Document:

Exhibit

Exhibit 10.1

2020 INCREMENTAL AMENDMENT TO CREDIT AGREEMENT

This 2020 INCREMENTAL AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of April 1, 2020, is entered into by and among THE BRINK’S COMPANY, a Virginia corporation (the “Parent Borrower”), certain subsidiaries of the Parent Borrower party hereto as guarantors (the “Guarantors”, and, collectively with the Parent Borrower, the “Increase Credit Parties”) under the Credit Agreement, each 2020 Increase Lender (as defined below) and BANK OF AMERICA, N.A. (“Bank of America”), as administrative agent, an Issuing Lender and the Swingline Lender (in such capacity, the “Administrative Agent”).

RECITALS
WHEREAS, the Credit Parties (as defined in the Credit Agreement (defined below)), the Administrative Agent and the banks and other financial institutions party thereto (the “Existing Lenders”) are parties to that certain Credit Agreement, dated as of October 17, 2017 (as previously amended, as amended hereby, and as further amended, restated, extended, supplemented or otherwise modified from time to time, the “Credit Agreement” and the Credit Agreement prior to giving effect to this Amendment being referred to as the “Existing Credit Agreement”), pursuant to which the Existing Lenders have extended revolving credit facilities and a term loan facility to the Borrowers; 
WHEREAS, the Borrowers have requested that certain Lenders agree, in accordance with the provisions of Section 2.8 of the Existing Credit Agreement, to increase the aggregate principal amount of the Term Loan Facility (as defined in the Existing Credit Agreement) provided to the Parent Borrower with Incremental Term Loan Commitments (as defined in the Existing Credit Agreement) in an aggregate principal amount of $590,000,000 (the “2020 Term Loan Increase”), and to amend certain provisions of the Existing Credit Agreement, as more particularly set forth below, in connection with the 2020 Term Loan Increase;

WHEREAS, the Administrative Agent, the Existing Lenders party to this Amendment and (if any) certain other banks and financial institutions party to this Amendment (the “New Lenders” and collectively with the Existing Lenders providing a portion of the 2020 Term Loan Increase, the “2020 Increase Lenders”) are willing to provide the 2020 Term Loan Increase as provided in, and on the terms and conditions contained in, this Amendment (which shall constitute an Incremental Facility Amendment (as defined in the Existing Credit Agreement)); and

WHEREAS, the 2020 Increase Lenders are also willing to consent to the 2020 Term Loan Increase, and the requested amendments to the Existing Credit Agreement and the Facility Adjustments (as defined below) set forth herein in connection with the 2020 Term Loan Increase, all as provided in, and on the terms and conditions contained in, this Amendment.

NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto hereby agree, as applicable, as follows:
1.Defined Terms.  Unless otherwise defined herein, capitalized terms used herein shall have the meanings, if any, assigned to such terms in the Credit Agreement.  
2.    Amendments and Facility Adjustments.  Subject to the terms and conditions hereof and in accordance with Sections 2.8 and 13.9 of the Existing Credit Agreement, upon the Effective Date (as defined below):
(a)    the Existing Credit Agreement is hereby amended to increase the Term Loan by the 2020 Term Loan Increase, to be provided on the Effective Date by the 2020 Increase Lenders in the amounts set forth on Annex I hereto;
(b)    each 2020 Increase Lender agrees to fund its portion of the 2020 Term Loan Increase in the amount set forth on Annex I hereto on the Effective Date;
(c)    notwithstanding anything to the contrary in the Existing Credit Agreement or the Credit Agreement, in connection with the 2020 Term Loan Increase hereunder, each party hereto agrees (i) to any adjustments to be made to the Register to effectuate the 2020 Term Loan Increase and the 2020 Increase Lenders, (ii) that the initial Interest Period or Interest Periods with respect to the Term Loans advanced on the Effective Date pursuant to the 2020 Term Loan Increase shall be of a length or lengths so as to terminate on the same date as the Interest Period or Interest Periods (ratably among them, if applicable) with respect to the Term Loans in effect on the Effective Date prior to the 2020 Term Loan Increase, and (iii) the 2020 Term Loan Increase shall (A) become and be a portion of the Term Loan, (B) have the same pricing (including Applicable Percentage) and Term Loan Maturity Date as the Initial Term Loan, (C) be payable, repayable and prepayable in the same manner as the Term Loan, including amortization pursuant to Section 2.5(c) of the Credit Agreement (as calculated by the Administrative Agent as if the 2020 Term Loan Increase were a portion of the Initial Term Loan advanced and outstanding on the First Amendment Effective Date) and (D) otherwise be subject to the same terms and conditions as the Term Loan under the Credit Agreement and the other Loan Documents;
(d)    in connection with the 2020 Term Loan Increase, the Administrative Agent may make such adjustments between and among the Lenders to the Term Loan (including Existing Lenders and New Lenders) as are reasonably necessary to effectuate the 2020 Term Loan Increase, so that the Term Loan and the Ratable Shares of the Lenders to the Term Loan includes the 2020 Term Loan Increase as of the Effective Date;  
(e)    notwithstanding anything to the contrary in the Existing Credit Agreement or the Credit Agreement, each Lender agrees that the conditions to the 2020 Term Loan Increase, the advance of the Term Loans pursuant to the 2020 Term Loan Increase and the effectiveness of this Amendment are limited to the conditions set forth in Section 5 of this Amendment below; and 
(f)    to the extent not otherwise a Lender prior to the date of this Amendment, the New Lenders providing a portion of the 2020 Term Loan Increase are parties to this Amendment for the purposes of agreeing to the Credit Agreement, becoming party thereto and becoming bound by the provisions thereof in the capacity of a Lender and providing their portion of the 2020 Term Loan Increase.
3.    Joinder of New Lenders.  By its execution of this Amendment, each New Lender hereby confirms and agrees that, on and after the Effective Date, it shall be a party to the Credit Agreement as a Lender, shall have all of the rights and be obligated to perform all of the obligations of a Lender thereunder.  Each New Lender severally, and not jointly, further (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Amendment and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an Assignee under Section 13.7(b) of the Credit Agreement (subject to receipt of such consents as may be required under the Credit Agreement, which such consents shall be deemed provided, to the extent required, by each Person that executes this Amendment), (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and shall have the obligations of a Lender thereunder, and (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 7.1 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into the Credit Agreement on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent, any other Lender, agent or arranger; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations that by the terms of the Loan Documents are required to be performed by it as a Lender.
4.    Representations and Warranties.  The Parent Borrower and each of the other Increase Credit Parties, by its execution of this Amendment, hereby represents and warrants to the Administrative Agent and the Lenders as of the Effective Date as follows:
(a)    the execution, delivery and performance by such Increase Credit Party of this Amendment have been duly authorized by all necessary corporate or other organizational action and do not and will not (i) require any consent or approval of the shareholders or members of such Increase Credit Party, (ii) violate any provision of any law, rule, regulation (including, without limitation, Regulation T, U or X of the Board), order, writ, judgment, injunction, decree, determination, or award presently in effect having applicability to such Increase Credit Party or any Restricted Subsidiary or of the constitutional documents, charter or bylaws of such Increase Credit Party or any Restricted Subsidiary, (iii) result in a breach of or constitute a default under any material indenture or loan or credit agreement or any other material agreement, lease, or instrument to which such Increase Credit Party or any Restricted Subsidiary is a party or by which it or its properties may be bound or affected, or (iv) result in the creation of a Lien of any nature upon or with respect to any of the properties now owned or hereafter acquired by such Increase Credit Party or any Restricted Subsidiary (other than Permitted Liens);
(b)    this Amendment has been duly executed and delivered by such Increase Credit Party, and this Amendment, the Credit Agreement and each other Loan Document (in each case, as amended hereby) constitutes a legal, valid and binding obligation of each such Increase Credit Party, enforceable against each such Increase Credit Party in accordance with its terms except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Debtor Relief Laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies;
(c)    the representations and warranties of such Increase Credit Party contained in Article VI of the Credit Agreement and in each other Loan Document are true and correct in all material respects (except to the extent any such representation and warranty is qualified by materiality or reference to Material Adverse Effect, in which case, such representation and warranty shall be true, correct and complete in all respects) on and as of the Effective Date, except to the extent that such representations and warranties specifically relate to an earlier date, in which case they shall remain true and correct in all material respects as of such earlier date, and except that for purposes of this clause (c), the representations and warranties contained in Section 6.1(g) of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to Sections 7.1(a)(i) and (a)(ii) of the Credit Agreement, as applicable; 
(d)    immediately before and after the effectiveness of this Amendment on the Effective Date, the borrowing of Term Loans pursuant to the 2020 Term Loan Increase, and any Acquisition (including any or all of the G4S Acquisitions (as defined below)) occurring on or prior to the Effective Date and all other related transactions occurring on or prior to the Effective Date, no Default or Event of Default has occurred and is continuing; and
(e)    since December 31, 2017 nothing shall have occurred (and neither the Administrative Agent nor the Lenders shall have become aware of any facts or conditions not previously known) which has had a Material Adverse Effect.
5.    Effectiveness; Conditions Precedent.  The effectiveness of this Amendment and the amendments to the Credit Agreement herein provided are subject to the satisfaction of the following conditions precedent (the date of such satisfaction, the “Effective Date”):
(a)    receipt by the Administrative Agent of at least one fully executed copy of this Amendment, executed by the Parent Borrower, each other Increase Credit Party, each 2020 Increase Lender and the Administrative Agent; 
(b)    receipt by the Administrative Agent from the Parent Borrower of evidence demonstrating, in form and substance reasonably satisfactory to the Administrative Agent, that (i) the Parent Borrower is in compliance with the financial covenants set forth in Section 9.1 of the Credit Agreement, in each case based on the financial statements most recently delivered pursuant to Section 7.1(a)(i) or 7.1(a)(ii), as applicable, on a pro forma basis immediately after giving effect to the effectiveness of this Amendment on the Effective Date, the borrowing of Term Loans pursuant to the 2020 Term Loan Increase, and any Acquisition (including any or all of the G4S Acquisitions) occurring on or prior to the Effective Date and all other related transactions occurring on or prior to the Effective Date and (ii) the aggregate principal amount of the 2020 Term Loan Increase is within the Incremental Facilities Limit (and any necessary calculations with respect thereto);
(c)    receipt by the Administrative Agent of a certificate from a Responsible Officer, in form and substance reasonably satisfactory to the Administrative Agent, to the effect that (i) all representations and warranties contained in Section 4 of this Amendment are true and correct in all material respects (except to the extent any such representation and warranty is qualified by materiality or reference to Material Adverse Effect, in which case, such representation and warranty shall be true, correct and complete in all respects); (ii) no Credit Party is in violation of any of the covenants contained in this Amendment, the Credit Agreement and the other Loan Documents; (iii) all governmental and third party approvals necessary or, in the reasonable discretion of the Administrative Agent, advisable in connection with the effectiveness hereof and the financing contemplated hereby shall have been obtained and be in full force and effect, and all applicable waiting periods shall have expired without any action being taken or threatened by any competent authority that would restrain, prevent or otherwise impose adverse conditions on the effectiveness hereof or the financing contemplated hereby; (iv) there does not exist any judgment, order, injunction or other restraint issued or filed or a hearing seeking injunctive relief or other restraint pending or notified prohibiting the transactions contemplated by this Amendment, the Credit Agreement as amended by this Amendment and the other Loan Documents or otherwise referred to herein or therein; (v) at least one G4S Acquisition (A) has been consummated prior to, (B) is being consummated substantially simultaneously with, or (C) was previously notified to the Administrative Agent and the 2020 Increase Lenders at least three Business Days prior to the Effective Date (and the Administrative Agent and the 2020 Increase Lenders shall have received such notice) to be expected to be consummated within three Business Days after the Effective Date; and (vi) each of the conditions in this Section 5 has been satisfied or waived (assuming satisfaction of the Administrative Agent where not advised otherwise);
