Document:

Exhibit 10.2

 

 

SETTLEMENT AGREEMENT

 

THIS SETTLEMENT AGREEMENT
(this “Agreement”) is entered into and effective as of March 9, 2021 (the “Effective Date”) by and between
Ascent Solar Technologies, INC., a Delaware corporation (the “Company”)
and GLOBAL ICHIBAN LIMITED, a British Virgin Islands corporation (hereinafter, the “Holder”). Each of the Company and
the Holder may be referred to individually as a “Party” and collectively as the “Parties”.

 

W I T N E S S E T H

 

WHEREAS, between
November 2017 and October 2018, the Company issued to the Holder separate Promissory Notes in the aggregate original principal
amount totaling $6,492,226.51 (the “Prior Notes”); and

WHEREAS, the Holder
exchanged the Prior Notes (then outstanding principal amount plus accrued interest equal to $6,360,340.80) for a Convertible Promissory
Note (the “Convertible Note”) in the amount of $6,400,000.00 newly issued by the Company pursuant to an Exchange Agreement
dated September 9, 2020 (the “Prior Exchange Agreement”); and

WHEREAS, the current
outstanding principal amount of the Convertible Note is $5,800,000; and

WHEREAS, the Holder
hereby agrees to exchange the Convertible Note issued by the Company for 168,000,000 shares of the Company’s Common Stock
(the “Shares”) to be newly issued by the Company pursuant to this Agreement; and

WHEREAS, the parties
to this Agreement intend that the transactions contemplated by this Agreement are such that the offer and exchange of securities
by the Company under this Agreement will be exempt from registration under applicable United States securities laws as a result
of this exchange offer being undertaken pursuant to Sections 3(a)(9) and 4(a)(2) of the Securities Act of 1933, as amended (the
“Securities Act”).

 

NOW, THEREFORE, in consideration
of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt of which is hereby
acknowledged it is hereby agreed as follows:

 

1.       Exchange;
Release of Lien, Security Agreement, Collateral.

 

(a)       Upon
the terms and conditions set forth in this Agreement, the Company hereby agrees to issue to the Holder the Shares in exchange for
the Convertible Note. Holder hereby agrees that by this exchange for the Shares, the Convertible Note shall be discharged, cancelled
and extinguished in its entirety.

 

(b)       The
parties hereby agree that the existing lien, security agreement and all collateral securing the Company’s obligations under
the Convertible Note are hereby terminated and released. Following the date of this Agreement, the parties will execute, deliver
and file all documents necessary to effect such termination and release.

 

2.       Registration
Rights. The Company hereby agrees to make commercially reasonable best efforts to (i) prepare and file one or more a resale
registration statements (the “Resale Registration”) with the Securities and Exchange Commission (“SEC”)
promptly following the Company’s filing with the SEC of its Forms 10-Q for the quarters ended June 30, 2020 and September
30, 2020, and its Form 10-K for the year ended December 31, 2020, (ii) cause such Resale Registration to be declared effective
by the SEC as soon as reasonably practicably after the filing thereof, and (iii) cause such Resale Registration to remain effective
until such time as all of the registered shares (x) have been sold pursuant to the Resale Registration or (y) may be sold without
volume or manner-of-sale securities law restrictions and without the requirement for the Company to be in compliance with the current
public information requirements under applicable securities laws. The Resale Registration shall register (i) all of the Shares
and (ii) any additional shares of the Company’s Common Stock currently held by the Holder and its transferees.

 

    	  

    	 

    

 

 

3.       Representations,
Warranties and Covenants of the Company. Except as set forth in the SEC Reports, which SEC Reports shall be deemed a part hereof
and shall qualify any representation or otherwise made herein to the extent of the disclosure contained in the corresponding section
of the SEC Reports, the Company hereby makes the following representations and warranties to the Holder as follows:

 

(a)       Organization,
Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the
laws of the State of Delaware. The Company has all requisite corporate power and authority to own and operate its properties and
assets, to execute and deliver this Agreement, to issue and sell the Shares, to carry out the provisions of this Agreement, and
to carry on its business as presently conducted and as presently proposed to be conducted.

