Common use of Form of Bonds Clause in Contracts

Form of Bonds. The 2029 Bonds shall be issued initially in the form of one or more permanent global bonds in definitive, fully registered form without interest coupons with the global securities legend appearing in the form of 2029 Bond hereinbefore set forth endorsed thereon (a “Global Bond”), which shall be deposited on behalf of the purchasers of the Bonds represented thereby with the Trustee, at its corporate trust office, as securities custodian (or with such other securities custodian as the Depository (as defined below) may direct), and registered in the name of the Depository or a nominee of the Depository, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The aggregate principal amount of the Global Bonds may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depository or its nominee as hereinafter provided. The depository for the Global Bonds shall be The Depository Trust Company, a New York corporation, or its duly appointed successor (the “Depository”). This Section 2.01 shall apply only to a Global Bond deposited with or on behalf of the Depository. The Company shall execute and the Trustee shall, in the case of each of the 2029 Bonds in accordance with this Section 2.01, authenticate and deliver initially one or more Global Bonds for the 2029 Bonds, which (a) shall be registered in the name of the Depository or the nominee of the Depository and (b) shall be delivered by the Trustee to the Depository or pursuant to the Depository’s instructions or held by the Trustee as securities custodian. Members of, or participants in, the Depository (“Agent Members”) shall have no rights under this Supplemental Indenture with respect to any Global Bond held on their behalf by the Depository or by the Trustee as the securities custodian or under such Global Bond, and the Company, the Trustee and any agent of the Company or the Trustee shall be entitled to treat the Depository as the absolute owner of such Global Bond for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices of such Depository governing the exercise of the rights of a holder of a beneficial interest in any Global Bond. Except as provided in this Section 2.01, Section 2.02 or Section 2.03, owners of beneficial interests in Global Bonds shall not be entitled to receive physical delivery of certificated Bonds.

Form of Bonds. The 2029 Bonds shall be issued initially authenticated and delivered hereunder solely as fully registered bonds without coupons in the form denomination of one $5,000 or more permanent global bonds in definitive, fully registered form without interest coupons with the global securities legend appearing in the form of 2029 Bond hereinbefore set forth endorsed thereon (a “Global Bond”), which integral multiples thereof. Bonds shall be deposited numbered as determined by the Trustee. Bonds authenticated prior to the first interest payment date shall be dated September 15, 1997. Bonds authenticated on behalf or subsequent to the first interest payment date shall be dated the interest payment date next preceding the date of the purchasers authentication thereof, unless such date of authentication shall be an interest payment date to which interest on the Bonds represented thereby with has been paid in full or duly provided for, in which case they shall be dated such date of authentication; provided, however, that if, as shown by the records of the Trustee, interest on the Bonds shall be in default, Bonds issued in exchange for Bonds surrendered for transfer or exchange shall be dated the date to which interest has been paid in full on the Bonds surrendered. Principal of and premium, if any, on Bonds shall be payable to the Owners of such Bonds upon presentation and surrender of such Bonds at its corporate trust officethe Principal Office of the Paying Agent or any Co-Paying Agent. Interest on the Bonds shall be paid by check drawn upon the Paying Agent and mailed to the Owners of such Bonds as of the close of business on the Record Date with respect to each interest payment date at the registered addresses of such Owners as they shall appear as of the close of business on such Record Date on the registration books maintained pursuant to Section 2.08 hereof notwithstanding the cancellation of any such Bond upon any exchange or registration of transfer subsequent to such Record Date, as securities custodian except that if and to the extent that there should be a default on the payment of interest on any Bond, such defaulted interest shall be paid to the Owners in whose name such Bond (or with such other securities custodian any Bond or Bonds issued upon any exchange or registration of transfer thereof) is registered as the Depository (as defined below) may direct), and registered in the name of the Depository or close of business on a nominee of the Depository, duly executed by the Company and authenticated date selected by the Trustee as hereinafter provided. The in its discretion, but not more than 15 days or less than 10 days prior to the date of payment of such defaulted interest; notwithstanding the foregoing, upon request to the Paying Agent by an Owner of not less than $1,000,000 in aggregate principal amount of Bonds, interest on such Bonds and, after presentation and surrender of such Bonds, the Global principal thereof shall be paid to such Owner by wire transfer to the account maintained within the continental United States specified by such Owner or, if such Owner maintains an account with the entity acting as Paying Agent, by deposit into such account. Payment as aforesaid shall be made in such coin or currency of the United States of America as, at the respective times of payment, shall be legal tender for the payment of public and private debts. The Bonds may from time and the form for registration of transfer and the form of certificate of authentication to time be increased or decreased by adjustments made printed on the records of Bonds are to be in substantially the Trustee forms thereof set forth in Exhibits A, B and the Depository C hereto, respectively, with necessary or its nominee appropriate variations, omissions and insertions as hereinafter provided. The depository for the Global Bonds shall be The Depository Trust Company, a New York corporation, permitted or its duly appointed successor (the “Depository”). This Section 2.01 shall apply only to a Global Bond deposited with or on behalf of the Depository. The Company shall execute and the Trustee shall, in the case of each of