Document:

Exhibit

Exhibit 10(b)4
THIRD AMENDMENT TO 
AVAILABILITY AGREEMENT 
Between
MIDDLE SOUTH ENERGY.  INC. 
And 
ARKANSAS POWER & LIGHT COMPANY,
LOUISIANA POWER & LIGHT COMPANY,
MISSISSIPPI POWER & LIGHT COMPANY, and 
NEW ORLEANS PUBLIC SERVICE INC.
This Third Amendment, dated as of the 28th day of June, 1984, between Middle South Energy, Inc. (MSE), and Arkansas Power & Light Company (AP&L), Louisiana Power & Light Company (LP&L), Mississippi Power & Light Company (MP&L) and New Orleans Public Service Inc. (NOPSI ), to the Availability Agreement, dated as of the 21st day of June, 1974, between MSE and AP&L, Arkansas-Missouri Power Company (Ark-Mo), LP&L, MP&L and NOPSI, as amended by the First Amendment thereto dated as of June 30, 1977 and the Second Amendment thereto dated as of June 15, 1981 (Availability Agreement), Witnesseth That:
Whereas, pursuant to the provisions of Section 5 of the Availability Agreement, it has been agreed that both Unit No. 1 and Unit No. 2 of the Project shall be deemed to be in operation no later than December 31, 1984 for the purposes of commencing the accrual of depreciation and amortization with respect to such Units and that, if Unit No. l of the Project has been placed in operation on or prior to December 31, 1984, Unit No. 2 of the Project shall be deemed to be in operation no later than December 31, 1988 for purposes of commencing the accrual of depreciation and amortization with respect to such Unit; and
Whereas, commercial operation of Unit No. 1 is currently scheduled to commence in the first quarter of 1985; and
Whereas, MSE and the Parties deem it desirable that there be a reasonable interval between the presently expected commercial operation date of Unit No. 1 and the date on which Unit No. 1 shall be deemed to be in operation under the Availability Agreement for purposes of commencing the accrual of depreciation and amortization with respect to Unit No. 1 and Unit No. 2 of the Project; and
Whereas, effective January 1, 1981, the electric properties of Ark-Mo were consolidated with those of AP&L and Ark-Mo was dissolved, and AP&L assumed all of the obligations of Ark-Mo under the Availability Agreement; and
Whereas, MSE, AP&L, LP&L, MP&L and NOPSI have entered into (i) a First, Fourth, Fifth and Eighth Assignment of Availability Agreement, Consent and Agreement, dated as of June 30, 1977, March 20, 1980, June 15, 1981 and June 30, 1983, respectively, with Manufacturers Hanover Trust Company, as agent for certain banks, (ii) a Second and Third Assignment of Availability Agreement, Consent and 

Agreement, dated as of June 30, 1977 and January 1, 1980, respectively, with United States Trust Company of New York and Malcolm J. Hood, as trustees, (iii) a Sixth and Seventh Assignment of Availability Agreement, Consent and Agreement, dated as of February 5, 1982 and February 18, 1983, respectively, with Credit Suisse First Boston Limited, as agent for certain banks, and (iv) a Ninth Assignment of Availability Agreement, Consent and Agreement, dated as of December 1, 1983, with Citibank, N.A. and Deposit Guaranty National Bank, as Trustee; and
Now, Therefore, in consideration of the terms and conditions hereinafter set forth, the parties hereto agree with each other as follows:
1.    For the purposes of this Third Amendment to Availability Agreement, any term used herein which has a defined meaning in the Availability Agreement shall have the same meaning herein.
2.    Section 5 of the Availability Agreement is hereby deemed amended so that the two references in Section 5 to "December 31, 1984" shall he changed to read "December 31, 1985".
3.    All other provisions of the Availability Agreement shall be deemed to continue in full force and effect.
In Witness Whereof, the parties hereto have caused this Third Amendment to Availability Agreement to be duly executed by their respective officers thereunto duly authorized as of the day and year first above written.
	
		
	Arkansas Power & Light Company
	Mississippi Power & Light Company

	 
	 

	By:/s/ Jerry L. Maulden
Jerry L. Maulden,
President
	By:/s/ D.C. Lutken                              
D.C. Lutken, 
Chairman of the Board and
Chief Executive Officer

	 
	 

	Louisiana Power & Light Company
	New Orleans Public Service Inc.

	 
	 

	By:/s/ James M. Cain                          
James M. Cain,
President
	By:/s/ James M. Cain                          
James M. Cain, 
President

	 
	Middle South Energy, Inc.

	 
	 

