture, assign its rights and interests under this Agreement as set forth in Section 5.5 hereof (including the First Mortgage Bonds) and pledge the moneys receivable hereunder to the Trustee as security for payment of the principal of and premium, if any, and interest on the Bonds and all amounts payable under the Indenture, the Bonds and this Agreement. The Company hereby assents to such assignments and agrees that the Trustee may exercise and enforce in accordance with the Indenture any of the rights of the Issuer under this Agreement or the First Mortgage Bonds. Any such assignment, however, shall be subject to all of the rights and privileges of the Company as provided in this Agreement.

 

SECTION 7.3. Assignment by the Company.  The Company’s interest in this Agreement may be assigned in whole or in part, and the Facilities may be leased or sold as a whole or in part (whether a specific element or unit or an undivided interest), by the Company, subject, however, to the condition that no assignment, lease or sale (other than as described in Section 6.1 hereof) shall relieve the Company from primary liability for its obligations under Section 5.2 hereof to pay the Loan Payments, or for any other of its obligations hereunder or under the First Mortgage Bonds, other than those obligations relating to the operation, maintenance and insurance of the Facilities, which obligations (to the extent of the interest assigned, leased or sold and to the extent assumed by the assignee, lessee or purchaser) shall be deemed to be satisfied and discharged.

 

After any lease or sale of any element or unit of the Facilities, or any interest therein, such element or unit, or interest therein, shall no longer be deemed to be part of the Facilities for the purposes of this Agreement.

 

The Company shall, within fifteen (15) days after the delivery thereof, furnish to the Issuer and the Trustee a true and complete copy of the agreements or other documents effectuating any such assignment, lease or sale.

 

ARTICLE VIII

 

EVENTS OF DEFAULT AND REMEDIES

 

SECTION 8.1. Events of Default.  Each of the following events shall constitute and is referred to in this Agreement as an “Event of Default”:

 

(a)           a “Default” as such term is defined in Section 12.01 of the Company Mortgage;

 

(b)           a failure by the Company to make when due any Loan Payments required to be made pursuant to Section 5.2 hereof, which failure shall have resulted in an “Event of Default” under Section 10.1(a) or (b) of the Indenture; or

 

(c)           a failure by the Company to pay when due any other amount required to be paid under this Agreement or to observe and perform any covenant, condition or agreement on its part to be observed or performed, which failure shall continue for a period of ninety (90) days after written notice, specifying such failure and requesting that it be remedied, shall have been given to the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension of such period prior to its expiration; provided, however, that the Issuer and the Trustee shall be deemed to have agreed to an extension of such period if corrective action is initiated by the Company within such period and is being diligently pursued.

 

SECTION 8.2. Force Majeure.  The provisions of Section 8.1 hereof are subject to the following limitations: If by reason of acts of God; strikes, lockouts or other industrial disturbances; acts of public enemies; orders or other acts of any kind of the government of the United States or of the State of Louisiana, or any other sovereign entity or body politic, or any department, agency, political subdivision, court or official of any of them, or any civil or military authority; insurrections; riots; epidemics; landslides; lightning; earthquakes; volcanoes; fires; hurricanes; tornados; storms; floods; washouts; droughts; arrests; restraint of government and people; civil disturbances; explosions; breakage of, or accident to, machinery; partial or entire failure of utilities; or any cause or event not reasonably within the control of the Company, the Company is unable in whole or in part to carry out any one or more of its agreements or obligations contained herein, other than its obligations under Section 5.2 hereof to pay the Loan Payments and its obligations under Sections 5.8, 6.1, 6.4 and 9.1 hereof, the Company shall not be deemed in default by reason of not carrying out said agreement or agreements or performing said obligation or obligations during the continuance of such inability. The Company agrees, however, to use its best efforts to remedy with all reasonable dispatch the cause or causes preventing it from carrying out its agreements; provided, that the settlement of strikes, lockouts and other industrial disturbances shall be entirely within the discretion of the Company, and the Company shall not be required to make settlement of strikes, lockouts and other industrial disturbances by acceding to the demands of the opposing party or parties when such course, is in the judgment of the Company, unfavorable to the Company.

 

SECTION 8.3. Remedies on Default.  (a)  Upon the occurrence and continuance of any Event of Default described in clause (a) of Section 8.1 hereof, the Trustee, as the holder of the First Mortgage Bonds, shall, subject to the provisions of the Indenture, have the rights provided in the Company Mortgage.

 

(b) Upon the occurrence and continuance of any Event of Default described in Section 8.1 hereof, and further upon the condition that, in accordance with the terms of the Indenture, the Bonds shall have become immediately due and payable pursuant to any provision of the Indenture, the Loan Payments required to be paid pursuant to Section 5.2 hereof shall, without further action, become and be immediately due and payable.

 

(c) Upon the occurrence and continuance of any Event of Default, the Issuer with the prior consent of the Trustee, or the Trustee, may take any action at law or in equity (including as a holder of the First Mortgage Bonds) to collect the payments then due and thereafter to become due hereunder, or to enforce performance and observance of any obligation, agreement or covenant of the Company under this Agreement.

 

(d) Any amounts collected pursuant to action taken under this Section shall be applied in accordance with the Indenture.

 

(e) In case any proceeding taken by the Issuer or the Trustee on account of any Event of Default shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Issuer or the Trustee, then and in every such case the Issuer and the Trustee shall be restored to their former positions and rights hereunder, respectively, and all rights, remedies and powers of the Issuer and the Trustee shall continue as though no such proceeding had been taken.

 

SECTION 8.4. No Remedy Exclusive.  No remedy conferred upon or reserved to the Issuer or the Trustee by this Agreement is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any Event of Default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right or power may be exercised from time to time and as often as may be deemed expedient. In order to entitle the Issuer or the Trustee to exercise any remedy reserved to it in this Article, it shall not be necessary to give any notice other than such notice as may be required in this Article.

 

SECTION 8.5. Agreement to Pay Attorneys’ Fees and Expenses.  In the event the Company should default under any of the provisions of this Agreement and the Issuer or the Trustee should employ attorneys or incur other expenses for the collection of payments due hereunder or for the enforcement of performance or observance of any obligation or agreement on the part of the Company contained herein or in the First Mortgage Bonds, the Company agrees that it will on demand therefor pay to the Issuer or the Trustee, as the case may be, the reasonable fees of such attorneys and such other expenses so incurred.

 

SECTION 8.6. Waiver of Breach.  In the event that any agreement contained herein shall be breached by either the Company or the Issuer and such breach shall thereafter be waived by the other party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other breach hereunder. In view of the assignment of the Issuer’s rights in and under this Agreement to the Trustee under the Indenture, the Issuer shall have no power to waive any default hereunder by the Company without the consent of the Trustee. Any waiver of any “Event of Default” under the Indenture and a rescission and annulment of its consequences, and any waiver of any “Default” under the Company Mortgage and a rescission and annulment of its consequences, shall constitute a waiver of the corresponding Event of Default hereunder or a “Default” thereunder and a rescission and annulment of the consequences thereof.

