PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND U.S. BANK NATIONAL ASSOCIATION, Successor to WACHOVIA BANK, NATIONAL ASSOCIATION and to FIRST UNION NATIONAL BANK Formerly Known as FIRST FIDELITY BANK, NATIONAL ASSOCIATION, NEW JERSEY Successor to BANK OF...

Exhibit 4.1

PUBLIC SERVICE COMPANY

OF NEW HAMPSHIRE

AND

U.S. BANK NATIONAL ASSOCIATION,

Successor to WACHOVIA BANK, NATIONAL ASSOCIATION

and to FIRST UNION NATIONAL BANK

Formerly Known as FIRST FIDELITY BANK, NATIONAL ASSOCIATION,

NEW JERSEY

Successor to BANK OF NEW ENGLAND, NATIONAL ASSOCIATION

(Formerly Known as NEW ENGLAND MERCHANTS NATIONAL BANK)

and to

NEW BANK OF NEW ENGLAND, NATIONAL ASSOCIATION, TRUSTEE

NINETEENTH SUPPLEMENTAL INDENTURE
Dated as of September 1, 2011

TO ISSUE SERIES R
FIRST MORTGAGE BONDS

$160,000,000 First Mortgage Bonds, Series R, due 2021

TABLE OF CONTENTS

Page

Date and Parties

Recitals

Granting Clauses

Exceptions

Habendum

Declaration in Trust

ARTICLE 1 – SERIES R BONDS

1.01

Designation; Amount

1.02

Form of Series R Bonds; Global Security; Depository for Global Securities

1.03

Provisions of Series R Bonds; Interest Accrual

1.04

Transfer and Exchange of Series R Bonds

1.05

Redemption of the Series R Bonds

1.06

Effect of Event of Default

1.07

Payment Date Not a Business Day

1.08

Consent to Amendment and Restatement of Mortgage Indenture

ARTICLE 2 –MISCELLANEOUS PROVISIONS

2.01

Recitals

2.02

Benefits of Nineteenth Supplemental Indenture

2.03

Effect of Nineteenth Supplemental Indenture

2.04

Termination

2.05

Trust Indenture Act

2.06

Counterparts

2.07

Notices

2.08

Definitions

Testimonium
Signatures

Schedule A

Form of Series R Bonds

Schedule B

Description of Certain Properties Acquired Since May 1, 2011

Acknowledgments
Endorsement

THIS NINETEENTH SUPPLEMENTAL INDENTURE dated as of September 1, 2011, between PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE (with its successors and assigns, the “Company”), a corporation duly organized and existing under the laws of the State of New Hampshire, having its principal place of business at Energy Park, 000 Xxxxx Xxxxxxxxxx Xxxxxx in Xxxxxxxxxx, Xxx Xxxxxxxxx 00000, and U.S. BANK NATIONAL ASSOCIATION (as successor to Wachovia Bank, National Association, and by merger to First Union National Bank, formerly known as First Fidelity Bank, National Association, New Jersey, successor in trust to Bank of New England, National Association (formerly known as New England Merchants National Bank) and to New Bank of New England, National Association), said U.S. BANK NATIONAL ASSOCIATION being a national banking association duly organized and existing under the laws of the United States of America having a corporate trust office at 00 Xxxxx Xxxxxx, Xxxxx Xxxxx, Xxxxxxxxxx, Xxx Xxxxxx 00000 and duly authorized to execute the trusts hereof (with its successors in trust, the “Trustee”), as trustee under the General and Refunding Mortgage Indenture, dated August 15, 1978 (as heretofore amended, including as amended and restated on June 1, 2011, being hereinafter generally called the “Mortgage Indenture” and, together with each and every prior indenture supplemental thereto and each and every other instrument, including this Nineteenth Supplemental Indenture, supplemental to the Mortgage Indenture, as the “Indenture”).

WHEREAS, the Company has previously executed and delivered to the Trustee eighteen supplemental indentures which are part of the Indenture for the purposes recited therein and for the purpose of issuing bonds under the Indenture, the currently outstanding series of which are set forth in the following table:


Supplemental Indenture No.	Dated as of	Series	Series Designation	Principal Amount Authorized	Principal Amount Issued	Principal Amount Outstanding
Twelfth	December 1, 2001	Series I	First Mortgage Bonds (Series I due 2021)*	$89,250,000	$89,250,000	$89,250,000
Twelfth	December 1, 2001	Series J	First Mortgage Bonds (Series J due 2021)*	$89,250,000	$89,250,000	$89,250,000
Twelfth	December 1, 2001	Series K	5.45% First Mortgage Bonds (Series K due 2021)	$108,985,000	$108,985,000	$108,985,000
Thirteenth	July 1, 2004	Series L	5.25% First Mortgage Bonds (Series L, due 2014)	$50,000,000	$50,000,000	$50,000,000
Fourteenth	October 1, 2005	Series M	5.60% First Mortgage Bonds (Series M, due 2035)	$50,000,000	$50,000,000	$50,000,000
Fifteenth	September 1, 2007	Series N	6.15% First Mortgage Bonds (Series N, due 2017)	$70,000,000	$70,000,000	$70,000,000


Sixteenth	May 1, 2008	Series O	6.00% First Mortgage Bonds (Series O, due 2018)	$110.000,000	$110,000.000	$110,000,000
Seventeenth	December 1, 2009	Series P	4.50% First Mortgage Bonds (Series P, due 2019)	$150,000,000	$150,000,000	$150,000,000
Eighteenth	May 1, 2011	Series Q	4.05% First Mortgage Bonds (Series Q, due 2021)	$122,000,000	$122,000,000	$122,000,000
			Total Outstanding Principal Amount:			$839,485,000

These First Mortgage Bonds contain provisions for changes in the interest rate.

