SEC Contract Filing

Filing Date: 2021-11-19

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>7
<FILENAME>tm2126671d13_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.2</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>STORM
RECOVERY PROPERTY PURCHASE AND SALE AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>by
and between</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>DUKE
ENERGY PROGRESS NC STORM FUNDING LLC,</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Issuer</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>and</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Duke
Energy Progress, LLC,</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Seller</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Acknowledged
and Accepted by</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>THE
BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dated as of November 24, 2021</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>TABLE OF CONTENTS</U></P>

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 <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><U>Page</U></TD></TR>

<TR STYLE="vertical-align: bottom">
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 94%; text-align: left">ARTICLE&nbsp;I DEFINITIONS AND RULES OF CONSTRUCTION</TD>
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right">1</TD></TR>
 <TR STYLE="vertical-align: bottom">
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">SECTION&nbsp;1.01. Definitions and Rules&nbsp;of Construction</TD>
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1</TD></TR>
 <TR STYLE="vertical-align: bottom">
 <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
 <TD STYLE="text-align: left">&nbsp;</TD></TR>
 <TR STYLE="vertical-align: bottom">
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">ARTICLE&nbsp;II CONVEYANCE OF STORM RECOVERY PROPERTY</TD>
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2</TD></TR>
 <TR STYLE="vertical-align: bottom">
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">SECTION&nbsp;2.01. Conveyance of Storm Recovery Property</TD>
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2</TD></TR>
 <TR STYLE="vertical-align: bottom">
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">SECTION&nbsp;2.02. Conditions to Conveyance of Storm Recovery Property</TD>
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2</TD></TR>
 <TR STYLE="vertical-align: