Document:

Exhibit

Exhibit 4.3

GUARANTEE AGREEMENT
Between
NextEra Energy US Partners Holdings, LLC  
(as Guarantor)
and
The Bank of New York Mellon 
(as Guarantee Trustee)
dated as of
September 25, 2017

Guarantee Agreement 
(For Unsecured Senior Securities)

TABLE OF CONTENTS

Page

	
				
	ARTICLE I
	 
	DEFINITIONS
	1

	1.01
	 
	Definitions
	1

	ARTICLE II
	 
	TRUST INDENTURE ACT
	11

	2.01
	 
	Trust Indenture Act; Application
	11

	2.02
	 
	Lists of Holders of Guaranteed Securities
	11

	2.03
	 
	Reports by Guarantee Trustee
	11

	2.04
	 
	Periodic Reports by Guarantor
	11

	2.05
	 
	Evidence of Compliance with Conditions Precedent
	12

	2.06
	 
	Events of Default; Waiver
	12

	2.07
	 
	Event of Default; Notice
	12

	2.08
	 
	Conflicting Interests
	12

	ARTICLE III
	 
	POWERS, DUTIES AND RIGHTS OF GUARANTEE TRUSTEE
	12

	3.01
	 
	Powers and Duties of Guarantee Trustee
	12

	3.02
	 
	Certain Rights of Guarantee Trustee
	14

	3.03
	 
	Not Responsible for Recitals of Guarantee Agreement
	17

	ARTICLE IV
	 
	GUARANTEE TRUSTEE
	17

	4.01
	 
	Guarantee Trustee; Eligibility
	17

	4.02
	 
	Compensation and Reimbursement
	17

	4.03
	 
	Appointment, Removal and Resignation of Guarantee Trustee
	18

	ARTICLE V
	 
	GUARANTEE
	19

	5.01
	 
	Guarantee
	19

	5.02
	 
	Waiver and Payments
	19

	5.03
	 
	Absolute and Unconditional
	19

	5.04
	 
	Waiver of Notice
	20

	5.05
	 
	Duration
	20

	5.06
	 
	Certain Rights, Remedies and Powers of Guaranteed Persons
	20

	5.07
	 
	Delays
	21

	5.08
	 
	Covenants of the Guarantor
	21

	5.09
	 
	Release of Guarantee Agreement
	22

	ARTICLE VI
	 
	MISCELLANEOUS
	23

	6.01
	 
	Amendments
	23

	6.02
	 
	Waiver of Subrogation
	23

	6.03
	 
	Usurious Interest
	23

	6.04
	 
	Successors and Assigns
	24

	6.05
	 
	Notices
	24

	6.06
	 
	Benefit
	25

	6.07
	 
	No Fraudulent Conveyance
	25

	6.08
	 
	Governing Law
	25

	6.09
	 
	Separability
	25

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TABLE OF CONTENTS
(continued)
Page

	
				
	6.10
	 
	WAIVER OF JURY TRIAL
	25

	6.11
	 
	Subsidiary Guarantee
	26

	6.12
	 
	Counterpart Originals
	26

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CROSS-REFERENCE TABLE*
	
					
	Section of
	 
	 
	 
	Section of

	Trust Indenture Act
	 
	 
	 
	Guarantee

	of 1939, as amended
	 
	 
	 
	Agreement

	
		
	310(a)
	4.01(a)

	310(b)
	4.01(c), 2.08

	310(c)
	Inapplicable

	311(a)
	2.02(b)

	311(b)
	2.02(b)

	311(c)
	Inapplicable

	312(a)
	2.02(a)

	312(b)
	2.02(b)

	313
	2.03

	314(a)
	2.04

	314(b)
	Inapplicable

	314(c)
	2.05

	314(d)
	Inapplicable

	314(e) 
	1.01, 2.05, 3.02

	315(a)
	3.01(d)

	315(b) 
	2.07

	315(c) 
	3.01

	315(d)
	3.01(d)

	315(e) 
	2.01(a)

	316(a)
	2.06

	316(b)
	Inapplicable

	316(c
	2.02

	317(a)
	Inapplicable

	317(b) 
	Inapplicable

	318(a)
	2.01(b)

	318(b)
	2.01

	318(c)
	2.01(a)

____________________________________

*This Cross-Reference Table does not constitute part of the Guarantee Agreement and shall not affect the interpretation of any of its terms or provisions.

GUARANTEE AGREEMENT
This GUARANTEE AGREEMENT ("Guarantee Agreement"), dated as of September 25, 2017, is executed and delivered by NextEra Energy US Partners Holdings, LLC, a Delaware limited liability company (the "Guarantor"), and The Bank of New York Mellon, a New York banking corporation, as trustee (the "Guarantee Trustee"), for the benefit of the Holders (as defined herein) from time to time of the Guaranteed Securities (as defined herein) of NextEra Energy Operating Partners, LP, a Delaware limited partnership (the "Issuer");
WHEREAS, pursuant to the Indenture (as hereinafter defined), the Issuer may issue Securities (as defined in the Indenture), in one or more series, in an unlimited amount;
WHEREAS, the Guarantor is a wholly-owned subsidiary of the Issuer; 
WHEREAS, the Guarantor may from time to time benefit from the issuance of the Guaranteed Securities under the Indenture; and
WHEREAS, it is in the best interests of the Guarantor to execute and deliver this Guarantee Agreement and to perform its obligations hereunder;
NOW, THEREFORE, FOR AND IN CONSIDERATION OF one dollar ($1.00) and other good and valuable consideration, the receipt of which is hereby acknowledged, the Guarantor and the Guarantee Trustee hereby agree as follows:
ARTICLE I
DEFINITIONS

1.01    Definitions.  As used in this Guarantee Agreement, the terms set forth below shall, unless the context otherwise requires, have the following meanings.  Capitalized or otherwise defined terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Indenture as in effect on the date hereof.
"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 the purposes of this definition, "control" when used with respect to any specified Person means the power to direct the management or policies of such Person, directly or through one or more intermediaries, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have correlative meanings.
"Authorized Officer" means the Chairman of the Board, the Chief Executive Officer, the Chief Financial Officer, the Chief Accounting Officer, the General Counsel, the President, any Vice President, the Treasurer, the Corporate Secretary, any Assistant Treasurer, the Secretary, any Assistant Secretary or any other duly authorized officer of the Guarantor.

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"Board Resolution" means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Guarantor to have been duly adopted by the sole member of the Guarantor and to be in full force and effect on the date of such certification, and delivered to the Trustee.
"Capital Lease Obligation" means, at the time any determination is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP, and the stated maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty.
"Capitalized Leases" means, with respect to any Person, leases that have been or should be, in accordance with generally accepted accounting principles, recorded as capital leases on the balance sheet of such Person.
"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 interests (whether general or limited) or membership interests; 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, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock.
"Cash Equivalents" means any of the following types of Investments, to the extent owned by the Issuer, the Guarantor or NextEra Canadian Holdings or any of their Subsidiaries free and clear of all Liens (other than Liens securing the Obligations under the Existing Credit Agreement or the Existing Term Loan Agreements):
(1)    readily marketable obligations issued or directly and fully guaranteed or insured by the United States of America or any agency or instrumentality thereof having maturities of not more than 360 days from the date of acquisition thereof; provided that the full faith and credit of the United States of America is pledged in support thereof;
(2)    time deposits with, or insured certificates of deposit or bankers' acceptances of, any commercial bank that (i) (a) is a lender under the Existing Credit Agreement or the Existing Term Loan Agreements or (b) is organized under the laws of the United States of America, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company 

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organized under the laws of the United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause (3) of this definition and (iii) has combined capital and surplus of at least $1,000,000,000, in each case with maturities of not more than 12 months from the date of acquisition thereof; 
(3)    commercial paper issued by any Person organized under the laws of any state of the United States of America and rated at least "Prime-1" (or the then equivalent grade) by Moody's or at least "A-1" (or the then equivalent grade) by Standard & Poor's, in each case with maturities of not more than 12 months from the date of acquisition thereof; and
(4)    Investments, classified in accordance with generally accepted accounting principles as current assets of the Issuer, the Guarantor or NextEra Canadian Holdings or any of their Subsidiaries, in money market investment programs registered under the Investment Company Act of 1940, as amended, which are administered by financial institutions that have the highest rating obtainable from either Moody's or Standard & Poor's, and the portfolios of which are limited solely to investments of the character, quality and maturity described in clauses (1), (2) and (3) of this definition.
"Cash Sweep and Credit Support Agreement" means the Amended and Restated Cash Sweep and Credit Support Agreement dated as of August 4, 2017 entered into between the Issuer and NextEra Energy Resources, LLC, as in effect on the date hereof.
"Covenant Cash" means, without duplication, internally generated cash and Cash Equivalents distributed by the Project Companies, the Guarantor and NextEra Canadian Holdings, directly or indirectly, to the Issuer or the Guarantor, as applicable, in respect of the Equity Interests of the Project Companies, the Guarantor and NextEra Canadian Holdings owned, directly or indirectly, by the Issuer (other than dividends or other distributions that are funded, directly or indirectly, with substantially concurrent cash Investments, or cash investments that were not used by a Project Company, the Guarantor or NextEra Canadian Holdings for capital expenditures or for operational purposes, by the Issuer or any of its Subsidiaries in a Project Company, the Guarantor and NextEra Canadian Holdings), excluding (a) the proceeds of any extraordinary receipts (including cash payments or proceeds received (i) from any Disposition by the Issuer or any of its Subsidiaries, (ii) under any casualty insurance policy in respect of a covered loss thereunder or (iii) as a result of the taking of any assets of the Issuer or any of its Subsidiaries by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking) and (b) any cash that is derived from (i) cash grants and similar items to the Project Companies, the Guarantor and NextEra Canadian Holdings, (ii) any incurrence of Funded Debt by the Project Companies, the Guarantor and NextEra Canadian Holdings, (iii) any issuance of Equity Interests by the Project Companies, the Guarantor 

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and NextEra Canadian Holdings, or (iv) any capital contribution to the Project Companies, the Guarantor and NextEra Canadian Holdings.
"Covenant Cash Flow" means, at any date of determination, an amount equal to the Covenant Cash received by the Issuer or the Guarantor, as applicable, during the most recently completed Measurement Period, together with amounts deemed received in accordance with the definition of "Pro Forma Effect" as defined in the Existing Credit Agreement as in effect on the date hereof.
"Disposition" or "Dispose" means the sale, transfer, lease, distribution or other disposition (including any sale and leaseback transaction) of any property by any Person (or the granting of any option or other right to do any of the foregoing), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith.
"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).
"Event of Default" means a default by the Guarantor on any of its payment obligations under this Guarantee Agreement.
"Excess Fee Adjustment" means, for any Measurement Period, an amount equal to the amount by which the aggregate Fees for such Measurement Period exceed twenty percent (20%) of the total Covenant Cash Flow for such period (before any deduction therefrom for any Fees).
"Existing Credit Agreement" means the Revolving Credit Agreement, by and between the Issuer, NextEra Canadian Holdings, and the Guarantor and Bank of America, N.A., as administrative agent and collateral agent, and Bank of America, N.A. (Canada Branch), as Canadian agent for the lenders and the lenders party thereto, dated as of July 1, 2014, as amended to date, and as the same may be amended, restated, modified, renewed, refunded, replaced or refinanced from time to time.  
"Existing Term Loan Agreements" means the bi-lateral term loan agreements in effect as of the date hereof and entered into by the Guarantor, as borrower, the Issuer, as guarantor, and the respective financial institutions parties thereto, each as amended to date, and each as may be amended, restated, modified, renewed, refunded, replaced or refinanced from time to time.
"Fees" means the Quarterly Fee Amount (as defined in the Management Services Agreement), the Additional Fee Amount (as defined in the Management Services Agreement), the IDR Fee (as defined in the Management Services Agreement) and the Credit Support Fee (as defined 

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in the Cash Sweep and Credit Support Agreement)  as required pursuant to the Cash Sweep and Credit Support Agreement and the Management Services Agreement.
"Funded Debt" means, as of the date of any determination thereof, the following (without duplication) with respect to any Person, determined on a consolidated basis in accordance with generally accepted accounting principles (other than as consolidated on the balance sheet of such Person solely as a result of the operation of the variable interest entity provisions in FASB ASC 810, and without giving effect to any change to Funded Debt or equity as a result of the operation of FASB ASC 715): 
(1)    all indebtedness for borrowed money (other than trade liabilities incurred in the ordinary course of business and payable in accordance with customary practices); 
(2)    all obligations evidenced by bonds, indentures, notes and other similar instruments; 
(3)    all obligations with respect to the deferred purchase price of property (other than as described in clause (4) below and other than trade liabilities incurred in the ordinary course of business and payable in accordance with customary practices) to the extent that such obligations are absolute and fixed and not subject to any right of cancellation by such Person and/or any of its Subsidiaries; 
(4)    all obligations with respect to construction services to be performed, but only to the extent such obligations have become due and owing as of the date of any such determination pursuant to the provisions of the specific agreement evidencing such obligations; 
(5)    all obligations of such Person and its Subsidiaries as lessee under (a) Capitalized Leases and (b) Synthetic Lease Obligations; 
(6)    all liabilities secured by any Lien on any property owned by such Person or any of its Subsidiaries; 
(7)    all obligations, contingent or otherwise, of such Person and its Subsidiaries in respect of acceptances, letters of credit or similar extensions of credit; 
(8)    all net obligations under Swap Contracts in an amount equal to the Swap Termination Value thereof; 
(9)    any Mandatorily Redeemable Stock of such Person and its Subsidiaries (the amount of such Mandatorily Redeemable Stock to be determined for this purpose as the higher of the liquidation preference and the amount payable upon redemption of such Mandatorily Redeemable Stock); 

