Document:

Exhibit 10.1

 

SHARE PURCHASE/ EXCHANGE AGREEMENT

 

This Share Purchase/ Exchange
Agreement (the “Agreement”) is made and entered into as of November 18, 2021, by and among Center Florence Holding
LLC (the “Parent”), a Delaware limited liability company, Center Florence, Inc. (the “Company”),
a Delaware corporation and wholly-owned subsidiary of Parent, and Wave Sync Corp. (“Wave Sync”), a Delaware corporation.
The Parent, the Company and Wave Sync are sometimes hereinafter collectively referred to as the “Parties” and each
as a “Party.”

 

RECITALS

 

WHEREAS, Wave Sync seeks to acquire
one hundred percent (100%) of the issued and outstanding shares of the Company;

 

WHEREAS the Company is a wholly-owned
subsidiary of the Parent, and the Parent currently owns one hundred percent (100%) of the shares of the Company’s common stock (the
“Company Shares”), issued and outstanding; and

 

WHEREAS, the Parent has agreed
to sell or transfer to Wave Sync one hundred percent (100%) of the Company Shares in exchange for 4,600,000 shares of Wave Sync’s
common stock, par value $0.001 per share (the “Wave Sync Shares”) at $4.00 per share for the total valuation of $18,400,000
of the Company as agreed by the Parent, Company and Wave Sync.

 

AGREEMENT

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual promises, representations, warranties, covenants and agreements herein contained, the Parties hereto,
intending to be legally bound, hereby agree as follows:

 

ARTICLE 1

THE TRANSACTIONS

 

1.1. Share
Purchase/ Exchange. At the Closing, Parent shall sell, transfer, convey, assign and deliver to Wave Sync all of the Company Shares
free and clear of all Liens in exchange for an aggregate of 4,600,000 shares of Wave Sync Shares (the “New Issuance”), which
is valued at $4.00 per share as agreed by all the Parties. As a result of such exchange (the “Stock Exchange”), the Company
shall become a wholly-owned subsidiary of Wave Sync and the Parent shall own 4,600,000 Wave Sync Shares, representing approximately 26.34%
of the then issued and outstanding shares of Wave Sync Shares on a fully diluted basis.

 

     

     

    

 

ARTICLE 2

REPRESENTATIONS AND WARRANTIES OF THE PARENT

 

Parent represents and warrants
to Wave Sync, as follows:

 

2.1. Organization
Standing and Corporate Power. Parent is duly organized, validly existing and in good standing under the Laws of the State of Delaware
and has the requisite corporate power and authority and all government licenses, authorizations, permits, consents and approvals required
to own, lease and operate its properties and carry on its business as now being conducted in various jurisdictions.

 

2.2. Authority.
Parent has all requisite authority and power to enter into and deliver this Agreement and any other ancillary documents to which Parent
is a party, and any other certificate, agreement, document or instrument to be executed and delivered by Parent in connection with the
transactions contemplated hereby and thereby and to perform its obligations hereunder and thereunder and to consummate the transactions
contemplated hereby and thereby. This Agreement has been, and each of the documents to which Parent is a party will be, duly and validly
authorized and approved, executed and delivered by Parent.

 

2.3. No
Conflicts. The execution and delivery of this Agreement by the Parent (i) will not require the consent of any Governmental Entity
under any Laws; (ii) will not violate any Law, regulations or ordinances applicable to the Parent; and (iii) will not violate or breach
any contractual obligations of Parent and/or Company based on any Contract to which the Parent and/or Company is a party and which prohibits
the Stock Exchange contemplated hereby.

 

2.4. No
Finder’s Fee. Neither Parent, Company nor their agent(s) or representative(s) has engaged any broker or finder or incurred any
liability for any brokerage fees, commissions or finders’ fees in connection with the Stock Exchange contemplated herein.

 

2.5. Ownership
of Shares. Parent owns, of record and beneficially, and has good, valid and indefeasible
title to and the right to transfer to Wave Sync pursuant to this Agreement, Company Shares held by Parent, free and clear of any and all
Liens. There are no options, rights, voting trusts, stockholder agreements or any other Contracts or understandings to which Parent is
a party or by which Parent, or such Company Shares held by Parent, are bound with respect to the issuance, sale, transfer, voting or registration
of such Company Shares held by Parent.  At the Closing Date, Wave Sync will acquire good, valid and marketable title to such Company
Shares held by Parent free and clear of any and all Liens.

 

2.6. Certain
Proceedings. There is no Action pending against, or to the Knowledge of Parent, threatened against or affecting, Parent by any Governmental
Authority or other Person with respect to Parent that challenges, or may have the effect of preventing, delaying, making illegal, or otherwise
interfering with, the Stock Exchange contemplated by this Agreement.

 

2.7. Purchase
Entirely for Own Account. The Wave Sync Shares to be acquired by the Parent will be acquired for its own account, and not with a view
to the resale or distribution of any part thereof, and Parent has no present intent of selling or otherwise distributing any part or all
of the Wave Sync Shares, except in compliance with applicable securities laws.

 

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2.8. Restricted
Securities. Parent understands that the Wave Sync Shares are characterized as “restricted securities” under the Securities
Act in as much as this Agreement contemplates that, if acquired by Parent pursuant hereto, the Wave Sync Shares would be acquired in a
transaction not involving a public offering. The issuance of the Wave Sync Shares hereunder is being effected in reliance upon an exemption
from registration afforded under Section 4(a)(2) of the Securities Act. Parent further acknowledges that if the Wave Sync Shares are issued
to such Parent in accordance with the provisions of this Agreement, such Wave Sync Shares may not be resold without registration under
the Securities Act or the existence of an exemption therefrom. Parent represents that it is familiar with Rule 144 promulgated under the
Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act.

 

2.9. Acknowledgement
of Non-Registration. Parent understands and agrees that the Wave Sync Shares to be issued pursuant to this Agreement have not
been registered under the Securities Act or the securities Laws of any state of the U.S.

 

2.10. Available
Information. Parent, and each of its members, has such knowledge and experience in financial and business matters that he is capable
of evaluating the merits and risks of an investment in Wave Sync and has had an opportunity to ask questions of and receive answers from
the management team of the Parent relative to the financial condition and affairs thereof.

 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company represents and warrants
to the other Parties that:

 

3.1. Organization, Standing
and Corporate Power. The Company is a corporation duly organized, validly existing and in good
standing under the Laws of the State of Delaware and has the requisite corporate power and authority and all government licenses, authorizations,
permits, consents and approvals required to own, lease and operate its properties and carry on its business as now being conducted in
various jurisdictions.

 

3.2. Authority.
The Company has all requisite authority and power (corporate and other), licenses, authorizations, consents and approvals to enter into
and deliver this Agreement and any of the other ancillary documents to which the Company is a party and any other certificate, agreement,
document or instrument to be executed and delivered by the Company in connection with the Transactions contemplated hereby and thereby
and to perform its obligations hereunder and thereunder and to consummate the Transactions contemplated hereby and thereby. The execution
and delivery of this Company and the other ancillary documents by the Company and the performance by the Company of its obligations hereunder
and thereunder and the consummation by the Company of the transactions contemplated hereby and thereby have been duly authorized by all
necessary action on the part of the Company. The Company does not need to give any notice to, make any filing with, or obtain any authorization,
consent or approval of any Person or Governmental Authority in order for the Parties to execute, deliver or perform this Agreement or
the transactions contemplated hereby.  This Agreement has been, and any ancillary documents to which the Company is a party will
be, duly and validly authorized and approved, executed and delivered by the Company.

 

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The execution and delivery of
this Agreement by the Company and the consummation of the Stock Exchange by this Agreement will not result in any Material violation of
the Company’s certificate of incorporation and bylaws or any applicable Law or Material Agreement, as defined below, to which the
Company is a party.

 

3.3. Capital Structure
of the Company. As of the date of this Agreement, all outstanding shares of common stock of the Company
are duly authorized, validly issued, fully paid and nonassessable and not subject to preemptive rights. As of the date hereof, Parent
owns one hundred and ten (110) shares of the Company Shares, constituting 100% of the Company Shares issued and outstanding. As soon as
practicable after the Closing, the Company shall update its share registration record to reflect Wave Sync as the sole owner of the Company
Shares purchased or exchanged pursuant to this Agreement.

 

3.4. Governmental
Authorization. No consent, approval, Order or authorization of, or registration, declaration or filing
with, or notice to, any Governmental Entity, is required in connection with the execution and delivery of this Agreement or the consummation
of the Stock Exchange contemplated hereby.

 

3.5. Absence
of Certain Changes or Events. As of the date of this Agreement, the Company has conducted its business
only in the ordinary course consistent with past practice, and there is not and has not been any:

 

 3.5.1 Material Adverse Change with respect to the Company;

 

3.5.2 condition,
event or occurrence which could reasonably be expected to prevent, hinder or Materially delay the ability of the Company to consummate
the Stock Exchange;

 

3.5.3 incurrence,
assumption or guarantee by the Company of any indebtedness for borrowed money other than those disclosed in subsection 3.7 or in the ordinary
course and in amounts and on terms consistent with past practices;

 

3.5.4 creation
or other incurrence by the Company of any Lien on any Asset other than those disclosed in subsection 3.7 or in the ordinary course consistent
with past practices;

 

3.5.5 labor dispute,
other than routine, individual grievances, or, to the knowledge of the Company, any activity or proceeding by a labor union or representative
thereof to organize any employees of the Company to conduct any lockouts, strikes, slowdowns, work stoppages or threats by or with respect
to such employees;

 

3.5.6 payment,
prepayment or discharge of liability other than in the ordinary course of business or any failure to pay any liability when due;

 

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3.5.7 Material
write-offs or write-downs of any Assets of the Company;

 

3.5.8 transactions
or commitments made, or any Contract or agreement entered into, by the Company relating to its Assets or business (including the acquisition
or disposition of any Assets) or any relinquishment by the Company or any Contract or other right, in either case, Material to the Company,
other than transactions and commitments in the ordinary course consistent with past practices and those contemplated in this Agreement;

 

3.5.9 damages,
destruction or losses having, or reasonably expected to have, a Material Adverse Change on the Company; or

 

3.5.10 other
conditions, events or occurrence which individually or collectively could reasonably be expected to have a Material Adverse Change to
the Company.

 

3.6. Certain Fees.
No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker, financial advisor or consultant,
finder, placement agent, investment banker, bank or other person with respect to the Transactions.

 

3.7. Tax Returns and
Tax Payments. The Company has timely filed with the appropriate taxing authorities all Tax
Returns required to be filed by it (taking into account all applicable extensions). All such Tax Returns are true, correct and complete
in all respects. All Taxes due and owing by the Company have been paid (whether or not shown on any Tax Return and whether or not any
Tax Return was required). No claim has ever been made in writing or otherwise addressed to the Company by a taxing authority in a jurisdiction
where the Company does not file Tax Returns that it is or may be subject to taxation by that jurisdiction. The unpaid Taxes of the Company
have not, as of the Company’s Balance Sheet Date, exceeded the reserve for Tax liability (excluding any reserve for deferred Taxes
established to reflect timing differences between book and Tax income) set forth on the face of the financial statements (rather than
in any notes thereto). As of the Closing Date, the unpaid Taxes of the Company will not exceed the reserve for Tax liability (excluding
any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the books and records
of the Company.

 

No Material claim for unpaid Taxes
has been made or become a Lien against the property of the Company or is being asserted against the Company, no audit of any Tax Return
of the Company is being conducted by a tax authority, and no extension of the statute of limitations on the assessment of any Taxes has
been granted by the Company and is currently in effect.

 

As used herein, “Taxes”
shall mean all taxes of any kind, including, without limitation, those on or measured by or referred to as income, gross receipts, sales,
use, ad valorem, franchise, profits, license, withholding, payroll, employment, excise, severance, stamp, occupation, premium, value
added, property or windfall profits taxes, customs, duties or similar fees, assessments or charges of any kind whatsoever, together with
any interest and any penalties, additions to tax or additional amounts imposed by any governmental authority, domestic or foreign. As
used herein, “Tax Return” shall mean any return, report or statement required to be filed with any governmental authority
with respect to Taxes.

 

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3.8. Material Agreements.
Schedule 3.8 lists the following Contracts and other agreements (“Material Agreements”) to which the Company
is a party: (i) any agreement (or group of related agreements) for the ownership or lease of real property; (ii) any agreement forming
a partnership, strategic alliances, collaboration, profit sharing or joint venture; (iii) any agreement (or group of related agreements)
under which it has created, incurred, assumed, or guaranteed any indebtedness for borrowed money in excess of $25,000, or under which
a security interest has been imposed on any of its Assets, tangible or intangible; (iv) any agreements relating to the acquisition (by
merger, purchase of units or assets or otherwise) by the Company of any operating business or Material Assets or the capital stock of
any other person; (v) any agreements for the sale of any of the Material Assets of the Company, other than in the ordinary course of
business; (vi) any outstanding agreements of guaranty, surety or indemnification, direct or indirect, by the Company; and (vii) any other
agreement under which the consequences of a default or termination could reasonably be expected to have a Material Adverse Change on
the Company.

 

The
Company has made available to Wave Sync either an original or a correct and complete copy of each
written Material Agreement. Except as set forth on Schedule 3.8, with respect to each Material Agreement to which the Company is
a party thereto: (i) the agreement is the legal, valid, binding, enforceable obligation of the Company, as the case may be, and is in
full force and effect in all Material respects, subject to bankruptcy and equitable remedies exceptions; (ii) (A) the Company is not in
Material breach or default thereof and (B) no event has occurred which, with notice or lapse of time, would constitute a Material breach
or default of, or permit termination, modification, or acceleration under, the Material Agreement; and (iii) the Company has not repudiated
any Material provision of any of the Material Agreements.

 

3.9. Properties.
The Company has good, clear and marketable title to all the tangible properties and tangible Assets
reflected in the latest consolidated financial statements (the “Consolidated Financial Statements”)
as being owned by the Company or acquired after the date thereof which are, individually or in the aggregate, Material to their business
(except properties sold or otherwise disposed of since the date thereof in the ordinary course of business). A list of Material Assets
is set forth in Schedule 3.9 attached hereto. The Company has provided the Consolidated Financial Statements to Wave Sync. 

 

3.10. Board Recommendation.
The board of directors of the Company (the “Company Board”) has determined that the terms of the Stock Exchange are
fair to and in the best interests of the shareholders of the Company. The Company Board shall deliver written resolutions to approve
and authorize the Stock Exchange contemplated herein on or before the Closing Date.

 

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3.11. Undisclosed Liabilities.
The Company has no liabilities or monetary obligations of any nature (whether fixed or unfixed, secured or unsecured, known or unknown
and whether absolute, accrued, contingent, or otherwise) except for such liabilities or obligations reflected or reserved against in
the Consolidated Financial Statements.

 

3.12 Good Title. Parent
is the record and beneficial owner, and has good and marketable title to its Company Shares, with the right and authority to sell and
deliver such Company Shares to Wave Sync as provided herein. Upon registering Wave Sync as the new owner of the Company Shares in the
share register of the Company, Wave Sync shall receive good title to such Company Shares, free and clear of all Liens.

 

3.13 No Conflicts. The
execution and delivery of this Agreement by the Company (i) will not violate any Law, regulations or ordinances applicable to the Company;
and (ii) will not violate or breach any contractual obligations of the Company based on any Contract to which the Company is a party and
which prohibits the Transactions contemplated hereby.

 

3.14 Maintain
Assets. Consistent with past practice, Company shall maintain and keep its properties and assets in at least as good condition and
repair, reasonable wear and tear excepted, as the condition and repair the properties and assets are in as of the date hereof.

 

3.15 Conduct
of Business in Ordinary Course. Company will carry on its business in the ordinary course in substantially the same manner as heretofore
conducted and, to the extent consistent with such business, use all reasonable best efforts consistent with past practice and policies
to preserve intact its present business organization, keep available the services of its present officers, consultants and employees and
preserve its relationships with customers, suppliers and distributors and others having business dealings with it.

