CINERGY CORP.
AND
FIFTH THIRD BANK,
Trustee
----------------
First Supplemental Indenture
Dated as of September 12, 2001
To
Indenture
Dated as of September 12, 2001
----------------
6.25% Debentures Due 2004
FIRST SUPPLEMENTAL INDENTURE, dated as of September 12, 2001, between
Cinergy Corp., a corporation duly organized and existing under the laws of the
State of Delaware (herein called the "Company"), having its principal office at
000 Xxxx Xxxxxx Xxxxxx, Xxxxxxxxxx, Xxxx 00000, and Fifth Third Bank, an Ohio
banking corporation, as Trustee (herein called the "Trustee") under the
Indenture dated as of September 12, 2001 between the Company and the Trustee
(the "Indenture").
Recitals of the Company
The Company has executed and delivered the Indenture to the Trustee to
provide for the issuance from time to time of its unsecured debentures, notes or
other evidences of indebtedness (the "Securities"), to be issued in one or more
series as provided in the Indenture.
Pursuant to the terms of the Indenture, the Company desires to provide for
the establishment of a series of Securities, to be known as its 6.25% Debentures
due 2004 (herein called the "Debentures"), in this First Supplemental Indenture.
All things necessary to make this First Supplemental Indenture a valid
agreement of the Company have been done.
Now, Therefore, This First Supplemental Indenture Witnesseth:
For and in consideration of the premises and the purchase of the Debentures
by the Holders thereof, it is mutually agreed, for the equal and proportionate
benefit of all Holders of the Debentures, as follows:
ARTICLE ONE
Terms of the Debentures
Section 101. There is hereby authorized a series of Securities designated
the "6.25% Debentures due 2004," limited in aggregate principal amount to
$500,000,000 (except as provided in Section 301(2) of the Indenture). The
Debentures shall mature and the principal shall be due and payable together with
all accrued and unpaid interest thereon on September 1, 2004. The Debentures
initially shall be issued in the form of a registered Global Security without
coupons, registered in the name of Cede & Co., as nominee of The Depository
Trust Company (the "Depositary").
Section 102. The provisions of Section 305 of the Indenture applicable to
Global Securities shall apply to the Debentures.
Section 103. Interest on each of the Debentures shall be payable
semiannually on March 1 and September 1 in each year (each an "Interest Payment
Date"), commencing on March 1, 2002, at the rate per annum specified in the form
of Debentures, from September 12, 2001, or from the most recent Interest Payment
Date to which interest has been paid or duly provided for. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date
will be paid to the Person in whose name such Debenture (or one or more
Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest, which shall be the Business Day immediately
preceding such Interest Payment Date. The amount of interest payable for any
period will be computed on the basis of a 360-day year of twelve 30-day months.
As used herein, "Business Day" means any day other than a Saturday or Sunday or
a day which banking institutions in New York, New York are authorized or
obligated by law or executive order to be closed.
Section 104. Subject to agreements with or the rules of the Depositary or
any successor book-entry security system or similar system with respect to
Global Securities, payments of interest will be made by check mailed to the
Holder of each Debenture at the address shown in the Security Register, and
payments of the principal amount of each Debenture will be made at maturity by
check against presentation of the Debenture at the office or agency of the
Trustee.
Section 105. The Debentures shall be issued in denominations of $1,000 or
any integral multiple of $1,000.
Section 106. Principal and interest on the Debentures shall be payable in
the coin or currency of the United States of America, which, at the time of
payment, is legal tender for public and private debts.
Section 107. The Debentures shall be subject to defeasance and covenant
defeasance, at the Company's option, as provided for in Sections 1302 and 1303
of the Indenture.
Section 108. Subject to the terms of Article Eleven of the Indenture, the
Company shall have the right to redeem the Debentures, at any time in whole or
from time to time in part, until maturity (such redemption, a "Make-Whole
Redemption"), upon not less than 30 nor more than 60 days' notice to the
Holders, at a Redemption Price equal to the sum of (i) the principal amount of
the Debentures being redeemed plus accrued and unpaid interest thereon to the
Redemption Date, and (ii) the Make-Whole Amount if any, with respect to the
Debentures being redeemed. For purposes of this Section 108:
"Make-Whole Amount" means, in connection with any Make-Whole Redemption of
any Debentures, the excess, if any, of (i) the sum, as determined by a Quotation
Agent, of the present value of the principal amount of such Debentures to be
redeemed, together with scheduled payments of interest thereon from the
Redemption Date to September 1, 2004 (not including any portion of such payments
of interest accrued as of the Redemption Date), in each case discounted to the
Redemption Date on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Adjusted Treasury Rate over (ii) 100% of the
principal amount of the Debentures to be redeemed.
