Contract
Exhibit
4.4
OHIO
EDISON COMPANY
with
THE
BANK OF NEW
YORK,
As
Trustee
Eleventh
Supplemental Indenture
Providing
among
other things for
Mortgage
Bonds
Guarantee
Series A
of 2005 due 2029
Guarantee
Series B
of 2005 due 2029
Dated
as of
April 1, 2005
SUPPLEMENTAL
INDENTURE,
dated as of
April 1, 2005, between Ohio
Edison
Company,
a corporation
organized and existing under the laws of the State of Ohio (hereinafter called
the “Company”), and The
Bank of
New
York,
a banking
corporation organized and existing under the laws of the State of New York,
as
Trustee under the Indenture hereinafter referred to.
WHEREAS,
the
Company has heretofore executed and delivered to
The Bank of New
York,
as Trustee (hereinafter called the “Trustee”), a certain General Mortgage
Indenture and Deed of Trust, dated as of January 1, 1998, to secure bonds
of the
Company, issued and to be issued in series, from time to time, in the manner
and
subject to the conditions set forth in the said Indenture, which Indenture
as
heretofore and hereby supplemented is hereinafter referred to as the
“Indenture”; and
WHEREAS,
the
Company has entered into an Air Quality Facilities Loan Agreement, dated
as of
April 1, 2005 (the “Air Loan Agreement”), with the Ohio Air Quality Development
Authority (the “Air Authority”) in connection with which the Air Authority will
issue $100,000,000 aggregate principal amount of State of Ohio Pollution
Control
Revenue Refunding Bonds, Series 2005-A (Ohio Edison Company Project) (the
“Air
Bonds”) under a Trust Indenture, dated as of April 1, 2005 (the “Air Bond
Indenture”), between the Air Authority and X.X. Xxxxxx Trust Company, National
Association, as trustee (the “Air Bond Trustee”), in order to provide funds to
loan to the Company for the purpose of refunding certain bonds previously
issued
by the Air Authority to assist the Company in the financing of the cost of
certain air quality facilities;
WHEREAS,
the
Company, by appropriate corporate action in conformity with the terms of
the
Indenture, has duly determined to create a new series of bonds under the
Indenture to be delivered to the Air Bond Trustee for the benefit of the
Air
Bonds, consisting of $100,000,000 in aggregate principal amount to be designated
as “Mortgage Bonds, Guarantee Series A of 2005 due 2029” (hereinafter referred
to as the “bonds of Guarantee Series A”), which shall bear interest at the rate
per annum set forth in, shall be subject to certain redemption rights and
obligations set forth in, and will otherwise be in the form and have the
terms
and provisions provided for in this Supplemental Indenture and set forth
in the
form of such bond below;
WHEREAS,
the
Company has entered into a Waste Water Facilities Loan Agreement, dated as
of
April 1, 2005 (the “Water Loan Agreement”, together with the Air Loan Agreement,
the “Loan Agreements”), with the Ohio Water Development Authority (the “Water
Authority”) in connection with which the Water Authority will issue $6,450,000
aggregate principal amount of State of Ohio Pollution Control Revenue Refunding
Bonds Series 2005-A (Ohio Edison Company Project) (the “Water Bonds”, together
with the Air Bonds, the “Revenue Bonds”) under a Trust Indenture, dated as of
April 1, 2005 (the “Water Bond Indenture”, together with the Air Bond Indenture,
the “Revenue Bond Indentures”), between the Water Authority and X.X. Xxxxxx
Trust Company, National Association, as trustee (the “Water Bond Trustee”), in
order to provide funds to loan to the Company for the purpose of refunding
certain bonds previously issued by the Water Authority to assist the Company
in
the financing of the cost of certain waste water facilities;
2
WHEREAS,
the
Company, by appropriate corporate action in conformity with the terms of
the
Indenture, has duly determined to create a new series of bonds under the
Indenture to be delivered to the Water Bond Trustee for the benefit of the
Water
Bonds, consisting of $6,450,000 in aggregate principal amount to be designated
as “Mortgage Bonds, Guarantee Series B of 2005 due 2029” (hereinafter referred
to as the “bonds of Guarantee Series B”, together with the bonds of Guarantee
Series A, the “bonds of the 2005 Guarantee Series”), which shall bear interest
at the rate per annum set forth in, shall be subject to certain redemption
rights and obligations set forth in, and will otherwise be in the form and
have
the terms and provisions provided for in this Supplemental Indenture and
set
forth in the form of such bond below:
[Form
of Bond of
Guarantee Series A]
This
bond is not
transferable except (i) to a successor trustee under the Trust Indenture
dated
as of April 1, 2005 between the Ohio Air Quality Development Authority
and
X.X. Xxxxxx Trust Company, National Association, as successor trustee, (ii)
in
connection with the exercise of the rights and remedies of the holder hereof
consequent upon an “Event of Default” as defined in the Indenture referred to
herein or (iii) in compliance with a final order of a court of competent
jurisdiction or in connection with any bankruptcy or reorganization proceeding
of the Company.