 

ARTICLE 4

REPRESENTATIONS AND WARRANTIES OF WAVE SYNC

 

Wave Sync hereby represents, warrants, covenants and agrees as follows:

 

4.1. Organization,
Standing and Corporate Power.    Wave Sync is a corporation duly organized, validly existing
and in good standing under the Laws of the jurisdiction of its incorporation or organization, has all requisite corporate authority and
power, license, authorizations, consents and approvals to carry on its business as presently conducted and to own, hold and operate its
properties and assets as now owned, held and operated by it, and is duly qualified to do business and in good standing in each jurisdiction
in which the failure to be so qualified would not reasonably be expected, individually or in the aggregate, to have a Material Adverse
Effect on Wave Sync.

 

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4.2 Authority.
The Wave Sync has all requisite authority and power, license, authorizations, consents and approvals to enter into and deliver this Agreement
and any of the other ancillary documents to which Wave Sync is a party and any other certificate, agreement, document or instrument to
be executed and delivered by Wave Sync in connection with the Transactions contemplated hereby and thereby and to perform its obligations
hereunder and thereunder and to consummate the Transactions contemplated hereby and thereby. The execution and delivery of this Agreement
and any other ancillary documents by Wave Sync and the performance Wave Sync of its obligations hereunder and thereunder and the consummation
by Wave Sync of the Transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of Wave
Sync. Except filing with the Securities and Exchange Commission (the “SEC”) as required by the applicable securities laws,
Wave Sync does not need to give any notice to, make any filing with, or obtain any authorization, consent or approval of any Person or
Governmental Authority in order for the Parties to execute, deliver or perform this Agreement or the transactions contemplated hereby.
 This Agreement has been, and ancillary documents to which Wave Sync is a party will be, duly and validly authorized and approved,
executed and delivered by Wave Sync.

 

4.3. Shares
of Common Stock and Capitalization. Wave Sync Shares, when issued pursuant to this Agreement, will be duly and validly authorized
and issued, fully paid and non-assessable. The authorized capital of Wave Sync consists of 100,000,000 shares of Common Stock, par value
$0.001 per share, of which 12,865,992 shares were issued and outstanding as of November 3, 2021. Wave Sync has not created or authorized
any class or series of preferred shares and has no obligation or understanding to do so.

 

4.4. Compliance. Wave
Sync has complied with, is not in violation of, and has not received any notices of violation of any federal, state, local or foreign
Law, judgment, decree, injunction or order, applicable to it, with respect to the conduct of its business or the ownership or operation
of its business.

 

4.5. Tax
Liabilities. Wave Sync has timely filed with the appropriate taxing authorities all Tax Returns required to be filed by it (taking
into account all applicable extensions). All such Tax Returns are true, correct and complete in all respects. All Taxes due and owing
by Wave Sync have been paid (whether or not shown on any Tax Return and whether or not any Tax Return was required). No claim has ever
been made in writing or otherwise addressed to Wave Sync by a taxing authority in a jurisdiction where Wave Sync does not file Tax Returns
that it is or may be subject to taxation by that jurisdiction. As of the Closing Date, the unpaid Taxes of Wave Sync will not exceed the
reserve for Tax liability (excluding any reserve for deferred Taxes established to reflect timing differences between book and Tax income)
set forth on the books and records of Wave Sync.

 

No Material claim for unpaid Taxes has been made or
become a Lien against the property of Wave Sync or is being asserted against Wave Sync, no audit of any Tax Return of Wave Sync is being
conducted by a tax authority, and no extension of the statute of limitations on the assessment of any Taxes has been granted by Wave Sync
and is currently in effect.

 

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4.6. Undisclosed Liabilities. Wave
Sync has no liabilities or monetary obligations of any nature (whether fixed or unfixed, secured or unsecured, known or unknown and whether
absolute, accrued, contingent, or otherwise) except for such liabilities or obligations reflected or reserved against in Wave Sync’s
Financial Statements.

 

4.7. Certain Fees.
 No brokerage or finder’s fees or commissions are or will be payable by Wave Sync to any broker, financial advisor or consultant,
finder, placement agent, investment banker, bank or other person with respect to the Stock Exchange.

 

4.8. Board Determination.
 The board of directors of Wave Sync (“Wave Sync Board”) deems that the terms of the Stock Exchange to be fair to and
in the best interests of Wave Sync and its shareholders and will deliver a written consent with respect to the contemplated Stock Exchange
to the Company before the Closing.

 

ARTICLE 5

CONDUCT PRIOR TO CLOSING

 

5.1 Conduct of Business.
At all times during the period commencing with the execution and delivery of this Agreement and continuing until the earlier of the termination
of this Agreement pursuant to the terms hereof or the Closing, the Parent shall cause the Company to, (a) carry on its business diligently
and in the usual, regular and Ordinary Course of Business, in substantially the same manner as heretofore conducted and in compliance
with all applicable Laws, (b) pay or perform its material obligations when due, (c) use its commercially reasonable efforts, consistent
with past practices and policies, to preserve intact its present business organization, keep available the services of its present officers
and employees and preserve its relationships with customers, suppliers, distributors, licensors, licensees and others with which it has
business dealings, and (d) keep its business and properties substantially intact, including its present operations, physical facilities
and working conditions. In furtherance of the foregoing and subject to applicable Law, the Parent and Company shall confer with Wave Sync,
as promptly as practicable, prior to taking any material actions or making any material management decisions with respect to the conduct
of the business of Wave Sync.

 

5.2 Maintain
Assets. Consistent with past practice, Parent shall cause Company to maintain and keep its properties and assets in at least as good
condition and repair, reasonable wear and tear excepted, as the condition and repair the properties and assets are in as of the date hereof.

 

ARTICLE 6 

LOCK-UP

 

6.1. Lock-up.   Effective
upon the Closing Date and till one year anniversary thereafter (the “Lock-up Period”), Parent agrees with Wave Sync not to,
without written consent of Wave Sync, directly or indirectly, (i) offer, sell, assign, transfer, pledge, contract to sell, or otherwise
dispose of, or announce the intention to otherwise dispose of, any shares of Wave Sync Shares owned as of the Closing Date (including,
without limitation, Wave Sync Shares which may be deemed to be beneficially owned by Parent in accordance with the rules and regulations
promulgated under the Securities Act of 1933 , as amended (the “Securities Act”) or securities convertible into or exercisable
or exchangeable for the Wave Sync Shares), (ii) enter into any swap, hedge or similar agreement or arrangement that transfers in whole
or in part, the economic risk of ownership of the beneficially owned shares of Wave Sync Shares or securities convertible into or exercisable
or exchangeable for Wave Sync Shares, or (iii) engage in any short selling of the Wave Sync Shares within the Lock-up Period.

 

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ARTICLE 7

CONDITIONS TO CLOSING

 

7.1 Closing Conditions.
The following events described herein must occur or be caused to occur before the Closing, not including the Closing Date, unless any
of the events is waived by all of the Parties collectively:

 

7.1.1 the representations
and warranties of Parent, the Company, and Wave Sync described respectively in Articles 2, 3, and 4 shall be true and correct in all Material
respects on and as of the Closing Date with the same force and effect as if made on such a date;

 

7.1.2 the Parties
shall have executed and delivered this Agreement and any ancillary documents necessary to effect the contemplated Stock Exchange;

 

7.1.3  Wave Sync
shall have completed a reverse stock split of its common stock at a ratio of 4-for-1 or higher;

 

7.1.4  Wave Sync
shall have completed its legal, accounting and business due diligence of Parent and the Company and the results thereof shall be satisfactory
to Wave Sync in its sole and absolute discretion;

 

7.1.5 Parent
and Company shall have completed their legal, accounting and business due diligence of Wave Sync and the results thereof shall be satisfactory
to the Parent and Company in their sole and absolute discretion;

 

7.1.6 no Material
Adverse Change in the business or financial condition of Wave Sync and the Company shall have occurred or be threatened to occur since
the date of this Agreement, and no action, suit or proceedings shall be threatened or pending before any court, governmental agency, authority
or regulatory body seeking to restrain, prohibit or obtain damages or other relief in connection with this Agreement or the consummation
of the transactions contemplated by this Agreement or that, if adversely decided, has or may have a Material Adverse Change;

 

7.1.7  Company
shall have delivered to Wave Sync a certificate executed by the authorized officer of the Company certifying: (a) resolutions duly adopted
by the Company’s Board authorizing this Agreement and the Stock Exchange and (b) the Company’s certificate of incorporation
and bylaws as in effect immediately prior to the Closing Date, including all amendments thereto;

 

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7.1.8  Parent
shall have delivered to Wave Sync a certificate executed by the authorized officer of the Parent certifying: (a) resolutions duly adopted
by the Parent’s managers authorizing this Agreement and the Stock Exchange and (b) the Particles articles of organization and operating
agreement as in effect immediately prior to the Closing Date, including all amendments thereto;

 

7.1.9  Wave Sync
shall have delivered to the Company and Parent a certificate executed by the authorized officer of Wave Sync certifying: (a) resolutions
duly adopted by the Board authorizing this Agreement and the Stock Exchange and (b) the certificate of incorporation and bylaws of Wave
Sync as in effect immediately prior to the Closing Date, including all amendments thereto;

 

7.1.10 The Parties
shall have received all necessary regulatory approvals of the Stock Exchange contemplated by this Agreement, all notice and waiting periods
required by law to pass shall have passed, no proceeding to enjoin, restrain, prohibit or invalidate such the Stock Exchange contemplated
by this Agreement shall have been instituted or threatened, and any conditions of any regulatory approval shall have been met.

 

ARTICLE 8

CLOSING DELIVERIES

 

8.1. Closing.
The closing (the “Closing”) of the transactions contemplated by this Agreement (the “Transactions”),
shall take place at the offices of Wave Sync’s counsel’s office with the primary business address at 1185 Avenue of Americas,
31st Floor, New York, NY 10036, commencing upon the satisfaction or waiver of all conditions and obligations of the Parties
to consummate the Transactions on December 1, 2021 or another date as the Parties shall mutually agree (the “Closing Date”).

 

8.2.  Deliveries
from Wave Sync. On the Closing Date, the Parent shall complete and deliver the following to the Company and Parent:

 

8.2.1 a board
resolution of Wave Sync’s Board to approve and ratify this Agreement and the New Issuance and all the ancillary documents and actions
to consummate the Transactions contemplated herein;

 

8.2.2 an officer’s
certificate from an authorized officer of Wave Sync representing that (a) all the representations and warranties set forth in Article
4 shall be true and correct in all Material respects on and as of the Closing Date with the same force and effect as if made on such a
date, (b) the resolutions by Wave Sync’s Board authorizing this Agreement and the Transactions have been duly adopted, and (c) Wave
Sync’s certificate of incorporation and bylaws as in effect immediately prior to the Closing Date, including all amendments thereto,
are complete and true; and

 

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8.2.3 a transmittal
letter (the “Transmittal letter”) to Wave Sync’s transfer agent Corporate Stock Transfer, Inc., (now known as
Equiniti) to issue Wave Sync Shares to Parent.

 

8.3.  Deliveries
from the Company.  On the Closing Date, the Company shall deliver or cause to be delivered to Wave Sync the following:

 

8.3.1 a board
resolution of the Company Board to approve and ratify this Agreement and all of the ancillary documents and actions to consummate the
Transactions contemplated herein;

 

8.3.2 written
consents of the Company’s shareholders necessary to approve this Transaction.

 

8.3.3 an officer’s
certificate from an authorized officer of the Company representing that (a) all the representations and warranties set forth in Article
3 shall be true and correct in all Material respects on and as of the Closing Date with the same force and effect as if made on such a
date, (b) the resolutions by the Company’s Board authorizing this Agreement and the Transactions have been duly adopted, and (c)
the Company’s articles of incorporation and bylaws as in effect immediately prior to the Closing Date, including all amendments
thereto, are complete and true; and

 

8.3.4 an updated
share registration record of the Company to reflect the ownership of Wave Sync which will be equal to 100% of the issued and outstanding
equity interest in the Company.

 

8.4. Deliveries from
Parent. On or prior to the Closing Date, Parent shall deliver or cause to be delivered to Wave Sync the following:

 

8.4.1 resolution
of its managers approving and ratifying this Agreement and all ancillary documents and actions to consummate the Transactions contemplated
herein.

 

8.4.2 written
consent of the percentage of its members necessary to approve this Transaction; and

 

8.4.3 an officer’s
certificate from an authorized officer of Parent representing that (a) all the representations and warranties set forth in Article 2 shall
be true and correct in all Material respects on and as of the Closing Date with the same force and effect as if made on such a date, (b)
the resolutions by Parent’s managers authorizing this Agreement and the Transactions have been duly adopted, and (c) the Company’s
articles of organization and operating agreement as in effect immediately prior to the Closing Date, including all amendments thereto,
are complete and true.

 

    12

     

    

 

ARTICLE 9

POST CLOSING DELIVERIES

 

9.1. Change of the Parent’s
Shareholder Record. As soon as practicable after the Closing, Wave Sync shall cause its transfer agent to update the shareholder
record based on the Transmittal Letter. 

 

ARTICLE 10

TERMINATION

 

10.1. Termination. This
Agreement may be terminated and rescinded at any time (the “Termination Date”) prior
to the Closing Date:

 

10.1.1 by mutual
written agreement of the Company and Wave Sync duly authorized by the Company Board and Wave Sync Board;

 

10.1.2 by either
the Company or Wave Sync, if any of the two Parties (which, in the case of Company, shall mean the Company or Parent) has breached any
Material representation or warranty set forth in this Agreement and such breach has resulted or can reasonably be expected to result in
a Material Adverse Change on such other Parties or would prevent or Materially delay the consummation of the Transactions; or

 

10.1.3 by any
Party, if a permanent injunction or other Order by any court which would make illegal or otherwise restrain or prohibit the consummation
of the Transactions shall have been issued and shall have become final and non-appealable;

 

10.2. Notice of Termination.
Any termination of this Agreement under Section 9.1 will be effective immediately upon the delivery of written notice of the terminating
Party to the other Parties hereto specifying with reasonable particularity the reason for such termination.

 

ARTICLE 11

MISCELLANEOUS 

 

11.1. Entire
Agreement.   This Agreement constitutes the entire agreement among the Parties relating to the subject matter hereof, superseding
any and all prior or contemporaneous oral and prior written agreements, understandings and letters of intent. This Agreement may not be
modified or amended nor may any right be waived except by a writing which expressly refers to this Agreement, states that it is a modification,
amendment or waiver and is signed by all Parties with respect to a modification or amendment or the Party granting the waiver with respect
to a waiver. Neither course of conduct or dealing nor trade custom or usage shall modify any provisions of this Agreement.

 

    13

     

    

 

11.2. Severability.
If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the Transactions contemplated hereby is not affected in any manner adverse to any Party. Upon such determination that any
term or other provision is invalid, illegal or incapable of being enforced, the Parties hereto shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the Parties as closely as possible, in a mutually acceptable manner, to the end
that Transactions are fulfilled to the extent possible.

 

11.3. Governing Law. This
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, regardless of the conflicts of law
principles.

 

11.4. Parties in Interest. This
Agreement shall be binding upon and inure to the benefits of the Parties hereto.

 

11.5. Counterparts. This
Agreement may be executed simultaneously in two or more counterparts, any one of which need not contain the signatures of more than one
Party, but all such counterparts taken together will constitute one and the same Agreement. This Agreement, to the extent delivered by
means of a facsimile machine or electronic mail (any such delivery, an “Electronic Delivery”), shall be treated in
all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it
were the original signed version thereof delivered in person. At the request of any Party hereto, each other Party hereto shall re-execute
original forms hereof and deliver them in person to all other Parties.