"Adjusted Treasury Rate" means, with respect to any Redemption Date for a
Make-Whole Redemption, the rate per annum equal to the semi-annual equivalent
yield to maturity of the Comparable Treasury Issue, calculated using a price for
the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such Redemption Date,
calculated on the third Business Day preceding the Redemption Date, plus in each
case .25% (25 basis points).
"Comparable Treasury Issue" means the United States Treasury security
selected by the Quotation Agent as having a maturity comparable to the remaining
term from the Redemption Date to the Stated Maturity of the Debentures that
would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of the Debentures.
"Quotation Agent" means the Reference Treasury Dealer selected by the
Trustee after consultation with the Company. "Reference Treasury Dealer" means a
primary U.S. Government securities dealer.
"Comparable Treasury Price" means, with respect to any Redemption Date for
a Make-Whole Redemption, (i) the average of the bid and asked prices for the
Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) on the third Business Day preceding such Redemption Date, as
set forth in the daily statistical release designated "H.15" (or any successor
release) published by the Board of Governors of the Federal Reserve System or
(ii) if such release (or any successor release) is not published or does not
contain such prices on such Business Day, (A) the average of the Reference
Treasury Dealer Quotations for such Redemption Date, after excluding the highest
and lowest of such Reference Treasury Dealer Quotations, or (B) if the Trustee
obtains fewer than three such Reference Treasury Dealer Quotations, the average
of such Quotations.
"Reference Treasury Dealer Quotations" means, with respect to each
Reference Treasury Dealer and any Redemption Date for a Make-Whole Redemption,
the average, as determined by the Trustee (after consultation with the Company),
of the bid and asked prices for the Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) quoted in writing to the Trustee
by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third
Business Day preceding such Redemption Date.
Notice of any redemption by the Company will be mailed at least 30 days but
not more than 60 days before any Redemption Date to each Holder of Debentures to
be redeemed. If less than all the Debentures are to be redeemed at the option of
the Company, the Trustee shall select, in such manner as it shall deem fair and
appropriate, the Debentures to be redeemed in whole or in part.
Unless the Company defaults in payment of the Redemption Price, on and
after any Redemption Date, interest will cease to accrue on the Debentures or
portions thereof called for redemption.
Section 109. The interest rate payable on the Debentures will be subject to
adjustment from time to time if either Xxxxx'x Investor Service, Inc.
("Moody's") or Standard & Poor's Ratings Group ("S&P") reduces the rating
ascribed to the Securities issued under the Indenture below "Investment Grade,"
which is Baa3 in the case of Moody's and BBB- in the case of S&P. In this event,
the interest rate payable on the Debentures will be increased by .25% for such a
reduction by either Moody's or S&P, as the case may be, with a maximum increase
of .50% if both such rating agencies reduce their ratings below Investment
Grade. If Moody's or S&P subsequently increases the rating ascribed to the
Securities issued under the Indenture above Ba1 in the case of Moody's or above
BB+ in the case of S&P, then the interest rate payable on the Debentures will be
decreased by .25% for such an upgrade by either Moody's or S&P, as the case may
be, with a maximum decrease of .50% if both such rating agencies upgrade their
ratings to Investment Grade, but in no event will the interest rate be reduced
to below the initial interest rate of 6.25%. Any such interest rate increase or
decrease will take effect from the Interest Payment Date following the related
rating downgrade or upgrade, as the case may be. There is no limit to the number
of times the interest rate payable on the Debentures can be adjusted. However,
the interest rate payable on the Debentures will not exceed 6.25%, plus a
maximum adjustment of .50% pursuant to this Section 109.
