Exhibit 1(c)
THE EMPIRE DISTRICT ELECTRIC COMPANY
FIRST MORTGAGE BONDS
STANDARD PURCHASE PROVISIONS
INCLUDING
FORM OF PURCHASE AGREEMENT
<PAGE>
The Empire District Electric Company
Form of Purchase Agreement
First Mortgage Bonds
-------------------
(Date)
The Empire District Electric Company
602 Joplin Street
Joplin, Missouri 64801
Ladies and Gentlemen:
We refer to the
First Mortgage Bonds of The Empire District Electric
Company (the "Company"), a Kansas
corporation, covered by Registration Statement
No. 333-______, which became effective on
_________________ (the "Registration
Statement"). On the basis of the
representations, warranties and agreements
contained in this Agreement, but subject to
the terms and conditions herein set
forth, the purchaser or purchasers named in
Schedule A hereto (the "Purchasers")
agree to purchase, severally, and the
Company agrees to sell to the Purchasers,
severally, the respective principal amounts
of the Company's First Mortgage
Bonds referred to below (the "Purchased
Bonds") set forth opposite the name of
each Purchaser on Schedule A hereto.
The price at
which the Purchased Bonds shall be purchased from the Company
by the Purchasers shall be ______% plus
accrued interest, if any, from
____________. The initial public offering
price shall be _____% plus accrued
interest, if any, from ______________. The
Purchased Bonds will be offered as
set forth in the Prospectus Supplement
relating to such Purchased Bonds.
The Purchased Bonds will have the following terms:
Title of Bonds:
Interest Rate:
___% per annum
Interest Payment Dates:
______________
Maturity:
______________
Redemption Provisions:
______________
Sinking Fund:
______________
The "Closing Date" (as defined in
Section 2 of the Company's Standard
Purchase Provisions
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-- First Mortgage
Bonds) shall be:
______________
The closing of the purchase and sale
of the Purchased Bonds shall take
place at:
______________
The purchase price for the Purchased
Bonds shall be paid by:
______________
The funds used to pay for the
Purchased Bonds shall be:
______________
Other:
______________
Delayed Delivery
[Authorized]/[Not
Contracts:
authorized]
[Delivery Date
______________
Minimum principal amount of
Purchased Bonds to be sold
pursuant to any Delayed Delivery
Contract:
______________
Maximum aggregate principal amount
of Purchased Bonds to be
sold pursuant to all Delayed
Delivery Contracts:
______________
Compensation to Purchasers:
______________](a)
Notice to the
Purchasers shall be sent to the addresses as set forth on
Schedule A hereto.
If we are acting
as Representative(s) for the several Purchasers named in
Schedule A hereto, we represent that we are
authorized to act for such several
Purchasers in connection with this
financing, and that, if there are more than
one of us, any action under this Agreement
taken by any of us will be binding
upon all the Purchasers.
----------
(a) To be used if Delayed Delivery
Contracts are authorized.
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All of the
provisions contained in the document entitled "The Empire
District Electric Company, Standard
Purchase Provisions--First Mortgage Bonds,"
a copy of which has been previously
furnished to us (the "Standard Purchase
Provisions"), are hereby incorporated by
reference in their entirety and shall
be deemed to be a part of this Agreement to
the same extent as if such
provisions had been set forth in full
herein.
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If the foregoing
is in accordance with your understanding of our agreement,
kindly sign and return to us the enclosed
duplicate hereof, whereupon it will
become a binding agreement between the
Company and the several Purchasers in
accordance with its terms.
Very truly yours,
[NAME OF PURCHASER]
By:
----------------------------------------
Name:
Title:
Acting on behalf of itself and as
Representative(s) of the several
Purchasers named in
Schedule A hereto.(a)
The foregoing Purchase
Agreement is hereby confirmed
as of the date first above written
THE EMPIRE DISTRICT ELECTRIC COMPANY
By: _______________________________
Name:
Title:
----------
(a) To be deleted if the Purchase
Agreement is not executed by one or more
Purchasers
acting as Representative(s) of the Purchasers for purposes of
this
Agreement.