 

(b)       Authorization.
All corporate action on the part of the Company, its directors and its stockholders necessary for the authorization, execution,
delivery and performance of this Agreement by the Company and the performance of the Company’s obligations hereunder, including
the issuance and delivery of the Shares, has been taken or will be taken prior to the issuance of the Shares. This Agreement, when
executed and delivered by the Company, shall constitute valid and binding obligations of the Company enforceable in accordance
with its terms, subject to laws of general application relating to bankruptcy, insolvency, the relief of debtors and, with respect
to rights to indemnity, subject to federal and state securities laws.

 

(c)       Capitalization.
All of the outstanding shares of capital stock of the Company are duly authorized, validly issued, fully paid and nonassessable,
have been issued in compliance with all federal and state securities laws, and none of such outstanding shares was issued in violation
of any preemptive rights or similar rights to subscribe for or purchase securities. No further approval or authorization of any
stockholder, the Board of Directors or others is required for the issuance and sale of the Shares. The Shares, when issued, paid
for and delivered in accordance with the terms of this Agreement, will be duly authorized, validly issued, fully paid and nonassessable
and not subject to preemptive rights.

 

(d)       Governmental
Consents. All consents, approvals, orders, or authorizations of, or registrations, qualifications, designations, declarations,
or filings with, any governmental authority, required on the part of the Company in connection with the valid execution and delivery
of this Agreement, the offer, sale or issuance of the Shares or the consummation of any other transaction contemplated hereby shall
have been obtained and will be effective at the Closing.

 

(e)       Compliance
with Laws. To its knowledge, the Company is not in violation of any applicable statute, rule, regulation, order or restriction
of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the
ownership of its properties, which violation of which would materially and adversely affect the business, assets, liabilities,
financial condition, operations or prospects of the Company.

 

    	  

    	 

    

 

 

(f)       Compliance
with Other Instruments. The Company is not in violation or default of any term of its charter or its bylaws, or of any provision
of any mortgage, indenture or contract to which it is a party and by which it is bound or of any judgment, decree, order or writ,
other than such violation(s) that would not have a material adverse effect on the Company. The execution, delivery and performance
of this Agreement, and the consummation of the transactions contemplated hereby or thereby will not result in any such violation
or be in conflict with, or constitute, with or without the passage of time and giving of notice, either a default under any such
provision, instrument, judgment, decree, order or writ or an event that results in the creation of any lien, charge or encumbrance
upon any assets of the Company or the suspension, revocation, impairment, forfeiture, or nonrenewal of any material permit, license,
authorization or approval applicable to the Company, its business or operations or any of its assets or properties.

 

(g)       Offering.

 

(i)       Assuming
the accuracy of the representations and warranties of the Holders contained in Section 4 hereof, the offer, issue, and sale of
the Shares are and will be exempt from the registration and prospectus delivery requirements of the Securities Act, and have been
registered or qualified (or are exempt from registration and qualification) under the registration, permit, or qualification requirements
of all applicable state securities laws.

 

(ii)       No
“Bad Actor” Disqualification. The Company has exercised reasonable care to determine whether any Company Covered
Person (as defined below) is subject to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through
(viii), as modified by Rules 506(d)(2) and (d)(3), under the Securities Act (“Disqualification Events”). To the Company’s
knowledge, no Company Covered Person is subject to a Disqualification Event. The Company has complied, to the extent required,
with any disclosure obligations under Rule 506(e) under the Securities Act. For purposes of this Agreement, “Company Covered
Persons” are those persons specified in Rule 506(d)(1) under the Securities Act; provided, however, that Company Covered
Persons do not include (a) any Holder, or (b) any person or entity that is deemed to be an affiliated issuer of the Company solely
as a result of the relationship between the Company and any Holder.

 

(h)       SEC
Filings; Financial Statements.

 

(i)       The
Company has filed with the SEC its Form 10-K for the year ended December 31, 2019 and its Form 10-Q for the quarter ended March
31, 2020 (the “SEC Reports”). The Company has not yet filed with the SEC its (i) Forms 10-Q for the quarters ended
June 30, 2020 and September 30, 2020 and (ii) Form 10-K for the year ended December 31, 2020. The SEC Reports (i) were prepared
in accordance with the requirements of the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and the rules and regulations promulgated thereunder and (ii) did not at the time they were filed contain any untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements
made therein, in the light of the circumstances under which they were made, not misleading.