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(10)    any liabilities in respect of unfunded vested benefits under plans covered by Title IV of ERISA; and 
(11)    guarantees of obligations of the type described in any of clause (1) – clause (10) of this definition, but only to the extent of the indebtedness guaranteed thereby which is then outstanding as of the date of any such determination pursuant to the provisions of the agreement in respect of which such obligation exists or arises.
"GAAP" means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect from time to time; provided, however, that if any operating lease would be re-characterized as a capital lease due to changes in the accounting treatment of such operating leases under GAAP since the date hereof, then solely with respect to the accounting treatment of any such lease, GAAP shall be interpreted as it was in effect on the date hereof.
"Guarantee" means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement conditions or otherwise).
"Guarantee Trustee" means The Bank of New York Mellon until a Successor Guarantee Trustee has been appointed and has accepted such appointment pursuant to the terms of this Guarantee Agreement and thereafter means such Successor Guarantee Trustee.
"Guaranteed Securities" means all of the Securities other than the Securities that, by their terms, are expressly not entitled to the benefit of this Guarantee Agreement.  For the avoidance of any doubt, the 4.25% Senior Notes due 2024 and the 4.50% Senior Notes due 2027 issued by the Issuer on the date hereof shall be deemed to be Guaranteed Securities.
"Holder" means a Person in whose name a Guaranteed Security is registered in the Security Register (as defined in the Indenture).
"Hedging Obligations" means, with respect to any specified Person, the obligations of such Person under:

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(1)    currency exchange, interest rate or commodity swap agreements, currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements; and
(2)    (i) agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates, commodity prices or commodity transportation or transmission pricing or availability; (ii) any netting arrangements, power purchase and sale agreements, fuel purchase and sale agreements, swaps, options and other agreements, in each case, that fluctuate in value with fluctuations in energy, power or gas prices; and (iii) agreements or arrangements for commercial or trading activities with respect to the purchase, transmission, distribution, sale, lease or hedge of any energy related commodity or service.
"Indebtedness" means, with respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables, except as provided in clause (5) below), whether or not contingent:
(1)    in respect of borrowed money;
(2)    evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof);
(3)    in respect of banker's acceptances;
(4)    representing Capital Lease Obligations in respect of sale and leaseback transactions;
(5)    representing the balance of deferred and unpaid purchase price of any property or services with a scheduled due date more than six months after such property is acquired or such services are completed; or
(6)    representing the net amount owing under any Hedging Obligations, if and to the extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP.
In addition, the term "Indebtedness" includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person; provided that the amount of such Indebtedness shall be deemed not to exceed the lesser of the amount secured by such Lien and the value of the Person's property securing such Lien. 
"Indenture" means that certain Indenture, dated as of September 25, 2017, from the Issuer to The Bank of New York Mellon, a New York banking corporation, as trustee (the "Indenture 

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Trustee"), as it may from time to time be supplemented or amended by one or more Board Resolutions (as defined in the Indenture), Officer’s Certificates (as defined in the Indenture) and indentures supplemental thereto entered into pursuant to the applicable provisions thereof and shall include the terms of particular series of Securities established as contemplated by Section 301 thereof.
"Investment" means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or interest in, another Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit or all or a substantial part of the business of, such Person.  For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment.
"Lien" means any mortgage, pledge, lien, security interest or other charge or encumbrance with respect to any present or future assets of the Person referred to in the context in which the term is used.
"List of Holders" shall have the meaning ascribed to that term in Section 2.02.
"Management Services Agreement" means the Second Amended and Restated Management Services Agreement dated as of August 4, 2017 entered into among the Issuer, the Guarantor, NextEra Energy Operating Partners GP, LLC and NextEra Energy Management Partners, LP as in effect on the date hereof.
"Mandatorily Redeemable Stock" means, with respect to any Person, any share of such Person's capital stock to the extent that it is (1) redeemable, payable or required to be purchased or otherwise retired or extinguished, or convertible into any indebtedness or other liability of such Person, (a) at a fixed or determinable date, whether by operation of a sinking fund or otherwise, (b) at the option of any Person other than such Person, or (c) upon the occurrence of a condition not solely within the control of such Person, such as a redemption required to be made out of future earnings, or (2) presently convertible into Mandatorily Redeemable Stock.
"Measurement Period" means, at any date of determination, the most recently completed four fiscal quarters of the Issuer or the Guarantor, as applicable, for which financial statements are available.
"Moody's" means Moody's Investors Service, Inc. or any successor entity.
"NEP" means NextEra Energy Partners, LP.

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"NEP OpCo Adjusted Covenant Cash Flow" means, at any date of determination, the Covenant Cash Flow for the Measurement Period for which such determination is being made, minus the Excess Fee Adjustment for such period.
"NextEra Canadian Holdings" means NextEra Energy Canada Partners Holdings, ULC.
"Obligations" means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities (including Guarantees) payable under the documentation governing any Indebtedness.
"Officer's Certificate" means a certificate signed by an Authorized Officer and delivered to the Guarantee Trustee.  Any Officer's Certificate delivered with respect to compliance with a condition or covenant provided for in this Guarantee Agreement shall include:
(i)    a statement that the each Person signing such Officer's Certificate has read such covenant or condition and the definitions relating thereto;
(ii)    a brief statement as to the nature and scope of the examination or investigation upon which the statements contained in such Officer's Certificate are based;
(iii)    a statement that, in the opinion of each such Person, such Person has made such examination or investigation as is necessary to enable such Person to express an informed opinion as to whether or not such covenant or condition has been complied with; and
(iv)    a statement as to whether, in the opinion of such officer, such condition or covenant has been complied with.
"OpCo Funded Debt" means, as of the date of any determination, Funded Debt of the Issuer and its Subsidiaries (but not including any Funded Debt of the Project Companies that is not otherwise guaranteed by the Issuer or any Guarantor).
"Person" means any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government, or any agency or political subdivision thereof, or any other entity of whatever nature.
"Project Company" means each  direct or indirect Subsidiary or any joint venture of the Issuer, the Guarantor or NextEra Canadian Holdings that is created or acquired by the Issuer, the Guarantor or NextEra Canadian Holdings and is the direct or indirect owner or lessee, or intended to become the direct or indirect owner, lessee or developer of all or any portion of any generating, transmission, distribution or other operating assets, or assets relating thereto (in each such case, a "Project"), together with the direct and indirect parents and subsidiaries of such Person, but excluding 

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the Issuer, the Guarantor or NextEra Canadian Holdings and any direct or indirect owner of any Equity Interest in the Issuer, the Guarantor or NextEra Canadian Holdings. 
"Responsible Officer" means, with respect to the Guarantee Trustee, any vice-president, any assistant vice-president, any assistant secretary, senior associate, associate, any assistant treasurer, any trust officer or assistant trust officer or any other officer of the Guarantee Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of that officer's knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Guarantee Agreement.
"Security Registrar" shall have the meaning set forth for such term in the Indenture.
"Standard & Poor's" means Standard & Poor's Ratings Group or any successor entity.
"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 and after giving effect to any voting agreement or stockholders' agreement that effectively transfers voting power) 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 general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof).
For the avoidance of doubt, references to the Subsidiaries of the Issuer shall be deemed to include the Guarantor and its Subsidiaries.
"Subsidiary Guarantee" means, with respect to any series of Guaranteed Securities, each Subsidiary Guarantor's Guarantee of the Issuer's Obligations under the Indenture and the Guaranteed Securities pursuant to the terms of the Indenture and such Subsidiary Guarantor's Guarantee Agreement.
"Subsidiary Guarantor" means any Subsidiary of the Guarantor or the Issuer that Guarantees the Guaranteed Securities pursuant to the terms of the Indenture and the Guaranteed Securities.
"Successor Guarantee Trustee" means a successor Guarantee Trustee possessing the qualifications to act as Guarantee Trustee under Section 4.01.

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"Swap Contract" means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a "Master Agreement"), including any such obligations or liabilities under any Master Agreement. 
"Swap Termination Value" means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in the immediately preceding clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts.
"Synthetic Lease Obligation" means the monetary obligation of the Issuer or the Guarantor, as applicable, or any of its Subsidiaries under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 
"Trust Indenture Act" means the Trust Indenture Act of 1939, as amended, or any successor statute, as in effect at such time.

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ARTICLE II
TRUST INDENTURE ACT

2.01    Trust Indenture Act; Application.  
(a)    This Guarantee Agreement is subject to the provisions of the Trust Indenture Act that are required or deemed to be part of this Guarantee Agreement and shall, to the extent applicable, be governed by such provisions; and
(b)    If and to the extent that any provision of this Guarantee Agreement limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall control.
2.02    Lists of Holders of Guaranteed Securities.  
(a)    The Guarantor shall furnish or cause to be furnished to the Guarantee Trustee (a) semiannually, not later than June 1 and December 1 in each year, commencing December 1, 2017 a list, in such form as the Guarantee Trustee may reasonably require, of the names and addresses of the Holders in possession or control of the Issuer or any of its paying agents ("List of Holders") as of a date not more than 15 days prior to the delivery thereof, and (b) at such other times as the Guarantee Trustee may request in writing, within 30 days after the receipt by the Guarantor of any such request, a List of Holders as of a date not more than 15 days prior to the time such list is furnished; provided that, the Guarantor shall not be obligated to provide such List of Holders at any time the List of Holders does not differ from the most recent List of Holders given to the Guarantee Trustee by the Guarantor or the Issuer; and provided, further, that the Guarantor shall not be obligated to provide such List of Holders so long as the Guarantee Trustee shall be the Security Registrar.  The Guarantee Trustee may destroy any List of Holders previously given to it on receipt of a new List of Holders.
(b)    The Guarantee Trustee shall comply with its obligations under Section 311(a) of the Trust Indenture Act, subject to the provisions of Section 311(b) and Section 312(b) of the Trust Indenture Act.
2.03    Reports by Guarantee Trustee.  Not later than July 15 of each year, commencing July 15, 2018, the Guarantee Trustee shall provide to the Holders such reports, if any, as are required by Section 313(a) of the Trust Indenture Act in the form and in the manner provided by Section 313(a) of the Trust Indenture Act.  Any reports required by Section 313(a) of the Trust Indenture Act shall be dated as of April 15 of the year in which such report is delivered. The Guarantee Trustee shall also comply with the requirements of Sections 313(b), (c) and (d) of the Trust Indenture Act.

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2.04    Periodic Reports by Guarantor.  The Guarantor shall provide to the Guarantee Trustee, the Securities and Exchange Commission and the Holders such documents, reports and information, if any, as required by Section 314 of the Trust Indenture Act, and shall deliver to the Guarantee Trustee the compliance certificate required by Section 314(a)(4) of the Trust Indenture Act, each in the form, in the manner and at the times required by Section 314 of the Trust Indenture Act.
2.05    Evidence of Compliance with Conditions Precedent.  The Guarantor shall provide to the Guarantee Trustee such evidence of compliance with any conditions precedent provided for in this Guarantee Agreement as and to the extent required by Section 314(c) of the Trust Indenture Act.  Any certificate or opinion required to be given by an officer pursuant to Section 314(c)(1) of the Trust Indenture Act may be given in the form of an Officer's Certificate.
2.06    Events of Default; Waiver.  Unless otherwise provided in the Indenture with respect to any series of Guaranteed Securities, the Holders of all outstanding Guaranteed Securities of any series may, by vote, waive any past Event of Default and its consequences regarding such series of Guaranteed Securities.  Upon such waiver, any such Event of Default regarding such series of Guaranteed Securities shall cease to exist, and any such Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Guarantee Agreement, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.
2.07    Event of Default; Notice.  
(a)    The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, or, in the case the Guaranteed Securities are held in global form, in accordance with the applicable procedures of the Depositary (as defined in the Indenture), to the Holders, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided that the Guarantee Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.
(b)    The Guarantee Trustee shall not be deemed to have knowledge of any Event of Default unless a Responsible Officer charged with the administration of this Guarantee Agreement shall have actual knowledge of the Event of Default or written notice of such Event of Default shall have been given to the Guarantee Trustee by the Guarantor or by any Holder of Guaranteed Securities.