<PAGE>
SCHEDULE A TO PURCHASE AGREEMENT
Principal Amount
Address and
of Purchased Bonds
Name
Telecopier Number
to Be Purchased
----
-----------------
---------------
---------------
Total
$
===============
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THE EMPIRE DISTRICT ELECTRIC COMPANY
STANDARD PURCHASE PROVISIONS -- FIRST MORTGAGE BONDS
From time to
time, The Empire District Electric Company, a Kansas
corporation ("Company"), may enter into
purchase agreements that provide for the
sale of a designated series of First
Mortgage Bonds to the purchaser or
purchasers named therein. The standard
provisions set forth herein may be
incorporated by reference in any such
purchase agreement ("Purchase Agreement").
The Purchase Agreement, including the
provisions incorporated therein by
reference, is herein sometimes referred to
as "this Agreement." Unless otherwise
defined herein, terms defined in the
Purchase Agreement are used herein as
therein defined.
1. Introductory.
The Company proposes to issue and sell from time to time
First Mortgage Bonds registered under the
registration statement referred to in
Section 3(a) ("Bonds"). The Bonds will be
issued under an Indenture of Mortgage
and Deed of Trust, dated as of September 1,
1944 ("Original Mortgage"), by and
between the Company and The Bank of New
York and UMB Bank & Trust, N.A., as
trustees ("Trustees"), as supplemented and
amended, including by a supplemental
indenture ("Supplemental Indenture")
pertaining to the particular series of
Bonds involved in the offering (the
Original Mortgage as so amended and
supplemented, the "Indenture") and will
have varying designations, interest
rates and terms of payment of interest,
maturities, redemption and sinking fund
provisions, if any, and other terms, with
all of such terms for any particular
series of Bonds being determined at the
time of sale and being as set forth in
the Purchase Agreement and Supplemental
Indenture relating to such series of
Bonds. The Bonds referred to in Schedule A
of the Purchase Agreement are
hereinafter referred to as the "Purchased
Bonds." The firm or firms, as the case
may be, which agree to purchase the
Purchased Bonds are hereinafter referred to
as the "Purchasers" of such Purchased
Bonds. The terms "you" and "your" refer to
those Purchasers (or the Purchaser) who
sign the Purchase Agreement either on
behalf of themselves (or itself) only or on
behalf of the several Purchasers
named in Schedule A thereto, as the case
may be. Purchased Bonds to be purchased
by Purchasers are herein referred to as
"Purchasers' Bonds," and any Purchased
Bonds to be purchased pursuant to Delayed
Delivery Contracts (as defined below)
as hereinafter provided are herein referred
to as "Contract Bonds."
2. Sale and
Delivery of the Bonds. Subject to the terms and conditions set
forth in this Agreement, the Company will
deliver the Purchasers' Bonds to you
for the account of the Purchasers, at the
place set forth in the Purchase
Agreement against payment of the purchase
price therefor by wire transfer or
certified or official bank check or checks
in immediately available funds or
clearing house funds payable to the order
of the Company, all as set forth in
the Purchase Agreement, at the time set
forth in the Purchase Agreement or at
such other time not later than seven full
business days thereafter as you and
the Company determine, such time being
herein referred to as the "Closing Date."
The Company agrees to make available to you
for inspection and packaging at the
place set forth in the Purchase Agreement,
at least one full business day prior
to the Closing Date, the Purchasers' Bonds
so to be delivered in good delivery
form and in such denominations and
registered in such names as you shall have
requested, all such requests to have been
made in writing at least three full
<PAGE>
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business days prior to the Closing Date, or
if no such request is made,
registered in the names of the several
Purchasers as set forth in Schedule A to
the Purchase Agreement.