the 2029 Bonds in accordance with required by this Section 2.01, authenticate and deliver initially one or more Global Bonds for the 2029 Bonds, which (a) shall be registered in the name of the Depository or the nominee of the Depository and (b) shall be delivered by the Trustee to the Depository or pursuant to the Depository’s instructions or held by the Trustee as securities custodian. Members of, or participants in, the Depository (“Agent Members”) shall have no rights under this Supplemental Indenture with respect to any Global Bond held on their behalf by the Depository or by the Trustee as the securities custodian or under such Global Bond, and the Company, the Trustee and any agent of the Company or the Trustee shall be entitled to treat the Depository as the absolute owner of such Global Bond for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices of such Depository governing the exercise of the rights of a holder of a beneficial interest in any Global Bond. Except as provided in this Section 2.01, Section 2.02 or Section 2.03, owners of beneficial interests in Global Bonds shall not be entitled to receive physical delivery of certificated BondsIndenture.

Form of Bonds. The 2029 Bonds shall be issued initially authenticated and delivered hereunder solely as fully registered bonds without coupons in the form denomination of one $5,000 or more permanent global bonds in definitive, fully registered form without interest coupons with the global securities legend appearing in the form of 2029 Bond hereinbefore set forth endorsed thereon (a “Global Bond”), which integral multiples thereof. Bonds shall be deposited numbered as determined by the Trustee. Bonds authenticated prior to the first interest payment date shall be dated April 1, 1997. Bonds authenticated on behalf or subsequent to the first interest payment date shall be dated the interest payment date next preceding the date of the purchasers authentication thereof, unless such date of authentication shall be an interest payment date to which interest on the Bonds represented thereby with has been paid in full or duly provided for, in which case they shall be dated such date of authentication; provided, however, that if, as shown by the records of the Trustee, interest on the Bonds shall be in default, Bonds issued in exchange for Bonds surrendered for transfer or exchange shall be dated the date to which interest has been paid in full on the Bonds surrendered. Principal of and premium, if any, on Bonds shall be payable to the Owners of such Bonds upon presentation and surrender of such Bonds at its corporate trust officethe Principal Office of the Paying Agent or any Co-Paying Agent. Interest on the Bonds shall be paid by check drawn upon the Paying Agent and mailed to the Owners of such Bonds as of the close of business on the Record Date with respect to each interest payment date at the registered addresses of such Owners as they shall appear as of the close of business on such Record Date on the registration books maintained pursuant to Section 2.08 hereof notwithstanding the cancellation of any such Bond upon any exchange or registration of transfer subsequent to such Record Date, as securities custodian except that if and to the extent that there should be a default on the payment of interest on any Bond, such defaulted interest shall be paid to the Owners in whose name such Bond (or with such other securities custodian any Bond or Bonds issued upon any exchange or registration of transfer thereof) is registered as the Depository (as defined below) may direct), and registered in the name of the Depository or close of business on a nominee of the Depository, duly executed by the Company and authenticated date selected by the Trustee as hereinafter provided. The in its discretion, but not more than 15 days or less than 10 days prior to the date of payment of such defaulted interest; notwithstanding the foregoing, upon request to the Paying Agent by an Owner of not less than $1,000,000 in aggregate principal amount of Bonds, interest on such Bonds and, after presentation and surrender of such Bonds, the Global principal thereof shall be paid to such Owner by wire transfer to the account maintained within the continental United States specified by such Owner or, if such Owner maintains an account with the entity acting as Paying Agent, by deposit into such account. Payment as aforesaid shall be made in such coin or currency of the United States of America as, at the respective times of payment, shall be legal tender for the payment of public and private debts. The Bonds may from time and the form for registration of transfer and the form of certificate of authentication to time be increased or decreased by adjustments made printed on the records of Bonds are to be in substantially the Trustee forms thereof set forth in Exhibits A, B and the Depository C hereto, respectively, with necessary or its nominee appropriate variations, omissions and insertions as hereinafter provided. The depository for the Global Bonds shall be The Depository Trust Company, a New York corporation, permitted or its duly appointed successor (the “Depository”). This Section 2.01 shall apply only to a Global Bond deposited with or on behalf of the Depository. The Company shall execute and the Trustee shall, in the case of each of the 2029 Bonds in accordance with required by this Section 2.01, authenticate and deliver initially one or more Global Bonds for the 2029 Bonds, which (a) shall be registered in the name of the Depository or the nominee of the Depository and (b) shall be delivered by the Trustee to the Depository or pursuant to the Depository’s instructions or held by the Trustee as securities custodian. Members of, or participants in, the Depository (“Agent Members”) shall have no rights under this Supplemental Indenture with respect to any Global Bond held on their behalf by the Depository or by the Trustee as the securities custodian or under such Global Bond, and the Company, the Trustee and any agent of the Company or the Trustee shall be entitled to treat the Depository as the absolute owner of such Global Bond for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices of such Depository governing the exercise of the rights of a holder of a beneficial interest in any Global Bond. Except as provided in this Section 2.01, Section 2.02 or Section 2.03, owners of beneficial interests in Global Bonds shall not be entitled to receive physical delivery of certificated BondsIndenture.

