Exhibit 4.9
CENTERPOINT ENERGY RESOURCES
CORP.
(formerly known as NorAm Energy
Corp.)
To
THE BANK OF NEW YORK TRUST COMPANY,
NATIONAL ASSOCIATION
(successor to JPMorgan Chase Bank,
National Association
(formerly Chase Bank of Texas,
National Association)),
Trustee
__________________
SUPPLEMENTAL INDENTURE NO.
13
Dated as of May 15, 2008
_________________
$300,000,000
6.00% Senior Notes due
2018
CENTERPOINT ENERGY RESOURCES
CORP.
(formerly known as NorAm Energy
Corp.)
SUPPLEMENTAL INDENTURE NO.
13
$300,000,000
6.00% Senior Notes due
2018
SUPPLEMENTAL INDENTURE No. 13, dated as of May
15, 2008, between CENTERPOINT ENERGY RESOURCES CORP., a Delaware
corporation formerly known as NorAm Energy Corp. (the
“Company”), and THE BANK OF NEW YORK TRUST COMPANY,
NATIONAL ASSOCIATION (successor to JPMorgan Chase Bank, National
Association (formerly Chase Bank of Texas, National Association)),
as Trustee (the “Trustee”).
RECITALS
The Company has heretofore executed and
delivered to the Trustee an Indenture, dated as of February 1, 1998
(the “Original Indenture” and, as previously and hereby
supplemented and amended, the “Indenture”), providing
for the issuance from time to time of one or more series of the
Company’s Securities.
The Company has changed its name from
“NorAm Energy Corp.” to “CenterPoint Energy
Resources Corp.” and all references in the Indenture to the
“Company” or “NorAm Energy Corp.” shall be
deemed to refer to CenterPoint Energy Resources Corp.
Pursuant to the terms of the Indenture, the
Company desires to provide for the establishment of a new series of
Securities to be designated as the “6.00% Senior Notes due
2018” (the “Notes”), the form and substance of
such Notes and the terms, provisions and conditions thereof to be
set forth as provided in the Original Indenture and this
Supplemental Indenture No. 13.
Section 301 of the Original Indenture provides
that various matters with respect to any series of Securities
issued under the Indenture may be established in an indenture
supplemental to the Indenture.
Subparagraph (7) of Section 901 of the Original
Indenture provides that the Company and the Trustee may enter into
an indenture supplemental to the Indenture to establish the form or
terms of Securities of any series as permitted by Sections 201 and
301 of the Original Indenture.
For and in consideration of the premises and the
issuance of the series of Securities provided for herein, it is
mutually covenanted and agreed, for the equal and proportionate
benefit of the Holders of the Securities of such series, as
follows:
Relation to Indenture; Additional
Definitions
Section 101. Relation to
Indenture . This Supplemental Indenture No. 13
constitutes an integral part of the Original Indenture.
Section 102. Additional
Definitions . For all purposes of this Supplemental
Indenture No. 13:
Capitalized terms used herein shall have the
meaning specified herein or in the Original Indenture, as the case
may be;
“Acquired Entity” has the meaning
set forth in Section 303(k) hereof;
“Capital Lease” means a lease that,
in accordance with accounting principles generally accepted in the
United States of America, would be recorded as a capital lease on
the balance sheet of the lessee;
“Comparable Treasury Yield” has the
meaning set forth in Section 402(a) hereof;
“Consolidated Net Tangible Assets”
means the total amount of assets of the Company and its
Subsidiaries less, without duplication: (a) total current
liabilities (excluding indebtedness due within 12 months);
(b) all reserves for depreciation and other asset valuation
reserves, but excluding reserves for deferred federal income taxes;
(c) all intangible assets such as goodwill, trademarks, trade
names, patents and unamortized debt discount and expense carried as
an asset; and (d) all appropriate adjustments on account of
minority interests of other Persons holding common stock of any
Subsidiary, all as reflected in the Company’s most recent
audited consolidated balance sheet preceding the date of such
determination;
“Corporate Trust Office” means the
principal office of the Trustee at which at any particular time its
corporate trust business shall be administered, as follows: (a) for
payment, registration and transfer of the Securities: 2001 Bryan
Street, 9th Floor, Dallas, Texas 75201, Attention: Bondholder
Communications; telephone (214) 672-5125 or (800) 275-2048;
telecopy: (214) 672-5873; and (b) for all other communications
relating to the Securities: 601 Travis Street, 18th Floor, Houston,
Texas 77002, Attention: Global Corporate Trust; telephone: (713)
483-6817; telecopy: (713) 483-7038;
“Equity Interests” means any capital
stock, partnership, joint venture, member or limited liability or
unlimited liability company interest, beneficial interest in a
trust or similar entity or other equity interest or investment of
whatever nature;
“Funded Debt” has the meaning set
forth in Section 304 hereof.