(d)    receipt by the Administrative Agent of a certificate of the secretary, assistant secretary or general counsel of each Increase Credit Party certifying as to the incumbency and genuineness of the signature of each officer of such Increase Credit Party executing this Amendment and certifying that attached thereto is a true, correct and complete copy of (i) the articles of incorporation or comparable organizational documents, if any, of such Increase Credit Party and all amendments thereto, certified as of a recent date by the appropriate Governmental Authority in its jurisdiction of incorporation for such Increase Credit Party, or, in any relevant case in this clause (i), certification that such documents have not been altered, amended, revoked or otherwise modified since those delivered on or about the First Amendment Effective Date (and each remains in full force and effect), (ii) the bylaws or comparable organizational documents, if any, of such Increase Credit Party as in effect on the date of such certifications, or, in any relevant case, certification that such documents have not been altered, amended, revoked or otherwise modified since those delivered on or about the First Amendment Effective Date (and each remains in full force and effect)), (iii) resolutions duly adopted by the Board of Directors or comparable governing body of such Increase Credit Party authorizing, as applicable, the borrowings contemplated under the 2020 Term Loan Increase (or the guarantee thereof) and the execution, delivery and performance of this Amendment, or, in any relevant case (subject to the reasonable satisfaction of the Administrative Agent), certification that the resolutions delivered on or about the First Amendment Effective Date have not been altered, amended, revoked or otherwise modified, and each remains in full force and effect, and (iv) certificates as of a recent date of the good standing or active status, as applicable, of the Increase Credit Parties under the laws of their respective jurisdictions of organization;
(e)    the Parent Borrower shall deliver or cause to be delivered opinions in form and substance reasonably satisfactory to the Administrative Agent of (i) the assistant general counsel of the Parent Borrower and (ii) Hunton Andrews Kurth LLP, special counsel to the Increase Credit Parties, in each case, addressed to the Administrative Agent and the Lenders with respect to such Increase Credit Parties, this Amendment, the Credit Agreement as amended by this Amendment, and such other matters as the Administrative Agent shall reasonably request, and which such opinions shall permit reliance by permitted assigns of each of the Administrative Agent and the Lenders;
(f)    delivery to the Administrative Agent and the 2020 Increase Lenders of (i) the quality of earnings report of E&Y with respect to the G4S Acquisitions and (ii) projected financial statements through the Specified Maturity Date on an annual basis for the Parent Borrower and its Subsidiaries after the giving effect to the G4S Acquisitions;
(g)    the Parent Borrower shall have paid any accrued and unpaid fees, commissions and out of pocket expenses due hereunder, under the Credit Agreement or under the engagement letter between the Parent Borrower and BofA Securities, Inc. dated as of March 6, 2020 (including, without limitation, reasonable legal fees and out-of-pocket expenses for which invoices have been presented) to the Administrative Agent and 2020 Increase Lenders, and to any other Person such amount as may be due thereto in connection with the transactions contemplated hereby, including all taxes, fees and other charges in connection therewith;
(h)    except as set forth in the Current SEC Reports, as of the Effective Date, there shall be no actions, suits or proceedings pending or, to the knowledge of a Responsible Officer, threatened (i) with respect to this Amendment, the Credit Agreement or any other Loan Document or (ii) which the Administrative Agent or a majority of the 2020 Increase Lenders reasonably believe would reasonably be expected to have a Material Adverse Effect;
(i)    the 2020 Increase Lenders shall have received at least five Business Days in advance of the Effective Date (x) all documentation and other information that is required by regulatory authorities under Anti-Money Laundering Laws, including, without limitation, the USA Patriot Act and any applicable “know your customer” rules and regulations, to the extent requested in writing at least ten Business Days prior to the Effective Date and (y) with respect to each 2020 Increase Lender that so requests at least fifteen Business Days prior to the Effective Date, if any Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to such Borrower; and
(j)    receipt by the Administrative Agent of a Notice of Borrowing from the Parent Borrower with respect to the Term Loans under the 2020 Term Loan Increase on the Effective Date.
The occurrence of the Effective Date and the acceptance by the Increase Credit Parties of the benefits of the 2020 Term Loan Increase shall constitute a representation and warranty by the Parent Borrower to the Administrative Agent and each of the 2020 Increase Lenders that all the conditions specified in this Section 5 have been satisfied as of that time.  All of the certificates, legal opinions and other documents and papers referred to in this Section 5, unless otherwise specified, shall be delivered to the Administrative Agent for the account of each of the 2020 Increase Lenders and shall be in form and substance reasonably satisfactory to the Administrative Agent.
For purposes hereof, “G4S Acquisition” means any one of the Acquisitions to be made by the Parent Borrower and/or its Subsidiaries pursuant to (i) that certain several Share Purchase Agreement dated as of February 26, 2020 by and between G4S PLC, a company incorporated in England and Wales with registered number 04992207 and whose registered office is at 5th Floor, Southside, 105 Victoria Street, London, United Kingdom SW1E 6QT (including one or more of its affiliates parties to any Purchase Agreement, the “Seller”) and the Parent Borrower (in such capacity, the “Buyer”), (ii) that certain Second Share Purchase Agreement dated as of February 26, 2020 by and between the Seller and the Buyer and/or (iii) any additional Share Purchase Agreement (or similar document to effectuate a portion of the G4S Acquisitions) by and between the Seller (or any affiliate thereof) and the Buyer (or any affiliate thereof).  “G4S Acquisitions” means all such Acquisitions, collectively.
6.    No Novation; Reaffirmation.  Neither the execution and delivery of this Amendment nor the consummation of any other transaction contemplated hereunder is intended to constitute a novation of the Existing Credit Agreement, the Credit Agreement or of any of the other Loan Documents or any obligations thereunder. Each Increase Credit Party (and the Parent Borrower on behalf of the Credit Parties that are not Increase Credit Parties) (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its obligations under the Loan Documents as amended hereby, (c) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge any Credit Party’s obligations under the Loan Documents, and (d) confirms that the Security Documents and the Liens granted thereunder remain in full force and effect notwithstanding the entry into this Amendment.
7.    Miscellaneous.
(a)    Except as herein expressly amended, all terms, covenants and provisions of the Existing Credit Agreement and each other Loan Document are and shall remain in full force and effect.  All references in any Loan Document to the “Credit Agreement” or “this Agreement” (or similar terms intended to reference the Credit Agreement) or any references to any “Loan Document” shall henceforth refer to the Credit Agreement as amended by this Amendment or the Loan Documents as amended by this Amendment, as applicable.  This Amendment shall be deemed incorporated into, and a part of, the Credit Agreement.
(b)    This Amendment shall be binding upon and inure to the benefit of the parties hereto, each other Lender and each other Credit Party, and their respective successors and assigns.
(c)    THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.  IN ADDITION, AND WITHOUT LIMITING THE FOREGOING, THIS AMENDMENT IS SUBJECT TO THE PROVISIONS OF SECTIONS 13.3, 13.4 AND 13.5 OF THE CREDIT AGREEMENT RELATING TO GOVERNING LAW, VENUE AND WAIVER OF RIGHT TO TRIAL BY JURY, THE PROVISIONS OF WHICH ARE BY THIS REFERENCE INCORPORATED HEREIN IN FULL.
(d)    This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This Amendment and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.  This Amendment shall become effective upon satisfaction of the conditions set forth in Section 5 hereof.    Delivery of an executed counterpart of a signature page of this Amendment by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment.  This Amendment may not be amended except in accordance with the provisions of Section 13.9 of the Credit Agreement.
(e)    If any provision of this Amendment or the other Loan Documents is held to be illegal, invalid or unenforceable, (i) the legality, validity and enforceability of the remaining provisions of this Amendment and the other Loan Documents shall not be affected or impaired thereby and (ii) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.  The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.  
(f)    The Parent Borrower agrees to pay, in accordance with and subject to the limitations in Section 13.2 of the Credit Agreement, all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent and its Affiliates in connection with the preparation, execution, delivery, administration of this Amendment and the other instruments and documents to be delivered hereunder.
(g)    None of this Amendment, the Credit Agreement, nor any other Loan Document shall release, limit or impair in any way the priority of any security interests and liens held by the Administrative Agent for the benefit of the Secured Parties against any assets of the Parent Borrower, any other Borrower, or any Guarantor arising under the Credit Agreement or any other Loan Documents, as each may be amended, restated, supplemented or modified from time to time.
(h)    Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders or the Administrative Agent under the Existing Credit Agreement, the Credit Agreement, or any other Loan Document.  Except as expressly set forth herein, nothing herein shall be deemed to entitle the Parent Borrower or any other Credit Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement, the Credit Agreement or any other Loan Document in similar or different circumstances.
(i)    This Amendment shall constitute a “Loan Document” under and as defined in the Credit Agreement.
(j)    Each New Lender party hereto hereby makes, as of the Effective Date, the representations and warranties contained in Section 12.13 of the Credit Agreement.  
[Signature Pages Follow.]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.
PARENT BORROWER AND AS A GUARANTOR:
THE BRINK’S COMPANY
By:    /s/ Richard K. von Seelen    
		