OHIO
EDISON
COMPANY
Mortgage
Bond,
Guarantee Series A of 2005 due 2029
Due
April
1, 2029
$_________________
No.
____
Ohio
Edison
Company,
a corporation of
the State of Ohio (hereinafter called the Company), for value received, hereby
promises to pay to ,
or registered
assigns, _____________ dollars at an office or agency of the Company in the
Borough of Manhattan, The City of New York, New York or the City of
Akron,
Ohio, on ____________ in any coin or currency of the United States of America
which at the time of payment is legal tender for public and private debts,
and
to pay at said office or agency to the registered owner hereof, in like coin
or
currency, interest thereon from the Initial Interest Accrual Date (hereinafter
defined) at the Revenue Bond Interest Rate (hereinafter defined) per annum
payable semi-annually on April 1 and October 1 in each year
commencing
on the April 1 or October 1 immediately succeeding the Initial
Interest Accrual Date (each such date herein referred to as an “interest payment
date”) on and until maturity, or, in the case of any bonds of this series duly
called for redemption, on and until the redemption date, or in the case of
any
default by the Company in the payment of the principal due on any bonds of
this
series, until the Company’s obligation with respect to the payment of the
principal shall be discharged as provided in the Indenture referred to on
the
reverse hereof.
The
provisions of
this bond are continued on the reverse-hereof and such continued provisions
shall for all purposes have the same effect as though fully set forth at
this
place.
3
This
bond shall not
become valid or obligatory until The Bank of New York, the Trustee under
the
Indenture referred to on the reverse hereof, or its successor thereunder,
shall
have authenticated the form of certificate endorsed hereon.
IN
WITNESS WHEREOF, Ohio
Edison
Company
has caused this
bond to be signed in its name by its President or a Vice President, by his
or
her signature or a facsimile thereof, and its corporate seal to be affixed
hereto or reproduced hereon, attested by its Corporate Secretary or an Assistant
Corporate Secretary, by his or her signature or a facsimile thereof.
Dated:
OHIO EDISON COMPANY | ||
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By: | ||
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Title: |
Attest: | |||
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Title: |
[Form
of Trustee’s
Authentication Certificate]
Trustee’s
Authentication Certificate
This
is one of the
bonds of the series designated therein referred to in the within-mentioned
Indenture.
THE
BANK OF NEW YORK,
as
Trustee
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By: | ||
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Authorized
Signatory
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[Reverse
of Form of
Bond of Guarantee Series A]
OHIO
EDISON
COMPANY
Mortgage
Bond,
Guarantee Series A of 2005 due 2029
This
bond is one of
an issue of bonds of the Company, issuable in series, and is one of a series
known as its Mortgage Bonds of the series designated in its title, all issued
and to be issued under and equally secured (except as to any money, obligations
or other instruments, or earnings thereon, deposited with the Trustee in
accordance with the provisions of the Indenture hereinafter mentioned for
the
bonds of any particular series) by a General Mortgage Indenture and Deed
of
Trust, dated as of January 1, 1998, executed by the Company to The Bank of
New
York, as Trustee, as amended and supplemented by indentures supplemental
thereto
to which Indenture as so amended and supplemented (herein referred to as
the
“Indenture”) reference is made for a description of the property mortgaged and
pledged, the nature and extent of the security, the rights of the holders
of the
bonds in respect thereof and the terms and conditions upon which the bonds
are
secured.
