LETTER OF CREDIT AGREEMENT dated as of April 29, 2011 among KENTUCKY UTILITIES COMPANY, THE LENDERS FROM TIME TO TIME PARTY HERETO and BANCO BILBAO VIZCAYA ARGENTARIA, S.A., NEW YORK BRANCH, as Administrative AgentLetter of Credit Agreement • May 2nd, 2011 • PPL Corp • Electric services • New York
TABLE OF CONTENTS Page ARTICLE I DEFINITIONS 1 Section 1.01. Definitions 1 ARTICLE II THE CREDITS 13 Section 2.01. Commitments 13 Section 2.02. Noteless Agreement; Evidence of Indebtedness 13 Section 2.03. Fees 13 Section 2.04. Adjustments of Commitments 14 Section 2.05. Mandatory Prepayments 16 Section 2.06. General Provisions as to Payments 16 Section 2.07. Computation of Interest and Fees 17 Section 2.08. Increased Cost and Reduced Return 17 Section 2.09. Taxes 18 Section 2.10. Defaulting Lenders. 21 ARTICLE III LETTERS OF CREDIT 23 Section 3.01. Issuing Lenders; Reimbursement Agreement 23 Section 3.02. Letters of Credit 23 Section 3.03. Method of Issuance of Letters of Credit 23 Section 3.04. Conditions to Issuance of Letters of Credit 23 Section 3.05. Purchase and Sale of Letter of Credit Participations 24 Section 3.06. Drawings under Letters of Credit 24 Section 3.07. Reimbursement Obligations 24 Section 3.08. Duties of Issuing Lenders to Lenders; Reliance 25 Section 3.09. Obliga
