AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF DUKE ENERGY PROGRESS SC STORM FUNDING LLC Dated and Effective as of [ ], 2024Limited Liability Company Agreement • March 22nd, 2024 • Duke Energy Progress SC Storm Funding LLC • Electric services • Delaware
WHEREAS, the Member has caused to be filed a Certificate of Formation with the Secretary of State of the State of Delaware to form the Company under and pursuant to the LLC Act and has entered into a Limited Liability Company Agreement of the Company, dated as of January 12, 2024 (the “Original LLC Agreement”); and
INDENTURE by and among DUKE ENERGY PROGRESS SC STORM FUNDING LLC, Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION, Securities Intermediary and Account Bank Dated as of [ ], 2024Indenture • March 22nd, 2024 • Duke Energy Progress SC Storm Funding LLC • Electric services • New York
This INDENTURE, dated as of [ ], 2024, is by and among DUKE ENERGY PROGRESS SC STORM FUNDING LLC, a Delaware limited liability company, and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, in its capacity as trustee for the benefit of the Secured Parties and U.S. BANK NATIONAL ASSOCIATION in its capacity as a securities intermediary and account bank.
DUKE ENERGY PROGRESS SC STORM FUNDING LLC $177,365,000 SERIES A SENIOR SECURED STORM RECOVERY BONDS UNDERWRITING AGREEMENTUnderwriting Agreement • March 22nd, 2024 • Duke Energy Progress SC Storm Funding LLC • Electric services • New York
INTERCREDITOR AGREEMENTIntercreditor Agreement • March 22nd, 2024 • Duke Energy Progress SC Storm Funding LLC • Electric services • New York
ADMINISTRATION AGREEMENTAdministration Agreement • March 22nd, 2024 • Duke Energy Progress SC Storm Funding LLC • Electric services • South Carolina
This ADMINISTRATION AGREEMENT, dated as of [ ], 2024, is entered into by and between Duke Energy Progress, LLC, a North Carolina limited liability company (“DEP”), as administrator (the “Administrator”), and Duke Energy Progress SC Storm Funding LLC, a Delaware limited liability company (the “Issuer”).
STORM RECOVERY PROPERTY SERVICING AGREEMENT by and between DUKE ENERGY PROGRESS SC STORM FUNDING LLC, Issuer and DUKE ENERGY PROGRESS, LLC, Servicer Acknowledged and Accepted by U.S. Bank Trust Company, National Association, as Indenture Trustee Dated...Storm Recovery Property Servicing Agreement • March 22nd, 2024 • Duke Energy Progress SC Storm Funding LLC • Electric services • South Carolina
This STORM RECOVERY PROPERTY SERVICING AGREEMENT, dated as of [ ], 2024, is by and between DUKE ENERGY PROGRESS SC STORM FUNDING LLC, a Delaware limited liability company, as Issuer, and DUKE ENERGY PROGRESS, LLC, a North Carolina limited liability company, as Servicer, and acknowledged and accepted by U.S. Bank Trust Company, National Association, a national banking association, as Indenture Trustee.
STORM RECOVERY PROPERTY PURCHASE AND SALE AGREEMENT by and between DUKE ENERGY PROGRESS SC STORM FUNDING LLC, Issuer and Duke Energy Progress, LLC, Seller Acknowledged and Accepted by U.S. Bank Trust Company, National Association, as Indenture Trustee...Storm Recovery Property Purchase and Sale Agreement • March 22nd, 2024 • Duke Energy Progress SC Storm Funding LLC • Electric services • South Carolina
This STORM RECOVERY PROPERTY PURCHASE AND SALE AGREEMENT, dated as of [ ], 2024, is by and between Duke Energy Progress SC Storm Funding LLC, a Delaware limited liability company, and Duke Energy Progress, LLC (the “Seller”), a North Carolina limited liability company, and acknowledged and accepted by U.S. Bank Trust Company, National Association, a national banking association, as indenture trustee.
JOINDER AGREEMENTJoinder Agreement • March 22nd, 2024 • Duke Energy Progress SC Storm Funding LLC • Electric services
Reference is made to that certain Amended and Restated Intercreditor Agreement, dated as of December 20, 2013 (as amended by that amendment No. 1 dated as of August 1, 2023 and as otherwise amended, supplemented or otherwise modified prior to the date hereof, the “Intercreditor Agreement”), by and among Duke Energy Business Services LLC (as successor to Duke Energy Business Services, Inc.), a Delaware limited liability company (“DEBS”), as Receivables Sub-Servicer, Duke Energy Corporate Services Inc., a Delaware corporation (together with DEBS, the “Account Owners” and each, an “Account Owner”), Duke Energy Corporation, a Delaware corporation (the “Parent”), the “Receivables Servicers” from time to time party thereto, the “Creditors” from time to time party thereto, and the “Receivables Purchasers” form time to time party thereto. Each capitalized term used herein and not defined herein shall have the meaning ascribed thereto in the Intercreditor Agreement.
