Duke Energy Carolinas NC Storm Funding II LLC Sample Contracts
INDENTURE by and among DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION, Securities Intermediary and Account Bank Dated as of September 30, 2025Indenture • September 30th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
This INDENTURE, dated as of September 30, 2025, is by and among DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company, and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, in its capacity as trustee for the benefit of the Secured Parties and U.S. BANK NATIONAL ASSOCIATION, in its capacity as a securities intermediary and account bank.
INDENTURE by and among DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION, Securities Intermediary and Account Bank Dated as of [Closing Date], 2025Indenture • September 3rd, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
This INDENTURE, dated as of [Closing Date], 2025, is by and among DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company, and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, in its capacity as trustee for the benefit of the Secured Parties and U.S. BANK NATIONAL ASSOCIATION, in its capacity as a securities intermediary and account bank.
ADMINISTRATION AGREEMENTAdministration Agreement • September 25th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • North Carolina
This ADMINISTRATION AGREEMENT, dated as of September 30, 2025, is entered into by and between Duke Energy Carolinas, LLC, a North Carolina limited liability company (“DEC”), as administrator (the “Administrator”), and Duke Energy Carolinas NC Storm Funding II LLC, a Delaware limited liability company (the “Issuer”).
DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC $582,089,000 SERIES A SENIOR SECURED STORM RECOVERY BONDS UNDERWRITING AGREEMENTUnderwriting Agreement • September 25th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC $[____] SERIES A SENIOR SECURED STORM RECOVERY BONDS UNDERWRITING AGREEMENTUnderwriting Agreement • September 3rd, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
ADMINISTRATION AGREEMENTAdministration Agreement • September 30th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • North Carolina
This ADMINISTRATION AGREEMENT, dated as of September 30, 2025, is entered into by and between Duke Energy Carolinas, LLC, a North Carolina limited liability company (“DEC”), as administrator (the “Administrator”), and Duke Energy Carolinas NC Storm Funding II LLC, a Delaware limited liability company (the “Issuer”).
AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC Dated and Effective as of September 22, 2025Limited Liability Company Agreement • September 25th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • Delaware
This AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) of DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company (the “Company”), is made and entered into as of September 22, 2025 by DUKE ENERGY CAROLINAS, LLC, a North Carolina limited liability company (including any additional or successor members of the Company other than Special Members, the “Member”).
STORM RECOVERY PROPERTY PURCHASE AND SALE AGREEMENT by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, Issuer and Duke Energy Carolinas, LLC, Seller Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture...Storm Recovery Property Purchase and Sale Agreement • September 25th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • North Carolina
This STORM RECOVERY PROPERTY PURCHASE AND SALE AGREEMENT, dated as of September 30, 2025, is by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company, and Duke Energy CAROLINAS, LLC (the “Seller”), a North Carolina limited liability company, and acknowledged and accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, as indenture trustee.
INDENTURE by and among DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION, Securities Intermediary and Account Bank Dated as of September 30, 2025Indenture • September 25th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
This INDENTURE, dated as of September 30, 2025, is by and among DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company, and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, in its capacity as trustee for the benefit of the Secured Parties and U.S. BANK NATIONAL ASSOCIATION, in its capacity as a securities intermediary and account bank.
STORM RECOVERY PROPERTY PURCHASE AND SALE AGREEMENT by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, Issuer and Duke Energy Carolinas, LLC, Seller Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture...Storm Recovery Property Purchase and Sale Agreement • September 30th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • North Carolina
This STORM RECOVERY PROPERTY PURCHASE AND SALE AGREEMENT, dated as of September 30, 2025, is by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company, and Duke Energy CAROLINAS, LLC (the “Seller”), a North Carolina limited liability company, and acknowledged and accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, as indenture trustee.
STORM RECOVERY PROPERTY SERVICING AGREEMENT by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, Issuer and DUKE ENERGY CAROLINAS, LLC, Servicer Acknowledged and Accepted by Dated as of [Closing Date], 2025Storm Recovery Property Servicing Agreement • July 23rd, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • North Carolina
This STORM RECOVERY PROPERTY SERVICING AGREEMENT, dated as of [Closing Date], 2025, is by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company, as Issuer, and DUKE ENERGY CAROLINAS, LLC, a North Carolina limited liability company, as Servicer, and acknowledged and accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, as Indenture Trustee.
ADMINISTRATION AGREEMENTAdministration Agreement • July 23rd, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • North Carolina
This ADMINISTRATION AGREEMENT, dated as of [Closing Date], 2025, is entered into by and between Duke Energy Carolinas, LLC, a North Carolina limited liability company (“DEC”), as administrator (the “Administrator”), and Duke Energy Carolinas NC Storm Funding II LLC, a Delaware limited liability company (the “Issuer”).
INTERCREDITOR AGREEMENTIntercreditor Agreement • September 30th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
INTERCREDITOR AGREEMENTIntercreditor Agreement • September 25th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
INTERCREDITOR AGREEMENTIntercreditor Agreement • September 3rd, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
INDENTURE by and among DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION, Securities Intermediary and Account Bank Dated as of [Closing Date], 2025Indenture • July 23rd, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
This INDENTURE, dated as of [Closing Date], 2025, is by and among DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company, and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, in its capacity as trustee for the benefit of the Secured Parties and U.S. BANK NATIONAL ASSOCIATION, in its capacity as a securities intermediary and account bank.