Form of Bonds. The 2029 Series A Bonds and the Trustee’s Certificate to be inscribed on all Bonds of said series, are to be substantially in the forms following, respectively: $ No. …… Pike County Light & Power Company, a Pennsylvania corporation (herein called the “Company”), for value received, hereby promises to pay to , or registered assigns, the principal sum of Dollars ($ ) on July 15, 2001, and to pay interest on such principal sum at the rate per annum specified in the title of this Bond semi-annually on January 15 and July 15 in each year, until payment of such principal sum has been made, or duly provided for, to the registered owner hereof as of the close of business on the record date respecting such interest payment date. The first day of the month in which an interest payment date occurs (or in the event that such first day is not a Business Day, as defined in the Indenture referred to on the reverse side hereof, then the next preceding Business Day) shall be deemed the “record date” for the determination of persons to whom interest on Series A Bonds shall be issued initially payable; and, in the form event that any Bond is transferred after the close of one or more permanent global bonds in definitivebusiness on such record date and prior to the opening of business on the interest payment date next following, fully the interest payable on such interest payment date shall be paid to the registered form without interest coupons with holder at the global securities legend appearing close of business on such record date of such Series A Bond, subject to certain exceptions set forth in the form Indenture. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the registered holder on such record date, and may be paid to the person in whose name this Series A Bond is registered at the close of 2029 Bond hereinbefore set forth endorsed thereon (business on a “Global Bond”), which shall special record date for the payment of such Defaulted Interest to be deposited on behalf of the purchasers of the Bonds represented thereby with fixed by the Trustee, notice whereof shall be given to holders of Series A Bonds not less than 10 days prior to such special record date, or may be paid at its corporate trust officeany time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Series A Bonds may be listed, and upon such notice as may be required by such exchange, all as more fully provided in such Indenture. Interest on this Series A Bond may be paid by check to the order of the registered holder hereof on the relevant record date, mailed to such holder’s address as it appears upon the Bond Register of the Company. Both principal of and interest on this Bond, as securities custodian (well as any premium hereon in case of the redemption hereof prior to maturity, are payable at the Corporate Trust Office of the Trustee hereinafter named, in the Borough of Manhattan, City and State of New York, or with at such other securities custodian office or agency in said Borough as the Depository (as defined below) may direct), and registered in the name of the Depository or a nominee of the Depository, duly executed shall be maintained by the Company for such purpose, in such coin or currency of the United States of America as at the time of payment shall be legal tender for public and private debts. This Bond shall not be valid or obligatory for any purpose until authenticated by the Trustee as hereinafter provided. The aggregate principal amount of the Global Bonds may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depository or its nominee as hereinafter provided. The depository for the Global Bonds shall be The Depository Trust Company, a New York corporation, or its duly appointed successor (the “Depository”). This Section 2.01 shall apply only to a Global Bond deposited with or on behalf of the Depository. The Company shall execute and the Trustee shall, in the case of each of the 2029 Bonds in accordance with this Section 2.01, authenticate and deliver initially one or more Global Bonds for the 2029 Bonds, which (a) shall be registered in the name of the Depository or the nominee of the Depository and (b) shall be delivered execution by the Trustee to the Depository or pursuant to the Depository’s instructions or held by the Trustee as securities custodian. Members of, or participants in, the Depository (“Agent Members”) shall have no rights under this Supplemental Indenture with respect to any Global Bond held on their behalf by the Depository or by the Trustee as the securities custodian or under such Global Bond, and the Company, the Trustee and any agent of the Company or the Trustee shall be entitled to treat the Depository as the absolute owner of such Global Bond for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices of such Depository governing the exercise of the rights of a holder of a beneficial interest in any Global Bond. Except as provided in this Section 2.01, Section 2.02 or Section 2.03, owners of beneficial interests in Global Bonds shall not be entitled to receive physical delivery of certificated Bondscertificate inscribed hereon.

