Document:

EX-10.5

 

Exhibit 10.5

AMENDMENT NO. 1

TO THE

AMENDED AND RESTATED

LIMITED LIABILITY COMPANY OPERATING AGREEMENT

OF PHH HOME LOANS, LLC

This Amendment (this “Amendment”), entered into as of the 12th day of May,
2005, by and between PHH Broker Partner Corporation, a Maryland corporation (the “PHH
Member”), and Cendant Real Estate Services Venture Partner, Inc., a Delaware corporation (the
“Cendant Member”), amends the Amended and Restated Limited Liability Company Operating
Agreement of PHH Home Loans, LLC, dated as of January 31, 2005, by and between the PHH Member and
the Cendant Member (the “LLC Agreement”).

Capitalized terms used in this Amendment without definition shall have the meanings given
to them in the LLC Agreement.

WHEREAS, the PHH Member and the Cendant Member desire to amend the LLC Agreement to
extend the date after which the Cendant Member may deliver to the PHH Member the Two-Year
Termination Notice from the eighth (8th) anniversary of the Closing Date to the tenth
(10th) anniversary of the Closing Date.

NOW, THEREFORE, in consideration of the premises and the mutual agreements set forth in
the LLC Agreement and this Amendment, the parties hereto, intending to be legally bound, hereby
agree as follows:

1. The first paragraph of Section 8.4(a) of the LLC Agreement shall be amended in
its entirety to read as follows:

(a) Two-Year Termination. At any time after the tenth
(10th) anniversary of the Closing Date, the Cendant Member may deliver to the
PHH Member a written notice (the “Two-Year Termination Notice”) requesting that the
PHH Member either (i) purchase or cause to be purchased (the “Two Year Put”) all of
the Interests held by the Cendant Member or any of its Affiliates on a date no earlier than
two years after such Two-Year Termination Notice is delivered to the PHH Member (“Two
Year Put Date”) or (ii) sell (the “Two Year PHH Sale”) all of the Interests
then held by the PHH Member and/or any of its Affiliates to a Person that is not affiliated
with Cendant (any such Person, for purposes of this Section 8.4, the “Cendant
Designated Buyer”) on a date no earlier than two years after such Two-Year Termination
Notice is delivered to the PHH Member (“Two Year Sale Date”).

 

 

2. Section 8.2(a)(iii) of the LLC Agreement shall be amended in its entirety to read
as follows:

(iii) “Termination Payment” means an amount equal to (A) the product
of (x) two (2) and (y) the actual Net Income of the Company for the trailing twelve months
(“LTM Net Income”), plus (B) all costs reasonably incurred by Cendant in unwinding
its relationship with
PHH pursuant to this Agreement and the other Transaction Documents and transitioning
to a new mortgage venture partner; provided, however, that in the case of a
Cendant Termination Event pursuant to a PHH Change in Control, in calculating the
Termination Payment, the LTM Net Income shall instead be multiplied by the number of years
(including fractions thereof) remaining until the twelfth (12th) anniversary of
the Closing Date; provided further, however, that if such PHH Change in
Control termination occurs on or after the tenth (10th) anniversary of the
Closing Date, the LTM Net Income shall be multiplied by two (2).

3. The term “Agreement” as used in the LLC Agreement shall be deemed to refer to the
LLC Agreement as amended hereby. Except as set forth herein, the LLC Agreement shall remain in full
force and effect and shall be otherwise unaffected hereby. In the event of any conflict or
inconsistency between the provisions of this Amendment, on the one hand, and the LLC Agreement, on
the other hand, with respect to the matters set forth herein and contemplated hereby, the
provisions of this Amendment shall govern such conflict or inconsistency.

4. This Amendment may be executed in any number of counterparts, and each of such
counterparts shall for all purposes be deemed an original, but all such counterparts shall together
constitute but one and the same agreement.

2

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment to the LLC Agreement,
effective as of the date first written above.