WHEREAS, the execution and delivery of this Nineteenth Supplemental Indenture and the issue of not exceeding initially $160,000,000 in aggregate principal amount of the Company’s First Mortgage Bonds, Series R (hereinafter generally referred to as the “Series R Bonds” or the “bonds of Series R”), and other necessary actions have been duly authorized by the Board of Directors of the Company;

WHEREAS, the Company proposes to execute and deliver this Nineteenth Supplemental Indenture (i) to provide for the issue of the bonds of Series R and confirm the lien of the Indenture on the property referred to below, all as permitted by Section 1301 of the Mortgage Indenture and (ii) to provide for the future amendment and restatement of the Mortgage Indenture as provided in Section 1.08 hereof;

WHEREAS, the Company has purchased, constructed or otherwise acquired certain additional property not heretofore specifically described in the Indenture but which is and is intended to be subject to the lien thereof, and proposes specifically to subject such additional property to the lien of the Indenture at this time;

WHEREAS, all acts and things necessary to make the initial issue of the Series R Bonds, when executed by the Company and authenticated by the Trustee and delivered as in the Mortgage Indenture provided, the legal, valid and binding obligations of the Company according to their terms and to make this Nineteenth Supplemental Indenture a legal, valid and binding instrument for the security of the bonds, in accordance with its and their terms, have been done and performed, and the execution and delivery of this Nineteenth Supplemental Indenture has in all respects been duly authorized;

NOW, THEREFORE, in consideration of the premises, and of the acceptance of said Series R Bonds by the holder thereof, and of the sum of $1.00 duly paid by the Trustee to the Company, and of other good and valuable considerations, the receipt whereof is hereby acknowledged, and in confirmation of and supplementing the Mortgage Indenture as previously

supplemented, amended and restated by said eighteen preceding supplemental indentures, and in performance of and compliance with the provisions thereof, said Public Service Company of New Hampshire, by these presents, does give, grant, bargain, sell, transfer, assign, pledge, mortgage and convey unto U.S. Bank National Association, as Trustee, as provided in the Mortgage Indenture, as previously supplemented, amended and restated and as supplemented by this Nineteenth Supplemental Indenture, and its successor or successors in the trust thereby and hereby created, and its and their assigns, (a) all and singular the property, and rights and interests in property, described in the Mortgage Indenture and the eighteen preceding supplemental indentures and thereby conveyed, pledged, assigned, transferred and mortgaged, or intended so to be (said descriptions in said Mortgage Indenture being hereby made a part hereof to the same extent as if set forth herein at length), whether then or now owned or thereafter or hereafter acquired, except such of said properties or interests therein as may have been released or sold or disposed of in whole or in part as permitted by the provisions of the Mortgage Indenture, and (b) also, but without in any way limiting the generality of the foregoing, all the right, title and interest of the Company, now owned or hereafter acquired, in and to the rights, titles, interests and properties described or referred to in Schedule B hereto attached and hereby made a part hereof as fully as if set forth herein at length, in all cases not specifically reserved, excepted and excluded; the foregoing property, and rights and interests in property, being located in the following listed municipalities in New Hampshire and unincorporated areas in Coös County, New Hampshire, as well as in various municipalities in the States of Maine, Vermont and elsewhere:

XXXXXXX COUNTY — Alton, Barnstead, Belmont, Center Harbor, Gilford, Gilmanton, Laconia, Meredith, New Xxxxxxx, Sanbornton, Tilton;

XXXXXXX COUNTY — Albany, Brookfield, Chatham, Conway, Eaton, Effingham, Freedom, Madison, Moultonboro, Ossipee, Sandwich, Tamworth, Tuftonboro, Wakefield, Wolfeboro;

CHESHIRE COUNTY — Alstead, Chesterfield, Dublin, Fitzwilliam, Gilsum, Harrisville, Hinsdale, Jaffrey, Keene, Marlborough, Marlow, Nelson, Richmond, Rindge, Roxbury, Stoddard, Sullivan, Surry, Xxxxxxx, Xxxx, Xxxxxxxxxxxx, Winchester;

COÖS COUNTY — Xxxx’x Xxxxx, Berlin, Cambridge, Xxxxxxx, Xxxxxxxx’x Purchase, Clarksville, Colebrook, Columbia, Xxxxxxxx’x Purchase, Xxxxxx, Xxxxxx, Xxxxx, Xxxxxx, Xxxxx’x Xxxxx, Jefferson, Lancaster, Xxxxxx’x Location, Milan, Millsfield, Northumberland, Xxxxxxx’x Xxxxx, Pittsburg, Xxxxxxxx, Shelburne, Stark, Stewartstown, Stratford, Success, Xxxxxxxx & Xxxxxxx’x Purchase, Wentworth’s Location, Whitefield;

GRAFTON COUNTY — Alexandria, Ashland, Bath, Bethlehem, Bridgewater, Bristol, Campton, Easton, Enfield, Franconia, Grafton, Hanover, Haverhill, Hebron, Holderness, Landaff, Lincoln, Lisbon, Littleton, Lyman, Lyme, Orange, Orford, Piermont, Plymouth, Rumney, Sugar Hill, Thornton, Woodstock;

HILLSBOROUGH COUNTY — Amherst, Antrim, Bedford, Bennington, Brookline, Deering, Francestown, Goffstown, Greenfield, Greenville, Xxxxxxx, Hillsborough, Hollis, Hudson, Litchfield, Lyndeborough, Manchester, Xxxxx, Merrimack, Milford, Mont Xxxxxx,

Nashua, New Boston, New Ipswich, Pelham, Peterborough, Sharon, Temple, Xxxxx, Xxxxxx, Windsor;