 

11.6. Liquidated Damages.
 The Parties hereto acknowledge and agree that one hundred thousand ($100,000) dollars shall constitute liquidated damages and
not penalties and are in addition to all other equitable rights of each Party, including the right to claim a default. The Parties further
acknowledge that (i) the amount of loss or damages likely to be incurred is incapable or is difficult to precisely estimate, (ii) the
amounts specified in such subsections bear a reasonable relationship to, and are not plainly or grossly disproportionate to, the probable
loss likely to be incurred in connection with any failure by the non-performance of a Party, (iii) one of the reasons for all of the Parties
reaching an agreement as to such amounts was the uncertainty and cost of litigation regarding the question of actual damages, and (iv)
the Parties are sophisticated business parties and have negotiated this Agreement at arm’s length.

 

ARTICLE 12

DEFINITIONS 

 

The following terms, as used in
the Agreement, have the following meanings:

 

“Agreement”
shall have the meaning set forth in the Preamble.

 

    14

     

    

 

“Assets” shall
mean all of the assets, properties, businesses and rights of such Person of every kind, nature, character and description, whether real,
personal or mixed, tangible or intangible, accrued or contingent, or otherwise relating to or utilized in such Person’s business,
directly or indirectly, in whole or in part, whether or not carried on the books and records of such Person, and whether or not owned
in the name of such Person or any Affiliate of such Person and wherever located.

 

“Closing”
shall have the meaning set forth in Section 8.1 of the Agreement.

 

“Closing Date”
shall have the meaning set forth in Section 8.1 of the Agreement.

 

“Common Stock”
shall mean the common stock of the Parent.

 

“Company”
shall have the meaning set forth in the Preamble.

 

“Company Board”
shall have the meaning set forth in Section 3.10 of the Agreement.

 

“Company Share(s)”
shall have the meaning set forth in the Recitals of the Agreement.

 

“Company’s Balance
Sheet Date” shall refer to December 31, 2020.

 

“Consolidated Financial
Statements” shall have the meaning set forth in Section 3.9 of the Agreement.

 

“Contract”
means any written or oral agreement, arrangement, commitment, contract, indenture, instrument, lease, obligation, plan, restriction,
understanding or undertaking of any kind or character, or other document to which any Person is a party or by which such Person is bound

 

“Dollars”
shall mean the lawful currency of the United States unless otherwise defined.

 

“Electronic Delivery”
shall have the meaning set forth in Section 10.5 of the Agreement.

 

“Governmental Entity”
shall mean any government or any agency, bureau, board, directorate, commission, court, department, official, political subdivision,
tribunal, or other instrumentality of any government, whether federal, local, domestic or foreign.

 

“Knowledge”
means the actual knowledge of the officers of a party, and knowledge that a reasonable person in such capacity should have after due
inquiry.

 

“Law” means
any code, law, ordinance, regulation, reporting or licensing requirement, rule, or statute applicable to a Person or its Assets, liabilities
or business, including those promulgated, interpreted or enforced by any Governmental Entity.

 

    15

     

    

 

“Lien” means,
with respect to any asset, any mortgage, lien, pledge, charge, security interests or encumbrance of any kind in respect to such asset,
other than any encumbrances created by the Parent.

 

“Material”
and “Materially” for purposes of this Agreement shall be determined in light of the facts and circumstances of the
matter in question; provided that any specific monetary amount stated in this Agreement shall determine Materiality in that instance.

 

“Material Agreements”
shall have the meaning set forth in Section 3.7 of the Agreement.

 

“Material Adverse Change”
means, with respect to any Person or Party, a material adverse change on the condition (financial or otherwise), business, Assets, liabilities
or the reported or reasonably anticipated future results or prospects of such Person taken as a whole; provided, however, that any adverse
change, event, development or effect arising from or relating to any of the following shall not be taken into account in determining
whether there has been a material adverse change: (a) general business or economic conditions, (b) national or international political
or social conditions, including the engagement by or Taiwan in hostilities, whether or not pursuant to the declaration of a national
emergency or war, or the occurrence of any military or terrorist attack upon Taiwan, or any of its territories, possessions, or diplomatic
or consular offices or upon any military installation, equipment or personnel of Taiwan, (c) financial, banking, or securities markets
(including any disruption thereof and any decline in the price of any security or any market index), (d) changes in generally accepted
accounting principles, (e) changes in laws, rules, regulations, orders, or other binding directives issued by any Governmental Entity
or (f) the taking of any action required by this Agreement and the other agreements contemplated hereby.

 

“Order” means
any administrative decision or award, decree, injunction, judgment, order, quasi-judicial decision or award, ruling, or writ of any Governmental
Entity.

 

“Parent” shall
have the meaning set forth in the Preamble.

 

“Party” or
“Parties” shall have the meaning set forth in the Preamble.

 

“Person” means
an individual, a corporation, a partnership, an association, a trust, a limited liability company or any other entity or organization,
including a government or political subdivision or any agency or instrumentality thereof.

 

“Tax” or “Taxes”
shall have the meaning set forth in Section 3.7 of the Agreement.

 

“Tax Return(s)”
shall have the meaning set forth in Section 3.7 of the Agreement.

 

“Termination Date”
shall have the meaning set forth in Section 10.1 of the Agreement.

 

“Transactions”
shall mean the transactions contemplated by the Parties under this Agreement and the related documents.

 

“Wave Sync Board” shall have the
meaning set forth in Section 4.8.

 

“Wave Sync Shares” shall have the
meaning set forth in the preamble.

 

[Remainder of this page intentionally left blank.]

 

    16

     

    

 

【Signature
Page for the Share Purchase/ Exchange Agreement】

 

IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be
executed as of the date first written above by their respective officers thereunto duly authorized.        

 

	 	WAVE SYNC CORP.  
	 	 	 
	 	By:	/s/ Jiang Hui
	 	Name:	Jiang Hui
	 	Title: 	CEO
	 	 	 
	 	PARENT: Center Florence Holding LLC
	 	 	 
	 	By:	/s/ John Sun
	 	Name:	John Sun
	 	Title:	Managing Member
	 	 	 
	 	COMPANY: Center Florence, Inc.
	 	 	 
	 	By:	/s/ John Sun
	 	Name:	John Sun
	 	Title:	 President

 

 

17Document

5

Exhibit 4(a)

Counterpart __ of 40
ENTERGY NEW ORLEANS, LLC
(as successor to Entergy New Orleans, Inc.) 
to
THE BANK OF NEW YORK MELLON

(formerly The Bank of New York, successor to Harris Trust 
Company of New York and Bank of Montreal Trust Company)

As Trustee under the Mortgage and Deed of Trust, 

dated as of May 1, 1987 of Entergy New Orleans, LLC 

TWENTY-FOURTH SUPPLEMENTAL INDENTURE

Providing among other things for

First Mortgage Bonds,

4.19% Series due November 19, 2031

(Twenty-seventh Series)

And

First Mortgage Bonds,

4.51% Series due November 19, 2036

(Twenty-eighth Series)

Dated as of November 1, 2021

TWENTY-FOURTH SUPPLEMENTAL INDENTURE, dated as of November 1, 2021, between ENTERGY NEW ORLEANS, LLC, a limited liability company of the State of Texas (formerly Entergy New Orleans Power, LLC and hereinafter sometimes called the “Company”), as successor to Entergy New Orleans, Inc., a corporation of the State of Louisiana converted to a corporation of the State of Texas on November 16, 2017 (hereinafter sometimes called the “Original Company”), whose post office address is 1600 Perdido Street, Building 505, New Orleans, Louisiana 70112, and THE BANK OF NEW YORK MELLON (formerly The Bank of New York, successor to Harris Trust Company of New York and Bank of Montreal Trust Company), a New York banking corporation, whose principal corporate trust office is located at 240 Greenwich Street, New York, New York 10286, as trustee under the Mortgage and Deed of Trust, dated as of May 1, 1987, executed and delivered by the Original Company (herein called the “Original Indenture”; the Original Indenture and any and all indentures and instruments supplemental thereto being herein called the “Indenture”);
WHEREAS, the Original Indenture has been duly recorded and filed as required in the State of Louisiana simultaneously with the recording and filing of the First Supplemental Indenture thereto, dated as of May 1, 1987, between the Original Company and BANK OF MONTREAL TRUST COMPANY (The Bank of New York Mellon, successor) and Z. GEORGE KLODNICKI (Stephen J. Giurlando, successor), as trustees (herein called the “First Supplemental Indenture”); and
WHEREAS, the Original Indenture was recorded in various Parishes in the State of Louisiana; and
WHEREAS, the Original Company executed and delivered to the Trustees (such term and all other defined terms used herein and not defined herein having the respective definitions to which reference is made in Article I below) its Second Supplemental Indenture, dated as of January 1, 1988, its Third Supplemental Indenture, dated as of March 1, 1993, its Fourth Supplemental Indenture, dated as of September 1, 1993, its Fifth Supplemental Indenture, dated as of April 1, 1995, its Sixth Supplemental Indenture, dated as of March 1, 1996, its Seventh Supplemental Indenture, dated as of July 1, 1998 (the “Seventh Supplemental Indenture”), its Eighth Supplemental Indenture, dated as of July 1, 2000 (the “Eighth Supplemental Indenture”), its Ninth Supplemental Indenture, dated as of February 1, 2001, its Tenth Supplemental Indenture, dated as of October 1, 2002, its Eleventh Supplemental Indenture, dated as of July 1, 2003, its Twelfth Supplemental Indenture dated as of August 1, 2004, its Thirteenth Supplemental Indenture dated as of August 15, 2004, its Fourteenth Supplemental Indenture dated as of June 1, 2005, its Fifteenth Supplemental Indenture, dated as of November 1, 2010, its Sixteenth Supplemental Indenture, dated as of November 1, 2012 (the “Sixteenth Supplemental Indenture”), and its Seventeenth Supplemental Indenture, dated as of June 1, 2013, which Supplemental Indentures have been duly recorded in various Parishes in the State of Louisiana; and
WHEREAS, the Original Company executed and delivered to the Trustee its Eighteenth Supplemental Indenture, dated as of March 3, 2016 in connection with the acquisition by the Original Company of certain real property and interests in real property situated in Arkansas, which Supplemental Indenture has been recorded in Union County, Arkansas and certain Parishes in Louisiana; and
WHEREAS, the Original Company executed and delivered to the Trustee its Nineteenth Supplemental Indenture, dated as of March 15, 2016, and its Twentieth Supplemental Indenture, dated as of May 1, 2016 (the “Twentieth Supplemental Indenture”), each as a supplement to the Original Indenture, which Supplemental Indentures have been duly recorded in various Parishes in the State of Louisiana and in Union County, Arkansas; and
    1
			
	

WHEREAS, pursuant to an Agreement and Plan of Merger dated as of March 18, 1999, Harris Trust Company of New York merged into Bank of Montreal Trust Company, Trustee under the Indenture, and effective July 1, 1999, the combined entity changed its name to Harris Trust Company of New York, and, by virtue of Section 9.03 of the Original Indenture, Harris Trust Company of New York became successor Trustee under the Indenture, without execution of any paper or the performance of any further act on the part of any other parties to the Indenture; and
WHEREAS, effective July 15, 2000, Harris Trust Company of New York and Mark F. McLaughlin resigned as Trustee and Co-Trustee, respectively, under the Indenture, and by the Eighth Supplemental Indenture, the Original Company appointed The Bank of New York and Stephen J. Giurlando as successor Trustee and successor Co-Trustee, respectively, effective July 15, 2000, and The Bank of New York and Stephen J. Giurlando accepted said respective appointments; and  
WHEREAS, effective July 1, 2008, The Bank of New York changed its name to The Bank of New York Mellon; and
WHEREAS, effective November 1, 2010, Stephen J. Giurlando resigned as Co-Trustee under the Indenture; and
WHEREAS, effective as of November 16, 2017, the Original Company changed its state of incorporation from Louisiana to Texas and converted to a Texas corporation; and
WHEREAS, effective as of 11:58 p.m. Central Time, November 30, 2017, the Original Company allocated to the Company, among other things, all of its rights, powers, duties and obligations under the Indenture and the bonds outstanding thereunder and, subject to the Lien of the Indenture, all of the Mortgaged and Pledged Property as an entirety (the “2017 Transfer”) pursuant to a Plan of Merger between the Original Company and the Company (the “2017 Transfer Documents”), in connection with which, among other things, the Company succeeded to the ownership of all of the Original Company’s right, title and interest in and to the Mortgaged and Pledged Property as constituted immediately prior to the time that the 2017 Transfer became effective and succeeded to all of the Original Company’s rights, powers, duties and obligations under the Indenture and the bonds outstanding thereunder; and
WHEREAS, the Company executed and delivered to the Trustee the Twenty-first Supplemental Indenture, dated as of November 30, 2017 (“Twenty-first Supplemental Indenture”) in which the Company assumed and agreed to pay, duly and punctually, the principal of and interest on the bonds issued under the Indenture in accordance with the provisions of said bonds and any coupons and of the Indenture, and agreed to perform and fulfill all the covenants and conditions of the Indenture to be kept or performed by the Original Company, which Twenty-first Supplemental Indenture has been duly recorded in various Parishes in the State of Louisiana, in Union County, Arkansas and with the Secretary of State of the State of Texas; and 
WHEREAS, effective as of December 1, 2017, the name of the Company was changed from Entergy New Orleans Power, LLC to Entergy New Orleans, LLC; and
WHEREAS, the Company executed and delivered to the Trustee its Twenty-second Supplemental Indenture, dated as of September 15, 2018 (the “Twenty-second Supplemental Indenture”) and its Twenty-third Supplemental Indenture, dated as of March 1, 2020 (the “Twenty-third Supplemental Indenture”), each as a supplement to the Original Indenture, which Twenty-second Supplemental Indenture and Twenty-third Supplemental Indenture have been duly recorded in various Parishes in the State of Louisiana, in Union County, Arkansas, and with 
    2
			
	

the Secretary of State of the State of Texas, and, this Twenty-fourth Supplemental Indenture will be recorded in the same Parishes and County and with the same Secretary of State; and
WHEREAS, the Original Company or the Company has heretofore issued, in accordance with the provisions of the Indenture, the following series of bonds:
															
	
Series	Principal Amount
Issued 
	Principal Amount
Outstanding

	10.95% Series due May 1, 1997
	$75,000,000		None	
	13.20% Series due February 1, 1991
	1,400,000		None	
	13.60% Series due February 1, 1993
	29,400,000		None	
	13.90% Series due February 1, 1995
	9,200,000		None	
	7% Series due March 1, 2003
	25,000,000		None	
	8% Series due March 1, 2023
	45,000,000		None	
	7.55% Series due September 1, 2023
	30,000,000		None	
	8.67% Series due April 1, 2005
	30,000,000		None	
	8% Series due March 1, 2006
	40,000,000		None	
	7% Series due July 15, 2008
	30,000,000		None	
	8.125% Series due July 15, 2005
	30,000,000		None	
	6.65% Series due March 1, 2004
	30,000,000		None	
	6.75% Series due October 15, 2017
	25,000,000		None	
	3.875% Series due August 1, 2008
	30,000,000		None	
	5.25% Series due August 1, 2013
	70,000,000		None	
	5.65% Series due September 1, 2029
	40,000,000		None	
	5.60% Series due September 1, 2024
	35,000,000		None	
	4.98% Series due July 1, 2010
	30,000,000		None	
	5.10% Series due December 1, 2020
	25,000,000		None	
	5.0% Series due December 1, 2052
	30,000,000		30,000,000	
	3.90% Series due July 1, 2023	100,000,000		100,000,000	
	5.50% Series due April 1, 2066	110,000,000		110,000,000	
	4% Series due June 1, 2026
4.51% Series due September 30, 2033
3.00% Series due March 15, 2025
3.75% Series due March 15, 2040
	85,000,000
60,000,000
78,000,000
62,000,000
		85,000,000
60,000,000
78,000,000
62,000,000
	