 

(ii)       Each
of the financial statements (including, in each case, any notes thereto) contained in the SEC Reports was prepared in accordance
with United States generally accepted accounting principles (“GAAP”) applied on a consistent basis throughout the periods
indicated (except as may be indicated in the notes thereto) and the Company’s books and records, and each fairly presented
the financial position, results of operations and cash flows of the Company as at the respective dates thereof and for the respective
periods indicated therein except as otherwise noted therein (subject, in the case of unaudited statements, to normal year-end adjustments
which individually or in the aggregate did not have, and would not reasonably be expected to have, a material adverse effect on
the business, operations, assets, liabilities, financial condition or results of operations of the Company). The books and records
of the Company have been, and are being, maintained in accordance with applicable legal and accounting requirements in all material
respects.

 

    	  

    	 

    

 

 

4.       Representations,
Warranties and Covenants of the Holder. The Holder hereby represents and warrants to the Company as follows (provided that
such representations and warranties do not lessen or obviate the representations and warranties of the Company set forth in this
Agreement):

 

(a)       Purchase
for Own Account. Holder represents that it is acquiring the Shares solely for its own account and beneficial interest for investment
and not for sale or with a view to distribution of the Shares or any part thereof, has no present intention of selling (in connection
with a distribution or otherwise), granting any participation in, or otherwise distributing the same, and does not presently have
reason to anticipate a change in such intention.

 

(b)       Information
and Sophistication. Holder hereby: (i) acknowledges that it has received all the information it has requested from the Company
and it considers necessary or appropriate for deciding whether to acquire the Shares, (ii) represents that it has had an opportunity
to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Shares and to obtain
any additional information necessary to verify the accuracy of the information given the Holder and (iii) further represents that
it has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of
this investment.

 

(c)       Ability
to Bear Economic Risk. Holder acknowledges that investment in the Shares involves a high degree of risk, and represents that
it is able, without materially impairing its financial condition, to hold the Shares for an indefinite period of time and to suffer
a complete loss of its investment.

 

(d)       Rule
144. Holder acknowledges and agrees that the Shares are “restricted securities” as defined in Rule 144 promulgated
under the Act as in effect from time to time and must be held indefinitely unless they are subsequently registered under the Act
or an exemption from such registration is available. Holder has been advised or is aware of the provisions of Rule 144, which permits
limited resale of shares purchased in a private placement subject to the satisfaction of certain conditions. Holder acknowledges
that the Company has no obligation to register or qualify the Shares for resale.

 

(e)       Legends.
Holder acknowledges and agrees that the Shares may bear one or all of the following legends:

 

(i)       “THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED AND HAVE BEEN ACQUIRED
FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY
BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE
COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933 AS AMENDED.”

 

(ii)       Any
legend required by the state securities laws of any U.S. state to the extent such laws are applicable to the shares represented
by the certificate so legended.

 

(f)       Accredited
Investor Status. At the time Holder was offered the Shares, it was, and as of the date hereof (i) is an “accredited investor”
as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act, (ii) is a “qualified institutional
buyer” as defined in Rule 144A(a) under the Securities Act, or (iii) is not a U.S. Person as defined under Regulation S.

 

    	  

    	 

    

 

 

(g)       No
“Bad Actor” Disqualification. Holder represents and warrants that neither (A) the Holder nor (B) any entity that
controls the Holder or is under the control of, or under common control with, the Holder, is subject to any Disqualification Event,
except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Securities Act and disclosed in writing
in reasonable detail to the Company. The Holder represents that the Holder has exercised reasonable care to determine the accuracy
of the representation made by the Holder in this paragraph, and agrees to notify the Company if the Holder becomes aware of any
fact that makes the representation given by the Holder hereunder inaccurate.

 

(h)       Residence.
The Holder is an entity, and the office or offices of Holder in which its investment decision was made is located in Singapore.

 

(i)       Further
Assurances. Holder agrees and covenants that at any time and from time to time it will promptly execute and deliver to the
Company such further instruments and documents and take such further action as the Company may reasonably require in order to carry
out the full intent and purpose of this Agreement and to comply with state or federal securities laws or other regulatory approvals.