Form of Bonds. The 2029 Bonds shall be issued initially authenticated and delivered hereunder solely as fully registered bonds without coupons in the form denomination of one $5,000 or more permanent global bonds in definitive, fully registered form without interest coupons with the global securities legend appearing in the form of 2029 Bond hereinbefore set forth endorsed thereon (a “Global Bond”), which integral multiples thereof. Bonds shall be deposited numbered as determined by the Trustee. Bonds authenticated prior to the first interest payment date shall be dated April 1, 1997. Bonds authenticated on behalf or subsequent to the first interest payment date thereon shall be dated the interest payment date next preceding the date of the purchasers authentication thereof, unless such date of authentication shall be an interest payment date to which interest on the Bonds represented thereby with has been paid in full or duly provided for, in which case they shall be dated such date of authentication; provided, however, that if, as shown by the records of the Trustee, interest on the Bonds shall be in default, Bonds issued in exchange for Bonds surrendered for transfer or exchange shall be dated the date to which interest has been paid in full on the Bonds surrendered. Principal of and premium, if any, on Bonds shall be payable to the Owners of such Bonds upon presentation and surrender of such Bonds at its corporate trust officethe Principal Office of the Paying Agent or any Co-Paying Agent. Interest on the Bonds shall be paid by check drawn upon the Paying Agent and mailed to the Owners of such Bonds as of the close of business on the Record Date with respect to each interest payment date at the registered addresses of such Owners as they shall appear as of the close of business on such Record Date on the registration books maintained pursuant to Section 2.08 hereof notwithstanding the cancellation of any such Bond upon any exchange or registration of transfer subsequent to such Record Date, as securities custodian except that if and to the extent that there should be a default on the payment of interest on any Bond, such defaulted interest shall be paid to the Owners in whose name such Bond (or with such other securities custodian any Bond or Bonds issued upon any exchange or registration of transfer thereof) is registered as the Depository (as defined below) may direct), and registered in the name of the Depository or close of business on a nominee of the Depository, duly executed by the Company and authenticated date selected by the Trustee as hereinafter provided. The in its discretion, but not more than 15 days or less than 10 days prior to the date of payment of such defaulted interest; notwithstanding the foregoing, upon request to the Paying Agent by an Owner of not less than $1,000,000 in aggregate principal amount of Bonds, interest on such Bonds and, after presentation and surrender of such Bonds, the Global principal thereof shall be paid to such Owner by wire transfer to the account maintained within the continental United States specified by such Owner or, if such Owner maintains an account with the entity acting as Paying Agent, by deposit into such account. Payment as aforesaid shall be made in such coin or currency of the United States of America as, at the respective times of payment, shall be legal tender for the payment of public and private debts. The Bonds may from time and the form for registration of transfer and the form of certificate of authentication to time be increased or decreased by adjustments made printed on the records of Bonds are to be in substantially the Trustee forms thereof set forth in Exhibits A, B and the Depository C hereto, respectively, with necessary or its nominee appropriate variations, omissions and insertions as hereinafter provided. The depository for the Global Bonds shall be The Depository Trust Company, a New York corporation, permitted or its duly appointed successor (the “Depository”). This Section 2.01 shall apply only to a Global Bond deposited with or on behalf of the Depository. The Company shall execute and the Trustee shall, in the case of each of the 2029 Bonds in accordance with required by this Section 2.01, authenticate and deliver initially one or more Global Bonds for the 2029 Bonds, which (a) shall be registered in the name of the Depository or the nominee of the Depository and (b) shall be delivered by the Trustee to the Depository or pursuant to the Depository’s instructions or held by the Trustee as securities custodian. Members of, or participants in, the Depository (“Agent Members”) shall have no rights under this Supplemental Indenture with respect to any Global Bond held on their behalf by the Depository or by the Trustee as the securities custodian or under such Global Bond, and the Company, the Trustee and any agent of the Company or the Trustee shall be entitled to treat the Depository as the absolute owner of such Global Bond for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices of such Depository governing the exercise of the rights of a holder of a beneficial interest in any Global Bond. Except as provided in this Section 2.01, Section 2.02 or Section 2.03, owners of beneficial interests in Global Bonds shall not be entitled to receive physical delivery of certificated BondsIndenture.