If any Purchase
Agreement provides for sales of Purchased Bonds pursuant to
delayed delivery contracts, the Company
authorizes the Purchasers to solicit
offers to purchase Contract Bonds pursuant
to delayed delivery contracts
substantially in the form of Schedule I
attached hereto (the "Delayed Delivery
Contracts") with such changes therein as
the Company may approve. Delayed
Delivery Contracts are to be with
institutional investors, including commercial
and savings banks, insurance companies,
pension funds, investment companies, and
educational and charitable institutions.
Each Delayed Delivery Contract shall
provide for the purchase and sale of a
principal amount of Contract Bonds not
less than the amount set forth in the
Purchase Agreement and the aggregate
principal amount of all Contract Bonds
shall not exceed the amount set forth in
the Purchase Agreement. On the Closing
Date, the Company will pay you as
compensation, for the accounts of the
Purchasers, the compensation set forth in
such Purchase Agreement in respect of the
principal amount of Contract Bonds.
The Purchasers will not have any
responsibility in respect of the validity or
the performance of Delayed Delivery
Contracts. If the Company executes and
delivers Delayed Delivery Contracts, the
Contract Bonds shall be deducted from
the Purchased Bonds to be purchased by the
several Purchasers and the aggregate
principal amount of Purchased Bonds to be
purchased by each Purchaser shall be
reduced pro rata in proportion to the
principal amount of Purchased Bonds set
forth opposite each Purchaser's name in
such Purchase Agreement, except to the
extent that you determine that such
reduction shall be otherwise allocated and
so advise the Company.
3.
Representations and Warranties of the Company. The Company
represents
and warrants to each Purchaser that:
(a) The registration statement referred to in the Purchase
Agreement
and relating to
the Bonds, including a prospectus and all documents
incorporated by
reference therein, has been filed on Form S-3 with the
Securities and
Exchange Commission ("Commission") and has become effective.
Such
registration statement, including the prospectus supplement
with
respect to the
offering of Purchased Bonds referred to in Section 2 (the
"Prospectus
Supplement") and all prior amendments and supplements thereto
(other than
supplements and amendments relating to securities that are not
Purchased
Bonds), including all documents filed as a part thereof or
incorporated
therein pursuant to Item 12 of Form S-3 (other than the
Statements of
Eligibility and Qualification of the Trustees (the "Forms
T-1")), is
hereinafter referred to as the "Registration Statement" and
such
prospectus, as
so amended or supplemented (including all material so
incorporated by
reference therein) in the form first filed by the Company
pursuant to Rule
424(b) under the Act is hereinafter referred to as the
"Prospectus."
(b) The Registration Statement and the Prospectus conform in
all
respects to the
requirements of the Securities Act of 1933, as amended
("Act"), the
Trust Indenture Act of 1939, as amended ("Trust Indenture
Act"), and the
pertinent published rules and regulations ("Rules and
Regulations") of
the Commission, and none of such documents includes any
untrue statement
of a material fact or omits to state any material fact
required to be
stated therein or necessary to make the statements therein
not misleading,
except that the foregoing
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does not apply
to statements or omissions in either of such documents based
upon written
information furnished to the Company by any Purchaser
specifically for
use therein. The documents incorporated by reference in
the Registration
Statement or the Prospectus pursuant to Item 12 of Form
S-3 of the Act,
at the time they were filed with the Commission, complied
in all material
respects with the requirements of the Securities Exchange
Act of 1934, as
amended (the "Exchange Act"), and the pertinent published
rules and
regulations thereunder (the "Exchange Act Rules and
Regulations")
and any
additional documents deemed to be incorporated by reference in
the
Prospectus will,
when they are filed with the Commission, comply in all
material
respects with the requirements of the Exchange Act and the
Exchange Act
Rules and Regulations and will not contain an untrue statement
of a material
fact or omit to state a material fact required to be stated
therein or
necessary to make the statements therein, in light of the
circumstances
under which they were made, not misleading.
(c) The Company has an authorized capitalization as set forth in
the
Prospectus.