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2.08    Conflicting Interests.  The Indenture shall be deemed to be specifically described in this Guarantee Agreement for the purposes of clause (i) of the first proviso contained in Section 310(b) of the Trust Indenture Act.
ARTICLE III
POWERS, DUTIES AND RIGHTS OF GUARANTEE TRUSTEE 

3.01    Powers and Duties of Guarantee Trustee.  
(a)    This Guarantee Agreement shall not transfer any rights hereunder to any Person except to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee Trustee. The right, title and interest of the Guarantee Trustee shall automatically vest in any Successor Guarantee Trustee, and such vesting shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trustee.
(b)    The Guarantee Trustee, prior to the occurrence of any Event of Default and after the curing or waiving of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Guarantee Agreement, and no implied covenants or obligations shall be read into this Guarantee Agreement against the Guarantee Trustee.  In case an Event of Default has occurred (that has not been cured or waived pursuant to Section 2.06), and is actually known to a Responsible Officer of the Guarantee Trustee or written notice of such Event of Default has been given to the Guarantee Trustee by the Guarantor or by any Holder of Guaranteed Securities, the Guarantee Trustee shall exercise such of the rights and powers vested in it by this Guarantee Agreement, and use the same degree of care and skill in its exercise thereof, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs.
(c)    No provision of this Guarantee Agreement shall be construed to relieve the Guarantee Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that:
(i)    prior to the occurrence of any Event of Default and after the curing or waiving of all such Events of Default that may have occurred:
(A)    the duties and obligations of the Guarantee Trustee shall be determined solely by the express provisions of this Guarantee Agreement, and the Guarantee Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Guarantee Agreement, and no implied covenants or obligations shall be read into this Guarantee Agreement against the Guarantee Trustee; and

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(B)    in the absence of bad faith on the part of the Guarantee Trustee, the Guarantee Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Guarantee Trustee and conforming to the requirements of this Guarantee Agreement; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Guarantee Trustee, the Guarantee Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Guarantee Agreement (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein);
(ii)    the Guarantee Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer of the Guarantee Trustee, unless it shall be proved that the Guarantee Trustee was negligent in ascertaining the pertinent facts upon which such judgment was made;
(iii)    the Guarantee Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in aggregate principal amount of outstanding Guaranteed Securities relating to the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee, or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and
(iv)    no provision of this Guarantee Agreement shall require the Guarantee Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if the Guarantee Trustee shall have reasonable grounds for believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Guarantee Agreement or adequate indemnity, reasonably satisfactory to the Guarantee Trustee, against such risk or liability is not reasonably assured to it.
(d)    Whether or not therein expressly provided, every provision of this Guarantee Agreement relating to the conduct or affecting the liability of or affording protection to the Guarantee Trustee shall be subject to the provisions of Sections 3.01(b) and 3.01(c).

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3.02    Certain Rights of Guarantee Trustee.  
(a)    Subject to the provisions of Section 3.01:
(i)    the Guarantee Trustee may rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document reasonably believed by it to be genuine and to have been signed, sent or presented by the proper party or parties;
(ii)    as between the parties hereto, the Guarantee Trustee agrees to accept and act upon instructions or directions pursuant to this Guarantee Agreement sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods.  In the absence of gross negligence or willful misconduct, the Guarantee Trustee's understanding of any such instructions or directions as may be given by the Guarantor pursuant to this paragraph shall be deemed controlling.  The Guarantee Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Guarantee Trustee's reliance upon and compliance with such instructions or directions notwithstanding that such instructions or directions conflict or are inconsistent with a subsequent written instruction or direction received by the Guarantee Trustee after it has acted in compliance with the prior unsecured e-mail, facsimile transmission, or direction or instruction provided by other similar unsecured electronic methods.  The Guarantor providing electronic instructions or directions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Guarantee Trustee, including without limitation the risk of the Guarantee Trustee acting on unauthorized instructions or directions, and the risk of interception and misuse of such electronic instructions or direction by third parties;
(iii)    any direction or act of the Guarantor contemplated by this Guarantee Agreement shall be sufficiently evidenced by an Officer's Certificate;
(iv)    whenever, in the administration of this Guarantee Agreement, the Guarantee Trustee shall deem it desirable that a matter be proved or established before taking, suffering or omitting any action hereunder, the Guarantee Trustee (unless other evidence is herein specifically prescribed) may, in the absence of bad faith on its part, request and rely upon an Officer's Certificate which, upon receipt of such request, shall be promptly delivered by the Guarantor;
(v)    the Guarantee Trustee may consult with counsel of its choice, and the written advice or opinion of such counsel with respect to legal matters shall be 

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full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance on such advice or opinion; such counsel may be counsel to the Guarantor or any of its Affiliates and may include any of its employees; the Guarantee Trustee shall have the right at any time to seek instructions concerning the administration of this Guarantee Agreement from any court of competent jurisdiction;
(vi)    the Guarantee Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Guarantee Agreement at the request or direction of any Holder, unless such Holder shall have provided to the Guarantee Trustee such adequate security and indemnity as would satisfy a reasonable person in the position of the Guarantee Trustee, against the costs, expenses (including attorneys' fees and expenses) and liabilities that might be incurred by it in complying with such request or direction, including such reasonable advances as may be requested by the Guarantee Trustee; provided that, nothing contained in this Section 3.02(a)(v) shall be taken to relieve the Guarantee Trustee of its obligation under the last sentence of Section 3.01(b) to exercise the rights and powers vested in it by this Guarantee Agreement;
(vii)    the Guarantee Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Guarantee Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit;
(viii)    the Guarantee Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Guarantee Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder;
(ix)    whenever in the administration of this Guarantee Agreement the Guarantee Trustee shall deem it desirable to receive instructions with respect to enforcing any remedy or right or taking any other action hereunder, the Guarantee Trustee (1) may request instructions from the Holders of a majority in aggregate principal amount of outstanding Guaranteed Securities of any one or more series to which such instruction relates, (2) may refrain from enforcing such remedy or right or taking such other action until such instructions are received, and (3) shall be protected in relying on or acting in accordance with such instructions;

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(x)    the Guarantee Trustee shall have no duty to see to any recording, filing or registration of any instrument (including any financing or continuation statement or any tax or securities form) (or any rerecording, refiling or re-registration thereof);
(xi)    the Guarantee Trustee shall not be liable for any action taken, suffered or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Guarantee Agreement;
(xii)    in no event shall the Guarantee Trustee be responsible or liable for consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Guarantee Trustee has been advised of the likelihood of such loss or damage and regardless of the form of proceeding brought against the Guarantee Trustee; and
(xiii)    in no event shall the Guarantee Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Guarantee Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to (1) resume performance as soon as practicable under the circumstances; and (2) maintain its computer (hardware and software) services in good working order.
(b)    No provision of this Guarantee Agreement shall be deemed to impose any duty or obligation on the Guarantee Trustee to perform any act or acts or exercise any right, power, duty or obligation conferred or imposed on it in any jurisdiction in which it shall be illegal, or in which the Guarantee Trustee shall be unqualified or incompetent in accordance with applicable law, to perform any such act or acts or to exercise any such right, power, duty or obligation.  No permissive power or authority available to the Guarantee Trustee shall be construed to be a duty.
3.03    Not Responsible for Recitals of Guarantee Agreement.  The recitals contained in this Guarantee Agreement shall be taken as the statements of the Guarantor, and the Guarantee Trustee does not assume any responsibility for their correctness.  The Guarantee Trustee makes no representation as to the validity or sufficiency of this Guarantee Agreement except that it is duly authorized and qualified to enter into and perform its responsibilities under this Guarantee Agreement.

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ARTICLE IV
GUARANTEE TRUSTEE

4.01    Guarantee Trustee; Eligibility.  
(a)    There shall at all times be a Guarantee Trustee which shall:
(i)    not be an Affiliate of the Guarantor; and
(ii)    be a corporation organized and doing business under the laws of the United States of America or any State or Territory thereof or of the District of Columbia, or a corporation or Person permitted by the Securities and Exchange Commission to act as an institutional trustee under the Trust Indenture Act, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least 50 million U.S. dollars ($50,000,000), and subject to supervision or examination by Federal, State, Territorial or District of Columbia authority.  If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the supervising or examining authority referred to above, then, for the purposes of this Section 4.01(a)(ii), the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.
(b)    If at any time the Guarantee Trustee shall cease to be eligible to so act under Section 4.01(a), the Guarantee Trustee shall immediately resign in the manner and with the effect set out in Section 4.03(c).
(c)    If the Guarantee Trustee has or shall acquire any "conflicting interest" within the meaning of Section 310(b) of the Trust Indenture Act, the Guarantee Trustee and Guarantor shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act.
4.02    Compensation and Reimbursement.  The Guarantor agrees:
(a)    to pay the Guarantee Trustee from time to time such compensation as the Guarantor and the Guarantee Trustee shall from time to time agree in writing for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust);
(b)    except as otherwise expressly provided herein, to reimburse the Guarantee Trustee upon its request for all reasonable expenses, disbursements and advances reasonably incurred or made by the Guarantee Trustee in accordance with the provisions of this Guarantee Agreement (including the reasonable compensation and the expenses and disbursements of its agents 

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and counsel), except to the extent that any such expense, disbursement or advance as may be attributable to its negligence, willful misconduct or bad faith; and
(c)    to indemnify the Guarantee Trustee and hold it harmless from and against, any loss, liability or expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance of the trust or trusts hereunder or the performance of its duties hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence, willful misconduct or bad faith.
As security for the performance of the obligations of the Guarantor under this Section, the Guarantee Trustee shall have a lien prior to that of the Guaranteed Securities upon all property and funds held or collected by the Guarantee Trustee as such other than property and funds held in trust for the payment of principal, premium (if any) or interest on particular obligations of the Guarantor under this Guarantee Agreement.  "Guarantee Trustee" for purposes of this Section 4.02 shall include any predecessor Guarantee Trustee;  provided, however, that the negligence, willful misconduct or bad faith of any Guarantee Trustee hereunder shall not affect the rights of any other Guarantee Trustee hereunder.
The provisions of this Section shall survive the termination of this Guarantee Agreement.
4.03    Appointment, Removal and Resignation of Guarantee Trustee.  
(a)    Subject to Section 4.03(b), unless an Event of Default shall have occurred and be continuing, the Guarantee Trustee may be appointed or removed without cause at any time by the Guarantor.
(b)    The Guarantee Trustee shall not be removed until a Successor Guarantee Trustee has been appointed and has accepted such appointment by written instrument executed by such Successor Guarantee Trustee and delivered to the Guarantor.
(c)    The Guarantee Trustee appointed to office shall hold office until a Successor Guarantee Trustee shall have been appointed or until its removal or resignation.  The Guarantee Trustee may resign from office (without need for prior or subsequent accounting) by an instrument in writing executed by the Guarantee Trustee and delivered to the Guarantor, which resignation shall not take effect until a Successor Guarantee Trustee has been appointed and has accepted such appointment by instrument in writing executed by such Successor Guarantee Trustee and delivered to the Guarantor and the resigning Guarantee Trustee.

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(d)    If no Successor Guarantee Trustee shall have been appointed and accepted appointment as provided in this Section 4.03 within 30 days after delivery to the Guarantor of an instrument of resignation or removal, the Guarantee Trustee resigning or being removed may, at the expense of the Guarantor, petition any court of competent jurisdiction for appointment of a Successor Guarantee Trustee.  Such court may thereupon, after prescribing such notice, if any, as it may deem proper, appoint a Successor Guarantee Trustee.
(e)    The Guarantor shall give notice of each resignation and each removal of the Guarantee Trustee and each appointment of a successor Guarantee Trustee to all Holders in the manner provided in Section 6.05 hereof.  Each notice shall include the name of the successor Guarantee Trustee and the address of its Corporate Trust Office.
(f)    No Guarantee Trustee shall be liable for the acts or omissions to act of any Successor Guarantee Trustee.
ARTICLE V
GUARANTEE

5.01    Guarantee.  The Guarantor hereby absolutely and unconditionally guarantees to the Indenture Trustee, prompt and full payment, when and as the same may become due and payable, whether upon acceleration, redemption or stated maturity, according to their terms and the terms of the Indenture and any indenture supplement, Officer's Certificate or Board Resolution, of the principal, interest and premium, if any, due on each of the Guaranteed Securities outstanding at any time, but only in the case of a failure of the Issuer to pay or provide for punctual payment of any such amounts on or before the expiration of any applicable grace periods.  The Guarantor hereby agrees that its obligations under this Guarantee Agreement constitute a guarantee of payment when due and not of collection.
5.02    Waiver and Payments.  The Guarantor hereby waives demand of payment, presentment, protest and notice of protest, non-payment, default or dishonor on any and all of the Guaranteed Securities.  Payments by the Guarantor to the Indenture Trustee for the account of the Holders pursuant to this Guarantee Agreement shall be made at the main corporate trust office of the Indenture Trustee, which as of the date hereof is located at 101 Barclay Street, New York, New York 10286, in lawful money of the United States of America.
5.03    Absolute and Unconditional.  The Guarantor hereby agrees that its obligations hereunder shall be absolute and shall be complete and binding.  This Guarantee Agreement contains the full agreement of the Guarantor and is not subject to any oral conditions.
The Guarantor agrees that the obligations of the Guarantor set forth in this Guarantee Agreement shall not be subject to any counterclaim, set off, deduction, recoupment, or suspension, 

