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200410978 Mortgage Bonds, Collateral (2004) Series A to be payable on the Revolving Credit Maturity Date; the unpaid principal amount of the First Mortgage Bonds, Collateral (2004) Series A shall bear interest (i) with respect to the portion or amount of such principal that is equal to the principal amount of Revolving Loans, at one or more variable interest rates per annum which rate or rates for each day shall be equal to the rate or rates per annum borne by Revolving Loans in accordance with the Credit Agreement for such day (calculated in the manner provided in the Credit Agreement for the calculation of interest on Revolving Loans), payable on each day on which interest is payable on Revolving Loans in accordance with the Credit Agreement (and in an amount equal to the Revolving Credit Applicable Share of the amount of interest that is payable on Revolving Loans on such day in accordance with the Credit Agreement), (ii) with respect to the portion or amount of such principal (in excess of the amount described in the preceding clause (i)) that is equal to the Revolving Credit Applicable Share of the unused Total Revolving Credit Commitments (as defined in the Credit Agreement), at one or more variable interest rates per annum which rate or rates for any day shall be equal to the rate or rates per annum at which commitment fees are payable under the Credit Agreement on the unused Total Revolving Credit Commitments, payable on each day on which commitment fees are payable under the Credit Agreement (and in an amount equal to the Revolving Credit Applicable Share of the amount of commitment fees that is payable under the Credit Agreement on such day), and (iii) with respect to the portion or amount of such principal (in excess of the amounts described in the preceding clauses (i) and (ii)) that is equal to the Revolving Credit Applicable Share of the amount available to be drawn under Letters of Credit (as defined in the Credit Agreement), at one or more variable interest rates per annum which rate or rates for each day shall be equal to the rate or rates per annum at which letter of credit fees are payable under the Credit Agreement on the amount available to be drawn under Letters of Credit, payable on each day on which letter of credit fees are payable under the Credit Agreement (and in an amount equal to the Revolving Credit Applicable Share of the amount of letter of credit fees that is payable under the Credit Agreement on such day), in each case, to the Collateral Agent, as the registered owner, without regard to, or necessity for, any record date; the principal of and interest on each said Bond to be payable at the office or agency of the Company in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts. First Mortgage Bonds, Collateral (2004) Series A shall be dated as provided in Section 3.03(c) of the Original Indenture (as supplemented). SECTION 2. First Mortgage Bonds, Collateral (2004) Series A shall be issued only as registered Bonds without coupons of the denomination of $1,000, or any integral multiple of $1 in excess of $1,000, appropriately numbered. First Mortgage Bonds, Collateral (2004) Series A may be exchanged, upon surrender thereof, at the office or agency of the Company in the Borough of Manhattan, The City of New York, State of New York, for one or more First Mortgage Bonds, Collateral (2004) Series A of other authorized denominations, for the same aggregate principal amount, subject to the terms and conditions set forth in the Indenture. First Mortgage Bonds, Collateral (2004) Series A shall not be transferable except to any successor Collateral Agent under the Collateral Agreement. As a condition NY55/40543 1.7 4