Document:

exv4w2

Exhibit 4.2

Form of Note

This Security is a Global Security within the meaning of the Indenture hereinafter referred to
and is registered in the name of a Depositary or a nominee of a Depositary. This Security is
exchangeable for Securities registered in the name of a person other than the Depositary or its
nominee only in the limited circumstances described in the Indenture and may not be transferred
except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the
Depositary to the Depositary or another nominee of the Depositary.

 

 

Form of Note

MEDCO HEALTH SOLUTIONS, INC.

4.125% Notes due 2020

	 	 	 

	No. [      ]
	 	 
	CUSIP No. 58405U AG7

	 	$                    

     MEDCO HEALTH SOLUTIONS, INC., a corporation duly organized and existing under the laws of
Delaware (herein called the “Company,” which term includes any successor corporation under the
Indenture hereinafter referred to), for value received, hereby promises to pay to, or registered
assigns, the principal sum of                                           DOLLARS ($                    ) on September 15,
2020, and to pay interest thereon from September 10, 2010, semi-annually on March 15 and September
15 in each year, commencing March 15, 2011, at the rate of 4.125% per annum, until the principal
hereof is paid or made available for payment. Interest on this Security shall be calculated on a
pro rata basis using twelve 30-day months and a 360-day year. The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date will, as provided in such
Indenture, be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest,
which shall be the March 1 or September 1 (whether or not a Business Day), as the case may be, next
preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for
will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest to be
fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not
less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful
manner not inconsistent with the requirements of any securities exchange on which the Securities of
this series may be listed, and upon such notice as may be required by such exchange, all as more
fully provided in said Indenture.

     Payment of the principal of and interest on this Security shall be payable at the Corporate
Trust Office of U.S. Bank Trust National Association, located at 100 Wall Street, Suite 1600, New
York, NY 10005 or at such other office or agency of the Company maintained for that purpose in New
York, NY, in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts; provided, however, that at
the option of the Company, interest may be paid by check mailed to the address of the person
entitled thereto as such address shall appear on the Security Register or by transfer to an account
maintained by the payee with a bank located in the United States; and, provided,
further, that so long as this Security is registered in the name of DTC or its nominee,
principal and interest payments will be paid to DTC or its nominee, as the Holder, by wire transfer
in same-day funds.

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     For purposes of the Indenture, “Business Day” means each Monday, Tuesday, Wednesday, Thursday
and Friday that is not a day on which banking institutions in New York City are authorized or
obligated by law or executive order to close.

     Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

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

     The Indenture and the Securities shall be governed by and construed in accordance with the
laws of the State of New York.

     All terms used in this Security that are defined in the Indenture shall have the meaning
assigned to them in the Indenture.

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     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.

Dated:                     , 2010

	 	 	 	 	 
	 	MEDCO HEALTH SOLUTIONS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	Attest:

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 

 

 

	 	 	 	 	 

Dated:                     , 2010

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Securities of the series designated therein referred to in the within-mentioned
Indenture.

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION,

As Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

 

 

	 	 	 	 	 

Reverse of Security

          1. Indenture and Principal Amount

     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of
March 18, 2008 (herein called the “Indenture”), from the Company to U.S. Bank Trust National
Association, as trustee (herein called the “Trustee,” which term includes any successor trustee
under the Indenture), to which the Indenture and all indentures supplemental thereto reference is
hereby made for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon
which the Securities are, and are to be, authenticated and delivered. This Security is one of the
series designated on the face hereof, limited in aggregate principal amount to FIVE HUNDRED MILLION
DOLLARS ($500,000,000) except for Securities authenticated and delivered upon registration or
transfer of, or in exchange for, or in lieu of, Securities pursuant to Sections 304, 305, 306, 906
or 1107 of the Indenture and subject to the right of the Company to “re-open” the Series of
Securities.

          2. Optional Redemption

     The Securities of this series are subject to redemption (in minimum amounts of $2,000 and
integral multiples of $1,000 in excess thereof) upon not less than 30 days’ but not more than 60
days’ notice by mail, at any time, as a whole or in part, at the election of the Company, at a
redemption price equal to the greater of (i) 100% of the principal amount, together in the case of
any such redemption with accrued and unpaid interest to the redemption date and (ii) the Make-Whole
Amount for the Securities. On or after the redemption date (unless the Company defaults in the
payment of the redemption price and accrued interest) interest will cease to accrue on the
Securities or portions of them called for redemption.

     “Make-Whole Amount” means the sum, as determined by the Quotation Agent (defined below), of
the present values of the Remaining Scheduled Payments (as defined below) on the Securities being
redeemed, discounted to the redemption date on a semi-annual basis, assuming a 360-day year
consisting of twelve 30-day months, at the Adjusted Treasury Rate (defined below), plus accrued and
unpaid interest on the principal amount of the Securities being redeemed to the redemption date.

     “Adjusted Treasury Rate” means, with respect to any redemption date, (i) the yield, under the
heading which represents the average for the immediately preceding week, appearing in the most
recently published statistical release designated “H.15 (519)” or any successor publication which
is published weekly by the Board of Governors of the Federal Reserve System and which establishes
yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption
“Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (as
defined below) (if

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no maturity is within three months before or after the remaining term of the Securities,
yields for the two published maturities most closely corresponding to the Comparable Treasury Issue
shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such
yields on a straight-line basis, rounding to the nearest month) or (ii) if such release (or any
successor release) is not published during the week preceding the calculation date or does not
contain such yields, the rate per year equal to the semi-annual equivalent yield to maturity of the
Comparable Treasury Issue assuming a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Price for such redemption
date, in each case calculated on the third Business Day preceding the redemption date, plus
0.25%.

     “Comparable Treasury Issue” means the U.S. Treasury security selected by the Quotation Agent
as having a maturity comparable to the remaining term from the redemption date to the stated
maturity of the Securities that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities.

     “Comparable Treasury Price” means, with respect to any redemption date, the average of the
Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and
lowest of the Reference Treasury Dealer Quotations; provided, however, that if the Quotation Agent
obtains fewer than four Reference Treasury Dealer Quotations, the Comparable Treasury Price shall
be the average of all Reference Treasury Dealer Quotations so received.

     “Quotation Agent” means the Reference Treasury Dealer selected by the Company to act as
Quotation Agent.

     “Reference Treasury Dealer” means each of Deutsche Bank Securities Inc. and Goldman, Sachs &
Co., and their respective successors, and any other primary United States Government securities
dealers (each a “primary treasury dealer”) specified by the Company from time to time; provided,
however, that if any Reference Treasury Dealer shall cease to be a primary treasury dealer, the
Company shall substitute another primary treasury dealer for such Reference Treasury Dealer.

     “Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer
and any redemption date, the average, as determined by a Reference Treasury Dealer, of the bid and
asking prices for the Comparable Treasury Issue, expressed in each case as a percentage of its
principal amount, quoted in writing to the trustee by such Reference Treasury Dealer at 5:00 p.m.,
New York City time, on the third Business Day preceding such redemption date.

     “Remaining Scheduled Payments” means the remaining scheduled payments of the principal of and
interest on each Security to be redeemed that would be due after the related redemption date but
for such redemption. If the redemption date is not an interest payment date with respect to the
Security being redeemed, the amount of the next

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succeeding scheduled interest payment on the Security being redeemed will be reduced by the
amount of interest accrued thereon to that redemption date.

          3. Repurchase upon a Change of Control

     If a Change of Control Triggering Event occurs, each Holder of Securities will have the right
to require the Company to purchase all or a portion of such Holder’s Securities (in minimum amounts
of $2,000 and integral multiples of $1,000 in excess thereof) pursuant to the offer
described below (the “Change of Control Offer”) at a purchase price equal to 101% of the principal
amount thereof plus accrued and unpaid interest, if any, to the date of repurchase, subject to the
rights of Holders of Securities on the relevant Regular Record Date to receive interest due on the
relevant Interest Payment Date (the “Change of Control Payment”).

     Within 30 days following any Change of Control Triggering Event, or at the Company’s option,
prior to any Change of Control but after the public announcement of the pending Change of Control,
the Company shall mail a notice to Holders of Securities, with a written copy to the Trustee, which
notice shall govern the terms of the Change of Control Offer. Such notice shall state:

	 	(i)	 	a brief description of the transaction or transactions that constitute the
Change of Control Triggering Event;
	 
	 	(ii)	 	that the Change of Control Offer is being made pursuant to this Section 3 and
that all Securities validly tendered will be accepted for payment;
	 
	 	(iii)	 	the Change of Control Payment and the Change of Control Payment
Date, which date shall be a Business Day that is no earlier than 30 days and no
later than 60 days from the date such notice is mailed, other than as may be required
by law (the “Change of Control Payment Date”);
	 
	 	(iv)	 	if the notice is mailed prior to the date of the consummation of the Change
of Control, the notice will state that the Change of Control Offer is conditioned on
the Change of Control Triggering Event occurring on or prior to the Change of Control
Payment Date; and
	 
	 	(v)	 	that Holders of Securities electing to have Securities purchased pursuant to
a Change of Control Offer must surrender their Securities, with the form entitled
“Option of Holder to Elect Repurchase” on the reverse of this Security completed, to
the Paying Agent at the address specified in the notice, or transfer their Securities
to the Paying Agent by book-entry transfer pursuant to the applicable procedures of
the Paying Agent, prior to the close of business on the third Business Day prior to
the Change of Control Payment Date.

     The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of Securities as a result of a Change of Control
Triggering Event. To the extent that the provisions of any securities laws or regulations conflict
with this Section 3, the Company will comply with the applicable securities laws and regulations
and will not be deemed to have breached its obligations under this section by virtue of such
conflicts.

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     Notwithstanding the foregoing, the Company will not be required to make an offer to repurchase
the Securities upon a Change of Control Triggering Event if (i) a third party makes such an offer
in the manner, at the times and otherwise in compliance with the requirements for an offer made by
the Company and such third party purchases all the Securities properly tendered and not withdrawn
under its offer or (ii) the Company has given written notice of a redemption as provided under
“Optional Redemption,” unless the Company has failed to pay the redemption price on the redemption
date.

     “Below Investment Grade Rating Event” means the Securities are rated below an Investment Grade
Rating by each of the Rating Agencies (as defined below) on the 60th day following the occurrence
of a Change of Control (which date shall be extended if the rating of the Securities is under
publicly announced consideration for possible downgrade by any of the Rating Agencies on such 60th
day, such extension to last until the date on which the Rating Agency considering such possible
downgrade either (x) rates the Securities below an Investment Grade Rating or (y) publicly
announces that it is no longer considering the Securities for possible downgrade; provided,
that no such extension shall occur if any of the Rating Agencies rates the Securities with an
Investment Grade Rating that is not subject to review for possible downgrade on such 60th day).

     “Change of Control” means the occurrence of any of the following:

	 	(i)	 	the direct or indirect sale, transfer, conveyance or other
disposition (other than by way of merger or consolidation), in one or more
series of related transactions, of all or substantially all of the Company’s
assets and the assets of its Subsidiaries, taken as a whole, to any person,
other than to the Company or one of its Subsidiaries;
	 
	 	(ii)	 	the consummation of any transaction (including, without
limitation, any merger or consolidation) the result of which is that any person
becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act), directly or indirectly, of more than 50% of the Company’s
outstanding Voting Stock or other Voting Stock into which the Company’s Voting
Stock is reclassified, consolidated, exchanged or changed, measured by voting
power rather than number of shares;
	 
	 	(iii)	 	the Company consolidates with, or merges with or into, any
person, or any person consolidates with, or merges with or into, the Company, in
any such event pursuant to a transaction in which any of the Company’s
outstanding Voting Stock or the Voting Stock of such other person is converted
into or exchanged for cash, securities or other property, other than any such
transaction where the shares of the Company’s Voting Stock outstanding
immediately prior to such transaction constitute, or are converted into or
exchanged for, a majority of the Voting Stock of the surviving person or any
direct or

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	 	 	 	indirect parent company of the surviving person immediately after giving
effect to such transaction;
	 
	 	(iv)	 	the first day on which a majority of the members of the Board of
Directors of the Company cease to be Continuing Directors; or
	 
	 	(v)	 	the adoption of a plan relating to the liquidation or dissolution
of the Company.

     Notwithstanding the foregoing, a transaction will not be deemed to involve a
Change of Control under clause (ii) above if (1) the Company becomes a direct or
indirect wholly-owned Subsidiary of a holding company and (2)(A) the direct or
indirect holders of the Voting Stock of such holding company immediately following
that transaction are substantially the same as the holders of the Company’s Voting
Stock immediately prior to that transaction or (B) immediately following that
transaction no Person (other than a holding company satisfying the requirements of
this sentence) is the beneficial owner, directly or indirectly, of more than 50% of
the Voting Stock of such holding company. The term “person,” as used in this
definition, has the meaning given thereto in Section 13(d)(3) of the Exchange Act.

     “Change of Control Triggering Event” means the occurrence of both a Change of Control and a
Below Investment Grade Rating Event.

     “Continuing Director” means, as of any date of determination, any member of the Board of
Directors of the Company who:

	 	(i)	 	was a member of such Board of Directors on the date of the
issuance of the Securities; or
	 
	 	(ii)	 	was nominated for election or elected to such Board of Directors
with the approval of a majority of the Continuing Directors who were members of
such Board of Directors at the time of such nomination or election (either by a
specific vote or by approval of the Company’s proxy statement in which such
member was named as a nominee for election as a director, without objection to
such nomination).

     “Fitch” means Fitch, Inc. and its successors.

     “Investment Grade Rating” means a rating equal to or higher than BBB- (or the equivalent) by
Fitch, Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or, in each case,
if such Rating Agency ceases to make a rating of the Securities publicly available, the equivalent
investment grade credit rating by the replacement agency selected by the Company in accordance with
the procedures described in the definition of “Rating Agencies” below.

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     “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its
successors.

     “Rating Agencies” means (1) each of Fitch, Moody’s and S&P; and (2) if any of Fitch, Moody’s
or S&P ceases to make a rating of the Securities publicly available, a “nationally recognized
statistical rating organization,” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange
Act, selected by the Company (as certified by a resolution of the Company’s Board of Directors) as
a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be.

     “S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc.,
and its successors.

     For purposes of Sections 2 and 3 hereof, in the event of redemption or repurchase of this
Security in part only, a new Security or Securities of this series and of like tenor for the
unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation
hereof.

          4. Restrictive Covenants

     The restrictions on the Company’s ability to create or incur secured indebtedness (pursuant to
Section 1006 of the Indenture) and to enter into certain sale and leaseback transactions (pursuant
to Section 1009 of the Indenture) will be applicable to Securities of this series.

          5. Defeasance

     The Indenture contains provisions for defeasance at any time of the entire outstanding
indebtedness of this Security and certain restrictive covenants and Events of Default with respect
to this Security, in each case upon compliance with certain conditions set forth in the Indenture.

          6. Events of Default

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

          7. Amendment, Modification and Waiver

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting
the Holders of specified

6

 

percentages in principal amount of the Securities of each series at the time Outstanding, on behalf
of the Holders of all Securities of such series, to waive compliance by the Company with certain
provisions of the Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such
Holder and upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation
of such consent or waiver is made upon this Security.

          8. Limitation on Suits

     As provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the
appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall
have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the
Securities of this series at the time Outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in
principal amount of Securities of this series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60 days after receipt of
such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted
by the Holder of this Security for the enforcement of any payment of principal hereof or any
premium or interest hereon on or after the respective due dates expressed herein.

          9. No Alteration of the Company’s Obligation

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

          10. Transfer, Form and Denomination

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is registerable in the Security Register, upon surrender of this Security
for registration of transfer at the office or agency of the Company in any place where the
principal of (and premium, if any) and interest on this Security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing,
and thereupon one or more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated
transferee or transferees.

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     The Securities of this series are issuable only in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 above that amount. As provided in the
Indenture and subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series and of like tenor
of a different authorized denomination, as requested by the Holder surrendering the same.