Section 110. In the event an unaffiliated third party acquires the Company
or the Company is acquired through a management-led buy-out (in either case, an
"Acquisition Event"), and both Moody's and S&P reduce the rating ascribed to the
Debentures below Investment Grade within 30 calendar days of the Acquisition
Event (an "Acquisition Downgrade"), then each Holder of the Debentures shall
have the right, at the Holder's option, to require the Company to repurchase all
or any part of the Holder's Debentures. The Company shall purchase the
Debentures on the Repurchase Date at a price equal to 100% of the principal
amount of the Debentures, plus accrued and unpaid interest, to the Repurchase
Date.
The Company shall give notice to the Trustee and Holders of the Debentures
within 30 calendar days after an Acquisition Downgrade. The date on which notice
is given to the Trustee shall be the "Notice Date." To require the Company to
repurchase the Debentures, a Holder must, on or before the close of business 20
Business Days prior to the Repurchase Date, notify the Trustee of such Holder's
exercise of this option and complete and submit appropriate documentation.
For purposes of this Section 110, the "Repurchase Date" means the 45th
calendar day after the Notice Date.
If the Company fails to repurchase Debentures, as required by this Section,
(a) on the Repurchase Date and (b) for 90 days following notice to the Company
from the Trustee of such failure, it shall be an Event of Default under the
Indenture.
ARTICLE TWO
Form of the Debentures
Section 201. The Debentures are to be substantially in the following form
and shall include substantially the legend shown so long as the Debentures are
in Global Security form:
(FORM OF FACE OF DEBENTURE)
No. R- $---------
CUSIP No.
CINERGY CORP.
6.25% DEBENTURES DUE 2004
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT AND SUCH CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & Co., HAS AN INTEREST
HEREIN.
CINERGY CORP., a corporation duly organized and existing under the laws of
the State of Delaware (herein called the "Company," which term includes any
successor Person under the Indenture hereafter referred to), for value received,
hereby promises to pay to CEDE & CO., or registered assigns, the principal sum
of _____________ and No/100 Dollars ($_______) on September 1, 2004, and to pay
interest thereon from September 12, 2001, or from the most recent Interest
Payment Date to which interest has been paid or duly provided for, semiannually,
on March 1 and September 1 in each year, commencing March 1, 2002, at the rate
of 6.25% per annum, until the principal hereof is paid or made available for
payment. The amount of interest payable on any Interest Payment Date shall be
computed on the basis of a 360-day year of twelve 30-day months. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in the Indenture, be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of
business on the Record Date for such interest, which shall be the Business Day
immediately preceding such Interest Payment Date. Any such interest not so
punctually paid or duly provided for will forthwith cease to be payable to the
Holder on such Regular Record Date and may either be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the
close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to Holders of
Securities of this series not less than 10 days prior to such Special Record
Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Securities of this
series may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in the Indenture.
Payment of the principal of and interest on this Security will be made at
the corporate trust office of the Trustee maintained for that purpose in the
City of Cincinnati, in such coin or currency of the United States of America as
at the time of payment is legal tender for payment of public and private debts;
provided, however, that at the option of the Company payment of interest may be
made by check mailed to the address of the Person entitled thereto as such
address shall appear in the Security Register.
Any payment on this Security due on any day which is not a Business Day in
the City of New York need not be made on such day, but may be made on the next
succeeding Business Day with the same force and effect as if made on the due
date and no interest shall accrue for the period from and after such date.
As used herein, "Business Day" means any day other than a Saturday or
Sunday or a day on which banking institutions in New York, New York are
authorized or obligated by law or executive order to be closed.
Reference is hereby made to the further provisions of this Security set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.
Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.
In Witness Whereof, the Company has caused this instrument to be duly
executed.
CINERGY CORP.
By
CERTIFICATE OF AUTHENTICATION
Dated:
This is one of the Securities of the series designated therein referred to
in the within-mentioned Indenture.
FIFTH THIRD BANK,
as Trustee
By
Authorized Signatory
(FORM OF REVERSE OF DEBENTURE)
This Security is one of a duly authorized issue of securities of the Company
(herein called the "Securities"), issued and to be issued in one or more series
under an Indenture, dated as of September 12, 2001 (herein called the
"Indenture," which term shall have the meaning assigned to it in such
instrument), between the Company and Fifth Third Bank, as Trustee (herein called
the "Trustee," which term includes any successor trustee under the Indenture),
and reference is hereby made to the Indenture for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is one
of the series designated on the face hereof, limited in aggregate principal
amount to $500,000,000.