	Name:
	Richard K. von Seelen

		
	Title:
	Treasurer

GUARANTORS:
PITTSTON SERVICES GROUP INC. 
By:    /s/ Richard K. von Seelen    
		
	Name:
	Richard K. von Seelen

		
	Title:
	Treasurer     

BRINK’S HOLDING COMPANY 
By:    /s/ Richard K. von Seelen    
		
	Name:
	Richard K. von Seelen

		
	Title:
	Treasurer 

BRINK’S, INCORPORATED
By:    /s/ Richard K. von Seelen    
		
	Name:
	Richard K. von Seelen

		
	Title:
	Treasurer 

BRINK’S GLOBAL SERVICES USA, INC.
By:    /s/ Richard K. von Seelen    
		
	Name:
	Richard K. von Seelen

Title:    Authorized Officer
BRINK’S NETWORK, INCORPORATED
By:    /s/ Richard K. von Seelen    
		
	Name:
	Richard K. von Seelen

		
	Title:
	Treasurer    

BRINK’S SECURITY INTERNATIONAL, INC.
By:    /s/ Richard K. von Seelen    
		
	Name:
	Richard K. von Seelen

		
	Title:
	Treasurer

    
 

ADMINISTRATIVE AGENT AND LENDERS:
BANK OF AMERICA, N.A., as Administrative Agent
By:    /s/ Anthony W. Kell    
		
	Name:
	Anthony W. Kell

		
	Title:
	Vice President

BANK OF AMERICA, N.A., as a 2020 Increase Lender
By:    /s/ Stephen J. D’Elia    
		
	Name:
	Stephen J. D’Elia

		
	Title:
	Vice President

TRUIST BANK, as a 2020 Increase Lender
By:    /s/ Max N. Greer III    
		
	Name:
	Max N. Greer III

		
	Title:
	Senior Vice President

JPMORGAN CHASE BANK, N.A., as a 2020 Increase Lender
By:    /s/ Joon Hur    
		
	Name:
	Joon Hur

		
	Title:
	Executive Director

MUFG UNION BANK, N.A., as a 2020 Increase Lender
By:    /s/ Liwei Liu    
		
	Name:
	Liwei Liu

		
	Title:
	Vice President

WELLS FARGO BANK, NATIONAL ASSOCIATION, as a 2020 Increase Lender
By:    /s/ Rich Zell    
		
	Name:
	Rich Zell

		
	Title:
	Director

BNP PARIBAS, as a 2020 Increase Lender
By:    /s/ Andrew-Sebastien Aschehoug    
		
	Name:
	Andrew-Sebastien Aschehoug

		
	Title:
	Director

By:    /s/ Richard Pace    
		
	Name:
	Richard Pace

		
	Title:
	Managing Director

CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, as a 2020 Increase Lender
By:    /s/ Dominic Sorresso    
		
	Name:
	Dominic Sorresso

		
	Title:
	Authorized Signatory

By:    /s/ Melissa Brown    
		
	Name:
	Melissa Brown

		
	Title:
	Authorized Signatory

BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH, as a 2020 Increase Lender
By:    /s/ Brian Crowley    
		
	Name:
	Brian Crowley

		
	Title:
	Managing Director

By:    /s/ Miriam Trautmann    
		
	Name:
	Miriam Trautmann

		
	Title:
	Senior Vice President

PNC BANK, NATIONAL ASSOCIATION, as a 2020 Increase Lender
By:    /s/ David Notaro    
		
	Name:
	David Notaro

		
	Title:
	Senior Vice President

M&T BANK, as a 2020 Increase Lender
By:    /s/ Andrew J. McNulty    
		
	Name:
	Andrew J. McNulty

		
	Title:
	Vice President

U.S. BANK NATIONAL ASSOCIATION, as a 2020 Increase Lender
By:    /s/ Rodney J. Winters    
		
	Name:
	Rodney J. Winters

		
	Title:
	Vice President

CITIZENS BANK. N.A., as a 2020 Increase Lender
By:    /s/ Douglas Kennedy    
		
	Name:
	Douglas Kennedy

		
	Title:
	Senior Vice President

FIFTH THIRD BANK, as a 2020 Increase Lender
By:    /s/ Kelly Shield    
		
	Name:
	Kelly Shield

		
	Title:
	Director

REGIONS BANK, as a 2020 Increase Lender
By:    /s/ Brand Hosford    
		
	Name:
	Brand Hosford

		
	Title:
	Vice President

THE HUNTINGTON NATIONAL BANK, as a 2020 Increase Lender
By:    /s/ Phil Andresen    
		
	Name:
	Phil Andresen

		
	Title:
	Vice President

ATLANTIC UNION BANK, as a 2020 Increase Lender
By:    /s/ Charles B. Vaughters    
		
	Name:
	Charles B. Vaughters

		
	Title:
	Director – Corporate Banking

HSBC BANK USA, N.A., as a 2020 Increase Lender
By:    /s/ Robert J. Levins    
		
	Name:
	Robert J. Levins

		
	Title:
	SVP Team Lead

KEYBANK NATIONAL ASSOCIATION, as a 2020 Increase Lender

By:    /s/ Tanille Ingle    
		
	Name:
	Tanille Ingle

		
	Title:
	Assistant Vice President

Annex I

(to 2020 Incremental Amendment to Credit Agreement)