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

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

     All terms used in this Security that are defined in the Indenture shall have the meaning
assigned to them in the Indenture.

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Option of Holder to Elect Repurchase

If you want to elect to have this Security purchased by the Company pursuant to the Indenture,
check the box below:

o

If you want to elect to have only part of the Security purchased by the Company pursuant to the
Indenture and the terms of the Security, state the amount you elect to have purchased:

$               

(must be a minimum amount of $2,000 and integral multiples of $1,000 in excess thereof)

Date:                

Your Signature:                                                                   
                                     

                           (Sign exactly as your name appears on the face of this Security)

Tax Identification No.: 

Signature Guarantee:**                                                                                                                                                                                         

 

			
	** 	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature
guarantor acceptable to the Trustee)

 

 

Assignment Form

To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to:

Assignee’s
social security or tax I.D. number:

Assignee’s
name, address and zip code:

 

and irrevocably appoint             
                
                
                 as
agent to transfer this Security on the books of the Company. The agent may substitute another to
act for him.

Date:                                         

Your Signature:                                                      
                                                  

                           (Sign exactly as your name appears on the face of this Security)

Signature Guarantee:                                                                     
                                    

                                   (Participant in a Recognized Signature Guaranty Medallion Program)exv4w1

Exhibit 4.1

NEVADA POWER COMPANY

d/b/a NV Energy

OFFICER’S CERTIFICATE

September 14, 2010

     I, the undersigned officer of Nevada Power Company d/b/a NV Energy (the “Company”), do hereby
certify that I am an Authorized Officer of the Company as such term is defined in the Indenture (as
defined herein). I am delivering this certificate pursuant to the authority granted in the Board
Resolutions of the Company dated October 30, 2009, and Sections 1.04, 2.01, 3.01, 4.01(a) and
4.02(b)(i) of the General and Refunding Mortgage Indenture dated as of May 1, 2001, as heretofore
amended and supplemented to the date hereof (as heretofore amended and supplemented, the
“Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly The
Bank of New York), as Trustee (the “Trustee”). Section 1(u)(iii) of this Officer’s Certificate
sets forth definitions of capitalized terms used herein. Terms used herein and not otherwise
defined herein shall have the meanings assigned to them in the Indenture. Based upon the
foregoing, I hereby certify on behalf of the Company as follows:

     1. The terms and conditions of the Securities described in this Officer’s Certificate are as
follows (the lettered subdivisions set forth in this Section 1 corresponding to the lettered
subdivisions of Section 3.01 of the Indenture):

(a) The Securities of the twenty-fourth series to be issued under the Indenture shall be
designated “5.375% General and Refunding Mortgage Notes, Series X, due 2040 (the “Series X
Notes”).

(b) There shall be no limit upon the aggregate principal amount of the Series X Notes that
may be authenticated and delivered under the Indenture. The Series X Notes shall be
initially authenticated and delivered in the aggregate principal amount of $250,000,000.

(c) Interest on the Series X Notes shall be payable to the Persons in whose names such
Securities are registered at the close of business on the Regular Record Date for such
interest, except as otherwise expressly provided in the form of such Securities attached
hereto as Exhibit A.

(d) The Series X Notes shall mature and the principal thereof shall be due and payable
together with all accrued and unpaid interest thereon on September 15, 2040.

(e) The Series X Notes shall bear interest at 5.375% per annum and such interest shall be
payable at the times provided in the form of such Securities attached hereto as Exhibit
A.

(f) The Corporate Trust Office of The Bank of New York Mellon Trust Company, N.A. in New
York, New York shall be the place at which (i) the principal, interest and premium on the
Series X Notes shall be payable, (ii) registration of transfer of the Series X Notes may be
effected, (iii) exchanges of the Series

 

 

X Notes may be effected and (iv) notices and demands
to or upon the Company in respect of the Series X Notes and the Indenture may be served;
and The Bank of New York Mellon Trust Company, N.A. shall be the Security Registrar for the
Series X Notes; provided, however, that the Company reserves the right to
change, by one or more Officer’s Certificates, any such place or the Security Registrar; and
provided, further, that the Company reserves the right to designate, by one
or more Officer’s Certificates, its principal office in Las Vegas, Nevada as any such place
or itself or any of its Subsidiaries as the Security Registrar; provided,
however, that there shall be only a single Security Registrar for the Series X
Notes.

(g) Optional Redemption.

          (i) Optional Redemption. At any time prior to March 15, 2040, the Company may
redeem the Series X Notes at its option, either in whole or in part at a redemption price
equal to the greater of (1) 100% of the principal amount of the Series X Notes being
redeemed and (2) the sum of the present values of the remaining scheduled payments of
principal and interest on the Series X Notes being redeemed (excluding the portion of any
such interest accrued to the date of redemption) discounted (for purposes of determining
present value) to the redemption date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 25 basis
points, plus, in each case, accrued interest thereon to the date of redemption.

At any time on or after March 15, 2040, the Company may redeem the Series X Notes at its
option, either in whole or in part, at a redemption price equal to 100% of the principal
amount of the Series X Notes being redeemed plus accrued interest thereon to the date of
redemption.

     “Comparable Treasury Issue” means the United States Treasury security selected by
an Independent Investment Banker as having a maturity comparable to the remaining term
of the Series X Notes that would be utilized, at the time of selection and in accordance
with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of the Series X Notes.

     “Comparable Treasury Price” means, with respect to any redemption date, (1) the
average of the bid and asked prices for the Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) on the third Business Day preceding such
redemption date, as set forth in the daily statistical release (or any successor
release) published by the Federal Reserve Bank of New York and designated “Composite
3:30 p.m. Quotations for U.S. Government Securities” or (2) if such release (or any
successor release) is not published or does not contain such prices on such third
Business Day, the Reference Treasury Dealer Quotation for such redemption date.

     “Independent Investment Banker” means one of the Reference Treasury Dealers
appointed by the Company.

2

 

     “Reference Treasury Dealer” means a primary U.S. Government Securities Dealer
selected by the Company.

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

     “Treasury Rate” means, with respect to any redemption date, the rate per year equal
to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
assuming a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such redemption date.

          (ii) Notice of Redemption. Notices of redemption shall be mailed by first
class mail at least 30 but not more than 60 days before the Redemption Date to each Holder
of Series X Notes to be redeemed at its registered address, except that redemption notices
may be mailed more than 60 days prior to a Redemption Date if the notice is issued in
connection with a defeasance of the Series X Notes or a satisfaction and discharge of the
Series X Notes under the Indenture. Notices of redemption may not be conditional. In lieu
of the Redemption Price, any Notice of Redemption of the Series X Notes shall state the
manner of calculating the Redemption Price.

          (iii) Selection of Series X Notes to be Redeemed. In accordance with Section
5.03 of the Indenture, the following method is provided for the selection of Series X Notes
to be redeemed and these procedures shall be followed by the Security Registrar in the event
of a redemption of the Series X Notes pursuant to the provisions of this Officer’s
Certificate. If less than all of the Series X Notes are to be redeemed at any time, the
Security Registrar shall select Series X Notes for redemption as follows:

	 	(A)	 	if the Series X Notes are listed on any national securities
exchange, in compliance with the requirements of the principal national
securities exchange on which the Series X Notes are listed; or
	 
	 	(B)	 	if the Series X Notes are not listed on any national securities
exchange, on a pro rata basis, by lot or by such method as the Trustee deems
fair and appropriate.

No Series X Notes of $2,000 principal amount or less can be redeemed in part.

(h) Mandatory Redemption/Offers to Purchase.

          (i) Mandatory Redemption. The Company is not required to make mandatory
redemption or sinking fund payments with respect to the Series X Notes.

3

 

          (ii) Offer to Purchase Upon Change of Control.

          (A) Upon the occurrence of a Change of Control, each Holder of Series X Notes shall
have the right to require the Company to repurchase all or any part (equal to $2,000 or an
integral multiple of $1,000 in excess thereof) of that Holder’s Series X Notes pursuant to
the offer described below (the “Change of Control Offer”) on the terms set forth in this
Officer’s Certificate. In the Change of Control Offer, the Company shall offer an amount in
cash (the “Change of Control Payment”) equal to 101% of the aggregate principal amount of
Series X Notes repurchased plus accrued and unpaid interest on the Series X Notes
repurchased to the Change of Control Payment Date (as defined below).