 

ARTICLE IX

REDEMPTION OR PURCHASE OF BONDS

 

SECTION 9.1. Redemption of Bonds.  The Issuer shall take the actions required by the Indenture to discharge the lien thereof through the redemption, or provision for payment or redemption, of all Bonds then outstanding, or to effect the redemption, or provision for payment or redemption, of less than all the Bonds then outstanding, upon receipt by the Issuer and the Trustee from the Company of a notice designating the principal amounts, series and maturities of the Bonds to be redeemed, or for the payment or redemption of which provision is to be made, and, in the case of redemption of Bonds, or provision therefor, specifying the date of redemption, which shall not be less than forty-five (45) days from the date such notice is given (or such shorter period as may be agreed to by the Trustee), and the applicable redemption provision of the Indenture. Unless otherwise stated therein or otherwise required by the Indenture, such notice shall be revocable by the Company at any time prior to the time at which the Bonds to be redeemed, or for the payment or redemption of which provision is to be made, are first deemed to be paid in accordance with Article IX of the Indenture. The Company shall furnish, as a prepayment of the Loan Payments, any moneys or Government Securities (as defined in the Indenture) required by the Indenture to be deposited with the Trustee or otherwise paid by the Issuer in connection with any of the foregoing purposes.

 

SECTION 9.2. Purchase of Bonds.  The Company may at any time, and from time to time, furnish moneys to the Trustee accompanied by a notice directing the Trustee to apply such moneys to the purchase in the open market of Bonds in the principal amounts and of the series and maturities specified in such notice, and any Bonds so purchased shall thereupon be canceled by the Trustee.

 

ARTICLE X

 

MISCELLANEOUS

 

SECTION 10.1. Notices.  Except as otherwise provided in this Agreement, all notices, certificates or other communications shall be sufficiently given and shall be deemed given when mailed by registered or certified mail, postage prepaid, to the Issuer, the Company or the Trustee. Copies of each notice, certificate or other communication given hereunder by or to the Company shall be mailed by registered or certified mail, postage prepaid, to the Trustee; provided, however, that the effectiveness of any such notice shall not be affected by the failure to send any such copies. Notices, certificates or other communications shall be sent to the following addresses:

 

	
  

	
Company:

	
Entergy Gulf States Louisiana, L.L.C.

	
  

	
639 Loyola Avenue

	
  

	
New Orleans, LA  70113

	
  

	
ATTN:  Mary Ann Valladares

	
  

	
Phone:  504-576-4698

	
  

	
Email:  mvallad@entergy.com

 

 

	
  

	
Issuer:

	
Louisiana Public Facilities Authority

2237 South Acadian Thruway, Suite 650

Baton Rouge, LA  70808

ATTN:  President and CEO

Phone:  225-923-0020

Email:  parks@lpfa.com

 

 

	
  

	
Trustee and

	
  

	
Bond Registrar:

	
The Bank of New York Mellon Trust Company, N.A.

	
  

	
The Bank of New York Mellon Plaza

	
  

	
10161 Centurion Parkway

	
  

	
Jacksonville, FL  32256

	
  

	
ATTN:  Global Corporate Trust Division

	
  

	
Phone:  904-645-1943

	
  

	
Email:  cindy.moore@bnymellon.com

Any of the foregoing may, by notice given hereunder, designate any further or different addresses to which subsequent notices, certificates or other communications shall be sent.

 

SECTION 10.2. Severability.  If any provision of this Agreement shall be held or deemed to be or shall, in fact, be illegal, inoperative or unenforceable, the same shall not affect any other provision or provisions herein contained or render the same invalid, inoperative, or unenforceable to any extent whatever.

 

SECTION 10.3. Execution of Counterparts.  This Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.

 

SECTION 10.4. Amounts Remaining in Bond Fund.  It is agreed by the parties hereto that after payment in full of (i) the Bonds (or the provision for payment thereof having been made in accordance with the provisions of the Indenture), (ii) the Administration Expenses of the Issuer, and (iii) all other amounts required to be paid under this Agreement and the Indenture, any amounts remaining in the Bond Fund shall belong to and be paid by the Trustee to the Company.

 

SECTION 10.5. Amendments, Changes and Modifications.  Except as otherwise provided in this Agreement or the Indenture, subsequent to the initial issuance of Bonds and prior to payment in full of the Bonds (or provision for payment thereof having been made in accordance with the provisions of the Indenture), this Agreement may not be effectively amended, changed, modified, altered or terminated nor any provision waived without the written consent of the Trustee, which shall not be unreasonably withheld.

 

SECTION 10.6. Governing Law.  This Agreement shall be governed exclusively by and construed in accordance with the applicable laws of the State of Louisiana.

 

SECTION 10.7. Authorized Company Representatives.  An Authorized Company Representative shall act on behalf of the Company whenever the approval of the Company is required or the Company requests the Issuer to take some action, and the Issuer and the Trustee shall be authorized to act on any such approval or request and neither party hereto shall have any complaint against the other or against the Trustee as a result of any such action taken.

 

SECTION 10.8. Term of the Agreement.  This Agreement shall be in full force and effect from the date hereof until the right, title and interest of the Trustee in and to the Trust Estate (as defined in the Indenture) shall have ceased, terminated and become void in accordance with Article IX of the Indenture and until all payments required under this Agreement shall have been made.

 

SECTION 10.9. No Personal Liability.  No covenant or agreement contained in this Agreement shall be deemed to be the covenant or agreement of any official, officer, agent, or employee of the Issuer in his individual capacity, and no such person shall be subject to any personal liability or accountability by reason of the issuance thereof.

 

SECTION 10.10. Parties in Interest.  This Agreement shall inure to the benefit of and shall be binding upon the Issuer, the Company, the Trustee and their respective successors and assigns, and no other person, firm or corporation shall have any right, remedy or claim under or by reason of this Agreement; provided, however, that any monetary obligation of the Issuer created by or arising out of this Agreement shall be payable solely out of the Revenues and shall not constitute, and no breach of this Agreement by the Issuer shall impose, a pecuniary liability upon the Issuer or a charge upon the Issuer’s general credit.

 

IN WITNESS WHEREOF, the Issuer and the Company have caused this Agreement to be signed on their behalf by their duly authorized representatives as of the date set forth above.

 

LOUISIANA PUBLIC FACILITIES AUTHORITY

By:  /s/ Guy Campbell, III

                 Chairman

ATTEST:

 

 

By: /s/ James W. Parks                                                                                                                     [SEAL]

       Assistant Secretary

 

 

WITNESSES:

/s/ Jacob S. Capraro

 

/s/ Sharon A. Penning

 

ENTERGY GULF STATES LOUISIANA, L.L.C.

By: /s/ Mary Ann Valladares

            Assistant Treasurer

WITNESSES:

/s/ Leah W. Dawsey

 

/s/ Shannon K. Ryersona076104f.htm

 

Counterpart __ of 50

 

 

 Exhibit 4(f)

 

 

ENTERGY GULF STATES LOUISIANA, L.L.C.