	
		
	2020 Increase Lenders
	Incremental Term Loan Commitments

	Bank of America, N.A.
	$75,000,000.00

	Truist Bank
	$65,000,000.00

	JPMorgan Chase Bank, N.A.
	$50,000,000.00

	MUFG Union Bank, N.A.
	$50,000,000.00

	Wells Fargo Bank, National Association
	$50,000,000.00

	BNP Paribas
	$45,000,000.00

	Canadian Imperial Bank of Commerce, New York Branch
	$40,000,000.00

	Banco Bilbao Vizcaya Argentaria, S.A. New York Branch
	$35,000,000.00

	PNC Bank, National Association
	$35,000,000.00

	M&T Bank
	$25,000,000.00

	U.S. Bank National Association
	$25,000,000.00

	Citizens Bank, N.A.
	$20,000,000.00

	Fifth Third Bank
	$20,000,000.00

	Regions Bank
	$17,500,000.00

	The Huntington National Bank
	$12,500,000.00

	Atlantic Union Bank
	$10,000,000.00

	HSBC Bank USA, N.A.
	$9,000,000.00

	KeyBank National Association
	$6,000,000.00

	Total
	$590,000,000.00d-ex42_7.htm

 

Exhibit 4.2

 

 

 

DOMINION ENERGY, INC.

Issuer

AND 

DEUTSCHE BANK TRUST COMPANY AMERICAS

Trustee

‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

Twentieth Supplemental Indenture

Dated as of April 1, 2020

‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

$1,500,000,000

2020 Series C 3.375% Senior Notes

due 2030

 

 

 

 

 

TABLE OF CONTENTS1

 

 

				
	
ARTICLE I 2020 Series C 3.375% SENIOR NOTES due 2030
	
1

	
 
	
 
	
 
	
 

	
 
	
SECTION 101.
	
Establishment
	
1

	
 
	
 
	
 
	
 

	
 
	
SECTION 102.
	
Definitions
	
2

	
 
	
 
	
 
	
 

	
 
	
SECTION 103.
	
Payment of Principal and Interest
	
4

	
 
	
 
	
 
	
 

	
 
	
SECTION 104.
	
Denominations
	
5

	
 
	
 
	
 
	
 

	
 
	
SECTION 105.
	
Global Securities
	
5

	
 
	
 
	
 
	
 

	
 
	
SECTION 106.
	
Redemption
	
6

	
 
	
 
	
 
	
 

	
 
	
SECTION 107.
	
Sinking Fund; Conversion
	
6

	
 
	
 
	
 
	
 

	
 
	
SECTION 108.
	
Additional Interest on Overdue Amounts
	
6

	
 
	
 
	
 
	
 

	
 
	
SECTION 109.
	
Paying Agent
	
7

	
 
	
 
	
 
	
 

	
ARTICLE II MISCELLANEOUS PROVISIONS
	
7

	
 
	
 
	
 
	
 

	
 
	
SECTION 201.
	
Ratification and Incorporation of Base Indenture
	
7

	
 
	
 
	
 
	
 

	
 
	
SECTION 202.
	
Executed in Counterparts
	
7

	
 
	
 
	
 
	
 

	
 
	
SECTION 203.
	
Assignment
	
7

	
 
	
 
	
 
	
 

	
 
	
SECTION 204.
	
Trustee’s Disclaimer
	
7

	
 
	
 
	
 
	
 

 

 

 

	
	 

	
 
	
 This Table of Contents does not constitute part of the Indenture or have any bearing upon the interpretation of any of its terms and provisions.

 

 

 

THIS TWENTIETH SUPPLEMENTAL INDENTURE is made as of the 1st day of April, 2020, by and between DOMINION ENERGY, INC. (formerly Dominion Resources, Inc.), a Virginia corporation, having its principal office at 120 Tredegar Street, Richmond, Virginia 23219 (the “Company”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation, as Trustee, having a corporate trust office at 60 Wall Street, 24th Floor, New York, New York 10005 (herein called the “Trustee”).

W I T N E S S E T H:

WHEREAS, the Company has heretofore entered into an Indenture dated as of June 1, 2015, between the Company and the Trustee (as amended, restated or otherwise modified, the “Base Indenture”) with respect to senior debt securities;

WHEREAS, the Base Indenture is incorporated herein by this reference and the Base Indenture, as supplemented by this Twentieth Supplemental Indenture, and as may be hereafter supplemented or amended from time to time, is herein called the “Indenture”;

WHEREAS, under the Base Indenture, a new series of Securities may at any time be established in accordance with the provisions of the Base Indenture and the terms of such series may be described by a supplemental indenture executed by the Company and the Trustee;

WHEREAS, the Company proposes to create under the Indenture a new series of Securities;

WHEREAS, additional Securities of other series hereafter established, except as may be limited in the Base Indenture as at the time supplemented and modified, may be issued from time to time pursuant to the Indenture as at the time supplemented and modified; and

WHEREAS, all conditions necessary to authorize the execution and delivery of this Twentieth Supplemental Indenture and to make it a valid and binding obligation of the Company have been done or performed.

NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

ARTICLE I
2020 Series C 3.375% SENIOR NOTES due 2030

SECTION 101     Establishment  There is hereby established a new series of Securities to be issued under the Indenture, to be designated as the Company’s 2020 Series C 3.375% Senior Notes due 2030 (the “Series C Senior Notes”).

There are to be authenticated and delivered $1,500,000,000 principal amount of Series C Senior Notes, and such principal amount of the Series C Senior Notes may be increased from time to time pursuant to the penultimate paragraph of Section 301 of the Base Indenture.  All Series C Senior Notes need not be issued at the same time and such series may be reopened at any time, without the consent of any Holder, for issuances of additional Series C Senior Notes.  Any such additional Series C Senior Notes will have the same interest rate, maturity and other terms as those 

 

 

 

 

 

initially issued.  Further Series C Senior Notes may also be authenticated and delivered as provided by Sections 304, 305, 306, 905 or 1107 of the Base Indenture.