          (B) Within ten days following any Change of Control, the Company shall mail a notice to
each Holder of Series X Notes stating:

	 	(1)	 	the description of the transaction or transactions that
constitute the Change of Control, that the Change of Control Offer is being
made pursuant to this Section 1(h)(ii), and that all Series X Notes validly
tendered and not withdrawn shall be accepted for payment;
	 
	 	(2)	 	the purchase price and the purchase date, which shall be no
earlier than 30 days and no later than 60 days from the date such notice is
mailed (the “Change of Control Payment Date”);
	 
	 	(3)	 	that any Series X Note not tendered or accepted for payment
shall continue to accrue interest;
	 
	 	(4)	 	that, unless the Company defaults in the payment of the Change
of Control Payment, all Series X Notes accepted for payment pursuant to the
Change of Control Offer shall cease to accrue interest after the Change of
Control Payment Date;
	 
	 	(5)	 	that Holders of Series X Notes electing to have any Series X
Notes purchased pursuant to a Change of Control Offer shall be required to
surrender the Series X Notes properly endorsed, with the form entitled “Option
of Holder to Elect Purchase” on the reverse of the Series X Notes properly
completed, together with other customary documents as the Company may
reasonably request, to the Paying Agent at the address specified in the notice
prior to the close of business on the third Business Day preceding the Change
of Control Payment Date;
	 
	 	(6)	 	that Holders of Series X Notes shall be entitled to withdraw
their election if the Paying Agent receives, not later than the close of
business on the second Business Day preceding the Change of Control Payment
Date, a telegram, facsimile transmission or letter setting forth the name of
the Holder, the principal amount of Series X Notes delivered for purchase,

4

 

	 	 	 	and
a statement that such Holder of Series X Notes is withdrawing its election to
have the Series X Notes purchased; and
	 
	 	(7)	 	that Holders of Series X Notes whose Series X Notes are being
purchased only in part shall be issued new Series X Notes equal in principal
amount to the unpurchased portion of the Series X Notes surrendered, which
unpurchased portion must be equal to $2,000 in principal amount or an integral
multiple of $1,000 in excess thereof.

          (C) If any of the Series X Notes subject to a Change of Control Offer are in the form
of a Global Note, then the Company shall modify such notice to the extent necessary to
accord with the Applicable Procedures of the Depositary applicable to offers to purchase.

          (D) On the Change of Control Payment Date, the Company shall, to the extent lawful, (1)
accept for payment all Series X Notes or portions thereof properly tendered pursuant to the
Change of Control Offer, (2) deposit with the Paying Agent in immediately available funds an
amount equal to the Change of Control Payment in respect of all Series X Notes or portions
thereof so tendered and (3) deliver or cause to be delivered to the Trustee the Series X
Notes so accepted together with an Officer’s Certificate stating the aggregate principal
amount of Series X Notes or portions thereof being purchased by the Company. The Paying
Agent shall promptly mail to each Holder of Series X Notes so tendered the Change of Control
Payment for such Series X Notes, and the Trustee shall promptly authenticate and make
available for delivery to each Holder of Series X Notes a new Series X Note equal in
principal amount to any unpurchased portion of the Series X Notes surrendered, if any;
provided that each such new Series X Note shall be in a principal amount of $2,000
or an integral multiple of $1,000 in excess thereof. Any Series X Note not so accepted
shall be promptly mailed or delivered by the Company to the Holder thereof. The Company
shall publicly announce the results of the Change of Control Offer on or as soon as
practicable after the Change of Control Payment Date.

          (E) The Change of Control provisions described above that require the Company to make a
Change of Control Offer following a Change of Control shall be applicable whether or not any
other provisions of this Officer’s Certificate are applicable.

          (F) The Company shall not be required to make a Change of Control Offer upon a Change
of Control if a third party makes the Change of Control Offer in the manner, at the times
and otherwise in compliance with the requirements set forth herein applicable to a Change of
Control Offer made by the Company and purchases all Series X Notes validly tendered and not
withdrawn under such Change of Control Offer.

          (iii) Offers to Purchase – General.

          (A) If the Change of Control Payment Date is on or after a Regular Record Date and on
or before the related Interest Payment Date, any accrued and unpaid interest shall be paid
to the Person in whose name a Series X Note is registered at the close of

5

 

business on such
Regular Record Date, and no additional interest shall be payable to Holders of Series X
Notes who tender Series X Notes pursuant to the Change of Control Offer.

          (B) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act
and any other securities laws and regulations thereunder to the extent those laws and
regulations are applicable in connection with a Change of Control Offer. To the extent that
the provisions of any securities laws or regulations conflict with the Change of Control
Offer provisions of this Officer’s Certificate, the Company shall comply with the applicable
securities laws and regulations and shall not be deemed to have breached its obligations
under the Change of Control Offer provisions of this Officer’s Certificate by virtue of such
conflict.

(i) The Series X Notes are issuable only in denominations of $2,000 and integral multiples
of $1,000 in excess thereof.

(j) Not applicable.

(k) Not applicable.

(l) Not applicable.

(m) See subsection (e) above.

(n) Not applicable.

(o) Not applicable.

(p) Not applicable.

(q) Book-entry; Delivery and Form.

          (i) Form and Dating.

          The Series X Notes and the Trustee’s certificate of authentication shall be
substantially in the form of Exhibit A hereto. The Series X Notes may have
notations, legends or endorsements required by law, securities exchange rule or usage. Each
Series X Note shall be dated the date of its authentication. The Series X Notes shall be in
denominations of $2,000 and integral multiples of $1,000 in excess thereof.

          The terms and provisions contained in the Series X Notes shall constitute, and are
hereby expressly made, a part of this Officer’s Certificate, and the Company, by its
execution and delivery of this Officer’s Certificate, expressly agrees to such terms and
provisions and to be bound thereby. However, to the extent any provision of any Series X
Note conflicts with the express provisions of this Officer’s Certificate or the Indenture,
the provisions of this Officer’s Certificate or the Indenture, as applicable, shall govern
and be controlling.

6

 

          Series X Notes initially shall be issued in global form and shall be substantially in
the form of Exhibit A attached hereto. Series X Notes issued in definitive form
shall also be substantially in the form of Exhibit A attached hereto. Each Global
Note shall represent such aggregate principal amount of the outstanding Series X Notes as
shall be specified therein and each shall provide that it shall represent the aggregate
principal amount of outstanding Series X Notes from time to time endorsed thereon and that
the aggregate principal amount of outstanding Series X Notes represented thereby may from
time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions.
Any endorsement of a Global Note to reflect the amount of any increase or decrease in the
aggregate principal amount of outstanding Series X Notes represented thereby shall be made
by the Trustee, the Depositary or the Note Custodian, at the direction of the Trustee, in
accordance with instructions given by the Holder thereof as required by Section 1(q)(iv) of
this Officer’s Certificate.

          (ii) Authentication.

          The Trustee or an Authenticating Agent shall authenticate by delivery and execution of
a Trustee’s Certificate of Authentication in the form set forth in Section 2.02 of the
Indenture (A) the Series X Notes for original issue on the Issue Date in the aggregate
principal amount of $250,000,000 (the “Original Notes”) and (B) additional Series X Notes
for original issue from time to time after the Issue Date in such principal amounts as may
be set forth in a Company Order (such additional Series X Notes, together with the Original
Notes, the “Initial Notes”) in each case, upon a Company Order, which Company Order shall
specify (x) the amount of Series X Notes to be authenticated and the date of original issue
thereof and (y) the amount of Series X Notes to be issued in global form or definitive form.
The aggregate principal amount of Series X Notes outstanding at any time may not exceed
$250,000,000 plus such additional principal amounts as may be issued and authenticated
pursuant to clause (B) of this paragraph.

          (iii) Security Registrar, Paying Agent and Depositary.