	 
	By:/s/ F.W. Lewis                                
F.W. Lewis,
PresidentExhibit

Exhibit 10(b)5
FOURTH AMENDMENT TO 
AVAILABILITY AGREEMENT 
Between 
SYSTEM ENERGY RESOURCES, INC. 
And 
ARKANSAS POWER & LIGHT COMPANY, 
LOUISIANA POWER & LIGHT COMPANY, 
MISSISSIPPI POWER & LIGHT COMPANY, and 
NEW ORLEANS PUBLIC SERVICE INC.
This Fourth AMENDMENT, dated as of the 1st day of June, 1989, between System Energy Resources, Inc. (System Energy), and Arkansas Power & Light Company (AP&L), Louisiana Power & Light Company (LP&L), Mississippi Power & Light Company (MP&L) and New Orleans Public Service Inc. (NOPSI), to the Availability Agreement, dated as of the 21st day of June, 1974, between Middle South Energy, Inc. and AP&L, Arkansas-Missouri Power Company, LP&L, MP&L and NOPSI, as amended by the First Amendment thereto dated as of June 30, 1977, the Second Amendment thereto dated as of June 15, 1981 and the Third Amendment thereto dated as of June 28, 1984 (Availability Agreement), WITNESSETH THAT:
WHEREAS, a special group of officials have conducted an evaluation and review of Unit No. 2 of the Project; and
WHEREAS, System Energy and the Parties deem it desirable that, for purposes of the Availability Agreement, any of System Energy’s investment associated with Unit No. 2 which it will not be permitted to charge its customers in wholesale rates, and the obligations of the Parties to pay such investment to System Energy, be amortizable at the rate of 3.65% of such investment over a period of 27.4 years; and
WHEREAS, effective December 20, 1986, System Energy’s name was changed from Middle South Energy, Inc. to System Energy Resources, Inc.; and
WHEREAS, System Energy, AP&L, LP&L, MP&L and NOPSI have entered into (i) a Sixteenth Assignment of the Availability Agreement, Consent and Agreement, dated as of May 1, 1986, with United States Trust Company of New York and Malcolm J.  Hood, as Trustees, (ii) a Fourteenth and Fifteenth Assignment of the Availability Agreement, Consent and Agreement, dated as of June 15, 1985 and May 1, 1986, respectively, with Deposit Guaranty National Bank, United States Trust Company of New York and Malcolm J.  Hood, as Trustees, (iii) a Seventeenth, Eighteenth, Nineteenth, Twentieth and Twenty-first Assignment of the Availability Agreement, Consent and Agreement, dated as of September 1, 1986, September 1, 1986, September 1, 1986, November 15, 1987 and December 1, 1987, respectively, with United States Trust Company of New York and Gerard F. Ganey, as Trustees, and (iv) a Twenty-second Assignment of the Availability Agreement, Consent and Agreement, dated as of December 1, 1988, with 

Chemical Bank as Agent, pursuant to which the following terms of this Fourth Amendment have been consented to; and
WHEREAS, it is now appropriate and necessary to revise Section 4 of the Availability Agreement accordingly.
NOW, THEREFORE, in consideration of the terms and conditions hereinafter set forth, the parties hereto agree with each other as follows:
1.    For the purposes of this Fourth Amendment to Availability Agreement, any term used herein which has a defined meaning in the Availability Agreement shall have the same meaning herein.
2.    Section 4 of the Availability Agreement is hereby amended to add the following to the end of such Section:
Notwithstanding anything to the contrary in this Section 4, in the event that any portion of the Project is Abandoned prior to its Completion, the portion of System Energy’s investment which it is not permitted to charge to its customers in wholesale rates (“disallowed investment”) and the obligations of the Parties to pay such disallowed investment to System Energy, shall be amortizable from the date on which System Energy is obligated by applicable generally accepted accounting principles to eliminate the disallowed investment from the asset side of its balance sheet no less rapidly than at the rate of 3.65% of the disallowed investment per annum for a period of 27.4 years.  Any portion of the Project that is Abandoned shall no longer be subject to this Availability Agreement except that Section 4 and 5 hereof shall remain applicable to System Energy’s investment (including the disallowed investment) in the Project.
“Abandoned” shall mean the good faith decision by System Energy to abandon any material portion of the Project as evidenced by a resolution of the Board of Directors of System Energy followed by a cessation of all operations (other than preservative maintenance) of such material portion for a period of ninety (90) days certified to in a certificate signed by the President or a Vice-President and the Treasurer or an Assistant Treasurer of System Energy (Officers’ Certificate).
“Completion”, when applied to Unit No. 2, shall mean the first date on which all of the following have occurred: the necessary permits and operating licenses have been issued; the critical tests for the major components have been completed; Unit No. 2 has been placed in the control of System Energy by the principal contractor; Unit No. 2 has been synchronized into the power grid of the Parties for its function in the business of generating electric energy for the production of income; Unit No. 2 is available for commercial operation; and an Officers’ Certificate to such effect shall have been delivered to all necessary parties.
3.    All other provisions of the Availability Agreement shall be deemed to continue in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Fourth Amendment to Availability Agreement to be duly executed by their respective officers thereunto duly authorized as of the day and year first above written.
SYSTEM ENERGY RESOURCES, INC.
		
	By:
	/s/ William Cavanaugh, III

William Cavanaugh, III
President

ARKANSAS POWER & LIGHT COMPANY
		
	By:
	/s/ John J. Harton

John J. Harton
Vice President - Financial
Services, Treasurer and
Assistant Secretary

MISSISSIPPI POWER & LIGHT COMPANY
		
	By:
	/s/ G. A. Goff

G.  A.  Goff
Senior Vice President,
Chief Financial Officer and
Secretary

LOUISIANA POWER & LIGHT COMPANY
		
	By:
	/s/ M. H. McLetchie 

M. H. McLetchie
Senior Vice President - 
Accounting & Finance, and
Treasurer

NEW ORLEANS PUBLIC SERVICE INC.
		
	By:
	/s/ M. H. McLetchie 

M. H. McLetchie
Senior Vice President - 
Accounting & Finance, and
Treasurer

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