(Successor by merger to Entergy Gulf States, Inc., formerly Gulf States Utilities Company)

 

 

446 North Boulevard

Baton Rouge, Louisiana 70802

 

 

TO

 

 

THE BANK OF NEW YORK MELLON

(Formerly The Bank of New York, successor to JPMorgan Chase Bank, N.A.)

as Trustee

 

 

101 Barclay Street

New York, New York 10286

 

 

__________________

 

 

 

 

 

Eightieth Supplemental Indenture

 

 

Dated as of October 1, 2010

 

 

__________________

 

 

Relating to an Issue of First Mortgage Bonds,

Series F due November 1, 2015

and Supplementing Indenture of Mortgage

dated September 1, 1926

__________________

 

 

THIS INSTRUMENT GRANTS A SECURITY

INTEREST BY A UTILITY

 

 

THIS INSTRUMENT CONTAINS AFTER-ACQUIRED

PROPERTY PROVISIONS

 

 

 

 

THIS EIGHTIETH SUPPLEMENTAL INDENTURE, dated as of the 1st day of October, 2010, by and between ENTERGY GULF STATES LOUISIANA, L.L.C. (successor by merger to Entergy Gulf States, Inc., formerly Gulf States Utilities Company, a Texas corporation hereinafter sometimes called the Predecessor Company), a limited liability company duly organized and existing under the laws of the State of Louisiana (hereinafter sometimes called the Company), party of the first part, and THE BANK OF NEW YORK MELLON (formerly The Bank of New York, successor to JPMorgan Chase Bank, N.A.), a New York banking corporation and having its corporate trust office in the Borough of Manhattan, City and State of New York, as successor trustee under the Indenture of Mortgage and indentures supplemental thereto hereinafter mentioned (hereinafter sometimes called the Trustee), party of the second part;

 

WHEREAS, the Predecessor Company has heretofore executed and delivered its Indenture of Mortgage, dated September 1, 1926 (hereinafter sometimes called the Original Indenture), to The Chase National Bank of the City of New York, as trustee, in and by which the Predecessor Company conveyed and mortgaged to said The Chase National Bank of the City of New York, as trustee, certain property, therein described, to secure the payment of its bonds issued and to be issued under said Original Indenture in one or more series, as therein provided; and

 

 

WHEREAS, the Predecessor Company has heretofore executed and delivered to The Chase National Bank of the City of New York, as trustee, the First through the Fourth Supplemental Indentures, all supplementing and modifying said Original Indenture; and

 

 

WHEREAS, on March 21, 1939, The Chase National Bank of the City of New York resigned as trustee under the Original Indenture and all indentures supplemental thereto as aforesaid, pursuant to Section 4 of Article XIV of the Original Indenture, and by an Indenture dated March 21, 1939 said resignation was accepted and Central Hanover Bank and Trust Company was duly appointed the successor trustee under the Original Indenture and all indentures supplemental thereto, said resignation and appointment both being effective as of March 21, 1939, and the Central Hanover Bank and Trust Company did by said Indenture dated March 21, 1939 accept the trust under the Original Indenture and all indentures supplemental thereto; and

 

 

WHEREAS, the Predecessor Company has heretofore executed and delivered to Central Hanover Bank and Trust Company, as successor trustee, the Fifth through the Tenth Supplemental Indentures, supplementing and modifying said Original Indenture; and

 

 

WHEREAS, the name of Central Hanover Bank and Trust Company, successor trustee, as aforesaid, was changed effective June 30, 1951 to “The Hanover Bank”; and

 

 

WHEREAS, the Predecessor Company has heretofore executed and delivered to The Hanover Bank, as successor trustee, the Eleventh through the Twentieth Supplemental Indentures, supplementing and modifying said Original Indenture; and

 

 

WHEREAS, on September 8, 1961, pursuant to the laws of the State of New York, The Hanover Bank, successor trustee, as aforesaid, was duly merged into Manufacturers Trust Company, a New York corporation, under the name “Manufacturers Hanover Trust Company,” and Manufacturers Hanover Trust Company thereupon became the duly constituted successor trustee under the Original Indenture, as supplemented and modified as aforesaid; and

 

 

WHEREAS, the Predecessor Company has heretofore executed and delivered to Manufacturers Hanover Trust Company, as successor trustee, the Twenty-first through the Fifty-fourth Supplemental Indentures, supplementing and modifying said Original Indenture; and

 

 

WHEREAS, on June 19, 1992, pursuant to the laws of the State of New York, Manufacturers Hanover Trust Company, successor trustee, as aforesaid, was duly merged into Chemical Bank, a New York corporation, under the name “Chemical Bank,” and Chemical Bank thereupon became the duly constituted successor trustee under the Original Indenture, as supplemented and modified as aforesaid; and

 

 

WHEREAS, the Predecessor Company has heretofore executed and delivered to Chemical Bank, as successor trustee, the Fifty-fifth through the Fifty-seventh Supplemental Indentures, supplementing and modifying said Original Indenture; and

 

 

WHEREAS, the name of Chemical Bank, successor trustee, as aforesaid, was duly merged with and changed effective July 14, 1996 to “The Chase Manhattan Bank”; and

 

 

WHEREAS, the Predecessor Company has heretofore executed and delivered to The Chase Manhattan Bank, as successor trustee, the Fifty-eighth through Sixtieth Supplemental Indentures, supplementing and modifying said Original Indenture; and

 

 

WHEREAS, the name of The Chase Manhattan Bank, successor trustee, as aforesaid, was duly changed effective November 10, 2001 to “JPMorgan Chase Bank”; and

 

 

WHEREAS, the Predecessor Company has heretofore executed and delivered to JPMorgan Chase Bank, as successor trustee, the Sixty-first through Sixty-seventh Supplemental Indentures, supplementing and modifying said Original Indenture; and

 

 

WHEREAS, effective November 13, 2004, JPMorgan Chase Bank, successor trustee, was converted from a New York corporation to a national banking association under the name “JPMorgan Chase Bank, N.A.”; and

 

 

WHEREAS, the Predecessor Company has heretofore executed and delivered to JPMorgan Chase Bank, N.A., as successor trustee, the Sixty-eighth through Seventy-fourth Supplemental Indentures, supplementing and modifying said Original Indenture; and

 

 

WHEREAS, on October 3, 2007, JPMorgan Chase Bank, N.A. resigned as trustee under the Original Indenture and all indentures supplemental thereto as aforesaid, by an Agreement of Resignation, Appointment and Acceptance dated October 3, 2007, said resignation was accepted, and The Bank of New York was duly appointed the successor trustee under the Original Indenture and all indentures supplemental thereto, said resignation and appointment both being effective as of October 3, 2007, and The Bank of New York did by said Agreement dated October 3, 2007 accept the trust under the Original Indenture and all indentures supplemental thereto; and

 

 

WHEREAS, the series of bonds established under the Seventh Supplemental Indenture supplementing and modifying said Original Indenture and under each successive supplemental indenture have been designated respectively and are referred to herein as “Bonds of the 1976, 1978, 1979, 1980, 1981, 1982, 1983, 1986, 1987, 1988, 1989, 1989A, 1990, 1992, 1996, 1997, 1998, 1998A, 1999, 1999A, 2000, 2000A, 2001, 2003, 2004, 2005, 2006, 2007, 2009, 2009A, 1987A, 2010, 1991, 1993, 1992A, 2012, 2013, 2013A, 1994, 2014B, C and D, 2015, 2016, 2016A, 1994A, 2002, 2022, 2004A, 2024, 1996A, 1997A, 1998B, 1999B, 2003A, MTN, 2003B, 2004B, 2007A, 2012A, 2008, 2007B, 2033, 2015A, 2011, 2009B, 2014E, 2035, 2015B, 2010A, 2006A, 2008A, 2011B, 2018, 2024, 2020 and 2028E Series”; and

 

 

WHEREAS, effective as of December 26, 2007, the Predecessor Company obtained the release from the lien of the Original Indenture, as supplemented and modified of all of its real property located in Texas and substantially all of its personal property located in Texas that was part of the trust estate, together with certain associated rights, privileges and franchises, as well as certain undivided interests in mortgaged property located in Louisiana, as more particularly described in the instruments of partial release filed with respect thereto on or before December 26, 2007; and

 

 