The interest rate payable on this Security will be subject to adjustment from
time to time if either Xxxxx'x Investor Service, Inc. ("Moody's") or Standard &
Poor's Ratings Group ("S&P") reduces the rating ascribed to the Securities
issued under the Indenture below "Investment Grade," which is Baa3 in the case
of Moody's and BBB- in the case of S&P. In this event, the interest rate payable
on this Security will be increased by .25% for such a reduction by either
Moody's or S&P, as the case may be, with a maximum increase of .50% if both such
rating agencies reduce their ratings below Investment Grade. If Moody's or S&P
subsequently increases the rating ascribed to the Securities issued under the
Indenture above Ba1 in the case of Moody's or above BB+ in the case of S&P, then
the interest rate payable on this Security will be decreased by .25% for such an
upgrade by either Moody's or S&P, as the case may be, with a maximum decrease of
.50% if both such rating agencies upgrade their ratings to Investment Grade, but
in no event will the interest rate be reduced to below the initial interest rate
of 6.25%. Any such interest rate increase or decrease will take effect from the
Interest Payment Date following the related rating downgrade or upgrade, as the
case may be. There is no limit to the number of times the interest rate payable
on this Security can be adjusted. However, the interest rate payable on this
Security will not exceed 6.25%, plus a maximum adjustment of .50%.
The Indenture contains provisions for defeasance at any time of the entire
indebtedness of this Security or certain restrictive covenants and Events of
Default with respect to this Security upon compliance with certain conditions
set forth in the Indenture.
The Securities of this series are subject to optional redemption at any time in
whole or from time to time in part, until maturity (such redemption, a
"Make-Whole Redemption"), upon not less than 30 nor more than 60 days' notice to
the Holders, at a Redemption Price equal to the sum of (i) the principal amount
of the Securities being redeemed plus accrued and unpaid interest thereon to the
Redemption Date, and (ii) the Make-Whole Amount (as defined below), if any, with
respect to the Securities being redeemed.
"Make-Whole Amount" means, in connection with any Make-Whole Redemption of any
Securities, the excess, if any, of (i) the sum, as determined by a Quotation
Agent of the present value of the principal amount of such Securities, together
with scheduled payments of interest thereon from the Redemption Date to
September 1, 2004 (not including any portion of such payments of interest
accrued as of the Redemption Date), in each case discounted to the Redemption
Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Adjusted Treasury Rate over (ii) 100% of the principal amount of
the Securities to be redeemed.
"Adjusted Treasury Rate" means, with respect to any Redemption Date for a
Make-Whole Redemption, the rate per annum equal to the semi-annual equivalent
yield to maturity of the Comparable Treasury Issue, calculated using a price for
the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such Redemption Date,
calculated on the third Business Day preceding the Redemption Date, plus in each
case .25% (25 basis points).
"Comparable Treasury Issue" means the United States Treasury security selected
by the Quotation Agent as having a maturity comparable to the remaining term
from the Redemption Date to the Stated Maturity of the Securities that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities.
"Quotation Agent" means the Reference Treasury Dealer selected by the Trustee
after consultation with the Company. "Reference Treasury Dealer" means a primary
U.S. Government securities dealer.
"Comparable Treasury Price" means, with respect to any Redemption Date for a
Make-Whole Redemption, (i) the average of the bid and asked prices for the
Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) on the third Business Day preceding such Redemption Date, as
set forth in the daily statistical release designated "H.15" (or any successor
release) published by the Board of Governors of the Federal Reserve System or
(ii) if such release (or any successor release) is not published or does not
contain such prices on such Business Day, (A) the average of the Reference
Treasury Dealer Quotations for such Redemption Date, after excluding the highest
and lowest of such Reference Treasury Dealer Quotations, or (B) if the Trustee
obtains fewer than three such Reference Treasury Dealer Quotations, the average
of such Quotations.
"Reference Treasury Dealer Quotations" means, with respect to each Reference
Treasury Dealer and any Redemption Date for a Make-Whole Redemption, the
average, as determined by the Trustee (after consultation with the Company), of
the bid and asked prices for the Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) quoted in writing to the Trustee
by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third
Business Day preceding such Redemption Date.