(d) The Company has been duly incorporated and is validly existing
as
a corporation in
good standing under the laws of the State of Kansas, with
full corporate
power and authority to own, lease and operate its properties
and conduct its
business as described in the Registration Statement and the
Prospectus.
(e) The Company is duly qualified to do business as a foreign
corporation and
in good standing in each jurisdiction where the ownership
or leasing of
its properties or the conduct of its businesses requires such
qualification,
except where the failure to so qualify would not reasonably
be expected to have a
material adverse effect on the business, properties,
financial
condition or results of operation of the Company and its
subsidiaries
taken as a whole (a "Material Adverse Effect"). The Company
has no
"significant subsidiary," as such term is defined in Rule 405 of
the
Rules and
Regulations.
(f) The Company (1) is not in violation of its charter or by-laws,
(2)
is not in
default in any material respect, and no event has occurred
which,
with notice or
lapse of time or both, would constitute such a default, in
the due
performance or observance of any term, covenant or condition
contained in any
material indenture, mortgage, deed of trust, loan
agreement or
other agreement or instrument to which it is a party or by
which it is
bound or to which any of its properties or assets is subject
and (3) is not
in violation in any material respect of any law, ordinance,
governmental
rule, regulation or court decree to which it or its property
or assets may be
subject and has not failed to obtain any material license,
permit,
certificate, franchise or other governmental authorization or
permit necessary
to the ownership of its property or to the conduct of its
business, except, in the case of
clause (2) or (3) above, for any such
default,
violation or failure that would not reasonably be expected to
result in a
Material Adverse Effect.
(g) The execution, delivery and performance of this Agreement and
the
issuance of the
Purchased Bonds and consummation of the transactions
contemplated
hereby will not conflict with, or result in any breach of or
constitute a
default under (nor constitute any event which with notice,
lapse of time,
or both would result in any breach of, or constitute a
default
<PAGE>
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under), any
provisions of the charter or by-laws of the Company or under
any provision of
any license, indenture, mortgage, deed of trust, bank loan
or credit
agreement or other evidence of indebtedness, or any lease,
contract or
other agreement or instrument to which the Company is a party
or by which it
or its respective properties may be bound or affected, or
under any
federal, state, local or foreign law, regulation or rule or any
decree, judgment
or order applicable to the Company, except for any such
conflict, breach
or default which would not reasonably be expected to
result in a
Material Adverse Effect.
(h) The Indenture has been duly authorized by the Company and is
a
legal, valid and
binding agreement of the Company enforceable in accordance
with its terms,
except as the enforceability thereof may be limited by
bankruptcy,
insolvency, reorganization, moratorium or similar laws
affecting
creditors' rights generally and general principles of equity.
(i) The Purchased Bonds have been duly authorized by the Company
and
when executed
and delivered by the Company against payment therefore in
accordance with
the Agreement will constitute legal, valid and binding
obligations of
the Company enforceable in accordance with their terms,
except as the
enforceability thereof may be limited by bankruptcy,
insolvency,
reorganization, moratorium or similar laws affecting creditors'
rights generally
and general principles of equity.
(j) This Agreement has been duly authorized, executed and delivered
by
the Company.
(k) The Purchased Bonds and the Indenture conform in all
material
respects to the
descriptions thereof contained in the Registration
Statement and
Prospectus.
(l) The Company has obtained or made all approvals,
authorizations,
consents or
orders of or filings with any national, state or local
governmental or
regulatory commission, board, body, authority or agency
required in
connection with the issuance and sale of the Purchased Bonds or
the consummation
by the Company of the transactions as contemplated hereby
other than any
necessary qualification under the securities or blue sky
laws of the
various jurisdictions in which the Purchased Bonds are being
offered by the
Purchasers.
(m)
There are no actions, suits, claims, investigations or
proceedings
pending or
threatened to which the Company or any of its officers is a
party or of
which any of its properties is subject, at law, in equity, or
before or by any
federal, state, local or foreign governmental or
regulatory
commission, board, body, authority or agency which would
reasonably be
expected to result in a Material Adverse Effect or prevent
consummation of
the transactions contemplated hereby.