“H.15 Statistical Release” has the
meaning set forth in Section 402(b) hereof;
The term “indebtedness,” as applied
to the Company or any Subsidiary, means bonds, debentures, notes
and other instruments or arrangements representing obligations
created or assumed by any such corporation, including any and
all: (i) obligations for money borrowed
(other than
unamortized debt discount or premium); (ii) obligations
evidenced by a note or similar instrument given in connection with
the acquisition of any business, properties or assets of any kind;
(iii) obligations as lessee under a Capital Lease; and
(iv) any amendments, renewals, extensions, modifications and
refundings of any such indebtedness or obligation listed in clause
(i), (ii) or (iii) above. All indebtedness secured by a
lien upon property owned by the Company or any Subsidiary and upon
which indebtedness any such corporation customarily pays interest,
although any such corporation has not assumed or become liable for
the payment of such indebtedness, shall for all purposes hereof be
deemed to be indebtedness of any such corporation. All
indebtedness for borrowed money incurred by other Persons which is
directly guaranteed as to payment of principal by the Company or
any Subsidiary shall for all purposes hereof be deemed to be
indebtedness of the Company or any such Subsidiary, as applicable,
but no other contingent obligation of the Company or any such
Subsidiary in respect of indebtedness incurred by other Persons
shall for any purpose be deemed to be indebtedness of the Company
or any such Subsidiary;
“Independent Investment Banker” has
the meaning set forth in Section 401(c) hereof;
“Interest Payment Date” has the
meaning set forth in Section 204(a) hereof;
“Issue Date” has the meaning set
forth in Section 204(a) hereof;
“lien” or “liens” have
the meanings set forth in Section 303 hereof;
“Long-Term Indebtedness” means,
collectively, the Company’s outstanding:
(a) 7.875% Senior Notes due 2013, (b) 5.95%
Senior Notes due 2014, and (c) any long-term indebtedness (but
excluding for this purpose any long-term indebtedness incurred
pursuant to any revolving credit facility, letter of credit
facility or other similar bank credit facility) of the Company
issued subsequent to the issuance of the Notes and prior to the
Termination Date containing covenants substantially similar to the
covenants set forth in Sections 303 and 304 hereof, or an event of
default substantially similar to the event of default set forth in
Section 501(a) hereof, but not containing a provision substantially
similar to the provision set forth in Section 305
hereof;
“Make-Whole Premium” has the meaning
set forth in Section 401(b) hereof;
“Maturity Date” has the meaning set
forth in Section 203 hereof;
“Non-Recourse Debt” means (i) any
indebtedness for borrowed money incurred by any Project Finance
Subsidiary to finance the acquisition, improvement, installation,
design, engineering, construction, development, completion,
maintenance or operation of, or otherwise to pay costs and expenses
relating to or providing financing for, any project, which
indebtedness for borrowed money does not provide for recourse
against the Company or any Subsidiary of the Company (other than a
Project Finance Subsidiary and such recourse as exists under a
Performance Guaranty) or any property or asset of the Company or
any Subsidiary of the Company (other than Equity Interests in, or
the property or assets of, a Project Finance Subsidiary and such
recourse as exists under a Performance Guaranty) and (ii) any
refinancing of such indebtedness for borrowed money that does not
increase the outstanding principal amount thereof (other than to
pay costs incurred in connection therewith and the capitalization
of any
interest or
fees) at the time of the refinancing or increase the property
subject to any lien securing such indebtedness for borrowed money
or otherwise add additional security or support for such
indebtedness for borrowed money.