The Series C Senior Notes shall be issued as Registered Securities in global form without coupons, in substantially the form set out in Exhibit A hereto.  The entire initially issued principal amount of the Series C Senior Notes shall initially be evidenced by one or more certificates issued to Cede & Co., as nominee for The Depository Trust Company.

The form of the Trustee’s Certificate of Authentication for the Series C Senior Notes shall be in substantially the form set forth in Exhibit A hereto.

Each Series C Senior Note shall be dated the date of authentication thereof and shall bear interest from the date of original issuance thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for.

SECTION 102     Definitions  The following defined terms used herein shall, unless the context otherwise requires, have the meanings specified below.  Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Base Indenture.

“Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual 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.

“Business Day” means a day other than (i) a Saturday or a Sunday, (ii) a day on which banks in New York, New York are authorized or obligated by law or executive order to remain closed or (iii) a day on which the Corporate Trust Office is closed for business.

“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 C Senior Notes to be redeemed (assuming for this purpose, that the Series C Senior Notes matured on January 1, 2030) 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 in years and months of the Series C Senior Notes.

“Comparable Treasury Price” for any Redemption Date means (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations.

“Independent Investment Banker” means BofA Securities, Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments, Inc. and their respective successors or affiliates, as selected by the Company, or if any such firm is unwilling or unable to serve as such, an independent investment and banking institution of national standing appointed by the Company.

 

 “Interest Payment Dates” means April 1 and October 1 of each year, commencing on October 1, 2020.

“Original Issue Date” means April 3, 2020.

 

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“Outstanding,” when used with respect to the Series C Senior Notes, means, as of the date of determination, all Series C Senior Notes theretofore authenticated and delivered under the Indenture, except:

(i)Series C Senior Notes theretofore canceled by the Trustee or delivered to the Trustee for cancellation;

(ii)Series C Senior Notes for whose payment at the Maturity thereof money in the necessary amount has been theretofore deposited (other than pursuant to Section 402 of the Base Indenture) with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Series C Senior Notes, provided that, if such Series C Senior Notes are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made;

(iii)Series C Senior Notes with respect to which the Company has effected defeasance or covenant defeasance pursuant to Section 402 of the Base Indenture, except to the extent provided in Section 402 of the Base Indenture; and

(iv)Series C Senior Notes that have been paid pursuant to Section 306 of the Base Indenture or in exchange for or in lieu of which other Series C Senior Notes have been authenticated and delivered pursuant to the Indenture, other than any such Series C Senior Notes in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Series C Senior Notes are held by a bona fide purchaser in whose hands such Series C Senior Notes are valid obligations of the Company; provided, however, that in determining whether the Holders of the requisite principal amount of Outstanding Series C Senior Notes have given any request, demand, authorization, direction, notice, consent or waiver under the Indenture or are present at a meeting of Holders of Series C Senior Notes for quorum purposes, Series C Senior Notes owned by the Company or any other obligor upon the Series C Senior Notes or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making any such determination or relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Series C Senior Notes which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded.  Series C Senior Notes so owned which shall have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee (A) the pledgee’s right so to act with respect to such Series C Senior Notes and (B) that the pledgee is not the Company or any other obligor upon the Series C Senior Notes or an Affiliate of the Company or such other obligor.

“Primary Treasury Dealer” means a primary United States government securities dealer in the United States as designated by the Federal Reserve Bank of New York.

“Reference Treasury Dealer” means BofA Securities, Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., one Primary Treasury Dealer selected by SMBC Nikko Securities America, Inc. and one Primary Treasury Dealer selected by SunTrust Robinson Humphrey, Inc. and their respective successors or affiliates; provided that, if any such firm or its successors or affiliates ceases to be a Primary Treasury Dealer, the Company shall substitute another Primary Treasury Dealer.

 

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“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date.

“Regular Record Date” means, with respect to each Interest Payment Date, the close of business on the Business Day preceding such Interest Payment Date; provided that, with respect to Series C Senior Notes that are not represented by one or more Global Securities, the Regular Record Date shall be the close of business on the 15th calendar day (whether or not a Business Day) preceding such Interest Payment Date.

“Stated Maturity” means April 1, 2030.

The terms “Company,” “Trustee,” “Base Indenture,” and “Indenture” shall have the respective meanings set forth in the recitals to this Twentieth Supplemental Indenture and the paragraph preceding such recitals.

SECTION 103     Payment of Principal and Interest  The principal of the Series C Senior Notes shall be due at the Stated Maturity (unless earlier redeemed).  The unpaid principal amount of the Series C Senior Notes shall bear interest at the rate of 3.375% per annum until paid or duly provided for, such interest to accrue from the Original Issue Date or from the most recent Interest Payment Date to which interest has been paid or duly provided for.  Interest shall be paid semi-annually in arrears on each Interest Payment Date to the Person in whose name the Series C Senior Notes are registered on the Regular Record Date for such Interest Payment Date; provided that interest payable at the Stated Maturity of principal or on a Redemption Date as provided herein will be paid to the Person to whom principal is payable.  Any such interest that is not so punctually paid or duly provided for will forthwith cease to be payable to the Holders on such Regular Record Date and may either be paid to the Person or Persons in whose name the Series C Senior Notes are registered at the close of business on a Special Record Date for the payment of such defaulted interest to be fixed by the Trustee (in accordance with Section 307 of the Base Indenture), notice whereof shall be given to Holders of the Series C Senior Notes not less than ten (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, if any, on which the Series C Senior Notes may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in the Base Indenture.

Payments of interest on the Series C Senior Notes will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for the Series C Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months.  In the event that any date on which interest is payable on the Series C Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally payable.

Payment of the principal and interest on the Series C Senior Notes shall be made at the office of the Paying Agent 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, with any such payment that is 

 

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due at the Stated Maturity of any Series C Senior Notes, upon redemption or repurchase being made upon surrender of such Series C Senior Notes to the Paying Agent. Payments of interest (including interest on any Interest Payment Date) will be made, subject to such surrender where applicable, at the option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto.  In the event that any date on which principal and interest is payable on the Series C Senior Notes is not a Business Day, then payment of the principal and interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally payable.

SECTION 104     Denominations  The Series C Senior Notes may be issued in denominations of $2,000, or any greater integral multiple of $1,000.