; and
WHEREAS, Section 19.04 of the Original Indenture provides, among other things, that any power, privilege or right expressly or impliedly reserved to or in any way conferred upon the Company by any provision of the Indenture, whether such power, privilege or right is in any way restricted or is unrestricted, may be in whole or in part waived or surrendered or subjected to any restriction if at the time unrestricted, or to additional restriction if already restricted, and the Company may enter into any further covenants, limitations, restrictions or provisions for the benefit of any one or more series of bonds issued thereunder, or the Company may establish the terms and provisions of any series of bonds by an instrument in writing executed and 
    3
			
	

acknowledged by the Company in such manner as would be necessary to entitle a conveyance of real estate to be recorded in all of the states in which any property at the time subject to the Lien of the Indenture shall be situated; and
WHEREAS, the Company desires to create two new series of bonds under the Indenture and to add to its covenants and agreements contained in the Indenture certain other covenants and agreements to be observed by it; and
WHEREAS, all things necessary to make this Twenty-fourth Supplemental Indenture a valid, binding and legal instrument have been performed, and the issue of said series of bonds, subject to the terms of the Indenture, has been in all respects duly authorized;
NOW, THEREFORE, THIS TWENTY-FOURTH SUPPLEMENTAL INDENTURE WITNESSETH: That ENTERGY NEW ORLEANS, LLC, in consideration of the premises and of Ten Dollars ($10) to it duly paid by the Trustee at or before the ensealing and delivery of these presents, the receipt whereof is hereby acknowledged, and in order to secure the payment of both the principal of and interest and premium, if any, on the bonds from time to time issued under the Indenture, according to their tenor and effect and the performance of all provisions of the Indenture (including any modification made as in the Indenture provided) and of said bonds, has  granted, bargained, sold, released, conveyed, assigned, transferred, mortgaged, hypothecated, affected, pledged, set over and confirmed and granted a security interest in, and hereby grants, bargains, sells, releases, conveys, assigns, transfers, mortgages, hypothecates, affects, pledges, sets over and confirms and grants a security interest (subject, however, to Excepted Encumbrances as defined in Section 1.06 of the Original Indenture) unto THE BANK OF NEW YORK MELLON, as Trustee under the Indenture, and to its successor or successors in said trust, and to said Trustee and its successors and assigns forever, (a) all of the Mortgaged and Pledged Property acquired by the Company from the Original Company pursuant to the 2017 Transfer Documents (including, but not limited to, (1) all rights, legal and equitable, of the Original Company (whether in accordance with Paragraph 32 of that certain Resolution No. R-86-112, adopted by the Council of the City of New Orleans on March 20, 1986 and accepted by the Original Company on March 25, 1986, as superseded by Resolution No. R-91-157, effective October 4, 1991, or pursuant to other regulatory authorization or by operation of law or otherwise), in the event of the purchase and acquisition by the City of New Orleans (or any other governmental authority or instrumentality or designee thereof) of properties and assets of the Company, to recover and receive payment and compensation from the City (or from such other governmental authority or instrumentality or designee thereof or any other person) of an amount equal to the aggregate uncollected balance of (A) the deferrals of Grand Gulf 1 Costs (as defined in the Original Indenture) and the deferred carrying charges accrued thereon that have accumulated prior to the City or such other entity providing official notice to the Company of the City’s or such other entity’s intent to effect such purchase and acquisition and (B) if and to the extent that the City or such other entity and the Company agree that the City or such other entity is liable for all or a portion of the aggregate uncollected balance of such deferrals accumulating thereafter or a court of final resort so holds, such deferrals that have accumulated subsequent to such notice (said rights of the Company, together with the proceeds and products thereof, being defined in the Original Indenture as the “Municipalization Interest”); and (2) all properties of the Original Company specifically described in Article IX hereof) and improvements, extensions and additions thereto and renewals and replacements thereof, (b) the property made and used by the Company as the basis under any of the provisions of the Indenture for the authentication and delivery of additional bonds or the withdrawal of cash or the release of property, (c) such franchises, repairs and additional property as may be acquired, made or constructed by the Company (1) to maintain, renew and preserve the franchises covered by the Indenture, or (2) to maintain the property mortgaged and intended to be mortgaged under the Indenture, as an operating system or systems in good repair, working order and condition, or (3) in rebuilding or renewal of property, subject to the Lien of the Indenture, damaged or destroyed, or (4) in 
    4
			
	

replacement of or substitution for machinery, apparatus, equipment, frames, towers, poles, wire, pipe, rails, ties, switches, tools, implements and furniture, subject to the Lien of the Indenture, which shall have become old, inadequate, obsolete, worn out, unfit, unadapted, unserviceable, undesirable or unnecessary for use in the operation of the property mortgaged and intended to be mortgaged under the Indenture, and (d) all other property, real, personal and mixed, acquired by the Company after the effective time of the 2017 Transfer (except any herein or in the Original Indenture, as heretofore supplemented, expressly excepted), now owned or, subject to the provisions of Section 15.03 of the Original Indenture, hereafter acquired by the Company (by purchase, consolidation, merger, donation, construction, erection or in any other way) and wheresoever situated, including (without in anywise limiting or impairing by the enumeration of the same the scope and intent of the foregoing or of any general description contained herein or in the Original Indenture, as heretofore supplemented) all real estate, lands, easements, servitudes, licenses, permits, franchises, privileges, rights of way and other rights in or relating to real estate or the occupancy of the same; all power sites, flowage rights, water rights, water locations, water appropriations, ditches, flumes, reservoirs, reservoir sites, canals, raceways, waterways, dams, dam sites, aqueducts, and all other rights or means for appropriating, conveying, storing and supplying water; all rights of way and roads; all plants for the generation of electricity by steam, water and/or other power; all power houses, gas plants, street lighting systems, standards and other equipment incidental thereto; all telephone, radio and television systems, air-conditioning systems, and equipment incidental thereto, water wheels, water works, water systems, steam heat and hot water plants, substations, electric, gas and water lines, service and supply systems, bridges, culverts, tracks, ice or refrigeration plants and equipment, offices, buildings and other structures and the equipment thereof; all machinery, engines, boilers, dynamos, turbines, electric, gas and other machines, prime movers, regulators, meters, transformers, generators (including, but not limited to, engine driven generators and turbogenerator units), motors, electrical, gas and mechanical appliances, conduits, cables, water, steam heat, gas or other pipes, gas mains and pipes, service pipes, fittings, valves and connections, pole and transmission lines, towers, overhead conductors and devices, underground conduits, underground conductors and devices, wires, cables, tools, implements, apparatus, storage battery equipment, and all other fixtures and personalty; all municipal and other franchises, consents or permits; all lines for the transmission and distribution of electric current, gas, steam heat or water for any purpose including towers, poles, wires, cables, pipes, conduits, ducts and all apparatus for use in connection therewith and (except as herein or in the Original Indenture, as heretofore supplemented, expressly excepted) all the rights, title and interest of the Company in and to all other property of any kind or nature appertaining to and/or used and/or occupied and/or enjoyed in connection with any property herein or in the Original Indenture, as heretofore supplemented, described. 
TOGETHER WITH all and singular the tenements, hereditaments, prescriptions, servitudes and appurtenances belonging or in anywise appertaining to the aforesaid property or any part thereof, with the reversion and reversions, remainder and remainders and (subject to the provisions of Section 11.01 of the Original Indenture) the tolls, rents, revenues, issues, earnings, income, product and profits thereof, and all the estate, right, title and interest and claim whatsoever, at law as well as in equity, which the Company now has or may hereafter acquire in and to the aforesaid property, rights and franchises and every part and parcel thereof.
IT IS HEREBY AGREED by the Company that, subject to the provisions of Section 15.03 of the Original Indenture, all the property, rights and franchises acquired by the Company (by purchase, consolidation, merger, donation, construction, erection or in any other way and including real property and interests situated in Louisiana, Arkansas and elsewhere) after the date hereof, except any herein or in the Original Indenture, as heretofore supplemented, expressly excepted, shall be and are as fully granted and conveyed hereby and as fully embraced within the Lien of the Original Indenture and the Lien hereof as if such property, rights and franchises were 
    5
			
	

now owned by the Company and were specifically described herein and granted and conveyed hereby.
PROVIDED that, except as provided herein and in the Original Indenture with respect to the Municipalization Interest, the following are not and are not intended to be now or hereafter granted, bargained, sold, released, conveyed, assigned, transferred, mortgaged, hypothecated, affected, pledged, set over or confirmed hereunder, nor is a security interest therein hereby or by the Original Indenture, as heretofore supplemented, granted or intended to be granted, and the same are hereby expressly excepted from the Lien of the Indenture and the operation of this Twenty-fourth Supplemental Indenture, viz.: (1) cash, shares of stock, bonds, notes and other obligations and other securities not heretofore or hereafter specifically pledged, paid, deposited, delivered or held hereunder or covenanted so to be; (2) merchandise, equipment, apparatus, materials or supplies held for the purpose of sale or other disposition in the usual course of business or for the purpose of repairing or replacing (in whole or part) any rolling stock, buses, motor coaches, automobiles and other vehicles or aircraft or boats, ships, or other vessels and any fuel, oil and similar materials and supplies consumable in the operation of any of the properties of the Company; rolling stock, buses, motor coaches, automobiles and other vehicles and all aircraft; boats, ships and other vessels; all timber, minerals, mineral rights and royalties; (3) bills, notes and other instruments and accounts receivable, judgments, demands, general intangibles and choses in action, and all contracts, leases and operating agreements not specifically pledged hereunder or under the Original Indenture or covenanted so to be; (4) the last day of the term of any lease or leasehold which may hereafter become subject to the Lien of the Indenture; (5) electric energy, gas, water, steam, ice, and other materials or products generated, manufactured, produced or purchased by the Company for sale, distribution or use in the ordinary course of its business; (6) any natural gas wells or natural gas leases or natural gas transportation lines or other works or property used primarily and principally in the production of natural gas or its transportation, primarily for the purpose of sale to natural gas customers or to a natural gas distribution or pipeline company, up to the point of connection with any distribution system; (7) the Company’s franchise to be a corporation; and (8) any property heretofore released pursuant to any provisions of the Indenture; provided, however, that the property and rights expressly excepted from the Lien and operation of the Indenture in the above subdivisions (2) and (3) shall (to the extent permitted by law) cease to be so excepted in the event and as of the date that the Trustee or a receiver or trustee shall enter upon and take possession of the Mortgaged and Pledged Property in the manner provided in Article XII of the Original Indenture by reason of the occurrence of a Default.
TO HAVE AND TO HOLD all such properties, real, personal and mixed, granted, bargained, sold, released, conveyed, assigned, transferred, mortgaged, hypothecated, affected, pledged, set over or confirmed or in which a security interest has been granted by the Company as aforesaid, or intended so to be (subject, however, to Excepted Encumbrances as defined in Section 1.06 of the Original Indenture), unto (to the extent of its legal capacity to hold the same for the purposes hereof) THE BANK OF NEW YORK MELLON, and its successors and assigns forever. 
IN TRUST NEVERTHELESS, for the same purposes and upon the same terms, trusts and conditions and subject to and with the same provisos and covenants as are set forth in the Original Indenture, as heretofore supplemented, this Twenty-fourth Supplemental Indenture being supplemental thereto.
AND IT IS HEREBY COVENANTED by the Company that all the terms, conditions, provisos, covenants and provisions contained in the Original Indenture, as heretofore supplemented, shall affect and apply to the property hereinbefore and hereinafter described and conveyed and to the estate, rights, obligations and duties of the Company and the Trustee and the beneficiaries of the trust with respect to said property, and to the Trustee and its successors as 
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Trustee of said property in the same manner and with the same effect as if said property had been owned by the Company at the time of the execution of the Original Indenture and had been specifically and at length described in and conveyed to said Trustee by the Original Indenture as a part of the property therein stated to be conveyed.
The Company further covenants and agrees to and with the Trustee and its successor or successors in said trust under the Indenture, as follows:
ARTICLE I 
DEFINITIONS AND RULES OF CONSTRUCTION
Section 1.01    Terms From the Original Indenture and First through Twenty-third Supplemental Indentures. Except as set forth in Section 1.02 below, all defined terms used in this Twenty-fourth Supplemental Indenture and not otherwise defined herein shall have the respective meanings ascribed to them in the Original Indenture or the First through the Twenty-third Supplemental Indentures, as the case may be. 

Section 1.02    Certain Defined Terms. As used in this Twenty-fourth Supplemental Indenture, the following defined terms shall have the respective meanings specified unless the context clearly requires otherwise: 

The term “Bonds of the Twenty-seventh Series” shall have the meaning specified in Section 2.01.
The term “Bonds of the Twenty-eighth Series” shall have the meaning specified in Section 3.01.
The term “Business Day” shall mean 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.

Section 1.03    References are to Twenty-fourth Supplemental Indenture. Unless the context otherwise requires, all references herein to “Articles”, “Sections” and other subdivisions refer to the corresponding Articles, Sections and other subdivisions of this Twenty-fourth Supplemental Indenture, and the words “herein”, “hereof”, “hereby”, “hereunder” and words of similar import refer to this Twenty-fourth Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision hereof or to the Original Indenture or any other supplemental indenture thereto.

Section 1.04    Number and Gender. Unless the context otherwise requires, defined terms in the singular include the plural, and in the plural include the singular. The use of a word of any gender shall include all genders. 

ARTICLE II 
THE TWENTY-SEVENTH SERIES
Section 2.01    Bonds of the Twenty-seventh Series. Pursuant to Section 2.01 of the Original Indenture, there shall be a series of bonds designated 4.19% Series due November 19, 2031 (herein sometimes referred to as the “Bonds of the Twenty-seventh Series”), each of which shall also bear the descriptive title “First Mortgage Bond.” The form of Bonds of the Twenty-seventh Series shall be substantially in the form of Exhibit A hereto. Bonds of the Twenty-seventh Series (which shall be issued in the aggregate principal amount of $90,000,000) shall 
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mature on November 19, 2031, and shall be issued only as fully registered bonds in denominations of One Hundred Thousand Dollars ($100,000) and in any integral multiple of One Thousand Dollars ($1,000) in excess thereof. Bonds of the Twenty-seventh Series shall bear interest at the rate of four and nineteen one-hundredths percent (4.19%) per annum (except as hereinafter provided), payable semi-annually on May 19 and November 19 of each year, and at maturity or earlier redemption, the first interest payment to be made on May 19, 2022, for the period from the date of original issuance of the Bonds of the Twenty-seventh Series to, but not including, May 19, 2022; unless otherwise agreed between the Company and the registered owner of any Bonds of the Twenty-seventh Series registered in the name of such registered owner, the principal and interest on each said bond to be payable at the office or agency of the Company in the Borough of Manhattan, The City of New York, New York, payable in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts. Unless otherwise agreed between the Company and the registered owner of any Bonds of the Twenty-seventh Series registered in the name of such registered owner, interest on Bonds of the Twenty-seventh Series may at the option of the Company be paid by check mailed to the registered owners thereof. Overdue principal and (to the extent permitted by law) overdue interest in respect of Bonds of the Twenty-seventh Series shall bear interest (before and after judgment) at the rate of five and nineteen one-hundredths percent (5.19%) per annum. Interest on the Bonds of the Twenty-seventh Series shall be computed on the basis of a 360-day year consisting of 12 thirty-day months.  Interest on Bonds of the Twenty-seventh Series in respect of a portion of a month shall be calculated based on the actual number of days elapsed using a 30-day month. In any case where any interest payment date, redemption date or maturity of any Bond of the Twenty-seventh Series shall not be a Business Day, then payment of interest or principal need not be made on such date, but may be made on the next succeeding Business Day, with the same force and effect, and in the same amount, as if made on the corresponding interest payment date or redemption date, or at maturity, as the case may be, and, if such payment is made or duly provided for on such Business Day, no interest shall accrue on the amounts so payable for the period from and after such interest payment date, redemption date or maturity, as the case may be, to such Business Day. 