MERRIMACK COUNTY — Allenstown, Andover, Boscawen, Bow, Bradford, Canterbury, Chichester, Concord, Danbury, Dunbarton, Epsom, Franklin, Henniker, Hill, Hooksett, Hopkinton, Loudon, Newbury, New London, Northfield, Pembroke, Pittsfield, Salisbury, Sutton, Warner, Webster, Wilmot;

ROCKINGHAM COUNTY — Auburn, Xxxxxxxx, Brentwood, Xxxxxx, Xxxxxxx, Danville, Deerfield, Derry, East Kingston, Epping, Exeter, Fremont, Greenland, Hampstead, Hampton, Hampton Falls, Kensington, Kingston, Londonderry, New Castle, Newfields, Newington, Newmarket, Xxxxxx, North Hampton, Northwood, Nottingham, Portsmouth, Raymond, Rye, Sandown, Seabrook, South Hampton, Stratham, Windham;

STRAFFORD COUNTY — Barrington, Dover, Durham, Farmington, Xxx, Madbury, Xxxxxxxxx, Xxxxxx, New Xxxxxx, Rochester, Rollinsford, Somersworth, Strafford;

XXXXXXXX COUNTY — Charlestown, Claremont, Cornish, Croydon, Goshen, Xxxxxxxx, Lempster, Newport, North Charleston, Plainfield, Springfield, Sunapee, Unity, Washington;

SUBJECT, HOWEVER, as to all of the foregoing, to the specific rights, privileges, liens, encumbrances, restrictions, conditions, limitations, covenants, interests, reservations, exceptions and otherwise as provided in the Mortgage Indenture, and in the descriptions in the schedules thereto and hereto and in the deeds or grants in said schedules referred to;

BUT SPECIFICALLY RESERVING, EXCEPTING AND EXCLUDING (as the same are reserved, excepted and excluded from the lien of the Mortgage Indenture) from this instrument and the grant, conveyance, mortgage, transfer and assignment herein contained, all right, title and interest of the Company, now owned or hereafter acquired, in and to the properties and rights specified in subclauses (a) to (m), both inclusive, of the paragraph beginning “BUT SPECIFICALLY RESERVING, EXCEPTING AND EXCLUDING...” which paragraph is part of the granting clauses of the Mortgage Indenture;

TO HAVE AND TO HOLD all said plant, premises, property, franchises and rights hereby conveyed, assigned, pledged or mortgaged, or intended so to be, unto the Trustee, its successor or successors in trust, and to its and their assigns forever;

BUT IN TRUST, NEVERTHELESS, with power of sale, for the equal pro rata benefit, security and protection of the owners of the bonds without any preference, priority or distinction whatever of any one bond over any other bond by reason of priority in the issue, sale or negotiation thereof, or otherwise;

PROVIDED, HOWEVER, and these presents are upon the condition, that if the Company shall pay or cause to be paid or make appropriate provision for the payment unto the holders of the bonds of the principal, premium, if any, and interest to become due thereon at the times and in the manner stipulated therein, and shall keep, perform and observe all and singular

the covenants, agreements and provisions in the Indenture expressed to be kept, performed and observed by or on the part of the Company, then the Indenture and the estate and rights thereby and hereby granted shall, pursuant and subject to the provisions of Article 8 of the Mortgage Indenture, cease, determine and be void, but otherwise shall be and remain in full force and effect.

AND IT IS HEREBY COVENANTED, DECLARED AND AGREED, upon the trusts and for the purposes aforesaid, as set forth in the following covenants, agreements, conditions and provisions, viz.:

ARTICLE 1
SERIES R BONDS

SECTION 1.01. Designation; Amount. The bonds of Series R shall be designated “First Mortgage Bonds, Series R, due 2021” and shall initially be authenticated in the aggregate principal amount of One Hundred Sixty Million Dollars ($160,000,000). The initial issue of the bonds of Series R may be effected upon compliance with the applicable provisions of the Mortgage Indenture. Additional bonds of Series R, without limitation as to amount, having the same terms and conditions as the bonds of Series R (except for the date of original issuance, the initial interest payment date and the offering price) may also be issued by the Company without the consent of the holders of the bonds of Series R, pursuant to a separate supplemental indenture related thereto. Such additional bonds of Series R shall be part of the same series as the bonds of Series R. The Trustee shall authenticate and deliver such additional bonds of Series R at any time upon application by the Company and compliance with the applicable provisions of the Indenture .

SECTION 1.02. Form of Series R Bonds; Global Security; Depository for Global Securities. The Series R Bonds shall be issued only in fully registered form without coupons in denominations of One Thousand Dollars ($1,000.00) and multiples thereof.

The Series R Bonds shall be initially represented by one or more global securities (the “Global Securities”). Each Global Security will be deposited with, or on behalf of, The Depository Trust Company, as depository (“DTC”), and registered in the name of Cede & Co., a nominee of DTC.

The Series R Bonds shall be in substantially the form set forth in Schedule A attached hereto. The terms of the Series R Bonds contained in such form are hereby incorporated herein by reference as though fully set forth in this place and are made a part of this Nineteenth Supplemental Indenture.