 

5.       Miscellaneous.

 

(a)               
Notices. All notices or other communications required or permitted by this Agreement
or by law to be served on or given to either party to this Agreement by the other party shall be in writing and shall be deemed
duly served when personally delivered to the party at an address agreed upon by both parties. 

 

(b)               
Assignment. This Agreement and all the provisions hereof will be binding upon and inure
to the benefit of the parties hereto and their respective successors and permitted assigns. 

 

(c)               
Governing Law. The validity, interpretation, construction and performance of this Agreement
shall be governed by the laws of the State of Colorado, without giving effect to the principles of conflict of laws. All parties
to this Agreement shall hereby submit to the personal and subject matter jurisdiction and venue of the state or federal courts
located in Denver, Colorado and irrevocably waive any trial by jury. If either party commences an action arising out of this Agreement,
the prevailing party shall, in addition to any other damages and costs awarded, be entitled to reasonable legal fees incurred in
connection with the prosecution or defense of such action. 

 

(d)               
Severability. Whenever possible, each provision of this Agreement will be interpreted
in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited
by or invalid under applicable law, such provision will be ineffective only to the extent of such provision or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this Agreement. 

 

(e)               
Amendment; Waiver. In the event either party wishes to amend this Agreement, the Agreement
may only be amended or waived in a writing executed by the both parties. 

 

(f)                
Complete Agreement. This Agreement contains the complete agreement between the parties
hereto and supersedes any prior understandings, agreements or representations by or between the parties, written or oral, which
may have related to the subject matter hereof in any way.

 

    	  

    	 

    

 

(g)               
Further Assurances. The parties shall do and perform, or cause to be done and performed,
all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents,
as the other parties hereto may reasonably request in order to carry out the intent an accomplish the purposes of this Agreement,
if requested.

 

(h)               
Counterparts. This Agreement may be executed in two or more identical counterparts,
all of which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each
party and delivered to the other party. In the event that any signature is delivered by facsimile transmission or by an e-mail
which contains a portable document format (.pdf) file of an executed signature page, such signature page shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if
such signature page were an original thereof.

 

[ Remainder of Page Intentionally Left Blank;
Signature Page to Follow ]

 

 

 

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties hereby have executed this Settlement Agreement as of the date first written above.

 

 

	 	
        Ascent
        Solar Technologies, INC.

         

	 	 	
         

         

         

	 	By: 	  /s/ Victor Lee
	 	 	Name: Victor Lee
	 	 	Title: President & CEO
	 	 	 

 

 

 

	 	
        GLOBAL ICHIBAN LIMITED

        BY: ITUS ASSET MANAGEMENT PTE LTD

        ITS: Corporate Director

         
	 
	 	 	
         

         

         
	 
	 	By: 	  /s/ B.T. Chua	 
	 	 	Name: B.T. Chua	 
	 	 	Title: Authorized SignatoryDocument

Exhibit 4.50(a)

3(a)(iii)(B)/5(i)/8(ii)

ENTERGY LOUISIANA, LLC
OFFICER’S CERTIFICATE
21-B-15

Establishing the Form and Certain Terms of the 
Collateral Trust Mortgage Bonds, 2.35% Series due June 15, 2032