All references in the Indenture to the principal amount of bonds shall, when used with respect to the Bonds of the Twenty-seventh Series, mean the unpaid principal amount thereof, except that, (a) for the purposes of transfers of fully registered bonds under Section 2.06 of the Original Indenture, the term “like principal amount” shall, when used with respect to the Bonds of the Twenty-seventh Series, mean “like aggregate unpaid principal amount”, and (b) for the purposes of exchanges of temporary bonds under Section 2.08 of the Original Indenture, the term “like aggregate principal amount” shall, when used with respect to the Bonds of the Twenty-seventh Series, mean “like aggregate unpaid principal amount.”  
The Company reserves the right to establish at any time, by Resolution of the Board of Directors of the Company, a form of coupon bond, and of appurtenant coupons, for the Twenty-seventh Series and to provide for exchangeability of such coupon bonds with the bonds of said Series issued hereunder in fully registered form and to make all appropriate provisions for such purpose.
Section 2.02    Redemption of Bonds of the Twenty-seventh Series.     (a) The Bonds of the Twenty-seventh Series shall be redeemable at the option of the Company, in whole or in part, upon notice mailed not less than thirty (30) days nor more than sixty (60) days prior to the date fixed for redemption, at any time prior to August 19, 2031 (three months prior to the maturity date of the Bonds of the Twenty-seventh Series) (the “Twenty-seventh Series Par Call Date”), at a redemption price equal to 100% of the principal amount so redeemed, and the Make-Whole Amount determined for the redemption date with respect to such principal amount.  Each such notice shall specify such redemption date (which shall be a Business Day), the aggregate 
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principal amount of the Bonds of the Twenty-seventh Series to be redeemed on such redemption date, the principal amount of each Bond of the Twenty-seventh Series held by such holder to be redeemed, and the interest to be paid on such redemption date with respect to such principal amount being redeemed, and shall set forth a calculation showing in reasonable detail the estimated Make-Whole Amount due in connection with such redemption (calculated as if the date of such notice were the redemption date).  Not later than 12:00 noon (New York City time) on the Business Day prior to such redemption, the Company shall deliver to each holder of Bonds of the Twenty-seventh Series a written calculation of such Make-Whole Amount as of the specified redemption date. The Trustee shall have no obligation to determine the Make-Whole Amount or to verify the Company’s determination thereof.

As used herein, the following defined terms shall have the respective meanings specified unless the context clearly requires otherwise:

The term “Make-Whole Amount” means, with respect to any Bond of the Twenty-seventh Series, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such Bond of the Twenty-seventh Series over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero.  
“Called Principal” means, with respect to any Bond of the Twenty-seventh Series, the principal of such Bond of the Twenty-seventh Series that is to be redeemed pursuant to subsection (a) of this Section 2.02.
    “Discounted Value” means, with respect to the Called Principal of any Bond of the Twenty-seventh Series, the amount obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates (assuming that the maturity date of the Bonds of the Twenty-seventh Series is the Twenty-seventh Series Par Call Date) to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on a semiannual basis) equal to the Reinvestment Yield with respect to such Called Principal.
“Reinvestment Yield” means, with respect to the Called Principal of any Bond of the Twenty-seventh Series, the sum of (a) 0.50% plus (b) the yield to maturity implied by the “Ask Yield(s)” reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1”  (or such other display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities (“Reported”) having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date.  If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will be determined by (i) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial practice and (ii) interpolating linearly between the “Ask Yields” Reported for the applicable most recently issued actively traded on-the-run U.S. Treasury securities with the maturities (1) closest to and greater than such Remaining Average Life and (2) closest to and less than such Remaining Average Life.  The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Bond of the Twenty-seventh Series.  
If such yields are not Reported or the yields Reported as of such time are not ascertainable (including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Bond of the Twenty-seventh Series, the sum of (x) 0.50% plus (y) the yield to maturity implied by the U.S. Treasury constant maturity yields reported, for the latest 
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day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for the U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date.  If there is no such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield to maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and (2) the U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life.  The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Bond of the Twenty-seventh Series.
“Remaining Average Life” means, with respect to any Called Principal of any Bond of the Twenty-seventh Series, the number of years obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years, computed on the basis of a 360-day year comprised of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment (assuming that the maturity date of the Bonds of the Twenty-seventh Series is the Twenty-seventh Series Par Call Date).
“Remaining Scheduled Payments” means, with respect to the Called Principal of any Bond of the Twenty-seventh Series, all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date (assuming that the maturity date of the Bonds of the Twenty-seventh Series is the Twenty-seventh Series Par Call Date), provided that if such Settlement Date is not a date on which interest payments are due to be made under the Bonds of the Twenty-seventh Series, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on such Settlement Date pursuant to subsection (a) of this Section 2.02.
“Settlement Date” means, with respect to the Called Principal of any Bond of the Twenty-seventh Series, the date on which such Called Principal is to be redeemed pursuant to subsection (a) of this Section 2.02.
    (b) The Bonds of the Twenty-seventh Series shall also be redeemable at the option of the Company, in whole or in part, on not less than thirty (30) days’ nor more than sixty (60) days’ notice prior to the date fixed for redemption, at any time on or after the Twenty-seventh Series Par Call Date, at a redemption price equal to the principal amount of the Bonds of the Twenty-seventh Series being redeemed plus accrued and unpaid interest thereon to, but not including, such redemption date.
(c) Bonds of the Twenty-seventh Series shall also be redeemable, at the option of the holders thereof, as provided in Section 3.04 of the First Supplemental Indenture, as heretofore and hereby amended.  Any redemption under said Section 3.04, as amended, shall be at a redemption price equal to 100% of the principal amount of the Bonds of the Twenty-seventh Series being redeemed plus accrued and unpaid interest thereon to the redemption date.
(d) Bonds of the Twenty-seventh Series shall also be redeemable as follows:
Should all or substantially all of the Mortgaged and Pledged Property be taken by the City of New Orleans or any instrumentality or designee thereof by the exercise of the power of eminent domain or taken by the exercise by the City of New Orleans or any instrumentality or designee thereof of the right to purchase or otherwise acquire the same, or should such 
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Mortgaged and Pledged Property be voluntarily sold, transferred or otherwise conveyed to the City of New Orleans or such instrumentality or designee thereof, then, in any such event, the Company shall, upon the consummation of such taking, sale, transfer or other conveyance (in any case whether or not the Lien of the Indenture is released with respect to such Mortgaged and Pledged Property), immediately request the Trustee to take, and upon receipt of such request the Trustee shall take, all requisite action to prepare (in consultation with the Company) and to mail written notice thereof to each registered holder of any Outstanding Bond of the Twenty-seventh Series, at his or her last address appearing upon the registry books, such notice (hereinafter referred to in this Section 2.02(d) as the “Trustee’s Special Notice”), to state that it is given pursuant to this Section 2.02(d) of this Twenty-fourth Supplemental Indenture and that the holder of any Bond or Bonds of the Twenty-seventh Series then Outstanding shall have the right to require the Company to redeem such Bond or Bonds of the Twenty-seventh Series, in whole or in part, on the terms and subject to the conditions hereinafter in this Section 2.02(d) set forth. 
Upon the mailing of the Trustee’s Special Notice, the holder of any Bonds of the Twenty-seventh Series then Outstanding may, within forty-five (45) days from the date of the Trustee’s Special Notice, give the Trustee written notice of such holder’s intent to have his or her Bond or Bonds of the Twenty-seventh Series redeemed by the Company on the sixtieth (60th) day following the date of the Trustee’s Special Notice, upon delivery and surrender of such Bond or Bonds of the Twenty-seventh Series accompanied by such documentation as the Trustee or the Company may require. Unless on or prior to the forty-fifth (45th) day following the date of the Trustee’s Special Notice, such holder shall have, by further written notice to the Trustee, withdrawn or revoked such written notice of intent to have his or her Bond or Bonds of the Twenty-seventh Series so redeemed, the Company shall, on the sixtieth (60th) day following the date of the Trustee’s Special Notice, redeem any such Bond or Bonds of the Twenty-seventh Series that are properly delivered and surrendered for that purpose at the special redemption price of 101% of the principal amount thereof plus accrued and unpaid interest thereon to the redemption date.
(e)  In the case of each partial redemption of the Bonds of the Twenty-seventh Series pursuant to subsection (a) or (b) of this section, the principal amount of the Bonds of the Twenty-seventh Series to be redeemed shall be allocated by the Company among all of the Bonds of the Twenty-seventh Series at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for redemption.
    (f) In the case of each notice of redemption of Bonds of the Twenty-seventh Series pursuant to subsection (a) or (b) of this section, if cash sufficient to pay the principal amount to be redeemed on the Settlement Date (which shall be a Business Day), together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if any, is not paid as agreed upon by the Company and each registered owner of the affected Bonds of the Twenty-seventh Series, or, to the extent that there is no such agreement entered into with one or more such owners, deposited with the Trustee on or before the Settlement Date, then such notice of redemption shall be of no effect.  If such cash is so paid or deposited, such principal amount of the Bonds of the Twenty-seventh Series shall be deemed paid for all purposes and interest on such principal amount shall cease to accrue.  In case the Company pays any registered owner pursuant to an agreement with that registered owner, whether in the case of redemption or at maturity or otherwise, the Company shall notify the Trustee as promptly as practicable of such agreement and payment, and shall furnish the Trustee with a copy of such agreement and evidence of such payment, which may include a confirmation of wire transfer or other credit to an account designated by the registered owner, cancelled check or a receipt signed by the registered owner; in case the Company deposits any cash with the Trustee, the Company shall 
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provide therewith a list of the registered owners and the amount of such cash each registered owner is to receive.  The Trustee shall be under no duty to inquire into, may conclusively presume the correctness of, and shall be fully protected in relying upon the information set forth in any such notice, evidence of payment, list or agreement, and shall not be chargeable with knowledge of any of the contents of any such agreement.  Any Bond of the Twenty-seventh Series redeemed in full shall be surrendered to the Company or the Trustee for cancellation on or before the Settlement Date (unless otherwise agreed between the Company and the registered owner) or, with respect to cash deposited with the Trustee, before payment of such cash by the Trustee; any Bond of the Twenty-seventh Series redeemed in part shall be surrendered to the Company or the Trustee on or before the Settlement Date (unless otherwise agreed between the Company and the registered owner) or, with respect to cash deposited with the Trustee before payment of such cash by the Trustee, for a substitute bond in the principal amount remaining unpaid.  
Section 2.03    Transfer and Exchange. (a) At the option of the registered owner, any Bonds of the Twenty-seventh Series, upon surrender thereof for cancellation at the office or agency of the Company in the Borough of Manhattan, The City of New York, New York, shall be exchangeable for a like aggregate principal amount of Bonds of the Twenty-seventh Series of other authorized denominations.
Bonds of the Twenty-seventh Series shall be transferable, upon the surrender thereof for cancellation, together with a written instrument of transfer in form approved by the registrar duly executed by the registered owner or by his or her duly authorized attorney, at the office or agency of the Company in the Borough of Manhattan, The City of New York, New York.
Upon any such exchange or transfer of Bonds of the Twenty-seventh Series, the Company may make a charge therefor sufficient to reimburse it for any tax or taxes or other governmental charge, as provided in Section 2.05 of the Original Indenture, but the Company hereby waives any right to make a charge in addition thereto for any such exchange or transfer of Bonds of the Twenty-seventh Series.
Section 2.04    Dating of Bonds and Interest Payments. (a) Each Bond of the Twenty-seventh Series shall be dated as of the date of authentication and shall bear interest from the last preceding interest payment date to which interest shall have been paid (unless the date of such bond is an interest payment date to which interest is paid, in which case from the date of such bond); provided that each Bond of the Twenty-seventh Series dated prior to May 19, 2022 shall bear interest from the date of original issuance thereof; and provided, further, that if any Bond of the Twenty-seventh Series shall be authenticated and delivered upon a transfer of, or in exchange for or in lieu of, any other Bond or Bonds of the Twenty-seventh Series upon which interest is in default, it shall be dated so that such bond shall bear interest from the last preceding date to which interest shall have been paid on the bond or bonds in respect of which such bond shall have been delivered or from its date of original issuance, if no interest shall have been paid on the Bonds of the Twenty-seventh Series.
(b) Notwithstanding the foregoing, Bonds of the Twenty-seventh Series shall be dated so that the person in whose name any Bond of the Twenty-seventh Series is registered at the close of business on the Business Day immediately preceding an interest payment date shall be entitled to receive the interest payable on the interest payment date notwithstanding the cancellation of such bond upon any transfer or exchange thereof subsequent to such close of business and prior to such interest payment date, except if, and to the extent that, the Company shall default in the payment of interest due on such interest payment date, in which case such defaulted interest shall be paid to the persons in whose names Outstanding Bonds of the Twenty-seventh Series are registered at the close of business on the Business Day immediately preceding the date of payment of such defaulted interest. Any Bond of the Twenty-seventh Series issued upon any 
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transfer or exchange subsequent to such close of business and prior to such interest payment date shall bear interest from such interest payment date. In the event there shall be more than one registered owner of Bonds of the Twenty-seventh Series, then the Company shall not be required to make transfers or exchanges of bonds of said series for a period of fifteen (15) days immediately preceding any interest payment date of said series.
ARTICLE III 
THE TWENTY-EIGHTH SERIES
Section 3.01    Bonds of the Twenty-eighth Series. Pursuant to Section 2.01 of the Original Indenture, there shall be a series of bonds designated 4.51% Series due November 19, 2036 (herein sometimes referred to as the “Bonds of the Twenty-eighth Series”), each of which shall also bear the descriptive title “First Mortgage Bond.” The form of Bonds of the Twenty-eighth Series shall be substantially in the form of Exhibit B hereto. Bonds of the Twenty-eighth Series (which shall be issued in the aggregate principal amount of $70,000,000) shall mature on November 19, 2036 and shall be issued only as fully registered bonds in denominations of One Hundred Thousand Dollars ($100,000) and in any integral multiple of One Thousand Dollars ($1,000) in excess thereof. Bonds of the Twenty-eighth Series shall bear interest at the rate of four and fifty-one one-hundredths percent (4.51%) per annum (except as hereinafter provided), payable semi-annually on May 19 and November 19 of each year, and at maturity or earlier redemption, the first interest payment to be made on May 19, 2022 for the period from the date of original issuance of the Bonds of the Twenty-eighth Series to, but not including, May 19, 2022; unless otherwise agreed between the Company and the registered owner of any Bonds of the Twenty-eighth Series registered in the name of such registered owner, the principal and interest on each said bond to be payable at the office or agency of the Company in the Borough of Manhattan, The City of New York, New York, payable in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts. Unless otherwise agreed between the Company and the registered owner of any Bonds of the Twenty-eighth Series registered in the name of such registered owner, interest on Bonds of the Twenty-eighth Series may at the option of the Company be paid by check mailed to the registered owners thereof. Overdue principal and (to the extent permitted by law) overdue interest in respect of Bonds of the Twenty-eighth Series shall bear interest (before and after judgment) at the rate of five and fifty-one one-hundredths percent (5.51%) per annum. Interest on the Bonds of the Twenty-eighth Series shall be computed on the basis of a 360-day year consisting of 12 thirty-day months.  Interest on Bonds of the Twenty-eighth Series in respect of a portion of a month shall be calculated based on the actual number of days elapsed using a 30-day month. In any case where any interest payment date, redemption date or maturity of any Bond of the Twenty-eighth Series shall not be a Business Day, then payment of interest or principal need not be made on such date, but may be made on the next succeeding Business Day, with the same force and effect, and in the same amount, as if made on the corresponding interest payment date or redemption date, or at maturity, as the case may be, and, if such payment is made or duly provided for on such Business Day, no interest shall accrue on the amounts so payable for the period from and after such interest payment date, redemption date or maturity, as the case may be, to such Business Day. 

