Exhibit 4(c) |
FPL GROUP, INC.,
JPMORGAN CHASE BANK,
as Collateral Agent, Custodial Agent
and Securities Intermediary,
AND
THE BANK OF NEW YORK,
as Purchase Contract Agent
PLEDGE AGREEMENT
DATED AS OF JUNE 1, 2002
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RECITALS | 1 | |
ARTICLE I. | DEFINITIONS | 2 |
ARTICLE II. | PLEDGE; CONTROL AND PERFECTION | 6 |
SECTION 2.1 | The Pledge | 6 |
SECTION 2.2 | Control and Perfection | 8 |
ARTICLE III. | DISTRIBUTIONS ON PLEDGED COLLATERAL | 9 |
ARTICLE IV. | SUBSTITUTION, RELEASE, REPLEDGE AND SETTLEMENT OF DEBENTURES | 11 |
SECTION 4.1 | Substitution for Debentures and the Creation of Treasury Units | 11 |
SECTION 4.2 | Substitution of Treasury Securities and the Creation of Corporate Units | 12 |
SECTION 4.3 | Termination Event | 13 |
SECTION 4.4 | Cash Settlement | 14 |
SECTION 4.5 | Early Settlement; Merger Early Settlement | 16 |
SECTION 4.6 | Application of Proceeds Settlement | 16 |
ARTICLE V. | VOTING RIGHTS - DEBENTURES | 18 |
ARTICLE VI. | RIGHTS AND REMEDIES; DISTRIBUTION OF THE DEBENTURES; TAX EVENT REDEMPTION; REMARKETING | 19 |
SECTION 6.1 | Rights and Remedies of the Collateral Agent | 19 |
SECTION 6.2 | Tax Event Redemption; Remarketing | 20 |
SECTION 6.3 | Initial Remarketing | 21 |
SECTION 6.4 | Substitutions | 22 |
ARTICLE VII. | REPRESENTATIONS AND WARRANTIES; COVENANTS | 22 |
SECTION 7.1 | Representations and Warranties | 22 |
SECTION 7.2 | Covenants | 23 |
ARTICLE VIII. | THE COLLATERAL AGENT | 23 |
SECTION 8.1 | Appointment, Powers and Immunities | 23 |
SECTION 8.2 | Instructions of the Company | 24 |
SECTION 8.3 | Reliance | 25 |
SECTION 8.4 | Rights in Other Capacities | 25 |
SECTION 8.5 | Non-Reliance | 25 |
SECTION 8.6 | Compensation and Indemnity | 26 |
SECTION 8.7 | Failure to Act | 26 |
SECTION 8.8 | Resignation of Collateral Agent | 27 |
SECTION 8.9 | Right to Appoint Agent or Advisor | 27 |
SECTION 8.10 | Survival | 28 |
SECTION 8.11 | Exculpation | 28 |
ARTICLE IX. | AMENDMENT | 28 |
SECTION 9.1 | Amendment Without Consent of Holders | 28 |
SECTION 9.2 | Amendment with Consent of Holders | 29 |
SECTION 9.3 | Execution of Amendments | 30 |
SECTION 9.4 | Effect of Amendments | 30 |
SECTION 9.5 | Reference to Amendments | 30 |
ARTICLE X. | MISCELLANEOUS | 30 |
SECTION 10.1 | No Waiver | 30 |
SECTION 10.2 | Governing Law | 31 |
SECTION 10.3 | Notices | 31 |
SECTION 10.4 | Successors and Assigns | 32 |
SECTION 10.5 | Counterparts | 32 |
SECTION 10.6 | Severability | 32 |
SECTION 10.7 | Expenses, etc. | 32 |
SECTION 10.8 | Security Interest Absolute | 32 |
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 Remarketing | D-1 |
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(a) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular; and | |||
(b) the words "herein," "hereof" and "hereunder" and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision. | |||
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SECTION 4.2 Substitution of Treasury Securities and the Creation of Corporate Units | |||
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Anything in this Agreement to the contrary notwithstanding, in no event shall any of the Collateral Agent, the Custodial Agent or the Securities Intermediary or their officers, employees or agents be liable under this Agreement to any third party for indirect, special, punitive, or consequential loss or damage of any kind whatsoever, including lost profits, whether or not the likelihood of such loss or damage was known to the Collateral Agent, the Custodial Agent or the Securities Intermediary, or any of them, incurred without any act or deed that is found to be attributable to negligence or willful misconduct on the part of the Collateral Agent, the Custodial Agent or the Securities Intermediary. | |||
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IN WITNESS WHEREOF, the parties hereto have caused this Pledge Agreement to be duly executed as of the day and year first above written. | |||
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By: | /s/ Paul I. Cutler | ||
Name: Paul I. Cutler | |||
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By: | /s/ Mary LaGumina | ||
Name: Mary LaGumina | |||
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By: | /s/ L. O'Brien | ||
Name: L. O'Brien | |||
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EXHIBIT A | ||
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Date:__________________________ | __________________________________________ | |
By: _______________________________________ |
Please print name and address of registered Holder electing to substitute [Treasury Securities] [Debentures or the appropriate Applicable Ownership Interest in the Treasury Portfolio] for [Pledged Debentures or appropriate Pledged Applicable Ownership Interest in the Treasury Portfolio] [Pledged Treasury Securities]: | ||
Name | Social Security or other Taxpayer Identification Number, if any | |
Address | ||
EXHIBIT B | |||
The Bank of New York | |||
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Signature | |||
Signature | |||
Guarantee: | |||
Please print name and address of Registered Holder: | ||
Name | Social Security or other Taxpayer Identification Number, if any | |
Address | ||
EXHIBIT C | |||||
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Please print name and address: | |||||||
Name | Social Security or other Taxpayer Identification Number, if any | ||||||
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A. PAYMENT INSTRUCTIONS
| B. DELIVERY INSTRUCTIONS
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EXHIBIT D | |||
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Please print name and address: |
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_____________________________ |
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