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or released, discharged or in any way affected or impaired by, any circumstances or conditions whatsoever, including, without limitation, any invalidity, irregularity or unenforceability of any Guaranteed Securities or the Indenture, any failure to enforce the provisions of such Guaranteed Securities or the Indenture, or any waiver, modification or indulgence granted to the Issuer with respect thereto by the Holders of such Guaranteed Securities or the Indenture Trustee or any other circumstances or condition which may otherwise constitute a legal or equitable discharge or defense of a surety or guarantor.
The obligations of the Guarantor set forth herein constitute the full recourse obligations of the Guarantor enforceable against it to the full extent of all its assets and properties.  Without limiting the generality of the foregoing, the Guarantor agrees that (a) repeated and successive demands may be made and recoveries may be had hereunder as and when, from time to time, the Issuer shall default under or fail to make payments when due under the Indenture and that, notwithstanding the recovery hereunder for or in respect of any given default or failure to so comply by the Issuer under the Indenture, this Guarantee Agreement shall remain in force and effect and shall apply to each and every subsequent default, and (b) in the event that any payment guaranteed hereunder is made by the Issuer, and thereafter all or any part of such payment is recovered from the Guarantee Trustee, the Indenture Trustee or any Holder of Guaranteed Securities upon the insolvency, bankruptcy or reorganization of the Issuer, the liability of the Guarantor hereunder with respect to such payment so paid and recovered shall continue and remain in full force and effect as if, to the extent of such recovery, such payment had not been made.
If (x) an event permitting a declaration of acceleration under Section 802 of the Indenture shall at any time have occurred and be continuing, (y) the Holders of not less than 33% in principal amount of all outstanding Guaranteed Securities, or not less than 33% in principal amount of all outstanding Guaranteed Securities of the series to which the Event of Default relates, as applicable, have made, or have attempted to make, such a declaration of acceleration, and (z) such declaration of acceleration, or any consequences thereof provided in the Indenture, shall at any time be prevented by reason of the pendency against the Issuer of a case or proceeding under any bankruptcy or insolvency law, the Guarantor agrees that, solely for purposes of this Guarantee Agreement and its obligations hereunder, such declaration of acceleration shall be deemed to have been made, with all the attendant consequences as provided in the Indenture as if declaration of acceleration and the consequences thereof had been accomplished in accordance with the terms of the Indenture.
5.04    Waiver of Notice.  The Guarantor hereby expressly waives notice from the Indenture Trustee of its acceptance and reliance on this Guarantee Agreement.
5.05    Duration.  The obligations hereunder shall be continuing and irrevocable until the date upon which all of the outstanding Guaranteed Securities have been, or have been 

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deemed pursuant to the provisions of Article Seven of the Indenture to have been, fully paid and performed.
If, in accordance with the last paragraph of Section 701 of the Indenture, any Guaranteed Securities are retroactively deemed not to have been paid, and any satisfaction of the Issuer's indebtedness in respect thereof is retroactively deemed not to have been effected, the obligations of the Guarantor hereunder shall be deemed retroactively not to have been terminated or discharged.
5.06    Certain Rights, Remedies and Powers of Guaranteed Persons.  The Guarantee Trustee, the Indenture Trustee and the Holders of Guaranteed Securities shall have all of the rights and remedies available under applicable law and may proceed by appropriate court action to enforce the terms hereof and to recover damages for the breach hereof.  Each and every remedy of each such Person shall, to the extent permitted by law, be cumulative and shall be in addition to any other remedy now or hereafter existing at law or in equity.  At the option of any such Person, the Guarantor may be joined in any action or proceeding commenced by such Person against the Issuer in respect of any obligations under this Guarantee Agreement, and recovery may be had against the Guarantor in such action or proceeding or in any independent action or proceeding against the Guarantor, without any requirement that any remedy or claim against the Issuer be first asserted, prosecuted or exhausted.
5.07    Delays.  No failure, omission or delay on the part of the Guarantee Trustee or the Indenture Trustee in exercising any of their respective rights hereunder or in taking any action to collect or enforce payment of any obligation to which this Guarantee Agreement applies, against the Issuer, shall operate as a waiver of any such right or in any manner prejudice the rights of the Guarantee Trustee or the Indenture Trustee against the Guarantor.
5.08    Covenants of the Guarantor.  
(a)    The Guarantor will not, and will not permit any Subsidiary Guarantor to, create or permit to exist any Lien upon any property or assets, including Equity Interests issued by the Issuer or any Subsidiary Guarantor, in order to secure any Indebtedness of NEP, the Issuer, or such Subsidiary Guarantor without providing for the Guaranteed Securities to be equally and ratably secured with (or prior to) any and all such Indebtedness and any other Indebtedness similarly entitled to be equally and ratably secured, for so long as such Indebtedness is so secured; provided, however, that this restriction will not apply to, or prevent the creation or existence of:
(i)    purchase money liens or purchase money security interests upon or in any property acquired by NEP, the Issuer or such Subsidiary Guarantor in the ordinary course of business to secure the purchase price or construction cost of such 

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property or to secure indebtedness incurred solely for the purpose of financing the acquisition of such property or construction of improvements on such property;
(ii)    Liens existing on property acquired by NEP, the Issuer or such Subsidiary Guarantor at the time of its acquisition, provided that such Liens were not created in contemplation of such acquisition and do not extend to any assets other than the property so acquired;
(iii)    Liens securing Funded Debt recourse for which is limited to specific assets of NEP, the Issuer or such Subsidiary Guarantor created for the purpose of financing the acquisition, improvement or construction of the property subject to such Liens;
(iv)    the replacement, extension or renewal of any Lien permitted by clauses (i) through (iii) above upon or in the same property theretofore subject thereto or the replacement, extension or renewal (without increase in the amount or change in the direct or indirect obligor) of the Indebtedness secured thereby;
(v)    Liens upon or with respect to margin stock;
(vi)    to the extent constituting Liens on Indebtedness, the rights of the parties to the Cash Sweep and Credit Support Agreement and the Management Services Agreement to borrow cash from NEP or any Subsidiary;
(vii)    Liens securing Funded Debt of the Issuer or such Subsidiary Guarantor (including Indebtedness pursuant to the Existing Credit Agreement and the Existing Term Loan Agreements (including any secured Hedging Obligations)) that ranks no more senior in right of payment (irrespective of such Liens) than pari passu with the Guaranteed Securities; provided that as of the date of incurrence of any such Funded Debt, and after giving effect thereto, the aggregate principal amount of all Funded Debt of the Issuer or such Subsidiary Guarantor then outstanding that is secured by Liens granted by the Issuer and the Subsidiary Guarantors or any of them shall not exceed the greater of (a) $1,000,000,000 and (b) the amount that would cause the OpCo Secured Leverage Ratio to exceed 4.0:1.0; and
(viii)    any other Liens (other than Liens described in clauses (i) through (vii) above, if the aggregate principal amount of the indebtedness secured by all such Liens and security interests (without duplication) does not exceed in the aggregate $10,000,000 at any one time outstanding;
provided that (x) the aggregate principal amount of the indebtedness secured by the Liens described in clauses (i) through (iii) above, inclusive, shall not exceed the greater of the aggregate fair value, the aggregate 

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purchase price or the aggregate construction cost, as the case may be, of all properties subject to such Liens and (y) in no event shall the Issuer or any of its Subsidiaries create or permit to exist any Lien on the Equity Interests of NextEra Canadian Holdings.
For the purposes hereof, "OpCo Secured Leverage Ratio" means, as of any date of determination, the ratio of (a) OpCo Funded Debt that is secured by Liens granted by the Issuer and the Subsidiary Guarantors, or any of them, to (b) the NEP OpCo Adjusted Covenant Cash Flow.  Notwithstanding anything herein to the contrary, when calculating the OpCo Secured Leverage Ratio, the Swap Termination Value of all Swap Contracts of the Issuer and the Subsidiary Guarantors then outstanding shall be excluded from the calculation of OpCo Funded Debt.
(b)    With respect to any Guaranteed Securities, the Guarantor covenants and agrees to comply with any provision in the Indenture requiring the Guarantor to take or refrain from taking actions that are specifically contemplated to be observed or performed by the Guarantor, including, without limitation, Section 1102 of the Indenture, which provisions are hereby incorporated by reference herein.
5.09    Release of Guarantee Agreement.  With respect to any series of Guaranteed Securities, this Guarantee Agreement and all obligations of the Guarantor hereunder shall be released automatically and without any further action:
(a)    in connection with any sale or other disposition of all or substantially all of the assets of the Guarantor (including by way of merger or consolidation) to a Person that is not (either before or after giving effect to such transaction) NEP or a Subsidiary of NEP;
(b)    in connection with any sale or other disposition of Capital Stock of the Guarantor to a Person that is not (either before or after giving effect to such transaction) NEP or a Subsidiary of NEP, if following such sale or other disposition, the Guarantor is no longer a direct or indirect Subsidiary of NEP;
(c)    upon repayment in full of such series of Guaranteed Securities;
(d)    upon defeasance or satisfaction and discharge of such series of Guaranteed Securities as provided in Article Seven of the Indenture;
(e)    upon a dissolution of the Guarantor that is permitted under the Indenture;
(f)    upon the prior consent of Holders of at least two-thirds in aggregate principal amount of such series of Guaranteed Securities then Outstanding; or
(g)    upon the Guarantor being released from all of its Obligations in respect of Indebtedness of the Issuer, NEP or any other Person that Guarantees Securities in accordance with the provisions of the Indenture or a Guarantee Agreement and the Issuer, NEP and each other Person 

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that Guarantees Securities in accordance with the provisions of the Indenture or a Guarantee Agreement being released of their respective Obligations in respect of Indebtedness of the Guarantor.
ARTICLE VI
MISCELLANEOUS

6.01    Amendments.  This Guarantee Agreement may only be amended by an instrument in writing duly executed by the Guarantor and the Guarantee Trustee.  Except with respect to any changes that do not materially adversely affect the rights of Holders (in which case no consent of Holders will be required), this Guarantee Agreement may only be amended with the prior written approval of the Holders of a majority in aggregate principal amount of outstanding Guaranteed Securities; provided that (a) no such amendment shall be inconsistent with Article TWELVE of the Indenture with respect to the Guaranteed Securities or this Guarantee Agreement and (b) the right of any Holder to receive payment under this Guarantee Agreement on the due date of the Guaranteed Securities held by such Holder, or to institute suit for the enforcement of such payment on or after such due date, shall not be impaired or affected without the consent of such Holder.
6.02    Waiver of Subrogation.  The Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guarantee Agreement until all of the Obligations in respect of the Guaranteed Securities and any amounts payable under this Guarantee Agreement have been indefeasibly paid and performed in full.
6.03    Usurious Interest.  It is not the intention of the Guarantee Trustee nor the Guarantor to obligate the Guarantor to pay interest in excess of that legally permitted to be paid by the Guarantor under applicable law and should it be determined that the Guarantor is required to pay usurious interest on any Guaranteed Security, the obligations of the Guarantor shall be limited to paying the maximum rate permitted under said applicable law.  This provision shall not limit in any respect, other than the payment of such interest as may be usurious, the obligation of the Guarantor to pay the principal amount due plus other amounts due on the Guaranteed Securities.
6.04    Successors and Assigns.  All guarantees and agreements contained in this Guarantee Agreement shall bind the successors, assigns, receivers, trustees and representatives of the Guarantor and shall inure to the benefit of the Holders of the Guaranteed Securities then outstanding; provided, however, that, the obligations of the Guarantor under this Guarantee Agreement may not be assigned or otherwise transferred without the prior written consent of the Guarantee Trustee and the Indenture Trustee (acting at the direction of the Holders of a majority of the aggregate principal amount of Guaranteed Securities) except pursuant to any merger, consolidation, conveyance or other transfer that would not constitute an Event of Default under, and as defined in, the Indenture, in which case no such prior written consent shall be required.

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6.05    Notices.  Any notice, request or other communication required or permitted to be given hereunder shall be in writing, duly signed by the party giving such notice, and delivered, telecopied or mailed by first class mail as follows:
(a)    if given to the Guarantor, to the address set forth below or such other address as the Guarantor may give notice of to the Guarantee Trustee and the Holders of the Guaranteed Securities:
	
	
	NextEra Energy US Partners Holdings, LLC 
700 Universe Boulevard  
Juno Beach, Florida 33408 
Facsimile No:  (561) 694-3707 
Attention:  Treasurer

(b)    if given to the Issuer, at the Issuer's address set forth below or such other address as the Issuer may give notice of to the Guarantee Trustee and the Holders: :
	
	
	NextEra Energy Operating Partners, LP 
700 Universe Boulevard  
Juno Beach, Florida 33408 
Facsimile No:  (561) 694-3707 
Attention:  Treasurer

(c)    if given to the Guarantee Trustee, to the address set forth below or such other address as the Guarantee Trustee may give notice of to the Guarantor and the Holders of the Guaranteed Securities:
	
	
	The Bank of New York Mellon 
101 Barclay Street 
New York, New York 10286 
Facsimile No:  (212) 815-5915 
Attention:  Corporate Trust Administration

(d)    if given to the Indenture Trustee, to the address set forth below or such other address as the Indenture Trustee may give notice of to the Guarantor and the Holders of the Guaranteed Securities: 
	
	
	The Bank of New York Mellon 
101 Barclay Street 
New York, New York 10286 
Facsimile No:  (212) 815-5915 
Attention:  Corporate Trust Administration

(e)    if given to any Holder, at the address set forth on the books and records of the Issuer.