SECTION 105     Global Securities  The Series C Senior Notes will be initially issued in the form of one or more Global Securities registered in the name of the Depositary (which shall be The Depository Trust Company) or its nominee. Except under the limited circumstances described below, Series C Senior Notes represented by such Global Securities will not be exchangeable for, and will not otherwise be issuable as, Series C Senior Notes in definitive form registered in names other than the Depositary or its nominee. The Global Securities described above may not be transferred except 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 or to a successor Depositary or its nominee. 

Owners of beneficial interests in such a Global Security will not be considered the Holders thereof for any purpose under the Indenture, and no Global Security representing a Series C Senior Note shall be exchangeable, except for another Global Security of like denomination and tenor to be registered in the name of the Depositary or its nominee or to a successor Depositary or its nominee or except as described below. The rights of Holders of such Global Security shall be exercised only through the Depositary.

A Global Security shall be exchangeable for Series C Senior Notes registered in the names of persons other than the Depositary or its nominee only if (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Security and no successor Depositary shall have been appointed by the Company within 90 days of receipt by the Company of such notification, or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act at a time when the Depositary is required to be so registered to act as such Depositary and no successor Depositary shall have been appointed by the Company within 90 days after it becomes aware of such cessation, (ii) the Company in its sole discretion, and subject to the procedures of the Depositary, determines that such Global Security shall be so exchangeable, in which case Series C Senior Notes in definitive form will be printed and delivered to the Depositary, or (iii) an Event of Default has occurred and is continuing with respect to the Series C Senior Notes.  Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Series C Senior Notes registered in such names as the Depositary shall direct.

 

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SECTION 106     Redemption  The Series C Senior Notes are redeemable, in whole or in part, at any time and from time to time prior to January 1, 2030, at the option of the Company, at a Redemption Price equal to the greater of:

(i) 100% of the principal amount of Series C Senior Notes then Outstanding to be so redeemed, or

(ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the Redemption Date) 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, plus 45 basis points, as calculated by an Independent Investment Banker, plus, in either of the above cases, accrued and unpaid interest thereon to the Redemption Date.

In addition, the Series C Senior Notes are redeemable, in whole or in part at any time and from time to time on or after January 1, 2030, at the option of the Company, at a Redemption Price equal to 100% of the principal amount of the Series C Senior Notes then outstanding to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date.

The Adjusted Treasury Rate shall be calculated no later than the third Business Day preceding the Redemption Date.

Unless the Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Series C Senior Notes or portions thereof called for redemption.

In the event of the redemption of the Series C Senior Notes in part only, a new Series C Senior Note or Notes for the unredeemed portion will be issued in the name or names of the Holders thereof upon surrender thereof.

The Company shall notify the Trustee in writing of the Redemption Price promptly after the calculation thereof and the Trustee shall have no responsibility for such calculation.  The notice of redemption shall be sent in accordance with the terms of the Base Indenture.

SECTION 107     Sinking Fund; Conversion  The Series C Senior Notes shall not have a sinking fund.  The Series C Senior Notes are not convertible into or exchangeable for Equity Securities and/or any other securities.

SECTION 108     Additional Interest on Overdue Amounts  Any principal of and installment of interest on the Series C Senior Notes that is overdue shall bear interest at the rate of 3.375% (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand.

SECTION 109     Paying Agent  The Trustee shall initially serve as Paying Agent with respect to the Series C Senior Notes, with the Place of Payment initially being the Corporate Trust Office.

 

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ARTICLE II
MISCELLANEOUS PROVISIONS

SECTION 201     Ratification and Incorporation of Base Indenture  As supplemented hereby, the Base Indenture is in all respects ratified and confirmed by the Company.  The Base Indenture and this Twentieth Supplemental Indenture shall be read, taken and construed as one and the same instrument.

SECTION 202     Executed in Counterparts  This Twentieth Supplemental Indenture may be executed in several counterparts, each of which shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument.  The exchange of copies of this Twentieth Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Twentieth Supplemental Indenture as to the parties hereto and may be used in lieu of the original, manually executed Twentieth Supplemental Indenture for all purposes.  Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

SECTION 203     Assignment  The Company shall have the right at all times to assign any of its rights or obligations under the Indenture with respect to the Series C Senior Notes to a direct or indirect wholly-owned subsidiary of the Company; provided that, in the event of any such assignment, the Company shall remain primarily liable for the performance of all such obligations.  The Indenture may also be assigned by the Company in connection with a transaction described in Article Eight of the Base Indenture.

SECTION 204     Trustee’s Disclaimer.  All of the provisions contained in the Base Indenture in respect of the rights, powers, privileges, protections, duties and immunities of the Trustee, including without limitation its right to be indemnified, shall be applicable in respect of the Series C Senior Notes and of this Twentieth Supplemental Indenture as fully and with like effect as if set forth herein in full.  The Trustee accepts the amendments of the Indenture effected by this Twentieth Supplemental Indenture, but on the terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting the liabilities and responsibilities of the Trustee.  Without limiting the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect to any of the recitals or statements contained herein, all of which recitals or statements are made solely by the Company, or for or with respect to (i) the validity or sufficiency of this Twentieth Supplemental Indenture or any of the terms or provision hereof, (ii) the proper authorization hereof by the Company by action or otherwise, (iii) the due execution hereof by the Company, or (iv) the consequences of any amendment herein provided for, and the Trustee makes no representation with respect to any such matters.

[Signature Page Follows]

 

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IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name and behalf by its duly authorized officer, all as of the day and year first above written.

 

	
 
	
 
	
DOMINION ENERGY, INC.

	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
By:
	
/s/ James R. Chapman

	
 
	
 
	
Name:
	
James R. Chapman

	
 
	
 
	
Title:
	
Executive Vice President, Chief Financial 

Officer and Treasurer

 

	
 
	
 
	
DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee

	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
By:
	
/s/ Irina Golovashchuk

	
 
	
 
	
Name:
	
Irina Golovashchuk

	
 
	
 
	
Title:
	
Vice President

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
By:
	
/s/ Debra A. Schwalb

	
 
	
 
	
Name:
	
Debra A. Schwalb

	
 
	
 
	
Title:
	
Vice President

 

 

 

 

 

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EXHIBIT A

 

FORM OF

2020 SERIES C 3.375% SENIOR NOTE

DUE 2030

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF [CEDE & CO.] OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO [CEDE & CO.], ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, [CEDE & CO.], HAS AN INTEREST HEREIN.]**

[THIS SERIES C SENIOR NOTE 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 THEREOF.  THIS SERIES C SENIOR NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SERIES C SENIOR NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.  EVERY SERIES C SENIOR NOTE AUTHENTICATED AND DELIVERED UPON REGISTRATION OF, TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS SERIES C SENIOR NOTE SHALL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]**

 

	
	
DOMINION ENERGY, INC.