The undersigned, Kevin J. Marino, an Authorized Officer of Entergy Louisiana, LLC, a Texas limited liability company (the “Company”) (all capitalized terms used herein which are not defined herein or in Exhibit A hereto but are defined in the Indenture referred to below, shall have the meanings specified in such Indenture), pursuant to the Fifteenth Supplemental Indenture dated as of March 1, 2021 (the “Fifteenth Supplemental Indenture”) and Sections 101, 104, 201, 301, 303(a), 303(e), and 1602(b)(i)(B) of such Indenture, does hereby certify to THE BANK OF NEW YORK MELLON, as trustee (the “Trustee”) under the Mortgage and Deed of Trust of the Company dated as of November 1, 2015 (as supplemented, the “Indenture”) as of March 4, 2021, that:
1.The Securities of the fifteenth series to be issued under the Indenture (the “Bonds”) shall be issued in a series designated “Collateral Trust Mortgage Bonds, 2.35% Series due June 15, 2032”; the Bonds shall be in substantially the form set forth in Exhibit A hereto; the Bonds shall initially be issued in the aggregate principal amount of $500,000,000; however, the terms of the Bonds do not limit the aggregate principal amount of Bonds which may be authenticated and delivered under the Indenture; and the Bonds issued on the original issue date and any additional Bonds issued thereafter shall be considered one and the same series of Securities under the Indenture; additional Bonds, without limitation as to amount, having substantially the same terms as the then Outstanding Bonds (except for the issue date, price to public and, if applicable, the initial Interest Payment Date) may be issued by the Company without notice to or the consent of the existing Holders of the Bonds;
2.The Bonds shall mature and the principal shall be due and payable on June 15, 2032, and the Company shall not have any right to extend the Stated Maturity of the Bonds as contemplated by Section 301(d) of the Indenture;
3.The Bonds shall bear interest as provided in the form thereof set forth in Exhibit A hereto; the Interest Payment Dates for the Bonds shall be June 15 and December 15 of each year, commencing December 15, 2021;
4.Each installment of interest on the Bonds shall be payable as provided in the form thereof set forth in Exhibit A hereto; the Company shall not have any right to extend any interest payment periods for the Bonds as contemplated by Section 301(e) of the Indenture;
5.The principal of, premium, if any, and each installment of interest on the Bonds shall be payable, and registration of transfers and exchanges in respect of the Bonds may be effected, at the office or agency of the Company in The City of New York and as otherwise provided in the form of Bond set forth in Exhibit A hereto; and notices and demands to or upon the Company in respect of the Bonds may be served at the office or agency of the Company in The City of New York; the Corporate Trust Office of the Trustee will initially be the agency of the Company for such payment, registration of transfers and exchanges and service of notices and demands, and the Company hereby appoints the Trustee as its agent for all such purposes; and the Trustee will initially be the Security Registrar and the Paying Agent for the Bonds; provided, however, that the Company reserves the right to change, by one or more Officer’s Certificates, any such office or agency and such agent;

6.The Regular Record Dates for the interest payable on any given Interest Payment Date with respect to the Bonds shall be the close of business on the Business Day immediately preceding such Interest Payment Date;
7.The Bonds are subject to redemption as provided in the form thereof set forth in Exhibit A hereto;
8.No service charge shall be made for the registration of transfer or exchange of the Bonds; provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with the exchange or transfer;
9.The Bonds shall be issued initially in global form registered in the name of Cede & Co. (as nominee for The Depository Trust Company (“DTC”)); provided, that the Company reserves the right to provide for another depository, registered as a clearing agency under the Exchange Act, to act as depository for the global Bonds (DTC and any such successor depository, the “Depository”); beneficial interests in Bonds issued in global form may not be exchanged in whole or in part for individual certificated Bonds in definitive form, and no transfer of a global Bond in whole or in part may be registered in the name of any Person other than the Depository or its nominee except that (i) if the Depository (A) has notified the Company that it is unwilling or unable to continue as depository for the global Bonds or (B) has ceased to be a clearing agency registered under the Exchange Act and, in either case, a successor depository for such global Bonds has not been appointed by the Company within ninety (90) days after the Company receives such notice or becomes aware of such condition, as the case may be, (ii) the Company executes and delivers to the Trustee an Officer’s Certificate providing that the global Bonds shall be so exchangeable or (iii) there shall have occurred and be continuing an Event of Default with respect to the Bonds, in each case, the Company will execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Bonds, will authenticate and deliver Bonds in definitive certificated form in an aggregate principal amount equal to the principal amount of the global Bonds representing such Bonds in exchange for such global Bonds, such definitive Bonds to be registered in the names provided by the Depository; each global Bond (i) shall represent and shall be denominated in an amount equal to the aggregate principal amount of the outstanding Bonds to be represented by such global Bond, (ii) shall be registered in the name of the Depository or its nominee, (iii) shall be delivered by the Trustee to the Depository, its nominee, any custodian for the Depository or otherwise pursuant to the Depository’s instruction and (iv) shall bear a legend restricting the transfer of such global Bond to any person other than the Depository or its nominee; none of the Company, the Trustee, any Paying Agent or any Authenticating Agent will have any responsibility or liability for any aspect of the records relating to, or payments made on account of, beneficial ownership interests in a global Bond or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests; the Bonds in global form will contain restrictions on transfer, substantially as described in the form set forth in Exhibit A hereto;
10.None of the Trustee, the Security Registrar or the Company shall have any liability for any acts or omissions of the Depository, for any transfers of beneficial interests in the Bonds, for any Depository records of beneficial interests, for any transactions between the Depository and beneficial owners or in respect of any transfers effected by the Depository or by any participant members of the Depository or any beneficial owner of any interest in any Bonds held through any such participant member of the Depository;
11.If the Company shall make any deposit of money and/or Eligible Obligations with respect to any Bonds, or any portion of the principal amount thereof, as contemplated by Section 801 of the Indenture, the Company shall not deliver an Officer’s Certificate described in clause (z) in the 
    -2-

