Common use of Description of the Bonds Clause in Contracts

Description of the Bonds. The Bonds will be issued pursuant to an indenture to be dated as of November 24, 2021, as supplemented by one or more series supplements thereto (as so supplemented, the “Indenture”), between the Issuer and The Bank of New York Mellon Trust Company, National Association as indenture trustee (the “Indenture Trustee”). The Bonds will be senior secured obligations of the Issuer and will be supported by storm recovery property (as more fully described in the irrevocable financing order by the North Carolina Utilities Commission (“NCUC”) to the Depositor dated May 10, 2021, relating to the Bonds, which was clarified and corrected by the NCUC in an Order Clarifying and Correcting Financing Order on July 13, 2021 (the “Financing Order”), (the “Storm Recovery Property”), to be sold to the Issuer by the Depositor pursuant to the Storm Recovery Property Purchase and Sale Agreement, to be dated on or about November 24, 2021 between the Depositor and the Issuer (the “Sale Agreement”). The Storm Recovery Property securing the Bonds will be serviced pursuant to the Storm Recovery Property Servicing Agreement, to be dated on or about November 24, 2021 between the Depositor, as servicer, and the Issuer, as owner of the Storm Recovery Property sold to it pursuant to the Sale Agreement (the “Servicing Agreement”).

Description of the Bonds. The issuance of the Bonds is authorized by the Financing Order, Docket No. 10-008-U (the “Financing Order”), issued by the Arkansas Public Service Commission (the “APSC”) on June 16, 2010 in accordance with Subchapter 9 of Chapter 18 of Subtitle 1 of Title 23 of the Arkansas Code of 1987 (the “Financing Act”). The Bonds will be issued pursuant to an indenture to be dated as of November 24August [ ], 20212010, as supplemented by one or more a series supplements supplement thereto relating to the Bonds (as so supplemented, the “Indenture”), between the Issuer and The Bank of New York Mellon Trust CompanyMellon, National Association as indenture trustee (the “Indenture Trustee”). The Bonds will be senior secured obligations of the Issuer and will be supported secured by storm recovery property (as more fully described in the irrevocable financing order by the North Carolina Utilities Commission (“NCUC”) to the Depositor dated May 10, 2021, relating to the Bonds, which was clarified and corrected by the NCUC in an Order Clarifying and Correcting Financing Order on July 13, 2021 (the “Financing Order”), (the “Storm Recovery Property”), ) to be sold to the Issuer by the Depositor EAI pursuant to the Storm Recovery Property Purchase and Sale Agreement, to be dated on or about November 24August [ ], 2021 2010, between the Depositor EAI and the Issuer (the “Sale Agreement”). The Storm Recovery Property securing the Bonds will be serviced pursuant to the Storm Recovery Property Servicing Agreement, to be dated on or about November 24August [ ], 2021 2010 (the “Servicing Agreement”), between the DepositorEAI, as servicer, and the Issuer, as owner of the Storm Recovery Property sold to it pursuant to the Sale Agreement (the “Servicing Agreement”).

Description of the Bonds. The Bonds will be issued pursuant to an indenture to be dated as of November 24April 25, 20212024, as supplemented by one or more series supplements thereto (as so supplemented, the “Indenture”), between among the Issuer and The Issuer, U.S. Bank of New York Mellon Trust Company, National Association as indenture trustee (the “Indenture Trustee”), and U.S. Bank National Association, as securities intermediary and account bank. The Bonds will be senior secured obligations of the Issuer and will be supported by storm recovery property (the “Storm Recovery Property”), as more fully described in the irrevocable financing order by the North Public Service Commission of South Carolina Utilities Commission (“NCUCPSCSC”) to the Depositor dated May 10October 13, 20212023, as amended on October 23, 2023, relating to the Bonds, which was clarified and corrected by the NCUC in an Order Clarifying and Correcting Financing Order on July 13, 2021 (the “Financing Order”), (the “. The Storm Recovery Property”), to Property will be sold to the Issuer by the Depositor pursuant to the Storm Recovery Property Purchase and Sale Agreement, to be dated on or about November 24April 25, 2021 between the Depositor and the Issuer 2024 (the “Sale Agreement”)) between the Depositor and the Issuer. The Storm Recovery Property securing the Bonds will be serviced pursuant to the Storm Recovery Property Servicing Agreement, to be dated on or about November 24April 25, 2021 2024 (the “Servicing Agreement”) between the Depositor, as servicer, and the Issuer, as owner of the Storm Recovery Property sold to it pursuant to the Sale Agreement (the “Servicing Agreement”).