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All notices hereunder shall be deemed to have been given when received in person, telecopied with receipt confirmed, or mailed by first class mail, postage prepaid, except that if a notice or other document is refused delivery or cannot be delivered because of a changed address of which no notice was given, such notice or other document shall be deemed to have been delivered on the date of such refusal or inability to deliver.
6.06    Benefit.  This Guarantee Agreement is solely for the benefit of the Indenture Trustee and the Guarantee Trustee for the benefit of the Holders and, subject to Section 3.01(a), is not separately transferable from the Guaranteed Securities.
6.07    No Fraudulent Conveyance.  The Guarantor confirms that it is its intention that the guarantee contained in Article V not constitute a fraudulent transfer or conveyance for purposes of any bankruptcy, insolvency or similar Law, the Uniform Fraudulent Conveyance Act or any similar federal or state Law.  To effectuate the foregoing intention, the Guarantor hereby irrevocably agrees that its obligations hereunder shall be limited to the maximum amount as will, after giving effect to such maximum amount and all other (contingent or otherwise) liabilities of the Guarantor that are relevant under such laws and after giving effect to any rights to contribution pursuant to applicable law, result in its obligations hereunder in such maximum amount not constituting a fraudulent transfer or conveyance.
6.08    Governing Law.  This Guarantee Agreement shall be governed by and construed in accordance with the laws of the State of New York. 
6.09    Separability.  Wherever possible, each provision of this Guarantee Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Guarantee Agreement shall be prohibited by or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Guarantee Agreement.
6.10    WAIVER OF JURY TRIAL.  EACH OF THE GUARANTOR AND THE GUARANTEE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTEE AGREEMENT OR THE TRANSACTION CONTEMPLATED HEREBY.
6.11    Subsidiary Guarantee.  The Guarantor represents that it is a wholly owned subsidiary of the Issuer and that this Guarantee Agreement may reasonably be expected to benefit, directly or indirectly, the Guarantor.  The Guarantor further represents that the consideration received for this Guarantee Agreement is reasonably worth at least as much as the liability and obligation of the Guarantor under this Guarantee Agreement.

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6.12    Counterpart Originals.  This Guarantee Agreement may be executed in any number of counterparts (which may be delivered by any standard form of telecommunication), each of which shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.
This instrument may be executed in any number of counterparts (which may be delivered by any standard form of telecommunication), each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

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THIS GUARANTEE AGREEMENT is executed, in New York, New York, as of the day and year first above written.
	
		
	 
	NextEra Energy US Partners Holdings, LLC,
       As Guarantor

By: ARMANDO PIMENTEL, JR.                 
       Name: Armando Pimentel, Jr.                  
       Title: President

[Signature Page to US Holdings Guarantee Agreement (Senior Notes)]

	
		
	 
	The Bank of New York Mellon,
   As Guarantee Trustee

By: LAURENCE J. O'BRIEN                        
       Name: Laurence J. O'Brien                      
       Title:   Vice President                               

[Signature Page to US Holdings Guarantee Agreement (Senior Notes)]Exhibit

Exhibit 4.4

NEXTERA ENERGY OPERATING PARTNERS, LP
OFFICER’S CERTIFICATE
Creating the  
4.25% Senior Notes due 2024 
and
4.50% Senior Notes due 2027
    
Paul I. Cutler, the Treasurer of NextEra Energy Operating Partners GP, LLC, the General Partner of NextEra Energy Operating Partners, LP (“NEP OpCo” or the “Company”), pursuant to the authority granted in the accompanying Board Resolutions (all capitalized terms used herein which are not defined herein or in Exhibit A, but which are defined in the Indenture referred to below, shall have the meanings specified in the Indenture), and pursuant to Sections 201 and 301 of the Indenture, does hereby certify to The Bank of New York Mellon (the “Trustee”), as Trustee under the Indenture dated as of September 25, 2017 between the Company and the Trustee, as amended (the “Indenture”), that:
1.    The securities to be issued under the Indenture in accordance with this certificate shall be designated “4.25% Senior Notes due 2024” (the “2024 Notes”) and “4.50% Senior Notes due 2027” (the “2027 Notes” and, together with the 2024 Notes, the “Notes”).  The Notes shall be issued in substantially the form thereof set forth in Exhibit A hereto.
2.    With respect to the Notes, each of the following shall be additional definitions under the Indenture:
“Applicable Premium” means, with respect to any Note on any redemption date, the greater of:
(1) 1.0% of the principal amount of such Note; or
(2) the excess (if any) of:
(a) (i) the sum of the present value at such redemption date of (I) 100% of the principal amount of such Note plus (II) all remaining scheduled payments of interest due on such Note to and including, the maturity date of such Note, discounted to such redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points minus (ii) accrued but unpaid interest to, but excluding, such redemption date; over
(b) the then-Outstanding principal amount of such Note.
“Capital Lease Obligation” means, at the time any determination is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP, and the stated maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty.
“Capitalized Leases” means, with respect to any Person, leases that have been or should be, in accordance with generally accepted accounting principles, recorded as capital leases on the balance sheet of such Person.

“Cash Equivalents” means any of the following types of Investments, to the extent owned by NEP OpCo, NextEra US Holdings or NextEra Canadian Holdings or any of their Subsidiaries free and clear of all Liens (other than Liens securing the Existing Credit Agreement or the Existing Term Loan Agreements):
(1)    readily marketable obligations issued or directly and fully guaranteed or insured by the United States of America or any agency or instrumentality thereof having maturities of not more than 360 days from the date of acquisition thereof; provided that the full faith and credit of the United States of America is pledged in support thereof;
(2)    time deposits with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that (i) (A) is a lender under the Existing Credit Agreement or the Existing Term Loan Agreements or (B) is organized under the laws of the United States of America, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company organized under the laws of the United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause (3) of this definition and (iii) has combined capital and surplus of at least US$1,000,000,000, in each case with maturities of not more than 12 months from the date of acquisition thereof; 
(3)    commercial paper issued by any Person organized under the laws of any state of the United States of America and rated at least “Prime-1” (or the then equivalent grade) by Moody’s or at least “A-1” (or the then equivalent grade) by S&P, in each case with maturities of not more than 12 months from the date of acquisition thereof; and
(4)    Investments, classified in accordance with generally accepted accounting principles as current assets of NEP OpCo, NextEra US Holdings or NextEra Canadian Holdings or any of their Subsidiaries, in money market investment programs registered under the Investment Company Act of 1940, as amended, which are administered by financial institutions that have the highest rating obtainable from either Moody’s or S&P, and the portfolios of which are limited solely to Investments of the character, quality and maturity described in clauses (1), (2) and (3) of this definition.
“Cash Sweep and Credit Support Agreement” means the Amended and Restated Cash Sweep and Credit Support Agreement dated as of August 4, 2017 entered into between NEP OpCo and NextEra Energy Resources, LLC, as in effect on the Issue Date.
“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 consolidated assets of NEP OpCo and its Subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d) of the Exchange Act, but excluding any employee benefit plan of NEP or any of its Subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of such plan) other than to NEP or to one or more of NEP’s or NEP OpCo’s Wholly-Owned Subsidiaries;
(2)    the adoption of a plan relating to the liquidation or dissolution of NEP OpCo or NEP; 
(3)    any “person” (as that term is used in Section 13(d) of the Exchange Act, but excluding any employee benefit plan of NEP or any of its Subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of such plan) other than NextEra Energy, Inc. files a Schedule TO or any schedule, form or report under the Exchange Act 

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disclosing that such person has become the direct or indirect “Beneficial Owner,” as defined in Rule 13d-3 under the Exchange Act, of fifty percent (50%) or more of the common units representing limited partner interests of NEP (as measured by voting power rather than the number of shares, units or the like, and excluding voting power exercisable pursuant to a proxy granted by a limited partner in connection with a proxy solicitation conducted pursuant to Regulation 14A of the Exchange Act), if such acquisition gives such person the right to elect half or more of the members of NEP’s or NEP GP’s respective Board of Directors;
(4)    the first day on which NEP ceases to own 100% of the Equity Interests of the general partner of NEP OpCo; or
(5)    the first day on which a majority of the members of the Board of Directors of NEP are not Continuing Directors.
Notwithstanding the preceding, a conversion of NEP, any of its Subsidiaries or NEP GP from a limited liability company, corporation, limited partnership or other form of entity to a limited liability company, corporation, limited partnership or other form of entity or an exchange of all of the outstanding Equity Interests in one form of entity for Equity Interests in another form of entity shall not constitute a Change of Control, so long as following such conversion or exchange the “persons” (as that term is used in Section 13(d)(3) of the Exchange Act) who Beneficially Owned, directly or indirectly, the Voting Stock of NEP immediately prior to such transactions continue to Beneficially Own, directly or indirectly, in the aggregate more than 50% of the Voting Stock of such entity, or continue to Beneficially Own, directly or indirectly, sufficient Equity Interests in such entity to elect a majority of its directors, managers, trustees or other persons serving in a similar capacity for such entity or its general partner, as applicable, and, in either case no “person” Beneficially Owns, directly or indirectly, more than 50% of the Voting Stock of such entity or its general partner, as applicable.
“Change of Control Triggering Event” means (1) a Change of Control has occurred and (2) the Notes are downgraded by both S&P and Moody’s on any date during the period commencing 60 days prior to the consummation of such Change of Control and ending 60 days following consummation of such Change of Control.
“Continuing Director” means, as of any date of determination, any member of the Board of Directors of NEP who: (1) was a member of such Board of Directors on the Issue Date; (2) 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 at the time of such nomination or election; or (3) was appointed by NEP GP.
“Covenant Cash” means, without duplication, internally generated cash and Cash Equivalents distributed by the Project Companies, NextEra US Holdings and NextEra Canadian Holdings, directly or indirectly, to NEP OpCo or NextEra US Holdings, as applicable, in respect of the Equity Interests of the Project Companies, NextEra US Holdings and NextEra Canadian Holdings owned, directly or indirectly, by NEP OpCo (other than dividends or other distributions that are funded, directly or indirectly, with substantially concurrent cash Investments, or cash Investments that were not used by a Project Company, NextEra US Holdings or NextEra Canadian Holdings for capital expenditures or for operational purposes, by NEP OpCo or any of its Subsidiaries in a Project Company, NextEra US Holdings and NextEra Canadian Holdings), excluding (a) the proceeds of any extraordinary receipts (including cash payments or proceeds received (i) from any Disposition by NEP OpCo or any of its Subsidiaries, (ii) under any casualty insurance policy in respect of a covered loss thereunder or (iii) as a result of the taking of any assets of NEP OpCo or any of its Subsidiaries by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking) and (b) any cash that is derived from (i) cash grants and similar items to the 

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Project Companies, NextEra US Holdings and NextEra Canadian Holdings, (ii) any incurrence of Funded Debt by the Project Companies, NextEra US Holdings and NextEra Canadian Holdings, (iii) any issuance of Equity Interests by the Project Companies, NextEra US Holdings and NextEra Canadian Holdings, or (iv) any capital contribution to the Project Companies, NextEra US Holdings and NextEra Canadian Holdings.
“Covenant Cash Flow” means, at any date of determination, an amount equal to the Covenant Cash received by NEP OpCo or NextEra US Holdings, as applicable, during the most recently completed Measurement Period, together with amounts deemed received in accordance with the definition of “Pro Forma Effect” (as defined in the Existing Credit Agreement as in effect on the Issue Date).
“Disposition” or “Dispose” means the sale, transfer, lease, distribution or other disposition (including any sale and leaseback transaction) of any property by any Person (or the granting of any option or other right to do any of the foregoing), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith.
“Domestic Subsidiary” means any Subsidiary of NEP that was formed under the laws of the United States or any state of the United States or the District of Columbia other than (1) NEP OpCo and (2) any Subsidiary of NextEra Energy Canadian Holdings.
“Excess Fee Adjustment” means, for any Measurement Period, an amount equal to the amount by which the aggregate Fees for such Measurement Period exceed twenty percent (20%) of the total Covenant Cash Flow for such period (before any deduction therefrom for any Fees).
“Existing Credit Agreement” means the Revolving Credit Agreement, by and between NEP OpCo, NextEra Canadian Holdings, and NextEra US Holdings, and Bank of America, N.A., as administrative agent and collateral agent, and Bank of America, N.A. (Canada Branch), as Canadian agent for the lenders and the lenders party thereto, dated as of July 1, 2014, as amended to date, as the same may be amended, restated, modified, renewed, refunded, replaced or refinanced from time to time.  
“Existing Term Loan Agreements” means the bi-lateral term loan agreements in effect as of the Issue Date entered into by NextEra US Holdings, as borrower, NEP OpCo, as Guarantor, and the respective financial institutions parties thereto, each as amended to date, and each as may be amended, restated, modified, renewed, refunded, replaced or refinanced from time to time.
“Fees” means the Quarterly Fee Amount (as defined in the Management Services Agreement), the Additional Fee Amount (as defined in the Management Services Agreement), the IDR Fee (as defined in the Management Services Agreement) and the Credit Support Fee (as defined in the Cash Sweep and Credit Support Agreement)  as required pursuant to the Cash Sweep and Credit Support Agreement and the Management Services Agreement.
“Funded Debt” means, as of the date of any determination thereof, the following (without duplication) with respect to any Person, determined on a consolidated basis in accordance with generally accepted accounting principles (other than as consolidated on the balance sheet of such Person solely as a result of the operation of the variable interest entity provisions in FASB ASC 810, and without giving effect to any change to Funded Debt or equity as a result of the operation of FASB ASC 715): 
(1)    all indebtedness for borrowed money (other than trade liabilities incurred in the ordinary course of business and payable in accordance with customary practices);
(2)    all obligations evidenced by bonds, indentures, notes and other similar instruments;