first paragraph of said Section 801 unless the Company shall also deliver to the Trustee, together with such Officer’s Certificate, either:
(A)    an instrument wherein the Company, notwithstanding the satisfaction and discharge of its indebtedness in respect of such Bonds, shall assume the obligation (which shall be absolute and unconditional) to irrevocably deposit with the Trustee or Paying Agent such additional sums of money, if any, or additional Eligible Obligations (meeting the requirements of Section 801), if any, or any combination thereof, at such time or times, as shall be necessary, together with the money and/or Eligible Obligations theretofore so deposited, to pay when due the principal of and premium, if any, and interest due and to become due on such Bonds or portions thereof, all in accordance with and subject to the provisions of said Section 801; provided, however, that such instrument may state that the obligation of the Company to make additional deposits as aforesaid shall be subject to the delivery to the Company by the Trustee of a notice asserting the deficiency accompanied by an opinion of an independent public accountant of nationally recognized standing, selected by the Trustee, showing the calculation thereof; or
(B)    an Opinion of Counsel to the effect that, as a result of a change in law occurring after the date of this certificate, the Holders of such Bonds, or portions of the principal amount thereof, will not recognize income, gain or loss for United States federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect thereof and will be subject to United States federal income tax on the same amounts, at the same times and in the same manner as if such satisfaction and discharge had not been effected;
12.The Eligible Obligations with respect to the Bonds shall be Government Obligations;
13.The Bonds shall have such other terms and provisions as are provided in the form set forth in Exhibit A hereto;
14.(A) No Event of Default under the Indenture has occurred or is occurring, and (B) no matured event of default has occurred and is continuing under the applicable Class A Mortgage pursuant to which the Class A Bonds delivered with the accompanying Company Order have been issued;
15.The undersigned has read all of the covenants and conditions contained in the Indenture, and the definitions in the Indenture relating thereto, relating to the issuance, authentication and delivery of the Bonds and the execution of the Fifteenth Supplemental Indenture and in respect of compliance with which this certificate is made;
16.The statements contained in this certificate are based upon the familiarity of the undersigned with the Indenture, the documents accompanying this certificate, and discussions by the undersigned with officers and employees of the Company familiar with the matters set forth herein;
17.In the opinion of the undersigned, the undersigned has made such examination or investigation as is necessary to enable the undersigned to express an informed opinion as to whether or not such covenants and conditions have been complied with; and
18.In the opinion of the undersigned, such conditions and covenants, and all conditions precedent provided for in the Indenture (including any covenants compliance with which constitutes a condition precedent) relating to the authentication and delivery of the Bonds and the execution of the Fifteenth Supplemental Indenture requested in the accompanying Company Order have been complied with.
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19.The execution of the Fifteenth Supplemental Indenture is authorized or permitted by the Indenture.
 [Remainder of page intentionally left blank]
    -4-

        

IN WITNESS WHEREOF, I have executed this Officer’s Certificate as of the date set forth above.
By: /s/ Kevin J. Marino        
Name: Kevin J. Marino    
    Title:   Assistant Treasurer    