“Notes” has the meaning set forth in
the third paragraph of the Recitals hereof;
“Original Indenture” has the meaning
set forth in the first paragraph of the Recitals hereof;
“Performance Guaranty” means any
guaranty issued in connection with any Non-Recourse Debt that (i)
if secured, is secured only by assets of or Equity Interests in a
Project Finance Subsidiary, and (ii) guarantees to the provider of
such Non-Recourse Debt or any other person (a) performance of the
improvement, installation, design, engineering, construction,
acquisition, development, completion, maintenance or operation of,
or otherwise affects any such act in respect of, all or any portion
of the project that is financed by such Non-Recourse Debt, (b)
completion of the minimum agreed equity or other contributions or
support to the relevant Project Finance Subsidiary, or (c)
performance by a Project Finance Subsidiary of obligations to
persons other than the provider of such Non-Recourse
Debt.
“Principal Property” means any
natural gas distribution property, natural gas pipeline or gas
processing plant located in the United States, except any such
property that in the opinion of the Board of Directors is not of
material importance to the total business conducted by the Company
and its consolidated Subsidiaries. “Principal
Property” shall not include any oil or gas property or the
production or proceeds of production from an oil or gas producing
property or the production or any proceeds of production of gas
processing plants or oil or gas or petroleum products in any
pipeline or storage field;
“Project Finance Subsidiary” means
any Subsidiary designated by the Company whose principal purpose is
to incur Non-Recourse Debt and/or construct, lease, own or operate
the assets financed thereby, or to become a direct or indirect
partner, member or other equity participant or owner in a Person
created for such purpose, and substantially all the assets of which
Subsidiary or Person are limited to (x) those assets being financed
(or to be financed), or the operation of which is being financed
(or to be financed), in whole or in part by Non-Recourse Debt, or
(y) Equity Interests in, or indebtedness or other obligations of,
one or more other such Subsidiaries or Persons, or (z) indebtedness
or other obligations of the Company or any Subsidiary or other
Persons. At the time of designation of any Project
Finance Subsidiary, the sum of the net book value of the assets of
such Subsidiary and the net book value of the assets of all other
Project Finance Subsidiaries then existing shall not in the
aggregate exceed 10 percent of Consolidated Net Tangible
Assets.
“Redemption Price” has the meaning
set forth in Section 401(a) hereof;
“Regular Record Date” has the
meaning set forth in Section 204(b) hereof;
“Remaining Term” has the meaning set
forth in Section 402(a) hereof;
“Sale and Leaseback Transaction”
means any arrangement entered into by the Company or any Subsidiary
with any Person providing for the leasing to the Company or any
Subsidiary of
any Principal
Property (except for temporary leases for a term, including any
renewal thereof, of not more than three years and except for leases
between the Company and a Subsidiary or between Subsidiaries),
which Principal Property has been or is to be sold or transferred
by the Company or such Subsidiary to such Person;
“Significant Subsidiary” means any
Subsidiary of the Company, other than a Project Finance Subsidiary,
that is a “significant subsidiary” as defined in Rule
1-02 of Regulation S-X under the Securities Act of 1933 and the
Securities Exchange Act of 1934, as such regulation is in effect on
the date of issuance of the Notes.
“Subsidiary” of any entity means any
corporation, partnership, joint venture, limited liability company,
trust or estate of which (or in which) more than 50% of
(i) the issued and outstanding capital stock having ordinary
voting power to elect a majority of the Board of Directors of such
corporation (irrespective of whether at the time capital stock of
any other class or classes of such corporation shall or might have
voting power upon the occurrence of any contingency), (ii) the
interest in the capital or profits of such limited liability
company, partnership, joint venture or other entity or (iii) the
beneficial interest in such trust or estate is at the time directly
or indirectly owned or controlled by such entity, by such entity
and one or more of its other subsidiaries or by one or more of such
entity’s other subsidiaries.
“Termination Date” has the meaning
set forth in Section 305.
“Value” with respect to a Sale and
Leaseback Transaction has the meaning set forth in Section 303
hereof;
All references herein to Articles and Sections,
unless otherwise specified, refer to the corresponding Articles and
Sections of this Supplemental Indenture No. 13; and
The terms “herein,”
“hereof,” “hereunder” and other words of
similar import refer to this Supplemental Indenture No.
13.
The Series of Securities
Section 201. Title of the
Securities. The Notes shall be designated as the “6.00%
Senior Notes due 2018.”