	 	 	 	 	 	 	 
	 	 	CENDANT REAL ESTATE SERVICES VENTURE
PARTNER, INC.
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ David Weaving
	 	 	 	 	 
	 

	 	 	 	Name:
	 	David Weaving
	 

	 	 	 	Title:
	 	Senior Vice President
	 
	 	 	 	 	 	 
	 	 	PHH BROKER PARTNER CORPORATION
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Joseph E. Suter
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Joseph E. Suter
	 

	 	 	 	Title:
	 	President

3EX-4.1

 

Exhibit 4.1

FIFTH SUPPLEMENTAL INDENTURE FOR

ADDITIONAL SUBSIDIARY GUARANTEES

     Fifth Supplemental Indenture (this “Supplemental Indenture for Additional
Guarantees”), dated as of April 28, 2006, among the guaranteeing subsidiaries listed on
Schedule A hereto (the “Guaranteeing Subsidiaries”), each an indirect subsidiary of NRG
Energy, Inc., a Delaware corporation (the “Company”), the Company, the Existing Guarantors set
forth on the signature page hereto (the “Existing Guarantors”) and Law Debenture Trust Company of
New York, as trustee under the indentures referred to below (the “Trustee”).

W I T N E S S E T H

     WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the
“Base Indenture”), dated as of February 2, 2006, between the Company and the Trustee, as amended by
a first supplemental indenture (the “First Supplemental Indenture”), dated as of February 2, 2006,
among the Company, the Guarantors named therein and the Trustee, providing for the original
issuance of an aggregate principal amount of $1,200 million of 7.250% Senior Notes due 2014 (the
“Initial Notes”), and, subject to the terms of the Indenture, future unlimited issuances of 7.250%
Senior Notes due 2014 (the “Additional Notes,” and together with the Initial Notes, the “Notes”),
and a third supplemental indenture (together with the Base Indenture and the First Supplemental
Indenture, the “Indenture”), dated as of March 14, 2006, among the Company, the Existing Guarantors
and the Trustee;

     WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiaries
shall execute and deliver to the Trustee a supplemental indenture pursuant to which the
Guaranteeing Subsidiaries shall unconditionally guarantee all of the Company’s Obligations under
the Notes and the Indenture (the “Additional Guarantees”); and

     WHEREAS, pursuant to Section 4.17 of the First Supplemental Indenture, the Trustee, the
Company and the other Guarantors are authorized and required to execute and deliver this
Supplemental Indenture for Additional Guarantees.

     NOW THEREFORE, in consideration of the foregoing and for good and valuable consideration, the
receipt of which is hereby acknowledged, the Guaranteeing Subsidiaries, the Trustee, the Company
and the other Guarantors mutually covenant and agree for the equal and ratable benefit of the
Holders of the Notes as follows:

     1.      Capitalized Terms. Unless otherwise defined in this Supplemental Indenture for Additional
Guarantees, capitalized terms used herein without definition shall have the meanings assigned to
them in the Indenture.

     2.      Agreement to be Bound; Guarantee. Each of the Guaranteeing Subsidiaries hereby becomes a
party to the First Supplemental Indenture as a Guarantor and as such will have all of the rights
and be subject to all of the Obligations and agreements of a Guarantor under the Indenture. Each
of the Guaranteeing Subsidiaries hereby agrees to be bound by all of the provisions of the First
Supplemental Indenture applicable to a Guarantor and to perform all of the Obligations and
agreements of a Guarantor under the First Supplemental Indenture. In furtherance of the foregoing,
each of the Guaranteeing Subsidiaries shall be deemed a Guarantor for purposes of Article 10 of the
First Supplemental Indenture, including, without limitation, Section 10.02 thereof.

     3.      NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED
TO CONSTRUE THIS SUPPLEMENTAL

1

 

INDENTURE FOR ADDITIONAL GUARANTEES BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF
CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE
REQUIRED THEREBY.