SECTION 1.03. Provisions of Series R Bonds; Interest Accrual. The Series R Bonds shall mature on September 1, 2021 and shall bear interest at the rate of 3.20% per year, payable semiannually in arrears on March 1 and September 1 of each year (each, an “Interest Payment Date”) (with the first Interest Payment Date to be March 1, 2012), with the final Interest Payment Date being September 1, 2021 until the Company’s obligation in respect of the principal thereof shall be discharged, and at the rate of 3.20% per annum on any overdue principal and premium

and on any overdue installment of interest. The Series R Bonds shall be dated the date of authentication thereof by the Trustee and shall bear interest on the principal amount from, and including, the date of original issuance to, and excluding, the first Interest Payment Date and then from, and including, the immediately preceding Interest Payment Date to which interest has been paid or duly provided for to, but excluding, the next Interest Payment Date or the maturity date, as the case may be. Interest on the Series R Bonds will be computed on the basis of 360-day year of twelve 30-day months and, with respect to any period less than a full month, on the basis of actual number of days elapsed in such period. For example, the interest for a period running from the 15^th day of one month to the 15^th day of the next month would be calculated on the basis of one 30-day month.

The Series R Bonds shall be payable both as to principal and interest at the corporate trust office of the Trustee at U.S. Bank National Association in Morristown, New Jersey or the corporate trust office of its successors, in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. The interest on the Series R Bonds shall be payable without presentation, and only to or upon the person in whose name the Series R Bonds are registered at the close of business on the business day prior to each Interest Payment Date. The Series R Bonds shall be callable for redemption in whole or in part according to the terms and provisions provided in Section 1.05 below.

The Company has initially designated DTC as the depository for the Series R Bonds. For as long as the Series R Bonds or any portion thereof are in the form of a Global Security, and notwithstanding the previous paragraph, all payments of interest, principal and other amounts in respect of the Series R Bonds shall be made to DTC or its nominee in accordance with its applicable policies and procedures, in the coin or currency specified above. So long as the Series R Bonds are in the form of a Global Security, neither the Company nor the Trustee shall have any responsibility with respect to the policies and procedures of DTC, or any successor depository, or for any notices or other communications among DTC, its direct and indirect participants or beneficial owners of the Series R Bonds.

SECTION 1.04. Transfer and Exchange of Series R Bonds. So long as the Series R Bonds are in the form of Global Securities, the Series R Bonds may not be transferred except as a whole (1) by DTC to a nominee of DTC or (2) by a nominee of DTC to DTC or another nominee of DTC or (3) by DTC or any such nominee to a successor of DTC or a nominee of such successor. If (1) DTC is at any time unwilling or unable to continue as depository and a successor depository is not appointed by the Company within ninety days or (2) there shall have occurred and be continuing after any applicable grace periods an Event of Default under the Indenture with respect to the Series R Bonds represented by such Global Security, the Company will issue certificated Series R Bonds in definitive registered form in exchange for the Global Securities.

The Company may at any time and in its sole discretion determine not to have any Series R Bonds in registered form represented by one or more Global Securities and, in such event, will issue certificated bonds in definitive form in exchange for the Global Securities representing the Series R Bonds. In any such instance, an owner of a beneficial interest in the Global Securities will be entitled to physical delivery in definitive form of certificated bonds

represented by the Global Securities equal in principal amount to such beneficial interest and to have such certificated bonds registered in its name.

In the event certificated bonds are issued in exchange for the Global Securities, the Series R Bonds may be surrendered for registration of transfer as provided in Section 305 of the Indenture at the corporate trust office of the Trustee at U.S. Bank National Association in Morristown, New Jersey or the corporate trust offices of its successors, and may be surrendered at said office for exchange for a like aggregate principal amount of Series R Bonds of other authorized denominations. No charge, except for taxes or other governmental charges, shall be made by the Company for any registration of transfer of Series R Bonds or for the exchange of any Series R Bonds for such bonds of other authorized denominations.

SECTION 1.05. Redemption of the Series R Bonds. The Series R Bonds are subject to redemption, in whole or in part, at the option of the Company at any time. If the Company elects to redeem the Series R Bonds prior to June 1, 2021, it will do so at a redemption price equal to the greater of (x) one hundred percent (100%) of the principal amount of the Series R Bonds being redeemed, plus accrued interest thereon to the redemption date, or (y) as determined by the Quotation Agent, the sum of the present value of the remaining scheduled payments of principal and interest on the Series R Bonds to be redeemed (not including any portion of payments of interest accrued as of the redemption date) discounted to the redemption date on a semi-annual basis at the Adjusted Treasury Rate plus twenty (20) basis points, plus accrued interest to the redemption date. If the Company elects to redeem the Series R Bonds on or after June 1, 2021, it will do so at a redemption price equal to one hundred percent (100%) of the principal amount of the Series R Bonds being redeemed, plus accrued interest thereon to the redemption date. The redemption price will be calculated assuming a 360-day year consisting of twelve 30-day months.

The Company shall notify the Trustee in writing, not less than forty (40) days, or such shorter period as shall be acceptable to the Trustee, of any such election to redeem. Such notice shall include the amount of Series R Bonds to be redeemed, the redemption date and the redemption price.

“Adjusted Treasury Rate” means, with respect to any redemption date, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that redemption date.

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Series R Bonds that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Series R Bonds.

fewer than four Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received.

“Quotation Agent” means the Reference Treasury Dealer appointed by the Company.

“Reference Treasury Dealer” means a primary U.S. Government securities dealer in New York, New York selected by the Company.

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding that redemption date.

Notice of any redemption will be provided at least 30 days but not more than 60 days before the redemption date to each holder of the Series R Bonds to be redeemed (which notice may be made subject to the deposit of redemption moneys with the Trustee on or before the date fixed for redemption).

Series R Bonds or portions of Series R Bonds to be redeemed become due on the redemption date (unless the redemption notice is conditioned upon the receipt of redemption moneys and such moneys shall not have been so received on or before the date fixed for redemption).Absent a default in payment of the redemption price (in the case of an unconditional notice of redemption), on and after the redemption date, interest will cease to accrue on the Series R Bonds or portions of the Series R Bonds called for redemption.