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

No.  ___    CUSIP No. 29364W BH0
MATURITY DATE: June 15, 2032    PRINCIPAL AMOUNT: $____________
ENTERGY LOUISIANA, LLC
COLLATERAL TRUST MORTGAGE BONDS, 2.35% SERIES DUE JUNE 15, 2032
ENTERGY LOUISIANA, LLC, a limited liability company duly organized and existing under the laws of the State of Texas (herein referred to as the “Company,” which term includes any successor Person under the Indenture referred to below), for value received, hereby promises to pay to 
or registered assigns, the principal amount specified above on the Maturity Date set forth above and to pay interest on the unpaid principal hereof and on any overdue interest from and including March 10, 2021 or from and including the most recent interest payment date to which interest has been paid or duly provided for semiannually on June 15 and December 15 of each year, commencing December 15, 2021, and on the Maturity Date (each, an “Interest Payment Date”), at the rate of 2.35% per annum to but excluding the date on which the principal hereof is paid or made available for payment. In the event that any Interest Payment Date is not a Business Day (as defined below), then payment of interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of such delay) with the same force and effect as if made on the Interest Payment Date. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Business Day immediately preceding such Interest Payment Date (each a “Regular Record Date”), except that interest payable at Maturity will be payable to the Person to whom principal shall be paid.  Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture referred to herein.
Payment of the principal of and premium, if any, and interest at Maturity on this Security shall be made upon presentation of this Security at the office or agency of the Company maintained for that purpose in The City of New York, in the State of New York, in such coin or currency of the United States 
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of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that, at the option of the Company, interest on this Security (other than interest payable at Maturity) may be paid by check mailed to the address of the person entitled thereto, as such address shall appear on the Security Register, and provided, further, that if such person is a securities depositary, such payment may be made by such other means in lieu of check as shall be agreed upon by the Company, the Trustee and such person.
All terms used in this Security not otherwise defined herein which are defined in the Indenture shall have the meanings assigned to them in the Indenture and in the Officer’s Certificate establishing the terms of the Securities of this series (the “Series Officer’s Certificate”). 
This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under a Mortgage and Deed of Trust dated as of November 1, 2015 (herein, together with any amendments or supplements thereto, including the Fifteenth Supplemental Indenture dated as of March 1, 2021 with respect to the Securities of this series, called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon, as trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture, for a statement of the property mortgaged, pledged and held in trust, the nature and extent of the security, the conditions upon which the Lien of the Indenture may be released and to the Indenture and Series Officer’s Certificate creating the series designated on the face hereof, for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered.  The acceptance of this Security shall be deemed to constitute the consent and agreement by the Holder thereof to all of the terms and provisions of the Indenture.  This Security is one of the series designated on the face hereof.
Securities of this series shall be redeemable at the option of the Company in whole or in part, upon notice mailed at least 10 days but not more than 60 days prior to the date fixed for redemption (the “Redemption Date”) (i) at any time prior to March 15, 2032 (the “Par Call Date”), at a price (the “Redemption Price”) equal to the greater of (a) 100% of the principal amount of Securities of this series being redeemed and (b) as determined by the Independent Investment Banker, the sum of (x) the present value of the payment on the Par Call Date of the principal amount of the Securities of this series being redeemed plus (y) the sum of the present values of the remaining scheduled payments of interest on the Securities of this series being redeemed to the Par Call Date (excluding the portion of any such interest accrued to the Redemption Date), discounted (for purposes of determining such present values) to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 15 basis points, and (ii) at any time on or after the Par Call Date, at the Redemption Price equal to 100% of the principal amount of Securities of this series being redeemed, plus, in each case, any accrued and unpaid interest thereon to, but not including, the Redemption Date.

“Adjusted Treasury Rate” means, with respect to any redemption date:

(1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the remaining term of the Securities of this series being redeemed (assuming, for this purpose, that such Securities of this series mature on the Par Call Date), yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or
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(2) if such release (or any successor release) is not published during the week preceding the calculation date for the Adjusted Treasury Rate or does not contain such yields, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.

The Adjusted Treasury Rate shall be calculated on the third Business Day preceding the redemption date.

“Business Day” means any day other than a Saturday or a Sunday or a day on which banking institutions in The City of New York are authorized or required by law or executive order to remain closed or a day on which the corporate trust office of the Trustee is closed for business.

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having a maturity comparable to the remaining term of the Securities of this series being redeemed (assuming, for this purpose, that such Securities of this series mature on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Securities of this series being redeemed (assuming, for this purpose, that such Securities of this series mature on the Par Call Date).

