SEC Contract Filing

Filing Date: 2017-05-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.E4
<SEQUENCE>11
<FILENAME>x10e4-q12017.htm
<DESCRIPTION>EXHIBIT 10.E4
<TEXT>
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<div><a name="sdab3b1611d064fbf934edf0819f0123c"></a></div><div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Exhibit 10(e)4</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">MISSISSIPPI POWER COMPANY</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECOND AMENDED AND RESTATED PROMISSORY NOTE</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:0px;text-indent:0px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:682px;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:341px;"></td><td style="width:341px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">February 28, 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Up to $301,126,146.39</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">FOR VALUE RECEIVED, MISSISSIPPI POWER COMPANY, a Mississippi corporation (the &#8220;Borrower&#8221;), hereby promises to pay on or before July 31, 2018 (the &#8220;Final Maturity Date&#8221;), to THE SOUTHERN COMPANY, a Delaware corporation (the &#8220;Holder&#8221;), the principal sum of THREE HUNDRED ONE MILLION ONE HUNDRED TWENTY-SIX THOUSAND ONE HUNDRED FORTY-SIX DOLLARS AND THIRTY-NINE CENTS ($301,126,146.39), together with interest on the principal amount from June 4, 2015, all as indicated in the records of the Holder.</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Second Amended and Restated Promissory Note (this &#8220;Note&#8221;) amends and restates in its entirety that certain amended and restated promissory note, dated December 22, 2015, issued by the Borrower to the Holder.</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Interest.</font><font style="font-family:inherit;font-size:12pt;">&#32;Interest (calculated on the basis of a year of 360 days and the actual number of days elapsed) on this Note shall be paid monthly in arrears, or if the Borrower fails to pay interest each month, such interest shall be included in the outstanding principal balance for purposes of calculating interest due to the extent permitted by applicable law. The interest rate on this Note shall be a floating rate equal to the Adjusted LIBOR Rate.</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Adjusted LIBOR Rate.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Interest shall be at a rate equal to the one-month London Interbank Offered Rate (&#8220;LIBOR&#8221;) plus the Applicable Percentage corresponding to the senior debt rating of the Borrower in effect from time to time as described below (the &#8220;Senior Debt Rating&#8221;):</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:520px;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:372px;"></td><td style="width:148px;"></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-right:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Senior Debt Rating</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Applicable Percentage</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-right:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">I. A- from S&amp;P</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font s