Notice of any redemption by the Company will be mailed at least 30 days but not
more than 60 days before any Redemption Date to each Holder of Securities to be
redeemed. If less than all the Securities are to be redeemed at the option of
the Company, the Trustee shall select, in such manner as it shall deem fair and
appropriate, the Securities to be redeemed in whole or in part.
Unless the Company defaults in payment of the Redemption Price, on and after any
Redemption Date, interest will cease to accrue on the Securities or portions
thereof called for redemption.
If an Event of Default with respect to Securities of this series shall occur and
be continuing, the principal of the Securities of this series may be declared
due and payable in the manner and with the effect provided in the Indenture.
The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of a majority in principal amount of the Securities at
the time outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of a majority in principal amount of the
Securities of each series at the time outstanding, on behalf of the Holders of
all Securities of such series, to waive compliance by the Company with certain
provisions of the Indenture and certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Security
shall be conclusive and binding upon such Holder and upon all future Holders of
this Security and of any Security issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Security.
As provided in and subject to the provisions of the Indenture, the Holder of
this Security shall not have the right to institute any proceeding with respect
to the Indenture or for the appointment of a receiver or trustee or for any
other remedy thereunder, unless such Holder shall have previously given the
Trustee written notice of a continuing Event of Default with respect to the
Securities of this series, the Holders of not less than 35% in principal amount
of the Securities of this series at the time Outstanding shall have made written
request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonably satisfactory indemnity,
and the Trustee shall not have received from the Holders of a majority in
principal amount of Securities of this series at the time Outstanding a
direction inconsistent with such request, and shall have failed to institute any
such proceeding, for 60 days after receipt of such notice, request and offer of
indemnity. The foregoing shall not apply to any suit instituted by the Holder of
this Security for the enforcement of any payment of principal hereof or interest
hereon on or after the respective due dates expressed herein.
No reference herein to the Indenture and no provision of this Security or of the
Indenture shall alter or impair the obligation of the Company, which is absolute
and unconditional, to pay the principal of and interest on this Security at the
times, place and rate, and in the coin or currency, herein prescribed.
As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registrable in the Security Register,
upon surrender of this Security for registration of transfer at the office or
agency of the Company in any place where the principal of and interest on this
Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly
executed by, the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities of this series and of like tenor, of
authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.
The Securities of this series are issuable only in registered form without
coupons in denominations of $1,000 and any integral multiple thereof. As
provided in the Indenture and subject to certain limitations therein set forth,
Securities of this series are exchangeable for a like aggregate principal amount
of Securities of this series and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same. No service
charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
Prior to due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.
All terms used in this Security which are defined in the Indenture shall have
the meanings assigned to them in the Indenture.
ARTICLE THREE
Original Issue of Debentures
Section 301. Debentures in the aggregate principal amount of $500,000,000,
may, upon execution of this First Supplemental Indenture, or from time to time
thereafter, be executed by the Company and delivered to the Trustee for
authentication, and the Trustee shall thereupon authenticate and deliver said
Debentures upon a Company Order without any further action by the Company.
ARTICLE FOUR
Paying Agent and Security Registrar
Section 401. Fifth Third Bank will be the Paying Agent and Security
Registrar for the Debentures.
ARTICLE FIVE
Sundry Provisions
Section 501. Except as otherwise expressly provided in this First
Supplemental Indenture or in the form of Debenture or otherwise clearly required
by the context hereof or thereof, all terms used herein or in said form of
Debenture that are defined in the Indenture shall have the several meanings
respectively assigned to them thereby.
Section 502. The Indenture, as supplemented by this First Supplemental
Indenture, is in all respects ratified and confirmed, and this First
Supplemental Indenture shall be deemed part of the Indenture in the manner and
to the extent herein and therein provided.
This instrument may be executed in any number of counterparts, each of
which so executed shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument.
In Witness Whereof, the parties hereto have caused this First Supplemental
Indenture to be duly executed as of the day and year first above written.
CINERGY CORP.
By /s/ Xxxxx X. Xxxxxxxx
Xxxxx X. Xxxxxxxx
Assistant Treasurer
FIFTH THIRD BANK, as Trustee
By /s/ Xxxxxxxxx X. Xxxxxx
Xxxxxxxxx X. Xxxxxx
Vice President