$______________

2020 SERIES C 3.375% SENIOR NOTE

DUE 2030

		
	
No. R-
	
CUSIP No. 25746UDG1

Dominion Energy, Inc. (formerly Dominion Resources, Inc.), a corporation duly organized and existing under the laws of Virginia (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to [Cede & Co.]**, or registered assigns (the “Holder”), the principal sum of ________________ Dollars ($_____________) on April 1, 2030 and to pay interest thereon from April 3, 2020 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on April 1 and October 1 of each year, 

	
	 

	
* Insert in Global Securities.
	
*

 

 

 

 

 

commencing on October 1, 2020, at the rate of 3.375% per annum, until the principal hereof is paid or made available for payment, provided that any principal, and any such installment of interest, that is overdue shall bear interest at the rate of 3.375% per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand.  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 Series C Senior Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; provided that the interest payable at Stated Maturity or on a Redemption Date will be paid to the Person to whom principal is payable.  The Regular Record Date shall be the close of business on the Business Day preceding such Interest Payment Date; provided, that with respect to Series C Senior Notes that are not represented by one or more Global Securities, the Regular Record Date shall be the close of business on the 15th calendar day (whether or not a Business Day) 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 Series C Senior Note (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 Series C Senior Notes 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 Series C Senior Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

Payments of interest on the Series C Senior Notes will include interest accrued to but excluding the respective Interest Payment Dates.  Interest payments for the Series C Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months.  In the event that any date on which interest is payable on the Series C Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally payable.

Payment of the principal of and interest on this Series C Senior Note will be made at the office of the Paying Agent, in the Borough of Manhattan, City and State of New York, 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, with any such payment that is due at the Stated Maturity of any Series C Senior Note, upon redemption or repurchase being made upon surrender of such Series C Senior Note to such office or agency; provided, however, that at the option of the Company payment of interest, subject to such surrender where applicable, may be made (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto. 

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

 

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

 

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

 

	
 
	
 
	
DOMINION ENERGY, INC.

	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
By:
	
 

	
 
	
 
	
Name:
	
 

	
 
	
 
	
Title:
	
 

 

 

CERTIFICATE OF AUTHENTICATION

 

 

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

 

	
 
	
 
	
DEUTSCHE BANK TRUST COMPANY AMERICAS, as

Trustee

	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
By:
	
 

	
 
	
 
	
 
	
Authorized Signatory

	
 
	
 
	
 
	
 

	
 
	
 
	
Dated:

 

 

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[REVERSE OF 2020 SERIES C 3.375% SENIOR NOTE]

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 June 1, 2015 (the “Base Indenture”), between the Company and Deutsche Bank Trust Company Americas, as Trustee (the “Trustee”), as previously supplemented and as further supplemented by a Twentieth Supplemental Indenture dated as of April 1, 2020 (the “Twentieth Supplemental Indenture” and, together with the Base Indenture, as it may be hereafter supplemented or amended from time to time, the “Indenture,” which term shall have the meaning assigned to it in such instrument), by and between the Company and the Trustee, and reference is hereby made to the Indenture 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 (the “Series C Senior Notes”) which is unlimited in aggregate principal amount.

The Series C Senior Notes are redeemable, in whole or in part, at any time and from time to time in the manner and with the effect provided in the Indenture.

If an Event of Default with respect to Series C Senior Notes shall occur and be continuing, the principal of the Series C Senior Notes may be declared due and payable in the manner and with the effect provided in the Indenture.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee for the series of Securities affected, 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 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 certain past defaults under the Indenture and their consequences.  Any such consent or waiver by the Holder of this Series C Senior Note shall be conclusive and binding upon such Holder and upon all future Holders of this Series C Senior Note and of any Series C Senior 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 C Senior Note.

As provided in and subject to the provisions of the Indenture, the Holder of this Series C Senior Note 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 Series C Senior Notes, the Holders of not less than a majority in principal amount of the Series C Senior Notes 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 indemnity or security reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Series C Senior Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such 

 

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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 Series C Senior Note for the enforcement of any payment of principal hereof or premium, if any, or interest hereon on or after the respective due dates expressed or provided for herein.

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

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Series C Senior Note is registrable in the Security Register, upon surrender of this Series C Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of, premium, if any, and interest on this Series C Senior Note 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 Series C Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

The Series C Senior Notes are issuable only in registered form without coupons in denominations of $2,000 and any greater integral multiple of $1,000.  As provided in the Indenture and subject to certain limitations therein set forth, Series C Senior Notes are exchangeable for a like aggregate principal amount of Series C Senior Notes having the same Stated Maturity and of like tenor of any authorized denominations as requested by the Holder upon surrender of the Series C Senior Note or Series C Senior Notes to be exchanged at the office or agency of the Company. 

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 Series C Senior 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 Security is registered as the owner hereof for all purposes, whether or not this Series C Senior Note 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 Series C Senior Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

5

 

 

 ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations:

						
	
TEN COM ‐
	
 
	
 
	
 
	
as tenants in common

	
TEN ENT ‐
	
 
	
 
	
 
	
as tenants by the entireties

	
JT TEN ‐
	
 
	
 
	
 
	
as joint tenants with rights of survivorship and not as tenants in common

	
UNIF GIFT MIN ACT  
	
 
	
Custodian for

	
 
	
 
	
 
	
 
	
(Cust)

 

 
	
 

	
 
	
 
	
 
	
 
	
(Minor)
	
 

	
 
	
 
	
 
	
 
	
Under Uniform Gifts to Minors Act of
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
(State)
	
 

 

Additional abbreviations may also be used though not on the above list. ______________________________________________________________

 

 

6

 

 

FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto

 

 

 

 

 (please insert Social Security or other identifying number of assignee)

 

 

 

 

 

 

.

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF ASSIGNEE

the within Series C Senior Note and all rights thereunder, hereby irrevocably constituting and appointing

 

 

 

 

 

 

 

 

 

 

 

 

 

agent to transfer said Series C Senior Note on the books of the Company, with full power of substitution in the premises.

Dated: __________________ __, ____

 

		
	
 
	
 

 

NOTICE:  The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement, or any change whatever.

 

 

7

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