Applicable Letter of Credit Margin

Applicable Letter of Credit Margin. From time to time, the following percentages per annum, based upon the Debt Rating as set forth below: (a) from time to time prior to April 1, 2013, the following percentages per annum, based upon the Debt Rating as set forth below: Pricing Level Debt Rating Applicable Letter of Credit Margin 1 ≥ A- from S&P/ A3 from Moody's 1.10% 2 BBB+ from S&P/ Baa1 from Moody's 1.35% 3 BBB from S&P/ Baa2 from Moody's 1.60% 4 BBB- from S&P/Baa3 from Moody's 1.725% 5 Found in TALEN ENERGY SUPPLY, LLC contract