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(3)    all obligations with respect to the deferred purchase price of property (other than as described in clause (4) below and other than trade liabilities incurred in the ordinary course of business and payable in accordance with customary practices) to the extent that such obligations are absolute and fixed and not subject to any right of cancellation by such Person and/or any of its Subsidiaries; 
(4)    all obligations with respect to construction services to be performed, but only to the extent such obligations have become due and owing as of the date of any such determination pursuant to the provisions of the specific agreement evidencing such obligations; 
(5)    all obligations of such Person and its Subsidiaries as lessee under (a) Capitalized Leases and (b) Synthetic Lease Obligations;
(6)    all liabilities secured by any Lien on any property owned by such Person or any of its Subsidiaries;
(7)    all obligations, contingent or otherwise, of such Person and its Subsidiaries in respect of acceptances, letters of credit or similar extensions of credit; 
(8)    all net obligations under Swap Contracts in an amount equal to the Swap Termination Value thereof; 
(9)    any Mandatorily Redeemable Stock of such Person and its Subsidiaries (the amount of such Mandatorily Redeemable Stock to be determined for this purpose as the higher of the liquidation preference and the amount payable upon redemption of such Mandatorily Redeemable Stock); 
(10)    any liabilities in respect of unfunded vested benefits under plans covered by Title IV of ERISA; and 
(11)    guarantees of obligations of the type described in any of clause (1) – clause (10) of this definition, but only to the extent of the indebtedness guaranteed thereby which is then outstanding as of the date of any such determination pursuant to the provisions of the agreement in respect of which such obligation exists or arises.
“Guarantor” means each of:
(1)    NEP, until such time as it is released pursuant to the provisions of the Indenture; 
(2)    NextEra Energy US Partners Holdings, LLC, until such time as it is released pursuant to the provisions of the Indenture; and
(3)     any other Person that executes a Guarantee Agreement in respect of the Notes in accordance with the provisions of the Indenture or the Guarantee Agreements, and their respective successors and assigns.
“Hedging Obligations” means, with respect to any specified Person, the obligations of such Person under:
(1)    currency exchange, interest rate or commodity swap agreements, currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements; and
(2)    (a) agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates, commodity prices or commodity transportation or transmission pricing or availability; (b) any netting arrangements, power purchase and sale agreements, fuel purchase and sale agreements, swaps, options and other agreements, in each 

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case, that fluctuate in value with fluctuations in energy, power or gas prices; and (c) agreements or arrangements for commercial or trading activities with respect to the purchase, transmission, distribution, sale, lease or hedge of any energy related commodity or service.
“Indebtedness” means, with respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables, except as provided in clause (5) below), whether or not contingent:
(1)    in respect of borrowed money;
(2)    evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof);
(3)    in respect of banker’s acceptances;
(4)    representing Capital Lease Obligations in respect of sale and leaseback transactions;
(5)    representing the balance of deferred and unpaid purchase price of any property or services with a scheduled due date more than six months after such property is acquired or such services are completed; or
(6)    representing the net amount owing under any Hedging Obligations, if and to the extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP.
In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person; provided that the amount of such Indebtedness shall be deemed not to exceed the lesser of the amount secured by such Lien and the value of the Person’s property securing such Lien.
“Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (1) the purchase or other acquisition of Equity Interests of another Person, (2) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or interest in, another Person, or (3) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit or all or a substantial part of the business of, such Person.  For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment.
“Issue Date” means September 25, 2017.
“Lien” means any mortgage, pledge, lien, security interest or other charge or encumbrance with respect to any present or future assets or properties of the Person referred to in the context in which the term is used.
“Management Services Agreement” means the Second Amended and Restated Management Services Agreement dated as of August 4, 2017 entered into among NEP OpCo, NEP, NextEra energy Operating Partners GP, LLC and NextEra Energy Management Partners, LP, as in effect on the Issue Date.
“Mandatorily Redeemable Stock” means, with respect to any Person, any share of such Person’s capital stock to the extent that it is (1) redeemable, payable or required to be purchased or otherwise retired or extinguished, or convertible into any indebtedness or other liability of such Person, (a) at a fixed or determinable date, whether by operation of a sinking fund or otherwise, (b) at the option of any Person other than such Person, or (c) upon the occurrence of a condition not solely within the control of such 

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Person, such as a redemption required to be made out of future earnings, or (2) presently convertible into Mandatorily Redeemable Stock.
“Measurement Period” means, at any date of determination, the most recently completed four fiscal quarters of NEP OpCo or NextEra US Holdings, as applicable, for which financial statements are available.
     “Moody’s” means Moody’s Investors Service, Inc. or any successor entity.
“NEP GP” means NextEra Energy Partners, GP, Inc., a Delaware corporation, and its successors and permitted assigns that are admitted to NEP as general partner of NEP, in their capacity as general partner of NEP (except as the context otherwise requires). NEP GP is the sole general partner of NEP and the holder of the NEP General Partner Interest.
“NEP General Partner Interest” has the meaning ascribed to the term “General Partner Interest” in the NEP Limited Partnership Agreement. 
“NEP Limited Partnership Agreement” means the Second Amended and Restated Agreement of Limited Partnership of NEP, as amended through the Issue Date, and as it may be further amended, supplemented or restated from time to time.
“NEP OpCo” means NextEra Energy Operating Partners, LP.
“NEP OpCo Adjusted Covenant Cash Flow” means, at any date of determination, the Covenant Cash Flow for the Measurement Period for which such determination is being made, minus the Excess Fee Adjustment for such period.
“NextEra Canadian Holdings” means NextEra Energy Canada Partners Holdings, ULC, an unlimited liability company organized and existing under the laws of the Province of British Columbia.
“NextEra US Holdings” means NextEra Energy US Partners Holdings, LLC, a Delaware limited liability company. 
“Project Company” means each  direct or indirect Subsidiary or any joint venture of NEP OpCo, NextEra US Holdings or NextEra Canadian Holdings that is created or acquired by NEP OpCo, NextEra US Holdings or NextEra Canadian Holdings and is the direct or indirect owner or lessee, or intended to become the direct or indirect owner, lessee or developer of all or any portion of any generating, transmission, distribution or other operating assets, or assets relating thereto (in each such case, a “Project”), together with the direct and indirect parents and subsidiaries of such Person, but excluding NEP OpCo, NextEra US Holdings or NextEra Canadian Holdings and any direct or indirect owner of any Equity Interest in NEP OpCo, NextEra US Holdings or NextEra Canadian Holdings.
 “S&P” means Standard & Poor’s Ratings Group or any successor entity.
“Subsidiary Guarantee” means, with respect to the Notes, each Subsidiary Guarantor’s Guarantee of NEP OpCo’s Obligations under the Indenture and Notes pursuant to the terms of the Indenture and such Subsidiary Guarantor’s Guarantee Agreement.
“Subsidiary Guarantor” means any Subsidiary of NEP or NEP OpCo that Guarantees the Notes pursuant to the terms of the Indenture and the Notes.
“Swap Contract” means (1) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar 

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transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (2) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 
“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (1) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (2) for any date prior to the date referenced in the immediately preceding clause (1), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts.
“Synthetic Lease Obligation” means the monetary obligation of NEP OpCo or NextEra US Holdings, as applicable, or any of its Subsidiaries under (1) a so-called synthetic, off-balance sheet or tax retention lease, or (2) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
“Treasury Rate” means, as of any redemption date with respect to the Notes, the yield to maturity computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent statistical release designated as “H.15” under the caption “Treasury constant maturities” or any successor publication which is published at least weekly by the Board of Governors of the Federal Reserve System (or companion online data resource published by the Board of Governors of the Federal Reserve System) and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity that has become publicly available at least two Business Days prior to the redemption date (or, if such statistical release is no longer published, any publicly available source or similar market data)) most nearly equal to the period from the redemption date the maturity date of such Notes; provided, however, that if the period from the redemption date to the maturity date of such Notes is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from the redemption date to the maturity date of such Notes is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used.
“Voting Stock” of any Person as of any date means the equity interests of such Person that is at the time entitled to vote in the election of the Board of Directors or governing body of such Person.
3.    The 2024 Notes shall be issued by the Company in the initial aggregate principal amount of $550,000,000 and the 2027 Notes shall be issued by the Company in the initial aggregate principal amount of $550,000,000.  Additional Notes, without limitation as to amount, having the same terms as the then-Outstanding 2024 Notes or 2027 Notes, as applicable, (except for the issue price of such additional Notes, the issue date of such additional Notes and, if applicable, the initial interest payment date of such additional Notes) may also be issued by the Company pursuant to the Indenture without the consent of the Holders of the then-Outstanding 2024 Notes or 2027 Notes, as applicable.  Any additional 2024 Notes or 2027 Notes as may be issued pursuant to the Indenture from time to time shall be part of the same series as the then-Outstanding 2024 Notes or 2027 Notes, as applicable.

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4.The 2024 Notes shall mature and the principal shall be due and payable, together with all accrued and unpaid interest thereon, on the Stated Maturity Date.  The “Stated Maturity Date” for the 2024 Notes means September 15, 2024.
5.    The 2027 Notes shall mature and the principal shall be due and payable, together with all accrued and unpaid interest thereon, on the Stated Maturity Date.  The “Stated Maturity Date” for the 2027 Notes means September 15, 2024.
6.    Notes shall bear interest as provided in the form thereof set forth as Exhibit A hereto.
7.    Each installment of interest on a Note shall be payable as provided in the form thereof set forth as Exhibit A hereto.
8.    The principal of and premium, if any, and interest on the Notes, and all transactions with respect to the Notes, including registrations, transfers and exchanges of the Notes, may be effected at the office or agency of the Company in New York City, New York.  Notices and demands to or upon the Company in respect of the Notes may be served at the office or agency of the Company in New York City, New York.  The Corporate Trust Office of the Trustee will initially be the agency of the Company for such payment, registration, transfer and exchange and service of notices and demands, and the Company hereby appoints the Trustee as its agent for all such purposes; provided, however, that the Company reserves the right to change, by one or more Officer’s Certificates, any such office or agency and such agent.  The Trustee will initially be the Security Registrar and the Paying Agent for the Notes.
9.    The Notes will be redeemable at the option of the Company prior to the Stated Maturity Date as provided in the form thereof set forth in Exhibit A hereto.
10.    So long as all of the Notes are held by a securities depository in book-entry-only form, the Regular Record Date for the interest payable on any given Interest Payment Date with respect to the Notes shall be the close of business on the Business Day immediately preceding such Interest Payment Date; provided, however, that if any of the Notes are not held by a securities depository in book-entry-only form, the Regular Record Date will be the close of business on the fifteenth (15th) calendar day immediately preceding such Interest Payment Date.
11.    The Notes will be initially absolutely and unconditionally guaranteed as to payment of principal, interest and premium, if any, by NextEra Energy Partners, LP, as Parent Guarantor (the “Parent Guarantor”), pursuant to a Guarantee Agreement, dated as of September 25, 2017, between the Parent Guarantor and The Bank of New York Mellon (as Guarantee Trustee) (the “Parent Guarantee Agreement”) and by NextEra Energy US Partners Holdings, LLC, as a Subsidiary Guarantor (the “US Holdings Guarantor”) pursuant to a Guarantee Agreement, dated as of September 25, 2017, between the US Holdings Guarantor and The Bank of New York Mellon (as Guarantee Trustee) (the “US Holdings Guarantee Agreement” and, together with the Parent Guarantee Agreement, the “Guarantee Agreements”).
If (a) any Domestic Subsidiary of NEP guarantees any Obligations of NEP OpCo, NEP or NextEra US Holdings, or (b) NEP OpCo, NEP or NextEra US Holdings guarantees any Obligations of such Domestic Subsidiary, such Domestic Subsidiary will become a Guarantor of the Notes and execute a Guarantee Agreement and deliver an opinion of counsel stating that the execution of the Guarantee Agreement is permitted by the Indenture, within 30 business days of the date on which 