If less than all of the Series R Bonds are to be redeemed, the Trustee will select the Series R Bonds to be redeemed by a method that the Trustee deems fair and appropriate and which may provide for the selection for the redemption of portions (equal to $1,000 or any multiple thereof) of the principal amount of the Series R Bonds larger than $1,000. Notice of redemption will be mailed, first-class mail postage prepaid, to each holder of Series R Bonds to be redeemed at the holder’s address in the register for the Series R Bonds. If any Series R Bonds are to be redeemed in part only, the notice of redemption that relates to that Series R Bond will state the portion of the principal amount of that Series R Bond to be redeemed. In that case, the Company will issue a new Series R Bond of any authorized denomination, as requested, in an aggregate principal amount equal to the unredeemed portion of such Series R Bond, in the name of the holder upon cancellation of the original Series R Bond. The Series R Bonds are not subject to any sinking fund.

Except as provided in this Section 1.05, the Series R Bonds are not subject to redemption under any provisions of the Indenture.

SECTION 1.06. Effect of Event of Default. If an Event of Default shall have occurred and be continuing, the principal of the Series R Bonds may be declared due and payable in the manner and with the effect provided in the Indenture.

SECTION 1.07. Payment Date Not a Business Day. If any redemption date, any Interest Payment Date or the maturity date for principal, premium or interest with respect to the Series R Bonds shall be (i) a Sunday or a legal holiday, or (ii) a day on which banking institutions are authorized pursuant to law to close and on which the corporate trust offices of the Trustee in Minnesota or New Jersey are not open for business, then the payment thereof may be made on the next succeeding day not a day specified in (i) or (ii) with the same force and effect as if made on the specified payment date and no interest shall accrue for the period after the specified payment date.

SECTION 1.08. Consent to Amendment and Restatement of Mortgage Indenture. Each holder of a Series R Bond, solely by virtue of its acquisition thereof, including as an owner of a book-entry interest therein, shall have and be deemed to have consented, without the need for any further action or consent by such holder, to the amendment and restatement of the Mortgage Indenture in substantially the form set forth in Schedule C appended to the Eighteenth Supplemental Indenture dated as of May 1, 2011.

ARTICLE 2
MISCELLANEOUS PROVISIONS

SECTION 2.01. Recitals. The recitals in this Nineteenth Supplemental Indenture shall be taken as recitals by the Company alone, and shall not be considered as made by or as imposing any obligation or liability upon the Trustee, nor shall the Trustee be held responsible for the legality or validity of this Nineteenth Supplemental Indenture, and the Trustee makes no covenants or representations, and shall not be responsible, as to or for the effect, authorization, execution, delivery or recording of this Nineteenth Supplemental Indenture, except as expressly set forth in the Mortgage Indenture. The Trustee shall not be taken impliedly to waive by this Nineteenth Supplemental Indenture any right it would otherwise have.

SECTION 2.02. Benefits of Nineteenth Supplemental Indenture. Nothing in this Nineteenth Supplemental Indenture, expressed or implied, is intended or shall be construed to confer upon, or give to, any person, firm or corporation, other than the parties hereto and the holders of the Series R Bonds, any right, remedy or claim under or by reason of the Indenture or any covenant, condition or stipulation thereof; and the covenants, stipulations and agreements in the Indenture contained are and shall be for the sole and exclusive benefit of the parties hereto, their successors and assigns, and holders of the bonds.

SECTION 2.03. Effect of Nineteenth Supplemental Indenture. This Nineteenth Supplemental Indenture is executed, shall be construed as and is expressly stated to be an indenture supplemental to the Mortgage Indenture and shall form a part of the Indenture; and the Mortgage Indenture, as supplemented and amended by this Nineteenth Supplemental Indenture, is hereby confirmed and adopted by the Company as its obligation. All terms used in this Nineteenth Supplemental Indenture shall be taken to have the meaning specified in the Mortgage Indenture, except in cases where the context clearly indicates otherwise.

SECTION 2.04. Termination. This Nineteenth Supplemental Indenture shall become void when the Indenture shall be void.

SECTION 2.05. Trust Indenture Act. If and to the extent that any provision of this Nineteenth Supplemental Indenture limits, qualifies or conflicts with any of the applicable provisions of Sections 310 to 317, inclusive, of the Trust Indenture Act of 1939, as amended, such required provision shall control.

SECTION 2.06. Counterparts. This Nineteenth Supplemental Indenture may be simultaneously executed in any number of counterparts, each of which shall be deemed an original; and all said counterparts executed and delivered, each as an original, shall constitute but one and the same instrument, which shall for all purposes be sufficiently evidenced by any such original counterpart.

SECTION 2.07. Notices. Any notice to the Trustee under any provision of this Nineteenth Supplemental Indenture shall be sufficiently given if served personally upon a responsible officer of the Trustee or mailed by registered or certified mail, postage prepaid, addressed to the Trustee at its corporate trust office, which is U.S. Bank National Association, 00 Xxxxx Xxxxxx, Xxxxx Xxxxx, Xxxxxxxxxx, Xxx Xxxxxx 00000 as of the date hereof. The Trustee shall notify the Company from time to time of any change in the address of its corporate trust office.

SECTION 2.08. Definitions. Except to the extent otherwise defined herein, the use of the terms and expressions herein is in accordance with the definitions, uses and construction contained in the Mortgage Indenture and the form of Series R Bond attached hereto as Schedule A.

[The remainder of this page left blank intentionally.]

IN WITNESS WHEREOF, PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE has caused this instrument to be executed and its corporate seal to be hereto affixed, by its officers, thereunto duly authorized, and U.S. BANK NATIONAL ASSOCIATION has caused this instrument to be executed by its officers thereunto duly authorized, all as of the day and year first above written but actually executed on September 8, 2011.