Description of the Bonds. The Bonds will be issued pursuant to an indenture to be dated as of November 24[____], 20212024, as supplemented by one or more series supplements thereto (as so supplemented, the “Indenture”), between among the Issuer and The Issuer, U.S. Bank of New York Mellon Trust Company, National Association as indenture trustee (the “Indenture Trustee”), U.S. Bank National Association, as securities intermediary and account bank. The Bonds will be senior secured obligations of the Issuer and will be supported by storm recovery property (the “Storm Recovery Property”), as more fully described in the irrevocable financing order by the North Public Service Commission of South Carolina Utilities Commission (“NCUCPSCSC”) to the Depositor dated May 10October 13, 20212023, as amended on October 23, 2023, relating to the Bonds, which was clarified and corrected by the NCUC in an Order Clarifying and Correcting Financing Order on July 13, 2021 (the “Financing Order”), (the “. The Storm Recovery Property”), to Property will be sold to the Issuer by the Depositor pursuant to the Storm Recovery Property Purchase and Sale Agreement, to be dated on or about November 24[___], 2021 between the Depositor and the Issuer 2024 (the “Sale Agreement”)) between the Depositor and the Issuer. The Storm Recovery Property securing the Bonds will be serviced pursuant to the Storm Recovery Property Servicing Agreement, to be dated on or about November 24[___], 2021 2024 (the “Servicing Agreement”) between the Depositor, as servicer, and the Issuer, as owner of the Storm Recovery Property sold to it pursuant to the Sale Agreement (the “Servicing Agreement”).

Description of the Bonds. The issuance of the Bonds is authorized by the Financing Order, Docket No. 10-008-U (the “Financing Order”), issued by the Arkansas Public Service Commission (the “APSC”) on June 16, 2010 in accordance with Subchapter 9 of Chapter 18 of Subtitle 1 of Title 23 of the Arkansas Code of 1987 (the “Financing Act”). The Bonds will be issued pursuant to an indenture to be dated as of November 24August 18, 20212010, as supplemented by one or more a series supplements supplement thereto relating to the Bonds (as so supplemented, the “Indenture”), between the Issuer and The Bank of New York Mellon Trust CompanyMellon, National Association as indenture trustee (the “Indenture Trustee”). The Bonds will be senior secured obligations of the Issuer and will be supported secured by storm recovery property (as more fully described in the irrevocable financing order by the North Carolina Utilities Commission (“NCUC”) to the Depositor dated May 10, 2021, relating to the Bonds, which was clarified and corrected by the NCUC in an Order Clarifying and Correcting Financing Order on July 13, 2021 (the “Financing Order”), (the “Storm Recovery Property”), ) to be sold to the Issuer by the Depositor EAI pursuant to the Storm Recovery Property Purchase and Sale Agreement, to be dated on or about November 24August 18, 2021 2010, between the Depositor EAI and the Issuer (the “Sale Agreement”). The Storm Recovery Property securing the Bonds will be serviced pursuant to the Storm Recovery Property Servicing Agreement, to be dated on or about November 24August 18, 2021 2010 (the “Servicing Agreement”), between the DepositorEAI, as servicer, and the Issuer, as owner of the Storm Recovery Property sold to it pursuant to the Sale Agreement (the “Servicing Agreement”).