4
The
bonds of this
series shall be redeemed in whole, by payment of the principal amount thereof
plus accrued interest thereon, if any, to the date fixed for redemption,
upon
receipt by the Trustee of a written advice from the trustee under the Trust
Indenture (the “Revenue Bond Indenture”) dated as of April 1, 2005, between
the Ohio Air Quality Development Authority and X.X. Xxxxxx Trust Company,
National Association, as successor trustee (such trustee and any successor
trustee being hereinafter referred to as the “Revenue Bond Trustee”), securing
$100,000,000 of State of Ohio Pollution Control Revenue Refunding Bonds,
Series
2005-A (Ohio Edison Company Project) issued on behalf of the Company (the
“Revenue Bonds”), stating that the principal amount of all the Revenue Bonds
then outstanding under the Revenue Bond Indenture has been declared due and
payable pursuant to the provisions of Section 11.02 of the Revenue Bond
Indenture, specifying the date of the accelerated maturity of such Revenue
Bonds
and the date from which interest on the Revenue Bonds issued under the Revenue
Bond Indenture has then accrued and is unpaid (specifying the rate or rates
of
such accrual and the principal amount of the particular Revenue Bonds to
which
such rates apply), stating such declaration of maturity has not been annulled
and demanding payment of the principal amount hereof plus accrued interest
hereon to the date fixed for such redemption. The date fixed for such redemption
shall not be earlier than the date specified in the aforesaid written advice
as
the date of the accelerated maturity of the Revenue Bonds then outstanding
under
the Revenue Bond Indenture and not later than the 45th
day after receipt
by the Trustee of such advice, unless such 45th
day is earlier
than such date of accelerated maturity. The date fixed for such redemption
shall
be specified by the Revenue Bond Trustee in a notice of redemption to be
given
by the Trustee not less than 30 days prior to the date so fixed for such
redemption. Upon mailing of such notice of redemption, the date from which
unpaid interest on the Revenue Bonds has then accrued (as specified by the
Revenue Bond Trustee) shall become the initial interest accrual date (the
“Initial Interest Accrual Date”) with respect to the bonds of this series;
provided, however, on any demand for payment of the principal amount hereof
at
maturity as a result of the principal of the Revenue Bonds becoming due and
payable on the maturity date of the bonds of this series, the earliest date
from
which unpaid interest on the Revenue Bonds has then accrued shall become
the
Initial Interest Accrual Date with respect to the bonds of this series, such
date, together with each other different date from which unpaid interest
on the
Revenue Bonds has then accrued, as to be stated in a written notice from
the
Revenue Bond Trustee to the Trustee, which notice shall also specify the
rate or
rates of such accrual and the principal amount of the particular Revenue
Bonds
to which such rate or rates apply. The aforementioned notice of redemption
shall
become null and void for all purposes under the Indenture, (including the
fixing
of the Initial Interest Accrual Date with respect to the bonds of this series)
upon receipt by the Trustee of written notice from the Revenue Bond Trustee
of
the annulment of the acceleration of the maturity of the Revenue Bonds then
outstanding under the Revenue Bond Indenture and the rescission of the aforesaid
written advice prior to the redemption date specified in such notice of
redemption, and thereupon no redemption of the bonds of this series and no
payment in respect thereof as specified in such notice of redemption shall
be
effected or required. But no such rescission shall extend to any subsequent
written advice from the Revenue Bond Trustee or impair any right consequent
on
such subsequent written advice.
5
Bonds
of this
series are not otherwise redeemable prior to their maturity.
The
“Revenue
Bond
Interest Rate” shall be the same rate of interest per annum as is borne by the
Revenue Bonds; provided, however, that if there are different rates of interest
borne by the Revenue Bonds, or if interest is required to be paid on the
Revenue
Bonds more frequently than on each April 1 or October 1, the
Revenue
Bond Interest Rate shall be the rate that results in the total amount of
interest payable on an interest payment date, a redemption date or at maturity,
as the case may be, or at any other time interest on this bond is due and
payable, to be equal to the total amount of unpaid interest that has accrued
on
all then outstanding Revenue Bonds.
The
principal
hereof may be declared or may become due on the conditions, in the manner
and at
the time set forth in the Indenture upon the occurrence and continuance of
an
Event of Default (as defined in the Indenture) as in the Indenture
provided.
Bonds
of this
series shall be deemed to be paid and no longer outstanding under the Indenture
to the extent the aggregate principal amount of bonds of this series exceeds
the
aggregate principal amount of the Revenue Bonds outstanding from time to
time.
The Trustee may rely on an Officer’s Certificate (as defined in the Indenture)
to this effect.
Unless
and until
the Trustee shall have received from the Revenue Bond Trustee any such aforesaid
written advice stating that the principal amount of all Revenue Bonds then
outstanding under the Revenue Bond Indenture has been declared due and payable
or any demand for payment of the principal amount hereof at maturity as a
result
of the principal of the Revenue Bonds becoming due and payable on the maturity
date of the bonds of this series, the Trustee may conclusively presume that
the
obligation of the Company to pay the principal of, and interest, if any,
on the
bonds of this series shall have been fully satisfied and
discharged.
From
and after the
Release Date (as defined in the Revenue Bond Indenture), the bonds of this
series shall be deemed fully paid, satisfied and discharged and the obligation
of the Company thereunder shall be terminated. On the Release Date or promptly
following, the bonds of this series shall be surrendered to and canceled
by the
Trustee.
