Exhibit 4(l) |
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JPMORGAN CHASE BANK, |
THE BANK OF NEW YORK |
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RECITALS | 1 | |||
ARTICLE | I. | DEFINITIONS | 2 | |
ARTICLE | II. | PLEDGE; CONTROL AND PERFECTION | 5 | |
SECTION | 2.1 | The Pledge | 5 | |
SECTION | 2.2 | Control and Perfection | 7 | |
ARTICLE | III. | DISTRIBUTIONS ON PLEDGED COLLATERAL | 8 | |
ARTICLE | IV. | SUBSTITUTION, RELEASE, REPLEDGE AND SETTLEMENT OF |
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ARTICLE | 4.1 | Substitution for Debentures and the Creation of Treasury Units | 10 | |
SECTION | 4.2 | Substitution of Treasury Securities and the Creation of Corporate Units | 11 | |
SECTION | 4.3 | Termination Event | 12 | |
SECTION | 4.4 | Cash Settlement | 13 | |
SECTION | 4.5 | Early Settlement; Merger Early Settlement | 14 | |
SECTION | 4.6 | Application of Proceeds Settlement | 14 | |
ARTICLE | V. | VOTING RIGHTS - DEBENTURES | 16 | |
ARTICLE | VI. | RIGHTS AND REMEDIES; DISTRIBUTION OF THE |
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SECTION | 6.1 | Rights and Remedies of the Collateral Agent | 17 | |
SECTION | 6.2 | Tax Event Redemption; Remarketing | 18 | |
SECTION | 6.3 | Initial Remarketing | 19 | |
SECTION | 6.4 | Substitutions | 19 | |
ARTICLE | VII. | REPRESENTATIONS AND WARRANTIES; COVENANTS | 20 | |
SECTION | 7.1 | Representations and Warranties | 20 | |
SECTION | 7.2 | Covenants | 21 | |
ARTICLE | VIII. | THE COLLATERAL AGENT | 21 | |
SECTION | 8.1 | Appointment, Powers and Immunities | 21 | |
SECTION | 8.2 | Instructions of the Company | 22 | |
SECTION | 8.3 | Reliance | 22 | |
SECTION | 8.4 | Rights in Other Capacities | 23 | |
SECTION | 8.5 | Non-Reliance | 23 | |
SECTION | 8.6 | Compensation and Indemnity | 23 | |
SECTION | 8.7 | Failure to Act | 24 | |
SECTION | 8.8 | Resignation of Collateral Agent | 24 | |
SECTION | 8.9 | Right to Appoint Agent or Advisor | 25 | |
SECTION | 8.10 | Survival | 25 | |
SECTION | 8.11 | Exculpation | 25 | |
ARTICLE | IX. | AMENDMENT | 26 | |
SECTION | 9.1 | Amendment Without Consent of Holders | 26 | |
SECTION | 9.2 | Amendment with Consent of Holders | 26 | |
SECTION | 9.3 | Execution of Amendments | 27 |
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SECTION | 9.4 | Effect of Amendments | 27 |
SECTION | 9.5 | Reference to Amendments | 28 |
ARTICLE | X | MISCELLANEOUS | 28 |
SECTION | 10.1 | No Waiver | 28 |
SECTION | 10.2 | Governing Law | 28 |
SECTION | 10.3 | Notices | 29 |
SECTION | 10.4 | Successors and Assigns | 29 |
SECTION | 10.5 | Counterparts | 29 |
SECTION | 10.6 | Severability | 29 |
SECTION | 10.7 | Expenses, etc. | 29 |
SECTION | 10.8 | Security Interest Absolute | 30 |
EXHIBIT | A | Instruction From Purchase Contract Agent To Collateral Agent | A-1 |
EXHIBIT | B | Instruction To Purchase Contract Agent | B-1 |
EXHIBIT | C | Instruction To Custodial Agent Regarding Remarketing | C-1 |
EXHIBIT | D | Instruction To Custodial Agent Regarding Withdrawal From |
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PLEDGE AGREEMENT, dated as of February 1, 2002 (this "Agreement"), by and among FPL Group, Inc., a Florida corporation (the "Company"), as pledgee, JPMorgan Chase Bank, not individually but solely as collateral agent (in such capacity, together with its successors in such capacity, the "Collateral Agent"), as custodial agent (in such capacity, together with its successors in such capacity, the "Custodial Agent") and as a "securities intermediary" as defined in Section 8-102(a)(14) of the Code (as defined herein) (in such capacity, together with its successors in such capacity, the "Securities Intermediary"), and The Bank of New York, a New York banking corporation, not individually but solely as purchase contract agent and as attorney-in-fact of the Holders (as defined in the Purchase Contract Agreement (as hereinafter defined)) from time to time of the New Securities (as hereinafter defined) (in such capacity, together with its successors in such capaci ty, the "Purchase Contract Agent") under the Purchase Contract Agreement (terms not otherwise defined herein are used herein with the meaning ascribed to them in the Purchase Contract Agreement). |
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FPL GROUP, INC. | ||||
By: | /s/ Paul I. Cutler | |||
Name: | Paul I. Cutler | |||
Title: | Assistant Treasurer and | |||
Assistant Secretary | ||||
Address for Notices: | ||||
THE BANK OF NEW YORK, | ||||
By: | /s/ Mary LaGumina | |||
Name: | Mary LaGumina | |||
Title: | Vice President | |||
Address for Notices: | ||||
JPMORGAN CHASE BANK | ||||
By: | /s/ L. O'Brien | |||
Name: | L. O'Brien | |||
Title | Vice President | |||
Address for Notices: |
EXHIBIT A | ||||||||||
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Attention: Institutional Trust Services | ||||||||||
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Date: | ||||||||||
By: | ||||||||||
Name: | ||||||||||
Title: | ||||||||||
Signature Guarantee: | ||||||||||
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Name | Social Security or other Taxpayer | |||||||||
EXHIBIT B | ||||||
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Re: Securities of FPL Group, Inc. (the "Company") | ||||||
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Dated: | ||||||
Signature | ||||||
Signature Guarantee: | ||||||
Please print name and address of Registered Holder: | ||||||
Name | Social Security or other Taxpayer | |||||
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EXHIBIT C | |||||||||||||||
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Re: Securities of FPL Group Capital Inc (the "Company") | |||||||||||||||
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Date: | |||||||||||||||
By: | |||||||||||||||
Name: | |||||||||||||||
Title: | |||||||||||||||
Signature Guarantee: | |||||||||||||||
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Name | Social Security or other Taxpayer | ||||||||||||||
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Proceeds of the remarketing should be paid by check in the name of the person(s) set forth below and mailed to the address set forth below. | In the event of a Failed Remarketing, Debentures which are in physical form should be delivered to the person(s) set forth below and mailed to the address set forth below. | ||||||||||||||
Name(s) | Name(s) | ||||||||||||||
(Please Print) | (Please Print) | ||||||||||||||
Address | Address | ||||||||||||||
(Please Print) | (Please Print) | ||||||||||||||
(Zip Code) | (Zip Code) | ||||||||||||||
(Tax Identification or Social | (Tax Identification or Social | ||||||||||||||
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DTC Account Number | |||||||||||||||
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Party: | |||||||||||||||
EXHIBIT D | |||||||||||
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Re: Securities of FPL Group Capital Inc (the "Company") | |||||||||||
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Date: | |||||||||||
By: | |||||||||||
Name: | |||||||||||
Title: | |||||||||||
Signature Guarantee: | |||||||||||
Please print name and address: | |||||||||||
Name | Social Security or other Taxpayer | ||||||||||
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