Section 202. Limitation on
Aggregate Principal Amount. The Trustee shall
authenticate and deliver the Notes for original issue on the Issue
Date in the aggregate principal amount of $300,000,000 upon a
Company Order for the authentication and delivery thereof and
satisfaction of Sections 301 and 303 of the Original
Indenture. Such order shall specify the amount of the
Notes to be authenticated, the date on which the original issue of
Notes is to be authenticated and the name or names of the initial
Holder or Holders. The aggregate principal amount of
Notes that may initially be outstanding shall not exceed
$300,000,000; provided , however , that the
authorized aggregate principal amount of the Notes may be increased
above such amount by a Board Resolution to such effect.
Section 203. Stated Maturity.
The Stated Maturity of the Notes shall be May 15, 2018
(the “Maturity Date”).
Section 204. Interest and
Interest Rates .
(a) The
Notes shall bear interest at the rate of 6.00% per annum, from and
including May 15, 2008 (the “Issue Date”) to, but
excluding, the Maturity Date. Such interest shall be
payable semiannually in arrears, on May 15 and November 15, of each
year (each such date, an “Interest Payment Date”),
commencing November 15, 2008.
(b) The
interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date shall be paid to the Persons in whose
names the Notes (or one or more Predecessor Securities) are
registered at the close of business on the immediately preceding
May 1 and November 1, respectively, whether or not such day is a
Business Day (each such date, a “Regular Record
Date”). Any such interest not so punctually paid
or duly provided for shall forthwith cease to be payable to the
Holder on such Regular Record Date and shall either (i) be paid to
the Person in whose name such Note (or one or more Predecessor
Securities) is registered at the close of business on the Special
Record Date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holders of the
Notes not less than 10 days prior to such Special Record Date, or
(ii) be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange or
automated quotation system on which the Notes may be listed or
traded, and upon such notice as may be required by such exchange or
automated quotation system, all as more fully provided in the
Indenture.
(c) The
amount of interest payable for any period shall be computed on the
basis of a 360-day year of twelve 30-day months. The amount of
interest payable for any partial period shall be computed on the
basis of a 360-day year of twelve 30-day months and the days
elapsed in any partial month. In the event that any date on which
interest is payable on a Note is not a Business Day, then a payment
of the interest payable on such date will be made on the next
succeeding day which is a Business Day (and without any interest or
other payment in respect of any such delay) with the same force and
effect as if made on the date the payment was originally
payable.
(d) Any
principal and premium, if any, and any installment of interest,
which is overdue shall bear interest at the rate of 6.00% per annum
(to the extent permitted by law), from the dates such amounts are
due until they are paid or made available for payment, and such
interest shall be payable on demand.
Section 205. Place of
Payment. The Trustee shall initially serve as the
Paying Agent for the Notes. The Place of Payment where
the Notes may be presented or surrendered for payment shall be the
Corporate Trust Office of the Trustee.
Section 206. Place of
Registration or Exchange; Notices and Demands With Respect to the
Notes. The place where the Holders of the Notes may
present the Notes for registration of transfer or exchange and may
make notices and demands to or upon the Company in respect of the
Notes shall be the Corporate Trust Office of the
Trustee.
Section 207. Percentage of
Principal Amount. The Notes shall be initially
issued at 99.171% of their principal amount plus accrued interest,
if any, from May 15, 2008.
Section 208. Global
Securities. The Notes shall be issuable in whole or
in part in the form of one or more Global
Securities. Such Global Securities shall be deposited
with, or on behalf of, The Depository Trust Company, New York, New
York, which shall act as Depositary with respect to the
Notes. Such Global Securities shall
bear the legends set forth in the form of Security attached as
Exhibit A hereto.
Section 209. Form of
Securities. The Notes shall be substantially in the
form attached as Exhibit A hereto.
Section 210. Securities
Registrar. The Trustee shall initially serve as the
Security Registrar for the Notes.
Section 211. Defeasance and
Discharge; Covenant Defeasance .
(a) Article
Fourteen of the Original Indenture, including without limitation,
Sections 1402 and 1403 (as modified by Section 211(b) hereof)
thereof, shall apply to the Notes.