          The Company initially appoints the Trustee to act as the Security Registrar and Paying
Agent for the Series X Notes. Upon the occurrence of an Event of Default set forth in
Sections 10.01(d) or 10.01(e) of the Indenture, the Trustee shall serve as Paying Agent for
the Series X Notes. Pursuant to Section 6.02 of the Indenture, the Company hereby
designates the Corporate Trust Office of the Trustee as its office or agency in the City and
State of New York where payment of the Series X Notes shall be made, where the registration
of transfer or exchange of the Series X Notes may be effected and where notices and demands
to or upon the Company in respect of the Series X Notes and the Indenture may be served.
The Company may also from time to time designate one or more other offices or agencies with
respect to the Series X Notes and may from time to time rescind any of these designations in
accordance with the terms provided in Section 6.02 of the Indenture.

7

 

          The Company initially appoints The Depository Trust Company (“DTC”) to act as
Depositary with respect to the Global Notes. The Trustee has been appointed by DTC to act
as Note Custodian with respect to the Global Notes.

          (iv) Transfer and Exchange.

          (A) Transfer and Exchange of Global Notes. A Global Note may not be
transferred except as a whole by the Depositary to a nominee of the Depositary, by a nominee
of the Depositary to the Depositary or to another nominee of the Depositary, or by the
Depositary or any such nominee to a successor Depositary or a nominee of such successor
Depositary. All Global Notes shall be exchanged by the Company for Definitive Notes if:

	 	(1)	 	the Company delivers to the Trustee notice from the Depositary
that it is unwilling or unable to continue to act as Depositary for the Global
Notes or that it is no longer a clearing agency registered under the Exchange
Act and, in either case, a successor Depositary is not appointed by the Company
within 90 days after the date of such notice from the Depositary; or
	 
	 	(2)	 	the Company in its sole discretion notifies the Trustee in
writing that it elects to cause issuance of the Series X Notes in certificated
form.

Upon the occurrence of either of the preceding events in (1) or (2) above, Definitive Notes
shall be issued in such names as the Depositary shall instruct the Trustee. Global Notes
also may be exchanged or replaced, in whole or in part, as provided in Sections 3.06 and
3.09 of the Indenture. Every Series X Note authenticated and delivered in exchange for, or
in lieu of, a Global Note or any portion thereof, pursuant to Sections 3.06 and 3.09 of the
Indenture, shall be authenticated and delivered in the form of Exhibit A attached
hereto. A Global Note may not be exchanged for another Series X Note other than as provided
in this Section 1(q)(iv)(A); however, beneficial interests in a Global Note may be
transferred and exchanged as provided in Section 1(q)(iv)(B) of this Officer’s Certificate.

          (B) Transfer and Exchange of Beneficial Interests in the Global Notes. The
Company acknowledges that the transfer and exchange of beneficial interests in the Global
Notes will be effected through the Depositary, in accordance the Applicable Procedures.

          (C) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon
request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of
this Section 1(q)(iv)(C), the Security Registrar shall register the transfer or exchange of
Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder
shall present or surrender to the Security Registrar the Definitive Notes duly endorsed or
accompanied by a written instruction of transfer in form satisfactory to the Security
Registrar duly executed by such Holder or by his attorney, duly authorized in writing.

8

 

          (D) Legends. The following legend shall appear on the face of all Global Notes
issued under this Indenture unless specifically stated otherwise in the applicable
provisions of this Officer’s Certificate:

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE OFFICER’S CERTIFICATE
UNDER THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
ARTICLE III OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN
PART PURSUANT TO SECTION 1(q)(iv)(A) OF THE OFFICER’S CERTIFICATE UNDER THE INDENTURE, (III)
THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 3.09
OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH
THE PRIOR WRITTEN CONSENT OF THE COMPANY OR ANY SUCCESSOR THERETO.”

          Additionally, so long as DTC is the Depositary with respect to any Global Note, each
such Global Note shall also bear a legend in substantially the following form:

“UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY, TO THE
COMPANY OR ANY SUCCESSOR THERETO OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS
MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITARY), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.”

          (E) Cancellation and/or Adjustment of Global Notes. At such time as all
beneficial interests in a particular Global Note have been exchanged for Definitive Notes or
a particular Global Note has been redeemed, repurchased or canceled in whole and not in
part, each such Global Note shall be returned to or retained and canceled by the Trustee in
accordance with Section 3.09 of the Indenture. At any time prior to such cancellation, if
any beneficial interest in a Global Note is exchanged for or transferred to a Person who
shall take delivery thereof in the form of a beneficial interest in another Global Note or
for Definitive Notes, the principal amount of Series X Notes represented by such Global Note
shall be reduced accordingly and an endorsement shall be made on such Global Note, by the
Trustee, the Note Custodian or the Depositary at the direction of the Trustee, to reflect
such reduction; and if the beneficial interest is being exchanged for or transferred to a
Person who shall take delivery thereof in the form of a beneficial interest in another
Global Note, such other Global Note shall be increased accordingly

9

 

and an endorsement shall
be made on such Global Note, by the Trustee, the Note Custodian or by the Depositary at the
direction of the Trustee, to reflect such increase.

          (F) General Provisions Relating to Transfers and Exchanges. To permit
registrations of transfers and exchanges, subject to Section 1(q)(iv) of this Officer’s
Certificate, the Company shall execute and, upon the Company’s order, the Trustee or an
Authenticating Agent shall authenticate Global Notes and Definitive Notes at the Security
Registrar’s request.

          (v) Outstanding Series X Notes.

          Notwithstanding the definition of “Outstanding” in Section 1.01 of the Indenture,
Series X Notes that the Company, a Subsidiary of the Company or an Affiliate of the Company
offers to purchase or acquires pursuant to an offer, exchange offer, tender offer or
otherwise shall not be deemed to be owned by the Company, such Subsidiary or such Affiliate
until legal title to such Series X Notes passes to the Company, such Subsidiary or such
Affiliate, as the case may be.

(r) Not applicable.

(s) Not applicable.

(t) Not applicable.

(u) Additional Conditions and Definitions.

          (i) Additional Conditions to Section 9.01 of Indenture.

Notwithstanding the provisions of Section 9.01 of the Indenture, no Series X Note shall be
deemed to have been paid pursuant to such provisions unless the Company shall have delivered
to the Trustee either: (a) an Opinion of Counsel in the United States reasonably acceptable
to the Trustee confirming that (i) the Company has received from, or there has been
published by, the Internal Revenue Service a ruling or (ii) since the date of this
Officer’s Certificate, there has been a change in the applicable federal income tax law, in
either case to the effect that, and based thereon such Opinion of Counsel shall confirm
that, the Holders of the Outstanding Series X Notes will not recognize income, gain or loss
for federal income tax purposes as a result of such satisfaction and discharge and will be
subject to federal income tax on the same amounts, in the same manner and at the same times
as would have been the case if such satisfaction and discharge had not occurred; or (b) (i)
an instrument wherein the Company, notwithstanding the satisfaction and discharge of the
Company’s indebtedness in respect of the Series X Notes, shall assume the obligation (which
shall be absolute and unconditional) to irrevocably deposit with the Trustee such additional
sums of money, if any, or additional Eligible Obligations, if any, or any combination
thereof, at such time or times, as shall be necessary, together with the money and/or
Eligible Obligations theretofore so deposited, to pay when due the principal of and premium,
if any, and interest due and to become due on such Series X Notes or portions thereof;
provided, however, that such instrument may state that the Company’s
obligation to make additional deposits as aforesaid shall be

10

 

subject to the delivery to the
Company by the Trustee of a notice asserting the deficiency accompanied by an opinion of an
Independent public Accountant of nationally recognized standing showing the calculation
thereof; and (ii) an Opinion of Counsel of tax counsel in the United States reasonably
acceptable to the Trustee to the effect that the Holders of the Outstanding Series X Notes
will not recognize income, gain or loss for federal income tax purposes as a result of such
satisfaction and discharge and will be subject to federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such satisfaction and
discharge had not occurred.

          (ii) Modifications Requiring Consent.

          In addition to the provisions of Section 14.02 of the Indenture, no supplemental
indenture shall alter or waive any of the provisions with respect to the redemption of the
Series X Notes set forth in Section 1(g) hereof without the consent of each Holder of Series
X Notes affected thereby.