     4.      Counterparts. The parties may sign any number of copies of this Supplemental Indenture for
Additional Guarantees. Each signed copy shall be an original, but all of them together represent
the same agreement.

     5.      Effect of Headings. The Section headings herein are for convenience only and shall not
affect the construction hereof.

     6.      The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in
respect of the validity or sufficiency of this Supplemental Indenture for Additional Guarantees or
for or in respect of the recitals contained herein, all of which recitals are made solely by the
Guaranteeing Subsidiaries and the Company.

     7.      Ratification of Indenture; Supplemental Indenture for Additional Guarantees Part of
Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and
confirmed and all the terms, conditions and provisions thereof shall remain in full force and
effect. This Supplemental Indenture for Additional Guarantees shall form a part of the Indenture
for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered
shall by bound hereby.

2

 

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture for Additional
Guarantees to be duly executed and attested, all as of the date first above written.

Guaranteeing Subsidiaries:

CABRILLO POWER I LLC

CABRILLO POWER II LLC

LONG BEACH GENERATION LLC

EL SEGUNDO POWER LLC

EL SEGUNDO POWER II LLC

WCP (GENERATION) HOLDINGS LLC

WEST COAST POWER LLC

	 	 	 	 	 
	 	 	 
	 	By:  	                    /s/ George P. Schaefer
 	 
	 	Name: 	George P. Schaefer 	  	 
	 	Title: 	Treasurer 	  	 
	 

Issuer:

NRG ENERGY, INC.

	 	 	 	 	 
	 	 	 
	 	By:  	                     /s/ George P. Schaefer
 	 
	 	Name:  	George P. Schaefer 	 	 
	 	Title:  	Vice President and Treasurer 	 	 
	 

Existing Guarantors:

ARTHUR KILL POWER LLC

ASTORIA GAS TURBINE POWER LLC

BERRIANS I GAS TURBINE POWER LLC

BIG CAJUN II UNIT 4 LLC

CAPISTRANO COGENERATION COMPANY

CHICKAHOMINY RIVER ENERGY CORP.

COMMONWEALTH ATLANTIC POWER LLC

CONEMAUGH POWER LLC

CONNECTICUT JET POWER LLC

DEVON POWER LLC

DUNKIRK POWER LLC

EASTERN SIERRA ENERGY COMPANY

HANOVER ENERGY COMPANY

HUNTLEY POWER LLC

INDIAN RIVER OPERATIONS INC.

INDIAN RIVER POWER LLC

JAMES RIVER POWER LLC

KAUFMAN COGEN LP

KEYSTONE POWER LLC

LOUISIANA GENERATING LLC

 

 

MIDDLETOWN POWER LLC

MONTVILLE POWER LLC

NEO CALIFORNIA POWER LLC

NEO CHESTER-GEN LLC

NEO CORPORATION

NEO FREEHOLD-GEN LLC

NEO LANDFILL GAS HOLDINGS INC.

NEO POWER SERVICES INC.

NEW GENCO GP, LLC

NORWALK POWER LLC

NRG AFFILIATE SERVICES INC.

NRG ARTHUR KILL OPERATIONS INC.

NRG ASIA-PACIFIC, LTD.

NRG ASTORIA GAS TURBINE OPERATIONS, INC.

NRG BAYOU COVE LLC

NRG BLOCKER I LP

NRG BLOCKER II LP

NRG BLOCKER III INC.

NRG BLOCKER IV INC.

NRG BLOCKER V INC.

NRG BLOCKER VI INC.

NRG BLOCKER VII INC.

NRG CABRILLO POWER OPERATIONS INC.

NRG CADILLAC OPERATIONS INC.

NRG CALIFORNIA PEAKER OPERATIONS LLC

NRG CONNECTICUT AFFILIATE SERVICES INC.

NRG DEVON OPERATIONS INC.

NRG DUNKIRK OPERATIONS INC.

NRG EL SEGUNDO OPERATIONS INC.