No
recourse shall be had for the payment of the principal of or premium, or
interest if any, on this bond, or any part thereof, or for any claim based
thereon or otherwise in respect thereof, or of the indebtedness represented
thereby, or upon any obligation, covenant or agreement under the Indenture,
against any incorporator, stockholder, officer or director, as such, past,
present or future of the Company or of any predecessor or successor corporation,
either directly or through the Company or a predecessor or successor
corporation, whether by virtue of any Constitutional provision, statute or
rule
of law, or by the enforcement of any assessment or penalty or otherwise,
all
such liability of incorporators, stockholders, officers and directors being
released by the registered owner hereof by the acceptance of this bond and
being
likewise waived and released by the terms of the Indenture.
6
The
bonds of this
series are issuable only as a single registered bond without coupons in a
denomination equal to the aggregate principal amount of bonds of this series
outstanding. If and to the extent this bond becomes transferable, the registered
owner hereof, in person or by attorney duly authorized, may effectuate such
transfer at an office or agency of the Company, in the Borough of Manhattan,
The
City of New York, New York or in the City of Akron, Ohio, upon surrender
and
cancellation of this bond and thereupon a new registered bond or bonds of
the
same series for a like principal amount, will be issued to the transferee
in
exchange therefor, as provided in the Indenture, and upon payment, if the
Company shall require it, of the transfer charges therein prescribed. The
Company and the Trustee may deem and treat the person in whose name this
bond is
registered as the absolute owner for the purpose of receiving payment of
or on
account of the principal and interest due hereon and for all other purposes.
[End
of Form of
Bond of Guarantee Series A]
[Form
of Bond of
Guarantee Series B]
This
bond is not
transferable except (i) to a successor trustee under the Trust Indenture
dated
as of April 1, 2005 between the Ohio Water Development Authority and
X.X.
Xxxxxx Trust Company, National Association, as successor trustee, (ii) in
connection with the exercise of the rights and remedies of the holder hereof
consequent upon an “Event of Default” as defined in the Indenture referred to
herein or (iii) in compliance with a final order of a court of competent
jurisdiction or in connection with any bankruptcy or reorganization proceeding
of the Company.
OHIO
EDISON
COMPANY
Mortgage
Bond,
Guarantee Series B of 2005 due 2029
Due
April
1, 2029
$_________________No.
____
Ohio
Edison
Company,
a corporation of
the State of Ohio (hereinafter called the Company), for value received, hereby
promises to pay to ,
or registered
assigns, _____________ dollars at an office or agency of the Company in the
Borough of Manhattan, The City of New York, New York or the City of
Akron,
Ohio, on ____________ in any coin or currency of the United States of America
which at the time of payment is legal tender for public and private debts,
and
to pay at said office or agency to the registered owner hereof, in like coin
or
currency, interest thereon from the Initial Interest Accrual Date (hereinafter
defined) at the Revenue Bond Interest Rate (hereinafter defined) per annum
payable semi-annually on April 1 and October 1 in each year
commencing
on the April 1 or October 1 immediately succeeding the Initial
Interest Accrual Date (each such date herein referred to as an “interest payment
date”) on and until maturity, or, in the case of any bonds of this series duly
called for redemption, on and until the redemption date, or in the case of
any
default by the Company in the payment of the principal due on any bonds of
this
series, until the Company’s obligation with respect to the payment of the
principal shall be discharged as provided in the Indenture referred to on
the
reverse hereof.
7
The
provisions of
this bond are continued on the reverse-hereof and such continued provisions
shall for all purposes have the same effect as though fully set forth at
this
place.
This
bond shall not
become valid or obligatory until The Bank of New York, the Trustee under
the
Indenture referred to on the reverse hereof, or its successor thereunder,
shall
have authenticated the form of certificate endorsed hereon.
IN
WITNESS WHEREOF, Ohio
Edison
Company
has caused this
bond to be signed in its name by its President or a Vice President, by his
or
her signature or a facsimile thereof, and its corporate seal to be affixed
hereto or reproduced hereon, attested by its Corporate Secretary or an Assistant
Corporate Secretary, by his or her signature or a facsimile thereof.
Dated:
OHIO EDISON COMPANY | ||
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By: | ||
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Title: |
Attest: | |||
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Title: |
[Form
of Trustee’s
Authentication Certificate]
Trustee’s
Authentication Certificate
This
is one of the
bonds of the series designated therein referred to in the within-mentioned
Indenture.
