BERKSHIRE GUARANTY AGREEMENT (P1)Berkshire Guaranty Agreement • May 28th, 2009 • Oglethorpe Power Corp • Electric services • New York
WHEREAS, pursuant to a Participation Agreement (P1), dated as of December 30, 1996 (the “Participation Agreement”), by and among Oglethorpe, Rocky Mountain Leasing Corporation (“RMLC”), U.S. Bank National Association, successor to SunTrust Bank, Atlanta (the “Facility Lessor”), U.S. Bank National Association, successor to Fleet National Bank (the “Owner Trustee”), Philip Morris Capital Corporation (the “Owner Participant”) and Utrecht-America Finance Co. (the “Lender”), (i) Oglethorpe has leased an undivided interest in its interest as tenant-in-common in the Facility to the Facility Lessor pursuant to the Head Lease, (ii) the Facility Lessor has leased such undivided interest in the Facility to RMLC pursuant to the Facility Lease, (iii) RMLC has leased such undivided interest in the Facility to Oglethorpe pursuant to the Facility Sublease, (iv) Oglethorpe has leased an undivided interest in its interest as a tenant-in-common in the Rocky Mountain Site to the Facility Lessor pursuant t