          (iii) Certain Definitions.

          Set forth below are certain defined terms used in this Officer’s Certificate. Reference
is made to the Indenture for the definitions of any other capitalized terms used herein for
which no definition is provided herein.

          “Affiliate” of any specified Person means any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with such specified
Person. For purposes of this definition, “control,” as used with respect to any Person,
means the possession, directly or indirectly, of the power to direct or cause the direction
of the management or policies of such Person, whether through the ownership of voting
securities, by agreement or otherwise; provided that beneficial ownership of 10% or
more of the Voting Stock of a Person shall be deemed to be control. For purposes of this
definition, the terms “controlling,” “controlled by” and “under common control with” have
correlative meanings.

          “Applicable Procedures” means, with respect to any transfer or exchange of or for
beneficial interests in any Global Note, the rules and procedures of the Depositary,
Euroclear and Clearstream that apply to such transfer or exchange.

          “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the
relief of debtors.

          “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5
under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), except that in
calculating the beneficial ownership of any particular “person” (as that term is used in
Section 13(d)(3) of the Exchange Act), such “person” shall be deemed to have beneficial
ownership of all securities that such “person” has the right to acquire by conversion or
exercise of other securities, whether such right is currently exercisable or is exercisable
only upon the occurrence of a subsequent condition. The terms “Beneficially Owns” and
“Beneficially Owned” have a corresponding meaning.

11

 

          “Board of Directors” means:

	 	(1)	 	with respect to a corporation, the board of directors of the
corporation or any committee of such board of directors duly authorized to act
for the corporation;
	 
	 	(2)	 	with respect to a partnership, the board of directors of the
general partner of the partnership; and
	 
	 	(3)	 	with respect to any other Person, the board or committee of
such Person serving a similar function.

          “Capital Stock” means:

	 	(1)	 	in the case of a corporation, corporate stock;
	 
	 	(2)	 	in the case of an association or business entity, any and all
shares, interests, participations, rights or other equivalents (however
designated) of corporate stock;
	 
	 	(3)	 	in the case of a partnership or limited liability company,
partnership or membership interests (whether general or limited); and
	 
	 	(4)	 	any other interest or participation that confers on a Person
the right to receive a share of the profits and losses of, or distributions of
assets of, the issuing Person.

          “Change of Control” means the occurrence of any of the following:

	 	(1)	 	the direct or indirect sale, transfer, conveyance or other
disposition (other than by way of merger or consolidation), in one or a series
of related transactions, of all or substantially all of the properties or
assets of the Company and its Restricted Subsidiaries taken as a whole to any
“person” (as that term is used in Section 13(d)(3) of the Exchange Act,
including any “group” with the meaning of the Exchange Act);
	 
	 	(2)	 	the adoption of a plan relating to the liquidation or
dissolution of the Company;
	 
	 	(3)	 	the consummation of any transaction (including, without
limitation, any merger or consolidation) the result of which is that any
“person” (as defined above) becomes the Beneficial Owner, directly or
indirectly, of more than 30% of the Voting Stock of the Company or NV Energy,
Inc., measured by voting power rather than number of shares; or

          “Change of Control Offer” has the meaning assigned to it in Section 1(h)(ii)(A) of this
Officer’s Certificate.

12

 

          “Change of Control Payment” has the meaning assigned to it in Section 1(h)(ii)(A) of
this Officer’s Certificate.

          “Change of Control Payment Date” has the meaning assigned to it in Section
1(h)(ii)(B)(2) of this Officer’s Certificate.

          “Clearstream” means Clearstream Banking, Societe Anonyme Luxembourg.

          “Default” means any event that is, or with the passage of time or the giving of notice
or both would be, an Event of Default as defined in the Indenture.

          “Definitive Note” means a certificated Series X Note registered in the name of the
Holder thereof and issued in accordance with Section 1(q)(iv) of this Officer’s Certificate,
in the form of Exhibit A hereto except that such Series X Note shall not bear the
Global Note Legend.

          “Depositary” means, with respect to the Series X Notes issuable or issued in whole or
in part in global form, the Person specified in Section 1(q)(iii) of this Officer’s
Certificate as the Depositary with respect to the Series X Notes, and any and all successors
thereto appointed as depositary hereunder and having become such pursuant to the applicable
provision of this Officer’s Certificate or the Indenture.

          “DTC” has the meaning assigned to it in Section 1(q)(iii) of this Officer’s
Certificate.

          “Equity Interests” means Capital Stock and all warrants, options or other rights to
acquire Capital Stock (but excluding any debt security that is convertible into, or
exchangeable for, Capital Stock).

          “Euroclear” means Euroclear Bank S.A./N.V.

          “Event of Default” means an Event of Default as defined in the Indenture.

          “Global Note Legend” means the first legend and, if applicable, the second legend set
forth in Section 1(q)(iv)(D) of this Officer’s Certificate.

          “Global Notes” means, individually and collectively, each of the Series X Notes issued
or issuable in the global form of Exhibit A hereto issued in accordance with
Sections 1(q)(i) of this Officer’s Certificate, and that bears the Global Note Legend and
that is deposited with or on behalf of and registered in the name of the Depositary.

          “Indirect Participant” means a Person who holds a beneficial interest in a Global Note
through a Participant.

          “Initial Notes” has the meaning set forth in Section 1(q)(ii) of this Officer’s
Certificate.

13

 

          “Issue Date” means the first date on which any Series X Notes are issued, authenticated
and delivered under the Indenture and this Officer’s Certificate.

          “Non-Recourse Debt” means indebtedness:

	 	(1)	 	as to which neither Nevada Power nor any of its Restricted
Subsidiaries (a) provides credit support of any kind (including any
undertaking, agreement or instrument that would constitute indebtedness), (b)
is directly or indirectly liable as a guarantor or otherwise, or (c)
constitutes the lender;
	 
	 	(2)	 	no default with respect to which (including any rights that
the holders of the indebtedness may have to take enforcement action against an
Unrestricted Subsidiary) would permit upon notice, lapse of time or both any
holder of any other indebtedness (other than the Notes) of Nevada Power or any
of its Restricted Subsidiaries to declare a default on such other indebtedness
or cause the payment of the indebtedness to be accelerated or payable prior to
its stated maturity; and
	 
	 	(3)	 	as to which the lenders have been notified in writing that
they will not have any recourse to the stock or assets of Nevada Power or any
of its Restricted Subsidiaries.

          “Note Custodian” means the Trustee, as custodian for the Depositary with respect to the
Series X Notes in global form, or any successor entity thereto.

          “Original Notes” has the meaning set forth in Section 1(q)(ii) of this Officer’s
Certificate.

          “Participant” means, with respect to DTC, Euroclear or Clearstream, a Person who has an
account with DTC, Euroclear or Clearstream, respectively (and, with respect to DTC, shall
include Euroclear and Clearstream).

          “Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that is
not an Unrestricted Subsidiary.

          “Subsidiary” means, with respect to any specified Person

	 	(1)	 	any corporation, association or other business entity of which
more than 50% of the total voting power of shares of Capital Stock entitled
(without regard to the occurrence of any contingency) to vote in the election
of directors, managers or trustees of the corporation, association or other
business entity is at the time owned or controlled, directly or indirectly, by
that Person or one or more of the other Subsidiaries of that Person (or a
combination thereof); and
	 
	 	(2)	 	any partnership (a) the sole general partner or the managing
general partner of which is such Person or a Subsidiary of such Person or (b)
the only

14

 

	 	 	 	general partners of which are that Person or one or more Subsidiaries
of that Person (or any combination thereof).

