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200410978 Pursuant to the Collateral Agreement, the Collateral Agent has agreed, upon written request of the Company and so long as no Default or Event of Default described in Section 8(f) of the Credit Agreement shall have occurred and be continuing, to surrender or exchange its First Mortgage Bond, Collateral (2004) Series A or First Mortgage Bonds, Collateral (2004) Series A, from time to time (including, without limitation, promptly following each redemption of First Mortgage Bonds, Collateral (2004) Series A that is deemed to occur (in the case of a Revolving Credit Commitment Redemption or a Revolving Credit Event of Default Commitment Termination Redemption) or that occurs (in the case of an Acceleration Redemption) in accordance with this Supplemental Indenture), so that at all times the Collateral Agent is holding one or more First Mortgage Bonds, Collateral (2004) Series A in an aggregate principal amount equal to, but not in excess of, the Maximum Principal Amount of the First Mortgage Bonds, Collateral (2004) Series A at such time. (IV) It is expressly stated (for the avoidance of any doubt) that, notwithstanding anything herein or in any First Mortgage Bonds, Collateral (2004) Series A to the contrary (other than the provisions of subdivision VI below), each payment of principal of or interest on the First Mortgage Bonds, Collateral (2004) Series A that becomes due and payable on any day in accordance with this Supplemental Indenture (whether by reason of stated due date, acceleration, redemption or otherwise) shall correspond to, and be equal to the Revolving Credit Applicable Share of, a payment of Revolving Credit Obligations that becomes due and payable on such day in accordance with the Credit Agreement. (V) The obligation of the Company to make each payment of principal of or interest on the First Mortgage Bonds, Collateral (2004) Series A that becomes due and payable in accordance with this Supplemental Indenture (A) shall be fully satisfied and discharged if the corresponding payment of the Revolving Credit Obligations shall have been fully paid under and in accordance with the Credit Agreement, and (B) shall be partially satisfied and discharged if the corresponding. payment of the Revolving Credit Obligations shall have been partially paid under and in accordance with the Credit Agreement (such partial satisfaction and discharge with respect to the First Mortgage Bonds, Collateral (2004) Series A to be in an amount equal to the Revolving Credit Applicable Share of the amount of such partial payment with respect to the Revolving Credit Obligations). The Trustee may conclusively presume that the obligation of the Company to make payments with respect to the principal of and interest on the First Mortgage Bonds, Collateral (2004) Series A has been fully satisfied and discharged unless and until the Trustee shall have received a written notice from the Administrative Agent, signed by a person purporting to be its duly authorized officer, stating (i) that the Company has failed to make timely payment in full or in part of an amount of Revolving Credit Obligations which became due and payable in accordance with the Credit Agreement, (ii) the amount and date of such payment of Revolving Credit Obligations which the Company has failed to make in accordance with the Credit Agreement, and (iii) the amount of principal of and/or interest on the First Mortgage Bonds, Collateral (2004) Series A which, in accordance with this Supplemental Indenture, has not been satisfied and discharged by reason of such failure of the Company. The Trustee may conclusively presume the statements contained in any such notice from the NY55/405431.7 9