All references in the Indenture to the principal amount of bonds shall, when used with respect to the Bonds of the Twenty-eighth Series, mean the unpaid principal amount thereof, except that, (a) for the purposes of transfers of fully registered bonds under Section 2.06 of the Original Indenture, the term “like principal amount” shall, when used with respect to the Bonds of the Twenty-eighth Series, mean “like aggregate unpaid principal amount”, and (b) for the purposes of exchanges of temporary bonds under Section 2.08 of the Original Indenture, the term “like aggregate principal amount” shall, when used with respect to the Bonds of the Twenty-eighth Series, mean “like aggregate unpaid principal amount.”  
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The Company reserves the right to establish at any time, by Resolution of the Board of Directors of the Company, a form of coupon bond, and of appurtenant coupons, for the Twenty-eighth Series and to provide for exchangeability of such coupon bonds with the bonds of said Series issued hereunder in fully registered form and to make all appropriate provisions for such purpose.
Section 3.02    Redemption of Bonds of the Twenty-eighth Series.     (a) The Bonds of the Twenty-eighth Series shall be redeemable at the option of the Company, in whole or in part, upon notice mailed not less than thirty (30) days nor more than sixty (60) days prior to the date fixed for redemption, at any time prior to August 19, 2036 (three months prior to the maturity date of the Bonds of the Twenty-eighth Series) (the “Twenty-eighth Series Par Call Date”), at a redemption price equal to 100% of the principal amount so redeemed, and the Make-Whole Amount determined for the redemption date with respect to such principal amount.  Each such notice shall specify such redemption date (which shall be a Business Day), the aggregate principal amount of the Bonds of the Twenty-eighth Series to be redeemed on such redemption date, the principal amount of each Bond of the Twenty-eighth Series held by such holder to be redeemed, and the interest to be paid on such redemption date with respect to such principal amount being redeemed, and shall set forth a calculation showing in reasonable detail the estimated Make-Whole Amount due in connection with such redemption (calculated as if the date of such notice were the redemption date).  Not later than 12:00 noon (New York City time) on the Business Day prior to such redemption, the Company shall deliver to each holder of Bonds of the Twenty-eighth Series a written calculation of such Make-Whole Amount as of the specified redemption date. The Trustee shall have no obligation to determine the Make-Whole Amount or to verify the Company’s determination thereof.

As used herein, the following defined terms shall have the respective meanings specified unless the context clearly requires otherwise:

The term “Make-Whole Amount” means, with respect to any Bond of the Twenty-eighth Series, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such Bond of the Twenty-eighth Series over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero.  
“Called Principal” means, with respect to any Bond of the Twenty-eighth Series, the principal of such Bond of the Twenty-eighth Series that is to be redeemed pursuant to subsection (a) of this Section 3.02.
    “Discounted Value” means, with respect to the Called Principal of any Bond of the Twenty-eighth Series, the amount obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates (assuming that the maturity date of the Bonds of the Twenty-eighth Series is the Twenty-eighth Series Par Call Date) to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on a semiannual basis) equal to the Reinvestment Yield with respect to such Called Principal.
“Reinvestment Yield” means, with respect to the Called Principal of any Bond of the Twenty-eighth Series, the sum of (a) 0.50% plus (b) the yield to maturity implied by the “Ask Yield(s)” reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or such other display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities (“Reported”) having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date.  If there are no such U.S. Treasury securities Reported having a maturity equal to such 
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Remaining Average Life, then such implied yield to maturity will be determined by (i) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial practice and (ii) interpolating linearly between the “Ask Yields” Reported for the applicable most recently issued actively traded on-the-run U.S. Treasury securities with the maturities (1) closest to and greater than such Remaining Average Life and (2) closest to and less than such Remaining Average Life.  The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Bond of the Twenty-eighth Series.  
If such yields are not Reported or the yields Reported as of such time are not ascertainable (including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Bond of the Twenty-eighth Series, the sum of (x) 0.50% plus (y) the yield to maturity implied by the U.S. Treasury constant maturity yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for the U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date.  If there is no such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield to maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and (2) the U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life.  The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Bond of the Twenty-eighth Series.
“Remaining Average Life” means, with respect to any Called Principal of any Bond of the Twenty-eighth Series, the number of years obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years, computed on the basis of a 360-day year comprised of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment (assuming that the maturity date of the Bonds of the Twenty-eighth Series is the Twenty-eighth Series Par Call Date).
“Remaining Scheduled Payments” means, with respect to the Called Principal of any Bond of the Twenty-eighth Series, all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date (assuming that the maturity date of the Bonds of the Twenty-eighth Series is the Twenty-eighth Series Par Call Date), provided that if such Settlement Date is not a date on which interest payments are due to be made under the Bonds of the Twenty-eighth Series, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on such Settlement Date pursuant to subsection (a) of this Section 3.02.
“Settlement Date” means, with respect to the Called Principal of any Bond of the Twenty-eighth Series, the date on which such Called Principal is to be redeemed pursuant to subsection (a) of this Section 3.02.
    (b) The Bonds of the Twenty-eighth Series shall also be redeemable at the option of the Company, in whole or in part, on not less than thirty (30) days’ nor more than sixty (60) days’ notice prior to the date fixed for redemption, at any time on or after the Twenty-eighth Series Par Call Date, at a redemption price equal to the principal amount of the Bonds of the Twenty-eighth Series being redeemed plus accrued and unpaid interest thereon to, but not including, such redemption date.
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(c) Bonds of the Twenty-eighth Series shall also be redeemable, at the option of the holders thereof, as provided in Section 3.04 of the First Supplemental Indenture, as heretofore and hereby amended.  Any redemption under said Section 3.04, as amended, shall be at a redemption price equal to 100% of the principal amount of the Bonds of the Twenty-eighth Series being redeemed plus accrued and unpaid interest thereon to the redemption date.
(d) Bonds of the Twenty-eighth Series shall also be redeemable as follows:
Should all or substantially all of the Mortgaged and Pledged Property be taken by the City of New Orleans or any instrumentality or designee thereof by the exercise of the power of eminent domain or taken by the exercise by the City of New Orleans or any instrumentality or designee thereof of the right to purchase or otherwise acquire the same, or should such Mortgaged and Pledged Property be voluntarily sold, transferred or otherwise conveyed to the City of New Orleans or such instrumentality or designee thereof, then, in any such event, the Company shall, upon the consummation of such taking, sale, transfer or other conveyance (in any case whether or not the Lien of the Indenture is released with respect to such Mortgaged and Pledged Property), immediately request the Trustee to take, and upon receipt of such request the Trustee shall take, all requisite action to prepare (in consultation with the Company) and to mail written notice thereof to each registered holder of any Outstanding Bond of the Twenty-eighth Series, at his or her last address appearing upon the registry books, such notice (hereinafter referred to in this Section 3.02(d) as the “Trustee’s Special Notice”), to state that it is given pursuant to this Section 3.02(d) of this Twenty-fourth Supplemental Indenture and that the holder of any Bond or Bonds of the Twenty-eighth Series then Outstanding shall have the right to require the Company to redeem such Bond or Bonds of the Twenty-eighth Series, in whole or in part, on the terms and subject to the conditions hereinafter in this Section 3.02(d) set forth. 
Upon the mailing of the Trustee’s Special Notice, the holder of any Bonds of the Twenty-eighth Series then Outstanding may, within forty-five (45) days from the date of the Trustee’s Special Notice, give the Trustee written notice of such holder’s intent to have his or her Bond or Bonds of the Twenty-eighth Series redeemed by the Company on the sixtieth (60th) day following the date of the Trustee’s Special Notice, upon delivery and surrender of such Bond or Bonds of the Twenty-eighth Series accompanied by such documentation as the Trustee or the Company may require. Unless on or prior to the forty-fifth (45th) day following the date of the Trustee’s Special Notice, such holder shall have, by further written notice to the Trustee, withdrawn or revoked such written notice of intent to have his or her Bond or Bonds of the Twenty-eighth Series so redeemed, the Company shall, on the sixtieth (60th) day following the date of the Trustee’s Special Notice, redeem any such Bond or Bonds of the Twenty-eighth Series that are properly delivered and surrendered for that purpose at the special redemption price of 101% of the principal amount thereof plus accrued and unpaid interest thereon to the redemption date.
(e) In the case of each partial redemption of the Bonds of the Twenty-eighth Series pursuant to subsection (a) or (b) of this section, the principal amount of the Bonds of the Twenty-eighth Series to be redeemed shall be allocated by the Company among all of the Bonds of the Twenty-eighth Series at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for redemption.
    (f) In the case of each notice of redemption of Bonds of the Twenty-eighth Series pursuant to subsection (a) or (b) of this section, if cash sufficient to pay the principal amount to be redeemed on the Settlement Date (which shall be a Business Day), together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if any, is not paid as agreed upon by the Company and each registered owner of the affected Bonds of the Twenty-eighth Series, or, to the extent that there is no such agreement entered into with one or more such owners, deposited with the Trustee on or before the Settlement Date, then such notice 
    16
			
	