          “Unrestricted Subsidiary” means any Subsidiary of Nevada Power that is designated by
the Board of Directors as an Unrestricted Subsidiary pursuant to a Board Resolution, but
only to the extent that such Subsidiary:

	 	(1)	 	has no indebtedness other than Non-Recourse Debt;
	 
	 	(2)	 	is not party to any agreement, contract, arrangement or
understanding with Nevada Power or any Restricted Subsidiary of Nevada Power
unless the terms of any such agreement, contract, arrangement or understanding
are no less favorable to Nevada Power or such Restricted Subsidiary than those
that might be obtained at the time from Persons who are not Affiliates of
Nevada Power;
	 
	 	(3)	 	is a Person with respect to which neither Nevada Power nor any
of its Restricted Subsidiaries has any direct or indirect obligation (a) to
subscribe for additional Equity Interests or (b) to maintain or preserve such
Person’s financial condition or to cause such Person to achieve any specified
levels of operating results;
	 
	 	(4)	 	has not guaranteed or otherwise directly or indirectly provided
credit support for any indebtedness of Nevada Power or any of its Restricted
Subsidiaries; and
	 
	 	(5)	 	has at least one director on its Board of Directors that is not
a director or executive officer of Nevada Power or any of its Restricted
Subsidiaries and has at least one executive officer that is not a director or
executive officer of Nevada Power or any of its Restricted Subsidiaries.

          “U.S.” means the United States of America.

          “Voting Stock” of any Person as of any date means the Capital Stock of such Person that
is at the time entitled to vote in the election of the Board of such Person.

(v) The Series X Notes shall have such other terms and provisions as are provided in the
form thereof attached hereto as Exhibit A, and shall be issued in substantially such
form.

     2. The undersigned has read all of the covenants and conditions contained in the Indenture,
and the definitions in the Indenture relating thereto, relating to the issuance of the Series X
Notes and in respect of compliance with which this certificate is made.

     The statements contained in this certificate are based upon the familiarity of the undersigned
with the Indenture, the documents accompanying this certificate, and upon discussions by the
undersigned with officers and employees of the Company familiar with the matters set forth herein.

15

 

     In the opinion of the undersigned, he has made such examination or investigation as is
necessary to enable him to express an informed opinion as to whether or not such covenants and
conditions have been complied with.

     In the opinion of the undersigned, such conditions and covenants have been complied with.

16

 

     IN WITNESS WHEREOF, the undersigned has executed this Officer’s Certificate as of the
date first written above.

	 	 	 	 	 
	 	 	 
	 	

 	 
	 	Dilek L. Samil 	 
	 	Senior Vice President, Finance, 
 Chief Financial
Officer and Treasurer 	 
	 

Acknowledged and Received on

September ___, 2010

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Trustee

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Raymond Torres 	 
	 	 	Title:  	 	 
	 

[Signature Page to Officer’s Certificate (Terms of Note)]

 

 

Exhibit A

Form of Series X Notes

[Insert the Global Note Legend, if applicable, pursuant to the provisions of the Indenture and
the Officer’s Certificate]

NEVADA POWER COMPANY

5.375% General and Refunding Mortgage Notes, Series X, due 2040

	 	 	 	 	 	 	 

	Original Interest Accrual Date:

	 	September 14, 2010
	 	Redeemable: Yes þ No o
	 
	Stated Maturity:

	 	September 15, 2040
	 	Redemption Date: See Below
	 
	Interest Rate:

	 	5.375%	 	Redemption Price: See Below
	 
	Interest Payment Dates:

	 	March 15 and September 15
	 	 
	 
	Record Dates:

	 	March 1 and September 1
	 	 

The Security is not a Discount Security

within the meaning of the within-mentioned Indenture.

 

CUSIP No.                                         

5.375% General and Refunding Mortgage Notes, Series X, due 2040

	 	 	 

	No. R-

	 	$                    

promises
to pay to                
      or registered assigns, the principal sum of   
                                      
Dollars on September 15, 2040.

     1. Interest. Nevada Power Company d/b/a NV Energy, a Nevada corporation (the “Company”),
promises to pay interest on the principal amount of this Series X Note at 5.375% per annum, from
September 14, 2010 until maturity. The Company shall pay interest semi-annually in arrears on
March 15 and September 15 of each year, or if any such day is not a Business Day, on the next
succeeding Business Day (each an “Interest Payment Date”). Interest on the Series X Notes shall
accrue from the most recent date to which interest has been paid or, if no interest has been paid,
from Original Interest Accrual Date specified above; provided that if there is no existing
Default in the payment of interest, and if this Series X Note is authenticated between a record
date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall
accrue from such next succeeding Interest Payment Date, except in the case of the original issuance
of Series X Notes, in which case interest shall accrue from the Original Interest Accrual Date
specified above; provided, further, that the first Interest Payment Date shall be March 15, 2011.
The Company shall pay interest (including postpetition interest in any proceeding under the
Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate
borne on the Series X Notes; it shall pay interest (including post-petition interest in any
proceeding under the Bankruptcy Law) on overdue installments of

A-1

 

interest, if any, (without regard to any applicable grace periods) from time to time on demand
at the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year
of twelve 30-day months.

     2. Method of Payment. The Company shall pay interest on the Series X Notes (except Defaulted
Interest) to the Persons who are registered Holders of Series X Notes at the close of business on
the March 1 and September 1 next preceding the Interest Payment Date, even if such Series X Notes
are canceled after such record date and on or before such Interest Payment Date, except as provided
in Section 3.07 of the Indenture with respect to Defaulted Interest. The Series X Notes shall be
payable as to principal and premium and interest at the office or agency of the Company maintained
for such purpose within the City and State of New York, or, at the option of the Company, payment
of interest may be made by check mailed to the Holders of Series X Notes at their addresses set
forth in the register of Holders, and provided that payment by wire transfer of immediately
available funds shall be required with respect to principal of, and interest and premium on, all
Global Notes and all other Series X Notes the Holders of which shall have provided wire transfer
instructions to the Company or the Paying Agent. Such payment shall be in such coin or currency of
the United States of America as at the time of payment is legal tender for payment of public and
private debts.

     3. Paying Agent and Security Registrar. Initially, The Bank of New York Mellon Trust Company,
N.A. (formerly The Bank of New York), the Trustee under the Indenture, shall act as Paying Agent
and Security Registrar. The Company may change any Paying Agent or Security Registrar without
notice to any Holder of Series X Notes. The Company or any of its Subsidiaries may act in any such
capacity.

     4. Indenture; Security. This Series X Note is one of a duly authorized issue of Securities of
the Company, issued and issuable in one or more series under and equally secured by a General and
Refunding Mortgage Indenture, dated as of May 1, 2001 (such Indenture as originally executed and
delivered and as supplemented or amended from time to time thereafter, together with any
constituent instruments establishing the terms of particular Securities, being herein called the
“Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., Trustee
(herein called the “Trustee,” which term includes any successor Trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made for a description
of the property mortgaged, pledged and held in trust, the nature and extent of the security and the
respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the
Holders of the Securities thereunder and of the terms and conditions upon which the Securities are,
and are to be, authenticated and delivered and secured. The acceptance of this Series X Note shall
be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and
provisions of the Indenture. This Series X Note is one of the series designated above. The terms
of the Series X Notes include those stated in the Indenture, the Officer’s Certificate dated
September 14, 2010 (the “Officer’s Certificate”) and those made part of the Indenture by reference
to the Trust Indenture Act. The Series X Notes are subject to all such terms, and Holders of
Series X Notes are referred to the Indenture and such Act for a statement of such terms. To the
extent any provision of this Series X Note conflicts with the express provisions of the Indenture
or the Officer’s Certificate, the provisions of the

A-2

 

Indenture and the Officer’s Certificate shall govern and be controlling. The Series X Notes
are general obligations of the Company initially limited to $250,000,000 aggregate principal amount
in the case of Series X Notes issued on the Issue Date.

     All Outstanding Securities, including the Series X Notes, issued under the Indenture are
secured by the lien of the Indenture on the properties of the Company described in the Indenture.

     5. Optional Redemption.

     (a) At any time prior to March 15, 2040, the Company may redeem the Series X Notes at
its option, either in whole or in part at a redemption price equal to the greater of (1)
100% of the principal amount of the Series X Notes being redeemed and (2) the sum of the
present values of the remaining scheduled payments of principal and interest on the Series X
Notes being redeemed (excluding the portion of any such interest accrued to the date of
redemption) discounted (for purposes of determining present value) to the redemption date on
a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the
Treasury Rate (as defined below) plus 25 basis points, plus, in each case, accrued interest
thereon to the date of redemption.