PUBLIC SERVICE COMPANY

OF NEW HAMPSHIRE

By:

/S/ XXXXX X. XXXXX

Xxxxx X. Xxxxx

Vice President and Treasurer

CORPORATE SEAL

Attest:

/S/ O. XXX XXXXXXXX

O. Xxx Xxxxxxxx

Assistant Secretary

Signed, sealed and delivered by
Public Service Company of New
Hampshire in the presence of us:

/S/ XXXXXXX XXXXXX

Witnesses


STATE OF CONNECTICUT	)
	)	ss: Hartford
COUNTY OF HARTFORD	)

Then personally appeared before me Xxxxx X. Xxxxx, Vice President and Treasurer, and O. Xxx Xxxxxxxx, Assistant Secretary, of Public Service Company of New Hampshire, a New Hampshire corporation, and severally acknowledged the foregoing instrument to be their free act and deed in their said capacities and the free act and deed of said corporation.

Witness my hand and notarial seal this 8th day of September, 2011, at Hartford, Connecticut.


	Name: /S/ XXXXXXX X. XXXXXX
	Notary Public
	My Commission Expires AUG. 31, 2014

(Notarial Seal)


	U.S. BANK NATIONAL ASSOCIATION as Trustee as aforesaid



	By: /S/ XXXXXXXXX XXXXX Xxxxxxxxx Xxxxx Vice President

Attest:

//S/ XXXXXX XXXXXX

Name: Xxxxxx Xxxxxx

Title: Vice President

Signed and delivered by
U.S. Bank National Association

in the presence of us:

/S/ XXXX X’XXXXX

/S/ XXXX XXXXXX

Witnesses


STATE OF NEW JERSEY	)
	)	ss: Morristown
COUNTY OF XXXXXX	)

Then personally appeared before me Xxxxxxxxx Xxxxx, Vice President of U.S. Bank National Association, a national banking association, and acknowledged the foregoing instrument to be her free act and deed in her said capacity and the free act and deed of said association.

Witness my hand and notarial seal this 7th day of September, 2011, at Morristown, New Jersey.


	Name: /S/ XXXXXXXX X. XXXX
	Notary Public
	My Commission Expires 04/13/2012

(Notarial Seal)

SCHEDULE A
[FORM OF FACE OF SERIES R BONDS]

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND HEREIN, AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.

Unless this Global Security is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to Public Service Company of New Hampshire or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE

FIRST MORTGAGE BOND, SERIES R

PRINCIPAL DUE SEPTEMBER 1, 2021

CUSIP No. 744538 AC3

No. 1

$160,000,000

FOR VALUE RECEIVED, PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE, a corporation organized and existing under the laws of the State of New Hampshire (hereinafter called the “Company”, which term includes any successor corporation under the Indenture), hereby promises to pay to Cede & Co., or registered assigns, subject to the conditions set forth herein, the principal sum of One Hundred Sixty Million Dollars ($160,000,000), on September 1, 2021, and to pay interest on said sum semiannually in arrears, on March 1 and September 1 in each year (each, an “Interest Payment Date”) with the first Interest Payment Date being March 1, 2012, and the final Interest Payment Date being September 1, 2021, at the rate of 3.20% per annum, until the Company’s obligation with respect to said principal sum shall be paid or made available for payment, and at the rate of 3.20% per annum on any overdue principal and premium and on any overdue installment of interest.

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This Series R Bond shall bear interest as aforesaid from, and including, the date of original issuance to, and excluding, the first Interest Payment Date and then from, and including, the immediately preceding Interest Payment Date to which interest has been paid or duly provided for to, but excluding, the next Interest Payment Date or the maturity date, as the case may be. The amount of interest payable will be computed on the basis of a 360-day year consisting of twelve 30-day months and, with respect to any period less than a full month, on the basis of actual number of days elapsed in such period. For example, the interest for a period running from the 15^th day of one month to the 15^th day of the next month would be calculated on the basis of one 30-day month.

In any case where any Interest Payment Date, the maturity date or any redemption date is not a Business Day, then payment of principal and interest, if any, or principal and premium, if any, payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay), in each case with the same force and effect as if made on such date. A “Business Day” shall mean any day, except a (i) Sunday or a legal holiday, or (ii) a day on which banking institutions are authorized pursuant to law to close and on which the corporate trust offices of the Trustee in Minnesota or New Jersey are not open for business.

Payment of the principal of and any interest on this Series R Bond will be made at the corporate trust office of the Trustee at U.S. Bank National Association in Morristown, New Jersey or the corporate trust office of its successors, in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. The interest on this Series R Bond shall be payable without presentation, and only to or upon the person in whose name the Series R Bonds are registered at the close of business on the Business Day prior to each Interest Payment Date.

Reference is hereby made to the further provisions of this Series R Bond set forth on the reverse hereof, including without limitation provisions in regard to the redemption and the registration of transfer and exchangeability of this Series R Bond, and such further provisions shall for all purposes have the same effect as though fully set forth in this place.

As set forth in the Supplemental Indenture establishing the terms and series of the Bonds of this series, each holder of a Series R Bond, solely by virtue of its acquisition thereof, including as an owner of a book-entry interest therein, shall have and be deemed to have consented, without the need for any further action or consent by such holder, to the amendment and restatement of the Mortgage Indenture in substantially the form set forth in Schedule C appended to the Eighteenth Supplemental Indenture dated as of May 1, 2011.

This Series R Bond shall not become or be valid or obligatory until the certificate of authentication hereon shall have been signed by U.S. Bank National Association (hereinafter with its successors as defined in the Indenture (as defined on the reverse hereof), generally called the Trustee), or by such a successor.

