Exchange Bonds

Exchange Bonds. Shall mean the First and Refunding Mortgage Bonds, 3.75% Series B due 2008, issued by the Issuer under the Indenture containing terms identical to the Bonds, in all material respects (except for references to certain interest rate provisions, restrictions on transfers and restrictive legends), to be offered to Holders of Bonds in exchange for Registrable Bonds pursuant to the Exchange Offer.

Exchange Bonds. Shall mean debt securities of the Company identical in all material respects to the New Bonds (except that the transfer restrictions shall be modified or eliminated, as appropriate) to be issued under the Indenture.

Exchange Bonds. Shall mean senior secured bonds identical in all material respects to the Bonds (except that the cash interest and interest rate step-up provisions and the transfer restrictions shall be modified or eliminated, as appropriate) issued under the Indenture or the Exchange Bonds Indenture.