(n) The audited financial statements included in the
Registration
Statement and
the Prospectus present fairly in all material respects the
consolidated
financial position of the Company as of the dates indicated
and the
consolidated results of operations and cash flows of the
Company
for the periods
specified; such financial statements have been prepared in
conformity with
generally accepted accounting principles applied on a
consistent basis
during
<PAGE>
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the periods
involved, except as otherwise set forth therein. The interim
unaudited
financial statements included in the Registration Statement and
the Prospectus
present fairly in all material respects the consolidated
financial
position of the Company as of the dates indicated and the
consolidated
results of operations and cash flows of the Company for the
periods
specified subject to year-end adjustments; such financial
statements have
been prepared in conformity with generally accepted
accounting
principles applied on a consistent basis during the periods
involved, except
as otherwise set forth therein.
(o) The accountants who certified the audited financial statements
of
the Company and
supporting schedules and notes thereto incorporated by
reference in the
Prospectus are an independent registered public accounting
firm with
respect to the Company within the meaning of the Act and the
applicable rules
and regulations thereunder adopted by the Commission and
the Public
Company Accounting Oversight Board (the "PCAOB").
(p) The Company is not, and, as of the Closing Date after
giving
effect to the
application of the net proceeds as described in the
Prospectus, will
not be, an "investment company" as defined in the
Investment
Company Act of 1940, as amended.
(q) The Company, and its directors and officers in their capacity
as
such, have each
complied, and currently are in compliance, in all material
respects with
the Sarbanes-Oxley Act of 2002 and all rules and regulations
of the
Commission and the New York Stock Exchange issued or adopted in
connection
therewith.
(r) There has been no storage, disposal, generation,
manufacture,
refinement,
transportation, handling or treatment of toxic wastes, medical
wastes,
hazardous wastes or hazardous substances by the Company or any
of
its subsidiaries
(or, to the actual knowledge of the Company, any of their
predecessors in
interest) at, upon or from any of the property now or
previously owned
or leased by the Company or its subsidiaries in violation
of any
applicable law, ordinance, rule, regulation, order, judgment,
decree
or permit or
which would require remedial action under any applicable law,
ordinance, rule,
regulation, order, judgment, decree or permit, except for
any violation or
remedial action which would not reasonably be expected to
have, singularly or in the
aggregate with all such violations and remedial
actions, a
Material Adverse Effect; there has been no material spill,
discharge, leak,
emission, injection, escape, dumping or release of any
kind onto such
property or into the environment surrounding such property
of any toxic
wastes, medical wastes, solid wastes, hazardous wastes or
hazardous
substances due to or caused by the Company or any of its
subsidiaries or
with respect to which the Company or any of its
subsidiaries
have actual knowledge, except for any such spill, discharge,
leak, emission,
injection, escape, dumping or release which would not
reasonably be
expected to have, singularly or in the aggregate with all
such spills,
discharges, leaks, emissions, injections, escapes, dumpings
and releases, a
Material Adverse Effect; and the terms "hazardous wastes,"
"toxic wastes,"
"hazardous substances" and "medical wastes" shall have the
meanings
specified in any applicable local, state, federal and foreign
laws
or regulations
with respect to environmental protection.
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(s) The Company has established and maintains disclosure controls
and
procedures (as
such term is defined in Rule 13a-15 and 15d-15 under the
Exchange Act)
and (i) such disclosure controls and procedures are designed
to ensure that
material information relating to the Company, including its
consolidated
subsidiaries, is made known to the Company's Chief Executive
Officer and its
Chief Financial Officer by others within those entities;
(ii) such
disclosure controls and procedures are effective to perform the
functions for
which they were established; and (iii) since the date of the
most recent
evaluation there have been no changes in the Company's internal
control over
financial reporting that have materially affected, or are
reasonably
likely to materially affect the Company's internal control over
financial
reporting. Based on the most recent evaluation of internal
control over
financial reporting, the Company's auditors and the Audit
Committee of the
Board of Directors have been advised of: (i) all
significant
deficiencies and material weaknesses in the design or operation
of internal
control over financial reporting which are reasonably likely to
adversely affect
the Company's ability to record, process, summarize, and
report financial
information; and (ii) any fraud, whether or not material,
that involves
management or other employees who have a significant role in
the Company's
internal control over financial reporting.