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such Domestic Subsidiary Guaranteed such Obligations of NEP OpCo, NEP or NextEra US Holdings or which NEP OpCo, NEP or NextEra US Holdings Guaranteed such Obligations of such Domestic Subsidiary; provided that notwithstanding the foregoing, to the extent that the Guarantee provided by NEP OpCo, or any Guarantor of such Domestic Subsidiary, as the case may be, supports operational or project related obligations (which, for the avoidance of doubt, shall not include Indebtedness for borrowed money or guarantees thereof) of such Domestic Subsidiary or any of its affiliates, including, without limitation, to support the performance obligations of such Domestic Subsidiary or any of its affiliates under project and other operational agreements or in connection with the cash management practices of such Domestic Subsidiary or any of its affiliates, then such Domestic Subsidiary shall not be required to become a Guarantor of the Notes.  
12.    With respect to the Notes, the provisions of Section 1102 of the Indenture shall apply to each Guarantor.
13.    With respect to the Notes, each of the following shall be additional Events of Default:
(a)    failure to give a Change of Control Offer with respect to the Notes when due and where such failure continues for a period of five Business Days; and
(b)    a default under any mortgage, indenture or instrument under which there may be issued, or by which there may be secured or evidenced, any Indebtedness of NEP OpCo and/or any Guarantor for money borrowed, the repayment of which NEP OpCo or any Guarantor have Guaranteed or for which NEP OpCo or any Guarantor are directly responsible or liable as obligor or guarantor, in excess of $50.0 million in the aggregate, whether such Indebtedness now exists or shall hereafter be created, which default (i) results in such Indebtedness becoming or being declared due and payable or (ii) constitutes a failure to pay the principal or interest of any such Indebtedness when due and payable, and such acceleration shall not have been rescinded or annulled or such failure to pay shall not have been cured, as the case may be, within 30 days after written notice to NEP OpCo by the Trustee or to NEP OpCo and the Trustee by the Holders of at least 33% in principal amount of the Notes then Outstanding has been received.
Notwithstanding the foregoing, NEP OpCo may elect that the sole remedy for an event of default relating to NEP’s failure to comply its reporting obligations as set forth paragraph 14, below, will, after the occurrence of such an event of default, consist exclusively of the right to receive additional interest on the Notes  at a rate equal to 0.25% per annum of the principal amount of the Notes Outstanding for each day during the 180-day period on which such event of default is continuing beginning on, and including, the date on which such an event of default first occurs. If NEP OpCo so elects, such additional interest will be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 181st day after such event of default (if the event of default relating to the reporting obligations is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in the Indenture. The right of NEP OpCo to elect such sole remedy will not affect the rights of Holders in the event of the occurrence of any other event of default. In the event NEP OpCo does not elect to pay the additional interest following an event of default in accordance with this paragraph or NEP OpCo has elected to make such payment but does not pay the additional interest when due, the Notes will be immediately subject to acceleration as provided in the Indenture.
In order to elect to pay the additional interest as the sole remedy during the first 180 days after the occurrence of an event of default relating to the failure to comply with the reporting obligations in accordance with the immediately preceding paragraph, NEP OpCo must notify in writing all Holders, the 

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Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon NEP’s failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in the Indenture.
14.     With respect to the Notes, the following reports shall be provided by NEP:
Whether or not required by the Commission’s rules and regulations, so long as any Notes are Outstanding, NEP shall furnish or cause to be furnished to the Trustee, within 15 days after the same are or would be required to be filed with the Commission (giving effect to any grace period provided by Rule 12b-25 (or any successor rule) under the Exchange Act), and excluding any such information, documents or reports, or portions thereof, subject to confidential treatment and any correspondence with the Commission:
(a)    all quarterly and annual reports that would be required to be filed with the Commission on Forms 10-Q and 10-K if NEP OpCo were required to file such reports; and
(b)    all current reports that would be required to be filed with the Commission on Form 8-K if NEP OpCo were required to file such reports.
All such reports shall be prepared in all material respects in accordance with all of the rules and regulations applicable to such reports. Each annual report on Form 10-K will include a report on NEP OpCo’s consolidated financial statements by NEP OpCo’s independent registered public accounting firm. 
Notwithstanding the foregoing, so long as NEP continues to consolidate the results of NEP OpCo in NEP’s financial statements, NEP may elect to prepare and file and furnish the quarterly, annual and current reports and consolidated financial statements referred to above in respect of NEP and such reports and consolidated financial statements will be deemed to satisfy the obligations of NEP OpCo under this Section 14.
Documents filed with the Commission via the EDGAR system (or any successor thereto) will be deemed to be filed with the Trustee as of the time such documents are filed via EDGAR (or any successor thereto), but in no event will NEP or NEP OpCo be required to file the reports specified above with the Commission if NEP or NEP OpCo, as applicable, is not otherwise subject to the periodic reporting requirements of the Exchange Act.
Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including our compliance with any of the Company’s covenants under the Indenture (as to which the Trustee is entitled to rely exclusively on officer’s certificates).
In addition, NEP OpCo and NEP agree that, for so long as any Notes remain Outstanding, if at any time they are not required to file the reports required by the preceding paragraphs with the Commission, and at such time, the Notes constitute “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, they shall furnish to the holders and Beneficial Owners of the Notes and prospective purchasers of the Notes, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

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15.    With respect to the Notes, the following covenant shall be an additional covenant under the Indenture:
NEP and NEP OpCo will not, and will not permit any Subsidiary Guarantor to, create or permit to exist any Lien upon any property or assets, including Equity Interests issued by NEP, NEP OpCo or any Subsidiary Guarantor, in order to secure any Indebtedness of NEP, NEP OpCo or such Subsidiary Guarantor without providing for the Notes to be equally and ratably secured with (or prior to) any and all such Indebtedness and any other Indebtedness similarly entitled to be equally and ratably secured, for so long as such Indebtedness is so secured; provided, however, that this restriction will not apply to, or prevent the creation or existence of:
(a)    purchase money liens or purchase money security interests upon or in any property acquired by NEP, NEP OpCo or such Subsidiary Guarantor in the ordinary course of business to secure the purchase price or construction cost of such property or to secure indebtedness incurred solely for the purpose of financing the acquisition of such property or construction of improvements on such property;
(b)    Liens existing on property acquired by NEP, NEP OpCo or such Subsidiary Guarantor at the time of its acquisition, provided that such Liens were not created in contemplation of such acquisition and do not extend to any assets other than the property so acquired;
(c)    Liens securing Funded Debt recourse for which is limited to specific assets of NEP, NEP OpCo or such Subsidiary Guarantor created for the purpose of financing the acquisition, improvement or construction of the property subject to such Liens;
(d)    the replacement, extension or renewal of any Lien permitted by clauses (i) through (iii) above upon or in the same property theretofore subject thereto or the replacement, extension or renewal (without increase in the amount or change in the direct or indirect obligor) of the Indebtedness secured thereby;
(e)    Liens upon or with respect to margin stock;
(f)    to the extent constituting Liens on Indebtedness, the rights of the parties to the Cash Sweep and Credit Support Agreement and the Management Services Agreement to borrow cash from NEP or any Subsidiary;
(g)    Liens securing Funded Debt of NEP OpCo, or such Subsidiary Guarantor (including Indebtedness pursuant to the Existing Credit Agreement and the Existing Term Loan Agreements (including any secured Hedging Obligations)) that ranks no more senior in right of payment (irrespective of such Liens) than pari passu with the Notes; provided that, as of the date of incurrence of any such Funded Debt, and after giving effect thereto, the aggregate principal amount of all Funded Debt of NEP OpCo or such Subsidiary Guarantor then outstanding that is secured by Liens granted by NEP OpCo or such Subsidiary Guarantor, or any of them, shall not exceed the greater of (i) $1.0 billion and (ii) the amount that would cause the OpCo Leverage Ratio to exceed 4.0:1.0; and
(h)    any other Liens (other than Liens described in clauses (a) through (g) above, if the aggregate principal amount of the Indebtedness secured by all such Liens and security interests (without duplication) does not exceed in the aggregate $10,000,000 at any one time outstanding;
provided that (x) the aggregate principal amount of the Indebtedness secured by the Liens described in clauses (a) through (c) above, inclusive, shall not exceed the greater of the aggregate fair value, the aggregate purchase price or the aggregate construction cost, as the case may be, of all properties subject to such Liens and (y) in no event shall NEP OpCo or any of its Subsidiaries create or permit to exist any Lien on the Equity Interests of NextEra Canadian Holdings.

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For the purposes hereof, “OpCo Secured Leverage Ratio” means, as of any date of determination, the ratio of (a) Funded Debt that is secured by Liens granted by NEP OpCo and the Subsidiary Guarantors, or any of them, to (b) NEP OpCo Adjusted Covenant Cash Flow.  Notwithstanding anything herein to the contrary, when calculating the OpCo Secured Leverage Ratio, the Swap Termination Value of all Swap Contracts of NEP OpCo and the Subsidiary Guarantors then outstanding shall be excluded from the calculation of clause (a) of this paragraph.
16.    (a) The provisions of Sections 2.01, 2.04 and 2.05 of each Guarantor’s Guarantee Agreement shall not apply to the Notes.
(b) The provisions of Sections 108, 1002, 1205 of the Indenture shall not apply to the Notes.
17.    The Notes will be initially issued in global form registered in the name of Cede & Co. (as nominee for The Depository Trust Company).  The Notes in global form shall bear the depository legend in substantially the form thereof set forth in Exhibit A hereto.  The Notes in global form will contain restrictions on transfer, substantially as described in the form thereof set forth in Exhibit A hereto.
18.    No service charge shall be made for the registration of transfer or exchange of the Notes; provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with such exchange or transfer.
19.    The Notes shall have such other terms and provisions as are provided in the form thereof set forth in Exhibit A hereto.
20.    The undersigned has read all of the covenants and conditions contained in the Indenture relating to the issuance of the Notes and the definitions in the Indenture relating thereto and in respect of which this certificate is made.
21.    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.
22.    In the opinion of the undersigned, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenants and conditions have been complied with.
23.    In the opinion of the undersigned, such conditions and covenants and conditions precedent, if any (including any covenants compliance with which constitutes a condition precedent), to the authentication and delivery of the Notes requested in the accompanying Company Order No. 1 have been complied with.
[Signature Page Follows]

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IN WITNESS WHEREOF, the Company has caused this Instrument to be duly executed in New York, New York.
	
			
	 
	NEXTERA ENERGY OPERATING PARTNERS, LP

	 
	By:  NextEra Energy Operating Partners GP, LLC,
 its General Partner

	 
	 
	 

	 
	 
	 

	 
	By: PAUL I. CUTLER                                                  

	 
	Name: Paul I. Cutler

	 
	Title: Treasurer

[Signature Page to Officer's Certificate Creating Notes (Senior Notes)]

Exhibit A

FORM OF NOTES

NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”)) OF NEXTERA ENERGY OPERATING PARTNERS, LP (THE “COMPANY”) OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY DURING THE IMMEDIATELY PRECEDING THREE MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR HOLD THIS NOTE OR A BENEFICIAL INTEREST HEREIN.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY 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 DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), 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.

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS NOTE, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED THIS NOTE, TO OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE ONLY (A) TO THE COMPANY, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO THE COMPANY.

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[THIS NOTE IS A TEMPORARY GLOBAL NOTE. PRIOR TO THE EXPIRATION OF THE RESTRICTED PERIOD APPLICABLE HERETO, BENEFICIAL INTERESTS HEREIN MAY NOT BE HELD BY ANY PERSON OTHER THAN (1) A NON-U.S. PERSON OR (2) A U.S. PERSON THAT PURCHASED SUCH INTEREST IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT. BENEFICIAL INTERESTS HEREIN ARE NOT EXCHANGEABLE FOR PHYSICAL NOTES OTHER THAN A PERMANENT GLOBAL NOTE IN ACCORDANCE WITH THE TERMS OF THE INDENTURE. TERMS IN THIS LEGEND ARE USED AS USED IN REGULATION S UNDER THE SECURITIES ACT. UPON EXPIRATION OF THE RESTRICTED PERIOD APPLICABLE HERETO, THIS  TEMPORARY GLOBAL NOTE SHALL BE DEEMED TO BECOME A PERMANENT GLOBAL NOTE AND, AS SUCH, THIS LEGEND SHALL BE OF NO FURTHER FORCE OR EFFECT AFTER SUCH TIME.]

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[FORM OF FACE OF NOTE]
NEXTERA ENERGY OPERATING PARTNERS, LP
[4.25][4.50]% SENIOR NOTES DUE 20[24][27]
	
		
	No. _______________
	CUSIP No.: [   ]12

	 
	ISIN No.: [   ]34 

	[Initially $[   ]]
	Common Code: [   ]56

NEXTERA ENERGY OPERATING PARTNERS, LP, a limited partnership duly organized and existing under the laws of the State of Delaware (herein referred to as the “Company”, which term includes any successor Person under the Indenture (as defined below)), for value received, hereby promises to pay to [Cede & Co.] [      ], or registered assigns, the principal sum [of ____________________ Dollars][as set forth in the “Schedule of Exchanges of Notes” (attached hereto as Schedule A)] on September 15, 20[24][27] (the “Stated Maturity Date”), and interest thereon as set forth below.  

The Company further promises to pay interest on the principal sum of this [4.25][4.50]% Senior Note due 20[24][27] (this “Note”) to the registered Holder hereof at the rate of [4.25][4.50]% per annum, in like coin or currency, semi-annually in arrears on March 15 and September 15 of each year (each an “Interest Payment Date”) until the principal hereof is paid or duly provided for or until earlier redemption or repurchase, such interest payments to commence on March 15, 2018.  Each interest payment shall include interest accrued from the most-recently preceding Interest Payment Date to which interest has either been paid or duly provided for (except that (i) the interest payment which is due on March 15, 2018 shall include interest that has accrued from September 25, 2017, and (ii) if this Note is authenticated during the period that (A) follows any particular Regular Record Date (as defined below) but (B) precedes the next occurring Interest Payment Date, then the registered Holder hereof shall not be entitled to receive any interest payment with respect to this Note on such next occurring Interest Payment Date).  No interest will accrue on the Note with respect to the day on which the Note matures.  In the event that any Interest Payment Date is not a Business Day, then payment of interest, principal or premium payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of such delay) with the same force and effect as if made on the Interest Payment Date.  The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture referred to on the reverse of this Note (the “Indenture”), be payable to the Person in whose name this Note (or one or more Predecessor Note) is registered at the close of business on the “Regular Record Date” for such interest installment which shall be the close of business on the Business Day immediately preceding such Interest Payment Date so long as all of the Notes are held by a securities depository in book-entry-only form; provided that if any of the Notes are not held by a securities depository in book-entry-only form, the Regular Record Date will be the close of business on the fifteenth (15th) calendar day immediately preceding such Interest Payment Date; and provided further that interest payable on the Stated Maturity Date or any Redemption Date will be paid to the same Person to whom the associated principal is to be paid.  Any such interest not 
	
	
	 

1For 2024 Notes (144A / Reg. S): 65342QAC6 / U6500TAC9
2For 2027 Notes (144A / Reg. S): 65342QAB8 / U6500TAB1
3For 2024 Notes (144A / Reg. S): US65342QAC69 / USU6500TAC90
4For 2027 Notes (144A / Reg. S): US65342QAB86 / USU6500TAB18
5For 2024 Notes (144A / Reg. S): 169026068 / 169026076
6For 2027 Notes (144A / Reg. S): 168970048 / 168970064

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punctually paid or duly provided for will forthwith cease to be payable to the Person who is the Holder of this Note on such Regular Record Date and may be paid to the Person in whose name this Note (or one or more Predecessor Note) is registered at the close of business on a Special Record Date to be fixed by the Trustee for the payment of such Defaulted Interest, notice of which shall be given to Holders not less than ten (10) days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.