[The remainder of this page left blank intentionally.]

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IN WITNESS WHEREOF, Public Service Company of New Hampshire has caused this Series R Bond to be executed in its corporate name and on its behalf by its Vice President and Treasurer by his signature or a facsimile thereof, and its corporate seal to be affixed or imprinted hereon and attested by the manual or facsimile signature of its Assistant Secretary.

Dated as of ___________, 2011

PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE

By:

Xxxxx X. Xxxxx

Vice President and Treasurer

Attest:

Name

Title:

[FORM OF TRUSTEE’S CERTIFICATE]

U.S. Bank National Association hereby certifies that this Series R Bond is one of the bonds described in the within mentioned Indenture.

U.S. BANK NATIONAL ASSOCIATION,

TRUSTEE

By:

Name:

Title: Authorized Signatory

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[FORM OF REVERSE OF SERIES R BOND]
PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE
First Mortgage Bond, Series R, due September 1, 2021

This Series R Bond is one of a series of bonds known as the “First Mortgage Bonds, Series R” of the Company, initially limited to One Hundred Sixty Million Dollars ($160,000,000) in aggregate principal amount, and issued under and pursuant to a First Mortgage Indenture between the Company and U.S. Bank National Association as successor to Wachovia Bank, National Association and by merger to First Union National Bank, formerly known as First Fidelity Bank, National Association, New Jersey, successor to Bank of New England, National Association (formerly known as New England Merchants National Bank), and to New Bank of New England, National Association, as Trustee, dated as of August 15, 1978, as amended, and pursuant to which U.S. Bank National Association is now Successor Trustee (said First Mortgage Indenture as amended and restated on June 1, 2011, being hereinafter generally called the “Mortgage Indenture” and, together with each and every prior indenture supplemental thereto and each and every other instrument, including the Nineteenth Supplemental Indenture, dated as of September 1, 2011, supplemental to the Mortgage Indenture, as the “Indenture”) and together with all bonds of all series now outstanding or hereafter issued under the Indenture being equally and ratably secured (except as any sinking or other analogous fund, established in accordance with the provisions of the Indenture, may afford additional security for the bonds of any particular series) by the Indenture, to which Indenture (executed counterparts of which are on file at the corporate trust office of the Trustee in Morristown, New Jersey) reference is hereby made for a description of the nature and extent of the security, the rights thereunder of the holders of bonds issued and to be issued thereunder, the rights, duties and immunities thereunder of the Trustee, the rights and obligations thereunder of the Company, and the terms and conditions upon which Bonds of this series, and bonds of other series, are issued and are to be issued; but neither the foregoing reference to the Indenture nor any provision of this Series R Bond or of the Indenture shall affect or impair the obligation of the Company, which is absolute, unconditional and unalterable, to pay at the maturities herein provided the principal of and interest on this Series R Bond as herein provided.

The Series R Bonds shall be initially issued in the form of one or more global securities (the “Global Securities”). Each Global Security will be deposited with, or on behalf of, DTC and registered in the name of Cede & Co., a nominee of DTC. For as long as this Series R Bond or any portion hereof is in the form of a Global Security, and notwithstanding anything else contained in this Series R Bond, all payments of interest, principal and other amounts in respect of this Series R Bond shall be made to DTC or its nominee in accordance with its applicable policies and procedures, in the coin or currency specified above.

In the event certificated bonds in definitive form are issued in exchange for the Global Securities they are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple thereof.

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The Series R Bonds, while in the form of Global Securities, may not be transferred except as a whole (1) by DTC to a nominee of DTC or (2) by a nominee of DTC to DTC or another nominee of DTC or (3) by DTC or any such nominee to a successor of DTC or a nominee of such successor. If (1) DTC is at any time unwilling or unable to continue as depository and a successor depository is not appointed by the Company within ninety days or (2) there shall have occurred and be continuing after any applicable grace periods an Event of Default under the Indenture with respect to the Series R Bonds represented by such Global Security, the Company will issue certificated bonds in definitive registered form in exchange for the Global Securities representing the Series R Bonds.

In the event certificated bonds are issued in exchange for the Global Securities, the Series R Bonds may be surrendered for registration of transfer as provided in Section 305 of the Mortgage Indenture at the corporate trust office of the Trustee at U.S. Bank National Association in Morristown, New Jersey or the corporate trust offices of its successors, and may be surrendered at said office for exchange for a like aggregate principal amount of Series R Bonds of other authorized denominations. No charge, except for taxes or other governmental charges, shall be made by the Company for any registration of transfer of Series R Bonds or for the exchange of any Series R Bonds for such bonds of other authorized denominations.

Prior to due presentment for registration of transfer of this Bond, the Company and the Trustee may deem and treat the registered owner hereof as the absolute owner hereof, whether or not such Series R Bond shall be overdue, for the purpose of receiving payment and for all other purposes, and neither the Company nor the Trustee shall be affected by any notice to the contrary. Neither the failure to give any notice nor any defect in any notice given to the holder of the Global Securities or Series R Bonds not represented by a Global Security, will affect the sufficiency of any notice given to any other holder.

The Series R Bonds are subject to redemption, in whole or in part, at the option of the Company at any time. If the Company elects to redeem the Series R Bonds prior to June 1, 2021, it will do so at a redemption price equal to the greater of (x) one hundred percent (100%) of the principal amount of the Series R Bonds being redeemed, plus accrued interest thereon to the redemption date, or (y) as determined by the Quotation Agent, the sum of the present value of the remaining scheduled payments of principal and interest on the Series R Bonds to be redeemed (not including any portion of payments of interest accrued as of the redemption date) discounted to the redemption date on a semi-annual basis at the Adjusted Treasury Rate plus twenty (20) basis points, plus accrued interest to the redemption date. If the Company elects to redeem the Series R Bonds on or after June 1, 2021, it will do so at a redemption price equal to one hundred percent (100%) of the principal amount of the Series R Bonds being redeemed, plus

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accrued interest thereon to the redemption date. The redemption price will be calculated assuming a 360-day year consisting of twelve 30-day months.