JOINDER AGREEMENTJoinder Agreement • September 3rd, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services
Reference is made to that certain Intercreditor Agreement, dated as of [______ __], 2025 (as amended, supplemented or otherwise modified prior to the date hereof, the “Intercreditor Agreement”), by and among Duke Energy Carolinas, LLC, a Delaware limited liability company, in its individual capacity, and in its capacity Property Servicer (the “Company”), Duke Energy Carolinas NC Storm Funding LLC, a Delaware limited liability company, as NC Bond Issuer, The Bank of New York Mellon Trust Company, National Association, a national banking association, as the NC Bond Trustee, Duke Energy Carolinas NC Storm Funding II LLC, a Delaware limited liability company, as the NC II Bond Issuer and U.S. Bank Trust Company, National Association, a national banking association, as NC II Bond Issuer, the “Additional Bond Issuers” from time to time party thereto, the “Joined Parties” from time to time party thereto, and the “Additional Property Servicers” form time to time party thereto. Each capitalized
STORM RECOVERY PROPERTY SERVICING AGREEMENT by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, Issuer and DUKE ENERGY CAROLINAS, LLC, Servicer Acknowledged and Accepted by Dated as of September 30, 2025Storm Recovery Property Servicing Agreement • September 25th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • North Carolina
This STORM RECOVERY PROPERTY SERVICING AGREEMENT, dated as of September 30, 2025, is by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company, as Issuer, and DUKE ENERGY CAROLINAS, LLC, a North Carolina limited liability company, as Servicer, and acknowledged and accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, as Indenture Trustee.
STORM RECOVERY PROPERTY PURCHASE AND SALE AGREEMENT by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, Issuer and Duke Energy Carolinas, LLC, Seller Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture...Storm Recovery Property Purchase and Sale Agreement • July 23rd, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • North Carolina
This STORM RECOVERY PROPERTY PURCHASE AND SALE AGREEMENT, dated as of [Closing Date], 2025, is by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company, and Duke Energy CAROLINAS, LLC (the “Seller”), a North Carolina limited liability company, and acknowledged and accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, as indenture trustee.
JOINDER AGREEMENT September 30, 2025Joinder Agreement • September 25th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services
Reference is made to that certain Amended and Restated Intercreditor Agreement, dated as of December 20, 2013 (as amended by that amendment No. 1 dated as of August 1, 2023 and as otherwise amended, supplemented or otherwise modified prior to the date hereof, the “Intercreditor Agreement”), by and among Duke Energy Business Services LLC (as successor to Duke Energy Business Services, Inc.), a Delaware limited liability company (“DEBS”), as Receivables Sub-Servicer, Duke Energy Corporate Services Inc., a Delaware corporation (together with DEBS, the “Account Owners” and each, an “Account Owner”), Duke Energy Corporation, a Delaware corporation (the “Parent”), the “Receivables Servicers” from time to time party thereto, the “Creditors” from time to time party thereto, and the “Receivables Purchasers” form time to time party thereto. Each capitalized term used herein and not defined herein shall have the meaning ascribed thereto in the Intercreditor Agreement.
ContractSeries Supplement • September 30th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
This SERIES SUPPLEMENT, dated as of September 30, 2025 (this “Supplement”), is by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a limited liability company created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (“Bank”), in its capacity as indenture trustee (the “Indenture Trustee”) for the benefit of the Secured Parties under the Indenture dated as of September 30, 2025 (the “Indenture”), by and among the Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, in its capacity as Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION, in its capacity as a securities intermediary and account bank.
ContractSeries Supplement • September 25th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • New York
This SERIES SUPPLEMENT, dated as of September 30, 2025 (this “Supplement”), is by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a limited liability company created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (“Bank”), in its capacity as indenture trustee (the “Indenture Trustee”) for the benefit of the Secured Parties under the Indenture dated as of September 30, 2025 (the “Indenture”), by and among the Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, in its capacity as Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION, in its capacity as a securities intermediary and account bank.
AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC Dated and Effective as of [ ], 2025Limited Liability Company Agreement • July 23rd, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • Delaware
This AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) of DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company (the “Company”), is made and entered into as of [ ], 2025 by DUKE ENERGY CAROLINAS, LLC, a North Carolina limited liability company (including any additional or successor members of the Company other than Special Members, the “Member”).
STORM RECOVERY PROPERTY SERVICING AGREEMENT by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, Issuer and DUKE ENERGY CAROLINAS, LLC, Servicer Acknowledged and Accepted by Dated as of September 30, 2025Storm Recovery Property Servicing Agreement • September 30th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services • North Carolina
This STORM RECOVERY PROPERTY SERVICING AGREEMENT, dated as of September 30, 2025, is by and between DUKE ENERGY CAROLINAS NC STORM FUNDING II LLC, a Delaware limited liability company, as Issuer, and DUKE ENERGY CAROLINAS, LLC, a North Carolina limited liability company, as Servicer, and acknowledged and accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, as Indenture Trustee.
JOINDER AGREEMENT September 30, 2025Joinder Agreement • September 30th, 2025 • Duke Energy Carolinas NC Storm Funding II LLC • Electric services
Reference is made to that certain Amended and Restated Intercreditor Agreement, dated as of December 20, 2013 (as amended by that amendment No. 1 dated as of August 1, 2023 and as otherwise amended, supplemented or otherwise modified prior to the date hereof, the “Intercreditor Agreement”), by and among Duke Energy Business Services LLC (as successor to Duke Energy Business Services, Inc.), a Delaware limited liability company (“DEBS”), as Receivables Sub-Servicer, Duke Energy Corporate Services Inc., a Delaware corporation (together with DEBS, the “Account Owners” and each, an “Account Owner”), Duke Energy Corporation, a Delaware corporation (the “Parent”), the “Receivables Servicers” from time to time party thereto, the “Creditors” from time to time party thereto, and the “Receivables Purchasers” form time to time party thereto. Each capitalized term used herein and not defined herein shall have the meaning ascribed thereto in the Intercreditor Agreement.