of redemption shall be of no effect.  If such cash is so paid or deposited, such principal amount of the Bonds of the Twenty-eighth Series shall be deemed paid for all purposes and interest on such principal amount shall cease to accrue.  In case the Company pays any registered owner pursuant to an agreement with that registered owner, whether in the case of redemption or at maturity or otherwise, the Company shall notify the Trustee as promptly as practicable of such agreement and payment, and shall furnish the Trustee with a copy of such agreement and evidence of such payment, which may include a confirmation of wire transfer or other credit to an account designated by the registered owner, cancelled check or a receipt signed by the registered owner; in case the Company deposits any cash with the Trustee, the Company shall provide therewith a list of the registered owners and the amount of such cash each registered owner is to receive.  The Trustee shall be under no duty to inquire into, may conclusively presume the correctness of, and shall be fully protected in relying upon the information set forth in any such notice, evidence of payment, list or agreement, and shall not be chargeable with knowledge of any of the contents of any such agreement.  Any Bond of the Twenty-eighth Series redeemed in full shall be surrendered to the Company or the Trustee for cancellation on or before the Settlement Date (unless otherwise agreed between the Company and the registered owner) or, with respect to cash deposited with the Trustee, before payment of such cash by the Trustee; any Bond of the Twenty-eighth Series redeemed in part shall be surrendered to the Company or the Trustee on or before the Settlement Date (unless otherwise agreed between the Company and the registered owner) or, with respect to cash deposited with the Trustee before payment of such cash by the Trustee, for a substitute bond in the principal amount remaining unpaid.  
Section 3.03    Transfer and Exchange. (a) At the option of the registered owner, any Bonds of the Twenty-eighth Series, upon surrender thereof for cancellation at the office or agency of the Company in the Borough of Manhattan, The City of New York, New York, shall be exchangeable for a like aggregate principal amount of Bonds of the Twenty-eighth Series of other authorized denominations.
Bonds of the Twenty-eighth Series shall be transferable, upon the surrender thereof for cancellation, together with a written instrument of transfer in form approved by the registrar duly executed by the registered owner or by his or her duly authorized attorney, at the office or agency of the Company in the Borough of Manhattan, The City of New York, New York.
Upon any such exchange or transfer of Bonds of the Twenty-eighth Series, the Company may make a charge therefor sufficient to reimburse it for any tax or taxes or other governmental charge, as provided in Section 2.05 of the Original Indenture, but the Company hereby waives any right to make a charge in addition thereto for any such exchange or transfer of Bonds of the Twenty-eighth Series.
Section 3.04    Dating of Bonds and Interest Payments. (a) Each Bond of the Twenty-eighth Series shall be dated as of the date of authentication and shall bear interest from the last preceding interest payment date to which interest shall have been paid (unless the date of such bond is an interest payment date to which interest is paid, in which case from the date of such bond); provided that each Bond of the Twenty-eighth Series dated prior to May 19, 2022 shall bear interest from the date of original issuance thereof; and provided, further, that if any Bond of the Twenty-eighth Series shall be authenticated and delivered upon a transfer of, or in exchange for or in lieu of, any other Bond or Bonds of the Twenty-eighth Series upon which interest is in default, it shall be dated so that such bond shall bear interest from the last preceding date to which interest shall have been paid on the bond or bonds in respect of which such bond shall have been delivered or from its date of original issuance, if no interest shall have been paid on the Bonds of the Twenty-eighth Series.
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(b) Notwithstanding the foregoing, Bonds of the Twenty-eighth Series shall be dated so that the person in whose name any Bond of the Twenty-eighth Series is registered at the close of business on the Business Day immediately preceding an interest payment date shall be entitled to receive the interest payable on the interest payment date notwithstanding the cancellation of such bond upon any transfer or exchange thereof subsequent to such close of business and prior to such interest payment date, except if, and to the extent that, the Company shall default in the payment of interest due on such interest payment date, in which case such defaulted interest shall be paid to the persons in whose names Outstanding Bonds of the Twenty-eighth Series are registered at the close of business on the Business Day immediately preceding the date of payment of such defaulted interest. Any Bond of the Twenty-eighth Series issued upon any transfer or exchange subsequent to such close of business and prior to such interest payment date shall bear interest from such interest payment date. In the event there shall be more than one registered owner of Bonds of the Twenty-eighth Series, then the Company shall not be required to make transfers or exchanges of bonds of said series for a period of fifteen (15) days immediately preceding any interest payment date of said series.
ARTICLE IV
OTHER PROVISIONS FOR RETIREMENT OF BONDS
Section 4.01    Exchange or Redemption upon Merger or Consolidation. The second sentence of subsection (a) of Section 3.04 of the First Supplemental Indenture, as amended and restated by the Seventh Supplemental Indenture, and as subsequently amended, is hereby further amended to insert the following words immediately after the words “the Twenty-third Supplemental Indenture”: 
“, shall (as to the New LP&L Bonds being exchanged for the Bonds of the Twenty-seventh Series or the Bonds of the Twenty-eighth Series, as the case may be) be subject to redemption at the option of the Company on terms similar to those provided in the Twenty-fourth Supplemental Indenture,"
Section 4.02    Redemption Price upon Merger or Consolidation. The redemption price for any Bonds of the Twenty-seventh Series and any Bonds of the Twenty-eighth Series redeemed pursuant to subsection (b) of Section 3.04 of the First Supplemental Indenture, as amended and restated by the Seventh Supplemental Indenture, and as subsequently amended, shall be equal to 100% of the principal amount of the Bonds of the Twenty-seventh Series or the principal amount of the Bonds of the Twenty-eighth Series, as the case may be, to be redeemed, plus accrued and unpaid interest thereon to the redemption date. 
ARTICLE V 
COVENANTS
Section 5.01    Maintenance of Paying Agency. So long as any Bonds of the Twenty-seventh Series or any Bonds of the Twenty-eighth Series are Outstanding, the Company covenants that the office or agency of the Company in the Borough of Manhattan, The City of New York, New York, where the principal of or interest on any Bonds of the Twenty-seventh Series or any Bonds of the Twenty-eighth Series shall be payable, shall also be an office or agency where any such bonds may be transferred or exchanged and where notices, presentations or demands to or upon the Company in respect of such bonds or in respect of the Indenture may be given or made.
Section 5.02    Further Assurances. From time to time whenever reasonably requested by the Trustee or the holders of a majority in principal amount of Bonds of the Twenty-seventh Series or Bonds of the Twenty-eighth Series, as the case may be, then Outstanding, the Company will make, execute and deliver or cause to be made, executed and delivered any and all such further and other instruments and assurances as may be reasonably necessary or proper to carry 
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out the intention of or to facilitate the performance of the terms of the Indenture or to secure the rights and remedies of the holders of such Bonds. 
ARTICLE VI
AMENDMENTS
Section 6.01    Conveyance of All or Substantially All Mortgaged and Pledged Property.
The holders of all of the bonds Outstanding under the Indenture having consented to the amendments set forth in Section 5.05 of Article V of the Sixteenth Supplemental Indenture, the Company hereby exercises its right to amend Section 15.02 of the Indenture to add a new paragraph at the end reading as follows: 
“In case the Company, as permitted by Section 15.01 hereof, shall convey or transfer, subject to the Lien of this Indenture, all or substantially all of the Mortgaged and Pledged Property as an entirety to a successor corporation, the indenture described above in this Section may also provide for the release and discharge of the Company from all obligations under this Indenture or any bonds issued hereunder which are assumed by such successor corporation.”
Section 6.02    Amendments Without Consent of Holders.
The holders of all of the bonds Outstanding under the Indenture having consented to the amendments set forth in Section 5.06 of Article V of the Sixteenth Supplemental Indenture, the Company hereby exercises its right to amend Section 19.04 of the Indenture to read as follows:
“Section 19.04.  Anything in this Indenture to the contrary notwithstanding, without the consent of any holders of bonds, the Company and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes:
(a) to evidence the succession of another corporation to the Company and the assumption by any such successor of the covenants of the Company herein and in the bonds, all as provided in Article XV hereof; or
(b) to add one or more covenants of the Company or other provisions for the benefit of all holders of the bonds or for the benefit of the holders of, or to remain in effect only so long as there shall be Outstanding, bonds of one or more specified series, and to make the occurrence of a default in the performance of any of such additional covenants an additional “Default” under Section 12.01 permitting the enforcement of all or any of the several remedies provided in this Indenture, as herein set forth; provided, however, that in respect of any such additional covenant, such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than those allowed in the case of other defaults) or may provide for an immediate enforcement upon such default, or may (subject to the provisions of applicable law) limit the remedies available to the Trustee upon such default; or to provide that the occurrence of one or more specified events shall constitute additional “Defaults” under Section 12.01 as if set forth therein, or to surrender any right or power herein conferred upon the Company, which additional “Default” or surrender may be limited so as to remain in effect only so long as bonds of one or more specified series shall remain Outstanding; or
(c) to correct or amplify the description of any property at any time subject to the Lien of this Indenture, or better to assure, convey and confirm unto the Trustee any property subject or required to be subjected to the Lien of this Indenture, or to subject to the Lien of this Indenture additional property; or
(d) to change or eliminate any provision of this Indenture or to add any new provision to this Indenture; provided, however, that no such change, elimination or addition shall adversely affect the interests of the holders of bonds of any series in any material respect; or
(e) to establish the form or terms of bonds of any series as contemplated by Article II; or
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(f) to provide for the procedures required to permit the Company to utilize, at its option, a non-certificated system of registration for all or any series of bonds; or
(g) to change any place or places (within the United States of America) where (1) the principal of and premium, if any, and interest, if any, on all or any series of bonds shall be payable, (2) all or any series of bonds may be surrendered for registration of transfer, (3) all or any series of bonds may be surrendered for exchange and (4) notices and demands to or upon the Company in respect of all or any series of bonds and this Indenture may be served; or
(h) to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other provision herein; or to make any other changes to the provisions hereof or to add other provisions with respect to matters or questions arising under this Indenture, provided that such other changes or additions shall not adversely affect the interests of the holders of bonds of any series in any material respect.
Without limiting the generality of the foregoing, if the Trust Indenture Act of 1939, as in effect at any time and from time to time,
(x) shall require one or more changes to any provisions hereof or the inclusion herein of any additional provisions, or shall by operation of law be deemed to effect such changes or incorporate such provisions by reference or otherwise, this Indenture shall be deemed to have been amended so as to conform to the Trust Indenture Act of 1939 as then in effect, and the Company and the Trustee may, without the consent of any holders of bonds, enter into an indenture supplemental hereto to evidence such amendment hereof; or
(y) shall permit one or more changes to, or the elimination of, any provisions hereof which shall theretofore have been required by the Trust Indenture Act of 1939 to be contained herein or are contained herein to reflect any provisions of the Trust Indenture Act of 1939, this Indenture shall be deemed to have been amended to effect such changes or elimination, and the Company and the Trustee may, without the consent of any holders of bonds, enter into an indenture supplemental hereto to evidence such amendment hereof.”
Section 6.03    Amendments to Section 1.04(II)(B)(b) of the Indenture.  
Subsection (b) of Section 1.04 (II) (B) of Article I of the Indenture, as heretofore supplemented, is hereby modified to replace the words “Section 5.01” therein with the words “Section 6.01.”
Section 6.04    Effective Date.  
Each of the amendments set forth in Sections 6.01 through 6.03 of this Article VI shall be effective as of November 1, 2021.  The Indenture, as heretofore supplemented, shall be deemed amended and modified to the extent necessary to give effect to the foregoing. Except as amended and modified hereby, the Indenture, as heretofore supplemented, shall remain in full force and effect.
ARTICLE VII
CONSENT TO AMENDMENTS
Section 7.01    Consent to Amendments.
Each initial and future holder of Bonds of the Twenty-seventh Series and Bonds of the Twenty-eighth Series, by its acquisition of an interest in such bonds, irrevocably (a) consents to the amendments set forth in (i) Article V, Sections 5.05 and 5.06 of the Sixteenth Supplemental Indenture, and Article III, Sections 3.01 through 3.10 of the Twenty-first Supplemental Indenture, in each case without any other or further action by any holder of such bonds, and (b) designates the Trustee, and its successors, as its proxy with irrevocable instructions to vote and deliver written consents on behalf of such holder in favor of such amendments at any bondholder meeting, in lieu of any bondholder meeting, in any consent solicitation or otherwise.
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ARTICLE VIII
MISCELLANEOUS PROVISIONS
Section 8.01    Acceptance of Trusts. The Trustee hereby accepts the trusts herein declared, provided, created or supplemented and agrees to perform the same upon the terms and conditions herein and in the Original Indenture, as heretofore supplemented, set forth and upon the following terms and conditions: 
The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Twenty-fourth Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are solely made by the Company. In general, each and every term and condition contained in Article XVI of the Original Indenture shall apply to and form part of this Twenty-fourth Supplemental Indenture with the same force and effect as if the same were herein set forth in full with such omissions, variations and insertions, if any, as may be appropriate to make the same conform to the provisions of this Twenty-fourth Supplemental Indenture.
Section 8.02    Effect of Twenty-fourth Supplemental Indenture under Louisiana Law. It is the intention and it is hereby agreed that so far as concerns that portion of the Mortgaged and Pledged Property situated within the State of Louisiana, the general language of conveyance contained in this Twenty-fourth Supplemental Indenture is intended and shall be construed as words of hypothecation and not of conveyance, and that so far as the said Louisiana property is concerned, this Twenty-fourth Supplemental Indenture shall be considered as an act of mortgage and pledge and granting of a security interest under the laws of the State of Louisiana, and the Trustee herein named is named as mortgagee and pledgee and secured party in trust for the benefit of itself and of all present and future holders of bonds issued under the Indenture and any coupons thereto issued hereunder, and is irrevocably appointed special agent and representative of the holders of such bonds and coupons and vested with full power in their behalf to effect and enforce the mortgage and pledge and a security interest hereby constituted for their benefit, or otherwise to act as herein provided for.
Section 8.03    Record Date. The holders of the Bonds of the Twenty-seventh Series and the Bonds of the Twenty-eighth Series shall be deemed to have consented and agreed that the Company may, but shall not be obligated to, fix a record date for the purpose of determining the holders of the Bonds of the Twenty-seventh Series and the Bonds of the Twenty-eighth Series entitled to consent, if any such consent is required, to any amendment or supplement to the Indenture or the waiver of any provision thereof or any act to be performed thereunder. If a record date is fixed, those persons who were holders of the Bonds of the Twenty-seventh Series and the Bonds of the Twenty-eighth Series at such record date (or their duly designated proxies), and only those persons, shall be entitled to consent to such amendment, supplement or waiver or to revoke any consent previously given, whether or not such persons continue to be holders of the Bonds of the Twenty-seventh Series and the Bonds of the Twenty-eighth Series after such record date. No such consent shall be valid or effective for more than 90 days after such record date. 
Section 8.04    Titles. The titles of the several Articles and Sections of this Twenty-fourth Supplemental Indenture shall not be deemed to be any part hereof.
Section 8.05    Counterparts. This Twenty-fourth Supplemental Indenture may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.
Section 8.06    Governing Law. The laws of the State of New York shall govern this Twenty-fourth Supplemental Indenture, the Bonds of the Twenty-seventh Series and the Bonds 
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of the Twenty-eighth Series, except to the extent that the validity or perfection of the Lien of the Indenture, or remedies thereunder, are governed by the laws of a jurisdiction other than the State of New York.

ARTICLE IX
SPECIFIC DESCRIPTION OF PROPERTY
PARAGRAPH ONE
The Electric Generating Plants, Plant Sites and Stations of the Original Company, including all electric works, power houses, buildings, pipelines and structures owned by the Original Company and all land of the Original Company on which the same are situated and all of the Original Company’s lands, together with the buildings and improvements thereon, and all rights, ways, servitudes, prescriptions, and easements, rights-of-way, permits, privileges, licenses, poles, wires, machinery, implements, switchyards, electric lines, equipment and appurtenances, forming a part of said plants, sites or stations, or any of them, or used or enjoyed, or capable of being used or enjoyed in conjunction with any of said power plants, sites, stations, lands and property.
PARAGRAPH TWO
The Electric Substations, Switching Stations, Microwave installations and UHF-VHF installations of the Original Company, and the Sites therefor, including all buildings, structures, towers, poles, all equipment, appliances and devices for transforming, converting, switching, transmitting and distributing electric energy, and for communications, and the lands of the Original Company on which the same are situated, and all of the Original Company’s lands, rights, ways, servitudes, prescriptions, easements, rights-of-way, machinery, equipment, appliances, devices, licenses and appurtenances forming a part of said substations, switching stations, microwave installations or UHF-VHF installations, or any of them, or used or enjoyed or capable of being used or enjoyed in conjunction with any of them. 
PARAGRAPH THREE
All and singular the Miscellaneous Lands and Real Estate or Rights and Interests therein of the Original Company, and buildings and improvements thereon, now owned, or, subject to the provisions of Section 15.03 of the Original Indenture, hereafter acquired during the existence of this trust.
PARAGRAPH FOUR
The Electric Transmission Lines of the Original Company, including the structures, towers, poles, wires, cables, switch racks, conductors, transformers, insulators, pipes, conduits, electric submarine cables, and all appliances, devices and equipment used or useful in connection with said transmission lines and systems, and all other property, real, personal or mixed, forming a part thereof or appertaining thereto, together with all rights-of-way, easements, prescriptions, servitudes, permits, privileges, licenses, consents, immunities and rights for or relating to the construction, maintenance or operation thereof, through, over, across, under or upon any public streets or highways or other lands, public or private.
PARAGRAPH FIVE
The Electric Distribution Lines and Systems of the Original Company, including the structures, towers, poles, wires, insulators and appurtenances, appliances, conductors, conduits, cables, transformers, meters, regulator stations and regulators, accessories, devices and equipment and all of the Original Company's other property, real, personal or mixed, forming a part of or used, occupied or enjoyed in connection with or in anywise appertaining to said distribution lines and systems, together with all of the Original Company’s rights-of-way, easements, permits, prescriptions, privileges, municipal or other franchises, licenses, consents, 
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immunities and rights for or relating to the construction, maintenance or operation thereof, through, over, across, under, or upon any public streets or highways or other lands or property, public or private.
PARAGRAPH SIX
The Gas Distributing Systems of the Original Company, whether now owned or, subject to the provisions of Section 15.03 of the Original Indenture, hereafter acquired, including gas regulator stations, gas main crossings, odorizing equipment, gas metering stations, shops, service buildings, office buildings, expansion tanks, conduits, gas mains and pipes, mechanical storage sheds, boilers, service pipes, fittings, city gates, pipelines, booster stations, reducer stations, valves, valve platforms, connections, meters and all appurtenances, appliances, devices and equipment and all the Original Company's other property, real, personal or mixed forming a part of or used, occupied or enjoyed in connection with or in anywise appertaining to said distributing systems, or any of them, together with all of the Original Company’s rights-of-way, easements, prescriptions, servitudes, privileges, immunities, permits and franchises, licenses, consents and rights for or relating to the construction, maintenance or operation thereof, in, on, through, across or under any public streets or highways or other lands or property, public or private.
PARAGRAPH SEVEN
All of the franchises, privileges, permits, grants and consents for the construction, operation and maintenance of electric and gas systems in, on and under streets, alleys, highways, roads, public grounds and rights-of-way and all rights incident thereto which were granted to the Original Company or its predecessors by the governing and regulatory bodies of the City of New Orleans, State of Louisiana.
Also all other franchises, privileges, permits, grants and consents owned by the Original Company for the construction, operation and maintenance of electric and gas systems in, on or under the streets, alleys, highways, roads, and public grounds, areas and rights-of-way and/or for the supply and sale of electricity or natural gas and all rights incident thereto, subject, however, to the provisions of Section 15.03 of the Original Indenture.
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IN WITNESS WHEREOF, ENTERGY NEW ORLEANS, LLC has caused its company name to be hereunto affixed, and this instrument to be signed by its President, one of its Vice Presidents, its Treasurer or one of its Assistant Treasurers, for and on its behalf, and THE BANK OF NEW YORK MELLON has caused its corporate name to be hereunto affixed, and this instrument to be signed by one of its Vice Presidents, Senior Associates or Associates, all as of the day and year first above written.
						
		ENTERGY NEW ORLEANS, LLC

	By:	/s/ Kevin J. Marino
		Name: Kevin J. Marino
Title: Assistant Treasurer

		

						
	Executed and delivered by
ENTERGY NEW ORLEANS, LLC
in the presence of:	
		
	By: /s/ Shannon Ryerson	
	Name: Shannon Ryerson	

		
	By: /s/ Leah Dawsey	
	Name: Leah Dawsey	

 
    S-1
			
	

									
		THE BANK OF NEW YORK MELLON,
		as Trustee
	By:	/s/ David J. O’Brien	
		Name: David J. O’Brien	
		Title:    Vice President	
		

						
	Executed and delivered by
THE BANK OF NEW YORK MELLON
in the presence of:	
		
	By: /s/ Paul Catania	
	Name: Paul Catania	

		
	By: /s/ Jacqueline M. Kuhn	
	Name: Jacqueline M. Kuhn	

    S-2
			
	

STATE OF LOUISIANA    )
                                             ) SS.:
PARISH OF ORLEANS     )
On this 15th day of November, 2021, before me appeared KEVIN J. MARINO, to me personally known, who, being duly sworn, did say that he is an Assistant Treasurer of ENTERGY NEW ORLEANS, LLC, and that the above instrument was signed on behalf of said entity by authority of its Board of Directors, and said KEVIN J. MARINO acknowledged said instrument to be the free act and deed of said entity.

/s/ Dawn A. Balash             
Dawn A. Balash
State of Louisiana, Parish of Orleans
Notary Public Identification No. 140967
My commission expires at my death

    S-3
			
	

STATE OF NEW JERSEY    )
    ) ss.:
COUNTY OF PASSAIC    )
On this 16th day of November, 2021, before me appeared David J. O’Brien to me personally known or proved to me on the basis of satisfactory evidence and, who, being by me duly sworn, did say that he is a Vice President of THE BANK OF NEW YORK MELLON, and that the above instrument was signed on behalf of said entity by authority of its Board of Directors, and said Vice President acknowledged said instrument to be the free act and deed of said entity.
/s/ Brett J. Anderson                
Brett J. Anderson 
Notary Public – State of New Jersey
My Commission Expires Jan 23, 2024

    S-4
			
	

EXHIBIT A
[FORM OF BOND OF THE TWENTY-SEVENTH SERIES]

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. EACH TRANSFEREE OF THIS SECURITY, BY ACCEPTANCE OF THIS SECURITY REGISTERED IN ITS NAME (OR THE NAME OF ITS NOMINEE) WILL BE DEEMED TO HAVE MADE CERTAIN REPRESENTATIONS SET FORTH IN THE FIRST MORTGAGE BOND PURCHASE AGREEMENT PURSUANT TO WHICH THIS SECURITY WAS ISSUED. 