(t) Subsequent to the respective dates as of which information
is
given in the
Registration Statement and Prospectus, as supplemented or
amended, there
has been no material adverse change in the financial
position or
results of operations of the Company.
(u) The Company maintains insurance covering its properties,
operations,
personnel and businesses as the Company deems adequate; such
insurance
insures against such losses and risks to an extent which is
adequate, in the
good faith judgment of management, to protect the Company
and its
business.
(v) Any statistical and market-related data included in the
Registration
Statement and the Prospectus are based on or derived from
sources that the
Company believes to be reliable and accurate, and the
Company has
obtained the written consent to the use of such data from such
sources to the
extent required.
4. Agreements of
the Company. The Company agrees with the several
Purchasers that:
(a) The Company will advise you promptly of any proposal to amend
or
supplement the
Registration Statement or the Prospectus with respect to any
Purchased Bonds,
and will furnish you a copy thereof prior to the filing
thereof with the
Commission.
(b) The Company will furnish to you copies of the registration
statement
relating to the Bonds as originally filed and all amendments
thereto (at
least one of which will be signed and will include all exhibits
except those
incorporated by reference to previous filings with the
Commission),
each related prospectus, the Prospectus, and all amendments
and supplements
to such documents (except amendments to exhibits and
supplements
relating to Bonds that are not Purchased Bonds), in each case
as soon as
available and in such quantities as you reasonably request for
the purposes
contemplated by the Act.
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(c) If at any time when a prospectus relating to the Purchased
Bonds
is required to
be delivered under the Act or the Rules and Regulations, any
event occurs as
a result of which the Prospectus as then amended or
supplemented
would include any untrue statement of a material fact, or omit
to state a
material fact necessary to make the statements therein, in
light
of the
circumstances under which made, not misleading, or if it is
necessary at any
time to amend or supplement the Prospectus to comply with
the Act or the
Rules and Regulations, the Company will promptly notify the
Purchasers and
promptly prepare and file with the Commission an amendment
or supplement to
the Registration Statement or any appropriate filing
pursuant to
Section 13 or 14 of the Exchange Act which will correct such
statement or
omission or an amendment which will effect such compliance,
and deliver in
connection therewith, such Prospectus or amendments or
supplements to
the Purchasers in such quantity as may be necessary to
permit
compliance with the requirements of the Act and the Rules and
Regulations,
provided that the Company shall be so obligated only so long
as the Company
is notified of unsold allotments (failure by the Purchasers
to so notify the
Company cancels the Company's obligation under this
Section 4(c)),
and provided further that any such Prospectus or amendment
or supplement
required later than nine months from the date hereof shall be
furnished at the
Purchasers' sole expense.
(d) The Company will cooperate with the Purchasers in taking
such
action as may be
necessary to qualify the Purchased Bonds for offering and
sale under the
securities laws of any state or jurisdiction of the United
States as the
Purchasers may reasonably request and will use its best
efforts to
continue such qualification in effect so long as required for
the distribution
of the Purchased Bonds; provided, however, that the
Company shall
not be required to qualify as a foreign corporation, or to
file a general consent to service
of process, in any such state or
jurisdiction or
to comply with any other requirement deemed by the Company
to be unduly
burdensome.
(e) The Company will make generally available to its security
holders
as soon as
practicable an earning statement (as contemplated by Rule 158
under the Act)
covering a period of twelve months after the effective date
of the
Registration Statement.