Payment of the principal of (and premium, if any) and interest on the Notes will be made, 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, at the office or agency of the Company designated by the Company for that purpose.  Initially, the main Corporate Trust Office of The Bank of New York Mellon, as Paying Agent, in New York City, the State of New York will serve as such office.  However, at the option of the Company, interest on this Note may be paid by check mailed to the address of the Person entitled thereto, as such address shall appear on the Register or by a wire transfer to an account designated by the Person entitled thereto.
The Company shall pay, or cause the Paying Agent to pay, the principal of and interest on this Note, so long as such Note is a Global Note, in immediately available funds to the Depositary or its nominee, as the case may be, in its capacity as the registered Holder of such Note.
The amount of interest payable on this Note will be computed on the basis of a 360 day year consisting of twelve 30 day months (and for any period shorter than a full semi-annual period, on the basis of the actual number of days elapsed during such period using 30-day calendar months).
Reference is hereby made to the further provisions of this Note set forth on the reverse of this Note, which further provisions shall for all purposes have the same effect as if set forth at this place. (All capitalized terms used in this Note which are not defined herein, including the reverse of this Note, but which are defined in the Indenture or in the Officer’s Certificate shall have the meanings specified in the Indenture or in the Officer’s Certificate.) 
This Note shall be governed by and construed in accordance with the laws of the State of New York.
Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse of this Note by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.
[Signature Page Follows]

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IN WITNESS WHEREOF, the Company has caused this Note to be duly executed. 
	
			
	 
	NEXTERA ENERGY OPERATING PARTNERS, LP

	 
	By:  NextEra Energy Operating Partners GP, LLC, 
its General Partner

	 
	 
	 

	 
	By:  _______________________________________

Dated:

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	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	 

	 
	 
	 

	THE BANK OF NEW YORK MELLON,
	 

	as Trustee, certifies that this is one of the Notes
	 

	described in the within-named Indenture.
	 

	 
	 
	 

	By:
	 
	 

	 
	Authorized Signatory
	 

	 
	 
	 

	Dated:
	 

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[FORM OF REVERSE OF NOTE]
This Note is one of a duly authorized issue of Notes of the Company, designated as its [4.25][4.50]% Senior Notes due 20[24][27] (the “Notes”), issued pursuant to an Indenture, dated as of September 25, 2017 (herein, together with any amendments thereto, called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture, including the Board Resolutions and Officer’s Certificate filed with the Trustee on September 25, 2017 creating the Notes (herein called the “Officer’s Certificate”), for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders and of the terms upon which the Notes are, and are to be, authenticated and delivered.  This Note is one of the series designated on the face hereof.
If an Event of Default with respect to the Notes shall occur and be continuing, the principal of and interest on the 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, the rights and obligations of the Guarantors and the rights of the Holders at any time by the Company, the Guarantors and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time Outstanding.  The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, 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 Holders of the specified percentages in principal amount of the Notes shall be bind all current and future Holders of this Note and of any Note 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 Note.
As provided in and subject to the provisions of the Indenture, the Holder of this 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 Notes, the Holders of a majority in aggregate principal amount of the 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 reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in aggregate principal amount of Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for sixty (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 Note for the enforcement of any payment of principal hereof or any premium or interest hereon (including the Change of Control Repurchase Price, if applicable) on or after the respective due dates expressed herein.
No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay or deliver, as the case may be, the principal (including the Change of Control Repurchase Price, if applicable) of, accrued and unpaid interest on, this Note at the place, at the respective times, at the rate and in the lawful money herein prescribed.
The Notes are issuable in registered form without coupons in minimum denominations of $ 2,000 principal amount and integral multiples of $1,000 in excess thereof.  As provided in the Indenture and subject 

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to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes and of like tenor and of authorized denominations, 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, and a Holder may be required, among other things, to furnish appropriate endorsements and transfer documents.
The Notes shall be redeemable at the option of the Company in whole at any time, or in part from time to time (each a “Redemption Date”), upon notice (the “Redemption Notice”) sent at least thirty (30) days but not more than sixty (60) days prior to the Redemption Date, at the applicable price (each a “Redemption Price”) described below. Redemption Notices may not be contingent upon the occurrence of any event or upon the deposit with the Trustee of moneys sufficient to pay the Redemption Price.
At any time prior to [July 15, 2024][June 15, 2027], the Company may on any one or more occasions redeem all or a part of the Notes, upon not less than 30 nor more than 60 days’ prior notice, at a Redemption Price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to, the Redemption Date, subject to the rights of Holders on the relevant Record Date to receive interest due on the relevant Interest Payment Date.  On or after [July 15, 2024][June 15, 2027], the Company may redeem all or a part of the Notes at a Redemption Price equal to 100% of the principal amount of Notes redeemed plus accrued and unpaid interest, if any, to the Redemption Date, subject to the rights of Holders on the relevant Record Date to receive interest due on the relevant Interest Payment Date.
Upon payment of the applicable Redemption Price as described herein, on and after the applicable Redemption Date interest will cease to accrue on the Notes or portions thereof called for redemption.
Except pursuant to the preceding paragraphs, the Notes will not be redeemable at the Company’s option prior to their respective maturity dates.
The Company and its affiliates are not prohibited, however, from acquiring the Notes in market or private transactions by means other than a redemption, whether pursuant to a tender offer or otherwise, assuming such action does not otherwise violate the Indenture.
If a Change of Control Triggering Event occurs, the Company shall make an offer to purchase (each such offer, a “Change of Control Offer”) all or any part (equal to $1,000 or an integral multiple of $1,000 in excess thereof) of the Outstanding Notes at purchase price (the “Change of Control Repurchase Price”) in cash equal to 101% of the aggregate principal amount of the Notes, plus accrued and unpaid interest, if any, on the Notes to the date of purchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date. Within 30 days following any Change of Control Triggering Event, the Company will send a notice to each holder of Notes describing the transaction or transactions that constitute the Change of Control and offering to repurchase Notes on the date specified in the notice (the “Change of Control Payment Date”), which date will be no earlier than 30 days and no later than 60 days from the date such notice is sent, pursuant to the procedures required by the Indenture and described in such notice. The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent that those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control provisions of the Indenture or this Note, the Company will comply with the applicable securities laws and regulations and 

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will not be deemed to have breached its obligations under the Change of Control provisions of the Indenture or this Note by virtue of such compliance.
On the Change of Control Payment Date, the Company will, to the extent lawful:
(1)    accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer;
(2)    deposit with the Paying Agent an amount equal to the Change of Control Repurchase Price in respect of all Notes or portions of Notes properly tendered; and
(3)    deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of the Notes or portions of the Notes being purchased by the Company.
The Paying Agent will promptly send to each holder of Notes properly tendered the Change of Control Repurchase Price for the Notes, and the Trustee will promptly authenticate and send (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date.
The provisions described above that require the Company to make a Change of Control Offer following a Change of Control Triggering Event will be applicable whether or not any other provisions of the Indenture are applicable.
The Company will not be required to make a Change of Control Offer upon a Change of Control Triggering Event if:  (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in the Indenture applicable to a Change of Control Offer made by the Company and purchases all Notes properly tendered and not withdrawn under the Change of Control Offer; or (2) notice of redemption has been given pursuant to the Indenture unless and until there is a default in payment of the applicable redemption price. A Change of Control Offer may be made in advance of a Change of Control Triggering Event, with the obligation to pay and the timing of payment conditioned upon the occurrence of a Change of Control Triggering Event, if a definitive agreement to effect a Change of Control is in place at the time the Change of Control Offer is made.
The Notes will be absolutely and unconditionally guaranteed as to payment of principal, interest and premium, if any, by NextEra Energy Partners, LP, as Parent Guarantor (the “Parent Guarantor”), pursuant to a Guarantee Agreement, dated as of September 25, 2017, between the Parent Guarantor and The Bank of New York Mellon (as Guarantee Trustee) (the “Parent Guarantee Agreement”) and by NextEra Energy US Partners Holdings, LLC, as Subsidiary Guarantor (the “Subsidiary Guarantor”), pursuant to a Guarantee Agreement, dated as of September 25, 2017, between the Subsidiary Guarantor and The Bank of New York Mellon (as Guarantee Trustee) (the “Subsidiary Guarantee Agreement”).  
The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Note upon compliance with certain conditions set forth in the Indenture, including the Officer’s Certificate described above.

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If an Event of Default with respect to the Notes shall occur and be continuing, the principal of and interest on the Notes may be declared due and payable in the manner and with the effect provided in the Indenture.
The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the absolute owner hereof for all purposes, whether or not this Note be overdue, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary.

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ABBREVIATIONS
The following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were written out in full according to applicable laws or regulations:
TEN COM = as tenants in common
UNIF GIFT MIN ACT = Uniform Gifts to Minors Act
CUST = Custodian
TEN ENT = as tenants by the entireties
JT TEN = joint tenants with right of survivorship and not as tenants in common
Additional abbreviations may also be used though not in the above list.

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SCHEDULE A5 
 
SCHEDULE OF EXCHANGES OF NOTES
NEXTERA ENERGY OPERATING PARTNERS, LP
[4.25][4.50]% SENIOR NOTES DUE 20[24][27]
 
The initial principal amount of this Global Note is [   ] DOLLARS ($[   ])].  
The following increases or decreases in this Global Note have been made:

	
										
	Date of Exchange
	 
	Amount of  
decrease in  
principal amount  
of this Global Note
	 
	Amount of increase 
in principal 
amount of this 
Global Note
	 
	Principal amount  
of this Global Note  
following such  
increase or decrease
	 
	Signature of  
authorized  
signatory of  
Trustee or  
Custodian
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

 

	
	
	 

		
	5 
	Include if a global note.

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ATTACHMENT 1
 
[FORM OF CHANGE OF CONTROL REPURCHASE NOTICE]
To: NextEra Energy Operating Partners, LP
The undersigned registered owner of this Note hereby acknowledges receipt of a notice from NextEra Energy Operating Partners, LP (the “Company”) as to the occurrence of a Change of Control Triggering Event and specifying the Change of Change Purchase Date and requests and instructs the Company to pay to the registered holder hereof in accordance with the terms of the Indenture referred to in this Note and the terms of this Note (1) the entire principal amount of this Note, or the portion thereof (that is $1,000 principal amount or an integral multiple of $1,000 in excess thereof) below designated, and (2) if such Change of Control Payment Date does not fall during the period after a Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but excluding, such Change of Control Payment Date.
In the case of Certificated Notes, the certificate numbers of the Notes to be repurchased are as set forth below:
 
	
				
	Dated:
	 
	 
	 

	 
	 
	 
	Signature(s)

	 
	 
	 
	 

	 
	 
	Social Security or Other Taxpayer Identification Number

	 
	 
	 

	 
	 
	Principal amount to be repaid (if less than all):  $                        ,000

	 
	 
	 

	 
	 
	NOTICE:  The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

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ATTACHMENT 2
 
[FORM OF TRANSFER CERTIFICATE]
NEXTERA ENERGY OPERATING PARTNERS, LP
[4.25][4.50]% SENIOR NOTES DUE 20[24][27]
Transfer Certificate
For value received _________________________ hereby sell(s), assign(s) and transfer(s) unto _________________________ (Please insert social security or Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably constitutes and appoints _________________________ attorney to transfer the said Note on the books of the Company, with full power of substitution in the premises.
In connection with any transfer of the within Note, the undersigned confirms that such Note is being transferred:
o  To NextEra Energy Operating Partners, LP; or

o  Pursuant to, and in accordance with, a registration statement that is effective under the Securities Act of 1933, as amended, at the time of such transfer; or

o  To a person that the undersigned reasonably believes to be a qualified institutional buyer in compliance with Rule 144A under the Securities Act of 1933, as amended; or

o  Pursuant to offers and sales to non-U.S. Persons that occur outside the United States within the meaning of Regulations S under the Securities Act; or 

o  Pursuant to another available exemption from the registration requirements of the Securities Act of 1933, as amended.

NOTICE:  Additional information may be required as provided in the Indenture and the Note.

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	Dated:
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 

	 
	 
	 
	 

	Signature Guarantee
	 
	 

	 
	 
	 

	Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and credit unions) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15 if Notes are to be delivered other than to and in the name of the registered holder.
	 
	 

 
NOTICE: The signature on the assignment must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

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