WHEREAS, effective as of 1:00 P.M. Central Standard Time, December 31, 2007, the Predecessor Company underwent a merger by division under Texas law pursuant to which, among other things, all of its property located in Texas, together with certain property located in Louisiana, was allocated to Entergy Texas, Inc., substantially all of its property located in Louisiana was retained by the Predecessor Company, and all of its obligations and liabilities under the Original Indenture, as supplemented and modified and the Bonds were retained by the Predecessor Company; and

 

 

WHEREAS, effective as of 4:00 P.M. Central Standard Time, December 31, 2007 (hereinafter sometimes called the Effective Time), the Predecessor Company merged (hereinafter sometimes called the Merger) into the Company pursuant to an Agreement and Plan of Merger and Reorganization of Entergy Gulf States, Inc. into Entergy Gulf States Louisiana, L.L.C. and a Certificate and Articles of Merger (hereinafter sometimes collectively called the Merger Documents), pursuant to which, among other things, (1) all of the rights, privileges, franchises, assets, liabilities and obligations of the Predecessor Company were allocated to the Company; and (2) the identity of the Predecessor Company was merged into that of the Company; and

 

 

WHEREAS, pursuant to Section 14.01 of the Original Indenture, as restated by the Seventh Supplemental Indenture, the Company and the Trustee executed the Seventy-fifth Supplemental Indenture dated as of December 31, 2007 whereby the Company assumed and agreed to pay duly and punctually the principal of and interest on the Bonds issued under the Original Indenture, as supplemented and modified in accordance with the provisions of said Bonds and the Original Indenture, as supplemented and modified, and agreed to perform and fulfill all the terms, covenants and conditions of the Original Indenture, as supplemented and modified binding the Predecessor Company; and

 

 

WHEREAS, pursuant to Section 14.02 of the Original Indenture, as restated by the Seventh Supplemental Indenture, the Company has succeeded to the Predecessor Company under the Original Indenture and all indentures supplemental thereto with the same effect as if it had been named in the Original Indenture, as supplemented and modified, as the mortgagor company and in the Bonds as the obligor thereon or maker thereof;

 

 

WHEREAS, pursuant to Section 14.03 of the Original Indenture, as restated by the Seventh Supplemental Indenture, in respect of property owned by the Predecessor Company at the time of the Merger as provided in Section 14.01 of the Original Indenture, as restated by the Seventh Supplemental Indenture, and substitutions, replacements, additions, betterments, developments, extensions and enlargements thereto subsequently made, constructed or acquired, the rights and duties of the Company shall be the same as the rights and duties of the Predecessor Company would have been had the Merger not taken place; and

 

 

WHEREAS, pursuant to Section 14.04 of the Original Indenture, as restated by the Seventh Supplemental Indenture, in respect of property at the time of the Merger owned by the Company and/or of property thereafter acquired by the Company except said substitutions, replacements, additions, betterments, developments, extensions and enlargements to, of or upon the property owned by the Predecessor Company referred to in Section 14.03 of the Original Indenture, as restated by the Seventh Supplemental Indenture, the Original Indenture, as supplemented and modified shall not become or be a lien upon any of such property; and

 

 

WHEREAS, effective as of March 25, 2008, the Company obtained the release from the lien of the Original Indenture, as supplemented and modified, of all of the remainder of its property located in Texas that was part of the trust estate, together with certain associated rights, privileges and franchises, as well as certain undivided interests in mortgaged property located in Louisiana, as more particularly described in the instruments of partial release filed with respect thereto on or before March 25, 2008; and

 

 

WHEREAS, the name of The Bank of New York, successor trustee, as aforesaid, was duly changed effective July 1, 2008 to “The Bank of New York Mellon”; and

 

 

WHEREAS, the Company has heretofore executed and delivered to The Bank of New York Mellon, as successor trustee, the Seventy-sixth through Seventy-ninth Supplemental Indentures, supplementing and modifying said Original Indenture; and

 

 

WHEREAS, under the Original Indenture, as supplemented and modified, any new series of Bonds may at any time be established by the Board of Directors of the Company and the terms thereof may be specified by a supplemental indenture executed by the Company and the Trustee; and

 

 

WHEREAS, the Company proposes to create under the Original Indenture, as supplemented and modified as aforesaid and as further supplemented by this Eightieth Supplemental Indenture (the Original Indenture as so supplemented and modified being hereinafter sometimes called the Indenture), a new series of Bonds to be designated First Mortgage Bonds, Series F due November 1, 2015, such Bonds when originally issued to be dated October 5, 2010 and to mature on November 1, 2015 (hereinafter sometimes referred to as the Bonds of the 2015 F Series, and presently to issue $32,606,000 aggregate principal amount of the Bonds of the 2015 F Series; and

 

 

WHEREAS, all acts and proceedings required by law and by the Articles of Organization and Operating Agreement of the Company necessary to make the Bonds of the 2015 F Series, when executed by the Company, authenticated and delivered by the Trustee and duly issued, the valid, binding and legal obligations of the Company, and to constitute the Indenture a valid and binding mortgage for the security of all the Bonds of the Company issued or to be issued under the Indenture, in accordance with its and their terms, have been done and taken; and the execution and delivery of this Eightieth Supplemental Indenture have been in all respects duly authorized;

 

 

NOW, THEREFORE, THIS EIGHTIETH SUPPLEMENTAL INDENTURE WITNESSETH:

 

 

That in order to secure the payment of the principal of, premium, if any, and interest on, all Bonds at any time issued and outstanding under the Indenture, according to their tenor, purport and effect, and to secure the performance and observance of all the covenants and conditions in said Bonds and in the Indenture contained, and to declare the terms and conditions upon and subject to which the Bonds of the 2015 F Series are and are to be issued and secured, and for and in consideration of the premises and of the mutual covenants herein contained and of the acceptance of the Bonds of the 2015 F Series by the holders thereof, and of the sum of $1 duly paid to the Company by the Trustee, at or before the execution and delivery hereof, and for other valuable consideration, the receipt whereof is hereby acknowledged, the Company has executed and delivered this Eightieth Supplemental Indenture, and by these presents does grant, bargain, sell, alienate, remise, release, convey, assign, transfer, mortgage, hypothecate, pledge, set over and confirm unto the Trustee, its successors in trust and assigns, the following property, rights, privileges and franchises hereinafter described, acquired or constructed by the Company after the Effective Time to the extent constituting substitutions, replacements, additions, betterments, developments, extensions or enlargements to, of or upon the trust estate allocated to the Company by the Merger Documents, together in each case with any substitutions, replacements, additions, betterments, developments, extensions and enlargements thereto, thereof or thereupon subsequently made, constructed or acquired by the Company (other than excepted property as hereinafter defined):

 

 

CLAUSE I

 

 

All and singular the lands, real estate, chattels real, interests in land, leaseholds, ways, rights of way, grants, easements, servitudes, rights pursuant to ordinances, consents, permits, patents, licenses, lands under water, water and riparian rights, franchises, privileges, immunities, rights to construct, maintain and operate distribution and transmission systems, all other rights and interests, gas, water, steam and electric light, heat and power plants and systems, dams, and dam sites, stations and substations, powerhouses, electric transmission and distribution lines and systems, pipe lines, conduits, towers, poles, wires, cables and all other structures, machinery, engines, boilers, dynamos, motors, transformers, generators, electric and mechanical appliances, office buildings, warehouses, garages, stables, sheds, shops, tunnels, subways, bridges, other buildings and structures, implements, tools and other apparatus, appurtenances and facilities, materials and supplies, and all other property of any nature appertaining to any of the plants, systems, business or operations of the Company, whether or not affixed to the realty, used in the operation of any of the premises or plants or systems, or otherwise, allocated to the Company by the Merger Documents or constituting substitutions, replacements, additions, betterments, developments, extensions or enlargements to, of or upon the trust estate allocated to the Company by the Merger Documents (other than excepted property as hereinafter defined); including, but not limited to, all its properties situated in the Cities of Baton Rouge, Jennings and Lake Charles and in the Parishes of Acadia, Allen, Ascension, Beauregard, Calcasieu, Cameron, East Baton Rouge, East Feliciana, Iberia, Iberville, Jefferson Davis, Lafayette, Livingston, Pointe Coupee, St. Helena, St. Landry, St. Martin, St. Tammany, Tangipahoa, Vermilion, Washington, West Baton Rouge and West Feliciana, Louisiana, and vicinity allocated to the Company by the Merger Documents or constituting substitutions, replacements, additions, betterments, developments, extensions or enlargements to the trust estate allocated to the Company by the Merger Documents (other than excepted property as hereinafter defined).