FIRST MORTGAGE BOND,
4.19% Series due November 19, 2031
PPN 29365@[●]
No. R-__                                        $___________
ENTERGY NEW ORLEANS, LLC, a limited liability company duly organized and existing under the laws of the State of Texas (the “Company”), for value received, hereby promises to pay to ___________ or registered assigns, at the office or agency of the Company in The City of New York, New York, the principal sum of _____________ ($___________) on November 19, 2031, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts, and to pay in like manner to the registered owner hereof interest thereon from the date of original issuance hereof, if the date of this bond is prior to May 19, 2022, or, if the date of this bond is on or after May 19, 2022, from the May 19 or November 19 immediately preceding the date of this bond to which interest has been paid (unless the date hereof is an interest payment date to which interest has been paid, in which case from the date hereof), at the rate of four and nineteen one-hundredths percent (4.19%) per annum in like coin or currency on May 19 or November 19 of each year, commencing May 19, 2022, and at maturity or earlier redemption until the principal of this bond shall have become due and been duly paid or provided for, and to pay interest (before and after judgment) on any overdue principal, premium, if any, and (to the extent permitted by law) on any overdue interest at the rate of five and nineteen one-hundredths percent (5.19%) per annum. Interest on this bond shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Interest on this bond in respect of a portion of a month shall be calculated based on the actual number of days elapsed using a 30-day month.
The interest so payable on any interest payment date will, subject to certain exceptions provided in the Mortgage hereinafter referred to, be paid to the person in whose name this bond is registered at the close of business on the fifteenth day immediately preceding such interest payment date. Unless otherwise agreed between the Company and the registered owner of this bond, at the option of the Company, interest may be paid by check mailed on or prior to such interest payment date to the address of the person entitled thereto as such address shall appear on the register of the Company.
This bond shall not become obligatory until The Bank of New York Mellon, the Trustee under the Mortgage, or its successor thereunder, shall have signed the form of authentication certificate endorsed hereon.
    A-1
			
	

This bond is one of a series of bonds of the Company issuable in series and is one of a duly authorized series of First Mortgage Bonds, 4.19% Series due November 19, 2031 (herein called Bonds of the Twenty-seventh Series), all bonds of all series issued under and equally secured by a Mortgage and Deed of Trust (herein, together with any indenture supplemental thereto including the Twenty-fourth Supplemental Indenture dated as of November 1, 2021, called the Mortgage), dated as of May 1, 1987, duly executed by the Company to The Bank of New York Mellon (successor to Bank of Montreal Trust Company), as Trustee. Reference is made to the Mortgage for a description of the mortgaged and pledged property, assets and rights, the nature and extent of the lien and security, the respective rights, limitations of rights, covenants, obligations, duties and immunities thereunder of the Company, the holders of bonds and the Trustee and the terms and conditions upon which the bonds are, and are to be, secured, the circumstances under which additional bonds may be issued and the definition of certain terms herein used, to all of which, by its acceptance of this bond, the holder of this bond agrees.
The principal hereof may be declared or may become due prior to the maturity date hereinbefore named on the conditions, in the manner and at the time set forth in the Mortgage, upon the occurrence of a Default as in the Mortgage provided. The Mortgage provides that in certain circumstances and upon certain conditions, such a declaration and its consequences or certain past defaults and the consequences thereof may be waived by such affirmative vote of holders of bonds as is specified in the Mortgage.
The Mortgage contains provisions permitting the Company and the Trustee to execute supplemental indentures amending the Mortgage for certain specified purposes without the consent of holders of bonds. With the consent of the Company and to the extent permitted by and as provided in the Mortgage, the rights and obligations of the Company and/or the rights of the holders of the Bonds of the Twenty-seventh Series and/or the terms and provisions of the Mortgage may be modified or altered by such affirmative vote or votes of the holders of bonds then Outstanding as are specified in the Mortgage.
Each holder of this bond, by its acquisition of an interest in this bond, irrevocably (a) consents to the amendments set forth in (i) Article V, Sections 5.05 and 5.06 of the Sixteenth Supplemental Indenture, and (ii) Article III, Sections 3.01 through 3.10 of the Twenty-first Supplemental Indenture, in each case without any other or further action by the holder of this bond, and (b) designates the Trustee, and its successors, as its proxy with irrevocable instructions to vote and deliver written consents on behalf of such holder in favor of such amendments at any bondholder meeting, in lieu of any bondholder meeting, in any consent solicitation or otherwise.
Any consent or waiver by the holder of this bond (unless effectively revoked as provided in the Mortgage) shall be conclusive and binding upon such holder and upon all future holders of this bond and of any bonds issued in exchange or substitution herefor, irrespective of whether or not any notation of such consent or waiver is made upon this bond or such other bond.
In case the Company, as permitted by the Mortgage, shall convey or transfer, subject to the lien of the Mortgage, all or substantially all of the mortgaged and pledged property as an entirety to a successor, the Company may be released and discharged from all obligations under the bonds of this series which are assumed by such successor.
The bonds are issuable as registered bonds without coupons in the denominations of $100,000 and in any integral multiple of $1,000 in excess thereof. At the office or agency to be maintained by the Company in The City of New York, New York, and in the manner and subject to the provisions of the Mortgage, bonds may be exchanged for a like aggregate principal amount of bonds of other authorized denominations, without payment of any charge other than a sum sufficient to reimburse the Company for any tax or other governmental charge incident thereto. This bond is transferable as prescribed in the Mortgage by the registered owner hereof in person, or by his or her duly authorized attorney, at the office or agency of the Company in The City of New York, New York, upon surrender of this bond, and upon payment, if the Company shall require it, of the transfer charges provided for in the Mortgage, and, thereupon, a new fully 
    A-2
			
	

registered bond of the same series for a like principal amount will be issued to the transferee in exchange hereof as provided in the Mortgage. The Company and the Trustee may deem and treat the person in whose name this bond is registered as the absolute owner hereof for the purpose of receiving payment and for all other purposes, and neither the Company nor the Trustee shall be affected by any notice to the contrary.
This bond is redeemable at the option of the Company under certain circumstances in the manner and at such redemption price as is provided in the Twenty-fourth Supplemental Indenture. This bond is also redeemable at the option of the owner upon the events, in the manner, and at such redemption prices as are specified in the Twenty-fourth Supplemental Indenture. This bond is also mandatorily redeemable under certain circumstances in the manner and at such redemption price as is provided in the Twenty-fourth Supplemental Indenture.
No recourse shall be had for the payment of the principal of or interest on this bond against any incorporator or any past, present or future subscriber to the capital stock, stockholder, officer or director of the Company or of any predecessor or successor corporation, as such, either directly or through the Company or any predecessor or successor corporation, under any rule of law, statute or constitution or by the enforcement of any assessment or otherwise, all such liability of incorporators, subscribers, stockholders, officers and directors being released by the holder or owner hereof by the acceptance of this bond and being likewise waived and released by the terms of the Mortgage.
As provided in the Mortgage, this bond shall be governed by and construed in accordance with the laws of the State of New York.

    A-3
			
	

IN WITNESS WHEREOF, Entergy New Orleans, LLC has caused this bond to be signed in its company name by its Chairman of the Board, Chief Executive Officer, President or one of its Vice Presidents by his or her signature or a facsimile thereof, and its company seal to be impressed or imprinted hereon and attested by its Secretary or one of its Assistant Secretaries by his or her signature or a facsimile thereof.
Dated: 
ENTERGY NEW ORLEANS, LLC
By:__________________________ 
    Name:    
    Title:    
 
Attest:
By:____________________ 
    Name:    
    Title:    
[FORM OF TRUSTEE'S AUTHENTICATION CERTIFICATE]
This bond is one of the bonds, of the series herein designated, described or provided for in the within-mentioned mortgage.
Dated: 
THE BANK OF NEW YORK MELLON,
as Trustee,

By:______________________________ 
    Authorized Signatory
    A-4
			
	

EXHIBIT B
[FORM OF BOND OF THE TWENTY-EIGHTH SERIES]

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. EACH TRANSFEREE OF THIS SECURITY, BY ACCEPTANCE OF THIS SECURITY REGISTERED IN ITS NAME (OR THE NAME OF ITS NOMINEE) WILL BE DEEMED TO HAVE MADE CERTAIN REPRESENTATIONS SET FORTH IN THE FIRST MORTGAGE BOND PURCHASE AGREEMENT PURSUANT TO WHICH THIS SECURITY WAS ISSUED. 

FIRST MORTGAGE BOND,
4.51% Series due November 19, 2036
PPN 29365@[•]
No. R-__                                        $___________
ENTERGY NEW ORLEANS, LLC, a limited liability company duly organized and existing under the laws of the State of Texas (the “Company”), for value received, hereby promises to pay to ___________ or registered assigns, at the office or agency of the Company in The City of New York, New York, the principal sum of _____________ ($___________) on November 19, 2036, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts, and to pay in like manner to the registered owner hereof interest thereon from the date of original issuance hereof, if the date of this bond is prior to May 19, 2022, or, if the date of this bond is on or after May 19, 2022, from the May 19  or November 19 immediately preceding the date of this bond to which interest has been paid (unless the date hereof is an interest payment date to which interest has been paid, in which case from the date hereof), at the rate of four and fifty-one one-hundredths percent (4.51%) per annum in like coin or currency on May 19 or November 19 of each year, commencing May 19, 2022, and at maturity or earlier redemption until the principal of this bond shall have become due and been duly paid or provided for, and to pay interest (before and after judgment) on any overdue principal, premium, if any, and (to the extent permitted by law) on any overdue interest at the rate of five and fifty-one one-hundredths percent (5.51%) per annum. Interest on this bond shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Interest on this bond in respect of a portion of a month shall be calculated based on the actual number of days elapsed using a 30-day month.
The interest so payable on any interest payment date will, subject to certain exceptions provided in the Mortgage hereinafter referred to, be paid to the person in whose name this bond is registered at the close of business on the fifteenth day immediately preceding such interest payment date. Unless otherwise agreed between the Company and the registered owner of this bond, at the option of the Company, interest may be paid by check mailed on or prior to such interest payment date to the address of the person entitled thereto as such address shall appear on the register of the Company.
This bond shall not become obligatory until The Bank of New York Mellon, the Trustee under the Mortgage, or its successor thereunder, shall have signed the form of authentication certificate endorsed hereon.
B-1

This bond is one of a series of bonds of the Company issuable in series and is one of a duly authorized series of First Mortgage Bonds, 4.51% Series due November 19, 2036 (herein called Bonds of the Twenty-eighth Series), all bonds of all series issued under and equally secured by a Mortgage and Deed of Trust (herein, together with any indenture supplemental thereto including the Twenty-fourth Supplemental Indenture dated as of November 1, 2021, called the Mortgage), dated as of May 1, 1987, duly executed by the Company to The Bank of New York Mellon (successor to Bank of Montreal Trust Company), as Trustee. Reference is made to the Mortgage for a description of the mortgaged and pledged property, assets and rights, the nature and extent of the lien and security, the respective rights, limitations of rights, covenants, obligations, duties and immunities thereunder of the Company, the holders of bonds and the Trustee and the terms and conditions upon which the bonds are, and are to be, secured, the circumstances under which additional bonds may be issued and the definition of certain terms herein used, to all of which, by its acceptance of this bond, the holder of this bond agrees.
The principal hereof may be declared or may become due prior to the maturity date hereinbefore named on the conditions, in the manner and at the time set forth in the Mortgage, upon the occurrence of a Default as in the Mortgage provided. The Mortgage provides that in certain circumstances and upon certain conditions, such a declaration and its consequences or certain past defaults and the consequences thereof may be waived by such affirmative vote of holders of bonds as is specified in the Mortgage.
The Mortgage contains provisions permitting the Company and the Trustee to execute supplemental indentures amending the Mortgage for certain specified purposes without the consent of holders of bonds. With the consent of the Company and to the extent permitted by and as provided in the Mortgage, the rights and obligations of the Company and/or the rights of the holders of the Bonds of the Twenty-eighth Series and/or the terms and provisions of the Mortgage may be modified or altered by such affirmative vote or votes of the holders of bonds then Outstanding as are specified in the Mortgage.
Each holder of this bond, by its acquisition of an interest in this bond, irrevocably (a) consents to the amendments set forth in (i) Article V, Sections 5.05 and 5.06 of the Sixteenth Supplemental Indenture, and (ii) Article III, Sections 3.01 through 3.10 of the Twenty-first Supplemental Indenture, in each case without any other or further action by the holder of this bond, and (b) designates the Trustee, and its successors, as its proxy with irrevocable instructions to vote and deliver written consents on behalf of such holder in favor of such amendments at any bondholder meeting, in lieu of any bondholder meeting, in any consent solicitation or otherwise.
Any consent or waiver by the holder of this bond (unless effectively revoked as provided in the Mortgage) shall be conclusive and binding upon such holder and upon all future holders of this bond and of any bonds issued in exchange or substitution herefor, irrespective of whether or not any notation of such consent or waiver is made upon this bond or such other bond.
In case the Company, as permitted by the Mortgage, shall convey or transfer, subject to the lien of the Mortgage, all or substantially all of the mortgaged and pledged property as an entirety to a successor, the Company may be released and discharged from all obligations under the bonds of this series which are assumed by such successor.
The bonds are issuable as registered bonds without coupons in the denominations of $100,000 and in any integral multiple of $1,000 in excess thereof. At the office or agency to be maintained by the Company in The City of New York, New York, and in the manner and subject to the provisions of the Mortgage, bonds may be exchanged for a like aggregate principal amount of bonds of other authorized denominations, without payment of any charge other than a sum sufficient to reimburse the Company for any tax or other governmental charge incident thereto. This bond is transferable as prescribed in the Mortgage by the registered owner hereof in person, or by his or her duly authorized attorney, at the office or agency of the Company in The City of New York, New York, upon surrender of this bond, and upon payment, if the Company shall require it, of the transfer charges provided for in the Mortgage, and, thereupon, a new fully 
B-2

registered bond of the same series for a like principal amount will be issued to the transferee in exchange hereof as provided in the Mortgage. The Company and the Trustee may deem and treat the person in whose name this bond is registered as the absolute owner hereof for the purpose of receiving payment and for all other purposes, and neither the Company nor the Trustee shall be affected by any notice to the contrary.
This bond is redeemable at the option of the Company under certain circumstances in the manner and at such redemption price as is provided in the Twenty-fourth Supplemental Indenture. This bond is also redeemable at the option of the owner upon the events, in the manner, and at such redemption prices as are specified in the Twenty-fourth Supplemental Indenture. This bond is also mandatorily redeemable under certain circumstances in the manner and at such redemption price as is provided in the Twenty-fourth Supplemental Indenture.
No recourse shall be had for the payment of the principal of or interest on this bond against any incorporator or any past, present or future subscriber to the capital stock, stockholder, officer or director of the Company or of any predecessor or successor corporation, as such, either directly or through the Company or any predecessor or successor corporation, under any rule of law, statute or constitution or by the enforcement of any assessment or otherwise, all such liability of incorporators, subscribers, stockholders, officers and directors being released by the holder or owner hereof by the acceptance of this bond and being likewise waived and released by the terms of the Mortgage.
As provided in the Mortgage, this bond shall be governed by and construed in accordance with the laws of the State of New York.
B-3

IN WITNESS WHEREOF, Entergy New Orleans, LLC has caused this bond to be signed in its company name by its Chairman of the Board, Chief Executive Officer, President or one of its Vice Presidents by his or her signature or a facsimile thereof, and its company seal to be impressed or imprinted hereon and attested by its Secretary or one of its Assistant Secretaries by his or her signature or a facsimile thereof.
Dated: 
ENTERGY NEW ORLEANS, LLC
By:__________________________ 
    Name:    
    Title:    
 
Attest:
By:____________________ 
    Name:    
    Title:    
[FORM OF TRUSTEE'S AUTHENTICATION CERTIFICATE]
This bond is one of the bonds, of the series herein designated, described or provided for in the within-mentioned mortgage.
Dated: 
THE BANK OF NEW YORK MELLON,
as Trustee,

By:______________________________ 
    Authorized Signatory

 
    B-5

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