The
Bank of New York,
as
Trustee
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By: | ||
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Authorized Signatory |
[Reverse
of Form of
Bond of Guarantee Series B]
OHIO
EDISON
COMPANY
Mortgage
Bond,
Guarantee Series B of 2005 due 2029
This
bond is one of
an issue of bonds of the Company, issuable in series, and is one of a series
known as its Mortgage Bonds of the series designated in its title, all issued
and to be issued under and equally secured (except as to any money, obligations
or other instruments, or earnings thereon, deposited with the Trustee in
accordance with the provisions of the Indenture hereinafter mentioned for
the
bonds of any particular series) by a General Mortgage Indenture and Deed
of
Trust, dated as of January 1, 1998, executed by the Company to The Bank of
New
York, as Trustee, as amended and supplemented by indentures supplemental
thereto
to which Indenture as so amended and supplemented (herein referred to as
the
“Indenture”) reference is made for a description of the property mortgaged and
pledged, the nature and extent of the security, the rights of the holders
of the
bonds in respect thereof and the terms and conditions upon which the bonds
are
secured.
8
The
bonds of this
series shall be redeemed in whole, by payment of the principal amount thereof
plus accrued interest thereon, if any, to the date fixed for redemption,
upon
receipt by the Trustee of a written advice from the trustee under the Trust
Indenture (the “Revenue Bond Indenture”) dated as of April 1, 2005, between
the Ohio Water Development Authority and X.X. Xxxxxx Trust Company, National
Association, as successor trustee (such trustee and any successor trustee
being
hereinafter referred to as the “Revenue Bond Trustee”), securing $6,450,000 of
State of Ohio Pollution Control Revenue Refunding Bonds, Series 2005-A (Ohio
Edison Company Project) issued on behalf of the Company (the “Revenue Bonds”),
stating that the principal amount of all the Revenue Bonds then outstanding
under the Revenue Bond Indenture has been declared due and payable pursuant
to
the provisions of Section 11.02 of the Revenue Bond Indenture, specifying
the
date of the accelerated maturity of such Revenue Bonds and the date from
which
interest on the Revenue Bonds issued under the Revenue Bond Indenture has
then
accrued and is unpaid (specifying the rate or rates of such accrual and the
principal amount of the particular Revenue Bonds to which such rates apply),
stating such declaration of maturity has not been annulled and demanding
payment
of the principal amount hereof plus accrued interest hereon to the date fixed
for such redemption. The date fixed for such redemption shall not be earlier
than the date specified in the aforesaid written advice as the date of the
accelerated maturity of the Revenue Bonds then outstanding under the Revenue
Bond Indenture and not later than the 45th
day after receipt
by the Trustee of such advice, unless such 45th
day is earlier
than such date of accelerated maturity. The date fixed for such redemption
shall
be specified by the Revenue Bond Trustee in a notice of redemption to be
given
by the Trustee not less than 30 days prior to the date so fixed for such
redemption. Upon mailing of such notice of redemption, the date from which
unpaid interest on the Revenue Bonds has then accrued (as specified by the
Revenue Bond Trustee) shall become the initial interest accrual date (the
“Initial Interest Accrual Date”) with respect to the bonds of this series;
provided, however, on any demand for payment of the principal amount hereof
at
maturity as a result of the principal of the Revenue Bonds becoming due and
payable on the maturity date of the bonds of this series, the earliest date
from
which unpaid interest on the Revenue Bonds has then accrued shall become
the
Initial Interest Accrual Date with respect to the bonds of this series, such
date, together with each other different date from which unpaid interest
on the
Revenue Bonds has then accrued, as to be stated in a written notice from
the
Revenue Bond Trustee to the Trustee, which notice shall also specify the
rate or
rates of such accrual and the principal amount of the particular Revenue
Bonds
to which such rate or rates apply. The aforementioned notice of redemption
shall
become null and void for all purposes under the Indenture, (including the
fixing
of the Initial Interest Accrual Date with respect to the bonds of this series)
upon receipt by the Trustee of written notice from the Revenue Bond Trustee
of
the annulment of the acceleration of the maturity of the Revenue Bonds then
outstanding under the Revenue Bond Indenture and the rescission of the aforesaid
written advice prior to the redemption date specified in such notice of
redemption, and thereupon no redemption of the bonds of this series and no
payment in respect thereof as specified in such notice of redemption shall
be
effected or required. But no such rescission shall extend to any subsequent
written advice from the Revenue Bond Trustee or impair any right consequent
on
such subsequent written advice.
9
Bonds
of this
series are not otherwise redeemable prior to their maturity.
The
“Revenue
Bond
Interest Rate” shall be the same rate of interest per annum as is borne by the
Revenue Bonds; provided, however, that if there are different rates of interest
borne by the Revenue Bonds, or if interest is required to be paid on the
Revenue
Bonds more frequently than on each April 1 or October 1, the
Revenue
Bond Interest Rate shall be the rate that results in the total amount of
interest payable on an interest payment date, a redemption date or at maturity,
as the case may be, or at any other time interest on this bond is due and
payable, to be equal to the total amount of unpaid interest that has accrued
on
all then outstanding Revenue Bonds.