 

 

CLAUSE II

 

 

All corporate, Federal, State, county (parish), municipal and other permits, consents, licenses, bridge licenses, bridge rights, river permits, franchises, patents, rights pursuant to ordinances, grants, privileges and immunities of every kind and description allocated to the Company by the Merger Documents or constituting substitutions, replacements, additions, betterments, developments, extensions or enlargements to, of or upon the trust estate allocated to the Company by the Merger Documents (other than excepted property as hereinafter defined).

 

 

CLAUSE III

 

 

Also all other property, real, personal or mixed, tangible or intangible of every kind, character and description, allocated to the Company by the Merger Documents or constituting substitutions, replacements, additions, betterments, developments, extensions or enlargements to, of or upon the trust estate allocated to the Company by the Merger Documents (other than excepted property as hereinafter defined), whether or not useful in the generation, manufacture, production, transportation, distribution, sale or supplying of electricity, steam, water or gas.

 

 

CLAUSE IV

 

PROPERTIES EXCEPTED

 

 

There is, however, expressly excepted and excluded from the lien and operation of this Indenture (1) all “excepted property” as defined and described in Granting Clause VII of the Original Indenture, as restated by the Seventh Supplemental Indenture (omitting from such exception specifically described property thereafter expressly subjected to the lien of the Indenture), (2) all property owned by the Company prior to the Merger and (3) all property acquired by the Company after the Merger not constituting substitutions, replacements, additions, betterments, developments, extensions or enlargements to, of or upon the trust estate allocated to the Company by the Merger Documents.

 

 

TO HAVE AND TO HOLD the trust estate and all and singular the lands, properties, estates, rights, franchises, privileges and appurtenances hereby mortgaged, hypothecated, conveyed, pledged or assigned, or intended so to be, together with all the appurtenances thereto appertaining and the rents, issues and profits thereof, unto the Trustee and its successors in trust and to its assigns, forever.

 

 

SUBJECT, HOWEVER, to the exceptions (except as omitted above in Clause IV hereof), reservations, restrictions, conditions, limitations, covenants and matters recited in Article Twenty of the Indenture, and in each respective Article Three of the Eighth and each consecutive succeeding Supplemental Indenture through the Seventeenth Supplemental Indenture and, likewise, of the Nineteenth through the Thirty-seventh Supplemental Indentures and, likewise, of the Thirty-ninth through the Fifty-seventh Supplemental Indentures or contained in any deeds and other instruments whereunder the Company has acquired any of the property now owned by it, to permitted encumbrances as defined in Subsection B of Section 1.07 of the Indenture, and, with respect to any property which the Company may hereafter acquire, to all terms, conditions, agreements, covenants, exceptions and reservations expressed or provided in the deeds or other instruments, respectively, under and by virtue of which the Company shall hereafter acquire the same and to any liens thereon existing, and to any liens for unpaid portions of the purchase money placed thereon, at the time of such acquisition.

 

 

BUT, IN TRUST, NEVERTHELESS, for the equal and proportionate use, benefit, security and protection of those who from time to time shall hold the Bonds and coupons, if any, authenticated and delivered under the Indenture and duly issued by the Company, without any discrimination, preference or priority of any one Bond or coupon, if any, over any other by reason of priority in the time of issue, sale or negotiation thereof or otherwise, except as provided in Section 12.28 of the Original Indenture, as restated by the Seventh Supplemental Indenture, so that, subject to said Section 12.28 of the Original Indenture, as restated by the Seventh Supplemental Indenture, each and all of said Bonds and coupons, if any, shall have the same right, lien and privilege under the Indenture and shall be equally secured thereby and shall have the same proportionate interest and share in the trust estate, with the same effect as if all the Bonds and coupons, if any, had been issued, sold and negotiated simultaneously.

 

 

AND UPON THE TRUSTS, USES AND PURPOSES and subject to the covenants, agreements and conditions of the Original Indenture as modified and supplemented by previous supplemental indentures and by this Eightieth Supplemental Indenture.

 

ARTICLE ONE

BONDS OF THE 2015 F SERIES AND

CERTAIN PROVISIONS RELATING THERETO

 

Section 1.01

 

 

A.   Terms of Bonds of the 2015 F Series. There is hereby established a new series of Bonds to be issued under and secured by the Indenture, to be known as and entitled “First Mortgage Bonds, Series F due November 1, 2015”. The principal amount of the Bonds of the 2015 F Series shall not be limited except as provided in Section 3.01 of the Indenture, and except as may otherwise be provided in an indenture supplemental to the Indenture. The definitive Bonds of the 2015 F Series shall be registered Bonds without coupons of the denominations of $1,000 and in multiples of $1,000 in excess thereof as shall be authorized by written order of the Company, numbered R-1 consecutively upwards. Bonds of the 2015 F Series may be issued in the first instance (until definitive Bonds to be issued in exchange therefor are prepared and ready for delivery) as temporary Bonds dated October 5, 2010, in denominations of $1,000 and of such multiples of $1,000 as shall have been authorized, as aforesaid, numbered TR-1 consecutively upwards, in substantially the form of Bond set forth in Section 1.01B of this Eightieth Supplemental Indenture, with changes therein appropriate to their character.

 

 

Bonds of the 2015 F Series shall be dated as provided in Section 3.05 of the Indenture. The Bonds of the 2015 F Series shall mature on November 1, 2015.

 

 

The principal of the Bonds of the 2015 F Series will be paid in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts, at the corporate trust office in the Borough of Manhattan, City and State of New York, of the Trustee.

 

 

The Bonds of the 2015 F Series shall be issued in the aggregate principal amount of $32,606,000 and delivered to, and registered in the name of, The Bank of New York Mellon Trust Company, N.A. (the “LPFA Trustee”), the trustee under the Trust Indenture, dated as of October 1, 2010 (hereinafter called the "LPFA Indenture"), of the Louisiana Public Facilities Authority (hereinafter called the "LPFA"), relating to its 2.875% Revenue Bonds (Entergy Gulf States Louisiana, L.L.C. Project) Series 2010B (hereinafter called the "LPFA Bonds"), in order to evidence the Company's obligation to make certain payments under the Loan Agreement, dated as of October 1, 2010, between the LPFA and the Company (the "Loan Agreement").