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of five Reference Treasury Dealer Quotations for such redemption date after excluding the highest and lowest such Reference Treasury Dealer Quotations or (2) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations.

“Independent Investment Banker” means one of the Reference Treasury Dealers that the Company appoints to act as the Independent Investment Banker from time to time or, if any of such firms is unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company.

“Reference Treasury Dealer” means any of (1) BNP Paribas Securities Corp., Mizuho Securities USA LLC, Scotia Capital (USA) Inc. and a Primary Treasury Dealer (as defined below) selected by each of BNY Mellon Capital Markets, LLC, KeyBanc Capital Markets Inc., MUFG Securities Americas Inc. and SMBC Nikko Securities America, Inc., or, in each case, an affiliate thereof, and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (2) any other Primary Treasury Dealer selected by the Independent Investment Banker after consultation with the Company.

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m. on the third Business Day preceding such redemption date.

Notice of redemption (other than at the option of the Holder) shall be given by mail to Holders of Securities all as provided in the Indenture.  As provided in the Indenture, notice of redemption at the election of the Company as aforesaid may state that such redemption shall be conditional upon the receipt by the applicable Paying Agent or Agents of money sufficient to pay the principal of and premium, if any, 
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and interest, if any, on this Security on or prior to the date fixed for such redemption; a notice of redemption so conditioned shall be of no force or effect if such money is not so received and, in such event, the Company shall not be required to redeem this Security.

In the event of redemption of this Security in part only, a new Security or Securities of this series of like tenor representing the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof.

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security upon compliance with certain conditions set forth in the Indenture and the Series Officer’s Certificate.

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of this series at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities of all series at the time Outstanding to be directly affected thereby.  The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.  Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or the Securities or for the appointment of a receiver or trustee or for any other remedy under or with respect to the Indenture or the Securities, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of a majority in aggregate principal amount of the Securities of all series at the time Outstanding in respect of which an Event of Default shall have occurred and be continuing shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as the Trustee and offered the Trustee indemnity satisfactory to it, the Trustee shall not have received from the Holders of a majority in aggregate principal amount of Securities of all series at the time Outstanding in respect of which an Event of Default shall have occurred and be continuing a direction inconsistent with such request, and the Trustee shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity.  The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein.

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

The Securities of this series are issuable only in registered form without coupons in denominations of $1,000 and integral multiples of $1,000 in excess thereof.  As provided in the Indenture and subject to certain limitations therein and herein set forth, Securities of this series are exchangeable for 
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Securities of this series, of authorized denominations and of like tenor and aggregate principal amount, as requested by the Holder surrendering the same.

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

The Company shall not be required to execute, and the Security Registrar shall not be required to register, the transfer of or exchange of (a) Securities of this series during a period of 15 days immediately preceding the date notice is to be given identifying the serial numbers of the Securities of this series called for redemption, (b) any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part, or (c) any Security during the 15 days before an Interest Payment Date.

The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the absolute owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

This Security shall be governed by and construed in accordance with the laws of the State of New York (including without limitation Section 5-1401 of the New York General Obligations Law or any successor to such statute), except to the extent that the Trust Indenture Act shall be applicable.

As provided in the Indenture, no recourse shall be had for the payment of the principal of or premium, if any, or interest on any Securities, or any part thereof, or for any claim based thereon or otherwise in respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or agreement under the Indenture, against, and no personal liability whatsoever shall attach to, or be incurred by, any incorporator, shareholder, member, limited partner, officer, manager or director, as such, past, present or future of the Company or of any predecessor or successor of the Company (either directly or through the Company or a predecessor or successor of the Company), whether by virtue of any constitutional provision, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Securities are solely corporate obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of the Securities.

Unless the certificate of authentication hereon has been executed by the Trustee referred to herein by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

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

                        
                        ENTERGY LOUISIANA, LLC
By:_______________________________________
                             Name:  
     Title:    

[FORM OF CERTIFICATE OF AUTHENTICATION]
CERTIFICATE OF AUTHENTICATION
This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture.
Dated: 

                        THE BANK OF NEW YORK MELLON, as Trustee
By:_______________________________________
Authorized Signatory

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