The
principal
hereof may be declared or may become due on the conditions, in the manner
and at
the time set forth in the Indenture upon the occurrence and continuance of
an
Event of Default (as defined in the Indenture) as in the Indenture
provided.
Bonds
of this
series shall be deemed to be paid and no longer outstanding under the Indenture
to the extent the aggregate principal amount of bonds of this series exceeds
the
aggregate principal amount of the Revenue Bonds outstanding from time to
time.
The Trustee may rely on an Officer’s Certificate (as defined in the Indenture)
to this effect.
Unless
and until
the Trustee shall have received from the Revenue Bond Trustee any such aforesaid
written advice stating that the principal amount of all Revenue Bonds then
outstanding under the Revenue Bond Indenture has been declared due and payable
or any demand for payment of the principal amount hereof at maturity as a
result
of the principal of the Revenue Bonds becoming due and payable on the maturity
date of the bonds of this series, the Trustee may conclusively presume that
the
obligation of the Company to pay the principal of, and interest, if any,
on the
bonds of this series shall have been fully satisfied and
discharged.
From
and after the
Release Date (as defined in the Revenue Bond Indenture), the bonds of this
series shall be deemed fully paid, satisfied and discharged and the obligation
of the Company thereunder shall be terminated. On the Release Date or promptly
following, the bonds of this series shall be surrendered to and canceled
by the
Trustee.
No
recourse shall be had for the payment of the principal of or premium, or
interest if any, on this bond, or any part thereof, or for any claim based
thereon or otherwise in respect thereof, or of the indebtedness represented
thereby, or upon any obligation, covenant or agreement under the Indenture,
against any incorporator, stockholder, officer or director, as such, past,
present or future of the Company or of any predecessor or successor corporation,
either directly or through the Company or a predecessor or successor
corporation, whether by virtue of any Constitutional provision, statute or
rule
of law, or by the enforcement of any assessment or penalty or otherwise,
all
such liability of incorporators, stockholders, officers and directors being
released by the registered owner hereof by the acceptance of this bond and
being
likewise waived and released by the terms of the Indenture.
10
The
bonds of this
series are issuable only as a single registered bond without coupons in a
denomination equal to the aggregate principal amount of bonds of this series
outstanding. If and to the extent this bond becomes transferable, the registered
owner hereof, in person or by attorney duly authorized, may effectuate such
transfer at an office or agency of the Company, in the Borough of Manhattan,
The
City of New York, New York or in the City of Akron, Ohio, upon surrender
and
cancellation of this bond and thereupon a new registered bond or bonds of
the
same series for a like principal amount, will be issued to the transferee
in
exchange therefor, as provided in the Indenture, and upon payment, if the
Company shall require it, of the transfer charges therein prescribed. The
Company and the Trustee may deem and treat the person in whose name this
bond is
registered as the absolute owner for the purpose of receiving payment of
or on
account of the principal and interest due hereon and for all other purposes.
[End
of Form of
Bond of Guarantee Series B]
and
WHEREAS,
the
Company deems it advisable to enter into this Supplemental Indenture for
the
purposes of establishing the form, terms and provisions of the bonds of the
2005
Guarantee Series, as provided and contemplated by Sections 2.01(a) and 3.01(b)
of the Indenture, and the Company has requested and hereby requests the Trustee
to join in the execution of this Supplemental Indenture;
NOW,
THEREFORE, IT
IS HEREBY COVENANTED, DECLARED AND AGREED, by the Company, that all such
bonds
of the 2005 Guarantee Series are to be issued, authenticated and delivered,
subject to this Supplemental Indenture and to the further covenants, conditions,
uses and trusts in the Indenture set forth, and the parties hereto mutually
agree as follows:
SECTION
1. The
bonds of
Guarantee Series A and the bonds of Guarantee Series B shall be designated
as the Company’s “Mortgage Bonds, Guarantee Series A of 2005 due 2029” and
“Mortgage Bonds, Guarantee Series B of 2005 due 2029”,
respectively.
The
bonds of
Guarantee Series A and the bonds of Guarantee Series B shall
bear
interest from the respective Initial Interest Accrual Date as provided in
the
respective forms of the bond of the 2005 Guarantee Series hereinabove set
forth,
and such provisions are incorporated at this place as though set forth in
their
entirety. The interest rate and maturity date of the bonds of the 2005 Guarantee
Series shall be as set forth in the respective forms of bond hereinabove
set
forth. Principal or redemption price of and interest on the bonds of the
2005
Guarantee Series shall be payable in any coin or currency of the United States
of America which at the time of payment is legal tender for public and private
debts, at an office or agency of the Company in the Borough of Manhattan,
The
City of New York, New York or in the City of Akron, Ohio.