At any time on or after March 15, 2040, the Company may redeem the Series X Notes at its
option, either in whole or in part, at a redemption price equal to 100% of the principal
amount of the Series X Notes being redeemed plus accrued interest thereon to the date of
redemption.

     “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term of the
Series X Notes that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of the Series X Notes.

     “Comparable Treasury Price” means, with respect to any redemption date, (1) the
average of the bid and asked prices for the Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) on the third Business Day preceding such
redemption date, as set forth in the daily statistical release (or any successor release)
published by the Federal Reserve Bank of New York and designated “Composite 3:30 p.m.
Quotations for U.S. Government Securities” or (2) if such release (or any successor
release) is not published or does not contain such prices on such third Business Day, the
Reference Treasury Dealer Quotation for such redemption date.

     “Independent Investment Banker” means one of the Reference Treasury Dealers appointed
by the Company.

     “Reference Treasury Dealer” means a primary U.S. Government Securities Dealer
selected by the Company.

A-3

 

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

     “Treasury Rate” means, with respect to any redemption date, the rate per year equal
to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
assuming a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such redemption date.

     6. Notice of Optional Redemption. Notice of optional redemption shall be mailed at least 30
days but not more than 60 days before the Redemption Date to each Holder whose Series X Notes are
to be redeemed at its registered address. Series X Notes in denominations larger than $2,000 may
be redeemed in part but only in whole multiples of $1,000 in excess thereof. Notices of redemption
may not be conditional. On and after the redemption date, interest ceases to accrue on Series X
Notes or portions thereof called for redemption.

     7. Mandatory Redemption. The Company shall not be required to make mandatory redemption or
sinking fund payments with respect to the Series X Notes.

     8. Denominations, Transfer, Exchange. The Series X Notes are in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The
transfer of Series X Notes may be registered and Series X Notes may be exchanged as provided in the
Indenture and the Officer’s Certificate. The Security Registrar and the Trustee may require a
Holder of Series X Notes, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder of Series X Notes to pay any taxes and fees required
by law or permitted by the Indenture. The Company need not exchange or register the transfer of
any Series X Note or portion of a Series X Note selected for redemption, except for the unredeemed
portion of any Series X Note being redeemed in part. Also, the Company need not exchange or
register the transfer of any Series X Notes for a period of 15 days before a selection of Series X
Notes to be redeemed or during the period between a record date and the corresponding Interest
Payment Date.

     9. Persons Deemed Owners. The registered Holder of a Series X Note may be treated as its
owner for all purposes.

     10. Amendment, Supplement and Waiver. The Indenture permits, with certain exceptions as
therein provided, the Trustee to enter into one or more supplemental indentures for the purpose of
adding any provisions to, or changing in any manner or eliminating any of the provisions of, the
Indenture with the consent of the Holders of not less than a majority in

A-4

 

aggregate principal amount of the Securities of all series then Outstanding under the
Indenture, considered as one class; provided, however, that if there shall be Securities of more
than one Series outstanding under the Indenture and if a proposed supplemental indenture shall
directly affect the rights of the Holders of Securities of one or more, but less than all, of such
series, then the consent only of the Holders of a majority in aggregate principal amount of the
Outstanding Securities of all series so directly affected, considered as one class, shall be
required; and provided, further, that if the Securities of any series shall have been issued in
more than one Tranche and if the proposed supplemental indenture shall directly affect the rights
of the Holders of Securities of one or more, but less than all, of such Tranches, then the consent
only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of
all Tranches so directly affected, considered as one class, shall be required; and provided,
further, that the Indenture permits the Trustee to enter into one or more supplemental indentures
for limited purposes without the consent of any Holders of Securities. The Indenture also contains
provisions permitting the Holders of a majority in principal amount of the Securities then
Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Series X Note shall be conclusive
and binding upon such Holder and upon all future Holders of this Series X Note and of any Series X
Note issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Series X Note.

     11. Events of Default. If an Event of Default shall occur and be continuing, the principal of
this Series X Note may be declared due and payable in the manner and with the effect provided in
the Indenture.

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

     13. Authentication. Unless the certificate of authentication hereon has been executed by the
Trustee or an Authenticating Agent by manual signature, this Series X Note shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

A-5

 

     14. Transfer and Exchange.

          (a) As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Series X Note is registrable in the Security Register, upon surrender of this
Series X Note for registration of transfer at the Corporate Trust Office of The Bank of New York
Mellon Trust Company, N.A. in New York, New York or such other office or agency as may be
designated by the Company from time to time, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed
by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new
Series X Notes of this series or authorized denominations and of like tenor and aggregate principal
amount, will be issued to the designated transferee or transferees.

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

          (c) Prior to due presentment of this Series X Note for registration of transfer, the Company,
the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this
Series X Note is registered as the absolute owner hereof for all purposes, whether or not this
Series X Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected
by notice to the contrary.

     15. Governing Law. The Series X Notes shall be governed by and construed in accordance with
the laws of the State of New York.

     16. Definition of Other Terms. All terms used in this Series X Note which are defined in the
Indenture or the Officer’s Certificate shall have the meanings assigned to them in the Indenture or
the Officer’s Certificate, as applicable, unless otherwise indicated.

     17. Abbreviations. Customary abbreviations may be used in the name of a Holder of Series X
Notes or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST
(= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

     18. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the
Series X Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to
Holders of Series X Notes. No representation is made as to the accuracy of such numbers either as
printed on the Series X Notes or as contained in any notice of redemption and reliance may be
placed only on the other identification numbers placed thereon.

A-6

 

     The Company shall furnish to any Holder of Series X Notes upon written request and without
charge a copy of the Indenture. Requests may be made to:

Nevada Power Company

d/b/a NV Energy

P.O. Box 230

6226 W. Sahara Avenue

Las Vegas, Nevada 89146

Attention: Chief Financial Officer

A-7

 

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

	 	 	 	 	 
	 	NEVADA POWER COMPANY d/b/a NV Energy

 	 
	 	By:  	 	 
	 

CERTIFICATE OF AUTHENTICATION

          This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

Dated:                                         

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON 

TRUST COMPANY, N.A., as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

A-8

 

	 	 	 	 	 

Assignment Form

To assign this Series X Note, fill in the form below: (I) or (we) assign and
transfer this Series X Note to

 

(Insert assignee’s soc. sec. or tax I.D. no.)

 

 

 

 

(Print or type assignee’s name, address and zip code)

and irrevocably appoint          
                      
                      
                      
                      
   
to transfer this Series X Note on the books of the Company. The agent may
substitute another to act for him.

 

	 	 	 

	Date:
	 	 
	Your Signature:
	 	 
	 

	 	 
	 

	 	(Sign exactly as your name appears on the face of this Series X Note)

SIGNATURE GUARANTEE

 

	 	 	 

	 

	 	Signatures must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Security
Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion
Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Security Registrar
in addition to, or in substitution for, STAMP, all in
accordance with the Securities Exchange Act of 1934,
as amended.

A-9

 

Option of Holder to Elect Purchase

     If you want to elect to have this Series X Note purchased by the Company pursuant to Section
1(h)(ii) (Offer to Purchase upon Change of Control) of the Officer’s Certificate, check the box
below:

     o  Section 1(h)(ii) (Offer to Purchase upon Change of Control)

     If you want to elect to have only part of this Series X Note purchased by the Company pursuant
to Section 1(h)(ii) (Offer to Purchase upon Change of Control) of the Indenture, state the amount
you elect to have purchased (must be in integral multiples of $1,000 in excess of $2,000):

     $                                        

	 	 	 

	Date:
	 	 
	 
	Your Signature: 
	 	 
	 

	 
	 

	 	(Sign exactly as your name appears on the face of the Series X Note)
	 
	Tax Identification No.: 

	 
	 

	 	 
	 

	 	 

SIGNATURE GUARANTEE

 

	 	 	 

	 

	 	Signatures must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Security
Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion
Program (“STAMP”) or such other “signature guarantee program”
as may be determined by the Security Registrar in addition
to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.

A-10

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