“Comparable Treasury Price” means, with respect to any redemption date: (i) the average of the Reference Treasury Dealer Quotations for that redemption date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than four Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received.

“Quotation Agent” means the Reference Treasury Dealer appointed by the Company.

“Reference Treasury Dealer” means a primary U.S. Government securities dealer in New York, New York selected by the Company.

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unconditional notice of redemption), on and after the redemption date, interest will cease to accrue on the Series R Bonds or portions of the Series R Bonds called for redemption.

If less than all of the Series R Bonds are to be redeemed, the Trustee will select the Series R Bonds to be redeemed by a method that the Trustee deems fair and appropriate and which may provide for the selection for the redemption of portions (equal to $1,000 or any multiple thereof) of the principal amount of the Series R Bonds larger than $1,000. Notice of redemption will be mailed, first-class mail postage prepaid, to each holder of Series R Bonds to be redeemed at the holder’s address in the register for the Series R Bonds. If any Series R Bonds are to be redeemed in part only, the notice of redemption that relates to that Series R Bond will state the portion of the principal amount of that Series R Bond to be redeemed. In that case, the Company will issue new Series R Bonds of any authorized denomination, as requested, in an aggregate principal amount equal to the unredeemed portion of such Series R Bond, in the name of the holder upon cancellation of the original Series R Bond.

The Series R Bonds are not subject to any sinking fund.

If the Series R Bonds are called in whole or in part, and if moneys have been duly deposited or otherwise made available to the Trustee for redemption hereof, or of the part hereof so called, as required in the Indenture, this Series R Bond or such called part hereof, shall be due and payable on the date fixed for redemption and thereafter this Series R Bond, or such called part hereof, shall cease to bear interest on the date fixed for redemption and shall cease to be entitled to the lien of the Indenture, and, as respects the Company’s liability hereon, this Series R Bond, or such called part hereof, shall be deemed to have been paid; but, if less than the whole principal amount hereof shall be so called, the holder hereof shall be entitled, in addition to the sums payable on account of the part called, to receive, without expense to such holder, upon surrender hereof, one or more Series R Bonds of this series for an aggregate principal amount equal to that part of the principal amount hereof not then called and paid.

If an Event of Default shall have occurred and be continuing, the principal of the Series R Bonds may be declared due and payable in the manner and with the effect provided in the Indenture.

The Indenture contains provisions permitting the Company and the Trustee to effect, by supplemental indenture, certain modifications of the Indenture without any consent of the holders of the bonds, and to effect certain other modifications of the Indenture, and of the rights of the holders of the bonds, with the consent of the holders of not less than a majority in aggregate principal amount of all bonds issued under the Indenture at the time outstanding, or in case one or more, but less than all, of the Series of said bonds then outstanding are affected, with the consent of the holders of not less than a majority in aggregate principal amount of said outstanding bonds of each Series affected.

No reference herein to the Indenture and no provision herein or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest, including overdue interest, on this Series R Bond at the time, place and rate, and in the coin or currency, herein prescribed.

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No recourse shall be had for the payment of the principal of or premium, if any, or interest on this Series R Bond, or for any claim based hereon, or otherwise in respect hereof or of the Indenture, to or against any incorporator or against any stockholder, director or officer, past, present or future, as such, of the Company or any affiliate of the Company, or of any predecessor or successor company, either directly or through the Company, or such predecessor or successor company or any trustee, receiver or assignee or otherwise, under any constitution, or statute or rule of law, or by the enforcement of any assessment or penalty, or otherwise, all such liability of incorporators, stockholders, directors or officers, as such, being waived and released by the holder and owner hereof by the acceptance of this Series R Bond and as part of the consideration for the issuance hereof and being likewise waived and released by the terms of the Indenture.

[END OF FORM OF REVERSE OF SERIES R BOND]

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SCHEDULE B

Description of Certain Properties
Acquired
Since May 1, 2011

No real property interests acquired in fee simple in the States of New Hampshire, Vermont and Maine since May 1, 2011.

B-1

ENDORSEMENT

U.S. Bank National Association, Trustee, being the mortgagee in the foregoing Supplemental Indenture, hereby consents to the cutting of any timber standing upon any of the lands covered by said Supplemental Indenture and to the sale of any such timber so cut and of any personal property covered by said Supplemental Indenture to the extent, but only to the extent, that such sale is permitted under the provisions of the Mortgage Indenture as supplemented by the Nineteenth Supplemental Indenture dated as of September 1, 2011.

U.S. BANK NATIONAL ASSOCIATION,
as Trustee as aforesaid

By:/S/ XXXXXXXXX XXXXX

Xxxxxxxxx Xxxxx

Vice President

Signed and acknowledged
on behalf of U.S. Bank National Association
in the presence of us:

/S/ XXXX X’XXXXX

Xxxx X'Xxxxx, Vice President

/S/ XXXX XXXXXX

Xxxx Xxxxxx, Vice President

Witnesses

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PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND U.S. BANK NATIONAL ASSOCIATION, Successor to WACHOVIA BANK, NATIONAL ASSOCIATION and to FIRST UNION NATIONAL BANK Formerly Known as FIRST FIDELITY BANK, NATIONAL ASSOCIATION, NEW JERSEY Successor to BANK OF...

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