(b) Solely
with respect to the Notes issued hereby, the first sentence of
Section 1403 of the Original Indenture is hereby deleted in its
entirety, and the following is substituted in lieu
thereof:
“Upon the
Company’s exercise of its option (if any) to have this
Section applied to any Securities or any series of Securities, as
the case may be, (1) the Company shall be released from its
obligations under Article Eight and under any covenants provided
pursuant to Section 301(20), 901(2) or 901(7) for the benefit of
the Holders of such Securities, including, without limitation, the
covenants provided for in Article Three of Supplemental Indenture
No. 13 to the Indenture, and (2) the occurrence of any event
specified in Sections 501(4) (with respect to Article Eight and to
any such covenants provided pursuant to Section 301(20), 901(2) or
901(7)) and 501(7) shall be deemed not to be or result in an Event
of Default, in each case with respect to such Securities as
provided in this Section on and after the date the conditions set
forth in Section 1404 are satisfied (hereinafter called
“Covenant Defeasance”).”
Section 212. Sinking Fund
Obligations. The Company shall have no obligation
to redeem or purchase any Notes pursuant to any sinking fund or
analogous requirement or upon the happening of a specified event or
at the option of a Holder thereof.
Additional Covenants
Section 301. Maintenance of
Properties. The Company shall cause all properties
used or useful in the conduct of its business or the business of
any Subsidiary to be maintained and kept in good condition, repair
and working order and supplied with all necessary equipment and
shall cause to be made all necessary repairs, renewals,
replacements, betterments and improvements thereof, all as in the
judgment of the Company may be necessary so that the business
carried on in connection therewith may be properly conducted at all
times; provided , however , that nothing in this
Section shall prevent the Company from discontinuing the operation
or maintenance of any of such properties if such discontinuance is,
in the judgment of the Company, desirable in the conduct of its
business or the business of any Subsidiary.
Section 302. Payment of Taxes and
Other Claims. The Company shall pay or discharge or
cause to be paid or discharged, before the same shall become
delinquent, (1) all taxes, assessments and governmental charges
levied or imposed upon the Company or any Subsidiary or upon the
income, profits or property of the Company or any Subsidiary, and
(2) all lawful claims for labor, materials and supplies which, if
unpaid, might by law become a lien upon the property of the Company
or any Subsidiary; provided , however , that the
Company shall not be required to pay or discharge or cause to be
paid or discharged any such tax, assessment, charge or claim whose
amount, applicability or validity is being contested in good faith
by appropriate proceedings.
Section 303. Restrictions on
Liens. The Company shall not pledge, mortgage or
hypothecate, or permit to exist, and shall not cause, suffer or
permit any Subsidiary to pledge, mortgage or hypothecate, or permit
to exist, except in favor of the Company or any Subsidiary, any
mortgage, deed of trust, pledge, hypothecation, assignment, deposit
arrangement, charge, security interest, encumbrance or lien of any
kind whatsoever (including any Capital Lease) (collectively, a
“lien” or “liens”) upon, any Principal
Property or any Equity Interest in any Significant Subsidiary
owning any Principal Property, at any time owned by it or a
Subsidiary, to secure any indebtedness, without making effective
provisions whereby the Notes shall be equally and ratably secured
with or prior to any and all such indebtedness and any other
indebtedness similarly entitled to be equally and ratably secured;
provided , however , that this provision shall not
apply to or prevent the creation or existence of:
(a) undetermined
or inchoate liens and charges incidental to construction,
maintenance, development or operation;
(b) the
lien of taxes and assessments for the then current year;
(c) the
lien of taxes and assessments not at the time
delinquent;
(d) the
lien of specified taxes and assessments which are delinquent but
the validity of which is being contested at the time by the Company
or such Subsidiary in good faith and by appropriate
proceedings;
(e) any
obligations or duties, affecting the property of the Company or
such Subsidiary, to any municipality or public authority with
respect to any franchise, grant, license, permit or similar
arrangement;
(f) the
liens of any judgments or attachment in an aggregate amount not in
excess of $10,000,000, or the lien of any judgment or attachment
the execution or enforcement of which has been stayed or which has
been appealed and secured, if necessary, by the filing of an appeal
bond;
(g) any
lien on any property held or used by the Company or a Subsidiary in
connection with the exploration for, development of or production
of oil, gas, natural gas (including liquefied gas and storage gas),
other hydrocarbons, helium, coal, metals, minerals, steam, timber,
geothermal or other natural res