Definitive
bonds of
the 2005 Guarantee Series may be issued, originally or otherwise, only as
registered bonds, substantially in the respective form of bond hereinabove
set
forth, and in a single denomination equal to the respective aggregate principal
amount thereof that is Outstanding. Delivery of a bond of the 2005 Guarantee
Series to the Trustee for authentication shall be conclusive evidence that
its
serial number has been duly approved by the Company.
11
The
bonds of the
2005 Guarantee Series shall be redeemable as provided in the respective form
of
bond hereinabove set forth, and such provisions are incorporated at this
place
as though set forth in their entirety.
SECTION
2. Bonds
of the 2005
Guarantee Series shall be deemed to be paid and no longer outstanding under
the
Indenture to the extent that the aggregate principal amount thereof exceeds
the
aggregate principal amount of related Revenue Bonds (as defined in the
respective form of bond hereinabove set forth) outstanding from time to time.
The Trustee may rely on an Officer’s Certificate to this effect.
From
and after the
Release Date (as defined in the applicable Revenue Bond Indenture), the bonds
of
the 2005 Guarantee Series shall be deemed fully paid, satisfied and discharged
and the obligation of the Company thereunder shall be terminated. On or promptly
following the applicable Release Date, the bonds of the 2005 Guarantee Series
shall be surrendered to and canceled by the Trustee.
Unless
and until
the Trustee shall have received from the applicable Revenue Bond Trustee
any
written advice stating that the principal amount of all related Revenue Bonds
then outstanding under the applicable Revenue Bond Indenture has been declared
due and payable or any demand for payment of the principal amount of the
respective bonds of the 2005 Guarantee Series at maturity as a result of
the
principal of the related Revenue Bonds becoming due and payable on the maturity
date of the respective bonds of the 2005 Guarantee Series, as provided in
the
respective forms of the respective bonds of the 2005 Guarantee Series
hereinabove set forth, the Trustee may conclusively presume that the obligation
of the Company to pay the principal of, and interest, if any, on the respective
bonds of the 2005 Guarantee Series shall have been fully satisfied and
discharged.
SECTION
3. Bonds
of the 2005
Guarantee Series are not transferable except in connection with the exercise
of
the rights and remedies of the holder thereof consequent upon an “Event of
Default” as defined in the Indenture or as otherwise provided in the form of
bond hereinabove set forth. If and to the extent bonds of the 2005 Guarantee
Series become transferable, such transfer may be accomplished by the Holders
thereof, in person or by attorney duly authorized, at an office or agency
of the
Company in the Borough of Manhattan, The City of New York, New York or in
the
City of Akron, Ohio, but only in the manner and upon the conditions prescribed
in the Indenture and in the form of bond of such series hereinabove
recited.
SECTION
4. The
principal
amount of bonds of Guarantee Series A which may be authenticated and delivered
hereunder is limited to the aggregate principal amount of One Hundred Million
Dollars ($100,000,000).
SECTION
5. The
principal
amount of bonds of Guarantee Series B which may be authenticated and delivered
hereunder is limited to the aggregate principal amount of Six Million Four
Hundred Fifty Thousand Dollars ($6,450,000).
12
Bonds
of Guarantee
Series A in the aggregate principal amount of One Hundred Million Dollars
($100,000,000) and bonds of Guarantee Series B in the aggregate principal
amount of Six Million Four Hundred Fifty Thousand Dollars ($6,450,000),
respectively, may at any time subsequent to the execution hereof be executed
by
the Company and delivered to the Trustee and shall be authenticated by the
Trustee and delivered (either before or after the recording hereof) upon
the
basis of Unbonded Class “A” Bonds issued and delivered to the Trustee for such
purpose, pursuant to a Company Order referred to in Section 4.01 of the
Indenture and upon receipt by the Trustee of the opinions and other documents
required by Sections 4.01 and 4.02 of the Indenture.
SECTION
6. Except
as herein
otherwise expressly provided, no duties, responsibilities or liabilities
are
assumed, or shall be construed to be assumed, by the Trustee by reason of
this
Supplemental Indenture; the Trustee shall not be responsible in any manner
whatsoever for or in respect of the validity or sufficiency of this Supplemental
Indenture or for or in respect of the recitals herein or in the bonds of
the
2005 Guarantee Series (except the Trustee’s authentication certificates), all of
which are made by the Company solely; and this Supplemental Indenture is
executed and accepted by the Trustee, subject to all the terms and conditions
set forth in the Indenture, as fully to all intents and purposes as if the
terms
and conditions of the Indenture were herein set forth at length.