 

 

The obligation of the Company to make any payment of principal of the Bonds of the 2015 F Series, whether at maturity, upon redemption or otherwise, shall be reduced by the amount of any reduction under the LPFA Indenture of the amount of the corresponding payment required to be made by the LPFA thereunder in respect of the principal of, or premium, if any, or interest on the LPFA Bonds, so that the aggregate principal amount of the Bonds of the 2015 F Series held by the LPFA Trustee after such reduction is as close as possible to, but not less than, the sum of the aggregate principal amount of the LPFA Bonds then outstanding plus eight and one-half months of the annual interest on such LPFA Bonds.  The Trustee may conclusively presume that the obligation of the Company to pay the principal of the Bonds of the 2015 F Series as the same shall become due and payable shall have been fully satisfied and discharged unless and until the Trustee shall have received a written notice (which may be a facsimile followed by a hard copy) from the LPFA Trustee, signed by its President, a Vice President or a Trust Officer, stating that the corresponding payment of principal of or interest on the LPFA Bonds has become due and payable and has not been fully paid and specifying the amount of funds required to make such payment.

 

 

In the event that the LPFA Bonds outstanding under the LPFA Indenture shall become immediately due and payable pursuant to Section 10.2 of the LPFA Indenture, upon the occurrence of an Event of Default under Section 10.1 (a), (b) or (e) of the LPFA Indenture, all the Bonds of the 2015 F Series, then outstanding, shall be redeemed by the Company, on the date such LPFA Bonds shall have become immediately due and payable, at a redemption price of 100% of the principal amount thereof. In the event that any LPFA Bonds are to be redeemed pursuant to Article III of the LPFA Indenture, the Bonds of the 2015 F Series, in a principal amount equal, as nearly as practicable, to the sum of (i) the principal amount of such LPFA Bonds being redeemed, and (ii) eight and one-half months of the annual interest due on such LPFA Bonds being redeemed shall be redeemed by the Company, on the date fixed for the redemption of such LPFA Bonds, at a redemption price of 100% of the principal amount thereof. The Trustee may conclusively presume that no redemption of the Bonds of the 2015 F Series is required pursuant to this paragraph unless and until the Trustee shall have received a written notice (which may be a facsimile followed by a hard copy) from the LPFA Trustee, signed by its President, a Vice President or a Trust Officer, stating that, as the case may be, the LPFA Bonds have become immediately due and payable pursuant to Section 10.2 of the LPFA Indenture, upon the occurrence of an Event of Default under Section 10.1 (a), (b) or (e) of the LPFA Indenture, or that the LPFA Bonds (or any portion thereof) are to be redeemed pursuant to Article III of the LPFA Indenture and specifying the date fixed for redemption and the principal amount thereof. Said notice shall also contain a waiver of notice of such redemption by the LPFA Trustee, as the holder of all the Bonds of the 2015 F Series then outstanding. As a condition to any redemption pursuant to this subsection (II), the LPFA Trustee is required to present the Bonds of the 2015 F Series to the Trustee for payment.

 

 

The Bonds of the 2015 F Series may bear such legends as may be necessary to comply with any law or with any rules or regulations made pursuant thereto or with the rules or regulations of any stock exchange or to conform to usage with respect thereto.

 

 

The Bonds of the 2015 F Series shall not be transferable except to a successor trustee under the LPFA Indenture.

 

 

The definitive Bonds of the 2015 F Series may be issued in the form of Bonds engraved, printed, lithographed, or partly engraved and partly printed or lithographed, on steel engraved borders or typed.

 

 

Upon compliance with the provisions of Section 3.10 of the Indenture and upon payment, at the option of the Company, of the charges provided in Section 3.11 of the Indenture, subject to the provisions of any legend set forth thereon, Bonds of the 2015 F Series may be exchanged for a new Bond or Bonds of the said Series of different authorized denominations of like aggregate principal amount. The Company hereby waives any right to make a charge for any exchange or transfer of Bonds of the 2015 F Series.

 

 

The Trustee hereunder shall, by virtue of its office as such Trustee, be the registrar and transfer agent of the Company for the purpose of registering and transferring Bonds of the 2015 F Series.

 

B.   Form of Bonds of the 2015 F Series. The Bonds of the 2015 F Series, and the Trustee’s authentication certificate to be executed on the Bonds of the 2015 F Series, shall be in substantially the following forms, respectively:

 

[FORM OF FACE OF BOND OF THE 2015 F SERIES]

 

 

THIS BOND IS NOT TRANSFERABLE EXCEPT TO THE SUCCESSOR TRUSTEE UNDER THE TRUST INDENTURE, DATED AS OF OCTOBER 1, 2010, BETWEEN THE LOUISIANA PUBLIC FACILITIES AUTHORITY AND THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., AS TRUSTEE.

 

 

 

	
No. R-___

	  	
CUSIP

	
$_____________

	  	  

 

ENTERGY GULF STATES LOUISIANA, L.L.C.

FIRST MORTGAGE BOND, SERIES F

DUE NOVEMBER 1, 2015

 

 

ENTERGY GULF STATES LOUISIANA, L.L.C., a Louisiana limited liability company (hereinafter sometimes called the “Company”), for value received, hereby promises to pay to The Bank of New York Mellon Trust Company, N.A., as Trustee under the Trust Indenture dated as of October 1, 2010 between the Louisiana Public Facilities Authority and the Trustee, or registered assigns, the principal amount set forth above on November 1, 2015.

 

 

The principal of this bond will be paid in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts, at the corporate trust office in the Borough of Manhattan, City and State of New York, of the Trustee under the Indenture.

 

 

This bond shall not become or be valid or obligatory for any purpose until the authentication certificate hereon shall have been signed by the Trustee.

 

 

The provisions of this bond are continued on the reverse hereof and such continued provisions shall for all purposes have the same effect as though fully set forth at this place.

 

 

IN WITNESS WHEREOF, Entergy Gulf States Louisiana, L.L.C. has caused these presents to be executed in its company name, by facsimile signature or manually, by its President or one of its Vice Presidents and by its Treasurer or an Assistant Treasurer under its company seal or a facsimile thereof, all as of _________, 20__.

 

ENTERGY GULF STATES LOUISIANA, L.L.C.

By: _____________________________________

       Name:

       Title:

 

And By: __________________________

  Name:

  Title:

 

[SEAL]

 

 

[FORM OF REVERSE OF BOND OF THE 2015 F SERIES]

 

 

 

 

ENTERGY GULF STATES LOUISIANA, L.L.C.

FIRST MORTGAGE BOND, SERIES F

DUE NOVEMBER 1, 2015 (Continued)

 

 

This bond is one of the bonds, of the above designated series, of an authorized issue of bonds of the Company, known as First Mortgage Bonds, issued or issuable in one or more series under and equally secured (except insofar as any sinking and/or improvement fund or other fund established in accordance with the provisions of the Indenture hereinafter mentioned may afford additional security for the bonds of any specific series) by an Indenture of Mortgage dated September 1, 1926, as supplemented and modified by indentures supplemental thereto, to and including a Eightieth Supplemental Indenture dated as of October 1, 2010 to The Bank of New York Mellon, as Trustee, to which Indenture of Mortgage, as so supplemented and modified, and all indentures supplemental thereto (herein sometimes called the Indenture) reference is hereby made for a description of the property mortgaged and pledged as security for said bonds, the nature and extent of the security, and the rights, duties and immunities thereunder of the Trustee, the rights of the holders of said bonds and of the Trustee and of the Company in respect of such security, and the terms upon which said bonds may be issued thereunder.

