SEC Contract Filing

Filing Date: 2022-05-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>sppc33122ex101.htm
<DESCRIPTION>SPPC DEMAND PROMISSORY NOTE, DATED APRIL 14, 2022
<TEXT>
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<title>Document</title></head><body><div id="i725fef700ab2452ab44392dff9a7ebe9_1"></div><div style="min-height:64.8pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">EXHIBIT 10.1</font></div></div><div style="margin-top:3.95pt;padding-left:59.02pt;padding-right:59.02pt;text-align:center"><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">DEMAND PROMISSORY NOTE</font></div><div style="margin-top:0.45pt"><font><br></font></div><div style="padding-right:7.85pt;text-align:right"><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">U.S. $200,000,000&#160;&#160;&#160;&#160;Las Vegas, Nevada</font></div><div style="margin-top:0.5pt;padding-right:5.75pt;text-align:right"><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">April 14, 2022</font></div><div style="margin-top:0.35pt"><font><br></font></div><div style="padding-left:13.1pt;padding-right:5.7pt;text-align:justify;text-indent:37.05pt"><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">FOR VALUE RECEIVED, the undersigned, Sierra Pacific Power Company, a Nevada corporation, its successors and assigns (the &#8220;</font><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Maker</font><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8221;), hereby promises to pay to the order of NV ENERGY INC., a Nevada corporation (the &#8220;</font><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Holder</font><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8221;), the principal amount of TWO HUNDRED MILLION AND NO&#47;100 U.S. Dollars (U.S.</font></div><div style="padding-left:13.1pt;padding-right:5.85pt;text-align:justify"><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">$200,000,000), together with compounded interest on the principal sum of this Note (the &#8220;Note&#8221;) at the &#8220;Note Rate&#8221; defined below, in lawful money of the United States of America. Both principal and interest and all other sums due hereunder shall be payable at the office of Holder at 6226 West Sahara Avenue, Las Vegas, Nevada 89146, or such other place as Holder may designate from time to time.</font></div><div style="margin-top:0.1pt"><font><br></font></div><div style="padding-left:12.6pt;padding-right:6.8pt;text-align:justify;text-indent:36.35pt"><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">The principal sum of this Note and all accrued and unpaid interest thereon, if not sooner paid, shall be due and payable upon demand made by Holder in a notice sent as set forth below, on the date (the &#8220;</font><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Maturity Date</font><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8221;) and at the place set forth in such notice.</font></div><div style="margin-top:0.45pt"><font><br></font></div><div style="padding-left:10.8pt;padding-right:7.15pt;text-align:justify;text-indent:38.05pt"><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Accrued and unpaid interest shall be due and payable in arrears on the business day next following the last business day of each month. If unpaid, interest shall automatically be added to the principal on the day when due, and such interest shall bear interest hereunder until paid. The nonpayment of interest shall not be a default under this Note, unless such interest is due on the Maturity Date. Maker may at its option (but without any obligation to do so) prepay principal or interest on this Note prior to the Maturity Date. Interest due hereunder shall be calculated on the basis of a 360-day year and applied to the actual outstanding daily principal balance and the actual number of days elapsed. As used herein, for any month, the &#8220;</font><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Note Rate</font><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8221; for such month shall mean a rate per annum equal to the sum of (1) 0.75% plus (2) the rate per annum of interest (rounded upward, if not an integral multiple of 1&#47;100 of 1%, to the nearest 1&#47;100 of 1% per annum) at which 30-day United States dollar deposits, in an amount comparable to the amount of the Note, are offered in the London Interbank Offer Rate market at 11&#58;00 a.m. (London time) on the first business day of such month, as displayed in the Bloomberg Financial Markets system (&#8220;</font><font style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Bloomberg</font><font style="color:#222222;font-family:'Times New R