(f) For a period of one year, the Company will furnish to you
copies
of any report or
definitive proxy statement which the Company shall file
with the
Commission under the Exchange Act, and copies of all reports
and
communications
which shall be sent to stockholders generally, at or about
the time such
reports and other information are first furnished to
stockholders
generally. For purposes of this clause (f), any information
filed by the
Company on the Commission's EDGAR system will be deemed
furnished to you
in satisfaction of this clause (f).
(g) The Company will apply the net proceeds from the offering of
the
Purchased Bonds
as set forth under the caption "Use of Proceeds" in the
Prospectus
Supplement.
(h) The Company will record and file the Supplemental Indenture
pertaining to
the Purchased Bonds in each place in which such recording or
filing is
required to protect and preserve the lien of the Indenture and
will pay all
taxes and recording fees required to be paid
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with respect to
the execution, recording and filing of the Supplemental
Indenture and
the issuance of the Purchased Bonds.
(i) If a public offering of the Purchased Bonds is to be made,
the
Company will not
offer or sell any of its other debt securities which are
substantially
similar to the Purchased Bonds prior to ten business days
after the
Closing Date without the consent of the Purchasers.
(j) The Company will advise you, promptly after it receives
notice
thereof, of the
issuance by the Commission of any stop order or of any
order preventing
or suspending the use of the Prospectus, of the suspension
of the
qualification of the Purchased Bonds for offering or sale in
any
jurisdiction or
of the initiation or threatening of any proceeding for any
such purpose;
and, in the event of the issuance of any stop order or of any
order preventing
or suspending the use of the Prospectus or suspending any
such
qualification, promptly to use its reasonable best efforts to
obtain
the prompt
withdrawal of such order.
5. Expenses. The
Company and the Purchasers agree as follows:
(a) The Company, whether or not the transactions contemplated
hereunder are
consummated, will (except as provided in Section 4(c) hereof)
pay all costs
and expenses incident to the performance of its obligations
hereunder,
including without limitation, all costs and expenses in
connection with:
(i) the preparation and filing of the Registration
Statement,
Prospectus and Indenture and any supplements or amendments
thereto; (ii)
the preparation, issuance and delivery to the Purchasers of
the Purchasers'
Bonds and the preparation, issuance and delivery to the
purchasers
thereof of the Contract Bonds; (iii) the reproduction or
printing and
mailing in reasonable quantities of the Registration
Statement, the
Supplemental Indenture, amendments thereto, each preliminary
prospectus, the
Prospectus and any amendments or supplements thereto, this
Agreement, any
Blue Sky memoranda and legal investment survey delivered to
the Purchasers;
(iv) reasonable filing fees and expenses (including legal
fees and
disbursements, not in excess of $5,000) incurred in connection
with the
qualification of the Purchased Bonds under the Blue Sky or
securities laws
of the various states, and the preparation of Blue Sky
memoranda and
legal investment survey for the offering; (v) the fees and
expenses of the
accountants and the counsel for the Company; (vi) the fees
of the Trustees
and any agent of the Trustees (including legal fees and
disbursements,
if any, of counsel to the Trustees); (vii) any fees payable
to investment
rating agencies with respect to the Purchased Bonds; and
(viii) all other
costs and expenses incident to the performance of its
obligations
hereunder which are not otherwise specifically provided for in
this
Section.
(b) The Purchasers will pay (i) the fees and disbursements of
their
respective
counsel, except as set forth in Section 5(a) and in Section
9(c)
and (ii) their
own out-of-pocket expenditures.
6. Conditions of
the Purchasers' Obligations. The obligations of the
Purchasers to purchase and pay for the
Purchasers' Bonds shall be subject in
their discretion to the accuracy of and
compliance in all material respects with
the representations and the warranties of
the Company
<PAGE>
-9-
herein contained as of the date hereof and
the Closing Date, to the performance
by the Company of its obligations hereunder
and to the following additional
conditions:
(a) No stop order suspending the effectiveness of the
Registration
Statement shall
have been issued under the Act or proceedings therefor
initiated or
threatened by the Commission prior to the Closing Date.