SECTION
7. As
supplemented by
this Supplemental Indenture, the Indenture is in all respects ratified and
confirmed, and the Indenture as herein defined, and this Supplemental Indenture,
shall be read, taken and construed as one and the same instrument. Capitalized
terms used herein and not otherwise defined herein shall have the meaning
ascribed to them in the Indenture.
SECTION
8. Nothing
in this
Supplemental Indenture contained shall or shall be construed to confer upon
any
person other than a Holder of Bonds issued under the Indenture, the Company
and
the Trustee any right or interest to avail himself of any benefit under any
provision of the Indenture or of this Supplemental Indenture.
SECTION
9. This
Supplemental
Indenture may be simultaneously executed in several counterparts and all
such
counterparts executed and delivered, each as an original, shall constitute
but
one and the same instrument.
13
In
Witness Whereof, Ohio Edison Company
and The
Bank of New
York
have caused these presents to be executed in their respective names by their
respective Presidents or one of their Vice Presidents or Assistant Vice
Presidents and their respective seals to be hereunto affixed and attested
by
their respective Corporate Secretaries or one of their Vice Presidents,
Assistant Corporate Secretaries or Assistant Treasurers, all as of the day
and
year first above written.
OHIO EDISON COMPANY | ||
|
|
|
By: | ||
Xxxxxx X. Xxxxxx |
||
Vice President and Controller |
[Seal]
Attest: | |||
|
|||
Xxxxxx
X.
Xxxxxxx Assistant Corporate Secretary |
Signed,
Sealed and
Acknowledged on behalf of
Ohio
Edison
Company
in the presence
of:
|
|||
Xxxxxx
X.
Xxxxxx |
|
|||
Xxxxxxxx X. Xxxxx |
14
THE
BANK OF NEW YORK,
as
Trustee
|
||
|
|
|
By: | ||
|
||
Xxxxxxx
Xxxxxxxxx
Vice
President
|
[Seal]
Attest: | |||
|
|||
Xxxxx
Xxxxxxxxx-Xxxxxx Vice President |
Signed,
Sealed and
Acknowledged on behalf of
The
Bank of New
York
in the presence of:
|
|||
Xxxx
Xxxxx Vice President |
|
|||
Xxxxxx
Xxxxxxxxxx Vice President |
15
STATE
OF
OHIO
)
)
ss.:
COUNTY
OF
SUMMIT
)
On
the ____ day of April in the year 2005 before me, the undersigned, personally
appeared Xxxxxx X. Xxxxxx and Xxxxxx X. Xxxxxxx, personally known to me or
proved to me on the basis of satisfactory evidence to be the individuals
whose
names are subscribed to the within instrument and acknowledged to me that
they
executed the same in their capacity as Vice President and Controller and
Assistant Corporate Secretary, respectively, and that by their signatures
on the
instrument, the individuals, or the person or entity upon behalf of which
the
individuals acted, executed the instruments.
|
|
|
|
||
Xxxxx
X.
Xxxxxxx
Notary Public
Residence - Summit
County
Statewide Jurisdiction,
Ohio
My Commission Expires
December 9, 2006
|
[SEAL]
16
STATE
OF NEW
YORK
)
)
ss.:
COUNTY
OF NEW
YORK )
On
the ___ day of April in the year 2005 before me, the undersigned, personally
appeared Xxxxxxx Xxxxxxxxx and Xxxxx Xxxxxxxxx-Xxxxxx, each personally known
to
me or proved to me on the basis of satisfactory evidence to be the individuals
whose names are subscribed to the within instrument and acknowledged to me
that
they executed the same in their capacity as Vice President and Vice President,
respectively, of The Bank of New York, and that by their signatures
on the
instrument, the individuals, or the person or entity upon behalf of which
the
individuals acted, executed the instruments.
|
|
|
|
||
Xxxxxxx X.
Xxxxxxx
Notary Public, State
of New
York
No. 01CA5027729
Qualified in Bronx
County
Commission expires
May 18,
2006
|
[SEAL]
17
The
Bank of New
York hereby certifies that its precise name and address as Trustee hereunder
are:
The
Bank of New
York
000
Xxxxxxx
Xxxxxx
City,
County and
State of New York 10286
The Bank of New York | ||
|
|
|
By: | ||
|
||
Xxxxxxx
Xxxxxxxxx
Vice
President
|
This
instrument was
prepared by FirstEnergy Corp.
18