 

 

This bond has been issued in the aggregate principal amount of $32,606,000 and delivered to, and registered in the name of, The Bank of New York Mellon Trust Company, N.A. (the “LPFA Trustee”), the trustee under the Trust Indenture, dated as of October 1, 2010 (hereinafter called the "LPFA Indenture"), of the Louisiana Public Facilities Authority (hereinafter called the "LPFA"), relating to its 2.875% Revenue Bonds (Entergy Gulf States Louisiana, L.L.C. Project) Series 2010B (hereinafter called the "LPFA Bonds"), in order to evidence the Company's obligation to make certain payments under the Loan Agreement, dated as of October 1, 2010, between the LPFA and the Company (the "Loan Agreement").

 

 

The obligation of the Company to make any payment of principal of this bond, whether at maturity, upon redemption or otherwise, shall be reduced by the amount of any reduction under the LPFA Indenture of the amount of the corresponding payment required to be made by the LPFA thereunder in respect of the principal of, or premium, if any, or interest on the LPFA Bonds, so that the aggregate principal amount of this bond held by the LPFA Trustee after such reduction is as close as possible to, but not less than, the sum of the aggregate principal amount of the LPFA Bonds then outstanding plus eight and one-half months of the annual interest on such LPFA Bonds.  The Trustee may conclusively presume that the obligation of the Company to pay the principal of the bonds of this series as the same shall become due and payable shall have been fully satisfied and discharged unless and until the Trustee shall have received a written notice (which may be a facsimile followed by a hard copy) from the LPFA Trustee, signed by its President, a Vice President or a Trust Officer, stating that the corresponding payment of principal of or interest on the LPFA Bonds has become due and payable and has not been fully paid and specifying the amount of funds required to make such payment.

 

 

In the event that the LPFA Bonds outstanding under the LPFA Indenture shall become immediately due and payable pursuant to Section 10.2 of the LPFA Indenture, upon the occurrence of an Event of Default under Section 10.1 (a), (b) or (e) of the LPFA Indenture, all the bonds of this series, then outstanding, shall be redeemed by the Company, on the date such LPFA Bonds shall have become immediately due and payable, at a redemption price of 100% of the principal amount thereof. In the event that any LPFA Bonds are to be redeemed pursuant to Article III of the LPFA Indenture, the bonds of this series, in a principal amount equal, as nearly as practicable, to the sum of (i) the principal amount of such LPFA Bonds being redeemed, and (ii) eight and one-half months of the annual interest due on such LPFA Bonds being redeemed shall be redeemed by the Company, on the date fixed for the redemption of such LPFA Bonds, at a redemption price of 100% of the principal amount thereof. The Trustee may conclusively presume that no redemption of the bonds of this series is required pursuant to this paragraph unless and until the Trustee shall have received a written notice (which may be a facsimile followed by a hard copy) from the LPFA Trustee, signed by its President, a Vice President or a Trust Officer, stating that, as the case may be, the LPFA Bonds have become immediately due and payable pursuant to Section 10.2 of the LPFA Indenture, upon the occurrence of an Event of Default under Section 10.1 (a), (b) or (e) of the LPFA Indenture, or that the LPFA Bonds (or any portion thereof) are to be redeemed pursuant to Article III of the LPFA Indenture and specifying the date fixed for redemption and the principal amount thereof. Said notice shall also contain a waiver of notice of such redemption by the LPFA Trustee, as the holder of all the bonds of this series then outstanding. As a condition to any redemption pursuant to this subsection (II), the LPFA Trustee is required to present the bonds of this series to the Trustee for payment.

 

 

The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than seventy-five percent in principal amount of the bonds (exclusive of the bonds disqualified by reason of the Company’s interest therein) at the time outstanding, including, if more than one series of bonds shall be at the time outstanding, not less than sixty percent in principal amount of each series affected, to effect, by an indenture supplemental to the Indenture, modifications or alterations of the Indenture and of the rights and obligations of the Company and of the holders of the bonds; provided, however, that no such modification or alteration shall be made without the written approval or consent of the registered owner hereof which will (a) extend the maturity of this bond or reduce the rate or extend the time of payment of interest hereon or reduce the amount of the principal hereof, or (b) permit the creation of any lien, not otherwise permitted, prior to or on a parity with the lien of the Indenture, or (c) reduce the percentage of the principal amount of the bonds upon the approval or consent of the holders of which modifications or alterations may be made as aforesaid.

 

 

Subject to the restriction noted on this bond, this bond is transferable by the registered owner hereof in person or by his or her duly authorized attorney at the corporate trust office in the Borough of Manhattan, City and State of New York, of the Trustee upon surrender of this bond for cancellation and upon payment, if the Company shall so require, of the charges provided for in the Indenture, and thereupon a new registered bond of the same series of like principal amount will be issued to the transferee in exchange therefor.

 

 

The registered owner of this bond, at the option of said owner, may surrender the same for cancellation at said office and receive in exchange therefor the same aggregate principal amount of bonds of the same series but of other authorized denominations, upon payment, if the Company shall so require, of the charges provided for in the Indenture and subject to the terms and conditions therein set forth.

 

 

If a default as defined in the Indenture shall occur, the principal of this bond may become or be declared due and payable before maturity in the manner and with the effect provided in the Indenture. The holders, however, of certain specified percentages of the bonds at the time outstanding, including in certain cases specified percentages of bonds of particular series, may in those cases, to the extent and under the conditions provided in the Indenture, waive certain defaults thereunder and the consequences of such defaults.

 

 

No recourse shall be had for the payment of the principal of or the interest on this bond, or for any claim based hereon, or otherwise in respect hereof or of the Indenture, against any incorporator, shareholder, director or officer, past, present or future, as such, of the Company or of any predecessor or successor company, either directly or through the Company or such predecessor or successor company, under any constitution or statute or rule of law, or by the enforcement of any assessment or penalty, or otherwise, all such liability of incorporators, shareholders, directors and officers, as such, being waived and released by the holder and owner hereof by the acceptance of this bond and as provided in the Indenture.

 

 

[FORM OF TRUSTEE’S AUTHENTICATION CERTIFICATE FOR BONDS]

 

 

 

 

TRUSTEE’S AUTHENTICATION CERTIFICATE

 

 

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

 

THE BANK OF NEW YORK MELLON,

As Trustee

 

By: ______________________________

      Authorized Officer

 

Section 1.02.  Redemption Provisions for Bonds of the 2015 F Series.  The Bonds of the 2015 F Series shall be subject to redemption, in whole or in part, prior to maturity as provided in the Form of Bonds of the 2015 F Series set forth in Section 1.01B of this Eightieth Supplemental Indenture.

 

 

Section 1.03.  Duration of Effectiveness of Article One.  Sections 1.01 and 1.02 of this article shall be of force and effect only so long as any Bonds of the 2015 F Series are outstanding.

 

 

ARTICLE TWO

 

 

Section 2.01.  This Eightieth Supplemental Indenture is executed and shall be construed as an indenture supplemental to the Original Indenture as supplemented and modified. As heretofore supplemented and modified, and as supplemented hereby, the Original Indenture is in all respects ratified and confirmed, and the Original Indenture, as heretofore supplemented and modified, and this Eightieth Supplemental Indenture shall be read, taken and construed as one and the same instrument.

 

 

Section 2.02.  The recitals in this Eightieth Supplemental Indenture are made by the Company only and not by the Trustee; and all of the provisions contained in the Original Indenture as supplemented and modified, in respect to the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect hereof as fully and with like effect as if set forth herein in full.