(b) You shall have received an opinion, dated the Closing Date,
of
Anderson &
Byrd, counsel for the Company, to the effect that:
(i) The Company has been duly incorporated and is validly
existing as a corporation in good standing under the laws of the
State
of Kansas, with power and authority (corporate and other) to own
its
properties and conduct its business as described in the
Prospectus;
(ii) All approvals of the State Corporation Commission of the
State of Kansas which are required for the issuance, sale and
delivery
of the Purchased Bonds have been obtained; any conditions in
such
approvals required to be satisfied prior to the issuance of the
Purchased Bonds have been duly satisfied; such approvals are in
full
force and effect; and no further approval, authorization, consent
or
other order of any public board or body in the State of Kansas
is
legally required for the issuance, sale and delivery of the
Purchased
Bonds or the execution, delivery and performance by the Company of
the
Supplemental Indenture, the Purchased Bonds, any Delayed
Delivery
Contracts or this Agreement (it being understood that such
counsel
need express no opinion as to any approvals which may be
required
under the securities acts or Blue Sky laws of said state);
(iii) Neither the issuance, sale and delivery of the Purchased
Bonds nor the execution, delivery and performance by the Company
of
this Agreement, any Delayed Delivery Contract or the Purchased
Bonds
will conflict with, violate or result in a breach of any Kansas law
or
administrative regulation, or any court decree known to such
counsel,
applicable to the Company (it being understood that such counsel
need
express no opinion as to any approvals which may be required under
the
securities acts or Blue Sky laws of said state); and
(iv) This Agreement and any Delayed Delivery Contracts have
been
duly authorized, executed and delivered by the Company.
(c) You shall have received an opinion, dated the Closing Date,
of
Spencer, Scott
& Dwyer, P.C., Missouri counsel for the Company, to the
effect that:
(i) The Company has been duly incorporated and is validly
existing as a corporation in good standing under the laws of the
State
of Kansas, with power and authority (corporate and other) to own
its
properties and conduct its business as described in the
Prospectus;
and the Company is duly qualified to do business as a for-
<PAGE>
-10-
eign corporation in good standing in the States of Arkansas,
Missouri
and Oklahoma, which are the only jurisdictions (other than Kansas)
in
which it owns or leases substantial properties or in which the
conduct
of its business requires such qualification;
(ii) The Company holds all the valid and subsisting franchises
which are necessary to authorize it to carry on the utility
businesses
in which it is engaged as described in the Prospectus;
(iii) The Purchasers' Bonds have been duly authorized,
executed,
issued and delivered by the Company and constitute, and the
Contract
Bonds have been duly authorized and when executed and authenticated
in
accordance with the Indenture and delivered to and paid for by
the
purchasers pursuant to Delayed Delivery Contracts will
constitute,
valid and legally binding obligations of the Company entitled to
the
benefits and security provided by the Indenture except as the same
may
be limited by bankruptcy, insolvency, reorganization or other
laws
relating to or affecting the enforcement of creditors' rights or
the
enforcement of the security provided by the Indenture or by
general
principles of
equity and, (A) as to the Company's interest in the
Iatan Generating Station, except as the same may be limited by
the
terms of the Iatan Station Ownership Agreement, dated July 31,
1978,
among Kansas City Power & Light Company, St. Joseph Light &
Power
Company and the Company and of any other agreements by the
Company
relating to its interest in such station and (B) as to the
Company's
interest in the State Line Combined Cycle Generating Facility,
except
as the same may be limited by the terms of the Agreement for
the
Construction, Ownership and Operation of State Line Combined
Cycle
Generating Facility, dated July 26, 1999, as amended, among the
Company, as an owner, Westar Generating, Inc., as an owner and
the
Company, as agent and of any other agreements by the Company
relating
to its interest in such facility;
(iv) The Indenture has