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Guarantee Agreement

 

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Title:

Guarantee Agreement

Entities:

First Union National Bank; Pse&G Capital Trust III

Date:

2002

Size:

Preview shows 5KB of 51KB total

Price:

$37

ID:

#1794939

 

 

► Financing ► Guarantee Agreements
► Financial

 

 

Start of Preview


                               Guarantee Agreement


between

PUBLIC SERVICE ELECTRIC AND GAS COMPANY
(as Guarantor)

and

FIRST UNION NATIONAL BANK
(as Guarantee Trustee)


Dated as of


---------- --, -----

{PAGE}

TABLE OF CONTENTS

Page
----
ARTICLE I DEFINITIONS..........................................................1
Section 1.01. Definitions................................1
ARTICLE II TRUST INDENTURE ACT.................................................3
Section 2.01. Trust Indenture Act; Application...........3
Section 2.02. List of Holders............................4
Section 2.03. Reports by the Guarantee Trustee...........4
Section 2.04. Periodic Reports to Guarantee Trustee......4
Section 2.05. Evidence of Compliance with Conditions
Precedent................................4
Section 2.06. Events of Default; Waiver..................5
Section 2.07. Event of Default; Notice...................5
ARTICLE III POWERS, DUTIES AND RIGHTS OF THE GUARANTEE TRUSTEE.................5
Section 3.01. Powers and Duties of the Guarantee
Trustee..................................5
Section 3.02. Certain Rights of Guarantee Trustee........7
Section 3.03. Indemnity..................................8
ARTICLE IV GUARANTEE TRUSTEE...................................................8
Section 4.01. Guarantee Trustee; Eligibility.............8
Section 4.02. Appointment, Removal and Resignation
of the Guarantee Trustee.................9
ARTICLE V GUARANTEE............................................................9
Section 5.01. Guarantee..................................9
Section 5.02. Waiver of Notice and Demand...............10
Section 5.03. Obligations Not Affected..................10
Section 5.04. Rights of Holders.........................11
Section 5.05. Guarantee of Payment......................11
Section 5.06. Subrogation...............................11
Section 5.07. Independent Obligations...................11
ARTICLE VI COVENANTS AND SUBORDINATION........................................12
Section 6.01. Subordination.............................12
Section 6.02. Pari Passu Guarantees.....................12
ARTICLE VII TERMINATION.......................................................12
Section 7.01. Termination...............................12
ARTICLE VIII MISCELLANEOUS....................................................12
Section 8.01. Successors and Assigns....................12
Section 8.02. Amendments................................12
Section 8.03. Notices...................................13
Section 8.04. Benefit...................................14
Section 8.05. Interpretation............................14
Section 8.06. Governing Law.............................14



{PAGE}

CROSS-REFERENCE TABLE*

Section of Section of
Trust Indenture Act Guarantee
of 1939, as amended Agreement
------------------- ---------

310(a) 4.01(a)
310(b) 4.01(c), 2.08
310(c) Inapplicable
311(a) 2.02(b)
311(b) 2.02(b)
311(c) Inapplicable
312(a) 2.02(a)

 

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