NRG HUNTLEY OPERATIONS INC.

NRG INTERNATIONAL LLC

NRG KAUFMAN LLC

NRG MESQUITE LLC

NRG MIDATLANTIC AFFILIATE SERVICES INC.

NRG MIDDLETOWN OPERATIONS INC.

NRG MONTVILLE OPERATIONS INC.

NRG NEW JERSEY ENERGY SALES LLC

NRG NEW ROADS HOLDINGS LLC

NRG NORTH CENTRAL OPERATIONS INC.

NRG NORTHEAST AFFILIATE SERVICES INC.

NRG NORWALK HARBOR OPERATIONS INC.

NRG OPERATING SERVICES, INC.

NRG OSWEGO HARBOR POWER OPERATIONS INC.

NRG POWER MARKETING INC.

NRG ROCKY ROAD LLC

NRG SAGUARO OPERATIONS INC.

NRG SOUTH CENTRAL AFFILIATE SERVICES INC.

NRG SOUTH CENTRAL GENERATING LLC

NRG SOUTH CENTRAL OPERATIONS INC.

NRG TEXAS LLC

NRG WEST COAST LLC

 

 

NRG WESTERN AFFILIATE SERVICES INC.

OSWEGO HARBOR POWER LLC

SAGUARO POWER LLC

SOMERSET OPERATIONS INC.

SOMERSET POWER LLC

TEXAS GENCO FINANCING CORP.

TEXAS GENCO GP, LLC

TEXAS GENCO HOLDINGS, INC.

TEXAS GENCO OPERATING SERVICES LLC

VIENNA OPERATIONS INC.

VIENNA POWER LLC

	 	 	 	 	 
	 	 	 
	 	By:  	                        /s/ George P. Schaefer
 	 
	 	Name: 	George P. Schaefer 	  	 
	 	Title:  	Treasurer 	 	 
	 

GCP FUNDING COMPANY, LLC

NEW GENCO LP, LLC

TEXAS GENCO LP, LLC

	 	 	 	 	 
	 	 	 
	 	By:  	                        /s/ Susan T. Dubb
 	 
	 	Name: 	Susan T. Dubb 	  	 
	 	Title: 	Treasurer and Secretary 	 	  
	 

NRG SOUTH TEXAS LP

By: Texas Genco GP, LLC, its General Partner

	 	 	 	 	 
	 	 	 
	 	By:  	                     /s/ George P. Schaefer
 	 
	 	Name: 	George P. Schaefer 	 	  
	 	Title: 	Vice President and Treasurer 	 	  
	 

NRG TEXAS LP

TEXAS GENCO SERVICES, LP

By: New Genco GP, LLC, its General Partner

	 	 	 	 	 
	 	 	 
	 	By:  	                                       /s/ George P. Schaefer
 	 
	 	Name: 	George P. Schaefer 	 	  
	 	Title: 	Vice President and Treasurer 	 	  
	 

Attest:

 /s/ Tanuja M. Dehne

Name: Tanuja M. Dehne

Title: Corporate Secretary

 

 

	 	 	 	 	 
	 	LAW DEBENTURE TRUST COMPANY OF NEW YORK,

as Trustee

 	 
	 	By:  	/s/ Adam Berman
 	 
	 	Name:  	Adam Berman 	 
	 	Title:  	Vice President 	 
	 

 

 

SCHEDULE A

SCHEDULE OF GUARANTEEING SUBSIDIARIES

1.      Cabrillo Power I LLC, a Delaware limited liability company

2.       Cabrillo Power II LLC, a Delaware limited liability company

3.       Long Beach Generation LLC, a Delaware limited liability company

4.       El Segundo Power LLC, a Delaware limited liability company

5.       El Segundo Power II LLC, a Delaware limited liability company

6.       WCP (Generation) Holdings LLC, a Delaware limited liability company

7.       West Coast Power LLC, a Delaware limited liability company

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