 

 

Section 2.03.  Although this Eightieth Supplemental Indenture is dated for convenience and for the purpose of reference as of October 1, 2010, the actual date or dates of execution by the Company and by the Trustee are as indicated by their respective acknowledgements hereto annexed.

 

 

Section 2.04.  In order to facilitate the recording or filing of this Eightieth Supplemental Indenture, the same may be simultaneously executed in several counterparts and each shall be deemed to be an original and such counterparts shall together constitute one and the same instrument.

 

 

Section 2.05.  The words “herein”, “hereof”, “hereunder” and other words of similar import refer to this Eightieth Supplemental Indenture. All other terms used in this Eightieth Supplemental Indenture shall be taken to have the same meaning as in the Original Indenture and indentures supplemental thereto, except in cases where the context clearly indicates otherwise.

 

    IN TESTIMONY WHEREOF, ENTERGY GULF STATES LOUISIANA, L.L.C. has caused these presents to be executed in its name and behalf by its President or a Vice President and its company seal to be hereunto affixed or a facsimile thereof printed hereon and attested by its Secretary or an Assistant Secretary, and THE BANK OF NEW YORK MELLON, in token of its acceptance hereof, has likewise caused these presents to be executed in its name and behalf by its President or a Vice President and its corporate seal to be hereunto affixed and attested by a Vice President, an Assistant Vice President or a Trust Officer, each in the presence of the respective undersigned Notaries Public, and of the respective undersigned competent witnesses, as of the day and year first above written.

 

 

ENTERGY GULF STATES LOUISIANA, L.L.C.

 

 

By: /s/ Steven C. McNeal

      Name:  Steven C. McNeal

      Title:  Vice President and Treasurer     

 

 

(COMPANY SEAL)

 

 

Attest:

 

 

/s/ Dawn A. Abuso

Name: Dawn A. Abuso

Title: Assistant Secretary

 

Signed in the presence of: 

/s/ Leah W. Dawsey

Name: Leah W. Dawsey

 

/s/ Shannon K. Ryerson

Name: Shannon K. Ryerson

THE BANK OF NEW YORK MELLON

By: /s/ Scott I. Klein

      Name: Scott I. Klein

      Title: Vice President

 

Attest:

 

/s/ Laurence J. O’Brien

Name:  Laurence J. O’Brien

Title: Vice President

 

 

 

 

 

 

Signed, sealed and delivered in the presence of:

 

/s/ Sherma Thomas

Name: Sherma Thomas

 

/s/ Latoya Elvin

Name: Latoya Elvin

 

ENTERGY GULF STATES LOUISIANA, L.L.C.

 

 

United States of America,

State of Louisiana,                                           ss:

Parish of Orleans

 

 

I, the undersigned, a Notary Public duly qualified, commissioned, sworn and acting in and for the Parish and State aforesaid, hereby certify that, on this 30th day of September, 2010:

 

 

Before me personally appeared STEVEN C. McNEAL, Vice President and Treasurer, and DAWN A. ABUSO, Assistant Secretary, of Entergy Gulf States Louisiana, L.L.C., both of whom are known to me to be the persons whose names are subscribed to the foregoing instrument and both of whom are known to me to be Vice President and Treasurer, and Assistant Secretary, respectively, of said ENTERGY GULF STATES LOUISIANA, L.L.C., and separately acknowledged to me that they executed the same in the capacities therein stated for the purposes and considerations therein expressed and as the act and deed of ENTERGY GULF STATES LOUISIANA, L.L.C.

 

 

Before me personally came STEVEN C. McNEAL, to me known, who being by me duly sworn, did depose and say, that he resides in Mandeville, Louisiana; that he is Vice President and Treasurer of ENTERGY GULF STATES LOUISIANA, L.L.C., one of the companies described in and which executed the above instrument; that he knows the seal of said company; that the seal affixed to or printed on said instrument is such company seal; that it was so affixed by order of the Board of Directors of said company, and that he signed his name thereto by like order.

 

 

BE IT REMEMBERED, that before me, and in the presence of Leah W. Dawsey and Shannon K. Ryerson, competent witnesses, residing in said State, personally came and appeared STEVEN C. McNEAL and DAWN A. ABUSO, Vice President and Treasurer, and Assistant Secretary, respectively, of ENTERGY GULF STATES LOUISIANA, L.L.C., a limited liability company created by and existing under the laws of the State of Louisiana, with its Louisiana domicile in the City of Baton Rouge, Louisiana, and said STEVEN C. McNEAL and DAWN A. ABUSO declared and acknowledged to me, Notary, in the presence of the witnesses aforesaid, that they signed, executed and sealed the foregoing supplemental indenture for and on behalf of and in the name of ENTERGY GULF STATES LOUISIANA, L.L.C., and have affixed the company seal of said company to the same or caused it to be printed thereon, by and with the authority of the Board of Directors of said Company.

 

 

GIVEN UNDER MY HAND AND SEAL OF OFFICE this 30th day of September, 2010.

 

 

(Notarial Seal)

 

/s/ Jennifer B. Favalora

Name: Jennifer B. Favalora, Notary Public No. 57639

Parish of Orleans, State of Louisiana

My Commission is for Life.

 

 

 

TRUSTEE

 

United States of America,

State of New York,                                           ss:

County of New York,

 

 

I, the undersigned, a Notary Public duly qualified, commissioned, sworn and acting in and for the County and State aforesaid, hereby certify that, on this 30th day of September, 2010:

 

 

Before me personally appeared SCOTT I. KLEIN, a Vice President of THE BANK OF NEW YORK MELLON, and LAURENCE J. O’BRIEN, a Vice President, both of whom are known to me to be the persons whose names are subscribed to the foregoing instrument and both of whom are known to me to be a Vice President of THE BANK OF NEW YORK MELLON, and separately acknowledged to me that they executed the same in the capacities therein stated for the purposes and consideration therein expressed, and as the act and deed of THE BANK OF NEW YORK MELLON.

 

 

Before me personally came SCOTT I. KLEIN, to me known, who being by me duly sworn, did depose and say, he resides in Forest Hills, New York; that he is a Vice President of THE BANK OF NEW YORK MELLON, one of the entities described in and which executed the above instrument; that he knows the seal of said entity; that the seal affixed to said instrument is such corporate seal; that it was so affixed by order of the Board of Directors of said entity, and that he signed his name thereto by like order.

 

 

BE IT REMEMBERED, that before me, and in the presence of Sherma Thomas and Latoya Elvin, competent witnesses, residing in said state, personally came and appeared SCOTT I. KLEIN and LAURENCE J. O’BRIEN, each of whom being a Vice President of THE BANK OF NEW YORK MELLON, a New York banking corporation with a corporate trust office in the City of New York, New York, and said SCOTT I. KLEIN and LAURENCE J. O’BRIEN, declared and acknowledged to me, Notary, in the presence of the witnesses aforesaid that they signed, executed and sealed the foregoing supplemental indenture for and on behalf of and in the name of THE BANK OF NEW YORK MELLON, and have affixed the corporate seal of THE BANK OF NEW YORK MELLON to the same by and with the authority of the Board of Directors of THE BANK OF NEW YORK MELLON.

 

 

GIVEN UNDER MY HAND AND SEAL OF OFFICE this 30th day of September, 2010.

 

(Notarial Seal)

/s/ Daniel C. Marcel

Name: Daniel C. Marcel

Notary Public, State of New York

Notary Public No. 01MA6220648

Qualified in Westchester County

Commission Expires April 19, 2014

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